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Business Strategy for Pursuing Social Value for B-Corp Certified Social Enterprises: Oyori Asia Case Study Review

Hannah Jun1 · Yunjeong Kim1

1 Ewha Womans University

Published: January 2021 · Vol. 25 · pp. 71-89

DOI: https://doi.org/10.17287/kbr.2021.25.0.71

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Abstract

In 2019, B Lab announced its annual honoree list of the top-performing B Corps in terms of global business impact. This included recognition for impact-driven businesses in the areas of environment, community, customers, workers and overall impact, or those that earned a score in the top 10% on the B Impact Assessment. Among high-profile honorees such as Patagonia Works, Ben and Jerry’s and The Body Shop was a little-known business from South Korea, Oyori Asia. Oyori Asia was recognized as a World Honoree as Best for Overall 2019 and Best for Community 2019, a remarkable distinction given that the locally-registered social enterprise had just received its B Corp certification earlier that year. In this case study, we examine the growing prominence of B Corps for social impact-driven firms around the world by using Oyori Asia as a focal point of analysis. Oyori Asia aspires to support economic independence of Asian women and create sustainable value through its global food business. The company maintains business operations in South Korea, Nepal and Thailand and offers job training and full-time employment opportunities to disadvantaged women. This case study employs a unique dataset through an in-depth interview with Oyori Asia’s CEO, Lee Ji-hye, and highlights the opportunities and challenges of both B Corp certification and the social enterprise designation system in South Korea.
Keywords: B CorporationOyori Asiasocial enterprisesocial impactsustainable business strategy