G L O S S A R Y
Benefit corporation - (n.) a for-profit entity, authorized per U.S. state, "that includes positive impact on society, workers, the community and the environment in addition to profit as its legally defined goals." Different from B Corporation which is defined below.
B Corporation (B Corp) - (n.) a certification awarded by private third party, B Lab, signifying that a business entity is adhering to high standards in social and environmental performance, transparency, and legal accountability.
CEO activism - (n.) activism that is initiated and sustained by the work of the head of office. Think Starbucks' Howard Schultz.
Corporate social responsibility (CSR) - (n.) a set of self-defined regulations reflecting a company's awareness of legal and moral social responsibilities. CSR can include contributions to health care and education, philanthropy, volunteering, etc.
Fair Trade- (adj.) a certification by third party, Fair Trade USA, which signifies that a business guarantees that workers are "paid fair prices and wages, work in safe conditions, protect the environment and receive community development funds to empower and uplift their communities."
Fast fashion - (n.) clothing styles that change quickly to keep up with current trends.
Shareholder - (n.) a person who owns legal shares of a company.
Slow fashion - (n.) "Slow fashion is the movement of designing, creating, and buying garments for quality and longevity. Slow fashion encourages slower production schedules, fair wages, lower carbon footprints, and (ideally) zero waste."
Stakeholder - (n.) anyone who could possibly influence a company's behavior: consumers, employees, owners (shareholders), the government, you and me...
Sweatshop - (n.) a workplace, typically a clothing factory, that "has poor, socially unacceptable working conditions."
Upcycling - (v.) transforming a discarded product into something else that is usable, e.g., making shoes out of old tires.