The Role of B Companies in Tourism towards Recovery from the Crisis COVID-19 Inculcating Social Values and Responsible Entrepreneurship in Latin America

Ángel Acevedo-Duque, Romel Gonzalez-Diaz, Alejandro Vega-Muñoz, Mirtha Mercedes Fernández Mantilla, Luiz Vicente Ovalles-Toledo and Elena Cachicatari-Vargas
Additional contact information
Ángel Acevedo-Duque: Faculty of Business and Administration, Public Policy Observatory, Universidad Autónoma de Chile, Santiago 7500912, Chile
Romel Gonzalez-Diaz: Centro Internacional de Investigación y Desarrollo (CIID), Montería 230001, Colombia
Alejandro Vega-Muñoz: Public Policy Observatory, Universidad Autónoma de Chile, Santiago 7500912, Chile
Mirtha Mercedes Fernández Mantilla: Facultad de Ciencias de la Salud, Escuela de Psicología Universidad César Vallejo, Trujillo 13009, Peru
Luiz Vicente Ovalles-Toledo: Faculty of Accounting and Administration, Autonomous University of Sinaloa, Culiacán, SI 80020, Mexico
Elena Cachicatari-Vargas: Faculty of Health Sciences of the Universidad Nacional Jorge Basadre Grohmann, Tacna 23000, Peru

Sustainability, 2021, vol. 13, issue 14, 1-21

Abstract: One of the particularities of companies with a social purpose is that, through their business model of B companies, they have incorporated into their processes the necessary mechanisms to obtain, simultaneously, the profits to ensure the existence of the organization in the market. At the same time, social value is generated, which is necessary to address the problems of the social crisis caused by COVID-19 and the environmental problems affecting the community. The current global health and economic crisis has opened up the possibility of adopting business model B and focusing more on the individual. Based on the grounded theory method, we have examined 3500 B Corporations in Latin America, of which 57 were examined in 10 countries listed in the Directory of B Corporations for Latin America. The main conclusions are that B Corporations dedicated to tourism through responsible entrepreneurship develop a more inclusive, sustainable and environmentally friendly economy for the benefit of society, go beyond the notion of CSR and move away from traditional business, as B Corporations combine social development and economic growth.

Keywords: tourism; entrepreneurship; B enterprises; community centered; social purpose (search for similar items in EconPapers)
JEL-codes: O13 Q Q0 Q2 Q3 Q5 Q56 (search for similar items in EconPapers)
Date: 2021
References: View references in EconPapers View complete reference list from CitEc
Citations: View citations in EconPapers (8)

Downloads: (external link)
https://www.mdpi.com/2071-1050/13/14/7763/pdf (application/pdf)
https://www.mdpi.com/2071-1050/13/14/7763/ (text/html)

Related works:
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link: https://EconPapers.repec.org/RePEc:gam:jsusta:v:13:y:2021:i:14:p:7763-:d:592834

Access Statistics for this article

Sustainability is currently edited by Ms. Alexandra Wu

More articles in Sustainability from MDPI
Bibliographic data for series maintained by MDPI Indexing Manager ().