Philanthropic organizations experience difficulties in obtaining support from younger generations, highlighting the need for modern fundraising strategies. Advances in technology provide a potential solution by offering alternatives to traditional fundraising practices. In an experimental study in collaboration with the International Committee of the Red Cross (ICRC), we investigated whether virtual reality (VR) could be harnessed to innovate fundraising. We customized a VR module developed by the ICRC and tested its effectiveness at eliciting donations compared to that of an on-screen version of the experience. In addition, we explored mechanisms that might drive this effect, namely the level of interactivity (active/passive) and the type of affect elicited by the module (positive—happy ending/negative—tragic ending), as well as subjective perceptions and emotions related to the experience. Our findings showed that VR, compared with an on-screen experience, led to both an increase in incentivized donations and a larger reported propensity to become regular donors. Investigating the mechanisms that might drive the effect, we found that the VR experience led to stronger emotional feelings (notably being moved and sadness) and improved quality of the experience (e.g., level of interest and vividness). We further found physiological evidence showing a significant increase in arousal for the VR condition compared with the on-screen condition, although this was not correlated with an increase in donations. Taken together, our study provides evidence that VR could be a viable tool to innovate fundraising and identifies some of the features that may make this medium more effective than traditional practices.

This article (Sooter & Ugazio 2023) was published with a labeling error throughout the physiology analysis. The label 'heart rate amplitude' should instead be 'pulse photoplethysmographic amplitude' or 'PPGa'. This mislabeling in no way changes the results, or the interpretation thereof; however, using the correct label may forestall any eventual misunderstandings. The mislabeling occurs in the following places in the paper: Page 4, section 2.2.3 Page 7, section 3.3 and Figure 1, plot C Page 8, Table 4 Page 9, section 3.4.4 This mislabeling has been corrected in the online supplementary information. In addition, there is a mislabeling of Figure 1, plot A. In the x-axis the first factor (in grey) should read 'Screen' rather than 'VR' and the second factor (in blue) should read 'VR' rather than '2'. The authors apologize for these errors.

The values driving entrepreneurs are evolving from shareholder wealth maximization towards a more holistic approach wherein business impacts on all stakeholders are considered. This change has been driven in part by a societal cultural shift focused on promoting a sustainable future. To meet this cultural change demanding a balance of profit and ethics, novel entities (e.g., B Corps) have emerged in the private sector. In this chapter, we engage with behavioral perspectives to explore B Corps’ achievements, opportunities, and challenges. We first outline the transition from shareholder to stakeholder considerations, as we believe it constitutes the philosophical ethos of social enterprises. We then focus in turn on four of the five areas used by B Lab’s Impact Assessment—governance, workers, customers and consumers, and community—as they are most appropriate for an exploratory analysis of their interaction with human behavior. Specifically, in governance, we approach the topic of corporate ethics and transparency, as well as how the values of social entrepreneurs shape a firm’s culture. We then outline the relationship between purposeful work and employee performance and examine how B Corps have applied effective practices on social inclusion and employee well-being, in the workers’ section. Concerning customers and consumers, we explore a range of perspectives, including consumer motivations to purchase from B Corps, caveats of ethical consumerism, and how B Corps can capitalize on decision-making research to inspire consumer change. Additionally, we present our research on public awareness and perceptions of B Corp trustworthiness and greenwashing. Finally, the last section—community—highlights B Corps’ civic engagement and communication with their communities through social media, corporate volunteering, and charity work, among others.