How Can We Measure, Manage and Get the Most From Our Social Impact?


Join us for a live written discussion with a panel of experts to discuss how businesses can measure, manage and get the most from their social impact.

Live Panel

Thursday, 27 February, 10-11am EST (3pm-4pm GMT) ADD TO CALENDAR

Background

There is a management saying attributed to P. Ducker: “you can’t manage what you can’t measure.”

Correlations exist between business performance and their social impacts. However, in comparison to the direct business impacts poor governance has or the scientific rigour available to measuring environmental impact - social factors can be perceived as the tricky cousin when it comes to measuring and communicating their impacts. That only 3% of asset managers, asked during a 2016 survey, cite social as the most important factor out of environment, social and governance (ESG) could reflect this lack of understanding.

As a result, Business Fights Poverty will be focusing on this theme throughout 2020. Our aims are to explore the latest thinking and practice on questions surrounding social impact and business. Questions such as: Why is measuring social impact important for business and their stakeholders? How can businesses measure social impact most effectively? And what are some of the best examples of measuring social impact?

The outcome will be to encourage transparent, shared understanding of social impact by business, and to help stakeholders better understand businesses’ social impact and deepen their awareness of businesses that are going above and beyond in their delivery of social impact.

The work will be wrapped within a wider narrative of the important contribution of business to tackling the SDGs, as part of the UN Decade of Action, with stories and examples of social impact.

Questions

Q1. Why is measuring social impact good for business? What is the business case for investing in measuring social impact?

Q2. How do you measure social impact efficiently / effectively for business and it’s stakeholders? How can a business increase or maximise its social impact? (particularly from a system level)

Q3. Where are the current gaps in social impact measurement? And what could be some of the possible solutions to these?

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