If you’re planning to launch a new social enterprise, or scaling a successful venture, you may be asked by investors and funders to demonstrate impact. But with product development and customer acquisition to worry about, you may not have the time or experience to track down the latest rigorously peer-reviewed study that proves your value …
The concept of stakeholders has become common across sectors as a contrast to the traditional, profit-driven “shareholder” view of organizations. Considering your stakeholders allows you to think more broadly and critically about impact and social responsibility.
If you’re starting a social enterprise or nonprofit, you’ll naturally focus on the impact you plan to have. You’ll predict the effects of your work based on research and past successes in your field, and you’ll imagine the positive outcomes that motivate you to succeed.
You’ll also, however, have to anticipate the potential negative or unexpected outcomes, and predict your ability to successfully execute the business plan and deliver your intended value. You’ll need to account for risk.
When social entrepreneurs launch businesses with the goal of creating impact, they have to determine how their business model connects to their mission.
An organization’s logic model describes its intended impact, along with the intervention the organization’s leaders have chosen to achieve that intended impact.
You want to do “good” — have a positive impact and effect change. But how do you define what “good” means?
The Sustainable Development Goals (SDGs) offer a high-level categorization of impact, and outline the key targets and measures identified for investment in each area to achieve the global goals.