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Summary presentation
Context
Companies are increasingly interested in measuring socio-economic impact as part of: - Maintaining their license to operate - Improving the business enabling environment - Strengthening their value chains - Fueling product and service innovation
But while more and more tools are being developed to help companies measure socio-economic impact, it can be difficult to compare and choose among them - Diversity in tools - Based on different assumptions - Offering different functionality - Focusing on different types of impact - Suiting different purposes
The essentials
The tools
Introduces the terminology and basic theory used in this space for a business audience
Suggests areas of focus to accelerate business efforts to measure and manage socio-economic impact
The essentials
Lesson 1 A fundamental first step is to understand how business activities translate into socio-economic impacts Lesson 2 Measurement can happen anywhere along the results chain
Impact
Lesson 3 In the development community, the gold standard is to reach that last link in the results chain; that last link is what is known as Impact Lesson 4 Measuring Impact, in the technical sense of the word, is challenging to do Lesson 5 Prioritization and the judicious use of proxies can be key
Activity
Input
Outcome
Output
1. We focus exclusively on socio-economic impact. Environmental sustainability plays a critical role in socio-economic impact, however tools are relatively well established and can be used together with the ones profiled here whenever environmental and social goals are linked.
2. We focus on tools that have been developed for business and that, in the WBCSDs experience, companies are increasingly interested in.
These tools are analyzed on the basis of functionality, fit for purpose, cost and complexity of implementation, and practical examples of their application in practice.