SocioEconomic Impact Study

SocioEconomic Impact Study

Be a responsible entrepreneur

• Business impacts society

• Society impacts business

• Growth and well-being of internal and external customers/partners contribute to your BOTTOMLINE

• Train workers, build infrastructure, transfer technology, pay taxes, expand access to products/services

SOCIAL IMPACT: Definition

• long-term difference your organization makes to the people or places you work in and with

• Intentional

• Fundamental to governance

SOCIAL IMPACT: Goal

• create a better, fairer world

• make the lives of service users, funders, supporters, stakeholders better

Multiple Choice

What would make the lives of service users better?

• profit and stability

• reciprocal benefits

• value for money

• decent wages and opportunities for growth

Multiple Choice

What would make the lives of funders better?

• profit and stability

• reciprocal benefits

• value for money

• decent wages and opportunities for growth

Multiple Choice

What would make the lives of supporters (e.g., 3^rd party providers such as garbage collectors, suppliers, outsourced service personnel, etc.) better?

• profit and stability

• reciprocal benefits

• value for money

• decent wages and opportunities for growth

Multiple Choice

What would make the lives of stakeholders (e.g., business owner, employees, etc.) better?

• profit and stability

• reciprocal benefits

• value for money

• decent wages/earnings and opportunities for growth

SOCIAL IMPACT: Helps YOU

• CREATE the impact because it's not just about measuring and managing

• Plan, Do, Assess, Review

• carry out data-driven management

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Multiple Choice

To assure service users of value for money, which aspect must an entrepreneur look into?

• profit margins and competition

• division of labor and economies of scale

• quality assurance, customer protection, environmental friendliness

• labor laws, minimum wage, and inflation

Multiple Choice

To assure funders of profitability and sustainability, which aspect must an entrepreneur look into?

• profit margins and competition

• division of labor and economies of scale

• quality assurance, customer protection, environmental friendliness

• labor laws, minimum wage, and inflation

Multiple Choice

To assure supporters of mutually beneficial working conditions, which aspect must an entrepreneur look into?

• profit margins and competition

• division of labor and economies of scale

• quality assurance, customer protection, environmental friendliness

• labor laws, minimum wage, and inflation

Multiple Choice

To assure stakeholders of earnings and opportunities for growth, which aspect must an entrepreneur look into?

• profit margins and competition

• division of labor and economies of scale

• quality assurance, customer protection, environmental friendliness

• labor laws, minimum wage, and inflation

PLAN (1)

• What can you do/make to make sure that the quality of your product is acceptable 100% of the time? What can you do/ make to make each product uniform?

• What can you do/make to keep you AND the customer protected from malicious intent?

• What can you do/make to stay GREEN?

PLAN (2)

• What can you do/make to make sure that the your business remains profitable and sustainable?

• What can you do/make to have a mutually beneficial arrangement with your raw materials supplier and your garbage collector?

• What can you do/make to keep your employees happy and satisfied in order to reduce the attrition rate?

ASSESS (1)

• How can you measure profitability in terms of NET PROFIT AS A PERCENTAGE OF GROSS SALES? How can you measure sustainability in terms of # of products sold per month?

• How can you decipher if your supporters are satisfied with the working conditions?

• What gauge can you use to monitor the level of satisfaction of your employees?

ASSESS (1)

• How can you measure quality to ascertain that it is acceptable 100% of the time? What characteristics constitute a REJECT?

• How can you decipher which complaints merit a refund/return in order to be protected from malicious intent?

• What will be your barometer for being GREEN?