In today's socially conscious economy, three realities of "doing good"--social impact--are facing every business leader:
- Executives know they have to do something about it. Several market pressures demand it: regulatory influences, sustainability trends, consumer preferences, corporate governance standards, philanthropic solicitations, and expectations of employees and recruits.
- Executives are aware that the social impact activities going on within their companies are not well-organized, and the activities are not aligned with business goals.
- Executives want to address social impact, but in the least expensive, least disruptive, and most bottom line-focused way possible.
A social impact strategy is the solution. But what does that entail? Here are a few examples:
- Developing social impact key messages to build image and credibility, extend the reach of existing marketing activities, and add a new dimension to brand engagement strategy.
- Conduct social impact training to better align a social impact program with an employee culture that achieves business goals.
- Inspire an executive team to implement a social impact decision matrix or other formal but simple system to organize, capture, celebrate and measure evidence of social impact activities to maximize the return on a community engagement budget.
What's your perspective? It may be time to figure that out.