Social impact for businesses comes in many shapes and sizes; it is the effect on people and communities that happens as a result of an action (or inaction), an activity, a project, a programme or a policy.
Businesses have a responsibility to their local and national communities to invest in their social impact and make changes for good. It’s not enough to “break even” and ensure that the cost of doing business doesn’t damage the local and larger community. In the 2020s, social impact is about helping those in need and providing resources and advocacy.
Businesses or organisations provide impacts to their consumers and the public all the time, though in different capacities. Social impact, however, concentrates on the direct positive consequences these parties offer to society.
Read more of our latest insight paper below.
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