What is social impact?
How many times have you stumbled across words like ‘social impact’, ‘CSR’, or ‘ESG’ and thought… WTF?
We think the acronyms and big corporate-y words are a bit much tbh.
Doing good should just mean, doing good.
But, love it or hate it, the jargon isn’t going anywhere.
So, buckle in, and let us take you through a crash-course on the world of Social Impact in Business.
We’ve even included a certificate at the end, so you can proclaim yourself an official MGG Impact Ninja 😉. (Don’t just scroll to the bottom – you cheeky lot!)
All right, is everyone sitting comfortably? Let’s begin…
What is Social Impact?
Social impact simply refers to the positive change that a business, organisation or individual creates in society. This could be:
- Introducing a Diversity & Inclusion policy in your workplace.
- Volunteering at your local homeless shelter.
- Or, regularly donating to a Cause you hold close to your heart.
The goal of social impact is to address some of the most pressing social, environmental, and economic challenges we face today. And ultimately, make the world a better place.
Really, it’s just a fancy word for ‘Doing Good Sh*t’. And who doesn’t love that FGF? (Yeah, we just made our own acronym of ‘Feel-Good-Feeling’)
What does Social Impact mean to my business?
How many of you buy a product because they’re a certified B-Corp? Or because they have ‘organic’ or ‘recycled’ on their packaging?
We all want to know that the products we buy, or the companies we associate with are committed to more than just making profit.
So, with that in mind, surely you want YOUR business to operate ethically, too?
And, it’s not as hard as it sounds. You won’t have to pivot your entire business model, because you’re definitely already doing good stuff. Simply because it’s the right thing to do.
Every business has hosted a fundraiser, donated profits to charity, or introduced an employee volunteering scheme.
And, if you haven’t done ANYTHING you’d consider ‘good’… Well, are you okay? Wtf are you doing? Sounds like you need to talk to us immediately.
The most important thing is to be genuine and transparent in your social impact activities. Communicate more than just what you’ve done.
Who have you helped?
How did you help them?
Why did you help them?
What has the Cause done with the funds you raised – can they help more people thanks to you?
Tell the story, make people go ‘Oh sh*t – these guys really care about their customers, their community and the planet!’.
At the end of the day, be a business you’d buy from.
There are tools out there to help you do this, too. Take The Social Impact Dashboard, for example. This software was developed to share your social impact activities, and communicate how they’ve made the world a better place
And now, the grand finale!
Congratulations – you’re now a certified MGG Impact Ninja. Here’s your certificate – share it with pride, people!
Yeah, we don’t blame you. It’s hard to know where to start sometimes.
Luckily, we’re on hand to help.