Measuring socio-economic impact — A WBCSD guide for business

Measuring socio-economic impact — A WBCSD guide for business

business the trade of goods and services has always had an impact on society likewise Society has always had an impact on the success of business though with such a close relationship surely it makes sense for a business to take those impacts into account in the pursuit of profit businesses have become masters of measuring and maximizing financial capital in recent years progress has been made to measure and manage environmental performance however measuring socio-economic impacts still remains a challenge for most many responsible businesses are attempting to crack the code why well for a start it makes good business sense whether you’re a telecommunications company who wants to show government’s the positive impact of your products a manufacturer looking to build goodwill and reduce risk in the communities you operate in or a retailer looking to meet the changing needs of your customers people underpin your business they are your employees customers suppliers distributors retailers and neighbors so their growth and well-being matter to your bottom line by training workers building infrastructure transferring technology paying taxes and expanding access to products and services you can shape the future of your business and society for the better but in order to manage socio-economic impacts businesses first need to measure them there is a range of tools already out there to do this but selecting the right tool for the job is often daunting especially when every business is unique so to help you get the wheels in motion the World Business Council for sustainable development has produced a guide that helps decode the complex language and processes that can cloud impact assessments the guide profiles 10 business orientated tools that have been tried and tested by companies this helps you to select the right tool or combination of tools for the job with confidence and ease in fact it’s more than just a guide it’s a living document which will be updated regularly as the landscape evolves using this resource can help your business strengthen its value chains fuel product and service innovation build trust and stimulate dialogue with governments civil society and communities business cannot succeed in societies that fail so valuing your company’s contribution to social capital creation makes good business sense and is vital in moving towards a sustainable future so a business in society they might not explore the guide to find the best tools to help you measure and manage your business’s social economic impact visit our website and start the journey today you

5 thoughts on “Measuring socio-economic impact — A WBCSD guide for business

  1. As a dildo manufacturer, my products already make the world a better happier place for the female demographic. It is a socio-economic win-win

  2. This is the working link:

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