Updated: May 28, 2020
Having a Social Impact Program is not just a business trend. For us to achieve sustainable development, businesses must change the way they do business. More consumers are making decisions based on their values. Here are steps you can start to incorporate social impact strategies in your business:
1.Research social causes related to your industry or product. What you’re passionate about and what your consumers and industry’s social issues are might not always match. You have to fully understand what your customer wants, what society demands and what your product can solve!.
2.Have a clear objective. Identify your philanthropic and business goals to guide you as you develop your social impact programs.
3.Leverage products or services. A successful strategic social impact program should showcase your business offerings. When you’ve identified your cause and objectives, think about how your products and services can get you there, how they can be a solution.
4.Promote and Engage Promote your cause so that you can impact the lives of people surrounding you. Look for opportunities to engage with the community and its leaders.
5.Remember your financial sustainability Social impact is important, but you won’t be able to do much if you don’t have enough money, inadequate funds can delay your goals. Aside from the donations and contributions from supporters, you need to figure out a way to make profits. That’s where the concept of social enterprise comes in – Social enterprises seek to maximize profits while maximizing benefits to society and the environment.
Referrences: https://sustainablebrands.com/read/business-case/4-steps-to-creating-social-impact-programs-that-benefit-communities-and-business https://www.training.com.au/ed/business-social-impact-examples/?utm_referrer=https%3A%2F%2Fwww.google.com%2F