Social Impact Blog: Week of 10/9/2017

 

How Social Impact Strategy Might Save the World by Mike Canarelli

 

As the great, money-making companies of our society keep making money, they face the wrath of rebellious consumers. If the company is not paying enough attention to the world outside of them and pulling their weight as to being socially responsible, customers will respond. Before I get too far into it, companies may have a plan CSR, corporate social responsibility, policy but that does not mean they have a “social impact strategy”. The definition of a social impact strategy, by the author, is: “A new kind of intellectual framework, social impact strategies allow companies to view their brand from a different perspective in order to constantly reassess their external and internal engagement operations” (Canarelli). In other terms, it is a basic plan for a company to ensure that they are staying up-to-date and involved both within and outside of their companies to ultimately make a difference greater than the company itself. Now this is no longer “just a goal” for the company, but a priority with numbers and strategic planning behind it to stay on track. Truly, this idea could be world changing. When larger corporate companies start carrying more weight within society, more houses could be built by Habitat for Humanity, or more money can be donated to cancer research to find a cure. By following a social impact strategy, the company itself builds their own rapport, potentially avoids and eliminates the wrath, and ultimately makes a difference in the world around us.

https://www.entrepreneur.com/article/242867