Navigating Impact Measurement and Management: Harnessing the Power of Impact-Weighted Accounts
Impact-Weighted Accounts represent a significant leap forward in a quest for a more sustainable and equitable global economy. Developing and adopting a systematic IWA framework can guide us towards more responsible and transparent business practices, fostering an economic system that truly benefits all stakeholders.
Impact verification involves independent assessments of investors’ impact management processes or impact performance against industry standards. It plays a crucial role in building trust and credibility in impact investing, addressing concerns about impact-washing.
Impact measurement and management principles, frameworks, standards, and metrics
The amount of social activities has grown over the years, increasing transparency, accountability, and legitimacy needs. It incited a rapid increase in the development of different impact measurement methods.
The complexity and progress in impact measurement focus mainly on four critical areas: choosing appropriate tools, the stakeholder’s involvement, the controversy over standardization, and the development of frameworks for large-scale evaluations.
Combining Impact Measurement and Management: A Case Study in Improving Elderly Care in the UK
The case study shows how combining impact measurement and management improved after-care support for elderly patients in a UK health organization. Patient outcomes improved significantly through data-driven insights, staff training, and real-time feedback.
Several years ago, Think Impact made a subtle yet significant shift in the language used around their services. This influenced how they worked with clients and their approach to supporting clients to manage for better impact.