Introduction
Hi! Welcome to the introduction of the impact management module.
Is it necessary to dwell on the importance of impact management for social entrepreneurs, or is it just obvious? Obvious or not, it is good to put everything in order and give words to what effects your business wants to achieve. So that
- the founders remember it in the hectic of the day,
- so that it can live in the organization and inspire everyone,
- and that it may inspire the stakeholders.
And of course, keep in mind that impact is related to action, and business. Don’t forget social entrepreneurs are changemakers. Change starts in the mind but requires action! So please connect your impact dreams to the module of business modelling and financial planning.
Let’s give an overview of how this module is structured. We follow the impact management model which is split up in 5 steps:
- Start to impact. Become familiar with the basic concepts of impact management and define your stakeholders and impact goals.
- Define your impact. The basis of your impact management is the Theory of Change. With this you make clear how your company achieves the desired impact. Often an eye-opener for everyone working in the organization. Moreover, this is what your stakeholders are particularly curious about.
- Measure your impact. When you know what you want to measure, and for which group of interested parties, you can start measuring. Measuring is knowing, measuring is also… an investment in people and resources. And these resources are usually limited. So, time to set some priorities. And then, to ensure strong, preferably evidence-based, measuring instruments. Also remember, sustainable impact management requires systematic data collection. How can you organize this? Don’t forget to appreciate what already exists and build on it.
- Communicate your impact. This is where the laws of communication come into play: how can you best deliver your message so that your target audience understands it? Think carefully about who you want to tell what to. And if necessary, get professional help to translate this into a format that your target audience will find clear and appealing.
- Navigate on impact. What indicators does your business need to follow its mission and impact? How will you balance them with the financial-economic indicators? We added some information on impact culture on this topic as a sustainable impact management requires the dedication of the whole organization.
20 minutes
This introductory session will take you approximately 20 minutes to get through, that is, if you just follow the explanations including watching the interview online-seminar.
70 minutes
With additional reading this session should take you in total about 70 minutes to complete.
4 hours
With additional reading and a review of the academic articles, journal articles or advanced concepts should take you, more like, 4 hours to complete.
There are 3 concepts we want to share with you before starting the learning.
- What is impact? Start with definition of impact, and the difference between impact, outcome and output.
- Why, when and for whom measure impact? Since managing impact requires quite a bit of commitment and effort, it is recommended to think about what impact is important beforehand. Keep in mind for whom you want to prove your impact.
- Measuring impact is evaluating wicked problems. From one perspective, impact management is quite simple. In practice, it proves complex. Because many stakeholders with their own point of view, interest and needs, are involved. This makes impact management a co-creative and adaptive process. Which requires a appropriate guiding and leadership.
We keep repeating: Enjoy!