I make report every year for my funders, is that social impact management? Why should I invest in social impact management process?
It is certainly not a story with pictures and output numbers. Social impact management provides a clear impact map to an organization. It connects all the stakeholders, organization's data capacity, data collection methodology, tools, and builds an impact strategy. As philanthropy is making a shift towards impact investments and fundraising is competitive, everyone needs to rethink their approach for fund allocation. Behind the effort of nonprofits and social enterprises, social impact is driven by funders.
Have you ever been asked, "what is your impact?" As an asset owner, asset manager, and/or asset, would your answer be able to go beyond stories from the field and general output numbers?
Actionable Impact Management (AIM) is a data-driven process for impact measurement to management developed by SoPact, and a research team at Asia Pacific Social Impact Centre, Melbourne Business School. This four step guide combines technological expertise tailored to the unique needs of the social sector. The social impact assessment process should start with,
Volume one: Groundwork will facilitate the necessary discussions and documentation on Vision, Mission, Goals, Program Structure, and Theory of Change for your organization to establish an impact framework.
Volume Two: Metrics continues our journey to facilitate the necessary discussions and documentation for your organization to select meaningful and practical metrics.
Volume Four: Communication will guide what you should consider in communicating your organization’s work, intended social impact and learnings.