Social impact and business outcomes are closer than you may think.
They’re interdependent – they cannot exist without one another. Businesses must exist within societies, and they necessarily respond and provide for what the community needs. Likewise, society relies on companies to fill all kinds of needs that fall outside of the public sector.
Regardless of the nature of your business, you need to consider how your business is affecting the local community. A commitment to social responsibility has contributed to the success of many companies, especially in recent years, because they provide services that are useful and important to society.
It’s not just about doing good work, although that is wonderful – it’s about building a truly sustainable business model.
Social impact can vary from the relationship between the company and stakeholders, to how workers are treated, and how your products or services affect lives. It can extend to supply chains and sustainable development overseas, and takes into account your environmental impact.
As a business owner, you need to make a social impact assessment of your business to know what things to do to create a positive impact and create social change.
Here are six things a business owner needs to do as to build a sustainable business that has a positive impact on society.
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