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Thinking Strategically about Impact
Prof. Jasjit SinghProfessor of Strategy
The Paul Dubrule Chaired Professor of Sustainable Development
Co-Director, INSEAD Social Entrepreneurship Programme
Website: https://faculty.insead.edu/jasjit-singh/
Twitter: @sjasjit
Poll
In your honest opinion, the net impact business schools have on society is:
A. Significantly positive
B. Close to neutral
C. Significantly negative
Source: https://pxhere.com/en/photo/1455423
The Impact of Business (Schools) on Society?
Source: https://www.theguardian.com/news/2018/apr/27/bulldoze-the-business-school
The Backlash against Capitalism…
Disillusionment on the Inside …
Source: https://theredlist.com/media/upload/2016/01/29/1454077714-56ab77122a629-009-modern-times-theredlist.jpg
The Quest for Meaning in Life …
Source: julianpencilliahinspire.com
How to Make a Difference?
Source: John Wood. Leaving Microsoft to Change the World.
How to Make a Difference?
What Really is Your Impact?
YOUR IMPACT =
The world with your involvement
MINUS
The world without your involvement
YOUR IMPACT =
The world with your involvement
MINUS
The world without your involvement
What Really is Your Impact?
1,500 people skydived for charity and raised £120,000
• After paying for the dives, £45,000 was given to the causes
• 163 divers suffered injuries for which NHS spent £610,000
https://80000hours.org/career-guide/anyone-make-a-difference/
Three Critical Questions …
https://80000hours.org/career-guide/anyone-make-a-difference/
Outcomes Achieved?
Unintended Consequences?
Cost Effectiveness?
Thinking Strategically about Impact?
Source: Photo by rawpixel.com from Pexels
The Heart The Head
Your Goals
Thinking Strategically about Impact…
Your Strengths
SocietalNeeds Sweet Spot
The Need for Humility …
Current Themes in the Impact Arena ...
1. Using Business as a Tool
Using Business as a Tool for Impact?
Running aBusiness
SeekingImpact
Social Enterprise
Impact-Driven Business
Sustainable Business
Sustainable Business…
“We stopped giving quarterly earnings guidance and doing quarterly reporting… We want people who want to build this company for the long term.
I tell shareholders that I’m not just working for them: slavery was abolished a long time ago!”
Paul Polman
Impact-Driven Business…
Social Enterprise…
Social Intrapreneurship?
Gib Bulloch
Current Themes in the Impact Arena ...
2. Having an Impact Model
1. Using Business as a Tool
The “PlayPump”
Source: playpumps.co.zaSource: science.howstuffworks.com
The Reality on the Ground…
Source: Ralph Borland’s PhD Dissertation; Obiols and Erpf, “Mission Report on the Evaluation of the PlayPumps Installed in Mozambique”
https://rctom.hbs.org/submission/toms-evolving-as-a-winner/
TOMS
Critique of the TOMS Approach …
What is Your “Impact Model”?
Resources Outputs OutcomesActivitiesProblem Definition
What would have happened
anyway?
= IMPACT
-
Current Themes in the Impact Arena ...
3. Using Investing as a Tool
2. Having an Impact Model
1. Using Business as a Tool
Using Investing as a Tool for Impact …
Investing in Business
Seeking Impact
Venture Philanthropy
Impact Investing
Sustainable Investing
Sustainable Investing
Dear CEO,
Every company must show how it makes a positive contribution to society. Companies must benefit all stakeholders.
Without a sense of purpose, no company, either public or private, can achieve its full potential. It will ultimately lose the license to operate.
Ability to manage environmental, social and governance mattersdemonstrates leadership and governance essential to sustainable growth.
Extracts from BlackRock’s 2018 letter to CEOs: https://www.blackrock.com/corporate/en-de/investor-relations/larry-fink-ceo-letter
Impact Investing
Venture Philanthropy
Source: https://ssir.org/articles/entry/investing_for_impact_with_program_related_investments
The “Intentionality Spectrum”
Note: The boundaries between organizational forms and the investee-investor mapping are not meant to be precise.
Traditional Philanthropy
Venture Philanthropy
Traditional Investing
Impact Investing
Sustainable Investing
Social Enterprise
Charity or NGO
Impact-Driven Business
Traditional Business
Sustainable Business
Deliberate Impact Market Impact
POLICY (Rules of the Game)
Living an “Examined Life”?
Source: ourgom.com/tag/the-unexamined-life-is-not-worth-living-socrates
Living an “Examined Life”?
Every Contribution Counts!
