Step 1 asks you to consider how the partnership can support the company’s strategic goals. Then sub-objectives are considered by business unit, function, stakeholder group and material issue. A similar process is also undertaken by community partners to link the partnership to their organisational goals. A partnership ‘health check’ is applied to existing partnership
Step 2 maps the intended impact of the partnership. LBG facilitates a workshop where partners can discuss the intended impact of the partnership and agree objectives, measures and data points
Step 3 assesses progress against the indicators and objectives set to enable partners to report the impact achieved and share their social impact story. The LBG team provides support following the workshop 3 -6 months after to check progress and assist with any queries.
LBG’s Social Impact Methodology (SIM) has been developed and refined by working with companies and their community partners. It is now an established process to support corporate community partnerships to effectively map and assess their impact by unravelling the complexity of impact assessment. By considering impacts to both the business and the community 'shared value' can be assesed and measured.
Planning for a new partnership - The SIM enables companies to start with a review of their corporate strategy, to ensure a new or potential community partnership can support the company’s overarching goals. The process aligns to the concept of creating shared value (CSV), by considering how the company can address a community or social need whist also aligning with strategic business drivers. An important balance between business and community indicators is established.
Mapping and assessing existing partnerships - Many existing partnerships have a broad vision for what they are trying to achieve, but often lack clarity around the strategic intent. Without this clarity it is very difficult, to assess ‘what changes’ for the business and for the community as a result of the partnership. Specific and measurable objectives, data points and timelines have to be agreed. LBG facilitates a workshop to help clarify and agree objectives, maps impact indicators, and agree on a theory of change.
Whether you are a company or a not for profit you don't need to be an LBG member to benefit from the LBG Social Impact methodology
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