Business Innovation for Social Impact
This route to impact aims to capture investments made by a business, into activities that yield clearly defined and demonstrable social impacts because of innovation in their products, services, or operations (activities that essentially seek to make or save money).
The intent of this route is to capture truly innovative investments taken by the business, that seek to address a social issue, rather than activities already commonly practised by businesses in general or in their sector.
Examples may include:
– A bank creating new financial services that allow previously unserved populations access to affordable banking. The bank benefits by receiving a commercial return from the product and an unserved group can now bank.
– A coffee manufacturer working with smallholders in its agricultural sourcing supply chain to increase coffee quality and productivity. The manufacturer strengthens its supply chain, and the smallholders benefit from training and support.
For more information and to access the dedicated guidance please contact us to enquire about joining the network
Learn more about the three routes to impact
1. Community Investment
The business is working externally with community organisations to address a social issue.
The focus of this activity is to benefit the community and secondly, the business
2. Business Innovation for Social Impact
A business division is developing or adapting core commercial activities that create clearly defined social impact and generate a clear return to the business
The focus of this activity is to benefit both society and the business.
3. Procurement for Social Impact
The business is switching procurement spend towards suppliers that are creating clearly defined social impact.
The focus of this activity is to benefit both society and the business.
“
Sage really values the relationship and partnership we have with B4SI – through their help with are able to really assess and improve the impact Sage Foundation is having. Allowing us also to communicate to our colleagues and communities the work we are doing.”
Rebecca Lennox. Regional Operations Foundation Director, Sage.