Valuing impact for competitive advantage
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guest lecture given to startup students at University of Salford in April 2013 as part of wider enterprise programme; this session supported participants to explore the options and benefits of identifying the social impacts that their businesses will be creating, and how these might be used to enhance their competitive advantage
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Valuing impact for competitive advantage
- 1. How to value the impact your business makes for competitive advantage www.adrianashton.co.uk
- 2. introductions I know why I’m here, but why are you? Adrian Ashton
- 3. How do you get noticed? • Marketplaces are crowded • How do you strand-out? What is it about you that makes you attractive to your customers? Adrian Ashton
- 4. Marketplaces are changing • Consumers and customers becoming more ‘ethically aware’ • Rise of the ‘ethical pound’ • Introduction of Social Value Act • Changes to regulatory reporting requirements (companies house, environment agency, etc) Adrian Ashton
- 6. So how will you do it? • Make up your own system or adopt an existing standard? – Time – Complexity – Credibility Adrian Ashton
- 7. Some of the options: • AA1000 • LiM • SROI • Social Accounting & Audit • LM3 • Investors in People • ... Adrian Ashton
- 10. SROI • Identify stakeholders and impacts • Assign values to outcomes and recognise ‘deadweight’ - Useful to generate ‘headlines’ and understand how you’re valued by stakeholders - Risk of inconsistent measures and values, not consulting all groups, not considering all variables Adrian Ashton
- 11. Social Accounting & Audit • Explores links between vision, mission, objectives, activities and values from internal and external perspectives • Generates indicators appropriate to the enterprise - Very comprehensive and seen by many as ‘ultimate’ and best model - Difficult to compare report with others’ Adrian Ashton
- 13. Local Multiplier 3 (LM3) Adrian Ashton
- 14. Investors in People Adrian Ashton
- 15. But do your customers care? Lets take it as read that customers will like you if you can show how you’re making the wider world (as well as theirs) a better place... - But what are the wider issues they care about? Benefits of understanding your impacts in making decisions about your business as well... Adrian Ashton
- 16. So what? • Is this relevant to your marketplace? • Is there a clear option for how your business can create social impacts of interest to your customers – and should you trade on these? The risk of not doing anything and conducting ‘business as usual’... Adrian Ashton