What is Impact?
Ahead of Impact Summit 2019 next month, we’ve been thinking about what ‘impact’ means to us here at SIS. It’s pretty complex for such a small word, but we believe that, in the right context, it has great meaning and is the driver for everything we do.
Stripping it back to its simplest form, impact is the effect something has. So, in theory, everything has an impact. Every person and every organisation will have an impact – but it is the kind of impact that we’re interested in.
In the socially-focused and mission-driven world, we mean impact as the positive, meaningful change that an organisation creates. We talk about it as the outcome of some intervention that has been put in place to tackle a challenge in society.
Notice that we’ve said outcome and not output. This is because there’s an important difference between the two. Your output is the product or service that your organisation delivers; whereas, your outcome is the meaningful change brought about because of your output. Make sense?
So, for instance, SIS customer Glenurquhart Care Project’s output is 12 amenity houses in a rural area. However, its outcome is far more meaningful in that the houses will enhance the quality of life for elderly and vulnerable people and allow them to remain in their own community. You can check out their customer story here.
To us, impact is the end goal that must remain front of mind. Meaningful impact doesn’t just happen; it takes hard work, dedication and collaboration. At SIS, our vision is a purposeful economy and to work towards this we must not only consider the impact of our core activities, but also the impact of our wider existence. For example, we’re conscious to think about our supply chain and #BuySocial whenever reasonably possible.
The impact, or rather meaningful impact, of our investments on the communities that we seek to serve is important to us. That’s why we’re now on the look out for a Head of Impact who can support us in managing, measuring and enhancing our social impact. You can share, learn more and apply for this role here.
Impact Summit’s #ThisIsImpact19 campaign highlights the global mindset shift towards values being at the forefront of society. We’re inspired every day by our customers who are creating meaningful impact across the country and we look forward to hearing about the impactful activity of other organisations next month. If you’re going to Impact Summit and want to say hello, give us a shout on Twitter @socinvestscot or get in touch.