New impact
You're referring to the concept of "new impact"!
New impact refers to the idea that the way we measure and understand the impact of our actions, products, and services is evolving. Traditional metrics such as ROI (Return on Investment) and financial returns are no longer sufficient to capture the full scope of an organization's impact.
New impact considers the broader social, environmental, and economic consequences of our actions, including:
- Social impact: How do our actions affect people, communities, and society as a whole?
- Environmental impact: How do our actions affect the natural world, including climate change, biodiversity, and ecosystems?
- Economic impact: How do our actions affect the economy, including job creation, income inequality, and resource allocation?
New impact is about recognizing that our actions have far-reaching consequences that go beyond financial returns. It's about considering the long-term effects of our decisions and taking a more holistic approach to measuring success.
Some examples of new impact include:
- Measuring the social impact of a company's diversity and inclusion initiatives
- Assessing the environmental impact of a product's supply chain
- Evaluating the economic impact of a community development project
By considering new impact, organizations can make more informed decisions, prioritize sustainability, and create positive change in the world.