What is Impact?It's a word used frequently by organisations, academics, practitioners and otherslooking to prove their worth, but what does it actually mean? There is no single definition, but at its most simple, it means thesignificant difference your activitymakes. This might be expressed as Impact is not:
| Why is it important?As well as being able to demonstrate the difference you've made as a result of the resource you have, understanding, evaluating and managing your impact will help you:
Understanding impact also helps with morale and job satisfaction as it helps everyone involved to really see tangible results to their work, which is especially important to those who may spend more days at their desk and not seeing the real difference 'on the ground'. By having a thorough understanding of what your impact is, what it takes to create itand how it relates to your organisational purpose, you are in a stronger position for making strategic and operational decisions. You will have a much stronger knowledge of what can be improved in your processes, vision and models; what could happen when things are changed; and what it would take to create deeper or broader impact. As social investment grows as a means of revenue, being able to evaluate and manage your impact will become ever more vital, in order to return and / or growthe investments made. It also enables you to show how you support the Social Value Act, which not only demonstrates an ethical commitment, but can bring a competitive edge when tendering for commissioned services that receive public funding. In short, understanding, evaluating and managing impact strengthens your organisation. |
Understanding impact: what is impact? Why is Impact Important? (2024)
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