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Societal marketing should not be confused with social marketing. Societal marketing is a philosophy or mindset that informs marketing decisions whereas social marketing is a distinct branch within the marketing discipline. Societal marketing is concerned with the consideration of the social and ethical aspects of marketing planning.
Social impact assessment (SIA) is a methodology to review the social effects of infrastructure projects and other development interventions. Although SIA is usually applied to planned interventions, the same techniques can be used to evaluate the social impact of unplanned events, for example, disasters, demographic change, and epidemics.
Effectively managing social impact sprawl means that companies need to stop treating social impact as a single thing, and start managing it as a portfolio of activities undertaken by a distributed ...
Social marketing should not be confused with the societal marketing concept which was a forerunner of sustainable marketing in integrating issues of social responsibility into commercial marketing strategies. In contrast to that, social marketing uses commercial marketing theories, tools, and techniques to social issues.
An economic impact analysis only covers specific types of economic activity. Some social impacts that affect a region's quality of life, such as safety and pollution, may be analyzed as part of a social impact assessment, but not an economic impact analysis, even if the economic value of those factors could be quantified. [2]
Social Impact Theory was created by Bibb Latané in 1981 and consists of four basic rules which consider how individuals can be "sources or targets of social influence". [1] Social impact is the result of social forces, including the strength of the source of impact, the immediacy of the event, and the number of sources exerting the impact. [2]
An SROI analysis should not be restricted to one number, but seen as a framework for exploring an organisation’s social impact, in which monetisation plays an important but not an exclusive role. Focus on monetisation : One of the dangers of SROI is that people may focus on monetisation without following the rest of the process, which is ...
Impact investing offers a range of benefits to both investors and society as a whole. For investors, it provides an opportunity to generate financial returns while also making a positive difference.