Corporate Social Impact (CSI): Measuring the Business Impact of Social Strategies

The face of corporate social responsibility is changing. In response to demand from the market and the marketplace, companies are looking for effective ways to demonstrate the business impact of their social and environmental strategies. Combining our work with corporate clients with our expertise in performance measurement, Mission Measurement is building a new language to understand and communicate the social and business impact of CSR.

Development

Despite the significant momentum and investment fueling CSR programs, current systems rating CSR performance are not equipped to measure the business value of a company’s social strategy. Today’s approach to CSR assessment

• Operates at the management system, rather than performance level
• Treats CSR as a risk management, rather than strategic function
• Requires companies to demonstrate compliance with external standards, rather than their ability to harness social strategies to advance business outcomes

However, a survey of the current state of social impact measurement reveals a market primed with the momentum, resources, and capabilities to usher in a new form of CSR performance measurement.

• A bevy of research supports the link between successful social strategies and business benefit
• Encouraged by this, companies are changing their approach to CSR, viewing it as a strategic asset rather than a liability
• A growing market of investors and consumers are demanding accurate, effective, outcomes based data that measures the ability of social and environmental programs to contribute to business growth

To meet this need, Mission Measurement has developed the Corporate Social Impact (CSI) framework, a new, performance-based model that aligns social and environmental programs with business impacts. The CSI will provide corporations with anew language to communicate the impact, and optimize the performance of social and environmental strategies.