Measuring impact and why?

What does impact mean?

In a broader sense, impact is defined as the effect or influence that a particular action, program, policy, or initiative has on individuals, communities, society, or the environment. It can be both positive or negative and can occur at various levels, such as individual, community, or societal level.

The concept of impact has evolved over time in creating social value, and it is now widely recognized as a critical aspect of social and environmental programs and investments. The development of impact can be traced back to the emergence of the field of social impact assessment in the 1970s, which sought to evaluate the social impacts of large-scale development projects.

Over the years, the concept of impact has become more sophisticated, and new tools and approaches have been developed to measure and manage impact. One key development has been the adoption of the results-based management approach, which emphasizes the importance of setting clear and measurable objectives and monitoring and evaluating progress towards those objectives.

Another important development has been the emergence of impact investing, which seeks to generate positive social and environmental outcomes alongside financial returns. Impact investing has driven the development of new tools and approaches for measuring impact, such as social and environmental impact assessments and social return on investment (SROI) analysis.

The concept of impact has developed in creating social value to become more nuanced and sophisticated, reflecting the growing recognition of the importance of social and environmental outcomes alongside financial returns. By measuring and managing impact, organizations can better understand the social value created by their programs and investments and make data-driven decisions to maximize their impact.

Why does SentBe care impact management?

SentBe cares about impact management because the company believes that its business can generate positive impact while making profits. SentBe is committed to advancing financial inclusion, which means ensuring that individuals and businesses have access to affordable, accessible, and inclusive financial services. Impact measurement and management are critical for SentBe to track its progress towards its impact goals and to ensure that it is making a positive impact on the communities it serves.

In addition to being the right thing to do, impact management is also important for SentBe's business success. By demonstrating its impact, SentBe can differentiate itself from its competitors and attract impact-minded customers and investors. Impact measurement and management practices can also provide valuable insights and data that can inform SentBe's business strategy and decision-making, helping the company to optimize its impact and improve its financial performance.

In this sense, SentBe cares about impact management because it is central to the company's mission of advancing financial inclusion and is critical for its business success. By measuring and managing its impact, SentBe can ensure that it is creating positive change in the world while building a sustainable and successful business.