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Corporate citizenship executives have long tried to align their work with their company’s core business, and Patagonia has often led the way. On Thursday, April 25th, The Conference Board Marketing and Communications Center's latest Center Chat will feature an interview with Vincent Stanley, Patagonia’s director of philosophy. To join the Center Chat, email Tiffany Williams at firstname.lastname@example.org.
Our new research also shines a spotlight on social impact measurement, which continues to be a challenge for executives. The available data from nonprofits, and the quality of it, varies greatly, lacking consistency and comparability. At the same time, nonprofits are asked for results in many forms, creating an added burden that detracts from their core mission.
The Conference Board has been working with Mission Measurement to finally deliver a social impact measurement solution that will help both companies and nonprofits. Using the Impact Genome Project, we now have a data-driven solution for social impact measurement and reporting. Just like other areas of a company, we have standardized metrics, including cost per outcome and efficacy rates, that provide valuable benchmarking information. With the generous support of Moody’s, we have published our first pilot report using the data. I encourage you to review the report and join us in this benchmark as we move this new tool forward. This work will help us make better resource allocation decisions and ultimately help us drive the change we seek.