How do you develop Social Capital Strategy?
The Divinsky Approach is a five-step process that begins with clearly defining who you are and understanding the social and environmental issues that directly and indirectly have an impact on your business. It is a collaborative process that requires courage. For more detail, please see the What section.
How does this connect with environmental strategies, corporate philanthropy, cause marketing?
Social Capital Strategy integrates and aligns all aspects of corporate involvement with communities so that people experience the enterprise as clearly and authentically standing for something meaningful and important.
How do you know what issues to support and champion?
When you can see how it will drive pride, respect, bonding, reputational equity and have a true impact on people and the business.
How do you measure social and business impact?
Return on Social investment (ROSI) is the missing link that demonstrates how community investment – or corporate responsibility – is a driver of positive social and business results. Return on Social Investment (ROSI) is a three-part measurement system that can demonstrate:
- Effects of a company’s social initiatives on the quality of the purchase decision
- Quality of the relationship a company has with all of its stakeholders; and
- A clear link to changes in sales volume.
- Social Return on Investment analysis that analyses and evaluates social and environmental impacts and outcomes.
- Reputational Impact – understanding how social impact shifts perceptions and relationships with key stakeholders and audiences.
- Purchase Impact – understanding how social impact, and reputational impact shift the quality of purchase.
The insights and learnings from the ROSI assessment enable a company to then improve its Social Capital Strategy, improving the effectiveness, efficiency and impact of its social and environmental commitments and activities, creating a self-reinforcing cycle of success.