Elements of Strategy: Measuring Success
When you measure your business’s success, do you look beyond the bottom line? With 88% of consumers seeking brands that respect people and planet, social impact and sustainability are real imperatives in any measure of success.
While CO2 emissions have become a proxy for environmental impact, they don’t tell the whole story: How renewable are the products and services you provide? Are toxins used in your supply chain? How much water do you consume?
Start by using materiality analysis to understand what’s important for your organization to measure. Materiality derives from accounting and financial management: a ‘material’ amount of money is a ‘significant’ amount of money—one that should be accounted for in your reports and statements.
Use the BIA to assess your company’s performance relative to B Corps’ rigorous standards of social and environmental performance, accountability, and transparency. For support, reach out to one of the B Corp Ambassadors or B Leaders on Junxion’s team.