- Elisa Turner
Finally, The Missing Link For Executive Leadership In The Impact/Stakeholder Economy Is Here!
Updated: Jun 15, 2021
Impakt IQ is pleased to announce the launch of our next generation offering which we’ve thoughtfully crafted to help executive leadership navigate the demands of the impact/stakeholder economy. The Impakt IQ team have been thought leaders in this space for almost 20 years – we exist for one purpose: to help executive leadership build impact organizations that serve all stakeholders, including shareholders. The challenges of the past year have been a catalyst to the sustainable business train finally leaving the station. There is no turning back. The business case has been made time and again. Finally with IFAC’s commitment to create a sustainability standards board, alongside international accounting standards, the discussion now moves from ‘will’ business have to transform to ‘how’. Executive leadership now must decide: evolve to embrace the impact/stakeholder economy, or simply be left behind. The initial steps to change include unpacking the alphabet soup of terms and definitions in properly understanding the language of the category. Additionally, it’s critical to quickly gain a holistic perspective of your organization : how material issues are identified and addressed from strategy, through processes to outcomes and how they are all interconnected.
"Impact Economy" Definied A system in which organizations are oriented to serve the interests of all their stakeholders. Under this system, a company's purpose is to create long-term value and not to maximize short term profits and enhance shareholder value at the cost of other stakeholder groups needed for the long term success of the business. "Impact Business" Defined An enterprise that has a positive impact, on the global or local environment, community, society, or economy—an organization that strives to provide value for all of its stakeholders while enhancing profitability for its shareholders. ESG, Impact, Sustainability: What’s The Difference? Environmental, Social and Governance (ESG) considerations:
Spotlights three specific pillars (environmental, social and governance) and is focused on mitigating risk
It is a siloed approach and looks at and/or reports on specific issues within each of the three specific pillars
Fits the hierarchy business model which is based on silos
Does not provide a holistic view of an organization, thus leaving many blind spots
Impact business considerations:
Impact business leaders look at their organization with a holistic perspective
Impact organizations look at all environmental, social and governance (ESG) interconnections and nodes throughout the organization internally and externally
Strategies, practices, procedures, risks and opportunities are assessed using an ESG lens
Impact leaders strive to understand the interconnections between nodes, practices and processes, in order to become more resilient and profitable for all stakeholders
They seek to deliver positive outcomes to all stakeholders including profits to shareholders
Impact organizations require a 360 degree view into all nodes of their organizations, mitigating potential blind spots for stakeholders and leaders, helping them build more resilient and profitable organizations
Impact organizations assess risk, value creation and outcomes short and long term, considering all stakeholders
Impact organizations are emerging as the future
Sustainable business considerations:
Sustainability is a blanket term - a now-diluted catch-all for any company's efforts to “do better.”
This term has become outdated as more defined terms have evolved such as ESG and Impact.
"Impakt IQ" Defined A quantifiable measure (using investment grade material metrics) expressed as a universal number - of a company’s environmental, social, and governance (ESG) strategies, processes and performance relative to its financial and reputational risk and value creation in consideration of all stakeholders. About The Impakt IQ Executive Report & Impakt IQ Services
The Impakt IQ Executive Report is for executive leadership
It targets the gap that currently exists between an organizations ESG principles, intentions, strategies, processes, procedures, auditable performance and investment grade impact reporting
It provides executive leadership teams with a clear full system view of where they are on the impact/ESG continuum across all material nodes of the organization relative to risk, reward and impact, and benchmarks them against their peers
The Impakt IQ Executive Report provides the foundation for building and managing integrated impact strategies, mitigating risk, creating value, organizational resilience and profitability
The Impakt IQ Executive Report is the roadmap to transforming your organization to compete in the impact economy
Impakt IQ Methodology Measure + Manage What Matters Most™ and the benefits for all stakeholders will follow.
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