Frameworks to help streamline your impact
The workshop focussed on the application of three existing frameworks to help streamline impact: The Doughnut economy, The Sustainable Development Goals and True Pricing.
The financial times rated “The Doughnut Economy: Seven ways to think like a 21st century economist,” (Kate Raworth) the best book of 2017. I find the doughnut framework a clear and easy to understand tool that creates a blueprint, a foundation to help business thinkers consider how to make their models more socially, environmentally, and financially sustainable.
Secondly the Sustainable Development Goals. These goals transcend beyond the interest of governments and the development sector and spill directly into our individual lives and business. Whilst these 17 goals are described as highly ambitious and innovative, when they are incorporated into the doughnut framework, they only address half of the challenge. Specifically, they can, at best, only address the social foundation, the inner part of the doughnut, but will do little to significantly put a ceiling on the environmental challenges.
Therefore, more is needed. Thankfully, emerging trends, coming from the private sector depict an inspiring picture in the form of true pricing. The True Price of something is a price that would cover all costs in any production process, including all the hidden costs, with a small profit margin for economic sustainability. In my opinion, defining a reliable true price of something can only be achieved when individuals, organisations and networks incorporate Raworth’s steps and the SDGs into their business and strategic modelling.
Incorporating these frameworks into your projects
It is one thing to think conceptually about all the parameters necessary to create impact, it is however something completely different to be able to take that to the next level by applying it. How can you translate available knowledge around creating impact into something that your own specific project(s) can use and benefit from? At MDF we call this the enterprising mindset and we have incorporated these practices into an online course called Enterprising Project Design.
The Enterprising Project Design course stimulates you to use an enterprising mindset to maximise the social impact of your project in a practical way. With this course you learn how to keep with current trends and increase added value, identify the success factors of your projects and programmes, use business tools to turn your projects and tools into valuable products and learn how to utilise your network and present your business case clearly. Whether you want your project to become less dependent on donor funding, or if you wish to make your business idea more social, this course will help you source inspiration from best practices and get started with designing projects that make financial sense.
By James Sablerolles, Business Developer & Enterprising Consultant, MDF Training & Consultancy. Views expressed here are my own.