What Does ‘Making An Impact’ Really Mean?
What does the word ’impact’ mean? According to the Oxford Dictionary, an impact is ‘a marked effect or influence’ while the Collins dictionary defines it as ‘a sudden and powerful effect’.
If we’re talking about the environment of business and investments, an impact has a more specific meaning. Sir Ronald Cohen is his latest book “On Impact: The Guide to the Impact Revolution” provides a definition of impact which fits the understanding of this term among companies, investors and governments.
‘An impact is the measure of an action’s benefit to society and the planet’.
Overall, Sir Cohen outlines 8 core beliefs with the aim to ‘bring together consumers, pension savers, entrepreneurs, managers and employees of companies, citizens and governments, and philanthropists, to take action and play a role’. These principles of making an impact include adopting a new paradigm of risk-return-impact, doing well and doing good at the same time, acting now and some others.
It is possible to do well and do good at the same time (Principle 3)
One of the primary aspects of the ‘impact’ concept is ‘doing measurable good’. It is linked to the fact that there are a growing number of social and environmental challenges that we as society members can, and must, tackle. Climate change, growing population, hunger, inequality — all these and many other issues have to be addressed now.
So, in the end, what exactly does ‘making an impact’ mean? To sum it up, making an impact critically involves stopping ignoring our world’s problems and making your (even small) contribution towards a better future. It means to do your part in supporting initiatives which offer solutions to pressing problems — famine, water scarcity, and poverty, to name a few. It is to join the movement of like-minded, compassionate people who realize that we have to act now.
Together.
To have a better future tomorrow.
Are you making an impact?
This article was written by Daria Kholod, a Writer & Content strategist from Rotterdam, the Netherlands. I write about the Dutch startup ecosystem, social & impact innovation and startup events.
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