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Overview

The Social Impact Wheel is a strategic framework designed to help organizations assess and enhance their contribution to social responsibility, particularly in alignment with the 17 Sustainable Development Goals (SDGs). It serves as a reflective instrument for companies to evaluate their innovation strategies and their broader impact on society and the environment. By employing this tool, organizations can identify their strengths, areas for improvement, and prioritize their impact values. It is a proactive measure to safeguard reputations and ensure that innovations are not only profitable but also socially and environmentally sustainable, thereby future-proofing business practices.

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Dimensions

Resource type: This tool is a methodological framework that guides organizations in evaluating and aligning their strategies with sustainable goals.

• Tags: framework, tool

Objective: The primary goal of the Social Impact Wheel is to assess an organization's impact on the SDGs and to align innovation strategies with social responsibility.

• Tags: assess, align

Target audience: The Social Impact Wheel is intended for organizations that are actively seeking to innovate in a socially responsible manner, including businesses of all sizes and sectors.

• Tags: entrepreneurs, corporations, SMEs, startups, policy-makers, practitioners

Sustainability focus: The tool focuses on evaluating and improving the organization's impact on all three pillars of sustainability, with a particular emphasis on social aspects as it relates to the SDGs.

• Tags: social-sustainability, environmental-sustainability, economic-sustainability, SDGs

Innovation type: It supports organizations in developing innovations that are socially responsible and sustainable, which can include product, process, or business model innovations.

• Tags: social-innovation, business-model-innovation, product-innovation, process-innovation

Entrepreneurship stage: The Social Impact Wheel is applicable across various stages of entrepreneurship, from the initial ideation to the implementation and growth phases.

• Tags: ideation, design, development, implementation, growth

Scope of relevance: While the tool can be used globally, it is particularly relevant for organizations aiming to address local and national sustainability challenges.

• Tags: global, national, local

Methodological approach: The Social Impact Wheel is based on a structured, strategic approach that incorporates existing design criteria from the SDGs.

• Tags: theoretical-frameworks, strategic-planning

Skill development: Using this tool can enhance an organization's skills in systems thinking, holistic thinking, and environmental awareness, as well as their ability to innovate with a focus on sustainability.

• Tags: systems-thinking, holistic-thinking, environmental-awareness, innovative-thinking

Source and credibility: The tool is developed with a foundation in sustainable development goals, ensuring its credibility for organizations looking to make a verifiable impact.

• Tags: recognized-experts, practice, research

Prerequisites and requirements: No specific prerequisites are required to use the Social Impact Wheel, making it accessible to a wide range of users.

• Tags: none

Collaboration level: The tool encourages collaboration within teams and across departments within an organization to ensure a comprehensive assessment of social impact.

• Tags: team, community

More information can be found at Board of Innovation An interactive version of the canvas is available here.

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Resources