Legal Factors in Impact Measurement System
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Legal Factors in Impact Measurement System
The process of measuring and understanding how much change has occurred and the impact a corporation has affected the environmental economic and social dimension is what is known as the impact measurement process. To achieve integrity, a proficient impact statement is regenerated, and a strategy characterized by stakeholder focus and impact-driven results is employed (Burrit, Saka 2006; Schaltegger et al., 2002). This practice is especially beneficial to profit-driven businesses and mission inspired organizations, impact investors, and a similar category of business-minded individuals and corporations. The result of services or activities generously provided by the development sector organizations, which are usually positive and long term for communities and individuals, thus, defined as social impact measurement, the definitions’ basis is on the understanding of Heather Rideout (Maas & Liket, 2016).
These are the legal implications that associate with the impact measurement system. There is an insistent factor of privacy. Legal laws affect the privacy of individuals within the system. During impact measurement, the rights of the public or private entities are infringed to effectively determine what sort of changes need to be made to improve the standing of the society. Therefore, it, in turn, provokes legal ramifications for the parties involved despite the goodwill intended in the first place.
Practical Implications is another factor. Organizations tend to get involved in legal actions that are liable to their performance. There has to be a proper chain of command when it comes to impact measurement. While the managers get insight into characteristics that are desirable and organizational factors to concentrate their focus on to ensure proper beneficial change, the chain of custody may be a little blurred. It is never a good thing for corporations because it means the legal liability lies squarely on the organization (Tung, Baird, & Schoch, 2011)
Survey versus the result collection. Here, the subjects involved are studied and observed for proper results analysis. In retrospect, this can get tricky when the two do not match, and a complete workup is to be done from scratch. The legalities of this process can be exhausting, not to mention risky in all manner of proportions because it may affect the outcome of the process negatively.
The level of impact legally affects the impact measurement. A team deductively measures the depth of impact that will affect society and the expected outcome. The next stage, like most strategies, is planning. Planning takes away the blind factor and eliminates any probabilities of a lack of resources. Planning is crucial because it gives a base to the operational process. Then there’s the monitoring stage whose main objective is to improve the program. The level give the outcomes of the observations, and adjustments effected in the running of the program for better results, increasing the probability of success.
The evaluation also causes a legal implication. It shows the correctly done results and describes the process and outcome of the whole impact measurement system. It is majorly done to prove the social value of the process. Thus, it evaluates societal gain. The impact has finally reported claiming responsibility and the success of the entire program. In other terms, this is the end – product stage. After this stage what comes is the satisfaction of the masses and the joy that comes with effect (Mishra, 2018)
References
Maas, K., & Liket, K. (2011). Social impact measurement: Classification of methods. Environmental management accounting and supply chain management (pp. 171-202). Springer, Dordrecht.
Tung, A., Baird, K., and Schoch, H. (2011), “Factors influencing the effectiveness of performance measurement systems,” International Journal of Operations & Production Management, Vol. 31 No. 12, pp. 1287-1310. https://doi.org/10.1108/01443571111187457
Mishra, B. Social Impact Measurement and Investment: Methods, Limitations, and Challenges.
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