General

The term “social impact era” may very well be new to some and very familiar to others. It first began to gain global popularity during or around the time of the global financial crises between the years 2007 and 2009. These financial crises occurred when banking systems and global financial markets underwent a never-before great deal of tension and pressure. The actual cause and catalyst were the US housing markets crashing and coming to what appeared to be an abrupt and shocking halt. It was recorded that millions and millions of people lost their jobs all in one fell swoop. In addition, several banks worldwide had to rely on their governments for fiscal and financial bailouts to avoid nearly equally destructive bankruptcy issues. This was the most severe global economic shakeup since the Great Depression in the 1930s. (The Global Financial Crisis | Explainer | Education, n.d.) Now that we know the core impetus that sets the world of social impact in motion let us examine what it is.  WHAT IS SOCIAL IMPACT? Social impact occurs when activities, projects, or programs create a positive change in the lives of people, usually low-income people, within a community. This positive impact ideally tackles and ameliorates or solves a crucial social challenge.  Social Impact rarely occurs through fate or sheer luck – it is a structured, intentional, well-executed list of activities with lucid goals to meet and a theory of change to prove.  Social Impact plays an exceedingly crucial role in ensuring that low-income communities and Persons of Concern (including asylum seekers, people living below minimum wage, refugees, stateless people, unaccompanied minors, migrants, et cetera) are given back their agency, have their human dignity restored to them, and are afforded opportunities that are often purposed to facilitate economic inclusion and social cohesion.  In short, social impact is clutch for those who may be temporarily or situationally brought low in society. But, of course, this also applies to deprived/low-income communities. WHY IS SOCIAL IMPACT NECESSARY? Social impact is not simply another captivating term that happens to be in vogue for the time being – It is certainly not about to disappear around the bend at the slightest push. Au contraire, it is here to stay!   Social impact has several arms and interests across a plethora of industries and within a myriad of offices (big and small) all over the globe. Even within the business of the corporate world, social impact is often in the form of ESG (Environmental, Social, and Governance). Now ESG defines, measures, and tracks a company’s adaptability, confluence, and contribution to some of the world’s most pressing issues in the areas of the environment.  ESG metrics are used by socially conscious investors who, through these (ESG) metrics, can better determine where or with whom to invest  (for the continued benefit of Persons of Concern and low-income or impoverished communities). The CFA Institute had the following to say concerning investors and ESG investing:  “Investors are increasingly applying these non-financial factors as part of their analysis process to identify material risks and growth opportunities. ESG metrics are not commonly part of mandatory financial reporting, though companies are increasingly making disclosures in their annual report or in a standalone sustainability report. Numerous institutions, such as the Sustainability Accounting Standards Board (SASB), the Global Reporting Initiative (GRI), and the Task Force on Climate-related Financial Disclosures (TCFD) are working to form standards and define materiality to facilitate the incorporation of these factors into the investment process“ (ESG Investing and Analysis, n.d.) THE IMPORTANCE OF THE CRAFT? The works of social impact include things such as social justice matters. Most of them include:  ANYONE CAN INFLUENCE SOCIETAL IMPACT. Practically, anyone can become a catalyst for social impact. One only needs to look around them and systematically or structurally solve societal issues. You could tackle climate change issues through self-organizing to plant 1000 or 100 trees in your city or town, or village. You could organize weekly food giveaways for homeless people.  You may unite your neighbourhood to build neighbourhood libraries worldwide for children from disadvantaged backgrounds. It merely requires making a list of kid-friendly books and committing to purchase them within predetermined time frames. However, you can create a child-based community health awareness program that runs in cycles and incorporates practical education by reintroducing fruits as a regular part of your children’s diets, thoroughly explaining the health benefits of each individual fruit, and setting up a reward system (for your children) for when they educate another child in the same way. CONCLUSION Ashoka, the social change-focused organization whose founder, William “Bill” Drayton coined the term “social entrepreneur“, believes that everyone can be a change-maker. Unarguably, everyone can be, either directly or indirectly. One only needs to observe, listen, and decide what needs to be altered before addressing the problems recognized using a systematic or structured method. I hope you enjoyed the read. Hit me up, and let’s keep the conversation going! I read all the feedback you send. Also, feel free to throw at me topics you’d like to read or hear my thoughts on. You can always head to my Calendly at calendly.com/maxwellampong or connect with me your own way through my Linktree: https://linktr.ee/themax. Have a blessed week! ♕ —- ♕ —- ♕ —- ♕ —- ♕ —- ♕ —- ♕ —- ♕ —- ♕ References The Global Financial Crisis | Explainer | Education. (n.d.). Reserve Bank of Australia. https://www.rba.gov.au/education/resources/explainers/the-global-financial-crisis.html ESG Investing and Analysis. (n.d.). CFA Institute. https://www.cfainstitute.org/en/research/esg-investing UNHCR Global Trends 2010. (2010). https://www.unhcr.org/4dfa11499.pdf The Largest Refugee Crises to Know in 2022. (2022, April 25). Concern Worldwide. https://www.concernusa.org/story/largest-refugee-crises/ Richardson, A. V., Humphry, J., Wright, C., Bloom, P., Harris, L. M., Lamb, C., Lentin, A., Simien, E. M., Klein, A. G., Williams, C., Cassese, E. C., Inwood, J. F. J., Ray, R., Alderman, D. H., & Perliger, A. (2022, May 15). Racial violence News, Research and Analysis. The Conversation. https://theconversation.com/nz/topics/racial-violence-15604 Childhood Overweight & Obesity | Overweight & Obesity | CDC. (2022). Centers for Disease Control and Prevention. https://www.cdc.gov/obesity/childhood/index.html World Bank and WHO: Half the world lacks access to essential health services, 100 million still pushed into extreme poverty because of health expenses. (2017, December 13). World Health Organization (WHO). https://www.who.int/news/item/13-12-2017-world-bank-and-who-half-the-world-lacks-access-to-essential-health-services-100-million-still-pushed-into-extreme-poverty-because-of-health-expenses

Merriam-Webster defines ‘addiction’ as “a compulsive, chronic, physiological or psychological need for a habit-forming substance, behaviour, or activity having harmful physical, psychological, or social effects and typically causing well-defined symptoms (such as anxiety, irritability, tremors, or nausea) upon withdrawal or abstinence”. In moderation, anything can be argued as alright, depending on the parameters for what is “moderate”. But unfortunately, the youth today is highly prone to developing addictions of various kinds. This is especially true when it comes to gambling and betting addiction.  The reasons for this are many, but it is apparent that there has been increasingly easy availability of and accessibility to gambling and betting opportunities and the increased marketing of these activities targeted at young people. Gambling and betting addiction can have severe consequences, especially for young individuals, including financial ruin and mental health problems. Therefore, it is essential to be aware of the signs of addiction and seek help if necessary. Unfortunately, what might start as harmless fun can be the gateway to a lifetime of problems unless one can safely navigate around such habits. Many warning signs may indicate that someone has a gambling or betting problem. For example, they may spend large amounts of money on gambling or lie about them. They may also miss work or school to gamble. They additionally bet despite financial difficulties. If you are concerned that someone you know may have a gambling or betting problem, it is essential to talk to them about it. They may be reluctant to admit that they have a problem, but getting them to talk about it is crucial to get help. This article looks at the subject matter in a global sense. These are all facts, and this is an opinion piece. Spot the signs of sports betting addiction When it comes to sports betting, addiction can be a real problem. Millions of people worldwide are addicted to gambling on sporting events, and many will end up in debt or worse. (Choi & Lee, 2019) The first step to overcoming a gambling addiction is to recognize the signs. If you or someone you know is showing any of the following signs, then there is a problem that needs to be addressed: 1. Betting more than you can afford to lose: This is one of the most common signs of a gambling problem. If you find yourself borrowing money to place bets or using your credit card to gamble, it is time to seek help. 2. It is all you think and talk about: Another sign that gambling has become a problem is if it is all you can think about. It is time to take a step back if you constantly consider placing bets or wondering how much you could win. 3. You are chasing losses: Chasing your losses is another common sign of a gambling problem. If you find yourself betting more money to win back what you have lost, then it is time to seek help. 4. You are ignoring other aspects of your life: Gambling, if ever done, should be something you do in addition to your regular life, not something that takes over your life. If you neglect work, family, or social obligations in favour of gambling, it is time to get help. 5. You are lying about your gambling: If you hide your gambling from others or lie about how much you are betting, it is a sign that you know it is a problem. If you or someone you know is showing any of these signs, it is time to seek help. Many resources help people overcome their gambling addiction, so do not hesitate to seek help. An increasing number of youth engaging in sports betting. The percentage of youth engaging in sports betting is on the rise. This is due to the accessibility of online sports betting, which has made it easier for young people to place bets. However, the popularity of sports betting among young people is a cause for concern, as it can lead to other problems. There are several reasons why sports betting may draw young people. For some, it may be a way to make quick money. Others may see it as a way to add excitement to their favourite sports. Whatever the reason, knowing the risks associated with sports betting is essential. (Aragay et al., 2021) Addiction is one of the most significant risks associated with sports betting. When someone is addicted to something, they cannot control their urge to do it. As a result, they may bet on sports even when they cannot afford to lose the money. This can lead to financial problems and borrowing money to pay off debt, causing more deficits. Sports betting can also lead to other problems, such as gambling addiction. Gambling addiction is a severe problem that is well-documented. It can cause people to lose their jobs, homes, and families. If you or someone you know has a gambling problem, get help from a professional immediately. The dangers of sports betting addiction Most people who bet on sports do so for fun and entertainment. However, for some people, sports betting can become a severe problem. Sports betting addiction can lead to financial, relationship, and even mental health problems. If you think you may have a problem with sports betting addiction, there are some things you can do to help you overcome your addiction and get your life back on track. The first step is to admit that you have a problem. This can be difficult, but it is essential to recognize that you have a problem before you can start to address it. If you are in denial about your addiction, it will not be easy to get help. Once you have admitted that you have a problem, you can start to look for help. There are some resources available to help you overcome your addiction. There are support groups, counselling services, and even treatment programs available. (Parke & Parke, 2019) The

Your company’s internal culture could very well make or break things. Though similar in many things and several ways, we are ultimately all of us equally very different beings. So that means that the individual ethos of everyone at a company should ideally be in harmony with everyone else. This will, in turn, define, direct and sustain the larger, collective company ethos.  Of course, this so-called company culture does not happen by sheer luck, or at least not often. Being able to work together in concert tends not to occur through serendipity; more often than not, the company, through its core purpose, goals, and objectives, can communicate its culture very lucidly.  Several companies go the extra mile and take exceedingly careful steps to ensure that their company is neither missed nor ill-communicated. These days, it is common to go through a work application and discover copious information centred around company culture. Progressively, we see that leaders strive to be more intentional, inclusive, and equitable in handling any (internal) conflict or confusion.  Even though the term “work culture“ may sound informal, it does stem from a place of purposeful design. Many leaders have realised the salient truth that they may have the best-skilled workers. Yet, if a professionally toxic atmosphere at work progresses, they can forget about being able to reach optimal levels of work output.  In short, and to conclude this anecdote, social cohesion that allows bosses and managers to reprimand in love and workers to receive this cordially is precisely what the doctor ordered for steady productivity and cultivating a strong sense of ownership in company goals or the cause for which a company exists! What is company culture? So now the big question is, what precisely is company culture? According to Built in: “Company culture can more simply be described as the shared ethos of an organization. It’s the way people feel about the work they do, the values they believe in, where they see the company going and what they’re doing to get it there. Collectively, these traits represent the personality — or culture — of an organization.“ Thriving businesses have grasped the significance of culture in a company and how it can increase profits, strengthen an equitable work environment, and boost employee morale. In addition, the global pandemic has dramatically influenced how companies conduct business today. Therefore, the need to capitalise on employees and fully embrace the need for culture in the workplace is quintessential to companies. As more experts embrace working remotely, businesses are working to create a conscientious work environment that not only pinpoints the value of culture but takes the needed step to implement strategies to lay out a sustainable culture. As we peruse this, we can begin to take retrospective notes on how we have knowingly or unknowingly contributed to what our company ethos has become. For example, do the people we work with feel a sense of togetherness or purpose in what they do? Have we created a space where our activities move beyond completing assignments and checking off boxes? Employers ought to realise that they usually have access to people for most of their day (spent at work); their core focus should be ensuring that they move past the formulaic nature of work to make it more inclusive and international.  This notion of cultivating an intentional and happy place that makes for good company culture is so essential that economists have gotten involved in analysing workplace productivity when employees are happy and feeling well purposed in their work. In 2021, a study was conducted by economists at the University of Warwick. It was so conclusive that it was published in the Journal of Labour Economics. The following is a synopsis of how the study went: “This is the first causal evidence using randomized trials and piece-rate working. The study, to be published in the Journal of Labour Economics, included four different experiments with more than 700 participants. During the experiments, some participants were either shown a comedy movie clip or treated to free chocolate, drinks, and fruit. Others were questioned about recent family tragedies, such as bereavement, to assess whether lower levels of happiness were later associated with lower levels of productivity”. Professor Oswald said: “Companies like Google have invested more in employee support and employee satisfaction has risen as a result. For Google, it rose by 37%, they know what they are talking about. Under scientifically controlled conditions, making workers happier pays off.” Dr. Sgroi added: “The driving force seems to be that happier workers use the time they have more effectively, increasing the pace at which they can work without sacrificing quality.” Dr. Proto said the research had implications for employers and promotion policies. He said: “We have shown that happier subjects are more productive, the same pattern appears in four different experiments. This research will provide some guidance for management in all kinds of organizations, they should strive to make their workplaces emotionally healthy for their workforce.” Why is company culture essential? If there were doubts concerning the correlation between work culture and productivity at work, this study featured above should accurately put it to rest.  In taking another look at some numbers concerning this topic, the company TeamStage states the following as the top company culture statistics they discovered in their study:  Company culture is an essential factor for 46% of job seekers. Married candidates value culture more than their single colleagues. 94% of entrepreneurs and 88% of job seekers say that a healthy culture at work is vital for success. 86% of job seekers avoid companies with bad reputations. Millennials prioritise ‘people and culture fit’ above everything else. Team leaders have the highest impact on company culture. Having highly engaged employees can lead to a 202% increase in performance. 69% of employees would work harder if they received more recognition. Around 63% of US companies find it harder to retain than to hire workers. A culture that attracts high-calibre employees leads to a 33% revenue increase. According to the Harvard Business Review,