Different kinds of organisations – such as non-profit vs. for-profit – should be seen as complementary means of pursuing societal progress, as one can use both business and non-business approaches to serve society. We as individuals need to identify important societal needs we care about, and contribute to these in a manner consistent with our personal goals as well as the unique advantages and constraints of the context in which we operate.
To ensure that we can truly achieve a significant positive impact, it helps to be precise about the societal problem we solve and clear about our “impact model” in order to then use these as a basis of evaluating and sharpening our impact. Evaluating impact does not mean reinventing the wheel or just pleasing the donor. We should instead develop a mindset of “impact management”, i.e., relying upon experience and external evidence to formulate a reasonable business model and a robust impact strategy, implementing explicit measurement and evaluation (M&E) processed to the extent additionally useful and practical.
Donors and investors have also started to move away from merely qualitative judgments about impact to data-driven approaches. In the process, they are disaggregating the drivers of impact, including enterprise level impact versus the contribution of the funder, the likely breadth and depth of impact, and the risks in achieving impact. While the emerging fields of “venture philanthropy” and “impact investing” are still relatively small within the overall spectrum of investments, such market-based approaches are a rapidly growing opportunity for scaling up impact - as they can help fill the funding gaps in addressing society’s most pressing challenges that just aid or grants cannot fill.
To summarize, in this masterclass, participants can expect to analyse and interpret the external environment and societal needs, and develop actionable business models and impact management strategies and policies that are forward looking, while also anticipating and planning for risks as they focus on balancing societal impact and financial sustainability.
Target audience includes professionals from non-profit sector who are required to lead agencies or centres such as Board Members, Executive Directors, Centre Heads and HR Heads of SSA/NPOs.
The skills and knowledge for this course, which the learner is assumed to possess, are as follows:
• Be able to listen and speak English at a proficiency level equivalent to the Employability Skills System Workplace Literacy (WPL) Level 6
• Be able to read and write English at a proficiency level equivalent to the Employability Skills System Workplace Literacy (WPL) Level 6
• Be able to use numeracy skills equivalent to the Employability Skills System Workplace Numeracy (WPN) Level 6
By the end of the masterclass, participants will be able to:
1. Optimize organizational strategy for sustainable impact based on sectoral needs
2. Formulate actionable and practical plans for evaluating impact
3. Synergise resource allocation to drive appropriate impact management
4. Transform the strategic plans to consider macro trends and funding landscape
The event will be held at INSEAD Asia Campus, 1 Ayer Rajah Ave Singapore 138676.
This course is pre-approved for VCF Funding. As there are limited training places for VCF Funding hence funding will be given to the first 50 applicants.
Academic Director, INSEAD Social Impact Initiative
Professor of Strategy
Jasjit has been an INSEAD professor since 2004. His teaching and research interests include Strategy, Innovation, Inclusive Business, Sustainable Development, Impact Investing and Impact Evaluation. He also regularly gives speeches on these topics, and advises investors, companies and impact ventures on how to think rigorously about their impact.
Jasjit has written numerous articles for leading academic journals as well as case studies that have won prestigious awards. He earned a PhD in Business Economics (Strategy) at Harvard Business School and an MA in Economics at Harvard University, having earlier obtained a BTech in Computer Science & Engineering at IIT Delhi and a double-MS at Georgia Tech.