What Are the Challenges in Creating Social Impact?
Creating social impact comes with its own set of challenges: 1. Balancing Profit and Purpose: One of the primary challenges is balancing the need for profitability with the desire to create social good. This often requires innovative business models and creative problem-solving. 2. Measuring Impact: Quantifying social impact can be complex. Unlike financial metrics, social impact is often qualitative and can be difficult to measure accurately. 3. Funding and Resources: Securing sufficient funding and resources to support socially impactful initiatives can be challenging, especially for startups and small businesses.