Each player in the investment ecosystem has their own definition of impact coupled with their goals, needs, and measurement approaches. How one reconciles or aligns these impact goals across this spectrum to reach local communities and meet their needs is not always the end game for stakeholders in the impact investing/impact economy ecosystem or for IMM. As mentioned earlier, for investors new to social or environmental change or who have never worked at a community level, it may be difficult to define impact in investing and impact economy in concrete terms—number of children and single-headed households moved out of poverty, number of marine species conserved, or number of local enterprises supported. Regardless of where one sits on the impact investing ecosystem—from investor and financial professionals to international development organizations and civil society organizations, answering the Why and What about the investment at the beginning of an investment is essential to determine impact. It is the first step in the IMM process as it helps define the north star of an impact investment and can help address the challenge of Lost in Translation across disciplines and stakeholders. Why Diverse Voices Matter for Wicked Problems Wicked problems call for collaboration and embracing diverse voices. They are complex issues that are difficult to define and solve, often involving multiple stakeholders and competing values. Wicked problems require a holistic approach that goes beyond traditional, linear problem-solving, necessitating the inclusion of various perspectives and experiences to foster innovative solutions. There are several reasons collaboration and diverse voices are important: n Comprehensive Understanding Wicked problems are rarely defined by a single perspective. Bringing together diverse stakeholders, including those directly affected by the problem, allows for a more complete understanding of the issue and its roots. n Innovative Solutions Diversity sparks creativity and helps uncover unconventional approaches to problem-solving. By bringing together people with different backgrounds, skills, and experiences, you can tap into a broader range of knowledge and insights, leading to more effective and sustainable solutions.
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Ten Years in the Making
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