The Social Business Scorecard identifies practices and operational approaches, to establish different institutional profiles on the basis of specific indicators. It is meant for self or accompanied self-assessment.
SBS is built around 7 P's taking into account key elements of the social business concept. The 7 P's aim to identify clear criteria and a common framework for analyzing social businesses, to boost credibility and avoid misuse of the concept.
- Purpose - A social business has a clear social mission, shared by all stakeholders.
- Public - A social business targets a public that is vulnerable, poor and/or excluded (clients, suppliers and/or employees).
- Products and Services - A social business offers an adapted product mix that meets basic needs and reduces inequalities.
- HR Policies - A social business has policies and practices that ensure employees and service providers are treated responsibly
- Ethical Principles - A social business adheres to ethical principles regarding the environment, the community and integrity.
- Profits - A social business has a defined and transparent policy on profits and how they are used to further the social mission.
- Partnerships (optional) - When a social business benefits from a partner relationship, the technical support provided is fundamental to the business model.
Once filled, the scorecard generates a graphic to visualize the business profile. Both the scorecard and the graphic are great tools for strategic and operationnal planning as well as internal and external communication.