How can organizations assign value to the intangible benefits of socially relevant projects? What components should...

Question

Question

How can organizations assign value to the intangible benefits of socially relevant projects?
What components should be added to a business case to demonstrate the value of the intangible benefits of socially relevant projects?

business Operations-Management

Answer 1

Answer #1

The organizations can assign value to the intangible benefits of socially relevant projects by:

Linking the project with brand awareness and equity = Example Colgate adopted the school in a village and made investment on infrastructure. This helps to increase brand awareness amongst children and thus build positive brand equity
Equating with compliance and norm = Some projects are carried out as they are mandatory as part of regulations. Example Essel Propack uses the waste plastic to manufacture benches and pots which are distributed free of cost to schools and parks. It is the government requirement to re-use plastic for sustainable environment
Explaining members on linkage of project with customer experience and customer satisfaction which has a long term impact of brand revenue and profitability

Answer 2

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