Oxford SM - 2023 impact report review
I get a mention in this impact report from B Corp consultancy Oxford SM - so I thought I’d add it to this series!
👍🏻 Three things I like:
1. AMBITION TO DELIVER IMPACT THROUGH CUSTOMERS
They have recognised that they can have the biggest impact through the work that they do with their customers, who are “some of the biggest and most influential businesses in the world, who reach billions of consumers with their products and messages every day”.
This is their ambition and focus for the next year.
2. IMPACT OF THEIR MONEY
They have been looking at the ethics of their banking partners. They have opened one new account and are looking at making more changes in 2024.
Where we (as individuals and businesses) bank and invest our money (including pensions) is often one of the biggest impacts we have. If our money is being invested in things like weapons and fossil fuels then we can (often inadvertently) have a massive negative impact. Moving that money is one of the most meaningful things we can do.
3. HONESTY RE THEIR RECRUITMENT LEARNING
They share that they’ve previously recruited based on personal connections and recommendations. They’ve now realised the risks of this approach and have made changes to their recruitment to help bring in more diverse talent.
I like this honesty. And I’m curious to know what impact they feel this has had on the business, its culture and the value they can deliver to clients.
❓ Three questions it raises:
1. WHAT SMART OBJECTIVES?
Did they have SMART objectives for 2023? They state their ambitions and progress against these – but these ambitions aren’t specific enough to know whether they made the progress they wanted to, smashed their targets or fell short.
I’d also like to see SMART objectives for 2024.
2. WHAT IS ‘GOOD GROWTH’?
I would like to understand more about how they define a ‘good growth’ project as the four criteria they list still sound quite subjective:
Contributes to the success of good organisations;
Is designed first and foremost to do good;
Helps increase the good impact of commercial businesses;
Introduces good thinking where it wouldn’t have existed before.
I do like that they give some specific examples for each of these criteria as it helps bring them to life.
Connected to this, they say they turn some opportunities down. I’d find it helpful to hear what sort of projects they have turned down. Can they share some specific examples?
3. WHAT CAN OTHERS LEARN RE RUNNING A FULLY REMOTE ORGANISATION?
Oxford SM is a fully remote organisation - “our community can live and work anywhere in the world”.
I’m curious to know what can others learn from them about how to be successful as a fully remote organisation. For example – how have they built culture, developed a sense of belonging, and encouraged collaboration and innovation?
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You can read the report for yourself here and let me know what you think.
If you’re preparing to write your own impact report, you might find my FREE Impact Reporting Roadmap helpful: