Many of us in the base of the pyramid community, myself included, often wonder, "is this business really making a social impact?" Sure, there are real indicators of success, but what action drove that particular outcome? As I ponder the social impact of business, I'm reminded of an old marketing adage: We know at least 50 percent of our efforts are working – we just don't know which half. (Hat tip to Brian Trelstad for bringing this up in a meeting.)

In order to build truly inclusive businesses, our sector must start tracking impact over time. This we can probably all agree on. But the challenge is not so much in creating buy-in around the idea of measurement, but in finding a way to integrate an effective and user-friendly system for doing so in an already resource-constrained work environment.

Because of these and other stumbling blocks in creating social metrics, Rob Katz and I were particularly intrigued by the newly released Measuring Impact Framework developed by The World Business Council for Sustainable Development (WBCSD). This framework, which has been in the works for nearly two years, is designed to guide companies – from small enterprises to large multinationals – through the process of measuring and assessing impact, and making better-informed future decisions within the context of a larger development paradigm.

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