TRUE VALUE METRICS
DATA SOURCING
Foundation for fast, easy, low cost, simple, timely reporting of impact
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TO DO ... update images to be more relevant to the subject matter
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Data that is relevant for the issues of the time
The TVM agenda is all about using data to manage for better progress and performance.
Part of this is putting PURPOSE in play as well as merely profit and financial gain.
The quality of life for people ... everyone ... is more important than a behavior that creates financial wealth for some people while doing major damage to society and to the environment.
There are massive amounts of data that have been collected that are useful for maximizing corporate performance relative to profit ... but much less that enables the measurement and management of social impact and environmental impact.
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DATA SOURCING - SELF REPORTING
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Corporate Reporting / Self Reporting of Financial Performance
Companies prepare accounts and produce financial statements comprising balance sheets and profit and loss accounts. Two balance sheets are presented: one for the begining of the period and a second one for the endo of the period.
Public companies that are quoted on stock exchanges are required to follow strict laws and regulations about what is reported. These companies are also required to have their reporting validated by independent auditors. The need for laws and regulations to protect the interest of investors was recognised a very long time ago following misrepresentation of company performance by the company staff.
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Validating the financial reporting / audit
An audit is a systematic and independent examination of books, accounts, statutory records, documents and vouchers of an organization to ascertain how far the financial statements as well as non-financial disclosures present a true and fair view of the concern. It also attempts to ensure that the books of accounts are properly maintained by the concern as required by law.
https://en.wikipedia.org/wiki/Audit
| Open Wikipedia link
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DATA SOURCING - EXTERNAL OBSERVERS
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External Observers have a complementary perspective
It can be expected that self reporting will have a bias towards reporting with some rigor what is good, and perhaps rather less rogor about what is not so good. This can happen with financial reporter even though there are quite rigorous rules and standards for the reporting, but in the area of social responsibility and environmental sustainability, where there are few established rules and methods, the bias for self reporting is likely to be significant ... and more so when the job is delegated to the Public Relations Department or outsourced to a PR firm.
There are observations that can be made by people outside the company that can serve to shed light on things that the company would prefer to keep hidden, as well as data that can serve to confirm and validate self reporting by the company.
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DATA SOURCING - FROM NGOs AND ACTIVISTS
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NGOs and ACTIVISTS
A lot of data are collected by NGOs and activists but these data are not used to the maximum extent possible, in large part because the data tend to be project limited (meaning that they are collected and analyzed for a specific project) rather than being part of a management system that has continuity and permanence.
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TPB note
Every time there is a natural disaster or other emergency, there are first responders and NGOs who deploy to be of as much assistance as possible. For abou 20 years now part of the assistace has been to deploy cell phone systems to collect spatial data about various forms of emergency situation. I have argued for a long time that there is a continuing social and environmental emergency in most of the world, and that a similar data collection system shuld be deployed to understand the everyday sate of disaster that is the reality of the modern world.
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DATA SOURCING - SELF REPORTING
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MOVE THIS TO METRICS / ECONOMIC
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