![]() Date: 2025-04-06 Page is: DBtxt003.php txt00004157 | |||||||||
Metrics | |||||||||
Burgess COMMENTARY
But TVM wants to see metrics that embrace the different perspectives of various parties to any economic activity and the multiple impacts that an economic activity produces. An organization routinely accounts for the money flows associated with an economic activity that it engages with. From this it knows the investment deployed, the revenues produced, the costs incurred and therefore the money profit generated, the return on investment and the cach flows. If the economic activity is running a school, money profit metrics are not enough. There need to be metrics about the impact of the education on the students and the community. If the economic activity is running a church, money profit metrics and cash flow are not enough. There need to be metrics about the value of the spiritual life on the congregation and the surrounding community. If the economic activity is related to health care. money profit metrics and cash flow are not enough. There need to be metrics about the health state of people in the community and the impact of the economic activity on the health of people in the society. Every economic activity has money costs, and consumes resources of many different types, including irreplaceable natural resources. Every economic activity has outcomes, both desirable outcomes that can be sold for money revenue asd well as deirable outcomes that are of value but cannot be paid for. Every economic activity has undersirable outcomes like waste and pollution that have social costs, if not money costs. All the inputs and all the outcomes should be accounted for ... both the money transactions and the value transactions.
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The Domains of Happiness Most people think of emotions as defining happiness. This is one part of happiness. Scientists call it “positive affect” and “negative affect” meaning feeling happy, joy, sad, angry, stress, or other emotions. Another important way of defining happiness is “satisfaction with life,” meaning whether you are living the best life for you and feel your life is worthwhile. These are usually the only two things used to define happiness. However, the conditions in which we live influence on our affect and satisfaction with life. By including the conditions of happiness in a definition of happiness, one acknowledges the internal and external are integrated. The Happiness Initiative uses the domain approach created by Bhutan, and adds one domain: work experience. This way, when you look at your own happiness, you can see where you have balance or imbalance in your life that fosters or undermines your affect and satisfaction with life. Use the Happiness Budget Card to ponder your own happiness and balance in your life (print double sided & fold). The conditions or domains of are:
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