Publications
Publications
- 2021
- HBS Working Paper Series
Accounting for Product Impact in the Interactive Media and Services Industry
By: DG Park, George Serafeim and Katie Trinh
Abstract
We apply the product impact measurement framework of the Impact-Weighted Accounts Initiative (IWAI) in two competitor companies within the interactive media and services industry. We design a monetization methodology that allows us to calculate monetary impact estimates for key welfare effects of social media, including addiction, depression, connectivity, and misinformation, among other effects identified in social media literature. Our results indicate substantial differences in the impact that competitors have through their products. These differences demonstrate how impact reflects corporate strategy and informs decision-making on industry-specific areas.
Keywords
Product Innovation; Impact; Impact Investing; Impact Measurement; ESG; ESG (Environmental, Social, Governance) Performance; ESG Ratings; Social Corporate Responsibility; Corporate Social Responsibility; Social Impact; Social Media; Product Design; Product Positioning; Society; Product; Environmental Sustainability; Measurement and Metrics; Framework; Corporate Social Responsibility and Impact; Technology Industry
Citation
Park, DG, George Serafeim, and Katie Trinh. "Accounting for Product Impact in the Interactive Media and Services Industry." Harvard Business School Working Paper, No. 21-134, June 2021.
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