Organizations require many types of resources to be successful, yet traditional accounting focuses on a single type–financial capital. This promotes an economistic mindset, where people are viewed as “costs” rather than inherently worthy and essential co-creators of organizational success. To develop a more humanistic understanding, this presentation introduces social accounting as a framework to think systematically about core elements of organizational success, such as people, nature, ethics, relationships, knowledge, and trust. The session concludes with a discussion of how social accounting can be used as a strategic tool to (a) create sustainable value; b) understand that resource allocation decisions always entail values choices; c) the effect these choices have on society and shaping the world we live in; and d) what leaders can do to simultaneously create financial, social, and environmental returns for their organizations and society. By adopting a capabilities and multiple capitals mindset, we can create a sustainable economy rooted in reciprocity and dignity.
The Slides which include the links to resources mentioned in the presentation.