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Social impact refers to the effect an organization, project, or initiative has on the well-being of individuals, communities, and society as a whole. It encompasses the positive or negative changes that occur in social conditions as a result of actions taken by businesses, governments, nonprofit organizations, or individual initiatives. These impacts can include improvements in areas such as health, education, economic stability, environmental sustainability, and social equity. Measuring social impact typically involves assessing outcomes such as quality of life, access to resources, community engagement, and social justice. The concept emphasizes the importance of considering the broader consequences of decisions and actions beyond financial or economic returns, reflecting a commitment to creating lasting positive change in society.
The crowdfunding campaign, initiated by Ukraine’s Monobank co-founder Serhei Horokhovsky as a joke to fund nuclear weapons, quickly went viral. Within hours, it raised 27.2 million hryvnias ($656,000) from donors…