Total Impact Measurement & Management (TIMM) enables decision makers to develop a better understanding of the social, tax, environmental and economic impacts of their activities while still, of course, making a profit. It gives management the ability to compare strategies and investment choices, using quantified data, and evaluate the total impact of each decision they make. This flexible framework will allow leaders to make sound business decisions, and at the same time better understand which stakeholders will be affected by which decisions, and why. With this total impact approach, you can see at a glance the impact you’re making, and better still the trade-offs between alternative strategies. In effect, you can see the optimal decision for your business and your stakeholders.
Traditional financial metrics don’t present the whole story about a business. Using the TIMM methodology to create an EP&L, Kering Group has quantified and monetised its environmental impact across its entire supply chain, right across the Group. It can now consider sustainability criteria alongside price and quality in its sourcing decisions.
PwC, The Travel Foundation and TUI Group completed ground breaking work to understand the total impact of 60,000 holidaymakers visiting 8 TUI Group hotels during 2013 in Cyprus using PwC's Total Impact Measurement and Management (TIMM) framework. It’s driven the development of new methodology to share with the tourism industry.
When you’re competing on price, how do you demonstrate that you deliver the best value? Proving how much value you add could help to differentiate yourself to your customers, investors or funders. St Giles Trust used PwC’s Total Impact Measurement & Management (TIMM) to put a value on their contribution to society and the economy to inform their discussions with stakeholders.