This publication reflects our ongoing collaboration with the IE School of Politics, Economics & Global Affairs through our participation in the Capstone Project. On this occasion, we had the privilege of working with Ana María Morales Fernández, Ana Patricia García González and Taichang Yang, a team whose analytical rigor, intellectual curiosity, and commitment to understanding complex value-creation mechanisms have been exemplary.
Their project examined the impact of consumer goods on individual well-being, building on our broader efforts to develop frameworks for evaluating product-level impacts in alignment with the draft methodology co-developed under the Valuation Technical and Practitioner Committee (VTPC) due process, in collaboration with the International Foundation for Valuing Impacts. In applying the VTPC exposure draft to a new industry context, the team focused on how everyday consumer products generate measurable value for people.
With this perspective, the students selected two representative sub-industries—household and personal products, and toys and sporting goods—as defined by the Sustainability Accounting Standards Board (SASB). Their investigation explored both the intrinsic functions of these products and the behavioural dynamics that shape how consumers engage with them. Central to their work is the identification of impact pathways for both sub-industries, derived through surveys, expert interviews, an extensive literature review, and an econometric model. Household and personal products contribute to dignity, health, and everyday functioning, while toys and sporting goods support physical development, emotional well-being, and leisure—each responding to essential human needs. Their findings show that impacts arise through two main channels:
The result provides a valuable foundation for future research in consumer goods impact accounting and offers practical insights for companies seeking to integrate well-being considerations into business steering - ultimately enabling more meaningful value creation for individuals and society.
This text presents an extract from their contribution. The full thesis can be accessed upon request. We extend our sincere thanks to the IE School of Politics, Economics & Global Affairs, the students, and Francisco Hernández in his role as academic tutor, for their outstanding contribution to this shared endeavour.
Author:
Francisco Ortín Córdoba
Senior Manager, Value Balancing Alliance
Main Authors:
Ana María Morales Fernández
Ana Patricia García González
Taichang Yang
Note: This publication summarizes the original work of the authors and it does not intent to represent the Value Balancing Alliance or IE School of Politics, Economics & Global Affairs’ position.