1) The document discusses measuring social impact and the debate around standardizing impact measurement approaches. It provides definitions of key terms like social impact and outcomes.
2) It describes current frameworks and guidelines being developed for impact measurement and the drivers toward greater standardization from funders, investors and policymakers.
3) However, the document also notes risks of standardization like a "one-size-fits-all" approach that loses important context and differences between social enterprises. It argues that standardization efforts should draw from existing diversity, be flexible and sensitive to different cultures and sizes of social enterprises.