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The work is to be 1 page with three to five sources, with in-text citations and a reference page

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The work is to be 1 page with three to five sources, with in-text citations and a reference page. Social Progress Social Progress Definition of Social Progress Index Social progress index is the measure of national progress on enhancing social and environmental value. According to Green (2014), social progress index refers to the societal measure of well-being that is different from the GDP. Social progress provides an innovative way of perceiving the situation of countries by defining the meaning that it adopts as a good society in attaining the demands of citizens (Green, 2014). Social progress index describes the measure of the situation in which a society has strategies of improving the lives of citizens through reliable accesses to fundamental needs and necessities.

Impacts of Social Progress Index on GDP

Green (2014), explains the relationship between social progress and GDP of a country. The social progress status of a country, according to Green (2014), is independent of its GDP level. In most countries, however, a high social progress status is dependent on high GDP. When a country’s levels of income rises, social progress that emerges from economic development end up getting exhausted (Porter & Stern, 2014).

Several social and environmental challenges result from a country’s economic growth. Fast-growing economies that disregard social progress concerns show success and improved GDP. A high social progress status, therefore, does not necessarily mean improvement in GDP. For instance, nations such as Chad show low social progress index but have comparatively high GDP.

Social Improvements for Small Reforms

It is justified that social improvements result from many myopic reforms that cause the GDP-Social Progress cohesion (Grzesiak et al., 2014). The cohesion ensures that a rise in GDP influences positive changes in social progress index of a particular economy.

Deloitte imperative is a strategy that focuses on addresses fundamental economic issues such as incorporating social progress in economic growth (Talbot, 2014). It emphasizes the need for governments to visualize beyond the boundaries of micro-economic levels in supporting social progress.

Social Progress in Business Evaluation

Social progress is imperative in evaluating business because it relates to the per capita income. Business success in a region depends on consumers’ purchasing power. Social progress, therefore, is a vital component to consider when evaluating a business.

Social Entrepreneurial Behavior

Social entrepreneurial behavior is fundamental to driving social progress in any economy (Skoll & Osberg, 2013). It is important because social entrepreneurs get motivated through opportunities they identify and vision they pursue.