2.1         INTRODUCTION AND LEARNING OBJECTIVES

Social value is regarded as positive experiences and changes that our society strives for. For example, the social value includes quality of life, social inclusion, education, mental and physical health, environmental protection, and much more. Organizations of different types pursue these social goals through their activities.

Profit organizations (companies) usually pursue economic goals while other organizations (NGOs, government agencies, etc.) have different predominant purposes. All organizations contribute to social value by producing effects – either by directly targeting these goals or through the non-intended effects of these actions.

Understanding organizational contribution to social value has become necessary for public relations, procuring funds from the public and even some private sources, and fulfilling the requirements stipulated by regulation. Furthermore, if, in the past, it was sufficient to produce narratives about social value contributions, today, organizations need to prove their impact through measurements.

In this module, we first explain what social value is and how it is created. We define this term in relation to other, similar terms, such as impact, added value, outcome, and effects. Next, we describe social value types at different levels (content, structural, and temporal). Then we turn to the measurement of social value by explaining first why we need to measure it and then by introducing different approaches to comprehend and encompass social value as well as the related advantages and challenges.

2.2         CONTENT

1. Definition and dimensions of impact
1.1. Content dimensions
1.2. Structural dimensions
1.3. Temporal dimensions

2. The impact value chain

3. Social assessment of impact
3.1. Impact and Sustainability
3.2. Individual and societal needs

4. Impact measurement
4.1. The purpose of impact measurement
4.2. Social Return on Investment-Analysis
4.3. Overview of approaches of impact measurement

1.1         LEARNING OUTCOMES

After completing this module, the participants are able to:

–      define the social impact and differentiate it from other terms (outcome and output);

–      explain what the drivers of social impact are;

–      find examples of social impact;

–      recognize different types of social value: general and specific for respective organizations;

–      explain why we need to measure social value;

–      list the methods of measuring social value;

1.2         TEACHING METHODS

Lectures, demonstration through case-study analysis, discussion, group or individual practical work on case studies, presentations.

Possibility of blended learning and flipped classroom: lectures and demonstration of case studies online; discussions, practical work, and presentations offline.

1.3         ASSESSMENT

Assessment and feedback is based on the case-study work and presentation by participants.

1.4         STUDY MATERIALS

–      Lecture slides

–      Case studies

–      Then et al. (2017). Social Return on Investment Analysis. Measuring the Impact of Social Investment. Chapters 1 – 4, Chapter 9.

–      Rauscher, O., Schober, C., & Millner, R. (2012). Social Impact Measurement and Social Return on Investment (SROI) – Analysis. New methods of economic evaluation? Working paper. Vienna University of Economics and Business.