As mentioned in one of this week’s readings: “Social Value is not an objective fact” (Mulgan 2010). Rather, it is based on biases and circumstances and “may change across time, people, places, and situations” (Mulgan 2010). This variability in the nature of social value begs the question as to what is the best way to measure it. How can we effectively compare the social value created by an organization such as Share Our Strength, which seeks to end childhood hunger in the US, with the Audubon Society, which seeks to protect and rebuild the country’s ecological systems?
To help answer this question, I went hunting for additional readings that can expound on the insights offered by the Stanford Social Innovation Review writers:
1. This is a 45-page PDF written by the Gates Foundation. It provides good insights that expound upon our readings. Make sure to check out page 10, which explains eight cost approaches to determining social value: http://www.gatesfoundation.org/learning/documents/wwl-report-measuring-estimating-social-value-creation.pdf
2. This is another useful, albeit more basic, PDF that details how/why to measure social value. It is written in conjunction with the London Business School. http://sroi.london.edu/Measuring-Social-Impact.pdf
3. Here is a link to a downloadable book that summarizes the different frameworks that can be used to measure social value. The download is available for free. http://www.demos.co.uk/publications/measuring-social-value
Thankfully, my search for further information on the topic of measuring social value proved very fruitful, but I am always interested in learning more key insights into the topic. Does anyone know of any? Does anyone have a unique opinion on the importance of measuring social value and the best way to do so? If so, please share.
Sources
Mulgan, Geoff. "Measuring Social Value." Stanford Social Innovation Review, 2010: 38-43.
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