Social Impact

This week’s topic is about determining your venture’s social impact. My team’s social venture of the Care Van is to improve the health of the elderly population in underserved areas by providing preventative services. The question to answer is how do we know if our mission is making an impact?

One of the tools discussed in the article “Measuring Social Value” by Geoff Mulgan uses a framework for thinking. The four categories of the framework are: 1) strategic fit (how well the proposed innovation meets the needs of the health service); 2) potential health outcomes (including likely impact on quality-adjusted life years and patient satisfaction); 3) cost savings and economic effects; and 4) risks associated with implementation. Using this framework and applying it to my team’s venture would allow us to assess our social impact. For Care Van we would need to collect Census data in order to see where the current health status of the elderly population in rural counties in Western PA. From these statistics, we will be able to benchmark to see what potential health outcomes Care Van will have in the area.

Another article I came across, “Finding the golden thread: A new approach to articulating program logic statements,” discusses another approach on how to keep on task in fulfilling your social impact.  Creating a program logic statement allows those involved in the venture a comprehensive picture of the mission. “It articulates how the activities of a program lead to the consequences that will drive the final impact.” Care Van’s logic statement would be, if we provide preventative health care services to the elderly population in underserved areas in Western PA, then we will positively impact the health of the population. Part of the process in creating a program logic statement is going through the pros and cons of what would happen if the social venture were launched. The process takes you through all the complex situations that are associated with the social purpose of the venture. What is your program logic statement?

Source: http://svaconsultingquarterly.com/wp-content/uploads/pdfs/svaconsultingquarterly.1.1.pdf