Much discussion is being made in the last years about Social Return on Investment (SROI) and Impact Assessment. But confusion exists: what is it exactly and what does it serve for?
Social Impact Assessment is a way of accounting for the value created by an organization’s activities. It is an analytic tool for measuring and communicating a much broader concept of value, taking into account social, economic and environmental factors. The SROI methodology, which is one of the leading ones in the area of impact assessment, was standardized by the Social Value UK in 2006 and now includes more than 700 members globally.
But why use it? SROI is a powerful management tool for strategic planning and can raise the organization’s profile or make a stronger case for future funding.
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