Is Doing Good, Good Enough?
In this chapter the topic of social impact assessment (SIA) is addressed in its meanings and implications. It firstly explains how it has become important for both profit and non-profit organizations. Also, along with a detailed definition of what social impact actually means and an examination of the role the measurement process can have, the benefits that could come from this practice are illustrated, as well as the main barriers that could hamper its implementation. A specific focus is on the impact investment that has emerged in several countries witnessing the trend of using investment models to solve social needs. The pivotal role of SIA in relation to these tools is also explained in this chapter.
KeywordsSocial impact Assessment process Social accounting Impact investing Social impact bonds
- Ashoka. (2013). How do you know when you’ve revolutionized an industry? Ashoka’s approach to assessing impact. https://www.ashoka.org/files/2013-Impact-Study-FINAL-web.pdf.
- Aucamp, I. C., Woodborne, S., Perold, J. J., Bron, A., & Aucamp, S. M. (2011). Looking beyond impact assessment to social sustainability. New directions in social impact assessment: Conceptual and methodological advances, pp. 38–58.Google Scholar
- Baliga, S. (2013). Shaping the success of social impact bonds in the United States: Lessons learned from the privatization of US prisons. Duke LJ, 63, 437.Google Scholar
- Brest, P., & Born, K. (2013). When can impact investing create real impact? Stanford Social Innovation Review, 11, 22–27.Google Scholar
- Burdge, J. (1999). A community guide to social impact assessment, Reviewed edition, Social Economy Press.Google Scholar
- Burdge, R. J. (2003). The practice of social impact assessment—background. Impact Assessment and Project Appraisal 21(2), 84–88.Google Scholar
- Callanan, L., Law, J., & Mendonca, L., (2012). From potential to action: Bringing social impact bonds to US. New York: Mc Kinsey & Company.Google Scholar
- Centre for Social Development and Social Finance. (2013). Investing in social outcomes: Development impact bonds the report of the development impact bond working group. http://www.cgdev.org/sites/default/files/investing-in-social-outcomes-development-impact-bonds.pdf.
- Cinquini, L., Tenucci, A. (2007). Is the adoption of strategic management accounting techniques really ‘strategy-driven’? Evidence from a survey. Available at SSRN http://ssrn.com/abstract=1012881.
- Clark, C., Rosenzweig, W., Long, D., & Olsen, S. (2004). Double bottom line project report: Assessing social impact in double bottom line ventures. http://www.riseproject.org/DBL_Methods_Catalog.pdf.
- Council for social development. (2010). Social impact assessment, Report of a research project on social impact assessment of R&R policies and packages in India, New Delhi.Google Scholar
- Cutt, J., & Murray, V. (2002). Accountability and effectiveness evaluation in non-profit organizations. London: Routledge.Google Scholar
- Ebrahim, A. S., & Rangan, V. K. (2010). The limits of non-profit impact: A contingency framework for measuring social performance. Harvard Business School General Management Unit Working Paper, pp. 10–099.Google Scholar
- Ebrahim, A., & Weisband, E. (2007). Global accountabilities: Participation, pluralism and public ethics (Vol. 23, pp. 13–28). UK: Cambridge University Press.Google Scholar
- Elkington, J. (1997). Cannibals with forks: The triple bottom line of 21st century business. Oxford: Capstone.Google Scholar
- Emerson, J., Wachowics, J., & Chun, S. (2000). Social return on investment: Exploring aspects of value creation in the non-profit sector. San Francisco: The Roberts Foundation.Google Scholar
- Epstein, M. J., & Yuthas, K. (2014). Measuring and improving social impacts: A guide for non-profits, companies, and impact investors; BK Business.Google Scholar
- Finsterbusch, K., & Freudenburg, W. R. (2002). Social impact assessment and technology assessment. In R. E. Dunlap & W. E. Michelson (Eds.), Handbook of environmental sociology (pp. 407–447). Westport, Conn: Greenwood Press.Google Scholar
- Freireich, J., & Fulton, K. (2009). Investing for social and environmental impact: A design for catalyzing an emerging industry. US: The Monitor Group.Google Scholar
- Goodland, R. (2000). Social and environmental assessment to promote sustainability: An informal view from the World Bank. Environment Department Paers Nr. 74, Washington, DC: The World Bank.Google Scholar
- Gray, R. H., Owen, D. L., & Adams, C. A. (1996). Accounting and accountability: Changes and challenges in corporate social and environmental reporting. Hemel Hempstead: Prentice Hall.Google Scholar
- Grieco, C., & Maas, K. (2014). Mapping the practice of social impact assessment: A quantitative study on social enterprises, EMAN conference proceedings, Rotterdam, March 27–28, 2014.Google Scholar
- Harji, K., & Jackson, E. T. (2012). Accelerating impact. achievements, challenges and what’s next in building the impact investing industry. New York City: The Rockefeller Foundation.Google Scholar
- Hehenberger, L., Harling, A.M., & Scholten, P. (2013). A practical guide to measuring and managing impact. Belgium: European Venture Philanthropy Association.Google Scholar
- Hoogendoorn, B. (2011). Social entrepreneurship in the modern economy: Warm glow, cold feet. Netherlands: Erasmus University Rotterdam.Google Scholar
- Kohli, J., Besharov, D. J., & Costa, K. (2012). Social impact bonds 101. Defining an innovative new financing tool for social programs. Washington, DC: Center for American Progress.Google Scholar
- Kolk, A. (2005). Sustainability reporting. Vba Journal nr, 3, 2005.Google Scholar
- Kramer, M. R. (2005). Measuring innovation: Evaluation in the field of social entrepreneurship, Foundation Strategy Group.Google Scholar
- Le Ber, M., Bansal, P., & Branzei, O. (2010). Managing the tensions between social and economic value in hybrid organizations, conference proceedings A.S.A.C. 2010 Enterprising our world, sustainable business in action, 22–25th May, Regina (Sk).Google Scholar
- Maas, K., & Liket, K. (2011). Social impact measurement: Classification of methods. In Burritt, R., Schaltegger, S., Bennett, M., Pohjola, T., Csutora, M. (Eds.), Environmental management accounting and supply chain management, eco-efficiency in industry and science (Vol. 27, pp. 171–202).Google Scholar
- Nicholls, J. (2007). Why measuring and communicating social value can help social enterprise become more competitive. Cabinet Office, Office of the Third Sector. http://evpa.eu.com/wp-content/uploads/2010/09/Why-measuring-and-communicating-social-value-can-help-social-enterprise-become-more-competitive1.pdf.
- O’Donohoe, N., Leijonhufvud, C., Saltuk, Y., Bugg-Levine, A., & Brandenburg, M. (2010). Impact investments: An emerging asset class. JP Morgan, 6.Google Scholar
- Porter, M. (1980). Competitive Strategy. New York: Free Press.Google Scholar
- Porter, M. E., Hills, G., Pfitzer, M., Patscheke, S., Hawkins, E. (2012). Measuring shared value how to unlock value by linking social and business results, FSG. http://www.fsg.org/Portals/0/Uploads/Documents/PDF/Measuring_Shared_Value.pdf. Accessed May 15, 2012.
- Porter, M. E., & Kramer, M. R. (2011). Creating shared value. Harvard Business Review, 62–77.Google Scholar
- Porter, M. E., & Kramer, M. R. (2006). Strategy and society. Harvard Business Review, 84(12), 78–92.Google Scholar
- Post, J., Preston, L., & Sachs, S. (2002). Redefining the corporation: Stakeholder management and organisational wealth. Palo Alto: Stanford University Press.Google Scholar
- Prahalad, C. K. (2004). The fortune at the bottom of the pyramid: Eradicating poverty through profits.Google Scholar
- RBC Social Finance. (2014). Financing social good: A primer on impact investing in Canada, http://www.rbc.com/community-sustainability/_assets-custom/pdf/Financing-Social-Good.pdf.
- Reisman, J., & Giennap, A. (2004). Theory of change: A practical tool for action, results and learning, organizational research services. Erasmus University Rotterdam. http://www.erim.eur.nl/portal/page/portal/ERIM/Research/Centres/Erasmus_Centre_for_Strategic_Philanthropy/Research/Publications/Social_Impact_Measurement_voor_sso_nieuwsbrief%5B1%5D.pdf.
- Richmond, B. J, Mook, L., & Quarter, J. (2003) Social accounting for non profits. Two models. Non-profit Management and Leadership, 13(4).Google Scholar
- Social Impact Investing Taskforce. (2014). La finanza che include: gli investimenti ad impatto sociale per una nuova economia, Rapporto italiano della social impact investment task force istituita in ambito g8.Google Scholar
- SustainAbility. (2003). The triple bottom line http://www.sustainability.com/philosophy/triple-bottom/tbl-intro.asp.
- Vanclay, F. (1999). Social impact assessment. In Petts, J (Eds.) Handbook of environmental impact assessment, Vol. 1, pp. 301–326. Oxford: Blackwell Science.Google Scholar
- Wainwright, S. (2002). Measuring impact: A guide to resources. NCVO Publications, London.Google Scholar