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Social Venture Planning Assessing Your Venture's Social Impact Jill Kickul, Ph.D., Director Stewart Satter Program in Social Entrepreneurship NYU Stern’s.

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Presentation on theme: "Social Venture Planning Assessing Your Venture's Social Impact Jill Kickul, Ph.D., Director Stewart Satter Program in Social Entrepreneurship NYU Stern’s."— Presentation transcript:

1 Social Venture Planning Assessing Your Venture's Social Impact Jill Kickul, Ph.D., Director Stewart Satter Program in Social Entrepreneurship NYU Stern’s 6 th Annual Social Venture Competition

2 Merging Two Perspectives 2 Development societal perspective E.g. Economic Growth/GDP Poverty Alleviation Education Social Stability Public Health Human Rights Governance Capacity Building Enterprise Development Environmental Sustainability Broader development contribution Business perspective Infrastructure Innovation Itself Products and Services Jobs Skills and Training Procurement Taxes Corporate Governance Environmental Management Business activity Direct impacts Indirect impacts Resources

3 Defining Social Impact Our working definition of social impact ▪ A meaningful change in economic, social, cultural, environmental, and /or political conditions… ▪ …due to specific actions and behavioral changes… ▪ …by individuals, communities, and / or society as a whole

4  1. Define Your Social Value Proposition Theory of Change and Social Impact Value Chain  2. Quantify Your Social Value Top 3-4 measurable social indicators, to be tracked  3. Monetize Your Social Value Using tools similar to SROI analysis

5 What is a “Theory of Change” Based on your understanding of the problem, what is your theory about which actions will lead to the results you want to achieve? A Theory of Change offers a clear roadmap to achieving results by identifying the preconditions, pathways, and interventions necessary for an initiative’s success. It’s a statement about causality. 5

6 Examples Habitat for Humanity – Providing families with simple, decent, affordable housing will break the cycle of generational poverty. Low Cost Eyeglasses – Delivering affordable corrective eyewear to the 1 billion people in the developing world who need it and can’t get it will raise the standard of living in those countries through enhanced educational and employment opportunities for the wearers. Charter schools – Offering parents & students choice in public schools creates competition, which will spur innovation and lead to higher performing schools and better educational outcomes. 6

7 InputsActivitiesOutputsOutcomesImpact* Resources invested to enable activities What the initiative does with the inputs to fulfill its objectives and produce outputs and outcomes Direct products and immediate results of the activities Medium term results of the initiative which affect constituents Long-term results of achieving specific outcomes for constituents ▪ Assessing outcomes allows real-time learning that can guide improvements while an initiative is underway ▪ Outcomes provide action-oriented proxies for impact ▪ Outcomes are easier and more affordable to track than impact measures Developing Your Own Value Chain - Impact

8 Environment Improved quality of water, air, living conditions Financial savings by eliminating need for future environmental cleanup Increased preservation of biodiversity by responsible product sourcing Health Improved quality of life due to improved disease outcomes or living conditions Improved life expectancy due to disease prevention measures Education Improved job opportunities resulting from completion of high school/college Decreased cost to society of crime associated with poor school attendance or poor socialization

9 Solar Panel Retailer – believes that deriving energy from solar power is cleaner and less harmful for the environment may define its social indicators as: – # of solar panels installed per fiscal year – % of panels installed that replace other forms of energy – Savings in air emissions related to non-solar power energy generation per sale

10 Why? – Increases credibility – Establishes metrics to evaluate a venture’s effectiveness in achieving desired social impact – Facilitates planning and communication with socially minded investors – Stimulates and facilitates capital flow – Attracts a broader range of investors to the market

11 Do Something Cost-Benefit Analysis Example

12 Social Entrepreneurship – Entrepreneurship That Has An Impact ! Other Resources www.foundationcenter.org/trasi

13 Initiative Target user ▪ Melinda T. Tuan for the Bill and Melinda Gates Foundation – Analysis of 8 integrated cost approaches to measuring and/or estimating social value creative ▪ Summarize 8 methodologies and analyze each methodology’s strengths, limitations, and utilization, and the cross-cutting issues and learnings for the sector; continue the dialogue in the sector regarding the possibilities for improving the overall practice of integrating a cost perspective into strategy measurement and decision making ▪ Foundations ▪ NGOs ▪ Other donors ▪ Program clusters ▪ Grantees ▪ Social Enterprises Objective of effort ▪ Social Venture Technologies for the Rockefeller Foundation – Catalogue of approaches to impact measurement for impact investors ▪ Review methods to measure impact in private equity and debt contexts ▪ Social investors ▪ Social enterprises ▪ Grantmakers for Effective Organizations – multiple publications including Learning for Results ▪ Report on learning organizations and strategies to embed learning in day to day grantmaking work ▪ Foundations ▪ Grantees ▪ Foundations ▪ Center for What Works – Foundation Effectiveness Toolkit ▪ Develop a toolkit of online products and services to assist smaller foundations with limited staff capabilities to conduct and implement performance measurement for themselves and their grantees ▪ Foundations ▪ Program clusters ▪ Grantees ▪ GiveWell.net ▪ Identify top charities for individual donors and create a global, public open conversation about how best to help people ▪ Individual donors ▪ NGOs ▪ New Philanthropy Capital – Association of Non Profit Analysts ▪ Create a cadre of professional non-profit analysts with standard approaches to assessing social impact ▪ Foundations ▪ Other Donors ▪ NGOs

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