Measuring Social Value for Social Enterprises: A Review of Current Methods
Journal Title: International Journal of Business and Applied Social Science - Year 2018, Vol 4, Issue 10
Abstract
For a long time, social enterprises and non-profits have relied purely on qualitative arguments about their impact, however, reliance on such arguments alone leave us unable to quantify the true impact and effectiveness of these organizations or compare the effectiveness between organizations. To address this problem, this paper aims to perform a review of several measurement tools and frameworks in the literature. This effort will include discussions of the strengths and weaknesses of the methods, as well as their relatedness to the questions often requiring answers from entrepreneurs by stakeholder’s donors, foundations, volunteers, etc. Similarities exist between social enterprises and traditional organizations, yet major challenges remain in determining what appropriate measurement tools to use for value created by these organizations. From mainly a theoretical perspective, this paper analyzed the generally recognized models and frameworks in the literature, highlighting their usefulness to social value measurement. However in-exhaustive, it effectively presents analysis of how social impacts are measured and what tools are best suited for social enterprises.
Authors and Affiliations
Nnamdi Osakwe, D. Mgt, D. B. A.
Keywords
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