INNOVATIVE MEASUREMENT OF SOCIAL VALUE BLENDING THE PUBLIC, PRIVATE AND THIRD SECTORS IN THE UK
INNOVATIVE MEASUREMENT OF SOCIAL VALUE BLENDING THE PUBLIC, PRIVATE AND THIRD SECTORS IN THE UK

Author(s): Jaroslava Hrabětová, John Daly, Marie Dohnalová, Steven McCabe
Subject(s): Social Sciences, Economy
Published by: Vysoká škola ekonomická v Praze
Keywords: Social Value; Social Impact; Social Innovation; Social Earnings Ratio; Public; Private and Third sectors
Summary/Abstract: In contemporary society there is an increasing importance attached to measuring social value and social impact organizations in the public, private and third sector create. In particular public and third sector organisations as a result of ongoing austerity measures face persistent uncertainties in regard to revenues which impact upon services and need to prove quality, efficiency, purpose and transparency for varied stakeholders including commissioners, funders grant stipulations, oversight agencies, and community. This paper presents results of three social value analyses: a) Willmott Dixon a private company in the construction and property sector (2014), b) Made in Corby third sector arts project, Northamptonshire (2015), c) West Midlands Fire Service (2015) public sector procurement pilot. The chosen quantitative methodology for social value analyses is the Social Earnings Ratio (S/E Ratio) the fastest growing metric currently being adopted in the field of social value measurement, a disruptive, social innovative metric based on international General Accounting Principles (GAP)converting sentiment into financial value. The approach has been developed by the UK based Centre for Citizenship, Enterprise and Governance (CCEG) providing a low cost, high volume measure of social impact intangibles or social value providing a single benchmark able metric of organisations across all sectors.

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