Search results

The emergence of social entrepreneurship, since its nascent stage, brought to light the imminent need to make the social value creating models workable by measuring the value created by them. This study reviews the existing literature from the past two decades to establish the role of accounting techniques in the measurement of social value. Nine databases were searched with the word combination “SROI” and “social enterprise” to determine the number of publications related to the field and the trend in its publishing. A classification of themes from selected studies was conducted to establish the direction of research in this context. Social return on investment (SROI) has been tested as a compatible measure and its implementation in various scenarios produced results; however, the inadequacy of its outcomes gives rise to the question whether any measurement tool can be appropriate for social value measurement because there is a need to justify the measurement of social value. The current trends call for further research in the field of customized measurement tools for the measurement of social value.

This paper aims to contribute to the on-going debate about the best way to measure the economic effectiveness of public policies, as well to explore the possibility of using the social return on investment (SROI) method as one of the indicators.

This study combines the SROI method with the case study analysis and comparative study. The paper presents the process of economic evaluation with the use of the SROI methodology and its results, along with methodological and evaluation observations.

This study confirms some assumptions based both on the subject literature, as well as, on own experience related to the implementation of the evaluation, the author also points out dilemmas related to the use of SROI analysis and the possibility of using it to measure the effectiveness of social innovation projects.

The study contains several practical suggestions on the advantages and disadvantages of the SROI method in the evaluation of particular public policy intervention.

The paper includes implications for the use of SROI analysis of social innovation projects implemented in the frames of public policies.

The authors’ ambition is to provide practical suggestions on the advantages and disadvantages of the SROI method in the evaluation of particular public policy intervention and to contribute to the discussion about the possible space for comparing the results of economic evaluation based on the SROI method. Furthermore, it is different than most approaches to SROI analysis as the authors combine this method with the case study analysis and comparative study.

To evaluate the potential of social return on investment (SROI) and investment ready tools (IRT) in enabling social enterprises to address the credibility gap associated with their ability to build capacity and to adopt a more commercial/entrepreneurial approach to their activities.

The differences that exist between social and financial returns in social enterprises are discussed. Reports the results of interviews conducted with key informants from the social investment industry in Scotland and England to explore their personal understanding or experience of SROI, the tools they use at present to assess social enterprise sustainability and capacity for growth and potential for investment, their likes and dislikes of SROI, and how they see SROI moving forward in a Scottish and/or UK context.

The results indicated that, should social enterprises find a way to overcome the resource implications of implementing SROI, this would enable them to become the preferred investment vehicle for new sources of social finance.

Presents the findings from an MBA dissertation entitled “Is Measuring Social Return on Investment (SROI) a tool that can be used to raise the profile of social enterprises and help attract investment?” (Flockhart 2004) and includes preliminary findings from a pilot programme conducted by CEiS Ltd on the introduction of an Investment Ready Tool (IRT) for social enterprise.

The purpose of this paper is to examine the actual and potential utility of social return on investment (SROI) analysis as an instrument to strengthen the financial and social “case” for local authority sport and recreation services (SRS) in the context of recent research by the Association of Public Service Excellence.

The research for APSE, undertaken by the author, consisted of a survey and a series of interviews over 18 months with policy officers within leisure services across local authorities in England. Data on “making the case” for SRS is extracted from this research.

It is argued that SROI has utility where it can demonstrate the contribution of sport, physical activity and recreation to health policy, adult social care, education, youth crime reduction, place shaping agendas and community engagement, for example. However, findings of the APSE research imply that although SROI offers use value in making a case for retaining services, this method of assessment may not be widely employed for a number of political and practical reasons.

The research is limited to a sample of 55 local authorities in England from which generalisations are made.

In the context of the introduction of the Social Value Act in 2013, SROI offers use value in making a case for retaining or adapting discretionary services within emerging models of strategic commissioning. Implementation will however be challenging for SRS.

It is argued that without an evidence base, it is unlikely that a case can be made for retaining discretionary services that benefit local communities.

The Social Return on Investment (SROI) framework has been developed for mapping and measuring social impact. It may be used for legitimating organisations and projects. The framework is often criticised for its overemphasis of the SROI ratio, i.e. the relationship between monetised benefits and costs. This study aims to demonstrate how the SROI method legitimates organisations or projects with multiple other discursive ways besides the SROI ratio. It also discusses the status of these other ways of legitimation in relation to the quantifying and monetising core tendency of SROI.

The empirical data consist of an SROI guidebook and 12 SROI reports. Their study applies Theo van Leeuwen’s ideas for analysing the discursive legitimation of social practices. The study takes place broadly in the framework of Norman Fairclough’s critical discourse analysis, aided by qualitative content analysis.

In the analysis, the full spectrum of the van Leeuwenian legitimation means used by SROI – authorisation, rationalisation, moral evaluation and mythopoetical narration – is brought out in the data and the status and social context of the legitimation means are assessed and discussed. It is shown that there is existing potential for broader and more visible use of different legitimation means.

Based on the findings of the study, suggestions for the improvement of SROI reporting by a more balanced explicit use of the multitude of legitimation means are presented.

The study is original both in its subject (the spectrum of legitimation in SROI) and its method (qualitative discursive and contentual analysis of SROI as a legitimating discourse).

The purpose of this case study is to highlight the complexities involved in conducting a social return on investment (SROI) forecast in a small social enterprise, The Wooden Canal Boat Society.

This SROI forecast was a collaborative exercise between Tameside Metropolitan Borough Council and the Wooden Canal Boat Society. A case study methodology has been adopted in order to allow the voice of the first author, from the Local Authority, to come through.

The findings highlight that the process of scoping; gathering and analysing information; engaging with stakeholders and assigning evidence against proxies (London centric) is challenging and exhausting, yet it provides a rich learning experience for all those involved. The accuracy of the ratio is compromised and implicated by the time and resources that are available to invest the subjectivity of the data behind the ratio the judgements and decisions over who and how to include/exclude individuals from the SROI forecast. In short, the Wooden Canal Boat Society SROI forecast proved to be the tipping point in a successful grant application. However, SROI is not something the Local Authority are set to embrace more widely or would particularly recommend for the vast majority of their local social economy organisations.

As a case study paper, the authors do not seek to generalise. The case provides the reader with a stakeholder informed account of the experiences of being involved in a forecast SROI from the perspective of the first author from the Local Authority. In times of political change and economic austerity the climate in the UK social economy has significantly altered, particularly in the marketisation of services and funding provisions for health and social care. One implication of this shift that is reflected in the paper is Local Authority thinking in light of the Social Value Act, which passed through the UK Parliament in 2012.

The value of this case study provides academics and practitioners with an alternative perspective and rich commentary of the first author's narrative and reflections on the process of SROI and the dynamics involved in arriving at the ratio.

Social return on investment (SROI) is a systematic way of incorporating social values of different stakeholders into public sector decision-making on sustainability. This study aims to identify salient factors that influence SROI implementation.

The interactions of four Dutch municipalities and their social enterprises were examined, by analyzing relevant documents and interviewing key actors.

External forces appear to have little influence on SROI implementation. Management systems, legal restrictions in relation to privacy and the administrative burden appear to hinder SROI implementation. Findings suggest that trust among the parties involved and their representatives is a major driver for SROI development. SROI is not measured well enough, which complicates analyzing and reporting its development.

Achieving collaboration through trust is a characteristic of stewardship theory, and therefore useful for studying social sustainability. Combining agency and stewardship theory provides useful insights concerning the application of control mechanisms versus empowerment.

Barriers can be overcome by informing and engaging suppliers in SROI initiatives. Furthermore, findings of this study suggest that it is easier for municipalities to incorporate SROI when social firm activities are insourced. An independent procurement function stimulates SROI development. Engaged professionals can make the difference in SROI policy implementation, more so than written policies.

SROI enables social sustainability. SROI can be used by public agencies to provide meaningful activities for the long-term unemployed and underprivileged adolescents.

The study is the first empirical work that relates public procurement to SROI implementation and its effect on suppliers. The findings provide valuable insights into government influence on social enterprises.

This study aims to assess the effectiveness of social return on investment (SROI) as a measure of the social impact produced by non-profit organisations and social enterprises that support family-centred care, an approach that focuses on the pivotal role of families in paediatric health care.

The study offers an analytical evaluation of the SROI created by the Italian branch of the Ronald McDonald House Charities and highlights (a) the participatory analysis of stakeholders and outcomes; (b) the measurement of inputs; (c) the definition of outputs and proxies for the measurement of outcomes; (d) the calculation of the SROI ratio; and (e) the results of a sensitivity analysis.

This study discusses the advantages and shortcomings of SROI analyses, the practical implications of this research on governance and management and the role of engagement in managing the expectations of stakeholders. The value of SROI measurements in shaping strategic and management decisions – with special emphasis on stakeholder relations – is also discussed.

Non-profit organisations and social enterprises often require tools that assess the outcomes of their activities. The present research can provide new guidance to SROI analysts, while drawing attention to the most suitable proxies and indicators for evaluating the SROI of organisations operating in the health care sector.

Social return on investment (SROI) has received increasing attention, both academically and professionally, since it was initially developed by the Roberts Enterprise Development Fund in the USA in the mid-1990s. Based on a systematic review of the literature that highlights the potential and limitations related to the academic and professional development of the SROI model, the purpose of this study is to systematize the academic debate and contribute to the future research agenda of blended value accounting.

Relying on the preferred reporting items for systematic reviews and meta-analyses approach, this study endeavors to provide reliable academic insights into the factors driving the usage of the SROI model and its further development.

A systematic literature review produced a final data set of 284 studies. The results reveal that despite the procedural accuracy characterizing the description of the model, bias-driven methodological implications, availability of resources and sector specificities can influence the type of approach taken by scholars and practitioners.

To dispel the conceptual and practical haze, this study discusses the results found, especially regarding the potential solutions offered to overcome the SROI limitations presented, as well as offers suggestions for future research.

This study aims to fill a gap in the literature and enhance a conceptual debate on the future of accounting when it concerns a blended value proposition.

The purpose of this article is to explore three technical challenges and misconceptions involved in measuring social return on investment (SROI). Although there is considerable information available about the conceptual framework of SROI, its application is a relatively young discipline. As a result, there is great variability in how SROI is applied across interventions. This makes robust and consistent comparisons across social ventures difficult, while rendering the validity of SROI measures vulnerable to contestation. This article looks at some of the least discussed yet significant technical challenges and misconceptions in working with SROI, based on the authors ' experience of measuring social investment returns.

The authors ' approach is economic, and they approach the misconceptions and challenges of using SROI from a technical standpoint. Specifically, they identify three technical issues: the use of discount values, the incorporation of overhead costs and determinations of the counterfactual.

The authors offer some solutions to these technical challenges and highlight wider issues around the drive to isolate social impact to attract funding for social enterprise.

Limitations of the paper relate to the authors ' own inability, at this stage, to test out their solutions to these technical challenges with case studies.

The practical implications of this paper are that the authors offer social enterprises and social impact practitioners an understanding of little-understood technical challenges related to the SROI process. They also highlight how these might be solved through alternative methods.

The originality of this paper is that the authors use an economic analysis to highlight little-understood technical challenges with SROI.