Understanding Social Impact and Value Reports
Marquette's Social Innovation Initiative is offering an advanced learning opportunity that focuses on understanding social value impact.
Purpose: Various fields have developed methods to help understand and account for the social impact of non-profits, private business, and government activities. These fields include accounting, economics, evaluation, finance, planning, social research, and social entrepreneurship. Participants in this course will receive an introduction to social impact analysis that draws on practices and insights from these fields. The course is designed to help those who make grants, donations, or investments assess the social impact of the activities they fund. Participants will learn the components of a sound analysis of social impact, how to avoid potential pitfalls, and how to interpret social impact reports appropriately. Thus this introductory workshop will help users of social impact data and reports:
- understand, interpret, and critique information on the social impact of organizations, grants, and investments;
- understand what to ask for from providers of social impact data
Learning objectives: Students successfully completing this course will be able to:
- understand the different purposes of, and the different principles and terminology used in analysis of social impact;
- understand several frameworks currently used to analyze social impact;
- describe and explain the fundamental components of a basic assessment of the estimated social impacts of a given organization, project or venture;
- recognize and apply good practices in assessing social impact;
- critically evaluate social impact reports; and
- understand the role of engaging stakeholders as part of a robust analysis of social impact.
The course material has been developed by members of Social Value International (SVI) and with the support of SVI to promote the development of a set of globally accepted principles and practices for accounting for social value. Funders and investors would like better information on social impact to help them decide whether their money and the money they steward has been or is being put to good use. They would like information that is as objective and robust as possible, in keeping with the rigor of the due diligence and monitoring efforts they use for financial investments.
Requirements: This is an introductory course and does not require any specialist knowledge. However, basic understanding of accounting (eg, how to build a pro forma budget), finance (eg, the trade-off between risk and return), and research methods (eg, the differences between experimental and non-experimental research methods) is recommended.