GSVC Social Impact Assessment

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GSVC Social Impact Assessment Webinar

Transcript of GSVC Social Impact Assessment

  • 1.GSVC Social Impact Assessment WebinarPresented at the Haas School of BusinessOctober 16 2007

2. Purpose The objective is to answer 3 key questions:1. What is a social impact assessment? 2. What is its value? 3. How is it developed? More detailed resources are available online 3. Workshop Overview I: Social Ventures - Defining Value Sara Olsen, Social Venture Technology Group II: Building the SIA Joel Ramirez and Jeff Kang, GSVC Research 4. I: Social Ventures - Defining ValueSara Olsen, SVT Group 5. II: Building the SIA GSVC SIA Framework Overview Insights from GSVC 2007 Entrant Timeline Resources 6. The GSVC SIA Framework Various approaches are used to measure social impact REDF, Acumen Fund, World Bank GSVC developed its own SIA framework Support early stage ventures in social impact measurement Central aspect of the competition (SIA Award is given to the plan with the best assessment model) 7. Existing Approaches GSVC Source: S. Olsen, J. Nicholls. A Framework for Approaches to SROI Analysis, May 2005. 8. The GSVC SIA Framework Define.Quantify. Monetize.All GSVC entrants are required to complete these three steps to demonstrate social value creation in financial termsDefine Quantify MonetizeWhat is your social How will you measure What is the $ value of value proposition? social return? your impact? 9. The GSVC SIA Framework Define. Quantify. Monetize.Goal Define the non-financial benefits theventure creates ToolsTheory of ChangeImpact Value Chain CompetitionArticulate, in a sentence or more, the Requirements theory of change a compelling socialvalue proposition that is core to theventures desired social outcomes Tips Detailed and focused Theory of ChangeDevelop an Impact Value Chain 10. Theory of ChangeDefine.Quantify. Monetize.Human Service Fellowship (SIA Winner, 2005)Theory of Change:IF there is increased supply of HIV-trained laboravailable to NGOs in Africa THEN high-quality life-years will increase forHIV/AIDs infected patients 11. The GSVC SIA Framework Define. Quantify.Monetize.Goal Identify your top indicators of social valueToolsImpact Value ChainCompetitionArticulate the three most important Requirements measurable social indicators will moststrongly correlate with desired socialoutcomes and that can be tracked as partof normal business operations Tips Relate to Impact Value ChainDiscuss how they will be tracked 12. Impact Value ChainDefine.Quantify. Monetize.Human Service Fellowship (SIA Winner, 2005)Impact Value Chain:Inputs Activities OutputsOutcome Increased supply Health staff1. # health staff Increased high- of HIV-trained training trained quality life-years labor available to Systems setup 2. # AID S clinics saved (health) NGOs Management enabled3. # new patients treated Outputs are clear, quantifiable and mapped to social outcome 13. The GSVC SIA Framework Define. Quantify. Monetize.Goal Identify the dollar value equivalent of yoursocial impact to create a SROI ToolsGSVC 5-Step ProcessVarious frameworks (REDF) CompetitionMonetize the value of expected social Requirements impact over the next 10 years, using toolslike SROI analysis Tips Develop and state clear assumptionsInnovate upon on existing frameworksInclude both positive and negative outputsDiscuss tracking and monitoring plans 14. Five Step SROIDefine. Quantify. Monetize.GSVC SROI Framework1. Quantify outputs/outcomes where possible 2. Use proxies to translate outputs into financial equivalents 3. Develop social cash flow projection (10 yrs)- Subtract value of outputs/outcomes that would havehappened anyway- Calculate social NPV- Subtract operating and capital costs- If desired, calculate return (SROI, SIRR) 4. Discuss qualitative outcomes 5. Clearly cite your sources and assumptions 15. SIA Judging - Key QuestionsJudges will focus on several key criteria Define. How compelling is the theory of change? How integrated is the theory of change with the purpose of the business? How well is the social mission embedded in the business?Quantify. How measurable are the social indicators?Monetize. How credible are the assumptions and the projections? Does the plan describe a process for monitoring SIA over time? Has the analysis accounted for both the positive and the potential negative outcomes generated by business activities? Does the plan identify potential conflicts or paradoxes between managing for financial and social results? 16. What is a model SIA?SIA Award recipients best model the framework and contribute to the field of social impact measurementSIA Winner (2007): Compelling and Credible it was compellingthe analysis involved stakeholder analysis, was feasible and easy to monitor. SIA Honorable Mention (2005): Analytical Rigor excellent analytical approachserves as a positive example to current and future ventures.THE SIA Winner (2005): Strong Theory of Change HUMAN SERVICE The results of their SROI could not have been achievedFELLOWSHIP without their intervention Best SIA does not always = greatest social impact! 17. Insights from 2007Participants need more resources and a clear process: GSVC will provide SIA Office Hours to entrants and partners (more details to come) Building online resource library and tools Developing better coordinated judging timelineJudges suggest further emphasis on: Seamless integration into the business plan Clearly stated and well-referenced assumptions A clear and sustainable process to monitor SIA moving forward Inclusion of stakeholder analysis, if applicable 18. Entrants: 2008 SIA Timeline Executive SummaryGSVC Semi-FinalsSIA Finals TimeframeTimeframe Timeframe Now - Jan 16 Jan 18 - Feb 27 Mar 10 - Mar 24* Now - Nov (India)Suggested ActionsSuggested Actions Suggested Actions Read GSVC SIA Guidelines Research methods, proxies Incorporate judging feedback Develop Theory of Change Develop assumptions Draft Impact Value Chain Conduct SROI analysis Judging Process Judging Process Judging ProcessJudge Full SIA Analysis Judge Full SIA Analysis No specific judging of SIA (judged by each region) Innovative and high quality1 SIA Finalist per Region Judged by international panelFeedback to SIA FinalistsGSVC Resources GSVC ResourcesGSVC Resources Resource Library GSVC Office Hours GSVC Office HoursResource LibraryResource LibraryGSVC MentorsGSVC Mentors 19. Resource Library: www.gsvc.org2008 Social Impact GuideDetailed guidelines andrequirements arein the Resource Library Also Included: SROI Examples Related Links GSVC Workshop Materials 20. Additional Resources Resource Details Source 2007 SIA Workshop Cathy Clarks full SIA Presentationpresentation (2007) Double Bottom Line Review and description of, Project Catalogvarious social impact www.svtgroup.netframeworks REDF PublicationsPublications on frameworks,SROI case studies Social Edge (Skoll)Links to papers and Reference documents and http://www.blendedvalue.orgpresentations 21. Thank You!Please feel free to contact the GSVC Research Team with any SIA questions and feedback Jeff Kang, Joel Ramirez,