This chapter will explore the development of social impact measurement, with a focus on how social value and social impact measurement has amplified, both within academia and within policy and practice. Whilst much of this growth has been in Europe, North America and Oceania, there is rapidly increasing government support in this area now in Asia, Africa and South America. This chapter will set the scene for the subsequent chapters, with their thematic focuses on measurement (specifically in the framing of measurement within the SDGs), finance, collaboration, power and ethics. It will finish with a section on the potential for development in the social impact measurement sector moving forwards, in a way that will set the scene for subsequent chapters. [Relevant SDGs: SDG17: Partnerships for the Goals].
Introducing Social Impact MeasurementThe social impact measurement sector has grown exponentially over the last few decades, going from a niche area to one that is deeply embedded within government policy, investor behaviour and third sector management (as well as growing in the private sector). The growth of Corporate Social Responsibility (see Chapter 8 for further information on Corporate Social Responsibility), Environmental and Social Governance (ESG), green investing, impact investing, as well as new policy mechanisms such as Payment by Results contracts (PbR), Social Impact Bonds (SIBs) and outcomes-based commissioning have all played a part in this growth. This growth in pluralistic policy mechanisms, investment markets and a growing awareness of the need for sustainable growth, have all combined to drive interest in social impact measurement (Kah and Akenroye 2020).
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Social impact measurement has received increasing attention, with organisations under pressure to evidence outcomes and impact of activities (specifically, activities aligned with SDGs). Obtaining evidence requires interaction with beneficiaries and stakeholders to understand the impact of activities on their lives, as well as information gathered from big data. This chapter will identify how the processes for collecting data (to measure social impact) can result in ethical violations that directly impact individuals and society. It will explore the decision processes in obtaining data which is essential in promoting research that is underpinned by strong ethical principles. The chapter will end with the provision of an ethical framework for measuring social impact [Relevant SDGs: SDG16: Peace, Justice and Strong Institutions; SDG17: Partnerships for the Goals].
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