GSVC Social Impact Assessment


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GSVC Social Impact Assessment Webinar

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GSVC Social Impact Assessment

  1. 1. GSVC Social Impact Assessment Webinar Presented at the Haas School of Business October 16 2007
  2. 2. Purpose The objective is to answer 3 key questions: 1. What is a social impact assessment? 2. What is it’s value? 3. How is it developed? More detailed resources are available online at
  3. 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. 4. I: Social Ventures - Defining Value Sara Olsen, SVT Group
  5. 5. II: Building the SIA GSVC SIA Framework Overview Insights from GSVC 2007 Entrant Timeline Resources
  6. 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. 7. Existing Approaches GSVC Source: S. Olsen, J. Nicholls. A Framework for Approaches to SROI Analysis, May 2005.
  8. 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 terms Define Quantify Monetize What is your social How will you measure What is the $ value of value proposition? social return? your impact?
  9. 9. The GSVC SIA Framework Define. Quantify. Monetize. Goal Define the non-financial benefits the venture creates Tools Theory of Change Impact Value Chain Competition Articulate, in a sentence or more, the Requirements theory of change — a compelling social value proposition that is core to the venture’s desired social outcomes Tips Detailed and focused Theory of Change Develop an Impact Value Chain
  10. 10. Theory of Change Define. Quantify. Monetize. Human Service Fellowship (SIA Winner, 2005) Theory of Change: IF there is increased supply of HIV-trained labor available to NGOs in Africa THEN high-quality life-years will increase for HIV/AIDs infected patients
  11. 11. The GSVC SIA Framework Define. Quantify. Monetize. Goal Identify your top indicators of social value Tools Impact Value Chain Competition Articulate the three most important Requirements measurable social indicators will most strongly correlate with desired social outcomes and that can be tracked as part of normal business operations Tips Relate to Impact Value Chain Discuss how they will be tracked
  12. 12. Impact Value Chain Define. Quantify. Monetize. Human Service Fellowship (SIA Winner, 2005) Impact Value Chain: Inputs Activities Outputs Outcome • Increased supply • Health staff 1. # 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 enabled 3. # new patients treated Outputs are clear, quantifiable and mapped to social outcome
  13. 13. The GSVC SIA Framework Define. Quantify. Monetize. Goal Identify the dollar value equivalent of your social impact to create a SROI Tools GSVC 5-Step Process Various frameworks (REDF) Competition Monetize the value of expected social Requirements impact over the next 10 years, using tools like SROI analysis Tips Develop and state clear assumptions Innovate upon on existing frameworks Include both positive and negative outputs Discuss tracking and monitoring plans
  14. 14. Five Step SROI Define. Quantify. Monetize. GSVC SROI Framework 1. 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 have happened 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. 15. SIA Judging - Key Questions Judges 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. 16. What is a model SIA? SIA Award recipients best model the framework and contribute to the field of social impact measurement SIA Winner (2007): Compelling and Credible “it was compelling…the analysis involved stakeholder analysis, was feasible and easy to monitor.” SIA Honorable Mention (2005): Analytical Rigor “…excellent analytical approach…serves 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 achieved FELLOWSHIP without their intervention” Best SIA does not always = greatest social impact!
  17. 17. Insights from 2007 Participants 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 timeline Judges 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. 18. Entrants: 2008 SIA Timeline Executive Summary GSVC Semi-Finals SIA Finals Timeframe Timeframe Timeframe Now - Jan 16 Jan 18 - Feb 27 Mar 10 - Mar 24* Now - Nov (India) Suggested Actions Suggested 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 Process Judge Full SIA Analysis Judge Full SIA Analysis No specific judging of SIA (judged by each region) Innovative and high quality 1 SIA Finalist per Region Judged by international panel Feedback to SIA Finalists GSVC Resources GSVC Resources GSVC Resources Resource Library GSVC Office Hours GSVC Office Hours Resource Library Resource Library GSVC Mentors GSVC Mentors
  19. 19. Resource Library: 2008 Social Impact Guide Detailed guidelines and requirements are in the Resource Library Also Included: • SROI Examples • Related Links • GSVC Workshop Materials
  20. 20. Additional Resources Resource Details Source 2007 SIA Workshop Cathy Clark’s full SIA Presentation presentation (2007) Double Bottom Line Review and description of, Project Catalog various social impact frameworks REDF Publications Publications on ns-past.htm measurement frameworks, SROI case studies Social Edge (Skoll) Links to papers and ources/edge- resources wiki/ImpactAssessment Reference documents and presentations
  21. 21. Thank You! Please feel free to contact the GSVC Research Team with any SIA questions and feedback • Jeff Kang, • Joel Ramirez,