soket weekly night seminarMay 26th, 2011soket academy                         © 2011 soket All rights reserved.
Agenda	           •            •                 -­‐                 -­‐                 -­‐            •                 ...
• Input                      Output                              Outcome    GNP        0.7%           MDGs•               ...
• Input                        Impact              •                                                                3ie)  ...
© 2011 soket All rights reserved.
BSCAcumen                                              GIRS                SROI                                           ...
SROI      CSR3.5            © 2011 soket All rights reserved.
Soket Academy                                                  	                     •                                    ...
Agenda	           •            •                 -­‐                 -­‐                 -­‐            •                 ...
1                                     	•      1                                                               	     -­‐   ...
•      -­‐      -­‐      -­‐      -­‐  Gold Standard                                       Propensity Score          Match...
12© 2011 soket All rights reserved.
•      -­‐      -­‐      -­‐      -­‐      -­‐                                                      13            © 2011 s...
Agenda	           •            •                 -­‐                 -­‐                 -­‐            •                 ...
2                                     	•      2                                                           	     -­‐       ...
REDF- SROI-                                          	 •  RED              Roberts Enterprise Development Fund   -­‐      ...
REDF- SROI- 	 •  SROI (          ocial Return on investment)    -­‐    REDF                                               ...
REDF- SROI- 	 •  SROI ( ocial Return on    investment)    -­‐                  “blended value    -­‐                Social...
GIIRS – Rockefeller Foundation’s promotion ( for ImpactInvesting)               	 GIIRS, a project of the independent non-...
GIIRS – Rockefeller Foundation’s promotion	 Key Features Driven by IRIS, an industry-recognized taxonomy and reporting sta...
Acumen Fund BACO Capabilities Assessment Matrix	Acumen Fund Metrics:                                                      ...
Acumen Fund BACO Capabilities Assessment Matrix	 Example Bednet Case The BACO calculation is essentially driven by three f...
Acumen Fund BACO Capabilities Assessment Matrix	                                                           23             ...
Cost Benefit Analysis                                                              	What Robin Hood Metrics Are           ...
Cost Benefit Analysis                                                                  	Measuring ExampleJOB Training Prog...
Expected Return - Methodology	     William and Flora Hewlett Foundation                                                   ...
Expected Return – Case & technical enhances 	      Case : Nigerian governance                                             ...
Cost and Benefit Analysis - Outlook	    The purpose of CBA is twofold:    1) o help decide whether a program or interventi...
Cost and Benefit Analysis – Technical issues and limitation	    The report identified a number of technical issues that cu...
1/4 	              BOP              BOPBOP            BOP                    …                  BOP                      B...
2/4 	■BOP                   (50Wp)CORE■    …                          (100               ×100  )■    …2010~2030■  Step1.  ...
3/4 	    ■                          R■■■                                            32        © 2011 soket All rights rese...
4/4 	■                                        TFP(   )   K(   )        NPV         GRP                                    ...
Agenda	           •            •                 -­‐                 -­‐                 -­‐            •                 ...
3                                  	•      3                      	     -­‐                                               ...
CSR                                                      3                           	 Internal                           ...
CSR                                              	CANPAN CSR+              Source: https://canpan.info/csr_info_view.do?u=...
Agenda	           •            •                 -­‐                 -­‐                 -­‐            •                 ...
soket academy                                                 	                                                           ...
May 26th, 2011This presentation was prepared by:Soket	  Academy	  Team	Mail : motoyuki.arai@soket.meURL : http://www.soket...
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「ソーシャルビジネスの評価」Soket academy 2011/05/28

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ソーシャル・ビジネスやBOPビジネスへの注目はますます高まっていますが、実際の効果はどこまで検証されているでしょうか。
開発援助における「評価」の議論を振り返りつつ、それをソーシャル・ビジネスに適用するとすれば、可能性や課題は何なのかを整理したいと思います。
チームのメンバーがそれぞれ調査した様々な評価手法をその特徴と共にご紹介します。

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「ソーシャルビジネスの評価」Soket academy 2011/05/28

  1. 1. soket weekly night seminarMay 26th, 2011soket academy © 2011 soket All rights reserved.
  2. 2. Agenda •  •  -­‐  -­‐  -­‐  •  2 © 2011 soket All rights reserved.
  3. 3. • Input Output Outcome GNP 0.7% MDGs•  BHN Inclusive GNI/c Development (?)•  -­‐  -­‐  -­‐  © 2011 soket All rights reserved.
  4. 4. • Input Impact •  3ie) • Outcome, Impact •  CDI •  •  or •  •  •  •  • Source: 4 © 2011 soket All rights reserved.
  5. 5. © 2011 soket All rights reserved.
  6. 6. BSCAcumen GIRS SROI UK SROI Input/Output BSC or © 2011 soket All rights reserved.
  7. 7. SROI CSR3.5 © 2011 soket All rights reserved.
  8. 8. Soket Academy •  • REDF • Acumen •  •  SROI • CSR © 2011 soket All rights reserved.
  9. 9. Agenda •  •  -­‐  -­‐  -­‐  •  9 © 2011 soket All rights reserved.
  10. 10. 1 •  1 -­‐  ODA BOP •  -­‐  ODA BOP -­‐  •  -­‐  Kopernik Kiva -­‐  Poverty Action Lab BOP -­‐  JICA ODA -­‐  Soket © 2011 soket All rights reserved.
  11. 11. •  -­‐  -­‐  -­‐  -­‐  Gold Standard Propensity Score Matching•  -­‐  -­‐  -­‐  -­‐  11 © 2011 soket All rights reserved.
  12. 12. 12© 2011 soket All rights reserved.
  13. 13. •  -­‐  -­‐  -­‐  -­‐  -­‐  13 © 2011 soket All rights reserved.
  14. 14. Agenda •  •  -­‐  -­‐  -­‐  •  14 © 2011 soket All rights reserved.
  15. 15. 2 •  2 -­‐  Input •  -­‐  Input ODA BOP -­‐  SROI -­‐  •  -­‐  REDF SROI -­‐  McKinsey TRASI -­‐  -­‐  © 2011 soket All rights reserved.
  16. 16. REDF- SROI- •  RED Roberts Enterprise Development Fund -­‐  1990 SROI(social return on investment) -­‐  URL http://www.redf.org/publications-sroi.htm http://www.neweconomics.org/gen/news_SROI.aspx http://www.redf.org/system/files/%281%29+REDFs+Current+Approach+to+SROI.pdf 16 © 2011 soket All rights reserved.
  17. 17. REDF- SROI- •  SROI ( ocial Return on investment) -­‐  REDF 2000 -­‐  Fund HP UCRA,HBS -­‐  Socio-economicvalue Economic Socio-Economic Social Value -­‐  TCAA*(True cost accounting analysis),NPV,DCF -­‐  * ⇔ http://www.redf.org/system/files/%284%29+SROI+Methodology+Paper+-+Chap+1+-+Investment+Philanthropy.pdf http://www.redf.org/system/files/%285%29+SROI+Methodology+Paper+-+Chap+2+-+REDF%27s+SROI+Approach.pdf 17 © 2011 soket All rights reserved.
  18. 18. REDF- SROI- •  SROI ( ocial Return on investment) -­‐  “blended value -­‐  Social value 18 © 2011 soket All rights reserved.
  19. 19. GIIRS – Rockefeller Foundation’s promotion ( for ImpactInvesting) GIIRS, a project of the independent non-profit B Lab, will assess the social and environmental impact (but not the financial performance) of companies and funds using a ratings approach analogous to Morningstar investment rankings or S&P credit risk ratings. GIIRS will include the following features: Company Ratings and Fund Ratings; Ratings in developed and emerging markets globally; Aggregate ratings, as well as ratings within numerous impact areas and industry sectors; Social and environmental performance metrics and key performance indicators specific to different industries, impact areas, and investor preferences; and Benchmarking and analytics for longitudinal comparability. What is a GIIRS Rating? GIIRS will provide both company and fund impact ratings, each with current and historical analyses of impact performance for comparative use. Company Impact Ratings — a rating of the social and environmental impact of an individual company, including an overall rating, ratings in 15 sub-categories, and key performance indicators (KPIs) relevant to the companys industry, geography, size, and social mission. Fund Impact Ratings — a rating of a funds impact based on the aggregated and weighted impact ratings of its underlying portfolio companies, including the aggregated Company sub-category ratings and relevant KPIs for the fund, and an assessment of fund manager practices. GIIRS will also offer a Fund Target Rating product to assist fund managers in their fundraising process and a Track Record Report at the end of their fund cycle to assist in raising a follow-on fund. 19 © 2011 soket All rights reserved.
  20. 20. GIIRS – Rockefeller Foundation’s promotion Key Features Driven by IRIS, an industry-recognized taxonomy and reporting standard co-developed by B Lab; Powered by the B Impact Ratings System; Ratings methodology developed and governed by an independent Standards Board; Ratings subject to the GIIRS validation process, executed with the support of a third-party documentation review. GIIRS provides value to numerous stakeholders in the impact investing community: Fund managers and companies can raise capital from mission-aligned investors based on the social and environmental impact of their underlying businesses or portfolio companies; Institutional and high net worth investors can conduct better due diligence, make better investment decisions, track and improve social and environmental performance throughout the investment lifecycle, and analyze absolute and relative impact; Consultants, investment bankers, and other investment advisors can use data and analytical tools to improve their own proprietary products or value-added services. 20 © 2011 soket All rights reserved.
  21. 21. Acumen Fund BACO Capabilities Assessment Matrix Acumen Fund Metrics: Acume FundBACO (Best Available Charitable Option)•  enchmark investment by answering the question: B -  elivering affordable, critical goods and services – like D -­‐  For each dollar invested, how much social health, water, housing and energy – through innovative, output will this generate over the life of the market-oriented approaches investment relative to the best available charitable option? Acumen•  o investment occurred in a vacuum, Acumen would N (BACO)have to defend its choices relation to other options in Acumen Due Diligence Teamthe same space, particularly non profit charities. Team BACO Capability Assessment MatrixCalculation sought to help philanthropic investors Teamdecide how their funds could be used most effectively Investment Committeeby comparing plausible alternatives. This approachcompared the investment to a relative benchmarkrather than an absolute onesCapabilities Assessment Matrix •  Acumen•  or due diligence of investment decision, FCapabilities Assessment Matrix is also created •  21 © 2011 soket All rights reserved.
  22. 22. Acumen Fund BACO Capabilities Assessment Matrix Example Bednet Case The BACO calculation is essentially driven by three factors: •  inancial leverage: since Acumen Fund seeks a return of capital through loans and equity, our F investments’ net costs are typically lower relative to grants. If Acumen makes a loan of $325,000 at a 6 percent annual interest rate, repaid over five years, we expect a return of $422,500, while grants are a sunk cost. (See Table 1.) •  nterprise efficiencies: because many of the BACOs are public sector or nonprofit delivery models, it is E our belief that private sector cost structures and incentives will enable Acumen’s investees to show 50 to 100 percent cost recovery in the implementation of a social project. For instance, a number of Acumen’s investees use a business-minded franchising strategy to impact low-income populations on a greater scale. In the example below, the bednet factory was able to reach economies of scale and keep costs low for higher outputs. (See Table 2 .) •  echnology leverage: in many cases the invention of a new product or business system can T fundamentally transform the output per unit. For example, the anti-malarial LLITNs in this investment are proven to last five times longer than regular insecticide-treated nets (ITNs) that dominate the charitable marketplace in Sub-Saharan Africa. New product innovation can typically show higher social output for each dollar invested and, therefore, a higher BACO ratio, even assuming the same cost structure. •  ACO ratio: The BACO calculation ultimately conveys the net cost per unit of social impact. The figures B in Table 3 are taken from Tables 1 and 2. Upon making the investment in A to Z, we could estimate that it would cost Acumen Fund less than $0.02 to protect one individual from malaria for one year, compared to $0.84 through the BACO. In other words, Acumen Fund’s investment in this scenario is 52 times more cost-effective than the best available charitable option. 22 © 2011 soket All rights reserved.
  23. 23. Acumen Fund BACO Capabilities Assessment Matrix 23 © 2011 soket All rights reserved.
  24. 24. Cost Benefit Analysis What Robin Hood Metrics Are NY•  standard for ranking grants, comparing the impact Aof similar and dissimilar programs.•  means of communicating to grantees how Robin AHood evaluates them. Benefit•  he basis for a common vocabulary within Robin T Cost (Hood, to our donors and in the nonprofit community. Benefit-Cost Ratio•  tool for achieving transparency. Robin Hood Awelcomes independent voices to examine, criticizeand help improve our metrics.•  diagnostic tool. What do our highest-scoring Agrantees have in common? Our lowest?•  method for assessing Robin Hood. We measure Aour own impact by the same metrics system used toevaluate grantees: how much poverty-fighting good • we do with each dollar we spend. •  24 © 2011 soket All rights reserved.
  25. 25. Cost Benefit Analysis Measuring ExampleJOB Training Program Case:Job-training groups admit trainees into their program. A fraction of the enrolling trainees graduate and a fraction of the graduatesare placed in jobs. A fraction of those placed in jobs have kept their jobs at various benchmarks: 90 days, one year and two yearsMeasuring: Raw placements in which the graduate keeps his or her job for one year (over time, we plan to increase our timehorizon to two years).•  he workers’ higher earnings accrue over their careers, stretching over decades. We calculate the present discounted value T(P.D.V) of the higher earnings to take account of timing.•  obin Hood Benefits =[Actual Job Placements] * [Robin Hood Factor] *[Avg. Earnings Boost] * [P.D.V.* $1/Year for 30 Years] R•  hus, take a program that trains and places 200 trainees, all of whom are single, childless adults, 20 percent of whom would lose Ttheir training slots if Robin Hood withdrew its grant (Robin Hood factor). The program is estimated to boost earnings of traineesplaced in jobs by an average of $2,500 per graduate, per year, and trainees are expected to work 30 years before they retire.Robin Hood benefits of this program would total $1.8 million:Robin Hood Benefits =[Actual Job Placements] * [Robin Hood Factor] *[Avg. Earnings Boost] * [P.D.V.* $1/Year for 30Years]= 200 * 1/5 * $2,500 * 18* = $1.8 millionIf the Robin Hood grant is for $200,000, then the benefit-cost ratio is:Benefit-Cost = $1.8 million / $200,000 = 9 : 1 25 © 2011 soket All rights reserved.
  26. 26. Expected Return - Methodology William and Flora Hewlett Foundation What’s the goal? Target defines the topical and proposed “Expected Return” that changes the geographic scope of all potential investments way program officers approach grant evaluation and the metric used to measure them. by reducing biases, making assumptions explicit, and creating consistency across program areas, How much good can it do? Benefits in a by quantifying the goals, benefits, risks, and perfect world measures an investment‘s costs of potential investments. potential results under ideal conditions. Is it a good bet? Likelihood of success takes risk into account. How much difference will we make? The philanthropy’s contribution describes the philanthropy‘s share of impact within a potential investment that includes other sources of funding. What’s the price tag? The cost expresses the size of a philanthropy‘s financial investment.William and Flora Hewlett Foundation, “Making Every Dollar Count” (2008) 26 © 2011 soket All rights reserved.
  27. 27. Expected Return – Case & technical enhances Case : Nigerian governance Technical Enhances Modeling interdependencies between investments - To make more accurate tradeoffs between investments, the interdependent relationships between specific strategies should be reflected within Expected Return modeling. Optimizing investment portfolios based on costs to foundations - Funding and staffing constraints and necessary conditions for investment establish boundaries for investment decisions, which were only taken into account •  $50 billion oil revenue & $1 billion aid / yr informally in the current analysis. •  92% of population is poor Discounting future benefits - Financial theory Expected Benefit : 200,000 poor people double incoms tells us that a dollar today is more valuable •  Benefit in perfect world : 8 million poor people than one received ten years from now. double incomes However, selecting an appropriate discount •  Likelihood of success: 25% rate for social investments is extremely difficult, •  Hewlett Contribution : financial 5%, =>10% and the choice of a rate can have a large •  Cost : $30 million during 8 yrs impact on the relative value of long-termWilliam and Flora Hewlett Foundation, “Making Every Dollar Count” (2008) investments. 27 © 2011 soket All rights reserved.
  28. 28. Cost and Benefit Analysis - Outlook The purpose of CBA is twofold: 1) o help decide whether a program or intervention is of value to the decision-maker t 2) o compare the program to alternatives and choose the one with the greatest measure of merit. t The output from cost-benefit analysis can be measures of net benefits (benefits – costs) also known as the net present value (NPV); the ratio of benefits to cost (benefit-cost ratios); or the internal rate of return (IRR)—which is the rate of growth a project is expected to generate. CBA is widely used across the public, private, and increasingly the nonprofit sector to help decision- makers prioritize or decide among various uses of funds for programs and projects. Bill & Melinda Gates Foundation, “Impact Planning and Improvement Measuring and/or Estimating Social Value Creation ” (2008) 28 © 2011 soket All rights reserved.
  29. 29. Cost and Benefit Analysis – Technical issues and limitation The report identified a number of technical issues that cut across many of the approaches. These issues include the use of: Assumptions •  xpert research E •  cenario Analysis S Discount rates •  %-5% drug, criminal justice, children 4 •  thers 10% O Timeframes •  EDF : 10% R •  obin Hood : 5yrs-30yers R Shadow prices •  hadow prices‘ or dollar values to attach to each of the short- and long-term outcomes that S a social program may affect Interdependencies • nterdependencies refers to the idea that the outcomes of one or a series of interventions I are dependent on other interventions. Value judgments •  eciding whether x outcome is really a benefit to person y dBill & Melinda Gates Foundation, “Impact Planning and Improvement Measuring and/or Estimating Social Value Creation ” (2008) 29 © 2011 soket All rights reserved.
  30. 30. 1/4 BOP BOPBOP BOP … BOP BOP … … …Market Market $ $ $ $ $ $ $ $ BOP BOPCompany Company CORE CORE 30 © 2011 soket All rights reserved.
  31. 31. 2/4 ■BOP (50Wp)CORE■ … (100 ×100 )■ …2010~2030■ Step1. Step2. → Step3. ↑ ↑ ↑ … + 31 © 2011 soket All rights reserved.
  32. 32. 3/4 ■ R■■■ 32 © 2011 soket All rights reserved.
  33. 33. 4/4 ■ TFP( ) K( ) NPV GRP 33 © 2011 soket All rights reserved.
  34. 34. Agenda •  •  -­‐  -­‐  -­‐  •  34 © 2011 soket All rights reserved.
  35. 35. 3 •  3 -­‐  etc •  -­‐  BOP -­‐  •  -­‐  CGD End of ODA -­‐  Porter -­‐  CSR © 2011 soket All rights reserved.
  36. 36. CSR 3 Internal External KPI CSR (key performance indicator) CANPAN CSR+ By Asian Sustainability Rating By CSR Asia Dow Jones Sustainability Indexes (DJSI) FTSE4Good 36 © 2011 soket All rights reserved.
  37. 37. CSR CANPAN CSR+ Source: https://canpan.info/csr_info_view.do?u=canon61 © 2011 soket All rights reserved.
  38. 38. Agenda •  •  -­‐  -­‐  -­‐  •  38 © 2011 soket All rights reserved.
  39. 39. soket academy Soket / Soket Academy • Input Impact •  • Outcome, Impact •  •  •  •  •  •  •  Open Platform © 2011 soket All rights reserved.
  40. 40. May 26th, 2011This presentation was prepared by:Soket  Academy  Team Mail : motoyuki.arai@soket.meURL : http://www.soket.meGlobal x Social Intrapreneurship Laboratory [ Disclaimer ]This document is protected under the copyright and any applicable laws in Japan as an unpublished work. This documentcontains information that is proprietary and confidential to soket or its technical alliance partners, which shall not be disclosedoutside or duplicated, used, or disclosed in whole or in part for any purpose other than to evaluate soket. Any use or disclosurein whole or in part of this information without the express written permission of soket is prohibited.© 2010 soket All rights reserved.

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