Helen vines 10.20am swf social value what is value 1012
South West Forum – 17th October 2012What is social value?
VALUE (noun)1. the desirability of a thing, often in respect of some property such as usefulness or exchangeability; worth, merit, or importance2. an amount, esp a material or monetary one, considered to be a fair exchange in return for a thing; assigned valuation: the value of the picture is £10 0003. reasonable or equivalent return; satisfaction: value for money (World English Dictionary - Collins)
In small groups discuss:a) What is social value?b) What does socialvalue look like foryou in your work?
"social value refers to wider non-financial impactsof programmes, organisations and interventions,including the wellbeing of individuals andcommunities, social capital and the environment.These are typically described as soft outcomes,mainly because they are difficult to quantify andmeasure.“Measuring Social Value, Demos
"additional benefit to the community from a commissioning/procurement process over and above the direct purchasing of goods, services and outcomes."The Social Value Commissioning Project conducted by NorthWest NHS
There is no universal definition of “social value”. Social Enterprise UK describe it thus:“It involves looking beyond the price of each individual contract and looking at what the collective benefit to a community is when a public body chooses to award a contract.Social value asks the question: “If £1 is spent on the delivery ofservices, can that same £1 be used, to also produce a widerbenefit to the community”.In other words, what are the additional benefits to thecommunity, be they social, economic or environmental, which cancome from this procurement process over and above the directpurchasing of the services?
Who’s value is it anyway? Value is context and stakeholder specific However, there is a common architecture behind value, the elements of which could be summarised as: looking at effect or change (OUTCOMES), not just inputs and activities, or in the language of the Act " improvement in wellbeing" value builds on (but is not just) effect, it deals with relative importance of effect recognising that different stakeholders value those effects differently.