Social Value is the value that stakeholders place on changes in their lives. Some, but not all of this value is captured in market prices. What about the rest? The Principles of Social Value provide the basic building blocks for anyone who wants to make decisions that take this wider definition of value into account, in order to increase equality, improve wellbeing and increase environmental sustainability.
The 7 Principles have been developed by Social Value International and draw from the fields of evaluation, auditing and accounting. The Principles are not prescriptive rules and so applying them requires judgements. This is where evaluators excel. Knowing more about these Principles can enhance our ability to help organisations understand and be accountable for more than achieving defined objectives, but whether and how they have created social value.
The session will walk through the Principles with worked examples, followed by a virtual discussion where you are invited to share your questions, concerns, and potential applications of the Principles.
Taimur Siddiqi is the founding director of The Incus Group, a purpose-driven consultancy focused on social value measurement and evaluation. He is an experienced social value practitioner and trainer, who has consulted to community organisations, corporates and government agencies for the past decade.
This seminar was organised by the Victorian Regional Network Committee of the AES. Our seminar series provides an opportunity for you to meet with AES members and others in the evaluation community and to share and learn from the experiences of fellow evaluators.
