The Power of Local in Delivering Social Value
A briefing paper for business
So, what is social value and what does it mean for business?
As well as outlining the evolution of social value and what it means to business, the paper explores benefits and shares practical steps to adopting and embedding it in business models.
Learn What Social Value Could Mean For Your Business
Key learnings include:
- Moving from shareholder primacy to stakeholder value: Social Impact Analysis is critical in demonstrating the relationship between ESG and business performance
- Embedding social value: Core principals of successfully embedding social value include stakeholder engagement, transparency, understanding change through evidence, and verifying the results.
- Tracking community investment: Through tracking the inputs and outputs of community investment, it is possible to assess social value for businesses, measure the impact on the local community, and quantify the ‘local multiplier’ effect
- Successful delivery: Neighbourly reveals seven specific steps for how businesses can successfully deliver social value: identify, audit, consult, commit, reach out, communicate and evaluate.