| Preface | 6 |
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| Contents | 9 |
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| About the Authors | 18 |
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| List of Figures | 20 |
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| List of Tables | 22 |
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| 1 Introduction: What Is an SROI Analysis? How Does It Relate to Other Forms of Analysis? Why Is Impact Key? | 24 |
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| 1.1Impact Above Everything Else? The Trend Towards Impact Measurement and Analysis | 28 |
| 1.1.1What Do We Want to Contribute With This Book? Overview of the Approach | 33 |
| 1.1.2How Should You Read the Book? | 35 |
| 1.2How Does SROI Analysis Compare to Other Methods of Impact Measurement and Analysis? A Comprehensive Approach | 35 |
| 1.2.1SROI Analysis in a Nutshell: A Summary | 37 |
| 1.2.1.1 Origin | 37 |
| 1.2.1.2 General Approach | 37 |
| 1.2.2Social Impact Measurement vs. Social Impact Analysis: Where Should SROI Be Positioned? | 40 |
| 1.2.3How is SROI Analysis Distinguished from Other Methods of (Economic) Impact Analysis or Social Impact Measurement? | 43 |
| 1.2.3.1 Economic Impact Analyses in the Tradition of Evaluation | 43 |
| 1.2.3.2 Social Impact Reporting, Social Accounting and Sustainability Rating Approaches—The Reporting Side | 45 |
| 1.2.3.3 Impact Measurement and Social Impact in the Tradition of Development Aid and of Social and Environmental Impact Assessment | 47 |
| 1.2.3.4 Other Impact Analysis and Measurement Approaches | 49 |
| 1.2.4How Is SROI Analysis Conceptually Situated as Relates to Other Methods? A Mental and Analytical Framework with a Social Science Focus | 50 |
| 1.3Is There Only One Form of SROI Analysis? Proposed Typology | 54 |
| 1.4SROI: The Way to Measure Impact | 57 |
| References | 58 |
| 2 What Interests Do Organisations Pursue with an Impact Analysis? A Guide | 66 |
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| 2.1Introduction: Why Impact Measurement? | 67 |
| 2.2How Does Interest in an SROI Analysis Emerge? | 69 |
| 2.2.1Communication to the Outside | 70 |
| 2.2.1.1 Legitimacy | 70 |
| 2.2.1.2 Fund-Raising | 72 |
| 2.2.2The Trend Towards Impact Measurement | 73 |
| 2.2.2.1 The Endeavour to Be a Pioneer, or the Need to Keep Up | 73 |
| 2.2.2.2 Political Targets and Political Support | 74 |
| 2.2.3The Strategic Interests of an Organisation | 76 |
| 2.2.3.1 What Do Organisations Expect of SROI Analyses? | 77 |
| 2.2.3.2 The Business Feasibility Perspective | 78 |
| 2.2.3.3 Non-profit Reservations | 79 |
| 2.3The Joint Learning Process | 80 |
| 2.4What Application of the SROI Methodology Is Intended? | 81 |
| 2.4.1Prospective Estimation of the Potential for Social Value Added | 81 |
| 2.4.2Formative Evaluation of Success or Prospects for Success | 83 |
| 2.4.3Summative Analysis of the Social Value Added Actually Achieved | 84 |
| 2.5Who Should Perform the Analysis? | 85 |
| 2.6Conclusion | 90 |
| References | 91 |
| 3 SROI in the Context of Policy and Governance Developments | 93 |
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| 3.1Social Investment and Impact: New Policy Styles, Governance Tools and Their Implications | 94 |
| 3.1.1From Welfare to Social Investment | 95 |
| 3.1.2Challenges for Impact Measurement and Society | 99 |
| 3.2SROI and European Policy Developments | 102 |
| 3.2.1Impact Measurement Between Specific Policy Initiatives and Market Building | 103 |
| 3.2.2Impact Measurement and Standardisation: Process Standards | 106 |
| 3.3Impact Measurement and Public Policy: Conclusion | 110 |
| References | 112 |
| 4 How Are Impacts Identified? The Impact Model | 115 |
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| 4.1Impact Model—Where Does It Come from and for What Purpose? The Introduction | 116 |
| 4.1.1For What Purpose Is the Impact Model Necessary? | 116 |
| 4.1.2Where Does the Impact Model Come from? | 117 |
| 4.2Impact Model: What Is It? | 118 |
| 4.2.1Conditions: Context, Target Group Specifics, Inputs (Resources), Structure | 121 |
| 4.2.2Plan: Concept | 122 |
| 4.2.3Implementation: Process/Activities | 122 |
| 4.2.4Outputs | 123 |
| 4.2.5Outcome: Impacts | 124 |
| 4.3What Levels of Impact Measurement Can Be Distinguished? | 125 |
| 4.4What Does Deadweight Mean? | 127 |
| 4.5Theory of Change or Impact Model? What Is the Difference? | 130 |
| 4.6What Role Do the Stakeholders Play? | 131 |
| 4.7Who Are the Relevant Stakeholders and How Are Their Impacts Identified? | 134 |
| 4.8Summary | 137 |
| References | 139 |
| 5 How Can Impact Dimensions Be Operationalised? | 142 |
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| 5.1What Do Impact Models Achieve for the Goals of Projects and Organisations? | 143 |
| 5.1.1Conceptualising and Modelling Impact Through Stakeholder Dialogues | 143 |
| 5.1.2Selecting Dimensions, Making Decisions and Proving Impact | 145 |
| 5.2What Basic Building Blocks Do All Impact Models Have in Common? | 147 |
| 5.2.1Functions and Roles of Non-profit and Social Purpose Organisations | 148 |
| 5.2.2The Special Character of the Political and Environmental Dimension | 150 |
| 5.2.3Physiological and Psychological Effects | 153 |
| 5.3The Complexity of Returns: Differentiating the Levels of Impact | 154 |
| 5.3.1The Bull’s Eye of System Innovation | 154 |
| 5.3.2Levels of Impact: Enriching and Relating the Functional Dimensions | 156 |
| 5.3.3Priorities and “Nice to Have’s” | 159 |
| 5.4An Integrated “Impact Construction Kit” and Paths to Comparability | 161 |
| 5.4.1Currencies and “Exchange Rates” of Different Social Interventions | 162 |
| 5.4.2Benchmarks Beyond Money and Methodological Challenges | 165 |
| 5.5Where Are the Limits of SROI? | 170 |
| References | 171 |
| 6 How Can Impact Be Gathered? Study Design and Empirical Execution | 175 |
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| 6.1Comprehending Impact: What and How Do
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