Collaborative Approaches to Social Impact Measurement: Insights from the Think Tank at Universidad Pontificia Comillas

Abstract

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This chapter delves into the pressing need for effective measurement of social impact in the context of the evolving Impact Economy. It emphasizes the increasing societal demands for transparency and accountability in both public and private fund allocations, highlighting the shift towards evaluating the contribution to common welfare rather than just resource use. The study is anchored in the premise that social impact, encompassing positive contributions to social and environmental wellbeing, must be rigorously measured to counter greenwashing and opacity. The chapter is grounded methodologically in an adaptation of Empowerment Evaluation, involving over 50 organizations from Spain’s social impact ecosystem. This think tank collaboratively explores evaluation principles and methodologies for measuring social impact, with a focus on democratic functioning and shared ownership. The chapter’s findings present a conceptualization of Social Impact (SI) and Impact Measurement and Management (IMM), addressing the ambiguities and inconsistencies in existing definitions and proposing a more inclusive and pragmatic approach. This approach incorporates stakeholder perspectives and considers both positive and negative, tangible and intangible changes. The study also discusses various methodologies for impact measurement, emphasizing the necessity of a methodological mix tailored to specific needs. It highlights the challenges in measuring social impact, such as stakeholder identification, attribution and contribution measurement, standardization issues, and resource limitations.