Principles of Social Value
The Principles of Social Value provide the basic building blocks for anyone who wants to make decisions that take a wider definition of value into account, in order to increase equality, improve wellbeing and increase environmental sustainability.
They are generally accepted social accounting principles and are important for accountability and optimising social value.
The Principles are not individually remarkable but when they are applied collectively, they have the power to dramatically improve how we make decisions to optimise impacts.
What are the Principles of Social Value?
Find about more about each of the Principles
Applying the Principles
By applying The Principles, it is possible to create a consistent and credible account for the value that is being created or destroyed. The outcomes, and the measures and values of outcomes, can remain specific to the context, activity, and the stakeholders involved.
The Principles help us to create an account that meets the needs of different audiences and purposes. So, although The Principles provide a consistent framework, they do not create a one-size-fits-all approach, and they can be effectively applied to meet the level of rigour required for each scenario from operational decision-making to large-scale investment decisions.
Adopting The Principles of Social Value will sometimes be challenging as they are designed to make invisible value visible. Value is often invisible because it relates to outcomes experienced by people who have little or no power in decision-making. Applying The Principles will help organisations become more accountable for what happens as a result of their work, and means being accountable for more than whether the organisation has achieved its objectives – but it also means identifying opportunities to increase the value of activities and create meaningful change in people’s lives.
Involve your stakeholders
The Principles of Social Value can be distinguished from other approaches by the need to actively involve those stakeholders affected by activities, so their experiences are respected and their voices influence decisions and support organisations to optimise their value.
Get started today
Come along to one of our upcoming events to speak to one of our team members, our practitioners or members of our global community. Ask questions, make connections and explore the perfect entry point into social value for you.
Stay up to date with developments in social value and impact management.
Sign up to newsletter to be the first to hear about sector news, events, training opportunities, community updates and much more.