There are some useful resources and tools on the Social Value UK site. The guide is based on the development of an alternative business planning model that includes social outcomes alongside purely financial considerations.
It is based on seven principles:
1. Involve stakeholders
Inform what gets measured and how this is measured and valued in an account of social value by involving stakeholders.
2. Understand what changes
Articulate how change is created and evaluate this through evidence gathered, recognising
positive and negative changes as well as those that are intended and unintended.
3. Value the outcomes that matter
Making decisions about allocating resources between different options needs to recognise the values of stakeholders. Value refers to the relative importance of different outcomes. It is informed by stakeholders’ preferences.
4. Only include what is material
Determine what information and evidence must be included in the accounts to give a true and
fair picture, such that stakeholders can draw reasonable conclusions about impact.
5. Do not over-claim
Only claim the value that activities are responsible for creating.
6. Be transparent
Demonstrate the basis on which the analysis may be considered accurate and honest, and
show that it will be reported to and discussed with stakeholders.
7. Verify the Result
Ensure appropriate independent assurance.