Measure, Manage and Maximise Your Impact
A Guide for the Social Economy
Social impact measurement and management is a particularly helpful practice for social economy entities to understand their contribution to society and potentially improve the achievement of their mission. Impact areas that are particularly important for the social economy, such as economic prosperity and employment, social inclusion and well-being and community, are often the hardest to translate into quantitative metrics. Current social impact measurement and management practices are largely shaped by funders and for-profits with limited focus on the social economy. This guide offers a simple, straightforward approach for social economy entities to measure, manage and ultimately maximise their impact, and to prioritise the use of findings for strategic organisational learning and improvement.
Collect and analyse data
Central to any impact measurement cycle is the data collection and analysis phase, which in the case of the social economy will typically follow a multi-stakeholder, participatory approach. The structuring step often starts during the design phase, while data collection may partially overlap with the ongoing analysis. Social economy entities can choose among a wide range of solutions, from mainstream ones that are shared with other private sector actors to tailored ones that have explicitly been developed for them. When selecting a specific solution for data collection and/or analysis, each social economy entity should carefully consider the data and skill needs required, besides the impact areas being covered.
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