This is the very start of the journey where Community Ventures will commence their work within a community of action. During this process Community Ventures will undertake a stakeholder mapping exercise to understand the direct, indirect and wider stakeholders that will be involved in the initial stages of community development. Representatives from each stakeholder group are invited to a ‘Prepare It’ event.
It is essential that all stakeholders within the community understand the Accounting for Social Value process. The Prepare It session will:
- Raise awareness of Social Value within the Community.
- Prepare stakeholders for the Accounting for Social Value Process.
- Provide a question and answers sessions relating to the Accounting for Social Value process.
Through a connected event which brings representatives of all stakeholder groups together, Community Ventures will facilitate the discussion of key issues within the community, identify the priorities for each stakeholder within community, develop and map the changes required within the community and develop a Social Value Pledge. A social Value Pledge sets out Key Value Indicators as benchmarks in which the Accounting for Social Value process will use to understand what has changed throughout the community development process.
Key Value Indicators should represent multi-agency issues relating to health and wellbeing, education, employment, environment, housing, crime and the local economy.
At this stage, Community Ventures are mapping stakeholder’s views against the Key Value Indicators chosen prior to the community development process, this indicates the start of the change journey.
This process happens at the end of Community Ventures involvement in community development and focuses on stakeholder engagement to undertake primary research (against the Key Value Indicators) to provide both quantitative and qualitative outcome and impact. The ‘Prove it’ process works with the existing stakeholder groups to map further stakeholders within the community, develop suitable methods of engagement, design relevant questions that can capture the Theory of Change (in theory what has changed as a result of MCM’s interventions within the community). In this stage Community Ventures will ask stakeholders:
- What has the stakeholder witnessed or experienced as part of Community Ventures community development process?
- What has changed in the stakeholder’s behaviour as a result of their involvement with Community Ventures?
- What are they doing differently as a result of this change?
- How often has this change been witnessed/experienced?
Calculate it, focuses on how to analyse and interpret the information gathered from the stakeholder engagement sessions and provide guidance of how the outcome, indicators and the impact turn into value for stakeholders.
MCM will use blended Social Accounting methods to calculate social value:
- Social Return on Investment: Measures the benefit to the state and the cost savings of proactive or reactive support, it provides a ration. i.e. for every £1 invested, there is £XX in social benefit.
- Local Multiplier Effect: Measures the benefit to the local economy.
- SAA: This tells the story of the non-tangible effect of the change process for individuals through case studies.
- Trust: This measures the effect of Trust on the impact of achieving social value.
Creating and developing innovative methods of communicating a Social Value Report is vital to develop a positive and equal relationship, developing new networks, supporting income generation, proving the worth of the community’s assets and helping the community to be proud of themselves.
A comprehensive report can exceed 50 pages including statistics, case studies, methodology and supporting documentation. In addition to the written report, Community Ventures will also use infographics, video clips, audio and visual recordings to ensure that key features of the report are easily accessible.
Prior to publication, the Social Value Report will be verified by HACT who then assess our completed Value Calculator to check we have applied the Social Value Bank correctly. If the criteria are met each social value account then will receive HACT Certification.