NARRATIVE NUMERACY: SOCIAL IMPACT ASSESSMENT

Size: px
Start display at page:

Download "NARRATIVE NUMERACY: SOCIAL IMPACT ASSESSMENT"

Transcription

1 NARRATIVE NUMERACY: SOCIAL IMPACT ASSESSMENT A BRIEF GUIDE TO SOCIAL RETURN ON INVESTMENT CONTEXTUALS NO. 10 CONTEXT, INTERNATIONAL COOPERATION UTRECHT, THE NETHERLANDS

2

3 NARRATIVE NUMERACY: SOCIAL IMPACT ASSESSMENT A BRIEF GUIDE TO SOCIAL RETURN ON INVESTMENT CONTEXT, INTERNATIONAL COOPERATION UTRECHT, THE NETHERLANDS

4 COLOFON Version 2.0 This is the second revised version of the SROI guide. The first edition was published in October Many persons have contributed to the production of this guide (for details see the Acknowledgement). The present version incorporates new insights and experiences gained since the publication of the first version. More than before this manual focuses on assessing impact and blended values created by social enterprises. This guidebook was made possible thanks to the support of ICS. ICS creates change through on the one hand promoting social entrepreneurship and on the other hand initiating programmes that are aimed at children and their families. (www.ics.nl) Text: Pol De Greve, Hotze Lont & Fons van der Velden Design en vormgeving: J Ontwerp, Nijmegen Editing: Titus van der Spek Printing: Twigt Grafimedia, Waddinxveen Publisher: Context, international cooperation, Utrecht, the Netherlands (www.contextinternationalcooperation.org) This practical guide is published and distributed in hardcopy as well as electronic format. It is published under a Creative Commons Attribution- Non Commercial-Share alike 3.0 License and may be copied freely for research and educational purposes and cited with due acknowledgement. September 2013 ISBN:

5 ACKNOWLEDGEMENT This guide is the product of intensive dialogue and cooperation with a number of individuals and organisations from different parts of the globe. In a way it is a product of co-creation. We acknowledge and are grateful for opportunities offered and for encouragement and support, directly or indirectly, received over the last few years from: Mr Simon Bailey (Aflatoun), Mr Jan Brouwers (CDI), Mr Karel Chambille (Hivos), Mr Peter Das (then of ICS, now at DCR), Mr Pradeep Esteves (Context India), Ms Sathyasree Goswami (Foresee Social Entrepreneurs Pvt Ltd, Bangalore, India), Mr Sharad Joshi (Cedoedecon, India), Mr E.M. Koshy (AOFG, India), Mr Peter Mbiyu (then ICS, Tanzania), Mr Lazaro Mongoi (OMASI Ltd, Tanzania), Mr Jay Mushoka (ICS), Ms Nerina Muzurovic (IFAD, Italy), Ms Ester Prins (then of Context, now at Solidaridad), Mr Malla Reddy (Accion Fratena), Ms Elaine Reinke (IFAD, Italy), Mr Menno Salverda, Mr L.P. Semwal (SJS, India), Mr Tom Vogel (Yummm! Concepts BV). We are grateful for all the contributions that have been made by the participants of the write shop held in Anantapur in India in November 2009 at the ecology campus of Accion Fraterna and the SROI practitioners workshop held in Nairobi in November At these events we took stock of practical experiences and ideas gained from SROI application is various settings and countries, which formed the basis for this second version of the guide. A special thanks goes to the organisations ICS (Amersfoort, the Netherlands), IFAD (Rome, Italy) and SHGW (Zeist, the Netherlands), who have been supporting us and collaborating with us over the last few years in our work surrounding SROI. We are not only thankful for their contribution to the realisation of this guide, but also for their support in enabling us to explore the possibilities of introducing SROI in the social business sector. We furthermore acknowledge the support of our colleagues Titus van der Spek (editing), Petra van Os (project management), Karine Godthelp and Marloes van Hooijdonk (research assistance). Thanks is certainly due to Mr Eric Roetman of ICS for his support and many valuable contributions in reshaping this guide. Last but not least sincere thanks goes to Hotze Lont (now with University of Amsterdam) who in his position with Context initiated work and produced a strong foundation for this second edition of the SROI guide. Pol De Greve & Fons van der Velden Context, international cooperation August 2013 Utrecht, the Netherlands

6

7 TABLE OF CONTENT Purpose of the guide 9 Preface: In search of a performance metric Introduction Measuring blended value The basic elements of Social Return on Investment What is Social Return on Investment? What use SROI brings for the social entrepreneur The nine steps of an SROI analysis Seven principles of SROI Hints before rolling out the SROI analysis Conducting SROI The nine steps 27 Step one: Scoping 28 Step two: Stakeholder Analysis 32 Step three: Theory of Change 35 Step four: Identifying Resources 40 Step five: Identifying outcomes 42 Step six: Valuation. 45 Step seven: Calculating the SROI ratio 48 Step eight: Verification 54 Step nine: Reporting - Narrative SROI as a management tool Integration of SROI in business process management Integration with Management Information Systems Selected Notes on Management Aspects 64 Epilogue 67 Annexes 68 Annex I: Glossary 68 Annex II: Social impact measurement 74 Annex III: Stakeholder Matrix 78 Annex IV: Examples of a Rich Picture and Problem Tree 80 Annex V: Example of a Theory of Change: Water Point in Sudan 83 Annex VI: Valuation Methods 85 Annex VII: SROI as input for Process Management 88 Annex VIII: References and further reading 89

8

9 LIST OF ABBREVIATIONS GDP IRR NGO NPV ROI SROI TOR Gross Domestic product Internal Rate Of Return Non-Governmental Organisation Net Present Value Return on Investment Social Return on Investment Term Of Reference 7

10

11 PURPOSE OF THE GUIDE This guide offers a brief introduction to the Social Return on Investment (SROI) methodology for impact assessment and the valuation of social-economic investments. The guide is written primarily for social investors and social entrepreneurs as well as others in profit and non-profit sectors who wish to explore ways of assessing the social, environmental as well as economic impacts of investments. After a brief introduction regarding the concept of value creation in chapter one, chapter 2 offers a bird s-eye view of the SROI approach; it provides a brief description of SROI, its merits, its basic principles and a list of 9 steps that constitute the SROI process. Subsequently in chapter 3 each of the 9 steps is covered separately with recurrent reference to practical cases. Finally in chapter 4, SROI is discussed in the broader managerial context as a business management tool, which goes beyond the functionality of cost-benefit appraisal. A number of Annexes have been provided to illustrate and/or capture in more detail the intricacies of the SROI approach for readers who want to venture beyond the basic ingredients of the SROI approach. Finally, a list of references is provided, which can help readers to further explore SROI and its application in different perspectives. The authors would also like to refer to the website for further reading, references and links to relevant sites. 9

12 PREFACE: IN SEARCH OF A PERFORMANCE METRIC The debate about how to measure change processes is not new. In economics there is something called Hicksian income after the British economist John Hicks ( ). It represented an early version of welfare economics in which the Hicksian income accrued only if the factors of production, land and labour in particular, were not degraded in the process. 1 In his putting the last first series Robert Chambers publishes in 1997 his book Whose reality counts? in which he argues that with regard to measurement of change processes, a new paradigm is needed, whereby realities of poor people and communities themselves are to receive greater recognition. In many countries, urban and rural people alike have shown an astonishing ability to express and analyse their local, complex and diverse realities which are often at odds with top down realities imposed by professionals. 2 In 2010 Nobel Prize laureates Joseph Stiglitz and Amartya Sen published the report Mis-measurement our lives; Why GDP doesn t add up. The report was written at the request of the then President of France, Mr Nicholas Sarkozy who states in the foreword of the publication We will not change our behavior unless we change the ways we measure our economic performance. Off late both in the development sector as well among social entrepreneurs and economists a debate has emerged not only about how to measure economic but equally so social and environmental changes as impact assessment needs to be improved both for operational and strategic reasons. Social Return on Investment (SROI) is an approach to planning, monitoring and measurement, incorporating social, environmental, financial and economic values into decision-making processes. This particular impact assessment methodology has the ability to bring values to the surface, which seem at first hand difficult to trace, by assigning monetary values to changes that occur as well as by embedding into a narrative that explains the story behind the change. Hence, by combining the numeric ratio with the narrative, SROI provides a framework that can be used for measuring and accounting the broader concept of value and places a value on those things that really matter. 1 James Scott, Two cheers for anarchism, Princeton: Princeton University Press, 2012, page Robert Chambers, Whose reality counts?; Putting the last first, London: Intermediate Technology Publications, 1997.

13 Context, international cooperation is a development organisation/social enterprise, based in Utrecht, the Netherlands. Its mission is to provide business development support to social investors, social entrepreneurs and development actors that want to transform into a social enterprise at both strategic and operational level. 3 In 2006, initial steps were taken by Context, international cooperation to explore the applicability of SROI, as an approach for social impact assessment in the context of social business development. Ever since, Context has gradually build up evidence/based experience and knowledge on impact assessment, and more specifically on SROI in Africa, Asia and the Netherlands. As a knowledge broker, Context decided to produce a practical guide regarding SROI in 2010 as a way to share its knowledge and experiences and to promote the use of this innovative approach by individuals, organisations and social businesses that contribute to social, economic and environmental change. As our experience with SROI grew and new insights and ideas developed, the need was felt to update the first guide. We therefore hope that this second version of the practical guide will contribute in a constructive and practical way to the theory and emerging practice of social impact investment assessment in general and SROI Return on Investment in particular. This practical guide has been created in a spirit of learning. The organisers and editors of this practical guide therefore appreciate your comments and suggestions for improvements. Feedback is welcome at: 3 For more information about Context, international cooperation visit 4 Jan Brouwers, Ester Prins & Menno Salverda, Social Return on Investment; A practical guide for development cooperation, Utrecht: Context, international cooperation,

14 121

15 INTRODUCTION MEASURING BLENDED VALUE

16

17 THIS GUIDE IS WRITTEN PARTICULARLY FOR USE BY SOCIAL ENTREPRENEURS AND IMPACT INVESTORS WHO ARE INTERESTED IN USING SOCIAL RETURN ON INVESTMENT (SROI) FOR IMPACT ASSESSMENT. Social entrepreneurs are searchers with a clear vision, a passion and a determination to create impact through social business. They combine risk taking with an innovative market-based business approach but one that is aimed at creating social change rather than serving the financial interests of shareholders only. Social entrepreneurs speak business but think social at the same time. Similarly social investors are driven by a strong vision to invest in businesses that create this so-called blended value : they produce not only economic value-addition and financial profits, but equally so social change and environmental benefit. Social investors accept that their capital may yield lower and slower financial returns on investment but they do accept and value other returns as well, notably in terms of social change. In other words, capital investment in a social business is (at least partly) provided by a social investor, who is satisfied with a lower dividend and a longer repayment period, but who instead receives a verifiable social and/or environmental return. The use of SROI is particularly relevant for social business investments in situations of poverty, marginalisation, violation of human rights. It does so as it combines financial, social and environmental resource use and the value creation that results from the investment. Nonetheless SROI as an approach is equally applicable for conventional profit and non-profit investments. The issues of value creation and impact assessment are further discussed in some more detail in Annex II. 15

18 162

19 THE BASIC ELEMENTS OF SOCIAL RETURN ON INVESTMENT

20 2.1 WHAT IS SOCIAL RETURN ON INVESTMENT? Social Return on Investment (SROI) is an impact assessment approach that incorporates social, environmental, financial and economic values in management of and decision making on (social) business investments. The method assigns monetary values to results, also to the non-tangible non-financial results. By monetising these factors, blended values that are created through an investment can be captured and expressed in a numeric equivalent (known as an SROI ratio) to the common financial return on investment. SROI ANALYSES THE CHANGES THAT STAKEHOLDERS EXPERIENCE AS A RESULT OF AN INVESTMENT. IN GENERAL TERMS, INVESTMENT MEANS THE USE OF CAPITAL IN THE EXPECTATION OF CREATING FUTURE BENEFITS. THESE BENEFITS CAN BE OF A FINANCIAL AS WELL AS NON-FINANCIAL NATURE, THEY MAY INCLUDE MATERIAL AS WELL AS INTANGIBLE BENEFITS. In the corporate sector, a capital investment typically comprises the establishment, refurbishment or extension of a social enterprise or a value chain (or components thereof). A business investment or capital investment usually involves the use of monetary and other resources for the construction or acquisition of capital items that produce value added (benefits) over longer periods, e.g. acquisition of new processing equipment for a honey factory, construction of a long term controlled storage for a apple project, a process for obtaining ISO certification for a service company, setting up a breeding unit to introduce more productive cross-bred calves in a traditional cattle herd, etc. Increasingly SROI has become a widely applied instrument for assessing returns on investments in non-profit and social sectors, like the health service and education sectors. Other areas where SROI is being applied include natural resources management (e.g. water points), nature conservations, public-private service provision (e.g. public transport), child and youth programmes, and many others. 18

Social Return on Investment; A brief introduction

Social Return on Investment; A brief introduction Social Return on Investment; A brief introduction November, 2012 Context, international cooperation Utrecht, Netherlands Cornelis Houtmanstraat 15, 3572 LT Utrecht, the Netherlands, phone: + 31 (0) 30-2737500

More information

Context, international cooperation, Utrecht. October, 2010 (first version) ISBN: 978-90-77526-06-4

Context, international cooperation, Utrecht. October, 2010 (first version) ISBN: 978-90-77526-06-4 Version 1.0 This is the first version of this guide. Many stakeholders have participated in the creation of this guide. In anticipation of new developments and new experiences, this guide will be prone

More information

The Beginners Guide To Social Return On Investment. Learn more about SROI and how you can measure your impact

The Beginners Guide To Social Return On Investment. Learn more about SROI and how you can measure your impact The Beginners Guide To Social Return On Investment Learn more about SROI and how you can measure your impact Marlon van Dijk - Managing Director We all make choices in our life, whether as an individual

More information

London School of Commerce. Programme Specification for the. Cardiff Metropolitan University. Bachelor of Arts (Hons) in Business Studies

London School of Commerce. Programme Specification for the. Cardiff Metropolitan University. Bachelor of Arts (Hons) in Business Studies London School of Commerce Programme Specification for the Cardiff Metropolitan University Bachelor of Arts (Hons) in Business Studies 1 Contents Page 1. Aims and Objectives 3 2. Programme Learning Outcomes

More information

A Three Year Investigation into the Triple Bottom Line Performance of Small and Micro Social and Environmental Enterprises in Developing Countries

A Three Year Investigation into the Triple Bottom Line Performance of Small and Micro Social and Environmental Enterprises in Developing Countries A Three Year Investigation into the Triple Bottom Line Performance of Small and Micro Social and Environmental Enterprises in Developing Countries Synopsis Prepared for the SEED Initiative by: Heather

More information

Practical, Engaging Financial Training for Non-Financial People

Practical, Engaging Financial Training for Non-Financial People www.financetalking.com info@financetalking.com +44 (0)1572 717000 Practical, Engaging Financial Training for Non-Financial People Learn to speak the language of the board room Financial Training for Non-Financial

More information

A BRIEF TUTORIAL ON BUSINESS PLANNING FOR NONPROFIT ENTERPRISE by Cynthia W. Massarsky

A BRIEF TUTORIAL ON BUSINESS PLANNING FOR NONPROFIT ENTERPRISE by Cynthia W. Massarsky A BRIEF TUTORIAL ON BUSINESS PLANNING FOR NONPROFIT ENTERPRISE by Cynthia W. Massarsky Compared to the private sector, nonprofits rarely do enough research and business planning before beginning a new

More information

Gender Responsive Technology for Poverty Alleviation in Thailand

Gender Responsive Technology for Poverty Alleviation in Thailand Gender Responsive Technology for Poverty Alleviation in Thailand Food and Agriculture Organization of the United Nations (FAO) Regional Office for Asia and the Pacific, Bangkok United Nations Development

More information

Disclosure of Venture Capital Portfolios BVCA. Representing British Venture Capital and Private Equity

Disclosure of Venture Capital Portfolios BVCA. Representing British Venture Capital and Private Equity Guidelines Entrepreneurs for the Valuation Summit and Disclosure of Venture Capital Portfolios BVCA Representing British Venture Capital and Private Equity Contents 2 Preface Background 3 Reasons for valuation

More information

There are business opportunities in abundance

There are business opportunities in abundance Master MBA Business of in Emerging Administration Markets Specialisation There are business opportunities in abundance throughout the emerging markets of the world; however the unique challenges that accompany

More information

The entrepreneurial role in the market economy

The entrepreneurial role in the market economy MBA Entrepreneurship Specialisation The entrepreneurial role in the market economy is a major influence behind spirited economic activity in all corners of the globe. Our MBA with a Specialisation Track

More information

THE HIGHER DIPLOMA IN SMALL BUSINESS MANAGEMENT

THE HIGHER DIPLOMA IN SMALL BUSINESS MANAGEMENT THE HIGHER DIPLOMA IN SMALL BUSINESS MANAGEMENT (HDSBM) HRM 318 Entrepreneurial Studies and Leadership NQF Level 7 Credits 20 Distinguish the various entrepreneurial opportunities and contributions to

More information

ELCT- NORTHERN DIOCESS

ELCT- NORTHERN DIOCESS ELCT- NORTHERN DIOCESS WOMEN-LED TREE NURSERY PROJECT TRAINING ON ENTREPRENEURSHIP EVANGELICAL LUTHERAN CHURCH OF TANZANIA Northern Diocese By Godson Ulomi gaulomi73@gmail.com 0784957530 1 ENTREPRENEURSHIP

More information

BS0822 ACCOUNTING FOR ELECTRICAL ENGINEERING & ISE

BS0822 ACCOUNTING FOR ELECTRICAL ENGINEERING & ISE BS0822 ACCOUNTING FOR ELECTRICAL ENGINEERING & ISE COURSE TUTOR Name: Room: E-mail: Libon Fung 177 - Imperial College Business School libon.fung@imperial.ac.uk COURSE OUTLINE Aims The course aims to contribute

More information

Resource efficiency. United Nations Environment Programme

Resource efficiency. United Nations Environment Programme Resource efficiency United Nations Environment Programme An overview Economic growth and social development cannot be sustained with our current consumption and production patterns. Globally, we are extracting

More information

Social Return on Investment

Social Return on Investment Social Return on Investment for Microenterprise Development A Presentation at the AEO Conference, Portland, May 2005 Elaine Edgcomb The Aspen Institute/FIELD Julie Abrams Women s Initiative for Self Employment

More information

CORPORATE SOCIAL RESPONSIBILITY (CSR) STRATEGY THE TATA POWER SOLAR SYSTEMS LTD

CORPORATE SOCIAL RESPONSIBILITY (CSR) STRATEGY THE TATA POWER SOLAR SYSTEMS LTD CORPORATE SOCIAL RESPONSIBILITY (CSR) STRATEGY THE TATA POWER SOLAR SYSTEMS LTD Page 1 Sustainability Strategy: Index 1.0 Guiding Philosophy to CSR 2.0 CSR Vision 3.0 CSR Mission 4.0 Strategic Approach

More information

The system of national accounts changes

The system of national accounts changes 22 May 2014 The system of national accounts changes In 2014 important changes will be introduced in the European System of National Accounts (Esa), the framework which sets out the standard methods for

More information

PROGRESS NOTE. Social Return on Investment and Its Relevance to Microfinance SROI FRAMEWORK. The Small Enterprise Education and Promotion Network

PROGRESS NOTE. Social Return on Investment and Its Relevance to Microfinance SROI FRAMEWORK. The Small Enterprise Education and Promotion Network PROGRESS NOTE No. 12 October 2005 Social Return on Investment and Its Relevance to Microfinance Didier Thys Drew Tulchin, Social Enterprise Associates Chandni Ohri, Grameen Foundation USA A Joint Publication

More information

SKILLS AND ENTREPRENEURSHIP

SKILLS AND ENTREPRENEURSHIP PARTNERS FOR CHANGE SKILLS AND ENTREPRENEURSHIP SUB-SAHARAN AFRICA PARTNERS FOR CHANGE SKILLS AND ENTREPRENEURSHIP PARTNERS FOR CHANGE The British Council works with governments, businesses, training and

More information

The 10-day Finance and Accounting MBA Training. Europe - North America - Middle East - Asia - Africa

The 10-day Finance and Accounting MBA Training. Europe - North America - Middle East - Asia - Africa The 10-day Finance and Accounting MBA Training Europe - North America - Middle East - Asia - Africa Introduction The Finance and Accoun ng MBA is an intensive 10-day programme designed to sharpen your

More information

STRATEGIC POLICY FORUM ON DIGITAL ENTREPRENEURSHIP. Fuelling Digital Entrepreneurship in Europe. Background paper

STRATEGIC POLICY FORUM ON DIGITAL ENTREPRENEURSHIP. Fuelling Digital Entrepreneurship in Europe. Background paper EUROPEAN COMMISSION ENTERPRISE AND INDUSTRY DIRECTORATE-GENERAL Service Industries Key Enabling Technologies and Digital Economy Introduction STRATEGIC POLICY FORUM ON DIGITAL ENTREPRENEURSHIP Fuelling

More information

THE HIGHER DIPLOMA IN BUSINESS ADMINISTRATION (HDBA)

THE HIGHER DIPLOMA IN BUSINESS ADMINISTRATION (HDBA) THE HIGHER DIPLOMA IN BUSINESS ADMINISTRATION (HDBA) MKM - 3147 Entrepreneurial Studies and Leadership: NQF Level 7 Credits 20 Distinguish the various entrepreneurial opportunities and contributions to

More information

Social Return on Investment (SROI)

Social Return on Investment (SROI) Social Return on Investment (SROI) Measuring your wider impact helps you understand and promote your real value. nef consulting realises the consultancy potential of nef s (new economics foundation) twenty-year

More information

Strategic Plan for The Broker 2012-2015. Connect and deepen. www.thebrokeronline.eu

Strategic Plan for The Broker 2012-2015. Connect and deepen. www.thebrokeronline.eu Strategic Plan for The Broker 2012-2015 Connect and deepen Strategic Plan for The Broker 2012-2013 page 2 of 6 Strategic Plan for The Broker 2012-2015 Connect and deepen I Introduction This document elaborates

More information

5 STEPS TO ISO 14001:2015

5 STEPS TO ISO 14001:2015 CONTENTS 5 STEPS TO ISO 14001:2015 3 GETTING STARTED 7 NEXT STEPS 13 Ramboll Environ 5 STEPS TO ISO 14001:2015 Summary New version of ISO 14001 now available Ramboll Environ has produced this five step

More information

Scheme of Work Units 1 and 2: Setting up a Business and Growing as a Business an Integrated Approach

Scheme of Work Units 1 and 2: Setting up a Business and Growing as a Business an Integrated Approach GCSE Business Studies Scheme of Work Units 1 and 2: Setting up a Business and Growing as a Business an Integrated Approach Copyright 2012 AQA and its licensors. All rights reserved. The Assessment and

More information

PROFITABILITY ANALYSIS IN SELECT CEMENT COMPANIES -A DU PONT APPROACH

PROFITABILITY ANALYSIS IN SELECT CEMENT COMPANIES -A DU PONT APPROACH PROFITABILITY ANALYSIS IN SELECT CEMENT COMPANIES -A DU PONT APPROACH Dr. K. Bhagyalakshmi 1, Dr. P. Krishnama Chary 2 1 Lecturer, Dept. of Commerce and Business Management, University College for Women,

More information

THE TRIPLE BOTTOM LINE FOR MICROFINANCE

THE TRIPLE BOTTOM LINE FOR MICROFINANCE THE TRIPLE BOTTOM LINE FOR MICROFINANCE Triodos Facet Geert Jan Schuite and Alberic Pater (gj.schuite@triodosfacet.nl) (a.pater@triodosfacet.nl) INTRODUCTION The past decade, we have witnessed an unprecedented

More information

ENTREPRENEURSHIP DEVELOPMENT WORKSHOP OUTLINE

ENTREPRENEURSHIP DEVELOPMENT WORKSHOP OUTLINE PBL PINNACLE BUSINESS LINK LTD. ENTREPRENEURSHIP DEVELOPMENT WORKSHOP OUTLINE SUBMITTED TO: CONSULTANT: (CLIENT S NAME) PINNACLE BUSINESS LINK LTD (PBL). P.O. Box OS 2655, Accra. Ghana. TEL: + 233 21 249657,

More information

Q&A Oxfam and Impact Investments. Audience: Entrepreneurs Investors Oxfam + partners General audience (including press) General

Q&A Oxfam and Impact Investments. Audience: Entrepreneurs Investors Oxfam + partners General audience (including press) General Q&A Oxfam and Impact Investments Audience: Entrepreneurs Investors Oxfam + partners General audience (including press) General Q: Why is Oxfam active in impact investing? A: Oxfam believes the upcoming

More information

Governing Body 310th Session, Geneva, March 2011 TC FOR DECISION

Governing Body 310th Session, Geneva, March 2011 TC FOR DECISION INTERNATIONAL LABOUR OFFICE Governing Body 310th Session, Geneva, March 2011 Committee on Technical Cooperation GB.310/TC/1 TC FOR DECISION FIRST ITEM ON THE AGENDA Operational strategies for capacity

More information

ROLE OF INNOVATIONS AND KNOWLEDGE - INFRASTRUCTURE AND INSTITUTIONS

ROLE OF INNOVATIONS AND KNOWLEDGE - INFRASTRUCTURE AND INSTITUTIONS ROLE OF INNOVATIONS AND KNOWLEDGE - INFRASTRUCTURE AND INSTITUTIONS ANDRAS NABRADI University Debrecen, Hungary, E-mail: nabradi@agr.unideb.hu Paper prepared for presentation at the 113 th EAAE Seminar

More information

Measuring social impact: the foundation of social return on investment (SROI)

Measuring social impact: the foundation of social return on investment (SROI) Measuring social impact: the foundation of social return on investment (SROI) Chapter One Introduction and Purpose Many organisations have social, environmental and economic impacts that have an effect

More information

AFIC S RESPONSE TO THE REPORT OF THE ALTERNATIVE INVESTMENT EXPERT GROUP RELATING TO EUROPEAN PRIVATE EQUITY

AFIC S RESPONSE TO THE REPORT OF THE ALTERNATIVE INVESTMENT EXPERT GROUP RELATING TO EUROPEAN PRIVATE EQUITY AFIC S RESPONSE TO THE REPORT OF THE ALTERNATIVE INVESTMENT EXPERT GROUP RELATING TO EUROPEAN PRIVATE EQUITY The French Private Equity Association, the Association Française des Investisseurs en Capital

More information

DEPARTMENT OF MANAGEMENT STUDIES MBA Master of Business Administration

DEPARTMENT OF MANAGEMENT STUDIES MBA Master of Business Administration DEPARTMENT OF MANAGEMENT STUDIES MBA Master of Business Administration Course No Course Title L T E P O TH C MS 5003 Basics of Probability and Statistics 2 0 0 0 4 6 3 MS 5004 Basics of Accounting and

More information

Follow the food: Dutch agribusiness and local food security in Ethiopia, Kenya and Ghana

Follow the food: Dutch agribusiness and local food security in Ethiopia, Kenya and Ghana Follow the food: Dutch agribusiness and local food security in Ethiopia, Kenya and Ghana Urban food market in Accra, Ghana (December 19, 2015) Notes kick-off workshops multi-stakeholder meetings Ethiopia,

More information

Contents. Part I: The Global Financial Environment 1

Contents. Part I: The Global Financial Environment 1 Contents List of Figures List of Tables Preface and Acknowledgments About the Authors xii xv xviii xxvii Part I: The Global Financial Environment 1 Chapter 1: Introduction 3 Opening Case 1: TIAA-CREF Goes

More information

AIE delivers award and non-award programs for students in business, human resource management and entrepreneurship

AIE delivers award and non-award programs for students in business, human resource management and entrepreneurship Australian Institute of Entrepreneurship (AIE) The Australian Institute of Entrepreneurship (AIE), in Melbourne, is a registered Vocational Education and Training Enterprise since 2007.AIE is also a Commonwealth

More information

Entrepreneurship is a vital source of change in all facets of society, empowering

Entrepreneurship is a vital source of change in all facets of society, empowering PREFACE Entrepreneurship is a vital source of change in all facets of society, empowering individuals to seek opportunities where others see insurmountable problems. For the past century, entrepreneurs

More information

Programme Curriculum for Master Programme in Finance

Programme Curriculum for Master Programme in Finance Programme Curriculum for Master Programme in Finance 1. Identification Name of programme Scope of programme Level Programme code Master Programme in Finance 60 ECTS Master level Decision details Board

More information

Towards an Entrepreneurship Policy A Nordic Perspective

Towards an Entrepreneurship Policy A Nordic Perspective Towards an Entrepreneurship Policy A Nordic Perspective Anders Lundström (editor) FSF 2003:2 ISBN 91-89301-15-3 List of authors Denmark Frank Skov Kristensen is senior consultant at the Danish Technological

More information

South African Institute for Entrepreneurship DEVELOPING ENTREPRENEURSHIP CULTURE IN SOUTH AFRICA

South African Institute for Entrepreneurship DEVELOPING ENTREPRENEURSHIP CULTURE IN SOUTH AFRICA South African Institute for Entrepreneurship Shifting paradigms developing entrepreneurs through action learning DEVELOPING ENTREPRENEURSHIP CULTURE IN SOUTH AFRICA Areas covered South African Socio Economic

More information

Cape Town, South Africa 16-18 September, 2015

Cape Town, South Africa 16-18 September, 2015 The E3 Network Essex Business School, University of Essex, UK and The School of Business and Finance, University of the Western Cape, Cape Town, South Africa 14th International Entrepreneurship Forum (14

More information

All available Global Online MBA routes have a set of core modules required to be completed in order to achieve an MBA.

All available Global Online MBA routes have a set of core modules required to be completed in order to achieve an MBA. All available Global Online MBA routes have a set of core modules required to be completed in order to achieve an MBA. Those modules are: Building High Performance Organisations Management and Organisational

More information

MBA students develop, or already possess,

MBA students develop, or already possess, Master MBA Leadership of Business Specialisation Administration MBA students develop, or already possess, strong management skills; however the practice of effective leadership is essential for dedicated

More information

Professional Global Entrepreneurship Development Program for Schools (Building Confidence)

Professional Global Entrepreneurship Development Program for Schools (Building Confidence) Professional Global Entrepreneurship Development Program for Schools (Building Confidence) (Non-award Program) Australian Institute of Entrepreneurship (AIE) The Australian Institute of Entrepreneurship

More information

ACCOUNTING FOR NON-ACCOUNTANTS

ACCOUNTING FOR NON-ACCOUNTANTS Deutsch and Chikarovski's ACCOUNTING FOR NON-ACCOUNTANTS A Question and Answer Handbook Robert Deutsch and Kris Chikarovski THE FEDERATION PRESS 2012 Preface - x Who is this book for? x What is in this

More information

What influences managers ability to record and report on non-financial capitals? The case of Social Return on Investment

What influences managers ability to record and report on non-financial capitals? The case of Social Return on Investment What influences managers ability to record and report on non-financial capitals? The case of Social Return on Investment Matthew Hall, Yuval Millo and Emily Barman BUSINESS WITH CONFIDENCE icaew.com Introduction

More information

Human Development Index (HDI) and the Role of Women in Development. Eric C. Neubauer, Ph.D. Professor, Social Sciences Department

Human Development Index (HDI) and the Role of Women in Development. Eric C. Neubauer, Ph.D. Professor, Social Sciences Department Human Development Index (HDI) and the Role of Women in Development Eric C. Neubauer, Ph.D. Professor, Social Sciences Department What is Development? Historically, associated with economic development

More information

Corporate programmes for employers. Corporate Training & Professional Development. University of Hertfordshire Business School

Corporate programmes for employers. Corporate Training & Professional Development. University of Hertfordshire Business School Corporate Training & Professional Development Corporate programmes for employers University of Hertfordshire Business School Plug into your true potential Contents Turning potential into performance 3

More information

The MSc in International Accounting & Finance offers. MSc in International Accounting and Finance. Programme outline.

The MSc in International Accounting & Finance offers. MSc in International Accounting and Finance. Programme outline. MSc in International Accounting and Finance General Track: MSc in International Accounting and Finance Specialisation tracks: International Financial Reporting Strategic Finance Practice Emerging Markets

More information

Practical, Engaging Financial Training for Non-Financial People

Practical, Engaging Financial Training for Non-Financial People info@financetalking.com +44 (0)1572 717000 Practical, Engaging Financial Training for Non-Financial People Learn to speak the language of the board room FinanceTalking s elearning Tailored in-company training

More information

MBA. Sustainable Ocean Resources (SOR)

MBA. Sustainable Ocean Resources (SOR) MBA Sustainable Ocean Resources (SOR) The Rhodes MBA Sustainable Ocean Resources (SOR) is a course-work degree, closely aligned with our general management MBA (which already focusses on leadership and

More information

Social Enterprise Toolkit: Developing a Trading Subsidiary

Social Enterprise Toolkit: Developing a Trading Subsidiary Social Enterprise Toolkit: Developing a Trading Subsidiary Introduction This toolkit is designed to complement the Growing A For Profit Venture Establishing a Trading Subsidiary workshop delivered by Maeve

More information

Westpac DNA VISION STRATEGY HOW? OUTCOMES To be a great Australian company Customer focus Differentiator: Superior execution Core Group objectives 200

Westpac DNA VISION STRATEGY HOW? OUTCOMES To be a great Australian company Customer focus Differentiator: Superior execution Core Group objectives 200 Corporate responsibility and our business Our priority has been to fully integrate corporate responsibility, including best practice governance, into our business model. Adopting a total responsibility

More information

MP4 WP4.1 Retroactive evaluation of on-the-ground benefits

MP4 WP4.1 Retroactive evaluation of on-the-ground benefits MP4 WP4.1 Retroactive evaluation of on-the-ground benefits Evaluation report: Gamlestaden in Gothenborg, Sweden Academics University of Copenhagen Copenhagen, Denmark Practitioner City of Gothenburg Gothenburg,

More information

Mr. Kofi Adomakoh. Director, Project Finance & Export Development African Export-Import Bank (Afreximbank)

Mr. Kofi Adomakoh. Director, Project Finance & Export Development African Export-Import Bank (Afreximbank) Financing Africa s Cocoa Industry: Introducing Afreximbank s Africa Cocoa Initiative Mr. Kofi Adomakoh Director, Project Finance & Export Development African Export-Import Bank (Afreximbank) Presentation

More information

Business Management. Master s Program Campus Querétaro. Discover this new program for graduate students

Business Management. Master s Program Campus Querétaro. Discover this new program for graduate students Business Management Master s Program Campus Querétaro The Tec de Monterrey is a private university institution, which states that part of their mission is to, widely be recognized as an educational institution

More information

Social Return on Investment

Social Return on Investment Social Return on Investment Case study - London Borough September 2014 Overview The Social Value Act is transforming public sector procurement. Business needs to embrace this opportunity and use it to

More information

Corporate Social Responsibility Policy

Corporate Social Responsibility Policy Corporate Social Responsibility Policy SONATA SOFTWARE LIMITED APS Trust Building, 1/4 Bull Temple Road N R Colony, Bangalore 560 019 INTRODUCTION 1. Preamble: The Company believes that organizations,

More information

Executive Summary: Digital Entrepreneurship in Kenya 2014

Executive Summary: Digital Entrepreneurship in Kenya 2014 Executive Summary: Digital Entrepreneurship in Kenya 2014 GSMA Mobile for Development GSMA Intelligence The GSMA represents the interests of mobile operators worldwide. Spanning more than 220 countries,

More information

In 2012, GNP in constant prices increased by 1.8% compared with 2011.

In 2012, GNP in constant prices increased by 1.8% compared with 2011. 8 Economy In 2012, GNP in constant prices increased by 1.8% compared with 2011. The building and construction sector fell by 7.7% in value added terms in 2012 compared to 2011. Manufacturing industry decreased

More information

Subject: Business Studies. www.bized.co.uk www.theguardian.com/uk/business

Subject: Business Studies. www.bized.co.uk www.theguardian.com/uk/business www.bized.co.uk www.theguardian.com/uk/business Autumn Term Spring Term Summer Term understand customer How can new businesses sport a gap in the market? How can business add value to their products or

More information

SUPPORTING BUSINESS AS A FORCE FOR GOOD

SUPPORTING BUSINESS AS A FORCE FOR GOOD REAL WORLD. REAL LEARNING IMD SOCIAL RESPONSIBILITY SCHOLARSHIP SUPPORTING BUSINESS AS A FORCE FOR GOOD In offering such a scholarship, IMD is being exemplary. IMD doesn t just preach about making a difference

More information

Joint conclusions of the Spanish Presidency EU Youth Conference youth employment and social inclusion, Jerez, Spain 13-15 April 2010

Joint conclusions of the Spanish Presidency EU Youth Conference youth employment and social inclusion, Jerez, Spain 13-15 April 2010 Joint conclusions of the Spanish Presidency EU Youth Conference youth employment and social inclusion, Jerez, Spain 13-15 April 2010 Youth Employment is the common theme of the three EU Youth Conferences

More information

Far-western University Faculty of Management

Far-western University Faculty of Management Far-western University Faculty of Management Course: Fundamentals of Financial Management Full marks: 100 Course No. Mgt FIN 2001 Pass marks: 45 Nature of the course: Theory Total periods: 120 Year: Second

More information

Acerinox Press Release 2014 First Half Results. Page 0 / 10

Acerinox Press Release 2014 First Half Results. Page 0 / 10 Page 0 / 10 2014 First Half Results Acerinox's profit after taxes and minorities for the first half of 2014 is Euros 76.1 million, representing a rise of 373% on the same period in the prior year The Group's

More information

ANDE and the SGB Sector

ANDE and the SGB Sector ANDE and the SGB Sector Introductory Presentation ANDE Latin American Conference March 24, 2010 1 Overview Introduction State of the SGB Sector ANDE s Role in the Sector Copyright - ANDE 2010 2 2 Some

More information

Press Release from Securitas AB. Securitas to list three new specialized security companies on the Stockholm Stock Exchange

Press Release from Securitas AB. Securitas to list three new specialized security companies on the Stockholm Stock Exchange Press Release from Securitas AB The Board of Securitas AB proposes: February 9, 2006 Securitas to list three new specialized security companies on the Stockholm Stock Exchange Securitas AB, a world leader

More information

Institute of Chartered Accountants Ghana (ICAG) Paper 2.2 Management Accounting

Institute of Chartered Accountants Ghana (ICAG) Paper 2.2 Management Accounting Institute of Chartered Accountants Ghana (ICAG) Paper. Management Accounting Final Mock Exam Marking scheme and suggested solutions DO NOT TURN THIS PAGE UNTIL YOU HAVE COMPLETED THE MOCK EXAM ii Management

More information

Manual for Responsibility Centres

Manual for Responsibility Centres Manual for Responsibility Centres Transfer Pricing Associates Technical information TPA Technical Manual for Responsibility Centres 2 Introduction In accordance with the relevant transfer pricing guidelines,

More information

Global MBA. Course Descriptions FIRST PERIOD BLENDED

Global MBA. Course Descriptions FIRST PERIOD BLENDED Global MBA BLENDED Course Descriptions Pre-program: FINANCIAL ACCOUNTING The main objective of the pre-program in financial accounting is to provide students with a foundation in basic accounting concepts.

More information

Advocacy Guide: Social Entrepreneurship Education. By Educate!

Advocacy Guide: Social Entrepreneurship Education. By Educate! Advocacy Guide: Social Entrepreneurship Education By Educate! Introduction This advocacy guide was written to help organizations and individuals across the world advocate for the incorporation of social

More information

Graduate Business Programs SDSU College of Business Administration. MBA Program of Study Worksheet. Finance Specialization

Graduate Business Programs SDSU College of Business Administration. MBA Program of Study Worksheet. Finance Specialization Graduate Business Programs SDSU College of Business Administration MBA Program of Study Worksheet Finance Specialization Program of Study Worksheet: MBA Finance Specialization The MBA requires a 30 48

More information

Portfolio Carbon Initiative

Portfolio Carbon Initiative Portfolio Carbon Initiative Acting as market makers, capital providers, and advisers, financial institutions (FIs) are important actors in the shift to a low-carbon economy. As providers of debt and equity,

More information

All available Global Online MBA routes have a set of core modules required to be completed in order to achieve an MBA. Those modules are:

All available Global Online MBA routes have a set of core modules required to be completed in order to achieve an MBA. Those modules are: All available Global Online MBA routes have a set of core modules required to be completed in order to achieve an MBA. Those modules are: Management and Organizational Change (P.4) Leading Strategic Decision

More information

Financial Accounting Business Management (B2)

Financial Accounting Business Management (B2) Financial Accounting Business Management (B2) My name is Marco Mongiello and I am your tutor for Accounting. My aim is to make your learning experience effective and enjoyable, i.e. I will make every effort

More information

CRM Adoption Framework and Its Success Measurement

CRM Adoption Framework and Its Success Measurement CRM Adoption Framework and Its Success Measurement Leo Willyanto Santoso Faculty of Industrial Technology, Petra Christian University Jl. Siwalankerto 121-131, Surabaya 60236 Tel. 031-2983455, Fax. 031-8417658,

More information

Session 3B. Public Private Partnerships in the Culture Sector

Session 3B. Public Private Partnerships in the Culture Sector Session 3B Public Private Partnerships in the Culture Sector The cultural sector offers a great and unexplored potential for partnerships. Partnerships in the area of culture can bridge the funding gap

More information

From Brand Management to Global Business Management in Market-Driven Companies *

From Brand Management to Global Business Management in Market-Driven Companies * From Brand Management to Global Business Management in Market-Driven Companies * Emilio Zito ** Abstract Over the past several years, the most competitive mass-market companies (automobile, high-tech,

More information

The Value of Knowledge

The Value of Knowledge www.pwcacademy.rs The Value of Knowledge PwC Mini MBA Programme Programme Description Content 3 The Value of Knowledge 4 Duration Topics 5 Session 1 - Business Breakdown & Map 6 Session 2 - Corporate &

More information

NAS 09 NEPAL ACCOUNTING STANDARDS ON INCOME TAXES

NAS 09 NEPAL ACCOUNTING STANDARDS ON INCOME TAXES NAS 09 NEPAL ACCOUNTING STANDARDS ON INCOME TAXES CONTENTS Paragraphs OBJECTIVE SCOPE 1-4 DEFINITIONS 5-11 Tax Base 7-11 RECOGNITION OF CURRENT TAX LIABILITIES AND CURRENT TAX ASSETS 12-14 RECOGNITION

More information

THE ROUTE TO DEMONSTRABLE COMPETENCE

THE ROUTE TO DEMONSTRABLE COMPETENCE WINSACADEMY The WINS Academy Security Certification Programme THE ROUTE TO DEMONSTRABLE COMPETENCE Acquire the training you need to become a certified nuclear security professional FOR COURSE PARTICIPANTS

More information

FURTHER PROFIT GROWTH IN FIRST-HALF 2015

FURTHER PROFIT GROWTH IN FIRST-HALF 2015 FURTHER PROFIT GROWTH IN FIRST-HALF 2015 Net sales of 37.7bn, up +5.2% (+2.9% on an organic basis) Growth in Recurring Operating Income: 726m, +2.6% at constant rates Strong growth in adjusted net income,

More information

SWAZILAND ROYAL INSURANCE CORPORATION

SWAZILAND ROYAL INSURANCE CORPORATION SWAZILAND ROYAL INSURANCE CORPORATION Financial Highlights for the Year Ended 31 December 2010 Short-Term Insurance Business Movements Gross Written Premium (GWP) 1.11% Investment Income short-term funds

More information

Using the logical framework matrix

Using the logical framework matrix Using the logical framework matrix Defining the M&E Strategy for a programme/project A logical framework Clearly defined results and risks Performance indicators and means of verification An M&E plan for

More information

Airbus Group Achieves Record Revenues, EBIT* And Order Backlog In 2014

Airbus Group Achieves Record Revenues, EBIT* And Order Backlog In 2014 Airbus Group Achieves Record Revenues, EBIT* And Order Backlog In Revenues increase five percent to 60.7 billion Reported EBIT* up 54 percent to 4.0 billion with a 6.7% return on sales Earnings per share

More information

100 % online postgraduate degree programmes

100 % online postgraduate degree programmes 100 % online postgraduate degree programmes Inspiring you to discover what s next Contents Welcome to the University of Roehampton, London Online 4 Rich heritage 5 Successful partnership 6 Accreditation

More information

The Best Available Charitable Option

The Best Available Charitable Option Acumen Fund Concepts The Best Available Charitable Option Acumen Fund Metrics Team January 2007 Measuring Social Returns Social venture investing, 1 almost by definition, believes that there have to be

More information

Strategic priorities. Inspire and engage our people. Enhance client centricity. Improve profitability. Pursue selective international growth

Strategic priorities. Inspire and engage our people. Enhance client centricity. Improve profitability. Pursue selective international growth Improve profitability Enhance client centricity Pursue selective international growth Strategic priorities Strongly committed to a moderate risk profile Invest in our future Inspire and engage our people

More information

Below are the module descriptions for all modules currently taught on our BA (Hons) Accounting and Finance course.

Below are the module descriptions for all modules currently taught on our BA (Hons) Accounting and Finance course. BA (Hons) Accounting and Finance module descriptions Below are the module descriptions for all modules currently taught on our BA (Hons) Accounting and Finance course. Year One Core Modules Economics for

More information

CATÓLICA PORTO ECONOMICS AND MANAGEMENT. Undergraduate Graduate Executive education. Act. www.feg.porto.ucp.pt. for your future

CATÓLICA PORTO ECONOMICS AND MANAGEMENT. Undergraduate Graduate Executive education. Act. www.feg.porto.ucp.pt. for your future CATÓLICA PORTO ECONOMICS AND MANAGEMENT Undergraduate Graduate Executive education www.feg.porto.ucp.pt Member of Act for your future Mission Our mission is to educate entrepreneurs and skilled professionals

More information

EXECUTIVE MASTER IN. Increasing corporate value in today s complex digital world through reputation management and communication with stakeholders.

EXECUTIVE MASTER IN. Increasing corporate value in today s complex digital world through reputation management and communication with stakeholders. EXECUTIVE MASTER IN CORPORATE COMMUNICATION Increasing corporate value in today s complex digital world through reputation management and communication with stakeholders. COURSE DESCRIPTION At a Glance

More information

UNIVERSITY OF DAR ES SALAAM BUSINESS SCHOOL POSTGRADUATE PROGRAMMES

UNIVERSITY OF DAR ES SALAAM BUSINESS SCHOOL POSTGRADUATE PROGRAMMES UNIVERSITY OF DAR ES SALAAM BUSINESS SCHOOL POSTGRADUATE PROGRAMMES MASTER OF BUSINESS ADMINISTRATION (MBA) - FULL TIME Introduction The MBA is a programme designed with the needs of the business world

More information

UNDP Business Call to Action & Drishtee Skill Development Center

UNDP Business Call to Action & Drishtee Skill Development Center ANDE Metrics from the Ground Up 2015 Data in Action: Updates from the Field UNDP Business Call to Action & Drishtee Skill Development Center 23 June 2015 Agenda 1. Overview of Business Call to Action 2.

More information

The Decent Work Agenda and Sustainable Enterprises

The Decent Work Agenda and Sustainable Enterprises Workshop on Sustainable Enterprises and Social Responsibility in Business Education A Dialogue with Business Schools The Decent Work Agenda and Sustainable Enterprises José Manuel Salazar-Xirinachs Executive

More information

GTL INFRASTRUCTURE LIMITED POLICY ON CORPORATE SOCIAL RESPONSIBILITY (CSR)

GTL INFRASTRUCTURE LIMITED POLICY ON CORPORATE SOCIAL RESPONSIBILITY (CSR) GTL INFRASTRUCTURE LIMITED POLICY ON CORPORATE SOCIAL RESPONSIBILITY (CSR) INTRODUCTION GIL (the Company) acknowledges debts towards the society in which it operates and in order to discharge its responsibility,

More information

Social Business Initiative

Social Business Initiative The Social Business Initiative of the European Commission Internal Market and Services The electronic version of this leaflet can be found at: http://ec.europa.eu/internal_market/publications/docs/sbi-brochure/sbi-brochure-web_en.pdf

More information

Academic research is one of the key functions of business schools,

Academic research is one of the key functions of business schools, Research Re-Examined AACSB s Impact of Research Task Force generates much dialogue and debate as it issues a report that calls for new ways to measure faculty scholarship. by Sharon Shinn Academic research

More information