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Education sciences ArticleUtilising the Social Return on Investment (SRO) Framework to Gauge Social Value in the Fast Forward Program Fiji Raoul 1, *, Shannon Said 1, Jim Mick 2 and Gaul Purchase
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Social value refers to the overall impact of an organization's activities on society, including economic, social, and environmental outcomes. It encompasses the benefits that help improve the well-being of individuals and communities.
Organizations that meet certain thresholds, such as government contractors and non-profit entities engaged in public services, are required to file social value assessments.
To fill out social value assessments, organizations need to identify their key activities, measure their impacts on social outcomes, and report how they contribute to social objectives and community well-being.
The purpose of social value assessments is to ensure that organizations are accountable for their social impacts, promote sustainability, and enhance community prosperity through responsible practices.
Organizations must report on quantitative and qualitative data showing the social impact of their projects, stakeholder engagement results, and alignment with local community needs and goals.
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