Question

Explain what Social added value is

Answer 1

Answer:

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Answer 2

Answer:

Social value is the quantification of the relative importance that people place on the changes they experience in their lives. Some, but not all of this value is captured in market prices. It is important to consider and measure this social value from the perspective of those affected by an organisation’s work. Social added value describes the benefits a business or organisation provides in terms of its social or environmental impact.  Proving your social added value is becoming increasingly important for the social economy.  Examples of social value might be the value we experience from increasing our confidence, or from living next to a community park. These things are important to us but are not commonly expressed or measured in the same way that financial value is.