Week 3 Flashcards
As a social entrepreneur, only the measure of social impact matters.
TRUE/FALSE
FALSE
The measurement of financial performance is as objective as the measurement of social impact.
TRUE/FALSE
FALSE
Both financial performance and social impact are measured based on generally accepted principles, such as IFRS norms and the UN Global Goals.
TRUE/FALSE
FALSE
Social Entrepreneurs are the only organizations that aim to have a social and/or economic impact.
TRUE/FALSE
FALSE
Due to an increasing pressure from various stakeholders, such as NGOs and consumers, traditional for-profit companies have started addressing the issue of social and economic impact.
TRUE/FALSE
TRUE
Who is interested in the social impact that you measure as a social entrepreneur?
* Foundations
* Governments
* Impact investors
- Foundations
- Governments
- Impact investors
Social impact can take very different forms depending on the sector in which your social enterprise operates.
TRUE/FALSE
TRUE
What are the benefits of a social measurement system?
- It helps to convince donors that their money is well invested in your social enterprise
- It will allow you to better track your progress in achieving your social mission
- It is a competitive advantage when competing for funding with other social entrepreneurs
- It helps to convince donors that their money is well invested in your social enterprise
- It will allow you to better track your progress in achieving your social mission
- It is a competitive advantage when competing for funding with other social entrepreneurs
Social impact measurement is useful for reporting progress towards social mission to external stakeholders and has little use internally, within your social enterprise.
TRUE/FALSE
FALSE
Who is interested in the social impact that you measure as a social entrepreneur?
* Foundations
* Governments
* Impact investors
* All of the above
- Foundations
- Governments
- Impact investors
All of the above
Which of the following steps are useful to design a social impact measurement system?
- Stakeholder mapping
- Definition of different impacts
- Understand Scope & Magnitude (Theory of Change)
- Defining key performance indicators
- Measurement system Design
- Stakeholder mapping
- Definition of different impacts
- Understand Scope & Magnitude (Theory of Change)
- Defining key performance indicators
- Measurement system Design
Stakeholder mapping is one of the last two steps to develop a social impact measurement system.
TRUE/FALSE
FALSE
Its the first
The idea behind stakeholder mapping is that you must understand the different stakeholders of the social enterprise before you can define the impacts.
TRUE/FALSE
TRUE
After mapping stakeholders, you should work to define, as precisely as possible, the different impacts you have on different stakeholders.
TRUE/FALSE
TRUE
Mapping the impact you have on all of your stakeholders is the THIRD step to stakeholder mapping
TRUE/FALSE
FALSE
It is the second
To develop a theory of change, you need to map your stakeholders.
TRUE/FALSE
TRUE
The sum of theoretical assumptions to develop an appropriate social impact measurement system is called theory of change.
TRUE/FALSE
TRUE
Key performance indicators (KPIs) used to measure social impact need to have a clear link to the social entrepreneur’s theory of change.
TRUE/FALSE
TRUE
When deciding on a measurement design, the gold standard for tackling the attribution error is through randomized control trials (RCTs).
TRUE/FALSE
TRUE
A randomized control trial (RCT) can require that beneficiaries are randomly assigned to treatment and control groups.
TRUE/FALSE
TRUE
Social entrepreneurs should use randomized control trials to measure their social impact.
TRUE/FALSE
FALSE
It is important for social entrepreneurs to measure and monitor all potential impacts.
TRUE/FALSE
FALSE
Ticket for Change and Euforia use the same social impact measurement design.
TRUE/FALSE
FALSE
Consider a social entrepreneur selling mosquito nets, measuring the number of nets sold was…
- Not the best measure of social impact because this did not decrease the number of malaria cases in the region at all.
- The best measure of social impact.
- Not the best measure of social impact because it does not account for the way people used the nets.
Not the best measure of social impact because it does not account for the way people used the nets.
Which of the following steps is useful to design a social impact measurement system?
- Definition of different impacts
- Key competitor analysis
- Measurement system design
- Cost-benefit analysis
- Definition of different impacts
- Measurement system design
What are the benefits of a social measurement system?
- It is necessary in many countries to comply with the law
- It will allow you to better track your progress in achieving your social mission
- It helps to convince donors that their money is well invested in your social enterprise
- It will allow you to better track your progress in achieving your social mission
- It helps to convince donors that their money is well invested in your social enterprise
Financial performance can be measured objectively based on generally accepted principles, whereas there are no generally accepted principles for measuring social impact.
TRUE/FALSE
TRUE
