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Social value is the value of the difference we make? It is the value of the changes that stakeholders – such as young people, adults involved in the Award delivery, businesses and governments – experience due to the Award?
Through our social value model we are uncovering how these changes occur. Through welfare economics we can represent these changes in monetary terms. Social value evaluation helps us understand the contribution of the Award to society and economy.
The methodology of our social value evaluation uses quantitative research and data to value the following broad, long-term effects of the Award on individuals and their communities.
FIND OUT MORE about our social value model and evaluation in our recent publication in conjunction with PricewaterhouseCoopers (PwC) Changing lives in the changing world.