For business entrepreneurs, there are well-established methods for measuring the value they make, which are based on looking at price/earnings ratios and alike. Whatever different sorts of value businesses create, the financial profit – the traditional bottom line is accepted as the most important measure of value (Young, 2006). On the other hand, social entrepreneurs’ creation of social value rests on measuring the benefits acquired by people whose urgent needs are not being met by any means (Young, 2006), which is measuring social impact. One of the ways that social entrepreneurs use to assess their social impact is the logic model, which explains the relationships among inputs, processes, outputs, outcomes, and impact (Zappala and Lyons, 2009).
Inputs are resources dedicated to a certain program, whether these resources are human or financial resources. Outputs and results are the direct products of the program activities including for example number of classes provided for beneficiaries, number of beneficiaries participating in the program, number of service hours, and alike. The outcomes are the benefits for participants in the program activities, and usually they are short-term benefits as an immediate result of the program. For example, outcomes may include changes in beneficiaries’ performance, increase in beneficiaries’ knowledge, the ability of beneficiaries to pass exams . . . etc. Impact is the sustainable long-term change that happens in beneficiaries’ lives as well as the community at large; for example, changing stereotypes or creating new vocations (Buckmaster, 1999; Haugh, 2006; European Commission, 2006).
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