7 H H

Consideration as a Social Value

Guðbjörg

Presentation – The Lighthouse by Guðbjörg Eggertsdóttir

Social value refers to the positive impact an action, organization, or project has on people and communities beyond financial or economic outcomes. It’s about creating benefits that improve wellbeing, strengthen relationships, and contribute to a fairer, more sustainable society.

Key considerations when thinking about social value include:

  1. Community Impact – How does the initiative support local communities, inclusion, and social cohesion?
  2. Wellbeing – Does it enhance physical, mental, or emotional wellbeing for individuals or groups?
  3. Equity and Inclusion – Are opportunities and benefits distributed fairly, especially to marginalized or vulnerable populations?
  4. Environmental Responsibility – Does it promote sustainability, reduce waste, or protect natural resources?
  5. Economic Empowerment – Does it create meaningful employment, skill development, or local economic growth?
  6. Long-Term Outcomes – Are the benefits lasting and measurable over time, not just short-term gains?
  7. Stakeholder Engagement – Are people affected by the initiative involved in shaping and evaluating it?

Social value is often measured through frameworks like the Social Return on Investment (SROI) or through qualitative storytelling that captures human impact.

Practicing social value involves embedding purpose and positive impact into everyday decisions, projects, and relationships.

Ways to practice it:

  1. Start with intention – Define what social value means for you or your organization. Align it with your values and mission.
  2. Engage stakeholders – Listen to the needs of your community, employees, or customers. Co-create solutions that matter to them.
  3. Integrate into operations – Choose suppliers, partners, and practices that reflect ethical, sustainable, and inclusive principles.
  4. Support wellbeing – Encourage balance, compassion, and mindfulness in your workplace or community.
  5. Measure impact – Track outcomes such as improved wellbeing, reduced inequality, or environmental benefits. Use both data and stories.
  6. Educate and inspire – Share knowledge about social value and celebrate examples of positive change.
  7. Reflect and adapt – Regularly review what’s working and where you can deepen your impact.

Practicing social value is an ongoing process of awareness, action, and alignment between what you do and the good it creates for others.