BS 8950:2020

This standard BS 8950:2020 Social value. Understanding and enhancing. Guide is classified in these ICS categories:

• 03.100.99 Other standards related to company organization and management

This British Standard:

1. gives guidance and principles for the understanding, preservation and enhancement of social value;

2. focuses on the collection and use of appropriate data for making decisions about social value in all types and sizes of activities, organizations and groups, including public, private and social purpose organizations working alone or with others; and

3. creates a framework for measuring social value building on and linking to existing principles and frameworks.

This standard does not provide:

1. detailed practical instructions for carrying out specific related social value activities; and

2. standardized data for qualifying impact.

The intended users of this guide are decision makers within organizations and those who support the decision‑making process. They cover:

1. organizations and companies in all sectors – public, private, civil society, and government, as well as collaborations and partnerships;

2. investors, commissioners and advisors; and

3. those who are already measuring social value as well as those who are new to the idea.

NOTE Different audiences are likely to experience specific issues in understanding, preserving and enhancing social value although the basic frameworks and data types and are unlikely to vary significantly. See  4.2.3  for more detail.