Role of Stakeholders in Social Return on Investment (SROI) Evaluation

Abstract

This academic article aimed to study the role of stakeholders in Social Return on Investment Evaluation (SROI). The scope of the study covered the concept of Social Return on Investment Evaluation (SROI), principles and methodologies of Social Return on Investment Evaluation (SROI), stakeholder acquisition in Social Return on Investment Evaluation (SROI), the role of stakeholders in Social Return on Investment (SROI) evaluation research. It was found that stakeholders played a vital role in multiple stages of the evaluation, ranging from identifying project outcomes and providing insights that reflected actual and hidden impacts, to validating and offering feedback on the findings. Consequently, stakeholder engagement enhanced the SROI evaluation, making it more comprehensive, transparent, and credible, thereby ensuring that the outcomes accurately reflected the actual needs and impacts on the target group. Furthermore, the role of stakeholders extends to assisting in outcome mapping, valuing the generated outcomes, and calculating the social return. This provided critical data to improve and develop the project in alignment with community needs. Their active participation at every stage also enhanced project sustainability by fostering long-term cooperation between stakeholders and the project.