TIRESIA (Technology, Innovation and Research for Social Impact) promotes the teaching and research in the impact economy, an emerging entrepreneurial and financial paradigm including all organizational forms which are intentionally designed and managed to exert a transformative power on society. We refer to these latter as impact-oriented organizations, primarily including social ventures, impact-driven for-profit companies, impact investors, banks, financial institutions and policy makers. The group’s research and teaching is dedicated to understanding structures, managerial practices and strategies of such organizational forms, with a specific focus on the role played by technological opportunities
Social Impact management and measurement
About the project
Principal Investigators: Mario Calderini, Irene Bengo
Researcher team:Alice Borrello, Nicola Ballerini, Federico Bartolomucci, Debora Caloni, Veronica Chiodo, Benedetta De Pieri, Magali Fia, Francesco Gerli, Gabriele Guzzetti, Farah Nabil, Valentina Tosi
Funders: Multiple
Duration: 2013 – on going
Partners: Multiple
KEY RESEARCH QUESTIONS
TIRESIA (Technology, Innovation and Research for Social Impact) promotes the teaching and research in the impact economy, an emerging entrepreneurial and financial paradigm including all organizational forms which are intentionally designed and managed to exert a transformative power on society. We refer to these latter as impact-oriented organizations, primarily including social ventures, impact-driven for-profit companies, impact investors, banks, financial institutions and policy makers. The group’s research and teaching is dedicated to understanding structures, managerial practices and strategies of such organizational forms, with a specific focus on the role played by technological opportunities. TIRESIA built up a relevant knowledge and experience in providing strategic advice to social innovators and entrepreneurs, both as far as impact mission definition and impact value proposition is concerned as well as in the definition of social impact metrics, measurement practices and indicators. These activities are directed to for-profit corporations, financial institutions, foundations, policy makers and third sector organizations.
What is a managerially relevant measure of social impact and what is the role of the so called impact-triad (intentionality-measurability-additionality) in a radical and consistent definition of impact?
- What is the role of social innovators and entrepreneurs in the impact-economy?
- Is there a potential for the impact economy to promote structural economic change and to exert a transformative power on society, so to inaugurate a new generation of transformative welfare policies?
- What is the role of technological opportunities in supporting such process of transformation?
- Can we identify new emerging impact-oriented organizational forms and how do they relate to the transformation of social entrepreneurship on the one side and the evolution of advanced CSR practices in for-profit organisations on the other side?
- How can we devolp consistent metrics for social impact measurement and management?
- How is sustainable finance evolving and developing new instruments to assist social innovators and entrepreneurs in their growth and scaling strategies? What is the specific role of the new potential asset class called impact finance?
- We consider sustainable finance ad composed by three main groups of practices: ESG integration, Value-driven finance and impact finance. What is the difference and relationship between the three groups? How are the three groups evolving and co-evolving?
- What is the relationship between impact investors and public administration? Does the notion of impact opens up new opportunities for public-private partnerships?
OUTPUTS & IMPACTS
Academic research
Main scientific articles:
- BENGO, I., ARENA, M. (2019). The relationship between small and medium-sized social enterprises and banks. International Journal of Productivity and Performance Management, in press
- BENGO, I. (2018). Debate: Impact measurement and social public procurement. Public Money & Management, 38(5), 391-392
- CALDERINI, M., CHIODO, V. & MICHELUCCI , F.V. (2018). The social impact investment race: toward an interpretative framework European Business Review, Vol. 30 Issue: 1, pp.66-81
- ARENA, M., BENGO, I., CALDERINI, M. & CHIODO, V. (2017). Unlocking finance for social tech start-ups: Is there a new opportunity space? Technological Forecasting and Social Change. 127, 154-165.
- BENGO, I., CALDERINI, M. (2016). New development: Are social impact bonds (SIBs) viable in Italy? A new roadmap. Public Money & Management, 36(4), 303-306.
- BENGO, I., ARENA, M., AZZONE, G., CALDERINI, M. (2016). Indicators and metrics for social business: A review of current approaches. Journal of Social Entrepreneurship, 7(1), 1-24.
- ARENA, M., AZZONE, G., BENGO, I. (2015). Performance Measurement for Social Enterprises. VOLUNTAS: International Journal of Voluntary and Nonprofit Organizations:, 1(24), 649–672
Impact results
FUNDERS
- Funds and Banks: Equiter, Intesa San Paolo, OltreVenture, Plus Value, Sefea Unicredit, Ubi Banca
- Social Ventures: ActionAid, Fondazione Bracco, Fondazione Cariplo, Paideia, PerMicro, SpazioZeroSei, Gruppo CGM, Centro Medico Sant’Agostino.
- For Profit Companies: Alessi, Iren, Del Cambio, Allianz, Studio Carlo Ratti
- Institutions: Comune di Milano, Istituzioni Scolastiche, Ministero dello sviluppo Economico, Ministero degli affari Esteri, Ministero degli Affari Esteri, OECD, JRC European Commission.
PARTNERS
- Social Ventures: ActionAid, Fondazione Bracco, Fondazione Cariplo, Gruppo CGM, Valdocco
- Institutions: Comune di Milano, Istituzioni Scolastiche, Ministero dello sviluppo Economico, Ministero degli affari Esteri, Ministero degli Affari Esteri, OECD.
- Academic: Università di Trento, Università di Bologna, Università di Napoli, Università di Torino, Università di Macerata, Università di Catanzaro, Università Bocconi, Università Cattolica, Politecnico di Torino.
