Definition
First introduced in 2000 (Harvard Social Enterprise Series, 2000), Blended Value is a theory of both capital and organizational value creation which posits that value itself is whole and nondivisible. Within a Blended Value framework, all value is understood as being generated (by organizations and the application of capital) through the interaction over time of three primary value components: social, economic, and environmental, which together comprise organizational value creation and capital returns.
Historical Background
Traditionally, philanthropy and NGO/nonprofit corporations have been understood as the domain responsible for the creation of social value and impacts, with for-profit corporations and investors charged with the creation of economic value. While it was understood that (primarily through job creation and tax payments) there was an inherent element of social value to mainstream business, the fundamental value proposition of business was viewed as one of...
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References/Further Readings
A Capital Idea: Total Foundation Asset Management and The Unified Investment Strategy, Stanford Business School, Research Paper Number 1786, January 2002.
Blended Value: Papers may be found at www.blendedvalue.org
Emerson, J. (2003). The blended value proposition: Integrating social and financial returns. California Management Review, Summer, 45(4).
Emerson, J. (2003). Unified investment strategy. Where money meets mission: Breaking down the firewall between foundation investments and programming. Stanford Social Innovation Review, Summer.
Emerson, J., & Bonini, S. (2003). The blended value map: Tracking the intersects and opportunities of economic, environmental and social value creation. Hewlett Foundation, October.
Emerson, J., Spitzer, J., & Mulhair, G. (2006). Blended value investing: Capital investment opportunities for social and environmental impact. World Economic Forum, Ref. Paper No. 270306, March.
Social Enterprise Series No. 17 (2000). The nature of returns: A social capital markets inquiry into the elements of investment and the blended value proposition. Harvard Business School Working Paper.
Spitzer, J., Emerson, J., & Harold, J. (2007). Blended value investing: Innovations in real estate. Oxford University, Said Business School, ISBN: 978–1–905551–56–9, Fall.
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Emerson, J. (2010). Blended Value. In: Anheier, H.K., Toepler, S. (eds) International Encyclopedia of Civil Society. Springer, New York, NY. https://doi.org/10.1007/978-0-387-93996-4_67
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DOI: https://doi.org/10.1007/978-0-387-93996-4_67
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