What is Developmental Evaluation

The global economy brings about new trends, challenges, and needs, which require new solutions. Social innovations can have a major role in satisfying unmet social needs and increasing overall well-being. Measuring social innovation is therefore an important task with the purpose of informing the stakeholders about the performance value that an innovation creates. Standard accounting tools often neglect social or environmental impact, and thus, new or adjusted methods need to be developed. The objective of this chapter is to analyze methods of measuring social innovation and discuss advantages and disadvantages of traditional measures versus new approaches with the purpose of better understanding the significance of social innovation in the global economy. The chapter consists of six parts. After the introduction follows the literature review. The third part of the chapter discusses different approaches to measuring innovations while the fourth part suggests some new approaches to measuring social innovations. The fifth part describes future research perspectives. The final part is the conclusion.