Abstract
Theories of change revisited. In the context of the Sustainable Development Goals (SDGs) and the challenges ahead, actors must think beyond an innovation strategy above and foremost about the impact they want to achieve. They need to realise that impact does not stem from innovation but from the scaling of innovation results. Thus the outcomes of their theory of change in terms of what their innovation should achieve becomes of key importance. There needs to be a paradigm shift: Today we move from problem solving concepts like environmental and social governance to creating a future based on the SDGs, which provide target knowledge. How does economy 3.0 look like in 2030, 2400 or 2050?
You cannot create the future using the old strategy tools. … The big challenge in creating the future is not predicting the future; instead the goal is to try to imagine a future that is plausible, that you can create.
Charles Handy
This is a preview of subscription content, log in via an institution to check access.
Access this chapter
Tax calculation will be finalised at checkout
Purchases are for personal use only
References
Bouri, A., Fonzi, C. J., Gelfand, S., Gromis, A., Lankester, K., Leung, G., McCarthy, K., et al. (2011). Data driven: A performance analysis for the impact investing industry. New York: Impact Reporting and Investment Standards (IRIS), Global Impact Investing Network.
Canadian International Development Agency. (2006). Guide to organizational assessment. Gatineau: Canadian International Development Agency.
Davies, R., & Dart, J. (2005). The ‘most significant change’ technique: A guide to its use. Cambridge: Care International.
Funnell, S. C., & Rogers, P. J. (2011). Purposeful program theory: Effective use of theories of change and logic models. San Francisco: Jossey-Bass.
Global Impact Investing Rating System (GIIRS). (2012a). GIIRS quarterly analytics report: Q1 2012. Global Impact Investing Rating System.
Global Impact Investing Rating System (GIIRS). (2012b). Appendix III: TIIRS and theory of change logic model. Retrieved from http://www.giirs.org/about-giirs/how-giirs-works/173
Godeke, S., & Pomares, R. (2009). Solutions for impact investors: From strategy to implementation. New York: Rockefeller Philanthropy Advisors.
Harji, K. (2008a). Social return on investment. Ottawa: Carleton Centre for Community Innovation, Carleton University.
Harji, K. (2008b). Expanded value added statement. Ottawa: Carleton Centre for Community Innovation, Carleton University.
Harji, K., & Jackson, E. T. (2012). Accelerating impact: Achievements, challenges and what’s next in the impact investing industry. New York: The Rockefeller Foundation.
International Development Research Centre (IDRC) and Universalia Management Group. (n.d.). Organizational assessment framework. Ottawa. Retrieved from https://books.google.de/books?id=iNffAgAAQBAJ&printsec=copyright&hl=de&source=gbs_pub_info_r#v=onepage&q&f=false
Jackson, E. T., & Harji, K. (2012). Unlocking capital, activating a movement: Final report of the strategic assessment of the Rockefeller Foundation’s impact investing initiative. New York: The Rockefeller Foundation.
Mayne, J. (2008). Contribution analysis: An approach to exploring cause and effect. ILAC Brief 16.
Mook, L. (Ed.). (2013). Accounting for social value. Toronto: University of TorontoPress.
Morra-Imas, L., & Rist, C. (2009). The road to results: Designing and conducting effective development evaluations. Washington, DC: World Bank.
Nexii. (2012). Due diligence in impact investing. Retrieved June 30, 2017, from http://www.nexii.com/blog/due-diligence-in-impact-investing/
Rogers, P. J. (2008). Using programme theory to evaluate complicated and complex programmes. Evaluation, 14(1), 29–48. Root Capital. 2012. [online] Various. Retrieved from http://www.rootcapital.org
Saltuk, Y., Bouri, A., & Leung, G. (2011). Insight into the impact investment market. New York: J.P. Morgan and Global Impact Investing Network. e-book.
SROI Network. (2012). Social return on investment guide. London: SROI.
Author information
Authors and Affiliations
Corresponding author
Editor information
Editors and Affiliations
Rights and permissions
Copyright information
© 2021 Springer Nature Switzerland AG
About this chapter
Cite this chapter
Wendt, K. (2021). Theory of Change: Defining the Research Agenda. In: Wendt, K. (eds) Theories of Change. Sustainable Finance. Springer, Cham. https://doi.org/10.1007/978-3-030-52275-9_1
Download citation
DOI: https://doi.org/10.1007/978-3-030-52275-9_1
Published:
Publisher Name: Springer, Cham
Print ISBN: 978-3-030-52274-2
Online ISBN: 978-3-030-52275-9
eBook Packages: Economics and FinanceEconomics and Finance (R0)