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Irene Bengo is a researcher at the Department of Management, Economics and Industrial Engineering at Politecnico di Milano. She does research on social impact measurement and management and is a lecturer in the Economics and Business Organization and Business in Transformation: Social and Sustainability Challenges courses. She is co-director of TIRESIA, the Politecnico di Milano School of Management’s Research Center for Impact Finance and Innovation. She is the scientific coordinator and project manager of different national and international projects.
Social impact investing (SII) is a strategy of asset allocation that aims to generate social and environmental impact alongside a financial return. Compared to other approaches of sustainable finance it holds an enormous potential of generating solutions to societal challenges. However, scholars have claimed that social impact often just employs logic upheld by the mainstream investment approach. Therefore, the paper investigates the assumption that SII has not developed a distinctive implementation strategy able to translate the prioritization of social impact into practice and how to overcome this issue. The thematic analysis of data collected through 105 interviews with Italian SII financiers and the top managers of social ventures allowed us to identify three features of an SII tailored practice: promoting a cultural shift of intermediaries, adopting a coopetition approach, and integrating the social impact in the terms of the financial transaction. Lastly, the paper drafts a research agenda to enhance the proper theorization of SII focusing on the definition of social risk, social return, and governance mechanisms. The key contribution of this article is confirming the lack of an SII-specific practice able to endogenize the intent of prioritizing social impact and providing suggestions to prevent the risk of impact washing.
Irene Bengo; Alice Borrello; Veronica Chiodo. Preserving the Integrity of Social Impact Investing: Towards a Distinctive Implementation Strategy. Sustainability 2021, 13, 2852 .
AMA StyleIrene Bengo, Alice Borrello, Veronica Chiodo. Preserving the Integrity of Social Impact Investing: Towards a Distinctive Implementation Strategy. Sustainability. 2021; 13 (5):2852.
Chicago/Turabian StyleIrene Bengo; Alice Borrello; Veronica Chiodo. 2021. "Preserving the Integrity of Social Impact Investing: Towards a Distinctive Implementation Strategy." Sustainability 13, no. 5: 2852.
Innovation systems are increasingly oriented towards the solution of societal and environmental problems. Social entrepreneurship can be regarded as a market-based actor, inherently aimed at finding solutions for these problems. The development of technologically advanced social entrepreneurship represents an outcome of problem-oriented innovation systems, requiring a closer link between social and technological innovation. Nonetheless, the literature has not yet explored a key element of these innovation systems: the technology transfer processes, which may enable social entrepreneurial organizations to act as innovation actors leveraging on technology. This paper investigates the relationship between the technology transfer processes targeting social entrepreneurship and different models of problem-oriented innovation ecosystems. The paper relies on a multiple-case-study design, including two problem-oriented innovation ecosystems in the Italian context, namely, MIND and Torino Social Impact, which are technology transfer projects designed to target social entrepreneurship. Drawing from content analysis of interviews, documents and direct observations, the results stress that the different objectives and contents of technology transfer, coupled with different perceptions of the idiosyncratic features of social entrepreneurship compared to commercial entrepreneurship, fit different ecosystem models in terms of the participating actors, governance and primary orientation to social or economic value generation.
Francesco Gerli; Veronica Chiodo; Irene Bengo. Technology Transfer for Social Entrepreneurship: Designing Problem-Oriented Innovation Ecosystems. Sustainability 2020, 13, 20 .
AMA StyleFrancesco Gerli, Veronica Chiodo, Irene Bengo. Technology Transfer for Social Entrepreneurship: Designing Problem-Oriented Innovation Ecosystems. Sustainability. 2020; 13 (1):20.
Chicago/Turabian StyleFrancesco Gerli; Veronica Chiodo; Irene Bengo. 2020. "Technology Transfer for Social Entrepreneurship: Designing Problem-Oriented Innovation Ecosystems." Sustainability 13, no. 1: 20.
This paper contributes to the current debate about Benefit Corporations, presenting the development of this organisational model in Italy, the first country to introduce this hybrid form after the US. Grounded on an institutional logic perspective, it provides a picture of the institutional dynamics that have characterised the rise of this new entrepreneurial form outside the US. The analysis provides an in-depth foundational study of the Italian case and highlights the relevant influence of different institutional pressures in explaining the rise of and constraints in the diffusion of Benefit Corporations. Empirically, it combines secondary data, available from different public sources, and primary data collected through interviews with a series of knowledgeable informants. Based upon the analysis, two aspects appear peculiar for the development of Benefit Corporations in Italy: the interplay between the Benefit Corporation legal form and the certified B Corp model, and the rise of tensions between social entrepreneurship and the third sector ecosystem. This paper concludes that the peculiar institutional pressures leading to the birth of Benefit Corporations in Italy may be source of permanent tensions and of concern for the diffusion of the model.
Marika Arena; Irene Bengo; Francesco Gerli; Paola Colzani. An Institutional Analysis of the Rise of Benefit Corporations Outside of the US: The Case of Italy. 2020, 1 .
AMA StyleMarika Arena, Irene Bengo, Francesco Gerli, Paola Colzani. An Institutional Analysis of the Rise of Benefit Corporations Outside of the US: The Case of Italy. . 2020; ():1.
Chicago/Turabian StyleMarika Arena; Irene Bengo; Francesco Gerli; Paola Colzani. 2020. "An Institutional Analysis of the Rise of Benefit Corporations Outside of the US: The Case of Italy." , no. : 1.
Purpose The purpose of this paper is to perform a critical analysis of the relationship between small- and medium-sized social enterprises (SMSEs) and banks. Based on the conceptual framework for the analysis of SME’s credit availability developed by Berger and Udell (2006), this study aims to contribute to the current debate in two ways: first, outlining the characteristics of the lending technologies currently used by banks and financial institutions to evaluate SMSEs when they apply for credit; and second, discussing, based on the results of the empirical analysis, the coherence of these systems from the social ecosystem perspective and identifying areas for possible improvement. Design/methodology/approach The paper develops a conceptual framework based on the model proposed by Berger and Udell (2006), which defines the characteristics of lending technologies that banks use to evaluate SMEs, and applies it to the case of SMSEs. To study the interplay of these lending technologies, the empirical analysis is based on a case study of five Italian banks. Data are collected from multiple sources to capture key dimensions of the problems analyzed. Findings The paper provides empirical insight about the relationship between SMSEs and banks. The Italian case shows that the current lending infrastructure must be revised to support SMSE credit availability, and government policies affect the national financial institution structure. The relationship between SMSEs and Italian banks remains underdeveloped. Social implications The research supports the scaling up of social business. Originality/value This paper fulfills an identified need to study how social enterprises credit access can be enabled.
Irene Bengo; Marika Arena. The relationship between small and medium-sized social enterprises and banks. International Journal of Productivity and Performance Management 2019, 68, 389 -406.
AMA StyleIrene Bengo, Marika Arena. The relationship between small and medium-sized social enterprises and banks. International Journal of Productivity and Performance Management. 2019; 68 (2):389-406.
Chicago/Turabian StyleIrene Bengo; Marika Arena. 2019. "The relationship between small and medium-sized social enterprises and banks." International Journal of Productivity and Performance Management 68, no. 2: 389-406.
Irene Bengo. Debate: Impact measurement and social public procurement. Public Money & Management 2018, 38, 391 -392.
AMA StyleIrene Bengo. Debate: Impact measurement and social public procurement. Public Money & Management. 2018; 38 (5):391-392.
Chicago/Turabian StyleIrene Bengo. 2018. "Debate: Impact measurement and social public procurement." Public Money & Management 38, no. 5: 391-392.
This paper performs a critical analysis of the financial instruments that can be employed to fund social innovation,\ud with a specific focus on social tech start-ups that develop and deploy technology-driven solutions to\ud address social needs in a financially sustainable manner. The paper analyses how these start-ups can access\ud financing, the barriers to financing that these organisations experience and the financial instruments that are\ud most suitable to address their financial needs. Social tech start-ups have many points of overlap with high-tech\ud start-ups in terms of the barriers they encounter to financing in different lifecycle stages. Still, the institutional\ud solutions that are commonly exploited by high-tech start-ups for growth are not enough to support social tech\ud start-ups to scale. Therefore, we introduce the concept of SII and discuss its potential contribution to the social\ud tech finance landscape. Then, using the case of social tech start-ups as paradigmatic of the broader problem of\ud financing mechanisms for social innovation, we formulate a research agenda, including directions for research\ud and theoretical development in the field of SII
Marika Arena; Irene Bengo; Mario Calderini; Veronica Chiodo. Unlocking finance for social tech start-ups: Is there a new opportunity space? Technological Forecasting and Social Change 2018, 127, 154 -165.
AMA StyleMarika Arena, Irene Bengo, Mario Calderini, Veronica Chiodo. Unlocking finance for social tech start-ups: Is there a new opportunity space? Technological Forecasting and Social Change. 2018; 127 ():154-165.
Chicago/Turabian StyleMarika Arena; Irene Bengo; Mario Calderini; Veronica Chiodo. 2018. "Unlocking finance for social tech start-ups: Is there a new opportunity space?" Technological Forecasting and Social Change 127, no. : 154-165.
In recent years, car-sharing models have undergone relevant changes, leading to the emergence of different operational models, managerial and technological solutions, and more in general different vehicle-sharing configurations. These models are able to answer in different ways to potential mobility needs, put forth by both individual citizens and firms, leading to the idea that vehicle sharing should be not conceived as a standard service. In this context, this chapter outlines the evolution of different car-sharing models emerged from the literature review and discusses Green Move configurations with specific reference to the condominium car sharing, the network of services, and the new business fleet.
Marika Arena; Irene Bengo; Giovanni Azzone. Traditional and Innovative Vehicle-Sharing Models. Sustainable Urban Development and Globalization 2017, 25 -36.
AMA StyleMarika Arena, Irene Bengo, Giovanni Azzone. Traditional and Innovative Vehicle-Sharing Models. Sustainable Urban Development and Globalization. 2017; ():25-36.
Chicago/Turabian StyleMarika Arena; Irene Bengo; Giovanni Azzone. 2017. "Traditional and Innovative Vehicle-Sharing Models." Sustainable Urban Development and Globalization , no. : 25-36.
This chapter aims to contribute to the debate about performance measurement and management in the social business sector through the analysis of the critical issues that arise in the implementation of impact assessment models in social business organizations. To this aim, the social impact measurement approaches, which are suggested in the literature, are analyzed and the strengths and weaknesses of different frameworks are highlighted. Then, the critical issues that could emerge in the implementation of social impact assessment practices are identified and discussed base on the case of an Italian social enterprise working in the education field, Cometa. Finally, the paper provides some guidelines and recommendations aimed to mitigate these critical issues.
Tomaso Amati; Marika Arena; Irene Bengo; Debora Caloni; Lindy Lou West; Andrew Worthington. Social Impact Measurement and Management. Handbook of Research on Climate Change and the Sustainable Financial Sector 2017, 371 -388.
AMA StyleTomaso Amati, Marika Arena, Irene Bengo, Debora Caloni, Lindy Lou West, Andrew Worthington. Social Impact Measurement and Management. Handbook of Research on Climate Change and the Sustainable Financial Sector. 2017; ():371-388.
Chicago/Turabian StyleTomaso Amati; Marika Arena; Irene Bengo; Debora Caloni; Lindy Lou West; Andrew Worthington. 2017. "Social Impact Measurement and Management." Handbook of Research on Climate Change and the Sustainable Financial Sector , no. : 371-388.
This paper presents a roadmap to support the development of social impact bonds (SIBs) in Italy. Current barriers and opportunities are explained. SIBs should be piloted in areas where the cultural, ideological, technical and governance barriers are low. Accurate measurement systems will be necessary and an effective governance structure needs to be agreed. With careful piloting and follow-up, the SIB model could be a solution to welfare and public service funding in Italy.
Irene Bengo; Mario Calderini. New development: Are social impact bonds (SIBs) viable in Italy? A new roadmap. Public Money & Management 2016, 36, 303 -306.
AMA StyleIrene Bengo, Mario Calderini. New development: Are social impact bonds (SIBs) viable in Italy? A new roadmap. Public Money & Management. 2016; 36 (4):303-306.
Chicago/Turabian StyleIrene Bengo; Mario Calderini. 2016. "New development: Are social impact bonds (SIBs) viable in Italy? A new roadmap." Public Money & Management 36, no. 4: 303-306.
Despite the general hype, Social Impact Bonds’ (SIB) rate of adoption is still modest. The mismatch between widespread interest and actual adoption raises interesting questions as to whether we are still in the early adoption phase of SIBs and massive diffusion is yet to come, or we are observing a marginal phenomenon. In order to shed some light on this issue, the paper provides a review of the cases in which the SIB model has been already applied, exploring the specific configuration employed, with the purpose to identify regular configuration patterns and their deviation from a prototypical structure.
Marika Arena; Irene Bengo; Mario Calderini; Veronica Chiodo. Social Impact Bonds: Blockbuster or Flash in a Pan? International Journal of Public Administration 2016, 39, 927 -939.
AMA StyleMarika Arena, Irene Bengo, Mario Calderini, Veronica Chiodo. Social Impact Bonds: Blockbuster or Flash in a Pan? International Journal of Public Administration. 2016; 39 (12):927-939.
Chicago/Turabian StyleMarika Arena; Irene Bengo; Mario Calderini; Veronica Chiodo. 2016. "Social Impact Bonds: Blockbuster or Flash in a Pan?" International Journal of Public Administration 39, no. 12: 927-939.
Over the past 20 years, the issue of performance measurement in Social Enterprises (SEs) has gained increasing relevance among researchers and practitioners. From an academic perspective, there has been an explosion in methodologies and tools for assessing social performance and impact, but with little systematic analysis and comparison across different approaches. From a practitioner perspective, SEs need to start measuring their performances in a systemic way, in order to support decision making and ensure accountability towards their stakeholders. In this context, this paper aims to contribute to the state of the art literature by developing an approach that could be applied to/by SEs to measure their results with respect to social, environmental and economic impacts. The proposed approach consists of a “general” PMS model for SEs—i.e., the performance dimensions that should be measured—and a stepwise method to be used by SEs to develop their own PMS. For sake of clarification, the proposed approach is applied to the case of an Italian SE competing in the energy sector to develop a set of key performance indicators. Les vingt dernières années ont vu croître la pertinence donnée à la problématique de l’évaluation des performances des entreprises sociales (ES) par les chercheurs et les professionnels du secteur. Du côté universitaire, nous avons assisté à une explosion des méthodologies et des outils d’évaluation de performances et d’impact sociaux, toutefois peu accompagnée d’analyses et de comparaisons systématiques entre les différentes approches. Du côté des professionnels, les ES doivent mettre en œuvre une évaluation systémique de leurs performances afin d’aider à la prise de décision et de pouvoir rendre des comptes à leurs partenaires. Dans un tel contexte, cet article se veut une contribution à la littérature portant sur l’état de l’art: il élabore une approche applicable aux ou par les ES, visant à mesurer leurs résultats en termes d’impact social, environnemental et économique. L’approche proposée consiste d’une part en un modèle « général » de système de gestion de la performance (SGP) adapté aux ES, en d’autres termes, les dimensions de performance qu’il faut mesurer, et d’autre part en une méthode pas-à-pas destinée aux ES pour leur permettre d’élaborer leur propre SGP. Dans un souci de clarté, cette approche est appliquée au cas d’une ES italienne œuvrant dans le domaine de l’énergie pour développer un ensemble d’indicateurs de performances clés. In den letzten 20 Jahren hat das Thema Leistungsmessung in Sozialunternehmen für Forscher und Praktiker zunehmend an Bedeutung gewonnen. Aus der akademischen Perspektive betrachtet gab es einen wahren Ausbruch von Methodologien und Instrumenten zur Messung der gesellschaftlichen Leistung und Auswirkung, jedoch gingen diese mit nur geringer systematischer Analyse und wenig Vergleiche zwischen den verschiedenen Ansätzen einher. Aus der praxisorientierten Perspektive müssen Sozialunternehmen ihre Leistungen systematisch messen, um ihre Entscheidungsfindungen zu unterstützen und die Wahrnehmung ihrer Rechenschaftspflicht gegenüber ihren Stakeholdern zu gewährleisten. In diesem Zusammenhang möchte die vorliegende Abhandlung zur neuesten Literatur beitragen. Dazu wird ein Ansatz entwickelt, der auf Sozialunternehmen anwendbar ist bzw. der von diesen verfolgt werden kann, um ihre Ergebnisse in Bezug auf die gesellschaftlichen, ökologischen und wirtschaftlichen Auswirkungen zu messen. Der vorgeschlagene Ansatz beinhaltet ein „allgemeines“Modell für ein Leistungsmanagementsystem für Sozialunternehmen, d. h. die zu messenden Leistungsdimensionen, sowie eine stufenweise Methode, die von den Sozialunternehmen anzuwenden ist, um ihre eigenen Leistungsmanagementsysteme zu entwickeln. Der Klarheit halber wird der vorgeschlagene Ansatz auf das Beispiel eines italienischen Sozialunternehmens im Energiesektor angewandt, das bestrebt ist, eine Reihe wichtiger Leistungsindikatoren zu entwickeln. A lo largo de los últimos veinte años, el problema de la medición del rendimiento en las Empresas Sociales (SE, del inglés Social Enterprise) ha cobrado una creciente relevancia entre los investigadores y los profesionales. Desde una perspectiva académica, se ha producido una explosión en las metodologías y las herramientas para la evaluación del rendimiento y el impacto social, pero se han realizado pocos análisis sistemáticos y comparaciones entre los diferentes enfoques. Desde una perspectiva profesional, las SE necesitan comenzar a medir su rendimiento de manera sistémica, con el fin de apoyar la toma de decisiones y garantizar la rendición de cuentas ante sus partes interesadas. En este contexto, el presente documento tiene como objetivo contribuir al material publicado de vanguardia mediante el desarrollo de un enfoque que podría ser aplicado a/por las SE para medir sus resultados con respecto a los impactos sociales, medioambientales y económicos. El enfoque propuesto consiste en un modelo PMS “general” para las SE, es decir, las dimensiones del rendimiento que deben ser medidas—y un método escalonado que deben utilizar las SE para desarrollar su propio PMS (sistema de medición del rendimiento). Con fines de aclaración, el enfoque propuesto se aplica al caso de una SE italiana que compite en el sector energético para desarrollar un conjunto de indicadores del rendimiento claves. 在过去的二十年,社会企业单位绩效评估的问题使得更多相关的研究在调查者和从业者中展开。从学术的角度,对于评估社会绩效和影响的方法论和工具已经有很多了,但是很少有跨越不同方法的系统性的分析和比较。从从业者的角度来看,为了支持利益共享者的决策和保证其责任,社会企业需要以一种系统的方式来评估从业者的业绩。...
Marika Arena; Giovanni Azzone; Irene Bengo. Performance Measurement for Social Enterprises. VOLUNTAS: International Journal of Voluntary and Nonprofit Organizations 2014, 26, 649 -672.
AMA StyleMarika Arena, Giovanni Azzone, Irene Bengo. Performance Measurement for Social Enterprises. VOLUNTAS: International Journal of Voluntary and Nonprofit Organizations. 2014; 26 (2):649-672.
Chicago/Turabian StyleMarika Arena; Giovanni Azzone; Irene Bengo. 2014. "Performance Measurement for Social Enterprises." VOLUNTAS: International Journal of Voluntary and Nonprofit Organizations 26, no. 2: 649-672.
In the last decades, the issue of energy access has attracted increasing attention from both academic and practitioners and the debate has gone beyond purely technical issues, raising the interest of the public opinion and private citizens. Particular attention has been given to the question: how private and public organizations can ensure energy access to everybody? From this perspective, this Chapter aims to analyze and discuss three cases of social proactive organizations in the energy sector in order to highlight how they have succeeded in combining social values with environmental and financial sustainability. New business models aiming at reaching low-income communities with efficient and sustainable energy systems should take into account all social aspects linked to the energy supply chain from production, distribution to final use and ensure the active participation of local communities. This ensures that energy access initiatives lead to effective results in terms of industrial and manufacturing activities but also contribute to improve health, education and livelihoods.
Irene Bengo; Marika Arena. Integrating the Social Dimension into New Business Models for Energy Access. Renewable Energy for Unleashing Sustainable Development 2013, 203 -217.
AMA StyleIrene Bengo, Marika Arena. Integrating the Social Dimension into New Business Models for Energy Access. Renewable Energy for Unleashing Sustainable Development. 2013; ():203-217.
Chicago/Turabian StyleIrene Bengo; Marika Arena. 2013. "Integrating the Social Dimension into New Business Models for Energy Access." Renewable Energy for Unleashing Sustainable Development , no. : 203-217.
This paper presents a systemic methodology by which engineering is put to use in vulnerable communities through applied technological research and the main results of its application. The methodology presented corresponds to one implemented and designed by two groups of Engineers without Borders in Europe and Latin America, to integrate technical know-how with local context in communities with water problems in Colombia and the Democratic Republic of Congo. The main results of this methodology are related to the improvement of the living conditions of vulnerable groups thanks to the integration of the communities’ knowledge with engineering know-how, leading to autonomous communities and engineering professors and students learning from real life problems to enrich applied sciences.
María Catalina Ramírez; Irene Bengo; Riccardo Mereu; Astrid Ximena Bejarano R.; Juan Camilo Silva. Participative Methodology for Local Development: The Contribution of Engineers Without Borders from Italy and Colombia: Towards the Improvement of Water Quality in Vulnerable Communities. Systemic Practice and Action Research 2010, 24, 45 -66.
AMA StyleMaría Catalina Ramírez, Irene Bengo, Riccardo Mereu, Astrid Ximena Bejarano R., Juan Camilo Silva. Participative Methodology for Local Development: The Contribution of Engineers Without Borders from Italy and Colombia: Towards the Improvement of Water Quality in Vulnerable Communities. Systemic Practice and Action Research. 2010; 24 (1):45-66.
Chicago/Turabian StyleMaría Catalina Ramírez; Irene Bengo; Riccardo Mereu; Astrid Ximena Bejarano R.; Juan Camilo Silva. 2010. "Participative Methodology for Local Development: The Contribution of Engineers Without Borders from Italy and Colombia: Towards the Improvement of Water Quality in Vulnerable Communities." Systemic Practice and Action Research 24, no. 1: 45-66.
At present, a wide range of stakeholders including consumers, regulators, shareholders and public bodies are demanding that companies address sustainability in a more comprehensive way. However, even if a company actually wishes to innovate its processes for improving the way to account for sustainability, it will face relevant difficulties to deal with different guidelines, tools and methods currently addressing the matter from various points of view. The purpose of this paper is to review and synthesise literature on sustainability from an operational point of view with the objective to help companies to answer to three main questions: What is sustainability? (How it has been defined), How can sustainability of processes and products be achieved and measured? (What are the different existing means and indicators) and How can they be improved? In such a context, this paper investigates and debates the role of technological development, as an enabling factor of sustainability within the companies.
Marika Arena; Natalia Duque Ciceri; Sergio Terzi; Irene Bengo; Giovanni Azzone; Marco Garetti. A state-of-the-art of industrial sustainability: definitions, tools and metrics. International Journal of Product Lifecycle Management 2009, 4, 207 .
AMA StyleMarika Arena, Natalia Duque Ciceri, Sergio Terzi, Irene Bengo, Giovanni Azzone, Marco Garetti. A state-of-the-art of industrial sustainability: definitions, tools and metrics. International Journal of Product Lifecycle Management. 2009; 4 (1/2/3):207.
Chicago/Turabian StyleMarika Arena; Natalia Duque Ciceri; Sergio Terzi; Irene Bengo; Giovanni Azzone; Marco Garetti. 2009. "A state-of-the-art of industrial sustainability: definitions, tools and metrics." International Journal of Product Lifecycle Management 4, no. 1/2/3: 207.