Publications and Presentations: Additional Papers

Capitalism 3.0

February/March 2006

by Jed Emerson and Sheila Bonini
Originally published as part of the Blended Value Map and a chapter in the book series The Accountable Corporation, this article in the Value News Network explores steps for creating the next phase of capitalism, an integrated form of economics that builds upon the cross cutting links between social investing and philanthropy on the one hand, and sustainable development, social enterprise and corporate social responsibility on the other.
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Sustainable Capitalism

August 2005

by Jed Emerson
Commissioned by The Case Foundation, this essay explores a broad vision for sustainable capitalism and the implications for foundations interested in advancing that vision. Download PDF (88KB)

The Investor's Toolkit

June 1, 2004

by Jed Emerson, Timothy Freundlich, and Shari Berenbach
This paper offers an introduction to the concept of managing financial assets using a strategy that maximizes not only economic performance, but also social and environmental returns. Here we explore the current state of this evolving investment approach, as well as the logic driving its inevitable expansion. This work is intended to broaden understanding of the diverse investment vehicles presently available, as well as to analyze how these trends might play out for different types of investors—and the future of financial asset management as a field.
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The 21st Century Foundation: Building Upon the Past, Creating for the Future

April 20, 2004

by Jed Emerson
A ten-page memo on foundation strategy released in early 2004, this paper draws together a variety of themes explored in other, longer papers. Emerson presents what critical aspects of 21st Century philanthropy might entail and argues that there are six core elements of the truly 21st Century Foundation: Asset Alignment; Strategic Grantmaking Practice; Engagement, Transparency, Accountability to Stakeholders; Development and Dissemination of Intellectual Capital; Engagement in Education, Policy Development and Advocacy; and Leverage of Environmental Value.
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Where Money Meets Mission

May 17, 2004

by Jed Emerson (Stanford Social Innovation Review, Summer 2003)
Published in the Stanford Social Innovation Review, in this article Jed Emerson discusses the importance of bridging the social and financial investment gaps most foundations function within. Emerson states, "The goal for all foundations should be to bridge this gap, creating the largest set of overall returns possible—financial, social and environmental—to maximize total value and total returns on investment."
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A New World Order

June 02, 2004

by Jon Gertner (Money magazine, October 2002)
This article features Jed Emerson and the "blended value" proposition.
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Outcome Thinking: Characteristics and Applications in a Changing Landscape

May 3, 2004

by R. Penna and Jed Emerson
This paper, the second in a series, explores the essential concepts, terms and parameters of Outcome Thinking, as applied to nonprofit, governmental and philanthropic organizations. The authors' previous paper, Outcome Thinking: Roots and Meanings, traced the development of today's outcome-based models to origins in early management and evaluation theory. Forthcoming papers will discuss challenges to the application of outcome thinking to governmental and nonprofit organizations, and will offer insights into the future of the outcome discipline.
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Reflections on Philanthropic Effectiveness

May 3, 2004

by Jed Emerson
This article is based on comments, thoughts and ideas of over 35 foundation representatives brought together in Heidelberg, Germany, by the Bertelsmann Foundation and the International Network on Strategic Philanthropy. (However, it is not a formal document of either organization.) It is a reflection of how some of those involved in philanthropy approach a question that is viewed with increasing importance, namely: How should we best pursue efforts to maximize the effectiveness of philanthropy?
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Money Matters: The Structure, Operations and Challenges of Nonprofit Funding

May 3, 2004

by Jed Emerson and P. Carttar
This paper is based on analysis of various sources of data pertaining to the financial status and capital flows of nonprofit organizations in the United States. It presents the results of the initial phase of a multi-phase project exploring the structure and function of the market for nonprofit funding. The paper argues that instead of funding organizations based upon domain (ie. the general programmatic area of nonprofits, such as education or the environment), we should provide capital to them based upon the developmental stage and actual activities (advocacy, program/service delivery, land/real estate asset development, etc.) in which they are engaged.
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Total Foundation Asset Management: Exploring Elements of Engagement Within Philanthropic Practice

April 20, 2004

by Jed Emerson
This essay addresses the question of how we should think about foundation assets, how we as foundation staff should work to engage those assets in the creation of value, and how those concerned with fulfilling the true potential of Philanthropy should view the multiple returns generated as a result of the appropriate allocation of those foundation assets.
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A Capital Idea: Total Foundation Asset Management and The Unified Investment Strategy

April 1, 2004

by Jed Emerson
This paper presents the perspective that the purpose of foundations is not simply to engage in grant making, but rather to invest in the creation of social value. Available foundation assets for supporting this process of social value creation should be viewed as not simply its grant making ability, but its overall investment strategy for both core assets and philanthropic investments. A strategy for achieving maximum social impact—The Unified Investment Strategy—is presented, and the implications of that strategy are explored.
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The Nature of Returns: A Social Capital Markets Inquiry into Elements of Investment and The BVP

April 20, 2004

by Jed Emerson
This paper was written during Emerson's tenure on the faculty of Harvard Business School and is his first exploration into the notion of the Blended Value Proposition. The paper is about as academic as Emerson has the capacity to be (which is an albeit limited capacity) and explores notions of social capital markets, the New Metrics, the links between social and financial value creation and other related areas. The document concludes with a clarion call to re-invent our understanding of the nature of value and the pursuit of multiple returns. Addressing the existing nature of investment and return gives potential insight on central issues, such as: What do we value? How do we track efforts to increase that value? And what is the most effective way to structure capital markets to maximize total, Blended Value?
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The Blended Value Proposition: Integrating Social and Financial Returns

California Management Review, Summer 2003

by Jed Emerson
This article by Jed Emerson discusses BVP, which states that all organizations, whether for-profit or not, create value that consists of economic, social and environmental value components and that investors simultaneously generate all three forms of value though providing capital to organizations.
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Recent Writings

Blended Value Map Papers

Blended Blog

Please see Blended Blog for additional, periodic essays by Jed Emerson with comments from a few of the blog's readers. The Blended Blog explores various aspects of blended value from the perspective of the Colorado Rocky Mountains and is only posted as time permits between travel and other writings...