Promise of Social Innovation
Society has failed to solve some of the most pressing issues of our times such as poverty, food security, environmental degradation, and chronic disease. Traditional “do-gooders” are challenged as never before; Non-profit organizations are struggling to make ends meet as they aim to fulfill the needs of more and more beneficiaries with fewer means; Governments faced with growing deficits are disengaging from some of their social commitments; and businesses are under increasing pressure to behave in a socially responsible way.
Social innovation can be defined as new products or services that help meet our society’s most severe challenges. This publication takes a business perspective, examining what role businesses can and should play to address our social problems, how they can foster social innovation, partner with non-profits and public authorities, and help identify and scale-up innovation.