Social Innovation to Drive Corporate Sustainability

The concept of Social Innovation seems to be omnipresent in today’s corporate discussions, but deeper reflections indicate that there are significant differences in the way Social Innovation is understood and implemented. While some see it as the next big thing after CSR or CSR 3.0, for others it is simply a new term for CSR. As with most new concepts, this unclear understanding might ultimately hinder the development of a concept that, if applied seriously, might have a significant contribution to improve the way we collaborate, innovate, and ultimately have a positive impact on the world. Even when the concept is fully embraced, it can often be detected that there is a focus on only the invention, without paying too much attention to the process leading to this result and the societal and business impact. In order to advance Social Innovation concepts, basic and proven principles from the Innovation Management need to be taken into account, in addition to the needed but often overrated focus on just the big idea to solve major problems.