4 Examples Of Corporate Social Innovation
Research shows that modern consumers are more demanding than ever before, and only truly innovative brands can meet those expectations. Social innovation is one of the most effective ways to satisfy those demands for organizations to help build a better future for society. Better still, an emphasis on the social sector can simultaneously unlock long-term profits.
While innovation management software, innovation operating systems and other techniques and methods can facilitate corporate social innovation, the success is also dependent on understanding the concept and how it can be utilized.
What is corporate social innovation?
Corporate social innovation is a concept that was introduced towards the beginning of the 2000s and focuses on the development of strategic alliances between companies and the social sector. Through advanced tech and processes, this type of innovation aims to solve systemic social, cultural, economic, and environmental issues.
It sets out to find creative, practical, and financially viable solutions. Whether incorporating elements of radical innovation or incremental innovation, it is capable of achieving incredible results for consumers, governments, and organizations alike. Moreover, plenty of companies have made significant impacts through corporate social innovations.
4 examples of corporate social innovation
1. Sustainable energy projects
Energizing society, particularly through efficient and cleaner energy sources, is an ongoing issue in both developed and developing nations. One example of corporate social innovation in this field comes courtesy of an emergency power generator that uses sustainable hydrogen as fuel. Developed by an Innovator from RUAG as part of the inhouse KICKBOX program, the innovation reduces the reliance and consumption of energy sources that harm the environment.
Sustainable energy projects can be seen in all industries. Another example, is that of an employee from LGT Private Banking, who initiated the Functional Gym project that reduces CO2 emissions while also enhancing employee wellness.
2. Clean water projects
Finding ways to deliver clean water to communities in need is another clear example of corporate social innovations. Engineering experts at Princeton created solar-powered gel filters to treat and create clean drinking water. Other examples of social innovations in this field include wastewater treatments, nanotube tech, and photocatalytic purification. Meanwhile, innovations that actively increase access to water through transporting water or harvesting water are ideal too.
Elsewhere, WiSort uses trained Machine Learning models for the recognition and sorting of municipal solid waste.
3. Digital education projects
Access to education is something millions take for granted, but millions of others struggle to achieve either due to a lack of money or geographic issues. The ability to connect students through online communication and advanced technology has opened the door to several corporate social innovations. Augmented Reality (AR) and Virtual Reality (VR) are just two examples of modern technologies capable of breaking through the barriers to accessibility or engagement in education.
Companies like Blippar have subsequently been able to empower future generations through powerful virtual learning programs.
4. Sustainability projects
Going green matters to companies like never before, which is why organizations across multiple sectors now embrace it. After all, 65% of high-growth organizations plan to collaborate with their customers, and eco-friendly practices rank high on the agenda. For instance, the renowned sports brand Puma initiated its Environment Profit & Loss (P&L) strategy back in 2011. Since then, Puma has prioritized developing innovative solutions that not only promote sustainability but also minimize their impact on the environment. The firm even made its methods open-source.
Sustainability innovations can be introduced to virtually any business sector including real estate, manufacturing, and SaaS.
Focus on corporate social innovation with KICKBOX
When thinking about corporate social innovation, it's crucial to approach it from all angles in order to uncover groundbreaking ideas that have the power to truly make a difference in the world. And to effectively manage and implement these innovative ideas, having the best innovation management system in place is essential. This is where our flagship KICKBOX program comes in.
If you're looking for the right tool to take your corporate social innovation efforts to the next level, consider leveraging the power of KICKBOX to unlock a world of possibilities and drive meaningful progress in your organization and beyond. Reach out to us and become a catalyst for positive change in the world.
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