4 Examples Of Corporate Social Innovation

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 provide solutions to systemic social, cultural, economic, and environmental issues.

Through corporate social innovation, organizations set out to find creative, practical, and financially viable solutions. Whether incorporating elements of radical innovation or incremental innovation, corporate social innovation is capable of achieving results for customers, public entities, and organizations alike. Moreover, plenty of companies have made significant impacts by developing innovations that address societal challenges and provide value to both society and businesses.

4 Corporate Social Innovation Examples

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 on- and consumption of energy sources that harm the environment. 

2. Clean water projects

Finding ways to deliver clean water to communities in need is another clear example of corporate social innovation. 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.

3. Digital education projects

Many people take access to education for granted, while countless others face challenges due to financial constraints or geographic barriers.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

Sustainable operations should be genuinely pursued by modern organizations across every sector. Currently, 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.

How Innovation Management Solutions can Aid Corporate Social Innovation

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. This requires organizations to implement an effective innovation management solution, that encourages collaboration and ensures that the right ideas are pursued by innovators. A holistic innovation management solution can help to streamline the process.

1. Enable idea submission

Innovation management platforms provide an alternative to the traditional idea submission box. They create an avenue for organizations to leverage the collective intelligence of their workforce, by enabling employees to submit their ideas.

2. Source, manage and implement ideas

While many organizations do not struggle with the quantity of ideas submitted, often the challenge lies in effectively managing these ideas, discerning which ones hold the most potential and successfully implementing these. An innovation management solution enables innovation leaders to have comprehensive oversight over the innovation process by streamlining various stages and providing a structured framework to ensure that the most valuable ideas are identified and brought to fruition.

3. Track progress

An important aspect of realizing the value of corporate social innovations, also lies in measuring the social and financial impacts these innovations have over time. An innovation management software helps to take care of the financial aspect by providing the necessary features to track relevant progress metrics.

Balancing business success with societal well-being along all different aspects, is no easy task. On the contrary, engaging in meaningful corporate social innovation efforts carries its own challenges since it means navigating the intersection of societal demands and the pressures of business. When done right however, it can spark revolutionary ideas and innovations that, cliché as it may sound, have the power to truly change the world for the better.