Social Innovation to Drive Shared Value

Social innovation is becoming a buzzword which is discussed around the world. There’s a surge in attention and government support for social development and social innovation, because it’s seen to be providing effective ways for addressing societal challenges and possible pathways towards more sustainable, inclusive and resilient societies. Today’s global challenges in line with the Sustainable Development Goals – from …

Understanding the concept and value of social innovation

The term social innovation has been used in a number of ways. Some of the earliest references, dating back to the 1960s, use it to refer to experimental research in the social sciences and humanities. Since then, the term has been used in reference to social enterprise and social entrepreneurship, technological innovations which yield social benefits, corporate social responsibility and …

Social capital – its value and how to measure it

The newly revisited concept of social capital is now prominent in several fields of social science. For Next Generation Consultants, the concept became important with the introduction of the integrated reporting framework that requires companies and organisations to report on how their activities either contribute to or diminish capital formation. The International Integrated Reporting Council’s guidance suggests that a company’s …

The value and importance of socio-economic research and baseline studies in social investment and development practices

Definition: Socio-economics is the study of the relationship between economic activity and social life. In many cases, however, socio-economists focus on the social impact of a specific kind of economic change. Such changes might include displacement of people due to a closing factory, village-to-city migration, market manipulation and even the signing of trade treaties, etc. Value: The goal of a socio-economic study …

Social innovation: Contributor and driver of future value and capital

Even today, many development practitioners find it hard to prove the value (and the business case for that matter) that social and community development delivers and contributes to the future sustainability of a business. However, because we have proved through impact assessments that measure both the impact (on beneficiaries and investment portfolios or themes) and return on investment for the …