Social innovation
Social innovation is the process of developing and implementing new ideas, products, services or models that address social, cultural and environmental challenges whilst creating positive social impact.
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In this lesson
- 0:00 Understanding social innovation
- 0:26 How social innovation differs from traditional innovation
- 1:01 Examples of social innovation in practice
About this lesson
In this lesson, you'll learn how social innovation differs from traditional innovation—it prioritises societal problems and community wellbeing alongside business outcomes, rather than focusing primarily on financial returns. You'll explore practical examples including social enterprises, renewable energy solutions, digital inclusion initiatives, community-based healthcare and waste management programmes, and understand how to empower individuals and communities by involving them in developing solutions. This concept is essential for understanding how modern organisations balance purpose with profit, particularly relevant to strategic and management modules where stakeholder impact and sustainable business practices are increasingly examined.
Duration: 2m
Transcript
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