Creating Social Value

For the economic value of a company to improve, social value is important. Pioneering intrapreneurs such as Dave Stangis at Campbell Soup Company and john Viera at ford have taught the world important lessons about how to encourage social innovation and create social value. From my observation, the following lessons are important for social entrepreneurship.

1. Design is important in social value creation

The design is an important aspect of social innovation because it helps the innovators apply their vision. Therefore, a social enterprise should have its own design –whether it is a new business, a new product, or a shift in their sourcing and practice,

3. Developing infrastructure is part of social value creation

To enter new markets, organizations need to develop the necessary infrastructure. For instance, a company may decide to promote infrastructure around water and health or assist with the construction of airports

4. Social value creation involves training

Social value creation needs training. Whether a business wants to prepare employees or to raise awareness within a sector, social value creation demands training to allow for change. Almost all social enterprises invest heavily in training.

6. Accessibility is part of social value creation

To create social value, innovators need to come up with ways of bringing the marginalized into the business model. For instance, Verizon is making mobile devices accessible to individuals with disabilities.

References

http://www.csrwire.com/blog/posts/1270-8-ways-to-create-social-value-lessons-from-verizon-campbell-soup-ford-roshan-more

http://hbswk.hbs.edu/item/how-organizations-create-social-value

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