ESCP Europe Business School

CMC Blog

Posted by Kudzayi Ngwerume @Kudzayi at 9:47 - 0 Comments

The concept of companies adopting and supporting social innovation programs to contribute to the development of society is gaining momentum. At DAVOS 2015 - there was strong sentiment that social innovation from the private sector is important in tackling some of the biggest issues that societies face today. In the age of the concerned and connected consumer̽, companies are shifting from traditional Corporate Social Responsibility (CSR) initiatives, which have often been viewed as one-off PR tactics, to more involved programs for meaningful change.

As the business environment continues to rapidly evolve, value creation is moving from a more linear thinking (Michael Porter) to a more circular approach of co-creation and integration. This would mean that in order to actually have a sustainable impact, companies should move from attached activities of CSR towards integrating social innovation into the mainstream agenda of the business strategy. By doing this, it enables for a more reciprocal approach where companies are co-designing programs that are both good for the community and can maintain or even grow their bottom line. How this is achieved:

On the society end, they stand to benefit from access to resources (human and capital), breakthrough technology and sophisticated distribution networks that government and development organizations sometimes lack ultimately resulting in increased impact.

For companies, working towards socially positive initiatives is not all just an expense. Companies can add value to their business by engaging with communities, government and development organizations around social issues. Through these new partnerships they are able to access new perspectives and expertise that can allow them the opportunity to explore new markets, gather insights, innovate new products and more importantly develop brand image and perception by building trust through shared values.

Below are a couple examples of mutually beneficial corporate social innovation programs:

  1. 1.      5by20 Program (Coca-Cola)

Coca-Cola launched the 5by20 program in more than 40 countries around the world. They are working with a broad base of partners that include governments, NGOs, and civil society. The goal is a global commitment to enable the economic empowerment of 5 million women entrepreneurs across the company's value chain by 2020. Programs focus on empowering women across 6 segments of the company's value chain and include lowering barriers faced by female entrepreneurs. Read more on the program here: #5by20 

  1. 2.      Investing in improving Farmers lives (Unilever, Acumen & Clinton Foundation)

This program is a joint initiative by Acumen, Unilever and the Clinton Foundation.  The program is a three-year, $10-million investment that will nurture and scale agricultural enterprises, which will support smallholder farmers and their communities by linking them to Unilever's global supply chains and distribution networks. Read more Enhanced Livelihoods Investment Initiative

̽ According to the publication of Fifteen For 15 by A.Good.Must.Grow - Consious Consumer Spending Index indicates that nearly 30% of Americans plan on increasing their responsible spending.

Latest comments

There are no comments yet. Be the first to comment this post!


Get Social & Share


Latest from CMC Blog
Most active posts
How to Build a Billion Dollar App - 7 Comments
Posted by Creativity Marketing Centre @Creativitymktg
at 24/06/2015 7:49
Who's creative, who's not? - 3 Comments
Posted by Benjamin Voyer
at 09/11/2012 10:00
‘Growth hacking’, the new marketing trend in startups - 3 Comments
Posted by Vishal Kapadia - @vishkap
at 05/11/2012 15:10
The Vicious Spiral of Consumer Expectations of Creative Brands - 2 Comments
Posted by Benjamin Voyer
at 07/01/2013 12:45
Are retail stores dinosaurs? - 1 Comments
Posted by Minas Kastanakis
at 15/03/2013 10:37
Kristine de Valck, dry chicken, and paintball - 1 Comments
Posted by Tom van Laer - @tvanlaer
at 05/03/2013 16:18
Shakespeare was wrong - 1 Comments
Posted by Peter Stephenson-Wright
at 12/02/2013 13:50
How should companies respond to stories in social media? - 1 Comments
Posted by Tom van Laer - @tvanlaer
at 19/11/2012 11:50
Value as process - 1 Comments
Posted by Vlad Glaveanu
at 16/11/2012 11:31
Latest posts
What is the Secret of Building a Disruptive App? Here’s What You Need to Know
Posted by Creativity Marketing Centre @Creativitymktg
at 08/07/2019 10:24
Everything You Know About AI Is Wrong
Posted by Dr Terence Tse
at 04/07/2019 10:23
The Power of a Strong Concept in Marketing #BIGPICTURE2019
Posted by Laurent François
at 23/05/2019 7:43
Latest comments
On How to Build a Billion Dollar App by Free FIle Hosting

Anything in here will be replaced on browsers that support the canvas element