What Makes Companies More Fertile for Social Innovation?

In this article, Jerry Davis and Chris White explore what makes some companies more fertile for social innovation — that is, the ongoing (rather than one-off) initiatives that have positive social impact while promoting the core mission of a business.

Factors that Correlate with Stronger Social Initiatives

While there are some factors that make social innovation more likely than not, Davis and White find that competing for talent, strong brands, and leadership transitions all correlate with stronger social initiatives.

Human Capital-Intensive Industries and Social Innovation

In the course of our research, we have found that some human capital-intensive industries are more inherently receptive to social innovation than others. Accounting and consulting firms are often highly responsive to the social demands of their employees.

For example, interns at PricewaterhouseCoopers championed a social audit practice. We also found that the professionals we spoke with at Accenture, in offices on three continents, consistently lauded the firm for its willingness to support innovations, from Accenture Development Partnerships to professional programs for First Peoples in Canada and support for call centers in native communities.

This fits with the idea that much innovation is driven by a war for talent. Businesses that require professionals with skills in high demand are virtually required to embrace the preferences of the next generation.

The Power of Intrapreneurs

While there are some factors that make social innovation more likely than not, Davis and White find that intrapreneurs who will champion them are a key factor in driving social innovation.

Conclusion

In conclusion, companies that are more fertile for social innovation are those that are willing to support the social demands of their employees, have strong brands, and are in industries that require professionals with high-demand skills. By embracing these factors, businesses can drive ongoing social initiatives that promote their core mission and have a positive impact on society.

Frequently Asked Questions

Q: What makes a company more fertile for social innovation?

A: Companies that are more fertile for social innovation are those that are willing to support the social demands of their employees, have strong brands, and are in industries that require professionals with high-demand skills.

Q: What is social innovation?

A: Social innovation refers to the ongoing (rather than one-off) initiatives that have positive social impact while promoting the core mission of a business.

Q: What role do intrapreneurs play in social innovation?

A: Intrapreneurs who will champion social innovations are a key factor in driving social innovation.