Innovating for Shared Value
Marc Pfitzer, Valerie Bockstette, Mike Stamp, Angela Barmettler
Too often, well-intentioned efforts by corporations to engage in social innovation result in fledgling pilots at the periphery of the core business. To help more companies get from well-meaning pilots to social innovation and business results at scale, this article showcases the five practices of over two dozen corporations who have overcome barriers to social innovation: (1) Embedding a Social Purpose, (2) Defining the Social Need, (3) Measuring Shared Value, (4) Creating the Optimal Innovation Structure, and (5) Co-Creating with External Stakeholders. Published in the Harvard Business Review, September 2013.
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