Social Innovation and its Return on Investment to Promote Change. How to Promote Projects with Social Impact
Keywords:
social innovation, social return of investment, change theory, projects, social impactSynopsis
The topic of social innovation continues to be a concept that is updated every day worldwide, given the different approaches with which it is approached, such as political and environmental. The above allows us to visualize that social innovation is projected as a transcendental activity that directly impacts sustainability for the coming decades in our country. However, for those who apply the best-known innovations, such as products and services, marketing, processes, technology, organizational, and business models, their common denominator is measuring the implementation of each of them, based directly on its financial impact.
This has caused imbalances to be generated in terms of social well-being since although innovations have represented economic benefits to the public and private companies that apply them, it does not mean that societies necessarily improve their levels of quality. expected life and well-being. Thus, it is necessary to associate the aforementioned innovations around a concept that makes them convergent to translate them into social innovations and thus determine the well-being generated, that is its social impact.
However, a question arises: how to measure it to be in a position to control it? Given that social innovation and social impact are emerging concepts, this work is presented as relevant in the current era. It offers a valuable contribution to non-specialized readers by establishing the foundations of social innovation and the methodologies for its measurement. The highlight lies in its approach to conducting impact measurements by monetizing social impact.
This is achieved by linking it with the social return on investment of projects, both public and private, that will set the standard in the 21st century.
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