Social Innovation with Impact. Defining the Path to a Sustainable World

In a constantly evolving world, social innovation has emerged as a transformative force that goes beyond traditional technological and business innovations. However, based on the 17 Sustainable Development Goals promulgated by the United Nations in 2015, it becomes increasingly important for governments to create a master plan that envisions a future not only focused on economic wealth generation but also on sustainability. This sustainability is based on combating inequality, environmental degradation, prosperity, climate change, poverty, peace, and justice, among other relevant issues, reflected as social impact. This perspective requires a broad understanding that addresses current needs, focusing on the approaches and techniques used to evaluate the social impact generated by social innovations in both public and private projects.

Thus, the aim of this work is to demonstrate to academics, students, entrepreneurs, officials, and the general public the importance of conceptualizing social innovation and its relationships, as well as to present the tools available for measuring them. Special emphasis is placed on the social return on investment (SROI), a clear tool that allows projects to measure not only their economic profitability but also their social relevance.

The work is divided into four parts: In the first chapter, we explore the essence of social innovation, outlining its characteristics, definitions, and typologies. From its intersection with the circular economy to its relationship with social entrepreneurship and social responsibility, we examine how social innovation serves as a dynamic platform for addressing complex social challenges and fostering human progress.

The second chapter delves into the crucial task of measuring the impact of social innovation. From the theory of change to social impact management, we explore the methods and tools for evaluating the scope and effectiveness of social innovations. Additionally, we analyze future implications and the various transformative and open approaches that characterize social innovation.

In the third chapter, we turn our attention to sustainable development, a global imperative that demands a holistic and integrated approach. From its conceptual foundations to its challenges and criticisms, we explore how sustainable development interweaves with education, social awareness, and efforts to ensure a harmonious balance between human growth and the planet's limited resources.

Finally, in the fourth chapter, we dive into the concept of Social Return on Investment (SROI), a powerful tool for assessing the social and economic impact of innovative initiatives. From its evolution to its practical applications, we examine the key stages of SROI, its advantages and disadvantages, as well as its relevance for various entities and sectors.

Through practical exercises and reflections, this book invites the reader to actively explore the concepts and principles presented, fostering a deep understanding and effective application of social innovation in the pursuit of a more equitable, sustainable, and prosperous world.

It is hoped that readers will experience a moment of reflection, understanding that current economic activity must be accompanied by a new consciousness and actions that steer towards a positive direction to stop further environmental harm for the benefit of society.