Investing in social impact networks can spur innovation and change- social impact networks and innovators are using the best of collective human capital to address pressing issues. These small networks are often not recognised for the crucial work they offer to individuals and the community and these social networks could be nurtured to work together to address some of the most complex problems facing our world.
There is a big consumer pressure growing for businesses to become good global citizens, small enterprises with social purpose can have a strong influence on the big businesses, large corporations have much to gain from creating an enabling environment that allows innovation to develop and excel - Businesses are feeling the pressure to set new commitments for operating in ways that respect human rights promote environmental sustainability and increase social impact, but they face an enormous set of challenges to get there.
Corporate business communities have never been more ready to accept it and social enterprises can seize this moment to help shape a new business plan to “build back better”.
Big businesses have reached a stage where they want to meet sustainable and social initiatives but are often paralysed by how to accomplish these goals.
Social entrepreneurs can offer a guiding light and these change makers are teaming up with like minded corporations to increase their impact and influence. Collaboration will help both corporate companies and social entrepreneurs because small businesses are short on resources but big on innovation and they can help these bigger companies find better solutions and more creative initiatives to make their company better.
- Making it beneficial for all parties - cooperation's and social enterprises can work together and team up to achieve both business and social impact goals
These social enterprises are looking at problems from different perspectives and better outcomes are being achieved collectively by the network= organisations and funders have started to invest more resources to nurture the networks.
Social enterprises are changing the global economy in two very important ways= directly addressing difficult social and environmental challenges and influencing broader business communities to act responsibly.
Social enterprises are designed with social and environmental purposes are their core and are well placed to provide concrete evidence or progress on key corporate social and environmental indicators - The power of social entrepreneurs to drive innovation and change to solve business challenges and integrate social businesses into corporate supply chains will be life changing as the world urgently needs a new approach
Statistics to show that this new collaboration is really brining change to our society, CEOs who don't take advantage of social entrepreneurship are leaving massive opportunities on the table it is found that social entrepreneurship has the power to radically change the DNA of a company
- Improves employee engagement job satisfaction employee skills or talent attraction 77%
- Leads to mindset shifts culture change or even kicks off corporate transformation 61%
- Spurs Business Innovation 50%
- Reaches new markets or new customers 39%
The path to change won't be easy but we have an opportunity to demonstrate how large companies can work for the societies they serve- only the most future looking companies that are willing to innovate and adapt will survive.
Unless we change our ways and fast this will continue to get worse ,change is hard and we are sticking our old ways and it's getting us nowhere fast, We know in our bones that it is time to change and that time is running out.
Tx
All the below points were the main findings and the points (which got me most interested and thinking the most) from a mixture of articles from world economic forum = I will attach a link to this website if you would like to give it a read and find out more about these really interesting topic, I found the ones with the themes around social innovation most insightful. https://www.weforum.org/agenda/2021/01/social-enterprises-can-have-a-big-impact/.
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