{"id":11600,"date":"2021-11-23T10:10:16","date_gmt":"2021-11-23T10:10:16","guid":{"rendered":"https:\/\/www.soil.edu.in\/?p=11600"},"modified":"2026-02-04T18:15:39","modified_gmt":"2026-02-04T12:45:39","slug":"social-innovation-and-mba-making-a-positive-social-impact-in-business","status":"publish","type":"post","link":"https:\/\/soil.edu.in\/blog\/social-innovation-and-mba-making-a-positive-social-impact-in-business\/","title":{"rendered":"Social Innovation and MBA &#8211; Making A Positive Social impact in Business"},"content":{"rendered":"<style>\n.inner-pic {\n    display: none;\n}\n.blog-pic {\n    width: 100%;\n    float: left;\n    text-align: center;\n}\n.blog-pic img {\n    width: 70% !important;\n}\n.new_blog_section p strong {\n    font-family: 'Franklin Gothic Book', arial;\nfont-weight: 900;\n}\n.new_blog_section ul li strong {\n    font-family: 'Franklin Gothic Book', arial;\nfont-weight: 900;\n}\n.new_blog_section p a {\n    color: #008037;\n}\n.text-new {\n    width: 100%;\n    float: left;\n}\n.new_blog_section .new_blog_right_sidebar ol li {\n    background-image: none !important;\n    list-style-type: decimal;\n    display: list-item !important;\n    padding: 0px 0px 15px 10px !important;\n}\n.new_blog_section .new_blog_right_sidebar ol {\n    padding: 0px 0px 0px 40px;\n    margin: 0px 0px 0px 0px;\n}\n.blog_wrapper_full .one_column {\n    padding: 0px 0px 0px 0px;\n    margin: 0px 0px 0px 0px;\n}\n.pic-new {\n    width: 100%;\n    text-align: center;\n}\n.pic-new img {\n    width: 100% !important;\n}\n.new_blog_section h6 a {\n    color: #008037;\n}\n.text-new1 {\n    width: 100%;\n    float: left;\n    font-size: 25px !important;\n    text-align: center;\n\tmargin: 20px 0px 20px 0px !important;\n}\n.new_blog_section .one_column.pb_2 li a {\n    color: #008037;\n}\n.content-new1 {\n    padding-bottom: 0px !important;\n}\n.text-new2 {\n    padding-bottom: 0px !important;\n}\n.text-new4 {\n    width: 100%;\n    float: left;\n    text-align: center;\n}\n<\/style>\n<p class=\"text-new4\">&ldquo;We rise by lifting others.&rdquo;<br \/>\n\u2015Robert G. Ingersoll<\/p>\n<div class=\"blog-pic\">\n<p><img decoding=\"async\" src=\"https:\/\/www.soil.edu.in\/blog\/wp-content\/uploads\/2021\/11\/social-innovation-and-mba-making-a-positive-social-impact-in-business.jpg\" alt=\"Social Innovation and MBA \u2013 Making A Positive Social impact in Business\" title=\"Social Innovation and MBA \u2013 Making A Positive Social impact in Business\"><\/p>\n<\/div>\n<h6>Creating Economic Value<\/h6>\n<p>The concept of economic value is undergoing a change as the business  world has started to realise the value of making a social impact. Social Impact  is now no longer a niche practice and needs to be ingrained into business ethos, end to end. The corporate world is now trying  to create economic value and leave a positive social footprint at the same  time.<\/p>\n<p>The millennial generation is also coming to terms with the fact that  making a social impact is now an integral part of business. This generation now  looks to fulfill more than just the emoluments.<\/p>\n<p>As businesses try to create economic value and contribute to society, MBA courses are increasingly focused on  sustainability and social impact. With more people becoming aware of the role business plays in  societal development, there is a desire among many of today&rsquo;s graduates to find  a career that will have a genuine social and environmental impact.<\/p>\n<p><strong>Late Pamela  Hartigan<\/strong>, former director of the Skoll Centre for  Social Entrepreneurship observed that &ldquo;Unlike older generations, they (graduates) don&rsquo;t want to  wait until they&rsquo;re 50 to give back. They want to start now. They want to do  away with that traditional fragmentation that has separated where we make money  and where we do good.&rdquo;<\/p>\n<p>Businesses now  operate with an ethos that is socially conscious and still realize their goals  of long-term profitability and growth.<\/p>\n<h6>What Is Social Innovation<\/h6>\n<p class=\"text-new2\"><strong>&ldquo;<\/strong>Social innovation is the process of  developing and deploying effective solutions to challenge systemic social and  environmental issues in support of social progress.<\/p>\n<p>~ Sarah A. Soule, Neil Malhotra, Bernadette Clavier<\/p>\n<p>Thus,  Social innovation in a broad sense would include new products\/ services, or new  social practices with the objective of meeting new or previously neglected  needs and wants of the society.<\/p>\n<p>In  an inequitable but interconnected and interdependent world, societal problems  tend to transcend borders. The disparity amongst countries in economic  progress, financial stability, hunger, war\/ strife and disease have a way to  affect beyond borders. Hence, it becomes important to address them and develop  innovative solutions that act as a positive for society. And, herein lies the  opportunity for business. While more than&nbsp;80% of economic growth&nbsp;is derived through  innovative approaches and new knowledge areas, the underlying approach has to  be inclusive rather than exclusive to society needs.<\/p>\n<p>The  social innovation process is derived through an amalgam of interpersonal  relations, morality, and creativity that looks to move away from routine to the  path-breaking. Social innovators tend to think of innovative ideas and create  pathways that are constructed socially. The intended outcome is tackling social  issues, and in that sense, value creation is an outcome of social innovation.<\/p>\n<h6>Management Education with A Difference &#8211; Driving Value  Through Social Innovation<\/h6>\n<p>Organizations and leaders are increasingly looking at making an impact  on society. Management practitioners are also increasingly looking to integrate  their core business knowledge with social entrepreneurship. For a process, product or  service to be considered social innovation in business, the new process should  bring something new to the user and should create social value.<\/p>\n<p>An example of this approach  is brought out through an innovative initiative by Novartis, a global  pharmaceutical company. This health initiative, &ldquo;<strong>Arogya Parivar<\/strong>&rdquo; looks to create equitable access to people living  below the poverty line in India. This innovation uses a combination of health  education and providing a set of affordable medicines targeted towards this  segment. Long term success is ensured through education and capacity building  measures for marginalized communities.<\/p>\n<p>Some of the ways social impact and innovation can help the managers to  bridge the gap between society and profit are &#8211;<\/p>\n<ul class=\"one_column pb_2\">\n<li>Creation of inspirational messages that align with the core  business activities of the organization.<\/li>\n<li>Innovation that is bred through partnerships\/ co-creation.<\/li>\n<li>Ingrain sustainability \/ social outlook in the core business  or its ancillary activities.<\/li>\n<li>Have an inclusive approach where management, employees,  customers and civil society participate in the process.<\/li>\n<li>The business itself should be ready to commit capital and infrastructure  to the process.<\/li>\n<\/ul>\n<p>The long-term benefits of social innovation create an  impact by&rdquo;<\/p>\n<ul class=\"one_column pb_2\">\n<li>Helping management in internal  transformation of organizations.<\/li>\n<li>Governments can also synergize public and private worlds  through societal change.<\/li>\n<li>Help managers \/ entrepreneurs to look at social ventures and  leverage business for the benefit of society.<\/li>\n<li>Create skilled advocates for social and environmental issues.<\/li>\n<\/ul>\n<p>B schools, through their MBA  courses, are looking at social innovation as  part of the curriculum. As evolved students opt for MBA  courses that cater to social impact, the time is  ripe for building a human centric approach to business, one that breeds  innovation and <a href=\"https:\/\/www.soil.edu.in\/soils-one-year-mba-program-on-global-leadership\/\">prepares new age managers to look at business with a  different perspective<\/a>.<\/p>\n<p>Social impact through innovation is a key element of the new age MBA experience. As students look at the  future, they look at a responsible economy, impartial society and sustainable  future. MBAs are looking at social impact and  social entrepreneurship driven by the innovation in an effort to create real  change and challenging status-quo.<\/p>\n<p>MBA courses with the social impact pathway are  designed for students who want to create positive social change in their  careers. The pedagogy is designed to teach the student to define social value;  creation and implementation of strategies to effect change; social change  through business, government and not for profit; and to anticipate and mitigate  conflicts at all levels.<\/p>\n<p>An <a href=\"https:\/\/www.soil.edu.in\/some-useful-reasons-to-opt-for-the-soil-one-year-mba-program\/\">important part of <\/a>the MBA experience is that they recognise that social change may come through diverse  professional tracks. Focus on core business skills is, thus, also an integral  part of the MBA.<\/p>\n<h6>Developing Managers Who Are Socially Responsible<\/h6>\n<p>SOIL Institute of Management,  through its unique PGPM  programs looks to impart social responsibility in its students. <a href=\"https:\/\/www.soil.edu.in\/about\/social-innovation-program\">The <\/a><a href=\"https:\/\/www.soil.edu.in\/about\/social-innovation-program\">PGPM<\/a><a href=\"https:\/\/www.soil.edu.in\/about\/social-innovation-program\"> offered by SOIL has the  Social Innovation Programme<\/a> as an integral part of its curriculum. The students  are led to engage with issues that can contribute to society. These change  agents imbibe a host of traits like Empathy, Compassion, Mindfulness and develop  a human centric approach to business.<\/p>\n<p>SOIL&rsquo;s academic curriculum enables the most&nbsp;<a href=\"https:\/\/www.soil.edu.in\/pgpm-business-leadership\/experiential-learning\">transformative Leadership  experience<\/a>&nbsp;wherein the students get an opportunity to explore and discover  their true potential and become leaders who desire to change the world for the  greater good.<\/p>\n<p><a href=\"https:\/\/www.soil.edu.in\/\">SOIL Institute of Management<\/a>&rsquo;s one year MBA course  \u2013&nbsp;<a href=\"https:\/\/www.soil.edu.in\/leadership-dynamics-with-mba-in-business-leadership\/\">PGPM<\/a><a href=\"https:\/\/www.soil.edu.in\/leadership-dynamics-with-mba-in-business-leadership\/\"> training will equip students with the skills to become  the best leaders<\/a>&nbsp;in the new Emerging India.<\/p>\n<h6>The final take<\/h6>\n<p>There is no single recipe for integrating purpose into your MBA. However, the impact one can make in the  world is a good starting point. Besides, it is clear that stakeholders are  increasingly demanding that businesses take social concerns seriously and  integrate them into their business models. Managers that are able to  successfully reorient around purpose stand to attract higher recognition,  longevity thereby giving them greater satisfaction and a fruitful career. Take  a jump, look at SOIL one year MBA &#8211; PGPM, one of the best MBA courses in demand that <a href=\"https:\/\/www.soil.edu.in\/reasons-to-enrol-in-leadership-training-program\">provides an insight into what is required for impact  through social change<\/a>.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>&ldquo;We rise by lifting others.&rdquo; \u2015Robert G. Ingersoll Creating Economic Value The concept of economic value is undergoing a change as the business world has started to realise the value of making a social impact. Social Impact is now no longer a niche practice and needs to be ingrained into business ethos, end to end. &hellip; <a href=\"https:\/\/soil.edu.in\/blog\/social-innovation-and-mba-making-a-positive-social-impact-in-business\/\" class=\"more-link\">Continue reading<span class=\"screen-reader-text\"> &#8220;Social Innovation and MBA &#8211; Making A Positive Social impact in Business&#8221;<\/span><\/a><\/p>\n","protected":false},"author":2,"featured_media":11651,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1],"tags":[],"posts_by":[],"audience":[],"industry":[],"faq":[],"class_list":["post-11600","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-uncategorized"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v25.8 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Social innovation &amp; MBA - A Positive Social Impact In Business<\/title>\n<meta name=\"description\" content=\"The best MBA colleges in India - SOIL Institute of Management explains how social innovation and MBA courses are making a positive social impact in business.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/soil.edu.in\/blog\/social-innovation-and-mba-making-a-positive-social-impact-in-business\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Social innovation &amp; 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