It’s a new approach to creating value in global markets.
Social value is the new global currency, rewarding innovations and enterprises that address broadly recognized social needs. Organizations create social value by adopting business models and strategies that reflect the shared values and concerns of the stakeholders in their network, and authentically express these values at every layer of the enterprise. The result is a new, sustainable blend of social and financial return whose benefits extend throughout the entire network.
Social innovation is the process of creating social value by tapping the power of digital networks to organize “global tribes” or virtual communities of stakeholders around a core set of shared values. Through “shaping strategies” that unlock stakeholder passion and engagement, organizations can successfully launch, gain scale, accelerate their impact, and extend their reach beyond the four walls of the enterprise.
richmedium assists its clients to design and implement strategic frameworks for social innovation that are “built to last” in global markets.
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