GOING BEYOND CORPORATE SOCIAL RESPONSIBILITY: THE CRITICAL FACTORS OF CORPORATE SOCIAL INNOVATION—AN EMPIRICAL STUDY
ABSTRACT: Corporations are
continually looking for new sources of innovation. Innovation is a new way of
doing things that is commercialized. The process of innovation can-not be
separated from a firm’s strategic and competitive context. Today several
leading companies are beginning to find inspiration in an unexpected place: the
social sector. That includes natural disaster recovery programs, welfare-to-work
programs, and public education development program. Indeed, a new paradigm for
innovation is emerging: a partnership between private enterprise and public
interest that produces profitable and sustainable change for both sides—successful
private public partnerships or corporate social innovation. The development of
strategic innovation through corporate social innovation has grown in importance
in recent years. This study examines the critical factors which facilitate the
corporate social innovation for developing strategic innovation in banking organizations.
The factor analysis of data emphasizes the importance of external innovation
aspects, internal innovation aspects, accountability innovation, and citizenship
innovation in strategic innovation initiatives; and offers support to the
growing literature arguing for a greater consideration of the human dimension
in corporate social innovation implementation program. It is proposed that
further research needs to be carried out to examine managerial attitudes
towards the implementation process of corporate social innovation and to assess
some of the practical issues involved in developing strategic innovation in
banking organizations.
Keywords: corporate social innovation,
corporate social responsibility, strategic innovation
Penulis: Dwi Astuti Ningsih
dan Wakhid Slamet Ciptono
Kode Jurnal: jpmanajemendd070025
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