June 11, 2020
Bacon Bits: Social Innovation
Source: Indianapolis Recorder | Repost Fight for Life Foundation 6/11/2020 –
Last week’s Bacon Bits talked about the innate creativity and ingenuity that Black people possess. This week, we will talk about how creativity and ingenuity impact social innovation.
Social innovation is the process of developing and deploying effective solutions to challenge systemic and environmental issues in support of social/economic upward mobility. Two aspects of social innovation are described as sustainable and disruptive.
Sustainable innovation improves existing products. It does not create new markets but develops existing ones with better value. For instance, when organizations expand their marketing efforts to include additional modalities, like social media, to help improve effectiveness.
Disruptive innovation is an idea that significantly affects the way a market or industry functions. An example of modern disruptive innovation is the internet, which significantly altered the way companies do business, and furthermore, negatively impacted companies that were unwilling to adopt it.