Three key dimensions must be considered when assessing social innovation in corporates, according to me. The impact the innovation will have on those it is intended to benefit should be the first factor. It is important to analyze how the innovation directly benefits those who it was designed for, as well as any long-term advantages or disadvantages. In the second area, we look at the long-term sustainability of the initiative. In order to assess the sustainability of a project, it is important to consider whether there are enough resources for the innovation and viable scaling-up strategies if needed.
This third aspect is about equity. Does the initiative encourage equality for different groups? It’s important to analyze which populations benefit from this project and whether or not marginalized communities have access to it. Also, it is important to consider whether there are disparities in who benefits more from corporate social innovations. Taking these three dimensions into account can help determine if an organization’s efforts truly foster positive change in their community or merely present a public relations front. Consideration of all elements in a social corporate initiative can lead to meaningful solutions with lasting effects on the society.