Social innovation
Social innovation
Activities and services that are motivated by the goal of meeting a social need, diffused through organisations, individuals and enterprises whose primary purposes are social and where profit is re-invested. This is distinguished from innovation in business, which is generally motivated by profit maximisation and so diffused by organisations that seek profit as their main purpose (Mulgan, 2006). Social innovation has a cultural basis, emphasising the importance of ideas and a vision of how things could be different and better. Social innovation occurs to meet unmet human and societal needs whereas business innovation is market and consumer driven (Elliot, 2006).
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