Entrepreneurial co‐creation: societal impact through open innovation

Abstract

New open innovation initiatives, such as accelerators, living labs, social innovation labs andopen labs, involve for-profit and not-for-profit actors working closely together to co-create both business value and societal impacts. However, there is a lack of theoretical underpinning to understand how and why co-creation by actors generate different types of social value in the concurrent pursuit of business and social value. Adopting an inductive case study approach, we find that different types of entrepreneurs who co-exploit co-identify opportunities for co-creation, generate potentially competing social and business values. We develop four propositions relating to how and why profit orientation and key resource contributions of entrepreneurs co-identifying an opportunity to co-create decide the nature of social value generated. We discuss avenues for future research and practical implications, underlying the importance of developing entrepreneurialism as ways to generate different social impacts through open innovation approaches, such as co-creation.

CSR and Innovation: Two Sides of the Same Coin

“…Investing in generic social issues with no dynamic effects and which are neither significantly influenced by the enterprise's operations nor affect its long-term competitiveness is a waste of corporate wealth. De Silva and Wright [39] indicated that strategic philanthropy is most often associated with open innovation. Accordingly, profit companies are likely to collaborate and co-create value with non-profit organizations through open innovation approaches.…”

Addressing societal challenges through the simultaneous generation of social and business values: A conceptual framework for science-based co-creation

“…The literature has clearly highlighted the difficulties associated with the simultaneous achievement of social and business goals, since actors have to bridge potentially conflicting aims and divergent stakeholder interests (Pache and Santos 2013;Ebrahim et al 2014). Yet, at the individual level, close and tight interactions could address this challenge (De Silva et al 2019). These individuals might be from different organisations, including those with both for-profit and not-forprofit motives.…”

“…The involvement of multiple partners who co-create shared value may give rise to intellectual property (IP) issues. Whether a clear IP strategy for co-creation would be critical depends upon the stage of co-creation, the types of actors involved in the initiative and the type of objectives (De Silva and Wright 2019). Arranging IP agreements in advance, however, is a sensitive issue, and should thus be devoted careful consideration.…”

O Valor Social Gerado Por Empresas Sociais: Reflexões a Partir De Uma Meta-Síntese

“…O primeiro elemento, engajamento dos stakeholders, se mostrou importante nos estudos de casos investigados por demonstrar a relevância de atores internos e externos próximos à organização no processo de criação de valor social (Silva & Wright, 2019). Evidências sugerem que quanto maior a aproximação desses atores, seja para formação de redes, cluters, parcerias, contatos, colaborações, alianças e cooperações, maior é a possibilidade de alcançar seus objetivos sociais (Collazzo-Yelpo & Kubelka, 2019;Kolk & Lenfant, 2015).…”