The dimensions of social innovation and the roles of social actors within the context of microcredit

Abstract

Objective: The purpose of this paper is to assess the social innovation arising from the granting of microcredit, as well as the roles played by its social actors. Methodology: An experience survey was carried out with beneficiaries of the Crediamigo microcredit program/BNB, in Fortaleza, Ceará. In the study, we investigate four dimensions of social innovation: (i) typology; (ii) depth; (iii) coverage; and (iv) social actors. Originality and Relevance: The study explores the link between microcredit and social innovation, with evidence from an understudied empirical context. Main Results: The results indicate that the typology is characterized by the implementation of new marketing methods to offer products and services, enabling consumption by people in situations of economic vulnerability. In terms of depth of innovation, the findings show incremental, disruptive, and institutional actions that promote social and economic inclusion with local coverage. As for social actors, we identified three profiles of beneficiaries oriented towards social innovation: “innovators”, “visionaries”, and “conservatives”. Theoretical/methodological contributions: The study expands the understanding of social innovation regarding the reach/impact of microcredit in local and social development. Moreover, we propose three different profiles of social innovation actors, which can serve as a reference for future research. Social/management contributions: The study showed that the social innovation actions carried out by the beneficiaries promote socioeconomic inclusion, allowing the generation of additional jobs, empowerment, and improvement in the quality of life, transcending financial aspects.