Corporations are under increasing pressure to
serve social purposes beyond maximizing shareholder value. One of the best
resources for businesses seeking to affect social change meaningfully is
through working with, learning from, and partnering with nonprofits. Different approaches
have been emerging for nonprofits to inform and support the interests of
for-profit businesses in the area of corporate social responsibility (CSR). In
particular, collective impact (CI) and its implications for corporate partners;
increasing positive community engagement through progressive hiring practices
instituted by non-profit organizations (NPOs); fostering innovation within an
organizational setting through NPO collaboration; and exploring a hybrid model
of non-profit/for-profit business, with an examination of the advantages and
disadvantages thereof. In this paper, we review these unique approaches to show
how for-profits can learn from nonprofits and <i>vice versa </i>when it comes to social innovation and corporate social
responsibility.