"A novel solution to a social problem that is more effective, sustainable, or just than existing solutions and for which the value created accrues primarily to society as a whole rather than private individuals"

"The term is used to describe a broad range of organisational and inter-organizational activity that is ostensibly designed to address the most deep-rooted problems of society"

"Refers to innovations that have been made with the explicit intention of finding solutions for current social problems or future challenges"

Both involve a social or environmental commitment, but CSR’s commitment is only peripheral to other business activities, while the core activity of social innovation is focused on its social and environmental commitment

Inclusive business models specifically target inclusive growth and economic participation, whereas social innovation has a broader focus on solving diverse social or environmental challenges

Both concepts aim to address the needs and challenges faced by the low-income population, but BoP focuses on market-based approaches while social innovation may involve non-market-based solutions not necessarily tied to profit-making

Corporate social innovation is specific to the innovation efforts within a corporate setting, whereas
social innovation includes innovations at various levels and from different settings

Criteria to be considered an innovation:

1. Novelty: need not necessarily be original, they must be new to the user, context to application
2. Improvement: a process or outcome must be either more effective or more efficient than preexisting alternatives

Difference between entrepreneurs and social entrepreneurs: Ascribed simply to MOTIVATION - entrepreneurs: money, social e: driven by altruism

• Social innovations are usually new combinations of hybrids of existing elements
• Cutting across organizational, sectoral or disciplinary boundaries
• Building compelling new social relationships (importance of intermediaries)

• Affect large populations: impacts extend beyond the boundaries of a single organisation/community
• Significantly and adversely affect human well-fare and well-being
• Seemingly intractable, resisting any fixes

Problems cut across jurisdictional boundaries, implicate multiple criteria of worth, and can reveal new concerns even as they are being tackled.
Their definition, stakes, and consequences are caught up in the process of continual reconfiguration, depending on whom and what becomes associated with them.

Many interactions and associations, and nonlinear dynamics.
Solutions frequently create new problems

Problems and their evolution are difficult to forecast for the actors, who cannot properly identify possible future states of the world.
Many facts are known, but these alone are not sufficient to provide a definite basis for taking action

Stakeholders disagree on both the problem and solution