Start today and finish yesterday—Social innovation as a contribution to the community

Abstract

Abstract“Start today and finish yesterday” wants to emphasize the importance and the potential urgency of social innovation and its positive impacts, since there is a clear impact of social innovation on society and the welfare of individuals, and for that reason, there is a need to gain in‐depth knowledge on the topic. Social innovation can be seen as enhanced forms of action, new ways of doing things, or new social inventions, and by addressing different issues through a social innovation lens, we can expect to contribute to the well‐being and prosperity of the community, potentially leading to a more sustainable and equitable future. The present research aims to understand how the context, market, potential human performance, and competitive advantage strategies, interfere with the process of social innovation and foster the creation of social value for the community. The case study was the method used, with semi‐structured interviews that enabled the comparison of five social innovation projects. Our main conclusions show the importance of contextual factors and the strong presence of the market as important impacts on social projects. Social innovation often stems from the efforts of motivated individuals who strive to bring about change and are willing to take on risks. Evaluating and communicating the social value generated by social innovation projects is vital, but can be difficult to quantify. Finally, the credibility of these projects plays a crucial role in their recognition and competitiveness, and government support through legislation promoting value‐sharing and sustainable development can help legitimize them.