Social goals versus business necessity: The nature and determinants of innovation in nancial inclusion
Affiliation
University of Salford; University of HuddersfieldPublication Date
2021-11-05
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PURPOSE: This study aims to explore the extent to which social innovation is prioritised among a sample of organisations promoting nancial inclusion through the provision of a ordable credit, advice and nancial education. Additionally, we seek to understand the nature of the adopted innovation process and how this is perceived as in uencing social change (if at all). METHODOLOGY: This exploratory study uses a combination of qualitative, semistructured, face-to-face interviews with 35 managers in 29 di erent organisations and three focus groups with 16 practitioners and stakeholders. FINDINGS: Innovation processes are in the main, largely incremental as opposed to radical with organisations focusing on process-led innovations. More notably, most organisations found that they often lacked the required social capital capacity, economic and technological resources and the necessary skills to develop, implement and capitalise on innovations, thus limiting the more radical forms of innovations. IMPLICATIONS: To enhance the capacity of smaller organisations promoting nancial inclusion, there is significant potential to engage in more open, co-creational projects/partnerships to deliver greater social impact to vulnerable populations. CONTRIBUTION: We contribute to the under-researched literature on social innovation by highlighting the extent to which social innovation is given precedence within the sector promoting nancial inclusion. Given the contextual and organisational diversity of the sector, highlighting these behavioural practices and circumstances, enable researchers to theoretically advance social innovation theory further and provide more practice-based guidance for organisations to successfully shape social change.Citation
Vik, P., McEachern, M. G., Curtis, J., Kane, K., & Dayson, K. (2023). Social goals versus business necessity: The nature and determinants of innovation in financial inclusion. Social Business, 11, 1-21. https://doi.org/10.1362/204440821X16206324311132Publisher
Westburn PublishersJournal
Social BusinessAdditional Links
https://www.ingentaconnect.com/content/westburn/sb/2021/00000011/f0020001/art00001;jsessionid=348npwv4n7h5u.x-ic-live-01Type
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enDescription
This is the post-review version of content which has been published in its definitive form in the Social Business. [Vik, P., McEachern, M. G., Curtis, J., Kane, K., & Dayson, K. (2023). Social goals versus business necessity: The nature and determinants of innovation in financial inclusion. Social Business, 11, 1-21. https://doi.org/10.1362/204440821X16206324311132]ISSN
2044-4087EISSN
2044-9860Sponsors
Unfundedae974a485f413a2113503eed53cd6c53
10.1362/204440821x16206324311132
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Except where otherwise noted, this item's license is described as https://creativecommons.org/licenses/by-nc-nd/4.0/