Handbook of Inclusive Innovation
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Handbook of Inclusive Innovation

The Role of Organizations, Markets and Communities in Social Innovation

Edited by Gerard George, Ted Baker, Paul Tracey and Havovi Joshi

The Handbook of Inclusive and Social Innovation: The Role of Organizations, Markets and Communities offers a comprehensive review of research on inclusive innovation to address systemic and structural issues – the “Grand Challenges” of our time. With 27 contributions from 57 scholars, the Handbook provides frameworks and insights by summarising current research, and highlights emerging practices and scalable solutions. The contributions highlight a call to action and place social impact at the heart of theory and practice. It will be an invaluable resource for academics, practitioners, and policymakers who champion social inclusion and emphasize innovative approaches to addressing sustainable development goals.
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Chapter 13: How firms bring social innovation and efficiency to the global effort to recover from national uncertainty shocks

Luis Ballesteros

Abstract

The frequency and magnitude of for-profit organizations engaging in tackling large social issues have increased substantially in the last 20 years. An exemplar is the role of firms in helping communities prepare, cope with and recover from uncertainty shocks like hurricanes, droughts, and earthquakes. Company disaster giving has become the fastest growing source for funding disaster response while the inflation-adjusted value of public and multilateral aid has decreased over the years and the economic costs of disasters have skyrocketed. This chapter reviews how firms have used their resources and competences to bring innovation in the way communities deal with disasters. It builds on recent empirical evidence showing that countries that have had a substantial share of international aid coming from firms had comparatively fast and great economic recoveries from natural disasters. Several cases suggest that firms may have a comparative advantage in disaster aid vis-à-vis other entities given their capabilities to sense the social need and act swiftly upon on it by bringing resources from other geographies, and by reconfiguring their operations and products to supply public goods efficiently. This chapter summarizes some of these cases and offers a narrative of how societies can leverage the business sector to tackle similar urgent issues worldwide.

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