Corporate -- Nonprofits Partnerships to Improve Social Innovation and
Corporate Social Responsibility
Abstract
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
vice versa when it comes to social innovation and corporate
social responsibility.