How Can You Foster Purpose-Driven Innovation? - InnoLead

Innovators seek to create positive impact, but their efforts may lead to unintended consequences. Purpose-driven companies need to mitigate negative outcomes not just from their business model but also their customers' needs. Innovators must anticipate long-term consequences of their work and communicate them to engage stakeholders for social responsibility. Social Model Canvas, an enhancement of the Business Model Canvas, helps promote envisioning alternate futures across evolving trajectories, potential for alternative usage, appropriation, societal and governmental reactions. To achieve this change in mindset, we need purpose-driven innovators who go beyond short-term profits to deliver better outcomes to society.