Implementation of a Social Innovation Model for Economic Value Creation

Abstract

This chapter reviews and discusses the multidimensionality of social innovation literature and relates it to some aspects of economic value creation. Moreover, it proposes a model for micro-businesses creation as a solution to reduce asset poverty. The model, characterized as a social innovation, was adapted to an academic program at the Tecnológico de Monterrey, which is one of the largest private universities in Mexico. The results of the pilot implementation clearly showed a positive impact in the increase in sales, job creation, and –consequently– the creation of economic value. Finally, the chapter highlights social innovation as an important input for governmental economic plans because the development level of a country is more important than its economic growth.