Rutgers Institute for Corporate Social Innovation

Society faces many serious challenges that threaten our health, mental and financial well-being, and even survival as a species. We need to act. What role can business play in strengthening and sustaining society? The fates of business and society are closely intertwined. Corporate success has sometimes come at the expense of society, but this interdependence has also been positive, leading to great advances in society alongside great advances in commerce. It is indeed possible for corporations to benefit themselves by benefiting society. In order for business to achieve more positive social impact, and to put both business and society on a sustainable footing, company leaders must develop the mindset and tools that enable their organizations to implement innovative business models that create value for their companies by solving pressing social problems.

Throughout my career, I’ve learned that creating positive social impact is not at odds with strong business performance; rather, it is a key enabler to the long-term success and sustainability of companies.

-Gary Cohen, RICSI Founder

Corporate social innovation (CSI) integrates a company’s full range of capabilities and assets within innovative business models to achieve positive societal impact while advancing the success and sustainability of the enterprise.

Corporations manage their social impact in many ways. Through philanthropy, corporations provide direct donations that help many causes and communities. Through advocacy, corporations have the capacity to shape public policy in ways that can strengthen society. Through corporate social responsibility programs, corporations use their many resources toward the benefit of society. Through shared value creation approaches, firms develop profitable new products and services that address unmet societal needs. CSI integrates the range of established business approaches into a coherent overall strategy designed to achieve maximum social impact through effective and sustainable business practices.