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Bringing responsibility to firm practices: how?

Updated: May 28

The concept that Responsible Innovation (RI) can tackle significant societal challenges is increasingly recognized. The mantra "innovating with and for society" is becoming widespread. However, RI's progress could be improved without a clear governance framework and practical implementation guidelines, leaving it largely theoretical. Many companies need to be made aware of RI or need help to integrate its principles into their innovation strategies. For RI to be genuinely effective, businesses must understand and value its benefits. Otherwise, RI might face challenges similar to Corporate Social Responsibility, which has been critiqued for its limited scope in corporate philanthropy. To harness RI's full potential, its pragmatic adoption in the private sector, where most innovation occurs, is crucial. There is ongoing debate about the practical aspects of RI. Recent studies highlight the need to involve users early in the innovation process but often need more detailed frameworks on the specifics of this involvement. While some researchers advocate RI's advantages for businesses, others point out its potential drawbacks to innovation processes. Consequently, the methods and reasons for integrating RI into business practices still need to be determined. Vincent Block will address these challenges in our upcoming webinar, exploring potential research and practice development avenues. We encourage participants to join the discussion and contribute their perspectives on this complex issue.


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