Managing social innovation in for-profit organizations: the case of Intesa Sanpaolo

Purpose - Social innovations are defined as innovative products or services motivated by the goal of meeting a social need, with the opportunity to create new social relationships or collaborations. Although developing social innovations has been the primary concern of non-profit organizations so far, there are signs of an increasing involvement in this type of innovations of for-profit firms, in an attempt to accomplish their corporate social responsibility strategies. This notwithstanding, there is very limited knowledge on how for-profit organizations can develop a capability to manage social innovation projects. The purpose of this paper is to provide exploratory evidence to fill this gap. Design/methodology/approach - The paper presents and discusses a case study of a firm that has been involved in social innovation for years. It is Intesa Sanpaolo, a for-profit organization that leads the Italian banking sector. Findings - The case study points to the existence of three managerial antecedents of a superior ability in social innovation: integrating CSR in its business strategy with a strong commitment from the top management; separating the activities concerned with the development of social innovations from the rest of the organization, following to the structural ambidexterity model; applying the principles of open innovation to the development of social innovations, by involving in particular non-profit organizations as a source of ideas for new social innovation projects and leveraging them to enable adoption of the new products and services. Originality/value - So far there is very limited knowledge on how for-profit organizations can develop a capability to manage social innovation projects. This paper provides exploratory evidence to fill this gap.