The Business Families Institute at SMU and the?Lien Centre for Social Innovation?co-hosted an engaging workshop on “The Challenge of Risk-Taking in Social Innovation”. Prof.?Johanna Mair, Professor of Organisation, Strategy, and Leadership at the Hertie School of Governance, and Dr.?Christian Seelos, Co-Director of the Global Innovation for Impact Lab at Stanford Center on Philanthropy and Civil Society (Stanford PACS), co-led the workshop.
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As philanthropy evolves, organisations will be increasingly challenged. Hence, modern philanthropy must focus on enhancing innovation processes and deploying results effectively to achieve transformational impact through responsible risk taking. This shift challenges traditional thinking, highlighting the vital importance of creating a healthier social context that prevents issues from arising in the first place.
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The insights shared by our distinguished speakers ignited discussions about the key tensions in social innovation:
???Success vs. Failure – Understanding the strategic role of risk in innovation
???Innovation vs. Scaling – Balancing bold solutions with scalable impact
???Bold Solutions vs. Perpetuating Inequalities – Ensuring innovation works to reduce, not perpetuate, structural challenges
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The workshop also explored managerial frameworks?for effective innovation and risk-taking, covering:
??Building innovation processes – Balancing experimentation with scalability for sustainable change
??Addressing societal problems – Designing solutions that tackle root?causes and prevent inequities
??Creating effective organisations – Diagnosing and neutralising innovation pathologies
Participants participated in group discussions, exploring these tensions from the viewpoints of policymakers, philanthropists, and changemakers. Collectively, they developed actionable strategies for managing innovation more strategically, responsibly, and effectively.
We look forward to continuing this critical conversation and driving a significant impact on social innovation!
Singapore Management University | SMU Lee Kong Chian School of Business | Dr. Weiyang Cheong | Prof. Tang Hang Wu | Prof. Kenneth Benoit?| Assoc.?Prof. Kenneth Goh, Ph.D | Mr. Steve Loh
#SocialInnovation #RiskTaking #RiskAndInnovation?