Management Practice Insights
DOI: 10.59571/mpi.v1i2.1
Year: 2023, Volume: 1, Issue: 2, Pages: 24-30
Original Article
Varun Nagaraj
Dean and Professor of Information Management at SPJIMR.
Correspondance: [email protected]
Received Date:12 June 2023, Accepted Date:16 August 2023, Published Date:10 October 2023
Problem of Practice: For-profit organizations are prime engines of innovation, and even as they pursue commercial success, the onus is on them to become responsible innovators. Hence the question that innovation-focused CXOs (CTOs, VPs of Product Management, Product-led CEOs, etc.) should ask is: How can my organization become a responsible innovator? Recent research by Christian Voegtlin and team claims that such transformative goals require large-scale innovations, which should be evaluated and governed using a set of responsible innovation principles.1 In this essay, we outline the need for responsible innovation, define the principles of responsible innovation, and provide recommendations on how for-profit organizations can turn these principles into practice
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3 Michael E Porter and Mark R Kramer, “CREATING SHARED VALUE.,” Harvard Business Review 89, no. 1/2 (January 2011): 62–77.
4 Shobhit Srivastava, “- Frequently Asked Questions (FAQs) on Corporate Social Responsibility (CSR) -Reg,” Pub. L. No. Companies Act, 2013, § 135, Schedule VII 22 (2021), https://www.mca.gov.in/Ministry/pdf/FAQ_CSR.pdf.
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7 Voegtlin et al., “Grand Societal Challenges and Responsible Innovation.”
8 Jonathan Freedland, “The Future of AI Is Chilling – Humans Have to Act Together to Overcome This Threat to Civilisation,” The Guardian, May 26, 2023, sec. Opinion, https://www.theguardian.com/commentisfree/2023/ may/26/future-ai-chilling-humans-threat-civilisation.
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12 Oriol Iglesias, “The End Of CSR (As We Know It) And The Rise Of Businesses With A Conscience.”
13 Rebecca Ackermann, “Design Thinking Was Supposed to Fix the World. Where Did It Go Wrong?,” MIT Technology Review, February 9, 2023, https://www.technologyreview.com/2023/02/09/1067821/design-thinking-retrospective- what-went-wrong/.
14 Ross D. Arnold and Jon P. Wade, “A Definition of Systems Thinking: A Systems Approach,” 2015 Conference on Systems Engineering Research 44 (January 1, 2015): 669–78, https://doi.org/10.1016/j.procs.2015.03.050.
15 Freedland, “The Future of AI Is Chilling – Humans Have to Act Together to Overcome This Threat to Civilisation.”
16 Metz and Schmidt, “Elon Musk and Others Call for Pause on A.I., Citing ‘Profound Risks to Society.’”
17 Dr. Howard Markel, “How the Tylenol Murders of 1982 Changed the Way We Consume Medication,” PBS NewsHour, September 29, 2014, sec. Health, https://www.pbs.org/newshour/health/tylenol-murders-1982.
© 2023 Published by SPJIMR. This is an open-access article under the CC BY license (https://creativecommons.org/licenses/by/4.0/)
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