Social Innovation and Sustainable Value Creation from the Operation of Corporate Social Responsibility: Case Study of the Innovation in Value-Added Creation from Spirulina Platensis through the Process of Reducing Carbon Dioxide Emissions from the Bang Pakong Power Plant
Keywords:
Social Innovation, Sustainable Value Creation, Corporate Social ResponsibilityAbstract
This research aims to study social innovations and sustainable value creation from the operation of corporate social responsibility. It focuses on innovation in value-added creation from Spirulina platensis through the process of reducing carbon dioxide emissions from the Bang Pakong Power Plant. It is qualitative research, collecting data through document analysis and in-depth interviews with 10 key informants. Data analysis, focusing on content analysis, reveals that the social innovation as a case study is a project that responds to the corporate social responsibility operations of the Bang Pakong Power Plant, which arises from the community participation and network collaboration, consisting of five components of social innovation: 1) responsiveness to societal problems and needs; 2) novelty; 3) transdisciplinary and collaborative network support; 4) commercial scalability; and 5) social outcomes and impacts. These lead to sustainable value creation in three dimensions: 1) Social dimension: For instance, community enterprise members received new knowledge in developing spirulina scrub products and became self-developing trainers, etc. 2) Economic dimension: Community enterprises have increased income from selling products, and community members have gained additional occupations and increased income. 3) Environmental dimension: The products are environmentally friendly, and the Bang Pakong Power Plant has reduced carbon dioxide emissions from the electricity production process, contributing to a community-friendly environment. In conclusion, the case study of social innovation demonstrates the effectiveness of corporate social responsibility work that creates sustainable value both internally and externally within the organization's operations.
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