Harnessing social innovation for Malaysia’s progress

The Social Impact Innovation Challenge by Berbudi Berganda – driven by Agensi Inovasi Malaysia (National Innovation Agency) – brought together individuals across Malaysia to scout for innovative solutions for Malaysia’s social development. Carried out over a period of 10 weeks, 12 finalists were shortlisted out of 300 entries using selection criteria that spanned three parameters – innovation, cost-effectiveness and sustainability. Yap Far Loon, Business Development Director, Telecommunication of Spire Research and Consulting, was among the Challenge panelists interviewed on BFM 89.9 (The Business Radio Station) for the Live and Learn show. He shared his views on how to measure impact of social innovation.

This Social Impact Innovation Challenge strives to turn innovative ideas into realities. To explain the impact of social innovation, Far Loon uses a simple demand-supply model. Supply here refers to the finalists. Demand refers to the beneficiaries, such as people with low-income, the homeless, school drop-outs, orphan adults and so forth. Demand is matched to supply through programs such as job matching, Information and Communication Technology (ICT) skills’ development, street interviews and eco-tourism.

Preliminary findings from the challenge indicated three areas of improvement: economic and societal development as well as environmental protection. Economic development issues revolved around employment, income generation and small business opportunities. Societal issues comprised homelessness, gender parity as well as income support for mothers’ to nurture better childcare.

The category of environmental protection saw one of the finalists recommend using paper food boxes as an alternative to Styrofoam – highlighted by Far Loon as a great advance in environmental protection.

Apart from external metrics for social innovation, how can social enterprises measure their success rate through self-assessment? A simple survey can be conducted prior to and post service delivery based on parameters such as applicability of service, life satisfaction, happiness as well as seek recommendation for improvement. This would serve as a useful reference for stakeholders like government agencies and social investors.

The key to success for social enterprises further lies in sustainable momentum, namely a slow start to ensure gradual growth. Collaboration with relevant stakeholders via online platforms (including social media) is also critical.

https://www.spireresearch.com/newsroom/media/harnessing-social-innovation-for-malaysias-progress/

Comments

Android market in India

- Saurabh Sharma, Country Manager, Spire Research and Consulting India can easily be considered as an Android country since 91% of its market share belongs to devices using Google’s mobile operating system. It is an open-source, Linux-based operating system designed specifically for smartphones and computer tablets. This facilitates easy accessibility for programmers to provide enhanced services as well as improve the core functionality of the device. According to statistics, the Android platform has breached 80% market share globally in the third quarter of 2013. With 40 million smartphones in the country, Indian users have an easy access to smartphones to stay connected online. With more consumers wanting to get their hands on smartphones and computer tablets, this has unsurprisingly pushed for the dominance of Androids across markets. Moreover, Androids is adopted by all major smartphone players in India – local players such as Karbonn and Micromax, as we...

FIFA World Cup 2018 holds lessons for successful team building

The FIFA World Cup 2018 is widely seen as one of the best World Cups in recent memory, with many surprises and goals aplenty. One talking point was the role of teamwork as opposed to just superstar talent. What lessons can businesses learn from the beautiful game? Leon Perera, CEO of Spire Research and Consulting, shared his thoughts in The Business Times – Views from the Top section on 23 July 2018. As World Cup fever draws to an end, the game lived up to its hype with breath-taking goals and outstanding performances. Perera highlighted the role of 'team effort' over mere individual talent, which was evident in the early failure of teams with world-class superstars like Argentina and Portugal. Perera also pointed out the importance of investing in new talent pipeline development, which paid rich dividends for France, the winning team and also one of the youngest teams in the World Cup. The game also highlighted the role of risk-taking. A relentless approach t...

2022: Recovery or Resurgence?

The Covid-19 pandemic officially marks a grim second year this year. Nonetheless, there is some optimism among scientists that while the virus will become endemic, its threat to human life could reduce over time. In the first of a three-part Spirethoughts instalment examining analysts’ predictions for the new year ahead, we look at 3 economic and social trends that are likely to affect the global economy in 2022. Debt and inflation to grow . Global debt accelerated during the pandemic as governments continued to borrow. Twenty-five nations, including the US and China, now have total debt amounting to more than 300% of GDP, as central banks contribute to inflation by printing money, deepening the debt trap. Inflation, while on the rise, seems unlikely to hit the historic double-digit levels of the 1970s, as government spending should ease in 2022. Industries overheat amid global warming “greenflation”. The other continuing story with global imp...

Amazon enters the healthcare sector

Amazon is eyeing the healthcare sector. It has rolled out a line of private label, over-the-counter medicines along with medical supplies for hospitals, doctors and dentists. Whether it is selling prescription or generic drugs, Amazon seems poised to disrupt the healthcare industry. However, Amazon faces its own share of hurdles. It will need licenses from each state to be able to sell medical supplies. Medical practitioners may prefer to stay loyal existing sales channels. Waiting 24 to 48 hours for a pain or cold medicine means that customers may still run to the nearest pharmacy. Will Amazon disrupt the healthcare industry? Read more here: https://www.spireresearch.com/newsroom/spirethoughts/amazon-enters-the-healthcare-sector/

Asia-Pacific nations poised to sign the world’s largest multi-lateral trade agreement, RCEP, in 2020

After six years of negotiations, more than a dozen countries in the Asia-Pacific are poised to sign the world’s largest trade agreement, known as the Regional Comprehensive Partnership (RCEP), in 2020. This agreement would boost commerce among participating countries by lowering tariffs as well as standardizing customs rules and procedures. The RCEP will widen market access, especially for those countries that do not have existing many bilateral trade agreements in place. Will India pay a price for its decision to stay out of the RCEP? Read more: https://www.spireresearch.com/newsroom/spirethoughts/asia-pacific-nations-poised-to-sign-the-worlds-largest-multi-lateral-trade-agreement-rcep-in-2020/

The Knowledge to Decide

Search This Blog