THE DRIVING FORCES FOR EFFECTIVE SOCIAL INNOVATION IN FAMILY BUSINESS - A CASE STUDY OF PT PARAGON TECHNOLOGY AND INNOVATION

• Main Author: Debora Angelia, Krisanti
• Format: Theses
• Language: Indonesia
• Online Access: https://digilib.itb.ac.id/gdl/view/78038
• Institution: Institut Teknologi Bandung

Family businesses are recognized as significant drivers of social innovation and play a crucial role in addressing societal challenges. However, there is a need to gain a deeper understanding of the driving forces and strategies that enable family businesses to effectively engage in social innovation. This research investigates the case of PT Paragon Technology and Innovation, a family business, to explore these factors within their unique context. Through in-depth interviews and analysis of PT Paragon's initiatives, this study identifies key driving forces such as self-awareness, personal commitment, family values, corporate culture, employee engagement, strategic collaborations, and sustainable prosperity. These findings underscore the importance of these factors in shaping social innovation within family businesses, offering valuable insights and recommendations for practitioners seeking to drive social change through innovative approaches. This study sheds light on the driving forces and strategies behind their successful engagement in social innovation. The findings reveal that self-awareness and personal commitment are crucial for family businesses to embrace social innovation. Additionally, aligning with core family values and fostering a supportive corporate culture create an enabling environment for driving social change. Moreover, employee engagement, strategic collaborations, and a commitment to sustainable prosperity are identified as effective strategies employed by PT Paragon. These insights contribute to the existing knowledge on social innovation in family businesses, providing practical guidance for practitioners aiming to make a positive societal impact through innovative approaches.