The rise of social value hybrids
How new hybrid organization models are reshaping value creation
Policymakers across the world are managing cost pressures and increasing citizen demands through collaborative approaches. An increasingly visible way in which this is being achieved is through the creation of “hybrid spinouts” that combine traits of the public, private and social sectors elements—traits that may typically be considered hard to reconcile. While there is no single blueprint for a hybrid spinout, they share five key characteristics: autonomy from government; a social mission; robust business models; nontraditional enterprise; and citizen centricity.
Hybrid models offer the potential to change the way public services are commissioned, developing more collaborative approaches that are more adaptive to the needs of citizens, and harness the dynamics of local economies. They also bring with them new possibilities for creating career models and opportunities for entrepreneurship, ownership and employment within today’s public sector. In short, they seem to be offering the best of all worlds.
New research by the Accenture Institute for High Performance, based in part on a survey of innovators in social provision in Britain, delves deep into the prerequisites of success for a new generation of innovative public entrepreneurs, as well as assessing the barriers they face to achieving scale.
This recent Accenture Institute for High Performance Point of View analyzes how hybrid spinouts could drive a new wave of public entrepreneurship. The paper also looks ahead at the likely implications for an enabling policy environment and the roles of business and charities in the creation of successful hybrid spinouts and other ‘social value vehicles.’
Access the report here:
