Societal grand challenges are complex, systemic issues with multifaceted, unclear causes and effects. Scholars have long debated how to enhance academic research to help solve climate change, water pollution, systemic poverty, inequality, and global health crises.
One potential way forward to address societal problems is to integrate academic concepts with practitioner-focused theories validated by practitioners’ experiences. To this end, Stephanie Wang from Indiana University and I have devised the lean impact startup framework, which merges the conventional lean startup approach (emphasizing experimentation, iterative learning, and customer-centric innovation) with new principles of stakeholder theory.
Our framework, unique in its active consideration of diverse primary stakeholders, serves as a transformative bridge to help close the divide between scholarly research and tangible, real-world impact.
Beyond the conventional lean startup
The lean impact startup framework extends the conventional lean startup approach in three ways:
- It actively considers diverse primary stakeholders (individuals or groups with a direct stake in the startup’s business model) and encompasses their diverse interests, values, and perspectives.
- It extends the two-step conventional lean startup approach by proposing three steps centered on what primary stakeholders value.
- It systematically accounts for multiple outcomes, including economic, social, and environmental value.