Research On The Influence Of Social Innovation And Economic Values On The Formation Of Shared Value In Social Purpose Organizations In The Education Sector Of Ghana

Undoubtedly,education is one of the most critical avenues used to eradicate illiteracy,diseases,poverty as well as a vehicle on which nations depend to develop their economies and human resources.In spite the telling attributes,many developing countries including Ghana are unable to reap the full potentials of education due to challenges like infrastructural deficits,insufficient allocation of financial resources,inadequate teaching and learning materials and poor integration of relevant stakeholders.As a result,managing these challenges across the sixteen regions of Ghana had become a critical burning issue for stakeholders in education,including government,parents,students,and managers of tertiary institutions.To address these challenges,government being the sole financier and manager of all the public educational institutions coupled with some policy interventions imitated have yielded little results.Moreover,extant literature predominantly employed social purpose organizations in solving social issues yet,little is said about how these organizations employ the concept of shared value couple with the concept of social innovation and basic needs to create value for business and society.Against this background,the present study investigated the combined influence of social innovation and basic needs on shared value by social purpose organizations in the field of education in Ghana.To achieve this,a conceptual framework was established based on prior research on the study constructs.Specifically,the study examined the influence of economic and social dimensions of the social purpose entities on shared value including the direct impact of economic value,social value,social innovation and basic needs on shared value.The framework further examined the indirect effect of economic and social values on shared value through basic needs.Additionally,the study further examined the moderation effects of social innovation between economic and social values on shared value.Further,the study investigates the moderation effects of social innovation through basic needs in which economic and social values exert on shared value.Based on the sample of six hundred and thirty social purpose organizations,a Partial Least Square Structural Equation Modelling(PLS-SEM)was employed in the analysis of the data.Results of the PLS-SEM revealed that economic and social values have a bidirectional relationship in creating shared value.The results further indicated that there is a significant and positive relationship between economic value and social value on shared value in the educational domain of Ghana.Similarly,the results revealed a positive and significant relationship between social innovation and shared value same as basic needs and shared value.Furthermore,the results revealed that basic needs partially mediates the relationship between economic value and shared value while fully mediated the relationship between social value and shared value.Moreover,the results of the PLS-SEM revealed that the moderating effect of social innovation in the relationship between social innovation and economic value on shared value was not supported.However,the moderating effect of social innovation in the relationship between social values on shared value is supported.A moderated mediation analysis revealed that the relationship between economic value and basic needs failed to moderate by social innovation and that basic needs partially mediates the effects of economic value and social innovation on shared value.On the other hand,a moderated mediation analysis indicated that the relationship between social value and basic needs is moderated by social innovation,in that basic needs fully mediates the effects of social value and social innovation on shared value.The study has several innovation points.The first innovation point lies in the theoretical contribution that is,the conceptual framework encapsulates Economic Value,Social Value,Social Innovation,Basic Needs,and Shared Value,which were missing in the traditional framework of the Shared Value Model.Thus,the inclusion of Social Innovation and Basic Needs as moderators and mediators respectively demonstrate a significant contribution to the shared value literature.Another innovation point of the study is reflected in the domain of the study.In this regard,prior works on shared value predominantly focused on giant companies in the developed countries to the neglect of smaller entities like social purpose organizations with market-based models in the domain of education in an emerging country.Also,,the methodology used in the study demonstrated a significant innovation point in that,qualitative approaches were predominantly employed by scholars in this area yet,this study departs from this approach by using a quantitative method utilizing PLS-SEM,structural equation modelling technique.