Finnish consumers have chosen LUMENE Oy as the number one in the FII Social Innovation Index, measuring the perceived contribution to society and environment through innovation.
Picture, from left: Kristina Heinonen (Hanken), Nathalie Ahlström (Fiskars) Johan Berg (LUMENE), Suvi-Elina Enqvist (Marimekko), James Dedman (Fazer) and Camilla Wardi (Hanken).
Social innovation plays an important role in strengthening society. They often involve crossing organisational and industry boundaries, bringing together previously unseen individuals and groups. Some of the most recent cross-organisational examples include cooperation with Fazer, Neste and Sulapac.
“Social innovation is not limited to products, it encompasses much more: the way we communicate and act in society, how we deal with issues such as inclusion and respect for the consumer, regardless of social or ethnic background,” reasons Johan Berg, CEO of LUMENE Group.
The social innovation index is part of the Finnish Innovation Index (FII), which measures and classifies companies with two indicators: the commercial innovation index and the social innovation index. In addition, FII compares experience with the transparency of company data. In the 2022 FII rankings, about 3,500 consumers rated a total of 60 companies. In order to assess, the consumer had to have contact with the company or its products in the last six months. A total of 17,000 responses were received, with an average of 300 responses per company. In the FII’s overall results, LUMENE was among the TOP10, ranking 8th.
The Finnish Innovation Index has been developed by Hanken School of Economics (Finland) in cooperation with the Norwegian School of Economics, Karlstad University (Sweden), the University of Aarhus (Denmark) and Fordham University’s Gabelli School of Business (USA). This collaboration aims to stimulate public discussion around the strategies for innovation in different companies and industries across countries.
“FII measures perceived innovation from the customer’s perspective, rather than measuring consumer attitudes, expert opinions or R&D investment in general. Perceived innovation is a subjective measure of how customers perceive companies’ ability to develop and offer new and useful solutions,” says Professor Kristina Heinonen, from Hanken, who led the FII research group.