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Abstract

In recent years, the emergence of social innovations and social entrepreneurship has dramatically influenced societal development. This paper explores the impact of synergizing social innovations and social entrepreneurship on various aspects of society, from economic policy to community resilience and societal development. Through a multidisciplinary lens, the research seeks an extensive review of social innovation and provides new solutions to entrenched social issues, whereas social entrepreneurship transforms these innovations into scalable initiatives that create meaningful change in society. While keeping traditional factors in mind, we explore the role of technology in developing new ways of working, the importance of collaboration across sectors, and the potential of institutional frameworks to support and stimulate these changes. This study explores the efficacy of highlighting these interrelationships by comprehensively reviewing them using a “resource-based view.” Bringing together, the study critically examines societal development opportunities, culminating in a discussion of integrating social entrepreneurship and innovation to drive societal development. The review’s output provides a comprehensive foundation for further research on scaling social enterprises, focusing on the role of innovation to achieve better societal development.

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