Digitalization of Social Enterprise as a Novel Strategy for Countries with High Income Inequality

Abstract

The recent emergence of social enterprises has been recognized and adopted globally as a strategy for economic, social, and environmental problems (Yunus et al. 2021). Appreciating this trend, the aim of this paper is to advocate the digitalization of social enterprises as a novel strategy for countries with high-income inequality. Social enterprises have exhibited their determination to survive during global crises, however, the success factors have not been examined in the literature (Farhoud et al. 2021; Ratten 2020). Current research published in this area indicates that digital businesses provide better access to products and services for customers and it has been reported that digital businesses have risen over the years (Ansong & Boateng 2019). Digital businesses have gained acceptance as providing convenience, lower costs, and better timely services that suit lifestyles of consumers. The rise of digital businesses witnessed rapid adoption of technology and progressed at unprecedented rates. However, there is a significant gap in the academic discussion of the digitalization of social enterprises. The digitalization of social enterprise is novel and, thus, under-researched (Aisaiti et al. 2019). This research paper explores opportunities and challenges for advocating the digitalization of social enterprises as a novel strategy for alleviating economic, social, and environmental issues. The conceptual research conducted in this study explores digital social enterprises as a unique and emerging strategy for countries dealing with high-income inequality issues. Keywords: Digitalization, Social Enterprises, High Income Inequality, Resource-based View, Opportunities, Challenges.