Innovation-Led Entrepreneurial Growth Amid Business Disruption: Analyzing Shifts in Social Entrepreneurial Paradigm

Abstract

Since the recent health crisis caused by COVID-19, innovation-led business dynamics has foreseen a systemic crisis, which has had a disruptive impact on the economic and social dimensions of entrepreneurial development. The implications of such an impact have had several consequences for stakeholders, leading to rethinking corporate strategies in emerging economies. Corporate social responsibility has deep rooted implications on entrepreneurial strategies, practices, and policies, which is implicit in the disruptive strategies applied by the enterprises. In a context of systemic crisis, this study aims to demonstrate that the best recovery alternatives lie in a multidimensional vision that involves economic, political, social, and cultural factors that allow an effective development strategy to be drawn to promote growth. Accordingly, this study proposes that the secondary sector of the economy has a lot to contribute in terms of job creation, competitiveness, social responsibility, and economic development. This study is conceptual and discusses connections between the forms of corporate social responsibility in small companies, corporate decision-making based on a new social commitment, and determination of innovative and socially responsible actions have been defined. The findings of the study highlight that entrepreneurial innovation provides a sustainable platform for growth perspectives by understanding the impact on social upliftment. The disruption in business activities boosted innovation-led strategies to gain market share leading to social upliftment in emerging markets.