Social Innovation of New Ventures: Achieving Social Inclusion and Sustainability in Emerging Economies and Developing Countries

This book explores how new ventures in emerging economies and developing countries generate social innovation, highlighting successful individual entrepreneurs, social relationships, product innovation, processes, systems, and markets through cases. It is a valuable resource for understanding the dynamics of new ventures and their role in driving social innovation and sustainable development.

\n Format: Hardback
\n Length: 164 pages
\n Publication date: 18 December 2020
\n Publisher: Taylor & Francis Ltd
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This comprehensive book delves into the realm of new ventures in emerging economies and developing countries, offering invaluable insights into the mechanisms through which these ventures generate social innovation. It showcases innovative business models that deviate from traditional approaches, highlighting the unique characteristics and challenges faced by these ventures in resource-constrained environments. By examining successful individual entrepreneurs, social relationships, product innovation, processes, systems, and markets, the book provides a rich tapestry of case studies that shed light on the dynamics of these ventures. It navigates across key theoretical elements such as individual initiative-taking, agency, and opportunity contexts, contributing to a deeper understanding of the factors that drive social innovation and sustainable development. As a valuable resource for scholars, researchers, and practitioners, this book will serve as a crucial reference for understanding the dynamics of new ventures in emerging markets and their role in fostering social change.

Introduction:
The pursuit of innovation has become an increasingly important driver of economic growth and development in emerging economies and developing countries. These regions are characterized by a rapidly expanding population, rising consumer demand, and limited resources, making it challenging for traditional business models to thrive. In response, new ventures have emerged, harnessing innovative technologies, business practices, and social initiatives to address pressing social and environmental challenges.
New Forms of Business:
One of the key features of new ventures in emerging economies and developing countries is their innovative business models. These ventures often challenge traditional assumptions and conventions, adopting a more collaborative and decentralized approach to business. They often focus on creating value for society rather than solely maximizing profits, and they prioritize sustainability and social impact alongside financial performance.
Differences from Traditional Business Models:
New ventures in emerging economies and developing countries differ from traditional business models in several ways. Firstly, they are often characterized by a lack of access to capital, infrastructure, and established networks. This poses significant challenges for these ventures, as they need to find creative ways to finance their operations and build their networks. Secondly, the markets in these regions are often complex and dynamic, with rapidly changing consumer preferences, regulatory frameworks, and competitive landscapes. This requires new ventures to be agile and adaptable, able to quickly respond to market changes and adapt their business models accordingly.
Breaking New Ground:
Despite the challenges, new ventures in emerging economies and developing countries have achieved remarkable success in breaking new ground. They have developed innovative products and services that address unmet needs in the market, and they have created new job opportunities and economic growth. One of the key factors that contribute to their success is their ability to harness the power of technology and digital platforms.
Individual Initiative-Taking:
Individual initiative-taking is a critical factor in the success of new ventures in emerging economies and developing countries. These ventures are often led by entrepreneurs who are passionate about their ideas and driven to make a positive impact on society. They are willing to take risks and explore new opportunities, even in the face of uncertainty and adversity.
Agency:
Agency is another key factor that contributes to the success of new ventures in emerging economies and developing countries. Entrepreneurs in these regions have the ability to navigate complex social and political landscapes, and they often work closely with local communities and stakeholders to ensure that their projects are socially responsible and sustainable.
Opportunity Contexts:
Opportunity contexts play a significant role in the success of new ventures in emerging economies and developing countries. These contexts include factors such as government policies, market trends, and technological advancements. New ventures need to be able to identify and seize these opportunities, and they need to be able to adapt their business models and strategies accordingly.
Conclusion:
In conclusion, this book provides valuable insights into the mechanisms through which new ventures in emerging economies and developing countries generate social innovation. It showcases innovative business models that deviate from traditional approaches, highlighting the unique characteristics and challenges faced by these ventures in resource-constrained environments. By examining successful individual entrepreneurs, social relationships, product innovation, processes, systems, and markets, the book contributes to a deeper understanding of the factors that drive social innovation and sustainable development. As a valuable resource for scholars, researchers, and practitioners, this book will serve as a crucial reference for understanding the dynamics of new ventures in emerging markets and their role in fostering social change.

\n Weight: 418g\n
Dimension: 242 x 160 x 19 (mm)\n
ISBN-13: 9780367473334\n \n