Innovation management and impact on social economy: A perspective of community enterprise in a developing country

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Abstract

Today’s economic, social, political, technological, and environmental changes pose numerous challenges. Organisations that fail to adapt and reflect their organisational culture struggle to meet objectives and survive. Successful organisations must embrace innovation (Dah et al., 2022). Community enterprises (CEs), also referred to as social enterprises, possess a distinct advantage when it comes to tackling socio-economic problems in marginalised communities. The significance of CEs in addressing social challenges and delivering inventive, long-lasting, and impactful social solutions is steadily increasing (Ngatse-Ipangui & Dassah, 2019). This study explains innovation management and the effect of CEs on the social economy in Nan, Thailand. Through qualitative research, eight key informants were interviewed to assess the influence of CEs in Nan, Thailand. Data analysis involved content analysis and NVivo software. The findings revealed that innovation management allows CEs to develop new ideas and procedures efficiently, enhancing productivity, profitability, and flexibility. CEs contribute to economic growth, inclusion, and societal well-being, particularly in the digital age. They generate jobs, offer innovative services and products, promote sustainability, and inspire hope for the future. Governments, administrations, and organisations should support CEs striving to improve the social economy, as these initiatives benefit both the community and society as a whole.

Keywords: Innovation Management, Community Enterprise, Social Economy, Digital Trend

Authors’ individual contribution: Conceptualization — R.T., Y.S., T.K., and K.J.; Methodology — R.T., Y.S., T.K., and P.L.; Validation — R.T., Y.S., T.K., K.J., P.L., and P.M.; Investigation — R.T., T.K., and K.J.; Resources — R.T., Y.S., T.K., K.J., P.L., and P.M.; Writing — R.T., Y.S., T.K., K.J., P.L., and P.M.; Visualization — R.T., Y.S., T.K., K.J., P.L., and P.M.; Supervision — T.K. and K.J.

Declaration of conflicting interests: The Authors declare that there is no conflict of interest.

JEL Classification: O31, O32, O33, O35

Received: 10.02.2023
Accepted: 16.02.2024
Published online: 20.02.2024

How to cite this paper: Thetlek, R., Shaengchart, Y., Kraiwanit, T., Jangjarat, K., Limna, P., & Moolngearn, P. (2024). Innovation management and impact on social economy: A perspective of community enterprise in a developing country [Special issue]. Journal of Governance & Regulation, 13(1), 264–276. https://doi.org/10.22495/jgrv13i1siart1