The Role of Stakeholder Collaboration in Civic Wealth Creation in Pakistan: A Social Entrepreneurial Perspective

Abstract

The contemporary global landscape is marked by unprecedented challenges, necessitating sustained endeavors toward fostering a sustainable future. In response, a plethora of conceptual frameworks have emerged, aligning with the Sustainable Development Goals delineated in 2015. Among these emergent frameworks, civic wealth creation has garnered attention for its perceived efficacy in addressing multifaceted social, economic, and communal challenges, thereby fostering enhanced community well-being. Central to the civic wealth creation paradigm is the recognition of stakeholder collaboration as indispensable for the effective resolution of collective issues. This framework underscores the imperative of concerted collaboration among diverse stakeholders, including enterprises, regimes of support, and beneficiaries, in the pursuit of generating civic wealth. Social enterprises, positioned as hybrid organizations adept at navigating the nexus between economic and social imperatives, assume a pivotal role in facilitating stakeholder collaboration and engendering civic wealth. Against this backdrop, this study delves into the mechanisms through which social enterprises in Pakistan collaborate with diverse stakeholders to engender civic wealth, thereby contributing to the scholarly discourse on sustainable development and socio-economic transformation.