Abstract: Civic wealth creation happens when community members, supporters, and entrepreneurially minded agents come together to aggregate resources and build new capacities. Civic wealth accounts for the social, economic, and communal endowments generated by local communities. Our framework shifts the conversation to a “civic” level of analysis that captures the variety of local settings where many societal change initiatives take place—in neighborhoods, villages, and communities where the people who are being helped are intimately involved in creating and implementing the solutions. For management researchers in general, and entrepreneurship researchers in particular, this shift calls for a better understanding of the nature of communities, and the roles they play at the intersection of entrepreneurship and societal impact creation. However, research on this interdisciplinary phenomenon is disconnected and spans well beyond the fields of management and entrepreneurship. Researchers lack both a clear understanding of the community construct and an integrative framework to guide further inquiry. To address this gap, we conduct a systematic review of the literature published in 51 journals across the management and entrepreneurship, economic development/community development, economic geography and regional science, energy, and public administration disciplines. Based on this review, we identify five types of community and describe how societal impact is generated through entrepreneurial efforts for, in, with, enabled by, and driven by communities. Our review reveals trends and gaps in the extant literature, uncovers community dynamics that are critical for societal impact creation through entrepreneurship, and sets forth an evidence-based agenda for future research.
Technical University of Munich
TUM School of Management