Associations between Grand Challenges and Multinational Enterprises: A Bibliometric and Thematic Analysis

Abstract

Grand challenges are defined as wicked problems that affect a significant number of people on a global scale. To overcome these challenges and ensure the continued existence of humanity, a greater focus has been placed on addressing the underlying issues. This has led to an increase in research and literature on grand challenges affecting both international business and multinational enterprises. The aim of this study is to assess the status of grand challenge literature in all areas connected to multinational enterprises and grand challenges, which are global issues with significant implications. From 2013 to 2023, the Web of Science database was used to investigate eight search terms from the literature, and bibliometric and thematic analyses were carried out based on the principles of the systematic literature analysis. The most focused areas of the research are performance, foreign direct investment, management, firms’ innovation, knowledge, corporate social responsibility, international business, and impact. Asian, African, European, and other countries may emerge together in different clusters depending on whether the grand challenges they are struggling with are similar or identical. The terms ‘grand challenges’, ‘innovation’ (open and social), ‘technology transfer’, ‘R&D internalization’, ‘digital transformation’, ‘technology’ and ‘artificial intelligence’ in the literature of multinational enterprises indicate that these themes are used as tools to solve grand challenges.

1. Introduction

Grand challenges (GCs) refer to complex, broad, and vague, i.e., definitely unknown, and necessarily unsolvable wicked problems [1]. These problems, including climate change, food security, environmental degradation, disasters, poverty and inequality, and hunger in the world [2,3] are complex problems with significant consequences, unknown solutions, and introspective and evolving technical and social interactions [4]. In recent years, there has been a notable increase in research and literature on grand challenges affecting both international business (IB) and multinational enterprise (MNE), which have had a significant global impact on many people [5,6].

According to The State of the Global Grand Challenges (2019) [7], global grand challenges (GGCs) are witnessing positive developments and changes in the areas of health, environment, security, education, energy, food, well-being, water, space, disaster resilience, shelter, and governance. The GGCs are closely intertwined with the resolution of a multitude of other significant issues, including those pertaining to the environment, health, shelter, food, water, and well-being. The concept of environmental sustainability is multifaceted, encompassing a range of interconnected domains. These include biodiversity, marine and freshwater ecosystems, forests, soil, the management of natural resources, global climate change, air pollution, the management of ecosystems, natural disasters, chemical substances, and waste management. One of the most pressing challenges in the developing world is the lack of access to clean water [8]. The phenomenon of climate change represents a significant threat to humanity. Industrialization has a dual impact on the climate, both directly and indirectly through the generation of air pollution. However, the advent of cutting-edge technologies offers a potential solution to this global environmental challenge. The utilization of satellites, drones, robots, and sensors has enhanced the collection of environmental data, facilitating the development of tangible solutions that can facilitate the repair of the environment. It can be stated that approximately one-third of the global population suffers from obesity, diabetes, or other food-related diseases due to inadequate nutrition. Food is linked not only to individual well-being, but also to many other global grand challenges, including health, prosperity, the environment, disaster resistance, water, energy, and governance policies. The United Nations Sustainable Development Goals (2015) [9] report that over 844 million people currently lack access to clean drinking water. Furthermore, 2.3 billion people lack even basic sanitation, while over 4.5 billion people lack access to safe, controlled sanitation services, such as sewage, sewerage, and toilets. Diseases are the second leading cause of child death worldwide, which can be prevented every year with safe water and sanitation [7]. Water is essential for more than just drinking, cooking, and sanitation. In addition, it is an essential resource for industrial processes, recreational activities, entertainment, and for the preservation of thriving environmental ecosystems. According to the International Food Research Institute, 40% of global grain production and 25% of the world economy are currently at risk due to unsustainable water use [7].

The application of new technology is also having an impact on the processing and distribution of food. The use of new sensors and artificial intelligence technologies is becoming more prevalent in the segregation and monitoring of food products for the purposes of preventing deterioration and contamination and ensuring authenticity. Furthermore, the pace of technological development in this field has accelerated in recent years. This reduces food waste and food-related diseases. According to the United Nations Sustainable Development Goals, more than 400 million people do not have access to basic health services, and 1.6 billion people live in sensitive environments where health and health services are at risk [7]. It is estimated that approximately 28 million people are living with HIV, with 15 million individuals currently awaiting treatment. Every two seconds, one person between the ages of 30 and 70 dies from a non-communicable disease, including cardiovascular disease, chronic respiratory disease, diabetes, or cancer. An increasing number of autonomous kitchens and restaurants are being completed with entrepreneurs, robotic chefs, hygiene-sensitive unemployed shops, and food distribution robots. Technological advancement is a key factor in addressing the global challenge of shelter. The digitization of building design, construction, and real estate sectors, along with project management, supply chain management, equipment management, and cost and supply projections, enables employees and customers to visit facilities virtually, boosting efficiency. Similarly, technical advancements are vital for disaster response, prediction, and prevention.

Many other significant global issues, such as access to food, water, electricity, health care, educational opportunities, and more, are significantly impacted by prosperity. Migration is, above all, a major social and political issue [10]. While migration and the digital revolution have several positive and negative aspects in terms of efforts to make the world more open and connected, the effects of climate change are almost exclusively negative. This is evidenced by the rising sea levels and temperatures that are a result of global warming. The most severe consequences have global impacts [10]. According to the U.S. Office of Science and Technology Policy (2015) [11], the grand challenges that have been sought to be solved worldwide in recent years have been clearly listed. These include an increase in survival rates by 50 percent in cancers that are particularly challenging to treat, the creation of devices that are capable of detecting, calculating, and communicating without the need for cables or maintenance, and the development of the “Internet of Things” revolution through the miniaturization of technology to a size that is no larger than a grain of rice. Furthermore, the creation of faster computer chips that consume less power is being developed. The information technology revolution is also being maximized, with the production of atomically sensitive materials that are fifty times stronger than aluminum yet weigh half as much and cost the same. Additionally, the cost of transforming seawater into drinking water is being reduced. Because water resources around the world are vulnerable to threats such as pollutants, changes in land use, changing and increasing populations, climate change, and extreme weather conditions.

The development of new technology, the aging population, health consequences, climate change, and growing socio-political uncertainty have all forced academics and researchers working on MNEs to consider novel concepts. Studies on IB and MNE are increasingly focusing on the relationship between corporate innovation, internationalization efforts, and GCs, through research based mostly on qualitative methods and case studies [12]. The International Business Survey by Buckley (2002) [13] raised concerns about the role and responsibilities of multinationals in the broader social interests. GCs represent complex and wicked problems that affect many people globally. To overcome GCs and sustain our existence as human beings, issues have become increasingly central, and in recent years there has been an increase in research and literature on GCs affecting both IB and MNEs.

This review is limited to the GCs and is framed within the framework of IB and MNE. To prevent the replication of straightforward, well-known solutions that might aid in the growth and concentration of these problems, new analytical and pedagogical approaches should be designed [14]. To identify gaps or themes that have not been fully investigated, assessments of the amount of current literature and thematic classifications are required. The aim of this review is to analyze the status of the literature on grand global problems and publications in all fields related to IB and MNEs, which are global issues with major implications. This review was designed and carried out in response to the following research questions:

RQ1: What are the factors that have contributed to the growth of the literature focusing on grand challenges, international business, and multinational enterprise?

RQ2: What literary topics are the most intense in the literature?

RQ3: Which topics are at their formative or newborn stages in the literature?

RQ4: Which themes are most or closely related in the field?

2. Literature Review

In recent years, in a world facing a climate emergency and growing inequalities highlighted by the COVID-19 pandemic, such problems can be described as social grand challenges with large-scale negative consequences [15]. Overcoming the GCs will become more and more centralized to sustain our existence as human beings, and it will be difficult for management scientists to build a buffer against greater participation. This aspect was further highlighted by the COVID-19 pandemic [8,16]. According to a United Nations report, the global poverty rate is estimated to be 7% by 2030, and the COVID-19 pandemic will cause 255 million full-time jobs to be lost [17]. As noted by Brammer and his colleagues (2019) [1], the absence of a consistent conceptualization of GCs represents a significant challenge. It is, therefore, essential to acknowledge the heterogeneity of how GCs emerge and how they manifest in different contexts as a preliminary step towards addressing them. The global economic and social impact of the ongoing pandemic has prompted a re-evaluation of the role of multinational corporations in addressing the complex challenges facing humanity [5,18].

Successful research and dissemination of policies and practices relating to GCs necessarily require a significant level of international cooperation and coordination. Therefore, the biggest challenges in promoting research on GGCs relate to the establishment and sustainability of international research and innovation cooperation [19]. The GCs can be described as multinational phenomena [5]. Therefore, IB research is built on the theories of MNE and focuses on global access to their existing resources and capabilities that can be used to overcome GCs [6]. While addressing GGCs, such as differences in culture, language, resources, and values, the interlocutor suggests that international cooperation may be required to contribute [5]. The capacity of MNEs and their contribution to national development have played a significant role in the identification of sustainable activities. These contributions are required in the form of advanced technology, innovation, and knowledge assets, which are employed to facilitate the implementation of sustainable practices and corporate social responsibility (CSR) [20].

Recent statements on MNEs have adopted a quantitative perspective [21,22]. IB researchers are well-placed to provide information on GCs, particularly in the context of cross-border interactions between organizations and individuals within a global business system. Such GCs include anti-globalization sensitivity and its impact on the strategy, location, and operations of multinationals, as well as issues typically considered within the IB sphere, such as climate change, poverty, migration, terrorism, and infectious diseases [5]. The growth in interest in IB research among academics has been driven by the expansion of MNEs [23,24,25]. The environmental capabilities and concerns of MNEs play a significant role in determining location choices. MNEs with greater environmental capacity are more likely to deploy their operations in areas with stricter environmental regulations, whereas MNEs with heightened environmental concerns tend to gravitate towards these regions. Direct foreign investment targets are often referred to as “fertility havens.” The GCs, on the other hand, are naturally phenomenon-based [26]. In addition to the significant inquiry into the impact of MNEs on the GCs facing society, a more fundamental avenue of investigation is the question of whether MNEs are contributing to a solution or contributing to the problems they seek to address [27].

3. Materials and Methods

This review is a comprehensive integrative review of the GC related to IB and MNE literature to shed light on emerging topics and themes in this field. To provide a more comprehensive overview of the phenomenon under evaluation, a thematic and bibliometric analysis examines the subject from the standpoint of several study designs and techniques, thus offering a more in-depth understanding of the subjects. A systematic literature review using bibliometric and thematic analysis is completed by combining and mixing the findings and results with the existing body of literature. Furthermore, the selection phase should be accompanied by an explanation of how the search and selection criteria were chosen.

The R programming language is utilized to develop the Bibliometrix package, which facilitates bibliometric analysis. It operates within a connected environment comprising open libraries, open algorithms, and open graphics programs. The Web of Science (WOS) was selected as the database for the bibliometric analysis following the preliminary literature assessment and the formulation of research questions, objectives, and research techniques. This decision was made due to the academic recognition and prestige associated with the WOS database. The long-term evolution of the material was observed, spanning from 2013 to 31 August 2023. WoS is the world’s oldest, most widely used, and authoritative database of research publications and citations [28]. WoS is one of the most reliable scientific citation databases in the world, containing a comprehensive index of the most esteemed journals in the field [29]. WoS is more than just an archive of scholarly studies. With extensive citation links, improved metadata, and a balanced, selected design, this database can accommodate a wide range of information demands [28]. The metadata of the articles were transferred to the R program, and the Biblioshiny library was used for the subsequent analysis and visualization. R is one of the most widely used programs for bibliometric analysis and is preferred due to its open-source code, numerous libraries, and comprehensive visualization support [30]. Furthermore, a co-word analysis was conducted using the VOSviewer version 1.6.20. program [31]. This bibliometric method enables the matching of keywords and mapping of the range identified in the search, thus facilitating comprehension of the data and enhancing the visibility of relationships between terms within the search [29].

The knowledge base and intellectual structure of a given topic or field of study are determined by bibliometric analysis. This process involves a detailed examination of the conceptual structure of the research field in question, with the aim of creating a network structure map for a specific body of scientific literature. These activities collectively constitute scientific mapping [30,31]. The review was organized in accordance with the Preferred Reporting Items for Systematic Reviews and Meta-Analyses Extension for Scoping Reviews (PRISMA) guidelines [32]. A bibliometric workflow typically comprises the following components: study design, data collection, analysis, visualization, and interpretation [33]. The PRISMA flow diagram is a useful tool for illustrating the various search activities conducted during the integrative review process, as well as the decisions made regarding the inclusion or exclusion of articles in the review [34]. It was anticipated that the PRISMA guidelines would prove beneficial to several users engaged in the review process, including those involved in policymaking and guideline creation, as well as systematic review authors, editors, and reviewers [35].

Themes in the Literature

A bibliometric analysis can identify the authors and most impactful publications in a certain field [36]. This is achieved using keyword-plus analysis, which involves classifying the identified items in more specific thematic groups. To gain a deeper understanding, additional analysis is necessary, including co-occurrences, co-words, and thematic mapping analysis [36]. The research keywords were chosen based on existing literature. Keywords attained by literature-focused authors and appointed words were defined for finding the publications.

Table 1. Themes and related keywords in the literature.

Themes	Related Keywords	Sample References
Grand Challenges/Global Grand Challenges	Sustainability Corporate social responsibility	[1,4,8,10,14,37,38,39,40]
International Business Multinational Enterprises	Internationalization	[24,25,41,42,43]
Grand challenge and Multinational Enterprises	Social innovation	[2,3,5,6,13,18,36,44,45,46,47]

Source: own elaboration.

depicts each research inquiry and sources in literature-related themes and keywords in the international business, multinational enterprises, and grand challenges literature. This is based on studies used and analyzed for MNEs and GCs datasets.

Bibliometric research, which is a theme-based examination type, emphasizes data and tendencies [48] in the field and offers an advantageous technique by evaluating and analyzing academic research outputs [49]. With the literature review depicted in Table 1, a range of studies are summarized where conclusions can be drawn and analyzed as a whole, and research themes provide access to publications which can respond to research questions. Related keywords being used have also been compiled. Three selection filters were used for the purpose of choosing publications and obtaining samples related to a specified area. Excluding repetitive publications is important for the prevention of same data repetitions; thus, all repetitive documents are excluded. All publication titles were scanned one by one, and publications not related to the subject and research themes were excluded. All abstracts and keywords were scanned as a last selection filter, and items not related to the theme were excluded. The research model and process of the work are depicted in Figure 1.

The PRISMA flow diagram is presented in Figure 1. The minimum evidence-based set of components required for reporting in meta-analyses and systematic reviews is known as PRISMA. Although it can also be used as a basis for reporting systematic reviews of other types of research, most notably the evaluation of interventions, PRISMA is primarily concerned with reporting reviews that analyze randomized studies.

4. Data Analysis and Findings

The study began with the definition of research terms and the analysis of their status in the literature. Research terms are synonymous and closely related to the themes of grand challenges and multinational enterprises. All data obtained from the database using research terms are presented in

Table 2. Main information.

Description	Results
ABOUT DATA
Timespan	2013:2023
Sources (Journals, Books, etc.)	3724
Documents	7000
Annual Growth Rate %	2.23
Document Average Age	4.62
Average citations per doc	14.85
References	184,097
DOCUMENT CONTENTS
Keywords Plus (ID)	5508
Author’s Keywords (DE)	10,860
AUTHORS
Authors	9581
Authors of single-authored docs	1096
AUTHORS COLLABORATION
Single-authored docs	1290
Co-Authors per Doc	2.68
International co-authorships %	37.3
DOCUMENT TYPES
Article	3181
Book chapter	317
Review	208
Proceedings	18

.

As indicated in Table 2, the primary data set comprises the annual growth rate in the area over the past decade, along with more detailed information sourced from the literature. The annual production rate of documents has increased by 2.23%. Most of the research has been carried out by more than one author. There are 1290 single-authored documents, the average number of authors per document is 2.68, and the international co-authorship rate is 37.3%. The most common document type in the literature is the article. The number of articles is 3181. The growth rate per year in the area is shown in Figure 2.

According to Figure 2, the annual scientific production is a graph showing year-to-year changes in the literature. This graph illustrates a steady increase in the number of publications over the years. In 2023, 440 publications were produced in eight months, and this number is expected to decline again. This is due to the inclusion of publications in the first eight months of the study. There were 600 publications, reaching a peak in 2022.

Figure 3 illustrates the most published journals. The most widely published journal is the Journal of International Business Studies. It is ranked second in the International Business Review and third in the Journal of World Business. The aim of our research was to conduct a systematic literature analysis of publications based on the relationship between multinational enterprises and grand challenges, so it is not surprising that most publications are published in journals in the field of business and management. Publications on this subject are published under the sustainability journal, which has the feature of being a multidisciplinary journal with the most publications.

4.1. Word Cloud Analysis

According to R’s word cloud analysis of the Bibliometrix version 4.3.1 package, Figure 4 shows the word cloud visually.

According to Figure 4, the purpose of using a word cloud for research terms is to study the most used terms, which means that most of the analysis is carried out in these areas. A word cloud, also known as the Tag Cloud, converts text data into typically single-word identifiers visualized according to the relative value of the color in the cloud [49]. The size and place of every word is very important. The larger the word means that most of the work is concentrated in these areas. The most concentrated areas of our work are performance, multinational enterprises, foreign direct investment, management, firms’ innovation, knowledge, international business, and impact. Words written in smaller letters indicate potential directions of work [50]. The smaller terms are dynamic capabilities, subsidiaries, sustainability, entrepreneurship, productivity, corporate social responsibility, globalization, and institutions. A word cloud cannot just describe the highest frequency; in other words, it can explain the relationship. Word clouds are used to locate the center of the written text [51].

4.2. Co-Occurrences of Research Terms

According to Figure 5, co-word analysis, which is an analysis of the synthesis of keywords, was carried out to better understand the data. Co-word analysis is a bibliometric method that enables the analysis of co-occurring words and the identification of connections and exchanges between the subjects of research and emerging trends within a field.

As shown in Figure 5, twelve clusters were identified in

Table 3. Clusters of word co-occurrence measures.

Cluster Number	Items
Cluster 1	Africa, Asia, Business Sustainability, Corporate Performance, Developed Market, Hong Kong, India, Indonesia, Japan, Japanese Mnc, Korea, Latin America, Malaysia, North America, Social Trust, Sub Saharan Africa, Thailand
Cluster 2	Chinese Firm, Chinese Mne, Cross Border Merger, Internalization, Parent Company or Firm, Technology Transfer, R&D Internalization, Transaction Cost Theory, Transition Economy
Cluster 3	Carbon Emission, Carbon Footprint, Eastern Europe, European Union, Germany, Hungary, Innovation Policy, Ireland, Netherlands, Poland, Sweden, United State, Tax Haven
Cluster 4	Canada, Cultural Dimension, Greenfield, Sustainability Practice.
Cluster 5	Artificial Intelligence, Blockchain, Climate Change, Digital Technology, Digital Transformation, Grand Challenge, Grand Societal Challenge, Humanity, New Technology, Social Sustainability
Cluster 6	Ghana, African Countries, Social Capital, Social Responsibility, United Nation
Cluster 7	Agriculture, Biodiversity, Food, Food Security, Smart City, Sustainability Transition, Water.
Cluster 8	Environmental Sustainability, Green Chemistry, Mindfulness, Open Innovation, Renewable Energy, Societal Challenge, Sustainability, Sustainable Development.
Cluster 9	Advanced Economy, Australia, Business Relationship, New Zealand, SMEs, Taiwan.
Cluster 10	Pandemic, Global Mobility and Work, International Business Travel.
Cluster 11	Social Innovation, Social Problem, Social Work.
Cluster 12	Environmental Regulation, Natural Environment

.

Table 3 depicts the list of terms of the twelve clusters based on the analysis. The terms that are most frequently encountered are grand challenge, sustainability, host country, and sustainable development. Many of the co-occurrence terms pertaining to both the grand challenge and multinational enterprises are associated with environmental concerns. Ideas directly tied to international business have resulted in the development of many country names. The fact that countries in Asia and Africa belong to the same cluster raises the possibility that the most challenging aspects of country-to-country collaboration are related to the similarities and closeness of the countries involved in multinational cooperation. European countries make up the third cluster of nations. There seems to be a relationship between the terms that co-occur in each cluster. It is evident that scholars and practitioners in both developed and developing nations are becoming increasingly aware of the instrumental and normative justifications for engaging in socially responsible activities. This awareness is manifesting in a notable increase in constructive contributions to the environment and society in which they operate [52]. Non-Western situations provide an additional layer of complication since theorization and empirical evidence now in use are primarily focused on developed country contexts [37]. Current research suggests that distinct institutional rules, socioeconomic circumstances, actor configurations, and challenge patterns have been brought about by the circumstances of rising nations [44,53]. Consequently, studying distinct institutional sub-environments and a range of social factors that may have implications on the larger issues raised by these contexts is made easier in non-Western contexts [16]. The fifth cluster, which encompasses the themes of the grand challenges of climate change and social sustainability, comprises co-occurrences such as artificial intelligence, blockchain, digital technology, digital transformation, and new technology. While the development of technological opportunities and digitalization are important factors in the analysis, it can be said that they lead to a significant accumulation in the field. The significance of environmental sustainability and green chemistry concepts, energy security, global infectious disease control, and the multidisciplinary research and development challenges exemplified by global initiatives to reduce extreme poverty and hunger were some of the co-occurring themes pointed out [38]. To reduce disease and boost yields, chemical inputs are essential to modern agriculture. Moreover, the most poisonous and polluting products are pesticides and fertilizers. Their purpose is to eliminate and contaminate fungi, germs, and insects [8]. The effects of pollution, resource constraints, climate change, war, and other socio-ecological challenges are no longer problems that can be mainly observed in geographically remote and economically backward countries [41].

4.3. Research Themes Analysis

In Figure 6, the thematic map of the vertical (degree of development/intensity) and horizontal (grade of importance/centricity) axes is shown as bubbles in a four-quarter chart [54]. The word formations of the cluster determine the size of the balloon. The X-axis shows the network cluster centralization or the degree of interaction with other graphical clusters and measures the importance of a work theme. The Y axis represents the density, a measure of the internal strength and theme growth of a cluster network [48,55,56]. Themes can be classified into four groups according to concentration and intensity [48]. Motor themes (first quarter, top right): well-developed and important research area themes to configure a research area; niche themes: themes of very special and limited interest; emerging or decreasing themes (third quarter and bottom left): themes with low centralization and low intensity, representing themes that are at least developed and marginal; core themes (fourth quarter, bottom right): high-centricity and low-intensity themes that are important but not yet fully developed in research [30,48]. These topics are vital for interdisciplinary research topics.

According to Figure 6, both motor and niche themes include multinational enterprises, foreign direct investments, and firms. The fact that a single cluster is in both areas indicates that these terms both indicate a well-developed area and that there are new and special areas that will attract attention. Moreover, there are basic themes in the most scholarly production of metaphor research. Basic themes include performance, innovation, and impact. Niche themes are represented in a cluster including themes such as corporate social responsibility, entrepreneurship, and internationalization. Both emerging or declining and niche themes contain themes such as management, governance, and business.

5. Discussion and Conclusions

The concept of the GCs has the potential to facilitate advancements across several different sectors, including the scientific and engineering communities, as well as among students, journalists, the public, and their elected representatives. This is achieved by fostering a risk-averse mindset, promoting a recognition of possibilities, and encouraging an immediate commitment [41]. It can be said that in the clustering of co-occurrence terms, what matters is the place each term deserves. The analyses in the study play a complementary role. The research questions that trigger our research are the core issues that closely affect most countries today. The objective of this review is to identify the most concentrated terms in the literature, co-occurrence terms, common interests revealed by research, and interests that have not yet been sufficiently developed. This will be achieved through the utilization of the scientific mapping method. In the most intensive terms, the emergence of expressions such as entrepreneurship, corporate social responsibility, performance, knowledge, and management indicated that grand challenges and intensive interest in the field of multinational enterprises deserve a place in research. In the analysis of co-occurrence, a very wide range of terms appears. The terms in which each co-occurrence cluster is connected appear to be terms that are closely related to each other. It can be said that countries in proximity have a common understanding of their shared major problems. Asia, Africa, Europe, and other countries may emerge together in different clusters depending on whether the major challenges they are struggling with are similar or identical.

In terms of collaboration, technology-oriented digital solutions appear to stand out in work on grand challenges. The combination of the terms ‘grand challenges’, ‘innovation’ (open and social), ‘technology transfer’, ‘R&D internalization’, ‘digital transformation’, ‘technology’ and ‘artificial intelligence’ in the literature of multinational enterprises shows that these themes are used as a way and a tool to solve grand challenges. The process of transferring technologies from their source to other individuals, groups, or locations is referred to as technology transfer [57]. Technology transfer is an important step toward becoming a somewhat technically competent social entrepreneur who can use innovations in technology to address social issues. This helps to refocus innovation ecosystems and systems on solving socio-technical problems. Technology transfer can stimulate innovation, competitiveness, and growth in various sectors and regions. Furthermore, it can combine the resources and expertise of multiple stakeholders to address global challenges, including those related to security, health, and climate change. Technology transfer can also create value for both academia and industry, creating new products, services, patents, revenue, and collaborations. Despite the relevance of the topic, the limited literature on the subject is mostly narrow and anecdotal [58,59]. Major challenges, identified as transcending national borders but potentially solvable through science, technology, and innovation, are gaining increasing interest [5].

The solutions include forms of cooperation between governments, private firms, and public and third-sector organizations [5]. There are two principal ways in which GCs and innovation are related. These are not necessarily mutually exclusive but rather can be considered as two distinct approaches. Firstly, innovations can be inspired by external challenges and made more capable of meeting them. Secondly, they can have unanticipated side effects and create new challenges. There is a clear and direct correlation between broader socio-technical transformations and the formulation of innovation policies to address significant societal issues. The call for a reconsideration of the fundamental theoretical frameworks of innovation systems and ecosystems, as developed in the fields of innovation management and economics, is driven by the need to establish a more profound connection between the technological and social dimensions of innovation processes and technological advancements. The relationship between corporate innovation, internationalization efforts, and GCs is becoming an increasingly prominent area of focus within the IB literature. The primary methodology employed in studies within this field is qualitative, with case studies forming a significant component of the research design [12].

More attention needs to be paid to unrecognized terms that have emerged from the thematic map, and more attention should be given to them in the future. The terms corporate social responsibility, entrepreneurship, and internationalization refer to the gaps in the literature as relative terms. It is of the highest importance to gain an understanding of the body of knowledge that falls under the umbrella of concepts, such as corporate social responsibility (CSR), non-market strategies, or sustainable development. From a purely strategic standpoint, the IB’s research on CSR and sustainability provides insights and conclusions that demonstrate how businesses may utilize CSR and sustainability investments to reduce risks and adopt a more comprehensive approach to their responsibilities.

The context of developing countries also yields a wide range of results, from the completely positive and development-oriented effects of CSR to its negative effects, which include a diminished or contested responsibility for development and the tackling of major challenges. Therefore, there is a real need to focus on conceptualizing GCs in developing country contexts. It is essential for academics to identify and examine the key issues that are prevalent in developing nations. To do so, it is necessary to gain a deeper understanding of the diverse actor groups that are involved in resolving these issues, as well as the various mechanisms, actions, and processes that these issues give rise to. This understanding may, in turn, inform the development of alternative models. Increased interest has been seen in the fields of CSR study, business research, and application due to the significance of institutional involvement and innovation in the face of the GCs of heterogeneous environments. Companies have an obligation to go above and beyond legal requirements to satisfy the needs of various stakeholders [39,60,61]. The increasing pressure of stakeholders has focused on CSR in their own countries by transferring socially irresponsible practices to foreign counterparts. There is an interesting shift in the interaction between the homeland and host country pressures on MNE’s CSR actions [45].

As a result, an intense effort has been made around the world to understand, combat, and prevent wicked problems. Trade unions and partnerships are business models that make business relationships and the nature of business compulsory throughout the world. It is necessary to have great power to solve GC and wicked problems, and it is impossible for a single country to cope with these problems alone. GCs can be solved more easily with multi-national business structures, and more effective results can be achieved. The goal is to protect the world from these wicked problems. This research revealed the state of the literature in this field, and we saw that it was a growing body of literature. This research indicated that technology, innovations, and CSR need to be studied more actively to solve GCs and that the field will develop depending on the performance of entrepreneurs who are aiming for internationalization.