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Recognizing novel entrepreneurial opportunities arising from a crisis is of paramount importance for firms. Hence, understanding the pivotal factors that facilitate firms in this endeavor holds significant value. This study delves into such factors within a representative empirical context impacted by a crisis, drawing insights from existing literature on opportunity recognition during such tumultuous periods.

The authors conducted a qualitative inspection of 14 Italian firms during the COVID-19 pandemic crisis. The authors collected a rich body of multi-source qualitative data, including 34 interviews (with senior managers and entrepreneurs) and secondary data (press releases, videos, web interviews, newspapers, reports and academic articles) in two phases (March–August 2020 and September–December 2020).

The results suggest the existence of a process model of opportunity recognition during crises based on five entrepreneurial influencing factors (entrepreneurial knowledge, entrepreneurial alertness, entrepreneurial proclivity, entrepreneurial personality and entrepreneurial purpose).

Various scholars have highlighted that, in times of crises, it is not easy and indeed very challenging for entrepreneurs to identify novel entrepreneurial opportunities. However, recent research has shown that crises can also positively impact entrepreneurs and their capacity to identify new entrepreneurial opportunities. Given these findings, not much research has analyzed the process by which entrepreneurs identify novel entrepreneurial opportunities during crises. This study shows that some entrepreneurial influencing factors are very important to identify new entrepreneurial opportunities during crises.

Social value creation (SVC) is the primary emphasis for unifying the various issues in contemporary social entrepreneurship (SE) literature and practice since it highlights the fundamental problem of sustainability in SE business. Accordingly, SVC as an outcome of SE represents the primary drive of social entrepreneurs (SEs). However, SEs encounter multi-dimensional challenges as they work to build their SE businesses and create social value. In the current context of digitally transforming entrepreneurship scenario, this study investigates the role of SE compassion and digital learning orientation (DLO) for SVC ability of SEs.

The study utilized a quantitative survey approach for primary data collection from social entrepreneurs in Saudi Arabia. A total of 158 valid replies from social entrepreneurs were obtained for the study. Using SmartPLS (3.0), partial least square structural equation modeling was used to analyze the data.

The results validated a model of SVC in which the SE compassion and DLO positively impact the SVC ability in SEs. However, the impact of DLO in moderating the SE compassion - SVC relationship in SEs was not proven.

The study established the role of SE compassion in explaining the distinctive SVC ability in SEs. Meanwhile, given the expanding necessity for SEs to leverage digital technologies for SE missions, the study provides implications for nurturing positive outcomes in terms of SE compassion and DLO outcomes among SEs. This organized knowledge can help entrepreneurs, educators and policymakers better incorporate these concerns in SE education, and social enterprises and entrepreneurs’ developmental initiatives.

This work is pioneering in that it conceptualizes and tests a theoretical framework that links SE compassion, DLO, and SVC in SEs. Meanwhile, the study is the first to operationalize the DLO in entrepreneurs. The study thus generates fresh insights about SVC in SE amid the digitally transforming entrepreneurship scenario.