Social development is a critical aspect of the development cycle, and is essential in transforming the development objectives of any country into tangible results and in improving the well-being of its people. Public and social sector organizations, worldwide, are key to societal and economic progress and well being, as they are always looking to improve the lives and livelihoods of their citizens through transformation that has a significant and positive impact on the society. This social development typically covers a wide spectrum of areas including inequality, gender, public health, education, employment, civil rights and public food distribution. Some of the emerging challenges faced by social and economic development are influence of rapidly ageing population on economies and societies, impact of new technological revolution on traditional industries, uncertainties of globalization, and adaptation of social security to the socioeconomic dynamics and new forms of business.
The main trends in the social economy development at the global level are transnationalization, regionalization, inclusiveness, green society, and institutionalization. On the other hand information, intellectuality, innovation and digitalization, as modern global social development trends, are quite interconnected. Thus, the informationisation of society would lead to the comprehensive use of information technologies, networking, technology platforms, rapid dissemination of new knowledge, and formation of new skills among people. In turn, this would affect the intellectuality, innovation and digitalization of the economy.