This study aimed to explain the importance of the tie-in
between institutional potential and social entrepreneurship in encouraging the
creation of job ventures and MSME competitiveness in Indonesia. The new
institutional theory advises economic and social systems to reform institutional
barriers to improve productivity and efficiency. Business prospects are mostly
created by institutional potential. The consistency and interaction between
institutional and entrepreneurial potential-shaping factors, however, was not
emphasized in earlier research. Mixed methods were used, with basic concepts
focusing on new institutional economic theory. The results showed that
standardization, commercialization, technology, productivity, invention, social
capital, and human capital strengthened institutional potential and social
entrepreneurship. This created more ventures and encouraged competition.
However, there is a need to eliminate institutional barriers to improve the
efficiency and productivity of the socio-cultural-economic systems. The
correlation between institutional potential and social entrepreneurship
resources provides business opportunities and improves competitiveness.
Moreover, it regulates efforts, speeding up the achievement of socio-economic
equity. Policy implications should regulate and reform institutional barriers
to improve the functionality of the socio-cultural-economic system.
Author(s)details:-
P. Eko Prasetyo
Department of Development Economics, Faculty of Economics, Universitas
Negeri Semarang, Indonesia.
Andryan Setyadharma
Department of Development Economics, Faculty of Economics, Universitas
Negeri Semarang, Indonesia.
Nurjannah Rahayu
Kistanti
Department of Development Economics, Faculty of Economics, Universitas
Negeri Semarang, Indonesia.
Please See the book
here :- https://doi.org/10.9734/bpi/crbme/v8/469
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