Open AccessThe role of institutional potential and social entrepreneurship as the main drivers of business opportunity and competitiveness
Author(s) -
P. Eko Prasetyo,
Andryan Setyadharma,
Nurjannah Rahayu Kistanti
Publication year - 2022
Publication title -
uncertain supply chain management
Language(s) - English
Resource type - Journals
SCImago Journal Rank - 0.395
H-Index - 16
eISSN - 2291-6830
pISSN - 2291-6822
DOI - 10.5267/j.uscm.2021.10.006
Subject(s) - commercialization , entrepreneurship , productivity , standardization , business , competition (biology) , social capital , industrial organization , institutional theory , coopetition , consistency (knowledge bases) , marketing , economic system , economics , incentive , market economy , economic growth , management , finance , political science , ecology , law , biology , geometry , mathematics
Institutional potential plays a key role in creating business opportunities. However, past studies did not emphasize on the consistency and the interaction between institutional and entrepreneurial potential-shaping factors. This research aimed to explore the role of these two aspects in spotting market gaps and encouraging competitiveness. 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.