Economic Business Research Articles

Ecotourism Development Strategy of Mangrove Forest in Kurau Timur Village, Koba District, Bangka Tengah Regency

East Timur Village has pristine mangrove areas. It has much potential that can be developed, one of which is mangrove ecotourism which is directly managed by the people of East Kurau Village. Mangrove ecotourism still need to optimize its potential tourism destination object. The research aims to formulate a development strategy for Mangrove Ecotourism in East Kurau Village, Koba District, Central Bangka Regency. The research uses a qualitative approach with IFAS (Internal Factors Analysis Strategy) and EFAS (External Factors Analysis Strategy). The data is collected through in-depth interviews with related stakeholders, questionnaires distributed to tourists, and field observations. Moreover, the indicators used to measure the data include accessibility, infrastructure, and other supporting aspects. The ecotourism strategy is answered using the SWOT analysis method. The results from matrix calculations of IFAS and EFAS show that the value of the X-axis was 0.93 and of the Y-axis was 0.88. This indicates that the strategic position was at the quadrant I, with the strategic formulation of S-O (aggressive strategy). Some strategies have been formulated, including: Supporting mangrove conservation and creative economic business management; Establishing cooperation in providing supporting infrastructure; Optimizing cooperation in providing education on the benefits of mangroves; and Increasing the government’s commitment to mangrove development.

Shedding light on the efficiency of the product-service system in waste from electrical and electronic equipment: A social media analysis of consumer tweets

Due to growing concerns about electronic waste (e-waste), manufacturers are constantly pressured to adopt sustainable product development. In this regard, a product-service system (PSS) is a circular economy business model that offers a potential solution. Consumers are considered to play a vital role as key stakeholders in waste management and PSS. Although a substantial amount of research has been conducted on the consumer-facing sustainability aspects of PSS, most studies have neglected waste management in product-oriented PSS. On the other hand, research has either discussed sustainability theoretically or used traditional methods such as surveys to obtain consumers' opinions regarding the functionality of PSSs and the sustainability of their programs. Consequently, in the present study, the success of product-oriented PSSs in various aspects of waste management is evaluated utilizing a method centered around social media as the primary source of consumer feedback through machine learning (ML) algorithms and artificial intelligence (AI) methods. The novelty of this study stems from its determination of the significance and level of consumer satisfaction over an extended period to identify major topics among consumer opinions on social media. The proposed method was used in Waste Electrical and Electronic Equipment (WEEE) to evaluate leading corporations, such as Apple, Samsung, and Google. In addition, the Delphi method was implemented, and the reasons behind extracted trends are discussed based on experts' opinions. The results indicate that ‘cost,’ ‘trust,’ ‘convenience,’ ‘awareness and advertisement,’ ‘benefits,’ and ‘data privacy and security’ were the major topics identified. Moreover, ‘cost’ was the most important factor in determining whether consumers participate in waste management programs. Finally, this study can provide businesses with a six-year guide on how consumers have responded to their programs and concepts regarding WEEE.

The knowledge map of gender equality in cross-cultural communication: A bibliometric approach

It is urgent to solve the gender issues in global cross-cultural communication. Countries worldwide should responsible for achieving gender equality (SDG5). Hence, the study aims to portray the knowledge map of the gender issue in intercultural communication to explore the research status and future potential. The study used CiteSpace to conduct a bibliometric method within 2728 English articles on cross-cultural communication and gender equality topics from the Web of Science (WoS). After cluster analysis and time series analysis, this study emphasis the continued attention and increasing trend of publications and elaborates on the critical authors, institutions, and countries of research on this issue. The results introduced Putnick as the dominant author contributed to the topic. The University of Oxford ranked the top1 in the institution cooperation relationship. Europe countries and the United States have made major contributions and influenced Asian and African countries, such as Burkina Faso, North Macedonia, and Kosovo. Gender issues in Asia and Africa are getting much attention. The keyword clusters formed by the authors' cooperation include gender equality, life satisfaction, network analysis, and alcohol use. In addition, childbirth technology, patient safety competition, life satisfaction, capital safety, and sex difference are the key word clustering results of institutional cooperation. At the level of national cooperation, internet addition, risk sexual behavior, covid-19 pandemic and suicidal idea have become the main keywords The results of keyword cluster analysis show that gender role attribute, psychological properties, dating policy, professional fulfillment, and entrepreneurial intention have become the main topics in the current research. The research frontier analysis reflects the importance of gender, women and health. The research on self-efficacy, diversity, image, life satisfaction and choice has become the trend of cross-cultural communication and gender issues. Furthermore, abundant achievement emerged in the subjects of Psychology, Education, Sociology, and Business economics. Geography, Language and Literature, Medicine, and Health industries also have been highly influential in recent years. Therefore, the conclusion suggests the studies of gender issues can be further deepened into more authors, areas, subject and other multiple cooperation sectors.

Application of Business Model Canvas as a Business Strategy in Creative Economy Businesses in The Field of Photography in Makassar City

This research aims to find out how the application of the canvas business model has been carried out by creative economy business actors in the field of photography and provide alternative strategy options to develop their business. This research is descriptive research with a qualitative approach, data collection techniques are carried out using observation, interview, and documentation methods. The results of this study indicate that the business run by creative economic businesses in the field of photography is part of a business model canvas consisting of 9 blocks where the results of the SWOT analysis that has been carried out, there are four strategic options for creative economic businesses in the field of photography consisting of strengths opportunities (SO), weakness opportunities (WO), strength threats (ST), and weakness threats (WT). Of the four strategy options, the right strategy to be developed in the creative economy business in photography is weakness opportunities (WO). From the results of the mapping that has been carried out by researchers using the business model canvas and alternative strategies, researchers assess that businesses that have been running can apply the business model canvas as an alternative business model and the strategies that have been given by researchers can be implemented by creative economic businesses in the field of photography to increase business income.

Social Risk Management and its Implications on the ESG Agenda: An Analysis of the Banking Sector in Brazil

Purpose: Inquiring how the practices of the social dimension of the ISE-B3 relate to the ESG agenda and what they represent for the social issue, the study assessed the social sustainability practices regarding social and labor relations of four banks listed in the ISE-B3 portfolio. Method/design/approach: As an exploratory study, the research applied a documentary analysis to the social dimension of the ISE-B3, delimiting itself to four companies from the banking sector in Brazil, in the last four portfolios published. Considering 165 selected questions, we opted for a statistical percentage treatment that expresses the company commitment index on social sustainability inquired in the questionnaires. Results and conclusion: The data indicate that the four companies express a commitment index ranging between 74% and 89%, which is considered a significant level. However, the data also indicate that social sustainability is more focused on social risks, which represent a threat to business value, than on the social impacts on the publics affected by the company operations. Research implications: The study can contribute to a better understanding of the challenges of addressing the social dimension of sustainability in the face of the interest in making the business an economically attractive investment in an essentially economic business model. Originality/value: The study can contribute to new perspectives for developing Corporate Social Responsibility models, so that social indicators can be directed to the impacts on the target publics.

Circular economy and sustainable development goals: Exploring the potentials of reusable modular components in circular economy business model

Circular economy (CE) is widely recognized in the built environment as a crucial strategy for improving construction industry sustainability. This strategy can meet multiple Sustainable Development Goals (SDGs) and offer effective solutions to environmental issues. Prefabricated modular building systems have proven to be a circularly viable method. This opens up endless possibilities for circular building systems. However, the selection of materials and preparation of sustainability strategies are still incomplete, hindering CE concepts' translation into practice. Moreover, few studies on the sustainability of modular building components and materials have been conducted, with most focusing only on individual aspects without addressing a comprehensive approach. This study proposes a topological interlocking system for designing reusable modular components that maximize sustainability. A two-stage evaluation method (AHP-TOPSIS) is used to construct an evaluation index based on the design and material of a building component. By incorporating CE strategies for reuse with a topological interlocking system, this study explores the potential of reusable modular components in sustainable construction and lays the groundwork for a circular economy business model (CEBM).

The circular economy of electric vehicle batteries: a Finnish case study

AbstractThe automotive industry faces challenges because of the electrification of vehicles and the rapidly increasing need for electric vehicle batteries (EVBs). Raw materials availability is limited; however, there will also be a significant number of end-of-life (EOL) batteries. This creates various circular economy (CE) business opportunities for EVB manufacturers, third-party providers, and other stakeholders. However, not all CE solutions are sustainable or economically feasible. In this study, through the use of case studies, expert interviews, and a survey, we determined the current state of the EVB CE in Finland, the possible options for utilizing EOL vehicle batteries, and the greatest barriers for the EVB CE. We found that some EVB-related CE applications are not supported by the government and legislation, for example environmental regulations and building standards. CE opportunities include a shorter lead time for some components, which makes them attractive for EOL applications.

Motivators and barriers of circular economy business model adoption and its impact on sustainable production in Malaysia.

The circular economy concept is popular among developed countries contributing to sustainable production, efficient resource utilization, a new economic model, and higher skill job creation. In production and consumption, it is inevitable in our modern life that we are used to the traditional linear economy cradle-to-cradle model. With the gap in developing countries within the Southeast Asia region, this research aims to understand the motivators and barriers to circular economy business model adoption among the manufacturing firms in Malaysia. Subsequently, the impact of sustainable production will be studied based on the circular economy business model adoption. Using the Theory of Planned Behavior and Partial Least Squares Structural Equation Modeling, this study assesses the responses of 102 respondents from various industries with environmental management systems within Malaysia. Survey-based primary data was gathered to understand motivators and barriers that negatively influence the circular economy business adoption, affecting sustainable production. The findings show that motivators have a positive impact while barriers have a negative impact on circular economy business model adoption. Apart from the barriers and motivators, the research also assesses the level of circular economy adoption among manufacturing firms with certified environmental management systems. This implies a general overview for manufacturing firms in Malaysia regarding circular economy adoption and contributes to the studies done in developing nations. In conclusion, motivators positively impact the adoption of the circular economy business model, while barriers have a negative effect. In addition, adopting the circular economy model has a positive relationship with sustainable production.

A U-shaped relationship between real financialization and financial risk: Evidence from a single threshold model

Financialization plays an important role in promoting economic development. This paper discusses the motivations and impacts of enterprises' financialization, and introduces the current state of China's economic development and the current state of China's business economy to deepen the understanding of economic trends. It also examines the impact of enterprises' financialization on financial risk using a threshold model. The results show a U-shaped relationship between entity enterprises' financialization and financial risk: financialization helps reduce financial risk when the level of financialization reaches 0.45%.

The effect of consumption and production policies on circular economy business models: A machine learning approach

AbstractThe circular economy (CE) is attracting increasing interest, as it can bring environmental, social, and economic benefits. However, policymakers and scholars appear to concentrate more on the production side of CE, while consumption, and particularly policies that affect consumption have received less attention and their effect is ambiguous. This paper investigates the effect of CE consumption policies on circular economy business models (CEBMs) in firms, but also examines the interplay this type of policies have with CE production policies to have a broader picture of the circular economy policy framework and the relevance of each type of policy on firms. While previous studies assume rational and passive consumer behavior, this paper borrows from a natural resource‐based view and stakeholder theory, arguing that consumers have a proactive attitude toward the consumption of environmentally friendly products. Moreover, we use institutional theory as an analytical framework for modeling the effects of a particular policy framework on the CEBM. Our analysis combines classical econometric methods with machine learning approaches, employing data from the EU. The results show that CE policies aimed at promoting consumption have a direct and positive effect on CEBMs. This paper also confirms that a wide portfolio of CE policies on production and consumption has a greater effect on the development of CEBMs, due to the complementarity of CE consumption and production policies. Moreover, we show that in interaction with CE production policies, CE policies on consumption have an even greater effect on CEBMs in firms than would have been anticipated.

The intellectual structure of gender equality research in the business economics literature

In both the public and private sectors, gender equality is a major issue faced by modern management. It is also a primary concern for the global sustainable development defined by the UN 2030 Agenda. Gender equality, as a research topic, has been explored from many different social, economic and political sides; nevertheless, gender equality in business economics is still a very promising research field since the everchanging global organisational environment requires frequent updates and polysemic approaches. The aim of this study is to identify and visualise the intellectual structure and dynamics of gender equality research on business economics literature through a bibliometric quantitative literature analysis. Our results found 12 main lines of research. They also identify the trending topics, sources of knowledge, and literature dissemination paths along these lines between 2001 and 2020. This work contributes to the field of gender issues by showing its intellectual structure and providing a research agenda and identifying future research lines and gaps in the area.

A hybrid fuzzy MCDM approach for prioritizing the solutions of resource recovery business model adoption to overcome its barriers in emerging economies

The resource recovery business model (RRBM) involves producing and utilizing secondary raw materials from waste streams. Overcoming the barriers small and medium-sized firms (SMEs) face in developing countries during the transition to the RRBM is a considerable challenge. RRBM has quite different barriers than other circular economy business models (e.g., product life extension, product-service systems, etc.). The aim of this study is to present a hybrid multi-criteria decision-making (MCDM) methodology to evaluate possible solution strategies by analyzing RRBM barriers. First, a comprehensive literature review was conducted on the barriers to implementing RRBM. Working with the expert decision-making group through semi-structured forms, the micro, macro, and Meso-level barriers were finalized by considering the emerging economies. The importance levels of the twenty-five barriers were determined in the second stage using the Improved Fuzzy Stepwise Weight Assessment Ratio Analysis (IMF-SWARA) method. With the IMF-SWARA method, it was convenient to get straightforward, expert opinions, and inconsistency was no problem. In the third stage, eight main solution strategies were analyzed to see to what extent they could overcome the barriers. At this point, the Fuzzy Measurement Alternatives and Ranking according to Compromise Solution (F-MARCOS) was used to evaluate the decision-maker's opinions more accurately, which may not be confident within the scope of the criteria. While the most critical barriers to be considered are collaboration problems, global secondary material supply chain problems, and quality problems of the recovered resources, the solutions to be considered are financial support, design for circularity, and industrial symbiosis. In addition, a comprehensive sensitivity analysis was performed to test its validity after the proposed model was applied. This study's key contribution is to highlight the barriers that may occur in the context of emerging economies during the adoption of the RRBM as well as the solutions that should be prioritized. Thus, it became evident which actions SMEs, representing the most significant proportion of businesses in emerging economies, should take to execute the resource recovery business model.

Culture and Economic Resilience of “Baduy Tribe” in Indonesia

The Covid-19 virus has a negative impact on the world economy. However, the economic activities of the "Baduy indigenous people" who live in the interior of Lebak Regency, Banten Province, were not hindered during the Covid-19 pandemic. The main purpose of this research is to see the relationship between culture and economic resilience strategies, especially in the "Baduy community” during the Covid-19 pandemic crisis. Another uniqueness of the "Baduy Tribe" culture, namely simple happiness and healthy and frugal living. The method used in this research is quantitative. The data used are primary and secondary. 100 respondents were obtained. Secondary data is obtained from the interview process with the resource person. Based on this explanation, it can be concluded that there is a positive influence between culture (customs), namely culture (simple happiness) and culture (frugal and healthy living) on the economic resilience of the “Baduy community”. This finding certainly raises a new hypothesis that happiness can influence a new development in the field of economic resilience. In the future, it seems that there needs to be more collaborative research between social science and business economics for the development of economic resilience strategies for a region or country.

Recycling high impact polystyrene: Material properties and reprocessing in a circular economy business model

An account is presented of successfully implemented Extended Producer Responsibility (EPR) with recycling to high value products, to help overcome barriers and generate confidence in moving towards Circular Economy (CE) business models. A template for organisations proposing to recycle a thermoplastic is provided by describing appropriate tests and considerations in implementing the recovery and re-use of high impact polystyrene (HIPS) based on a practical, industry case. Simulating the repeated 100% closed loop reprocessing of production scrap, original HIPS has been injection molded to produce tensile and impact test pieces, reground and reprocessed eight times. Assessing the present results together with literature, repeated recycling of production scrap is possible without the need for a remedial compounding step, or changes to processing parameters. Integral to the EPR model is recovery of plastic from returned end-of-life (EoL) products, and in relation to the in-use environment, studies of the effects of UV exposure on virgin material show that significant property degradation can occur. However, with indoor use, as in the present case, this is not seen. Within the CE business model it is desirable to use blends of recovered HIPS originating from different original resin manufacturers. Feeding dry blend regrind directly to the molding machine proved satisfactory, avoiding the need for a compounding/pelletizing step. As an outcome of this study, products are being successfully manufactured from 100% HIPS recovered from EoL products in an environmentally and economically positive CE plan.

Shaping the future of sustainable energy through AI-enabled circular economy policies

The energy sector is enduring a momentous transformation with new technological advancements and increasing demand leading to innovative pathways. Artificial intelligence (AI) is emerging as a critical driver of the change, offering new ways to optimize energy systems operations, control, automation, etc. Developing a competitive policy framework aligned with circular economy practices to adapt to the trends of the rapid revolution is crucial, shaping the future of energy and leading the sector in a sustainable, equitable, and impartial direction. This study aims to propose an AI-driven policy framework that aligns with the circular economy business model to address the transformation trend in the development of energy policies through a multidisciplinary approach. The study identifies key trends, various approaches, and evaluates the potential of AI in addressing the challenges. The AI-driven policy paradigm outlines a comprehensive framework and roadmap to harness the potential of AI through a forward-looking policy framework that considers the rapidly changing landscape and the essence of the circular economy. The proposed novel framework provides a roadmap for researchers, governments, and other stakeholders to navigate the future of energy and unlock the potential of AI for a sustainable energy future.

A Triple-Layered Business Model Framework for Social Media

Social media are increasingly based on commercial business models. Scientific literature and articles in the mass media have been available for some time discussing individual aspects of economic business models and their environmental and social impacts. Often these statements are contradictory, biased towards a certain aspect, and without context by comparison with substitute goods that cover similar needs. This paper aims to develop a framework to understand the business models of social media, including their social and environmental impact, and to identify starting points for innovations. In addition to the economic layer of the business model, the environmental and social layers are also discussed. The latter two are still underrepresented in the domain of business model analysis. First, the elements of the economic layer of social media business models are defined. Then it is shown how the single economic view can be expanded to include the environmental and social impact. Finally, we argue why the different socioeconomic backgrounds of involved stakeholders should be considered to avoid a biased, ethnocentric view of business models.

Theory of Boundedly Rational Planned Behavior: A New Model

Abstract The prime intent of this article is to propose a new model in the paradigm of behavioral and business economics. To attain this objective, the study modifies a famous behavioral model of the Theory of Planned Behavior (TPB), which is based on the generalized unbounded rationality of neoclassical economics in dictating actual human behavior. Based on the idea of bounded rationality expounded by Herbert A. Simon, TPB has been modified by replacing intention variable with bounded rationality as the antecedent of actual behavior. The new model has been tested collating data collected from the participants of a Microfinance Institute currently operating in Bangladesh. Data were analyzed following the procedure of structural equation modeling (SEM). The findings of the experiment show that the new model of TBRPB’s predictability is observed to be much better than TPB which may be regarded as a basic contribution to the existing body of knowledge.

Economic Business Development for the People Through Optimizing the Role of Islamic Boarding Schools in a Pandemic Period

The purpose of this study was to determine the model of developing the people's economic business through optimizing the role of pesantren during the pandemic and to design the role of pesantren in supporting village economic resilience. This type of research is a field research. The research location is located in Darud Da'wah Wal-Irsyad Islamic Boarding School (Ponpes) Mangkoso, Barru Regency. The approach in this research is a phenomenological approach and a participation action research approach. The analysis technique in this study uses Huberman and Miles qualitative analysis data. The conclusions of this study are (1) the economic business development model of the people through optimizing the role of Islamic boarding schools during the pandemic at the DDI Mangkoso Islamic Boarding School has been running well; (2) the role of pesantren in supporting village economic resilience is very potential.

A Study on the Differences in LDSP Business Models between Korea, United States, Japan, and China

This paper is the results of studies of subjects that accord with the recent digital transformation, digital twin, sharing economy, logistics O2O, logistics digital platform, etc., and can be jointly used and can collaborate with AI, Big Data, AMR, AGV, UAM, etc. The core studied field is the logistics digital sharing platform(LDSP) business model, which is called an online-based logistics sharing economy business model. Based on South Korean LDSP, the models in the same field were studied with companies representing the United States, Japan, and China. Due to the influence of the COVID-19 pandemic, instead of studies abroad, studies were conducted with online, bibliographic studies, studies in which experts in the relevant country participated, and the heads of South Korean corporations installed in the relevant countries through general and in-depth interviews. Using the business model canvas(BMC) as a research methodology, nine components of the BMC were used as a means of comparison of LDSP business models by country as key factors. As a result of the study, differences were derived from components VP, CRM, RS, KA, and KP in the LDSPs in South Korea and the United States, and differences in components VP, CRM, RS, and KR were studied in the Japanese LDSP. In comparison with LDSP in China, differences were derived from components VP, CRM, and KA.

From Active Learning to Innovative Thinking: The Influence of Learning the Design Thinking Process among Students

Active learning is a set of activities that allow the student to actively participate in the learning process. Active learning can be implemented using various methods and strategies. design thinking is a creative human-centric approach used for innovation. In this article, the authors consider learning the design thinking process as a strategy for active learning. After performing a thorough literature review, the authors display the results of pilot research conducted with business economics graduate students enrolled in the Disruptive Innovations and Design Thinking elective course. The research consisted of a survey and an experiment, and it was executed as part of the project “a/AR-Learning: Active learning by applying augmented reality”. The goal was to study the effects of learning the design thinking process and whether it could be used as an active learning method in order to influence the development of innovative thinking among students. The research question was, “How does learning the design thinking process affect the development of students’ innovative way of thinking?” The results of the pilot study confirmed all three hypotheses (H1 = After learning the design thinking process, students recognize the main characteristics of innovation; H2 = Active learning of the design thinking process affects critical assessment; H3 = The innovative way of thinking developed through active learning of the design thinking process differs among students), as well as showing effectiveness and a change in critical assessment, but also the need for an even more active approach. The authors suggest that broader research be undertaken involving a bigger sample and a larger scale.