Economic Ecosystem Research Articles

Leveraging content economy for growth-external influencers or internal creators?

This case demonstrates transformation of social media ecosystem into “content economy.” From the lens of Zayan, the social media head of a personal finance and trading company, the case delves into the strategic decision on whether to enhance the company’s social media presence by leveraging external influencers or cultivate internal content creators. Along the way, the case explores the interplay between technological and sociocultural factors, which foster the content economy ecosystem. It delves into how advancements in digital platforms shape the landscape of content creation, distribution, monetization, and consumption. It presents multidimensionality of the impact created by the content economy. It highlights the deep social, cultural, and economic impact through an interaction between users, creators, brands, and social actors. Overall, this case helps business students in understanding the technological and sociocultural dynamics at play in the content economy ecosystem, and their implications on users, creators, brands, and society at large.

The Impact of Covid-19 on Tourism - (A Case Study of Deoghar)

The COVID-19 pandemic severely disrupted tourism in Deoghar, causing unprecedented economic and social challenges. Field survey data revealed that 76% of respondents experienced significant impact, with 70% of businesses completely shutting down and 36% of individuals experiencing total income cessation. The pandemic triggered a comprehensive economic breakdown, affecting small businesses, religious tourism, and local livelihoods. Transport services halted, tourist movements restricted, and local economic ecosystems collapsed. Deoghar, already identified as one of the most COVID-vulnerable districts in India, faced compounded challenges due to poor infrastructure and limited healthcare facilities. The tourism sector experienced a dramatic decline, with religious events like Shravani Mela and Kanwar Yatra canceled, further exacerbating economic distress. The pandemic's ripple effects extended beyond immediate economic losses, undermining social interactions, cultural exchanges, and community resilience. Recovery strategies must prioritize innovative approaches, infrastructure development, and comprehensive support mechanisms to rebuild the tourism ecosystem

Collaborative Governance Pada Platform Patrakomala sebagai Pengembangan Ekosistem Ekonomi Kreatif Kota Bandung

This research aims to find out how the role of the Culture and Tourism Office of Bandung City, especially the creative economy sector, collaborates in managing the creative economy. Bandung City, especially the creative economy sector, collaborates in managing the Patrakomala platform. Patrakomala platform, whose function is to facilitate multi-stakeholder collaboration to support the development of the creative economy ecosystem. to support the development of the creative economy ecosystem. As well as analyzing more deeply in depth, so that problems can be identified and can be resolved through making policy recommendations, in the process of using the Collaborative Governance approach based on the Morse & Stephens theory, (2012: 565-583) which has four indicators, namely 1) Assessment, 2) Initiation, 3) Deliberation, 4) Implementation. This research explains the process that interactions and shared norms between governance actors. governance actors. This theory aims to achieve the positive goals of each party. At the initiation stage, the development process begins with a collaborative approach, including collaborative approach, including the drafting of a creative economy roadmap, the enactment of regulations, and discussion forums such as the Patrakomala Coffee Club (PCC), a regulations, as well as discussion forums such as the Patrakomala Coffee Club (PCC) which involves creative economy actors in formulating inclusive programs. involving creative economy actors in formulating inclusive programs. stage deliberation stage emphasizes the importance of open dialogue between stakeholders to build consensus regarding the division of roles, allocation of resources, and development of sustainability strategies. development of sustainability strategies. Program implementation includes the development of Patrakomala Creative Center, incubation, exhibition, as well as competency improvement for creative economy creative economy actors, supported by mechanized

The Role of Circular Economy in Green Entrepreneurship: Sustainable Business Models

The circular economy has emerged as a transformative framework for achieving sustainability in entrepreneurship by minimizing waste, optimizing resource use, and promoting regenerative business practices. Unlike the traditional linear economy that follows a "take, make, dispose" model, the circular economy encourages businesses to adopt reduce, reuse, recycle, and regenerate principles. This study explores the role of circular economy practices in green entrepreneurship, focusing on how sustainable business models integrate environmental responsibility with economic viability. Using a qualitative research approach, this study examines case studies of green entrepreneurs who have successfully implemented circular business models across various industries, including renewable energy, eco-friendly manufacturing, waste management, and sustainable agriculture. The findings indicate that businesses adopting circular economy principles experience benefits such as cost savings, enhanced brand reputation, regulatory compliance, and long-term profitability. However, challenges remain, particularly in terms of scalability, consumer awareness, and access to financing. The study underscores the importance of policy support, technological innovation, and industry collaboration in accelerating the transition toward circular entrepreneurship. By integrating circular economy strategies into their business operations, green entrepreneurs can drive sustainable economic growth, reduce environmental impact, and contribute to global climate resilience. The findings provide valuable insights for business leaders, policymakers, and sustainability advocates on fostering a thriving circular economy ecosystem.

Legal aspects and government policy in increasing the role of MSMEs in the Halal ecosystem

Background Indonesia currently could not make it to the top ten global halal due to some external and internal factors, although it is the largest Muslim country. In the external sector, the competition map is getting tougher, while internally, there are handicaps in the form of weak public awareness of competition. As a country with the largest Muslim population in the world, Indonesia can become one of the largest markets in the world. As indicated in the Global Islamic Economic Report (GIER), Indonesia is one of the top ten countries that control the Islamic economic market, yet it fails to dominate its Islamic market. Accordingly, the government needs to play a stronger role through regulatory policies to encourage the development of the Islamic economic ecosystem in Indonesia (halal value chain). The purpose of this study is to find out and analyse the existence of Micro, small, and medium enterprises (MSMEs) in Indonesia in the world’s market for Halal products and Services. Methods The researchers have conducted a form of normative juridical research with the analytical descriptive method, namely by collecting, describing, analysing, and presenting what is (das sein) and what ought to be (das sollen). Results Support from the government and stakeholders has not been optimal in improving welfare - capital access, management, and halal certification, so the existence of the global halal ecosystem has not yet impacted MSMEs’ ability to compete competitively. Conclusions The conclusion of this study shows that the quadruple helix innovation system is capable of guaranteeing the development of MSMEs in a manner to achieves a high level of competitiveness - efficiency, and effectiveness of the products and services produced.

Ethical value co-creation in circular economy ecosystems: a case study of the textile industry

Ethical value co-creation in circular economy ecosystems: a case study of the textile industry

MOSQUE FINANCIAL MANAGEMENT AND HALAL ECONOMY ECOSYSTEM: AN ANALYSIS OF MUHAMMADIYAH MOSQUES IN SOUTH SULAWESI, INDONESIA

This research aims to analyze the financial management of Masjid Muhammadiyah in South Sulawesi Province, with a focus on the effective and efficient utilization of financial resources for Halal economic ecosystem development. The mosque plays a crucial role in the Muslim community, and sound financial management is essential for maintaining its operational sustainability and facilitating various beneficial programs and activities for the faithful. Qualitative research methodology with a case study approach was employed. Data were collected through in-depth interviews with 80 mosques Muhammadiyah in South Sulawesi and FGD with mosque administrators, financial managers, and congregants involved in the financial management of the mosque. Additionally, relevant documents such as financial reports, budgets, and financial policies were analyzed. The findings reveal that Muhammadiyah mosques in South Sulawesi province possess several strengths in their financial management. These include a commitment from mosque administrators to financial transparency and accountability, as well as the implementation of a robust accounting system. However, several challenges were identified, such as a lack of trained personnel in financial management and the need for income diversification. To address these challenges, strategic steps are recommended. First, enhancing the understanding and capacity of mosque administrators in financial management through training and education programs is crucial. Second, diversifying income sources through the development of creative and sustainable fundraising initiatives is essential. Third, leveraging information technology in financial management to achieve better efficiency and effectiveness is recommended.

Transformation and Innovation in Islamic Economics: Responding to Challenges in the Digital and Globalization Era

The Islamic economy has undergone significant development in recent decades, especially with the digital transformation and globalization affecting various economic sectors. These changes bring new challenges to the sharia economy, but they also open up opportunities for innovation and increased relevance. This research aims to analyze how digital transformation and innovation can help the Islamic economy overcome challenges in the modern era. With the Systematic Literature Review (SLR) approach, this study identifies various strategies and practices that have been implemented to improve the competitiveness of the sharia economy in the midst of global changes. The results of the study show that the integration of digital technology, such as sharia fintech and blockchain, is one of the important factors in encouraging the efficiency and transparency of sharia economic transactions, especially in the context of the global market. In addition, increasing Islamic financial literacy is also the key to ensuring that the public understands and can access financial products in accordance with sharia principles. International collaboration is also needed to create a more inclusive and sustainable sharia economic ecosystem. Overall, this study emphasizes that adaptation to digital technology and increased global collaboration are important steps in maintaining the relevance of the sharia economy in the era of increasingly digital and globalization

Sustainable strategies and circular economy ecosystems: A literature review and future research agenda

AbstractVarious social and political entities are now promoting sustainable industrialisation through cultural transformations in regulation via research, education, ethics, politics and governance. The increasing uncertainties around dealing with the scope of environmental challenges also emphasise the need to consider these issues as social‐ecological systems. Prior reviews on sustainable strategies and circular economies have not approached the literature from this angle. To address this gap, we carried out a systematic literature review to generate insights into the evolution of sustainable strategies for circular economy ecosystems. This review combines bibliometric techniques with content analysis to identify the main thematic groups and research trends. We also put forward a framework for circular ecosystem‐related sustainable strategies that may not only assist scholars, policymakers, organisations and stakeholders in advancing with their respective projects but also provide an agenda for future research on this field.

Orchestrating Sustainability: Government Platforms for Material Circulation

Public sector organizations increasingly use digital platforms to foster value co-creation among diverse stakeholders and to address complex societal challenges, such as those related to sustainable development. Different kinds of digital platforms have been recognized as potential drivers of the societal transition toward a circular economy. However, little is known about the organization, governance, and circular value outcomes of such platforms, especially those provided by public sector organizations. Following a case-study strategy, we explore how multisided digital government platforms can promote circular economy as marketplaces for residual resources. We outline the advantages and limitations inherent in public sector organizations as platform orchestrators within circular economy ecosystems. By uncovering essential factors that influence the success of government platforms in enhancing sustainability goals, this study provides both novel theoretical insights and practical guidance for the implementation of similar initiatives.

Stakeholder and customer engagement in circular economy ecosystems: A systematic literature review and research agenda

Stakeholder and customer engagement in circular economy ecosystems: A systematic literature review and research agenda

Картографирование сегментов экономической экосистемы территории

Relevance. The rapid introduction of digital technologies into economic activity has marked a new paradigm of economic analysis – the analysis of economic ecosystems. The relevance of the structural study of the economic ecosystems of territories is due to both the weak elaboration of this topic in the world and domestic scientific literature, and the practical need for the formation of scientifically based strategies for the socio-economic development of territories. Goal. The purpose of this study is to develop a methodology for mapping the economic ecosystem of the territory. Materials and methods. The object of this study is the economic ecosystem of the territory. The subject of the study is economic relations for the development of the economic ecosystem of the territory on the basis of mapping its elements. The information base of the research was scientific publications indexed in the Scopus and RSCI databases, as well as the author's results on public management of the development of economic ecosystems. The method of logical system analysis is used as a research method. Results. As a result of the conducted research, a scheme of a map of the industry and sphere of activity of the economic ecosystem is proposed, including indicators, participants, products of activity, development trends, assessment experts and conclusions on the development of this sphere of economic activity. An algorithm for mapping the economic ecosystem of the territory has been developed, which includes the stages of segmentation, the formation of maps of industries, the assessment of development projects and the formation of a strategy for the socio-economic development of the territory. Using the example of the development of the Tyumen region, the applicability of mapping segments of the economic ecosystem of the territory for public management of the development of various fields of activity is shown. The novelty of this study lies in the development of the author's approach to mapping segments of the economic eco-system of the territory, which develops the theory of modeling the structure and development of elements of economic ecosystems.

Wastewater-based epidemiology for COVID-19 surveillance and beyond: A survey

The pandemic of COVID-19 has imposed tremendous pressure on public health systems and social economic ecosystems over the past years. To alleviate its social impact, it is important to proactively track the prevalence of COVID-19 within communities. The traditional way to estimate the disease prevalence is to estimate from reported clinical test data or surveys. However, the coverage of clinical tests is often limited and the tests can be labor-intensive, requires reliable and timely results, and consistent diagnostic and reporting criteria. Recent studies revealed that patients who are diagnosed with COVID-19 often undergo fecal shedding of SARS-CoV-2 virus into wastewater, which makes wastewater-based epidemiology for COVID-19 surveillance a promising approach to complement traditional clinical testing. In this paper, we survey the existing literature regarding wastewater-based epidemiology for COVID-19 surveillance and summarize the current advances in the area. Specifically, we have covered the key aspects of wastewater sampling, sample testing, and presented a comprehensive and organized summary of wastewater data analytical methods. Finally, we provide the open challenges on current wastewater-based COVID-19 surveillance studies, aiming to encourage new ideas to advance the development of effective wastewater-based surveillance systems for general infectious diseases.

BUILDING A PEOPLE'S ECONOMIC ECOSYSTEM THROUGH THE SYNERGY OF COOPERATIVES AND MSMES FOR GOLDEN INDONESIA 2045

This article analyzes strategies for building a people's economic ecosystem through optimizing synergy between cooperatives and MSMEs in order to realize the vision of Golden Indonesia 2045. Using a literature analysis and secondary data approach, this study explores the concept of the people's economic ecosystem, the role of cooperatives, the challenges and opportunities of MSMEs, and the synergy strategy between the two sectors. The implementation of the grand theory of growth and equity was also discussed as a policy foundation. The results of the analysis show that strengthening the digital ecosystem, optimizing collaboration between stakeholders, and developing a data-based monitoring system are the keys to building effective synergy between cooperatives and MSMEs. This study concludes that with the right strategy, the synergy of cooperatives and MSMEs can be the main driver in creating inclusive and sustainable economic growth towards Golden Indonesia 2045. Policy recommendations include strengthening digital infrastructure, improving cross-sector coordination, and developing a comprehensive evaluation system to support evidence-based decision-making in the development of the cooperative and MSME sectors

Waqf Business Model (WBM): Towards A Sustainable Social Business Model on The Mainstream Economics

The Waqf Business Model (WBM) represents an innovative and transformative approach to establishing a sustainable social business model within mainstream economics, rooted in Islamic economic principles. This paper explores the current state of waqf as an alternative model for social business, emphasizing its ability to combine social impact with long-term economic sustainability by preserving assets and generating ongoing revenue. It also advocates for integrating WBM into the mainstream economy to serve as a powerful mechanism for addressing the Sustainable Development Goals (SDGs). The paper highlights the challenges faced by traditional Islamic economic institutions, particularly waqf, which have struggled due to outdated management practices and a conceptual crisis regarding the role of waqf in modern economies. Revitalizing waqf institutions requires enhancing their capabilities and aligning them with contemporary business strategies. Additionally, this paper encourages future research to explore how WBM can be fully integrated into the existing economic ecosystem. In theory, WBM provides a framework for ethical and inclusive economies, while in practice, it has the potential to create self-sustaining institutions that reduce reliance on external aid, offering an innovative solution to global socio-economic challenges by blending sustainable innovation.

Gamifying Ethical Entrepreneurship: The Role of AI in Islamic Finance

The convergence of gamification, entrepreneurship, and Islamic finance offers a unique opportunity to foster an inclusive and sustainable economic ecosystem. This study explores the synergies between these domains and the role of artificial intelligence (AI) in driving this transformation. Gamification enhances entrepreneurial endeavours by creating immersive and engaging experiences that stimulate creativity, motivation, and problem-solving abilities. Techniques such as challenges, rewards, and feedback motivate entrepreneurs to overcome obstacles and achieve their goals efficiently. Islamic finance, emphasizing ethical and fair financial transactions, complements gamification in entrepreneurship. Gamification engages entrepreneurs with Sharia-compliant products and services, promoting financial inclusion and understanding of Islamic finance concepts through interactive simulations and platforms. The synergistic interplay of gamification, entrepreneurship, Islamic finance, and technopreneurship, supported by AI, promises to create a more inclusive, ethical, and sustainable economic landscape. As the financial industry evolves, gamification empowers entrepreneurs to navigate complexities, create social impact, and uncover new opportunities in the digital economy.

Optimizing Ecotourism Elements to Strengthen the Tourism Attraction of Kerta Village, Payangan, Gianyar

Kerta Village has ecotourism potential that has not been optimized, such as the potential of waterfall attractions, MSME products, and agro-tourism potential of orange plantations. The problems faced are the optimal management of the potential owned, the lack of supporting infrastructure, and the limited capacity of the community in managing potential. This service activity aims to optimize the ecotourism potential of Kerta Village to strengthen tourist attraction. The methods used include field surveys, master plan planning, and community assistance. The results show that with the master plan for the establishment of water attractions can strengthen the tourist attraction of Kerta Village. synergy between ecotourism development and MSME empowerment is important in order to create a mutually reinforcing economic ecosystem.

Free for you and me? Exploring the value users gain from their seemingly free apps

PurposePersonal data is today recognized as an asset in the digital economy, generating billion-dollar annual revenues for many companies. But how much value do users derive from their seemingly free apps (zero-price services), and what user costs are associated with this value exchange? By adopting a human-centric lens, this article scrutinizes the complex trade-offs users face trying to capture the benefits and unperceived costs that such usage entails.Design/methodology/approachUsing a mixed-method research design, this study is anchored in empirical survey data from 196 participants in Linköping, Sweden. The authors investigate users’ willingness to pay for these services in relation to different types of costs.FindingsThe results indicate that users can derive significant value from the use of free services, which can be interpreted as a win-win situation between users and companies. Regarding costs, this research shows that the most significant costs for users are associated with procrastination, sleep deprivation and reduced focus, which can be challenging to identify and evaluate from the users’ perspective.Research limitations/implicationsThis study shows that zero-price services provide significant benefits like enhancing social connectivity and offering a wide variety of content. Significant drawbacks, such as increased procrastination and sleep disturbances, highlight the psychological effects of these platforms. These impacts include behavioral changes, emphasizing the influence of online platforms on user engagement. Furthermore, a trend toward single-purchase preferences over free services suggests changing consumer attitudes toward digital payment models. This underscores the need for further research on non-monetary aspects in zero-price markets for better understanding and regulation of the digital economy.Practical implicationsThis study shows that users appreciate the accessibility and potential of zero-price services but are wary of privacy concerns. It underscores the need for companies to balance profit objectives with user experiences and privacy requirements. Offering a range of ad-free premium services to meet diverse customer needs can be effective. Users’ high valuation of privacy and transparency suggests businesses should focus on human-centric, privacy-respecting strategies. Increased transparency in data usage and giving users greater data control could enhance the user experience and foster sustainable customer relationships.Social implicationsThe study calls for policymakers to focus on non-monetary risks of zero-price services, such as behavioral changes and digital well-being impacts. They should consider implementing regulations to protect users, especially children, from manipulative designs such as “dark patterns”. Policymakers must balance user protection with innovation, leading to a sustainable zero-price economy. For zero-price service users, awareness of non-monetary costs, like procrastination and sleep deprivation, is vital. Understanding that “free” services have hidden costs is important, especially for younger generations. Managing privacy settings and selective service choices can protect privacy and well-being.Originality/valueThis research shifts the focus from simply valuing personal data based on market prices to assessing the worth of free services themselves. By listing various hidden costs, it underscores the need for increased user awareness and greater corporate transparency. Uniquely, it finds that users prefer making one-time purchases over using zero-price services, extending prior assumptions in the field. Additionally, it also characterizes the zero-price economy ecosystem, highlighting differences between market types and provides a deeper understanding of the zero-price market and its related concepts.

To Push Forward the Integrated Reform in An All-Round Way and Focus on Building A Strong Province in The Digital Economy

This paper, taking Dalian as a case study, delves into the strategic pathways and practical strategies for comprehensively advancing integrated reform and jointly striving to build a digital economy powerhouse province. It first analyzes the significance of the digital economy as a new engine for global economic growth, along with Dalian's foundational advantages and potential challenges in its digital transformation journey. Subsequently, from various dimensions such as policy guidance, technological innovation, industrial upgrading, and business environment optimization, the paper elaborates on how Dalian is leveraging integrated reform measures, including enhancing cross-departmental collaboration, promoting open sharing of data resources, and constructing a digital economy ecosystem, to accelerate the deep integration of digital technologies with the real economy, thereby promoting industrial structural optimization and upgrading, and enhancing regional competitiveness. The paper also emphasizes Dalian's key initiatives in nurturing and attracting talents, strengthening infrastructure support, and advancing smart city and digital government construction during its pursuit of becoming a digital economy powerhouse, and how these initiatives provide strong momentum for the high-quality development of Dalian's, and by extension, its province's, digital economy. Through case studies and practical summaries, this paper offers a series of replicable and scalable experiences and models, providing valuable insights for other regions to advance their own digital economy integration reforms.

The Synergy Between Fintech and Islamic Banking: Expanding Access to Financial Inclusion

This study aims to examine how the synergy between Fintech and Islamic banking can expand inclusive financial access in Indonesia. Through a literature review, this research identifies the role of Fintech in digital finance based on Islamic principles and the integration of the economic ecosystem. The findings indicate that the synergy between these two sectors holds significant potential for enhancing financial inclusion. However, the study also identifies several challenges, including regulations that have not fully accommodated innovation and the need for improved digital financial literacy. The study concludes that the synergy between Fintech and Islamic banking is a strategic step towards achieving inclusive financial goals in Indonesia, but it requires support from various stakeholders to overcome the existing challenges.