Global Competition Research Articles

Towards Better Financial Governance: The Urgency of Model Risk Management in Indonesia Viewed Through Maqashid Shariah

This study assesses the adequacy of Model Risk Management (MRM) frameworks within Indonesian Islamic banking by utilizing Maqashid Shariah principles as a tool to align these frameworks more closely with global standards, specifically focusing on safeguarding life (Hifzh Al-Nafs) and property (Hifzh Al-Mal). Through a comparative literature review, this research examines the structure and effectiveness of MRM practices in Indonesia, referencing regulations such as POJK 65/2016 and SEOJK 25-SEOJK.03-2023, against those in developed financial markets such as the USA, UK, Europe, Japan, and UAE, with an emphasis on governance, lifecycle management, and internal audit processes. The findings suggest that Indonesia’s current MRM frameworks are somewhat rudimentary when contrasted with international norms. Key areas identified for enhancement include expanding the scope, enhancing governance structures, refining model lifecycle management, and strengthening internal audits and oversight mechanisms. By employing Maqashid Shariah principles as an analytical tool, this paper proposes enhancements to MRM frameworks that can significantly improve the stability and compliance of Islamic banks in Indonesia, promoting greater global competitiveness and adherence to Shariah principles. This approach not only integrates traditional MRM approaches with Islamic ethical standards but also provides a tailored framework for regulatory enhancements that support a stable, compliant, and ethical Islamic banking environment.

Development of the logistics potential of railway transport

An analysis of freight transport statistics over the past 10 years shows sensitivity to political influences from almost all modes of transport to one degree or another, including rail. At the same time, the participation of rail transport in the total volume of freight traffic in recent years can be estimated at 17–18 %. In recent years, there has been a trend towards an increase in the railway transportation sector in the total volume of freight. In order to ensure the technological sovereignty of the Russian Federation, it is necessary to take a number of technical, organizational and managerial decisions to offset the negative consequences. The development of domestic logistics potential involves the development of international transport corridors that will connect the macroeconomic regions of the north, south, east and west. This will certainly have an impact on the global economy as a whole. Therefore, the main task is to develop effective interaction between participants in transport processes both on related modes of transport, as well as the largest representatives of the operator and logistics business, cargo-forming enterprises. In this regard, the current situation has been analyzed using a tool to identify competitive advantages in the domestic market and in conditions of global competition.

Effective Digital Business Management Strategy: A Structured Approach to Turning Challenges into Opportunities for Sustainable Growth and Innovation

Digital transformation has become one of the main pillars of modern business strategy, requiring companies to adapt to technological developments and maximize emerging opportunities. This article explores effective digital business management strategies, focusing on a structured approach to transform challenges into opportunities for growth and sustainable innovation. Through a qualitative approach based on literature studies and case analysis, this study identifies key elements in digital business management strategies, including the use of information technology (IT) and management information systems (MIS), the use of data and analytics, organizational flexibility, continuous innovation, and strategic collaboration with external parties. The results show that companies that successfully implement this strategy can adapt quickly to market changes, improve operational efficiency, and create competitive advantages. Flexibility and continuous innovation are also found to be important factors in ensuring business continuity amidst technological disruption. In addition, collaboration between companies, startups, and academic institutions is a key element in driving innovation and optimizing resources. This article contributes to the academic literature and business practice, by offering practical guidance for companies to formulate superior digital strategies in the era of global competition.

Implementation of Total Quality Management in Higher Education A conceptual framework

Purpose – TQM in Higher Education has demonstrated remarkable effectiveness in driving substantial improvements across various dimensions of educational institutions. There is a significant opportunity to gain valuable insight into the global competitiveness of academic institutions through a study of QAPs (Quality Assurance Practices) in Higher Education Institutions (HEIs). The research assesses the impacts of QAPs on higher education and their outcomes facilitated by the HEIs to prepare students for employability. Design/methodology/approach – The study employs an exploratory research approach. QAPs from various assessment, accreditation, and ranking bodies were assessed, and variables were gathered for the study. After adopting the common-sense method, eight independent variables were identified that potentially influence the success of TQM and student employability in HEIs. The study's eight independent variables are governance leadership, student support progression, research consultancy extension, curriculum aspects, teaching, learning & evaluation, innovative practices, infrastructure learning resources, and collaboration, with two dependent variables, TQM effectiveness, and student employability, finalized. Findings – The findings reveal that the QAPs of HEIs, such as Governance Leadership, Student Support Progression, Research Consultancy Extension, Curriculum Aspects, Teaching Learning Evaluation, Innovative Practices, Infrastructure Learning Resources, and Collaboration, influence TQM Effectiveness. The study also supports that student employability is an outcome of the TQM effectiveness influenced by the QAPs of HEIs, representing a paradigm of educational excellence and advancing knowledge, societal contribution, and building an employable global workforce. Practical Implications – The article explores the dimensions of QAPs of higher education assessment, accreditation, and ranking bodies from India and a few global regulators. The study reveals that the HEIs are committed to upholding academic standards and ensuring the delivery of high-quality education. The HEIs often cater to a diverse student population by adapting to local regulations and policies. The study emphasizes the need for continuous assessment and improvement strategies to meet the evolving needs of students and other stakeholders globally. The research findings can help HEIs produce the intended results while meeting and exceeding the expectations of their stakeholders. It can also assist institutions to improve their reputations. Originality/value – This is possibly a one-of-a-kind study that used a methodology to evaluate the QAPs of assessing, accrediting, and ranking agencies of HEIs. The findings may assist higher education institutions in maintaining their global competitiveness.

Demographic and Socioeconomic Determinants Affecting Uses of the Internet in Indonesia

The digital divide in Indonesia is rather big. This study aims to investigate the demographic and socioeconomic determinants affecting the quantity of uses of the Internet in Indonesia. The data used are based on the National Socioeconomic Survey in 2021. The object of the analysis is population aged 15 years and above possessing at least one digital gadget. The dependent variable is the purpose of the Internet use. The independent variables included gender, age, number of household members, marital status, education, employment status, place of dwelling, island of residence, and number of types of digital gadgets owned. A binary logistic regression model was employed in the analysis. The results of the study indicate that a higher quantity of uses of the Internet is associated with a female sex, younger age, smaller number of household members, unmarried status, higher education, dwelling in urban areas, living in Java Island, and owning more than one type of digital gadgets. These findings suggest the need to improve access to the Internet among men, older people, ever-married individuals, rural dwellers, and Outer Java inhabitants, to promote family planning, to improve education and accessibility of more types of digital gadgets in order to bridge the digital divide and to boost the global competitiveness index 4.0 in Indonesia.

E-readiness of the sultanate of Oman’s ports in improving logistics and supply chain global competitiveness

E-readiness of the sultanate of Oman’s ports in improving logistics and supply chain global competitiveness

Detecting the local characteristics from the iron ore import competition intensity among nations: A network-based resource allocation process method

Iron ore is an important industrial raw material, and its production and consumption have a significant impact on the world economy. As resource demand increases, competition among iron ore importing countries has intensified. To investigate the global iron ore competition landscape through the competition intensity among importing countries and to study the iron ore competition groups and key competition modes from a local perspective, this paper constructs the iron ore import competition intensity network (IOCIN) by employing the network decreasing-mode and resource allocation process (RAP). The empirical results are as follows. First, competition intensity is unevenly distributed. The unevenness of competition intensity eases slightly, and the IOCINs become tighter over time. Second, the composition of the community is unstable, and the competition groups show geographic dispersion. Third, unidirectional competition with an overwhelming advantage on one side is a common relationship in the global iron ore market. At the same time, a relatively stable bilateral competition pattern has promoted the evolution of the global iron ore competitive landscape. The value of this study includes not only the improvement of the method but also practical strategic recommendations for rational competition and resource allocation optimization among countries.

The Role of Coffee Trade in Shaping Ethiopia’s Economic Development from the 1960s to Present

This study examines the role of coffee trade in shaping Ethiopia’s economic development from the 1960s to the present. It explores the evolution of Ethiopia’s coffee industry through key policy transformations, market liberalization, and economic reforms, highlighting their impact on national export revenues, foreign exchange reserves, employment creation, and rural economic development. The analysis addresses the challenges faced by Ethiopia’s coffee sector, including climate change, market volatility, and global competition, while also identifying opportunities for growth through sustainability practices, certification, and market diversification. Finally, the study outlines strategic pathways for future development, focusing on enhancing productivity, building resilient supply chains, and aligning coffee trade strategies with broader national development goals.

Digitization as a new reality under conditions of social instability

The article deals with the phenomenon of digitization as a new reality of today's economic and everyday life, its active development and expansion. Emphasizing the concept of the development of the digital economy and society long before the COVID-19 pandemic and large-scale war (for the period of 2018-2020), and therefore the approval of the National Economic Strategy until 2030, marked the place of Ukraine in the global context and determined the incentives for the further development of digitalization in order to achieve a competitive level of our country in the world. Participation in various world ratings for determining the degree of technological development, network readiness (NRI), innovation level (GII), and global competitiveness (GCI), etc. clearly shows the level of development of information and communication technologies in the country, allows you to assess its potential in this area, and shows its strongest and weakest points. The results of these assessments, published annually in reports, show the ability of our country to be among the top fifty countries of the world and to compete decently on the international market, if not in technical terms, then in the potential of human resources despite any negative circumstances and a long war. The article also talks about the benefits and potential risks of digitization in all areas (the danger of cyber threats, unemployment, digital inequality, of the artificial intelligence development, etc.). Emphasis on positives and negatives is relevant and important for strategic forecasts and planning, both in defeating the enemy on the battlefield and in further rebuilding the state and its competitiveness at the international level.

Enhancing Global Competitiveness: The Role of English in Construction Vocational Training

The increasing globalization of the construction industry has increased the demand for multilingual professionals capable of succeeding in diverse environments. This research investigates the convenience and effectiveness of teaching English to construction vocational students in Kuwait, namely the Construction Training Institute (CTI), focusing on improving their employability and competitiveness. This study examines the potential benefits of using English as the medium of instruction in CTI, not only in English for special purposes (ESP) classes, but all other technical lectures. This will address the challenges in the vocational institutions and students' challenges in adopting English, including language proficiency barriers and curriculum adjustment. The study highlights the importance of delivering effective instructions while developing students’ technical skills. This study provides practical strategies for improving and enhancing the vocational education system while preparing CTI students for an increasingly interconnected global workforce

Carbon neutrality and energy production in the UAE: Challenges and opportunities for the petrochemical industries

This study analyzes the strategic impacts of the UAE's push towards diversifying its petroleum industry on international petrochemical companies. The research focuses on the UAE's investments and supportive policies, highlighting the need for international firms to shift strategies by developing high-value-added products, enhancing productivity through carbon reduction and digital technologies, and diversifying export markets. Methodologies include a comparative analysis of production costs and market competitiveness. Key findings reveal the potential for hydrogen imports from the UAE due to lower production costs of blue and green hydrogen compared to Europe, advocating for a diversified hydrogen sourcing strategy. The study underscores the importance of international cooperation for technological advancement and carbon reduction, proposing joint ventures and collaborative research as pathways to enhance global competitiveness and create employment.

SWOT Analysis of Indonesian Coastal Tourism Destination Marketing in the International Office

This study examines the marketing strategy of beach tourism destinations in Indonesia through a SWOT (Strengths, Weaknesses, Opportunities, Threats) analysis approach. The background of this study is based on the importance of beach tourism as a major economic sector that contributes significantly to national income, especially in countries with great beach tourism potential such as Indonesia. The research method used is a SWOT analysis to identify the strengths, weaknesses, opportunities, and threats faced by beach tourism destinations in Indonesia. The results of the study show that the main strengths of Indonesian beach tourism destinations include pristine natural beauty, rich underwater ecosystems, supporting facilities, and rich local culture. However, weaknesses such as lack of infrastructure, ineffective promotion, and low service quality are still major challenges. Opportunities include increasing global interest in Indonesian beach tourism, advances in information technology, and sustainable tourism trends. Meanwhile, threats such as intense global competition, natural disasters, and marine pollution require mature risk management. The conclusion of this study emphasizes the need for innovative and sustainable marketing strategies to improve the global competitiveness of Indonesian beach tourism. Practical recommendations include improving infrastructure, more effective promotion, and developing sustainable tourism.

The Model of Stock Pricing Banking Sector on the Indonesia Stock Exchange during the Government of Susilo Bambang Yudhoyono and Joko Widodo

Differences in macroeconomic conditions between the SBY and JKW government periods can significantly impact stock prices within the banking sector, especially when the economy experiences fluctuations, leading to increased stock price volatility. This research aims to assess the influence of various macroeconomic factors, including the Global index, macroeconomics, world oil prices, China index, Arab index, competitive resources, and inflation, on banking sector returns from October 2004 to October 2014. The analysis utilizes the arbitrage pricing theory, difference test, and mean absolute deviation. The study divides the analysis into high-return and low-return groups for each government period. Findings indicate that macroeconomic factors exert a simultaneous influence on return groups during both SBY and Jokowi's administrations. However, for JKW high returns, these factors do not significantly impact them. Specifically, the Global Index, China Index, Arab Index, Resource Competitiveness, and Inflation show a positive correlation with both high and low returns during SBY term. Conversely, during JKW tenure, only the Global Index and China Index exhibit positive effects on high and low returns. The difference test reveals disparities in the Arab index for high and low returns of SBY, while only the Global index displays differences for JKW. The variations in high returns between SBY and Jokowi stem from discrepancies in the Global and Arab indices, while no distinctions exist in low returns between the two administrations. Additionally, the mean absolute return values for high returns during JKW era demonstrate the smallest accuracy, indicating potential limitations in the predictive power of the model during this period.

ADAPTING KIRKPATRICK’S MODEL FOR EVALUATING PROFESSIONAL EDUCATIONAL PROGRAMS IN TOURISM WITHIN HIGHER EDUCATION

In the context of rapidly changing geopolitical dynamics and constant evolution in the tourism sector, the effectiveness of educational programs in tourism has become critically important for preparing professionals capable of adapting to new challenges. This article focuses on the use of the Kirkpatrick Model as a strategic tool for evaluating and improving professional higher education programs in tourism. Based on four levels of evaluation — reaction, learning, behavior, and results — the model is adapted to the specifics of educational programs in the field of tourism, offering a comprehensive analysis methodology. The aim of adapting the Kirkpatrick Model is to diagnose and address the vulnerabilities of educational programs, refine curricula, and introduce innovative courses that meet both current and projected sector needs. This approach is particularly relevant in the light of the rapidly changing requirements of the tourism industry, where it is crucial not only to provide up-to-date knowledge but also to develop students’ skills in critical thinking, adaptation, and innovative problem-solving. Applying to the Kirkpatrick Model to university programs in tourism ensures not only high quality of education but also its relevance and practical orientation. This paves the way for creating a new generation of tourism professionals, prepared to work effectively in the conditions of global competition and changing market demands. Such an approach not only improves educational programs but also enhances the international competitiveness of graduates, which is a key factor for success in the modern tourism industry.

Omni-Channel Marketing Strategy for Lake Toba Indonesia Tourist Destinations in Attracting Foreign Tourists

Lake Toba in North Sumatra, Indonesia, is a region of significant potential for attracting international tourists due to its exceptional natural beauty and cultural richness. However, the current influx of foreign visitors remains low compared to other leading tourist destinations in Indonesia. This research investigates the development and implementation of an omni-channel marketing strategy aimed at enhancing Lake Toba's appeal to international travelers. The study employs a mixed-methods approach, combining qualitative interviews with key stakeholders in the tourism industry and quantitative analysis of tourist behavior data. Key challenges identified include inadequate infrastructure, insufficient promotional efforts, and intense global competition. The research proposes strategies that integrate digital and physical marketing channels, personalize content to meet diverse traveler preferences, and leverage advanced technologies such as artificial intelligence (AI) and virtual reality (VR). The findings suggest that an omni-channel approach can create a more cohesive and engaging tourist experience, thereby increasing Lake Toba's competitiveness in the global market. The research also highlights the broader implications for digital transformation in Indonesia's tourism sector and suggests directions for future studies focused on long-term impacts and scalability of omni-channel strategies.

Integrating Computer Science in Basic Education Curriculum: Enhancing Innovation and Sophistication for Global Competitiveness

In this study, the researcher investigated the perceptions of professional teachers in the Jolo municipality toward Integrating Computer Science into the Basic Education Curriculum (ICSBEC), including the teachers’ required capability on skills and experiences, pupils’ constructive learning and analytical thinking and technological resources, tools, and facilities to facilitate innovation and sophistication in global competitiveness. The findings showed an agreeable response with the chi-square tabular value , which means all professional teachers' perceptions of ICSBEC are about the same, dependent on the following: teachers’ capability on skills and experiences; pupils’ constructive learning and analytical thinking; and technological resources, tools, and facilities needed to meet the need for innovation and sophistication (great skills) in global competitiveness. The findings revealed strong overall support for integrating computer science into the basic educational curriculum, with a mean score of 4.447(185 or 88.94%). They indicated perceived skills and experiences needed for teachers to instruct pupils, with a mean score of 4.341 (180 or 86.54%), agreeing strongly. The constructive learning and analytical thinking skills, with a mean score of 4.515 (187 or 89.90%), strongly agreed. The availability of appropriate technological resources, tools, and facilities to prepare students for global competitiveness, with a mean score of 4.692 (195 or 93.75%), strongly agreed. These results showed positive evidence that the ICSBEC holds potential impacts in cultivating innovation and sophistication among students’ preparedness in a globalized world. The study employed a descriptive-evaluative approach. To gather quantitative data, the researcher utilized surveys distributed to 208 professional teachers and the FGD for qualitative data. The FGD was selected among the supervisors, principals and classroom advisers who possessed the information sought.

토픽모델링에 기반한 R&D 투자 포트폴리오 분석 및 예측

Many countries are identifying crucial technologies for national security and economic growth amid global tech competition, crafting cross-departmental strategies to pursue them. We propose a platform for analyzing and predicting R&D investment portfolios based on government R&D project information and investment data to provide scientific evidence for strategic budget allocation. The proposed platform consists of the following four processes. First, topic modeling and project labeling are performed using project-related text data. Second, we propose a method for calculating the importance of each label based on the centered log ratio (CLR) transformation. Third, we predict the label importance for the next year using linear regression and Holt's linear trend method. Fourth, we propose a method for constructing investment portfolio in specific fields. Real data analysis demonstrates the explanability and predictability of the proposed platform by using research project data spanning 11 years from 2012 to 2022. We believe a novelty of the proposed method can contribute to the establishment of data-driven R&D investment portfolios.

Moving towards a Global Agricultural Competitiveness Index (GACI): A conceptual model

Moving towards a Global Agricultural Competitiveness Index (GACI): A conceptual model

Making “strategic autonomy” rhyme with “fiscal austerity?” Unresolved conflicts of (geo)economic ideas in EU infrastructure policy

As a reaction to intensifying global competition, measures related to strategic autonomy are gaining traction on the EU level. Yet they coincide with a general return to fiscal consolidation. With current developments more inconclusive than previously suggested, this article asks how the central actors in EU economic policy, both public and private, position themselves in the autonomy-austerity conflict. It introduces a political-economic approach to the role of (geo)economic ideas and state-business relations in EU policy formation. The article focuses on infrastructure policy as a main field within which the conflict unfolds. A content analysis of official documents systematically maps the positions of relevant actors. While an influential group of southern finance ministries, Directorates-General, center-left parties, and trade unions is promoting strategic autonomy, a shrinking constellation around fiscal austerity contains relevant veto players. The deadlock results in the attempt to reconcile both ideas via “targeted flexibility”: consolidation via the expenditure side and a delegitimization of non-investment spending, coupled with a public de-risking of private investments. The approach is supported by European capital, yet highly inconsistent and runs up against pro-austerity forces. The findings have strong implications for the EU’s future geoeconomic strategy and its ability to compete globally.

Critical approaches to geoeconomics: Taiwan’s position/ing in the global chip war

This essay argues that a meshing of the genealogical analysis proposed by critical geoeconomics with the critical (geo)political economy approach is well-equipped to expound on the proliferation of geostrategic thinking and practices in the contemporary era marked by the ‘great power rivalry’ or the ‘new Cold War’. To elaborate on this proposition, I examine the rise of global strategic-technologic competition centring on semiconductor production and Taiwan’s position and positioning in such dynamics.