P. Eko Prasetyo, Ilmu Ekonomi S2 (2022) The role of institutional potential and social entrepreneurship as the main drivers of business opportunity and competitiveness. Uncertain Supply Chain Management, 10. pp. 101-108.

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Abstract

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.

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