BUISINESS INTERNATIONAL

LITERATURE REVIEW Level Of Economic Development In A Country The level of economic development in a country is an important parameter that reflects the development or progress of the economy in a country for the welfare of society and the competitiveness of a nation at the global level (Andriani et al., 2021). The level of economic development in a country refers to the growth and progress of its economy over a period of time. This can be measured through several economic indicators, with a common measure of economic development being the gross domestic product (GDP) of a country (Hill, 2023). GDP is considered a benchmark for a country's economic activity, measuring the total monetary value or market value of all final goods and services produced within a country's borders over a period of time (Cahyadi, 2019). Economic development is a long-term economic issue for a country (Gafur Masâ€TMud & Rochaida, 2022). The level of economic development is influenced by several factors, such as poverty levels, unemployment rates, income inequality, and economic growth (Yuniarti, 2020). To measure the economic development of a country's society, all of these aspects should be considered comprehensively (Hill, 2023). Countries with high levels of economic development tend to have high levels of economic growth as well (Anugrah et al., 2020). Therefore, many countries are striving to increase their level of economic development through various economic development policies and programs (Firda Miftakhul Jannah, n.d.). The economy of a country is said to experience development and an increase in the growth rate of its economic activities when it is higher than what was achieved previously (Yuniarti, 2020). Economic growth is one of the key indicators in measuring the economic development of a country (Junaedi & Salistia, 2020). An analysis related to economic growth is important as a basis for formulating macroeconomic policies and national development targets (Nurwanda & Rifai, 2018). This is in line with efforts to create high-quality and high-growth economic development through a mix of government policies, both from a fiscal and monetary perspective (Widjanarko, 2019). Economic policy formulations must take into account the business cycles that occur in the economy so that the policies are more targeted (Murni, 2019). The stage of economic development of a country can vary depending on factors such as poverty rates, unemployment rates, income inequality, and economic growth (Yuniarti, 2020). The first factor is poverty rates, poverty is one of the factors that influences the economic development of a country (Yuniarti, 2020). Relatively high economic growth will greatly

affect the poverty rate, because with a growing economy, there will be a lot of production of goods and services produced in a region, which will ultimately absorb labor, thereby increasing per capita income, and in turn reducing poverty rates in a region (Gafur Masâ€TMud & Rochaida, 2022). The second factor is unemployment rates, high unemployment rates will hinder the process of development and growth of an economy (Sugianto & Permadhy, 2020). The causes of unemployment can be classified into education, skills, wages, information, and job availability factors (Sugianto & Permadhy, 2020). Another factor that hinders economic development is income inequality (Yuniarti, 2020). Differences in income create a distance between the rich and poor, and unequal prosperity indicates that there are still many people in upper and lower classes (Farhan & Sugianto, 2022). The last factor is economic growth, the growth rate formed from various economic sectors indirectly reflects the level of economic change that occurs (Setiawan & Huda, 2021). The government is striving to increase the level of economic development through various economic policies and development programs (Firda Miftakhul Jannah, n.d.). One effort to increase economic development is to apply economic equalization by developing a business to avoid factors such as poverty rates, unemployment rates, income inequality, and economic growth (Normansyah, 2022). ). In addition, the government has also sought to implement inclusive economic development (Maulani, 2021). Long-term significant positive effects of inclusive economic growth have an influence on economic function, health function, education function, and per capita gross regional domestic product (Safitri, 2021). Identifying Changes In Macroeconomic And Macropolitical Factors Occurring Globally Macropolitics and macroeconomics are two crucial concepts in modern economic science (Gkiouleka et al., 2018; Prasaja, 2020). Macropolitics refers to government policies aimed at influencing the overall economy (E. I. Siregar & ., 2019). It is an effort to achieve economic goals, such as economic growth, low unemployment and inflation, and price stability (Barcelos et al., 2023). Examples of macropolitical policies are monetary policies, including central bank interest rate policies and controlling the amount of money circulating in the economy (Fajarini et al., 2023; Yusri et al., 2023). There are also fiscal policies, such as government spending and tax regulations, which can affect consumption and investment (Sriyana, 2021; Zakiyatul Miskiyah et al., 2022).

Macroeconomics is an economic discipline that studies economic activities comprehensively (Veritia et al., 2019). What is discussed is no longer parts of an economy or just companies, but already discusses the overall economic activity in the economy (Veritia et al., 2019). This includes the analysis of economic dynamics, such as growth, inflation, and business cycles (Nihayah & Rifqi, 2022). Macroeconomics also looks at how economic policies can affect the economy as a whole (Eka Mulia Nurul Al Amin, 2020). ). In practice, macropolitics and macroeconomics are closely related because macropolitical policies are often based on macroeconomic analysis and understanding (Masfiatun, 2021). Overall, they help to understand how the economy functions and how government policies can influence economic growth and stability (Adxamovna, 2022; Ichsan & Verena, 2020) . Changes in macroeconomic and macropolitical factors occurring globally are currently caused by the COVID-19 pandemic, significantly affecting the world (Junaedi & Salistia, 2020) . Social restrictions, business closures, and international travel restrictions, as well as lifestyle changes, are affecting economic growth, investment, and political stability (Oeliestina, 2020). International trade tariffs, such as the trade war between the United States and China, have prompted other countries to take protectionist measures by importing fewer goods from abroad and increasing import taxes as a way to protect domestic industries (Dicky, 2020; Wati et al., 2023). Furthermore, there are changes in climate. Climate change can be a significant problem for the political stability and economic growth of countries that are highly dependent on agriculture and tourism sectors (Yusandi & Karimi, 2022; Zainuri et al., 2023). Industrialized countries that are major contributors to greenhouse gas emissions will face pressure to reduce their carbon emissions (Prasetyo & Windarta, 2022) . Technology advancements such as the Fourth Industrial Revolution and Big Data have transformed business practices worldwide and created new jobs (Daniaty et al., 2022; Hidayah, 2019) This has also spurred social and political changes by promoting the desire to reduce the use of fossil fuels and change the way we work (Adelina et al., 2021). Population changes, especially population growth, can affect political stability and economic growth worldwide (Fatriani et al., 2023; Indriyani & Setyowati, 2023). An increase in the population can create competition for jobs and resources that impact poverty and unemployment rates (Rahmanto & Ratnasari, 2023; E. S. Siregar et al., 2023). On the other hand, a small population growth can also affect a country’s economy (Oppusungu et al., 2023; G. Y. G. Sinaga et al., 2023). Migration policies applied by each country can also affect political stability and economic growth worldwide (Fitriana et al., 2023; Oppusungu et al., 2023) . Such policies affect the inflow and outflow of labor, foreign investment, and international trade,

which can impact economic growth (Dwi & Jalungono, 2022). Geopolitical changes, such as international competition and foreign relations, can affect political stability and economic growth in countries worldwide (Santoso et al., 2023). Geopolitical changes can also create uncertainty in investing and doing business in other countries (Mulyawanti et al., 2023). There are several changes in macroeconomic and macropolitical factors occurring globally, such as the COVID-19 pandemic. The pandemic has had a significant impact on the world (Ariga, 2023; Maswati et al., 2023) . It has changed the way we work, interact, and do business worldwide (Siri et al., 2022; Tripalupi, 2022). Many countries have implemented lockdowns to ensure the safety of their citizens, which has impacted the economies of these countries (Markuat, 2022; Ningsih et al., 2022). Secondly, changes in trade policies have made developed countries begin to consider limiting imports from developing countries to reduce their spending and strengthen their own economies (Ari et al., 2023; Ujang Badru Jaman & Endah Pertiwi, 2023). Thirdly, national economic policies contribute to changes in macroeconomic and macropolitical factors (Abdurrahman et al., 2023; Usul, 2023). Measures such as interest rate cuts, debt payment delays, and fiscal incentives are used by governments to provide stimulus to weakened economies due to the COVID-19 pandemic (Achmad Fauzi et al., 2023; Pardede & Listari, 2023). Fourthly, the green revolution is gaining more importance as governments and companies shift towards renewable resources to reduce their dependence on fossil fuels (Afandi, 2023). The process towards a green revolution may require significant investment at its inception but will result in long-term economic and environmental benefits (Lestari, 2020). Lastly, political transitions have taken place in some countries, where new governments can cause changes in macroeconomic policies, such as tax reductions or changes in their approach to free trade (Permana et al., 2023). Describe How Transition Economic Are Moving Toward Market – Based System Transition economies undergo a set of structural transformations intended to develop market-based institutions (Stermieri et al., 2023). These include economic liberalization, where prices are set by market forces rather than by a central planning organization (Humphrey, 2019). In addition to this trade barriers are removed, there is a push to privatize state-owned enterprises and resources, state and collectively run enterprises are restructured as businesses, and a financial sector is created to facilitate macroeconomic stabilization and the movement of private capital. (Koll & Watt, 2022)

The transition from a centrally planned or non-market economy to a market-based economic system is a complex and multifaceted process (Atal et al., 2022). This transition often involves a shift from government control to more private sector participation in economic activities (Atmaja et al., 2023). Here is a description of how such a transition typically takes place: Policy reform in economics refers to the deliberate and systematic changes made to government policies and regulations with the aim of improving economic performance and addressing specific economic challenges (Sriyana, 2021). These reforms can vary widely in scope and nature and can encompass a range of policy areas, including fiscal, monetary, trade, labor, and social policies (Indrawati et al., 2019). The specific goals of policy reform often depend on the economic and social objectives of a country. Policy reform in economics is a dynamic process that requires careful planning, stakeholder engagement, and often, the support of international organizations (Koll & Watt, 2022). The effectiveness of policy reform is often influenced by a country's political environment, capacity for implementation, and the existence of consensus among stakeholders (Suleiman & Waterbury, 2019a). Successful policy reforms can lead to improved economic performance and societal well-being, while poorly implemented reforms can have negative consequences (Shapiro & Willig, 2019) After a policy Reform is deregulation. Derrgulation is a key component of transitioning to a market-based system. This involves removing or loosening restrictions and controls on various industries and sectors, allowing market forces to determine prices, supply, and demand (Necoechea-Porras et al., 2021). Deregulation in the context of economic transitions refers to the process of reducing or eliminating government regulations and controls in various sectors of the economy(NecoecheaPorras et al., 2021). This is a common element in transitioning from a centrally planned or heavily regulated economic system to one that is more market-oriented (Hossin, 2023). Deregulation is a significant component of economic transitions, particularly when moving from a planned or state-controlled economic system to a more market-oriented one (Oatley & Petrova, 2022). Its success depends on careful planning, effective regulation, and consideration of social and political factors to ensure that the benefits of increased competition and market-driven efficiency are realized while mitigating potential drawbacks. (Oatley & Petrova, 2022)

Privatization is a State-owned enterprises are often privatized, meaning they are sold to private individuals or corporations (Suleiman & Waterbury, 2019b). This transfer of ownership shifts economic decision-making power from the government to private entities . Privatization in the context of economic transitions refers to the process of transferring ownership and control of state-owned assets, enterprises, or resources to private individuals or entities (Shapiro & Willig, 2019). This is a fundamental aspect of transitioning from a centrally planned or statecontrolled economic system to a more market-oriented or capitalist one (Suleiman & Waterbury, 2019b). Privatization is a significant component of economic transitions, with the potential to bring increased efficiency and dynamism to formerly state-controlled sectors (Humphrey, 2019). Its success depends on careful planning, transparent processes, effective regulation, and consideration of social and political factors to ensure that the benefits of privatization are realized while mitigating potential drawbacks(Suleiman & Waterbury, 2019b). Market Entry and Competition is a Promoting competition by allowing new businesses to enter the market is critical. It encourages innovation and efficiency (Atal et al., 2022). This often involves removing barriers to entry, such as licensing requirements and trade restrictions (Atal et al., 2022). Market entry and competition play a pivotal role in economic transitions, particularly when moving from a centrally planned or state-controlled economic system to a market-based one (Chang & Hsieh, 2023). This transition is characterized by policies and strategies aimed at promoting competition and creating opportunities for new businesses to enter the market(Ozatbekova et al., 2022). Market entry and competition are central to fostering economic growth, driving innovation, and increasing overall economic efficiency during economic transitions (Zarifhonarvar, 2023). Careful planning, effective regulation, and monitoring are essential to ensure that the benefits of competition are realized while addressing potential challenges and protecting the interests of consumers and vulnerable populations (Atal et al., 2022). Property Rights and Rule of Law: Protecting property rights and enforcing contracts are essential for a market-based system (Barzel & Allen, 2023). A strong legal framework ensures that individuals and businesses can safely invest and engage in economic activities (Hossin, 2023). Property rights and the rule of law are foundational principles in economics and governance that have a significant impact on the functioning of markets and the overall economic system (Bhagat & Hubbard, 2022). They play a critical role in ensuring economic

stability, fostering investment, and protecting individual and business interests (Ascarya, 2022). In summary, property rights and the rule of law are essential pillars in economics and governance. They provide the foundation for a stable and prosperous economic environment by protecting ownership, facilitating investment, and ensuring the equitable enforcement of contracts and laws (Bhagat & Hubbard, 2022). These principles are integral to fostering trust and confidence in the economic system. Monetary policy in the context of economic transition involves the formulation and implementation of strategies and measures by a country's central bank or monetary authority to manage the money supply, interest rates, and exchange rates as part of broader economic reforms during a transition (Gorodnichenko et al., 2023). The primary goal of monetary policy during economic transitions is typically to achieve macroeconomic stability, control inflation, and support the transition to a market-based economic system (Yin et al., 2022). Effective monetary policy during economic transitions is crucial for achieving economic stability and creating a conducive environment for investment, growth, and development (Boneva et al., 2022). It is a key component of the broader economic reform efforts that countries undertake when transitioning to market-based economic systems (Mahmood et al., 2022). Financial sector development is a critical component of economic transitions, particularly when shifting from a centrally planned or state-controlled economic system to a market-based one (Vo, 2022). The financial sector plays a pivotal role in facilitating economic growth, capital allocation, and investment (Salehi et al., 2022). Financial sector development is a multifaceted and ongoing process in economic transitions (Salehi et al., 2022). It is vital for fostering investment, innovation, and economic growth while maintaining financial stability. A well-developed financial sector can help channel savings into productive investments, promote entrepreneurship, and enhance overall economic performance (Khan et al., 2022). Developing a robust financial sector is crucial. This includes the establishment of banks, stock markets, and other financial institutions that can facilitate capital allocation and investment (Atmaja et al., 2023). Monitoring and Evaluation is a continuously assessing the progress and impact of the transition is essential. Governments and institutions should collect data and analyze the effects of policy changes to make adjustments as necessary (Kung et al., 2022). Monitoring and evaluation in the context of economic transition refer to the systematic process of assessing and measuring the progress, outcomes, and impacts of economic reforms and policies

undertaken during a transition from a centrally planned or state-controlled economic system to a market-based one(Guo et al., 2022). Effective monitoring and evaluation are essential to ensure that the transition is on track, that the intended goals are being achieved, and to make informed adjustments to policies and strategies as needed (Kung et al., 2022). Transparency and accountability are fundamental principles in economics transition, especially when shifting from a centrally planned or state-controlled economic system to a market-based one (Wang & Zhang, 2022). These principles are essential for building trust among various stakeholders, including citizens, businesses, and investors. Promoting transparency and accountability in government and business operations builds trust and confidence in the market-based system (Williams et al., 2022).Transparency and accountability are not only ethical and moral imperatives but also crucial for the success of economic transitions (Saldanha et al., 2022). They create an environment of trust and confidence, which is essential for attracting investment, fostering economic growth, and achieving sustainable development (Williams et al., 2022). The transition to a market-based economic system is typically a gradual and complex process that requires careful planning, policy adjustments, and sometimes external assistance (Chang & Hsieh, 2023). The pace and specific strategies may vary depending on the unique circumstances of the country in transition. Successful transitions often lead to increased economic efficiency, innovation, and higher living standards, but they can also pose challenges and require careful management to avoid negative social and economic consequences. (Wang & Zhang, 2022) Explain The Implication For Management Practice Of National Difference In Political Economy The national differences in political economy can have significant implications for management practices, particularly for businesses operating across borders or in international markets (Tian & Feng, 2022). Understanding and adapting to these differences is essential for the success of multinational corporations and for managers dealing with international business environments (Liu & Li, 2022). The regulatory environment, also known as the regulatory landscape or regulatory framework, refers to the set of rules, laws, policies, and government regulations that govern

and guide various aspects of economic and business activities within a specific jurisdiction or industry (Parra-Arroyo et al., 2022). These regulations are established by governmental authorities at different levels, and they play a significant role in shaping and controlling how businesses operate (Zhao et al., 2022). The political economy of a country dictates its regulatory environment. Differences in laws, regulations, and government policies can significantly impact management practices(Zhao et al., 2022). Managers need to be aware of and comply with various rules related to areas such as labor, environmental standards, product safety, and taxation (Liu & Li, 2022). The stability of a country's government and its political risk can affect business operations(Askari, 2012). In politically unstable regions, managers may need to consider strategies for mitigating risks, such as investing in political risk insurance or diversifying operations to more stable areas (Athari et al., 2023). Understanding government stability and risk is essential for businesses and investors when considering operations in a particular country or region. It informs risk assessments, strategic planning, and decision-making, helping to mitigate potential challenges associated with political and governance factors (Schwendner et al., 2015). Political risk assessments and country risk analyses are common tools used by businesses and investors to evaluate government stability and risk in specific locations (Davies & Ng, 2011). Trade policies in economics refer to the rules, regulations, and measures that a country or economic bloc (such as the European Union) implements to govern its international trade activities (Russo et al., 2023). These policies are designed to shape a country's trade relationships, protect domestic industries, and influence the flow of goods and services across its borders (Caliendo & Parro, 2022). Trade policies have a significant impact on a nation's economic performance and its global trade interactions (Russo et al., 2023). National differences in trade policies, such as tariffs, trade agreements, and export/import regulations, can impact supply chain management, production processes, and market entry strategies. Managers must navigate these differences to optimize their international trade activities (Evenett et al., 2022). Differences in tax policies can impact financial management practices (Tendengu et al., 2022). Managers need to consider tax implications when making decisions about investments, capital allocation, and financial reporting (Özmen et al., 2022). taxation and fiscal policies are essential tools for governments to manage their economies, address societal needs, and achieve

various economic and social objectives (Adebayo & Samour, 2023). The design and implementation of these policies require careful consideration of their impact on economic growth, income distribution, and government finances (Mahmood et al., 2022). Effective taxation and fiscal policies can contribute to economic stability and sustainable development (Tendengu et al., 2022). Labor market conditions refer to the state of employment and job opportunities within a specific region or country (Zarifhonarvar, 2023). These conditions are influenced by various factors and can have a significant impact on job seekers, employers, and the overall economy. (Atal et al., 2022) Labor market conditions are dynamic and can change over time due to economic cycles, technological advancements, shifts in industry demand, and various other factors (Argyroudis et al., 2022a). Job seekers, employers, policymakers, and labor market analysts closely monitor these conditions to make informed decisions regarding employment, investment, and economic policies (Argyroudis et al., 2022b). A market entry strategy is a plan or approach used by a company to enter a new geographic or product market (Adxamovna, 2022). It involves making informed decisions about how to introduce products or services, establish a presence, and compete in a new market. The choice of market entry strategy depends on various factors, including the target market, the company's goals, resources, and the competitive landscape (Wood, 2023). Selecting the appropriate market entry strategy is a critical decision that can impact a company's success in a new market. It should align with the company's goals, resources, risk tolerance, and understanding of the local market dynamics. Flexibility, adaptability, and a well-thought-out strategy are key to successful market entry and long-term growth (Abaidoo & Agyapong, 2021). In summary, national differences in political economy have far-reaching implications for management practices in international business. Adapting to these differences, staying informed about the political and regulatory environment, and being culturally sensitive are essential for effective management in a globalized world (Krauss & Kroeber, 2021).

Conclusion Global trade and investment have a significant impact on both the economy and the environment. Maintaining a balance between these two is essential for sustainable development. While global trade provides opportunities for economic growth and development, it also leads to environmental degradation due to increased emissions and resource depletion. Therefore, it is crucial to adopt policies and practices that promote sustainable trade and investment. This can be achieved by promoting the use of eco-friendly technology, investing in renewable energy, and enforcing international environmental regulations. In conclusion, balancing the environment and economy through global trade and investment requires collaborative efforts between governments, private sectors, and individuals to ensure that economic development is achieved without compromising the environment and future generations' well-being.

REFERENSI Abaidoo, R., & Agyapong, E. (2021). Macroeconomic risk and political stability: perspectives from emerging and developing economies. Global Business Review, 09721509211047650. Abdurrahman, Purwoko, A. B., Marlina, A. S., Hapsari, A. P., S., A. E. N., Andrianty, G., Nurmalia, I., Husman, J. A., Pandiangan, R. D., Sari, R. W., Dewi, R., Nugrahawan, S., Chawwa, T., & Harmawa, Y. A. (2023). Laporan Perekonomian Indonesia 2022 (Bank Indonesia). Nucl. Phys. Achmad Fauzi, Delila Rambe, Raihan Dwi Saputra, Dessy Ferdhita Ramadhanty, Maulida Karimah, Siti Nurhayati, & Arani Tri Kinasih. (2023). Analisis Melemahnya Kurs Rupiah Di Era Pandemi Covid-19. Jurnal Akuntansi Dan Manajemen Bisnis, 3(1). https://doi.org/10.56127/jaman.v3i1.640 Adebayo, T. S., & Samour, A. (2023). Renewable energy, fiscal policy and load capacity factor in BRICS countries: novel findings from panel nonlinear ARDL model. Environment, Development and Sustainability, 1–25. Adelina, E. F., Hadi, W., & Setiawan, A. (2021). Unjuk Kerja Motor Brushless Direct Current 3 Phase Tipe Axial Flux dengan Perbedaan Bentuk Magnet Neodymium. Jurnal Arus Elektro Indonesia, 7(2). https://doi.org/10.19184/jaei.v7i2.25500 Adxamovna, B. G. (2022). Improving the organizational and economic mechanism of management of food industry enterprises. Conferencea, 71–75. Afandi, F. A. (2023). Pemanfaatan Presidensi Indonesia dalam G20 Untuk Pembangunan Ekonomi Hijau dan Dekarbonisasi Indonesia 2060. Jurnal Analis Kebijakan, 6(1). https://doi.org/10.37145/jak.v6i1.441 Aflah, Budi Utomo, S., & Hasibuan, P. M. (2023). Keterkaitan Hukum Perdagangan Internasional Dan Investasi Serta Manfaat Dan Kekurangan Perdagangan Internasional Dan Investasi. Jurnal Panorama Hukum, 8(1). https://doi.org/10.21067/jph.v8i1.8353 Almeida, J., & Gonçalves, T. C. (2023). A systematic literature review of investor behavior in the cryptocurrency markets. In Journal of Behavioral and Experimental Finance (Vol. 37). https://doi.org/10.1016/j.jbef.2022.100785

Andriani, V., Muljaningsih, S., & Asmara, K. (2021). Analisis Pengaruh Penanaman Modal Asing, Ekspor, Utang Luar Negeri, Dan Tingkat Inflasi Terhadap Produk Domestik Bruto Indonesia. Equilibrium : Jurnal Ilmiah Ekonomi, Manajemen Dan Akuntansi, 10(2). https://doi.org/10.35906/je001.v10i2.777 Anugrah, K., Simanjorang, R. C., Hutabarat, A. R. H., Pakpahan, R. J., & Sipahutar, T. T. U. (2020). Pengaruh Pertumbuhan Ekonomi dan Inflasi terhadap Profitabilitas pada Perusahaan Makanan dan Minuman di BEI. Owner (Riset Dan Jurnal Akuntansi), 4(2). https://doi.org/10.33395/owner.v4i2.269 Argyroudis, S. A., Mitoulis, S. A., Chatzi, E., Baker, J. W., Brilakis, I., Gkoumas, K., Vousdoukas, M., Hynes, W., Carluccio, S., & Keou, O. (2022a). Digital technologies can enhance climate resilience of critical infrastructure. Climate Risk Management, 35, 100387. Argyroudis, S. A., Mitoulis, S. A., Chatzi, E., Baker, J. W., Brilakis, I., Gkoumas, K., Vousdoukas, M., Hynes, W., Carluccio, S., & Keou, O. (2022b). Digital technologies can enhance climate resilience of critical infrastructure. Climate Risk Management, 35, 100387. Ari, S. Y., Putri, R. A., & Mukaromah, H. (2023). Perubahan karakteristik aktivitas perdagangan sebelum dan saat pandemi Covid-19 (studi kasus : kawasan perdagangan jasa Pasar Kliwon, Surakarta). Region : Jurnal Pembangunan Wilayah Dan Perencanaan Partisipatif, 18(2). https://doi.org/10.20961/region.v18i2.59577 Ariga, S. (2023). Implementasi Kurikulum Merdeka Pasca Pandemi Covid-19. Edu Society: Jurnal Pendidikan, Ilmu Sosial Dan Pengabdian Kepada Masyarakat, 2(2). https://doi.org/10.56832/edu.v2i2.225 Ariyadi. (2022). Prinsip-prinsip Kearifan Lokal Masyarakat Dayak Dalam Pengelolaan Hutan Di Kalimantan Tengah (Membangun Sinergi Hukum Adat, Hukum Islam Dan Hukum Nasional Dalam Pengelolaan Lingkungan Hidup). Pascasarjana UIN Antasari Banjarmasin, 8.5.2017. Artha Madya Saragih, Nau, N. U. W., & Simanjuntak, T. R. (2023). Kebijakan Pemerintah Kota Batam Dalam Sektor International Shipping Di Masa Pandemi Covid-19 Tahun 2021. Administraus, 7(1). https://doi.org/10.56662/administraus.v7i1.200

Ascarya, A. (2022). The role of Islamic social finance during Covid-19 pandemic in Indonesia’s economic recovery. International Journal of Islamic and Middle Eastern Finance and Management, 15(2), 386–405. Askari, H. (2012). Islamic finance, risk-sharing, and international financial stability. Yale J. Int’l Aff., 7, 1. Atal, J. P., Cuesta, J. I., González, F., & Otero, C. (2022). The economics of the public option: Evidence from local pharmaceutical markets. National Bureau of Economic Research. Athari, S. A., Irani, F., & Hadood, A. A. (2023). Country risk factors and banking sector stability: Do countries’ income and risk-level matter? Evidence from global study. Heliyon. Atmaja, D. S., Zaroni, A. N., & Yusuf, M. (2023). Actualization Of Performance Management Models For The Development Of Human Resources Quality, Economic Potential, And Financial Governance Policy In Indonesia Ministry Of Education. Multicultural Education, 9(01), 1–15. Barcelos, E. J. B. V., Borini, F. M., & Amatucci, M. (2023). The role of a local network in achieving contextual ambidexterity in foreign subsidiaries operating in Brazil – a multilevel analysis. Review of International Business and Strategy, 33(1). https://doi.org/10.1108/RIBS-03-2021-0045 Barzel, Y., & Allen, D. W. (2023). Economic analysis of property rights. Cambridge university press. Bhagat, S., & Hubbard, G. (2022). Rule of law and purpose of the corporation. Corporate Governance: An International Review, 30(1), 10–26. Boneva, L., Ferrucci, G., & Mongelli, F. P. (2022). Climate change and central banks: what role for monetary policy? Climate Policy, 22(6), 770–787. Cahyadi, I. F. (2019). Pengelolaan Manajemen Risiko Sebagai Upaya Tindakan Preventif Pada Pembiayaan Mudharabah. TAWAZUN : Journal of Sharia Economic Law, 2(2). https://doi.org/10.21043/tawazun.v2i2.3547 Caliendo, L., & Parro, F. (2022). Trade policy. Handbook of International Economics, 5, 219–295.

Chang, Y. J., & Hsieh, I. Y. L. (2023). Transitioning from illegal rooftop dwellings to solar PV: Market-based incentive design and techno-economic analysis. Energy Strategy Reviews, 49. https://doi.org/10.1016/j.esr.2023.101154 Daniaty, D., Firmansyah, B., Ardiansyah, A., & Efendi, T. (2022). Analisis Bibliometrik pada Penerapan Artificial Intelligence di Smart Manufacturing. Seminar Nasional Official Statistics, 2022(1). https://doi.org/10.34123/semnasoffstat.v2022i1.1120 Davies, M. R. L., & Ng, T. (2011). The rise of sovereign credit risk: implications for financial stability. BIS Quarterly Review, September. Dicky, C. (2020). Hambatan Perdagangan Internasional: Definisi Tarif dan Jenisnya. 12 November. Dwi, I., & Jalungono, G. (2022). Analisis Faktor-Faktor Yang Mempengaruhi Pertumbuhan Ekonomi Provinsi Jawa Tengah. Transekonomika: Akuntansi, Bisnis Dan Keuangan, 2(3). https://doi.org/10.55047/transekonomika.v2i3.122 Dwi Krisdianto, F., & Gunawan, S. (2023). Analisis Strategi Bisnis Percetakan Di Era Digitalisasi Pada Segmen Produk Label Dan Kemasan Studi Pada Perusahaan Pt. Xyz. Jmbi Unsrat (Jurnal Ilmiah Manajemen Bisnis Dan Inovasi Universitas Sam Ratulangi)., 10(2). https://doi.org/10.35794/jmbi.v10i2.49846 Dwi Lestari, A. A., & Merthayasa, A. (2023). Peran Teknologi dalam Perubahan Bisnis di Era Globalisasi. Syntax Literate ; Jurnal Ilmiah Indonesia, 7(11). https://doi.org/10.36418/syntax-literate.v7i11.13517 Eka Mulia Nurul Al Amin. (2020). Kebijakan Moneter di Indonesia. In Google Buku (Issue 6). Evenett, S., Fiorini, M., Fritz, J., Hoekman, B., Lukaszuk, P., Rocha, N., Ruta, M., Santi, F., & Shingal, A. (2022). Trade policy responses to the COVID‐19 pandemic crisis: Evidence from a new data set. The World Economy, 45(2), 342–364. Fajarini, D., Nirmala, T., & Purwaningsih, V. T. (2023). Kebijakan Moneter dan Investasi Portofolio Asing. Jurnal Ekonomi Dan Bisnis Nias Selatan, 6(2). Farhan, M., & Sugianto, S. (2022). Analisis Faktor-Faktor Yang Mempengaruhi Tingkat Ketimpangan Pendapatan Di Pulau Jawa. Sibatik Journal: Jurnal Ilmiah Bidang Sosial,

Ekonomi, Budaya, Teknologi, Dan Pendidikan, 1(4). https://doi.org/10.54443/sibatik.v1i4.29 Fatriani, R. R., Maria, M., & Amri, D. (2023). Pengaruh Politik, Perencanaan Anggaran, dan Fiscal Stress terhadap Perubahan Anggaran. Kompeten: Jurnal Ilmiah Ekonomi Dan Bisnis, 2(2). https://doi.org/10.57141/kompeten.v2i2.68 Firda Miftakhul Jannah. (n.d.). Peningkatan Ekonomi Di Tengah Pandemi Dalam Menunjang Pergerakan Pertumbuhan Ekonomi Di Surabaya. Fitriana, S. M., Permanasari, A. E., & Sanjaya, G. Y. (2023). Evaluasi Migrasi Dan Integrasi Sistem Informasi Manajemen Rumah Sakit Menggunakan Metode Hot-Fit Di RS Pratama Kota Yogyakarta. Jurnal Admmirasi, 8(1). https://doi.org/10.47638/admmirasi.v8i1.233 Gafur Masâ€TMud, A., & Rochaida, E. (2022). Determinan tingkat pertumbuhan ekonomi dan tingkat kemiskinan. FORUM EKONOMI, 24(1). https://doi.org/10.30872/jfor.v24i1.10393 Gijoh, L. G. G. (2021). Implementasi Hukum Dalam Kontrak Bisnis Internasional. Lex Et Societatis, 9(1). https://doi.org/10.35796/les.v9i1.32142 Gkiouleka, A., Huijts, T., Beckfield, J., & Bambra, C. (2018). Understanding the micro and macro politics of health: Inequalities, intersectionality & institutions - A research agenda. In Social Science and Medicine (Vol. 200). https://doi.org/10.1016/j.socscimed.2018.01.025 Gorodnichenko, Y., Pham, T., & Talavera, O. (2023). The voice of monetary policy. American Economic Review, 113(2), 548–584. Gumilar, A. (2018). Analisis Bisnis Internasional Di Indonesia. Jurnal ADBIS, 2(2). Guo, H., Liang, D., Sun, Z., Chen, F., Wang, X., Li, J., Zhu, L., Bian, J., Wei, Y., & Huang, L. (2022). Measuring and evaluating SDG indicators with Big Earth Data. Science Bulletin, 67(17), 1792–1801. Hidayah, S. N. (2019). Hybrid Model-Based Learning Learning in Welcome Era Industrial Revolution 4.0. The Innovation of Social Studies Journal, 1(1). https://doi.org/10.20527/iis.v1i1.1262

Hill, C. W. L. (2023). International business : competing in the global marketplace. Hossin, M. S. (2023). Interest rate deregulation, financial development and economic growth: Evidence from Bangladesh. Global Business Review, 24(4), 690–703. Humphrey, C. E. (2019). Privatization in Bangladesh: economic transition in a poor country. Routledge. Ichsan, A. K. N., & Verena, V. V. (2020). Mampukah Industri Kreatif Mengatasi Kejenuhan Pertumbuhan Ekonomi Nasional? Jurnal Ekonomi Indonesia, 9(2). https://doi.org/10.52813/jei.v9i2.31 If’all, & Unsunnidhal, L. (2023). Tumbuh Bersama: Mendukung Pertanian Lokal, Ketahanan Pangan, Kelestarian Lingkungan, dan Pengembangan Masyarakat. Jurnal Pengabdian West Science, 2(05). https://doi.org/10.58812/jpws.v2i5.376 Indrawati, S. M., Kuncoro, A., & Ikhsan, M. (2019). Reputasi dan Kredibilitas sebagai Upaya untuk Mengatasi Masalah Koordinasi dan Reformasi yang Berkelanjutan. Jurnal Ekonomi Dan Pembangunan Indonesia, 19(2), 8. Indriyani, Q., & Setyowati, L. (2023). Pengaruh Rasio Keuangan Terhadap Perubahan Laba Pada Perusahaan Manufaktur. Jurnal Ilmiah Mahasiswa Perbankan Syariah (JIMPA), 3(1). https://doi.org/10.36908/jimpa.v3i1.158 Junaedi, D., & Salistia, F. (2020). Dampak Pandemi COVID-19 Terhadap Pertumbuhan Ekonomi Negara-Negara Terdampak. Simposium Nasional Keuangan Negara. kementrian keuangan. (2023). Pertumbuhan Ekonomi Nasional Triwulan III-2022 Sebesar 5,72%, Menkeu : Cerminan Menguatnya Pemulihan Ekonomi Nasional di Tengah Ketidakpastian Ekonomi Global. Https://Www.Kemenkeu.Go.Id/InformasiPublik/Publikasi/Berita-Utama/Perekonomian-Indonesia-Triwulan-III-2022-5,7. Khan, M. A., Gu, L., Khan, M. A., & Meyer, N. (2022). The effects of national culture on financial sector development: Evidence from emerging and developing economies. Borsa Istanbul Review, 22(1), 103–112. Koll, W., & Watt, A. (2022). The Macroeconomic Imbalance Procedure at the Heart of EU Economic Governance Reform. Intereconomics, 57(1), 56–62.

Krauss, S., & Kroeber, C. (2021). How women in the executive influence government stability. Journal of European Public Policy, 28(9), 1372–1390. Kumajas, L. I., Saerang, D. P. E., Maramis, J. B., Dotulong, L. O. H., & Soepeno, D. (2022). Kontradiksi Sustainable Finance : Sebuah Literatur Review Contradictions Of Sustainable Finance : A Literature Reviw Jurnal Emba Vol . 10 No . 2 April 2022 , Hal . 1034-1041. Jurnal EMBA: Jurnal Riset Ekonomi, Manajemen, Bisnis Dan Akuntansi, 10(2). Kung, C.-C., Zheng, B., Li, H., & Kung, S.-S. (2022). The development of input-monitoring system on biofuel economics and social welfare analysis. Science Progress, 105(3), 00368504221118350. Lestari, D. E. G. (2020). Peran Komunikasi dalam Proses Modernisasi Masyarakat Desa Pertanian. Satwika : Kajian Ilmu Budaya Dan Perubahan Sosial, 4(2). https://doi.org/10.22219/satwika.v4i2.14108 Liu, M., & Li, Y. (2022). Environmental regulation and green innovation: evidence from China’s carbon emissions trading policy. Finance Research Letters, 48, 103051. Mahmood, H., Adow, A. H., Abbas, M., Iqbal, A., Murshed, M., & Furqan, M. (2022). The fiscal and monetary policies and environment in GCC countries: analysis of territory and consumption-based CO2 emissions. Sustainability, 14(3), 1225. Markuat, M. (2022). Dampak Penetapan Lockdown Bagi Sebuah Negara Dalam Pemenuhan Kebutuhan Berdasarkan Asas Keadilan. JPeHI (Jurnal Penelitian Hukum Indonesia), 1(6). Masfiatun. (2021). Dampak Covid-19 dan Variabel Makroekonomi terhadap Stabilitas Perbankan Syariah di Indonesia. Jurnal Ilmiah Akuntansi Dan Keuangan, 4(2). Maswati, M., Rosmiati Ramli, Kalbi Jafar, & Sumadin. (2023). Inovasi Pembelajaran pada Pendidikan Anak Usia Dini di Masa Pandemi Covid-19. Indonesian Journal of Educational Science (IJES), 5(2). https://doi.org/10.31605/ijes.v5i2.1951 Maulani, A. (2021). Mendorong Pembangunan Ekonomi Inklusif. Harian KONTAN. Mulyawanti, I., Dewandari, K. T., & Syamsuri, P. (2023). The Potential Of Sorghum for Wheat Substitution in Diversification Perspective Of Processed Products. Jurnal Analis Kebijakan, 6(2). https://doi.org/10.37145/jak.v6i2.553

Murni, Y. (2019). Perkembangan Siklus Bisnis (Real Business Cycle): A Review Yanti Murni. Ensiklopedia of Journal, 1(2). Mutiara, F. (2022). Entrepreneurial Marketing Start-Up Media Siber Lokal Kempalan.Com Di Jawa Timur: Strategi Menuju Sustainability? Jurnal Manajemen Pemasaran, 16(1). https://doi.org/10.9744/pemasaran.16.1.16-23 Nagel, P. J. F., & Suhartatik, A. (2022). Sumber Daya Alam Perlu Dirawat Dan Dilestarikan Guna Fungsi Dan Perannya Dalam Pembangunan Ekonomi. Jurnal Sumberdaya Bumi Berkelanjutan (SEMITAN), 1(1). https://doi.org/10.31284/j.semitan.2022.3015 Necoechea-Porras, P. D., López, A., & Salazar-Elena, J. C. (2021). Deregulation in the energy sector and its economic effects on the power sector: A literature review. Sustainability, 13(6), 3429. Nelson, N., & Meiden, C. (2023). Implementasi Prinsip Isi dan Kualitas pada Laporan Keberlanjutan. Jurnal Ilmiah Universitas Batanghari Jambi, 23(1). https://doi.org/10.33087/jiubj.v23i1.2965 Nihayah, A. Z., & Rifqi, L. H. (2022). Analisis Indikator Makro Ekonomi Pada Masa Pandemi Covid-19. Jurnal STEI Ekonomi, 31(01). https://doi.org/10.36406/jemi.v31i01.495 Ningsih, E., Albanna, I., Radityaningrum, A. D., Ni’am, A. C., & Nurhadianty, V. (2022). Program Bantuan Bahan Pangan Dan Kajian Strategik Dampak Lockdown Melalui Coorporate Social Responsibility Covid-19. Jmm (Jurnal Masyarakat Mandiri), 6(3). https://doi.org/10.31764/jmm.v6i3.8396 Normansyah, N. (2022). Memberdayakan Umkm Dalam Ekonomi Di Kelurahan Bunut Kecamatan Kisaran Barat Kabupaten Asahan. Community Development Journal : Jurnal Pengabdian Masyarakat, 3(2). https://doi.org/10.31004/cdj.v3i2.4272 Nurita, D. (2021). Menanti Integrasi Pendidikan Iklim dalam Kurikulum. Tempo.Co. Nurwanda, A., & Rifai, B. (2018). Diagnosis Pertumbuhan Ekonomi dan Output Potensial Indonesia. Kajian Ekonomi Dan Keuangan, 2(3), 177–194. https://doi.org/10.31685/kek.v2i3.385 Oatley, T., & Petrova, B. (2022). The global deregulation hypothesis. Socio-Economic Review, 20(2), 611–633.

Oeliestina, O. (2020). Pengaruh Ekspor, Impor dan Kurs Rupiah terhadap pertumbuhan ekonomi Provinsi Jambi. Jurnal Menara Ekonomi : Penelitian Dan Kajian Ilmiah Bidang Ekonomi, 6(2). https://doi.org/10.31869/me.v6i2.1771 Oppusungu, L. S., Tobing, F., Siregar, E., & Juniasti, R. (2023). Analisis Terhadap Solusi Penanganan Kredit Bermasalah Dampak Pandemi Covid 19 Pada Perbankan. Jurnal Ekobis : Ekonomi Bisnis & Manajemen, 13(1). https://doi.org/10.37932/j.e.v13i1.646 Ozatbekova, O., Ozatbekov, Y., & Gulamov, A. (2022). The Impotance of the Development of financial Markets in the Economy in Uzbekistan. Общественные Науки в Современном Мире: Теоретические и Практические Исследования, 1(20), 40–45. Özmen, İ., Özcan, G., Özcan, C. C., & Bekun, F. V. (2022). Does fiscal policy spur environmental issues? New evidence from selected developed countries. International Journal of Environmental Science and Technology, 19(11), 10831–10844. Pardede, R. P., & Listari, S. (2023). Kinerja Keuangan Bank Pada Masa Pandemi COVID-19. Jurnal Ilmiah Manajemen Kesatuan, 11(1). https://doi.org/10.37641/jimkes.v11i1.1726 Parra-Arroyo, L., González-González, R. B., Castillo-Zacarías, C., Martínez, E. M. M., SosaHernández, J. E., Bilal, M., Iqbal, H. M. N., Barceló, D., & Parra-Saldívar, R. (2022). Highly hazardous pesticides and related pollutants: Toxicological, regulatory, and analytical aspects. Science of The Total Environment, 807, 151879. Permana, R. S. M., Sumarlina, E. S. N., & Darsa, U. A. (2023). Meneropong Transisi Politik Kekuasaan Indonesia 2010-2015. KABUYUTAN, 1(3). https://doi.org/10.61296/kabuyutan.v1i3.77 Phan, T. N. T., Bertrand, P., Phan, H. H., & Vo, X. V. (2023). The role of investor behavior in emerging stock markets: Evidence from Vietnam. Quarterly Review of Economics and Finance, 87. https://doi.org/10.1016/j.qref.2021.07.001 Prasaja, M. (2020). Analisis Pengukuran Rasio Keuangan dan Makro Ekonomi Terhadap Profitabilitas Bank Syariah. Annual Conference On Ihtifaz: Islamic Economics, Finance, and Banking. Prasetyo, A. W., & Windarta, J. (2022). Pemanfaatan Teknologi Carbon Capture Storage (CCS) dalam Upaya Mendukung Produksi Energi yang Berkelanjutan. Jurnal Energi Baru Dan Terbarukan, 3(3). https://doi.org/10.14710/jebt.2022.14509

Rahmanto, I., & Ratnasari, R. T. (2023). The Effect of Store Atmosphere on Behavioral Intention at Retail Store with Customer Emotions as Intervening Variables. Jurnal Ekonomi Syariah Teori Dan Terapan, 10(2). https://doi.org/10.20473/vol10iss20232pp134-140 Ramadlani, A. S., Fajri, N., & Santos, E. D. A. Dos. (2023). Studi Literatur: Strategi Kewirausahaan Dalam Upaya Mengembangkan Usaha Masyarakat. Comm-Edu (Community Education Journal), 6(1). https://doi.org/10.22460/comm-edu.v6i1.11010 Rifa, T., & Hossain, M. B. (2023). Micro Plastic Pollution in Southasia: The Impact of Plastic Pollution over the Unsustainable Development Goals. Lex Publica, 9(2). https://doi.org/10.58829/lp.9.2.2022.01-28 Russo, M., Alboni, F., Sanginés, J. C., De Domenico, M., Mangioni, G., Righi, S., & Simonazzi, A. (2023). Regionalisation and cross-region integration. Twin dynamics in the automotive international trade networks. Structural Change and Economic Dynamics, 67, 98–114. Safitri, M. I. D. (2021). Analisis Dampak Belanja Pemerintah Daerah Terhadap Pertumbuhan Ekonomi Inklusif Jawa Timur. Indonesian Treasury Review: Jurnal Perbendaharaan, Keuangan Negara Dan Kebijakan Publik, 6(2). https://doi.org/10.33105/itrev.v6i2.339 Saldanha, D. M. F., Dias, C. N., & Guillaumon, S. (2022). Transparency and accountability in digital public services: Learning from the Brazilian cases. Government Information Quarterly, 39(2), 101680. Salehi, M., Ammar Ajel, R., & Zimon, G. (2022). The relationship between corporate governance and financial reporting transparency. Journal of Financial Reporting and Accounting. Santoso, G., Abdulkarim, A., Maftuh, B., Sapriya, & Murod, M. (2023). Kajian Ketahanan Nasional melalui Geopolitik dan Geostrategi Indonesia Abad 21. Jurnal Pendidikan Transformatif, 2(1). Schwendner, P., Schuele, M., Ott, T., & Hillebrand, M. (2015). European government bond dynamics and stability policies: taming contagion risks.

Setiawan, A., & Huda, S. (2021). Analisis Faktor yang Mempengaruhi Pertumbuhan Ekonomi Di Kabupaten Mojokerto. Jurnal Syntax Admiration, 2(8). https://doi.org/10.46799/jsa.v2i8.295 Shapiro, C., & Willig, R. D. (2019). Economic rationales for the scope of privatization. In The political economy of public sector reform and privatization (pp. 55–87). Routledge. Sidiq, S. (2023). Interseksi Hukum dan Ekonomi: Analisis Komprehensif terhadap Dinamika Regulasi dan Dampaknya terhadap Pertumbuhan Ekonomi. Muhammadiyah Law Review, 7(2). https://doi.org/10.24127/mlr.v7i2.2767 Sinaga, E., & L. Siagian, H. (2023). Pengaruh Beban Pajak Tangguhan dan Perencanaan Pajak terhadap Manajemen Laba pada Perusahaan Perdagangan, Jasa dan Investasi. Jurnal Sosial Sains, 3(5). https://doi.org/10.59188/jurnalsosains.v3i5.758 Sinaga, G. Y. G., Jessica Ayu Katherine, Muhammad Daffa Akhsya, Putri Rahmadina, & Saied Idris Baidhowi. (2023). Potensi Ekspor Briket Terhadap Perekonomian Indonesia. Juremi: Jurnal Riset Ekonomi, 2(5). https://doi.org/10.53625/juremi.v2i5.5181 Siregar, E. I., & . D. (2019). The Impact of Political Risk and Macro Economics on Stock Return at Indonesia Stock Exchange (An Approach of Arbritage Pricing Theory (APT)). KnE Social Sciences. https://doi.org/10.18502/kss.v3i26.5412 Siregar, E. S., Simbolon, Khairani Amalia Zahra, P. A., Anugrah, W. S. P., Sitorus, A. S., Wijaya, D. J., & Samosir, P. K. (2023). Analisis Pengaruh Penanaman Modal Asing Terhadap Lapangan Pekerjaan Di Indonesia. Jurnal Pionir LPPM Universitas Asahan, 9(1). Siregar, S. W., & Hasbi. (2023). Analisis Pengaruh Keterbukaan Perdagangan, Konsumsi Energi, Dan Pertumbuhan Ekonomi Terhadap Emisi Karbon Di Negara D-8. Jurnal Magister Ekonomi Syariah, 2(1). Siri, R., Hasniaty, H., & Mariana, L. (2022). Strategi Kebijakan Fiskal Menangani Dampak Pandemi COVID-19. Ekonomika, 6. Sitanggang, F., & Nasution, J. (2023). Urgensi Pemanfaatan E-Marketing Pada Keberlangsungan Umkm Di Kota Medan. Cemerlang : Jurnal Manajemen Dan Ekonomi Bisnis, 3(1).

Sjioen, A. E., Amaludin, Rukmana, A. Y., Syamsulbahri, & Wahyudi, I. (2023). Bisnis Berkelanjutan dan Tanggung Jawab Sosial Perusahaan: Studi tentang Dampak dan Strategi Implementasi. Jurnal Bisnis Dan Manajemen West Science, 2(03). https://doi.org/10.58812/jbmws.v2i03.557 Sriyana, J. (2021). Reformasi Kebijakan Fiskal untuk Pemulihan Ekonomi Nasional yang Berkeadilan. Jurnal Ekonomi Pembangunan Fakultas Bisnis Dan Ekonomika UII. Stermieri, L., Kober, T., McKenna, R., Schmidt, T. J., & Panos, E. (2023). Impacts of digitalization and societal changes on energy transition: a novel socio-techno-economic energy system model. Energy Strategy Reviews, 50, 101224. https://doi.org/10.1016/j.esr.2023.101224 Sugianto, & Permadhy, Y. T. (2020). Faktor Penyebab Pengangguran Dan Strategi Penanganan Permasalahan Pengangguran Pada Desa Bojongcae, Cibadak Lebak Provinsi Banten. Ikra-Ith Ekonomika, 2(3). Suleiman, E. N., & Waterbury, J. (2019a). Introduction: Analyzing privatization in industrial and developing countries. In The political economy of public sector reform and privatization (pp. 1–21). Routledge. Suleiman, E. N., & Waterbury, J. (2019b). Introduction: Analyzing privatization in industrial and developing countries. In The political economy of public sector reform and privatization (pp. 1–21). Routledge. Suradi, S., Syarifuddin, R., & Irianto, I. (2021). Perancangan Strategi Pemasaran Kopi Bisang Dengan Menggunakan Metode Balanced Scorecard. Journal Industrial Engineering and Management (JUST-ME), 2(01). https://doi.org/10.47398/justme.v2i01.11 Tendengu, S., Kapingura, F. M., & Tsegaye, A. (2022). Fiscal Policy and Economic Growth in South Africa. Economies, 10(9), 204. Tian, Y., & Feng, C. (2022). The internal-structural effects of different types of environmental regulations on China’s green total-factor productivity. Energy Economics, 113, 106246. Tripalupi, R. I. (2022). Dampak Pandemi Covid-19 : Bagaimana Sumber Daya Manusia di LKMS? Journal of Educational and Language Research, 1(VII).

Ujang Badru Jaman, & Endah Pertiwi. (2023). Kedaulatan Pajak Negara Indonesia Terhadap Perusahaan Multinasional Digital. Jurnal Aktiva : Riset Akuntansi Dan Keuangan, 5(1). https://doi.org/10.52005/aktiva.v5i1.178 Usul, A. (2023). Ruang Lingkup Ekonomi Makro. Pengantar Ekonomi Makro (Teori Dan Kebijakan). Utami, A. D. (2021). Pengaruh Green Accounting dan Kinerja Lingkungan terhadap Sustainble Development. Jurnal Reviu Akuntansi Dan Keuangan, 1(69). Veritia, Lubis, I., Priatna, I. A., & Susanto. (2019). Teori ekonomi Makro. In Teori Ekonomi Makro (Issue 1). Vinata Wisnu Saputra, R. A., Pramono, S. A., & Almunawwaroh, M. (2023). Melestarikan Lingkungan Kita: Mempromosikan Keberlanjutan, Melestarikan Sumber Daya, Melindungi Satwa Liar, dan Mendukung Inisiatif Hijau di Kawasan Kaki Gunung. Jurnal Pengabdian West Science, 2(05). https://doi.org/10.58812/jpws.v2i5.377 Vo, X. V. (2022). Trade integration and international financial integration: Evidence from Asia. The Singapore Economic Review, 67(04), 1275–1286. Wang, J., & Zhang, H. (2022). Political transparency, corporate governance and economic significance. International Journal of Disclosure and Governance, 1–18. Wati, A. E., Puteri, I. F. F., Lazuardi, M. R., Maksum, M. A., & Taryana, V. Y. S. (2023). Pengaruh Perjanjian Indonesia-Japan Economic Partnership Agreement (Ijepa) Terhadap Pangsa Pasar Produk Indonesia Di Jepang. Jurnal Economina, 2(1). https://doi.org/10.55681/economina.v2i1.280 Widjanarko, O. (2019). Siaran Pers Pertumbuhan Ekonomi. Departemen Komunikasi. Williams, R., Cloete, R., Cobbe, J., Cottrill, C., Edwards, P., Markovic, M., Naja, I., Ryan, F., Singh, J., & Pang, W. (2022). From transparency to accountability of intelligent systems: Moving beyond aspirations. Data & Policy, 4, e7. Wood, N. (2023). Foundations of Political Economy: some Early Tudor views on state and society. Univ of California Press.

Yin, H.-T., Chang, C.-P., & Wang, H. (2022). The impact of monetary policy on green innovation: Global evidence. Technological and Economic Development of Economy, 28(6), 1933–1953. Yuniarti, W. W. N. E. N. (2020). analisis faktor yang mempengaruhi tingkat pertumbuhan ekonomi di indonesia. Yusandi, H., & Karimi, K. (2022). Analisis Faktor-Faktor Yang Mempengaruhi Pertumbuhan Ekonomi Di Negara Asean. Abstract of Undergraduate Research, Faculty of Economics, Bung Hatta University, 21(3). Yusri, Chairina, & Rifdah Riyan Dara. (2023). Dampak Transmisi Kebijakan Moneter Terhadap Pertumbuhan Ekonomi Di Sumatera Utara. Jurnal Riset Mahasiswa Akuntansi, 11(1). https://doi.org/10.21067/jrma.v11i1.8222 Zainuri, Z., Oktavani, Z. T., & Viphindrartin, S. (2023). Pengaruh Pertumbuhan Ekonomi, Keterbukaan Perdagangan, Dan Stabilitas Politik Terhadap Perkembangan Pasar Saham Asean-5. Jurnal Ilmiah Bisnis Dan Ekonomi Asia, 17(1). https://doi.org/10.32815/jibeka.v17i1.1374 Zakiyatul Miskiyah, Arif Zunaidi, Sodiq Almustofa, & Mahrus Suhardi. (2022). Kebijakan Fiskal dalam Perspektif Ekonomi Makro Islam. Istithmar : Jurnal Studi Ekonomi Syariah, 6(1). https://doi.org/10.30762/istithmar.v6i1.33 Zarifhonarvar, A. (2023). Economics of chatgpt: A labor market view on the occupational impact of artificial intelligence. Available at SSRN 4350925. Zhao, X., Mahendru, M., Ma, X., Rao, A., & Shang, Y. (2022). Impacts of environmental regulations on green economic growth in China: New guidelines regarding renewable energy and energy efficiency. Renewable Energy, 187, 728–742.

“CULTURE AND INNOVATION: HOW CULTURAL DIFFERENCES INFLUENCE ECONOMIC GROWTH” Lecture In Charge : Dr. Eko Handayanto, Drs. M.M. NAMA ANGGOTA : Dewi Sekar Sari 202110160311662 Fataahu Anita P. 202110160311686 Muhtar Lutfhi 202110160311690 MANAGEMENT STUDY PROGRAM FACULTY OF ECONOMICS AND BUSINESS UNIVERSITY OF MUHAMMADIYAH MALANG 2023

INTRODUCTION Culture and innovation are two crucial factors that can influence economic growth (Kusumaningsih et al., 2023).In modern economics, innovation is of paramount importance in creating value, economic growth, and job creation (Widiatmaka et al., 2023).Meanwhile, cultural capital and values can also play a role in economic growth by enhancing productivity through innovation (Izza, 2023).However, the impact of cultural differences on economic growth is not fully understood and remains an intriguing area of research for scholars and policymakers (Faisal et al., 2023).This journal aims to analyze the role of cultural capital and values in economic growth through innovation and how cultural differences can affect economic growth (Indra Sabella, 2023). Cultural differences can influence the mindset and work style of a society(Budiono & Masing, 2022). Cultures that promote creativity, risk-taking, and collaboration tend to encourage innovation (Wu et al., 2023). Conversely, more traditional and hierarchical cultures may hinder innovation efforts due to an emphasis on conformity and strong norms (Ha et al., 2023). The values embraced by a culture can affect investment priorities and human resource development (Sulviana et al., 2023). Cultures that value education, research, and technological development are more likely to have a workforce ready to adopt innovation (Sari, 2023).Meanwhile, cultures that emphasize immediate profit and compliance may prioritize innovation less(Jantin et al., 2022). Barriers in interacting with other cultures can also impact innovation (Hariandi, 2022). Too many cultural differences can impede the transfer of knowledge and technology between countries, while cultures open to external influences tend to be more capable of leveraging global innovation (Ismanto & Pebruary, 2023). The importance of social aspects in innovation should not be overlooked (Monazam Tabrizi & Masri, 2021). Cultures that encourage collaboration, open communication, and strong interpersonal relationships can support innovation (Budiman & Budiman, 2021). Conversely, cultures that tend to be individualistic or highly competitive may hinder collaboration and the flow of ideas necessary for innovation (Essayahi & Aloune, 2022). Cultural differences can also be reflected in government regulations and policies (Yang et al., 2023). Cultures that emphasize strict regulation and protection of local interests may hinder innovation by restricting market access and competition (Selfana et al., 2023). On

the other hand, cultures that support open markets and healthy competition tend to promote innovation (Bayyinaturrosyi et al., 2023). Approaches to failure can also vary based on culture (Setiawan & Rochim, 2023). Cultures that celebrate failure as a valuable lesson are more likely to be bold in experimentation and trying new things, which can, in turn, lead to innovation. In contrast, cultures burdened by a fear of failure may inhibit innovation efforts (Nasution et al., 2023).

LITERATURE REVIEW Explain What Is Meant By The Culture Of A Society Culture in society is a collection of norms, values, beliefs, practices, and traditions shared by its members, influencing how they behave, interact, and lead their daily lives (Yuliyus & Susilawati, 2021). Culture reflects the collective identity of a group and can encompass aspects such as language, religion, art, music, food, value systems, and more(Izza, 2023). Within the culture of a society, you'll find several fundamental elements essential to its identity (Amelia et al., 2023). Beliefs and values represent the core principles and convictions that shape ideas of right and wrong, good and bad, and inform moral and ethical choices (Nasution et al., 2023). Customs and traditions encompass the rituals, ceremonies, and practices passed down through generations, including religious ceremonies, holidays, and cultural celebrations (Prawita & Mifti Jayanti, 2023). Norms establish the accepted standards of behavior, determining what is deemed socially acceptable and regulating how people interact with each other (Muslimah, 2023). Language is a fundamental aspect of culture, influencing how people communicate, express ideas, and transmit knowledge (Yang et al., 2023). Artistic expressions through art, music, literature, dance, and more are not only creative outlets but also reflections of cultural values and aesthetics (Essayahi & Aloune, 2022). Social institutions such as family, education, religion, and government are also shaped by the prevailing culture, impacting their structure and functioning (El Fadil & St-Pierre, 2023). Material culture includes tangible objects and artifacts created and used by a society, like tools, clothing, architecture, and technology (A. Lestari & Frinaldi, 2023). The culinary traditions of a society also play a crucial role in culture, reflecting its history, geography, and values through its unique foods and culinary practices (Novan Ramadhan et al., 2023). Belief systems and worldviews are shaped by cultural perspectives on the world, encompassing cosmology, religious beliefs, and philosophical outlook (Prajogo & Tahang, 2023). Social hierarchies within a society are similarly affected by culture, determining power dynamics, decision-making processes, and societal roles and expectations (Jainuddin et al., 2023). Culture is a dynamic entity that evolves over time, responding to historical events, technological advances, and interactions with other cultures (Pradnyani, 2023).It plays a pivotal role in shaping the identities and behaviors of individuals and communities within a

society, and understanding a society's culture is vital for comprehending its values, traditions, and social dynamics (Aswar, 2023). Culture play a crucial role in the economic development of a country. Various cultural elements, including social norms, values, beliefs, and practices passed down from generation to generation, have a significant impact on a society's ability to foster innovation (Hariandi, 2022). Hence, a profound understanding of how cultural differences affect innovation and economic growth becomes exceedingly important. To delve into this, it is crucial to understand how culture influences innovation and how cultural variations can shape the economic outcomes of a country (Ismanto & Pebruary, 2023). Moreover, culture also plays a key role in providing social support and an environment that fosters innovation (Mohd. Yusuf D.M. et al., 2022). In countries that embrace a culture promoting cooperation and social interaction, individuals tend to be more open in sharing their ideas, creating an atmosphere that supports innovation through productive idea exchange. Furthermore, differences in the dimensions of femininity and masculinity in culture also influence innovation (Monazam Tabrizi & Masri, 2021). Identify The Forces That Lead To Differences In Social Culture Understanding the factors that create differences in social culture involves an understanding of the various elements and influences that shape the distinctive characteristics of a society's culture (Budiono & Masing, 2022). Some key elements that influence cultural diversity include aspects of history and the impact of colonization, which can introduce new concepts, languages, and traditions or preserve existing cultural practices (Ponomareva et al., 2022). Furthermore, the geography and physical environmental conditions of a region can shape distinct cultural practices and ways of life (Purnomo et al., 2023). Religion and belief systems that dominate a society also play a significant role in shaping cultural values, rituals, and morals (Wu et al., 2023). Historical factors wield considerable influence, with events such as colonization, migrations, wars, and interactions with other cultures leaving an enduring mark on a society's traditions and collective memory (Nasution et al., 2023). Geography and environmental conditions, including climate, resources, and terrain, significantly affect how people live and engage in economic activities, thereby molding cultural norms and practices (Setiawan & Rochim, 2023). Religion and belief systems play a central role in shaping the moral and ethical codes of a society, leading to diverse rituals, customs, and values (Amelia et al., 2023). Language,

another fundamental element of culture, influences thought patterns, communication, and knowledge transmission, contributing to linguistic and cultural diversity (Prawita & Mifti Jayanti, 2023). Economic structures, wealth distribution, and development levels have a direct impact on societal practices and hierarchies (Bayyinaturrosyi et al., 2023). The form of government and political ideologies can influence power structures and individual freedoms (Buchanuddin et al., 2023). Technological advancements and innovations can drive cultural shifts and adaptations (Melisa Alvionita et al., 2023). Cultural differences influence innovation, shape the mindset and behavior of individuals within a society, the unique culture of each country, from individualism to collectivism, and tolerance for uncertainty, affect creativity and the approach to risk in innovation. (Hsu & (Kellan) Nguyen, 2023). Culture encourages individualism and the exploration of new ideas, while collectivist culture prioritizes cooperation and social harmony (Hu & Qi, 2022). Cultural differences greatly influence the behavior of individuals and communities in terms of their attitudes toward risk in entrepreneurship and their ability to adapt to change (Sihombing, 2023). Culture shapes norms and perceptions in society, which play a crucial role in driving innovation and economic growth (Pourgharib & Asl, 2022). Countries with cultures that encourage risk-taking and rapid adaptation to change tend to be more innovative, particularly in the business and technology sectors (Al Qusaeri et al., 2023). Cultural differences also yield variations in values related to entrepreneurial risk and readiness to adapt to change (Budiman & Budiman, 2021). Countries that embrace a culture that encourages risk-taking and the ability to confront change tend to exhibit higher levels of innovation, especially in the context of business and technology (Costa & Habib, 2023). Identify The Business And Economic Implications Of Differences In Social Culture Social cultural differences have a significant impact on the business and economic fields and need to be a focal point of understanding for individuals and companies operating on a global scale (Kai, 2023). The implications of these cultural differences involve various aspects, ranging from consumer behaviors and preferences to market entry strategies (Andin & M.Z, 2023). Understanding cultural differences allows companies to tailor their products, marketing methods, and distribution to align with local cultural preferences, thus reducing the risk of products not fitting into that cultural environment (Ha et al., 2023).

Consumer choices and behaviors are shaped by cultural subtleties, affecting when, how, and what people buy (Fidorova et al., 2023). Adapting pricing, products, and marketing strategies to harmonize with these cultural distinctions is pivotal for achieving success (Satria Efandi et al., 2023). Market entry and expansion strategies must be attuned to the cultural compatibility of products and services in new markets (Widayani, 2023). Understanding the local culture is fundamental for making well-informed decisions regarding international growth (Suriadi & Frinaldi, 2023). Cultural sensitivity is crucial in marketing and advertising campaigns, as messages, symbols, and values must resonate positively with the local audience (Abdul Rohman Alasyari et al., 2023). This often requires modifications to marketing materials and strategies to prevent cultural misunderstandings or offense (Novan Ramadhan et al., 2023). Cultural differences give rise to varying management and leadership styles, and what works well in one cultural setting might be ineffective in another (Prajogo & Tahang, 2023). Businesses operating on a global scale must navigate these disparities in their management practices (Jainuddin et al., 2023). Efficiency in the supply chain and logistics can also be influenced by cultural factors (Puspita & Putra, 2023). Punctuality, business etiquette, and communication styles can impact the flow and effectiveness of these operations (Muslimah, 2023). Cultural differences in entrepreneurial risk-taking approaches have a significant impact on the level of innovation in a country (Augusta et al., 2022). A culture that encourages measured risk-taking often creates an environment in which individuals and companies feel comfortable exploring new ideas (El Fadil & St-Pierre, 2023). In contrast, a highly conservative culture that is averse to taking risks can hinder the progress of innovation, with individuals tending to be more compliant with existing norms and avoiding the risks associated with innovative endeavors (Essayahi & Aloune, 2022). Recognize How Differences In Social Culture Influence Values In Business Understanding how cultural differences in society impact values in the business world holds great significance in recognizing the impact of cultural diversity in various aspects of global business (Rogito & Nyamota, 2022). There are several cultural factors that influence values in the business world, one of which is how culture guides work ethics and its influence on employee approaches and productivity (Sulviana et al., 2023).

First and foremost, ethical values are deeply intertwined with cultural norms and moral standards (Rachmad & Sasongko, 2023). What may be deemed an ethical business practice in one culture can be seen as ethically questionable in another (Wijayanto et al., 2023). It is imperative for businesses to comprehend these variations and act ethically within diverse cultural contexts (Dolphina et al., 2023) Work ethic is another domain where cultural distinctions are vividly evident (Bustomi & Katiah, 2023). Work hours, the level of commitment to the job, and the overall attitude toward work can vary dramatically from one culture to another (Armiyanti et al., 2023). These differences influence business values related to dedication, hard work, and the balance between professional and personal life (Daraba et al., 2023). Communication styles, encompassing directness, formality, and non-verbal cues, are also heavily influenced by cultural norms (Yudistia, 2023). Understanding how diverse cultures communicate is paramount for effective business interactions and the nurturing of robust relationships (Nurul Purniasari, 2023). The hierarchical structure of a business and the exercise of authority are profoundly shaped by cultural norms (Sari et al., 2023). While some cultures favor a more hierarchical and top-down approach, others lean towards a flatter, more collaborative organizational structure (Taufiqurrahman, 2023). Values concerning negotiation methods can diverge significantly (Noverianto & Munahefi, 2023). Some cultures prioritize win-win approaches, emphasizing collaboration, while others may embrace competitive negotiation values (Handayani et al., 2023). Recognizing these nuances is pivotal for fruitful international business transactions (Cici Nugraheni Wirjosantosa, 2023). The perception of time and punctuality varies across cultures, affecting business values related to scheduling, meeting deadlines, and the importance placed on time (Pasiska et al., 2023). Relationship-building is integral to many cultures, shaping values that underscore trust and loyalty (Yopy Ratna Dewanti et al., 2023). In contrast, some cultures may prioritize more transactional, less relationship-centric business interactions (Mahmudah & Pamungkas, 2023). Risk aversion, innovation, and creativity values fluctuate as well, impacting business strategies, decision-making, and adaptation to change (Widodo et al., 2023). Furthermore, corporate social responsibility, diversity, inclusion, and sustainability values are all

intertwined with cultural norms, guiding a company's stance on these crucial aspects of business (Nurjatisari et al., 2023). Demonstrate An Appreciation For The Economic And Business Implications Of Cultural Change As cultural shifts occur, consumer behaviors can change significantly (Selfana et al., 2023). As culture evolves, consumer preferences and actions evolve as well (Muslimah, 2023). Therefore, for businesses, it's crucial to understand these changes because they need to adapt their products, services, and marketing strategies to remain relevant to the ever-evolving consumer expectations (N. I. Lestari et al., 2022). The inability to adapt to these changes can result in a decrease in market relevance and attractiveness (Bayyinaturrosyi et al., 2023). Furthermore, cultural changes also bring new market opportunities (et al Sari, 2023). With the emergence of new trends and shifts in cultural values, new opportunities open up for innovative products and services (Jantin et al., 2022). Businesses that can quickly identify and capitalize on these opportunities have the potential to gain a competitive advantage (Jantin et al., 2022). When societies face cultural changes, they also seek new solutions to emerging challenges or shifting preferences, This can drive the development of innovative products and technologies, creating opportunities for businesses to develop and market these products and innovations (Ayu et al., 2022). Effective communication stands as a pivotal aspect of the business world, yet communication styles diverge among cultures (Prawita & Mifti Jayanti, 2023). Cultural norms dictate the degree of directness, formality, and the significance attributed to non-verbal cues (Amelia et al., 2023). Grasping and adapting to these variations is critical for successful cross-cultural business interactions and for forging robust working relationships (Setiawan & Rochim, 2023). Cultural values extend to the domain of management and leadership within organizations (Puspita & Putra, 2023). Hierarchical structures, decision-making procedures, and the distribution of authority can exhibit significant variation across cultures (Nasution et al., 2023). For global businesses, navigating these divergences in management practices is paramount, respecting the cultural values associated with authority and leadership (Sudirjo, 2023). Negotiation styles equally reflect cultural values (Pourgharib & Asl, 2022). Approaches to negotiation can range from cooperative and focused on mutually beneficial outcomes in some

cultures to competitive and oriented toward individual gain in others (Kholifaturrohmah et al., 2022). Identifying and accommodating these subtleties is key for successful international business transactions and negotiations(Lestari et al., 2022). The concept of time and punctuality exhibits variation across cultures, influencing values tied to scheduling, adhering to deadlines, and the importance assigned to time management in business (Kai, 2023). Business relationships, too, are profoundly shaped by culture, with certain societies placing a strong emphasis on building trust and long-term partnerships, while others lean more toward transactional, less relationship-oriented interactions (Faisal et al., 2023). Ethical values, for instance, are deeply intertwined with cultural norms, and what may be considered ethical in one culture could be viewed as ethically questionable in another (Kusumaningsih et al., 2023). Similarly, work ethics, communication styles, and organizational hierarchies are significantly shaped by cultural norms (Widiatmaka et al., 2023). Values related to punctuality, relationship-building, and approaches to negotiation and risk-taking also vary across cultures (Kusumaningsih et al., 2023). Furthermore, the significance placed on time and values concerning innovation, sustainability, and corporate social responsibility fluctuate in accordance with cultural norms(Faisal et al., 2023). In conclusion, differences in social culture exert a profound impact on the values that guide business practices (Kusumaningsih et al., 2023). Acknowledging and respecting these cultural values are essential for fostering successful cross-cultural business interactions and building strong international business relationships (Ponomareva et al., 2022). Companies that possess a deep understanding of and adapt to these cultural values are better prepared to navigate the global business landscape and thrive within diverse cultural contexts (Ayu et al., 2022). In the realm of business and technology, countries that promote a proactive attitude towards risk tend to produce more innovative products and services (Augusta et al., 2022). They often succeed in creating an environment that supports technological advancements, as well as in fostering startup companies and breakthrough innovations (Augusta et al., 2022). Furthermore, culture also plays a significant role in the ability to adapt to change (Sudirjo, 2023). A culture that encourages rapid adaptation and flexibility tends to provide a strong impetus for innovation (Sudirjo, 2023). In cultures like these, individuals and organizations are often open to change and not bound by tradition or existing methods. They are more inclined to seek new solutions and more efficient ways to accomplish tasks (Yang et al., 2023).

CONCLUSION The conclusion from these sentences is that culture and innovation play a central role in a country's economic development. Cultural factors, such as social norms, values, and inherited thought patterns, influence a community's ability to foster innovation. Cultures that encourage quick adaptation, measured risk-taking, and collaboration tend to support innovation, while conservative and risk-averse cultures may hinder it. Additionally, culture creates an environment that fosters the exchange of ideas, which in turn sparks innovation. In summary, cultural differences have a significant impact on innovation, affecting economic growth and technological advancement. In the context of business and technology, countries that embrace a culture that promotes risk-taking and rapid adaptation to change often produce more innovative products and services. They establish an environment conducive to technological advancement and provide support to startups focused on new discoveries. This culture encourages individuals and organizations to explore new ideas without being bound by tradition or existing methods, making them more inclined to seek new solutions and more efficient ways of completing tasks. Therefore, culture plays a crucial role in shaping a country's business and technology landscape, which can directly influence competitiveness and innovation in the global market.In brief, culture within society encompasses a wide range of elements such as norms, values, practices, and traditions that have a profound influence on daily life. Within this cultural framework, we find various components like beliefs, customs, traditions, norms, language, art, social institutions, material culture, culinary traditions, belief systems, and social hierarchies. Culture is not static; it evolves over time in response to historical events, technological progress, and interactions with other cultures. It is crucial to grasp a society's culture to understand its values, traditions, and social dynamics. Cultural differences arise due to factors like history, geography, religion, language, economic systems, government structures, technological advancements, and more. These differences affect innovation, risk-taking, and entrepreneurship, shaping business approaches, decision-making processes, and adaptability to change. Social cultural variances have an impact on various aspects of the business world, including consumer behavior, market entry strategies, marketing and advertising, management and leadership styles, supply chain efficiency, and others. Understanding and adapting to these differences are essential for effective global business operations.

Cultural values also have a significant role in shaping business values associated with ethics, work ethics, communication styles, hierarchical structures, negotiation methods, views on time and punctuality, relationship-building, and values concerning innovation, sustainability, and corporate social responsibility. In a dynamic cultural context, businesses must adjust to shifts in consumer behavior, recognize fresh market opportunities, and communicate adeptly in cross-cultural settings. This adaptability is critical for staying relevant in the market and achieving global success. All in all, recognizing and respecting cultural values are fundamental for prospering in diverse cultural environments and forming robust international business relationships.

REFERENCES Abdul Rohman Alasyari, Muhammad Ajid, Oka Nur Irpan, Syahrudin Alkhowas, & Sofrotun. (2023). Pengaruh Budaya Organisasi terhadap Kepuasaan Kerja Pegawai. Jurnal Syntax Admiration, 4(1). https://doi.org/10.46799/jsa.v4i1.527 Al Qusaeri, M. A., Sunarni, Khasanah, M., Khasbulloh, M. W., & Mesra, R. (2023). Pengaruh Budaya Organisasi Terhadap Inovasi Pada Perusahaan Teknologi: Studi Deskriptif Pada Startup XYZ Di Kota Bandung. Sanskara Manajemen Dan Bisnis, 1(03). https://doi.org/10.58812/smb.v1i03.220 Amelia, L., Lukmawati, L., Siraj, M. S., & ... (2023). Penerapan Budaya Organisasi Di Sekolah Dalam Menciptakan Sumber Daya Manusia (SDM) Yang Unggul. Ta’rim: Jurnal …. Andin, C., & M.Z, R. (2023). Pengajaran KBAT Merentas Kurikulum: Cabaran Guru dalam Pelaksanaan. Jurnal Pemikir Pendidikan, 11(1). https://doi.org/10.51200/jpp.v11i1.4280 Armiyanti, A., Sutrisna, T., Yulianti, L., Lova, N. R., & Komara, E. (2023). Kepemimpinan Transformasional Dalam Meningkatkan Kinerja Layanan Pendidikan. Jurnal Educatio FKIP UNMA, 9(2). https://doi.org/10.31949/educatio.v9i2.5104 Aswar, A. (2023). MAKNA FILOSOFI HIERARKI PADA SINERGITAS BUSANA, ORNAMEN, DAN TAU-TAU DALAM UPACARA RAMBU SOLO DI TORAJA. Panggung, 33(3). https://doi.org/10.26742/panggung.v33i3.2738 Augusta, M. O., Oktaviandi Syeira, C. P., & Hadiapurwa, A. (2022). PENGGUNAAN TEKNOLOGI BLOCKCHAIN DALAM BIDANG PENDIDIKAN. Produktif : Jurnal Ilmiah Pendidikan Teknologi Informasi, 5(2). https://doi.org/10.35568/produktif.v5i2.1259 Ayu, I. W., Zulkarnaen, Z., & Fitriyanto, S. (2022). BUDAYA DIGITAL DALAM TRANSFORMASI DIGITAL MENGHADAPI ERA SOCIETY 5.0. Jurnal Pengembangan Masyarakat Lokal, 5(1). https://doi.org/10.58406/jpml.v5i1.922 Bayyinaturrosyi, Q., Priyambodo, T. K., & Sudarmadji, S. (2023). Tingkat Daya Tarik Pasar dan Daya Tahan Aset Budaya sebagai Pesona Pariwisata di Lombok Timur. Indonesian Journal of Tourism and Leisure, 4(1). https://doi.org/10.36256/ijtl.v4i1.297 Buchanuddin, A., Anas, A., Tompo, N., & Haris, Abd. (2023). Budaya Kerja Pada Kantor Kementerian Agama Kabupaten Sinjai. YUME : Journal of Management, 6(1). https://doi.org/10.37531/yum.v6i1.3538

Budiman, C., & Budiman, C. (2021). Penelitian Feminis dalam Kajian Budaya:Titik-Temu dan Kontribusi. Jurnal Kawistara, 11(1). https://doi.org/10.22146/kawistara.62913 Budiono, L. A., & Masing, M. (2022). Emosi Dalam Perspektif Lintas Budaya. Innovative: Journal Of Social Science Research, 2(1). https://doi.org/10.31004/innovative.v2i1.4077 Bustomi, F. K., & Katiah, K. (2023). Dongeng Roro Jonggrang sebagai Sumber Ide Motif pada Busana Pesta dengan Teknik Hand Painting. Ars: Jurnal Seni Rupa Dan Desain, 25(3). https://doi.org/10.24821/ars.v25i3.5421 Cici Nugraheni Wirjosantosa. (2023). Pendampingan Gelar Karya dan Pentas Seni sebagai Wujud Pengaplikasian Projek Penguatan Profil Pelajar Pancasila (P5) pada Kurikulum Merdeka (SD Negeri 4 Karanganyar). JURPIKAT (Jurnal Pengabdian Kepada Masyarakat), 4(2). https://doi.org/10.37339/jurpikat.v4i2.1364 Costa, M. D., & Habib, A. (2023). Local creative culture and audit fees. British Accounting Review, 55(2). https://doi.org/10.1016/j.bar.2022.101151 Daraba, D., Salam, R., Wijaya, I. D., Baharuddin, A., Sunarsi, D., & Bustamin, B. (2023). MEMBANGUN PELAYANAN PUBLIK YANG INOVATIF DAN EFISIEN DI ERA DIGITAL DI INDONESIA. Jurnal Pallangga Praja (JPP), 5(1). https://doi.org/10.61076/jpp.v5i1.3428 Dolphina, E., Ahmad Muktamar B, Kalsum, E. U., Malihah, L., & Iswanto. (2023). Analisis Bibliometrik Kepemimpinan Inklusif dan Diversitas: Menilai Dampaknya pada Efektivitas Organisasi dan Inovasi. Jurnal Bisnis Dan Manajemen West Science, 2(03). https://doi.org/10.58812/jbmws.v2i03.577 El Fadil, J., & St-Pierre, J. (2023). Identifying and Managing Risks Inherent to Cultural Differences in the Case of Production Internationalization. Business & Entrepreneurship Journal. https://doi.org/10.47260/bej/1221 Essayahi, M. L. B., & Aloune, A. B. (2022). Approach to the translation of taboo and offensive language into Arabic. Study and analysis of the series La Casa de Papel. Hikma, 21(1). https://doi.org/10.21071/HIKMA.V21I1.13155 Faisal, F., Mahmudah, M., & Aprilia, R. (2023). DAMPAK KOLONIALISME PEMBENTUKAN IDENTITAS BUDAYA INDONESIA DALAM NOVEL NJAI KEDASIH: POSKOLONIAL HOMI BHABHA. Titik Dua: Jurnal Pembelajaran Bahasa Dan Sastra Indonesia, 2(2). https://doi.org/10.59562/titikdua.v2i2.24068 Fidorova, Y., Ningsih, U. Y., Oktami, R., & Agustina, D. (2023). Penerapan Budaya Organisasi Dalam Meningkatkan Pelayanan Kesehatan Di Puskesmas Tanjung Langkat. Jurnal Kesehatan Tambusai, 4(2).

Ha, J. H., Lee, C., & Yoo, J. (2023). Cultural Differences in Advance Care Planning and Implications for Practice. Omega (United States), 87(3). https://doi.org/10.1177/00302228211029502 Handayani, F., Witri, G., & Syahrilfuddin, S. (2023). PENGEMBANGAN MEDIA PEMBELAJARAN KOMADI (KOMIK MATEMATIKA DIGITAL) BERBASIS ETNOMATEMATIKA PADA MATERI GEOMETRI DI SEKOLAH DASAR. AKSIOMA: Jurnal Program Studi Pendidikan Matematika, 12(1). https://doi.org/10.24127/ajpm.v12i1.6504 Hariandi, M. S. I. (2022). ANALISIS HUBUNGAN PERAN PEMIMPIN, BUDAYA ORGANISASI, DAN INOVASI PADA IKM BANYUWANGI. JURNAL PENDIDIKAN EKONOMI: Jurnal Ilmiah …. Hsu, P. F., & (Kellan) Nguyen, T. (2023). Examining the cultural differences in disseminating green supply chain in global subsidiaries. Journal of Business Research, 164. https://doi.org/10.1016/j.jbusres.2023.113982 Hu, H., & Qi, M. (2022). New Evidence on National Culture and Corporate Financing: Does Institutional Quality Matter? Sustainability (Switzerland), 14(19). https://doi.org/10.3390/su141912689 Indra Sabella, R. (2023). Peran Kesiapan Individu untuk Berubah pada Pengaruh Perubahan Budaya Organisasi dan Motivasi Kerja Terhadap Kinerja Guru Yayasan Buana Wedoro Waru Sidoarjo. COMSERVA Indonesian Jurnal of Community Services and Development, 2(09). https://doi.org/10.59141/comserva.v2i09.563 Ismanto, H., & Pebruary, S. (2023). The Role of Manager Behavior in Explaining The Financial Planning And Financial Innovation of Small and Medium Enterprises. Indonesian Journal of Business and Entrepreneurship. https://doi.org/10.17358/ijbe.9.1.36 Izza, L. S. (2023). PEMBENTUKAN DAN PENCARIAN IDENTITAS BUDAYA INDONESIA. Krinok: Jurnal Pendidikan Sejarah Dan Sejarah, 2(1). https://doi.org/10.22437/krinok.v2i1.24465 Jainuddin, J., Putra, I. N. N. A., & Heriani, H. (2023). Pengaruh Budaya Organisasi, Motivasi dan Inovasi terhadap Kinerja Guru Sekolah Menengah Kejuruan. Inovasi, 10(1). https://doi.org/10.32493/inovasi.v10i1.p145-155.30408 Jantin, N. W., Priyanti, N. M. M., & Juniari, N. K. D. (2022). Upaya Melestarikan Budaya Globalisasi Generasi Z Tradisional Dalam Transisi Di Era Society 5.0. Prosiding Webinar Nasional Pekan Ilmiah Pelajar (PILAR).

Kai, W. (2023). Social and cultural capital and learners’ cognitive ability: issues and prospects for educational relevance, access and equity towards digital communication in China. Current Psychology, 42(18). https://doi.org/10.1007/s12144-021-02517-6 Kholifaturrohmah, R., Floresti, D. A., Mayasari, V., & Rosiana, M. (2022). Kontribusi Human Capital Terhadap Pertumbuhan Ekonomi Melalui Pendidikan. Jurnal Ekonomi, Bisnis Dan Akuntansi (JEBA), 24(4). Kusumaningsih, F. S., Rustina, Y., Nurhaeni, N., & Murni, S. (2023a). Breastfeeding culture in Balinese society: A qualitative study. Enfermeria Clinica, 33. https://doi.org/10.1016/j.enfcli.2023.01.004 Kusumaningsih, F. S., Rustina, Y., Nurhaeni, N., & Murni, S. (2023b). Breastfeeding culture in Balinese society: A qualitative study. Enfermeria Clinica, 33, S22–S26. https://doi.org/10.1016/j.enfcli.2023.01.004 Lestari, A., & Frinaldi, A. (2023). PENERAPAN ROLEPLAY LAYANAN SEBAGAI INOVASI DAN BUDAYA UNTUK PENINGKATAN KUALITAS LAYANAN PADA PT. BANK RAKYAT INDONESIA KANTOR UNIT SIMPANG TIGA. Menara Ilmu, 17(2). https://doi.org/10.31869/mi.v17i2.4587 Lestari, N. I., Ramadani, M., & Sutikno, S. (2022). Peran E-Lifestyle, Budaya Digital, Dan EPayment Terhadap Perilaku Konsumtif Generasi Y Dalam Bertransaksi di E- Commerce. Ekombis Sains: Jurnal Ekonomi, Keuangan Dan Bisnis, 7(2). https://doi.org/10.24967/ekombis.v7i2.1844 Mahmudah, S., & Pamungkas, J. (2023). Ketrampilan Seni Musik Anak Usia Dini melalui Ekstrakurikuler Angklung. Jurnal Obsesi : Jurnal Pendidikan Anak Usia Dini, 7(3). https://doi.org/10.31004/obsesi.v7i3.3746 Melisa Alvionita, Bing Bedjo Tanudjaja, & Mendy Hosana Malkisedek. (2023). Perancangan Art Book Desain Karakter untuk Melestarikan Pakaian dan Kesenian Tradisional Jawa. Journal of Computer Science and Visual Communication Design, 8(1). https://doi.org/10.55732/jikdiskomvis.v8i1.842 Mohd. Yusuf D.M., Asep Haris, Faizal Indra, Heri Yanto, & Sugiharto. (2022). PERANAN BUDAYA DAN KEBUDAYAAN DI INDONESIA DARI ASPEK SOSIOLOGI HUKUM. The Juris, 6(1). https://doi.org/10.56301/juris.v6i1.647 Monazam Tabrizi, N., & Masri, F. (2021). Towards safer healthcare: Qualitative insights from a process view of organisational learning from failure. BMJ Open, 11(8). https://doi.org/10.1136/bmjopen-2020-048036

Muslimah, T. (2023). Strategi Komunikasi Lintas Budaya Konsultan Public Relations Perusahaan Minyak Dan Gas Bumi Dalam Menghadapi Perbedaan Budaya Pada Pelaksanaan Program Corporate Social Responsibility. Jurnal Politikom Indonesiana, 8(1). https://doi.org/10.35706/jpi.v8i1.9520 Nasution, F., Azzahra, A. R., & ... (2023). Diversitas Sosiokultural: Penjelasan, Faktor, dan Manfaatnya dalam Masyarakat. Khatulistiwa: Jurnal …. Novan Ramadhan, D., Dwi Hermawan, H., Dwi Septiyanti, N., & Penulis Dika Novan Ramadhan, K. (2023). Implementasi dan Pengembangan Media Pembelajaran Game Calistung untuk Meningkatkan Literasi dan Numerasi di SD N 04 Kemuning. Implementasi Dan Pengembangan Media Pembelajaran Game Calistung Untuk Meningkatkan…, 3. Noverianto, B., & Munahefi, D. N. (2023). Analisis Kemampuan Berpikir Kreatif Matematis Ditinjau dari Motivasi Belajar Siswa pada Scientific Problem Based Learning Berbantuan Javanese Culture Augmented Reality. JNPM (Jurnal Nasional Pendidikan Matematika), 7(1). https://doi.org/10.33603/jnpm.v7i1.7706 Nurjatisari, T., Sukmayadi, Y., & Nugraheni, T. (2023). Penguatan Profil Pelajar Pancasila melalui Kemasan Pertunjukan Seni pada Kurikulum Merdeka di Sekolah Dasar. Jurnal Obsesi : Jurnal Pendidikan Anak Usia Dini, 7(4). https://doi.org/10.31004/obsesi.v7i4.4836 Nurul Purniasari. (2023). PENGARUH BUDAYA ORGANISASI, MOTIVASI DAN KEPEMIMPINAN KEPALA SEKOLAH TERHADAP KINERJA GURU SD SE KECAMATAN BATANG. Didaktik : Jurnal Ilmiah PGSD STKIP Subang, 9(2). https://doi.org/10.36989/didaktik.v9i2.764 Pasiska, P., Ratono, I., Kurniati, A., Aly, H. N. A. N., Iqbal, M., & Adisel, A. (2023). Interdisipliner Pendidikan Islam Dan Realitas Keilmuan Indonesia. El-Ghiroh, 21(1). https://doi.org/10.37092/el-ghiroh.v21i1.499 Ponomareva, Y., Uman, T., Bodolica, V., & Wennberg, K. (2022). Cultural diversity in top management teams: Review and agenda for future research. In Journal of World Business (Vol. 57, Issue 4). https://doi.org/10.1016/j.jwb.2022.101328 Pourgharib, B., & Asl, M. P. (2022). Cultural Translation, Hybrid Identity, and Third Space in Jhumpa Lahiri’s Interpreter of Maladies. Pertanika Journal of Social Sciences and Humanities, 30(4). https://doi.org/10.47836/pjssh.30.4.10

Pradnyani, N. G. P. A. (2023). Gerakan Ramah Anak dalam Pendidikan Agama Kristen Di tengah Budaya Suku Bali yang Patriarki. Didache: Journal of Christian Education, 4(1). https://doi.org/10.46445/djce.v4i1.671 Prajogo, B., & Tahang, Moh. (2023). Pengaruh Kepemimpinan Transformasional, Budaya Organisasi, dan Inovasi terhadap Kinerja Keuangan Perusahaan. JUDICIOUS, 4(1). https://doi.org/10.37010/jdc.v4i1.1248 Prawita, E., & Mifti Jayanti, A. (2023). Penguatan Ketahanan Keluarga melalui Komunikasi Efektif di Desa Guwosari Bantul. Jurnal Pengabdian Masyarakat, 4(1). https://doi.org/10.32815/jpm.v4i1.1111 Purnomo, E., Annisa, F., Syafitri, N., Lutfi, M., & ... (2023). Peran Penting Komunikasi Bisnis Antarbudaya Dalam Era Globalisasi. Jurnal Ilmiah Wahana …. Puspita, N. D., & Putra, I. G. S. (2023). Pengaruh Kepemimpinan dan Budaya Organisasi terhadap Kinerja Karyawan. JIIP - Jurnal Ilmiah Ilmu Pendidikan, 6(5). https://doi.org/10.54371/jiip.v6i5.1970 Rachmad, T. H., & Sasongko, Y. P. D. (2023). Kearifan Lokal dan Tourist Sebagai Komunikasi Kolaboratif Pariwisata Berkelanjutan di Banyuwangi. Archive: Jurnal Pengabdian Kepada Masyarakat, 2(2). https://doi.org/10.55506/arch.v2i2.60 Rogito, J. M., & Nyamota, G. (2022). Cross-cultural differences in leadership and management of agricultural projects in Africa. Journal of Innovations and Sustainability, 6(2). https://doi.org/10.51599/is.2022.06.02.01 Sari, N. K. M. et al. (2023). Analisis Perilaku Konsumen. Jurnal Manajemen Bisnis, I(3). Sari, I. P., Kartina, A. H., Permana, F. C., & Firmansyah, F. H. (2023). Perancangan Karakter Animasi 2 Dimensi “Edia” pada E-Module Mata Pelajaran Seni Budaya di SMP. ANDHARUPA: Jurnal Desain Komunikasi Visual & Multimedia, 8(3). https://doi.org/10.33633/andharupa.v8i3.5355 Satria Efandi, Rahman, A., Wahyuni, R. W., & Haq, R. A. N. (2023). Pengaruh Budaya Organisasi dan Psychological Capital terhadap Perilaku Kerja Inovatif Industri Kreatif. Psyche 165 Journal. https://doi.org/10.35134/jpsy165.v16i3.242 Selfana, K. N. D., Hartono, H., & Gusanti, Y. (2023). Dampak Pergeseran Budaya Masyarakat Banyuwangi terhadap Pola Permainan Angklung Caruk Grup Aliyan Bolot. JoLLA: Journal of Language, Literature, and Arts, 3(1). https://doi.org/10.17977/um064v3i12023p88-99

Setiawan, H. A., & Rochim, M. (2023). Adaptasi Budaya Muslim di Perguruan Tinggi Berbasis Keagamaan. Bandung Conference Series: Communication Management, 3(2). https://doi.org/10.29313/bcscm.v3i2.7697 Sihombing, Y. (2023). Inovasi Kelembagaan Pertanian dalam Mewujudkan Ketahanan Pangan. Proceedings Series on Physical & Formal Sciences, 5. https://doi.org/10.30595/pspfs.v5i.707 Sudirjo, F. (2023). Faktor-Faktor yang Mempengaruhi Perilaku Pembelian Konsumen secara Lintas Budaya. Jurnal Ekonomi Dan Kewirausahaan West Science, 1(03). https://doi.org/10.58812/jekws.v1i03.526 Sulviana, S., Raehana, S., & Syahrul, M. (2023). Implementasi Nilai-Nilai Budaya Siri’ dalam Pembelajaran Pendidikan Agama Islam. Mujaddid: Jurnal Penelitian Dan Pengkajian Islam, 1(1). https://doi.org/10.33096/mujaddid.v1i1.225 Suriadi, H., & Frinaldi, A. (2023). INOVASI DALAM MENINGKAT KINERJA ORGANISASI SEKTOR PUBLIK. Menara Ilmu, 17(2). https://doi.org/10.31869/mi.v17i2.4276 Taufiqurrahman, M. (2023). Pembelajaran Abad 21 Berbasis Kompetensi 4C di Perguruan Tinggi. PROGRESSA: Journal of Islamic Religious Instruction, 7(1). https://doi.org/10.32616/pgr.v7.1.441.78-90 Widayani, E. (2023). Durasi (Duta Literasi) Upaya Tingkatkan Budaya Literasi. Journal of Civics and Moral Studies, 7(2). https://doi.org/10.26740/jcms.v7n2.p83-90 Widiatmaka, P., Wibowo, A., & Purwoko, A. A. (2023). Strategy of civic education teachers in building student social character to maintain local culture in the society 5.0 era. Jurnal Pendidikan PKN (Pancasila Dan Kewarganegaraan), 4(1), 63. https://doi.org/10.26418/jppkn.v4i1.53961 Widodo, T., Ishak, S. I., Haryato, T., & Santoso, A. B. (2023). Explorasi Pola Batik Baru dengan Deep Convolutional Algorithme Generative Adversarial Networks (DCGANs). Informatika Mulawarman : Jurnal Ilmiah Ilmu Komputer, 18(1). https://doi.org/10.30872/jim.v18i1.9531 Wijayanto, G., Yuniarti, R., Suwandana, I. M. A., Desembrianita, E., & Kurniawan, R. (2023). MEMBANGUN BUDAYA INOVASI DALAM UMKM: PELATIHAN DAN PENDAMPINGAN UNTUK MENINGKATKAN KREATIVITAS DAN RESPONSIVITAS TERHADAP PELANGGAN. Eastasouth Journal of Impactive Community Services, 1(03). https://doi.org/10.58812/ejimcs.v1i03.131

Wu, Z., Ma, J., & Zhang, H. (2023). Spatial Reconstruction and Cultural Practice of Linear Cultural Heritage: A Case Study of Meiguan Historical Trail, Guangdong, China. Buildings, 13(1). https://doi.org/10.3390/buildings13010105 Yang, F., He, Y., & Xia, Z. (2023). The effect of perceived discrimination on cross-cultural adaptation of international students: moderating roles of autonomous orientation and integration strategy. Current Psychology, 42(23). https://doi.org/10.1007/s12144-022- 03106-x Yopy Ratna Dewanti, Dingot Hamonangan Sitanggang, Kania Farida, Arifin Setiabudi, M. Ferdinansyah, & Ahmad Fadli. (2023). Motivasi Remaja Unggulan Di Era Revolusi Industri 4.0 dan Society 5.0 (Bersama SMA Tunas Markatin). Abdimas Awang Long, 6(1). https://doi.org/10.56301/awal.v6i1.660 Yudistia, T. T. (2023). USER INTERFACE WEBSITE KULINER KHAS KOTA MADIUN MENGGUNAKAN DESIGN THINKING UNTUK PROMOSI UMKM LOKAL. Jurnal Nawala Visual, 5(1). https://doi.org/10.35886/nawalavisual.v5i1.579 Yuliyus, & Susilawati, N. (2021). Culture & Society: Journal of Anthropological Research. Culture & Society : Journal of Anthropological Research, 2(3).

THE ROLE OF ETHICS AND CORPORATE SOCIAL RESPONSIBILITY IN ACHIEVING SUSTAINABILITY GOALS Lecturer: Eko Handayanto, Dr., M.M. Compiled By : 1. Rindi Wahyu Wardhani (202110160311438) 2. Nizar Revi Amelia Sandy (202110160311462) 3. Rizka Adelia Anggraeni (202110160311482) STUDY PROGRAM MANAGEMENT FACULTY OF ECONOMIC AND BUSINESS UNIVERSITY OF MUHAMMADIYAH MALANG 2023

INTRODUCTION Currently, business activities have become commonplace in everyday life, from the smallest to the largest scale (Aviatri et al., 2021). In business, of course business ethics are always needed. In an era of ever-growing globalization, Corporate Social Responsibility (CSR) programs increasingly encourage companies to consistently consider their reputation as an indicator of overall performance in the eyes of their consumers. This underscores the view that a company's reputation is the only method that can be used to assess the character and integrity of that company (Yustien & Mirdah, 2020). Sustainable development is a development initiative that covers various dimensions, including economic, social, environmental and cultural aspects, with the aim of meeting current needs without sacrificing or reducing the needs of future generations. (Ananta et al., 2020). Driven by the understanding that achieving or maintaining previously relevant sustainable development is only possible when there is a balance between economic, social and environmental aspects, this has given rise to a new awareness among the business community in Indonesia to adopt Social and Environmental Responsibility (Hidayat et al., 2020). Today's corporate business ethics are aimed at fulfilling responsibilities towards various parties with interests (stakeholders) whose reach goes beyond economic and legal obligations. It reflects the company's commitment to shareholders and other stakeholders, in addition to economic and legal aspects, with the aim of meeting broader demands and obligations (Hanum & Fazrah, 2023). A reputable company should embrace ethical business practices to safeguard the welfare of all parties involved, encompassing employees, customers, investors, communities, and the environment (Hasoloan, 2018) in (Suprapto & Alvina, 2023). Awareness of corporate ethics enables organizations to make sustainable decisions, create a healthy corporate culture, and build strong relationships with their stakeholders. Corporate sustainability is a business approach that moves dynamically by adopting sustainability principles necessary to include stakeholders and achieve shareholder goals. (Aksoy et al., 2020). One form of company program is CSR. Corporate Social Responsibility (CSR) is a concept and practice that a company adopts as a means of fulfilling its responsibility to the community and the environment within the company's operational sphere. This includes implementing various activities aimed at improving the welfare of the local community, building public facilities, providing scholarships to children in need, as well as providing financial donations to improve the welfare of the community in general, especially those

around the company's location (Pratiwi1 et al., 2021). Activities from these CSR programs can influence the company's image, which in turn, supports improving the company's financial performance and marketing strategy. As a result, this increase in performance contributes positively to business continuity (Sari et al., 2023). Company involvement in social responsibility is very important in efforts to build a positive image of the company, this also has the capacity to create a beneficial impact to the sustainability and development of the company (Siti Nur Hazizah, 2021). Apart from providing benefits to the community and environment around the company, implementing CSR through community empowerment also improves the public perception of the company's reputation., and brings the company towards better business sustainability in the future (Nabilla & Hamid, 2021). Therefore, this article will explain how the role of ethics and corporate social responsibility is key to achieving broad sustainability goals, including economic, environmental and social sustainability. Here we will discuss various aspects of this concept, including Ethics and International Business, Ethical Dilemmas, Roots of Unethical Behavior, Philosophical Approaches to Ethics, and Managerial Implications. LITERATURE RIVIEW OF DISCUSSION Comprehend The Ethical, Corporate Social Responsibility, And Sustainability Challenges Encountered By Global Business Enterprises. Ethics originates from the Greek word 'ethos,' which signifies habitual conduct, eventually becoming an integral part of philosophy. Ethics can be described as a set of guidelines for moral behavior, aligned with moral values (Name et al., 2023). In conversations about ethics and its importance in the business world, the focus is on applying moral and ethical principles as the essential foundation of any business organization. In the course of conducting business operations, every enterprise adheres to a code of behavior that encompasses both financial and societal aspects. Typically, the determination of what is right or wrong, or what might be considered morally acceptable, is contingent upon an individual's or group's established priorities and predefined values. Furthermore, this framework is accompanied by specific responsibilities linked to the broader society (Bhushan, 2021). The moral responsibility of every company should be a top priority, as implementing an ethical code often leads to improved financial performance. Engaging in ethical practices

entails working in a morally sound direction, making choices aligned with the right path, and discerning what is morally acceptable and unacceptable in the realm of business. It necessitates refraining from the unlawful use of copyrighted materials and processes, as well as avoiding involvement in acts of bribery. Business ethics exhibits several key characteristics, including: a) Code of behavior: Business ethics acts as a guiding code of behavior, delineating which actions are considered acceptable or unacceptable for the improvement of society as a whole. It represents a set of standards that anyone aspiring to engage in business should follow. b) Based on moral and societal principles: In essence, business ethics is grounded in fundamental principles and moral values that pertain to business conduct in general. The concept of Corporate Social Responsibility (CSR) is frequently a significant concern within Indonesian businesses. In Indonesia corporate social responsibility is required by law (Fatima & Elbanna, 2023). Corporate Social Responsibility involves a company's obligation to maintain a harmonious and equitable connection with the local community, encompassing its environment, values, customs, and culture. CSR, in addition to ensuring the environment's well-being and reducing the hazards associated with industrial production, should also demonstrate its commitment to environmental sustainability (Shayan et al., 2022).. Corporate social responsibility can also encompass business conduct tied to ethical standards within the business sphere. Consequently, companies have an obligation to uphold the social well-being associated with their business. In practice, companies should be driven to engage in more corporate social responsibility initiatives beyond mere regulatory requirements. There is a notable connection between Corporate Social Responsibility (CSR) in a company and the strategies inherent in its operational approach. CSR and a company's performance are widely regarded as paramount factors in wealth generation and enhancing overall corporate performance. When implementing Corporate Social Responsibility, it's imperative for all stakeholders within the company to look beyond short-term objectives. Corporate social responsibility might not deliver an immediate influence on financial results. In this context, it is crucial for the company's owners and top management to acknowledge that employees play a critical role in achieving the success of Corporate Social Responsibility. This is because the company invests its resources in CSR, and the organization reaps significant benefits from implementing Corporate Social Responsibility initiatives. In the contemporary business landscape, there is a growing consciousness of environmental concerns. Decision-makers are confronted with external influences, such as a

heightened public demand for eco-friendly products and shareholder expectations to protect the environment. In addition to the external impetus for greater sustainability, businesses are encountering intensified competition due to the effects of globalization and technological advancements (Dhyanasaridewi & Augustine, 2021). Studies investigating the connection between sustainability innovation and company performance have been conducted previously, but the findings remain inconclusive. A substantial number of businesses perceive sustainability innovation as cost factors due to the substantial initial investments, extended payback periods, and relatively minor environmental benefits associated with their implementation (Möller & Herm, 2021). The global business landscape is increasingly concerned with the imperative of harmonizing profit generation and environmental and social responsibility, with sustainability emerging as a central preoccupation. This discussion aims to explore critical sustainability challenges in international business and underscore their significance. International enterprises often operate intricate supply chains and global networks, which can result in a substantial ecological impact. Activities related to these operations, such as carbon emissions, resource utilization, and waste production, can contribute to climate change and environmental deterioration. Prioritizing sustainable sourcing is essential, requiring companies to ensure that their supply chains adhere to ethical and environmentally conscious standards. Resolving issues like child labor, equitable wages, and responsible resource extraction is of utmost importance (Santarem & Begnis, 2021). Global companies are anticipated to adhere to ethical obligations encompassing equitable labor practices, community involvement, and fostering diversity and inclusivity among their workforce. Overlooking these facets may result in harm to their reputation (WHO, 2021). Traversing a intricate network of international and domestic regulations poses a notable difficulty for global enterprises. Adhering to labor regulations, environmental guidelines, and ethical benchmarks is imperative (Gao, 2023). International corporations must dedicate resources to sustainable innovation, which includes developing environmentally friendly products, embracing renewable energy sources, and incorporating eco-friendly technologies. Transparency in revealing endeavors related to sustainability plays a vital role in establishing trust with stakeholders. Numerous multinational corporations release yearly sustainability reports to convey their dedication to sustainable initiatives (Yadav et al., 2021). Sustainability has shifted from being a secondary matter to a primary focus in international business. Tackling these sustainability challenges is vital not only for the protection of the planet and its inhabitants but also for upholding a positive brand reputation