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All Journal PENG: Jurnal Ekonomi dan Manajemen
A. Razak
Syiah Kuala University
Economics, Econometrics & Finance

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Business and Economic Dynamics from a Social Science Perspective: A Conceptual Review of Entrepreneurship, Economic Systems, and the Business Environment Sanusi Sanusi; A. Razak; Nurasiah Nurasiah; Mahda Sofiya
PENG: Jurnal Ekonomi dan Manajemen Vol. 2 No. 4 (2025): Oktober-Desember, Humanities, Economic and Social Issues
Publisher : Teewan Journal Solutions

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.62710/f3y0qm68

Abstract

Business and economic dynamics are crucial for understanding how a business can thrive and survive amidst environmental change. Rapid globalization, technological innovation, and shifts in consumer behavior have created new challenges and opportunities for entrepreneurs. This conceptual article aims to analyze the basic concepts of business, its functions, and the relationship between business, the economic system, and the business environment from an entrepreneurial perspective. This study employs a qualitative approach using literature review techniques, synthesizing various scientific literature sources on business and economic concepts. The findings reveal that the role of business extends beyond profit-making. Business also serves as a means of creating economic and social benefits, meeting societal needs, and adapting to changes in the dynamic economic environment. Furthermore, internal and external environmental factors significantly influence a business's sustainability and competitiveness. Effective management, innovation, and adaptability are crucial elements in facing increasingly dynamic business competition. Therefore, an understanding of business and economic dynamics is essential for entrepreneurs to formulate appropriate strategies to maintain business continuity and achieve long-term success.
Co-Authors Mahda Sofiya Nurasiah Nurasiah Sanusi Sanusi