Business Sustainability in Tourism Industry of Community Entrepreneurs Leveraging Biodiversity-based Circular Economy Guidelines
Keywords:
Sustainability, Community Entrepreneurs, Biodiversity-based, Circular EconomyAbstract
This research aims to: study on business sustainability of bio-based community entrepreneurs under circular economy; test consistency of structural equation and empirical data and to study on structure of causal relationship of factors influencing on business sustainability in tourism industry of bio-based community entrepreneurs under circular economy; and to select strategy on business sustainability management of bio-based community entrepreneurs under circular economy. The research was conducted by using quantitative research in 2 procedures, i.e., Structural Equation Model (SEM). The sample group consisted of 420 community entrepreneurs in tourism industry. Research tools were questionnaire and application of Analytical Hierarchy Process (AHP). The informants consisted of 9 persons who were experts and academicians on tourism and environment.
The results revealed that developed model had consistency between structural equation and empirical data. From testing influence of causal variables and effects of causal model on business sustainability of community entrepreneurs utilizing bio-based economy under circular economy, it was found that transformational leadership of community leaders had total effect (TE) on business sustainability of community entrepreneurs in the highest level. When selecting strategies by using AHP, it was found that the important strategies could be ordered as follows: management under sustainable tourism standard of community, transformational leadership promotion, community leader changing , and circular economy management in community business.
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