CONSUMER PROTECTION POLICY IN MACAO’S FINANCIAL SERVICES SECTOR: ANALYSIS OF THE STRENGTHS AND WEAKNESSES IN COMPARISON TO GLOBAL PRACTICES

ABSTRACT

THIS STUDY INVESTIGATES THE KEY CHALLENGES AND SUCCESS FACTORS INFLUENCING COLLABORATIVE PARTNERSHIPS FOR SOCIAL INNOVATION IN CAMBODIA, AIMING TO DEVELOP AN EFFECTIVE PARTNERSHIP MODEL TAILORED TO THE LOCAL CONTEXT. EMPLOYING A MIXED-METHODS APPROACH, THE RESEARCH SYNTHESIZES FINDINGS FROM A SURVEY OF 109 ORGANIZATIONS ACROSS VARIOUS SECTORS—INCLUDING PRIVATE COMPANIES, GOVERNMENT AGENCIES, NGOS, AND ACADEMIC INSTITUTIONS—AND AN EXTENSIVE REVIEW OF RELEVANT LITERATURE. THE STUDY IDENTIFIES CRITICAL OBSTACLES SUCH AS TRUST DEFICITS, COMMUNICATION BREAKDOWNS, RESOURCE CONSTRAINTS, ORGANIZATIONAL MISALIGNMENTS, AND CULTURAL DIFFERENCES THAT IMPEDE EFFECTIVE COLLABORATION. CONVERSELY, IT HIGHLIGHTS ESSENTIAL SUCCESS ELEMENTS, INCLUDING OPEN COMMUNICATION, SHARED GOALS, MUTUAL TRUST, CLEAR ROLES, ONGOING ENGAGEMENT, AND CAPACITY BUILDING. THE FINDINGS SUGGEST THAT ADDRESSING SYSTEMIC BARRIERS WHILE FOSTERING TRUST AND SHARED UNDERSTANDING ARE VITAL FOR SUSTAINABLE SOCIAL INNOVATION IN CAMBODIA. BASED ON THESE INSIGHTS, THE RESEARCH PROPOSES A PRACTICAL COLLABORATIVE PARTNERSHIP MODEL EMPHASIZING TRANSPARENCY, JOINT PLANNING, FLEXIBILITY, AND STAKEHOLDER EMPOWERMENT. THE STUDY CONTRIBUTES VALUABLE THEORETICAL FRAMEWORKS AND ACTIONABLE STRATEGIES FOR PRACTITIONERS, POLICYMAKERS, AND SCHOLARS SEEKING TO ENHANCE SOCIAL INNOVATION THROUGH EFFECTIVE COLLABORATION IN CAMBODIA AND SIMILAR DEVELOPING CONTEXTS.