ISSN: 2226-3624
Open access
The ultimate aim of well-being improvement is to enhance the living standards of individuals through various dimensions, including wealth, health, social and civic engagement, education, knowledge and skills, and work and job quality. Achieving these well-being goals requires the active participation of all stakeholders within the well-being ecosystem, including individuals, the government or public sector, industry, and academia. However, empirical research on socio-economic well-being has primarily focused on the domains of "government" or "public" factors (e.g., factors that affect well-being) and "individual" factors (e.g., individual commitment, knowledge, skills, motivation, and performance). As a result, there appears to be an empirical gap in the existing literature. Specifically, there is a lack of rigorous research examining the roles played by industry and academia in socio-economic well-being improvement. This gap is particularly significant and merits investigation in the context of Malaysia's Bottom 40 (B40) income group. To address this gap, this paper adopts the Quintuple Helix Model to develop an interdisciplinary and transdisciplinary well-being theoretical framework. This framework is designed to analyse the interrelationships among stakeholders and to explore the roles played by each stakeholder in well-being improvement. The proposed Quintuple Helix-based B40 Well-Being Framework expands the traditional view of well-being improvement by exploring the dynamic interrelationships among the government, public, industry, and academia within the natural environment of the B40 society. This approach is especially important and worthy of investigation in the Malaysian B40 context.
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