What is Institutional arenas?

Institutional arenas refer to the various social, political, and economic contexts where interactions among individuals and organizations take place, shaped by established norms, rules, and practices. These arenas include settings such as markets, governments, and communities, where different stakeholders engage in decision-making processes. They play a crucial role in shaping behaviors, influencing outcomes, and determining how resources are allocated within society. Understanding institutional arenas is essential for analyzing the dynamics of power and governance in a given context.