The Analysis of Survival Strategies in Small Medium Enterprises During Coronavirus Pandemic (original) (raw)

Small and Medium Enterprises Business Strategy in Pandemic COVID-19

Jurnal Iqtisaduna, 2020

The COVID-19 pandemic that has hit the world including Indonesia since early 2020 has had a significant impact on the Indonesian economy, especially in the Small and Medium Enterprises (SME’s) sector. This study aims to determine an efficient business strategy to survive the COVID-19 pandemic in Padangsidimpuan City. This study uses descriptive qualitative analysis techniques with semi-structured interview methods using purposive sampling in selecting sources and then analyzed with SWOT analysis and described in the form of a matrix so as to produce several alternative SME’s business strategies during the COVID-19 pandemic. The results showed that several sectors in Padangsidimpuan City felt the direct impact of the COVID-19 pandemic, such as the areas of public transportation and tourism which experienced a decline. Meanwhile, in the food sector it is still stable, but in services such as expeditions and delivery it has increased. The narrow space of movement between sellers and bu...

The Survival Strategies of Micro, Small and Medium Enterprises in The New Normal Era

2021

The Covid-19 Pandemic is a challenge in itself for MSME players to be able to maintain their business. The purpose of this study is to determine the potential problems and survival strategies of MSMEs during the Covid-19 pandemic era. The method used in this research is descriptive quantitative with this type of literature survey research. The data used in this study are secondary data published in the Ministry of KUKM, BPS, and various literature that can be used to answer research problems. The study results found that many MSMEs were forced to close their businesses due to decreased consumer demand for working from home. However, many MSMEs are trying to survive in their business by marketing their products through E-Commerce, digital marketing, improving product and service quality, pricing strategies, promotion strategies, and product diversification, and taking advantage of opportunities that exist in the pandemic era. Besides, there are many incentives that the government has...

BUSINESS STRATEGIES OF SMALL, AND MEDIUM ENTERPRISES (SMEs) TOWARDS POST-COVID-19 ADAPTATION: A CASE STUDY ON SMEs WEAVING CRAFTSMEN IN TANA TORAJA REGENCY

Journal of industrial engineering management, 2022

The covid-19 pandemic has affected downgrade of economics in the world especially in Indonesia. SMEs as one of the business sectors that most affected by the Covid-19 pandemic need to have the right business strategy in order to bounce back from adversity due to the COVID-19 pandemic. This study using a SWOT analysis to identify internal and external factors of SMEs Weaving in Tana Toraja Regency and uses a SWOT matrix to formulate the right business strategy. TOPSIS method is used to rank alternative business strategies. Based on the results of the SWOT matrix, there are four alternative business strategies for Toraja Weaving SMEs. The proposed alternative business strategy is made in a simulation to test the effect of the alternative business strategy. By using a dynamic system method with Powersim 10 software, the simulation results shows that if the weaving SMEs implement the four of business strategy such as making weaving product innovations, utilizing digital marketing to market woven products, utilizing a business license to obtain capital for the development of a weaving business, making a special weaving tourism village will increase the value sales profit by 131% in a year with a profit rate of Rp.728,606.753,-until the end of 2032..

Business Resilience during the Pandemic in Indonesia

International Journal of Economics, Business and Management Research

Micro Small Medium Enterprise (SME) is one of the main contributors to a nation's gross domestic product (GDP). However, with the currentCovid-19 pandemic, it has led to business closing and travel banning disrupting the SME business supply chain. Rahman (2020) highlighted that the SMEs are experiencing sales reduction, difficulty in financing the business and facing trouble in acquiring supply as well as distributing goods during the Covid-19 pandemic. The purpose of this study is to identify the SMEs resilience strategies during this challenging time. This study has taken a quantitative exploratory approach. Data were collected using an online questionnaire survey. Results indicate that SMEs focus on product differentiation as well as cost, financing and technology processes, thus suggesting the companies are resilient to disruptions. In addition, the result suggests that leveraging technology through e-commerce and digital marketing for business products and services facilita...

How do Micro, Small, and Medium Enterprises (MSMES) in Bali Survive the Pandemic? a Qualitative Study in Buleleng, Tabanan, Gianyar, and DenpasarHow do Micro, Small, and Medium Enterprises (MSMES) in Bali Survive the Pandemic? a Qualitative Study in Buleleng, Tabanan, Gianyar, and Denpasar

International Journal of Professional Business Review

Purpose: This study aims to explore the survival strategies carried out by local micro, small, and medium enterprise (MSME) actors to maintain their business, especially during the COVID-19 pandemic which lasted for more than two years. In Bali, the problems that arise with MSMEs are not only the layoff rate and loss of a number of consumers but also the emergence of competitors from new business actors who come from tourism workers affected by layoffs. Theoretical framework: Small and Medium Enterprises (Qosasi et.al: 2019) that are able to capture potential markets in the future are those who utilize Information and Communication Technology (ICT) in their business. Amadasun, D.O.E., Mutezo, A.T. (2022) show that the factors used to measure market-based strategies such as market orientation, the intensity of competition, and technology dynamics affect the competitive growth of SMEs. However, studies on the survival of SMEs in Bali are still important, given their role as the gove...

How do they survive? Study on small businesses survive COVID-19 in Semarang

Jurnal Manajemen Indonesia, 2021

Tujuan penelitian ini untuk menganalisis faktor yang membuat bisnis kecil bertahan di masa pandemi Covid-19. Metode yang digunakan dalam penelitian ini yaitu Exploratory Factor Analysis (EFA) dengan menyertakan pengaruh moderasi. Sejumlah 162unit usaha kecil di Kota Semarang berpartisipasi dalam penelitian ini mengisi instrument secara daring. Hasil penelitian ini menunjukkan Business Performance, Government Policy dan Stress Process memiliki pengaruh positif terhadap Business Resilience. Proses mempertahankan bisnis diperlemah dengan karaktersitik kerentanan bisnis yang akan terus membayangi pemilik bisnis untuk mempertahankan bisnis. Bagi pemilik bisnis kecil di Semarang diharapkan dapat meningkatkan kinerja bisnis dengan memperluas orientasi pasar dengan menghasilkan barang yang harganya lebih rendah dengan kualitas yang sama dan mungkin mengurangi kuantitas. Sedangkan Input Materials harus beralih menggunakan bahan baku lokal meskipun harganya terpaut cukup mahal disbanding yang...

Investigating the success factors of small and medium-sized enterprises in sustaining business operations during COVID-19

Corporate Governance and Organizational Behavior Review

The upheaval caused by the spread of COVID-19 made a devastating effect on businesses, especially small businesses. A huge number of small businesses cannot survive within 3 months of an economic shutdown (Ligouri & Pittz, 2020); however, some survive and maintain their business operation. Therefore, the purpose of this study is to explore the success factors in sustaining the business operation. Specifically, the intention is to investigate what are the important factors leading small and medium-sized enterprises (SMEs) in Malaysia to be able to survive and drive their business operation during the COVID-19 pandemic. A qualitative approach was employed, data was collected through interviews, and seven business owners were identified through the purposive sampling method (Tongco, 2007). The findings revealed that most SMEs are disrupted by the pandemic and struggling for funding to survive in the business. In addition, entrepreneurs adapted to the new business model and utilized the...

Survival Strategies and Utilization of Digital Business the Micro, Small and Medium Enterprises (MSMEs) Yummy Zi Karawang In The Midst of the Covid-19 Pandemic

International journal of scientific and management research, 2022

The purpose of this research is to examine the business strategy of Yummy Zi the Micro Small and Medium Enterprises (MSMEs) and examine the SWOT analysis matrix strategy (Strength, Weakness, Opportunity and Threat) of Yummy Zi MSMEs in the midst of the COVID-19 Pandemic. The research method use descriptive quantitative methods with SWOT analysis techniques, external factors analysis summary, internal factors analysis summary, matrix by conducting in depth interviews on the research object to primary data and secondary data. The results showed that the business strategy by utilizing information technology and digital business through Go Food and social media was not optimal. The defensive strategy applied in this condition is to support an aggressive growth policy (growth oriented strategy). So it is possible to continue to expand, enlarge growth and seize opportunities to the fullest for the advancement of Yummy Zi MSMEs. The results also show that the diversification quadrant, which is also known as the ST strategy, uses its strengths to overcome all existing threats, so it can be concluded that the right strategy to be implemented by Yummy Zi is to improve product quality and innovate products so that they have distinctive characteristics. That are unique and different from other competing businesses.

The Survivability of Small Micro Enterprise (Sme) in Indragiri Hulu During the Epidemic

Jurnal Manajemen dan Bisnis

The spread of Corona Virus in along 2020 is unpredictable and uncontrolled. According to this condition, a lot of Big Company weakened and got involved in to a worst situation and even collapse. And of course, Small Micro Enterprise (SME) will be or had been bothered by the impact. Indonesian Government has made various efforts to avoid the effects of the COVID-19 epidemic on SME. There are a lot of ways and approaches implemented to overcome it. The objectives of the study is to find win-win solution for SME to keep survive during the COVID-19 epidemic. The population of the study is the Indragiri Hulu SME Entrepreneurs. The Category of five years are selected to be the sample which is limited to 10 successful survival entrepreneurs that represents the descriptive category. Moreover, the data analysis technique used in this study was data analysis with a data reduction model that was obtained from data collection and data display. The results of this study show six strategies based...

Marketing Strategy in Maintaining the Continuity of Micro, Small and Medium Enterprises (MSMEs) during the Covid-19 Pandemic in Pekanbaru City

Interdiciplinary Journal and Hummanity (INJURITY)

This research is a literature study on marketing strategies for MSME owners in Riau. This study aims to analyze what marketing strategies are used by MSME owners in an effort to maintain their business continuity. The research method used in this study is a qualitative descriptive method. The type of data used in this study is qualitative data, which is categorized into two types, namely primary data and secondary data. Sources of data obtained through library research techniques (library study) which refers to sources available both online and offline such as: scientific journals, books and news sourced from trusted sources. The results of the study conclude that the marketing strategies carried out by MSME owners in maintaining their business during the Covid-19 pandemic are; Product Strategy, during the Covid-19 pandemic, MSME owners in Riau also created innovations in their respective products. Price Strategy (Price), during the pandemic, MSME owners in Riau also carried out a p...