Business Analysis and Product Innovation to Improve SMEs Business Performance
Keywords:
Business, SMEs, Product Innovation
Abstract
Currently, business growth, especially small and medium-sized businesses in Bandung City, Indonesia, has experienced a fairly high increase. In this era of the COVID-19 pandemic, SME players must be able to improve their analytical skills, especially knowledge about business trends. In addition, the innovation factor is also perceived to be very important in order to survive in the face of competition. This study is aimed to understand the influence of business analysis and innovation performance in improving the business performance of small and medium enterprises. This study uses a quantitative method with an explanatory approach to determine how much influence the independent variable has on the dependent variable. Respondents in this study were SMEs in the city of Bandung, especially on Jalan Cikutra. 200 questionnaires were distributed but only 170 were returned. The results in this study are that these two variables have a fairly high influence on business performance. This shows that the variables of business analysis ability and innovation are important factors for SMEs to improve their business performance
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[2] Ponkratov, V. (2019). Productivity and Economic Growth by Using Business Management Based on the E-marketing: Evidence from developed and developing countries, 2000-2018. Industrial Engineering and Management Systems, 18(3), 463–473.
[3] Wannakrairoj, W., & Velu, C. (2021). Productivity growth and business model innovation. Economics Letters.
[4] Ngoasong, M. Z. (2019). Why Hurry? The Slow Process of High Growth in Women-Owned Businesses in a Resource-Scarce Context. Journal of Small Business Management, 57(1), 40–58.
[5] Kotler, P., Keller, K. L., Ang, S. H., Tan, C. T., & Leong, S. M. (2021). Marketing management: an Asian Perspective.
[6] Jocevski, M. (2020). Exploring the growth challenge of mobile payment platforms: A business model perspective. Electronic Commerce Research and Applications, 40.
[7] Glomsrød, S. (2018). Business as unusual: The implications of fossil divestment and green bonds for financial flows, economic growth and energy market. Energy for Sustainable Development, 44, 1–10.
[8] Purwanti, P., Sarwani, S., & Sunarsi, D. (2020). Pengaruh Inovasi Produk Dan Brand Awareness Terhadap Keputusan Pembelian Konsumen Pada PT. Unilever Indonesia. Inovasi.
[9] Hacklin, F. (2018). Strategies for business model innovation: How firms reel in migrating value. Long Range Planning, 51(1), 82–110.
[10] Marchet, G. (2018). Business logistics models in omni-channel: a classification framework and empirical analysis. International Journal of Physical Distribution and Logistics Management, 48(4), 439–464.
[11] Pourkhani, A. (2019). The impact of social media in business growth and performance: A scientometrics analysis. International Journal of Data and Network Science, 3(3), 223–244.
[12] Agwu, M. (2018). Analysis of the impact of strategic management on the business performance of SMEs in Nigeria. Academy of Strategic Management Journal, 17(1).
[13] Gallego-Alvarez, I. (2020). An analysis of business ethics in the cultural contexts of different religions. Business Ethics, 29(3), 570–586.
[14] Hausberg, J. P. (2020). Business incubators and accelerators: a co-citation analysis-based, systematic literature review. Journal of Technology Transfer, 45(1), 151–176.
[15] Müller, S. C. (2018). Sharing electricity storage at the community level: An empirical analysis of potential business models and barriers. Energy Policy, 118, 492–503.
[16] Dubgorn, A. (2019). Analysis of digital business transformation tools. In Proceedings of the 33rd International Business Information Management Association Conference, IBIMA 2019: Education Excellence and Innovation Management through Vision 2020 (pp. 9677–9682).
[17] Wang, H. (2020). Integrated techno-economic modeling, flexibility analysis, and business case assessment of an urban virtual power plant with multi-market co-optimization. Applied Energy, 259.
[18] Elmo, G. C. (2020). Sustainability in tourism as an innovation driver: An analysis of family business reality. Sustainability (Switzerland), 12(15).
[19] Henseler, J. (2020). Using confirmatory composite analysis to assess emergent variables in business research. Journal of Business Research, 120, 147–156.
[20] Meng, X. (2018). Innovation in construction firms of different sizes: drivers and strategies. Engineering, Construction and Architectural Management, 25(9), 1210–1225.
[21] Bayraktar, C. (2017). Competitive strategies, innovation, and firm performance: an empirical study in a developing economy environment. Technology Analysis and Strategic Management, 29(1), 38–52.
[22] Desyllas, P. (2018). Capturing Value from Innovation in Knowledge-Intensive Business Service Firms: The Role of Competitive Strategy. British Journal of Management, 29(4), 769–795.
[23] Marín, F. V. (2017). Strategies of institutions of higher education for the integration of information and communication technologies and of innovation in the teaching process. A study in the district of Barranquilla, Colombia. Formacion Universitaria, 10(6), 29–38.
[24] Peñalver, A. B. (2018). Innovation management and strategy. Journal of Scientific and Industrial Research, 77(8), 437–441.
[25] Herstad, S. (2018). Innovation strategy choices in the urban economy. Urban Studies, 55(6), 1185–1202.
[26] Vanhaverbeke, W. (2017). The importance of connecting open innovation to strategy. Strategy and Communication for Innovation: Integrative Perspectives on Innovation in the Digital Economy (pp. 3–15).
[27] Henttonen, K. (2017). Open innovation in SMEs: Collaboration modes and strategies for commercialization in technology-intensive companies in forestry industry. European Journal of Innovation Management, 20(2), 329–347.
[28] Johan A., Isfianadewi, D., T. A. A. (2019). Sales Force and Intelligenec Strategic in SMEs Performance: Case Study of Batik’s Enterprises in Bringharjo Yogyakarta. Journal of Business Studies and Management Review (JBSMR), 2(2), 112–127.
[29] Cheah, S. (2018). Business model innovation for sustainable performance in retail and hospitality industries. Sustainability (Switzerland), 10(11).
[30] Chen, C. (2018). How business strategy in non-financial firms moderates the curvilinear effects of corporate social responsibility and irresponsibility on corporate financial performance. Journal of Business Research, 92, 154–167.
[31] Abbas, J. (2019). The effects of corporate social responsibility practices and environmental factors through a moderating role of social media marketing on sustainable performance of business firms. Sustainability (Switzerland), 11(12).
[32] Sousa-Zomer, T. T. (2018). Sustainable business models as an innovation strategy in the water sector: An empirical investigation of a sustainable product-service system. Journal of Cleaner Production, 171.
Published
2022-01-31
How to Cite
Febrianti, R. A. M., & Herbert, A. S. N. (2022). Business Analysis and Product Innovation to Improve SMEs Business Performance. International Journal of Research and Applied Technology (INJURATECH), 2(1), 1-10. https://doi.org/10.34010/injuratech.v2i1.6524
Section
Articles
