Economic Preneur's Innovative Strategy in Facing the Economic Crisis

Authors

  • Yamato Shino University of Miyazaki
  • Fransisca Utami Mercu Buana University
  • Sekar Sukmaningsih Mercu Buana University

DOI:

https://doi.org/10.34306/itsdi.v5i2.660

Keywords:

Economic Preneurs, Digital Transformation, Entrepreneurial Innovation, Qualitative Research, Economic Crisis

Abstract

The global economic crisis has placed significant pressure on Economic Preneurs, compelling them to adopt innovative strategies to sustain their businesses amidst challenges. This research delves into the myriad of innovative strategies employed by Economic Preneurs to effectively navigate economic downturns. Utilizing a qualitative research methodology, the study conducts in-depth interviews with fifty Economic Preneurs spanning various industries. The findings shed light on the effectiveness of several strategies, including digital transformation, diversification of service offerings, and a heightened emphasis on customer value optimization. Through these strategies, Economic Preneurs strive to adapt to changing market conditions and customer preferences, ensuring the resilience and viability of their enterprises. Ultimately, it is observed that Economic Preneurs who demonstrate agility and innovation in response to economic challenges are more likely to not only weather financial adversities but also thrive and expand their enterprises. This study contributes to the existing body of literature by offering empirical evidence on resilience tactics utilized during economic crises and provides practical insights for business leaders and policymakers. These insights can inform the creation of conducive environments that foster entrepreneurial innovation and promote economic sustainability in the face of adversity.

Downloads

Download data is not yet available.

References

F. R. Wulandari, B. Supriyono, M. R. K. Muluk, and E. Setyowati, “Depok City Creative Economy Development Strategy During the Covid19 Pandemic,” KnE Social Sciences, pp. 277–288, 2022.

M. Arora and R. L. Sharma, “Repurposing the Role of Entrepreneurs in the Havoc of COVID19,” in Entrepreneurship and big data, CRC Press, 2021, pp. 229–250.

T. B. J. Kumar, T. Rathakrishnan, F. Feranita, and Y. J. Yi, “Adversity Breeds Innovation The Essential Role of Necessity Preneurs in the COVID19 Era,” in Entrepreneurship Research: Developing New and Emerging Patterns in the Post COVID19 Pandemic Era, Springer, 2023, pp. 1–18.

N. Nurani, B. Nadzlania, and L. Primanitariyanti, “EMPOWERMENT OF WOMEN HUMAN RESOURCES (WOMEN PRENEUR) AT MSME IN WEST JAVA TO INCREASE ECONOMIC INDEPENDENCE THROUGH TECHNOLOGY DURING COVID19.,” Central Asia & the Caucasus (14046091), vol. 23, no. 1, 2022.

D. A. S. Rini and A. Winarno, “ENTREPRENEURSHIP EDUCATION PROCESS IN FORMING STUDENTS PRENEUR AT SUNAN PONDOK PESANTREN VOCATIONAL SCHOOL DRAJAT LAMONGAN,” Nusantara Economics and Entrepreneurships Journals, pp. 177–183, 2023.

A. Khursheed, F. Mustafa, and A. A. Khan, “Turning the COVID19 crisis into entrepreneurial success an exploratory study on women innovators of Pakistan,” Enterprise Development & Microfinance, no. 1, pp. 57–67, 2021.

R. Mardikaningsih, E. I. Azizah, N. N. Putri, M. N. Alfan, and M. M. D. H. Rudiansyah, “Business Survival Competence of Micro, Small and Medium Enterprises,” Journal of Social Science Studies (JOS3), vol. 2, no. 1, pp. 1–4, 2022.

I. Rajiani, S. Kot, J. Michalek, and I. Gede Riana, “Barriers to technology innovation among nascent entrepreneurs in deprived areas,” Problems and Perspectives in Management, vol. 21, no. 3, pp. 614–628, 2023.

U. Rusilowati, F. P. Oganda, R. Rahardja, T. Nurtino, and E. Aimee, “Innovation in Smart Marketing The Role of Technopreneurs in Driving Educational Improvement,” Aptisi Transactions on Technopreneurship (ATT), vol. 5, no. 3, pp. 305–318, 2023.

L. Meria, C. Yohana, U. Purwohedi, and D. Apriliasari, “Reinforcing lecturer readiness to change by increasing psychological capital and engagement,” Aptisi Transactions on Technopreneurship (ATT), vol. 5, no. 3, pp. 261–277, 2023.

O. A. D. Wulandari and D. Apriani, “Sustainable Institutional Entrepreneurial Culture and Innovation For Economic Growth,” APTISI Transactions on Management, vol. 7, no. 3, pp. 221–230, 2023.

M. R. Aulia, Z. Lubis, and I. Effendi, “Leveraging Quality Management and Partnership Programs for Technopreneurial Success Exploring their Impact on MSME Performance,” Aptisi Transactions on Technopreneurship (ATT), vol. 5, no. 2, pp. 157–168, 2023.

M. H. R. Chakim, P. A. Sunarya, V. Agarwal, and I. N. Hikam, “Village tourism empowerment against innovation, economy creative, and social environmental,” Aptisi Transactions on Technopreneurship (ATT), vol. 5, no. 2sp, pp. 162–174, 2023.

C. Lukita, M. Hardini, S. Pranata, D. Julianingsih, and N. P. L. Santoso, “Transformation of Entrepreneurship and Digital Technology Students in the Era of Revolution 4.0,” Aptisi Transactions on Technopreneurship (ATT), vol. 5, no. 3, pp. 291–304, 2023.

N. N. Halisa, “Peran Manajemen Sumber Daya Manusia" Sistem Rekrutmen, Seleksi, Kompetensi dan Pelatihan" Terhadap Keunggulan Kompetitif Literature Review,” ADI Bisnis Digital Interdisiplin Jurnal, vol. 1, no. 2 Desember, pp. 14–22, 2020.

H. T. Sukmana, “Prototyping ITSDI Journal Center Menggunakan Tools Invision Untuk Mewujudkan Creative Innovation Soft Skill Di Era Industri 4.0,” ADI Bisnis Digital Interdisiplin Jurnal, vol. 1, no. 1, pp. 56–69, 2020.

U. Rahardja, Q. Aini, F. Budiarty, M. Yusup, and A. Alwiyah, “Socio economic impact of Blockchain utilization on Digital certificates,” Aptisi Transactions on Management (ATM), vol. 5, no. 2, pp. 106–111, 2021.

X. Hu et al., “Relationship between green leaders emotional intelligence and employees green behavior a PLS SEM approach,” Behavioral Sciences, vol. 13, no. 1, p. 25, 2023.

G. Maulani, E. W. Musu, Y. J. W. Soetikno, and S. Aisa, “Education Management using Blockchain as Future Application Innovation,” IAIC Transactions on Sustainable Digital Innovation (ITSDI), vol. 3, no. 1, pp. 60–65, 2021.

Downloads

Published

2024-02-09

How to Cite

Shino, Y., Utami, F. ., & Sukmaningsih, S. (2024). Economic Preneur’s Innovative Strategy in Facing the Economic Crisis. IAIC Transactions on Sustainable Digital Innovation (ITSDI), 5(2), 117–126. https://doi.org/10.34306/itsdi.v5i2.660

Issue

Section

Articles