Strategies to Increase MSME Income to Maintain Business Continuity in the Era of the Industrial Revolution 4.0 (Study on Food and Beverage MSMEs in Sukabumi Regency)

Muhammad Musapa (), Nyai.holilah () and S.Si.M.M. Yusuf Iskandar ()
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Muhammad Musapa: Universitas Nusaputra
Nyai.holilah: Universitas Nusaputra
S.Si.M.M. Yusuf Iskandar: Universitas Nusaputra

A chapter in Proceedings of the International Conference on Economics, Management, and Accounting (ICEMAC 2022), 2023, pp 457-472 from Springer

Abstract: Abstract Micro, Small and Medium Enterprises (MSMEs) are business entities that have a strategic role in improving the national economy. The contribution of MSMEs to become the backbone of the national economy can be seen as the process of providing various economic services to the community, equalizing and increasing people’s income, encouraging economic growth and achieving national stability. In addition, MSMEs are also a place to give birth to new entrepreneurs. Entrepreneurs are currently facing a wave of the Industrial Revolution 4.0 which requires MSMEs to reassess how to do business so as not to be overwhelmed by competition. Entrepreneurial orientation and market orientation are the first movers and enhancers of competitive advantage. The purpose of this study is to find a strategy to increase MSME income in order to maintain business continuity in the era of the Industrial Revolution 4.0. The overall goal to be achieved is to increase the knowledge of MSME groups in the digitalization period and increase the income of Small and Medium Enterprises (MSMEs) to achieve business continuity in the era of the Industrial Revolution 4.0. in Sukabumi Regency. For this reason, MSMEs need alternative strategies in order to continue their business. This research uses qualitative research methods, qualitative research including a form of research with the basis of examining the conditions on the object of research naturally. Qualitative methods using descriptive techniques such as data reduction, data presentation and drawing conclusions through SWOT analysis. The respondents to this survey are MSME business actors from the Sukabumi Regency Cooperative Office. l Quantitative Strategic Planning Matrix (QSPM) the priority alternative strategy that has the highest assessment is to carry out the latest innovations to add new products and develop products with a TAS value of 8.08.

Keywords: Strategy; business; SWOT; Industrial Revolution 4.0; MSMEs (search for similar items in EconPapers)
Date: 2023
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DOI: 10.2991/978-94-6463-226-2_37

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