What was the impact of business performance on MSMEs during the COVID-19 pandemic?

Hendra Achmadi (), Oscar Jayanagara () and Ahmad Hidayat Sutawijaya ()

Asian Economic and Financial Review, 2023, vol. 13, issue 4, 279-292

Abstract: The COVID-19 pandemic has caused changes in the pattern of interactions between people and has also had an impact on market traders in Indonesia. The purpose of this research is to increase the competitiveness of MSMEs through entrepreneurial orientation, market orientation and technology orientation toward product innovation and their impact on MSMEs’ business performance. This study uses the partial least squares structural equation modeling (PLS-SEM), and convenience sampling was used to select 160 MSMEs for the study sample. Based on the path coefficients that lead to business performance, technology orientation has a value of 16.1, followed by product innovation with a value of 10.6, market orientation with a value of 0.009, and entrepreneurship orientation with a value of 0.004, which have a positive effect on business performance. But if you look at what influences product innovation, the first is technology orientation at 0.357, followed by market orientation at 0.325, and entrepreneurial orientation at 0.245. This means that technology orientation is vital in improving business performance and product innovation.

Keywords: Entrepreneurial orientation; Market orientation; Product innovation and business Performance; Technology orientation. (search for similar items in EconPapers)
Date: 2023
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