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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)

In: Proceedings of the International Conference on Economics, Management, and Accounting (ICEMAC 2022)

Author

Listed:
  • Muhammad Musapa

    (Universitas Nusaputra)

  • Nyai.holilah

    (Universitas Nusaputra)

  • S.Si.M.M. Yusuf Iskandar

    (Universitas Nusaputra)

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.

Suggested Citation

  • Muhammad Musapa & Nyai.holilah & S.Si.M.M. Yusuf Iskandar, 2023. "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)," Advances in Economics, Business and Management Research, in: Prasetyo Hartanto (ed.), Proceedings of the International Conference on Economics, Management, and Accounting (ICEMAC 2022), pages 457-472, Springer.
    • Handle: RePEc:spr:advbcp:978-94-6463-226-2_37
    DOI: 10.2991/978-94-6463-226-2_37
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