Strengthening the Creative Strategic Role In the Dimension of Sustainable Business
DOI:
https://doi.org/10.53512/valid.v20i2.299Keywords:
dynamic innovation; digital marketing; sustainable business; competitiveness.Abstract
Most countries and companies always experience a competitive environment, all of which occur due to the development of increasingly capable knowledge and technology, where this is becoming increasingly widespread innovation. This study aims to determine the strengthening of the creative strategic role (dynamic innovation and digital marketing) in sustainable business (competitiveness). This quantitative research method uses primary data obtained from questionnaire data and measured by a Likert scale (1-5). The population of this research is the small business actors in Bali provinces with the lowest economic growth (which has experienced a decline) in Indonesia in 2020-2022. The sample selection used the Slovin formula to obtain a total of 54.489 people, and the research sample obtained is 401 people. Questionnaires as research data were collected and distributed to every small business actor, and data or statistical analysis techniques in the study were considered using the Structural Equation Model (SEM) with WarpPLS 7.0 software modeling. The results of this study show that dynamic innovation and digital marketing have a positive and significant impact on sustainable business.
References
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Bala, M., & Verma, D. (2018). A Critical Review of Digital Marketing. International Journal of Management, IT & Engineering, 8(10), 321–339.
Clauss, T., Abebe, M. A., Tangpong, C., & Hock, M. (2019). Strategic Agility, Business Model Innovation and Firm Performance: An Empirical Investigation. In R. C. Vackar (Ed.), IEEE Transactions on Engineering Management (pp. 1–18). University of Texas Rio Grande Valley. https://doi.org/10.1109/TEM.2019.2910381
Day, G. S., & Schoemaker, P. J. (2016). Adapting to fast-changing markets and technologies. California Management Review, 58(4), 59–77.
Fuentelsaz, L., Maícas, J. P., & Montero, J. (2018). Entrepreneurs and innovation: The contingent role of institutional factors. International Small Business Journal, 36(4), 2–26. https://doi.org/10.1177/0266242618766235
Gulati, S., & Grover, A. (2022). The Impact Of Social Media Platforms On The Growth Of Startups In India. International Journal of Early Childhood Special Education, 14(1), 2240–2247. https://doi.org/10.9756/INT-JECSE/V14I1.260
Haseeb, M., Hussain, H. I., Kot, S., Androniceanu, A., & Jermsittiparsert, K. (2019). Role of Social and Technological Challenges in Achieving a Sustainable Competitive Advantage and Sustainable Business Performance. Sustainability, 11(14), 3811. https://doi.org/10.3390/su11143811
Herliana, S. (2015). Regional innovation cluster for small and medium enterprises (SME): A triple helix concept. Procedia-Social and Behavioral Sciences, 169, 151–160. https://doi.org/10.1016/j.sbspro.2015.01.297
Hidayat, N. (2021). The Effect of Knowledge Sharing and Absorptive Capacity on Service Innovation Performance: A Study of Micro, Small and Medium Enterprises in Tarakan City. Jurnal Metris, 22(01), 1–9.
Ibrahim, S. S., and P. G. (2018). A Study on the Impact of Social Media Marketing Trends on Digital Marketing. Shanlax International Journal of Management, 6(1), 120–125. https://doi.org/10.5281/ zenodo.1461321
Ismanu, S., & Kusmintarti, A. (2019). Innovation and firm performance of small and medium enterprises. Review of Integrative Business and Economics Research, 8(2), 312–323.
Juntunen, J. K., Halme, M., Korsunova, A., & Rajala, R. (2019). Strategies for integrating stakeholders into sustainability innovation: a configurational perspective. Journal of Product Innovation Management, 36(3), 331–355.
Kementerian Keuangan RI. (2022). Kajian Fiskal Regional Provinsi Bali.
Kementerian Koperasi dan UMKM. (2022). Berapa Jumlah UMKM di Indonesia? DataIndonesia.Id. https://dataindonesia.id/sektor-riil/detail/berapa-jumlah-umkm-di-indonesia
Kock, N. (2015). WarpPLS 5.0 User Manual. Laredo, TX: ScriptWarp Systems, Texas, USA.
Lestari, S. D., Leon, F. M., Widyastuti, S., BRABO, N. A., & Putra, A. H. P. K. (2020). Antecedents and consequences of innovation and business strategy on performance and competitive advantage of SMEs. The Journal of Asian Finance, Economics and Business, 7(6), 365–378.
Matarazzo, M., Penco, L., Profumo, G., & Quaglia, R. (2021). Digital transformation and customer value creation in Made in Italy SMEs: A dynamic capabilities perspective. Journal of Business Research, 123, 642–656. https://doi.org/10.1016/j.jbusres.2020.10.033
Mei, L., Rentocchini, F., & Chen, J. (2021). Antecedents of strategic ambidexterity in firms’ product innovation: External knowledge and internal information sharing. Journal of Small Business Management, 1–30.
Nuseir, M. T. (2016). Exploring the use of online marketing strategies and digital media to improve the brand loyalty and customer retention. International Journal of Business and Management, 11(4), 228–238. https://doi.org/10.5539/ijbm.v11n4p228
Pfeiffer, S. (2021). The Greater Transformation: Digitalization and the Transformative Power of Distributive Forces in Digital Capitalism. International Critical Thought, 11(4), 535–552.
Purnamawati, I. G. A., Jie, F., Hong, P. C., & Yuniarta, G. A. (2022). Analysis of Maximization Strategy Intangible Assets through the Speed of Innovation on Knowledge-Driven Business Performance Improvement. Economies, 10(6), 1–20. https://doi.org/10.3390/economies10060149
Purnamawati, I. G. A., Oudah, A. Y., Othman, H. Bin, Ibrahim, I. Bin, Iswanto, A. H., Komariah, A., Sergin, A. A., Hasbi, I., & Mustafa, Y. F. (2022). A Comprehensive Optimization Approach Based on Cloud Computing for Logistic Sharing System Planning. Industrial Engineering and Management Systems, 21(3), 468–474. https://doi.org/10.7232/iems.2022.21.3.468
Purnamawati, I. G. A., & Yuniarta, G. A. (2021). Loan Restructuring, Human Capital and Digital towards MSME Performance In the COVID-19 Pandemic. Asia-Pacific Management and Business Application, 10(2), 177–192. https://doi.org/10.21776/ub.apmba.2021.010.02.5
Rangaswamy, A., Moch, N., Felten, C., Van Bruggen, G., Wieringa, J. E., & Wirtz, J. (2020). The role of marketing in digital business platforms. Journal of Interactive Marketing, 51, 72–90.
Romprasert, S., & Trivedi, A. (2021). Sustainable Economy on Community Enterprise and Digital Marketing. ABAC Journal, 41(1), 62–80.
Schneider, H. (2017). Creative Destruction and the Sharing Economy-Uber as Disruptive Innovation (1st ed.). Edward Elgar Publishing Limited. https://doi.org/10.4337/9781786433435
Schumpeter, J. A. (1934). The Theory of Economic Development (R. Opie (ed.); 1st ed.). Oxford University Press.
Sulistyo, H., & Ayuni, S. (2020). Competitive advantages of SMEs: The roles of innovation capability, entrepreneurial orientation, and social capital. Contaduría y Administración, 65(1), 1–10.
Tehseen, S., & Sajilan, S. (2016). Network competence based on resource-based view and resource dependence theory. International Journal of Trade and Global Markets, 9(1), 60–82.
Wernerfelt, B. (1984). A Resource Based View of the Firm. Strategic Management Journal, 5(2).
Wilis, R. A., & Faik, A. (2022). The Effect of Digital Marketing, Influencer Marketing and Online Customer Review on Purchase Decision: A Case Study of Cake Shop “Lu’miere.” International Journal Of Business Studies, 5(2), 155–162. https://doi.org/10.9744/ijbs.5.2.155–162
Yuniarta, G. A., Purnamawati, I. G. A., & Suwena, K. R. (2023). The Effect of Using Digital Marketing Platforms, Optimizing Potential Assets on the Inclusive and Sustainable Economy Improvement. International Journal of Organizational Behavior and Policy, 2(1), 35–44. https://doi.org/10.9744/ijobp.2.1.35-44
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Published
2023-06-29
How to Cite
Yuniarta, G. A., & Purnamawati, I. G. A. (2023). Strengthening the Creative Strategic Role In the Dimension of Sustainable Business. Valid: Jurnal Ilmiah, 20(2), 1–10. https://doi.org/10.53512/valid.v20i2.299
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