Penelitian ini difokuskan pada pelaku UMKM Songkok di Kabupaten Gresik, untuk menguji pengaruh modal manusia terhadap orientasi pasar, pengaruh modal manusia terhadap kinerja UMKM, dan pengaruh orientasi pasar terhadap kinerja UMKM. Penelitian ini mengolah data primer yang diperoleh menggunakan kuesioner yang dibagikan kepada 163 pelaku UMKM. Sampel penelitian dipilih menggunakan metode penyampelan probabilitas dan metode yang digunakan dalam penarikan sampel probabilitas dalam penelitian ini adalah penyampelan klaster. Alat analisis yang digunakan adalah Partial Least Square (PLS). Hasil penelitian menunjukkan bahwa modal manusia berpengaruh terhadap orientasi pasar, modal manusia berpengaruh terhadap kinerja UMKM, dan orientasi pasar berpengaruh terhadap kinerja UMKM.
Purpose This study aims to investigate the ways that human capital influences the strategic orientation variables entrepreneurial orientation (EO) and market orientation (MO), which ultimately leverage the firm performance of small and medium enterprises (SMEs) in Indonesia. Design/methodology/approach This study used a quantitative method with a total of 274 SMEs in the Regency of Gresik, East Java, Indonesia, as the observable population. Furthermore, the identified samples obtained through the random sampling technique were determined using the Slovin formula with 163 SMEs used for analysis. As the means of analysis, this study used a statistical approach by using PLS-SEM statistics from SmartPLS software. This analytical tool has been proven to be a robust statistical tool that has been used in many marketing studies. Findings This study found that human capital is a key determinant of EO and MO as strategic orientations of SMEs. Furthermore, this study highlighted that SMEs’ strategic orientations (i.e. EO and MO) provide a valuable thrust that leverages firm performance. Moreover, the role of human capital in leveraging firm performance was found to be significant with the role of the joint effect of EO and MO as mediator. This implies that human capital is not solely a single determinant that leverages SMEs’ performance. Research limitations/implications There are few aspects of limitations in this research that could be enhanced by other scholars in the discipline of entrepreneurship. First, the strategic orientation concept being indicated by EO and MO had yet to provide a comprehensive view of strategic orientation. Second, this research used samples that represent the traditional furniture cluster in East Java and had yet to explore other clusters such as food processing and services cluster which may be relevant to the context of SMEs in Indonesia. Practical implications As a practical implication, this study would benefit policymakers in Indonesia, such as the Ministry for Cooperatives and SMEs to provide assistance to SMEs to progressively nurture capacity-building through formal and informal education to leverage human capital. Moreover, it could benefit other relevant businesses, such as national banks in Indonesia whose interests are significant, especially in providing financial access to SMEs in Indonesia. Social implications The social implication of this research lay the focus on the suggestion by which SMEs must be able to optimize their capabilities by enhancing levels of human capital particularly for traditionally managed SMEs. The ability to survive external pressures for would be able to contribute to the social well-being of their society as many people are dependent heavily in the operation of the SMEs. Originality/value The significance of this study is twofold. Although the use of human capital as a determinant of firm performance has been discussed in the literature, few studies to date has sought to predict human capital with EO and MO as mediators of firm performance. Furthermore, the joint impact of EO and MO as a strategic orientation needs to be holistically explored and explained, particularly in an emerging economy context.
Purpose — This research aims to determine the effect of entrepreneurial orientation on market orientation, entrepreneurial orientation on the performance of MSMEs, and market orientation towards the performance of MSMEs. Design/methodology/approach — The object of this research is Songkok Micro Small and Medium Enterprises (MSME) in Gresik Regency. Findings — The results of this study indicate that entrepreneurial orientation has a significant effect on market orientation, entrepreneurial orientation has a significant effect on the performance of MSMEs, and market orientation has a significant effect on the performance of MSMEs. Practical Implications — The entrepreneurial movement plays a role in economic development in Indonesia. Although the number of entrepreneurs in Indonesia is still relatively low compared to other Southeast Asian countries, according to the 2015-2016 GEM Indonesia Report survey, the intention of entrepreneurship in Indonesia is high compared to Singapore, Thailand, Vietnam and Malaysia. Originality/value — This research uses a cluster sampling method involving 163 respondents and uses PLS (Partial Least Square) analysis tools with SmartPLS 3.0 software.
This study aims to determine the factors that influence financial behavior in youth's entrepreneurs in East Java, Indonesia. The focus of the research is young entrepreneurs, because the high rates of unsustainability of this group. It is presumed that the lack of knowledge, ability and skill on their financial basic financial has been factors affecting their business' failure. It also assumes that the success of an entrepreneur is determined by how they make the right decisions in their business. The last factor can be influenced by how they manage their emotions (both emotions for themselves and emotions in others). The combination between I-E-O (Input-Environment-Outcome) models and Theory Reasoned Action will be used to explain how the entrepreneur behavior in term of financial management. The data was collected through the survey on 200 young entrepreneurs in East Java. Data analysis used the Structural Equational Model (SEM) with the Partial Least Square (PLS) approach. The result is that there is a significant direct and indirect effect between financial literacy and emotional intelligence on financial behavior in youth's entrepreneurs. It can be concluded that very important for young entrepreneur to maintain their financial literacy as well as manage their emotional intelligent in order to make their business successful and sustainable.
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