Financial Performance Analysis in Manufacturing Companies of The Cement Sectors Listing On Indonesia Stock Exchange (IDX) Period 2013-2017

A new method to empower organizational readiness for change in Indonesian SMEs

“…It was highlighted that most forward-looking Indonesian SMEs possessed organizational readiness and that capturing both social networks and cognition is the spirit that motivates SMEs to reduce business risks. In other words, those SMEs acquired knowledge with their learning and enterprising that is useful to maintain sustainability (Durrah et al, 2016;Noori et al, 2017;Tongli et al, 2019). This study found that most Indonesian SMEs are not always motivated to reduce their business risks (C. Cant et al, 2014 Regardless of the different business characteristics and knowledge acquisition of Indonesian SMEs, it is inferred that most SMEs like to improve their social networks and cognitions.…”

“…The indicator of SME owners' and officers' knowledge was used to justify their capabilities, competencies, and self-efficacy. Third, it positsChelliah et al (2010);Durrah et al (2016);Moreno et al (2010);Noori et al (2017);Stanwick & Stanwick (1998);Tongli et al (2019); andWincent (2005). This study considered the measurements of the firm's financial profits, return on invested capital, market share, and business size.…”

“…This study discusses business characteristics from three perspectives-firms, finances, and innovators. It associates these business characteristics with the performance of SMEs, which are measured with organizational readiness and capacity for change Tongli et al (2019), Durrah et al (2016), andNoori et al (2017) suggested that business characteristics play a determinate role in SMEs' financial and non-financial performance. Researchers argue that the type of firm, financial situation, and innovator's knowledge are resources that could be used by SME management to generalize profits in their business.…”

“…The third type is innovator characteristic arising from future potential benefit, strength, opportunity, weakness, threats, skill, expertise, and environmental fit, which are imbibed in SME cognition of its owners and executive officers (Cant et al, 2014;Chittithaworn et al, 2011). Researchers took into account these three types of characteristics that extant studies have handled mainly as indicators of business performance (Durrah et al, 2016;Noori et al, 2017;Tongli et al, 2019).…”