Economic Preneur's Innovative Strategy in Facing the Economic Crisis

Economic Preneur's Innovative Strategy in Facing the Economic Crisis

08 February 2024 | Yamato Shino, Fransisca Utami, Sekar Sukmaningsih
The study explores the innovative strategies employed by Economic Preneurs to navigate economic crises, focusing on digital transformation, diversification, and customer value optimization. Utilizing qualitative research methods, the study conducted in-depth interviews with fifty Economic Preneurs from various industries. The findings highlight the effectiveness of these strategies in sustaining and growing businesses during economic downturns. Digital transformation, with a high Theme Relevance Index (TRI) of 0.76, is crucial for pivoting operations online and reaching new customer bases. Diversification, with a TRI of 0.68, helps manage risk and tap into new opportunities. Customer value optimization, with a TRI of 0.82, emphasizes enhancing customer relationships and service quality. Strategic cost management, employee engagement, and leveraging government support are also important but less prevalent. The study contributes to the literature by providing empirical evidence and practical insights for business leaders and policymakers, emphasizing the need for flexible and innovative strategies to ensure business resilience and sustainability.The study explores the innovative strategies employed by Economic Preneurs to navigate economic crises, focusing on digital transformation, diversification, and customer value optimization. Utilizing qualitative research methods, the study conducted in-depth interviews with fifty Economic Preneurs from various industries. The findings highlight the effectiveness of these strategies in sustaining and growing businesses during economic downturns. Digital transformation, with a high Theme Relevance Index (TRI) of 0.76, is crucial for pivoting operations online and reaching new customer bases. Diversification, with a TRI of 0.68, helps manage risk and tap into new opportunities. Customer value optimization, with a TRI of 0.82, emphasizes enhancing customer relationships and service quality. Strategic cost management, employee engagement, and leveraging government support are also important but less prevalent. The study contributes to the literature by providing empirical evidence and practical insights for business leaders and policymakers, emphasizing the need for flexible and innovative strategies to ensure business resilience and sustainability.
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