08 February 2024 | Yamato Shino, Fransisca Utami, Sekar Sukmaningsih
This study explores the innovative strategies employed by Economic Preneurs to navigate economic crises. Using qualitative research methods, in-depth interviews with 50 Economic Preneurs across various industries revealed key strategies such as digital transformation, diversification of services, and customer value optimization. These strategies help businesses adapt to changing market conditions and maintain resilience during economic downturns. The research highlights the importance of agility and innovation in overcoming financial challenges, enabling businesses not only to survive but also to thrive and expand. The findings contribute to academic literature by providing empirical evidence on resilience tactics during economic crises and offering practical insights for business leaders and policymakers. The study also emphasizes the role of digital technologies in enhancing business continuity and the significance of customer relationships in maintaining loyalty and attracting new customers. Additionally, the research underscores the importance of strategic cost management, employee engagement, and leveraging government support in navigating economic challenges. The results indicate that while some strategies are universally applicable, others may depend on specific industry contexts or the nature of the economic crisis. Overall, the study provides valuable insights into effective entrepreneurial practices and resilience mechanisms, offering a framework for future entrepreneurs to build crisis-resistant business models.This study explores the innovative strategies employed by Economic Preneurs to navigate economic crises. Using qualitative research methods, in-depth interviews with 50 Economic Preneurs across various industries revealed key strategies such as digital transformation, diversification of services, and customer value optimization. These strategies help businesses adapt to changing market conditions and maintain resilience during economic downturns. The research highlights the importance of agility and innovation in overcoming financial challenges, enabling businesses not only to survive but also to thrive and expand. The findings contribute to academic literature by providing empirical evidence on resilience tactics during economic crises and offering practical insights for business leaders and policymakers. The study also emphasizes the role of digital technologies in enhancing business continuity and the significance of customer relationships in maintaining loyalty and attracting new customers. Additionally, the research underscores the importance of strategic cost management, employee engagement, and leveraging government support in navigating economic challenges. The results indicate that while some strategies are universally applicable, others may depend on specific industry contexts or the nature of the economic crisis. Overall, the study provides valuable insights into effective entrepreneurial practices and resilience mechanisms, offering a framework for future entrepreneurs to build crisis-resistant business models.