The Business Resilience of Small Micro Medium Enterprise During Pandemic Time
Keywords:
leverage secondary association, business resilience`Abstract
Due to the pandemic, small and medium enterprises in all fields are experiencing poor performance conditions in 2020. However, companies cannot stand still and need a strategy. Innovative strategies are required to maintain business continuity. The government, the community, and all communities must work together in helping the right business concept during the COVID-19 pandemic. This change will have an impact on maintaining business survival during the uncertain Covid 19 pandemic. Therefore, this study analyzes business strategies seen from the aspect of business resilience for business continuity that can be carried out during the COVID-19 pandemic. This study analyzed the concept of Leverage Secondary Association (LSA) in managing a business as a form of business resilience to maintain the business in the long term. To run their business, small and medium scale companies try to strengthen all elements to support performance. This study can be a reference for SMEs business management companies to rise from this condition. This research focuses on the partnership role of people, places, things, and collaboration with other parties and analyzes optimized programs to support future business continuity. This research approach uses a qualitative approach through interviews with related companies and partners. The study developed a list of questions based on elements of leverage secondary association to be used as interview material. Analysis of interview data for the partnership process and supporting factors was analyzed using data reduction, categorization, and synthesis methods. The interview involved three respondents from the sector of tourism and small business of retail. Strengthening business through a leverage secondary association addresses the achievements of external competitors and strengthens the company's internal components. The implementation of the stakeholder approach provides an overview of the partnerships built so far in its efforts to enhance business resilience.
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Copyright (c) 2022 Dewi Kurniaty, Iin Mayasari, Iyus Wiadi, Ahmad Azmy, Adrian Wijanarko, Ritzka Yauma Putri Driarkoro
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