International Journal of Entrepreneurship, Business and Creative Economy

Branderpreneurship Framing Analysis of MSME Brand "Daviena Skincare"

Riska Yuliarosa, Bambang Sukma Wijaya — Tue, 30 Jul 2024 00:00:00 +0700

Few MSME skincare and cosmetics brands focus on developing brand value to build their business. Among them is Daviena Skincare in Indonesia. This article examines Daviena's entrepreneurship-based brand development strategy using the Branderpreneurship Framing Analysis (BFA) methodology approach. BFA systematically traces and details the value development strategy according to the elements in BrandCoVD (Branderpreneurship's Circle of Values Development), namely identifying, creating, delivering, communicating, maintaining, evaluating, and renewing values. The analysis shows that as a startup that cannot afford influencers and celebrities like other skincare brands, Daviena Skincare utilizes social media with self-demo techniques by the owner and models to convince consumers of the unique advantages of its products. This communication technique provides a domino effect for consumer users to express their experiences through organic testimonials. This study can inspire other MSME and startup brands to develop their brand value with limited resources.

Financial Management Practices and Financial Accounting Standards Compliance: Case of MSMEs in the Northern Philippines

Tue, 30 Jul 2024 00:00:00 +0700

Starting a business appeared simple; however, many businesses fail to maintain their operations in the long run. Based on this issue, this study explores the depth of understanding and knowledge of MSME business owners in Ilocos Norte, Philippines, regarding compliance with Financial Accounting Standards (FAS) and Financial Management Practices (FMP). Additionally, it seeks to determine the relationship between FAS and FMP and the success of businesses. The methodology used was a descriptive and correlational design. The data was gathered from 379 MSMEs through a survey questionnaire. A 4-Likert scale was used to analyze and interpret the results. Also, researchers used the International Business Machines Statistical Package for the Social Sciences (IBMSPSS), specifically regression analysis, to correlate the financial performance of the MSMEs to their financial management practices and compliance with the financial accounting standards. The study revealed that micro, small, and medium enterprises (MSMEs) in Ilocos Norte maintain a moderate level of implementation of financial management practices and compliance with financial accounting standards, concentrating on the Statement of Comprehensive Income. The study also revealed a significant relationship between financial management practices, compliance with financial accounting standards, and business performance, leading to success. It is justified that effectively and efficiently managing financial matters can contribute to the enhancement of business performance.

Effects of Human Resource Management Practices on Corporate Entrepreneurship at a State Agency in South Africa

Aluwani Nthangeni, Marcia Lebambo — Tue, 30 Jul 2024 00:00:00 +0700

Organisations face rapid changes brought about by economic, political, social and technological changes. These changes compel organisations to review their business strategies and turn to CE as an ultimate source of competitive advantage. Furthermore, the human resource management (HRM) function is crucial in formulating competencies and supporting organisations in achieving their strategic objectives. This study sought to determine the effects of HRM practices on CE at a South African state-owned agency. The study adopted a qualitative single case study design using semi-structured interviews through Microsoft Teams. A purposive sample of nine top management and human resources employees participated in the study. The interviews were recorded and subsequently analysed using ATLAS.ti 23. The study shows that three HRM practices, namely, recruitment and selection, training and development, and performance appraisal, positively affect the adoption of CE at the North West Development Corporation (NWDC) in South Africa. The study provides practical guidance on how state agencies can effectively invest and promote entrepreneurial behaviour for optimal performance. The study contributes to the body of knowledge by proposing a revised conceptual framework for increasing CE in HRM systems for internal innovation performance by incorporating HRM practices. This framework includes HRM practices such as job design, recruitment, training, performance appraisal, and compensation. Furthermore, the study introduces organisational development as a strategic contributor to the successful implementation of this framework.

Unveiling the Nexus of Distribution Personalization and Content Decentralization: Exploring Brand Recall among Gen Z in Region III, Philippines

Josephine Diana S Campos, Jofrey R Campos — Tue, 30 Jul 2024 00:00:00 +0700

The study emphasized the pivotal role of distribution personalization, mediated by content decentralization, in influencing brand recall among Gen Z consumers, highlighting the importance of advanced data analytics, optimized distribution channels, user-generated content incorporation, and user-centric storytelling for effective brand engagement in the modern market. This research studied the effects of distribution personalization and content decentralization on brand recall among Gen-Z, focusing on causal relationship and the issue of attention competition. It used Partial Least Squares Structural Equation Modeling to analyze 385 responses from Region III, Philippines Gen Z participants. The results indicate that personalized distribution has direct influence on brand recall through an ability to remember brand features amid consumer attention competition. Content decentralization partially mediates this effect, suggesting challenges in maintaining consistent brand identity across diverse platforms. The research underscores the importance of distribution personalization in brand recall, highlighting how content decentralization and variety of content across platforms can dilute brand consistency and hinder Gen Z's brand recall. These suggest centralizing content from a single source to ensure uniformity in branding while also using advanced analytics for targeted personalization. The study recommends optimizing distribution channels and incorporating user-centric storytelling to enhance brand association. Researchers need to continuously analyze consumer trends and feedback to refine distribution personalization strategies and stay responsive to changing market conditions. Content decentralization makes it difficult to reach and engage with the entire audience effectively, as they may be spread out across numerous channels, thus future researchers may look into this aspect.

The Strategic Effect of Hedonic and Utilitarian Value in Building Brand Trust and Brand Satisfaction

Francis Osei, Joyce Dankwah Owusu, Collins Kankam-Kwarteng — Tue, 30 Jul 2024 00:00:00 +0700

Customer value, divided into hedonic (emotional) and utilitarian (functional) dimensions, is crucial for competitive advantage, prompting the need for research in diverse contexts. Existing literature highlights the strategic importance of balancing these values to enhance brand trust and satisfaction, yet the cosmetics industry in Ghana remains underexplored. This study gathered data from 200 cosmetic product users in Ghana and used structural equation modelling to analyze the relationships between hedonic and utilitarian values, brand trust, and brand satisfaction. The findings indicate that hedonic values do not significantly affect brand trust or satisfaction, while utilitarian values are key drivers of both. Brand trust positively influences brand satisfaction but does not mediate the relationship between hedonic values and satisfaction. However, brand trust mediates the connection between utilitarian values and satisfaction. These insights are valuable for scientists studying consumer behaviour and for marketers aiming to meet customer expectations more effectively. This study, among the first of its kind in Ghana, underscores the strategic importance of utilitarian values in building brand trust and satisfaction in the cosmetic industry. Limitations include a single geographic focus and industry, suggesting future research should explore other contexts and include variables like brand loyalty and socioeconomic status to enhance understanding.

Navigating Uncharted Territory: A post Covid-19 Exploration of the Resilience of Women Owned Small Businesses in the Wake of the Pandemic

Gift Donga, Tendai Chimucheka — Tue, 30 Jul 2024 00:00:00 +0700

Resilience has long been acknowledged in the literature as a crucial aspect of the entrepreneur's character and personality. Additionally, it is acknowledged as a vital component of the entrepreneurial process that propels businesses to great outcomes. However, to the researchers’ knowledge, there remains limited understanding regarding how women-owned small businesses in South Africa withstand and function during challenging social and economic crises like the COVID-19 pandemic. In the post-modern period we live in today, women will inevitably play an important part in business and economic development, and they are eager to become involved and make a difference in their communities. The COVID-19 pandemic has intensified the challenges faced by female entrepreneurs in growing their businesses. This research focuses on investigating how resilient South African women entrepreneurs have been in response to the pandemic. Drawing from resilience theory, the study employed a qualitative approach to gather and analyze data from a group of 15 women entrepreneurs based in the Eastern Cape Province of South Africa, using thematic analysis. The following four themes emerged from the findings; business agility; optimistic outlook; leveraged digital technology; and business networks. This research enhances existing resilience theory by integrating fresh insights gathered from the resilience strategies employed by female entrepreneurs in times of crisis. Results from the study are also expected to contribute to sustaining South African women owned small businesses and empowering their resilience, despite adversities.

Small Business Development Strategy Through Go Digital in The Martapura Snakehead Fish Floss Business as a Regional Superior Product

Nurul Wahyuni, Siti Rusidah — Tue, 30 Jul 2024 00:00:00 +0700

The presence of superior products in a region can significantly boost economic development. In Martapura City, Indonesia, the fisheries and marine sector, supported by a substantial supply capacity, holds potential as a driver of economic growth. A notable example is the snakehead fish processing business, which taps into the region's resources. This research aims to analyze the potential of this business and formulate strategies for developing Snakehead Fish Floss in Martapura through digital marketing. This research uses a qualitative approach with in-depth observation, where primary data was obtained through structured interviews with snakehead fish shredded business actors in Martapura. The research results found that the business potential for snakehead fish floss is very large because there is rarely any difficulty obtaining raw materials. Preparedness and consistency are needed in implementing marketing digitalization in small businesses, and the benefits of digitalization are felt realistically by snakehead fish floss business actors, increasing sales. The results of this research can be generalized to other small businesses because advances in digital technology cannot be avoided at this time.

Unlocking Potential: Digital Transformation and Decision Support in Automotive Repair - A Case Study

Natalia Natalia, Pri Hermawan — Tue, 30 Jul 2024 00:00:00 +0700

In today's rapidly evolving business landscape, the significance of digital transformation for Small and Medium-sized Enterprises (SMEs) cannot be overstated. CV Karya Makmur, an Indonesian automotive repair shop, stands at the forefront of this change, recognizing the urgent need to incorporate advanced Information and Communication Technologies (ICTs) into its operations. This transformation is not just about adopting new technologies; it is a comprehensive shift that redefines how the business interacts with customers, optimizes operational processes and improves its overall financial health. The journey of CV Karya Makmur highlights the broader implications of digital transformation in this sector. This case study delves into the multifaceted process of integrating technologies such as augmented reality (AR) and artificial intelligence (AI) to enhance service efficiency, tackle logistical hurdles, and improve access to vital information. Yet, the transition from conventional practices to a digital framework is fraught with obstacles, primarily due to resistance to change. Effective change management, focusing on the human elements of organizational transformation and employee engagement, is pivotal. CV Karya Makmur's experience underscores the critical need for digital systems that promote data-driven decisions, standardize operations, and facilitate better communication. Despite the initial challenges, the potential benefits—increased productivity, reduced operational costs, and a competitive edge in the market—are compelling. This study suggests that considering an organization's unique context and objectives, a tailored digital transformation strategy is essential for leveraging technology to enhance business outcomes in developing countries like Indonesia.

Formulation of Hydroponic Green Vegetable Marketing Strategies in Indonesia as An Effort to Enhance Competitiveness

Lati Sari Dewi — Tue, 30 Jul 2024 00:00:00 +0700

This comprehensive analysis focuses on crafting effective marketing strategies for hydroponic vegetables and fostering future development within the industry. Employing a SWOT analysis and adopting a holistic marketing approach, the goal is to create strategies that not only capitalize on strengths but also address weaknesses, seize opportunities, and mitigate threats. These strategies aim to empower industry producers by aligning with integrated economic benefits, ensuring their sustained success. The outcomes of this strategic analysis will serve as invaluable references for promoting hydroponic vegetables. The industry can showcase its sustainability and quality by leveraging strengths such as efficient resource utilization and controlled environments. Addressing weaknesses like public perception challenges and potential high start-up costs will be crucial in developing a well-rounded approach. Seizing opportunities in the growing demand for fresh, locally sourced produce and the increasing interest in sustainable agriculture, the strategies will position hydroponic vegetables as a forward-looking choice. Simultaneously, mitigating threats like market competition and regulatory hurdles will be integral to long-term viability. In essence, the resulting strategies aim to create a resilient marketing framework that promotes hydroponic vegetables and contributes to the overall economic prosperity of industry producers.

Analysis of Cash Flow and Net Income on Stock Prices in Mining Companies in Indonesia

Chindy Anggraeni Luthfihani, Se Tin — Tue, 30 Jul 2024 00:00:00 +0700

Information about a company's cash flow and net income is useful for readers of financial statements, especially investors, as a basis for analysing the company's ability to create profits because investors must see the stock price when making an investment. Based on these considerations, this study aims to examine the effect of cash flow and net income on stock prices in mining companies in Indonesia. The population of this study consisted of 19 companies, and a sample of 36 financial records from three coal mining companies was used using a purposive sampling technique. The author uses a multiple linear regression analysis method. The results showed that net income significantly affects stock prices, while cash flow has no significant effect individually. However, when considered together, both cash flow and net income influence stock prices. This study provides valuable insights for future investors and researchers by recommending sample expansion, a more in-depth literature review, and diverse research methods.

Can Digital Orientation Assist Digital Marketing and E-Payments Perform Better for MSME Performance in Indonesia?

Oki Sudrajat, Lela Nurlaela Wati, Abdul Mukti Soma — Tue, 30 Jul 2024 00:00:00 +0700

Rapid development in the perfume industry has been accompanied by accelerated digitalization, which was unexpected by most Micro, Small and Medium Enterprises (MSMEs). Many MSMEs in this sector experience problems with access and knowledge of digital technology, especially in digital marketing and e-payment. Most MSME players are still learning and are slow to adopt digitalization in their perfume business. This research aims to analyze the influence of digital marketing, e-payment and digital orientation on the performance of perfume MSMEs in West Java Province. A sample of 100 respondents, company owners or managers, was selected using stratified sampling. Data analysis uses Structural Equation Modeling (SEM) and Moderated Regression Analysis (MRA). The results show that digital marketing and digital orientation have a positive and significant effect on MSME performance, while e-payment does not have a significant effect. Digital orientation also negatively and insignificantly moderates the influence of digital marketing and e-payment on MSME performance. Perfume MSMEs are advised to consider the role of digital orientation and optimize digital marketing strategies to improve their business performance.

Entrepreneurial Marketing and Performance of Small and Medium Scale Enterprises in Akwa Ibom State

Samuel G Etuk, Nse-Obong Augustine Udoh, Nfawa Erasmus Usani — Tue, 30 Jul 2024 00:00:00 +0700

Entrepreneurial marketing has become increasingly popular in the fields of entrepreneurship and marketing, as well as among organizations aiming to obtain a competitive edge. In practice, small and medium-sized enterprises (SMEs) in Akwa Ibom State, Nigeria, generally see entrepreneurial marketing as an appealing and efficient marketing strategy motivated by the desire to make the most of their unique strengths. These SMEs are involved in the sale of products and services. This study aimed to investigate the influence of entrepreneurial marketing on the performance of small and medium-scale enterprises in Akwa Ibom State. The sample size for the study was 400, determined using the Taro Yamane formula. The proxies for entrepreneurial marketing were considered jointly as customer orientation, entrepreneurial orientation, and innovation orientation. The researchers adopted a survey research design. A structured questionnaire was designed to obtain data from 400 SME owners. We also adopted a simple random technique for this study. We tested the combined hypothesis using multiple regression analyses. The study revealed a significant influence of customer orientation, entrepreneurial orientation, and innovation orientation on the performance of small and medium-scale enterprises in Akwa Ibom State. In conclusion, this study empirically provides evidence of the influence of entrepreneurial marketing on SME performance. SMEs can improve their performance by embracing the entrepreneurial marketing philosophy. Based on these conclusions and findings, the researchers recommended that SMEs in Akwa Ibom State improve their customer orientation to understand their customers better.

Breaking Barriers: A Comprehensive Study on Financial Literacy Impacting Women Entrepreneurs' Financial Behavior

Angelica Y Dangcil, Mary Alexia A Ruiz, Mary Rose R Mateo, Jessica A Alejo — Tue, 30 Jul 2024 00:00:00 +0700

Several studies have shown that financial literacy is crucial in the business world. Those who are more financially literate tend to manage debt and investment better. Hence, financial literacy is paramount for entrepreneurs, particularly women entrepreneurs, to assist them in their daily transactions. The study explores the link between financial literacy and financial behaviour among women entrepreneurs in Ilocos Norte, Philippines. The study employed a quantitative research design and analyzed survey data collected from 377 women entrepreneurs using structural equation modelling to explore the relationship between financial literacy and financial behaviour. The data collected revealed that women entrepreneurs have sufficient financial literacy. Furthermore, the findings showed that financial behaviour is positively influenced by financial literacy, as demonstrated by linear regression analysis.