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http://dx.doi.org/10.13106/jafeb.2021.vol8.no12.0455

Factors Affecting Business Performance: An Empirical Study of the Creative Industry in Semarang, Indonesia  

HIKMAH, Hikmah (Management Department, Faculty of Economics and Business, Universitas 17 Agustus 1945 Semarang)
RATNAWATI, Andalan Tri (Accounting Department, Faculty of Economics and Business, Universitas 17 Agustus 1945 Semarang)
DARMANTO, Susetyo (Management Department, Faculty of Economics and Business, Universitas 17 Agustus 1945 Semarang)
Publication Information
The Journal of Asian Finance, Economics and Business / v.8, no.12, 2021 , pp. 455-463 More about this Journal
Abstract
The creative industry has an important role in economic development, but creative economy entrepreneurs still face many problems in business development and sustaining their businesses. The purpose of the study is to investigate the effect of entrepreneurship orientation, innovative product advantages, and social network quality on business performance to help companies stay competitive. The research uses a quantitative approach with the population being the owner of the creative industry in Semarang City, Central Java, Indonesia. The sampling technique used is convenience sampling, obtained as many as 126 creative industry owners. Data was analyzed using Structural Equation Modeling Partial Least Square (SEM-PLS). The findings of this study show that entrepreneurial orientation, innovative product advantage, and social network quality have a positive effect on the business performance of the creative industry in Semarang City, Central Java, Indonesia. According to the study, a company with superior resources can win the competition and achieve business sustainability. When compared to competing organizations, the benefits of resources and competitive ability will create a competitive edge. As a result, stakeholders such as the government, the corporate sector, and universities are expected to play a larger role in accelerating the growth and development of creative industries.
Keywords
Entrepreneurship Orientation; Innovative Product Advantages; Social Network Quality; Business Performance;
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