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This study aims to understand the performance of SME’s product innovation by relating it to the foresight concept of SME owners or managers and the moderating effect of competitive intensity. It employs a quantitative research method by using a survey. This paper studies SMEs from the West Java Province of Indonesia in three industrial sectors: foo...
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... this study aims to provide insight into the survival and resilience of SMEs in facing the intensity of business competition by focusing on the role of product innovation, which is influenced by foresight capabilities (Figure 1). This paper uses various predetermined characteristics of SMEs from West Java, Indonesia. ...
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... American researcher Ben Martin provided another good formulation, defining foresight as systematic attempts to assess the long-term prospects of science, technology, economy, and society to identify strategic research directions and new technologies that can bring the greatest socio-economic benefits [31]. The application of foresight has gradually changed from technological, market-oriented [32,33] to socio-economic [34][35][36] and strategic [37][38][39][40][41][42], i.e. integrated into the system of strategic management of a certain object. ...
The emergence of the concept of sustainable development of society has prompted the search for national approaches to its management. The application of energy potential by individual countries as a tool of political influence requires a review of the approaches to analyzing the state of affairs in the field of energy security and scientific justification of strategic scenarios for maintaining the trajectory of sustainable development. The goal of the article is the further development of the model for analyzing a specific area of management in the security dimension and the methods of strategizing the development of such an area – scientific and strategic foresight for the development of strategic scenarios for post-war recovery using the example of Ukraine's energy security. To achieve the research goal, the concept of sustainable development in the security dimension was used, which includes the methodology for identification and strategizing based on the new principle “the trajectory towards a future determines the future” through solving the inverse problem of decomposing integral indices using adaptive regulation methods from control theory. The methods of integral evaluation, stochastic methods for determining the boundaries of safe existence (applied systems theory, t-test methods, cluster analysis), determination of dynamic weighting coefficients using principal component methods and sliding matrices, decomposition of integral indices, and denormalization of indicators in natural units of measurement are also applied. A model of energy security has been developed, which includes seven components and 47 indicators, including shadow indicators. The analysis concept involves first studying each individual component within a unified whole, followed by analyzing energy security as a whole – an identification stage for the current level of security. Subsequently, the sustainable development trajectories are built towards the defined goals, and the whole is decomposed into components that ensure the achievement of the set goals – strategizing. The elements of scientific novelty in scientific and strategic foresighting technology are formulated, which operate in the following modes: structural evolution, projected structural transformation – rapid structural transformation, and balanced sustainable development. The mechanism for regulating the speed of structural restructuring through the regulation of constraints has been identified. Within these modes, models for the development of Ukraine's energy sector in the post-war period have been developed and studied: evolutionary development, green transition, and energy supply resilience for consumers.
Keywords: scientific and strategic foresight, indicators, thresholds, integral index, identification, strategizing, sustainable development, energy security
... Intense competition is indeed a factor that drives operational efficiency and improves production in businesses. In a fiercely competitive environment, if businesses do not respond quickly in the competitive race, they may face many disadvantages that lead to unfavourable business results (Manalu et al., 2023). During the COVID-19 pandemic, when resources become scarce and face numerous impacts, firms must confront many challenges and require change to survive. ...
Objective: The article aims to investigate the influence of strategic orientation (specifically market orientation, entrepreneurial orientation, and digital orientation) on small and medium-sized enterprises’ performance during the COVID-19 pandemic. Research Design & Methods: We surveyed 265 small and medium-sized enterprises and employed structural equation modelling (SEM) to test the hypotheses developed. Findings: Research results show that during the COVID-19 pandemic, while market orientation and digital orientation had a direct positive impact on business performance (ß= 0.230, p < 0.05 and ß= 0.236, p < 0.05, respectively), entrepreneurial orientation did not (ß= -0.038 and p > 0.05). Moreover, competitive advantage mediated the relationship between entrepreneurial orientation (indirect effect = 0.102) as well as market orientation and business performance (indirect effect = 0.046). However, this did not apply to the indirect relationship between digital orientation and performance. Finally, competitive intensity positively moderated the influences of market orientation and digital orientation on business performance. Implications & Recommendations: Based on the research findings, the study has provided SMEs with some implications to assist them in improving business performance. These consisted of the concentration on customers, competitors, and the development of an internal management information system. Moreover, during the COVID-19 pandemic, the understanding and application of digital orientation were essential. The competitive advantage of SMEs maximises when the enterprise orients toward entrepreneurial activities. Contribution & Value Added: Our study contributes to the strategic management of SMEs by investigating the influences of strategic orientation on business performance. The study also expands its scope by examining the mediating and moderating role of competitive advantage and competitive intensity, respectively.
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... Foresight capability provides a view of business situations that continue to fluctuate and may impact their superior position and cause a decrease in their competitive advantage (Kononiuk and Sacio-Szymańska, 2015). Good foresight capability will improve SMEs' innovation performance (Manalu et al., 2023). In line with AlMujaini et al. (2021), the company's corporate foresight can influence innovation performance. ...
... Previous research supports leveraging foresight capabilities to strategically benefit MSMEs innovation performance (AlMujaini et al., 2021;Manalu et al., 2023). Slaughter (1996) explains that foresight is a strategy for predicting future events based on data sources they have currently and in the past. ...
... Each dimension will be explained into indicators where foresight capability consists of ten indicators: three networking, four-time horizon, and three analyzing indicators. Foresight capability indicator items refer to (Manalu et al., 2023;Nyuur et al., 2015;Paliokaitė et al., 2014); three digital transformation indicators refer to (Bley et al., 2016;Teng et al., 2022) and three innovation performance indicators (Agostini et al., 2017). The structural equation modeling (SEM) approach used in this research is a method for establishing, estimating, and testing causal relationship models. ...
This study aims to examine the relationship of foresight capability to the innovation performance of SMEs by using digital transformation as a mediating variable. This study uses a quantitative research method. Data collection was carried out through a structured offline questionnaire. The technique of determining the sampling is done by using purposive sampling. The population in this study were SMEs originating from the West Java region, with a total of 187 questionnaires collected. This research uses structural equation modeling (SEM) to test the hypothesis. This study proposes ten hypotheses, of which seven direct effect hypotheses and three hypotheses test the mediating effect. The study's results found that foresight capability can affect product innovation performance. The effect of foresight capability (network and analysis) can affect digital transformation, but the time horizon cannot affect digital transformation. Digital transformation can affect the performance of MSMEs product innovation. This study found that digital transformation can partially mediate network relationships and analysis on product innovation performance and cannot mediate time horizon relationships on product innovation performance. The findings of this study enrich the foresight literature, digital transformation, and innovation performance of MSMEs products.
... With the rapid development of the business environment, companies are expected to be able to compete with competitors. To survive in the cutthroat competition, companies must be more innovative with their products (Manalu et al., 2023). Unlike large companies, MSMEs face hypercompetitiveness, characterized by volatility, uncertainty, complexity, and ambiguity (VUCA) (Semke & Tiberius, 2020). ...
... This research will use the concept of foresight, which is linked to the product innovation performance of MSMEs. The ability of MSMEs to predict future events is needed to compete in an uncertain business environment (Manalu et al., 2023;Rastegari et al., 2020). The information they get from various parties will help develop future product innovation. ...
... MSMEs can focus on daily business activities; they can support integrating external knowledge into developing innovation. Several previous studies have tried to link foresight with SME innovation performance (Manalu et al., 2023;Milshina & Vishnevskiy, 2018). AlMujaini et al. (2021), in their research examining the influence of foresight on SME innovation, were found to have a positive and significant effect. ...
MSMEs have become the foundation for growth in various countries, including Indonesia. Especially in West Java, MSMEs play an essential role in absorbing labour. However, MSMEs in West Java face an uncertain business environment and difficulties in creating products that suit market needs. This research will use the Resource Based View (RBV) and Dynamic Capability View (DCV) theories. This research examines the influence of entrepreneurial orientation on the innovation performance of MSMEs by using foresight capabilities as a mediating variable. 245 MSMEs were collected as respondents to fill out the survey questionnaire. The MSMEs used in this research are from West Java, with the main characteristics of operating for more than one year and developing new products for at least two years. Structural equation modeling (SEM) was used to test the research framework. It was found that entrepreneurial orientation can influence the innovation performance of MSMEs positively and significantly. The influence of foresight capabilities on MSME product innovation performance has a positive effect. The mediating effect of foresight capabilities on the relationship between entrepreneurial orientation and product innovation performance was partially mediated. MSMEs that behave more entrepreneurially benefit from being more proactive, innovative, and risk-taking in an uncertain market environment. Product innovation can be achieved through a good understanding of entrepreneurial orientation mediated by an understanding of Foresight to process information for future decisions. Finally, managerial and theoretical implications and future research are presented.
Amid the fundamental overhaul in European economies and societies, Small and Medium-sized Enterprises are crucial for charting the future of economies. Indeed, SMEs have been the backbone of all businesses in the EU as they make up more than 99% of them and have a long history of promoting innovation, providing employment opportunities, and contributing to economic growth. The SME’s strategic management and adaptability power guarantee this, vital to creating the economic and social landscape for the emerging European future. This chapter is dedicated to the critical importance of strategic foresight in connection with SMEs. Proactivity through economic sense is the best policy for both the current development state and SMEs' future contribution to the European economic-social order. This chapter employs economic theories and practices while recognizing SMEs’ natural characteristics to advance that future consciousness needs to be made explicit through foresight and isolation from risks and opportunities arising from an ever-changing jurisdiction of the economy. The chapter goes beyond the sustainability and innovation issues at the level of enterprises to consider the SME strategies in influencing economic structures, employment sectors, and societal realities with the EU. This chapter combines both to propose an SME’s adherence to future consciousness to ensure resilience and socio-economic relevance in fostering a thriving EU. The fit is consistent with aligning SME strategic pursuits in the broad European economic-social fabric.
This study aims to determine the influence of entrepreneurial orientation and market orientation on marketing performance through competitive advantage. Respondents in this study were the perpetrators of fries onion IKM, which totals to 35 respondents. The sampling technique is saturated sampling. The path method was employed for the data analysis and the type of research is quantitative method using SPSS 23.0 program. The study result showed that: There is a positive and significant influence of entrepreneurial orientation on competitive advantage, there is a positive and insignificant impact of market orientation on competitive advantage, there is a positive and significant influence of entrepreneurial orientation on marketing performance, there is a positive and insignificant effect of market orientation on marketing performance, there is no impact of competitive advantageon marketing performance, there is no mediating effect among entrepreneurial orientation on marketing performance using competitive advantage, there is no mediating impact among market orientation on marketing performance using competitive advantage.
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