Entrepreneurial Resilience to Innovate and its impact on the Performance of Micro and Small Entreprises: A Proposed Framework

Teuku Sidhi Adisatya

Entrepreneurial Resilience to Innovate and its impact on the Performance of Micro and Small Entreprises: A Proposed Framework

Keywords : Resilience, Innovation, performance


Abstract

To achieve success in managing micro and small businesses, entrepreneurs must have several characteristics, one of which is resilience. Resilience is a characteristic of entrepreneurs who always monitor the environment to anticipate any changes and develop strategies on how to adapt or turn changes into opportunities. Entrepreneurs of springy power have the ability to innovate in the form of product innovation, process, organization, marketing methods, etc. by utilizing limited resources. The results of the innovations carried out are in the form of product modifications, changes in services to consumers and changes in product prices that are in accordance with changes in consumer behavior and lead to the provision of consumer satisfaction. The innovation output produced by micro and small companies that leads to customer satisfaction can improve performance in the form of increasing market share, sales and profits.

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