Corresponding Author: Upit Elya Rahimi
E-mail: [email protected]
INTRODUCTION
The current
business era is characterized by technological changes, dynamic global markets,
and increasingly intense competition (Ridwani et al., 2023). These changes demand companies to adapt quickly to maintain a
competitive position in the ever-changing market. Companies face pressure to
achieve sustainable performance (Yu et al., 2023). This not only involves revenue and profit growth but also
sustainability in maintaining an advantage in the continuously evolving market.
The
development of Strategic Entrepreneurship is closely related to the evolution
of business and entrepreneurship theories. In recent decades, there has been a
paradigm shift from a narrow focus on creating new businesses towards a broader
concept � integrating entrepreneurship into existing business strategies (Arifin & Arini, 2023). Traditional entrepreneurship mostly focuses on creating new
ventures without considering the long-term implications of business strategy.
However, Strategic Entrepreneurship offers a deeper perspective, viewing
entrepreneurship not only as an action of creating new businesses but also as a
strategy applied by organizations to achieve sustainable competitive advantage (Dogan, 2015).
Modern
businesses face various challenges, including intense competition, rapid
technological changes, and evolving consumer needs (Budiarti, 2023). Sustaining a competitive advantage becomes crucial for
organizations to maintain their superior positions in the market. As
micro-scale Small and Medium-sized Enterprises (UMKM) in West Sumatra often
need more work experience and personal skills (Nugraheni et al., 2019), it becomes challenging for them to survive. With the growing
business and complex challenges in the market, UMKM is required to have
innovative strategies to adapt and the ability to change (Aisyah et al., 2022).
Strategic
Entrepreneurship becomes increasingly important as businesses face a constantly
changing environment. Technological changes, fluctuating market demands, and
high competition levels drive organizations to be more responsive and
innovative in facing these challenges (Sabilla, 2023).
As a concrete
example, CV Mutiara, a company operating in a specific sector, faces similar
challenges in maintaining its competitive advantage. In dealing with intense
competition and rapid technological changes, CV Mutiara needs to apply the
principles of Strategic Entrepreneurship to identify new opportunities, enhance
the competitiveness of its products or services, and create innovations that
differentiate it from competitors. Flexibility and creativity are key in facing
the dynamic market dynamics.
In this
context, CV Mutiara can develop innovative strategies, enhance collaboration
with external parties, and improve internal innovation capabilities. This way,
CV Mutiara can sustain its competitive advantage, face market challenges, and
remain relevant in a dynamic business environment.
The concept
of Strategic Entrepreneurship emphasizes the importance of innovation in
business strategy. This includes the introduction and implementation of
innovation in products, services, processes, and overall business models,
aiming to create long-term competitive advantages. Strategic Entrepreneurship
provides a foundation for organizations to adopt a more dynamic approach to
strategic decision-making. By focusing on the strategic aspects of
entrepreneurship, organizations can be more adaptive to market changes and
create sustainable added value (Salwa & Nasution, 2024).
The novelty
of this research lies in the holistic approach to the concept of Strategic
Entrepreneurship in the context of modern business, especially on the
micro-scale of UMKM in West Sumatra. Some distinguishing aspects of this
research include a focus on the Sustainability of Micro-scale UMKM Competitive
Advantage: This research not only highlights the importance of Strategic
Entrepreneurship in facing changes in the business environment but specifically
focuses on the sustainability of competitive advantages for micro-scale UMKM.
This significantly contributes to understanding how the concept of Strategic
Entrepreneurship can be adapted and effectively applied in smaller businesses
with limited resources. Additionally, Concrete Case Study of CV Mutiara: The
use of CV Mutiara as a concrete case study provides a practical and in-depth
dimension to this research. A detailed analysis of the challenges faced by CV
Mutiara in maintaining its competitive advantage adds value to this research by
providing direct insights into the implementation of Strategic Entrepreneurship
principles in the real world.
The main objective of this research is to understand and analyze
the impact and contribution of Strategic Entrepreneurship to the sustainability
of competitive advantage in the context of modern business. This study aims to
provide a deeper understanding of how the principles of Strategic
Entrepreneurship can be adopted and implemented by organizations to enhance
their competitiveness in the ever-changing market. Therefore, the expected
outcomes of this research are intended to offer guidance and a useful framework
for business leaders, decision-makers, and other stakeholders in developing
adaptive, innovative, and sustainable strategies within the dynamic context of
modern business.
METHOD
This research employs a descriptive qualitative method, meaning it analyzes
and vividly describes the issues based on a literature review (library
research) with a metaphysical realism approach. The data sources for this
research consist of secondary data, including journals, online newspapers,
websites, and literature books related to Strategic Entrepreneurship and
Competitive Advantage, from both domestic and international sources.
Qualitative data analysis involves three concurrent activities: categorization,
data reduction, data presentation, and conclusion drawing or verification (Miles & Huberman, 2016).
RESULTS AND
DISCUSSION
This research
provides a profound insight into how the influence of Strategic
Entrepreneurship impacts competitive advantage in the context of modern
business. The analysis conducted in this research indicates that the
application of Strategic Entrepreneurship principles has a significant positive
impact on an organization's ability not only to sustain but also enhance its
competitive advantage amid the dynamic challenges of the business environment (Listiana et al., 2023).
Strategic
Entrepreneurship, focusing on the integration of entrepreneurship into business
strategy, provides a strategic foundation for organizations (Kristina & Sahay, 2019). This approach allows organizations to be more responsive to
market changes and create sustainable added value. The development of
innovative strategies is key, where organizations are not only pursuing changes
but also creating new opportunities that differentiate them from competitors.
Furthermore,
collaboration with external parties and the enhancement of internal innovation
capabilities are essential aspects of implementing Strategic Entrepreneurship.
Through collaboration with external parties, organizations can access
additional resources and knowledge, while the improvement of internal
innovation capabilities ensures sustainability in creating creative solutions (Sunarni, 2023).
CV Mutiara
provides concrete evidence of how the implementation of Strategic
Entrepreneurship principles significantly contributes to the company's
competitive advantage. CV Mutiara's ability to adapt to market dynamics and
create innovations that differentiate it from competitors is a tangible result
of the applied Strategic Entrepreneurship strategy. This proves that this
approach is not only conceptual but can also be successfully implemented in
everyday business life.
Overall, this
research strengthens the understanding of how organizations can leverage
Strategic Entrepreneurship principles to enhance their competitive advantage in
the face of the complexity and uncertainty of modern business.
This research
covers crucial aspects of implementing Strategic Entrepreneurship as a business
approach that leads to organizational adaptation and resilience in a
continuously changing business environment. The focus is not only on creating
new ventures but also on long-term strategic planning that can achieve
sustainable competitive advantage.
In the
dynamic context of modern business, the sustainability of competitive advantage
becomes crucial. Intensive competitive challenges, rapid technological changes,
and the evolution of consumer needs require a more holistic and adaptive
approach. This research provides a deep understanding of how organizations can
integrate Strategic Entrepreneurship principles into their business strategies
to create innovation, collaborate with external parties, and enhance internal
innovation capabilities.
The case
study of CV Mutiara gives a concrete picture of the implementation of strategic
entrepreneurship principles when facing competition and technological changes.
Flexibility and creativity are key factors in ensuring the sustainability of
the company's competitive advantage (Ong & Mahazan, 2020). This indicates that in the dynamic business world, organizations
need the ability to adapt quickly and generate innovative ideas.
The results
of this research provide valuable guidance for business leaders and
decision-makers. They can use the research findings to develop strategies that
are adaptive, innovative, and sustainable. Adopting the principles of Strategic
Entrepreneurship can help organizations not only survive amidst changes but
also become leaders in creating new opportunities and winning competition (Zhao et al., 2020). With continuous changes in the business environment, this
research makes a significant contribution to understanding how organizations
can remain relevant and successful.
CONCLUSION
The
conclusion of this research indicates that the implementation of Strategic
Entrepreneurship has a significant positive impact on the adaptation and
sustainability of organizations in a continuously changing business
environment. By focusing not only on creating new ventures but also on
long-term strategic planning, organizations can achieve sustainable competitive
advantages. The implications of this research suggest that organizations adopt
a more proactive approach to innovation and strategic development. While
creating new ventures remains important, the research shows that a focus on
long-term strategic planning also makes a significant contribution to the
adaptation and sustainability of organizations.
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