Pivot Strategy in Entrepreneurship: Strategy of Managing Business During Coronavirus Pandemic
Abstract
The spread of the Corona Virus in Indonesia has an impact on changes in various aspects of life, including the economic sector. Pivot strategy is a strategy to change the business model to survive even in difficult times. This study aims to (a) analyze the impact of the Covid 19 pandemic on the sustainability of Micro, Small and Medium Enterprises (MSMEs) (b) analyze the strength, weakness, opportunity and threats (SWOT) factors to determine the business position of MSMEs (c) develop a MSME business Pivot strategy to survive the pandemic. This type of research is applied, which provides practical alternative solutions to certain problems faced by research subjects. The research subjects are MSMEs in Tulungagung district, East Java, which are engaged in food and crafts. The research instruments were interview guides, observation sheets and documentation. The results showed that (1) the impact of the pandemic on MSMEs was a 40% decrease in sales (2) based on the results of the SWOT analysis showed that the position of MSMEs in Tulungagung district was aggressive, meaning that it had the potential to survive even during the pandemic. MSME managers have a fairly good ambidexterity ability, so they are able to develop pivot strategies to stay afloat during the pandemic. (3) The pivot strategy created by MSMEs in Tulungagung district does not only depend on local government assistance but is also self-reliant.
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DOI: http://dx.doi.org/10.18415/ijmmu.v8i9.3200
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