REVITALIZING MSMES : AN EXAMINATION OF BUSINESS STRATEGY, INNOVATION AND ACCOUNTING INFORMATION SYSTEMS FOR IMPROVED PERFORMANCE
Keywords:
Business Strategy, Innovation, Accounting Information System, MSME Performance
Abstract
Micro, small, and medium enterprises (MSMEs) are essential for economic growth globally. However, they often face problems like unclear business plans, a lack of innovation, outdated accounting systems, and difficulty adapting to changes in the business world. These challenges lead to poor financial management and limited access to the right financial information. To overcome these problems, it’s important for MSMEs to create clear business strategies, encourage innovation, improve their accounting systems, and become more adaptable to changes. As a result, MSMEs will perform better and contribute more to the local economy. This study examines the effect of business strategy, innovation, and accounting information systems on MSME performance in Kudus Regency, using a sample of 391. The results showed that business strategy, innovation, and accounting information systems partially positively affected the MSME performance. Innovation, as a moderation variable, is able to strengthen the effect of business strategy on MSME performance. However, the results also show that accounting information systems have not been able to moderate the effect of business strategies on MSME performance. This research provides valuable insights for MSMEs, highlighting the importance of developing and executing suitable business strategies, promoting innovations, and establishing effective accounting information systems to improve performance.
References
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Badri, M. A., Davis, D., & Davis, D. (2000). Operations strategy, environmental uncertainty and performance: a path analytic model of industries in developing countries. Omega, 28(2), 155–173. https://doi.org/10.1016/S0305-0483(99)00041-9
Bank Indonesia. (2020). PROFIL BISNIS USAHA MIKRO, KECIL DAN MENENGAH (UMKM) KERjASAMA LPPI DENGAN BANK INDONESIA TAHUN 2015.
Bellamy, L. C., Amoo, N., Mervyn, K., & Hiddlestone-Mumford, J. (2019). The use of strategy tools and frameworks by SMEs in the strategy formation process. International Journal of Organizational Analysis, 27(2), 337–367. https://doi.org/10.1108/IJOA-02-2018-1363
Bernardino, L., Figueiredo, P., Jesus, A., & Filho, F. (2022). Do Investments in Innovation and Quality Management Systems Ensure Superior Financial Performance? A Quantitative Study of Brazilian Publicly Traded Companies. Brazilian Business Review, 19(6), 685–708. https://doi.org/10.15728/bbr.2022.19.6.6.en
Bhaskaran, S. (2006). Incremental Innovation and Business Performance: Small and Medium-Size Food Enterprises in a Concentrated Industry Environment. Journal of Small Business Management, 44(1), 64–80. https://doi.org/10.1111/J.1540-627X.2006.00154.X
Blomkvist, M., Johansson, J., & Malmström, M. (2016). Accounting knowledge in innovative firms - direct contacts with external auditors for strategic actions. International Journal of Managerial and Financial Accounting, 8(3–4), 209–229. https://doi.org/10.1504/IJMFA.2016.081852
Camisón, C., & Villar-López, A. (2010). Effect of SMEs’ international experience on foreign intensity and economic performance: the mediating role of internationally exploitable assets and competitive strategy. Journal of Small Business Management, 48(2), 116–151. https://doi.org/10.1111/J.1540-627X.2010.00289.X
Capon, N., Farley, J. U., Lehmann, D. R., & Hulbert, J. M. (1992). Profiles of Product Innovators Among Large U.S. Manufacturers. Management Science, 38(2), 157–169. https://doi.org/10.1287/MNSC.38.2.157
Chenhall, R. H., Kallunki, J. P., & Silvola, H. (2011). Exploring the relationships between strategy, innovation, and management control systems: The roles of social networking, organic innovative culture, and formal controls. Journal of Management Accounting Research, 23(1). https://doi.org/10.2308/jmar-10069
Cohen, K. J., & Cyert, R. M. (1973). Strategy: Formulation, Implementation, and Monitoring. The Journal of Business, 46(3). https://doi.org/10.1086/295545
Dabić, M., Lažnjak, J., Smallbone, D., & Švarc, J. (2019). Intellectual capital, organisational climate, innovation culture, and SME performance: Evidence from Croatia. Journal of Small Business and Enterprise Development, 26(4). https://doi.org/10.1108/JSBED-04-2018-0117
Daniel, C. O., & Inim, V. E. (2019). Impact of Accounting Information System as a Management Tool in Organisations. American Journal of Humanities and Social Sciences Research, 4.
Davila, A., Foster, G., & Oyon, D. (2009). Accounting and Control, Entrepreneurship and Innovation: Venturing into New Research Opportunities. Https://Doi.Org/10.1080/09638180902731455, 18(2), 281–311. https://doi.org/10.1080/09638180902731455
Dermer, J. D., & Lucas, R. G. (2019). The illusion of managerial control. In Management Control Theory.
Dharmawati, T., & Safitri, N. (2021). The Role Of Accounting Information Systems In Improving Business On Some Micro, Small And Medium Enterprises (Msmes) In Kendari, Indonesia. Pjaee, 18(4), 3087–3095.
Esparza-Aguilar, J. L., García-Pérez-De-Lema, D., & Duréndez, A. (2016). The effect of accounting information systems on the performance of Mexican micro, small and medium-sized family firms: An exploratory study for the hospitality sector. Tourism Economics, 22(5). https://doi.org/10.5367/te.2015.0515
Exposito, A., & Sanchis-Llopis, J. A. (2018). Innovation and business performance for Spanish SMEs: New evidence from a multi-dimensional approach. International Small Business Journal: Researching Entrepreneurship, 36(8). https://doi.org/10.1177/0266242618782596
Feeney, O., & Pierce, B. (2018). Accounting and new product development: The importance of interactions within social and technical structures. Qualitative Research in Accounting and Management, 15(2), 251–279. https://doi.org/10.1108/QRAM-05-2017-0045/FULL/HTML
Fitrah, M. N., & Yuliati, Y. (2023). Pengaruh E-Commerce Dan Penggunaan Sistem Informasi Akuntansi Terhadap Efektivitas Kinerja Umkm Di Kota Malang. Jurnal Ilmiah Manajemen, Ekonomi, & Akuntansi (MEA), 7(2), 91–101. https://doi.org/10.31955/mea.v7i2.2969
Garcia, R. (2023). Differentiation Strategy: Definition, Benefits and Creation | Indeed.com. https://www.indeed.com/career-advice/career-development/differentiation-strategy
Gartner, W. B., & Porter, M. E. (1985). Competitive Strategy. The Academy of Management Review, 10(4), 873. https://doi.org/10.2307/258056
Georgellis, Y., Joyce, P., & Woods, A. (2000). Entrepreneurial action, innovation and business performance: the small independent business. Journal of Small Business and Enterprise Development, 7(1), 7–17. https://doi.org/10.1108/EUM0000000006801/FULL/XML
Hambrick, D. C. (1983). High Profit Strategies in Mature Capital Goods Industries: A Contingency Approach. Academy of Management Journal, 26(4). https://doi.org/10.5465/255916
Harash, E. (2017). Accounting performance of SMEs and effect of of accounting information system: A conceptual model. Global Journal of Management and Business Research (D), 17(3).
Howell, J. M., Shea, C. M., & Higgins, C. A. (2005). Champions of product innovations: defining, developing, and validating a measure of champion behavior. Journal of Business Venturing, 20(5), 641–661. https://doi.org/10.1016/J.JBUSVENT.2004.06.001
Jaures, T. N. D. (2015). The Effect of Accounting Information System on Small and Medium Size Enterprise Performance.
Karmeni, K., de la Villarmois, O., & Beldi, A. (2018). Impact of control on innovation: the case of franchising. Management Decision, 56(7). https://doi.org/10.1108/MD-09-2015-0428
Khandwalla, P. N. (1977). The design of organizations. 713.
King, S. F., & Burgess, T. F. (2006). Beyond critical success factors: A dynamic model of enterprise system innovation. International Journal of Information Management, 26(1), 59–69. https://doi.org/10.1016/J.IJINFOMGT.2005.10.005
Kumar, A., & Kober, B. (2012). Urbanization, human capital, and cross-country productivity differences. Economics Letters, 117(1). https://doi.org/10.1016/j.econlet.2012.04.072
Kunttu, A., & Torkkeli, L. (2015). Service innovation and internationalization in SMEs: Implications for growth and performance. Management Revue, 26(2), 83–100. https://doi.org/10.5771/0935-9915-2015-2-83
Larios-Francia, R. P., & Ferasso, M. (2023). The relationship between innovation and performance in MSMEs: The case of the wearing apparel sector in emerging countries. Journal of Open Innovation: Technology, Market, and Complexity, 9(1), 100018. https://doi.org/10.1016/J.JOITMC.2023.100018
Latifah, L., Setiawan, D., Aryani, Y. A., & Rahmawati, R. (2021). Business strategy – MSMEs’ performance relationship: innovation and accounting information system as mediators. Journal of Small Business and Enterprise Development, 28(1), 1–21. https://doi.org/10.1108/JSBED-04-2019-0116
Lechner, C., & Gudmundsson, S. V. (2014). Entrepreneurial orientation, firm strategy and small firm performance. International Small Business Journal, 32(1). https://doi.org/10.1177/0266242612455034
Leitner, K. H., & Güldenberg, S. (2010). Generic strategies and firm performance in SMEs: A longitudinal study of Austrian SMEs. Small Business Economics, 35(2). https://doi.org/10.1007/s11187-009-9239-x
Luo, Y., & Zhao, H. (2004). Corporate link and competitive strategy in multinational enterprises: A perspective from subsidiaries seeking host market penetration. Journal of International Management, 10(1 SPEC ISS.), 77–105. https://doi.org/10.1016/j.intman.2003.12.006
Miller, D., & Friesen, P. H. (1986). Porter’s (1980) Generic Strategies and Performance: An Empirical Examination with American Data. Http://Dx.Doi.Org/10.1177/017084068600700103, 7(1), 37–55. https://doi.org/10.1177/017084068600700103
Nura, M., Naala, I., Nordin, N., Ahmad, W., & Omar, W. (2017). Innovation Capability and Firm Performance Relationship: a Study of Pls-Structural Equation Modeling (Pls-Sem). https://www.researchgate.net/publication/320288043
OECD. (2018). SME Policy Index ASEAN 2018 BOOSTING COMPETITIVENESS AND INCLUSIVE GROWTH SME Policy Index ASEAN 2018 BOOSTING COMPETITIVENESS AND INCLUSIVE GROWTH SME Policy Index. https://doi.org/10.1787/9789264305328-en
Pasaribu, R. D., Pertiwi, A. N., & Sugiharto, Z. I. (2022). Strategi Bisnis Dan Program Fungsional Pada Usaha Roti Dengan Pendekatan Analisis Dan Matriks Swot. Jurnal Ilmiah Manajemen, Ekonomi, & Akuntansi (MEA), 6(3), 1450–1465. https://doi.org/10.31955/mea.v6i3.2503
Purwanti, I., & Suyanto, U. Y. (2021). Pendekatan Manajemen Strategi Dalam Pengembangan Sektor Umkm Di Kabupaten Lamongan. Jurnal Ilmiah MEA (Manajemen …, 5(1), 735–757.
Pusung, C. S., Narsa, N. P. D. R. H., & Wardhaningrum, O. A. (2023). Innovation, Competitive Strategy and Msme Performance: a Survey Study on Culinary Smes in Indonesia During the Covid-19 Pandemic. Business: Theory and Practice, 24(1), 160–172. https://doi.org/10.3846/btp.2023.16676
Putri, N. K., & Maghfiroh, S. (2022). Implementation Of Accounting Information Systems By Small And Medium Enterprises In Banyumas. JAS (Jurnal Akuntansi Syariah), 6(1), 83–92. https://doi.org/10.46367/JAS.V6I1.566
Robinson, W. T., & Fornell, C. (1985). Sources of Market Pioneer Advantages in Consumer Goods Industries. Journal of Marketing Research, 22(3). https://doi.org/10.1177/002224378502200306
Romney, M. B., & Steinbart, P. J. (2015). Sistem Informasi Akuntansi. 794.
Ruiz-Palomo, D., Diéguez-Soto, J., Duréndez, A., & Santos, J. A. C. (2019). Family management and firm performance in family SMEs: The mediating roles of management control systems and technological innovation. Sustainability (Switzerland), 11(14). https://doi.org/10.3390/su11143805
Sajady, H., Dastgir, M., & Hashem Nejad, H. (2008). Evaluation Of The Effectiveness Of Accounting Information Systems. International Journal of Information Science and Management (IJISM), 6(2), 49–59. https://ijism.ricest.ac.ir/article_698119.html
Scott, T. W., & Tiessen, P. (1999). Performance measurement and managerial teams. Accounting, Organizations and Society, 24(3), 263–285. https://doi.org/10.1016/S0361-3682(98)00060-9
Singh, R. K., Garg, S. K., & Deshmukh, S. G. (2010). The competitiveness of SMEs in a globalized economy: Observations from China and India. Management Research Review, 33(1), 54–65. https://doi.org/10.1108/01409171011011562/FULL/XML
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Published
2023-12-08
How to Cite
Ashsifa, I., Hidayanti, A., & Mukhlisin, A. (2023). REVITALIZING MSMES : AN EXAMINATION OF BUSINESS STRATEGY, INNOVATION AND ACCOUNTING INFORMATION SYSTEMS FOR IMPROVED PERFORMANCE. Jurnal Ilmiah Manajemen, Ekonomi, & Akuntansi (MEA), 7(3), 1609-1628. https://doi.org/10.31955/mea.v7i3.3568
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Articles
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