Binus Business Review

Critical Factors for SMEs’ Business Sustainability through the COVID-19 Pandemic: A Systematic Literature Review

2024-04-30T04:46:49+00:00

The COVID-19 pandemic has brought profound changes in the global economy, altering the dynamics between nature, people, government, and business. This transformation has particularly impacted Small and Medium Enterprises (SMEs). As vital contributors to the distribution of wealth and the foundation of numerous businesses worldwide, SMEs face various challenges in sustaining their operations in today’s competitive and globalized economy. The research aimed to explore the factors influencing the sustainability of SMEs from the Resource-Advantage Theory of Competition (RAToC) perspective. It applied a qualitative research through bibliometric analysis using Visualization of Similarities (VOS) viewer software with Scopus data from 2019 to 2023 and resulted in 560 relevant articles. The literature review reveals that successful SMEs in the post-COVID-19 era are capable of addressing challenges through innovation, adaptability, flexibility, and resource integration with a commitment to social responsibility. The keys to their success are the adept embrace of technological advancements, responsiveness to market changes, proactive seizing of new opportunities, and the cultivation of stakeholder engagement alongside prudent risk management. The research not only provides a nuanced understanding of dynamic strategies, but also offers profound insights into essential attributes, positioning SMEs to succeed within the continually evolving post-pandemic landscape. Therefore, it ensures their resilience and sustained growth in the future.

An Analysis of the Relationship between Prices, Shopping Habits, Promotions, and Fashion Involvements in Impulsive Buying Decisions

2024-07-16T04:18:49+00:00

The research aimed to evaluate the direct and mediating association between impulsive buying behavior and the impact of several elements, such as costs, shopping lifestyle, promotion, and fashion engagement. Quantitative research was conducted by questionnaires to 100 participants, encompassing individuals from diverse age groups, jobs, and genders. However, only 88 questions were deemed legitimate and met the criteria for evaluation. In the interim, a total of 12 surveys were deemed unsuccessful due to their failure to fulfill the established criteria or the presence of incomplete responses provided by the participants. Researchers tested the relevance of the effect of each variable indicator that affected impulsive purchase using SmartPLS software. The findings indicate that among the factors examined, only one variable has a positive direction and a significant impact on impulsive buying through the intervening channel, as seen by a p-value of 0.010. Conversely, the remaining variables exhibit a lack of meaningful influence and display a negative direction. The result stipulates that the price is the primary criterion for individuals who make impulsive purchases to satisfy their fashion wants. These findings have the potential to address the idea that impulsive buying behavior is only determined by the intricate interplay of factors such as price, promotion, shopping lifestyle, and fashion engagement. Hence, it is necessary to employ alternative methodologies to benchmark various indicator variables to discover fresh findings on impulsive purchase attitudes on digital platforms in the modern day.

Understanding Generation Z: Work-Life Balance and Job Embeddedness in Retention Dynamics

2024-05-20T04:39:32+00:00

The Great Resignation has presented a significant challenge for companies aiming to retain top talent and emphasize the critical need for effective employee retention strategies. The research investigated the relationship between work-life balance, employee retention, and turnover intention among Generation Z employees across various industries in Indonesia. By encompassing multiple sectors such as technology, finance, healthcare, and hospitality, the research aimed to capture Generation Z employees’ diverse experiences and perceptions. The research involved 373 Generation Z respondents across various industries, employing a quantitative approach. Data collection was facilitated through online questionnaires, and analysis was conducted using Structural Equation Modeling (SEM) with Partial Least Square (PLS) as the analytical tool. The findings reveal significant relationships between various constructs. Work-life balance influences employee retention, turnover intention, and job embeddedness. Additionally, job embeddedness exerts an impact on both employee retention and turnover intention. Furthermore, work-life balance indirectly affects employee retention and turnover intention through its mediation by job embeddedness. The inclusion of diverse industries ensures that the results are broadly applicable, offering practical recommendations for fostering a resilient and engaged workforce in different professional environments. Future research should continue to explore industry-specific nuances to further enrich the understanding of these critical issues.

Redesigning Digital Marketing Strategy for Increasing Sales of Small Business: A Case Study in Pinescarf

2024-06-10T04:31:57+00:00

The research provided a complete and practical perspective on reviving struggling small businesses by redesigning marketing strategies to boost sales. It aimed to identify the implemented marketing strategy, evaluate the marketing performance, and redesign the marketing strategy. An exploratory mixed-method approach was applied, comprising three stages. First, qualitative descriptive analysis identified the existing marketing strategy through in-depth interviews and direct observation, analyzed using Segmentation, Targeting, and Positioning (STP) and the Cocreation, Currency, Communal Activation, and Conversation (4C) marketing mix. Second, ongoing marketing performance was evaluated based on the perceptions of 267 Instagram and Shopee followers of Pinescarf, using convenience sampling and the Aware, Appeal, Ask, Act, and Advocate (5A) customer path concept. Third, strategy formulation utilized the Analytical Hierarchy Process (AHP), integrating qualitative and quantitative approaches based on insights from management, consumers, and industry experts. The identification process shows that Pinescarf needs to improve its implementation of the 4C marketing mix. A bottleneck at the Act and Advocate stages prevents purchases, resulting in a funnel-shaped customer path. Strategy formulation using AHP prioritizes increasing sales as main marketing objective of Pinescarf. Maximizing advertising performance in the conversation mix is the first priority, followed by regular discounts in the currency mix to address the Act stage bottleneck. These findings can help Pinescarf to save time and costs by focusing on effective marketing efforts. Additionally, the research has connected marketing theory with real-world practice, enabling businesspeople to make informed decisions based on solid analysis alongside their existing intuition.

Exploring the Impact of Confirmation, Perceived Usefulness, and Perceived Risk on User Satisfaction and Continuance Intention of Paylater Users

2024-07-24T03:41:12+00:00

Financial service innovation is increasingly developing with the massive growth in the use of Information and Communication Technology (ICT). Paylater is a digital financial service product that has recently developed rapidly. Even though many people view paylater negatively, its presence is well-received, especially by young people. Paylater is a new trend in digital payment services, so there is still limited research that discusses the continuance intention of e-commerce users. The research aimed to determine the effect of confirmation, perceived usefulness, satisfaction, and perceived risk on continuance intention. The research, using a questionnaire and a quantitative approach, involved a sample of 209 users of paylater in Jakarta, which was taken through purposive sampling. The research tested hypotheses using the Structure Equation Modelling (SEM) model with the Partial Least Square (SEM-PLS). Research findings show that satisfaction and risk perception have a positive and significant effect on the intention to continue using paylater services. Confirmation and perceived usefulness are also found to positively and significantly influence satisfaction. Therefore, paylater service providers should be more innovative in providing attractive features. Then, paylater users need to improve their financial literacy to be wiser when using it. Last, service providers need a deep understanding to become leaders in providing paylater services, so conducting studies related to continuance intention is essential.

Increasing Commitment through the Effect of Green Training and Development and Green Behavior in State-Owned Bank Employees

2024-08-14T08:49:12+00:00

The rising concern of global warming has spurred numerous organizations and companies worldwide to adopt green business strategies, which integrate environmental management with Human Resource Management (HRM), notably through implementing Green HRM (GHRM). The Indonesian government has also promoted eco-green applications in support of environmental sustainability in various government institutions, including state-owned banks, as a pioneer in the GHRM program. The research evaluated the influence of green training and development on organizational commitment among employees at a state-owned bank. The research raised the novelty by modifying indicators that were relevant to banking activity. Additionally, it examined the role of green behavior as a mediating factor in the relationship between green training and organizational commitment. The research involved 200 employees from the head office of a state-owned bank, using non-probability and convenience sampling methods. Then, data were analyzed using Structural Equation Modeling (SEM) and the Smart PLS 3.0 software. The findings indicate that green training and development significantly influence green behavior, substantially enhancing organizational commitment. A shift towards a more environmentally conscious work culture strengthens employees’ commitment. The management of the state-owned bank, particularly the HRM departments, is advised to focus on enhancing and implementing GHRM practices. The practices include integrating green training and development into their in-person and online programs to promote green behavior and positively impact employee organizational commitment. The research underscores the mediating role of green behavior in the relationship between green training and organizational commitment, although the direct effects are more pronounced than indirect ones.

The Factors Influencing Brand Love and Willingness to Pay among iPhone Consumers in Indonesia

2024-08-05T02:59:02+00:00

The iPhone has become a globally exclusive and luxurious item, including in Indonesia, and it even serves as a high social status symbol for its owners. Almost every launch of a new series product always garners attention and sells out, despite its high price compared to competitors with slightly different specifications. The research aimed to identify the factors influencing brand love and willingness to pay among iPhone consumers in Indonesia. Consumer behavior and personality factors, such as social status, self-expression, hedonism, and perceived quality, were utilized as determinant variables of brand love and willingness to pay. A total of 654 iPhone users participated in filling out surveys on social media, in Apple stores, and through online forms via Google Forms. Smart-PLS 4.0 software was employed for statistical data analysis, utilizing Partial Least Squares - Structural Equation Modeling (SEM-PLS). In the results, it is proven that the positive factors driving iPhone customers’ brand love come from perceived quality, social status, and self-expression. Meanwhile, the factors driving willingness to pay are brand love, perceived quality, social status, and self-expression. However, hedonism does not have a positive impact on brand love and willingness to pay. The research results suggest that the hedonic experience of the product may not be the main factor influencing consumers in the context of premium products such as the iPhone. The strong and luxurious branding of iPhone is the main reason for its customers. In addition, brand love is a key variable that mediates willingness to pay.

The Difference between Consistent and Inconsistent Planned Impulse Buying Based on External Stimulus and Virtual Cart Use

2024-07-09T08:23:12+00:00

Impulse-buying behavior is enjoyable for consumers and profitable for marketers. Selecting what they want and putting it in the shopping cart gives customers a sense of shopping enjoyment. However, the virtual shopping cart feature can be a barrier to impulse-buying behavior due to the abandonment of virtual carts. Sellers can overcome abandonment behavior in virtual carts by understanding consumer behavior, one of which is when exposed to external stimuli. The application of different external stimuli also produce different consumer behavior as well. The research aimed to validate the differences between Consistent Planned Impulse Buying (CPIB) and Inconsistent Planned Impulse Buying (IPIB) based on the influence of external stimuli: informativeness, appearance, and sales promotion, with the virtual cart used as the mediator variable using cognitive consistency theory. Data collection was carried out by distributing online questionnaires to 364 participants in Indonesia from October to November 2021 using a hierarchical linear model as the data analysis method. The analysis shows that sales promotion distinguishes between CPIB and IPIB. Sales promotions do not influence CPIB. Meanwhile, sales promotion affects IPIB. Hence, e-marketplace owners and their seller partners can apply the most appropriate external stimulus to induce impulse-buying behavior of different types. The research results also reveal a positive and significant relationship between the independent variables on virtual cart use and virtual cart on CPIB and IPIB.

Editorial Page and Table of Content

2024-10-30T10:27:13+00:00