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Journal : International Journal for Advanced Research

Product Innovation Analysis as a Strategy to Survive in Competitive Markets Zahara Meutia; Henny Purnama Dewi; Faziatul Amillia Mohamad Basir; Muammar Rinaldi; Azizul Kholis
International Journal of Advanced Research Vol. 1 No. 4: December 2024
Publisher : Outline Publisher

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.61730/2ag56c51

Abstract

This study aims to analyze the role of product innovation as a strategy to survive in a competitive market. Product innovation is the main key for companies in facing tight competition in the era of globalization and rapid technological development. This study uses a quantitative descriptive method with a survey approach to small, medium, and large companies in several industrial sectors. Data were collected through questionnaires and in-depth interviews with company management who have experience in developing innovative products. The results of the study show that product innovation has a significant positive impact on the competitiveness and performance of the company, both in terms of increasing sales, customer loyalty, and market share. Factors that support the success of product innovation include the use of technology, research and development (R&D), and a focus on customer needs. In addition, obstacles that are often faced in implementing innovation include limited resources, capital, and access to technology. Proposed solutions include increasing investment in technology, collaboration with research institutions, and implementing customer-centric strategies.
Study of the Application of Environmentally Friendly Concepts in Micro and Small Businesses Atika Aini Nasution; Yasuli Bindulem; Zahara Meutia
International Journal of Advanced Research Vol. 1 No. 4: December 2024
Publisher : Outline Publisher

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.61730/r9hxzt36

Abstract

This study aims to analyze the application of environmentally friendly concepts in micro-enterprises and understand the factors that influence the implementation of these sustainable practices. Amidst increasing global awareness of environmental issues, micro-enterprises have an important role in supporting sustainable development through more responsible business practices. The research method used is a qualitative descriptive approach with data collection techniques through observation, in-depth interviews, and literature studies. The research sample consists of several micro-enterprises in the production and service sectors in certain areas that have begun to implement environmentally friendly concepts in their business operations. The results of the study indicate that some micro-entrepreneurs have adopted environmentally friendly practices such as the use of environmentally friendly raw materials, waste management, energy efficiency, and the use of simple technology. However, the implementation of this concept still faces several obstacles, including limited capital, access to environmentally friendly technology, and lack of knowledge and socialization about the long-term benefits of these practices. Factors such as government support, incentive policies, and ongoing assistance are considered important drivers for the successful implementation of environmentally friendly concepts.