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All Journal Transekonomika : Akuntansi, Bisnis dan Keuangan Yudishtira Journal : Indonesian Journal of Finance and Strategy Inside
Ohara, Eric
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Economics, Econometrics & Finance

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THE ROLE OF INNOVATION IN ENHANCING FINANCIAL PERFORMANCE IN YOGYAKARTA'S CREATIVE INDUSTRY Kuncoro, Andreas Mahendro; Subroto, Melvin Rahma Sayuga; Ohara, Eric
TRANSEKONOMIKA: AKUNTANSI, BISNIS DAN KEUANGAN Vol. 4 No. 5 (2024): September 2024
Publisher : Transpublika Publisher

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.55047/transekonomika.v4i5.738

Abstract

This study explores the impact of various types of innovation—organizational, process, product, and business model innovations—on the financial performance of firms in Yogyakarta's creative industry. The research employs Partial Least Squares Structural Equation Modeling (PLS-SEM) to analyze data collected from 57 creative industry firms. The findings indicate that organizational innovation significantly enhances process and business model innovations, which in turn positively affect financial performance. However, the direct impact of organizational innovation on product innovation is not significant, suggesting the need for a more integrated approach to foster product development. The study highlights the essential of innovative practices and adaptive business models in driving financial success in the creative industry. These insights are crucial for managers and policymakers aiming to boost the financial performance of creative firms through strategic innovation.
PENERAPAN MANAJEMEN MUTU TERHADAP KINERJA FINANSIAL DI INDUSTRI KREATIF: TINJAUAN LITERATUR SISTEMATIK Subroto, Melvin Rahma Sayuga; Kuncoro, Andreas Mahendro; Ohara, Eric
Yudishtira Journal : Indonesian Journal of Finance and Strategy Inside Vol. 4 No. 2 (2024): Yudishtira Journal : Indonesian Journal of Finance and Strategy Inside
Publisher : Gapenas Publisher

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.53363/yud.v4i2.90

Abstract

The creative industry faces challenges in balancing the need for standardization with the need for creativity. Standardization can improve efficiency and quality, but if it is too rigid, it can hinder creativity. This study uses the systematic literature review (SLR) method  to explore this balance and its impact on financial performance. From the 18 articles analyzed, it was found that the implementation of flexible and adaptive quality management can improve efficiency without limiting creativity, and companies that manage to maintain this balance tend to produce better financial performance. Effective strategies include the development of adaptable quality standards, collaboration between human resources, and continuous feedback systems
Co-Authors Kuncoro, Andreas M Subroto, Melvin Rahma Sayuga