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All Journal Journal on Economics, Management and Business Technology
Leny Anggreini Pasaribu
Unknown Affiliation
Computer Science & IT Decision Sciences, Operations Research & Management Economics, Econometrics & Finance Industrial & Manufacturing Engineering

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Innovation and Business Networks: Catalysts for Success in Medan City's Coffee Shop Industry Leny Anggreini Pasaribu
Journal on Economics, Management and Business Technology Vol. 2 No. 1 (2023): September: Economics, Management and Business Technology
Publisher : IHSA Institute

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.35335/jembut.v2i1.185

Abstract

This research delves into the intricate web of factors influencing the success of coffee shop small businesses within the vibrant milieu of Medan City. Focusing on the interplay between innovation, business networks, and success metrics, the study aims to unearth the pivotal roles these elements play in shaping the competitive landscape and longevity of coffee shops. Utilizing a mixed-methods approach encompassing surveys, interviews, and data analysis, the research investigates the influence of innovation on success metrics and explores the interconnectedness between strategic network engagements and coffee shop prosperity. The study also delves into the significance of community integration in fostering brand loyalty and identity. Findings underscore the indispensable role of innovation as a driver of differentiation, customer attraction, and adaptability. Coffee shops pioneering innovative practices emerge as frontrunners, drawing patrons seeking unique experiences and ensuring sustained relevance amid a competitive market. Additionally, robust business networks are unveiled as catalysts for innovation, providing avenues for resource access, collaborations, and community engagement. Community integration emerges as a vital facet, fostering a sense of belonging and brand loyalty. Coffee shops deeply embedded in local ecosystems and engaged in community partnerships showcase amplified success metrics, contributing to a vibrant social fabric and brand recognition. The study's implications extend to stakeholders, emphasizing the strategic importance for coffee shop owners to prioritize innovation-driven strategies, foster collaborative networks, and engage actively within local communities.
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