The Effect of Financial Technology, Innovation, Business Strategy, and Market Orientation on Business Performance among Indonesian SMEs: A Study in Riau Province

Faculty of Economics and Business
Universitas Riau
28293 Pekanbaru, INDONESIA.

enni.savitri@lecturer.unri.ac.id

School of Accounting and Finance
Taylor’s University
47500 Subang Jaya, MALAYSIA.

nikherda.nikabdullah@taylors.edu.my

Faculty of Economics and Business
Universitas Riau
28293, Pekanbaru, INDONESIA.

andreas@lecturer.unri.ac.id;

Faculty of Economics and Business
Universitas Riau
28293 Pekanbaru, INDONESIA.

volta.diyanto@lecturer.unri.ac.id

Faculty of Teacher Training and Education
Universitas Riau
28293 Pekanbaru, INDONESIA.

almasdi.syahza@lecturer.unri.ac.id.

Abstract

The pandemic’s negative impact on SMEs’ performance have been particularly felt as a result of changes in consumer behavior. Therefore, strategic actions are required to accelerate the growth of SMEs in the post-pandemic era. Based on the Dynamic Capabilities Theory, the aim of this study was to analyze the effect of financial technology, innovation, business strategy, and market orientation on the business performance of SMEs in Riau Province, Indonesia. Using purposive sampling, survey data was collected from a sample of 123 SME owner-managers. Data analysis using partial least squares structural equation modeling showed that financial technology, innovation, business strategy, and market orientation significantly affect the business performance of SMEs.  SME owner-managers use financial technology to make new breakthroughs through innovation, implement more diverse business strategies, and improve market orientation. The findings suggest that long-term digital technology development strategies are required as a platform for SMEs to grow.

 

 

Keywords

business strategy; financial technology; innovation; Market orientation; small and medium enterprises
https://doi.org/10.17576/pengurusan-2023-68-11

Citation

Savitri, E., Nik Abdullah, N. H., Andreas, A., Diyanto, V., & Syahza, A. (2023). The Effect of Financial Technology, Innovation, Business Strategy, and Market Orientation on Business Performance among Indonesian SMEs: A Study in Riau Province. Jurnal Pengurusan, 68, –. https://doi.org/10.17576/pengurusan-2023-68-11

@article{savitri2023effect,
  title={The Effect of Financial Technology, Innovation, Business Strategy, and Market Orientation on Business Performance among Indonesian SMEs: A Study in Riau Province},
  author={Savitri, Enni and Nik Abdullah, Nik Herda and Andreas, Andreas and Diyanto, Volta and Syahza, Almasdi},
  journal={Jurnal Pengurusan},
 

volume={68},
  number={},
  pages={—},
  year={2023},
  doi={https://doi.org/10.17576/pengurusan-2023-68-11},
  publisher={Penerbit UKM},
}

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68 (2023) –

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