Agung, Deatri Arumsari and Memarista, Gesti (2024) Turning Crisis Into Opportunities In The New Economy : Revealing Challenges Faced By Female Founders In Indonesia and Their Coping Strategies. In: International Researcher and Student Conference (IRSC) 2023 Sustainability in the New Economy, 21-23 Agustus 2024, Pontianak.
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Abstract
Further research is still required to fully understand the unique challenges and barriers that women entrepreneurs have to deal with during the pandemic in the context of Indonesia. There is a need to devote further attention to women entrepreneurs’ complex strategies to deal with unforeseen circumstances and disasters, particularly in Indonesia. The study aims to provide valuable insights into how female founders in Indonesia turn crisis into opportunities in the new economy. The qualitative research approach was used because it is appropriate to use a multi-case study approach to investigate how the COVID-19 crisis has affected women entrepreneurs. The data was gathered through in-depth interviews with nine female founders in Indonesia. Six main challenges and barriers were consistently mentioned during the interviews. These are (1) financial issues, (2) mental health and family issues, (3) poor communication both internally and externally, (4) fierce competition on online channels, (5) declines in consumer spending, and (6) lack of market information and market disruptions. Further, there are four primary business model building blocks that most respondents adjusted significantly. These are (1) key activities, (2) key resources, (3) customer segments, and (4) channels. This paper argues that business model pivot is the number one solution, as perceived by female founders in Indonesia, to survive the pandemic crisis and eventually take advantage of the newly generated opportunities. This research will add to the diversity of academic literature in the context of women’s entrepreneurship. From the managerial perspective, one of the implications of this study is to boost women entrepreneurs’ sustainability, especially in the new economy. By applying the pivot concept as a crucial tool for overcoming adversity, our study broadens the current understanding of strategic responses to crises.
| Item Type: | Conference or Workshop Item (Paper) |
|---|---|
| Uncontrolled Keywords: | Women entrepreneurs, COVID-19, Business model, Pivot |
| Subjects: | Business > Management Digital Business Management > Business > Management |
| Divisions: | Proceeding |
| Depositing User: | F.X. Hadi |
| Date Deposited: | 19 Nov 2024 04:06 |
| Last Modified: | 27 Feb 2025 06:46 |
| URI: | https://repositori.ukwms.ac.id/id/eprint/41160 |
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