| Business model innovation is the planning and design of new ways of doing business through changes,and improvements to existing business processes,both internally and in collaboration with externals to create new work processes that have never been finished before to increase the added value of stakeholders.The Innovation of business model helps to determine what value is offered to consumers and how to make profits from the business.This research uses a mix of quantitative and qualitative methods;Micro Small Medium Enterprises owner is the research subject(MSMEs).The nonprobability purposive sampling method refers to the criteria established by the researcher,allowing respondents to fill out questionnaires by better understanding the business model used during the COVID-19 epidemic and a strategy that suits the needs and business model of the business.The researcher collected data by involving 110 MSMEs in Indonesia,and all constructs in the questionnaire are valid and reliable.Statistical analysis used is SPSS software version 25 with data analysis methods for exploratory design,descriptive analysis,multiple linear regression,simultaneous test(F test),classic assumption test,validity and reliability tests through the use of SPSS.The statements of variables of the innovative business model,namely value proposition,value chain,and revenue logic,were revealed in the findings.From the results of exploration design and statistical testing,Indonesian MSMEs currently have two types of business models,namely start-up business models,and transformationbusiness models,show that Indonesian MSMEs as economic support during the pandemic period have created various strategies to maintain business.Indications from the study results that operational systems run through online and offline MSMEs have no difficulty in maintaining business models,besides MSMEs maximize applications,social media,websites,and marketplaces to facilitate MSMEs in reaching market segments and facilitate approaches to customers to get to know MSMEs.In addition,Indonesian MSMEs have performed their role well as supporters of the country’s economy through creativity and uniqueness created such as the existence of product and service variants involving traditional models or characteristics of the country that are packaged attractively that provide a positive response for customers and the market.The formulation of a strategic business model whose innovation and proper implementation have a good impact,meaning that there are changes in the business model strategy made and its implementation in business operations that require adjustment of various resources owned.The risks received during the pandemic are not too high,and the appeal through online socialization and government assistance for MSMEs has been channeled properly,MSMEs are getting used to finding the right innovation business model strategy and answering customer demands while there are indicator attachments in the innovation business model strategy that provide opportunities and pressure for MSMEs to remain in the market.Suggestions that can be given to Indonesian MSMEs through innovative business model strategies to be the main handle of strategy development for product or service categories or new business models that are expected to change the market and form new value for MSMEs.It is expected not to focus too much on the old business model to wait for new resources,and do not wait to update the innovation business model strategy only when you find a very important situation,this endangers business stability.The innovation business model strategy challenges business owners to see more clearly existing businesses,as well as the need for government support in the development and empowerment of MSMEs,through the provision of socialization,infrastructure,and capital assistance so that MSMEs can compete,to establish close cooperation between the government and MSMEs to achieve international market competition. |
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