Harnessing Industrial Environment and Company Assets to Develop Digital Creative Business Strategies for Sustainable Business Performance
Keywords:
Industrial Environment, Company Assets, Digital Creative Business Strategy, Sustainable Business PerformanceAbstract
The rapid growth of the digital creative industry is met with various challenges in maintaining sustainable business performance. This study examines the influence of the industrial environment and company assets on sustainable business performance, directly and through the mediation of digital creative business strategies. Employing verification research, the study surveyed 100 business actors in Jakarta’s digital creative sectors (GEMASS: Games, Education, Digital Music, Animation, Software, Social Media) using simple random sampling. Data was analyzed using Partial Least Squares Structural Equation Modeling (PLS-SEM). Findings reveal that company assets significantly impact sustainable business performance directly, while the industrial environment affects sustainable business performance performance indirectly through digital creative business strategy. Digital creative business strategy plays a critical role both as a direct and mediating factor, particularly in leveraging company assets. These results suggest that digital creative companies must strengthen their strategic formulation processes, considering both company assets and the industrial environment.
References
Amalia, S.F. (2024). Hambatan Indonesia dalam Perkembangan Ekonomi Kreatif. https://www.kompasiana.com/syarifahfadila/655b4000edff 7607636db212/hambatan-indonesia-dalam-perkembangan-ekonomi -kreatif.
Awaluddin, M., Sule, E. T., & Kaltum, U. (2016). The influence of competitive forces and value creation on company reputation and competitive strategy: a case of digital creative industry in Indonesia with the implication on sustainable business performance. International Journal of Economics, Commerce and Management, IV (2), 201-234.
Barney, J. (1991). Firm resources and sustained competitive advantage. Journal of management, 17(1), 99-120.
Birru, A. C., Sudarmiatin, S., & Hermawan, A. (2022). Competitive strategies in the lodging service sector: Five porter analyses and case study SWOT analysis. Journal of Business and Management Review, 3(1), 001-017.
Chukwu, G. J., & Egbuhuzor, C. A. (2017). Tangible Assets and Corporate Performance: Evidence from the manufacturing industry in Nigeria. Research Journal of Financial Sustainability Reporting, 2(1), 271-277.
Ermaya, S. K. (2021). Pengaruh Lingkungan Eksternal terhadap Kinerja Bisnis (Studi Kasus pada Industri Kreatif Digital yang Terdaftar di Aspiluki, Jawa Barat). Adaptasi dan Sinkronisasi Kebijakan Pembangunan Memanfaatkan Momentum New Normal Pasca Covid-19, 255-264.
Ferdinand, A. (2014). Metode Penelitian Manajemen. BP Universitas Diponegoro, Semarang.
Ho, J.K. (2012). Strategic Innovation through Business Intelligence: Linking Competitive Forces to Profitability. International Journal of e-Education, e-Business, e-Management and e-Learning, 2(4), 280-285.
Indiatsy, C. M., Mwangi, M. S., Mandere, E. N., Bichanga, J. M., George, G. E. (2014). The Application of Porter’s Five Forces Model on Organizational Performance: A Case of Cooperative Bank of Kenya Ltd. European Journal of Business and Management, 6(16), 75-85.
Kamasak, R. (2017). The contribution of tangible and intangible resources, and capabilities to a firm’s profitability and market performance. European journal of management and business economics, 26(2), 252-275.
Kirana, A. Y., Saifudin, M., Mukhlisin, M. M., Fatmawati, N., & Ansori, M. I. (2023). Transformasi Digital terhadap Sumber Daya Manusia sebagai Upaya Meningkatkan Kapabilitas Perusahaan. Digital Bisnis: Jurnal Publikasi Ilmu Manajemen dan E-Commerce, 2(4), 19-36.
Limanseto, H. (2022). Pemerintah Dorong Optimalisasi Pertumbuhan Industri Kreatif Indonesia. https://www.ekon.go.id/publikasi/detail/3593/pemerintah-dorong-optimalisasi-pertumbuh an-industri-kreatif-indonesia.
Lopes, F. C., & Carvalho, L. (2021). Intangible assets and business performance in Latin America. RAUSP Management Journal, 56(4), 408-424.
Masood, O., Aktan, B., Javaria, K., Turen, S., & ElSeoud, M.S.A. (2017). Which resources matter the most to firm performance? An experimental study on Malaysian listed firms. Problems and Perspectives in Management, 15(2), 74-80.
Nastiti, P. (2019). Analisis Strategi Bisnis dan SI/TI Pada Perusahaan Rintisan Berbasis Teknologi. no, 44, 33-43.
Pearce, J. A., & Robinson, R. B. (2015). Strategic Management: Planning for Domestic & Global Competition. International Edition. New York: McGraw Hill.
Putranto, A. (2015). Government Chief Information Officer: Analisis Peran dan Kompetensi di Pemerintahan Indonesia (Doctoral dissertation, Universitas Gadjah Mada).
Rochmawati, D. R., Hatimatunnisani, H., & Veranita, M. (2023). Mengembangkan Strategi Bisnis di Era Transformasi Digital. COOPETITION, 14(1), 101-108.
Rofaida, R., Aryanti, A. N., & Perdana, Y. (2019). Strategi inovasi pada industri kreatif digital: Upaya memperoleh keunggulan bersaing pada era Revolusi Industri 4.0. Jurnal Manajemen Dan Keuangan, 8(3), 402-414.
Saleh, M. (2018). Impacts of tangible and intangible asset investment on value of manufacturing companies listed on the Indonesia stock exchange. Archives of Business Research, 6(10), 402-410.
Santoso, R., Purwoko, B., Umar, H., Renwarin. J. M. J. (2020). The Effect of Business Environment on the Corporate Performance through Business Strategies in the Construction Service Industry in DKI Jakarta, Indonesia. International Journal of Managerial Studies and Research (IJMSR), 8(4), 1-12.
Takata, H. (2016). Effects of industry forces, market orientation, and marketing capabilities on business performance: An empirical analysis of Japanese manufacturers from 2009 to 2011. Journal of Business Research, 69(12), 5611-5619.
Tavitiyaman, P., Qu, H., & Zhang, H. Q. (2011). The impact of industry force factors on resource competitive strategies and hotel performance. International journal of hospitality management, 30(3), 648-657.
Vinzi, VE., Trinchera, L., Squillacciotti, S., & Tenenhaus, M. (2008). REBUS‐PLS: A response‐based procedure for detecting unit segments in PLS path modelling. Applied Stochastic Models in Business and Industry, 24(5), 439-458.
Wheelen, T. L., Hunger, J. D., Hoffman, A. N, Bamford, C. E. (2015). Strategic management and business policy: Globalization, Innovation, and Sustainability. 13 Global Edition, England: Pearson Education Limited.
