MEET-EX : THE EXPLORATORY STUDY OF SUSTAINABLE BUSINESS STRATEGY MODEL INITIATION IN IMPROVING MSMES CAPABILITY TO MEET CONSUMER EXPECTATIONS

Abstract

Objective: Consumers expect MSMEs to adopt sustainable strategies but realizing there is a gap between business sustainability practices and consumer expectations. This research aims to identifies sustainable business strategies to be integrated into business practices. Research Design & Methods: This research uses exploratory qualitative methods. The data collection technique uses an interview method. The sampling design used non-probability sampling (snowball). The analysis technique is through data collection, data reduction, data presentation, and concluding because it can explain, assess, and visualize superior MSMEs empowerment modeling. Findings: The results of this study indicate the technology-based sustainable business strategy must be the primary role model to increasing the MSMEs competitiveness. A successful sustainable business strategy has four core dimensions: innovation, collaboration, communication, and commitment. Digital businesses can be used as a medium to achieve their vision of sustainable practices in competitive advantage, brand loyalty, risk mitigation, and cost reduction. Researchers prove that the sustainability can lead to an increase in the market value of MSMEs. Implications & Recommendations: MSMEs who proactively make the core of business strategy sustainability will encourage innovation and generate enthusiasm and loyalty from employees, customers, suppliers, communities, and investors. Implementation of integrated digital business strategy should include guidelines for understanding consumer behavior, accessing market data more easily, and using social media as a form of continuous communication that shows the proximity of MSMEs to customers. Contribution & Value Added: Empirical research to measure the relationship between proposed sustainable business practices and consumer expectations holds excellent opportunities for future research