RESOURCE-BASED VIEW: STRATEGI UMKM DI SUMATERA BARAT UNTUK MENCAPAI KEUNGGULAN KOMPETITIF
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Keywords:
SMEs, Resources Based View, VRIO
Abstract
West Sumatra has a number of MSMEs that tend to increase every year. However, these MSMEs are still lacking confidence because of the limitations they have, such as difficulties in funding, lack of technological tools to support operational activities, and lack of knowledge in the scope of business strategy. This research is a type of empirical research in the form of a literature study originating from five previous studies. The keywords used in the selection of articles were: 1) 2019-2020 criteria, 2) discussing MSMEs, 3) using the Resource-Based View (RBV) strategy, 4) using the VRIO theory (valuable, rare, inimitable, organization). From the research results, it was found that RBV with VRIO analysis contributed positively to MSMEs in gaining competitive advantage. Valuable, rare, imitability and organization are internal assets or resources owned by tangible and intangible MSMEs. VRIO optimally contributes to competitive advantage if applied together to strengthen one another.
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References
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Furr, N. R., & Eisenhardt, K. M. (2021). Strategy and uncertainty: Resource-based view, strategy-creation view, and the hybrid between them. Journal of Management, 47(7), 1915–1935.
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Kaukab, M. E., Adawiyah, W. R., Setyanto, R. P., & Suroso, A. (2020). Accelerating small firms’ production process improvement through international market knowledge and valuable, rare, inimitable, and organized resources and capabilities. Business: Theory and Practice, 21(1), 322–328.
Lestari, S. D., LEON, F. M., Widyastuti, S., BRABO, N. A., & Putra, A. H. P. K. (2020). Antecedents and consequences of innovation and business strategy on performance and competitive advantage of SMEs. The Journal of Asian Finance, Economics and Business, 7(6), 365–378.
Miller, D. (2019). The resource-based view of the firm. In Oxford Research Encyclopedia of Business and Management.
Ndiaye, N., Razak, L. A., Nagayev, R., & Ng, A. (2018). Demystifying small and medium enterprises’(SMEs) performance in emerging and developing economies. Borsa Istanbul Review, 18(4), 269-281.
Nugraheni, U. G., Hermawan, A., & Kuswanto, S. (2019). Job Satisfaction, Motivation and Commitment to Change of Stated Owned Enterprises Ministry Employee of Indonesia. Asian Social Science, 15(4).
NURHILALIA, N., RAHMAN Kadir, A., MAHLIA, M., JUSNI, J., & ADITYA, H. P. K. P. (2019). Determinant of market orientation on SME performance: RBV and SCP perspective. Journal of Distribution Science, 17(9), 35–45.
Povolná, L. (2019). Innovation strategy in small and medium sized enterprises (SMEs) in the context of growth and recession indicators. Journal of Open Innovation: Technology, Market, and Complexity, 5(2), 32.
Roostika, R. (2019). SMEs craft industry application of resource based view: capabilities role of SMEs performance. Review of Integrative Business and Economics Research, 8, 423–440.
Youssef, A. Ben, Boubaker, S., & Omri, A. (2018). Entrepreneurship and sustainability: The need for innovative and institutional solutions. Technological Forecasting and Social Change, 129, 232–241.
Yudiono, N., Wilopo, W., & Iqbal, M. (2019). VRIO Analysis to Measure E-Business Readiness in the Automotive Industry in East Java (Study on Otobus Company Kalisari and Otobus Company Menggala). Wacana Journal of Social and Humanity Studies, 22(4).
Woźniak, M., Duda, J., Gąsior, A., & Bernat, T. (2019). Relations of GDP growth and development of SMEs in Poland. Procedia Computer Science, 159, 2470-2480.
Abbasi, M., Vassilopoulou, P., & Stergioulas, L. (2017). Technology roadmap for the creative industries. Creative Industries Journal, 10(1), 40-58.
Alzahrani, J. (2018). The impact of e-commerce adoption on business strategy in Saudi Arabian small and medium enterprises (SMEs). Review of Economics and Political Science.
Caballero-Morales, S.-O. (2021). Innovation as recovery strategy for SMEs in emerging economies during the COVID-19 pandemic. Research in International Business and Finance, 57, 101396.
Collins, C. J. (2021). Expanding the resource based view model of strategic human resource management. The International Journal of Human Resource Management, 32(2), 331–358.
Furr, N. R., & Eisenhardt, K. M. (2021). Strategy and uncertainty: Resource-based view, strategy-creation view, and the hybrid between them. Journal of Management, 47(7), 1915–1935.
Virani, T. E., & Malem, W. (2015). Re-articulating the creative hub concept as a model for business support in the local creative economy: The case of Mare Street in Hackney. Creativeworks London Working Paper Series.
González-Díaz, R. R., Acevedo-Duque, Á. E., Santos, L. G.-G., & Cachicatari-Vargas, E. (2021). Business counterintelligence as a protection strategy for SMEs. Entrepreneurship and Sustainability Issues, 8(3), 340.
Hauser, A., Eggers, F., & Güldenberg, S. (2020). Strategic decision-making in SMEs: effectuation, causation, and the absence of strategy. Small Business Economics, 54(3), 775–790.
Kaukab, M. E., Adawiyah, W. R., Setyanto, R. P., & Suroso, A. (2020). Accelerating small firms’ production process improvement through international market knowledge and valuable, rare, inimitable, and organized resources and capabilities. Business: Theory and Practice, 21(1), 322–328.
Lestari, S. D., LEON, F. M., Widyastuti, S., BRABO, N. A., & Putra, A. H. P. K. (2020). Antecedents and consequences of innovation and business strategy on performance and competitive advantage of SMEs. The Journal of Asian Finance, Economics and Business, 7(6), 365–378.
Miller, D. (2019). The resource-based view of the firm. In Oxford Research Encyclopedia of Business and Management.
Ndiaye, N., Razak, L. A., Nagayev, R., & Ng, A. (2018). Demystifying small and medium enterprises’(SMEs) performance in emerging and developing economies. Borsa Istanbul Review, 18(4), 269-281.
Nugraheni, U. G., Hermawan, A., & Kuswanto, S. (2019). Job Satisfaction, Motivation and Commitment to Change of Stated Owned Enterprises Ministry Employee of Indonesia. Asian Social Science, 15(4).
NURHILALIA, N., RAHMAN Kadir, A., MAHLIA, M., JUSNI, J., & ADITYA, H. P. K. P. (2019). Determinant of market orientation on SME performance: RBV and SCP perspective. Journal of Distribution Science, 17(9), 35–45.
Povolná, L. (2019). Innovation strategy in small and medium sized enterprises (SMEs) in the context of growth and recession indicators. Journal of Open Innovation: Technology, Market, and Complexity, 5(2), 32.
Roostika, R. (2019). SMEs craft industry application of resource based view: capabilities role of SMEs performance. Review of Integrative Business and Economics Research, 8, 423–440.
Youssef, A. Ben, Boubaker, S., & Omri, A. (2018). Entrepreneurship and sustainability: The need for innovative and institutional solutions. Technological Forecasting and Social Change, 129, 232–241.
Yudiono, N., Wilopo, W., & Iqbal, M. (2019). VRIO Analysis to Measure E-Business Readiness in the Automotive Industry in East Java (Study on Otobus Company Kalisari and Otobus Company Menggala). Wacana Journal of Social and Humanity Studies, 22(4).
Woźniak, M., Duda, J., Gąsior, A., & Bernat, T. (2019). Relations of GDP growth and development of SMEs in Poland. Procedia Computer Science, 159, 2470-2480.
Published
2022-12-01
How to Cite
Aisyah, H., Puspita, S., & Elizamiharti, E. (2022). RESOURCE-BASED VIEW: STRATEGI UMKM DI SUMATERA BARAT UNTUK MENCAPAI KEUNGGULAN KOMPETITIF. JMD : Jurnal Riset Manajemen & Bisnis Dewantara, 5(2), 109 - 120. https://doi.org/10.26533/jmd.v5i2.1029
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