STRATEGIES TO ENHANCE THE BUSINESS COMPETITIVENESS OF MSMES : THE CASE OF NOGOSARI KNITTING BUSINESS UNIT IN PROMOTING JOB CREATION AND SUSTAINABLE ECONOMIC GROWTH
Keywords:
MSME, Financial literacy, Entrepreneurship, Strategic Management BusinessAbstract
This community engagement program aims to strengthen the competitiveness of MSMEs through the case of Rajut Nogosari, a local knitting business unit in Wukirsari Village, Indonesia. The objectives are to enhance digital financial literacy, entrepreneurial capacity, and strategic business development to support sustainable economic growth and job creation. The program adopted a participatory and collaborative approach, involving activities such as training, mentoring, technology implementation, and continuous evaluation. Qualitative methods including in-depth interviews and participant observation were employed to explore the challenges and needs of MSME actors. Thematic analysis revealed key findings in three domains. First, digital financial literacy training led to improved financial recording and awareness of financial projections. Second, the implementation of digital marketing strategies facilitated greater market reach and brand awareness, transitioning from traditional selling to an online presence. Third, the program contributed to the development of human resources by fostering innovation, fair labor practices, and performance-based incentives. Furthermore, the active participation of local entrepreneurs fostered a sense of ownership and facilitated horizontal innovation diffusion within the community. These findings suggest that strengthening MSMEs' internal capacities through targeted digital and entrepreneurial interventions can significantly improve their adaptability, sustainability, and resilience in competitive markets.
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