Open AccessResilience of micro, small and medium enterprises (MSMEs) through the COVID-19 pandemic
Author(s) -
Ida Ayu Made Dian Puspitarini,
Nyoman Djinar Setiawina
Publication year - 2022
Publication title -
international journal of business, economics and management
Language(s) - English
Resource type - Journals
ISSN - 2632-9476
DOI - 10.21744/ijbem.v5n2.1886
Subject(s) - business cycle , recession , resilience (materials science) , business , covid-19 , business continuity , small and medium sized enterprises , business environment , business model , psychological resilience , industrial organization , marketing , computer science , economics , business administration , computer security , finance , infectious disease (medical specialty) , medicine , physics , disease , pathology , keynesian economics , thermodynamics , psychology , psychotherapist
The MSME support movement in Indonesia is welcomed by business people, especially for young entrepreneurs or the home industry, which continues to grow rapidly and independently. At the beginning of 2020, the Covid-19 outbreak that occurred globally in almost all parts of the world, including in Indonesia, had triggered negative sentiment towards various lines of business, especially the MSME business. The negative impact due to Covid-19 has hampered the growth of the MSME business where the movement of MSME businesses that require showrooms or promotions is hindered. In reorganizing the weakening economic conditions of MSMEs or the Covid recession, it is necessary to manage the business cycle in a Management Busines Cycle, considering that the business environment is very dynamic, so that the business cycle must always be evaluated and improved so that the business can survive and develop. The concept of OODA loop is the concept of iterative analysis to determine the decision of a problem. OODA stands for Observe, Orien, Decide and Act. The term circle or loop because in this concept all processes are repeated until the decisions taken are effective and able to have a significant impact in dealing with problems.