A Collaboration of Quadruple Helix, Scenario Planning and Flexible Budget in Culinary Business in Facing Uncertainty at Pandemic
Journal Title: Journal of Economics, Finance and Management Studies - Year 2023, Vol 6, Issue 07
Abstract
The number of food and beverage MSEs in East Java with a total of 746,732 occupies the second highest position in Indonesia. But unfortunately, during the pandemic, food and beverage MSMEs (both packaged food and beverage home industries as well as coffee shop businesses, depots and cafes) experienced an average decline of 63%. The condition of uncertainty due to the pandemic, which has forced the Government in each region to periodically issue PPKM policies, according to the level of conditions for the spread of Covid-19, has caused MSME actors to experience income uncertainty. Therefore, to help minimize business losses, it is important to implement scenario-based planning accompanied by setting a budget according to conditions (flexible budget). For example, if the area is at level 4 (100% work from home) then which scenario will be carried out and what is the estimated budget. Meanwhile, the implementation of the Quadruple Helix (government, academics, business people, and communities) will help increase MSME innovation to survive during the pandemic. This article explains the importance of Quadruple Helix collaboration, business scenario planning followed by the preparation of a flexible budget to deal with uncertainty during the pandemic
Authors and Affiliations
Irany Windhyastiti,Umu Khouroh,Eko Aristanto,Syarif Hidayatullah
Keywords
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- EP ID EP727217
- DOI 10.47191/jefms/v6-i7-25
- Views 59
- Downloads 0
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