*3.5. Analysis Results*

With a loading factor value of 0.50 and no multicollinearity issues, 17 of the 36 indicators under examination pass the convergent validity test, according to the assessment outer model (Table 1). The study model was cleared of the indicators FL1, FL3, FL4, FL5, SO1, SO2, SO3, SO6, SO7, SO8, SO11, SO12, SI1, SI4, NS1, NS3, and NS5. In the discriminant validity test, every latent variable had an AVE value greater than 0.50. Figure 3 depicts the final model.

#### **Figure 3.** Final Model.

All the latent variables in the composite reliability test were known to have alpha Cronbach values of 0.60, and those variables matched the requirements for the composite reliability test. This follows the concept that the study model can be accepted as valid and credible by eliminating the eleven variables. The inner model was assessed by analyzing the R-square and path coefficient values. In addition, this model used the R-square value to determine how much an exogenous variable would influence an endogenous variable.

The test results showed that 71.5% of the variability in resource orchestration can be accounted for by the input segment's R-square value, including the variables for environmental conditions, organizational resources, and individual resources (Table 6). Sixty-six percent of the elements influencing value and competitive advantage in the process segment can be attributed to the resource orchestration variable. In the output sector, 42.4% of the creating performance variable may be attributed to both competitive advantage and creating value.

**Table 6.** Result of R-Square.


Source: Compiled by the author.

The original sample value, *p* value, and t-statistic values were generated by the significance test of the route coefficient using the bootstrapping technique to examine the research model and research hypothesis. The initial sample values made it clear how the variables related to others. When the variable had a positive influence, it went from being negative to positive, and vice versa. The t-statistic value could be used to calculate the significance of a hypothesis test. The hypothesis was supported because the *p* value was less than 0.05. The route coefficient value, which shows the relationship between all variables, is shown in Table 7.

**Table 7.** Path Coefficients.


Source: Compiled by the author.

According to the test results, environmental factors have a considerable impact on orchestration resources since the *p* value is lower than 0.005, which is 0.030; therefore, hypothesis 1 is accepted. Organizational resources have no discernible impact on orchestration resources because the *p* value of 0.354, which is higher than 0.005, indicates that H2 cannot be accepted. Hence, individual resources have a favorable and considerable impact on orchestration resources. Moreover, the *p* value of H3 being lower than 0.005, which is 0.000, indicates that H3 is accepted.

Thus, it can be concluded that resource orchestration significantly affects value creation and competitive advantage. The *p* value of H4 is also less than 0.005, proving that H4 is accepted. The *p* value of H5 being substantially lower than 0.005 shows that H5 is accepted. Thus, providing value and gaining a competitive edge have a favorable impact on production performance.

The test results of this research are similar to those of previous empirical studies, and show that environmental conditions significantly affect resource orchestration in the input segment. The entrepreneur's local, physical, psychological, and social environments make up their environment (Grundstén 2004). Environmental circumstances might affect an entrepreneur's ability to compete and build company procedures in one of two ways: either as strength or weakness. It is necessary for entrepreneurs in the fish processing business sector to make efforts to recognize changes in the business environment if they are to maximize their ability to turn environmental influences into strengths.

Additionally, it is vital to comprehend the degree of complexity of marketing, service, and operational processes as well as the resources available to satisfy the needs of resources utilized in fish processing business processes (Revilla et al. 2011). Based on the findings of the descriptive study, it is still difficult for women-owned fish processing firms in Cibinong District, Bogor Regency to discover specific information about how to obtain finance from banks or investors.

There are two key components in organizational resources: entrepreneurial attitude, and entrepreneurial culture (Ireland et al. 2003). The business owner or leader plays a particularly substantial part in preparing management and staff to implement a culture that fosters the growth of both employees' abilities and the application of ideas and innovations in retail (Utoyo et al. 2020). On the other hand, an entrepreneur can develop fresh resources that produce wealth, or endow existing resources to do so.

Employees will be motivated to adopt an entrepreneurial mindset, which is essential to the success of the company, not simply as a result of an entrepreneurial environment's ability to inspire innovation (Cho and Lee 2018). This will have an impact on how effectively and efficiently the fish processing unit's resources are managed. The results of the descriptive study, however, indicate that women-owned fish processing businesses in Cibinong District, Bogor Regency are still not doing the best job of giving their employees the opportunity to take chances with their responsibilities and authority at work.

The impact of the individual resource variable on resource orchestration was shown to be both favorable and significant. This demonstrates that women-owned fish processing businesses in Cibinong District, Bogor Regency, tend to be less than ideal at managing information about market development to find new opportunities and less than ideal at evaluating the benefits and drawbacks of proposed product innovations. According to the researchers, this is due to management being dominated by people between the ages of 41 and 50 who are high school graduates and whose experience and skills are insufficient, particularly in retail management connected to decision-making and strategic management.

According to the findings of the descriptive study, the women's business processing unit in Cibinong District, Bogor Regency, is still not doing the best job of managing information opportunities in the region's fish processing industry. Women-run fish processing businesses must focus on the cooperative operation of organizational and personal factors and the combination of individual and organizational elements.

Value creation and competitive advantage are significantly impacted by the resource orchestration variable. To determine the strategy used in the application of producing value and competitive advantage in retail, it is crucial to identify, create portfolios, group, improve, and enhance the competence of resources owned by retailers. Additionally, a combination of input groups will offer shops various tactics they can use. Based on the findings of the descriptive analysis, it can be concluded that the women-owned fish processing businesses in Bogor Regency have not given their resources the necessary attention. Therefore, it is essential to provide programs that assist staff in developing their knowledge and skills.

Performance creation is positively impacted by the variables providing value and competitive advantage. This demonstrates how efforts to improve product competitiveness and consumer value have a significant impact on performance creation. This is in line with the strategic entrepreneurship paradigm (Hitt et al. 2011). Effective strategic entrepreneurship would aid businesses in gaining an edge over rivals and adapting to environmental changes, which would benefit businesspeople, organizations, and societies overall, and have a considerable positive impact on economic performance (Awang et al. 2015).

#### *3.6. Managerial Implications*

The managerial ramifications of this study were used to enhance the strategic entrepreneurship management effectiveness of female MSMEs in fish processing units in Bogor Regency. Based on the lowest average descriptive analysis result, an analysis of the impact of strategic entrepreneurship implementation in input segments could be developed.

The most substantial impact on resource orchestration came from individual resources. For MSMEs, problems in the dynamic environment include fiercer and more widespread competition as well as client demands for the quality of various services and goods. Therefore, entrepreneurs must develop a vision toward positive transformation and innovation. Thus, they must enhance their organizational capabilities if they want to survive and expand their business.

They should increase their organization's capacity for accepting, authorizing, and embracing constructive change. Therefore, it is important to modify how those involved in the transformation process perceive one another. Organizational reform is necessary for the benefit of both the organization and its personnel (worthiness).

Briefing and sharing sessions with stakeholders and staff could be used to implement this kind of change. By creating a good work environment that can foster employees' creativity and independence in submitting innovative ideas, they could establish an innovative culture to produce innovations in new goods and processes.

Entrepreneurs must enhance organizational capacities so that organizations may better utilize their assets, personnel, and operational procedures. To explore the competencies required and the resources that should be gathered or maintained, they must have a systematic framework. Human resources (HR) are crucial to the success of managing strategic entrepreneurship by enhancing organizational capabilities. To encourage business actors to be more competitive, they must upgrade their skills, particularly in HR management, by integrating HR into training programs, exhibition events, entrepreneurship seminars, and technical guidance (Dewi 2020).

### **4. Discussion**

H2 was taken into consideration, and it was found that the *p* > 0.05 did not reach the level of significance. This finding led to the rejection of the premise that organizational resources significantly affect resource orchestration for women-owned fish processing businesses in Cibinong District, Bogor Regency. This suggests that strategic entrepreneurship management significantly affects MSMEs' capacity for innovation.

The research verified a significant relationship between resource orchestration, value creation, and competitive advantage for MSME performance. According to the research, businesses would have a better chance of enhancing the quality of their products if resource orchestration management effectively positioned its resource portfolio, improved human resources, and integrated the use of opportunity- and advantage-seeking behavior. This result is consistent with Porter Diamond's national advantage argument. The findings are in line with the theory advanced by Hitt et al. (2001), Hughes et al. (2021), Okoi et al. (2022) and Utoyo et al. (2020) that organizational performance has an impact on both direct and indirect resource management.

The total cost of investing in human capital is greater than the value of the results generated, or the cost of investing in human capital is greater than the results produced. The resource-based perspective also assumes that when MSME resources are objectively maximized, shareholder value will also be maximized. The findings support Okoi et al.'s (2022) claim that by nurturing a certain culture, knowledge, and abilities within an MSME, human capital management strategies inside the organization will play a crucial role in the maintenance of competitive advantage over competitors.

Additionally, the Porter Diamond Model of National Advantage is connected to the result. This result disproves the notion that innovative entrepreneurship has no measurable effect on MSME performance. This implies that entrepreneurship innovation has a major impact on the performance of MSMEs. The study provided evidence that there is a significant connection between entrepreneurial value and competitive advantage and MSME performance (Latianingsih et al. 2022; Okoi et al. 2022).

According to the findings, if new ideas are fostered and a paradigm shift is noticed, the organization's sales volume and profits will experience a boost, elevating the performance of the MSME. The results are consistent with the theory that entrepreneurial innovation is the readiness to encourage imagination and experimentation within the firm, as well as the utilization of technological leadership and R&D. Customers become aware of the worth of the goods or services given because of the innovation (Lumpkin and Dess 2001).

The performance of Cibinong's women-owned fish processing MSMEs during the pandemic period and the entrepreneurial component of strategic entrepreneurship are positively associated. During such periods, entrepreneurs face considerable risks that affect their financial situation and, ultimately, their capacity to survive (Kunc and Bandahari 2011; Pal et al. 2014). However, significant economic shocks can encourage the adoption of new business models and technologies (Brodherson et al. 2017) and present new opportunities (Beliaeva et al. 2020; Hausman and Johnston 2014; Pearce and Michael 2006). Therefore, new products, services, and business models are tested by women owners of fish processing MSMEs in Cibinong, which tend to be less affected by economic downturns.

According to studies using data from developed and emerging economies, rising economic pressure frequently encourages businesses to adopt innovative choices that have a favorable impact on their financial performance (Beliaeva et al. 2020; Hausman and Johnston 2014). Innovative companies also improve their market share and dominance (Pearce and Michael 2006; Guellec and Wunsch-Vincent 2009). Therefore, business decisions are crucial in times of crisis and become important success elements for MSMEs (Sahut and Peris-Ortiz 2014). In contrast, neither the performance of businesses nor the strategic element of SE, nor the industry-specific actions taken by Cibinong's MSME businesswomen during the COVID-19 epidemic, were found to be statistically associated.

The proposed strategic concept of entrepreneurship within the context of strategic management theory, with a focus on individual strategic entrepreneurship components (environmental factors, individual resources, resource orchestration, and competitive advantage) as well as the analysis of small and medium enterprises' activities in the context of economic crises, constitutes the study's theoretical originality. This study specifically sought to show that there is a noticeable difference in the link between strategic entrepreneurship and MSME performance during tumultuous times and stable economic conditions. By examining MSME strategic behavior in a sustainable context, for instance, it is possible to draw the conclusion that business owners should combine a number of different strategic stances to obtain the best results (Atuahene-Gima and Ko 2001; Bayiley and Behaylu 2022; Deutscher et al. 2016; Ho et al. 2016).

Given the period of time it was conducted and the characteristics of the sample, this study also presents a distinctive contribution regarding MSMEs in Cibinong District, Bogor Regency during the COVID-19 pandemic of 2019–2021. Due to management's cognitive biases in their view of companies' historical conduct, research on post-crisis business strategies runs the risk of being prejudiced and unreliable (Bao et al. 2011). The results are also applicable to all businesses that fit the selection criteria because the sample of domestic companies was representative.

The identified methods of managing MSMEs that ensure a firm performs at its best during the COVID-19 pandemic are of practical value to top managers, MSME decisionmakers, and those in charge of creating and implementing strategies. It is crucial for MSME managers to understand that combining SE components—which improves performance in stable circumstances—can have detrimental effects during economic crises. In the latter scenario, they should concentrate on encouraging entrepreneurial behavior, which typically entails creativity, a readiness to take calculated risks when creating new goods and services, and the proactive pursuit of and use of new business prospects (Cho and Lee 2018; Soininen et al. 2012).

#### **5. Conclusions and Implications**

#### *5.1. Conclusions*

In this study, the performance of MSMEs in Cibinong District, Bogor Regency, was compared to the impact of strategic entrepreneurship strategies. Environmental factors, individual resources, resource orchestration, and competitive advantage were the four strategic entrepreneurship practices that could enhance the performance of small and medium-sized enterprises selected for study.

The results from the analyses showed that the input characteristics of environmental variables, organizational resources, and personal resources are in the 'excellent' category. This demonstrates that the implementation of strategic entrepreneurship in women-owned fish processing MSMEs in Bogor Regency has been proceeding well. The orchestration resource displayed an average ranking in the excellent category in the process dimension. In terms of output, the competitive edge, value creation, performance creation, and other benefits all had averages that fell into the excellent category. As a result, strategic entrepreneurship management in food-related MSMEs in Bogor Regency was already performing quite well.

The interaction of the strategic entrepreneurship variables demonstrated that the environment and individual resources had a favorable and significant impact on resource orchestration. Resource management had an impact on the development of competitive advantage. The production of performance and benefits for people, organizations, and society were also impacted by competitive advantage.

Based on the study's findings, it is determined that MSME management should strategically structure its resource portfolio, invest in human capital, and integrate by projecting both opportunity- and advantage-seeking behaviors to update its quality goods. Managers of MSMEs should be aware that entrepreneurial innovation and strategic resource management play a significant role in determining MSME performance since they foster creativity, introduce cutting-edge technology, and promote R&D activities that increase an organization's profitability.

#### *5.2. Limitations and Future Research*

Certain limitations should be considered when evaluating these findings. The first point is that the cross-sectional data used reflect recent business performance. The long-term effect of strategic entrepreneurship on the fish processing performance of women-owned MSMEs may be a topic for future studies. Second, the primary dependent variable in the study was managers' individual perceptions of the activities of the organizations, which was a subjective indication of such activities. Despite the approach's dependability, more research is needed to clarify the outcomes.

Third, we solely considered the direct impacts of strategic entrepreneurship components or their mixtures. The authors of future studies could decide to concentrate on other factors that moderate the relationship between strategic entrepreneurship and corporate performance. It may also be necessary to conduct replication studies employing a variety of samples, such as those made up of huge businesses and state-owned corporations.

#### *5.3. Policy Implications*

Fish processing in Bogor Regency is one of the most important contributors to the region's economic growth; thus, it is necessary for the government to maintain and generate the development of this business. Since environmental factors, individual resources, resource orchestration, and creating value and competitive advantages are essential factors in increasing the performance of micro, small, and medium fish processing enterprises in the Bogor Regency, the government should consider several policy recommendations related to these factors.

The first policy recommendation is to provide training for businesswomen to enhance product quality and produce differentiated products, including branding and packaging. The second policy is to promote the entrepreneurial mindset of businesswomen by providing capacity building and training. The third policy is to improve market access for their processed fish products by promoting these products at exhibitions and on government websites or social media. The last policy is to provide easy access to credit for businesswomen by providing credit terms and publishing credit recommendations. In addition, the local government should collaborate with banks, especially local banks, to provide low-interest credit.

**Author Contributions:** Conceptualization, A.A.Y.; methodology, A.A.Y., E.R. and R.; investigation, A.A.Y.; resources, A.A.Y.; writing—original draft preparation, A.A.Y.; writing—review, A.A.Y., E.R. and R.; and editing, E.R. and R. All authors have read and agreed to the published version of the manuscript.

**Funding:** This research received no external funding.

**Institutional Review Board Statement:** Not applicable.

**Informed Consent Statement:** Not applicable.

**Data Availability Statement:** Not applicable.

**Acknowledgments:** Directorate of Research and Community Service (DRPM) Universitas Padjadaran.

**Conflicts of Interest:** The authors declare no conflict of interest.
