Innovation is desperately needed for all sectors facing the 4.0 industrial revolution, including the Micro, Small, and Medium Enterprises (UMKM). This topic was discussed in the research presented by Sandiaga Salahuddin Uno, businessman and politician, as a student of UPH Management Doctorate Program, and two research colleagues from UPH. The research was presented in the International Conference on Global Innovation and Trends in Economy (InCoGITE) that was held on 7 November 2019 at UPH Lippo Village campus.

Other than Sandiaga, there were more than fifty researchers who presented their research at this conference. InCoGITE 2019 was conceived by three big universities of Tangerang, which are UPH, UMN, and SGU. This year was the first time the event was held and in 2020, the event will be held at SGU. InCoGITE will focus on innovation and trends in the economy.

Sandiaga, as the main researcher, delivered his research that focuses on UMKM with the title “The Effect of Entrepreneurial Values and Entrepreneurial Orientation on the Micro, Small, and Medium Business’s Financial Performance.”

Sandiaga said, “In this research, we observe that UMKM needs innovation, risk-taking, and proactiveness to take the chance. This will decide the success of our economy is facing the 4.0 industrial revolution. This is all related to the spirit of entrepreneurship or entrepreneurial orientation.”

According to him, the 4.0 industrial revolution involved digitalization that stretches over many layers. Therefore, the UMKM sector must adapt and follow technological development trends in order to achieve the goal of the 4.0 industrial revolution.

Sandiaga added, “This can be done through training in the form of networking and collaboration between UMKM businesses. If they can adapt to technology faster, their abilities to innovate and compete will increase, therefore realizing the aim of the 4.0 industrial revolution.”

The research conducted by Sandiaga Uno is a combination of three variables comprised of entrepreneurial values, entrepreneurial orientation, and financial performance. It takes 32 samples of UMKM as its research subjects. The research produced a positive correlation between the variables.

At the end of his explanation, he emphasized the importance of UMKM businesses to adopt technological innovations so that they will be more efficient and so that UMKM and its competitiveness will improve.

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