Encouraging entrepreneurship and new business management: A model for creating industry leaders

https://doi.org/10.35912/ahrmr.v5i2.3475
Published: Jun 30, 2025

Abstract:

Purpose: This study aims to identify and propose an entrepreneurship and new business management model relevant for cultivating future industry leaders. The research emphasizes comparative insights into regional entrepreneurial ecosystems, focusing on Bandung Raya and Tasikmalaya Raya, to highlight strengths, weaknesses, and opportunities for balanced regional development.

Methodology: The study adopts a quantitative and comparative design, analyzing survey data from 76 respondents representing multiple sectors. Using descriptive statistics and ecosystem benchmarking, the research evaluates six domains of the entrepreneurial ecosystem finance, policy, culture, support, human capital, and market access to assess regional variations and strategic needsl.

Results The collected data show that Bandung excels in entrepreneurial culture (84.20%), regulatory policy (81.25%), workforce (78.98%), and market access (85.23%), while Tasikmalaya Raya leads in ecosystem support (84.38%) but faces challenges in access to finance (71.25%) and markets (68.13%).

Conclusions: The results confirm that entrepreneurial ecosystem disparities significantly affect business sustainability. Bandung’s mature ecosystem offers competitive advantages, while Tasikmalaya’s strong social support is insufficient to compensate for structural gaps in finance and human capital.

Limitations: The study is limited to two regions in West Java, restricting generalizability. It also relies on self-reported survey data, which may introduce bias.

Contribution: Therefore, enhancement strategies are required, including strengthening financial access, improving human resource quality, as well as digitalization and market expansion for entrepreneurs in Tasikmalaya Raya. With these measures, the entrepreneurial ecosystems in both regions can develop more evenly and contribute to overall regional economic growth.

Keywords:
1. Entrepreneurial Ecosystem
2. Financial Access
3. Market Development
4. Regional Entrepreneurship
Authors:
Sonny Rustiadi
Institut Teknologi Bandung, Jawa Barat, Indonesia
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Rustiadi, S. (2025). Encouraging entrepreneurship and new business management: A model for creating industry leaders. Annals of Human Resource Management Research, 5(2), 301–312. https://doi.org/10.35912/ahrmr.v5i2.3475
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Vol. 5 No. 2 (2025): June
Articles
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References

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    Sihombing, L. A., Suharno, Kuleh, & Hidayati, T. (2023). The Effect of Price and Product Quality on Consumer Purchasing Decisions through Brand Image. International journal of finance, economics and business, 2(1), 44-60. doi:https://doi.org/10.56225/ijfeb.v2i1.170

    Sobaih, A. E. E., & Elshaer, I. A. (2022). Personal Traits and Digital Entrepreneurship: A Mediation Model Using SmartPLS Data Analysis. Mathematics, 10(21), 1-19. doi:https://doi.org/10.3390/math10213926

    Susiang, M. I. N. (2024). Business Incubators in the Entrepreneurship Ecosystem in Indonesia Mediated by Government Support and Intellectual Capital. Commercium : Journal of Business and Management, 2(2), 67-81. doi:https://doi.org/10.61978/commercium.v2i2.215

    Wyrwich, M., Stuetzer, M., & Sternberg, R. (2016). Entrepreneurial Role Models, Fear of Failure, and Institutional Approval of Entrepreneurship: A Tale of Two Regions. Small Business Economics, 46(3), 467-492. doi:https://doi.org/10.1007/s11187-015-9695-4

  1. Badrun, Sugiarto, F., Rachmadhani, A., & Hendra. (2022). Principal's Leadership Strategy in Strengthening Character Education. Edukasi Islami: Jurnal Pendidikan Islam, 11(1), 967-974. doi:https://doi.org/10.30868/ei.v11i01.2290
  2. Basir, K. H. (2022). Business Innovation Amid the COVID-19 Crisis in Brunei Darussalam: A Viewpoint Strategic Entrepreneurial Ecosystems and Business Model Innovation (pp. 31-40). Leeds: Emerald Publishing Limited.
  3. Capatina, A., Juarez-Varon, D., Micu, A., & Micu, A. E. (2024). Leveling Up in Corporate Training: Unveiling the Power of Gamification to Enhance Knowledge Retention, Knowledge Sharing, and Job Performance. Journal of Innovation & Knowledge, 9(3), 1-15. doi:https://doi.org/10.1016/j.jik.2024.100530
  4. Chaudhary, S., Kaur, P., Ferraris, A., Bresciani, S., & Dhir, A. (2024). Connecting Entrepreneurial Ecosystem and Innovation. Grasping at Straws or Hitting a Home Run?. Technovation, 130, 1-14. doi:https://doi.org/10.1016/j.technovation.2023.102942
  5. Creswell, J. W. (2019). Research Design: Pendekatan Metode Kualitatif, Kuantitatif dan Campuran. Yogyakarta: Pustaka Pelajar.
  6. Dwivedi, Y. K., Ismagilova, E., Hughes, D. L., Carlson, J., Filieri, R., Jacobson, J., . . . Krishen, A. S. (2021). Setting the Future of Digital and Social Media Marketing Research: Perspectives and Research Propositions. International International Journal of Information Management, 59, 1-37. doi:https://doi.org/10.1016/j.ijinfomgt.2020.102168
  7. Effendi, J. (2023). Human Resources Readiness of Small Medium Enterprises (SMEs) for Halal Product in Indonesia. Global review of islamic economics and business, 10(2), 83-95. doi:https://doi.org/10.14421/grieb.2022.102-08
  8. Ghanad, A. (2023). An Overview of Quantitative Research Methods. International journal of multidisciplinary research and analysis, 6(8), 3794-3803. doi:https://doi.org/10.47191/ijmra/v6-i8-52
  9. Hartini, Wijaya, R., Yusran, H. L., Murwonugroho, W., Siswanto, T., & Buchori, A. (2022). Improving The Ability of E-Business-Based Business Management in The Entrepreneurial Community. Jurnal Pemberdayaan Masyarakat Madani (JPMM), 6(2), 196-213. doi:https://doi.org/10.21009/JPMM.006.2.01
  10. Herawati, A. R., Pradana, A. E., & Shariffuddin, N. S. M. (2024). Indonesia Public Service Reform: Innovation Through Bureaucratic Entrepreneurship. Iapa Proceedings Conference, 113-133. doi:https://doi.org/10.30589/proceedings.2024.1100
  11. Januari, A. T., Satrio, S. N. D., & Ariyanto, Y. (2024). Digital Transformation of Sharia MSMEs in Cultivating an Entrepreneurial Spirit in the Digital Economy Era. AL-QARDH, 9(2), 82-92. doi:https://doi.org/10.23971/jaq.v9i2.8984
  12. Kapturkiewicz, A. (2022). Varieties of Entrepreneurial Ecosystems: A comparative Study of Tokyo and Bangalore. Research policy, 51(9), 1-18. doi:https://doi.org/10.1016/j.respol.2021.104377
  13. Kopren, A., & Westlund, H. (2021). Bridging versus Bonding Social Capital in Entrepreneurs’ Networks: The Case of Post-Conflict Western Balkans. Sustainability, 13(6), 1-18. doi:https://doi.org/10.3390/su13063371
  14. Kotronoulas, G., Miguel, S., Dowling, M., Fernández-Ortega, P., Colomer-Lahiguera, S., Ba?çivan, G., . . . Dieperink, K. B. (2023). An Overview of the Fundamentals of Data Management, Analysis, and Interpretation in Quantitative Research. Seminars in Oncology Nursing, 39(2), 1-9. doi:https://doi.org/10.1016/j.soncn.2023.151398
  15. Murdjoko, Wahyu, & Saleh, M. (2025). Management of Professional Learning Community Model: A Multi-Site Case Study. Curricula: Journal of Curriculum Development, 4(2), 1079-1092. doi:https://doi.org/10.17509/curricula.v4i2.87399
  16. Oltulular, S. (2025). Human Capital Dynamics Are the Key to Economic Growth: Source of Value of the Future. Economies, 13(8), 1-26. doi:https://doi.org/10.3390/economies13080235
  17. Purbasari, R., Wijaya, C., & Rahayu, N. (2021). Identifikasi Aktor dan Faktor dalam Ekosistem Kewirausahaan: Kasus pada Industri Kreatif di Wilayah Priangan Timur, Jawa Barat. AdBispreneur: Jurnal Pemikiran Dan Penelitian Administrasi Bisnis Dan Kewirausahaan, 5(3), 241-262. doi:https://doi.org/10.24198/adbispreneur.v5i3.29003
  18. Rakib, M., Yunus, M., & Amin, N. (2018). Creative Industry Development Based on Entrepreneurship Training in Developing Local Economy in Parepare City. Oikos: Jurnal Kajian Pendidikan Ekonomi dan Ilmu Ekonomi, 2(1), 32-46. doi:https://doi.org/10.23969/oikos.v2i1.923
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  20. Setiawan, B., Nugraha, D. P., Irawan, A., Nathan, R. J., & Zoltan, Z. (2021). User Innovativeness and Fintech Adoption in Indonesia. Journal of Open Innovation: Technology, Market, and Complexity, 7(3), 1-18. doi:https://doi.org/10.3390/joitmc7030188
  21. Shirazi, A., & Mohamadi, S. (2018). A Crosscountry Comparative Study of Entrepreneurship Ecosystem Using the Metafrontier Malmquist Method. Management Science Letters, 8(6), 631-648. doi:http://dx.doi.org/10.5267/j.msl.2018.4.028
  22. Sihombing, L. A., Suharno, Kuleh, & Hidayati, T. (2023). The Effect of Price and Product Quality on Consumer Purchasing Decisions through Brand Image. International journal of finance, economics and business, 2(1), 44-60. doi:https://doi.org/10.56225/ijfeb.v2i1.170
  23. Sobaih, A. E. E., & Elshaer, I. A. (2022). Personal Traits and Digital Entrepreneurship: A Mediation Model Using SmartPLS Data Analysis. Mathematics, 10(21), 1-19. doi:https://doi.org/10.3390/math10213926
  24. Susiang, M. I. N. (2024). Business Incubators in the Entrepreneurship Ecosystem in Indonesia Mediated by Government Support and Intellectual Capital. Commercium : Journal of Business and Management, 2(2), 67-81. doi:https://doi.org/10.61978/commercium.v2i2.215
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