Creative Industry and Economic Recovery Strategies from Pandemic Disruption

Abstract

This study aims to present a critical review of how economic and financial theory is used as a solution to rise from economic downturn during the pandemic. This article will present the implementation of economic policies and approaches from various countries in the Southeast Asia region in responding to the crisis during the pandemic. This research approach uses an exploratory qualitative research model. The results of this study present and provide an analysis of an event, thought, phenomenon, individual perception, and social activity in responding to a crisis. This study found a uniform approach used by various countries regarding economic recovery policies. Financial stimulus is given to the Small and Medium Enterprises (MSME) sector to revive an economy that is experiencing difficulties. This study also finds a similar pattern related to financial stimulus policies in 6 (six) important sectors. These efforts include: creative industri incentives, road maps, training, and partnerships with investors for development.

Do digital literacy and business sustainability matter for creative economy? The role of entrepreneurial attitude

“…A prior study mentioned that Indonesia's Gross Domestic Product (GDP) currently receives additional income from the creative economy sector contributing IDR 1105 trillion [ 5 ]. Indonesia is ranked third in the world, where the country's GDP contributes to the creative economy sector [ 6 ]. Considering this matter, it is essential to enhance the creative economy sustainability In Indonesia and other countries as its role in providing new job opportunities.…”

Deeper Understanding of Customer Needs Utilizing Customer Relationship Management

“…Loyal customers are likely to engage in constructive verbal interaction about the organization, and they may also make an effort to get other customers to do business with the company [20]. Unwavering quality, responsiveness, ability, access, graciousness, correspondence, validity, security, understanding the client, and physical assets are the determinants of administration quality [6].…”

Enhancements in the Management of Relationships With Customers as a Means of Preserving Sales Performance

“…Limiting the amount of time the limited time offer is available for purchase is another crucial component that is necessary for its success [14]. The duration of time for which a promotion is available should be limited by the company in order to encourage consumers to make more purchases in a shorter amount of time [15]. The organization has the ability to provide its customers with benefits for cooperating with the organization.…”