Exploring the Success Factors of Hybrid Micro-Enterprises

Abstract

This research explores hybrid micro-entrepreneurs' founding motivations and the transformation of those motivations into visions of success, by applying multiple criteria decision analysis (MCDA). We find that entrepreneurs of hybrid micro-enterprises are driven mostly by noneconomic goals and that those influence their vision of success. The success framework consists of seven indicators (training, professional development, marketing, management, external factors, infrastructures, and organizational aspects). Human capital is perceived as the most important for success -translating the professional motivations for founding. Reversely, external factors, which are usually considered crucial to attain legitimacy, are perceived the least important factors. Given the findings, are hybrid micro-entrepreneurs ready to succeed?

Take Advantage of Tourism Development Opportunities Through Hybrid Business Activities in Indonesia

“…Based on research results Bicho et al (2017), several factors that can support the success of hybrid marketing are product brands, product strengths, product competitiveness, the products offered must be in accordance with consumer desires. Then the combination of marketing models is a combination of traditional marketing models that have been carried out by micro entrepreneurs and combined with new marketing methods that are more modern and adopt advanced technology.…”