Main Article Content
Abstract
This training aims to identify the understanding of Catholic youth at St. Peter and Paul Parish, Kabanjahe, regarding Successful Business Planning Strategies in relation to Product Management and Business Success Factors. The training was conducted through the stages of planning, preparation, implementation, and evaluation. The products produced by the training participants were categorized as Good, with an average score of 377. The comprehension test showed a t-statistic value of 4.652 for the influence of Successful Business Planning Strategies on Product Management, and 15.960 for Business Success Factors, both exceeding the established t-table value. These results indicate that this community service activity plays an important role in enhancing Catholic youth’s understanding of business strategies and success, which is expected to support economic self-sufficiency at St. Peter and Paul Parish, Kabanjahe.
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References
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References
Al Mahmud, A., Rahman, M. M., & Sultana, R. (2022). Community support and young entrepreneurs: An empirical study on the sustainability of small businesses in Bangladesh. Journal of Small Business Management, 60(3), 621–643. https://doi.org/10.1080/00472778.2021.1895620
Al Mamun, A., Gazi, M. R., & Rahman, M. M. (2018). Factors influencing small business success in Bangladesh. In Journal of Business Research (Vol. 87). https://doi.org/10.1016/j.jbusres.2017.03.001
Arora, A., & Nandkumar, A. (2020). Sustainable product innovation and competitive advantage: The moderating role of market orientation. International Journal of Production Economics, 227, 10765. https://doi.org/10.1016/j.ijpe.2019.107658
Brinckmann, J., Salomo, S., & Gemuenden, H. G. (2019). (2019). Beyond business planning: The impact of strategic planning on innovation and performance. Journal of Small Business Management, 57(4), 1587–1612. https://doi.org/10.1111/jsbm.12450
Fill, C., & Turnbull, S. (2016). Marketing Communications: Contexts, Strategies and Applications. Pearson.
Gagne, M. (2018). The role of business planning in organizational success: A comprehensive overview. Journal of Business Research, 86, 149–157. https://doi.org/10.1016/j.jbusres.2017.03.002
Haffar, M., Murtaza, S., & Lioyd, G. (2020). The role of business planning in the success of small and medium enterprises.The role of business planning in the success of small and medium enterprises. Journal of Entrepreneurship in Emerging Economies, 12(1), 65–82. https://doi.org/10.1108/JEEE-04-2019-0056
Jansen, J. J. P., Van den Bosch, F. A. J., & Volberda, H. W. (2016). Managing potential and realized absorptive capacity: How do organizational antecedents matter? Academy of Management Journal. 59(2), 295-316. https://doi.org/10.5465/amj.2013.0262
Keller, K. L. (2020). Strategic Brand Management: Building, Measuring, and Managing Brand Equity. Pearson.
Kocak, A., Kucukemiroglu, O., & Duman, T. (2020). Strategic responsiveness in uncertain environments: The role of dynamic capabilities. International Journal of Business and Management, 15(6), 74–84. https://doi.org/10.5539/ijbm.v15n6p74
Kotler, P., & Keller, K. L. (2016). Marketing Management (15th ed.). Pearson.
Kratzer, J., Leischnig, A., & Schmid, B. (2018). The role of collaboration in innovation processes: Evidence from small and medium-sized enterprises. Journal of Business Research, 91, 393–404. https://doi.org/10.1016/j.jbusres.2018.06.034
Kumar, V., Anand, A., & Gupta, S. (2020). (2020). Success factors for entrepreneurship in the emerging markets: A study on young entrepreneurs. International Journal of Emerging Markets, 15(5), 865–879. https://doi.org/10.1108/IJoEM-09-2019-0403
Liu, X., Zhang, Y., & Zhang, J. (2021). The adaptability of business models to local conditions: Evidence from Chinese SMEs. International Journal of Entrepreneurial Behavior & Research, 27(5), 1283–1301. https://doi.org/10.1108/IJEBR-02-2020-0075
Mulyana, A. (2018). Local business models: The significance of local context in entrepreneurship. Journal of Entrepreneurship in Emerging Economies, 10(1), 56–69. https://doi.org/10.1108/JEEE-04-2017-0027
Nawi, N. M., Tan, L. M., & Rahman, A. (2019). The influence of religious values on the business practices of Muslim entrepreneurs: A review. International Journal of Business and Society, 20(1), 141–158. https://doi.org/10.33736/ijbs.2476.2019
Opara, L. . (2018). Business Planning as a Tool for Ensuring Business Success: A Study of Some Selected Small Scale Enterprises in Nigeria.
Orazem, P. F., Paterno, M., & Wang, Y. (2019). The role of business strategy and marketing in entrepreneurial success. Small Business Economics. 52(2), 407–426. https://doi.org/10.1007/s11187-017-9890-1
Poon, W. C., Chiu, R. K., & Lee, M. S. (2021). The role of entrepreneurial characteristics and environmental factors in young entrepreneurs’ performance. Journal of Entrepreneurship in Emerging Economies, 13(2), 226–244. https://doi.org/10.1108/JEEE-04-2020-0073
Raut, R. D., Mangla, S. K., & Singh, S. (2020). Role of innovation in determining the success of small and medium enterprises. International Journal of Production Economics, 221, 10748. https://doi.org/10.1016/j.ijpe.2019.107489
Setiawan, R., Purwanto, A., & Rakhmawati, S. (2020). The impact of social support on the entrepreneurial success of young entrepreneurs: A study in Indonesia. Journal of Entrepreneurship Education, 23(1), 1–14. https://www.abacademies.org/articles/the-impact-of-social-support-on-the-entrepreneurial-success-of-young-entrepreneurs-a-study-in-indonesia-8650.html
Su, Y., Xu, X., & Huang, W. (2021). The importance of entrepreneurship education for the new generation: Evidence from China. International Entrepreneurship and Management Journal, 17(2), 659-675. https://doi.org/10.1007/s11301-020-00750-6
Sweeney, P., Mackey, K., & Deans, K. R. (2018). The role of business planning in achieving successful startups. Deans, K. R. (2018). The Role of Business Planning in Achieving Successful Startups. Journal of Business Venturing Insights, 10(e00122.). https://doi.org/10.1016/j.jbvi.2018.e00122
World Bank. (2021). Small and Medium Enterprises (SMEs) Finance. Retrieved from. https://www.worldbank.org/en/topic/smefinance
Zhang, Y., Wang, Z., & Zhao, L. (2021). The impact of product quality on brand loyalty: The mediating role of customer satisfaction. International Journal of Contemporary Hospitality Management, 33(3), 908–923. https://doi.org/10.1108/IJCHM-07-2020-0632