Competence of Business Players in Moderating Market Orientation, Technology and Business Networks toward Product Innovation: A Study of Msmes in Medan, Indonesia

Abstract

The use of technology has influenced the trading system competition of MSME actors. Thus, MSME actors must be better prepared to compete in the market. This study aims to determine the direct and indirect effects of Market Orientation, Technology Orientation, and Business Network on Product Innovation in Modesari Business Entrepreneurs' Competence. One innovation in solving economic challenges is realising the impact of this perspective. This study used a census method or simple random sampling. The Slovin formula, which takes into account that there are 10,540 people living in Medan's 21 subdistricts, is used to calculate the study's sample size. Thus, 385 were chosen in January 2023 using the accidental sampling technique as the study sample for the Slovin procedure. SEM-PLS data analysis was employed. According to the study's findings, business networks, technology orientation, and market orientation all have a direct impact on how competent business actors are. Competence of business actors can influence how markets, technologies, and business networking are oriented towards product innovation, which has a substantial impact on culinary MSMEs in Medan City. This research has proven that using technology as a competent medium in trade is very influential in increasing MSMEs in Medan. Market moderation has become a solution to facing competition in the market.