| Penulis/Author |
MARIA PAMPA K (1) ; Prof. Wakhid Slamet Ciptono, MBA., MPM., Ph.D. (2); Prof. Nurul Indarti, Sivilokonom., Cand.Merc., Ph.D. (3); Boyke Rudy Purnomo, S.E., M.M., PhD., CFP (4) |
| Abstrak/Abstract |
At this time, SMEs are facing the COVID-19 pandemic that results in changes in market demands and the conditions
in society. Current conditions require SMEs to survive not only by exploiting their existing businesses, but also by
trying to explore new opportunities. Companies will have better performance if they are able to balance exploration
and exploitation. For SMEs with limited resources, demand for exploration and exploitation are difficult considering
that they are usually family enterprises with limited resources and capabilities. To overcome the lack of internal
resources and capabilities, SMEs need to collaborate with external parties and form social networks. Social networks
can provide additional resources for SMEs that could be in the forms of social support, friendship, time, information,
expertise, money, business transactions, activities, and so on. This article discusses the characteristics of social
networks that can influence the exploration and exploitation competences of SMEs. At the end, SMEs that are able to
explore new things and at the same time exploit their current business will have good performance and survive.
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