Level up the Business Performance: Contribution of Human Capital, Penta Helix and Survival Strategies in Creative Economy

Abstract

The culinary industry is increasingly stretched in Indonesia, it is predicted that the culinary industry is one of the pillars in the creative industry. The culinary industry sub-sector is growing due to cultural and lifestyle shifts, as well as technological developments as one of the factors that determine the success or failure of a culinary business in the digital era that shifts from offline to online. Under that circumstances, culinary business actors must implement survival strategies to strive in this business. This study aims to examine the concepts of Penta Helix and Human Capital in utilizing the survival strategies in which contribute to the business performance in the culinary sub-sector of creative economy. Since the use of IoT has become viral in level up the business performance, culinary business actors who implement online selling has been the main concern of this research. The population in this study was all managers/owners of the Surabaya Culinary creative industry in collaboration with online delivery services (shopee food, go-food and grab food), with a sample of 68 respondents. The data analysis technique used the Partial Least Sequare (PLS). Based on the results of data processing, it was found that 1) Penta Helix has not yet been able to make a meaningful contribution to Culinary Business Performance 2) Human Capital is able to make a meaningful contribution to business performance at the opposite level. 3) Penta Helix is able to make a meaningful contribution to culinary survival strategies. 4) Human Capital is able to make a meaningful contribution to culinary business survival strategies. 5) survival strategies has a meaningful contribution to business performance on the opposite level.