The Influence of Entrepreneurial Knowledge and Entrepreneurial Skills on Business Success in USU Karona Tax Culinary Padang Bulan Medan

Oct 13, 2025 by magicalceylontours.com 79 views

The Influence of Entrepreneurial Knowledge and Entrepreneurial Skills on Business Success in USU Karona Tax Culinary Padang Bulan Medan

Introduction

Small and Medium Enterprises (SMEs) play a vital role in the national economic system, and the government is expected to actively socialize the importance of SMEs as a driver of Indonesia's economic growth. Entrepreneurship not only requires theoretical knowledge but also practical skills that will support business success. In the midst of increasingly fierce competition in the business world, an entrepreneur must have a good understanding and expertise in the occupied fields, especially in big cities like Medan, which offers many opportunities, especially in the culinary sector.

The Significance of Entrepreneurial Knowledge and Skills in Business Success

Entrepreneurial knowledge includes an understanding of the basic concepts of business, management, marketing, and relevant legal aspects. With adequate knowledge, entrepreneurs can make better and more strategic decisions in running their businesses. For example, knowledge about market trends can help culinary entrepreneurs in designing menus in accordance with consumer tastes, while understanding of financial management will help them in managing cash flow and business profitability.

On the other hand, entrepreneurial skills include practical capabilities such as operational management, customer service, and product innovation. This skill is very important in running a culinary business, where direct experience in dealing with customers and managing the production process can make significant differences. For example, the ability to adapt quickly to changes in market demand or respond to customer feedback can be the key to success.

The Relationship Between Knowledge and Skills

Both of them, knowledge and skills, complement each other in the journey of an entrepreneur. Knowledge provides a theoretical foundation, while skills allow the application of this knowledge in practice. Therefore, continuous training and education becomes very important for entrepreneurs to develop both in a balanced way.

The Importance of Entrepreneurial Knowledge in Business Success

Entrepreneurial knowledge is essential for business success, as it provides entrepreneurs with the necessary understanding of the business environment, market trends, and financial management. With adequate knowledge, entrepreneurs can make informed decisions, manage their businesses effectively, and adapt to changes in the market.

The Role of Entrepreneurial Skills in Business Success

Entrepreneurial skills, such as operational management, customer service, and product innovation, are also crucial for business success. These skills enable entrepreneurs to manage their businesses effectively, respond to customer needs, and innovate products and services to stay competitive.

The Impact of Entrepreneurial Knowledge and Skills on Business Success

The study found that both entrepreneurial knowledge and entrepreneurial skills have a positive and significant influence on business success, with a contribution of 47.1%. From these two variables, entrepreneurial skills are the most dominant factors in influencing business success.

Conclusion

In the culinary business world, especially in USU Karona Padang Tax Medan, the combination of entrepreneurial knowledge and entrepreneurial skills greatly influences business success. Business actors who are able to integrate these two aspects not only have a greater opportunity to survive, but also to develop in competitive markets. Therefore, it is essential for entrepreneurs and prospective entrepreneurs to continue to learn and hone their skills in order to compete and be successful in the culinary industry that continues to change.

Recommendations

Based on the findings of this study, the following recommendations are made:

Entrepreneurs and prospective entrepreneurs should prioritize the development of both entrepreneurial knowledge and entrepreneurial skills.
Continuous training and education should be provided to entrepreneurs to develop their knowledge and skills in a balanced way.
The government and business organizations should provide support and resources to entrepreneurs to help them develop their knowledge and skills.
The culinary industry should prioritize the development of entrepreneurial knowledge and skills to stay competitive in the market.

Limitations of the Study

This study has several limitations, including:

The study was conducted in a specific region, USU Karona Padang Tax Medan, and may not be generalizable to other regions.
The study only focused on the culinary industry and may not be applicable to other industries.
The study relied on self-reported data from entrepreneurs and may be subject to biases.

Future Research Directions

Future research should focus on:

Conducting a larger-scale study to generalize the findings to other regions and industries.
Investigating the impact of entrepreneurial knowledge and skills on business success in other industries.
Developing a more comprehensive model of entrepreneurial knowledge and skills that includes other variables, such as personality traits and motivation.

References

[List of references cited in the study]

Appendix

[Appendix materials, such as questionnaires, data analysis, and additional tables and figures]
Frequently Asked Questions (FAQs) About Entrepreneurial Knowledge and Skills

Q: What is entrepreneurial knowledge?

A: Entrepreneurial knowledge refers to the understanding of the basic concepts of business, management, marketing, and relevant legal aspects. It provides entrepreneurs with the necessary knowledge to make informed decisions, manage their businesses effectively, and adapt to changes in the market.

Q: What is entrepreneurial skill?

A: Entrepreneurial skill refers to the practical capabilities such as operational management, customer service, and product innovation. It enables entrepreneurs to manage their businesses effectively, respond to customer needs, and innovate products and services to stay competitive.

Q: Why is entrepreneurial knowledge and skill important for business success?

A: Entrepreneurial knowledge and skill are essential for business success because they provide entrepreneurs with the necessary understanding of the business environment, market trends, and financial management. With adequate knowledge and skills, entrepreneurs can make informed decisions, manage their businesses effectively, and adapt to changes in the market.

Q: How can entrepreneurs develop entrepreneurial knowledge and skill?

A: Entrepreneurs can develop entrepreneurial knowledge and skill through continuous training and education. They can attend workshops, seminars, and conferences to learn about the latest trends and best practices in the industry. They can also read books, articles, and online resources to stay updated on the latest knowledge and skills.

Q: What are the benefits of developing entrepreneurial knowledge and skill?

A: The benefits of developing entrepreneurial knowledge and skill include:

Improved decision-making
Increased productivity
Better customer service
Improved financial management
Increased competitiveness
Improved business growth and success

Q: How can entrepreneurs measure the impact of entrepreneurial knowledge and skill on business success?

A: Entrepreneurs can measure the impact of entrepreneurial knowledge and skill on business success by tracking key performance indicators (KPIs) such as revenue growth, customer satisfaction, and employee engagement. They can also conduct regular surveys and feedback sessions with customers and employees to gauge their satisfaction and engagement.

Q: What are the challenges of developing entrepreneurial knowledge and skill?

A: The challenges of developing entrepreneurial knowledge and skill include:

Limited access to resources and funding
Limited time and energy
Limited knowledge and skills
Limited support and guidance
Limited motivation and commitment

Q: How can entrepreneurs overcome the challenges of developing entrepreneurial knowledge and skill?

A: Entrepreneurs can overcome the challenges of developing entrepreneurial knowledge and skill by:

Seeking out resources and funding
Prioritizing time and energy
Seeking out mentors and coaches
Staying motivated and committed
Continuously learning and improving

Q: What is the future of entrepreneurial knowledge and skill?

A: The future of entrepreneurial knowledge and skill is bright, with the increasing demand for entrepreneurs and small business owners. As the economy continues to grow and evolve, the need for entrepreneurs with the necessary knowledge and skills will continue to increase.