STARTUP COMPANIES IN POST PANDEMIC ERA : PROSPECT AND PREPARATION FOR EXPONENTIAL GROWTH
Keywords:
Startup, Sustainability, ERP SystemsAbstract
The Covid 19 pandemic had a negative impact on the world economy. Many companies that had previously been established were forced to close their business or carry out a radical transformation of their entire work process or business model. The pandemic has also changed the way of living, working, and doing business, and these are predicted to continue into the post-pandemic era. While many companies struggle to adapt to the new standard era, startups have emerged as agile players in the market, primarily due to their innovative spirit. Startup companies are key players in the Industry 4.0 business landscape, contributing to economic development by creating jobs and inducing competition. The following challenges are to find which startup fields will be predicted to have more prospects for growth in the post-pandemic era and how startup companies must prepare to have excellent readiness to maintain their sustainability. Reflecting on several startup companies, either those that have just launched or those that already have high valuations, failures, and mismanagement, can cause a decrease in the company's valuation, thereby reducing investor interest. Based on the above research questions, this research is conducted by a systematic literature review of peer-reviewed papers published during and after the pandemic on startup fields. In conclusion, for this research, startup companies that focus on digital solutions, either producing goods or delivering services, are predicted to have the best position in the market. Startup companies are also encouraged to implement ERP systems, as centralized systems allow companies to access information from various departments to improve efficiency and ensure consistent working processes and practices.
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