ENHANCING PRODUCT LAUNCH SUCCESS AMONG INDONESIAN SME IMMIGRANTS IN PENANG: A COMMUNITY-BASED APPROACH

Abstract

Accounting is vital for novice entrepreneurs, given the many roles they must undertake during business growth. Competence in accounting allows entrepreneurs to evaluate company performance, identify which aspects are thriving and worth investing in, and pinpoint areas that require improvement or are unprofitable. This community engagement program aims to educate small and medium-sized entrepreneurs, particularly Indonesian immigrants affiliated with the Indonesian Community Organization (PERMAI) in Pulau Pinang, Malaysia, on specific aspects of decision- making in Management Accounting. Understanding these aspects is essential for the sustainability of businesses and serves as a crucial strategic tool, enabling small business entrepreneurs to make real-time projections and predictions. The program contributes to developing decision-making skills in creating innovative products through knowledge of CVP analysis. We use case studies to discuss the implementation of CVP Analysis. Implementing the "Cost Volume Profit Analysis: Building Innovative Products" program is expected to yield tangible outcomes, including the emergence of new innovative products, job creation, and local business growth. Furthermore, by fostering collaboration and knowledge-sharing, it aims to build an ecosystem supportive of entrepreneurship and innovation in Penang, ultimately contributing to the region's sustainable development. In conclusion, this program positively impacts the development of SME entrepreneurs' financial decision-making skills.