Strategic Business Development of Polosan Mas Ibing with the Business Model Canvas Approach

Abstract

Business development in Indonesia has experienced a relatively rapid increase, strategies in business must be carried out to achieve the level of success now and in the future. The need for a business strategy in line with business progress is a must. It is expected to provide business advantages so that the products produced can compete with products that are currently circulating. In the last few decades, the fashion industry has experienced rapid development. Small and Medium Enterprises are a field for the economy because they have a role in expanding employment opportunities, forming Gross Domestic Product (GDP), and providing productive economic activities to low-income communities. Although affected by Covid-19, the social entrepreneurship sector can still survive compared to other sectors. Polosan Mas Ibing still has problems with alternative strategies and priorities in his business journey. Polosan Mas Ibing is still relatively slow in its development, this can be related to internal and external aspects, in the establishment of this business, it is still stagnant, or no changes have been added, not a long-term strategy short and long term, as well as the use of the suitable business model. So, we need a business model; a business model is a way to formulate a strategy to stay competitive and compete with the business model, namely by a combination of SWOT, BMC, and QSPM analysis. This research uses qualitative research methods; qualitative research is a form of research based on naturally examining the object's condition of research. Polosan Mas Ibing's current business condition is in the Hold & Maintain. In that position, the company should carry out intensive strategies where market penetration, market development, product development, and product development can assist the company in developing its business. SWOT analysis of BMC elements in Polosan Mas Ibing resulted in eight alternative strategies, namely expanding market segments, optimizing marketing partners and finding potential partners, optimizing marketing and promotions to get new customers, optimizing product production and Distribution, optimizing human resources with IT education, conducting the latest innovations to add products and develop existing products, optimize existing e-commerce as a place to maximize sales and increase company income through online marketing activities. Quantitative Strategic Planning Matrix (QSPM) priority alternative strategy with the highest rating is to carry out the latest innovations to add new products and develop products with a TAS value of 8.08.

Tantangan dan Peluang Dalam Implementasi Standar Akuntansi Internasional Terbaru (IFRS)

“…Namun, terlepas dari potensi manfaatnya, proses pengadopsian IFRS untuk UMKM di Indonesia bukannya tanpa rintangan. Usaha-usaha ini seringkali beroperasi dengan sumber daya yang terbatas, memiliki infrastruktur keuangan yang kurang canggih, dan menghadapi kondisi ekonomi dan peraturan yang unik (Iskandar, 2022;Iskandar & Kaltum, 2021;Supriandi, 2022). Transisi ke IFRS mungkin memerlukan investasi besar dalam hal waktu, keahlian, dan sumber daya keuangan, sehingga menimbulkan pertanyaan tentang kepraktisan dan kelayakan adopsi tersebut.…”

Hydroponic Green House Business Development Strategy Using Business Model Canvas (BMC)

“…The Business Model Canvas provides a structured view of the business model with a focus on the key elements of the business model (Khamdi et al, 2021). On the other hand, the SWOT analysis (strengths, weaknesses, opportunities, and threats) provides a comprehensive overview of the internal and external conditions of this business (Supriandi & Iskandar, 2022). By integrating information from these two approaches, it is expected that the company can design effective strategic measures to sustainably develop its business in the future, this research aims to assess and prioritize various business development strategies.…”

“…Business strategy is a comprehensive and integrated plan designed to ensure the achievement of the main objectives of an organization or business through proper implementation. which claims that the performance of a company is influenced by business strategy, and that companies that achieve high work performance usually have strategies that can lead to variations in company performance (Supriandi & Iskandar, 2022). This method of measuring business strategy is because the suggested classification of business strategies is in line with others and Miles and Snow's measurements can be made using archival data rather than personal interviews or surveys of company officials.…”

Linkages between Social Media Presence, Brand Awareness, Customer Loyalty, and Sales Growth in Entrepreneurial Companies (Study on Fashion Industry Entrepreneurs in West Java)

“…The fashion industry is one of the most competitive industries worldwide, with many entrepreneurial companies competing for equal market share [ 11], [12]. The West Java region of Indonesia has seen a surge in entrepreneurship in fashion in recent years [13]. Therefore, this study investigates the relationship between social media presence, brand awareness, customer loyalty, and sales growth in entrepreneurial companies in the fashion industry in West Java.…”