5th European International Conference on Industrial Engineering and Operations Management

Developing Business Strategy: Analysis and Formulation for SMEs Snack in Indonesia

Febby Candra Pratama, Muhammad Naufal & Fairuz Iqbal Maulana
Publisher: IEOM Society International
0 Paper Citations
Track: Business Analytics

SMEs that have a competitive advantage can be seen from the ability to build consumer communities, especially agents and store partners. Speed of service, price, number of variants, product quality, and distribution range are the keys to the victory of SMEs in fierce competition. SMEs are proven to be tough if they are proven to be able to operate for a long period. This study aims to identify internal factors, external factors, and formulate alternative strategies for SME snacks. Researchers used a single holistic case study at UD Bintang Agung, which is a snack food SME that has been established for more than 10 years with an annual turnover of 3 billion rupiahs. The analysis used in this study includes Internal Factor Evaluation (IFE), External Factor Evaluation (EFE), Internal-External (IE) Matrix, SWOT Analysis, and determining strategic priorities using the Quantitative Strategy Planning Matrix (QSPM). The results of the IE Matrix show the company's position in the quadrant with recommendations for growth and development strategies. There are several alternative strategies based on SWOT analysis and the recommendation with the highest score is the importance of having a unit that focuses on HR development, from the recruitment, training, to placement phases. This is necessary so that the company works under the system so that the owner can focus on observing to see bigger opportunities.

Published in: 5th European International Conference on Industrial Engineering and Operations Management, Rome, Italy

Publisher: IEOM Society International
Date of Conference: July 26-28, 2022

ISBN: 978-1-7923-9161-3
ISSN/E-ISSN: 2169-8767