Articles

Enhancing Business Competitiveness: Strategic Adaptation and Business Model Canvas Application in PT Maritim Maju

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In this detailed analysis, we explore the strategic repositioning of PT Maritim Maju within the context of the global maritime industry’s ongoing transformation, influenced by technological advancements and economic shifts. This study meticulously applies the Business Model Canvas framework, incorporating Resource-Based View, VRIO, and SWOT analyses, to diagnose and propose necessary strategic enhancements for PT Maritim Maju. It underscores the imperative for the company to diversify its services beyond traditional maritime activities, suggesting an expansion into maritime consulting and logistics technology. Additionally, the research advocates for the integration of advanced technologies such as AI in fleet management, aiming to optimize route planning and implement predictive maintenance, thereby achieving cost efficiencies, enhanced service reliability, and superior customer satisfaction. Strategic partnerships are highlighted as crucial for leveraging technological innovation and expanding service capabilities. The study also recommends a reevaluation of marketing strategies, emphasizing the adoption of digital marketing techniques to better position PT Maritim Maju on the global stage, highlighting its commitment to safety, reliability, and customer service excellence. Furthermore, it stresses the importance of continuous staff development in leadership and maritime technology to foster a culture of innovation and strategic agility. Compliance with international regulations and a proactive risk management approach are advised to mitigate operational risks. This comprehensive strategic plan aims to guide PT Maritim Maju through the intricacies of the modern maritime landscape, capitalizing on new opportunities for growth and establishing a foundation for enduring competitiveness and resilience.

A Proposed Business Model Innovation Using Blue Ocean Strategy Approach for Kiumarket in The Post-Pandemic Era

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Kiumarket, a local brand in the home fragrance industry, encountered significant challenges in the evolving post-pandemic market landscape. Known for its diverse range of aromatic products, including scented candles, diffusers, and sprays, Kiumarket faced declining sales due to a shift in consumer habits, as people began spending less time at home. The market also saw an influx of new competitors, leading to increased competition and necessitating a strategic reevaluation of Kiumarket’s product offerings and pricing strategies. Furthermore, changing consumer preferences towards specific scents and qualities demanded a more targeted approach to Kiumarket’s product range. The research aimed to address these challenges by exploring effective strategies that would enable Kiumarket to adapt and secure a sustainable competitive advantage. The primary focus was on assessing the effectiveness of a new business model strategy for distinctive positioning in the market, the transformative role of innovative market creation and differentiation in enhancing Kiumarket’s value proposition, and the impact of such strategies on the brand’s market penetration, profitability, and long-term viability. Employing the Blue Ocean Strategy framework, the research delved into the current competitive scenarios using analytical tools like Porter’s Five Forces and the Business Model Canvas. This comprehensive approach helped in understanding the intricate market dynamics, competitor behaviors, and dominant value propositions. The Strategy Canvas was pivotal in analyzing the market landscape, identifying competitive factors, and uncovering potential differentiation opportunities. Innovative thinking was encouraged through the application of the Four Actions Framework and the ERRC Grid, focusing on reconstructing market value and strategy. A variety of research methods were utilized, including in-depth industry reports analysis, surveys, interviews, and focus group discussions. Tools such as SPSS ensured the accuracy and reliability of the data analysis. The study also incorporated Blue Ocean Strategy instruments like the Buyer Utility Map and the Three Tiers of Noncustomers, enabling a deep exploration of new market opportunities and insights into buyer personas. The findings of the research underscored the necessity for Kiumarket to differentiate its products, maintain consistent quality, and enhance customer satisfaction. It suggested that a strategic overhaul of the product line, coupled with competitive pricing and a strong focus on customer engagement, would be crucial. Additionally, targeting non-customers and innovating in product offerings emerged as vital strategies to tap into new market segments.

Proposed Business Strategy for New Healthcare Innovation of Electro-Capacitive Body Stimulation (ECBS) Technology

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One of the greatest healthcare challenges in Indonesia is providing an adequate environment and healthcare infrastructure that ensures that people obtain the best treatment that conforms to their expectations, preferences, and needs. Therefore, healthcare technology players have a crucial role in overcoming this challenge and creating a better solution to the system. Electro Capacitive Body Stimulation (ECBS) is a technology that utilizes electric pulses to stimulate the body’s muscles and organs to optimize waste removal and nutrient transport process. As a result, the body will be conducive to physical well-being. For the elderly, who start to experience slowing down in physical ability and degeneration of organ functions, this technology is beneficial to maintain their health condition and prevent future chronic disease. However, the market performance is not live up to the fineness of this technology, even with all its benefits and technological advancement. As a matter of fact, sales have been disappointing by the year since the product is launched to the public. A number of factors contributed to this unsatisfactory sale encompassing internal and external conditions of the company. Through the analysis of internal and external environments as well as primary and secondary data, research is conducted to identify the contributing factors to the unsatisfactory sales and potential value of the technology. Based on the analysis and findings, a SWOT analysis that defines the unsatisfactory business performance factors and potential technology value and the TOWS matrix that bases the business strategy can be described. It includes the diamond model, STP and 7PS marketing, and business model canvas as the proposed solution for the business.

Business Model Innovation Strategy for Creative Industry in Indonesia

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Indonesia’s creative economy sector has been a promising GDP source based on its steadily increasing performance since 2010. Around 70% of the businesses in this sector are said to be Micro, Small, and Medium Enterprises (MSMEs). Just like any other business, MSMEs also faces challenges not only from internal but also an external factor, hence it is crucial for an MSME’s survival to have resilience in facing problems and uncertainties. One way to assure a business’ resilience is by developing a competitive advantage that could be achieved with a good business model that can develop according to the internal and external situation through periodical evaluation and innovation. stellar/coronae as one of the MSMEs in the creative industry also faces challenges in the form of the appearance of a lot of new entrants and competitors, causing the current market they are operating in to turn into a red ocean. By using the blue ocean strategy, stellar/coronae looks for opportunities in creating a new market instead of competing in the existing red ocean by outperforming the competitors. This strategy of business model innovation is commenced with an external analysis of the business model environment to see possible opportunities and threats, followed by an internal analysis of the strength, weaknesses, opportunities, and threats evaluation of the current business model. The result of these two explorations is then combined using the four actions-framework to see what could be eliminated, reduced, raised, and created from the existing business model. The end product will be in the form of a business model where stellar/coronae not competing with the red ocean any longer but providing a new value proposition in the blue ocean.

Proposed Strategy to Increase the Number of Subscription of Thudio Using Freemium Model

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Nowadays, almost all aspects of our daily life intersect with design and creativity, and design is no longer an exclusive thing; it’s a part of lifestyle. People become aware about interior design. Ever since Covid-19 pandemic, people mostly spend their time at home. It cause increasing furniture demand. From the data shows that the number of construction company in Indonesia is growing every year. This create opportunities and potential for business market. Thudio is a new innovation for designers to make their work easier. It connects a lot of stakeholders, from designers and architects to customers and suppliers, to help consumer deliver the best result for interior design projects. Thudio is a variation on the word “studio,” which refers to a place where designers, artists, and innovators work, collaborate, and innovate. Thudio aspires to become a venue for innovation and collaboration in the home living market. With the marketing activities that have been implemented, Thudio should develop so that the consumer subscription target can be achieved.

The research strategy data collection method chosen for this research is questionnaires which is going to be administered through electronic and online questionnaires. This will be considered as the effective, and efficient way in capturing the information. Research with surveys by distributing questionnaires to interior designers that aim at describing and explaining business issues and seeks the answers by the user of the quantitative data. Research limitation; questioner only for Interior designer who works freelance, in-house, and as a student. The proposed questioner is designed to determine customer awareness of the Thudio brand and the services it provides. Also, to investigate whether factors influence users’ willingness to subscribe to a service.

The framework used in this research to analyse the result using 4V (Value proportion, value creation, value capture, and value delivery) to asses the freemium business strategy. As proposed solution to be implemented, researcher using business model canvas (BMC). Based on the analysis, Thudio must create marketing initiatives to increase the number of Thudio service consumers. Furthermore, the aspect that makes individuals want to subscribe to a service is differentiated distribution, which is influenced by the benefits supplied and the service’s goal. As a result, Thudio employs a freemium strategy in order to increase the number of Thudio service subscriptions.

The Use of Marketing Mix and Business Model Canvas to Improve Sales Performance in MSME (Case Study: Waroeng 17)

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MSMEs has declared to be one of the most crucial pillars in Indonesia’s economic. The pandemic that abruptly hit the economic in 2020, has resulted in the vastly growing number of MSME. One area that has the biggest number of MSMEs is Bogor Regency, West Java. Although the businesses has created many job opportunities for people, the intensity of the market rivalry and low entrants barrier has made numbers of them decrease in the sales performance. Waroeng 17 is one of the MSMEs that suffers from decreasing sales performance in Bogor Regency, West Java. The business sales performance is categorized to unstable while it has potential in growing for the future. This research aims to analyze the environmental elements that affect Waroeng 17’s sales performance and translate it to strategies that would improve the sales performance. The methodology this research used is qualitative method by collecting data through interviews and observation. Secondary data used in this research is obtained through books, journals, news, and other reliable resources. For the environmental analysis, this research utilized the Porter’s 5 Forces and  Customer Analysis to get insights from external environment. Furthermore, this research used VRIO analysis to define the business’ competitive advantage. The data collected then summarized using SWOT analysis and formulated in the TOWS Matrix, Marketing Mix (4P’s), and Business Model Canvas. The result of the research is there are four strategies from the marketing mix’s framework regarding the improvement of products, price, place, and promotion to improve the sales performance. The conclusion is the Waroeng 17 need to optimize the social media platforms as marketing tools and increase their sales. Waroeng 17 are also recommended to partner with delivery services such as GoJek, Shopee, and Grab. The technology utilization and transfer knowledge are also necessary in the business process especially in the financial and operational activities.