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

: 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.


INTRODUCTION
In an era marked by rapid global changes and economic uncertainties, maritime enterprises are navigating complex waters.PT Maritim Maju, a prominent player in the Indonesian maritime industry, stands at a pivotal intersection, facing both global trends and intricate local dynamics.This chapter offers a comprehensive background on the evolving forces shaping the industry and PT Maritim Maju's strategic imperatives as it explores new opportunities and innovations.PT Maritim Maju operates across several critical areas within the maritime sector, bringing diverse expertise and services.As a Ship Owner and Operator, it provides specialized vessels and services for the oil and gas industry and offshore exploration, catering to notable clients under various contract schemes.Its Bunker Supply and Trading arm functions as the official agent of Pertamina Patra Niaga, offering a range of industrial fuel products to a broad clientele, including shipping companies and government institutions.The journey of PT Maritim Maju commenced with its Shipping Agency enterprise, which has effectively catered to the domestic market demands for more than ten years, establishing a service network that encompasses Sumatra, Java, and Bali.In addition, the Dredging Marine Port & Reclamation division provides cutting-edge solutions and services, enhancing Indonesia's maritime capabilities through its expertise in dredging, reclamation, and maritime infrastructure.Figure 1 highlights the company's complex role in the industry supply chain, demonstrating its significant contribution to crucial segments.PT Maritim Maju is a key player in the 'Upstream Logistics' process, providing utility boats and supply vessels for a range of upstream operations.The fleet facilitates exploration and production operations, including the transportation of equipment, movement of crew members, maintenance tasks, and emergency response efforts.During the 'Refinery Production' stage, PT Maritim Maju plays a role in the transportation of refined products, guaranteeing the efficient delivery to depots or industrial customers.The company's 'Bunker Services' are crucial in providing fuel to vessels for their subsequent journeys.PT Maritim Maju encounters challenges and dynamic shifts, such as government policy changes and environmental regulations, despite its strong service offerings and important role in the supply chain.The current scenario presents a complex landscape of challenges and opportunities, essential for fostering entrepreneurial innovation.The company is confronting substantial financial and organizational challenges, necessitating an in-depth reevaluation of our operational framework and strategies.The focus of this research is on the imperative for PT Maritim Maju to adapt its business model and strategic approach in response to the dynamic shifts within the maritime industry.This analysis is anchored by three pivotal questions: 1.How is the existing PT Maritim Maju business model canvas (BMC) structured? 2. What strategic adjustments should PT Maritim Maju make to its Business Model Canvas to align with the evolving patterns of the industry and expectations of consumers?3. Which updated business model components should PT Maritim Maju incorporate to improve its market position and regain competitive advantage?

LITERATURE REVIEW
Understanding and navigating the multifaceted business environment requires a robust set of analytical tools and strategies.Chief among these for contemporary organizations are the Business Model Canvas (BMC), Resource-Based View (RBV), VRIO framework, Competitive Profile Matrix (CPM), and Business Model Innovation (BMI) strategies.The BMC, conceived by Osterwalder and Pigneur, provides a structured reflection of a company's strategy across nine domains.This holistic approach does not just simplify complex business models into comprehensible segments but also stimulates strategic thought processes essential for revenue generation and financial viability.Furthermore, it equips businesses with the analytical prowess needed to decode and adapt to the ever-shifting market trends and economic landscapes.
In tandem with the BMC, the Competitive Profile Matrix (CPM) stands out as a critical evaluative tool that allows firms to size up their market standing against competitors, emphasizing industry-specific success factors.This framework, detailed by David (2017), assigns weighted significance to these factors and assesses companies accordingly, offering a clear picture of where they stand in a competitive context.CPM not only underscores performance metrics but also shapes strategic decisions by aligning internal capabilities with external market realities.From a resource standpoint, the RBV and VRIO analysis delve into the strategic implications of a firm's resources, as they are core to Rothaermel's and Morris and Hodges' discussions on competitive advantage.These resources are examined for their value, rarity, and uniqueness, as well as the firm's capacity to harness them effectively.The strategic landscape is further dissected by SWOT Analysis and the TOWS Matrix, the former identifying a firm's intrinsic strengths and weaknesses opposite the external opportunities and threats, and the latter offering a strategic matrix to navigate these factors, as expounded upon by Fred R.  The conceptual framework presented in Figure 2 is an integrated matrix designed to guide organizations through the complex process of revising and improving their business strategies.It advocates a detailed analysis that spans evaluating the Business Model Environment, implementing RBV and VRIO analyses, leveraging CPM for competitive assessment, and embracing BMI strategies within the BMC's structure.This comprehensive approach culminates in the Enhanced or Revitalized Business Model Canvas, an innovative and flexible strategic blueprint ready to meet the challenges of tomorrow's business environment.

RESEARCH METHOD
This study is framed as descriptive qualitative research, adhering to the guidelines set by Sekaran (2009) and Sugiyono (2005), focusing on summarizing specific conditions and situations within a set period.It primarily aims to describe the internal and external environmental factors impacting PT Maritim Maju without intending to generalize the findings.The data sources are twofold: primary data, gathered directly from PT Maritim Maju through interviews, observations, and questionnaires, and secondary data, which includes a range of published and unpublished materials, previous research, online resources, and official government data.This combination guarantees a thorough perspective that includes both immediate observations and wider historical backgrounds.This research adopts a methodological approach that is based on a case study framework, as classified by Marzuki (2000).The research involves a detailed examination of academic literature, media reports, and industry-specific publications, complemented by a field study at PT Maritim Maju.This field study includes interviews with stakeholders, observations at the company's facilities, and analysis of relevant documents.A qualitative approach is central to the data analysis.The process begins with in-depth interviews and content analysis to understand market trends, industry influences, and macroeconomic factors.It then progresses to an extensive review of PT Maritim Maju Business Model Canvas (BMC), integrating a SWOT analysis and the creation of a TOWS matrix.The research culminates in an enhanced BMC, incorporating insights from both the SWOT and TOWS analyses.Theme analysis, aided by data organization and coding software, is employed to identify and interpret patterns in the qualitative data.The aim is to comprehensively understand PT Maritim Maju business environment and assist in devising flexible and innovative business strategies.The consolidated BMC of PT Maritim Maju as depicted on figure 3 integrates the elements of Fleet Chartering, Bunker Services, and Ship Agency units.A color-coded scheme was used to highlight overlaps and synergies among the units, illustrating the collective value and potential for collaboration within the organization.In examining PT Maritim Maju business environment, a comprehensive content analysis revealed key themes impacting its business model.These include customer needs and demands, market dynamics and opportunities, technology and innovation, environmental sustainability, regulatory compliance, relationships and partnerships, and financial management.Stakeholders emphasized the importance of meeting customer demands, leveraging market opportunities, and the significance of partnerships and robust financial management.Notably, technology, innovation, and environmental sustainability were highlighted more by internal stakeholders than customers or finance personnel, indicating a need for better communication of these initiatives.
The design space analysis of PT Maritim Maju Business Model Canvas (BMC) integrated these themes into market forces, industry forces, macroeconomic factors, and key trends as seen on figure 4. Customer needs, market opportunities, partnerships, and regulatory compliance emerged as major market forces.Industry forces were defined by environmental sustainability, technology, and regulatory compliance, while macroeconomic factors included market dynamics, technology, relationships, and financial management.Key trends pointed towards technology, environmental sustainability, and evolving market dynamics.PT Maritim Maju Resource-Based View (RBV) internally identified a blend of tangible and intangible resources that are vital for its competitive advantage.The factors encompass fleets size, commitment to international standard, physical infrastructure, strategic partnership, brand reputation, operational precedures, and diversified client based .The VRIO analysis conducted a thorough evaluation of these resources, specifically recognizing the company's certifications and brand reputation as key drivers of long-term competitive advantage.Nevertheless, the company's collection of ships was perceived as a drawback in terms of both quantity and uniqueness.

Commitment to International Standard
Well maintained and comply International certifications demonstrating commitment to quality and safety standards.

Physical Infrastructure
Facilities and equipment that support efficient project management and vessel operations.

Strategic Partnerships
Collaborations with key industry players like Pertamina, BKI, PHE ONWJ, PT Jawa Satu Power, and the Indonesian Navy.

Brand Reputation
Team's specialized knowledge and skills in maritime logistics.

Operational Procedures
Established processes for project management and regulatory compliance.

Diversified Client Based
Various source of revenue due to nature of the business units span (Source: Author) The VRIO analysis highlighted that strategic partnerships and relationship are a strength, but also have the potential to become a weakness if there is excessive dependence on them.This comprehensive comprehension is crucial for the forthcoming SWOT analysis, providing an equitable perspective on capitalizing on strengths and minimizing weaknesses in the competitive maritime industry.By combining these valuable observations with an external examination, PT Maritim Maju will develop all-encompassing strategies to effectively respond to market requirements, capitalize on favorable circumstances, and tackle obstacles within its business environment.This SWOT analysis, contextualized within the BMC framework, emphasizes the need for a strategic approach that leverages PT Maritim Maju's inherent strengths, mitigates weaknesses, and capably navigates the dynamic maritime sector's threats and opportunities.These insights are pivotal for the upcoming TOWS matrix analysis, aiming to align strategies with the company's business model and enhance its competitiveness and sustainability in the maritime industry.

Business Solution
The TOWS analysis of PT Maritim Maju, following the SWOT evaluation, crafts actionable strategies by aligning the company's internal strengths and weaknesses with external opportunities and threats.

Maximize Strengths to Seize Opportunities (SO Strategies)
Partnership-Driven Market Expansion: Utilizing robust partnerships, like those with the Indonesian Navy and Pertamina, to venture into new markets, particularly government contracts and marine construction projects.Moreover, Leveraging Certifications for 6.Channels: Enhancements include a mobile app for customer interaction and refined online tendering processes through digital marketing efforts.7. Customer Segments: PT Maritim Maju will explore adjacent markets, such as marine infrastructure and renewable energy, to diversify its customer base and tap into new revenue streams.8. Cost Structure: Operational costs and certifications will be closely monitored, with energy efficiency measures, lean management, and supply chain optimization introduced to reduce expenditures.9. Revenue Streams: Besides charter and transportation fees, PT Maritim Maju will offer maritime consultancy services and implement dynamic pricing models, including tiered service packages to cater to a broader market spectrum.

CONCLUSION
The analysis of PT Maritim Maju's Business Model Canvas (BMC) has elucidated how its existing framework reflects the company's operational objectives and the needs of its stakeholders, directly addressing the initial research question.The evaluation indicates that through its core business units-Fleet Chartering, Bunker Services, and Ship Agency-PT Maritim Maju has created a

Figure 1 .
Figure 1.PT Maritim Maju Supply (Source: Internal data) David and further explored by Zakaria, Arof, and Tholarnathan.At the cutting edge of strategic development is Business Model Innovation (BMI).As per the insights from BCG, BMI is a dynamic approach that enhances organizational value propositions and operational models in tandem.It's about rethinking the core of what makes the business tick: from what it offers to how it generates profit and maintains a competitive edge.The BMI is not just about minor tweaks but about revolutionary changes that can redefine a firm's market position.Although extensive research by Hasan et al. and Pasaribu et al. hasbeen devoted to these strategic tools, there remains room for a more nuanced fusion of these frameworks.There's a particular need for a better blend of SWOT analysis within the BMC to sharpen strategic insights, a synthesis that Osterwalder and Pigneur have hinted at but not fully explored.

Figure 2 .
Figure 2. Conceptual Framework (Source: Author) .47191/ijcsrr/V7-i3-17, Impact Factor: 7.943 IJCSRR @ 2024 www.ijcsrr.org1557 * Corresponding Author: Tri Kharisma Aldityo Volume 07 Issue 03 March 2024 Available at: www.ijcsrr.orgPage No. 1554-1566 FINDINGS AND DISCUSSION Business Situation The Business Model Canvas (BMC) of PT Maritim Maju was assessed by analyzing internal documents, specifically the 2019 Company Long Term Plan (RJPP).The analysis yielded valuable insights regarding the individual contributions made by each business unit within the company.The Business Model Canvas (BMC) of the Fleet Chartering unit emphasized significant collaborations with entities such as Pertamina, BKI, and multiple government agencies.Its primary activities include tender processes, service delivery, vessel maintenance, and policy engagement.This unit's value propositions focus on fleet chartering, bunker services, and fuel OAT.Customer engagement is maintained through founder networks, third-party contractors, and digital platforms.The main customer segments are oil & gas companies, construction companies, shipping companies, and the government.For Bunker Services, key partnerships include Pertamina, the fleet business unit, and law enforcers.The unit's activities center around sales, marketing, fuel refilling, and product delivery.The value propositions comprise fuel transportation services, various bunker services, and Pertadex fuel offerings.Customer relationships are built through founder networks, associations, and a sales force.The unit primarily targets shipping companies, agents, and the navy.The Ship Agency unit collaborates with maritime associations and port authorities.Its activities involve port call management, coordination with port authorities, and customer service.The value proposition includes a comprehensive range of agency services, 24/7 customer support, and efficient port call management.The unit emphasizes personalized services and continuous feedback.The customer segments include shipping companies, charterers, and the internal fleet business unit.

Strengths to Counteract Threats (ST Strategies)
Strategic Agility in Regulatory Compliance: Utilizing PT Maritim Maju's strong compliance to swiftly adapt to regulatory changes, enhancing the company's agility and reliability.Furthermore, utilizing Partnerships for Market Intelligence: Leveraging existing partnerships for better market intelligence to prepare for economic and regulatory Client Base Diversification: Actively pursuing new customer segments, using maritime expos and government initiatives for networking and finding new clients.Moreover, Technological Efficiency for Fleet Optimization by adopting advanced maritime technologies to optimize vessel operations, improving efficiency and customer satisfaction.

Strategies to Defend Against Threats While Managing Weaknesses (WT Strategies)
Strategic Partnerships to Balance Fleet Limitations: Seeking partnerships or leasing arrangements to address the limited fleet size, involving short-term charters or collaborations with other shipping firms.Furthermore, Cost Management and Efficiency: Focusing on cost management strategies and lean operational practices to navigate cost constraints and operational challenges.