Research Paper
Year: 2023 | Month: July | Volume: 10 | Issue: 7 | Pages: 854-866
DOI: https://doi.org/10.52403/ijrr.202307100
The Strategy Formulation of CV. Halo Art Semesta for the Development of Kriya Wood Craft Businesses
Bayu Subekti1, Dikky Indrawan1, Sufrin Hannan1
1IPB University, School of Business, Jl. Raya Pajajaran, Bogor, Indonesia, 2Pakuan University Faculty of
Economics and Business, Jl. Pakuan Tegallega, Bogor, Indonesia
Corresponding Author: Bayu Subekti
ABSTRACT
Today, business competition is getting sharper. New businesses are required to be ready and able to enter the market, able to compete, win, excel and survive. CV. Halo Art Semesta (CV. Harts) is a new company engaged in the creative economy sector, the woodcraft sub-sector. The company is developing a new product (NPD). The objectives of this research to identify the external and internal environment, analyze the factors that influence CV. Hart development strategy and determine the formulation of new product development strategy. The number of respondents was 8 respondents who are 2 wooden craft owners, 5 from internal firm, and a business expert. The research was conducted using the key success factor analysis tool, EFE matrix and IFE matrix to analyze internal and external factors, IE matrix to see where CV. Harts position, SWOT analysis to map and provide of alternative strategies and QSPM to formulate strategic priorities. Also given an Enterprise Architecture recommendation to determine the company's long-term plan. These seven alternative strategies are used to determine strategic priorities. The two highest priority strategies are (1) turbo charge Kumiko Islamic wood craft production and make it the core business, (2) maximizing marketing performance and improving the quality of HR production. The designs of the strategic architecture are also created to determine the company's long-term plans. The strategic architectural design is to lay the foundation of NPD in the first year, production and marketing channel maximization in the second year, improve production skills and get an injection of funds in the third year and achieve goals in the fourth year.
Keywords: Architecture strategy, SWOT, QSPM, NPD, wood craft
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