Open AccessBusiness Strategy Formulation for Training Company in Captive Market
Author(s) -
Denada Tirta Amertha,
Alla Asmara,
Setiadi Djohar
Publication year - 2021
Publication title -
european journal of business and management research
Language(s) - English
Resource type - Journals
ISSN - 2507-1076
DOI - 10.24018/ejbmr.2021.6.4.965
Subject(s) - swot analysis , market penetration , strategic business unit , business , process management , strategic management , competition (biology) , market share , position (finance) , operations management , marketing , industrial organization , engineering , finance , ecology , biology
This study aims to formulate a business strategy at a training company (PT PTC) as a lead training provider in facing competition in the Pertamina Group market (captive) and in the non-captive market. The internal business environment was identified using VRIO analysis and evaluated using the IFE Matrix, while the external business environment was identified using Porter's Five Forces and evaluated using the EFE Matrix. The formulation of alternative business strategies in the PTC training business unit is carried out using the SWOT Matrix which is then outlined in the business strategy implementation roadmap. The results showed that PT PTC's training business unit was in a position to grow and develop with good internal capabilities in using strengths and minimizing weaknesses (score 2,570), and in a strong position to respond to opportunities and threats (score 3,042). The results of the VRIO analysis obtained 4 future competencies for strategy formulation on the SWOT Matrix and obtained 9 alternative intensive strategies in the form of market penetration strategies, market and product development as well as 1 horizontal integration strategy, then ranked using QSPM for a roadmap of PTC training business strategy implementation in 5 years front.