Abstract
The limitation of community movement in the new normal era has changed consumer behaviour to frozen food products, and digital marketing has been used to carry out a transaction. CV XYZ, a company that produces frozen food, must optimize the existing opportunities and utilize its strengths. The high level of social hygiene and the increasing demand for food integrity has become a challenge the company is facing today. Other than that, the company is now facing several obstacles on product development and channel limitation. Therefore, this research is aimed to identify the business model available, develop an alternative business strategy and create a new business model innovation. The data sources are from primary and secondary data; the primary data are observation, interview, FGD with the research experts, businessmen, and consumer survey. The secondary data used are literature studies such as journals, thesis, dissertation, economic data, and textbooks. Data processing techniques are carried out by analyzing business model canvas, SWOT, internal factor evaluation, and external factor evaluation , grand strategy, and 360° business model innovation. The result of SWOT analysis maps the company in quadrant one, which indicates the company is in high market growth and strong competitive position, so the company needs to improve its business model through BMI 360° analysis model. This model is used to help see the business activity process from creating value in the upstream until it can become the core competition downstream of a business process. Keywords: 360° business model innovation, business model canvas, small and medium enterprise (SMEs), SWOT, value
Highlights
Economic growth can facilitate the process of economic development (Yasa and Arka, 2015)
Small, and Medium Enterprises (MSMEs) are business units that have an important role in the national economy
The determination of the sample in this study was carried out using a non-probability sampling technique, namely by saturated sampling and totalling 30 people consisting of 25 internal CV XYZ who can give relevant information with the data needed and who are competent in their field and five consumers
Summary
Economic growth can facilitate the process of economic development (Yasa and Arka, 2015). Small, and Medium Enterprises (MSMEs) are business units that have an important role in the national economy. At the beginning of 2020, Indonesians received the news about a virus called the corona. Coronavirus (COVID19) is a contagious disease caused by a newly discovered virus called corona (WHO, 2020). In the context of Pandemic, a new normal era is interpreted as the change of social behaviour by applying health protocols and restricting physical contact, and changes in social activities (Griffith, 2020). The COVID-19 pandemic condition made an impact on the Indonesian economy, including MSMEs. BPS data shows a decreasing income of about 84% on Big to Medium-sized Businesses (UMB) and 82% on Micro to Small-sized Businesses (UMK). One solution to overcome this problem is to develop. MSMEs have a role in generating the country’s economy; this is one of the research objectives to assist business actors in creating business innovations. (Fiseha and Oyelana, 2015)
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