Abstract
The magnitude of opportunities and project values of electricity system in Indonesia encourages PT. XYZ to develop its business in electrical sector which requires business development strategies. This study aims to identify company's business model using Business Model Canvas approach, formulate business development strategy alternatives, and determine the prioritized business development strategy which is appropriate to the manufacturing business model for PT. XYZ. This study utilized a descriptive approach and the nine elements of the Business Model Canvas. Alternative formulation and priority determination of the strategies were obtained by using Strengths, Weaknesses, Opportunities, Threats (SWOT) analysis and pairwise comparison. The results of this study are the improvement of Business Model Canvas on the elements of key resources, key activities, key partners and customer segment. In terms of SWOT analysis on the nine elements of the Business Model Canvas for the first business development, the results show an expansion on the power plant construction project as the main contractor, an increase in sales in its core business in supporting equipment industry of oil and gas, a development in the second business i.e. an investment in the electricity sector as an independent renewable emery-based power producer. On its first business development, PT. XYZ selected three Business Model Canvas elements which become the priorities of the company i.e. key resources weighing 0.252, key activities weighing 0.240, and key partners weighing 0.231. On its second business development, the company selected three elements to become their the priorities i.e. key partners weighing 0.225, customer segments weighing 0.217, and key resources weighing 0.215.Keywords: business model canvas, SWOT, pairwise comparison, business model
Highlights
Infrastructure development is one of the important aspects in accelerating the national development process, improving competitiveness in the globalization era, and playing an important role to sustain the economic growth
Customer segments consist of both state-owned oil and gas companies and private companies from both domestic and abroad, contractors of Engineering Procurement Construction (EPC) and Independent Power Producer (IPP)
SWOT analysis on the nine elements of Business Model Canvas for the first business development is the expansion of the power plant construction project as the main contractor, increased sales in its core business in oil and gas supporting equipment industry
Summary
Infrastructure development is one of the important aspects in accelerating the national development process, improving competitiveness in the globalization era, and playing an important role to sustain the economic growth. The results of the analysis show that the BMC improvements for airport development in the future time are conducted by formulating strategies on the three elements i.e. key activities, key resources and channels. The main sources of information required to reveal the research objectives In this study, they were obtained from observations, focused-group discussions, and direct interviews with both internal and external respondents. The primary data were required to identify the current business model covering the nine elements of the Business Model Canvas, analyze internal and external factors, and conduct weighting to determine the strategic priority in each business development at PT. SWOT analysis and pairwise comparison were utilized on the nine elements of Business Model Canvas to formulate and determine strategy priorities on each business development of PT. Focus-group discussions were conducted to obtain key information from internal respondents regarding the company's internal and external conditions
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