Business Strategy Formulation for PT Silka Teguh Sejahtera (Sciencom) to Elevate its Revenue

Abstract

PT Silka Teguh Sejahtera (Sciencom) is one of Indonesia’s IT and computer training providers. In the past several years, the company faces limited revenue growth despite its strong reputation and high-quality training services as well as promising market potential for IT and computer training provider. This happens because Sciencom main target customer base is government institutions which have faced budget reductions for education and training. This study aims to formulate a business strategy for Sciencom to enhance its revenue by identifying the factors influencing the limited growth of the company’s revenue. The primary data is gathered from qualitative method in which the author conducted interviews with Sciencom’s employees and customers representatives in order to analyze the internal and external factors to the business issue. To support the finding, the author uses secondary data collected from company’s reports, journals, books, and websites. Through thorough internal and external analysis, the author was able to propose a new Segmentation, Targeting, and Positiong (STP) and Marketing Mix 7Ps to develop Sciencom’s business strategy using the Ansoff Matrix Growth Strategy that the company can utilize in order to elevate its revenue amidst a competitive market. The proposed strategy include expanding the target customer base to state-owned enterprises and fresh graduates, integrating a Leaning Management System (LMS) for online training, offering ERP solutions, partnering with universities for Swakelola Type 2 projects, forming a digital marketing and human resources departments, and regularly updating IT courses, certification, and promotional package offerings.