Formulation of the Business Model of the Conch Shell Industry in Tanjung Balai: A Comparative Study of Small and Medium Industries

Samrin, Yossie Rossanty, Muhammad Dharma Tuah Putra Nasution and Irawan

International Journal of Science and Business, 2019, vol. 3, issue 6, 38-62

Abstract: The purpose of this study was to determine and analyze the SWOT formulation of the conch shell business industry in Tanjung Balai. Data processing and analysis methods used are factor and discriminant analysis using the Cochran and Kaiser Meyer Olkin Measure of Sampling (KMO) tests. The results of this study are to strengthen the results of the previous year’s research by exploring the potential of marketing strategies and comparisons of each industry. Meanwhile, the qualitative analysis used is the SWOT analysis. The population in this study were industrial craftsmen in Tanjung Balai, amounting to 38 SMI, which were directly sampled using census techniques. The results of this study that almost all respondents said this effort was necessary in the Blue Ocean Strategy formulation. The six Small and Medium Industries have a level of importance that is not the same as in the Blue Ocean strategy formulation. The loading value or correlation value obtained from the results of the orthogonal rotation of the varimax performed on the five competitive factors also result in 2 main components, such as the volume of contents and the contract system for the first component and the ease of raw materials and facilities for the second component. The situation in Tanjung Balai Small and Medium Industries (SMI) is a situation that describes the red ocean. It can be seen from the value curve of Tanjung Balai SMI which have a tendency to coincide and can be seen from the number of industry players who tend to increase and increase each other’s market share. Besides, each of the Tanjung Balai SMI also has a position as a business that offers excessively without adequate results. It can be seen from the value curve, which has a high factor value, so it shows the business making a substantial investment.

Keywords: Blue Ocean Formulation; Small and Medium Industries; SWOT Analysis Model (search for similar items in EconPapers)
Date: 2019
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