Business development strategy for chemical company in the construction industry segment : Case study of PT BASF distribution Indonesia - Performance materials division

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Baskoro, Bagas (2024) Business development strategy for chemical company in the construction industry segment : Case study of PT BASF distribution Indonesia - Performance materials division. Graduate thesis, Sekolah Tinggi Manajemen IPMI.

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Abstract

Construction is the 5th largest GDP contributor and investment in infrastructure development which will be the main focus of the Indonesian government. This study was conducted to develop business development strategies for PT BASF Distribution Indonesia, Performance Materials division supports the growing of the business in construction industry segment in which current revenue contribution only less 10%. The research was focused on three areas. First, the business strategies used by BASF Performance Materials are examined using the Business Model Canvas. Second, the internal factors were assessed through Internal Factor Analysis (IFA) and VRIO Analysis. Then, the external factors were analyzed using External Factor Analysis (EFA) and Porter's Five Forces Model analysis. Finally, SWOT matrix analysis was utilized to formulate the business strategy and AHP (Analytical Hierarchy Process) was used to prioritize the strategy. The finding revealed that BASF Performance Materials division key activities mostly on the sales, technical service, and strategic partnership in business-to-business area, particularly in chemical raw material with diverse products and industry application. The managerial implications of this research underscore the importance of strategy to increase sales revenue and volume, defend market share, and application diversification. The results of the strategy formulation were obtained from eleven alternative strategies in the area marketing, operational, financial, business model, and product innovation. Some alternative strategies are belonged to organic growth strategies such as develop new product formulation following market trend, conducting technical seminar inviting target customer, and qualify alternative distribution channel. Other strategy belongs to inorganic growth strategy which is an acquisition consideration. By implementing the recommended strategies along with the proposed road map implementation, BASF Performance Materials expect can secure and achieve sustainable business growth.

Item Type: Thesis (Graduate)
Subjects: H Social Sciences > H Social Sciences (General)
Divisions: Thesis > Master of Business Administration
Depositing User: Dwi Selviyana
Date Deposited: 05 Aug 2024 01:19
Last Modified: 05 Aug 2024 01:19
URI: http://repository.ipmi.ac.id/id/eprint/2539

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