An Investigation of the Business Development of Pure Sari Tofu Factory, South Jakarta, Indonesia: Evidence from SWOT Anal-ysis

Syamruddin Syamruddin; Ita Yunita

doi:10.56225/finbe.v3i1.298

Authors

Syamruddin Syamruddin Faculty of Economics and Business, Pamulang University, Kota Tangerang Selatan, 15417 Banten, Indonesia
Ita Yunita Faculty of Economics and Business, Pamulang University, Kota Tangerang Selatan, 15417 Banten, Indonesia

DOI:

https://doi.org/10.56225/finbe.v3i1.298

Keywords:

SWOT Analysis, Business development, SWOT matrix, Small and Medium Enterprises

Abstract

Small and medium enterprises (SMEs) are important to Indonesia's economy. It is a significant catalyst for poverty alleviation and economic growth programs. One of the highly developed SME sectors is the tofu business. In Indonesia, tofu is an essential source of food. The tofu processing business thrives everywhere. One of the highly developed tofu processing businesses is the Sari Murni Tofu Factory, located in the south of Jakarta, Indonesia, established in 1995. This study was conducted using SWOT Analysis (Strengths, Weaknesses, Opportunities, and Threats) to evaluate the Business development of tofu. The research targeted 19 employees at the Sari Murni Tofu Factory. Employees are asked about the strengths, weaknesses, opportunities, and threats that exist in the company. The employees' answers are tabulated, which results in internal and external assessment of factor weights. The data analysis used SWOT Analysis, IFE and EFE matrix, IE matrix, SWOT matrix, and SWOT analysis diagram. The result indicates that the IFE matrix shows the factors' strengths and weaknesses, scoring 3.36. Then, the opportunity and threat factors score 3.19 in the EFE matrix. Based on the IE Matrix calculations, the company's position is in Cell I, where the appropriate strategy is growth and development. Besides that, nine strategies are obtained in the SWOT Matrix using the SO, WO, ST, and WT formulas. The results of the SWOT Analysis Diagram show that the company in the Quadrant I position supports aggressive strategies. From the analysis between IFE, EFE, IE, SWOT Matrix, and SWOT Analysis Diagram, an alternative strategy was obtained, namely developing product quality to maintain customer loyalty, creating jobs, maintaining the quality of products sold, and recruiting additional production employees who are more experienced.

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