Citation:

Mochammad Arsyad Zaid, Riza Sutjipto Mohammad. "Business Development Strategy of MSME Cafe (Study at My Yellow Cafe, Depok)" International Research Journal of Economics and Management Studies, Vol. 3, No. 9, pp. 311-317, 2024.

Abstract:

The MSME sector regarding the country's café industry will be explored in this paper. In fact, many factors, like a changing population, economic growth, and changing lifestyles, shaped the development of Indonesia's culinary environment. This is also supported by the growing popularity of various business ideas, especially when café shops have become a common interest. Global trends are now shifting towards digitalization; therefore, strategic business development is now crucial. This research study is, therefore, meant to serve as a reference to the implementation of digital strategies for Indonesian MSMEs in aid of gaining a competitive advantage and setting an exemplary practice for the sector at large. The purpose of this research work is to develop and recommend an ideal business strategy for My Yellow Café, which is an MSME entity. For this intent, the research study is to be based on a versatile and all-inclusive analytical framework that includes internal and external assessments. In this regard, internal analysis includes Functional Management and SW evaluation, while external analysis will be adapted from Porter's Five Forces model, OT analysis, and PEST (Political, Economic, Social, and Technological) analysis. The results then are collated in a SWOT (Strengths, Weaknesses, Opportunities, and Threats) matrix. The construction of the IFE and EFE matrices forms part of the research methodology, culminating in an Internal-External (IE) matrix. A Quantitative Strategic Planning Matrix (QSPM) is applied to ensure the objectivity of the strategy's prioritization aspect. The fact-finding analytical process permits the researchers to arrive at well-founded conclusions and make strategic recommendations regarding the development of management practices in My Yellow Café. Moreover, the study aims to solve current operational challenges and to support the organization in making decisions.

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Keywords:

Internal Analysis, External Analysis, Digital Transformation, QSPM.