The Formulation of Business Strategies Increasing Competitive Advantage During Covid-19 Pandemic

Abstract

The Covid 19 pandemic has harmed Small and Medium Industries by decreasing in market demand as a result of weakening people's purchasing power. The batik industry in Majalengka Regency is one of the sectors affected by Covid 19. It has resulted in a decrease in the level of product sales. This study aims to develop alternative in strengthening a competitive position. The research method used is qualitative and data techniques through research questionnaires, in-depth interviews, and literature. This study's analysis technique is IE (Internal-External Matrix) analysis, SPACE (Strategic Position and Action Evaluation Matrix), SWOT (Strengths-Weakness-Opportunities-Threats Matrix) in the formulation of alternative strategies, and QSPM (Quantitative Strategic Planning Matrix) analysis for priority decision-making. The results show that an alternative strategy suitable for the batik industry is a product development strategy through product innovation, maintaining existing markets, and developing new markets through online marketing. The research conclusion shows that the batik business during the pandemic still has the opportunity and strength to maintain its competitive advantage. Strategic decisions that can be used for the batik industry in Majalengka Regency during this pandemic are product development strategies by local wisdom-based designs, product innovations, and utilizing technology. Improving the quality of the human resources, building business networks and partnerships with the government and other parties, and motivation are the main priorities needed to implement strategies effectively and efficiently in maintaining and improving business during this time pandemic.