Developing business strategies using SWOT analysis in a color crackers industry

Abstract

This research was conducted in color crackers industry in Indonesia. Color crackers are snacks colored in red and white, found as additional in many Indonesian traditional foods. The used traditional business strategies are not appropriate for the market condition in the industrial 4.0 era. The aim of this study is to develop business strategies in this market condition. This research was conducted in several steps using SWOT Analysis, weighting assessment for SWOT questions, Internal Factor Analysis Summary, External Factor Analysis Summary, and Creating SWOT Matrix. Data were collected through interviews and questionnaires with internal and external stakeholders. The result of this research is the business positioned in the first quadrant. This gives the explanation that the traditional strategies used already inappropriate with the current condition. They need to use mixed SO (Strength - Opportunity) strategies or called as the aggressive strategy to win the market competition. The developed SO strategies are: creating distribution network with the customers and utilizing renewable technology.