The Strategy of Business Development of UMKM Bakso Goreng using Business Model Canvas and SWOT Analysis

Abstract

This study aims to determine the business development strategy of MSME of Bakso Goreng using the Business Model Canvas and SWOT Analysis. The research method both quantitative and qualitative method are applied with a descriptive approach. The population and sample include owners, customers, and the surrounding community using a purposive sampling technique. Data collection methods are carried out through observation, interviews, documentation and triangulation. The data analysis technique applied is the Miles and Huberman Model for qualitative data and SWOT for quantitative data. The results of the study indicate that 1) MSME of Bakso Goreng has implemented nine model elements in the Business Model Canvas; 2) MSME of Bakso Goreng is in a turnaround strategy where the company’s internal factors have weaknesses while the external factors have good opportunities;3) The Strategy of S-O, W-O, S-T and W-T needs to implement in the MSME. Thus, this research recommends to expand market segmentation and distribution channels, improve packaging, add more personnel, capital investment, and attend more events.