Strategies for Developing Seaweed Processing Using the Business Model Canvas (BMC): A Case Study of PT Bantimurung Indah

Abstract

PT Bantimurung Indah, a seaweed processing company established in 1985 in Maros Regency, South Sulawesi, faces internal challenges of limited production technology and undeveloped derivative products, alongside external challenges of intensifying competition in the domestic and international carrageenan industry. This research aims to analyze PT Bantimurung Indah's business model with the BMC approach, evaluate the company's resources and capabilities through the VRIO framework, and formulate alternatives and priorities for business development strategies. The research used a descriptive qualitative approach with a case study method involving ten informants from internal and external parties of the company, with data collection techniques in the form of observation, interviews, questionnaires, and documentation. Data were analyzed using BMC, VRIO, IFAS-EFAS matrix, IE matrix, SWOT matrix, and QSPM. The results show that the company's nine elements of BMC have been doing well, but the business model is still focused on semi-finished products. VRIO's analysis identifies certification-licenses and the application of quality control as a source of sustainable competitive advantage. The total IFAS score of 3.32 and EFAS of 3.20 places the company in quadrant I of the IE matrix, which is a growth and build position. QSPM's analysis yields three highest strategic priorities, namely the development of value-added derivative products, the expansion of market segments through the diversification of derivative products, and responsiveness to changes in market trends. This research recommends a new business model for PT Bantimurung Indah by adding non-food market segments, a variety of derivative products, and digital promotional channels to strengthen the company's competitiveness.