PROPOSED BUSINESS STRATEGY FOR RAGA STUDIO

• Main Author: KRISNALDI MAHDI (NIM 29316055), AMANDA
• Format: Theses
• Language: Indonesia
• Online Access: https://digilib.itb.ac.id/gdl/view/25445
• Institution: Institut Teknologi Bandung

Humans can do their daily activities effectively and feel happier with a healthy body and mind. Health would be categorized as something that is expensive if humans do not have good health and often get sick. Therefore, more awareness is needed to maintain and improve the health of body. To keep body to stay healthy, humans are encouraged to live a healthy lifestyle. Furthermore, health and fitness centers market also grows nowadays. Realizing this opportunity, Raga Studio as a fitness group class provider, has a big opportunity to grab many members. However, Raga Studio is facing lack of business strategy, fierce competition, and human resources inefficiency. This fitness studio has to solve and overcome these problems in order to generate more revenue and face challenges in the future. <br /> <br /> The research used qualitative approach to obtain the insight about Raga Studio by interviewing the office administrative manager as well as the owner and the customers, literature review also used in order to gain understanding related to the subject matter. The three strategic management tasks of AFI Framework (analyze, formulate, and implement) will be the guideline in conducting this research. Several analyses need to be conducted by identifying external environment analysis and internal environment analysis. PEST Analysis and Porter’s Five Forces are used to define the opportunities and threats of Raga Studio. The Resource-Based View and Business Model Canvas are conducted to understand the strengths and weaknesses of Raga Studio. SWOT Analysis will sum up the results from these frameworks. The author utilized TOWS matrix in order to help generate business strategies for Raga Studio. The results of strategic formulation from TOWS Matrix summed up in the proposed business model canvas. <br /> <br /> In order to overcome the aforementioned problems, appropriate business strategies and recommended business model are formulated. Afterwards, the implementation plan that allows Raga Studio to obtain information regarding the suggested activities and monitor its performance is needed. The plan will be focused in improving the quality of the service offerings, maintaining relationship with customers and employees, and also expanding potential market and partnership.