PROPOSED BUSINESS STRATEGY FOR PETROMINDO TO INCREASE REVENUE

• Main Author: Dominius, Rikordias
• Format: Theses
• Language: Indonesia
• Online Access: https://digilib.itb.ac.id/gdl/view/53322
• Institution: Institut Teknologi Bandung

As a news, data & information portal that focuses on the oil and gas, energy and mining sectors in Indonesia, Petromindo already run its business in digital format. However, over time, Petromindo has experienced a decline in revenue in the last 2 years in all marketed product lines. This study looks for the root causes of this decline, both internal and external, and then analyzes and proposes business strategies that can increase Petromindo's revenue. External analysis was carried out on current customers and buyers through questionnaires and PESTLE, Porter's Five Forces, and industry analysis. Meanwhile, internal analysis is done by interviewing the sales team, journalists, and VRIO analysis instruments, and the marketing process. The analysis then elaborated through to TOWS matrix to get recommended actions and later combined with analysis comes from root cause analysis. The data used for the analysis comes from primary data through surveys, direct interviews, observations, and secondary data from similar company data, articles and publications. The results of the analysis are formulated into a business strategy proposal through the TOWS matrix process and the formulation of root causes. The proposed business strategy is stated by the proposed Business Model Canvas and resulted a general business strategies and implementation plant that can be executed.