PROPOSED BUSINESS STRATEGY AND BUSINESS MODEL FOR OZ RADIO BANDUNG

• Main Author: Dodi Amdani, Alan
• Format: Theses
• Language: Indonesia
• Subjects: Manajemen umum
• Online Access: https://digilib.itb.ac.id/gdl/view/57334
• Institution: Institut Teknologi Bandung

The rapid development of technology and the internet affects all existing business activities, especially in the media industry. There are many things that must be adjusted by the current media business to survive in the competition. This is felt especially in conventional media businesses such as TV, radio, and print media. The effects of these developments are also felt by Oz Radio Bandung as a media business actor. As a provider of entertainment and information services, Oz Radio Bandung must compete with the emergence of new types of digital media that make radio listeners move and eventually their listeners tend to decline from year to year. People nowadays prefer entertainment through their smartphones from social media and other platforms that can be accessed there. Changes in people's behavior in choosing entertainment from radio to other modern media make radio finally lose revenue. As we know radio can survive because of the income they get from advertising. However, with the decline in radio listeners and the increasing use of modern media, companies that want to advertise prefer new media which currently have more users than radio. Under these circumstances, Oz Radio Bandung must begin to re-evaluate their strategy and business model to remain afloat in the media competition which has been highly developed with all available technology. This research aims to find out what are the stages that need to be carried out by Oz Radio Bandung in developing a business strategy for the company. With the preparation process, the most appropriate strategy will be formed that can be implemented directly by the company. The strategies that have been obtained can change the existing business model, which of course the new business model will make Oz Radio Bandung more productive and more relevant to current industrial developments. The method used for this research is a qualitative method where the required data is obtained through interviews, observations, and from secondary data obtained on the internet, books, and journals. Several analyzes were also carried out to find out how things were inside and outside the company. Internal analysis is carried out using the Business Model Canvas, while external analysis is carried out using PESTEL analysis, competitor analysis, and customer analysis using a consumer decision making process approach. Furthermore, TOWS analysis is also carried out, followed by strategy formulation using TOWS analysis. From the strategies formed after the TOWS analysis is carried out, then which strategies can be selected as priorities according to the root problems that have been obtained previously. To get the priority strategy, a calculative calculation process is carried out using QSPM. From the root problems that have been obtained and the process of formulating business strategies that have been carried out, several strategies are formed that can be implemented by Oz Radio Bandung. The first is a strategy to address the root cause of the platform problem, where the strategy is to create program innovations that can connect online, off-air, social media, and on-air. Furthermore, for the root cause of traffic problems, Oz Radio Bandung needs to increase their social media activities with interesting content. Lastly, for management and its employees, it is necessary to formulate a good knowledge management system. Of all these strategies, if they have been implemented, they can change the Oz Radio Bandung business model so that it becomes a business model that is in accordance with the current state of the industry, customers, and technology. It is hoped that the formulation of this new strategy can make Oz Radio Bandung more productive and can also increase revenue so that the company can continue to run, develop, and be able to win in the competition.