BUSINESS MODEL INNOVATION AND STRATEGY FORMULATION FOR ENGINEERING CONSULTING FIRM CASE STUDY: PT. MTU

• Main Author: Ridho Kurnia Setiawati, Ainur
• Format: Theses
• Language: Indonesia
• Subjects: Manajemen umum
• Online Access: https://digilib.itb.ac.id/gdl/view/64964
• Institution: Institut Teknologi Bandung

The consulting firm's role becomes inevitable because of the scarcity of expertise in most companies in Indonesia. The consulting engineering firm provides study, analysis, and guides the company to make quick and correct decisions on their asset integrity. However, the requirement is varied between sectors, and thus providing added value by the engineering consulting company is not straightforward. There is also a business challenge among the engineering consulting firms because of the need for new skills, shortage of talent, and global business firms to expand the market in Indonesia. That is why innovation in service has become an important topic in today's competitive world. To understand the condition of the company, internal and external analyses were conducted at the firm level in an attempt to understand baseline product and portfolios as well as external opportunities, threats, and challenges. The data for the study was taken from a written interview with the engineering manager or director of power, petrochemical companies, and other related industries. The interview result was collected and analyzed using Nvivo software for qualitative data analysis. Research findings on business model innovation are discussed following the Amit and Zott framework, consisting of content, structure, and governance. New activities following BMI are laboratory testing, digital and progress reports, dashboard and integrity management, product or solution training, digital and cloud providers, and the last is AI and machine learning. Value proposition canvas is then created as a reference for mapping a business model canvas of the company. After that, we take the strategy to support business model innovation, namely leverage strategy, porter's generic strategy, and vertical integration strategy.