PROPOSED BUSINESS STRATEGY FOR PT GEOPRIMA SOLUSI TBK TO INCREASE REVENUE

• Main Author: Martinus, Yoas
• Format: Theses
• Language: Indonesia
• Online Access: https://digilib.itb.ac.id/gdl/view/76760
• Institution: Institut Teknologi Bandung

The development of a country relies on the improvement of its human resources and the establishment of effective infrastructure. Surveyor tools trading companies play a crucial role in supporting infrastructure projects by providing essential equipment for accurate measurement and mapping. However, the outbreak of the COVID-19 pandemic in early 2020 has affected businesses worldwide, including surveyor tools trading companies in Indonesia. The pandemic has presented a challenging environment for these companies, forcing them to adapt in the face of changing circumstances. PT Geoprima Solusi Tbk (PT GPSO) has a wide range of stakeholders involved in its business operations. These stakeholders include local and national government entities, state-owned construction companies, surveyor consultant companies, universities and academic institutions, mining companies, and the main supplier (SOUTH Group from China). Each stakeholder plays a significant role in the company's operations, contributing to its success and being impacted by the effects of the COVID-19 pandemic. PT Geoprima Solusi Tbk as surveyor tools trading company experienced a decline in revenue due to the negative effects of the COVID-19 pandemic on its stakeholders. The COVID-19 pandemic has significantly impacted PT Geoprima Solusi Tbk in several key areas. First, the company has faced supply chain disruptions due to global lockdowns and restrictions, particularly affecting their imports from SOUTH Group in China. This has led to difficulties in obtaining the necessary products and materials required for their operations. Additionally, the pandemic has resulted in reduced demand for surveying tools and equipment, as infrastructure projects have been delayed or postponed due to lockdown measures and restrictions on community activities in Indonesia. This reduction in demand is particularly evident in the construction industry, which is a significant customer segment for PT GPSO. Furthermore, health and safety concerns have emerged as a result of the pandemic, requiring surveyors to implement additional precautions while working. This study aims to explore and analyze the challenges and opportunities encountered by PT GPSO, with the objective of developing effective business strategies to generate increased revenues in the post-pandemic era and create an implementation plan for these strategies. This research uses qualitative methodology and data collection methods include in-depth interviews with the company's management for the primary data and document analysis for the secondary data. The analysis for the external environment of the company is done by using PESTEL analysis and Porter's Five Forces. The internal analysis is using McKinsey 7S Framework as a tool. The collected data is then analyzed using a SWOT analysis to evaluate the strengths, weaknesses, opportunities, and threats faced by PT Geoprima Solusi. The insights from the SWOT analysis are further utilized in the TOWS matrix, enabling the formulation of effective strategies. The identified strategic alternatives are then categorized using the Eisenhower Matrix, facilitating the selection of the most suitable strategies for implementation. The results of the study propose several business strategies suitable for PT Geoprima Solusi to enhance revenues in the post-pandemic period. These strategies cover website and social media optimization, strengthening digital marketing efforts, offering online training and education, and combating counterfeit products. To implement these strategies, an implementation plan with a duration of 2 years and 3 months is recommended, with a sequential and simultaneous approach based on the involved units. Key activities within each strategy are scheduled according to the provided timeline to achieve desired outcomes. The interdependence and order of strategy implementation are carefully considered to maximize effectiveness. Implementing these strategies will allow PT GPSO to enhance online visibility, engage with customers effectively, leverage digital marketing channels, generate additional revenue through online training, and differentiate itself from counterfeit products. This research provides a comprehensive roadmap for PT GPSO to navigate the challenges brought by the pandemic and seize the opportunities presented in the evolving business landscape.