Business Development Strategy Model of SMEs Through SWOT and EFE-IFE Analysis
Considering that the SME entrepreneurs of Gresik Regency are mostly young, educated and experienced, however their businesses are not yet in legal entities. This research situates the SME business development strategy model through SWOT and EFE-EFI analysis, aiming to identify the conditions and models of SME business development strategies to improve their performances. This research has interviewed 40 respondents who were selected in multi stage, and analyzed through SWOT and EFE-IFE analysis. The result of this research explains that the ability of SME entrepreneurs in managing business and the achievement level of marketing performance is good, except the ability to manage finances. In addition, external conditions support these SMEs.
Keywords: SWOT, EFE-IFE, business development strategy, SMEs
Abdullah, M. A., Kedah, Z., & Anwar, M. A. (2015). Effects of Islamic entrepreneurship mind programming on entrepreneurial performance through entrepreneurial motivation. International Journal of Business and Globalisation, 15(3), 294–312. https://doi.org/10.1504/IJBG.2015.071909
Abubakar, N., & Bello, G. B. (2013). Strengths , Weaknesses , Opportunities and Threats ( Swot ) Analysis on Globacom Ltd. International Journal of Information Technology and Business Management, 16(1), 83–91. https://doi.org/10.1300/J156v02n03_05
Ahmad, S., & Burki, A. A. (2016). Banking deregulation and allocative efficiency in Pakistan. Applied Economics, 48(13), 1182–1196. https://doi.org/10.1080/00036846.2015.1096001
Ahmed, A. M. E. T. (2010). Islamic banking: How to manage risk and improve profitability. John Wiley & Sons.
Ali, H., Mukhtar, & Sofwan. (2016). Work ethos and effectiveness of management transformative leadership boarding school in the Jambi Province. International Journal of Applied Business and Economic Research, 14(11), 7451–7471.
Amin, H. (2017). Consumer behaviour of Islamic home financing: Investigating its determinants from the theory of Islamic consumer behaviour. Humanomics, 33(4), 517–548. https://doi.org/10.1108/H-12-2016-0102
Bian, X., Lin, Z., & Liu, Y. (2018). House price, loan-to-value ratio and credit risk. Journal of Banking and Finance, 92, 1–12. https://doi.org/10.1016/j.jbankfin.2018.04.006
Bloomsbury.com. (n.d.). Islamic Finance: Instruments and Markets. Retrieved January 18, 2018, from https://www.bloomsbury.com/us/islamic-finance-instruments-and-markets-9781849300179/
Carneiro-Da-Cunha, J. A., Dos Santos, M. G., De Souza, L. J., Alssabak, N. A. M., & Macau, F. R. (2015). The history of an Islamic entrepreneurship: Achieving exporting-network leadership through religious legitimacy. International Journal of Business and Globalisation, 15(3), 272–293. https://doi.org/10.1504/IJBG.2015.071921
Chan, X. (2011). A SWOT Study of The Development Strategy of Haier Group as One of The Most Successful Chinese Enterprises. International Journal of Business and Social Science 2, 11, 147–153.
Jain, A. (2015). SWOT Analysis in Thirukkural : Comparative Analysis with Humphrey SWOT Matrix. IQSR Journal of Business and Management (IQSR-JBM) 7, 1, 31–34.
Kashif, M., Abdur Rehman, M., & Pileliene, L. (2016). Customer perceived service quality and loyalty in Islamic banks. TQM Journal, 28(1), 62–78. https://doi.org/10.1108/TQM-01-2014-0006
Kassim, S. H., Redzuan, N. H., & Harun, N. Z. (2017). What drives house price in Malaysia? In search of an alternative pricing benchmark for islamic home financing. Planning Malaysia, 15(4), 21–34.
Kreiner, Noga Collins., Wall, G. (2007). Evaluating tourism potential : A SWOT analysis of The Wester Negev. Review 55, 1, 51–63.
Maamor, S., Rahman, N. L. A., & Hamed, A. B. (2016). Determinants of islamic home financing product selection among lower income group in Kuala Lumpur,Malaysia. International Journal of Economics and Financial Issues, 6(Special Issue), 197–201.
Oreski, D. (2012). Strategy development by using SWOT-AHP. TEM Journal 1, 4, 283–291.
Osita, Christian Ifediora., Onyebuchi R, I. . J. N. (2014). Organizational’s stability and productivity: the role of SWOT analysis an acronym for strength, weakness, opportunities, and threat. International Journal of Innovative and Applied Reseach 2, 9, 23–32.
Purwono, Joko, Suryaningsih, Sri., Putri, R. T. (2015). Strategi Pengembangan Bisnis Rumah Tempe Indonesia di Kota Bogor, Propinsi Jawa Barat. Jurnal NeO-Bis 9, 1, 60–71.
Rafay, A., & Farid, S. (2017). Dynamic relationship between islamic banking system and real economic activity: Evidence from Pakistan. Journal of King Abdulaziz University, Islamic Economics, 30(2), 97–116. https://doi.org/10.4197/Islec.30-2.10
Ramavanavar, Gomesh M.; Charantimath, P. M. (2012). Strategic Formulation Using TOWS Matrix- A Case Study. International Journal of Research and Development 1, 1, 2–9.
Rangkuti, F. (2016). Analisa SWOT: Tehnik Membedah Kasus Bisnis Analisa SWOT. Jakarta: Gramedia Pustaka Utama.
Razak, D. A., & Taib, F. M. (2011). Consumers’ perception on Islamic home financing: Empirical evidences on Bai Bithaman Ajil (BBA) and diminishing partnership (DP) modes of financing in Malaysia. Journal of Islamic Marketing, 2(2), 165–176. https://doi.org/10.1108/17590831111139875
S Muhammad., Iftekhar, Hanan. Adeel., Aslam, Ayub, A., Razza. (2013). No Title. A Conceptual Framework on Evaluating SWOT Analysis As The Mediator in Strategic Marketing Planning Through Marketing Intelligence, 2, 91–98.
Salmi, M. A. A. Al, & Hasnan, N. B. (2015). SWOT and TOWS matrix e-Government analysis review on Sultanate of Oman. International Journal of Learning & Development, 5(4), 13–23. https://doi.org/10.5296/ ijld.v5i4.8641
Sancoko, A. H. (2015). Strategi Pengembangan Bisnis Usaha Makanan dan Minuman Pada Depot Time To Eat Surabaya. Agora, 3, 185–194.
Wilantara, R. F. Susilawati. (2016). Strategi & Kebijakan Pengembangan UMKM. Upaya Meningkatkan Daya Saing UMKM Nasional di Era MEA. Bandung: Refika Aditama.
Article StatisticAbstract view : 168 times
PDF views : 127 times
How To Cite This :
- There are currently no refbacks.
This work is licensed under a Creative Commons Attribution-NonCommercial 4.0 International License.