Abuzaid, A. N. (2018). Scenario planning as approach to improve the strategic performance of multinational corporations (MNCS). Business: Theory and Practice, 19, 195–207. https://doi.org/10.3846/btp.2018.20
Addae-korankye, A., & Aryee, B. A. (2021). THE RELATIONSHIP BETWEEN STRATEGIC MANAGEMENT PRACTICES AND THE GROWTH OF SMALL AND MEDIUM ENTERPRISES ( SMES ) IN GHANA. 22(1), 222–230.
Alharbi, M., Dowling, P. J., & Bhatti, M. I. (2019). Strategic planning practices in the telecommunications industry: evidence from Saudi Arabia. Review of International Business and Strategy, 29(4), 269–285. https://doi.org/10.1108/RIBS-03-2018-0025
Alkaersig, L., Beukel, K., Reichstein, T., Alkaersig, L., Beukel, K., & Reichstein, T. (2015). IP and Economic Performance. Intellectual Property Rights Management, 9, 176–190. https://doi.org/10.1057/9781137469533_10
Amit, R., & Schoemaker, P. J. H. (1993). Strategic assets and organizational rent. Strategic Management Journal, 14(1), 33–46. https://doi.org/10.1002/smj.4250140105
Andreica, M. (2013). Conclusions on modeling development programs within economic organizations. 56–62.
Andriani, M., Samadhi, T. M. A. A., Siswanto, J., & Suryadi, K. (2018). Aligning business process maturity level with SMEs growth in Indonesian fashion industry. International Journal of Organizational Analysis, 26(4), 709–727. https://doi.org/10.1108/IJOA-08-2017-1215
Ansoff. (1965). Corporate Strategy: An Analytic Approach to Business Policy for Growth and Expansion.
Bachtiar, N. K. (2020). When Can SMEs Diversify ? A Study of Growth Stage Model Analysis. Journal of Economics, Business and Management, 8(1), 30–37. https://doi.org/10.18178/joebm.2020.8.1.608
Banham, H. C. (2010). External Environmental Analysis For Small And Medium Enterprises (SMEs). Journal of Business & Economics Research (JBER), 8(10). https://doi.org/10.19030/jber.v8i10.770
Barney, J. (1991). Firm Resources and Sustained Competitive Advantage. Journal of Management, 17(1), 99–120. https://doi.org/10.1177/014920639101700108
Barney, J., Wright, M., & Ketchen, D. J. (2001). The resource-based view of the firm: Ten years after 1991. Journal of Management, 27(6), 625–641. https://doi.org/10.1177/014920630102700601
Benito-Osorio, D., Colino, A., Guerras-Martín, L. Á., & Zúñiga-Vicente, J. Á. (2020). The combined effects of product and geographical diversification on performance: Evidence in manufacturing SMEs. BRQ Business Research Quarterly, 23(2), 91–106. https://doi.org/10.1177/2340944420916332
Bharadwaj, S. G., Varadarajan, P. R., & Fahy, J. (1993). Sustainable Competitive Advantage in Service Industries: A Conceptual Model and Research Propositions. Journal of Marketing, 57(4), 83. https://doi.org/10.2307/1252221
Boz, İ. T., Yiğit, İ., & Anıl, İ. (2013). The Relationship between Diversification Strategy and Organizational Performance: A Research Intented for Comparing Belgium and Turkey. Procedia - Social and Behavioral Sciences, 99, 997–1006. https://doi.org/10.1016/j.sbspro.2013.10.573
Budi, H. D. (2018). Jurnal Imajinasi. Jurnal Imajinasi, XII(2), 57–64.
Cândea, M., & Bogan, E. (2013). Romanian characteristic tourist products and their promotion perspectives. Quality - Access to Success, 14(SUPPL. 1), 200–207.
Cândea, M., Bogan, E., & Vărvăruc, D. (2014). The structure of the strategic plan in tourism marketing. International Journal of Academic Research in Environment and Geography, 1(1), 30–36. https://doi.org/10.6007/IJAREG/v1-i1/937
Canh, N. T., Liem, N. T., Thu, P. A., & Khuong, N. V. (2019). The impact of innovation on the firm performance and corporate social responsibility of Vietnamese manufacturing firms. Sustainability (Switzerland), 11(13). https://doi.org/10.3390/su11133666
Castaldi, C., & Giarratana, M. S. (2018). Diversification, Branding, and Performance of Professional Service Firms. Journal of Service Research, 21(3), 353–364. https://doi.org/10.1177/1094670518755315
CIUREA, C., & FILIP, F. G. (2015). Validation of a Business Model for Cultural Heritage Institutions. Informatica Economica, 20(2/2015), 46–56. https://doi.org/10.12948/issn14531305/19.2.2015.05
Fiates, G. G. S., Fiates, J. E. A., Serra, F. A. R., & Ferreira, M. P. (2010). Innovation environment in small technology-based companies. Journal of Technology Management and Innovation, 5(3), 81–95. https://doi.org/10.4067/s0718-27242010000300006
Fuertes, G., Alfaro, M., Vargas, M., Gutierrez, S., Ternero, R., & Sabattin, J. (2020). Conceptual Framework for the Strategic Management: A Literature Review - Descriptive. Journal of Engineering (United Kingdom), 2020. https://doi.org/10.1155/2020/6253013
Grant, R. M. (1991). Grant_1991. Knowledge and Strategy, 3–24.
Grant, R. M. (2003). Strategic planning in a turbulent environment: Evidence from the oil majors. Strategic Management Journal, 24(6), 491–517. https://doi.org/10.1002/smj.314
Hadiwidjojo, D., & Sudarma, M. (2013). Diversification Linkage Model and Firm Performance : A Literature Review. 3(1), 36–42.
Hai, H. L. (2008). Assessing the SMEs’ competitive strategies on the impact of environmental factors: A quantitative SWOT analysis application. WSEAS Transactions on Information Science and Applications, 5(12), 1701–1710. https://doi.org/10.5772/21472
Hatta, I. H., Riskarini, D., & Ichwani, T. (2018). Sme Business Development Strategy : 36, 537–543.
Helms, M. M., & Nixon, J. (2010). Exploring SWOT analysis – where are we now?: A review of academic research from the last decade. In Journal of Strategy and Management (Vol. 3, Issue 3). https://doi.org/10.1108/17554251011064837
Herliana, S., Lawiyah, N., & Aina, Q. (2018). SWOT analysis approach on SME’s entrepreneurial competency. Academy of Entrepreneurship Journal, 24(2), 1–6.
Hodinková, M., & Sadovský, Z. (2016). The benefits of corporate social responsibility introduction in small and medium-sized enterprises: A systematic review of the literature. Business: Theory and Practice, 17(4), 345–352. https://doi.org/10.3846/BTP.17.11130
Hoppe, M. (2015). Journal of intelligence studies in business. Journal of Intelligence Studies in Business, 5(3), 47–56. https://ojs.hh.se/index.php/JISIB/article/view/319/188
Houben, G., Lenie, K., & Vanhoof, K. (1999). A Scientific Approach to Reality Based Training. Decision Support Systems, 26(2), 125–135.
Hunt, S. D., & Morgan, R. M. (1995). The Comparative Advantage Theory of Competition. Journal of Marketing, 59(2), 1. https://doi.org/10.2307/1252069
Hunt, S. D., & Morgan, R. M. (1997). Resource-advantage theory: A snake swallowing its tail or a general theory of competition? Journal of Marketing, 61(4), 74–82. https://doi.org/10.2307/1252088
Khan, R. U., Salamzadeh, Y., Shah, S. Z. A., & Hussain, M. (2021). Factors affecting women entrepreneurs’ success: a study of small- and medium-sized enterprises in emerging market of Pakistan. Journal of Innovation and Entrepreneurship, 10(1). https://doi.org/10.1186/s13731-021-00145-9
Kozlenkova, I. V., Samaha, S. A., & Palmatier, R. W. (2014). Resource-based theory in marketing. Journal of the Academy of Marketing Science, 42(1), 1–21. https://doi.org/10.1007/s11747-013-0336-7
Kyengo, J. M., & Kilika, J. (2017). Strategic Assets, Competitive Capabilities and Firm Performance: Review of the Literature. Journal of Business and Economic Development, 2(3), 140–147. https://doi.org/10.11648/j.jbed.20170203.11
Lee, K. L., Huang, W. C., & Teng, J. Y. (2009). Locating the competitive relation of global logistics hub using quantitative SWOT analytical method. Quality and Quantity, 43(1), 87–107. https://doi.org/10.1007/s11135-007-9087-1
Meher, B. K., Hawaldar, I. T., Mohapatra, L., Spulbar, C., Birau, R., & Rebegea, C. (2021). The impact of digital banking on the growth of micro, small and medium enterprises (Msmes) in india: A case study. Business: Theory and Practice, 22(1), 18–28. https://doi.org/10.3846/btp.2021.12856
Namada, J. M. (2018). Organizational learning and competitive advantage. Handbook of Research on Knowledge Management for Contemporary Business Environments, May 2018, 86–104. https://doi.org/10.4018/978-1-5225-3725-0.ch006
Nouri, P. (2021). That’s why they didn’t let it go: exploring the roots of women entrepreneurs’ escalation of commitment. Journal of Entrepreneurship in Emerging Economies, 13(2), 213–230. https://doi.org/10.1108/JEEE-02-2020-0034
Oakley, K. (2006). Include Us out—economic development and social policy in the creative industries. Cultural Trends, 15(4), 255–273. https://doi.org/10.1080/09548960600922335
Oreski, D. (2012). Strategy development by using SWOT-AHP. TEM Journal, 1(4).
Palich, L. E., Cardinal, L. B., & Miller, C. C. (2016). Strategic Management Journal,. 21(2), 155–174.
Prahalad, C. K., & Hamel, G. (2009). The core competence of the corporation. Knowledge and Strategy, 41–60. https://doi.org/10.1016/b978-0-7506-7223-8.50003-4
Rangone, A. (1999). A Resource-Based Approach to Strategy Analysis in Small-Medium Sized Enterprises. Small Business Economics, 12(3), 233–248. https://doi.org/10.1023/A:1008046917465
Science, S. O., & Oct, N. S. (2016). A Resource-Based Theory of the Firm : Knowledge versus Opportunism Author ( s ): Kathleen R . Conner and C . K . Prahalad Published by : INFORMS Stable URL : http://www.jstor.org/stable/2635286 Accessed : 15-03-2016 12 : 31 UTC Your use of the JSTOR archi. Organization Science, 7(5), 477–501.
Srivastava, M., Franklin, A., & Martinette, L. (2013). Building a sustainable competitive advantage. Journal of Technology Management and Innovation, 8(2), 47–60. https://doi.org/10.4067/s0718-27242013000200004
Stefan, D., Vasile, V., Oltean, A., Comes, C. A., Stefan, A. B., Ciucan-Rusu, L., Bunduchi, E., Popa, M. A., & Timus, M. (2021). Women entrepreneurship and sustainable business development: Key findings from a swot–ahp analysis. Sustainability (Switzerland), 13(9), 1–18. https://doi.org/10.3390/su13095298
Suratman, B., Soesatyo, Y., Sulistyowati, R., & Subroto, W. T. (2017). Development Model and Small Medium Industry Strategy in Gerbang Kertosusilo Indonesia. International Review of Management and Marketing, 7(4), 171–179.
Sutisna MN, D., & Haizam Mohd Saudi, M. (2018). Human Capital in Improving Creative Industrial Performance: A study in the Creative Industry of Batik Trusmi, Cirebon District, West Java. International Journal of Engineering & Technology, 7(4.34), 295. https://doi.org/10.14419/ijet.v7i4.34.25298
Szymańska, E., Dziedzic, E., & Rutkowski, A. M. (2017). Organisational innovations in health resort-based tourism. Business: Theory and Practice, 18, 54–63. https://doi.org/10.3846/btp.2017.006
Utami, R. M., & Lantu, D. C. (2014). Development Competitiveness Model for Small-Medium Enterprises among the Creative Industry in Bandung. Procedia - Social and Behavioral Sciences, 115(Iicies 2013), 305–323. https://doi.org/10.1016/j.sbspro.2014.02.438
Valentin, E. K. (2001). Swot Analysis from a Resource-Based View. Journal of Marketing Theory and Practice, 9(2), 54–69. https://doi.org/10.1080/10696679.2001.11501891
Vance, C. M. (2012). The re-source-based view of the firm. Journal of Management Inquiry, 21(1), 124. https://doi.org/10.1177/1056492611436225
Vlados, C. (2019). On a correlative and evolutionary SWOT analysis. Journal of Strategy and Management, 12(3), 347–363. https://doi.org/10.1108/JSMA-02-2019-0026
Widjajanti, K., Nuryakin, & Sugiyanto, E. K. (2020). The synergy between academic support, government regulation, business sector, and civil society to enhancing innovation ecosystem Indonesian SMEs. Journal of Educational and Social Research, 10(5). https://doi.org/10.36941/JESR-2020-0092
Widjajanti, K., & Widodo. (2016). Improving organizational innovation by human capital, knowledge sharing and organizational learning base. International Business Management, 10(9). https://doi.org/10.3923/ibm.2016.1599.1609
Wiid, J. A., Cant, M. C., & Holtzhausen, L. (2015). SWOT analysis in the small business sector of South Africa: Friend or foe? Corporate Ownership and Control, 13(1CONT4), 446–453. https://doi.org/10.22495/cocv13i1c4p3
Yüksel, İ. (2012). An Integrated Approach with Group Decision-Making for Strategy Selection in SWOT Analysis. International Journal of Academic Research in Business and Social Sciences, 2(11), 134–162.
Addae-korankye, A., & Aryee, B. A. (2021). THE RELATIONSHIP BETWEEN STRATEGIC MANAGEMENT PRACTICES AND THE GROWTH OF SMALL AND MEDIUM ENTERPRISES ( SMES ) IN GHANA. 22(1), 222–230.
Alharbi, M., Dowling, P. J., & Bhatti, M. I. (2019). Strategic planning practices in the telecommunications industry: evidence from Saudi Arabia. Review of International Business and Strategy, 29(4), 269–285. https://doi.org/10.1108/RIBS-03-2018-0025
Alkaersig, L., Beukel, K., Reichstein, T., Alkaersig, L., Beukel, K., & Reichstein, T. (2015). IP and Economic Performance. Intellectual Property Rights Management, 9, 176–190. https://doi.org/10.1057/9781137469533_10
Amit, R., & Schoemaker, P. J. H. (1993). Strategic assets and organizational rent. Strategic Management Journal, 14(1), 33–46. https://doi.org/10.1002/smj.4250140105
Andreica, M. (2013). Conclusions on modeling development programs within economic organizations. 56–62.
Andriani, M., Samadhi, T. M. A. A., Siswanto, J., & Suryadi, K. (2018). Aligning business process maturity level with SMEs growth in Indonesian fashion industry. International Journal of Organizational Analysis, 26(4), 709–727. https://doi.org/10.1108/IJOA-08-2017-1215
Ansoff. (1965). Corporate Strategy: An Analytic Approach to Business Policy for Growth and Expansion.
Bachtiar, N. K. (2020). When Can SMEs Diversify ? A Study of Growth Stage Model Analysis. Journal of Economics, Business and Management, 8(1), 30–37. https://doi.org/10.18178/joebm.2020.8.1.608
Banham, H. C. (2010). External Environmental Analysis For Small And Medium Enterprises (SMEs). Journal of Business & Economics Research (JBER), 8(10). https://doi.org/10.19030/jber.v8i10.770
Barney, J. (1991). Firm Resources and Sustained Competitive Advantage. Journal of Management, 17(1), 99–120. https://doi.org/10.1177/014920639101700108
Barney, J., Wright, M., & Ketchen, D. J. (2001). The resource-based view of the firm: Ten years after 1991. Journal of Management, 27(6), 625–641. https://doi.org/10.1177/014920630102700601
Benito-Osorio, D., Colino, A., Guerras-Martín, L. Á., & Zúñiga-Vicente, J. Á. (2020). The combined effects of product and geographical diversification on performance: Evidence in manufacturing SMEs. BRQ Business Research Quarterly, 23(2), 91–106. https://doi.org/10.1177/2340944420916332
Bharadwaj, S. G., Varadarajan, P. R., & Fahy, J. (1993). Sustainable Competitive Advantage in Service Industries: A Conceptual Model and Research Propositions. Journal of Marketing, 57(4), 83. https://doi.org/10.2307/1252221
Boz, İ. T., Yiğit, İ., & Anıl, İ. (2013). The Relationship between Diversification Strategy and Organizational Performance: A Research Intented for Comparing Belgium and Turkey. Procedia - Social and Behavioral Sciences, 99, 997–1006. https://doi.org/10.1016/j.sbspro.2013.10.573
Budi, H. D. (2018). Jurnal Imajinasi. Jurnal Imajinasi, XII(2), 57–64.
Cândea, M., & Bogan, E. (2013). Romanian characteristic tourist products and their promotion perspectives. Quality - Access to Success, 14(SUPPL. 1), 200–207.
Cândea, M., Bogan, E., & Vărvăruc, D. (2014). The structure of the strategic plan in tourism marketing. International Journal of Academic Research in Environment and Geography, 1(1), 30–36. https://doi.org/10.6007/IJAREG/v1-i1/937
Canh, N. T., Liem, N. T., Thu, P. A., & Khuong, N. V. (2019). The impact of innovation on the firm performance and corporate social responsibility of Vietnamese manufacturing firms. Sustainability (Switzerland), 11(13). https://doi.org/10.3390/su11133666
Castaldi, C., & Giarratana, M. S. (2018). Diversification, Branding, and Performance of Professional Service Firms. Journal of Service Research, 21(3), 353–364. https://doi.org/10.1177/1094670518755315
CIUREA, C., & FILIP, F. G. (2015). Validation of a Business Model for Cultural Heritage Institutions. Informatica Economica, 20(2/2015), 46–56. https://doi.org/10.12948/issn14531305/19.2.2015.05
Fiates, G. G. S., Fiates, J. E. A., Serra, F. A. R., & Ferreira, M. P. (2010). Innovation environment in small technology-based companies. Journal of Technology Management and Innovation, 5(3), 81–95. https://doi.org/10.4067/s0718-27242010000300006
Fuertes, G., Alfaro, M., Vargas, M., Gutierrez, S., Ternero, R., & Sabattin, J. (2020). Conceptual Framework for the Strategic Management: A Literature Review - Descriptive. Journal of Engineering (United Kingdom), 2020. https://doi.org/10.1155/2020/6253013
Grant, R. M. (1991). Grant_1991. Knowledge and Strategy, 3–24.
Grant, R. M. (2003). Strategic planning in a turbulent environment: Evidence from the oil majors. Strategic Management Journal, 24(6), 491–517. https://doi.org/10.1002/smj.314
Hadiwidjojo, D., & Sudarma, M. (2013). Diversification Linkage Model and Firm Performance : A Literature Review. 3(1), 36–42.
Hai, H. L. (2008). Assessing the SMEs’ competitive strategies on the impact of environmental factors: A quantitative SWOT analysis application. WSEAS Transactions on Information Science and Applications, 5(12), 1701–1710. https://doi.org/10.5772/21472
Hatta, I. H., Riskarini, D., & Ichwani, T. (2018). Sme Business Development Strategy : 36, 537–543.
Helms, M. M., & Nixon, J. (2010). Exploring SWOT analysis – where are we now?: A review of academic research from the last decade. In Journal of Strategy and Management (Vol. 3, Issue 3). https://doi.org/10.1108/17554251011064837
Herliana, S., Lawiyah, N., & Aina, Q. (2018). SWOT analysis approach on SME’s entrepreneurial competency. Academy of Entrepreneurship Journal, 24(2), 1–6.
Hodinková, M., & Sadovský, Z. (2016). The benefits of corporate social responsibility introduction in small and medium-sized enterprises: A systematic review of the literature. Business: Theory and Practice, 17(4), 345–352. https://doi.org/10.3846/BTP.17.11130
Hoppe, M. (2015). Journal of intelligence studies in business. Journal of Intelligence Studies in Business, 5(3), 47–56. https://ojs.hh.se/index.php/JISIB/article/view/319/188
Houben, G., Lenie, K., & Vanhoof, K. (1999). A Scientific Approach to Reality Based Training. Decision Support Systems, 26(2), 125–135.
Hunt, S. D., & Morgan, R. M. (1995). The Comparative Advantage Theory of Competition. Journal of Marketing, 59(2), 1. https://doi.org/10.2307/1252069
Hunt, S. D., & Morgan, R. M. (1997). Resource-advantage theory: A snake swallowing its tail or a general theory of competition? Journal of Marketing, 61(4), 74–82. https://doi.org/10.2307/1252088
Khan, R. U., Salamzadeh, Y., Shah, S. Z. A., & Hussain, M. (2021). Factors affecting women entrepreneurs’ success: a study of small- and medium-sized enterprises in emerging market of Pakistan. Journal of Innovation and Entrepreneurship, 10(1). https://doi.org/10.1186/s13731-021-00145-9
Kozlenkova, I. V., Samaha, S. A., & Palmatier, R. W. (2014). Resource-based theory in marketing. Journal of the Academy of Marketing Science, 42(1), 1–21. https://doi.org/10.1007/s11747-013-0336-7
Kyengo, J. M., & Kilika, J. (2017). Strategic Assets, Competitive Capabilities and Firm Performance: Review of the Literature. Journal of Business and Economic Development, 2(3), 140–147. https://doi.org/10.11648/j.jbed.20170203.11
Lee, K. L., Huang, W. C., & Teng, J. Y. (2009). Locating the competitive relation of global logistics hub using quantitative SWOT analytical method. Quality and Quantity, 43(1), 87–107. https://doi.org/10.1007/s11135-007-9087-1
Meher, B. K., Hawaldar, I. T., Mohapatra, L., Spulbar, C., Birau, R., & Rebegea, C. (2021). The impact of digital banking on the growth of micro, small and medium enterprises (Msmes) in india: A case study. Business: Theory and Practice, 22(1), 18–28. https://doi.org/10.3846/btp.2021.12856
Namada, J. M. (2018). Organizational learning and competitive advantage. Handbook of Research on Knowledge Management for Contemporary Business Environments, May 2018, 86–104. https://doi.org/10.4018/978-1-5225-3725-0.ch006
Nouri, P. (2021). That’s why they didn’t let it go: exploring the roots of women entrepreneurs’ escalation of commitment. Journal of Entrepreneurship in Emerging Economies, 13(2), 213–230. https://doi.org/10.1108/JEEE-02-2020-0034
Oakley, K. (2006). Include Us out—economic development and social policy in the creative industries. Cultural Trends, 15(4), 255–273. https://doi.org/10.1080/09548960600922335
Oreski, D. (2012). Strategy development by using SWOT-AHP. TEM Journal, 1(4).
Palich, L. E., Cardinal, L. B., & Miller, C. C. (2016). Strategic Management Journal,. 21(2), 155–174.
Prahalad, C. K., & Hamel, G. (2009). The core competence of the corporation. Knowledge and Strategy, 41–60. https://doi.org/10.1016/b978-0-7506-7223-8.50003-4
Rangone, A. (1999). A Resource-Based Approach to Strategy Analysis in Small-Medium Sized Enterprises. Small Business Economics, 12(3), 233–248. https://doi.org/10.1023/A:1008046917465
Science, S. O., & Oct, N. S. (2016). A Resource-Based Theory of the Firm : Knowledge versus Opportunism Author ( s ): Kathleen R . Conner and C . K . Prahalad Published by : INFORMS Stable URL : http://www.jstor.org/stable/2635286 Accessed : 15-03-2016 12 : 31 UTC Your use of the JSTOR archi. Organization Science, 7(5), 477–501.
Srivastava, M., Franklin, A., & Martinette, L. (2013). Building a sustainable competitive advantage. Journal of Technology Management and Innovation, 8(2), 47–60. https://doi.org/10.4067/s0718-27242013000200004
Stefan, D., Vasile, V., Oltean, A., Comes, C. A., Stefan, A. B., Ciucan-Rusu, L., Bunduchi, E., Popa, M. A., & Timus, M. (2021). Women entrepreneurship and sustainable business development: Key findings from a swot–ahp analysis. Sustainability (Switzerland), 13(9), 1–18. https://doi.org/10.3390/su13095298
Suratman, B., Soesatyo, Y., Sulistyowati, R., & Subroto, W. T. (2017). Development Model and Small Medium Industry Strategy in Gerbang Kertosusilo Indonesia. International Review of Management and Marketing, 7(4), 171–179.
Sutisna MN, D., & Haizam Mohd Saudi, M. (2018). Human Capital in Improving Creative Industrial Performance: A study in the Creative Industry of Batik Trusmi, Cirebon District, West Java. International Journal of Engineering & Technology, 7(4.34), 295. https://doi.org/10.14419/ijet.v7i4.34.25298
Szymańska, E., Dziedzic, E., & Rutkowski, A. M. (2017). Organisational innovations in health resort-based tourism. Business: Theory and Practice, 18, 54–63. https://doi.org/10.3846/btp.2017.006
Utami, R. M., & Lantu, D. C. (2014). Development Competitiveness Model for Small-Medium Enterprises among the Creative Industry in Bandung. Procedia - Social and Behavioral Sciences, 115(Iicies 2013), 305–323. https://doi.org/10.1016/j.sbspro.2014.02.438
Valentin, E. K. (2001). Swot Analysis from a Resource-Based View. Journal of Marketing Theory and Practice, 9(2), 54–69. https://doi.org/10.1080/10696679.2001.11501891
Vance, C. M. (2012). The re-source-based view of the firm. Journal of Management Inquiry, 21(1), 124. https://doi.org/10.1177/1056492611436225
Vlados, C. (2019). On a correlative and evolutionary SWOT analysis. Journal of Strategy and Management, 12(3), 347–363. https://doi.org/10.1108/JSMA-02-2019-0026
Widjajanti, K., Nuryakin, & Sugiyanto, E. K. (2020). The synergy between academic support, government regulation, business sector, and civil society to enhancing innovation ecosystem Indonesian SMEs. Journal of Educational and Social Research, 10(5). https://doi.org/10.36941/JESR-2020-0092
Widjajanti, K., & Widodo. (2016). Improving organizational innovation by human capital, knowledge sharing and organizational learning base. International Business Management, 10(9). https://doi.org/10.3923/ibm.2016.1599.1609
Wiid, J. A., Cant, M. C., & Holtzhausen, L. (2015). SWOT analysis in the small business sector of South Africa: Friend or foe? Corporate Ownership and Control, 13(1CONT4), 446–453. https://doi.org/10.22495/cocv13i1c4p3
Yüksel, İ. (2012). An Integrated Approach with Group Decision-Making for Strategy Selection in SWOT Analysis. International Journal of Academic Research in Business and Social Sciences, 2(11), 134–162.
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Affiliations
Kesi Widjajanti
1Department of Management, Faculty of Economics, Universitas Semarang, Semarang City , Indonesia
Eviatiwi Kusumaningtyas Sugiyanto
Department of Management, Faculty of Economics, Universitas Semarang, Semarang City , Indonesia
Dea Aulia Widyaevan
Department of Art, Universitas Telkom, Indonesia
Anisa Rachma Sari
Department of Biology, Universitas Semarang, Semarang City, Indonesia
Strategic Choice Development Using SWOT Analysis: Diversification Strategy of Batik Creative Industry in Blora, Indonesia
Vol 12 No 1 (2023): June 2023
Submitted: Nov 20, 2023
Published: Nov 20, 2023
Abstract
Diversification is a strategic choice to improve company competitiveness sustainably. This paper explores strategies and suggests a suitable diversification strategy for micro, small, and medium enterprises (MSME) on a theoretical concentration and resource-based view.. Blora batik creative industry in Central Java, Indonesia, is selected as a case study. We use descriptive analytic derived from quantitative SWOT framework by combining matrix from Internal Factor Analysis (IFAS) and External Factor Analysis (EFAS). We collect data from field surveys and study literature. Respondents are selected purposively based on a result from a focus group discussion (FGD). This paper finds that Blora batik has both positive IFAS and EFAS scores, 0.42 and 0,26, respectively. These indicate Blora Batik has a strong positional value in "quadrant I", which means this industry has suitable strength to exploit opportunities.. Diversification strategy options proposed in this research can help owners and managers of micro, small and medium enterprises to expand the diversity of their markets and products. This study can also be used as a consideration for the government in implementing policies to empower the Batik creative economy through the MSME diversification strategy