BUSINESS DEVELOPMENT STRATEGY TO DEVELOP AND SUSTAIN SMALL MEDIUM ENTERPRISE IN HEALTHCARE INDUSTRY (CASE STUDY: POSTUR CLINIC) FINAL PROJECT In partial fulfilment of the requirements for the master’s degree from Institut Teknologi Bandung By AMADEA NADIRA RAHADJA Student ID: 29322058 (Master of Business Administration Program) INSTITUT TEKNOLOGI BANDUNG JANUARY 2024 i ABSTRACT BUSINESS DEVELOPMENT STRATEGY TO DEVELOP AND SUSTAIN SMALL MEDIUM ENTERPRISE IN HEALTHCARE INDUSTRY (CASE STUDY: POSTUR CLINIC) By Amadea Nadira Rahadja Student ID: 29322058 (Master of Business Administration Program) Postur Clinic is a healthcare facility specializing in Physical Medicine and Rehabilitation (PM&R), the clinic experienced rapid growth yet faced inconsistent sales, indicating underlying management challenges. For a business to achieve sustainability it must have business strategy, adaptation to technology and innovation, and entrepreneurial skill and knowledge in which should be integrated in each organizational element. This research addresses the absence of a clear guideline for business strategy formulation as the root cause of Postur Clinic's business issue. The objective is to develop a comprehensive business strategy framework to sustain and develop this small to medium-sized enterprise. Utilizing primary and secondary data sources and mixed-method for data collection, this research appoints various strategic analysis frameworks. It delves into an extensive examination of Postur Clinic's internal and external conditions to create strategy formulation frameworks using SWOT-TOWS matrix, Marketing Mix 7Ps, STP strategy, and Ansoff Matrix. The analysis exhibits Postur Clinic's strengths in specialized scoliosis treatments and a strong supply chain, alongside challenges such as limited capacity, vacant organizational roles, and underutilized digital marketing. External factors like regulatory changes, technological advancements, and competitive landscape present opportunities and threats. Using the SWOT-TOWS matrix, internal strengths and weaknesses are aligned with external opportunities and threats. This leads to a proposed business strategy framework of market development strategy based on STP and a revamped Marketing Mix 7Ps strategy from the Ansoff Matrix. The outcome of this research is a one-year business strategy plan presented visually as a Gantt chart. This framework outlines actionable steps derived from the formulated strategy, aiming to rectify management issues and limitations, maximize strengths, and navigate industry challenges to ensure the sustained growth and development of Postur Clinic within the competitive healthcare landscape. Keywords: Business Strategy, Ansoff Matrix, Healthcare Industry, SWOT-TOWS Matrix iii ABSTRAK STRATEGI PENGEMBANGAN USAHA UNTUK MENGEMBANGKAN DAN MEMPERTAHANKAN USAHA KECIL MENENGAH DALAM INDUSTRI KESEHATAN (STUDI KASUS: POSTUR CLINIC) Oleh Amadea Nadira Rahadja 29322058 (Program Studi Magister Administrasi Bisnis) Postur Clinic merupakan fasilitas kesehatan yang berspesiliasi pada kedokteran fisik dan rehabilitasi (KFR), klinik memiliki pertumbuhan yang pesan, namun menghadapi penjualan yang inkonsisten, yang mendasari tantangan manajemen. Agar suatu bisnis dapat mencapai keberlanjutan, harus memiliki strategi bisnis, adaptasi pada teknologi dan inovasi dan kewirausahaan yang berintegrasi pada semua elemen. Penelitian memberikan pedoman dalam perumusan strategi bisnis yang merupakan akar permasalahan di Postur Clinic. Tujuannya ialah untuk mengembangkan kerangka strategi bisnis untuk mempertahankan dan mengembangkan usaha kecil dan menengah. Dengan memanfaatkan sumber data primer, sekunder serta metode pengumpulan data. Ampuran, penelitian ini akan memaparkan kerangka analisis yang strategis. Serta pemeriksaan terhadap kondisi internal dan eksternal untuk strategi formulasi melalui matriks SWOT-TOWS, Marketing Mix 7P, STP dan Matriks Ansoff. Analisis menunjukkan kekuatan dari Postur Clinic dalam perawatan scoliosis dann rantai pasokan yang kuat, serta tantangan seperti keterbatasan kapasitas, peran organisasi yang kosong dan kurang permanfaatan pemasaran digital. Faktor eksternal seperti perubahan peraturan, kemajuan teknologi dan persaingan pasar menghadirkan peluang dan ancaman. Dengan matriks SWOT-TOWS, kekuatan dan kelemahan internal akan diselaraskan dengan peluang dan ancaman eksternal. Hal ini mengarah pada usulan strategi bisnis strategi pengembangan pasar berdasarkan STP dan perubahan strategi pemasaran 7P dari Matriks Ansoff. Hasil dari penelitian ini adalah rencana strategi bisnis untuk satu tahun kedepan dalam bentuk Gantt chart. Kerangka kerja ini menguraikan langkah yang dapat dilakukan agar dapat memperbaiki masalah dan keterbatasan manajemen, memaksimalkan kekuatan, dan menavigasi tantangan industry, agar memastikan pertumbuhan dan perkembangan berkelanjutan dari Postur Clinic dalam layanan kesehatan yang kompetitif. Kata Kunci: Strategi Bisnis, Matriks Ansoff, Industri Kesehatan, Matriks SWOT- TOWS vi DECLARATION OF NON -PLAGIARISM Plagiarism is considered as the act of dishonesty and a breach of academic ethics in which strongly against the School’s policy and regulation. I declare that materials presented in this Final Project are my own work and do not involve plagiarism. Should I do plagiarism in this Final Project, hereby I am willing to accept any consequences determined by the School. Date: 20 December 2023 Name: Amadea Nadira Rahadja Student ID: 29322058 Plagiarism is: Plagiarism is presenting someone else’s work or ideas as your own, with or without their consent, by incorporating it into your work without full acknowledgement. All published and unpublished material, whether in manuscript, printed or electronic form, is covered under this definition. Plagiarism may be intentional or reckless, or unintentional. Under the regulations for examinations, intentional or reckless plagiarism is a disciplinary offence. (Oxford, 2019) v BUSINESS DEVELOPMENT STRATEGY TO DEVELOP AND SUSTAIN SMALL MEDIUM ENTERPRISE IN HEALTHCARE INDUSTRY (CASE STUDY: POSTUR CLINIC) By Amadea Nadira Rahadja Student ID: 29322058 Master of Business Administration Program Institut Teknologi Bandung Approved Date 20 December 2023 vii FINAL PROJECT GUIDANCE Unpublished masters’ final project is registered and available in the Library of Reproduction or publication of parts or whole of the final project must be under the consent of the Head of Graduate School, Bandung Institute of Technology. Rahadja, A. (2024): Business Development Strategy to Develop and Sustain Small Medium in Healthcare Industry (Case Study: Postur Clinic), Masters’ Final project, Institut Teknologi Bandung. Bandung Institut of Technology, and is open for public, provided that the author owns the copyright in accordance with the intellectual property rights that are applicable in the Library of Institut Teknologi Bandung. Bibliographical references are allowed to be use in a limited manner, however the citation and summarization can only be proceed upon the author’s permission and must include the scientific norm of stating this final project as the source. This final project has to be cited as: viii This final project is dedicated to my mother for her unwavering support, encouragement, love, and guidance. ix ACKNOWLEDGMENT I can do all things through Christ who strengthens me – Phil 4:13. I am thankful to Jesus Christ for His blessings has given me the strengths to write and complete this thesis. I would like to thank Dr. G.N. Sandhy Widyasthana, S.T., M.B.A. and Mr. Prawira Fajarindra Belgiawan, M.Eng., Ph.D. my esteemed thesis supervisors for their advice and guidance. I am also thankful to Prof. Dr. Ir. Ignatius Pulung Nurprasetio, M.SME as the Dean of SBM ITB and to Mr.