Vol. 5, No. 10, October 2024
E-ISSN: 2723 - 6692
P-ISSN:2723- 6595
http://jiss.publikasiindonesia.id/
Journal of Indonesian Social Sciences, Vol. 5, No. 10, October 2024 2681
Business Strategy Analysis for Business Development on Boat
Rental at PT Prima Sentosa Abadi Services in Samarinda
Umar Hi. Salim, Ikayanti Puspaningkarti, Welly, Marthinus Pasangka
Sekolah Tinggi Ilmu Ekonomi Nasional Samarinda, Samarinda, Indonesia
Email: Umar@gmail.com
Correspondence: [email protected]*
KEYWORDS
ABSTRACT
Business Strategy; Business
Development; SWOT Analysis
This research aims to identify and analyze the internal and external
factors faced in developing the ship rental business at PT Pelayaran
Prima Sentosa Abadi Samarinda, as well as analyze and determine
appropriate strategies for developing the ship rental business at PT
Pelayaran Prima Sentosa Abadi in Samarinda. This research uses
quantitative and qualitative methods with techniques for collecting
data from primary and secondary data. Primary data was collected
by interviewing informants regarding the answers to
questionnaires regarding boat rental at PT Pelayaran Prima
Sentosa Abadi in Samarinda, and secondary data was
obtained from indirect data from informants. Internal factors in
developing the ship rental business at PT Pelayaran Prima Sentosa
Abadi Samarinda include strengths and weaknesses. The strength
factor has a total value of 2.32, as obtained from the answers to the
questionnaire. Meanwhile, the weakness factor was 0.96, which
means the total internal factor value was 3.28. External factors
faced in developing the ship rental business at PT Pelayaran Prima
Sentosa Abadi Samarinda are opportunity and threat factors where
the opportunity factor has a total value of 1.57 and the threat factor
from the results of the questionnaire answers with a total value of
1.38, which means the total value of external factors is 2.95.
Attribution-ShareAlike 4.0 International (CC BY-SA 4.0)
Introduction
In terms of understanding the shipping service industry, there are several types: Type of
Service, Shipping Range, and Type of Goods (Aminzadegan et al., 2022; Castelein et al., 2020; Zhu et
al., 2023). Based on the type of service, it is divided into Fixed Voyage, Non-Permanent Voyage, and
Feeder Voyage. Based on the range, it is divided into Local Shipping, Archipelago Shipping, and
Ocean Shipping. Based on the type of goods, it is divided into Container Shipping, Liquid Bulk
Shipping, Solid Bulk Shipping, Freighter Shipping, and Passenger Shipping. Services that businesses
in the shipping sector can do in addition to the ship agency business are loading and unloading
business, ship repair business, forwarding business, transportation services, container depots,
transhipment, rental of loading and unloading equipment, shipping document management services
(Amir, 2012; de Bittencourt et al., 2021; Jarašūnienė et al., 2022).
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The opportunities for companies engaged in local river-to-sea transportation services in East
Kalimantan and North Kalimantan are quite large and promising. Therefore, PT Pelayaran Prima
Sentosa Abadi develops business strategies and takes opportunities for its business as one of the
shipping companies in Samarinda, which was established in 2013 and has demonstrated its
reputation as an effective, efficient, and responsible local river-to-sea transportation company in the
transportation of coal mining products and diesel oil from the interior of the Mahakam River
promptly to the sea of Muara Berau for transfer to ships that will continue to the destination area or
destination country.
Based on the phenomena described above, the development of the type of business field of
ship leasing (Tug Boat and Barge) and Tanker ships at PT Pelayaran Prima Sentosa Abadi is the
focus of separate research for the author because it is considered that the type of business at PT
Pelayaran Prima Sentosa Abadi can still be developed more. The selection of regional lines for
the transportation of mining products is still small. In this case, researchers see that there is an
excellent opportunity to expand the area of transportation of mining products, not only in the
Samarinda area but can still be developed for other transportation routes. For this reason, research
is needed on a better and long-term strategy for the direction and purpose of PT. Pelayaran Prima
Sentosa Prima Abadi for the future.
This study aims to identify and analyze the internal and external factors faced in developing
the ship leasing business at PT Pelayaran Prima Sentosa Abadi in Samarinda. It also aims to
determine the right strategy for facing challenges and taking advantage of existing opportunities to
encourage the growth and sustainability of the company's ship leasing business.
Materials and Methods
Figure 1 Schematic Framework
Description =Shows Relationship
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Research Methodology
This study employs quantitative and qualitative methods to analyze the internal and external
factors influencing the development of the boat rental business at PT Pelayaran Prima Sentosa
Abadi. The primary method used is SWOT analysis, which includes the Internal Factor Evaluation
(IFE) and External Factor Evaluation (EFE) matrices to identify the company’s strengths,
weaknesses, opportunities, and threats (Lubis, 2015).
Sampling Technique
The research sample comprises managers, staff, and relevant stakeholders at PT Pelayaran
Prima Sentosa Abadi, selected using purposive sampling. This technique was chosen because it is
suitable for obtaining specific information from individuals with in-depth knowledge of the
company’s business conditions and strategies. The sample size was determined based on these
individuals' relevance and direct involvement in business decision-making (Husein, 2013).
Analysis Tool
This analysis used data collection tools: observation, interview and documentation guidelines.
With the following stages:
a. Grouping the data that has been obtained for processing.
b. Conduct a SWOT analysis
c. Entering into the SWOT matrix
d. Analyzing strategies from the SWOT matrix
e. I recommend the strategy that the manager has implemented.
SWOT analysis uses the Internal Factor Evaluation (IFE) matrix and the External Factor
Evaluation (EFE) matrix, where IFE includes strengths and weaknesses and EFE includes
opportunities and threats.
1. IFAS and EFAS Analysis
IFAS (Internal Factors Analysis Strategic) is a strategic analysis of the organization's internal
factors. This analysis is necessary to portray the organization's strengths and weaknesses.
Table 1. IFAS matrix
Internal strategic factors
Weight
Rating
Score
Strength:
-strength 1
-power 2
-strength 3
etc...
Weakness:
-weakness 1
-weakness 2
-Weakness 3
etc...
Total
Source: Purhantara, p. (2010, p. 112)
EFAS (External Factors Analysis Strategic) is a form of strategic analysis of the organization's
external factors. This analysis needs to be done to get a portrait of the organization's opportunities
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and threats. Thus, this external portrait is needed to determine the organization's level of readiness
to face the external organization's strengths and pressures, especially the pressure from
competitors.
Table 2. EFAS Matricks
External strategic factors
Weight
Rating
Score
Opportunities:
-Opportunity 1
-Opportunity 2
-Opportunity 3
etc...
Threats:
- Threat 1
- Threat 2
- Threat 3
etc...
Total
Source: Purhantara, p. (2010, p. 112)
SWOT analysis was chosen as the primary method in this study because it allows for a
comprehensive evaluation of the internal and external factors affecting the company. This method is
effective in business contexts like PT Pelayaran Prima Sentosa Abadi, which operates in an industry
with high competition dynamics and challenges. SWOT analysis provides a structure for identifying
exploitable opportunities and anticipating potential threats while evaluating the company’s internal
strengths and weaknesses. By utilizing the IFE and EFE matrices, this study can formulate a more
targeted business development strategy aligned with the specific market conditions in East and
North Kalimantan (Ben-Abdallah et al., 2022; Dewi et al., 2021; Satrianto et al., 2023).
Results and Discussions
Company History
PT Pelayaran Prima Sentosa Abadi, established on June 23, 2013, in Samarinda, is a shipping
company that provides sea transportation for coal mining companies in Indonesia. Over time, the
fleet and scope of services grew and developed into a primary transportation service provider that
consistently meets client needs. With complete dedication, we continue to hone our expertise and
business processes to become trusted for the coal mining industry in Indonesia so that it can be
sustainable; competitive advantage must be sustainable, not just temporary but continuous.
Analysis
1. Development Strategy of PT Pelayaran Prima Sentosa Abadi
The strategy PT Pelayaran Prima Sentosa Abadi used to maintain its business can be
illustrated based on its business conditions, including its strengths, weaknesses, opportunities,
and threats.
2. Implementation of SWOT Analysis at PT. Pelayaran Prima Sentosa Abadi
Using SWOT analysis, researchers will make an Internal Factor Evaluation Matrix (IFE
matrix) and External Factor Evaluation Matrix (EFE Matrix) in tabular form. Before researchers
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create a table format to compile a representative SWOT formula, researchers will place the
stages according to Hunger and Wheelen (2011), which are as follows:
a. Compile and determine the external and internal strategic factors of a company.
b. Arranging and calculating the weight, rating, and score values for the external and internal
tables were made using the following scale technique:
a) Value Weight
Weight each of these factors on a scale ranging from 1.0 (most important) to 0.0 (least
significant), based on their influence on the company's strategic position. (all weights
should not exceed a total score of 1.00)
0,20 = Very Important
0.10 - 0.15 = Important
0.01 - 0.05 = Not Important
b) Rating Value
5= Excellent
4= Good
3= Neutral
2= Not Good
1= Not very good
c) Score Value
The value score will be calculated using the following formula, namely (SN=BN.RN).
Description:
SN= Value Score
BN= Weighted Value
RN= Rating Value.
Table 3. Internal Factor Evaluation Matrix (IFE Matrix)
PT. Pelayaran Prima Sentosa Abadi
Internal Strategy Factors
Weight
Rating
Score
Power
a. Organized work system
b. Affordable price
c. Human resources staff who
are competent in their fields
d. . ds
e. Eligibility of the leased vessel
f. Ship maintenance yard
0,10
0,10
0,10
0,10
0,10
4,6
4,4
4,8
4,6
4,8
0,46
0,44
0,48
0,46
0,48
Total
0,50
2,32
Weaknesses
a. Limited business expansion
b. A digital marketing strategy
that has not been maximized
c. Transaction evidence of boat
rental is not transparent
d. No company branding yet
e. The equipment used is semi-
traditional
0,10
0,10
0,10
0,10
0,10
2
2
1,8
2
1,8
0,2
0,2
0,18
0,2
0,18
Total
0,50
0,96
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Total Score
1,00
3,28
Source: Data processed (2023)
From the analysis results in Table 3 of the IFE Matrix, the strength and weakness factors have a
total score of 3.28. Because the total score is above 2.5, this indicates a strong internal position.
Table 4. External Factor Evaluation Matrix (EFE- Matrix)
PT. Pelayaran Prima Sentosa Abadi
External Strategy Factors
Weight
Rating
Score
Opportunities
a. The higher the demand for boat
charters
b. Extent of market share
c. Business capital obtained
d. This business can be developed
only in certain locations/regions
0,10
0,15
0,10
0,10
4,6
3,4
3,0
3,0
0,46
0,51
0,3
0,3
Total
0,45
1,57
Threat
a. Emergence of new competitors
b. Absence of government
assistance
c. The conditions faced today.
d. Technological advancement
0,15
0,15
0,15
0,10
2,2
2,4
2,6
3,0
0,33
0,36
0,39
0,3
Total
0,55
1,38
Total Score
1,00
2,95
Source: Data processed (2023)
The results of the analysis in Table 4 on the EFE Matrix show that the opportunity and threat
factors have a total score of 2.95. Because the total score is quite high, the company responds to
existing opportunities and tries to avoid existing threats.
Based on Table 3 regarding the IFE Matrix and Table 4 regarding the EFE Matrix, the IFE
Matrix (Internal Factor Evaluation Matrix) value is more significant, which is 3.28 compared to the
EFE Matrix (External Factor Evaluation Matrix) value of 2.95. We can conclude that the internal
factors of PT Pelayaran Prima Sentosa Abadi are more dominant than external factors. It can be
ascertained that PT Pelayaran Prima Sentosa Abadi can develop its business by utilizing strengths
such as an organized work system, affordable prices, human resources who are competent in their
fields, the feasibility of leased ships, and good ship maintenance places.
From the results of the IFE and EFE weighting, the results are as shown in the following table:
Table 5. IFE and EFE Matrix
Total Strength Score = 2.32
Total weakness score = 0.96
Total Opportunity Score = 1.57
Total Threat Score = 1.38
Total S + O = 3.89
Total W + T = 2.34
Source: Data processed (2023)
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Figure 2 IFAS and EFAS Diagram
The following is a table that researchers will use to analyze and determine strategic decisions
using the SWOT matrix approach (Sukiman, 2012).
Table 6. SWOT Matrix Analysis
INTERNAL
EXTERNAL
STRENGTH (S)
a. Leasing a ship with a
structured system
b. Affordable price
c. Human resources staff
who are competent in
their fields
d. Eligibility of the leased
vessel
e. Ship maintenance yard.
WEAKNESSES (W)
a. Limitations on business
expansion.
b. Digital marketing strategy
that has not been
maximized
c. Transaction evidence of
boat rental is not
transparent
d. No company branding yet.
e. Equipment used is semi-
traditional
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OPPORTUNITIES (O)
a. The higher the
demand for boat
charters
b. Extent of market
share
c. Business capital
obtained
d. This business can
be developed only
In specific
location/region.
SO strategy
a. Maximize a sound work
system to attract
prospective boat renters.
b. Provide service prices
that do not change
c. Always provide
evaluations of employees
so that they can expand
market share and
increase capital.
d. Always have a ship ready
for charter
e. Paying attention to the
fleet of ships to increase
profits
WO Strategy
a. Prepare other supports to
maximize the demand for
boat rentals
b. Enrol in a digital marketing
course to capture market
share
c. Preparedness of reporting
documents to maximize
demand, expand markets,
and raise capital.
d. Developing rental services
e. Using existing equipment to
increase profits
THREATS (T)
a. Emergence of new
competitors
b. Absence of
government
assistance
c. The conditions
faced today.
d. Technological
advancement
ST Strategy
a. Always be professional
when carrying out tasks
b. Keep rental prices
affordable for users
c. Organize job desks
according to employees'
capabilities that
counteract messages and
can create stability.
d. Improve service
capabilities to monitor
conditions
e. Improving the place of
maintenance or berthing
of ships by utilizing
technology
WT Strategy
a. Capitalize on limitations by
avoiding competitors
b. Exploring marketing
strategies with training
conducted by Giving Trust
and the government
c. Preparing reports by
practising using technology
d. Continue to use existing
equipment while taking
running conditions into
account
e. With the advancement of
technology, it is expected to
add equipment
Source: Data processed (2023)
Discussion
1. Internal Factors
The internal factors faced in developing a ship leasing business at PT Pelayaran Prima
Sentosa Abadi in Samarinda are strengths and weaknesses. The strength factor with the number of
values obtained from the results of the question is 2.32, while the weakness factor with the number
of values obtained from the results of the question is 0.96, which means that it shows a total internal
factor score of 3.28. Based on the analysis of internal factors, factors that make strengths for the
business development of PT. Pelayaran Prima Sentosa Abadi, namely; (Solihin, 2012)
1) The work system carried out by PT Pelayaran Prima Sentosa Abadi has been organized; this
explains that before starting social media management, the owner will first discuss with the
business owner what activities will be carried out that month. Then, the owner will organize a
work calendar, including posting time, graphic design deadlines, and Instagram Reels content,
so the posting schedule is on time.
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2) Affordable price
The price offered by PT Pelayaran Prima Sentosa Abadi is quite affordable because it includes
Instagram content such as photos, graphic designs, and video reels. In addition, both owners
have accounts to promote food, where both owners are also included as KOLs. Here, both
owners provide free endorsements to clients who use the services of PT Pelayaran Prima
Sentosa Abadi.
3) Human resources who are competent in their fields
Each team member recruited by PT Pelayaran Prima Sentosa Abadi has competent abilities in
their fields, and the owner divides his duties according to the job desk of each team member.
The owner will not give tasks not part of the team member's job desk. If one team member
cannot carry out his duties, the job will be taken over by another team member with the same
job desk.
4) Eligibility of the leased vessel
Assets like ships have drawbacks such as depreciation, especially as ships age. For consumers,
shipping age is one of the requirements that must be met in terms of shipping services. Ships
that carry coal cargo to be brought to several PLTUs must be roadworthy to maintain the
security of cargo supply. In addition, the relatively old age of the ship can reduce performance
in the length of cargo carried to several places.
5) Ship maintenance yard
The shipyard is important because it can assess the capabilities of the ship that will carry out
its activities.
The internal factors that are weaknesses for the business development of PT Pelayaran
Prima Sentosa Abadi are:
1) Limited business expansion: The limitation of business expansion is one of the reasons why
the business is not well developed.
2) Digital marketing strategy that has not been maximized: The company has not been able to
implement this strategy because the marketing is still manual.
3) Transaction evidence of boat rental is not transparent: The company still uses the old pattern,
so the transactions carried out are not transparent.
4) No company branding yet.
5) The equipment used is semi-traditional
2. External Factors
Opportunities and threats are External factors in developing a ship leasing business at PT
Pelayaran Prima Sentosa Abadi in Samarinda. The opportunity factor, with the number of values
obtained from the results of the question, amounted to 1.57, while the threat factor, with the
number of values obtained from the results of the question, amounted to 1.38, which shows a total
score of external factors of 2.95.
Based on the analysis of external factors, the factors that make opportunities for business
development of PT Pelayaran Prima Sentosa Abadi are;
1) The higher the demand for boat rentals
2) Extent of market share
3) Business capital obtained
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4) This business can be developed only in certain locations/regions
Meanwhile, external factors that pose a threat to the business development of PT Pelayaran
Prima Sentosa Abadi are:
1) Emergence of new competitors
2) Absence of government assistance
3) The conditions faced today.
4) Technological advancement
So based on the SWOT analysis score value, PT Pelayaran Prima Sentosa Abadi is a good
company, because the internal factors of the company's Strengths position have a score that is
greater than the Weaknesses (weaknesses) and on external factors the Opportunities score is also
greater than the Threats score.
Conclusion
Based on the results of research and discussion conducted at PT Pelayaran Prima Sentosa
Abadi, it can be concluded that strategic issues in the external environment of the shipping industry
include significant opportunities and threats. The company's internal factors include strengths and
weaknesses, where strengths get a total score of 2.32, while weaknesses have a total score of
0.96, so the total score of internal factors is 3.28. On the other hand, the external factors faced
include opportunities and threats, where opportunities have a total score of 1.57 and threats 1.38,
resulting in a total external factor score of 2.95. The development strategy for the ship leasing
business in this company should combine these internal and external factors through SWOT matrix
analysis to create an appropriate development strategy for PT Pelayaran Prima Sentosa Abadi in
Samarinda.
Based on the results of the discussion and conclusions presented, the author suggests that
further research can focus on business model planning in logistics, especially considering the
development of companies that do not only depend on renting tugboats. In addition, the company is
advised to improve promotions and services so that the brand image is more widely recognized.
Expanding the network is also important to boost the company's productivity. In addition,
improving the marketing team's performance should be done so that the company does not need to
use the services of a broker. Finally, regarding employee recruitment, it is advisable to conduct a
selection based on the position and competencies needed to optimize company performance.
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