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Survival Strategy of Family Companies in the Cake and Bakery Industry in Semarang City
Abstract
This study aims to reveal the strategy of family companies in the cake & bakery industry so that they can survive by identifying key strategic factors that determine the survival ability of cake & bakery industry business people. The next stage is to describe the phenomena, data and facts in order to develop a strategic model that explains the relationship between the factors that play a role in business management, competitive ability and realize the growth and development of the cake & bakery industry business from these business actors. This study uses a qualitative approach. The scope of research on cake & bakery industry players in the city of Semarang and its surroundings. There are 27 research partners / informants in the study consisting of owners and management teams of cake & bakery industry players, informants from industrial suppliers and their minded customers. Research data collection was carried out by observation, in-depth interview techniques, data review of available documents, validation by triangulation, compiling interview transcripts, presenting interview extracts, formulating categories, compiling propositions and presenting mini theoretical models based on research findings. The results show that the survival strategy of cake & bakery business people can only be built with the vision and mission that is internalized and realized in business operations, on business performance. Business performance in this industry is shown by growth and development: Profit margin, sales turnover, outlets, customers, product variants, and bad stock are getting lower. Optimal business performance can only be achieved with competitive advantage on the basis of excellence factors which include aspects: Taste, Price, Product Variants, Location of outlets, Entrepreneurship Orientation and Innovation on: product, marketing, process and organizational. Besides that, the role of suppliers and customers is also very strategic for the survival of this industry.
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DOI: https://doi.org/10.33258/birci.v5i3.6289
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