Business Strategy Formulation in Creative Industry: Case Study of Supernova Sinema Pictures
DOI:
https://doi.org/10.61194/ijjm.v5i3.1259Keywords:
Business Strategy, Creative Industry, SWOT Analysis, Business Model Canvas, 7s McKinseyAbstract
The videography and cinematography sector in Padang, Indonesia's creative industry experienced a remarkable growth of 2,500% from 2016 to 2023. The influx of new competitors engaging in aggressive price competition necessitates strategic formulation to bolster competitiveness. As Supernova Sinema Pictures enters its mature phase, it is crucial to conduct a comprehensive analysis of internal and external factors, employing frameworks such as the Business Model Canvas and McKinsey 7s Framework derived from the SWOT Matrix findings. Data were collected and analyzed through qualitative descriptive analysis using non-probability purposive sampling techniques, including Focus Group Discussions, In-depth Interviews with 28 industry stakeholders and consumers, and Participant Observation spanning four years. The findings position the company in Quadrant 1, pursuing an SO (Strength-Opportunity) strategy. Supernova Sinema Pictures has opted for a Market Development Strategy aimed at niche markets, emphasizing service quality enhancement and customer satisfaction. This research serves as a valuable reference for similar enterprises aiming to thrive in a challenging business environment.
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