Implementation of Five Forces Analysis in Business Start Up: Case Study of Hery Farm
Marlina, Maria Assumpta Evi
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Strategy is necessary in managing a business. The implemented strategies vary from one business to another. The chosen strategies are suited to the business scale, character, and operation period. It is crucial for start-up business to apply the right strategies to increse its competitiveness level in the market, thus it can reach sustainable level, and then move to the next stage: develop, and even dominate the market. In order for the strategies to reach the goal, appropriate analyses are necessary. Few common analytical methods have been introduced by Michael E. Porter. One of them is five forces analysis, a business may get a good overview of where the business competitiveness level within a certain industry. Furthermore, this analysis is able to depict the business competitiveness level against its suppliers, customer, new entrants, and substitutes. The purpose of this study is to investigate the implementation of five forces analysis more comprehensively in start-up business which operates in chili farming, namely Hery Farm is located in Made District West Surabaya which is established in December 2012. The method used in this research is qualitative paradigm with case study approach. The result of this study shows that by implementing five forces analysis, a start-up business is able to detect their competitive advantage before enter the market.