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Combine Business Model Canvas, Blue Ocean Strategy, and Analythical Hierarchy Process to Develop Business Model of Malkita Mall Jakarta
Combine Business Model Canvas, Blue Ocean Strategy, and Analythical Hierarchy Process to Develop Business Model of Malkita Mall Jakarta

PPM School of Management
maria_muliana[at]yahoo.com
andiilhamsaid[at]gmail.com


Abstract

Background Malkita Mall (disguised name) is a place for shopping, recreation, entertainment and sports located in North Jakarta. It occupies on area of 7 hectares, consisting of an 8-story building with a gross area of 270 m². Starting operations in October 2004, Malkita Mall has 827 units to lease for entrepreneurs. The establishment of Tokopedia, Lazada, Bukalapak, and e-commerce business (virtual marketplace) slowly but surely erodes mall visitors who come with the aim of shopping. Because of that, in recent years there has been a shift in function of the mall from shopping places to people gathering place looking for entertainment, culinary, and exercising. This shift occurred due to changes in lifestyle and visitor needs. If the mall does not follow this change, visitors will switch to other malls. The decline in the number of visitors will reduce tenant sales revenue which will cause a decrease in tenant satisfaction. The level of tenant satisfaction is also triggered by the speed of the manager in responding to tenants complaints and the existence of events organized by mall administrator. Tenant dissatisfaction will impact on the tenants business sustainability. Turn over of tenants is a factor affecting the mall occupancy rate. In May 2019 Mal Malkita, occupancy was 94% leaving 6,265 m² of vacant space. This is not a favour rate in mall-s market since it less than the average rate of industry. The level of occupancy will ultimately affect companys margins. In 2018 the margin of Mal Malkita has decreased for the first time in 5 years. This was due to a significant decrease in revenue that was not accompanied by a decrease in operating expenses. This situation forces Mal Malkita to review its business model and then come up with the new model. Methodology The main purpose of this paper is to design a right business model of Malkita mall 2020-2023. To achieve this main objective, several objectives will be set, namely identification of the current business model through internal analysis, opportunities and threats to the company through external analysis, ideal business models, company strengths and weaknesses through gap analysis between the current business model and the ideal business model, three prototypes of new business models through the development of new business models with the blue ocean strategy. After the main objective is found then the roadmap of implementation plan will be prepared. The research method was carried out in a qualitative approach. To conduct an internal analysis, we interviewed Director of the Headquarter office and GM Mal Malkita and conducted a study of documents regarding the financial statements and the results of the visitor survey. The results of internal analysis were used to determined Current Canvas Business Model. To do external analysis, we study documents from research journals on public purchasing power, e-commerce business, mall business shifts, and online news. Whereas to conduct an in

Keywords: mall, business model, Business Model Canvas, Blue Ocean Strategy, Analytic Hierarchy Process

Topic: Strategic Management

Link: https://ifory.id/abstract/ZTyuYfnM8kgp

Conference: The 3rd Asia Pacific Management Research Conference (APMRC 2019)

Plain Format | Corresponding Author (Andi Ilham Said)

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