Quantitative Economics and Management Studies
Vol. 5 No. 5 (2024)

Analysis of Business Development Strategies in Improving the Economic Welfare of Shrimp Pond Farmers at Gebang District of North Sumatera

Aprilla, Vanya (Unknown)
Harahap, Muhammad Ikhsan (Unknown)
Dharma, Budi (Unknown)



Article Info

Publish Date
04 Aug 2024

Abstract

The aim of this research is to examine the shrimp farming industry in Gebang District by analyzing internal and external factors affecting the business, proposing strategies for development, and evaluating the economic welfare of shrimp farmers. Employing a descriptive research methodology with a quantitative approach, data were collected through interviews and questionnaires. Informants were selected using purposive sampling, a non-probability technique, with five informants chosen based on specific criteria. Data analysis utilized the SWOT technique. Findings reveal that the IFAS matrix score is 3.77 and the EFAS matrix score is 4.13. These scores indicate that the shrimp farming industry in Gebang District is best suited to an SO (Growth-Oriented) strategy. This involves optimizing the use of extensive and strategic land to maximize profits, developing and training human resources to enhance farmers' knowledge, and improving facilities and infrastructure to boost production quality and, consequently, selling prices.

Copyrights © 2024






Journal Info

Abbrev

qems

Publisher

Subject

Decision Sciences, Operations Research & Management Economics, Econometrics & Finance Mathematics

Description

Journal of Quantitative Economics and Management Studies (QEMS) is an international peer-reviewed open-access journal dedicated to interchange for the results of high-quality research in all aspects of economics, management, business, finance, marketing, accounting. The journal publishes ...