Strategy for sustainability of the fishery industry during the COVID-19 pandemic in indonesia

Zainul Wasik, Tanti Handriana

Research output: Contribution to journalArticlepeer-review

Abstract

During the 2020 COVID-19 pandemic, Indonesia’s fishery product exports have increased, and Indonesia rose second grade to eighth position as the world’s main exporter of fishery products in 2020. Based on data released by ITC Trademap, the export value of Indonesian fishery products in 2020 reached USD 5.2 billion or 5.7% positive growth compared to 2019. In fact, during this COVID-19 pandemic, most of the world’s main exporters of fishery products experienced a significant decline compared to 2019, such as China, down 7.8%, Norway down 7.5%, Vietnam down 2.1%, India, down 15.1%; Thailand down 2.2% and Ecuador down 1.5%. Analyzing the factors that become strengths, weaknesses, opportunities and threats in the fishing industry company and determine new strategies that must be carried out to overcome the sustainability of the fishing industry during the COVID-19 pandemic. Qualitative descriptive research methods, where the researcher is the key instrument, the data collection technique is done by triangulation using IFAS, EFAS and SWOT analysis, primary data and results from observations, documentation studies and interviews with research informants, namely managers, general managers and business leaders of the Surimi KML Group company. The results of this study indicate that the fishing industry players need to position in quadrant I according to the SWOT analysis, where these findings indicate that the company’s strategy uses and utilizes strengths to take opportunities (Opportunities). Based on this SWOT analysis, the company can also use a Progressive strategy in running its business during the COVID-19 pandemic. This strategy allows the fishing industry to continue expanding, increasing growth, and achieving maximum progress during the COVID-19 pandemic. This research shows the success of the strategy determined by the accuracy and precision of the strategy used by the fishing industry sector company against changes in environmental conditions and the level of business competition caused by the COVID-19 pandemic. Determination of the strategy can be done by SWOT analysis of companies in Indonesia.

Original languageEnglish
Article number2218723
JournalCogent Social Sciences
Volume9
Issue number1
DOIs
Publication statusPublished - 2023

Keywords

  • MSME sustainability
  • SWOT analysis
  • Strategic management

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