The Business Model Analysis of Wika Lab Using Business Canvas Approach

Abstract

WIKA Lab development prospect is potentially high, since their current achievement is reached with conventional management system and limited human resources and utilities. Therefore, there were several steps of the job which should be done by WIKA Lab’s partner. This limitation was seen not as the obstacle hampering them in performing high quality of service. This research is used to unveil the business model of WIKA Lab and determining the strategy of improving the business to the better level. This research used Business Model Canvas, since it can analyze nine elements showing the basic foundation of logic how company can make money. The identification result of this Model showed that WIKA Lab classified their clients differently as WIKA’s internal segment, WIKA’s subsidiaries, and WIKA’s external clients. The internal segment of WIKA contributes 95% income to the company. The subsidiaries provide 5% and the rest 0.6% is contributed from the external segment of WIKA.The model of business improvement of WIKA Lab bureau has successfully been formulated based on the recovery of the internal and external segments towards each component from the current business model. Concerned customer’s portfolio, the existent of the substitute product, less supportive system, less number of external factor are resulted from the less number of human resources in marketing or introducing the services of laboratory test in WIKA.Based on the recovery of the business model, a strategic recommendation can be constituted to improve the working performance, such as focus of exploring business potential from 95% clients, business expansion by diversification outside Jakarta by opening new laboratory office branch in WIKA’s subsidiaries in Indonesia.

Keywords: Construction Service Industry, Business Model Canvas, Business Development Strategy, WIKA Lab, SWOT