Strategy Formulation for a Public Appraisal Service Office (KJPP) Using TOWS Matrix Analysis

Appraisal practice in Indonesia is a growing field that plays an essential role in various sectors.The valuation profession has developed rapidly in recent years as Indonesia's economy has expanded, leading to increased demand for skilled appraisers to support investment, lending, property development, and government projects.KJPP Irfan dan Rekan was established in 2013 and currently has 2 branch offices.This firm provides services such as fixed asset valuation, feasibility study, and project monitoring.The objective of this research is to propose a new company strategy formulation to keep competitive and sustain in this industry and to optimize profit from existing customers and get new customers.Qualitative research and interviews were utilized External analysis uses PESTEL analysis and Porter's 5 forces.The internal analysis is of VRIO and the existing business model canvas.SWOT analysis is used to assess internal factors and external factors.Meanwhile, the TOWS Matrix analysis is a tool for developing implementation plans for the future.Together with a new business model canvas to form a new strategy formulation for the firm.Based on the interview and analysis, there are several unique findings for the research.Government regulation is closely affecting appraisal practice.The firm is losing many opportunities because of a lack of a marketing team and account manager.Other new entrants start low-price wars that make the environment not suitable.As a result, the new strategy consists of 5 implementation plans in the span of 3 years.