The Impact of Biotechnology Product Innovation and Corporate Strategy in Medium-Scale Seaweed Industry Companies on the Company Business Growth (Case Study: Ocean Fresh CV)

Abstract

A product innovation approach that can have a positive impact on both the environment and consumers is biotechnology. Seaweed, a material obtained from the sea, offers a lot of potential. Future prospects for several industries include the use of seaweed product innovation employing a biotechnology method. This research is based on business issues and how to maximize existing potential. This research aims to study the performance of the corporate strategy and the development of product innovation in a biotechnology-based company, namely Ocean Fresh CV. Data collection was carried out by means of semi-structured interviews with the directors of the company and analyzed by evaluating internal factors and discussing using the Balanced Scorecard approach. This study shows that the Company’s Strategy and Product Innovation carried out at Ocean Fresh CV have positively impacted business growth so far. The results of this analysis will be made in the form of a Matrix Scenario Planning to be able to provide business solutions that can be implemented by companies for future business growth.