Strategi Pengembangan Bisnis di PT Wijaya Karya Beton Tbk (Business Development Strategy for PT Wijaya Karya Beton Tbk)

Abstract

WIKA Beton mengalami kinerja keuangan fluktuatif selama 2020–2024, dengan lonjakan pada 2022, penurunan tajam pada 2023, dan pemulihan belum optimal pada 2024 dipengaruhi CAGR negatif dan ketergantungan pada siklus proyek, penurunan pendapatan 2024 disebabkan kombinasi faktor internal (penyesuaian operasional quarry, siklus kas panjang akibat piutang) dan eksternal (berkurangnya kontrak publik, volatilitas makroekonomi). Kondisi ini menuntut penguatan struktur pendapatan melalui strategi bisnis terarah dan pengembangan sumber recurring income yang selaras dengan kompetensi inti untuk meningkatkan stabilitas dan ketahanan keuangan. Di tengah volatilitas industri, peluang strategis muncul pada bisnis pemeliharaan prasarana perkeretaapian seiring percepatan RIPNas 2030 dan keterbukaan regulasi bagi pihak ketiga, namun realisasi peluang tersebut memerlukan kesiapan kapabilitas internal, tata kelola, serta pemenuhan standar keselamatan dan efisiensi. Penelitian ini bertujuan menganalisis faktor eksternal industri pemeliharaan prasarana perkeretaapian di Indonesia serta menilai faktor internal dan tingkat kesiapan WIKA Beton, merumuskan alternatif strategi terukur untuk memasuki bisnis tersebut, dan merekomendasikan prioritas strategi yang paling layak. Penelitian menggunakan pendekatan campuran kualitatif dan kuantitatif, metode analisis meliputi PESTEL, Porter’s Five Forces, dan RBV-VRIO untuk menilai kondisi yang ada, sementara kombinasi SWOT dan Matriks IE memberikan panduan dalam perumusan strategi. Selanjutnya, QSPM digunakan untuk mengevaluasi kelayakan setiap alternatif strategi secara kuantitatif. Hasil penelitian menunjukkan bahwa fondasi internal WIKA Beton cukup memadai untuk ditingkatkan, sementara dinamika eksternal sangat mendukung; arah korporat yang dianjurkan adalah pertumbuhan pada sel IV (grow and build). Analisis QSPM menempatkan pengamanan kontrak KPBU multi-tahun sebagai prioritas utama, diikuti diferensiasi teknologi berbasis predictive maintenance dan digital twin, efisiensi biaya melalui multi-sourcing, serta pengembangan kapabilitas SDM tersertifikasi. Strategi pendukung meliputi pembentukan compliance center digital, kemitraan dengan OEM untuk lifecycle support, penguatan hub regional, dan reposisi portofolio menuju availability contract serta green maintenance. Dengan demikian, penelitian ini memberikan arah strategis bagi PT Wijaya Karya Beton Tbk untuk memasuki bisnis pemeliharaan prasarana perkeretaapian. Implementasi disarankan melalui pembentukan Strategic Business Unit (SBU) Rail Maintenance yang mengorkestrasi lintas divisi agar eksekusi strategi lebih terfokus, terukur, dan konsisten. Langkah ini diharapkan memperkuat posisi perusahaan dalam ekosistem perkeretaapian nasional, meningkatkan kepatuhan regulasi, serta menciptakan keunggulan kompetitif yang berkelanjutan.[A

WIKA Beton experienced fluctuating financial performance during 2020–2024, with a surge in 2022, a sharp decline in 2023, and suboptimal recovery in 2024 influenced by negative CAGR and dependence on project cycles. The decline in revenue in 2024 was caused by a combination of internal factors (quarry operational adjustments, long cash cycles due to accounts receivable) and external factors (decrease in public contracts, macroeconomic volatility). These conditions require strengthening the revenue structure through targeted business strategies and developing recurring income sources aligned with core competencies to enhance financial stability and resilience. Amid industry volatility, strategic opportunities are emerging in the railway infrastructure maintenance business in line with the acceleration of the 2030 National Infrastructure Development Plan (RIPNas) and the opening of regulations to third parties. However, realizing these opportunities requires internal capability readiness, governance, and compliance with safety and efficiency standards. This study aims to analyze external factors in the railway infrastructure maintenance industry in Indonesia and assess internal factors and the level of readiness of WIKA Beton, formulate measurable alternative strategies for entering this business, and recommend the most feasible strategic priorities. The research uses a mixed qualitative and quantitative approach, with analysis methods including PESTEL, Porter's Five Forces, and RBV-VRIO to assess existing conditions, while a combination of SWOT and IE Matrix provides guidance in strategy formulation. Furthermore, QSPM is used to quantitatively evaluate the feasibility of each strategic alternative. The results of the study show that WIKA Beton's internal foundations are adequate for improvement, while external dynamics are very supportive; the recommended corporate direction is growth in cell IV (grow and build). The QSPM analysis places securing multi-year PPP contracts as the top priority, followed by technology differentiation based on predictive maintenance and digital twins, cost efficiency through multi-sourcing, and the development of certified human resource capabilities. Supporting strategies include the establishment of a digital compliance center, partnerships with OEMs for lifecycle support, strengthening regional hubs, and repositioning the portfolio towards availability contracts and green maintenance. Thus, this research provides a strategic direction for PT Wijaya Karya Beton Tbk to enter the railway infrastructure maintenance business. Implementation is recommended through the formation of a Rail Maintenance Strategic Business Unit (SBU) that coordinates across divisions so that strategy execution is more focused, measurable, and consistent. This step is expected to strengthen the company's position in the national railway ecosystem, improve regulatory compliance, and create sustainable competitive advantages.