Analysis of Strategic Business Unit Portfolio by Using Boston Consulting Group (BCG) Matrix to Determine Capital Allocation Strategy at PT Astra International Tbk in 2021-2024 Period
Keywords:
Capital Allocation; Market Growth Rate; Boston Consulting Group (BCG) Matrix; PT Astra International Tbk; Relative Market ShareAbstract
Slowing automotive market growth amid Indonesia's post-pandemic economic recovery highlighted the need for strategic business evaluation. This study aimed to analyze the strategic position of the four-wheel automotive business unit of PT Astra International Tbk using the Boston Consulting Group (BCG) Matrix and to determine an appropriate capital allocation strategy for the 2021-2024 period. A descriptive quantitative approach was applied using secondary data obtained from the company's annual reports and GAIKINDO industry statistics. The analysis was conducted by calculating the Market Growth Rate (MGR) and Relative Market Share (RMS), which were then mapped onto the BCG Matrix. The results showed that MGR fluctuated from 67% in 2021 to 18% in 2022, then declined to -4% in 2023 and -14% in 2024, while RMS remained consistently above one, ranging from 3.44 to 4.67. The mapping results indicated that the automotive business unit occupied the Star quadrant in 2021-2022 before shifting to the Cash Cow quadrant in 2023-2024. PT Astra International Tbk was accordingly recommended to apply a Build strategy while in the Star position and a Hold strategy while in the Cash Cow position, in order to sustain its competitive advantage and optimize the utilization of its cash flow.
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