The Development Strategies for Village-Owned Enterprises in Optimizing Local Economy Development in Banyumas Regency, Indonesia

Enhancing the effectiveness and sustainability of BUMDES management in Indonesia can be achieved by identifying and resolving existing gaps in the management of BUMDES organizations. The primary aim of this study was to ascertain the development strategies employed by Village-Owned Enterprises (BUMDES) to enhance the optimization of Local Economic Development in Banyumas Regency, Indonesia. Analyzing an enterprise system's strengths, weaknesses, opportunities, and threats (SWOT) is a widely adopted practice within business organizations to formulate strategic plans. Hence, the primary objective of this study was to ascertain the internal and external factors influencing Village-Owned Enterprises. This endeavor involved collecting primary data through administering questionnaires to the managers and employees of 146 villages in Banyumas. The collected data was subsequently analyzed using a SWOT Analysis matrix to identify strategies for enhancing the status of each BUMDES category. To maximize the potential for local economic development, a village-owned enterprise must adopt a suitable strategy. In order to achieve precise targeting, it is imperative to tailor effective strategies to the specific circumstances of each BUMDES. One imperative strategy BUMDES Banyumas should adopt is optimizing the Strengths-Opportunities (S-O) strategy. This strategic approach is expected to facilitate the implementation of BUMDES Banyumas' more assertive growth policy.