Jurnal Akuntansi dan Keuangan Islam Volume 13.
Oktober 2025, hlm.
P-ISSN: 2338-2783 | E-ISSN: 2549-3876
DOI: https://doi.
org/10.
61111/jakis.
ISLAMIC FINANCIAL STRATEGY FOR FURNITURE
BUSINESS DEVELOPMENT: A SOAR ANALYSIS
APPROACH
Khusnul Khotimah.
Aqwa Naser Daulay.
Muhammad Ikhsan Harahap Universitas Islam Negeri Sumatera Utara Jl.
IAIN No.
Gaharu.
Kec.
Medan Timur.
Medan.
Sumatera Utara.
Indonesia Email: khusnulkhotimahkun@gmail.
com*, aqwanaserdaulay@uinsu.
harahap@uinsu.
ABSTRACT
This study aims to design an Islamic financial strategy for the development of the Djaya Tanjung Morawa Furniture business using the SOAR (Strengths.
Opportunities.
Aspirations.
Result.
analytical framework.
The research is motivated by the declining performance of small-scale furniture enterprises in North Sumatra amid intense competition and the growing use of non-wood materials.
Employing a qualitative descriptive approach, data were collected through interviews, observations, and questionnaires to evaluate both internal (IFE) and external (EFE) factors of the The SOAR analysis identified that the SR (StrengthsAeResult.
quadrant achieved the highest total score of 3.
865, indicating a strong potential for growth and The SR strategy emphasizes increasing sales through product diversification, design innovation, and the adoption of e-commerce platforms to expand market reach.
It also promotes production cost efficiency by utilizing the artisansAo experience to optimize processes aligned with Islamic financial ethics, focusing not only on profit generation but also on achieving barakah .
and maslahah .
ublic benefi.
The study contributes to Islamic business strategy literature by integrating financial stability with Sharia principles of productivity, fairness, and social The findings are expected to guide micro and small furniture enterprises in formulating growth-oriented, ethical, and sustainable business strategies within the Islamic economic framework.
Keywords: Islamic Financial Strategy.
SOAR Analysis.
Furniture Business.
Islamic Economics ABSTRAK Penelitian ini bertujuan merancang strategi keuangan Islam dalam pengembangan usaha furnitur Djaya Tanjung Morawa dengan menggunakan kerangka analisis SOAR (Strengths.
Opportunities.
Aspirations.
Result.
Latar belakang penelitian ini adalah penurunan kinerja usaha kecil sektor furnitur di Sumatera Utara akibat persaingan ketat dan meningkatnya penggunaan bahan non-kayu.
Penelitian ini menggunakan pendekatan kualitatif deskriptif dengan pengumpulan data melalui wawancara, observasi, dan kuesioner untuk menganalisis faktor internal (IFE) dan eksternal (EFE) Hasil analisis SOAR menunjukkan bahwa kuadran SR (StrengthsAeResult.
memperoleh skor tertinggi sebesar 3,865, menandakan potensi pertumbuhan dan keberlanjutan yang kuat.
Strategi SR menekankan peningkatan penjualan melalui diversifikasi produk, inovasi desain, serta pemanfaatan platform e-commerce untuk Diterima: 20/09/2025 Direvisi: 19,20,21/10/2025 Disetujui: 21/10/2025 Jurnal Akuntansi dan Keuangan Islam Vol.
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memperluas jangkauan pasar.
Selain itu, strategi ini mendorong efisiensi biaya produksi dengan mengoptimalkan pengalaman para pengrajin sesuai etika keuangan Islam, berorientasi tidak hanya pada pencapaian laba, tetapi juga keberkahan .
dan kemaslahatan .
Penelitian ini memberikan kontribusi terhadap literatur strategi bisnis Islam dengan mengintegrasikan stabilitas keuangan dan prinsip syariah yang menekankan produktivitas, keadilan, serta kesejahteraan sosial.
Temuan ini diharapkan dapat menjadi acuan bagi pelaku usaha kecil sektor furnitur dalam merumuskan strategi bisnis yang etis, berkelanjutan, dan berorientasi pada pertumbuhan dalam kerangka ekonomi Islam.
Kata kunci: Strategi Keuangan Islam.
Analisis SOAR.
Usaha Furnitur.
Ekonomi Islam.
INTRODUCTION
The furniture industry plays an important role in the Indonesian economy, as it has been proven to contribute significantly to the rate of increase in per capita income, namely Gross Domestic Product (GDP), and to improve people's welfare by providing labor absorption.
This has a positive impact on welfare, helping improve the community's standard of living and income.
In order for the growth of the industry to be more rapid (Rahmawati & Rohma, 2.
The government needs to encourage and support companies to continue cooperating and adapting to changing times.
In today's digital era, all economic activities have shifted to the digital realm.
Therefore.
Companies must be responsible for driving economic activity.
Based on the latest data from the Central Statistics Agency (BPS) of North Sumatra Province, the number of micro and small enterprises (MSE.
engaged in furniture manufacturing increased, followed by a decrease (Ismail et al.
, 2.
The data can be seen as Figure 1.
Number of Companies and Workers in the North Sumatra Furniture Industry Number of Companies and Workforce in the Furniture Industry in North Sumatra
12,000
10,401Perusahaan Tenaga Kerja 10,000 7,894 6,967 8,000 6,000 4,000 2,876 3,175 2,812 2,000 Perusahaan 2,876 3,175 2,812 Tenaga Kerja 10,401 7,894 6,967 Source: Central Statistics Agency of North Sumatra Province Khotimah.
Daulay, dan Harahap: Islamic Financial Strategy for Furniture BusinessA According to the image above, in 2020, there were 2,876 micro- and small-scale furniture companies operating in North Sumatra province.
This number increased to 3,175 furniture companies in 2022.
However, in 2023, the number declined again to 2,812 furniture companies.
Meanwhile, in 2020, micro and small furniture companies in North Sumatra province absorbed as many as 10,401 workers.
This number decreased significantly to 7,894 workers in 2022 and again to 6,967 workers in 2023.
This data indicates fluctuations in the number of business units in the micro and small furniture sector in North Sumatra province: an increase between 2020 and 2022, followed by a decline the following year.
On the other hand, the number of workers in this sector declined consistently from 2020 to 2023.
Strategy is a crucial element for a company's survival, necessary to achieve goals and objectives effectively and efficiently.
According to Foedz .
, business development is an effort by a group of organized people to achieve profits, for example, by producing and selling goods or services to meet consumer needs.
Business development strategies determine a company's direction and require decisions and encouragement for business growth (Zamista, 2.
The strategic position guides the actions the company should Every entrepreneur will use their best strategy and techniques to gain attention and attract consumer interest in the products they offer, in order to achieve the expected sales target.
In Sharia business, the business development strategy must integrate profitable business practices with Sharia principles, such as avoiding usury as a form of additional profit obtained from unfair loan transactions or buying and This is the key to business ethics and Sharia compliance in the QS.
AnNisa verse 29, it means "O you who have believed, do not consume your neighbor's property in an unlawful way, except in the form of business on the basis of mutual greed among you.
Do not kill yourselves.
Indeed.
Allah is Most Merciful to you.
" (Al-Quran Online, n.
However.
Muslim businesspeople often ignore the principles of business ethics in Islam during the business process.
Business ethics can help address several problems in modern business that are increasingly distant from ethical values.
As Qardlawi .
stated, "like science and morals, economics .
and morals .
are never separated at all, like two sides of a coin that are never separated.
" There are values that business actors must remember when carrying out their activities, in accordance with the teachings of Islam, to make a living.
In QS.
Al-Isra verse 66:
a a AEaNn aIacNn aE aI a aE eI aaeO UIA e aAE aA Eea e a Eaa e a a eO aI eI AA a eac aE aI Eac eO Oae eO Ea aE aI Ee aAEA The verse means: "It is your Lord who sails ships in the sea for you so that you may seek His bounty.
Indeed.
He is Most Merciful to you.
" (Al-Quran Online, n.
In the midst of rapid marketing growth driven by developments and changing times, companies need to work hard to survive the ever-increasing competition by strengthening the strategies for the goods or services they offer.
The more competitors, the more choices consumers have in choosing the Jurnal Akuntansi dan Keuangan Islam Vol.
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desired product.
The following is the data on the Growth of the Furniture Industry .
9 Ae2.
(Susanti, 2.
Figure 2.
Growth of the Furniture Industry .
9- 2.
Miliar Rupiah (RP) Furniture Industry Growth .
8,000 7,000 6,000 5,000 4,000 3,000 2,000 1,000 PDB Industri Furnitur
6,934
5,821
3,981
4,811
Pertumbuhan Industri Furnitur Tahun (%) PDB Industri Furnitur Pertumbuhan Industri Furnitur Source: Ministry of Industry Ae Republic of Indonesia From the graphs and data for the four years from 2020 to 2021, it can be seen that GDP decreased from 6,934 billion Rupiah to 3,981 billion Rupiah, and growth declined from 6.
93% to 3.
Then the furniture industry showed an increase in 2022, which indicates a recovery from the impact of the decline, as reflected in both GDP and its growth rate, demonstrating the furniture sector's resilience and adaptability in facing challenges.
From 2021 to 2022, the decline is likely to have been influenced by global or domestic economic factors, such as the COVID-19 pandemic, which peaked in 20202021.
The growth line .
follows the pattern of the GDP bar .
, showing that when GDP falls, the growth rate also decreases, and vice versa.
One of the furniture businesses in Tanjung Morawa is Alam Djaya Furniture, established in 2001.
The business initially focused on frame production and expanded into broader furniture manufacturing in 2005.
Its production site is integrated with the ownerAos residence and is strategically located on a busy roadside.
However, despite this potential, the marketing activities remain limited, relying solely on word of mouth and visual displays without utilizing online platforms.
This condition is becoming increasingly challenging, as todayAos consumers increasingly rely on digital search when assessing products.
Related to this topic.
Rizal's .
research shows that, in the digital era, many other furniture entrepreneurs have adopted online marketing, whereas Yus Meubel .
he research objec.
has not.
This creates a research gap regarding how digital technology can significantly increase sales and competitiveness for small furniture businesses.
Another study by Widhanarto et al.
, which uses SWOT analysis, highlights the need to apply SOAR analysis to evaluate business strategies, thereby enabling understanding and implementation in the furniture business to help formulate clear aspirations and measurable outcomes in addressing strategic challenges.
This includes being Khotimah.
Daulay, dan Harahap: Islamic Financial Strategy for Furniture BusinessA responsive to markets and trends, such as leveraging technology and social Previous studies have also shown that no research has explained the development strategy of the furniture industry using the SOAR analysis approach, as existing studies tend to rely on SWOT analysis.
Therefore, this creates a distinction in the understanding and implementation of development strategies through the SOAR approach in the furniture industry.
These conditions reveal a clear research gap, as there is still limited analysis of how small furniture businesses can strategically develop by integrating digital marketing and applying the SOAR analysis approach, which is more future-oriented and aligned with current market dynamics.
Therefore, this study aims to fill that gap by examining development strategies for the furniture industry using SOAR analysis to produce more constructive, aspirational, and measurable strategic recommendations.
The background of this research is the decline in the performance of small businesses in the furniture sector in North Sumatra, driven by tight competition and the growing use of non-wood materials.
This study aims to analyze the development strategy of Alam Djaya's furniture business using the SOAR approach from an Islamic economic perspective.
Through this analysis, aspirations can be formulated in accordance with Islamic values, achieve measurable results and blessings, and contribute to furniture business actors in designing effective, sustainable development strategies that align with Sharia Furthermore, this study emphasizes the application of Islamic financial concepts, such as cost efficiency, ethical profit-sharing, and financial accountability, as integral components of the SOAR-based strategy framework to achieve barakah .
and maslahah .
ublic benefi.
LITERATURE REVIEW
1 BUSINESS DEVELOPMENT STRATEGY
A business development strategy is essential for ensuring that companies can survive and grow in a competitive environment.
Amang .
states that business development involves planned efforts to increase capacity and efficiency and expand markets to achieve long-term organizational goals.
According to Zamista and Hanafi .
, a strategic plan must be formulated through a systematic analysis of strengths and opportunities to enable companies to make the right decisions amid market dynamics.
This strategic approach is especially crucial for micro, small, and medium enterprises (MSME.
, which are vulnerable to economic fluctuations and industrial MSMEs are also required to demonstrate resilience and innovation to maintain business continuity.
Sofyan .
emphasizes that resilience and innovation are key drivers of economic recovery, particularly for small industries facing significant challenges due to structural and environmental changes.
This shows that business development strategies aim not only for profit maximization but also for adaptability and sustainability in the long term.
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2 SOAR ANALYSIS AS A STRATEGIC APPROACH SOAR (Strengths.
Opportunities.
Aspirations.
Result.
analysis is a strengthbased strategic framework that emphasizes future orientation and measurable According to Stavros et al.
SOAR is derived from Appreciative Inquiry and emphasizes organizational strengths as the foundation for future development.
Unlike SWOT analysis, which emphasizes weaknesses and threats.
SOAR focuses on what an organization does well and how to expand these strengths.
Various studies demonstrate the effectiveness of the SOAR approach.
Anam .
applied SOAR in the field of educational administration and found that it promotes positive thinking and forwardlooking strategies in facing the challenges of the Industrial Revolution 4.
Widyaningsih .
used SOAR to develop business strategies in the creative fashion industry and revealed that a strength-based approach stimulates product innovation and competitive advantage.
Similarly.
Sugiarti et al.
found that SOAR can effectively support marketing improvement through digital platforms by combining strengths and opportunities to achieve targeted 3 ISLAMIC BUSINESS AND FINANCIAL PRINCIPLES Islamic business principles emphasize fairness, transparency, productivity, and social welfare.
According to Al-QurAoan Online .
), business activities must be carried out ethically without harming others and must be based on mutual This aligns with QardhawiAos view .
s cited in several Islamic business reference.
that economics and ethics are inseparable elements that shape responsible business behavior.
In line with these principles.
Batubara and Harahap .
explain that sharia-compliant business strategies require firms to avoid unethical practices, ensure justice, and uphold social responsibility.
Meanwhile.
Rokan .
highlights the concept of economic rights in Islamic jurisprudence, emphasizing fairness and protection for small traders in economic transactions.
Harahap et al.
also note that the development of creative industries from an Islamic economic perspective must consider maslahah .
ublic benefi.
and ethical considerations in business decisionmaking.
Islamic financial principles, such as transparency, cost efficiency, and fair resource distribution, are also essential for managing MSME operations.
Prakoso .
stresses the importance of cost control and ethical financial planning to maintain business sustainability.
These principles are relevant for small furniture businesses, especially those aiming to achieve barakah .
and maslahah while improving financial performance.
RESEARCH METHODS
This study employs a qualitative descriptive method to analyze the development strategy of the Alam Djaya Furniture business using the SOAR (Strengths.
Opportunities.
Aspirations, and Result.
The SOAR concept, as explained by Zamista and Hanafi .
, is derived from Khotimah.
Daulay, dan Harahap: Islamic Financial Strategy for Furniture BusinessA Appreciative Inquiry and focuses on leveraging strengths and opportunities to formulate future aspirations and measurable results.
Data are obtained from primary and secondary sources.
Primary data were collected through observation, interviews, and documentation, while secondary data, as defined by Sugiyono .
, consist of information gathered indirectly from research reports, articles, books, and relevant journals.
The analysis also integrates Islamic financial principles to ensure that all strategic alternatives remain aligned with sharia-compliant practices.
The data collection carried out by the researcher involved distributing questionnaires to 6 people: 1 person, the owner of the Alam Djaya Furniture 1 person, a business consultant.
1 person, a customer of the Alam Djaya Furniture business.
and four people.
The use of a small number of respondents in this study is acceptable because qualitative research prioritizes depth of information rather than numerical representation.
Several experts, such as Guest et al.
, explain that data saturation in qualitative research can be reached even with as few as 6Ae12 participants, depending on the homogeneity of the topic and clarity of the phenomenon being studied.
Similarly.
Creswell .
states that qualitative research may involve only 5Ae 25 participants as long as the data obtained is sufficiently rich and relevant.
Data were collected using Google Forms to facilitate efficient distribution and minimize time and cost.
The data analysis technique used is the SOAR analysis model according to Stavros and Hinrich .
, using the stages of SOAR analysis consisting of: Intiate.
Inquiry.
Imagine.
Innovation and Executio.
and compiled a SOAR matrix which is divided into four parts of analysis, namely S-A.
O-A.
S-R.
O-R to find out and describe the right business development strategy.
After processing the IFE and EFE matrices and obtaining the total score for each indicator, the values can be used in the next stage of the Internal-External (IE) matrix.
The following is an overview of the SOAR stages.
Figure 3.
SOAR Stages INTIATE
INQUIRY
IMAGINATION
INOVATION
INSPIRE TO IMPLEMENT
Source: Stavros et al.
, 2009
RESULTS AND DISCUSSION
1 RESULTS
The questionnaire includes a strategy formulation that assesses its application to the Alam Djaya wood furniture business.
Internal environmental analysis is Jurnal Akuntansi dan Keuangan Islam Vol.
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used to identify and evaluate the strengths and weaknesses of the Alam Djaya wood furniture industry.
These factors are within the company's control and can be manipulated and improved.
The factor consists of products (Produc.
It is a factor that an organization or company must consider because it affects a purchase decision: consumers are willing to buy an item at a relatively affordable price with the best quality.
A person buys a product not only because they like it but also because they get benefits, high use value, and long-term This aligns with Islamic economic principles of usefulness .
and product productivity.
Location (Plac.
is an important factor for strategic businesses and is easily visible to potential customers (Rizkyani & Anggraeni.
Physical visibility serves as a substitute for billboards.
consumers visit directly, and the quality of the products on display drives purchases.
Experience (Skil.
: Years of craftsmanship are invaluable assets, including the ability to process wood, understand its types, master carving, chiseling, and precise finishing.
Moreover, marketing (Marke.
is an activity that connects entrepreneurs and buyers.
it is one of the most important activities in every business or company, serving as a reference for whether the business develops.
The internal condition of the Alam Djaya Furniture business shows several strengths that strongly influence the companyAos operational In terms of production capability, the business employs artisans with more than ten years of experience, resulting in consistent product quality and meticulous finishing.
This high skill level contributes to productivity and aligns with Islamic economic values that emphasize usefulness and quality .
The business location, which is directly adjacent to a busy roadway, also becomes a strategic internal advantage, increasing visibility and attracting potential buyers through physical displays.
The products produced are considered superior in their class, both in terms of durability and aesthetic However, internal limitations also exist, such as a lack of digital marketing, leaving the business heavily reliant on word-of-mouth promotion.
Production capacity is also relatively limited, which affects the ability to meet high demand during peak periods.
External environment analysis is the process of identifying and evaluating factors beyond the company's control that could create opportunities or threats.
For the wood furniture industry, these factors greatly influence business strategies and decisions.
The analysis of the external environment includes the microenvironment, such as the democratic, economic, and technological factors.
The first factor in democracy is population growth, which affects the level of sales for each managed business's The two economic factors are the condition of an area, which can increase or decrease, and can affect the buying and selling activities of every business in the area.
Third, the proper use of technology can be a great opportunity, bringing significant changes to furniture operations, including advances in production, information, and marketing technologies, as well as the introduction of new materials and designs.
The external environment offers several opportunities to support the development of the wooden furniture business.
Market demand for wooden Khotimah.
Daulay, dan Harahap: Islamic Financial Strategy for Furniture BusinessA furniture remains stable, especially among consumers who prioritize long-term durability and natural materials.
Technological advancements in social media marketing, e-commerce, and online catalogs also create significant opportunities to expand market reach beyond the local area.
Collaboration with interior designers, construction companies, or online marketplaces offers potential synergy to strengthen distribution channels.
However, the external environment also poses threats, including the growing popularity of substitute products such as aluminum and PVC furniture, which are cheaper and more weather- and termite-resistant.
Economic fluctuations influence consumersAo purchasing power, while raw material prices tend to vary, potentially increasing production costs.
These external dynamics require the company to innovate, adopt digital technology, and strengthen marketing strategies to remain competitive.
The SOAR matrix strategy compiles strategic factors that describe the internal and external opportunities faced by the wooden furniture company.
The SOAR matrix consists of four strategies: SA (Strengths-Aspiration.
SR (Strengths-Result.
OA (Opportunities-Aspiration.
, and OR (OpportunitiesResult.
The following table shows the SOAR matrix strategy in the Mebel Alam Djaya business.
Table 1.
SOAR Matrix Strategy of Alam Djaya Furniture Business Internal Factors External Factors Aspirations Fulfillment of Islamic Economic Principles as a Wooden Furniture Manufacturer.
Expand Market Share.
Improve Production Efficiency.
Improving the Welfare of Employers and Strength Have superior product quality in its class compared to competitors.
Strategic location.
Have experienced craftsmen of more than 10 years.
Word of mouth SA Strategy Improve efficiency with the support of trained Utilizing strategic location and superior product quality to expand Opportunities Stable and increasing Innovation and Creativity Opportunities.
Wide Market.
Cooperate with Various Parties.
OA Strategy Developing innovative and creative new products to meet the increasing market Collaborate with other parties .
interior designers or Jurnal Akuntansi dan Keuangan Islam Vol.
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Employees.
market share.
Results Significant increase in Increased product Reduced production Increased customer SR Strategy Utilizing superior product quality and word of mouth marketing to improve product attractiveness and Optimize the experience of craftsmen to reduce production costs and maintain product quality.
e-commerce platform.
to reach a wider market.
OR Strategy Develop innovative marketing strategies and work with various parties to significantly increase Taking advantage of wide market opportunities to increase sales and The Internal Factor Evaluation (IFE) matrix is used to assess and provide an overview of the company's internal position, aiming to identify the company in utilizing its strengths and overcoming its weaknesses.
The External Factor Evaluation (EFE) matrix is used to evaluate the external opportunities and threats faced by the company, aiming to assess the company in response to external factors, such as economic changes, market trends, or government policies.
The results of the analysis of these two matrices are then combined to determine the strategic position of the company in the matrix.
The following table is the total scores from the IFE and EFE matrices.
Table 2.
Total IFE and EFE Matrix scores No.
Statement Strengths It has superior product quality in its class compared to competitors.
Strategic location.
Have craftsmen who have more than 10 years of experience.
Word of mouth marketing Total score Oppurtunities Stable and increasing demand.
Sum
Weight
Score
0,129
0,490
0,122
0,439
0,129
0,490
0,122
0,439
0,502
1,858
0,122
0,439
Rating Khotimah.
Daulay, dan Harahap: Islamic Financial Strategy for Furniture BusinessA Innovation Creativity Opportunities.
Vast Market.
Collaborating Various Parties.
Total score Aspirations Fulfillment of Islamic Economic Principles as a Wooden Furniture Manufacturer.
Expanding Market Share.
Improve Production Efficiency.
Improving the Welfare Employers and Employees.
Total score Results Significant increase in sales.
Increased product appeal.
Production cost efficiency.
Increased customer satisfaction.
Total score
0,129
0,490
0,136
0,544
0,111
0,345
0,498
1,818
0,114
0,387
0,121
0,121
0,435
0,435
0,121
0,435
0,477
1,692
0,135
0,135
0,118
0,135
0,523
0,54
0,54
0,387
0,54
2,007
The combination of the calculation of Internal Factor Rating (Strengths and Oppurtunitie.
and the calculation of External Factor Rating (Aspirations and Result.
, was used to determine the formulation and determination of IE (Internal-Externa.
matrix alternative.
which will show the total score.
This IE matrix is used to choose the right strategy consisting of nine cells to be applied in the Mebel Alam Djaya business.
This matrix combines the total scores from the IFE and EFE matrices.
Based on the calculation results, the total IFE score is:
Table 3.
IE Matrix IFE and EFE Results EFE TOTAL SCORE .
HIGH 3-4
TOTAL
IFE
SCORE
HIGH 3-4
MEDIUM
LOW
MEDIUM
LOW
i VII Vi The total scores of the IFE and EFE matrices that occupy positions I.
II, and IV can be categorized as grow and build.
The total scores of the IFE and EFE matrices that occupy positions i.
V, or VII can be categorized into hold and maintain positions.
Finally, the total scores of the IFE and EFE matrices in positions VI.
Vi, and IX are harvest or divestiture.
The total score is 3.
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which is the sum of .
, and the total EFE score is 3.
699, which is the sum of .
This total score places Mebel Alam Djaya's business in cell I .
uadrant I) of the IE matrix.
Quadrants I.
II, and IV of the IE matrices are categorized as "grow and build" positions.
This shows that the company is in a strong position and must take an intensive strategy to continue Table 4.
SOAR Diagrams and Quadrants Strengths (S) 1,858 Aspirations (A) II.
3,55
3,865
Results (R) 2,007 1,692 i.
3,51
Oppurtunities (O) IV.
3,825
1,818
The SOAR diagram illustrates the relationship between internal factors (Strengths and Opportunitie.
and external factors (Aspirations and Result.
through four strategic quadrants.
The Alam Djaya Furniture business is positioned in the SR quadrant, indicating that strong internal capabilities support achieving significant results.
This position reflects the company's ability to leverage its strengths to meet market expectations and generate measurable outcomes.
The Mebel Alam Djaya business company is positioned in quadrant I SR (Strengths-Result.
in the upper-right corner of the SOAR diagram, indicating that it can effectively leverage its internal strengths to achieve the desired outcomes.
With the highest score of 3.
865, this quadrant highlights the company's capability to convert its core competencies, such as skilled craftsmanship, innovative design, and strong supplier relationships, into tangible results.
The SR strategy focuses on increasing sales and profitability through several concrete actions: developing high-quality, market-relevant furniture products, expanding sales channels via e-commerce platforms to reach broader customer segments, and utilizing the artisans' experience to optimize production processes and reduce costs.
This approach not only enhances operational efficiency but also strengthens the company's competitive advantage by aligning internal strengths with measurable business results, thereby ensuring sustainable growth in the furniture industry.
Khotimah.
Daulay, dan Harahap: Islamic Financial Strategy for Furniture BusinessA
2 DISCUSSION
Based on the IFE and EFE analyses, the SR (Strengths-Result.
strategy is among the most effective for the Alam Djaya Furniture Business.
This strategy leverages internal strengths such as best-in-class product quality, a strategic location on the side of the road with passing motorists, artisans with more than 10 years of experience, and word-of-mouth marketing, because orang will not only recommend good furniture but also consider the owner trustworthy.
addition, the analysis process incorporates Islamic financial principles to ensure that all identified strategic alternatives reflect sharia-compliant financial practices, including ethical budgeting, fair cost distribution, and responsible capital management.
SR's strategy focuses on results such as increasing sales by developing or adding types of goods produced, increasing product attractiveness by improving interior design and using e-commerce platforms to reach a broader market and attract buyers, production cost efficiency by utilizing the experience of artisans to optimize the production process, not just to seek profits but to achieve blessings and benefits, and customer satisfaction.
SOAR
quadrant tables help visualize the relationship between strengths, opportunities, aspirations, and outcomes.
SR (Strengths-Result.
is in quadrant I.
SA (Strengths-Aspiration.
is in quadrant II.
OA (Opportunities-Aspiration.
is in quadrant i.
OR (Opportunities-Result.
is in quadrant IV.
The result of SR's strategic relationship with the IE matrix places the company in quadrant I, which falls into the Grow and Build category.
This is in line with the principles of Islamic economics about the productivity and usefulness .
of a product by utilizing the existing strengths to achieve targeted results in accordance with the provisions of Islamic economics.
Mebel Alam Djaya not only increases profits but also provides greater benefits to customers such as products are purchased not only because they like them, but also because they have benefits, high use value, long-term use and production cost efficiency through the utilization of artisans's experience also helps to maintain the financial stability of the company, which is very much in line with the principles of usefulness and Islamic business ethics.
Alam Djaya's furniture business also realizes maslahah by prioritizing the recruitment of local workers, making a real contribution to economic growth by creating jobs, being responsible with production waste to protect the environment and improve efficiency, and saving and optimizing production costs.
CONCLUSSION
Based on the SOAR analysis, the company is positioned in Quadrant I of the IE Matrix, indicating a strong grow and build orientation supported by its internal strengths, strategic location, and the expertise of long-experienced craftsmen, making the SR (Strengths Result.
strategy the most relevant in achieving increased sales, cost efficiency, and customer satisfaction in accordance with Islamic economic principles emphasizing productivity.
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, ethical financial management, and the avoidance of waste .
In essence, this study highlights that integrating SOAR analysis with Islamic financial strategy enables micro and small furniture businesses to achieve sustainable growth while maintaining compliance with Sharia values.
Financial decisions based on ethics, transparency, and social welfare ensure that business development contributes not only to profit maximization but also to spiritual and community prosperity.
These findings indicate that the SR strategy is a promising and highly suitable approach, not only practical from a business perspective but also ethical and aligned with Islamic economic values.
However, this study acknowledges several limitations, including a narrow research scope that focuses solely on one furniture business.
Alam Djaya, which limits the generalizability of the findings, as well as a limited number of participants, which, although sufficient for qualitative inquiry, still constrains the diversity of perspectives obtained.
Additionally, this study focuses primarily on SOAR, without comparing its outcomes with alternative strategic frameworks such as SWOT or TOWS.
Therefore, future research is recommended to involve a larger and more varied sample of furniture businesses across different regions and to integrate or compare multiple strategic analysis models, or explore additional variables such as consumer behavior and digital marketing effectiveness, so that subsequent studies may provide more comprehensive insights and a more substantial contribution to the development of Islamic financial strategies in the furniture industry.
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