Strengthening the Economics Study Program at FEB Unimed Through Needs Analysis and Development Strategies

Abstract

Strengthening the Economics Study Program of the Faculty of Economics and Business (FEB) of Medan State University (Unimed) requires a development strategy based on the needs of all stakeholders and a strategic environmental analysis. This study aims to identify stakeholder needs, analyze internal and external factors, and formulate a strategy for strengthening the study program that is applicable and sustainable. The study used a mixed methods approach with a sequential explanatory design, involving 166 respondents from six stakeholder groups (alumni, active students, lecturers, graduate users, study program heads, and laboratory heads), which were enriched with in-depth interviews and Focus Group Discussions (FGDs). Quantitative data were analyzed using the Internal Factor Analysis Summary (IFAS) and External Factor Analysis Summary (EFAS) matrices, while qualitative data were analyzed using the Miles and Huberman interactive technique to triangulate the quantitative results. The results showed a total IFAS score of 6.644 with a strength-weakness (S-W) difference of 0.124, and a total EFAS score of 6.759 with an opportunity-threat (O-T) difference of 0.0995. The strategic position of the study program is at coordinates (0.124; 0.0995), namely Quadrant I, which indicates a favorable condition with the main internal strength in the form of the quality of lecturers' human resources and external opportunities in the form of the development of a digital entrepreneurship ecosystem. The recommended strategy is an aggressive growth strategy (Strength-Opportunity) that utilizes the strength of human resources and the reputation of the department to capture opportunities for digital economic growth and entrepreneurship, without neglecting to improve weaknesses in the aspects of research-publication and utilization of digital technology.