Corresponding Author: Masegi Primartono

INTRODUCTION

Aquaculture is the regulated cultivation, or farming, of aquatic organisms such as fish, crustaceans, mollusks, algae, and other valuable organisms, including aquatic plants, such as lotus (Rejeki et al., 2019). Shrimp farming, a type of aquaculture, involves the controlled treatment of shrimp from seed stocking to harvesting for consumption (Sivaraman et al., 2019). Shrimp cultivation encompasses both freshwater and seawater shrimp, including the widely recognized Vannamei shrimp (Litopenaeus Vannamei) (Amelia et al., 2021). Vannamei shrimp is an introduced species known for its numerous advantages, such as wide salt tolerance, fast growth, and high vitality. Cultivation of Vannamei shrimp typically takes place along the seashore (Usman et al., 2022). Over time, various techniques have been developed to enhance production (Amrillah et al., 2015). In different regions, Vannamei shrimp is known by various names, such as Hawaiian shrimp, Mexican shrimp, Ecuadorian shrimp, Vaname shrimp in Indonesia, Puteh shrimp in Malaysia, and Khung Kao in Thailand (Yustiati & Andriani, 2022).

Litopenaeus Vannamei is a popularly produced and exported shrimp species (Murti & Heryanto, 2020). Due to its high demand in the global market, Indonesia has become the fourth-largest shrimp exporting country, following Ecuador, India, Vietnam, and Argentina as of 2021 (Yulisti et al., 2021). Shrimp aquaculture is a profitable business, given the high value and premium status of shrimp as a sought-after food product (Notohamijoyo, 2023). This leads to a consistently growing market, particularly in industrialized countries. In 2021, shrimp ranked as Indonesia's top exported fisheries commodity, with an export value of US$1.54 billion (Ir H Suharno Prawiro, 2023).

Table 1.Top Exporting Countries of Frozen Shrimp and Prawn

Country	Share in Export Value 2021	Export Value 2021, USD	1-Year Growth in Export Value 2020-2021	3-Year Growth in Export Value 2018-2021	5-Year Growth in Export Value 2016-2021
India	29.47%	$5.16B	+35.67%	+18.08%	+48.91%
Ecuador	16.19%	$2.83B	-22.02%	-3.14%	+25.28%
Vietnam	10.07%	$1.76B	-9.70%	-11.31%	-3.27%
Indonesia	8.81%	$1.54B	+8,57%	+14.15%	+21.81%
Argentina	6.72%	$1.18B	+40.21%	-10.24%	+16,38%
Thailand	3.55%	$621.10M	+8.52%	-11.99%	-32.89%
China	2.57%	$450.13M	-3.05%	-34.11%	-57.10%
Spain	2.44%	$426.92M	+48.99%	+23.17%	+32.91%
Bangladesh	1.75%	$306.99M	-2.28%	-13.75%	-31.35%
Netherlands	1.72%	$301.41M	+21.87%	+23.98%	+108.82%

Source: UN Comtrade (2021)

The government recognizes the significance of the aquaculture sector (Windasai et al., 2021). It has implemented various programs to promote shrimp and milkfish (Bandeng) production centers. Under President Joko Widodo's administration, particular emphasis has been placed on the development of coastal border areas, with the objective of establishing Indonesia as a nation with a robust maritime identity. The National Medium-Term Development Plans (RPJMN) aim to increase fish and shrimp production to 10.32 million tons by 2024, growing at a rate of 8.5% per year. This growth will be facilitated by the development of infrastructure connecting production areas such as small industries, tourism, rice fields, plantations, and fishery ponds with the local communities. As Indonesia ranks as the fourth largest shrimp exporting country, shrimp aquaculture proves to be a lucrative business, with a steadily expanding market, particularly in industrialized nations.

The shrimp aquaculture industry relies on rapid and healthy crustacean growth and development for profitability. However, it needs help to produce sustainability (Sampantamit et al., 2020). Poor management practices have resulted in crop failure, reduced production, and low business productivity, hindering the industry's potential for significant contribution. This has left shrimp farmers concerned about the quality of their products, which should have been a cause for celebration with optimal management practices (Garno et al., 1995). Based on various research (FIAS, 2006 and IRA, 2005), some possible gaps in the shrimp industry in Indonesia were identified:

1) Capital problems faced by small-scale farmers.

2) Poor quality breed stock.

3) High-cost shrimp farm operation.

4) Poor management practice at the farm.

This research presents a thorough assessment of Company X's shrimp farming operations, explicitly targeting the Lamongan site located in East Java, Indonesia. The main aim is to examine the factors responsible for the decline in business productivity, which inevitably results in a lack of competitiveness. Several problems have been identified in the Indonesian shrimp industry, such as small-scale farmers encountering capital constraints, problems with breed stock quality, high operational costs, and suboptimal farm management practices. It is essential to investigate how these obstacles affect commercial competitiveness, leading to ecological issues, problems in domestic and international markets, and adherence to health and safety criteria. These factors collectively shape the intricate panorama of shrimp farming business productivity. The core aim of this analysis is to develop strategies that enhance both the competitiveness and productivity of Company X within the broader domain of shrimp farming.

Figure 1. Shrimp Culture Production in Indonesia

Source: Ministry of Marine Affairs and Fisheries Republic of Indonesia (2020)

In East Java, a key player in Indonesia's shrimp sector, about 30% of the country's shrimp farming is concentrated, particularly in coastal districts like Gresik, Lamongan, and Tuban. The East Java DKP notes a cultivation area of 57,343 hectares, indicative of the region's robust aquaculture industry. However, Company X's Lamongan site, despite its advantageous location, has seen a worrying trend. The production yield has decreased progressively over four cultivation cycles totaling around 305 days, starting from January 7, 2022, suggesting the need for urgent intervention to address the suboptimal performance.

Figure 2. 4 Cycles Company X's Production Yield Trend

Source: Company X data (2023)

Upon evaluating the average production yields per square meter across the different cycles, the figures are as follows:

a. Cycle 1 achieved roughly 2.27 kg/mï¿½, indicating a robust start that exceeds the industry's lower productivity benchmark of 1 kg/mï¿½.

b. Cycle 2 saw a decrease to nearly 0.98 kg/mï¿½, which falls below the industry's lower threshold.

c. Cycle 3 experienced a further decline to about 0.46 kg/mï¿½.

d. Cycle 4 encountered complete failure with zero production.

These statistics reveal that while Company X began with firm productivity, surpassing the industry's minimum productivity standards of 10,000 to 15,000 kilograms per hectare, or 1 to 1.5 kg/mï¿½ as mandated by Peraturan Menteri Kelautan dan Perikanan No. 75 Tahun 2016, the subsequent cycles showed a troubling decrease in yield. The failure of the fourth cycle suggests severe operational challenges. This negative trend poses a serious concern for Company X. The sharp drop in production yields, particularly the fourth cycle's failure, implies potential issues ranging from inefficient farming practices to environmental challenges and health and disease management within the ponds.

Figure 3. Company X Financial Performance

Source: Company X Data (2023)

The financial performance of Company X is a testament to the critical interplay between production yields and economic outcomes within aquaculture operations. Initially, in the first cultivation cycle, the financial data presents a promising scenario with a reported revenue of Rp 746,590,152 and a total cost of Rp 427,959,815. This disparity between revenue and cost indicates a profitable operation, aligning with a high production yield of 2.27 kg/mï¿½.

As the cycles progress, a disconcerting trend emerges. The second cycle reveals a significant contraction in revenue to Rp 231,455,391, while costs are reported at Rp 201,401,303. The narrowing margin between revenue and cost during this cycle suggests an attenuation of profitability. This downturn mirrors the reduced yield of 0.98 kg/mï¿½.

The third cycle amplifies this concern with a further decline in revenue to Rp 87,962,672, juxtaposed against a rise in total costs to Rp 208,410,845, an inversion that indicates operational losses. This financial decline corresponds with a yield reduction to 0.46 kg/mï¿½, thereby underscoring the problems of maintaining financial stability amidst decreasing yields.

The culmination of these trends is starkly illustrated in the fourth cycle, where both revenue and total costs plummet to Rp 0. This reflects a cessation of production activities, corroborated by a zero production yield, and underlines the profound impact of operational disruptions on financial sustainability. To address these problems, it is imperative for Company X to conduct a thorough investigation into the causes of the yield decline and to devise and implement remedial strategies. Such strategies should focus on enhancing pond management practices, bolstering disease prevention and control measures, and improving feed and resource efficiency. These improvements are vital for Company X to not only regain its productivity but also to enhance its competitiveness within the aquaculture industry, especially when measured against established industry benchmarks.

Based on the background above, this research aims to identify critical issues and formulate effective strategies to enhance competitiveness and productivity of businesses while also developing a framework for sustainable shrimp aquaculture. The benefits of this research can be directly experienced by stakeholders in the shrimp aquaculture industry, as the research findings will provide concrete and applicable guidelines to improve production efficiency, reduce operational costs, and enhance natural resource management. Consequently, this research not only aids in enhancing business profitability but also contributes positively to environmental sustainability and social welfare in the shrimp aquaculture sector.

METHOD

The research methodology adopted in this study is carefully designed to explore and devise robust strategies to address the challenges faced by Company X in its shrimp farming operations, with an intensive focus on enhancing business productivity. The issue of suboptimal productivity, leading to weak competitiveness in the global market, is approached through a structured methodology that combines qualitative and quantitative analysis. The research design serves as a blueprint for examining various aspects of operational efficiency and their subsequent impacts on Company X's competitive position in the shrimp farming industry. The research begins by establishing a theoretical foundation linking productivity to competitiveness. Through a comprehensive literature review, the study identifies models and theories that describe the relationship between these constructs. This foundational stage sets the premise for further empirical investigation.

Qualitative data is collected through in-depth interviews with industry experts, practitioners, and internal stakeholders at Company X. These interviews aim to glean different insights into operational issues and market dynamics contributing to the company's suboptimal productivity. The qualitative approach allows for exploratory assessment of complex factors that could be more easily measurable, such as managerial practices, employee engagement, and external market pressures. This engagement aims to sift through various insights regarding operational challenges and market dynamics contributing to the company's suboptimal productivity. The qualitative approach enables an exploratory assessment of complex factors that could be more easily measurable, such as managerial practices, employee engagement, and external market pressures.

Simultaneously, quantitative data is gathered to provide objective measures of productivity, such as production output, feed conversion ratios, growth rates, financial performance, and shrimp survival rates. These metrics are crucial for assessing Company X's operational efficiency and its ability to produce at costs aligned with competitive market prices. The research design employs a mixed-method approach to data analysis, where qualitative and quantitative findings are integrated to provide a comprehensive understanding of the issues. This methodological triangulation ensures that each set of data provides information and reinforces each other, thus yielding diverse perspectives on the company's challenges.

Following data analysis, the research design utilizes SWOT and TOWS analyses to strategically formulate business solutions to address Company X's productivity issues. This analysis will guide the development of interventions such as optimizing farming practices, improving disease control, and enhancing feed efficiency. The aim is to leverage Company X's strengths and opportunities while mitigating weaknesses and threats, thereby enhancing the company's competitiveness in the market.

The data collection methods used in this research include primary data gathered through interviews, employing a purposive sampling approach, and secondary data, including the use of published journals, online articles, reports, and websites.

RESULTS AND DISCUSSION

Internal Environmental Analysis

Table 2. Company X's problems

Internal	Outside
1. Using Inefficient Technology and Methods	1. Poor management of waste from nearby shrimp ponds
2. Contaminated Water Sources	2. Changes in Climate and Weather Conditions
3. Epidemic of a disease: Lack of Appropriate Biosecurity Systems Lack of Supervision and Failure to Follow Standard Procedures	3. Hatcheries Sell Low Quality or Disease Infected Seedlings
4. Inadequate Water and Waste Management Systems
5. Inability to Comply with Regulations
6. Ignoring the Importance of Benchmarking on the Welfare of Shrimp Farmers
7. Lack of Innovation
8. Not Having a Clear Plan and Strategy
9. Reluctance to Adopt New Technology or Methods
10. Focusing on Solutions Rather Than Prevention
11. Limited Market Access
12. Unclear Scope of Work
13. Field Technician Negligence
14. Lack of Commitment and Poor Employee Work Performance: Lack of Employee Training
15. Financial Constraints
16. Financial Loss: Harvest Failure

Source: Company X Data (2023)

This report outlines several key areas where problems can arise, potentially leading to less-than-optimal levels of productivity and competitiveness in shrimp farming operations. Here is a breakdown of the categories and related issues:

In the root cause analysis of the company internally, problems range from inefficient practices to strategic and regulatory weaknesses. Inadequate use of technology, poor water quality management, and inadequate disease control through biosecurity and surveillance were identified as critical factors that directly threaten shrimp health and harvest success. This, in turn, leads to financial losses. Company resistance to change, which can be seen from companies' non-compliance with regulations, failure to benchmark against industry standards, and reluctance to accept innovation, increasingly hinders progress and competitiveness.

Strategically, a lack of a clear plan and a hesitant attitude in adopting new technologies, coupled with a reactive approach to problem-solving, limits a company's ability to expand market access and scale effectively. Internal operational inefficiencies, such as unclear job roles, technician negligence, and lack of workforce commitment and training, contribute to financial constraints and magnify the impact of crop failure.

Mr. Ari Prakoso, the shrimp farming expert, underscored the need for a holistic strategy: "This comprehensive approach that addresses a variety of internal and external issues is critical for Company X to not only stabilize finances but also secure a competitive advantage in the market."

Externally, poor waste management practices by livestock around agricultural land introduce contaminants into water systems, directly impacting water quality and contributing to broader environmental degradation. Climate change further complicates these challenges, potentially altering ecosystems and making shrimp populations more vulnerable to disease. Mr Prakoso explained, "The ripple impact of external factors such as waste disposal practices in the surrounding environment and climate change is enormous. This impacts not only the surrounding environment but also the health of the shrimp, especially when shrimp stocks start to weaken from low-quality hatchery seeds. "

These external barriers, including the procurement of low-quality seed, may reflect broader industry issues, with hatcheries themselves grappling with environmental changes and poor practices. In short, root cause analysis describes the spectrum of internal and external factors that cumulatively contribute to the company's shrimp farming business.

Based on root cause analysis, this section shifts its focus to important technical metrics that are the basis for successful shrimp farming: Feed Conversion Ratio (FCR), growth rate, survival rate, and production yield. These metrics not only reflect operational efficiency and soundness of agricultural processes but are also determinants of profitability and sustainability. As Mr. Ari Prakoso, an industry expert, emphasizes, 'In shrimp farming, the difference between profit and loss often depends on careful management of key performance indicators such as feed conversion ratio (FCR) and growth rate.' This perspective reinforces the need for an in-depth examination of these metrics at Company X and linking them to the root causes previously identified. The goal is to establish a clear correlation between operational issues and their measurable impact, preparing the foundation for strategic improvements and informed decision-making.

Survival Rate (SR)

Survival rate is an essential metric for evaluating the effectiveness of shrimp farming environments (SUTRISNO, 2022). This includes factors such as water quality, stock density, and disease management. Evaluation of survival rates during the second cycle is based on predetermined thresholds that classify results as high, moderate, or low depending on the percentage observed. This threshold serves as a benchmark for assessing the success of cultivation practices. Additionally, this report provides insight into the adaptability of shrimp populations to farming conditions and the overall effectiveness of farming practices.

Figure 4. Survival Rates Over 4 Cycles

Source: Author (2023)

The first cycle at Company Pools 1, 2, and 3 had survival rates of 85.48%, 85.34%, and 90.47%, respectively. However, in the second cycle, namely from May 12 to July 22, 2022, there was a significant decrease in survival rates. Pond 1 had a survival rate of only 47.56%, while Ponds 2 and 3 showed moderate threshold levels of 61.02% and 60.63%. This decline was caused by management errors, especially excessive use of lime (CaO) and forced harvesting of some shrimp during the molting process, which caused stress and an inability to adapt to water changes. Naufal Dzaky explained, "In the second cycle, inappropriate use of lime and excess capacity caused stress conditions, which had a negative impact on the survival rate of the shrimp."

Mr. Ari Prakoso added, "Environmental factors such as water quality and handling practices during critical growth phases play an important role in determining the health and survival of shrimp."

The third cycle further emphasized these challenges, with survival rates dropping drastically across all ponds. The early appearance of White Spot Disease in Pond 2, despite following SOPs, indicates a problem in disease management. Naufal Dzaky stated, "The low survival rate in the third cycle, especially with the outbreak of White Spot disease, highlights the complexity and vulnerability in shrimp farming."

The fourth cycle, which began on December 1, 2022, ended in disaster, with a 0% survival rate in all pools. The use of seeds that are not uniform and have the potential to be attacked by disease from the MS Situbondo hatchery is a crucial factor. Dzaky noted, "The total loss in the fourth cycle was a consequence of using damaged seeds, thus underscoring the importance of seed quality."

Mr. Prakoso concluded, "Ensuring the health and consistency of seed sourced from hatcheries is critical. The failure of the fourth cycle illustrates how substandard seed quality can have a detrimental impact on the entire farming operation."

Feed Conversion Ratio (FCR)

Feed conversion ratio (FCR) and survival rate (SR) are essential metrics in shrimp farming (Tosi et al., 2023). FCR expressed in the ratio 1:x.xx shows the efficiency of feed use, where for 1 kilogram of increase in shrimp weight, x.xx kilograms of feed are required. Meanwhile, SR measures the percentage of shrimp that survive until harvest. These metrics are intrinsically interrelated, as efficient feed conversion (evidenced by lower FCR values) often correlates with higher survival rates, reflecting overall farm health and management effectiveness.

During the first cycle at Company X, the FCR and SR results were good. The ponds showed good FCR, indicating efficient feed utilization, balanced by high survival rates (85.48% in Pond 1, 85.34% in Pond 2, and 90.47% in Pond 3). This correlation indicates that optimal feeding practices have been implemented, thereby supporting shrimp health and growth.

Figure 5. FCR Trend for 4 Cycles

Source: Author (2023)

However, in the second cycle, the decline in FCR efficiency, especially in Pond 1, was reflected in a drastic decrease in SR. Pond 1 recorded a survival rate of only 47.56%. Mismanagement factors that influence FCR, such as excessive lime use and overfeeding, also impact SR. These adverse conditions are likely to stress the shrimp, leading to lower survival rates. Similarly, Ponds 2 and 3 showed slight increases in FCR and moderate SR thresholds, indicating the need for improved management practices.

The emergence of White Spot (WS) disease in Cycle 3, especially in Pool 2, further illustrates the relationship between FCR and SR. Outbreaks of this disease, likely caused by infected fry, negatively impacted shrimp health, leading to worse FCR and lower SR. In the last cycle, the use of non-uniform and potentially disease-ridden seeds had a significant impact on FCR and SR, culminating in a survival rate of 0%, indicating a poor impact of seed quality on livestock productivity.

Naufal Dzaky observed, "The clear correlation between FCR and SR across cycles reflects the direct impact of farming practices on shrimp health and productivity." Mr. Ari Prakoso added, "Efficient feed conversion and high survival rates are mutually reinforcing things. Disturbances in one aspect often lead to negative results in other aspects, thus showing the need for a holistic approach in managing shrimp ponds ".

In conclusion, the interconnected nature of FCR and SR at Company

Growth Rate (GR)

Vannamei shrimp, which is greatly influenced by factors such as stocking density, feeding frequency, and water quality, plays a vital role in determining overall cultivation efficiency (Aisyah et al., 2023). At Company X, varying growth rates are observed in different cycles, each having different implications for FCR and SR.

Figure 6. Growth Rate for 4 Cycles

Source: Author (2023)

First Cycle

a. Duration: 93 days (23 weeks)

b. Optimal Growth Rate Threshold: 1 to 1.5 grams per week

c. Expected Total Growth: 23 to 34.5 grams

d. Actual Growth Rate: Pool 1 (26.4 grams), Pool 2 (26.1 grams), Pool 3 (21.2 grams)

e. Final size (head/kg): Pool 1 (37.8 head/kg), Pool 2 (38.3 head/kg), Pool 3 (47.2 head/kg)

f. Implications: All farms achieved growth rates within or near the optimal range, correlating with good FCR and high SR.

Second Cycle

1) First Harvest Period: Duration 68 days (17 weeks)

a. Optimal Growth Rate Threshold: 1 to 1.5 grams per week

b. Expected Total Growth: 17 to 25.5 grams

c. Actual Growth Rate: Pool 1 (9.8 grams)

d. Final size (head/kg): Pool 1 (102 head/kg)

2) Second Harvest Period: Duration 71 days (18 weeks)

a. Optimal Growth Rate Threshold: 1 to 1.5 grams per week

b. Expected Total Growth: 18 to 27 grams

c. Actual Growth Rate: Pool 2 (12.6 grams), Pool 3 (14.9 grams)

d. Final size (head/kg): Pool 2 (79 head/kg), Pool 3 (67.1 head/kg)

3) Implications: Growth rates in all ponds are below the optimal range, which is reflected in an increase in FCR and a decrease in SR. Stressors such as overuse of lime and overcapacity likely contributed to this outcome.

Third Cycle

1) First Harvest Period: Duration 51 days (13 weeks)

a. Optimal Growth Rate Threshold: 1 to 1.5 grams per week

b. Actual Growth Rate: Pool 1 (8.1 grams)

c. Final size (head/kg): Pool 1 (123 head/kg)

2) Second Harvest Period: Duration 57 days (14 weeks)

a. Optimal Growth Rate Threshold: 1 to 1.5 grams per week

b. Actual Growth Rate: Pool 2 (9.8 grams), Pool 3 (9 grams)

c. Final size (head/kg): Pool 2 (102 head/kg), Pool 3 (111 head/kg)

3) Implications: Continuously decreasing growth rates, correlated with the outbreak of White Spot disease, resulted in inefficient FCR and reduced SR.

Fourth Cycle

1) There needs to be specific growth data due to the high mortality rate and complete absence of harvest.

2) Implications: The absence of growth data highlights a severe mortality problem, which directly impacts SR. Environmental stressors and disease outbreaks, such as White Spot disease, most likely contributed to this disaster.

Naufal Dzaky commented on the cycle, "The varying growth rates in each cycle reflect the direct impact of environmental and management factors on shrimp health." Mr. Ari Prakoso added, "The relationship between growth rate and FCR and SR is proven. Optimal growth is very important to maintain feed efficiency and ensure shrimp survival."

Production Yield (Kg/hectare or Kg/ ㎡)

Table 3. Production Yield Standards for Intensive Systems

Parameter	Unit	Optimal Range	Reference
Produce	Kg/hectare	10,000 - 15,000	KP Ministerial Regulation No.75 of 2016

Source: Akbarurrasyid et al. (2023)

According to the Minister of Maritime Affairs and Fisheries Regulation No. 75 of 2006, production yield standards for intensive shrimp cultivation systems range from 10,000 kg/hectare to 15,000 kg/hectare.

To facilitate calculations, this standard must be adjusted to the actual shrimp pond area of the company.

The optimal production yield range must be accompanied by density standards for intensive shrimp farming systems because these factors are interrelated and interdependent. Company X uses different stocking densities in each pond, and these different densities produce different production results for each pond. The adjusted production yield thresholds are presented in the table below:

Table 4. Adjusted Production Yield Standards for Intensive Systems

Parameter	Unit	Optimal Range	Reference
Produce	kg/ ㎡	1 ï¿½ 1.5	KP Ministerial Regulation No.75 of 2016

Source: Author edited (2023)

From the adjusted production standards, the performance of Company X's production results can be analyzed and assessed at each cycle.

Figure 7. Production Results for 4 Cycles

Source: Author (2023)

Analysis of Company In the first cycle, all three ponds achieved optimal results, indicating effective and productive initial shrimp farming practices. Naufal Dzaky noted, "The success of the first cycle is a clear indicator that cultivation practices are effective in meeting the expected yield targets." The success of this cycle correlates with favorable metrics in FCR, growth rate, and survival rate (SR), underscoring the harmonious balance of key agricultural parameters.

However, the second cycle faced challenges characterized by less-than-optimal results, especially in Pond 1. This was caused by environmental management errors, such as inappropriate use of lime and stress when the shrimp was molted, which had an impact on not only the shrimp's health but also its growth. And shrimp survival. Ponds 2 and 3 also experienced reduced yields due to problems such as overcapacity and water quality problems. Naufal Dzaky reflected on these challenges by saying, "Suboptimal harvest results in the second cycle are a direct consequence of increasingly complex stress factors." Mr. Ari Prakoso added to his understanding of this cause-and-effect relationship by stating, "Crop yield deficiencies are often caused by inadequate water quality management and nutritional imbalances." This problem in the second cycle resulted in FCR increasing, growth rate decreasing, and SR decreasing.

Yields in the third cycle were increasingly affected by the outbreak of White Spot disease, as well as other stress factors such as water quality and challenges in seed selection. The correlation between these health issues and operational metrics becomes clear when disease outbreaks lead to inefficient FCR, lower growth rates, and reduced SR, which directly impacts crop yields.

The most noticeable results were seen in the fourth cycle, where specific yield data were not available due to significant problems and mass mortality. The failure of this cycle, characterized by the outbreak of White Spot disease and problems with seed quality and health, is an imperfect reflection of the negative impact of these factors on shrimp farming.

As stated succinctly by Pak Prakoso, "Severe problems such as disease outbreaks and poor seed quality can destroy the entire production cycle." This disastrous cycle shows a direct correlation between no harvest and high mortality rates, poor growth, and dismal SR, highlighting the importance of maintaining health and environmental standards in shrimp farming.

Analysis of Company X's Shrimp Cultivation System

After thoroughly analyzing key performance indicators such as survival rate (SR), feed conversion ratio (FCR), production yield, and growth rate, the focus has now shifted to a holistic evaluation of Company X's shrimp farming system. This analysis is based on insights from The previous metric and aims to dissect and understand the operational intricacies of the shrimp farming process. As detailed in Chapter II, essential aspects such as pond area, stocking density, water level, paddle wheel aerator, and construction materials are at the heart of this assessment. These elements are essential in determining the efficiency and sustainability of shrimp farming operations.

Future analysis compares these operational components with threshold characteristics established across a range of farming systems, ranging from semi-intensive to intensive and super-intensive. This comparison is critical to accurately categorizing Company X's practices within the defined system.

Preliminary findings indicate that Company This system analysis, combined with findings regarding SR, FCR, yield, and growth rate, will provide a multi-dimensional view of the health of farm operations and areas for improvement, thereby creating a roadmap for improving Company X's overall shrimp productivity and sustainability. Agricultural business.

Table 5. Company X Shrimp Cultivation System

Agricultural Systems
Criteria	Semi-Intensive	Intensive	Super Intensive	Comparison Value	Evaluation
Pool area (Ha)	≥ 0.5	0.1 - 0.4	≤ 0.1	0.11 - 0.14	Meet the standards
Stocking density (Individual/ ㎡)	10 - 50	60 - 200	210 - 1000	116 - 174	Meet the standards
Water height (cm)	50 - 80	100 - 150	200 - 300	120	Meet the standards
Paddle wheel aerator	Four units/0.1 Ha	Ten units/0.1 Ha	Four units/0.05 Ha + root blower	9 units; 6 units; 6 units	Below standard
Construction	Soil/HDPE	Soil/HDPE	HDPE/Concrete	HDPE	Meet the standards

Source: Company X Data (2023)

Financial analysis

After examining in depth the Production Yield, Feed Conversion Ratio (FCR), Growth Rate (GR), and Survival Rate (SR) in the operational aspects of Company X's shrimp farming, this thesis now turns to critical financial analysis. This section will correlate the financial results of the shrimp farming business with the biological and operational metrics analyzed previously. It will examine the impact of factors such as yield, feed efficiency, shrimp growth, and survival rate on the overall profitability and cost-effectiveness of operations.

It is important to note that financial data for the fourth cycle were not recorded, creating limitations to this part of the analysis. However, the financial implications of the first three cycles will be thoroughly evaluated to understand how these key performance indicators affect Company X's financial health, as they directly affect revenue generation and operational costs. This financial analysis not only aims to provide insight into the economic viability of Company X's shrimp farming practices but also highlights areas where operational efficiency can result in improved financial performance.

By integrating a financial perspective with operational data, this analysis seeks to offer a comprehensive view of the link between biological efficiency and economic sustainability in shrimp farming. Details of the financial calculations and methodology used in this analysis will be provided in the appendix for reference and further study.

Table 6. Analysis of Economic Aspects Based on Total 3 Cycle Calculations

NO	Economic Aspects	Amount
1	Investment costs	Rp. 427,959,815
2	Fixed cost	IDR 213,854,426
3	Prices vary	IDR 623,917,537
4	Total cost	IDR 837,771,963
5	Income	IDR 1,066,008,215
6	Net profit (R/L analysis)	IDR 228,236,252
7	B/C Ratio Analysis	1.27
8	BEP:
	A. kg	1,278.66
	B. Income	IDR 837,771,963
9	PP (cycle)	2

Source: Company X Data (2023)

VRIO Analysis

In the context of the highly competitive shrimp farming industry, the Company results. The VRIO framework, which stands for Value, Rarity, Imitability, and Organization, provides a structured approach for the company. This analysis is critical given the industry-specific challenges and opportunities highlighted in the previous section and the need to understand the unique value, scarcity, and strategic organization of its resources in relation to operational and financial metrics.

By correlating operational metrics of crop yield, feed efficiency, growth, and survival rate with VRIO analysis, Company X can gain a deeper understanding of how its internal capabilities contribute to these key performance indicators. This understanding is essential for identifying strengths and weaknesses in a company's current practices. It is essential to realize that to achieve a sustainable competitive advantage in the shrimp farming sector, the company.

The use of VRIO analysis, along with findings from operational and financial assessments, allows Company X to determine potential areas for sustainable competitive advantage. This integrated approach will enable the company to develop strategies that leverage its unique resources and capabilities, aligning them with the operational efficiencies and financial viability required to excel in the competitive shrimp farming industry.

Table 7. VRIO Analysis of Company

Core Capabilities/Resources	Valuable	Weirdness	Inimitable	Organized	Impact
Product	X				Competitive Parity
Market Access	X				Competitive Parity
Infrastructure	X				Competitive Parity
Financial resources	X				Competitive Parity
Employee					Competitive Disadvantage
Management Strategy					Competitive Disadvantage

Source: Author (2023)

Employees: Prominent competitive weaknesses are seen in employee commitment and skill levels. This shortage is likely to have a direct negative impact on FCR, SR, and production yields. Initiatives aimed at improving employee training, improving hiring practices, and cultivating a more effective work culture can result in substantial improvements in these critical performance indicators.

Management Strategy: Company X's management strategy is also not considered valuable, rare, inimitable, or uniquely conceived. This puts Indonesia at a competitive disadvantage, highlighting the need for strategic improvements in this area. Several reasons could cause it:

a. Ineffective Planning: Management may not plan production to meet demand on time, quantity, and quality.

b. Underutilization of Resources: Companies may not utilize and optimize the land they own to increase production volume.

c. Poor Implementation of Good Practices: Companies may need to implement good aquaculture practices (GAqP), which are critical to the success and sustainability of a shrimp farming business.

In conclusion, the company's overcoming these shortcomings and strategically utilizing existing resources can significantly improve operational and financial performance, thereby strengthening Company X's competitive position in the shrimp farming industry.

Benchmarking with Company Y

In the context of this thesis, a detailed competitor analysis was carried out to compare Company X with Mr. Ajat's shrimp farm (Company Y) by utilizing strategic management theory and competitive benchmarking principles. Focus has been placed on various vital operational aspects, given the absence of financial reports and growth rate (GR) data from Company Y. This analysis will investigate the specifics of the shrimp farms, comparing the physical and infrastructure attributes of the two farms. Contextualize their operational methodology.

Alongside this, a critical review of the shrimp farming systems used by each entity will be carried out to assess the impact of these systems on productivity and efficiency. An essential component of this analysis is the comparison of production yields, measured in Kg/ ㎡ , to measure the operational effectiveness of each farm. Additionally, the Feed Conversion Ratio (FCR) of both farms will be examined, providing insight into feed utilization efficiency and its implications for cost management.

This analysis will also include an evaluation of operational efficiency, with a focus on resource utilization, including labor and feed management. Additionally, the sustainability practices implemented by each plantation will be compared, highlighting their approach to environmental management and social responsibility. Finally, the extent of innovation and adoption of technology by each farm will be examined, identifying the role of technological advances in improving shrimp farming practices. This comprehensive benchmarking exercise aims to provide the company.

Shrimp Pond Specifications

Table 8. Pool Specifications at Location

Specification Information	Company X	Company Y
Specification Information	Company X	Company Y
Water Depth (m)	1.20	1.50
Pool area (㎡)	1,175 - 1,424	1,000
Volume (㎥)	1,410 - 1,708	1,500
Density (fried/㎡)	116 - 174	180 - 200
Hatching Place	MS Situbondo	Suri Tani Pemuka (STP)

Source: Company Data (2023)

Company Y's 2-hectare shrimp pond, with six individual ponds located in Pangandaran, West Java, is an interesting case study in the aquaculture industry. Each pool, measuring 1000 square meters and 1.5 meters high, is carefully managed. The farm follows sustainable practices with a focus on water quality and disease prevention. Although Mr. Ajat's efforts experienced initial setbacks during the COVID-19 pandemic, including financial losses and increased mortality rates, his shrimp farming has evolved from traditional shrimp farming practices to be more in line with industry standards. Key improvements include a better approach to water quality management and a commitment to regular water quality testing every three days to ensure compliance with specified parameters.

Comparison of Shrimp Cultivation Systems

Table 9. Comparison of Shrimp Cultivation Systems

Agricultural Systems
Criteria	Intensive Standard	Company X	Company Y
Pool area (Ha)	0.1 - 0.4	0.11 - 0.14	0.1 / pool
Stocking density (Individual/ ㎡ )	60 - 200	116 - 174	180 - 200
Water height (cm)	100 - 150	120	150/pool
Paddle wheel aerator	Ten units/0.1 Ha	9 units; 6 units; 6 units	Ten units/pool
Construction	Soil/HDPE	HDPE	HDPE

Source: Company Data (2023)

In the analysis of the shrimp cultivation system, it is clear that Company Y's shrimp cultivation consistently meets all the established criteria. However, striking differences emerge when comparing it with Company X. Although Company Y's farm complies with or exceeds standards in various aspects, company This comparison highlights the superior performance and management of shrimp farms under Mr. Ajat's leadership compared to Company X.

Comparison of Production Results (Kg/㎡)

Results for Company X were obtained by averaging data from 3 pools over four cycles. Likewise, data for Pak Ajat's shrimp ponds were collected from a comparable sample size of 3 ponds over four cycles. This method was used to ensure an impartial and fair comparison between the two shrimp farming systems.

Table 10. Comparison of Production Results

Period (4 Cycles)	Average pool area (㎡)	Average Density (Individual/㎡)	Average Yield (Kg/㎡)
Company X	1,338	168.67	1.07
Company Y	1,000	189.88	2.53

Source: Calculated Company Data (2023)

Pak Ajat is smaller, with an average area of 1000 ㎡ , while Company X's ponds have an average area of 1338 ㎡ . This shows that Pak Ajat's shrimp farms operate with smaller ponds. Interestingly, Mr. Ajat's pond has a higher average shrimp density, namely 189.88 shrimp per square meter, compared to Company X, which has a density of 168.67 shrimp. This observation implies that Pak Ajat's ponds are efficiently managing denser shrimp populations in each pond. A significant difference lies in the average yield per square meter. Mr. Ajat's shrimp farm achieved an impressive yield of 2.53 Kg/ ㎡ , while Company X was far behind with an average yield of only 1.07 Kg/ ㎡ . Pak Ajat's shrimp farm surpasses that of Company X in terms of shrimp density and, especially, in production yield. Despite operating a smaller pond, Pak Ajat's pond shows much higher shrimp production efficiency. This comparison emphasizes the potential for improved practices and results in Company X's operations, particularly in achieving more significant results.

Feed Conversion Ratio (FCR)

Table 11. FCR Comparison

Period (4 Cycles)	Average FCR (㎡)
Company X	1:1.68
Company Y	1:1.26

Source: Calculated Company Data (2023)

FCR analysis shows that there are significant differences between company X and Mr. Ajat's shrimp farm. Company X has a higher feed consumption per unit of shrimp produced, with an average FCR of 1:1.68. In contrast, Pak Ajat's farm shows efficient conversion of feed to shrimp biomass, with an average FCR of 1:1.26. It is important to note that the results were obtained through a fair comparison approach. Company This objective method evaluates the performance of both shrimp farming systems fairly.

Survival Rate (%)

Table 12. SR Comparison

Period (4 Cycles)	SR Average (%)
Company X	42.84%
Company Y	85.63%

Source: Calculated Company Data (2023)

Survival rate (SR) analysis shows a striking difference between Company X and Mr. Ajat's shrimp farm. Company This low SR is closely related to the company's agricultural cycle problems, including disease outbreaks, water quality problems, and inadequate management practices.

In contrast, Mr. Ajat's farm had an average survival rate (SR) of 85.63%, which was much higher than that of the company that month. Seeding results in all fries surviving until the end of the cycle. This extraordinary scientific report highlights the positive impacts of good disease prevention, water quality management, and diligent farming practices, which distinguish Mr Ajat's farms with outstanding shrimp survival rates and overall performance.

Operational efficiency

Table 13. Comparison of Operational Efficiency

Aspect	Company X	Company Y
Water Usage - High Water Consumption	Relies on groundwater contaminated with agricultural waste. Frequent water changes required due to the absence of IPAL cause increased water consumption and potential waste.	Also takes water from groundwater but implements an IPAL system for water treatment, thereby reducing the need for frequent water changes. Utilize water reservoirs for storage and conservation.
Water Use - Environmental Impact	The use of contaminated groundwater creates environmental problems due to the potential for groundwater contamination.	Display greater environmental awareness by implementing efficient water management practices to minimize pollution risks.
Energy efficiency	The use of paddle wheel aerators is not optimized for dissolved oxygen levels, shrimp density, or water level. Continuously running water pumps cause higher energy consumption.	Prioritize energy efficiency, use modern equipment, and manage energy consumption by controlling the use of aerators based on DOC, shrimp density, and water level.
Feed Utilization Efficiency	Relying on manual feeding methods can lead to over- or under-feeding, as well as inefficient use of resources.	Uses automatic feeders for precise control over feed distribution, minimizing feed waste, and optimizing resource utilization.
Workforce Management	Most rely on manual labor for a variety of routine tasks. Manual labor sometimes needs more commitment, leading to higher turnover rates and increasing recruitment and training costs.	Emphasizes efficient labor management by using automated systems to monitor water quality and feed and hire feeder employees.

Source: Author (2023)

CONCLUSION

In conclusion, a comprehensive comparison between Company X and Company Y across various operational dimensions highlights several critical areas for improvement and strategic adaptation for the company. By implementing similar practices, specifically implementing advanced water treatment systems, energy-saving technologies, automated feeding, and effective workforce management strategies, Company X can significantly improve the efficiency and sustainability of its operations. These improvements are essential not only to remain competitive in the shrimp farming industry but also to drive a more sustainable and cost-effective operational model.

REFERENCES

Aisyah, D., Ramadhani, A. W., Fattah, M., Sofiati, D., & Anandya, A. (2023). Pengaruh Kelimpahan Plankton Dan Kualitas Air Terhadap Performa Pertumbuhan Udang Vanname Pada Sistem Budidaya Intensif. Jurnal Lemuru, 5(2), 173ï¿½182.

Amelia, F., Yustiati, A., & Andriani, Y. (2021). Review of shrimp (Litopenaeus vannamei (Boone, 1931)) farming in Indonesia: Management operating and development. World Scientific News, 158, 145ï¿½158.

Amrillah, A. M., Widyarti, S., & Kilawati, Y. (2015). Dampak stres salinitas terhadap prevalensi White Spot Syndrome Virus (WSSV) dan survival rate udang vannamei (Litopenaeus vannamei) pada kondisi terkontrol. Research Journal of Life Science, 2(2), 110ï¿½123.

Garno, Y. S., Pranoto, P., & Komarawidjaja, W. (1995). Menyelamatkan kehancuran industri budidaya udang dari degradasi ekosistem tambak. Publikasi Ilmiah Menuju Era Teknologi Hijau. Buku 1: Masalah Lingkungan dan Pengelolaannya.. Jakarta.

Ir H Suharno Prawiro, M. M. (2023). Jalan Keluar. Nas Media Pustaka.

Murti, S., & Heryanto, H. (2020). Relevansi Prestasi Belajar Sebagai Prediktor Perilaku Empati Di SMA Negeri 5 Samarinda. Jurnal Ilmiah Wahana Pendidikan, 6(3), 295ï¿½307.

Notohamijoyo, A. (2023). Reaktualisasi Poros Maritim. MCL Publisher.

Rejeki, S., Aryati, R. W., & Widowati, L. L. (2019). Pengantar akuakultur. Undip Press.

Sampantamit, T., Ho, L., Lachat, C., Sutummawong, N., Sorgeloos, P., & Goethals, P. (2020). Aquaculture production and its environmental sustainability in Thailand: Challenges and potential solutions. Sustainability, 12(5), 2010.

Sivaraman, I., Krishnan, M., & Radhakrishnan, K. (2019). Better Management Practices for sustainable small-scale shrimp farming. Journal of Cleaner Production, 214, 559ï¿½572.

Sutrisno, N. (2022). Kesesuaian Tambak Untuk Budidaya Udang Vaname (Litopenaeus Vannamei) Salinitas Rendah Dari Aspek Kualitas Air Dan Tanah Di Desa Purworejo, Kecamatan Pasir Sakti, Kabupaten Lampung Timur. Universitas Lampung.

Tosi, I. D., Oedjoe, M. D. R., & Rebhung, F. (2023). Tepung rumput laut Sargassum sp. sebagai pakan tambahan bagi ikan kerapu cantang (Epinephelus fuscoguttatus-lanceolatus). Jurnal Aquatik, 6(2), 13ï¿½23.

Usman, S., Masriah, A., & Jamaluddin, R. (2022). Pengaruh Padat Tebar Terhadap Kelangsungan Hidup dan Pertumbuhan Post Larva Udang Vaname (Litopenaeus vannamei) yang Dipelihara pada Wadah. FISHIANA Journal of Marine and Fisheries, 1(1), 21ï¿½32.

Windasai, W., Said, M. M., & Hayat, H. (2021). Peran Pemerintah Daerah Dalam Pemberdayaan Masyarakat Nelayan. Jurnal Inovasi Penelitian, 2(3), 793ï¿½804.

Yulisti, M., Mulyawan, I., Deswati, R. H., & Luhur, E. S. (2021). Dampak Sertifikasi CBIB Terhadap Efisiensi Teknis Pada Budidaya Tambak Udang Vannamei. Jurnal Sosial Ekonomi Kelautan Dan Perikanan, 16(1), 89ï¿½102.

Yustiati, A., & Andriani, Y. (2022). Budidaya udang vanname Pembesaran Udang Vannamei Pada Berbagai Sistem Akuakultur: Telaah Pustaka. Journal of Fish Nutrition, 2(1), 26ï¿½36.

ï¿½ 2024 by the authors. Submitted for possible open access publication under the terms and conditions of the Creative Commons Attribution (CC BY SA) license (https://creativecommons.org/licenses/by -sa /4 .0/).