Jurnal Bisnis dan Kajian Strategi Manajemen Volume 6 Nomor 1, 2022 ISSN : 2614-2147 17 INDONESIA'S HONEY COMPETITION STRATEGY: A NEW INSTITUTIONAL ECONOMICS ANALYSIS Muhammad Fauzi a, Awang Saputra b a, Institut Teknologi dan Bisnis Ahmad Dahlan Jakarta b Universitas Muhammadiyah Jakarta Corresponding author: ojixzy1979@gmail.com ABSTRACT Honey product is one type of product that provides many economic and health benefits so that it is in great demand by all citizens of the world, even animals. There is a gap between production and consumption globally so that every country competes to increase its production not only for domestic needs but also to meet world demand for honey products. There are still many honey producers whom individuals or families manage so that the volume produced is still minimal, either for own consumption or directly sold to consumers. To meet global honey needs, the interests of medium-large companies are essential but still empower honey producers or individual honey farmers. The study aims to maintain its commitment to quality and halalness and corporate analysis strategy following the new institutional economics approach. This study uses descriptive qualitative research using literature studies. The study results found that the company is very committed to product quality assurance and halalness and implementing the company's strategy at level 4 as new institutional economics, namely economic order 3 with resource efficiency, the formation of marginal prices and structures, and business sustainability. Keywords: Honey, Corporation Strategy, New Institutional Theory INTRODUCTION Honey is a product produced by bees which is very good for the benefit of all living things. Naturally able to provide alternatives as consumption to maintain health so that it needs to be preserved both in terms of production and management so that in the long term it can be available. Another side honey is containing a high-calorie, easy-to-digest product that is used as food and natural medicine. Honey is used to make soaps and cosmetics and make medicines that are applied directly to wounds and burns. It helps fight infection, promotes tissue regeneration and reduces scarring in its raw, unprocessed form. Honey is one of the forest products which is a leading sector, with a land area of about 200 million hectares and a forest area of 143 million hectares so that Indonesia has natural resources in the form of large areas of land for the development of the honey industry in the future (Novandra & Widnyana, 2013). With 115 types of nectar plants suitable for the development and renewal of beekeeping, which is rich in flower plant diversification and the potential for year-round honey production with the Apis dorsata bee species weakest honey in Asia which is the most productive to produce honey. Some regions are well-known for producing honey in Indonesia, including in Sumbawa, East of Nusa Tenggara, and parts of Java, with the export value of honey in 2020 recorded at US$ 75,484,057.30, which provides good economic value for beekeepers (BPS, 2021). Competition in the blending business in Indonesia is getting better with the provision of top brands to companies committed to customers so that the domestic honey market can