The fast-paced evolution of the business world today requires business players to work diligently to maintain their competitive advantage. To enhance a company's competitive edge, strategic business planning is essential. A well-developed business strategy allows a company to achieve the best market position, improve sales performance, and define approaches to gain a competitive advantage. CV Cita Nasional, a company located in Indonesia that manufactures a pasteurized milk, faces business strategy issues, including declining revenue. This study aims to analyze the internal factors using value chain analysis and external factors using PESTEL Analysis, followed by the formulation of business strategies through SWOT Analysis, and the establishment of strategic priorities using QSPM. Data for this research were collected through interviews and questionnaires, with participation from stakeholders including the plan manager, production and quality control managers, administrative and personnel manager, finance and treasury manager, production and quality control supervisors, production process supervisor, and purchasing and warehouse supervisor. The internal factor analysis using value chain analysis revealed 29 strengths and 7 weaknesses, while the external factor analysis using PESTEL identified 11 opportunities and 8 threats. The strategy formulation using the SWOT matrix resulted in 7 alternative strategies, including 2 SO strategies, 2 WO strategies, 2 ST strategies, and 1 WT strategy. The QSPM method was used to prioritize strategies, with Strategy 1 ("Maintaining the stability of current product prices and improving product quality") achieving the highest value.