This research aims to identify costs, revenues and incomes of Cap Bawang Soy Sauce Company, critical success factors (Strengths, Weaknesses, Opportunities and Threats) of Cap Bawang Soy Sauce Company, alternative strategies and priority of business development strategies that can be applied to soybean sauce production in Cap Bawang Soy Sauce Company. This research uses descriptive analytical basis. Research locations selected intentionally (purposive) in Cap Bawang Soy Sauce Company at Ngawi Regency. Determination of the key informant intentionally (purposive), the owner and employees of the company, employee Disperindagkop Ngawi, customers, suppliers and resellers of Cap Bawang Soy Sauce. This research uses primary and secondary data. Data analysis techniques use: (1) Analysis of costs, revenues and incomes, (2) IFE and EFE Matrix, (3) Quantitative SWOT Matrix, (4) Qualitative SWOT Matrix, (5) QSPM. The results showed the company's cost in 2015 amounted Rp. 803,803,450.00, the company’s revenues amount to Rp. 924,048,000.00, and the company's incomes Rp. 120,244,550.00. The values of IFE score are 0.7229 and EFE score are 0.8388 is showing the position of Cap Bawang Soy Sauce Company were in the first quadrant on Quantitative SWOT Matrix. Qualitative SWOT Matrix produces several alternative strategies by combining the Strengths and Opportunities of the company. The highest Value TAS (Total Attractive Score) of QSPM is 6.8271 that is the priority of the strategy to make the diversification of packaging products.