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Analysis of Working Capital Management in Improving Corporate Profitability Heskyel Pranata Tarigan; Fitri Khofifah
Journal of Applied Financial Management Vol. 2 No. 1 (2026): Juni
Publisher : Universitas Dehasen Bengkulu

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.37676/jafm.v2i1.1712

Abstract

Effective working capital management is a crucial aspect of corporate financial management, as it directly influences a company's liquidity, operational efficiency, and profitability. This study aims to analyze the role of working capital management in improving corporate profitability by examining the relationship between key working capital components, including accounts receivable, inventory, accounts payable, and the cash conversion cycle, with profitability indicators. The study adopts a quantitative research approach using secondary data obtained from the financial statements of selected companies over a specified period. Data are analyzed using descriptive statistics and multiple regression analysis to determine the effect of working capital management on corporate profitability. The findings indicate that efficient working capital management significantly contributes to higher profitability by reducing unnecessary financing costs, improving cash flow, and enhancing operational performance. In particular, a shorter cash conversion cycle and optimal management of receivables and inventory are associated with improved financial performance. The study concludes that companies should implement effective working capital management strategies to maintain financial stability and maximize profitability in an increasingly competitive business environment. The findings are expected to provide valuable insights for corporate managers, investors, and policymakers in formulating financial management strategies that support sustainable business growth.
Enggano As A Hidden Paradise: STP Analysis For Formulating Sustainable Tourism Marketing Strategies Fitri Khofifah; Heskyel Pranata Tarigan
Journal of Multidisciplinary Research Vol. 2 No. 2 (2026): January
Publisher : Utami Publisher

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.70963/jmr.v2i2.528

Abstract

Enggano Island is one of Indonesia’s outermost islands, endowed with rich natural resources, unique cultural heritage, and significant potential for ecotourism development. Despite these advantages, Enggano remains underrecognized in both national and international tourism markets and is less popular compared to similar destinations such as the Mentawai and Siberut Islands. This study aims to analyze the key issues surrounding Enggano’s tourism sector and to propose relevant marketing strategies through the application of the Segmentation, Targeting, and Positioning (STP) framework. The research employs a literature-based and descriptive analysis approach, utilizing secondary data from various sources related to tourism potential, infrastructure conditions, and global tourism trends. The findings reveal that the main challenges include limited accessibility, inadequate digital promotion, and weak integration with international tourism markets. The proposed strategy is to position Enggano as an exclusive ecotourism destination targeting international travelers seeking authentic nature-based experiences, biodiversity research, and sustainable adventure tourism. Through the effective implementation of STP, Enggano Island has the potential to enhance its visibility in the global tourism landscape while simultaneously contributing to sustainable regional economic development.