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Journal : Dynamic Management Journal

DIGITAL BUSINESS TRANFORMATION: THE ULTIMATE STRATEGY OF PT. PLN (PERSERO) IN BOOSTING BUSINESS PERFORMANCE AND AVOIDING FINANCIAL DISTRESS Sazly, Syukron; Al Rasyid, Harun; Tri Indah K, Agus
Dynamic Management Journal Vol 8, No 4 (2024): October
Publisher : Universitas Muhammadiyah Tangerang

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.31000/dmj.v8i4.12584

Abstract

This study investigates the financial distress of PT PLN (Persero), Indonesia's state-owned electricity provider, from 2019 to 2023 using the Springate S-Score method. Despite implementing digital business transformation and human resource development initiatives to enhance operational efficiency and service quality, PLN faces ongoing financial challenges. These challenges stem from high debt levels incurred due to the company's ambitious 35,000 MW power expansion project, as well as persistent cash flow difficulties. The study analyzes key financial indicators such as the debt-to-equity ratio, cash flow issues, and operational inefficiencies, tracking the company's fluctuating financial health. The Springate S-Score results indicate significant financial distress in 2021, reflecting the peak of PLN's financial pressures. However, improvements are observed in 2022 and 2023, signaling a gradual recovery as a result of cost-cutting measures and strategic adjustments. Based on the findings, the study recommends that PLN focus on reducing capital expenditures, renegotiating debt terms, and enhancing financial management practices. These measures are designed to stabilize the company’s financial position and improve its long-term sustainability, particularly as the energy sector continues to evolve with increasing demands for efficiency and renewable energy solutions. This study further emphasizes the impact of PLN’s operational inefficiencies, which have compounded its financial difficulties. The company's reliance on external financing has increased its vulnerability to debt servicing pressures. Additionally, the fluctuating energy prices and challenges in maintaining consistent revenue streams have added to its financial strain. By addressing these core issues, PLN can improve its resilience and adapt to the evolving energy landscape, ensuring both financial stability and operational sustainability in the long term. The recommendations provided aim to balance the need for infrastructure development with financial prudence, positioning PLN for a more secure future.Keywords: Business Transformation ,Financial Distress, Bankruptcy
A TRIAD OF EXCELLENCE: HOW STRATEGIC LEADERSHIP, INTELLECTUAL CAPITAL AND IT INNOVATION DRIVE COMPETITIVE ADVANTAGE IN HIGHER EDUCATION INSTITUTIONS Sazly, Syukron; Al Rasyid, Harun; Tri Indah K, Agus
Dynamic Management Journal Vol 9, No 2 (2025): April
Publisher : Universitas Muhammadiyah Tangerang

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.31000/dmj.v9i2.13819

Abstract

This study analyzes the determinants of sustainable competitive advantage through the Resource-Based View (RBV) approach, focusing on strategic leadership, intellectual capital, and technological innovation. The qualitative method was applied through a systematic review of 27 selected literature (Scopus and nationally accredited). The results reveal: (1) strategic leadership plays a role as a guide for long-term vision, (2) intellectual capital (knowledge, skills, innovation) becomes irreplaceable assets, and (3) technological innovation increases productivity, product differentiation, and market adaptation. The interaction of the three creates a sustainable competitive ecosystem. This research contributes theoretically to the development of strategic and practical management as a business guide in the digital era. Recommendations for further research include the expansion of variables (organizational culture, business networking, dynamic capabilities) and the application of mixed methods. These findings underscore the importance of inter-factor synergy in building a competitive advantage that is resistant to disruption.
FROM LOCAL CHAMPION TO GLOBAL PLAYER: A SWOT ANALYSIS AND STRATEGIC ROADMAP FOR ELEVATING BANK SYARIAH INDONESIA INTO THE TOP 3 GLOBAL ISLAMIC BANK BY 2030 Indah K, Agus Tri; Al Rasyid, Harun; Sazly, Syukron
Dynamic Management Journal Vol 9, No 4 (2025): October
Publisher : Universitas Muhammadiyah Tangerang

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.31000/dmj.v9i4.15118

Abstract

Bank Syariah Indonesia (BSI) is the result of a merger between three national Islamic banks and holds strong potential to become a global player. However, as of 2024, BSI remains outside the top three global Islamic banks, with total assets of USD 25 billion, lagging behind Al Rajhi Bank, KFH, and DIB. This study aims to analyze BSI's position using a SWOT approach and to evaluate its performance through RGEC indicators (Risk Profile, Good Corporate Governance, Earnings, Capital) and the Global Composite Index. A descriptive qualitative method was employed, including literature review, financial report analysis (2020–2024), and benchmarking against 10 global Islamic banks. Results show BSI is in a sound financial position, with an NPF of 2.2%, ROA of 1.4%, and CAR of 19.3%, but has a relatively low Global Composite Index score (52/100) compared to Al Rajhi (89/100) and KFH (84/100). Recommended strategies include regional expansion, digital transformation, and strengthening capital through global investors. Limitations include restricted access to internal data and comparative benchmarking.
Co-Authors Agus Tri Indah K Aisyah Aisyah Al Ghozi, Haidarul Ghalib Alawiyah, Sofy Amalia Suzianti Anungputri, Pramita Sari Anwar, Syuhaila Aqila Aqila, Aqila Araminta, Mita Permatasari Arisandi, Dimas Ferdian Arrahma, Nabila Aulia , Rachmat Aulia, Ashrafah Alaifhi Boy Nurtjahyo Damayanti, Ria Darus, Aliya Fatma Ulfani Denny Erica DEWI SARTIKA Diah Zakiah Djajalaksana, Susanthy Erdi Suroso Eviana Norahmawati Fadli, Muhammad Luqman Faturrohman, Dani Fauzi, Aqshal Fibra Nurainy Fitriana, Elly Gajah, Azizah Sabrina Handono Kalim Hasibuan, Ernida Hasibuan, Khoirul Amru Hasibuan, Nurul Huda Hayati, Devi Humaira Helmi Ridho, Muhammad Holipah, Holipah Husnul Khotimah, Muti Imam, Cecilia Widijati Indraningtyas, Lathifa Indriati, Sukma Ivlatia, Siti Mahrami K, Khairunnisa Kamaluddin Kamaluddin Khusnah, Lailatul Kurniawan, Gladys Lestari, Mia Dwi Listyoko, Aditya Sri Lolita, Nona Lukman Hakim Maulana, Arjuna Dwi Muhammad Anshory, Muhammad Muhammad Nur Nadiyyana, Siti Ningrum, Kurnia Kristiya Nurul Hartini Nyoman Artha Megayasa, Nyoman Artha Otik Nawansih Perdana, Yudha Pohan, Selamat Pranoto, Bono Pratiwi, Suryanti Dwi Putra, Ngakan Putu Parsama Putri, Bella Tiara Rahmayanti, Fida Ramadhan, Fitratul Ritonga, Dinda Nur Annisa Rusdiansyah Rusdiansyah Sabrina Aulia Rahma Safitri, Diyah Ayu Safitri, Linda Santoso, Agus Andreas Sari, Nadyra Sary, Linda Mareta Sazly, Syukron Setyawan, Ungky Agus Shinta Puspitarani, Karina Sitorus, Nurul Jumadissaniyah Soekarno, Hari Sony Agung Santoso, Sony Agung Sri Budhi Rianawati, Sri Budhi Sri Hidayati Stephanie Rengkung, Stephanie Sudono, Irfan Sugiri, Yani Jane Suryanto Sosrowidigdo Tanto Pratondo Utomo Teguh Setiawan Thontowi Djauhari Tiranda, Monica Florenza Udin Hasanudin Ulfianty, Adinda Saskia Salsabila Wahono, Cesarius Singgih Wahyuni, Shelly Wandana, Nina Wijaya, Emerson Suta Wisnu Satyajaya Yudhanto, Hendy Setyo Yuliandari, Puspita