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All Journal Jurnal Manajemen dan Agribisnis Indonesian Journal of Business and Entrepreneurship (IJBE) Jurnal Aplikasi Bisnis dan Manajemen (JABM) E-Journal JIMFE (Jurnal Ilmiah Manajemen Fakultas Ekonomi) Business Review and Case Studies Multidiciplinary Output Research for Actual and International Issue (Morfai Journal) Jurnal Pusat Inovasi Masyarakat
Suhendi
School Of Business, IPB University
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Business Valuation Transformation of Innovative Products Through Scenario Analysis (Case Study: Sakasea) Nurhakim Siswanto; Nimmi Zulbainarni; Suhendi
Jurnal Aplikasi Bisnis dan Manajemen Vol. 12 No. 1 (2026): JABM, Vol. 12 No. 1, January 2026
Publisher : School of Business, Bogor Agricultural University (SB-IPB)

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.17358/jabm.12.1.340

Abstract

Background: Valuing early-stage innovative products is challenging because limited operating history makes valuation highly sensitive to uncertainty in market uptake and production scale, particularly under tight competition. Sakasea currently operates below its break-even scale, resulting in negative cash flows under baseline conditions. This study applies a single-case design to Sakasea using internal operational and financial records to conduct baseline valuation and scenario-based projections.Purpose: This study aims to demonstrate how scenario-based analysis can transform the valuation of an innovative food product, Sakasea, from an initially unfeasible condition into a feasible and profitable business projection.Design/methodology/approach: A quantitative single-case study was applied (n = 1, Sakasea). Baseline (actual) valuation was conducted using eight financial feasibility indicators (R/C Ratio, ROI, BEP, NPV, IRR, BCR, PI, and Payback Period) based on internal operational and financial records. Two scenario projections (Realistic and Optimistic) were then constructed by adjusting the key driver of production and sales volume over a five-year horizon, followed by re-evaluation using the same indicators.Findings/Result: The actual (baseline) valuation indicates financial infeasibility (NPV = IDR –583,427,867; BCR = 0.17; IRR = N/A due to negative cash flows; Payback Period not achieved). Under the Realistic scenario, the valuation becomes feasible (NPV = IDR 188,085,414; IRR = 36.27%; BCR = 1.27; Payback Period = 1.49 years). Under the Optimistic scenario, feasibility improves further (NPV = IDR 682,595,444; IRR = 46.69%; BCR = 1.52; Payback Period = 0.57 years).Conclusion: Static valuation based solely on initial operations may underestimate early-stage innovations. Scenario-based valuation provides a forward-looking assessment by illustrating how feasibility changes as production scale increases beyond the break-even threshold.Originality/value (State of the art): This study provides empirical evidence on scenario-based valuation of an early-stage functional food innovation by quantifying how key feasibility indicators (NPV, IRR, BCR, and payback period) shift from baseline to scale-up conditions, thereby identifying the production scale required for financial viability. Keywords:  business valuation, discounted cash flow, financial feasibility, innovative product, scenario analysis
THE STRATEGIC POSITION OF BRIN'S BUSINESS INCUBATOR SERVICE AS A CATALYST FOR NATIONAL RESEARCH AND INNOVATION DOWNSTREAMING: AN INTEGRATED MCKINSEY 7S, PESTEL, AND SWOT ANALYSIS Arif Ardiawan; Siti Jahroh; Suhendi
Multidiciplinary Output Research For Actual and International Issue (MORFAI) Vol. 6 No. 2 (2026): Multidiciplinary Output Research For Actual and International Issue
Publisher : RADJA PUBLIKA

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.5281/zenodo.18464146

Abstract

This article analyzes the strategic position of the Business Incubation Service (LIB) at the National Research and Innovation Agency (BRIN) as a catalyst for the downstreaming of national research and innovation by integrating McKinsey 7S, PESTEL, and SWOT frameworks. This descriptive qualitative study uses primary data from observations and in-depth interviews with LIB BRIN managers, tenants, other incubator managers, and venture capitalists, as well as secondary data from official documents and policies related to research downstreaming. The PESTEL analysis reveals opportunities against the backdrop of threats from regulatory dynamics, fiscal pressures, and low national technological readiness, such as BRIN’s potential as an orchestrator of national technology incubators, a large and diverse domestic market, green economy trends, and ease of global networking. Through McKinsey 7S, LIB BRIN is identified as having strategic strengths such as relatively stable funding from research endowment funds, broad access to research resources, a focus on research-based incubation, and a strong identity as a research-based incubator. However, it still faces weaknesses, including the lack of dedicated incubation buildings, gaps in business mentor human capital competencies, limited ease of research access for entrepreneurs, and an immature service system. Integrating the 7S and PESTEL findings into a SWOT analysis shows that LIB BRIN’s strengths and opportunities outweigh its weaknesses and threats, indicating that the institution possesses strategic capital to strengthen its role in research downstreaming, with implications for the need to enhance governance, improve human capital capacity, develop supporting infrastructure, and mature a network-based incubation model with cross‑institutional collaboration.
Co-Authors Agustian Burda Ani Nuraisyah Arif Ardiawan Asaduddin Abdullah Asep Taryana Dhea Dasa Cendekia Zairin Erliza Noor Fuad Wahdan Muhibuddin Halimah Zatalini Hamzah Hamzah Hamzah Idqan Fahmi Muchamad Bachtiar Naura Rahmalia Nimmi Zulbainarni Nurhakim Siswanto Raden Isma Anggraini Shalihati, Fithriyyah Siti Jahroh Yudha Heryawan Asnawi