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All Journal Dynamic Management Journal Jurnal Comparative : Ekonomi Dan Bisnis
Herlan, Hasta
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Decision Sciences, Operations Research & Management Economics, Econometrics & Finance Other

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Journal : Dynamic Management Journal

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MERGER AND BUSINESS CONSOLIDATION AMONG INDONESIAN’S BUMN KARYA : A STRATEGY TO AVOID FINANCIAL DISTRESS AND STRENGTHENING CAPITAL FOR LONG-TERM SUSTAINABILITY Andriani, Ria; Tambunan, Diana; Warsono, Warsono; Herlan, Hasta
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.v8i4.12714

Abstract

This study aims to analyze the strategic mergers proposed by the BUMN Ministry, focusing on the mergers of PT Hutama Karya with PT Waskita Karya, PT Adhi Karya with PT Nindya Karya, and PT Wijaya Karya with PT Pembangunan Perumahan. Using a descriptive research approach, the study employs quantitative analysis to evaluate financial compatibility and operational synergies among the companies involved. The findings reveal that the merger of Adhi Karya and Nindya Karya emerges as the most advantageous option, effectively combining Adhi's liquidity challenges with Nindya's strong revenue generation capabilities. Additionally, merging PT Waskita Karya with PT Hutama Karya could provide vital resources to address Waskita's financial struggles, contingent on Hutama Karya’s capacity to manage these challenges effectively. The merger of PT Wijaya Karya with Pembangunan Perumahan shows promise in leveraging Pembangunan's stability to enhance Wijaya's financial performance. In conclusion, the proposed mergers present a strategic opportunity to enhance financial stability, operational efficiency, and market competitiveness. Merging PT Pembangunan Perumahan with PT Nindya Karya capitalizes on both companies' financial strengths, while the pairing of PT Waskita Karya and PT Adhi Karya facilitates resource pooling to improve operational performance. Lastly, the merger of PT Wijaya Karya with a smaller, agile company can help mitigate its liquidity issues while harnessing the strengths of a dynamic partner. Recommendations emphasize the importance of conducting thorough due diligence to assess financial compatibility, cultural alignment, and operational synergies before finalizing mergers. Establishing clear strategic goals and integration plans is essential for ensuring successful transitions. Ongoing monitoring and evaluation post-merger will be crucial for adapting strategies and driving sustained growth and profitability in the newly formed entities.with stakeholders will be key to rebuilding trust and securing the company’s future.
MAPPING THE INFLUENCE: A CONCEPTUAL MODEL OF BRAND REPUTATION, INFLUENCER MARKETING, ORGANIZATIONAL AGILITY, STRATEGIC LEADERSHIP, AND BUSINESS PERFORMANCE Andriani, Ria; Heirunissa, Heirunissa; Harun, Muhamad; Herlan, Hasta
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.v9i2.13862

Abstract

This study proposes a conceptual model that integrates brand reputation, influencer marketing, and organizational agility in driving business performance, with strategic leadership as a moderating variable. The study is motivated by the need for organizations to adapt to rapid market changes. The method employed is a systematic review of journal articles indexed in SINTA, Google Scholar, and Scopus, as well as relevant industry reports. The results indicate that brand reputation and influencer marketing have a positive influence on organizational agility, which in turn mediates the improvement of business performance through enhanced responsiveness and operational efficiency. Furthermore, strategic leadership strengthens the relationship between organizational agility and business performance by effectively leveraging market dynamics. The findings highlight the importance of synergy between brand reputation management, ethical implementation of influencer marketing, and the reinforcement of organizational agility to achieve sustainable business performance, particularly among SMEs in Indonesia. The study's limitation lies in its reliance on secondary data, suggesting that future research should involve field studies for model validation.
STRATEGIC FINANCIAL MANAGEMENT: TEMASEK HOLDINGS AS DANANTARA’S BENCHMARK FOR BUILDING NATIONAL WEALTH AND SUSTAINABLE DEVELOPMENT Sazly, Syukron; Erri, Dirgahayu; Tambunan, Diana; Herlan, Hasta
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.v9i4.15131

Abstract

This study highlights the urgency of strategic and sustainable national wealth management through the establishment of Danantara, Indonesia’s sovereign wealth fund that adopts the successful model of Temasek Holdings in Singapore, yet operates within a more complex national economic and political context. The purpose of this research is to analyze Danantara’s strategic factors using the SWOT approach, formulate strategies based on the TOWS matrix, and provide policy recommendations aligned with the Indonesia Emas 2045 vision. The research employs a qualitative analysis through a comparative study, literature review, and examination of official documents. The findings reveal Danantara’s strengths in asset scale and political support but weaknesses in governance and operational capacity. The study’s contribution and novelty lie in formulating portfolio separation strategies, strengthening independent governance, and focusing investments in digital sectors, green energy, and global partnerships.
Co-Authors Diana Tambunan Dirgahayu Erri Heirunissa, Heirunissa Muhamad Harun Ria Andriani Sazly, Syukron Warsono Warsono