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ANALISIS DIMENSI ETIKA DALAM PRAKTIK BISNIS SEBAGAI PILAR GOOD CORPORATE GOVERNANCE Dian Aulya Utami; Cindy Cindy; Heri Yunus; Azhela Dwi Aryani; Ahmad Wahyudi Zein
JURNAL ILMIAH EKONOMI DAN MANAJEMEN Vol. 4 No. 1 (2026): Januari
Publisher : CV. KAMPUS AKADEMIK PUBLISING

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.61722/jiem.v4i1.8255

Abstract

This study aims to analyze the dimensions of ethics in business practices and their role as a fundamental pillar of Good Corporate Governance (GCG). The background of this research is based on the increasing complexity of modern business practices, which often give rise to moral dilemmas and ethical violations due to weak ethical implementation. This research employs a qualitative approach using a library research method, with data sources consisting of textbooks, national and international journal articles, and relevant scholarly documents related to business ethics and GCG. Data analysis was conducted through content analysis to examine concepts, principles, and the relationship between ethical dimensions and the implementation of good corporate governance. The findings indicate that business ethics plays a crucial role in shaping individual, professional, and corporate behavior and serves as a moral foundation for implementing the principles of Good Corporate Governance, including transparency, accountability, responsibility, independence, and fairness. This study concludes that the successful implementation of GCG depends not only on formal regulations and systems but also on the internalization of ethical values as a sustainable organizational culture to promote integrity and long-term business sustainability.
PERAN GOOD CORPORATE GOVERNANCE DALAM MENCEGAH PRAKTIK FRAUD Dina Ismaini; Rahmad Badri Jambi; Inal Syahputra; Karin Aribi Ivanka; Ahmad Wahyudi Zein
JURNAL ILMIAH EKONOMI DAN MANAJEMEN Vol. 4 No. 1 (2026): Januari
Publisher : CV. KAMPUS AKADEMIK PUBLISING

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.61722/jiem.v4i1.8256

Abstract

Fraud is a serious issue that can disrupt the stability, credibility, and sustainability of organizations, particularly in corporate and financial sectors. Numerous fraud cases indicate that weak internal control systems and ineffective implementation of good corporate governance are major contributing factors to fraudulent practices. This study aims to analyze the role of Good Corporate Governance (GCG) in preventing fraud through a theoretical review and document-based analysis of relevant scholarly sources. The research employs a qualitative approach using library research or document analysis, drawing data from textbooks, national and international academic journals, regulatory frameworks, and previous research reports. The findings reveal that the implementation of GCG principles—namely transparency, accountability, responsibility, independence, and fairness—plays a significant role in strengthening internal control systems and fostering an integrity-based organizational culture. Good Corporate Governance functions not only as a regulatory framework but also as a preventive mechanism capable of reducing opportunities, pressures, and rationalizations that lead to fraud. Therefore, this study concludes that consistent and comprehensive implementation of Good Corporate Governance is a strategic instrument in fraud prevention and serves as a crucial foundation for establishing sound and sustainable organizational governance.  
PENERAPAN GOOD CORPORATE GOVERNANCE SEBAGAI UPAYA PENINGKATAN KINERJA DAN KEBERLANJUTAN PERUSAHAAN DI INDONESIA Syahrul Tanjung; Nanda Meyshinta; Amelia Sri Ningsih; Aditya Kurniawan; Ahmad Wahyudi Zein
JURNAL ILMIAH EKONOMI DAN MANAJEMEN Vol. 4 No. 1 (2026): Januari
Publisher : CV. KAMPUS AKADEMIK PUBLISING

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.61722/jiem.v4i1.8257

Abstract

This study aims to analyze the implementation of Good Corporate Governance (GCG) as an effort to enhance corporate performance and sustainability in Indonesia. The research employs a qualitative approach using a literature review method by examining various written sources, including academic journals, books, research reports, and relevant official documents related to corporate governance. The findings indicate that the consistent application of GCG principles—namely transparency, accountability, responsibility, independence, and fairness—plays a strategic role in strengthening corporate governance systems. Effective GCG implementation improves the quality of managerial decision-making, reinforces internal control mechanisms, and increases stakeholder trust, which positively affects both financial and non-financial corporate performance. However, the implementation of GCG in Indonesia still faces several challenges, such as weak law enforcement, organizational cultures that do not fully support good governance practices, and the dominance of certain interests within corporate ownership structures. Therefore, the success of GCG implementation requires strong commitment from top management, internalization of governance values within corporate culture, and active regulatory oversight to ensure sustainable and competitive corporate development.  
KONSEP DAN RUANG LINGKUP GOOD CORPORATE GOVERNANCE Moventa Alfredo; Rilla Masyita; Vania Khairunisa Lubis; Ahmad Wahyudi Zein
JURNAL ILMIAH EKONOMI DAN MANAJEMEN Vol. 4 No. 1 (2026): Januari
Publisher : CV. KAMPUS AKADEMIK PUBLISING

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.61722/jiem.v4i1.8258

Abstract

This study aims to analyze the concept and implementation of Good Corporate Governance (GCG) and its relevance in addressing agency conflicts through theoretical review and the Enron case study. The research employs a library research method, examining theories, regulations, and literature related to GCG. Data were analyzed qualitatively and descriptively to understand how the principles of transparency, accountability, responsibility, independence, and fairness function to prevent governance misconduct. The findings indicate that consistent implementation of GCG strengthens public trust, enhances managerial accountability, and prevents financial manipulation, as demonstrated by the Enron scandal. This study highlights the necessity of strengthening corporate governance to create sustainable value and reduce financial and operational risks.
KAJIAN KUALITATIF TEORI-TEORI GOOD CORPORATE GOVERNANCE DALAM TATA KELOLA PERUSAHAAN Putri Wahyuni; Afni Haryanti Harahap; Risa Lidia Batubara; Ahmad Wahyudi Zein
JURNAL ILMIAH EKONOMI DAN MANAJEMEN Vol. 4 No. 1 (2026): Januari
Publisher : CV. KAMPUS AKADEMIK PUBLISING

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.61722/jiem.v4i1.8259

Abstract

Good Corporate Governance (GCG) is a crucial aspect of Islamic banking management because Islamic banks are not only focused on financial performance but also must ensure compliance with Islamic principles. This article aims to examine theories of Good Corporate Governance and their relevance to the implementation of Islamic banking governance. The research method used is a literature review, reviewing books and journal articles related to GCG and Islamic banking. The results of the study indicate that Agency Theory, Stewardship Theory, Stakeholder Theory, Transaction Cost Theory, Political Theory, and Resource Dependency Theory complement each other in building a transparent, accountable, and equitable Islamic banking governance system. The implementation of Good Corporate Governance can increase public trust and support the sustainability of Islamic banking.
BUDAYA ORGANISASI DALAM PERSPEKTIF GOOD CORPORATE GOVERNANCE Siti Nurhaliza; Dewarni Siregar; Habibul Akhir; Ahmad Wahyudi Zein
JURNAL ILMIAH EKONOMI DAN MANAJEMEN Vol. 4 No. 1 (2026): Januari
Publisher : CV. KAMPUS AKADEMIK PUBLISING

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.61722/jiem.v4i1.8261

Abstract

Organizational culture is a fundamental element that plays a crucial role in supporting the effectiveness of organizational governance, particularly in the implementation of Good Corporate Governance  (GCG) principles. Organizational culture not only reflects the values and norms adopted by an organization but also shapes the behavior, attitudes, and decision-making patterns of its members. This study aims to examine the concept of organizational culture, its existence within organizations, as well as its objectives and functions in improving organizational performance and effectiveness. The research method employed is a literature review by analyzing relevant books and scientific journals related to organizational culture and GCG. The findings indicate that a strong, adaptive, and ethically grounded organizational culture is capable of creating internal stability, enhancing employee commitment, and supporting the implementation of good governance practices. Therefore, strengthening organizational culture is a strategic necessity in realizing sustainable and integrity-based organizations.  
Peran Pemerintah dalam Menjaga Stabilitas Ekonomi Makro di Tengah Krisis Energi Ahmad Wahyudi Zein; Ayla Rizki Janira; Indah Amelia; M. Farhan Aulia Rozan; Nia Rahmadhani
JURNAL ILMIAH EKONOMI DAN MANAJEMEN Vol. 4 No. 1 (2026): Januari
Publisher : CV. KAMPUS AKADEMIK PUBLISING

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.61722/jiem.v4i1.8264

Abstract

This study focuses on the global energy crisis, which has exerted significant pressure on the Indonesian economy in recent years. Rising energy prices have directly contributed to higher inflation, increased production costs, and growing fiscal burdens for the government. Under these conditions, the government plays a crucial role in maintaining macroeconomic stability to prevent energy-related shocks from escalating into a broader economic crisis. This study aims to analyze the role of government policies in sustaining macroeconomic stability amid the energy crisis. A qualitative approach is employed through a literature review of relevant scholarly sources. The findings indicate that fiscal, monetary, and energy policies complement each other in mitigating the impacts of the crisis. However, their effectiveness largely depends on policy consistency and the government’s capacity to maintain long-term fiscal balance.
SISTEM PEREKONOMIAN 3 SEKTOR DAN 4 SEKTOR Shafa Azalia Putri; Rolan Rizky Rinaldi Daulay; T. Rahma Rindiany; Ahmad Wahyudi Zein
JURNAL ILMIAH EKONOMI DAN MANAJEMEN Vol. 4 No. 1 (2026): Januari
Publisher : CV. KAMPUS AKADEMIK PUBLISING

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.61722/jiem.v4i1.8354

Abstract

The three-sector and four-sector economic systems are the primary analytical frameworks for understanding national income flows. The three-sector model involves households, firms, and the government. This model explains the state's role in tax collection, public spending, and economic stabilization. The four-sector model adds a foreign sector. This addition broadens the analysis through exports, imports, and international capital flows. This study aims to analyze the differences in structure, mechanisms, and economic implications of the two systems for national income balance. The method used is a literature review with a descriptive-analytical approach based on Keynesian macroeconomic theory. The results of the study indicate that the three-sector system is effective in explaining fiscal policy in a closed economy. The four-sector system is more relevant for an open economy integrated with global trade. In conclusion, the selection of an economic model must be tailored to the characteristics of a country's economic structure to ensure more accurate and applicable policy analysis.
Konsep Ekuilibrium Dalam Analisa Is-lm Nabilla Syaqiah Amanda; Sefvira Maharani; Dea Amanda Br Ginting; Ahmad Wahyudi Zein
Sinergi : Jurnal Ilmiah Multidisiplin Vol. 2 No. 1 (2026): Sinergi: Jurnal Ilmiah Multidisiplin
Publisher : PT. AHLAL PUBLISHER NUSANTARA

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Abstract

This study aims to analyze the concept of equilibrium or balance between goods and money markets using the IS-LM model, both within a conventional economic framework and an Islamic economic perspective. Using quantitative descriptive methods with secondary data from 1969-1998 in Indonesia, this study evaluates how fiscal and monetary policies interact in determining national income and interest rates. The analysis shows that general equilibrium is achieved through appropriate policy synchronization. From an Islamic perspective, this model is modified by replacing interest with profit sharing and fees on idle productive assets. These findings confirm that the IS-LM model remains relevant as a tool for economic policy analysis, with the caveat that instrument adjustments are necessary to achieve economic justice and social welfare in accordance with Sharia principles. Keywords: IS-LM Model, Equilibrium, Fiscal Policy, Monetary Policy, Islamic Economics   Abstrak Penelitian ini bertujuan untuk menganalisis konsep ekuilibrium atau keseimbangan pasar barang dan pasar uang melalui model IS-LM, baik dalam kerangka ekonomi konvensional maupun perspektif ekonomi Islam. Menggunakan metode deskriptif kuantitatif dengan data sekunder periode 1969-1998 di Indonesia, kajian ini mengevaluasi bagaimana kebijakan fiskal dan moneter berinteraksi dalam menentukan pendapatan nasional dan suku bunga. Hasil analisis menunjukkan bahwa titik keseimbangan umum tercapai melalui sinkronisasi kebijakan yang tepat. Dalam perspektif Islam, model ini dimodifikasi dengan mengganti instrumen bunga menjadi bagi hasil dan biaya atas aset produktif yang menganggur. Temuan ini menegaskan bahwa model IS-LM tetap relevan sebagai alat analisis kebijakan ekonomi, dengan catatan penyesuaian instrumen diperlukan untuk mencapai keadilan ekonomi dan kemaslahatan sosial sesuai prinsip syariah.   Kata kunci: Model IS-LM, Ekuilibrium, Kebijakan Fiskal, Kebijakan Moneter, Ekonomi Islam.
Analisis Penerapan Good Corporate Governance Pada PT Bio Farma (Persero) Yuliana; T. Zaskya Azhar Azaddin; Radiansyah; Ahmad Wahyudi Zein
Sinergi : Jurnal Ilmiah Multidisiplin Vol. 2 No. 1 (2026): Sinergi: Jurnal Ilmiah Multidisiplin
Publisher : PT. AHLAL PUBLISHER NUSANTARA

Show Abstract | Download Original | Original Source | Check in Google Scholar

Abstract

Good Corporate Governance (GCG) is a corporate governance system aimed at enhancing company value sustainably through the implementation of the principles of transparency, accountability, responsibility, independence, and fairness. Inconsistent implementation of GCG can create opportunities for fraud and reduce the trust of investors and stakeholders. This study aims to analyze the implementation of Good Corporate Governance principles at PT Bio Farma (Persero), one of the strategic State-Owned Enterprises (SOEs) in the life sciences sector. The research method used is qualitative with a case study approach, utilizing secondary data obtained from the official website of PT Bio Farma (Persero). The analysis is conducted descriptively on company policies, organizational structure, and corporate governance practices related to GCG principles. The results indicate that PT Bio Farma (Persero) has implemented GCG principles fairly well through information transparency, clear division of duties and responsibilities, compliance with laws and regulations, risk management, and fair treatment of stakeholders. Nevertheless, the implementation of GCG still needs to be continuously improved to more optimally support company performance and business sustainability amid global competition. Keywords: Good Corporate Governance, Corporate Governance, State-Owned Enterprise, PT Bio Farma, Transparency Abstrak Good Corporate Governance (GCG) merupakan sistem tata kelola perusahaan yang bertujuan untuk meningkatkan nilai perusahaan secara berkelanjutan melalui penerapan prinsip transparansi, akuntabilitas, responsibilitas, independensi, dan kewajaran. Penerapan GCG yang tidak konsisten dapat membuka peluang terjadinya kecurangan (fraud) serta menurunkan kepercayaan investor dan pemangku kepentingan. Penelitian ini bertujuan untuk menganalisis penerapan prinsip Good Corporate Governance pada PT Bio Farma (Persero) sebagai salah satu Badan Usaha Milik Negara (BUMN) strategis di bidang lifescience. Metode penelitian yang digunakan adalah kualitatif dengan pendekatan studi kasus, menggunakan data sekunder yang diperoleh dari website resmi PT Bio Farma (Persero). Analisis dilakukan secara deskriptif terhadap kebijakan, struktur organisasi, serta praktik tata kelola perusahaan yang berkaitan dengan prinsip-prinsip GCG. Hasil penelitian menunjukkan bahwa PT Bio Farma (Persero) telah menerapkan prinsip-prinsip GCG secara cukup baik melalui keterbukaan informasi, kejelasan pembagian tugas dan tanggung jawab, kepatuhan terhadap peraturan perundang-undangan, pengelolaan risiko, serta perlakuan yang adil terhadap pemangku kepentingan. Meskipun demikian, penerapan GCG masih perlu ditingkatkan secara berkelanjutan agar dapat lebih optimal dalam mendukung kinerja perusahaan dan keberlanjutan usaha di tengah persaingan global. Kata kunci: Good Corporate Governance, Tata Kelola Perusahaan, BUMN, PT Bio Farma, Transparansi
Co-Authors Abda Abda Abdul Malik Karim Amrullah Abdurrahman Abdurrahman Ade Rizky Syuhada Adelia Gusfira Adelia Safitri Adik Tya Hasibuan Adinda Putri Kamalia Adisty Aulia Zahra Aditya Effendi ADITYA KURNIAWAN Aditya Putra Piliang Afiyah Zahrah Aflah Muhajir Afni Haryanti Harahap Agung Anantha Ahmad Al Farabi Ahyarul Juanda Sagala Aisyah Khairani Lubis Aisyah Nur Amelia Al Habib Nasution Alfa Khair Alfatih Faiz Fahlevi Alfian Khoiri Malau Aliya Fayyaza Allya Zahra Putri Nasution Aly Syibran Alya Arianti Nasution Amanda Mutiara Hasibuan Amelia Sri Ningsih Angger Gumilang Sugiarto Anggi Arko Azzahra kudadiri Anggi Rizkina Sari Siregar Anggri Pranata Anggun Khairunnisa Agustin Anisa Paujiah Sinaga Anju Andini Annisa Febrianda Annita Firda Aprilia Regitasya Parinduri Arif Hidayat Lubis Arofiani Mutmainah Artika Tri Septia ASNAWI Assifa Khairiah Asyami Ramadhani Asyhari abdillah siregar Audry Hafifa Listy Biran Aulia Rahma Aulia Syahfitri Ayla Rizki Janira Azhela Dwi Aryani Azza Bunaia Azzahra Mufida Harahap Billi Jenawi Bunga Agustina Cici El Dirrah Syafitri Simanungkalit Cici Mutia Siregar Cindy Aulia Zalyanti Cindy Cindy Dea Amanda Br Ginting Demala Sari Devani Tarigan Dewarni Siregar Dewi Fazira Dhany Saputra Sembiring Dian Aulya Utami Dian Zahra Syahfitri Lubis Diandha Hashifa Didi Handono Syahputra Dina Cheetah Khairiyah Dina Ismaini Dini Anggraini Dini Zahratun Husna Divya Reyvani Eka Christina Waruwu Elma Fiisma Dalimunthe Elvina Zailanty Harahap Elvira Andriyani Ema Julia Ningsih Fadila Putri Fahreza Permana Fakhrezi Wildan Hrp Falih Arkan Hasibuan Farida Syah Damanik Faris Andrawika Harahap Faris Haikal Hasibuan Fathiya Syahidah Nasution Fatia Hadaya Panjaitan Fatimah Hafni Simanjuntak Fikriansyah Fikriansyah Fitra Amar Rosuli Fitra amar rosuli Free May Santri Gladis Jelita Gustina Choirunnisa Siregar Habibah Ramadhani Habibah Ramadhani Nasution Habibul Akhir Hana Malika Rahmah Sitorus Hasanatun Fitri Heri Yunus Ika Damai Sari Ika Wahyu Indriani Ningsih Ilhamuddin Sianifar Imel Santika Siregar Inal Syahputra Indah Amelia Intan Juwita Damanik Isma Awaliyah Isma Awaliyah Sipahutar Ismaika Hayati Hasnah Istiaza Azra Jessica Hartallah Julia Hamdini Nasution Juwita Sifas Sembiring Karin Aribi Ivanka Keisya Putri Balqis Khaila Nazwa Syahbani Khairunisa Alisya Hasibuan Kurnia Fitri Laura Natasya Saragih Lira Amelia M Aidil Syahputra M Sawal Pitriyadi M. Aidil Syahputra M. Farhan Aulia Rozan M. Hanif Abrar Maulida Rahma Maura Faradita Maysa Chairani Melati Melati Mhd Khairul Anhar Nasution Mhd. Rifq Alfahrezi Mhd. Rofi Febrian Miratul Imaniah Moventa Alfredo Muhammad Aldi Pratama MUHAMMAD ANWAR Muhammad Daffa Prasetya Muhammad Dimas Arif Muhammad Dzikry Falah Erlangga Muhammad Fatih Askari Nst Muhammad Haykal Muhammad Iqbal Muhammad Kurniawan Pulungan Muhammad Raghid Alfatiy Muhammad Riski Muhammad Rizky Putra Muhammad Rusdi Hasibuan Mulia Syahputri Mursal Amri Harahap Muthia Zahra Damanik Mutia Salwa Hutauruk Nabila Putri Wirani Nabila Zahra Nabilla Syaqiah Amanda Nadira Aulia Zahra Nadra Syahira Putri Naila Deswita Naila Husnayati Harahap Namira Hamni Lubis Nanda Meyshinta Nazwa Tantri Fitria Nia Rahmadhani Nikita Adelia Syafitri Nisa Istiqomah Siregar Nisa Syahira Najla Niswa Auliya Lubis Nona Azzahra Nasution Nova Sulistiani Safitri Nurhalizah Bandaso Nurhidayah Nurul Aini Harahap Nurul Fadilah Nurul Hikmah Pasaribu Nurul Syafriani Perwira Hasibuan Popi Dea Ananda Putri Ayu Manalu Putri Wahyuni PUTRI WAHYUNI Putri Yuanita Radia Havni Sari Harahap Radiansyah Rafif pramdito Aremi Rafli Aditya Ramadhan S Rafly Aditya Ramadhan Rafly Ramadhan Simanjuntak Rahayu Manila Guci Rahmad Badri Jambi Raihan Ade Ghuffar Raihan Mubarak Ramzy, Al Rania Atikah Putri Ratih Silviany Reza Wardana Ridho Qusshoyyi Rifauziah Arni Malau Rilla Masyita Rinjani balqis salsabila Risa Lidia Batubara Riza Aulia Rizki Fauziyah Nasution Rizki Simanullang Rolan Rizky Rinaldi Daulay Ropiah Daulay Safitri, Adelia Safnah Soleha Salsabila Sofiya Wardani Salsabila, Salsabila Salsabillah Zahwa Khairunnisa Sandi sipahutar Sefvira Maharani Sely nurlela Septian Dwi Cahya Shafa Azalia Putri Siti Nurhalimah Siti Nurhaliza Siti Rahma Mutiara Sofia Damayanti Hasibuan Sopia Mayang Sari Sri Aulia Ramadani Suci Indah Triani Sukma Anggriani Sulistya ningsih Surya Dimas Susi Rahmadani Syahla Nabila Syahrul Tanjung Syakila Novia Fitri Syarifah Khairatun Hisan Syifwa Nurdilla Gusvi T. Rahma Rindiany T. Zaskya Azhar Azaddin Tarmizi Silalahi Tasya Nadilla Thania Ramadhani Tri Ibnu Ramadhanu Tri Sari Harahap, Indah Valina Sinka Vania Khairunisa lubis Vanya Dwi Kinanti Vingkan Andini Wahyudin Widiya Indah Lestari Widya Anggraini Wulan Ariby Yabib Fikri Rambe Yazid Al Hafiz Lubis Yeni Yolanda Simatupang Yogi Pandapotan Siregar Yuliana Yuliana Yunita Dwi Rahmawati Zahra Fatin Miera Zhafira Syaifani Siregar Zohya Azzura Zulfahri Salim