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INDONESIA
Journal of Business and Management
Published by Institut Teknologi Bandung
ISSN : 22523898     EISSN : 22523308     DOI : -
Core Subject : Science,
Decision Sciences, Operations Research & Management
Journal of Business and Management (JBM)is an online journal that is published three times a year. It publishes research papers that give rigorous theoretical and practical insight of business and managament. JBM aims to provide a forum for the dissemination of theory application and research in all areas of business and management, including but are not limited to marketing, business strategy, decision science and decision-making, strategic negotiation, finance, business risk, knowledge management, human capital management, technology management, entrepreneurship, and others relevant subjects. It is intended for researchers, students, business practitioners, and entrepreneurs to publish their ideas and experiences, and share their knowledge on business and management issues.
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Articles 10 Documents
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Search results for , issue "Vol 3, No 2 (2014)" : 10 Documents clear
Evaluation of Motivational Level In Order to Improve Employee Performances (Case Study: Fabrik Eatery & Bar) Abdurrahim, Abid; Welly, John
Journal of Business and Management Vol 3, No 2 (2014)
Publisher : Journal of Business and Management

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Abstract

Bandung economy is mainly built upon several economic activities including tourism.One of the big attractions to tourists is the variety of interesting restaurants, cafes, and coffee houses tucked into the hills and main streets around Bandung. Every weekend, Jakartans escape the chaos and congestion of the capital to relax in the quiet Bandung hills or just to refresh their mind and souls from the chaotic traffic inside the city of Jakarta. In addition to the quality of the food and beverage, the quality of service also take a significant contribution to the popularity of the restaurants. These restaurants are without problems. This research tries to identify the problems by interview and validate by questionnaires. The purpose of the interview is to get deep understanding about the problems that occur within the restaurant while the purpose of the questionnaires were to validate the problems and analysing it tofind answers about the problems. From the result of the questionnaires that have been done, there are three categories problem analysis. First is from the behavior that we can see from MARS model. Second is from the management of Fabrik Eatery & Bar. Third is from organizational culture. This final project presents to readers a clearly vision of evaluating employee motivation with a case of Fabrik Eatery & Bar. It will also help the owners of restaurants in Bandung which may be interested on improving their business/businesses performance.  As for the conclusion, Fabrik Eatery & Bar need to improve their employee motivation; Fabrik Eatery & Bar must fullfiled the basic needs of their employees to create a big motivation factor in order for employees to work better and harder. To achieve that, the owner and the management of Fabrik Eatery & Bar needs to understand every single problems that occur within the restaurant, also need to understand each of the employees problem and have a group discussion to solve the problems. The next step is using recommendations to solve or anticipate problems. When the recommendation are implemented, motivation level of every employees will be expected to increase afterward. Keywords: Motivation, Employee Motivation, MARS Model, Employee Behavior
Testing the Efficient market Hypothesis on Weak and Semi-Strong form in the Indonesian Stock market Rizkianto, Gita Denaya; Surya, Budhi Arta
Journal of Business and Management Vol 3, No 2 (2014)
Publisher : Journal of Business and Management

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Abstract

The author tested the efficient market hypothesis on the Indonesian stock market by employing the serial correlation test to test the efficient market hypothesis on weak form level  and the Multifactor Arbitrage Pricing Theory (Multifactor APT) to test the efficient market hypothesis on semi-strong form level. For the test on the semi-strong form, the author chose 8 stocks with the highest market capitalization from 8 different sectors of the LQ45 index as the dependent variables and the JCI (Jakarta Composite Index), oil price, inflation rate, and the foreign exchange rate as the independent variables. The author has 2 purposes in this final project. The first purpose is to test whether the Indonesian stock market is efficient on both weak form level of efficiency and semi-strong form level of efficiency. The second purpose is to give recommendation to investors in analyzing the Indonesian stock market. The results of this final project show that the Indonesian stock market is not weak form efficient and it is not semi-strong form efficient. This means that investors can gain abnormal returns by doing technical analysis on the historical movements and fundamental analysis. Although individually the JCI, oil price, inflation rate, and foreign exchange rate have low predictive power, they collectively possess predictive power over the stock return in the Indonesian stock market. Key words: Efficient market hypothesis, weak form, semi-strong form, predictive power
Feasibility Study of Belitung Hotel Project (Case Study PT XYZ) Arsanti, Meutia; Murtaqi, Isrochmani
Journal of Business and Management Vol 3, No 2 (2014)
Publisher : Journal of Business and Management

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Abstract

This research will focus on tourism and hospitality business. For example is the hotel project of PT XYZ in Belitung. The purpose of this study is to gain feasibility of Belitung hotel project and determine whether the project is a good foundation for PT XYZ by knowing the return of the project of 10 years and after, required payback period in economic lifetime of 10 years, profitability index and internal rate of return as a decision rule for consideration in decision making management. To define the return of the project, author will be using the cash flow of the project. This project also assumed that the project will be continued and growing forever that’s why to determine terminal value of the project is a must. After calculating the cash flow and terminal value of the project the study found that the Net Present Value of the project generates a positive value of Rp 1,362,042,391,704 if PT XYZ continuing to operate the business forever. The profitability index of the project shows result of 9.5 with project Internal Rate of Return of 43.7% and the Modified Internal Rate of Return of this project is 55.5%. The Payback Period of the project is 5 years and 2 months and Discounted Payback Period this project is 5 years and 5 month. The safety number on occupancy rate can be a minimum standard and indicate the situation of the hotel operation. Net Present Value of theproject using safety occupancy rate generates a positive value of Rp 2,512,004,324,803 with the profitability index of the project showing result of 21.5. The Internal Rate of Return of the project is 101.4% and Modified Internal Rate of Return of this project using safety occupancy rate is 103.5%. The Payback Period of the project is 1 years and 7 months and the result of Discounted Payback Period is 1 years and 8 month. Based on the conclusion obtained from the analysis of the data author conclude that implementing Belitung hotel project is feasible and recommended for PT XYZ so they can increase firm wealth. Keywords: Belitung, Tourism, Hotel, Feasibility Study, Cash flow, terminal valueCategory : Finance, Business Plan
Comparing Determinant of Profitability Between Islamic Banks and Conventional Banks in Indonesia Case Study Eight Islamic banks and Eight Conventional Banks in Indonesia Period 2010 - 2013 Herdiana, Dita; Aliludin, Arson
Journal of Business and Management Vol 3, No 2 (2014)
Publisher : Journal of Business and Management

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Abstract

The main theme of this research is profitability and focus on finding determinant profitability in Islamic banking. It also explain the differences determinant of Islamic banking and conventional banking in Indonesia. This research uses quarterly bank’s financial report from July 2010 until September 2013 from 8 Islamic banks and 8 conventional banks. The sample selections from Islamic banks are 3 non foreign exchange banks and 5 foreign exchange banks; and, the sample from conventional banks are 1 non foreign exchange bank, 2 state owned banks and 5 foreign exchange banks. This research used multiple regression method as analysis statistic tools to determine which factors affect each dependent variable. The dependent variables are Return on Asset (ROA), Return on Equity (ROE) and Net Interest Margin (NIM). The independent variables from Islamic banks are IB wadiah demand deposit, IB wadiah saving deposit, IB mudharaba saving deposit, IB total saving deposit, IB mudharaba time deposit and IB total depositors funds, mudharaba receivable, placement in Bank Indonesia, placement in other banks, security in investment, then small enterprise credit, non-small enterprise credit, property credit, non-property credit, quick ratio and core depositors to depositors funds ratio. The independent variables for conventional banks are demand deposit, saving deposit, time deposit, cash, placement in Bank Indonesia, placement in other banks, security in investment, small enterprise credit, non-small enterprise credit, and restructured credit property credit. The result showed the independent variables that significantly affects ROA is IB wadiah demand deposit for Islamic banks and demand deposit for conventional banks; the independent variables that significant variable with ROE is IB wadiah demand deposit for Islamic banks and demand deposit for conventional banks; and the independent variables that significant variable with NIM is IB mudharaba time deposit for Islamic banks and time deposit for conventional banks. This research shows depositors’ funds have significant effect for ROA, ROE and NIM. Keywords: Islamic Banking, Conventional Banking, Depositors Funds, Profitability, Multiple Regressions
Internet marketing Strategy of Commercial Website for NU Skin Distributor Noer, Muhammad Sherdian Wilandria Syofrinaldy Wilandria Syofrinaldy; Wandebori, Harimukti
Journal of Business and Management Vol 3, No 2 (2014)
Publisher : Journal of Business and Management

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Abstract

Nu Skin Enterprise had been running in Indonesia since early 2005. The company was well-known to many countries in the world especially in Asia. The growth of the company was quite significant and the products were also well-known especially for its anti-aging products. The company used multi-level marketing as its well-suited strategy. However, the disadvantage was that only people who became distributor were the only ones who actively promoted the products. But there were limit they encountered which were distance and time thus could now be covered by today’s technology, internet, and in order to get the best result, a system and strategy were highly necessary. In Indonesia, Nu Skin was yet known to many people because the products price were categorized as premium in personal care product category, and people awareness toward the products were not that high since there was no commercial advertising and such in Indonesia for its products. Therefore, the strategy that was considered as solution and became topic of this research was about internet advertising and its strategy in creating a website. The objective of this research was mainly to identify people awareness toward the products by making an informative e-commerce website that could be used by distributor to make more effective process in promoting and distributing the products of Nu Skin. The website would be then analyzed according to website and business theory and also interviews result from Nu Skin registered distributors. The analysis would then generate conclusion and recommendation about what kind of website that would be best created and used by Nu Skin distributor. The findings of this research were about website creation and development along with its online advertisement performance. The result was then analyzed to generate internet marketing strategy best suited for the distributors to be implemented in a form of ready-to-use website. Keywords: Internet Marketing, STP Analysis, Website Creation and Development
Analyzing Influence on Inflation, Export, Exchange Rate, and Labor Cost to FDI in Indonesia for Period 2000-2012 Hartini, Nursanthy Indah; Noveria, Ana
Journal of Business and Management Vol 3, No 2 (2014)
Publisher : Journal of Business and Management

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Abstract

FDI is defined as investment inflow to a country other than investor’s country to obtain long term interest or management control over companies operating in a host country. FDI can occur in the types of purchasing existing asset in a foreign country, to joint venture with a local company. This research will explain about the influences of inflation, export, exchange rate, and labor cost to FDI inflows in Indonesia. The data of FDI inflows are gathered from Asian Development Bank Institute in a quarterly basis for the period 2000 to 2012. To analyze the data, multiple linear regression is used to determine which variables give significant impact to FDI, and Granger Causality to observe if there is any causality relationship either in one way or two ways. The independent variables are inflation, export, exchange rate, and labor cost. The independent variables in this research were chosen based on the FDI theories. The data for the independent variables were gathered from Bank Indonesia and Badan Pusat Statistik. Before proceeding with the regression, the assumption test is done to ensure that the regression model is valid to be analyzed. After the assumption test is conducted and the variables are proven to be valid for regression, the hypothesis testing is conducted. It is found that only two variables give significant influence to FDI, which are export and labor cost. Both export and labor cost affects FDI in a positive relationship. Thus, it proves that open export economies tend to attract FDI inflows. It also proves that although labor cost influence FDI, lower labor cost does not always encourage FDI. Based on this result, it can be concluded that perhaps investor tend to choose Indonesia as a host country based on its business and trade environment rather than the financial indicators.   Keywords: FDI Determinants, Inflation, Export, Exchange Rate, Labor Cost, Granger Causality
The Financial Feasibility Study of N219 Aircraft in Papua Lubis, Aliananda; Surya, Budhi Arta
Journal of Business and Management Vol 3, No 2 (2014)
Publisher : Journal of Business and Management

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Abstract

The Republic of Indonesia has the largest archipelago in the world. With the geographical condition, however, there are still several areas that are isolated and difficult to reach, even not accessible by road. These conditions will make it difficult for the Government in an effort to build connectivity between areas in an attempt to equitable development. PT. Dirgantara Indonesia or known as Indonesian Aerospace (IAe) is developing a new aircraft, which is suitable for the mission of the pioneer air transportation. The aircraft is the N-219, which has capacity to carry 19 passengers and cargos and will entry into service in year 2017. The aircraft route that will be discussed specifically in this study is based in Timika, Mimika Regency, Papua. The total project cost and the revenue will determine the project calculation. Then the cost and the revenue will be used to calculate the Net Present Value (NPV), Internal Rate of Return (IRR), and as well as Payback Period (PBP). After all of the calculation is done, then the calculation of the Sensitivity Analysis will be made. Then, the result of the calculation which are NPV, IRR, and PBP will show the project whether it is feasible or not. This final project presents to readers a clearly vision of financial production of a turboprop aircraft. It will also help the potential airlines, which may be interested on buying this kind of aircraft in the future. As for the conclusion, the NPV of the project is USD 37,004,404.- , the IRR is 27.3% (which good because its greater than the Minimum Acceptable Rate of Return), the Payback Period is 5 years 4 months (which is also good enough because it is still during the project lifetime). So from these results, it can be concluded that this project is feasible. Keywords: Aviation Routing, Feasibility Study, Sensitivity Analysis
Stakeholder Engagement Between KPSBU and dairy Farmers Pradikto, Risky Adha; Rudito, Bambang
Journal of Business and Management Vol 3, No 2 (2014)
Publisher : Journal of Business and Management

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Abstract

A large number of people in rural Indonesia are depending on agriculture for their livelihood. But the development of Indonesian agriculture has not brought many benefits to these people, and has a little impact on rural poverty. In a developed and populous country such Indonesia, the problem of rural poverty cannot be resolved by redistribution of land that is in short supply. Dairy farming is an alternative that can be an answer from the problem above. But dairy farming needs further attention so this sector can grow. Besides, dairy farming is basically not deviate from local community customary habit. So, this occupation is easier to be implemented and developed. The growth chance of dairy farming sector in Indonesia is increasing when the cooperative system for dairy farming is introduced in some of rural area. In Lembang, there is a one of 5 biggest cooperative in Indonesia, it is Koperasi Peternak Susu Bandung Utara –namely KPSBU. The main product is dairy milk. KPSBU held many events, activities, and programs to stimulate the milk productivity of dairy farmers by increasing the members’ wealth which is the KPSBU’s main focus in their sustainability. The author conducted a qualitative research with ethnography approach by observation. This research is research on stakeholder engagement that conducted and conducting between the dairy farmers and KPSBU and comparing it with AA1000SES (2011). Key Words: Dairy Farmers, Cooperative, Engagement.
In-Depth Review of PT. Penta Cosmopolitan CSR Program: TKIT Syeikh Abdurrauf Education Facility, Banda Aceh Bijaksana, Rizky Pradana; Rudito, Bambang
Journal of Business and Management Vol 3, No 2 (2014)
Publisher : Journal of Business and Management

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Abstract

The tsunami that occurred in the year 2004 nearly leveled the city of Banda Aceh and surrounding areas . Of course, infrastructure and public facilities damaged thereby , including schools and other educational institutions in the form . Various aid comes from a variety of parties , including the private company . These companies make community development programs or in this case , the reconstruction , which is formed in the form of Corporate Social Responsibility . Assist and fund community to solve various problems and meet the needs of the population in the surrounding area concerned . This final project is written for review and in-depth understanding of the CSR programs conducted by PT . Penta Cosmopolitan . Is engaged in property and education , the private companies also helped in the development of post-tsunami Aceh region in the field of educational facilities . The author used direct and personal approach to the program established by PT . Penta Cosmopolitan . Among others the way proceeds go directly to the location of the program is TKIT / Taam Sheikh Abdurrauf . Located in the village of Blang Oi , Meuraxa district , this village is one of the villages worst affected by the tsunami . In this thesis , will be included history , process and details of the CSR program between PT . Penta Cosmopolitan and Abdurrauf Sheikh 's Foundation . All observations and interviews with relevant parties will also be included in this thesis . The ultimate purpose of this final project is to observe objectively from the program . Finally, the authors hope that the recommendations and suggestions of the writers will make this program become better in the future 
Estimating Company Value of PT LIPPO karawaci Tbk Puteri, Eka; Noveria, Ana
Journal of Business and Management Vol 3, No 2 (2014)
Publisher : Journal of Business and Management

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Abstract

in the last few years, the Indonesian property sector continues to grow with the help of the Country, which has a strong economy. PT Lippo Karawaci Tbk is a diversified and integrated property group and is involved in townships, residential homes, hospitals, hotels, retail malls and industrial estate development and management. The share price in stock exchange of PT Lippo Karawaci Tbk is not always reflects the share value of the company itself. The objective of this research is to provide information for shareholders regarding share value of PT Lippo Karawaci Tbk by estimating the price per share value using the three methods in valuation, and estimating the company’s value. The theoretical fundamental that used in this research is based on valuation theory by Aswarth Damodaran. The methods used are Discounted Cash Flow, Market Approach, and Asset Based Approach. Discounted Cash Flow method result shows that share value of PT Lippo Karawaci Tbk is amount to four thousand nine hundred nineteen rupiah for Pessimistic, seven thousand five hundred twenty six rupiah for Most Likely, and eighteen thousand eight hundred fifty one rupiah for Optimistic. Compared to share price in stock exchange which amount to one thousand one hundred rupiah, the amount is smaller than share value, which shows that it is undervalued. The result of Market Approach method shows that share value of sector is amount to eight hundred sixty one rupiah. Compared to share value of company which amount to one thousand one hundred sixty three rupiah, it is greater than share value of sector, which means that it is undervalued. The result of Asset Based Approach method shows that the share value is amount to two hundred seventy three point five rupiah. Compared to share price which amount to one thousand one hundred rupiah, the share value is smaller, which means that it is overvalued.Based on the results of this research, investors can see the information about the share value compared to the share price according to the three methods above. Moreover, investors can use this information to consider the investment plans of the PT. Lippo Karawaci Tbk. Keywords: Valuation, Dicounted Cash Flow, and PT Lippo Karawci Tbk

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