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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 20 Documents
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Search results for , issue "Vol 5, No 1 (2016)" : 20 Documents clear
Customer Insight for Goodism Inc Future Product Development: A Laddering Approach Ghifari, Muhammad; Iskandar, Budi Permadi
Journal of Business and Management Vol 5, No 1 (2016)
Publisher : Journal of Business and Management

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Abstract

Abstract. GOODISM Inc. is a startup business established on September 2013. GOODISM Inc. creates a unique and one-of-a-kind leather wallet with a focus on its main functions. As a new startup company, GOODISM Inc. should do rapid research and development to compete with the competitor. For the initial step, GOODISM Inc. is going to develop the direction to be more in line with the customer needs. Therefore, this research has objective to know the important factors of a wallet product based on consumer preference and to explore GOODISM Inc. target market core values by using the hierarchical value map. The study was conducted using laddering method in form of direct interview with the help of Mean-ends Chain Theory. Descriptive analysis used to explain the attributes come out from the interview result. The result of this study shows that the concrete attributes that customer want in a wallet are Size, Card Slot, Money Slot, Material, and Extra Slot. Moving to abstract attributes, the respondents pointed out three points of slim, unique, and elegant. For functional consequence, there are handy, pocketable, contain more items, well organized, and durable. As for psychological consequence, there are comfortable, practicality, safety, distinction, and pride that all leads to the values of self-confidence, self-fulfilment, and social recognition. By those results, the recommendation for GOODISM Inc. for its future development is to create big size compact wallet, small size compact wallet, and small size slim wallet. Keywords: Startup, Wallet, Means-end chain, Laddering approach, Customer insight
Determining Brand Equity and Marketing Mix in Bakery Store (Case Study: Rogheef Bakery) Haidi, Muhamamd Falah; Wandebori, Harimukti
Journal of Business and Management Vol 5, No 1 (2016)
Publisher : Journal of Business and Management

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Abstract

Abstract. The development of bakery industry in Indonesia is getting bigger each year. According to Badan Pusat Statistik (BPS), it shows that the small-size bakery in 2012 is 31 more than in 2008. The statistics shows there are possibilities of more growth through years. The competition of the bakery store is based on what they serve and how they serve their product and services. Based on Keller and Aaker, Brand Equity plays a main role to affect potential customers, especially for new brand. This research focusing on new bakery store that wants to reach potential customers, which choose Rogheef Bakery as the case study. To get the potential customers, it needed a strong foundation of brand equity and specific marketing mix. Brand Equity consists of Brand Awareness, Perceived Quality, Brand Association, and Brand Loyalty. But since the study is about new bakery store, it is hard to determine the loyalty of customers should the Brand Loyalty is dropped for this research. Marketing Mix consist of Product, Price, Place and Promotion. This research conducted interviews and focus group discussion with owner, customers, and employees of Rogheef Bakery. The interview and focus group discussion is used to determine which factors that is important to make a strong brand equity and marketing mix. After getting the important factors, those factors are transferred into several questions that is united in the questionnaire. Then the questionnaire is spreaded to the customers of Rogheef Bakery. The results show that factors of brand equity are Halal food, product display, cleanliness, delicious, healthy, comfortable, safe, trusted, and bring positiveness. Based on those factors, customers agree that Rogheef Bakery are lacking in Brand Awareness and Promotion. It shows that the competitors exceed Rogheef Bakery in terms of those two points. Fortunately, both points has a relation, because increasing promotional activity will also increase brand awareness of potential customers. Rogheef Bakery has to improve their quality of promotion to increase Brand Awareness. Also, maintain the other points of Brand Equity and Marketing Mix and evaluate every step to keep developing the brand itself.  Keywords: Bread, Home industry, Focus group discussion, Brand Association, Brand Awareness
Superior Strategic Markowitz Portfolio in Weak form Inefficient Jakarta Stock Exchange Sholehuddin, Rohmat Agung; Damayanti, Sylviana Maya
Journal of Business and Management Vol 5, No 1 (2016)
Publisher : Journal of Business and Management

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Abstract

Abstract. Capital market has become a regular investment alternative for investors. The existence of capital market provides the chance for investors to maximize their assets. However, capital market has its own risk characteristic. Related to the chance of risk and return, Jakarta Stock Exchange is available to provide the high possibility of earning return, respectively it also provides the high possibility of risk, as it is inefficient of weak-form market efficiency. Investors need to arrange the excellent investment strategy to prepare the investment action in Indonesia.Regarding to the availability of risk and return, investors have their own preference of investment. In general, investors are categorized as aggressive, moderate, and conservative risk profiled. The aggressive investors tend to select more risky assets in order to earn more return though they have to face the higher possibility of risk. The moderate investors tend to select the assets with fair possibility risk and return. And the conservative investors tend to select the assets that provide the lower risk though it will reduce the chance of gaining more return. To incorporate with this condition, investors need the excellent portfolio strategies for their investment. This study is using combined means-variance Markowitz portfolio combined with Merrill Lynch asset allocation for projected portfolio 2015 to 2018. And the results are efficient. The additional asset and fixed income asset included effectively reduce and diversify the potential risk. Keywords: Capital market, weak-from inefficiency, investor risk tolerance, asset allocation, Markowitz portfolio
The Profitability Comparison Between Islamic banking bank and Convetional Bank in Indonesia from 2004 - 2014 Sena, Muhamad Ridho Chandra; Fathurohman, Taufik
Journal of Business and Management Vol 5, No 1 (2016)
Publisher : Journal of Business and Management

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Abstract

Abstract. Islamic Bank has grown quickly in all over the world including Indonesia. Islamic Bank not only exists in countries where Muslims are the majority but also in countries where Muslims are minority such as the United Kingdom and Japan. Islamic Bank grows significantly with the pace of 10 to 15% every year from 1997 to 2007, and it hopes that it will remain consistent focused growth in the future. In 1991, the first Islamic Bank that established in Indonesia was Bank Muamalat Indonesia and that year was the introduction of dual banking system era in Indonesia. As Islamic Bank in Indonesia keeps growing, the profitability performance should also increase. Therefore, this research focuses on analyzing and compare profitability between Islamic Bank and Conventional Bank. This research includes the most recent data that cover financial report from 2004 to 2014 to observe the performance of Islamic Bank and Conventional Bank in Indonesia. The profitability ratios applied in this research are Return on Assets (ROA), Return on Equity (ROE), Profit Margin (PM), Return on Deposit (ROD), and Net Operating Margin (NOM). This research observed all banks in Indonesia with available data. This study covers 1523 banks that include 1228 Conventional Banks, 78 Islamic Banks, and 217 Islamic Business Unit (IBU). The finding of this research shows that there are differences between Islamic Bank and Conventional Bank in each ratio that variates through the year. Keywords: Islamic Bank, Profitability, Financial Ratios
A Comparative Risk Analysis of Islamic and Non Islamic Bank in Indonesia from 2004 to 2014 Using Financial Ratios Syahrani, Erina Ayunda; Fathurohman, Taufik
Journal of Business and Management Vol 5, No 1 (2016)
Publisher : Journal of Business and Management

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Abstract

Abstrack. The development and growth of Islamic finance in Indonesia has gone rapidly since it started in 1990. The Islamic finance has cover banking industry, made Islamic banks and Islamic Business Unit (UUS) that is under the control of established banks. As Islamic banks got stronger in the market, it concluded that Islamic Banks have to compete against conventional banks and other type of bank in Indonesia. Therefore, this study analyzed the financial performance of Islamic or Sharia banks, compared with conventional banks in Indonesia. This study will focus on risk ratio of Islamic banks and conventional banks. This study study 78 (observation) islamic banks, 232 Islamic Business Unit (UUS) and 1227Non Islamic Banks in Indonesia during 2004-2014 with risk ratios, which are Deposits to Assets (DTA), Equity Multiplier (EM), Equity to Deposts (ETD), Total Liabilities to Equity (TLE), Total Liabilities to Shareholder Capital (TLSC), and Retained Earnings to Assets (RETA). The data collected are secondary data which obtained from Otoritas Jasa Keuangan (OJK), include the income statement, balance sheet, statement of change in stockholders’ equity, and statement of cash flows. The findings shows there are differences between eight ratios that are used for the study. Findings from the calculation in previous chapter shows that Islamic Banks are statistically less risky than Non Islamic Banks, especially from 2004-2008, 2012 and 2014, based on the mean and median results. The results happen because of the change in risk components within the studied banks through years. Plus, there are also few changes in number of banks included in the calculation in 2009-2011 and 2013, that cause a difference from other studied years. Keywords: Islamic bank, Risk, Ratio Analysis
Operation Strategy Formulation in GKSI Boyolali Milk Treatment Industry Zachary, Reyhan; Yudoko, Gatot
Journal of Business and Management Vol 5, No 1 (2016)
Publisher : Journal of Business and Management

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Abstract

Abstract- GKSI (Union of Indonesian Dairy Cooperatives) Boyolali is milk treatment industry currently specializing in condensed milk and focus to do B2B as contract manufacturer. They faced pressure on profit margin due to tighter competition and increasing raw material and utility cost. The company did not success on fulfilling market requirement and managing their resources affecting to uncompetitiveness on their business. The purpose of this research is to propose strategy formulation to improve their performance through corporate, business, operation strategy. Conceptual model to be used in this research is strategic management model about strategy hierarchy and operation strategy model by Slack and Lewis. The data to support analysis were collected through in-depth interview with people in the company, observation, historical data of the company, and information from public news. Corporate strategy formulation began by doing external and internal analysis, then summarizes it into SWOT. Then, it would use IFAS-EFAS, Grand Matrix, GE Matrix, and TOWS Matrix to determine directional strategy. Business strategy would use Porter Competitive Strategy. As final output, operation strategy formulation would determine performance objectives that considered pivotal for the company. Then, it continued by determining the excellent strategy through operation strategy matrix with prioritizing the certain area that become critical structural and infrastructural decision. In corporate level strategy, the direction of company is stability and selective investment. Business strategy that suit the most for their current condition and capability is differentiation. With quality and speed are the most pivotal performance objectives, the company should focus to acquire cooling technology for production process (structural decision), product and service development and improve standardization on production (infrastructural decision). On implementing those strategies, they could try to install tubular heat exchanger, improve customization level, and improve HACCP (Hazard Analytical Critical Control Point) system implementation in production process. Keywords: Milk Treatment Industry, Contract Manufacturer, Operation Strategy, Structural and Infrastructural Decision
Independence Day Effect in the Stock Price of ASEAN State-Owned Enterprises Setiawan, Marvella Justia; Murtaqi, Isrochmani
Journal of Business and Management Vol 5, No 1 (2016)
Publisher : Journal of Business and Management

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Abstract

Abstract. Holiday effect is an anomaly on stock returns related to public holidays. This findings oppose Efficient Market Hypothesis directly as it proves that abnormal return presence. Lakonishok and Schmidt (1998) defined public holiday as days when market is closed, such as Labor Day, President’s Day, Memorial Day, Independence Day, Thanksgiving, New Year, Good Friday, and Christmas. The study reported that 30% up to 50% more return can be gained in holiday season compared to non-holiday season. Keyword(s): Holiday Effect, Independence Day, ASEAN
The Effects of Service Quality to Loyalty Intention: The Mediating Impact of Customer Satisfaction Wicaksono, Praditya Dwi; Aprianingsih, Atik
Journal of Business and Management Vol 5, No 1 (2016)
Publisher : Journal of Business and Management

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Abstract

Abstract. In the recent years, the health and fitness industry in Indonesia is growing very rapidly; one of them is Muay Thai Fight Gym. The Fight Gym industry by nature is highly competitive, since almost all of the fight gyms are alike in terms of the programs and the facilities. The management of Rewa Fight Gym needs to know which area that they have to improve in order to increase their visitor's Loyalty. This research aimed is to investigate the level of service quality, customer satisfaction, Consumer Loyalty, and finds the correlation between them. This research was using Service Quality in Participant Sport for assessing service quality in Rewa Fight Gym by constructing 4 sub-dimensions with 62-item questionnaire, Customer Satisfaction model with 5-item questionnaire, Loyalty Intention mode with 4-item questionnaire, and Behavioral Loyalty Survey of Participant Sport Clubs with 4-item questionnaire. The questionnaire was spread to 100 customers of Rewa Fight Gym. After the responses screened and proved valid and reliable, it was analyzed using Path Analysis to investigate the relationship between variable. The results of this research reveal that Rewa Fight Gym is categorized as good based on overall assessment score with every dimension has similar score. The result also reveals that service quality has significant positive impact to Loyalty through Customer Satisfaction and also independently. The implications of this research from both practical and theoretical aspect are discussed for the management of Rewa Fight Gym, fight gym industry, and suggestion as well as for future research. Keywords: Service Quality, Customer Satisfaction, Consumer Loyalty, Participant Sport, Fight Gym
Social Media Strategy Development: A Case Study in Serial Petualangan si Unyil 3D Animation Ismanto, Abdullah Fikri; Fachira, Ira
Journal of Business and Management Vol 5, No 1 (2016)
Publisher : Journal of Business and Management

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Abstract

Abstract. The purpose of this study is to develop Social media strategy as a part part of promotion initiatives for Serial Petualangan Si Unyil. A market research was conducted to explore women’s social media preference and usage pattern in Bandung and Jakarta. A survey was distributed to 400 respondents targeted by PFN: women who has kids aged 3 to 12 years old. Findings show that Facebook, Path, and Instagram as the most used social networking media (43.7 %, 42% and 38.5 % respectively). The most popular social media messaging is Whatsapp which is chosen by 74% respondents. A social media strategy was developed using Gilfoil, Aukers & Jobs’ (2015) framework comprising defining social media goals, developing social media strategy and designing a tactical plan. Keywords: Social Media, Promotion Strategy, Television Program, Animation
Time Waste Identification Using Value Stream Mapping in Wood Manufacturing Faridah, Cucu; Lestari, Yuliani Dwi
Journal of Business and Management Vol 5, No 1 (2016)
Publisher : Journal of Business and Management

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Abstract

Abstract. This paper aims to describe the application of Value stream mapping to identify the time in the barecore product realization process in PT.XYZ. In addition to identifying time, value stream mapping can discover some wastes that occur in the product realization process. The waste found is made as the basis for maintenance. This study was conducted with several stages. The first stage is to conduct current mapping to depict the actual conditions in the product realization process. The second phase is to analyze current value stream mapping with the data demand 40 container in September utill November. It is found that there is difference in the execution time of the process, so the waste that causes it and how to solve the problem will be analised. The future state mapping is the last step in this study, and it is found in this step that there is time reduction in the barecore product realization process. The use of value stream mapping application in this study managed to finding wastes that occur in the barecore product realization process. Waiting time are the processes by which all the divisions in the product realization process experience. Objective to find solution for eliminating waste. This study found a solution that can reduce waste. The email that will be used in the process of reporting documents. A system of electronic signature that will accelerate the process which requires ratification documents needed. Reporting is a multiplication reporting system, where the presence of this multiplication system will make the fulfillment of some process completed rapidly. The Follow-up process is one of the alternatives process of company that is always waiting for the requested process comes into its own. So with the minimum limit of the follow-up, it will accelerate the next process to be done. Future value stream mapping that is created reduces the use of time that occurs within the product realization process. It is observed, in the process of product realization with demand 40 container could reduce the time by 0.58 days. Keyword: Value Stream Mapping (VSM), Process Mapping, Lean, Waste.

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