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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.
Arjuna Subject : -
Articles 793 Documents
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Estimating Value of PT. Sentul City TBK, real Estate Sector Company-Using Four Methods valuation Mazani, Febrandy; Noveria, Ana
Journal of Business and Management Vol 1, No 4 (2012)
Publisher : Journal of Business and Management

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Abstract

Real Estate sector in Asia, including Indonesia, are experiencing significant progress. This is happens because of the global economic crisis in Europe and America, thus making the investors start to touch the real estate sector, especially Asia. But how big is the value of the real estate sector in Indonesia that makes the investors interested in this sector? From there the author tries to analyze a company engaged in real estate and property sector. PT Sentul City Tbk is a company engaged in the sector and has the most extensive inventory of land in Indonesia compared to other companies in the same sector. In this study, the authors will use four methods to assess the company. The method is Asset-Based Approach, Market Approach, Discounted Cash Flow, and Capitalization Rate. The author also wanted to see whether to assess a company engaged in real estate and property sector will be effective by using the methods already mentioned, especially the Discounted Cash Flow method. The conclusion of this study is that assessing a company engaged in real estate and property sector by using the Discounted Cash Flow method is less effective, especially for companies that have too many land owned.Purpose:   This  research  is  made  to  estimate  the   value   of  PT.Sentul City Tbk. and as the addition, this research also focuses to finding the recommendations that can be implemented to maximize the company value.Design/methodology/approach: The methods that used in this research were Asset Based Approach, Market Approach using P/E Ratio, Discounted Cash Flow using the Weighted Average Cost of Capital as the discount rate, and Capitalization Rate as the adjustment of Net Operating Income to find the value. This research will use the audited fianancial statements from 2007-2011.Findings: The result in this research shows that the company value at the beginning of year 2012 ranged from Rp3,766,066,940,143 - Rp17,153,451,874,388. And the current share price now which is Rp205 per August 10th 2012 is between Rp109-Rp535, which means this company still be a good choice for investors.Research limitations/implications: This research focuses on estimating the value and stock price of the PT. Sentul City Tbk. Originality/value: This paper valuing a public listed company using four method in valuing a firm, and also to know that using discounted cash flow to valuing company in company which have high inventory effective or not.Keywords: Valuation; Real Estate Sector; Asset-BasedApproach; Market Approach; Discounted Cash Flow; Capitalization RateCategory: Finance
THE ANALYSIS RICE PREFERENCE IN BANDUNG Shafira, Azalia; Purwanegara, Mustika Sufiati
Journal of Business and Management Vol 6, No 3 (2017)
Publisher : Journal of Business and Management

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Abstract

Abstract. Indonesia is the 3rd largest rice producer in the world with 71 million ton rice production a year and 47 million ton rice consumption a year. Even though the production is bigger than the consumption, 472 hundred ton rice is still imported to Indonesia. The data of the rice imports reveals the failure of the local rice production in fulfilling the consumption of Indonesian society. This is partly due to the society’s preference of rice type which is not met with the type produced locally. This phenomenon also demonstrates that a study of society’s rice preference is significant in achieving the national rice consumption sufficiency. So, This research will address the preference of rice consumer in Bandung by analysing the market structre of rice by in depth interview method and questionnaire deployment to the consumer. Then, all the data from the rice consumer is processed through conjoint analysis and cross tabulation chi square to get the real insight of customer preference.The research find most of the respondent preferred to buy a rice which is white clean color, usual brand,not containing lice, the price is about Rp 9000-Rp 15000, and the type of the rice is Pandan Wangi. For Pandan Wangi itself their willingness to buy is quite high especially their willingness to recommend it to their relatives.This research is important to understand the society's rice preference in Bandung in order to improve the distribution process so that the rice demand can be fulfilled appropriately. Keywords:  rice market structure, rice preference, consumer behavior, Pandan Wangi, conjoint analysis
Financial Performance Analysis of PT Astra Agro Estari and Company Value Estimation Puspoyo, Ajianto; Sukarno, Subiakto
Journal of Business and Management Vol 3, No 3 (2014)
Publisher : Journal of Business and Management

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Abstract

Palm oil is the world’s most consumed and produced vegetable oil. Southeast Asia region supplies 89.97% of global Crude Palm Oil (CPO) demand, Indonesia is the world’s leader of CPO supplier that own about 53.7% global market. The CPO production and export is also became one of the most influencing commodity in Indonesian trading balance. The financial performance of PT Astra Agro Lestari as Indonesian leading palm oil company will be compared with the palm oil companies with the highest market capitalization in Southeast Asia region. The company valuation also performed to estimate the value of PT Astra Agro Lestari. The method that is used to perform those analyses is the financial ratios comparison with trend analysis, cross-section analysis, common size financial statement, DuPont analysis, and the compound annual growth rate comparison. Then, the valuation method used to value the company is the discounted cash flow (DCF) model, market approach, and asset-based approach. The result of this research, addressed to elevate the company performance of PT Astra Agro Lestari in order to improve the competitiveness in global palm oil competition. The overall financial performance of PT Astra Agro Lestari actually left behind Univanich Palm Oil regardless the business scale difference. PT Astra Agro Lestari continuously lost its business efficiency from 2009 to 2013. The result itself shows that PT Astra Agro Lestari would perform better in the future if the company looking back to export opportunity in increasing global CPO price in upcoming years. PT Astra Agro Lestari also should make its operational more efficient and increase the productivity to make the financial performance better. Two out of three company valuation methods indicates that the share price of PT Astra Agro Lestari is underpriced in the market, thus, PT Astra Agro Lestari shares are prospective in the future.Keywords: Financial performance comparison, Crude Palm Oil (CPO), financial ratios, DuPont analysis, company valuation, discounted cash flow valuation.
THE RELATIONSHIP OF WORK ENVIRONMENT TOWARDS EMPLOYEE’S JOB SATISFACTION FOR MILLENNIALS IN JAKARTA Sabila, Ghaissatika Fairuz; Pritasari, Adita
Journal of Business and Management Vol 7, No 3 (2018)
Publisher : Journal of Business and Management

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Abstract

Abstract. By doing this research, the author wants to examines if the work environment have a relationship towards job satisfaction of millennial employee in Jakarta. The author tried to explore whether work environment would have significant relationship with job satisfaction, in this case work environment that were analyzed are office facility, work flexibility, social relationship, job security, and job esteem. A quantitative survey questionnaire is conducted to explore the relationship between independent and dependent variable. Multi linear regression were applied to analyze the relationship between independent and dependent variable in this study. Based on the data from the sample of 155 millennial employees in Jakarta, work environment that give significant relationship with job satisfaction are Physical office facility and job esteem.Keyword: Work Environment, Job Satisfaction, Office Facility, Social Relationship, Work Flexibility, Job Security, Job Esteem
Designing Corporate Performance Management System Using Integrated Performance Measurement System: Case Study Hilbrew Coffee Jonathan, Ivan; Wibisono, Dermawan
Journal of Business and Management Vol 5, No 4 (2016)
Publisher : Journal of Business and Management

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Abstract

Abstract. Company performance plays an important role in maintaining the sustainability of a company. Hilbrew Coffee, a coffee based company was establish in 2014. After 3 years running the business, the company still doesn’t have PMS to measure their performance. This research use Integrated Performance Management System (IPMS) as the framework in designing the performance management system for Hilbrew Coffee.Keywords: Designing; Performance Management; IPMS; Start-up Company; Porter
Application Value Stream Mapping to Minimize Waste in Aircraft Industry Luciana, Livia; Lestari, Yuliani Dwi
Journal of Business and Management Vol 4, No 10 (2015)
Publisher : Journal of Business and Management

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Abstract

Abstract. Nowadays, many organizations have already implemented lean manufacturing (LM) in order to be competitive in global market.  Many company need Lean Manufacture to reduce wastes or activity that has no added value to increasing efficiency in process production. Currently, PT Xis one of aircraft manufacturing in Indonesia has issues a procurement department. Currently, the big problem of procurement department is delays to make dokument PR and PO in 2014 this cause the long lead time in 2014.Based on historical data, total delay from making PR is very high about 84% and for PO the delay takes 73%. With these facts that procurement department has very high delay in making PR and PO, PT Xwants to solve this problem by identify waste that happen in procurement department, so it will decrease the lead time in procurement department. The first stage in the application of value stream mapping is the Current State Mapping, this stage can illustrates the real condition of procurement department processes along with lead time of any such process. The second stage is analysis current value steam mapping, in this stage all waste is identified and resolved. The final stage is, Future State Mapping in this process produce a new process and a new lead time. Based on current Value Stream Mapping, it is found three category wastes there are over processing, waiting time, and unnecessary movement (motion). The solution provided to reduce the waste are cleaned-up SAP data, standardization of writing material, format Quotation and RFQ, procurement check point and email reminders. Solution that has been given can minimize waste and lead time and will reflect in future state mapping. By making Future state value stream mapping based on the solutions that have been given can reduce the total lead time. Total lead time in procurement department was reduced by 39%. Total lead time can decrease 19 days with average lead time 49 days for the current VSM decrease into 30 days for future VSM.Keywords:  Value Stream Mapping, Waste, Lead time, procurement department, Aircraft Industry
Strategic Formulation and Implementation of Drive Thru Service in Convenience Store Fahmi, Fadhil; Wandebori, Harimukti
Journal of Business and Management Vol 2, No 4 (2013)
Publisher : Journal of Business and Management

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Abstract

This paper explains about the measurement of drive thru service importance on fast food restaurant business than others service. It will compared the revenue generated from drive thru service, numbers of drive thru customers, and also find out most important aspect of drive thru from customers perspective. This research use primary data from McDonald’s Dago, and also secondary data from the QSR 2012 study.--------------------------DISCLAMER: This paper is created by undergraduate students of School of Business and Management ITB in partial fulfillment of the requirement of the degree Bachelor of Management. Journal of Business and Management is not responsible for the content, opinions, or any other materials expressed here.
BUSINESS PLAN OF MAKE UP ARTIST BYGITAHRS Haris, A Gita Namira Patigana; Iskandar, Budi Permadi
Journal of Business and Management Vol 7, No 1 (2018)
Publisher : Journal of Business and Management

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Abstract

Abstract. Make-up artist is one of the business that nowadays have a high demand in the market. Nowadays there are so many new make-up artist comes up in the market. Bygitahrs is one of the new makeup artist in Bandung. Because there are so many competitors, Bygitahrs wishes to gain more sales and make their market share bigger by taking competitive advantage. Before the business can go further and create a business plan, it must do some analysis. This analysis is to identify the problems which they are currently facing or will face in the future. The purpose of this study is to prepare and create a business plan that can be simply applied by Bygitahrs. The preparation step of the business plan is started by doing company analysis, market analysis, and competitors analysis which are based on primary research and secondary research, but mostly build upon the primary research, The data from the analysis will be used to process a new strategy for the business. The strategy used is growth hacking strategy because it is found to make the business more effective and be able to grow significantly in a short period. The list of programs, which planned specifically already are photoshoot, upgrading skills, regular post, endorsement, giveaway, cashback, collaboration, tutorial make up, and insta-story sharing This business plan will use Rp24.500.000. from Bygitahrs’s profit in 2017. After sort of calculation, Bygitahrs will have Rp315.000.000 of Gross Profit and Rp138.400.000 as the Total Expense. By the end of December 2018, Bygitahrs will get Rp176.600.000 as her Net Profit. Keywords: Make Up Artist, Business Plan, Growth Hacking
DETERMINANTS OF LOAN LOSS PROVISION USING BANK-SPECIFIC VARIABLES AND MACRO ECONOMIC FACTORS: CASE STUDY ON 19 COMMERCIAL BANKS IN INDONESIA PERIOD 2008-2017 Fauziyah, Dini; Anggono, Achmad Herlanto
Journal of Business and Management Vol 7, No 3 (2018)
Publisher : Journal of Business and Management

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Abstract

Abstract.Bank in distributing loans is inseparable from the risk of impairment and uncollectible, therefore banks must anticipate these risks by preparing funds, known as Loan Loss Provision (LLP). The increase or decrease of LLP during the period of 2008 to 2017 can indicate a problem that can affect the sustainability of the banking industry and even further the country. Therefore, this research was conducted with the aim to figure out the variables that influence the increase and decrease in Loan Loss Provision. The data collected are the financial report of 19 banks which categorized in the BACB 3 and BACB 4 that obtained from the Financial Services Authority (OJK) and macroeconomic data obtained from Bank Indonesia during the first quarter of 2008 to the fourth quarter of 2017. The EGLS Panel (cross-section weight) is used to analyse the data. Regression results for six independent variables showed that two of those variables are not significant to Loan Loss Provision, namely Loan Ratio to Deposit and Growth of Gross Domestic Product. Non-Performing Loan, Capital Adequacy Ratio have a significant positive impact on Loan Loss Provision, while Bank Size and Inflation have a significant negative impact on Loan Loss Provision.Keywords: BACB, Bank, CKPN, Loan Loss Provisions, Panel Data Regression.
Feasibility Study Downstream Facility for Bacillus Calmette Guerin (BCG) Project of PT. Biofarma Adiningrum, Anisa; Sukarno, Subiakto
Journal of Business and Management Vol 4, No 7 (2015)
Publisher : Journal of Business and Management

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Abstract

Abstract. BFM has been constantly striving to discover new vaccines for more than 123 years, in order to eradicate communicable diseases that continue to grow and threaten the humans’ health. Therefore, this research has the objective to conduct a conclusion whether the replacement production line of Bacillus Calmette Guerin (BCG) is feasible or not. Bacillus Calmette Guerin (BCG) is known as freeze-dried vaccine which contains live attenuated of Mycobacterium Bovis, Paris strain. Nowadays the process of production BCG will replace by new technology because of increased demand. Theories and methods in this research are cash flow, Net Present Value (NPV), Internal Rate of Return (IRR), Payback Period (PBP), and sensitivity analysis. The result of this project indicates the feasibility of the project and the benefit of the project for PT. BFM. Based on the positive NPV, greater IRR when compared with WACC, and shorter payback period when compared with the project economical life, this project is economically feasible. Keywords: Cash Flow, NPV, IRR, Payback Period, Sensitivity Analysis

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