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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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The Effect of Foreign Direct Investment and Official Development Assistance to Human Development Index of Developing Countries at 2009-2013 Agusty, Gerry Julian; Damayanti, Sylviana Maya
Journal of Business and Management Vol 4, No 8 (2015)
Publisher : Journal of Business and Management

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Abstract

Abstract. Foreign Direct Investment (FDI) occurs when  a foreign firm from particular country invest in foreign country in purpose to develop their business even more global, meanwhile Official Development Assistance (ODA) is another type of capital source that formed in loan in which will be given to the countries in DCA list. These two types of capital source have been playing important role in supporting development and human welfare in developing countries around the world. The human welfare dan development will be measured by Human Development Index (HDI) since this measurement is able to cover all aspects to measure human welfare and development in which have 3 dimensions: health that is measured by life expectancy, education that is measured by the education level achieved, and the last is the standard of living dimension that is measured by GNI per capita. The ODA inward amount alone that flow to developing countries for 2009-2013 reach the number of 700 million dollars, meanwhile the flow FDI reach the number of 5 billion dollars. This fantastic amount of money indicates that the demand for capital sources from foreign countries is still considered high. The tools that will be applied to find the effect of FDI and ODA is panel data regression analysis with purposive sampling to choose 124 countries as the samples. The findings of this research are: 1. FDI and ODA are proven to have significant effect to Human Development Index simultaneously 2. FDI and ODA are proven to have positive significant effect to Human Development Index partially with the number of R2 reaches 99% meaning that FDI and ODA can explain strongly its variance of HDI. This research can also be useful to consider the right type of capital sources or investmet that should be taken by a country in supporting development. Keywords:Foreign Direct Investment, Official Development Assistance, Developing Countries, Human Development Index, Statistics
Corporate Social Responsibility PT. Perkebunan Nusantara VIII, Case Study: Partnership Program in PKBL Priya, Evan Husada; Rudito, Bambang
Journal of Business and Management Vol 2, No 2 (2013)
Publisher : Journal of Business and Management

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Abstract

Indonesia is one of the largest countries in South East Asia both in terms of population density and the width of territory.  Unfortunately, the entrepreneurial percentage in this country represents only 1,56% of the total population while the ideal number of the entrepreneurial percentage is 2% or more. Indonesia is now ranked 115 in the world and 23 out of 41 countries in the Asia-Pacific region from the level of economy and entrepreneurial. PKBL is the BUMN Partnership Program that aims at empowering the society through the use of funds from the profits of BUMN that is set aside with the approval of the General Meeting of Shareholders of the BUMN. Total provision for income program funding is in the maximum of 2% (two percent) of the net profit for the Partnership Program (Program Kemitraan) and a maximum of 2% (two percent) of the net profit for the Community Development Program (Bina Lingkungan). PKBL is expected will increase the entrepreneur rate and also decrease the number of unemployment and poverty with its Partnership Program. The fund will use to help UKM to develop their business and became sustain. Because UKM in Indonesia has grown more and more, and has created a huge impact as a business unit in Indonesia as a business unit that has proportion about 98 percent of the total units in Indonesia and have absorbed approximately 88.6 million workers. The Purpose of this final project is to achieve evaluations for community development program of PT. Perkebunan Nusantara VIII which is Partnership program. This project purpose is to analyze the effectiveness of the program. The results of the program will also be analyzed to discover whether it is already accomplish its target or not.  Keyword: entrepreneur, corporate social responsibilities, small and medium enterprise
EFFICIENCY OF LOCAL GOVERNMENT AGAINST INDEKS DESA MEMBANGUN Pelawi, Florence Theodora Ersada; Prasetyo, Ahmad Danu
Journal of Business and Management Vol 6, No 3 (2017)
Publisher : Journal of Business and Management

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Abstract

Abstract. Nawa Cita is a program that made by President of Republic Indonesia, Bapak Joko Widodo, this program aims to transform Indonesia into a politically sovereign country, which is independent in economy and culture’s personality. Strengthening the regions and rurals in municipal is the strategy to make this program can be implemented. One of criterion that can be used to strengthen the rural development is rural index. There are not only 3 dimensions developing rural index that affect rural development include social, economy and ecology, but also local government is a factor in the process of developing rural area. Local governments can provide enormous benefits for rural development if the factors can be managed appropriately. So, this research is aimed to find rurals that have been effcient and have not been efficient in managing local government factors. The objects of this research are 345 rurals in municipal in Indonesia. This research uses input oriented Variable Return to Scale ( VRS) Data Envelopment Analysis ( DEA) model to measure the technical efficiencies of the rurals in municipal and Mann Whitney U – Test to hypothesis testing to examine the significance level of the efficiencies. Keywords: efficiency, Data Envelopment Analysis, developing rural index
Right Issue and Dilution Matters in Banking Equity Market: Study of PT Bank Mandiri (Persero) Tbk Albar, Arasyan; Nugroho, Anggoro Budi
Journal of Business and Management Vol 4, No 5 (2015)
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Abstract

Abstract. Banking industry has specific regulation on their capital requirements according to Basel Accord agreements that bank must keep their amount of capital balanced with the total risk assets in lots of requirement criteria especially Capital Adequacy Ratio (CAR). In order to fulfil this requirement, the only way banks could raise fund with capital is Initial Public Offering (IPO) for the unlisted company and Right Issue for listed company. Since PT. Bank Mandiri (Persero) Tbk, is the biggest assets bank in the country, the only way to rise this source funding is right issue if they want to maintain their amount of capital. Right issue is preemptive right for the investor to keep their ownership percentage to prevent it from share dilution as the company raised more shares to the market. However, not everyone is aware of the possibly wealth dilution as the rising amount of shares sold at the lower price where at this research commonly called “value dilution”. The research objective is to determine how variables in right issue are interacting, Bank Mandiri’s value of right issue and the value dilution as well (with comparison with similar industry at the same year), value dilution  factors that determine value dilution of right issue decisions, also the forecast of future right issue on Bank Mandiri’s plan in 2018. Theoretical right price and theoretical ex-right price have been used as the base of formula and calculation in the research developed with simulation of various number of independent variable such as subscription price and exchange ratio to find result in the correlation of these variables to the value dilution. Also, forecast of following Bank Mandiri’s right issue in 2018 used the same formula but through different process where the current price in the future has to be estimated first and the number of issued share has to be determine to forecast the possibly value dilution and choose the best combination of subscription price and exchange ratio. Findings on this research reveal that Bank Mandiri has the highest right value and total wealth value dilution among the other similar industry company that done the similar corporate action at the same year (2011, compared with Bank Bukopin, Bank Danamon, and Bank QNB) while the share exchange ratio (N) is determining factor for the value dilution as the new share calculation in fraction result will affect the existence of value dilution. If the N resulting fraction number of new shares, subscription price will make the bigger value dilution as it going lower than the current market share. However, despite of value dilution increase it makes the right value increasing as well. Recommendation of following right issue in 2018 for Bank Mandiri is they can set the price of the subscription price between Rp8,562 to Rp17,425 per share if assumed they raise the amount of new share same as the right issue before in 2011 where they issued 2.336 billion of shares (so the N would be 9.889). However if company decided not to raise the amount of share same as previous right issue, company can issue 1,538,461,538 shares (with ratio 100 for 1501 shares) with the subscription price in Rp13,000. Keywords: Right issue, Bank Mandiri, BMRI, Theoretical Right Price, Theoretical Ex-Right Price.
Marketing Strategy Analysis and Development of Artha Sari Catering Service Panengah, Andika Putra; Wandebori, Harimukti
Journal of Business and Management Vol 1, No 4 (2012)
Publisher : Journal of Business and Management

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Abstract

In Indonesia, especially in its capital city which is Jakarta, the business opportunities that emerged in culinary are taken by business people to build new catering businesses. Artha Sari Catering Service is a catering that provides catering and also floral services for all kinds of events in Jakarta with various kinds of menu packages. On 2010 and 2011, Artha Sari got most of its revenue from institutions/companies/firms, and since Artha Sari doesn’t have any effective marketing strategy yet, the owner wants to focus its marketing more to institutions/companies/firms to increase the company revenue. One of the main competitors of Artha Sari is Kiki Catering. Therefore, Artha Sari should focus more in serving Indonesian cuisines and improve those Indonesian cuisines’ taste and presentations, set fixed discounted prices for certain menus to their loyal customers, create a membership system the loyal customers and give them fixed discounted price, build more partnership with institutions, companies, and firms, do a follow up for order confirmation, always have staffs to stand by in the office to take the order, improve the appearance of the waiters, improve the overall quality of its table decorations and make them have more characteristic, improve the overall quality website, participate in catering seminars and exhibitions, and build more partnership with buildings and institutions.Purpose: The purpose of this research is to figure out the current marketing strategy of Artha Sari and then to develop the marketing strategy for Artha Sari.Design/methodology/approach: The theory used are Business Strategy which focused on Competitive Strategy by Michael E. Porter, Business Model by Osterwalder, and also marketing mix to analyze the current marketing strategy of Artha Sari, and then to develop the marketing strategy for Artha Sari. The analyses are the current condition and the segmentation analysis of both Artha Sari and its competitor, which is Kiki Catering, the Business Model for Artha Sari, in-depth interview to respondents from different institutions/companies/firms, and comparison analysis between those two caterings.Findings: The end of the research shows that Artha Sari focus in serving certain menu packages. The events that Artha Sari has served and the partnerships that Artha Sari made are fewer compared to Kiki Catering. Artha Sari’s current marketing strategy is it serves both individuals/personal and institutions/companies/firms, provides good taste and presentation quality of various menu packages, good quality and appearance of waiters, and beautiful table and floral decorations, uses website, brochures, and word of mouth for its promotions channel, and creates good relationships to all customers, from personal to company staffs by making phone calls and visits them directly. The strengths of Artha Sari compared to Kiki Catering, are in their product and price factors, and its weaknesses which are in their promotion, process and people factors.Research limitations/implications: This research only cover two companies which are Artha Sari and Kiki Catering that located on East Jakarta, and menus only focus on packages menus.Practical implications: The outcome of this research is Business Strategy in form of new business model for Artha Sari that focused on Marketing Strategy which will generate a differentiation between Artha Sari and its competitor.Social implications: With the conducted marketing strategy, Artha Sari could attract more customers.Originality/value: This research has an outcome which is marketing strategy that useful for a catering service that is still conventional.Keywords: Catering, Business Strategy, Business Model, Marketing MixCategory: Business Strategy; Marketing.
GAP ANALYSIS COMPARISON USING THE SERVQUAL MODEL FOR GO-RIDE SERVICE IN JAKARTA AND BANDUNG Maulida, Anyssa Satharina; Rustiadi, Sonny
Journal of Business and Management Vol 6, No 3 (2017)
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Abstract. Initial observation capture the opinion that there is service inequality of GO-RIDE service between Jakarta and Bandung and the fierce competition between the ride-hailing applications are the trigger for the researcher to conduct a service quality measurement. The use of SERVQUAL model by Parasuraman (1985) is used to capture the customer’s expectation and perception in both cities. A questionnaire of 69 items is distributed to the respondents who have experienced the GO-RIDE service both in Jakarta and Bandung and they are asked to assessed GO-RIDE service using the 7-likert scale three times, based on their expectation in general, their perception in Jakarta, and their perception in Bandung. From 385 respondents, the average score of customer’s expectation is 5.120, and perception in Jakarta and Bandung scores 4.799 and 4.806 respectively. The average score of customer gap is -0.321 in Jakarta and -0.314 in Bandung and 0.023 for the overall gap difference. All gaps are negative except for one item per each city. But the average of the overall gap and per dimension shows negative result, thus GO-JEK still needs to improve their quality of. The biggest contributing dimension to the gap is the Tangibles. Performance Management System is needed to ensure the competences of the driver regarding the GO-RIDE service. Keywords: Customer Gap, GO-JEK, Service Quality, SERVQUAL, Informal Public Transportation
The Construction of an Optimal balanced Fund Consisting Indonesian Stock and Bonds (Case Study: LQ45 Stocks and Government Bonds as of July 2009 - June 2014) Lontoh, Adellia Debyane; Anggono, Achmad Herlanto
Journal of Business and Management Vol 3, No 3 (2014)
Publisher : Journal of Business and Management

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Abstract

This study concerns about the optimization construction of a balanced fund consisting the LQ45 stocks and Indonesian Government Bonds, which also includes the assessment of each single asset risk-return tradeoff and the performance measurement of the constructed optimal balanced fund portfolio. The time scope of this study ranges as of 1 July 2009 to 30 June 2014. Several data required to conduct the analysis of this study that include the historical daily price of stocks, bonds, Jakarta Composite Index, and LQ45, as well as the monthly data of BI Rate as the risk-free rate used in this study. The selected stocks and bonds were further analyzed in the asset allocation as a part of the portfolio optimization, by attaining the possible maximum return at a given risk and the possible minimum variance at a given expected return, as refers to the Mean-Variance analysis in Markowitz Portfolio Theory. The Efficient Frontier was also constructed to ensure that the constructed portfolios lie in the Efficient Frontier. The constructed balanced fund was ultimately selected based on the 3 (three) measurement indices. The selected balanced fund was assessed to perform above the markets regarding its high return, Sharpe Ratio, and Treynor Index, as well as low standard deviation as below the JCI and LQ45, and Alpha that positively identified above the markets. The author believes this study may ensure readers to invest in balanced fund that provides minimum risk for certain return with high excess return.Keywords: Balanced Fund, Portfolio, Optimization, LQ45 Index, Stocks, Indonesian Government Bonds, Jakarta Composite Index, BI Rate, Mutual Fund, Markowitz Portfolio Theory
ANALYZING THE INFLUENCE OF LEADERSHIP STYLE TOWARD EMPLOYEE PERFORMANCE IN MAJESTIC EVENT ORGANIZER Ediwan, Meilia; Putranto, Nur Arief Rahmatsyah
Journal of Business and Management Vol 7, No 3 (2018)
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Abstract. One of the factors that influence employee performance is leadership style that is applied by the leader in its company. This research is conducted in Majestic Event Organizer. The employees feel dissatisfaction toward the authoritarian leadership style that has being implemented by the superior, thus their performance tend to be declining and below the standard. This research is conducted to identify the influence of transformational, transactional, authoritarian and laissez-faire leadership style towards the employee performance whether the influence is positive or negative. To collect the data, the researcher used quantitative approach by utilizing online questionnaire to 35 members. The next step is the researcher analyzed the data by Multiple Linear Regression. The result of this study support the hypothesis where the transformational, transactional and laissez-faire leadership has positive influence towards the employee performance. Meanwhile, authoritarian leadership has a negative influence towards the employee performance. However, the transactional and laissez-faire leadership have insignificant influence toward the employee performance while the transformational and authoritarian leadership have significant influence toward employee performance. This study gives recommendation to the superior to implement transformational leadership style based on the finding that transformational leadership able to give positive and significant influence for the employee performance.Keywords: Authoritarian Leadership Style, Employee Performance, Laissez-faire Leadership Style, Transactional Leadership Style, Transformational Leadership Style 
Feasibility Study Hakmaz Taba Syariah Hotel Cooperate with PT Grahawita Santika Maruszama, Mahfidarwan Akbar; Darmansyah, Asep
Journal of Business and Management Vol 5, No 4 (2016)
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Abstract.Hakmaz Taba Syariah Hotel is one of the hotels in Lubuklinggau who participate actively welcome the tourists who come to Lubuklinggau.Hakmaz Taba Syariah Hotel located at Jl. Yos Sudarso No 28 Lubuklinggau, South Sumatera, Indonesia. The hotel established since 1997. Hakmaz Taba Syariah Hotel is a hotel with the nuances of Islamic, elegant minimalist decor blends with local culture. The hotel has 48 rooms with facilities such as restaurant, cafe, swimming pool, children play ground, outdoor garden party, ballroom, ATM Center, and meeting room. There are a couple of things and the perceived problems that need to be repaired. Some of the problems being experienced are owner does not have experience in the hospitality sector, cause the hotel is not well controlled, the financial statements hotel is not recorded properly while already using the system / software, the marketing activity is not running, and the human resources are difficult to find in South Sumatra.Lubuklinggau have an interesting developments, competitors can lead to decreased number of occupancy of Hakmaz Taba Syariah Hotel. Because of it, the owners had approached and meetings with some of the operators of the hotel management, which are Starwoods Hotels, Swiss-Belhotel, Accor, Tauzia, Santika, and Dafam. The results of the meeting with the hotel management operator and conclusions given by the hotel owners indicate a match with PT Grahawita Santika (GWS). All problem identification in this paper will be solved using economical feasibility study.A business feasibility study can be defined as a controlled process for identifying problems and opportunities, determining objectives, describing situations, defining successful outcomes, and assesing the range of costs and benefits associated with several alternatives for solving a problem. This study is used to support the decision-making process based on a cost benefit analysis of the actual business or project viability.It should help the company to find out does this invesment is the correct decision to do. The author will take the approach of the financial feasibility of using several methods such as NPV and IRR calculation, assisted by a brief explanation of market feasibility and legal feasibility The theoritical framework of this final assignment is based on various source which are text books, internet data and secondary data that collected from the company. Those source are used to find some supportive theories, information, and data to accomplish this final project.Formula that could be supportive for this final project are Net Present Value (NPV), Internal Rate of Return (IRR), Weighted Average Cost of Capital (WACC), and other formulas that related to financial feasibility.After analyzing the initial investment, income statement, statement of cash flow of the project, Author finally meet the conclusion that the project is not feasible to do. The project stated not feasible because the Net Present Value of the project is negative, Payback Period occur in the 9th year, and the Internal Rate of Return are lower than the discount rate which is Weighted Average Cost of Capital. If the owners still have the desire to run the project, there are some things that need to be calculated.Keywords : Financial, Hotel, Investment, Tourism, Lubuklinggau, Indonesia, Feasibility
An Action Research to Map and Describe the Business Ecosystem of Muslim Fashion Industry in Bandung in Form of a Short Movie Monika, Gelda Sella; Lantu, Donald Crestofel
Journal of Business and Management Vol 4, No 10 (2015)
Publisher : Journal of Business and Management

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Abstract. Bandung has the vision to be the Muslim fashion Capital in 2020 since it has the strengths and opportunities for it.  However, this vision needs to be supported by the proper programs and strategy from collaborated elements in Quadro Helix which are the government, academicians, business players, and communities. Therefore, the business ecosystem needs to be described first in order to get the clear understanding of the current condition of Muslim fashion Industry in Bandung. Through a qualitative action research method, the author conducted the research to map and describe the business ecosystem of Muslim fashion industry in Bandung in form of a short movie. The short movie is purposed as an attractive learning tool that can inform and inspire those who want to start or already in Muslim fashion business. The decision to use short movie was based on some researches that show the use of film in education and it is based on the decision of CIEL SBM ITB as the problem owner.  Due to the limitation on research budget and time, this action research is only focused to create a project proposal of a short movie that includes story idea, screenplay and director’s treatment, without truly producing it. By using focus group discussion and semi-structured interviews, data is collected and analyzed by using narrative analysis method. As the result, the movie should fulfill the criteria: inspirational and educative, attractive to watch, and also beneficial to the sponsors. So, the author must develop the story idea become somewhat an appropriate screenplay and director’s treatment to match with those criteria. The content of the movie also must summarize the findings about the current condition of Muslim fashion industry in Bandung, and the role of each element in Quadro Helix model for the Muslim fashion industry. Last, the short movie must insert suggestion and the keys success for those who want to enter or already in the business as well.  Keywords: Business Ecosystem, Muslim Fashion Industry, Bandung, Action Research.

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