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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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Valuation of PT Bank Tabungan Negara(Persero) TBK for Acquistion Zuhrah, Fatimah Nur; Aliludin, Arson
Journal of Business and Management Vol 3, No 5 (2014)
Publisher : Journal of Business and Management

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Abstract

The purpose of this final project is to estimate the company value of PT Bank Tabungan Negara (Persero) Tbk or BTN as short, which is an Indonesian government-owned Bank in the form of a limited liability company and is engaged in the country’s mortgage loans sector, housing, banking financial services and Islamic banking. Its vision is to be the leading bank in housing finance in Indonesia. At the beginning of February 2014 there was an issue that PT Bank Tabungan Negara (Persero) Tbk or BTN will be acquired. Many banks were deemed to acquire BTN, but Bank Mandiri shows the most interest. Although the plans of acquiring BTN by Bank Mandiri were recently informed to have failed, Bank Mandiri claimed to still hold interest to acquire BTN and that the acquisition is highly possible even if it doesn’t happen in year 2014. In 2013, BTN was reviewed to have shown good performance in the business, but unexpectedly news about BTN going to be acquisitioned arise. Some viewed that the acquisition is not necessary. Up until now there are no banks that have a good position like BTN who focuses well on housing finance for the middle to low class market. The process of acquisition by another bank with a different business focus would make BTN lose its core focus; as a fact BTN now controls nearly 98% lower intermediate housing market. Therefore, the purpose of this final project is to examine the company value of BTN assuming it will be acquisitioned. The author will use valuation using numbers from BTN’s financial report and a review of its financial performance from year 2009 to 2013 using the valuation principles and methods specifically for valuing Banks which are: dividend discount model, cash flow to equity model, excess return model and relative valuation model. The values of equity per share generated from all four models respectively are Rp 823, Rp 1,489, Rp 857, Rp 869 compared to the actual market value per share of BTN by the end of year 2013 of Rp 870. Seeing that in actual BTN is currently performing well in the stock exchange, there is no need for an acquisition. Merely based on the calculations in this research, BTN is actually worth below its market value which is an advantage for the acquirer.
Economical Feasibility Study of SAGARA UPALA Hotel Construction in Pangandaran Rasyid, Adhytia Azhari; Aliludin, Arson
Journal of Business and Management Vol 4, No 1 (2015)
Publisher : Journal of Business and Management

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Abstract

Abstract- Any investations are hopefully make a positive return in long term or mid term, but it is always have risk when you spend a money for investation.This research aimed to find the investment feasibility of the company project  so the company can make the correct decision for the investment plan. To solve the problem this research calculate the value of Net Present Value (NPV), investment Interest Rate of Return (IRR), the Investment Payback Period (PBP) of the project The object of this research is a hotel construction in Pangandaran beach, Jawa Barat, Indonesia by PT Graha Mitra Properti. The project will stated as feasible if the Net Present Value (NPV) is higher than 0 (NPV>0) and the Interest Rate of Return (IRR) is higher than the rate of return. The lifetime of this project is 30 years. This research will only explain economical feasibility study based on investment, cash inflow and cash outflow and there are several assumption in this research to limit the the scope of the final project. Keywords: B2B marketing, e-commerce, technology acceptance model (TAM), consumer behavior, building material 
MEASURING CUSTOMER GAP IN GEROBAK BETAWI TAMAN RATU, JAKARTA BARAT Wiranata, David Anugrah; Suharto, Yulianto
Journal of Business and Management Vol 7, No 3 (2018)
Publisher : Journal of Business and Management

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Abstract

Abstract. Gerobak Betawi Taman Ratu as one of the 4 branches of Gerobak Betawi restaurant. Is a restaurant that specialized in serving Indonesia ethnic food. With the increasing number of restaurants that specialized in the same type of food, Gerobak Betawi feels they need to have an advantage that will make them stand out from their competitor. This research use SERVQUAL method for measuring the service quality of Gerobak Betawi Taman Ratu. It is presented in the questionnaire survey which is a qualitative method. The paper will be focusing on service quality and customer gap. Based on the study, it shows that not all of the dimensions are negative. Two out of five dimensions got positive gap. Gerobak Betawi need to improve their service quality by prioritizing the dimension with the negative gap. And the service quality is still in the zone of tolerance of their customer. From the result of the study there are some recommendation that could be made. The recommendation will be some things that they could do differently or new thing they need to implement in their restaurant. This study will help them to know better their current service quality from the perspective of their customer.Keywords: customer gap, restaurant, service quality, SERVQUAL, zone of tolerance
Inventory Management in Non-Food Convenience Store Harun, Hanif Rahman; Mulyono, Nur Budi
Journal of Business and Management Vol 5, No 6 (2016)
Publisher : Journal of Business and Management

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Abstract

Abstract. Retail is one of the promising business sectors to run in Indonesia. Nowadays, small size retail stores such as minimarkets is counted as largely growing business in Indonesia. Along with its rapid growth, retail businesses face many problems. One of the most complicated problems in this business sector is overstocking and under stocking of inventory that may happen at the same period. PT. Idola Jaya Semesta, a growing non-food convenience store, faces this inventory problem. This research aims to get the best inventory policy for PT. Idola Jaya Semesta. The sample data to be analyzed is limited to the best-selling category which is stationary, and focused on the top ten most overstocked items by percentage in a random retail store, which is the retail store in Bintaro. The data of the inventory report in the central store and distribution center is employed as a basis data of the research. The researchers used probabilistic method and economic order quantity model to analyze the inventory practices and to propose a solution. The result of this research is an inventory policy (maximum inventory level and reorder point) that avoid those problems and maximize profit. The research founds that using EOQ results in the lowest total inventory cost for the company, it is around IDR 4 million rupiahs cheaper than the current policy in a course of a year. However the current existing “TSM” policy of the company results in the lowest under stocking cost by IDR 68,308, not a very significant amount. In the long term the EOQ policy results in better to be used as it rises, the profitability ratio in the next 5 years using Monte Carlo Simulation for the items that have a yearly demand of over 100, but with the TSM policy it is better to use with items that have a yearly demand below 100. Ultimately, the best solution is to use the EOQ policy because it has the lowest total inventory cost and the profitability ratio of items with a yearly demand below 100 is not very significant for the company’s total profit. By using the sensitivity analysis, it is also more reliable to use the EOQ policy, when compared to the current existing TSM policy, as it is less sensitive to a change in demand compared to the current policy. The implementation plan for the company is very simple, the company employed a software engineer to create the software used to determine how much to order and the point of reorder, the company’s software engineer needs to simply change the formula of the current policy to the EOQ policy within the software program codes. Since the software is a form of digital media, it can be applied fast and at a low cost.Keywords: Inventory Management; Economic Order Quantity; Re-order Point; Non-Food; Convenience Store;Retail
Aggreate Planning Strategies at CV Saswco Perdana Cashiwan, Cashiwan; Yudoko, Gatot
Journal of Business and Management Vol 5, No 2 (2016)
Publisher : Journal of Business and Management

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Abstract

Abstract. CV Saswco Perdana is a company engaged in clothing industry that located in Gedebage, Bandung. CV Saswco Perdana is a company with medium-large industrial scale. The current condition of the company, they manufactured product in based on order.Based on interview with General Manager of CV Saswco Perdana. Currently the company has 50 employee that work in production division with total capacity can reach 2.500 dozens per month. Otherwise, based on previous data the average demand for 2014 is 730,76 dozens per month and for 2015 the average of demand is 596,94 dozens per month. According to those situation, there is a high level of idle workers that can be occur. So, the company needs to adjusting their workers in order to optimizing their resources and minimizing the total cost. And one of the operations management’s tool that company can use is aggreate planning strategy. Because by using aggregate planning the company can determines the ideal levels of capacity, production, subcontracting, inventory, stockouts, and even pricing over a specified time horizon (for this research, the time horizon is among 12 months). The research aimed to know the best of aggregate planning strategy that can be implemented by CV Saswco Perdana in order to fulfill the forecasted demand in period 2016 from 5 alternative aggregate planning strategies that conducted in this research, which are: pure chase strategy, pure level strategy, overtime strategy, optimization using linear programming, and mix strategy by varying workforce and overtime, by minimizing unmeet demand and the low cost as key performance. The methodology used is quantitative method. Primary data are collected from interview with Operations Director and General Manager at CV Saswco Perdana. And secondary data is collected from company’s documents record. Based on all strategies that conducted, the workforce needed is less than 50 workers. Thus, the company needs to adjust their workforce by laying off some workers in order to maximize the resources. The strategy that has the lowest cost is optimization strategy using linear programming with estimation total full costs is Rp.2.407.306.752 and incremental cost is Rp.64.524.912. But, the current work-hour in CV Saswco Perdana is violate the existing of regulations. Especially “pasal 77 and pasal 78 UU no. 13 tahun 2003” about work-hour and overtime of labor. According to those situation, the author providing the alternative optimization strategy using linear programming with changing the variable of work-hour and overtime related to the regulations as a recommendation. The total cost for alternative optimization using linear programming is Rp.2.610.594.007 and the total incremental cost is Rp.69.464.160. Keywords: Demand, Forecast Demand, Optimization Resources, Aggregate Planning.
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
Mapping and Improving Employee Engagement Driver Factors at PT XYZ Mahardika, Bhaskara Putra; Gustomo, Aurik
Journal of Business and Management Vol 4, No 6 (2015)
Publisher : Journal of Business and Management

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Abstract

Abstract. PT. XYZ is a state-own oil and Gas Company of Indonesia. Founded in 13 September 2005, PT. XYZ is a company that runs an upstream business activity of oil and natural gas in Indonesia, covering exploration and exploitation. Based on PT. XYZ performance realization report, their employee engagement sector has scored 75% out of 100%. Based on that data, PT. XYZ left 25% room for improvement in Employee Engagement sector. The main point of this research is to mapping the employee engagement driver factor in the company in order to increase the employee engagement level of the company. In order to know which driver factor which have the most significant impact of the employee engagement, this research use a synthesis of employee engagement framework from ASTD, Gallup, and DDI. This research use questionnaire to gather the data and analyzed by SPSS. The result of this research was Job Fit became the most significant employee engagement driver factor in PT. XYZ. Based on that result, the suggestion plan for PT. XYZ was to apply the competency-based management and competency-based human resource to make a strong competency-based foundation in the company. Keywors : employee engagement, driver factor, employee performance, competency-based management, competency-based human resource.
Measuring the Effectiveness of XL Axiata's Twitter Account in Handling Customers Complaints Siregar, Adrian Irshadi; Iskandar, Budi Permadi
Journal of Business and Management Vol 1, No 5 (2012)
Publisher : Journal of Business and Management

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Abstract

Conventionally, customer service is an office branch where customers can get solutions regarding the provider’ troubled services. XL Axiata established such customer service, named XL Center, in three places, namely in Jalan Martadinata, Cimahi, and Buah Batu. The company also operates customer services in two malls, in Dukomsel and in Bandung Electronic Center (BEC). The customers, however, have to spend efforts, costs and time to get services there. In addition to conventional customer service, XL Axiata utilizes a new social media tool to provide such services. The firm became the first telco that realize the importance of new media in servicing its users.  In February 2012, it opened a Twitter account which specialized for customer service, named @XLCare. Unlike other telcos that treat its Twitter account only as a promotional tool, XL Axiata account is functioned as customer service. Besides @XLCare, XL Axiata has @XL123 as its promotional instrument. Both accounts allow the firm to have two ways interaction to its customers. Therefore, customers can access solutions through its personal gadgets, such as laptops, tablet PCs or smartphones. Purpose: The study objective is measuring the effectiveness of @XLCare in Serving Complaining Customers. The Twitter account effectiveness has been measured with three identifications, namely: a. Reverberation of Customers’ Voices. b. Satisfaction of Complaining Customers. c. Brand Switching Activities.Design/methodology/approach: The methodology of research included research framework and sampling method. The research framework is Complaints-XL Axiata Customer Care Responses-Satisfactory Level-Brand Switching with detailed method of collecting complaint information, respondent’s interview and interview result. The sampling method use Topsy.com as the tools to decide the population and Slovin Theory as the tools to decide the sample.Findings: There are six parts of data presented in the research. First part presents about the topics of respondent complaint with XL signal problem as the most reason (38 %). Second part presents about the types of @XLCare responses with direct message as the most type of response (73 %). Third part presents about the final thoughts of respondent about @XLCare with most thought is satisfied (26 %). Fourth part presents about the brand switching activity of respondents with most respondents not switched (79. %). Fifth part presents about the reasons of not-switched respondents with keeping number as identity as the most reason (24 %). Sixth part presents about the reasons of switched respondents with bad signal quality as the most reason (57 %).In general, @XLCare effectively response the complaining customers based on three aspects. First, the reverberation of customer voice with most complaining customers shared the experience with @XLCare (63 %). Second, the complaining customer’s satisfaction with most of final response is promoting the brand of @XLCare or XL Axiata (26 %). Third, the brand switching activity that most of complaining customers not switched to another brand (79 %). The recommendation included four aspects of technical issues recommendation, non-technical issues recommendation, service recovery development recommendation, and further study recommendation.Key Words: Marketing, Twitter, Social Media, Augmented Product, Customer Service, After Sale Service, XL Axiata.Category: Marketing.
THE CORRELATION OF EMPLOYEE EFFICIENCY AND ASSET GROWTH: CONVENTIONAL VS ISLAMIC BANKS IN INDONESIA FROM 2010 TO 2016 Khootimah, Chusnul; Faturohman, Taufik
Journal of Business and Management Vol 6, No 3 (2017)
Publisher : Journal of Business and Management

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Abstract

Abstract - There is no compatibility between the condition of the market share with its balance sheets and growth. According to Otoritas Jasa Keuangan (OJK), there is a slowing growth in Islamic banks. There is therefore a need for authorities to be aware of strategic issues that may inhibit the growth of Islamic banks in Indonesia. One of the strategic issues is the lack of human resources in Islamic banks, if we compare it to conventional banks. The aim of this study is to compare the efficiency of conventional and Islamic banks and the correlation of the efficiency and the asset growth from 2010-2016. The Variable Return to Scale (VRS) Data Envelopment Analysis (DEA) application is used to measure the efficiency. This measurement is based on the output orientation. For determining the significant difference between the efficiency of conventional bank and that of Islamic ones, Mann-Whitney test is employed. To determine the correlation between the efficiency and the asset growth of those two types of bank, Spearman correlation is used. The efficiency measurement is based on employee efficiency, which is calculated by considering the input and the output. Related to the input, the variables include number of employees and personnel expenses. For the output, those variables are loans, total deposits and Net Income Before Tax (NIBT).  The findings show that conventional banks have higher average of efficiency score than that of Islamic banks in 2010-2016 periods. Except in 2014, there is no statistical difference between Islamic and conventional banks. The statistical significant difference in the 2014 period shows that the technical efficiency of conventional banks is higher than that of Islamic banks. The findings indicate that the performance of Islamic banks is lower compared to the performance of conventional banks. Using Spearman correlation test, it shows that there is no correlation between the employee efficiency and the asset growth of all of those banks. The findings indicate that the employee efficiency is not the factor for increasing the asset growth of both conventional and Islamic banks. Because of that, the Islamic banks are as competitive as those conventional counterparts.  It is therefore expected that the Islamic banks can increase their number of customers/market share. Because this study only considers employee efficiency, it is suggested that future research is directed to evaluate efficiency by considering other stakeholders. Keywords: Islamic Bank, Conventional Bank, Employee Efficiency, Coefficient Correlation, Asset Growth.
Measurement Customer Satifaction Toward KEUKEN #5 - The City Hall Fairground Culinary Event Using Importance - Performance Analysis (IPA) Juandha, Try; Indriani, Mia Tantri Diah
Journal of Business and Management Vol 4, No 2 (2015)
Publisher : Journal of Business and Management

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Abstract

Abstract – The main theme of this research is Marketing and focus on measuring satisfaction level from Keuken #5 culinary event that organized by House The House based on Importance Performance Analysis (IPA). The IPA model which showed graphical representation of the data, whereby event organizations can see areas of strength and weakness from event attributes is divided into four quadrants, with importance on the y-axis and performance on the x-axis, according to Martilla and James the resources should be allocate to improve attributes that reside in quadrant I. The result of the  analysis showed the overall visitor satisfaction level for Keuken was scored 3.7 which reported between “Ok” and “Satisfied”. Convenient parking, food/beverages prices, and shopping attributes item are attributes which reside in quadrant I and  considered as main priority for improvement. Local food,  come and go, clean site, attractive environment, event guide, and opening/closing time, are attributes lay in quadrant II which considered as attributes that should be maintained. Entertainment and good local restaurant attributes lay in quadrant IV which are considered as attributes that possibly overkill. Celebrity chef demos, festival souvenir, and cooking demonstration attributes lay in quadrant III which considered as last priority.Keywords: Keuken, culinary event, customer satisfaction, Importance-Performance Analysis 

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