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INDONESIA
The Indonesian Journal of Business Administration
Published by Institut Teknologi Bandung
ISSN : -     EISSN : -     DOI : -
Core Subject : Science,
Decision Sciences, Operations Research & Management
The Indonesia Journal of Business Administration(IJBA) is a business journal that bridges the gap between business research and practice, evaluating and reporting on new research to help readers identify and understand significant trends in their fields. The IJBA seeks to publish papers relating to business, broadly defined. It publishes articles that address both theoretical and practical issues in the broad areas of Business Strategy and Marketing, People and Knowledge Management, Entrepreneurship and Technology Management, Decision Making and Strategic Negotiation, Operation and Performance Management, and Business Risk and Finance.Contributing academicians and researchers are encouraged to address a variety of concerns relating to all areas of business. We also encourage students to use an interdisciplinary approach to analyzing a topic, which often yields interesting and novel papers. The published articles provide valuable insight into matters of broad intellectual and practical concern to academicians and business professionals. The Journalis published three times a year: in April, July and October. The journal is mainly an outlet of MBA ITB students to publish their final project works, although it also accepts articles written by students at masters level from other institutions. A published paper is an honor that will be unambiguously beneficial for professional and academic careers, especially for those who want to attend graduate/professional schools. This means that papers written in relations to Accounting, Economics, Finance, Marketing, Management, Operations Management, Information Systems, Business Law, Corporate Ethics, and Public Policy all qualify for submission. Information on the journal format can be found in the journal's website. The number of pages must be at 10 pages. After published, the journal article will be available electronically at the journal's website. Print ISSN: 2252-3464; Online ISSN: 2252-9284
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Search results for , issue "Vol 1, No 9 (2012)" : 11 Documents clear
Maitre Pan Lubricant Market Penetration Strategy in Eastern Australia Permana, Sidi Sidik; Nasution, Reza Ashari
The Indonesian Journal of Business Administration Vol 1, No 9 (2012)
Publisher : The Indonesian Journal of Business Administration

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Abstract

MAITRE PAN Lubricant is the subsidiary of PT.MAITRE PAN, manufacturing and distributing high-quality lubricant to both the automotive and industrial customers. Over the years,  MAITRE PAN Lubricant have expanded their business, exporting their product to other country such as Japan, China, and many other. In 2009, MAITRE PAN Lubricant enters the Australian market by exporting their product using country distributor called the Indolubricant. Facing many challenges from the market, MAITRE PAN Lubricant is now looking to penetrate the Australian market by focusing on the eastern region of Australia, finding the right market penetration strategy is the key to MAITRE PAN Lubricant’s success.The market penetration strategy can be used to increase sales of the company’s existing product in the existing market, the increase of sales can be done by increasing the customer’s purchase, increase the customer’s volume of use of the product, or finding new uses for the existing product.In order to know which strategy that can be recommended for MAITRE PAN Lubricant, we will analyze the market attractiveness of Eastern Australia and the competitive advantage of MAITRE PAN Lubricant, we will also see the macro condition factor of Australia that will affect the lubricant business, the purpose of the analysis is to find the strength, weakness, opportunities and challenge of MAITRE PAN Lubricant in the market. The method that we are going to use is literature study, in-depth interview, and acquiring and analyzing secondary data.The result of the analysis will show us that there is a potential opportunity in the Eastern Australia’s mining and agricultural industry segment for lubricant; this is due to the growth of both of those industries. The recommended strategy to approach the segments is the flanking and guerilla strategy.The flanking strategies are including the development of new product, lobbying, and adding new distribution channel, guerilla strategies are customer relationship management, website improvement, and marketing program initiative. Each of those strategies has their own implementation steps and the implementation time’s estimation is one year starting from July 2012.   Keywords: market penetration, lubricant flanking, guerilla
A Proposal To Improve Depot Cikampek Social Performance Under Operational Cooperation (KSO) PT Pertamina Patra Niaga As an Effort in Achieving Sustainable Development Performance Satya, Healthias; Rudito, Bambang
The Indonesian Journal of Business Administration Vol 1, No 9 (2012)
Publisher : The Indonesian Journal of Business Administration

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Abstract

Pertamina’s performance in fuel distribution has been judged incompetent in serving fuel stations. Fuel distribution performance degradation can be seen from the fuel stations complaints about the delivery delays, the inaccuracy number of fuel delivered, and poor quality of fuel delivered. There are several issues that cause this, one of them is Depot Cikampek social performance imbalance performance due to the low level of employees’ trust, sense of belonging, communication, and engagement as indicated by: fuel tanker fleets protest, boycott and fraudulent behavior, and others employees disorderly. Pertamina Patra Niaga as a holder of Pertamina’s depots Operational Cooperation/Kerja Sama Operasi (KSO) agreement has responsibility to the situation.In order to always meet national energy needs, Pertamina and the entire business line include Depot Cikampek required to achieve sustainable development. Using Good Corporate Governance (GCG) as a universal structures and processes for the direction and control of companies that moves towards sustainable development can be found the root causes that causes an imbalance in Depot Cikampek social performance due to the low level of employees’ trust, sense of belonging, communication, and engagement. Root causes analysis conducted through qualitative in-depth interviews with relevant parties by comparing the ideal condition with the actual condition in depot.Based on the analysis, the root cause of the problem found is lack of Good Corporate (GCG) principles implementation as indicated by many provisions of those principles that are not well implemented in Depot Cikampek. Good Corporate (GCG) principles that are not well implemented are the provisions in GCG principles: Transparency, Accountability, Responsibility, and Fairness. Based on the existing root causes, there are several proposed solutions that recommended improving Depot Cikampek social performance in order to achieve sustainable development. The proposed solutions are: generate Global Reporting Initiative (GRI) sustainability reporting that publicly reported; generate the stakeholder engagement; implement Knowledge management system; develop, embedded, and integrate human rights policies in Depot Cikampek business management; and finally establish the public affair management as part of organization structure. Those solution aims to increase employees’ engagement, sense of belonging, and level of trust to the depot management that can improve Depot Cikampek social performance. Keywords: Good Corporate Governance (GCG), Fuel Depot Cikampek, Pertamina Patra Niaga, social performance, sustainable development, company governance, sustainability reporting, Global Reporting Initiative (GRI).
Strategy and Culture Alignment by Means of an Organizational Model at PT Pos Indonesia Rural Logistic Project Wismakumara, Ratri Vibhuti Widyasari; Welly, John
The Indonesian Journal of Business Administration Vol 1, No 9 (2012)
Publisher : The Indonesian Journal of Business Administration

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Abstract

PT Pos Indonesia is going to develop a new project in order to reposition their current core business, called The Rural Logistic Project. This project will integrate all of the PT Pos Indonesia core business. One of the thing that might support The Rural Logistic Project performance is the culture transformation. Here, by using the organizational model which is the 7-S Framework, it can be defined what type of culture that will fit The Rural Logistic Project. Other tools which also help to measure the identification of the culture are the strategy map and the OCAI. The tools giving the result that the suitable culture is the Market culture. There are also several additional values that can be combine with the existing corporate values which is the CINTA POS.  Keywords : culture, business reposition, organizational model, PT Pos Indonesia, rural logistic project
Investment Analysis on Goat and Sheep Fattening Project Based on the New Food Fermentation Farming Method (3F Method) Ferbrianno, Erlangga; Siahaan, Uke MMP
The Indonesian Journal of Business Administration Vol 1, No 9 (2012)
Publisher : The Indonesian Journal of Business Administration

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Abstract

Goat and sheep fattening is not a popular business in Indonesia. Farmers only see this kind of business as a side income for them. The only breed 3-10 goat or sheep at one time and use traditional way in fattened the goat and sheep. This is happened because the farmer need a long time to fattened the goat and sheep, lack of capital of resources (pertanian, 2007). In order to solve the lack of capital problem, nucleus plasma is scheme can be used. This scheme can bridge the farmers (plasma) and the investors (nucleus). The farmers provide land and barn and the investors can provide another facility needed and also guiding the farmer in the fattening process. Before applying the scheme an agreement should be made between two parties about the rights and obligations of both parties, including the selling price from the plasma to the nucleus. Food fermentation farming (3F) method, a new method in goat and sheep fattening need less time, increase the goat weight fast, keep the barn not smelly try to apply in order to overcome the disadvantage in traditional method and to overcome the lack of resources problem. Investor has two places ready to run this project, Cihanjuang and Camp Hulu Cai. Investor wants to see which place is feasible and more profitable by technical analysis and investment performance analysis such as Net Present Value (NPV), Internal Rate of Return (IRR), Pay Back Period (PBP), Return on Investment (ROI), and Return on Equity (ROE). Based on technical analysis, the environment condition in Cihanjuang is not suitable because of its location near to residential area and it is also hard to find source of food. The other place, Camp Hulu Cai, is located far from residential area and near to the source of food. After the technical analysis, Camp Hulu Cai is the only suitable place for the goat and sheep fattening project. Based on the calculation of investment performance analysis its NPV is above 0, the IRR is greater than the weighted average cost of capital. In conclusion Camp Hulu Cai is the most feasible place to implement this project both technically and financially. Keywords: goat, sheep, fermentation, investment, NPV, IRR, PBP,ROE, ROI.
Banking Acquisition Model for Bank BJB(Case Study Acquisition of PD. BPR LPK in West Java) Raisha, Raisha; Anggono, Achmad Herlanto
The Indonesian Journal of Business Administration Vol 1, No 9 (2012)
Publisher : The Indonesian Journal of Business Administration

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Abstract

To facilitate the credit loans for micro, small, and medium enterprise, the Government of West Java encourage the unification of business between PT. Bank Pembangunan Daerah Jawa Barat dan Banten (BJB) with PD. Bank Perkreditan Rakyat Lembaga Perkreditan Kecamatan (PD. BPR LPK). The Regulation of West Java Province No. 30 0f 2010 stated that BJB should increase their share ownership in PD. BPR LPK to 51%. BJB must do the acquisition of all PD. BPR LPK in West Java. The acquisition is in line with BJB’s plan to expand their bank’s network and credits. The analysis was carried upon twenty-one PD. BPR LPK in Cianjur, Garut, and Subang Regency. Before the acquisition, due diligence is conducted to assess the level of bank soundness. BJB will only acquire PD. BPR LPK that at least have moderately healthy predicate. To determine the acquisition cost, the valuations of company’s asset were done using book value valuation method. There are two scenarios that can be used as an acquisition model. In scenario A, BJB directly acquire all of the twenty-one PD. BPR LPK. In scenario B, each PD. BPR LPK in the same regency first conducting a merger, afterwards BJB will perform the acquisition of all merged PD. BPR LPK. The acquisition cost in scenario B is greater than the acquisition cost in scenario A, but scenario B has more bank networks. Scenario B is chosen with the total cost of acquisition Rp18,184,774,278. Keywords: PD. BPR LPK, acquisition, merger, bank soundness, book value valuation method
Knowledge Management Maturity Level Assessment ((Case Study Of PT. XYZ) Ramadhani, Sigit; Tjakraatmadja, Jann Hidajat
The Indonesian Journal of Business Administration Vol 1, No 9 (2012)
Publisher : The Indonesian Journal of Business Administration

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Abstract

Knowledge Management nowadays is largely implemented in every organization and often mentioned in publications, but little shows about the relation with the organization performance itself. KM in XYZ has been started in 2008, at least since a global team under HR organization was established. Some KM initiatives were born by the team. But some sample conditions shows otherwise. This study helps to explain the use of KM assessment and the important factors to be improved in relation with the organization performance. This study utilizes APO’s approach in assessing the organization KM maturity level through qualitative survey. Analysis of this research shows the different maturity level for each type of gender, age, and position in the organization and taken further to see the relation with the organization performance from its financial reports. Keywords: APO, knowledge management, level, maturity.
Inventory Planning for Formula & Enteral Food Supply at Hasan Sadikin Hospital Ardani, Muhamad; Simatupang, Togar M
The Indonesian Journal of Business Administration Vol 1, No 9 (2012)
Publisher : The Indonesian Journal of Business Administration

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Abstract

Nutrition Installation is a unit in hospital that manage nutrition service effectively and efficiently with optimal quality, including procurement, management, and distribution of food, nutrition therapy and nutrition counseling, as well as education and training (Health Ministry of Republic Indonesia). In providing food services for hospital customers, Nutrition Installation experiencing an overstock and stock out problems in formula & enteral food at daily warehouses as Nutrition Installation’s main warehouses.This research will discuss the improvement of inventory planning in main items of formula & enteral food at Nutrition Installation’s daily warehouses. Up until now, inventory planning of formula & enteral food based solely on intuition. This has become main cause of overstock and stockout condition in formula & enteral food.Inventory management that proposed in this final project is fixed order quantity with safety stock using forecasted demand. Forecasted demand is obtained by comparing several methods of forecasting; and from these several methods, exponential smoothing is the best forecasting method because has smallest value of error compared to the other methods. Therefore exponential smoothing method is suitable method to forecast the demand from each items of formula & enteral food supply.The reasult of the research in this final project is a saving from inventory cost about 70,78% a year for Ensure, 48,56% a year for Vitaplus, 62,19% a year for Entrasol, 64,95% a year for Peptisol, 80,21% a year for Pan Enteral, 75,16% a year for Peptamen, 67,33% a year for Pediasure, and 66,14% a year for Anlene; which is 66,80% potential saving from total inventory cost of formula & enteral food supply in one year period.In order to implement inventory management based on inventory planning that appropriate with demand characteristic, there are several steps that will involve related division in Nutrition Installation. First, conducted forecasting training by using calculation technique and computerized calculation using Mocrosoft Excell program. The next step is testing the inventory planning by monitoring the demand’s trend for 2 months and continue evaluation from this test begins.   Keywords: Formula & Enteral Food, Overstock, Stock out, Nutrition Installation, Demand, Forecasting, Fixed Order Quantity with Safety Stock
The Proposal of Co-Branding Strategy PT. XYZ and SAS in Automotive Sector in SPAIN Market to Increase PT. XYZ Reputation in International Market Putra A, Freggy Griyatta; Nasution, Reza Ashari
The Indonesian Journal of Business Administration Vol 1, No 9 (2012)
Publisher : The Indonesian Journal of Business Administration

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The development of the lubricant market in the Asia-Pacific, Africa, Middle East, and South America is an opportunity for PT.XYZ in the future. PT. XYZ wants to improve their brand image through co-branding with the SAS company as one of the local oil company in Spain. The study also analyzes the co-branding strategy through Joint Venture of PT. XYZ with SAS to improve the company's brand image in the international market. The conceptual framework of this research started from the goal of PT. XYZ to increase the brand image in the international market. The author analyzes the Joint Venture form between PT. XYZ with SAS and the alternatives that could be run by both companies thus this research recommends the most effective co-branding form for the PT. XYZ and SAS. The result of analysis of Joint Venture states that it is the most effective collaboration to increase the brand image of the PT. XYZ in the international market. However, the economic crisis in Spain made the Joint Venture form is more risky. Therefore, the author conducted an analysis of alternative forms of co-branding that can be run among Ingredient Branding, Product Creation, Promotion Joint, Joint Marketing, Branding and Joint by using Advantages and Disadvantages method. The result of the analysis states that the Ingredient Branding is the most effective alternative for current situation. In implementing the Ingredient Branding strategy, the research recommends the most appropriate alternative of Ingredient Branding strategy, canvas business model and implementation activity that can be run by PT. XYZ. Keywords: Co-branding, Joint Venture, Ingredient Branding.
Analysis of Bank Holding Company Towards State-Owned Banks in Compliance with Single Presence Policy
The Indonesian Journal of Business Administration Vol 1, No 9 (2012)
Publisher : The Indonesian Journal of Business Administration

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Abstract

In order to establish a solid and stabile banking system, improve affectivity in monitoring role and preparation before the implementation of Basel III regulation, Bank Indonesia implemented policy to regulate ownership of banks which operate in Indonesia. The policy stated that one single that one single entity is restricted to solely holds majority share of more than one bank. This regulation also applies to four state-owned banks (BNI, Bank Mandiri, BRI, and BTN) which majority shareholders for those banks is the government of Indonesia. On February 2011, ministry of BUMN decided to operate a virtual holding in order to comply with PBI No. 8/16/PBI/2006. This study focus on the form of the holding company, scrutinizing the impact of current operating holding company, towards the functioning of its subsidiaries, the four state-owned banks, and towards the implementation of minimum capital adequacy ratio in accordance to Basel III.  With the purpose to identify the impact of virtual holding existences, the valuation performed prior to and after the virtual holding company operates, resulting from discounted cash flow to equity method Vbefore for BNI; Bank Mandiri; BRI and  BTN is 79 trillion rupiah; 143 trillion rupiah; 285 trillion rupiah and 7.420 trillion rupiah and Vafterfor BNI; Bank Mandiri; BRI and BTN is 92 trillion rupiah; 163 trillion rupiah; 288 trillion rupiah; and 7.286 trillion rupiah. The result of the valuation demonstrates that thre is insignificant increase of value upon each of four banks. Whereas to observe the capital adequacy, projected CAR analysis for 8 years was performed towards four state-owned banks. The projection resulting two of four banks’ CAR will be far bellow minimum capital adequacy requirement as regulated by Basel III. With CAR level in 2019 of 19.64% for BNI, 7.57% for Bank Mandiri, 10,05% for BRI, and 13,26% for BTN. Based on the calculation, the role of virtual holding company remains unsupportive upon performance of capital adequacy in accordance to Basel III for four state-owned banks. Therefore, the form of virtual holding company should be replaced by a fully functioned holding company. Within the implementation of fully function holding company formation, government through ministry of state owned companies ought to prepare one entity as a holding company for the four state-owned banks, appoint which choosen state-owned bank to take the role as holding company, perform share-swarp, complete the firm formation procedure as holding company, and form a organization structure. Keywords: single presence policy, bank holding company, bank valuation, Basel III.
Stock Option Return Analysis at Indonesia Stock Exchange: An Empirical Study using One Touch Barrier and Black Scholes Model Period 2007 – 2011
The Indonesian Journal of Business Administration Vol 1, No 9 (2012)
Publisher : The Indonesian Journal of Business Administration

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Stock option is one of the option contracts which use stock as the underlying assets.Stock option itself has been traded in Indonesia at Indonesia Stock Exchange (IDX)  with  four  stocks  that  could  be  traded  for  stock options and they are PT Astra International Tbk (ASII), PT Bank Central Asia Tbk (BBCA), PT Indofood SuksesMakmurTbk (INDF), dan PT Telekomunikasi Indonesia Tbk (TLKM).Indonesia option can be considered as an American style barrier option with automatically exercise if the price hitsthe barrier level before  maturity.  Indonesia  stock  option  trading activity experienced the void trading in 2006, 2009, 2010 until 2011 and could be concluded that market is not attracted to this investment. The option exercise mechanism seems do not match with the expectation of investors. IDX should consider about other stock option trading mechanism and also other situations related to stock option that could attract market to invest in stock option. Keywords: Investment, Stock Option, One Touch Barrier, Black Scholes, Indonesian Option

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