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The Indonesian Journal of Business Administration
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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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Articles 66 Documents
Search results for , issue "Vol 10, No 1 (2021)" : 66 Documents clear
Propose Digital Marketing Strategy to Increase Brand Awareness for Fashion Brand Establishment (Case Study in Lune Exterieur)
The Indonesian Journal of Business Administration Vol 10, No 1 (2021)
Publisher : The Indonesian Journal of Business Administration

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Abstract

The creative industry in Indonesia continues to develop over time, especially in the fashion industry, which continues to grow massively. Seeing these developments, the fashion industry and the apparel industry certainly have considerable potential because fashion has become part of the urban lifestyle trend. Many creative industry businessmen nowadays carry out their business activities by utilizing social media and other online platforms to examine the prospect of the target market's behavior that is more dominant by using online consumption activities. Therefore, they must build an excellent strategic process to survive in the competitive fashion market in Indonesia. Lune Exterieur, founded in April 2019, is one of the creative industries in fashion whose business idea is to offer fashion at the best prices in a sustainable manner. In creating a strong brand, Lune Exterieur has to create and build positive activities related to its brand concept to reach the target market created. This study used qualitative research methods by conducting in-depth interviews with customers, business people, and professions related to digital marketing. It then used a SWOT analysis and determined the root causes of the problem by applying cause-diagram-effect (CED) followed by creating strategy development and making strategy implementation plans. The results of this study used content marketing matrix, social media optimization, AIDA models, and tipping points. The overall results were then distributed digitally through all Lune Exterieur social media by using paid advertising services and placing some of the righthuman resources in maximizing the marketing process. The implementation plan contains the time frame for business implementation and provides solutions to digital marketing budgets in the future.Keywords: Digital marketing strategy, content marketing matrix, AIDA model, tipping points.
Proposed Digital Marketing Strategy with Product and Customer Service Improvement to Increase Consumers’ Intention to Use PosGiro Mobile
The Indonesian Journal of Business Administration Vol 10, No 1 (2021)
Publisher : The Indonesian Journal of Business Administration

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Abstract

PT Pos Indonesia is the state-owned company which is responsible to provide postal and financial service in Indonesia. Recently PT Pos developed product service called PosGiro Mobile (PGM). However, PT Pos has difficulties to catch up with the rapidly changing business environment particularly in providing user friendly financial service to its consumer, as such they hardly adopt the product and have confusion on the usage of PGM apps. Accordingly, the purpose of this study is: (1) to identify factors that significantly influence consumer intention to use digital financial service. (2) to determine the role of the significant factors in increasing consumer intention to use digital financial service. (3) to propose the right strategy to increase the intention to use PosGiro Mobile financial service.This study used mix method of qualitative and quantitative research to asses external and internal environments of PGM. First, general environment analysis, industry analysis, and competitor analysis were conducted to assess external environment of PT Pos. Second, it is analyzed the internal company situation using marketing mix, STP, and VRIO analysis approaches. And third, it is conducted a quantitative survey to gain consumer insights on factors that may increase the intention to adopt digital financial services using Technology Acceptance Model approach. The overall result of analysis then summarized in SWOT Analysis; and also becomes the input to identify the root causes problem of the business issue. As the result, it found eight root causes of PosGiro Mobile low adoption, Then, it is formulated 12 alternative solutions based on TOWS matrix approach and the relevant alternatives are connected with the root causes of problem are used to develop digital marketing strategies, which consists of online content marketing, online display advertising, PGM apps features improvement, and social media marketing strategies. Keywords: Digital Marketing, Technology Acceptance Model, Fintech
Improvement of Managing Collateral Documents for Micro Segment at PT Bank XYZ
The Indonesian Journal of Business Administration Vol 10, No 1 (2021)
Publisher : The Indonesian Journal of Business Administration

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Abstract

Bank XYZ currently has 109 strongrooms spread throughout Indonesia, and strongroom management managed by Retail Credit Operations Group (RCO) and this research will focus on micro segment at RCO Bandung. The factors that influence the strongroom capacity are collateral document storage procedures, systems and human resources. Improper management of collateral documents will have an impact on potential of collateral loss and also cost expansion in the revitalization or opening of a new strongroom. The root cause of lack of strongroom capacity was identified by using CRT. The lack of strongroom capacity is caused by an ineffective document storage model, the systems that have not been integrated and the behavior of employees who disorderly administration in monitoring paid-off debtors. By using the credit file folder, it is estimated that in 2023 strongroom's capacity will be overloaded by 1,241 documents of micro debtors. This is because the systems have not been integrated, so that neither RCO Bandung nor the Micro Unit has been able to monitor which debtors are active and debtors paid-off through the system and also the Micro Unit does not monitor paid-off debtors. By using BCOR, the author can find out the Benefit, Cost, Opportunity and Risk of the solution to be applied. By changing the storage model into a stacking method, it is estimated that the strongroom capacity of RCO Bandung can accommodate documents up to more than 2026 with the remaining strongroom capacity of 17,572 documents of debtors. It is estimated that the systems development will be completed in early 2022, so that both RCO and MBG can monitor the status of debtors and the achievement of the migration of legal documents credit and collateral of micro debtor. Keywords: Strongroom Capacity, CRT, stacking method, systems integration, BCOR.
VALUATION OF PT PEGADAIAN FOR PROPOSED IPO PRICE
The Indonesian Journal of Business Administration Vol 10, No 1 (2021)
Publisher : The Indonesian Journal of Business Administration

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Abstract

PT Pegadaian desire to be the most valuable financial company in Indonesia and as the public's first choice financial inclusion agent. PT Pegadaian planned to do an initial public offering (IPO) to achieve that. This study aimed to analyze and estimate the intrinsic value of Pegadaian and provide recommendations for investors. The valuation of the intrinsic value will use the absolute and relative valuation model. The absolute valuation model used is the free cash flow to equity (FCFE) model and the excess return model. The relative valuation used that are price to earnings ratio and price to book value ratio. The intrinsic value using the free cash flow of the equity model estimated is IDR 2.383,73/share. The intrinsic value using the excess return model estimated is IDR 2.571,41/share. The valuation using the price to earnings ratio has resulted is IDR 981,35/share. Then, the result of intrinsic value using the price to book value ratio is IDR 1.206,39/share. The valuation summary used the weighted average of intrinsic value from four model that is IDR 2.357,97/share.Keywords: initial public offering, intrinsic value, free cash flow to equity model, excess return model, price to earnings ratio, price to book value ratio.
Designing Standard Operating Procedure in Beauty Salon Using Knowledge Conversion Model (Case Study: Bunda Umar Muslimah Salon)
The Indonesian Journal of Business Administration Vol 10, No 1 (2021)
Publisher : The Indonesian Journal of Business Administration

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Abstract

Caring for self-beauty in a salon has become necessary for most women. One of factor determines in choosing a beauty salon is the service quality. Bunda Umar Salon is a Muslim woman-only beauty salon that always committed to provide quality service. However, some customers still complain about the disappointing service. The absence of written SOPs has resulted in the Bunda Umar Salon being unable to meet acceptable service standards. This study aims to design SOPs of Bunda Umar Salon and its implementation plan.The research uses observations and literature reviews to determine the most appropriate method in designing Bunda Umar Salon's SOPs. The SOPs design begins with determining the service critical points. A knowledge conversion process then be carried out based on Nonaka's SECI (Socialization, Externalization, Combination, and Internalization) Model to convert tacit knowledge into explicit knowledge. The acquired knowledge is then compiled into a written SOP format and then got tested. The SOP implementation plan is made with a strategy to address employee resistance to change, which found during the trial. The SOPs make it easier for employees to understand the work flow and increase their discipline. Employees who perform according to the SOPs provide satisfying service for customers. Keywords: beauty salon service, employee resistance to change, knowledge conversion, NONAKA’s SECI model, standard operating procedure (SOP).
The Impact of Job Satisfaction and Motivation on Work Performance of Lecturers at TEDC Polytechnic Bandung
The Indonesian Journal of Business Administration Vol 10, No 1 (2021)
Publisher : The Indonesian Journal of Business Administration

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Abstract

This study entitled The Impact of Job Satisfaction and Motivation on Work Performance of Lecturer at TEDC Polytechnic Bandung. The purpose of the research conducted by the author is to get the results of a study on job satisfaction, get the results of a study on motivation, and get the results of a study on the performance of the lecturers of TEDC Polytechnic Bandung. This study used a descriptive method using the Slovin formula to get the sample. Data processing was performed by multiple regression analysis and hypothesis testing. Based on the research results, it can be concluded that there is a significant effect of job satisfaction on performance. There is a significant effect of motivation on performance. There is a significant effect simultaneously of job satisfaction and motivation on TEDC Bandung Polytechnic lecturers' performance.Keywords: Job Satisfaction, Motivation, Performance
TRANSPORTATION STRATEGY DEVELOPMENT FOR OPTIMUM COAL MINING: A CASE STUDY OF BLOK-D MINING PROJECT PT. XYZ
The Indonesian Journal of Business Administration Vol 10, No 1 (2021)
Publisher : The Indonesian Journal of Business Administration

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Blok-D included in PT.XYZ concession is blessed with large coal resources and has the potential to be the main pillars of the company's future sustainability. The low calorific value of the coal resources and their locations are believed to erode the value of the mining project. Evaluate whether mining Blok-D is a relevant strategy for the Company, and then the development of the transportation strategy is a must before the mining project started. Selected transportation strategy is according to those who can provide a return on investment at equal or higher than the shareholder expectation.The increase in demand for coal by India and other countries in Asia was one of the reasons why the coal industry still had a strong appeal. Supported by its several competitive advantages, PT.XYZ has the advantage to grow the business by doing Blok-D mining. Assessment of the financial aspect is a must since it becomes the major challenge for transportation strategy development.Cost leadership is a suitable competitive strategy for the Company according to the analysis of the Company’s capabilities and competitive advantages. SWOT and TOWS approach shows that mining Blok-D is an inline strategy with the company’s corporate strategy. There are 6 (sixth) alternatives solutions for the transportation strategy, which are distinguished by the location of the barge loading facilities and the land coal transport method. The DCF financial model indicates that Alternative B1.2 provides the highest project value. The sensitivity analysis shows that the coal price followed by the OPEX becomes the most sensitive input variable for the project value. Monte Carlo analysis results show that Alternative B1.2 is viable to be executed since it gives an expected NPV of 333.47 million USD and an IRR of 65.4% which is higher than 11.96% as the required rate of return (WACC). Based on the analysis result, PT.XYZ is recommended to do the Blok-D mining projects with Alternative B1.2 as the transportation strategy.Keywords: Transportation strategy, business strategy, coal mining, investment analysis, DCF model, Monte Carlo analysis.
Proposed Social Media Marketing Strategy for Gaining Sales in New Normal Adaptation Era
The Indonesian Journal of Business Administration Vol 10, No 1 (2021)
Publisher : The Indonesian Journal of Business Administration

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Hong Kong Boulevard is a sub-apparel brand inspired by Asian pop culture's past, present, and future. Bearing the motto ""Prescription for Boredom"" this unisex sub-apparel label reimagined various disciplines from Asian city pop music albums, 90s movies to retro-futuristic aesthetic comes with pop yet vibrant color for youth culture. Currently, COVID-19 causes economic contraction globally, and Hong Kong Boulevard needs to sustain from this issue and spread their presences to abundant people in Indonesia's digital market with a social media strategy regarding their declining sales trend due the COVID-19 began to affect the business. Current company goals are growing awareness in digital platforms and gaining sales through social media marketing on Instagram as their platform introduces to a broad market and sells their products due to maximizing positive sentiments in digital channels. This research aims to identify which of the marketing strategies or activities that can be used by Hong Kong Boulevard in order to gain its sales. The marketing activities could help Hong Kong Boulevard to improve its brand awareness, especially in this digital era where Instagram could give benefits in the digital era and the new normal adaptation era. In this research, the author will use internal and external analysis of the company using SWOT matrix, STP analysis, marketing mix, consumer-based brand equity, customer analysis, competitor analysis, and Porter Five Forces analysis. In order to do some of the analysis, the author uses the in-depth interview to gain insights about customer’s perception and motivation in term of purchase fashion product in new normal adaptation era. After doing some of the research stated before, the author found that there are gaps that Hong Kong Boulevard has especially in terms of marketing. some of the proposed activities for Hong Kong Boulevard are integrated marketing communication focusing on Instagram and provide e-commerce channels for consumers purchase options. These activities will manage in order to achieve targets. Keywords: fashion, marketing strategy, social media, new normal adaptation, COVID-19
Outsourcing (Field Checker) Competency Assessment and Improvement Strategy as Substitution for Oil & Gas Company’s Field Operator
The Indonesian Journal of Business Administration Vol 10, No 1 (2021)
Publisher : The Indonesian Journal of Business Administration

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PT.XYZ, an Oil and gas company, suffered from oil prices that fell in 2016. To maintain Company sustainability, the strategies is reducing operating cost, such as changing the organizational structure, reducing the number of employees, for job’s position that replaced by outsourcing.FOD, with more than 70% of its employees being Field Operators, lose 30% of its Field Operators. From 2016 to 2020, the Field Operator will decrease 30%, and in the next year there will be 20% of Field Operators retiring. For one year now, FOD has used an outsourcing / business partner to fill the Field Operator position, with the name Field Checker. Over time, the competence of Field Checker did not develop as expected. decreased production and minor accidents occurred.Competency assessment of Field Checker is carried out through a questionnaire. The results of the questionnaire show that 68% of all Field Checkers have not shown the desired competency, Program development will be carried out on Field Checkers is a strategic systems model, using of competency-based rewards and recognition in Field Checker remuneration, evaluation per semester, and the division of groups using the normal distribution method.Keywords: Oil and Gas Company, sustainability, outsourcing, competency, assessment, development.
BUDGET AND CONTENT STRATEGY: AN EXPERIMENT ON DAILY SALES ON A SMALL FASHION ONLINE SHOP
The Indonesian Journal of Business Administration Vol 10, No 1 (2021)
Publisher : The Indonesian Journal of Business Administration

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SMEs are faced with new business opportunities through online channels, i.e., social media. The online platform offers many advantages, especially for small businesses, to raise awareness, attract broader consumers, and eventually scale up the company. However, this opportunity also comes with a whole different challenge on how to optimize the platform. Many small businesses fail to overcome the new challenges due to their limitations, such as lack of financial and human resources. The purpose of this study is to examine the relationship between budget strategy and content strategy on the daily sales performance of an online fashion retail shop in Indonesia. By.yesya is used as an experimental object and analyzed using a quantitative research method through a lens of multivariate analysis (i.e. OLS regression). Using 1,637 daily sales observations, the result shows that the amount of budget allocation and the application of content strategy in the advertising material significantly increase its sales performance. One main conclusion is that this study provides a glimmer of enlightenment; there should be a reference whereby other businesses are keen to see how online advertising is sufficient to increase sales performance.Keywords: Advertising, Social Media, Budget, Content Strategy, Facebook, SME.