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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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Articles 66 Documents
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Search results for , issue "Vol 10, No 1 (2021)" : 66 Documents clear
Company Valuation Of PT. Bank ABC To Prepare Acquisition Strategy
The Indonesian Journal of Business Administration Vol 10, No 1 (2021)
Publisher : The Indonesian Journal of Business Administration

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Abstract

OJK has made POJK R Number 12 / POJK.03 / 2020 concerning the minimum capital adequacy regulation for each bank. Bank ABC is a bank with tier 1 of less than IDR 1 billion. The next step is for Bank ABC to conduct a valuation of the company to find out the company valuation of Bank ABC when there will be additional of shares in the future. After knowing and company valuation from Bank ABC, a corporate action recommendation will be generated that must be carried out by Bank ABC implementation planning steps is acquisition. In a business situation, the insufficiency of Bank ABC's core capital is constrained by external political factors (POJK No.12 / POJK.03 / 2020) which make ABC Bank unable to develop (up to become Book Bank II), especially in terms of developing digital services to respond to external factors challenges technology. The analytical method used in this research is case study analysis with ratio assessment, financial performance analysis and company assessment using Discounted Cash Flow (DCF) approach. With assuming a discount rate of 12% and a time period for the next 5 years with an average terminal value shows that the market equity value / share calculation is IDR 350.000,- while intrinsically it is IDR 1.349.240,- so the target price per share is 2.85x from the initial share price. CKPN increases by approximately 40%. Where deposits are the largest expense that must be paid by Bank ABC when compared to Giro and Savings. The conclusion if Bank ABC want to take acquisisioned, Bank ABC can give the equity price / share at the IDR. 1.349.240,- / share or 2.85x from the initial price/share. Then after the acquisition process Bank ABC must take the improvement strategy at the quality of Loans and recompositioning proportion at short term liabilities especially at the Deposito.Key Words: Banking, acquisition, valuation, discounted cash flow, Financial performance analysis.
Financial Feasibility Study in Bus Rapid Transit (BRT) Project Using Public-Private Partnership (PPP) Scheme
The Indonesian Journal of Business Administration Vol 10, No 1 (2021)
Publisher : The Indonesian Journal of Business Administration

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Abstract

"Urban traffic is one of the important keys to overcome traffic congestion and optimize the positive impact of urbanization as the main driving force of national economic growth. According to Bappenas data, 41% of the national GDP in 2017 came from 6 metropolitan areas. Given that there is no integrated public transportation system available, the resulting large number of trips, coupled with the continuous growth of the population, has resulted in an increasing demand for adequate public transportation facilities and infrastructure in City X. Therefore, PT. ABC's idea is to design a City X public transportation system that is integrated with the Jabodetabek transportation system through a public-private partnership (PPP) scheme. The system in question is mass transportation, namely Bus Rapid Transit (BRT), which implements regular and integrated public transportation services. The construction of the Bus Rapid Transit Project in city of X requires a capital investment fund of Rp 1.341.205.480.103. On that basis, it is necessary to test the feasibility of which financial feasibility is one of them. If the projects are economically feasible but financially unfeasible, the Government should support the project. In recognition of this need, on the basis of Presidential Decree No.38/2015, the Government supports for the PPP project in Indonesia is Availability Payment (AP). The concept of the agreement used in this project is Build-Operate-Transfer (BOT) which instructs the Investor to design, build, transfer projects to the Government at the end of the concession period. Through this research, authors analyze the feasibility of this investment plan by calculating the projected investment costs, revenues, and expenses needed during operation. The feasibility of an investment plan can be financed by using Discounted Cash Flow (DCF) parameters which are Net Present Value (NPV), Internal Rate of Return (IRR), and Payback Period (PP). To find out which variables affect the financial viability of a project, the authors use sensitivity analysis and scenario analysis. Moreover, Monte Carlo simulations are also carried out in this research to provide information regarding the probability of the effect of uncertainty from several selected variables.In the case of the Bus Rapid Transit Project with Availability Payment. The calculation result shown that the project is financially feasible with NPV of Rp. 198.686.310.240, IRR of 11% which is higher than the weighted average cost of capital (WACC) 9,27, and the payback period for 6,849 years. Availability Payment, Project Capital Expenditure, Loan interest rate and increase in wages are the variable that affect the feasibility of the project. According the Monte Carlo simulation result using 1000 iterations, the project has probability of 26% in making the project not feasible. The mean value of the Monte Carlo simulation result is Rp. 1,372,029 million which consider as favorable project. Using concept Value for Money BRT project with using PPP scheme provides better efficiency compared to development using a conventional scheme. Keywords: financial feasibility study, PPP, NPV, IRR, PP, WACC, sensitivity analysis, monte carlo analysis
Marketing Strategy and Product Development for Umroh Travel Services (Case Study: Umroh Bareng Yuk)
The Indonesian Journal of Business Administration Vol 10, No 1 (2021)
Publisher : The Indonesian Journal of Business Administration

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Abstract

Umroh Bareng Yuk (UBY) from PT. Sultanah Napisah Mandiri is a travel services provider which focuses on Islamic religious tour (Umrah and Hajj). UBY applied focused cost leadership for its services. Among the expensive umrah services from its competitor, UBY offers affordable umrah services to the customers without reducing the service level. However, this strategy is not generating good sales. UBY needs to evaluate its marketing strategy and product development in order to increase its value and revenue.The research is needed to analyze the effectiveness of UBY marketing strategy and gain new insights to compete in this industry. The data basis is collected by primary data collection and customer interview. SWOT, Resource-based model, Marketing Mix, STP, and Porter Five Forces analysis are used to analyze UBY’s strength and what it can offer to the market. The result of the research: UBY needs to emphasize on the promotional content in social media, improve the marketing and sales admins interaction and responses to customer, and improve physical evidence to increase customers trust. UBY will implement the improvement plan within 6 (six) months and will evaluate the result to determine further actions.Keywords: umrah service provider, travel business, marketing strategy.
Proposed Marketing Strategy for Prama Grand Preanger Hotel Bandung
The Indonesian Journal of Business Administration Vol 10, No 1 (2021)
Publisher : The Indonesian Journal of Business Administration

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Abstract

Prama Grand Preanger is one of the Heritage hotel in Bandung owned by Aerowisata Hotels & Resorts. There are two methods that used in the study, qualitative and quantitative method. secondary data are collected from Prama Grand Preanger Hotel, researching books, journals, previous research related to the research, and group discussion. Data collection by distributing questionnaires to 105 respondents. External analysis using General Environment, Industrial Environment, customer analysis, competitor analysis. Internal analysis using 7P Marketing Mix. Based on the interview and questionnaire result, it was found that the hotel problem is lack of promotion. The analysis strategy of Prama Grand Preanger Hotel Bandung through market penetration can be done by increasing marketing efforts, in this case is proposed new 7P Marketing Mix, synergize through Stated Owned Enterprise and Integrated loyalty program. Keyword: Hotel, 7P Marketing Mix, Purchase Intention, Marketing Strategy
Business Validation Using Disciplined Entrepreneurship Framework for Lokaly95
The Indonesian Journal of Business Administration Vol 10, No 1 (2021)
Publisher : The Indonesian Journal of Business Administration

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Abstract

Asia has grown to become the largest and most populous of the continents since 1960 (Cox, 2018). International Enterprise Singapore (2013) stated that strong domestic demand is expected to underpin Indonesia's GDP growth, as the share of private consumption is predicted to rise from 56% in 2012 to 65% in 2030. Furthermore, Indonesia is the largest foodservice market among all ASEAN countries (Agriculture and Agri-Food Canada, 2016). The study found that as far as trends for foodservice growth, there's a strong indication that the world is fast becoming a cafe-centric place, with the cafe category found to be the fastest-growing menu category globally, showing 9.9 percent sales growth in 2016 (Qsrweb.com, 2018). With the development of the foodservice industry, the industry needs to pay attention to consumers. The cafe industry has various influencing factors in providing services for customer satisfaction. Sugianto and Sugiharto (2013) also stated that service quality significantly affects customer satisfaction, especially on employees' speed and responsiveness in serving customers. Responsiveness in cafe and restaurant services is essential so that it is related to the operation of cafes and restaurants in serving food and beverages. The duration of cooking and its material are important aspects in cafes operational, so that the industry needs to pay attention to the right product and its development for consumers. The product in single packing and ready to cook can speed up the duration of serving. Also, the efficiency of the ingredients' use and effectiveness in calculating costs are aspects offered by the single packing product. So, Lokaly95 comes with products that can meet these needs. Besides, there are challenges facing restaurant operators in third party partnerships that are both necessary and expected (Euromonitor International, 2018). So this study provides research on how Lokaly95 can meet the exact market needs and calculations regarding market availability sufficient for Lokaly95 to consider. This study also validates the initial idea about Lokaly95 that needs to be tested to provide an overview of managing and planning Lokaly95 in the future.This research uses a disciplined entrepreneurship framework that adjusts the academic final project format. This research step is through exploration, solution, and making an implementation plan. This study is developed through initial ideas. Then explores the idea and validates it through observation, interview, and fill in the questionnaire. Exploration solves a consideration for the implementation plan. The result of this research is a coffee shop as Lokaly95 market with frozen food products that are packaged per portion as the Lokaly95 value. Lokaly95 products consist of 20 types based on end-customer validation. The implementation plan is formed based on the acquiring customer process. Keywords: Frozen Food, Coffee Shop Supplier, Business Validation.
Proposed Marketing Strategy to Deliver Specialty Coffee (Case Study: Central Station Cafe Surya Sumantri)
The Indonesian Journal of Business Administration Vol 10, No 1 (2021)
Publisher : The Indonesian Journal of Business Administration

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Abstract

Central Station Café is a specialty café located in Surya Sumantri serving specialty coffee. The café has suffered fluctuation in sales from 2018 to 2020. Promotions have been done through word of mouth by the network of the owner and have not given uptrend sales over the past two years. Explorative study to find the root cause of the business issue is done using internal and external analysis. Two major root causes of the business issue include: Customers prefer other brands than Central Station Café due to no unique selling point; and Reliance on consumer segment that likes to hang out at the café and the specialty coffee brand was not in the consumers’ mind due to the positioning of only hanging out. The newly proposed STP results in targeting out of home consumers. Updates to the marketing mix elements include product packaging update, new menu introduction, utilization of ride-hailing app for additional promotion and process upgrade, social media contents about coffee knowledge and product promotions, internal or external training for the team, and blue ocean strategy including new products to target non-coffee consumers and subscription type business model. Keywords: Business strategy, specialty coffee, café, marketing.
Production Time Optimization By Six Sigma DMAIC Method At Goods Project Convection
The Indonesian Journal of Business Administration Vol 10, No 1 (2021)
Publisher : The Indonesian Journal of Business Administration

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Abstract

Goods Project is a company engaged in online-based convection in the city of Bandung, which was founded on February 1, 2016. In the last few years, the Goods Project has seen that the production process is still not optimal because it always experiences from a predetermined schedule when producing large quantities. This may occur because the production system is not optimal and there are small errors that are not noticed by management, causing these errors to always occur.Therefore, the author tries to do research related to the problems placed by the Goods Project using he Six Sigma concept with the DMAIC method (Define, Measure, Analyze, Improve, and Control). From the results of the root cause analysis it was found that the problem was in the Human, Method, Machine, and Measurement factors. In the method factor, it is found the order that the scheduling is irregular and also the information on the remaining invoice payments which results in the expenditure of raw materials. Factors It was found that employees do not have work contracts so that it causes no commitment with the company and understanding of the established SOPs, and also no KPI in employee performance appraisals. In the measurement factor, the company does not apply KPI to production capacity and time, which results in an ineffective production process. Furthermore, on the machine factor, the use of manual screen printing tools requires a longer time and also more labor, besides that there are still some sewing machines that do not operate due to lack of labor.Then the authors conducted a brainstorming related to the results of the analysis to optimize the production system. The upgrade phase (Upgrade) results in that the Goods Project can solve the problem by applying KPIs to several parts of the company especially on the administration, production & human resources systems and also implementing a more effective scheduling system. Then carry out control (Control) on the implementation of the strategy that has been done.Keywords: Six Sigma, DMAIC, Root Cause, Fishbone, KPI
IMPROVING CUSTOMER SATISFACTION OF SELF-SERVICE BANKING (CS DIGITAL) CASE STUDY: PT BANK AAA BRANCH X
The Indonesian Journal of Business Administration Vol 10, No 1 (2021)
Publisher : The Indonesian Journal of Business Administration

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Abstract

Innovation is needed in various business sectors, including banking. One of the innovations developed by banks in various countries is based on self-service banking services. Likewise, human resources (customer service-service-based) self also play an important role in customer satisfaction with a company. CS Digital is a-service based self service issued by one of the largest private banks in Indonesia. However, it was found in one branch that the use of CS Digital was not optimal. This study will measure how satisfied customers are with-based banking services, self-service namely CS Digital, compared to customer satisfaction with the quality of human (service customer service) and the author will provide some suggestions for optimizing the use of CS Digital, one of the branches of PT Bank AAA. Service quality is measured using 5 dimensions of service quality, convenience, reliability and security, responsiveness, personalization, and tangible and customer satisfaction indicators. From these attributes, it will be calculated how big the gap is between customer expectations and company performance. The calculation of the gap is assisted by the method Importance Performance Analysis (IPA). In this study, there are several problems related to the operation of CS Digital that need to be resolved. These problems include ease of use of CS Digital, lack of clear directions for new users, slow service, and CS Digital is not the first choice for customers to make transactions. Fishbone is used to analyze the root of the problem and to find out the cause and effect of problems that occur at PT Bank AAA branch X. In addition to the fishbone method, the author also uses theories regarding service quality to find the main problems in PT Bank AAA branch X. The root of the problem from PT Bank AAA branch X, I tried to give suggestions to optimize the use of CS Digital so that it can help reduce queues and increase branch productivity as expected.Keywords: Customer satisfaction, service quality, fishbone
RISK ANALYSIS OF TENDER PRICE INCREASE USING ANALYTICAL HIERARCHY PROCESS (AHP) (CASE STUDY : PT INTI PRIMA TEKNIK)
The Indonesian Journal of Business Administration Vol 10, No 1 (2021)
Publisher : The Indonesian Journal of Business Administration

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Abstract

With the more advanced science and technology today, competition in the business world shows a rapid increase. This competition requires companies to have a strategy to win the competition, one of which is by winning the project auction. In a project auction, the cost aspect is one of the primary considerations in the construction project implementation process because it involves a large amount and is susceptible to risk. The beginning of cost control is from the estimation process. Inaccurate cost estimates will have a negative impact on the entire construction process. Because the estimate is a reference in preparing a budget and is used as a control for project costs, an analysis of the dominant risk is needed to be used as a basis for mitigation.PT Inti Prima Teknik is a company engaged in manufacturing spare parts and services, especially in the form of metal and rubber. The projects undertaken by PT IPT come from state-owned companies located in West Sumatra. To get the project, a tender auction is required with several competitors. In the continuation of the tender auction, PT IPT had to experience several defeats because its value was small compared to other companies. This study aims to determine the risks that cause a price increase in the tender offer to cause defeat.By using qualitative methods, it is hoped that this research can provide benefits to the organization. This study's primary data came from interviews with company leaders and several high-ranking officials who were directly involved in the formulation of tender prices. Secondary data were collected from company documents related to the tender auction. Then the data will be processed using the Analytical Hierarchy Process (AHP.) Method.The results of the AHP found that five candidates were the causes of the tender defeat. Later, it can be used as an additional parameter in formulating the price at the next tender auction.Keywords: Analytical Hierarchy Process, AHP, Service Business, Decision Making, Risk Management
STOCK ANALYSIS OF MAP AKTIF ADIPERKASA USING FUNDAMENTAL ANALYSIS WITH INDONESIA AFTER PANDEMIC PROJECTION
The Indonesian Journal of Business Administration Vol 10, No 1 (2021)
Publisher : The Indonesian Journal of Business Administration

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Abstract

MAP Aktif Adiperkasa (MAPA) is a company engaged in the retail industry that sells various consumer needs products related to healthy lifestyle, MAPA is a subsidiary of Mitra Adiperkasa (MAPI) which manages sales in the sports equipment products sector. MAPA has special distribution rights for some of the flagship products such as Nike, Adidas, Reebok etc, MAPA outlets can be found in various public shopping places in Indonesia. In 2020 the Covid-19 pandemic entered Indonesia which caused the government to impose several regulations aimed at preventing the spread of the Covid-19 virus, one of which is a large-scale social restriction requiring shopping centers that result in crowds having to be closed or should not be operational. This study uses PEST analysis for macro analysis, for industry analysis using 5 force porters. For internal analysis only use financial analysis by comparing the ratio of financial ratios between MAPA and MAPI. To obtain fair value from MAPA shares using discounted cash flow and relative valuation with EBITDA, with WACC of 16.68% and using Indonesia's projected economic growth during the period of improvement after the pandemic, obtained fair value by DCF method of Rp.1.011,59. With this result, it is concluded that for now investors who own MAPA shares are advised to sell their shares and re-enter at a time when MAPA stock market price has touched its fair price. Keywords: MAPA, Stock, Pandemic, Covid-19, DCF, WACC, EBITDA

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