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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 23 Documents
Search results for , issue "Vol 7, No 1 (2018)" : 23 Documents clear
Financial strategy analysis for china shenhua energy company limited Zhen, Jiang; K. Widhaningrat, Sisdjiatmo
The Indonesian Journal of Business Administration Vol 7, No 1 (2018)
Publisher : The Indonesian Journal of Business Administration

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Abstrak. This paper focus on financial strategy which plays a crucial role. Financial analysis is only method that can provide the statistics data to help entrepreneur make decisions. The objectives of analyzing the appropriate financial strategy to revitalize the company growth and improve the company’s performance health. Shenhua is china biggest coal dealer and the company with 20 years history, and is the leader of the coal industry and has succeful experience on innovation and transformation on other industry. Shenhua model is the main business strategy which intergrated the sales of coal, railway, transportation as well as power generation. The business model made the company become large-scale,high efficient and safe production mode in china’s coal industry. This research uses the secondary data completion analysis. The second data is that from company’s data as well public disclourse output. Using du pont business analysis module to evalute the company’s performance. During research, the paper will use solvency analysis, company efficiency analysis, financial quality analysis and risk analysis. After reasearch,  the researchor want to give some recommentions to the entrepreneur,such as: improve cash flow management and financing management, financial planning, internal control, risk management.Key word :shenhua, strategic, du pont analysis,  financial ratio, improvement
Increasing procurement efficiency in oil and gas company using lean six sigma concept and e-procurement implementation Batubara, Arif Hamdani; Nizar, Adirizal
The Indonesian Journal of Business Administration Vol 7, No 1 (2018)
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Abstract - The oil and gas industry in Indonesia is going through a difficult period due to the drastic decline in global oil prices since the year 2014. One way to stay competitive when the low selling price is to work more efficiently and reduce operating costs. Saka Indonesia Pangkah Limited is a subsidiary of PT. Saka Energi Indonesia and its parent company, PT. Perusahaan Gas Negara. The company is operating as upstream oil and gas contractor under PSC agreement with the government of Indonesia, represented by SKKMIGAS. The efficiency discussed in this report is the streamlining and improvement of the procurement process using Lean Six Sigma concepts and ultimately supported by better electronic system implementation. The business problem was first defined by mining data from the past year as well as obtaining customer inputs. From the existing data then further research was conducted to find the root of the problem. After determining the root of the problem, the analysis is continued to make improvements to the process applied at the time. Process improvement is done by applying Lean's basic principle of prioritizing value to end users, reducing waste, flowing processes, and user-driven demand systems rather than driven by process capacity. The analysis recommends the application of electronic procurement system (e-procurement) to control the implementation of procurement process so that there is minimal variation of process which can cause inefficiency.Keywords: oil and gas, procurement, lean six sigma, e-procurement
Managing employee engagement with cross-cultural leadership style (case study at united nations development programme indonesia) Yusuf Musa, Muhammad; Febriansyah, Hary
The Indonesian Journal of Business Administration Vol 7, No 1 (2018)
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Abstract - United Nations Development Programme (UNDP) Indonesia is an international organization work as one of the representative program by United Nations. UNDP Indonesia was founded on 22 November 1965 in Jakarta together with the head office. United Nations Development Programme Indonesia is the international organization with multicultural diversity. The employee including the managers and the staff at United Nations Development Programme Indonesia working based on the work culture inside the organization. Multicultural diversity at United Nations Development Programme Indonesia make the managers used to think how to get engage with the staff that have cultural diversity. Managing employee engagement with cross cultural leadership style would be a challenge for the managers, and the staff support the manager job together to reach the objectives. This research using qualitative method to gain the data more complex. In this research, there are eight of UNDP Indonesia employees that supporting as the informants, including two expatriates manager, two local managers, two local staffs, and two expatriates staff. The recommendation has been made by the research choosing the leadership style that engage with United Nations Development Programme Indonesia staff. Keyword: employee engagement, cross-cultural leadership, leadership style
Proposed strategy through product rejuvenation in order for Post-it® 3”x3” classic color notes to increase performance in a competitive market Firmansyah, Erick; Toha, Mohamad
The Indonesian Journal of Business Administration Vol 7, No 1 (2018)
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Abstract - Post-it® has been operating in Indonesia since 2003 with its office in Jakarta and its manufacturing warehouse in Tambun, Bekasi. Its core product is consumer product within the stationery industry, producing a well-known worldwide product, one of them are Post-it® sticky notes.  From 2012 up until 2016 is considered as a challenging year for Post-it® Indonesia where Indonesia’s economic slowdown and the increasing of import duty have caused its 3”x3” classic color notes sales to decline. Therefore the objectives of this research is to find the right business strategy for the company and to develop a strategic initiatives to help implement the business strategy. After analyzing the internal as well as the external environment of the company through interviews with the customers to define the customers buying criteria and the representatives of outlets where the product is sold, eventually the root causes of this problem were found and they are: lack of thorough knowledge on the customers, intense price competition from other lower priced competitors, technological threat from the digital version of sticky notes, and the increasing of importing duty. Solving these problems will potentially resolve the main problem. A good business strategy must be formulated by the company in order to solve these problems. Having conducted a thorough business strategy formulation, four alternatives strategies were generated and all the four strategies are expanding business coverage, rejuvenating existing packaging to a new smaller-sized packaging, creating a creativity application for smartphones to support the usage of sticky notes, and lastly create a collaboration between complementary brands to support each other as well as adding more value to the product. The implementation of these four strategies is conducted within short-term and long-term plan with continuous evaluation.Key words: business strategy, Post-it, sticky notes, 3M, stationery
Economic Analysis of A Coal Mining Project Under the Industrial Uncertainty Using Real Options Valuation Indramantanu, Satwika; Arif Sumirat, Erman
The Indonesian Journal of Business Administration Vol 7, No 1 (2018)
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Abstract. A well-crafted company assessment is a tough task that requires detailed analysis, assumption that can be justified and applied with a clear synthesized. Conventional DCF analysis, which is temporarily used by most investment communities, has its weaknesses. This model has limitations in the ability to combine future flexibility. The company's assessment is a subjective process that needs to combine future expectations amid the industry's uncertainties. The DCF model is presented on condition that investment decisions are naturally defined by assuming that management takes a passive role. However, this is contrary to the management philosophy and expectations of the investment community. Real option valuation (ROV) allows for flexibility. In the DCF model, the ROV recognizes that uncertainty is not only represented by downside risks. The ability of firms to adjust future investment decisions when facing a dynamic environment also leads to a decrease in potential risk and ability to capture potential increases. Keywords:  capital budgeting, coal mining, discounted cash flow, real options, valuation
Analysis of business opportunities of waqf land at yayasan attaqwa using smart and ahp Hilaliah, Lia; Kusumo Bintoro, Bambang Purwoko
The Indonesian Journal of Business Administration Vol 7, No 1 (2018)
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Abstract. This research begins with a simple question: how to utilize waqf land in order to benefit the Nazir and the community?. The Indonesian Waqf Board notes that the number of wakaf land in Indonesia reaches 4,359,443,170 m2 managed by wakif, one of the wakif is the Attaqwa Foundation. The Attaqwa Foundation established in 1950 is engaged in education and social affairs, owning land assets of 910,629 m2, and 22% of the total land is waqf land. As a Nazir, the Attaqwa Foundation, through the Waqf Board of Attaqwa Foundation, is obliged to organize, maintain and optimize the waqf land owned for the benefit of the ummah. This research tries to map the business opportunities that can be taken to develop the potential of existing waqf land and choose the best one by the decision maker. This research divides the benefit into two: economic benefit and social benefit, which then divided into six criteria: trust, job creation, sales, social assistance, and sustainability of physical infrastructure. From observations and interviews, there are four business options that can be developed, namely cooperation or mart, sports center, tempeh factories, and cultivation of catfish. By conducting SMART and AHP analysis, this study yields the conclusion that the highest benefits business option is Mart. The advantages of Mart will eventually be returned to the community as the full beneficiaries of the utlization of waqf land carried out by the Waqf Board of Attaqwa Foundation.Keywords: waqf, nazir, Attaqwa, SMART, AHP
Strategy to Strengthen Internal Control System for State-Owned Property Administration (Case Study: Ministry of Energy and Mineral Resources) Endito, Astria; Daryanto, Wiwiek M.
The Indonesian Journal of Business Administration Vol 7, No 1 (2018)
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Abstract - Establishing a transparent and accountable financial report and report on State-Owned Property, which referred to Bahasa Indonesia as Barang Milik Negara (BMN), or known as Good Governance, it is not easy. For that in need a good system of internal control of administration. Based on the above problems, this study aims to: 1) Knowing the causes of negative findings on the internal control system of the administration of BMN assets. 2) Knowing the quality of the implementation of the Internal Control System in the BMN Administration in the MEMR. 3) Propose a strategy of strengthen the Internal Control System in the BMN Administration in the MEMR. The method used in this research consists of three stages, first using descriptive method, the second using qualitative method using NVIVO and third using SWOT and QSPM method. The results of the analysis show: 1) Based on the report of BPK-RI audit result in the know that the administration of fixed assets in ESDM ministry has not been adequate, 2) Implementation of SPI administration in the Ministry of ESDM is still running less good than the five elements only information and communication that get good criteria 3) Strategy that must be implemented related to internal control system is to strengthen the internal control system by improving the quality of BMN report through updating of information technology and application of BMN management.Keywords: administration of state property, internal control system, SWOT analysis and QSPM analysis
Proposed business strategy for “travorama for business” in business to business market Adhitia, Rama; Aditya Wibowo, Satya
The Indonesian Journal of Business Administration Vol 7, No 1 (2018)
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Abstract - PT Travel Madezy Internasional, which subsequently will be mentioned as TMI in this document, is a relatively new company, established on July 2014. TMI operates in travel e-commerce business using the brand of Travorama (http://www.travorama.com), offering online flight, hotels and travel activities reservation. In the second part of 2016, TMI started the development of new product which was named Travorama for Business. Different from Travorama.com which focuses to sell hotel rooms and flight tickets to retail customer, Travorama for Business is meant to sell hotel rooms and flight tickets to corporate customer. Travorama for Business offer corporate travel management application. This application consists of desktop website, mobile website and mobile app which enables employees to buy flight tickets and hotel rooms online by themselves. This feature improves the productivity of business travel arrangement because employee can make travel arrangements without going through back and forth contact with company administration staff. The purpose of this research is to develop the strategy for Travorama for Business in order to achieve the target market and sustaining the competitive advantage. The research methodology used in this final project is using the qualitative method through the internal interview with the management of Travorama for Business also with potential. The conceptual framework used in this final project arranged by the external analysis and internal analysis of the company. In external analysis using the PESTLE analysis, Porter’s 5 Forces analysis, and competitor analysis. In the other hand, the internal analysis using STP analysis, marketing mix analysis, and the business model canvas analysis. The result of these analysis show several business issues which are lack of brand awareness, the novelty of online travel management concept, a need to expand hotel coverage and flight choice, and finally the high rivalry competition in the industry. The solution offered in this final project is for Travorama for Business to adopt differentiation generic strategy without significantly adding cost.  The strategy formulation starts with doing TOWS matrix analysis. The strategies then are elaborated and expanded further during formulation of the strategy diamond, improvement to 7P marketing mix, and improvement to business model canvas.Keywords:  Corporate Travel, Business Strategy, Marketing Strategy.TOWS Matrix, Strategy Diamond, Business Model Canvas, Marketing Mix
Cash flow analysis using coso enterprise risk management (erm) framework on fuel procurement strategy for a sustainable operation, a case study of an Indonesian ipp company Mutiara, Febrianisa; Wiryono, Sudarso Kaderi
The Indonesian Journal of Business Administration Vol 7, No 1 (2018)
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Abstract--- An Indonesian IPP located in Bekasi expanded their power capacity by building a coal fired power plant (CFPP) 2x140MW in 2013. The expansion sums up total installed capacity into 1144MW by 2016 which predominantly using gas fuel operated since 1993. Having coal fuel into their portfolio, this exposes Company to volatile nature of Indonesian coal price. This risks cash flow management of the company including possibility of declining business growth due to future business environment. Short of cash flow is dangerous to not only limit decision making alternative ability related to fuel purchase but also increasing risks of Company sustainability over plant 20 years projected operational period as per COSO Enterprise Risk Management (ERM). Multiple scenarios are randomly simulated assumption to project cash flow and its relevant consequences when repayment of senior note due in 2026. Looking from its historical performance, scenario analysis is plotted using Monte Carlo random simulation on possible end of year cash and cash equivalent outcomes. In mitigating this potential problem, research is going to analyze how COSO enterprise risk management framework mitigates possible cash shortcomings. In conclusion, research recommends an cross divisions contribution within company in developing criteria and technical terms & condition that is jointly real-time monitored for immediate response.Keywords: cash flow analysis; decision making; Monte Carlo random simulation; multiple variables; COSO Enterprise Risk Management
Analyzing commercial bank in Indonesia by using camel method, case study of: pt bank mandiri (persero), tbk (bmri) for periods of 2007-2016) Obrina Hutabarat, Vanessa Helena; Daryanto, Wiwiek M.
The Indonesian Journal of Business Administration Vol 7, No 1 (2018)
Publisher : The Indonesian Journal of Business Administration

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Abstract – Assessment of bank’s soundness is fundamental since even a little macro-economic condition can influence customers trust on banks. Bank Mandiri expected by president of Indonesia to expanding their business in Southeast Asia, whereas they have some issues such as the rising of their non-performing loan and the decline of their profit and also in their credit quality. With all these issues, Bank Mandiri have to convince foreign market that they have a good trend of bank soundness and can be trusted. The purpose of this research is to assess bank soundness of Bank Mandiri from 2007-2016 and to find the priority ratios. In this research, CAMEL method that stands for Capital (C), Assets Quality (A), Management (M, Earning (E), and liquidity (L) is used for determining Bank Mandiri bank soundness for the last ten years. As for determine ratios that have strongest correlation, correlation statistic method will be used. Data used in this assessment are secondary data from Indonesia Stock Exhange. Those data are financial report and annual report from Bank Mandiri since 2007 until 2016.  The results showed that Bank Mandiri has healthy status based on CAMEL method. Other than that, also found that ratios that be the priority as early warning in Bank Mandiri based on CAMEL method is OER and ROA. Recommendation from this research is Bank Mandiri needs to take notice on movement of trend at NPL ratio, ROA, and LDR. Bank Mandiri also needs to maintain movement of OER in order to have optimal ROA. Keywords:  CAMEL, Correlation, Financial Ratio, Surat Edaran Bank Indonesia No. 6/23/DPNP/2004

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