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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 44 Documents
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Search results for , issue "Vol 7, No 3 (2018)" : 44 Documents clear
Determining natural gas business strategy in indonesia through scenario planning , a case of pt. Pertamina gas Tri Sukma Tarigan, Devina; Arif Sumirat, Erman
The Indonesian Journal of Business Administration Vol 7, No 3 (2018)
Publisher : The Indonesian Journal of Business Administration

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Abstract. The LCT states optimal dividend policy of a firm is dependent on its LC stage. Mature firms have decline in investment opportunities, reduced cost in raising capital and growth rate enabling firm to pay dividends, unlike young firms. The purpose of this research is to create a search strategy to help investors choose optimal dividend-paying stock listed in LQ45 Index using 2 scorecards. Descriptive research uses secondary data from audited financial reports of 17 selected firms that qualified for 10 listings in LQ45 Index from the year 2013 to 2017. DPR scorecard use factor DPR and LCT scorecard use weighted factors: Liquidity (Cash/TA, weight 1), Profitability (ROA, weight 2), Life Cycle (RE/TA, weight 2), Maturity (RE/TE, weight 1) and Leverage (LTD/TA, weight -1) to show effect on firms’ decision to pay dividends and payout level. Scorecards’ sequenced 17 stocks from lowest (rank 1) to highest (rank 17) 5yr w.a. value. Rank 17 has highest propensity to pay dividends and payout level and vice versa for rank of one, thus ideal stock pick have high ranks in both scorecards. Result show UNVR ranking 14 in LCT and 17 in DPR scorecards as ideal stock pick. UNVR has highest propensity to pay dividends and maintained high payout level, thus optimal dividend paying stock for long-term investment. EIC analysis conducted shows UNVR risk to increased cost of raw material and debt level. UNVR should deleverage and eliminate non-performing segments to increase its stagnant profit. Firms’, investors and future researchers can apply scorecard on other indices using 10-yr analysis to compare sectoral trends and select dividend stock listed in other indices of IDX. Keywords: Dividend Policy, Dividend Stocks, IDX, Life Cycle Theory, LQ45 Index
Impact of quality of improvement in operation management towards customerss satisfaction and company's performance Theo Hansardi, Muhammad; Nizar, Adirizal
The Indonesian Journal of Business Administration Vol 7, No 3 (2018)
Publisher : The Indonesian Journal of Business Administration

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Abstract. In every year, demand of automotives industry always increase, which will impact into the number of accident. This could be the opportunities for body repair industry. The demand of products/services in body repair company was really high, on the other hand, there is low level of competitor in the body repair market. To take this opportunities, every company that want to survive in the market need to provide something different. Hanjaya Motor is an automotive industry that focus on customers’ satisfaction and quality product. Hanjaya provide high level of quality with an affordable price in the market. However there are several problem such as quality control, low level of employees’ performance and defect product in the Hanjaya’s production which will be obstacles in the business to taking the opportunities in the market. In this research, Author discuss about evaluating Hanjaya’s performance starting from evaluatin the market situation by conduct Porter 5 Forces, understand which factors that have have been influenced in compayn performance by Macro Micro Environment, understand the Hanjaya’s company by SWOT Analysis, continue to observe the target market of the company by using STPD Theory, understand the operation process by using Six-Sigma Theory and DMAIC Framework. Which leads Author to evaluate the quality of company by using Quality Control and Cost of Quality Theory. And the last step is find and solve the core problem of the company by using Fishbone framework.  The result of this research is there are 3 main problem in Hanjaya, which is Quality Control, Employees’ performance, and Defect products. Lacks of quality control affect the company to for having low level of competitors that will leads the production fail and producting defect products. In order to solve the problem, Hanjaya need to increase the quality control by providing more inspection division that act like monitoring and controlling in body repair process.
Investment analysis for determining toll fee of gas distribution pipeline in bekasi fajar industrial estate Muthiasari Pertiwi, Hedia; P. K. Bintoro, Bambang
The Indonesian Journal of Business Administration Vol 7, No 3 (2018)
Publisher : The Indonesian Journal of Business Administration

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Abstract – In an effort to maintain energy sufficiency in Indonesia, PT Pertamina Gas is currently facing a request from PT Persada Agung Energi to distribute gas to Lippo Cikarang for the next 9 years. In which previously, this cooperation requires the development of gas distribution pipeline in Bekasi Fajar Industrial Estate. So in this regard, a financial feasibility analysis needs to be conducted to assess this investment and determine the toll fee as the revenue source for PT Pertamina Gas and the distribution tariff for PT Persada Agung Energi in using the pipeline. It will be performed by using consideration of capital budgeting techniques and the Minister of Energy and Natural Resources Regulation No. 58 Year 2017, which set the maximum internal rate of return at 11%. Then, with a hurdle rate of 10.5%, it turns out that the toll fee of $ 0.11085 per MSCFD and investment cost of $ 375,132.40 can yield a net present value of $ 8,945.02, discounted payback period of 8.78, and profitability index of 1.27. In addition, the risk assessment performed is deemed to be measurable and can be tolerated by PT Pertamina Gas. So financially, this pipeline investment is considered feasible to conduct.Keywords: distribution pipeline, financial feasibility study, gas infrastructure, investment analysis 
Strategy formulation and recommendation for “silverstone” synthetic leather apparel Maharani, Tiara; Inggriantara, Alibasjah
The Indonesian Journal of Business Administration Vol 7, No 3 (2018)
Publisher : The Indonesian Journal of Business Administration

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Abstract - Based on data from McKinsey Global Institute stated that consumer tendency in Indonesia in clothing shopping will tend to increase. Silverstone is one of the local brands engaged in the fashion industry of synthetic leather. Silverstone started his business since 2012. After struggling for 5 years finally Silverstone managed to expand its business. This is marked by an increase in sales figures. Since the beginning Naufal, the owner of Silverstone, runs this business alone. This is usually done in the early phase of business to minimize the cost to be incurred. As sales increase, Naufal needs a new strategy to enter the growth phase. The method used are observation and interview with the owner. In analyzing the internal factors researcher use Value Chain Analysis, Marketing Mix and assessment on existing Business Model Canvas. As for the external analysis researcher uses Porter's Five Forces and PESTEL. SWOT is a summary of internal and external company analysis (Silverstone). Company strategy is formulated by Quantitative Strategic Planning Matrix (QSPM) method based on IFAS AND EFAS matrix. The result of QSPM calculation, Silverstone suggested to use intensive strategy. This strategy aims to improve the company's competitive position with existing products. This strategy consists of market penetration, market development and product development. Silverstone also needs to establish an organizational structure to facilitate the strategy to be implemented. To grow into a big company, Silverstone have to implement its corporate strategy and functional strategy. Keywords : business strategy, clothing business, business model canvas
Market acceptance of moving vehicle advertising in indonesia Ramadhan Pangestu, Dimas; Dellyana, Dina
The Indonesian Journal of Business Administration Vol 7, No 3 (2018)
Publisher : The Indonesian Journal of Business Administration

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Abstract. The advertising industry is growing rapidly nowadays, and many advertising companies are sticking to their advertising technology that has already been applied. However, the growing age of many companies engaged in industry innovation by offering to advertise with new and creative methods. VAS is present in 2017 in Indonesia as a start-up involved in advertising that provides a way of advertising by combining business models Facebook Ads with other running ads. The objective of this study was to find out how prepared the market would be to accept new VAS technologies, and whether the advertising methods offered by VAS would be more profitable for companies to advertise outside. The discussion of this problem will be analysed in several ways by examining internal and external, to know the internal of VAS using SW (Strength and Weakness), Business Model Canvas, and Technology Readiness Level. After knowing the internal-external then it will be analysed by using OT (Opportunities and Threat), PESTLE, Porter 5 Forces, Competitor Analysis, Standard and Market Acceptance, and this research will use AHP (Analytical Hierarchy Process). The results of this study show that the market has been able to accept new concepts to advertise with online and offline methods using outdoor media. The most important thing to be used as a reference to select advertising media is from the performance of the ad generated from the ad company. Keywords: Market Readiness, AHP, Advertising Industry, Business Mode, Advertising, Moving Vehicle Advertising Abstract. The advertising industry is growing rapidly nowadays, and many advertising companies are sticking to their advertising technology that has already been applied. However, the growing age of many companies engaged in industry innovation by offering to advertise with new and creative methods. VAS is present in 2017 in Indonesia as a start-up involved in advertising that provides a way of advertising by combining business models Facebook Ads with other running ads. The objective of this study was to find out how prepared the market would be to accept new VAS technologies, and whether the advertising methods offered by VAS would be more profitable for companies to advertise outside. The discussion of this problem will be analysed in several ways by examining internal and external, to know the internal of VAS using SW (Strength and Weakness), Business Model Canvas, and Technology Readiness Level. After knowing the internal-external then it will be analysed by using OT (Opportunities and Threat), PESTLE, Porter 5 Forces, Competitor Analysis, Standard and Market Acceptance, and this research will use AHP (Analytical Hierarchy Process). The results of this study show that the market has been able to accept new concepts to advertise with online and offline methods using outdoor media. The most important thing to be used as a reference to select advertising media is from the performance of the ad generated from the ad company. Keywords: Market Readiness, AHP, Advertising Industry, Business Mode, Advertising, Moving Vehicle Advertising
Layout proposition to enhance production performance of pt. Mutiara jaya prahasta Prawira, Pandu; P.K. Bintoro, Bambang
The Indonesian Journal of Business Administration Vol 7, No 3 (2018)
Publisher : The Indonesian Journal of Business Administration

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Abstract – PT Jakarta International Container Terminal (JICT) is the first container terminal that has the most advanced equipment in Indonesia. PT JICT has experienced uptrend of import dwelling time using linear trend model has increased in from 2016 to 2017, as well as YOR. The situation in the field shows that the deposition or accumulation of containers might be prolonged which made dwelling time became longer and it affected the level of yard occupancy ratio (YOR). The methodology used in this research is Kepner – Tregoe (KT) Approach, which was supported by Cause and Effect Analysis (Fishbone Diagram) in problem analysis and Analytic Hierarchy Process (AHP) in decision analysis with six hierarchies used in this research based on the stakeholders which classified by governmental institutions including customs, regulator, and ministries and non-governmental institutions including PT JICT, importers, trucking and warehousing services. It includes the alternative option strategies: (a) Improving the quality of equipment, infrastructures and operational systems. (b) Creating Early Warning System model among stakeholders. (c) Optimizing internal trucking and warehousing. (d) Optimizing single window services. (e) Proposing regulations by evaluation from operational point of view. Based on the AHP, resulting Importer is the highest priority weight (0.308) which indicates that Importer is stakeholder that has the most impact in dwelling time issue. Followed by Ministries in the second priority (0.215). Third place is occupied by the Regulator (0.197). Then, Customs is prioritized on the fourth (0.116). Next, Trucking & Warehousing Services is prioritized on the fifth (0.073). While the last priority is PT JICT (0.056). Under overall alternative strategy priorities, creating Early Warning System model among stakeholders occupies the highest priority weight (0.317) which will be the most prioritized strategy in solving high dwelling time import containers in PT JICT. N.CO (Notification Cargo Owner) is an Early Warning System model that supports the container terminal in dealing with dwelling time issue.Keywords: Analytic Hierarchy Process (AHP), Decision Making, Dwelling Time, Kepner – Tregoe, Yard Occupancy Ratio (YOR)
Financial performance evaluation and correlation of selected key financial ratio and stock price: a case study of indonesia lq45 state owned enterprises construction companies Perdana Suherman Putra, Aditya; M. Daryanto, Wiwiek
The Indonesian Journal of Business Administration Vol 7, No 3 (2018)
Publisher : The Indonesian Journal of Business Administration

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Abstract. Indonesia Infrastructure development budget of 2015 – 2019 reached Rp 4.197 trillion and 42 percent of it relies on the State Owned Enterprise (SOEs) income. Adhi Karya (ADHI), Jasa Marga (JSMR), PT. PP (PTPP), Wijaya Karya (WIKA) and Waskita Karya (WSKT) are five SOEs Construction Companies listed in LQ45 in July 2018 and act as a responded in this study. The objective of this study is to measure company financial health using eight ratios investigating; 1) return on equity, 2) return on investment, 3) cash ratio, 4) current ratio, 5) collection period, 6) inventory turnover, 7) total asset turnover and 8) total equity to total asset ratio based on audited financial reports of 2013 – 2017 and be validated using the decree of Ministry of SOEs No.KEP100/MBU/2002. Validation using statistical method was also been used by The Pearson Product-Moment Correlation Coefficient (PMCC) to determine the correlation of financial performance with stock price. The results show that the five SOEs were in healthy conditions, except ADHI in 2016 and JSMR in 2013 – 2015 and 2017. The rank of health level were as follow; 1) WSKT (AA, AA, A, AA, AA); 2) PTPP (AA, AA, AA, A, AA); 3) WIKA (AA, AA, AA, A, A); 4) ADHI (AA, AA, A, BBB, A) and 5) JSMR (BBB, BBB, BBB, A, BBB). PMCC shows that the Net Profit Margin has the strongest significant correlation with stock price. Keywords: financial ratios, financial health assessment, SOEs construction, stock price, PMCC.
Credit risk gap analysis for business loan expansion of pt. Bank sulutgo Istar, Mario; Kaderi Wiryono, Sudarso
The Indonesian Journal of Business Administration Vol 7, No 3 (2018)
Publisher : The Indonesian Journal of Business Administration

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Abstract. In order to become competitive, strong and give more economic contribution to regional growth, The Financial Service Authority of Indonesia (OJK) in 2015 launched Regional Development Bank (BPD) Transformation Program. OJK together with Association of Regional Development Bank (ASBANDA) have set up framework that conveys a holistic and balanced between business aspect, risk, and supporting foundation. BPD Transformation Program has vision, “To become highly competitive bank, strong, and significantly give contribution to equitable and sustainable regional economic growth”. In order to achieve such goals, there are few basis problems to be managed structurally, they are: (1) low contribution to local economy due to low rates of productive credit (business loan) with market share only 26% all BPDs (74% are other banks), (2) insufficient of good governance, human resources, risk management, and infrastructure that triggered the increasing of Non-Performing Loan (NPL) of productive credit segment. PT. Bank SulutGo (BSG), as one of the regional development banks has the obligation and responsibility to follow the program. One of the main issues that arises is portfolio management. BSG’s portfolio mainly are consumptive credit (90%) with small number of productive credit (10%), therefore the bank is exposed to credit risk. Through qualitative approach done by interview and questionnaire, this study aims to find the root cause why is it the business loan rate is low. In addition, the author conducts GAP analysis focus on credit risk to find answers and purpose solution for BSG to expand the segment. The result of the study suggests that the bank has to focus to prepare three aspects, they are: (1) Raising Core Capital, (2) Modernize integrated IT&IS infrastructure and (3) Develop HR (human resources development. Additionally, from seven categories of GAP analysis, BSG has to put more attention on operational activities, adequate credit risk control, credit risk and credit risk mitigation as priority 1 (most important) to be coped. Secondly, the bank has sufficient measurement and monitoring process and credit rating, therefore it should be priority 2 (important). Finally, due to well established risk awareness within BSG, culture building of the bank should be put last priority 3 (less important).Keywords: credit risk, GAP analysis, business loan, regional development bank, economic contribution.
Economic analysis of the underground coal gasification (ucg) in Indonesia Ali Setiawan, Ganjar; Sunitiyoso, Yos
The Indonesian Journal of Business Administration Vol 7, No 3 (2018)
Publisher : The Indonesian Journal of Business Administration

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Abstract. Indonesia has been facing dramatic changes in natural gas industry development, which contributes to economic prosperity and reduces reliance on petroleum fuels. Indonesia's gas markets will continually growth to support economy development. Resources availability and government eagerness to utilise more on natural gas will lead Indonesia to become one of the major gas consumers in the future. This is the potential market for natural gas industry and also an opportunity for natural gas Company to accelerate the company's business growth. This study aims to identify conditions that might occur in the natural gas business industry in Indonesia for the next five years using a scenario planning approach. This is very useful to anticipate possible implications that will arise on the natural gas industry, so that PT. Natural Gas (“PNG”) can prepare business solutions for conditions that might occur. This scenario planning process started by exploring the natural gas industry condition in Indonesia using the SWOT analysis (Strength, Weakness, Opportunity, and Threat). To be more profound, external environment analysis done by Porter five forces and PESTEL  (Politic, Economy, Social, Technology, Environment and Legal) analysis methods, while the internal analysis uses the VRIN (Valuable, Rare, Inimitable, Non substitutable) method. All of these analyses were used to understand how PNG run the businesses, why, where, and when. Based on the results of business analysis and conducting interviews with those who directly involved in the natural gas industry, two key driving forces that greatly affected the natural gas business in Indonesia were found, namely infrastructure and natural gas prices. From here, four scenarios arise about the natural gas industry possible condition in Indonesia. Finally, a strategy recommendation appears that is suitable to be applied for each possible condition. Things that needs to be done is to conduct an external conditions evaluation continuously and identify signals that arise from the external factors and focus on trends that occur compared to signpost in each scenario.Keyword: Scenario planning, business strategy, infrastructure, natural gas price, economic growth.
Proposed performance management system for project based organization in pt telekomunikasi indonesia, tbk (case study: digital project) Alberto, Richard; Ros Bangun, Yuni
The Indonesian Journal of Business Administration Vol 7, No 3 (2018)
Publisher : The Indonesian Journal of Business Administration

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Abstract. (Introduction) To achieve the vision of King of Digital in The Region and achieve the 2018 Striving Triple Double Digit Growth target (Revenue, Net Income and EBITDA), PT Telkom needs to change the organizational structure which is still based on the structure-based organization. The flexible organizational structure will provide acceleration to create new and innovative digital products and services and can no longer rely on legacy products. Changes in flexible organizational structure of technology has become a very important thing to be done to win the competition in the digital era. (Methods)One of the main aspects of flexible organization is designing performance management system (PMS) that can motivate employees to be able to (Results) provide innovations in digital products and services. (Conclusion) Fit PMS will help member of digital project to explore his innovation and make impact to digital business.Keywords: design, digital, , organization, project, performance

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