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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
Arjuna Subject : -
Articles 1,144 Documents
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Analyzing Factors Influencing Concertgoers on Revisit Intention at Online Music Concert Using PERVAL Framework
The Indonesian Journal of Business Administration Vol 10, No 3 (2021)
Publisher : The Indonesian Journal of Business Administration

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Abstract

The music industry is one of the industries that contributes the most to the country’s GDP, contributed 8% in 2017 and contributed to the creative economy GDP of IDR 4.89 trillion. Concerts or festivals are one of the crucial mediums for the development of the music industry. Due to the COVID-19 pandemic, causing a decline in the music industry. There were 113 concerts, tours, and music festivals that were delayed as of April 2020, currently around 50,000 creative workers in the music festival event industry are in danger of losing their jobs, and 1,218 organizers throughout Indonesia, the minimum potential loss obtained is IDR 2.69 trillion and a maximum of IDR 6.94 trillion. This causes event promoters and musicians must adapt to the current conditions that prohibit crowds of people, by holding online music concert. Based on the problem, this research aims to analyze factors influencing concertgoers willing to move from live music concert to online music concert and revisit intention at online music concert.There are several related theories in this research, including PERVAL framework. It showed that perceived value is a strong indicator and positively influences future purchase intentions or behaviour. This research used a quantitative method by using questionnaire to collect the data via Google Forms. The data was distributed to 200 respondents who have attended online music concert. There are several other variables in this research, which are satisfaction, loyalty, and motivation.The data is processed using SmartPLS 3 software to conduct a Path Analysis. The findings show that emotional value, social value, quality value, and price value significantly influence satisfaction. Satisfaction and loyalty significantly influence revisit intention at online music concert. But motivation variable does not have a significant value on revisit intentions at online music concert. Keywords: PERVAL Framework, Satisfaction, Loyalty, Motivation, Revisit Intention, Online Music Concert
The Impact of Monetary Policy on Financial Performance of Indonesia Commercial Banks: Evidence from Major Challenges during the COVID-19
The Indonesian Journal of Business Administration Vol 10, No 2 (2021)
Publisher : The Indonesian Journal of Business Administration

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Abstract

This study investigates the impact of Bank Indonesia through its monetary policy response on financial performance of Commercial Banks Group of Business Activities 3 and 4 amid the rising of recent global uncertainty and economic shocks due to COVID-19 outbreak. The sample of this study is in the form of balanced panel data that comprises 33 commercial banks in Indonesia over the period of 2016:1 to 2020:3. To control the effect of the monetary policy responses during the COVID-19 pandemic, this study applied a dummy variable. This study performed a two-step system Generalized Method of Moment (GMM) to achieve the aims of the study. The results show that the lagged dependent variables, monetary policy interest rate, net interest margin, and reserve requirement statistically have a positive impact on bank profitability. The COVID-19 pandemic statistically has an inverse relationship with banks’ performance, it indicates that the occurrence of this virus has disrupted the business of the banks by eroding its financial performance. This study suggested that Bank Indonesia should continue implementing the expansionary monetary policy to maintain the effectiveness of monetary policy transmission in the bank lending channel.Keywords: Monetary Policy, Return on Assets, Return on Equity, COVID-19, Two-step System GMM.
Portfolio Optimization on Stocks from Agriculture, Finance, Mining, and Trade Sectors using Markowitz Method
The Indonesian Journal of Business Administration Vol 11, No 1 (2022)
Publisher : The Indonesian Journal of Business Administration

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Abstract

Abstract. The year of 2020 has become an unpleasant year for people around the world because of the COVID-19 virus outbreak. To minimize the outbreak, Indonesian government enforced lockdown, which resulted in the decrease of people’s purchasing power. This situation affecting the sales of many companies which resulted in many losses. It makes the economy falls and goes into recession. The fall of the economy also affecting the capital market, which has fallen into the lowest point in the last five years. In this situation, investors need to be careful in managing their investments, especially in equity investment, because equity market is strongly influenced by economic condition and market sentiment. One way to manage the investment is by analysing the portfolios’ composition that will give high return with minimum risk. The model that is commonly used for portfolio calculation is Markowitz method. This method aims to construct portfolio that will give certain return and know how much the risk is by doing diversification. Based on the industrial sector growth, there are four sectors that constantly growing more than Jakarta Composite Index (JKSE) in recent months. Those sectors are Agriculture, Finance, Mining, and Trade. The stocks will be selected from those four sectors. This final project uses daily adjusted closed price data on the Indonesia Stock Exchange downloaded from yahoo finance from January 2016 to April 2021. The portfolio is analysed using the Markowitz method. The Markowitz method produce an optimum portfolio with 54,81% annual return and 24,42% risk. This portfolio consists of 26,11% DEFI; 14,92% ZBRA; 12,21% ANTM; 8,95% WICO; 8,81% INDY; 8,54% BINA; 8,21% PTRO; 6,26% BBHI; and 6,00% KONI. The Net Asset Value from this portfolio is Rp10.745.Keywords: Investment, Portfolio, Return, Risk, Markowitz
Proposed Marketing Strategy For CN235-220 Aircraft to Enter Latin America & Africa Region
The Indonesian Journal of Business Administration Vol 10, No 3 (2021)
Publisher : The Indonesian Journal of Business Administration

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Abstract

In the last five years PT Dirgantara Indonesia (PTDI) has experienced a decline in its military aircraft business portfolio, the problem is that PTDI is very dependent on the Ministry of Defense's strategic plans and focused to penetrate the Asia Pacific Region. On the other hand, many CN235 aircraft operating in Latin America and Africa are already aging and are likely to be replaced with PTDI products. In addition, other problems come from the marketing mix, limited marketing & sales manpower and the absence of monitoring and evaluation. To formulate the right strategy, the author uses internal analysis, namely VRIO analysis, STP (Segmenting, Targeting, and Positioning) and Marketing Mix. In addition to external analysis, the authors use CAGE distance, PESTEL analysis (Political, Economic, Sociocultural, Technological, Ecological, and Legal), Porter's 5 Forces analysis, competitor analysis, and customer analysis. From the whole analysis, the marketing strategy to enter Latin America can be started from Chile, the global strategy is to use the Global Standardization Strategy with a joint venture entry vehicle, the proposed marketing strategy, for the product starts from support excellent product support and provides maintenance and modification for the CN235 aircraft in Latin America after that PTDI can offer to sell aircraft products. For Price, PTDI can offer a financing scheme, for Place PTDI can collaborate/joint venture with local companies, for Promotion, PTDI can participate in aviation exhibitions, make marketing events with vendors, make presentations, and collaborate with the Indonesian Embassy and Athan in Latin America . For Africa, can starting from Morocco, the proposed strategy for the product is to be able to sell CN235 aircraft with the same business scheme as Senegal, serve aircraft services, develop new configurations for CN235-220 aircraft. For Price, PTDI can offer financing schemes and conduct countertrade schemes, for Place PTDI can strengthen collaboration with existing resellers and open cooperation with marketing representatives in potential countries, and build maintenance center facilities. For promotion, PTDI can participate in aviation exhibitions, roadshows to African governments, and collaborate with the Indonesian Embassy and Athan. The implication of those PTDI global strategy, the suitable organizational structure is Multidivisional structure.Keywords: Military aircraft, global standardization strategy, joint venture, marketing strategy
Proposed Marketing Strategy for Terracotta
The Indonesian Journal of Business Administration Vol 10, No 2 (2021)
Publisher : The Indonesian Journal of Business Administration

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Abstract

Urban life which is synonymous with traffic jams, congestion, and busyness causes boredom. This boredom can have an impact on decreasing one's productivity at work. This phenomenon creates a new trend for nature tourism because it assesses that air quality is better and away from congestion. One of the most popular cities for traveling is Sukabumi. The tourism industry is one of the main contributors to Indonesia's GDP. With this phenomenon, the competition is getting tougher. Terracotta as one of the industry players in Sukabumi has not shown good results. Regarding Terracotta trying to improve its facilities through analysis of current business conditions. The researcher conducted an internal analysis using the 4P marketing mix analysis to determine the current conditions, the lack ofpromotion made Terracotta difficult to reach the market. This underutilization meant Terracotta was not well known, so his reputation had not yet been established. In addition, Terracotta does not yet have facilities and activities that support and can be carried out by customers while staying at Terracotta. Then the researchers conducted an external analysis using competitor analysis and customer analysis, Terracotta has problems in competition. Terracotta's competitors took precedence and were better known. They also have promotional media such as websites and billboards to attract customers to visit their villas. Competitors also have facilities and activities that support overnight stays. To get more customers, Terracotta needs to expand its facilities by building various facilities and activities. The construction of the villa is adjusted to the customer analysis that has been carried out previously to suit customer needs. To reach a wider market, Terracotta needs to carry out promotional activities. Promotional activities are carried out both online and offline.Keywords: Tourism Industry; Villas; Marketing Strategies.
Proposed Marketing Strategy to Increase Foreign Surfers Intention to Visit Ciletuh-Palabuhanratu Unesco Global Geopark
The Indonesian Journal of Business Administration Vol 10, No 1 (2021)
Publisher : The Indonesian Journal of Business Administration

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Abstract

Ciletuh-Palabuhanratu UNESCO Global Geopark (CPUGGp) is the first West Java Geopark located in Sukabumi Regency, and received UNESCO Global Geopark status in 2018. As a tourist spot, CPUGGp provides three geoparks that attract tourists, such as: earth diversity, biodiversity, and cultural diversity. Although CPUGGp had the highest number of visitors in 2018 with 1,175,258 visitors, compared to foreign visitors who came to Indonesia in 2019, GGPG in 2019 fell by 26% to 873,894 visitors, and CPUGGp still 1% of them. The theoretical method of this research is to use customer analysis, perform external analysis of the general environment (PESTEL) and industrial environment (Porter 5 Forces), and perform an internal analysis of a resource-based model. The methodology used for customer analysis uses multiple regression analysis. Education, relaxation, joy, comfort, attraction, intimacy with locals and a variety of destination activities. At the same time, the visit intention is the dependent variable. It turns out that the results that affect the intention of the visit are interest, intimacy with the surrounding community and various destination activities. The results of this analysis will be developed as a comprehensive marketing communication strategy to achieve surfers’ motivation, which is expected to increase their willingness to visit CPUGGp. Keywords: Motivation; Geopark; Ciletuh UNESCO global Geopark; Internal Analysis: External Analysis; Customer Analysis; Surfer
ANALYZING EMPLOYEE ENGAGEMENT TO IMPROVE EMPLOYEE PERFORMANCE AT BNI KC KUNINGAN DURING PARTIAL LOCKDOWN
The Indonesian Journal of Business Administration Vol 10, No 3 (2021)
Publisher : The Indonesian Journal of Business Administration

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Abstract

The VUCA condition caused by the Covid-19 outbreak has significant impact on BNI’s business, including the increase in NPL (non-performing loans) and increasing use of e-money. BNI’s employees are required to work harder to be agile in a VUCA situation. Based on the results of employee performance appraisals in 2020, it is known that the performance of BNI KC Kuningan employees is not satisfactory. This research uses a mixed method, which consists of quantitative and qualitative data. First, researcher conducted a brief inteview to HR Department. Then, conduct a survey. The survey was conducted by distributing questionnaires to 41 samples of BNI KC Kuningan employees. Next, conduct in-depth interviews to confirm the survey results. According to the results of the initial interview, it was found that the cause of unsatisfactory employee performance was the lack of attachment between employees. Furthermore, a survey was conducted to measure the level of employee engagement. For further analysis, the four bottom score need to be improved, include communication between employees and management, recognition of employee performance, employee initiative, and employee effort at work. Then, conduct in-depth interviews to confirm the results of the survey and get the root cause of the problem.Keywords: Employee Engagement, Employee Performance, Communication, Reward and Recognition.
Analysing Consumer Behavior for Healthy Food and Beverages to Create Marketing Strategy for Early-Stage Company
The Indonesian Journal of Business Administration Vol 10, No 1 (2021)
Publisher : The Indonesian Journal of Business Administration

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Abstract

The rise of awareness of links between food and health has been one of the most advanced social development in the past years. Health awareness related to food continues to rise as the availability of health information, technology, growing population, and increased risk for lifestyle disease also rise on the surface. The challenges faced by Temandni was shallow knowledge about the behaviour of the potential market. As the first step, research is conducted to analyze customer behaviour, and the research finding is aimed to evaluate and renew the marketing strategy.The research is a mix method study through the interview with 15 proposed interviewees and surveys from 215 respondents to gain insights for customer behaviour study. The qualitative study is used as an explorative study and continuous by confirmatory research used K-means cluster and ANOVA test for customer segmentation.According to the findings, it is founded that there are three different segments; cluster 1, cluster 2, and cluster 3. Each cluster has its characteristic. Cluster 1 is recommended to be chosen along with the recommendation on STP and mix marketing on Temandni. Keywords: Customer Behaviour, Healthy food, marketing strategy
Financial Feasibility Of Waste To Food Business Model As Integrated Alternative Solution To Solve Waste Problem & Food Security
The Indonesian Journal of Business Administration Vol 9, No 3 (2020)
Publisher : The Indonesian Journal of Business Administration

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Abstract

This research examines the feasibility of Waste to Food concept program from the financial side and determines alternatives in its implementation. Waste to Food is a solution idea in handling organic waste while supporting the food security program. In the concept of this program, the people involved will be invited to separate organic waste and store it in the Black Soldier Fly maggot reactor (the product of LPIK ITB innovation). In the reactor, organic waste will be processed by maggot Black Soldier Fly (BSF) and later the maggot BSF will become a source of animal feed. In this study, selected livestock were laying hens. So, the final food product of this program is eggs. The calculation in this study was carried out within the scope of the RW scale involving 200 houses, 200 laying hens and the calculation time for 5 years.Before creating the business model and making a feasibility calculation, analysis is done first through the PESTLE & SWOT analysis method, literature studies, interviews & group discussion forums with experts and relevant stakeholders are also carried out in this study in determining considerations, assumptions and alternatives choices which are then examined. There are 4 variables that become criteria in alternative scenarios, the composition of laying hens feed from maggot BSF, eggs production, eggs prices and labour wages. For the composition of feed from maggot, this study made 3 alternatives that are 80%, 50% and 20%. For eggs production, the alternatives that chosen are 90%, 80% and 70%. For the price of eggs, the alternatives are Rp. 26.000, Rp. 23.000, and Rp. 20.000. For the labour wages, the alternatives are Rp 3.500.000, Rp 2.800.000, Rp 2.100.000.The optimistic scenario calculation shows the results of the Internal Rate Return (IRR) of 38,1 % and the Payback Period (PP) of 3 years. Calculations for moderate scenarios show IRR results of 23,62 % and PP 3 years 7 months. Calculations for the pessimistic scenario show an IRR of 18,97 % and a PP of 3 years 9 months. After calculating the financial feasibility study, the results show that the Waste to Food program is financially feasible for all scenarios and can be an alternative model that can be applied. Besides factors related to finance & business; collaboration with citizens and all stakeholders, determination of rewards for those involved, has become an important support in the successful implementation of Waste to Food. Keywords: organic waste, Black Soldier Fly Larvae, Maggot BSF, waste to food, food security, laying hens, eggs
IMPROVEMENT ON FISHING JOB PERFORMANCE ON TUBING PUMP STUCK IN HEAVY OIL OPERATION THROUGH LEAN SIX SIGMA METHODOLOGY (A Case Study in Duri Field - PT. CDI)
The Indonesian Journal of Business Administration Vol 9, No 3 (2020)
Publisher : The Indonesian Journal of Business Administration

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Abstract

PT. Calgary Duri Indonesia (PT CDI – a disguised name) is a major Oil Company in Indonesia, PT CDI manages many fields which are located in around Duri City Riau Province. Every year Completion and Drilling (C&D) conducted 2000 workover jobs and 600 of them were conducted in Duri filed. 15% of that are related with tubing pump stuck. Most of production wells in Duri field are produced using sucker road pump. Road pumps become stuck due to buried by unconsolidated sand. There are several approaches to recover this stuck tubing pump, such as pulling out with high over pull, using surface jar, and conducting fishing job technic. During 2018 PT CDI spent US$ 2 Million dollars for conducting fishing tubing pump stuck and replace it with the new tubing pump. During this execution, team was experience with big nonproductive that adding unnecessary cost to the company. Company established and assigned a team to solve the problem through Lean Six Sigma. It uses systematic framework that comprise of five steps namely DMAIC (Define, Measure, Analyze, Improve, and Control). Project team performing Forum Group Discussion (FGD) to help project team during define, measure and analyze the problem including recommended the solutions.Team conducted improvement process in 4 steps; develop fishing handbook, improve SOP for wash pipe operation, Rig Schedule improvement and Contract Improvement. This process improvement was start in May 2019 and the last improvement was began in October 2019.During improvement phase the result are showing cycle time reduction and cost reduction. Cycle time was reduced from average 3.6 days/well become 3.1 days per well. Cost was reduced from US$ 28.6K/well to be US$27/Well. This project was implemented to the rest of program RLN-07 Through strong collaboration among team including and strong support from Business Partner, the project execution performance was improved significantly. The result of deployment in 27 wells, the cycle time was improved from average 3.6 days/well to 2.8 days/well and the cost reduced from average US$ 28.6K/well became US$ 24.9K/well. The Cpk of workover drilling cycle time was improved from 0.4848 to 1.3833 and Cpk for well cost was improved from 0.5904 to 1.1986 with sigma level higher than 5.5. As the result, the project team could save cost around $ 154K and potential to safe US$1 M. Keywords: Lean Six Sigma, Fishing Job, Cycle time, Well cost, SOP

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