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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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Stop Loss Order Performance Analysis Based on Value at Risk Using EGARCH (1,1) Model in EUR/USD Forex Trading Danar, Halley Miraj; Surya, Budhi Arta
The Indonesian Journal of Business Administration Vol 4, No 1 (2015)
Publisher : The Indonesian Journal of Business Administration

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Abstract

Abstract.In forex trading, price movement can not be predicted and can be against what traders think. Loss is unevitable for traders, especially traders that use margin and leverage. Scalping is one of trading styles in forex market. Scalping style depends on the volume of transaction in forex trading. Scalping really depends on the accuracy of trading strategies in generating trading signal. Sometimes false signal occurs and to reduce the loss in trading, stop loss order may be an alternative to reduce the loss. This research\ emphasizes in determining stop loss order based on Value-at-Risk (VaR) in scalping trading style using moving averages cross over. 4 types of moving averages ; simple moving averages (SMA), linear weighted moving averages (LWMA), smoothed moving average (SMMA), and exponential moving average (EMA); are used to test how good VaR can be used as stop loss order. From trading simulation using 17785 EUR/USD data from December 2, 2013 until February, 28 2014, all of moving averages trading strategies may cause 38.6% average loss from beginning balance.VaR depends on the variance. 2 kinds of variance, conditional and unconditional, will be calculated and compared. Conditional variance calculated based on EGARCH (1,1) model based on 17785 EUR/USD data from December 2, 2013 until February, 28 2014 in 5 minutes time frame. Unconditional variance calculated based on the position of trading. From in-sample trading simulation, by using stop loss order based on VaR using EGARCH (1,1), the end balance will only have 15.08% average loss compare to 38.6% average loss without using any stop loss order. Using unconditional VaR as stop loss order will generate 31.84% average loss.Backtest conducted to test the performance of EGARCH (1,1) model as the basis in VaR calculation. Backtest conducted using 1000 period of EUR/USD data from March, 3 2014 until March, 6 2014 in 5 minutes time frame. From backtest trading simulation, stop loss order using VaR based on EGARCH (1,1) can reduce the loss to 1.515% from beginning balance from 4.785% loss when no stop loss order used averaged for all moving averages trading strategy. Unconditional VaR as stop loss order can only reduce the loss to 1.73% from beginning balance. It can be concluded that VaR based on EGARCH (1,1) can be used as stop loss order to reduce the loss occured during trading. To implement this model, it is recommended that this concept need to be combined with “Expert Advisor” to reduce the time needed in calculation.Keywords: Value-at-Risk (VaR), EGARCH, Stop Loss Order, Forex Trading 
Packaging Design As A Brand Building Tools For Diet Rice - Organic Black Rice Febriani, Rima; Buchori Zainuddin, Imam
The Indonesian Journal of Business Administration Vol 5, No 3 (2016)
Publisher : The Indonesian Journal of Business Administration

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Abstract

Abstract - Diet Rice was founded in Bandung around the beginning of 2014, and since the establishment of these products are marketed as substitute products that can enhance a healthy lifestyle in the society in Indonesia. Supported by the tendency of a healthy lifestyle is emerging favored by the people, resulting in intensified competition in the healthy food products on the market. Within a year of his journeys, these products are experiencing a decrease in sales. Eventually the efforts to market products better by way of changing the packaging design. Packaging is important as assessed the process of improving the value brands as media delivery in communicating corporate identity and image of the product itself. Earlier Rice Diet did indeed have not yet found the right packaging concept for building the company's brand, to fix this problem then the steps you need to do is do some research by changing the shape of the packaging of a Rice Diet against potential consumers of this product. Through semantic differential approach, Rice Diet can direct form of packaging that is in accordance with the vision and the concept of Diet Rice itself so that it can build an effective brand. Research carried qualitative with in-depth understanding of human behavior and objects that can be observed and quantitative by sampling process through test questionnaire to find out how consumers perception of Diet Rice packaging, and for the further processed by the semantic differential with assess alternatives prototype for Diet Rice’s new packaging design. Keywords : Organic Rice Business, Packaging Design, Brand Building, Diet Rice
Capital Budgeting Strategy of Power Plant for Internal Use: Case Study of Coal Fired Steam Power Plant (CFSPP/PLTU) 2X55 MW PT. Bosowa Maros Energi for PT. Semen Bosowa Maros in Kabupaten Maros, South Sulawesi Faremi Adirama, Farza; Sumirat, Erman
The Indonesian Journal of Business Administration Vol 6, No 3 (2017)
Publisher : The Indonesian Journal of Business Administration

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Abstract. This paper discusses the Power Plant financing scheme for PT. Bosowa Maros Energy (BME) to be undertaken by PT. Semen Bosowa Maros (SBM). This power plant will be used to support the performance of PT. SBM in the future, as today machine utilization of PT. SBM is currently still below 50%, due to PT. SBM recent investment on Bosowa Cement Line-Unit II. In the future, with the operating Cement Line-II, production capacity of Semen Bosowa Maros will reach 85 percent of its capacity (on average) or equivalent to 85 MW of electricity use. Power Plant to be built will use Steam Power Plant (PLTU) system. All aspects of PLTU must be prepared, including selection of location, technical specification and machine, coal requirement, and so on. Legal and environmental aspects also need to be studied so as not to disturb with aspects of community life and Indonesian Law. Finally, the financial aspect must be calculated carefully so that the return of this investment can run well within the specified time period. The feasibility study of this paper is feasible according to the financial calculation, either by NPV, IRR, or Pay Back Period (PBP) parameters, so we can expect the development continue.Keywords: Feasibility Study, Electricity, Steam Power Plant (PLTU), PT. Semen Bosowa Maros (SBM), PT. Bosowa Maros Energy (BME)
Disruptive business model development of telkomsel m2m through cross-industry innovation Permana, Addy; Rudito, Priyantono
The Indonesian Journal of Business Administration Vol 5, No 2 (2016)
Publisher : The Indonesian Journal of Business Administration

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Abstract

Abstract - The main challenge for mobile telecom operators is how to innovate their products and services to get sustainability growth. With revenue of legacy voice and SMS tend to decline and increasing demand for broadband data services. Telecom operators must develop the right products based on  broadband technology to keep growth and compete. Telkomsel as the largest mobile operator in Indonesia is undertaking a business transformation. Developing solutions Machine to Machine (M2M) is one of the masterpiece programs. Telkomsel M2M business is designed to trigger the growth of the digital ecosystem in Indonesia which further strengthen the foundation of digital service Telkomsel. By using the framework of research in the form of external environment analysis (PEST, Porter’s five forces), internal environment analysis (Value Chain and VRIO), then continued in the form of business strategy. Further, create Cross-industry innovation to create business models. Telkomsel M2M Business model will be developed based on business models canvas. Development of the business model is also expected to boost the company's earnings significantly, especially as a new generator in digital business.                                                Keywords: Business Model, Telecommunication, M2M
Proposed New Services And Marketing Strategy For Mavens Studio Imaduddin Islam, Ibrahim; Aldianto, Leo
The Indonesian Journal of Business Administration Vol 5, No 3 (2016)
Publisher : The Indonesian Journal of Business Administration

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Abstract. Indonesia is a country that known as active internet user. In Early 2015, 72,7 million Indonesia (or 28% of total population) are active in using internet. Todays, people not only using internet for accessing news portal or searching an information, but also they using internet to do a lot of things like online shopping, playing games or accessing a social network. 62 million of which social media account are accessing via mobile Since 2008, a huge number of start up company, especially digital start up are rising. It’s possible for Indonesia being the next Silicon Valley in South East Asia. The development of technology, growth of start up company, and growth of  internet user in Indonesia make video being important on digital marketing strategy todays. This situation make Mavens Studio, a company founded in Bandung in 2013 are encouraged to develop its business in the creative industry. Unfortunately, since company appearance, Mavens Studio have a low profit with no marketing effort. To find the roots of these problems the author used PEST, Segmenting, Targeting and Positioning (STP); Marketing Mix and SWOT analysis. From the analysis conducted, it can be concluded that the root of the problem that makes his sales and profit are low, the unclear positioning of the company. To solve the root of the problem, a solution that will be used is by changing the Segmenting, Targeting and Positionong and propose new marketing mix (Product, Price, Place, Promotion, People). Changes occur segmenting in terms of, Type of the client, distribution channel, size of channel, location and consumer behavior. Mavens Studio also change its targeting and positioning. Changes in the STP is the basis of changes in the marketing mix. Some programs of the marketing mix that will be done include creating new services that is Startup, City and Political Branding Services with new price package, rent new office in Jakarta, creating online portfolio, improving social media marketing concept, making a strategic partnership and collaboration project also made system restructuring with a new permanent employee and intern. An implementation plan is made in the form of a table plan. Implementation plan covering time and budget. This implementation began in July 2016 through December 2017. Keywords: Branding Consultant, Sales, STP, Marketing Mix
Realigning pt krakatau argo logistics business strategy to improve business bottom line Putra Dwi Kurniawan, Raditya; Anggoro, Yudo
The Indonesian Journal of Business Administration Vol 8, No 1 (2019)
Publisher : The Indonesian Journal of Business Administration

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Abstract - PT Krakatau Argo Logistics (PT KAL) is a joint venture multimodal transport service company, affiliated to  PT Krakatau Bandar Samudera and PT Krakatau Steel. Established in 2013, PT KAL is primarily intended to support the supply chain of PT Krakatau Posco through long-term contracts. The year 2015 is a challenging period for PT KAL where world steel price condition decreased causing the evaluation and adjustment of tariff of service significantly reduced from PT Krakatau Posco to PT KAL and  impact to declining in revenue and profit of PT KAL in 2015 to 2017. It is important to obtain strategic business in order to ensure business sustainability. The company must consider external and internal factors that influence future business growth through a series of strategic analysis. A series of strategic analysis such as PESTEL analysis, Porter’s five forces analysis, and competitior analysis are conducted to enable the company to take advantage of external opportunities and minimize the impact of potential threats. The internal analysis using Resource Based View, VRIO, and market industry in logistic busniess. Strategic formulation is conducted refer to the external and internal analysis to propose future appropriate strategy of the company.The implementation of such strategies is done in the short and long term by continuously evaluating to pursue its future 5 years objective of increasing revenue and profitability.Keywords : Logistic Business, Business Strategy, PESTEL analysis, TOWS matrix, Business Model Canvas 
Economic Analysis of The Underground Coal Gasification (UCG) in Indonesia Kurnia Hudaya, Gandhi; Tjendrasa, Kin
The Indonesian Journal of Business Administration Vol 7, No 3 (2018)
Publisher : The Indonesian Journal of Business Administration

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Abstract. The demand for primary energy, especially electricity in Indonesia is increasing. Indonesia’s economy has been depended on natural resources as the second main contributor of country’s income. Indonesia is still depended on fossil fuels, especially on oil and gas. Indonesia’s consumption of oil have been exceeded its production since year 2004. There is big possibility that Indonesia need to import gas in 2021 due to the supply is not sufficient. It means that Indonesia new reserves is very important to be found either from conventional gas or unconventional gas.  Indonesia not only has oil and gas but also coal which its resources is quite abundant. There is deep seated coal potency with depth >100 meter below surface in Indonesia that has not been exploited yet. Underground Coal Gasification (UCG) is an unconventional technology that can become the solution to exploit the deep seated coal potential. UCG can be applied  for extracting coal into in-situ gas directly in the underground layers without excavation of rock cover and coal seam first. The objective of this paper is to make economic analysis regarding the implementation of underground coal gasification (UCG) technology in Indonesia. Data are collected from literature, expert and pilot plant in South Sumatra.  From the result of the economic analysis, it can be concluded that UCG project is very potential to be developed in Indonesia. The result of economic indicators are that NPV is $27,069,000,-, IRR is 14% and the payback period is 7 years. Sensitivity analysis on UCG project shows that the project is more sensitive to capital expenditure and electricity selling price and less sensitive to drilling cost, corporate tax rate and coal royalty.Keywords : UCG, economic analysis, deep seated coal 
Proposed Operation Strategy For A Better Service Capacity and Quality at Urban Laundry and Dry Cleaning, Bandung Gandwinatan, Jefry; Larso, Dwi
The Indonesian Journal of Business Administration Vol 5, No 2 (2016)
Publisher : The Indonesian Journal of Business Administration

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Abstract. Urban Laundry & Dry Cleaning is a company engaged in the field of kilos and item laundry services in Bandung that has two major problems in its operation system, it is the target of completion of orders that are often not achieved and the swapped case between customer's clothes. Based on the analysis of the effective capacity and actual demand that occurred during May 2015 until September 2015, it is found two important points to be the root of existing problems. The first is the company's dependency on interpretation on two important processes in production systems/services, namely the recording process and Checking. Interpretation on Characteristic Writing Method caused interruptions and misunderstanding during the process. The second is the high impact of daily demand fluctuations during the month. Interpretation itself can be eliminated by using Write & Tag Method instead of the old method. Urban L&DC can improve the service capacity of up to 21.0% in Kilos laundry service. To mitigate the effects of fluctuations in demand, companies are encouraged to add new workers by adopt the system of part-time labor. The application of these two steps simultaneously increase the target completion of the order of 28.6% to 94.3% and the rate of service quality of critical condition (94.7%) to the optimum conditions (72.9%). In order to Write & Tag Method be able to run consistently, the company is obliged to make a Standard Operating Procedure (SOP) that is easily understood by the entire workforce. To recruit a part-time labor, Urban L&DC can publish the information through online media, newspaper, or through the recommendation of fellow workers. Keywords : operation strategy, service quality, capacity, laundry, Write & Tag Method
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
Decision Analysis of Reorientation Business Strategy Through Corporate Restructuring to Secure Profit Sustainability ( Case Study PT Alam Karya Unggul Tbk) Sembiring, Christian Valentino; Siahaan, Uke MMP
The Indonesian Journal of Business Administration Vol 3, No 11 (2014)
Publisher : The Indonesian Journal of Business Administration

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Abstract - PT Alam Karya Unggul Tbk at first is the company that operates in manufacturing especially plastics and packaging, because of the higher probability of bankruptcy becomes a major problem, in 2013 the company decided to change its core business to coal mine, acquiring Borneo Mining Contractor as a subsidiary. Changing core business ("Business Reorientation" strategy) to coal mining is one of the company rescue effort. However, the directors are still not sure whether the steps taken by them could rescue the company from bankruptcy and make the company profit sustainability. After analyzing the level of bankruptcy using the Altman Z Score, Springate S Score and Zmijewski X Score, can be concluded that the level probability of bankruptcy of the company is very high. Since company produce pp cups and galons also moving show that bankruptcy rate is very high. Board of directors provides four alternative strategies to save and make company profit sustainability. The four strategies are (i) "Company Refinancing" by producing pp cups and galons, (ii) "Product Diversification" by diversifying the product, (iii) "Business reorientation" to continue in coal mining and (iv) "Selling company "to sell the company and bought government bonds with period of 10 years.After performing the analysis using each strategy using projection and same method, generate parameters (i) Net Present Value (NPV), (ii) Internal Rate of Return (IRR), (iii) Payback Period (PP), (iv) Return on Investment (ROI) and (v) Return on Assets (ROA). But the success criteria of profit sustainability only Net Present Value (NPV) from each strategy. After the projection of each strategy, it concluded that "Product Diversification" strategy generates the greatest NPV with value of Rp. 21,238,970,000. For the implementation plan, PT Alam Karya Unggul Tbk must perform Preparation Phase, Pre-Construction Phase and Production Phase to build a factory and doing production.Keywords: reorientation business strategy, financial distress, profitability, product diversification, feasibility study

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