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The Indonesian Journal of Business Administration
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Core Subject : Science,
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 1,144 Documents
New Product Development Strategy of a Risky Early-Researched Product, Case Study : NPD Strategy Decision of Stem Cell-Related Products in BFM Chairindy Pratomo, Luna; S. Hariandja, Evo
The Indonesian Journal of Business Administration Vol 5, No 2 (2016)
Publisher : The Indonesian Journal of Business Administration

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Abstract. Using the case study of product development of stem cell in Indonesia, This paper will explain how to design New Product Development Strategy Framework to support decision-making activity of a challenging new product development in pharmaceutical business, considering its prospect on the market, market needs, technical requirements, risks, and also build a estimation plan of the project timeline to complete the project, as a project proposal to the management. The research provides new product development attributes measurement tools design which can be applied by pharmaceutical company, which could help the company to decide which product is the best options and fulfill its top management’s expectations. The tools used are corporate strategy alignment scorecard, company’s requirement concept selection and testing, and concept assessment based on company’s technical preferences. Based on the research, the chosen stem-cell related product concept which fulfill requirements and criteria of BFM is Conditioned Medium. Keywords : New Product Development Method, Decision Making, Stem Cell Development 
Developing business strategy of warbis prama in food and fashion industry Aulia, Hilmi; Anggoro, Yudo
The Indonesian Journal of Business Administration Vol 7, No 1 (2018)
Publisher : The Indonesian Journal of Business Administration

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Abstract. Warbis Prama is a Business Development Services company. Warbis Prama is part of the Ministry of Cooperation from 2002 until 2014. In 2014 they got independent as they see the opportunities from internal and external factors. There is 57.895.721 number of the total Indonesia SME's where all most the total came from all of SME industry. Those amount of SME's are the best opportunity for Warbis Prama to expand their business. Furthermore, Warbis Prama had a great partnership to serve and develop the SME as they are have been part of the ministry of cooperation before. They had so many experiences with Ministry of Cooperation. So Warbis prama top management level are eligible to run the business.  Furthermore, they had many projects with Ministry of SME. Those experience determine Warbis Prama core value. The final result shows Warbis Prama is eligible to be independent and give input to the Warbis Prama based on the research and business strategy method. Secondly, Warbis Prama can run the business through a business strategy that fit to them in the future. The third,  Explanation about Warbis Prama should do in the future with the proper implementation plan. So, Warbis Prama can develop their business and achieve sustainability advantage in the future
Consumer Behavior Research of Electronic Money Business in Indonesia and A Marketing Proposal (Subject: Flazz BCA) Oeshya Lubis, Rizki; Maya Damayanti, Sylviana
The Indonesian Journal of Business Administration Vol 5, No 1 (2016)
Publisher : The Indonesian Journal of Business Administration

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Abstract - PT XL Axiata Tbk. is a company that provide telecommunication services in Indonesia. Providing 2G and 3G services that majority Indonesian used. Having around 59,000,000 subscribers, XL become the second largest operator in Indonesia. XL focusing in college and schools subscribers, with XL low cost of services. In Indonesia, there is some phenomena that the most expensive cost is going with the most coverage area. The lowest cost always align with smallest coverage area. XL have different approach, XL have lower cost and wider coverage area. This is why subscribers of XL increasing in last 4 years. In 2014, XL increase their debt to ratio 2.1 to equity. This debt make financial ratio of PT XL Axiata Tbk worse. PT XL Axiata Tbk generate loss in the end of 2014. This situation happened because XL try to wider their coverage area, to gain mare subscribers. To wider the coverage area, XL need new technology and new BTS (Base Transceiver Station). In the end of 2014 XL have the second rank in the most BTS in Indonesia. No other company can do like what XL do. The goal of XL is “to be a leader in providing easy-to-use mobile internet experience at a lower price to Indonesians, with the XL brand having strong appeal to the Emerging Middle Class segment”. The debt is not only make a good impact for XL. In other hand there is negative impact. Financial ratio of XL also get worse and make it look bad in investors. XL shares price declining in September 2014 till New Year of 2015. PT XL Axiata Tbk need to improve their financial performance. Alternative to make a better performance, is with adapting 4G technology. It will cost more to XL to build and buying new technology, but it will worth the effort. With forecasting from 2015-2019 Indonesia market will not increase much in telecommunication, because right now from 3 major company in telecommunication, there recording around 250,000,000 SIM card that registered although population in Indonesia only have around 240,000,000 citizens. It means every Indonesians have 1 SIM card minimum. So to get new subscribers the only way is to offering new service that can attract customers to subscribe to XL. 4G will make the new experience to subscribers, and give better internet speed. With this alternative, calculated the cost and revenue of 4G technology with forecasting growth of subscribers and BTS, will give better financial performance and ratios. To apply this strategy, XL need some implementation plan. Some activity need to be done first such as debt extension, looking for new source of funding such as convertible bonds to increase revenue and make net profit. Significant revenue will make operating profit generate profit. Keywords: Financial Ratio, WACC, DuPont Analysis, Financial Leverage, Root Cause Analysis, XL, 2G, 3G, 4G, Base Transceiver Station, SIM card, Subscribers
The Effect of Capital Adequacy Ratio (CAR), Non Performing Financial (NPF), and Quick Ratio (QR) on Return on Asset (ROA) of BNI Syariah Ekananda, Ricko; R Jayaprawira, Acep
The Indonesian Journal of Business Administration Vol 6, No 1 (2017)
Publisher : The Indonesian Journal of Business Administration

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Abstract – Bank soundness should be maintained to deal with banking-related risks such as credit risk, liquidation risk, and interest risk. Credit risk is a risk that arises due to the customer’s inability to pay the debt and the interest within the adjusted time. Liquidation risk is a risk that a bank may face in providing credits and saving withdrawals of its customers at a particular time.  Risk of interest rate occurs when bank receives deposit with high interest rate for a longer period that the interest rate undergoes sudden and drastic fall. When a bank has relatively high funding, it will make it uncompetitive. Besides, the success of banking business is determined by its managerial performance in keeping its customers’ financial issues secret and keeping their money and assets safe.According to (Siamat, 2005:275), bank runs its business by collecting money from the society and distributing it in the forms of alternative investments. Because of this function, bank is also called the institution of trust. In reference to its business characteristic, bank is a business segment which activities are mostly regulated by the government. Bank stands as financial intermediary. It links parties who hold funds and those who need funding. It also facilitates payment traffic. Since bank runs its business on people’s trust, the level of bank soundness should be maintained (Merkusiwati, 2007). Banking plays an important role in accomplishing national goals that are related to the improvement and equal distribution of social life rate as well as in supporting the economy since it functions as an intermediary board, the administrator of payment transaction, and the transmitting means of monetary policy. According to Law of Republic of Indonesia Number 10 of 1998 concerning Banking, bank is regarded as a business institution that collects money from society in the forms of deposits and distributes the money to the society in the forms of loan and other products in order to improve the social life of rate. Bank’s financial report is composed as the manifestation of managerial liability towards the stakeholders within a particular period of time (Taswan, 2003:37). Bank’s performance can be measured by using many methods. The prominent method is by using financial ratio analysis; it is used for identifying any aspects that affect the financial position and development of the bank (Rohmawati, 2003:21). Assessment of banking financial performance has been adjusted by Bank Indonesia by issuing the Decree of Director of Bank Indonesia Number 30/11/KEP/DIR on 19th of March 1998 concerning the administration of Bank Soundness Assessment. Bank soundness assessment is managed y using one of financial performance indicators that is Return on Asset (ROA). ROA can be measured by comparing the profit prior to tax to the total assets. When ROA indicates that the financial performance is fine, the rate of return will be higher as well. In addition to that, bank soundness can be measured from the financial ratios of bank, such as Capital Adequacy Ratio (CAR), Non Performing Finance (NPF), and Quick Ratio (QR).
Business growth strategy at pt. Pamelindo sakti perkasa Darda Natanegara, Maula; Ghazali, Achmad
The Indonesian Journal of Business Administration Vol 7, No 3 (2018)
Publisher : The Indonesian Journal of Business Administration

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Abstract. PT. Pamelindo Sakti Perkasa is an established contractor of electrical, civil and printing since 2016. For two years, they built a network to other company or people and management system in company to run the business because they believe good networking and system are key factor to success. To support this research, extracting primary and secondary data has been carried out and then continued by analyzing the internal and external environment of PT. Pamelindo Sakti Perkasa. To discover the whole situation regarding the business issue and formulate the business  growth strategy by using growth strategy, tows matrix, and diamond strategy. The result of this research are that PT. Pamelindo Sakti Perkasa market has not reach target to gain more revenues although South Sumatera is a big market. PT. Pamelindo Sakti Perkasa is planning to get more revenues in South Sumatera market by forming an intensive communication with their existing customers and new potential customers, join e-procurement, and maintain their suppliers to get sustainable advantages. Furthermore, market development strategy is the most suitable strategy to South Sumatera market. Keywords:  South Sumatera, Contractor Company , Projects.
Proposed Future Business Strategy in Small Medium Enterprise: Case CV Waroenk Asia Solusindo Nurlia Roza, Innayah; Wandebori, Harimukti
The Indonesian Journal of Business Administration Vol 5, No 2 (2016)
Publisher : The Indonesian Journal of Business Administration

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Abstract— Laundry business in Indonesia has been growing so rapid since 2007. Laundry on kilo’s which has become the main business run by CV Waroenk Asia Solusindo has not attractive anymore. Competition, massive new entrants and increasing price of property rent has leave doubts to the company whether they have to stay in laundry on kilo’s or start other laundry segment. With IO model analysis, helped with external analysis through PESTEL and porter five forces, this thesis will help finding attractive segment industry. There are four final solutions suggested as the decision making result from this thesis. First, Waroenk Laundry brand position need brand rejuvenation through marketing strategy and customer relationship management. Dormitory laundry will focus on cooperation with third parties as dormitory management, and works on big quantity laundry project about 100-2000 customers in 1-5 years contract based. Laundry door to door will use sales delivery go around the housing area in specific time for order pickup. Meanwhile laundry exclusive is laundry per pieces services focus on quality, this segment industry is differs with laundry on kilos. Using internal analysis, it will be seen what resources needed by CV Waroenk Asia Solusindo to use the attractive segment industries. SWOT analysis done in this thesis will help to define what strategy needed by CV Waroenk Asia Solusindo in corporate and functional level. Business model canvass will show business process in new industry segment. This strategy is projected with financial projection analysis and economic value added to see strategy plan effectiveness. Keywords: Laundry, business strategy, attractive industry, porter five forces
Project evaluation of low-price housing development to support government program one milion house Kusuma, Bryan; Tjendrasa, Kin
The Indonesian Journal of Business Administration Vol 8, No 1 (2019)
Publisher : The Indonesian Journal of Business Administration

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Abstract – House backlog become government concern since 2010 until now, by creating program called one million houses program, giving opportunity for the citizen who really need the house but cannot afford it. Government program support all the party involved: banks, developers, contractors, and citizens. Problem that identify is on land price that increase nevery year making higher cost of development and time value of money that might have an impact on cash flow. Product positioning analysis using Porter’s five forces and strategy diamond and capital budgeting method using Net Present Value (NPV), Internal Rate of Return (IRR), Discounted Payback Period (PBP) and Weighted Average Cost of Capital (WACC) method. Using 3 scenario case of different period shows that the highest investment return compares to discount rate of 11.28%, gain from selling all units in 1 year that on best scenario, shows IRR of 30%, NPV of IDR 2,678 million and Discounted PBP of 14 months. The conclusion shows project is feasible with positive cash flow, land permit become simplify and fast progress to complete, and government program provide tax incentive of 1%. Recommendation on Infrastructure, facility, and utilities support development can improve with electronic system management. Alternative suggestion to decrease construction interest rate.  Keywords: backlog, capital budget, government program, return of investment Abstract[B1]  – House backlog become government concern since 2010 until now, by creating program called one million houses program, giving opportunity for the citizen who really need the house but cannot afford it. Government program support all the party involved: banks, developers, contractors, and citizens. Problem that identify is on land price that increase nevery year making higher cost of development and time value of money that might have an impact on cash flow. Product positioning analysis using Porter’s five forces and strategy diamond and capital budgeting method using Net Present Value (NPV), Internal Rate of Return (IRR), Discounted Payback Period (PBP) and Weighted Average Cost of Capital (WACC) method. Using 3 scenario case of different period shows that the highest investment return compares to discount rate of 11.28%, gain from selling all units in 1 year that on best scenario, shows IRR of 30%, NPV of IDR 2,678 million and Discounted PBP of 14 months. The conclusion shows project is feasible with positive cash flow, land permit become simplify and fast progress to complete, and government program provide tax incentive of 1%. Recommendation on Infrastructure, facility, and utilities support development can improve with electronic system management. Alternative suggestion to decrease construction interest rate.Keywords:backlog, capital budget, government program, return of investment [B1]Revised on Abstract following the change from Final Project
The strategy to monetize the waste from cattle livestock in pt. Agrikulture indonesia Ramadhani, Rezki; Dung Do, Anh
The Indonesian Journal of Business Administration Vol 7, No 2 (2018)
Publisher : The Indonesian Journal of Business Administration

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Abstract – PT. Agrikulture Indonesia is a cattle importer and feedlot that is located in Bogor, Indonesia. The company started the business in 2009 by importing cattle from Australia and recently, the feedlot has a capacity of seven thousand cattle. These cattle approximately yield seventy thousand kilograms manure every day and the company processes it into organic fertilizer. However, there is a difficulty in selling this big amount of fertilizer due to the lack of knowledge about the industry. This study attempts to answer three questions, i.e. the fertilizer industry analysis in Indonesia, the alternative solutions for the cattle manure problem in Agrikulture and the strategy for monetizing its waste. In order to answer these questions, the author firstly makes the business situation analysis using external and internal analysis. Secondly, the research methodology is the combination of questionnaire and interview with the related stakeholders in the agriculture industry. Thirdly, the strategy formulation is derived from the Diamond Strategy and TOWS Matrix. Lastly, the strategy formulation that consists of a new business model canvas and strategic control. (i) to continue on selling the fertilizer by improving the fertilizer business unit, and/or (ii) to create a crop farm project together with a strategic partner. The recommended strategy for monetizing the waste in Agrikulture is to create a crop farm project with a strategic partner. By benefiting its economies of scale, Agrikulture can offer low price product in bulk quantity. The company should prioritize the crops that can be benefiting its cattle feedmill and reduce its food cost in the future. The strategic partner is very important for Agrikulture to minimize the project cost and risk.   
The solo ngawi toll road investment evaluation and risk assessment Fachriansyah, M. Fadhil; Tjendrasa, Kin
The Indonesian Journal of Business Administration Vol 5, No 1 (2016)
Publisher : The Indonesian Journal of Business Administration

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Abstract - The toll road is required by government to support the economic growth. In the implementation, the toll road uses one of the strategies through the Build-Operate-Transfer (BOT) Public – Private-Partnership (PPP) scheme to attract the private sector. The financial feasibility in the toll road project mostly are influenced by traffic, tariff, and construction. Those three elements and the other factors affect the project financing outcome for the 35 years concession period. In this research, the financial feasibility will be analyzed based on the loan tenor for project fund (10 years and 15 years) and the construction schedule (2 years and 2.5 years). The analysis outcome of the third alternative of loan tenor 15 years and construction schedule 2 years is more attractive than other alternatives. The investment parameter express the positive NPV value for IDR 184,028 (in million) and the IRR value more than WACC value (19.20% > 17.58%). The other financial analysis also express that the third alternative has better output such as debt to equity ratio (DER) value is 1.33 which is lowest than others; and operating profit margin is 0.75, higher than the other alternatives.  Keywords: BOT-PPP scheme, investment evaluation, loan tenor, construction schedule, risk assessment.
Proposed business strategy for raga studio Krisnaldi Mahdi, Amanda; Kusumo Bintoro, Bambang Purwoko
The Indonesian Journal of Business Administration Vol 7, No 1 (2018)
Publisher : The Indonesian Journal of Business Administration

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Abstract – Humans can do their daily activities effectively and feel happier with a healthy body and mind. Health would be categorized as something that is expensive if humans do not have good health and often get sick. Therefore, more awareness is needed to maintain and improve the health of body. To keep body to stay healthy, humans are encouraged to live a healthy lifestyle. Furthermore, health and fitness centers market also grows nowadays. Realizing this opportunity, Raga Studio as a fitness group class provider, has a big opportunity to grab many members. However, Raga Studio is facing lack of business strategy, fierce competition, and human resources inefficiency. This fitness studio has to solve and overcome these problems in order to generate more revenue and face challenges in the future. In order to overcome the aforementioned problems, appropriate business strategies and recommended business model are formulated. Afterwards, the implementation plan that allows Raga Studio to obtain information regarding the suggested activities and monitor its performance is needed. The plan will be focused in improving the quality of the service offerings, maintaining relationship with customers and employees, and also expanding potential market and partnership. Keywords: business model canvas, business strategy, fitness industry, TOWS matrix

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