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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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Development Of National Payment Hateway (NPG) for Efficient Payment System In Indonesia Suprapto, .; Wicaksono, Agung
The Indonesian Journal of Business Administration Vol 4, No 9 (2015)
Publisher : The Indonesian Journal of Business Administration

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Abstract - Payment systems industry in Indonesia plays an important role in Indonesian economy. It regulates how to move funds from one place to another, whether for transfer, payment or purchase. Along with development of Indonesian economy and free trade in ASEAN, many parties are involved in the Indonesia payment systems industry, either domestic or international party. Each party has its own model, which leads to inefficiency and lack of integration of payment systems in Indonesia. Seeing this, Bank Indonesia as a regulator in the payment system in Indonesia deems it necessary to make the payment system infrastructure in Indonesia is more efficient and integrated also to perform control functions and provide convenience for the Indonesian people. This final project will focus on how Bank Indonesia strategy to make payment systems industry become more efficient as well as determines the alternative design and implement the National Payment Gateway (NPG) as a solution. Having regard to the condition of the industry as well as players who have been involved at this time. Based on the analysis, in order to implement the National Payment Gateway (NPG) is required an integration system with control of Bank Indonesia and supported by a special regulation for the policy so that the whole industry will support to participate operational activities. The implementation stages will takes an integrated roadmap to connect all payment system instruments such as debit, credit, cash and e-money for making synergize within National Payment Gateway (NPG) system. Keywords: Payment Systems, National Payment Gateway (NPG), Bank Indonesia Strategy, Efficient and Integration, Alternative design solutions.
Capital Budgeting Analysis, Sensitivity Analysis, and Monte Carlo Simulator for Mbah Jingkrak's New Outlet Maharani, Nadia Putri; Murtaqi, Isrochmani
The Indonesian Journal of Business Administration Vol 4, No 5 (2015)
Publisher : The Indonesian Journal of Business Administration

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Abstract.This research was conducted in order to assess the expansion plan of Mbah Jingkrak, a Javanese traditional restaurant located, that is going to build new outlet in Serpong, South Tangerang. The objective of this research is to make sure that the investment will give positive financial outcome to the company. In order to give clear projection of its financial performance, 3 steps of study are conducted, which are feasibility study for capital budgeting assessment, sensitivity analysis, and Monte Carlo Simulation. The results of feasibility study shows that the NPV of the project is positive, the internal rate of return exceed the project’s cost of capital, and there are no indications of negative cash flow, which show that the project of the expansion plan is financially feasible and viable. On the next step, which is sensitivity analysis, the project shows that the 4 most sensitive factors are: the cost of raw materials, the first year occupancy, spending per customer, and the growth of restaurant’s occupancy. These 4 most sensitive factors need to have higher attention from management since these factors have the lowest tolerance scale and need to be kept as close as possible to the assumptions in order to maintain positive financial outcome. Lastly, under Monte Carlo Simulation, the project shows a promising result, where the probability of expecting positive Net Present Value is above 85,90%, supported with only 3,80% probability of cash shortage. These indicators lead to a conclusion that the restaurant’s plan to open new outlet should be executed. Using these conclusions, Mbah Jingkrak can design implementation plan for its new outlet. The implementation of these results includes setting sales and cost target, complemented with menu combination and innovation to increase customer’s spending and restaurant’s occupancy.Keywords : Capital Budgeting, Feasibility Study, Sensitivity Analysis, Monte Carlo Simulation. 
Merger Review Process Finance PT Timah (Persero) Tbk and PT Tambang Timah Eliani, Fina; Wiryono, Sudarso Kaderi
The Indonesian Journal of Business Administration Vol 2, No 16 (2013)
Publisher : The Indonesian Journal of Business Administration

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Law no 4 in 2009 is about Mineral and Coal Mining 2009 and its implementation rules set mining companies do their own mining activities and conduct processing and refining facilities in the country and has its own processing or purification. PT. Timah (Persero) Tbk is having the biggest Tin Mining Permit in Indonesia but has no mining equipment, metal processing and refining facilities and other assets due to the mining operations supporting the asset has been transferred in the context of business expansion (spinn off) in 1998 as a capital contribution Subsidiary to the PT.Tambang Timah. After the enactment of the Mining Law, PT. Timah Tbk conduct mining activities that give rise to its own internal transactions between PT. Tambang Timah and PT. Timah Tbk ineffective and inefficient.In 2012 Minister of Energy and Mineral Resources (ESDM) published law No.7/2012 of Added Value Through Mineral Processing and Refining Mineral activities, in order to comply with the regulations PT. Timah Tbk purchase processing facilities and / purification along with other supporting assets are located in Unit Metallurgy. Therefore it will be proposed merger solution. Analysis shows that with merger in 2013 reachs efficiency Rp. 8.9 billion and increase in cash / cash equivalents of Rp 23, 7 billion. Expected merger synergies will also result in managerial, streamlining organizational structure and company’s support going concern. Through this merger would make PT. Timah Tbk as mining companies an efficient and integrated with core ownership of whole mining assets so it can achieve the conditions in accordance with the Mining Law and its implementation. Keywords: Mining Law, Merger (Merger), PT. Timah Tbk, PT. Tambang Timah
Effort to Increase Performance of Sub Directorate of State Revenue of Mineral and Coal in Optimizing Non Tax State Revenue General Mining Hasibuan, Mikko Rawindra; Djajadiningrat, Surna Tjahja
The Indonesian Journal of Business Administration Vol 1, No 1 (2012)
Publisher : The Indonesian Journal of Business Administration

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Non Tax State Revenue of Natural Resources of General Mining which managed by Sub Directorate of State Revenues of Mineral and Coal consist of Dues Remain and Royalty paid by Mining License Holder, consist of Contract of Work, Coal Mining Agreement and Mining Authority or Mining License. In managing Non Tax State Revenues divided two section with planning task, evaluation, verification and stipulation of result of Non Tax State Revenues task, with administration task as supporting. The bigger workload are evaluate and verify the Dues Remain and Royalty document. In line with demand increase of mining commodities the number of Business Permit of Mining especially Mining Authority (KP) and Mining License (IUP) had increased significantly, so workload of evaluating and verifying Dues Remain and Royalty also had increased. To know the needs of the number of employees first calculate the number of workload, or the number of Dues Remain and Royalty documents that will be sent by all Mining Authorities with quantitative method of regression analysis is supported by a survey to know employee productivity. Regression analysis showed that if the number of KP / IUP reaches 6951, the number of Dues Remain documents will reach 10535 and the sales transaction document (Royalties) 19539 units. Based on employee productivity in order to that the large number of documents of Dues Remain and Royalty of the Mining Authority or Mining License can be handled properly it is necessary addition 7 employees, for verification to the field required 14 employees and for the reconciliation in the framework production planning and the stipulation of Non Tax State Revenues required seven employees. Effectiveness of organization of Sub Directorate of State Revenues of Mineral and Coal, learned of whether the appear workload could be handled as well as whether every structure have done tasks in a focused and not mixed with other tasks. Based on that thing, in order to there is a separation of task well it is necessary addition become 4 organizational structure as level as section, that are the structure determination of the planning and realization of Non Tax State Revenues, the two structures recording, evaluation and verification of Non Tax State Revenues, as well as a structure administration. Keywords: job analysis, workload analysis, organizational structure, human resource planning, recruitment
Expansion Strategy of PT Telekomunikasi Indonesia Tbk Through ITS Subsidiary Company (case study: Acquisition of Tiphone by Pins) Khairunisa, Lintang; Koesrindartoto, Deddy P
The Indonesian Journal of Business Administration Vol 4, No 2 (2015)
Publisher : The Indonesian Journal of Business Administration

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Abstract.The transformation of ICT industry was performed in order to avoid the decreasing company’s profit due to dissatisfaction of costumer. For instance, PT Telekomunikasi Indonesia (Telkom) has changed the business model from infocom (information and communication) became TIMES (Telecommunication, Information, Media, Edutainment and Services). One of the strategies of diversification is performed acquisition with company who has positive synergy and in October 2014, Telkom officially acquire Tiphone through its subsidiary which is PINS for 25%. The analysis shown that the Telecommunication Industry in Indonesia have been entered the phase of mature business. To keep sustain in this condition, Telkom has a plan to create an ICT ecosystem in its group. Therefore, Telkom want to acquire Tiphone in order to develop its business in device sector. Telkom estimate that Tiphone is a compromise company to be acquired since Tiphone has increasing gross profit margin, EBIT margin and Net Income margin every year and has CAGR as much as 19%, besides Tiphone also produce the low price cellular phone.Valuation of Discounted Cash Flow shows that the acquisition price of Tiphone is 1.52 trillion but PT PINS which is Telkom’s subsidiary company, acquire Tiphone only for 1.39 trillion which is undervalued. Moreover, Telkom and Tiphone have a positive synergy, reflected by the performance between 2 companies in cooperating of the migration process of flexi users into Telkomsel users. In this Final project, proposed that Tiphone should focus in produce Smartphone than feature phone. Thus, Tiphone can provide the Smartphone for flexi user in migration process. .Keywords: Expansion, Acquisition, Device, Discounted Cash Flow Analysis
Company Valuation Analysis on PT Dayamitra Telekomunikasi in Preparation of Intial Public Offering (IPO) Wahyudi, Andi; Surya, Budi Arta
The Indonesian Journal of Business Administration Vol 2, No 4 (2013)
Publisher : The Indonesian Journal of Business Administration

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PT Dayamitra Telekomunikasi, known as Mitratel, a subsidiary of PT Telekomunikasi Indonesia Tbk, is a one of the leading company in tower leasing industry. In 2012 General Meeting of Shareholders, the shareholders asked Mitratel to explore the possibility of an IPO (Initial Public Offering). The objective of the shareholders is to unlock Mitratel value and to finance Mitratel capex while maintaining the Debt Equity Ratio (DER) below 4.0x. Mitratel must assess the value of the company and also asses the IPO plan itself. Undertaking an IPO is a business decision that must be based on consideration of a number of factors. The methods used in this final project to determine the value of Mitratel are Discounted Cash Flow (DCF) Valuation and Relative Valuation. DCF method used is two-stage Free Cash Flow to Equity (FCFE) Discount Model. Relative valuation methods used are Price to Earning Ratio (P/E) and Price to Book Value (PBV) multiples. The results from the two methods are combined to come up with the realistic and attractive price of equity per shares. This final project will also analyze the IPO decision based on strategic, financial, and valuation factors, whether the IPO will satisfy the objective of the shareholders. From the analysis, Mitratel is already eligible to list its shares in the main board of Indonesia Stock Exchange, with the recommended price for Mitratel equity is between Rp. 15.000,- to Rp. 20.000,- per share. However from the strategic, financial, and valuation analysis, in order to get better value, Mitratel is recommended to hold the IPO plan. Keywords: Two-stage Free Cash Flow to Equity Discount Model, Relative Valuation
Crafting Strategy to Improve XYZ Rice Milling Business Competitiveness Herasmara, Ridho; Hamsal, Mohammad
The Indonesian Journal of Business Administration Vol 2, No 13 (2013)
Publisher : The Indonesian Journal of Business Administration

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East Java rice milling business has been affected by a series of political policy regarding the industry, and increasing raw material purchase competition. This article is concerned about current competitive condition facing XYZ; it is experiencing problem of declining profitability even though the market is in uptrend. This decline is represented by problems in material purchase, production efficiency, and low selling price. The study and is aimed towards improving XYZ competitiveness and profitability. The literature review provided some generic framework in analyzing business condition and developing strategy (Wheelen & Hunger, 2012). Research is conducted by interviewing, observation of XYZ owner, and through secondary data gathering. Result of the research is analyzed to determine elements of business environment affecting XYZ. External analysis of the company point out strategic factors potentially important to the company such as market requirement of premium rice, differing price between east and west jave, as well as notable price discrepancy between area in East Java. Internal analysis of XYZ point out important strategic factors that affect XYZ in terms of its competitiveness, such as the relatively outdated production method and low direct sales effort of XYZ. From SWOT analysis of these factors, it is concluded that problem affecting XYZ competitiveness is requirement for reformulating business strategy. Based on it, a strategy is formulated for XYZ to improve competitiveness by upgrading production machinery, improve material purchase, and increase direct sales. It is concluded that the main problem of XYZ is low efficiency, and it is recommended that XYZ implement the solution to improve its competitive readiness and to prepare for future challenge. Keywords: business strategy, rice milling business, business model, TOWS matrix
Proposed Design of Competency Based Career Path Development for Machining Job Group in PT Dirgantara Indonesia Inayah, Inayah; Gustomo, Aurik
The Indonesian Journal of Business Administration Vol 3, No 10 (2014)
Publisher : The Indonesian Journal of Business Administration

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Abstract. PT. Dirgantara Indonesia is a State Owned Enterprise (SOE) that was founded in 1976, has its headquarters in Bandung and provides products and services in its business lines. PT Dirgantara Indonesia has a vision to be a world-class aerospace company based on the mastery of high technology and cost competitiveness in the global market. In mid-2010, PT. Dirgantara Indonesia was trying to show the new expectations and potential growth to become a better company. PT Dirgantara Indonesia is planning new strategy related to human resources, it is trying to restructure and stabilize the regeneration of human resources. It needs to be done because lack of motivation and a lot of employees left the company led to stagnant labor productivity. This is being happened because the company has not developed structured career planning for its employees and implementation of human resources management practice also has not well integrated. The development of competency-based career paths is one of solution to resolve the issue. Career paths are designed based on competency model that defined from the values and objectives of the company's business and also based Job Family. The research methodology used in this study is a mixed method, using both qualitative, used for collecting data from in depth interviews and reading literatures, and quantitative that used as a measurement tools to define business solution by SPSS. Development of career paths in this research using hierarchical cluster analysis for the 45 job title on machining job group by Directorate of Production based on 6 core competencies, 10 functional competencies and  2 technical competencies and career path that will be developed in this research is single career path. Based on this research resulted job competency for 45 job title and grouped into three cluster on Job Family, and each job title consist of different job class. Based on three clusters will develop one cluster as whole after several stages of clustering analysis. Career path development can be implemented as part of a career management system for PT Dirgantara Indonesia’s future, so it expected to increase productivity of employee performance and succession of career planning also can be structuredKeywords: Competency, Career Path
Strategic Business Analysis on Investment Method of Coal Transshipment(Case Study of PT. KPC) Mantiri, Simon Aloysius; Siahaan, Uke MMP.
The Indonesian Journal of Business Administration Vol 2, No 10 (2013)
Publisher : The Indonesian Journal of Business Administration

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The economic slowdown in 2012 has exerted a significant impact on the coal industry. The fluctuation of demand for thermal coal, particularly from a large and growing market, forces producers to revise production plans set long before. Imposing a cost-saving mode throughout its operations, KPC can still maintain its sales volume for customers, while pursuing its strategy to increase coal production. According to Gede Ngurah Ambara, Manager of Business Performance Improvement at KPC, presenting at the 11th Annual Coal Market Conference 2013, KPC plans to produce a total of 66,66 Mt coal this year, still on track towards a 70 Mt production target in 2014. However, the capacity limitation of its coal loading facilities has impelled KPC to upgrade existing infrastructure. With total throughput of 42.5 Mt in 2012, there is a gap of around 27.5 Mt to be considered in 2014. While the main loading facility, Tanjung Bara Coal Terminal (TBCT), is being upgraded, transshipment could be the optimal alternative solution to ensure continuity of the coal supply chain.Playing an important role as an alternative to and complement of the TBCT operation, there must be intelligent selection of transshipment facilities. Thus, this project aims to decide on a suitable transshipment option to fill the gap in coal production. Options include an additional Floating Crane (FC), Floating Transfer Station (FTS) or Floating Coal Storage (FCS). The main factor governing the selection is maintaining a reliable coal supply to oceangoing vessels, avoiding bottlenecks, along with continued efforts to reduce demurrage.In the comparison of the methods, both a quantitative and qualitative assessment will be applied. The quantitative assessment used is an investment analysis of NPV, IRR, with WACC derived from Bumi Resources’ financial statement of 2012, while for the qualitative one, a concept from LD Ports & Logistics, elaborating a Transshipment Solution Decision Model,will cover operational, environmental and other important factors impacting coal loading operations, as applied to KPC. With the assumption of 15 Mt of additional production to be handled by transshipment operations (while the remaining gap will be handled by developed TBCT), it is clear that in the KPC context, Floating Coal Storage is the optimal choice, compared to other options, as buffer storage of around 60,000 t will ensure the reliability of transshipment to oceangoing vessels, and will shorten turnaround and laycan time, thus minimizing any demurrage penalties. Comparing the calculation of lease vs. purchase options for Floating Coal Storage (FCS), along with the consideration of points from the KPC Transshipment Solution Decision Model, it is clear that leasing the facility is a wiser option for the remainder of the CCoW (Coal Contract of Work) period,terminating in 2021.As an additional aspect of this research, Porter’s 5 Forces and a SWOT analysis of the company are to be conducted, with the intention of providing a broader perspective onboth the coal industry and company performance, which will assist in determining whether this project is feasible for implementation.  Keywords : transshipment, reliability, bottleneck, demurrage, throughput
Proposed Growth Strategy For Dian Institutepare Maulana, Danis; Toha, Mohammad
The Indonesian Journal of Business Administration Vol 3, No 7 (2014)
Publisher : The Indonesian Journal of Business Administration

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Abstract- The growth of formal education and non-formal education is very promising in Pare, the number of competitor in education institution is also increasing. The competition is getting tougher, requires every education learning doing innovation, development and improvement in their course program to get new target market. In order to overcome the competition, Dian Institute should know what positioning strategy could be used for prospective students especially for new target market The strategy formulation begins with analyzing external and internal environment to identify opportunities and threats of the industry as well as the strengths and weaknesses of the company using several methods such as Political, Legal, Socio-Cultural and Technology (PEST) Analysis, Porter’s Five Forces Analysis, Competitor Analysis, Current Business Model Analysis, and Value Chain Analysis. The SWOT derived from the external and internal analysis is then used to generate IFAS and EFAS score, and interpreted to the Grand Strategy Selection Matrix and Four basic strategic, determining the current position of the Dian Institute and the strategy it should execute. The result of the analysis indicates Dian Institute in quadrant 1 of grand strategy. Quadrant I of the Grand Strategy Matrix are in an excellent strategic position. For Dian Institute, continued concentration on current markets (market penetration and market development) and products (product development) are appropriate strategies.so that after succeeding in growth strategy, author make new business model canvas for Dian Institute for make this business better .All things considered, to analyze the current business situations and internal conditions of Dian Institute as the basis of strategies formulation. And to develop growth strategies that can be implemented by Dian Institute to get new target market and the last one to design the implementation plans of the growth strategy that can be conducted by Dian Institute which is adjusted with institution competition in pare market.  Keywords: growth strategy, Business model, service industry, Strategic positing

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