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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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VALUATION OF PT PEGADAIAN FOR PROPOSED IPO PRICE
The Indonesian Journal of Business Administration Vol 10, No 1 (2021)
Publisher : The Indonesian Journal of Business Administration

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Abstract

PT Pegadaian desire to be the most valuable financial company in Indonesia and as the public's first choice financial inclusion agent. PT Pegadaian planned to do an initial public offering (IPO) to achieve that. This study aimed to analyze and estimate the intrinsic value of Pegadaian and provide recommendations for investors. The valuation of the intrinsic value will use the absolute and relative valuation model. The absolute valuation model used is the free cash flow to equity (FCFE) model and the excess return model. The relative valuation used that are price to earnings ratio and price to book value ratio. The intrinsic value using the free cash flow of the equity model estimated is IDR 2.383,73/share. The intrinsic value using the excess return model estimated is IDR 2.571,41/share. The valuation using the price to earnings ratio has resulted is IDR 981,35/share. Then, the result of intrinsic value using the price to book value ratio is IDR 1.206,39/share. The valuation summary used the weighted average of intrinsic value from four model that is IDR 2.357,97/share.Keywords: initial public offering, intrinsic value, free cash flow to equity model, excess return model, price to earnings ratio, price to book value ratio.
PROPOSED MULTI MANNED ASSEMBLY LINE BALANCING AS PRODUCTION SYSTEM IN AIRCRAFT INDUSTRY
The Indonesian Journal of Business Administration Vol 8, No 3 (2019)
Publisher : The Indonesian Journal of Business Administration

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Abstract

PT Dirgantara Indonesia use project layouts in their production systems. With projects layout the risk of late delivery are quite high. The average production duration with a project layout is 10 months with a standard deviation of 4.22 months and coefficient of variance 43.95% which show unstable production duration.The application of MMALB can be a solution to this problem. Assembly line balancing (ALB) is a tool in operation that is used to divide production activities into workstations. In a single ALB, there is one worker in a work station whereas in Multi Manned Assembly Line Balancing (MMALB), there are more than one worker in a workstation. The whole process of assigning production activities into workstations use heuristic algorithmAs a result, there are eight workstations required, with eachwork station filled with production activities which each production activity has been registered in the team. The average production duration with MMALB is 250 hours/ 2 months with standard deviation 13.18 hours,  and coefficient of variance 5.23%. Efficiency level of MMALB configuration is 81%. It can be concluded that MMALB provides faster production takt time with more stable production duration compare to project layout.Keywords:  Assembly line balancing, Multi Manned Assembly Line Balancing, Cycle Time, Efficiency, Standard Deviation
ANALYSIS OF ORGANIZATIONAL CULTURE CASE STUDY: SHARED SERVICE CENTER UNIT PELINDO III
The Indonesian Journal of Business Administration Vol 8, No 3 (2019)
Publisher : The Indonesian Journal of Business Administration

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Abstract

The purpose of this study is to analyze the current organizational culture in the SSC unit and provide cultural recommendations as expected by employees in the next 2 years. Data collection is done using a questionnaire Organizational Culture Assessment Instrument (OCAI) that is distributed to all employees and leaders in the SSC unit. The purpose of the OCAI is to assess six key organizational cultures from the concept of Competing Value Framework (CVF). The results of the assessment indicate that the overall dimension in the SSC unit is currently dominated by clan culture, as well as the overall dimensions expected in the SSC unit are still dominated by clan culture that emphasizes family atmosphere and participation. From the culture of the adhocracy there was a considerable gap from the current and expected culture. This means that respondents expect organizations in the future to be more innovative and enthusiastic in facing new challenges. For the hierarchy culture and the expected market tends to decline than at present. The final results of the overall cultural analysis show that there is no significant gap in the current and expected organizational culture, which is still dominated by clan culture. This means that overall the SSC unit is more internal focus than external focus.Based on these results, plans for improvements that can be made at the SSC unit include minimizing miss communication with routine morning briefings, increasing competence with training related to work and supporters, and workshops to the region for external improvement.Keywords:  adhocracy, clan, CVF, hierarchy,  market, OCAI, SSC
Business Process Redesign and Automation for Apotek Semoga Jaya
The Indonesian Journal of Business Administration Vol 11, No 1 (2022)
Publisher : The Indonesian Journal of Business Administration

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Abstract

Abstract, Information system implementation gives advantages to business activities in a company. SMEs to large scale businesses are competing to implement an information system in their business. Information system implementation in a business can increase the benefit from data management and information flow in their operational activities. Apotek Semoga Jaya or known as ASJ is one of the pharmacies in Padang City which still implement a manual approach for their activities. This condition makes ASJ get a problem with warehouse management. Undetected medicine stock-out makes ASJ have potential lost sales by more than one billion rupiahs in a year. Root cause analysis is implemented to get the initial cause of the ASJ’s problem. From the root cause analysis, there is no specific regulation to prevent unrecorded transactions in ASJ. Implementation of an information system comes as the solution for the ASJ’s problem. Implementation of an information system needs to consider the people, process, and technology (PPT) aspects in ASJ. The business process redesign heuristic is implemented to improve the business process on ASJ which involves PPT aspects. The implementation of the solution will be using the PDCA cycle to monitor the effectiveness of the solutions in ASJ.Keywords: Information systems, root cause analysis, business process redesign heuristic, PPT aspect, PDCA cycle.
Designing Standard Operating Procedure in Beauty Salon Using Knowledge Conversion Model (Case Study: Bunda Umar Muslimah Salon)
The Indonesian Journal of Business Administration Vol 10, No 1 (2021)
Publisher : The Indonesian Journal of Business Administration

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Abstract

Caring for self-beauty in a salon has become necessary for most women. One of factor determines in choosing a beauty salon is the service quality. Bunda Umar Salon is a Muslim woman-only beauty salon that always committed to provide quality service. However, some customers still complain about the disappointing service. The absence of written SOPs has resulted in the Bunda Umar Salon being unable to meet acceptable service standards. This study aims to design SOPs of Bunda Umar Salon and its implementation plan.The research uses observations and literature reviews to determine the most appropriate method in designing Bunda Umar Salon's SOPs. The SOPs design begins with determining the service critical points. A knowledge conversion process then be carried out based on Nonaka's SECI (Socialization, Externalization, Combination, and Internalization) Model to convert tacit knowledge into explicit knowledge. The acquired knowledge is then compiled into a written SOP format and then got tested. The SOP implementation plan is made with a strategy to address employee resistance to change, which found during the trial. The SOPs make it easier for employees to understand the work flow and increase their discipline. Employees who perform according to the SOPs provide satisfying service for customers. Keywords: beauty salon service, employee resistance to change, knowledge conversion, NONAKA’s SECI model, standard operating procedure (SOP).
DIGITAL MARKETING STRATEGY FOR CLOTHING BRAND “KOMO”
The Indonesian Journal of Business Administration Vol 8, No 3 (2019)
Publisher : The Indonesian Journal of Business Administration

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Abstract

At this time the creative economy in Indonesia will become an economic sector that is no less important than agriculture, industry and information. Especially in the creative fashion industry that is developing in Indonesia, which is supported by the rapid development of internet technology. So that the market place and online platforms that change shopping habits to shop online. KOMO is one of the fashion brands, needs a plan for effective digital marketing so that it is not left behind by other competitors. The main objective of this research is to find out the source of the problems that occur in KOMO so that they can formulate the best digital marketing strategy and can increase sales. This study uses internal and external analysis, for internal analysis using the STP analysis method and marketing mix while external analysis uses market analysis methods, competitor analysis, and customer analysis. From the results of this analysis it can be seen through fishbone diagrams there are 4 factors that affect KOMO's sales level, namely place, product, promotion, and human resource. From these results, the researcher formulated a solution to implemented by KOMO in the form of a digital marketing strategy.Keywords: KOMO, Digital marketing, Creative Economy, Fashion Industry, Market Place, Online Platform
The Impact of Job Satisfaction and Motivation on Work Performance of Lecturers at TEDC Polytechnic Bandung
The Indonesian Journal of Business Administration Vol 10, No 1 (2021)
Publisher : The Indonesian Journal of Business Administration

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Abstract

This study entitled The Impact of Job Satisfaction and Motivation on Work Performance of Lecturer at TEDC Polytechnic Bandung. The purpose of the research conducted by the author is to get the results of a study on job satisfaction, get the results of a study on motivation, and get the results of a study on the performance of the lecturers of TEDC Polytechnic Bandung. This study used a descriptive method using the Slovin formula to get the sample. Data processing was performed by multiple regression analysis and hypothesis testing. Based on the research results, it can be concluded that there is a significant effect of job satisfaction on performance. There is a significant effect of motivation on performance. There is a significant effect simultaneously of job satisfaction and motivation on TEDC Bandung Polytechnic lecturers' performance.Keywords: Job Satisfaction, Motivation, Performance
Evaluation of Right Issue and Optimal Capital Structure (Case Study: PT Lippo Karawaci Tbk)
The Indonesian Journal of Business Administration Vol 9, No 3 (2020)
Publisher : The Indonesian Journal of Business Administration

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Abstract

PT Lippo Karawaci Tbk which was established in 1990, is one of the largest real estate company in Indonesia with diversified business sectors. Having a long history and data, it is easy for PT Lippo Karawaci to calculates the optimal capital structure that fits the current business situation. In July 2019, PT Lippo Karawaci completed its right issue as a financing decision to decrease its debt ratio and to fund the company’s future expansion. This research evaluates that decision and compares it to the optimal capital structure. The cost of capital approach was used to calculate the rates in various levels of debt. The research shows that the right issue has a positive impact on decreasing the prior market value debt to equity ratio which was 233%, however, the company has not reached the suggested optimal capital structure at the 10% level. The recommendation for such problem is to decrease the current debt level or to improve the stock price performance that undervalued at 0.49x price per book value. Keywords: Optimal capital structure, cost of capital approach, right issue, debt restructuring
Key Factors Influencing Adoption of Technology Innovation among Cooperatives in Bandung: A Case of Nectico
The Indonesian Journal of Business Administration Vol 9, No 1 (2020)
Publisher : The Indonesian Journal of Business Administration

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Abstract

In this era, free market competition has raised many challenges that must be faced by economic actors including cooperatives which its development is still small compared to other business entity which have big scale business. Therefore, to face this challenge and survive in the free-market competition era, innovation in cooperative is needed to increase their efficiency and performance. For Nectico, as startup that provides innovative technology which is platform for cooperative to connect them to digital ecosystem, Nectico need to identify and understand key factors that shape the behavioral intention of their customers is needed to formulate strategy that will drive the adoption of technology innovation.Because of that, the objective of this paper is to acquire underlying knowledge of how IT is adopted in cooperative and what factors influence organizational decisions on IT innovation adoption. Besides, this study also has another objective, which is to explore business based on those factors that Nectico could implement to drive more adoption of its innovative technology and propose an implementation plan that is relevant to the business solutions for Nectico.This study is using qualitative data collection through in-depth-interview with key customers and the result of in-depth interview then being verified through a simplified quantitative data collection from cooperatives in Bandung. The result from quantitative data collection is then analyzed from managerial implications point of view which will be used to develop potential business solution and develop implementation plan. This study also suggests the recommendation for further studies.As the result, this study proposed an extended UTAUT for B2B context to illustrate primary adoption of technology innovation. This study also concluded 4 key factors influencing primary adoption of technology innovation among cooperatives in Bandung together with 5 business solutions.Keywords: Innovation; Technology; Adoption; Cooperatives; Organization
TRANSPORTATION STRATEGY DEVELOPMENT FOR OPTIMUM COAL MINING: A CASE STUDY OF BLOK-D MINING PROJECT PT. XYZ
The Indonesian Journal of Business Administration Vol 10, No 1 (2021)
Publisher : The Indonesian Journal of Business Administration

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Abstract

Blok-D included in PT.XYZ concession is blessed with large coal resources and has the potential to be the main pillars of the company's future sustainability. The low calorific value of the coal resources and their locations are believed to erode the value of the mining project. Evaluate whether mining Blok-D is a relevant strategy for the Company, and then the development of the transportation strategy is a must before the mining project started. Selected transportation strategy is according to those who can provide a return on investment at equal or higher than the shareholder expectation.The increase in demand for coal by India and other countries in Asia was one of the reasons why the coal industry still had a strong appeal. Supported by its several competitive advantages, PT.XYZ has the advantage to grow the business by doing Blok-D mining. Assessment of the financial aspect is a must since it becomes the major challenge for transportation strategy development.Cost leadership is a suitable competitive strategy for the Company according to the analysis of the Company’s capabilities and competitive advantages. SWOT and TOWS approach shows that mining Blok-D is an inline strategy with the company’s corporate strategy. There are 6 (sixth) alternatives solutions for the transportation strategy, which are distinguished by the location of the barge loading facilities and the land coal transport method. The DCF financial model indicates that Alternative B1.2 provides the highest project value. The sensitivity analysis shows that the coal price followed by the OPEX becomes the most sensitive input variable for the project value. Monte Carlo analysis results show that Alternative B1.2 is viable to be executed since it gives an expected NPV of 333.47 million USD and an IRR of 65.4% which is higher than 11.96% as the required rate of return (WACC). Based on the analysis result, PT.XYZ is recommended to do the Blok-D mining projects with Alternative B1.2 as the transportation strategy.Keywords: Transportation strategy, business strategy, coal mining, investment analysis, DCF model, Monte Carlo analysis.

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