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IJFBP International Journal of Family Business Practices
Published by President University
ISSN : 26217325     EISSN : 26217333     DOI : -
Core Subject : Economy,
Economics, Econometrics & Finance
The International Journal of Family Business Practices (IJFBP) is open access and biannual double-blind peer-reviewed journal. Numerous family enterprises are based around the legend of an entrepreneurial founder who has stood firm in the face of difficulties. The IJFBP widens the scope to look beyond this interrelationship by exploring the creation of family business, which includes the entrepreneurial tenets, mindset, and processes of the family business and its transgenerational sustainability. The scope of the journal covers various sectors including (but is not limited to), retail, tourism, wealth planning, digital business, among others. All the articles published in English. Submissions are open year-round. Before submitting, please ensure that the manuscript is written in English to comply with the focus and scope of IJFBP and follows the guidelines and templates of authors.
Arjuna Subject : Bisnis, Menejemen, dan Akutansi (semua kategori) - Bisnis, Menejemen, dan Akutansi (Lain-Lain)
Articles 52 Documents
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Book Review: Family Wars: Stories and Insights from Famous Family Business Feuds Harris Turino; Adhi Setyo Santoso
International Journal of Family Business Practices Vol 3, No 1 (2020)
Publisher : Faculty of Business, President University

Show Abstract | Download Original | Original Source | Check in Google Scholar | Full PDF (40.085 KB) | DOI: 10.33021/ijfbp.v3i1.1169

Abstract

Grant Gordon and Nigel Nicholson in their book with the title “Family Wars: Stories and Insights from Famous Family Business Feuds” (2010) argue that in the business world, family firms are common things. Many interesting things can be learned from them. Some people say that the family business is an inimitable advantage, but there are many conflicts in it, and some of them result in business failure. In this book, the author describes the various forms of conflict and its causes, proposing how a family should deal with conflict is and how to adapt to change. This book is the result of the author's research on conflict cases in family companies and is supported by theories taken from references.In this section, we provide the critical review as our response.
SOTO KWALI SOLO MBOK DARMI'S FAMILY BUSINESS STRATEGY IN INCREASING SALES IN SEMER 50, KEROBOKAN, KUTA, BADUNG REGENCY, BALI I Wayan Ruspendi Junaedi
International Journal of Family Business Practices Vol 3, No 2 (2020)
Publisher : Faculty of Business, President University

Show Abstract | Download Original | Original Source | Check in Google Scholar | Full PDF (34.469 KB) | DOI: 10.33021/ijfbp.v3i2.1334

Abstract

Soto Kwali Solo Mbok Darmi is a family business located on Jl. Semer No 50 Kerobokan Village, Kuta District, Bali Province, established in 2016. The research problem is “What is the strategy used by the management of Soto Kwali Solo Mbok Darmi in increasing its sales?” The purpose of this research is to determine the strategies used by the management of Soto Kwali Solo Mbok Darmi in increasing sales. The research method used is a qualitative research method, by conducting observations, interviews with owners and managers of Soto Kwali Solo Mbok Darmi, and documentation. The findings and analysis are that in the process of making and presenting Soto Kwali Solo Mbok Darmi, they were very concerned with cleanliness, employee hospitality, food delicacy, and ethics and consumer culture so that they have many consumers. Initially they only use conventional marketing strategies. However, eventually it changed, and the strategy used in increasing their sales was to provide training to all employees in management and marketing management and the use of technology related to GoFood and Grab. This business is sufficiently developed to its maximum potential so that its sales turnover is quite interesting. In the end, they were able to increase sales of the business. The marketing strategy is getting better because it uses a marketing strategy using Social Media through Facebook, Instagram, and WhatsApp, as well as GoFood and GrabFood. The family business of Soto Kwali Solo Mbok Darmi can develop, sales turnover is increasing, and provides inspiration to the community to become entrepreneurs so as to improve the welfare of the business.Keywords: Menu, Strategy, Soto Kwali Solo Mbok Darmi Family Business, Marketing and Sales.
LEARNING ORGANIZATION 2.0: AN EMPIRICAL STUDY OF CONTEXTUAL ADAPTATION IN PT MMI PURWAKARTA Imam Nurhidayat; Maria Jacinta Arquisola
International Journal of Family Business Practices Vol 5, No 1 (2022)
Publisher : Faculty of Business, President University

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.33021/ijfbp.v5i1.3660

Abstract

Business rapid development with technology advancement urges enterprises to create a sustainable competitive advantage. Being a Learning Organization (LO) becomes favorable, yet cultural backgrounds and the need to adapt with open innovation urge an adapted LO 2.0. This paper aims to study the application in Indonesia’s industrial context, the underlying factors, and obstacles in a manufacturing plant at PT MMI. The preliminary study interview involved four strategic managers, followed by an empirical study surveying the 130 employees using the adapted Learning Organization Questionnaire (LOQ). The analysis used descriptive statistics and a Confirmatory Factor Analysis (CFA). Its findings suggest that PT MMI successfully enhances the practice of LO 2.0 on its contextualized adapted approach such as an innovative environment, effective information sharing, enhancing employee empowerment, supporting employees’ self-development/ mastery, and becoming a facilitative leader with a multi-stakeholder approach. Nevertheless, some factors with marginal mean scores on each dimension risk destabilizing the long-term learning practice in PT MMI, which the leaders should consider improving and strengthening.
Strategic Orientation of Homestay in Lima Puluh Kota Regency: Market and Technology Perspective Afifah Afifah; Ranti Komala Dewi; Willson Gustiawan
International Journal of Family Business Practices Vol 5, No 1 (2022)
Publisher : Faculty of Business, President University

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.33021/ijfbp.v5i1.3460

Abstract

There are numerous small-scale homestay businesses in the Lima Puluh Kota Regency along with the development of tourist destinations in this region. Several studies have found that small-scale businesses could grow in terms of competition and performance if they have market and technology orientation. This article aims to investigate whether the homestay business in Lima Puluh Kota Regency is market and technology-oriented. This study utilized descriptive analysis research design. The investigation was conducted using questionnaire and interviews on consumer orientation, competitor orientation, technology policy, and position and adoption, which were randomly distributed to 55 homestay business owners as the sample. The questionnaires adopted the scales of Harerro (2018) and Al Ansari et al. (2013), with sound psycometric characteristics. SPSS v26 was used to process the data.  This study found that the owners or managers of the homestay in Lima Puluh Kota Regency have been pretty good market-oriented, and nevertheless in few numbers, among them have a technology orientation. These findings are believed contribute to tourism and family business literature especially in homestay business.
THE ROLE OF CREDIT UNION BETANG ASI FOR FAMILY BUSINESSES IN PALANGKARAYA, CENTRAL KALIMANTAN I Wayan Ruspendi Junaedi; I Wayan Damayana; Dermawan Waruwu; Suresh Kumar
International Journal of Family Business Practices Vol 5, No 1 (2022)
Publisher : Faculty of Business, President University

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.33021/ijfbp.v5i1.1408

Abstract

This study aims at finding the role of Credit Union (CU) Betang Asi, a financial institution under the OJK, in developing the family businesses in Palangkaraya, Central Kalimantan. The study method used was a qualitative study method, by conducting observations, interviews with owners and managers of family businesses, and documentation. The findings are that CU has contributed a lot to the welfare of family businesses in Palangkara, Central Kalimantan. The family businesses have developed to the maximum so that the sales turnover is quite attractive. Further, CU considers the Character, Capacity, Capital, Condition, and Collateral characteristics as the most important aspect of lending money to family businesses. They also provide training and assistance to be able to improve the business of management and marketing management and the use of technology. Hence, they can increase sales of the business and inspire the community to become entrepreneurs to improve the welfare of the business.
Narcissism as a Mediator of the Relationship between Entrepreneurial Orientation and Firm Performance Siwar Youssef
International Journal of Family Business Practices Vol 5, No 1 (2022)
Publisher : Faculty of Business, President University

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.33021/ijfbp.v5i1.3367

Abstract

This research aims to investigate factors influencing firm performance. Two interesting factors have been identified, namely entrepreneurial orientation and narcissism. To the best of the author’s knowledge, this is the first research to investigate narcissism in the context of firm performance in Tunisia. This quantitative research involved 89 start-ups in Tunisia, each start-up was represented by either one junior or middle manager through non-probability sampling method. This research employed Structural Equation Modelling (SEM). The data was analysed using SPSS AMOS. The results reveal that 1) entrepreneurial orientation has a positive effect on narcissism 2) entrepreneurial orientation has a positive effect on firm performance and 3) narcissism has a positive effect on performance and 4) narcissism partially mediates the relationship between entrepreneurial orientation and firm performance.
Factors Affecting Corporate Governance and Its Implication on Accounting Information Quality: Indonesia Trusted Company Awardees Judith Gallena Sinaga; Hamfri Djajadikerta; Amelia Setiawan
International Journal of Family Business Practices Vol 5, No 1 (2022)
Publisher : Faculty of Business, President University

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.33021/ijfbp.v5i1.3699

Abstract

This study aims to explain the factors affecting corporate governance and its implication on accounting information quality.  Globally, there are many companies that collapsed due to misleading accounting information.  Companies declares financial statements as free from errors or misstatements wherein fact it misleads financial statements users.  There were 36 firm year observation being analyzed using PLS-SEM to process the available data.  The results showed that audit committee and board of directors have significant effect on good corporate governance, while institutional ownership has no significant effect on good corporate governance.  On the other hand, corporate governance has significant effect on accounting information quality. This is an indication that the quality of accounting information depends on the practice of good corporate governance.  Strict compliance of rules and regulations lead to better governance of publicly listed companies.  The originality of this research is that this is the first ever study that had focused on the awardees for mostly trusted, trusted, and fairly trusted companies listed in Indonesia Stock Exchange.         
Managing Virtual Teams: A Qualitative Study at Universitas Triatma Mulya Stenden Bali ERNA ZULAENI WILES; I Made Bayu Wisnawa; Mark de Jong
International Journal of Family Business Practices Vol 5, No 2 (2022)
Publisher : Faculty of Business, President University

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.33021/ijfbp.v5i2.3717

Abstract

The covid-19 pandemic and the social distancing policy forced Universitas Triatma Mulya Stenden Bali (UTMS) to switch from the conventional team (CT) to a virtual team (VT). The stakeholders were not ready, and references as guidance were nowhere to be found as VT was still new in Indonesia. Once conducted, however, students’ assignments were surprisingly high quality. Students’ evaluations of their education have been higher and more positive. This study was conducted to explore aspects, factors, benefits, challenges, and human resource management (HRM), and to provide recommendations to higher education institutions on how to run a VT. This qualitative research is descriptive-explorative in nature. Interviews were conducted with the Module Coordinators of UTMS, who have experience in conducting CT and VT. Findings show that 1) students are stakeholders, 2) due to its flexibility, efficiency, effectiveness, and profitability, a hybrid team (HT) is considered to be the most ideal and best option for the future, 3) the aspects, the factors and the challenges can be classified into the technology, the people, and the process, aside from leadership, trust, company culture and cultural intelligence, 4) The key success factors of HRM are the sophistication of the technology, class management and virtual presentation skills. To ensure the success of HT, it is recommended that higher education institutions should 1) recruit only experts in the industry, 2) create clear SOPs, 3) provide the right infrastructure and technology, 4) provide training and development programs, 5) give regular 3600 feedback and feedforward, and 6) provide non-financial rewards.
Local restaurant business performance during pandemic covid-19: a case of Nias Island, Indonesia Anggraeni Permatasari; Apta Lentani Zebua
International Journal of Family Business Practices Vol 5, No 2 (2022)
Publisher : Faculty of Business, President University

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.33021/ijfbp.v5i2.3481

Abstract

The purpose of this study is to encourage entrepreneurs who are motivated to make deliberate decisions to follow their dreams. This study aims to determine the factors that motivate and hinder restaurant entrepreneurs from maintaining their businesses during the Covid-19 pandemic. This study used a qualitative method with a single case study approach. Data were collected through interviews and observations. This study involved five informants who owned a pork restaurant business in Nias Island, Indonesia. The data analysis was performed using the GIOIA method. The results showed that three factors motivated entrepreneurs to keep running their businesses during the pandemic: socio-economic factors, self-fulfillment and family business longevity, and customer trust and loyalty. The findings also revealed barriers related to the sustainability of pork restaurants in the local area. This study identified four main barriers during the Covid-19 pandemic such: decreasing number of customers, scarcity of raw materials, lack of knowledge in business strategy, and limitations in fund resources. This study develops a solution to sustain pork restaurants in local areas during pandemic
ANSWERING TO THE CALLS OF DIGITIZATION: THE CRUCIAL ROLE OF ENTREPRENEURIAL AGILITY Tuti Asmala; Ahmad Johan; M Dana Prihadi
International Journal of Family Business Practices Vol 5, No 2 (2022)
Publisher : Faculty of Business, President University

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.33021/ijfbp.v5i2.3830

Abstract

Introduction/Main Objectives: The purpose of this study is to examine the mediating role of entrepreneurial agility in the relationship between digital platform capability and business model innovation adoption, while also considering the moderating role of technology opportunism and environmental dynamism. Background Problems: Digitization currently influences every aspect of individual, including the way they carry out business. Therefore, it is important to understand the way firms respond to this condition while conducting their business. Novelty: This study addresses how the business model innovation adoption can be more advanced and supported by digital platform capability by considering various conditions to deal with changes in technology and the environment, including entrepreneurial agility, environmental dynamism, and technology opportunism. Research Methods: This study is carried out using quantitative approach by distributing questionnaire to the owners or managers of creative MSMEs in Bandung, West Java. The respondents are chosen using purposive sampling method, with the number of samples of 120 respondents. The data is then analyzed with Structural Equation Modeling with AMOS 3.0. Finding/Results: Digital platform capability has a positive influence on entrepreneurial agility, which has a positive influence on business model innovation adoption. Entrepreneurial agility mediates the relationship between digital platform capability on business model innovation adoption, and this relationship is moderated by technology opportunism and environmental dynamism. Conclusion: This study highlights the importance of digital platform capability for firms, as it can lead them to have entrepreneurial agility, and ultimately carry out business model innovation adoption.

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