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INDONESIA
Indonesian Journal of Business and Entrepreneurship (IJBE)
Published by Institut Pertanian Bogor
ISSN : 24075434     EISSN : 24077321     DOI : -
Core Subject : Economy, Science,
Decision Sciences, Operations Research & Management Economics, Econometrics & Finance
Indonesian Journal of Business and Entrepreneurship (IJBE) publishes information of empirical research and reviews in business and entrepreneurship. IJBE is published by School of Business, Bogor Agricultural University (SB-IPB) associated with Indonesian Alliance of Magister Management Program (APMMI). IJBE was first published at the beginning of 2015 with three issue per year in January, May, and September. Editor receives articles of empirical research and reviews in business and entrepreneurship.
Arjuna Subject : -
Articles 393 Documents
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Leveraging Social Media For Enhanced Profitability and Growth: Evidence From Small and Medium Scale Enterprises (SMEs) in Ghana Padi, Abigail; Musah, Alhassan; Abekah Keelson, Solomon; Adjei , Linda
Indonesian Journal of Business and Entrepreneurship Vol. 10 No. 2 (2024): IJBE, Vol. 10 No. 2, May 2024
Publisher : School of Business, IPB University (SB-IPB)

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.17358/ijbe.10.2.455

Abstract

Background: Social media usage in Ghana is experiencing rapid growth. Leveraging social media can empower SMEs to overcome their challenges and enhance their visibility and profitability in the competitive business landscape.Purpose: This research investigated the utilization of social media tools in the marketing communication strategies of Small and Medium-scale Enterprises (SMEs) and explored their adoption. Additionally, the study examined the impact of social media usage on the profitability and growth of SMEs. Design/methodology/approach: The research aimed to survey 387 SMEs, with 200 providing fully completed questionnaires for analysis, resulting in a 52% response rate a notably reasonable figure compared to prior studies with smaller sample sizes.Findings/Result: The findings revealed that Facebook was the predominant social media platform employed by SMEs in Ghana, followed by Instagram, Twitter (X), TikTok, and LinkedIn. Notably, SMEs continued to heavily rely on their corporate websites for marketing communication. The study demonstrated a positive correlation between SMEs' use of social media and their profitability, indicating that social media usage enhances their financial performance. Furthermore, a positive and significant relationship was identified between SMEs' utilization of social media tools and their growth in Ghana. These results suggest that SMEs can leverage social media in their marketing communication efforts to drive sales and enhance overall growth prospects.Conclusion: The study indicated a positive association between social media usage and SMEs’ profitability, suggesting enhanced performance in terms of profits. Moreover, leveraging social media can drive sales and improve growth prospects. Overall, the study provides empirical evidence of the profound impact of social media tools on SMEs in Ghana which is consistent with the expectations of diffusion of innovation theory and technology acceptance theory.Originality/value (State of the art): The study contributes a notable gap by delving into the adoption and impact of social media on Small and Medium-sized Enterprises (SMEs) in both developing and developed countries. In addition, this study offers valuable insights for SMEs seeking to leverage social media for expansion, growth, and improved performance. Keywords: social media, SMEs, marketing communication, growth prospects, Ghana
How Entrepreneurial Teams' Heterogeneity and Learning Experiences Affect Business Performance through Self-Efficacy Aprilia Amanda, Indah; Tuti, Meylani
Indonesian Journal of Business and Entrepreneurship Vol. 10 No. 3 (2024): IJBE, Vol. 10 No. 3, September 2024
Publisher : School of Business, IPB University (SB-IPB)

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.17358/ijbe.10.3.509

Abstract

This study aims to ascertain how entrepreneurial learning experiences and entrepreneurial team heterogeneity affect self-efficacy and, consequently, company performance. Members of the Jakpreneur community from the East and North Jakarta metropolitan areas made up the study's demographic. Accidental sampling was the method employed, with 237 respondents who volunteered to complete the author's questionnaire. Using SmartPLS software, a structural equation model is used for data analysis. The findings of the study demonstrate a direct relationship between self-efficacy and company performance entrepreneurial learning experiences and entrepreneurial team heterogeneity. Subsequently, self-efficacy can serve as a moderator to demonstrate the indirect impact of entrepreneurial team heterogeneity and entrepreneurial learning experience on business performance. Learning experiences and diversity in the team both boost self-confidence, which in turn creates a positive feedback loop between motivation and company performance.
Exploring Antecedents: Key Factors Shaping Global Entrepreneurial Intention Sulistyowati, Tussi; Sukati, Inda
Indonesian Journal of Business and Entrepreneurship Vol. 10 No. 3 (2024): IJBE, Vol. 10 No. 3, September 2024
Publisher : School of Business, IPB University (SB-IPB)

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.17358/ijbe.10.3.556

Abstract

Background: Entrepreneurship involves more than just conceiving a viable idea; it necessitates fostering the right mindset for progress. Understanding the antecedents and crucial factors influencing global entrepreneurial intention is pivotal in shaping effective entrepreneurship policies and creating an enabling environment.Purpose: This research undertakes a thorough investigation into the antecedents and crucial factors influencing global entrepreneurial intention.Design/Methodology/Approach: Utilizing a robust qualitative method through a systematic literature review, the study meticulously scrutinized 772 papers from the Scopus database spanning 2015-2024, with a specific emphasis on entrepreneurial intentions. The deliberate selection of 31 articles underscored a systematic approach, enriching the dataset with the utmost relevance.Findings/Results: Across diverse economies like Saudi Arabia, India, China, and the United States, the study uncovered various research methodologies. Insights drawn from internal, external, and personal factors were examined through the lens of the Theory of Planned Behavior, shedding light on the complexities of entrepreneurial intentions. These findings, aligned with key concepts such as motivation, creativity, and self-efficacy, underscored the theory's applicability and deepened our understanding of the multifaceted dynamics shaping entrepreneurial intentions.Conclusion: The insights derived from this study should be considered when formulating entrepreneurship policies aimed at creating an enabling environment that addresses systemic barriers and fosters a culture of entrepreneurship.Originality/Value (State of the Art): This research offers a comprehensive and systematic exploration of the factors influencing entrepreneurial intention globally, employing a qualitative method and systematic literature review. It contributes significantly to the existing body of knowledge by contextualizing the Theory of Planned Behavior within diverse economic settings, thereby enhancing our understanding of the intricate dynamics that influence entrepreneurial intentions. Keywords: antecedent, entrepreneurial intention, Scopus, systematic literature review, Theory of Planned Behavior (TPB)
Superfood Business Development Strategy (Case Study Rumah Kurma Albarakat) Damanik, Siti Safira; Nuraisyah, Ani; Asikin, Zenal
Indonesian Journal of Business and Entrepreneurship Vol. 10 No. 3 (2024): IJBE, Vol. 10 No. 3, September 2024
Publisher : School of Business, IPB University (SB-IPB)

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.17358/ijbe.10.3.568

Abstract

Background: Superfood is one of the growing businesses since 2021. This research focuses on Rumah Kurma Albarakat (RKA), a business that sells superfood products and is currently experiencing fluctuations in revenue due to intense competition.Purpose: The purpose of this research is to identify RKA's internal and external factors, analyze customer perspectives on RKA’s products and brands, and determine alternative strategic priorities that RKA can implement.Design/Methodology/Approach: The analytical tools used are the internal factor evaluation-external factor evaluation (IFE-EFE) matrix, internal-external (IE) matrix, strength-weakness-opportunity-threat (SWOT), and quantitative strategic planning matrix (QSPM) as part of the three-stage formulation analysis as well as 7P analysis to support strategy formulation.Findings/Result: The results obtained twelve alternative strategies with the main priority is amplifying branding through collaboration with other businesses or influential figures and content development on social media. The second priority is to present a new shopping atmosphere or experience for RKA customers.Conclusion: RKA's primary internal strength lies in its commitment to maintaining product quality and consistently conducting promotional activities. However, a weakness of RKA is its failure to record net profits. Priority alternative strategies that RKA can implement include strengthening its branding through collaborations and content, introducing new atmospheres or experiences for customers during their shopping experiences at RKA, and boosting social media traffic by enhancing interaction with the audience.Originality/value (state of the art): Through a comprehensive methodology utilizing analytical tools like the IFE-EFE matrix, SWOT analysis, and QSPM, the research identifies RKA's internal strengths in product quality and promotional efforts, juxtaposed against the weakness of unrecorded net profits. Twelve alternative strategies are proposed, with a primary emphasis on collaborative branding and social media content development, followed by the strategic initiative to enhance the shopping experience. This integrated approach positions RKA to navigate market challenges and foster sustained growth in the competitive superfood landscape. Keywords: customer perspectives, development strategy, alternative strategies, superfood, three-stage formulation analysis
The Expertise Business Development Strategy of PT Prima Kelola IPB (Subsidiary Company of PT BLST Group) Through Business Model Canvas Approach Kamil, Fathan; Satria, Arif; Zulbainarni, Nimmi
Indonesian Journal of Business and Entrepreneurship Vol. 10 No. 3 (2024): IJBE, Vol. 10 No. 3, September 2024
Publisher : School of Business, IPB University (SB-IPB)

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.17358/ijbe.10.3.476

Abstract

Background: PT Prima Kelola IPB business application currently does not have an optimal business model so the right strategy is needed to develop the business model. Purpose: The objectives of this study are to analyze the current business model through a Business Model Canvas mapping (BMC) approach, determine three priority elements on BMC, compile an improvement business model canvas, and formulate alternative strategies to develop. Design/methodology/approach: The method used in this study is the Business Model Canvas approach, Importance Performance Analysis, and SWOT analysis. Findings/Result: The results of this study show that the three priority elements selected on BMC are customer segment, key activities, and key partnerships. Based on the results of SWOT analysis and FGD, the formulated alternative strategies are: 1) creating a strategic alliance for all IPB University in seeking projects; 2) expansion of collaboration with alumni network abroad to reach global markets; 3) optimizing the network by adding expertise, lecturers, practitioners, suppliers, other partners. Conclusion: The development of this business model is expected to be able to encourage the company's portfolio efforts to be maximized in increasing business volume, increasing operational efficiency, and increasing the market reach of PT Prima Kelola IPB through strategic steps that can be taken in this research.Originality/value (State of the art): This research contributes to the limited discourse in the literature on business development strategies of IPB University's subsidiaries by integrating SWOT and AHP methods to produce alternative strategies as a step for companies to develop new business models. Keywords: BMC, importance performance analysis, SWOT, alternative strategy, business model
Reward and Consumer Brand Engagement: Building Brand Loyalty in The On-Demand Service Platform Hidayat, Desman; Selviana; Alfaizah, Muhamad Agung; Rumangkit, Stefanus; Pratiwi, Chairani Putri
Indonesian Journal of Business and Entrepreneurship Vol. 10 No. 3 (2024): IJBE, Vol. 10 No. 3, September 2024
Publisher : School of Business, IPB University (SB-IPB)

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.17358/ijbe.10.3.467

Abstract

Background: The on-demand service platform is an uprising business that has become more popular recently. Nevertheless, the competition within this industry can make it hard for companies to survive. Therefore, brand loyalty is vital to ensure the business survives the competition. Purpose: This study investigates how reward and consumer brand engagement can affect brand loyalty in the on-demand service industry. Design/methodology/approach: Empirical evidence was collected using a quantitative method using convenience sampling from 232 users of Indonesia’s most significant on-demand service industry. This study used Structural Equation Modeling (SEM). Findings/Result: The results of this study show that reward and consumer brand engagement both have positive and significant effects on brand loyalty. Furthermore, consumer brand engagement also mediates the relationship between reward and brand loyalty of the customers. Conclusion: Therefore, it is crucial for on-demand service platforms to improve their reward system for the customer and to pay more attention to their consumer brand engagement to improve brand loyalty.Originality/value (State of the art): Only a few articles use rewards in gamification in a business context. Keywords: brand loyalty, consumer brand engagement, gamification, on-demand service platform, reward
Corporate Governance and Firm Risk: Earnings Management as Moderating Variable Eriandani, Rizky; Wijaya, Melvina Gome; Sulistiawan, Dedhy
Indonesian Journal of Business and Entrepreneurship Vol. 10 No. 3 (2024): IJBE, Vol. 10 No. 3, September 2024
Publisher : School of Business, IPB University (SB-IPB)

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.17358/ijbe.10.3.531

Abstract

Background: The research on corporate governance and firm risk is of paramount importance from an economic standpoint, primarily due to its significant influence on company performance and stability. Effective corporate governance can play a pivotal role in mitigating corporate risks.Purpose: This study aims to investigate the impact of many factors related to corporate governance (such as board size, board independence, board meetings, board gender diversity, audit size, audit independence, audit meetings, audit quality, institutional ownership, and largest ownership) and earnings management on company risk. Furthermore, earnings management factors play a role in the connection between corporate governance and firm risk.Design/methodology/approach: The study employed a sample of three companies with the highest assets and three with the lowest assets from each sector listed on the Indonesian stock exchange throughout 2020–2022. For testing purposes, this study uses panel data and moderated regression analysis.Finding/Result: These findings show that several factors impact firm risk, including board meetings, board independence, discretionary earnings management, audit size, audit independence, institutional ownership, and largest ownership. Earnings management can mitigate the impact of audit attributes on corporate risk. Furthermore, studies have shown that earnings management plays a crucial role in reducing the influence of ownership structure on firm risk.Conclusion: The research results show that several proxies of corporate governance are able to reduce company risk. Earnings management further moderates the influence of these factors.Originality/value (State of the art): This research investigates the relationship between firm risk and a broad range of internal governance traits. It is important to note that only a few studies in the literature have examined this relationship because investors are concerned about return volatility, which is a gauge of a company's risk. This research can encourage improvements in corporate governance policies. Managers can use research findings to identify weaknesses in existing governance practices and develop more effective policies for managing risks associated with earnings management practices. Keywords: corporate governance, firm risk, earnings management, audit, company performance
Service Model Loyalty for School Yearbook Production at PT XYZ Luni Aulia Safwani; Hartoyo; Suharjo, Budi
Indonesian Journal of Business and Entrepreneurship Vol. 10 No. 3 (2024): IJBE, Vol. 10 No. 3, September 2024
Publisher : School of Business, IPB University (SB-IPB)

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.17358/ijbe.10.3.518

Abstract

Background: Customer loyalty is a crucial aspect in the world of business and marketing, influencing sales, brand reputation, and company profits. The focus on customer loyalty is increasingly becoming a priority for many companies, including PT XYZ, a creative design company specializing in the production of School Yearbooks. Purpose: This research aims to identify the level of satisfaction and loyalty among PT XYZ customers, analyze the influence of marketing mix and service quality on customer satisfaction and loyalty, and formulate managerial implications for enhancing satisfaction and loyalty. Design/methodology/approach: The study involves 200 respondents purposively selected from 373 users of PT XYZ's services. Data collection was done through self-completion by respondents using an online questionnaire via Google Forms. Data analysis was conducted using modeling techniques that explain the relationship between loyalty, customer satisfaction, and the performance of the marketing mix and service quality. The estimation of model coefficients used the SEM-PLS rule. Descriptive analysis results indicate high satisfaction with the final product outcomes, while high loyalty is reflected in repeat purchases and recommendations to others. Findings/Result: The research findings show that all attributes of the marketing mix have a direct impact on customer satisfaction and loyalty. On the other hand, service quality has a direct impact on customer satisfaction but an indirect impact on loyalty, with customer satisfaction acting as a mediator. Conclusion: Managerial implications that can be formulated include improving marketing in Java Island, implementing marketing strategies through social media, maintaining consistency in product quality, enhancing service quality, implementing co-creating processes, and establishing a customer service division. These efforts are expected to address declining revenue and maintain customer loyalty for PT XYZ.Originality/value (state of the art): This study uniquely explores customer satisfaction and loyalty in the niche market of school yearbook production. It integrates the marketing mix and service quality, using SEM-PLS to analyze their impacts. The research fills a gap by providing actionable insights specifically for creative design businesses, offering practical strategies to enhance customer loyalty and business performance. Keywords: consumer loyalty, customer satisfaction, marketing mix, service quality, School Yearbooks
An Investigation of The Determinant Influencing Indonesian Households' Decisions to Consume Fast Food Herispon; Jenita
Indonesian Journal of Business and Entrepreneurship Vol. 10 No. 3 (2024): IJBE, Vol. 10 No. 3, September 2024
Publisher : School of Business, IPB University (SB-IPB)

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.17358/ijbe.10.3.498

Abstract

Background: In this day and age, hectic work schedules and daily routines have an impact on household consumption patterns and lifestyles. This is especially true in Indonesia and many other countries where people are shifting from preparing their own food to buying fast food. Purpose: To determine the reasons why families eat fast food, examine those reasons, and calculate the direct and indirect consequences of those reasons. Design/methodology/approach: Using a purposive sample approach and direct and online surveys, the study was carried out in 2023 on 1021 respondents in Pekanbaru City, Riau specifically, and Indonesia in general. Using the SEM-PLS analysis tool, a descriptive quantitative analysis method is used. Findings/Result: The study's findings indicate that a variety of interrelated elements, including cultural, personal, psychological, social, economic, and place-related aspects, have an impact on households' intake of fast food. The elements that have an impact on household decisions to consume fast food are described together with their relationship and influence, based on multiple direction connections. Conclusion: In summary Decisions on how much fast food to eat are heavily influenced by social and individual factors. This demonstrates how the decision to purchase fast food is influenced by factors such as household identity, social environment, and social media environment. Originality/value (State of the art): Research can reveal a true picture of the interactions between variables that have not been seen in earlier studies, offering managerial implications and contributions to the formulation of policies that directly affect Indonesia's fast-food industry. Keywords: household consumption, social environment, fast food, lifestyle, social media
The Influence of Social Entrepreneurship Orientation on The Sustainability of Tourism Villages Through Community Empowerment Aguzman, Glory; Pratiwi, Chairani Putri; Eni, Yuli; Sasongko, Agung Hari
Indonesian Journal of Business and Entrepreneurship Vol. 10 No. 3 (2024): IJBE, Vol. 10 No. 3, September 2024
Publisher : School of Business, IPB University (SB-IPB)

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.17358/ijbe.10.3.488

Abstract

Background: Datajadesta.com classifies tourist villages into four categories: independent, advanced, developing, and pioneering. More local communities gain from increased rural tourism managed by tourism-focused organizations. However, problems with management often arise, which increases the risk that the tourism sector won't grow or reach a certain level. This is a problem that any group that cares about tourism, like the Pokdarwis, must overcome.Purpose: This study aims to investigate the significant influence of social entrepreneurial orientation in advancing the sustainability of rural tourism (the so-called triple bottom line) in terms of benefits to the environment, community, and economy. This orientation can indirectly benefit the management strategies of tourism-aware organizations. While performing. Design/methodology/approach: By using accidental sampling, up to 34 rural tourism activists from each tourism awareness group across Indonesian rural tourism were gathered in accordance with the criteria from https://jadesta.kemenparekraf.go.id. Based on their advanced and mature levels, respondents were selected. autonomous tourist village. To ensure meaningful relationships, process the data using Smart Pls 4. Findings/Result: Hypothesis 1, social entrepreneurship orientation has a major impact on community empowerment. However, hypothesis 2 indicates that social entrepreneurship orientation has no significant impact on the sustainability of rural tourism. Finally, hypothesis 3 asserts that social entrepreneurship orientation has a significant impact on the sustainability of rural tourism through community empowerment. Conclusion: Encouraging community involvement in tourism development and promoting social entrepreneurship as a means of achieving the Triple Bottom Line, as well as the significant role it plays in empowering local communities and promoting sustainability in tourist villages.Originality/Value (State Of the art): The study highlights the critical role of social entrepreneurial orientation in promoting the sustainability of rural tourism through community empowerment, though it does not directly impact sustainability on its own. By classifying tourist villages into various development stages, the research underscores the necessity of effective management by organizations like Pokdarwis to overcome challenges and foster growth. Keywords: empowerment community, rural tourism, social entrepreneurship orientation, sustainability, triple bottom line

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