Ilomata International Journal of Management
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Development of a MSMEs Digitalization Transformation Model: Optimization of The Use of Crowdfunding as an Alternative to Information Technology Based Capital Solutions
Get PDFDigitalization of MSMEs is one strategy to accelerate the development of MSMEs in an inclusive and massive manner. The Financial Technology (Fintech) phenomenon in recent years has encouraged the emergence of various new services in the financial sector, including Crowdfunding. Crowdfunding is the practice of raising funds or investment by utilizing a site or website. Currently, it is indicated that there is still very little use of crowdfunding among MSMEs players. For this reason, a comprehensive study is needed regarding the importance of MSMEs utilizing Crowdfunfing as an alternative to overcome capital problems. Research design used is mix method (descriptive non experimental and judgement sampling). Sample are selecting by non-random sampling (judgment sampling). Based on the results of a survey involving 71 business doers, most of them are managers and owners, included the category of small and medium business doers with 50 to 100 employees, it was found that most of these business doers were familiar with crowdfunding as an easily accessible funding alternative. The results of the analysis using SEM-PLS, interesting findings were obtained that perceptions and aspects of technology and entrepreneurship from business actors had a positive effect on interest in using crowdfunding. Recommendations for future research are the need to research the role of capital markets and regulations, which in this research were assessed as having not been optimally socialized by MSMEs players. The point is that in the future MSMEs players must be given space to gain access to funding through crowdfunding in an inclusive manner
The Influence of Organizational Justice, Grit and Leader-Member Exchange on Employee Engagement
Get PDFThe purpose of this paper is to determine the influence of organizational justice, grit, and leader-member exchange on employee engagement. This research is quantitative research using survey questionnaire prepared on a five-point Likert scale. Proportionate stratified random sampling was used to select the state civil servants from the head office of the Ministry of Education, Culture, Research and Technology (MOECRT) that was located in Senayan, Jakarta. A total of 340 questionnaires were distributed and 243 valid responses collected. Data were analyzed using the structural equation modelling with the help of SmartPLS 4 software. It was found that organizational justice, grit, and leader-member exchange had a positive and significant impact on employee engagement. MOECRT shall focus on the practice of organizational justice in building high quality leader-member exchange and developing grit trait within the employee as they have positive impact on employee engagement
Proposing the Model to Accelerate SMEs to Apply Green Economy Practices Through the Utilization of Social Crowdfunding
Get PDFFollowing Indonesia's commitment to promoting the achievement sustainable consumption and production practices (RCP- SDGs Number 12), a plan must be put in place to motivate important players (SMEs) to support the green economy. The limitations of SMEs in terms of funding to be able to implement green economic practices are accommodated through access to financial technology, namely social crowdfunding. To gain insight into how SMEs implement green economic practices by utilizing social crowdfunding, a survey was conducted on 75 SMEs use descriptive research design. The results of the descriptive analysis found that some SMEs have not been able to take advantage of social crowdfunding due to several reasons: not being able to access the right website, having requirements that are difficult to fulfill and their technology skills are not yet good. An interesting insight that was extracted from the results of this survey is the high level of confidence among SMEs that implementing green economic practices using social crowdfunding can improve business performance and are confident that they can overcome all difficulties. The proposed conceptual model can apparently be supported by research results which produce the proposition namely:" willingness to participate in implementing green economic practices using social crowdfunding needs to be driven by creating strong awareness and interest by triggering 3 important determinants, namely stakeholder management, community engagement and entrepreneurship strategy”. In the future, this conceptual modeling can be used to conduct quantitative research so that it can explore the facts in the field in a comprehensive manner
Effect of Sustainable Marketing Activities on Customer Loyalty among Young Generations: Case of Fashion Industry in Greater Jakarta-Indonesia
Get PDFThis research discusses the importance of sustainable marketing activities for the long-term success of companies. The research highlights the need for a multidimensional and systematic approach to understanding sustainable marketing by including the cultural dimension. Due to the lack of studies looking at the effect of four dimensions of sustainable marketing activities on customer loyalty, this study aims to test the effect of sustainable marketing activities on brand image, customer satisfaction, and customer loyalty. This research focuses on Generation Y and Z consumers in Greater Jakarta who are more concerned about sustainability issues and are aware of global fashion brands that have implemented ESG. Data from 218 samples selected using judgmental sampling were analyzed using PLS-SEM. The findings show that all dimensions of sustainable marketing activities significantly affect brand image, which sequentially influences customer satisfaction and loyalty. This study finds that cultural dimension has the greatest effect on brand image, while social dimension has the lowest effect. The positive brand image is found to increase customer satisfaction and loyalty. These findings confirm the application of signaling theory, and further practical implications are provided based on the findings
Nano Influencer Analysis of Purchasing Interest in Micro and Small Business Products
Get PDFThis research aims to examine the influence of the nano influencer model innovation (ni) on purchasing decisions (kp) through consumer behavior (pk) and purchase interest (mb) on micro and small business or MSME products carried out in the media. In addition, this research also explores the mediating role of consumer behavior (pk) and purchase interest (mb) in relation to decision making (kp). using primary data collected in this research through a questionnaire clicked through Google Form by a total of 125 respondents. Sampling was carried out deliberately, with a focus on students who had experienced or had experience as influencers. Research findings show that ni, kp, and mb have a significant influence on kp in the Jakarta Bogor Depok Tanggerang Bekasi or JABODETABEK area. In addition, a significant influence of pk was found, and mb was identified as the main mediating factor between ni and kp, which were correlated with each other. This research presents the latest information and analysis regarding factors that can help students become nano influencers
The Digitalization in Insurance Broker Industry: How Artificial Intelligence Affect This Industry
Get PDFThis qualitative research explores the impact of digitalization, with a particular focus on artificial intelligence (AI), on the insurance broker industry. In-depth interviews and focus group discussions were conducted with eight senior-level employee and eight younger participants from technology and operations departments, also from client-facing positions. The research aimed to analyze the impact of digitalization, especially artificial intelligence, to the insurance broker industry and to explore whether artificial intelligence is capable to replace an insurance broker role. The findings indicate that digitalization, including the adoption of AI, has brought about significant advancements in the industry. Digitalization efforts have led to streamlined processes, reduced costs, improved data analysis, and enhanced customer experiences. The findings of this research highlight the importance of taking a deliberate and strategic approach to digitalization and AI adoption in the insurance broker industry. Companies should use technology to increase efficiency while maintaining the human-centric elements that are essential for developing strong client relationships and providing tailored insurance solutions
The Mediation Role of Financial Performance on the Influence of Green Accounting on Banking Sector Company Value
Get PDFThis study aims to examine the influence of green accounting and financial performance on company value and the role of economic performance in mediating the impact of green accounting on company value. The research population is 47 banking companies listed on the IDX from 2021 to 2023. The sampling technique used purposive sampling with 132 observation research samples. The results of the study show that green accounting has a positive effect on company value. At the same time, financial performance cannot mediate the influence of green accounting on company value. The study's results support the stakeholder theory that companies must consider environmental impacts to improve relationships with other stakeholders. The research results can also encourage governments and regulatory authorities to develop policies that support ecological transparency and sustainable accounting reporting. This research is limited to collecting green accounting data for some companies that do not present sustainability reports separately, making it difficult for researchers to trace the data
Determinant of Digital Transformation on MSME Creative Industry: A Confirmatory Factor Analysis
Get PDFThe latest study highlights the importance of the role of digital transformation in increasing the competitiveness of micro, small, and medium enterprises (MSMEs). However, the complex interaction between factors influencing digital adoption in MSMEs in the creative economy sector is still unresearched, especially in developing countries. This study aims to investigate the determinants of digital transformation adoption among MSMEs, focusing on the relative influence of organizational, technological, and environmental factors. We use a quantitative approach by conducting a survey of 254 MSME owners and managers. The data was analyzed using confirmatory factor analysis (CFA) to assess the relationship between variables. Our findings reveal that organizational factors exert the strongest influence on digital transformation adoption, followed by technology factors. Environmental factors, while significant, show a relatively lower impact. This study contributes to a more diverse understanding of digital transformation in MSMEs by emphasizing the excellence of the organization's internal capabilities. Our study shows that policies aimed at driving digital adoption should prioritize strengthening organizational readiness alongside technology support
The Role of Social Entrepreneurs in Increasing Sustainability Values through Good Governance Practices: Case Study of Pesona Plastic in Bali
Get PDFThis research explores the role of social entrepreneurs in creating social impact through implementing good governance. Social entrepreneurs often combine business goals with social missions, using sustainable business models to address social issues such as poverty, the environment, and education. Good governance is the key to success because it ensures transparency, accountability, and inclusive participation in decision-making. This qualitative research highlights how good governance practices can strengthen the legitimacy and sustainability of social enterprises and increase positive impacts in society, especially in Bali. This research explores the role of social entrepreneurs in creating sustainable social impacts through the Theory of Change approach and the Penta Helix model. Theory of Change is used to formulate effective social transformation strategies by identifying the ultimate goal and the critical steps needed to achieve it. Meanwhile, the Penta Helix model facilitates collaboration between five key elements—government, academics, business, community, and media—to strengthen the social innovation ecosystem. This research highlights how social entrepreneurs can utilize these two approaches to strengthen good governance, increase accountability, and expand positive impacts on society through inclusive and sustainable partnerships
Human Capital Management as A Catalyst for Organizational Change: A Study on West Java Health Laboratory (BLUD) Transition
Get PDFHuman capital management is limited to administrative tasks despite their importance to an organization's performance. This study seeks strategic human capital management (HCM) methods to help BLUD mplementation succeed, focusing on flexible government norms. The study uses qualitative thematic analysis and quantitative SEM-PLS to assess the organization's human capital practices. The results reveal that leadership techniques are good, but other areas for change can be improved. The paper recommends an dvanced Human Capital Management System (HCMS) for leadership development, learning, workforce efficiency, knowledge accessibility, and employee engagement. A structured HCMS can incorporate these improvements to manage and expand human capital and align employee competencies with BLUD transition goals. The research recommends 7S change management for HCM implementation. The framework helps the organization recognize change and handle critical challenges in line with transformation goals. The need for a specialist committee to oversee the development and implementation of these initiatives emphasizes leadership's role in organizational transformation. According to the study, digitalization, talent management, systematic training, employee well-being, continuous competency, and performance evaluation are critical to long-term success. This study suggests ways an organization can improve its human capital management to move to BLUD status smoothly. To validate and improve the HCM strategy, future studies should apply