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Penggunaan Operator Hotel serta Dampaknya terhadap Kinerja Keuangan dan Risiko Financial Distress
Full text linkThe hotel business and other business chains will increasingly develop in line
with the growth of the tourism sector. In 2018, most accommodation businesses
have their own (independent) accommodation business management system, which
is 26 612 businesses or 94.27%. While the remaining 474 businesses or 1.68% have
an international chain accommodation business management system and as many
as 1 144 businesses or 4.05% have a national chain accommodation business
management system. The development of the use of hotel operators in Indonesia,
both conventional hotel operators and digital-based hotel operators (VHO)
encourages the growth of the hotel operator business.
One of the local players in the hospitality industry is XYZ, which was
established in 1973. XYZ is a subsidiary of a State-Owned Enterprise (SEO) that
operates in the hospitality industry and has three hospitality subsidiaries namely
MHH, SPH, BIH, and one management services subsidiary is AHH. AHH as a hotel
operator owned by XYZ is given the authority to manage the hotel so that it is
expected to provide optimal performance. However, during the last five years, there
were many MHH, SPH, and BIH financial indicators that were not achieved with a
downward trend in financial performance. The important role of hotel operators for
hotel owners both XYZ and third parties will have an impact on hotel business
performance.
This study was conducted to analyze the hotels financial performance,
economic value added, and financial distress risk on MHH, SPH, and BIH from the
XYZ policy. The intended XYZ policy is a change to a strategic holding and gives
AHH the right to manage XYZ hotels. The scope of this study is limited to XYZ
hotels managed by AHH since 2010. Observations made were from 2001 to 2018,
or nine years before and nine years after the XYZ hotel was managed by AHH.
Data was obtained based on XYZ hotel audit financial statements and other
sources. Analysis of the data used in this study includes financial performance
analysis and financial distress analysis. Furthermore, financial performance data
and financial distress are tested using an independent t-test to find out whether there
is an average difference between before and after managed by AHH.
The results showed that 1) the financial performance of MHH and SPH hotels
was good despite the impact of the Bali Bombings I and II in 2001 to 2006 and an
increase in long-term liabilities in 2014 to 2017. While for BIH, the financial
performance showed a poor trend where over the past six years negative profit with
negative EVA. 2) MHH underwent financial distress in 2002 to 2006 and the
following year was categorized as healthy, as company profits improved. SPH
during the study period was categorized as healthy and BIH was in financial distress
from 2001 to 2006 and from 2017 to 2018 due to loss and negative equity. 3)
Statistical test results show that AHH as a hotel operator failed to improve the
financial performance of XYZ hotels
Pengaruh Faktor Instrinsik dan Faktor Ekstrinsik Motivasi Kerja terhadap Kinerja Karyawan Hotel XYZ
Full text linkHotels become an important role in the tourism industry. Without hotels,
tourists cannot enjoy their holidays in a pleasant way. This is because the hotel
provides overnight services and other services that are needed in comfort. For this
reason, the government provides a classification of hotel quality, so that it will be
easier for tourists to choose hotels according to their abilities. In the hospitality
industry, with its main products being services, human resources (HR) are
required to have the skills and expertise in their field of work. For this reason, HR
must have the advantage in issuing creative ideas or new ideas that will be applied
in the work environment. So resources like this are expected to be able to advance
the wheels of the company, so that its objectives can be achieved like one of them
in terms of improving employee performance. A person's behavior, for example in
work ie work productivity is influenced by intrinsic and extrinsic factors. The
intrinsic element in question is the level of education, knowledge, skills, work
motivation attitudes, and the level of work experience. While the extrinsic
elements are the family environment, socio-cultural, economic, work culture, and
technology (Mangkuprawira 2009).
This study aims to analyze the relationship of motivational factors (extrinsic
and intrinsic) to the performance of XYZ Hotel employees. The questionnaire was
distributed to 80 respondents using the census method. The analytical method in
this study uses the crosstab test, chi-square test, and Structural Equation Model
(SEM) using the Partial Least Square (PLS) approach.
Crosstab test results and chi-square test showed the characteristics of age,
level of education, employee status have a significant relationship to intrinsic
motivational factors. Characteristics of tenure, employee status and position have
a significant relationship to the motivation of extrinsic factors. Sex characteristics
have a significant relationship to employee performance. Then the SEM PLS
analysis results show that intrinsic motivation has no significant effect on
employee performance and extrinsic motivation has a significant effect on
employee performance, so to improve employee performance the company can
increase components in extrinsic factors such as compensation, working
conditions, relationships between employees, the relationship between superiors
and subordinates
Analisis return saham saat siklus ekonomi resesi dan ekspansi pada sektor consumer goods dan sektor pertambangan terdaftar di BEI
Full text linkIn investing, all investors expect an optimal rate of return. But the rate of
return received by investors (actual return) does not always match the expected rate
of return (expected return). This situation shows that investors face investment risk,
which is reflected in the value of beta (β). Beta is a systematic risk measure of a
stock or portfolio. The term beta refers to an indicator, which shows the level of
stock risk against the level of market risk. Beta value indicates the size of the
sensitivity of changes in the level of stock returns to changes in market profit levels.
This study aims to analyze stock returns during a recession and expansion
cycle on two characteristics of different stock sectors, namely the Consumer goods
Sector and the Mining Sector. This study also analyzes the asset pricing model with
the best level of accuracy in estimating stock returns for two different sectors and
two economic cycles. This study uses multiple regression to see the effect of beta
and gross domestic product growth on stock returns and the Mean Absolute
Deviation Method to measure the asset pricing model with the best level of
accuracy.
The analysis shows that beta has a significant influence on the return of
shares of the consumer goods sector and the mining sector during recession and
expansion. While the growth of gross domestic product only has a significant effect
on the stock returns of the mining sector during recession and expansion. But in the
consumer goods sector, gross domestic product growth has no significant effect on
stock returns during recession and expansion cycles. The model with the best level
of accuracy for estimating stock returns in the consumer goods sector is the
Arbitrage Pricing Theory at the time of recession and expansion. As for the mining
sector, the best models are Arbitrage Pricing Theory during a recession and the
Capital Asset Pricing Model when expansion cycle.
Managerial implications that can be conveyed for the type of risk averse
investor with a low degree of risk aversion can choose the mining sector (aggressive
stocks) and during the expansion cycle, due to better average stock returns. And,
for the type of risk averse investor with a high degree of risk aversion can choose
the consumer goods sector (defensive stocks) and during a recession, due to better
stock returns. As for the asset pricing model in estimating stock returns with the
best level of accuracy is Arbitrage Pricing Theory, illustrated from the expected
return value and the smallest error value.
This illustrates that in general, stock return analysis in the consumer goods
sector and the mining sector both during the recession cycle and expansion cycle is
influenced by macroeconomic variables contained in the calculation of the expected
return model Arbitrage Pricing Theory as the model with the best level of accuracy
Pengaruh motivasi kerja dan kepuasan kerja terhadap sikap karyawan pada rotasi kerja (study kasus pada hotel lokal di kota bogor)
Full text linkThe development of the tourism industry is increasing rapidly, causing
business people, especially hospitality, to compete to become market leaders. In
this era, hotel business competition is not only played by international and
national network hotels, but local hotels also contribute to enlivening this
competition. To face hotel competition in this globalization era, local hotels are
required to provide excellent service quality, because international and national
hotel networks benefit from big names that are not foreign to most people.
Therefore, organizations certainly want employees who are oriented to the needs
of the company in improving service. Work rotation is one of the hotels needs to
provide training and development for its employees, as well as one way to place
the right people according to the needs of the organization.
The objective of this study is to analyze work motivation and job
satisfaction on employee attitudes to job rotation at XYZ Hotels in Bogor City.
This questionnaire was distributed to 92 respondents using a purposive sampling
technique with consideration of positions that experienced job rotation. The
analytical method in this study uses Structural Equation Model (SEM) to analyze
work motivation and job satisfaction on employee attitudes toward job rotation, Ttest
and ANOVA to see differences in latent variables with respondents'
characteristics.
The results of this study indicate that work motivation has an effect on
job satisfaction, job satisfaction has an effect on employee attitudes to job
rotation. However, work motivation does not have an effect and has a weak
relationship and in the opposite direction to the attitude of employees on job
rotation. So, organizational efforts in shaping employee attitudes that are positive
for work rotation, ensure a close relationship between work motivation and job
satisfaction and job satisfaction with employee attitudes to job rotation so that
employees respond to job rotation activities as a positive thing
Faktor-faktor yang mempengaruhi keputusan memilih online travel agent untuk memesan tempat menginap
Full text linkThe development of the world of communication technology is like the internet, making it easier for people to consume and produce information. Every community activity uses the internet as a medium for communication, doing business and so on. This makes the promotion mix like a traditional word of mouth (WOM) evolved into an electronic word of mouth (eWOM). Online travel agent (OTA) is a hospitality industry that has the potential to expand due to the effect of technology in Indonesia, therefore the hospitality business won’t run out of business due to lack of promotion.
The purpose of this research is to analyze factors that influence a customer to book their accommodation through OTA. Predictable factor variables are brand image, electronic word of mouth (eWOM), perceived ease of use, perceived risk and decided to choose OTA for Accommodation. This research is conducted on 382 respondents chosen through convenience sampling with the criteria, they booked their accommodation through OTA in the last two years at least once and are 18 years old or older. This research uses a quantitative method by filling a questionnaire that was spread online. Data then analyzed using SEM (Structural Equation Modeling) with AMOS (Analysis of Moment Structure) version 22 by first testing the validity and reliability of the research model.
The results of this study indicate that 1) brand image has a positive and significant direct influence on the decision to choose OTA for accommodation booking, 2) perceived ease of use (PEU) has a positive and significant direct influence on the decision to choose OTA for accommodation booking, 3) brand image has a positive and significant indirect influence on electronic word of mouth (eWOM), 4) PEU has a positive and significant indirect influence on eWOM, 5) eWOM has a significant negative influence on the decision to choose OTA for accommodation booking and 6) perceived risk does not have a significant influence on the decision to choose OTA for accommodation booking. The Managerial implications that can be implemented are: responding to the critiques given through comments (eWOM), protecting the privacy of customer’s data to avoid data leak, and fixing the transaction system for the consumer’s convenience. Evaluation of the quality and service of OTA application is a managerial implication that can be performed by company management that collaborates with OTA to increase repeat bookings
Analisis keuanggulan kompetitif berkelanjutan perusahaan crowd-business syariah (studi kasus pada halal network international)
Full text linkBusiness model innovation of a company is a form of adaptation to the current
economic turmoil to determine competitive advantage. Companies with market leader
positions have begun to be displaced by challenger companies implementing open
innovation. To deal with this, PT HPA Indonesia or Halal Network International (HNI)
which is based on the Muslim crowd and consistently is considered to be developing and
getting the leading position must be able to survive in the middle of market. As a marketbased
enterprise build upon sharia with a social mission for contributing the welfare of the
people, HNI must determine the right strategy for the sustainability of its position in the
future. Besides innovating a unique business models and processes by market challengers
in the halal and quality health product industry, the Halal Network system is also threatened
by the existence of negative perspectives on Multi-level Marketing companies. In order for
evolving marketing and networking capabilities, benchmarks in marketing learning are
necessary for a sustainable competitive advantage.
This study aims to analyze sustainable competitive advantage strategies in Islamic
crowd-business companies with HNI case studies. The mixed method approach are carried
out using literature studies, guided interviews, and online questionnaires for certain experts.
The data processing technique used in this research is ANP (Analytical Network Process)
to involve the analysis of the relationship between the network elements.
The results show that an Effective strategy is the right performance strategy to
achieve a sustainable competitive advantage in Islamic crowd-business. This strategy
focuses on developing Resource capital. It was found that there are 10 strategies that
determine the sharia crowd-business performance strategy. The three elements with the
lowest priority in this pride strategy model are Reputation & quality control, Technology
& buyer fulfillment and Sales of product content. By combining Institutional and Resource
Capital, sustainable competitive advantage can be achieved with a focus on performance
on Company image and Leadership
Analisis kepuasan dan loyalitas pelanggan restoran XYZ di Jabodetabek
Full text linkAlong with the increasing number of asian fast food restaurants, the level of
competition has also increased. Owners and managers of Asian fast food restaurant
businesses are required to provide quality services and products according to
consumer needs in order to maintain their existence. Owners and managers of Asian
fast food restaurants need to know the factors that influence customer satisfaction,
including service quality and product quality. The quality of services and products
as well as perceived value is closely related to customer satisfaction and loyalty.
Therefore, it requires quality restaurant services and products as well as high value
for the products and services provided. High product and service quality generate
high customer satisfaction as well. Customer perceptions of the quality of products
and services obtained determine customer satisfaction. The quality of services and
products as well as value for money is able to make the costumer satisfied and
returned to the restaurant, and even buy more products and recommend to the
people closest to them. Customer satisfaction, trust and loyalty are important
indicators for a company to survive in the market. Fulfilling customer needs and
desires is one of the company's commitments needed to maintain customer loyalty.
Based on this, research needs to be conducted to find out how the behavior
and patterns of customer decision making in choosing XYZ restaurants; what is the
level of customer satisfaction and loyalty at XYZ restaurant; and what are the key
factors affecting customer satisfaction and loyalty. This study will provide
important input for the XYZ restaurant management in facing competition in the
food and beverage business. Utilization of data and information is important,
especially those related to consumer characteristics, relationships and factors that
affect customer satisfaction and loyalty.
This research was conducted at XYZ restaurant located in Jabodetabek. The
data collection was carried out for 2 months, starting from July to August 2018. The
sample selection in this study used a convenience sampling technique with a sample
size n = 383 respondents. The data collected in this study are primary data obtained
through direct interviews with customers at the research location through the use of
questionnaires. This study uses structural equation modeling (SEM) analysis
assisted by Lisrel software. SEM analysis is based on confirmatory factor analysis
(CFA). SEM is a model of relationship structure that forms or explains causality
between factors. Information about the customer satisfaction index (CSI) and the
customer loyalty index (CLI) is also presented in this study. Measurement of the
customer satisfaction index aims to determine the overall level of customer
satisfaction by looking at the level of importance of the product / service attributes.
Meanwhile, the customer loyalty index produces a description of the relationship
between customers and the products and /or services consumed by customers.
Demographic analysis was conducted to determine the characteristics of XYZ
restaurant customers and be part of the process of understanding XYZ restaurant
market segmentation that needs to be developed in the future. The majority of XZY
restaurant customers are female customers (71.8%). In terms of age, the majority
of customers fall into the age group 17 to 35 years (70.5%). Most of the customers (59.3%) are single. From their educational background, about half of the customers
have a high school education level (50.7%). About 43.3 percent of XYZ restaurant
customers work as employees. In terms of routine expenses, 47.0 percent of XYZ
restaurant customers have expenses of around IDR 1,250,000 to 5,000,000.
Based on the results of the SEM analysis method, the RMSEA value obtained
in this study was 0.00 so that the model in this study was categorized as good fit
(RMSEA <0.08). SEM analysis not only produces model fit but also informs about
measurement model fit. The indicator variable of a latent variable is stated to be
consistent or reliable if it has a value of construct reliability (CR) ≥ 0.70 and a value
of variance extracted (VE) ≥ 0.50. All indicator variables of each latent variable
show a CR value of more than 0.70. There is not a single VE value that is lower
than 0.50. This means that all indicator variables can consistently measure the
existing latent variables.
The relationship between variables in this study can be determined by
conducting a significance test (t-test) where the confidence level used is 95%
(significance level 0.05) and a T value of 1.96. In this study, the results show that
service quality and value perceived by customers have a significant effect on
customer satisfaction variables, but product quality has no effect. Customer
satisfaction variables have a significant effect on customer trust. Customer
satisfaction and customer trust variables have a significant effect on customer
loyalty variables
Arsitektur Strategik Penambangan Terbuka Minyak Berat PT Medco E P Indonesia
Full text linkPT Medco E&P Indonesia is a national private company that has main
business in oil and gas. The company has plan to increase reserves and/or oil
production from oil sands deposits in Indonesia using open pit oil mining methods.
The strategic planning process towards implementing the new technique will be
more directed, structured and measurable if it is arranged in the form of strategic
architecture.
The Ministry of Energy and Mineral Resources of the Republic of Indonesia
has issued Decree of the Minister of Energy and Mineral Resources Number: 111
K / 11 / MEM / 2019 concerning Assignments for Open Pit Oil Mining Pilot Project
in the Rimau Work Area High Flow Area. Based on that regulation, Ministry of
Energy and Mineral Resources assigned Research and Development Center for Oil
and Gas Technology or LEMIGAS in collaboration with PT Medco E&P Indonesia
(MEDCO) to carry out open pit trials as part of exploration activities and feasibility
study on the implementation of open pit oil mining techniques in Indonesia. The
assignment became the first step for MEDCO to start a pilot project as a pioneer
company that implement heavy oil open mining technique in Indonesia.
This study has objectives as follows; 1) Identifying internal resources,
external macro factors and industrial conditions that influence the implementation
plan for the development of open pit opil mining in Indonesia by MEDCO; 2)
Identifying MEDCO's strategic foresight in open pit oil mining plan in Indonesia,
which consists of the stages of analysis (future wheels), interpretation (four
quadrants) and prospecting (strategic thinking); 3) Identifying competency gaps
between MEDCO has today and they needed in the future and; 4) Design a strategic
architecture and MEDCO program plan in implementing open pit oil mining
activities in Indonesia for 10 years starting in 2019 until 2028;
The results of internal resource identification using the Valuable, Rare,
Inimitable, Organized to Capture Value or VRIO framework show that MEDCO's
main source of excellence is the ability to maintain efficient production costs of less
than US 10 per BOE, and integration company assets, the ability to maintain efficient
production costs of less than US $10 per BOE, oil mining technology never been
implemented in Indoensia, and high competition in oil and gas industry. The results
of the competency gap analysis that is currently owned by MEDCO with future
estimates based on comparison of performance and importance scores is equal to -
0.885. The biggest gap is the variable preparation process certification, experts and
field workers to implement open pit oil mining, integration of operation production
system, IT system and e-procurement system. This research result in the strategic
architecture of MEDCO's open pit oil mining in Indonesia over a period of 10 years
from 2019 to 2028. The target for 2028 will be to become a pioneer company that
implement open pit oil mining technique with internationally certified and
standardized
Faktor-Faktor yang Mempengaruhi Nilai Tukar Rupiah terhadap Dollar Amerika dengan Adanya Peraturan Bank Indonesia No.17/3/PBI Tahun 2015
Full text linkBank Indonesia requires the public to use the rupiah in every transaction in
Indonesia. This is in line with Bank Indonesia Regulation (PBI) Number 17/3 /
PBI / 2015, which states that the use of the rupiah in every transaction can be the
key to achieving a stable exchange rate. The purpose of this research is to analyze
the factors that influence the rupiah exchange rate, analyze the influence of Bank
Indonesia Regulation Number 17/3 / PBI / 2015 on the rupiah exchange rate and
analyze the behavior of the rupiah exchange rate against shocks on other variables
that affect it.
The study uses secondary data in the form of monthly data from January
2008 to April 2019 taken from various sources, namely Bappenas, Bank Indonesia
and the Central Statistics Agency. The analytical method used is descriptive and
quantitative analysis with the VAR / VECM method. The results of the long-term
equation show that the EXIM ratio has a negative effect on the exchange rate.
Inflation has no significant effect on the exchange rate. The money supply is
negative significant to the exchange rate. Bank Indonesia interest rates (BI rate)
have a positive effect on the exchange rate. Dummy variable1, namely the
adoption of PBI policy 17/3 2015, has a significant and positive effect on the
exchange rate.
That is, the average change in the exchange rate after the policy on the use
of the rupiah is higher than the average change in the exchange rate before the
policy on the use of the rupiah. In other words, Bank Indonesia Regulation
Number 17/3 / PBI / 2015 concerning the use of the rupiah currency which is also
a derivative of Act Number 7 of 2011 concerning Currency as stipulated in Article
23 paragraph (1) states that the rupiah is a means of payment or the settlement of
obligations in domestic financial transactions is ineffective. While the crisis
conditions did not significantly influence changes in exchange rates
Tingkat Kematangan Sistem Informasi Manajemen Aset (SIMA) Institut Pertanian Bogor Versi Beta Menggunakan COBIT 4.1
Full text linkAsset management has a strategic role in increasing the income and
competitiveness of asset organizations, if managed professionally and based on
Information Technology (IT) will directly affect the reputation of an organization,
including asset management in Higher Education (PT) as a non-profit
organization. Siregar (2004) states that the use and management of assets that are
not optimal will harm the value of the potential benefits that can be obtained by
the asset itself. Asset management has stages in its implementation, one of the
important stages is good asset inventory. The process of separating assets from
what was originally managed by the Management and Accounting Information
System for State Property (SIMAK BMN) to the IPB Beta Asset Management
Information System (SIMA) was made by IPB management. According to
Quertani et al. (2008), asset management is the process of organizing, planning
and controlling asset management to optimize the potential of service delivery and
minimize risks or costs related to the lifespan of assets by using intangible assets
such as knowledge-based decision-making applications and business processes,
and is stated also by O'Brien (2008) who explains management information
systems are a regular combination consisting of brainwave, hardware, software,
netware, and dataware that manages information in an organization.
This asset separation is a form of IPB's independence as PTNbh which has
autonomous authority in managing assets that have been separated from state
assets based on Government Regulation number 66 of 2013 concerning the
Statute of IPB as PTNbh and Government Regulation number 26 of 2015
concerning the Form and Mechanism of PTNbh Funding. Changing the status of
IPB from PT Public Service Agency (BLU) to a State University Legal Entity
(PTNbh), the asset management has also changed to state assets separated by
Decree of the Minister of Finance (KMK) number 178 / KMK.06 / 2016 and
Minister of Education Decree and Culture of the Republic of Indonesia number
070 / M / 2016.
The SIMA IPB beta application is an application program used to carry out
asset management processes in a web-based IPB environment that aims to
harmonize the application of asset management policies following applicable
regulations. This beta SIMA upgrade from the previous version, but there are still
errors (bugs). This Beta Version SIMA was tested on the work unit in the IPB
environment to get feedback so that errors could be found in the SIMA, and
corrected again for future development.
The application of IT in asset management must be adjusted to the needs of
institutions to achieve these objectives, where a planning and implementation of
information technology is needed that is in line with the organization's business
plans and strategies that have been defined. The application of IT in line with the
objectives of the institution is achieved if it is supported by a good governance
system (IT Governance) which starts from the planning, implementation and
evaluation stages. For IT services to run as expected, they need to be supported by IT governance. One standard to support IT governance is COBIT (Control
Objectives for Information and Related Technology) created by the Information
Systems Audit and Control Association (ISACA), and the IT Governance Institute
(ITGI) in 1992, ITGI (2007).
This study uses primary data derived from questionnaires about the
application of information technology in the SIMA IPB trial obtained from
respondents as managers of assets in IPB and secondary data used as
complementary analyzes in the form of documents related to IPB asset
management. Data processing using MS. Excel using the Guttman scale is
converted from values 0 to 5, and concluded based on spider charts. The sampling
method uses a purposive sampling technique and guided interviews based on the
questions in the questionnaire, as well as observations to strengthen the results.
The results showed the level of TI SIMA IPB Beta Version was at level 4
(Managed) with an average maturity index value of 3.55 and a gap value of 0.84,
for PO domains at level 4 (Managed), AI domains at level 3 (Defined), DS
domain at level 4 (Managed) and ME domain at level 4 (Managed). This means
that it has been measured and integrated between the ongoing processes with
recommendations for improvement emphasized on the improvement of the
implementation of SIMA IPB Beta Version must be available by IPB
management and asset managers in the IPB environment, it needs to be
maintained and improved until it can reach level 5 (optimized) by running and
applying Best practices for the process of managing SIMA IPB Beta Version