The Indonesian Journal of Business Administration
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Evaluation of Right Issue and Optimal Capital Structure (Case Study: PT Lippo Karawaci Tbk)
No full textPT 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 restructurin
Proposed Social Media Marketing Strategy for Gaining Sales in New Normal Adaptation Era
No full textHong Kong Boulevard is a sub-apparel brand inspired by Asian pop culture's past, present, and future. Bearing the motto ""Prescription for Boredom"" this unisex sub-apparel label reimagined various disciplines from Asian city pop music albums, 90s movies to retro-futuristic aesthetic comes with pop yet vibrant color for youth culture. Currently, COVID-19 causes economic contraction globally, and Hong Kong Boulevard needs to sustain from this issue and spread their presences to abundant people in Indonesia's digital market with a social media strategy regarding their declining sales trend due the COVID-19 began to affect the business. Current company goals are growing awareness in digital platforms and gaining sales through social media marketing on Instagram as their platform introduces to a broad market and sells their products due to maximizing positive sentiments in digital channels. This research aims to identify which of the marketing strategies or activities that can be used by Hong Kong Boulevard in order to gain its sales. The marketing activities could help Hong Kong Boulevard to improve its brand awareness, especially in this digital era where Instagram could give benefits in the digital era and the new normal adaptation era. In this research, the author will use internal and external analysis of the company using SWOT matrix, STP analysis, marketing mix, consumer-based brand equity, customer analysis, competitor analysis, and Porter Five Forces analysis. In order to do some of the analysis, the author uses the in-depth interview to gain insights about customer’s perception and motivation in term of purchase fashion product in new normal adaptation era. After doing some of the research stated before, the author found that there are gaps that Hong Kong Boulevard has especially in terms of marketing. some of the proposed activities for Hong Kong Boulevard are integrated marketing communication focusing on Instagram and provide e-commerce channels for consumers purchase options. These activities will manage in order to achieve targets. Keywords: fashion, marketing strategy, social media, new normal adaptation, COVID-1
Marketing Strategy for Creative Industry (Indie Video Game) (Case Study : Pamali Game by Story Tale Studio)
No full textVideo games are a creative industry that promises high profits. In this case the video games made by Indie Studio also have the potential to generate quite high profits. In this case, Studio Story Tale with their latest and flagship product, PAMALI: Indonesian Folklore Horror, which was just released at the end of 2018, has so far released their latest content in two DLCs.This study aims to help the Story Tales Studio in knowing what factors can influence the behavior of buyers' decisions to buy Pamali games by analyzing internal factors using STP and marketing mix followed by analyzing external factors using Competitor Analysis, Consumer Analysis, PEST analysis, and Porter Five Force Analysis. The research methodology is quantitative by distributing questionnaires to respondents who like to play games to determine the factors that influence the respondent's decision to buy Pamali games.By using Multiple Linear Regression, the results show that the main factors affecting consumer decisions to buy games are personal motivation (needs) and culture (culture) followed by products, places , promotions, and Price by that using the SOSTAC framework, Story Tale Studios can implement digital marketing optimization strategies, promotion through influencers and online media, and promotion of horror culture in Indonesian culture.Keywords: Consumer Motivation, Marketing Strategy, Video Game, SWOT, SOSTAC, TOW
Market Study For Improving Market Stategy (Case Study: RA Planner Bookstore)
No full textRA Planner Bookstore is a company that introduces new nuances to the process of maintaining a daily journal, with features such as an appealing design, ease of use, and, of course, a unique design each year. In the journal/planner product, RA Planner always tries to bring innovation with a new design, new specification, or new future. This study employs both qualitative and quantitative methodologies, with the former relying on internal analysis and the latter on the distribution of questionnaires to respondents. To validate customer value mapping, quantitative methods were utilized to deliver a questionnaire to 301 respondents.This study employs both qualitative and quantitative methodologies, with the former relying on internal analysis and the latter on the distribution of questionnaires to respondents. To validate customer value mapping, quantitative methods were utilized to deliver a questionnaire to 301 respondents. Keywords: Market study, retail business, marketing strateg
PROPOSED CREATING SHARED VALUE (CSV) PRINCIPLE FOR BUSINESS STRATEGY THROUGH WORKSHOP PROGRAM IN TORAJA UTARA CASE STUDY: KURREKA
No full textToraja is popular with its unique burial culture. Every traditional ceremony and daily life of people in Toraja, couldn’t be separated from coffee. Toraja coffee is the potential to develop besides its cultural tradition that already popular. Unfortunately, natural resources like coffee plantations and processes not as famous as Toraja death ritual ceremony. Coffee is an entry point to create a new image for tourists that are already associated with graves.Kurreka is a brand formed in Toraja Utara that provides an alternative tourism journey and products based on local communities & artisans. The products represent gratitude because coffee has been an inspiration for doing creative things consciously. The collaboration value-based between designer and local to creating an ethical benefit-sharing system is for the local economy and social impact strategy to stakeholder. Kurreka is facing a problem making a sustainable ecosystem, impacting the local community, and optimizing CSR funding for a sustainable program.The purpose in Kurreka business is to create shared value for economic and social. In the implementation, Kurreka develop a sustainable ecosystem through a workshop program for communities and artisans. Kurreka provides solutions to the challenges that exist in the community in a collaborative and participatory way. Become a partner of CSR or philanthropic activities to improve the program's quality to be effective, measurable, and sustainable. Collaboration is the essential key of the community empowerment program and stakeholders involved in creating shared value.Keywords: Creating shared-value, community & artisan development, tourism, sustainable, empowerment
Investment Analysis of Carbon Monoxide Purification Plant (PPCO) Interconnection Project to Kujang 1B Plant
No full textPT Pupuk Kujang is part of the PT Pupuk Indonesia Holding group whose main business activities are the production of fertilizers. The company has 2 Ammonia-Urea factories, Kujang 1A and 1B plant, the company also has CO Purification Plant (PPCO) which takes gas feed from Kujang 1A. Problems arise when the raw material for Kujang 1A and Kujang 1B plants, the natural gas, has the potential to experience a decrease in supply. The shortage will result in the shutdown of one of the plants, which is the old and inefficient Kujang 1A plant, which will also affect the CO gas supply to PT Sintas Kurama Perdana. To improve the reliability of PPCO and maintain the continuity of CO gas supply to PT Sintas Kurama Perdana, it is necessary to create feed gas interconnection from PPCO to Kujang 1B, therefore this study aims to analyze the feasibility of the investment plan. Based on the calculation, the NPV is higher than zero, then the IRR is higher than the WACC, and the payback period is still within acceptable period for the management resulted in the project being categorized as financially feasible.Keywords: Investment project, discounted cash flow, net present value, synerg
Pharmaceutical Inventory Management Analysis & Optimization at RSKD Dadi Makassar
No full textThe increasing number of BPJS participants every year has made increasing demand for medicines that are included in the Formulary national category. These problems are mainly adding potential risk for the stock medicines. Pharmaceutical Item planning in pharmacy RSKD Dadi has been using the method of consumption. The pharmaceutical medicine used for inpatient and outpatient pharmacy, including in Formulary National and Hospital, then forwarded the procurement process to review every week. This method is not accurate because it cannot provide data on demand, stock turnover and safety stock. The use of the consumption method at RSKD Dadi based on consumption by patient and units, so when the pharmacy warehouse is running low, procurement will be carrying out. It also supported that patented and generic medicine's total inventory turnover ratio is 9.23 in 2019, still below the ideal standard of 10-23 times. Two combined systems are suitable for classifying medicines item classes with ABC-VEN classification & a continuous review system for medicine with category I. Can be concluded that hospital management can specifically make an inventory level savings potential & The hospital can raise from the actual estimated service level of 93.17% to 99.00%.Keywords: Pharmaceutical Inventory, Continuous Review Polic
BUSINESS MODEL INNOVATION FOR PT. CASAMIRAH BANGUN INDONESIA TO OVERCOME COMPANY UNSTABLE INCOME
No full textStarting as an individual business in 2012, Casamirah is an interior contractor and design company, work mostly at of food & beverage sector, such as projects for cafes and restaurants. Since 2016, corporate clients’ contributions have been dominating the total revenue of the company. Almost all the corporate clients have been returning customers and contributed significantly to Casamirah’s business. In the current business model, Casamirah main activity is as an interior contractor and design. Company main revenue is depending on how the company win over the big contract and how the project manager and all the supporting division performance to deliver the project according the budget and time agreement. These condition is contributed to company unstable cash flowThis research is conducted to find the solution of this problem. Internal and external environment company analysis have been conducted using several tools, there are PEST analysis, Porter’s Five Forces, Porter’s Generic Value Chain Model, VRIO framework and Existing Business Model Canvas. Semi-structure interview also conducted to identify and analyze the company problems and how to utilize Casamirah elements to solve the problem.Eventually the root cause of the problem is identified, i.e., lack of bargaining in corporate agreement, less marketing activities and lack of knowledge in project acquisition and development. In addressing those problem, business model innovation based on offer-driven innovation is formulated. Three relevant strategic actions are recommended for Casamirah, they are product innovation (sharing workshop & material distributor), digital marketing and social media campaign, and employee training and development program. Positives impact are expected from this strategic actions, in terms of generating new revenue sources and stabilizing company’s cash flow due to developed key activities and product innovation. The implementation of these actions is also expected to improving employee knowledge and competence due to the training and development program.Keywords: business model innovation, interior contractor, unstable cash flo
PROPOSED STRATEGY FORMULATION FOR PT. DKI
No full textDue to Indonesia’s inability to achieve self-sufficiency in soybeans production, we are increasingly relying on US soybeans imports to fulfil the national protein demand for human consumption. The diverse usage ranges from traditional tofu, tempeh, soy sauce, snacks and drinks production. Henceforth, the oilseed is also the primary source of affordable protein and has contributed significantly to the growth in Indonesia’s annual import volume. In turn, it has opened business opportunities for importers and distributors to enter into the soybeans market.Established as a family-owned business that trades physical soybeans in the West Java region, this paper intends to analyze and formulate a long-term strategy for PT. DKI as an example for the case study. In engaging with its business activities, the firm faces an array of internal and external challenges ranging from capacity constraints, size constraints and financial risks. The ultimate objective is to evaluate the prospects for diversifying related product portfolios and develop competing strategies while optimizing overall risk control and employing strategic partnerships ideas to streamline logistics processes in order to expand. Additional challenges the firm is facing in 2020 would be how the Coronavirus pandemic affected the livelihood of food-processing industries and end consumers, justifying a preemptive plan to adapt to the new business environment and shifting consumer demand. SWOT analysis is used as the primary methodology to assess the firm’s degree of competitiveness in the market and to develop the strategy matrix.To supplement the findings, trend analysis, ratio analysis, capacity analysis, risk analysis and marketsegmentation were utilized to identify bottleneck issues and assess the overall value of the firm. Theselected business and functional strategies integrate an improved business model; with the aim to overcome bottlenecks and optimize value transformation.Keywords: Soybeans, Commodities Import, Business Strateg
PROPOSED CORPORATE STRATEGY TO DRIVE SUSTAINABLE IN FUTURE BY USING HEXAGONAL RESTRUCTURING (CASE STUDY IN PT PERKEBUNAN NUSANTARA VIII)
No full textPT Perkebunan Nusantara (PTPN) VIII is a state-owned enterprise (BUMN) that has been established since March 11, 1996, PTPN VIII is a state-owned company engaged in agribusiness and agroindustry with business activities including cultivation, land preparation, nursery, planting, maintenance, management and sales of plantation commodities and optimizing the utilization of company resources amounting to 113,958 ha, which consists of two provinces (West Java and Banten). The agricultural sector itself is included in the 4 biggest industries in Indonesia, this is because Indonesia itself gets bonus topography, soil structure, and weather that strongly supports the agricultural business. At present PTPN VIII out of 113,958 ha of land that has been given by the government, there is still 47,145.11 ha that has not been productive in producing agricultural products, and it is alleged that PTPN VIII made efforts to utilize land resources by developing business towards the property business (hotels, apartments, houses) with the goal is that the land owned has added value and continues to provide benefits. Based on external analysis and internal analysis as well as SWOT analysis for PTPN VIII, that the strength of PTPN VIII is the condition of Indonesia that supports plantation business activities, but still has shortcomings in the application of technology and business processes in plantation business operations and doing business outside the plantation business in collaboration with parties three, and faced with the challenges of changing natural conditions. This research shows that PTPN VIII is in the position of a company that needs restructuring, based on the TOWS Matrix, produces several strategies which include improving corporate governance that is more focused on the plantation business, making improvements in the field of operations so that it can produce better commodities, make innovations in technology and products produced by PTPN VIII. Based on Hexagonal Restructuring there are still significant differences between PTPN VIII and competing companies, and PTPN VIII needs to sell assets owned but not related to agricultural businesses such as hospital businesses and property businesses and unproductive assets so that the cash owned can be used for the development and innovation of PTPN VIII in the plantation sector. Keywords: Corporate Strategy, SWOT Analysis, TOWS Matrix, Hexagonal Restructurin