The Indonesian Journal of Business Administration
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Proposed Business Strategy for New Business in Muslim Fashion Industry (Case Study: QUIN)
No full textIn the era of a competitive market, starting a new business might be demanding and challenging. A company can have a low position in an attractive industry and better than a company with the right place in an unattractive industry. Indonesia is the top three countries with a massive expenditure on Muslim apparel. The popularity of Muslim fashion and hijab in Indonesia has shown a significant increase (Global Business Guide Indonesia, 2016). QUIN is a newcomer in fashion industry from Bandung that engaged in the textile trade for the Muslim hijab in Indonesia. QUIN offers a product that elevates religious values combined with an element of beauty. The increasing number of hijab brands, a massive amount of fabric suppliers and vendors is one proof of Bandung as a potential city to start a fashion business. To build a new business, QUIN needs a proper business strategy due to the high competition in Muslim fashion industry in Indonesia. This paper analyzed the external environment through Customer analysis, Competitor analysis, and Porter's Five Forces analysis. Meanwhile, the internal analysis uses analysis of the Business Process and VRIO analysis. Based on internal and external analysis, Value Proposition Canvas and Business Model Canvas are used to develop the appropriate business strategy for QUIN. Keywords: Business Model Canvas, Hijab Industry, Moslem Fashion, Proposed Business Strateg
INCREASING EMPLOYEE ENGAGEMENT THROUGH REDESINGNING WELLNESS PROGRAM IN PT. BIOFARMA
No full textThe Ministry of State Owned Entreprise (SOE) has evaluate the performance of SOEs through KPKU scoring. One of the element of KPKU is Work force Engagement, which has the same term of Employee Engagement. The Process of Employee Engagement score is still low which is 55% and the Work force Focused Outcome also which is 45%. Biofarma has the wellness programsas starts from 2015. Which has a little attention from employees, the participant decreases each year. Meanwhile the wellness program is one of some k ey drivers of employee engagement. Researcher took sampling in Directorate of Production as it has majority of total employees in Biofarma and has more difficulties implementing wellness program.Quatitative method explained that the Based on the calculation on wellness and employee engagement measurement, the average is 60% but the wellness in Biofarma still below average 51.95%. And the employee engagement is still on average position which 6 6%. The wellness itself affects the employee engagement as mch as 27.8%. While the qualitative methods explains he best alternative solutions to the problems experienced by Biofarma related to wellness programs are improving the lowest program utilization by employees, collecting the utilization data properly and define the right measurement for the key matric in each aspects. When those steps are fixed, then company start to track the wellness program progress through Key Goal Visual Focus Chart. Then break down it to leader achievement 2 days. In terms of leadership, find the wellness leader who has transformational character and type of leadership touches. Do not choose the leader by the job position. Give more understanding to the employees about managin g all of the aspects through the training. Then plan and implement the new program use HERO Scorecard as benchmark .Key Words: Employee Engagement, Wellness Program, Wellness Utilization Measuremen
FINANCIAL FEASIBILITY ANALYSIS OF SUBSIDY HOUSING PROJECT INVESTMENT IN MAJALAYA
No full textMega Regency is a family-based company engage in the property development and property advertising. Mega Regency was offered the cooperation from the landowner in Majalaya to build the housing estate. To take advantage of this opportunity, Mega Regency makes a housing project plan. The main objective of this research is to make the financial feasibility of the project cooperation, the variable that could affect significantly to this project, and project return in several scenarios. Structured interview was conducted with the community around Majalaya to find the preference. Interview was also conducted to the company and landowners to collect the data. The result of this study indicates the project is feasible as financially. This project generates a Net Present Value of IDR 1,161,927,392.89, an IRR of 33.15% and a Payback Period of 1 year and 3 months. The variables that affect this project are sales, development cost, and average weighted cost of capital.Keywords: Subsidy Housing Project Analysis, Project Financial Feasibility, Discounted Cash Flo
Proposed Service Innovation in Digital Wallet using Service Science Perspective (Case Study: bjb DigiCAsh by Bank BJB)
No full textIn today's digital era, everyone prioritizes speed and convenience in making transactions. One of the digital innovations present in this era is server-based e-money, better known as digital wallet/e-wallet. The use of digital wallets continues to increase, making every company engaged in this field must continue to innovate to gain a competitive advantage.Bjb DigiCash is a digital wallet, one of the digital products from BJB Bank. The number of bjb users continues to increase.However, the number of active bjb digicash users is still far from expected, with only 36.7% of the total number of bjb digicash customers who actively use this application as their payment instrument. This study aims to determine the cause of the problem of low customer experience for bjb DigiCash so that they do not actively use it and find innovative solutions to these problems that suit customer needs. Therefore, the researcher will conduct in-depth interviews with the management of bjb DigiCash to find out deeper problems and the current state of business and service activities of bjb digiCash. Moreover, conduct in-depth interviews with customers to determine what they want and need to continue using bjb DigiCash as their payment instrument. The researcher also conducted a Failure Mode and Effect Analysis (FMEA), 5 why's Analysis, and a value co-creation and orchestration platform to identify service and product innovations that bjb DigiCash could carry out. Finally, using the weighted decision matrix to find out which innovations are the best, functional and in accordance with current customer needs. Keywords - Digital Wallet, Service Innovation, Value Co-Creation and Orchestration, Failure Mode and Effect Analysi
Proposed Marketing Communication for KAI Access Application Based On Consumer Product Knowledge
No full textA mobile application is one of the major approaches that many service companies obtained to provide convenient service for the customers. PT. KAI (Kereta Api Indonesia) tried to make their services more accesible by releasing a mobile app called KAI Access. However, it was initially found that only 40% of KAI customers use the mobile application. This study aimed to identify the current knowledge of KAI customers about KAI Access mobile app using AIDA model (Attention/awareness, Interest, Desire, and Action) and to find out the gap between product knowledge and consumer attention. This study used quantitative research and was conducted by collecting primary data by using a questionnaire. 400 respondents were selected as research sample representing the staggering 2.409.000 active customers of KAI services. The result of gap ranking demonstrated the priority sequence on the mobile app user interface, supporting factors for customers to use the apps. This finding suggests that PT. KAI must develop the application to be visually attractive, easier to use continuously updated, and most importantly, to be more recognizable and interesting for KAI customers by providing adequate socialization and promotion by coordinating all the IT, marketing, and product distribution department.Keywords: KAI Access, marketing, mobile application, product knowledge
PROPOSED DIGITAL MARKETING STRATEGY TO CREATING BRAND AWARENESS FOR NEW BRAND ESTABLISHMENT (CASE STUDY : YUGEN)
No full textThe Indonesian Creative Economy has good potential with extraordinary economic value, this economic growth is supported by the increasing number of companies from various industrial sectors. This can be seen from the data from the Indonesian Creative Agency (BEKRAF), it is noted that the fashion industry is in the second largest rank of 18.15% after Culinary 41.69% in Indonesia on 2018. Over time, the necessity of fashion is influenced by the large human population in Indonesia. Judging from the high demand for fashion every year in Indonesia, it opens up great opportunities for YUGEN to try to take advantage of opportunities to enter the world of the fashion industry. However, with so many competitors making YUGEN have to find the best strategy to develop in the fashion industry, this study aims to find the right marketing strategy to be implemented in the company to create brand awareness that will increase future sales. By analyzing internal and external factors as the first step in this research, using several methods to analyze internal factors, namely Segmenting, Targeting, Positioning(STP), and Marketing Mix (4P). Meanwhile, the external analysis uses three methods of Consumer analysis, Customer analysis, and Proter's Five Forces. For data collection, YUGEN uses quantitative and qualitative methods by distributing questionnaires which are represented in numerical form (Qualitative), which will then be described using detailed ideas and insights (Qualitative) so that readers can see the meaning of these numbers.Keyword: Fashion Industry, Marketing Content, Digital Marketing, Create BrandAwarenes
Data Quality Assurance Improvement for Commercial Segment at PT Bank XYZ
No full textBank XYZ Wholesale Credit Operations Bandung (WCOB) are faced with the challenge of dealing with ever-increasing amounts of data. Provision of quality data is essential to support business decisions and reports to SLIK (Sistem Layanan Informasi Keuangan) by OJK as regulators. This research will focus on Commercial segment which is 65% of the total bank wide portfolio. With such a large portfolio, of course accompanied by a very large risk of errors in data. Error data can cause various types of loss for Bank XYZ both in Operational risk, legal risk, reputation risk, and financial risk (fines sanction by OJK). Currently, there are still a lot of Debtor data errors that arise at Bank XYZ, this has the potential to result in substantial fines from the OJK, which will harm Bank XYZ. The root cause of the problem is identified by using CRT. The Data Quality Assurance (DQA) error rate is caused by the internal system which not yet qualified and the Employee lack of knowledge. The important part which affects the appearance of data errors is the first input of data in the system. If the PIC did not input data accurately, and complete, or even did not filled in the system, then it will cause an error data. This problem caused by the PIC who still doesn’t have a risk awareness, and that is because they still lack of knowledge. Thus, if the system not yet qualified; no validation system, which can detect blank data, and ‘anomaly’ data, it will also cause a potential error data. With the ‘Done Right at the First Time’ approach, the author proposed several solutions; for the system is upgrade internal system (IPS) by implement Poka Yoke method, and for the employee is through employee training and development, and implement reward and punishment system. By implement these solutions, using pessimistic scenario it is estimated that the error data will decrease by 27% and also estimated to decrease in potential fine sanction as much as IDR 112 million, and by optimistic scenario it is expected to decrease error data by 78% in the future and it is estimated to decrease fine sanction as much as IDR 226 million.Keywords: Data Quality Assurance, Banking Data Reporting, Current Reality Tree, Poka Yoke
IMPLEMENTATION OF ECONOMIC ORDER QUANTITY (EOQ) AND OPTIMAL VALUE INVENTORY LEVEL TO IMPROVE CASH CONVERSION CYCLE (CASE STUDY: PT. WISMILAK INTI MAKMUR TBK.)
No full textPT. Wismilak Inti Makmur Tbk. is one of the biggest cigarette company in Indonesia. This company was established in 1962 at Surabaya. The current condition of this company has relative decreasing in the financial condition. However, this company has a problem with the value of Cash Conversion Cycle. Cash Conversion Cycle is an indicator that describes the ability of companies to convert their cash into goods or inventory to be sold or converted back into cash. By using the cash conversion cycle, it can measure how quickly and efficiently a company extracts cash from operations and we can find out how efficiently a company manages the operations. A short number means that the company has a positive cash cycle and is efficiently managing operations ,and the longer number indicates the negative cash cycle and uneffecient when managing the operation.Based on the issues that occurred with PT. Wismilak Inti Makmur, the condition of the company's cash conversion cycle is far longer than the average industry. This indicates that the management of company's working capital is not optimal when compared with the industry average. The high inventory value causes the high value of the average age of inventory. It is impacting on the calculation of the cash conversion cycle to become longer. Therefore, the author optimizes the value of inventory. The optimization using two methods which are the Economic Order Quantity (EOQ) and the Optimal Value Inventory Level. The results of the EOQ calculation, a company can minimize raw material based on the order period, which are 12 times a year. In one order, the company needed 667,823 kg of raw materials for the company's needs for 30 days. To overcome excessive demand while using the EOQ system, companies must consider the safety stock of these raw materials. From the calculation, a total of one order was obtained after the safety stock was added, namely 822,964 kg or equivalent to 36,484,733,485 rupiahs. Then, at the end of recording the balance sheet end of the year, inventory from raw materials is reduced become 36,484,733,485 rupiahs. The company's total inventory after using the EOQ system was 217,849,982,827 rupiahs, from the previous 652,607,842,394 rupiahs.Based on total inventory values after calculating the EOQ system, it shows significant changes. The average age of inventory decreased significantly to 82 days from 247 days. This decrease has an impact on the cash conversion cycle to 53 days compared to before using the EOQ method, which is 217 days.Therefore, the author recommend PT. Wismilak Inti Makmur to use the EOQ method to run its business. So, the company can improve company performance of working capital optimally.Keywords: Working Capital Management, Operations, Average Age of Inventory, Cash Conversion Cycle , and Economic Order Quantity (EOQ
Designing Talent Management System For Increasing Employee Motivation At PT Dirgantara Indonesia
No full textTo face world / global competition, the development of Human Capital must be a major concern. The Government of the Republic of Indonesia, puts HC development towards the technology & information era as the first priority in the 5 Priorities for 2019-2024. The HC development program is also a top priority for the Ministry of BUMN, especially in training the workforce and maintaining quality talents in Indonesia as well as creating an inclusive environment for talent in leadership. This is also in line with the BUMN Defense Industry cluster in the HC sector, namely forming ""Human Capital Excellence"". In addition, a talent management system is needed by PTDI to carry out and achieve the company strategy set forth in the 2020-2024 RJPP and subsequent periods. PTDI has experienced delays in the regeneration process resulting in age and competency gaps so that acceleration is needed in talent development so that the leadership relay can run well and sustainably. For this reason, strategic steps are needed in developing human capitals, especially the talent management system, which includes the talent management business process, mapping and analysis of assessment results, succession planning, and talent development programs at every level from the lowest job target position to the Director (BOD) job target. The talent development program consists of the Company's internal development program through job assignments, internal mobility, and coaching & mentoring as well as talent development through the intercompany external coach program through the Defense Industry cluster and the Indonesian Institute of Defense & Technology (IIDT)Keywords : competency gaps, accelerations, talent management systems
Optimal Formation Portfolio: An Analysis Using the Markowitz and Single Index Model for IDX30 Stock Period (2016-2021)
No full textThis research paper aims to evaluate the performance of the stocks listed in the IDX30 throughout five years (2016-2021). The evaluation of the IDX30 stocks is done by analysing the value of each stock through its risk and return to then bring forth an optimum portfolio. In order to come up with an optimum portfolio, the evaluation of the 17 stocks can be calculated through two methods which are the Markowitz Model and the Single Index Model. The findings of this research show that the Markowitz model produces 16 portfolio simulations with one optimum portfolio: Portfolio 2 with a return of 17.68% annually, and a standard deviation of 18.65%. The Single Index Method produces a portfolio with a return of 33.6% annually. Through this research, it can be deduced that as the Single Index Method evaluates more stocks, it also conveys better overall performance than the stocks evaluated by the Markowitz Model. However, the findings also convey that the calculation of the return presented by both Markowitz and Single Index methods is higher than JCI, hence showing that stock performance is more secure and less penetrable within the risk-free market.Keywords: investment, portfolio, return, risk, Markowitz, Single Inde