The Indonesian Journal of Business Administration
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Implementation of total productive maintenance in pt. Ip lontar
No full textAbstract. Total Productive Maintenance (TPM) is a maintenance program which concentrates on total involvement of everyone from top management to all employees in the organization. TPM practice a maintenance program by doing training, Autonomous Maintenance and 5S (Sort, Set in order, Shine, Standardize, Sustain). This program expect to the result in maximum Overall Equipment Effectiveness (OEE), tidier, neat, clean work place and morally boosted employees. This research was compiled based on qualitative methods by conducting interviews with top management, middle management in the company and customer. In-depth interviews were conducted to explore how the opinions of respondents regarding the implementation of total productive maintenance. From the results of interviews and literature studies, There are four recommendation that propose to PT IP Lontar for successful of TPM Implementation. Establish TPM Implementation team, OEE of equipment become employees KPI, Communication and promotion about TPM activity, and People development. In the end, if total productive maintenance has been implemented effectively, the company can reduce cost of maintenance and improve reliability of each equipment because it has a strong foundation in the form of structured maintenance system.Keywords: derating, total productive maintenance, employee involvement, OE
Strategy Development Towards Disruptive Technology Phenomenon: PT. Tirta Indra Kencana, Company Case
No full textAbstract. Digital technology is cannot be separated from human life. Nowadays most of the human activities are using a smartphone. Related to hobbies or commonly called digital lifestyles, such as playing games, watching videos, and listening to music can easily be accessed using a smartphone. Based on Annie's app in 2018, Indonesia ranks first as the country that uses the smartphone for the longest time. using a smartphone with an average of 4 hours of smartphone use a day for playing games, watching videos, and listening to music can easily be accessed using a smartphone. This circumstance becomes an opportunity for telecommunication companies to support Indonesia's digital lifestyle improvement by providing services and product related. Listening songs with music streaming on smartphones are the largest mobile activity in Indonesia. However Telkomsel have music streaming product, Langit Musik as a Indonesia music streaming application, is still facing a difficulty on acquiring and maintain their users where monthly active user for Langit Musik from App Annie in 2018 shows that the monthly number of active users of Langit Musik for 6 months dropped from 400,000 users to 155,000 users and the position of Langit Musik application among the competitors is the lowest. To analyze this problem, there are several analysis that has been done to analyze the current condition of Langit Musik. The first step is to analyze the internal condition of Langit Musik, second is to analyze the external force of the company. Next, is to analyze the Langit Musik problem using thematic frames work; Customer Journey to analyze for the Customer of Langit Musik and The Five's Analysis for those who have not used the Langit Musik Application. This analyze is done by conducting a questionnaire and observation during the internship period and discuss with the product development manager.KEYWORDS: Langit Musik, Customer Acquisition, Customer Retention, Customer Journey, Marketing Strategy, Music Streaming, Telkomsel,
Predicting Financial Distress and Financial Performance Analysis of PT Bayan Resources Tbk.
No full textAbstract. PT Bayan Resources Tbk. is a producer of environmentally friendly low sulfur, sub-bituminous and semi-soft coking coals integrating coal mining, processing and logistic operations. Since established. PT Bayan Resource Tbk. Continuously expand its business by acquiring a number of new coal concessions. In the past 3 years PT Bayan Resource Tbk net profit is decreased drastically and even suffer loss in the fiscal 2013 and 2014. Based on probability of default analysis using Altman Z-score bankruptcy model, PT Bayan Resources Tbk in 2014 they already in the “Distress†zone (Z’ < 1.23). If PT Bayan Resources Tbk performances keep declining, they will facing in financial difficulties and will bankrupt in the future. This study proposes four business solution to mitigate the current problem. Which are reducing the stripping ratio to reducing the cost of production, increase the domestic market share by improving the marketing and external relation so they can get the tender to increase selling coal in Indonesia and to increase the revenue, cost Efficiency by improving the mining equipment utility and technology and also by using differentiation strategy, which is, build a new power plant to get the revenue not only from selling coal, but from selling the electricity to PLN or another entity. Keyword: Coal Mining, Financial Distress, Business Strategy, Financial Performance, Financial Analys
Developing business strategy at pt proflexy in the global competition
No full textAbstract - PT PROFLEXY is a leading manufacturer of flexible packaging as one of the most important global player in the flexible packaging industry. Since periode year of 2010 to 2014 the company faced situation that the gross profit stagnant although the sales revenue is increased. The most of PT PROFLEXY profit is generated by sales revenue. Base on to the financial report that company have the sales revenue of 60% to the local demand and 40% to the export demand. This target applied by the company remaining that the local demand most generated the profit than the export.But since 2010 the local marketdemand isin saturation market which caused by the global condition in currency depretiation. Regarding to this situation then PT PROFLEXY expand their sales by penetrating potential new markets in Asia, America, Europe, Australia and America. But the strategy is not succesed yet to increase the profit as expected because in point of view the writer that the company has not properly in selecting, targeting and positioning to get the economics operation in competitive global market. In this research the writer propose and recomend the company that tobe a winner in global competition have to do the 3 (three) steps. The first step is company should have and analyse their strength.The second step isthatcompany should have selected the economicsmarket destination by considering in several factors such as GDP, WGI dan LPI, Tax and Duty. These factors are represent of the power of global buyer, situation & conditions and transportation facilities in each countries destination without ignoring the bilateral and multirateral organization such as WTO, AFTA, etc.The third step is when the destinations are determined then the company should compete in 4 arena of hypercompetition. Base on to this reasearch, finally the writer propose to reprioritize and focused in selected country refer to the company strength to get the profit increasing. Keywords: Sales revenue, Profit, company capabilities, world indicators, hypercompetitio
Nari's strategic alignment in entering indonesia power development project
No full textAbstract. This paper explores the marketing issues in order to propose a feasible marketing strategy in promoting NARI’s sustainable market development in Indonesia. In the analyses, SWOT and PESTL are used to identify and analyze the macro and micro environment of NARI’s market opportunity and conducted a comprehensive review on the market environment that may affect NARI’s core business, such that the issues can be clearly identified and recommended solution to resolve the issues can be formulated. The analysis based on the marketing condition of NARI, the marketing model is developed with a systematic mapping tailored to NARI’s brand strategy, product strategy, project strategy, management strategy and development strategy. The strategy analysis and evaluation suggested NARI to conduct a in depth and comprehensive analysis of Indonesia's electricity power market and grab the business opportunities. In current fierce and quick changing market environment, NARI needs to increase its market share by applying the innovative marketing strategy and build strong brand to meet customer expectation.Key word: Marketing, NARI, PESTL, Strategy, SWO
Business model development for orphan drug business in indonesia (case study: idiopathic pulmonary fibrosis drug)
No full textAbstract. The growth of pharmaceutical business has slowed due to some reasons, such as patent expiration, generic, drying pipelines, and stricter regulation of drug approval. Many market leaders will lose their patent in next 5 years. Considering those situations, pharmaceutical companies have shifted their focus from developing and selling essential medicines to new business model of orphan drugs, which is niche but expected to help company reducing the revenue loss. This new segment could offer an integrated healthcare solution through development of new area of therapeutics, diagnosis, treatment, monitoring, and patient support. Orphan drug is a product which is indicated for a rare disease. Definition of rare disease in Indonesia is a disease with case number less than 200,000 total populations. Lack of physicians’ awareness and high drug cost are the main challenges in developing orphan drug business. Implementation of Jaminan Kesehatan Nasional (JKN) program has changed Indonesian healthcare landscape drastically. The objective of this study is to propose a new business model canvas for an orphan drug business in Indonesia, by using Idiopathic Pulmonary Fibrosis drug as case study. The analysis of external factors will be done through PEST (Political, Economic, Social, Technological), Porter's 5 Forces and competitive analysis. The internal analysis will use VRIO and value chain analysis. The results of those internal and external analysis will be used to identify SWOT, develop TOWS matrix. Porter Generic Strategy and Diamond Strategy model to identify new ideas and strategies for the company. After identifying some options of business strategy, author will create and propose a new business model canvas for the company. Author will use qualitative research method by collecting data through interview and observation. The author has identified and assessed that the firm has not optimally used their internal resources and capabilities to create innovative strategies and to achieve sustainable competitive advantages. Author recommends management of the firm to reorganize their team, then to equip the new team with updated knowledge on orphan drug business. The firm should also optimally use global resources and capabilities to build orphan drug business and to develop effective digital platform. They should initiate unique partnership with multi stakeholders, especially with government and patient organization to shape public policy for orphan drug. Keywords: business strategy, business model, multinational pharmaceutical company, orphan drug, rare diseas
Development strategy to optimize the economic return of a marginal oil field: a case study of pt. Drilling sentosa
No full textAbstract – PT. Drilling Sentosa, an independent upstream oil and gas company, currently faces a challenge whether the development of X Field will increase the company values and survive under low oil price environment. The objective of this paper is to evaluate risk and economic value of the field and propose development strategy to optimize the economic return of the project. Business issues are analyzed using PESTEL analysis, Porter’s 5 Forces and SWOT analysis. Economic and risk evaluation are performed using deterministic discounted cash flow analysis, sensitivity analysis and monte carlo simulation. Monte carlo simulation is conducted using four uncertain input variables: oil price, production forecast, CAPEX and OPEX. Oil price and production is modeled using stochastic process of mean-reversion model and log normal distribution, respectively. While beta distribution is selected to represent the uncertainty of CAPEX and OPEX. The development strategy is proposed based on the optimum project timing that yields higher economic return. Based on DCF, the field should be abandoned at the economic limit in the eighth year. Based on the development scenario, the project is recommended to be accepted with the Net Present Value of MMUSD 4.39, Internal Rate of Return of 30% and Pay Out Time 36 months. And the maximum loss over a project life at confidence level 95% is MMUSD 7.74.Keywords: discounted cash flow analysis, marginal oil field, monte carlo simulation, sensitivity analysi
Determining natural gas business strategy in indonesia through scenario planning , a case of pt. Pertamina gas
No full textAbstract. The LCT states optimal dividend policy of a firm is dependent on its LC stage. Mature firms have decline in investment opportunities, reduced cost in raising capital and growth rate enabling firm to pay dividends, unlike young firms. The purpose of this research is to create a search strategy to help investors choose optimal dividend-paying stock listed in LQ45 Index using 2 scorecards. Descriptive research uses secondary data from audited financial reports of 17 selected firms that qualified for 10 listings in LQ45 Index from the year 2013 to 2017. DPR scorecard use factor DPR and LCT scorecard use weighted factors: Liquidity (Cash/TA, weight 1), Profitability (ROA, weight 2), Life Cycle (RE/TA, weight 2), Maturity (RE/TE, weight 1) and Leverage (LTD/TA, weight -1) to show effect on firms’ decision to pay dividends and payout level. Scorecards’ sequenced 17 stocks from lowest (rank 1) to highest (rank 17) 5yr w.a. value. Rank 17 has highest propensity to pay dividends and payout level and vice versa for rank of one, thus ideal stock pick have high ranks in both scorecards. Result show UNVR ranking 14 in LCT and 17 in DPR scorecards as ideal stock pick. UNVR has highest propensity to pay dividends and maintained high payout level, thus optimal dividend paying stock for long-term investment. EIC analysis conducted shows UNVR risk to increased cost of raw material and debt level. UNVR should deleverage and eliminate non-performing segments to increase its stagnant profit. Firms’, investors and future researchers can apply scorecard on other indices using 10-yr analysis to compare sectoral trends and select dividend stock listed in other indices of IDX. Keywords: Dividend Policy, Dividend Stocks, IDX, Life Cycle Theory, LQ45 Inde
Understanding Online Customers' Shopping Behavior and Driving Factors in Choosing Payment Options with Case Study in JABODETABEK Area
No full textAbstract – E-commerce has been a phenomenal trend in Indonesia. There are a lot of traditional businesses have been transformed into e-commerce business. However, security issue is considered as a main barrier for this growth. In this research, the study is conducted to understand customers’ behavior and payment preference in e-commerce and how the perception of security towards payment option changes their expectation. The payment options studied in this research are based on current available payment options in Indonesia. The samples are gathered from Jakarta, Bogor, Depok, Tangerang and Bekasi areas by using online survey. The data gathered are related to information demographic (sex, age segment, marital status and socioeconomic status), online shopping behavior (shopping frequency, actual payment preference and payment expectation) and online payment transaction (perception on payment option, consideration factors in choosing payment option, priority factor in choosing payment option and perception on security in online shopping). After that, the data is grouped within certain categorical variables (segment demography, payment options, product categories, perception of payment, actual payment preference and payment expectation) and presented in contingency table. The presented data is mainly in the form of frequency distribution, proportion distribution and median value (for perception on payment option). Finally, the result is analyzed using contingency analysis. In understanding customers’ tendency to shop online, this research develops likeliness index based on weighted average of respondents’ shopping frequency. Likeliness index is used to compare customers’ tendency to shop online in different product categories. In understanding customers’ payment behavior, the proportion of actual payment preference is compared with the proportion of payment expectation. The same comparison is also analyzed for respondents who prioritize on security in order to understand the influence of security factor to customers’ payment behavior. In understanding the influence of customers’ perception towards payment option to their payment expectation, the median value of perception towards payment option is compared to the proportion of payment expectation. Last but not least, this research also analyses customers’ concerns towards security issue in payment by taking median value of worries rate towards security in online transaction and compare it with their awareness on security issues. This research finds that some product categories have higher tendency to shop online than the others. This will influence the pace of transformation from traditional business into e-commerce business in different product categories. This research also finds that different customers’ segment have different payment expectation in different product categories. Hence, e-commerce industry should adapt the availability of payment options to different target customers in different target market. Considering the influence of security factor, this research finds that customers who prioritize on security have more preference and expectation towards certain type of payments in shopping online. However, this research cannot find the relation between customers’ perception on payment option itself with their payment expectation. This means that the perception of security and convenience of online transaction is not attached solely on the type of payment alone. Attaching other factors, such as product category and e-commerce website, is suggested in future research. There are also several other factors in considering customers’ payment choice, but the percentage is far less significant. Overall, customers are actually aware on many issues of security in online transaction, but it is not significantly worrying that could restrain them from shopping online. Keywords: e-commerce, online shopping, online commerce, online transaction, online paymen
Aligning Employee Competency in Achieving Corporate Goals to Compete with Another Agencies
No full textAbstract - This thesis research is aim to analyze the current situation both internally and externally of PT Komunikasi Maya Bestari (Communicaption) and preparing the employee competencies in achieving corporate goals to compete with another agency. Communicaption as a new start-up agency that has been established since 2011 nowadays need to compete in this rapid competition among digital agency in Indonesia. Indonesia, as the 29th position among all countries and 6th position in South East Asia or internet penetration consider that digital industry now raise significantly. Around 51% of Indonesia population are active using internet and Indonesia get 3rd position of social media growth rank among all countries (Wearesocial.com, 2017). The internet usage also made an impact for corporate to promote their brand through digital tools such as website, social media, mobile-apps and so on. This thesis is focus on finding various things to be improved to preparing and aligning employee competencies with corporate goals. Using various method such as workload analysis, competency analysis, IFE-EFE matrix, CPM matrix and SWOT analysis, researcher find out that Communicaption has some obstacle in their internal aspects, however they have various strengths in running their business. Researcher give various suggestion and activity recommendation to support its management in aligning employee competencies to achieve corporate goals. Keywords: employee competency, corporate goals, digital agency, industry competenc