The Indonesian Journal of Business Administration
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Proposed Improvement Strategy for Gold Installment Product of Bank Syariah Mandiri (Case Study at Sub Branch XYZ)
No full textAbstract. Bank Syariah Mandiri (BSM), the largest Islamic bank in Indonesia, has launched Gold Installment Product in March 2013. This product is included in the category of consumer financing with murabahah (sale and purchase) scheme. Gold Installment is a complementary financing gold-based products previously owned by BSM namely Gold Pawn.Internal data shows portfolio of Gold Installment in BSM Sub Branch XYZ is still considered very low. In the year of 2013, it accounted IDR100,905,706.77 of the total financing portfolios of IDR91,072,965,069.37. Meanwhile, in 2014 it amounted to IDR802,547,002.95 of the total financing portfolios of IDR43,735,597,055.89. This final project is intended to conduct an analysis of Gold Installment Product as new financial products in general and its connection with the Gold Installment financing portfolio in Sub Branch XYZ Gold which is still very low.In the meantime, external analysis using PEST, Porter's Five Forces, and Customer Survey has been carried out. Furthermore, internal analysis using financial analysis, analysis of marketing, analysis of human resources, analysis of risk, SWOT analysis, product analysis, and analysis of performance. The analysis concludes that the root causes of the issue related to low achievement of Gold Installment are product feature that is not in accordance with public expectation which is still too expensive, quantity and quality of human resources, as well as insufficient promotion.As the recommendation business level and functional level strategy has been identified. In business level, BSM should re-identify the strategy and deliver Cost Leadership Strategy as the business level strategy of Gold Installment. Meanwhile, for functional level, several activities should be carried out include product improvement, price adjustment, promotion program improvement, after sales service program, and human resource development. Furthermore, Improvement strategies for financing products Gold Installment done in two stages which are the improvement in Sub Branch XYZ is internal improvement and external improvement in general in BSM with proposals related to the product owner is Pawning Division (PWD).Keyword : Islamic Banking, Financing, Murabahah, Gold InstallmentÂ
The Business Model Development of PT Cahaya Majumedika
No full textAbstract.Medical Equipment Industry potential is very attractive currently. With support by Indonesia Government will increasing the growth of this industry. Running a medical equipment industry is require professional management and competencies to move forwards the growth phase. With ten years experience in this business, PT Cahaya Majumedika still only capturing West-Java and Bangka-Belitung markets area while the younger competitor has fast growth compare to them. It is important for PT Cahaya Majumedika to understanding their business model in order to keep sustain in this industry. This research is to analyze PT Cahaya Majumedika business in West-Java and Bangka-Belitung and the analysis result will become cornerstone and expected to lead for an appropriate business model. This research used related theories to business model and strategic management for literature review and qualitative research methodologies to collect primary data. Field Observation and in-depth interview with relevant experts with commissioner and sales marketing manager were conducted to understand intangibles data. Based on root cause analysis and questions at in-depth interviews, slow growth of PT Cahaya Majumedika business is caused by lack of business model understanding. From Generic Competitive Strategy, PT Cahaya Majumedika should keep focus on differentiation strategy by providing premium products and making innovation of their services and performance. With Business Diamond Strategy, PT Cahaya Majumedika should develop their products with adding disposable products to have continuesly order from customer. Broadening its service innovation, Build strong brand image & awareness, and Broadening channels and geographics arenas in Indonesia are also solutions that given from using Business Diamond Strategy. While on Business Model Canvas used as a tools and described more detail for company’s new innovative strategy.Keywords: Business Model, Medical equipment, Supplier, Business Model Canvas Â
Proposed Marketing Strategy For Tempo Newspaper On Facing Digitization Era
No full textAbstract.Indonesia has a rapid growth of internet users. Moreover, technology development makes newspaper industry should adapt with the situation. Tempo Inti Media is one of the leading media industries in Indonesia, which has long served its readers with the news from Tempo Newspaper which has uniqueness in journalistic style; tend to criticize sharply and straight to the point. Nowadays, as a part of Tempo Media Group business line, Tempo Newspaper entering the phase where the newspaper sales are declining, but in the other hand Tempo.co as an online news source has a massive growth.External and internal analysis was conducted to determine consumer behavior and the impact and implications of technology for the newspaper industry, especially the Tempo newspaper. It also conducted a field study to determine the level of importance and the quality performance of Tempo Newspaper, Tempo Website, Newspaper Competitors and Competitor Websites from a consumer standpoint. The outcome of the field study is also used to make Importance-Performance Matrix (IPM)to know the variables of Tempo Newspaper that need to be improved.The results of the analysis of field studies, it is known that some of the variables of Tempo Newspaper can be improved but overall Tempo should slowly move into the online platform because of the perspective of customers, today newspaper is considered unable to meet consumer needs for update news. Besides, it should also focus on improving Tempo website because based on the field study to Tempo Newspaper readers, although customers prefer to read through online media, but not necessarily readers will open Tempo website because there are other competitors who offers better quality than Tempo website.The proposed improvement quality of Tempo Newspaper and Tempo website is expected not only to increase the newspaper revenue but also to add customers interest to access Tempo website so has competitiveness of its competitors.Keywords: Tempo Newspaper, Tempo website, quality, consumer behavio
Strategy for Maintenance Cost Effectiveness of Fixed Plant Assets by using Life Cycle Cost Analysis and Monte Carlo Simulation to Achieve Production Targets of 2015 – 2021 at The Coal Processing and Handling Division
No full textAbstract.The objective of this research is removing under performances in coal flow process at CPHD division KPC to achieve production target by using cost effective maintenance strategy. Performance gap analysis for existing eight assets during first quarter 2015 reveals that three assets running in below performance against the target. Therefore, the research focuses on the three failure assets. There are two alternative strategies, do nothing or upgrade.For both strategies are developed by using Monte Carlo Simulation to estimate reliability of the assets and Life Cycle Cost (LCC) model to find out annual cash outflow respectively during the life time of the assets, 2015 until 2021, the end of Coal Contract of Work (CCOW). Finally, Net Present Cost (NPC) analysis is developed to find out the lowest long term cost of ownership for both strategies. KPC produce three types of coal quality; 1) Prima, 2) Pinang and 3) Melawan since the beginning of production in 1991. Since 2013, KPC had been producing only the last two coals, because Prima coal reserve naturally diminished.The failure assets will cause the KPC unable to achieve the production target at the end of 2015 which amounted to 2,149,002 tons. The failure of asset is primarily because the existing assets were not designed for pinang and melawan quality, this leads to higher breakdown maintenance which will decrease capability of assets to perform its function.The result of the research recommends that CPHD should upgrade the failure assets to accommodate pinang and melawan coals. Therefore, KPC is able to achieve the production target of 2015 until 2021.Keywords: Cost effective maintenance, LCC, Monte Carlo simulatio
Impact of the Implementation of Mining Law Number 4 Year 2009 and Minister of Finance Regulation Number PMK - 6/PMK.011/2014 Regarding Export Duty and Export Duty Tariff to PT. Freeport Indonesia
No full textAbstract. This final project is regarding the curiousness of the author on the sustainability of PT Freeport Indonesia (“PTFIâ€) if the new mining law, Law Number 4 Year 2009 and its implementing regulation, Minister of Finance Regulation No. PMK - 6/PMK.011/2014 are enacted. The reason is, the implementation of the above law and regulation required PTFI to spend huge amount of money to establish a new purification company (in PTFI’s case is Smelter Company) and also disallowed PTFI to export its product. Since this is impacting the financial side of PTFI, its forecasted Financial Statement after the implementation of the said law and regulations should be assessed to find out whether PTFI will still provide financial benefit to its shareholders or not. Failed to satisfy the shareholders might provoke them to withdraw their investment that in its turn can stop PTFI’s operation due to lack of financing.The assessment of PTFI’s Financial Statement will use derivation of ratio analysis tools, DuPont Model Analysis and State Owned Company (“BUMNâ€) Scoring Method, to find out whether PTFI’s Financial Performance after the implementation of those law and regulation is still favorable for the shareholders or not, compare to the financial performance before the implementation of the law and regulation. Since the result of the assessment is not favorable for the shareholders, new strategies to overcome this problem should be setup. The proposed projects of Increasing Sales, Cost Reduction, Regulation Suspension, and Export Tax Discount, would worth to try, since they are proven can boost the Financial Performance of PTFI. Further, these project could also close Financial Performance gap between the Financial Performance before the implementation of the Law No. 4/2009 and MoF Regulation No. PMK - 6/PMK.011/2014 and the Financial Performance after the issuance of those law and regulation. At the end, there is no reason for shareholders to withdraw their investment at PTFI.Keywords: Favorable Financial Performance, Shareholders Satisfaction, Sustainabilit
Analysis and Proposed Improvement Permit to Work (PTW) in Chevron Geothermal Darajat Garut
No full textAbstract. Chevron is one of the international companies and businesses that have been run all over the world. Every worker they are committed to getting good results by way of applying the advantages of implementing innovative new technologies, responsible and get new opportunities that will be profitable growth for their success. Energy industry in the world almost all there is involvement of Chevron. Chevron to explore, create and lifting oil crude and natural gas; making power and produces geothermal energy; makes efficient energy and develop new energy sources for the future, including for advanced biofuels research. Chevron have an Operation Excellent for their safety. Operational Excellence is complex and multidimensional. It has to be in order to address all of the potential risks and causes of incidents that can impact our workforce, the environment and our assets. To help navigate this complexity, we developed the Operational Excellence Management System (OEMS). Based on the OE, then every will start the necessary work Permit To Work (PTW). However PTW requires a rather long time to process it. The methodology in this thesis is to conduct research for 2 months straight. During the study found some errors made by workers, that is giving approval is not in the work location. This can lead to the danger that arises in the work. From the results of the interview, according to the workers this is done in order to speed up work time, but on the other hand there is a danger that can arise from the actions of workers. By using the 5 whys, root cause of the problem is obtained that is the lack of workers who become Area Controller. The results of the analysis will result in improvement proposals that will be used to accelerate the process of Permit To Work (PTW) is. The results are in get is by adding people to become Area Controllers or provide training to supervisors in order to become a Controller Area.Keywords : Operation Excellent, Permit to Work (PTW), business solution, area controlle
Measurement and Improvement of Employee Engagement Level , a study case in PT Dirgantara Indonesia (Persero)
No full textAbstract— The high turn over rate in Directorate of Technology and Development and the high overtime rate in the Directorate of Production in PT Dirgantara Indonesia are few circumstances that show the need of improvement in employee engagement level.  The study is to measure and analyze the employee engagement and give recommendation to improve the employee engagement level in PT Dirgantara Indonesia. The survey in this study will use the WIFI model, that will show how the employees think about the Wellbeing, Information, Fairness and Involvement dimensions in the company. The study was conducted using both qualitative nd quantitative methods. Qualitative methods were in-depth interviews and focus group discussion with selected employees, and the questionnaire is the one designed based on the questionnaire from Sarah Cook using the WIFI Model.  The results of the survey shows the most significant area to improve the level of employe engagement in PT Dirgantara Indonesia is Involvement Dimension. To produce the atmosphere of involvement and encouraging the employee to get involved in PT Dirgantara Indonesia, the sense of involvement need to happen at three levels. The first level is involvement with employee’s direct line that can be improved by the action of coaching and facilitating and empowering skills. The second level is involvement with other team, consist of encouraging cross functional involvement. And the third level is Involvement with organization as a whole, that consist of the activity of making senior manager as Role Models.  Keywords: Employee Engagement, WIFI Model, InvolvementÂ
Increasing of Mining Performance by Improving Maintenance Skills
No full textAbstract – PT Tambang Raya Usaha Tama (PT TRUST), established in January 2014, a subsidiary of PT Indo Tambangraya Megah (ITM),It is an integrated mining service company, The concept is to be the best contractor for mining service which can be competitive in mining cost and coal mining business.Based on the historical data year 2014 of PT TRUST, the result of performance indicators was fluctuated and some of the indicators were below the target. The result showed a part of maintenance work which was done as a reaction to unexpected events. Furthermore, it will impact to life cycle cost of equipment which was planned by project feasibility and medium term plan. To increase the capability of Maintenance department through maintenance improvement framework establishment by collecting both of theory and best practices, also the foundation of learning organization.The project methodology aims to help understanding the current state of Maintenance department and related functions. The conceptual introduction of each element is explained and data collection was done mainly using self-assessment questionnaire covering the entire 33 building blocks of maintenance improvement activities answered by the representative staffs based on their individual understanding the current situation at work.The solution is knowledge development by delivering conceptual training to all group leaders to improve the gap of knowledge and competency. The 33 building blocks have interrelation and interdependence in the form of process flow pattern; the description and purposes of installation are presented in conjunction with the application can be applied to Maintenance activities. The training program will be delivered to address the impact of various operational performances and targets as the company has identified.Finally, this project can enhance human skill and improve the competency gap of all group leaders so they can transfer the knowledge to their subordinates. It can develop overall performance efficiency in operation and as a benchmark of company competitiveness in profit value and lower operating cost. Keywords: Overall Equipment Effectiveness (OEE), life cycle cost, maintenance improvement activities, knowledge developmen
An Evaluation On Critical Factors Oftime Performance: Engineering, Procurement And Construction At Senoro Project
No full text Abstract— Sendev Project, operated by Joint Operating Body of Perta – Medgi (PERTACO), has purpose to deliver the gas to the buyer in December 2014. Delay is common in a project, and it is inevitable that it is also occurred in Sendev Project. The delay can be caused by internal and external factors. To overcome the delays, the contribution factors of the delay shall be evaluated first. This study focus on creating a map of the critical factors that give impact to the time or duration of Engineering, Procurement, and Construction (EPC) Sendev Project at Central Processing Plant (CPP) area. The data collection used in this research is the primary data obtained by interviewing five (5) key personnel from PERTACO and secondary data obtained from monthly and weekly reports and weekly of Sendev Project from January to June 2014. The critical factors based on literature were also evaluated toward the Sendev Project. As a result from the data analysis and literature, thirteen (13) factors were identified as critical factors which give impact to the time or duration of Sendev Project which are the manpower sufficiency and productivity, performance of sub-contractors, machine sufficiency, and Project Management Team (PMT) decision-making and authority, construction management strategy, engineering design change, material sufficiency, weather, social awareness, proper planning of the contract, good project implementation, effective risk allocation, and communication. The critical factors will be used as reference to develop the mitigation plan in order to minimize Sendev Project delay. Keywords: project, delay, critical factors, Project Management Team (PMT
Variance Analysis as A Tool for Cost Control on The FIN Fan Cooler Foxtrot Compresor Project at PT Intan Prima Kalorindo
No full textAbstract - PT Intan Prima Kalorindo is a company which focused on design, manufacture, installation, and maintenance in Heat Exchanger Industry. Kalorindo is one of the largest Domestic Company of Heat Exchanger in Indonesia with 60 employees and total assets more than Rp 25 Billion in 2012. This company had 13 Projects in 2013. One of their biggest project is Fin Fan Cooler Foxtrot Compressor for Oil and Gas Company with valued $796.500. This project was expected to have profit 60-70% as a source to cover the fixed overhead costs and run business operational. But this project has a gap between budgeted plan and realized until 84%. It will impact to the company that will face several problems, which are debt increase, annual profit decrease, target not achieve, resources become wasted, and inability to pay several expenses.However, to achieve Kalorindo vision, mission, and goals, it is needed to improve their performance and do some strategy to win the competitive advantage. In this research, variance analysis is developed as the synthesis of literature and case study. This model is utilized to analyze the cause from differences between standard and actual project budget through define the cost allocation and behavior. This research shows that this company has unfavorable price and efficiency variance on Foxtrot Compressor Project. The proposed business solution implementation is based on the analysis result, includes KaizenStandard Costing PDCA scheme and schedule planning to have an evaluation for its employeesand departments in Kalorindo, and help them to define their strategy plan as continuous improvement for the future.  Keyword: Heat Exhanger, Cost Behavior, Variance Analysis, Kaizen Standard Costin