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INDONESIA
Indonesian Journal of Business and Entrepreneurship (IJBE)
Published by Institut Pertanian Bogor
ISSN : 24075434     EISSN : 24077321     DOI : -
Core Subject : Economy, Science,
Decision Sciences, Operations Research & Management Economics, Econometrics & Finance
Indonesian Journal of Business and Entrepreneurship (IJBE) publishes information of empirical research and reviews in business and entrepreneurship. IJBE is published by School of Business, Bogor Agricultural University (SB-IPB) associated with Indonesian Alliance of Magister Management Program (APMMI). IJBE was first published at the beginning of 2015 with three issue per year in January, May, and September. Editor receives articles of empirical research and reviews in business and entrepreneurship.
Arjuna Subject : -
Articles 273 Documents
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THE EFFECTS OF PARTNERSHIP AND ENTREPRENEURSHIP TOWARD BUSINESS PERFORMANCE OF OYSTER MUSHROOM (PLEUROTUSOSTREATUS) Edi Sucipto; Rina Oktaviani; Rizal Rizal
Indonesian Journal of Business and Entrepreneurship (IJBE) Vol. 1 No. 1 (2015): IJBE, Vol. 1 No. 1, January 2015
Publisher : School of Business, IPB University (SB-IPB)

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.17358/ijbe.1.1.32

Abstract

This study aimed to 1) analyze the effect of power on the performance of oyster mushroom business in Jember; 2) analyze the effect of partnerships on the performance of the white oyster mushroom business in Jember; and 3) analyze the effect of entrepreneurship on the performance of oyster mushroom business in Jember. The population in this study included the oyster mushroom cultivation farmers in Jember with the total population of 144 farmers; however, this study only used a sample size of 114 people. The data analysis method used was SEM (Structural Equation Modeling). Based on the analysis of data, it can be concluded that the power and partnerships have a significant effect, whereas entrepreneurship does not have a significant effect on the performance of oyster mushroom businesses in Jember. The study has managerial implications for the policy makers with the approach of: 1) prioritizing the power of the company that has a social characteristic by providing benefits in the form of non-materials, and this must be consistently implemented; 2) increasing partnership strategy through regular supervisions; 3) setting aside any entrepreneurial spirit which can jeorpardize the decision making in increasing production when prices are low.Keywords: power, partnership, entrepreneurship, business performanceABSTRAKPenelitian ini bertujuan 1) menganalisis pengaruh kekuasaan terhadap kinerja bisnis jamur tiram putih di Kabupaten Jember; 2) menganalisis pengaruh kemitraan terhadap kinerja bisnis jamur tiram putih di Kabupaten Jember; dan 3) menganalisis pengaruh kewirausahaan terhadap kinerja bisnis jamur tiram putih di Kabupaten Jember. Populasi dalam penelitian ini adalah petani budidaya jamur tiram putih di Kabupaten Jember. Jumlah populasi sebanyak 144 Petani budidaya jamur tiram putih. Penelitian ini menggunakan ukuran sampel dari 114 orang. Metode analisis data yang digunakan SEM (Structural Equation Modeling). Berdasarkan hasil analisis data maka dapat disimpulkan bahwa kekuasaan dan kemitraan berpengaruh signifikan, sedangkan kewirausahaan tidak berpengaruh signifikan terhadap kinerja bisnis jamur tiram putih di Kabupaten Jember. Penelitian memiliki implikasi manajerial bagi pengambil kebijakan melalui pendekatan: 1) Memprioritaskan kekuasaan perusahaan yang bersifat sosial melalui memberikan imbalan berupa in-materiil yaitu konsisten dalam berkomitmen; 3) Peningkatan strategi pola kemitraan melalui pengawasan secara rutin; 4) Mengesampingkan jiwa kewirausahaan yang beresiko dalam memutuskan peningkatan produksi saat harga rendah.Kata kunci: kekuasaan, kemitraan, kewirausahaan, kinerja bisnis
STRATEGY FORMULATION FOR DEVELOPING BATIK TULIS Indah Eko Suryani; Lukytawati Anggraeni; Ujang Suryadi
Indonesian Journal of Business and Entrepreneurship (IJBE) Vol. 1 No. 1 (2015): IJBE, Vol. 1 No. 1, January 2015
Publisher : School of Business, IPB University (SB-IPB)

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.17358/ijbe.1.1.23

Abstract

The objective of this study was to formulate a development strategy in order to maintain the existence of Batik Tulis Rolla Junior. The study used a case study approach with Rumah Batik Tulis Rolla Junior as the research object. The data were analyzed by a value chain approach to determine the internal and external conditions influencing the existence of the Batik Tulis Rolla Junior. Furthermore, this study also used the analysis of Internal Factor Evaluation (IFE), External Factor Evaluation (EFE), Internal-External (IE) Matrix, SWOT, dan Quantitative Strategic Planning Matrix (QSPM) to create the development strategy. The results show that the strategies that can be recommended to Rolla Junior include 1) increasing the capital by Kredit Usaha Rakyat (KUR) program, 2) conductiong expansions to other regencies, 3) creating a website/blog  to promote and perform business transactions, 4) increasing the frequency in joining exhibitions or EXPO both in regional and national levels, 5) conducting researches to solve the problem of coloring which requires sun rays, 6) conducting cooperations with raw material suppliers (backward integration), and 7) finding alternative suppliers of raw materials especially from the areas closer to Jember district.Keywords: development strategy, batik tulis Rolla Junior, SWOT, QSPMABSTRAKPenelitian ini bertujuan merumuskan strategi pengembangan sehingga dapat menjaga eksistensi Batik Tulis Rolla Junior. Penelitian menggunakan pendekatan studi kasus dengan Rolla Junior sebagai objek penelitiannya. Data dianalisis dengan pendekatan rantai nilai untuk mengetahui kondisi internal dan eksternal yang berpengaruh terhadap Batik Tulis kemudian menggunakan analisis Internal Factor Evaluation (IFE), External Factor Evaluation (EFE), Internal-External (IE) Matrix, SWOT, dan Quantitative Strategic Planning Matrix (QSPM) untuk menyusun strategi pengembangan Batik Tulis Rolla Junior. Hasil penelitian menunjukkan bahwa strategi-straegi prioritas yang dapat direkomendasikan kepada Rolla Junior yaitu 1) peningkatan permodalan melalui program Kredit Usaha Rakyat (KUR), 2) melakukan ekspansi ke luar daerah Jember, 3) membuat situs web/blog untuk mempromosikan dan transaksi jual beli produk, 4) peningkatan kuantitas keikutesertaan dalam acara pameran atau EXPO baik di tingkat regional maupun nasiona, 5) melakukan penelitian untuk mengatasai kendala pewarnaan yang membutuhkan sinar matahari, 6) melakukan kegiatan kerja sama dengan pemasok bahan baku (integrasi ke belakan, dan 7) mencari alternatif daerah pemasok bahan baku khususnya yang lebih dekat dengan kabupaten Jember.Kata kunci: strategi pengembangan, batik tulis Rolla Junior, SWOT, QSPM
MARKETING MIX ANALYSIS OF NATURAL TOURISM AREA 'KAWAH PUTIH’ AND ITS EFFECT ON VISITORS’ DECISION Isyana Rahayu; Dodik Ridho Nurrochmat; Achmad Fachrodji
Indonesian Journal of Business and Entrepreneurship (IJBE) Vol. 1 No. 2 (2015): IJBE, Vol. 1 No. 2, May 2015
Publisher : School of Business, IPB University (SB-IPB)

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.17358/ijbe.1.2.72

Abstract

Kawah Putih is one of the leading tourist places in Bandung which has significantly contributed to the revenue of travel business division in the Forestry Housing as the manager. The revenue obtained depends on the marketing mix strategy conducted by the management because the marketing mix is the elements which become a consideration basis when making marketing communication strategy services in order to understand the demands of tourists. Therefore, the objectives of this study were to obtain and understand information and analyze the visitors’ responses on the natural tourism area related to the marketing mix that has been implemented by the management. The dependent variables included the elements of marketing mix, that involves 7P – product, price, place, promotion, people, procees and physical evidence, while the independent variable included the visitors’ decision. From the validity and tests, it is revealed that the overall regression model bring effects or at least there is one variable of the marketing mix factors that influences the decision of the visitors. From the data analysis, it is found that the process variables and physical appearance do not significantly affect the decision of the visitors. The other variables. that involve variables of product, price, place, promotion, and human have significantly influence the visitors’ decision.Keywords: Marketing mix, Kawah Putih, decision of visitors, touristsABSTRAKKawah Putih merupakan salah satu wisata unggulan Kota Bandung dan telah berkontribusi cukup signifikan untuk pendapatan divisi bisnis wisata Perum Perhutani. Pendapatan yang diperoleh tergantung dari strategi bauran pemasaran yang dilakukan oleh pengelola karena pada bauran pemasaran terdapat unsur atau elemen yang menjadi dasar pertimbangan pembuatan strategi komunikasi pemasaran jasa dalam rangka untuk memahami tuntutan dari wisatawan. Tujuan penelitian ini adalah memperoleh informasi, memahami dan menganalisis tanggapan pengunjung kawasan wisata alam tentang bauran pemasaran yang telah dilakukan oleh pihak pengelola. Variabel independennya adalah elemen bauran pemasaran 7P yaitu product, price, place, promotion, people, procees dan physical evidence, sedangkan untuk variabel dependennya adalah keputusan pengunjung. Pada uji validitas dan reabilitas diketahui data hasil penelitian bisa digunakan. Pada uji asumsi didapatkan bahwa data memenuhi asumsi normal serta tidak terdapat multikolinearitas dan heteroskedasititas Dari hasil analisis data dapat diketahui variabel proses dan penampilan fisik tidak berpengaruh terhadap keputusan pengunjung. Sedangkan untuk variabel lainnya yang mencakup variabel produk, harga, tempat, promosi, dan manusia signifikan berpengaruh terhadap respon keputusan pengunjung.Kata kunci: marketing mix, Kawah Putih, keputusan pengunjung, wisatawan
BUSINESS DEVELOPMENT STRATEGY FOR SPECIALTY COFFEE Vharessa Aknesia; Arief Daryanto; Kirbrandoko Kirbrandoko
Indonesian Journal of Business and Entrepreneurship (IJBE) Vol. 1 No. 1 (2015): IJBE, Vol. 1 No. 1, January 2015
Publisher : School of Business, IPB University (SB-IPB)

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.17358/ijbe.1.1.12

Abstract

Specialty coffee is a coffee of premium quality that has been made through various stages of post-harvest processing and strictly controlled to produce distinctive taste of origins. PT Sinar Mayang Lestari is one of the companies that currently produce and develop specialty coffee type, Arabica Java Preanger. The objectives of the study are to examine competitive advantages and develop an alternative strategy that need to be done by PT Sinar Mayang Lestari for their business development. The research methods used are value chain analysis and VRIO framework to explore competitive advantage owned by the company. The result shows the company currently has a temporary competitive advantage of the technological resources and reputation. By using SWOT-AHP technique, the alternative strategies that can be done by company are as follows: 1) increasing the production of natural and honey coffee  type; 2) building coffee center in plantation site for sharing knowledge and innovation media to the farmers; 3) improving the competency of human resource in plantation, post harvest, and promoting area; 4) building management system gradually 5) forwarding integration by building roast and ground coffee business; and 6) maximizing the ability of the land and human resources through research and development.Keywords: competitive advantage, specialty coffee, SWOT-AHP, value chain, VRIOABSTRAKKopi special merupakan kopi dengan kualitas premium yang sudah melalui berbagai tahapan pengolahan pascapanen yang diawasi dengan ketat sehingga menghasilkan cita rasa yang khas sesuai dengan daerah asalnya. PT Sinar Mayang Lestari adalah salah satu perusahaan yang saatini memproduksi dan mengembangkan kopi spesial jenis Arabika Java Preanger. Tujuan dari penelitian ini adalah menganalisis keunggulan bersaing yang dimiliki dan mengembangkan alternative strategi yang perlu dilakukanoleh PT Sinar Mayang Lestari untuk pengembangan usahanya. Penelitian ini menggunakan analisis rantai nilai dan kerangka VRIO untuk mengidentifikasi keunggulan bersaing yang dimiliki perusahaan. Di samping itu, menggunakan analisis SWOT-AHP untuk menentukan alternatif strategi. Hasilnya menunjukkan bahwa perusahaan saat ini memiliki keunggulan bersaing sementara terhadap sumber daya teknologi dan reputasi. Alternatif  strategi yang diperoleh menunjukkan perusahaan kedepannya dapat melakukan langkah-langkah sebagai berikut: 1) memperbanyak produksi kopi jenis natural dan honey; 2) membangun coffee center di lokasi perkebunan untuk sharing knowledge daninovasi kepada petani; 3)meningkatkan kompetensi SDM di bidang perkebunan, pascapanen, dan promosi; 4)membangun sistem manajemen secara bertahap; 5) integrasike depan dengan membangun usaha kopi roasting danbubuk; dan 6) memaksimalkan kemampuan lahan dan SDM yang dimiliki melalui riset dan pengembangan.Kata kunci: keunggulan bersaing, kopi spesial, rantai nilai, SWOT-AHP, VRIO
THE MODEL AND PERFORMANCE OF PARTNERSHIP BETWEEN SEED COMPANY AND FARMERS Dian Widi Prasetyo; Idqan Fahmi; Yossi Wibisono
Indonesian Journal of Business and Entrepreneurship (IJBE) Vol. 1 No. 1 (2015): IJBE, Vol. 1 No. 1, January 2015
Publisher : School of Business, IPB University (SB-IPB)

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.17358/ijbe.1.1.1

Abstract

The partnership concept is expected to be one of the ways to improve agricultural sector in Indonesia, so that it will become a mutually beneficial partnership. One of the business entities in seed and supplier for horticultural crops is CV Rahmat Tani. However, the research has found some problems in the partnership system between CV Rahmat Tani and its farmers. Some of them are the products’ qualities which have no standard and the low price.  The aims of this study were 1) to describe and evaluate the partnership that has been used by CV Rahmat Tani and partner farmers, 2) to analyze the farmers’ perception on the partnership’s implementation partnership, 3) to analyze CV Rahmat Tani’s perception on the partnership’s implementation and 4) to formulate strategies to improve the partnership’s performance. The tools of analysis used were gap analysis, EPA, and Mann Whitney Test. The result of the study showed that the pattern that tied the CV and its farmers was informal model. According to partner farmers’ perception, the priorities were 1) the delivery of seeds, pesticides, and fertilizers, 2) seeds selling price 3) cultivation and seeds management training and 4) post–harvest payment. The main priority that would be improved based on the owner’s opinion was the field supervisors’ inputs and recommendation. The recommendation strategies to improve the partnership are: 1) CV Rahmat Tani and its farmers together need to optimize planning; 2) the CV needs to provide trainings about cultivation and postharvest, and to oversee the quality of seed; 3) the CV needs to socialize the postharvest payment deadline; and 4) both parties should synchronize their perception and set some rules.Keywords: EPA, gap analysis, partnerships, seedABSTRAKKonsep kemitraan diharapkan menjadi salah satu cara untuk meningkatkan sektor pertanian di Indonesia sehingga ini akan menjadi sebuah hubungan yang menguntungkan. Salah satu badan usaha yang bergerak dibidang pembenihan dan supplier untuk tanaman hortikultura adalah CV Rahmat Tani. Namun, kerja sama tersebut dikhawatirkan akan menimbulkan sesuatu yang tidak diinginkan, misalnya kualitas barang tidak standar dan harga yang rendah. Tujuan dari penelitian ini adalah 1) mendeskripsikan dan mengevaluasi kemitraan yang telah terjalin antara CV Rahmat Tani dan petani mitra, 2) menganalisis persepsi petani terhadap pelaksanaan kemitraan, 3) menganalisis persepsi CV Rahmat Tani terhadap pelaksanaan kemitraan, dan 4) merumuskan strategi untuk meningkatkan kinerja kemitraan. Alat analisa yang digunakan adalah Servqual, EPA, dan Mann Whitney Test. Hasil penelitian menunjukkan bahwa pola kemitraan yang terjalin antara CV dan petani mitra adalah unit usaha bersama dengan sistem kontrak lisan. Menurut persepsi petani mitra, prioritas perbaikan kemitraan adalah 1) pengiriman benih, obat-obatan dan pupuk, 2) harga jual benih, 3) pelatihan dan manajemen budi daya benih, dan 4) pembayaran pascapanen. Prioritas utama yang akan ditingkatkan menurut pemilik adalah rekomendasi dan saran dari pengawas lapang. Kelima prioritas utama ini perlu diperbaiki guna mengoptimalkan kemitraan.Keywords: EPA, gap analysis, kemitraan, benih
CUSTOMER SATISFACTION AND LOYALTY OF A FRANCHISE PRODUCT EVIDENCE FROM NASI BEBEK GINYO RESTAURANT IN JAKARTA Kartika Puspitasari Adiningsih; Rita Nurmalina; MD. Djamaludin
Indonesian Journal of Business and Entrepreneurship (IJBE) Vol. 1 No. 1 (2015): IJBE, Vol. 1 No. 1, January 2015
Publisher : School of Business, IPB University (SB-IPB)

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.17358/ijbe.1.1.42

Abstract

The objectives of this study were to: 1) identify the characteristics of the customers of Restaurant Nasi Bebek Ginyo, 2) to analyze factors influencing customer satisfaction and loyalty, and 3) to analyze the level of customer satisfaction and loyalty. Descriptive Analysis, Structural Equation Modelling (SEM), Customer Satisfaction Index (CSI) and Customer Loyalty Index (CLI) were used to analyze the data. The results of the study showed that tangible, reliability, food quality, and perceived value had significantly contributed to influencing customer satisfaction. From the estimates of SEM output, the results of CSI for this study were 67.78% and CLI is 58. 11%. The results of the study suggested for managerial implications to increase the level of customer satisfaction and loyalty.Keywords: customer satisfaction, customer loyalty, SEM, CSI, CLIABSTRAKTujuan dari penelitian ini adalah: 1) mengidentifikasi karakteristik dan perilaku konsumen restoran Nasi Bebek Ginyo, 2) menganalisis faktor-faktor yang mempengaruhi kepuasan dan loyalitas konsumen, dan 3) menganalisis tingkat kepuasan dan loyalitas konsumen.Analisis yang digunakan untuk mengolah data pada penelitian ini, yaitu:analisis deskriptif, Structural Equation Modelling (SEM), Customer Satisfaction Index (CSI) dan Customer Loyalty Index (CLI). Hasil penelitian menunjukkan bahwav ariabel laten eksogen tangible, reliability, food quality dan perceived value memiliki hubungan yang signifikan dalam membentuk variabel kepuasan.Dari hasil analisis SEM, didapat nilai perhitungan CSI untuk konsumen restoran Nasi Bebek Ginyo yaitu sebesar 67,78% dan nilai CLI dari penelitian ini yaitu sebesar 58,11%. Implikasi manajerial yang disarankan untuk manajemen restoran Nasi Bebek Ginyo guna memperbaiki kinerja perusahaan, yang akan berdampak pada peningkatan kepuasan dan loyalitas konsumen.Kata kunci: kepuasan konsumen, loyalitas konsumen, SEM, CSI, CLI
THE EFFECT OF SERVICE, PRODUCT QUALITY, AND PERCEIVED VALUE ON CUSTOMER PURCHASE INTENTION AND SATISFACTION Dodi Iskandar; Rita Nurmalina; Etty Riani
Indonesian Journal of Business and Entrepreneurship (IJBE) Vol. 1 No. 2 (2015): IJBE, Vol. 1 No. 2, May 2015
Publisher : School of Business, IPB University (SB-IPB)

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.17358/ijbe.1.2.51

Abstract

The research was conducted at Kedai Sop Durian Lodaya (KSDL) in Bogor on February 2015. The research objectives were 1) to identify the characteristics of KSDL consumer’s behavior, 2) to analyze the factors influencing the consumer satisfaction and purchase intention of KSDL’s consumers , 3) to analyze KSDL's consumer satisfaction level and purchase intention, 4) to formulate the managerial implications in order to increase consumer satisfaction and KSDL's purchase intention. The research was conducted by using descriptive methods through case study approach. Data was collected through questionnaires with non-probability sampling technique, using  convenience sampling technique. Data was analyzed by using Structural Equation Modeling (SEM). The result shows that all of the satisfaction component variabels have significantly influenced consumer satisfaction and purchase intention. In sequence, the variables having the highest influence to the lowest influence are product quality, responsiveness, assurance, empathy, reliability, tangibility, and perceived value.    Keywords: consumer satisfaction, service quality, product quality, purchase intention, SEM, kedai sop durian lodaya (KSDL) ABSTRAKPenelitian dilakukan di Kedai Sop Durian Lodaya (KSDL) di Bogor pada bulan Februari 2015. Tujuan dari penelitian ini adalah 1) mengidentifikasi karakteristik perilaku konsumen di KSDL, 2) menganalisis faktor-faktor yang mempengaruhi kepuasan dan purchase intention pada konsumen di KSDL, 3) menganalisis tingkat kepuasan dan purchase intention konsumen di KSDL, 4) merumuskan implikasi manajerial untuk meningkatkan kepuasan konsumen serta menimbulkan purchase intention konsumen di KSDL. Penelitian ini dilakukan dengan metode deskriptif melalui pendekatan studi kasus. Pengumpulan data dilakukan melalui pengisian kuesioner dengan teknik nonprobability sampling menggunakan metode convenience sampling. Data dianalisis dengan menggunakan structural equation modeling. Hasil analisis Structural Equation Modeling (SEM) menunjukkan bahwa semua variabel penyusun kepuasan berpengaruh signifikan terhadap kepuasan konsumen dan purchase intention. Secara berurutan pengaruh dari yang paling besar sampai yang terkecil adalah product quality, responsiveness, assurance, emphaty, reliability, tangible, dan perceived value. Kata kunci:  kepuasan konsumen, service quality, product quality, purchase intention, SEM,kedai sop durian lodaya (KSDL)  
DESIGNING COMPANY PERFORMANCE MEASUREMENT SYSTEM USING BALANCE SCORECARD APPROACH Cecep Mukti Soleh; Idqan Fahmi; Imam Teguh Saptono
Indonesian Journal of Business and Entrepreneurship (IJBE) Vol. 1 No. 2 (2015): IJBE, Vol. 1 No. 2, May 2015
Publisher : School of Business, IPB University (SB-IPB)

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.17358/ijbe.1.2.63

Abstract

This research aimed to design how to measure company performance by using balance scorecard approach in coal transportation services industry. Depth interview was used to obtain qualitative data determination of strategic objectives, key performance indicators, strategic initiatives, and in charge units for each balanced scorecard perspectives while the quantitative data were obtained from weighting through questionnaires and analyzed using paired comparison to get a perspective what mostly affected the performance of the company. To measure the achievement of corporate performance, each KPI used (1) the scoring system with the methods that higher is better, lower is better and precise is better; (2) traffic light system with the help of green, yellow, red for identification of target achievement. This research result shows that in the balance scorecard perspective, the most influences on the overall performance of the company include the customer's perspective (31%), financial perspective (29%), internal business processes (21%), learning, and growth 19%). Keywords: balance scorecard, paired comparison, coal transportation serviceABSTRAKPenelitian ini bertujuan untuk merancang pengukuran kinerja perusahaan dengan menggunakan pendekatan balance scorecard di industri jasa pengangkutan batu bara. Data kualitatif diperoleh melalui indepth interview digunakan untuk menentukan sasaran strategik, indikator kinerja utama, inisiatif strategi dan penanggungjawab setiap divisi setiap perspektif balance scorecard, sedangkan data kuantitatif digunakan untuk pembobotan melalui kuesioner dan dianalisis dengan menggunakan metode paired comparisson untuk mendapatkan perspektif yang paling berpengaruh terhadap kinerja perusahaan. Ukuran pencapaian kinerja perusahaan dari setiap KPI menggunakan; (1) scoring system dengan bantuan metode higher is better, lower is better dan precise is better;(2) traffic light system dengan menggunakan bantuan warna hijau, kuning, merah untuk identifikasi pencapaian target. Penelitian ini menyimpulkan bahwa perspektif yang paling berpengaruh terhadap kinerja perusahaan adalah perspektif pelanggan (31%), kemudian diikuti oleh perspektif keuangan (29%), proses internal bisnis (21%), dan pertumbuhan dan pembelajaran (19%).Kata kunci: balance scorecard, paired comparison, jasa pengangkutan batu bara
TESTING ON PECKING ORDER THEORY AND ANALYSIS OF COMPANY’S CHARACTERISTIC EFFECTS ON EMITTEN’S CAPITAL STRUCTURE Tajudin Noor; Bonar Sinaga; TB Nur Ahmad Maulana
Indonesian Journal of Business and Entrepreneurship (IJBE) Vol. 1 No. 2 (2015): IJBE, Vol. 1 No. 2, May 2015
Publisher : School of Business, IPB University (SB-IPB)

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.17358/ijbe.1.2.81

Abstract

Pecking Order Theory (POT) states that hierarchy fundings based on the cheapest cost coming from internal fund, followed by external fund are needed to determine the capital structure. The research objectives were to examine the concept of POT in agriculture companies listed on Indonesia Stock Exchange in order to decide the capital structure policies as well as to analyse the effects of company’s characteristics to the emitten capital structure. The research used regression analysis with pooled least square (PLS) method in order to test POT, while the fixed effect model (FEM) was applied to analyze the effect of company’s characteristics on capital structure. Regression analysis in evaluating pecking order theory’s concept shows that internal funding deficit significantly gives positive influence to the change of long term debts. Regression analysis resulted from company’s characteristics (profitability, size, growth, tangibility and liquidity) shows that the company’s size and growth have significant positive effects on capital structure (leverage), whereas company’s profitability and liquidity have significant negative effects on capital structure (leverage). By contrast, company’s assets structure (tangibility) do not give significantly influence on capital structure (leverage) in 10% level of significance. The research shows that issuers in agricultural sector have implemented the concept of POT through the hierarchy usage of the cheapest financing from the internal as a priority followed by the external financing (debt).Keywords: Pecking Order Theory, capital structure, company’s characteristics, PLS, FEMABSTRAKPecking Order Theory menyatakan bahwa penentuan struktur modal yang optimal didasarkan pada keputusan pendanaan secara hirarki berdasarkan biaya modal yang paling murah yang bersumber pada dana internal, baru kemudian menggunakan sumber dana eksternal. Penelitian ini bertujuan menguji penggunaan konsep Pecking Order Theory pada emiten di sektor pertanian yang terdaftar di BEI dalam menentukan kebijakan struktur modal serta menganalisis pengaruh karakteristik emiten di sektor pertanian terhadap struktur modal. Penelitian ini menggunakan analisis regresi dengan  metode pooled least square (PLS) untuk pengujian konsep Pecking Order Theory, sedangkan dalam menganalisis pengaruh karakteristik emiten di sektor pertanian terhadap struktur modal digunakan metode fixed effect model (FEM).  Hasil pembuktian konsep pecking order theory menunjukkan bahwa defisit pendanaan internal berpengaruh positif secara signifikan terhadap perubahan utang jangka panjang. Sedangkan hasil analisis regresi antara karakteristik perusahaan (profitability, size, growth, tangibility dan liquidity) menunjukkan bahwa size dan growth memiliki pengaruh positif signifikan terhadap struktur modal, profitability dan liquidity memiliki pengaruh negatif signifikan terhadap struktur modal, dan tangibility tidak memiliki pengaruh yang signifikan terhadap leverage pada tingkat signifikansi 10%.Hasil analisis menunjukkan emiten di sektor pertanian telah mengikuti kaidah pecking order theory melalui jenjang pemanfaatan sumber pembiayaan dari urutan termurah yaitu pendanaan internal dan kemudian pembiayaan eksternal yang paling murah (utang).Kata kunci: Pecking Order Theory, struktur modal, karakteristik perusahaan, PLS, FEM
COMPARATIVE FEASIBILITY ANALYSIS OF MODERN AND TRADITIONAL SYSTEM OF BROILER CHICKEN FARM BUSINESS Firda Rachma Amalia; Arief Daryanto; Hari Rujito
Indonesian Journal of Business and Entrepreneurship (IJBE) Vol. 1 No. 2 (2015): IJBE, Vol. 1 No. 2, May 2015
Publisher : School of Business, IPB University (SB-IPB)

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.17358/ijbe.1.2.90

Abstract

Feasibility study is a study assessing a project to be undertaken in the future. This research aimed to analyze whether the broiler business by partnership pattern at Prospek Mitra Lestari (PML) was feasible to be continued. This research analyzed two models of cage that is traditional cage (open) with a scale of 10,000  and modern cage (close) with a scale 14.500 and decided whether they were financially feasible or not. In addition, this research aimed to compare between traditional cage and modern cage with estimation for one year (six harvest times) and to analyze which cage had better feasibility in order to provide recommendations or suggestions to the breeders or young breeders. Sensitivity analysis was based on current input and output data from breeder in 2012. The feasibility study of chicken broiler farm cage partnership with traditional and modern cage with the next ten year estimation showed that the modern cage was better than the traditional cage. It can be seen from the values of NPV, IRR, PP, B/C, GPM and ROI. Sensitivity analysis shows that traditional cage is more sensitive to price changes than modern cage. It is shown in the traditional cage with the capacity of 10,000 produces smaller values, indicating that is it is sensitive to cost increase by 2% and to selling price decline of chicken by 1,7%. The recommendations from this study include inputs to farmers in selecting a modern cage since it is more feasible than the traditional cage for long periods of time, while the traditional cage is more viable than the modern cage if the farmer wants a shorter investment timeKeywords: Feasibility studies, Broiler, modern and Traditional cageABSTRAKKelayakan merupakan studi  menilai proyek yang akan dikerjakan di masa mendatang. Penelitian ini bertujuan untuk menganalisisis apakah usaha ayam broiler dengan pola kemitraan pada Prospek Mitra Lestari (PML) layak untuk diteruskan. Penelitian ini menganalisisis dua model kandang tradisional (open house) dan kandang modern (close house) dengan skala yang berbeda, yaitu 10.000 dan 14.500 layak atau tidak secara finansial, selain itu penelitian ini bertujuan untuk membandingkan antara kandang tradional dan kandang modern dengan estimasi selama sepuluh tahun untuk untuk memberikan rekomendasi atau masukan pemilihan kandang kepada peternak atau peternak pemula. Analisis sensitivitas didasarkan pada data penenerimaan dan pengeluaran terbaru dari peternak pada tahun 2012. Kelayakan usaha ayam peternakan broiler pola kemitraan kandang tradisional dan kandang modern dengan estimasi sepuluh tahun ke depan menunjukkan bahwa kandang modern paling layak dibandingan dengan kandang tradisional. Hal ini dapat dilihat dari nilai NPV, IRR, PP, B/C, GPM dan ROI kandang modern lebih besar dibandingkan kandang tradisional. Analisis sensitivitas menunjukkan bahwa kandang tradisional sangat sensitif terhadap perubahan harga dibandingkan dengan kandang modern, hal ini ditunjukkan pada kandang tradisional kapasitas 10.000 ekor menghasilkan nilai terkecil yaitu peka terhadap kenaikan biaya sebesar 2% dan penurunan harga jual ayam sebesar 1,7%. Rekomendasi dari penelitian ini adala masukan kepada peternak dalam memilih kandang, yaitu kandang modern lebih layak dibandingkan kandang tradisional jika untuk jangka waktu yang lama, sedangkan kandang tradisional lebih layak dibandingkan kandang modern jika peternak menginginkan waktu investasi yang lebih pendek.Kata kunci:  studi kelayakan, ayam broiler, kandang modern dan terbuka

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