vol. 23 no. 1 march 2022 winnersthe journal p-issn: 1412-1212 e-issn: 2541-2388 editor in chief arta moro sundjaja bina nusantara university, indonesia managing editors noerlina bina nusantara university, indonesia christian harito bina nusantara university, indonesia editor board dhiresh kulshrestha university rajkot-gujarat (india), india martin thomas falk university of south-eastern norway, norway prof. sangeeta sahney indian institute of technology kharagpur, india sivadass thiruchelvam universiti tenaga nasional putrajaya, malaysia yudi fernando universiti malaysia pahang, malaysia elia ardyan universitas ciputra surabaya, indonesia hendry hartono bina nusantara university, indonesia sevenpri candra bina nusantara university, indonesia language and layout editor shavira sarashita bina nusantara university, indonesia dina nurfitria bina nusantara university, indonesia eka yanti pangputri bina nusantara university, indonesia atmawati bina nusantara university, indonesia holil bina nusantara university, indonesia secretariat dewi novianti bina nusantara university, indonesia description the winners is a semiannual journal, published in march and september. the winners focuses on various issues spanning in economics, business, management, and information system through this scientific journal. the winners has been acredited by dikti under the decree number 158/e/kpt/2021 (sinta 2) and indexed by directory of open access journals (doaj), academic research index (research bib), microsoft academic search, garda rujukan digital (garuda), bielefeld academic search engine (base), world catalogue (worldcat) and google scholar, and indonesian research repository (neliti). research and technology transfer office, bina nusantara university, anggrek campus, jl. kebon jeruk raya 27, kebon jeruk, jakarta barat 11530, tel. +621-5350660 ext. 1705/1708, fax.+621-5300244, e-mail: thewinners@binus.edu, https://journal.binus.ac.id/ index.php/winners contents astri wening perwitasari the effect of perceived usefulness and perceived easiness towards behavioral intention to use fintech by indonesian msmes .................................................... 1-9 andaru rachmaning dias prayitno; deni kusumawardani open unemployment rate in the province of east java ................................................................. 11-18 prima ayundyayasti; arum febriyanti ciptaningtias evaluating perceived service quality, perceived playfulness, and gratification towards user’s attitude of mobile instant messaging application.................................................................. 19-24 ronaldo yolanda putra; syifa nurul fadillah in-store marketing strategies towards customer attitude to private label brands using cue utilization theory...................................................................... 25-33 hendry hartono; reeya ardini the effect of opportunity recognition and organization capability on sme performance in indonesia moderated by business model innovation........................................... 35-41 chesa ivania larasati; purwanto how financial ratios and firm size affect profitability: evidence from food and beverages industry in indonesia................................................................ 43-50 manzilatul rohmah; apol pribadi subriadi processes and activities for managing change in information systems implementation in higher education institution.................................................. 51-64 suwinto johan corporate governance principles in sovereign wealth fund: the case of indonesia sovereign wealth fund.... 65-71 nensi mesrani tarigan; ferry doringin; m. wahyu budiana the effect of entrepreneurship education and entrepreneurial motivation on aro gapopin’s student interest in entrepreneurship ..................................................................... 73-79 fernanda losaura; putra iyang bodronoyo; dimas tri wibowo the determinant factors of e-loyalty in customer-to-customer e-commerce moderated by gender............ 81-93 p-issn: 1412-1212 e-issn: 2541-2388 vol. 23 no. 1 march 2022 winnersthe journal sampul .pmd economic, business, management, and information system journal vvvvvolume 7, nomor 2, september 2006olume 7, nomor 2, september 2006olume 7, nomor 2, september 2006olume 7, nomor 2, september 2006olume 7, nomor 2, september 2006 issn: 1412 1212 pelindung prof. dr. gerardus polla, m.app.sc. redaktur utama parulian sihotang, ak., m.acc., ph.d. dewan redaksi antonius herusetya s.e., m.m., ak. misbahul munir, ak., mba ir. harjanto prabowo, m.m. mitra bestari dr. hekinus manao, m.acc., c.g.f.m. (universitas indonesia) dr. sudarwan, m.b.a., q.i.a. (universitas trisakti) dr. ir. roy sembel, m.b.a. (program pascasarjana universitas bina nusantara) edi timbul hardiyanto, s.e., ak., m.sc., m.b.a., b.a.p (institut pendidikan internal auditor indonesia) dr. suroso isnandar, m.sc. (university of abertay, united kingdom) marien van den boom, ph.d. (in holland university, the netherlands) editor dra. endang ernawati, m.lib. titik rahayu s., s.s. sekretariat hery h.m., s.kom. holil angga ferdiansyah alamat sekretariat subcenter publikasi ilmiah bidang ekonomi, center for research and comunnity services, universitas bina nusantara jl. kemanggisan ilir iii no. 45, kemanggisan/ palmerah, jakarta barat 11480 telp. (021) 5327630 ext. 6129 fax. (021) 5300244 e-mail: heryhm@binus.ac.id issn 1412-1212 subcenter publikasi ilmiah bidang ekonomi universitas bina nusantara economic, business, management, and information system journal vvvvvolume 7, nomor 2, september 2006olume 7, nomor 2, september 2006olume 7, nomor 2, september 2006olume 7, nomor 2, september 2006olume 7, nomor 2, september 2006 issn: 1412 1212 daftar isi kata pengantar..................................................................................................................................... v suryadiputra liawatimena; andy margono; yati analisis strategi pemasaran web hosting pt singcat network (strategic analysis of web hosting marketing on singcat network company)................................... 89-103 budiman notoatmojo; haryadi sarjono analisis program pengembangan agrobisnis holtikultura dengan metode policy analysis matrix (development program analysis of horticulture agribusiness using policy analysis matrix method).............................................................................................. 104-113 agustina tutik; synthia atas sari; hartiwi prabowo perancangan model evaluasi diri dosen (a model design of lecturer personal evaluation).............................................................................. 114-127 henny hendarti peranan biaya sosial dalam meningkatkan kinerja sosial dan kinerja keuangan perusahaan high dan low profile (the role of social cost in inceasing the social and financial performances of high and low profile companies)....................................................... 128-143 dyah budiastuti; diananda gf analisis tingkat kepentingan desain industri produk handphone: studi kasus di fakultas ekonomi ubinus (the importance level analysis of handphone product industry design: a case study on faculty of economics on bina nusantara university)............................................... 144-149 endang ernawati manajemen literatur kelabu sebagai pendukung penelitian dan penulisan karya ilmiah (grey literature management for supporting research and scientific writing activities).............. 150-163 dedi walujadi potensi dan prospek industri kecil (potency and prospect of small scale industry).............................................................................. 164-173 vol. 22 no. 1 march 2021 economic, business, management, and information system journal winnersthe journal p-issn: 1412-1212 e-issn: 2541-2388 editor in chief arta moro sundjaja bina nusantara university, indonesia managing editors nico surantha bina nusantara university, indonesia christian harito bina nusantara university, indonesia national editor board dhiresh kulshrestha university rajkot -gujarat (india), india martin thomas falk university of south-eastern norway, norway prof. sangeeta sahney indian institute of technology kharagpur, india sivadass thiruchelvam universiti tenaga nasional putrajaya, malaysia yudi fernando universiti malaysia pahang, malaysia elia ardyan surakarta economics college, indonesia hendry hartono bina nusantara university, indonesia sevenpri candra bina nusantara university, indonesia language and layout editor shavira sarashita bina nusantara university, indonesia dina nurfitria bina nusantara university, indonesia eka yanti pangputri bina nusantara university, indonesia atmawati bina nusantara university, indonesia holil bina nusantara university, indonesia secretariat dewi novianti bina nusantara university, indonesia description the winners is a semiannual journal, published in march and september. the winner focuses on various issues spanning in economics, business, management, and information system through this scientific journal. the winners has been acredited by dikti under the decree number 34/e/kpt/2018 (sinta 3) and indexed by academic research index (research bib), microsoft academic search, garda rujukan digital (garuda); bielefeld academic search engine (base), world catalogue (worldcat) and google scholar, and indonesian research repository (neliti). research and technology transfer office, bina nusantara university, anggrek campus, jl. kebon jeruk raya 27, kebon jeruk, jakarta barat 11530, tel. +621-5350660 ext. 1705/1708, fax.+621-5300244, e-mail: thewinners@binus.edu, https://journal.binus.ac.id/ index.php/winners contents rano kartono; jane kartika tjahjadi factors affecting consumers’ intentions to use online food delivery services during covid-19 outbreak in jabodetabek area ............................................................................................... 1-14 freddy pandapotan simbolon; lena yanti customer engagement in higher education: how important role of social media marketing, e-service quality, and e-satisfaction for generation z students? .................................................................. 15-23 yandra rivaldo leadership and motivation to performance through job satisfaction of hotel employees at d’merlion batam.. 25-30 syafri naldi; dapit alexsander; margo purnomo interrelatedness between organizational culture and human resource management in the context of corporate entrepreneurship .................................................................................................. 31-38 herry sofyandy pranata; khairinal; denny denmar the effect of need for achievement, locus of control and attitudes towards student entrepreneurial intentions in smkn 1 batang hari .................................................... 39-45 kristianus oktriono transformative tourism breakthrough in post pandemic: an enigma or eclipse....................................... 47-55 arum prasasti; fatwah inna aulisaina; muhamad arif rahman hakim does discount matter in indonesia e-wallet race: a generation z e-wallet preferences during pandemics..... 57-65 aryo bismo; wensin halim; monica andini erwinta knowledge management strategy, innovation, and performance in small business enterprise in indonesia ..... 67-73 adeline hope pranoto; paul lumbantobing the acceptance technology model for adoption of social media marketing in jabodetabek ....................... 75-88 abdul karim; chalid imran musa; romansyah sahabuddin; muhammad azis the increase of rural economy at baraka sub-district through village funds......................................... 89-95 p-issn: 1412-1212 e-issn: 2541-2388 vol. 22 no. 1 march 2021 economic, business, management, and information system journal winnersthe journal 00a_thewinners_editorial_22-1.pdf 00b_thewinners_content_22-1 economic, business, management, and information system journal volume 8, nomor 2, september 2007 issn: 1412 1212 redaktur utama engkos achmad kuncoro, s.e., m.m. dewan redaksi dr. harjanto prabowo, m.m. idris gautama so, se., s.kom., m.m., m.b.a. ersa tri wahyuni, s.e., m.acc. tjia fie tjoe, s.kom., m.m. misbahul munir, ak., m.b.a. parulian sihotang, ak., m.acc., dipres., ph. d rindang widuri, s.kom., m.m. mitra bestari tatang ary gumanti, ph.d. retno tanding suryandari, tomy gurtama soemapradja, s.e., m.m. synthia atas sari, s.ip., m.si. ariefah rachmawati, s.kom., m.m. anderes gui, s.kom., se., m.m. retno dewanti, s.ip., m.m. editor bahasa dan setter dra. endang ernawati, m.lib. titik rahayu s., s.s. holil angga ferdiansyah sekretariat hery h.m., s.kom. lies heliana alamat sekretariat subcenter publikasi ilmiah bidang ekonomi, research and comunnity services center, universitas bina nusantara jl. kemanggisan ilir iii no. 45, kemanggisan/ palmerah, jakarta barat 11480 telp. (021) 5327630 ext. 6129 fax. (021) 5300244 e-mail: heryhm@binus.ac.id issn 1412-1212 subcenter publikasi ilmiah bidang ekonomi universitas bina nusantara economic, business, management, and information system journal volume 8, nomor 2, september 2007 issn: 1412 1212 daftar isi titik aryati; shirin balafif analisis faktor yang mempengaruhi tingkat kesehatan bank dengan regresi logit (analysis of factors influencing health level of bank using logit regression).................................. 111-125 rindang widuri; asteria paramita analisis hubungan peranan budaya perusahaan terhadap penerapan good corporate governance pada pt aneka tambang tbk. (analysis of role of corporate culture in the implementation of good corporate governance on aneka tambang tbk. company)...................................................................................................... 126-138 tjia fie tjoe; haryadi sarjono model rantai markov pangsa pasar operator selular di universitas bina nusantara, jakarta barat (markov chain model of cellular operator market in bina nusantara university, west jakarta)........ 139-154 ariefah rachmawati upaya menjaga akuntabilitas pertukaran data dengan teknologi informasi multiprotocol label switching (the efforts of maintaining accountability of data transfer using multiprotocol label switching system)........................................................................................................................ 155-164 engkos achmad kuncoro analisis pengaruh lingkungan terhadap modal intelektual organisasi (analysis of environment influence on organization intellectual capital)........................................... 165-183 soekarso manajemen: paradigma baru dalam menghadapi perubahan (managament: new paradigm in facing changes)............................................................................... 184-196 retno dewanti; masruroh; doni b. analisis brand equity bina nusantara university di lingkungan smu jakarta (analysis of bina nusantara university brand equity in the high school scope in jakarta).............. 197-213 indeks.................................................................................................................................................. 215-218 isi_0915.fh11 ��������� ���� ������� ��� �� ������ ����������������� ��������� ���� ��� ����� � ��� ��� ����������� ���� � ������� ������� ������ �� ��� � ������������ �������� ������� �� !�"��#$����%��#����&'(��"�)�(*��"(��+���!����, ���("�-����������&'(��"�)�(*��"(��+���!����, .�"(��$�������"($�&����������)�(*��"(��+���!����, /�*����&��$(��)�(*��"(��+���!����, � �"�0�(������(1(��&2������� ����)�(*��"(��+���!����, �� ����� ������� �����3��������4�4� �����(�� �������� �� � %�����5$�� 6(������1(��(� 7��(� ����8��( � �� ������ 7������������ �������������� ���� �� ��"���#$�����2�#$���� ��2���"1���911(#� '��)��)�(*��"(�� �� ��!�:����"+��� %���������!�������; 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(heshmatolah asadizeidabadi) 21 introduction the role of accountants in workplaces has gradually developed and in addition to traditional knowledge of accounting, it is necessary to have special skills. for instance, knowledge skills of drawing information systems, developing and implying of systems. accountants who have these skills have better situations to help managers in competing, problems and new technology. new developments in workplace environments, such as eliminating roles and laws, specialization and globalization have led to a rise of competition and a conversion of large companies to multinational ones. these changes of workplaces show that the companies should find new strategies to success and remain stable. logically, information technology has introduced to the companies necessary instruments in order to find efficient and practical solutions to those changes. besides, they are forces to use those technologies in competition. the prime example is xbrl (mohammad, 2008). xbrl is a language for the electronic communication of business and financial data which is revolutionizing business reporting around the world. it provides major benefits in the preparation, analysis and communication of business information. it offers cost savings, greater efficiency and improved accuracy and reliability to all those involved in supplying or using financial data (xbrl international, 2007) it has suggested that xbrl is very likely to have an impact on corporations, financial reporting, users of financial reports and auditing (baldwin & trinkle, 2011). xbrl will provide the ability to access data electronically and continuously will improve the timeliness of the financial information (bovee et al. 2002; bonson, 2009). as the timeliness improves, the efficiency of the decision making process is improved (dipiazza and eccles, 2002). and xbrl has been used to automate and integrate changing financial information from multiple sources as it has said about xbrl applications (marshall et al, 2010; burnett et al, 2006; bovee et al, 2005). according to the futurist, xbrl is one of seven cutting-edge technologies that will have a big impact on business and revolutionize corporate performance (the futurist, 2003). research has been done about the importance of xbrl for business for example by (pinsker, 2003; rezaee et al, 2002; dipiazza and eccles 2002; bovee et al, 2002 and bonson, 2009) its usefulness confirmed but it has not been used very much (zhu wenming, 2007) so that this study is going to examine the accountants required skills to have efficient participation in the implementation of xbrl. extensible business reporting language (xbrl) is an xml based specification that uses accepted financial reporting standards and practices to export financial reports across all software and technologies, including the internet (junsi, 2007). xbrl allows your company to make betterinformed decisions and to leverage the capabilities of the internet to facilitate the exchange of financial information (microsoft, 2002). first introduced in the late 1990s, xbrl has loomed on the horizon for nearly a decade. but it’s finally becoming evident that the technology is about to take center stage, and the long-anticipated xbrl revolution will soon be upon us. many regulators and standards organizations, including the securities and exchange commission are now adopting xbrl (montgomery research, 2002). keys of its benefits are: technical independence –xbrl makes the distribution of financial information simpler and more dependable; single source– xbrl optimizes the preparation of financial information in various formats; leverages the power of the internet (microsoft, 2002). 22 journal the winners, vol. 13 no. 1, maret 2012: 20-26 as the founding chairman of xbrl international describes it, “the effect that xbrl will have on the business community will be more significant than the transition from paper and pencil analysis of financial information to the use of electronic spreadsheets (montgomery research, 2002). because of xbrl importance, it is important to know what factors impact on its usage among accountants, so this has been conducted by current article. method this research has been examined required skills of accountants to implementing xbrl. sample of this research will be 155 of accountants in iran. they have been contacted electronically and aids and importance of research has been explained. a questionnaire has been developed and distributed to a sample of the research, accountants in iran. the questionnaire has been distributed electronically. spss 18 has been used to analyze data, and the answers to the questionnaire have been analyzed with the statistical methods: pearson correlation and regression. in order to determine the number of relationship between success of implementing xbrl systems and accountants’ participation, two methods of pearson correlation and regression has been used. results and discussion results of table 1 show pearson correlation data in which the relation between those variables is direct and significant (p<0.01). in the other words, a rise of accountants’ participation, similarly implementing xbrl systems would increase and diverse. table 1 the relationship between success of xbrl implementation and accountants’ participation in implementation variable accountants’ participation in implementing xbrl significance level number success of xbrl implementation 0.624** 0.000 155 p<0.05* p<0.01** table 2 illustrates that slope of a regression line is significant (p<0.05). table 2 accountants’ participation in implementing xbrl model non standardized coefficients standardized coefficients t significance sample slope b standard error slope line population slope intercept 1.72 0.34 6.24 0.000 slope of a regression line 0.61 0.7 0.624 9.03 0.000 as it shows in table 3, there is not a significant relation between skills of knowledge sharing and accountants’ acceptance in implementing xbrl. it means that increase or decrease of skills of knowledge sharing does not relate to accountants’ acceptance in implementing xbrl. a study of accountant..... (heshmatolah asadizeidabadi) 23 table 3 relationship between skills of knowledge sharing and accountants’ acceptance in implementing xbrl model non standardized coefficients standardized coefficients t significance sample slope b standard error slope line population slope intercept 5.23 0.121 51.32 0.000 slope of a regression line 0.071 0.068 0.099 1.13 0.38 to determine the number of relationship between skills of knowledge sharing and accountants’ acceptance regression has been used, which in table 4, shows the relation between them is direct and significant. in other words, a rise of accountants’ participation, similarly implementing xbrl systems would increase and diversely. table 4 relationship between skills of knowledge sharing and accountants’ acceptance in storage of xbrl model non standardized coefficients standardized coefficients t significance sample slope b standard error slope line population slope intercept 5.70 0.113 54.57 0.000 slope of a regression line 0.662 0.098 0.543 7.04 0.000 the relation between technical skills and accountants’ acceptance in implementing xbrl has been assessed by regression, which in table 5, shows the relation between them is direct and significant (p<0.05). in the other word, a rise of accountants’ participation, similarly implementing xbrl systems would increase and diversely. table 5 relationship between technical skills and accountants’ acceptance in implementing xbrl model non standardized coefficients standardized coefficients t significance sample slope b standard error slope line population slope intercept 5.70 0.113 54.57 0.000 slope of a regression line 0.663 0.102 0.546 7.05 0.000 to assess the relation between technical skills and accountants’ acceptance in storage of xbrl has been used regression, which in table 6, shows the relation between them is direct and significant (p<0.05). in the other word, a rise of technical skills, similarly accountants’ acceptance in storage of xbrl would increase and diversely. 24 journal the winners, vol. 13 no. 1, maret 2012: 20-26 table 6 relationship between technical skills and accountants’ acceptance in storage of xbrl model non standardized coefficients standardized coefficients t significance sample slope b standard error slope line population slope intercept 6.99 0.178 42.01 0.000 slope of a regression line 0.96 0.97 0.660 10.11 0.000 regarding to table 7, there is no relation between trade skills and accountants’ acceptance in implementing xbrl base on result of regression analysis. table 7 relationship between trade skills and accountants’ acceptance in implementing xbrl according to table 8, there is no relation between trade skills and accountants’ acceptance in storage of xbrl base on result of regression analysis. table 8 relationship between trade skills and accountants’ acceptance in storage of xbrl model non standardized coefficients standardized coefficients t significance sample slope b standard error slope line population slope intercept 5.297 0.123 44.892 0.000 slope of a regression line 0.136 0.091 0.16 1.634 0.141 conclusion in the future, it is expected many companies to integrate xbrl and their automated accounting information systems. to provide this situation, accountants should have an important and practical role, due to this issue. this article has investigated required skills and role of accountants to practically implement xbrl, in which the results clearly show that the accountants have key roles in implementing and storage of xbrl systems. previous research has justified that role of accountants have changed with developing information technology (jean-baptiste, 2006), and also some studies state significant role of xbrl in business (pinsker, 2003; rezaee et al., 2002; dipiazza and eccles, 2002; bovee et al., 2002; bonson, 2009). model non standardized coefficients standardized coefficients t significance sample slope b standard error slope line population slope intercept 5.412 0.174 32.3 0.000 slope of a regression line 0.008 0.17 0.005 0.011 0.998 a study of accountant..... 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(2007). continuous online auditing in the government sector. international auditor. retrieved from http://www.theiia.org/intauditor/itaudit/archives/2007/june/continuous-onlineauditing-in-the-government-sector/. cover_vol.11 no.2 september 2010.fh11 ��������� ���� ������� ��� �� ������ ����������������� �������� ����������������������� ��� � �� �� � ��������������� !��"#�$����������������� ��� ������� � ��!��%!���!�!$�� & $�' �( �� ����� ��� � ����)!��!�!���$�� & $�� #�� $�' ' $�' � * %+�!�,���%+��$�� #�� $�' ' %����)���!�!�����!��! +!$�� & $�' ' ��������-!���$�� �. $�' �� )!�����������!���$�� & $�*�$�' �����/*(( 0 "!��! ���!� +���$�� % $�' ' �� ���!1��� �!�����$�' ' "!���-��.�!��-�$�� & $�' ' ���� ����� �� .��2 ��� �"!�+!����.�!��-��/����������������0 .��2 �*� ��,!��!���!���$�'*$�.1� �/��������!��.!�(!���!0 �� �&�3����*(1�! �#��(����/����������������0 �� �"��!�����!���/����0 �� �"!��2����!���/����0 �� �'�1����*� �!���!1$�.1 ��/.���� ��������������0 �� �& ��������! �$�' ' �/���������!��.!�(!���!0 �� ���!��"�������1!���$�' �( /.���� ��������������0 &�-����!�� 1!�$�.1 ��/.���� ��������������0 %!�!�3�*���)��!����$�.1 � ��� �,������4��!���$�' �� ����"���!-!��$�' ' ������%!� ��3�����!� !��$�� & $�' �� � �"������&��!-!�!$�' �� �/���������!��.!�(!���!0 '�1!��! 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/������ ����� �� �!������������������������������� ������0��� �'�0���� ��� ���5�# ����������6��0�� ����������� 0 �������8> �=8 ����� �������=> �>: 42 journal the winners, vol. 14 no. 1, maret 2013: 42-47 promosi e-ticketing terhadap kepuasan konsumen yang berdampak pada loyalitas pelanggan lindyastuti maniek pt provices indonesia, ground floor wisma bakrie 1 jln. h.r. rasuna said kav b-1, jakarta 12920 lindyasmanik@gmail.com abstract internet causes changes in the behavior of individuals and groups within the business done. with the increasing pressures of globalization, companies struggle to find a way to sustain long-term excellence competitiveness. competitive advantage is the ability to rapidly innovate and absorb innovations from different sources. the development of e-commerce has increased exponentially. e-commerce has been developed as a new market orientation, creating profit opportunities for growth for many industries. one of the industry's growing use of e-commerce systems is air transport industry. transport industry is one industry that starts using e-ticketing system, replacing the traditional ticketing system. replacing the traditional paper ticket electronic ticket has now been proven to be an effective commercial practice for organizations operating in the field of transport. e-ticketing can be described as an alternative method of tickets offered by many flight companies which electronic booking records created contain all the information usually printed on a paper ticket. a new revolution in the aviation industry was created by advances in technology. it changes the way airlines in distributing tickets and requires the flight to the next level. technology given that the electronic ticket is a technology that utilities actually require universal compatibility across airlines. keywords: internet, e-commerce, e-ticketing abstrak internet menyebabkan perubahan perilaku individu dan kelompok dalam bisnis yang dilakukan. tekanan globalisasi yang meningkat membuat perusahaan kesulitan untuk mencari jalan untuk mempertahankan keunggulan kompetitif jangka panjang. keunggulan kompetitif merupakan kemampuan untuk berinovasi terus menerus dan menyerap inovasi dari berbagai sumber. perkembangan e-commerce telah meningkat secara eksponensial. e-commerce telah dikembangkan sebagai orientasi pasar baru, menciptakan peluang keuntungan untuk pertumbuhan bagi banyak industri. salah satu industri yang berkembang menggunakan sistem e-commerce yaitu industri transportasi udara. industri transportasi merupakan salah satu industri yang mulai menggunakan sistem e-ticketing menggantikan sistem pemesanan tiket secara tradisional. penggantian tiket kertas tradisional dengan tiket elektronik kini telah terbukti menjadi praktik komersial yang efektif untuk organisasi yang beroperasi di bidang transportasi. e-ticketing dapat digambarkan sebagai metode alternatif tiket yang ditawarkan oleh banyak perusahaan penerbangan dengan catatan pemesanan elektronik yang dibuat berisi semua informasi yang biasanya dicetak pada tiket kertas. salah satu revolusi terbaru dalam industri penerbangan diciptakan dengan kemajuan teknologi. hal ini mengubah cara maskapai penerbangan dan mendistribusikan tiket, dan teknologi menuntut penerbangan melaju ke tingkat berikutnya. mengingat, teknologi tiket elektronik tersebut merupakan teknologi yang membutuhkan kesesuaian kegunaan yang universal di seluruh maskapai penerbangan. kata kunci: internet, e-commerce, tiket elektronik promosi e-ticketing terhadap..... (lindyastuti maniek) 43 pendahuluan beberapa dekade belakangan ini perkembangan yang berkaitan dengan komputer dan media internet berkembang dengan pesat. internet menyebabkan perubahan perilaku individu dan kelompok dalam bisnis yang dilakukan. tekanan globalisasi yang meningkat membuat perusahaan kesulitan mencari jalan untuk mempertahankan keunggulan kompetitif jangka panjang. keunggulan kompetitif merupakan kemampuan untuk berinovasi dan menyerap inovasi yang cepat dari sumber berbeda (greve, 2009). bagi banyak negara, sumber-sumber asing teknologi menjelaskan lebih dari 90% dari pertumbuhan produktivitas dalam negeri menunjukkan bahwa pola perubahan teknologi global ditentukan terutama oleh teknologi difusi internasional (keller, 2004). perkembangan e-commerce telah meningkat secara eksponensial (abeyratne, 2005). ecommerce telah dikembangkan sebagai orientasi pasar baru dan menciptakan peluang keuntungan untuk pertumbuhan bagi banyak industri. salah satu industri yang berkembang menggunakan sistem e-commerce yaitu industri transportasi udara. industri transportasi merupakan salah satu industri yang mulai menggunakan sistem e-ticketing. sistem ini menggantikan sistem pemesanan tiket secara tradisional. selain itu, e-ticketing menjamin penanganan lebih mudah dari perubahan jadwal, menitmenit terakhir keputusan perjalanan, dan lebih nyaman untuk pelanggan dari risiko yang terkait dengan kehilangan tiket. maskapai penerbangan umumnya memiliki model bisnis langsung, seperti pengangkutan penumpang dan barang melalui udara, yang cukup setara di seluruh perusahaan secara global. maskapai penerbangan juga terbukti menjadi pengadopsi awal informasi teknologi (buhalis, 2004) yang membuat pemahaman fenomena tertentu lebih relevan. selain memerlukan informasi teknologi sebagai pendukung bisnis, sistem pemasaran e-ticketing dibutuhkan pula. ditambah lagi, salah satu manfaat dari keberadaan internet adalah sebagai media stategi promosi suatu produk. metode jenis penelitian yang digunakan merupakan penelitian kausalitas. penelitian kausalitas, selain mengukur hubungan antara dua variabel atau lebih juga mengukur arah hubungan antara variabel bebas dan terikat, mempertanyakan masalah sebab akibat (riduwan & kuncoro, 2007). teknik pengambilan sampel (teknik sampling) dilakukan sedemikian rupa sehingga diperoleh sampel yang benar-benar dapat mewakili dan dapat menggambarkan keadaan populasi yang sebenarnya. hal tersebut dilakukan sebab sampel merupakan bagian dari jumlah dan karakteristik yang dimiliki populasi (sugiyono, 2011). penelitian ini menggunakan beberapa metode analisis. dalam pelaksanaannya, pengolahan data dilakukan dengan bantuan komputer dengan program spss (statistical product and service solution) versi 16.0. setelah data dikumpulkan, maka analisis dengan menggunakan path analysis dilakukan. rancangan uji hipotesis yang pertama yaitu melakukan transformasi data ordinal menjadi interval. mentransformasi data ordinal menjadi interval berguna untuk memenuhi syarat dari analisis parametrik yang datanya setidaknya berskala interval. teknik transformasi yang paling sederhana dengan menggunakan msi (method of successive interval). lalu setelah dilakukan transformasi data dilakukan uji validitas dan reliabilitas. menurut riduwan (2004), validitas adalah suatu ukuran yang menunjukkan tingkat keandalan atau kesahihan suatu alat ukur—alat ukur dalam penelitian ini adalah kuesioner. suatu kuesioner dikatakan valid jika setiap butir pertanyaan pada suatu kuesioner mampu untuk mengungkapkan sesuatu yang akan 44 journal the winners, vol. 14 no. 1, maret 2013: 42-47 diukur oleh kuesioner tersebut. instrumen reliabel adalah instrumen yang jika digunakan beberapa kali untuk mengukur objek yang sama akan menghasilkan data yang sama (sugiyono, 2009). setelah uji validitas dan reliabilitas dilakukan, uji normalitas pada penelitian ini menggunakan alat tes kolmogorov-smirnov yang terdapat pada spss 16.0 dengan tingkat signifikansi sebesar 0.05%, dilanjutkan dengan uji korelasi. setelah beberapa uji menggunakan spss 16.0 lalu dilakukan pengujian menggunakan path analysis. hasil dan pembahasan kuesioner disebar dan dibagikan kepada responden penelitian yang berjumlah 100 orang. hasil kuesioner diketahui dan digolongkan menjadi beberapa karakteristik berdasarkan usia, jenis kelamin, pekerjaan, pendapatan atau uang saku, dan frekuensi pembelian online ticketing. secara berturut-turut, hasil kuesioner kepada responden ditunjukkan pada gambar 1 – gambar 5. gambar 1 profil responden berdasarkan usia gambar 2 profil responden berdasarkan jenis kelamin gambar 3 profil responden berdasarkan pekerjaan promosi e-ticketing terhadap..... (lindyastuti maniek) 45 gambar 4 profil responden berdasarkan pendapatan atau uang saku gambar 5 profil responden berdasarkan frekuensi pembelian berdasarkan usia, 45% responden berusia di bawah 25 tahun; 30% berusia di antara 25–30 tahun; 20% berusia 35–45 tahun; dan 5% sisanya berusia 45–55 tahun. jenis kelamin responden 55% adalah laki-laki dan 45% adalah perempuan. kemudian berdasarkan pekerjaan, 50% responden adalah pelajar dan mahasiwa, 35% adalah pegawai swasta, 8% pegawai negeri. penghasilan atau uang saku responden, 41% berpenghasilan di bawah 1.500.000 rupiah; 39% berpenghasilan antara 1.500.000 – 3.000.000 rupiah; 8% berpenghasilan 4.500.000 – 6.000.000 rupiah; 7% berpenghasilan 3.000.000 – 4.500.000 rupiah; dan 5% di atas 6 juta rupiah. pada frekuensi pembelian responden, ¾ responden (75%) melakukan 1–3 kali pembelian; 20% melakukan 4–6 kali pembelian; dan 5% sisanya 7–9 kali pembelian. uji korelasi promosi e-ticketing, kepuasan konsumen, dan loyalitas pelanggan ditunjukkan pada tabel 1. sedangkan tabel anova pengaruh secara simultan variabel-variabel ini ditunjukkan pada tabel 2. tabel 1 uji korelasi antara promosi e-ticketing dan kepuasan konsumen correlations promosi ticketing kepuasan konsumen loyalitas pelanggan promosi ticketing pearson correlation 1.000 .968** .951** sig. (2-tailed) .000 .000 n 100.000 100 100 kepuasan konsumen pearson correlation .968** 1.000 .985** sig. (2-tailed) .000 .000 n 100 100.000 100 loyalitas pelanggan pearson correlation .951** .985** 1.000 sig. (2-tailed) .000 .000 n 100 100 100.000 46 journal the winners, vol. 14 no. 1, maret 2013: 42-47 tabel 2 pengaruh secara simultan anovab model sum of squares df mean square f sig. 1 regression 15.710 2 7.855 1594.110 .000a residual .478 97 .005 total 16.188 99 implementasi promosi e-ticketing dari website dan media sosial memiliki pengaruh yang signifikan dan positif terhadap kepuasan konsumen dari layanan promosi e-ticketing pt kem travel. timbulnya pengaruh tersebut disebabkan pengalaman perusahaan yang sudah berdiri sejak 1992 yang dipimpin oleh para profesional yang sudah berkecimpung di bagian travel selama lebih dari 20 tahun. ditambah lagi, pengalaman konsumen yang sudah lama menggunakan jasa kem travel untuk fasilitas dalam pemesanan tiket wisata baik domestik maupun internasional. selain itu, kem travel juga juga melayani layanan haji dan umroh. implementasi promosi e-ticketing yang berdampak pada loyalitas pelanggan memiliki pengaruh yang signifikan dan positif terhadap kepuasan konsumen. promosi e-ticketing yang dilakukan perusahaan dapat menarik minat konsumen untuk menggunakan fasilitas jasa dari kem travel. promosi yang dijalankan perusahaan yang berhasil menarik minat konsumen dapat menimbulkan loyalitas pelanggan. pelanggan yang loyal, pada akhirnya, akan melakukan pembelian dan menggunakan e-ticketing melalui pt kem travel secara berulang. implementasi kepuasan konsumen memiliki pengaruh yang signifikan terhadap loyalitas pelanggan. timbulnya pengaruh tersebut dapat disebabkan dari kualitas perusahaan yang berpengalaman cukup lama dan dikelola dengan sumber daya serta tim manajemen yang terorganisasi dan berkompeten di bidangnya. konsumen selalu beranggapan jika kualitas dari suatu jasa bagus, produk dan jasa bagus pula. maka dari itu, konsumen akan loyal terhadap layanan internet ticketing dan terus menggunakannya. implementasi promosi e-ticketing terhadap kepuasan konsumen secara simultan berdampak pada loyalitas pelanggan. jika promosi suatu produk atau jasa baik, jasa dan produk tersebut harus memiliki kualitas yang baik pula. kualitas yang baik, kemudian, akan menimbulkan loyalitas konsumen. konsumen akan percaya dengan layanan jasa e-ticketing pt kem travel jika perusahaan memberikan pelayanan yang baik. setelah konsumen puas, maka loyalitas akan muncul dari konsumen. simpulan berdasarkan analisis hasil pengolahan data, penelitian menyimpulkan bahwa perusahaan harus lebih meningkatkan promosi e-ticketing layanannya sehingga dapat menarik minat konsumen dan meningkatkan loyalitas pelanggan. selain itu, simpulan yang berkaitan dengan tujuan penelitian dan juga implikasi penelitian adalah sebagai berikut. pertama, pengaruh promosi e-ticketing dari website dan media sosial signifikan dan positif terhadap kepuasan konsumen dari layanan promosi eticketing. promosi yang menarik akan menarik minat dan meningkatkan kepuasan konsumen/pelanggan yang menggunakan jasa kem travel. kedua, promosi e-ticketing berdampak pada loyalitas pelanggan, sehingga memiliki pengaruh yang signifikan dan positif terhadap kepuasan konsumen. promosi yang berhasil menarik minat konsumen dapat menimbulkan loyalitas pelanggan yang pada akhirnya akan melakukan pembelian dan menggunakan e-ticketing melalui pt kem promosi e-ticketing terhadap..... (lindyastuti maniek) 47 travel secara berulang. ketiga, kepuasan konsumen memiliki pengaruh yang signifikan terhadap loyalitas pelanggan. konsumen yang puas dengan kualitas jasa akan loyal terhadap layanan internet ticketing dan terus menggunakannya. keempat, promosi e-ticketing terhadap kepuasan konsumen secara simultan memiliki dampak pada loyalitas pelanggan. setelah konsumen puas dengan layanan jasa e-ticketing kem travel, maka konsumen akan loyal terhadap perusahaan. saran berdasarkan hasil penelitian ini, saran penelitian diberikan untuk dua pihak, yaitu bagi perusahaan (pt kem travel) dan bagi penelitian selanjutnya. bagi kem travel, pertama, perusahaan sebaiknya lebih berfokus pada promosi e-ticketing yang akan memberikan persepsi atau tanggapan lebih terhadap loyalitas pelanggan e-ticketing kem travel. kedua, perusahaan sebaiknya berfokus pula terhadap loyalitas pelanggan walaupun perusahaan memiliki anggapan konsumen sudah percaya terhadap kinerja kualitas jasa e-ticketing. bagi penelitian selanjutnya, pertama, penelitian selanjutnya dapat mencari tahu promosi yang harus digunakan oleh perusahaan dalam mempromosikan layanan online ticketing kem travel. kedua, penelitian juga dapat mencari tahu cara mengembalikan kepercayaan konsumen yang kecewa terhadap layanan online ticketing kem travel. daftar pustaka abeyratne, r. (2005). electronic ticketing in air transport-commercial strategies and consequences. journal of world trade, 39(6), 1095–1118. buhalis, d. (2004). eairlines: strategic and tactical use of icts in the airlines industry. information and management, 41(7), 805–825. greve, h. r. (2009). bigger and safer: the diffusion of competitive advantage. strategic management journal, 30(1), 1–23. keller, w. (2004). international technology diffusion. journal of economic literature. 42(3), 752– 782. riduwan & kuncoro, e. a. (2007). cara menggunakan dan memaknai analisis jalur (path analysis). bandung: alfabeta. riduwan. (2004). metode dan teknik menyusun tesis. bandung: alfabeta. sugiyono. (2011). metode penelitian kuantitatif kualitatif dan r&d. bandung: alfabeta. sugiyono. (2009). metode penelitian bisnis. bandung: alfabeta. transfer of training..... (surachman surjaatmadja) 159 transfer of training in indonesia state-owned entreprises to face the asean economic community 2015 surachman surjaatmadja faculty of economics, universitas bung karno jln. pegangsaan timur no. 17, jakarta pusat 10310, dki jakarta isur.atmadja@gmail.com abstract the purpose of this paper is to provide an overview of the theoretical importance of transfer of training for state-owned enterprises (soes) in indonesia in order to face the asean economic community 2015. this paper is a pre-research paper for the influence of transfer of training towards firm performance. it applied a library research with secondary data analyzing literature about transfer of training and gagné’s five learned capabilities. the expected result was the existence of a specific training system for soes in indonesia for there are very diverse areas of state-owned enterprises in indonesia. the end goal is indonesia state-owned enterprises have better competitiveness in global market. keywords: transfer of training, learning outcomes, training, competitiveness abstrak makalah bertujuan untuk memberikan gambaran teoretis tentang pentingnya transfer pelatihan untuk bumn di indonesia dalam rangka menghadapi masyarakat ekonomi asean pada 2015 (asean economic community 2015). artikel ini merupakan tulisan prapenelitian tentang pengaruh transfer pelatihan terhadap kinerja perusahaan. artikel menggunakan metode studi pustaka dengan data sekunder yang menganalisis literature tentang transfer pelatihan dan lima kemampuan belajar gagné. hasil yang diharapkan adalah adanya sistem pelatihan khusus untuk bumn di indonesia karena sangat beragamnya bumn di indonesia. tujuan akhir adalah untuk bumn indonesia memiliki daya saing yang lebih baik di pasar global. kata kunci: transfer pelatihan, hasil belajar, pelatihan, daya saing mailto:isur.atmadja@gmail.com 160 journal the winners, vol. 15 no. 2, september 2014: 159-164 introduction the development of technology is growing rapidly, as well as changes to condition of the world economy that is increasingly uncertain. such condition demands a state to improve the quality of its human resources. one of the most important elements in order to improve the progress of a nation is the quality of its human resources. education and training of human resources is a strategic means to improve the quality of human resources of a nation, company, or organization. then the strength of the competitiveness of a company can be measured by the progress of educated human resources through a variety of trainings. the success of a few companies in the world is inseparable from the progress at the start of its human resources, education, and training, so is the state-owned enterprises (soes) in indonesia. indonesia has 140 state-owned enterprises which consist of 13 sectors, ranging from agriculture, forestry, plantation, mining, processing, information systems, water and air, construction, trade, hotels, transport, electricity and gas, banking and finance, real estate and consulting services (act no. 19, 2003). nevertheless, in fact, the education and training system in indonesia state-owned enterprises has not shown the expected success. education and training resources in indonesia state-owned enterprises still have not succeeded in creating reliable human resources (hr), and moreover, to increase company’s quality level into a world-class business entity. this can generally be seen from the depreciation of the human development index (hdi) of indonesia. seen from ranking of the competitiveness of indonesia, the national development planning (bappenas, 2012) mentions that among the asean countries, after singapore, the country's highest ranking of competitiveness in 2012 is malaysia (25), followed by brunei darussalam (28) and thailand (38). furthermore, indonesia is the fourth (50). timor-leste is the last (136). the asean countries that experienced the largest increase in competitiveness index since 2008 are cambodia (24), brunei darussalam (11), philippines (6), indonesia (5), and singapore (3). as for malaysia, thailand, vietnam, and timor-leste experienced a decline in the competitiveness ranking for 2008–2012. table 1 shows the asean index of competitiveness ranking for 2008–2012. table 1 asean index of competitiveness ranking for 2008–2012 no. state 2008 2012 fluctuation 1 singapore 5 2 3 2 malaysia 21 25 -4 3 brunei darussalam 39 28 11 4 thailand 34 38 -4 5 indonesia 55 50 5 6 philipine 71 65 6 7 vietnam 70 75 -5 8 cambodia 109 85 24 9 timor-leste 129 136 -7 (source: undp, 2012) one of the disadvantages of the system of education and training in indonesia state-owned enterprises, or maybe in some companies, in indonesia is company has not cultivated yet the transfer of training result from employee trainees to their work fields. transfer means that learners/trainees are able to “transfer” their knowledge and skills learned in a training session back to their jobs. the importance of training result transfer cannot be overemphasized. organizations spend billions of transfer of training..... (surachman surjaatmadja) 161 dollars each year on training, yet only a fraction of those investments results in improved performance if training transfer is not supported by the employer. (society for human resources management, 2008) method given such conditions, this paper is a preliminary research for the effect of training result transfer on firm performance. this paper applies a library research (literature study) with secondary data. it analyzes transfer of training (baldwin & ford, 1988; holding, 199; noe, 2013) and gagné’s five learned capabilities (gagné & medsker, 1996). this article provides a theoretical overview of the importance of transfer of training for indonesia state-owned enterprises. the transfer is important as indonesia will be facing asean economic community in 2015. this preliminary research will result in conclusion and some recommendations. discussion noe (2013) explained that transfer of training refers to trainers effectively and continually applying what they have learned in training to their jobs. meanwhile, baldwin and ford (1988) stated that the success of an employee for the transfer of training results carried out in her/his work is influenced by several things, including: trainee characteristics, training design, work environment, learning process, and transfer of training. those three things (trainee characteristics, training design, and work environment) influence the atmosphere of the process of learning or training for employees which will affect employees in order to apply the results of her/his training through employment. transfer of learning outcomes and training conducted by employees will be applied through employment with a process of generalization and maintenance. generalization refers to the ability of employees in applying what they learned when training as a process of learning that in general they will apply on its work in accordance with the situation and the problems encountered. therefore, designing a training similar to the problem and the job situation in employees’ working environment is very important as part of employee training system. because indonesia stateowned enterprises (there are 140 in indonesia state-owned enterprises from 13 sectors) are varied, the design of training in accordance with the working environment in indonesia state-owned enterprises will be different and come in various design trainings. the design of training of indonesia state-owned enterprises in the field of land transport will be different with sea or air transport. the training design of indonesia state-owned enterprises in agriculture sector will differ from the indonesia state-owned enterprises in plantations, fisheries, forestry sector, etc. the characteristics of the participants are in regard to the results (outcomes) of the learning process when training. these outcomes relate to the requirements needed by employees who will attend training in order to increase their performance after training. as a trainee, s/he shall deeply know about the outcomes that will be generated after the training will be an increase in intellectual skills. including these characteristics, basic skills which are owned by trainee employees are cognitive ability, potential, learning motivation, enthusiasm, etc. (noe, 2013) the design of the training is how to create a learning environment that can help trainees acquire the results of this training pursuant to the goal of the increasing performance of their job. furthermore, the training material is in accordance with the line of work. work environment relates to many things, such as climate or mood of the work physically and non-physics. the atmosphere of 162 journal the winners, vol. 15 no. 2, september 2014: 159-164 physical work relates to the physical equipment used in employee’s work. it is supposed to be fit and/or support for transfer of training; for example, whether the results of the training are supported by adequate equipment to improve performance. non-working physical atmosphere can be exemplified as work culture, leadership, management, mission of the company, etc. in a schema, the relations between variables above are described in figure 1. figure 1 relations between learner characteristics, intervention design, work environment, and performance (source: society for human resources management, 2008) observing those three things that affect the process of the transfer of the training, indonesia state-owned enterprises would like to be a company that can compete in global marketplace. it is mandatory to begin identification in accordance with the characteristics of the existing indonesia state-owned enterprises. although to date the identification may already have been done, it needs continuous improvement of the process of transfer of training for the size of global rate. keywords from all of the above described are the process of learning when training and learning outcomes which apply on the job (learning process and the transfer of learning or learned or learning outcomes). gagné and medsker (1996) stated there are 5 learning outcomes which can be described and can be given for example when applied. table 2 shows five learned capabilities. table 2 gagné's five learned capabilities no. learning outcomes types description of ability examples 1 verbal information can be suggested and state. can explain in detail, the work that has been done. be able to recall the information. mention three reasons work safety procedures. 2 intellectual skill can apply a concept to resolve the issue can create something new. designing computer programs to meet the demands of the customer’s requirements. 3 motor skill can make the decision taken accurately. shoot the target with precision 4 attitudes personality and can manage culturally willing to serve 24 hours 5 cognitive strategies appropriate learning and thinking. diagnosing errors that occur and devise at least three strategies solving (source: gagné & medsker, 1996) transfer of training..... (surachman surjaatmadja) 163 verbal information is the verbal information which accepted by someone. verbal information includes labels and fact and bodies of knowledge. labels and fact refers to naming and signing of special verbal information responds which accepted by receptor organ of human being (a specific input). bodies of knowledge refer to reminding of information or experiences to recall for connected with reality reface. intellectual skill includes discriminant, concrete concept, rule using, and problem solving. generally it is called “gagné identified taxonomy”. discriminant is someone’s ability to differ responds and stimuli accepted. different stimuli will be responded in different action. concrete concept is ability to respond the stimuli accepted by someone and it will be individual interests, such as: someone like jazz, country, pop music, etc. rule using is response of someone for an activity by understanding rules and applying rules which s/he accepts and understands. the rules are as same as a situation and condition faced. problem solving is combination of understanding rules level used for problem solving in unpredictable situation. problem solving in process probably emerges new ideas to solve the problem with trial and error. motor skill refers to physical movement with muscles. physical movement is a form of response for accepted stimuli to do something. attitude(s) is the state of a person when responding stimuli received, but are not implemented yet still awaiting consideration before implemented. attitude also means an internal state which affects an individual's choice of action toward some objects. moreover, cognitive strategy is an internal process in an effort to control individuals in the process of thinking and learning from what they received. furthermore, learning outcomes are obtained from the process of learning. when learning outcomes are transferred into work area of an employee, s/he is expected to improve employee and work performance that will ultimately improve organization performance. the explanation about how each individual responds to what is received, then how an individual’s response to it is in accordance with gagné's five learned capabilities (gagné & medsker, 1996). specifically, holding (1991) stated that training occurs whenever the effects of prior learning influence the performance of later activities. transfer of training refers to the knowledge and abilities of oneself in resolving the problem. the success rate of employees in applying the transfer of training is influenced also by the officers’ skill level in creating training situations as if equal to the job situation at hand (baldwin & ford, 1988). moreover, baldwin and ford (1988) defined that it reflects an industry/organization in psychology perspective. a psychologist might be interested in how trainees’ motivation to transfer related to later job performance. the training domain (e.g. a web-based training program) might be very different from the later 'activity' domain (e.g. job performance). there are three types of transfer of training according to baldwin and ford (1988). positive transfer is when prior learning or training facilitates to acquire a new skill or to reach the solution to a new problem. in this situation, the individual performs better than before having the prior training. negative transfer is when prior learning or training hinders to acquire a new skill or to reach the solution to a new problem. in this situation, the individual performs worse than after having the prior training. zero transfer is when past experience or training neither enhances nor hinders to acquire a new skill or to reach the solution to a new problem. from those three types of transfer of learning, the positive transfer is expected. the ideal training facilities used can provide new skills for the participants. so that, when they completed the training and applying it in their work, they will perform better than before training. the second type of situation (negative transfer), after given training, employees should look for them how to resolve problems encountered in the improvements. the third type is when the training undertaken by employees has no impact on their work. it means the training does not result in performance. 164 journal the winners, vol. 15 no. 2, september 2014: 159-164 conclusion based on this preliminary research, it concludes as follows. transfer of training is expected to be applied, when factors that affect the transfer of training are understood. the factors that affect the transfer of training include trainee characteristics, design of training, work environment, and process of learning. trainees can identify capabilities of individuals in receiving information from training and have an ability to transfer what is acquired during the training. the capabilities of each individual in order to perform the transfer of training are verbal ability information, intellectual skill, motor skill, attitude, and cognitive strategies. transfer of training results is expected to be positive transfer. positive transfer conducted by the indonesian state owned enterprises will increase competitiveness in the global market. moreover, this paper has some recommendations. understanding the theory of transfer of training will help hr department in the company prepare the training more in line with the needs of the job. the hr department should attempt to involve stakeholders in investing capitals for training. cooperation among stakeholders to achieve the objectives of the company through training and transfer of training is very important. training is an investment as a profit center, not a cost center. clarity of performance to be achieved by organization and by individual members of the organization should be clearly understood and implemented. assigning employees who really have willingness and motivation to learn or have training is the right step. to deal with the asean economic community 2015, indonesia state-owned enterprises must understand the transfer of training to enhance company's competitiveness in global market. references baldwin, t.t., & ford, k.j. (1988). transfer of training: a review and directions for future research. personnel psychology, 41(1), 63–105. bappenas republik indonesia. (2012). peringkat daya saing negara-negara asean. jakarta: bappenas ri. gagné, r., & medsker, k. (1996). the conditions of learning: training applications. fort worth, tx: hbj college publishers. holding, d. h. (1991). principles of training. new york: pergamon. kementerian bumn republik indonesia. (2003). undang-undang no. 19 tahun 2003 tentang badan usaha milik negara. jakarta. noe, r. a. (2013). employee training and development (6th ed). singapore: mcgraw hill. society for human resources management. (2008). transfer of training (presentation slide). new york: shrm. united nations development program (undp). (2012). perkembangan peringkat human development indonesia. hdr, jakarta. microsoft word 01_adi cahyadi_e-government.doc e-government: suatu tinjauan konsep dan permasalahan (adi cahyadi) 1 e-government: suatu tinjauan konsep dan permasalahan adi cahyadi1 abstract like any other e-business terms, e-government is a term most likely to be over-exploited and this will tend to create a miss-perception in the way government and public views this emerging business concept. this relatively simple and short article tries to present in more detail to its readers the true concept of e-government. furthermore, this article will also explain the slow adoption rate of e-government in a developing country such as indonesia and offered a short term solution that is deemed appropriate. keyword: e-government abstrak istilah e-government, seperti juga istilah e-bisnis yang lain, memiliki resiko untuk dieksploitasi secara berlebihan sehingga membuatnya menjadi rancu. artikel yang relatif sederhana ini mencoba meluruskan persepsi yang keliru mengenai e-government sekaligus mengupas secara lebih mendetail konsep e-government itu sendiri. lebih jauh, artikel ini mengajak pembaca untuk melihat kendala dan hambatan yang dihadapi oleh negara sedang berkembang seperti indonesia dalam mengimplementasikan konsep ini serta menawarkan beberapa solusi sementara yang dianggap tepat. kata kunci: e-government 1 staf pengajar universitas trisakti & ubinus, jakarta journal the winners, vol. 4 no. 1, maret 2003: 1-12 2 pendahuluan latar belakang dan konsep e-government merupakan suatu istilah yang masih baru bagi masyarakat di kebanyakan negara berkembang. seringkali bahkan, istilah itu disalahartikan. secara konseptual, e-government sebetulnya bukan merupakan sesuatu yang baru. pemerintah di banyak negara, baik negara maju maupun negara sedang berkembang, telah sejak lama menggunakan sistem komputer untuk membantu dan mendukung pekerjaan administrasi dan pengolahan data yang kesemuanya bermuara pada pelayanan masyarakat (public service). perbedaan yang mencolok antara konsep egovernment yang dikenal sekarang dengan penerapannya pada masa lalu terletak pada cakupan penggunaan sistem komputer/informasi dalam melayani baik masyarakat maupun stake holders lainnya (karyawan/pegawai, departemen/lembaga pemerintah lainnya, organisasi swasta, dan sebagainya). penggunaan sistem komputer/informasi di lembaga/organisasi pemerintah biasanya ditujukan untuk mempercepat dan mengefisienkan proses administrasi, pencarian, dan pengolahan data yang berakibat pada meningkatnya kualitas pelayanan masyarakat. dengan kata lain, sistem komputer/informasi di lembaga tersebut difokuskan sebagai alat bantu pegawai pemerintah dalam melayani masyarakat. seiring dengan berjalannya waktu, penerapan sistem informasi itu ternyata memberikan hasil yang beragam. di negara maju, penerapan sistem informasi dalam suatu organisasi terutama yang berorientasi keuntungan (profit oriented) membuahkan hasil yang cukup positif. banyak diantaranya mencatat peningkatan dalam volume penjualan bahkan banyak pula yang mencatat peningkatan efisiensi baik dalam proses produksi maupun pemasaran. bagi organisasi nir-laba, terutamanya pemerintah, keuntungan yang dicatat tidaklah sejelas dan sebanyak organisasi bisnis. kebanyakan organisasi pemerintah yang menerapkan sistem informasi dalam pelayanan publik mencatat efisiensi waktu dan biaya yang cukup signifikan namun terbatas hal itu disebabkan oleh rantai birokrasi dan otorisasi yang masih relatif panjang. hasil yang lebih memprihatinkan dapat dilihat dari kasus negara berkembang dan banyak organisasi pemerintah di negara tersebut gagal mencapai peningkatan kualitas pelayanan publik yang signifikan kendati menggunakan sistem komputer/informasi yang memadai. banyak pihak dari kalangan akademis, analis, dan pelaku bisnis berpendapat bahwa kegagalan tersebut diakibatkan terutamanya dari kegagalan manajemen organisasi tersebut dalam membentuk budaya dan etika kerja yang kondusif. tanpa adanya budaya dan etika kerja yang kondusif yang ditandai dengan maraknya praktek korupsi dan rendahnya semangat kerja, sistem informasi yang secanggih apapun tidak mungkin membuahkan hasil yang diharapkan. masalah yang bermuara pada kualitas sumber daya manusia telah lama menjadi batu sandungan bagi peningkatan efisiensi dan mutu pelayanan lembaga pemerintahan di banyak negara (terutama negara berkembang). solusi dan pemecahan masalah itu tidaklah mudah dan cenderung bersifat jangka panjang. sulitnya memecahkan masalah yang sangat serius itu membuahkan berbagai usaha untuk mencari alternatif solusi yang berjangka pendek. salah satu solusi yang sedang giat dikembangkan dewasa ini adalah penerapan e-government. dalam e-government, sistem informasi/komputer tidak hanya digunakan sebagai alat pendukung dalam melayani masyarakat (gambar 1) tetapi juga difungsikan sebagai pelayan itu e-government: suatu tinjauan konsep dan permasalahan (adi cahyadi) 3 sendiri (gambar 2). dalam konsep itu, masyarakat diberi pilihan untuk berinteraksi dengan manusia (pegawai pemerintah) atau dengan komputer (lewat situs lembaga pemerintah di internet). dengan diperluasnya fungsi sistem informasi tersebut, diharapkan praktik yang merugikan masyarakat maupun negara yang bersumber dari lemahnya etika dan buruknya budaya kerja pegawai dapat dikurangi. gambar 1 fungsi tradisional sistem informasi sebagai pendukung pelayanan masyarakat journal the winners, vol. 4 no. 1, maret 2003: 1-12 4 gambar 2 fungsi sistem informasi sebagai pelayan masyarakat dalam konsep e-government definisi dan ruang lingkup menurut world bank, e-government didefinisikan sebagai “penggunaan/pemanfaatan teknologi informasi oleh lembaga pemerintah untuk meningkatkan pelayanan pada masyarakat, pelaku bisnis, dan sekaligus menfasilitasi kerja sama dengan lembaga pemerintah lainnya”. lebih lanjut, menurut world bank, e-government harus diarahkan pada pemberdayaan masyarakat melalui akses yang luas terhadap informasi yang tersedia. berdasarkan definisi di atas, dapat disimpulkan bahwa e-government memiliki cakupan atau ruang lingkup yang cukup luas, bukan saja meliputi seluruh unit dalam suatu organisasi pemerintah tetapi juga mencakup mitra kerjanya (stakeholders) yang terdiri dari berikut ini. 1. karyawan/pegawai lembaga pemerintah tersebut 2. anggota masyarakat 3. pelaku bisnis 4. lembaga pemerintah lainnya 5. pemasok/pembekal alat-alat kantor dan sebagainya dalam konsep e-government, kelima jenis mitra kerja itu berinteraksi dengan lembaga pemerintah melalui jaringan sistem informasi/komputer seperti yang dapat dilihat pada gambar 3 di bawah ini. e-government: suatu tinjauan konsep dan permasalahan (adi cahyadi) 5 gambar 3 ruang lingkup interaksi e-government pembahasan model (bentuk) e-governance e-government bukanlah suatu konsep yang begitu saja dapat diimplementasikan atau diterapkan. penerapan e-government memerlukan perubahan baik dari segi proses bisnis (business process reengineering) maupun struktur organisasi. banyak penulis dan lembaga konsultan mencoba mendesain model/bentuk organisasi yang baru itu namun sampai sekarangpun masih belum ditemukan suatu bentuk baku yang dapat dipakai di seluruh organisasi pemerintah yang ada. hal itu disebabkan oleh keunikan masing-masing organisasi baik ditinjau dari segi struktur, core business, maupun stakeholder-nya. bentuk/model e-government yang diusulkan oleh peoplesoft consulting division yang ditampilkan pada tulisan ini adalah model e-government skala nasional dan dalam model ini suatu pemerintahan yang ingin mentransformasikan dirinya kepada suatu bentuk e-government harus memiliki komponen seperti berikut. 1. kepemimpinan eksekutif (executive leadership). fungsi kepemimpinan dalam program egovernment skala nasional terletak di pundak kepala pemerintahan yang bertugas memberi arah menetapkan tujuan dan sasaran umum program e-government nasional sekaligus menetapkan standar teknologi yang harus dipakai oleh setiap lembaga pemerintah yang berada di bawah kendalinya. chief executive officer yang dalam hal ini diperankan oleh kepala pemerintahan/negara dapat mendelegasikan sebagian kewenangannya kepada seorang pejabat pemerintah yang berperan sebagai seorang chief information officer yang melaksanakan dan mengawasi operasi sehari-hari program e-government nasional itu. journal the winners, vol. 4 no. 1, maret 2003: 1-12 6 2. keikutsertaan otoritas legislatif dan otoritas lain berdasarkan yurisdiksi. wakil lembaga legislatif harus diikutsertakan sebagai mitra pemerintah dalam mengawasi dan mengarahkan perkembangan program e-government baik dalam lingkup nasional maupun regional. wakil instansi pemerintah juga perlu diikutsertakan mengingat merekalah yang mewakili penanggung jawab operasional e-government pada masing-masing instansi. 3. penasehat teknologi informasi (it advisor). suatu lembaga yang berperan sebagai pemikir masalah teknologi informasi (it think tank) perlu dibentuk atau ditetapkan. fungsi lembaga itu adalah memberikan saran dan masukan yang bersifat teknis dalam rangka pengembangan kepada lembaga pemerintah yang menjalankan program itu. 4. pengelola pada tingkat lembaga/organisasi (enterprise level governance boards). bertanggung-jawab terhadap investasi aplikasi maupun infrastruktur di masing-masing lembaga. 5. pengawas dan pengendali teknis (technical oversight boards). bertanggung-jawab terhadap operasi dan kesiapan jaringan sistem informasi serta konsistensi kerja aplikasi. kelima komponen itu saling mendukung, berinteraksi, serta mendapatkan masukan dari berbagai pihak seperti masyarakat (crm constituent group), kalangan swasta (private sector advisor), dan wakil lembaga legislatif dan lembaga pemerintah terkait (lihat gambar 4). gambar 4 bagan interaksi komponen dalam model e-government skala nasional e-government: suatu tinjauan konsep dan permasalahan (adi cahyadi) 7 manfaat penerapan konsep e-government beberapa manfaat yang diharapkan dari implementasi konsep e-government dilihat dari berbagai sisi antara lain sebagai berikut. 1. dari sisi lembaga (organisasi) manfaat yang diharapkan dari sisi lembaga atau organisasi antara lain penghematan biaya melayani masyarakat yang timbul antara lain akibat penghematan dalam pemakaian kertas (paperless transaction), sumber daya manusia (office automation) dan waktu, meningkatnya kemampuan lembaga pemerintah dalam tukar-menukar informasi dan data (information sharing). 2. dari sisi masyarakat (konsumen) manfaat yang diharapkan diterima masyarakat berupa pelayanan dan pemberian informasi yang lebih cepat, akses yang cepat terhadap dokumen dan formulir elektronik, pelayanan masyarakat yang terus-menerus (24 jam sehari), meningkatnya kemampuan melayani diri sendiri (self service), meningkatnya kemampuan untuk mencari informasi, meluasnya akses terhadap informasi, dan sebagainya. faktor kritis pendukung kesuksesan e-government untuk mencapai manfaat yang telah disinggung sebelumnya, lembaga pemerintah yang berencana atau sedang mengimplementasikan konsep e-government harus memperhatikan beberapa faktor yang sangat vital bagi kelangsungan bahkan kesinambungan program egovernment-nya. faktor kritis tersebut antara lain sebagai berikut. 1. dukungan yang luas baik dari manajer/pejabat puncak (pengambil keputusan) maupun manajer/pejabat di level operasional. 2. kemauan untuk mengubah cara/metode bekerja sama, membagi, dan mengelola data dan jasa dari lembaga pemerintah. 3. kemampuan untuk memperbaiki budaya kerja, keahlian, dan peraturan yang menyangkut administrasi pemerintahan dan pembiayaan pada setiap lembaga pemerintah dalam rangka mendukung implementasi e-government. 4. memulai implementasi dari skala kecil dan berkembang sesuai dengan permintaan masyarakat, tingkat penggunaan (adoption rate), dan tingkat penerimaan (acceptability rate). 5. menciptakan keadilan dalam akses terhadap informasi dan jasa. 6. membangun fasilitas teknologi informasi dan peraturan pendukung dalam rangka menjamin keamanan dan kerahasiaan data setiap anggota masyarakat. 7. adanya tingkat keahlian dan infrastruktur teknologi informasi yang memadai. kendala dan hambatan: kasus indonesia e-government, seperti juga semua konsep transaksi yang dilakukan melalui jaringan sistem informasi, memerlukan prasyarat bagi terlaksananya program tersebut dengan sukses (lihat bagian faktor kritis). secara realitas, implementasi e-government berkembang dengan kecepatan yang berbeda-beda. hal itu disebabkan oleh banyak faktor di luar kendali lembaga pemerintah yang menjalankan program ini. faktor dan hambatan yang jamak dihadapi oleh negara berkembang seperti indonesia antara lain sebagai berikut. journal the winners, vol. 4 no. 1, maret 2003: 1-12 8 1. tingkat endapatan per kapita yang rendah. tingkat pendapatan per kapita yang rendah menyebabkan kebanyakan masyarakat berada di luar jangkauan teknologi informasi yang interaktif (seperti internet, tv interaktif, dan sebagainya). 2. tingkat pengetahuan teknologi informasi yang rendah (low it literacy rate) menyebabkan sebagian besar masyarakat kurang memahami bahkan menyadari manfaat bertransaksi secara online. hal itu juga menghambat pertumbuhan dan pengembangan aplikasi ti di negara tersebut. 3. tingkat penetrasi komputer pribadi (pc) yang rendah menyebabkan banyak masyarakat belum dapat mengakses internet. 4. tingkat penetrasi internet yang rendah menyebabkan banyak anggota masyarakat berada di luar jangkauan informasi terkini yang bersifat nasional maupun global. 5. infrastruktur teknologi informasi yang masih kurang memadai (bentangan kabel serat optik yang masih minim, jaringan komunikasi dengan kapasitas transfer data (bandwidth) yang masih rendah, dan sebagainya. 6. belum adanya perlindungan yang memadai secara undang-undang untuk transaksi yang dilakukan melalui jaringan elektronik (internet, wireless, dan sebagainya). fakta itu didukung oleh hasil riset yang berjudul “benchmarking e-government: a global perspective” yang dilakukan oleh united nations division for public economics and public administration/dpepa (suatu lembaga di bawah naungan pbb). riset itu ditujukan untuk mengukur kesiapan masing-masing negara anggota pbb dalam menerapkan e-government. dalam riset itu, dpepa menggunakan seperangkat indikator untuk menghasilkan suatu indeks yang menunjukkan kesiapan masing-masing negara. indeks itu diberi nama e-government index. adapun indikator yang dipakai dalam pengukuran (benchmarking) itu antara lain sebagai berikut. 1. jumlah pc per 100 orang. indikator ini digunakan karena pc (komputer pribadi) merupakan alat yang biasa digunakan anggota masyarakat untuk mengakses internet. 2. jumlah host internet per 10.000 orang. indikator itu digunakan untuk mengukur tingkat penetrasi internet, logikanya semakin banyak host internet/internet provider semakin besar peluang anggota masyarakat untuk mengakses internet. 3. persentase penduduk suatu negara yang telah terhubung dengan internet (online). 4. sambungan telepon per 1.000 penduduk. berhubung kebanyakan anggota masyarakat terhubung dengan internet melalui jaringan telepon, semakin besar indikator ini semakin besar pula peluang masyarakat untuk mengakses internet. 5. jumlah telepon genggam per 100 penduduk. indikator itu menunjukkan potensi suatu negara dalam menerapkan wireless transaction (transaksi nir-kabel) baik yang dilakukan antara masyarakat dengan perusahaam (mobile commerce) maupun yang dilakukan antara masyarakat dengan pemerintah (mobile government/public service). 6. jumlah televisi per 1.000 penduduk. indikator itu menunjukkan potensi/prospek suatu negara dalam menerapkan teknologi web tv (menggunakan televisi sebagai sarana untuk mengakses internet). hal itu dianggap penting karena tingkat pemilikan televisi jauh di atas tingkat pemilikan komputer pribadi baik di negara maju maupun di negara berkembang. 7. web presence index. indeks yang mengukur sejauh mana penerapan e-government diukur dari tingkat pengembangan situs dan intergrasi sistem informasi lembaga pemerintah. 8. human development index. indeks yang mengukur sejauh mana kesiapan sumber daya manusia dalam hal keahlian dan penguasaan teknologi informasi. e-government: suatu tinjauan konsep dan permasalahan (adi cahyadi) 9 9. persentasi penduduk kota terhadap total populasi. indikator ini diperlukan untuk mengukur potensi adopsi konsep e-government berhubung penduduk kota dianggap sebagai bagian penduduk suatu negara yang paling cepat mengadopsi teknologi. hasil pengukuran menggunakan indikator di atas dapat dilihat pada tabel 1 yang disajikan di halaman 15. tabel itu menunjukkan index e-government negara anggota pbb yang digolongkan ke dalam negara yang memiliki kapasitas e-government yang minimal (indeks 1.00 – 1.59). terlihat bahwa posisi indonesia (1.34) masih relatif di bawah negara asia tenggara lain (brunei = 1.59, philipine = 1.44) kecuali vietnam (1.10). fakta yang lebih memprihatinkan adalah kenyataan bahwa walaupun skor indonesia lebih tinggi dibandingkan vietnam (yang memang wajar mengingat bahwa vietnam merupakan negara yang baru saja membuka dirinya terhadap investasi luar), pada beberapa indikator seperti human development index, sambungan telepon per 100 penduduk dan jumlah tv per 1000 penduduk, vietnam menunjukkan keunggulannya. kondisi dan solusi sementara bagi indonesia pertanyaan yang timbul dari menyimak fakta di atas adalah bagaimana mengimplementasikan e-government dengan kendala dan hambatan yang ada. untuk menjawab pertanyaan tersebut, perlu melihat sejauh mana penerapan e-government di indonesia. pbb melalui dpepa mengkategorikan tahap pengembangan e-government menjadi beberapa tahap yang dapat dilihat pada gambar 5 di bawah ini. gambar 5 tahapan e-government. sumber: benchmarking e-government: a global perspective, united nations division for public economic, and public administration and administration society for public administration tahap emerging, yaitu tahap ketika kehadiran suatu lembaga pemerintah di internet diwakili oleh beberapa situs resmi lembaga pemerintah yang memberikan informasi yang bersifat mendasar, terbatas, dan statis. tahap enhanced, yaitu tahap ketika isi (konten) situs diperbarui secara berkala dan teratur. tahap interactive, yaitu tahap ketika pengunjung dapat men-download formulir elektronik, mengontak pegawai/pejabat pemerintah, dan membuat perjanjian (appointment), dan melayangkan permohonan secara elektronik. tahap transactional. pengunjung dapat melakukan pembayaran atas jasa atau melakukan transaksi finansial dengan lembaga pemerintah secara online. tahap seamless. integrasi total fungsi dan jasa pemerintah lintas batas administratif dan departemental. journal the winners, vol. 4 no. 1, maret 2003: 1-12 10 tahap-tahap pengembangan e-government ini digunakan oleh dpepa dalam mengkategorikan negara-negara anggota pbb. dimana indonesia masuk kedalam kategori negaranegara yang berada pada tahap enhanced. kenyataan di lapangan menunjukkan adanya usaha dan kecenderungan lembaga pemerintah untuk beralih dari tahap enhanced menjadi tahap interactive dan bahkan tahap transactional. hal itu ditunjukkan oleh semakin menjamurnya pemakaian chat room (fasilitas komunikasi online melalui teks yang diketikkan dan terlihat pada layar komputer), formulir online, dan e-mail pada situs lembaga pemerintah. beberapa lembaga pemerintah bahkan berencana membangun fasiltas transaksi online seperti yang akan dilakukan oleh direktorat jenderal pajak dalam rangka membangun sistem pemungutan dan pembayaran pajak secara elektronik. banyak lembaga pemerintah baik pada tingkat pusat maupun daerah berlomba-lomba untuk membangun situs interaktif yang menyediakan berbagai macam fasilitas pada pengunjungnya bahkan terlihat semacam kecenderungan untuk menjadikan e-government sebagai suatu peluang untuk menciptakan proyek (onno w. purbo). secara sepintas, perlombaan itu terlihat positif bagi pengembangan e-government di tanah air namun melihat keterbatasan yang dimiliki baik dari segi infrastruktur maupun kesiapan masyarakat, kecenderungan itu dapat menimbulkan dampak yang negatif berupa antara lain sebagai berikut. 1. investasi teknologi informasi yang tidak menghasilkan manfaat yang optimal akibat belum optimalnya pemakaian situs oleh masyarakat untuk berinteraksi dengan pemerintah. 2. lambatnya akses ke situs pemerintah akibat penggunaan komponen interaktif dan dinamis yang memerlukan kapasitas transmisi data yang tinggi sedangkan kapasitas (bandwidth) jaringan telepon yang dimiliki masyarakat masih sangat terbatas. masalah tersebut timbul akibat lalainya pemerintah dalam memperhatikan indikator kesiapan e-government-nya. kesiapan e-government (e-government readiness) suatu lembaga pemerintah tidak hanya diukur dari sejauh mana penguasaan teknologi para karyawannya, sebesar apa komitmen para pimpinannya, atau sebanyak apa anggaran yang dapat ia alokasikan (walaupun ketiga hal itu sangat penting) tetapi juga diukur dari sejauh mana kesiapan infrastruktur komunikasinya, kemampuan/daya beli, dan penguasaan teknologi masyarakatnya. pendekatan yang dapat ditempuh, mengingat hal tersebut adalah pendekatan pengembangan e-government, secara bertahap sesuai dengan permintaan masyarakat (e-government on demand) dan dalam pendekatan ini fasilitas dan informasi yang ditawarkan secara online melalui situs dikembangkan sesuai dengan permintaan dan perkembangan masyarakat. berdasarkan pendekatan itu, indonesia sebagai negara yang memiliki kapasitas egovernment yang minimal seyogyanya memulai usaha penerapan konsep e-government dengan membangun situs yang diarahkan/difokuskan pada distribusi informasi dan jasa untuk segmen masyarakat tertentu yang nantinya dapat dikembangkan untuk mencakup segmen masyarakat yg lebih luas (start small but think big). situs yang diluncurkan oleh lembaga pemerintah pada tahap awal model pendekatan ini diarahkan pada pemenuhan beberapa fungsi dasar antara lain sebagai berikut. 1. pemasyarakatan lembaga pemerintah beserta fungsi dan komponennya. 2. pembinaan dan pengarahan masyarakat dalam berinteraksi dengan lembaga pemerintah (misalnya dalam hal pembayaran pajak, pengurusan ktp, sim, dan sebagainya). 3. pembinaan dan pengarahan perusahaan dalam berinteraksi dengan lembaga pemerintah (misalnya dalam hal pengurusan/administrasi ekspor/impor, dan sebagainya). e-government: suatu tinjauan konsep dan permasalahan (adi cahyadi) 11 4. diseminasi informasi yang bersifat umum dan berdampak luas (kebijakan pemerintah dalam hal perpajakan, cukai dan bea masuk, pajak dan pungutan daerah, dan sebagainya). 5. diseminasi informasi yang membantu membangun citra lembaga pemerintah (berita terkini yg menyangkut kegiatan lembaga tersebut). 6. pembenahan lembaga pemerintah baik dari segi administrasi maupun sumber daya manusia. hal itu dilakukan dengan cara menampung keluhan dan masukan masyarakat terhadap jasa dan pelayanan publik yang diberikan oleh lembaga tersebut. 7. akses yang merata bagi masyarakat sehingga desain situs berikut aplikasi yang berjalan di dalamnya harus mempertimbangkan kemampuan penguasaan teknologi masyarakat yang ratarata masih relatif rendah. dengan diadopsinya pendekatan pengembangan e-government bertahap diharapkan pemerintah dapat lebih tepat mengalokasikan investasinya sehingga tidak merugikan sektor lain yang memerlukan perhatian yang lebih mendesak. tabel 1 indikator kesiapan e-government beberapa negara anggota pbb sumber: benchmarking e-government: a global perspective, united nations division for public economic and public administration & administration society for public administration (2001) journal the winners, vol. 4 no. 1, maret 2003: 1-12 12 daftar pustaka national office for the information economy (noie). 2002. commonwealth of australia and dmr consulting e-government benefits study. neu c., richard, anderson robert. h, and bikson. tora k. 1999. sending your government a message: e-mail communication between citizens and government. rand science & technology. new zealand government. 2001. report on new zealand e-government strategy. peoplesoft white paper series. 2001. guideline for building e-government, best practices for egovernment implementations. proudfoot, scott. 2003. weighing e-government. hillwatch inc. purbo, onno w. akankah e-government memecahkan masalah indonesia. un dpepa and american society for public administration. 2001. benchmarking egovernment: a global perspective, assessing the progress of the un member states. sampul 0701-0306.pmd economic, business, management, and information system journal vvvvvolume 7, nomor 1, maret 2006olume 7, nomor 1, maret 2006olume 7, nomor 1, maret 2006olume 7, nomor 1, maret 2006olume 7, nomor 1, maret 2006 issn: 1412 1212 pelindung prof. dr. gerardus polla, m.app.sc. redaktur utama parulian sihotang, ak., m.acc., ph.d. dewan redaksi antonius herusetya s.e., m.m., ak. misbahul munir, ak., mba ir. harjanto prabowo, m.m. mitra bestari dr. hekinus manao, m.acc., c.g.f.m. (universitas indonesia) dr. sudarwan, m.b.a., q.i.a. (universitas trisakti) dr. ir. roy sembel, m.b.a. (program pascasarjana universitas bina nusantara) edi timbul hardiyanto, s.e., ak., m.sc., m.b.a., b.a.p (institut pendidikan internal auditor indonesia) dr. suroso isnandar, m.sc. (university of abertay, united kingdom) marien van den boom, ph.d. (in holland university, the netherlands) editor dra. endang ernawati, m.lib. titik rahayu s., s.s. hernawati s., s.s sekretariat hery h.m., s.kom. holil angga ferdiansyah alamat sekretariat subcenter publikasi ilmiah bidang ekonomi, center for research and comunnity services, universitas bina nusantara jl. kemanggisan ilir iii no. 45, kemanggisan/ palmerah, jakarta barat 11480 telp. (021) 5327630 ext. 6129 fax. (021) 5300244 e-mail: heryhm@binus.ac.id issn 1412-1212 subcenter publikasi ilmiah bidang ekonomi universitas bina nusantara economic, business, management, and information system journal vvvvvolume 7, nomor 1, maret 2006olume 7, nomor 1, maret 2006olume 7, nomor 1, maret 2006olume 7, nomor 1, maret 2006olume 7, nomor 1, maret 2006 issn: 1412 1212 daftar isi kata pengantar...................................................................................................................................... v indra tjahjani analisis kecenderungan pemakaian portal ‘distribution store’ oleh kawula muda (analysis of portal usage tendency ‘distribution store’ by youngsters)........................................... 1-13 enggal sriwardiningsih; lydia angelia; lisa aulia pengaruh perilaku pembelian mahasiswa terhadap keputusan pembelian komputer notebook di lingkungan mahasiswa binus international (influence of student buying behaviour on notebook computer buying decision in the binus international undergraduate program student)........................................................ 14-25 antonius herusetya; hartiwi prabowo; synthia atas sari analisis pengaruh peminatan terhadap bidang kerja lulusan: studi kasus lulusan program studi s1 manajemen universitas bina nusantara tahun 2000 – 2004 (impact of management program study concentration on graduatied work field: a case study on program study of management bina nusantara university, graduation year 2000-2004)................................................................. 26-43 harjadi sarjono analisis evaluasi kinerja direktorat jenderal bina produksi holtikultura dengan pendekatan balanced scorecard (analysis of performance evaluation of the directorate general of holtikultura production development using balance scorecard perspective)............................ 44-56 retno dewanti analisis pengaruh kebijakan harga tiket dan kualitas kenyamanan terhadap kepuasan pelanggan: studi kasus kereta api argo bromo anggrek jakarta-surabaya (analysis of ticket price regulation influence and pleasure quality on customer satisfaction: a case study of argo bromo anggrek jakarta-surabaya train)...................................................... 57-68 masruroh dampak pengumuman right issue terhadap shareholder wealth di bursa efek jakarta (impacts of the right issue announcement on shareholder wealth in jakarta stock exchange)........ 69-80 hinsa siahaan analisis a debt-for-nature swap sebagai alternatif mengurangi utang indonesia pada luar negeri (analysis of a debtfornature swap as an alternative in reducing the indonesia debt to foreign country)....................................................................... 81-88 letter of apology and notice of retraction dear the winners, my co-authors and i submitted a journal article titled "the outbreak of covid-19 and islamic stock market responses in indonesia”, which has been published in the winners vol. 22 no. 2 (september 2021). in this regard, i respectfully write this to the editor-in-chief of the winners journal. i am aware that the published article causes an ethical violation of the publication due to translingual plagiarism. the article contains a completely similar content as a student thesis from ipb university (institut pertanian bogor)1. the similarity lies throughout the body of the article manuscript from the title to the references, while the difference lies only in the author of the script. therefore, i respectfully ask to retract the article "the outbreak of covid-19 and islamic stock market responses in indonesia” written by rianda rizky permata, budi purwanto, and wita juwita ermawati. i apologize to the editor-in-chief of the winners, managing editors, and the winners journal publishing team. thank you for your attention. references 1syafitri, w. (2021). fenomena overreaction jangka pendek saham syariah di indonesia terhadap covid-19. [thesis, ipb university]. bogor, indonesia. best regards, rianda rizky permata author 2022-11-11t17:15:29+0700 pengaruh motivasi..... (arif yusuf hamali) 77 pengaruh motivasi terhadap produktivitas kerja: studi kasus pada pt x bandung arif yusuf hamali politeknik piksi ganesha bandung jln. jend. gatot subroto 301, bandung, jawa barat, indonesia 40274 arifyusufhamali@yahoo.co.id abstract this research was conducted at pt x bandung, aimed to determine how motivation and employee productivity and also to know the influence of motivation to work productivity at pt x bandung. respondents of this research are 50 with census sampling technique. the method used is descriptive and associative, which tests the connection using the spearman rank correlation analysis, and also done to determine the accuracy the measurement using by the validity and reliability test. the results of the validity and reliability test of variables x and y are valid and reliable. calculations were performed using spss software ver.19. the results of this study showed that motivation is in the category of quite good and work productivity is in the category of good. the results showed the influence of motivation to employee’s work productivity at pt x bandung with a correlation coefficient = 0.510. based on the criteria champion, this relationship is in the criteria of fairly strong relationship. the results of this calculation showed the coefficient of determination = 26.01%. it showed that the the hypothesis is proved: there is the influence of motivation to work productivity at pt x bandung. keywords: motivation, work productivity, champion criteria abstrak penelitian ini dilakukan di pt x bandung yang bertujuan untuk mengetahui bagaimana motivasi dan produktivitas karyawan serta untuk mengetahui pengaruh motivasi terhadap produktivitas kerja di pt x bandung. responden dalam penelitian ini adalah 50 dengan teknik sensus sampling. metode yang digunakan adalah deskriptif dan asosiatif dengan menguji koneksi menggunakan analisis korelasi rank spearman, dan juga dilakukan untuk menentukan akurasi pengukuran dengan menggunakan uji validitas dan reliabilitas. hasil uji validitas dan reliabilitas variabel x dan y adalah valid dan reliabel. perhitungan dilakukan dengan menggunakan software spss ver.19. hasil penelitian ini menunjukkan bahwa motivasi memiliki kategori cukup baik dan produktivitas kerja berkategori baik. hasil penelitian menunjukkan pengaruh motivasi terhadap produktivitas kerja karyawan di pt x bandung dengan koefisien korelasi = 0,510. berdasarkan kriteria champion tingkat hubungan ini menunjukan kriteria hubungan yang cukup kuat. hasil perhitungan menunjukkan koefisien determinasi = 26.01%. hal ini menunjukkan bahwa hipotesis terbukti bahwa ada pengaruh motivasi terhadap produktivitas kerja di pt x bandung. kata kunci: motivasi, produktivitas kerja, kriteria champion 78 journal the winners, vol. 14 no. 2, september 2013: 77-86 pendahuluan latar belakang masalah motivasi adalah suatu faktor yang mendorong seseorang untuk melakukan suatu aktivitas tertentu. oleh karena itu motivasi sering kali diartikan pula sebagai faktor pendorong perilaku seseorang. faktor pendorong dari seseorang untuk melakukan suatu aktivitas tertentu pada umunya adalah kebutuhan serta keinginan orang tersebut. kebutuhan dan keinginan seseorang berbeda dengan kebutuhan serta keinginan orang lain. kebutuhan dan keinginan seseorang yang berbeda-beda itu terjadi karena proses mental yang telah terjadi dalam diri seseorang. proses mental itu merupakan pembentukan persepsi pada diri orang yang bersangkutan, dan proses pembentukan persepsi diri ini pada hakikatnya merupakan proses belajar seseorang terhadap segala sesuatu yang dilihat dan dialaminya dari lingkungan yang ada di sekitarnya. keberhasilan perusahaan salah satunya ditandai dengan meningkatnya produktivitas. produktivitas kerja yang tinggi merupakan salah satu keunggulan kompetitif perusahaan. produktivitas sangat tergantung pada motivasi perusahaan dan akan tercapai bila terdapat motivasi yang tinggi dan moral yang baik dari sumber daya manusianya. motivasi ini akan tercermin dalam etos kerja yang akan memengaruhi produktivtias perusahaan secara keseluruhan. motivasi adalah salah satu faktor yang penting dan berpengaruh terhadap produktivitas. hubeis (2007) menyatakan bahwa faktor-faktor motivasi internal berupa prestasi, pengakuan, pekerjaan, dan tanggung jawab berkorelasi positif dengan produktivitas kerja penyuluh pertanian lapangan di kabupaten sukabumi. sedangkan motivasi eksternal berupa gaji, kondisi kerja, status, hubungan interpersonal, supervisi, serta administrasi dan kebijakan berkorelasi negatif dengan produktivitas kerja penyuluh pertanian lapangan. ellerslie dan oppenheim (2008) menyatakan bahwa terdapat korelasi negatif pengaruh motivasi terhadap produktivitas kerja, yang ditunjukkan dengan tingkat motivasi dan jumlah publikasi oleh usia, jenis kelamin, tanggung jawab, dan jam kerja yang dihabiskan. motivasi berpengaruh secara positif dan sifnifikan terhadap produktivitas kerja (prasetyo & wahyudin, 2003; deli, 2009; pakpahan, 2010; hakim, 2010; sahril, 2011; manalu, 2012; iskandar, 2012). variabel-variabel bebas motivasi kerja yang meliputi fisiologi, keamanan dan keselamatan, sosial, penghargaan, dan aktualisasi diri secara parsial dan simultan berpengaruh positif dan signifikan terhadap produktivitas kerja karyawan. motivasi kerja juga mempunyai pengaruh yang lebih besar terhadap produktivitas kerja daripada kepuasan kerja. pt x bandung adalah salah satu perusahaan bumn yang bergerak di bidang pelayanan transportasi publik. fenomena yang terjadi di perusahaan adalah motivasi kerja pegawai menurun, salah satunya disebabkan kurangnya pemberian motivasi dari pimpinan. fenomena tersebut secara eksplisit dapat dilihat pada tabel 1. tabel 1 hasil survei pendapat 30 orang karyawan di pt x bandung tentang fenomena pemberian motivasi dari pimpinan pendapat karyawan ya tidak pimpinan/atasan langsung selalu memotivasi karyawan untuk melaksanakan tugas-tugas kerja dengan baik 3 27 pimpinan/atasan langsung memberikan pengarahan kepada karyawan sebelum melaksanakan tugas 5 25 pimpinan/atasan langsung selalu peduli terhadap persoalan-persolan kerja bawahannya -30 sumber: hasil survei di pt x bandung, 2013 pengaruh motivasi..... (arif yusuf hamali) 79 fenomena produktivitas kerja yang didapatkan berdasarkan data di bagian sdm pt x bandung adalah produktivitas kerja karyawan menurun. hal itu ditunjukkan dengan kurangnya disiplin karyawan dalam menyelesaikan tugas-tugas kerja sesuai target yang telah ditetapkan dalam sop. fenomena tersebut dapat dilihat pada tabel 2. tabel 2 fenomena penurunan produktivitas kerja karyawan pt x bandung jenis pekerjaan target kerja sesuai sop realisasi laporan kerja bulanan tanggal 3 setiap bulan tanggal 6 dilaporkan laporan kerja harian 15 menit sebelum jam pulang kerja dilaporkan esok harinya laporan kerja mingguan setiap hari sabtu dilaporkan hari senin sumber: bagian sdm pt x bandung, 2013 perumusan masalah berdasarkan paparan dan data, maka dapat dirumuskan permasalahan yang ingin dikaji. pertama adalah bagaimana motivasi dan produktivitas kerja karyawan di pt x bandung. kedua, apakah ada pengaruh motivasi terhadap produktivitas kerja karyawan di pt x bandung secara signifikan. tujuan penelitian tujuan dari penelitian ini adalah untuk mengetahui motivasi dan produktivitas karyawan di pt x bandung. selain itu, penelitian bertujuan untuk mengetahui apakah ada pengaruh motivasi secara signifikan terhadap produktivitas kerja karyawan pt x bandung. kajian literatur motivasi motivasi berangkat dari istilah motif yang artinya suatu alasan untuk melakukan sesuatu. motivasi berkenaan dengan faktor-faktor yang memengaruhi seseorang untuk berperilaku dalam caracara tertentu (armstrong, 2006). motivasi adalah kekuatan yang membangkitkan, mengarahkan, dan menopang perilaku. istilah motivasi berhubungan dengan tujuan-tujuan yang dimiliki oleh individu, cara-cara yang dilakukan individu untuk mencapai tujuannya, dan cara-cara yang dilakukan oleh orang lain berusaha mengubah perilakunya (armstrong, 2010). menurut teori yang dikembangkan oleh herzberg dkk., motivasi dikelompokkan menjadi dua tipe, yaitu motivasi intrinsik dan motivasi ekstrinsik (dalam armstrong, 2006). motivasi intrinsik adalah faktor-faktor diri yang digerakkan yang memengaruhi seseorang untuk berperilaku dalam cara tertentu atau dalam arah tertentu (armstrong, 2006). faktor-faktor diri tersebut meliputi tanggung jawab (yaitu perasaan bahwa pekerjaan adalah penting dan memiliki kontrol atas sumber daya milik seseorang), otonomi (yaitu kebebasan untuk bertindak), jangkauan untuk menggunakan dan mengembangkan keahlian, kemampuan, pekerjaan yang menarik dan menantang, serta peluang-peluang untuk maju. motivasi intrinsik yang diteliti di pt x bandung terdiri dari prestasi kerja, tanggung jawab, beban kerja, pencapaian target kerja, dan keterlibatan di perusahaan. motivasi ekstrinsik adalah sesuatu yang diberikan kepada atau untuk seseorang untuk memotivasi orang tersebut, yang meliputi imbalan-imbalan seperti gaji yang dinaikkan, penghargaan promosi, dan hukuman seperti tindakan disiplin (armstrong, 2006). motivasi ekstrinsik yang diteliti di 80 journal the winners, vol. 14 no. 2, september 2013: 77-86 pt x bandung terdiri dari motivasi dari pimpinan, promosi jabatan, penghargaan prestasi, pemberian gaji, dan pemberian bonus/insentif. produktivitas kerja produktivitas mengandung pengertian sikap mental yang selalu mempunyai pandangan “mutu kehidupan hari ini harus lebih baik dari hari kemarin, dan hari esok lebih baik dari hari ini”. sikapsikap mental yang produktif antara lain menyangkut sikap motivatif, disiplin, kreatif, inovatif, dinamis, professional, dan berjiwa kejuangan (sedarmayanti, 2009). produktivitas kerja bukan sematamata ditujukan untuk mendapatkan hasil kerja sebanyak-banyaknya, melainkan kualitas unjuk kerja juga penting diperhatikan. unjuk kerja yang baik dapat dipengaruhi oleh kecakapan dan motivasi. kecakapan tanpa motivasi atau motivasi tanpa kecakapan, keduanya tidak dapat menghasilkan luaran yang tinggi. produktivitas kerja indidividu perlu ditingkatkan secara terus-menerus, baik melalui pendidikan formal maupun latihan dan pengembangan, agar produktivitas organisasi dapat lebih meningkat. dimensi-dimensi dari produktivitas kerja menurut sedarmayanti (2009) di antaranya adalah sikap mental yang berupa etika kerja dandisiplin kerja, pendidikan, keterampilan, iklim kerja, dan jaminan sosial. kerangka konseptual variabel independen (x) variabel dependen (y) gambar 1 kerangka konseptual hipotesis berdasarkan uraian yang telah disampaikan, dapat dirumuskan hipotesis penelitian sebagai berikut: diduga motivasi berpengaruh secara signifikan terhadap produktivitas kerja karyawan pada pt x bandung. metode metode penelitian yang digunakan dalam penelitian ini adalah penelitian deskriptif dan penelitian asosiatif. penelitian deskriptif pada dasarnya merupakan proses generalisasi hasil penelitian yang didasarkan pada satu sampel, dan variabel penelitiannya bersifat mandiri, sehingga hipotesis penelitiannya tidak berbentuk perbandingan ataupun hubungan antardua variabel atau lebih (sugiyono, motivasi intrinsik (x):  prestasi kerja  tanggung jawab  beban kerja  pencapaian target kerja  keterlibatan di perusahaan motivasi ekstrinsik (x):  motivasi dari pimpinan  promosi jabatan  penghargaan prestasi  pemberian gaji  bonus/insentif produktivitas kerja (y):  sikap mental  pendidikan  keterampilan  iklim kerja  jaminan sosial pengaruh motivasi..... (arif yusuf hamali) 81 2006). sementara penelitian asosiatif adalah penelitian yang bertujuan untuk meneliti hubungan antarvariabel dalam populasi, melalui data hubungan variabel dalam sampel, dan pengujian hipotesisnya adalah menguji koefisiensi korelasi yang ada pada sampel untuk diberlakukan pada seluruh populasi sampel diambil (sugiyono, 2006). populasi dari penelitian ini adalah karyawan pt x bandung sebanyak 50 orang. karena ukuran populasi terjangkau dalam penelitian, semua anggota populasi dijadikan sampel. teknik pengambilan sampel adalah sensus atau sampel jenuh. teknik sensus atau sampel jenuh adalah teknik penentuan sampel bila semua anggota populasi digunakan sebagai sampel (sugiyono, 2006). data yang digunakan dalam penelitian ini adalah sumber data primer dan data sekunder. data primer adalah pengumpulan data yang dilakukan secara langsung terhadap objek yang diteliti untuk memperoleh jawaban dari responden. data sekunder adalah data yang diperoleh dari perusahaan, literatur, dan informasi lain yang dianggap relevan dan menunjang penelitian. metode yang digunakan dalam pengumpulan data menggunakan kuesioner dengan sistem tertutup. artinya, setiap pertanyaan telah disediakan jawabannya. kuesioner yang digunakan dalam penelitian ini menggunakan skala likert. skala dibuat dengan gradasi dari sangat tidak setuju (skor = 1) sampai dengan sangat setuju (skor = 5). variabel-variabel dalam penelitian ini terdiri dari variabel independen (bebas) dan variabel dependen (terikat). variabel independen atau variabel x adalah motivasi dan variabel dependen atau variabel y adalah produktivitas kerja. data yang diperoleh dari responden melalui kuesioner, selanjutnya dilakukan pengujian validitas dan reliabilitas. pengujian validitas menggunakan teknik korelasi pearson product moment dan pengujian reliabilitas menggunakan teknik alpha croncbach. analisis yang diambil dalam penelitian ini adalah analisis deskriptif dan analisis asosiatif. analisis deskriptif menggunakan analisis pembobotan, dan untuk mencari nilai bobot standar dapat dilakukan dengan mencari panjang rentang bobot. nilai bobot standar dapat ditentukan dengan mencari panjang rentang bobot kelima klasifikasi, yang langkahnya adalah sebagai berikut: keterangan : r = rentang klasifikasi pembobotan dibagi ke dalam lima tingkatan berdasarkan pengklasifikasian tersebut, dimulai dari tingkatan terendah ke tingkatan tertinggi dengan panjang rentang 40. klasifikasi nilai bobot standar yang dihasilkan adalah seperti pada tabel 3. tabel 3 nilai bobot standar nilai bobot kategori 50 – 89 tidak baik 90 – 129 kurang baik 130 – 169 cukup 170 – 209 baik 210 – 250 sangat baik sumber: hasil pengolahan data primer, 2013 5 )50x(1-)50x5( r40 r  82 journal the winners, vol. 14 no. 2, september 2013: 77-86 analisis asosiatif dilakukan untuk melihat bagaimana pengaruh antara variabel independen dengan variabel dependen, dalam hal ini, pengaruh motivasi (x) terhadap produktivtias kerja (y) dengan menggunakan rumus rank spearman sebagai berikut:            nn d r is 3 26 1 dimana: di = selisih rangking kedua variabel, n = ukuran populasi. analisis data pada penelitian ini perhitungannya menggunakan bantuan software spss versi 19. dalam penelitian ini tidak dilakukan uji kebermaknaan koefisien korelasi karena penelitian bersifat sensus. langkah selanjutnya adalah melakukan analisis korelasi untuk melihat pengaruh motivasi terhadap produktivitas kerja karyawan dengan menggunakan analisis koefisien determinasi (kd) dengan rumus: kd = r2 x 100%. korelasi atau keeratan hubungan antarvariabel bebas maupun variabel terikat diklasifikasikan oleh riduwan dan kuncoro (2007) sebagai berikut. tabel 4 interpretasi koefisien korelasi nilai r interval koefisien tingkat hubungan 0,80 – 1,000 0,60 – 0,799 0,40 – 0,599 0,20 – 0,399 0,00 – 0,199 sangat kuat kuat cukup kuat rendah sangat rendah sumber: riduwan dan engkos ahmad kuncoro, 2007:62 hasil dan pembahasan hasil uji validitas dan uji reliabilitas instrumen variabel x, yaitu motivasi dan variabel y, yaitu produktivitas kerja, menyatakan semuanya valid dan reliabel. tabel 5 pendapat responden tentang variabel motivasi no dimensi indikator penilaian responden bobot bobot rata-rata 5 4 3 2 1 1 motivasi intrinsik  prestasi kerja 9 13 11 17 0 164 158  tanggung jawab 4 15 19 12 0 161  beban kerja 5 14 20 11 0 163  pencapaian target kerja 3 11 28 8 0 159  keterlibatan di perusahaan 4 8 17 21 0 145 2 motivasi ekstrinsik  motivasi dari pimpinan 3 8 15 24 0 140 155  promosi jabatan 4 11 23 12 0 157  penghargaan prestasi 6 9 24 11 0 160  pemberian gaji 6 11 19 14 0 159  bonus/insentif 3 11 28 8 0 159 rata-rata 157 sumber: hasil pengolahan data primer, 2013 pengaruh motivasi..... (arif yusuf hamali) 83 pada tabel 5, hasil deskripsi rata-rata pembobotan untuk variabel motivasi menunjukkan nilai bobot rata-rata sebesar 157 dengan klasifikasi dalam kategori cukup baik. hasil ini dapat disimpulkan bahwa secara keseluruhan motivasi karyawan pada pt x bandung adalah cukup baik. akan tetapi, dimensi motivasi ekstrinsik memiliki nilai bobot di bawah rata-rata variabel motivasi, yaitu pada indikator keterlibatan karyawan di perusahaan sebesar 145 dan pemberian motivasi dari pimpinan sebesar 140. penyebab menurunnya motivasi kerja karyawan adalah kekecewaan karyawan yang merasa tidak pernah diberikan kewenangan dalam pembuatan keputusan, sehingga ketika terjadi permasalahan kerja harus dilaporkan terlebih dulu kepada pimpinan yang ada, dan hanya pimpinan yang berhak memberikan keputusan. karyawan juga menganggap pimpinan yang ada tidak pernah secara langsung memotivasi karyawan untuk melaksanakan tugas-tugas kerja dengan baik, dengan cara memberikan arahan-arahan yang jelas sebelum pelaksanaan tugas dan mengevaluasi hasil kerja karyawan setelah jam kerja karyawan selesai. tabel 6 pendapat responden tentang variabel produktivitas no dimensi indikator penilaian responden bobot bobot rata-rata 5 4 3 2 1 1 sikap mental  etika kerja 12 24 11 3 0 195 194  disiplin karyawan 9 24 17 0 0 192 2 pendidikan  formal 16 22 11 1 0 203 201  non formal 12 25 13 0 0 199 3 keterampilan  kecakapan 12 22 15 1 0 195 195  pengalaman kerja 16 15 16 3 0 194 4 iklim kerja  hubungan kerja sesamabawahan 9 26 14 1 0 193 193  hubungan kerja denganatasan 9 26 13 2 0 192 5 jaminan sosial  jaminan pemeliharaan kesehatan 10 31 9 0 0 201 200  jamsostek 12 25 13 0 0 199 rata-rata 196 sumber: hasil pengolahan data primer, 2013 pada tabel 6, hasil deskripsi rata-rata pembobotan untuk variabel produktivitas kerja menunjukkan nilai bobot rata-rata sebesar 196 dengan klasifikasi dalam kategori baik. hasil ini dapat disimpulkan bahwa secara keseluruhan produktivitas kerja karyawan pada pt x bandung sudah baik. meskipun begitu, ada dimensi-dimensi yang memiliki nilai bobot di bawah bobot rata-rata variabel produktivitas kerja, yaitu dimensi sikap mental pada indikator disiplin karyawan sebesar 192, dimensi keterampilan pada indikator pengalaman kerja sebesar 194, dan dimensi iklim kerja pada indikator hubungan kerja dengan atasan sebesar 192. produktivitas kerja karyawan pt x bandung yang rendah ditunjukkan dengan sikap mental karyawan untuk mendisiplinkan diri dalam menyelesaikan tugastugas kerja sesuai sop. karyawan sering kali menunda-nunda penyelesaian tugas-tugas rutin, sehingga target-target kerja belum tercapai secara optimal. produktivitas kerja yang rendah juga ditunjukkan dengan minimnya bekal pengalaman kerja karyawan dalam melaksanakan tugas-tugas di bidang pekerjaannya, sehingga karyawan yang bersangkutan tidak bisa bertindak proaktif ketika menghadapi permasalahan kerja. produktivitas kerja karyawan yang rendah juga ditunjukkan dengan hubungan yang tidak harmonis antara bawahan terhadap atasan, sehingga membuat karyawan tidak produktif dalam bekerja karena karyawan merasa tidak mendapatkan bimbingan dan arahan untuk menyelesaikan permasalahan kerja. karyawan dibiarkan menyelesaikan sendiri permasalahan kerja tersebut. pengaruh motivasi terhadap produktivitas kerja karyawan pada pt x bandung dapat dilihat dengan menggunakan analisis korelasi spearman rank. hasil analisis korelasi dengan menggunakan software program spss ver. 19, diperoleh nilai r = 0,510 seperti disajikan dalam tabel 7. 84 journal the winners, vol. 14 no. 2, september 2013: 77-86 tabel 7 analisis korelasi (nonparametric correlations) correlations motivasi produktivitas spearman's rho motivasi correlation coefficient 1.000 .510** sig. (2-tailed) . .000 n 50 50 produktivitas correlation coefficient .510** 1.000 sig. (2-tailed) .000 . n 50 50 **. correlation is significant at the 0.01 level (2-tailed). sumber: hasil pengolahan data primer, 2013 hasil perhitungan spss pada tabel 7 menunjukkan bahwa hasilnya adalah signifikan pada taraf signifikansi  = 5% (nilai sig. (2-tailed) = 0,000 lebih kecil dari 5%). artinya, terdapat pengaruh motivasi terhadap produktivitas kerja karyawan pada pt x bandung. penelitian ini tidak melakukan uji hipotesis statistik karena sampel menggunakan teknik sensus atau sampel jenuh. selanjutnya untuk mengetahui tingkat hubungan, berdasarkan kriteria pada tabel 7, dengan nilai r = 0,510, hubungan ini termasuk kriteria hubungan yang cukup kuat. dari hasil r = 0,510 ini selanjutnya untuk menyatakan besarnya sumbangan variabel x (motivasi) terhadap variabel y (produktivitas kerja), ditentukan dengan rumus koefisien determinasi (kd) sebagai berikut: kd = r2 x 100% = (0,510)2 x 100% = 26,01%. berdasarkan hasil perhitungan, dengan nilai 26,01% artinya pada penelitian ini motivasi memberikan pengaruh terhadap produktivitas kerja karyawan pada pt x bandung sebesar 26,01%. sedangkan sisanya sebesar 73,99% dipengaruhi oleh faktor-faktor lain yang tidak diteliti dalam penelitian ini. simpulan berdasarkan hasil penelitian dan pembahasan dapat disimpulkan bahwa hasil tanggapan responden terhadap penilaian motivasi menunjukkan nilai bobot rata-rata sebesar 157. berdasarkan rentang klasifikasi termasuk kategori cukup baik. hasil ini berarti bahwa secara keseluruhan motivasi karyawan pada pt x bandung cukup baik namun dimensi motivasi ekstrinsik memiliki nilai bobot di bawah bobot rata-rata variabel motivasi, yaitu pada indikator keterlibatan di perusahaan dan motivasi dari pimpinan. hasil tanggapan responden terhadap penilaian produktivitas kerja menunjukkan nilai bobot rata-rata sebesar 196. berdasarkan rentang klasifikasi termasuk kategori baik. hasil ini berarti bahwa secara keseluruhan produktivitas kerja karyawan pada pt x bandung sudah baik namun dimensi sikap mental memiliki nilai bobot di bawah bobot rata-rata variabel produktivitas kerja, yaitu pada indikator disiplin karyawan dalam menyelesaikan tugas, pengalaman kerja, dan hubungan kerja dengan atasan. berdasarkan hasil penelitian dan pembahasan, maka dapat disimpulkan bahwa terdapat pengaruh motivasi terhadap produktivitas kerja karyawan pada pt x bandung secara signifikan dengan koefisien korelasi r = 0,510. berdasarkan kriteria champion dengan nilai r =0,510, maka hubungan ini termasuk hubungan yang cukup kuat. berdasarkan koefisien diterminan (kd) diperoleh r2 = 0,2601; artinya pada penelitian ini motivasi memberikan peranan terhadap produktivitas kerja sebesar 26,01%, sedangkan sisanya 73,99% dipengaruhi oleh faktor-faktor lain. hasil tersebut membenarkan hipotesis penelitian, yaitu terdapat pengaruh motivasi terhadap produktivitas kerja karyawan pada pt x bandung secara signifikan. pengaruh motivasi..... (arif yusuf hamali) 85 saran saran yang dapat diberikan dalam penelitian ini kepada manajemen pt x bandung adalah sebagai berikut. pertama, pimpinan atau atasan langsung sebaiknya lebih intensif dan persuasif dalam memotivasi karyawan dalam bekerja, dengan cara memberikan pengarahan dan bimbingan kepada karyawan untuk dapat menyelesaikan tugas-tugas kerja dengan baik. kedua, manajemen perusahaan sebaiknya melibatkan karyawan dalam setiap perumusan kebijakan perusahaan dan memberikan wewenang pengambilan keputusan kepada karyawan ketika terjadi permasalahan kerja. ketiga, penerapan aturan disiplin kerja karyawan secara lebih tegas, sehingga karyawan bekerja lebih produktif dalam mencapai target-target kerja sesuai sop yang ditetapkan. keempat, pemberian pelatihan kerja sesuai dengan bidang pekerjaan karyawan secara lebih intensif untuk menambah pengalaman dan keahlian manajerial karyawan, sehingga karyawan dapat melaksanakan tugas-tugas kerja dengan baik. kelima, pimpinan yang ada sebaiknya membina hubungan kerja yang harmonis kepada para bawahannya dengan memberikan bimbingan dan arahan kepada karyawan dalam melaksanakan tugas-tugas kerja. implikasi manajerial manajemen pt x bandung sebaiknya terus melakukan upaya-upaya untuk mempertahankan dan meningkatkan motivasi kerja karyawan dengan cara mengintensifkan peranan seorang pimpinan dalam memberikan bimbingan dan arahan kerja yang baik dan benar kepada bawahannya. dengan demikian, hubungan kerja yang harmonis akan terbina dan tercipta antara seorang pimpinan dengan bawahannya. karyawan sebaiknya dilibatkan dalam pembuatan kebijakan perusahaan dan diberikan kepercayaan dan wewenang dalam pengambilan keputusan manajemen. manajemen perusahaan perlu mengintensifkan program pelatihan kerja yang bertujuan meningkatkan keahlian manajerial dan memberikan pengalaman baru kepada karyawan, sesuai dengan bidang pekerjaan yang digelutinya sehari-hari. keterbatasan penelitian keterbatasan dari penelitian ini adalah, mengingat hasil penelitian menunjukkan bahwa motivasi memberikan pengaruh yang signifikan terhadap produktivitas kerja sebesar 26,01% sementara sisanya 73,99% dipengaruhi faktor-faktor lain, kepada peneliti yang akan datang dapat melakukan penelitian dengan variabel bebas (x) yang berbeda, seperti kompensasi, pengawasan, dan kepemimpinan yang dapat memengaruhi produktivitas kerja karyawan. pengukuran untuk variabel motivasi dan produktivitas kerja diukur dengan persepsi responden terhadap motivasi dan produktivitas kerjanya sendiri, sehingga jawaban bisa saja menjadi bias karena karyawan tersebut cenderung untuk menilai dirinya sendiri baik. penelitian mendatang diharapkan agar pengukuran variabel motivasi dan produktivitas kerja dapat menggunakan kuesioner yang tidak hanya ditujukan kepada responden sebagai karyawan bawahan dan rekan sekerja, tetapi juga kuesioner yang ditujukan kepada pimpinan atau atasan langsung dari responden yang bersangkutan. penelitian mendatang juga diharapkan dapat melakukan pengujian model yang sama pada kelompok sampel yang lebih besar lagi yang masih berada di bawah unit kerja pt x bandung. 86 journal the winners, vol. 14 no. 2, september 2013: 77-86 daftar pustaka armstrong, m. (2010). armstrong’s essential human resource management practice: a guide to people management. first published. london: kogan page. armstrong, m. (2006). a handbook of human resource management practice. 10th edition. london: kogan page limited. deli, a. (2009). pengaruh motivasi terhadap produktivitas kerja akademik dosen pegawai negeri sipil dipekerjakan (pns dpk) pada universitas islam kalimantan banjarmasin. penelitian ilmiah uniska. diakses 26 januari 2013 dari http://www..uniska-bjm.ac.id. ellerslie, s. & oppenheim, c. (2008). the effect of motivation on publication productivity of uk lis academic. library & information research, 32(101), 57–90. diakses 26 januari 2013 dari http://www.lirgjournal.org.uk/lir/ojs/index.php/lir/article/view/62/106. hakim, l. (2010). analisis pengaruh motivasi terhadap peningkatan produktivitas kerja karyawan pt diamond indonesia. jurnal ekonomi dan industri, no. 1, tahun xv. hubeis, a. v. s. (2007). motivasi, kepuasan kerja dan produktivitas penyuluh pertanian lapangan: kasus kabupaten sukabumi. jurnal penyuluhan, 3(2), 90–98. iskandar, r. (2012). pengaruh stres dan motivasi terhadap produktivitas pegawai negeri sipil di sekretariat daerah kabupaten bangka. tesis. pangkalpinang: program pascasarjana universitas terbuka. manalu, e. a. (2012). pengaruh motivasi, kepemimpinan, dan disiplin terhadap produktivitas kerja pegawai dinas kehutanan dan perkebunan kabupaten tapanuli tengah. tesis. jakarta: program pascasarjana universitas terbuka. pakpahan, j. m. (2010). pengaruh faktor-faktor motivasi kerja terhadap produktivitas karyawan pada perusahaan pt indotirta suaka di pulau batam. tesis. batam: program pascasarjana universitas terbuka. prasetyo, e. & wahyudin, m. (2003). pengaruh kepuasan dan motivasi kerja terhadap produktivitas kerja karyawan riyadi palace hotel di surakarta. tesis. surakarta: program pascasarjana universitas muhammadiyah surakarta. riduwan & kuncoro, e. a. (2007). cara menggunakan dan memaknai analisis jalur (path analysis). cetakan pertama. bandung: alfabeta. sahril. (2011). pengaruh pembinaan dan motivasi kerja terhadap produktivitas kerja pegawai pengelola kearsipan di lingkungan pemerintah kabupaten bangka tengah. tesis. jakarta: program pascasarjana universitas terbuka. sedarmayanti. (2009). sumber daya manusia dan produktivitas kerja. cetakan ketiga. bandung: cv. mandar maju. sugiyono. (2006). statistika untuk penelitian. cetakan kesembilan. bandung: alfabeta. price fraction changes …… (adi teguh suprapto, et al.) 1 price fraction changes impact on stock trading indicators: an events study on indonesia stock exchange adi teguh suprapto1; mulyono2; danang prihandoko3 1,2,3 management department, binus business school undergraduate program, bina nusantara university jl. k.h syahdan no. 9, palmerah, jakarta 11480, indonesia 1aditeguhs992@gmail.com; 2mulyono.binus@gmail.com; 3dprihandoko@binus.ac.id abstract this research presented differences of stock price fraction system to stock trading indicator variables such as volume, value, and frequency of stock trading transactions on companies listed in indonesia stock exchange. the purpose of this research was to measure and analyze the difference of stock price fraction system to stock trading indicator variables. sample determination based on the sampling method was saturated, i.e., the technique of determining the sample by using all members of the population as a sample. the sample in this research used jci data as it represents the 115 issuers listed on the indonesia stock exchange during the research period. this research used mann-whitney u test to find out whether there were differences between two groups of data that were not related (independent) with the classification; group 1 was the volume data, the value and frequency of stock trading before the new price fraction that was applied 02 may 2016. while the second group data volume, value and frequency of stock trading after applying the new price fraction 02 may 2016. this research finds that the stock trading indicators reflected by the trading volume of stocks, the value of the stock, and the frequency of stock trading has a significant difference before and after the implementation of the new stock price fraction. keywords: stock price fraction, stock trading volume, trading value of stock, frequency of trading of shares, indonesia stock exchange introduction as one of the emerging stock exchanges, transactions in the indonesian stock exchange are growing very rapidly and can be reduced from growth rates such as stock trading volume, sales volume, and frequency. in order to remain fair and effective, rules are needed to support stock trading. one of the rules of implementation is the highest price (management measure). the stock market in indonesia uses the price used in the new price list, namely the price category. when shares are traded in the capital market, minimum steps are needed to determine the stock price. quotation rules are determined by the stock exchange so that the exchange can be changed. the main objective of the indonesian stock exchange to cut share price is to attract investors to buy shares and increase liquidity. indonesia stock exchange (idx) makes changes to the fraction of stock price effective dated may 2nd, 2016. idx reviews stock price groups and price fractions that are considered more appropriate to the needs of both retail and institutional investors so that it is expected to have an impact in increasing the value and volume of transactions. in a competitive market, a reduction in tick size will lead to a fall in bid-ask spreads, as investors are able to place orders with tighter spreads. the reduction of the font size is particularly important for stocks whose spread is limited in advance by the mark and where the relative size is too large. even shares that are not restricted by the brand, however, can also experience a reduction in the spread when investors place orders at prices that are previously unavailable. the mailto:aditeguhs992@gmail.com mailto:mulyono.binus@gmail.com mailto:dprihandoko@binus.ac.id 2 journal the winners, vol. 20 no. 1, march 2019: 1-8 reduction in tick size provides a natural environment for experimentation. in most research, the impact on liquidity is measured by the bid-ask spreads and the depth of the quote. tick size affects the market quality because it limits the prices that traders can offer and reduces price competition. the price fraction known as tick size is the minimum unit size in a stock transaction. previously the price fraction consists of three price groups, i.e. < 500, then 500 to < 5000, and ≥ 5000. it is now revised to five price groups, i.e. < 200, then 200 to < 500, then 500 to < 2000, then 2000 to < 5000 and last ≥ 5000. detailed information of price fraction changes along with their maximum changes that can be seen in table 1. as an illustration, when using a fraction of the old price, then the stock price group is below 500, the stock price is 400 for example. when the stock price rises 1 point or rp 1,then the profit earned trader by 0,25%. meanwhile, when using the new price faction, the price increase of 1 point shares becomes rp 2,so the profit earned by trader doubled to 0,50%. the adjustment of the new price element, which is based on a specific price range, is directed at several stocks in order to take into account the different price ranges. table 1 changes in stock price fraction before price group price fraction max changes < idr500 idr 1 idr 20 idr500 < idr 5000 idr 5 idr 100 ≥ idr 5000 idr 25 idr 500 after price group price fraction max changes < idr200 idr 1 idr 20 idr200 < idr 500 idr 2 idr 20 idr500 < idr 2000 idr 5 idr 50 idr2000 < idr 5000 idr 5 10 idr 100 ≥ idr 5000 idr 25 idr 250 source: indonesia stock exchange this research aims to determine the impact of changes in price fraction or tick size set by the idx on may 2nd, 2016, against stock trading indicators, namely volume, value, and frequency of stock trading transactions. reducing the tick size can lead to lower transaction costs and increased market liquidity. information is a fundamental requirement for investors to make decisions. this decision indicates the choice of the most profitable investment portfolio with a particular risk. however, overestimation of tick size is irrational and expensive. it is not suitable for all stocks. on the other hand, stocks with relative graduation marks and different trading volumes are affected by a decrease in tick size. does the change in price fraction that has been set resulted in a significant change in the volume, value, and frequency of stock trading transactions on the indonesia stock exchange? this research is an event study to see market reactions measured by stock trading volume, number of transactions, and frequency of stock trading to announce changes in the stock price fraction. this survey describes the events of empirical research methods that enable financial analysts to assess the impact of certain events on the company’s stock price. rising equity prices are a reflection of stock price fluctuations that change every second. equity prices tend to rise and will create capital gains. however, stock prices are influenced not only by internal but also external factors. there are three forms of capital markets and weak situations, where efficiency is expensive; prices reflect all information available at the time of the last record price. semi-strong efficiency of the model where there are prices; prices not only on past prices but all information published. an efficiency is a strong form, not a situation where prices reflect the information display, but information can be obtained from the analysis and economic basis of the company. price fraction changes …… (adi teguh suprapto, et al.) 3 several previous researches have shown that the minimum tick size has an important role in market quality. the decline in the price fraction has resulted in declining trading volume (goldstein & kavajecz, 1998); (ascioglu, comerton-forde, & mcinish, 2010). then wu, krehbiel, and brorsen (2011) have examined the decrease of tick size on the new york stock exchange against the trading volume and transaction costs. using models derived from high and low partial price changes, large volumes of low levels, low 1997 and 2001 have been reported on the new york stock exchange. because the stock prices were high and low in 1997 the amount varied from the eighth dollar to sixteenth dollar. improved differentiation is the most ineffective for transactions, even for the size of transactions, but in 2001 it was the most ineffective. the effects of partial sub-prices were generally positive because of high volume, low volume but not a statistically significant part. research by chang (2014) on the new zealand stock exchange has shown that the minimum tick size is positively correlated with trading volume. research by chien (2014) uses the taiwan stock exchange data (twse) that shows the influence of the price reduction on the content of the command line is checked. the empirical results show that the marginal order book is informative. it shows a reduction in the price fraction impacted by reducing information from the order book. o’hara, saar, & zhong (2013) have suggested that raising the minimum tick size can result in high trading frequency. empirical research by ekaputra and asikin (2012) on the indonesia stock exchange shows an increase in the volume of trade transactions after the introduction of new price fraction rules. while the research by satiari (2009) on the indonesia stock exchange shows a significant difference between the new stock price fraction system against bid-ask spread and depth and the trading volume for ten days from the introduction of new price fraction policy. however, there is also research that is showing there is no significant change in trading volume on the reduction of tick size, by pavabutr and prangwattananon (2009) at the thailand stock exchange (set). this is supported by the results of the research andriyani (2014) which shows that there is no evidence of average trading volume difference around the lot quotas change period. the indonesia stock exchange regulation number ii-a concerning equity securities trading (bursa efek indonesia, 2013) provides the definition of price fraction is the unit of price change used in conducting a selling offer or a purchase request. the impact of price fraction changes has attracted the attention of many practitioners, researchers, and policymakers. the research of the effects of tick sizes is generally concerned with changes in measures of market liquidity such as bid-ask spreads, depth, and trading volume. the previous literature focuses more on the impact of the decline in price fractions on market quality. the results show the smaller the price fraction, the narrower the spread or the depth and the depth the more shallow. according to porter and weaver (1997), the decrease in the price fraction can theoretically have a positive or negative impact. volatility can then increase, the depth decreases, many transactions are null, and trade volume decreases and this will increase the price variation. while the maximum change is the maximum multiplier of price changes, not the maximum daily price range limits. benefits that can be obtained by the market from price fraction changes are more alternatives to price options, lower order queues, increase the potential for transactions, facilitate investors to manage risk, share price movements become smoother, increase market depth and minimize market impact. some of the previous empirical evidence of change in price share in terms of price, bid, depth, and volume differences show different results. several previous pieces of research have shown a change in price fraction and trading unit able to increase stock liquidity. satriari (2009) proves that there is a negative effect between the price fraction and the trading volume, where the lower the stock price fraction, the higher the trade volume. the research by susanto (2014) has said that there is an increase in the average trading volume after the regulatory changes in price fractions and trading units. this proves that the new price fraction can increase stock liquidity. chandra (2015) has tested the level of liquidity of shares on the indonesia stock exchange. the results show that turnover has increased, 4 journal the winners, vol. 20 no. 1, march 2019: 1-8 indicating the market is getting more liquid. the conclusion all of the previous researches that have been explained can be seen in table 2. table 2 state of the art no year researchers research problems findings publisher related variables 1 2009 satiari measuring and analyzing the difference of stock price fraction system to bid-ask spread, depth, and trading volume showing a significant difference against bid-ask spreads, depths and trading volumes since the recent faction fraction thesis at diponegoro university price fraction and trading volume 2 2010 ascioglu, comertonforde, & mcinish examining the trade-off between transaction costs and provision by examining the proportion of time that the quoted spread equals the minimum tick size finding that trade size, the number of trades, and price are the most important determinants of whether the minimum tick size is a binding constraint japan and the world economy tick size 3 2011 wu, krehbiel, & brorsen investigating the impact of changes in tick size on transaction costs of different size trades tick size reduction does reduce liquidity costs for most stocks, it does not do so for all stocks international journal of economics and finance tick size and trading volume 4 2012 ekaputra & asikin investigating the impact of tick size reduction on stock price efficiency and execution cost finding the new tick policy significantly improves small caps price efficiency and partially reduces execution cost asian academy of management journal of accounting and finance tick size 5 2013 o’hara, saar, & zhong examining how the relative tick size influences market liquidity and the biodiversity of trader interactions finding that a larger relative tick size benefits highfrequency trading (hft) firms that make markets on the nyse: they leave orders in the book longer, trade more aggressively, and have higher profit margins working papers tick size and liquidity 6 2014 chang new zealand stock market is less liquid than other markets, buying and selling stocks is costly in new zealand stock market strong evidence shows that there is a relation between the market liquidity and company size dissertation submitted to auckland university of technology tick size and liquidity 7 2014 chien examining the impact of a reduction in tick size on the information content of the order book by using data from the taiwan stock exchange results indicate that a reduction in tick size will decrease the information content of the order book and the decrease in the information content of the order book is positively related to the thinner order book. managerial finance tick size 8 2015 chandra to know the effect of price fraction and trading unit changes on the liquidity of indonesia stock exchange. showing a significant difference from all liquidity indicators used. this indicates the market is getting more liquid. finesta price fraction price fraction changes …… (adi teguh suprapto, et al.) 5 information is a factor that gives meaning to recipients, especially from a decision point of view. information is needed to determine the state of the company that sells security and behavior of the company’s securities on the exchange. it is fundamentally about other factors that can affect the circumstances and prospects of the company in the future, such as the company, the same general industry situation, and changes in government regulations. information about technical factors; this information reflects the status of securities trading, exchange rate fluctuations, transaction volume, and so on. this information is very important to determine when investors need to buy, sell, or exchange shares to get maximum profit. information about environmental factors such as economics, politics, security is also important because this information can affect the company’s prospects and the development of fundamental securities and technology trade, it is necessary to notify investors and securities brokers. the problem in this research is whether the change in the fraction of the predetermined price produces a significant change in the volume, value, and frequency of the stock trading on the indonesian stock exchange. based on that description, to obtain the empirical results from this research, the hypothesis proposed in the research are: h1: there is a significant influence of price fraction changes on stock trading volume in indonesia stock exchange. h2: there is a significant influence of price fraction changes on the value of stock trading in indonesia stock exchange. h3: there is a significant influence of price fraction changes on the frequency of stock trading on the indonesia stock exchange. in testing the hypothesis, it uses spss program version 21, done by using numbers of significance. decisions obtain using criteria if the significance of the results of research <0,05 then h1, h2, and h3 accepted. methods this research is conducted on all shares of companies listed in indonesia stock exchange. the type of data used is quantitative data. the population in this research is data on the volume, value, and frequency of trading of shares in the indonesia stock exchange, with a sample of 15 trading days before and 15 trading days after the implementation of the new price fraction starting from april 11, 2016, to may 25, 2016. the date of entry into force of the new price fraction is may 2, 2016. the data sources used are secondary data obtained from the indonesia stock exchange website; www.idx.co.id. before testing hypotheses, the first normality test to guarantee data is done; the amount of data, the value, and frequency of transactions in the period before and after the application of a new part of the price that is usually distributed. the normality test serves to ascertain whether the data has been normally distributed or not. testing of data normality by using the kolmogorov smirnov test method. the basis of decision making uses a value of significance if the value of significance (sig.) or the probability value < 0,05, then the distribution is not normal. conversely, if the value of significance (sig.) or probability value > 0,05, then the distribution is normal. mann-whitney u test is conducted to find out whether there are differences between two groups of data that are not related (independent) with the classification. group 1 is the volume data, the value, and frequency of stock trading before the application of new price fraction 02 may 2016; while group 2 is volume data, the value and frequency of stock trading after the application of the new price fraction of 02 may 2016. the basis of decisionmaking uses the value of significance, if probability > 0,05, h0 is accepted, ie the two groups do not differ significantly, and if the probability < 0,05, h0 is rejected both groups differed significantly. http://www.idx.co.id/ 6 journal the winners, vol. 20 no. 1, march 2019: 1-8 results and discussions to perform data analysis, it is performed data processing using spss software version 21. the results of processing output become the material analysis to formulate results and recommendations from the research. before performing the hypothesis test, a normality test is performed to ensure the data volume, value, and frequency of trading, in the period before and after the implementation of the newly distributed price fraction. the result of the normality test using the kolmogorov-smirnov method is shown in table 3. trading volume data, transaction value, and frequency of normal distributed trade, where the three values of significance are above 0,05 that is 0,181, value 0,200, and frequency 0,074. table 3 normality test results kolmogorov-smirnova statistic df sig volume 0,134 30 0,181 vakue 0,131 30 0,200* frequency 0,152 30 0,074 *. this is a lower bound of the true significance a. lilliefors significance correction table 4 mann whitney u test results ranks information n mean rank sum of ranks volume before 15 19,53 293,00 after 15 11,47 172,00 total 30 value before 15 19,60 294,00 after 15 11,40 171,00 total 30 frequency before 15 20,93 314,00 after 15 10,07 151,00 total 30 test statisticsa volume value frequency mann-whitney u 52.000 51.000 31.000 wilcoxon w 172.000 171.000 151.000 z -2,509 -2,551 -3,380 asymp. sig. (2-tailed) 0,012 0,011 0,001 exact sig. [2*(1-tailed sig])] 0,011b 0,010b 0,000b a. grouping variable: remarks b. not corrected for ties the hypothesis test is then conducted to determine whether there are differences between the three indicators between before and after the new stock price fraction is applied. the results of the data using the mann whitney u test in table 4 indicates significance value or asymp. sig. (2 tailed) for stock trading volume is 0,012 < 0,05. thus, stock trading indicators reflected by the trading volume of stocks have significant differences before and after the implementation of the new stock price fraction. the value of significance or asymp. sig. (2 tailed) for the value of stock trading is 0,011 < 0,05 thus the stock trading indicator which is reflected by the value of stock trading has a significant difference price fraction changes …… (adi teguh suprapto, et al.) 7 before and after the implementation of the new stock price fraction. the value of significance or asymp. sig. (2 tailed) for the trading frequency of the stock is 0,001 < 0,05. thus the stock trading indicator which is reflected by the frequency of stock trading has a significant difference before and after the implementation of the new stock price fraction. conclusions based on the results of data analysis and discussion conducted in the previous section, it can be concluded that the application of new price fraction on may 2, 2016, has a significant effect on the volume of stock trading. this gives an idea of the application of the new price fraction affects the number of shares transacted. stock trading indicators reflected by the trading volume of stocks have significant differences before and after the implementation of the new stock price fraction. the application of the stock price fraction also significantly influences the stock trading value, reflecting the change in the number of funds transacted due to changes in the stock price fraction. implementation of stock price fraction also significantly influences the frequency of stock trading. this reflects the change in the number of transactions made by investors in the capital market in relation to the change of stock price fraction. the stock trading indicator which is reflected by the value of stock trading has a significant difference before and after the implementation of the new stock price fraction. stock markets decide to reduce the tick size based on the price even the trading activity. the stock trading indicator which is reflected by the frequency of stock trading has a significant difference before and after the implementation of the new stock price fraction. this change suggests that the stock market managements believe that there is merit in the reduction. it can make the market more competitive. suggestions for further research may use a variable volume, value, and frequency of trades are calculated based on the activity of foreign investors, but it can also examine other variables such as the composite stock price index. further research may also add another research variable to cover the wider liquidity aspect, and it is suggested to examine the variables that give a more dominant effect to the change of price fraction and trading unit. references andriyani, d. (2014). "abnormal return" dan volume perdagangan saham di seputar pengumuman kebijakan perubahan kuota lot saham (studi kasus pada perusahaan-perusahaan yang masuk dalam kelompok jakarta islamic index). undergraduate thesis. yogyakarta: universitas islam negeri sunan kalijaga. ascioglu, a., comerton-forde, c., & mcinish, t. h. (2010). an examination of minimum tick sizes on the tokyo stock exchange. japan and the world economy, 22(1), 40–48. bursa efek indonesia. (2013). peraturan no ii-a bursa efek indonesia; revisi sk peraturan nomor iia tentang perdagangan efek bersifat ekuitas (pp.1–25). jakarta: bursa efek indonesia. chandra, w. (2015). pengaruh perubahan fraksi harga dan satuan perdagangan terhadap likuditas bursa efek indonesia. finesta, 3(1), 91–95. chang, m. (2014). the impact of minimum tick size on the liquidity of the new zealand stock market. dissertation. auckland: auckland university of technology. 8 journal the winners, vol. 20 no. 1, march 2019: 1-8 chien, c. (2014). the information content of the thinner order book following tick size reduction. managerial finance, 40(3), 218–233. ekaputra, i. a., & asikin, e. s. (2012). impact of tick size reduction on small caps price efficiency and execution cost on the indonesia stock exchange. asian academy of management journal of accounting and finance, 8(1), 1–12. goldstein, m. a., & kavajecz, k. a. (1998). eighths, sixteenths and market depth: changes in tick size and liquidity provision on the nyse. journal of financial economics, forthcoming, 56(1), 125149. doi: 10.1016/s0304-405x(99)00061-6. o’hara, m., saar, g., & zhong, z. (2013). relative tick size and the trading environment. retrieved from https://www.sec.gov/spotlight/investor-advisory-committee-2012/wallman-roper-iac.pdf. pavabutr, p., & prangwattananon, s. (2009). tick size change on the stock exchange of thailand. review of quantitative finance and accounting, 32(4), 351–371. porter, d. c., & weaver, d. g. (1997). tick size and market quality. financial management, 26(4), 5– 26. satiari, f. (2009). harga saham terhadap variabel bidperdagangan (studi pada fraksi harga rp. 10 , rp. 25, rp. 50 di bursa efek indonesia). master thesis. semarang: universitas diponegoro. susanto, h. (2014). perbedaan likuiditas saham dan kapitalisasi pasar saham sebelum dan sesudah pemberlakuan surat keputusan no. kep-00071/bei/11-2013 di indonesia. yogyakarta: universitas atma jaya. wu, y., krehbiel, t., & brorsen, b.w. (2011). impacts of tick size reduction on transaction costs. international journal of economics and finance, 3(6), 57–66. http://dx.doi.org/10.1016/s0304-405x(99)00061-6 https://www.sec.gov/spotlight/investor-advisory-committee-2012/wallman-roper-iac.pdf microsoft word 06_hazliza_edit 50 journal the winners, vol. 13 no. 1, maret 2012: 50-57 transforming malaysia towards an innovation-led economy by leveraging on innovative human capital hasliza abdul halim; noor hazlina ahmad school of management, universiti sains malaysia 11800 penang, malaysia haslizahalim@usm.my abstract fostering “pioneering minds” is extremely important especially in the effort to shift malaysia towards an innovation-led economy. the malaysian government is confident of achieving this transformation agenda provided that the human capital is leveraged in ensuring innovation at the highest level. the primary aim of this research is to investigate the predictors that could nurture the “pioneering minds” by exploring the innovative performance of human capital from the perspective of social embedment and pro-innovativeness organisational architecture which could subsequently lead to excellent organisational performance. this research contributes to the existing literature on human capital and innovation by having better understanding on the specific factors that nurture the “pioneering minds” which are crucial for innovative performance. keywords: innovation, human capital, pioneering minds, innovation-led economy, malaysia abstrak pembinaan "pikiran perintis" sangatlah penting terutama dalam upaya untuk membawa malaysia menuju ekonomi menuju-inovasi. pemerintah malaysia yakin untuk mencapai agenda transformasi ini asalkan modal manusia diperkuat dalam memastikan inovasi di tingkat tertinggi. tujuan utama penelitian ini adalah untuk mengetahui prediktor yang dapat mengasah "pikiran perintis" dengan menjelajahi kinerja inovatif dari modal manusia dari perspektif penyisipan sosial dan pro-inovasi arsitektur organisasi yang kemudian dapat menyebabkan kinerja organisasi yang unggul. penelitian ini memberikan kontribusi terhadap literatur yang ada pada modal manusia dan inovasi dengan memiliki pemahaman yang lebih baik pada faktor-faktor tertentu yang memelihara "pikiran perintis" yang sangat penting untuk kinerja inovatif. kata kunci: inovasi, modal manusia, pikiran perintis, ekonomi menuju-inovasi, malaysia transforming malaysia..... (hasliza abdul halim; noor hazlina ahmad) 51 introduction malaysia needs a paradigm shift from a knowledge-based economy to innovation-centred in order to stand in the same row with advanced nations as propagated in the new economic model agenda. according to prime minister datuk seri najib tun razak, moving towards this economy is crucial especially in efforts to integrate the economy with the global economic network. malaysia needs to continue to bring changes to the economy in order to move towards innovation-led economy. the three main features are creativity, innovation value and high skills. to achieve such noble endeavour, malaysia has no option but to nurture “pioneering minds” – to simply put, malaysia is in dire needs of human capital that are innovative, creative and proactive. against this backdrop, the national economic advisory (2010) has outlined several strategic plans to transform malaysia’s economy by focusing on strengthening and intensifying human capital development. human capital needs to be equipped with necessary competencies and entrepreneurial activities to ensure that the private sector is the vanguard of economic development. in nurturing ‘pioneering minds”, the human capital approach could be leveraged by certain dimensions that could create new knowledge. although human capital may be the origin of all knowledge, learning requires that individuals exchange and share insights and knowledge, which represent social embedment. additionally, organisational architecture that is pro-innovativeness should be designed in promoting the development of human capital. the dimensions such as management support, work discretion, rewards, time availability and risk taking could foster human capital to induce innovativeness. therefore, this research aims at investigating predictors that could nurture the “pioneering minds” by exploring the innovative performance of human capital by leveraging the social embedment and proinnovativeness organisational architecture which lead to excellent organisational performance. this research contributes to the existing literature on human capital and innovation by having better understanding on the specific factors that nurture the “pioneering minds” which are crucial for innovative performance. fostering “pioneering minds” is extremely important especially in the effort to shift malaysia towards innovation-centred economy. the malaysian government is confident of achieving the target provided that the human capital is leveraged in ensuring innovation at the highest level. human capital, conceptualized as the knowledge and knowing capability of an organisation represents one of the most relevant antecedents of innovation, which has become the fundamental for achieving competitive advantage (martinez-ros and salas-fumas, 2004; zhou, 2006). the importance of human capital for innovation has attracted researchers interested in examining its factors by which it enhances the innovative capabilities and performance of the organisations. in fact, the changes that are taken place in today’s business landscape have exerted pressure for organisations to compete towards organisational sustainability by providing high quality and innovative products and services. in order to achieve this, organisations need to emphasise on boosting and enhancing intrapreneurial spirit among employees to sustain in longer run. in line with this, it is accepted that organisation’s innovation capabilities are more closely linked to their intellectual capital to their fixed assets (subramaniam and youndt, 2005). some evidence suggest that an organisation’s human capital is positively associated with its innovative capability (alegre, lapiedra and chiva, 2006; mckelvie and davidsson, 2006) and many studies have attempted to determine the direct effect of human capital on innovation. however, despite the role that human capital is assumed to have on innovation, few studies have considered human capital as a variable that mediates the effects of other variables on innovation. therefore, this research is hoped to have a better understanding of how human capital i.e. highly knowledgeable and skilled employees will be leveraged by different variables such as social embedment and pro-innovativeness organisational architecture in order to achieve innovative performance as well as the organisational performance. 52 journal the winners, vol. 13 no. 1, maret 2012: 50-57 in malaysia, the study of innovation is becoming prevalent and the malaysian government has taken various measures to face the stiff competition and one of the approaches is via invigorating intrapreneurial spirit among the employees to enhance productivity, innovativeness and job performance. as reported in the economic transformation programme report, malaysia’s strategic plan to transform its economy focuses on strengthening and escalating human capital development (national economic advisory, 2010). as clearly highlighted by the prime minister of malaysia, dato seri najib tun razak, malaysia aspires to reach the highest standards with regard to the skills, knowledge and abilities of its human capital as well as to foster entrepreneurial spirit especially in the innovation-centred economy. nevertheless, as for malaysia, the declining trend in the ranking of global competitiveness index, from 21st place in year 2009 to 26th in year 2011 (world economic forum, 2010), is a worrying phenomenon. a mechanism to rectify this situation is to nurture “pioneering minds” in fostering innovativeness and entrepreneurship spirit among malaysia workforce to enhance productivity and performance. malaysia government has started to set the foundation for the knowledge-based economy in the mid-1990s, among others, with the launching of the national it agenda and the multimedia super corridor (msc). the knowledge-based economy will provide the platform to sustain a rapid rate of economic growth and enhance international competitiveness so as to achieve the objectives of vision 2020. nevertheless with the current situation that are uncertain and dynamic, malaysia needs to encourage “pioneering minds” among the human resourcesto be innovative, creative and proactive in order to move towards innovation-centred economy. malaysia has to strengthen its capability to innovate, adapt and create indigenous technology, design, develop and market new products. furthermore, the government also has granted the “strategic knowledge-based status” to organisations that have potential to generate knowledge content, high value-added operations, usage of high technology, and a large number of knowledge workers and posses a corporate knowledge-based master plan. in brief, malaysia government has put an effort and continuous investment in its human capital to enhance technical skills, proactiveness, creativity and innovativeness to drive the knowledge-based and innovation-centred economy. malaysia now has moved towards a sustainable economy, and has shifted the agricultural based production based economy to k-based economy to innovation-centred economy where knowledge, “know-how” and innovativeness become the main drivers for economic growth (mosti, 2010). it is without doubt that the efforts to boost organisations’ competitiveness and success would have significant impact on the overall economy of the nation. in line with the malaysian government aspiration to transform its economy by fostering innovative performance via innovative human capital, the study on innovation and human capital warrants significant attention. previous studies have investigated the relationship between innovation and human capital (alegre, lapiedra and chive, 2006; mckelvie and davidsson, 2006), however, despite the role that human capital is assumed to have on innovation, very limited studies have considered the factors that could nurture the “pioneering minds” that is to capture on innovative human capital that are able to drive innovative performance. besides, the role of human capital as a variable that mediates the effects of other variables on innovation also need to be examined.. taking this into consideration is crucial because it would help the researchers to better understand the factors associated with innovative human capital which in turn could improve innovative capability and organisational performance. in this sense, the “pioneering minds” could be achieved by leveraging the innovation of human capital through social embedment and pro-innovativeness organisational structure. given that innovation is essentially an exercise in collaboration, social embedment plays a key role both directly improving human capital and stressing its effects on innovation. hence, improving individual knowledge and creating the conditions for sharing it are issues that deserve attention. on top of that, the organisational architecture that support innovativeness via intrapreneurial activities, as an internal climate factor, could help to foster innovative human capital (alpkan, bulut, gunday, ulusoy and kilic; 2010). for instance, organisational architecture that pro-innovativeness which refers transforming malaysia..... (hasliza abdul halim; noor hazlina ahmad) 53 to a suitable organisational setting in which intrapreneurs may easily access to necessarily organisational resources and conditions to develop and implement innovative ideas and projects may encourage the overall organisational innovativeness (raisch and birkinshaw, 2008). based on this, it is worth to investigate their combine effect on innovative human capital and innovative performance. as the above discussion suggests, there is still much more that needs to be unearthed about nurturing “pioneering minds” that could assist in reaching innovation performance at the highest level. the scope for the development of this promising field of research should examine the following issues which are translated into the objectives of this research, as such, this study embarks on the following objectives: (1) to assess the direct relationship between social embedment (i.e. relational and structural) and innovative human capital; (2) to assess the direct relationship between proinnovativeness organisational architecture ( management support, free time, work discretion, reward and risk taking) on innovative human capital; (3) to recommend a conducive ecosystem in nurturing “pioneering minds” among the human resources in malaysia. discussion innovative human capital and innovation previous research has identified human resources (hr) as important sources of innovation and competitiveness – but not all employees have strategic value. only hr that are valuable, rare, unique, and organised can provide a competitive advantage. other employees who perform secondary, repetitive tasks are not generating value (barney and wright, 1998). in other words, human capital is defined as the set of knowledge, skills and abilities possesses by employed workers (subramaniam and youndt, 2005). this perspective has crucial implications for research in hrm and is compatible with both the resource based view of the organisation and the knowledge-based view. according to boxall (1996), organisations could generate human capital by recruiting and retaining outstanding people and the hr must be scarce and inimitable and their knowledge, skills must also generate value for the customer (barney, 1991; collis and montgomery). considering the human capital approach, the value, uniqueness, creativity, innovativeness and proactiveness are the most relevant features for innovation (de jong & wennekers, 2008). since the knowledge possesses by an organisation’s personnel is closely connected to its products and services, it is clear that an organisation’s ability to produce new products and otherwise extend its organisational capabilities is linked to its human capital (mckelvie and davidsson, 2006). in this case, the most distinctive and inimitable resource available to organisations is embodied knowledge, that enables organisations to manipulate and transform organisational resources effectively (foss, 2007) and play an essential role in the organisations’ ability to innovate (galunic and rodan, 1998). innovation can be applied in three different ways (kimberly and evanisko, 1981). first, innovation can be seen as a discrete element that includes the development of products or services. second, innovation can be considered as a process itself. finally, there is a notion of innovation an organisational capability (innovativeness and/or innovative capability). these assumptions raise issues on which characteristics of knowledge enable innovation. this is because creative people must deal with novel, fresh and ambiguous problems, they tend to display strong, valuable and irreplaceable knowledge and skills (mumford, 2000). these conditions can only be produced by innovative human capital, which is positively associated with innovations. employees with abilities are willing to experiment and apply new knowledge (taggar, 2002). moreover, previous research on innovative activity has identified the importance of individual expertise and knowledge, which allows employees to generate novel ideas and produce innovation (anand, gardner and morris, 54 journal the winners, vol. 13 no. 1, maret 2012: 50-57 2007). nevertheless, while valuable knowledge is a perquisite for innovation, knowledge itself cannot develop new products. r&d departments not only exploit the human capital but also require creativity, unique knowledge, social embedment and organisational support to foster innovations. social embedment and innovative human capital social embedment has been conceptualised as the sum of the actual and potential resources embedded within, available through and derived from networks of relationships possessed by an individual or social unit (cabello-medina et al, 2011). spender (1996) uses the term ‘collective knowledge’ which is tacit and situated in a social dimension and is the most difficult aspect to mange and measure. according to nahapiet and goshal (1998) there are two types of social embedment. first is the structural embedment which includes the pattern of relationships among actors and the existence of network ties and configuration in terms of density, connectivity and hierarchy, besides other aspects. second, is the relational embedment which relates to the type of relationships that people develop among themselves over the time. this includes aspects of relationships that influence people’s behaviour, such as friendship, trust and respect. social embedment affects innovation through its effect on human capital. the idea is supported by the research on innovation, which suggests that the development of new products and services results not only from individual effort but also from the creative cooperation at the social level (leonard and sensiper, 1998). as a result, social embedment and innovative human capital are not independent variables, rather they interact to improve innovative performance. according to adler and kwon (2002), high levels of social embedment can enhance skills and capabilities of individuals. social embedment facilitates access to broader sources of information and improves information’s quality, relevance and timeliness. these situations allow individuals to enhance their knowledge through everyday interaction with colleagues. in this manner, the inimitable value of human capital can be enhanced by social relations. in summary, the individuals’ human capital can be more innovative, valuable and unique by ways of interaction and networking with other people (reed et al. 2006). pro-innovativeness organisational architecture and innovative human capital the necessity of creating an inner environment that is conducive to internal entrepreneurship and individual commitment to sustainable corporate innovativeness has already been mentioned in the previous literature (e.g. rothwell, 1975). an organisation-wide entrepreneurial spirit to cope with and benefit from rapidly changing market place conditions would be possible if a suitable internal support climate is established, where intrapreneurs engage in opportunity-seeking entrepreneurial behaviours (jeong et al., 2006). intrapreneurship or entrepreneurship within existing organisations refers to employee initiatives in an organisation to start undertake something new although he or she is not being asked to do so. a suitable organisational milieu for intrapreneurial activities to flourish innovative human capital requires behavioural patterns for pioneering innovative ideas in their products, operational and managerial processes, structures and markets (alpkan et al., 2010). according to de jong & wennekers, 2008), there are several important elements on how to establish a suitable environment and organisational architecture that focus on innovation for intrapreneurship. these elements include management support for promoting and encouraging innovative human capital in generating new business ideas, allocation of free time, convenience organisational structure to promote innovative human capital, appropriate use of incentives and rewards and tolerance for risk taking. it has been stressed that organisation should capitalize on their employees’ ability to innovate in order to transform the organisation to be more competitive (de jong & hartog, 2007). therefore, in transforming malaysia..... (hasliza abdul halim; noor hazlina ahmad) 55 an organisation, the workforce could play a vital role in the innovation process by demonstrating the idea-generation behaviour via efforts such as persuading or selling ideas to others and devoting to developing testing and commercialising the ideas. proposed conceptual framework it is noted that all innovation is premised on a single condition: organisations must possess innovative human capital that are valuable, unique, proactive, creative and innovative. by combining these requirements associated to social embedment and pro-innovativeness organisational architecture in the entrepreneurial activities, the framework (figure 1) which is based on the development of a type of human capital necessary for innovation will be promoted.   figure 1. conceptual framework. based on the conceptual framework advanced for this research, the hypotheses conjectured for further empirical testing are as follow: h1 : social embedment (structural and relational) will have a positive impact on innovative human capital (unique, valuable, proactive, innovative and creative). h2 : pro-innovativeness organisational architecture (management support, free time, work, rewards and risk taking) will have a positive impact on innovative human capital (unique, valuable, proactive, innovative and creative). conclusion it is certain that good research in the area of innovative human capital and innovation will contribute to the existing literature on strategic hrm, knowledge management and business innovation. empirical research is required in understanding the concept of “pioneering minds” that is to provide a better description of the influence exerted by social embedment and pro-innovativeness organisational architecture on innovative human capital. in this sense, the understanding of the direct and combined effects on innovative performance will add to the body of knowledge in strategic hrm literature. in other words, to nurture “pioneering minds” is simply to understand that the innovative human capital should capture the elements of valuable, uniqueness, pro-activeness, creativity and innovativeness and this can only be achieved by leveraging and enhancing through social embedment and pro-innovativeness organisational architecture for entrepreneurial activities. 56 journal the winners, vol. 13 no. 1, maret 2012: 50-57 this is even more important in the context of malaysia as the government has envisaged transforming malaysia from a knowledge-based economy to innovation-centred economy by leveraging on the productivity, innovativeness and participation of all in the economic activity. insights obtained from this research will assist organisations to achieve competitiveness and sustain in the dynamic business environment by investing in innovative human capital. if the innovative performance in an organisation is low, then the quality of human resources should be increased. by embracing the element of social embedment and establish an environment that pro-innovation, the innovative human capital could be enhanced and lead to a major jump in innovative performance. policy makers will be able to better understand the issues of innovative human capital and innovation and to provide support for organisations in their effort to stimulate innovative capability via innovative human resources. in realising the transformation of malaysia’s economy, the private sectors should foster entrepreneurial behaviours among the workforce to boost creativity and innovativeness and subsequently achieve organisational performance and competitiveness. references adler, p. s. and kwon, s.w. (2002). social capital: prospects for a new concept. the academy of management review, 27 (1), 17-40. alegre, j., lapiedra, r. and chiva, r. (2006). a measurement scale for product innovation performance. european journal of innovation management, 9, 333-346. alpkan, l., bulut, c., günday,g., ulusoy, g. and kilic, k. (2010). organizational support for intrapreneurship and its interaction with human capital to enhance innovative performance. management decision, 48 (5), 732-755. anand, n., gardner, h. k. and morris, t. (2007). knowledge based innovation: emergence and embedding of new practice areas in management consulting firms, academy of management journal, 50, 406-428. barney, j. b. (1991). firm resource and sustained competitive advantage. journal of management, 17, 99-120. barney, j. b. and wright, p. m. (1998). on becoming a strategic partner: the role of human resource in gaining competitive advantage. human resource management, 37, 31-46. boxall. p. (1996). the strategic hrm debate and the resource based view of the firm. human resource management journal, 6, 59-75. cabello-medina, c., carmona-lavado, a., pérez-luño, a. and cuevas-rodríguez, g. (2011). do best and worst innovation performance companies differ in terms of intellectual capital, knowledge and radicalness? african journal of business management, 5 (28), 11450-11466. collis, d. and montgomery, c. (1995). competing on resource: strategy in the 1990s. harvard business review, 73, 118-128. de jong, j. and hartog, d. n. d (2007). how leaders influence employees’ innovative behaviour. european journal of innovation management, 10 (1), 41-64. transforming malaysia..... (hasliza abdul halim; noor hazlina ahmad) 57 de jong, j. and wennekers, s. (2008). intrapreneurship: conceptualizing entrepreneurial employee behaviour. scales research reports h200802, eim business and policy research. foss, n. j. (2007). the emerging knowledge governance approach: challenges and characteristics. organization, 14, 29-52. galunic, c. and rodan, s. (1998). resource recombinations in the firm: knowledge structures and the potential for schumpeterian innovation. strategic management journal, 19, 1193-1201. jeong, i., pae, j.h. and zhou, d. (2006). antecedents and consequences of the strategic orientations in new product development: the case of chinese manufacturers. industrial marketing management, 35, 348-358. kimberly, j. r. and evanisko, m. j. (1981). organisational innovation: the influence of individual, organizational and contextual factors on hospital adoption of technological and administrative innovations. academy of management journal, 24, 689-713. leonard, d. and sensiper, s. (1998). the role of tacit knowledge in group innovation. california management review, 40 (3), 112-132. mckelvie, a. and davidsson, p. (2006). from resource base to dynamic capabilities: an investigation of new firms. british journal of management, 20, 63-80. mumford, m. (2000). managing creative people: strategies and tactics for innovation. human resource management review, 10, 313-351. nahapiet, j. and ghoshal, s. (1998). social capital, intellectual capital, and the organizational advantage. academy of management review, 23, 242-266. national economic advisory. (2010). economic transformation programme report. retrieved september 2011, from http://www.neac.gov.my/node/80. raisch, s. and birkinshaw, j. (2008). organizational ambidexterity: antecedents, outcomes, and moderators. journal of management, 34 (3), 375-409. reed, k. k., lubattkin, m. and srinvasan, n. (2006). proposing and testing an intellectual capital based view of the firm. journal of management studies, 43(4), 867-894. rothwell, r. (1975). intracorporate entrepreneurs. management decision, 13 (3), 142-54. spender, j. c. (1996). making knowledge the basis of dynamic theory of the firm. strategic management journal, 17, winter special issues, 45-62. subramaniam, m. and youndt, m. a. (2005). the influence of intellectual capital on the types of innovative capabilities. academy of management journal, 48, 450-463. taggar, s. (2002). individual creativity and group ability to utilize individual creative resources: a multilevel model. academy of management journal, 45, 315-330. zhou, k. z. (2006). innovation, imitation and new product performance: the case of china. industrial marketing management, 35, 394-402. expatriates perceptions …… (damar aji irawan) 83 expatriates perceptions toward hofstede’s indonesia cultural dimensions damar aji irawan international business management program, school of business management, universitas bina nusantara jln. k. h. syahdan no. 9, palmerah, jakarta 11480, indonesia damaraji.irawan@binus.ac.id abstract the goal of this research was to explore the experiences of expatriates in indonesia, related to hofstede’s indonesia cultural dimensions. this study applied a phenomenological qualitative study and used purposive sampling to select the participants. data were gathered using the semi-structured interview with appointments set before the meeting. the interviews were conducted on an individual basis and were recorded. then, the data were transcribed and analyzed through coding and categorizing until sets of themes occurred. the results show that the majority of participants agree indonesia has collectivism and low uncertainty avoidance culture. meanwhile, the expatriates’ experiences toward high power distance dimension in indonesia vary. keywords: expatriates perception, cross-cultural management, hofstede’s cultural dimensions introduction in this globalization era, more companies are expanding and entering foreign markets. hence, multinational companies continue to rely heavily on expatriate assignments to increase their competitiveness in the global marketplace (brookfield global relocation services, 2016). such phenomenon is becoming part of international business and management study. in the area of international business studies, the term ‘expatriates’ commonly describes corporate employees working outside of their home countries (shimoda, 2017). indonesia is one of the expatriates’ destination country and also one of the most important hosts of transnational corporations in southeast asia since the dutch colonial era when such corporations cooperated with the dutch colonial system (sluyterman, 2013). as a consequence of entering foreign markets, culture collusions are more likely to appear. hofstede (2010) stated that culture is more often a source of conflict than synergy, suggesting that cultural differences are a sign of disaster. therefore, knowledge about cultural dimensions is essential for expatriates before arriving in foreign countries. there are six dimensions of national culture; (1) power distance, (2) individualism v collectivism, (3) masculinity v femininity, (4) uncertainty avoidance, (5) long-term v short-term orientation, and (6) indulgence v restraint (center, 2015). power distance expresses the degree to which the members of a society accept and expect that the power is distributed unequally. the fundamental issue here is how a society handles inequalities among people (ly, 2013). individualism can be defined as a preference for a loosely-knit social framework in which individuals are expected to take care of only themselves and their immediate families. its opposite, collectivism, represents a preference for a tightly-knit framework in society in which individuals can expect their relatives or members of a particular in-group to look after them in exchange for unquestioning loyalty. society's position on this dimension is reflected in whether 84 journal the winners, vol. 18 no. 2, september 2017: 83-92 people’s self-image is defined regarding “i” or “we” (brewer & venaik, 2011). the masculinity side of hofstede’s dimension represents a preference in society for achievement, heroism, assertiveness, and material rewards for success. the opposite, femininity, stands for a preference for cooperation, modesty, caring for the weak, and quality of life (center, 2015). the uncertainty avoidance dimension expresses the degree to which the members of society feel uncomfortable with uncertainty and ambiguity (venaik & brewer, 2010). long-term or short-term orientation is related to how every society has to maintain some links with its own past while dealing with the challenges of the present and the future. thus, societies who score low on this dimension prefer to maintain time-honored traditions and norms while viewing societal change with suspicion. on the other hand, those with high scores, take a more pragmatic approach as they encourage thrift and efforts in modern education as a way to prepare for the future (minkov & hofstede, 2012). indulgence stands for a society that allows relatively free gratification of basic and natural human drives that are related to enjoying life and having fun. restraint stands for a society that suppresses gratification of needs and regulates it by restricting social norms (center, 2015). according to brock et al. (2008), power distance is confirmed as prime predictors of expatriate deployment. consequently, the power distance index plays an important role when selecting candidates for overseas assignments. apart from that, six dimensions of national culture are also considered important because, as dartey-baah (2013) explained that both national cultures and organizational cultures are the main determinants of the success or failure of the multinational business. this research tries to answer a question related to the power distance; individualism v collectivism, and uncertainty avoidance dimensions. specifically, that question is; are there any differences between hofstede’s research of indonesia and the expatriates’ experiences of these three dimensions in the research? hence, the objective of this research is to explore the experiences of expatriates in indonesia, in relation to three of hofstede’s indonesia cultural dimensions. methods this study applies a phenomenological qualitative study because it attempts to explore the experiences of expatriates in cross-cultural settings. the phenomenological study tries to understand how participants make sense of their experiences and involve a process of interpretation by the researcher (flick, 2009). however, personal biases or beliefs should be eliminated when doing this type of research in order to not interfere with the researcher’s ability to see the phenomenon. purposive sampling is used to select the participants because it allows the researcher to select cases based on researcher’s decision in order for the question and objective to be met and answered (saunders, lewis, & thornhill, 2015). the subject’s first selection criterion is men and women expatriates who are currently staying and working in jakarta, indonesia. second, they are working in any government, private agencies or companies in jakarta and have been working there for more than six months. third, each participant is expected to have exposure to locals at their workplace. the data are gathered using semi-structured interview, and the appointments are set before the meeting. the interviews are conducted on an individual basis and are also recorded. the interviews take place outside of the workplace and last from 45 minutes to over an hour and a half. in order to open the interview and lead the discussion to the expatriates’ experiences, open-ended questions are asked. then, the data are transcribed and analyzed through coding and categorizing until sets of themes occur. moreover, the research also uses interpretative phenomenological analysis (ipa) of expatriates perceptions …… (damar aji irawan) 85 data. the interview questions generally focus on the participants’ perceptions toward three of hofstede’s indonesia cultural dimensions: high power distance, collectivism, and low uncertainty avoidance. the semi-structured interview is the main method of gathering data to answer the research question. results and discussions the profile of the participants is explained in table 1. it can be seen that the interview has been conducted with 19 male and 7 female expatriates. the respondents’ duration of stay in jakarta, indonesia varies from 6 months to 29 years. similarly, the participants’ occupation and country of origin also vary broadly. hence, the subjects’ selection criteria are fulfilled. table 1 profile of the participants respondents occupation country of origin duration of stay gender respondent 1 engineer china 2 years male respondent 2 graphic designer usa 5 years male respondent 3 project manager china 6 months male respondent 4 english teacher united kingdom 5 years and 6 months male respondent 5 it expert india 1 year and 7 months male respondent 6 it expert taiwan 2 years male respondent 7 english lecturer india 6 years male respondent 8 general manager usa 2 years male respondent 9 english teacher usa 2 years and 7 months male respondent 10 business owner usa 5 years and 2 months male respondent 11 education consultant united kingdom 8 months male respondent 12 teacher philippines 11 years male respondent 13 teacher east timor 2 years male respondent 14 general manager australia 2 years male respondent 15 client head manager mexico 4 years male respondent 16 sales director usa 8 years male respondent 17 lecturer hungary 2 years male respondent 18 lecturer usa 29 years male respondent 19 embassy staff switzerland 1 year male respondent 20 engineer china 4 years female respondent 21 engineer india 7 years female respondent 22 italian language teacher italy 1 year and 2 months female respondent 23 lecturer philippines 11 years female respondent 24 english teacher united kingdom 10 years female respondent 25 business owner china 1 year female respondent 26 lecturer united kingdom 16 years female according to hofstede (2010), the dimensions of indonesia national culture can be seen in figure 1. it can be seen that indonesia scores high on power distance dimension with a score of 78. this means that the following characterizes the indonesian society are; (1) being dependent on hierarchy, (2) unequal rights between power holders and non-power holders, (3) superiors inaccessible, and (4) leaders directing, controlling, and delegating, (5) power is centralized and managers count on the obedience of their team members, (6) employees expect to be told what to do and when, (7) control is expected and managers are respected for their position, lastly, (8) communication is indirect and negative feedback is hidden (hofstede, 2013). 86 journal the winners, vol. 18 no. 2, september 2017: 83-92 figure 1 the dimensions of indonesia national culture (hofstede, 2010) indonesia, with a low score of 14, is a collectivist society. this means that there is a high preference for a tightly-knit social framework in which individuals are expected to take care of their relatives or members of the groups to which they belong (hofstede, 2013). indonesia scores 46 on the masculinity dimension which is considered low masculinity. in indonesia, the status and visible symbols of success are important, but it is not always material gain that brings motivation. often, it is the position that a person holds that is more important to them because of an indonesian concept called gengsi, loosely translated to be outward appearances (hofstede, 2013). indonesia scores 48 on the uncertainty avoidance dimension which means indonesia has a low preference for avoiding uncertainty. when a person is upset, it is habitual for indonesians to not show negative emotion or anger externally. they will keep smiling and be polite, no matter how angry they are inside. this also means that maintaining workplace and relationship harmony is very important in indonesia and no one wishes to be the medium for bad or negative news or feedback. another aspect of this dimension can be seen in conflict resolution. direct communication as a method of conflict resolution is often seen to be a threatening situation and one that indonesians are uncomfortable with. a successful method of conflict diffusion or resolution is using a third party intermediary, which has many benefits. this permits the exchange of views without loss of face. moreover, since one of the main manifestations of indonesia’s uncertainty avoidance is to maintain the appearance of harmony in the workplace, an intermediary removes the uncertainty associated with a confrontation. perhaps a key phrase in the indonesian language that describes how this works is asal bapak senang (keep the boss happy). keeping the boss happy means that the employees that do such things will be rewarded and kept as a valuable member of the company (hofstede, 2013). indonesia's high score of 62 in the next dimension indicates that it has a pragmatic culture. in societies with a pragmatic orientation, people believe that truth depends very much on the situation, context, and time. they show an ability to easily adapt traditions into changed conditions, a strong propensity to save and invest, thriftiness, and perseverance in achieving results (hofstede, 2013). the low score of 38 in the indulgence dimension shows that indonesia has a culture of restraint. societies with a low score in this dimension tend towards cynicism and pessimism. furthermore, the restrained societies do not put much emphasis on leisure time and control the gratification of their desires. people with this orientation have the perception that their actions are restrained by social norms, and they feel that indulging themselves is somewhat wrong (hofstede, 2013). the following results that are shown in table 2 occurred after analyzing the data. expatriates perceptions …… (damar aji irawan) 87 table 2 expatriate’s experience related to high power distance respondents high power distance agree disagree no comment respondent 1 v v respondent 2 v v respondent 3 v v respondent 4 v respondent 5 v respondent 6 v respondent 7 v v respondent 8 v v respondent 9 v respondent 10 v respondent 11 v respondent 12 v respondent 13 v respondent 14 v v respondent 15 v respondent 16 v v respondent 17 v respondent 18 v v respondent 19 v respondent 20 v respondent 21 v respondent 22 v respondent 23 v v respondent 24 v respondent 25 v respondent 26 v v total 18 16 2 according to hofstede (2011), the characteristics of high power distance in the workplace are; (1) superiors are difficult to reach, (2) managers are respected for their position, (3) communication is indirect, (4) negative feedback is hidden, (5) there are inequalities because of the hierarchy, and (6) subordinates expect to be told what to do by leaders. the expatriates have mixed experiences in the workplace related to this dimension. those experiences are shown in table 2. 18 interviewed expatriates agree that indonesia has high power distance in the workplace, while 16 disagree and 2choose not to comment. 10 expatriates say that they have seen evidence that indonesia has both high and low power distance. for example, respondent 18 say that the distance between manager and staff occurs because of the manager’s personality. some managers like to have distance and others do not. respondent 16, who works as sales director supervises 20 regional sales manager and hundreds of staff, experiences the distance between manager and staff when he was first appointed. however, after a year in charge, he decided to change such behavior, and now his company has successfully adopted low power distance culture. according to respondent 14, high power distance occurs when the managers are expatriates, and the staffs are indonesian. on the other hand, if the managers and the staffs are both indonesian, there is no distance. respondent 26 states that the management and the staffs at her workplace work together very closely. however, there is a huge distance between the lowest people in the organization and the top management, due to the work nature. top management has the responsibility to plan and make the decision, which is why they do not see other people in the organization very often. 88 journal the winners, vol. 18 no. 2, september 2017: 83-92 respondent 1 has told the researcher that low or high power distance culture depends on the company’s culture. in his company, the managers are easy to reach, and subordinates need to have their own initiatives. low power distance is used because his company is a multinational company. he adds that if he works in indonesian company, there would be a distance between managers and staffs as he heard it from one of his friend who is currently working in such company. meanwhile, respondent 7’s stance on high power distance in the workplace is in the middle. in spite of the high distance between the managers and staffs in his workplace, everybody is respected for their profession as long as they perform well. the bosses do not dominate and show that they are the bosses. the staffs can also communicate directly with their supervisor. similarly, respondent 8 also has mixed experiences related to this dimension. in his company, there is no distance because the majority of the co-workers have graduated from abroad, which is why they tend to be more open-minded. nevertheless, he agrees that indonesia generally has high power distance. he mentioned that when he started working, the office boy called him ‘pak’. he was not familiar with that kind of greeting because in the united states everyone called him using his first name or ‘mister’ followed with his last name. however, that is not the case with indonesian people who address others by saying ‘pak’ followed with the first name. based on that reason, he has concluded that indonesia has high power distance. table 2 shows that 6 interviewed expatriates disagree that indonesia has high power distance. respondent 3 says that the distance between manager and staff in indonesia is a bit closer than in china. respondent 5 also adds that the managers in his workplace are quite friendly with the employee and humble as they do not want to show that they are the bosses. as a family business owner, respondent 10 applies low power distance culture in his company. he states that such approach works very well in his company because talking and communicating directly with his indonesian employee build the close relationship. additionally, he says that showing respect to each other is essential when managing his indonesian employee. he still holds this belief even when his indonesian employee ironically dares to smoke in front of him, a behavior he does not dare do in america since it is disrespectful. respondent 11 and 12 have mentioned that the manager and staff in their workplace have the close relationship. respondent 15 also explains that there is no distance because the manager and staff are working as a team and are willing to help each other. respondent 20 similarly states that she does not see the distance because, in her company, both the manager and staff get along very well. respondent 23 replies that there is no distance because she always works in a team and when she leads a team full of indonesian people, she never pictures herself as a boss. instead, she always tells her subordinates that she is a part of the team; therefore they need to work together to achieve good results. related to how to give feedback toward indonesian employee, respondent 19 said that he criticizes his indonesian colleagues with subtle tone to make sure no one eavesdrop. according to him, there are some colleagues who want to listen to criticism and some who are not. respondent 23 also agrees that it is difficult to criticize indonesian people because they are sensitive. hence, she always criticizes carefully by giving feedback with positive tone instead of only judging her colleagues’ mistakes. respondent 3 mentions that he never criticizes his colleagues because he thinks that such action would cause trouble. respondent 9 also never criticizes his indonesian colleagues directly. he alternatively uses jokes, which is a method that works very well. not only respondent 9, but respondent 11 also uses such method. respondent 21 uses non-offensive language if she wants to criticize her colleagues. respondent 4 agrees with hofstede’s explanation on indonesia cultural dimensions. he says that indonesia has indirect culture when it comes to criticism. respondent 6 uses the same criticism method in his country by never telling the mistakes in public and instead does it personally. in contrary, respondents 2, 8, 12, and 22 use their country’s method when criticizing their colleagues by talking directly and honestly about the mistakes that they did. respondent 15 disagrees that negative feedback should be hidden. it is because his coworkers are very open-minded and willing to take negative feedback as they believe it will improve their work quality. hence, the following themes occur in relation to expatriates’ experiences toward power distance index in indonesia; expatriates perceptions …… (damar aji irawan) 89 manager’s personality, expatriate’s country of origin, company’s culture, and co-worker’s education affecting the relationship of managers and subordinates in indonesia. dartey-baah (2013) said that leaders from high power distance cultures tend to be very authoritative, and such behavior might lead to problems especially when managing people form low distance cultures. according to interviewed respondents, organizational culture influences the kind of power distance that the company uses. hence, it might be easier for assigned expatriates to manage indonesian subordinates as they are already familiar with the company’s culture. the characteristics of collectivism in the workplace are; (1) stress on belongings, (2) importance of we, (3) constant maintaining of harmony, (4) predetermined opinions and votes by group, (5) relationship prevailing over tasks (hofstede, 2011). the expatriates’ responds could be found in table 3. table 3 expatriates’ experiences related to collectivism respondents collectivism agree disagree no comment respondent 1 v respondent 2 v respondent 3 v respondent 4 v respondent 5 v respondent 6 v respondent 7 v respondent 8 v respondent 9 v respondent 10 v respondent 11 v v respondent 12 v respondent 13 v respondent 14 v respondent 15 v respondent 16 v respondent 17 v respondent 18 v respondent 19 v respondent 20 v respondent 21 v respondent 22 v respondent 23 v respondent 24 v respondent 25 v respondent 26 v total 19 4 4 as seen in table 3, the majority of participants agree that indonesia has collectivism culture. only four of them disagree with that statement, while one has mixed arguments. there are diverse answers to the question of why they think that indonesia has individualism culture. respondent 1 says that his indonesian co-workers are unwilling to help him with his job and their reason is that they do not trust foreigners. this finding aligns with research by shimoda (2013). according to the research, expatriates are living in a bubble, meaning that they are creating a distance with host nationals, thus are considered as outsiders by the locals (shimoda, 2013). respondent 4 states that indonesian people, 90 journal the winners, vol. 18 no. 2, september 2017: 83-92 especially those who live in big cities such as jakarta, has individualism culture. respondent 9 explains that in his company there is no collectivism culture. meanwhile, respondent 11 states that in his company there are some who prefer to work individually and some who prefer otherwise. hofstede (2011) said that the characteristics of low uncertainty avoidance in the workplace are; (1) dislike of ruleswritten or unwritten, (2) comfort with ambiguity and chaos, (3) lower stress and anxiety level, and (4) having no problem to change jobs. table 4 displays the interview results. table 4 expatriates’ experiences related to low uncertainty avoidance respondents low uncertainty avoidance agree disagree no comment respondent 1 v respondent 2 v respondent 3 v respondent 4 v respondent 5 v respondent 6 v respondent 7 v respondent 8 v respondent 9 v respondent 10 v respondent 11 v respondent 12 v respondent 13 v respondent 14 v respondent 15 v respondent 16 v respondent 17 v respondent 18 v respondent 19 v respondent 20 v respondent 21 v respondent 22 v respondent 23 v respondent 24 v respondent 25 v respondent 26 v total 20 2 4 there are 20 respondents who agree that indonesia has low uncertainty avoidance culture. two respondents disagree with the statement by saying everyone is following the company rules. respondent 7 adds that people in indonesia are better at following rules than people in his country. conclusions based on the research’s results and discussion, it could be concluded that the majority of participants agree indonesia has collectivism and low uncertainty avoidance culture. such findings align with hofstede’s research. indonesia has a high score of 78 on power distance based on hofstede’s research, while in this research, the expatriate’s experiences vary. according to the respondents, high power distance culture in indonesia depends on the organizational culture, education expatriates perceptions …… (damar aji irawan) 91 level of indonesian employee, expatriates’ country of origin, and previous international expatriates assignment experiences. hence, the following framework could be drawn from this research. figure 2 research framework figure 2 indicates that expatriates’ perceptions are influenced by organizational culture, the education level of indonesian colleagues, expatriates’ country of origin, and previous international assignment. moreover, there is a relationship between expatriates’ perceptions and cultural dimensions. hopefully, this framework could be tested using quantitative analysis in the future to supplement this research and deepen the knowledge in the area of 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(2010). avoiding uncertainty in hofstede and globe. journal of international business studies, 41(8), 1294-1315. https://doi.org/10.1057/jibs.2009.96. http://geerthofstede.com/research-and-vsm/dimension-data-matrix/ http://geerthofstede.com/research-and-vsm/dimension-data-matrix/ http://dx.doi.org/10.9707/2307-0919.1014 https://www.geert-hofstede.com/indonesia.html https://www.geert-hofstede.com/indonesia.html https://doi.org/10.1177/0022022110388567 https://doi.org/10.1080/09585192.2013.781523 https://doi.org/10.4324/9780203023167 microsoft word 03_ak_wendy endrianto_220816_rev1.docx maximizing strategy…… (wendy endrianto) 19  maximizing strategy with an effective balanced scorecard wendy endrianto accounting and finance department, faculty of economic and communication, bina nusantara university, jln. k.h. syahdan no 9, jakarta barat, dki jakarta, 11480 w.endrianto@binus.ac.id abstract the research was conducted by studying the literature on the topic discussed. presented descriptively in a systematic way to address each of the key discussion on this research, then connecting factors correlated with each other were finally seeking a conclusion the most effective method in meeting the company's goals. then, through this study it can be concluded that in order to synergize between vision, mission and strategy of the company in regard to improving the company's performance is by communicating the balanced scorecard from top management down to the lower level of management so that all elements of the company know their respective roles in order to achieve company’s goal. keyword: company strategy, vision, mission, financial performance, balance scorecard. introduction vision and mission are the starting point for strategic planning and corporate objectives. key performance indicator (kpi) of the business will measure the extent to which the progress made in achieving objectives that flow from the vision. efforts in achieving this vision will always involve a change towards a better future. there are risks in making the necessary changes in the course of this, but the leaders have to convince members that there is a greater risk if persisted in the current circumstances. susanto (2008) has explained that the determination of the vision and the mission begins with a look at where the position of the business now and where we want to be in the future and then describe a vision of the future for the business. to build an organization that can drive innovation and advanced through changes, organizational leaders must start with clear objectives and communicate them to everyone who has the same goal. a successful leader spends time with their team. they illustrate the vision, goals, and challenges faced in achieving the vision and objectives. nothing is more important than communicating the visions and goals of the company. the leaders brief the people about the importance of their role in realizing the vision and meet the challenges ahead. they inspire subordinates to think, act and behave like entrepreneurs who are eager to find innovative ways to achieve success. leadership gives spirit, vision, and psychological adhesive that unite the organization in all its activities. management missions, maintain accountability and help ensure the realization of participation and commitment from the entire organization. we can not build passionate, committed, and enthusiastic organization or team members if they do not know where they are going. they have to find their own destination and then follow them. there are the importances of vision presentation in a dramatic way to provide durability. in the development and formulation of vision and mission, it should be emphasized that a good formulation of the vision and mission should not only compiled and formulated alone since the 20 journal the winners, vol. 17 no. 1, march 2016: 19-27  beginning but must be communicated and shared with other members. the vision and mission are communicated and shared the main idea so that the company can continue to grow and enter into a new dimension. a shared vision together is a contribution that gives strength to the meaning of work. so ownership of the vision and mission of the whole member organization is important. the mistake that often occur in a company is where the organizational structure always comes in advance rather than the strategy itself. the development of strategy should be the first thing to do, and then in order to implement this strategy, an appropriate structure can be drawn up. this is the trap that often happens; the strategy is made following the existing structure. key performance indicator (kpi) of the business will measure the extent to which the progress made in achieving the vision and mission which is measured by seeing how far the performance of the employees in its favor. performance is a real achievement that is displayed after the relevant person's duties and role in the organization or company. performance systematically explains the relationship between work with the strengths and weaknesses that are owned by individuals or groups. rivai & basri (2005) have defined performance as a result or a person's overall success rate during a certain period in performing tasks compared to those possibilities, such as a standard work, the target or criteria that have been determined in advance has been agreed. while mathis & jackson (2006) have stated that the performance is essentially what is done or not done by the employee. performance management is the overall activities undertaken to improve the performance of the company or organization, including the performance of each individual and group work at the company. further related to the assessment of the performance of the company, the formulation of the balanced scorecard is often considered as ineffective implementation. ineffectiveness is due to several factors and especially the inability of management to synergize between vision and mission of the company with the existing scorecard. no third synergetic these variables will be felt on the employees at the manager level down; it is associated with the assessment of their performance that led to the amount of the bonus received. this research reviews how to maximize the strategy by creating an effective balanced scorecard so that they can work together to achieve the vision and mission of the company which is the agreement of all levels of an organization. the more effective synergy is formed, it will increase the competence of the company to compete in the business world because of the company's strategy is right on target. the authors trust this study would provide a positive thought for the business world from the perspective of applied science about how to synergize the existing strategy with the balanced scorecard. in the midst of business competition intensifies, this method will be considered very effective and efficient in order to survive in the throes of economic and political conditions of the world today. methods the research is conducted by studying the literature on the topic discussed. there are two keywords that are discussed in this article, the strategy and the balanced scorecard, how to synergize in order to achieve the company's objectives effectively and efficiently. maximizing strategy…… (wendy endrianto) 21  results and discussions mulyadi (2007) has defined that the strategic management as a process used by managers and employees to formulate and implement strategies by providing the best customer value to realize the company's vision. basically, the strategic management is an effort to build the management and employees of the company's future. the strategy is the main action pattern selected to realize the vision of the company, through the mission. from the definition above, there are four important conclusions as follows: (1) strategic management is a process; (2) process is used to formulate and implement strategies; (3) strategy is used in the provision of customer best value for realizing the company's vision; (4) managers and employees are perpetrators of strategic management. strategic planning is a process of selecting the destination, the determination of strategies, strategic programs, and the establishment of methods that are needed to then be implemented in the operational activities of the company. strategic planning consists of short-term planning and long-term well crafted to achieve company goals. there are three important reasons of strategic planning are: (1) strategic planning framework provides the basis for other planning; (2) strategic planning will facilitate an understanding of other forms of planning; (3) strategic planning is the starting point for the assessment of managers and organizational activities. hrebiniak (2005) has expressed several factors that obstruct the successful implementation of the strategy as follows: (1) managers are trained to make plans but not trained to implement the plan. (2) the top managers of companies have confidence that the implementation of the strategy will be carried out by the company's human resources at a level below them. (3) there is a separation between those who make plans with which to implement the strategy as part of the planning. whereas the planning and execution of the strategy is well aligned. supposedly implementing the strategy is also a strategy formulator, so as to take into account the constraints of strategy execution that may occur in the future. (4) execution strategy has a time period longer than the time required for strategy formulation. in the execution of long-term strategy, a variety of problems that are not visible at the time the plan was made to appear and it can exert pressure on the managers who implement the plan. execution of strategy in the long-term also has a high risk of failure when the control system of the company is not able to provide adequate feedback about why a strategy failed to be implemented. (5) managers often view of strategy execution as an act or a single step and not see it as a process. whereas the execution of the strategy is a series of internal activities of the company are integrated and proceeds during the time the execution of the strategy. (6) execution of strategy needs more people to be involved compared to the current strategy. this raises a variety of issues, such as coordination, communication, and incentives for implementing the strategy implementation throughout the organizational structure. so it can be concluded that the strategic planning for the company is very important, because, without a strategy in managing the company, a manager looks like as if stepping into uncertainty. strategic planning is an important internal factor to be considered in planning and decision making. management with all the expertise required developing a suitable strategy for the company he leads. management strategy helps companies to face the changes that are not anticipated by the company in its present condition. the global economic crisis is the main obstacle that is often ignored by all of the company when the economy is in a good and profitable condition, but when the situation turned upside down, the role of strategic management becomes very important and necessary. it would be too late for the company to implement a management strategy when the company is already on the verge of a major problem because time can not be predicted and the situation can not be estimated. management strategy helps organizations collect, analyze, and manage information. they keep track of industry trends and competitive, developing forecasting models and scenario analysis, performance evaluation of companies and divisions, spot new market opportunities, identify business threats, creative and develop an action plan. 22 journal the winners, vol. 17 no. 1, march 2016: 19-27  the management strategy has a short-term organizational objective that must be achieved in order to achieve long-term goals. as long-term goals, annual goals must be measurable, quantitative, challenging, realistic, consistent, and prioritized. they should be set at the company, division, and functional at the level of large organizations. annual goals must be expressed in terms of management, marketing, finance/accounting, production/operations, research and development, and information systems. the annual target is required for any long-term goals. annual interest is particularly important in the implementation of the strategy, while the long-term goal is crucial in the formulation of the strategy. annual interest is an objective basis for allocating resources. the policy is a means of annual goals to be achieved. policies include guidelines, rules and, procedures are established to support the efforts to achieve the stated objectives. changes in one of the major components in the model may require a change to one or all of the other components. for example, changes in the economy can be a great opportunity and require changes in the long-term objectives and strategies; the annual failure to achieve the goal may require a change in policy, or the main rival of the change in strategy may require a change of mission strong. therefore, strategy formulation, implementation, and evaluation of activities should be carried out continuously, not just at the end of the year or semiannually. strategy management process never really ends. the implementation of the strategy management process is usually more formal and larger in a large organization. the balanced scorecard is the result of research robert s. kaplan and david p. norton in 1992 which reported the results of a research project on multi-company and introduced a performance assessment methodology oriented strategic view to the future. mulyadi (2007) has divided the two words “balance scorecard” to "balance" and "scorecard". “balance” means impartial, while the “scorecard” is a value card that will be used to plot the value that will be realized in the future. the balanced scorecard is an intention to measure performance in an executive balanced of various dimensions, namely financial and non-financial, both short term and long term. in the process, the balanced scorecard is not just a tactical or operational measurement system, but as a strategic management system for managing long-term strategy and yield management process as follows: (1) clarify and translate vision and strategy; (2) communicating and linking strategic objectives and measures; (3) plan, set goals, and align strategic initiatives; (4) enhance strategic feedback and learning. kaplan and norton (1996) have introduced four different perspectives of a company's activities that can be evaluated by management, as follows: (1) the financial perspective, how do we satisfy shareholders? (2) customer perspective, how do we satisfy the customer? (3) internal business process perspective, whether the processes are favored to reach the company's success? (4) learning and growth perspective, how we will sustain the ability to change and improvement?these four perspectives of balanced scorecard can be seen in figure 1. malina and selto (2001) have found some companies that introduced the balanced scorecard to advance strategies. scorecard has greatly influenced the views and actions of the company, both beneficial and detrimental. when the elements of the balanced scorecard are well designed and effectively communicated, it appears to motivate and influence the lower level managers to adjust their actions with strategy. further, managers believe that these changes resulted in an increase in the performance of sub-units. however, there is also consistent evidence that the design flaws and deficiencies in the balanced scorecard strategic communications have affected the relationship between some of the top and the middle managers. tensions exist because of the design of the balanced scorecard exacerbate a strong distinction between their views on the future opportunities. deficiencies in communication generate distrust and reluctance to change. while certain weaknesses and deficiencies may be unique to the company studied, these findings appear to reflect generally on the issue of bsc design and usability. maximizing strategy…… (wendy endrianto) 23  figure 1 the four perspective of balanced scorecard gumbus (2006) has elucidated that the balance scorecard enables a focus on long-term growth versus a short-term focus on quarterly results. it also expands the traditional short-term financial metrics by including customer, operational efficience, and employee learning and growth measures. the card provides a balance between short and long-term goals and also balances what gets measuredfinancial plus quality and consumer and employee satisfaction dimensions. balanced scorecard excellence in strategic planning system is the ability of the balanced scorecard in producing a strategic plan that has the characteristics, namely comprehensive, coherent, balanced, and measured. comprehensive characteristic in balanced scorecard is broaden perspectives covered in strategic planning, of which previously only limited on the financial perspective, the third extends another perspective, namely customer, process, and learning and growth. expansion perspective of the strategic plan to the non-financial perspective yields benefits: (1) promising financial performance manifold and continuous, as in planning, attention and effort focused on the perspective of nonfinancial personnel; (2) enable the company to enter into a business environment that is complex, because the balanced scorecard produce a plan that covers a broad perspective, so that the resulting plan is able to respond to complex environmental changes. balanced scorecard requires personnel to build their causal link between the various strategic objectives resulting in strategic planning. each strategic objectives are applied in a non-financial pespektif must have a causal relationship with the financial targets, either directly or indirectly. in the end all strategic targets in a variety of non-financial perspectives should be geared in the financial startegik target, because in company is an institution who create wealthy, therefore, all activities must be able to generate additional wealth, either directly or indirectly. coherent strategic targets generated in the system of strategic planning motivating personnel to be responsible in seeking strategic initiatives that are useful for generating financial performance. strategic planning system that produces a coherent strategic objectives will promise continuous multiplication of financial performance, because the personnel are motivated to seek strategic initiatives that have benefits to the realization of 24 journal the winners, vol. 17 no. 1, march 2016: 19-27  strategic objectives in the learning and growth perspective, process, customer, or financial. in the balanced scorecard approach, there is no strategic initiatives that are not useful to achieve certain strategic goals. coherent strategic targets promised doubling of financial performance is needed by the company to enter the competitive business environments, companies are required to become an institution multiplication of wealth and not just institutions creators of wealth. various strategic that generated by the system of strategic planning have to realize strategic objectives by taking into account various core belief and core values set out in the strategy formulation system. the coherence accomplishment of such a promising company vision is based on the basic values of the company. the balance of strategic targets that generated by the system of strategic planning is important for generating sustainable financial performance. there are four strategic objectives that need to be realized by the company are: (1) shareholder value, the value for the owners of capital in the form of financial returns that doubled and sustainable; (2) customer capital, product and service attribute, quality relationships, and the image is able to produce the best value for customers; (3) the process is productive and cost effective; (4) human capital, information capital and organization capital. helpless human resources arethe availability of information systems as an enabler, and organizations that enable human capital work together in synergy. measurable goals synergy that generated by the system of strategic planning promising strategic achievement of various targets. the balance scorecard measures the strategic goals that are difficult to quantify. strategic targets in perspective customer, process and learning, and growth are objectives that are not easily measured, but in the balanced scorecard approach,targeted at the three perspectives nonfinancial can be sized to be managed, so that it can be realized. thus, the degree of measurability of strategic goals in the third becomes a very promising perspective as seen in figure 2. figure 2 the balance of strategic objectives in strategic planning (source: mulyadi, 2007) external environment analysis provides insights to us about the various possibilities that we will achieve the opportunities and threats we face. nonetheless, both recently confirmed it as an financial perspective process perspective  learning and growth perspective  customer perspective  maximizing strategy…… (wendy endrianto) 25  opportunity and a threat if we include an internal analysis as the analysis of the strengths and weaknesses of our own to be associated with opportunities and threats. here we are required to be honest to ourselves that we are not mistaken in seeing the opportunities and threats that have been identified. sometimes, opportunity that we see is not really for us, because there may be certain drawbacks that we have and difficult to repair associated with these opportunities. wheelen and hunger (2008) have mentioned that we need to make sure whether all the resources we have served to increase the competitive advantage of our own. for that, we can do five process stages: (1) identify and classify the resources of the company into two groups, namely the strengths and weaknesses. as we did the analysis of the external environment, internal environment analysis will lead to what are the strengths and weaknesses of our own. once again of course this should be relative to the opportunities which we will take, or the threat which we must overcome. (2) combining the strength of the company on certain capabilities and core competencies. by analyzing the internal strength, we can see the combinations that can be created in our overall capabilities. this combination expects to produce a synergy, which is the total benefit is greater than the capabilities if we run separately. (3) assess the extent of their capabilities and these capabilities can generate competitiveness and profits. (4) choose strategy to exploit the capabilities and competence of the company relative to the opportunities that exist. (5) identify resource gaps and try to correct weaknesses. in addition to the capability and competence, there are other terms that durability and initiability. durability is the extent to which the capabilities and advantages of the company becomes obsolete or an advantage may be superior because of existing technology or a new way that makes excellence is irrelevant. while initiability concerns with how an emulated capabilities and advantages of the other parties. the greater the benefit received by the company on the capabilities and advantages will sooner followed or imitated by competitors. in the midst of upheaval business environment faced by a company, it is not excessive if a company is required to have the capacity to adapt and the ability to overcome difficulties thus becoming an organizational excellence.indeed, the real learning occur when people are constantly enhancing its capacity to create what he/she wanted to create (and usually something better). without sufficient capacity to carry out the changes, we will not reap any fruit from a plan change. with the capacity and readiness of the changes we make, as well as reconstructing the company's business. increased ability to do continuously perform systematically will gradually be able to prolong the survival of a company's business process innovation. a performance management personnel aims to improve the accountability of personnel in the use of various resources in realizing the company's vision through the options. personnel performance management consists of the following five integrated phases: (1) planning the company's performance to be achieved; (2) application of the role and core competency of personnel in realizing the company's performance; (3) designing a reward system based on performance; (4) measurement and evaluation of personnel performance; (5) distribution of awards based on the results of the measurement and assessment of personnel performance. through five stages with integrated, quality management personnel performance improves significantly following: (1) management of personnel performance includes the performance of employees, not just limited to the performance of managers who hold certain positions within the organization. thus the performance management system is able to mobilize and direct all company personnel in winning the customer choice and realize the vision of the company. (2) performance management personnel conducted applying spurred by fulfilling customer needs. in an environment in which the business customer in control, system performance management is driven by the fulfillment of customer needs will promise to improve the company's competitiveness in winning the customer choice. (3) the planned personnel performance through strategic planning system based on the 26 journal the winners, vol. 17 no. 1, march 2016: 19-27  balanced scorecard. as a result, the performance of which is formulated in the form of performance includes strategic and comprehensive perspective. make strategic performance of each person's thinking long and comprehensive performance boosters make personnel focused to the real performance of the company. (4) performance of personnel is defined as personnel success in realizing the company's strategic goals and the company's strategic objectives is the result of the translation of the mission, vision, basic beliefs, basic values, and corporate strategy. thus the planned personnel performance is closely related to the vision and strategy of the company. performance management system which links closely the performance of personnel with the strategy and vision of the company will promise the ability of all personnel to perform continious alignment to changes in the business environment that is entered by the company. figge, schaltegger and wagner (2002) have stated that balance scorecard can be applied to integrating environmental and social aspects into the successful implementation of both conventional corporate strategies and explicit corporate sustainability strategies. it is obvious that in the case of companies that have adopted explicit sustainability strategies environmental and social aspects will play a more prominent role in the sustainability balance scorecard. however, the openness of the approach also includes conventional firms widens the applicability of the balance scorecard from sustainable niche players to the far wider range of mainstream companies and helps them to move towards a more sustainable performance. it is obvious that the balance scorecard makes no statement on what kind of strategy should be chosen. here again, it becomes clear that a sustainability balance scorecard is embedded in the wider context of strategic management. conclusions to achieve better system performance, organizations should conduct performance measurement in order to have an objective and measurable management. organizations need to evaluate the results of any activities carried out by the respective centers of responsibility compared to the benchmarks that have been set. in addition to external analysis company, internal analysis of the company is also very important to do and that is not too far in setting targets or goals and no one in defining a strategy. the first thing to do is to recognize the capability and competency; we need to ascertain whether all the resources we have served to increase the competitive advantage of our own. it is demanded to be true or not mistaken in seeing the opportunities and threats that have been identified. and to synergize between vision, mission, and strategy of the company in terms of improving the company's performance is by communicating the balanced scorecard, from top management down to lower level management so that all elements of the company know their respective roles in order to achieve a common goal. references figge, f., hahn, t., schaltegger, s., & wagner, m. (2002). the sustainability balanced scorecard linking sustainaibility management to business strategy. business strategy and the environment, 11 (5), 269-284. retrieved may 1st, 2015, from http://interscience.wiley.com. gumbus, a., & lussier, r. r. (2006). entrepreneurs use a balanced scorecard to translate strategy into performance measures. journal of small business management, 44(3), 407-425. retrieved may 1st, 2015 from http://onlinelibrary.wiley.com. doi: 10.1111/j.1540627x.2006.00179.x. maximizing strategy…… (wendy endrianto) 27  hrebiniak, l. g. (2005). making strategy work: leading effective execution and change. wharton school publishing. kaplan, robert s., & norton, d. (1996). using the balanced scorecard as a strategic management system. harvard business review, 74 (1), 75–85. malina, m. a., & selto, f. h. (2001).communicating and controlling strategy: an empirical study of the effectiveness of the balanced scorecard. retrieved may 1st, 2015 from http://aaajournals.org mathis, r. l., & jackson, j. h. (2006). human resource management: manajemen sumber daya manusia. translated by dian angelia. jakarta: salemba empat. mulyadi. (2007). sistem terpadu pengelolaan kinerja personel berbasis balanced scorecard. yogyakarta: unit penerbit dan percetakan stim ykpn. rivai, v., & basri, a. f. m. (2005). peformance appraisal: sistem yang tepat untuk menilai kinerja karyawan dan meningkatkan daya saing perusahan. jakarta: pt. raja grafindo persada. susanto, a. b. (2008). visi & misi: langkah awal menuju strategic management. jakarta: the jakarta consulting group. wheelen, t. l., & hunger, j. d. (2008). strategic management and business policy. 11th edition. uk: pearson international edition. microsoft word 06_piksi_netty laura_pengaruh komitmen pemberdayaan pengawasan-a2t.docx the effect of commitment …… (netty laura) 131  the effect of commitment, empowerment, controlling on discipline, and effectiveness of public work employees in indragiri hulu netty laura universitas 17 agustus 1945 jl. sunter permai raya, tj. priok, kota jakarta utara, daerah khusus ibukota jakarta 14350 nettylaura919@yahoo.com abstract the research was conducted in department of public works employee indragiri hulu. the purpose of this research was to know the influence of commitment, empowernment, and controlling towards the discipline with individual test and overall test, and to know the influence of discipline toward the effectiveness of the department of public works employee indragiri hulu. the research method applied descriptive quantitative and the population in this research were 118 employees. by using a purposive random sampling method, it has been obtained 92 respondents. data obtained with questionnaires. this research used two phase multiple regression analysis. the result of research shows that the commitment, empowernment, and contolling have been influence of significant toward the discipline. it indicates from the value of fobs> ftable at the level of α = 5% fobs= 38,261>ftable = 2,48 with probability (p) smaller than 0,05 and determination coefficient value (r2) is 56,6%. it means that 56,6% commitment, empowernment, and controlling toward the employee’s discipline. a partially (individual test) shows that the value of commitment 2,369, empowernment -0,04, controlling 7,811. this result indicates that commitment and controlling have most dominant influence on employee’s discipline, empowerment has no influence on the discipline of employee. discipline has been influence of significant toward the effectiveness (p<0,05) with tobs =3,503> ttable = 1,66298 keywords: comitment, empowernment, controling, discipline, and effectiveness abstrak penelitian ini bertujuan untuk mengetahui pengaruh komitmen, pemberdayaan, dan pengawasan terhadap kedisiplinan baik secara parsial maupun simultan, dan untuk mengetahui pengaruh kedisiplinan terhadap efektivitas kerja pegawai dinas pekerjaan umum kabupaten indragiri hulu. metode penelitian yang digunakan yaitu deskriptif kuantitatif, sedangkan populasi penelitian ini adalah para pegawai berjumlah 118 orang. dengan menggunakan metode purposive random sampling didapatkan sampel berjumlah 92 responden. sedangkan teknik pengumpulan data yang digunakan yaitu kuisioner dan wawancara. untuk menentukan besarnya pengaruh suatu variabel bebas terhadap variabel terikat digunakan model analisis regresi linear berganda dua tahap. hasil penelitian menunjukkan bahwa kemampuan, kedisiplinan, dan pelatihan memberikan pengaruh yang signifikan terhadap kinerja. signifikansi pengaruh komitmen, pemberdayaan, dan pengawasan terhadap kedisiplinan pegawai dapat ditunjukkan dari nilai fhitung > ftabel pada taraf α = 5%. dari hasil penelitian menunjukkan bahwa f hitung = 38,261 > ftabel = 2,47 dengan tingkat probabilitas (p) lebih kecil dari 0,05 dan nilai koefisien determinasi (r2) sebesar 56,6%. artinya sekitar 56,6% komitmen, pemberdayaan, dan pengawasan memberikan pengaruh terhadap kedisiplinan pegawai. uji secara parsial menunjukkan bahwa nilai t pada komitmen sebesar 2,369, pemberdayaan -0,04, pengawasan 7,811. hasil ini menunjukkan bahwa komitmen dan pengawasan mempunyai hubungan dan pengaruh. pengawasan mempunyai hubungan dan pengaruh paling dominan terhadap kedisiplinan pegawai. pemberdayaan tidak mempunyai pengaruh terhadap kedisiplinan pegawai. kedisiplinan mempunyai pengaruh yang signifikan terhadap efektivitas kerja pegawai (p<0,05) dengan nilai thitung = 3,503 > ttabel = 1,66298. kata kunci: komitmen, pemberdayaan, pengawasan, kedisiplinan, efektivitas kerja. 132   journal the winners, vol. 16 no. 2, september 2015: 131-141  introduction good governance is the most prominent issue in the management of public administration today, in line with the implementation of regional autonomy. department of public works as a part of government in indragiri hulu get heavier work. it because the officer is required to actualize public administration, which can support the continuity and integration of task and function of government, community construction, and community development. the problem is the low effectiveness of employees since 2011 to 2013. there were not any employees who achieved the expected effectiveness, 100%. in addition, in 2012, it could be seen that 80,90% became 78,13%. in 2014, it increased again to 92,76%, but it had not achieve the expected effectiveness. this phenomenon seen in the table that (os) < (oa), so in the last 3 years, it did not achieve the effectiveness. this ineffectiveness was caused by employees’ weak discipline in completing the tasks and still finding projects that were not realized, thus resulting in residual of uudp and tender. the increase in quality and effectiveness of employees as the public apparatus can be done through the discipline of employees in many ways. in department of public work, discipline cannot only be measured by the absence because the employees are technical employees who work in outside of the office. it shows that the discipline is still low. there are employees who cannot do the task, cooperate in team, and hold responsibility causing time imprecision in completing tasks. therefore, it does not match with main task and function in each division. moreover, there are employees who do not obey the rules mainly in secretariat where the employees are late and go home before the certain time. in carrying out its task, department of public work in indragiri hulu is required to have human resource who have high commitment in working. so the vision, mission and value of department of public work can be achieved as expected. in fact, there are still employees in department of public work in indragiri hulu who do not have high commitment in doing their task and responsibility. this shows that there is still a lack of the level of fidelity, responsibility, concern for the job and for the organization itself, in spite of its responsibilities are clear. based on the result of interview, the employees’ commitment is too low. this is seen when researcher did pre research that the employees were lazy in doing their tasks. they tended to complete the task if the condition was urgent. this caused the employees to be undisciplined in completing their tasks and affected to the projects. based on the phenomenon that employee empowerment is still uneven in which training activities only in dedicated in group iii that most of the employees have been aged over 40 years. and the number of employees who follow this training amounted to only 1 person. this can result in some employees feel that they don’t get the empowerment, so that they lack a contribution in each program planned. it because of the employees don’t have the abilities and skills that fit with their work field. this definitely affected the employees’effectiveness in time precision to complete their tasks. in addition to empowering employees, leaders of department of public works indragiri hulu should apply the attached surveillance (waskat), which is controlling done directly by the related superior. without controlling, there will be deviations in working. this shows that the controlling in this department is still low. incapacity to direct subordinates and lack of attention for subordinate causing the employees in department of public work to be undisciplined. this can be seen when the superior does not care about the employees who do not work. normally, the employees do not work during working hours and use their time to do other things like going out of office for personal thing. only several employees are busy, while the others are busy chatting and using their break time more than prescribed time. many employees who have not understood the essence of ethical code which is the effect of commitment …… (netty laura) 133  implemented causes the imprecision in completing tasks and functions. the controlling by a superior must be continuous. based on the explanation above and seeing the importance of commitment, empowerment and controlling in increasing employees’ discipline and effectiveness, and from initial phenomenon, the researcher is interested in doing research entitled the effect of commitment, empowerment, controlling on discipline and effectiveness of public works employees in indragiri hulu district. the problem formulation of this research are; (1) does the aspect of commitment, empowerment, and controlling altogether have significant effect on discipline?; (2) does the aspect of employee’s commitment have significant effect on discipline?; (3) does the aspect of empowerment have significant effect on discipline?; (4) does the aspect of controlling have significant effect on discipline?; (5) does the aspect of discipline have significant effect on work effectiveness? based on the problem formulation above, the goals of research are: (1) to analyze the effect of commitment, empowerment, and controlling altogether on discipline; (2) to analyze the effect of employee’s commitment on discipline; (3) to analyze the effect of empowerment on discipline; (4) to analyze the effect of controlling on discipline; (5) to analyze the effect of discipline on work effectiveness. according to problem formulated in this research, the uses of this research are: (1) theoretical use, as the contribution in form of scientific paper to support the development of knowledge especially in management of human resources related with commitment, empowerment, controlling and discipline; (2) for the leader of department of public work in indragiri hulu, as the alternative for solving the problem in increasing discipline; (3) for further research, as the reference for future research. literature review aspect of employees’ work effectiveness in human resources management according to kusdi (2009), “work effectiveness is how far an organization can achieve its target (short term) and goal (long term) which have been determined. the determination of those targets and goals reflect the strategic constituent, subjective interest of evaluator, and level of organizational development”. indicator of work effectiveness according to hasibuan (2003), “effectiveness is a condition where the employment success is perfect according to determined plan”. therefore, to guarantee successfulness in increasing employees’ work effectiveness in an organization, it needs the effect of organizational structure. the effect of organizational structure in employees’ work effectiveness can evoke; (1) quantity of work, is the volume of work produced under the normal condition. this can be seen from the tasks and conditions during working. each company always makes effort to increase employees’ effectiveness. therefore, a company always wants its employees to have high work morale; (2) quality of work, is a behaviour shown by employees in form of neatness, precision, and relevance by not neglecting the work volume in working; (3) time management, the employees must use their time efficiently, especially by coming to the office punctually and trying to complete their task well. 134   journal the winners, vol. 16 no. 2, september 2015: 131-141  aspect of discipline in human resources management discipline is adjusting a rule system with action, norm and expectation of behavior, imposed by mandatory legislation, one of the measures that help employees keep to the expected standard, and the way to help employees to improve. discipline also means the way companies can deal fairly with those who do not keep to the standards (emmet, 2008). bedjo siswanto (2005) said there are 5 indicators of discipline in working; (1) frequency of attendance is one measure to determine the level of employee discipline. if the frequency of attendance is high and vice versa, it means that employee has high discipline; (2) level of alertness, employees who are careful and precise in doing their task have high level of alertness on themselves and their task; (3) obedience of work standard, employees must obey all standards according to the rules and guidance in doing their work, so accidents do not happen and can be avoided. obedience at work regulations, intended for the convenience and smoothness in the work. work ethic is needed by employees in doing their tasks, so there can be harmony situation and mutual respect between employees. aspect of commitment in human resources management commitment is ability and willingness to align personal behavior with needs, priorities, and organizational goals. this includes the ways to develop goal or fulfill organizational need which prioritize organizational mission than personal interest. (soekidjan, 2009). quest (as cited in soekidjan, 2009) stated that concerning the organization's commitment has results: (1) high commitment of organizational members has positive correlation with high motivation and the increase in performance; (2) high commitment has positive correlation with independence and self-control; (3) high commitment has positive correlation with loyalty on organization”. high commitment correlated with no involvement of members of the collective activity that reduces the quality and quantity their contribution. aspect of empowerment in human resources management atmosoeprapto (2002) explains that empowerment of human resources through training must lead to the realization of humans who can actualize themselves, as seen in figure 1. figure 1 empowerment model (source: suwatno, junipriansa, & donni (2011)) controlling aspect in human resources management controlling is process to guarantee that organizational and management goals are achieved. controlling is an element of managerial tasks that includes measurement and corrective action the performance of the one who supervised to ensure that the objectives and instructions issued implemented efficiently and running smoothly (handoko, 2003). desire trust confident communication accountability credibility the effect of commitment …… (netty laura) 135  in conducting research, the 10 preview research were analyzed and the result can be seen in table 1. table 1 previous research no researcher title variable result 1 zubir syahputra, amri, saiful bahri (2012) pengaruh pengawasan, disiplin kerja dan kompensasi terhadap efektivitas kerja pegawai dinas pengelolaan keuangan dan kekayaan aceh provinsi aceh controlling, discipline, compensation, effectiveness from the result, it obtained that controlling, discipline, and compensation can affect effectiveness about 73,8 % and the rest 26,2 % was affected by other variables. controlling, discipline, and compensation had strong relation with employees’ effectiveness in department of finance and wealth of aceh about 85,9%. 2 haryono (2004) pengaruh pengawasan, koordinasi, disiplin kerja dan kompensasi terhadap efektivitas kerja karyawan dinas pendapatan dan investasi daerah kabupaten purbalingga. jurnal ekonomi bisnis.vol 3. no 6 controlling, coordination discipline, compensation, effectiveness controlling and discipline affected effectiveness significantly. the most dominant variable that affected effectiveness was discipline about 89,9%. 3 andri joko purnomo (2006) analisis efektivitas organisasi dinas perikanan dan kelautan kabupaten batang employees’ motivation, leadership, discipline, effectiveness correlation coefficient of independent variable (discipline) and dependent variable (organizational effectiveness) was 0,531**. then, it could be concluded that there was relation/correlation between independent variable (discipline) and dependent variable with significance level about 62,5%. 4 muslim alibar (2008) aspek-aspek yang mempengaruhi disiplin there are 8 variables that affect discipline like goal and ability, exemplary leader, remuneration, bound controlling, punishment, firmness, human relation there were 8 variables that affect discipline like goal and ability, exemplary leader, remuneration, bound controlling, punishment, firmness, human relation. simultaneously, these variables affected discipline significantly (52,1%). partially, controlling was the most dominant variable (66,9%). 5 agus hendrayady (2011) pemberdayaan aparatur pemerintah (telaah teoritis terhadap kinerja aparatur daerah) empowerment, leader, performance and responsibility empowerment of apparatus was not only a must, but was also important. this empowerment of apparatus would manifest if there were supports from leader and organization. 6 makmur (2003) “pemberdayaan aparatur pemerintah dalam masyarakat”, dalam jurnal ilmiah good governance vol. 2 no. 1, maret tahun 2003, jakarta, stia-lan empowerment, performance the main benefit of empowerment was the increase in performance and result because the society members and apparatus had responsibility. therefore, with empowerment, employees who felt empowered could increase their behavior, achievement and discipline. 7 winarty, army (2003) “pemberdayaan sumber daya aparatur dalam rangka peningkatan kinerja organisasi publik, dalam jurnal ilmiah good governance vol. 2 no. 1 empowerment, performance steps that were needed in empowerment of apparatus were: support from leader, delegation, guidance, ability of information system, organizational support, organizational performance, learning and growth need for apparatus, employees’ satisfaction, motivation. 136   journal the winners, vol. 16 no. 2, september 2015: 131-141  table 1 previous research (continued) no researcher title variable result 8 sintya augustiant , syamsuni arman , isdairi (2013) sanksi administrasi terhadap pelanggaran disiplin pegawai negeri sipil berdasarkan peraturan pemerintah nomor 53 tahun 2010 tentang disiplin pegawai negeri sipil (suatu penelitian di badan kepegawaian daerah kota pontianak) sanction, administration, discipline, civil servant the result of research found that administrative sanction handled by civil service agency of pontianak was not optimal. the causative factor was because the superior or official was not firm to give punishment. to solve the problem found, it is advised the official should have disposition like character who hold firm commitment, honesty and democracy, civil service agency must be intense in communicating with official who had authority to give punishment, civil service agency must increase the performance and resources of apparatus in baperdispeg (badan pertimbangan disiplin kepegawaian) and official who had authority to give punishment. 9 umy yoesana (2013) hubungan antara motivasi kerja dengan disiplin kerja pegawai di kantor kecamatan muara jawa kabupaten kutai kartanegara motivation, discipline, employee, obedience, rule first, high motivation in working was very needed in an organization or instance to achieve the organizational or institutional goals. second, employees in muara jawa could maintain their discipline or increase it. 10 santoso (2002) pengaruh kompensasi, pengawasan dan disiplin kerja terhadap efektivitas kerja kerja pegawai dinas kehutanan. jurnal ekonomi bisnis . vol 6. no 2 compensation, controlling, discipline, effectiveness variable of controlling, discipline, and compensation had tight relation with the effectiveness in the department of forestry management. the result also proved that good controlling, discipline, and compensation had significant effect on employees simultaneously or partially. method population and sample in this research, the author will ask all employees in the department of public work in rengat that are about 118 people. the sample measurement in this research can be determined by using slovin’s formula in umar (2000), which is: 21 ne n n + = (1) with 118 people and tolerance about 5%, the amount of sample taken is: 21 ne n n + = = . = , = 91,11= 92 the effect of commitment …… (netty laura) 137  sample obtained by using slovin’s formula is 91,11 which is rounded to 92 people, as seen in table 2. the technique to collect the sample is purposive random sampling with the formula: ni= n (2) table 2 the sample proportion in department of public work no division population (person) sample proportion (person) 1 secretary and technical unit 45 ni = 45 x 92 = 35 118 2 spatial planning, development engineering and construction services 15 ni = 15 x 92 = 12 118 3 water resources 14 ni = 14 x 92 = 11 118 4 regional offices 23 ni = 23 x 92 = 18 118 5 general of human settlements 21 ni = 21 x 92 = 16 118 total 118 92 (source: processed primary data, 2014) data that is needed in this research consists of: (1) primary data, obtained from interview and questionnaire; (2) secondary data, obtained from the source indirectly, through documents or notes. research model of this article are: figure 2 research model 1 h4 h2 h3 h1 y1 discipline x1 commitment x2 empowerment x3 controlling 138   journal the winners, vol. 16 no. 2, september 2015: 131-141  figure 3 research model 2 this research applied multiple linear regression analysis to measure the effect between more than one predictor variable (free variable) and bound variable. in this research, multiple linear regression analysis is used in two stages which are to see the effect of commitment, empowerment and controlling on discipline, and the effect of discipline on effectiveness. • to see the effect of commitment, empowerment, and controlling on discipline y1 = a + b1x1 + b2x2 + b3x3 + e (3) • to see the effect of discipline on effectiveness y2 = a + b1y1 + e (4) the data analysis is done by using computer with spss 17 (statistical product and service solution version 17) program. results and discussion the result of regression equitation is y= 9,020+0,190x1-0,04x2+0,638x3+e (5) the explanations of that regression equitation are: • β0value = 9,020, this shows if free variable (xi) is constant or zero, the discipline value is 9,020. • β1 value = 0,190, this shows if commitment variable (x1) is up 1, discipline variable will increase about 1,190 with the assumption that x2 and x3 variable is constant. • β2value = -0,04, this shows if empowerment variable (x2) is up 1, discipline variable will decrease about 0,04 with the assumption that x1 and x3 variable is constant. • β3value = 0,638 this shows if controlling variable (x3) is up 1, discipline variable will increase about 0,563 with the assumption that x1 and x2 variable is constant. from those three free variables, the variable that affects discipline more is controlling. the result of regression analysis with y1 and y2 enter method the effect of discipline variable on effectiveness has bigger t count 3,503 than t table which is 1.663 or sign value = 0,001<α = 5% (0,000<0,05), this states that h0 is rejected. it can be concluded that there is significant effect of discipline on effectiveness in the department of public work in indragiri hulu. adjusted r square shows value about 0.110 (11,0%), which means effectiveness is affected by discipline about 11,0%. based on the coefficient table, the equation: y2 = 24,746 + 0,256y1 the constant is 24,746, which means if discipline is zero, the effectiveness is 24,746. the regression coefficient is 0,256 or 25,6% on discipline, which causes the increase in effectiveness to be 25,6%. while, the rest 74,4 of effectiveness is affected by other variables than discipline. h5 y1 discipline y2 work effectiveness the effect of commitment …… (netty laura) 139  conclusion the result shows the free variables such as commitment, empowerment, and controlling give significant effect by using f test, which f count is bigger than f table and significance value on employees’ discipline in department of public work in indragiri hulu. the aspect that gives the biggest effect is controlling. the commitment affects discipline significantly by using t test, which t count is bigger than t table or significance level. this indicates that commitment is categorized as high, although there are commitment elements which need to be increased especially in employees’ lack of recognition about organization, organizational development, and organizational values. they can know the organizational values implemented is in accordance with related vision and mission. the empowerment do not have significant effect on discipline. this can be seen from t count is bigger than t table, negative coefficient value, and even significance value which exceeds significance requirement. this condition shows if empowerment like employees’ contribution, goal, suitable method on work needs, skill and ability, it will not push the increase in employees’ discipline which benefits individual and organization. controlling affects employees’ discipline significantly. this can be seen from the significance value and t test that t count is bigger than t table. controlling with orientation like checking working result, controlling employees’ presence, correcting mistakes, guiding and fostering controlling aspect is valued high. however, it needs the increase in bound controlling which is done by superior on employees’ presence. discipline affects effectiveness significantly. therefore, discipline can increase employees’ effectiveness. although employees’ discipline is already good, in doing their job they always make mistakes and are not punctual. suggestion there are several suggestions that can be done and be beneficial for development of discipline in the department of public work in indragiri hulu based on the conclusion above. there are: (1) to increase employees’ commitment, it can be done through training and guidance about their main tasks and institutional goals periodically. this is to make the employees more understand about what they must do, and those will be always able and loyal with the quantity and quality of result in accordance with their tasks and institutional goals. therefore, it can increase discipline in the department of public work in indragiri hulu. (2) to increase empowerment, superior should give the employees more freedom in settling the problem and give them flexibility to do their tasks. for the future, it should consider which employees should join the training in accordance with their skill. (3) increase the discipline through the controlling employees, so they will obey the rules and finish their tasks punctually, and give punishment if an employee breaks the rules. (4) to increase discipline, superior should give sanction and warning to employees who break the rules, such as always chatting in office hours and not completing their work on time. (5) to increase employees’ effectiveness, it should nurture and maintain employees’ obedience on rules, so the organizational activities can run in order and smoothly according to the plan. (6) as the further implication material. for further research, it should add or include other construct variables like exogenous construct which affects discipline and effectiveness which have not been tested in this research like motivation and leadership style, so the coefficient of determination can be varied significantly. 140   journal the winners, vol. 16 no. 2, september 2015: 131-141  references alibar, m. (2008). faktor-faktor yang mempengaruhi disiplin kerja pagawai pada biro kepegawaian sekretariat jenderal departemen hukum dan ham ri. program pascasarjana universitas indonesia. atmosoeprapto, k. (2002). menuju sdm berdaya – dengan kepemimpinan efektif dan manajemen efisien. jakarta: pt. elex media komputindo. augustianti, s., arman, s., & isdairi. 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(2012). pengaruh pengawasan, disiplin kerja dan kompensasi terhadap efektivitas kerja pegawai dinas pengelolaan keuangan dan kekayaan aceh provinsi aceh dalam tesis. universitas syiah kuala. the effect of commitment …… (netty laura) 141  umar, h. (2005). riset sumber daya manusia dalam organisasi. jakarta: pt. gramedia pustaka utama. winarty, a. (2003). pemberdayaan sumber daya aparatur dalam rangka peningkatan kinerja organisasi publik. jurnal ilmiah good governance, 2 (1). jakarta: stia-lan. yoesana, u. (2013). jurnal hubungan antara motivasi kerja dengan disiplin kerja pegawai di kantor kecamatan muara jawa kabupaten kutai kartanegara. kertanegara. *corresponding author p-issn: 1412-1212 e-issn: 2541-2388 1 the winners, 21(1), march 2020, 1-6 doi: 10.21512/tw.v21i1.5805 integrated reporting and investment: how are they related? bernadeta susilo martanti1*; dessy astuti hermanto2; elin noviyanti3; windy rizkika andriany4 1,2,3,4accounting department, binus graduate program master of accounting, bina nusantara university jl. kebon jeruk raya no. 27, kebon jeruk, jakarta 11530, indonesia 1bernadeta.martanti@binus.ac.id; 2dessy.hermanto@binus.ac.id; 3elin.noviyanti@binus.ac.id; 4windy.andriany@binus.ac.id received: 02nd august 2019/ revised: 14th october 2019/ accepted: 18th october 2019 how to cite: martanti, b. s., hermanto, d. a., noviyanti, e., & andriany, w. r. (2020). integrated reporting and investment: how are they related?. the winners, 21(1), 1-6. https://doi.org/10.21512/tw.v21i1.5805 abstract the research aimed to explore how integrated reporting potentially impact the investor decision within mandatory and voluntary regulation. the method used was exploration of arguments from several researchers, either from theoretical and empirical basis, or literature review. the method of this qualitative research was dividing the literature into categories which in this research would be mandatory and voluntary regulations. the sub categories were divided by two countries which were africa and the united states as research objects. the result and discussion were integrated reporting increases the value relevance of information produced by the company and underline the way companies create a value over the short until long term by informing business model, corporate strategy, and forecasting view. the result shows that integrated reporting will be more useful if the government mandates the regulation like in africa. it is considered that when integrated reporting potentially impacts the investors’ decision assured by professional services, these disclosures will be more accurate and reliable. a contribution for the government to create a clear regulation of the integrated report and provide an assurance service to assure the accuracy of information in the integrated report will be our expectation. keywords: integrated reporting, integrated investor, mandatory regulation, voluntary regulation i. introduction the world’s economy is continually changing due to globalization. companies are facing global competition, technology innovations, and increased regulation in response to financial and governance crises. the accounting profession has challenged the traditional financial business reporting model, arguing that it does not adequately satisfy the information needs of stakeholders for assessing a company’s past and future performance (flower, 2015). stakeholders are depending on the provision of high-quality information. the value relevant information from companies to assure the effective and efficient allocation of resources to drive the motivation for investment activities and to facilitate transparent, ethical, and sustainable business practices. currently, companies must report to a broader audience like stakeholder than shareholders to disseminate several information categories. these expectations are more than accounts, financials, and a business indicator. it is expected that this research finds why, where, and how companies create and add value, and how they deal with responsibility and sustainability. meanwhile, the basic reason for an organization’s existence to create wealth has been questioned by society. this occurs due to the absence of creating value or justice for people, society, and environment (gray, 2006). in the first instance, there are new issues in accounting related to decision-making a company. the need of financial statement to provide information is not only for inventors and creditors, but it is also expected to provide information for society and environment. investors and creditors need a financial statement in their capacity as providers of corporate financial resources, while society needs it to understand the effect of the company’s existence on the social and natural environment (non-financial information). by having stand-alone sustainability reports as one of the most main ways to inform about their organizations, they have increasingly utilized mechanisms beyond financial statements to satisfy increased stakeholder demands (zhou, simnett, & green, 2017; cohen et al., 2012). meanwhile the practice of issuing stand-alone sustainability reports is a major activity business 2 the winners, vol. 21 no. 1 march 2020, 1-6 practice (kpmg, 2013), one of the major criticisms of this practice is a little volume of information provided, often without identification of business strategic, financial implications or relation to information that contained in the annual report. such condition causes that issues make the information a little useless for users especially investors (eccles & krzus, 2010; eccles & serafeim, 2015). van zyl (2016) and visser (2010) stated that these ‘sustainability’ reports have had little impact on the mainstream financial accounting and corporate reporting methodologies since it achieves little success in making business more accountable and responsible as evidenced by the fact that “at macro level, almost every indicator of our social, environmental, and ethical health is in decline”. the development of sustainability reporting can also be interpreted as the evolution of shareholdercentric models of corporate governance (jensen & meckling, 1976) to stakeholder importance through the holistic reports in conformance with societal expectations (solomon, 2010). in this statement, it has been revealed that investors and stakeholders become important concerns as being prioritized, especially to get a lot of information that must be obtained from the company. when investors and stakeholders feel fulfilled with information, it affects their loyalty to the company. therefore, it maintains long-term relationships with investors and stakeholders. the stakeholder theory recognizes that there are various agents who are interested in the company’s attitudes towards sustainability, besides shareholders and creditors. along with it, integrated reporting has recently been promoted as a solution to the shortcomings of financial reporting (the international integrated reporting council, 2013). the integrated reporting journey began in 1994 in southern africa with released of king code of corporate governance principle, commonly known as king i. taken from mervyn king’s name who was the justice of the supreme court of south africa at that time, king i was especially famed in the stakeholder perspective who wanted to know about the corporation’s ambition (dumay et al., 2016). the king i report was developed in south africa as the country was starting to arise the real democracy and the new system of corporate governance where private sector saw it too (stewart, 2010, stated in dumay et al., 2016). subsequently, the king ii report (the continue of king i) introduced “integrated sustainability reporting” as the concept of new and complex areas of non-financial reporting (dumay et al., 2016). the current version of integrated reporting in south africa appears from the king report on governance for south africa — 2009 (king iii) (institute of directors in southern africa, 2009), which advocates integrated reporting as a holistic report and integrated representation of financial and sustainability information which describes the company’s performance. accordingly, king iii contains a set of principles for integrated reporting. on 1 march 2010, the johannesburg stock exchange (jse) mandated integrated reporting on a voluntary apply or explain basis (institute of directors in southern africa, 2009). when king iii advocates to applying the voluntary principle for integrated reporting, accordingly there are always ways to getting around the rules. it is considerably harder to comply with the principle (dumay et al., 2016). currently, south africa is the only jurisdiction that mandates integrated reporting on an apply or explain basis. some of leading companies have begun to integrate all their information statements into integrated reporting for the sustainable strategy (eccles & krzus, 2010). the statement of company’s strategy, corporate governance, performance and prospects, commercial, the social and environmental context in one a composite, organized, and cohesive form is called integrated reporting. thus, a clear and concise statement is arising about how the organization operates and how it creates and maintains value (international integrated reporting committee, 2011). the firms that comply with reporting an integrated report have more social responsibility investors’ base, which will be impacted to having more dedicated investors rather than transient investors (eccles & serafeim, 2015). investor activism on sustainability issues and the presence of a sustainability crisis makes firms to practice more about integrated reporting. changing the integrated reporting is also related with changes of the investors’ base. theoretically, an integrated reporting was intended for investor social responsibility. but, how are they related? an integrated report provides the value creation over the short, medium and long term (druckman, 2014). with these value creations, investors can evaluate the company’s performance, prospect and strategy from information disclosed in the integrated report. the value creation process of companies starts from how to process their capital into the business process to produce outcomes that can be reused by the company as capital resources. information of the value creation contained in integrated reporting are more relevant since it does not only focus on historical information such as financial information (cohen et al., 2012), but also providing information how to allocate their capital to be value creation for their company. hence it enables the investors to evaluate the company’s performance, prospects, and strategy. moreover, with this information which is disclosed in integrated reporting, the investors will have a lot of source to be analytical considerations besides financial report. from these statements, it can be seen that there is a strong relation between an integrated reporting and the investor. according to widiyastuti and chariri (2012), integrated reporting is built on the concept of capital stewardship which is defined as the maintenance and expansion of various forms of capital contributing to the creation of longterm value of the company. integrated reporting provides more relevant information for stakeholders because integrated report contains financial and non-financial information of 3integrated reporting and investment ..... (bernadeta susilo martanti, et al.) the company. zhou, simnett and green (2017) stated that integrated reporting has changed the landscape of corporate reporting. integrated reporting demonstrates the linkages between an organization’s strategy, governance and financial performance and the social, environmental and economic context within which it operates. by reinforcing these connections, integrated reporting can help business to take more sustainable decisions and enable investors and the other stakeholders to understand how an organization is performing remarkably. furthermore, garcíasánchez, rodríguez-ariza, and frías-aceituno (2013) have pointed out that companies, especially listed ones, have long been required to publish annual financial statements to report on the economic and financial situation of their assets, and have been obligated to publish a report on corporate governance so that users can determine their level of “corporate governance”. however, current mandated corporate reporting is financial reporting which does not give a complete picture of a firm and has a short term orientation. such condition occurs since financial reporting only provides financial information created by historical transactions in a few years’ past. given the importance of an integrated reporting with more relevant information, some companies have presented their integrated reporting, however, it is still voluntary because there is no specific regulation that governs it. this is also confirmed by cohen et al. (2012), who stated that regulation of financial disclosure is heavier than non-financial disclosures. in addition, the firms have significant latitude in choosing whether to disclose, and if to disclose they have option how to do that. it differs with financial disclosure which clearly regulates in reporting standards (i.e. ifrs). due to this unclear regulation, the non-financial disclosure in an integrated report might not be reliable and transparent. thus, the regulation of integrated reporting must be determined as mandatory to reduce the lack of information provided in an integrated reporting by the firms. accordingly, the research question has been formulated: how does the integrated reporting potentially impact the investor decision within mandatory and voluntary regulation? at the end, this research is expected to give a contribution for the government to consider mandating the regulation of the integrated report and provide an assurance service to assure the accuracy of information presented in the integrated report. moreover, it is necessary to remind investors to consider non-financial information because non-financial disclosures are not less important than financial disclosures. indeed, considering financial disclosures only contains of historical information. ii. methods the research aims at exploring arguments from several researchers who believe in different theory, either from theoretical and empirical basis, or literature review. the qualitative method applied in this research is conducted by dividing the literature review into some themes or categories. the categories are in a form of integrated report regulations, in which it could be mandatory or voluntary. the sub themes will be divided by two countries, which is africa and the united states. it is a fact that a systematic organization technique is mandatory in scientific research to simplify the measurement that will be taken. this research puts some arguments from several researchers. accordingly, this research also has literature review as its method for the data collection, by dividing the literature into themes or categories as the approach with three steps. the first step is identifying all existing articles. second step is to categorize articles based on themes. the last step of the approach is selecting articles that is be adopted and used to support the proposed arguments, as well as presenting articles with contrast opinion as a comparison material. certainly, from many literatures of research, there are a lot of arguments of the results about the advantage and disadvantage after establishing integrated reporting. this research focuses on a qualitative approach to answer the following research question: are the benefits of implementing integrated reporting have the correlation with investor’s decision in investing and the company’s sustainability on longterm period? us as voluntary country and africa as mandatory country that are implementing integrated reporting specifically will present information about the difference results through our result and discussion explanation. literature was collected from several research related to the implementation of integrated reporting, which is categorized into mandatory and voluntary regulation. most of the research was done in south africa and us, thus the sub-themes are divided into these countries. in africa, few researchers observed the implementation of integrated reporting by reviewing listed companies within 2016-2017. in the us, the argument is collected based on research done by examining 50 publicly traded firms across five industries. iii. results and discussions in accordance with the institutional theory, organizations will change their structures or operations to meet stakeholder expectations around important issues (vaz, fernandez-feijoo, & ruiz, 2016). the institutional theory focuses on the external issue such as politic, social, and economic systems on company behavior and legitimacy. the institutional context may affect the expansion of accounting regulations as well as the characteristics of integrated reporting. vaz, fernandez-feijoo, & ruiz (2016) identify three types of institutionalization mechanisms: (1) coercive, which focuses on the rule setting, monitoring, giving reward, and punishment; (2) normative, which is based 4 the winners, vol. 21 no. 1 march 2020, 1-6 on non-imposed values and norms; and (3) mimetic, where companies imitate fellow companies that they perceive to be successful. based on these three types of institutional mechanisms, the effects of pressure from top level structures, such as countries, increase the company’s awareness in presenting integrated report. dissanayake & ekanayake (2018) stated that decision usefulness theory is built on the view that the primary purpose of accounting, including corporate environmental reporting, is to provide information to allow informed judgments and decisions by users of information (dissanayake & ekanayake, 2018). based on the decision usefulness theory, all users of corporate reporting are likely to demand the same qualitative characteristics of information provided through corporate environmental reporting similar to financial reporting, to make it easier when evaluating the usefulness of decisions from the information provided. this implies that although corporate environmental reporting may not purely be directed towards for the user’s economic decision making, the information contained within it should have decisionuseful characteristics for those users to ensure the credibility of the reported information (dissanayake & ekanayake, 2018). furthermore, hoque (2017) states that integrated reporting is one of the new mechanisms to face corporate governance. since it is related to corporate governance, integrated reporting has transparency that is indispensable for making investment decisions made by investors. especially, after so many financial crisis and scandals, transparency about the board of companies and their activities becomes the main concern from shareholders’ point of view and fund providers, even respective authorities also (oecd, 2009). thus, the responsibility of the top level management (board) is to disclose information related to financial and non-financial performance in mandatory or voluntary (hoque, 2017). the fact is, the higher level of disclosure, the higher transparency of financial and non-financial report. thus, firms may gain investor’s trust on those charged with governance. additionally, this transparency and disclosure increase corporate reputation in others view as well. integrated reporting is effective in the process of communication, which can help investors and other stakeholders to understand more about the company, not only its past and current performance, but also its future resilience (wadee, 2011 in hoque, 2017). because the regulation of financial disclosure is heavier than non-financial disclosures, there might be a lack of non-financial information provided by company in the us (cohen et al., 2012). some of literatures even suggest that the cost of equity capital can be affected by reducing the information asymmetry between the company and its investors (zhou, simnett & green, 2017). it was due to unclear regulation in the us and the firms have no obligation to disclose their non-financial information clearly and transparency. zhou, simnett and green (2017) found that the level of alignment is negatively associated with an analyst earning forecast error. in addition, information reported in an integrated report is helpful for earning forecast analysis. it was due to the integrated report contains information on corporate strategy, the business model and future-oriented information that help investor in decision making as well. the results from their research suggest that the integrated report does matter to the capital market in that it helps to improve the non-financial information disclose. it will be a consideration by social responsibility investor in decision making, evidenced by improved analyst forecast accuracy. to answer the research question, several arguments are investigated, especially the ones related to integrated reporting and investor decisions in mandatory or voluntary regulations that had been submitted by previous researchers. corporate reporting not only focuses on the financial disclosure but also on non-financial disclosure. integrated reporting is present as an evolutionary form of corporate reporting that combines financial and nonfinancial information which mutually integrated. furthermore, integrated reporting also provides the company value creation process. this was also stated by zhou, simnett and green (2017) that integrated reporting could underline the way companies create a value over the short until long term by providing information relating to business model, corporate strategy, and forecasting view. therefore stakeholders, especially social responsibility investors, can predict the company’s earnings forecast by considering this non-financial information provided in the integrated report. the regulation of publishing integrated reporting was in line with institutional theory. according to institutional theory, organizations will change their structures or operations to meet external expectations surrounding important issues (vaz et al., 2016). in other words, companies will report the integrated reporting if there are regulations that require it. a country has to follow one of the mechanisms in institutional theory, which is coercively focus on the rule setting, monitoring, reward, and punishment. integrated reporting will be increasing the relevancy of information reported or produces by the company and assisting stakeholder in decision making (zhou, simnett & green, 2017). research was done by observing 443 companies listed on the jse in south africa, it is concluded that information provided in integrated reporting potentially impacted to the investor to make a decision in the country which mandating the regulation of integrated reporting (i.e. africa). supported by vaz et al. (2016), africa is one example of a country which shows that regulations will affect the issuing of integrated reporting, which is good things to be applied by other countries. cohen et al. (2012) has found that nonfinancial disclosures are heavily regulated than financial disclosure, which affect the bias non5integrated reporting and investment ..... (bernadeta susilo martanti, et al.) financial information in an integrated reporting because of no clear regulation. the research was done in the us company as the limited sample. although, the disclosure of integrated reporting revealed some advantages related with the decisionmaking process, it should be noted that the disclosure contains information relevant to users is not always performed voluntarily, because company need to spend a lot of costs to these practice (prado-lorenzo & garcia-sanchez, 2010). as widely known, us does not mandate the regulation of integrated reporting. in other words, the companies have no obligation to disclose their non-financial information or they have an option to do so. several big companies presents integrated reporting on a voluntary basis, in which there are no specific or clearly regulations governing them as in financial statements. that means, the company discloses integrated reporting in accordance with the objectives to be achieved by the company. it will affect the level of transparency and value relevance of integrated reporting to be questioned. iv. conclusions since non-financial information heavily regulated than financial information in many countries, integrated report will be more useful if the government has a clear regulation and give punishment to firms who violate the rules, following a coercive mechanism in institutional theory. supported by zhou, simnett and green (2017), integrated reporting does matter in the capital market which potentially impacts social responsibility investor’s decision making because of non-financial information provided in the integrated report. in addition, if integrated reporting assured by an independent professional services, these disclosures will be more accurate and reliable then could potentially impact the investor decision as well. the result in a country which does not mandate the integrated reporting is, due to this unclear regulation, the non-financial disclosure in integrated reporting might not be reliable and transparent. they have significant latitude in choosing what kind of information to disclose, when to disclose and how to disclose information in their integrated reporting. the company discloses integrated reporting in accordance with the objectives to be achieved by the company since they have no obligation to report their non-financial disclosure. the research is expected to give some contribution to a few parties. first, for the government, it is suggested that they consider about establishing a clear regulation of the integrated report. second, providing an independent assurance service to assure the accuracy of information and to make it reliable. third, for the investors, to remind them that nonfinancial disclosures are not less important than financial disclosures. however, the limitation from the research is related to the sample of country which has mandatory regulation of integrated reporting. the fact that from all the reviewed countries, only africa applies the mandatory regulation indeed caused an unbalanced comparison between the mandatory and the voluntary. therefore, it is suggested for future research to, do another comparison if there is a new country which implements a mandatory regulation of integrated reporting to give more evidence and source to be relied on. references cohen, j. r., holder-webb, l. l., nath, l., & wood, d. (2012). corporate reporting of nonfinancial leading indicators of economic performance and sustainability. accounting horizons, 26(1), 65–90. https://doi.org/10.2308/acch-50073. dissanayake, d. m. m. b., & ekanayake, e. m. a. s. b. (2018). decision usefulness of corporate environmental reporting and firm performance: evidence from sri lanka. iup journal of accounting research & audit practices, 17(3), 7–23. retrieved from http://search.ebscohost.com/login.aspx?direct =true&db=buh&an=131601017&site=ehost-live. druckman, p. (2014). a corporate reporting evolution: internal auditors can play an important role in the adoption of the integrated reporting framework, says international integrated reporting council ceo paul druckman. internal auditor, 71(1), 15. retrieved from https://go.gale.com/ps/ anonymous?id=gale%7ca371175095&sid=goog lescholar&v=2.1&it=r&linkaccess=fulltext&issn =00205745&p=aone&sw=w dumay, j., bernardi, c., guthrie, j., & demartini, p. (2016). integrated reporting: a structured literature review. accounting forum, 40(3), 166–185. https://doi. org/10.1016/j.accfor.2016.06.001. eccles, r. g., & krzus, m. p. (2010). integrated reporting for a sustainability strategy. financial executive, 26(2), 29–32. https://doi.org/10.1109/ icsmc.2008.4811377. eccles, r. g., & serafeim, g. (2015). corporate and integrated reporting: a functional perspective. chapter 9 in corporate stewardship: achieving sustainable effectiveness, edited by ed lawler, sue mohrman, and james o’toole, greenleaf (pp. 156–172). https://doi.org/10.9774/gleaf.9781783532605_10. flower, j. (2015). the international integrated reporting council: a story of failure. critical perspectives on accounting, 27(c), 1–17. https://doi.org/10.1016/j. cpa.2014.07.002. garcía-sánchez, i. m., rodríguez-ariza, l., & fríasaceituno, j. v. 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(2009). king code of governance for south africa 2009. king report on governance for south africa 2009. retrieved from http://www.ngopulse.org/sites/default/files/ king_code_of_governance_for_sa_2009_updated_ june_2012.pdf international integrated reporting committe. (2011). towards integrated reporting: communicating value in the 21st century. integrated reporting, (september), 17. https://doi.org/10.1177/14696053 03003002002. jensen, m. c., & meckling, w. h. (1976). theory of the firm: managerial behavior, agency costs and ownership structure. journal of financial economics, 3(4), 305–360. kpmg (2012),‘integrated reporting in practice: the south african story’, retrieved from https://www. kpmg.com/global/en/topics/corporate-reporting/ better-reporting/documents/the-south-african-story. pdf, accessed 5 january 2016. oecd. (2009). corporate governance and the financial crisis: key findings and main messages. oecd steering group on corporate governance. retrieved from https://www.oecd.org/corporate/ca/ corporategovernanceprinciples/43056196.pdf. prado-lorenzo, j. m., & garcia-sanchez, i. m. (2010). the role of the board of directors in disseminating relevant information on greenhouse gases. journal of business ethics, 97(3), 391–424. https://doi. org/10.1007/s10551-010-0515-0. solomon, j. (2010). corporate governance and accountability (3rd ed.). west susex, united kingdom: john wiley and sons ltd. the international integrated reporting council (iirc). (2013). the international <ir> framework. integrated reporting <ir> prototype framework, 1–51. retrieved from http://www.theiirc.org/about/ van zyl, a. s. (2016). sustainability and integrated reporting in the south african corporate sector. journal of sustainability management (jsm), 1(1), 19. https:// doi.org/10.19030/jsm.v1i1.8390. vaz, n., fernandez-feijoo, b., & ruiz, s. (2016). integrated reporting: an international overview. business ethics, 25(4), 577–591. https://doi.org/10.1111/ beer.12125. visser, w. (2010). the age of responsibility: csr 2.0 and the new dna of business. journal of business systems, governance and ethics, 5(3). https://doi. org/10.15209/jbsge.v5i3.185. widiyastuti, y., & chariri, a. (2012). evolusi dalam pelaporan keuangan perusahaan: analisis semiotik atas integrated reporting pt united tractors tbk (doctoral dissertation, fakultas ekonomika dan bisnis). zhou, s., simnett, r., & green, w. (2017). does integrated reporting matter to the capital market? abacus, 53(1), 94–132. https://doi.org/10.1111/abac.12104. microsoft word 01_hasliza halim_setting_ok human resource outsourcing: .....( hasliza abdul-halim; norbani che-ha) 1 human resource outsourcing: lesson from multinational enterprises hasliza abdul-halim1; norbani che-ha2 1school of management, universiti sains malaysia 11800 pulau pinang, malaysia 2faculty business and accountancy, university malaya 50603 kuala lumpur, malaysia haslizahalim@usm.my; norbanicheha@um.edu.my abstract this paper examines the consequence of the organization internalization on the practice of human resource (hr) outsourcing among manufacturing organizations. the assumption is that hr outsourcing is perceived as an innovative practice and that multinational enterprise (mnes) will employ this practice more than local organizations. the data was gathered from survey questionnaires of 232 manufacturing organizations. of the sample, 113 organizations engaged with hr outsourcing, and 71 are mnes that partially outsource their hr functions. the findings reveal that hr outsourcing among mnes is used to a greater extent than local organizations. a significant difference is found in the extent of outsourcing payroll, benefits, training and recruitment between mnes and in local organizations. keywords: outsourcing, human resource management, multinational corporations abstrak tulisan ini memeriksa konsekuensi organisasi internasional dalam praktik bagian outsource sumber daya manusia (sdm) dalam organisasi manufaktur. asumsi awal yaitu bahwa sdm outsource dianggap sebagai praktik inovatif and bahwa perusahaan multinasional akan mempekerjakan praktik ini lebih banyak daripada perusahaan lokal. sebagai contoh, 113 organisasi mempekerjakan sdm oursource dan 71 di antaranya adalah perusahaan multinasional. jumlah tersebut mengungkapkan bahwa sdm outsource diantara perusahaan multinasional menunjukan jumlah lebih besar daripada perusahaan lokal. perbedaan signifikan ditemukan dalam perpanjangan gaji outsource, benefit, training, dan rekrutmen antara perusahaan multinasional dan lokal. kata kunci: outsource, sumber daya manusia, perusahaan multinasional 2 journal the winners, vol. 12 no. 1, maret 2011: 1-10 introduction in the international management and human resource management (hrm) literature, foreign mnes as opposed to local organizations are different in terms of management and decision-making. this is because in today’s world of ever increasing competition and emphasis on the bottom, mnes necessarily and continuously examine new ways to generate value and improve profitability, including cost reductions where possible. successful mnes find ways to utilize their corporate capabilities to add value. mnes follow different strategies in promoting convergence of organizational forms and practices. among these strategies, mnes have embraced outsourcing where appropriate. indeed quinn (2000) argued that strategic management of outsourcing is perhaps the most powerful tool in management and outsourcing of innovation is its frontier. consistent with this trend, mne engage in hr outsourcing. to a great extent, mnes are important disseminators of hr practices and innovations in terms of work organization. and, although hr outsourcing is discussed in the management literature, this concept has not been addressed widely under the heading of international management. therefore, this paper attempts to investigate the effect of mnes on the extent of hr outsourcing, drawing upon the findings of an in-depth survey among manufacturing organization in malaysia. the discussion on this paper will proceed with the concept of hr outsourcing and mnes, followed by methodology of the study, results and finally the discussion and conclusion of the study. literature review hr outsourcing outsourcing in general can be defined as the purchase from external vendors of a valuecreating activity that either was previously done or could have been done in-house (gilley & rasheed, 2000). consequently, the outsourcing of hr activities is the practice of turning overall or part of an organization’s hr function to external providers (adler, 2003; pelham, 2002). hr outsourcing has grown in popularity since the early 1990s in western europe and in the us, where up to 90 percent of the organization outsource some hr functions (cook, 1999; cooke et al., 2005). however, in other countries such as greece, the use of hr outsourcing lags well behind this penetration rate (galanaki & papalexandris, 2005). moreover, empirical study on hr outsourcing in developing countries such as malaysia (which inter alia is characterised by the presence of many mne’s) is also non existent (hewitt association, 2006), revealing an unusual lacuna in the literature. many mnes managers realize that the use of outside providers is more efficient and less costly than hiring full time staff to handle the hr functions in house (galanaki & papalexandris, 2007). in fact, demands for increased productivity, profitability, and growth have encouraged organizations to analyse their internal hr processes, resulting in a move towards strategic outsourcing activities (cooke, et al., 2005). moreover, hr outsourcing enables organizations to profit from the rising comparative advantage of specialized service providers who have expertise in the areas concerned (smith et al., 2006; cooke et al., 2005). apart from that, hr outsourcing allows organizations and external vendors to collaborate their consultative and strategic roles in designing and implementing programs which to enhance organizational performance (greer et al., 1999). in short, the main reasons for outsourcing hr appear to be fairly consistent. typical reasons include seeking specialist services and expertise, enhancing the quality of the services, cost reduction and enabling hr specialists to take on a more strategic role. nonetheless, outsourcing can also fail for several reasons such as high costs and unforeseen need of additional resources (lawler & mohrman, 2003); loss of management control (quinn & hilmer, 1994; domberger, 1998); declining innovation (kotabe, 1992); contract ambiguity and technological incompatibilities (laabs, 1998); potential lower service quality (elmuti, 2003) and effect human resource outsourcing: .....( hasliza abdul-halim; norbani che-ha) 3 on employees’ morale (stroh & treehuboff, 2003). similarly, heavy reliance on external service providers may lead to a loss of internal expertise, skills, and strategic competitive advantage (ulrich, 1996; adler, 2003). however, some mnes may turn to outsourcing as they deem that most vendors have made major investments in hrm knowledge, which they put in the service of their customers. in this sense, outsourcing permits benefiting of knowledge and competencies which do not exist in-house, or, which are used for other activities (galanaki & papalexandris, 2007). recent research in this domain show a considerable increase in the use of hr outsourcing, particularly in the areas of hrm consultancy and in the design of hrm tools (cook, 2003; cook, 2006). this practice has increased mainly due to the existing of competent and experienced hr professionals among the external vendors. moreover, if the hr functions are adequately standardized, thus hr managers and external vendors are able to communicate effectively and manage in collaborative common projects. thus, the practice of hr outsourcing could be acknowledged as a demonstration of development of the hrm practice. types of hr functions to be outsourced evidence now suggests that hr outsourcing has increased considerably over the last decade (andersen, 1996; harkins, brown & sullivan, 1995). qualitative and quantitative reports such as the cranet survey and from the bureau of national affair provides further evidence of this growth (see below). a recent survey by smith, et al (2006), indicates that 61 percent of the organisations in russia outsourced at least one hr function. out of that percentage, 68 percent of them outsourced recruitment, 61 percent outsourced human resource information system followed by training (56%) and benefits administration (49%). another survey conducted by the bureau of national affairs in 2004 (in lilly et al., 2005) demonstrates that 67 percent of hr departments outsourced one or more hr functions. the cranet survey (in cooke et al., 2005) provides further evidence to support the growing trends towards hr outsourcing. the survey shows that 97 percent of the organisations use external providers in hr to cover at least one hr function. from various hr functions, training activities are the most common functions to be outsourced (77%). this is followed by recruitment (59%), benefits (30%) and workforce outplacement (29%). organisations outsource a wide range of hr functions. lever (1997) indicates that 75 percent and 65 percent of the organisations outsource benefits administrations and training respectively. payroll is also one of the popular hr functions to be outsourced (62%), followed by recruitment with 50 percent. other outsourced functions comprise of hr information systems (30%) and compensation (17%). none of the respondent outsourced strategic hr functions. the surveys suggest that many organizations outsource various types of hr functions particularly training and recruitment functions. this indicates that the trend towards hr outsourcing is growing tremendously. nevertheless, the offer of hr functions in asia countries including malaysia has only recently developed (hewitt association, 2006). in fact, outsourcing in general is a relatively new phenomenon in malaysia. hr outsourcing and mnes hyper-competition in globalized market place added with the fact that needs among global customers are becoming common induces multinational enterprises (mnes) to adopt standardized strategies and practices in fostering employment across border. in this regard, mnes are considered as the medium of globalization in which they disperse the managerial knowledge and techniques internationally and promoting standardization of management systems (quintanilla & ferner, 2003; martin & beaumont, 1998). however, national differences particularly institutional and culture 4 journal the winners, vol. 12 no. 1, maret 2011: 1-10 background demand mnes to adapt their management practices to the local context (quintanilla & ferner, 2003). hr functions specifically, are considered as the most vulnerable to cultural differences and least likely to be standardized across countries (myloni, harzing, & mirza, 2004). in other words, mnes are bound to follow local institutional arrangement such as wage determination, hours of work, forms of work contract and redundancy procedures as well as in staffing, employee development, payroll or other hr policies (ferner, 1997). however, many mnes do not have ultimate knowledge on the hr functions at the local context, it is reasonable for the organizations to outsource with service providers to handle the functions according to local needs. local organizations on the other hand, which operates in a non-restricted institutional environment regarding outsourcing agreements, lags behind in the use of hr outsourcing, it is reasonable to expect that foreign mnes would engage more in the practice of hr outsourcing than the local organizations. therefore, the research hypothesis is developed as research hypothesis and foreign mnes outsource more their hr functions than the local organizations. methodology sample and procedure this study used a mail survey questionnaire to obtain data. the questionnaires were targeted to the head of human resource departments, or the person responsible for hr in malaysian manufacturing organizations. the mailing list was obtained from the federation of malaysian manufacturers directory (fmm). the survey yielded 232 useable responses from an eligible sample of 990 organizations. this response rate of 23.4% is similar to other surveys in malaysia, which tend to obtain a response of between 15-25 percent (othman, et al., 2001). the targeted respondents were the senior hr managers. while, as discussed below, the use of a single respondent is not ideal, it has very real benefits in terms of costs, and been the method of choice of leading us researchers such as becker & huselid (2006) who state that the wisest use of scarce research resources should be devoted to increasing overall response rates among well-crafted single respondent surveys. while the respondents in this study were well positioned to provide hr data, it remains possible that a general response bias is affecting the results. indeed asking hr managers about their own function involves measuring a partial perception of reality (valverde et al., 2006). to reduce the effects of possible bias, future research might benefit from designs that collect data from multiple respondents within each participating organization. for instance, it would be valuable to incorporate data from managers other than hr managers (e.g. line managers), as their views may well differ (edgar et al., 2008). ideally, if time and research funds permit, research on hrm should also tap into the views of workers, and not rely on managerial views. research has certainly revealed that workforce views on hrm do differ from those of the management (geare, et al., 2009). measurement instruments the data were collected through a more extensive questionnaire on hr outsourcing. to measure the outsourcing level of hr functions, open ended question relating to the percentage of each hr function outsourced was used. the use of hr outsourcing was established through the following questions: do you outsource part of this hr function? please indicate the percentage of this activity being outsourced (ranging from 0 to 100 percent). human resource outsourcing: .....( hasliza abdul-halim; norbani che-ha) 5 the above two questions were posed for each of the following hr functions namely: payroll, hris, benefits, compensations, training, recruitment, appraisal, employee relation and hr strategic functions. the selection of these hr functions was based on the hr functions that are widely recognized, accepted and stated as being outsourced frequently in the human resource management (hrm) literature (delery & doty, 1996; lever, 1997; smith et al., 2006). furthermore, in order to understand the experiences underlying the hr outsourcing functions of malaysian organisations, the questions were adapted from the study of elmuti (2003). these constructs were measured on a six-point semantic differential-likert scale. the measurement scales were modified to suit the background of the respondents particularly in their adoption of the hr outsourcing strategy. finally, the information of the organisations was obtained from questions on organisational background. computer softwarestatistical package for the social sciences (spss) version 14 was used to analyse the practices of hr outsourcing between mnes and local manufacturing organisations in malaysia. discussion profile of the respondents from the survey, the respondents were asked about their involvement with hr outsourcing. thus, the profile of the organisations that engage with the outsourcing of hr functions is discussed and all the items recapitulated in table 1. table 1 profile of the organisations that outsourced hr functions hr outsourced organisations number percentage 1. hr outsourcing decision • yes 113 48.7 • no 119 51.3 2. type of industry • food and beverages 8 7.1 • textiles 10 8.8 • wood products 6 5.3 • chemical products 12 10.6 • rubber and plastic products 11 9.7 • metal products 9 8.0 • machinery and equipment 17 15 • electronics 16 14.2 • radio, tv and communication 16 14.2 • motor vehicles, trailers and semi-trailers 8 7.1 3. years in operation • 20 years above 41 36.3 • 11-20 years 40 35.4 • 10 years and below 32 28.3 4. total employees • 150 to 300 employees 30 26.5 • 301 to 1000 employees 46 40.7 • above 1000 employees 37 32.7 5. years of working experience • below 5 years 69 61.1 • 5 to 10 years 34 30.1 • above 10 years 10 8.8 6 journal the winners, vol. 12 no. 1, maret 2011: 1-10 from 232 respondents, 48.7 percent (113) of the organisations engaged in outsourcing their hr functions. table 1 shows the profile of the 113 organisations that outsourced hr functions. the majority of respondents (15%) are from the machinery and equipment industry. almost 41 percent of the organisations employ 301 to 1000 employees, and 36.3 percent of these organisations have been in business for at least 20 years. interestingly, about 61 percent of respondents have less than five years of experience in hr areas. type of human resource functions outsourced between mnes and local organizations of the 113 responses, 71 (62.8%) related to mnes and 42 (37.2%) were local organizations. the results are presented in table 2. percentages for each answer option were computed as 1) fraction of the whole sample of outsourced organizations and 2) a fraction in each category (type of hr functions outsourced) by ownership. table 2 hr outsourcing survey results organizations (n=113) mnes local (malaysian) organizations 1. does your organization outsource? yes 2. what hr functions does your organization outsource? payroll benefits hris training recruitment 71 (62.8%) 24 (33.8%) 13(18.3%) 6 (8.5%) 49 (69%) 56(78.9%) 42 (37.2%) 6 (14.3%) 2 (4.8%) 4 (9.5%) 25 (59.5%) 38 (90.5%) from table 2, most of the organizations that engaged with hr outsourcing were mnes (62.8%). only 37.2 percent of local organizations partially outsource some of their hr functions. this finding is consistent with the study conducted by galanaki and papalexandris (2007) in which local (greek) organizations outsource less hr functions compared to mnes. in a similar manner, smith et al. (2006) also indicate that more than half (57%) of organizations that outsource hr functions are mnes. table 2 also show that recruitment is the most frequently outsourced hr function for mnes (78.9%) and local organizations (90.5%), with training as most likely future outsourcing priority. routine and administrative hr functions (e.g. hris, benefits) for both organizations are among the least functions to be outsourced. this contradicts the popular knowledge that administrative is among the hr functions to be outsourced (greer et al., 1999). result for hris, however, are in agreement with lever (1997) that specify only few organizations outsource the function. the difference in the use of hr functions outsourced by mnes and local organizations t-tests were employed to measure the use of hr outsourcing by each group (mnes and local organizations). table 3 shows the results of the t-tests by each group of the organizations. table 3 results of t-tests on hr outsourcing between mnes and local organizations variable organizations n mean f sig. hr outsourcing mnes local 71 42 17.34 1.95 81.044 0.000* * significant at 0.01 level human resource outsourcing: .....( hasliza abdul-halim; norbani che-ha) 7 result shows that a significant difference was found in the use of hr outsourcing by each group namely mnes and local manufacturing organizations (f=81.04, p=0.000). mnes were found to have higher mean scores. this indicates that local organizations outsource less hr functions than mnes do, thus justify that ownership of the organization (mnes or local) is a significant indicator in decision making to outsource hr functions. therefore, the hypothesis formulated is supported. this result is consistent with galanaki & papalexandris (2007) in which multinational organizations tend to engage more with hr outsourcing than the local organizations. the difference of use of hr outsourcing in mnes and local organizations, by hr functions t-tests were also conducted to test whether the extent of outsourcing of hr functions is different between the two groups. results are presented in table 4. the percentage of the total hr function that is outsourced was found to be significantly different in mnes from local organizations in the case of payroll (f=72.77, p=0.000), benefits (f=20.82, p=0.000), training (f=124.94, p=0.000) and recruitment (f=5.817, p=0.018). this suggests that mnes were found to outsource a significantly larger part of their payroll, benefits, training and recruitment functions than the local organizations do. however, the use of outsourcing hris was found not to be significant between mnes and local organizations. table 4 results of t-tests for the difference in use of individual hr functions between mnes and local organizations hr functions organizations n mean f sig. payroll mnes local 71 42 15.77 1.95 72.77 0.000* benefits mnes local 71 42 5.00 1.40 20.82 0.000* training mnes local 71 42 37.82 1.10 124.94 0.000* recruitment mnes local 71 42 35.56 33.51 5.817 0.018* hris mnes local 71 42 4.15 2.86 1.265 0.263 * significant at 0.01 level conclusion the above findings show that mnes are significantly different in the use of hr outsourcing as opposed to local organizations. in this instance, more mnes appear to be outsourcing their hr functions more than local organizations. this finding is supported by galanaki & papalexandris (2005) that majority of mnes outsource their hr functions. this is because mnes are more demanding, knowledgeable of their hrm needs and therefore, require more advanced and sophisticated hr services. the findings of this study are important in identifying the trend of hr outsourcing among mnes and local organizations. the results also show that recruitment and training are among the most popular hr functions to be outsourced by both mnes and local organizations. this scenario is expected to be driven by the existence of reliable vendors specializing in designing and delivering the training programs as well as their experts in head hunting. another reason is due to the nature of these functions (recruitment and training) that changes too quickly for internal department to keep up and maintain, therefore outsourcing to specialized vendors is an alternative. 8 journal the winners, vol. 12 no. 1, maret 2011: 1-10 moreover, both organizations are found to outsource small parts of payroll, benefits and hris functions. the reason for performing most of these functions in house is that, in the asia pacific the decision to outsource tends to be made locally. therefore, most organizations refuse to outsource these functions because of the increasing concern over confidentiality and privacy issues (stroh & treehuboff, 2003; hewitt association, 2006). moreover, the growing complexity of compliance requirements in areas of benefits, hris and compensations made them unattractive for the external vendors. this might also imply that it will take a longer time for organizations in asia to build trust and confidence in a vendor, thereby extending the period from the initial contract to an ongoing relationship (hewitt association, 2006). it should be pointed out that, the findings also indicate that there is a significant difference in terms of outsourcing payroll, benefits, training and recruitment between mnes and local organizations. this explains that mnes tend to engage more with external vendors in outsourcing these functions as compared to local organizations. a major limitation of this study is due to its small sample size. moreover, this study only concentrates on manufacturing organizations as the key respondents; hence generalization on the findings to service organizations may be a challenge. thus, future studies should gather more samples and also include service organizations, in that, the role of hr outsourcing could be better understood from two different industries. moreover, plan for future research include deeper understanding on the factors that trigger the mnes and local organization to outsource their hr functions. in fact, the relationship between hr outsourcing and organizational performance would be interesting to scrutinize. in summary, this paper allows the hr managers to rethink the delivery of hr functions. there are many alternative delivery mechanisms that remove the delivery of hr practices from hr department (lepak et al. 2005). hr outsourcing is not the only option available. there is also some evidence that a large number of hr functions are shifted to line management (larsen and brewster 2003). for hr managers it is important to scrutinize these alternatives delivery mechanism, to weigh their pros and cons and to select the mechanism that match the business strategy of the organizations. references adler, p. s. 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(2006). distributing hrm responsibilities: a classification of organizations, personnel review, vol. 35 no.6, pp.618-36. sampul .pmd economic, business, management, and information system journal vvvvvolume 8, nomor 1, maret 2007olume 8, nomor 1, maret 2007olume 8, nomor 1, maret 2007olume 8, nomor 1, maret 2007olume 8, nomor 1, maret 2007 issn: 1412 1212 redaktur utama engkos achmad kuncoro, s.e., m.m. dewan redaksi dr. harjanto prabowo, m.m. idris gautama so, se., s.kom., m.m., m.b.a. ersa tri wahyuni, s.e., m.acc. tjia fie tjoe, s.kom., m.m. misbahul munir, ak., m.b.a. parulian sihotang, ak., m.acc., dipres., ph. d rindang widuri, s.kom., m.m. mitra bestari muhammad nashihin, ph.d. djoko sigit sayogo, s.e., m.acc. tomy gurtama soemapradja, s.e., m.m. synthia atas sari, s.ip., m.si. ariefah rachmawati, s.kom., m.m. anderes gui, s.kom., se., m.m. retno dewanti, s.ip., m.m. editor bahasa dan setter dra. endang ernawati, m.lib. titik rahayu s., s.s. holil angga ferdiansyah sekretariat hery h.m., s.kom. lies heliana alamat sekretariat subcenter publikasi ilmiah bidang ekonomi, center for research and comunnity services, universitas bina nusantara jl. kemanggisan ilir iii no. 45, kemanggisan/ palmerah, jakarta barat 11480 telp. (021) 5327630 ext. 6129 fax. (021) 5300244 e-mail: heryhm@binus.ac.id issn 1412-1212 subcenter publikasi ilmiah bidang ekonomi universitas bina nusantara economic, business, management, and information system journal vvvvvolume 8, nomor 1, maret 2007olume 8, nomor 1, maret 2007olume 8, nomor 1, maret 2007olume 8, nomor 1, maret 2007olume 8, nomor 1, maret 2007 issn: 1412 1212 daftar isi ignatius sarto kothson budiman analisis hubungan profitabilitas dengan harga saham sektor usaha makanan dan minuman di bursa efek jakarta (analysis of profitability relations with stock price in foods and beverages business sector in jakarta stock exchange)..................................................................................... 1-23 synthia atas sari; hartiwi prabowo peran growth opportunities, free cash flow, dan relative issue size dalam reaksi pasar terhadap pengumuman right issue (the role of growth opportunities, free cash flow, and relative issue size in market reaction on the right issue announcement)..................................................................... 24-37 tomy gurtama s.; mesha analisis kinerja reksa dana nusantara pt bhakti asset management dan penyusunan portfolio optimum teoritis periode januari – april 2005 (performance analysis of reksa dana nusantara of pt bhakti asset management and constructing theoritical optimum portfolio period of januari – april 2005)........................... 38-46 antonius herusetya pendapat auditor atas laporan keuangan untuk perusahaan yang terdaftar di bursa efek jakarta (auditor’s opinion on financial report for listed company in jakarta stock exchange)................ 47-57 suryadiputra liawatimena analisis dan perencanaan konsep strategi content management cyberwoman pada situs portal cbn.net.id (analysis and planning of cyberwoman content management strategic concept on cbn.net.id portal site).................................................................................................................... 58-80 hartiwi prabowo; synthia atas sari; idris gautama analisis pemilihan atribut produk baru untuk perilaku keputusan pembelian konsumen pada produk biokos botu-like series (analysis of new product atribute choosing for the customer buying decision behavior on biokos botu-like series product) ................................................................................................... 81-99 henny hendarti model pencatatan intellectual capital dalam menghadapi perubahan paradigma akuntansi baru (intellectual capital record model in facing the changes of new accounting paradigm).................... 100-109 140 journal the winners, vol. 15 no. 2, september 2014: 140-149 creativity-relevant personal characteristics among indonesian creative workers 1nugroho j. setiadi; 2rudy aryanto 1faculty of business and management, widyatama university jln. cikutra no 204 a, bandung 40124 2school of business management, bina nusantara university jln. k.h. syahdan no. 9, palmerah, jakarta barat 11480 1nugroho.setiadi@widyatama.ac.id ; 2raryanto@binus.edu abstract the study aims to identify creativity-relevant personal characteristics among creative workers in indonesia’s creative industry. identification of the constituent elements of the nature of the changes needs to be measured. researchers have advocated replacing creativity-relevant personal characteristics based on the fivefactor model to investigate how individual differences stimulate creativity. this study presents data supporting reliability (internal consistency) and validity (criterion and construct) of the instrument. validity of the instrument is based on the content validity involving art and design experts. the 220 creative workers from several creative industry firms in indonesia participated as samples in this research. results of a factor analysis indicated a five factor solution of creative characteristics and behavior. discussion of findings and the most important ways in which individuals differ in their enduring emotional, interpersonal, experiential, attitudinal, and motivational styles for stimulating creativity are presented. keywords: creative behavior, creative-relevant personal characteristics, factor analysis, the big five factor personality abstrak penelitian bertujuan untuk mengidentifikasi karakteristik pribadi kreatif yang relevan di kalangan pekerja kreatif di industri kreatif indonesia. identifikasi unsur konstituen dari sifat perubahan perlu untuk diukur. para peneliti menganjurkan mengganti karakteristik pribadi kreatif yang relevan berdasarkan pada model lima faktor untuk menyelidiki bagaimana perbedaan individu merangsang kreativitas. penelitian menyajikan data yang mendukung reliabilitas (konsistensi internal) dan validitas (kriteria dan konstruksi) instrumen. validitas instrumen didasarkan pada validitas isi yang melibatkan seni dan ahli desain. dua ratus dua puluh pekerja kreatif dari beberapa perusahaan industri kreatif di indonesia berpartisipasi sebagai sampel dalam penelitian ini. hasil analisis faktor menunjukkan solusi lima faktor karakteristik dan perilaku kreatif. penelitian menyampaikan pembahasan temuan dan cara beda individu dalam bertahan secara emosional, interpersonal, pengalaman, sikap, dan gaya motivasi untuk merangsang kreativitas. kata kunci: perilaku kreatif, karakteristik pribadi kreatif yang relevan, analisis faktor, lima besar faktor kepribadian mailto:nugroho.setiadi@widyatama.ac.id mailto:raryanto@binus.edu creativity-relevant personal..... (nugroho j. setiadi; rudy aryanto) 141 introduction the capacity of individuals to create innovations is a crucial element of organizational innovation. however, how to enhance creativity is difficult to answer. the literature on this subject is very large and beyond our capacity to read and integrate. this paper is therefore a reflection of what we have been able to identify individual characteristics that stimulate creativity through an empirical study on creative workers in indonesia's creative industry. globalization and competition have produced new challenges for business. one of the reactions is that many corporations have ‘discovered’ creativity. according to munroe (1995), 70 per cent of the cost of a production is determined by its design, so that the creative design can lead to substantial savings. as a result, creativity training and learning for workers is becoming widespread (clapham, 1997; thakray, 1995). when creativity is properly employed, carefully evaluated, skillfully managed and soundly implemented it is a key to business success. this is interesting to remind us that it is not just in the output that creativity should be assessed but also the input, the process and perspectives that are brought to unravel creative thinking and execution. to be competitive in the global market, organizations must continuously develop innovative and high-quality products and services, plus deliver them on time and at a lower cost than their competitors. therefore, today’s employees are required to be creative, yet also conform to rules and standards, and work efficiently to meet time and budget constraints. creativity is often perceived to be incongruent with conformity and attention to detail (kirton, 1976; kirton & de ciantis, 1987; levitt, 2002; rogers, 1983; mumford & gustafson, 1988; schuler & jackson, 1987; amabile & gryskiewicz, 1988). yet, these latter two characteristics would appear to be the human characteristics that ensure that employees maintain high quality standards. hence, creativity per se may be dysfunctional to performance outcomes that require conformity and attention to detail. several authors have examined the relationship among individuals in the workplace. theresa amabile has produced the most empirical research, exploring both personal characteristics and the interaction among people in the work environment. other researchers considered the interaction process among workers and their personal and combined characteristics (setiadi, boediprasetya, & wahdiaman, 2012; hoban, 2002). some authors considered the way groups interact to be the most important factor. one element, personal motivation, received a good deal of attention. amabile and gryskiewicz (1988) identified the factors that promoted problem solving or personal creativity by studying a group of 120 innovators working in research and development. although one factor, qualities of the group, assisted creativity, other group factors were not shown to do so. personal characteristics were related to creativity, including specific personality traits, self motivation, special cognitive abilities, a risk orientation, diverse experience, expertise in the area, social skill, brilliance and naiveté (amabile & gryskiewicz, 1988). the qualities of problem solvers that inhibited creativity, on the other hand, were lack of motivation (30%), unskilled (24%), inflexible (22%), externally motivated (14%), and socially unskilled (7%) (amabile & gryskiewicz, 1988). individual creativity was enhanced, in other words, by domain relevant skills, creativity-relevant skills and intrinsic task motivation. the study was conducted because of the phenomenon creative workers’ performance in indonesia creative industries are not identified in term of its mindset, attitude, behavior, and act in the realization of creative works. therefore, the identification of the constituent elements of the nature of the changes needs to be measured. several previous studies have been initiated when we conduct a study on identification of the constituent elements of the nature of change (change of dna) in the establishment of ways and mindset of business students (setiadi, 2009). similarly, the results of 142 journal the winners, vol. 15 no. 2, september 2014: 140-149 wahdiaman’s study (2009) showed that a series of visual expression to grow in media art is always based on the reality of space and time. both of these studies provide the inspiration for this study to determine the factors that encourages creativity and creative industries. based on horng and lin (2009), and setiadi, boediprasetya and wahdiaman’s studies (2012), the study was conducted. the results are expected to obtain a clearer description of the identification of creativity-relevant personal characteristics among creative workers in indonesia’s creative industry. creativity is the personal characteristic that is most clearly associated with innovation. creativity is defined as the production of novel ideas that are useful and appropriate to a given situation (amabile, 1983). a large body of literature has focused on identifying the personal characteristics, cognitive styles, and other attributes associated with creative achievement (see kirton, 1976; amabile, 1983; scott & bruce, 1994; woodman, sawyer, & griffin, 1993; oldham & cummings, 1996; tierney, farmer, & graen, 1999). personality theorists have offered hundreds of candidates and for decades factor analysts attempted to bring order to the resulting confusion by factoring personality scales. traits are consistent patterns of thoughts, feelings, or actions that distinguish people from one another. traits are basis tendencies that remain stable across the life span, but characteristic behavior can change considerably through adaptive processes. a trait is an internal characteristic that corresponds to an extreme position on a behavioral dimension. there have been different theoretical perspectives in the field of personality psychology over the years including human motivation, the whole person, and individual differences. the big five falls under the perspective of individual differences. creativity and personality the empirical work of the past 15 years on the personality characteristics of creative people brought few surprises. in general, a fairly stable set of core characteristics (e.g. high valuation of esthetic qualities in experience, broad interests, attraction to complexity, high energy, independence of judgment, autonomy, intuition, self-confidence, ability to resolve antinomies or to accommodate apparently opposite or conflicting traits in one’s self-concept, and, finally, a firm sense of self as “creative”) continued to emerge as correlates of creative achievement and activity in many domains. one manifestation of this apparent emergence of core characteristics was the development of several empirically keyed “creative personality” scales for gough’s adjective check list (gough, 1979). reasonably encouraging evidence of the construct validity of these scales has subsequently emerged (domino, 1974). a 5-year follow-up (schaefer 1972c) has demonstrated the temporal stability of one of these scales, and studies (harrington, 1975) have revealed very high inter-scale correlations. the magnitude of these correlations (typically in the .70s and .80s after statistical removal of general adjective-endorsing tendencies) establishes the existence of a set of core characteristics associated with creative achievement and activity in a fairly wide range of domains. the adjectives in the composite creative personality scale (harrington, 1975) provide a good sense of these scales: active, alert, ambitious, argumentative, artistic, assertive, capable, clear thinking, clever, complicated, confident, curious, cynical, demanding, egotistical, energetic, enthusiastic, hurried, idealistic, imaginative, impulsive, independent, individualistic, ingenious, insightful, intelligent, interests wide, inventive, original, practical, quick, rebellious, reflective, resourceful, self-confident, sensitive, sharpwited, spontaneous, unconventional, versatile and not conventional and not inhibited. personality factors determination the big five represents taxonomy (classification system) of traits that some personality psychologists suggest capture the essence of individual differences in personality. these traits were arrived at through factor analysis studies. factor analysis is a technique generally done with the use of computers to determine meaningful relationships and patterns in behavioral data. you begin with a large number of behavioral variables. the computer finds relationships or natural connections where creativity-relevant personal..... (nugroho j. setiadi; rudy aryanto) 143 variables are maximally correlated with one another and minimally correlated with other variables, and then groups the data accordingly. after this process has been done many times a pattern appears of relationships or certain factors that capture the essence of all of the data. such a process was used to determine the big five personality factors. many researchers tested factors other than the big five and found the big five to be the only consistently reliable factors. strict trait personality psychologists go so far as to say our behaviour is really determined by these internal traits, giving the situation a small role in determining behaviour. in other words, these traits lead to an individual acting a certain way in a given situation. allport, norman and cattell (in pervin & john, 1999) were influential in formulating this taxonomy which was later refined. allport compiled a list of 4500 traits. cattell reduced this list to 35 traits. others continued to analyze these factors and found congruence with selfratings, ratings by peers and ratings by psychological staff that eventually became the big five factors. the big five factors are: extraversion vs. introversion; agreeableness vs. antagonism; conscientiousness vs. undirectedness; neuroticism vs. emotional stability; openness to experience vs. not open to experience. method this study used an instrument that is prepared to evaluate the performance of creative work developed by the research team. this instrument is a self-assessment version developed from the results of content validity of the experts and actors in the creative industry sub-sectors under review. the process of data analysis performed using the software package spss for windows. factor analysis conducted to explore the components that can represent a set of variables under study. design factor analysis conducted through the steps of: (a) determining the correlation between variables and (b) the selection of variables, sample size, and measurement. analyzed dimensions are important factors perceived by respondents. to reduce these factors and predict appropriateness done through the method of common factor analysis, a method that latent factors are not determined in advance (kim & mueller, 1978). this method allowed data to cluster itself into a number of factors (variables). in addition, the reduction factors are also considered statistical criteria are commonly done in factor analysis, namely, the variance and eigen-value criteria of each factor (hair, black, babin, anderson, & tatham, 2006). collecting data is a part of activities on the recent research. due to time constraint, convenience sampling was employed. the 220 creative workers from several creative industry firms in indonesia have participated as samples in this research. questionnaires and rating-forms were distributed through the “put and pick up system” to the potential respondents, and they were instructed to put the completed questionnaire in a return envelope addressed to researcher. results and discussion to identify people characteristics and creative behaviour among indonesian creative workers, the instrument has been prepared. this instrument is a self-assessment version developed by setiadi, boediprasetya and wahdiaman (2011). validity of the instrument is based on the content validity involving art and design experts, namely prof. permadi tabrani, rudy farid, boediprasetya and wahdiaman, when the focus group discussion was held. table 1 presents the results of measuring the adequacy of the sample that demonstrated the value of kmo and bartlett's test (0.737) as a significant value for 0.000. 144 journal the winners, vol. 15 no. 2, september 2014: 140-149 table 1 the value of kmo and bartlett's test table 2 presents reliability test through the testing of internal consistency cronbach's alphas (cronbach, 1951) for each group based on gender. in this reliability testing, included test-retest reliability and mean inter-item correlations. results shows that all dimensions of the measurement characteristics of creative people for male is reliable (above 0.60), except for the dimension of openness to experience (0.44). while for female showed a somewhat different result, namely the dimension of openness to experience and agreeableness showed results of internal reliability test did not consistent. results of reliability testing through the inter-item correlations showed that only neuroticism and conscientiousness dimensions that have a high correlation, both for male and female. table 2 internal consistency reliabilities (cronbach’s alpha), mean inter-item correlations based on gender personal characteristics reliability (internal consistency) mean inter-item correlation male female male female neuroticism 0.82 0.83 0.28 0.28 extraversion 0.63 0.70 0.14 0.18 openness to experience 0.44 0.56 0.06 0.09 agreeableness 0.64 0.44 0.14 0.07 conscientiousness 0.81 0.81 0.27 0.27 *p<0.1; **p<0.05; ***p<0.01(2-tailed) results of extraction factor in term of the creative nature have been grouped into five factors (table 3). twenty seven characteristics have been identified as a measure of the behavioral characteristics of creative people who are useful to determine which of them to support the performance of creative work and which do not encourage the performance of creative people. table 3 the results of factor extraction personal characteristics items component 1 2 3 4 5 tension , 0.75 -0.08 -0.06 -0.01 -0.09 anxiety, -0.63 0.07 -0.20 0.07 0.22 inferior, 0.59 -0.08 -0.05 0.05 0.21 ashamed, 0.56 -0.06 -0.20 -0.25 0.09 worry, 0.55 0.05 -0.13 -0.10 -0.27 sad, -0.54 0.07 -0.08 0.12 0.17 creativity-relevant personal..... (nugroho j. setiadi; rudy aryanto) 145 table 3 the results of factor extraction (continued) personal characteristics items component 1 2 3 4 5 worthless, 0.53 -0.05 -0.23 -0.10 -0.10 easy to stress , 0.52 -0.18 -0.18 0.04 -0.06 helplessness, 0.33 -0.24 0.16 -0.14 -0.03 excited, -0.14 0.79 0.15 -0.04 0.09 sociable, -0.06 0.65 0.11 -0.02 0.02 easy to laugh, -0.02 0.61 -0.07 -0.06 0.01 gregarious, 0.04 0.60 -0.04 0.32 0.02 active, -0.25 0.60 0.14 -0.27 -0.04 happy, -0.24 0.56 0.13 0.11 0.07 fun -0.16 0.40 -0.01 0.13 0.09 loneliness 0.21 0.26 -0.11 -0.19 0.11 clever use of time, -0.05 -0.13 0.68 -0.04 -0.05 works well organised, -0.02 -0.09 0.63 0.15 0.03 systematic 0.14 -0.02 -0.56 -0.01 0.20 responsibility 0.03 0.13 0.52 0.23 0.26 productive -0.32 0.19 0.50 -0.23 0.15 has a target -0.21 0.16 0.49 0.01 0.36 work hard -0.01 0.32 0.48 -0.15 0.17 neat and net 0.12 0.05 0.46 0.27 -0.04 do not waste time -0.26 -0.04 0.43 0.17 -0.25 commit -0.23 0.09 0.42 -0.24 0.33 honest -0.13 0.00 -0.00 0.61 0.02 cynical and skeptical -0.17 0.16 0.13 0.54 -0.12 selfish -0.11 0.28 0.22 0.48 -0.00 excessive -0.16 0.42 -0.02 -0.47 -0.08 cold -0.17 0.29 -0.24 0.47 -0.30 quarrelsome -0.15 -0.12 0.05 0.46 0.04 suspicious -0.28 0.05 0.02 0.39 -0.19 likes to work together 0.19 0.25 -0.12 0.36 0.23 polite 0.09 0.24 0.31 0.35 0.08 empathy -0.03 -0.14 0.00 0.32 -0.06 egotistical -0.19 0.03 0.24 0.31 -0.00 theoretical -0.16 -0.02 0.02 -0.30 0.59 pride 0.06 0.02 0.13 -0.02 0.55 irritability 0.03 0.24 -0.10 -0.10 0.45 sensitive 0.01 0.28 0.11 0.17 0.38 curiosity -0.17 0.13 0.19 -0.32 0.36 speculation 0.16 0.12 0.05 -0.07 -0.32 theoretical 0.23 -0.06 0.06 -0.02 -0.29 extraction method: principal component analysis rotation method: varimax with kaiser normalization a rotation converged in 7 iterations these results show that the elements were grouped according to the neo-ffi personality dimensions of costa and mccrae’s study (costa & mccrae, 1992). therefore, the first factor can be called as neuroticism factor, because it describes the item relating to the attributes of emotional stability. it means that the low levels of neuroticism shows the individual's ability to control his emotions, for example, calm attitude in solving problems, tough, not easily give up, self-conscious and anxious. the second factor is extraversion. this factor represents the attributes associated with the characteristics of someone who is outgoing and assertive, friendly, warm, and always think positive. the third factor is conscientiousness. this factor represents the attributes associated with more typical of someone who is meticulous, responsible and hardworking or industrious, obedient, orderly, and 146 journal the winners, vol. 15 no. 2, september 2014: 140-149 disciplined. the fourth factor is agreeableness as representing the attributes associated with the typical people you trust and polite, willing to sacrifice for the benefit of others, and rather blunt. finally, the fifth factor is openness to experience. this factor represents the attributes associated with creative thinking, sensitive, a lot of ideas, and artistic. element that has the highest factor loading in each group shows the magnitude of the contribution element in determining the creative nature of creative workers. these elements are enthusiastic, low level in depression, self-discipline, trust and ideas. table 4 presents the mean value and standard deviation of each measurement of the characteristic dimensions of creative workers. these measurements were divided into 2 groups based on gender. levene's test was conducted to examine whether there are differences in each dimension of the measurement of creative workers’ personal characteristics based on gender differences. results showed that there was no significant difference between these two groups of samples when tested each dimensional measurement of creative workers’ characteristics. table 4 the mean value and standard deviation of each dimension of personal characteristics measurement of creative workers based on gender personality dimensions male female t-test mean sd mean sd neuroticism 2.88 0.81 3.09 0.77 -0.88 extraversion 3.43 0.56 3.41 0.60 0.13 conscientiousness 3.26 0.31 3.19 0.41 0.67 agreeableness 3.15 0.45 3.36 0.54 -1.42 openness to experience 3.57 0.53 3.68 0.51 -0.64 n 132 88 220 *p<0.1; **p<0.05; ***p<0.01(2-tailed) everyone has the potential to be creative. there are even things that an individual can do to enhance their creativity. for every positive there is a negative and, there are also acts and ideals that can hinder an individual’s creativity. on the other hand, there are some of the obstacles that one must overcome in order to be creative. the most common does not believe oneself to be creative. if a person believes themselves to be lacking in creativity they will not pursue creative ways of expressing themselves. also, if an individual is too busy or involved in a problem they will not be able to find time to focus on a creative endeavor. individuals that do not allow enough time for relaxation usually will be stressed and their minds will not be able to think creatively because it will be absorbed in the problem at hand. hoban [12] further suggests that there are some aspects that hinder creativity within a person that are related to self-esteem. examples of such issues are a "fear of criticism and lack of confidence." self-criticism is another major issue that hinders creativity. if an individual is always telling themselves that others will not like something and that it isn't good enough that is what the result will be. whenever they present their creative endeavor they will not present it with confidence and enthusiasm. people must believe in themselves and their ideas in order for others to believe in them. after the individual has received the negative response there is a good chance that they will not pursue it or further creative endeavors of that sort. each person has their own potential. one's potential can be derived from the innate and experience. even if a person has the innate potential for high levels of creativity, not necessarily that it could realize its potential. especially when its work was poor stimulation, such as authoritarian boss, does not provide the freedom to subordinates, and never listen to others' opinions. during the period of creativity-relevant personal..... (nugroho j. setiadi; rudy aryanto) 147 measurement development, implementation of these measures provide a more clear identification of the constituent elements of the nature of change (change of dna) of workers in creative industries. the experimental results of this measurement is useful in mapping the potential and creative performance on existing workers in indonesia's creative industry. thus, creative workers in the creative industries can be prepared with the provision of excellence in the creative ability to analyze problems, good communication and confidence. in the work context, the creative worker is a strategic focus. the success of the work rely on creative workers. however, it should be realized that the workers have the potential diversity and respective capabilities. they are unique with all the potential and capacity. this uniqueness cannot be uniform. uniqueness of the workers is causing a separate issue that must be recognized and solved, so that to manage of creative workers in an integrated framework to be considered, especially considered in the development of creativity. therefore, the development potential and creativity of workers must proceed from the characteristics of giftedness and creativity that needs to be optimized for workers ranging from cognitive (thinking), affective (feelings), and psychomotor (behavioral). intrinsic motivation and creativity fostered through individual potential and create a psychological climate that guarantees freedom of creative expression for the workers in the work environment. although a two-year period of this study was successfully conducted exploratory studies and identify the model to measure the characteristics of creative workers in creative industries, as well as to the application of measurement and utilization of research results to evaluate the performance of creative workers, however, for future studies still needed a study on cultural and aesthetic values as well as the function of the activity of creative workers. thus, the results provide a direct contribution to the needs of the community. finally, modeling the development of creative industries in indonesia can serve as a pilot project for other countries. conclusion this study implemented factor analysis to understand creativity-relevant personal characteristics. findings indicate that there are five factors solution of creative characteristics and behavior. these results show that the elements were grouped according to the neo-ffi personality dimensions of costa and mccrae’s study (1992). the most important ways in which individuals differ in their enduring emotional, interpersonal, experiential, attitudinal, and motivational styles for stimulating creativity are presented through this study. benefits of using factor analysis to understand creativity-relevant personal characteristics may provide many benefits in keeping of mind that the traits fall on a continuum and this overhead shows characteristics associated with each of the traits. looking at these characteristics we can formulate what each of the traits mean. firstly, extraversion – means a person is, talkative, social and assertive. secondly, agreeableness – means a person is good natured, co-operative and trusting. thirdly, conscientiousness – means a person is responsible, orderly and dependable. fourthly, neuroticism – means a person is anxious, prone to depression and worries a lot. finally, openness – means a person is imaginative, independent minded, and has divergent thinking. acknowledgment the paper is an outcome of competency research funded by the higher educational directorate of the indonesia national education department under grant number 043/sp2h/pl/dit.litabmas/v/2013. this paper also has been presented on the colloquium of administrative science and technology 2013 (coast 2013) by r. aryanto. the authors want to thank all contributors to this project, especially, a boediprasetya, l. amaliawiati and n. nurani, who did most of the share ideas. 148 journal the winners, vol. 15 no. 2, september 2014: 140-149 references amabile, t. m. 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(1993). toward a theory of organizational creativity. academy of management journal, 18, 293-321. microsoft word 05_vol.15.1. masruroh_ok_a2t.doc   34                                                                                journal the winners, vol. 15 no. 1, maret 2014: 34-46  analisis efisiensi biaya terhadap keputusan penggunaan outsourcing bidang cleaning service dan catering pada pt kuwera jaya jakarta masruroh; ferry fernanda; tony wibowo 1management department, school of business management, binus university jln. k.h. syahdan no. 9, palmerah, jakarta barat 11480 masruroh2000@yahoo.com abstract bustle to serve customers make the company should focus more on its core business. nowadays, pt kuwera jaya manages and employs its own cleaning service activities and also gives money for meal to employees in supporting activities. conditions of supporting activities make pt kuwera jaya analyze the cost efficiency of supporting activities either self hiring or outsourcing. this study compared the use of relevant cost for self hiring and outsourcing, so that it could be analyzed which is more efficient alternative based on the most relevant low costs. because the plan would still be done in the future, then to consider possible changes in the future, it was created three scenarios: pessimistic, moderate, optimistics with each of the relevant assumptions for each scenario. results of the study indicate that the three scenarios using outsourcing as a viable alternative chosen by pt kuwera jaya because it could minimize the cost of supporting good cleaning service activities to manage the activities of cleanliness and also catering to provide lunch for employees. suggestion in this research is pt kuwera jaya should immediately decide to use outsourcing in supporting the activities of cleaning service and catering. in addition to the benefits of outsourcing for cost efficiency, the field of activity is allowed in employment act no 13 2003, articles 64 to 66.   keywords: cost efficiency, outsourcing, cleaning service, catering abstrak kesibukan dalam melayani pelanggan membuat perusahaan harus lebih fokus pada core business. selama ini pt kuwera jaya mengelola dan mempekerjakan sendiri aktivitas cleaning service dan juga memberikan uang makan bagi karyawan kegiatan penunjang. kondisi kegiatan penunjang ini dapat membuat pt kuwera jaya mengefisiensikan segala biaya yang ada. salah satunya, menganalisis efisiensi biaya kegiatan penunjang, yaitu dengan mempekerjakan sendiri seperti yang selama ini dilakukan atau dengan alternatif menggunakan outsourcing bagi kegiatan penunjang. penelitian ini mengunakan relevan cost atas biaya memperkerjakan sendiri dan alternatif pengunaan outsourcing, sehingga dapat dianalisis alternatif mana yang lebih efisien berdasarkan pada biaya relevan atas biaya setiap alternatif yang paling rendah. karena rencana ini masih akan dilakukan pada masa yang akan datang maka untuk mempertimbangkan kemungkinan perubahan pada masa yang akan datang, dibuat tiga skenario yaitu pesimis, moderat, optimis dengan masing-masing asumsi yang relevan untuk setiap skenario. hasil penelitian ketiga skenario tersebut menunjukkan bahwa alternatif menggunakan outsourcing yang layak dipilih oleh pt kuwera jaya jakarta karena dapat mengefisienkan biaya kegiatan penunjang baik cleaning service untuk mengelola aktivitas kebersihan dan juga catering untuk menyediakan makan siang bagi karyawan. saran yang dapat diajukan dalam penelitian ini adalah sebaiknya pt kuwera jaya segera memutuskan untuk menggunakan outsourcing atas kegiatan penunjang yakni cleaning service dan catering. selain manfaat adanya efisiensi biaya, outsourcing di bidang kegiatan ini diperbolehkan dalam undang-undang ketenagakerjaan no.13 tahun 2003 pasal 64 66. kata kunci: efisiensi biaya, outsourcing, cleaning service, catering analisis efisiensi biaya..... (masruroh; dkk) 35  pendahuluan persaingan dalam dunia bisnis antarperusahaan membuat perusahaan harus berkonsentrasi pada rangkaian proses atau aktivitas penciptaan produk dan jasa yang terkait dengan core business. konsentrasi terhadap core business perusahaan akan menghasilkan sejumlah produk dan jasa yang berkualitas dengan daya saing di pasaran. dalam iklim persaingan usaha yang makin ketat perusahaan berusaha untuk melakukan efisiensi biaya produksi (cost of production) (wirawan, n.d.). salah satu solusinya adalah dengan sistem outsourcing. dengan sistem ini perusahaan dapat menghemat pengeluaran dalam membiayai sumber daya manusia (sdm) yang bekerja di perusahaan yang bersangkutan. (wirawan, n.d.) menurut david (2011), perusahaan memilih menggunakan outsourcing di dalam fungsi operasional karena beberapa alasan. di antaranya adalah biaya yang dikeluarkan lebih sedikit, membuat perusahaan lebih fokus pada core business, dan juga perusahaan dapat memberikan layanan yang lebih baik. outsourcing diartikan sebagai pemindahan atau pendelegasian beberapa proses bisnis kepada suatu badan penyedia jasa, sehingga badan penyedia jasa tersebut melakukan proses administrasi dan manajemen berdasarkan definisi serta kriteria yang telah disepakati oleh para pihak. outsourcing dalam hukum ketenagakerjaan di indonesia diartikan sebagai pemborongan pekerjaan dan penyediaan jasa tenaga kerja. pengaturan hukum outsourcing di indonesia diatur dalam undangundang ketenagakerjaan nomor 13 tahun 2003 (pasal 64, 65, dan 66) dan keputusan menteri tenaga kerja dan transmigrasi republik indonesia no.kep.101/men/vi/2004 tahun 2004 tentang tata cara perijinan perusahaan penyedia jasa pekerja/buruh (kepmen 101/2004). outsourcing tidak dapat dipandang secara jangka pendek saja karena dengan menggunakan outsourcing perusahaan pasti akan mengeluarkan dana lebih sebagai management fee perusahaan outsourcing. outsourcing harus dipandang secara jangka panjang, mulai dari pengembangan karier karyawan, efisiensi dalam bidang tenaga kerja, organisasi, keuntungan, dan lainnya. dengan menggunakan outsourcing, maka perusahaan dapat fokus pada kompetensi utama dalam bisnis sehingga dapat berkompetisi dalam pasar. hal-hal internal perusahaan yang bersifat penunjang (supporting) dialihkan kepada pihak lain yang lebih profesional (perusahaan outsourcing). pt kuwera jaya merupakan perusahaan yang bergerak dalam bidang jasa ticketing. melihat penggunaan outsourcing yang dapat meningkatkan efisiensi biaya bagi perusahaan, tentunya hal ini menjadi pertimbangan tersendiri. oleh karena itu sebagai perusahaan yang bergerak dalam bidang jasa, pt kuwera jaya perlu lebih fokus terhadap core business. sedangkan kegiatan penunjang pada perusahaan seperti cleaning service dan penyediaan catering dapat diserahkan pada perusahaan outsourcing. sementara itu, penggunaan outsourcing masih sangat menguntungkan perusahaan, di luar isuisu yang beredar mengenai ketenagakerjaan beberapa tahun terakhir. misalkan masalah benefit, tentunya ada perbedaan antara karyawan outsourcing dengan karyawan pada perusahaan pengguna outsourcing. hal-hal yang terdapat pada peraturan perusahaan yang disepakati untuk ditaati akan disosialisasikan kepada karyawan outsourcing oleh perusahaan outsourcing. sosialisasi ini penting untuk meminimalkan tuntutan dari karyawan outsourcing yang menuntut dijadikan karyawan tetap pada perusahaan pengguna jasa outsourcing karena kurangnya informasi tentang hubungan hukum antara karyawan dengan perusahaan pengguna outsourcing. dalam hal ini, perusahaan outsourcing harus bisa menempatkan diri dan bersikap bijaksana agar bisa mengakomodasi kepentingan karyawan maupun perusahaan pengguna jasa pekerja, mengingat perusahaan pengguna jasa pekerja sebenarnya adalah pihak yang lebih mengetahui keseharian performa karyawan daripada perusahaan outsourcing itu sendiri.   36                                                                                journal the winners, vol. 15 no. 1, maret 2014: 34-46  melihat isu-isu yang berkembang tersebut, muncullah permasalahan bagi pt kuwera jaya untuk memilih menggunakan outsourcing atau mempekerjakan sendiri karyawan dalam kegiatan penunjang, yaitu cleaning service dan penyediaan catering. oleh sebab itu, penelitian dilakukan untuk meneliti keputusan perusahaan menggunakan outsourcing yang berpengaruh terhadap efisiensi biaya di pt kuwera jaya. rumusan masalah dalam penelitian adalah sebagai berikut. pertama, bagaimana perbandingan biaya keputusan outsourcing dengan keputusan mempekerjakan sendiri pada kegiatan bidang cleaning service dan catering pada pt kuwera jaya. kedua, seberapa besar penghematan biaya atas keputusan outsourcing yang dilakukan oleh pt kuwera jaya. dengan demikian, tujuan penelitian ini adalah sebagai berikut. pertama, untuk mengetahui perbandingan biaya keputusan outsourcing dengan keputusan mempekerjakan sendiri pada kegiatan bidang cleaning service dan catering pada pt kuwera jaya. kedua, untuk mengetahui besar penghematan biaya atas keputusan outsourcing yang dilakukan pt kuwera jaya. kerangka teoretis dan kerangka penelitian bisnis hughes dan kapoor (sugiono, 2004) menyatakan: "business is the organized of individuals to produce and self a profit, the good and service that satisfy society’s needs. the general term business refers to all such effort within a society or within an industry." maksudnya bisnis adalah suatu kegiatan individu atau organisasi yang secara hukum terorganisasi untuk menjual dan menghasilkan barang dan jasa guna mendapat keuntungan dalam memenuhi kebutuhan masyarakat. alma (2003) menyatakan bahwa bisnis adalah sejumlah total usaha yang meliputi bidang pertanian, produksi, konstruksi, distribusi, transportasi, komunikasi, perhotelan, usaha jasa, dan pemerintahan yang bergerak dalam bidang membuat dan memasarkan barang dan jasa ke konsumen. perencanaan bisnis menurut madura (2007) rencana bisnis adalah suatu deskripsi rinci dari suatu usulan bisnis, termasuk di dalamnya deskripsi bisnis, jenis pelanggan yang ingin ditarik, persaingan, dan fasilitas yang diperlukan untuk produksi. sedangkan menurut suryana (2008) perencanaan usaha adalah suatu cetak biru tertulis yang berisikan misi usaha, usulan usaha, operasional usaha, rincian strategis, dan peluang yang mungkin diraih. biaya biaya merupakan aspek yang mutlak di perusahaan mana pun. besar kecilnya biaya yang dikeluarkan perusahaan tergantung dari tingkat kebutuhan yang diperlukan untuk mencapai tujuan. menurut horngren, datar, dan foster (2008): “biaya adalah suatu sumber daya yang dikorbankan (sacrificed) atau dilepaskan (forgone) untuk mencapai tujuan tertentu.” “biaya adalah arus keluar atau pengkonsumsian aset dan atau timbulnya kewajiban selama suatu periode yang berasal dari pengiriman dan produksi barang, penyerahan jasa, atau penyelenggara aktivitas-aktivitas lainnya yang merupakan operasi utama dari suatu entitas.” klasifikasi biaya menurut usry, carter, dan thomson (2004), “keberhasilan dalam merencanakan dan mengendalikan biaya tergantung pada pemahaman yang menyeluruh atas hubungan antara biaya dan aktivitas bisnis. studi dan analisis yang hati-hati atas dampak aktivitas bisnis atas biaya umumnya analisis efisiensi biaya..... (masruroh; dkk) 37  akan menghasilkan klasifikasi tiap pengeluaran sebagai biaya tetap, biaya variabel, atau biaya semivariabel.” pertama, biaya tetap didefinisikan sebagai biaya yang secara total tetap tanpa berhubungan dengan peningkatan aktivitas. kedua, biaya variabel didefinisikan sebagai biaya yang secara total meningkat secara proposional terhadap peningkatan dalam akitivtas. ketiga, biaya semivariabel didefinisikan sebagai biaya yang memperlihatkan baik karakteristik-karakteristik dari biaya tetap maupun biaya variabel. objek biaya dan pemicu biaya objek biaya dan pemicu biaya bervariasi tergantung pada bentuk dan sifat organisasi dan objek biayanya. objek biaya merupakan aktivitas yang mengakumulasikan biaya. lima jenis objek biaya adalah produk atau kelompok produk yang saling berhubungan, jasa, departemen, proyek (proyek penelitian, pemasaran). jumlah total biaya untuk suatu objek biaya dipengaruhi oleh cost driver. cost driver merupakan faktor-faktor yang mempunyai efek terhadap perubahan level biaya untuk sebuah objek biaya. sebagai contoh, biaya listirk dalam pabrik (objek biaya) dipengaruhi oleh jumlah jam mesin. jadi, jumlah jam mesin merupakan cost driver untuk biaya listrik. cost driver merupakan langkah penting dalam analisis strategis dan manajemen biaya pada sebuah perusahaan. identifikasi dan analisis cost driver tersebut merupakan dasar dalam penentuan biaya dan objek biaya secara akurat dan untuk pengendalian biaya objek tersebut. biaya langsung dan biaya tak langsung pembebanan biaya langsung dan alokasi biaya (biaya langsung dan biaya tak langsung). pembebanan biaya merupakan proses pembebanan biaya ke dalam cost pool atau ke cost object secara mudah dan dapat dihubungkan secara ekonomi. contohnya, biaya yang dibutuhkan untuk produk tertentu merupakan biaya langsung karena biaya tersebut dapat ditelusuri secara langsung ke produk. dalam perusahaan angkutan udara, biaya penyiapan, dan pemrosesan tiket penumpang merupakan biaya langsung dari jasa yang diberikan kepada pelanggan. sebaliknya, biaya tak langsung, tidak dapat ditelusuri secara mudah sulit dihubungkan secara ekonomi dari biaya cost pool ke cost pool atau cost object. biaya tak langsung biasa disebabkan oleh dua atau lebih cost pool atau objek yang tidak dapat dengan mudah dan secara ekonomi ditelusuri secara langsung. biaya pengawasan terhadap para karyawan produksi dan bagian penanganan bahan merupakan contoh yang bagus dari biaya yang pada umumnya tidak dapat ditelusuri secara langsung. outsourcing secara sederhana, outsourcing dapat diartikan sebagai praktik yang ditempuh oleh suatu perusahaan untuk menyerahkan sebagian aktivitasnya untuk dikerjakan oleh perusahaan lain sehingga organisasi perusahaan menjadi saling keterkaitan antara satu dengan yang lainya. menurut definisi maurice greaver, outsourcing dipandang sebagai tindakan mengalihkan beberapa aktivitas perusahaan dan hak pengambilan keputusannya kepada pihak lain (outside provider), yang tindakan ini terikat dalam suatu kontrak kerjasama (faiz, 2007). beberapa pakar serta praktisi outsourcing dari indonesia juga memberikan definisi mengenai outsourcing, antara lain menyebutkan bahwa outsourcing dalam bahasa indonesia disebut sebagai alih daya, adalah pendelegasian operasi dan manajemen harian dari suatu proses bisnis kepada pihak luar (perusahaan jasa outsourcing). pendapat serupa juga dikemukakan oleh muzni tambusai, direktur jenderal pembinaan hubungan industrial departemen tenaga kerja dan transmigrasi yang mendefinisikan pengertian outsourcing sebagai memborongkan satu bagian atau beberapa bagian   38                                                                                journal the winners, vol. 15 no. 1, maret 2014: 34-46  kegiatan perusahaan yang tadinya dikelola sendiri kepada perusahaan lain yang kemudian disebut sebagai penerima pekerjaan. (faiz, 2007) dari definisi yang dikemukakan, terdapat persamaan dalam memandang outsourcing yaitu terdapat penyerahan sebagian kegiatan perusahaan pada pihak lain. dalam pendekatan yang lebih strategis, outsourcing adalah merupakan kombinasi dari dua strategi. strategi pertama, pemusatan aktivitas, investasi, alokasi sumber daya perusahaan, dan perhatian manajemen pada bidang-bidang yang memiliki tingkat kompetensi tinggi (core competence), yaitu keahlian dan keterampilan yang dimiliki perusahaan yang memungkinkanya unggul dalam mengembangkan dan memasarkan produk atau jasa yang berintikan keahlian tersebut. kedua, pelimpahan kegiatan bidang lain yang perusahaan tidak memiliki suatu kepentingan strategis atau kemampuan khusus, sehingga perusahaan tidak perlu menjadi yang terbaik atau tidak bisa melakukan lebih baik dari perusahaan lain (quinn & hilmer, 1994). manfaat outsourcing penerapan strategi outsourcing secara tepat dapat memberikan berbagai manfaat (keuntungan) bagi perusahaan baik dari segi teknis pada masa kini maupun segi strategis pada masa yang akan datang. pertama, meningkatkan skala efisiensi perusahaan atau mengurangi biaya (cost reduction). kedua, memungkinkan perusahaan untuk memfokuskan perhatian pada bidang yang menjadi core competence dan value-added activities sehingga bisa mengoptimalkan return. ketiga, mengurangi biaya investasi, outsourcing memungkinkan perusahaan kecil yang kekurangan modal tetapi mempunyai kapabilitas untuk memasuki bisnis kelas dunia. keempat, memungkinkan perusahaan untuk memanfaatkan expert knowledge tanpa harus memiliki atau merekrut tenaga kerja dengan kemampuan tersebut. kelima, outsourcing dapat menjadi sistem pelatihan secara tidak langsung bagi karyawan, karena hasil outsourcing dapat dipelajari oleh karyawan tentang bagaimana pekerjaan diselesaikan. risiko outsourcing penerapan strategi outsourcing tidak berarti tanpa risiko, meskipun provider (penyedia jasa/pemasok) yang berpengalaman bersama-sama dengan perusahaan dapat mengurangi atau mengeliminasi risiko tersebut. berbagai risiko yang paling umum terjadi, yaitu: (1) perusahaan menjadi sangat tergantung pada pemasok, hal ini akan menjadi permasalahan yang serius bila tejadi kegagalan pasar; (2) membagi informasi perusahaan kepada pemasok sehingga membuka kemungkinan pemasok untuk masuk ke dalam area bisnis perusahaan dan menjelma menjadi pesaing yang serius; (3) menyebabkan karyawan perusahaan menjadi frustasi. karyawan perusahaan dapat memandang rencana outsoucing sebagai suatu cara untuk melempar/memecat karyawan dan memangkas biaya yang dikeluarkan oleh perusahaan. penentuan core business dan pekerjaan penunjang dalam perusahaan sebagai dasar pelaksanaan outsourcing berdasarkan undang-undang ketenagakerjaan outsourcing hanya dibolehkan jika tidak menyangkut core business. dalam penjelasan pasal 66 uu no.13 tahun 2003, disebutkan bahwa “yang dimaksud dengan kegiatan penunjang atau kegiatan yang tidak berhubungan langsung dengan proses produksi adalah kegiatan yang berhubungan di luar usaha pokok (core business) suatu perusahaan. kegiatan tersebut antara lain: usaha pelayanan kebersihan (cleaning service), usaha penyediaan makanan bagi pekerja/buruh catering, usaha tenaga pengaman (security/satuan pengamanan), usaha jasa penunjang pada pertambangan dan perminyakan, serta usaha penyediaan angkutan pekerja/buruh.” analisis efisiensi biaya..... (masruroh; dkk) 39  interpretasi yang diberikan undang-undang masih sangat terbatas dibandingkan dengan kebutuhan dunia usaha saat ini. penggunaan outsourcing makin meluas ke berbagai lini kegiatan perusahaan. konsep dan pengertian usaha pokok atau core business dan kegiatan penunjang atau noncore business adalah konsep yang berubah dan berkembang secara dinamis. kerangka pemikiran metode jenis penelitian ini adalah penelitian deskriptif kualitatif dan kuantitatif. penelitian ini berdasarkan data kuantitatif yang dianalisis secara kualitatif. analisis terhadap keputusan perusahaan ke depannya yang mempertimbangkan untuk mempekerjakan sendiri atau menggunakan jasa dari perusahaan outsourcing. unit penelitian adalah pada perusahaan pt kuwera jaya, perusahaan penyedia jasa outsourcing cleaning service, dan dari perusahaan penyedia catering yang digunakan nantinya sebagai alternatif pilihan melakukan outsourcing dalam kegiatan penunjang bagi perusahaan. perusahaan memiliki dua alternatif keputusan yang dapat dianalisis yaitu biaya yang dikeluarkan untuk mempekerjakan sendiri dan biaya yang dikeluarkan apabila menggunakan outsourcing dalam bidang kegiatan cleaning service dan catering. beberapa biaya yang dikeluarkan antara lain sebagai berikut. pertama, biaya mempekerjakan sendiri (per bulan selama 1 tahun) adalah (a) untuk cleaning service: gaji, transport, seragam kerja, peralatan kebersihan, uang makan, biaya pelatihan, biaya recruitment, asuransi; (b) untuk catering: uang makan yang diberikan karena perusahaan pt kuwera jaya memberikan uang kepada karyawan untuk membeli sendiri makan siang. biaya makan per orang dikalikan frekuensi makan perhari. kedua, biaya menggunakan outsourcing cleaning service yaitu biaya jasa outsourcing cleaning service dan catering yaitu biaya jasa outsourcing catering.   40                                                                                journal the winners, vol. 15 no. 1, maret 2014: 34-46  metode analisis penelitian ini menggunakan analisis biaya yang relevan dan strategis dalam pengambilan keputusan untuk membuat (dalam hal ini mempekerjakan sendiri), menyewa, atau membeli. menurut blocher dkk (2008): “relevant cost are cost that will be incurred at some future time; they differ for each option available to the decision maker.” atau dapat diartikan biaya yang dikeluarkan pada masa yang akan datang; berbeda untuk setiap pilihan yang tersedia bagi pengambil keputusan. dapat disimpulkan biaya relevan adalah biaya yang berbeda atas setiap alternatif keputusan pada masa yang akan datang. perusahaan yang saat ini mempekerjakan sendiri kegiatan penunjangnya yaitu bidang cleaning service dan juga memberikan uang makan bagi karyawan memiliki alternatif menggunakan outsourcing. dari alternatif tersebut perlu dilakukan analisis biaya apa saja yang relevan untuk dapat diambil keputusan dilihat dari alternatif yang menghasilkan biaya paling rendah. data yang akan diolah adalah biaya-biaya relevan apa saja yang dikeluarkan perusahaan untuk setiap alternatif yang ada yaitu: mempekerjakan sendiri (karyawan cleaning service dan pemberian uang makan siang atau menggunakan outsourcing (cleaning service dan catering). setelah mengetahui berapa besar biaya relevan yang dikeluarkan perusahaan untuk mempekerjakan sendiri kegiatan penunjangnya maka akan dibandingkan dengan biaya yang dikeluarkan perusahaan apabila menggunakan outsourcing. kondisi dan keadaan yang tidak stabil di indonesia tentu akan mengakibatkan sulitnya memprediksi kenaikan biaya yang terjadi pada masa yang akan datang. oleh karena itu perlu dibuat tiga skenario untuk memperkirakan kenaikan biaya outsourcing yang terjadi tahun berikutnya yang akan berbeda untuk setiap alternatif penggunaan outsourcing, yaitu: pesimis dengan asumsi kenaikan biaya outsourcing 10%; moderat dengan asumsi kenaikam biaya outsourcing 7.5%; dan optimis dengan asumsi kenaikan biaya outsourcing 5%. setelah mengetahui biaya dan efisiensi yang diperoleh perusahaan jika memilih alternatif menggunakan outsourcing cleaning service dibandingkan dengan alternatif mempekerjakan sendiri karyawan cleaning service, selanjutnya menghitung biaya dan efisiensi yang diterima perusahaan jika menggunakan outsourcing bidang catering dibandingkan dengan perusahaan memilih alternatif memberikan uang makan kepada karyawannya dengan tiga skenario yang ada. hasil dan pembahasan analisis biaya relevan untuk menganalisis biaya relevan yaitu menentukan biaya-biaya apa saja yang relevan terhadap keputusan yang akan diambil perusahaan. kemudian menghitung selisih dari biaya yang relevan antara dua alternatif keputusan. keputusan yang diambil yaitu melihat hasil yang lebih efisien bagi perusahaan. perhitungan dilakukan dengan asumsi kegiatan perusahaan dalam satu tahun terakhir selama tahun 2010 apabila perusahaan memilih mempekerjakan sendiri dalam hal ini karyawan cleaning service dan juga pemberian uang makan siang dan apabila perusahaan memilih menggunakan outsourcing cleaning service dan juga catering. analisis biaya mempekerjakan sendiri (self hiring) tabel 1 menunjukkan data biaya relevan yang dikeluarkan perusahaan untuk mempekerjakan sendiri kegiatan penunjangnya. analisis efisiensi biaya..... (masruroh; dkk) 41  tabel 1 biaya mempekerjakan sendiri bidang cleaning service bidang cleaning service (self hiring) 2010 biaya (rp) biaya dalam satu tahun (rp) gaji per bulan 1,200,000 14,400,000 transport karyawan : (rp10.000 x 30hari) 300,000 3,600,000 seragam kerja karyawan 150,000 150,000 peralatan kebersihan 200,000 200,000 uang makan karyawan : (rp15.000 x 30hari) 450,000 5,400,000 biaya pelatihan karyawan 100,000 100,000 biaya recruitment karyawan 250,000 250,000 asuransi untuk karyawan 50,000 600,000 total biaya relevan : 24,700,000 sumber: data diolah biaya makan (catering) karyawan perusahaan selama ini memberikan uang makan siang bagi karyawan sehingga karyawan sendiri yang membeli makan siangnya ketika waktu istirahat. tabel 2 merupakan data biaya relevan yang dikeluarkan perusahaan untuk memberikan makan siang. tabel 2 biaya makan karyawan biaya makan karyawan 2010 biaya per bulan (rp) biaya dalam satu tahun (rp) biaya makan karyawan per bulan: (rp450.000 x 11 orang) 4,950,000 59,400,000 total biaya relevan : 59,400,000 sumber: data diolah perusahaan mengeluarkan biaya makan bagi karyawan sebesar rp59.400.000,00 setiap tahunnya. karyawan diberikan uang makan sebesar rp15.000,00 per orang setiap harinya (rp450.000,00 per bulan) dan juga waktu istirahat untuk makan siang. situasi tersebut membuat karyawan harus keluar untuk membeli sendiri makan siang dan tentunya menyebabkan berbagai hal. dampak negatif pertama adalah waktu makan siang karyawan menjadi tidak teratur karena karyawan harus keluar sendiri untuk membeli makan siangnya. sementara dampak negatif kedua adalah mengganggu proses kerja perusahaan jika karyawan terlambat kembali ke kantor setelah istirahat makan. sementara itu, dampak positif pertama karyawan dapat bebas memilih menu makan siang sesuai kebutuhan masing-masing. kedua, karyawan dapat keluar dari kantor untuk beristirahat. ketiga, karyawan dapat menentukan sendiri uang makan yang diberikan untuk makan siang atau disimpan untuk menambah penghasilan. analisis biaya penggunaan outsourcing berikut adalah data biaya relevan yang dikeluarkan perusahaan apabila menggunakan outsourcing dalam kegiatan penunjangnya. biaya outsourcing jasa cleaning service tabel 3 menunjukkan asumsi biaya relevan yang akan dikeluarkan perusahaan apabila perusahaan memilih menggunakan outsourcing jasa cleaning service. dalam hal ini perusahaan harus dengan teliti mempertimbangkan setiap biaya yang mungkin akan diperhitungkan. periode kontrak   42                                                                                journal the winners, vol. 15 no. 1, maret 2014: 34-46  sebaiknya ditentukan dari awal apakah secara mingguan, bulanan, atau tahunan. hal ini akan berpengaruh terhadap perhitungan biaya jika mempekerjakan sendiri. tabel 3 biaya outsourcing jasa cleaning service outsourcing jasa cleaning service 2010 biaya dalam satu tahun (rp) paket jasa dalam setahun : (rp1.500.000 x 12 bulan) 18,000,000 total 18,000,000 sumber: data diolah biaya outsourcing jasa catering tabel 4 merupakan asumsi biaya relevan yang akan dikeluarkan perusahaan apabila menggunakan outsourcing catering untuk memberikan makan siang bagi karyawan. dalam hal ini perusahaan harus memperhitungkan setiap biaya yang mungkin akan dikeluarkan. periode kontrak perusahaan sebaiknya ditentukan dari awal apakah secara harian, mingguan, atau bulanan. hal ini akan berpengaruh terhadap perhitungan biaya apakah memberikan uang makan atau menggunakan outsourcing jasa catering. tabel 4 biaya outsourcing jasa catering outsourcing jasa catering 2010 biaya (rp) biaya dalam satu tahun (rp) jasa paket per bulan rp360.000 x 11 orang 3,960,000 47,520,000 total: 47,520,000 sumber: data diolah total biaya yang dikeluarkan perusahaan apabila menggunakan outsourcing catering adalah sebesar rp47.520.000,00 setiap tahunnya. perusahaan catering tentunya memberikan menu makan siang dengan berbagi jenis pilihan menu yang bervariasi setiap harinya dan juga memenuhi standar gizi yang terdiri dari nasi, ikan, sayur, dan buah. menu makan yang diberikan juga terjaga kebersihannya sehingga karyawan tidak perlu takut untuk mengonsumsi makanan catering. ketepatan dalam pengiriman dan pengambilan paket catering, sehingga tidak perlu terjadi keterlambatan bagi karyawan untuk makan siang. tentunya, hal ini dapat mengurangi gangguan dalam pelaksanaan dan kinerja dari karyawan perusahaan. berdasarkan tabel 4, penghematan yang cukup signifikan bagi perusahaan dibandingkan dengan memberikan biaya uang makan bagi karyawan yang jumlahnya mencapai rp.59.400.000,00. perusahaan juga mendapat keuntungan dengan menggunakan outsourcing catering sebagai berikut. pertama, dengan disediakannya catering maka karyawan dapat langsung makan siang di kantor tanpa harus meninggalkan kantor. kedua, tentunya dapat mengurangi keterlambatan masuk setelah istiarahat makan siang karena karyawan tetap berada di kantor. ketiga, karyawan tidak perlu menghabiskan waktu untuk membeli makan siang di luar kantor. analisis efisiensi biaya analisis efisiensi biaya dilakukan dengan menghitung biaya relevan dari masing-masing alternatif yang ada untuk mengambil keputusan. perusahaan memiliki dua alternatif yaitu analisis efisiensi biaya..... (masruroh; dkk) 43  mempekerjakan sendiri karyawan bidang cleaning service dan memberikan uang makan siang atau perusahaan menggunakan outsourcing baik cleaning service untuk mengurus kebersihan dan juga outsourcing catering untuk penyediaan makan siang karyawan. keputusan yang diambil adalah berdasarkan alternatif mana yang lebih menghasilkan biaya yang paling rendah. tabel 5 menunjukkan data yang disediakan perusahaan apabila mempekerjakan sendiri atau menggunakan outsourcing. tabel 5 efisiensi biaya keputusan mempekerjakan sendiri (rp) keputusan menggunakan outsourcing (rp) efisiensi (rp) cleaning service 24,700,000 18,000,000 6,700,000 biaya makan/catering 59,400,000 47,520,000 11,880,000 total : 84,100,000 65,520,000 18,580,000 sumber: data diolah dengan demikian maka sebaiknya keputusan yang diambil oleh perusahaan adalah menggunakan outsourcing catering dengan penghematan setiap tahunnya rp11.880.000,00 dan outsourcing cleaning service dengan penghematan dan efisiensi biaya rp6.700.000,00. total efisiensi seluruh kegiatan penunjangnya apabila menggunakan outsourcing adalah sebesar rp18.580.000,00 yang didapat dari (a) rp.11.880.000,00 + rp.6.700.000,00 apabila melihat dari sisi efisiensi; dan (b) rp84.100.000,00 rp65.520.000,00 apabila melihat dari total biaya setiap alternatif mempekerjakan sendiri dan menggunakan outsourcing. analisis sensitivitas analisis sensitivitas ini dilakukan karena ada kemungkinan kenaikan biaya pada tahun berikutnya dengan berbagai asumsi kenaikan harga. pada 2011 kenaikan umr (upah minimum regional) dki jakarta menjadi rp.1.290.000 (charysa, 2013) sehingga perusahaan akan menyesuaikan gaji karyawan sesuai dengan umr yang ditetapkan pemerintah daerah. dengan kenaikan umr menjadi rp.1.290.000,00, maka perusahaan harus menaikan gaji karyawan cleaning service sebanyak 7.5% dari rp1.200.000,00. hal ini akan mengakibatkan kenaikan biaya relevan pada tahun berikutnya. asumsi analisis mempekerjakan sendiri (self hiring) tahun 2011 berikut asumsi biaya relevan yang dikeluarkan perusahaan untuk mempekerjakan sendiri karyawan cleaning service pada 2011. ada asumsi bahwa terjadi kenaikan kebutuhan bahan pokok pada 2011. tentunya hal ini akan mengakibatkan tuntutan kenaikan berbagai jenis biaya yang di keluarkan perusahaan bagi karyawannya. kenaikan yang terjadi tentunya akan berpengaruh terhadap perhitungan biaya yang akan dikeluarkan perusahaan untuk ke depannya. asumsi biaya mempekerjakan sendiri bidang cleaning service tahun 2011 asumsi biaya mempekerjakan sendiri kegiatan cleaning service pada 2011 yang akan dikeluarkan perusahaan selama satu tahun ditunjukkan dalam tabel 6. asumsi kenaikan adalah mengikuti kenaikan umr tahun 2011 yaitu sebesar 7.5% dan biaya relevan lainnya dengan asumsi kenaikan tahunan yang terjadi di indonesia. asumsi kenaikan biaya lainnya akan mengikuti kenaikan tahunan yang biasa terjadi di indonesia.   44                                                                                journal the winners, vol. 15 no. 1, maret 2014: 34-46  tabel 6 asumsi biaya memperkerjakan sendiri bidang cleaning service tahun 2011 asumsi kenaikan gaji 7.5% bidang cleaning service (self hiring) 2011 biaya (rp) biaya dalam satu tahun (rp) gaji per bulan naik 7.5% 1,290,000 15,480,000 transport : (rp15.000 x 30hari) 450,000 5,400,000 seragam kerja 200,000 200,000 peralatan kebersihan 220,000 220,000 biaya makan: (rp17.000 x 30hari) 510,000 6,120,000 biaya pelatihan 100,000 100,000 asuransi 55,000 660,000 total biaya relevan 28,180,000 sumber: data diolah asumsi biaya makan karyawan tahun 2011 berikut adalah asumsi biaya makan karyawan yang akan dikeluarkan perusahaan pada tahun 2011 selama satu tahun. asumsi perusahaan akan memberikan kenaikan biaya uang makan karyawan yang semula rp15.000,00 per orang dalam sehari menjadi rp17.000,00 per orang dalam sehari. kenaikan biaya makan karyawan menjadi rp510.000 atau rp17.000 per orang (naik rp2.000,00 yang pada tahun sebelumnya adalah sebesar rp15.000,00) dalam sehari disesuaikan dengan kenaikan kebutuhan bahan pokok dan kenaikan biaya atau upah makan yang biasa terjadi setiap tahun di perusahaan. hal ini menyebapkan perusahaan akan mengeluarkan total biaya untuk uang makan karyawan menjadi rp73.440.000,00 dibandingkan tahun lalu yang sebesar rp59.400.000,00 dalam setahun. asumsi analisis biaya penggunaan outsourcing tahun 2011 asumsi biaya relevan tahun 2011 apabila perusahaan menggunakan outsourcing dalam kegiatan penunjang. terdapat tiga skenario yang menjadi asumsi kenaikan biaya outsourcing yaitu: pesimis, dengan asumsi kenaikan biaya outsourcing per tahun adalah 10%; moderat dengan asumsi kenaikan biaya outsourcing per tahun adalah 7.5%; optimis dengan asumsi kenaikan biaya outsourcing per tahun adalah 5%. tabel 7 menunjukkan perbandingan biaya keputusan mempekerjakan sendiri dengan keputusan outsourcing berdasarkan 3 skenario. tabel 7 perbandingan biaya keputusan mempekerjakan sendiri dengan keputusan outsourcing berdasarkan 3 skenario sumber: data diolah keputusan mempekerjakan sendiri keputusan menggunakan outsourcing skenario kenaikan efisiensi biaya rp28,180,000 rp18,900,000 optimis: kenaikan 5% rp9,280,000 cleaning service rp19,350,000 moderat: kenaikan 7.5% rp8,830,000 rp19,800,000 pesimis: kenaikan 10% rp8,380,000 memberikan uang makan/catering rp73,440,000 rp49,896,000 optimis: kenaikan 5% rp23,544,000 rp51,084,000 moderat: kenaikan 7.5% rp22,356,000 rp52,272,000 pesimis: kenaikan 10% rp21,168,000 analisis efisiensi biaya..... (masruroh; dkk) 45  simpulan berdasarkan hasil pembahasan, dapat disimpulkan sebagai berikut. pertama, efisiensi biaya yang didapat oleh pt kuwera jaya atas keputusan alternatif mempekerjakan sendiri dan menggunakan outsourcing pada bidang cleaning service adalah sebesar rp6.700.000,00 yaitu dari selisih biaya mempekerjakan sendiri sebesar rp24.700.000,00 dikurangi biaya menggunakan outsourcing sebesar rp18.000.000,00. kedua, efisiensi biaya yang didapat oleh pt kuwera jaya atas keputusan alternatif mempekerjakan sendiri dan menggunakan outsourcing pada bidang catering adalah sebesar rp11.880.000,00 yaitu dari selisih biaya mempekerjakan sendiri sebesar rp59.400.000,00 dikurangi biaya menggunakan outsourcing sebesar rp47.520.000,00. ketiga, pt kuwera jaya layak memilih alternatif menggunakan outsourcing dalam kegiatan penunjangnya walaupun dengan adanya tiga skenario asumsi kenaikan harga yaitu skenario pesimis, moderat, dan optimis. saran berdasarkan simpulan yang ada, beberapa saran dapat diberikan. sebaiknya pt kuwera jaya segera menggunakan outsourcing dalam kegiatan penunjang baik di bidang cleaning service maupun catering karena akan jauh lebih menghemat uang perusahaan dibandingkan dengan mempekerjakan sendiri. pt kuwera jaya juga harus selalu memeriksa, mengawasi, menganalisis, dan mengetahui keadaan yang terjadi apabila sudah menggunakan outsourcing nantinya. selain itu, pt kuwera jaya juga memonitor kinerja karyawan outsourcing untuk memastikan bahwa standar kerja sesuai dengan kontrak kerja. terakhir, pt kuwera jaya memerhatikan kesejahteraan karyawan, baik karyawan tetap maupun karyawan outsourcing. daftar pustaka alma, b. (2003). kewirausahaan. bandung: alfabeta. blocher, e. j., chen, k. h., cokins, g. & lin, t. w. (2007). manajemen biaya. edisi ke-3 buku 2. jakarta: salemba empat. charysa, n. n. (2013). pengaruh pertumbuhan ekonomi dan inflasi terhadap upah minimum regional di kabupaten/kota provinsi jawa tengah tahun 2008–2011. economics development analysis journal, 2(4), 277–285. available http://journal.unnes.ac.id/sju/index.php/edaj/article/view/2489/2283 david, f. r. (2011). strategic management concepts and cases. 13th ed. new jersey: pearson education. faiz, p. m. (2007, 20 mei). outsourcing (alih daya) dan pengelolaan tenaga kerja pada perusahaan: tinjauan yuridis terhadap undang-undang nomor 13 tahun 2003 tentang ketenagakerjaan. diakses dari http://jurnalhukum.blogspot.com/2007/05/outsourcing-dantenaga-kerja.html horngren, c. t., datar, s. m., & foster, g. (2008). akuntansi biaya. jilid i. jakarta: erlangga. madura, j. (2007). pengantar bisnis. jakarta: salemba empat. quinn, j. b. & hilmer, f. g. (1994). strategic outsourcing. sloan management review, 35(4), 43–55.   46                                                                                journal the winners, vol. 15 no. 1, maret 2014: 34-46  sugiono. (2004). metode penelitian bisnis. edisi ke-6. bandung: alfabeta. suryana. (2008). kewirausahaan pedoman praktis, kiat, dan proses menuju sukses. edisi ke-3. jakarta: salemba empat. usry, carter, & thomson. (2004). akutansi biaya. edisi ke-13. jakarta: salemba empat. wirawan. (n.d.). apa yang dimaksud dengan sistem outsourcing? rubrik hukum teropong. http://www.pikiran-rakyat.com/cetak/0504/31/teropong/komenhukum.htm microsoft word 07_danang_rev2 the influence of brand relationship, brand satisfaction …… (danang prihandoko) 143  the influence of brand relationship, brand satisfaction, and perceived price towards brand loyalty in pt x’s customer, indonesia danang prihandoko school of business management, bina nusantara university jl. kebon jeruk raya no. 27, kebon jeruk, jakarta barat, 11530 dprihandoko@binus.ac.id abstract the goal of this research was to examine the influence of brand relationship, brand satisfaction, and perceived price towards brand loyalty by using multiple regression analysis. this research was a combination of qualitative and quantitative studies where the results of the questionnaire would be summarized and described in the form of tables and graphs. the result shows the three hypothesis that brand relationship and brand satisfaction have a positive influence towards brand loyalty meanwhile perceived price does not have a positive influence or less effect towards brand loyalty to all pt x’s customer. keywords: brand relationship, brand satisfaction, perceived price, brand loyalty introduction customer loyalty to the brand of product is a very important concept, especially in conditions of very tight competition with the low growth. on the other word, it is one of the most important structures in service marketing, due to its final effect on customer’s repeated purchase. and in fact, the customer will repeat purchase considered to what the benefit they will get to their business (caruana, 2002). on the conditions of such loyalty on brand is urgently needed so that the companies can survive. in addition, the effort of maintaining this brand loyalty is the best strategic effort that is more effective than the efforts canvassing new customers. this research conducts a preliminary survey to 30 people member of icma (indonesia club manager association), 35 people member of aspgi (asosiasi superintendent golf indonesia), 350 people member of ace (association chief engineering) and 50 people to all golf course in jabodetabek (jakarta, bogor, depok, tangerang, and bekasi) and bali which is customer of pt. x. thus, total questionnaires spread over as many as 465 questionnaires, however, the questionnaires that are received back to the researcher only 93 respondents by email or directly. according to cannon et al., (2008), a brand is a word, letter, or a group of words or letters. and also to make a different from competitor product and services which are offering to customers. this physical appearance can lead to the high or low perception in the customer’s mind (martinez, 2002). grewal & levy (2010) have said that brand association reflects customer’s perception regard to product and services. and it will make a different of the physical appearance of a product quality and durability (kotler, 2005). 144  journal the winners, vol. 17 no. 2, september 2016: 143-154  in addition, davies et al., (2003) have said that brand image would make the customer satisfied in order to be a part of their business. if they are satisfied with it, then they will be loyal to the brand even though they have an option to replace the brand in their business (in vinhas & faridah, 2008). in term of business relationship, the highly competitive market requires industry players to find a way to maintain the long-term relationship with their customers, which is called relationship marketing (rm) or some books called it as customer relationship management. relationship marketing is very crucial in service sectors because of its intangibility characteristic, which is difficult for customers to evaluate services visually. the success of relationship marketing activities can be translated into a good relationship quality between the customer and the service provider (hennigthurau, gwinner & gremler, 2002), which leads to customer’s loyalty. customer satisfaction is a key success factor to make customers have a desire to make repeat purchase (mittal & kamakura, 2001). furthermore, the satisfied customers will share their good experiences with our product and services (jamal & naser, 2002). the satisfaction that is felt by the customers has the consequences of behavior in the form of complaints and customer loyalty. if your organization or company can pay attention to everything that can shape the customer's satisfaction, then the satisfaction felt by customers as a whole is formed. regarding the price from a customer, perspective is what it will be given or sacrificed in the effort to obtain a product. from some research that has been conducted found that consumers are not always given the actual price of a product, but they look at the price, in their opinion, and those prices are categorized simply cheap or expensive. therefore, the prices used in this research are prices according to the consumer perspective or perceived price. the loyal customer has the important role in the company's success. loyal customers are a source of revenue for the company because it will make repeat purchases and increase sales, thereby reducing promotional costs for companies which will increase the company's profits. the result of a successful customer loyalty strategy leads to customer retention. depending on the industry, an improvement of 5% in customer retention leads to an increase of 25% to 85% in profits (kerin, hartley, & rudelius, 2009). furthermore, firms spend more than five times as much to obtain a new customer than to retaining an existing one (kotler & keller, 2006). brand loyalty shows that there is a bond between customers with certain brands and is often characterized by the presence of customer purchases. mowen (2002) has suggested that loyalty can be based on actual purchase behavior of products associated with the proportion of the purchase. the high brand loyalty can increase sales. and it can attract new customers to buy because they have believed that buying a good brand of products will reduce the risk. another advantage is the company may more quickly respond competitors movement. methods refer to previous studies and some studies, the theory described on the previous page and also based on the background issues and the formulation of the problem of the study; the researchers determine the four variables into design research which will be discussed in this article. as for these variables, researchers want to see how big the influence that occurred between those variables. there is an important dimension that supported the power of relationship marketing can lead to brand loyalty. in connection, brand loyalty refers to the favorable attitude toward a brand other than the influence of brand relationship, brand satisfaction …… (danang prihandoko) 145  buying it repeatedly by the customer. customers tend to be loyal because there is relationship marketing. customers will continue to try different kinds of brands before finding the brand that really fit. customer satisfaction will still constitute a very important part in the brand loyalty. brand loyalty is usually result in repeat buying and recommended buying. customer satisfaction needs to be maintained and enhanced in order to create and maintain loyalty towards the brand. when customers obtain satisfaction from the purchase of a product, then it will create a positive attitude towards the brand so that customers will make a purchase. if the selected brand can satisfy customer’s needs and desires, then customers will have a memory about that brand. the natural state of this kind of customer loyalty will begin to arise and develop. so in the next purchase, customers will choose products with the brand that have given their satisfaction. based on the above description, it can be inferred that more satisfied a customer, then the customer will be more loyal to the brand. it points out that from the perspective of the customer; the price is a matter of what is given in an attempt to acquire a product. the price becomes the actual price of a product and price according to the customer. customers are not always given the actual price of a product, but they see the prices according to their opinions and for those prices, it is only categorized cheap or expensive. having loyal customers, the companies can maximize their profits. loyal customers are willing to purchase more frequently, trying the firm’s new products or repurchasing intention, and recommending the products and services to others and give companies suggestions. for this study, a conceptual model is presented in figure 1. customer loyalty includes word-of-mouth, price insensitivity, repurchase intention, and complaint behavior. figure 1 conceptual model this research is a combination of qualitative and quantitative studies where the results of the questionnaire will be summarized and described in the form of tables and graphs.   h1 : there is the influence of the brand relationship towards to brand loyalty on the pt x product.  h2 : there is the influence of the brand satisfaction towards to brand loyalty on the pt x product. h3 : there is the influence of the perceived price towards to brand loyalty on the pt x product. data processing is used to discuss, research, formulate, and solve the problem. the types of data in this study are data subjects i.e. research data in the form of opinions, attitudes, experiences, or characteristic of a person or a group of people who become the subject of the respondents. brand relationship brand satisfaction perceived price brand loyalty h1 h2 h3 146  journal the winners, vol. 17 no. 2, september 2016: 143-154  the object of the research is the customers who already have a product pt x. the sample of this research is taken from 97 pt x’s customer who have used the product for more than one year, with gender male and female. an interest in the title of this study which is from each customer will be taken 4 respondents for research purposes, so that the total sample is 4 x 97 = 388 samples. in determining the magnitude of the samples taken in a research, then the calculation of the number of samples can be done with the formula slovin:                   (1) where: n = sample n = population e = percentage error is desirable (usually 10%)   based on the above formula, then the samples taken are set  at least 80  respondents. the technique of sampling in this study by using techniques  convenience of non  random sampling. the number of respondents are pt x’s customers  are 50 respondents,  executive board organizations icma has  30  respondents,  executive board  organization aspgi  has 35 respondents,  executive board organization ace has 350 respondents. so the total questionnaires presented by the researchers are 465 questionnaires either arriving directly or sent by email. this research uses a construct validity method of correlation meyer-kaisser-olkin measure of sampling adequacy wherein the value of the msa received values are more than 0,5 and the study also uses the bartlett's test with significant value p = 0,000. kaiser-meyer-olkin (kmo) test is a measure of how suited your data for factor analysis. the test measures are sampling adequacy for each variable in the model and the complete model. the statistic is a measure of the proportion of variance among variables that might be common variance. the lower the proportion, the more suited your data to factor analysis. bartlett's test is used to test if k samples have equal variances. equal variances across samples are called homogeneity of variances. some statistical tests, for example, the analysis of variance, assume that variances are equal across groups or samples. each variable used kmo-msa is greater than or equal to 0,50 with the significance value is 0,000, hence the variable can be said to be valid and can be used for this research. reliability test is regarded to the accuracy, consistency, and predictability of a measuring instrument. reliability test measures by using cronbach's alpha to find out whether the instruments used in this research related or not, with a value of alpha > 0,06. the basic decision makes this reliability test as follows (a) if the coefficient cronbach's alpha ≥ 0,60 then cronbach's alpha is acceptable (construct reliable), (b) if cronbach's alpha < 0,60 then cronbach's alpha is poor acceptable. the influence of brand relationship, brand satisfaction …… (danang prihandoko) 147  the collected data are analyzed using multiple regression analysis method. the purpose of it is to predict the value of a dependent variable (y) when the independent variable (x) two or more. in this study researchers would like to know the influence of 3 (three) independent variable x (brand relationship, brand satisfaction, and perceived price) against 1 (one) dependent variable y (brand loyalty). hypothesis testing to answer the question in this research, where the terms of the results of hypothesis testing as follows:   p value ≤ α (0,05), ho is rejected p value > α (0,05), ho is not rejected level of significant (α = 0,05) table 1 variable examined dimensions variable name questions brand relationship a1 clubcar always honest and sincere in meeting my needs and the company a2 clubcar always in touch with me by providing the latest product information a3 clubcar sales person always visiting us once a month a4 if it is necessary to communicate with the top level in clubcar very easy because of the friendliness and openness a5 we will always keep long term cooperation relationship with clubcar perceived price a6 competitor price always be a benchmark in purchase decisions of clubcar product a7 clubcar price is in accordance with your expectations a8 is it pt x give you a flexible price at any given time? a9 clubcar price we offer is cheaper than competitor a10 clubcar product can be used by all business segments brand loyalty a11 i will faithfully use clubcar product a12 because there are limitations in me considering buying different products other than clubcar product a13 if the spareparts in pt x has run out , then i will buy the product elsewhere a14 even while the other brands are doing promotion for their product, i would prefer clubcar brand a15 i will recommend the clubcar brand to others company brand satisfaction b1 clubcar product reliability b2 how pt x employee services b3 clubcar product technology b4 handling warranty claim provided by pt x employee b5 spareparts clubcar durability b6 comfort and convenience driving clubcar product b7 knowledge and professionalism of pt x employees b8 speed of response or feedback from pt x employee to you b9 pt x solve the problem of the clubcar products b10 overall satisfaction with clubcar products 148  journal the winners, vol. 17 no. 2, september 2016: 143-154  results and discussions data processing results of the descriptive statistics of the variables examined would elaborate on the results of an analysis of the hypotheses that have been done on this research. in this study, researchers have been spreading 465 questionnaires via email and directly, but the authors have received back only 93 questionnaires either via email or directly. if the value of kmo is greater or equal to 0,50, then those variables can be said to be valid. table 2 shows the results of the test of validity. table 2 validity of the test results kmo description loyality 0,605 valid brand relationship 0,673 valid price 0,655 valid brand satisfaction 0,789 valid the variable is said to be reliable in reliability test, if the the value of cronbach's alpha is greater than 0,60. it can be seen in table 3.  table 3 realibility of the test result cronbach’s alpha description loyality 0,721 reliable brand relationship 0,711 reliable price 0,786 reliable brand satisfaction 0,861 reliable all the dimensions of a variable are said to be reliable with a value of cronbach's alpha respectively that more than 0,60. but in the dimensions of loyalty, variable a12, a13 and a6 on the table 1 must be excluded from the calculation because it is not reliable. based on the classification of the position, as much as 44,57% of total respondents are in the position of director/manager level, 41,30% of respondents are in staff/admin level position, and the remaining 14.13% of respondents are in position level of mechanic/engineer. the percentage of respondets’ profile based on their position in the company can be seen in figure 2. based on the classification of the industries, as many as 76,09% of total respondents are in the golf industries such as indonesia club manager assosiation (icma). all of the members in icma are director or general manager in golf industries and all the members of asosiasi superintendent golf indonesia (aspgi) are superintendent in golf industries. the remaining 17,39% respondents are in hospitality industries and 7,61% respondents are in other industries. the percentage of respondents’ profile based on the classifiication of the industries can be seen in figure 3. the influence of brand relationship, brand satisfaction …… (danang prihandoko) 149  1,33% 5,33% 72% 21,33% government pma pmd private 20,65% 25% 54,35% < 10 u n i ts 10 50 u n i ts > 50 u n i ts figure 2 the profile of respondents based on the position in the company figure 3 the profile of respondent based on the classification of industries based on the classification of the ownership company, 72% of respondents come from the private companies, 21,33% of respondents come from the regional companies, 5,33% of respondents come from the foreign companies, and 1,33% of them are from government. these percentage can be seen in figure 4. as much as 54,35% of the respondents have more than 50 units. this indicates that their opinions be a great help for the company progress. while 20,65% of the respondents have 10-50 units, and the remaining 25% of the respondents have less than 10 units. it can be seen in figure 5. descriptive statistics is the elaboration of the answers of the respondents in the form of the minimum value, the maximum value, the average value (a mean), and the standard deviation of each statement to answer the influence of brand relationship, brand satisfaction & perceived price towards brand loyalty on customers pt x. table  4  shows the results of processing of descriptive statistics based on 93 questionnaire that is successfully collected. 0.00% 20.00% 40.00% 60.00% 80.00% golf others figure 4 the profile of respondent based on the classification of the ownership company  figure 5 the profile of respondent based on the number of units owned 150  journal the winners, vol. 17 no. 2, september 2016: 143-154  table 4 descriptive statistics variable n = 93 respondents min max mean std dev brand loyalty 2,33 5,00 3,84 0,48 brand relationship 2,40 5,00 3,71 0,53 perceived price 1,50 4,50 3,21 0,70 brand satisfaction 2,60 4,80 3,86 0,39 table 4 reflects the tendency of respondents in answering the questionnaires submitted that contain among others; minimum, maximum, mean, and standard deviation. on measurement indicators regarding brand loyalty is retrieved the value of the mean of 3,8 with a minimum value is 2,33 and the value of maximum is 5,00. previously the respondents are asked to answer the questions by using likert scale 5 the values 1 through 5. value 1 indicates strongly disagree while value 5 indicates strongly agree. this indicates that the respondents consider that the clubcar brand has fulfilled the expectations for them with a standard deviation of 0,48. the analysis is using spss program. the methods used in the multiple regression analysis are a stepwise method by entering one by one to get the right model. the stepwise method produces two models. first model does not include variable pri (perceived price) and sat (brand satisfaction), in other words, in model 1 there are constants and variables rel (brand relationship) as a predictor variable towards loy (brand loyalty). table 5 stepwise method output the model 1 is shown in table 5; this variable is obtained by pri that has a value of sig. 0,907 or greater than 0,05. this data shows that pri does not have significant effects towards loy. however, variable sat has sig. 0,017 or brought 0,05, which means has a significant influence on sat towards to loy. for model 1, it is less precise because it does not include variable sat that have the influence on the dependent variable loy. on the second model, it does not include variable pri so that on the model 2, there are constants, variable rel, and sat as a predictor variable towards loy. variable pri has a value of sig. 0,895 (greater than 0,05), then it has no significant influence of the variable pri towards variable loy. thus, this exact model 2 is used as the model regression because it does not involve variables that do not have the significant effect on dependent variable loy. data on the results of testing goodness of fit are used to look at the suitability of the regression models or see how the magnitude of the ability of the brand relationship and brand satisfaction variable in explaining the variance of the brand loyalty variable. figure r-square is also known as the coefficient of correlation of determination. it can be seen in table 6. model beta in t sig partial correlation collinearity statistic tolerance 1 pri 0,017 0,117 0,907 0,12 0,351 sat 0,327 2,438 0,17 0,25 0,384 2 pri -0,19 -0,133 0,895 -0,14 0,347 the influence of brand relationship, brand satisfaction …… (danang prihandoko) 151  table 6 summary of goodness of fit test model r r square adjusted r square std error of the estimate 1 0,586a 0,344 0,336 0,39326 2 0,620b 0,385 0,371 0,38288 a. predictors : (constant), rel b. predictors : (constant), rel, sat in table 6, in model 2, the magnitude of the numbers r-square = 0,385 or equal to 38,5%. it is 38,5% variance explains that brand loyalty can be explained by the brand relationship and brand satisfaction. the rest i.e. 61,5% (100%-38,5%) to be explained by other variable factors outside the model regression. data analysis of test results multiple linear regression can be seen in table 7. the purpose of hypothesis testing is to reject the null hypothesis (ho) thus the alternative hypothesis (ha) could be accepted. it can be done by looking at the value the significant of each relationship. as for fault tolerance limits (α) used is 5%. if the p-value α < p < 0,05 or there are significant effects between independent variables against the dependent variable. as summary table to hypothesis testing in accordance with the objectives of this research can be seen in table 7. table 7 summary the results of the hypothesis test hypothesis β t sig remark brand relationship  brand loyalty 0,330 2,457 0,016 ho reject perceived price  brand loyalty -0,019 -0,133 0,895 ho do not reject brand satisfaction  brand loyalty 0,327 2,438 0,017 ho reject the first hypothesis test arranged as follows :   ho1 : there is no influence brand relationship towards brand loyalty   ha1 : there are influences brand relationship towards brand loyalty  the results obtained show that the value of t is 2,457, level of significance = 0,016 which is smaller than 0,05 (p < 0,05) and β = 0,330; ho1 is rejected and then ha1 is accepted. this shows that there is the influence of brand relationship towards brand loyalty. the beta value positive 0,330, it means that brand relationship provides positive influence towards brand loyalty. the second hypothesis test arranged as follows:   ho2 : there is no influence of perceived price towards brand loyalty ha2 : there is the influence of perceived price towards brand loyalty the results obtained show that the value of t = -0,133 and level of significance = 0,895, means is greater than 0,05 (p < 0,05) and β = -0,019. ho2 does not reject and then rejected ha2. this suggests that there is less influence perceived price towards brand loyalty. although beta value is negative (-0,019), it means that there is a negative influence perceived price towards brand loyalty, but the magnitude of the influence that the minor can be said there is no significant influence. 152  journal the winners, vol. 17 no. 2, september 2016: 143-154  the third hypothesis test arranged as follows: ho3 : there is no influence brand satisfaction towards brand loyalty ha3 : there are influences brand satisfaction towards brand loyalty the results obtained show that the value of t is 2,438 with level of significance = 0,017, which means that is smaller than 0,05 (p < 0,05) and β = 0,327. ho3 is rejected and then do not reject ha3, it means that there is the influence of brand satisfaction towards brand loyalty. the beta value positive is 0,327, it means brand satisfaction provides positive influence towards brand loyalty. it has been explained previously that the regression model used is model 2, in this case, the brand relationship and brand satisfaction as predictor towards brand loyalty. perceived price is removed from the model 2 due to not affect brand loyalty in a significant way. so, the regression equation from the model is: loy = const + a*rel + b*sat (2) table 8 the regression equation at table 8 in model 2, the obtained values of beta (constant) is 1,153, where the beta values are constants regression equation of constituent. beta values (rel) = 0,302 is the coefficient of the variable rel, and the value of beta (sat) = 0,409 is the coefficient of the variable sat. so that the regression equation is obtained as follows: loy = 1,153 + 0,302*rel + 0,409*sat (3) for the value of 1,153 without rel and sat, the value of the loy is 1,153. for the value of 0,302 *rel: any increase in rel 1,00 point then rel contributes to the value of loy 0,302. while for the value of 0,409 * sat: any increase in sat 1,00 point then sat contributes to the value of loy 0,409. conclusions on the results of the descriptive analysis based on the high value of the mean of each variable that given in questionnaire, it shows that loyalty respondents are more affected because of the comfort in driving and the desire of the respondent to establish a long term relationship with pt x. in hypothesis testing shows the existence of a significant positive influence between brand relationship and brand satisfaction towards brand loyalty. with multiple regression test results obtained so that model unstandardized coefficients standardized coefficients t sig. collinearity statistics β std. error β tolerance vif 1 (constant) 1,856 0,293 6,335 0,000 rel 0,538 0,078 0,586 6,863 0,000 1,000 1,000 2 (constant) 1,153 0,406 2,840 0,006 rel 0,302 0,123 0,330 2,457 0,016 0,384 2,602 sat 0,409 0,168 0,327 2,438 0,017 0,384 2,602 the influence of brand relationship, brand satisfaction …… (danang prihandoko) 153  the value of significance independent variables (brand relationship and brand satisfaction) is smaller than the value of the probability. and the value t calculate is greater than t table with positive beta values so that the test of two independent variables hypothesis (ho) is rejected. as for testing the independent variable (perceived price) obtained the value of significance which is greater than the value of the probability and the value t calculate is smaller than the t table so that the hypothesis test (ho) do not reject. based on the results of testing perceived price variable towards brand loyalty variable, it turns out that the price of clubcar is not a thing that is very influential in the decision-making process of purchasing a new golf car or switching the other brand. while on the goodness of fit test obtains 38,5% variance result that brand loyalty can be explained by the brand relationship and brand satisfaction where 34,4% variance that is explained by variable brand relationship and 4.1% (38,5% 34,4%) variance explained by variable brand satisfaction. the rest 61,5% variance is explained by other variables in the regression model. from these explanations, it can be concluded that the perception of the customer regarding the product of pt x in accordance with what they expect and it makes them loyal always to use the product. from the results of the analysis and the conclusions that have been done in this study, it is expected to be the input and reference for company pt x in determining the strategy to create a brand that serves to provide a defense against the brand will be his credibility in the eyes of the customer. in creating a brand loyalty, many factors influence among others, brand relationship and brand satisfaction. brand loyalty is an accomplishment earned by firms from the success of the creation of a brand in customers’ eye so entwined a deep commitment to buy back or become a customer that remains a preferred product on a consistent basis in the future. this commitment leads to a recurring purchase against the same brand, although situational influences and marketing efforts have renewed or likely to result in a change in behavior. it is the descriptions of a product that created a company to assure its customers that the products they produce have good quality. this action can be done by providing good service and keeping in touch with customers, and at the end, it can provide benefits. the expectation in the forthcoming research that there can be combined with other studies, as well as by adding variables that can support and extend knowledge of the context. in terms of the relationship between the companies with customers, as follows, the communication link should be kept by the company for the achievement of customer satisfaction and customer loyalty towards products. based on the test results, it can be seen that clubcar customers will always be the long term cooperation relationship with pt x. in regards to perceive price views based on the answers to the questionnaire that given to the customer, pricing flexibility to customers are retained by granting waivers to customers in terms of term of payment. beside that, it can be done by help to provide data to company financing convenience customers in running its business processes. in terms of satisfaction, it can be seen based on the results of a questionnaire that is distributed. it provides the information to the factory in america about the quality of the spare parts that are often damaged in order to provide better quality again. while in terms of the loyalty, it needs to manage customers who have been loyal towards the clubcar with support needs of customers in the running of its business processes. 154  journal the winners, vol. 17 no. 2, september 2016: 143-154  references cannon, j. p., perreault, w. d., & mccarthy, e. j. (2008). basic marketing a global managerial approach. singapore: mcgraw-hill. caruana, a. (2002). service loyalty: the effects of service quality and the mediating role of customer satisfaction. european journal of marketing, 36(7), 811-828. davies, g., chun, r., dasilva, r., & roper, s. (2003). corporate reputation and competitiveness. london: routledge. grewal, d., & levy, m. (2010). marketing (2nd ed.). new york: mcgraw-hill. hennig-thurau, t., gwinner, k. p., & gremler, d. d. (2002). understanding relationship marketing outcomes: an integration of relational benefits and relationship quality. journal of service research, 4(3), 230–47. jamal, a., & naser, k. (2002). customer satisfaction and retail banking: an assessment of some of the key antecedents of customer satisfaction in retail banking. international journal of bank marketing, 20(4), 146-160. kerin, r. a., hartley, s. w., & rudelius, w. (2009). marketing (9th ed.). boston: mcgraw-hill irwin. kotler, p. (2005). manajemen pemasaran 1 (edisi kesebelas). jakarta: pt prenhallindo. kotler, p., & keller, k. l. (2006). marketing management (12th ed.). upper saddle river, nj: prentice hall. martinez, e. (2004). the effect of brand extension strategies upon brand image. journal of consumer marketing, 21(1), 39 – 50. mittal, v., & kamakura, w. a. (2001). satisfaction, repurchase intent, and repurchase behavior: investigating the moderating effect of customer characteristics. journal of marketing research, 38(1), 131-142. mowen, j. c., & minor, m. (2002). perilaku konsumen. jakarta: penerbit erlangga. vinhas, d. s. r., & faridah, s. a. s. (2008). online corporate brand image, satisfaction, and loyalty. journal of brand management, 16(3), 119−144. microsoft word 02_maya syahrial_setting_ok indonesian tourists’..... (ismayanti; dkk) 11 indonesian tourists’ preferences influence of conscious and unconscious motives ismayanti1; ina djamhur2; levyda3 1,2,3universitas sahid jakarta, jln. prof. dr. soepomo sh no.84 tebet, jakarta selatan 12870 maya.syahrial@gmail.com abstract motivation is the foremost variable to explain the travel preferences. it is identified that there are two motives of travelling: inner intention as the unconscious motives and outer magnet as the conscious motives. inner intentions derive from tourists’ mindset and push the actor to perform. outer magnet is created by destination (tourism supplier, operators, hotelier etc.) to pull the customers. from 331 respondents in jakarta (capital city) and bandung as tourist generating regions in indonesia showed that there are partial element of inner intention that encourage indonesian to travel: religiousness and leisure time, and there are collective element of outer magnet that fascinate indonesian tourist: cultural attraction and activities, outrange between domicile region and destination, and sophisticated amenities. keywords: motivation, travel, tourist domestic abstrak motivasi adalah variabel penting untuk menjelaskan pilihan lawatan. terdapat dua motivasi lawatan, yaitu intensi dalam diri individu sebagai motivasi bawah sadar dan magnet luar sebagai motivasi dalam sadar. magnet luar termasuk tujuan (agen turisme, operator, pengurus hotel, dan sebagainya) untuk menarik pelanggan. dari 332 responden di jakarta (ibukota) dan bandung sebagai kota tujuan turis di indonesia menunjukkan bahwa terdapat elemen pemisah dari intensi dalam diri individu yang mendukung penduduk indonesia untuk berlawatan adalah agama, waktu luang, dan ada unsur dari magnet luar yang mempesona turis domestic: aktivitas dan atraksi budaya, jarak antara lokasi domisili dan tujuan, dan fasilitas penunjang yang canggih. kata kunci: motivasi, lawatan, turis domestik 12 journal the winners, vol. 12 no. 1, maret 2011: 11-23 introduction tourism has function to fulfil the body, soul and intellectual desire by recreation and travelling. tourism has become the member of human basic need; place it side by side with daily needs such as food, clothing and housing. the government of indonesia put effort to perform those function by implementing the decree of designating public holiday and collective leave since 2008. collective leave was aimed to focus on work productivity and boosting the country’s tourism industry. to compensate, they should work extra hours on other days. as part of the government’s efforts to attract visitors, the country improve awareness and build enhanced relations with potential destinations. airport renovation is underway, together with facilities development from the private sector. as a result, the country witnessed significant growth of arrivals, albeit in business and leisure tourists. however, as the various tourism initiatives are to be followed by fast and effective improvements to buildings and the tourism infrastructure, revolutionary changes are seen in reverse. the decree was misinterpreted by the indonesian. the designating public holiday and collective leave triggers more the outbound travel rather than domestic travel. the intentions to travel abroad raise, number of outbound trips and spending increase as shown in table 1. table 1 fact of domestic travel and outbound tourist indonesia year 2001 to 2008 source: bps (2009) and p2sdj (2009) the tourism industry is concerned with the fact, but yet they do not fully understand the cause. it is the purpose of the research to reveal the main motives of travelling: inner intention as the unconscious motives and outer magnet as the conscious motives of indonesia tourist, so destination (operator, hotelier) should redesign and rebranding their product. tourism and domestic tourist tourism is a unique phenomenon. the concept of tourism is complicated and can be viewed from various perspectives. in indonesia, the act number 10 years 2009 regarding tourism has been ratified as follows: (1) tourism is the travel activities done by a person or a group to visit certain destination with the purpose of recreation, self-improvement or study the uniqueness of tourist attraction in temporarily; (2) a tourist is a person doing the travel activities; (3) tourism industry consists of various activities and supported by facilities and services, provided by community, entrepreneur, government and local government. tourism consists of three main elements (cooper et.al, 2005), they are tourist, geographical element, and tourism industry. year domestic traveller total expenditure outbound tourist total spending (thousand) (billion idr) (thousand( (million usd) 2001 103,884 58.7 n.a n.a 2002 105,379 1.4% 68.8 14.7% n.a n.a 2003 110,030 4.2% 70.9 2.9% 3,769 3,450 2004 111,353 1.2% 71.7 1.2% 4,270 11.7% 3,672 6.0% 2005 112,701 1.2% 74.7 4.0% 4,806 11.2% 3,286 -11.7% 2006 114,391 1.5% 88.2 15.3% 5,041 4.7% 3,920 16.2% 2007 116,107 1.5% 108.9 19.0% 5,158 2.3% 4,331 9.5% 2008 117,213 0.9% 123.2 11.6% 5,312 2.9% 5,577 22.3% average 1.7% 9.8% 6.5% 8.5% indonesian tourists’..... (ismayanti; dkk) 13 tourist he or she is the actor of travel activities and he or she obtains the experience and satisfaction from the trip. geographical element the movement of tourist occurs in geographical coverage, they are (1) tourist generating area (tga) is the area where the tourist comes from and done their daily activities such as working, schooling and other basic needs, and it motivates them to get away from their routines; (2) transit area (ta), not all travelers stop-over or transit in a certain area but they definitely pass the transit region. often the trip is diverted and ended in transit area, not in the tourist destination. many transit countries perform its multi functions. they improve the accessibility and amenities to convert their function as from a hub to a destination; (3) tourist destination region (tdr) is the finish line of the journey. it is the main of travel purpose. destination is the raison d’être of the tourism, offers variety of excitement other than everyday activities. each destination should have uniqueness and provide a certain level of quality to meet the tourist’s expectation. the impact of tourism on economics, social culture and physical environment occur in destination, thus, it is important to have a proper tourism planning and strategic management. tourism industry the third element in tourism system is the industry itself. the industry provides products and services, attractions and activities, accessibilities and amenities. all make available to cater the need and wants (gunn, 1995). based indonesia tourism act, there are 13 key players in the tourism industry: tourist attraction, resort, transportation services, tour operators, food and drink establishment, accommodation, recreation and entertainment centre, conference organizers, exhibition organizer, incentive travel house, information centre, tourism consultant, tour guide, water recreation park and spa. un-wto (gee, 1997) classify the tourism into two boundaries, they are domestic tourism and international tourism. domestic tourism domestic or internal tourism is the activity of people visiting destinations within their own country's boundaries. it is the travel within one’s country border line outside their home region with the purpose of pleasure, not working. the actor is called domestic tourist. international tourism international or overseas tourism is the travel across one’s country border line beyond their home region with the purpose of pleasure, not working. it is the activity of people visiting destinations outside their own country's boundaries. the actor is called international tourist. there are two types of international tourism; they are inbound tourism and outbound tourism. inbound or incoming tourism occurs when foreigners visit other country. it is the tourism of non-resident visitors within the economic territory of the country of reference. incoming tourism is a valuable source of income for the country and the local economy, because they do not just spend money for the hotels and attraction, but also the benefit from the spending power of tourists to community. money spreads out to benefit all sorts of local people. 14 journal the winners, vol. 12 no. 1, maret 2011: 11-23 outbound tourism. outbound or outgoing tourism is the tourism of resident visitors outside the economic territory of the country of reference. as the opposite of inbound tourism, the outgoing tourism becomes a threat of one’s country balance of payment. it is a leakage source of income for the country and the local economy, because they spend money for the meals and transportation to other nations. tourist motivation motivation is a sum of behaviour process to achieve particular goals. motivation derives from an attempt to fulfil needs on certain level of intensity. if someone has personal desire and he or she aware that his or her desire should be accomplished; there will be an inner force to act. motivation emerges from expectation and it can be attained by efforts. every tourist has travel motives. swarbrooke & horner (1999) identified five main factors differentiate travel motivation: personality, lifestyle, past experience, perception, and image. personality it is a complex of all the attributes, consists of behavioural, temperamental, emotional and mental, that characterize a unique individual. it is a person of considerable prominence, is he an active or passive tourist? is she an adventurer or careful person? is he an open-minded or a close-minded? is she a planner or a go-show tourist? lifestyle lifestyle is a manner of living that reflects the person's values and attitudes. there are individuals who always want to experience differently from other people. there are individuals want to travel to fashionable destination. there is environmental friendly tourist. there are tourists who travelling to search novelty. there are people to want to meet other people, or having fun, or contemplate his or herself. past experience most of tourist paid attention to past experience and it forebode the next travel planning. the positive past experience may bring people to repeat the trip, on the other hand, the previous negative incident may lead to unrepeated journey or even tourist will try to avoid the risk. perception it is a way of tourist in conceiving something from the surrounding information. perception in tourist mind describes the process whereby sensory stimulation is translated into organized experience. perception is the effect of perceiving the promotional material from the tourism industry such as advertisement, tour package brochure, friend’s recommendation, etc. perception emerge the strength and the weakness of tourist motivation, the physical and the psychological set of tourist to travel. image it is a representation of a something. it explains how a tourist wants to be seen and treated by others. image is closely related with expectation. positive image may drive tourist to visit the destination, on contrary, negative image may drive tourist away from destination. all above factors transform lined up with individual changes and trends, for example, if a woman has a family or meet her soul mate, or if there is a raise in income or a declining heath, the behaviour as tourist will change. indonesian tourists’..... (ismayanti; dkk) 15 conscious and unconscious motives of travel tourist motivation is a translation of tourist needs and wants. the feeling of dissatisfaction is the starting point and it comes from conscious and unconscious reasons. lack of something forces a person to act and the action should aim to reach a particular expectation. if the expectation is met, the feeling of satisfaction comes to mind; the process of motivation is done but keep on cycling. human never feel fully satisfied and they keep on searching for unlimited expectation. the dissatisfaction feeling is taken place by intrinsic and extrinsic motivation (kotler, 2006). the intrinsic motivation comes from inside tourist’s mind. it is the action which is essential and specific to that thing, and which is wholly independent of any other consequence. often the intrinsic factors unconsciously push someone to do his or her activities beyond his or her ability. some tourist prefers activities with the reasons for it are not available in the individual's conscious mind such as diving with dangerous sharks, bungee jumping without safe guard. meanwhile the extrinsic motivation comes from outside environment. it provides satisfaction and pleasure that the task itself may not provide. the extrinsic motivation such as destination campaign is intentionally created by operator to activates and energizes tourist toward his or hers goal-oriented behaviour in travelling. it is consciously produced to motivate tourists. the conscious and unconscious motivation can also fit to hierarchy of need (cooper et.al., 2005; ritchie & goeldner, 2003; swarbrooke & horner, 1999; mill, 1992; ross, 1990). the basic assumptions of theory are: (1) human always has need which derives from dissatisfaction of past achievement; (2) the human needs can be compiled and arranged based of the hierarchy of importance. there are five stages of human needs which can be related to conscious and unconscious travel motives. motivation allows tourist to make travel decision and the motives may be comprised from elements such as (1) tourism is the response of unfulfilled desire; (2) destination attraction is the reaction of the motivation; (3) motivation is a fantasy and a dream; (4) motivation always has purposes which end to satisfaction and dissatisfaction; (5) motivation and experiences are in separated; (6) motivation has its own meaning to every tourist.those elements come from two strong determinants (cooper, 2005), push factors and pull factors. the inner drives as push factors derive from psychological aspects or self-centred. often it is unconscious motive. on contrary, the outer direct as pull factors explain why people travelling. the reasons can be varied such as novelty, exploration, social interaction, etc and mostly are conscious motive. methodology as the research purpose is to reveal the main motives of travelling: inner intention as the unconscious motives and outer magnet as the conscious motives of indonesian tourist, the framework of research is drawn in figure 1. figure 1 the framework of conscious and unconscious motives of tourists’ preferences 16 journal the winners, vol. 12 no. 1, maret 2011: 11-23 the variables of inner intention as unconscious motives (cooper, 2005; ritchie & goeldner, 2003; ryan, 1997; kotler, 2006) are as follows: (1) desire, there are psychological and physiological reasons that motivate people to travel, there are seven instinctive reasons to get away; (2) willingness, an opportunity to fulfil the desire, consists of: availability of leisure time and sufficient travel financial. whilst, the variables of outer magnet as conscious motives (cooper, 2005; gunn, 1995; page, 2007; ritchie & goeldner, 2003; ryan, 1997) are (1) attractions and activities such as naturebased, culture-based andspecial interest; (2) accessibilities such as the ease of transportation trip and distance; (3) amenities such as sophisticated facilities and well-equipped infrastructures. all endogenous and exogenous variables can be seen in table 2. table 2 research operational variables motives exogenous variables endogenous variables inner intention as unconscious motives desire 1. excitement 2. exploration 3. health 4. prestige 5. religious 6. self-improvement 7. social interaction willingness 8. leisure time 9. travel financial outer magnet as conscious motives attractions & activities 1. nature-based 2. culture-based 3. man-made accessibilities 4. ease of transportation 5. trip intensity 6. distance amenities 7. sophisticated facilities 8. well-equipped infrastructures data and methods data and information are collected and compiled from two sources: primary data and secondary data. primary data is composed from field survey using closed questionnaires, conducted in two cities, jakarta and bandung, in certain meeting point such as airports, train stations, hotels and tourist objects. secondary data is the accumulation of information in form of statistical data, directory of tourist objects and amenities, and library research. the samples are the indonesia citizen who has been travelling abroad at least once in a life time for the purpose of leisure. random sampling methods have been used to obtain 331 respondents during school holidays (june and december 2008) and during off-peak seasons (march and september 2008). the instruments were translated into indonesian language or bahasa. the respondents were asked to give their agreement or disagreement from 32 statements regarding conscious and unconscious motive (see table 2) on a five-point scale (totally disagree, disagree, no comment, agree, and totally agree). they were not requiringverbalizing their comments or expressing their feeling with the interviewer. the 32 statements were adopted from previous motivation theory (page, 2007; kotler, 2006; cooper et.al, 2005; ritchie and goeldner, 2003; ryan, 1997; gunn, 1995). the research tool used is structural equation modelling (or sem) based on amos 7.0. it is required to have n > 100 respondents (garson, 2008). therefore, the total samples of this research are met with the sem requirement. there are five steps in sem: (1) defining individual construct and developing the overall measurement model (path diagram); (2) design the study to produce empirical result. value of an observed endogenous should be 1 and all value of unobserved exogenous variable is one; (3) assessing indonesian tourists’..... (ismayanti; dkk) 17 the measurement model validity using confirmatory factor analysis (cfa); (4) specifying the structural model; (5) examine the structural model validity using the criteria of goodness-of-fit (gof) indices (table 3). table 3 the criteria of goodness-of-fit (gof) measurement parameter absolute fit chi-square lower is better. df positive and in between the range. gfi value of 0 to 1, higher is better. gfi ≥ 0,90 is good fit; 0,80 0,90 is marginal fit. rmr rmr ≤ 0,05 is good fit. rmsea rmsea ≤ 0,08 is good fit. ecvi ecvi value of default model should be closed to ecvi value of saturated model. incremental fit tli/nnfi value of 0 to 1, higher is better. tli ≥ 0,90 is good fit; 0,80 0,90 is marginal fit. nfi value of 0 to 1, higher is better. nfi ≥ 0,90 is good fit; 0,80 0,90 is marginal fit. agfi value of 0 to 1, higher is better. agfi ≥ 0,90 is good fit; 0,80 0,90 is marginal fit. rfi value of 0 to 1, higher is better. rfi ≥ 0,90 is good fit; 0,80 0,90 is marginal fit. ifi value of 0 to 1, higher is better. ifi ≥ 0,90 is good fit; 0,80 0,90 is marginal fit. cfi value of 0 to 1, higher is better. cfi ≥ 0,90 is good fit; 0,80 0,90 is marginal fit. parsimonious fit pgfi positive value means economical fit. pgfi value of default model should be higher than pgfi value of saturated model. pnfi positive value means economical fit. pnfi value of default model should be higher than pnfi value of saturated model. aic positive value means economical fit. aic value of default model should be closed to aic value of saturated model. caic positive value means economical fit. caic value of default model should be closed to caic value of saturated model. source: ferdinand (2005:282) discussion findings respondents profile fifty-three percent (53%) of respondents were women and 47 percents were men. recently women traveller increase significantly worldwide and unwto predicts that number of women traveller will exceed men traveller since they become more independent and able to make their own decision. in indonesia the proportion between women traveller and men traveller is 3 to 2. the purposes of visit were mostly recreation (45 percents) and visiting friends and relatives (26 percent). 10 percent for business related purposes. the rest of the purpose of visit areeducation,sport and health. twenty-eight percent (28%) respondents used cars as the mode of transportation, 26 percent of respondent are travelled by bus, 22 percent are travelled by plane, 15 percent by train and the rest were used other mode of transportation such as motorcycle and ship. cars were preferable since it is flexible and reach the out-reach destination. 18 journal the winners, vol. 12 no. 1, maret 2011: 11-23 fifty percent (50%) of respondents were on vacation with family and friends. family tourism is suitable with indonesian tourist as it is a type of tourism where accommodation, meals, recreational activities and prices are specially adapted to suit the needs and comfort of families with children. forty percent (40%) of respondents stayed for 5 to 7 days and 34 percent of respondents are weekender. length of stay is the key indicator of a successful tourism industry. the greater the length of stay, the greater the tourist will spend. the length of stay of respondents are varied but mostly were not more than a week. the decree of designating public holiday and collective leave can extend the duration. the average of length of stay is compatible with the average stay of 1 to 7 days based on indonesian statistical data. the influence of unconscious motives to conscious motives in indonesian tourist preferences the influence of unconsicous motives toconscious motives in indonesian tourist’s preferences was drawn in the default model a (see figure 2). ,09 desire excitement ,41 b1 1,00 1 exploration ,28 b2 1,51 1 health ,43 b3 ,95 1 prestige ,39 b4 1,34 religious ,64 b5 1,76 1 improvement ,34 b6 1,38 1 interaction ,41 b7 ,86 1 ,12 willingness time ,51 m2 1,00 1 financial ,58 m1 ,61 1 conscious amenities ,23 p3 1,00 1 accessibilities ,12 p2 ,711 attraction ,10 p1 ,64 1 ,72 1,38 1 source: data collection (2010) figure 2 default model a: the effect of unconscious motives (unobserved) to conscious motives in tourist preferences indonesian tourists’..... (ismayanti; dkk) 19 the result was examined by gof and it indicated mostly good (see table 4). table 4 gof of default model a and default model b measurement default model a analysis default model b analysis absolut fit chi-square 451,3 good 261 good df 53 good 30 good gfi 0,826 good 0,87 good rmr 0,089 good 0,05 good rmsea 0,15 bad 0,152 bad ecvi 1,51(saturated model = 0,47) good 0,937 (saturated model = 0,331) good incremental fit tli/nnfi 0,58 good 0,758 good nfi 0,63 good 0,824 good agfi 0,75 good 0,762 good rfi 0,55 good 0,735 good ifi 0,66 good 0,841 good cfi 0,66 good 0,839 good parsimonious fit pgfi 0,56 good 0,475 good pnfi 0,51 good 0,549 good aic 501,3 (saturated = 156,0) good 311 (saturated = 110.0) good caic 621,5 (saturated = 531,0) good 431,2 (saturated = 374,4) good cn 333 good 333 good source: data collection (2010) the findings as shown in table 5 were: table 5 the effect of unobserved unconscious motive to conscious motive square multiple correlation correlation total effect conscious <--desire 0,828 0,910 0,723 conscious <--willingness 0,172 0,415 1,379 excitement <--desire 0,185 0,430 1,000 exploration <--desire 0,434 0,659 1,512 health <--desire 0,164 0,404 0,950 prestige <--desire 0,302 0,549 1,338 religious <--desire 0,310 0,557 1,760 improvement <--desire 0,341 0,584 1,383 interaction <--desire 0,143 0,379 0,858 time <--willingness 0,195 0,441 1,000 financial <--willingness 0,074 0,272 0,611 amenities <--conscious 0,555 0,745 1,000 accessibilities <--conscious 0,546 0,739 0,712 attraction <--conscious 0,543 0,737 0,639 source: data collection (2010) it was estimated that the desires contributed 82,8 percents of its variance to conscious motive and 17,2 percent of the variance were influenced by other factors. whereas willingness explain 17,2 percents of its variance to conscious motive and 82,8 percent of the variance were induced by factors other than willingness. desire plays a role in unconscious motive more than willingness. both desire and willingness had positive correlation. an estimate of the correlation between conscious and desirewas 0,910 and the correlation between conscious and willingnesswas 0,415. it means that desire connected closer to conscious rather than willingness. the total (direct and indirect) effect of willingness on conscious was 1,379. that was, due to both direct (unmediated) and indirect (mediated) effects of willingness on conscious, when willingness went up by 1, conscious went up by 1,379. the total (direct and indirect) effect of desire on consciouswas 0,723. that is, due to both direct (unmediated) and indirect (mediated) effects of desire on conscious, when desire increased by 1, conscious increased by 0,723. 20 journal the winners, vol. 12 no. 1, maret 2011: 11-23 desire consists of seven’s hidden elements (endogenous variables). among all, there are two elements play major part in shaping desire as unconscious motive, religious and exploration. it was estimated that the predictors of religious contributed 31 percent of its variance to desire. in other words, the other factors were approximately 69 percent. meanwhile, exploration explained 43,4 percent of its variance to desire and approximately 56,6 percent of the variance induced by other factors. both religious and exploration had positive correlation with desire. it was estimated that 0,557 was the correlation between religious and desire and 0,659, was an estimate of the correlation between exploration and desire. the total (direct and indirect) effect of desire on religious was 1,760. that was, due to both direct (unmediated) and indirect (mediated) effects of desire on religious, when desire raise by 1, religious raise by 1,76. the total (direct and indirect) effect of desire on exploration is 1,512. that was, due to both direct (unmediated) and an indirect (mediated) effect of desire on exploration, when desire went up by 1, exploration went up by 1,512. it was estimated that time explained 19,5 percent of its variance to willingness and other factors contributed approximately 80,5 percent. financial donated only 7,4 percent of its variance to willingness whilst approximately 92,6 percent caused by other factors. neither time nor financial gave significant contribution to willingness as unconscious motive. the correlation between time and willingness was 0,441 and 0,272 was an estimate of the correlation between financial and willingness. it means that tourist considered time as the essential in his or her preference. the impact of conscious motives to unconscious motive in indonesian tourist preferences conversely, the impact of conscious motive to unconscious motive in tourist’s preferences was drawn in the default model b (see figure 3). ,20 attraction nature ,26 a1 1,00 1 culture ,15 a2 1,34 1 man ,39 a3 ,31 1 ,08 accessibilities ease ,29 ak1 1,00 1 intensity1,16 distance ,05 ak3 2,34 1 ,35 amenities equiped ,20 am2 1,00 1 sophisticated ,14 am1 1,31 1 unconscious ,58 ,34 ,08 willingness ,23 d2 1,001 desire ,13 d1 ,76 1 ,43 ak2 1 ,09 ,15 ,17 figure 3 default model b: the impact of conscious motives (unobserved) to unconscious motives in tourist preferences indonesian tourists’..... (ismayanti; dkk) 21 the model was examined by gof and the result are mostly fit with the criteria (see table 4). meaning, the default model can be accepted. table 6 the impact of unobserved conscious motive to unconscious motive square multiple correlation correlation total effect unconscious <--attraction activities 0,921 0,960 0,584 unconscious <--accessibilities 0,755 0,849 0,340 unconscious <--amenities 0,635 0,797 0,080 nature-based <--attraction activities 0,436 0,660 1,000 culture-based <--attraction activities 0,701 0,837 1,341 man-made <--attraction activities 0,046 0,214 0,307 ease of transportation <--accessibilities 0,218 0,466 1,000 trip intensity <--accessibilities 0,202 0,499 1,158 distance <--accessibilities 0,892 0,944 2,336 well-equipped <--amenities 0,638 0,799 1,000 sophisticated <--amenities 0,815 0,903 1,313 attraction and activities contributedthe most to unconscious motives. it was estimated that 92,1 percent of attraction and activities’ variance was donated to unconscious motives, and 7,9 percents of the variance is donated by other factor. 0,960 was an estimate of the correlation between unconscious and attractions activities, which means that there was a positive connection. the total (direct and indirect) effect of attraction on unconscious motives was 0,584. that was, due to both direct and indirect effect of attraction on unconscious motives, when attraction increased by 1, unconscious increased by 0,584. unconscious motive was also induced by accessibilities. it was estimated that the predictors of accessibilities explained 75,5 percents of its variance and it is approximately 24,5 percent of other factors. the correlation between unconscious and accessibilities was estimated 0,849. in other words, there was a positive relation between these two.the total (unmediated and mediated) effect of accessibilities on unconsciouswas0,340. that was, due to both unmediated and mediated effects of accessibilities on unconscious, when accessibilities raised by 1, unconscious raised by 0,34. the amenities contributed 63,5 percents of its variance to tourist’s unconscious motives and the other factors was approximately 36,5 percents. thus, it can be said that the impact of amenities in tourist’s unconscious motives was 63,5 percents. 0,797 was an estimate of the correlation between unconscious and amenities. meaning, the relation between unconscious and amenities was positive. the total (direct and indirect) effect of amenities on unconscious was 0,080. that was, due to both direct (unmediated) and indirect (mediated) effects of amenities on unconscious, when amenities went up by 1, unconscious went up by 0,08. attractions and activities consisted of three hidden elements: nature-based, culture-based and man-made based. among these three, culture-basedgave the biggest contribution to attractions and activities variable. culture-based gave 70,1 percentsto attractions and activities, the other factor was approximately 29,9 percents. meaning, indonesian tourist’s preferences wasunconsciously motivated the most by culture-based attractions and activities. 0,837 was an estimate of the correlation between culture and attractions. the total (direct and indirect) effect of attraction on culturewas 1,341. that was, due to both direct (unmediated) and indirect (mediated) effects of attraction on culture, when attractionincreased by 1, cultureincreased by 1,341. 22 journal the winners, vol. 12 no. 1, maret 2011: 11-23 accessibilities comprised of three unobserved variables: ease of transportation, trip intensity and distance. among those, distance was the highest contribution to accessibilities. it was estimated that the predictors of distance explained 89,2 percent of its variance whilst 10,8 percent from other factors. in other words, indonesians intentionally consider distance as their preference. the total (direct and indirect) effect of accessibilities on distance was 2,336. meaning, due to both direct (unmediated) and indirect (mediated) effects of accessibilities on distance, when accessibilities went up by 1, distance went up by 2,336.an estimate of the correlation between distance and amenities was 0,944 meaning there was a positive relationship. amenities contained two unseen variables: sophisticated facilities and well-equipped facilities. among those two variables, sophiscated facilities was the most contributed to amenities. it was estimated that the predictors of sophisticated facilities explained 81,5 percent of its variance and 18,5 percent was other factors. it meant that indonesian overlook sophisticated facilities as their conscious motives. the correlation between sophisticated facilities and amenities was 0.903. meaning, there was a positive link between sophisticated facilities and amenities. the total effect of amenities on sophisticatedfacilities was 1,313. in the other words, when amenitiesincreased by 1, sophisticatedfacilities increased by 1,313. conclusion this research exploredtwo motives of travelling: inner intention as the unconscious motives and outer magnet as the conscious motives that influence indonesian tourist preferences. inner intentions derived from tourist itself and pushed his or her to travel. outer magnet was created by destination and attracted the customers. from 331 respondents in jakarta (capital city) and bandung as tourist generating regions in indonesia showed that there was partial element of inner intention that encouraged indonesian to travel: religiousness and leisure time. both were hidden variables of unconscious motive. each variable (religious and leisure time) independently brought direct and indirect impact to unconscious motive. most of tourist was unaware that their preferences were affected by religiousness and time. in the other hand, there were collective elements of outer magnet that attracted indonesian tourist: cultural attractions and activities, distances, and sophisticated amenities. all those are unobserved variable of conscious motive and jointly gave impacts (directly and indirectly) to conscious motive. when indonesian tourists want to make a travel decision, cultural attractions and activities, distances and sophisticated facilities will affect the preferences. those findings can be used as basic consideration in creating a tour package targeted indonesia tourists. the tour operator should deliberate the unconscious motive (desire and willingness separately) and the conscious motives (attractions activities, accessibilities and amenities at once). in every holiday package offered to indonesian, religious aspect is in main attention. for instance, the itinerary includes religious services, the meals prepare based on religious approach. halal label is important. any attractions and activities relating with culture and combine with religious issue catch the attention of indonesia tourist or cultural religious festive such as, celebration of prophet muhammad, cremation of hindus. packages are offered in appropriate travel season (time). tour operator must aware of public holiday and collective leave in calendar every year. high season in indonesia is june-july (school holiday) and celebration after fasting month (idul fitri). package in destination with sophisticated facilities and moderate travel distance will be the advantages. indonesian tourists prefer short-haul and a stylish fashionable resort. they want to buy all-in-one stop package tour to an integrated destination. indonesian tourists’..... (ismayanti; dkk) 23 references bps. (2009). data statistik kunjungan wisatawan domestik. jakarta: biro pusat statistik. cooper, et. al. (2005). tourism principles and practice (3rd ed.). london: pitman publishing. garson, g. d. (2008). structural equation modelling, from http://www2.chass.ncsu.edu/garson/pa765/ structur.htm gee, c. y. (1997). international tourism: a global perspective (2nd ed.). madrid: wto. gunn, c. (1995). tourism planning (2nd ed.). new york: routledge. kotler, p. (2006). marketing for hospitality and tourism (3rd ed.). new jersey: prentice-hall. mill, r. c. (1992). the tourism system: an introductory text (2nd ed.). new jersey: prentice-hall. pusat pengelolaan data dan sistem jaringan (p2dsj). (2009). buku saku pariwisata indonesia. jakarta: depbudpar. ritchie, j. r. b. & goeldner, c. r. (2003). tourism: principles, practices, philosophies. new jersey: john wiley and sons, inc. ross, g. f. (1990). the psychology of tourism. melbourne: melbourne press. ryan, c. (ed.). (1997). the tourist experience: a new introduction. london: cassell. swarbrooke, j., & horner, s. (1999). consumer behaviour in tourism. oxford: butterworthheinemann. microsoft word 03_ibm_rianto_prepare sme in facing aec 2015 -1 a2t 96   journal the winners, vol. 16 no. 2, september 2015: 96-107  prepare sme in facing aec 2015 through english training program to obtain the export market rianto nurcahyo1; raja halim harahap2; didiet gharnaditya3 jurusan ibm bina nusantara university jln. jalur sutera barat kav. 21, alam sutera, serpong tangerang 1rnurtjahjo@binus.edu abstract entering the era of globalization, better known as free market requires every individual to prepare reliable resources, especially in the field of science and technology. in order to master these demands, adequate knowledge is required in dealing with the demands of a globalized world that is full of competition. in this regard, the role of the english language is required both in mastering communication technologies and to interact directly; moreover, the presence of the media especially the internet will force people to learn english. as a means of global communication, english should be actively mastered both orally and in written. in an increasingly globalized business world, there are more local indonesian companies entering into the world market, and growing number of international companies. this research is an attempt to create the roles of exporters, especially the micro, small and medium enterprises (smes) through the products produced by the exporters themselves. comparing indonesian export revenue number to other countries, the value of indonesia's exports is relatively low. one of the constraints faced by exporters is in terms of the ability of a foreign language, namely english. mastery of english is the main capital to open international trading communication. this research focuses on quantitative method using chi square analysis, where it can be used to test the relation or the effect of two nominal variables and to measure the relation strength of each variable with other nominal variable (c as the coefficient of contingency). from the chi square method, difference from the sme before and after the export english course training is expected to be found. the training will use classroom method. the title of this study is prepare sme in facing aec 2015 through english training program to obtain the export market. keywords: training, export, english, aec abstrak memasuki era globalisasi atau yang lebih dikenal dengan pasar bebas menuntut setiap individu untuk mempersiapkan sumber daya yang handal terutama di bidang ilmu pengetahuan dan teknologi (iptek). agar dapat menguasai tuntutan tersebut diperlukan pengetahuan yang memadai sehingga dapat memanfaatkannya dalam menghadapi tuntutan dunia global yang sarat dengan persaingan yang kompetitif. dalam hal ini peranan bahasa inggris sangat diperlukan baik dalam menguasai teknologi komunikasi maupun dalam berinteraksi secara langsung apalagi dengan hadirnya media internet yang mau tidak mau memaksa orang untuk mempelajari bahasa inggris. sebagai sarana komunikasi global, bahasa inggris harus dikuasai secara aktif baik lisan maupun tulisan. di dunia usaha yang makin mengglobal, semakin banyak perusahaan lokal indonesia yang masuk ke pasar dunia, dan semakin banyak perusahaan internasional hasil penelitian ini adalah upaya untuk menciptakan peranan exportir khususnya para usaha mikro kecil menengah (umkm) melalui produk yang dihasilkan oleh para eksportir itu sendiri , dari angka pendapatan export indonesia ke luar negeri, nilai ekspor indonesia masih relatif rendah, salah satu yang menjadi kendala yang dihadapi oleh eksportir adalah dari segi kemampuan bahasa asing, yaitu bahasa inggris. penelitian ini mengacu pada metode kuantitatif yang di analisa dengan menggunakan analisa chi square dimana pengertian dari metode ini adalah metode chi square adalah metode yang berguna untuk menguji hubungan atau pengaruh dua buah variabel nominal dan mengukur kuatnya hubungan antara variabel yang satu dengan variabel nominal lainnya (c=coefisien of contingency). dari metode chi square diharapkan dapat menemukan perbedaaan antara sebelum dan sesudah melakukan kursus bahasa inggris terhadap ekspor yang akan dilaksanakan oleh para umkm. bentuk dari pelatihan yang dilaksanakan menggunakan metode classroom. judul dari penelitian ini adalah mempersiapkan umkm dalam menghadapi mea 2015 melalui program pelatihan bahasa inggris guna mendapatkan pasar ekspor. kata kunci: pelatihan, ekspor, bahasa inggris, mea prepare sme in facing aec 2015…… (rianto nurcahyo; dkk) 97  introduction entering this year, indonesia was confronted by the collective agreement in the field of economy, namely the aec (asean economic community), aec is a brainchild of the members throughout the asean countries aimed at creating a development country of asean economic integration, namely the free flow of goods and services, educated workforce and investment between asean countries, indonesia with a population of more than 250 million, as seen in table 1 according to the united nations, indonesia is a developing country. developing countries are countries that are working in order to become a developed country by improving the welfare of their people from various sectors. table 1 ten largest countries by population no country number 1 republik of china 1.405.000.000 2 india 1.280.000.000 3 united states of america 326.000.000 4 indonesia 257.000.000 5 brazil 204.426.000 6 pakistan 189.000.000 7 nigeria 185.000.000 8 bangladesh 161.000.000 9 rusia 141.000.000 10 japan 126.000.000 source: http://www.worldometers.info/world-population/ from the data, it is known that indonesia with a population of no. 4 in the world population of 2015 will be the target of trade because it has great potential and it became the basis of consumption. it can be seen that indonesia strategically is in good position and asean economic community (aec 2015) can be a great opportunity for indonesia to build the economy. one way for indonesia to build the economy is by increasing the sme’s sector. micro, small and medium enterprises (smes) have a very big role in the indonesian economy which was stated by arif (2004). the meaning of medium enterprise in here are productive economic activities carried out alone by individuals or entities that are not subsidiaries or branches of companies owned, controlled or become part either directly or indirectly with small or large businesses with total net assets or have a net worth of more than 500 million up to a maximum of 10 billion excluding land and buildings or having an annual sales turnover of more than rp2.5 billion up to at most 50 billion. the role of smes in indonesian economy in 2014 gdp shows amounted to 57.9 percent and the employment contribution of 97.2 percent. as if the gdp (gross domestic product) are all goods and services production is in a state within a specified period (which is normally a year). for the asean region alone, more than 96 percent of companies in asean are smes and the contribution to gdp by 30-50 percent this case based on data from the director general of industry small and medium enterprise from ministry of industry. the population of indonesia is the largest in asean will be targeted marketing of various goods, services and investment but smes still weak in access to working capital or business loans, intellectual property rights, deregulation, export facilities, business management and administration, as well as the continuity of supply of materials raw. export is the activity of selling goods and services from the customs area according to the rules and regulations applicable as stated by purnamawati (2013). 98   journal the winners, vol. 16 no. 2, september 2015: 96-107  smes in indonesia could be developed to boost the development of sme clusters through stakeholder involvement / private sector and government. in this case, the role of academics is very helpful to prepare smes in facing the asean economic community (aec 2015) by providing entrepreneurship training conducted intensively. according to analisis peran lembaga 2015, the gross domestic product (gdp) contribution to the development of micro, small and medium increased in growth from year to year. in 2010, the gdp of micro, small and medium increased 0.59% from 56.53% in 2009 to 57.12% in 2010, whereas in 2011 it increased by 0.83% to 57.94% and in 2012 there was an increase of 1.14% to 59.08%. this takes place in a sustainable growth of smes in indonesia. implementation of the asean economic community imposed this year to have a common goal in improving economic instrument asean countries, aec materialized from the desire to be the regional countries to realize the asean into a region whose economy is solid and taken into account in the international economy stated in mahendrawati (2014). the asean leaders have agreed to realize aec 2015 stated in warta ekspor (2015) with four pillars, namely single market and production base, highly competitive economic region, region with equitable economic development, and integrated region. with the aec, the goal to be achieved is the free flow of goods, services and skilled labor (skilled labour) and the flow of free investment. aec implementation will implement 12 priority sectors, as stated by ari (2015): fisheries, e-travel, e-asean, automotive, logistics, air industrial wood base, rubber-based industry, furniture, food and beverages, textiles and health. but according to skkni (national competence indonesia), lsp (professional certification institute) and mra (mutual recognition arangement), indonesia is ready with 3 most prepared sectors welcomed by the aec: the tourism, furniture and textile. for indonesia, aec formation faces challenges that are not only internally in the country but even more competition with other asean countries and other countries such as china and tight india. nagel (2015) stated that this competition will have an impact on the competitive price, not only the commodity form of the products /services featured but also the sme sector because of the similarity characteristic of the product. this large number of smes is not an advantage for indonesia if it is not supported by the quality of human resources. there are some things that hinder the quality of indonesian human resources, especially in smes, namely; education, knowledge and communication technology. some smes are considered to have the potential for a very large local market in the middle of the aec 2015 trading era. yet, to be able to compete, innovation, marketing and a good mastery of the english language are needed. forum management prasetya mulya stated that (2015) the current obstacles in entering the international business are the limitation of quotas and tariffs, differences in language, culture social / cultural, political conditions and laws / regulations, currency differences friendlies’, low quality resources, and inter-country payment risk is difficult and high risk. there are a few things that have to be taken into consideration smes should master the language skills, namely: (1) customers are served by smes does not come from indonesia, but also includes countries in this asean. it also needs demanding of indonesian smes to be able to master english well in order to provide maximum service in accordance with market needs. (2) the existence of competition and an increasingly competitive workforce to seize the market opportunities that exist. the smes not only rely on local customers from indonesia as well as the use of defence strategies. the smes should be more competitive to develop the business and take advantage of existing opportunities. (3) development of information technology, which is demand of smes to be able to master the english language in order to learn and utilize technology and information in assisting the development of businesses owned. with the mastery of english, it is expected for indonesian society and smes to have greater bargaining power. learning english requires time and cost, but it must be trained consistently since it would be beneficial to speak english fluently. english is an international language that serves as a prepare sme in facing aec 2015…… (rianto nurcahyo; dkk) 99  communication tool for people around the world. the ability to communicate in english can be used in various aspects of life such as in the economic, social, cultural, educational, legal, and others stated by soedradjad (2014). based on information above, the implementations of the training activity are: (1) how the implementation of the training methods implemented effectively? (2) how is the correlation of the training activities with the export carried out by smes? (3) output results this study has several purposes, among others: (1) to learn about the preparation of smes in facing the asean free market through english training program, (2) to know the relationship or correlation to the effects before and after the training program was held organized english language training program for smes in the area of tangerang, (3) to determine the influence of the correlation of the results the sales made by the smes. tangerang area before and after the training in english. this paper has important benefits of this research which are: (1) to find out how much influence the training conducted before and after the participants of training for smes, (2) to find out how much the effectiveness of implemented through english language training for smes, (3) to know the results obtained from this research to exporter conducted by the micro, small and medium enterprises (smes), to be obtained from the implementation of training for smes. in general, each organization often occurs a gap between the need for the promotion of employment expected by the organization with the ability to respond to the needs of the workforce, organizations need to make an effort to bridge this gap. one way to do is through the organization of training programs. through the training program, it is expected so that the full potential can be increased in accordance with the wishes of the organization or at least close to what was expected by the organization. here is an explanation of some experts about the notion of training. according to bella (2003), “education and training together with the development of which is the process of improving work skills both technical and managerial. oriented education in theory, can be done in the classroom, lasts longer and usually answer why exercise-oriented practice, carried out in the field was brief and usually answer the how.” based on panggabean (2004), “training can be defined as a means used to provide or improve the skills needed to carry out the work now. while education is more oriented to the future and put more emphasis on improving one’s ability to understand and interpret knowledge.” based on the above understanding, it can be concluded that training is an activity to improve the capability and improve the performance of employees in performing their duties by increasing the expertise, knowledge, skills, attitudes and behaviors that are specifically related to the job. according to panggabean (2004), training is done to meet the needs of employees, companies, and consumers, as for the purpose of the training are: (1) provide the skills and knowledge required of employees, (2) improve employee morale. with the skills and expertise appropriate to the work they will be keen to finish the job properly, (3) improve performance. employees who work with unsatisfactory performance because of skills shortages can be minimized through training programs and development, (4) assist employees in coping with changes, both changes in the organizational structure, technology, and human resources, (5) through employee training and development is expected to effectively use new technologies. managers in all areas must be constantly aware that technological advances make the organization function more effectively, (6) increased employee's career. with training and development opportunity to improve career become better because of the expertise, skills and better job performance, (7) increase the amount of remuneration that can be received by employees. with training and development, increasing the skills and better job performance and salary will also increase due to salary increases based on achievement. 100   journal the winners, vol. 16 no. 2, september 2015: 96-107  language definition according to bloch and trager (1981) language is a system of arbitrary vocal symbols by means of which a social group co-operates. according to hall (1981) language is the institution whereby humans communicate and interact with each other by means of habitually used oral-auditory arbitrary symbols. it can be concluded that the language is a tool which humans can communicate and interact with each other through the emblem / symbol. importance of learning english the era of advances in science and technology is rapidly increasing, more opportunities to communicate internationally. the implementation of free market requires indonesian people have a competitive competence in various fields. indonesia can no longer just rely on natural resources and the physical ability to achieve the welfare of the nation but must rely more on competent human resources. one absolute requirement to achieve this is to have good communication skills. the main communication tool throughout the world is language stated in suzieicus (2013). language is a sign system in the form of sound, is abitrer, used by the people to speak, collaborate, communicate, and to identify themselves (keraf & chaer, 2006). without language, human beings cannot communicate to convey thoughts and feelings. mastery of the language in an integrated way covers speaking, listening, reading and writing are important parts to learn. learning languages is becoming increasingly important to be able to communicate well too (lyons, 1981). definition that is intended to communicate is to understand and express information, thought, feeling, and develop science, technology and culture with the use of language. the ability to communicate on a deeper level of understanding of the complete is the ability of discourse. it is inevitable that the first international language that is widely used is english. english is taught widely in various countries around the world. according to richards & rodger (1986), many people in different countries used english as a communication tool in a variety of important international meetings. mastery of english is very important because almost all global resources in various aspects of life using this language. crystal (2003) stated that english is global language. this statement represented the meaning that english is used by various nations to communicate with nations around the world. thus, english is one of the international languages at the same time global language. definition of smes in accordance with law no. 20 of 2008 on micro, small and medium enterprises (smes): micro is a productive enterprise belonging to individuals and / or entities that meet the criteria of individual businesses micro as stipulated in this law. small business is an economic enterprise productive stand-alone, regulated by carried out by an individual or business entity that is not a subsidiary or not branches of companies owned, controlled, or be a part either directly or indirectly from the medium or large business meet the criteria for small business sme criteria based on the amount of assets and turnover. prepare sme in facing aec 2015…… (rianto nurcahyo; dkk) 101  table 2 difference type of sme in asset and omzet type of sme asset omzet micro type small type medium type max idr 50jt more idr 50jt-500jt more than idr 500jt-10m max idr 300juta more than idr 300juta-3m more than idr 2,5m-50m based on the 2008 uu.no 20 above, it clearly shows a considerable difference both in terms of assets or turnover among small and micro businesses. definition of aec according to the official website of asean, aec is a form of economic integration of asean in terms of a system of free trade between the aec that will be a single market for goods and services to enhance the production network in asean and asean's capacity as a global production center. to find out the position of indonesia among other asean member countries in dealing with aec, the logistic performace index (lpi) by the world bank in 2014 is used. it shows that indonesia occupies ranking 53 which means lower than vietnam (rated to 48), (see data attach above). the factors that affect the ranking of the cost of logistics include customs, infrastructure, international shipments, logistics competence, domestic logistics costs and timeliness. table 3 differences of lpi between 2012 and 2014 method to be known within the market, the smes should make it easier to find their target customers (buyers). the existence in the virtual world to do, ranging from having a website, active in social media, to install the product and company information in online directories. english should be mastered so that communications are not hindered. better yet, master the language of each country. preparation should be done early so that our smes will not only be able to survive in their own country, but also can compete to be a major player in southeast asia. this study was to prove that the two variables will have an impact on the before and after training in english for the smes. figure 1 relationship indicators for english language training has an influence on export opportunities. 2014 lpi 2012 lpi economy rank score % of highest performer rank score % of highest performer vietnam 48 3.15 69 53 3 64.1 indonesia 53 3.08 66.7 59 2.94 62.2 india 54 3.08 66.6 46 3.08 66.4 philipines 57 3 64.2 52 3.02 64.8 ukraine 61 2.98 63.3 66 2.85 59.3 egypt 62 2.97 63 57 2.98 63.3 el savador 64 2.83 62.8 93 2.6 51.2 pakistan 72 2.81 58.5 71 2.83 58.4 nigeria 75 2.8 57.9 121 2.45 46.3 english language understanding export 102   journal the winners, vol. 16 no. 2, september 2015: 96-107  the flow diagram of this study refers to the quantitative methods in the analysis using chi square analysis / hypothesis. method chi /chi square is useful to examine the relationship or the influence of two nominal variables and measure the strength of the relationship between variables with each other nominal variables (c = coefficient of contingency) stated by arief (2004). from the chi square method, it is expected to find a difference between before and after the course of english to exports to be carried out by smes. this methodology was applied in order to answer the questions of the research conducted by the author with the following details: (1) is there a difference before the participants of the training of the english language in terms of understanding and export opportunities to the smes? (2) is there a difference after the implementation of the participants attended english language training to the terms of the understanding and export opportunities to the smes? population and sample this research was conducted on smes which have difficulty in english includes: writing, speaking, reading and hearing and have a lack of knowledge on export activities of goods related to marketing and packaging. the research sample is taken from smes in tangerang region by taking four districts as much as 20 smes. research instrument the instrument used in this study is a questionnaire as a source of information about the readiness of smes in the face of the aec and the ability of understanding english and export marketing strategies through survey method and provide english language training for 20 hours. whole grains questions or statements are measured based on a questionnaire and the results of pre-test and post-test in which data collection is carried out through distributing a questionnaire to provide a questionnaire / list of questions to the micro, small and medium enterprises which are in 4 districts tangerang region validity and reliability research instruments to analyze the data using techniques percentage and presented in a descriptive diagram and use a range of methods to the results before and after exercise training english language presented in comparison to the results of a test of the method of distributing questionnaires. results and discussion asean economy community (aec) can provide opportunities for tens of millions of smes in indonesia to expand their markets in ledda (2015). some of the benefits that can be in the can by smes are: smes can find out the needs and desires of the asean market to market products and selling products to various customers and countries in asean, getting the investor section of the states members of asean, ability to negotiate with the buyer (buyer) of asean member countries, to deal / beneficial cooperation with asean member states. one thing that becomes the weakness of language acquisition in the asean economic community is in the challenge that must be faced.this obstacle is regarding how to improve english proficiency and knowledge of exports for smes, considering that they are only refer to the freight forwarder / service logistics agent arrangements for the goods to be exported / imported abroad because foreign currency will give huge profits and the government is encouraging separately promoting local products. prepare sme in facing aec 2015…… (rianto nurcahyo; dkk) 103  according to data issued by ef english proficiency index, it shows premises ranks 27 out of 18 countries in the index in terms of english language proficiency. (while the neighboring countries with the category average, to singapore's neighboring countries are in the order of 12 (with a score of 58.65) and malaysia 13th (score 57.95), as seen in table 4. table 4 english proficiency index-rank out 18 countries 2012 rank country score level 1 sweden 68.91 very high 2 denmark 67.96 very high 3 netherlands 66.32 very high 4 finland 64.37 very high 5 norway 63.32 very high 9 germany 60.07 high 10 poland 59.08 high 12 singapore 58.65 high 13 malaysia 57.95 high 14 india 57.49 moderate 15 switzerland 57.39 moderate 17 pakistan 56.03 moderate 27 indonesia 53.32 low 28 iran 52.92 low 29 rusia 52.78 low 48 brazil 46.86 very low 50 columbia 45.07 very low 52 saudi arabia 44.50 very low (sources: ef “countries where english is an official language “) from these results, it can be seen that the english language skills of indonesian society is still very weak. indonesia is lagging behind singapore and malaysia which have the ability to speak english better. through this research, based on a questionnaire obtained data on smes in tangerang that nearly 90% of the smes have any impact on the importance of english to face the challenges of the asean economic community by 2015. (enclosed in table 5) table 5 results of questionnaire on the importance of english the importance of english language not important do not know total number of questionners 42 5 3 50 percentage 95% 4% 1% 100% (source: 2015 data processing) in this study, get 5 districts of the total questionnaires distributed 50 questionnaires, and there is a 95% respondents state that english language skills are needed while the remaining 4% respondents argue that english language is not important because they lack understanding about the existence of the aec (asean economic community in 2015) while 1% of smes do not fill out a questionnaire that is given. to complete this study, data were obtained, from the total districts under the auspices of the department of cooperatives and smes district tangerang as many as 29 sub-district with a total 3,500 smes stated in umkm banten province, so the data at random on the basis of the region that 104   journal the winners, vol. 16 no. 2, september 2015: 96-107  has the potential to export will be taken such as teluk naga, kosambi, panongan, paku haji, and kemiri. type of business of the smes is as diversed as bamboo hats, bags, shoes, wallets, craft making and tool table praga for kindergarten kids, food and other. implementation of training activities english language training activities carried out during 46 hours with face to face and evaluation methods with a time of 120 minutes, with 90 minutes of the class for a discussion of material and 30 minutes for evaluation of the teaching material previously provided. activities carried from june 4 to august 4, 2015, the execution time of the meeting is 2x 1 week (tuesday and thursday). this activity was break due to eid al-fitri holiday. it can be seen from the table above that the activity is more focused on writing because the smes export activities via email and emphasis on teaching english for business. in addition to writing material given, the smes are also given by grammar. grammar as a basis for writing arrangement or grammar in correspondence with buyers can be true and correct. pre-test result table 5 shows the results of the pre carried out for 100 minutes with a form of multiple choices, and the time allotted each problem as follows: table 6 types of the pre test for smes no exam questions number of questions duration of test 1 listening 20 45 minute 2 reading & grammar 30 55 minute total 50 100 minute the author provides information about the meaning / significance of this type of exam questions. listening is skills to understand the meaning or intent of greeting someone either in the form of words, phrases, simple sentences, until combined complex derived from the audio / video such as: tv, radio, cassette, etc. reading is a skill to describe something in detail with in the form of writing about the story / case. grammar is a set of rules about the structure of the grammar. from the results of questionnaires distributed by the author as much as 20 smes from several districts in the city of tangerang, the authors have obtained the data that 42 provide options that english is very important for the asean economic community, but which is present and sends participants from smes to attend language training english is only 20 smes, here are the results of the pre tests carried out on 4 june 2015. (see table 6) the results of this test will be part of the evaluation of english language skills which will be implemented for a total of 46 hours each 2x meeting every week for 2 hours to 16x meeting. the data pre and post the test results are as follows. the data shows that the total value before the course for listening and grammar between 50-70 while after the value after the course for reading / grammar is 77-90, which means that participants had elevated the value of english language, and their desire to be able to speak english and trust to correspondence using on line in order to face the 2015 asean free trade market. prepare sme in facing aec 2015…… (rianto nurcahyo; dkk) 105  table 7 paired samples statistics table 8 paired samples correlations table 9 pre test and post test result of english language training program no pre test score post test score 1 70 90 2 66 80 3 65 87 4 50 85 5 58 89 6 59 90 7 65 86 8 64 81 9 70 85 10 63 80 11 70 77 12 59 90 13 68 85 14 55 85 15 62 83 16 59 78 17 65 90 18 64 79 19 66 77 20 68 90 hypothesis h0: μ1 = μ2 h1: μ1 ≠ μ2 α = 0,05 1 = 63,3; 2 = 84,35 σ1= 5,302; σ2= 4,075 from these results can be known thitung= -12,574 <-2,093 = ttabel then h0 rejected. spss output and data analysis the first part shows a summary of the two samples. the test score before the course has an average score of 63.3 of the total of 20 data. while test scores after course has an average score of 84.35 within the total of 20 data. in addition, table 8 and 9 also can be seen standard deviation score mean standard error from each variable. mean n std. deviation std. error mean pair 1 pre test score 63.30 20 5.302 1.186 post test score 84.35 20 4.705 1.052 n correlation sig. pair 1 pre exam & post exam 20 -.116 .626 106   journal the winners, vol. 16 no. 2, september 2015: 96-107  in decision making, based on comparison between thitung with ttabel: if thitung is in range ttabel, then h0 is accepted if thitung is out of range ttabel, then h0 is rejected t hitung from output is -12,574 ttabel =  1n2;t -/ = t(0,05/2: 20-1) = t(0,025; 19) = 2,093 because thitung= -12,574<-2,093 = ttabel then h0 is rejected. it can be said that the implementation of english language training program is effective to be implemented for smes in tangerang to enhance the confidence in facing the 2015 asean economic community. conclusion english is so important because the eac is certainly a place for businesses to sell their products, including smes. it means that indonesian entrepreneurs will compete with entrepreneurs from various asean countries. with the holding of english language training for smes in indonesia, it is expected that smes are more prepared to overcome english, although still at a basic level. but at least they already have one of the assets to compete with other asean countries when the asean economic community (aec) began in the late 2015's. references analisis peran lembaga pembiayaan dalam pengembangan umkm. (n.d.). retrieved from http://www.kemendag.go.id/files/pdf/2015/02/27/analisis-peran-lembaga-1425035886.pdf crystal, d. (2003). english as global language (2nd ed.). cambridge. djiwandono, j. s. (2015). indonesia, mea 2015 dan globalisasi. butir-butir presentasi pada kuliah umum pada fakultas ekonomi, unika atma jaya, jakarta, 17 november 2014. ef “countries where english is an official language “english proficiency index-rank out 18 countries 2012. (n.d). retrieved from http://www.ef.com/~/media/efcom/epi/2014/full-reports/ef-epi2013-report-master-new.pdf forum management prasetya mulya, aec 2015 siapkah kita bertanding? edisi september–oktober 2014 hasibuan, h., malayu, s.p. (2008). manajemen sumber daya manusia. jakarta: bumi aksara. keraf, g. (2006). diksi dan gaya bahasa. jakarta: pt. gramedia pustaka utama. ledda, v.m. (2015). aec 2015: issues and challenges in standards and conformance, philippine journal of development 71, xxxix (1-2), 171-188. lyons, j. (1981). language and linguistics: an introduction. cambridge university press. prepare sme in facing aec 2015…… (rianto nurcahyo; dkk) 107  mahendrawathi er, herdiyanti, a. and astuti, h.m. (2014). readiness of indonesian companies for asean economic community (aec) preliminary findings from automotive and garment industry. indonesia proceedings of the 2014 international conference on industrial engineering and operations management. bali, indonesia, january 7 – 9, 2014 nagel, p.j.f. (2015). peluang dan tantangan ukm indonesia menghadapi masyarakat ekonomi asean 2015. panggabean, s. m. (2004). manajemen sumber daya manusia. bogor: ghalia indonesia. purnamawati, a. (2013). dasar-dasar ekspor teori praktik dan prosedur. upp stim ykpn yogyakarta. prastito, a. (2004). cara mudah mengatasi masalah statistik dan rancangan percobaaan dengan spss 12. jakarta: elex media komputindo. richards, j.c., rodgers, t.s. (1986). approaches and methods in language teaching. beijing: foreign language teaching press. suzieicus. (n.d.). pentingnya kemampuan-bahasa inggris dan public speaking. retrieved from http://suzieitaco.wordpress.com/2013/03/11/ tyas, a.a.w.p., safitri, v.i. (2014). penguatan sektor umkm sebagai strategi menghadapi mea 2015. jurnal ekonomi, 5(1), 42-48. umkm banten. (n.d.). retrieved from http://www.penghubung.bantenprov.go.id/id/read/umkmbanten.html #.viby3nsauzk warta ekspor, tajuk utama aec kemdag ri ditjen pen/wrt/04/i/2015 edisi januari; 7-10 microsoft word 08_atma jaya_freska-fara atma jaya untuk binus-2-a2t.docx 152  journal the winners, vol. 16 no. 2, september 2015: 152-165  regional financial performance and human development index based on study in 20 counties/citiesof level i region freska gousario; christiana fara dharmastuti magister manajemen, universitas katolik indonesia atma jaya jl. jenderal sudirman 51, jakarta 12930 msgousario@gmail.com; christiana.fara@atmajaya.ac.id abstract this research aimed to know the financial performance of local government through regional financial ratio analysis, i.e. regional financial independence ratios, regional financial effectiveness ratios, regional financial efficiency ratios and regional expenditure harmony ratios,as well as analyzing the impact of regional financial performance against the human development index (hdi).this research was conducted in 20 counties/cities in level i region. analysis techniques used was multiple linear regression analysis with spss statistics 21. the results shows that: (1) ratio of regional financial independence contributes positive and significant effect to hdi, (2) ratio of the regional financial effectiveness contributes no significant effect to hdi, (3) ratio of regional financial efficiency contributes no significant effect to hdi, and (4) ratio of regional financial harmony expenditure contributes no positive effect to hdi. keywords: financial independence, effectiveness, efficiency, harmony expenditure, hdi abstrak penelitian ini bertujuan untuk mengetahui kinerja keuangan pemerintah daerah melalui analisis rasio keuangan daerah, seperti rasio keuangan independen daerah, rasio efektivitas keuangan daerah, rasio efisiensi keuangan daerah dan rasio keseimbangan pengeluaran daerah, serta menganalisis dampak dari kinerja keuangan daerah terhadap indeks pembangunan manusia (ipm). penelitian ini dilakukan di 20 kabupaten / kota di wilayah tingkat i. teknik analisis yang digunakan adalah analisis regresi linier berganda dengan spss statistik 21. hasil penelitian menunjukkan bahwa: (1) rasio kemandirian efek keuangan daerah positif dan signifikan terhadap ipm, (2) rasio efektivitas keuangan tidak berpengaruh signifikan daerah terhadap ipm, (3) rasio efisiensi keuangan daerah tidak berpengaruh signifikan terhadap ipm, dan (4) rasio belanja harmoni keuangan tidak berpengaruh positif terhadap daerah ipm. kata kunci: kemandirian finansial, efektivitas, efisiensi, keseimbangan belanja, ipm     regional financial performance …… (freska gousario; christiana fara dharmastuti) 153  introduction the implementation of regional autonomy in indonesia opens up opportunities for the region in the form of broad, distinctive, and reliable regional autonomy. it is supported by the enactment of law no. 32 of 2004 on regional government and law no. 33 of 2004 on the financial balance between the central government and local government. it means that the region is able to develop and build in accordance with the needs and priorities of each region without any interference from the central government (yayasan indonesia forum, 2000). regional autonomy is not just the desire to delegate the authority of the central government to local government, but what is more important is the desire to improve the efficiency and effectiveness of financial resources management in order to improve the welfare and service to the community.as stipulated in government regulation no. 58 of article 4 year 2005 on regional financial management, the local finance is managed in an orderly, obedient to laws and regulations, efficient, economical, effective, transparent, and accountable with regard to the principle of fairness, decency,and benefits for society. financial management implemented in an integrated system that is embodied in the budget which is annually set by local regulations. on that basis, it would be necessary to measure the performance of the region. one of the region's financial performance measure is the analysis of financial ratios derived from the budget that has been established and implemented. there are number of local financial ratios derived from the budget that can be developed to measure the accountability of local government, including independence ratio (fiscal autonomy), effectiveness and efficiency ratio, as well as harmony expenditure ratio (halim, 2007). the central statistics agency (badan pusat statistik-bps) and the united nation development program (undp) explain the concept of the human development index (hdi) as a process of enlarging the option of people. human development index (hdi) is performed to measure the achievement of human development based on a number of basic components of quality of life. as a measure of quality of life, hdi is built through a basic three-dimensional approach. the dimensions include a long and healthy life, knowledge, and a decent life. these three dimensions mutually influence one to another and they are also influenced by other factors such as economic growth, the availability of employment opportunities, infrastructure, and government policy. in line with the spirit of regional autonomy with the enactment of law no. 32 of 2004 on regional government and in the framework of public accountability, local governments are expected to perform the optimization of financial management in an efficient and effective way to improve the welfare of local communities. level i region (x) is a region in eastern indonesia which is divided into 20 districts and 1 city (bps, 2012). level i region is a relatively small area of 47.349,9 km² with a population of nearly 5 million people (yayasan indonesia forum, 2000). in the last three years, local government finance report (laporan keuangan pemerintah daerah-lkpd) in this region has never accomplished unqualified opinion (wajar tanpa pengecualian-wtp), even some local governments are not given the opinion (disclaimer) of finance auditor body (badan pemeriksa keuangan-bpk) (www.bpkp.go.id). in order to manage regional finances more transparent, fair, democratic, effective, efficient, and accountable, it is necessary to analyze and evaluate the financial performance of local government of level i regions in indonesia. previous research related to the welfare of society through analysis of sub expenditure on strategic sectors contained in the final report 2009 public expenditure analysis (pea) (cooperation between ausaid funded antara team with the local government of level i). the report says, "the majority of expenditure in the budget allocated to the various sectors of access to services in each 154  journal the winners, vol. 16 no. 2, september 2015: 152-165  sector but unfortunately it can not be followed by improvement of the indicator to increase social welfare" (afp, 2009). the results of different studies, indicated by hidayat (2013), which examines the effect of the financial performance of the capital expenditures allocation. capital expenditure aims to improve the welfare of society that is affected significantly by the financial performance area. in other words, the regionalfinancial well performance will have an impact on improving people's welfare. while kendall (2009) states that,“the growth of the community with the level of finance have a non-linear relationship. the lack of growth is constrained due to the lack of development in the financial sector, especially regional banks”. with reference to the importance of decentralization and the phenomenon of the importance of measuring the regional financial performance to the level of public welfare, the study aims to analyze how the financial performance of level i region (x) in 2009 until 2012 is measured by financial ratios, such as independence ratios, effectiveness ratio, efficiency ratio, and harmony expenditure ratio. the study also aims to analyze whether regional financial performancemeasured from theindependence ratio, effectiveness ratio, efficiency ratio, and harmony expenditure ratio contributes positive influence on the human development index (hdi) of the community in the district and city in level i region. implementation of regional autonomy stipulated in law no. 33 of 2004 on the financial balance between the central government and local government. regional autonomy in the context of power management means that the central government gives most powers to the regions. whereas in the financial context, regional autonomy means devolution of financial management authority of the central government to local government. it is considered important that the area has independence in government expenditure and development activities in the region without depending on central government (chalid, 2005). local financial statements prepared under government accounting standards (sap) as a form of accountability of the local government in the implementation of the budget for all resources entrusted to government agencies. it is regulated in law no. 17 year 2003 on state finances and regulation no. 13 year 2006 on guidelines for financial management. local government financial report is important since the application of reward and punishment system to the local government by the ministry of finance. local government financial statementswhen viewed from the side of the local people is a picture of the financial management of the region in implementing development, so as to improve the welfare of the community. in the process, the law no. 17 of 2003 article 31, states that the financial statements to be presented by the regional head at least includes: (1) realization of regional budgets report, (2)balance sheet, (3) cash flows report, and (4) notes to financial report, which is attached by regional company's financial statements. the financial performance is to determine criteria by using the financial indicators. analysis of the financial performance of a region, which is done by assessing previous performance, is carried out in order to be able to obtain information about the financial position of an entity that represents the reality and potential of ongoing performance (batafor, 2011). measurement of the financial performance of the local government is done to meet three objectives (mardiasmo, 2002) and those are to improve government performance, help allocate resources, and decision-making and realize the public accountability of local governments in generating a better public service. regional financial analisis ratio one of the tools to analyze the performance of local governments in managing local financeis to conduct financial ratio analysis of the budget that has been defined and implemented. the parties     regional financial performance …… (freska gousario; christiana fara dharmastuti) 155  concerned with financial ratios of local government (halim, 2007) is: (1) parliament as a representative of the owner of the area (community), (2) the executive as a basis in preparing the next budget, (3) the central government/province as an input in fostering the implementation of financial management, and (4) society and creditors, as the party that owns local government shares, are willing to provide loans or buy bonds. independence ratio the ratio of regional financial independence (fiscal autonomy) shows the ability of local governments in financing their own activities of governance, development and service to the public who have paid taxes and levies as a source of income needed by the regions. the percentage of selfreliance ratio indicates the ratio between the amount of local revenue with the help of the central government and loans (hidayat, 2013). hersey and blanchard in halim (2001) argues about the relationship between central and regional governments in the implementation of regional autonomy, particularly the implementation of the law on financial balance between central and regional governments, as follows: (1) the pattern of instructive relations, the role of the central government is more dominant than the independence of local government, independence ratio (0-25%), (2) the pattern of consultative relations, interference of the central government has begun to diminish and it is more on providing consultation, independence ratio (> 25% -50%), (3) the pattern of participatory relationships, the role of the central government is diminishing since the degree of independence of the autonomous region is approaching able to carry out the affairs of the autonomy (> 50% -75%), (4) the pattern of discretionary relationship, i.e without any interference of central governmnt since local government has been able to carry out the affairs of regional autonomy (> 75% -100%). regional effectiveness ratio effectiveness ratio shows the ability of local government in the realization of the planned local revenues compared with the targets that have been set based on the real potential of the region (hidayat, 2013). effectiveness values have been obtained from the comparison as mentioned above, will be measured by the criteria for assessing the effectiveness of the financial management of the area that can be seen in table 1. table 1 regional finance effectiveness assessment criteria autonomous regional financial effectiveness effectiveness ratio (%) very effective >100 effective >90 – 100 adequately effective >80 – 90 less effective >60 – 80 not effective ≤60 (source: ministry of internal affairs, decision of ministry of internal affairs number 690.900.327 year 1996 in bisma dan hery (2010)) regional financial efficiency ratio efficiency ratio is the ratio used to measure the part of the tax revenue used to cover the cost of tax collection (bhinadi, 2002). this ratio describes output and input, so it can be said that the smaller this ratio is, the more efficient the region and vice versa (handayani, 2011). by knowing the results of the comparison between the costs incurred to levy local taxes with the actual revenue 156  journal the winners, vol. 16 no. 2, september 2015: 152-165  received, and on the basis of efficiency measures, the assessment of financial performance determined in table 2. table 2 region finance efficiency autonomous regional financial eficiency eficiency ratio (%) very efficient ≤60 efficient >60 – 80 adequately efficient >80 – 90 less efficient >90 – 100 not efficient ≥100 (source: ministry of internal affairs, decision of ministry of internal affairs number 690.900.327 year 1996 in bisma dan hery (2010)) harmony expenditure ratio this study used the proportion of public expenditure because it is directly intended to improve the welfare of society. this harmony ratio is measured by comparing the actualization of total public expenditure to total budget (halim, 2007). by knowing the results of the comparison between the public expenditure actualization in region total budget by using the size of harmony expenditure, then the assessment of financial performance is determined as in table 3. tabel 3 regional harmony expenditure regional harmony expenditure harmony expenditure ratio (%) not compatible 0 – 20 adequately not compatible >20 – 40 adequately compatible >40 – 60 compatible >60 – 80 very compatible >80 – 100 (source: mahsun in batafor (2011)) people welfare as cited in section iv agenda for improving social welfare according to bappenas & undp (2010), welfare is a tranquil and prosperous state which is defined as a state of sufficiency or not deficiency. it is not only has the physical dimensions or the material but also spiritual dimension. the creation of people welfare is one of the main objectives republic of indonesia. in the development of the level of welfare measurement, physically, it can be done with the approach of the human development index (hdi) and physical quality life index (quality of life), which consists of the basic needs and gnp per capita. this study will use a benchmark of hdi, which is one approach to measure the level of human welfare according to the united nations development programme (undp). it focuses on measures of life expectancy, educational attainment, and income (bappennas & undp, 2010). the central statistics agency (bps)explains the concept of the hdi as an option for population expansion process (a process of enlarging the option of people). hdi is performed to measure the achievement of human development based on a number of basic components of quality of life. as a measure of quality of life, hdi is built through a basic three-dimensional approach. the     regional financial performance …… (freska gousario; christiana fara dharmastuti) 157  dimensions include a long and healthy life, knowledge, and a decent life. the three dimensions have a very broad sense since it is associated with many factors. for example, to measure the dimensions of health, life expectancy at birth will be used. furthermore, the combined indicator of literacy rates and average length of school are used to measure the dimensions of knowledge. as for measuring the dimensions of decent life, indicators of the people ability in purchasing to the amount of basic needs is used and seen from the average amount of expenditure per capita. the amount of expenditure per capita is the income approach representing development gains for a decent life (bps, 2012). hdi gives a comprehensive overview of the level of human development achievement as a result of development activities carried out by a state or region. the higher the value of the hdi of a region, it shows an increase of better welfare. based on the value of the hdi, undp divide, the status of human development into three criteria: low to hdi of less than 50, moderate for hdi value between 50-80, and high for hdi value of 80 upwards. as for the comparison between the district/municipal, the level intermediate status is itemized into a lower-middle when the value of the hdi value is between 50-66 and middle-upper when hdi value is between 66-80 (undp in ipm kota samarinda, 2008). hdi is part of the intended use of the budget in the implementation of development for public welfare. growth in hdi annually can be calculated by using a compound annual growth rate (cagr). value cagr is calculated by taking the nth root of hdi growth rate, where n is the number of years of the period was calculated (ivalandari, 2010). hypotheses with reference to the theoretical rationale, objectives and the research based on empirical studies to be undertaken with regard to this study, it will put forward a hypothesis as follows: h1. the more increasing regional financial independence ratio, the more positive contribution to hdi; h2. the more increasing regional financial efectiveness ratio, the more positive contribution to hdi; h3. the more increasing regional financial ratio, the more positive contribution to hdi; and h4. the more increasing regional harmony expenditure ratio, the more positive contribution to hdi. method in this study, secondary data is used limited to budget documents that have been established and implemented in time series from fiscal year 2009 to 2012. secondary data used include budget data and the actual amount of the budget obtained from the directorate general of fiscal balance (direktorat jendral perimbangan keuangan-djpk) and the human development index (indeks pengembangan manusia-ipm) obtained from the central statistics agency (biro pusat statistikbps).the scope of the research includes 19 districts and 1 town which is administratively located in the level i region. the obtained data will be used to analyze the financial performance of local government and its influence on hdi. hdi is indirectly illustrates the effect of using the budget to the level of welfare in the 20 districts/municipalities in the level i region. as for the other non-financial factors, which affect on the budget documents of each district/city, is considered constant. operational definition variables used in this study consisted of financial performance area as independent variables and hdi as the dependent variable. the financial performance of the region as an independent 158  journal the winners, vol. 16 no. 2, september 2015: 152-165  variable, covers several areas of financial ratios, such as: (1) regional financial independence ratiois the ratio between the amount of locally-generated revenue (pendapatan asli daerah-pad) and central government aid and loans. the higher this ratio is, the lower the regional dependency on the assistance of the central and the provincial government. it means that participation in paying taxes and levies as the components of pad is increasing (hidayat, 2013). (1) (2) the regional financial effectiveness ratio shows the ability of local government in the realization of the planned local revenues compared with the targets that have been set based on the real potential of the region. the higher this ratio is, the more effective the regional ability. (hidayat, 2013). (2) (3) regional financial efficiency ratio is the ratio used to measure the part of the tax revenues used to cover the cost of tax collection (bhinadi, 2002). this ratio describes output and input, so it can be said that the smaller this ratio is, the more efficient the region and vice versa (handayani, 2011). (3) (4) regional harmony expenditure ratio is measured by comparing the actualization of total public expenditure to total budget (halim, 2007). the higher the percentage of the budget allocated for recurrent expenditure means the percentage of investment expenditure (development expenditure) that is used to provide community facilities and infrastructure tend to be smaller (halim, 2007) (4) hdi is as an option for population expansion process (a process of enlarging the option of people). hdi is performed to measure the achievement of human development based on a number of basic components of quality of life. as a measure of quality of life, hdi is built through a basic threedimensional approach. the dimensions include a long and healthy life, knowledge and a decent life(bps, 2012). meanwhile, it should also be known that the growth of hdi over the years as part of the intended use of the budget in the implementation of development for public welfare. growth in hdi annually can be calculated by using a compound annual growth rate (cagr). value cagr is calculated by taking the n root of hdi growth rate, where n is the number of years of the period was calculated (ivalandari, 2010). cagr can be formulated as: ^ 1 (5) this study aims to determine the effect of variables were analyzed using multiple linear regression analysis technique which is an analytical tool to look at the effect of a number of independent variables on the dependent variable (stanislaus, 2009). the data were processed with spss statistics 21. hypothesis testing is done using panel data regression of independent variables on the dependent variable. following is the regression equation: ipm= α + β₁kd + β₂efekd + β3efikd + β4kb + � (6) ipm = human development index kd = regional financial independence efekd = regional financial effectiveness     regional financial performance …… (freska gousario; christiana fara dharmastuti) 159  efikd = regional financial efficiency kb = regional harmony expenditure β = the regression coefficients for each independent variable (x). results and discussion normality test results based on the normality test results by using the normal probability plot, it can be seen that the data (point) spread regularly around the diagonal line. this indicates that the data used is normally distributed, as seen in figure 1. figure 1normal graphic p-p plot of regression standardized residual multicolinearity test results based on the test results multicolinierity, it is known that regional financial independence ratio, regional financial effectiveness ratio, regional efficiency ratio, andregional financial harmonyexpenditure ratio show the value of tolerance> 0:10 and vif <10.it can be concluded that the independent variables used in the regression of this study is free of multicolinierity or in other words are trustworthy and objective, as shows in table 4. table 4 multicolinearity test results variable tolerance vif decision kd 0,598 1,673 free multicolinearity efekd 0,859 1,164 free multicolinearity efikd 0,738 1,355 free multicolinearity kb 0,673 1,487 free multicolinearity source: processed data (spss statistics 21). heteroscedasticity test result based onheteroscedasticity test result through the visibility of certain pattern on scatter plot graphic betweenresidual *zresid to the prediction value of dependent variables *zpred, it is 160  journal the winners, vol. 16 no. 2, september 2015: 152-165  known that heteroscedasticity fails due to invisibility of certain pattern where the dots are spreading above and below number 0 on y axes. thus it can be assumed that the residuals have constant variance (homoscedasticity), as seen in figure 2. scatterplot dependent variable: ipm regression standardized predicted value 3210-1-2-3 r eg re ss io n s ta nd ar di ze d r es id ua l 3 2 1 0 -1 -2 -3 figure 2 heteroscedasticity test autocorrelation test results based on the autocorrelation test results below, the value of the durbin-watson statistic test for 1841, this means the residual or error (�) of the multiple regression model hdi = α + β₁kd + β₂efekd + β3efikd + β4kb + �, there is no autocorrelation or independent, as shown in table 5. table 5 summarymodel model r r square adjusted r square std. error of the estimate durbin-watson 1 .538(a) .290 .252 2.98931 1.806 a predictors: (constant), kb, efikd, efekd, kd b dependent variable: ipm financial performance variable analysis table 6 represents the average ratio of financial performance per region in 2009-2012: tabel 6 the average financial performance per region in 2009-2012 district/city averageyear 2009-2012 no. name kd efekkd efikd kb 1 sb 4.41% 105.14% 17.82% 27.27% 2 st 6.97% 108.83% 11.70% 29.54% 3 k 5.59% 103.96% 10.47% 21.32% 4 tts 5.08% 104.48% 21.90% 15.72% 5 ttu 5.70% 105.93% 26.92% 26.74% 6 b 4.56% 105.25% 17.16% 25.28% 7 a 6.75% 106.50% 8.72% 28.48% 8 l 3.70% 105.41% 16.93% 39.52% tabel 6 the average financial performance per region in 2009-2012 (continued)     regional financial performance …… (freska gousario; christiana fara dharmastuti) 161  district/city averageyear 2009-2012 no. name kd efekkd efikd kb 9 ft 7.23% 104.58% 6.66% 29.27% 10 s 3.94% 107.21% 23.16% 25.97% 11 e 5.69% 109.44% 12.94% 41.01% 12 ng 6.00% 104.05% 18.94% 23.63% 13 mg 6.94% 106.77% 13.74% 16.29% 14 rn 3.51% 111.87% 12.76% 45.47% 15 mb 6.61% 109.49% 7.05% 47.73% 16 sbd 3.91% 110.07% 10.38% 64.33% 17 st 6.02% 109.58% 14.97% 35.23% 18 n 4.56% 106.81% 16.18% 19.54% 19 mt 7.08% 102.22% 15.84% 18.03% 20 kk 10.13% 110.42% 3.26% 15.88% rate of level i region 5.72% 106.90% 17.82% 29,81% variable human development index variable human development index (hdi) is the result of the construction of the three main dimensions, namely health, education, and decent living standards community. table 7 presents a table of data processed hdi 19 districts and 1 town in 2009 until 2012. table 7 human development index (hdi) of district/city, 2009-2012*) district/city 2009 2010 2011 2012*) rate cagr 1. sb 62.9 63.85 64.31 64.88 63.99 1.04% 2. st 61.41 61.8 62.5 63.33 62.26 1.03% 3. k 65.58 66.00 66.77 67.21 66.39 0.82% 4. tts 65.28 65.93 66.29 66.61 66.03 0.67% 5. ttu 66.95 67.49 67.93 68.57 67.74 0.80% 6. b 63.91 64.34 64.75 65.52 64.63 0.83% 7. a 68.16 68.48 68.92 69.35 68.73 0.58% 8. l 67.15 67.66 68.07 68.69 67.89 0.76% 9. ft 67.77 68.18 68.71 69.19 68.46 0.69% 10. s 67.29 67.87 68.22 68.74 68.03 0.71% 11. e 66.59 67.11 67.58 68.08 67.34 0.74% 12. ng 69.01 69.45 70.13 70.63 69.81 0.78% 13. mg 66.83 67.16 67.81 68.30 67.53 0.73% 14. rn 65.8 66.18 66.61 67.10 66.42 0.65% 15. mb 64.91 65.33 66.09 66.84 65.79 0.98% 16. sbd 60.54 60.99 61.42 62.48 61.36 1.06% 17. st 59.84 60.8 61.22 61.70 60.89 1.03% 18. n 65.97 66.31 66.59 67.23 66.53 0.63% 19. mt 65.02 65.92 66.55 67.06 66.14 1.04% 20. kk 76.94 77.31 77.71 78.37 77.58 0.62% level i region 65.89 66.41 66.91 67.49 66.68 note: *) temporary number– source: ipm dt1 2012, bps. based on table 7 in 2009 and 2012, the average hdi of 66.68indicates that the level i regions (excluding new autonomous region u) belong to the upper-middle category.improvement of social welfare can be seen from the hdi, which if it is calculated with compound annual growth rate 162  journal the winners, vol. 16 no. 2, september 2015: 152-165  (cagr), it can be concluded that the growth rate of this variable only ranged between 0% and 1%. this indicates that trimming the shortfallfrom the use of the local budget that is expected to reach its maximum value, is still very small. on theaverage hdi, 20 districts/cities are in the medium category, and it requires attention from local governments in improving the welfare of society. regression analysis, f statistic test, t statistic test based on the results of f statistic tests that can be seen in table 8, the output regression shows a significance value of 0.000 or below the 0.05 significance level. it can be concluded that during the period used, variable kd, efekd, efikd and kb can deliver variable influence on the hdi.adjusted r² magnitude is equal to 0.252. this means that 25.2% ipm variation can be explained by four independent variables, namely regional independence, regional financial effectiveness,regional financialefficiency, and harmony expenditure. while the rest is explained by other causes beyond the model. table 8 hypothesis test results summary model ipm= α + β₁kd + β₂efekd + β3efikd + β4kb + � resultsof regression equation ipm= 63.730 + 0.603kd + 0.017efekd 0.040efikd 0,058kb + 2.98931 f test 7.641 f sig 0.000 adj r² 0.252 variable β t sig decision (constant) 63.730 0.000 kd 0.603 2.607 0.011 h1 accepted efekd 0.017 0.276 0.783 h2 rejected efikd -0.040 -0.793 0.430 h3 rejected kb -0.058 -2.371 0.020 h4 rejected dependent variable: human development index � = 2.98931 source: processed data (spss statistics 21). analysis of the influence of regional financial independence level on hdi the results shown in table 9 indicates that the variables regional financial independence ratio provide a significant positive influence on changes in the hdi. this explains the conditions that the increase ofregional financial capacity will have an impact on improving hdi of 20 district/cities level i region, and vice versa. although based on the table 6 in 2009 to 2012, the highest level of theindependence ratio (kd) only 10:13%, with an average value of 5.72%, the ratio of local financial independence can be classified into the category of low financial capabilities with a pattern of instructive relationships.this condition proves that the funds from local revenue will be used positively to the development of society, despite the financial contribution of the region is still very small, it will also have an impact to a-not-to-big increase in the hdi.it is also evident from the data composition of the balancing funds that the greatest composition of total local revenue comes from equalization funds obtained from the central government.     regional financial performance …… (freska gousario; christiana fara dharmastuti) 163  table 9 calculation results composition fund balance description fiscal year 2009 2010 2011 2012 daerah tingkat i 77% 73% 64% 43% source: processed data analysis of the influence of regional financial effectiveness level on hdi the results shows that the ratio of local financial effectiveness are classified into the category of highly effective (106.90%), the level of realized income regions can exceed revenue targets that had been budgeted in the budget document. although it is very effective,it does not give significant effect on the hdi.this is presumably since the greatest composition of regional revenues budgeted and applied is derived from the total balancingfund, so in planning the use of local revenue based on the real regional potential does not have an impact on the hdi. analysis of the influence of regional financial efficiency level on hdi the results show that the regional financial efficiency ratio that are classified as highly efficient (17.82%), it has no significant effect on the hdi. this condition indicates although local authorities have a very efficient level of government tax revenues which can cover costsbut still a policy related to the efficiency and tax revenues do not give impact on regional hdi. analysis of the influence of regional harmony expenditure level on hdi the results show that the level of regional harmonyexpenditure of districts/citiesis classified as less compatible and not positive on the hdi. it can be seen that only 29.81% of the total budget is applied for the benefit of the public, while the budget applied for the benefit of the apparatus is equal to 70.19%.it is certainly not in accordance with the mandate of law number 32 of 2004 in the framework of public accountability, that local government can be expected to optimize the use of the budget is more appropriate. the test results indicate the negative effect on regional harmony expenditure level on ipm. it can be presumed the possibility of a public expenditure or expenditure that is expected to benefit directly to the community. however, in the process of implementation of the budget actually realized in the public interest only a small portion of the total budget for the public. regional harmony expenditure ratio of 20 districts/cities is classified as less compatible. it shows the opposite result with increased rates of hdithat is declining and the percentage cagr of hdi which only amounted to 0% to 1%. conclusion based on the results of data analysis and discussion that has been stated previously, the district/city government is expected to pay more attention, accommodate, and empower optimally utilize the resources owned by the pad area. revenue budget preparation process, such as the use of sources of retribution, the development potential of the mining, and agriculture sectors, will promote the realization of the optimal pad. pad can be increased thereby it will reduce the regional dependence on the central government and provincial aid. 164  journal the winners, vol. 16 no. 2, september 2015: 152-165  the principle of performance-based budgeting and the implementation of management functions need to be a serious concern for implementation. it aims to reduce the number of regional expenditures, which is very inefficient.budget preparation and realization, in the future expected to consider the financial ratios so that each postal area of serious concern can be increased again. the availability of adequate human resources in the area with a good standard of competence that would attract the interest and the interest of investors from outside the area. therefore, the local people who have been successful in overseas are expected to come home and re-build the region. further research is expected attracted to the financial performance and the welfare of local communities. it can also add a new variable as the dependent and independent variable in accordance with the development of posts in the preparation of the budget and the realization of the budget, so that the results will be more relevant to the times and knowledge increase, especially in the field of local finance in indonesia. references antara. (2009). australia-nusa tenggara assistance for regional autonomy dan pemerintah provinsi ntt 2009. analisa pengeluaran publik nusa tenggara timur. kupang. bappenas & undp indonesia. (2010). peningkatan kinerja pembangunan daerah: alat-alat praktis dari indonesia. jakarta: undp indonesia. batafor, g.g. (2011). evaluasi kinerja keuangan daerah dan tingkat kesejahteraan masyarakat kabupaten lembata – provinsi ntt.program pascasarjana. denpasar: universitas udayana. bhinadi, a. (2003). indikator keuangan daerah.makalah disajikan dalamseminar keuangan daerah kerjasama pusat studi ekonomi, keuangan, dan industri lembaga penelitian upn “veteran” yogyakarta dengan jurusan ekonomi pembangunan fakultas ekonomi upn “veteran”. yogyakarta. diakses dari http://www.arditobhinadi.com/download.php bisma, i.d.g., &susanto, h.(2010). evaluasi kinerja keuangan daerah pemerintah provinsi nusa tenggara barat tahun anggaran 2003-2007.(online). e-journal on-line vol. 4, no. 3, (http://unmasmataram.ac.id/wp/wp-content/uploads/12.-i-dewa-gde-bisma.pdf) chalid, p. (2005). keuangan daerah: investasi dan desentralisasi. jakarta: pt. percetakan penebar swadaya. halim, a. (2007). akuntansi sektor publik: akuntansi keuangan daerah. jakarta: salemba empat. halim, a. (2002). manajemen keuangan daerah. yogyakarta: upp akademi manajemen perusahaan ykpn. handayani, r.s. (2011). pengaruh rasio keuangan daerah terhadap belanja modal untuk pelayanan publik dalam perspektif teori keagenan (studi pada kabupaten dan kota di jawa timur). (online). e-journal on-line, (eprints.undip.ac.id/30929/i/jurnal.pdf.). hidayat, m.f. (2013). analisis pengaruh kinerja keuangan daerah terhadap alokasi belanja modal. (online).e-journal on-line, (http://jimfeb.ub.ac.id/index.php/jimfeb/article/download/580/523, diakses 18 juli 2013).     regional financial performance …… (freska gousario; christiana fara dharmastuti) 165  indeks pembangunan manusia tahun 2009-2012 kabupaten kupang dalam: www.bps.go.id/ntt. ivalandari. (2010). penentuan nilai wajar saham melalui model discounted cash flow dan relative valuation (studi kasus: saham pt. bumi resources, tbk. periode 2005 – 2009). program pascasarjana. jakarta: universitas indonesia. kendall, j. (2009). local financial development and growth. policy research working paper 4838, the world bank financial and private sector vice presidency mardiasmo.(2002). akuntansi sektor publik. yogyakarta: andi. republik indonesia. (2006). peraturan menteri dalam negeri no. 13 tahun 2006 tentang pedoman pengelolaan keuangan daerah. sekretariat negara. jakarta. republik indonesia. (2004). undang-undang nomor 32 tahun 2004 tentang pemerintah daerah. sekretariat negara. jakarta. republik indonesia. peraturan menteri keuangan tentang perkiraan alokasi biaya pemungutan pajak tahun 2009-2012. sekretariat negara. jakarta. republik indonesia. (2004). undang-undang nomor 33 tahun 2004 tentang perimbangan keuangan antara pemerintah pusat dan pemerintah daerah. sekretariat negara. jakarta. republik indonesia. (2003). undang-undang nomor 17 tahun 2003 tentang keuangan negara. sekretariat negara. jakarta. uyanto, s.s. (2009). pedoman analisis data dengan spss. yogyakarta: graha ilmu. yayasan indonesia forum &the united states agency for international development/office of transitional initiatives. (2000). aspek finansial otonomi daerah: laporan kajian di delapan propinsi.  cover_0315.fh11 ��������� ���� ������� ��� �� ������ ������������� ��������� ���� ��� ����� � ��� ��� ����������� ���� � ������� ������� ������ �� ��� � ������������ �������� ������� ��� �!����"���#�������$%&��!�'�&()�!&��*��� ����+ ���&!�,����"�����$%&��!�'�&()�!&��*��� ����+ -�!&�������)��!&��$��"�������'�&()�!&��*��� ����+ .)(����$���&��'�&()�!&��*��� ����+ ���!�/�&������&0&��$1���"��������'�&()�!&��*��� ����+ �� ����� ������� ��������������2�2� ��)��&�� �������� �� � � �3&�&"�!��������� #��)��4���� 3&������0&��&� 5��&� ��"�6��& � �� ������ 5������������ �������������� ���� �� �)!)���������1)���������1���!0)��700&�) %��'��'�&()�!&�� �����) �8�"9�!*��� #):����)�� �������; #):����)�� *��� �����%��������<� 4� ���� �<������)=� ��;�> �"�&�?��!������@:&��! )��*���������@:&��! )�� �!�������� " ���# 4�:�&!�)���6&�)����)���$�����������)9�)":)�+ ����?����� ���� �� ������ ������������� ������� ��� ��������� ���� ������� ��������� ���� ��� ����� � ��� ��� ����������� ���� � ������� �"!#�!#� � ����� !�$�� 7���,##�����#� � �����������*� ��-�����/:�� ������!��(�����/:�� ������!��-�7��*���!�� ���*������-� ����'�� ����������������������������������������� � % $� �& ���'�������( !������ �& � �����( !������ )�*+������ �/:��/����������#�7�����*��� �������.��-�+������������� �+�����:������#�7���$�����������* 8�*����#�7���������������.��-��! ��/?�,/:����������*!��#���*��� ����9�//����������.��-��������������� �� � ��� ���� ������ ,������( ������ � ������� � �����( ��+����� ������ ��::��-�����9� ��/���,=:������������-�/����������-�� �#���9� ��/���5�!���! ����������%!:��/��.�����'�*���'�.��������������������������������������������������������������������������������� �� ,��� �������( -������� �� ����� a����� �+##�����-����*����+������/�������a�����!��#�,����/�� �bcb������� ��!����������������������������� <� .���� ������ ���( .��*���� 7���,##�����#�9� ��$���*��*)��������*�,�����)���*�����.�"���� �#�����#�������-�9�/:��!�5� ��*������*��� �������.�,=����-� ���������<� �< -���� ,��������( ���� -���� /����� 7���,##�����#�5��*�� ��:���(��*�,/:��!�� d���'����� #������ ���e�����!�9�������$��� �����#�"7�c�"�*������������������������������������������������������������������ �� �������� ����� #�����( ��� .���� 0���� +���! � ��#�$��� ������.��-�"���� ��������!'���?�7���+����#�f�����-������#����3�/��������������������; �< ����� 1����� % 2�( % �'�� ,����� �� �������� 7�����#��������#�8�����������������# ���(��* ��/:�� ����!��-�1���*!����,������� 9� �*2 ����������� ;� microsoft word 02_ak_agustini_rev2 analysis of dynamic …… (agustini hamid) 91  analysis of dynamic portfolio allocation of indonesian lq45 during 2005 – 2011 following the markowitz theory agustini hamid accounting department, faculty of economic and comunication, bina nusantara university jln. k.h. syahdan no 9, palmerah, jakarta barat, 11480 agustinihamid55@gmail.com abstract the research observed that equity portfolio and investment managers were facing challenges in determining the optimum portfolio, especially during the turbulent times. as a result, they needed to implement portfolio management strategies to overcome the risk associated with stock return volatility in turbulence periods. this research focused on selecting stocks from the lq-45 index during 2005-2011 using the markowitz theory combining the solver linear programming. the portfolio selection method which has been introduced by markowitz (1952) used variance or standard deviation as a risk measurement. the result of this research proves that the composition of the portfolio is not the same in the different period. in the bearish period, the composition of the optimum portfolio is dominated by the banking sector and manufacture sector. in the bullish period, the optimum portfolio is dominated by the commodity stocks. keywords: dynamic portfolio, markowitz theory, linear programming introduction according to bodie, kane and marcus (2009), an investment is the current commitment of money or other resources in the expectation of reaping future benefits. while, based on horn in bodie, kane and marcus (2009), investment is the activity conducted by utilizing current cash to get the return in the future. in essence, investment is postponing consumption to obtain the value or greater compensation in the future. according to bernstein and damodaran (1998), the investment process consists of five steps to set investment goals. first, prescribing investment goals. the investment goals categorized based on the time horizon, whether it is for short, medium, or long term investment. second, establish investment policy. how to distribute investment funds to a proper asset allocation. third, choose portfolio strategy. selecting portfolio strategy which consistent with the objectives and investment policy guidelines of the investor. the last step is measuring and evaluating portfolio performance. in this step, portfolio performance is measured and then evaluated periodically. the evaluation covers not only the expected return of the investment but also possible risks. equity portfolio and investment managers are facing challenges in determining the optimum portfolio, especially during the turbulent times. they need to implement portfolio management strategies to overcome the risk associated with stock return volatility in turbulence periods. reilly and brown (2009) have mentioned that it is important to allocate fund efficiently due to capital limitation. portfolio managers could choose to invest in risk-free assets, risky assets, or the combination of both. investment assets can be categorized into broad asset classes, such as stocks, bonds, real estate, commodities, and others. asset allocation process is important. asset allocation is categorized into 92   journal the winners, vol. 17 no. 2, september 2016: 91-101  two, passive asset allocation which based on the mean-variance framework (markowitz portfolio) and active asset allocation which aimed to acquire profits from market movements. switching investment allocation according to the market trends from overvalued assets to undervalued asset and vice versa is possible. another strategy is to buy a call option if the market is expected to rise or otherwise buy a put option if the market is expected to decline. to mitigate the risk due to stock market speculations, portfolio managers prefer to invest their portfolio in large market capitalization and liquid stocks. active portfolio managers have their own preference of stocks in their portfolio; following their own terms and analysis, they pick stocks with large market capitalization and actively traded stocks. on the contrary, passive managers do not pick stocks and do research on portfolio allocation. instead, they take the stocks from the index and allocate them following the allocation in the index as decided by the index manager. for instance, if the passive managers decided to follow the lq-45, they will select stocks from the lq-45 list and weight the allocation following their respective allocations in the lq-45. in indonesia, passive portfolio managers prefer to invest in lq-45 stocks because the stocks have big market capitalization and liquid stocks. the main objective of investors when investing in an equity mutual fund (reksadana saham) is to get the maximum return from their investments. however, rational investors want to maximize return and minimize risk. unfortunately, it is difficult to minimize risk of portfolio that has 80% equity allocation or more during financial downturns. data shows that all reksadana saham posted negative return during the 2008 financial crisis, and at least 50% of them performed worse compare to jakarta composite index (jci) and index liquid 45 (lq-45) in 1952, harry markowitz developed the portfolio theory. prior to his article, he has mentioned the necessity of improvements on theory of money in 1935. he introduced risk in his analysis and stated that the risk-factor comes into problem in two ways. first, risk-factor may affect the expected period of investment, and second, risk-factor may affect the expected net yield of investment. modern portfolio theory (mpt) or portfolio theory was introduced by harry markowitz in 1952. the theory focused on assessing the risks and returns of individual securities in construction their portfolios. gallati (2003) has also mentioned in his book that he could not demonstrate a formula relating risk of individual assets to risk of the portfolio as the whole. since this work is based on mpt, he will consider the model developed by markowitz and his work on mean-variance analysis. he states that the expected return (mean) and variance of returns of a portfolio are the whole criteria for portfolio selection. these two parameters can be used as a possible hypothesis about actual behavior and a maxim for how investors ought to act. fabozzi, francis and markowitz (2002b) have illustrated several common asset allocations, portfolio management, and portfolio construction in his journal, picturing that it is valid to expect that mpt will occupy a permanent place in the development of theory and practices of finance portfolio. building a stock portfolio is the difficult task because the characteristic of individual stocks contain uncertainty. therefore, a benchmark is needed and calculation to determine portfolio performance must be performed. based on the background, the research is about analysis dynamic portfolio allocation of indonesia lq-45 stocks following the markowitz theory. analysis of dynamic …… (agustini hamid) 93  methods in 1952, harry markowitz developed the portfolio theory. prior to his article, he mentioned the necessity of improvements on the theory of money in 1935. he has introduced risk in his analysis and stated that the risk-factor comes into the problem in two ways. first, risk-factor may affect the expected period of investment, and second, risk-factor may affect the expected net yield of the investment. markowitz model relies on the following assumptions: (1) investors seek to maximize the expected return of total wealth, (2) all investors have the same expected single period investment horizon, (3) all investors are risk-averse, that is they will only accept a higher risk if they are compensated with a higher expected return, (4) investors base their investment decisions on the expected return and risk, (5) all markets are perfectly efficient. diversification reduces risks on a portfolio. diversification can be loosely measured by some statistical measurement, intra-portfolio correlation. it has a range of -1 to 1and measures the degree to which the various asset in a portfolio can be expected to perform in a similar fashion or not. markowitz model suggests that it is possible to reduce the level of risk below the diversifiable risk. the risk is defined in terms of loss, exposure to the chance of injury or loss; a hazard or dangerous chance. but, a more appropriate definition of risk for investors is the uncertainty of expected returns. most investors think of risk as some loss. the potential for loss is also the reason they earn a return. loss aversion refers to the concept that the pain of losing a sum of money is greater than the pleasure of gaining the same amount of money. this is incorporated into the optimization process that uses risk and return trade-offs of different asset classes to build portfolios. based on markowitz theory, the expected returns for a portfolio is simply the weighted average of the expected rate of returns for the individual investments in the portfolio. the weights are the proportion of total value of the individual investment. the expected rate of return for a portfolio is simply the weighted average of the expected rates of return for the individual asset in the portfolio. the weights are the proportion of total value for the individual asset. to calculate the portfolio return, the general formula is defined as (1) where: wi = the weight of an individual asset in the portfolio or the percent of the portfolio in asset i ri= the expected rate of return for asset i fabozzi et al. (2002a) have mentioned that risk is the chance or possibility that investors face from their investments. according to chen et al. (2009), risk has two components; they are the systematic and unsystematic risk. according to markowitz (1959), portfolio risk is influenced by the weighted average of each individual asset risk and the covariance between assets that make up the portfolio. the variance and standard deviation of returns are common measures of risk. standard deviation is used to calculate the risk of realized return while risk from expected return is used variance as the measurement. (2) where: σij= σiσjρij and ρijis correlation coefficient between assets i and j. 94   journal the winners, vol. 17 no. 2, september 2016: 91-101  according to markowitz (2011), variance or standard deviation of returns is common measure of investment risk. both of these are measure of the variability of a distribution of returns about its mean or expected value. the variance or standard deviation is a measure of the variation of possible rates of return ri from the expected rate of return e(ri) as follows: (3) where pi is probability of the possible rate of return ri. standard deviation (4) brigham and daves (2010) have defined that efficient portfolio is the combination of investment that gives same return with minimal risk. the efficient frontier emphasizes a geometric interpretation of asset combinations. in this frontier, a market portfolio will be allocated which should be preferred by all investors, under the assumptions that all investors are risk averse and prefer more return to less. figure 1 shows the efficient frontier line. figure 1 the efficient frontier line to calculate the weighting of any stocks that are used in a portfolio, first, we must determine the minimum and maximum limits of the average return. mean-variance formula is to obtain the expected return, variance and standard deviation of the portfolio. linear programming by solver excel is used to find each weight of stocks in one portfolio. the solver requires changing cells, a target cell for minimization and the specification of constraints, which acts as the restriction on feasible values for the changing cells. the target cell is to minimize the standard deviation of return for will focuses on the composition of shares that give the minimum risk. the model consists of following components, such as decision variables, objective function, and constraints. the decision of the problem is represented using symbols such as x1, x2, x3, xn. these variables represent unknown quantities (number of items to produce, weighted of shares to invest). the objective of the problem is expressed as a mathematical expression in decision variables. the objective of the research is minimizing the risk. analysis of dynamic …… (agustini hamid) 95  minimize σport = wi 2 σ i 2 + wiwjcov(ij (5) o )i ≠j the constraints of the limitation or requirements of the problem are expressed as inequalities or equations in decision variables. (6) the total multiplication of weighted shares and expected return of each stock are equal with portfolio return. the total proportion of all shares in portfolio are equal one. (7) constructing equity portfolio needs complicated process, especially when higher return portfolio is required. by using the markowitz theory, first is calculating the expected returns, standard deviation, and variance of stocks. the next step is to compute correlation and covariance which measure the degree of two variables move together about their individual means during the same period. after covariance has been computed, the standard deviation of the portfolio can be calculated. next step, the stocks will be mixed into set portfolio using the formula mean-variance above combined with linear programming (solver excel). to determine the optimum portfolio, this research will calculate risk-adjusted return (rar) which divided portfolio return with standard deviation. the samples of data will be retrieved from idx, which consist of stocks that are included in lq-45 index. the stock list of lq-45 announced every second quarter of each year. the markowitz theory requires the sample to have positive expected return e(ri). period of research is 2005 up to 2011. in this period, indonesia has experienced several market trends. in 2006 to 2007, indonesia was in the upward moving market trend (bullish) and downward moving market trend (bearish) during 2008 until the beginning of 2009. the recovery period started at the end of 2009. in 2010, the market posted the highest return. the market is still favorable in 2011, indicated by jci index was closed at 3821.992 at the end of the year. it means that the data taken from this period are representing indonesian stock market in all condition. population for this research is lq-45 stocks during 2005-201. amongst this population, there are 16 stocks that have positive expected return in bullish period while there are 12 stocks in bearish period. all of them can be seen in table 1. 96   journal the winners, vol. 17 no. 2, september 2016: 91-101  table 1 list of 16 stocks no. name of the company idx sector shares index weight code ( in mn) (%) 1 pt astra international tbk asii automotive 40,483.55 11.96 2 pt bank central asia tbk bbca banking (finance) 24,408.46 7.80 3 pt bank mandiri tbk bmri banking (finance) 23,100.00 7.18 4 pt telekomunikasi indonesia tbk tlkm telecommunication 20,160.00 6.88 5 pt bank rakyat indonesia tbk bbri banking (finance) 24,422.47 6.52 6 pt perusahaan gas negara tbk pgas utility 24,241.51 3.74 7 pt united tractor tbk untr heavy equipment 3,730.14 3.68 8 pt bank danamon tbk bdmn banking (finance) 9,488.80 2.43 9 pt indofood sukses makmur tbk indf consumer goods 8,780.43 1.86 10 pt astra agro lestari tbk aali agriculture 1,574.74 1.46 11 pt tambang batubara bukit asam tbk ptba mining 2,304.13 1.42 12 pt vale indonesia tbk inco mining 9,936.34 1.02 13 pt indosat tbk isat telecommunication 5,433.90 0.59 14 pt aneka tambang tbk antm mining 9,538.46 0.55 15 pt medco international tbk medc mining 3,332.50 0.18 16 pt bakrie sumatera plantation tbk unsp agriculture 13,720.47 0.10 source : bloomberg results and discussions table 2 indicates the calculation of the expected return, variance and standard deviation in bearish period. there are 12 stocks that included in bearish period, while there are 16 selected stocks in bullish period. table 2 the expected return, variance, standard deviation in bearish period and bullish period stocks e(ri) var σ (monthly) bmri 5.9% 4.6% 21.3% asii 5.7% 2.1% 14.5% untr 5.5% 6.4% 25.3% bdmn 5.2% 5.1% 22.7% bbri 4.7% 4.1% 20.3% bbca 4.2% 6.3% 25.0% pgas 3.9% 4.5% 21.2% tlkm  2.4% 4.8% 21.8% indf 1.9% 3.2% 17.8% ptba 1.3% 5.3% 23.0% inco 0.4% 1.6% 12.6% aali 0.3% 6.8% 26.0% stocks e(ri) var σ (monthly) untr 6.7% 2.3% 15.1% antm 6.5% 1.0% 10.2% aali 6.1% 1.3% 11.6% inco 5.6% 1.1% 10.3% pgas 5.5% 1.1% 10.6% indf 4.8% 1.0% 9.9% ptba 4.5% 0.5% 7.3% bmri 3.4% 1.6% 12.8% tlkm 2.6% 1.6% 12.5% bbca 2.2% 1.0% 10.2% asii 1.9% 1.7% 13.1% medc 1.5% 1.4% 11.9% bbri 1.3% 2.0% 14.0% isat 1.3% 0.5% 7.3% bdmn 0.8% 1.9% 13.9% untr 0.7% 1.0% 10.0% in this research, the decision variables are the weight of stocks that should be invested in bearish and bullish period. in bearish period, there are 12 stocks that have positive expected return. there are aali, asii, bbca, bbri, bdmn, bmri, inco, indf, pgas, ptba, tlkm, and untr. while, there are 16 stocks that have positive return in bullish period. there are aali, antm, asii, bbca, bbri, bdmn, bmri, inco, indf, isat, medc, pgas, ptba, tlkm, unsp and untr. the research will calculate the proportion of each shares in portfolio. analysis of dynamic …… (agustini hamid) 97  figure 2 solver parameters figure 2 shows that the calculation weight of shares in the bearish period. figure 2 shows that q52 is the portfolio variance. d52 – o52 is the weight of each stock in the portfolio, p52 is the sum of weights, and r52 is the expected return of the portfolio. it shows that set target cell is the objective of the solver ($q52$) which in this case is to minimize the variance of a portfolio. changing cell refers to the weight of the stocks in a portfolio ($d$52:$o$52). the sum of the weights will be constrained to 1 ($p$52=1), and it means that each weight of stocks has to be zero or more ($d$52: :$o$52 >= 0). the weight of stocks can change depend on the expected return that been set. after calculation e(ri), variance and standard deviation of each stock in the bearish period and bullish period use the linear solver programming, the optimum portfolio (rp) that lies in portfolio f in bearish. while in the bullish period, the optimum portfolio lies in portfolio j. the matrix optimum portfolio of each period can be seen in table 3 and table 4. table 3 optimum portfolio construction in bearish period portfolio aali asii bbca bbri bdmn bmri inco indf pgas ptba tlkm untr sum stdev return portfolio rar a 73.1% 0.0% 0.0% 0.0% 0.0% 0.0% 0.268686 0.0% 0.0% 0.0% 0.0% 0.0% 100.0% 19.5% 0.3% 0.015353 b 50.1% 0.0% 0.0% 0.0% 0.0% 0.0% 42.3% 0.0% 0.0% 7.6% 0.0% 0.0% 100.0% 16.6% 0.4% 0.024113 c 21.3% 0.0% 0.0% 0.0% 0.0% 0.0% 19.8% 13.6% 0.0% 17.4% 27.9% 0.0% 100.0% 9.6% 1.3% 0.136117 d 14.2% 0.0% 7.7% 1.1% 0.0% 0.0% 13.5% 12.2% 6.8% 13.3% 31.0% 0.0% 100.0% 7.8% 1.9% 0.244586 e 10.8% 1.1% 11.9% 4.1% 2.5% 0.4% 10.3% 10.4% 8.8% 10.7% 27.8% 1.1% 100.0% 6.9% 2.4% 0.350135 f 2.8% 8.9% 17.5% 8.6% 7.6% 9.0% 2.8% 5.2% 10.9% 4.2% 16.7% 5.8% 100.0% 6.5% 3.9% 0.601683 g 1.2% 10.5% 18.6% 9.5% 8.6% 10.7% 1.4% 4.1% 11.3% 2.8% 14.5% 6.7% 100.0% 6.9% 4.2% 0.612902 h 0.0% 19.9% 15.8% 11.8% 13.2% 21.6% 0.0% 0.0% 6.0% 0.0% 0.0% 11.8% 100.0% 9.2% 5.2% 0.563628 i 0.0% 26.3% 4.2% 10.2% 14.9% 29.7% 0.0% 0.0% 0.0% 0.0% 0.0% 14.7% 100.0% 10.9% 5.5% 0.503465 j 0.0% 32.6% 0.0% 0.0% 11.6% 39.7% 0.0% 0.0% 0.0% 0.0% 0.0% 16.0% 100.0% 12.7% 5.7% 0.449782 k 0.0% 10.5% 0.0% 0.0% 0.0% 89.5% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 100.0% 19.3% 5.9% 0.306333 98   journal the winners, vol. 17 no. 2, september 2016: 91-101  σ = 6.9%, e(ri) = 4.2% 0.0% 1.0% 2.0% 3.0% 4.0% 5.0% 6.0% 7.0% 0.0% 5.0% 10.0% 15.0% 20.0% 25.0% portfolio g table 4 optimum portfolio construction in bullish period portfolio aali antm asii bbca bbri bdmn bmri inco indf isat medc pgas ptba tlkm unsp untr sum stdev return portfolio rar a 0.0% 0.0% 0.0% 0.0% 0.0% 91.9% 0.0% 0.0% 0.0% 8.1% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 100.0% 9.5% 0.7% 0.07350               b 0.0% 0.0% 0.0% 0.0% 0.0% 43.3% 0.0% 0.0% 0.0% 45.7% 0.0% 0.0% 0.0% 11.0% 0.0% 0.0% 100.0% 6.2% 0.8% 0.12883               c 0.0% 0.0% 2.4% 20.3% 6.1% 18.1% 6.3% 0.0% 0.0% 21.6% 0.0% 0.0% 0.0% 25.2% 0.0% 0.0% 100.0% 3.8% 1.2% 0.31507               d 0.0% 0.0% 4.6% 20.1% 7.4% 15.5% 7.9% 0.0% 0.0% 18.7% 2.3% 0.0% 0.0% 23.5% 0.0% 0.0% 100.0% 3.6% 1.3% 0.36315               e 0.0% 0.0% 6.8% 19.0% 8.4% 12.0% 9.3% 0.0% 2.9% 14.9% 5.3% 0.0% 0.0% 20.8% 0.0% 0.7% 100.0% 3.3% 1.5% 0.45087               f 1.0% 0.0% 6.6% 16.8% 7.8% 10.0% 8.8% 2.0% 3.8% 12.5% 5.4% 2.0% 0.6% 18.2% 1.0% 3.5% 100.0% 3.1% 1.9% 0.61515               g 2.6% 0.5% 6.3% 15.4% 7.3% 8.8% 8.4% 2.7% 4.0% 11.1% 5.3% 3.0% 1.7% 16.7% 1.7% 4.6% 100.0% 3.0% 2.2% 0.73518               h 4.6% 1.7% 5.8% 13.5% 6.6% 7.3% 7.8% 3.5% 4.2% 9.3% 5.1% 4.2% 3.2% 14.6% 2.6% 5.9% 100.0% 3.0% 2.6% 0.87710               i 8.5% 4.2% 5.0% 9.7% 5.3% 4.3% 6.6% 5.2% 4.7% 5.8% 4.7% 6.7% 6.0% 10.5% 4.3% 8.5% 100.0% 3.2% 3.4% 1.04793               j 13.8% 7.5% 3.9% 4.5% 3.5% 0.2% 5.0% 7.5% 5.3% 0.9% 4.2% 10.0% 9.9% 4.9% 6.7% 12.1% 100.0% 4.2% 4.5% 1.07753               k 15.4% 8.5% 3.4% 2.7% 2.7% 0.0% 4.4% 8.1% 5.5% 0.0% 3.9% 11.0% 11.1% 2.9% 7.4% 13.1% 100.0% 4.5% 4.8% 1.06665               l 19.6% 11.4% 0.4% 0.0% 0.0% 0.0% 0.5% 9.3% 5.0% 0.0% 2.0% 13.3% 14.4% 0.0% 9.1% 15.0% 100.0% 5.4% 5.5% 1.02482               m 20.4% 12.0% 0.0% 0.0% 0.0% 0.0% 0.0% 9.3% 4.3% 0.0% 0.8% 13.6% 15.3% 0.0% 9.4% 14.9% 100.0% 5.5% 5.6% 1.01622               n 27.8% 18.5% 0.0% 0.0% 0.0% 0.0% 0.0% 3.0% 0.0% 0.0% 0.0% 13.7% 24.3% 0.0% 10.5% 2.2% 100.0% 6.6% 6.1% 0.91741               o 18.1% 31.9% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 50.0% 0.0% 0.0% 0.0% 100.0% 9.1% 6.5% 0.71081               p 0.0% 29.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 71.0% 0.0% 0.0% 0.0% 100.0% 11.1% 6.6% 0.59433               the optimum portfolio lies in efficient frontier. in bearish period, portfolio g is the optimum portfolio because the portfolio has higher rar than others. while in bullish period, portfolio j is the optimum portfolio that higher rar. the rar points of bearish and bullish period are 0,6129 and 1,07753. the efficient frontier curve in each period can be seen in figure 3 and figure 4. figure 3 the efficient frontier curve in bearish period figure 4 the efficient frontier curve in bullish period the optimal portfolio is selected portfolio that lies on efficient portfolio. to prove it, the calculation of portfolio return is shown on table 5 and table 6.  table 5 return optimum portfolios in bearish period rp bbca bmri asii bbri bdmn pgas untr tlkm indf ptba inco aali 7/31/2008 9.3% 22.2% 14.4% 17.1% 19.6% 18.1% ‐6.2% ‐6.2% 5.5% ‐5.2% ‐16.8% ‐24.0% ‐25.9% 8/29/2008 ‐1.4% 5.0% ‐5.0% ‐7.8% ‐4.1% ‐2.7% 4.5% ‐5.1% 3.9% ‐1.1% 6.2% ‐19.0% ‐18.0% 9/29/2008 ‐9.1% ‐0.8% ‐6.2% ‐17.8% ‐7.7% ‐9.3% ‐14.7% ‐8.7% ‐10.6% ‐12.9% ‐35.5% ‐17.4% ‐27.9% 10/31/2008 ‐26.2% ‐14.3% ‐41.1% ‐45.3% ‐36.1% ‐46.9% ‐35.6% ‐66.7% ‐23.3% ‐44.4% ‐41.4% ‐45.0% ‐53.3% 11/28/2008 ‐6.8% 0.0% ‐4.5% 9.1% ‐1.4% 1.0% 31.4% 26.2% 8.3% ‐11.0% 26.0% 16.6% 39.7% 12/30/2008 16.5% 20.4% 35.9% 3.4% 34.6% 18.1% 1.1% 10.7% 17.9% ‐4.1% 0.0% ‐2.0% 16.0% 1/30/2009 ‐3.0% ‐15.4% ‐10.1% 23.2% ‐0.5% ‐26.6% 18.3% 14.8% ‐8.7% 5.4% 7.2% 28.2% 11.2% 2/27/2009 ‐7.5% ‐14.5% ‐4.4% ‐13.1% ‐18.1% 15.4% ‐13.6% 5.9% 0.0% ‐10.2% ‐2.7% ‐12.1% 17.9% 3/31/2009 17.3% 31.9% 25.0% 26.1% 12.8% 19.0% 13.2% 26.2% 19.8% 6.8% ‐6.3% 2.3% 9.7% 4/30/2009 22.7% 8.1% 27.6% 26.3% 38.1% 32.3% 20.9% 33.3% 4.0% 36.2% 40.7% 53.9% 12.1% 5/29/2009 9.7% 0.7% 7.2% 15.6% 7.8% 20.0% 10.6% 12.8% ‐5.1% 39.1% 18.4% 5.1% 12.7% 6/30/2009 7.1% 4.4% 6.7% 14.4% 0.8% 28.7% 9.6% ‐2.0% 0.7% 6.2% 3.1% 15.3% ‐5.3% 7/31/2009 16.1% 7.1% 31.5% 23.1% 15.9% 0.0% 11.1% 30.2% 19.3% 20.4% 17.2% 3.6% 14.5% σ= 4.2%, e(ri) =4.5% 0.0% 1.0% 2.0% 3.0% 4.0% 5.0% 6.0% 7.0% 0.0% 2.0% 4.0% 6.0% 8.0% 10.0% 12.0% portfolio j analysis of dynamic …… (agustini hamid) 99  table 6 return optimum portfolios in bullish period rp aali untr pgas ptba antm inco unsp indf bmri tlkm bbca medc asii bbri isat bdmn 1/31/2005 9.5% ‐3.2% 25.3% 34.2% 8.2% 5.5% 0.9% 11.3% 8.7% 0.8% ‐0.5% ‐3.4% 25.3% 4.7% ‐4.3% ‐4.3% ‐4.6% 2/28/2005 7.5% 3.3% 6.1% 6.9% 0.6% 18.1% 22.7% 18.8% 6.9% ‐6.7% ‐7.8% 13.9% ‐5.8% 7.5% 19.1% 19.1% 14.4% 3/31/2005 2.0% 29.0% ‐5.0% ‐16.5% ‐8.4% 4.7% ‐4.9% 7.3% 24.7% ‐5.5% 1.1% 3.8% 0.0% ‐2.8% ‐13.0% ‐13.0% ‐0.5% 4/29/2005 ‐1.7% ‐10.0% 2.6% 14.3% 2.0% ‐5.6% 2.9% ‐6.8% ‐12.1% ‐6.4% ‐4.5% ‐9.6% 5.1% 0.5% ‐6.1% ‐6.1% ‐2.1% 5/31/2005 6.7% 1.4% 11.0% 6.7% 0.6% 10.6% ‐0.7% ‐2.4% 17.6% 3.8% 8.8% 13.0% 22.3% 10.9% 8.4% 8.4% 3.8% 6/30/2005 4.7% 8.9% 13.7% 3.6% 1.9% 2.1% 1.8% 2.5% ‐8.3% ‐9.6% 7.5% 3.6% 19.8% 8.5% 0.0% 0.0% 4.7% 7/29/2005 5.3% 3.8% 19.5% 12.2% ‐1.3% 1.0% 6.0% ‐1.2% ‐0.9% 7.3% 11.0% 1.4% ‐15.2% 3.9% 10.3% 10.3% 10.9% 8/31/2005 ‐4.8% ‐1.2% ‐12.9% 10.9% 10.8% ‐7.2% 4.0% ‐7.4% ‐27.5% ‐14.9% ‐7.2% ‐6.2% 3.9% ‐23.1% ‐19.5% ‐19.5% ‐19.6% 9/30/2005 6.2% 25.8% 0.0% 16.8% ‐6.3% 21.1% ‐0.6% ‐6.7% ‐7.6% 5.8% 3.9% 0.7% 9.0% ‐3.9% 4.9% 4.9% ‐10.6% 10/31/2005 2.8% 5.4% ‐4.5% 29.3% 9.2% ‐5.5% ‐6.8% 11.4% 12.3% ‐9.0% ‐6.5% ‐6.5% ‐2.8% ‐4.6% ‐9.3% ‐9.3% ‐2.5% 11/30/2005 4.2% 1.9% ‐2.7% 32.4% ‐5.1% 10.7% ‐11.4% 3.8% 3.7% ‐2.3% 10.0% 2.3% ‐5.7% ‐2.2% 21.4% 21.4% ‐0.6% 12/30/2005 4.2% ‐10.9% 2.1% ‐3.5% 6.5% 25.4% 2.7% 2.5% 7.1% 27.1% 7.3% 3.0% 1.5% 12.1% 1.7% 1.7% 21.8% 1/31/2006 8.3% 3.1% 4.1% 20.3% 8.9% 19.6% 10.6% 1.2% ‐3.3% 8.5% 6.8% 6.6% 15.6% 2.0% 12.4% 12.4% ‐2.1% 2/28/2006 6.7% 16.8% 3.9% 16.3% 4.6% ‐5.8% 7.2% 40.5% ‐4.5% ‐9.0% ‐1.6% ‐0.7% 5.8% ‐5.8% ‐4.4% ‐4.4% ‐8.1% 3/31/2006 8.3% 5.1% 13.2% 3.6% 0.0% 8.1% 9.9% 15.3% 6.0% 4.3% 11.3% 16.0% 0.6% 14.8% 20.0% 20.0% 12.3% 4/28/2006 20.2% 6.5% 21.1% 24.0% 46.3% 32.2% 16.6% 23.5% 27.0% 13.6% 9.4% 4.8% 15.7% 6.2% 18.6% 18.6% 7.3% 5/31/2006 ‐4.3% ‐1.5% ‐0.9% ‐1.2% 11.7% ‐22.6% ‐1.2% 14.3% ‐16.8% ‐12.0% ‐6.6% ‐6.3% ‐17.2% ‐18.0% ‐14.6% ‐14.6% ‐10.7% 6/30/2006 ‐1.9% 0.0% 0.0% ‐8.2% ‐6.0% 3.9% ‐1.0% ‐7.3% ‐6.4% 1.8% 4.3% 0.0% ‐6.3% ‐0.5% 3.8% 3.8% ‐13.6% 7/31/2006 9.2% 28.5% 3.7% 4.9% 4.0% 12.4% 2.0% 20.2% 19.3% 2.3% 1.4% 1.8% 2.0% ‐1.5% 4.3% 4.3% 6.9% 8/31/2006 6.1% 10.2% 2.7% 7.2% 3.8% 3.8% 10.3% ‐10.3% 13.3% 19.3% 6.0% 9.0% ‐5.3% 15.6% 1.8% 1.8% 15.3% 9/29/2006 2.2% ‐1.1% 5.2% ‐4.7% ‐0.7% 1.9% 4.5% ‐8.3% 5.0% 10.7% 7.0% 6.0% ‐3.5% 12.2% 12.6% 12.6% 8.2% 10/31/2006 5.7% 7.1% 8.3% ‐5.4% 2.2% 26.4% 14.3% ‐2.3% 6.4% 17.2% ‐0.6% ‐3.6% ‐4.3% 7.6% 0.0% 0.0% 12.3% 11/30/2006 3.9% 9.2% ‐1.5% ‐4.4% ‐5.8% 8.6% 4.6% ‐2.3% 5.3% 1.8% 17.9% 14.0% ‐2.3% 19.0% 9.2% 9.2% 5.0% 12/28/2006 6.9% 18.3% 1.6% 6.4% 8.5% 6.0% 12.7% 15.5% ‐3.6% 4.5% 2.0% ‐1.9% 9.2% ‐1.6% ‐3.7% ‐3.7% 8.0% 1/31/2007 ‐1.3% 4.8% 3.1% ‐19.0% ‐11.3% ‐2.5% 6.5% 4.1% 25.2% ‐11.2% ‐6.4% ‐1.9% ‐3.5% ‐5.4% 2.9% 2.9% ‐12.6% 2/28/2007 1.4% ‐4.9% 3.0% ‐4.8% 5.6% 16.7% 17.6% 11.9% ‐7.7% ‐9.7% ‐5.8% ‐3.4% 6.6% ‐5.4% ‐10.4% ‐10.4% ‐2.5% 3/30/2007 8.0% 0.4% 6.5% 4.5% 4.5% 30.2% 40.1% 1.8% ‐2.6% 7.5% 10.7% 3.6% ‐2.1% ‐6.0% 6.3% 6.3% 13.9% 4/30/2007 14.3% 25.0% 6.8% 12.3% 13.0% 31.6% 11.9% 25.2% 7.9% 23.0% 6.6% 3.9% ‐1.4% 9.1% 4.0% 4.0% ‐1.5% 5/31/2007 2.4% ‐4.1% ‐4.4% ‐2.4% 34.6% ‐10.3% ‐9.5% 5.6% 5.5% 5.7% ‐9.0% ‐0.9% 1.4% 13.9% 16.2% 16.2% 8.5% 6/29/2007 1.7% ‐8.9% 9.3% ‐7.8% 24.8% ‐10.4% 0.9% 0.0% 17.1% ‐3.8% 3.1% 3.8% ‐1.4% 3.0% ‐5.7% ‐5.7% ‐1.4% 7/31/2007 8.0% 11.6% 4.2% ‐2.1% 1.5% 7.6% 3.1% 21.7% ‐1.2% 12.8% 13.7% 15.6% 21.3% 10.9% 9.6% 9.6% 22.5% 8/31/2007 ‐6.8% ‐6.8% ‐5.8% 10.8% ‐13.5% ‐16.7% ‐5.8% ‐22.7% ‐7.0% ‐7.8% ‐3.1% ‐4.8% ‐8.8% ‐4.8% ‐0.8% ‐0.8% ‐4.7% 9/28/2007 12.0% 17.5% 1.2% 17.6% 13.9% 23.3% 17.8% 22.9% 3.8% 8.5% 1.4% 2.5% 6.4% 7.8% 5.6% 5.6% 5.0% 10/31/2007 25.2% 33.9% 33.5% 16.2% 38.2% 20.7% 42.0% 29.2% 14.0% 7.1% ‐2.3% 18.7% 12.7% 33.0% 17.4% 17.4% 2.4% 11/30/2007 12.3% 13.1% 2.7% 20.7% 33.7% 39.6% 4.5% 10.6% 14.8% ‐6.0% ‐5.6% ‐2.7% 15.5% ‐2.3% 0.6% 0.6% ‐4.0% 12/28/2007 0.2% 10.0% ‐3.1% ‐9.2% ‐0.8% ‐4.3% 2.1% 3.4% 2.0% ‐1.4% 0.0% 2.8% ‐4.6% 9.2% ‐5.1% ‐5.1% ‐3.6% 1/31/2008 ‐1.5% 7.9% 22.0% ‐12.7% ‐5.0% ‐20.1% ‐17.4% 11.0% 9.7% ‐5.0% ‐8.9% ‐2.7% ‐21.4% ‐0.2% ‐5.4% ‐5.4% ‐10.0% 2/29/2008 4.3% 4.6% ‐0.4% 3.0% 0.4% 14.7% 18.9% 1.0% 3.5% ‐1.5% 5.9% 0.7% 1.9% 2.2% 2.9% 2.9% 6.2% 3/31/2008 ‐13.1% ‐18.2% ‐5.3% 2.5% ‐12.2% ‐18.3% ‐25.9% ‐30.2% ‐20.5% ‐3.8% ‐1.5% ‐9.1% ‐19.4% ‐12.9% ‐12.5% ‐12.5% ‐9.8% 4/30/2008 ‐4.7% ‐8.3% ‐4.0% ‐14.5% 5.5% 4.5% ‐5.0% ‐9.6% ‐2.2% ‐8.7% ‐8.3% ‐7.7% 18.0% ‐17.5% ‐5.6% ‐5.6% ‐17.4% 5/30/2008 11.4% 11.6% 19.9% 15.7% 37.7% ‐7.1% ‐8.3% 21.1% 23.1% 0.9% ‐8.5% ‐7.5% 28.7% 5.0% ‐2.5% ‐2.5% 0.0% 6/30/2008 ‐3.5% 11.7% ‐15.9% ‐7.1% 12.3% ‐2.3% ‐0.8% ‐3.6% ‐14.3% ‐7.5% ‐9.9% ‐10.8% ‐6.4% ‐8.3% ‐12.1% ‐12.1% ‐17.5% the efficient portfolio can be proved by using linear regression which aims to show the correlation between portfolio return with expected return of each stock. in the bearish period, all the stocks in the portfolio have the p-value less than 5% except aali. according to linear regression, it can be shown the p-value of each stock from both periods; bearish and bullish are less than 5%. in the bearish period, all the stocks in the portfolio have p-value less than 5% except aali. while in the bullish period, the stock of portfolio has p-value are less than 5%. in this case, the writers reject h0 because there is the correlation between portfolio return with stock return. table 7 shows p-value in each period, the bearish and the bullish period. table 7 p-value in bearish and bullish period bearish low high p‐value bbca 0.275636 1.136016 0.40888% bmri 0.497859 0.750319 0.00003% asii 0.304397 0.779669 0.03899% bbri 0.468362 0.803163 0.00043% bdmn 0.230600 0.730655 0.14102% pgas 0.037427 0.875676 3.53868% untr 0.165418 0.633454 0.31724% tlkm 0.378168 1.313727 0.21576% indf 0.254412 0.760417 0.10384% ptba 0.042988 0.681191 2.96382% inco 0.026479 0.615737 3.53081% aali ‐0.054829 0.588645 9.51063% bullish low high p‐value aali 0.218493 0.525644 0.0016% untr 0.289487 0.629787 0.0003% pgas 0.109910 0.410963 0.1168% ptba 0.170768 0.427581 0.0030% antm 0.218805 0.430752 0.0000% inco 0.212463 0.485325 0.0007% unsp 0.242956 0.471583 0.0000% indf 0.167302 0.464511 0.0108% bmri 0.176601 0.563904 0.0399% tlkm 0.028310 0.609088 3.2289% bbca 0.296122 0.798066 0.0077% medc 0.152156 0.474180 0.0327% asii 0.257824 0.586412 0.0006% bbri 0.227048 0.581978 0.0041% isat 0.227048 0.581978 0.0041% bdmn 0.138409 0.519395 0.1193% 100   journal the winners, vol. 17 no. 2, september 2016: 91-101  from the result of hypothesis, there are correlations between portfolio return with the stock return in both periods. as shown on table 7, the majority p-value of each stock is below on 5% except aali. in the bullish period, all p-value of each stock is below on 5%. the construction of the optimum portfolio has the higher return than lq-45 index return in both periods. table 8 and table 9 show the return and risk of lq-45 index in both periods. table 8 the return and risk of lq-45 index in bearish period table 9 the return and risk of lq-45 index in bullish period conclusions constructing optimum portfolio with mean-variance (consistent with markowitz theory) combine with linear programming can be applied in lq-45 stocks portfolio. the expected return of optimum portfolio in both period can beat the lq-45 index return. the standard deviation of the optimum portfolio is lower than the lq-45 index. the standard deviation (σ) is a proxy of risk. in the bearish period, the composition of the optimum portfolio is dominated by the banking sector and manufacture sector. date last price return 7/31/2008 481.30 -2.80% 8/29/2008 449.66 -6.57% 9/29/2008 369.14 -17.91% 10/31/2008 241.35 -34.62% 11/28/2008 241.50 6.00% 12/30/2008 270.23 11.90% 1/30/2009 262.56 -2.84% 2/27/2009 249.01 -5.16% 3/31/2009 283.08 13.68% 4/30/09 341.73 20.72% 5/29/09 373.07 9.17% 6/30/09 392.12 5.11% 7/31/09 454.42 15.89% return 0.51% 15.06% variance 0.02% bearsih period e(ri) σ portfolio g 4.20% 6.90% lq-45 index 2.20% 6.10% bearish standard deviation (σ) date last price return 1/31/2005 227.73 4.90% 2/28/2005 233.07 2.34% 3/31/2005 233.85 0.34% 4/29/2005 223.14 -4.58% 5/31/2005 237.79 6.57% 6/30/2005 246.57 3.69% 7/29/2005 260.87 5.80% 8/31/2005 230.56 -11.62% 9/30/2005 235.81 2.28% 10/31/2005 227.83 -3.38% 11/30/2005 237.33 4.17% 12/30/2005 254.35 7.17% 1/31/2006 271.63 6.80% 2/28/2006 270.42 -0.44 3/31/2006 292.57 8.19 4/28/2006 325.1 11.12 5/31/2006 294.05 -9.55 6/30/2006 289.73 -1.47 7/31/2006 299.07 3.22 8/31/2006 317.61 6.2 9/29/2006 336.47 5.94 10/31/2006 345.85 2.79 11/30/2006 376.93 8.99 12/28/2006 388.29 3.01 1/31/2007 377.1 -2.88 2/28/2007 367.81 -2.46 3/30/2007 390.92 6.28 4/30/2007 424.57 8.61 5/31/2007 433.45 2.09 6/29/2007 442.12 2 7/31/2007 487.59 10.28 8/31/2007 457.96 -6.08 9/28/2007 498.71 8.9 10/31/2007 575.51 15.4 11/30/2007 591.87 2.84 12/28/2007 599.82 1.34 1/31/2008 564.32 -5.92 2/29/2008 590.77 4.69 3/31/2008 525.41 -11.06 4/30/2008 493.46 -6.08 5/30/2008 518.36 5.04 6/30/2008 495.17 -4.47 return 2.17 standard deviation (σ) 6.14 variance 0.0038 bullish period e(ri) σ portfolio j 4.5% 4.2% lq-45 index 2.2% 6.1% bullish analysis of dynamic …… (agustini hamid) 101  the government usually will decrease the interest rate when the market crash or in turbulence period. therefore, it will give good impact to the banking sector and manufacture sector. in the bullish period, the optimum portfolio is dominated by the commodity stocks. the demand of raw material especially commodity will increase in the stable period. it will give good impact to commodity sector because of the higher demand. this research can be continued by finding out whether the optimum portfolio exceeds the market return. furthermore, the research can be continued by predicting forward return from the optimum portfolio. despite the success of describing an optimum lq-45 portfolio, the research has several constraints such as in selecting the portfolio stocks. during the research period 2005 2011, there are only 16 selected stocks based on stocks listed in lq-45. the other limitation, there are more factors can affect the return such as market risk like interest rate risk, foreign exchange risk, and political risk. references bernstein, p. l., & damodaran, a. (1998). investment management. wiley frontier in finance. bodie, z., kane, a., & marcus, a. j. (2009). investments (8th ed). mcgraw hill higher education. brigham, e. f., & daves, p. f. (2010). intermediate financial management (10th ed). south western: thomson learning chen, z., ibbotson, r. g., & hu, w. (2009). liquidity as an investment style (ssrn working paper). retrieved from http://ssrn.com/abstract = 1675108. fabozzi, f. j., & vardharaj, r. (2002a). multifactor equity risk models. in frank j. fabozzi and harry m. markowitz (eds). the theory and practice of investment management. new york: john wiley & sons. fabozzi j. f., gupta, f., markowitz, h. m. (2002b). the legacy of modern portfolio theory. the journal of investing, 7-22. gallati, r. (2003). risk management and capital adequacy. new york: mcgraw-hill. markowitz, h. m. (1952). portfolio selection. the journal of finance, 7(1), 77-91. markowitz, h. m. (1959). portfolio selection: efficient diversification of investment. new york: john wiley sons. markowitz, h. m., & perold, a. f. (2011). portfolio analysis with actors and scenarios. the journal of finance, 36(4), 871-877. reilly, f. k., & brown, k. c. (2009). investment analysis and portfolio management (9th ed). texas: south-western cengage learning. microsoft word 06_cb_murty_rev1.docx the alternative business psychology…… (murty magda pane) 47  the alternative business psychology application in green industry program towards the competitiveness of asean economic community 2016 murty magda pane character building development center, bina nusantara university jl. kemanggisan ilir iii no. 45. kemanggisan, palmerah, jakarta barat, 11480 murty.pane@binus.ac.id abstract penetrating the era of the asean economic community, the requisite of national business environment to prevail the competitionwas more exorbitant and formidable. a corporation could implement a program of green industry from the government to improve the effectiveness and efficiency.in enhancing the efficiency of green industry implementation, a corporate attempted to apply the theories in business psychology as an alternative of intervention.the objective of this study was to give the alternative intervention to the manufacturing business in implementing the green industry program. this study used the literature study as a method and limited the scope to develop the organization using the theory of business psychology as the intervention. the change management as part of the business psychology is the result of study after comparing the theories in the literature study method. keywords: business psychology, green industry program, effectiveness, efficiency, competitiveness, change management, asean economic community introduction the year of 2016 has been declared as the initiation of asean economic community (aec) era as an entity of realization of the ultimate goal of economic integration in the southeast asia. in this era, free trade influences of both goods and services among asean countries. the incursion of the workforce transpires autonomously in addition to the commerce. the stringent competition is inevitable. in addition to limited natural resources, the human resources required should be aligned towards the level of expertise and capability in order to meet the quality standards and several requirements to outplay a global business competition. moreover, aec will be fully integrated into the global economy. by the integration, all asean countries behoove an equitable economy and notable insignificant great distance between one and the other countries in terms of economy. encountering the proposition that indonesia as a part of asean, it should favorably prepare in order not to trail in the competition.various efforts to improve competitiveness in the business should be undergone intensively. endeavors must be projected in order to be the best at the asean level instead of nationwide. because of myriad cooperation format among asean countries including in achieving the level of economic fairness, it should be considered a contribution to the supply network to develop a package of technical assistance to less developed asean countries. these factors of the condition of a company should not only be on the level of business survival but more in surplus, since they have provided assistance to the other party. the aid will help to create a fair climate competition, in addition to the policies of the authorities so that entrepreneurs can undertake business comfortably. 48   journal the winners, vol. 17 no. 1, march 2016: 47-57  facilitating the distribution of aid is certainly required a firm cooperation among asean countries. the configurations are (1) human resource development and capacity building; (2) recognition of professional qualifications; (3) imminent consultation to the macroeconomic and financial policies; (4) step by step in trade financing; (5) improving the infrastructure; (6) the development of electronic transactions through e-asean; (7) integrating the industry throughout the region to promote local resources; (8) increasing the involvement of the private sector to build the asean economic community (aec). based on the cooperation, external trade for asean, and the demand for an asean community play a prominent role. hence, we should be recognized the main characteristics of the asean economic community (aec), namely the single market and production base, the competitive economic area, the region of equitable economic development, the replete integrated are in the global economy. these characteristics are bond to each other sturdily. by incorporating the required elements of each characteristic, we have to be appropriately ensured the consistency and coherence of the elements and implementation. it should also reckon the importance of mutual coordination among the relevant stakeholders (seputar pengertian, 2014). considering the various factors, a corporation could employ the attendants from various countries in the asean area. a corporation considers the possibility in maintaining the quality of labor’s existence to remain at the level expected. taking into consideration of these factors, employers obviously commence considering the effectiveness and efficiency of operating a business. one of the most influenced factors in evolving the effectiveness is the qualification improvement and labor skills. meanwhile, a highly influential factor in increasing efficiency is the dexterity of the process, especially on the business in the field of manufacturing and partly extraction. representing of the indonesian government, ministry of industry has supported the efforts to increase the effectiveness and efficiency of the program by the convening of the green industry award. the program is launched as that the government aware the construction industry has a positive impact on the micro and macro scale to the economy. the positive impact of micro scale is depicted from the results indicated the industrial development of the share of gdp, export share, and job creation. while the positive impact of the macro scale is the acceleration of physical growth and the creation of employment opportunities. this award is rewarded to an industrial company that has contributed to the country's economy, benefiting the community, and participating in preserving the function of the environment through efficient resource utilization and application of environmentally friendly production processes. the award is intended to motivate companies to improve their industrial efforts towards the environment-friendly industry. the appraisal refers to the green industry award criteria and assessment mechanism as inscribed in the assessment guidelines. these guidelines are functioning as a reference for all stakeholders concerned so as to have the same understanding of the terms, procedures, and criteria for assessment. therefore, the assessment process can be performed in a consistent, transparent, accountable, fair, and accountable. a periodic evaluation of the guidelines is conducted for assessment considering various factors and issues related to strategic industrial sectors so that the assessment criteria can be applied by the conditions of the industry. the green industry is defined as the industry in the production process prioritizing the efficiency and effectiveness in the use of resources in a sustainable manner so as to be able to harmonize industrial development with the preservation of the environment and can benefit society. this means that the green industry is an approach that is oriented towards improving efficiency through the act of sparing in the use of materials, water and energy, alternative energy, the use of materials that are safe to humans and the environment, and the use of low-carbon technologies with the goal of improving productivity and waste minimization. it emphasizes the business approach in the alternative business psychology…… (murty magda pane) 49  order to provide increased economic and environmental efficiency. development of green industry is also one effort to support the indonesian government's commitment to reducing greenhouse gas emissions, as stated by the president at a meeting on climate change in copenhagen in 2009. it has stated that indonesia is determined to reduce greenhouse gas emissions by 26% by 2020, and this figure is targeted to be achieved in 2019. this commitment certainly requires effort and thorough action including that of the industrial sector which is one of the contributors to carbon emissions. for this reason, the ministry of industry of the republic of indonesia makes efforts for the development of green industries, among others through the green industry award. green industry award is an award appreciated to the industry, among others that have performed efforts to preserve the use of natural resources and renewable energy, which is implemented through the various stages of selection and verification based on a scoring system that will be evaluated regularly. in order to ensure the assessment process is a systematic, consistent and accountable, it needs a guideline describing the conditions, procedures, and assessment criteria for this award. the assessment criteria are divided into the major industry, medium industry, and small industry. for major industries, a judgment refers to (a) production process that includes the program of production efficiency, the use of material inputs, energy, water, process technology, human resources, and the working environment in the production process; (b) waste management performance/emission that encompasses the program of co2 emission reduction, environmental quality standard fulfillment, and waste management facilities/emissions; (c) the company's management that involves the certification, corporate social responsibility, awards, and employee health. the discrepancy in the medium industry is attributed slightly in carbon emissions reduction program as point b. the significant differences exist in small-scale industries, namely (a) production process that includes the program of production efficiency, the use of material inputs, energy, water, technology and human resources processes. (b) environmental management and safety that covering waste and work environment. (c) the company's management that covers the certification, corporate social responsibility and awards. the process technology and human resources on these criteria also incorporate elements of efficiency and human resource management. there is a clause on assessment guidelines that incorporate reuse, reduce, recycle (3r) on the process technology, while the human resource includes elements of human resource management to improve the efficiency of production processes. in large and medium scale industries, the method chosen is generally in human resource management that is the process of production capacity building in order to increase the production efficiency and a number of human resources that already possess a certificate of competence. while on a small scale industry, it is mentioned that the method selected is the manufacturing of human resources capacity building program (ministry of industry of the republic of indonesia, 2015). based on the criteria required, the author intends to facilitate the achievement by adding the psychology of business applications on every company that has environmental aspects in the production process. this article focuses on the scope of research in the manufacturing industry, which contribution to the national economy that is respectable and has significant environmental aspects and denotative effect on the quality of life of the wider community and the preservation of natural resources are increasingly limited in number. referring to the implementation of the requirements of the green industry to obtain the award has the considerable burden. taking into account the necessity to increase the effectiveness and efficiency of production, the author is solicited to give an organizational approach as an alternative to the expected increase. this approach is the application of psychology in the corporate's business. business psychology is the study and practice in improving the labor environment. this science is a combination of understanding the science in human behavior studies with experience in 50   journal the winners, vol. 17 no. 1, march 2016: 47-57  the job environment to achieve effectiveness and sustainability performance of organizations and individuals. this science is an applied science that investigates how to make the relationship between the organization and the people in it take places effectively. this science uses scientific research methods of social science to study people, workplaces, and organizations that aim to link up with a better way the people’s pretension in the organization, even the competitive eagerness. the goal is to create a healthy and productive relationship between the organization and the people in it to achieve mutual and reciprocal benefits. as an applied science, this purview governs what constitutes effective organizational practices. this science has a reciprocal relationship with the business and draws insights from people with experience of what works in the workplace. this allows psychological research is to be applied pragmatically and in an appropriate manner to the situation. it is also possible termed as a kind of cross-conception between the experience from business to psychology and academic knowledge, and the rigor of psychology into the business. the scope of psychology can be applied to almost any issue of people in the working environment. nevertheless, there remain several domains remain in this science. the domains are the selection and assessment, organizational development, coaching, leadership development, learning and development, talent management, employee engagement, safety and working environment that is user-friendly, performance management and assessment, culture, health and well-being in work, also psychometric tests (the association for business psychology, 2015). longman dictionary of contemporary english has stated that, “business is also known as an enterprise, agency or a firm that is an entity involved in the provision of goods and services to consumers”. it is written that businesses are prevalent in capitalist economies, where most of them are privately owned and provide goods and services to customers in exchange for other goods, services, or money. the study closest to business is called management. this study’s objective is to make business operates more efficient and effective. the major factors affecting how a business is usually organized the size and scope of the business firm (including its structure, management, and ownership). they are broadly analyzed in the theory of the firm, the sector and country, limited liability companies (llc), tax advantages, and also disclosure and compliance requirements. atkinson has said (2014) that the study of business is an activity in its own right emerged relatively recently. the terms “manager” and “management” do not appear in the english language until the late 16th century. chandler in atkinson (2014) has divided business history into two periods, namely pre-1850 and post-1850. the pre-1850 period, the local and family-owned firms dominated the business environment. with the advent of production lines in the early 1900s, business was characterized by standardization and mass production. while henry ford’s model t car is seen as a major accomplishment of industrialization. ford also remarked, “why is it every time i ask for a pair of hands; they come with a brain attached?” the output may have increased, but so too did conflict between management and staff. working conditions were poor and businesses ignored the sociological context of work. the productivity mattered more than people. in the 1920s a new influence on business thinking emerged, the human relations movement of behavioral studies. through the work of psychologists elton mayo and abraham maslow, businesses began to recognize the value of human relations. workers were no longer seen as simply “cogs in the machine”, but as individuals with unique needs. managers still focused on efficiency but realized that workers were more productive when their social and emotional needs were taken care of. for the first time, job design, workplace environments, teamwork, remuneration, and nonfinancial benefits were all considered important to staff motivation. these elements make the business psychology was chosen for the tool of intervention, for the psychology is the science of human (and nonhuman) behavior, cognition, emotion, and motivation. and the science can be subdivided into many different specializations, some of which are concerned primarily with psychological science and application of that science to real-world problems outside of the research setting. one of the the alternative business psychology…… (murty magda pane) 51  applications of the psychology science is called industrial/organizational (i/o) psychology. it is a smaller, but more rapidly growing psychology subfield that is concerned with the development and application of scientific principles to the workplace (spector, 2012). personally, the author assumes that the i/o psychology as a science has a smaller scope than the business psychology. the business psychology reaches the larger scope to see the business, not only the organization but also the business society that influence the organization, to be more survived in the business interactions. this consideration makes the author chose the business psychology as one of the variables of the study. as it can be seen from figure 1, the business has many parties that interrelated each other in it. figure 1 business scope (courtesy: www.boundless.com) figure 1 makes clearer that the business psychology has larger scope than the i/o psychology. considering the requisite of the global business environment in larger scope and in the asean business environment in smaller one, it will be higher than the present in the next five years, so thatthe objective of this study is to give the alternative intervention to the manufacturing business to gain the competitive advantage. this study limits the scope to the organization itself (i.e. the internal stakeholders) to develop using the theory of business psychology as the intervention. the definitions of organizational development (od) according to the organization development network is “an effort (1) planned, (2) organization-wide, and (3) managed from the top, to (4) increase organization effectiveness and health through (5) planned interventions in the organizations processes, using behavioral-science knowledge”(beckhard, 1969). there is also another definition, namely: “od is a field directed at interventions in the processes of human systems (formal and informal groups, organizations, communities, and societies) in order to increase their effectiveness and health using a variety of disciplines, principally applied behavioral sciences. od requires practitioners to be conscious about the values guiding their practice and focuses on achieving its results through people" (minors, 1969). "organization development is a body of knowledge and practice that enhances organizational performance and individual development, by increasing alignment among the various systems within the overall system. od interventions are inclusive methodologies and approaches to strategic planning, organization design, leadership development, change management, performance management, coaching, diversity, team building, and work/life balance” (minahan, 1969). 52   i disciplin organiza (informa definitio improve between definitio i teams ar the succ targets. m different workflow optimall a suffici performa c leadersh circumst innovatio et al., 20 o company developm managem structure from a c are (1) m creating preparin in order to nes, especial ational devel al or formal on of the dev organizatio the various on of organiz in developin re originally cess rate wou mea may co t cultures, m ws within th y at a moder ient level of ance will be considering ip. regardin tances existe on culture. t 014). organization y to anothe ment leads ment (chang ed and system condition tow motivating c g a vision in ng the agent improve th lly the scien lopment, wh groups, orga velopment o onal perform s systems w ational deve figur (courtesy: co ng the organi made up of uld determin onsider the e mindsets, and he team, it rate level cen f coordinatio greatly burd these dema ng the chos ed. the po therefore it nal transform r company to organiza ge managem matic proces ward the des change that formulating t of change he effectiven nce of appli hich is a fie anizations, c rganization, mance and within the o lopment can re 2 definition oloringinguy.c ization, must groups of in ne the level o era, and each d perspectiv assists the ntralized net n in order t dened on a hi ands, the rol en model, t ositions of t is very influ mation can be or a merge ational chang ment). more ss to help the ired goal. th is encourag the direction e, including journal th ness and th ied behavior ld that is di communities, which is a individual rganization n be seen in f n of organizat com/46188-or t be cognize ndividuals un of success o h team consi es as a chal formation o twork. when o achieve ef igh degree of le of a lead transactional these two m uential on org e motivated b er between ges that req specifically, e transition o he compone ging readines n of change the inform he winners, v eir health, h r. it refers irected at in , and society union betwe development as a whole figure 2. tional develop rganizational-d d the team's nited by goal of the organi sts of more t llenge. notin f the team's n centralizati ffective perf f centralizatio der is pivota or transfor models have ganizational by diverse fa two compan quire certain the definiti of individual nts that enco ss to change expected; (3 mal leader; vol. 17 no. 1 human bein to the defin ntervention i y). it is also een knowled t, by impro system. as pment development) division in t ls and target ization in ach than one nat ng the exist s performanc on is low, th formance. co on, (troster, al. hence, it rmational ca e positive i performance actors, such a nies or mor n changes t ion of chan ls, work team ompassed in e and overco ) developing (4) managin 1, march 201 ngs use a v nition of m n the human based on th dge and prac oving the a s an illustra the organiza t the same gr hieving its g tionality, and ted network ce. teams c he team may onversely, th et al., 2014) t requires a an be adapte impacts on e in business as the acquis re. the org o the organ ge managem ms, and orga change man ome its rejec g political su ng the tran 16: 47-57  variety of minors on n system he second tices that alignment ation, the ation. the roup, and goals and d it unites structure can work not have he team's ). vigorous ed to the business s (yildiz, sition of a ganization nizational ment is a anizations nagement ction; (2) upport by nsition in the alter developi preparin o the chan extreme confusio obtained obtained t impleme managem t study als governm to win suppliers will pro discours psycholo t variables requirem commun o so that e rnative busine ing activity p ng infrastructu once one of nge itself, su point. (2) on. (3) step d/modest = f d/modest = c thus, any a ented, and m ment in the c there is also so discusses ment in the ex n the com s/society/cre vide the alt e until now. ogical scienc this study s included in ments, circum nity in 2015 observing fr each compan ness psycholo plan, build c ure changes f those comp uch as (1) st step 2 is n p 3 is not functions wi changes will alterations o monitored pr context of the o a considera about the re xternal stake mpetition ditors/custom ernative solu considering ce, this study is literature n this study mstances, an and general rom the circu ny is required ogy…… (murt commitment, and building ponents is no tep 1 is not not obtained obtained/m ithin the org not reach the on policy, l roperly and e organizatio figure 3 (courtesy ation for the equirements eholders) to m in the er mers in the e ution or inte g the busines y will also enr m study based y. the variab nd condition theories of b umstances is d to enhance rty magda pa , and commi g a support sy ot implement obtained/mo /modest = c modest = th anization wo e expected p ocation, and carefully ( on and the bu 3 change man y: www.cngglo requirement of green ind make the org ra of as external stak ervention, i. ss psycholog rich the artic method d. this meth bles are the ns that may business psyc likely to con e its competi ane) ittee structur ystem for the ted, then the odest = statu changes occ here will be ould be diffi oint. d working-ti fajar, 2011) usiness can b nagement obal.com) ts of green in dustry in gene ganization of sean eco keholders or e. the busin gy is a relativ cles in the are ds hod is done criteria of g occur in th chology. nfront, name itiveness in o res; (5) susta e agents of c risk will app us quo will cur with no e sabotage. icult to oper ime must b ). for more be observed in ndustry to co eral (as the f f manufactur onomic co even the com ness psychol vely new sci ea of the scie e by compar green indust e era of the ely a competi order to sust aining mome hange. pear to the su be maintain o clear direc (4) step 4 rate. (5) step be carefully e details, the n figure 3. omply.there factors of so ring business ommunity, mpetitors. t ogy applicat ence in the b ence of psych ring data fro tries in the e asean e itive econom tain. an indu 53  entum by uccess of ned at the ction and 4 is not p 5 is not planned, e change efore, this ciety and ses easier as the this study tion as a branch of hology. om three guideline economic mic region ustry that 54   journal the winners, vol. 17 no. 1, march 2016: 47-57  has environmental aspects can implement green industry to improve competitiveness. criteria for green industry, in a nutshell, are the effectiveness of the work, which is one of the most important factors, is the labor high level of expertise and skills, and health care and welfare. another important criterion is the efficiency of the process. important factors that affect these criteria are the competence of human resources, material and energy savings, and waste minimization. based on both variables, the authors assert the need to enter the third variable as an intervention that these two variables can influence each other to make a positive profuse impact. these variables are business psychology as a proponent theory to provide an organizational intervention that processes the first two variables transpire quite effectively. these variables as theories are compared each other. and these variables, the business psychology (the business theories written above are included), the criteria of green industry, and the requisites of the business in the asean region to compete in the era of the asean economic community, whose theories are having a large scope. the proper theories will be chosen to support the intervention. while the method is the literature study, so the theories compared have to match each other. results and discussions based on the comparison among the three variables, organizational development is required as one of the domains of business psychology to be rehearsed as one alternative to improve the competitiveness of the company's business. this can be seen on the aspects contained in organizational development management, namely innovation, management of structured ideas, creativity, and learning within the organization. these aspects, especially aspects of innovation, will be very beneficial when applied in the process of reuse, reduce, and recycle (3r) on the implementation of process technology in the green industry. it is also meritorious for capacity building of production processes in order to increase production efficiency. meanwhile, the aspects of the management of structured ideas, creativity, and learning within organizations can increase the comfort level of employees, especially if the company is an organization with a high level of diversity in its employees. it could have been caused by the great variety of citizenship. this high level of diversity in the nation, which is attributed to the different culture, required being united by a particular system to minimize conflicts. these cultural differences lead to divergence in customs and mindsets, which induce differences in ideas to create innovations in products and services. the assorted ideas should be facilitated properly in order to provoke employee's creativity. employees will continue to work with novel and succulent idea if they are facilitated with the proper systems in a structured idea management because of the learning culture in the organization. the learning culture can be applied by increasing the frequency of training provision. the creation of this training would meet the criteria for a number of human resources that already have a certificate of competence, especially for certain employees who work in a field that has the quality and environmental aspects of the production process. it is very influential in the factors of production process efficiency and effectiveness. in addition to the above aspects, there is also aspect of talent management. this aspect corresponds with the implementation of the award criteria to the employee at the green industry award assessment guidelines. employees, who are high achievers, deserve high appreciation as well. achievement and recognition are two very related to each other, which greatly affects the motivation of individuals, in this case the motivation to work. motivation gives influence toindividual work performance of the individual, even possibly on overall organizational performance. the alternative business psychology…… (murty magda pane) 55  another prominent aspect of note is the management of change. change management is entailed when organizations grew because of their acquisition or merger between two or more organizations. it is possible to ensure in the era of the asean economic community, which several companies in indonesia are an acquisition of some companies from singapore or merger between companies in indonesia and malaysia, due to the simplicity for the existence of policies or new regulations in asean. interventions can be varied depending on the situation and conditions being experienced by a corporation. an extreme example is the development of a large-scale organization. organizational development on a large scale is very likely to win the competition in the era of the asean economic community in 2015, considering the ease to cooperate with other companies in foreign countries in the asean region. reality replenished an alternative for every company to alter its organization in terms of diversity. management changes are required inasmuchas the changes always occur. referring to the popular idiom about the change "everything in this life has to change, the constant is the change itself", then the business world, with all its dynamics, must resolve. business always changes without influenced by any factors, especially in the era of mea. therefore, organizations must be prepared for change. referring to the change management illustrations, the theory of change management as part of the psychological theory of the macro business (the business psychology theory) can be implemented to deal with significant changes in the era of the asean economic community. to support the effective implementation of change management, talent management aspects, structured idea management, and learning in organizational theory organizational development can be incorporated into the organizational systems to be implemented, so as to facilitate preparations for the organization to change to be “greener” in operation. based on the comparison of three theories, the era of the asean economic community should be noticed with the continuous trend of development. entering the era will encounter many challenges, one of which is the ability to cooperate between countries. in fact, the asean countries are consolidated as a unity economic activity with the impact of multilateral citizens. the corporations in indonesia have not entered this era yet, with minimum foreign citizens in a company from a variety of companies that exist in indonesia. foreign nationals who come from the more developed countries in the asean region (including singapore) at the indonesian company can contribute changes to working environment and organizational life. the big difference in mindset and more advanced work culture, it could trigger the indonesian employees to learn more advanced, if supported by the system and organizational culture that qualified for implementation. this can lead to increasing performance of individuals and the organization significantly and vice versa. interaction with international citizens may be easier for multinational companies. however, the issue appeared is related to the foredooming of a private company, or even state-owned enterprises, who are not accustomed to foreign labor. the company's goals and targets are increasingly stringent with respect to an increase in the effectiveness and efficiency of the process, in the context of the research implementation of the green industry. implementation of this program will not be modest because of the factors that should consider the providence of natural resources as a material and energy for the needs of the production process. energy recommended must be involving the types of renewable energy. in the era of aec, the improper implementation to energy sector could emerge since its energy integration. therefore, as a precaution, we should have been instilling a cultural energy saving. in fact, it is applied to use renewable energy in our company. as mentioned earlier, this green industry program is initiated by the government, and there is an award for the winner. for companies that won the award, of course, it is not only the effectiveness and efficiency of the company that is achieved but also the increase in the corporate image in the eyes of the public, which of course could be a factor in the competitiveness era. in the short term implementation of green industry, the practice of business process changes (business process reengineering/bpr) can be done. however, the factor of human resources is crucial factors that are influenced by many other factors, especially psychological factors in order to improve and maintain its performance. 56   journal the winners, vol. 17 no. 1, march 2016: 47-57  in facilitating the human factors, a corporation needs to heed highly influential factor for the outstanding performance like work motivation. implementation of green industry is confronted without the aec era. it proves that the best corporation in the implementation of this program could pronounce an award from the government. those criteria envisage strenuous proposition in the implementation. the criteria of the program implementation guidelines require commitment from top management so that it can manage the firm as an organization to be able to achieve a culmination performance both on organizations and individuals. in this part, the business psychology mostly can be implemented as the organizational intervention. conclusions green industry programme implementation indicates an improvement of the effectiveness and efficiency of the corporation, even corporate image, in the case of manufacturing industry, which in turn can improve overall company performance. entering the era of a competitive aec, it could force the manufacturing industry that own environmental aspects for implementing the green industry. this is analogous criteria of the green industry in terms of human resources that given the era of the aec can make a company made up of the diverse nationality of the asean economic. the community is a form of discourse for most corporations in indonesia. however, those indications must be delved if the company will hold an expansion for the improvement of corporate profits. in the implementation of green industry in the new era, business psychology with the entire scientific branch can be considered as alternative interventions so that implementation can be run more effectively and efficiently. the emendation in any form often inflicts discomfort. therefore, the implementation of a new management system in a new era also certainly can cause the nuisance. implementation of business psychology is demanded preliminary studies to the organization in order to facilitate the transition process albeit deliberate the psychology aspect to the interaction among employees in the organization. business psychology is a comprehensive science, encompasses a collection of multiform sciences of industrial and organizational psychology, sciences organizations, individual psychology and social. hence, it entails more accuracy in studying the science to be implemented in our organization. references atkinson, s. 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(2014). structuring for team success: the interactive effects of network structure and cultural diversity on team potency and performance. journal of organizational behavior and human decision processes, 124(2), 245-255. yildiz., sebahattin., basturk, f., & boz, i. t. (2014). the effect of leadreship and innovativeness on business performance. 10th international strategic management conference, procedia – social and behavioral sciences, 150, 785-793. editor in chief rudy aryanto managing editors engkos achmad kuncoro (binus university, jakarta) idris gautama so (binus university, jakarta) yasintha soelasih (atma jaya university, jakarta) levyda (sahid university, jakarta) agus zainul arifin (tarumanagara university, jakarta) executive editors arta moro sundjaja noerlina editor/setter dina nurfitria karen phang holil atmawati secretariat haryo sutanto eka yanti pangputri administration address research and technology transfer office binus university anggrek campus, jl.kebon jeruk raya 27 kebon jeruk, jakarta barat 11530 ph. 021-5350660 ext. 1708 email: hsutanto@binus.edu, raryanto@binus.edu publication & issn published twice a year (march and september) p-issn: 1412-1212 e-issn: 2541-2388 vol. 17 no. 1 march 2016 economic, business, management, and information system journal winnersthe journal p-issn 1412-1212 e-issn 2541-2388 contents andhi bharata the influence of compensation and training toward work discipline and its impact on the employees’ performance in puspiptek ........................................................... 1-7 darman analysis of the money supply and interest rate of inflation in indonesia.............. ................................ 9-18 wendy endrianto maximizing strategy with an effective balanced scorecard.............................................................. 19-27 budiman notoatmojo impact evaluation study for institution strengthening on social food distribution .................................. 29-35 fangki a. sorongan factors affecting the return stock company in indonesia stock exchange (idx) lq45 in years 2012-2015....... 37-45 murty magda pane the alternative business psychology application in green industry program towards the competitiveness of asean economic community 2016............. ........................................ 47-57 muhammad tony nawawi factors of consumer behavior that affect purchasing decisions on blackberry smartphone ....................... 59-66 jajat sudrajat; muhammad ali rahman; antonius sianturi; vendy entrepreneurship learning process by using swot analysis .............................................................. 67-75 journal p-issn 1412-1212 e-issn 2541-2388 vol. 17 no. 1 march 2016 economic, business, management, and information system journal winnersthe isi_1501-0314.fh11 ��������� ���� ������� ��� �� ������ ������������� ��������� ���� ��� ����� � ��� ��� ����������� ���� � ������� ������� � ������� ����������������������� ��! �"� ��� �#��$����� ��%�&�'��� � ������ ����� ��(��)������'��* '��� � ��� � ����� "� �*�+,���)�-.�(�/������'��* '��� �(����0����.����'��* '�� /�. 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(2023). gojek accelerate economic recovery through the digitalization of msmes in makassar. the winners, 24(1), 23-31. https://doi.org/10.21512/tw.v24i1.9388 abstract it was a qualitative descriptive research to determine the role of the digital economy in makassar city’s economic growth. during the pandemic, the role of the digital economy has been becoming increasingly crucial in encouraging the expansion of micro, small, and medium enterprises (msmes), which are the backbone of national and regional economies. the acceleration of the digital transformation of msmes in makassar city could not be separated from the support of digital platforms. before the pandemic, the digital economy, namely gojek, contributed to economic growth. makassar city's economy has experienced an increase in msme turnover registered on social sellers gofood, gopay, and gosend. the digital economy plays a vital role in driving the wheels of the makassar city economy. in 2021, gojek and goto financial were estimated to contribute around idr 4,6 trillion, or 3% of makassar city's gross regional domestic product (grdp). since data reveals that gojek food is encouraging, gojek is also accelerating digitization and financial inclusion for msmes. msmes are going digital for the first time (87%) and are using non-cash payments (51%). 37% of goride partners and 22% of gocar partners have saved regularly since joining gojek. according to estimates, the gojek ecosystem contributes idr 249 trillion, or 1,6% of indonesia’s gdp—resilience and recovery speed through increased revenue, mainly for msmes in the gojek ecosystem. during the pandemic, consumer loyalty aided economic recovery at the national and regional levels. keywords: ecosystem, digitalization, msmes, economic recovery i. introduction makassar city is south sulawesi's capital and one of the largest cities in eastern indonesia. tourists often visit makassar because of its exciting history, culture, and culinary variety (dhewanto et al., 2022). in 2021, the unemployment rate in makassar city was 13,18%, a reduction from 15,92% the previous year. in february 2022, it was recorded that 23.909 people were still unemployed, although this number decreased by 30,42% compared to february 2021, which reached 34.361 people. open unemployment in makassar is claimed to be high (ismail et al., 2022). the unemployment rate in makassar has gradually decreased (hasniati, indriasari, & sirajuddini, 2023) due to the city government's easing of community activities. figure 1 shows the number of productive citizens aged 15 and over in makassar city in 2022. to reduce the impact of covid-19 on the unemployment rate in makassar city, the digital platform company gojek is implementing a program to collect gofood local champions specifically for culinary to accommodate 350 micro, small, and medium enterprises (msmes) in makassar city (kurniawati & kustulasari, 2020). gojek commitment to encouraging the best growth for msmes and being part of innovation aligns with the city government’s strategic policy according to makassar’s tagline, city of delicious (wahyuni & noviaristanti, 2022). so far, merchants entering the gofood ecosystem have continued to increase by up to 54%, and by the end of 2022, the growth will reach 1 million msmes (ardiansyah, 2020). according to data from the ministry of cooperatives and small and medium enterprises, indonesia has a population of 64,2 million msme actors contributing to the value of the gross domestic product of 61,07% or idr 8.573.89 trillion. the in pr es s 24 the winners, vol. 24 no. 1 june 2023, 23-31 government's role in developing the financial industry and technological advances can synergize optimally (bachtiar, vandenberg, & sawiji, 2022). the number of msmes in south sulawesi province has reached 751.802 business units (dewi et al., 2022). the rest are included in the small and medium enterprises category, reaching 88.095 business units, and medium enterprises, as many as 3.129 business units (azis, sikar, & azis, 2022). other msmes include the service sector reaching 214.567 business units. the production sector reached 108.134 business units, and the industry totaled 16.745 business units. makassar city government projects economic growth in 2023 with a target of 4,90%. up 0,9% compared to the 2022 target of 4,00%. the revenue budget in the 2023 regional income and expenditure budget is idr 4.2 trillion, with details of original regional income of idr 2 trillion, transfer income of idr 2 trillion, and legitimate local revenue of idr 182 billion (simbolon & yanti, 2021). figure 1 total population of makassar city aged 15 years and over source: central bureau of statistics for makassar city, 2022 life activities for people in urban areas are very complex; thus, an acceleration that can support the activity level and needs is required (kurniawan et al., 2022). the presence of digital-based applications on smartphones, as in makassar city, is undoubtedly a tool to assist the demands of urban residents (munaiseche et al., 2022). during the economic recovery during the pandemic, the role of the digital economy has become increasingly crucial in becoming a growth partner for msmes (surya et al., 2022). approximately 15,6 thousand e-commerce businesses dominate the sale of food and beverage products, accounting for 41,5% of all sales. table 1 shows that 14 different types of goods and services have the highest percentage of e-commerce sales in indonesia. the percentage of e-commerce businesses in indonesia based on the sort of goods/services sold in 2021 is detailed in table 1 (bps, 2022). table 1 proportion of e-commerce businesses in indonesia no. types of goods and services percentage (%) 1 food and drink 41,5 2 fashion 16,25 3 household needs 9,67 4 cosmetics 6,85 5 transportation/delivery of goods 6,17 6 entertainment/hobby/sports 5,79 7 cellphones/pulse/accessories/ services 5,76 8 means of transportation 4,61 9 drugs 3,99 10 books/magazines/newspapers/office stationery 2,88 11 building materials 2,57 12 electronic goods 2,41 13 accommodation services 1,66 14 educational services 1,1 source: ahdiat (2022) micro, small, and medium enterprises in south sulawesi province have recorded a significant addition of msme actors yearly since the covid-19 pandemic (karim et al., 2022). the total msme actors in 2019 were 944.279 businesses. then it increased to 1.262.952 in 2020, and at the end of december 2021, the number of msmes had again increased by 302.182 businesses so that the total of msmes in 2021 in south sulawesi will be 1.565.134 businesses. the agricultural sector occupies the first position of the total msmes in south sulawesi, namely 37%, then trade at 29%, followed by services at 19%, non-agriculture at 11%, and other categories at 4%. msmes encounter a number of problems, including low product competitiveness that does not absorb the market, limited marketing access, and low product legality, particularly in macroenterprises (lukito-budi, manik, & indarti, 2022). during the pandemic, the government provided direct aid to 2.173 business units in makassar city, and 13.277 msmes were recorded, consisting of 5.311 household businesses, 4.647 micro-businesses, and 3.319 medium enterprises. in the meantime, the office of cooperatives noted a discrepancy of roughly 2.464 msmes and mses that did not receive direct financial assistance (tarigan, doringin, & budiana, 2022). the research aims to determine the impact of economic growth in makassar city on the msme sector through the use of digital platforms. can the gojek application help increase the economic in pr es s 25gojek accelerate economic recovery .... (abdul karim, et al.) development of msmes in makassar city, where marketing msme products through online services is more practical and easy for most urban residents? it is envisaged that the digitization of msmes and financial inclusion in makassar city will increase through the achievement of original regional income in the income tax sector among the community. one of gojek’s digital platforms, gofood, led msmes to have digital businesses for the first time (87%) and use non-cash payments (51%) in makassar city. in general, the covid-19 pandemic is considered a dangerous condition for drivers because it is detrimental to the economy, which depends on the work-on-demand system. in addition to government policies, the virus has caused anxiety in public health aspects, limiting the scope of interaction and preferring to stay at home (salsabila & jamiati, 2022). covid-19 has changed consumer lifestyles that limit activities outside the home to prevent virus transmission (abdillah, 2020). the gojek digital ecosystem's significance in the indonesian economy prior to and during the covid-19 pandemic (sulhan, 2021). since becoming gofood partners in 2020, makassar city’s micro, small, and medium enterprises have boosted their revenue by 35% (kilay, simamora, & putra, 2022). the turnover of gosend social sellers has also increased by 10%, and the turnover of msmes gopay has risen by 18% since joining gojek. in addition, 78% of gofood msmes also experienced an increase in transaction volume, and 98% of them got new customers. the gojek ecosystem does not only have an impact on msmes but outside the ecosystem also receives this impact (kaplinsky & kraemer-mbula, 2022). as with raw material providers in markets and vehicle repair shops, they also benefit from gojek's presence in makassar city, with an increase in turnover of 9%. the presence of gojek in makassar has contributed to a domino effect in other sectors. ii. methods methods or methodologies are processes, principles, and procedures we use to approach problems and seek answers. a methodology is a general approach to studying research topics (mulyana, 2008). the research is classified as descriptive research due to the data acquired in the form of descriptions. the data will subsequently be analyzed to produce an explanation or report on the gojek application’s use as a digital platform for driving economic growth in makassar city. the data gathered in the research is written data (from articles). as a result, the research can be classified as qualitative-descriptive research. the purpose of descriptive research is to describe the phenomenon and its characteristics. the research is more concerned with the what than how or why something has happened. data is frequently collected using observation and survey tools (arikunto, 2014). the data obtained in this research were collected directly by the researchers themselves, sourced from websites in indonesia, and then analyzed using the help of the nvivo 10 software. the data collection process was carried out by searching for data that matched the criteria the researchers wanted through the website. then it is stored and downloaded using the ncapture feature to make downloading articles on the website more accessible. then it is stored in the nvivo 10 software using the download feature that used the previous ncapture on the website. in this research, data analysis is the process of searching for and then systematically compiling data gathered from web search results, presenting the data, and deriving a conclusion from the data collected and validating the conclusion (rukin, 2019). data analysis was carried out by researchers using the nvivo 10 software. researchers were advised to use the ncapture feature to easily download articles and enter them into the nvivo 10 software to achieve efficiency and effectiveness goals in research (nazir, 2014). the most basic thing that every qualitative researcher must consider is how to measure the accuracy or consistency of qualitative research. to be able to determine the level of reliability in this research, researchers can use the help of the nvivo 10 plus software, which has features. coding comparison queries or coding features are usually used to provide codes or tags to articles with essential words related to the theme chosen by the researcher (espitia et al., 2016). nvivo 10 software can display features that are very useful for researchers to analyze the data they want; for example, when researchers are coding or providing code, several of the same nodes will be formed in different articles. from the several nodes formed, it will be straightforward for researchers to find the analysis results between various article sources. in the nvivo 10 software, researchers can efficiently operate it; an example of a feature in the nvivo software is the word cloud feature, which can also be called keywords. it will display keywords or keywords that are important in data analysis. then there is the hierarchical chart feature, which describes the most discussed in the article. there is also a cluster analysis feature, which can explain the relationship between one keyword and another (bandur, 2016). iii. results and discussions e-commerce transactions in makassar city from 2021 will continue to show a significant trend of increase in nominal and transaction volume. the nominal e-commerce transactions grew by 31,6% or reached idr 1,79 trillion. in line with this, the number of e-commerce transactions also increased by 68,7% or reached 16,8 million transactions throughout 2021. it shows the tendency of people in makassar city to be increasingly active in transacting via digital platforms, especially amid the covid-19 pandemic 19 and an increase in public consumption. these digital transactions positively impact the economic growth of makassar city in 2022, in pr es s 26 the winners, vol. 24 no. 1 june 2023, 23-31 growing 5,40%, higher than the 2021 achievement, which experienced growth of 4,47%. gross regional domestic product at current prices was recorded at idr 208,93 trillion, higher than in 2021, which was only idr 190,31 trillion. gross regional domestic product at constant prices has also increased to idr 133,13 trillion in 2022, higher than in 2021, which was only idr 126,31 trillion. the following is the percentage of digital activities carried out by the community in supporting economic growth in the city of makassar based on e-commerce, as shown in figure 2. figure 2 the percentage of digital transaction payments in makassar city source: author’s findings, 2022 the multiplier impact or the indirect contribution of gojek’s existence to makassar's grdp in 2019 reached idr 2,8 trillion. it is calculated from the income of msmes outside the gojek ecosystem (such as workshops used by driver partners or market traders who sell raw materials to gofood partners) after gojek operates in makassar. gojek services have become the primary choice for consumers in makassar city at this time, the ability of the gojek ecosystem to support its partners during the pandemic (futri, afisah, & saputro, 2021). until now, gojek's partners are optimistic about using online platforms as a place to make a living in the future. most consumers use goride services more often (83%) and gocar (87%); 91% use gofood services more often, and 78% use gosend more often. partners get many benefits from online platforms as a place to make a living. 2 per 3 driver partners prioritize time flexibility in partnership with gojek (elhan-kayalar, 2022). this flexibility allows them to split their time between work and family, and is free to join or cancel offers at any time (arner et al., 2022). 9 out of 10 goride driver-partners said they could still have income during the pandemic to support themselves and their families through a partnership with gojek. most goride and gocar partners state that their collaboration with gojek improves their quality of life. partners appreciate the various supports provided by gojek, such as discounts from the self-help program. initiatives to maintain security, health, cleanliness of partners, and insurance membership services. as of july 2022, 66% of indonesian shoppers directly access online shopping sites; this is the only channel that has experienced an increase. meanwhile, access through search engines, social media, and advertisements decreased by 13%. from the third quarter of 2019 to the second quarter of 2022, the number of visitors to the top ten e-commerce websites climbed by 64% nationally. the top ten e-commerce sites with the most visitors in indonesia since the second quarter of 2022 on websites for digital services are as indicated in figure 3. figure 3 average visitors/month source: author's findings, 2022 the reliability of gojek's ecosystem and solutions helps msmes and novice entrepreneurs continue to grow amid a pandemic. the income of gofood msme partners in makassar city will increase by an average of 28% in 2021 compared to 2020. 1 out of 3 msme partners are novice entrepreneurs who go digital immediately, and most msme actors believe gofood encourages business growth. the main benefits that msmes feel from partnering with gofood are 1) the opportunity to participate in the gofood promotional program, 2) expanding market access, 3) ease of operational management through the gobiz application, and 4) the ability to send food via gojek drivers. the majority of msmes think that gofood's commission fees are by the benefits they get. the existence of the gojek ecosystem helps increase the income of driver partners and msmes during the pandemic. most makassar consumers (87%) still use the gojek application, even without promos. it reflects consumers’ positive perceptions of the gojek ecosystem as a platform that supports society to remain productive and safe during a pandemic. through innovation and technology, gojek makes it easier for people to undergo a digital adaptation process during the covid-19 pandemic. 5 gojek services that are the mainstay of the community during the covid-19 pandemic, namely: 1) food ordering services and daily shopping (gofood and gomart), 2) digital payment services (gopay), 3) in pr es s 27gojek accelerate economic recovery .... (abdul karim, et al.) digital donation services (gopay), 4) entertainment services and productivity (gogames, goplay, and gotix), and 5) gosend services. even though this pandemic brought many challenges, the above trends show how gojek users can adapt to a new way of life using digital services. on the other hand, gojek will continue to innovate and use its technology to serve users, and the entire gojek ecosystem will adapt to a new way of life. the gojek platform has partnered with 16 applications, namely gopay, goclub, gobilling, goride, gocar, gojek, gosend, gobox, gofood, gomed, gomart, goplay, gotix, gobiz, gogames, and goshop. gojek is a digital platform that utilizes advanced technology, more precisely in terms of area (gps). naturally, gojek is really useful and makes it simple for many people to travel; simply by clicking and ordering via smartphone, they may go anywhere if the location is within reach. gojek is an online transportation service that offers gojek, gocar, gofood, gosend, gomart, goshop, and gobox. to encourage banking intermediation to the real sector and msmes, one of the efforts made by bank indonesia is to provide information on msme profile data that are not currently receiving bank financing but need credit/financing in the framework of developing their business (fauzi & sheng, 2021). with the availability of msme profile data in question, it is hoped that it can provide benefits for parties, especially for msmes, to accelerate access to financing from banks (karim et al., 2021). msme profile data present entrepreneur information data (company name, length of business, address, etc.) as well as business data which includes information on business activities, level of business competition, total assets, average annual sales, projected growth, financing needs, estimates assets for credit guarantees as well as the number of credit requirement documents (perwitasari, 2022) if you want to get complete information from msme profile data which includes the composition of owners and managers, lists of suppliers and customers, and business finances (balance sheet, profit and loss, and cash flow). digital-based msmes positively contribute to the realization of makassar city government revenue, as seen in table 2. msmes have proven to be the main pillar of the national economy after contributing up to 60% of the national gdp in 2021 or during a pandemic. msmes surviving during a pandemic are key in accelerating national economic recovery. gojek in makassar city helps sustain the income of thousands of micro, small, and medium enterprises (msmes) by utilizing the technological and non-technological solutions presented. gojek provided digital marketing training and the registration process to become a gofood business partner to 30 msmes in makassar through the integrated business service center for south sulawesi province. digitalization of msmes to table 2 actual makassar municipal government revenues by kind of revenues (thousand idr), 2020–2021 no. kind of revenues the year 2020 (thousand in idr) the year 2021 (thousand in idr) 1 regional revenue 1,078,328,561.27 1,139,438,031.61 regional tax 864,313,239.52 54,184,449.34 regional retribution 67,204,193.74 54,184,449.34 regional owned company revenue and separated management of regional wealth 31,875,688.80 22,251,084.16 other regional revenue 114,935,439.21 132,226,041.12 2 balance funds 1,676,121,523.29 1,687,551,396.04 tax sharing revenue 113,943,184.59 148,295,851.88 non-tax sharing revenue/natural resources 4,842,507.75 7,438,257.95 general allocation fund 1,249,647,391.00 1,233,440,789.38 special allocation fund 307,688,439.95 298,376,496.83 3 other revenue 56,212,202.05 457,353,094.54 grant 165,818,274.71 emergency fund tax sharing revenue from provincial and other regional government 302,750,607.33 261,622,311.94 regional adjustment and autonomy fund 74,623,320.00 30,304,767.00 financial assistance from provincial or other regional government 26,020,000.00 7,004,400.00 others 158,421,615.16 total 3,323,662,286.60 3,284,342,522.20 source: author's findings, 2022 in pr es s 28 the winners, vol. 24 no. 1 june 2023, 23-31 accelerate regional economic recovery. it is certainly not easy; the challenges msmes face are mainly related to readiness in terms of products and human resources. in addition, efforts to increase literacy for the benefits of entering the digital ecosystem and incubation to accelerate msme readiness need to be carried out intensively. the digital economy plays a significant role in driving the wheels of the economy in makassar city. the role of the digital economy during this pandemic has become increasingly important to encourage the growth of micro, small, and medium enterprises, which are the backbone of the national and regional economies. the acceleration of the digital transformation of msmes in makassar city cannot be separated from the support of digital platforms, one of which is gojek. during normal times prior to the pandemic, the digital economy, such as gojek, played an important role in driving the economy in makassar city, south sulawesi, by raising the turnover of gofood msme, gopay msme, and gosend social sellers. the turnover of gosend social sellers has also increased by 10%, and the turnover of gopay msme has increased by 18% since joining gojek. in addition, 78% of gofood msmes also experienced an increase in transaction volume, and 98% of them got new customers. gojek’s presence in makassar has had a domino effect in other sectors, namely the multiplier impact or the indirect contribution of gojek's existence to makassar’s grdp in 2019, reaching idr 2,8 trillion. it is calculated from the income of msmes outside the gojek ecosystem (such as workshops used by driver partners or market traders who sell raw materials to gofood partners) after gojek operates in makassar. gojek strives to respond to the various needs of msmes to adapt and grow. it is done to realize gojek's commitment to supporting the implementation of msme training and onboarding facilitation into the gojek ecosystem. in addition to digital adoption, msmes need assistance from the time they join to selling online in the form of education and capacity building to optimize business growth. therefore, through digital solutions and educational forums, gojek can continue to be a partner and solution for msmes to continue to grow in advancing the national economy. most online traders in indonesia use online logistics services from the gojek application, namely gosend. an online logistics service that provides ease of use of applications and best supports seller productivity by providing the most efficient service. gosend is also an online logistics service that provides its users with the most sense of security, above the average industry satisfaction (rauf et al., 2021). online logistics services in indonesia continue to grow along with the development of online shopping trends through e-commerce, social media, or other media. most digital service users are aged between 18 to 29 years (45,83%) and 30 to 41 years (41,67%), with an average monthly income of idr 2,5 million to idr 5 million (31,58%) and idr 5 million to idr 10 million (28,95%). express online shopping services (quick commerce) are quite popular in indonesia. the products most frequently purchased by the public through quick commerce are necessities, snacks, cooking necessities, and vegetables and fruit. the presence of online transportation applications in makassar city positively impacts the national economy. the gojek application has contributed to the provision of employment and increased sales of msmes digitally. the contribution of gojek partners to makassar city’s gross regional domestic product in 2021 will reach idr 4,8 trillion or contribute to driving 3% of makassar city’s grdp. if calculated using the added value method to the makassar economy, gojek will contribute idr 4,6 trillion in 2021. the turnover of msmes that have joined gofood in 2021 will increase by 35%, the turnover of gosend social sellers will increase by 10%, and the turnover of gopay msmes will increase by 18% since joining gojek. meanwhile, 78% of gofood msmes also experienced an increase in transaction volume, and 98% of them got new customers. during the economic recovery period during the pandemic, the role of the digital economy has become increasingly crucial in becoming a growth partner for msmes. gojek also accelerated the digitization of msmes and financial inclusion, as shown by data that gofood also led msmes to have digital businesses for the first time (87%) and use non-cash payments (51%). this research focuses more on the gojek platform, which increasingly shows its existence as an on-demand platform in the country, especially in makassar city through msmes. it first appeared in 2010 and went viral because it provided income of idr 8 million for motorcycle taxi drivers. gojek appears to have been in operation for 12 years. during this time, it is envisaged that gojek driver-partners would reach 2,6 million, able to become employed to reduce the poverty rate in makassar city, which has climbed by 74,69 thousand people, an increase of 69,98 thousand people compared to 2020. the percentage of poor people was 4,82%, an increase compared to 2020 of 4,54%, an increase of 0,28 points from december 2020. due to the covid-19 pandemic, communities that have joined the gofood application since 2021 have surpassed 1 million partners. gojek motorbike or goride driver-partners experienced an increase in income of up to 24% compared to 2020. not much less than goride, partners who provide gojek car or gocar services also experienced an increase in income of up to 18%. in 2021, gojek driver revenue has increased by 24%, while gocar driver revenue has increased by 18%. msme partners 4 out of 5 believe that gofood, a gojek service for ordering food, has driven their business development. it also affects 9 out of 10 partners who plan to have a long-term partnership with gofood. another finding is that 1 out of 3 gofood business partners is novice entrepreneurs who immediately go digital. compared to their partners, who are goride and gocar partners, the income of these gofood partners in pr es s 29gojek accelerate economic recovery .... (abdul karim, et al.) has grown more rapidly. in 2021, gofood msme partners will experience an increase in income of 66%. this figure is greater than income in 2020. not only for personal income, but the contribution of the gojek ecosystem to the national economy in 2020 has also reached idr 249 trillion. this figure is equivalent to 1,6% of gdp in 2020. gojek has sent 14 million orders to more than 200 cities in indonesia. meanwhile, as of december 2021, there were 15,1 million merchants in the goto ecosystem. as well as, 59,3 million users transact via goto. this research will likely serve as a reference for further research in studying gojek’s role in unraveling regional economic development. iv. conclusions since its establishment, gojek has been an application that provides online transportation facilities and competes with other online transportation applications in indonesia. gojek, an application founded through the work of the nation’s children from 2010 until now, has provided 22 application services. the gojek ecosystem continues to contribute positively to the national economy every year. gojek’s technological and non-technological solutions help driver-partners and micro, small, and medium enterprises to be more resilient and recover their economy more quickly through increasing income in 2021 compared to 2020. the gojek application has provided employment and reduced poverty in makassar city. it can be seen from the increase in the grdp of makassar city every year through the development of the number of msmes in the community. the presence of gojek in makassar city, apart from increasing grdp at a macro level, this digital-based application can contribute to the occurrence of economic transactions in densely populated residential areas. the presence of digital platforms such as gojek has a positive impact on the community in meeting their needs for meeting the necessities of life, a positive impact on the income of gojek drivers and sales of msme products. so that policies are needed that are more impartial and think about the fate of the drivers for the sake of family economic sustainability for the drivers. the gojek company should be more open to receiving external researchers to add to the study of company policies so that they can improve and develop institutions in a better direction. gojek drivers should not park irresponsibly on the side of the road to avoid disrupting the smooth traffic flow and causing congestion at various space points in makassar city. future researchers are expected to examine more sources and references related to the impact of the gojek online platform on reducing unemployment rates in makassar city. msmes in makassar city who partner with gojek significantly impact the increasing income of msmes who partner with gojek in makassar city. furthermore, researchers suggest that msmes in makassar city, especially those who partner with gojek, should focus more on using e-commerce applications. to improve skills that will increase the income of msmes in makassar city. likewise, other msmes have not penetrated e-commerce as a tool for marketing their products. references abdillah, l. a. 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(2022). startup characteristics and the role of business incubators in indonesia. indonesian journal of business and entrepreneurship (ijbe), 8(2), 251-251. https://doi. org/10.17358/ijbe.8.2.251 microsoft word 03_haryadi sarjono_metode perhitungan.doc journal the winners, vol. 2 no. 1, maret 2001: 18-24 18 metode perhitungan angka indeks produktivitas menggunakan model marvin e mundel haryadi sarjono1 abstract there are several measures and methods to basically perform the productivity of calculation. marvin e mundel (1978) methods uses calculation approach index number, which is amount that shows the difference change of time between basic period and actual period. the result can be decrease, stabil, or increase. keywords: productivity, index abstrak terdapat beberapa ukuran dan metode untuk menunjukkan perhitungan produktivitas. metode marvin e. mundel menggunakan pendekatan metode perhitungan angka indeks produktivitas, yaitu jumlah yang menunjukkan perubahan mendasar dalam kurun waktu atau periode tertentu terhadap suatu masalah. hasilnya dapat menurun, stabil, atau meningkat. kata kunci: produktivitas, indeks 1 staf pengajar fakultas ekonomi, ubinus, jakarta metode perhitungan angka indeks… (haryadi sarjono) 19 pendahuluan dalam keadaan ekonomi yang makin memprihatinkan banyak perusahaan pabrikasi (khususnya sektor riil) menjadi terpuruk. mereka tidak lagi mengandalkan profit atau laba perusahaan tetapi hanya mengandalkan survive perusahaan saja. untuk menjadi perusahaan yang survive, harus dilakukan efisiensi di segala bidang. perhitungan produktivitas model marvin e mundel (1978) mendasarkan pada angka indeks yang merupakan besaran dan menunjukkan perubahan mendasar dalam kurun waktu atau periode tertentu terhadap suatu masalah. pembahasan konsep dasar 1. efisiensi (doing the things rigths) efisiensi umumnya berhubungan dengan masukan (input), misalnya berdasarkan standar, ditetapkan tingkat output adalah 300 unit/jam/tenaga kerja. seorang operator mesin yang bernama pak joni hanya mampu menghasilkan 200 unit/jam. dalam hal ini tingkat efisiensi dari pak joni adalah sebagai berikut. efisiensi = performansi aktual pak joni/standar yang ditetapkan, yaitu 200/300 = 0,75 atau 75%. dengan demikian agar dapat meningkatkan efisiensi tenaga kerja (operator), keterampilan pak joni dalam mengoperasikan mesin perlu ditingkatkan. 2. efektivitas (doing the right rigths) efektivitas umumnya berhubungan dengan output (keluaran). misalnya berdasarkan rencana pada bulan juni 1999, pabrik xyz akan memproduksi 2000 unit output . setelah proses produksi berlangsung diketahui output aktual yang dihasilkan pabrik hanya 1600 unit. efektivitas = output aktual / output rencana =1600/2000 = 0,8 atau 80%. kadang-kadang orang salah menyebutkan antara efisiensi dengan efektivitas. dalam persoalan di atas sering dikatakan efisiensi perusahaan hanya 80% turun sebanyak 20% dibandingkan target. 3. produktivitas apabila ukuran keberhasilan produksi selama ini hanya dipandang dari sisi output saja maka produktivitas dipandang dari dua sisi sekaligus, yaitu sisi input dan output. dengan demikian, dapat dikatakan produktivitas berkaitan dengan efisiensi penggunaan input dalam memproduksi output (barang atau jasa). produktivitas = output yang dihasilkan input yang dihasilkan journal the winners, vol. 2 no. 1, maret 2001: 18-24 20 = pencapaian tujuan penggunaan sumber daya = efektivitas pelaksanaan tugas efisiensi penggunaan sumber-sumber daya = efektivitas efisiensi metode perhitungan pada dasarnya, perhitungan angka indeks merupakan besaran yang menunjukkan perbedaan perubahan dalam waktu atau ruang mengenai hal tertentu. seperti diketahui bersama bahwa angka indeks telah menjadi patokan untuk menghitung besarnya angka inflasi di indonesia, yaitu indeks harga (konsumen) yang digunakan untuk mengukur perubahan harga sepanjang periode tertentu. selain indeks harga juga dikenal indeks produksi yang digunakan untuk mengukur perubahan produksi perusahaan penghasil produk barang secara fisik. untuk menghitung angka indeks maka harus ada periode tahun dasar atau periode waktu dasar tertentu sebagai pedoman atau patokan membandingkan angka indeks, tahun atau waktu yang akan kita hitung nantinya. hasilnya, apakah naik, stabil, atau menurun. tabel 1 contoh menghitung indeks harga (konsumen) (sadono sukirno, 1994) kelompok barang weight tahun dasar (1980) tahun (1993) harga (rp) harga x harga rp harga x a 50 1,000 50,000 2,000 100,000 b 20 5,000 100,00 11,000 220,000 c 5 5,000 25,000 16,000 80,000 d 25 3,000 75,000 8,000 200,000 100 250,00 600,000 tahun 1980 adalah tahun dasar atau tahun patokan. indeks harga tahun dasar 1980 adalah =100 (digunakan angka 100 adalah asumsi saja untuk mempermudah perhitungan nantinya). indesks harga tahun 1993=(rp 600.00 / rp 250.000)*100 =240. dengan demikian antara tahun 1980 dan 1993 harga telah meningkat sebanyak 140% (dari 240-100). metode marvin e. mundel (1978) memperkenalkan penggunaan angka indeks produktivitas pada tingkat perusahaan berdasarkan tiga bentuk pengukuran sebagai berikut. • p = (jumlah aopm / jumlah ripm) (jumlah aopb / jumlah ripb) metode perhitungan angka indeks… (haryadi sarjono) 21 • p = (jumlah aopm / jumlah aopb) (jumlah ripm / jumlah ripb) • p = (aop 1m + aop 2m / rip 1m + rip 2m +rip 3m) (aop 1b + aop 2b / rip 1b + rip 2b +rip 3b) aop = agregat output partil rip = resource input partial b = tahun dasar m =periode liputan ( pengukuran) rip 1 = input partial dari capital cost rip 2 =input partial dari energi peralatan buruh langsung rip 3 = input partial dari buruh tidak langsung aop 1 = output partial dari dari nilai capital langsung aop 2 = output partial dari biaya buruh langsung aop 3 = output partial dari biaya buruh tidak langsung sebagai cotoh penerapan model mundel, ada data perusahaan xyz yang tediri dari periode waktu seperti di bawah ini. tabel 2 data input dan output pt xyz (vincent gaspers, 1998) no. keterangan tahun 1980 (periode dasar) tahun 1998 1. total output 3000 unit 4000 unit 2. jam tenaga kerja langsung 6000 unit 9000 unit 3. gaji tenaga kerja langsung rp.130 juta rp.149,5 juta 4. depresiasi modal rp.39 juta rp. 45,5 juta 5. nilai buku modal rp. 117 juta rp.234 juta 6. biaya total langsung rp.195 juta rp 247 juta 7. biaya total keseluruhan rp.260 juta rp. 344,5 juta 8. jumlah energi 1000 kw 1200 kw 9. material 9000 kg 13000 kg di dalam data tersebut (tabel 2), apabila ada item lainnya yang perlu ditambahkan atau dikurangi dapat dapat dikonversikan ke dalam satuan moneter (nilai uang) atau satuan fisik lainnya (kg, kw, jam, dan lain-lainnya). perhitungan akan menggunakan rumus mundel yang kedua tetapi rumus mundel yang pertama dan ketiga dapat digunakan sebagai alternatif lain (ketiga–tiganya menghasilkan angka yang sama). • indeks produktivitas tenaga kerja p = (( aopm/aopb) / (ripm / ripb) *100 = (( 4000 / 3000 ) / (9000/6000)) * 100 = 88.89 journal the winners, vol. 2 no. 1, maret 2001: 18-24 22 berarti angka indeks produktivitas tenaga kerja periode 1998 menurun, yaitu 100% sebesar 11,11 (100-88,89) dibandingkan periode dasar ( tahun 1980) yaitu 100. • indeks produktivitas gaji tenaga kerja langsung p = (( aopm/aopb) / (ripm / ripb) *100 = (( 4000 / 3000 ) / (149,5 / 130)) * 100 = 115,94 berarti angka indeks produktivitas gaji tenaga kerja langsung periode 1998 naik sebesar 15,94 % (115,94 – 100) dibanding periode dasar ( tahun 1980) yaitu 100. • indeks produktivitas depresiasi modal p = (( 4000 / 3000) / (149,5 / 130 )) * 100 = 114,29 berarti angka indeks produktivitas depresi modal periode 1998 naik 4,29 % q (114,29 – 100) dibanding periode dasar (tahun 1980) yaitu 100 • indeks produktivitas nilai buku modal p = (( 4000 / 3000) / (45,5 / 39 )) * 100 = 66,65 berarti angka indeks produktivitas nilai buku modal periode 1998 menurun sebesar 33,35 % (100 66,5) dibandingkan periode dasar ( tahun 1980) yaitu 100. • indeks produktivitas biaya total langsung p = (( 4000 / 3000) / (247 / 195 )) * 100 = 105,24 berarti angka indeks produktivitas biaya total langsung periode 1998 hanya sebesar 5,24 % (105,24 100) dibandingkan periode dasar ( tahun 1980 ) yaitu 100. • indeks produktivitas biaya total keseluruhan p = (( 4000 / 3000) / (344,5 / 260 )) * 100 = 100,60 berarti angka indeks produktivitas nilai buku modal periode 1998 hanya naik kecil sekali yaitu 0,60 % (100,60 100) dibandingkan periode dasar ( tahun 1980 ) yaitu 100. • indeks produktivitas energi p = (( 4000 / 3000) / (1200 / 1000 )) * 100 = 111,08 berarti angka indeks produktivitas energi periode 1998 naik sebesar 11,08 % (111,08 100) dibandingkan periode dasar ( tahun 1980 ) yaitu 100. • indeks produktivitas material p = (( 4000 / 3000) / (13000 / 9000 )) * 100 metode perhitungan angka indeks… (haryadi sarjono) 23 = 92,86 berarti angka indeks produktivitas material periode 1998 menurun sebesar 7.14 % (100 – 92,86) dibandingkan periode dasar ( tahun 1980 ) yaitu 100. tabel 3 indeks produktivitas pt xyz no . keterangan tahun 1980 (periode dasar) tahun 1998 perubahan 1 tenaga kerja langsung 100 88.9 turun 11,11 % 2 gaji tenaga kerja 100 115.94 naik 15,94 % 3 depresiasi 100 114.29 naik 14,29 % 4 nilai buku 100 66.65 turun 33,35 % 5 biaya total 100 105.24 naik 5,24 % 6 biaya total keseluruhan(langsung+tidak) 100 100.6 naik 0,60 % 7 jumlah energi 100 111.08 naik 11,08 % 8 materia 100 92.86 naik 7,14 % catatan: 1. angka indeks tahun dasar diasumsikan =100 2. apabila indeks angka tahun pengukuran lebuh dari 100, berarti ada peningkatan (naik) dibandingkan tahun dasar. 3. apabila indeks angka tahun pengukuran kurang dari 100, berarti ada penurunan produktivitas dibandingkan tahun dasar. penutup simpulan 1. dari hasil perhitungan model marvin e . mundel (1978) terlihat ada beberapa data input jumlah kuantitasnya naik (dibandingkan periode dasar) tetapi produktivitas relatif menurun antara lain sebagai berikut. a. jam tenaga kerja langsung turun 11,11 % b. nilai buku modal turun 33 ,35 % c. material turun 7,14 % 2. selain data input di atas, ada juga data input lainnya yang jumlah kuantitasnya meningkat tetapi produktivitasnya juga meningkat antara lain sebagai berikut. a. gaji tenaga kerja langsung naik 15,94 % b. depresiasi modal naik 14,29% c. biaya total langsung naik 5,24% d. biaya total keseluruhan naik 0,60% e. jumlah energi naik 11,08% journal the winners, vol. 2 no. 1, maret 2001: 18-24 24 3. dari hasil perhitungan telihat nilai buku modal mengalami penurunan yang cukup drastis sebanyak 33,35 %. hal itu sebaiknya menjadi perhatian pihak manejemen perusahaan agar diambil tindakan perbaikan sehingga pada periode berikutnya input dari nilai buku modal dapat meningkat produktivitasnya. daftar pustaka gaspersz, vincent. 1998. produktivitas total dalam bisnis globalisasi. jakarta: gramedia. herjanto, eddy. 1997. manajemen produksi dan operasi. jakarta: grasindo. sukirno, sadono. 1994. pengantar makro ekonomi. jakarta: raja-grafiti. tamit, zulian. 1996. manajemen produksi dan operasi. cetakan pertama. yogyakarta: ekonisia, uii. in pr es s *corresponding author p-issn: 1412-1212 e-issn: 2541-2388 121 the winners, 23(2), september 2022, 121-130 doi: 10.21512/tw.v23i2.8060 improving marketing performance and product innovation capability through digital knowledge sharing (case study in food processing smes) ken sudarti1*; putri wira paramita dewi2 faculty of economics and business, universitas islam sultan agung jl. kaligawe raya no. km. 4, terboyo kulon, genuk, semarang, jawa tengah 50112, indonesia 1kensudarti@unissula.ac.id; 2putriwirapd@gmail.com received: 05th january 2022/ revised: 07th april 2022/ accepted: 11th april 2022 how to cite: sudarti, k. & dewi, p. w. p. (2022). improving marketing performance and product innovation capability through digital knowledge sharing (case study in food processing smes). the winners, 23(2), 121-130. https://doi.org/10.21512/tw.v23i2.8060 abstract the research aimed to examine the mediating role of product innovation capability with customer orientation and digital knowledge sharing to increase marketing performance. the research had a total of 185 food processing smes in blora, central java, indonesia who often do digital knowledge sharing. they were obtained to become the respondents of the research by using purposive sampling. the research model was tested using multiple linear regression analysis with spss software. the findings show that product innovation capability is proven to mediate customer orientation and digital knowledge sharing on marketing performance. furthermore, the research expects that good customer orientation, digital knowledge sharing, and product innovation capability become the beginning of success in achieving and improving the marketing performance of food processing smes in blora during the pandemic so that smes can continue to operate and develop. it occurs necessary for future research to involve some other smes from within and outside blora in order to expand the population and samples. keywords: customer orientation, digital knowledge sharing, product innovation capability, marketing performance i. introduction the drivers of economic growth that can increase total income and per capita income are small and medium enterprises (smes). small and medium enterprises (smes) are productive economic enterprises carried out by business entities or individuals and are not subsidiaries or branches. the development of smes continues to get attention from various groups, especially the government. they improve performance by providing access to technology transfer and regular digitalization training and coaching specifically for the sme sector so that they can achieve success by maximizing their performance. the research focuses on the model of improving marketing performance and product innovation capability in digital knowledge sharing. the success rate of smes can be seen from the results of the smes performance, one of which is marketing performance. a company's success in creating a product that is marketed will lead to its marketing performance (tamanggung, 2018). to improve marketing performance, it is necessary to do knowledge sharing. knowledge sharing is considered a tool for organizations to gain knowledge that changes an organization's behavior and marketing performance (nguyen et al., 2019). having the habit of doing knowledge sharing within the organization will impact each individual and the organization. the role of knowledge sharing in improving marketing performance has received much attention from researchers. damanik (2020) state that knowledge sharing affects marketing performance since knowledge sharing with colleagues are considered normal so that their performance in the organization could continue to increase. however, in the current difficult situation caused by a dynamic environment, knowledge sharing is difficult to do directly. therefore, there is a need for renewal in knowledge sharing by utilizing digitalization, commonly referred to as digital in pr es s 122 the winners, vol. 23 no. 2 september 2022, 121-130 knowledge sharing. media that can be used for digital knowledge sharing are instagram, youtube, facebook, whatsapp, and so forth. knowledge sharing related to the provision of information is considered to increase product innovation capability. in creative thinking, people must have an essential creative mindset that can help solve problems to get solutions (mulyana, assegaf, & wasitowati, 2015). therefore, knowledge sharing is considered essential to developing skills and competencies and maintaining competitiveness. knowledge sharing approach from perspective of innovation or explanatory knowledge sharia is expected to become a knowledge sharing trend in the future (memah, 2017). one way to improve marketing performance is through product innovation capability. innovative is an essential driver of the growth and well-being of nations, affecting and providing benefits to consumers, businesses and the economy as a whole (mendozasilva, 2020). the existence of innovation can help solve problems creatively to improve performance in their business, as jalilvand (2017) reveals that innovation is an essential dimension for business performance in organizational success. innovation capability is considered as one-dimensional phenomenon including the actions that could be implemented to enhance the performance of smes (saunila, 2020). customer orientation is required to improve product innovation capability. according to valenzuela-fernández et al. (2020) customer orientation is one of the most important challenges that companies face nowadays, because they need to co-create value for the client, but at the same time, they have to focus on how to increase the value of the relationship with the client. frequently, customers are increasingly critical in choosing products, so that they require companies to further improve their innovation capabilities in creating new products that are different from competing products. the research model is tested on food processing smes in blora regency, indonesia. blora has several sme sectors such as agriculture, livestock, mining, restaurants, etc. one of the sme sectors that dominate in blora regency is food processing industry sector. the obstacles that smes often come across are: 1) the increase in similar business actors, 2 many business actors who have created innovations but lack enthusiasm from customers, 3) marketing activities still rely on word of mouth and other offline promotional media, 4) the sales volume decrease at the beginning of the pandemic, and 5) the transformation of coaching directly (offline) to online during this pandemic. the research is urgently applied to food processing smes in blora regency, indonesia, because the activities carried out face to face are very difficult to do. if smes do not immediately realize how important the digital world is in business continuity, other business actors will be left behind. it is expected that product innovation capability can mediate the relationship between customer orientation and digital knowledge sharing on marketing performance. the research results are also expected to increase knowledge, especially in the field of marketing performance. hidayah and purnadi (2017) define marketing performance as a concept used to measure the achievement of company strategies within a specific time. meanwhile, yasa et al. (2020) define that marketing performance is among the measures of firm performance. the performance can be measured using the level of annual sales, market share growth, and operational profit. good marketing performance is marked by increased sales growth and a broader market share than before. meanwhile, poor marketing performance is indicated by declining sales and market share, declining sales compared to the previous year and competitors in the same industry (utomo & nugraha, 2017). according to rosadian (2020), customer orientation is a company's commitment to prioritize customers through fulfilling customer needs and desires to create customer satisfaction. customer refers to the extend organizations and their employees are committed to meeting customer needs and improving customer well-being (zhao, 2022). meanwhile, according to feng et al. (2019), customer orientation reflects a firm’s strategic to focus on the market, and it is defined as a “firm orientation toward the promotion and support for the collection, dissemination, and responsiveness to market intelligence to serve customer needs”. organizations have seen knowledge as their most valuable competitive resource for over two decades. it is unique differentiator that requires strategic management. traditional sources of competitive advantage, such as basic labor and capital, are almost universally available these days (kucharska & erickson, 2020). according to muafi (2020), knowledge sharing is the behavior of accepting new knowledge and donating the knowledge possessed to other individuals or organizations who need it to be useful. knowledge sharing can be useful for building organizational networks and increasing organizational efficiency and effectiveness. meanwhile, according to ali, paris, and gunasekaran (2019), knowledge sharing is the process of transferring knowledge from individuals or groups to other individuals or groups using appropriate media. this statement is in line with (islam et al., 2012), that knowledge sharing can be done through various interactions and media so that individuals would perceive each other’s knowledge. the rapid development of science, technology, and information has led to new media in sharing the knowledge, which is called as digital knowledge sharing. according to eze et al. (2013), digital knowledge sharing is a channel that can share knowledge on various media such as facebook, whatsapp, or other social media. digital knowledge sharing consists of two dimensions: 1) digital in pr es s 123improving marketing performance.... (ken sudarti; putri wira paramita dewi) knowledge donating (sharing knowledge through digital media) and 2) digital knowledge collecting (gaining knowledge through digital media). digital knowledge sharing refers to those activities through which employees share knowledge digitally with actors within or outside the organization (tønnessen et al., 2021). digital knowledge sharing is a continuous with the digital environment that produces direct effects and certain changes in knowledge acquisition patterns (nugraha, irwansyah, & purwadi, 2021). according to fazizah and guntarayana (2020), innovation capability is the ability to develop new products that can satisfy the market, perform productivity with modern technology, develop new products for long-term needs, and respond to changing activities unexpected opportunities carried out by competitors. in essence, the level of desire of each consumer is different and dynamic. consumers look at the value of the product and pay attention to the added value compared to other similar products. innovation capability is also defined as the valuable assets for the firms to provide and sustaining competitive advantage and in the implementation of the entire strategy. the capability of innovation facilitates firms to introduce new product quickly and adopt new systems rather it is important to factor for feeding the ongoing competition (rajapathirana & hui, 2018). customer-oriented companies will be stronger in developing their innovation capabilities concerning creating superior value in new products, product quality, and product design. customer orientation in the company is positively related to innovative companies, to the capacity for innovation in services, and to a propensity for innovation. this orientation contributes to the competitive advantage of a company if it is combined with innovation capacity (schlesinger & emilio, 2018). fidel, schlesinger, and emilio (2018), with research objects smes in spain, also provide a sufficient understanding of market orientation in terms of customer demand, customer behavior patterns, market potential, and competitiveness to create innovations according to their capacity. based on the previous research, when a company is customer-oriented, they tend to have a better understanding every customer's needs and tastes in order to create value and satisfaction for customers so that they will try to improve their innovation capabilities. further, the consumers will be interested in buying the marketed products. h1: customer orientation has a positive influence on product innovation capability the intensity of knowledge sharing can increase individual knowledge in the organization to encourage individuals to innovate. with regard to the relationship between knowledge sharing and innovation capability, it is clear that capability in transforming and applying knowledge determines a firm’s degree of innovation, for instance, faster problem-solving and quick response to the changes of business environment (le & lei, 2019). organizational innovativeness is closely related to creating and exploiting knowledge resource available within organizations (lam et al., 2021). in the context of innovation, knowledge sharing is the exchange of expertise oriented to create or improve products and services of value. knowledge sharing is an important resource underlying product development capability (castaneda & cuellar, 2020). chang, liau, and wu (2017), on the car industry in taiwan, find that by sharing knowledge, new ideas would emerge by promoting renewable technology to compete to create innovations that are different from other car industries. meanwhile, le and lei (2018) point out that by means of knowledge sharing in organizational learning application, chinese firms can benefit from collective knowledge and significantly affect innovation capabilities (such as innovation speed and innovation quality) and competitive advantages. when individuals often do knowledge sharing (knowledge donating and knowledge collecting), they will have updated knowledge, so that their ability to generate many creative ideas in creating new products and imitating competitors' products will increase. furthermore, the market dynamics will also increase. h2: digital knowledge sharing has a positive effect on product innovation capability the success of marketing performance depends on customers willingness to consume and repurchase the products produced by an organization. neneh (2018) on smes in the free state province, south africa, shows that sme players have paid attention to the dynamics of their customers, but they also continue to explore and expand their understanding of market conditions to plan more cost-effective strategies so that performance can run well. domi, capelleras, and musabelliu (2019) on tourism smes in albania has prioritized customer needs since customer orientation is an essential factor that affects the performance of not only one tourism but also consolidated with other tourism. based on the previous research, when an organization is customer-oriented, marketing performance will increase in accordance with the planned target. h3: customer orientation has a positive effect on marketing performance knowledge sharing will generate a process of transfer self-upgrading, the formation of new organizational groups, the exchange of information, and indirectly create an arena for promotions and networks, which will have a positive impact on the marketing performance (setini et al., 2020). the application of knowledge sharing in an organization can be disseminated, implemented, and developed, which will impact marketing performance. muafi (2020) on batik msmes in pekalongan and klaten, indonesia, states that knowledge sharing can be an organizational asset in improving msme performance if they can manage their knowledge and cannot be imitated in the current digital era. in pr es s 124 the winners, vol. 23 no. 2 september 2022, 121-130 therefore, it is believed that when an organization often conducts knowledge sharing, usually within the organization, good cooperation has been created between individuals so that sharing activities are easy to implement, which will impact the effectiveness and efficiency of performance. h4: digital knowledge sharing has a positive effect on marketing performance companies without innovation will not survive in the world of business competition. innovation is necessary to make a firm different, thus obtaining a competitive advantage, while innovative capability of companies and individuals in the company have a positive causal correlation with sme performance described by (afriyie, du, & musah, 2020). naala, nordin, and omar (2017), on smes in nigeria, suggest the importance of innovation capabilities in designing, developing, and implementing new ideas that can improve the performance of smes. research by (soto-acosta et al., 2018) suggest that innovation contributes positively to firm performance in smes. meanwhile, research by (rajapathirana & hui, 2018) in the sri lankan insurance industry revealed that product and marketing innovations are the driving force for the increased performance of insurance companies in sri lanka. based on the above study, when an organization can maximize its ability to create products that can meet the needs and desires of customers in accordance with market dynamics, the sales volume and profits will increase so that the innovation capabilities owned and run by the company will improve marketing performance. h5: product innovation capability has a positive effect on marketing performance product innovation capability is defined as the company's ability to develop new ideas that can increase customer satisfaction. research by (produção et al., 2020) on business organizations in brazil shows that companies with a tendency to customer orientation will be able to collect information and knowledge about the market in creating innovations that can provide satisfaction to consumers. therefore, a customer-oriented company will tend to have a high level of marketing performance. meanwhile, shafi (2020), on handicraft smes in pakistan, finds that competent resources in understanding customers can affect the performance of smes through their innovation capabilities. a customer-oriented organization will try to improve its innovation capability to create quality products in accordance with market trends. products received in the market can increase sales volume accompanied by an increase in sales profit, more customers, and wider distribution. h6: product innovation capability has a role in mediating customer orientation on marketing performance high innovation ability tends to be more successful in responding to a dynamic environment to develop its ability to generate new ideas to achieve superior performance. wang, sharma, and cao (2016) point out that companies in china set priorities in knowledge sharing to explore their capabilities in presenting new ideas by involving technology to achieve company performance goals. laily and ernawati (2020), conducting research on batik smes in surabaya, explains that a culture of knowledge sharing needs to be carried out so that business actors have more comprehensive information and knowledge to improve their innovation capability so that the performance of smes can continue to improve rapidly. based on the studies that have been conducted, knowledge sharing will have a significant effect on the performance of individuals within the organization if they have high product innovation capabilities. individuals who can take advantage of their abilities to share and receive knowledge from other individuals will develop innovations or ideas to create new products and modify existing products. innovations that have been designed can improve their marketing performance. h7: product innovation capability has a role in mediating digital knowledge sharing on marketing performance the research model is presented in figure 1 figure 1 research model in pr es s 125improving marketing performance.... (ken sudarti; putri wira paramita dewi) ii. methods the research uses a quantitative approach to explain the causal relationship between independent and dependent variables. the population of the research is all food processing smes in blora regency, that actively use social media. there are 25 parameters so that the minimum sample is 125 respondents. however, the research takes 250 respondents to minimize data errors. determination of the number of samples refers to hair et al. (2018), about five times the estimated parameters. using the purposive sampling method, the research selects respondents who have established a business for at least three years and often share social media knowledge. the data collection method is carried out by distributing questionnaires through google forms and direct interviews with smes. 250 questionnaires are distributed to respondents, but only 185 questionnaires turn out to be eligible for analysis according to the criteria. respondents consist of 77,8% women and 22,2% men, dominated by ages between 31 to 40 years. as many as 44,9 % of respondents have the latest undergraduate education while the rests are diploma and senior high school level. most of the respondents have established their business for 3-6 years by 60%. in contrast, the rest have been in existence for seven years to more than ten years. marketing performance is defined as the level of achievement of the results of a product marketed within a certain period of time as measured using indicators of sales volume growth, customer growth, profit growth, and expansion of marketing reach (hidayah & purnadi, 2017). product innovation capability is defined as a company's ability to create products, modify products, and develop products to be able to realize sustainable quality products as measured by indicators, namely: 1) the ability to create new products, 2) the ability to improve product quality, 3) the ability to modify old products, and 4) the ability to imitate competitors' products (umar, 2020). customer orientation is defined as the understanding of smes towards customer needs and preferences, understanding every customer complaint in order to create products that can satisfy and create customer value on an ongoing basis which is measured using indicators such as: 1) understanding customer demands and tastes, 2) understanding customer complaints, 3) understanding the essential to create customer value, and 4) understanding that creating customer satisfaction is essential (azizah & maftukhah, 2017). digital knowledge sharing is defined as the intensity of knowledge sharing both receiving and gaining new knowledge from individuals or groups to other individuals or groups using social media as measured using the indicators such as: 1) digital knowledge donating (sharing) and 2) digital knowledge collecting (obtaining). the knowledge includes new food variants, modification of processed foods, shifts in customer tastes (firmanda, 2021). multiple linear regression analysis aims to determine the relationship between the dependent variable and the independent variable whether each variable is positively or negatively related. there are two regression models in the research. first, multiple linear regression to determine the direct effect between customer orientation (co) and digital knowledge sharing (dks) on product innovation capability (pic). second, multiple linear regression to determine the direct influence between customer orientation (co), digital knowledge sharing (dks), product innovation capability (pic) on marketing performance (mp). a good regression model is seen from the larger t-test and f-test, and the p-value does not exceed 0,05 (ghozali, 2016). the research uses the classical assumption test to determine whether there are data deviations. the normality test explains that the residual value is normally distributed by using the kolmogorovsmirnov test statistical test. tolerance values less than 0,1 and value inflation factor (vif), not more than ten, explain that there is no multicollinearity between independent variables. meanwhile, to find out the variance inequality of the residuals using the glacier test with a reference p-value of not more than 0,05. furthermore, the research uses the sobel test to determine the indirect effect of independent variables on the dependent variable. iii. results and discussions a validity test is used to determine whether the instrument (questionnaire) distributed is valid. the reliability test aims to test the consistency of the measuring instrument, whether the results remain consistent or not when the measurement is repeated. this research instrument used cronbach alpha with a value greater than 0,60. the testing technique is to correlate each item's score with a total score. the results of this study indicate that the p-value of each indicator is less than 0,05, which indicates that the research instrument is valid. in contrast, the cronbach alpha value for each variable range from 0,608 to 0,769, which indicates that the research is reliable or consistent. validity and reliability tests can be found in table 1. the normality test results showed that the first and second regression models were normally distributed because they had a significance value of 0,057 and 0,200, which were more than 0,05. in the first regression model and the second regression model, there is also no relationship or correlation between independent variables, so that there is no multicollinearity because the vif is less than ten and the tolerance value is more than 0,1. each regression model has a significance value of more than 0,05 so that there is no similarity between variables. this means that there is no heteroscedasticity, and further in pr es s 126 the winners, vol. 23 no. 2 september 2022, 121-130 testing can be carried out. the first regression model test results obtained a calculated f-value of 13,642 with a p-value of 0,000. meanwhile, in the second regression model, the calculated f-value is 37,478 with a p-value of 0,000. therefore, the independent variable can explain the dependent variable in each model. based on the results of hypothesis testing in the first regression, it shows that co – pic (β = 0,228, p-value < 0,001); dks – pic (β = 0,241, p-value < 0,001); co-mp (β = 0,365, p-value < 0,000); dksmp (β = 0,260, p-value < 0,000); pic-mp (β = 0,247, p-value < 0,000). thus, h1, h2, h3, h4, and h5 are accepted. the summary of hypothesis test results are provided in table 2. the results of the sobel test are used to test the indirect effect between variables according to the procedure developed by sobel (ghozali, 2016). the first model indicates that product innovation capability can indirectly affect customer orientation towards marketing performance because the t-count value of 2,00111552 is greater than the t-table value of 1,973. furthermore, the second model indicates that product innovation capability can indirectly affect digital knowledge sharing on marketing performance because the t-count value of 3,789359594 is greater than the t-table value of 1,973. the summary of mediating variable test results is shown in table 3. marketing performance can be increased through product innovation capability. meanwhile, digital knowledge sharing and customer orientation can also encourage improving product innovation table 1 validity and reliability test results variables r p-value ca (α) customer orientation (co) understanding customer desires and tastes 0,603** 0,000 0,626 understanding customer complaints 0,754** 0,000 0,626 creating customer value is important 0,714** 0,000 0,626 understand that creating satisfaction is important 0,674** 0,000 0,626 digital knowledge sharing (dks) often share knowledge about new food variants 0,646** 0,000 0,769 often share knowledge about modification of processed foods 0,714** 0,000 0,769 often share knowledge about shifting customer tastes 0,786** 0,000 0,769 often get knowledge about new food processing variants 0,538** 0,000 0,769 often gain knowledge about modification of processed foods 0,702** 0,000 0,769 frequently gain knowledge about shifting customer tastes 0,716** 0,000 0,769 product innovation capability (pic) ability to create new products 0,792** 0,000 0,663 ability to improve product quality 0,581** 0,000 0,663 ability to modify old products 0,722** 0,000 0,663 ability to imitate competitor's products 0,717** 0,000 0,663 marketing performance (mp) sales volume growth 0,655** 0,000 0,608 customer growth 0,735** 0,000 0,608 profit growth 0,678** 0,000 0,608 expansion of marketing reach 0,653** 0,000 0,608 table 2 parameters for direct effect hypothesis regression beta b se cr p-value results h1 co pic 0,228 0,331 0,102 3,235 0,001 accepted h2 dks – pic 0,241 0,116 0,034 3,429 0,001 accepted h3 co-mp 0,365 0,469 0,078 5,981 0,000 accepted h4 dks-mp 0,260 0,110 0,026 4,237 0,000 accepted h5 pic-mp 0,247 0,218 0,055 3,953 0,000 accepted model 1: adj r2 = 0,121; f = 13,642; p-value = 0,000. model 2: adj r2 = 0,373; f = 37,478; p-value = 0,000 note: co = customer orientation, dks = digital knowledge sharing, pic = product innovation capability, mp = marketing performance. in pr es s 127improving marketing performance.... (ken sudarti; putri wira paramita dewi) capability. the role of customer orientation and digital knowledge sharing not only directly affects product innovation capability on marketing performance but has also been indirectly influenced. table 3 parameters for indirect effect hypothesis regression cr t-table results h6 co – pic – mp 2,001** 1,973 accepted h7 dks – pic – mp 3,789** 1,973 accepted customer orientation positively affects product innovation capability, meaning that higher customer orientation increases product innovation capability. food processing smes in blora regency can understand customers’ desires, try to respond to complaints quickly, and create satisfaction for their customers. customer orientation makes it easier for them to improve their product innovation capability by creating new products and modifying products by prioritizing quality and imitating competitor products with their respective characteristics. the research results are in line with research by jalilvand (2017) and fidel et al. (2018), that customer orientation has a positive effect on innovation capability. sufficient understanding of customer orientation in the context of customer demand, business actors must be able to take advantage of their capabilities to fulfil customer desires by creating innovative products and services. digital knowledge sharing positively affects product innovation capability, which means that higher digital knowledge sharing causes product innovation capability to increase. digital knowledge sharing activities are not limited by space and time. they use social media whatsapp for knowledge sharing. knowledge sharing activities to share and gain knowledge of new variants, modification of processed foods and shifts in customer tastes will increase product innovation capability. the research results are in line with research by wang and wang (2012) and chang et al. (2017), that knowledge sharing has a significant positive effect on innovation capability. knowledge sharing will bring up new ideas so that they can compete to generate different innovations according to the customers’ desires. customer orientation has a positive effect on marketing performance, meaning that the higher the customer orientation, the higher the marketing performance. smes try to understand the desires and always respond to customer complaints and create value for customers. satisfied customers will recommend so that new customers can be achieved, which means the number of their customers will increase, which will result in increased sales volume and profits and wider marketing reach. the results are in line with research by neneh (2018), domi et al. (2019), and umar (2020), that customer orientation has a significant positive effect on marketing performance. even though sme players already know the dynamics of customers, they still need to explore on an ongoing basis market conditions so that the performance of smes will not decrease and run optimally. digital knowledge sharing positively affects marketing performance, meaning that higher digital knowledge sharing leads to higher marketing performance. digital knowledge sharing between members inside and outside the organization makes business actors more updated about new products and modifications to old products and recognizes shifts in customer tastes. good cooperation between business actors will improve marketing performance so that sales volume, profits, and customers increase, then the product marketing reach is also wider. the results shows similarity with research conducted by muafi (2020), that knowledge sharing has a significant positive effect on marketing performance. business actors who frequently share knowledge will have better understanding on market shifts and dynamics so that performance continues to improve. product innovation capability positively affects marketing performance, meaning that the higher the product innovation capability, the higher the marketing performance will also increase. smes in improving their product innovation capability is manifested in the form of always trying new food processing ideas and modifying old products, imitating competitor products and always trying to improve product quality. products that have developed and are selling well in the market impact increasing sales volume and profits, increasing the number of customers and making products more widespread. the results of this study are in line with research conducted by (saunila, pekkola, & ukko, 2014 ; (naala et al., 2017); rajapathirana & hui, 2018), that innovation capability has a significant positive effect on performance. innovations that are designed, developed, and implemented have an important role in creating new ideas and modifying them to improve smes' performance. product innovation capability has a role in mediating customer orientation on marketing performance. this condition indicates that better customer orientation and high product innovation capability will increase marketing performance. smes are trying to find information about wants and customers, respond to customer criticism and suggestions and create value and customer satisfaction. customer criticism and suggestions make them cultivate their product innovation capability to create new products, modify old products, and try to imitate competitor products that are trending in the market. products received in the market will impact increasing sales volume and profits and increasing customers. the results of this study are in line with research by (shafi, 2020; produção et al., 2020), that innovation capability mediates the relationship between customer orientation and business performance. companies with a tendency to customer orientation will have the ability to gather information and knowledge about in pr es s 128 the winners, vol. 23 no. 2 september 2022, 121-130 the market. by developing a deep understanding, the company can create innovations that can provide satisfaction to customers so that it impacts increasing marketing performance. product innovation capability has a role in mediating digital knowledge sharing on marketing performance. this condition indicates that more digital knowledge sharing and high product innovation capability will improve the marketing performance. smes can share knowledge about new variants and product modifications and changes in customer taste without being asked due to the culture and strong cooperation between their members. knowledge sharing can improve their ability to create new products and modify old products by paying attention to the quality of each product. the more products that customers favor, the more they will recommend to others so that customers increase, sales volume and operating profit are under the expected target, and the product range is wider. the results of this study are in line with research by laily and ernawati, (2020) and pranowo et al. (2021), that innovation capability mediates the relationship between digital knowledge sharing and firm performance. smes will be superior if knowledge sharing is balanced with innovation capability so that the performance of smes continues to increase rapidly. iv. conclusions marketing performance of food processing smes can be increased through product innovation capability. besides, product innovation capability can be increased through customer orientation and digital knowledge sharing. it means, food processing smes can achieve sales volume growth, customer growth, profit growth and expansion of marketing reach when they are able to create new products, product quality, modify old products and imitate competitors’ products. the ability to perform products can be encouraged through a stronger understanding that: 1) creating customer value is important, 2) customer complaints must be addressed, and 3) products should meet customer’s desire and demand. in addition, in order for food processing smes to have product innovation capability, they must share knowledge more often and be exposed to information about new food processing variants, changing customer tastes, and modifications of food processing smes. the research provides several managerial implications related to the research variables. in connection with increasing understanding in creating value, it is important that food processing smes in blora regency, indonesia, can be more committed to themselves always to improve service to every customer's needs even though the processed food products marketed are in high or low sales because doing business does not only sell goods but also must provide satisfactory service to customers. increasing digital knowledge sharing behavior regarding the shift in customer tastes also needs to be improved by sharing updated information and knowledge about processed foods favored by customers. in addition, business actors also need to be more active in seeking the latest product information to increase their ability to imitate products to create similar products that are modified according to their respective characteristics. in concern of the customer growth increase, it is hoped that food processing smes in blora regency can expand product distribution networks, intensify offline and online promotions, sell products using e-commerce, and participate in bazaars so that they can expand product range and increase the number of customers both from within and outside the city. along with increasing marketing performance, it is better if food processing smes in blora regency increases their understanding of customers and the intensity of knowledge sharing so that marketing performance activities are more effective and efficient without having to carry out activities to increase their product innovation capability. the research limitation lies on the two independent variables, namely customer orientation and digital knowledge sharing. therefore, it is necessary to expand research by including other supporting variables such as entrepreneur orientation, learning orientation, creativity, brand knowledge, competitive advantage and other variables related to increasing marketing performance. the process of collecting online questionnaires in the research causes the respondent’s data to take a longer time and the answers are only based on the collected questionnaires. in addition, the research uses the scope of the population in blora regency only, so the description of the respondents is considered not optimal. for future research, it is necessary to increase the number of population and samples by involving several similar smes from within and outside blora. references afriyie, s., du, j., & musah, a. a. i. 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(2022). customer orientation: a literature review based on bibliometric analysis. sage open, 12(1), 215824402210798. https://doi. org/10.1177/21582440221079804 48 journal the winners, vol. 14 no. 1, maret 2013: 48-54 peningkatan niat pembelian melalui website wirawan pt bank central asia, tbk., wisma asia i lt. 21 jln. letjen. s. parman kav. 79, slipi, jakarta barat 11420 wirawan.chen@gmail.com abstract in globalization era, technology is rapidly growing. nowadays many companies use technology in their business with the purpose to support internal and external activities, such as online sales. currently, the level of competition in the field of online sales is getting bigger because there are many companies get into the market. the purpose of this study is to help new website of pt pos indonesia (galeripos) face competition and increase the intention of visitor to visit galeripos and the number of transaction there as well. this study was conducted to know how website quality and perceived risk influence online trust of web visitors and the impact on online purchase intention. the method used in this research is path analysis. data had collected by distributing questionnaires through social media. as conclusion, website quality, perceived risk, and online trust, individually and simultaneously, have significant influence on online purchase intention. keywords: website quality, perceived risk, online trust, online purchase intention abstrak pada era globalisasi sekarang, teknologi berkembang dengan sangat pesat. banyak perusahaan menggunakan teknologi dalam melakukan bisnis dengan tujuan untuk membantu kegiatan internal maupun eksternal, seperti penjualan secara online. sekarang ini, tingkat persaingan di bidang penjualan online makin besar karena banyak perusahaan masuk ke pasar tersebut. penelitian ini dilakukan untuk membantu website baru pt pos indonesia (galeripos). penelitian bertujuan membantu pt pos indonesia menghadapi persaingan dan meningkatkan niat pengunjung website galeripos untuk melakukan transaksi melalui website galeripos. pada pelitian ini dilakukan pengujian pengaruh website quality dan perceived risk terhadap online trust dan dampaknya terhadap online purchase intention. metode analisis yang digunakan dalam penelitian ini adalah analisis jalur. sementara data kuesioner penelitian disebarkan melalui media sosial. hasil penelitian menunjukkan bahwa website quality, perceived risk, dan online trust, secara individu maupun simultan, memiliki pengaruh terhadap online purchase intention. kata kunci: website quality, perceived risk, online trust, online purchase intention peningkatan niat pembelian..... (wirawan) 49 pendahuluan pada era globalisasi terjadi banyak perubahan dalam hal teknologi, pendidikan, dan sebagainya. salah satu yang mengalami perubahan yang paling banyak adalah teknologi internet. internet merupakan jaringan yang menghubungkan komputer-komputer yang ada di dunia. internet dalam beberapa tahun terakhir ini telah mengalami perubahan secara pesat terutama semenjak internet sudah dapat diakses melalui smartphones, tablet, dan lain-lain. kebanyakan masyarakat mengakses internet untuk berbagai kegiatan seperti transaksi bisnis, streaming, mencari informasi, browsing, chatting dengan menggunakan aplikasi yahoo messanger, skype, dan lainnya. internet tidak hanya mengalami perkembangan di masyarakat tetapi juga di perusahaan. sekarang sudah banyak perusahaan yang memanfaatkan internet untuk membuat website internal maupun eksternal. secara umum perusahaan membuat website internal agar dapat meningkatkan kinerja karyawan, menjaga hubungan dengan supplier, mengontrol inventori, dan lain-lain. sedangkan perusahaan membuat website eksternal dengan tujuan untuk meningkatkan penjualan, menjaga loyalitas konsumen, dan mengetahui keluhan konsumen, dan sebagainya. saat ini perusahaan yang telah menerapkan penjualan online sudah makin banyak. hal ini disebabkan penjualan online merupakan salah satu bisnis yang memliki pasar bisnis yang cukup bagus. selain pasar bisnis yang bagus, jumlah konsumen online juga makin bertambah karena kepercayaan mereka terhadap penjualan online makin tinggi. apalagi, ketika ada online banking seperti klikbca yang dapat mendukung proses jual beli online pada suatu perusahaan. pt pos indonesia merupakan salah satu perusahan besar yang bergerak dalam bidang jasa pengiriman barang. pt pos indonesia telah memiliki 3.800 kantor cabang dengan jumlah unit pelayanan 26 ribu yang tersebar di setiap daerah indonesia. saat ini pos indonesia telah meluncurkan bisnis baru, yaitu galeripos yang bergerak dalam divisi penjualan online. tingkat persaingan dalam bisnis online ini makin tinggi, seiring dengan perkembangan internet. walaupun jumlah konsumen pengguna situs online meningkat, kompetitor yang memanfaatkan situs online untuk menjalankan usaha mereka juga makin banyak. selain itu, pemain lama dalam bidang penjualan online seperti blibli.com, bhinneka.com, berniaga.com menjadi salah satu penghambat bagi pendatang baru untuk dapat eksis dalam persaingan. pt pos indonesia memiliki visi menjadi perusahaan yang bergerak di bidang e-commerce dan dapat bersaing dengan amazon.com. melalui observasi, diketahui jumlah pembelian pada website galeripos masih sedikit karena website ini baru diluncurkan. jumlah orang yang mengetahui website tersebut juga masih sedikit, serta tingkat kepercayaan yang masih rendah dari pengunjung website tersebut. oleh karena itu, pt pos indonesia harus meningkatkan kualitas website dan mengatasi kekurangan-kekurangan dari website tersebut. berdasarkan latar belakang, penelitian dilakukan terhadap website galeripos (wwww.galeripos.com). diharapkan, melalui penelitian ini minat pembelian pengunjung melalui website galeripos pt pos indonesia dapat meningkat. kerangka teori leonidio, montezano, dan carvalho (2011) menyebutkan bahwa website quality terdiri dari beberapa dimensi, yaitu: dimensi usability, quality of information, dan quality of interaction with the service. dimensi usability berhubungan dengan bagaimana proses interaksi antara manusia dengan komputer dan bagaimana pelanggan memahami dan berinteraksi dengan website serta kualitas yang berkaitan dengan desain dan kegunaan. contohnya adalah penampilan dan kemudahan dalam 50 journal the winners, vol. 14 no. 1, maret 2013: 48-54 penggunaan website. dimensi quality of information berkaitan dengan kualitas konten atau isi dari website, seperti: informasi yang berguna untuk pengguna, informasi yang tepat, pengguna dengan mudah dapat mengerti isi informasi website, serta menggunakan format yang tepat. dimensi quality of interaction with the service merupakan mutu dari interaksi pelayanan yang dialami pengguna ketika mereka menyelidiki website lebih dalam. hal itu terwujud dengan kepercayaan dan empati. sebagai contoh, isu dari keamanan transaksi dan informasi, pengantaran produk, personalisasi dan komunikasi dengan pemilik website. lebih lanjut, djojosoedarso (2003) mendefinisikan risk sebagai suatu ketidakpastian atau kemungkinan terjadinya sesuatu yang menyebabkan kerugian atau adanya penyimpangan dari hasil yang sebenarnya dengan hasil yang diharapkan. sementara trieschamann, hoyt, dan sommer (2005) mendefinisikan risk sebagai suatu keadaan ketidak pastian yang kemungkinan menyebabkan kerugian. berdasarkan pengertian tersebut, maka dapat disimpulkan risk merupakan suatu keadaan ketidakpastian atau adanya kemungkinan terjadi sesuatu yang menyebabkan kerugian dan penyimpangan dari hasil yang diharapkan. dalam penelitian sukma (2012) dikatakan bahwa dalam transaksi online setidaknya ada tiga macam risiko yang mungkin terjadi, yaitu risiko produk, risiko transaksi, dan risiko psikologis. risiko produk merupakan risiko yang mengacu pada ketidakpastian bahwa produk yang dibeli akan sesuai dengan yang diharapkan oleh pelanggan. risiko transaksi adalah risiko yang berkaitan dengan ketidakpastian yang akan berakibat merugikan konsumen dalam proses transaksi. risiko psikologis merupakan risiko yang berupa ketakutan-ketakutan yang mungkin terjadi selama pembelian atau setelah pembelian. kemudian ie & denny (2013) mendefinisikan online trust sebagai kepercayaan pihak tertentu terhadap yang lain dalam melakukan hubungan transaksi berdasarkan suatu keyakinan bahwa orang yang dipercayainya tersebut akan memenuhi segala kewajibannya secara baik sesuai yang diharapkan. ada 3 faktor yang membentuk kepercayaan seseorang terhadap yang lain. pertama, ability, mengacu pada kemampuan kompetensi dan karakteristik penjual/organisasi dalam memengaruhi dan mengotorisasi wilayah yang spesifik. hal ini berkaitan dengan bagaimana penjual mampu menyediakan, melayani, sampai mengamankan transaksi dari gangguan pihak lain. artinya, konsumen memperoleh jaminan kepuasan dan keamanan dari penjual dalam melakukan transaksi. kedua, benevolence, merupakan kemauan penjual dalam memberikan kepuasan yang saling menguntungkan antara dirinya dengan konsumen. profit yang diperoleh penjual dapat dimaksimalkan, tetapi kepuasan konsumen juga tinggi. penjual bukan semata-mata mengejar profit maksimal semata, melainkan juga memiliki perhatian yang besar dalam mewujudkan kepuasan kosumen. ketiga, integrity, berkaitan dengan bagaimana perilaku atau kebiasaan penjual dalam menjalankan bisnisnya. informasi yang diberikan kepada konsumen apakah benar sesuai dengan fakta atau tidak. kualitas produk yang dijual apakah dapat dipercaya atau tidak. integrity dapat dilihat dari sudut kewajaran, pemenuhan, kesetiaan, keterusterangan, keterkaitan. lalu ling, daud, piew, keoy, & hassan (2011) mendefinisikan online purchase intention sebagai suatu keadaan, bahwa konsumen bersedia dan bermaksud untuk melakukan transaksi online. menurut utomo, lestariningsih, dan suhari (2011), niat beli adalah rencana untuk membeli barang atau jasa pada waktu ke depan. dimensi niat beli pada toko yang berbasis web terdiri dari 3, yaitu: niat beli ke depan melalui website tersebut, merekomendasikan kepada orang lain tentang pembelian melalui website tersebut, serta dalam waktu dekat melakukan pembelian. berdasarkan penjelasan online purchase intention, maka dapat disimpulkan bahwa online purchase intention merupakan suatu keadaan konsumen bersedia dan memiliki rencana untuk untuk melakukan transaksi secara online. hubungan website quality dengan online trust hasil pengujian hipotesis ie dan denny (2013) menunjukkan bahwa website berpengaruh terhadap trust dalam e-bisnis dengan hasil tingkat signifikansi sebesar 0,037 yang lebih kecil dari alpha yaitu sebesar 0,05. artinya, website memiliki pengaruh terhadap online trust dalam e-bisnis peningkatan niat pembelian..... (wirawan) 51 dengan tingkat keyakinan 95%. hal tersebut menunjukkan bahwa pengunjung website akan merasa senang ketika mendapatkan informasi produk melalui jaringan yang mudah diakses dengan menggunakan internet. konsumen juga merasa keamanan dan kepastian pada transaksi sangat penting dalam website online. ha1: website quality (x1) memiliki pengaruh yang signifikan terhadap online trust (y). hubungan perceived risk dengan online trust berdasarkan hasil penelitian ling, daud, piew, keoy, dan hassan (2011) terdapat hubungan antara perceived risk dengan online trust. dengan meminimalkan risiko-risiko yang dirasakan akan meningkatkan atau memperkuat kepercayaan online, dan pada akhirnya akan meningkatkan niat pembelian online. ha2: perceived risk (x2) memiliki pengaruh yang signifikan terhadap online trust (y). ha3: website quality (x1) dan perceived risk (x2) memiliki pengaruh yang signifikan terhadap online trust (y). hubungan perceived risk dengan purchase intention sementara hasil penelitian cheng, tsai, cheng, dan chen (2012) menunjukkan hubungan antara perceived risk dengann purchase intention dengan hasil ß =-0.19, p <0.001. pada penelitian dijelaskan bahwa dengan meminimalkan risiko yang ada akan meningkatkan tingkat niat pembelian. hasil penelitian tersebut mendukung hasil penelitian sebelumnya (ling, daud, piew, keoy, & hassan, 2011) yang juga menemukan bahwa terdapat hubungan antara perceived risk dengan purchase intention. ha4: perceived risk (x2) memiliki pengaruh yang signifikan terhadap online purchase intention (z). hubungan website quality dengan purchase intention penelitian qureshi, fang, ramsey, et al (2009) menunjukkan bahwa terdapat hubungan antara website quality dengan purchase intention dengan hasil 0,286. website quality yang bagus akan meningkatkan online trust yang pada akhirnya akan meningkatkan online purchase intention. ha5: website quality (x1) memiliki pengaruh yang signifikan terhadap online purchase intention (z). hubungan online trust dengan purchase intention lalu dari penelitian broutsou & fitsilis (2012) ditunjukkan adanya hubungan online trust dengan online purchase intention. pada penelitian tersebut dikatakan bahwa online trust adalah sangat penting dan disebut sebagai kunci untuk e-commerce, dan oleh karena itu, membangun kepercayaan bahkan lebih penting. hasil pengujian hipotesis tersebut mendukung penelitian sebelumnya (ling, daud, piew, keoy, & hassan, 2011; ling, chai, & piew, 2010) yang juga menunjukkan adanya hubungan antara online trust dengan online purchase intention. ha7: online trust (y) memiliki pengaruh yang signifikan terhadap online purchase intention (z). ha8: website quality (x1) dan perceived risk (x2) serta online trust (y) memiliki pengaruh yang signifikan terhadap online purchase intention (z). 52 journal the winners, vol. 14 no. 1, maret 2013: 48-54 berdasarkan hipotesis penelitian, kerangka pemikiran penelitian ini adalah seperti yang ditunjukkan pada gambar 1. gambar 1 kerangka penelitian metode penelitian ini menggunakan metode penelitian asosiatif. penelitian asosiatif merupakan metode yang digunakan untuk mencari hubungan dan pengaruh dari suatu variabel dengan variabel lainnya. sedangkan untuk pengumpulan data, penelitian menggunakan kuesioner. karena penelitian ini membahas tentang tingkat niat pembelian di galeripos (www.galeripos.com), unit analisis dari penelitian adalah individu yang pernah mengunjungi website galeripos pt pos indonesia. sedangkan jenis metode penelitian yang digunakan berdasarkan waktu dalam penelitian ini adalah crosssectional. metode analisis data yang digunakan dalam penelitian ini adalah path analysis. hasil dan pembahasan melalui penelitian ini, maka dapat diketahui bahwa ha1 website quality memiliki pengaruh yang secara signifikan terhadap online trust sebesar 11,24% dengan sifat pengaruh kuat. untuk ha2 perceived risk memiliki pengaruh yang secara signifikan terhadap online trust memiliki 29,7% dengan sifat pengaruh kuat. tinggi rendahnya perceived risk pengunjung memengaruhi tingkat online trust pengunjung terhadap perusahaan. sedangkan untuk ha3 website quality dan perceived risk secara simultan memiliki pengaruh signifikan terhadap online trust sebesar 64,6% dan sisanya sebesar 35.4% merupakan pengaruh dari variabel lainnya yang berasal dari luar penelitian ini. dengan demikian, dapat diketahui bahwa website quality dan perceived risk berpengaruh terhadap online trust baik secara individu maupun simultan. pada ha4, website quality memiliki pengaruh yang secara signifikan terhadap online purchase intention sebesar 2,34% dengan sifat pengaruh sedang. tingkat website quality akan memengaruhi tingkat online purchase intention pengunjung. untuk ha5, perceived risk memiliki pengaruh yang signififkan terhadap online purchase intention sebesar 27,77% dengan sifat pengaruh kuat. tinggi rendahnya perceived risk pengunjung memengaruhi tingkat online purchase intention pengunjung. untuk ha6, online trust memiliki pengaruh yang signifikan terhadap online purchase intention sebesar 7,6176% dengan sifat pengaruh sedang. tinggi rendahnya online trust pengunjung memengaruhi tingkat online purchase intention pengunjung. untuk ha7, secara simultan website quality, perceived risk, dan online trust memiliki pengaruh signifikan terhadap online purchase intention sebesar 75,9% dan sisanya sebesar 24.1% merupakan pengaruh dari variabel website quality online purchase intention perceived risk online trust peningkatan niat pembelian..... (wirawan) 53 lainnya yang berasal dari luar penelitian ini. gambar 2 menunjukkan hasil analisis jalur variabelvariabel dalam penelian ini. gambar 2 hasil path analysis simpulan berdasarkan hasil analisis, tingkat website quality dari galeripos pt pos indonesia harus diperhatikan dan ditingkatkan. analisis menunjukkan bahwa website quality dapat meningkatkan tingkat kepercayaan dan tingkat pembelian online. peningkatan website quality dapat dilakukan dengan meningkatkan tingkat keakuratan informasi yang ada pada website. selain website quality, yang harus diperhatikan adalah perceived risk karena memiliki pengaruh yang signifkan terhadap online trust dan online purchase intention. menurunkan tingkat perceived risk dapat meningkatkan online trust dan online purchase intention. menurunkan tingkat persepsi risiko dapat dilakukan dengan cara menurunkan persepsi risiko pengunjung akan hasil transaksi yang tidak sesuai dengan harapan mereka. online trust dari suatu perusahaan memiliki pengaruh yang signifikan terhadap online purchase intention. peningkatan online trust akan meningkatkan online purchase intention. untuk meningkatkan online trust, maka dapat dilakukan dengan cara meningkatkan tingkat keamanan dari website galeripos. daftar pustaka broutsou, a., & fitsilis , p. 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(2011). evaluation of perceived quality of the website of an online bookstore: an empirical application of the barnes and vidgen model. journal of information systems and technology management, 8(1), 109–130. x 1 x 2 y z 0,595 0,491 0,276 -0,527 -0,545 0,338 -0,637 54 journal the winners, vol. 14 no. 1, maret 2013: 48-54 ling , k. c., daud , d., piew, t. h., keoy, k. h., & hassan, p. (2011). perceived risk, perceived technology, online trust for the online purchase intention in malaysia. international journal of business and management, 6(6), 167–182. ling, k. c., chai, l. t., & piew, t. h. (2010). the effects of shopping orientations, online trust and prior online purchase experience toward customers’ online purchase intention. international business research, 63-76. qureshi, i., fang, y., ramsey, e., mccole, p., ibbotson, p., & compeau, d. 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(marcella marsetiani)     1  model optimasi penentuan kombinasi produk menggunakan metode linear programming pada perusahaan bidang fashion marcella marsetiani pt astakarya busanaprima jln. sawo kav 25, jakarta selatan, dki jakarta marcella.marsetiani@yahoo.com abstract the aims of this research are to determine the most optimal method for sales forecasting, to show the number of sales forecast on march 2014, and to determine the appropriate and efficient product mix should be produced by pt astakarya busanaprima within the fashion industry. this research used six forecasting methods and linear programming technique by maximize function with eight decision variables: jackets, dresses, blouses, kebaya, caftans, skirts, pants, and shawls also with constrained factors: available time for work, primarily material, supporting material, and demand fluctuation. the results show that the best forecasting method for the company was linear regression which predicted that 17 jackets, 247 dresses, 78 blouses, 42 kebaya, 12 caftans, 15 skirts, 17 pants, and 4 shawls would be sold on march 2014. the appropriate and efficient product mix that should be produced on march 2014 are 17 jackets, 70 dresses, 78 blouses, 42 kebaya, 12 caftans, 15 skirts, 17 pants, and 4 shawls. keywords: optimization, forecasting, linear programming, maximization, product mix abstrak penelitian ini bertujuan untuk mengetahui metode peramalan apakah yang paling optimal, berapa banyak peramalan jumlah penjualan yang dapat diperoleh, dan kombinasi produk yang tepat dan efisien yang harus diproduksi oleh pt astakarya busanaprima yang bergerak di bidang fashion dan memproduksi pakaian jadi khusus wanita. dalam melakukan peramalan jumlah penjualan, digunakan enam metode teknik peramalan, sedangkan penentuan kombinasi produk yang harus diproduksi dianalisis dengan teknik program linier dimana formulasi model dengan fungsi tujuan maksimisasi, delapan variabel keputusan (jacket, dress, blouse, kebaya, kaftan, skirt, pants, dan shawl), dan empat batasan model yang utama (jumlah jam kerja yang tersedia, bahan baku utama, bahan pendukung, dan fluktuasi permintaan). hasil menunjukkan bahwa metode peramalan yang paling baik bagi perusahaan adalah regresi linier, yang pada periode maret 2014 diramalkan bahwa 17 unit jacket, 247 unit dress, 78 unit blouse, 42 unit kebaya, 12 unit kaftan, 15 unit skirt, 17 unit pants, dan 4 unit shawl akan terjual. kombinasi produk yang tepat dan efisien yang harus diproduksi pada periode maret 2014 adalah 17 unit jacket, 70 unit dress, 78 unit blouse, 42 unit kebaya, 12 unit kaftan, 15 unit skirt, 17 unit pants, dan 4 unit shawl. kata kunci: optimasi, peramalan, pemrograman linier, maksimasi, kombinasi produk 2                           journal the winners, vol. 15 no. 1, maret 2014: 1-7  pendahuluan pt astakarya busanaprima merupakan perusahaan yang bergerak dalam industri fashion dan memproduksi pakaian jadi khusus wanita. masalah utama yang terjadi pada pt astakarya busanaprima adalah fluktuasi tingkat permintaan pada jumlah penjualan (gambar 1). sedangkan input (sumber daya) memiliki keterbatasan, sehingga diperlukan pengalokasian resources yang tepat dan tata kelola sistem manajemen yang baik. dengan pengalokasian dan tata kelola yang baik, pt astakarya busanaprima dapat memenuhi setiap permintaan yang ada. maka dari itu, penentuan target produksi yang tepat diperlukan agar jumlah yang diproduksi dapat menjawab permintaan pasar tepat sasaran di tengah banyaknya produk atau pesaing yang beredar di pasar mode. dengan demikian, tidak terjadi over-production ataupun over-capacity. jika jumlah produksi melebihi jumlah permintaan, dapat menyebabkan pengembalian barang (retur) dari store yang terpaksa harus disimpan di gudang. penumpukan barang dalam jangka waktu yang lama akan memakan banyak biaya. gambar 1 grafik jumlah penjualan (2011-2013) (sumber: pt astakarya busanaprima) berdasarkan latar belakang yang telah dikemukakan, formulasi masalah dalam penelitian ini adalah pertama, metode peramalan apakah yang paling optimal bagi pt astakarya busanaprima. kedua, berapa banyak peramalan jumlah penjualan yang dapat diperoleh pt astakarya busanaprima pada periode maret 2014. ketiga, bagaimana kombinasi produk yang tepat dan efisien yang harus diproduksi oleh pt astakarya busanaprima pada periode maret 2014. untuk itu, penelitian ini bertujuan untuk, pertama, mengetahui metode peramalan apakah yang paling optimal bagi pt astakarya busanaprima. kedua, untuk mengetahui berapa banyak peramalan jumlah penjualan yang dapat diperoleh pt astakarya busanaprima pada periode maret 2014. ketiga, untuk mengetahui kombinasi produk yang tepat dan efisien yang harus diproduksi oleh pt astakarya busanaprima pada periode maret 2014. landasan teori optimasi produksi optimasi produksi adalah suatu cara untuk merencanakan atau mengatur penggunaan sumber daya yang dimiliki perusahaan, seperti: bahan baku, tenaga kerja, modal kerja, dan fasilitas produksi supaya dapat memenuhi permintaan konsumen, mengoptimalkan bahan baku yang ada dan agar proses produksi dapat berjalan dengan efektif dan efisien. beberapa cara untuk dapat mengoptimalkan produksi, yakni: meningkatkan kualitas produksi, manfaat produksi, bentuk fisik produksi, dan mengatur jumlah produksi (astuti, linawati, & mahatma, 2013). adapun beberapa teknik penyelesaian dalam menentukan optimasi produksi. salah satunya adalah model program matematis,     model optimasi penentuan..... (marcella marsetiani)     3  yang termasuk pada klasifikasi umum untuk model alokasi dalam menentukan keputusan optimal dan pola dari alokasi sumber daya (igwe & onyenweaku, 2013). forecasting peramalan (forecasting) adalah suatu upaya untuk memperoleh gambaran mengenai apa yang akan terjadi di masa mendatang, yang akan menjadi dasar dalam membuat perencanaan. nilai strategis dari fungsi peramalan dan perencanaan dapat dinyatakan sebagai “bridging the gap between where we are now and where we want to be” (wignjosoebroto, 2003:337). menurut gass dan fu (2013), peramalan diperlukan jika terdapat ketidakpastian dan banyak pula situasi yang penuh dengan ketidakpastian, sehingga prosedur peramalan yang tepat dapat membantu dalam mengurangi dan menilai ketidakpastian juga membantu para manajer untuk dapat mengambil keputusan dengan lebih baik lagi. linear programming banyak keputusan utama yang dihadapi oleh seorang manajer perusahaan untuk mencapai tujuan perusahaan dengan batasan situasi lingkungan operasi. pembatasan tersebut meliputi sumber daya, misalnya : waktu, tenaga kerja, energi, bahan baku, atau uang; atau dapat berupa bentuk batasan pedoman, misalnya resep untuk membuat makanan atau spesifikasi teknik. secara umum, tujuan perusahaan yang paling sering terjadi adalah sedapat mungkin memaksimalkan laba atau meminimalkan biaya. saat manajer berusaha untuk menyelesaikan masalah dengan mencari tujuan yang dibatasi oleh batasan tertentu, metode program linier sering digunakan (taylor, 2005). adapun metode ini menurut render, stair, dan hanna (2012:270): “linear programming is a technique that helps in resource allocation decisions.” hal ini berarti bahwa program linier adalah teknik yang membantu dalam keputusan-keputusan pengalokasian sumber daya. salah satu permasalahan yang paling sering terjadi dalam program linier adalah permasalahan kombinasi produk dimana program linier digunakan untuk memutuskan berapa banyak yang harus diproduksi untuk masing-masing produk di tengah keterbatasan-keterbatasan sumber daya yang dimiliki. metode untuk mengetahui hasil peramalan permintaan digunakan software qm for windows 2. metode perhitungan peramalan yang digunakan terdiri dari naive method, moving average, weighted moving average, exponential smoothing, exponential smoothing with trend, dan linear regression. sekalipun belum ada metode yang dapat meramalkan secara akurat, tujuan digunakan beberapa metode tersebut untuk memperoleh perbandingan ukuran akurasi hasil peramalan yang dapat dilihat dari mean absolute deviation (mad), yang menurut heizer dan render (2009) “merupakan ukuran pertama kesalahan peramalan keseluruhan untuk sebuah model”. penelitian ini menggunakan data historis jumlah penjualan periode januari 2011 hingga november 2013 dari masing-masing produk untuk melakukan forecasting pada periode maret 2014. berikut ini adalah formulasi model yang digunakan dalam metode linear programming: variabel keputusan: a. jumlah jacket = x1 b. jumlah dress = x2 c. jumlah blouse = x3 d. jumlah kebaya = x4 e. jumlah kaftan = x5 f. jumlah skirt = x6 g. jumlah pants = x7 h. jumlah shawl = x8 4                           journal the winners, vol. 15 no. 1, maret 2014: 1-7  fungsi tujuan: maksimisasi z = 4.000.000x1 + 4.400.000x2 + 3.250.000x3 + 3.300.000x4 + 3.600.000x5 + 1.575.000x6 + 1.575.000x7 + 3.500.000x8 fungsi kendala: a. waktu : 14x1 + 23x2 + 21,5x3 + 14x4 + 21,5x5 + 8x6 + 8x7 + 16x8 < 24.960 b. kain jenis i : 5x2 + 3x3 + 2,5x4 + 3x5 + 2,75x6 + 1,5x7 + 2,25x8 < 2.500 c. kain jenis ii : 1,75x1 < 250 d. benang : 3x1 + 3x2 + 3x3 + 3x4 + 3x5 + 3x6 + 3x7 + 3x8 < 1.200 e. benang bordir : 2x1 + 3x2 + x3 + x4 + x5 + 0,5x6 + 0,5x7 + x8 < 400 f. lapisan dalam : 1,5x1 + 2,5x2 + 2,5x3 + 2,5x5 + x6 + 1,5x7 < 575 g. kain keras : 2,5x1 + x6 + x7 < 150 h. manik-manik : 90x1 + 90x2 + 90x3 + 100x4 + 100x5 + 40x6 + 40x7 + 120x8 < 35.000 i. retsleting : x2 + x6 + x7 + x8 < 150 j. kancing : 7x1 + 27x2 + 7x3 + 7x4 + 9x5 + x6 + x7 < 3.000 k. jacket : x1 < 17 l. dress : x2 < 247 m. blouse : x3 < 78 n. kebaya : x4 < 42 o. kaftan : x5 < 12 p. skirt : x6 < 15 q. pants : x7 < 17 r. shawl : x8 < 4 hasil dan pembahasan tabel 1 – tabel 8 menunjukkan perbandingan peramalan produk di pt astakarya busanaprima menggunakan naive method, moving average, weighted moving average, exponential smoothing, exponential smoothing with trend, dan linear regression. tabel 1 tabel perbandingan hasil peramalan jacket metode forecast mad mse naive method 15 7,1176 106,1765 moving average (dengan n = 3) 16,6667 7,1563 86,1146 weighted moving average (0,5; 0,3; 0,2) 15,3 7,0031 83,2828 exponential smoothing (α = 0,2) 16,7136 6,929 74,5397 exponential smoothing with trend (α = 0,3 dan β = 0,4) 14,8251 8,2155 106,4824 linear regression (y = 13,86555 + 0,0773x) 16,6487 6,0686 64,9528 sumber: peneliti (2013) tabel 2 tabel perbandingan hasil peramalan dress metode forecast mad mse naive method 197 94,8529 16.303,85 moving average (dengan n = 3) 175,6667 90,6146 13.610,84 weighted moving average (0,5; 0,3; 0,2) 178,7 88,8563 13.189,06 exponential smoothing (α = 0,2) 216,2291 79,0205 11.947,96 exponential smoothing with trend (α = 0,3 dan β = 0,4) 199,6136 105,5443 17.030 linear regression (y = 198,995 + 1,2289x) 243,2336 70,0194 9.824,359 sumber: peneliti (2013)     model optimasi penentuan..... (marcella marsetiani)     5  tabel 3 tabel perbandingan hasil peramalan blouse metode forecast mad mse naive method 50 64,4706 9.055,823 moving average (dengan n = 3) 94,3333 59,4896 6.169,982 weighted moving average (0,2; 0,3; 0,5) 88,9 59,7906 6.432,901 exponential smoothing (α = 0,2) 107,0753 53,1137 5.611,461 exponential smoothing with trend (α = 0,3 dan β = 0,4) 87,1676 67,3178 7.008,067 linear regression (y = 222,8824 3,73x) 88,6034 43,1323 4.373,496 sumber: peneliti (2013) tabel 4 tabel perbandingan hasil peramalan kebaya metode forecast mad mse naive method 21 25,1765 1.071,588 moving average (dengan n = 3) 28,3333 27,4167 1.138,722 weighted moving average (0,5; 0,3; 0,2) 27,3 25,8375 1.038,253 exponential smoothing (α = 0,2) 42,0678 25,7616 1.076,713 exponential smoothing with trend (α = 0,3 dan β = 0,4) 27,0736 33,0039 1.546,76 linear regression (y = 72,2521 0,7854x) 43,9765 23,4681 878,7197 sumber: peneliti (2013) tabel 5 tabel perbandingan hasil peramalan kaftan metode forecast mad mse naive method 4 14,0588 810,7059 moving average (dengan n=3) 12,6667 16,1458 701,2016 weighted moving average(0,5; 0,3; 0,2) 10,5 15,5313 682,0031 exponential smoothing (α = 0,2) 16,1161 13,7891 568,9147 exponential smoothing with trend (α = 0,3 dan β = 0,4) 19,2285 19,2461 787,4888 linear regression (y = 18,4958 0,1768x) 12,1328 12,0542 489,2574 sumber: peneliti (2013)   tabel 6 tabel perbandingan hasil peramalan skirt metode forecast mad mse naive method 7 5,7941 57,8529 moving average (dengan n=3) 8 5,6771 47,4271 weighted moving average (0,5; 0,3; 0,2) 7,9 5,5719 46,6066 exponential smoothing (α = 0,2) 11,5209 5,1747 37,3677 exponential smoothing with trend (α = 0,3 dan β = 0,4) 7,9761 5,6486 47,6082 linear regression (y = 9,739495 + 0,1319x) 14,4891 4,6429 31,4687 sumber: peneliti (2013) tabel 7 tabel perbandingan hasil peramalan pants metode forecast mad mse naive method 16 12,5 622,147 moving average (dengan n=3) 18,3333 13,3438 489,6562 weighted moving average (0,5; 0,3; 0,2) 18,4 13,1969 493,569 exponential smoothing (α = 0,2) 21,0851 11,6096 401,4722 exponential smoothing with trend (α = 0,3 dan β = 0,4) 21,9515 15,6916 556,923 linear regression (y = 32,92437 0,4244x) 17,6471 10,468 333,435 sumber: peneliti (2013) 6                           journal the winners, vol. 15 no. 1, maret 2014: 1-7  tabel 8 tabel perbandingan hasil peramalan shawl metode forecast mad mse naive method 3 5,9412 79,5294 moving average (dengan n=3) 3 5,9583 70,8333 weighted moving average (0,5; 0,3; 0,2) 3,1 5,5875 65,6519 exponential smoothing (α = 0,2) 5,057 5,3432 63,1013 exponential smoothing with trend (α = 0,3 dan β = 0,4) 5,4667 7,1395 86,3518 linear regression (y = 9,043697 0,1532x) 3,5277 4,9895 50,2095 sumber: peneliti (2013) berdasarkan hasil peramalan, diketahui bahwa metode linear regression merupakan yang terbaik dikarenakan memiliki angka mad yang terkecil. dengan demikian, persamaan regresi dapat digunakan untuk meramalkan jumlah penjualan tiap produk pada periode maret 2014, sebagai berikut. tabel 9 hasil peramalan jumlah penjualan periode maret 2014 produk persamaan regresi forecast (x = 39) jacket y = 13,86555 + 0,0773x 16,88025 dibulatkan menjadi 17 unit dress y = 198,995 + 1,2289x 246,9221 dibulatkan menjadi 247 unit blouse y = 222,8824 3,73x 77,4124 dibulatkan menjadi 78 unit kebaya y = 72,2521 0,7854x 41,6215 dibulatkan menjadi 42 unit kaftan y = 18,4958 0,1768x 11,6006 dibulatkan menjadi 12 unit skirt y = 9,739495 + 0,1319x 14,883595 dibulatkan menjadi 15 unit pants y = 32,92437 0,4244x 16,37277 dibulatkan menjadi 17 unit shawl y = 9,043697 0,1532x 3,068897 dibulatkan menjadi 4 unit sumber: peneliti (2013) hasil pengolahan data menggunakan software qm for windows 2 menunjukkan bahwa solusi dalam memberikan kombinasi produk yang tepat yang seharusnya diproduksi pt astakarya busanaprima pada periode maret 2014 adalah 17 unit jacket, 70,4074 unit dress, 78 unit blouse, 42 unit kebaya, 12 unit kaftan, 15 unit skirt, 17 unit pants, dan 4 unit shawl dengan pendapatan maksimum sebesar rp877.492.589,14. tabel 10 menjelaskan secara lebih rinci. tabel 10 tabel pendapatan produk jumlah harga pendapatan jacket 17 unit rp 4,000,000.00 rp 68,000,000.00 dress 70,4074 70 unit dan 0,4074 merupakan work-in-process rp 4,400,000.00 rp 308,000,000.00 blouse 78 unit rp 3,250,000.00 rp 253,500,000.00 kebaya 42 unit rp 3,300,000.00 rp 138,600,000.00 kaftan 12 unit rp 3,600,000.00 rp 43,200,000.00 skirt 15 unit rp 1,575,000.00 rp 23,625,000.00 pants 17 unit rp 1,575,000.00 rp 26,775,000.00 shawl 4 unit rp 3,500,000.00 rp 14,000,000.00 total rp 875,700,000.00 sumber: peneliti (2013) terjadinya perbedaan perhitungan total pendapatan maksimum pada periode maret 2014 disebabkan perbedaan dalam pembulatan angka. jadi, nilai 70,4074 unit yang dianggap akan dijual adalah 70 unit. sisanya 0,5926 masih dalam tahap pengerjaan (work-in-process) yang belum selesai pada periode maret 2014, sehingga pada periode maret 2014 sebaiknya pt astakarya busanaprima memproduksi 17 unit jacket, 70 unit dress, 78 unit blouse, 42 unit kebaya, 12 unit kaftan, 15 unit     model optimasi penentuan..... (marcella marsetiani)     7  skirt, 17 unit pants, dan 4 unit shawl untuk dapat memaksimalkan pendapatan sebesar rp875.700.000,00. dalam output ranging, didapatkan bahwa masih terdapat slack atau surplus yang menggambarkan sisa dari penggunaan input (sumber daya) dalam proses produksi, yakni pada penggunaan waktu kerja, kain jenis 1, kain jenis 2, benang, benang bordir, lapisan dalam, kain keras, manik-manik, dan retsleting serta pemenuhan permintaan dress. sedangkan input (sumber daya) yang telah digunakan dengan optimal adalah penggunaan kancing juga pemenuhan peramalan permintaan untuk jacket, blouse, kebaya, kaftan, skirt, pants, dan shawl, yang memiliki nilai slack (surplus) sebesar 0. dengan demikian, agar pt astakarya busanaprima dapat mencapai pendapatan yang optimal serta memproduksi dengan efektif dan efisien, diharapkan dapat melakukan pemberdayaan tenaga kerja sehingga dapat memaksimalkan waktu kerja, bahan baku dan bahan pendukung dapat lebih dimanfaatkan, sehingga dapat menjalankan kegiatan produksi yang lebih baik dengan tingkat produktivitas yang tinggi dan mengalokasikan input (sumber daya) yang masih ada untuk memproduksi dress lebih banyak lagi, sehingga dapat menjawab setiap permintaan yang ada. simpulan pertama, metode peramalan yang paling optimal untuk meramalkan jumlah penjualan tiap produk bagi pt astakarya busanaprima adalah linear regression karena memiliki nilai mean absolute deviation (mad) yang terkecil dari semua metode yang digunakan dalam penelitian ini. kedua, perkiraan jumlah penjualan yang dapat diperoleh pt astakarya busanaprima pada periode maret 2014 untuk produk jacket, dress, blouse, kebaya, kaftan, skirt, pants, dan shawl secara berturutturut : 17 unit, 247 unit, 78 unit, 42 unit, 12 unit, 15 unit, 17 unit, dan 4 unit. ketiga, kombinasi produk yang tepat dan efisien yang harus diproduksi bagi pt astakarya busanaprima pada periode maret 2014 adalah 17 unit jacket, 70 unit dress, 78 unit blouse, 42 unit kebaya, 12 unit kaftan, 15 unit skirt, 17 unit pants, dan 4 unit shawl. daftar pustaka astuti, n. e. d., linawati, l., & mahatma, t. (2013). penerapan model linear goal programming untuk optimasi perencanaan produksi. prosiding seminar nasional sains dan pendidikan sains fakultas sains dan matematika uksw, 8(4), 464–471. gass, s. i., & fu, m. c. (eds.). (2013). encyclopedia of operations research and management science (3 ed.). new york: springer. heizer, j. & render, b. (2009). manajemen operasi. 9th ed, vol. 1. jakarta: salemba empat. igwe, k. c. & onyenweaku, c. e. (2013). a linear programming approach to food crops and livestock enterprises planning in aba agricultural zone of abia state, nigeria. american journal of experimental agriculture, 3(2), 412–431. render, b., stair jr., r. m., & hanna, m. e. (2012). quantitative analysis for management. 11th edition. england: pearson education. taylor iii, b. w. (2005). introduction to management science. 8th edition. new jersey: prentice hall. wignjosoebroto, s. (2003). pengantar teknik & manajemen industri. surabaya: guna widya. in pr es s *corresponding author p-issn: 1412-1212 e-issn: 2541-2388 161 the winners, 23(2), september 2022, 161-172 doi: 10.21512/tw.v23i2.8140 the role of threshold of free shipping promotion and product type on impulsive buying behaviour in e-commerce platform readdy aria yendola1*; nila armelia windasari2 1,2school of business and management, institut teknologi bandung jl. ganesa no. 10, lb. siliwangi, coblong, bandung, jawa barat 40132, indonesia 1readdy_aria@sbm-itb.ac.id; 2nila.armelia@sbm-itb.ac.id received: 29th january 2022/ revised: 27th may 2022/ accepted: 06th june 2022 how to cite: yendola, r. a. & windasari, n. a. (2022). the role of threshold of free shipping promotion and product type on impulsive buying behaviour in e-commerce platform. the winners, 23(2), 161-172. https://doi.org/10.21512/tw.v23i2.8140 abstract the research proposed new insight on how the threshold of free shipping (tfs) promotion type and product type could affect consumers to buy impulsively through emotional consumer reaction of hedonic motivation and positive affect, using the s-o-r model. the data was analyzed using 188 responses who had completed questionnaires. data was collected using the purposive sampling method with a minimum sample size of 138 from gpower calculation. the research uses anova and regression analysis to assess the model and utilizes spss. the result clearly illustrates that the maximum threshold of free shipping type with the hedonic product would lead more to consumer hedonic motivation. at the same time, the minimum threshold of free shipping type will induce too when combined with utilitarian products. furthermore, consumer feelings of hedonic motivation and positive affect play an essential role in determining consumers’ impulsive buying behavior. the research would benefit stakeholders in using and maximizing the free shipping promotion program. keywords: threshold of free shipping, hedonic shopping motivation, positive affect, impulsive buying behavior, experimental research i. introduction nowadays, e-commerce offers organizations an easier reach for customers than consumer exposure to the business, which is more achievable by reducing administrative costs, travel costs, and business process cycle times (xing, 2018). especially in the covid-19 outbreak, consumer preference toward online shopping has increased since closed brick-andmortar shops. the asia pacific dominated the market for e-commerce with a share of 55,3% in 2019 and is expected to witness the fastest growth compared to other regions from 2020 to 2027 (grand view research, 2020). e-commerce in indonesia is growing with increasing active buyers through the internet. it is forecasted to add 60 million new e-commerce users between 2020 and 2024, from almost 130 million users in 2020 to approximately 190 million users in 2024 (“number of e-commerce”, 2020). there are five most popular e-commerce in indonesia including, tokopedia, shopee, lazada, bukalapak, and olx in 2021. each e-commerce has a significant proportion of the market share in indonesia (“top sites ranking”, 2021). specifically, shopee is one of the e-commerce platforms of the latest development in the digital business, with an average of 137 million visitors in late 2021. this platform is one of the most popular pioneers in conducting free shipping promotions in indonesia. fortunately, in the competitive business environment, consumer impulse buying has become an important source of revenue for online retailers. according to amos, holmes, and keneson (2014), depending on product category, a study shows that products bought on impulse could account for 40% 80% of purchases. moreover, research suggests that the ease of searching and buying online, along with the lack of social pressures and absence of delivery efforts, could increase consumers’ tendencies to act impulsively (chan, cheung, & lee, 2017; wu et al., 2020). in the process of impulse buying, this behavior often arises from high positive emotions. according to chan, cheung, and lee (2017), consumers often experience positive emotional reactions in the process of impulse buying while reducing reactions when processing cognitive information. research on impulsive buying has attracted much research interest over the years in pr es s 162 the winners, vol. 23 no. 2 september 2022, 161-172 because of its prevalence and complexity (chan et al., 2017). however, according to amos et al. (2014), there is no clear theoretical framework explaining impulse buying as further research is still called for. furthermore, in this competitive era, understanding impulsive buying behavior is particularly important for business purposes, especially for e-commerce. this is because impulsive buying on internet shoppers is relatively more inclined than in offline retailing (wu et al., 2020). impulse buying is often defined as an unplanned purchase and taking ownership of the product— goods or services—without any deeper thinking (wu, chiu, & chen, 2020). today, marketers must know consumers' need and want because they can change easily. some studies found that several factors, including sales promotion, can trigger consumer impulsive buying behavior. some sales promotion indicators can affect impulsive buying, for instance price discount and bonus pack (xu & huang, 2014). meanwhile, dawson and kim (2010) categorizes free shipping as a promotion category. besides, iyer et al. (2020) reveal that promotion as the marketing stimuli affects impulsive buying behavior through the positive mood of consumer reaction. interestingly, free shipping in e-commerce to attract consumers' online buying decisions is important. according to saleh (2021), 9 out of 10 consumers prefer online shopping with free shipping, while the sellers reveal that the orders increased by 30% with free shipping offers. however, in general, tfs is set in e-commerce to attract and retain the consumer (huang, shen, & liang, 2019). more than half, or 58% of consumers, add more items to the cart to qualify for free shipping (saleh, 2021). in addition, the purchase decision in e-commerce is mostly affected by the free shipping policy. in france, almost three-fourths of shoppers note that free shipping considerably impacts purchase decisions, followed by the us, in which 72% of consumers feel the same in 2019 (koch, 2019). the characteristic of customer behavior in online marketing is different from offline marketing since they search for low-cost alternatives. hence, the issue of customer behavior in online shopping is more difficult than in offline one. besides, the e-commerce company must set a more attractive attribute to get and maintain their consumer. chan, cheung, and lee (2017) reveal that impulse buying is one of the effective ways of selling products that can be affected by both internal and external stimuli, including promotions like free shipping, etc. therefore, offering free shipping promotions could affect consumer buying behavior in e-commerce. however, the effectiveness of threshold of free shipping (tfs) in e-commerce remains unclear. in addition, the role of hedonic motivation and positive affect could also influence impulse buying behavior through its promotion. although adequate works of literature explain the purchase buying behavior of consumers in e-commerce. however, there is only limited research examining the relationship between threshold of free shipping promotion on e-commerce impulsive buying behavior. the research aims to explore the impact of the threshold of free shipping type and product type on consumer hedonic motivation and positive affect, which then affects consumer impulsive buying behavior by adopting the s-o-r model in the e-commerce context (shopee consumer). the s-o-r model is used to see consumer reactions and responses from the threshold of free shipping type and product type stimulus in the experiment. the application of the s-o-r model in consumer behavior research has become prominent. chan, cheung and lee (2017) explain that the s-o-r framework is the popular theoretical approach to studying impulse buying behavior by examining the relationship between the environmental cue, consumer cognitive and affective reactions, and the resulting behavior. for example, the s-o-r model has been applied in research on impulse buying behavior by chen and yao (2018). the research finds that discounted price is an important precursor (stimulus) of personality factors, consisting of positive affect (organism), which in turn are the determinant of impulse buying (response) in the mobile auction. according to dawson and kim (2010), free shipping or shipping discount is one of the sales promotion tools in marketing tactics or external cues, while sales promotion was the main factor affecting online impulse shoppers. promotion is considered as marketing stimuli used by marketers to attract consumers to purchase (chan et al., 2017). thus, many retailers use this method to increase their sales and reduce inventory respectively (xu & huang, 2014). one of the common methods for sales promotion used by online retailers recently is the threshold of free shipping promotion. it is an effective way to attract consumers because, for example, consumers are generally objected to paying a delivery surcharge with an extra payment with a shipping fee. in contrast, by the threshold of free shipping promotion, consumers’ sacrifice of spending money is decreased. menon and sigurdsson (2016) show that shipping fees, price, and guarantees are the most important stimulus for the consumer in an online shopping environment. furthermore, iyer et al. (2020) show that marketing stimuli of advertising and promotion positively affect consumers’ positive moods instead of negative ones. meanwhile, in the offline environment, sales promotion becomes the factor for consumer hedonic shopping motivation (mamuaya & pandowo, 2018). however, the impact of specific marketing stimuli of the threshold of free shipping promotion have not been examined on consumer reaction of positive affect and hedonic shopping motivation particularly. although consumers’ preference to buy online is higher in the digital era, they are vulnerable to being attracted to buy impulsively. hence, the hypothesis is formulated: h1: the threshold of free shipping promotion will influence consumer hedonic motivation and positive affect. in pr es s 163the role of threshold of free .... (readdy aria yendola; nila armelia windasari) according to zhu and lin (2019), from its perspective, the product type is divided into utilitarian and hedonic. a utilitarian product stresses utility, function, and performance to assist people in achieving their objectives and completing their responsibilities. examples of utilitarian products are computers, microwave ovens, electric fans and razors, as these products are emphasized in those criteria. moreover, people can get emotional and sensory pleasure from hedonic items, emphasizing experience, pleasure, stimulation, and self-expression like fashion, cosmetics, and watches. research regarding the impact of product type on consumer hedonic motivation and positive affect is considered limited. in contrast, some research have found that the product type significantly influences referral likelihood (zhu & lin, 2019) and purchase intention (loebnitz & grunert, 2018), etc. it is expected the product type of utilitarian and hedonic to influence consumer feelings. hence, the hypothesis arises. h2: product type will influence consumer hedonic motivation and positive affect. the research also predicts the impact of the threshold of free shipping promotion on consumer reaction of hedonic motivation and positive affect depending on product type, whether the product is hedonic or utilitarian. zhao & liang (2019) reveal that the product type could affect consumer impulsive buying behavior. the research shows that low involvement product would lead to a higher impulsive response than the high involvement product. in addition, to create impulsive behavior online, the promotional offer of discount price is more effective when the product type is utilitarian, while the hedonic product is more attractive using a bonus pack (xu & huang, 2014). meanwhile, in this study, we expect that maximum tfs would be more effective for the utilitarian product while minimum tfs would be attractive for the hedonic product in gaining consumers’ good feeling. thus we propose the following hypothesis: h3a: free shipping promotion with minimum tfs will trigger a greater hedonic motivation to purchase when the product type is hedonic, whereas free shipping promotion with maximum tfs will trigger a greater hedonic motivation to purchase when the product type is utilitarian. h3b: free shipping promotion with minimum tfs will trigger a greater positive affect while purchasing when the product type is utilitarian, whereas free shipping promotion with maximum tfs will trigger a greater positive affect while purchasing when the product type is hedonic. in the shopping environment, consumers commonly purchase products or services based on their motivation, which can be divided into two: 1) utilitarian motivation and 2) hedonic motivation. the utilitarian motivation is based on the need and benefit of the product, while hedonic shopping motivation is based on pleasure. (mamuaya & pandowo, 2018). iyer et al. (2020) assert that consumers with high hedonic motivation are more likely to experience positive feelings, while consumers with utilitarian motivation feel differently. consumers with high hedonic motivation would perceive emotional gratification, reward, and compensation when buying products or services (iyer et al., 2020). according to widagdo and roz (2021), hedonic shopping motivation is a person’s urge to purchase to satisfy psychological demands such as emotion, satisfaction, prestige, and other subjective emotions. a person with this personality is more likely to seek enjoyment for himself or herself. in addition, iyer et al. (2020) state that hedonic shopping motivation is an affective gratification derived from the sensory of a product or service and leads to consumer reaction of positive affect while shopping. hence, the research suggests that consumer hedonic motivation would enhance their positive affect during the shopping trip, hence the hypothesis arises: h4: consumer hedonic motivation from e-commerce platforms significantly influences consumer positive affect while purchasing. according to mamuaya and pandowo (2018), sales promotion is external stimulation used to offer incentives to consumers. it would encourage consumers to purchase and fulfill their feelings and satisfaction. meanwhile, the hedonic value reflects the emotional feeling. prior research has proved that hedonic shopping motivation is predicted by sales promotion and store atmosphere in the offline situation, while this relates to the impulsive buying behavior of supermarket consumers in manado (mamuaya & pandowo, 2018). in addition, the affective reaction of hedonic browsing motivation mediates the effect of sales promotion and impulsive buying behavior in online retailers (kimiagari, sharifi, & malafe, 2021). furthermore, in the shopping website, park et al. (2012), lim, lee, and kim (2017), and zheng et al. (2019) find that hedonic motives have considerable effects on consumer impulse buying behavior. hence by the previous researches, the hypothesis emerges: h5: consumer hedonic motivation from e-commerce platforms significantly influences consumers’ impulsive buying behavior. positive affect refers to the extent to which a person feels enthusiastic, excited, and inspired (bellini, cardinali, & grandi, 2017; verhagen & van dolen, 2011), happiness, excitement, pride, pleasure, arousal, joy, and glee (iyer et al., 2020). conversely, negative affect is defined as the extent to which a person feels distressed, irritated, and disturbed, including anger and guilt (verhagen & van dolen, 2011). the literature has proven the positive direct impact of posiin pr es s 164 the winners, vol. 23 no. 2 september 2022, 161-172 tive mood on consumers’ impulsive buying. it is found that both positive affect and negative affect influence impulse buying behavior (amos et al., 2014), and positive affect would lead to impulsive buying more than negative affect (iyer et al., 2020). however, time pressure could reduce impulsive buying behavior, while time availability could enhance it (gogoi & shillong, 2020). in the context of mobile auction, chen and yao (2018) find that positive affect is a key determinant of impulse buying behavior. meanwhile, in the offline environment, several research fhave found the effect of positive affect toward consumers’ impulsive buying behavior during cruise trip (ahn & kwon, 2020), and supermarket shopping (bandyopadhyay et al., 2021). hence, it is suggested that the positive affect of consumer reaction to the online shopping trip would enhance consumer impulsive buying behavior, hence the hypothesis arises: h6: affective reaction of positive affect from e-commerce platform significantly influences the consumer response to impulsive buying. consumers of shopee e-commerce media is chosen since the platform is well known for its free shipping promotion. it also provides uniqueness compared to its competitor in the same field. the prompted researchers aim to investigate the role of the free shipping threshold and product type in improving consumer impulsive purchase behavior. therefore, the current research aims to explore further and find the research gap in the literature by developing conceptual models of the threshold of free shipping, product type, hedonic motivation, positive affect, and impulsive buying behavior. the adoption of the s-o-r model in the research is expected to predict consumer reaction to impulsive buying behavior through experimentation with the threshold of free shipping type and product type, and provide deeper information about this behavior for users and regulators in the e-commerce platform. the research hypothesis is depicted in figure 1. figure 1 proposed conceptual framework ii. methods the unit of analysis is the customers of the top online shop markets in indonesia based on total clicks, namely shopee (plecher, 2020). consumers of this most popular marketplace may represent significantly of the entire online marketplace in indonesia since it is the market leader and prominent for free shipping promotion program. the research used experiment technique of quantitative method for data collection. primary data are gathered directly in the form of responses from the administration of questionnaires of experimentation (mahmoud, hinson, & adika, 2018), and the secondary data comes from scientific publications such as research reports and a research journal. the research collects the data twice for pre-test and hypothesis testing using the purposive sampling method. in the pre-test for getting the threshold of free shipping promotion and particular product type, the research is required to get 30-50 respondents. meanwhile, the criteria for the selected respondent are those who have purchased in selected e-commerce minimally once in a year. furthermore, for the hypothesis testing, based on the calculation of gpower with the value of 0,05 and the effect size of 0,355 derived from the regression analysis, the research requires at least 138 samples in total or 35 responses for every scenario. the subjects are recruited from invitational email and social media broadcasts. the research is designed to examine the effect of threshold free shipping types – (minimum tfs vs. maximum tfs) and product types (hedonic vs. utilitarian) in between-subject design – on consumer hedonic motivation and positive affect and to test the nomological network among those two variables and impulsive buying behavior. data are analyzed using anova and regression analysis. to test the research model and hypothesis, four experiment scenarios with each manipulated condition are conducted. the research aims to establish how multi categorical variables of the threshold of free shipping type and product type influence consumer hedonic motivation and positive affect on consumer response to impulsive buying behavior. firstly, the research conducts a pre-test for categorizing particular products type and whether the products are utilitarian or hedonic. secondly, for determining the free shipping threshold, a second pretest is conducted to predict or determine the threshold of free shipping at maximum and minimum levels concerning the specific e-commerce depicted in further studies. thirdly, formal experiments and hypothesis testing are conducted to answer the research question. in the first pre-test, based on the previous literature, eight products are measured by its attribute and attractiveness to define product type, whether it is utilitarian or hedonic. the products are mobile phones, digital cameras, computers, usb flash disks, backpacks, stationery, chocolate, toothpaste, perfume, and watches (zhu & lin, 2019). the respondents are asked to assess the product type (hedonic or utilitarian) and attractiveness on a six-point scale based on their true feelings. the product with a score higher than four is regarded as a hedonic product, while the utilitarian product is categorized with a score of less than three (zhu & lin, 2019). this pilot is delivered to roughly 30 50 respondents. in pr es s 165the role of threshold of free .... (readdy aria yendola; nila armelia windasari) the second pre-test is conducted to measure the threshold of free shipping (tfs) level. it is the amount that consumers need to spend to obtain free shipping. online retailers frequently have difficulty determining what the minimum level should be when it comes to tfs policies. therefore, the pre-test is conducted to gain the appropriate amount perceived by the consumer based on their experience in online shopping. the research proposes at roughly 30-50 respondents through the online panel, via social media and email, asking their preference of free shipping amount to determine the minimum and maximum free shipping threshold for e-commerce based on total product purchased (rupiah based) for the requirement. in the formal experiment, each participant is exposed to one experimental condition from four different scenarios of between-subjects full factorial design, which are two thresholds of free shipping types (minimum tfs vs. maximum tfs) and two product types (utilitarian vs. hedonic), as seen in table 1. the experiment also examines how the manipulations influence consumer hedonic motivation and positive affect while visiting the online shop. the research conducts an attention and manipulation check to examine whether subjects correctly pay attention to the scenario and recognize the product type on the web page. the further incorrect answer in the manipulation and attention check are not analyzed. furthermore, participants proceed to an online questionnaire by completing 26-item for positive affect, hedonic motivation, and impulsive buying (see table 2). the questionnaire indicators of each variable are adopted from previous literature that had proven its validity and reliability. the measurement of the constructs is based on seven-point likert scales ranging from 1 (very unlikely/very disagree) to 7 (very likely/very agree). table 1 experimental condition no product type threshold free shipping type 1 utilitarian minimum tfs 2 utilitarian maximum tfs 3 hedonic minimum tfs 4 hedonic maximum tfs the data are analyzed using ibm spss statistics 22.0 (ibm corporation, armonk, ny, usa). subjects’ general characteristics and dependent variables are analyzed using descriptive statistics. furthermore, confirmatory factor analysis (cfa) is conducted by confirming its convergent and discriminant validity and composite reliability to develop and help validate the measurement of the construct, as this method is generally used for social science (jian, yin, & awang, 2020). data from the field study is used to perform the cfa procedure. the research then analyzes the effect of the threshold of free shipping promotion type and product type on hedonic motivation and positive affect by using analysis of variance (anova) with repeated measures. finally, a regression analysis is conducted to examine the relationship between hedonic motivation, positive affect, and impulsive buying behavior. table 2 measurement scale variable codes statements hedonic motivation (park et al., 2012; salimon, bin yusoff, & mohd mokhtar, 2017) hm1 when i saw this exciting free shipping promotion, i was excited to find items in this online shop. hm2 when i see this awesome free shipping promotion, i can forget of time. hm3 when i saw this exciting promotion for free shipping, i enjoyed visiting this online shop even more. hm4 when i saw this exciting free shipping promotion, i felt calmer and didn’t hesitate to shop at this online shop. hm5 when i saw this exciting free shipping promotion, i had a lot of fun using this online store application. hm6 the features of the online shop application are very entertaining. hm7 my mind is always aroused when using online store applications. hm8 i browse items on the internet just for fun. hm9 free shipping promotions often stimulate my curiosity on online store applications. positive affect (iyer et al., 2020; park et al., 2019) pa1 while shopping at this online shop, i feel happy on this trip. pa2 while shopping at this online shop, i feel happy with the promotions offered. pa3 while shopping at this online shop, i feel enthusiastic about the promotions offered. pa4 while shopping at this online shop, i feel happy with the promotions offered. in pr es s 166 the winners, vol. 23 no. 2 september 2022, 161-172 iii. results and discussions in the first pre-test, 46 people participate in the survey to categorize product types. the result showed that camera, perfume, watches and chocolate were regarded as hedonic products while toothpaste, handphone, computers, stationery, flash disk, and toothpaste were utilitarian products. finally, pre-test 1 selects chocolate as a hedonic product (mean = 4,73, standard deviation = 1,62 ) and flashdisk as a utilitarian product (mean = 2,39, standard deviation = 1,43). a t-test, conducted in the research to measure its differentiation, shows significant difference in attractiveness between them (mchocolate = 4,73, mflashdisk = 2,39, t = -7,339, df = 90, p < 0,05). the second pre-test is conducted to determine the free shipping threshold amounts. the total respondent in this pre-test is 46 people. they are asked specifically about their preference for appropriate free shipping threshold in minimum and maximum limits. the mean value from their answer is used to determine the minimum and maximum thresholds for free shipping promotion in shopee. the pre-study resulted that the mean for minimum tfs is rp 25.000 (from rp 23.696) with a free shipping discount of rp 15.000 (from rp 15.109). meanwhile, the mean for maximum tfs is rp 100.000 (from rp 99.348) with the free shipping discount of rp 25.000 (from rp 25.870). the result from the pre-tests is used to manipulate the formal experiment to test the hypothesis. in the formal experimentation, 188 data from 220 responses can be used in the collection data process for the next analysis. table 3 shows the demographic information of the participants. each participant is presented with one condition of scenario that includes the description of product type and threshold of free shipping type with a brief image before proceeding to the questionnaire. the research designs each scenario differently in terms of product type and threshold free shipping type as the research conducts four different scenarios in the experimentation. table 4 describes the summary statistics of the experimental design for each scenario. hypothesis testing begins by conducting confirmatory factor analysis (cfa) to measure three dependent variables with 26 items adopted from previous studies. initially, the cfa test result indicates some items with factor loading < 0,5 that has to be removed, including; (hm2, hm8, hm6, hm7, hm9, pa2, pa3, pa9, ibb4 and ibb8). afterward, the result of the cfa test confirms that the items are grouped into three factors with four items for hedonic motivation and six items for each other variable (table 5 & table 6). the test results show that all construct has high degree of reliability and validity (all factor loading > 0,5; cronbach’s alpha > 0,800; composite reliability (cr) > 0,70; and average variance extracted (ave) > 0,50). the research continues to analyze the effect of product type and tfs type on hedonic motivation and positive affect (see table 7). the anova test was carried out and found that tfs type did not have a direct impact on both positive affect (f = 0,395, p > 0,05) and hedonic motivation (f = 0,097, p > 0,05); hence the h1 is rejected. meanwhile, the finding contradicts with previous studies (iyer et al., 2020; mamuaya & pandowo, 2018) explaining the effect of sales promotion on consumer hedonic motives and positive feelings. this is because mamuaya and pandowo (2018) conduct their research in the offline environment, which does not require free shipping in the transaction, while free shipping in the research is necessary for online transactions. the specific tfs promotion did not directly impact positive variable codes statements pa5 while shopping at this online shop, i feel happy visiting this online shop. pa6 while shopping at this online shop, i feel comfortable. pa7 while shopping at this online shop, i feel at peace. pa8 while shopping at this online shop, i feel full of promotional surprises. pa9 while shopping at this online shop, i feel proud to shop at this online shop. impulsive buying behavior (lim et al., 2017; verhagen & van dolen, 2011) ib1 when i use mobile e-commerce, i buy things that i had not intended to purchase. ib2 i can’t resist buying merchandise if i really like it. ib3 if i see a free shipping promotion, i tend to buy impulsively. ib4 i buy things according to how i feel at the moment. ib5 i spent more money to buy the merchandise than i expected. ib6 i tend to buy things in online shops unconsciously. ib7 it’s okay to buy goods at the online shop even if it doesn’t go according to plan when there is this promotion. ib8 i do not hesitate to shop at this online shop. table 2 measurement scale (continued) in pr es s 167the role of threshold of free .... (readdy aria yendola; nila armelia windasari) table 3 demographic information of respondents category classification number (n=188) percentation gender male 95 50,5% female 93 49,5% age 16-25 157 83,5% 26-35 27 14,4% 36-45 3 1,6% 46-55 1 0,5% education middle school 9 4,8% high school 88 46,8% bachelor 89 47,3% master/ doctor 2 1,1% shopping frequency not every month 54 28,7% 1-2 times 82 43,6% > 3 times 52 27,7% free shipping familiarity no. familiar <3 11 5,9% neutral 3 4 2,1% familiar4-5 53 28,2% very familiar 6 120 63,8% total 188 100% table 4 summary statistics of experimental design product type tfs type hm mean pa mean utiliarian product (flashdisk) minimum tfs (25k/15k) 4,901 4,968 maximum tfs (100k/25k) 5,440 5,126 hedonic product (chocolate) minimum tfs (25k/15k) 5,239 5,264 maximum tfs (100k/25k) 4,807 4,895 table 5 summary statistics of factor analysis and reliability construct items factor loading cronbach’s alpha composite reliability (cr) average variance extracted (ave) eigenvalue hedonic motivation hm1 0,708 0,858 0,813 0,524 8,370 hm3 0,808 hm4 0,762 hm5 0,603 positive affect pa2 0,717 0,931 0,907 0,622 2,173 pa4 0,761 pa5 0,797 pa6 0,817 pa7 0,855 pa8 0,78 impulsive buying behavior y1 0,791 0,907 0,902 0,608 1,094 y2 0,866 y3 0,645 y5 0,799 y6 0,826 y7 0,735 in pr es s 168 the winners, vol. 23 no. 2 september 2022, 161-172 consumer feelings because, by tfs promotion, the online consumers need to reach minimum purchasing requirements and wait for the delivery process, which decreases their good feelings. table 6 correlation matrix mean sd 1 2 3 hm 5,0918 1,199 1 pa 5,0612 1,147 0,710** 1 ibb 4,2456 1,497 0,564** 0,521** 1 in addition, the product type do not show a direct impact on both consumer hedonic motivation (f = 0,732, p > 0,05) and positive affect (f= 0,037, p > 0,05) confirming the rejection of h2. this is not similar to our expectation to influence consumers’ reactions, which is based on the finding by loebnitz and grunert (2018), and zhu and lin (2019), although proving the impact of product type on referral likelihood and purchase intention. it means that online consumers are not so motivated to shop online and feel happy based on the types of products offered at the online shop because they may already have plans to purchase these types of goods in advance. however, the research finds a significant interaction effect of the product type and tfs type simultaneously on consumer hedonic motivation (f = 7,939, p < 0,01), confirming that the effect of tfs is related to product type. for minimum tfs, the result indicates that consumers would perceive greater hedonic motivation when they buy hedonic products. meanwhile, the maximum tfs would induce greater consumer hedonic motivation when combined with the utilitarian product, as shown in figure 2, thus h3a is supported. the result turns out to be quite similar to findings by mamuaya and pandowo (2018), pointing out the impact of sales promotion on consumer hedonic motivation, which then affects impulsive buying, despite the offline environment. moreover, dawson and kim (2010) specifically find the impact of free shipping promotions on impulse buying. it provides vital information regarding the importance of carefully selecting a threshold for free shipping promotions across various product types to maximize the synergy impact between them. contrary to the expectation, the result does not indicate the effect between tfs type and product type on positive affect (f = 2,473, p > 0,05), therefore the h3b is rejected. table 7 test of between-subject effect source dv ss df ms f sig. tfs type hm 0,135 1 0,135 0,097 0,756 pa 0,521 1 0,521 0,395 0,530 product type hm 1,021 1 1,021 0,732 0,393 pa 0,049 1 0,049 0,037 0,847 tfs type * product type hm 11,074 1 11,074 7,939 0,005*** pa 3,258 1 3,258 2,473 0,118 note: *p<0,1; **p<0,05; ***p<0,01 figure 2 interaction effect between product type and tfs type on hedonic motivation in pr es s 169the role of threshold of free .... (readdy aria yendola; nila armelia windasari) regression analysis is conducted to examine the relationship between several variables of hedonic motivation, positive affect and impulsive buying behavior. the result showed that hedonic motivation would influence consumer positive affect (β = 0,710, p < 0,01), accepting the h4. the finding strengthens the research by verhagen and van dolen (2011) and iyer et al. (2020), explaining that customers with stronger hedonic motives are more likely to experience positive feelings. it proves that hedonic motivation increases the comfort of online consumers when shopping. in addition, consumer hedonic motivation directly impacts impulsive buying behavior (β = 0,391, p < 0,01) as h5 is accepted. the finding is similar to previous studies, which find the direct impact of hedonic motivation on consumer impulsive buying (chan et al., 2017; kimiagari et al., 2021; park et al., 2012) and the urge to buy impulsively (zheng et al., 2019). it means that impulsive buying behavior is directly influenced by consumer hedonic motivation. therefore, the research believes that consumers with hedonic motivation will be more inclined to shop impulsively at online shops. moreover, the analysis indicates the impact of positive affect on impulsive buying behavior (β = 0,243, p < 0,01), confirming the acceptance of h6, and the finding is similar to some previous research (amos et al., 2014; chen & yao, 2018; verhagen & van dolen, 2011). it is believed that when online consumers feel comfortable during shopping online, they will also be more inclined to shop impulsively. besides, the experimental results in the research apply to all genders since the samples are evenly distributed between men and women. meanwhile, the age of online consumers in the experiment is dominated by young people who tend to be influenced by promotions to get the best price. iv. conclusions although nowadays the free shipping promotion on e-commerce has become a trend in online competitions program to compel more consumers as they use to offer threshold of free shipping, the research on how consumers react to free shipping threshold toward online impulsive buying behavior is still limited. most studies tested the effect of the free shipping threshold toward other variables like a willingness to pay for shipping (huang et al., 2019) and intention to shop (huang & cheng, 2015). the research aims to fill this gap by identifying the significant impact of the free shipping promotion threshold on consumer impulsive buying behavior in online shopping. the research tests how free shipping threshold and product type influence consumer feeling of hedonic motivation and positive affect, enhancing consumer reaction to buy impulsively. the research finds that consumer impulsive buying behavior in the online shop can be induced by certain free shipping thresholds and product types. in conclusion, the experiment results confirm the suggested model in consumer impulsive purchase behavior. the research finds how to increase consumer hedonic motivation and their perception of positive affect while purchasing and, in turn, induce consumer reaction of buying impulsively through interesting threshold of free shipping type and product type. the research explains that the threshold of free shipping could induce consumer hedonic motivation only when combined with the product type, whether utilitarian or hedonic, affecting consumer positive affect and impulsive buying behavior. interestingly, hedonic motivation has the greatest impact on impulsive purchasing behavior, highlighting the necessity of combining the threshold of free shipping promotion and product type. hence, integrating other sales promotions that can induce consumer hedonic motivation is necessary for creating consumer reaction to buying impulsively. some other components of promotion that can enhance consumer hedonic motivation such as discounts, rebates, and bundling (xu & huang, 2014) are recommended to be tested in future research. sales promotions are among the most powerful methods for triggering impulse purchases for online buyers (dawson & kim, 2010; wiranata & hananto, 2020). in addition, sales promotions, according to xu and huang (2014), have one of the most powerful effects on short-term consumption behavior, particularly impulse buying behavior. e-marketers must choose appropriate sales promotion strategies to trigger consumers’ responses to increase sales and profit. according to the research findings, threshold of free shipping promotion is one program that can table 8 the result of multiple regression model dv unstandardized coefficients standardized coefficients t-value sig. b std. error beta hedonic motivation positive affect 0,742 0,054 0,710 13,767 0,000*** impulsive buying behavior 0,488 0,105 0,391 4,629 0,000*** positive affect impulsive buying behavior 0,317 0,110 0,243 2,881 0,004*** note: *p<0,1; **p<0,05; ***p<0,01 in pr es s 170 the winners, vol. 23 no. 2 september 2022, 161-172 enhance consumer impulsive buying behavior when combined with a specific product type. the research finds a managerial implication that e-marketers like shopee can benefit from the research by offering a maximum free shipping threshold for utilitarian products and a minimum free shipping level for hedonic products. e-retailers can set the threshold of free shipping suitable to the product type the consumer chooses and finally induce their impulsiveness to buy through consumer positive feeling. moreover, the platform designer can benefit by displaying and giving a suitable threshold free shipping promotion according to its product type through pop up on consumers’ devices. the research has important implications for recent theories on consumer behavior. first, the research has helped broaden the theoretical scope of the s-o-r model by actually demonstrating its applicability to investigating online impulsive buying behavior in e-commerce. by examining factors impacting impulsive purchase behavior in a threshold of free shipping type and product type deal, the research has added to and verified the s-o-r framework. secondly, the research contributes to the field of hedonic motivation research, while hedonic motivation has been shown to have a significant impact on consumer impulsive buying responses (chan et al., 2017; kimiagari et al., 2021; ozen & engizek, 2014; park et al., 2012) in addition, only limited studies have looked into how the threshold of free shipping type and product type components interact to influence individuals’ perceived hedonic motivation and positive affect. the research has some limitations. firstly, the research sample consists solely of e-commerce users from a single country and specific platform (shopee), who are selected through a purposive sampling method. therefore, the results cannot be generalized to other nations and platforms due to the sampling method. they do not represent a varied group of internet buyers around the world. researchers in the future can invite people from different backgrounds and nations to represent a varied group of online customers. secondly, the research involves only quantitative research. using other approaches, such as qualitative models, could produce different outcomes. furthermore, only two organismic variables (hedonic motivation and positive affect) are explored in our suggested model to avoid any further growth of the model. the research also reduced the number of stimuli to just a few (product type and tfs type). future research could include more cognitive and affective reactions in the organism and additional stimuli. besides, it is advisable to add the consumer response variable of compulsive buying in future research (gogoi & shillong, 2020). references ahn, j. & kwon, j. 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(arlita armanto; haryadi sarjono) 27 penerapan model transportasi dan decision tree pada distribusi barang arlita armanto; haryadi sarjono management department, school of business management, binus university, jl. k. h. syahdan no. 9, palmerah, jakarta barat 11480, indonesia abstract goods distribution has a firm connection with transportation cost. transportation method used by a company will cause great impact on company’s profit. if company’s profit can be maximal, the company will be able to develop its business even greater. some problem solution steps proposed were: determining optimum criteria, developing alternative solution, developing optimum model, and practicing chosen implicative planning solution. these steps were implemented to obtain optimum goods distribution cost to gain maximum profit. this research resulted in that the distribution cost for goods implemented by current method in the company has been already optimum. then for the following development, decision tree method was used, where the results are: shipping to yogyakarta using sinar aji transportation service with minimum emv rp.2.993.342; shipping to salatiga using own car with emv rp.2.659.388; shipping to purwokerto using sinar aji transportation service with emv rp.2.563.859; shipping to cirebon using sinar aji transportaion service with emv rp.2.443.792; shipping to semarang using sinar aji transportation service with emv rp.4.203.489. as the conclusion, goods shipping method which has been implemented by the company until now is optimum so it still can be used for any following business development as well as provides an iluustrative plan for the company. keywords: transportation method, decision tree, efficiency, shipping, distribution abstrak pendistribusian barang sangat erat kaitannya dengan biaya transportasi. metode transportasi yang digunakan oleh perusahaan akan berdampak besar pada profit perusahaan tersebut. apabila profit yang diperoleh perusahaan dapat maksimal, perusahaan akan mampu mengembangkan usahanya menjadi lebih besar lagi. langkah pemecahan masalah yang dilakukan yaitu penetapan kriteria optimasi, pengembangan alternatif solusi, pengembangan model optimasi, serta melakukan rancangan implikasi solusi terpilih. langkah-langkah ini digunakan untuk mengoptimalkan biaya pengiriman barang untuk memperoleh profit yang maksimal. penelitian memperoleh hasil yaitu biaya pengiriman barang menggunakan metode yang sedang berjalan di perusahaan sudah optimal. untuk pengembangan usaha selanjutnya, digunakan metode decision tree diperoleh hasil pengiriman barang ke kota yogyakarta menggunakan jasa angkutan sinar aji dengan emv paling kecil yaitu rp.2.993.342, pengiriman barang ke kota salatiga menggunakan mobil sendiri dengan emv rp.2.659.388, pengiriman barang ke kota purwokerto menggunakan jasa angkutan sinar aji dengan emv rp.2.563.859, pengiriman barang ke kota cirebon menggunakan jasa angkutan sinar aji dengan emv rp.2.443.792, pengiriman barang ke kota semarang menggunakan jasa angkutan sinar aji dengan emv rp.4.203.489. dapat disimpulkan bahwa metode pengiriman barang yang telah dilakukan perusahaan selama ini sudah optimal sehingga dapat terus digunakan untuk pengembangan usaha selanjutnya, serta memberikan gambaran yang sebaiknya dilakukan oleh perusahaan. kata kunci: transportation method, decision tree, efisiensi, pengiriman, distribusi 28 journal the winners, vol. 13 no. 1, maret 2012: 27-39 pendahuluan persaingan antar perusahaan distribusi sangat ketat, baik dari faktor permodalan, kelengkapan jenis produk yang dijual, jaringan pelanggan yang dimiliki oleh perusahaan, harga jual, pemberian service ke pelanggan yang berupa keramahan sdm yang menerima order, kecepatan dan ketelitian proses order yang masuk, hingga pengiriman pesanan sampai ke pelanggan. memberi pelayanan yang terbaik kepada pelanggan sehingga pelanggan puas merupakan tujuan utama setiap perusahaan distribusi. sedangkan untuk mencapai tujuan tersebut perusahaan harus mempertimbangkan banyak faktor. permasalahan utama yang sedang dihadapi oleh pt. suryamas inti armindo yaitu biaya distribusi barang yang semakin mahal dikarenakan kondisi ekonomi negara yang tidak stabil serta harga bahan bakar minyak yang terus meningkat membuat biaya transportasi yang dikeluarkan oleh perusahaan juga semakin besar. perlu diperhitungkan biaya-biaya dari data di atas dimana untuk tujuan yang ingin dicapai dalam penelitian ini, yaitu: (1) untuk mengetahui biaya optimal pengiriman barang pt.suryamas inti armindo dengan menggunakan jasa angkutan paket menurut metode transportasi. (2) untuk mengetahui metode yang sebaiknya digunakan oleh pt.sinarmas inti armindo. (3) untuk mendapatkan alternatif solusi yang sebaiknya dipilih oleh pt.suryamas inti armindo dalam mengoptimalkan efisiensi biaya pengiriman barang untuk masing-maing kota tujuan melalui pendekatan decision tree. metode jenis penelitian yang digunakan adalah penelitian kuantitatif. penelitian pengujian yang digunakan adalah analisis kuantitatif bisnis. metode pengumpulan data yang dilakukan dengan studi pustaka dengan mengumpulkan data sekunder baik data yang dimiliki oleh perusahaan, jurnal atau sumber-sumber lainnya dan field research data yang diperoleh dengan hasil wawancara terhadap pemimpin perusahaan. dalam perhitungan biaya yang optimal digunakan metode transportasi dengan dibantu software qm for windows 2. dalam penggunaan software tersebut terdapat tiga metode transportasi yaitu metode northwest corner (nwc), metode least cost, dan metode vam sebagai solusi awal dan metode stepping stone dan modi sebagai solusi akhir. hasil dan pembahasan perhitungan dilakukan berdasarkan data biaya angkutan menggunakan jasa paket. adapun kapasitas setiap angkutan paket masing-masing: 9.800, 9.600, 9.400, 8.500, 7.500 kg, sedangkan permintaan dari setiap pelanggannya masing-masing: 7.898, 9.619, 4.832, 4.960, 11.091 kg (tabel 1). tabel 1 tabel biaya transportasi beserta kapasitas dan permintaan ke dari yogyakarta (rp) salatiga (rp) purwokerto (rp) cirebon (rp) semarang (rp) supply (kg) cito express 650 650 850 800 650 9.800 sinar aji 500 450 700 650 500 9.600 dakota 850 750 1.100 900 800 9.400 kobra 700 650 950 900 750 8.500 santoso 750 700 950 850 700 7.500 demand (kg) 7.898 9.619 4.832 4.960 11.091 44.800 38.400 sumber: data dari perusahaan (2010) penerapan model transportasi..... (arlita armanto; haryadi sarjono) 29 metode nwc berikut adalah perincian untuk biaya per angkutan untuk hasil metode nwc: daerah yogyakarta mendapatkan supply dari dua angkutan. masing-masing adalah supply dari cito express sebesar 6.209 kg, dan dari sinar aji sebesar 1.689 kg. biaya dari cito express adalah sebesar rp 650,-/kg sedangkan biaya dari sinar aji adalah sebesar rp 500,-/kg. maka biaya yang dibebankan untuk daerah yogyakarta adalah sebesar rp 4.880.350,-. perinciannya adalah jumlah barang dikalikan dengan biaya per kg barang [(6.209 x rp 650,-) + (1.689 x rp 500,-) = rp 4.880.350,-] daerah salatiga mendapatkan supply dari 2 angkutan. masing-masing adalah supply dari sinar aji sebesar 1.119 kg, dan dari kobra sebesar 8.500 kg. biaya dari sinar aji adalah sebesar rp 450,-/kg sedangkan biaya dari kobra adalah sebesar rp 650,-/kg. maka biaya yang dibebankan untuk daerah salatiga adalah sebesar rp 6.028.550,-. perinciannya adalah jumlah barang dikalikan dengan biaya per kg barang [(1.119 x rp 450,-) + (8.500 x rp 650,-) = rp 6.028.550,-] daerah purwokerto dikirim oleh sinar aji dengan jumlah barang yang disupply sebesar 4.832 kg dengan biaya sebesar rp 700/kg. maka jumlah biaya yang dibebankan untuk daerah purwokerto adalah sebesar rp 3.382.400,-. jumlah tersebut didapatkan dari perkalian jumlah barang dengan biaya per kg barang (4.832 x rp 700/kg = rp 3.382.400,-) daerah cirebon mendapatkan supply dari 2 angkutan. masing-masing adalah supply dari sinar aji sebesar 1.960 kg, dan dari dakota sebesar 3.000 kg. biaya dari sinar aji adalah sebesar rp 650,-/kg sedangkan biaya dari dakota adalah sebesar rp 900,-/kg. maka biaya yang dibebankan untuk daerah cirebon adalah sebesar rp 3.974.000,-. perinciannya adalah jumlah barang dikalikan dengan biaya per kg barang [(1.960 x rp 650,-) + (3.000 x rp 900,-) = rp 3.974.000,-] daerah semarang mendapatkan supply dari 2 angkutan. masing-masing adalah supply dari cito express sebesar 3.591 kg, dan dari santoso sebesar 7.500 kg. biaya dari cito express adalah sebesar rp 650,-/kg sedangkan biaya dari santoso adalah sebesar rp 700,-/kg. maka biaya yang dibebankan untuk daerah semarang adalah sebesar rp 7.584.150,-. perinciannya adalah jumlah barang dikalikan dengan biaya per kg barang [(3.591 x rp 650,-) + (7.500 x rp 700,-) = rp 7.584.150,-] untuk sisa barang dari supply yang tidak terpakai dialokasikan ke dalam dummy. dummy tersebut tidak memiliki biaya pengiriman. metode least cost berikut adalah perincian untuk biaya per angkutan untuk metode least cost: daerah yogyakarta dikirim oleh kobra dengan jumlah barang yang disupply sebesar 7.898 kg dengan biaya sebesar rp 700/kg. maka jumlah biaya yang dibebankan untuk daerah yogyakarta adalah sebesar rp 5.528.600,-. jumlah tersebut didapatkan dari perkalian jumlah barang dengan biaya per kg barang (7.898 x rp 700/kg = rp 5.528.600,-) daerah salatiga mendapatkan supply dari 2 angkutan. masing-masing adalah supply dari sinar aji sebesar 9.017 kg, dan dari kobra sebesar 602 kg. biaya dari sinar aji adalah sebesar rp 450,-/kg sedangkan biaya dari kobra adalah sebesar rp 650,-/kg. maka biaya yang dibebankan untuk daerah salatiga adalah sebesar rp 4.448.950,-. perinciannya adalah jumlah barang dikalikan dengan biaya per kg barang [(9.017 x rp 450,-) + (602 x rp 650,-) = rp 4.448.950,-] 30 journal the winners, vol. 13 no. 1, maret 2012: 27-39 daerah purwokerto mendapatkan supply dari 2 angkutan. masing-masing adalah supply dari cito express sebesar 4.249 kg, dan dari sinar aji sebesar 583 kg. biaya dari cito express adalah sebesar rp 850,-/kg sedangkan biaya dari sinar aji adalah sebesar rp 700,-/kg. maka biaya yang dibebankan untuk daerah purwokerto adalah sebesar rp 4.019.750,-. perinciannya adalah jumlah barang dikalikan dengan biaya per kg barang [(4.249 x rp 850,-) + (583 x rp 700,-) = rp 4.019.750,-] daerah cirebon mendapatkan supply dari 2 angkutan. masing-masing adalah supply dari cito express sebesar 1.960 kg, dan dari dakota sebesar 3.000 kg. biaya dari cito express adalah sebesar rp 800,-/kg sedangkan biaya dari dakota adalah sebesar rp 900,-/kg. maka biaya yang dibebankan untuk daerah cirebon adalah sebesar rp 4.268.000,-. perinciannya adalah jumlah barang dikalikan dengan biaya per kg barang [(1.960 x rp 800,-) + (3.000 x rp 900,-) = rp 4.268.000,-] daerah semarang mendapatkan supply dari 2 angkutan. masing-masing adalah supply dari cito express sebesar 3.591 kg, dan dari santoso sebesar 7.500 kg. biaya dari cito express adalah sebesar rp 650,-/kg sedangkan biaya dari santoso adalah sebesar rp 700,-/kg. maka biaya yang dibebankan untuk daerah semarang adalah sebesar rp 7.584.150,-. perinciannya adalah jumlah barang dikalikan dengan biaya per kg barang [(3.591 x rp 650,-) + (7.500 x rp 700,-) = rp 7.584.150,-] untuk sisa barang dari supply yang tidak terpakai dialokasikan ke dalam dummy. dummy tersebut tidak memiliki biaya pengiriman. metode vam berikut adalah perincian untuk biaya per angkutan untuk metode vam: daerah yogyakarta dikirim oleh kobra dengan jumlah barang yang disupply sebesar 7.898 kg dengan biaya sebesar rp 700/kg. maka jumlah biaya yang dibebankan untuk daerah yogyakarta adalah sebesar rp 5.528.600,-. jumlah tersebut didapatkan dari perkalian jumlah barang dengan biaya per kg barang (7.898 x rp 700/kg = rp 5.528.600,-) daerah salatiga mendapatkan supply dari 2 angkutan. masing-masing adalah supply dari sinar aji sebesar 9.017 kg, dan dari kobra sebesar 602 kg. biaya dari sinar aji adalah sebesar rp 450,-/kg sedangkan biaya dari kobra adalah sebesar rp 650,-/kg. maka biaya yang dibebankan untuk daerah salatiga adalah sebesar rp 4.448.950,-. perinciannya adalah jumlah barang dikalikan dengan biaya per kg barang [(9.017 x rp 450,-) + (602 x rp 650,-) = rp 4.448.950,-] daerah purwokerto mendapatkan supply dari 2 angkutan. masing-masing adalah supply dari cito express sebesar 4.249 kg, dan dari sinar aji sebesar 583 kg. biaya dari cito express adalah sebesar rp 850,-/kg sedangkan biaya dari sinar aji adalah sebesar rp 700,-/kg. maka biaya yang dibebankan untuk daerah purwokerto adalah sebesar rp 4.019.750,-. perinciannya adalah jumlah barang dikalikan dengan biaya per kg barang [(4.249 x rp 850,-) + (583 x rp 700,-) = rp 4.019.750,-] daerah cirebon mendapatkan supply dari 2 angkutan. masing-masing adalah supply dari dakota sebesar 3.000 kg, dan dari santoso sebesar 1.960 kg. biaya dari dakota adalah sebesar rp 900,-/kg sedangkan biaya dari santoso adalah sebesar rp 850,-/kg. maka biaya yang dibebankan untuk daerah cirebon adalah sebesar rp 4.366.000,-. perinciannya adalah jumlah barang dikalikan dengan biaya per kg barang [(3.000 x rp 900,-) + (1.960 x rp 850,-) = rp 4.366.000,-] daerah semarang mendapatkan supply dari 2 angkutan. masing-masing adalah supply dari cito express sebesar 5.551 kg, dan dari santoso sebesar 5.540 kg. biaya dari cito express adalah sebesar rp 650,-/kg sedangkan biaya dari santoso adalah sebesar rp 700,-/kg. maka biaya yang penerapan model transportasi..... (arlita armanto; haryadi sarjono) 31 dibebankan untuk daerah semarang adalah sebesar rp 7.486.150,-. perinciannya adalah jumlah barang dikalikan dengan biaya per kg barang [(5.551 x rp 650,-) + (5.540 x rp 700,-) = rp 7.486.150,-] untuk sisa barang dari supply yang tidak terpakai dialokasikan ke dalam dummy. dummy tersebut tidak memiliki biaya pengiriman. ketiga hasil di atas dirangkum dan dibandingkan dalam tabel 2. tabel 2 perbandingan hasil metode transportasi (dalam rupiah) nama daerah metode sedang berjalan metode nwc metode least cost metode vam yogyakarta 4.803.283 4.880.350 5.528.600 5.528.600 salatiga 3.969.236 6.028.550 4.448.950 4.448.950 purwokerto 4.585.539 3.382.400 4.019.750 4.019.750 cirebon 4.579.247 3.974.000 4.268.000 4.366.000 semarang 6.777.887 7.584.150 7.584.150 7.486.150 total 24.715.192 25.849.450 25.849.450 25.849.450 sumber: hasil pengolahan data (2010) setelah mengetahui hasil perhitungan biaya pengiriman dengan metode permodelan transportasi yang dibantu dengan software qm for windows 2, didapatkan hasil sebesar rp 25.849.450,untuk perhitungan biaya transportasi dengan model optimasi dan rp 24.715.192,untuk perhitungan biaya dengan metode yang sedang berjalan. dengan demikian biaya pengiriman barang yang dilakukan oleh perusahaan sekarang sudah optimal. setelah itu,dilanjutkan dengan decision tree model untuk menentukan metode pengiriman terbaik pada masing-masing kota tujuan (tabel 3 – 7). decision tree model tabel 3 data peluang dan nilai hasil keputusan untuk decision tree kota yogyakarta no keterangan peluang bagi kondisi alamiah nilai hasil keputusan (rp) ekonomi baik ekonomi buruk ekonomi baik ekonomi buruk untuk pengiriman dengan angkutan sendiri 1. mobil sendiri 0,7 0,3 4.803.283 (480.328) untuk pengiriman dengan jasa angkutan paket 1. cito express 0,75 0,25 5.133.700 (513.370) 2. sinar aji 0,78 0,22 3.949.000 (394.900) 3. dakota 0,77 0,23 6.713.300 (671.330) 4. kobra 0,79 0,21 5.528.600 (552.860) 5. santoso 0,71 0,29 5.923.500 (592.350) sumber: data dari perusahaan (2010) ekonomi buruk didapat dengan asumsi terjadi kenaikan biaya sebesar 10% dari harga ekonomi baik. untuk pengiriman dengan angkutan sendiri: emv (mobil sendiri) = (0,7) (rp 4.803.283) + (0,3) (rp 480.328) = rp 3.362.298 – rp 144.098 = rp 3.218.200 32 journal the winners, vol. 13 no. 1, maret 2012: 27-39 untuk pengiriman dengan jasa angkutan paket: emv (cito express) = (0,75) (rp 5.133.700) + (0,25) (rp 513.370) = rp 3.850.275 – rp 128.343 = rp 3.721.932 emv (sinar aji) = (0,78) (rp 3.949.000) + (0,22) (rp 394.900) = rp 3.080.220 – rp 86.878 = rp 2.993.342 emv (dakota) = (0,77) (rp 6.713.300) + (0,23) (rp 671.330) = rp 5.169.241 – rp 154.406 = rp 5.014.835 emv (kobra) = (0,79) (rp 5.528.600) + (0,21) (rp 552.860) = rp 4.367.594 – rp 116.100 = rp 4.251.494 emv (santoso) = (0,71) (rp 5.923.500) + (0,29) (rp 592.350) = rp 4.205.685 – rp 171.782 = rp 4.033.903 nilai emv yang digunakan dalam mengisi noda keputusan setelah noda cabang adalah: untuk angkutan sendiri menggunakan emv mobil sendiri, yaitu sebesar rp 3.218.200,-. sedangkan untuk jasa angkutan paket menggunakan emv sinar aji, yang bernilai paling rendah jika dibandingkan dengan emv cito express, emv dakota, emv kobra, dan emv santoso; yaitu dengan emv sinar aji sebesar rp 2.993.342,-. langkah terakhir dalam menentukan titik keputusan yang dapat diambil oleh perusahaan adalah dengan memilih cabang dari hasil emv terendah yang sebelumnya telah diperoleh untuk jasa angkutan paket dan angkutan sendiri. pilihan keputusan jatuh pada jasa angkutan paket sinar aji, karena memberikan nilai harapan moneter terendah (emv terendah) (gambar 1). gambar 1. diagram pohon untuk menentukan metode pengiriman terbaik kota tujuan yogyakarta (sumber: hasil pengolahan data, 2010). penerapan model transportasi..... (arlita armanto; haryadi sarjono) 33 tabel 4 data peluang dan nilai hasil keputusan untuk decision tree kota salatiga no keterangan peluang bagi kondisi alamiah nilai hasil keputusan (rp) ekonomi baik ekonomi buruk ekonomi baik ekonomi buruk untuk pengiriman dengan angkutan sendiri 1. mobil sendiri 0,7 0,3 3.969.236 (396.923) untuk pengiriman dengan jasa angkutan paket 1. cito express 0,75 0,25 6.252.350 (625.235) 2. sinar aji 0,78 0,22 4.328.550 (432.855) 3. dakota 0,77 0,23 7.214.250 (721.425) 4. kobra 0,79 0,21 6.252.350 (625.235) 5. santoso 0,71 0,29 6.733.300 (673.330) sumber: data dari perusahaan (2010) ekonomi buruk didapat dengan asumsi terjadi kenaikan biaya sebesar 10% dari harga ekonomi baik. untuk pengiriman dengan angkutan sendiri: emv (mobil sendiri) = (0,7) (rp 3.969.236) + (0,3) (rp 396.923) = rp 2.778.465 – rp 119.077 = rp 2.659.388 untuk pengiriman dengan jasa angkutan paket: emv (cito express) = (0,75) (rp 6.252.350) + (0,25) (rp 625.235) = rp 4.689.263 – rp 156.309 = rp 4.532.954 emv (sinar aji) = (0,78) (rp 4.328.550) + (0,22) (rp 432.855) = rp 3.376.269 – rp 95.228 = rp 3.281.041 emv (dakota) = (0,77) (rp 7.214.250) + (0,23) (rp 721.425) = rp 5.554.973 – rp 165.928 = rp 5.389.045 emv (kobra) = (0,79) (rp 6.252.350) + (0,21) (rp 625.235) = rp 4.939.357 – rp 131.299 = rp 4.808.058 emv (santoso) = (0,71) (rp 6.733.300) + (0,29) (rp 673.330) = rp 4.780.643 – rp 195.266 = rp 4.585.377 nilai emv yang digunakan dalam mengisi noda keputusan setelah noda cabang adalah: untuk angkutan sendiri menggunakan emv mobil sendiri, yaitu sebesar rp 2.659.388,-. sedangkan untuk jasa angkutan paket menggunakan emv sinar aji, yang bernilai paling rendah jika dibandingkan dengan emv cito express, emv dakota, emv kobra, dan emv santoso; yaitu dengan emv sinar aji sebesar rp 3.281.041,-. langkah terakhir dalam menentukan titik keputusan yang dapat diambil oleh perusahaan adalah dengan memilih cabang dari hasil emv terendah yang sebelumnya telah diperoleh untuk jasa angkutan paket dan angkutan sendiri. pilihan keputusan jatuh pada angkutan mobil sendiri, karena memberikan nilai harapan moneter terendah (emv terendah) (gambar 2). 34 journal the winners, vol. 13 no. 1, maret 2012: 27-39 gambar 2. diagram pohon untuk menentukan metode pengiriman terbaik tujuan kota salatiga (sumber: hasil pengolahan data, 2010). tabel 5 data peluang dan nilai hasil keputusan untuk decision tree kota purwokerto no keterangan peluang bagi kondisi alamiah nilai hasil keputusan (rp) ekonomi baik ekonomi buruk ekonomi baik ekonomi buruk untuk pengiriman dengan angkutan sendiri 1. mobil sendiri 0,7 0,3 4.585.539 (458.554) untuk pengiriman dengan jasa angkutan paket 1. cito express 0,75 0,25 4.107.200 (410.720) 2. sinar aji 0,78 0,22 3.382.400 (338.240) 3. dakota 0,77 0,23 5.315.200 (531.520) 4. kobra 0,79 0,21 4.590.400 (459.040) 5. santoso 0,71 0,29 4.590.400 (459.040) sumber: data dari perusahaan (2010) ekonomi buruk didapat dengan asumsi terjadi kenaikan biaya sebesar 10% dari harga ekonomi baik. untuk pengiriman dengan angkutan sendiri: emv (mobil sendiri) = (0,7) (rp 4.585.539) + (0,3) (rp 458.554) = rp 3.209.877 – rp 137.566 = rp 3.072.311 untuk pengiriman dengan jasa angkutan paket: emv (cito express) = (0,75) (rp 4.107.200) + (0,25) (rp 410.720) = rp 3.080.400 – rp 102.680 = rp 2.977.720 penerapan model transportasi..... (arlita armanto; haryadi sarjono) 35 emv (sinar aji) = (0,78) (rp 3.382.400) + (0,22) (rp 338.240) = rp 2.638.272 – rp 74.413 = rp 2.563.859 emv (dakota) = (0,77) (rp 5.315.200) + (0,23) (rp 531.520) = rp 4.092.704 – rp 122.250 = rp 3.970.454 emv (kobra) = (0,79) (rp 4.590.400) + (0,21) (rp 459.040) = rp 3.626.416 – rp 96.398 = rp 3.530.018 emv (santoso) = (0,71) (rp 4.590.400) + (0,29) (rp 459.040) = rp 3.259.184 – rp 133.122 = rp 3.126.062 nilai emv yang digunakan dalam mengisi noda keputusan setelah noda cabang adalah: untuk angkutan sendiri menggunakan emv mobil sendiri, yaitu sebesar rp 3.072.311,-. sedangkan untuk jasa angkutan paket menggunakan emv sinar aji, yang bernilai paling rendah jika dibandingkan dengan emv cito express, emv dakota, emv kobra, dan emv santoso; yaitu dengan emv sinar aji sebesar rp 2.563.859,-. langkah terakhir dalam menentukan titik keputusan yang dapat diambil oleh perusahaan adalah dengan memilih cabang dari hasil emv terendah yang sebelumnya telah diperoleh untuk jasa angkutan paket dan angkutan sendiri. pilihan keputusan jatuh pada jasa angkutan sinar aji, karena memberikan nilai harapan moneter terendah (emv terendah) (gambar 3). gambar 3. diagram pohon untuk menentukan metode pengiriman terbaik tujuan kota purwokerto (sumber: hasil pengolahan data, 2010). 36 journal the winners, vol. 13 no. 1, maret 2012: 27-39 tabel 6 data peluang dan nilai hasil keputusan untuk decision tree kota cirebon no keterangan peluang bagi kondisi alamiah nilai hasil keputusan (rp) ekonomi baik ekonomi buruk ekonomi baik ekonomi buruk untuk pengiriman dengan angkutan sendiri 1. mobil sendiri 0,7 0,3 4.579.247 (457.925) untuk pengiriman dengan jasa angkutan paket 1. cito express 0,75 0,25 3.968.000 (396.800) 2. sinar aji 0,78 0,22 3.224.000 (322.400) 3. dakota 0,77 0,23 4.464.000 (446.400) 4. kobra 0,79 0,21 4.464.000 (446.400) 5. santoso 0,71 0,29 4.216.000 (421.600) sumber: data dari perusahaan (2010) ekonomi buruk didapat dengan asumsi terjadi kenaikan biaya sebesar 10% dari harga ekonomi baik. untuk pengiriman dengan angkutan sendiri: emv (mobil sendiri) = (0,7) (rp 4.579.247) + (0,3) (rp 457.925) = rp 3.205.473 – rp 137.378 = rp 3.068.095 untuk pengiriman dengan jasa angkutan paket: emv (cito express) = (0,75) (rp 3.968.000) + (0,25) (rp 396.800) = rp 2.976.000 – rp 99.200 = rp 2.876.800 emv (sinar aji) = (0,78) (rp 3.224.000) + (0,22) (rp 322.400) = rp 2.514.720 – rp 70.928 = rp 2.443.792 emv (dakota) = (0,77) (rp 4.464.000) + (0,23) (rp 446.400) = rp 3.437.280 – rp 102.672 = rp 3.334.608 emv (kobra) = (0,79) (rp 4.464.000) + (0,21) (rp 446.400) = rp 3.526.560 – rp 93.744 = rp 3.432.816 emv (santoso) = (0,71) (rp 4.216.000) + (0,29) (rp 421.600) = rp 2.993.360 – rp 122.264 = rp 2.871.096 nilai emv yang digunakan dalam mengisi noda keputusan setelah noda cabang adalah: untuk angkutan sendiri menggunakan emv mobil sendiri, yaitu sebesar rp 3.068.095,-. sedangkan untuk jasa angkutan paket menggunakan emv sinar aji, yang bernilai paling rendah jika dibandingkan dengan emv cito express, emv dakota, emv kobra, dan emv santoso; yaitu dengan emv sinar aji sebesar rp 2.443.792,-. langkah terakhir dalam menentukan titik keputusan yang dapat diambil oleh perusahaan adalah dengan memilih cabang dari hasil emv terendah yang sebelumnya telah diperoleh untuk jasa angkutan paket dan angkutan sendiri. pilihan keputusan jatuh pada jasa angkutan sinar aji, karena memberikan nilai harapan moneter terendah (emv terendah) (gambar 4). penerapan model transportasi..... (arlita armanto; haryadi sarjono) 37 gambar 4. diagram pohon untuk menentukan metode pengiriman terbaik tujuan kota cirebon (sumber: hasil pengolahan data, 2010). tabel 7 data peluang dan nilai hasil keputusan untuk decision tree kota semarang no keterangan peluang bagi kondisi alamiah nilai hasil keputusan (rp) ekonomi baik ekonomi buruk ekonomi baik ekonomi buruk untuk pengiriman dengan angkutan sendiri 1. mobil sendiri 0,7 0,3 6.777.887 (677.789) untuk pengiriman dengan jasa angkutan paket 1. cito express 0,75 0,25 7.209.150 (720.915) 2. sinar aji 0,78 0,22 5.545.500 (554.550) 3. dakota 0,77 0,23 8.872.800 (887.280) 4. kobra 0,79 0,21 8.318.250 (831.825) 5. santoso 0,71 0,29 7.763.700 (776.370) sumber: data dari perusahaan (2010) ekonomi buruk didapat dengan asumsi terjadi kenaikan biaya sebesar 10% dari harga ekonomi baik. untuk pengiriman dengan angkutan sendiri: emv (mobil sendiri) = (0,7) (rp 6.777.887) + (0,3) (rp 677.789) = rp 4.744.521 – rp 203.337 = rp 4.541.184 untuk pengiriman dengan jasa angkutan paket: emv (cito express) = (0,75) (rp 7.209.150) + (0,25) (rp 720.915) = rp 5.406.863 – rp 180.229 = rp 5.226.634 38 journal the winners, vol. 13 no. 1, maret 2012: 27-39 (sinar aji) = (0,78) (rp 5.545.500) + (0,22) (rp 554.550) = rp 4.325.490 – rp 122.001 = rp 4.203.489 emv (dakota) = (0,77) (rp 8.872.800) + (0,23) (rp 887.280) = rp 6.832.056 – rp 204.074 = rp 6.627.982 emv (kobra) = (0,79) (rp 8.318.250) + (0,21) (rp 831.825) = rp 6.571.418 – rp 174.683 = rp 6.396.735 emv (santoso) = (0,71) (rp 7.763.700) + (0,29) (rp 776.370) = rp 5.512.227 – rp 225.147 = rp 5.287.080 nilai emv yang digunakan dalam mengisi noda keputusan setelah noda cabang adalah: untuk angkutan sendiri menggunakan emv mobil sendiri, yaitu sebesar rp 4.541.184,-. sedangkan untuk jasa angkutan paket menggunakan emv sinar aji, yang bernilai paling rendah jika dibandingkan dengan emv cito express, emv dakota, emv kobra, dan emv santoso; yaitu dengan emv sinar aji sebesar rp 4.203.489,-. langkah terakhir dalam menentukan titik keputusan yang dapat diambil oleh perusahaan adalah dengan memilih cabang dari hasil emv terendah yang sebelumnya telah diperoleh untuk jasa angkutan paket dan angkutan sendiri. pilihan keputusan jatuh pada jasa angkutan sinar aji, karena memberikan nilai harapan moneter terendah (emv terendah) (gambar 5). gambar 5. diagram pohon untuk menentukan metode pengiriman terbaik tujuan kota semarang (sumber: data hasil pengolahan, 2010). penerapan model transportasi..... (arlita armanto; haryadi sarjono) 39 penutup berdasarkan analisis dan hasil perhitungan yang telah diperoleh, dapat diambil kesimpulan terhadap pelaksanaan pengiriman barang pada pt. suryamas inti armindo sebagai berikut: (1) biaya optimal pengiriman barang pt. suryamas inti armindo dengan menggunakan jasa angkutan paket menurut metode nwc, least cost, dan vam adalah sebesar rp 25.849.450,serta biaya pengiriman dengan metode yang sedang berjalan adalah sebesar rp 24.715.192,-; (2) berdasarkan biaya pengiriman barang yang diperoleh di atas, metode pengiriman barang yang sebaiknya digunakan oleh pt. suryamas inti armindo yaitu metode yang sedang berjalan; (3) dalam mengoptimalkan efisiensi biaya pengiriman barang dengan menggunakan pendekatan decision tree, solusi yang sebaiknya dipilih oleh pt. suryamas inti armindo yaitu: untuk kota yogyakarta menggunakan jasa angkutan paket sinar aji, untuk kota salatiga menggunakan jasa angkutan mobil sendiri, untuk kota purwokerto menggunakan jasa angkutan paket sinar aji, untuk kota cirebon menggunakan jasa angkutan paket sinar aji, dan untuk kota semarang menggunakan jasa angkutan paket sinar aji. daftar pustaka heizer, jay dan render, barry. 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(2006). operations research (jilid 2). jakarta: erlangga. stoner, james a. f. (2006). manajemen (jilid i, edisi keenam). jakarta: salemba empat. *corresponding author p-issn: 1412-1212 e-issn: 2541-2388 173 the winners, 22(2), september 2021, 173-182 doi: 10.21512/tw.v22i2.7597 using social media marketing to create brand awareness, brand image, and brand loyalty on tourism sector in indonesia santi rimadias1*; nesta alvionita2; adinda putri amelia3 1,2,3management study program, faculty of economics, indonesia banking school jl kemang raya no. 35 jakarta selatan 12730, indonesia 1santi.rimadias@ibs.ac.id received: 23rd july 2021/ revised: 30th july 2021/ accepted: 02nd september 2021 how to cite: rimadias, s., alvionita, n., & amelia, a. p. (2021). using social media marketing to create brand awareness, brand image, and brand loyalty on tourism sector in indonesia. the winners, 22(2), 173-182. https://doi.org/10.21512/tw.v22i2.7597 abstract the research aimed to examine factors that formed brand awareness and brand image of the tourism sector in indonesia by using social media marketing on tiktok platform. the research applied a quantitative method to do a survey of 220 respondents who were users of the tiktok application. data collection was carried out from april to may 2021, and processed by using structural equation model partial least square (sem pls). convenience sampling was used in the research. the results show that entertainment, electronic word of mouth, and interaction positively affect consumer brand engagement. trendiness and customization do not affect consumer brand engagement. furthermore, it is found that consumer brand engagement positively affects brand loyalty, brand awareness, and brand image. the implication of the research is a reference for managers and policymakers in formulating strategies to improve the tourism sector in indonesia using the model social media marketing on tiktok. keywords: social media marketing, consumer brand engagement, brand loyalty, brand awareness, brand image i. introduction social media allows consumer behavior do a thorough activity ranging from visualizing consumer behavior after purchase without purchase and sharing information, ideas, and attitudes to make consumers aware of the existence of social media (putra & mudiantono, 2014). the tourism sector is one of the sectors affected by covid-19. data from jakarta statistics agency (badan pusat statistik/bps data record a very significant decrease in the number of tourists, both local and foreign tourists (“perkembangan pariwisata”, 2020). when compared to 2019, the total number of tourists decreased by 75,03% (unwto, 2021). the decline in tourism needs to get attention so that foreign tourists and domestic tourists can increase and become foreign exchange income of the country. therefore, a business must have ideas and innovations to conduct studies to attract the attention of consumers, be reminded of their thoughts, create a brand image, and increase positive brand loyalty by doing all the communication channels they have in brand communication to create brand value or to protect brand value (bilgin, 2018). tiktok is the second most downloaded android application worldwide. as a result of the design of the technology, and the cultural conditions surrounding it, tiktok has become the most downloaded video application, with teenagers aged 13-18 being half of the 500 million monthly users. it strategically targets user segments which video hosting websites and editing applications have not considered in the past. children born in the 2010s will have fun playing with videos (bresnick, 2019). with most people staying at home, tiktok has enjoyed phenomenal growth during the covid-19 pandemic. it reached 12 million us users in march 2020 and a total of 52,2 million users globally. the time spent on the application and website is also increasing. for example, us visitors spent an average of 8 hours on the application during march, 10,8% higher than the time spent in january 2020 (su et al., 2020). social media marketing is a marketing process done indirectly or directly to build memory, awareness, recognition, and action for businesses, products, 174 the winners, vol. 22 no. 2 september 2021, 173-182 people, brands, or other entities, whose activities are using social websites such as social networking, social bookmarking, microblogging, blogging, and content sharing. social media marketing can be explained by the approach of entertainment, interaction, trendiness, customisation, and electronic word of mouth (ewom) (mileva & fauzi dh, 2018). entertainment is the ability of an advertisement to fulfill the viewer's desire for entertainment, aesthetic pleasure, and emotional release (genadi & furkan, 2020). through entertainment, brands can built and strengthen a sense of closeness of consumers to persuade them in buying (dessart, veloutsou, & morgan-thomas, 2015). interaction is the extent to which social media platforms offer an opportunity to get information both ways. posting information that matches their target social media users can encourages discussion and improves relationships between consumers and brands (cheung, pires, & rosenberger, 2020). trendiness refers to social media providing the latest news, and hot discussion topics is also a core product search channel. consumers will feel the motivation to get trending information about a brand within social media platforms, which encourages them to keep up with the latest developments about brands by seeking knowledge of relevant trends (gallaugher & ransbotham, 2010). trendy information can help consumers attract attention, evoke positive consumer feelings, and drive loyalty intentions (liu, shin, & burns, 2021). customisation is a marketing and messaging service to make consumers personally feel satisfied, making the service customizable and easy to find information to create value for certain consumers (cheung et al., 2020). electronic word of mouth (ewom) aims for communications made by prospective users or who have used brands, products using social media. ewom will see the extent to which consumers disseminate and upload information on social media platforms. this is done to convey information about the brand by uploading content to their blog and sharing opinions with others (cheung et al., 2020). consumer brand engagement allows the relationship between customers and companies to be stronger and more meaningful (khan, rahman, & fatma, 2016). the desire to better understand customer interconnectedness with brands as the object of engagement is most typical in research (khan et al., 2016). from a multi-dimensional perspective of customer engagement, brand-customer engagement has been discussed as a multi-dimensional construction. by definition, special brand engagement includes dimensions cognitive processing, affection, and behavioral (khan et al., 2016). social media marketing, which consists of entertainment, interaction, trendiness, customisation, and ewom influence consumer brand engagement (mileva & fauzi dh, 2018). therefore, hypotheses proposed in the research and displayed in figure 1 are: h1: entertainment (ent) positively affects consumer brand engagement (cbe). h2: interaction (int) positively affects consumer brand engagement (cbe). h3: trendiness (tns) positively affects consumer brand engagement (cbe). h4: customisation (ctn) positively affects consumer brand engagement (cbe). h5: ewom positively affects consumer brand engagement (cbe). the research seeks to answer the future research submitted by previous research. the limitations of previous research focus only on one country, hong kong, and users of technology products (cheung et al., 2020). figure 1 research model source: author (2021) 175using social media marketing.... (santi rimadias, et al) the research focuses on the role of social media marketing with the use of the tiktok platform. previous research has used the social media marketing model to analyze the behavior of social media users in perceiving smartphones conducted by cheung et al. (2020). the research answers the future research proposed by previous research to target other countries with diverse cultures and different products. therefore, the research seeks to adopt the social media marketing model with tiktok application as the research object to analyze the forming factors of brand awareness and brand image of the tourism sector in indonesia. the research used a modification of the research model by adding one variable, brand loyalty, adapted from the results by fernandes and moreira (2019). ii. methods the research applies a quantitative approach to understand the characteristics of the population using sample data and methods of sem pls by using hypothesis testing on the influence between variables. data are collected by conducting a survey techniques, namely questionnaires to respondents through questions about the use of tiktok applications that are systematically compiled based on several previous studies. technically the data are collected through an online survey using google form that is distributed to respondents who are tiktok social media users over the age of 15 years. the sampling technique used is convenience sampling. through the efforts to disseminate data which are carried out then continued by using the formula hair with calculation of the entire indicator multiplied by 5 (44 x 5) so that it gets the number of 220 tiktok user respondents (hair, 2017). each research variable is measured through four indicators adopted from several relevant previous studies. as shown in table 1, the measuring instruments for entertainment, interaction, trendiness, ewom, and customisation each amount to four indicators. brand awareness, brand image, and brand loyalty each amount to four indicators. consumer brand engagement consisting of cognitive processing, affection, and behavioral each amounted to four indicators. the research uses likert scale 1-7. outer model analysis is to provide specifications between latent variables and manifest variables, or in other words how each indicator relates to latent variables (nasution et al., 2020). inner models (structural models) are used in assessing the relationship of exogenous and endogenous latent variables concerning the calculated variance (rahman et al., 2013). this determines the strength of the model descriptor by evaluating several quadratic double correlations (r2) and path coefficient values (β) (rahman et al., 2013). convergent validity is a measure of internal consistency. it is estimated to ensure that the item is assumed to measure each latent variable measuring it and not to measure other latent variables. individual validity, cronbach`s alpha, composite reliability (cr), and average variance extracted (ave) are suggested (rahman et al., 2013). the convergence of the construct can be determined by calculating the reliability of the item. discriminant validity shows the extent to which a construct differs from another. this is examined by comparing ave construction that is shared on itself and other constructions. for a valid construct discriminant, the ave shared on itself must be higher than the variant shared with another construct (rahman et al., 2013). reliability is the quality criteria of a construction. this requires a high degree of correlation among indicators of reliability construct extending to which a variable or set of variables is consistent with what is intended to be measured. the internal reliability of a construct is said to be achieved when the value of cronbach's alpha is 0,7 or higher (janadari et al., 2018). table 1 operationalization of variables variable items source entertainment [ent1] the content found on tiktok's social media seems interesting cheung et al. (2020) [ent2] great fun using tiktok social media cheung et al. (2020) [ent3] collecting information about products through social media tiktok is fun cheung et al. (2020) [ent4] it's easy to spend time using tiktok social media cheung et al. (2020) interaction [int1] easy to express my opinion through tiktok social media cheung et al. (2020) [int2] easy to express my opinion or conversation with other users via tiktok social media cheung et al. (2020) [int3] it is possible to have two-way interactions through tiktok social media cheung et al. (2020) [int4] you can share information with other users through tiktok social media cheung et al. (2020) 176 the winners, vol. 22 no. 2 september 2021, 173-182 occupation. the majority of respondents are women aged 15-25 years with student work. the outer model analysis provides a specification between latent variables and their manifest variables, variable items source trendiness [tns1] the content found on tiktok social media is the latest content cheung et al. (2020) [tns2] using social media tiktok is very trendy cheung et al. (2020) [tns3] tiktok's social media content is up to date cheung et al. (2020) [tns4] tiktok's social media use is quite fashionable seo and park (2018) customisation [ctn1] you can browse customized information on tiktok social media cheung et al. (2020) [ctn2] tiktok social media provides customized services cheung et al. (2020) [ctn3] tiktok social media provides interesting feed information that i'm interested in cheung et al. (2020) [ctn4] tiktok social media can be used anytime, anywhere interactions will come in. cheung et al. (2020) electronic word of mouth [ewom1] i want to share information about brands, products, or services from tiktok social media with my friends cheung et al. (2020) [ewom2] i want to upload content from tiktok social media on my facebook page or blog cheung et al. (2020) [ewom3] i want to share opinions about brands, goods, or services obtained from tiktok social media with my friends cheung et al. (2020) [ewom4] the information i receive through tiktok is usually trustworthy gvili and levy (2018) brand awareness [baw1] i always know tiktok cheung et al. (2020) [baw2] tiktok characteristics came to my mind quickly cheung et al. (2020) [baw3] i can quickly remember tiktok symbols or logos cheung et al. (2020) [baw4] i often remember tiktok cheung et al. (2020) brand image [bmg1] compared to other brands, tiktok products are of high quality cheung et al. (2020) [bmg2] tiktok has a rich history cheung et al. (2020) [bmg3] i can reliably predict how tiktok will perform cheung et al. (2020) [bmg4] tiktok is a leading company cheung et al. (2020) brand loyalty [bly1] i would recommend the tiktok app to friends fernandes and moreira (2019) [bly2] i am committed to the tiktok app fernandes and moreira (2019) [bly3] i won't buy another brand if the tiktok app is in the play store or app store fernandes and moreira (2019) [bly4] i am loyal to the tiktok app fernandes and moreira (2019) cognitive cbe [cog1] i think a lot about tiktok content fernandes and moreira (2019) [cog2] tiktok interests me fernandes and moreira (2019) [cog3] when i use tiktok i forget everything fernandes and moreira (2019) [cog4] my time passed when i interacted with tiktok fernandes and moreira (2019) affective cbe [aff1] tiktok inspires me fernandes and moreira (2019) [aff2] i'm proud to use the tiktok app fernandes and moreira (2019) [aff3] i use the tiktok app with total dedication fernandes and moreira (2019) [aff4] using the tiktok app makes me happy fernandes and moreira (2019) behavioral cbe [beh1] i spend a lot of time using the tiktok app fernandes and moreira (2019) [beh2] tiktok is one that i use a lot in social media fernandes and moreira (2019) [beh3] in social media i always use the tiktok app fernandes and moreira (2019) [beh4] i've always felt like using the tiktok app fernandes and moreira (2019) source: author (2021) table 1 operationalization of variables (continued) iii. results and discussions the respondents criteria includes tiktok users, respondent gender, respondent age, and respondent's 177using social media marketing.... (santi rimadias, et al) or how each indicator relates to latent variables. the outer model for reflective indicators is done by looking at convergent validity, composite reliability > 0,7 followed by average variance extracted (ave) > 0,5 and cronbach`s alpha value > 0,7 for all constructs (nasution et al., 2020). the statement can be seen in table 2. table 2 respondents’ profile demographic characteristic categories percentage gender men 33,6% women 66,4% age 15-19 41,9% 20-25 47,6% 26-30 5,2% >30 5,2% job student 79,5% officer/profesional 11,8% enterpreneur 6,6% others 0,4% source: data collection results through excel application (2021) it is followed by average variance extracted (ave) > 0,5 and cronbach’s alpha value > 0,7 for all constructs (nasution et al., 2020). the statement can be seen in table 3. table 3 outer model variable average variance extracted (ave) cronbach's alpha (ca) composite reliability (cr) aff 0,818 0,947 0,925 baw 0,855 0,946 0,915 beh 0,857 0,960 0,942 bly 0,832 0,952 0,932 bmg 0,766 0,908 0,847 cbe 0,780 0,972 0,968 cog 0,867 0,929 0,848 ctn 0,784 0,935 0,908 ent 0,818 0,947 0,924 ewom 0,780 0,934 0,906 int 0,807 0,944 0,921 tns 0,824 0,949 0,929 source: smartpls 3.0 (2021) in the outer loading, all indicators of each variable on the model have a loading factor above 0,5 which have met the convergent validity (hair, 2017). all ave values in the research show a construction value greater than 0,5, which can be seen in table 4. table 4 outer loading baw bly bmg ctn ent ewom int tns baw1 0,962 baw2 0,856 baw4 0,953 bly1 0,888 bly2 0,954 bly3 0,865 bly4 0,939 bmg1 0,903 bmg2 0,851 bmg3 0,871 ctn1 0,875 ctn2 0,933 ctn3 0,886 ctn4 0,845 ent1 0,980 ent2 0,945 ent3 0,909 ent4 0,771 ewom1 0,911 ewom2 0,864 178 the winners, vol. 22 no. 2 september 2021, 173-182 baw bly bmg ctn ent ewom int tns ewom3 0,869 ewom4 0,887 int1 0,927 int2 0,936 int3 0,898 int4 0,828 tns1 0,892 tns2 0,937 tns3 0,899 tns4 0,903 source: smartpls 3.0 (2021) table 5 fornell-larcker criterion aff baw beh bly bmg cbe cog ctn ent ewom int tns aff 0,904 baw 0,714 0,925 beh 0,886 0,701 0,926 bly 0,868 0,669 0,782 0,912 bmg 0,858 0,771 0,818 0,760 0,875 cbe 0,973 0,743 0,961 0,871 0,868 0,883 cog 0,910 0,729 0,859 0,888 0,821 0,944 0,931 ctn 0,729 0,661 0,587 0,635 0,813 0,697 0,711 0,885 ent 0,816 0,765 0,732 0,711 0,803 0,786 0,685 0,705 0,904 ewom 0,843 0,792 0,746 0,761 0,826 0,835 0,831 0,761 0,779 0,883 int 0,778 0,793 0,790 0,653 0,832 0,818 0,791 0,787 0,767 0,812 0,898 tns 0,789 0,796 0,619 0,677 0,835 0,740 0,735 0,857 0,823 0,826 0,749 0,908 source: smartpls 3.0 (2021) table 6 heterotrait and monotrait ratio (htmt) aff baw beh bly bmg cbe cog ctn ent ewom int tns aff baw 0,762 beh 0,988 0,735 bly 0,922 0,824 0,843 bmg 0,888 0,984 0,826 0,906 cbe 1,100 0,787 1,059 0,917 0,887 cog 0,971 0,830 0,890 0,944 0,905 1,096 ctn 0,662 0,828 0,646 0,594 0,825 0,625 0,520 ent 0,747 0,806 0,684 0,604 0,755 0,677 0,550 1,068 ewom 0,777 0,831 0,678 0,801 0,812 0,746 0,749 0,764 0,627 int 0,673 0,792 0,646 0,606 0,709 0,662 0,627 0,850 0,721 0,853 tns 0,741 0,990 0,685 0,759 0,892 0,705 0,647 0,971 0,946 0,845 0,795 source: smartpls 3.0 (2021) table 4 outer loading (continued) 179using social media marketing.... (santi rimadias, et al) in the results of cross, loadings can be concluded that all indicators have a coefficient of collation greater than each construct than the value of the correlation coefficient of indicators in other column construct blocks (hair, 2017). therefore, it can be concluded that the discriminant validity in the research is in accordance with the criteria that have been determined (hair, 2017). table 5 and table 6 provide the details of test results. the construct reliability test is measured by the value of cronbach's alpha and composite reliability. next for cronbach's alpha value, all constructs must be higher than 0,7 (hair, 2017). in the research, the entire value of cronbach's alpha > 0,7 (hair, 2017). it can be concluded that all indicators in the research have been consistent in measuring the construct (hair, 2017). the test of structural models or inner models by looking at the value of r-squared is a test of the goodness-fit model. the r-squared cbe value is 0,775 showing that consumer brand engagement can be explained by entertainment, interaction, trendiness, customisation, and ewom by 77,5% while the rest is explained by other factors. the r-squared brand awareness value is 0,552 revealing that brand awareness can be explained by consumer brand engagement by 55,2% while the rest is identified by other factors. the r-squared brand image value is 0,753 which reveals that brand image can be explained by consumer brand engagement by 75,3% while the rest is explained by other factors. lastly, the r-squared brand loyalty value is 0,759 which shows that brand loyalty can be explained by consumer brand engagement by 75,9% while the rest is explained by other factors. in the structural model, data analysis is conducted to look for some significant associations between exogenous variables and endogenous variables. the t-statistic value is calculated using calculate pls bootstrapping. all indicators with a t-statistic value > 1,96 (rounded in half) can be said that h0 is rejected or significant, or if the value of p-value < 0,05, which can be seen in table 7. table 7 path coefficients effects path coefficients mean standard deviation t-statistics p values result cbe => baw 0,644 0,647 0,050 12,902 0,000 accepted cbe => bly 0,796 0,796 0,030 26,339 0,000 accepted cbe => bmg 0,703 0,705 0,035 19,899 0,000 accepted ctn => cbe -0,082 -0,079 0,064 1,286 0,199 rejected ent => cbe 0,267 0,266 0,077 3,486 0,000 accepted ewom =>cbe 0,400 0,397 0,072 5,526 0,000 accepted int => cbe 0,176 0,177 0,080 2,202 0,000 accepted tns => cbe 0,099 0,101 0,069 1,447 0,149 rejected source: smartpls 3.0 (2021) figure 2 outer model source: author (2021) 180 the winners, vol. 22 no. 2 september 2021, 173-182 based on table 7 and figure 2, the result of the t-statistic value is 3,486 > 1,96 so it can be concluded that there is a positive and significant influence of entertainment on consumer brand engagement. in previous research, entertainment leads to a positive consumer experience to build consumer psychology in the brand by building consumer brand engagement. interaction has a positive impact on consumer brand engagement. the result of the t-statistic value is 2,202 > 1,96 so it can be concluded that there is a positive and significant influence of interaction towards consumer brand engagement. this is in line with the previous research that interaction is found to have positive impact by increasing customer satisfaction and being active on social media to develop further in consumer brand engagement. regarding trendiness towards consumer brand engagement, the result of the t-statistic value is 1,447 < 1,96. it can be concluded that there is a negative and insignificant influence of trendiness on consumer brand engagement. nevertheless, the result is not in line with the previous research finding that trendiness has positive influence since trendy information helps attract consumer attention, arouses positive feelings, and encourages loyalty intentions. the argument supports that trendiness can strengthen consumer emotional in contributing to strengthening consumer brand engagement. regarding the effect of customisation on consumer brand engagement, the result of the t-statistic value is 1,286 < 1,96. it is concluded that customisation has a negative and insignificant influence on consumer brand engagement. in contrast, previous research shows that customisation has positive impact as it improves consumers' cognitive understanding of brands, as well as increases brand love that can strengthen consumer brand engagement. electronic word of mouth is found to have a positive and significant influence on consumer brand engagement since the result of the t-statistic value is 5,526 > 1,96. the result is in line with the preceding research finding that electronic word of mouth on social media platforms and users help create a positive brand experience and beneficial emotions for the brand to strengthen consumer brand engagement. next, it is found that consumer brand engagement significantly and positively impacts brand loyalty since the result of the t-statistic value is 26,339 > 1,96. the result is considered in line with earlier research identifying consumer brand engagement allows customers to grow loyalty to the brand and use the current and future brands, so it influences current and future sales constantly. the research finds that consumer brand engagement has a positive and significant impact on brand awareness as the result of the t-statistic value is 12,902 > 1,96. the finding supports previous research discovering that consumer brand engagement encourages some information related to the brand among consumers, strengthens the interaction between consumers and brands by attracting their attention, and allows consumers to keep the brand in mind. lastly, regarding consumer brand engagement’s impact on brand image, the result of the t-statistic value is 19,899 > 1,96. thus it is believed that consumer brand engagement positively and significantly influences towards brand image. the finding supports the preceding research which states that consumer brand engagement can react in response to consumer content on social media to help consumers solve a problem. the emotional attachment to the brand is built through account-based management (abe) by improving the brand's strong and positive attitudes. iv. conclusions data analysis conducted using sem pls method comes up with several conclusions. first, entertainment, electronic word of mouth, and interaction positively affect consumer brand engagement. in developing the tourism sector, entertainment, electronic word of mouth, and interaction in tiktok application need to be improved for consumer brand engagement to increase. however, customisation and trendiness do not affect consumer brand engagement since tiktok focuses more on spreading entertaining information. second, consumer brand engagement is found to have positive influences towards brand awareness, brand image, and brand loyalty. in creating customer relations to develop the tourism sector in indonesia, it is necessary to keep up the efforts to increase brand awareness, brand image, and brand loyalty. the results show that consumer brand engagement (cbe) is the main factor influencing brand awareness, brand image, and brand loyalty in the tourism sector in indonesia. cbe predominantly affects brand loyalty, with a coefficient path value of 0,871. this means that cbe or good relations with tourism customers in indonesia must be improved for brand loyalty, in this case loyalty to tourism, to increase. furthermore, cbe also affects brand image and brand awareness. therefore, tourism managers should pay attention to various items on the cbe's ease of expressing opinions or conversations with other users, building two-way interactions, and sharing information with other users through tiktok platform. meanwhile, cbe is built from the social media marketing model consisting of entertainment, interaction, trendiness, customisation, and ewom. electronic word of mouth is the most dominant influencing cbe with a coefficient path value of 0,424, followed by interaction and entertainment, with coefficient path values of 0,335 and 0,262, respectively. it is advisable that tourism managers pay more attention to ewom, interaction, and entertainment in building good relationships with customers. ewom as the dominant factor influencing cbe can be built by providing information about the brand, opinion, products, or tourism services of tiktok shared with its users, and producing interesting and creative tiktok content so that users do not hesitate from tiktok 181using social media marketing.... 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(2016). the role of customer brand engagement and brand experience in online banking. international journal of bank marketing, 34(7), 1025-1041. https://doi. org/10.1108/ijbm-07-2015-0110. langaro, d., rita, p., & de fátima salgueiro, m. (2018). do social networking sites contribute for building brands? evaluating the impact of users’ participation on brand awareness and brand attitude. journal of marketing communications, 24(2), 146-168. https:// doi.org/10.1080/13527266.2015.1036100. liu, f., li, j., mizerski, d., & soh, h. (2012). self-congruity, brand attitude, and brand loyalty: a study on luxury brands. european journal of marketing, 46(7), 922937. https://doi.org/10.1108/03090561211230098. liu, x., shin, h., & burns, a. c. 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(2018). a study on the effects of social media marketing activities on brand equity and customer response in the airline industry. journal of air transport management, 66(c), 36-41. https:// doi.org/10.1016/j.jairtraman.2017.09.014. su, y., baker, b. j., doyle, j. p., & yan, m. (2020). fan engagement in 15 seconds: athletes’ relationship marketing during a pandemic via tiktok. international journal of sport communication, 13(3), 436-446. https://doi.org/10.1123/ijsc.20200238. unwto. (2021). unwto world tourism barometer. https://doi.org/10.18111/wtobarometereng. sampul 0901-0308.pmd economic, business, management, and information system journal vvvvvolume 9, nomor 1, maret 2008olume 9, nomor 1, maret 2008olume 9, nomor 1, maret 2008olume 9, nomor 1, maret 2008olume 9, nomor 1, maret 2008 issn: 1412 1212 redaktur utama robertus tang herman, s.e., m.m. dewan redaksi engkos achmad kuncoro, s.e., m.m. dr. harjanto prabowo, m.m. idris gautama so, se., s.kom., m.m., m.b.a. ersa tri wahyuni, s.e., m.acc. tjia fie tjoe, s.kom., m.m. misbahul munir, ak., m.b.a. parulian sihotang, ak., m.acc., dipres., ph. d rindang widuri, s.kom., m.m. mitra bestari tatang ary gumanti, ph.d. drs. feliks jebarus, m.si. sri hermawati, m.m. retno tanding suryandari, s.e., m.si. tomy gurtama soemapradja, s.e., m.m. synthia atas sari, s.ip., m.si. anderes gui, s.kom., se., m.m. retno dewanti, s.ip., m.m. gatot soepriyanto, s.e., ak, m.buss (acc.) haryadi sardjono, s.t., m.m. ir. dyah budiastuti, m.m. hartiwi prabowo, s.e., m.m. editor bahasa dan setter dra. endang ernawati, m.lib. titik rahayu s., s.s. holil angga ferdiansyah sekretariat hery h.m., s.kom. alamat sekretariat subcenter publikasi ilmiah bidang ekonomi, research and community service center, universitas bina nusantara jl. kebon jeruk raya no. 27 jakarta barat 11530 telp. (021) 5350660 ext. 1210 fax. (021) 5300244 e-mail: heryhm@binus.ac.id issn 1412-1212 subcenter publikasi ilmiah bidang ekonomi universitas bina nusantara economic, business, management, and information system journal vvvvvolume 9, nomor 1, maret 2008olume 9, nomor 1, maret 2008olume 9, nomor 1, maret 2008olume 9, nomor 1, maret 2008olume 9, nomor 1, maret 2008 issn: 1412 1212 daftar isi harjum muharam; hanung sakti analisis perbedaan liquiditas saham, kinerja keuangan, dan return saham di sekitar pengumuman stock split (analysis of the differences among stock liquidity, financial performance, and stock return in period of stock split announcement).................................................................. 1-21 ersa tri wahyuni the accountability of islamic microfinance institution: an evidence from indonesia...................... 22-34 noerlina; deliusno; retdonero; dennis eryanto manajemen proyek online trading system pt universal broker indonesia (project management of online trading system on universal broker indonesia company)............ 35-47 synthia atas sari; hartiwi prabowo analisis pengaruh hasil pemetaan budaya mahasiswa binus terhadap jiwa kewirausahaan: studi kasus tahun ajaran 2006-2007 (analysis of binus student culture mapping influence on entrepreneurship spirit: a case study on 2006-2007)................................................................................................................ 48-61 masruroh; awin indranto analisis elemen ekuitas merek rcti dalam persaingan industri televisi swasta di indonesia: studi kasus pada empat perguruan tinggi swasta terkemuka di jakarta (analysis of rcti brand equity element in the private television industry competition in indonesia: a case study of four private universities in jakarta).................................................... 62-73 robert tang herman strategic flexibility: navigator industri dalam mencapai competitive advantage (strategic flexibility: an industrial navigator in achieving competitive advantage).......................... 74-87 henny hendarti; anton; didi; mochtar cakra analisis dan perancangan sistem informasi akuntansi penjualan dan persediaan (analysis and design of inventory and selling accounting information system)............................... 88-98 isi_1401-0313_r1.fh11 ��������� ���� ������� ��� �� ������ ������������� ��������� ���� ��� ����� � ��� ��� ����������� ���� � ������� ������� � ������� ����������������������� ��! �"� ��� �#��$����� ��%�&�'��� � ������ ����� ��(��)������'��* '��� � ��� � ����� "� �*�+,���)�-.�(�/������'��* '��� �(����0����.����'��* '�� /�. 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gladys gosal factors affecting online donation intention in donation-based crowdfunding ....................................... 97-104 rianda rizky permata; budi purwanto; wita juwita ermawati the outbreak of covid-19 and islamic stock market responses in indonesia ........................................ 105-112 cut rifatmi fadhilaini; heru kurnianto tjahjono; susanto improving employee engagement of muhammadiyah teachers with organizational trust, distributive justice, and psychological empowerment......................................... 113-122 shelvy kurniawan; denny marzuky; rio ryanto; vanny agustine risk and supply chain mitigation analysis using house of risk method and analytical network process ......... 123-136 tara setyaningtyas; annesa nariswari kirana; muhammad angga wicaksono relationship of destination image,sports involvement, event quality, and travel motives as an antecedent factors on revisit intention in recurring running sports-event.................................... 137-146 dhita ayu pradnyapasa; renny nurhasana; ni made shellasih; anita siti fatonah; fadhilah rizky ningtyas women’s support in resilience of online taxi drivers’ families in jakarta during covid-19 pandemic........... 147-153 ari tihar; indriani puspita sari; bambang leo handoko effect of debt default, disclosure, and financial distress on the receiving of going concern audit opinions.. 155-161 roymon panjaitan the role of digital loyalty program towards customer loyalty through a measure of satisfaction............... 163-171 santi rimadias; nesta alvionita; adinda putri amelia using social media marketing to create brand awareness, brand image, and brand loyalty on tourism sector in indonesia ............................................................................................... 173-182 suwinto johan implementation of fiduciary registration according to finance ministry, police, and financial services authority (ojk)...................................................................................... 183-189 index.............................................................................................................................. 191-194 p-issn: 1412-1212 e-issn: 2541-2388 vol. 22 no. 2 september 2021 economic, business, management, and information system journal winnersthe journal 00a_thewinners_editorial_22-2.pdf 00b_thewinnersl_content_22-2 vol. 23 no. 2 september 2022 winnersthe journal p-issn: 1412-1212 e-issn: 2541-2388 editor in chief arta moro sundjaja bina nusantara university, indonesia managing editors noerlina bina nusantara university, indonesia christian harito bina nusantara university, indonesia editor board dhiresh kulshrestha university rajkot-gujarat (india), india martin thomas falk university of south-eastern norway, norway prof. sangeeta sahney indian institute of technology kharagpur, india sivadass thiruchelvam universiti tenaga nasional putrajaya, malaysia yudi fernando universiti malaysia pahang, malaysia elia ardyan universitas ciputra surabaya, indonesia hendry hartono bina nusantara university, indonesia sevenpri candra bina nusantara university, indonesia language and layout editor shavira sarashita bina nusantara university, indonesia dina nurfitria bina nusantara university, indonesia eka yanti pangputri bina nusantara university, indonesia atmawati bina nusantara university, indonesia holil bina nusantara university, indonesia secretariat dewi novianti bina nusantara university, indonesia description the winners is a semiannual journal, published in march and september. the winners focuses on various issues spanning in economics, business, management, and information system through this scientific journal. the winners has been acredited by dikti under the decree number 158/e/kpt/2021 (sinta 2) and indexed by directory of open access journals (doaj), academic research index (research bib), microsoft academic search, garda rujukan digital (garuda), bielefeld academic search engine (base), world catalogue (worldcat) and google scholar, and indonesian research repository (neliti). research and technology transfer office, bina nusantara university, anggrek campus, jl. kebon jeruk raya 27, kebon jeruk, jakarta barat 11530, tel. +621-5350660 ext. 1705/1708, fax.+621-5300244, e-mail: thewinners@binus.edu, https://journal.binus.ac.id/ index.php/winners contents tuti eka asmarani; endah ayu ningsih domestic credit and stock market impact on economic growth: a new evidence in five asean countries ..... 95-102 r. agoes kamaroellah; moh. syafik regional budget management performance at regional finance agency of pamekasan regency ................. 103-112 steven lesmana; sumani abnormal return analysis before and after general election in asia .................................................. 113-119 ken sudarti; putri wira paramita dewi improving marketing performance and product innovation capability through digital knowledge sharing: a case study in smes’ food processing............................................. 121-130 elvira esperanza sala; apol pribadi subriadi hot-fit model to measure the effectiveness and efficiency of information system in public sector .............. 131-141 grasheli kusuma andhini; fauzia qurani andanawarih the importance of brand stories towards brand perception and purchase intention in gen z indonesians ..... 143-152 nureni sanusi alaka; obasuyi okogua evaluating the effects of entrepreneurial orientation and managerial skills on small and medium enterprises performance in lagos state ..................................... 153-160 readdy aria yendola; nila armelia windasari the role of threshold of free shipping promotion and product type on impulsive buying behaviour in e-commerce platform .................................................................... 161-171 muhammad hasnin; musdar muhammad; irfandi buamonabot decentralization and managerial performance: a mediated budget participation on the village government in west halmahera regency ......................... 173-180 sri bramantoro abdinagoro; mohammad hamsal strategic marketing approach of indonesia aluminium mineral industry: upstream and downstream analysis.. 181-188 daniel kurniawan; elia ardyan; istiatin; luhgianto the social capital in family firms: impacts on family-longevity-goals and performances ........................ 189-198 index ............................................................................................................................. 199-203 p-issn: 1412-1212 e-issn: 2541-2388 vol. 23 no. 2 september 2022 winnersthe journal microsoft word 02_nurlina_asian financial crisis1.doc asian financial crisis: overview of asian crisis… (noerlina; sylvia cinthya dewi) 13 asian financial crisis: overview of asian crisis and recovery progress noerlina1; sylvia cinthya dewi2 abstract the rapid recovery in asia economies in some ways of a surprise because many countries in asia had tried a lot of ways to stabilize the economy from the crisis’ pressure in 1997. as a result, most of these countries in asia slowly recover by the step of restructuring in the financial sector, such as fiscal adjustment and the continuation of a floating exchange rate system. keywords: asian, financial, crisis abstrak pemulihan ekonomi asia yang pesat sangat mengejutkan karena banyak negara di asia telah mencoba banyak cara untuk menstabilkan ekonomi dari tekanan krisis pada tahun 1997. sebagai hasilnya, bayak negara di asia perlahan-lahan pulih dalam sektor finansial, seperti penyusaian fiskal dan kelanjutan sistem nilai tukar mata uang. kata kunci: asia, keuangan, krisis 1,2 staf pengajar fakultas ekonomi, ubinus, jakarta journal the winners, vol. 4 no. 1, maret 2003: 13-17 14 introduction the floating of the thai baht in 1997 had caused a deep financial sector crisis in asia. the crisis spread to other asian countries and the interest of investors toward the region reduced significantly that led the economic activity like investment, consumption and export demand sharply declined. as in indonesia, the economic crisis in 1997/1998 was exceptionally difficult because this country experienced both financial/economic and political crises. indonesia crisis has been deeper than other countries in asia like korea, malaysia and thailand. the recovery progress was very slow due to too many problems in the country region such as riot, corruption and heavy debt burden that led to negative foreign investment flows since 1997. the banking sector reform in indonesia is being carried out by the ibra (indonesian bank restructuring agency), which is included as one of the asset management vehicle (amc) in asia. there are also similar amc vehicles in asia like korea asset management corporation (kamco) in korea, danaharta in malaysia and financial restructuring authority (fra) in thailand. this will be discussed further in this paper. due to the asian financial turmoil of 1997, asian has suffered severely. however, we believe that although they have all had to go through tough times, they have learned very valuable lessons in return. the first and foremost lesson is the crisis prevention. all asian countries need to prevent such crises in advance, each country must continually push forward with restructuring of its corporate and financial sectors, so that it can rid its economy of structural vulnerabilities. in the present international environment of advancing cross-border economic integration, each country must also strive to comply with international standards in areas of its statistical and accounting practices. at the regional level, asian countries need to have closer cooperative ties with each other. by setting up close communication networks, they can communicate and share information on each other's economic situation and on capital flows in the region. in this perspective, some issues related to key underlying assumptions and forecast results would be briefly addressed in the light of the latest information available. discussion overview of the asian crisis the asian crisis in 1997 was triggered off by the thai bath devaluation. since may 1997 the thai's economy has been slowing down due to political instability, which in turn caused massive market speculations. in addition to that, the currency and stock market sharp fall has created a financial turmoil that affected thai's economic fundamentals. due to the weakening macroeconomic conditions experienced by many south east asian countries, these countries could neither increase their domestic business or their overseas exports. asian financial crisis: overview of asian crisis… (noerlina; sylvia cinthya dewi) 15 the financial crisis in asia began with currency markets, however the instability of exchange rate occurred due to the problem within the banking sector. many financial institutions and companies had borrowed in foreign currencies without adequate hedging, making them vulnerable to currency depreciation. in many asian countries, production has declined, whilst inflation and unemployment have shot up. the rapid decline in currencies and stock market levels marked the beginning of the asian financial crisis. while thai, korean, malaysian and philippine's currencies had fallen 40 to 50%, indonesian rupiah was experiencing a decline up to 500 to 600%. this affects the local currencies that had to be used to service foreign loans. a tremendous increase in forex (foreign exchange) loss was then created. highly leveraged corporate sectors and large un-hedged short-term debt, those especially in indonesia, korea, malaysia and thailand, made these crisis countries vulnerable to changes in market sentiment, particularly to exchange and interest rate changes. among other asian countries, malaysia and philippines were less vulnerable. however, by the second round, when the crisis hit taiwan, singapore and hong kong's dollar, all countries were heavily affected by the crisis. indonesia was the worst among the most affected countries. in order to help stabilize the economic of the above-mentioned countries (except malaysia), the international monetary fund (imf) immediately responded by providing funds of us$ 35 billion. at the same time, imf also designs plans to help those countries right to overturn their economies. despite imf’s financial support to help asian financial crisis, imf was being criticized. this is due to their policy proposals that seem to favor international investors over domestic investors. often times, imf’s recommendations give relaxation of the restrictions on foreign investment, which has led the sales of the business at a distressed price. asian recovery according to asia recovery report 2000, asia’s recovery has been encouraging and faster than expected but incomes and living standards have still a way to go to reach pre-crisis level. korea has experienced the strongest recovery, while indonesia is furthest behind and it is yet broad-based. asset market has led the recovery, with exchange rates and equity valuations at the forefront, but property markets have yet to recover. exports and public spending have driven recovery in the real economy, while private consumption and investment are beginning to track upward as well. the domino effect of the asian financial crisis brought about different policy responses across this part of the world. therefore, as part of the financial sector reform progress in asia, most of the countries in asia established an asset management corporation (amc). amc is a liability agency, which facilitates the transfer of problem assets from financial institution to an expert management of problem loans with the process of maximizing net returns over a reasonable timeframe. the government in asia set up these amc vehicle due to the banking sector failures that is high levels of non performing loans therefore it needs to recapitalize banks and repairing the balance sheet in those countries. these amc vehicles have been established in several emerging market countries that is in indonesia (indonesian banking restructuring agency), malaysia journal the winners, vol. 4 no. 1, maret 2003: 13-17 16 (danaharta), thailand (financial sector restructuring authority), and korea (korea asset management corporation). bank re-capitalization and restructuring is proceeding at an uneven pace. korea and malaysia were ranked as the fastest, indonesia was the slowest while in thailand it is considered to be moderate. recovery is mainly cyclical not structural because recovery progress spread fast among other asian countries. this way it could drive faster recovery in neighboring countries. korea has the fastest recovery progress because the government really put a lot of effort to stabilize the country's economy. in malaysia, because insolvency practices were based on the english model, restructuring therefore could be carried out quickly. in thailand, the insolvency process is similar to the civil law model; the process is very slow because of a great deal of court involvement that is required. thailand is more focused on the liquidation than reorganization. since 1999, the companies in thailand were given a second chance to reorganize the company, rather than liquidation. this has made the law more attractive to the companies as there were an increasing number of companies that enter the insolvency process voluntarily. however, thailand’s law is very limiting, therefore it needs to adopt western approach in order to carry out the recovery more quickly. indonesia, on the other hand, is facing difficulties in solving the recovery progress. the country is under weak government institutions and robust political competition, which in turn cause a political instability. its high level of corruption has made it even harder for the country to recover from the crisis. conclusion since july 1997, when the thai bath collapsed, east asia has experienced an unprecedented economic contraction and dramatic recovery. although adjustment is not complete, there has been significant progress made in repairing balance sheets disrupted by recent financial crises. steps also have been taken to improve supervision and regulation. however, the biggest challenge facing east asian policymakers is to decide how much of certain traditional institutional practices to keep, and how much to discard in favor of systems in place advanced market economies. details recovery progress of the countries in asia will be discussed further in next jurnal. references bank indonesian, indonesian financial statistics, various issues; central bureau of statistics, official releases, various issues; ministry of finance, international monetary fund, international financial statistics, various issues; staff estimates. hesketh. w. june 2001. notes of the asian financial crisis. jakarta: pt deloitte advisory. asian financial crisis: overview of asian crisis… (noerlina; sylvia cinthya dewi) 17 www.adb.org/documents/books/ado/2002/ino.asp http:www.cidse.org/pubs/tamingtigers.html#1.%20the%20mft http://www.efic.gov.au/economics/020510.asp http://www.economicjustice.org/resources/media/malaysiaimf.html www.globalpolicy.org/socecon/global/khorasre.htm http://www.orrick.com/about/offices/tokyo/article4.htm http://www.mof.go.th/ther_2/index_ther.html, 4/12/2000; feer 7/9/98,67. www.bppn.go.id www.danaharta.gov.my www.fra.or.th www.kamco.or.kor isi_1402-0913_r1.fh11 ��������� ���� ������� ��� �� ������ ����������������� ��������� ���� ��� ����� � ��� ��� ����������� ���� � ������� ������� � ������� ������������������� ��! 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04_mn_budiman's_220816_rev1.doc impact evaluation study …… (budiman notoatmojo) 29  impact evaluation study for institution strengthening of social food distribution budiman notoatmojo management department, school of business management, bina nusantara university jln. k.h. syahdan no.9, palmerah, jakarta barat, 11480 d1601@binus.ac.id / budiman_phd@yahoo.com the general objectives of this study were to evaluate whether the implementation of activities for strengthening ldpm could achieve the expected goals, to evaluate whether the ldpm strengthening activities had a positive impact. the study analysis used was descriptive, comparison, and financial analysis. the results of this study have shown that ldpm farmers’ income have increased significantly, and the gapoktan as lpdm farmers’ institution has been significantly developing as a bulog function in procuring grain paddy from farmers during peak harvest and distributing rice to stabilize the price of rice during the limited rice in the market. keywords: farmers group association (gapoktan), lpdm, and bulog. introduction the drop in the price of grain during the harvest and the unavailability of food reserves during the drought are interrelated that almost always overrides farmers and rural communities. indeed it is the task of bulog (badan urusan logistik/indonesia bureau of logistics) to buy grain at harvest time to stabilize the price, to hold, and to distribute food supplies to people needed during harvest time or if there is a disaster. however, bulog is unable to do so simultaneously, either during the harvest or during the drought where most of the people needed. so there are two problems to be solved simultaneously, namely falling grain prices and the availability of food reserves. according to the food security agency which has launched a breakthrough program since 2009, strengthening institutions food distribution society (strengthening ldpm/lembaga distribusi pangan masyarakat) by channeling social funds (bantuan sosial) assistance ldpm to gapoktan (gabungan kelompok tani/association of farmers group). it is hope that gapoktan is able to contribute to purchase grain farmers with a minimum price of hpp (harga pokok penjualan/floor price), conduct processing of paddy to rice, store and sell grain or rice at a high price in order to generate optimal profits, manage food reserves and releasing to the current members if needed, especially in times of scarcity or disaster. the general objective of this study is to evaluate whether the implementation of the activities during the ldpm reinforcement can achieve the desired objectives, evaluate whether this ldpm strengthening activities have a positive impact, provide recommendations for the future sustainability of the program. methods according to the world bank (2013), impact evaluation rigorously measures the project's impact on beneficiaries. this is usually done by comparing the results between the beneficiaries and the control group, both before and after the project is implemented. therefore, the simplified logical framework is essentially to strengthen the organization management of gapoktan that is able to deliver the venture capital to unit distribution/marketing/processing unit and reserves so as to benefit from 30    journal the winners, vol. 17 no. 1, march 2016: 29-35  selling rice, stabilize prices at harvest time, and provide a food reserve that can be used members at any time, if needed. from the discussion, it is logical-framework composed of assessment evaluation strengthening of ldpm as seen in figure 1 and 2. figure 1 logical framework for strengthening ldpm figure 2 operational frame work impact price of grain, rice corn achievement of stable food farmers’ income and social welfare increased increased of fund capital bansos fund used for capital management construction warehouse for grain, rice, corn warehouse for grain, rice, and corn input output outcome increased of food reserve fund used to buy grain, rice, corn, and used for food reserve guidance and management increased of farmers member who used for food reserve reporting * 1. inception report * 2. interim report * 3. final report indicator * 1..price of grain, rice, and corn * 2. food security condition * 3. the phaegapoktan manajemen * 4. the phase of gapoktan succes * 5. the phase of ldpm adoption information needed * 1.price of grain, rice ,and corn * 2.economic condition (margin and income) * 3.social condition (food acsesability) * 4.ability to use bansos fund effectively * 5.number of approved ( success) gapoktan * 6.number of gapoktan non lpdm that adopted ldpm approach data source *.1.gapoktan committee, member, chairmen *.2. gapoktan technical team *.3.agriculture service *.4.local government data collection & analysis * .1. field survey, observation, discussion * .2. primary and secondary data *. 3. descriptive analysis, swot, trend, roi *. 4.financial analysis goal identification * 1.impaact evaluation lpdm * 2. benefit evaluation lpdm impact evaluation study …… (budiman notoatmojo) 31  data analysis is the stage to interpret the data obtained. the activities undertaken include a primary data analysis and information collected. because there is no baseline data then its substitute with gapoktan control. thus the analysis of the data used is with or without project (suryana, 2013). the analysis includes the descriptive analysis (moa in http://panel hrgabkp.deptan.go.id) and the benchmarking analysis (moa in http://aplikasi.deptan.go.id). to compare performance is used before and after the activities by comparing gapoktan participants with gapoktan control (with and without project analysis). the method to be used is hypothesis testing for two independent populations. the hypothesis tested is: statistical tested: critical value: trend analysis is a statistical analysis which intended to make an estimate or forecast for the future (sedana, 2013). in the study due to the period of data collected is not enough, then the trend analysis is used only to illustrate the progress of the achievements of each gapoktan. while wiehle et al., stated that financial feasibility analysis studies (björnsdóttir, 2010) are often used in assessing the activities of the production is the return on investment with the formula: roi (return on investment) is calculated by comparing the total revenues minus gapoktan participating farmers received social funds (gapoktan bansos) that divided by funds received from bantuan social (social assistance). then it is measured the economic benefits to the b/c1 ratio from the group, in conducting a unit efforts with the following formula value advantage that revenue fewer costs divided by costs. if the time series data will also be used enables the analysis of the npv (net present value). to facilitate the preparation of the questionnaire presented a check-list relationship between evaluation purposes, the method of analysis, the unit of analysis, as well as the type and method of data collection, can be seen in the following table. table objective evaluation, tools and analysis unit and data types evaluation objective analysis framework analysis unit data type and data collected 1. to see strengthening impact ldpm to: a,b,c,d, primary and secondary data from http://aplikasi.deptan.go.id/smspld pm a. price stability, price of rice, grain, and corn 1. descriptif analysis 2. trend analisis 1. gapoktan financial secondary data gapoktan, using check list questioner b. economical condition (increase margin and income) 1. descriptive analysis 2. b/c ratio analysis 3. roi and npv 1. gapoktan quantitative financial secondary data gapoktan, from cek list priimary data from interview gapoktan c. social condition 1. trend analysis gapoktan primary data from interview with gapoktan note: √ check-list quetioner h 0 : μ 1 –μ 2 = 0 h 1 : μ 1 –μ 2 ≠ 0 ( ) 2 2 21 2 1 2121 // )( nsns xx z + −−− = μμ 2/ 2/ α α zz orzz −< > 32    journal the winners, vol. 17 no. 1, march 2016: 29-35  table objective evaluation, tools and analysis unit and data types (continued) evaluation objective analysis framework analysis unit data type and data collected d. the funtional phase of institution: • bansos fund development • food procurement • food reservation and distribution • role of facilyties 1. roi analysis 2. trend analysis 3. b/c ratio analysis gapoktan primary and secondary data qualitative and quantitative from gapoktan committee and resource person secondary data from gapoktan 2. lpdm program need to be continued ? exit strategy? 1. trend analysis 2. b/c ratio analysis gapoktan secondary data primary data note: √ check-list quetioner the study is conducted by taking a sample of the recipient of the social assistance of gapoktan strengthening ldpm 2009 and 2010 (phase independence) from 9 provinces, namely west java, central java, di yogyakarta, lampung, north sumatra, south kalimantan, west kalimantan, south sulawesi, and west nusa tenggara. each province randomly selects two districts, and each district selects two gapoktan ldpm randomly (total 72 gapoktan ldpm). from each district also selects 1-2 gapoktan non ldpm as controls (total 13 gapoktan control). respondents are interviewed include the chairman of gapoktan, gapoktan caretaker, companion, farmer members and district-level technical adviser. results and discussions the development of gapoktan distribution business units and reserve units has increased by 59,8% and 67,3%. it indicates that gapoktan has been carrying out activities that mandated by the general guidelines for strengthening ldpm. bansos funds received have been used by all gapoktan (100%) to build warehouses. this is in accordance with the rules that stated in the general guidelines. approximately 63,3% reserve warehouses built on land is owned by the gapoktan, while remaining on a land grant of 24,5%, and the land belongs to members of 2%; and that 10,2% had a notarial deed. even though many choices of purchasing grain/rice/corn, but 60% gapoktan prioritize the permanent members, and 20% gapoktan prioritize non-permanent members. as the place of purchase within the rules. gapoktan has implemented the procurement of food reserves of grain, rice, and maize to replenish warehouse stock of food. this stock is stored and sold at a decent price, and partly for the food reserve. gapoktan distributed grain is either not sold (44%) and for further processed or stored as a backup or to be sold (60%) varies. this condition is an economic opportunity to select more than one distribution/sales. when it is not exhausted to channel into one place, could be channeled into other places. gapoktan bought grain/rice is at above hpp (floor price). as expected the average purchase price of grain per kilogram is rp 3.848,00 and rice rp 6.804,00 by gapoktan ldpm above hpp (grain rp 3.300,00 and rice rp 6.600,00) and the purchase price of an individual is higher than from non-members. the average selling price of grain is rp 4.158,00 and rice is rp 7.357,00 also above hpp, and the average selling price of rice to members is lower than non-members. gapoktan buys corn from the various places. one gapoktan can buy 2 or 3 that depends on needs and economic considerations. the existence of various places where gapoktan buys corn shows that 46,33% gapoktan buys corn from active members; 24,5% of non-member farmers in the same village and 20% of farmers outside the village. impact evaluation study …… (budiman notoatmojo) 33  reserve gapoktan rice has been functioned and used by 39% of active members and 24% inactive members. the average volume of lending is 26 kg/family in a month for active members and 12 kg/family in a month for inactive members. distribution of rice reserves makes at the time is famine 57,9%, no disasters 26,3%, and 15,8% at any time. distribution of food reserves when disaster actually is not a task of gapoktan, therefore in such cases to restore local government food reserves are borrowed during the disaster to gapoktan. gapoktan is not a charity institution, but it remains oriented to institution profits. after following strengthening ldpm, gapoktan percentage who engages in activities that are off-farm increased significantly, such as buying and selling grain/rice/maize (up 50%), processing (up 35%), and management of reserves (an increase of 55%). while the on-farm activities such as the provision of inputs and another agronomic management, savings, and loans are still performed but no significant increase or even remain. a positive impact on the gapoktan management is in particular stages of planning activities, business planning, demand planning food reserves, and monitoring and bookkeeping orderly after receiving bansos for ldpm strengthening. also compared to non-ldpm, the ldpm gapoktan was still better off. at national level strengthening activities ldpm has managed to raise and maintain the stability of the price of grain and rice gapoktan members ldpm, especially when the prices fall in the harvest season. figure 3 shows that nationwide during the year 2012, the price of unhusked rice harvest (gkp) for gapoktan farmer members who got bansos ldpm always above hpp (floor price) and tend to be higher than the average price of gkp farmers. at the moment, the price gkp at farm level falls below the hpp in the harvest season (march-may 2012) farmer group members still get the price above the hpp. similarly, the price of paddy at the mill, and the price of rice milling rate nationally. it turns out that this condition is found in almost all the provinces and districts, as seen in figure 3. figure 3 grain price development (gkp) at farmers ldpm level and at national level the average ending balance of cash book bansos ldpm fund when the survey is usd 83 million in cash and usd 34 million bank accounts. the existence of the final balance is a major indicator that gapoktan participants strengthening ldpm are still going well. during the project period of 4 years, gapoktan gains as much as us $ 46,7 million, an average of rp 11,7 million per year, or 6,74% per year. indeed, the interest rate is below the bank 8% per year. but keep in mind that there are other benefits that have not been taken into account, namely the increase in tangible assets and intangible assets. the facility of grain processing greatly affect the economic benefits. first, because it is associated with a cost, both the drying, and milling, and secondly, it is related to the quality of rice produced. limitations are drying floor forces the farmers to hire a dryer, as well as ownership of rmu. cv=3,0 34    journal the winners, vol. 17 no. 1, march 2016: 29-35  comparing with gapoktan non-ldpm, the owned assets of gapoktan ldpm also looks better, except ownership of a dryer and a tractor is owned more by gapoktan non-ldpm. by having better business assets show that ldpm strengthening activities motivate gapoktan to have a more professional effort. by using the average price of members and non-members as well as the conversion of gapoktan grain rice to 56% (to them including processing fees), then the rice sales business makes a profit of rp 242,00/kg of rice. when it should hire processing facilities (including the drying and grinding) which require an additional fee, then the profit value will be reduced. therefore it is quite reasonable when gapoktan rmu expects to have its own purchased by non-members or other funding sources (budget or banking). the increasing number of permanent members (18%) indicates that the interest of farmers to become members gapoktan who receive strengthening ldpm is increasing. while the decreasing number of non-permanent members (38%) shows that the displacement of the non-permanent membership status becomes permanent. this condition indicates that the presence of gapoktan strengthening ldpm has attracted the interest of farmers to become a permanent member because it provides benefits to its members. the transparency of financial management is measured by the level of knowledge of participants farmer group as an ldpm members shows (1) determine gapoktan bansos receives funds as much as 92,6%, (2) the use of funds bansos knows as much as 94,44%; but (3) the cash balance of gapoktan knows only 62,70%, while 33,33% do not know the farmer gapoktan members and the rest do not answer. this condition indicates that revenue transparency and the use of bansos funds are very good, but on the cash balance gapoktan rated pretty but still needs to be improved. before receiving bansos ldpm gapoktan majority (45,5%) share gains as shu members, but after participating in activities strengthening ldpm, most gapoktan (43,3%) have taken advantages to increase business capital. members believe and realize that increase business capital will boost revenue and enhance the performance of gapoktan as a provider of food reserves and guard price stability in farmers to keep on top of hpp, especially at harvest time. togetherness and caring society that is rooted in local policies able to glue the fraternity to prosperity. a total of 82,5% of respondents indicate that ldpm strengthening is helpful. based on the benefits of that 75% of respondents said strengthening ldpm is followed, only 1,47% are told to stop. it turns out that the principle of benefit for the farmer group members are not only economic benefits but also equally important social benefits as indicated by the "can establish a relationship". indeed the role of social capital in the process of empowerment of farmers can not be considered trivial; sometimes it is even determining the success. based on the magnitude of the acquisition of farmers' income, sales result’s production in the form of rice gives higher earnings compared with the results of the sale of products in the form of paddy (popidylah, radian, & suyatno, 2015). the member of gapoktan ldpm generally never borrows money from the group (48,39%), which often borrows only 11,29%. they believe that this money is used as gapoktan capital for agricultural activities that making it more useful than the loan. similar circumstances in borrowing grain, because farmers feel still able to meet their own needs. yet there remains a permanent member or not obtain a loan of grain/rice and corn. there is no interest to pay the loan. farmers obtain assurance market, as shown by the majority of farmers who are always bought by gapoktan (57,25%), while never just 4%. likewise, guarantee gapoktan price is always higher than the market price (44,35%). members also get a share of the profits from the group. from the survey results show that ldpm strengthening gapoktan believed by members to provide marketing collateral, the higher price than the market price and the guarantee of profit sharing. another impact strengthening ldpm is to increase the confidence. impact evaluation study …… (budiman notoatmojo) 35  conclusions due to food security is one of the pillars of national development, through the program for strengthening ldpm is very important to motivate gapoktan to develop the agribusiness on rice and corn. farmers are no longer selling their own to middlemen, but they have been combined in gapoktan to sell it in groups. although the gapoktan benefits are not optimal, but their profits are still better than profits earned before they receive bansos funds under the program of strengthening ldpm. the level of profits does not take into account and take advantage of the increase in tangible and intangible assets that owned by gapoktan as the impact of the "business capital" provided by the government through strengthening ldpm activities. even though the benefits are partly not optimal due to gapoktan, in general, has limited processing infrastructures such as harvesting equipment, dryers, drying floors, rice mills/maize. meanwhile, other limitations that are not owned by gapoktan among others are gapoktan human resources’ skills in entrepreneurship to run its business, the development of marketing networks, and the development of venture capital. if the infrastructure and capabilities, as well as the development of networking entrepreneurship, enhanced marketing, then gapokatan are able to achieve even greater gains. in strengthening ldpm activities which are able to push gapoktan to grow the business and increase the value-added downstream side, namely, as a food business (storage, processing, packaging) compared to only perform activities on the upstream side that is only as perpetrators of cultivation. although the activities of entrepreneurship are not sufficient, but it is already able to show the development of the embryo food business economic institutions. looking ahead after gapoktan beyond the stage of independence and has become an asset of the provincial government and the city district, then to maintain the assets of gapoktan (capital and tools that have been provided by the government) need to be done intensively, so it does not become a no man's land assets (depleted indivisible for or used by the board gapoktan only). the social impact of the implementation of the strengthening ldpm among others is to increase the interest of farmers to the food business, foster a culture of transparency in financial management, and foster a caring and sharing towards fellow members and rural communities. the strategy mentoring and coaching will be adapted to the conditions and status groups according to their level of success. references björnsdóttir, a. r. (2010). financial feasibility assessments building and using assessment models for financial feasibility analysis of investment projects. university of iceland reykjavik: school of engineering and natural sciences. available from http://skemman.is/stream/get/1946/4452/12991/1/assessment. popidylah., radian., & suyatno, a. (2015). analisis pendapatan usaha tani padi di desa sungai kinjil kecamatan benua kayong kabupaten ketapang. jurnal social economic of agriculture, 4 (2), 74-87. sedana, g. (2013). modal sosial dalam pengembangan agribisnis petani pada sistem subak di bali (doctoral dissertation). bali: universitas udayana. suryana, a. (2013). penguatan ldpm: pemberdayaan lembaga ekonomi petani. jakarta: sinar tani. world bank. (2013). impact evaluation methods. africa impact evaluation intiative. microsoft word 01_jja_mn_andhi bharata_15-160816_rev1_dina.doc the influence of compensation …… (andhi bharata) 1  the influence of compensation and training toward work discipline and its impact on the employees’ performance in the research center of science and technology (puspiptek) andhi bharata management department, school of business management, bina nusantara university, jln. k.h. syahdan no 9, jakarta barat, dki jakarta, 11480, indonesia andhibharata27@gmail.com abstract background issues that occured in puspiptek (research center of science and technology) was the declining of employee performance, low discipline in work such as not obeying the rules, and decreased absenteeism as coming late to the office. the purpose of this study was to determine the effect of compensation on, the effect of training on work discipline, the effect of compensation on employee performance, the effect of training on employee performance, the effect of work discipline on employee performance, and the effect of compensation and training to the work discipline and its impact on employee performance puspiptek. this research was associative and the measurement scale applied likert scale. the method of analysis used was path analysis and the number of samples in this study was 116 respondents. based on the result, this study concludes that the compensation and training toward the work discipline has a significant influence on the employees’ performance. the empirical findings indicate that in order to improve the employees’ performance in puspiptek need to pay attention on compensation, training, and work discipline. keywords: compensation, training, work discipline, employees’ performance introduction the occurrence of this globalization gives impact on the development of the increasingly modern era. the development of modern era has an impact on the organization or company. they must be more careful and quick in following its development if do not want to left behind, especially in science and technology which has increasingly evolved. the development in science and technology is certainly giving a positive impact in a wide range of information and knowledge, recent discoveries, and advanced technology. as an organization or company, it could harness science and technology in processing the goods and services to make it more effectively and efficiently. in this process necessarily is required human resources to implement them. research center of science and technology (puspiptek) is an area of research which is located in the village setu, setu district of south tangerang city. puspiptek is a tool in conducting research of targeted and integrated as a determinant of community needs and raise awareness of the role of science and technology in national development. in the region of puspiptek, there are three non-ministerial government institution, namely batan (national nuclear energy agency), bppt (agency for the assessment and application of technology), and lipi (indonesian institute of sciences). these three institutions are located in puspiptek region that produces variety of researches and technical services in various laboratories. as in the processing of industry sector, there is a national standard laboratory that has become the reference for all measurements in indonesia. 2   journal the winners, vol. 17 no. 1, march 2016: 1-8  besides that, in the food sector, pharmaceuticals and medical have produced tempe processing technology into milk, ice cream, and extraction of efficacious ingredients for traditional herbal. puspiptek is not apart from a few problems that occurred in employees' performance, such as when the employees have been giving appropriate compensation, but in reality, what often happen is the employees who have been compensated by a corresponding amount, it does not affect their discipline in work. employees still cannot be disciplined at work, such as coming late to work and passing of the deadline to complete the task (a predetermined time). coming late to work will decrease the employees' performance, and it will cause the working time has reduced from a predetermined time, so employees take more time to complete its work. besides compensation, puspiptek also provides regular training each year to its employees to improve their ability and to make employees be disciplined at work. the training that provided by puspiptek aims to train employees to be responsible and implement existing regulation and to improve the capabilities of the employees. if puspiptek can provide appropriate compensation and training, it will affect on employees work discipline that resulted in an increasing of employees’ performance, so it can help puspiptek to achieve organizational goals. based on puspiptek problems on this research, it is needed further research and to find out the influence of compensation and training toward work discipline and its impact on employees’ performance in puspiptek. there are several problem identifications, is there any influence of (1) compensation toward employees’ work discipline, (2) training toward employees work discipline, (3) compensation toward employees’ performance, (4) training toward employees’ performance, (5) work discipline toward employees’ performance, (6) compensation and training toward work discipline and its impact on the employees’ performance in puspiptek? menawhile, the research objectives are to find out (1) the influence of compensation toward employees work discipline, (2) the influence of training toward employees work discipline, (3) the influence of compensation toward employees performance, (4) the influence of training toward employees performance, (5) the influence of work discipline toward employees performance, (6) the influence of compensation and training toward work discipline and its impact on employees performance in puspiptek. this research gives benefits for puspiptek, the employees, and others. the benefits of this research for puspiptek are (1) to provide information about the influence of compensation and training toward work discipline and its impact on employees’ performance in puspiptek; (2) to provide suggestion to puspiptek in efforts to improve work discipline through the provision of compensation and training; and (3) to be a reference to provision of compensation and training that can be used in improving employees’ performance in puspiptek. while for others, this research has benefits, such as (1) to be useful for learning and can be used as a reference for others who want to examine the implementation of the compensation, employees training, and work discipline; (2) the other party can find out how the compensation and training can affect the work disciplines that have an impact on employee performance; (3) to add insight to the reader about puspiptek. compensation is paid to employees in exchange for services that they have contributed to the company (bangun, 2012). according to r. wayne mondy (2014), the compensation is the total remuneration that given to employees as a reward for their services. hameed et al., (2014) has stated that compensation has the positive impact on employee performance. compensation is divided into two types; they are financial and non-financial compensation. the services that are donated by employees for their work get rewarded in the form of money, either directly or indirectly. direct financial compensation is paid tribute in the form of salaries, wages, incentives, and bonuses. meanwhile, indirect financial compensation is a form of financial rewards that paid indirectly, such as the influence of compensation …… (andhi bharata) 3  social security, medical, insurance, vacation, retirement and other benefits. while non-financial compensation is an award that not given in the form of money, but someone will get satisfaction from the work and the environmental organization. such compensation may include to organizational policies, qualified managers, fun coworkers, flexible time, and good job distribution (bangun, 2012). according to mathis & jackson (2010), training is a process whereby people acquire capabilities to aid in the achievement of organizational goals. so the training is a process whereby an employee can gain the ability to assist in the achievement of organizational goals. training is a process created by the organization in an effort to improve the quality of its employees in order to work optimally in order to assist the organization in achieving its objectives. sultana et al., (2012) has stated that in the development of organizations, training plays a vital role in improving performance as well as increasing productivity, and eventually putting companies in the best position to face competition and stay at the top. work discipline is a form of the terms that defined and accepted by the employees to comply with existing regulations in an organization so that employees can work in a responsible manner. according to byars & rue (2006), the work discipline is the action that taken against an employee who has violated an organizational rule or whose performance has deteriorated to the point where corrective action is needed. this means that the discipline is an action taken against employees who have violated the rules of the organization or whose performance has deteriorated to the point where corrective action is needed. robbins & coulter (2005) have said that performance is the work result of individuals or groups in achieving the organization's goals set in accordance with a predetermined period. group or organization is made up of several individuals so that individual performance will affect the performance of the group or organization. training and performance are still affecting each other that awang (2010) has defined that personal training affect job performance (skills and individual capabilities impact on productivity). assessment of performance (performance appraisal pa) is the process of evaluating how well employees are doing their jobs when compared with a standard set, and then communicate with employees (mathis & jackson, 2006). methods figure 1 theoretical framework (source: author) the theoretical framework (figure 1) is based on the following hypotheses with first hypothesis: ho: there is no significant influence between compensation and employees work discipline in puspiptek. ha: there is significant influence between compensation and employees work discipline in puspiptek. compensation (x1) training (x2) work discipline (y) employees performance (z) h1  h2 h3 h4 h6  h5 4   journal the winners, vol. 17 no. 1, march 2016: 1-8  the second hypothesis is: ho: there is no significant influence between training and employees work discipline in puspiptek. ha: there is significant influence between training and employees work discipline in puspiptek. the third hypothesis is: ho: there is no significant influence between compensation with employees’ performance in puspiptek. ha: there is significant influence between compensation with employees’ performance in puspiptek the fourth hypothesis is: ho: there is no significant influence between training with employees' performance. ha: there is significant influence between training with employees' performance. the fifth hypothesis is: ho: there is no significant influence between employees work discipline with employees performance in puspiptek. ha: there is significant influence between employees’ work discipline with employees’ performance in puspiptek. the sixth hypothesis is: ho: there is no significant influence between compensation and training toward work discipline with the employee's performance. ha: there is significant influence between compensation and training toward work discipline with the employee's performance. the research design used is associative research to determine the effect of independent variables on the dependent variable through intervening variables as the intermediate variables. the unit of analysis targeted is all of the employees in puspiptek as much as 162 employees. sampling technique used in this study is the probability sampling in which everyone who will be sampled will have the same opportunities, while the sample selection is done by simple random sampling method with the purpose to get accurate results although through the randomly selected because the sample has taken already represented a whole population. then the sample used in this study as much as 116 employees in puspiptek. data collection techniques used is trough spread the questionnaire within one week to the study respondents. the analysis technique used is path analysis by using spss version 20. the results of this study can be used by companies to evaluate and make improvements to the compensation, training, and work discipline so that the employees’ performance in puspiptek can be improved. the research design of this article can be seen in table 1. table 1 research design research objectives type of research method research method unit of analysis time horizon h1-6 associative survey individual employees in puspiptek cross sectional source: author (2016) the influence of compensation …… (andhi bharata) 5  operationalization of the variables used in this study is the independent variables, namely compensation (x1) and training (x2) as well as the dependent variable, namely work discipline (y) and employees performance (z). table 2 represents the operationalization of research varaibbles. table 2 operationalization of research variables variable dimension indicator measurement scale compensation (x1) direct compensation salary likert scale incentive indirect compensation protection (insurance and pension funds) allowance facility training (x2) training program infrastructure likert scale methods and content of training training time benefits of training labor discipine (y) the attitude and behavior of employees frrequency of attendance likert scale strict adherence to regulations strict adherence to labor standards work ethic employees performance (z) employees performance assessment number of jobs likert scale quality of work punctuality attendance ability to work in team source: author (2016) the types of research data are quantitative and qualitative data. the quantitative data is data in the form of its numbers that can be counted and measured the amount to be processed using statistical methods. while qualitative data is the research data that is not a number that nature can not be calculated in the form of information or explanation based on a theoretical approach and logical assessment. the source of research data consists of primary data and secondary data. data collection techniques that the author uses in this research are both literature study and field study. results and discussions after doing steps of validity, reliability, normality, correlation, and path analysis that obtained results of data processing to find out the influence of variable compensation (x1) and training (x2) toward the work discipline (y) and their impact on employees performance (z). it can be seen in table 3. 6   journal the winners, vol. 17 no. 1, march 2016: 1-8  table 3 relationship of the empirical causal of variabel x1, x2, toward y to z influence of variable causal influence residual 1ε and 2ε total indirect direct through y x1 toward y 0,442 0,442 x2 toward y 0,550 0,550 x1 toward z 0,128 0,128 0,128 + (0,442 x 0,598) 0,392 x2 toward z 0,270 0,270 0,270 + (0,550 x 0,598) 0,598 y toward z 0,598 0,598 x1 x2 y toward z 0,812 0,188 1,00 source: data processing (2016) in overall, the influence of the causal variable compensation (x1) and training (x2) toward work discipline (y) and their impact on employees’ performance (z) can be described in a model of the complete structure in figure 2. figure 2 relationship of the empirical causal of variabel x1, x2, toward y to z (source: author, 2016) conclusions based on the research and discussion that has been done, the authors obtain the research results that will be used to meet the objectives of this research. on the first objective which is to find out the influence of compensation on work discipline in puspiptek. it is concluded that the compensation has a significant influence on work discipline in puspiptek. on the second objective which is to find out the influence of training on work discipline in puspiptek. it is concluded that training has a significant influence on work discipline in puspiptek. on the third objective which is to find out the influence of compensation toward employees performance in puspiptek. it is concluded that the compensation has a significant influence toward employees’ performance in puspiptek. on the fourth objective which is to find out the influence of training toward employees performance in puspiptek. it is concluded that training has a significant influence toward employees’ performance in puspiptek. on the fifth objective which is to find out the influence of work discipline toward employees performance in puspiptek. it is concluded that the work the influence of compensation …… (andhi bharata) 7  discipline has a significant influence toward employees’ performance in puspiptek. and on the fifth objective which is to find out the influence of work discipline toward employees performance in puspiptek. it is concluded that the work discipline has a significant influence toward employees’ performance in puspiptek. based on the research and discussion that has been done, it is evident that the compensation, training, and work discipline has a significant influence toward employees performance in puspiptek. puspiptek can improve the system of compensation given to employees by increasing the provision of compensation in directly or indirectly. giving direct compensation can be improved by increasing the salaries of the employees, while the provision of indirect compensation such as health insurance and pension fund guarantees can be repaired so that the employees feel assured by the health and pension funds. beside that, the facility to support employees in working could be improved in order to assist and meet the needs of employees at work. so that, if when the provision of compensation in directly or indirectly may be given properly, then it will help improve work discipline which impacted on increased employee performance. puspiptek can provide an appropriate training that suitable with the needs of employees. the training given to employees can be improved by increasing the number of training for employees, followed by the quality of training itself. the quality of training is intended to provide training that is more helpful and useful, not only increased the number of training, but the quality of the training provision must be considered such as the instructors who provide training and also the appropriate training content that suitable with the needs of employees. this is done because the training has an influence on the work discipline where training is able to provide benefits to employees who were getting more trained in enhance the capabilities, skills, work responsibility, and discipline at work. so the impact on the employees’ performance will increase. puspiptek also needs to improve work discipline through controlling and supervision of the employees. employees still have not been able to comply with work rules and to work not in accordance with the ethics of the company. the attendance list of working employees should be considered so that the tardiness in work hours can be minimized and pay attention to the work that must be completed on time. this is done to ensure employees are able to follow and abide the rules at work to make them more disciplined. references awang, a. h., ismail, r., & noor, z. m. (2010). training impact on employee’s job performance: a self evaluation. ekonomska istrazivanja/economic research, 23(4), 78-90. retrieved from http://search.proquest.com. bangun, w. (2012). manajemen sumber daya manusia. jakarta: erlangga. byars, l., & rue, l. (2006). human resource management. 8th edition. usa: mcgraw-hill. hameed, a., ramzan, m., hafiz, m. k. z., zubair, h. m. k., ali, g., & arslan, m. (2014). impact of compensation on employee performance (empirical evidence from banking sector of pakistan). international journal of business and social science, 5(2), 302-309. retrieved from http://search.proquest.com. mathis, r., & jackson, j. (2006). human resource management. 10th edition. usa: thomson southwestern. 8   journal the winners, vol. 17 no. 1, march 2016: 1-8  mathis, r., & jackson, j. (2010). human resource management. thirteenth edition. south western: cengage learning. mondy, r., & mondy, j. (2014). human resource management. thirteenth edition. london: pearson. robbins, s., & coulter, m. (2005). management. pearson prentice hall. sultana, a., irum, s., ahmed, k., & mehmood, n. (2012). impact of training on employee performance: a study of telecommunication sector in pakistan. interdisciplinary journal of contemporary research in business, 4(6), 646-661. retrieved from http://search.proquest.com. pengaruh company size..... (sunaryo) 61 pengaruh company size, company ages, profitability, dan leverage terhadap csr disclosures pada kelompok perusahaan properti dan real estate yang terdaftar di bei sunaryo accounting departement, faculty of economic and communication, binus univesity jln. kh. syahdan no. 9. palmerah, jakarta barat 11480 sunaryo@binus.ac.id abstract the primary objective of this research is to learn the effect of company size, company ages, profitability, and leverage variables on corporate social responsibility disclosures variable, either simultaneously or partially. secondary data were collected by purposive sampling of property and real estate company groups listed in idx and the preceding scientific journals. research used simple regression to test the hypothetical simultaneously. the results of this research describe that company size, company ages, and leverage variables do not have significant effect on the corporate social responsibility disclosures variable; only profitability variable has significant effect on the corporate social responsibility disclosures variable. it is recommended that the topic of this research can be continued with agribusiness and mining company groups, or adding new independence variables. keywords: economic variable factors, csrd, property and real estate company groups, idx abstrak tujuan utama penelitian ini adalah untuk memahami pengaruh variabel company size, company ages, profitability, dan leverage terhadap variabel corporate social responsibility disclosures baik secara simultan maupun parsial. data sekunder dikumpulkan dengan cara purposive sampling dari kelompok perusahaan properti dan real estate yang terdaftar di bei serta artikel jurnal ilmiah dari para peneliti sebelumnya. penelitian menggunakan regresi sederhana untuk menguji hipotesis simultan. hasil penelitian menjelaskan bahwa variabel company size, company ages, dan leverage secara signifikan tidak berpengaruh terhadap variabel corporate social responsibility disclosures; hanya variabel profitability saja secara signifikan berpengaruh terhadap variabel corporate social responsility disclosures. disarankan bahwa penelitian ini dapat dilanjutkan dengan kelompok perusahaan agribisnis dan pertambangan, atau dengan menambah variabel independen baru. kata kunci: faktor-faktor variabel ekonomi, ptjsp, kelompok perusahaan properti dan real estate, bei 62 journal the winners, vol. 14 no. 1, maret 2013: 61-69 pendahuluan banyak perusahaan telah melakukan kegiatan operasionalnya tanpa memperhatikan dampak negatip yang ditimbulkan dari kegiatannya seperti dampak buruk yang ditimbulkan oleh limbah industri dari kegiatan perusahaan terhadap lingkungan dimana perusahaan beroperasi. menurut febrina dan suaryana (2011), munculnya teori csr (corporate social responsibilty) disebabkan oleh adanya tanggung jawab perusahaan atas dampak buruk lingkungan dari limbah industry yang dihasilkan oleh perusahaan bersangkutan. corporate social responsibility merupakan tanggung jawab moral suatu perusahaan kepada para stakeholders terutama kepada komunitas atau masyarakat di sekitar wilayah atau lingkungan kerja dan operasionalnya. parameter keberhasilan suatu perusahaan dari pandangan csr adalah perusahaan dapat mengedepankan prinsip moral dan etika yakni mencapai hasil terbaik tanpa merugikan kelompok masyarakat lain. untuk mencapai keberhasilan tersebut, perusahaan harus dapat membangun hubungan yang harmonis dengan para stakeholders terutama dengan masyarakat dan lingkungan di mana perusahaan beroperasi. contoh dampak buruk lingkungan adalah seperti yang dilakukan oleh pt newmont dan pt lapindo. di indonesia kewajiban pengungkapan tanggung jawab sosial (corporate social responsibility disclosures) diatur dalam uu pt no. 40 tahun 2007 pasal 74 ayat 1 yang disahkan oleh dpr menyatakan bahwa pt (perseroan terbatas) yang menjalankan usaha di bidang dan atau bersangkutan dengan sumber daya alam wajib menjalankan tanggung jawab sosial dan lingkungan. uu no. 25 tahun 2007 pasal 15 tentang penanaman modal menyatakan bahwa setiap penanam modal berkewajiban melaksanakan tanggung jawab sosial perusahaan dan dalam pasal 34 telah diatur sanksisanksi bagi badan usaha atau usaha perorangan yang mengabaikan tanggung jawab sosial perusahaan. walaupun sudah diatur dalam undang-undang, banyak perusahaan tidak atau kurang mematuhi dalam menjalankan program-program tanggung jawab sosial perusahaan karena hal tersebut berkaitan dengan pengeluaran biaya berjumlah relatif besar, sehingga mengurangi besar laba bersih perusahaan. pengungkapan tanggung jawab sosial perusahaan merupakan hal penting sehingga membuat banyak peneliti melakukan penelitian dan diskusi mengenai faktor-faktor yang mempengaruhi pengungkapan tanggung jawab sosial bagi perusahaan. menurut sembiring (2005) serta untari (2010), menyatakan bahwa ukuran perusahaan (company size) secara signifikan berpengaruh terhadap pengungkapan tanggung jawab sosial perusahaan (csrd=corporate social responsibility disclosures), sedangkan menurut rahman dan widyasari (2008) company size secara signifikan tidak berpengaruh terhadap corporate social responsibility disclosures. menurut untari (2010) profitability secara signifikan berpengaruh terhadap csrd, sedangkan menurut rahman dan widyasari (2008) secara signifikan profitabilitas tidak berpengaruh terhadap csrd. menurut untari (2010) umur perusahaan (company ages) secara signifikan berpengaruh terhadap csrd, sedangkan menurut utami dan rahmawati (2010) company ages secara signifikan tidak berpengaruh terhadap csrd. menurut sembiring (2005) leverage secara signifikan berpengaruh terhadap csrd, sedangkan menurut untari (2010) serta rahman dan widyasari (2008) menyatakan bahwa leverage secara signifikan tidak berpengaruh terhadap csrd. perkembangan industri property dan real estate sangat menarik untuk diteliti. industri ini merupakan salah satu industri yang sedang berkembang pesat di indonesia yang mengikuti perkembangan pembangunan perumahan, apartemen, mall, gedung perkantoran, dan lain-lain yang dirancang dan disesuaikan menurut kebutuhan masyarakat yang makin modern. atas dasar perbedaan dari hasil penelitian sebelumnya serta perkembangan bisnis properti dan real estate di indonesia, maka penelitian ini dilakukan. adapun tujuan dan manfaat penelitian ini adalah untuk mengetahui apakah secara signifikan baik individual maupun simultan, variabel company size, profitability, company ages, serta leverage berpengaruh terhadap variabel corporate social responsibility disclosures. pengaruh company size..... (sunaryo) 63 tinjauan pustaka corporate social responsibilty (tanggung jawab sosial perusahaan) memiliki beberapa pengertian, menurut bertens (2000), tanggung jawan sosial perusahaan merupakan tanggung jawab moral perusahaan terhadap masyarakat. menurut untari (2010), tanggung jawab sosial perusahaan merupakan upaya perusahaan untuk meningkatkan kepedulian terhadap masalah sosial dan lingkungan dalam kegiatan usaha dan bagaimana perusahaan berinteraksi dengan stakeholders yang dilakukan secara sukarela. sedangkan menurut hackson dan milne (1996), tanggung jawab sosial perusahaan merupakan proses pengkomunikasian dampak sosial dan lingkungan dari kegiatan ekonomi suatu organisasi (perusahaan) terhadap kelompok khusus yang berkepentingan dan terhadap masyarakat secara keseluruhan. berdasarkan pengertian-pengertian tersebut dapat disimpulkan bahwa tanggung jawab sosial perusahaan merupakan tanggung jawab moral dan kepedulian perusahaan secara sukarela terhadap masalah lingkungan dan sosial melalui praktek bisnis. konsep tanggung jawab sosial perusahaan (corporate social responsibility) memadukan tiga fungsi perusahaan secara seimbang yakni (1) fungsi ekonomis merupakan fungsi tradisional perusahaan berupa perolehan laba perusahaan untuk kepentingan pemilik perusahaan. (2) fungsi sosial merupakan fungsi perusahaan untuk pemberdayaan manusia yaitu para pemangku kepentingan baik kepentingan primer maupun kepentingan sekunder serta berperan menjaga keadilan dalam berbagi manfaat serta menanggung beban yang ditimbulkan dari aktivitas perusahaan. (3) fungsi alamiah merupakan fungsi perusahaan berperan dalam menjaga kelestarian alam. dalam setiap perusahaan, terdapat pandangan atau pendapat yang menentang dan mendukung csr (tanggung jawab soasial perusahaan). alasan yang menentang csr adalah, pertama, erusahaan merupakan lembaga ekonomi dengan tujuan utamanya mencari keuntungan, bukan merupakan lembaga sosial. kedua, perhatian manajemen perusahaan terpecah dan akan membingungkan bila perusahaan dibebani banyak tujuan. ketiga, biaya kegiatan soasial akan meningkatkan biaya produk yang akan ditambahkan pada harga jual produk yang akan merugikan masyarakat dan konsumen. keempat, tidak semua perusahaan mempunyai tenaga terampil dalam menjalankan kegiatan sosial. adapun alasan yang mendukung csr adalah (a) kesadaran meningkat dari masyarakat makin kritis terhadap dampak negatif dari tindakan perusahaan yang merusak alam serta merugikan masyarakat sekitarnya; (b) sumber daya alam makin terbatas; (c) menciptakan lingkungan sosial makin baik; (d) pertimbangan lebih adil dalam memikul tanggung jawab dan kekuasaan untuk memikul baban sosial dan lingkungan antara pemerintah, perusahaan, dan masyarakat; (e) menciptakan keuntungan jangka panjang. sembiring (2005) menyatakan bahwa company size (ukuran perusahaan) merupakan variabel penduga yang banyak digunakan untuk menjelaskan pengungkapan dalam laporan keuangan perusahaan tahunan. hal ini dikaitkan dengan teori agensi yang menerangkan bahwa perusahaan besar memiliki biaya keagenan lebih besar dibandingkan dengan perusahaan kecil digunakan untuk mengungkapkan informasi yang lebih luas. perusahaan besar juga merupakan emiten yang banyak disoroti, pengungkapan lebih besar untuk mengurangi biaya politis sebagai wujud tanggung jawab sosial perusahaan. menurut untari (2010), pada dasarnya ukuran perusahaan didasarkan pada total aset. ukuran perusahaan dibagi menjadi tiga kategori seperti perusahaan besar (large firm), perusahaan menengah (medium firm), dan perusahaan kecil (small firm), dan secara signifikan company size berpengaruh terhadap corporate social responsibility disclosures sama dengan hasil penelitian herman (2009), rahmasawi dkk (2007), serta hackson dan milne (1996) dengan alasan bahwa perusahaan yang lebih besar tidak akan terlepas dari tekanan, aktivitas operasional yang lebih besar, pengaruh masyarakat dan pemegang saham untuk memperhatikan program-program sosial sebagai pengungkapan tanggung jawab sosial. sedangkan hasil penelitian rahman dan widyasari (2008) company size secara signifikan tidak berpengaruh terhadap corporate social responsibility disclosures. 64 journal the winners, vol. 14 no. 1, maret 2013: 61-69 leverage (hutang) merupakan salah satu komponen penting dalam struktur modal perusahaan karena hutang merupakan salah satu sumber pendanaan namun hutang dalam jumlah besar justru dapat berakibat pada memburuknya kondisi keuangan perusahaan. dengan demikian para investor perlu mempelajari rasio leverage yang dimiliki oleh setiap perusahaan. belkaoui dan karpik (1989) dalam sembiring (2005) menyatakan bahwa informasi social akan mengikuti suatu pengeluaran untuk pengungkapan penurunan pendapatan. sesuai dengan teori agensi manajemen perusahaan dengan tingkat leverage tinggi akan mengurangi pengungkapan tanggung jawab sosial yang dibuatnya agar tidak menjadi sorotan dari para debt holders. salah satu rasio leverage yang digunakan seorang investor dalam menemukan solvabilitas suatu perusahaan untuk menjamin keamanan investasi yang dilakukannya agar tidak merugi adalah debt to equity ratio (der). gipson (2009) menyatakan: “debt to equity ratio is another computation that is used to determine the entitty’s long term debt paying ability. this computation compares the total debt with the total shareholder’s equity. the debt equity ratio helps determine how well creditors are protected in case of insolvency of the company. from the perspective of long term debt paying ability, the lower this ratio and is the better the company’s debt position. debt to equity raio is total liabilities divided by shareholders’equity.” menurut simanjutak dan widiastuti (2004) variabel leverage secara signifikan berpengaruh terhadap pengungkapan tanggung jawab sosial perusahaan. menurut sembiring (2005) serta untari (2010) variabel leverage secara signifikan tidak berpengaruh terhadap pengungkapan tanggung jawab sosial perusahaan. penelitian sembiring dilakukan pada perusahaan pada umumnya sedangkan untari khusus dilakukan pada kelompok perusahaan barang konsumsi. company ages (umur perusahaan) merupakan salah satu faktor yang mempengaruhi kinerja perusahaan dalam mengungkapkan tanggung jawab sosialnya. umur perusahaan dapat menunjukkan kemampuan dalam mengatasi kesulitan dan hambatan yang dapat mengancam kehidupan perusahaan dan menunjukkan kemampuan perusahaan mengambil kesempatan dalam lingkungannya untuk mengembangkan usaha, serta umur perusahaan dapat menunjukkan kemampuan dalam keunggulan berkompetisi. dengan demikian makin lama perusahaan berdiri menunjukkan makin lama eksistensinya dalam lingkungan dan makin bisa meningkatkan kepercayaan investor dan kreditor. menurut untari (2010) variabel umur perusahaan secara signifikan berpengaruh terhadap pengungkapan tanggung jawab sosial perusahaan, sedangkan menurut utami dan rahmawati (2010) variabel umur perusahaan secara signifikan tidak berpengaruh terhadap pengungkapan tanggung jawab sosial perusahaan. profitability (profitabilitas) menunjukkan keberhasilan perusahaan dalam menghasilkan keuntungan perusahaan, hal ini dapat mendorong manajer memberikan kompensasi manajemen serta meyakinkan para investor dan kreditor akan perkembangan profitabilitas perusahaan sebagai dasar dalam pengambilan keputusan investasi dan pemberian pinjaman kepada perusahaan. besarnya profitability dalam penelitian ini diukur dengan return on assets, return on assets adalah net income dibagi dengan average total assets. menurut simanjutak dan widiastuti (2004) dan hackson dan milne (1996) variabel profitabilitas secara signifikan berpengaruh terhadap pengungkapan tanggung jawab social perusahaan, sedangkan menurut sembiring (2005) dan darwis (2009) variabel profitabilitas secara signifikan tidak berpengaruh terhadap pengungkapan tanggung jawab social perusahaan. metode penelitian ini menggunakan data sekunder berupa laporan keuangan tahunan kelompok perusahaan property dan real estate yang terdaftar di bursa efek indonesia untuk tahun 2009 sampai dengan 2011 serta hasil-hasil penelitian dari para peneliti sebelumnya yang telah dimuat di jurnal pengaruh company size..... (sunaryo) 65 jurnal ilmiah. diambil selama tiga tahun yakni tahun 2009, 2010, dan 2011 karena perusahaan real estate di indonesia yang terdaftar di bursa efek indonesia jumlahnya sedikit serta untuk memenuhi jumlah minimal data sampel yang diteliti yaitu 30. adapun banyaknya sampel yang dipilih sebanyak 14 perusahaan dengan kriteria perhitungan jumlah perusahaan property dan real estate yang terdapat di bursa efek indonesia sebanyak 48 buah, dikurangi dengan jumlah perusahaan real estate yang tidak menerbitkan laporan keuangan tahunan secara berturut-turut dari tahun 2009-2011 sebanyak 16 buah, dikurangi jumlah perusahaan yang tidak mengungkapkan informasi tanggung jawab sosial pada laporan tahunan secara berturut-turut dari tahun 2009-2011 sebanyak 14 buah dan dikurangi lagi jumlah perusahaan yang pernah mengalami kerugian dalam kurun waktu tahun 2009-2011. metode pengambilan sampel yang digunakan adalah purposive sampling dengan tujuan untuk mendapatkan sampel yang representatif sesuai dengan kriteria yang dikehendaki seperti: (a) perusahaan telah menerbitkan laporan keuangan tahunan secara berturut-turut dari tahun 2009-2011. (b). perusahaan telah menyajikan laporan pengungkapan tanggung jawab sosial dalam laporan tahunannya secara berturut-turut dari tahun 2009-2011 (c). perusahaan tidak mengalami atau menderita kerugian selama tahun 2009-2011. variabel-variabel yang digunakan adalah untuk variabel bebas (independent) seperti company size (cs), leverage, company ages (ca), dan profitability, sedangkan variabel terikat (dependent) adalah corporate social responsibility disclosures (csrd). variabel-variabel ini dipilih karena ada perbedaan hasil penelitian antara para peneliti sebelumnya, yaitu hasil penelitian menjelaskan bahwa variabel-variabel bebas seperti company size (cs), leverage, company ages (ca), dan profitabilty secara signifikan dan parsial berpengaruh terhadap corporate social responsibilty disclosures (csrd). ada pula yang menjelaskan secara signifikan tidak berpengaruh terhadap corporate social responsibility disclosures (csrd). uji hipotesis yang digunakan adalah uji f (simultan) dengan regresi sederhana (y = a+b1x1+b2x2+b3x3+b4x4+e), di mana y (variabel terikat) = corporate social responsibility disclosures, sedangkan x (variabel bebas) yang terdiri dari x1 (company size), x2 (company ages), x3 (profitability), dan x4 (leverage), dan uji t (parsial) dengan model hipotesis penelitian sebagai berikut: jika hasil signifikansinya lebih kecil dari 0,05 berarti signifikan dan jika lebih besar dari 0,05 berarti tidak signifikan. ha1: secara bersama-sama terdapat pengaruh signifikan antara variabel company size, leverage, company ages, dan profitability tehadap variabel corporate social responsibility disclosures. h01: secara bersama-sama tidak terdapat pengaruh signifikan antara variabel company size, leverage, company ages, dan profitability terhadap variabel corporate social responsibility disclosures. ha2: terdapat pengaruh signifikan antara variabel company size dengan variabel corporate social responsibility disclosures. h02: tidak terdapat pengaruh signifikan antara variabel company size dengan variabel corporate social responsibility disclosures. ha3: terdapat pengaruh signifikan antara variabel company ages dengan variabel corporate social responsibility disclosures. h03: tidak terdapat pengaruh signifikan antara variabel company ages dengan variabel corporate social responsibility disclosures. 66 journal the winners, vol. 14 no. 1, maret 2013: 61-69 ha4: terdapat pengaruh signifikan antara variabel profitability dengan variabel corporate social responsibility disclosures. ho4: tidak terdapat pengaruh signifikan antara variabel profitability dengan variabel corporate social responsibity disclosures. ha5: terdapat pengaruh signifikan antara variabel leverage dengan variabel corporate social responsibility disclosures. h05: tidak terdapat pengaruh signifikan antara variabel leverage dengan variabel corporate social responsibility disclosures. hasil dan pembahasan berdasarkan data pada tabel 1 (kolmogorov smirnov test), variabel bebas seperti company size, leverage, company ages, dan profitability serta variabel terikat seperti corporate social responsibility disclosures terdistribusi secara normal karena asymp. sig. lebih besar dari 0.05 yaitu sebesar 0,837. tabel 1 uji normalitas (one sample kolmogorov smirnov test) unstandardized reidual n normal parameter a,b. mean standard deviation most extreme differences absolute positive negative kolmogorov smirnov z asymp. siq. (2 –tailed) 42 .000000 .060596 .096 .096 .071 .620 .837 a. test disatributin is normal b. calculated from data berdasarkan data pada tabel 2, uji f (anova) mempunyai signifikan sebesar 0,012 lebih kecil dari 0,05, artinya ha1 diterima dan h01 ditolak atau signifikan. berarti, model regresi sederhana untuk variabel bebas (company size, leverage, company ages, dan profitability) secara bersama-sama dan signifikan berpengaruh terhadap variabel terikat (corporate social responsibility disclosures) dengan tingkat keyakinan sebesar 95%. dengan kata lain model regresinya adalah fit (layak). tabel 2 uji f (anova) model sum of squares df mean squares f siq. regression residual total .061 .151 .212 4 37 41 .015 .004 3.751 .012 a. predictors: (constant, company size, leverage, company ages, profitability) b. dependent variable: corporate social responsibility disclosures. pengaruh company size..... (sunaryo) 67 berdasarkan data pada tabel 3, uji t (coefficient regression) menunjukkan bahwa signifikansi company size sebesar 0,090 lebih besar dari 0,05, ha2 ditolak atau h02 diterima. berarti variabel company size secara signifikan tidak berpengaruh terhadap variabel corporate social responsibility disclosures. signifikansi company ages sebesar 0,125 lebih besar dari 0,05, ha3 ditolak atau h03 diterima. berarti variabel company ages secara signifikan tidak berpengaruh terhadap variabel corporate social responsibility disclosures. signifikansi variabel profitability sebesar sebesar 0,010 lebih kecil dari 0,05, ha4 diterima dan h04 ditolak. berarti variabel profitability secara signifikan berpengaruh terhadap variabel corporate social responsibility disclosures. signifikansi variabel leverage sebesar 0,275 lebih besar dari 0,05, ha5 ditolak atau h05 diterima. berarti variabel leverage secara signifikan tidak berpengaruh terhadap variabel corporate social responsibility disclosures. tabel 3 uji t (coefficient regreesion) model unstandardized coeff. standadized coeff. b std. error beta t siq. (constant) company size (cs) company ages (ca) profitability(p) leverage (lev) -.230 .034 -.002 1.078 .019 .259 .020 .001 .395 .017 .257 -.219 .384 -.164 .888 1.739 -1.568 2.729 -1.107 .380 .090 .125 .010 .275 dependent variable: corporate social responsibility disclosures persamaan regresi sederhana: y = -0,230 + 0,034 cs – 0,002 ca + 1,078 p + 0,019 lev. tabel 4 data sampel untuk 14 perusahaan property dan real estate tahun 2009-2011 no kode company size (logaritma total assets) company ages (years) profitability (roa) leverage (der) tahun 2009 01 ctrp 12,5625 15 0,0241 0,0632 02 dild 12,3304 42 0,0181 0,8029 03 gmtd 11,4852 18 0,0441 19247 04 lpck 12,1906 22 0,0166 2,1117 05 lpkr 13,0838 19 0,0360 1,2930 06 smra 12,6494 34 0,0377 1,860 07 asri 12,5514 16 0,0265 0,8397 08 bsde 12,9701 25 0,0678 0,7073 09 ctra 12,9322 28 0,0266 0,2288 10 ctrs 12,3558 20 0,0272 0,418 11 cowl 11,3170 28 0.0660 0,5812 12 lami 11,7857 41 0,0275 2,0492 13 pwon 12,6372 27 0,0359 1,5437 14 gpra 12,1216 22 0,0226 1,2990 no kode tahun 2010 01 ctrp 12,5825 16 0,0443 0,0730 02 dild 12,6627 43 0,0880 0,2691 03 gmtd 11,5551 19 0,0768 1,998 04 lpck 12,2227 23 0,0391 1,9623 05 lpkr 13,2008 20 0,0368 0.9751 06 smra 12,7881 35 0,0382 1,8457 07 asri 12,6616 17 0,,0634 1,0700 08 bsde 13,0680 26 0,0642 0,5771 09 ctra 12,9721 29 0,0415 0,2932 10 ctrs 12,4165 21 0,0369 0,5475 11 cowl 11,4264 29 0,0315 1,0455 12 lami 11,7814 42 0,0475 1,6411 13 pwon 12,6927 28 0,0642 1,4319 14 gpra 12,0736 23 0,0278 0,946 68 journal the winners, vol. 14 no. 1, maret 2013: 61-69 no kode tahun 2011 01 ctrp 12,6349 17 0,0391 0,1962 02 dild 12,7552 44 0,0259 0,4982 03 gmtd 11,6877 20 0,1008 1,8090 04 lpck 12,3100 24 0,1262 1,4858 05 lpkr 13,2615 21 0,0446 0,940 06 smra 129084 36 0,0480 2,696 07 asri 12,7787 18 0,1003 1,1557 08 bsde 13,1068 27 0,0791 0,548 09 ctra 130616 30 0,0429 0,5070 10 ctrs 125477 22 0,0565 0,8107 11 cowil 115862 30 0,0864 1,3543 12 lami 11,7723 43 0,092 1,065 13 pwon 12,7593 29 0,0659 1,4207 14 gpra 12,0921 24 0,0363 0,8973 simpulan sebanyak 14 sampel diambil secara purposive sampling dari 48 perusahaan property dan real estate yang terdaftar di bursa efek indonesia untuk tahun 2009-2011. variabel bebas (independent) nya adalah company size, company ages, profitability, dan leverage, sedangkan variabel terikatnya adalah corporate social responsibility disclosures. uji hipotesis simultan memenuhi syarat regresi sederhana, sedangkan untuk uji hipotesis parsialnya adalah variabel company size secara signifikan tidak berpengaruh terhadap variabel corporate social responsibility. hasil penelitian ini sama dengan hasil penelitian dari rahman dan widyasari (2008) namun berbeda dengan hasil penelitian dari untari (2010), rahmawati, dkk (2007), serta hackson dan milne (1996) yang menjelaskan bahwa company size secara signifikan berpengaruh terhadap corporate social responsibility disclosures. untuk variabel company ages secara signifikan tidak berpengaruh terhadap variabel corporate social responsibility disclosures. hasil penelitian ini sama dengan hasil penelitian dari utami dan rahmawati (2010). akan tetapi, hasil ini berbeda dengan hasil penelitian dari untari (2010) yang menjelaskan bahwa variabel company ages secara signifikan berpengaruh terhadap variabel corporate social responsibility disclosures. untuk variabel profitability secara signifikan berpengaruh terhadap variabel corporate social responsibility disclosures. hasil penelitian ini sama dengan hasil penelitian simanjuntak dan widiastuti (2004) serta hackson dan milne (1996). hasil ini berbeda dengan hasil penelitian dari darwis (2009) serta sembiring (2005) yang menjelaskan bahwa variabel profitability secara signifikan tidak berpengaruh terhadap variabel corporate social responsibility disclosures. untuk variabel leverage secara signifikan tidak berpengaruh terhadap variabel corporate social responsibility disclosures. hasil penelitian ini sama dengan hasil penelitian dari sembiring (2005) serta untari (2010) namun berbeda dengan hasil penelitian dari simanjutak dan widiastuti (2004) yang menjelaskan bahwa variabel leverage secara signifikan berpengaruh terhadap variabel corporate social responsibility disclosures. perbedaan hasil penelitian tersebut diutamakan karena perbedaan kelompok industri yang diteliti, di mana untuk kelompok industri property dan real estate memiliki ciri-ciri khusus yang berbeda dengan kelompok industri lainnya khususnya berkaitan dengan proses produksi, penanganan bahan, dan penanganan tenaga kerja langsung serta limbah industri. penelitian ini dapat dilanjutkan dengan menggunakan kelompok industri lain seperti agribisnis, pertambangan, dan kelompok industri lain serta menambah varibel bebas yang belum diteliti dalam penelitian ini. pengaruh company size..... (sunaryo) 69 daftar pustaka bertens, k. (2000). pengantar etika bisnis. yogyakarta: karnisius. darwis, h. (2009). ukuran perusahaan, profitabilitas, dan financial leverage pengaruhnya terhadap pengungkapan tanggung jawab sosial perusahaan high profile di bei. jurnal keuangan dan perbankan, 13(1), 52–61. febrina & suaryana, i. g. n. a. (2011). faktor-faktor yang mempengaruhi kebijakan pengungkapan tanggung jawab sosial dan lingkungan pada perusahaan manufaktur di bursa efek indonesia. simposium nasional akuntansi xiv aceh. gipson, c. h. (2009). financial reporting and analysis: using financial accounting information. 10th edition. united stated of america: thomas higher education. hackson, d. & milne, m. j. (1996). some determinand of social and evironmental disclosures in new zealand. accounting, auditing, and accountibility journal, 9(1), 77–108. rahman, a. & widyasari, k. n. (2008). the analysis of company characteristics influence toward csr disclosure. empirical evidence of manufacturing companies lited in jsx. jaai, 12(1), 25–35. rahmawati, i., mutmainah, n. s., & haryanto. (2007). analisis pengaruh ukuran perusahaan, likuiditas, leverage, dan profitabilitas terhadap mandatory disclosures: studi empiris pada perusahaan manufaktur yang tedaftar di bursa efek indonesia. jurnal maksi, 7, 87–103. sembiring, e. r. (2005). karakteristik perusahaan dan pengungkapan tanggung jawab sosial. studi empiris pada perusahaan yang terdaftar di bursa efek jakarta. simposium nasional akuntansi viii. solo. simanjutak, b. h. & widiastuti, l. (2004). faktor-faktor yang mempengaruhi kelengkapan laporan keuangan pada perusahaan manufaktur yang terdaftar di bursa efek jakarta. jurnal riset akuntansi indonesia, 7, 351–366. untari, l. (2010). effect on company characteristics corporate social responsibility disclosures in corporate anual report of consumption listed at idx. universitas gunadharma. utami, i. d. & ratmawati. (2010). pengaruh ukuran perusahaan, dewan komisaris, kepemilikan institusional, kepemilikan asing, dan umur perusahaan terhadap pengungkapan tanggung jawab sosial perusahaan pada perusahaan property dan real estate yang terdaftar di bursa efek indonesia. simposium nasional akuntansi xiii. purwokerto. comparison of skin moisturizer..... (yossy hanna garlina) 115 comparison of skin moisturizer: consumer-based brand equity (cbbe) factors in clusters based on consumer ethnocentrism yossy hanna garlina pt mustika ratu, tbk. jln. raya bogor km 26,4, ciracas, jakarta 13740 yossyhannagarlina@gmail.com abstract this research aims to analyze relevant factors contributing to the four dimensions of consumer-based brand equity in skin moisturizer industry. it is then followed by the clustering of female consumers of skin moisturizer based on ethnocentrism and differentiating each cluster’s consumer-based brand equity dimensions towards a domestic skin moisturizer brand mustika ratu, skin moisturizer. research used descriptive survey method analysis. primary data was obtained through questionnaire distribution to 70 female respondents for factor analysis and 120 female respondents for cluster analysis and one way analysis of variance (anova). this research employed factor analysis to obtain relevant factors contributing to the five dimensions of consumerbased brand equity in skin moisturizer industry. cluster analysis and one way analysis of variance (anova) were to see the difference of consumer-based brand equity between highly ethnocentric consumer and low ethnocentric consumer towards the same skin moisturizer domestic brand, mustika ratu skin moisturizer. research found in all individual dimension analysis, all variable means and individual means show distinct difference between the high ethnocentric consumer and the low ethnocentric consumer. the low ethnocentric consumer cluster tends to be lower in mean score of brand loyalty, perceived quality, brand awareness, brand association, and overall brand equity than the high ethnocentric consumer cluster. research concludes consumer ethnocentrism is positively correlated with preferences towards domestic products and negatively correlated with foreign-made product preference. it is, then, highly ethnocentric consumers have positive perception towards domestic product. keywords: exploratory factor analysis, k-means cluster, one-way anova, skin moisturizer abstrak penelitian bertujuan untuk menganalisis faktor-faktor relevan yang berkontribusi terhadap empat dimensi ekuitas merek berbasis konsumen dalam industri pelembab kulit. kemudian, penelitian mengelompokkan konsumen pelembab kulit (wanita) berdasarkan etnosentrisme dan membedakan dimensi ekuitas merek berbasis konsumen setiap rumpun terhadap merek pelembab kulit dalam negeri, mustika ratu. penelitian menggunakan metode analisis survei deskriptif. data primer diperoleh melalui penyebaran kuesioner kepada 70 responden perempuan untuk analisis faktor dan 120 responden perempuan untuk analisis rumpun dan analisis varians satu jalur (anova). penelitian menggunakan analisis faktor untuk memperoleh faktor relevan yang berkontribusi terhadap lima dimensi ekuitas merek berbasis konsumen dalam industri pelembab kulit. analisis rumpun dan analisis varians satu jalur (anova) adalah untuk melihat perbedaan ekuitas merek berbasis konsumen antara konsumen dengan etnosentrisme tinggi dan konsumen dengan etnosentrisme rendah terhadap merek pelembab kulit dalam negeri yang sama, mustika ratu. penelitian menemukan pada semua analisis dimensi, semua rata-rata variabel dan individual menunjukkan perbedaan jelas antara konsumen etnosentris tinggi dan konsumen etnosentris rendah. skor brand loyalty, perceived quality, brand awareness, brand association, dan overall brand equity konsumen etnosentris rendah cenderung lebih rendah daripada konsumen etnosentris tinggi. penelitian menyimpulkan etnosentrisme konsumen berkorelasi positif dengan preferensi terhadap produk dalam negeri dan berkorelasi negatif dengan preferensi produk buatan luar negeri. dengan kata lain, konsumen dengan etnosentrisme tinggi memiliki persepsi positif terhadap produk domestik. kata kunci: analisis faktor eksplorasi, k-means cluster, anova satu jalur, pelembab kulit mailto:yossyhannagarlina@gmail.com 116 journal the winners, vol. 15 no. 2, september 2014: 115-122 introduction in the era of globalization, consumer ethnocentrism is deemed as a very strategic tool to face the global competition. this is especially applicable to domestic companies as they are the ones facing the steep competition from foreign brands. the competition between local and foreign brands has been even steeper in 2010 and above, as the price difference has narrowed and the difference in quality has widened. as proven by a survey by jakarta post, indonesian women inherently prefer "value for money", “quality brand", "proven benefits", "gentleness" and most importantly, "made in indonesia". this survey proved that indonesian women indeed love indonesian made products. however, a different study conducted by jakarta post to verify this shows a different result. local brands only hold merely less than 40% of the market share in indonesian face and body care industry, with the top 3 players sari ayu, mustika ratu, and seger holding only 23%. this statistic concludes that consumer attachment to local brands in general might or might not differentiate a local brand’s brand equity. thus, this study focuses on analyzing whether the attachment to localness really influences the brand equity of local brands by looking at the difference between customer-based brand equity of a local body moisturizer brand in the minds of two different groups, which are the highly ethnocentric one and the lowly ethnocentric one. the two groups come from the same pool for ease of investigation. this study adapts bandara, et al (2012)’s study that investigated the relationship between consumer ethnocentrism and attitude towards foreign beer brands. the local brand under investigation in this study is a growing company with vision and mission-oriented operation, pt mustikaratutbk. based on psychological perspective, brand is viewed as a node in memory that is related to various different associations and with varied power. consumers understand brand as a category that is always associated with specific attributes (aryanto et al., 2009). there are two main models of brand equity in modern psychology. the first model is conceptualized by aaker (1991, 1995), aaker and joachimsthaler (2000) and the other model came from keller (1993, 2003). in aaker’s model brand equity is formulated from managerial and corporate strategic point of view although the main basis is consumer behavior. aaker outlined brand asset contributing to the creation of brand equity in four dimension: brand awareness, perceived quality, brand associations and brand loyalty. consumer-based brand equity (cbbe), as a model of brand equity with the core assumption of this model that the power of a brand lies on what is learnt, felt, seen, and heard about the brand by consumers as a result of the experience all the time (keller, 2003). based on this model, a brand is said to have positive consumer based brand equity if the consumer reacted more positively towards a product and how the product is marketed when the brand is identified, compared with when the product’s brand is not identified. key creation of brand equity is brand knowledge, brand awareness, and brand image. brand equity is created when consumer has high awareness and familiarity towards a brand and has strong, positive, and unique brand association in memory. many studies have been conducted regarding consumers’ responses towards brand such as studies about gym membership loyalty and tourism (aryanto et.al, 2003, 2012, 2012; yeong et al., 2007) even in the planning stages (aryanto et al., 2012). affecting consumer perception towards a brand, consumer ethnocentrism has emerged from the sociological phenomenon called “ethnocentrism” introduced by william g. sumner in 1906. according to sumner (1906), ethnocentrism is the “technical name for the view of things in which one’s own group is the centre of everything and all others are scaled and rated with reference to it. in other words, ethnocentrism is a tendency of people to believe that their cultural or ethnic group is important and the other groups are evaluated primarily from the perspective of one’s own culture.” it is further elaborated by adorno, frenkel-brunswik, levinson, and sanford (1950) as “ethnic centeredness” and emphasizes this comparison of skin moisturizer..... (yossy hanna garlina) 117 phenomenon as the rigidity in accepting the culturally “alike”, while rejecting the culturally “unlike”. according to those definitions, a strong ethnocentric person may judge other groups in relation to the cultural dimensions of language, behavior, customs and religion of his or her own group. moreover, this study addresses this issue by investigating the influence of consumer ethnocentrism on consumer-based brand equity of a domestic brand in the mind of indonesian youth females who are exposed to strong international environment. this research has purposes to investigate the factors relevant for the investigation of consumer-based brand equity of skin moisturizer according in indonesian female youth, to cluster female youth skin moisturizer consumers based on consumer ethnocentrism, and to investigate the differences between consumer-based brand equity of local skin moisturizer brand of highly ethnocentric and low ethnocentric indonesian female youth segment. research methods problem solving steps in this research were divided into two main steps. the first step was the pilot study in which factor analysis is employed to analyze relevant factors for skin moisturizer brand consumer-based brand equity analysis. the second step was the core study in which cluster analysis and one-way anova are employed to cluster female respondents into two clusters based on their degree of ethnocentrism then to compare and contrast their respective consumer-based brand equity towards a named domestic skin moisturizer brand, i.e. mustika ratu skin moisturizer. pilot study was conducted by distributing a self-administered questionnaire with 5 point likert scale. the questionnaire contained 51 items of measurement of brand loyalty, brand awareness, brand association, perceived quality, and overall brand equity, accumulated and summarized from 5 researchers following aaker’s concept of consumer-based brand equity. the reason is that not all the items for measurement in all 5 researchers were relevant to skin moisturizer brand. thus, an analysis on the relevance of all items and the needs to reduce such large number needs to be conducted. the 51 items would be further reduced to more relevant set that will be used in the consumer-based brand equity section in the core study. all items in the questionnaire would mention mustika ratu skin moisturizer. the pilot study questionnaire was distributed to 70 female respondents who were asked whether they use any brand of skin moisturizer (either body butter or body lotion) in the past one year. if their answer were yes, they would proceed to fill up the questionnaire. results from the pilot study were analyzed using exploratory factor analysis. all the 51variables would be reduced to a new number; and these numbers of items were included in section iii of the second questionnaire. the second questionnaire had three major parts. the first was demographic section consisting of a form for name, age, major, monthly expenses excluding boarding house fee/any housing rental expenses and the skin moisturizer brand they use. the second section consisted of the cetscale taken from the original shimp and sharma (1987)’s scale to measure respondent’s consumer ethnocentric tendency. the last part consisted of the items of consumer-based brand equity obtained from the pilot study but at this core study the brand mentioned in the data from the core study would be first analyzed using k-means cluster. the data processed were only the data obtained from the second part of the questionnaire. results from processed data would show 2 clusters based on consumer ethnocentric tendency. one is the cluster of consumers with high ethnocentric tendency and the other cluster is the cluster of consumers with low ethnocentric tendency. respondents with higher mean scores would go for the highly ethnocentric cluster and vice versa. the division into two clusters was used in the next analysis. after being divided into two 118 journal the winners, vol. 15 no. 2, september 2014: 115-122 clusters, the data from the third section would be analyzed using one-way anova analysis. result would show the mean difference between each cluster’s brand loyalty, perceived quality, brand awareness, brand association, and overall brand equity. the final result would show whether there is significant difference between the two clusters i.e. higher consumer-based brand equity mean score in all dimension in the cluster respondents with high ethnocentric tendency and lower consumer-based brand equity of domestic skin moisturizer brand mustika ratu mean score in the lower ethnocentric tendency cluster. results would be referred back to previous studies by chryssochoidis, krystallis, and perreas (2007); verlegh (2007); yeong et al.,(2007); and evanschitzky et al.,(2008) who highlighted that consumer ethnocentrism is a good predictor of consumers’ evaluation of domestic and foreign goods, where ethnocentric consumers in favor of the former. therefore, based on the two main steps in this research, figure 1 shows framework of the research. figure 1 research logical framework results and discussion measures of consumer ethnocentrism may provide pt mustika ratu tbk. marketers with the information necessary to target consumers who do not allow nationalistic feelings to influence product quality evaluation and purchase behavior (huddleston, good, & stoel, 2001). findings in this research lead to several implications. from exploratory factor analysis, a set of 13 items consisting of 12 items of multidimensional brand equity measurement and 1 item for overall brand equity measure for skin moisturizer consumer-based brand equity is obtained. the 13 items are deemed relevant to be used for analysis in the later stage, i.e. cluster analysis and one way analysis of variance (anova). comparison of skin moisturizer..... (yossy hanna garlina) 119 based on cluster analysis using cetscale, female youth skin moisturizer consumers who are exposed to strong international environment can be clustered into 2 segments based on their consumer ethnocentrism tendency i.e. low tendency and high tendency consumers. the high ethnocentric consumer cluster have 61 members in the cluster and the low ethnocentric tendency have slightly less member i.e. 58 members in the cluster. the two clusters formed have significant difference as tested in the one way anova analysis. in all individual dimension analysis, all variable means and individual means show distinct difference between the high ethnocentric tendency consumer cluster and the low tendency one. the low ethnocentric consumer cluster tends to have lower mean score of brand loyalty, perceived quality, brand awareness, brand association and overall brand equity toward mustika ratu skin moisturizers as compared to the high ethnocentric tendency cluster. the distinct and consistent difference in the mean score of the high ethnocentric consumer cluster and the low ethnocentric consumer cluster is consistent with the finding of shimp and sharma (1987), balabanis and diamantopoulos (2004), and bandara and miloslava (2012). the finding claims that consumer ethnocentrism is positively correlated with preferences towards domestic products and negatively correlated with foreign-made product preference. thus the positive correlation result in higher score of all mean score consumer-based brand equity dimensions (brand loyalty, perceived quality, brand awareness, and brand association) of mustika ratu skin moisturizer as a domestic product in the highly ethnocentric cluster and a lower score in the low ethnocentric cluster. from the finding summary, it is affirmed that highly ethnocentric consumers will have positive perception towards domestic product and vice versa. it is suggested that the company to pay attention more on building consumer’s brand loyalty as both high ethnocentric and low ethnocentric consumer show the lowest scores among the five dimensions of consumer based brand equity of mustika ratu skin moisturizer. conclusion exploratory factor analysis was employed to investigate the factors relevant for the investigation of consumer-based brand equity of skin moisturizer according to indonesian female youth. by exploratory factor analysis, 13 relevant items for skin moisturizer consumer-based brand equity analysis under 5 dimensions of consumer-based brand equity can be obtained from the original 51 points collated from 5 different researchers following aaker’s concept of consumer-based brand equity. the 13 variables can be employed for future research on consumer-based brand equity of skin moisturizer specifically. cluster analysis was employed to cluster female youth skin moisturizer consumers with strong exposure to international environment based on consumer ethnocentrism. by cluster analysis, indonesian youth female skin moisturizer consumers with high exposure of international environment can be clustered into 2 clusters, i.e. cluster of consumers with high ethnocentric tendency and cluster of consumers with low ethnocentric tendency with valid and distinct difference between the two clusters. the significance value concludes that there is a difference between the averages of consumer ethnocentrism score of the two clusters formed. the clustering process resulted in 61 respondents clustered into the high ethnocentric tendency cluster and 58 respondents clustered into the low ethnocentric tendency cluster. one way analysis of variance (anova) is employed to investigate the differences between consumer-based brand equity of local skin moisturizer brand of highly ethnocentric and low ethnocentric indonesian female youth segment. by one way analysis of variance, the two clusters 120 journal the winners, vol. 15 no. 2, september 2014: 115-122 formed have significant difference as tested in the one way anova analysis. in all individual dimension analysis (brand loyalty, perceived quality, brand awareness, brand association and overall brand equity), all variable means and individual means show distinct difference between the high ethnocentric tendency consumer cluster and the low tendency one. the low ethnocentric consumer cluster all have lower mean score of brand loyalty, perceived quality, brand awareness, brand association and overall brand equity towards mustika ratu skin moisturizers compared to the high ethnocentric tendency cluster. suggestions the research gives a descriptive insight of the clustered nature of indonesian youth female segment. the female youth segment in indonesia is clustered into cluster of high ethnocentric tendency consumers and low ethnocentric tendency consumers. the lower tendency cluster tend to have much lower mean score of brand loyalty, perceived quality, brand awareness, brand association, and overall brand equity as compared to their highly ethnocentric counterpart. in order to capture the low ethnocentric segment of female indonesian youth, the company may apply several things as follow. the first, the company needs to specifically increase the loyalty of low ethnocentric consumers, the company may strengthen its product function and branding efforts to send the message that the products have similar prowess to the foreign brands. the second, the company needs to specifically increase the perceived quality in the minds of low ethnocentric consumers, the company may try to strengthen its brand reliability in the minds of low ethnocentric consumers to send the message that mustikaratu skin moisturizer is indeed a high quality product. the third, the company needs to specifically increase the brand awareness of low ethnocentric consumers, the company may try to increase its branding effort towards the low ethnocentric consumers such that the consumers may recall the characteristics and features of mustika ratu skin moisturizer. the fourth, the company needs to specifically increase the brand association of low ethnocentric consumers, the company may try to strengthen its company credibility image in the minds of low ethnocentric consumers thus the consumers may place more trust in the company for their daily need of skin moisturizer. the fifth, the company needs to specifically increase the overall brand equity in the minds of low ethnocentric consumers, the company may try to strengthen its brand value in the minds of low ethnocentric consumers such that they think of the product as a worthy purchase and of high value. the sixth, although this is consistent with the distrust nature of the low-ethnocentric consumers towards domestic brand, this provides an insight for the company to strengthen its brand value in the minds of low ethnocentric consumers. for future research, to investigate further about the specific relationship between brand loyalty and consumer ethnocentrism, future research may discuss further as to which extent disloyalty of low ethnocentric consumer is affected by their global/local orientation. to investigate further about the specific relationship between perceived quality and consumer ethnocentrism, future research may discuss further as to which extent the distrust of low ethnocentric consumer is affected by their global/local orientation. to investigate further about the specific relationship between brand awareness and consumer ethnocentrism, future research may discuss further as to which extent the lack of brand recall of low ethnocentric consumer is affected by their global/local orientation. to investigate further about the specific relationship between brand association and consumer ethnocentrism, future research may discuss further as to which extent the lack of trust on the company of low ethnocentric consumer is affected by their global/local orientation. to investigate further about the specific relationship between overall brand equity and consumer ethnocentrism, future research may discuss further as to which extent the low perception of brand value in low ethnocentric consumer is affected by their global/local orientation. comparison of skin moisturizer..... 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(2007). purchase preference of selected malaysian motorcycle buyers: the discriminating role of perception of country of origin of brand and ethnocentrism. asian acad. manage, 12(1), 1–22. microsoft word 01_chandra w.w._internet commerce.doc internet commerce managing… (chandra wibowo widhianto) 1 internet commerce managing financial on the internet chandra wibowo widhianto1 abstract article explain how to business through internet which are web business clarification, strategy effect, how to make profit, and business electronic changes consist of criptografy, edi, signature, digital notarisation, file, payment, and how to get succes in internet business. keywords: internet, commerce, financial abstrak artikel menjelaskan cara berbisnis melalui internet meliputi klarifkasi berbisinis di web, dampak strategi, cara mendapatkan uang, dan perubahan elektronik bisnis yang terdiri atas kriptografi, edi, tanda tangan, notarisasi digital, arsip, pembayaran, serta cara mencapai keberhasilan berbisnis di internet. kata kunci: internet, perdagangan, keuangan 1 staf pengajar fakultas ekonomi, ubinus, jakarta journal the winners, vol. 2 no. 1, maret 2001: 1-11 2 introduction commerce on the web the web is now ready for the next generation pf companies. secure electronic payment system are the defining factors that will enable companies, large and small, to profit by selling online. smart business people are keeping a close eye on their own digital storefronts. the internet is worldwide network consisting of connected regional network using a common protocol suite, the internet protocol suite (ips). system connected to the internet have access to huge range of service and information. worldwide wide web (www) is a system for organizing information on the internet tools that allow people to navigate or browse the world wide web simply by pointing and clicking. the present and future facts that every kind of business you can imagine has entered the online world, supermarket stores, software companies, bookstore, bridal salons, toyshops, photography studios, music stores, publisher and many. and the truth is that most of them had no idea what they were getting into when they started : however, many companies, do have successful web presence. some properties of information that influence its potential commercial value include. 1. it is reusable. unlike physical products, information can be sold without transferring ownership. as one information provide observed. 2. it can be used as an efficient and effective substitute for labor. these substitution effect are most visible in information intensive, complex and time dependent activities. 3. the time value of information also increase at the speed of business increases. in the 1990s, the traditional approach of measuring the money value of time. in the same way, two powerful information management tools-the www and user friendly information “browser” – have transformed the internet from a tool for dedicated techniques to a power house of information and vast network of communication for everyone. just the customer can sign up for automatic product update get customer support online, view demos and characteristics of product and service, download for free software and tap into additional resource. so, business are being very creative and using a variety of strategies to get noticed on the web. with the web’s flashy graphics, marketing and advertising are a natural fit. companies with hot web sites are capturing the business world’s imagination. most companies are advertising , but not selling, on the web – their emphasis is on telling not selling. as the elements of electronic commerce are folded into these marketing and advertising sites, selling will take precedence over telling. inevitably, companies will want to see a return on their web investment. electronic commerce, therefore, will be the next big push. companies successful selling on the web today are marketing known commodities with consistent quality, such as cds, magazines and brand – name computer equipment. another thing are little big difficult, such as clothing, how will you can fit it? is color on the screen the real color? but given the tremendous success of apparel catalog sales in recent years, one can only surmise that some of business will move to the web. internet commerce managing… (chandra wibowo widhianto) 3 companies are getting that web profits will eventually follow their web presence. web advocates believe that online commerce is the next natural progression. like a television makes its money through advertising. the web is marketing channel too. can the web be far behind ? when internet commerce standards emerge as they did for the credit industry with visa. mastercard and american express, presence will translate in to cash. the effects for the companies we don’t have to be rich and powerful to launch a business on the www. because of that, the small companies can and are masquerading as big companies – the web enables a small company to project a professional, interesting , wide –reaching global image. the battle will go to those with the best overall strategy, not the biggest budgets. large companies have an advantage over smaller company because they can more easily generate publicity publicity for their sites thorough traditional media, such as by including their world wide web address in radio and television sports, sending out press releases, and adding an image of their web pages to printed ads and brochures. but they also have a disadvantage – expectation for them are high , especially if their traditional advertising has created a strong company image. large companies need to invest substantially more many in setting up a highly sophisticated site to satisfy people’s expectations. the important for competition is powerful motivator. because the web is a new medium, creativity abounds and as new technology continue to emerge, web pages will continue to involve. so, creative sites are drawling attention, the strategy is provide an interesting and excellent pages on the sites. don’t be a dried sites and people never see. web site business strategies shopping on the web is still new. a customer’s natural tendency is to resist anything new, especially when money is involvedit took more than the decade , for example , before people were comfortable with atm machines. people will need to see an advantage when doing business with the company on the web. successful merchant understand this and offer discounts. once a presence has been established, prices slowly rise. even when offering discounts, many companies come out ahead. by cutting out the cost of distributing goods to retail, a factor that can account for 70 percent of the final cost of many goods, firms can offer lower prices while maintaining higher margins. these strategies are discussed later in the chapter and include the following : just the goods, leveraged information, unique service, coupons, email, subscriptions, contests, special, free searches, free merchandise, compilation of strategies and malls. making money setting up a web site is not a guaranteed revenue generator by any stretch of the imagination. the web in many respects is still in its infancy: however, secure electronics payment system are believed to be the definitive to unleashing the business potential or this medium. journal the winners, vol. 2 no. 1, maret 2001: 1-11 4 some companies are making substantial profits from this technology and those companies are the usual suspects, software and hardware companies, computer publisher, internet service providers and consultants. the people making the money today are the people with the expertise or equipment to establish a business on the web. for most business, the www is still a sideshow to their main business as they determine if long – term opportunity really exist on the internet. discussion the internet commerce revolution the aims of this chapter is to introduced a new technology that are expanding the realm of electronic commerce to the internet and small business. each of the key components of commerce (contracts, signatures, notaries, payment system, and audit trails) are supported in new electronic commerce. furthermore, these technologies are cheap and easy to use. merchants should understand all of these technologies, but should pay particular attention to the payment system selected. electronic payment system are envolving rapidly , so a set criteria was presented that any merchant can use to evaluated any payment system that may come along. different payment system currently available are discussed and a method of evaluating those competing system is presented. the other problem is known as the double – spending ; offline electronic cash stored on a pc is nothing more than a bunch of bits on your hard disk. creating copies of electronic dollar bills is thus quite easy – no need to buy a high – priced color copier to copy cash here. by creating copies of electronics cash, anyone could start with a penny at eight on the morning and be a millionaire by noon. how are people prevented from copying electronic cash and spending it twice ? the answer to this question will play a key role in the success of offline electronics cash. public key cryptography cryptography is the science of scrambling message so that they cannot read. ordinary cryptography schemes rely on a high – tech secret – decoder ring., which, just like the matching secret – decoder rings buried in cereal boxes, is needed by both the sender and the reader in order to read message. the big breakthrough that mad advances in electronics commerce possible happened in the late seventies, when a group of research develop what is now known as public key cryptography. public key cryptography splits the decoder ring into two parts, called keys one key made public, the public key and other is carefully guarded the private key. the two keys always come in pairs. if the private key is ever compromised, the whole system breaks down. electronic data interchange electronic cash is just one application of advanced cryptography revolutionizing the field of electronic data interchange (edi). edi specifies the format for a set of standard message. business exchange edi message with other businesses to order and pay for goods, check on internet commerce managing… (chandra wibowo widhianto) 5 parts availability, ship supplies, and more. edi is essentially an electronic document – there are edi purchase orders, edi quotes, edi authorizations, edi verification of delivery and so on. a clearinghouse collets various edi payment authorizations from customer and settles accounts once a day. until recently, edi message exchange between business were sent over leased lines not the internet. edi offers several advantages to business. big business have been participating in these clearinghouse payment schemes for a number of years. while edi does eliminate unnecessary paperwork for business, the real advantages of edi are that it gives a businessincreased capability to track orders and inventories electronically. another important benefit of edi is that companies control their money at all times, preventing banks from collecting interest on customer money as it “floats” in between accounts. digital signatures digital signature enable one partly to sign a document with a personal signature. the document receiver can look at digital signature of the sender and determine whether the document was altered since it was signed. digital signature have several advantage over paper signatures, as flower, they can not be easily forget, they make document tampering obvious, they can be verified at a distance, they can be verified by someone who has never meet the signer and they are valid for copies, as well was for the original. digital signature, combined with trusted timestamp services, enable nonrepudiable transaction ( transaction that be denied after the fact). digital signature prove the identity of a signer and trusted timestamp service guarantees the time of signing. timestamp service are provide by digital notaries. digital notarization digital notarization certifies internal document trails, making it possible for companies to use electronic forms for critical information. providing a digital audit trail role of the digital notary. a digital notary system gives research a way to keep electronic histories of their projects by automatically notarizing their daily records. this process provide a solid document history of development projects. also, digital notaries are useful for certifying financial records, contracts and research papers. the following companies and organizations will benefit by using digital notarization, law enforcement agencies, accounting firm, hospitals, banks, law firm and wall street. electronic archiving electronic archiving is the process of saving and maintaining historical records in electronic format. more is involved than just backing up tapes and storing them in safe. any company interested in widespread use of digital notarization will also want to investigate electronic archiving in order to save notarization document. journal the winners, vol. 2 no. 1, maret 2001: 1-11 6 electronic payment system electronic payment system (epss) comes in a variety of form. for our purpose, an eps is any method of getting paid online. the perfect eps fulfills the following requirements. 1. cannot be lost, stolen, or forged; 2. has zero transaction cost; 3. is acceptable worldwide; 4. can be used for any size payment, from a penny to several billion dollars or more; 5. support credit and debit payment; 6. instantaneously transfers money between the customer and merchant. electronics checks involved the sane level of security and general payment system set up as electronic credit cards. the difference is that instead of using an id number, the bank issues you a whole set of numbers-similar to a checkbook without the checks also provides routine tracking of the checks that you have written. these electronic checks can bounce, just like an ordinary check. electronic cash it is a digital equivalent of dollars an cents. the technology necessary for cash transaction online is the same private keys so those customer can withdraw and deposit electronic cash. electronic cash can be more convenient and flexible than traditional money, and in some forms offers the same level of anonymity as regular cash. privacy and mechanics of getting paid electronic payment system vary in their answer to the following questions. 1. when does the merchant’s account get credited ? 2. when does the customer’s account get debited ? 3. can the electronic cash be lost or stolen ? 4. are purchased anonymous ? 5. who is liable for forget or contested payment ? merchants and customer must understand the difference between debit and credit systems, system work like a credit card → put the money in and then spend it. credit system work like a credit card → spend first, pay letter. credit systems use digital signatures and timestamps to replace the paper trail provided with credit card slips today. electronic payment systems can be devided into two categories : (1) identified epss : stamps each transaction with the identify of the customer, leaving a paper trail like an electronic credit card and (2) anonymous epss : work the same as currency consumer can use anonymous epss without identifying themselves. each of the two eps categories is further subdivided into offline an online. internet commerce managing… (chandra wibowo widhianto) 7 winning with your digital storefront people can sell products, services, advertising and information on the world wide web if they are smart about it and at the very last, they can promote our existing business. a repeat customer base is important to succeed in both the online and offline worlds. repeat business depends on knowing our customer. identifying customer and developing profiles is something that is just beginning to be explored on the web. ultimately, consumer attitudes toward the web will drive the success of digital storefronts. anticipating the needs and wants of your likely clientele is the first in shaping customer attitudes. the following are strategies that we can use to locate our digital storefront in cyberspace: 1. generate a plan before starting a business, most people put together some sort of business plan approach taking your business to the web in the same thoughtful manner. if you are already have a business and are establishing your first web site or if you are already have and are establishing your first web site or if you are launching a new purely web–based, you plan by asking yourself these important questions: why, what, who, how and when. use your answer to these questions to generate a list of priorities and establish a focus before your begin development of your digital storefront. also, use you list of priorities to help you establish some sort–term and long–term goals and then keep them is perspective as you continue to develop your online business. 2. use content and more content the web is an information medium, if you don’t have any worth while information to offer, you are totally exposed and no one will take you seriously. make certain that only good; solid, accurate information gets the widespread exposure the web offers. make your best information east to locate. every storefront should have the following information on the storefront :a header that clearly identifies who you are and what you sell, an e-mail address, copyright information as it applies to online content, contract information, mailing address ,a fax number and phone number. 3. have clear, concise, and direct message although the important of providing content was just stressed, understand that quality does not mean quality. textually dense sites are tiresome and they get in the way of doing business. concentrate on capturing the essence of your business without overdoing the message. avoid does information overload and get to the point. within your clicks, you can select a product, read about it, make a purchase and be entertained in the process. 4. put your best face forward organize your storefront so that all of your core options in view without the customer have to scroll to see more. if you have a number of links, present them in an organized manner, journal the winners, vol. 2 no. 1, maret 2001: 1-11 8 grouping similar links together. this approach gives your page a clean rather than a cluttered look. 5. make storefront interactive and e asy to navigate you want your digital store to be easy to use, fun to use and fast. set up purposeful and meaningful links. don’t send customer an wild goose chases through your site unnecessarily. utilize the interactive nature of the web to your advantage and remember that people browsing on the web are learners, not just passive receivers of information. your storefront must have more to offer than just picture and text. give your customers something to do. make it as interactive as possible. 6. entertain people like to be entertained, they activity pursue a good time. if your online store is fun, customer will visit. be carefully, however, that the entertaining qualities of your web site do not over shadow your message. finding a balance between entertainment, content and a great product of service targeted at specific groups is the foundation of successful web site. 7. offer giveaways as incentives frequent content and giveaway draw crowds. online coupons and store discounts can increase retail store traffic. 8. offer discounts selling at a discount will be a must for business venturing onto the web, at least in the early days. the point is price is always a great motivator. 9. update your storefront frequently change your display as much as money and time will allow; fortunately , may changes that can made on the web site do not necessary have to cost you anything extra. 10. integrate humor into your storefront humor is an effective tool, but difficult to do well. 11. project a bigger than you are professional image a few professional – looking graphics go a long way to boosting your image. provide content that is well thought out and professionally presented. no one who meets you for the first time online needs to know how big your company actually is, so consider putting effort into looking than you really are. you can accomplish this by projecting an expert image. 12. make purchasing easy the easier you make the process of buying, the more likely it is that you will generate revenue. so make the process as quick and painless as possible. internet commerce managing… (chandra wibowo widhianto) 9 13. monitor your web activity programs are becoming available to track user activity at the web sites. 14. known your competition the web makes the monitoring of your competition easier, so take advantage of it. who has the good ideas ? who is falling ? who is taking risk ? what’s the next trend ? and so. 15. make certain your storefront is error prevent as many as you can having more than one–person review your web site. test and retest before you go to market. 16. draw a crowd virtually nothing is known about how to effectively develop store fronts to maximize business. 17. maximize your visibility many businesses are taking a multiple strategy approach to get people to their storefronts., because they know that visibility helps to build credibility. as the internet continues to grow ,it will become easier to get lost in the sea of information. 18. adversity adversity are beginning to partner up with web provider or starting their own internal shops. they are also beginning to realize that advertising on the web requires smart target marketing that takes advantage of the web’s unique ability to get immediate customer feedback. internet service providers the web has brought back the old business of timesharing – renting space on someone else’s computer. about 55 percent of the fortune 1000 companies are building their was sites internally, while the other 35 percent are turning to the internet service providers for the following reasons. 1. to became a hot site, you must take advantage of the latest technology, which is time– consuming given the constant stream of update that must be tested and installed. 2. a full–time staff is often needed just to keep a site running. because web technology is often used solely for external customers, the employee time investment in this specialized technology cannot be justified. playing with the web technology is a distraction for most business, especially if it is not one of their core competencies. 3. security is compelling concern for business . specialist are required to truly isolated internal computer from the internet. most companies simply do not want to take the risk that a hacker will penetrate their internal systems. 4. real access security that isps can offer provide multistaged access control, monitoring of personal with access to equipment and 24 –hour per day guards. journal the winners, vol. 2 no. 1, maret 2001: 1-11 10 5. real physics security is taken care by isps – floor rooms, power supplies, air conditioning, physical location, and network link. 6. cost is a motivating force. many internet service provider can provide a web site complete with graphics for less than the cost of the hardware and communication required to run your own site. 7. many companies start with slow lines, such as 14.4 or 56 kb lines. isps often high-speed connectivity, multiple t1, and t3 connectivity to main internet hubs. 8. isps other headache – free management control with their pre-exiting, proven policies for operation and security. 9. isps can provide automated backup and offsite storage. 10. system administrator if applicable do not need to learn obscure unix commands and tcp/ip setup parameter. 11. isps offer one-stop shopping – no need to talk to internic for a domain registration., telco for lines, router vendor for firewalls and so on. the isps does it all your simply write the check. because everyone is rushing to the web, most providers have more business than they can handle. many new providers are arriving on the scene the remarkable rate. be selective. make certain that the isp you select can meet you individual business needs. agents more and more sites are now being established on the web, covering nearly every conceivable topic. manually searching through the maze is becoming a time consuming and expensive proposition. agent are being develop to help speed these search. agent based search tool will enable customer to search for the most competitive price or find general points of interest on the internet. a software agent is a computer program that is a mobile autonomous enity traveling around cyberspace on your behalf. an intelligent agent can go off and do useful thing for you as your representative in the marketplace, such as buying and selling goods and service. individuals, groups and institutions can own software agents and instruct them to access certain kinds of information and exchange information with other people and agents in cyberspace. agents take what customers what and automatically search the internet for matches. as a customers, you out a 50 –200 question survey about yourself and buying habits. the results of the search will generate a home page on your browser. the agents search continually, even while you sleep. the agent doesn’t run on your workstation, but rather than on an agent provider’s machine. when you log on in the morning, the agent maybe posted 30 items retrieved from all over web. you can quickly look the result and determine which pertain to your life. the agent become highly personalized tool for you. agent provider benefit also, because they know about you they can sell to adversity. future of internet commerce the future for online is very bright indeed. everyone is preparing. retailer and bank across the country are rushing to establish system that will secure consumer trust. the government is trying to come up with standard for epss and is monitoring commercial traffoc over the internet. the current commercial online service continue to spend their shopping areas. thousands internet commerce managing… (chandra wibowo widhianto) 11 of copies of world wide web browsers are download daily. city – by-necessary to handle the sophisticated video, graphics, text, and sound commonly found on today’s web pages, but as is usually the case, the technology is a head of the infrastructure. the most complex, high risk and potentially costly with internet experimentation is the security risk, and companies must consider this issue carefully from the outset. the last question are : is your company capitalizing on the potential benefits of electronic commerce ? could action you should take prempt competitive actions by other? conclusion the market moves on. each of use, through our individual action, helps to shape the technology future. consumerce will pick the winners and losers in the digital marketplace. the technology is still in its infancy. changes that seem to be just around the corner may in fact be many years away. we believe that the adaption of the new technology will take considerable time. after all, many corporations are still running their business using twenty year – old technologies. only the last few years has client server technology has been well well understood for many, many years. still, once the majority of consumers have made up their minds on digital storefront, the rest of us will follow along. whether you call it evolution or revolution., change is coming. communications technology will reach into all aspects of our society. the united stated is leading the storefront will come. the only question is when ? do you believe it will be happen because of the globally economic crisis? then, the internet is an unsecured network. connection a corporate network, no matter how secure hosts are the internet will place resource at risk. system with confidential data should not be connected. maintaining security and integrity of information across inter organizational boundaries is always a challenge on the internet. references applegate, l.m., f. w.mcfarlan, and j.l mckenney. 1997. corporate information systems management: text and cases. 4th edition. usa: irwin/ mcgraw-hill. dahl, andrew and leslie lesnick.1996. internet commerce. addition wesley publishing company inc. milosevic, z. and a. bond. 1995. “electronic commerce in the internet; what is still missing?,” url: http://info.isoc.org/hmp/paper/096?html?paper.html. wigand, rolf t. and robert 1benjamin. 1997. “electronic commerce: effects on electronic markets,” url: http://www.use.edu/dept/annenberg/voll/issue3/wigand.html. microsoft word 04_vol. 15.1. manat rahim_ok_a2t.doc model pemberdayaan masyarakat..... (manat rahim; dkk) 23 model pemberdayaan masyarakat di wilayah pesisir dalam menanggulangi kemiskinan di kabupaten buton, sulawesi tenggara manat rahim; madjiani tahir; waly aya rumbia fakultas ekonomi, universitas haluoleo jln. h.e.a mokodompit no. 1, malaka anduonohu, kota kendari 93232 yadis_70@yahoo.co.id abstract poverty is a social reality characterized by underdevelopment in the social, economic, cultural, political, educational and natural factors that directly influence the inability of society, so as to be poor. the effort to reduce poverty is done by getting the community development approach through government programs i.e. pnpm-mp and strengthening unit districts management institutions. the data used were primary data obtained from the field survey with a list of questions; samples were 98 respondents. research analysis used descriptive quantitative method and community empowerment model approach. research shows that the family economic empowering 10 from 12 respondents or 83.33% increased in family income and did not work for 16,67% respondents. meanwhile, the traditional farmer empowerment productive effort 36 form 46 respondents or 78,26% succeeded to increase household income of farmers and 21,74% were not able to increase the income of farm households. meanwhile, venture capital empowerment fishermen increased fishing activity and managed marine products with a success rate of 55% and 45% did not succeed. keywords: poverty alleviation, community empowering, farmers, fishermen abstrak kemiskinan merupakan merupakan realitas sosial ditandai dengan keterbelakangan banyak hal baik terkait dengan sosial, ekonomi, budaya, politik, pendidikan maupun faktor alam yang berpengaruh langsung terhadap ketidakmampuan masyarakat, sehingga menjadi miskin. upaya penanggulangan kemiskinan dilakukan dengan pendekatan pemberdayaan masyarakat melalui program-program pemerintah antara lain pnpm-mp dan penguatan lembaga unit pengelola kecamatan. data yang digunakan adalah data primer diperoleh dari survei lapangan dengan bantuan daftar pertanyaan. sampel penelitian adalah 98 responden. metode analisis yang digunakan metode deskriptif kuantitatif dan pendekatan model pemberdayaan masyarakat. hasil penelitian menunjukkan bahwa pemberdayaan ekonomi keluarga dari 12 responden, berhasil 10 responden atau 83,33% dalam peningkatan pendapatan keluarga dan tidak berhasil sebesar 16,67%. sementara itu, pemberdayaan usaha produktif petani tradisional dari 46 responden, yaitu 36 responden atau 78,26% berhasil meningkatkan pendapatan rumah tangga petani dan 21,74% belum dapat meningkatkan pendapatan rumah tangga petani. sementara itu, pemberdayaan modal usaha nelayan telah meningkatkan kegiatan melaut dan mengelola hasilhasil laut dengan tingkat keberhasilan sebesar 55 % dan tidak berhasil 45%. kata kunci: penanggulangan kemiskinan, pemberdayaan masyarakat, petani, nelayan 24   journal the winners, vol. 15 no. 1, maret 2014: 23-33  pendahuluan pemberdayaan masyarakat merupakan upaya untuk meningkatkan harkat dan martabat lapisan masyarakat yang dalam kondisi sekarang tidak mampu melepaskan diri dari perangkap kemiskinan dan keterbelakangan. dengan kata lain memberdayakan masyarakat berarti memberikan kemampuan dan memandirikan masyarakat. proses pemberdayaan yang menekankan pada proses memberikan kemampuan kepada masyarakat agar menjadi berdaya, mendorong atau memotivasi individu agar mempunyai kemampuan atau keberdayaan untuk menentukan pilihan hidupnya. dalam hal ini bahwa pemberdayaan harus ditujukan pada kelompok atau lapisan masyarakat yang tertinggal. (prijono & pranaka, 1996). pemberdayaan masyarakat tidak lain adalah upaya penanggulangan kemiskinan dan keterbelakangan. pada gilirannya memperkuat posisi masyarakat dalam struktur ekonomi dan kekuasaan. untuk memperkuat posisi lapisan masyarakat telah dilaksanakan secara terus-menerus oleh pemerintah pusat maupun pemerintah daerah. pada 1993 diluncurkan kebijakan pemerintah yang tertuang dalam inpres nomor 5 tahun 1993, yang dikenal dengan program inpres desa tertinggal (idt). penanggulangan kemiskinan dilakukan dengan pendekatan pemberdayaan masyarakat, yakni memberikan kesempatan kepada setiap anggota masyarakat untuk dapat ikut serta dalam proses pembangunan dengan mendapatkan kesempatan yang sama dan menikmati hasil pembangunan sesuai dengan kemampuannya. pendekatan tersebut memperoleh penguatan dalam rancanangan pembangunan jangka menengah (rpjm) dan propenas 2001-2004, yaitu upaya penanggulangan kemiskinan dilakukan dijakan dan program dengan pendekatan bahwa masyarakat memperoleh ruang untuk menentukan pilihan yang paling sesuai bagi kemajuan diri mereka masing-masing. menurut pendekatan ini, setiap upaya pembangunan perlu diarahkan pada penciptaan suatu lingkungan yang memungkinkan masyarakat untuk menikmati kehidupan yang lebih baik sekaligus memperluas pilihan yang dapat dilakukan oleh setiap anggota masyarakat. pemberdayaan masyarakat diperlukan upaya untuk memadukan berbagai kebijaksanaan dan program yang tersebar di berbagai sektor dan wilayah dengan tetap memerhatikan tantangan modal potensi yang ada pada setiap orang dan setiap wilayah. kartasasmita (1996), pemberdayaan penduduk miskin dengan kebijakan penanggulangannya dilaksanakan melalui tiga arah kebijakan. kebijaksanaan tidak langsung diarahkan kepada penciptaan kondisi yang menjamin setiap upaya penanggulangan kemiskinanan. kebijkasanaan langsung yang ditujukan kepada golongan masyarakat berpenghasilan rendah. kebijaksanaan khusus yang dimaksudkan untuk mempersiapkan masyarakat miskin dan aparat yang bertanggung jawab langsung terhadap kelancaran program dan sekaligus memacu dan memperluas upaya untuk penenggulngan kemiskinan. model pemberdayaan penduduk miskin dengan pendekatan yang telah dilakukan oleh pemerintah di antaranya program inpres desa tertinggal (idt), program pengembangan kecamatan (ppk) dan program pengelolaan berbasis masyarakat coremap i dan ii khususnya bagi masyarakat pesisir dan kepulauan. dalam rangka mewujudkan masyarakat yang memiliki daya dan kemampuan untuk meningkatkan kualitas sosial ekonomi secara mandiri dan berkesinambungan, maka model pemberdayaan masyarakat dengan program pnpm-mp yang bertujuan untuk mengembangkan ekonomi produktif masyarakat. kabupaten buton dengan luas wilayah 2.648,08 km2, berpenduduk 284.627 jiwa, dan secara administrasi terdiri dua puluh empat kecamatan. pertumbuhan ekonomi kabupaten buton berdasarkan harga konstan tahun 2000 yaitu tahun 2007 sebesar 6,15 persen meningkat menajadi 6,87 persen pada 2012. sementara pertumbuhan pdrb per kapita kabupaten buton mengalami peningkatan yaitu tahun 2007 pdrb per kapita sebesar rp 4.816,299,47 menjadi rp 6.827.572,29 atau meningkat 16,69 persen pada 2012. jumlah penduduk miskin di kabupaten buton sebanyak 67,900 jiwa atau 22,98 model pemberdayaan masyarakat..... (manat rahim; dkk) 25 persen lebih tinggi jika dibandingkan dengan sulawesi tenggara 19,58 persen. sementara keluarga atau jumlah rumah tangga yang tergolong miskin berjumlah 41.197 rumah tangga (bps, 2012). secara umum keluarga miskin kabupaten buton adalah mereka tidak mempunyai faktor produksi seperti tanah, modal, ataupun keterampilan, sehingga kemampuan untuk memperoleh pendapatan menjadi terbatas. oleh karena itu sangat potensial menjadi kantong-kantong pemukiman penduduk miskin. kemiskinan di wilayah pesisir kecamatan sampolawa, kecamatan wabula, dan kecamatan mawasangka termasuk wilayah yang sebagian besar penduduknya bermata pencaharian nelayan tardisional dan petani ladang berpindahpindah. pada gilirannya kehidupan ekonomi dan sosial rendah. hal ini dapat menjadi lahan subur bagi timbulnya kerawanan-kerawanan di bidang kehidupan yang lain. kemiskinan dan tekanan sosial ekonomi yang dihadapi oleh rumah tangga berakar dari faktorfaktor kompleks yang terkait, antara lain pekerjaan utama sebagai nelayan tradisional, tidak memiliki faktor produksi kecuali tenaga kerja, buruh bangunan, dan pekerjaan serabutan. berdasarkan informasi tersebut, maka penelitian ini difokuskan pada topik model pemberdayaan masyarakat dalam menanggulangi kemiskinan. rumusan masalah dalam penelitian ini adalah bagaimana model pemberdayaan masyarakat di kabupaten buton, provinsi sulawesi tenggara. berangkat dari uraian latar belakang dan rumusan masalah tersebut, maka penelitian ini bertujuan untuk menganalisis pemberdayaan masyarakat di kabupaten buton. kajian teori konsep pemberdayaan masyarakat pemberdayaan muncul sebagai strategi dalam paradigma pembangunan yang berpusat pada manusia (people cantered development). konsep ini muncul dari dua yakni antara kegagalan dan harapan. kegagalan yang di maksdudkan adalah gagalnya model pembangunan ekonomi dalam menanggulangi kamiskinan dan lingkungan yang berkelanjutan. sedangkan harapan muncul karena adanya alternatif pembangunan yang mengutamakan nilai-nilai demokrasi, persamaan gender, persamaan antara generasi, dan pertumbuhan ekonomi yang memadai. konsep pemberdayaan pada awalnya muncul sebagai kritik terhadap paradigma pembangunan yang menepatkan negara terlalu domino dalam melaksakan pembangunan. posisi sentral negara terlihat dari mulai perencanaan sampai pada tahap pelaksanaan dan evaluasi. konsep pemberdayaan ini berasumsi bahwa pembangunan akan berjalan lancar apabila masyarakat di beri kesempatan atau berhak mengelolah sumber daya yang ada untuk kepetingan masyarakat itu sendiri. memberdayakan masyaraka yang dalam kondisi sekarang tidak mampu melepaskan masyarakat adalah upaya untuk meningkatkan harkat dan martabat lapisan masyarakat yang dalam kondisi sekarang tidak mampu melepaskan diri dari perengkap kemiskinan dan keterbelakangan. dengan kata lain memberdayakan adalah meningkatkan kemampuan dan meningkatakan kemandirian masyarakat. pemberdayaan (empowerment) menurut kartasasmita (1996) berdasarkan makna katanya diartikan sebagai kekuatan yang berasal dari dalam, yang dapat diperkuat dengan unsur-unsur dari luar. cook dan macaulay (1997) mengemukakan bahwa pemberdayaan lebih memandang masyarakat sebagai subjek yang dapat melakukan perubahan dengan cara membebaskan seseorang dari kendala dan memberi orang atau masyarakat dengan kebebasan untuk bertanggung jawab terhadap ide-ide, keputusan, dan tindakannya. di sisi lain pemberdayaan masyarakat adalah upaya membangun daya dengan cara mendorong dan membangkitkan kesadaran akan potensi yang dimiliki serta mengembangkannya. pemberdayaan masyarakat dalam hal ini merupakan strategi yang sangat potensial dalam rangka meningkatkan ekonomi dan sosial. hasil penelitian bahruddin (2004) 26   journal the winners, vol. 15 no. 1, maret 2014: 23-33  melaporkan bahwa pemberdayaan masyarakat di kecamatan tiris probolinggo dengan program pemberian modal usaha berpengaruh terhadap pengentasan kemiskinan. selanjutnya program pemberdayaan masyarakat dengan pemberian modal usaha dan keterampilan dapat mendorong usahausaha produktif guna meningkatkan pendapatan. berdasarkan hasil penelitian abibu (2007), dilaporkan bahwa pemberdayaan perempuan melalui penguatan ekonomi produktif dengan program pemberian modal usaha di kabupaten konawe dapat meningkatkan pendapatan rumah tangga. lebih jauh huda (2005) melaporkan bahwa pemberdayaan dengan pemberian kredit mikro terhadap pendapatan masyarakat pedesaan melalui lembaga simpan pinjam berbasis masyarakat dari program pemberdayan masyarakat (cerd) di kecamatan aluh-aluh kabupaten banjar dapat meningkatkan pendapatan masyarakat. konsep kemiskinan pada dasarnya kemiskinan identik dengan taraf hidup yang rendah atau dapat diartikan sebagai suatu keadaan dimana kehidupan penduduk diwarnai oleh serba kekurangan akan kebutuhan pokok. seperti dikemukakan widodo dalam kastasasmita (1996) bahwa konsep kebutuhan dasar selalu dikaitkan dengan kemiskinan karena masalah kemiskinan merupakan obsesi bangsa dan persoalan mendasar yang harus ditangani. penduduk miskin umumnya tidak berpenghasilan cukup, bahkan tidak berpenghasilan sama sekali. penduduk miskin umumnya lemah dalam kemampuan berusaha, dan terbatas aksesnya pada kegiatan ekonomi, sehingga tertinggal dari masyarakat lainnya. nasution (1996) mengemukakan bahwa pada hakikatnya seseorang digolongkan miskin jika keadaannya menyebabkan dia tidak mampu menaati tata nilai dan norma-norma yang dijunjung tinggi oleh masyarakatnya. pendapat ini mengindikasikan bahwa kemiskinan dapat diartikan sebagai suatu keadaan, yang seseorang, keluarga, atau anggota masyarakat tidak mempunyai kemampuan untuk memenuhi kebutuhan hidupnya secara wajar sebagaimana anggota masyarakat lain pada umumnya. prayitno dan santosa (1996) mengatakan bahwa ada tiga dimensi (aspek atau segi) kemiskinan. pertama, kemiskinan multidimensional, artinya karena kebutuhan manusia itu bermacammacam, maka kemiskinan juga memiliki banyak aspek. dilihat dari kebijakan umum kemiskinan meliputi aspek primer yang berupa miskin akan aset-aset, organisasi sosial politik dan pengetahuan serta keterampilan; dan aspek sekunder yang berupa miskin akan jaringan sosial, sumber-sumber keuangan, dan informasi. dimensi-dimensi kemiskinan tersebut memanifestasikan dirinya dalam bentuk kekurangan gizi, air, dan perumahan yang tidak sehat, dan perawatan kesehatan yang kurang baik serta pendidikan yang juga kurang baik. kedua, aspek-aspek kemiskinan tadi saling berkaitan, baik secara langsung maupun tidak langsung. hal ini berarti bahwa kemajuan atau kemunduran pada salah satu aspek dapat memengaruhi kemajuan atau kemunduran pada aspek lainnya. ketiga, bahwa yang miskin adalah manusianya, baik secara individual maupun kolektif. sering terdengar perkataan kemiskinan pedesaan (rural poverty), kemiskinan perkotaan (urban poverty), dan sebagainya. ini bukan berarti desa atau kota yang mengalami kemiskinan, melainkan orang-orang atau penduduk atau juga manusianya yang menderita miskin. penjelasan tersebut menunjukkan bahwa konsep kemiskinan mempunyai dimensi yang luas dan kompleks. menurut usman dalam prijono dan pranarka (1996) paling tidak ada tiga macam konsep kemiskinan: kemiskinan absolut, relatif, dan subjektif. sedangkan nasution (1996) menggolongkan kemiskinan ke dalam kemiskinan: alamiah dan struktural atau kemiskinan buatan (man made poverty). konsep kemiskinan dapat pula dibagi atas kemiskinan material dan non-material. kemiskinan material diukur berdasarkan penghasilan, dan kemiskinan non-material ditandai oleh tidak adanya kebebasan berpolitik, bergerak, berpendapat, dan sebagainya (white dalam sitorus, dkk., 1996). konsep kemiskinan ini sama dengan pendapat soetrisno (1996) bahwa di indonesia ada 2 kemiskinan, yakni kemiskinan ekonomi dan politik. model pemberdayaan masyarakat..... (manat rahim; dkk) 27 kartasasmita (1996) menjelaskan konsep kemiskinan dari tiga sudut pandang. pertama, dari segi pola waktunya kemiskinan dibedakan atas: persistent poverty, cyclical poverty, seasonal poverty, dan accidental poverty. kedua, dari segi penyebabnya kemiskinan dibedakan atas kemiskinan kultural dan struktural. ketiga, dari segi pengukurannya kemiskinan dibedakan atas: absolut dan relatif. kemiskinan absolut ditandai oleh lebih rendahnya tingkat pendapatan daripada garis kemiskinan. kemiskinan relatif ditandai oleh adanya kelompok yang miskin dan tidak miskin di dalam suatu masyarakat. kemiskinan subjekif dirumuskan oleh perasaan kelompok manusia itu sendiri. persistensi poverty adalah kemiskinan yang kronis atau berlangsung turun-temurun. cyclical poverty adalah kemiskinan yang mengikuti siklus ekonomi secara keseluruhan. seasonal poverty adalah kemiskinan musiman seperti kasus nelayan dan petani tanaman pangan. accidental poverty adalah kemiskinan karena bencana alam atau karena dampak suatu kebijaksanaan, sehingga kesejahteraan masyarakat menurun. kemiskinan alamiah disebabkan oleh kritisnya sumber daya yang dimiliki, terisolasinya wilayah, dan rendahnya kualitas sumber daya manusia. kondisi inilah yang dapat melahirkan persistent poverty. kemiskinan kultural disebabkan oleh gaya hidup, kebiasaan hidup, dan budaya yang ada di masyarakat. mereka merasa kecukupan walaupun pendapatan mereka rendah menurut ukuran yang umum dipakai. mereka sulit diajak berpartisipasi dalam pembangunan dan kurang tergerak untuk meningkatkan taraf hidupnya. hal ini sangat berkaitan dengan konsep kemiskinan subjektif. kemiskinan struktural disebabkan oleh adanya: (1) ketimpangan struktural perekonomian: pembangunan timpang, pemilik sumberdaya tidak merata, kemampuan masyarakat sangat timpang, dan peluang berusaha tidak seimbang; (2) konversi penggunaan lahan dari pertanian kepenggunaan non-pertanian; (3) pengintroduksian teknologi yang bersifat padat modal. metode populasi dalam penelitian ini adalah masyarakat/penduduk pesisir kabupaten buton, dengan jumlah populasi 340 orang (tabel 1). penarikan sampel dilakukan secara proposional sampling. masing-masing diambil secara acak sederhana karena kondisi masing-masing sampel relatif sama. jumlah sampel dalam penelitian ini adalah 98 orang. selanjutnya jumlah sampel didistribusikan ke semua lokasi secara proposional, sehingga diperoleh distribusi sampel sebagaimana pada tabel 1. tabel 1 distribusi unit sampel pada wilayah penelitian kabupaten buton nama kecamatan jumlah populasi jumlah sampel mawasangka wabula sampolawa 102 121 117 25 38 35 jumlah 340 98 metode pengumpulan data dilakukan dengan cara sebagai berikut. wawancara dilakukan kepada masyarakat (responden) penerima program bantuan. kuesioner menggunakan alat bantu berupa pertanyaan-pertanyaan yang ditujukan kepada responden. dokumentasi dilakukan dengan mengambil data yang telah didokumentasikan oleh instansi terkait yang dilakukan dengan cara mencatat dan fotokopi. sesuai dengan rumusan masalah dan tujuan penelitian, maka analisis yang digunakan dalam penelitian yaitu tehnik analisis deskriptif kualitatif. 28   journal the winners, vol. 15 no. 1, maret 2014: 23-33  hasil dan pembahasan pemecahan masalah kemiskinan memerlukan usaha menghilangkan tradisionalisme, fatalisme, karakter cepat puas dan ketidakberanian mengambil risiko. konsekuensinya adalah diperlukan usaha penataran, pelatihan, ceramah, penyuluhan, dan program khusus seperti inpres desa tertingal (idt). untuk menanggulangi kemiskinan secara garis besar di kenal dua pendekatan yaitu, kebijaksanaan yang bersifat tidak langsung dan bersifat langsung. pendekatan pertama melalui pembangunan ekonami nasional yang berorientasi pasar yang sehat di tingkat petani/nelayan. pendekatan yang kedua dapat berupa atau terkait dengan program pemerintah secara sektoral seperti pendidikan, kesehatan, prasarana, dan bentuk bantuan langsung pada kelompok miskin. di satu sisi model penanggulangan kemiskinan memperkuat lembaga-lembaga ekonomi masyarakat di tingkat desa/kelurahan dengan menetapkan koperasi serba usaha dan warung-warung atau kios-kios serba ada. di daerah penelitian model penanggulangan kemiskinan dengan pendekatan pemberdayaan ekonomi keluarga dan program pendampingan atau bantuan modal usaha, antara lain bantuan sarana produksi untuk nelayan yakni perahu, karamba, kantiting, untuk usaha lain adalah bantuan ternak kambing ternak ayam dan mesin pengering. model pemberdayaan masyarakat di daerah penelitian adalah melalui pemberdayaan sarana ekonomi antara lain adalah modal usaha nelayan tradisional. berdasarkan tabel 2 besar model pemberdayaan masyarakat dengan pendekatan pemberdayaan ekonomi keluarga dari 12 responden berhasil 10 responden atau 83,33% dalam peningkatan pendapatan keluarga dan tidak berhasil sebesar 16,67%. sementara pemberdayaan usaha produktif petani tradisional dari 46 responden yaitu 36 responden atau 78, 26% berhasil meningkatkan pendapatan rumah tangga petani dan 21,74% belum dapat meningkatkan pendapatan rumah tangga petani. hal ini disebabkan etos kerja serta jiwa kewirausahaan yang dimiliki oleh responden masih lemah. tabel 2 model pemberdayan masyarakat daerah penelitian tahun 2013 model responden berhasil (%) tidak berhasil (%) pemberdayaan ekonomi produktif usaha dagang 12 10 (83,33) 2 (16,67) pemberdayaan usaha produktif petani tradisional pemberdayaan modal usaha nelayan tradisional 46 40 36 (78,26) 22 (55,00) 10 (21,74) 18 (45,00) jumlah 98 di satu sisi, pemberdayaan ekonomi juga sangat ditentukan oleh jenis usaha dan fasilitas usaha yang dimiliki oleh responden. sementara pendekatan pendampingan banyak dilakukan oleh responden dengan kegiatan usaha nelayan dan pengelola hasil-hasil perikanan sehingga tingkat keberhasilan sebesar 55% dan tidak berhasil 45%. hal ini disebabkan usaha nelayan sangat ditentukan oleh iklim atau cuaca untuk berproduksi. di samping itu, usaha nelayan dengan modal pendampingan tidak membutuhkan fasilitas usaha yang memadai, cukup hanya bagaimana nelayan dapat meningkatkan produksi, dengan pendampingan nelayan memperoleh sarana/ alat produksi serta metode pengolahan hasil produksi. menurut pangemanan (2002), untuk mendukung program pengelolaan dana yang dihibahkan, penduduk menentukan usahanya melalui kelompok-kelompok. dengan model seperti ini, maka penduduk miskin merasa meraih kemanusian, sehingga mereka bertanggung jawab atas pengelolaan dana. dengan demikian pemberdayaan ekonomi dapat meningkatkan kesejahteraan masyarakat. selain itu, model pendampingan kelompok miskin mutlak dilakukan dalam memperbaiki budaya usaha, memotivasi keluarga dalam pengelolaan keuangan. pemberdayaan masyarakat dengan pengembangan sumber ekonomi, peningkatan kapasitas masyarakat, dan kelembagaan. di samping itu model pemberdayaan masyarakat..... (manat rahim; dkk) 29 kegiatan ekonomi di wilayah pesisir didukung dengan mengatur sistem pasar dan manajemen pengelolaan sumberdaya perairan dan pantai. penyebab kemiskinan di daerah penelitian karakteristik penduduk miskin di daerah penelitian berkaitan dengan stuktur mata pencaharian. kurang lebih 90 persen penduduk di daerah penelitian bermata pencaharian sebagai nelayan tradisional. pekerjaan nelayan sangat ditentukan oleh faktor iklim. cuaca bersahabat merupakan kesempatan yang berharga untuk melaut atau mencari ikan. namun jika cuaca tidak bersahabat, tentu kerugian yang paling besar bagi nelayan. mubyarto (1996) mengemukakan bahwa pekerjaan nelayan adalah pekerjaan yang rentan dengan kemiskinan. di sisi lain kemiskinan nelayan adalah keterbatasan sarana produksi yang dimiliki dan masih tradisional. kemiskinan yang terjadi dewasa ini disebabkan ketidakmampuan untuk memenuhi standar hidup minimum. ada beberapa penyebab kemiskinan di daerah penelitian. rendahnya tingkat pendidikan rendahnya kapasitas masyarakat mengelola sumber daya pembangunan, sehingga produktivitas rendah. hal ini bersumber dari rendahnya tingkat pendidikan masyarakat. dilihat dari segi pendidikan responden di daerah pendidikan yang relatif rendah. dari 98 responden, sekitar 57.33% di daerah penelitian masih di bawah pendidikan dasar sembilan tahun. di satu pihak, rendahnya pendidikan akan sulit memperoleh pekerjaan yang produktif di luar usaha nelayan. penduduk dengan pendidikan relatif rendah akan berpengaruh terhadap produktivitas, pada gilirannya pembentukan model rendah. hasil penelitian rahmat (1996) mengemukakan bahwa masyarakat dengan tingkat pendidikan dasar 62.5% adalah masyarakat dengan tingkat produktivitas rendah, dan pada gilirannya pendapatan petani rendah. sementara penduduk masyarakat yang bermata pencaharian nelayan, petani, dan usaha kecil lainnya 64% dengan pendapatan rata-rata per musim sebesar rp.2.500.000,-. indikasi ini menunjukkan bahwa tingkat pendidikan masyarakat berkorelasi dengan tingkat pendapatan. makin tinggi pendidikan formal nelayan/petani, maka makin tinggi untuk melakukan transformasi struktural ke luar sektor pertanian. di satu pihak transformasi struktur ke sektor non-pertanian dapat mengentaskan kemiskinan penduduk di daerah pedesaan dengan model pengembangan sumber daya manusia. kurangnya permodalan sumber-sumber modal untuk pengembangan usaha di daerah penelitian sangat terbatas. hal ini disebabkan terbatasnya pemilikan faktor produksi antara penguasaan lahan (tanah) tidak ada. modal usaha adalah dalam arti uang/dana yang dimiliki oleh responden di daerah penelitian dapat dilihat pada tabel 3. tabel 3 modal usaha responden daerah penelitian no interval modal (rp) frekunsi orang % 1. 2. 3. 5.000.000 -10.000.000 11.000.000-20.000.000 > 21.000.000, 47 35 16 47 96 35, 71 16, 33 jumlah 98 100 30   journal the winners, vol. 15 no. 1, maret 2014: 23-33  mengamati permodalan masyarakat di dalam penelitian sebagai responden data yang diperoleh menunjukan bahwa modal usaha berkisar rp. 500.000,sampai dengan rp. 10.000.000, adalah 47 orang atau 47,96 persen dan masyarakat yang modal usahanya diatas rp. 21.000.000, hanya 16 orang keadaan ini menunjukkan bahwa masyarakat di daerah penelitian dalam mengembangkan usahanya masih terkendala modal pada gilirannya akan berpengaruh terhadap pendapatan. di sisi lain dengan minimnya modal yang dimiliki oleh masyarakat untuk kegiatan ekonomi produktif maka realokasi modal kurang efisien. di samping itu mobilisasi uang atau modal didaerah penelitian sangat lambat yang pada gilirannya daya beli masyarakat rendah, hidayatullah (2007) mengemukakan bahwa modal usaha untuk pemberdayaan ekonomi masyarakat sebesar rp. 30.000.000,sampai dengan rp. 50.000.000,-, dengan demikian maka modal usaha responden di daerah penelitian masih kurang atau dengan kata lain pemberdayaan ekonomi masyarakat miskin didaerah penelitian belum maksimal. jenis pekerjaan responden penyebab kemiskinan di daerah penelitian salah satunya adalah jenis pekerjaan. jumlah responden yang diamati sebanyak 68 orang (96,67%) menggeluti pekerjaan sebagai nelayan tangkap dan sisanya 3,33% usaha lain. tabel 4 jenis pekerjaan utama no jenis pekerjaan frekuensi orang % 1. 2. nelayan/tani usaha lainnya 68 30 96,67 3,33 jumlah 98 100 tabel 4 memperlihatkan bahwa jenis pekerjaan responden di daerah penelitian masih dalam kegiatan usaha mikro yang tingkat produktivitasnya rendah yaitu jenis pekerjaan nelayan adalah pekerjaan yang berisiko tinggi dalam pengelolaan usahanya mubyarto (1996), berpendapat bahwa nelayan dengan alat tangkap sederhana sangat rentang dengan lingkaran kemiskinan. hal ini oleh karena pekerjaan nelayan sangat tergantung pada keadaan cuaca (ombak) dilaut atau dengan kata lain kemiskinan nelayan disebabkan oleh karena kehidupan mereka tergantung pada faktor alam, jika musim baik maka mereka akan hidup dengan baik, dan jika musim tidak akrab maka akan merugi dan tidak berbuat apa-apa sehingga hidup tak tentu. leokman (1987) menjelaskan bahwa nelayan tradisional dengan kehidupan tergantung kepada perairan laut, yang faktor cuaca memengaruhi hasil tangkapan atau hasil produksi ikan. hal ini apabila cuaca baik maka hasil tangkapan akan meningkat, sebaliknya cuaca buruk akan tidak melaut. di samping itu jenis pekerjaan sebagai petani dengan luas areal garapan kurang lebih 0,5 ha, akan memengaruhi tingkat produktivitas pada gilirannya memengaruhi pendapatannya. di daerah penelitian rata-rata responden memiliki luas areal untuk tani kurang lebih 0.5 ha hal ini mengindikasikan bahwa petani di daerah penelitian masih petani gurem. menurut mubyarto (1996) usaha tani dengan luas garapan kurang lebih satu hektar tergolong petani miskin dan produktivitasnya rendah. di sisi lain usaha tani memiliki produktivitas dan pendapatan yang tidak menentu karena banyak faktor yang memengaruhinya antara lain, musin, harga komoditas dan sifat komditinya cepat rusak. model pemberdayaan masyarakat..... (manat rahim; dkk) 31 fasilitas usaha penyebab kemiskinan di daerah penelitian adalah kurangnya fasilitas usaha. hal ini antara lain tempat usaha, alat produksi dan fasilitas-fasilitas lain yang berkaitan dengan usaha responden. tabel 5 fasilitas usaha responden di daerah penelitian tahun 2013 no fasilitas usaha frekuensi orang % 1. 2. 3. gerobak kios ( tempat jualan) tidak ada 25 19 54 25,51 19,39 55,10 98 100 tabel 5 memperlihatkan bahwa fasilitas usaha yang dimiliki oleh responden di daerah penelitian tergolong sangat minim yaitu hanya 25 responden yang memiliki fasilitas gerobak dan 19 reponden memiliki fasilitas kios atau warung sembako sementara 54 reponden tidak memiliki fasilitas usaha atau tidak mempunyai kegiatan tempat untuk kegiatan ekonomi produktif. hal ini menunjukan bahwa responden (masyarakat) di wilayah penlitian belum dapat melakukan transaksi produksi secara efisien. menurut elfindri (2002), untuk meningkatkan transaksi pasar secara efisien harus tersedia tempat atau fasilitas yang baik untuk penjualan dan pembeli sehingga aliran uang dapat beredar efisien. di satu sisi fasilitas usaha atau tempat untuk usaha mikro dan kecil sangat diperlukan untuk mempromosikan produksi atau barang yang dihasilkan oleh masyarakat, khususnya tangkapan nelayan. dengan demikian fasilitas usaha sangat berkaitan dengan tingkat produktivitas. atau dengan kata lain tempat usaha merupakan sarana untuk memperoleh aliran modal usaha dari pemilik modal. tingkat pendapatan pendapatan masyarakat wilayah pesisir adalah salah satu karakteristik yang dapat membedakan lapisan masyarakat di pedesaan sementara pendapatan bersih masyarakat (responden) adalah nilai produksi yang dijumlahkan dalam satu tahun setelah dikurangi dengan biaya-biaya. pendapatan masyarakat wilayah pesisir bersumber dari hasil usaha penangkapan ikan, usaha dagang, usaha produktif lain dan pendapatan lain yang berkaitan dengan kegiatan masyarakat wilayah pesisir. tabel 6 tingkat pendapatan responden di daerah penelitian no interval frekuensi orang % 1. 2. 3. 1.000.000 -2.000.000 2.100.000-5,000.000 ≥ 5 juta 25 49 14 25,51 55.06 14,29 98 100 tabel 6 memperlihatkan bahwa pendapatan responden di daerah penelitian dalam satu musim adalah interval antara rp1.000.000,sampai dengan rp2.000.000,sebanyak 25 orang atau 25,51%; sementara pendapatan antara rp2.100.000,sampai dengan rp5.000.000,sebanyak 49 responden 32   journal the winners, vol. 15 no. 1, maret 2014: 23-33  atau 55,06%. hal ini menunjukkan bahwa pendapatan masyarakat wilayah pesisir masih di bawah rata-rata rp 3000.000 atau dengan kata lain bahwa pendapatan masih rendah. di satu pihak rendahnya pendapatan akan berpengaruh terhadap tabungan dan pada gilirannya pembentukan modal rendah. simpulan berdasarkan hasil penelitian yang telah diuraikan, maka dapat disimpulkan bahwa model pemberdayaan masyarakat di wilayah pesisir di kabupaten buton adalah pemberdayaan ekonomi keluarga dari 12 responden berhasil 10 responden atau 83,33% dalam peningkatan pendapatan keluarga dan tidak berhasil sebesar 16,67%. model pemberdayaan usaha produktif petani tradisional dari 46 responden yaitu 36 responden atau 78,26% berhasil meningkatkan pendapatan rumah tangga petani dan 21,74% belum dapat meningkatkan pendapatan rumah tangga petani. hal ini disebabkan etos kerja serta jiwa kewirausahaan yang dimiliki oleh responden masih lemah. di satu sisi pemberdayaan ekonomi juga sangat ditentukan oleh jenis usaha dan fasilitas usaha yang dimiliki oleh responden, sementara pendekatan pendampingan banyak dilakukan oleh responden dengan kegiatan usaha nelayan dan pengelola hasil-hasil perikanan sehingga tingkat keberhasilan sebesar 55% dan tidak berhasil 45%. hal ini disebabkan usaha nelayan sangat ditentukan iklim atau cuaca untuk berproduksi. di samping itu usaha nelayan dengan modal pendampingan tidak membutuhkan fasilitas usaha yang memadai, cukup hanya bagaimana nelayan dapat meningkatkan produksi, dengan pendampingan nelayan memperoleh sarana/ alat produksi serta metode pengolahan hasil produksi. oleh kerena itu penanggulangan kemiskinan dengan sasaran nelayan /petani tidak cukup dengan pemberdayaan ekonomi. daftar pustaka abibu, u. (2007). analisis penanggulangan kemiskinan melalui program pengembnagan kecamatan (ppk) di kabupaten konawe. tesis. program studi ilmu ekonomi dan studi pembangunan program pascasarjana universitas haluoleo. kendari. badan pusat statistik (bps). (2012). kabupaten buton dalam angka. badan pusat statistik kabupaten buton. cook, s., & macaulay, s. (1997). practical steps to empowered complaint management. managing service quality: an international journal, 7(1), 39–42. elfindri. (2002). ekonomi patron-klien. fenomena mikro rumah tangga nelayan dan kebijakan makro. padang: universitas andalas. huda, n. (2005). dampak pemberian kredit mikro terhadap pendapatan masyarakat perdesaan melalui lembaga simpan pinjam berbasis masyarakat dari program pemberdayan masyarakat (cerd) di kecamatan aluh-aluh kabupaten banjar. tesis program studi ilmu ekonomi program pascasarjana universitas gadjah mada yogyakarta. kartasasmita, g. (1996). pembangunan untuk rakyat: memadukan pertumbuhan dan pemerataan. jakarta: pustaka cidesindo. mubyarto. (1996). strategi pembangunan masyarakat desa di indonesia. aditya media. model pemberdayaan masyarakat..... (manat rahim; dkk) 33 nasution, l. i. (1996). taksonomi kemiskinan di indonesia. jakarta: grasindo. pangemanan, a. p. (2002). sumberdaya manusia (som) masyarakat nelayan. w\ nw rudict tripod com, 22. prayitno, h. & santosa, b. (1996). ekonomi pembangunan. jakarta: ghalia indonesia. prijono & pranarka. (1996). pemberdayaan konsep dan implementasi. jakarta: csis. soetrisno, s. (1996). impacts of urban and industrial development on groundwater, bandung, west java, indonesia. in symposium on groundwater and landuse planning, fremantle, western australia, 16–18 september 1996. white, b. (1996). dalam sitorus, m.t.f., agus, titik sumarti, dan gunadi (penyunting). memahami dan menanggulangi kemiskinan di indonesia. jakarta: grasindo. microsoft word 05_jonny_ak_rev2 improving the average session …… (jonny) 125  improving the average session evaluation score of supervisory program by using pdca cycle at pt xyz jonny accounting department, faculty of economic and comunication, bina nusantara university jln. k.h. syahdan no 9, palmerah, jakarta barat, 11480 jonny@binus.ac.id abstract pt xyz took people development tasks as important things in order to provide great leaders for handling its business operations. it had several leadership programs such as basic management program, supervisory program, managerial program, senior management program, general management program, and the executive program. for basic management and supervisory programs, pt xyz had appointed abc division to solely handled them, while the rest, abc division should cooperate with other training providers who were reputable in leadership ones. the aim of this study was to ensure that the appropriate leadership style has been delivered accordingly to the guideline to the employees by abc division to improve the average session evaluation score of the supervisory program by using pdca (plan, do, check, and action) cycle. the method of this research was by gathering quantitative and qualitative data by using session and program evaluation format to see current condition. the research finds that the reasons why the program is below target 4,10 score. it is related to the new facilitator, no framework, and teaching aids. keywords: session evaluation, program quality index, subject content index, facilitator evaluation index, training effectiveness, pdca introduction as one of world development indicators, market capitalization is very common among investor to evaluate whether a certain nation is attractive or not to them for investing their idle funds in that nation. in 2012, the market capitalization of indonesia amounted to us$ 428,2 billion (the world bank, 2016) and it has been reported that 43,72% of this number was derived from top ten companies (sutyanto, 2013). one of these companies is pt xyz which is also interesting to be observed on human capital management perspective in order to reveal how it handle its people so that it could derive such astonishing performance among indonesian companies. this company, naming pt xyz, is one of the most reputable companies in indonesia. it has believed that people are one of its important parts of its business sustainability growth. therefore, it has put people as part of its strategies in order to win the market and develop its competitive advantage aside of its competitors. it is why this company has known for its commitment on people side and won several awards regarding human capital management. furthermore, it has put people on its mission statement to ensure that its management has committed to people development when developing and nurturing its business. regarding people development, the company has long realized that there are two functions of its people competencies that need to be nurtured, they are technical and leadership skill. for its technical skill development, the company has decided to delegate this responsibility to its business function with basic thinking that only business function knows what it takes to develop its required 126   journal the winners, vol. 17 no. 2, september 2016: 125-132  people competencies. while for leadership skill, the company still believes that it should be handled by its self at head office. this policy is based on quality management principle, among these principles is leadership (hessen, 2015). this principle states that leaders should be able to set a goal and mobilize its people towards it. according to kaplan (2004), it has stated that it is important to ensure the availability of qualified leaders at all levels to mobilize the organizations towards their strategies. based on this guideline, the company has further appointed abc division, which division’s roles are to develop the company’s people and to handle the company’s all level development programs, such as basic management and supervisory programs. while the rest programs are consisting managerial program, senior management program, general management program, and executive program are to be handled by cooperating with training providers. this is done because the company needs to make sure that its people pose the same leadership style when handling its business operation. therefore, it has set up leadership competency guideline for abc division to conduct its program in order to ensure that the appropriate leadership style has been delivered accordingly to this guideline. in conducting this supervisory program, abc division usually asks the favor from other affiliated training centers to provide appropriate facilitators to deliver several sessions during the supervisory program. after the session, participants who are from all affiliated companies are asked to evaluate how well the facilitator has delivered the sessions (fei). meanwhile, for each of its session, abc division takes full responsibility to construct and develop it into the program based on the previous mentioned leadership competency that is required when the participant is about to be promoted to the certain supervisory position in its related affiliated company. these sessions are also evaluated by participants to see how well the sessions meet their needs to acquire leadership competency (sqi). last but not least, the whole program is also evaluated to see how well the program served the participant needs in acquiring leadership competency so that he/she can boost his/her career (pqi). this is very important in order to see whether the program has been effectively conducted and suitable for its participant in terms of training satisfaction and transfer. those mentioned indexes are the indicators for the company to ensure that the reaction of the participants is favorable in order to be able to pursue the next steps as proposed by kirkpatrik (2009), such as learning, behavior, and results. therefore, the company has set the target of 4.10 as the favorable indicator to reveal that participants give the positive reaction to the program. however, up to batch 46, the average scores for pqi, sci, and fei are below targeted 4.10 which were 4,19, 3,95, 3,93 respectively for the last batch of 46. of course, this condition is not acceptable because these indicators have shown that the program is not effective yet. therefore, it has triggered with research gap which then becomes research question which is about why the average session scores (pqi, sci, and fei) are below required 4,10 as an indicator of its effectiveness and how to improve them. to address this problem, abc division head has formed a team to improve this condition by conducting pdca cycle as its accepted methodology in the team so that those indicators can be above the required 4,10. the result then is important for the division in order to pay its accountability not only for its top management but also its affiliated companies’ management in order to provide reliable leaders which have been trusted to this division to conduct their development issues. based on belker et al., (2012), leadership is about how a person sets its goal and leads its people towards the goal. this skill can be born or learned, therefore, it is possible to make an intervention on people to improve their leadership skills. according to this belief, pt xyz has set its guideline to nurture its people in order to have the appropriate leadership skills required by its business operation. in order to accomplish this task, pt xyz has realized that it needs to set up its leadership skills guidelines so that every leader poses the identical leadership style when handling its business improving the average session …… (jonny) 127  operation. in doing so, among several theories, the company has picked the power of leadership in which there are five levels of leaderships such as highly capable individual, contributing team member, competent manager, effective leader, and level 5 executive (maxwell, 2013). this theory has been implemented in its leadership program pipelines as basic management program, supervisory program, the manager program, the senior manager program, the general manager program, and the executive program. among these programs, they share the same leadership competency as their basis in developing people’s leadership skill naming leadership competency. according to kaplan (2004), leadership competency model focuses on the specific competencies desired from leaders. in developing this model, among several theories, the company has selected belker et al., (2012) in order to develop this competency. it is consisting of vision and business sense (vbs), competency focus (cfo), interpersonal skill (isk), analysis and judgment (aju), planning and driving action (pda), leading and motivating (lmo), teamwork (two), drive, courage, and integrity (dci). this competency has served as standard which based on harris (2014), it can be the training design for abc division to provide the suitable sessions to develop the needed leadership skill which are consisting of effective first line manager (eflm), leading empowered team (let), situational leadership (sl), coaching and counseling (c&c), managing resistance (mr), people problem solving (pps), execution management (em), problem solving and decision making (prosdem), leading effective meeting (lem), and managing up (mu). these sessionsare in line with what belker et al., (2012) has said on the leadership skills that should be posed by a leader. those sessions are further developed by abc division using contemporary practices related to leadership practices in business operation which are further validated using pre-test to its leaders on whether it is suitable to be further delivered to the participants. after having its validation and approval from its top management, abc division is about to conduct the training. however, previous research and literature related to this subject matter are still rare except harris (2014), which has stressed out that there is the strong relationship between trainer style and learner orientation in predicting training outcomes. the training outcomes such as training satisfaction and outcomes, the company has decided to use internal and external facilitator among its group to deliver the subject matter in the class training to in order to ensure the training satisfaction and transfer. it has further set out 4.10 as the target to indicate that the training outcome has been delivered well. this index is further set out because based on kirkpatrick (2009), this is the very first gateway for the participant in order to see whether the program is already suitable for them or not. this moment of truth is very important because it will determine whether the participant will pursue the other step of training effectiveness such as learning, behavior, and results. furthermore, the company has long posed improvement culture where its people believe that anything in the company should and could be improved in order to achieve the higher level of achievement and satisfaction. there are several methods that the company has utilized especially in this paper, the company has decided to use pdca cycle as proposed by mccarty (2005). based on this method, there are four phases in order to improve the outcome of training effectiveness such as plan, do, check, and action. in the phase of plan, the team will identify and analyze the problem which can be done by gathering data, analyze the gap, and develop the plan. after that, in this phase of do is intended to implement the improvement plan in order to eliminate the root cause of the gap found in the previous phase. next is check that the team will compare the result with the target. if the result is satisfactory, then it can proceed to the next phase. otherwise, they should return to the first phase. and the last is action. this phase is for the team to standardize what solutions are effective to eliminate the root causes. by using this method, the company wishes to improve its training practices, so that it can also add new knowledge related to training management. it is especially the knowledge related to in-class training matters that is not only on what and how to 128   journal the winners, vol. 17 no. 2, september 2016: 125-132  conduct the training but also importantly as proposed by harris (2014) that the relationship between the trainer style and learner orientation on training outcome. methods in order to handle the problem, the team has adopted pdca (plan, do, check, and action) cycle based on mccarty (2005). as described in the previous section, this cycle consists of four phases such as plan, do, check, and action and is widely used to improve any process in the business in order to gain higher achievement or better qcd (quality, cost, and delivery) of its products or services. due to its similarity to this method, it is also suitable to be used in order to improve the average session evaluation of the supervisory program of this research intended to be accomplished. the following section elaborates more on what to do during each step based on mccarty (2005). in the phase of plan, the planning is done by conducting several steps such as (1) gathering quantitative and qualitative data by using session and program evaluation format to see current condition. in order to accomplish this step, the team has distributed questionnaires to all participants of supervisory program batch 46 which consists of 30 persons from all pt xyz’s affiliated companies. the questionnaires consist of three parts to evaluate program quality index (pqi), subject content index (sqi), and facilitator evaluation index (fei) of the program. several exemplary questions of these questionnaires are according to jonny (2016), such as (a) the program content meet its stated objectives, (b) the facilitators are able to maintain and encourage participation, (c) there is appropriate use of case discussion, examples, group work, and other means to aid understanding of the content, (d) the staffs are courteous, helpful and provided the trainees with professionalized attention, (e) the facilitators use practical illustration and or demonstrated an understanding of practical issues, (f) overall program is very helpful for the trainees in creating practical ideas to improve his or her performance. (2) using qualitative data to find its roots causes by using cause and effect diagram. (3) design the scenario improvement plan as the countermeasure on the problem. after having the improvement scenario, the team starts to implement the countermeasure to eliminate the root cause of the problem. in the phase of do, all alternative solutions are generated and selected to find the best possible solution to be conducted. furthermore, if in the field the selected solution is found to be not applicable, then the team will conduct small pdca cycle as its problem identification and corrective action in order to make sure the plan is fully implemented. next, the check phase, the team is about to evaluate the result of all implemented solution on whether it is already effective or not. this phase is needed in order to ensure that all implemented solutions are really correlated as countermeasure so that the targeted training outcome from the company can be reached. if the case is not as it is, then the team may look back on the problem as described in phase plan. the action phase is the final phase of the pdca cycle. in this phase, all the effective solutions which have been proven in its efforts to achieve the targeted level are all to be standardized as the effective scenario. therefore, it can be served as additional new knowledge as the contribution to the greater knowledge on training management especially in conducting the session in class. although this method is familiar with manufacturing fields, however through many types of research and practical applications, it has been proved that it is also suitable in the service field. therefore, it can also be served as an appropriate method for improving the training program. the company also finds this method is simple than other available methods. therefore after having trained, the team starts using this method to improve the program. improving the average session …… (jonny) 129  results and discussions in this section, the team elaborates more on the result of its effort to improve the supervisory program by using the pdca cycle as their method. they have used training documentation of batch 46 as the base in using pdca cycle. this batch consists of 30 people who are both already supervisors or supervisors to be that have been sent by their related companies to attend the supervisory program consisting of ten sessions and five-days training in the head office of pt xyz. those 30 people are then to be the respondent to the team in order to investigate and improve the program. the eligibility is based on their participation in the program as assigned by their companies. for additional information, some of them have also attended basic management program to describe their maturity on the management matters. this company has further renamed the program as the first-line manager to adjust their roles are first-line management role in the company. furthermore, about the result, it has been further elaborated in the following session pdca. in the plan phase, the team has gathered qualitative and quantitative data from the two-form questionnaires that being feedback by the participants every time they finish the session and once the program has been completed. the first form of the questionnaire is named as session evaluation form in order to assess sci and fei and program evaluation to assess pqi. for assessing sci and fei, the team uses five-likert measurement to let the participants give feedback from 1 (strongly disagree) to 5 (strongly agree). the questions used in this form are such as (1) the session content meets the stated objective, (2) the concept or skill presented will be helpful to the job, (3) there is appropriated use of case discussion, like group work to aid understanding of the subject, (4) the handout and or materials are designed and organized to aid understanding as sci session. then, in fei session, the questions are (1) facilitator is well prepared and organized for the session, (2) facilitator demonstrates the competence in the subject matter, (3) facilitator is able to communicate issues and concept clearly, (4) facilitator uses practical illustration and/or demonstrated an understanding of practical issues, (5) facilitators is able to maintain and encourage participation. for assessing pqi, another form using five-likert measurement is also used in order to assess the effectiveness of the program which has already conducted. in that form, there are several questions such as (1) the program content meets the stated objectives, (2) the program is well composed and all arranged to support the effective learning process, (3) overall the program is very helpful in creating practical ideas to improve the performance as program effectiveness section. for management program, the questions are (1) staffs are courteous, (2) staffs are helpful, and (3) staff provides you with professionalized attention. while for facility related, there is one question which is the room set up is ready, and the equipment is in working order. from these forms, the team has gathered the questionnaire forms, input the feedback quantitatively into the system, and has calculated the result is giving. the following results such as pqi is 4,19, sci is 3,95, and fei is 3,93. from these results, it can be concluded that the program is not effective if the targeted index is 4,10 out of 5,00. therefore, the team proceeds to the second step which is gathering the qualitative data that may be found in those forms left by the participants as input for the team. for the qualitative data gathered from those forms, there are many inputs on how the program should be conducted. this can be understood by reviewing their profile which can be classified as trainees with high learning orientation as introduced by harris (2014). from those scattered qualitative feedbacks gathered from participants, the team utilizes the fishbone diagram or cause-effect diagram in order to analyze why the program has considered not effective yet by its participants as shown in figure 1. 130   journal the winners, vol. 17 no. 2, september 2016: 125-132  figure 1 qualitative data which is analyzed by using fishbone diagram figure 1 has revealed out that there are several root causes on why the program is not considered effective yet. first, the contents of the program are still considered as confusing because there is no framework for participants to figure it out on what is the program intended for them. second, regarding the company policy to combine external and internal facilitators among the group, whoever is appointed as the facilitator, they should not be considered as new one although in fact, they are totally new. this is in line with the finding of harris (2014) that the trainer competency is also matters regarding learner with high learning goal orientation. third, the teaching strategies that used during delivering the subject content are considered boring which might make participants lose their focus on the matters. after having root causes validated, then the team also gathersanother qualitative data to explore more on how to improve the teaching method by conducting improvement scenario plan as described in table 1. table 1 improvement scenario plan voice of participants mode of teaching method slide case games multimedia slide contains typo and confusion x need exercise to figure it out x need some refreshments x need audio visual to figure out the concept x from table 1, it can be concluded that there should be several countermeasures to be related to slide, case, games, and multimedia in order to improve the teaching quality during the sessions which will be elaborated more in the following section. after the plan phase, next phase is do. after conducting the analysis, the team has come up with several improvements based on the improvement scenario plan such as (1) improving the teaching policy where facilitator arrangement should be a combination of 80% experienced and only 20% new with prior briefing to make them more confident and not seem really new about the session, (2) content should be based on framework that can be seen in figure 2. improving the average session …… (jonny) 131  figure 2 framework of supervisory program figure 2 gives the whole picture of the supervisory program. it is said that the program is about to improve the participants' leadership skill related on managing self, people, and the job with intended leadership competency and related section. by using this framework, the participants have a clearer understanding of the program. the content is also equipped with several teaching aids such as proper slide, case, games, and multimedia as planned in the scenario. after implementation on the next batch which is 47, the team pursues the next phase. after the implementation, in the phase of check, the participants of the batch 47are asked to fill out feedback forms to the team which revealed out pqi is 4,55, sci is 4,21 and fei is 4,21. based on these results, the program can be considered as effective and therefore it can proceed into the next phase. in this phase, action, the team has standardized the several rules. first, facilitators are a combination of 80% experienced and only 20% new ones. this policy is needed in order to maintain the quality of knowledge transfer during the program. if the program is conducted by all new facilitators, then the quality of the program will be difficult to be managed. while if all the facilitators are experienced than the institution, it will not have any opportunity to do facilitator’s generation in case that those experienced ones decided to leave the institution for the new career. it cannot be managed by 50-50 rules because from the survey, the participants have stated that they need experienced facilitators over new ones since due to they are assigned to learn leadership skills, therefore, they need to get it from experience ones. however, if there is a new one that should be asked to deliver the material, the institution has made sure his/her readiness through rigorous briefing so that the quality of the program is well assured. second, the content should be based on the framework. the survey also reveals that the content that has no adequate framework that will cause the participants find the difficulty in understanding the material. this phenomenon is understandable because the participants come from the company with holistic view culture. they are already trained to see the big picture through the framework of ideas. this is needed in order to make them buy in with the training. after understanding the framework, then they will believe in the content and make it easier for the facilitator to deliver the material. third, several teaching aids that used are the slide, case, games, and multimedia. some content of the leadership program are difficult to be understood, therefore, they need some aids to stimulate their understanding. thanks for the sophisticated technology advancement because the facilitators can make the means to be used during delivering the material in the class such as slide, case, games, and multimedia. the use of these aids has proved the incremental of the session evaluation score, therefore, those aids are standardized as mandatory when the facilitator is about to deliver the material in the class. 132   journal the winners, vol. 17 no. 2, september 2016: 125-132  conclusions after conducting the research, the team has found that the reasons why the program is below target 4,10 score are related to the new facilitator, no framework, and teaching aids. therefore, after doing these improvements, the score is improving to above targeted 4,10 score. the additional contribution to the knowledge that can be derived from this paper are (1) trainer combination should be paid attention, (2) use of framework, and (3) use of teaching aids such as proper slide, case, games, and multimedia. however, this research has some limitation. first, the participants as research objects are different from batch 46 and 47 which may result in biased results. second, the questionnaires forms should be further validated as input for future research. the last, the interaction of those solutions has been neglected as its practicality reason which in the future research it can be input for better research. references belker, l. b., mccormick, j., & topchik, g. s. (2012). the first-time manager. us: amacom. harris, t. b, wonjoon, c., hutchins, h. m., & chiaburu, d. s. (2014). do trainer style and learner orientation predict training outcomes? journal of workplace learning, 26(5), 331-344. hessen, s. c. (2015). iso 9001:2015 and the 8 quality management principles to take you to the head of the class. retrieved may 31st 2016 from http://pilgrimquality.com/blog/iso90012015-quality-mgmt-principles/ jonny. (2016). training effectiveness analysis at pt xyz using kirkpatric model and return of training investment (roti). journal of binus business review, 7(2), 137-141. kaplan, r. s., & norton, d. p. (2004). strategy maps: converting intangible assets into tangible outcomes. massachusetts, usa: havard business school publishing corporation. kirkpatrick, j., & kirkpatrick, w. k. (2009). the kirkpatrick four levels: a fresh look after 50 years 1959-2009. retrieved february 11th 2016 from http://www.kirkpatrickpatners.com/portals/0/resources/kirkpatrick%20four%20levels%20wh ite%20paper.pdf. maxwell, j. c. (2013). the 5 levels of leadership. us: hodder & stoughton general division. mccarty, t., daniels, l., bremer, m., & gupta, p. (2005). the six sigma black belt handbook. usa: mcgraw hill. sutyanto, d. (2013). indonesia’s top ten companies ranked by largest market capitalization. retrieved may 31st 2015 from http://www.indonesia-investments.com/finance/financialcolumns/indonesias-top-ten-companies-ranked-by-largest-market-capitalization/item637. the world bank. (2016, 31 may). market capitalization of listed domestic companies (% gdp). retrived may 31st may 2016 from http://data.worldbank.org/indicator/cm.mkt.lcap.cd microsoft word 03_mn_son wandrial_rev2 the relationship of mbti and student …… (son wandrial) 103  the relationship of mbti and student gpa score in binus management class 2015 son wandrial management department, school of business management, bina nusantara university, jln. k.h. syahdan no.9, palmerah, jakarta barat, 11480 snowalrival@yahoo.com abstract this article identified the personality type of students by using mbti models. there are 16 personality types in the mbti. the method applied was the mbti approach where the type and composition of the questions related to the mbti were taken from the daft’s book. questionnaires were distributed through discussion forum binusmaya to all students in three classes that the writer taught. the questionnaires were distributed through discussion forums, and there were about 158 students, but only 143 students who returned it. there were 41 male students and 102 female students. the result shows that the majority of students have approximately 51,04% introvert type and 58,04 % of students have the sensing type. the students with gpa more than 3,5 are isfj type. keyword: mbti, personality type, gpa introduction in interacting with others, nature and human behavior can be different; a simple example is the writer could see the students’ behavior in the class as diverse. there are diligent students that always come on time, while there are students who are always late. there are also students who always sit in the front row, while others prefer to sit close to the wall at the back of the class. as a lecturer, the writer would often find the students who always have a chat with friends, especially those who sit in the back row, also many of those who pay attention and take notes when the lecturer explained the lecture material. there are also classes where many students who have rated above average and some are below. it is very diverse properties and behavior of students that the writer meets in the classroom. the writer’s teaching experience in two parallel classes that students show different behavior. for example, there is one subject that uses five textbooks, while there is one class that almost all students can have four of five textbooks that used in accordance syllabus, while students in the other class can only have two textbooks, whereas all of the books can be purchased at the book store. in the assessment of the middle or end of term exams, the first class to have a score that is much better than the second class, as well as in terms of presentation of the course material. if you want to change a person's behavior, it must first change the mindset of the person. if the mindset has not changed, then the behavior will be difficult to change. the diverse behavior of the students, especially the negative behavior will have an impact on the effectiveness of learning in the classroom. if the classroom atmosphere is quiet and gets a full response from the student, then this is the ideal condition desired by the faculty and the students themselves. this article tries to understand what the background of the student's behavior using cognitive approach (cognitive style) to identify the type of personality of students by using a model of the 104   journal the winners, vol. 17 no. 2, september 2016: 103-112 mbti. by understanding the type of personality of students then faculty can design appropriate forms of learning so that the student's behavior could have been better and the learning objectives will be achieved. also, this article is to determine the relationship mbti with a gpa of students, especially students with a gpa above 3,5. methods many experts are conducting research on human behavior and concluding several factors that can be used as a determinant of nature and human behavior, such as personality, the value that is believed, motivation, and cognitive style (cognitive style). daft (2005) has mentioned there are two approaches in cognitive style, like herman whole brain model and myers-briggs type indicator (mbti). this article uses the mbti approach where the type and composition of the questions related to the mbti are taken from the daft’s book. questionnaires are distributed through discussion forum binusmaya to all students in three classes that the writer teaches. the writer asks students to download, print, and fill out the questionnaire. there are 32 standard questions in the questionnaire, and the students are asked to choose one of two answers that provided for each question. furthermore, students return all the questionnaires that have been answered and then they are calculated and given a score to the answers that given in accordance with the four parts of the mbti if the student is in the category of extrovert/introvert, sensing/intuitive, thinking/feeling, and judging/perceiving. the scoring explanation for each answer is already available in daft’s book. after scoring is completed, it will be seen the form of the personality of the students based on the combination of all four sections of the mbti, such as estj (extrovert sensing thinking judging) or intp (introverted intuition thinking perceiving). there are 16 forms a combination of personality. there are many tools that can be used to understand the human personality, one of them is developed by katharine briggs and isabel myers during world war ii. it can be seen in figure 1. figure 1 grouping mbti the relationship of mbti and student …… (son wandrial) 105  they both come from the united states and develop a theory of personality from the concept of carl jung, the swiss psychologist, and give birth to the myers-briggs type indicator (mbti). mbti history begins with carl jung, the founder of analytical psychology (wang et al., 2012). jung has believed that people get energy from the outside world (extraversion) or their own internal world (introversion). he also observed that people retrieve information (perceiving) or organizing information and lead to the conclusion (judging). although at first, this indicator is used to the world of work but in its development, it can be used in various aspects of life such as work, school, and social community. there are 16 mbti personality types, which is an indication of one's personality, of course once before through a test. table 1 shows the description scale of mbti preferences. table 1 description scale of mbti preferences scale descriptions e/i energy sources – extraversion/introversion extraversion (e), they enjoy the time spent with more people and feel less comfortable to spend time alone. refers to the act or the circumstances in which a person's energy is obtained from the outside world. extraverts enjoy socializing and tend to be more enthusiastic, assertive, active speaking. introversion (i), introverts prefer self-reflection rather than social interaction. they also prefer to observe before participating in an activity. introverts tend to be quiet, 'peace', and reserved. note: introverts prefer individual activities over community activities, not to be mistaken with shy people are afraid of social situations. s/n – perceiving mental function: "data gathering" (what do you first notice?) sensing (s), refers to the processing of data through the five senses. sensing the type of people focus on the present and prefer to "learn by doing". they are concrete thinkers who know the details. they are more excited by the practical use of an object / idea than the theory behind it. intuition (i), they easily see the big picture rather than the details. it refers to how individuals process the data. people type that have sharper intuitive for meaning and patterns behind the information. an intuitive type of person is more focused on how this time will affect the future. they have been able to understand the different possibilities and abstract concepts. t/f judging mental function: "decision making" (how do you prefer to make decisions?) thinking (t), thinking type person is a person who objectively and bases their decisions on logic and real facts. it refers to the likewhere people make decisions. they tend to analyze the pros and cons of the situation and inconsistencies. they prefer to be task-oriented. feeling (f), people are more subjective taste. they base their decisions on principles and personal values. when making decisions, they consider the feelings of others. it is best to maintain harmony among the group. they are more governed by their hearts. scale descriptions j/p – orientation (how people express perceptions or judgments in the outer world) judging (j), people of this type have a tendency to organized and quick. referring to how the outwardly present themselves when making decisions. they prefer to choose the sequence outlined a schedule for the work. they are more oriented on the ending result rather than the process. perceiving (p), prefer flexibility and live their life with spontaneity. they do not like the structure and prefer to airadaptation to the new circumstances of the plan for it. they tend to be open to new options and experiences. when working on a pro-project, they enjoy the process rather than results. 106   journal the winners, vol. 17 no. 2, september 2016: 103-112 there are 16 personality types in mbti. each personality type is a combination of four letters, which has its own meaning. personality classification shows system dynamics and complex relationships of personality. the first and fourth letters indicate the attitude or orientation because they have to do with how a person interacts with the world. the second and third letters show mental function because it is the basis of how the brain works. two letters in the middle are called the pairing function. individual personality type is described as one of the sixteen possible combinations of these preferences. for example, an entp would have a preference for extraversion, intuition, thinking, and perception. explanation of each personality type can be seen in table 2. table 2 16 mbti personality types sensing types intuitive types in tr o v er ts istj quiet & their distinctive trait is reliable. humble and very thought of responsibility. they will always try to fulfill the commitments that they launched. they are the ones who tend to keep quiet and serious, they do not say much, but a good listener. they are careful, reserved and demanding. value traditions and loyalty. isfj thorough, accurate and painstaking. committed and steady in the meeting. the persons are warm and helpful. self-effacing; they prefer to finish their work outside the spotlight. the highest satisfaction when they are making themselves useful and taking care of other people. they do their job very seriously and have a prominent organizing talent. infj want to understand what motivates people. those people are essentially warm and understanding. they have a strong understanding of human nature. synchronizers, recognizable from his complex personality and has so many thoughts and feelings. having the desire to understand the things that motivate and inspire people. conscientious and committed to the values of where it is located. intj original mind and great drives for implementing the ideas. they are very conscious of their own strength and not doubt their ability. they are usually confident and not allow themselves disrupted by conflict and criticism. people personality type is usually very successful career as they have both the competence and determination. they are people who are analytical and witty, skeptical, and independent. istp tolerant and flexible, observers. they maintain their own individuality and are happy to apply their skills to new tasks. they are people who are quiet and realistic, very rational, and very firm. they are not particularly fond of obligations; but if you give them space, they are the ones that are not really complicated, sociable and jovial. believes in themselves and are very independent. organize facts using logical principles, values efficiency. isfp friendly, sensitive and kind, enjoy the present moment. with the optimistic nature and does not talk much. they are people who are gentle, modest, and reserved. they also are good listeners who frequently searched for, and others feel comfortable accompanied them. they handled the daily life well and liked their privacy. this type is the most likable and most friendly of all personality types. enjoyed the current state and what happens to the environment. infp in the workplace, this type is a friend and partner who likes to help and loyal. very cautious and therefore appear shy and reserved to others. they share their rich emotional life as well as their strong opinions with very few people. but people often misjudge their cool and reserved. seek to understand people and to help them fulfill their potential. curious, quick to see possibilities, can be catalysts. intp want to know what holds the world together deep down inside. seek to develop the logical explanation. timid and not very talkative. they like to get to the bottom of things; curiosity is their biggest boost. they do not need much more to their happiness because, for they are the ones who are humble. have unusual ability to focus in depth to solve problems in the area of interest. the relationship of mbti and student …… (son wandrial) 107  table 2 16 mbti personality types (continued) sensing types intuitive types e x tr a v er ts estp flexible and tolerant, theories and conceptual explanation bore them. they are full of charm, full of energy, real actors, jolly and spontaneous. they have ideas and a clear vision despite being in a difficult situation. this makes them known as fixers. a pragmatic approach to gets the results. focus on the here and now, spontaneous, enjoy each moment that could make it active with others. esfp outgoing, friendly and accepting. they are people who are happy. they enjoy being with other people. intelligent, articulate, witty and full of charm, they like to be the center of attention. they are not afraid of things they do not know: because they are flexible and creative, they quickly adjust to new situations and used it well. using reason and realistic approach. flexible and spontaneous, and quickly adapt to the new environment. enfp enthusiastic warm and imaginative. they are people who are creative, cheerful and open-minded. they are full of humor and spread the spirit of enjoying life. this personality type is a keen observer and alert; they will not miss any of the events around them. this type is very proud of its independence, both inside as well as outward, and do not like to accept a subordinate role. therefore they have a problem with the hierarchy and authority. entp full of energy and love to take a position in the center of attention. they loved the diversity in both the professional and personal lives. fast, has a brilliant idea, encouraging and talkative. having a passion for solving new problems and challenges. accepting the possibility keep and analyze it. bored with the routine. estj happy to assume the responsibility and welcome challenges. they are stable and reliable. contact with outsiders is very important to them; they easily blend and very active. this type is often found in executive positions as they combine commitment, competence, and ability to function. practical, realistic, using the fact. accurate, fast moves to implement the decision. esfj they are always willing to appreciate the good qualities of others and to forgive the weakness of the man. they are a popular people are full of energy. they are reliable, well-organized, and are happy to help. they are the most sociable of all personality types. social contacts are very important to them. this type shows their feelings openly and honestly. their strength lies in themselves conscientious and reliable and not on their flexibility and spontaneity. enfj extrovert and helpful. others think they are very friendly and inspiring, especially because they always want to see the best in others. a sense of humor, energy, and optimism they attract others. warm, empathetic, responsive and accountable. they are always trying to fit in with everybody and want their relationships harmonious and satisfying. her emotions quickly influenced by the needs and motivations of others. entj this type is born as a leader, competent, energetic and responsible. confident and independent. they radiate enthusiasm and energy. this type pursues their objectives actively and energetically. there's nothing they love more in-banding new challenges. well informed, read, happy to increase knowledge and share it with others. honestly, quick decision-making. results and discussions the questionnaires are distributed through discussion forums and there are about 158 students, but only 143 students who returned it. there are 41 male students and 102 female students. the results are shown in table 3. tabel 3 extrovert introvert composition male female extrovert 25 43 introvert 18 57 the findings based on the table 3 conclude that extrovert and introvert personality is more common in women than men students and more introvert female students than extrovert. therefore, this shows the conditions in which classes are dominated by students who behave in a quieter and 108   journal the winners, vol. 17 no. 2, september 2016: 103-112 more attention to the lesson. with this condition then certainly the classroom atmosphere will be relatively quiet and comfortable place to study. tabel 4 thinking feeling composition male female thinking 15 30 feeling 26 72 interestingly in decision making, there are more male students that rely on feelings in decision making rather than logic (thinking). the writers certainly knows that 80% of men are dominated by the left brain (logic) and 80% of women are dominated by the right brain (feeling). the male should rely more on logic (thinking) for the decision but from the results of this study (table 4). it indicates that in this classroom is much more a man who used feelings before deciding something, that means they are more considerate of others' feelings, subjectively and trying to maintain harmony. as for the female students show ideal conditions where the use of thinking is lower, and the use of feeling are higher, as this is the ideal condition for women. table 5 shows the mbti results of management class in bina nusantara university. table 5 mbti results of management class binus sensing types intuitive types in tr o v er ts istj 10 students isfj 16 students infj 9 students intj 6 students 73 students 51,04% istp 7 students isfp 13 students infp 8 students intp 4 students e x tr a v er ts estp 4 students esfp 12 students enfp 12 students entp 3 students 70 students 48,96% estj 3 students esfj 18 students enfj 10 students entj 8 students 83 students 58,04% 60 students 41,96% from the above results can be seen mapping 16 mbti personality types, where the majority of students are introvert approximately 51,04%, this means that they are students who prefer to work in an activity that is individual rather than social interaction. sensing types students are the majority, that is 83 people or 58,04%, this means that they are students who are happy with a complete learning experience through processing through her senses, they do not like the heavy instruction in abstractions such theories and mathematical models. while intuitors like instruction emphasizes conceptual understanding. the relationship of mbti and student …… (son wandrial) 109  figure 2 mbti graph test results of management grade binus in figure 2, it can be seen the majority of the students’ personality is esfj (extrovert sensing feeling judging). it is 18 students or 12,58% of the total students surveyed. an explanation of these personality types can be seen in table 6. table 6 results of mbti with students’ gpa ipk introvert extrovert sensing intuiting thinking feeling judging perceiving < 2,50 13 14 17 10 7 20 19 18 esfj 2,51 – 3,00 29 31 31 29 17 43 29 31 esfp 3,01 – 3,50 17 16 19 14 11 22 16 17 isfp > 3,50 13 9 14 8 10 12 16 6 isfj table 6 shows that the students with gpa below 3,00 are mostly extrovert, the opposite of the students with a gpa above 3,00 are most have introvert personality. this means that they prefer individual activities and in processing the information, they have sensing types and are more relying on the five senses to absorb the lessons. uniquely in making decisions, many students who have feeling based, and it is probably because the majority of respondents are women. figure 3 students type graph with a gpa above 3,5 110   journal the winners, vol. 17 no. 2, september 2016: 103-112 figure 3 indicates that the majority of students with gpa above 3,5 have the type of isfj (introverted sensing feeling judging). they are individuals who are warm and helpful. they do their job very seriously and have a prominent organizing talent. the highest satisfaction is when they make themselves useful and taking care of other people. but they self-effacing; they prefer to finish their work without the spotlight. they are a real workaholic, quiet, friendly, responsible, and conscientious. they care about the feelings of others are trying hard to make harmony in the home and work environments. conclusions the final conclusion is students with gpa above 3,5 majority are introverted, sensing, feeling, judging. purposes of implementing the mbti are to identify the strengths and weaknesses of the individual as well as others. mbti is created to facilitate the understanding and appreciation of the differences between people. no type of behavior is better than others. in the application of the firstclass management, mbti is very useful to understand the personality type of the students and we can design a model of lecture or classroom atmosphere that can create classroom conditions more conducive to active and cooperative learning (tyagi, 2008). the mbti test should be done at the beginning of the semester so the professor could understand the personality types of students that they teach and be able to design more effective lectures. references daft, r. (2005). the leadership experience (3rd ed). thomson south western. tyagi, a. (2008). personality profiles identification using mbti test for management students: an empirical study. journal of the indian academy of applied psychology, 34(1), 151-162. wang, c., carney, s., parawan, j. (2012). myers-briggs type indicator manual. wc personality, inc. the relationship of mbti and student …… (son wandrial) 111  112   journal the winners, vol. 17 no. 2, september 2016: 103-112 microsoft word 07_untar_nawawi_rev1.doc factors of consumer …… (muhammad tony nawawi) 59  factors of consumer behavior that affect purchasing decisions on blackberry smartphone muhammad tony nawawi management departement, faculty of economics, tarumanagara university jl. letjen s. parman no. 1, jakarta barat 11440, indonesia tonynawawi@yahoo.com abstract this study aimed to determine factors of consumer behavior that affect to purchasing decision on blackberry smartphone with the case study in faculty of economics, tarumanagara university, jakarta. the population was all students of faculty of economics who used or were familiar with the blackberry brand mobile phone, with a sampling technique used was purposive random sampling and samples were taken by 200 students. the purpose of the study was to examine and analyze some factors that affect students in the decision to buy blackberry mobile phone brands and know the dominant factors that influence the purchase decision. the analysis used the method of multiple regression analysis and hypothesis testing and also testing conducted validity and reliability by using the help of spss (statistical program for the science society). the analysis shows that there is significant positive effect between the factors of cultural, social, personal, and psychological effect on purchasing decisions, with significance 0,000 < 0,05, and adjusted r square is worth 0,216, it means that 21,6% of purchase decisions are influenced by these factors. keywords: consumer behavior, purchasing decisions, student decisions, smartphone. introduction the development of mobile phones today has very rapidly increased, where the function of a mobile phone is not just as distance communication, but also to provide service convenience, comfort, and entertainment for its users. for example, it can be used to access the internet, email, social networking, music, video, games, and other features. today, the consumers who use the mobile phone are widely exposed to various types of products. each of them races to innovate products with different types, models, and technology, and then they tailor it to the needs of the profession, lifestyle, as well as an interest or hobby users. according to uddin, et. al., (2014), the mobile phone has diverse usages to different users in accordance with their necessities. with the dramatic increase in mobile phone usage in recent years, people take into account various factors while they decide to purchase a mobile phone. this study has put efforts to uncover the underlying factors those affect customers in choosing the mobile phone. one product of mobile phones is blackberry as a brand product from a manufacturer of mobile phones, in addition to the type of nokia, ericsson, and motorola is produced by research in motion. blackberry is first introduced in 1997 by the canadian company, research in motion that founded by a greek immigrant in city waterloo, canada. blackberry is a wireless handheld device phone that has the ability to push e-mail, facsimile, the internet, blackberry messenger, and various other wireless capabilities. privileged blackberry mainly lies in the push e-mail. by this service, customers can simply receive emails as quickly and easily receive sms (short message service). the original email has size 1 mb, but if it is accepted by the facility of blackberry push e-mail, the size could be 10 kb with fixed contents. besides that, the blackberry can also easily display attachment file 60 journal the winners, vol. 17 no. 1, march 2016: 59-66  formats such as pdf or microsoft offices like microsoft word, microsoft excel, and microsoft power point. nowadays consumer behaviors are very important for companies which aim to be successful in such an intensely competitive environment. to cope with intense competition and to influence consumer behaviors is inevitable for companies to consider the cultural, social, psychologic, and personal status of consumers. the main aim of the companies is to get the profit; therefore companies should understand behaviors of their consumers to keep the permanency of the situation and customers in buying their products. in this study, the factors affecting the consumers’ behaviors such as age and lifetimes, occupation, lifestyle, and personality are studied (yakup & jablonsk, 2012). blackberry begins to tune the consumer since first introduced in indonesia at mid-december 2004 by the operator indosat and starhub company. the users of mobile brands blackberry now are not executives anymore, but it has spread to the general public, especially the students. it makes blackberry sales increase extraordinary rapid in indonesia and can easily be found in the various mobile phone shop. the use of blackberry is now no longer to simply meet the requirements as a means of communication and information alone but has spread to the lifestyle because it gives the impression of the latest lifestyle trends and metropolis. related to this blackberry mobile communication device, the researchers want to know the dominant factors that can affect the users of blackberry mobile phones in buying this product, especially consumers’ student at the faculty of economics, tarumanagara university jakarta. based on that background, this study is conducted to determine (1) do the cultural factors have an influence on the decision to students in buying mobile brands blackberry? (2) do the social factors have an influence on the decision to the student in buying mobile brands blackberry? (3) do the personal factors have an influence on the decision to the student in buying mobile brands blackberry? (4) do the psychological factors have an influence on the decision to the student in buying mobile brands blackberry? (5) do the cultural, social, personal, and psychological factors have an influence on student's decision in buying mobile brands blackberry? while the purpose of this study is to empirically examine (1) the influence of cultural factors on product purchasing decisions of blackberry brand mobile phone on the student in faculty of economics, tarumanagara university. (2) the influence of social factors on product purchasing decisions of blackberry brand mobile phone on the student in faculty of economics, tarumanagara university. (3) personal factors influence the purchasing decision of blackberry brand mobile phone products at the student faculty of economics, tarumanagara university. (4) the influence of psychological factors on product purchasing decisions of blackberry brand mobile phone on student faculty of economics, tarumanagara university. (5) the influence of cultural, social, personal, and psychological on product purchasing decisions of blackberry brand mobile phone on students of faculty of economics, tarumanagara university. the results of this study are expected to be useful to increase knowledge and understanding consumer behavior in purchasing decisions and can be used as resources in the improvement of marketing strategies according to the needs of consumers. methods the population in this study are all the students in the faculty of economic, tarumanagara university that uses blackberry mobile brands. the sampling technique used in this research is purposive random sampling, which is one type of samples taken nonprobability sampling. where it has been determined the goal, which is expected to achieve the objectives of this study. the sample in this study is 200 students of economic faculties tarumanagara university that uses/and knows mobile brands blackberry by distributing the questionnaires to students to be filled by the conditions. factors of consumer …… (muhammad tony nawawi) 61  the validity test is used to determine the level of validity of the instrument (questionnaire) that used in data collection. this kind of test is performed to determine whether the items presented in the questionnaire really able to express exactly what will be studied. it is obtained by any score indicators correlate with the total score of the indicator variable, then the correlation results are more than the critical value at 0,05 significant level. an instrument is said to be valid if it is able to measure what is desired, and the high and low of the validity of the instrument indicates the extent to which the data collected does not deviate from the description of the variables in question. according to sugiyono (2012), “the means used is the analysis of items, where each value in each of the questions are correlated with the total value of all questions to a variable that using the product moment correlation formula”. the minimum requirement that is considered valid is the value of r count > r table of values. or a question is declared as invalid if the item total correlation value correction that question has the value greater than or equal 0,30. the value of validity test of these variables can be seen in table 1. table 1 item-total statistics variabel valid (corrected item-total correlation) culture 0,469 social 0,449 personal 0,606 psychological 0,449 purchasing decision 0,508 source: primary data (processed spss) based on primary data that has been processed with spss, then each item-total correlation weighting variables have values above 0,30 as the minimum requirement. this shows that all the variables in this study declared invalid, as seen in table 2. table 2 reliability statistics variabel cronbach's alpha n of items culture 0,649 3 social 0,629 3 personal 0,765 3 psychological 0,630 3 purchasing decision 0,687 3 source: primary data (processed spss) reliability testintends to determine the consistency of measuring instruments in use or in other words the instruments have consistent results when used repeatedly at different times.arikunto (2010) has said that for reliability test used cronbach alpha technique, in which an instrument can be said to be reliable if you have or alpha reliability coefficient of 0,6 or more. based on primary data that has been processed and analyzed using spss, then each item cronbach's alpha generates weighting variables cronbach alpha values > 0.60 as the minimum requirements. it shows that all the variables in this study revealed reliable. based on the analysis using spss, it can be seen the hypothesis testing in table 3. 62 journal the winners, vol. 17 no. 1, march 2016: 59-66  table 3 t test coefficientsa model unstandardized coefficients standardized coefficients t sig. b std. error beta 1 (constant) 1,087 0,251 4,327 0,000 culture 0,171 0,076 0,197 2,252 0,025 social 0,134 0,063 0,154 2,125 0,035 personal 0,060 0,055 0,074 1,087 0,278 psychological 0,189 0,066 0,217 2,887 0,004 a. depenent variable: purchasing decision source: primary data (processed spss) based on the results of table 3, the regression equation can be formulated as follows : y = 1,087 + 0,171 x1 + 0,134 x2 + 0,060 + 0,189 x3 x4 + e (1) explanation of the results of the regression equation in table 3 is if x1, x2, x3, and x4 value = 0, then the sum of the values of y = 1,087 units. if there is a change to value x1 for one unit and the other variables constant, the value of y will experience an increase by 0,171 units. while if there is a change to value x2 by 1 unit and the other variables constant, the value of y will experience an increase by 0,134 units. if there is a change to value x3 for 1 unit and the other variables constant, the value of y will experience an increase by 0,060 units. if there is a change to the value x4 by one unit and the other variables constant, the value of y will experience an increase by 0,189 units. explanation t-test results of each variable to answer the hypothesis in this study is as following (1) based on the results of the analysis conducted on spss calculations that significant value cultural variables, which means sig 0,025 < 0,05. in addition, the t count equal to 2,252 is bigger than t table with the 5% significance produced t table of 1,645. therefore, the hypothesis ho is rejected, and ha is accepted hypothesis. this means that there is the significant influence of cultural factors on purchasing decisions. (2) based on the results of the analysis conducted on spss calculation that values the significance of social variables, which means sig 0,035 < 0,05. in addition, the results amounted to 2,125 t arithmetic is greater than t table with the 5% significance produced t table of 1,645. therefore, the hypothesis ho is rejected, and ha is accepted hypothesis. this means that there is significant influence of social factors on purchasing decisions. (3) based on the results of the analysis conducted on the calculation of spss that the significant value of the private variable of 0,278 which means sig < 0,05. in addition, the results amounted to 1,087 t is smaller than the t table with the 5% significance produced t table of 1,645. therefore, the hypothesis ho is accepted, and ha is rejected hypothesis. this means that there is no significant influence of personal factors on purchasing decisions. (4) based on the results of the analysis conducted on the calculation of spss that psychological variables the significant value of 0,004, which means sig < 0,05. in addition, the results amounted to 2,887 t arithmetic is greater than t table with the 5% significance produced t table of 1,645. therefore, the hypothesis ho is rejected, and ha is accepted hypothesis. this means that there is significant influence of psychological factors on purchasing decisions. (5) based on the results of the analysis conducted on the calculation of spss (test results from f/test anova) that the value of variable significance of 0,000 which means sig < 0,05. in addition, the results amounted to 14,705 f count is greater than the f table with the 5% significance and df 4 and 195 produced 2,467 f table. therefore, the hypothesis ho is rejected, and ha is accepted hypothesis. this means that there is significant influence of cultural, social, personal, and psychological simultaneously on purchasing decisions. factors of consumer …… (muhammad tony nawawi) 63  table 4 model summary model r r square adjusted r square std. error of the estimate 1 0,481a 0,232 0,216 0,66249 a. predictors: (constant), psychological, personal, social, cultural b. depenent variable: purchasing decision table 4 explains that the regression coefficient (r) of 0,481 (48,1%), which means independent variables that can explain the effect of 48,1% and the remaining 51,9% is explained by other variables outside this research model.below is the result off test that are made: table 5 anovab model sum of squares df mean square f sig. 1 regression 25,815 4 6,454 14,705 0,000a residual 85,584 195 0,439 total 111,399 199 a. predictors: (constant), psychological, personal, social, cultural b. depenent variable: purchasing decision based on the results from table 5, it can be seen the significance of a variable factor of cultural, social, personal, psychological, and purchasing decisions is 0,000. it means that compared to the alpha (α) = 0,05, the value is still below it, so that it can be concluded that the concurrent significant influence these factors influence consumer purchasing decisions, or at least one variable x affects y with a 95% confidence level. results and discussions consumer behavior by swastha et al., (2012) is defined as the activities of individuals who are directly involved in obtaining and using goods and services, including the decision-making process on the preparation and determine the specific activities. while according to schiffman, et al., (2011), consumer behavior is the behavior exhibited by consumers in search of the purchase, use, evaluation and replacement products, and services that able to satisfy their needs. factors that influence consumer behavior is the cultural, social, personal, psychological. most of these factors are not considered by marketers but in fact should be taken into account to determine how far the factors that affect consumer behavior consumer purchases (kotler & keller, 2012). it can be seen in figure 1. factors that influence consumer behavior is the cultural, social, personal, psychological. most of these factors are not considered by marketers but in fact should be taken into account to determine how far the factors that affect consumer behavior consumer purchases (kotler & keller, 2012). it can be seen in figure 1. figure 1 factors affecting consumer behavior (source: kotler & keller, 2012) cultural factors : .culture .subcultures .social class social factors : .reference .family .roles and status personal factors : .age .work economic .lifestyle psychological factors : .motivation .perception learning .attitude 64 journal the winners, vol. 17 no. 1, march 2016: 59-66  figure 1 states that culture is what determining the desire and behavior to get the most basic values, perceptions, preferences, and behaviors of other important institutions. cultural factors provide the most comprehensive and influence in the behavior of consumers. marketers need to know the role played by culture, subculture, and social class. culture is a set of basic values, perceptions, desires, and behavior that learned by a member of the community of family and other important institutions. according to kotler and armstrong (2012) have included in this culture is a culture shift as well as the values in the family. while subculture is a group of people with a separate value system based on experience and common life situations. sub-cultures include nationality, religious, racial, and geographic region. and then the social class division of society is relatively permanent and organized by the members embraced the values, interests, and behavior that are similar. social class division of society is relatively homogeneous and permanent structured hierarchically and whose members embrace the values, interests, and similar behavior. social class is determined by a single factor, such as revenue but measured as a combination of occupation, income, education, wealth, and other variables. in some social systems, members of different classes maintain a certain role and cannot change their social position. consumer behavior is also influenced by social factors, namely group, family, and the role and status. the group is two or more people who interact to achieve individual or collective goals. some of the primary groups that have a regular but informal interaction, such as family, friends, neighbors, and colleagues. some of the secondary group, which has a more formal interaction and less regular. it includes organizations such as religious groups, professional associations, and unions. while the family is the organization that most important purchased by consumers in the community and have been thoroughly studied. marketers are interested in the role and influence of the husband, wife, and children in purchasing a variety of products and services. whereas, role consists of expected activity carried out by someone according to people who are nearby. each role carries a status reflecting an award that given by people. people often choose products that show their status in society. the personal factor is defined as a person's psychological characteristics that are different from other people to cause a response relatively consistent and enduring to the environment. buying decisions are also influenced by personal characteristics, namely (1) the age and stage of life cycle. people change the goods and services that they buy during his lifetime. taste for food, clothing, furniture, and recreation are often associated with age. buying is also shaped by the family life cycle stages that may be passed by the family in accordance with maturity. marketers often determine the target market in the form of life cycle stages and develop appropriate products and marketing plans for each stage. (2) work, one's job affects goods and services that they purchase. marketers try to identify the occupational groups who have an interest in the above-average products and services. a company can even specialize in marketing the product according to specific occupational groups. (3) the economic situation, the current economic situation will affect the choice of products. marketer of products that are sensitive to income observing trends in personal income, savings, and the level of interest. when the economic indicators point to recession, marketers can take steps to redesign, reposition, and change the product's price. (4) lifestyle, the pattern of a person's life that is embodied in the activities (work, hobbies, shopping, sports, social activities), interests (food, fashion, family, recreation), and opinions that are more than just a social class and a person's personality, lifestyle featuring patterns react and interact with someone overall in the world. (5) personality and selfconcept, personality of each person clearly affect behavior to buy it. personality refers to the unique psychological characteristics that cause a response relatively consistent and enduring to the environment itself. personality is usually described in terms of properties such as self-confidence, dominance, easy to get along, autonomy, self-defense, adaptability, and aggressiveness. personality can be useful for analyzing consumer behavior for the selection of specific products or brands. the last factor that influences consumer behavior is psychological factors. it is as part of the influence of environment where someone’s live in the presentwithout ignoring the influence of the past or anticipating the future. factors of consumer …… (muhammad tony nawawi) 65  consumer decision in buying a product is influenced by many factors, both from within oneself and from beyond the self or the environment. consumer behavior is a process a customer in making a buying decision, using and set goods and services purchased including the factors that influence purchasing decisions and product usage (lamb et al., 2010). the main factor influencing consumer behavior is the need factors such as culture and social class. meanwhile, according to berkowitz (2010), there are four factors affecting consumer purchase decisions, some of them are socio-cultural influences. the main factor influencing consumer behavior is the need factors such as culture and social class. social factors such as the reference group, the family, the role and social status of consumers, personal factors such as age, stage of life cycle, personality and self-concept, and psychological factors such as motivation, perception, learning beliefs, and attitudes. meanwhile, according to berkowitz (2010), there are four factors that influence consumer purchase decisions, namely the influence of situational (situational influences), the psychological influences, the influence of sociocultural, and the influence of marketing mix. while, the main factor influencing consumer behavior is the need factors such as culture and social class. personal factors such as age, stage of life cycle, personality and self-concept also influence consumer purchase decisions. according to berkowitz (2010), there are four factors that influence consumer purchase decisions, namely the influence of situational, the psychological influences, the influence of socio-cultural, and marketing mix influences. from these four factors, psychological factors are factors that arise from the consumers themselves. berkowitz (2010) has said that psychological factors that influence consumer decisions can be translated into five variables, namely motivation, personality, perception, attitude, and lifestyle. these five variables also give influence to the brand image in the minds of consumers. psychological factors include motivation, perception, learning beliefs, and attitudes. there are four factors that influence consumer purchase decisions that one of them is a psychological impact (psychological influences), in which psychological factors are factors that arise from within consumers. psychological factors that influence the consumer's decision can be translated into five variables, namely motivation, personality, perception, attitude, and lifestyle (berkowitz, 2010). this hypothesis is a temporary answer to the problem of research that the truth remains to be tested empirically. fromthe formulation ofthe problem, research objectives, the theoretical basis, which have been embodied in a theory can be seen in figure 2. h5 h1 h2 h3 h4 figure 2 relationship between researchvariables (source: kotler, 2009)         cultural social personal psyhological purchasing decision 66 journal the winners, vol. 17 no. 1, march 2016: 59-66  based on the theoretical framework above, it can be formulated hypothesis as follows (a) there is a significant influence of cultural factors on students’ decision in buying mobile brands blackberry; (b) there is a significant influence of social factors on students’ decision in buying mobile brands blackberry; (c) there is a significant influence of personal factors on student’s decision in buying mobile brands blackberry; (d)there is a significant influence of psychological factors on students’ decision in buying mobile brands blackberry; (e)there is a significant influence of cultural factors, social, personal, and psychological factors to student’ decisionin buying mobile brands blackberry. conclusions based on the analysis and discussion, it can be concluded that (1) there is a significant influence of cultural factors on purchasing decisions. (2) there is a significant influence of social factors on purchasing decisions. (3) there is a significant influence of personal factors on purchasing decisions. (4) there is a significant influence of psychological factors on purchasing decisions. (5) there is a significant influence of cultural, social, personal, and psychological simultaneously on purchasing decisions. references arikunto, s. (2010). research procedure a practical approach. jakarta: rineka reserved. berkowitz, e. n., kerin, r. a., & hartley, s. w. (2010). marketing (6th ed). newyork: mcgraw hill. kotler, p. (2009 ). marketing management. millennium edition. jakarta: prenhalindo. kotler, p., & armstrong, g. (2012). principles of marketing (14th ed). new jesey: printice – hall. kotler, p., keller., lane, k. (2012 ). marketing management (14th global ed). new jesey: printice – hall. lamb., charles, w., hair, j. f., mcdaniel, c. (2010). marketing. jakarta: salemba empat. schiffman, l. g., & kanuk, l. l. (2011). consumer behavior (9th ed). new jersey: printice hall. sugiyono. (2012). business research methods. bandung: alfabeta. swastha, b. d., & handoko, t. h. (2012). marketing management consumer behavior analysis (4th ed). yogyakarta: bpfe. uddin, md. r., lopa, n. z., & oheduzzaman, md. (2014). factors affecting customer’s buying decisions of mobile phone: a study on khulna city, bangladesh. international journal of managing value and supply chains (ijmvsc), 5 (2), 21 – 28. yakup, d., & jablonsk, s. (2012). integrated approach to factors affecting consumers purchase behavior in poland and an empirical study. global journal of management and business research, 12(15), 60 – 87. 150 journal the winners, vol. 15 no. 2, september 2014: 150-158 fdi in tourism sector and economic growth in sumatra utara parhimpunan simatupang1; abdul razak chik2 1business administration and humanities faculty, swiss german university edutown bsdcity, tangerang 15339, indonesia 2school of economics, finance & banking, universiti utara malaysia sintok, 06010 universiti utara malaysia, kedah, malaysia 1parhimpunan.simatupang@sgu.ac.id; 2arc@uum.edu.my abstract globalization and neo liberal policies such as liberalization and privatization have generated a significant growth for fdi and considered an important source for capital and foreign currency, capable of spurring economic growth in developing countries. one sector that received particular attention, due to its significant contributions towards economic development, especially in indonesia, is tourism. tourism investments in indonesia are mainly focused on the development of fully-integrated resort sites that help boost the construction of tourist facilities such as hotels and the development of the surrounding environment through social and cultural aspects. the total contribution of travel and tourism to gdp was idr736.3 billion or 8.9% of gdp in 2012. foreign direct tourism investments grew by 210% between 2011 and 2012, or at an annual compound average growth rate of 38% between 2006 and 2012. while the implications are at national level, not much could be gathered on the local perspectives. this paper intends to explore the implication of fdi in tourism sector towards economic growth in one of tourism attraction provinces in indonesia—sumatra utara. specifically, which economic factors contributed towards fdi inflows and their impacts on economic growth in sumatra utara. keywords: economic growth, fdi, tourist attraction, tourism abstrak globalisasi dan kebijakan neoliberal seperti liberalisasi dan privatisasi telah menghasilkan pertumbuhan yang signifikan bagi fdi dan dianggap sebagai sumber penting untuk modal dan mata uang asing, mampu memacu pertumbuhan ekonomi di negara-negara berkembang. salah satu sektor yang mendapat perhatian khusus, karena kontribusi yang signifikan terhadap pembangunan ekonomi, khususnya di indonesia, adalah pariwisata. investasi pariwisata di indonesia terutama difokuskan pada pengembangan situs resor terintegrasi yang membantu untuk meningkatkan pembangunan fasilitas wisata seperti hotel dan pengembangan lingkungan sekitarnya melalui aspek sosial dan budaya. total kontribusi perjalanan dan pariwisata terhadap pdb 736.3 miliar rupiah atau 8,9% dari pdb pada 2012. investasi pariwisata asing langsung tumbuh 210% antara tahun 2011 dan 2012, atau pada tingkat pertumbuhan tahunan gabungan rata-rata 38% antara tahun 2006 dan 2012. sementara implikasi di tingkat nasional, tidak banyak yang bisa dikumpulkan pada perspektif lokal. tulisan ini bermaksud untuk mengeksplorasi implikasi dari fdi di sektor pariwisata terhadap pertumbuhan ekonomi di salah satu pariwisata yang menarik di indonesia—sumatra utara. secara khusus, faktor-faktor ekonomi berkontribusi terhadap arus masuk fdi dan dampaknya terhadap pertumbuhan ekonomi di sumatra utara. kata kunci: pertumbuhan ekonomi, fdi, daya tarik wisata, pariwisata mailto:parhimpunan.simatupang@sgu.ac.id; mailto:arc@uum.edu.my fdi in tourism sector..... (parhimpunan simatupang; abdul razak chik) 151 introduction recently, it has been established that tourism has become one of the most significant export sectors in many developing countries and it not only increases foreign exchange income, but also creates employment opportunities, stimulates the growth of the tourism industry triggers overall economic growth (samimi, sadeghi, & sadeghi, 2013). tourism is one of the world’s largest industries accounting for over one-third of total global service trade (endo, 2006). tourism industry agglomerates many separate activities that come together in the production and consumption of tourism (unctad, 2008). foreign direct investment (fdi) is one of the routes through which developing countries can carry out tourism, but the dynamics of fdi in this dynamic sector, and its implications, have been relatively little studied. there is very little empirical information about the extent of tourism-related fdi in the global economy or its overall impact (unctad, 2007). foreign direct investment (fdi) in tourism would help developing countries to mitigate the effect of adverse development gap between developed and developing countries (unctad, 2007). the economic impacts of tourism can be measured in many terms, such as output, income, employment, value added, taxes, etc. the magnitude of the relative impacts depends upon the relative magnitude of the direct and the derived effects. the magnitude of direct effects can be decomposed into four factors: tourist intensity, the level of daily consumption for the type of overnight stay, the composition of tourist activity by the type of overnight stay, and employment content of tourist related activity/the opportunity of jobs seekers (zhang, madsen, & jensen-butler, 2007). tourism investment in indonesia grew by more than 210% from 2011 to 2012. the growth in tourism investment is aligned with the country’s positive economic growth. additionally, the indonesian government has been instrumental in streamlining investment procedures and promoting investment opportunities and potential of indonesia within the region, resulting in a favourable investment environment as shown by figure 1. figure 1 tourism investments, indonesia 2006 – 2012 (source: indonesia investment coordinating board, 2013) north sumatra tourism sector fdi realization based on business type table 1 exposes that the realization of fdi based on business type has slightly increased. the largest fdi for star hotel business type occurred in 2012 with the investment amount of us$ 729,724 million. from 2010 until 2014, fdi for homestay business type only occurred in 2012 with the investment amount of us$ 0.35 million. the highest fdi for restaurant and roving food supply business type occurred in 2013 with the amount of us$ 13,589 million. from 2010 to 2013, the highest fdi in the tourism sector occurred in 2012 with the amount of us$ 768.50 million. in 2013, 152 journal the winners, vol. 15 no. 2, september 2014: 150-158 tourism sector fdi fell as much as 39.8% to us$ 462.47 million. in the first quarter (q1) 2014, tourism sector fdi reached us$ 117.24 million as shown by table 1. fdi in north sumatra is slightly increased. in 2010, the fdi conveyed to north sumatra us $ 270 million and 2011 was increased to us $ 4.672 million. in the year of 2012 to 2013 was going down by contributed from us $ 4.143 million to us $ 1.735 million only. but in the first quarter the year of 2014 rebound again to us $ 2.503 million. overall, tourism sector in north sumatra until the first quarter of 2014 contributed us $ 13.331 million. table 1 fdi realization based on business type in north sumatra north sumatra regional economic performance the economic performance of north sumatra province from the year of 2010 to 2012 (see table 2) was slightly increased. this performance indicator contributed by the sector of hotel and restaurant. in 2010, hotel and restaurant was offered 11 % from the total income regional in this particular year 2010 is 2,158.6 millions us$. in 2011, contributed also contributed 11 % although the total income increased to 2,306.6 millions us$. in 2012, hotel and restaurant conveyed 10.8 % and small decreased from the previous year as referred to table 2. the purpose of this research is to investigates the significance foreign direct investment in tourism sector relates to implications of economic growth in north sumatra. table 2 north sumatra regional economic performance: gdp province based on industrial (idr/us billion) with current price no type of business fdi (million us$) 2010 2011 2012 2013 2014-q1 1 star hotel 309.085 197.552 729.724 383.267 67.892 2 melati hotel 0.69 1.63 0.79 2.295 2.298 3 homestay 0.35 4 other short term accommodation provision 26.708 33.838 28.696 60.159 44.45 5 other accommodation provision 0.06 4.602 0.005 0.611 6 restaurant and food roving supply 10.063 4.372 8.576 13.589 2.6 7 catering services for specific event 0.25 0.009 0.284 8 beverages supply 0.35 2.32 total 346.606 242.244 768.5 462.525 117.24 industrial origin current price 2010 current price 2011 current price 2012 current price 2013 current price 2014 q1 idr usd idr usd idr usd idr usd idr usd 1. agriculture 63,181.84 5.2652 70,655.87 5.8880 76,838.11 6.4032 86,118.60 7.1766 46,139.74 3.8450 2. mining and quarrying 3,789.75 0.3158 4,341.19 0.3618 4,635.32 0.3863 5,252.87 0.4377 2,802.05 0.2335 3. manufacturing 63,293.45 5.2745 70,672.27 5.8894 77,484.96 6.4571 87,170.66 7.2642 46,624.40 3.8854 4. electricity, gas & water supply 2,609.89 0.2175 2,966.27 0.2472 3,150.34 0.2625 3,430.43 0.2859 1,860.26 0.1550 5. construction 17,519.79 1.4600 20,172.80 1.6811 23,595.94 1.9663 27,934.64 2.3279 15,069.82 1.2558 6. trade, hotel & restaurant 52,384.32 4.3654 60,387.52 5.0323 67,027.28 5.5856 77,918.68 6.4932 42,387.96 3.5323 7. transportation & communication 24,907.45 2.0756 28,964.29 2.4137 32,855.01 2.7379 38,574.73 3.2146 20,922.13 1.7435 8. financial interme diaries, insurance,real estate & ownerships of dwelling business service 18,203.84 1.5170 21,887.63 1.8240 26,442.21 2.2035 31,030.23 2.5859 16,909.30 1.4091 9. services 29,809.88 2.4842 34,324.37 2.8604 39,061.18 3.2551 46,502.22 3.8752 25,313.09 2.1094 grdp 275,700.21 22.9750 314,156.94 26.1797 351,090.36 29.2575 403,933.05 33.6611 218,028.75 18.1691 fdi in tourism sector..... (parhimpunan simatupang; abdul razak chik) 153 literature review the most widely known approach was advocated by solow (1956), where he attempts to explain how an economy will grow, given its technology and the market behavior of its consumers. based on the solow model the following econometric specification is used to explore factors contributing to the long run economic growth. yit = β0 + β1x1it + β2x2it + β3x3it + β4x4it + β5x5it + t + i + it. where y is per capita gdp growth rate in country i and in year t, x1 is the capital accumulation rate in country i in year t, x2 is the population growth rate in country i in year t, x3 is the share of research and development expenditure in country i gdp in year t, x4 is the primary completion rate in country i in year t, x5 is the share of imports and exports in country i gdp in year t, t and i are time and country fixed effects variable to capture the unobserved effects across time and countries respectively and it is random error. many studies have examined the effect of inward fdi and imports on firm innovation, such as those of zimmermann (1987), veugelers and houte (1990), scherer and huh (1992), bertschek (1995), co (2000), and lofts and loundes (2000). these studies find that inward fdi and imports can enhance competition and accelerate the process of innovation in the local manufacturing industry. however, only a few studies discuss the influences of outward fdi and exports on innovative activities. research study in cuba, tourism play a significance role of the growth of economic. official statistic report that at the end of 2000, there existed 29 joint venture in tourism with a total capital of us$1,089 million, 26 of which were hotel chains managing 15,600 rooms. in the same year, 17 international hotel chains were reported to have management and marketing contracts with cuban counterparts. in china, fdi inflows to the tourism sector promoted the growth of incoming tourism and consumption. foreign investors have brought their established or potential tourist sources to the chinese market increasing inward tourism and promoting the development of china’s tourism economy. through cooperation with foreign tourism companies, domestic ones can draw upon experience and methodology in building marketing networks and managerial practices so as to improve the overall level of china`s tourist enterprises and facilitate their internationalization process (kyrkilis & pantelidis, 2003). by the year 2020, china will become the world’s number one tourist destination with annual arrival 130 million. a study by the tourism council of the south pacific (1992) showed that $1,000 of tourism expenditure in fiji generated an output of $3,541 in the overall economy and a total of $336 in public sector revenue i.e. 33.6%. this figure is on par with manufacturing and ahead of agriculture (32%) and mining (19%). the industry has emerged as an attractive development option with the capacity to generate significant foreign exchange earnings and incomes for the local population. it creates employment, provides revenue for government by way of direct and indirect taxes, improves infrastructure and encourages entrepreneurial activities. it also stimulates economic development through the so-called multiplier effect. a study conducted in australia revealed that the nation states use the capacity of national bureaucracy as a key adaptive mechanism to aid domestic accommodation of globalizing pressures while enabling the retention of state autonomy holds true, at least in the case of australia’s experience with fdi from 1968 to 2004. thus while successive australian governments have sought to adapt to greater internationalizing pressures, particularly those generated by international economic actors, 154 journal the winners, vol. 15 no. 2, september 2014: 150-158 such as multinational enterprises, and the internationalizing of markets, the australian state has retained sufficient capacity to respond to such globalizing pressure to support its own strategic and political objectives. this study shows that while there are changes in how states act and behave in responding to globalizing pressures a fundamental role of the state continues to be that of regulating cross border flows such as fdi (sadleir, 2007). foreign direct investment (fdi) in tourism would help developing countries to mitigate the effect of adverse development gap between developed and developing countries (unctad, 2007). studies of the relationship between tourism activity and fdi have been flourishing recently, but they are still scarce. chen (2010) analysed the influence of foreign direct investment within china’s tourism industry considering the imbalance of the development process across coastal and inland regions from 1978 to 2008. the results show that impacts of fdi on tourism industry in the coastal regions are greater than they are inland. therefore, the coastal regions have experienced rapid economic and tourism development because of the inflow of fdi and political preferences. selvanathan, selvanathan, and viswanathan (2012) investigated the causal link between fdi and the tourism industry in india under a var framework, by employing quarterly statistics from 1995 to 2007. the results indicate that a one-way causality link is found from fdi to tourism arrivals. this explains the rapid growth in the international tourism arrivals as being due to attracting further fdi in the indian economy during the last decade. methods as previously discussed, the purpose of this research is to investigate the foreign direct investment significance in tourism sector related to implications of economic growth in north sumatra. empirical analysis used fdi and gdp secondary data series collected from 2010-2014 captured with microsoft excel. the descriptive statistical analysis was performed by using the statistical program for social sciences (spss) version 21. the statistical analysis included descriptive analysis and factor analysis. results and discussion the purpose of normality test is to test whether the dependent variable and independent variables have normal distribution or not. figure 2 shows the graph of normal p-plot of the regression with dependent variable of gdp. the graph shows how the points are patterned diagonally upwards around the normal line. therefore, this regression model fulfils the normality assumption. figure 2 regression standardized residual fdi in tourism sector..... (parhimpunan simatupang; abdul razak chik) 155 regression analysis is used to determine the effect of independent variables on the dependent variable. because the number of independent variables or x is only one, then the regression variables used are simple linear regression. simple linear regression model: y=β0+β1x1 + e where: y = gdp (dependent variable); x1 = fdi (independent variable); β0 = intercept (value of y when all xi = 0); β1 = regression coefficient associated with x1; e = an error term. coefficient determination is used to look at the contribution of independent variable fdi (x) to dependent variable gdp (y). the higher adj r2, the better the regression model, as the independent variables are able to explain the dependent variable. from table 3, the magnitude of the coefficient adj r square is 0.912, it means that the variable gdp(y) can be explained by the independent variables fdi (x) of 91.2%, while the remaining 100% 91.2% = 8.8% is the contribution of the other independent variables were not included in this research, in other words fdi pretty well explain gdp. the closer r-square to 1, the more variation of the dependent variable is being explained by the observed independent variables. table 3 gdp coefficient determination (r2) model r r square adjusted r square std. error of the estimate 1 .966a .934 .912 .36987 source: output of spss the f-test (anova) is conducted to analyze the impact of the independent variables toward the dependent variable, which is gdp. to determine the rejection of the null hypothesis above; fstatistic must exceed f-table (critical value). aside from the f-value, (ρ) value also plays a significant role; it is only when (ρ) < 0.05, the null hypothesis may be rejected. table 4 shows the significant value (ρ) of 0.007 which is lower than (ρ) critical value of 0.05. therefore there is significant linear correlation between fdi as the independent variables with the gdp as the dependent variable in the model, and that the independent variables are significantly influencing the dependent variable not by chance or accident. this is an indication of a fit model of regression to be significant, and thus the independent variables fdi (x) can significantly act as predictors for the dependent variable (gdp). table 4 f-test table for the regression model anovaa model sum of squares df mean square f sig. 1 regression 5.815 1 5.815 42.506 .007b residual .410 3 .137 total 6.225 4 a. dependent variable: gdp b. predictors: (constant), fdi source: output of spss 156 journal the winners, vol. 15 no. 2, september 2014: 150-158 referring to column “b” in table 5 is the coefficient of each independent variable in the regression model fdi (x) towards the dependent variables (gdp) to form the regression equation. the column “t” and “sig.” represent the significance of variable and its impact on the dependent variable (gdp). notice that the significance value (ρ) of each independent variable is below 0.05, an implication that fdi had significant impact on gdp. from column “b” in table 5, formed an equation for the regression model: equation 1. linear regression equation fdi towards gdp gdp = 3.043 + 0.007  fdi whereas the constant of the equation is 3.043, means that when the independent variables (x) are zero, the value of gdp will be equivalent to the constant (3.043). table 5 coefficient-table for regression model unstandardized coefficients standardized coefficients t sig. b std. error beta 1 (constant) 3.043 .398 7.650 .005 fdi .007 .001 .966 6.520 .007 a. dependent variable: gdp source: output of spss hypothesis h0 : fdi does not significantly influence gdp. h1 : fdi does significantly influence gdp. referring to the significance (ρ) result is 0.007 < 0.05, the results is a stand to reject h0 , this suggests that fdi does significantly influence gdp. factors of and fdi determinants flows to indonesia strategic location and raw materials according to bkpm (2013), with 2 million km2, sea: ± 7.9 million km2 (4 times greater than the land), islands >17,508 island), indonesia lies at the intersection of the pacific ocean along the malacca straits the indian ocean. over half of all international shipping goes through indonesia waters and become a gateaway to asean market. population and workers availability competitive advantage in terms of worker and consumer; indonesia is the 4th most populous country in the world accommodated 240 million people with 53% population in cities producing 74% of gdp and 55 million skilled workers. it will generate higher buying power and availability of lower human resources price, and those will gain investor to invest in indonesia (kementerian pariwisata dan ekonomi kreatif, 2014). growing middle class and market demand number of population in middle income (per capita expenditure per day $2-20) with higher demands for better services and products; car sales on 2012 total to 1.116.230 units, or increase 25% from the previous year. analysts and industry players noted that low borrowing costs coupled with fdi in tourism sector..... (parhimpunan simatupang; abdul razak chik) 157 rising purchasing power influenced customers to buy cars. the national cement consumption reached 54,9 million tons in 2012, grew 14,3% from 48 million tons in 2011 (bpkm,2013). in tourism sectors, the number of visitor come to indonesia (tourism) rose to 8,002,035 visitors in 2012, an increase of 5% from previous year (bpkm, 2013). foreign equity participation (51% share owned by foreign investor) for the following business 1 and 2 star hotel, non classified hotel, motel & lodging service, home-stay, catering, spa, amusement center, bar, café, singing room/karaoke (kementrian pariwisata dan ekonomi kreatif, 2014). according to bpkm (2013), several tourism investment areas opportunities can be established such as: cruise tourism, meetings, incentive, convention, exhibition/event, nature based and ecotourism culture and historical based tourism shopping and culinary, wellness and medical tourism recreational sports. economic growth indonesia’s 2012 growth hit 6.2% and 16th largest economy in the world with 45 million members of the consuming class, $0.5 trillion market opportunity in consumer services, agriculture and fisheries, resources and education (kementerian pariwisata dan ekonomi kreatif, 2014). the imf projects indonesia will be at the top 3 fastest economic growths among g20 countries (international monetary fund, 2012). japan credit rating agency (2012) stated that key factors supporting the decision of affirmation the sovereign invest in indonesia. (1) the country’s sustainable economic growth outlook underpinned by solid domestic demand, (2) low level of public debt burden brought by prudent fiscal management, (3) reinforced resilience to external shocks by its accumulated foreign exchange reserves. fitch ratings in 2002 discovered that the key factors supporting the decision of affirming indonesia’s sovereign credit rating are the relatively high economic growth that is resilient to the declining global condition, high investment rate, low and declining public debt ratios and the strong overall macroeconomic policy framework. world economic forum in 2013 reported that indonesia ranks 38th of 148 countries surveyed and remains one of the best performing countries within the developing asia region, behind malaysia, china and thailand, yet ahead of philippines, vietnam and all south asian nations. 100 % of capital share can be owned by foreign investor for the following business: 3 to 5 star rated classified hotel; tourism resort, golf course & driving range, convention & exhibition. conclusion foreign direct investment in tourism sector does significantly influence its economic growth in north sumatra. the significance value (ρ) of each independent variable is below 0.05, an implication that fdi had significant impact on gdp. there are several factors determined fdi flows to indonesia such as location, availability of employee and raw material, population and market distribution and economic growth indicator performance. references bertschek, i. (1995). product and process innovation as a response to increasing imports and foreign direct investment. journal of industrial economics 43(4), 341–357. bkpm (indonesia investment coordinating board). (2013). tourism investments. chen, x. (2010). the influence of fdi on china’s tourism industry. unpublished master of business thesis. auckland university of technology. 158 journal the winners, vol. 15 no. 2, september 2014: 150-158 endo, k. (2006). foreign direct investment in tourism—flows and volumes. tourism management, 27(4), 600–614. international monetary fund. (2012). imf world economic outlook database. kementrian pariwisata dan ekonomi kreatif. (2014). tourism sector investment realization in indonesia year 2010 – 2014 (q1). kyrkilis, d., & pantelidis, p. (2003). macroeconomic determinants of outward foreign direct investment. international journal of social economics, 30(7), 827–836. lofts, c., & loundes, j. (2000), foreign ownership, foreign competition and innovation in australian enterprises. melbourne institute working paper no. 20/00. university of melbourne sadleir, c. (2007). australia’s policy approach to foreign direct investment 1968-2004 as a case study in globalization, national public policy and public administration. thesis doctor of philosophy. university of canberra. samimi, a. j., sadeghi, s., & sadeghi, s. (2013). the relationship between foreign direct investment and tourism development: evidence from developing countries. institutions and economies, 5(2), 59–68. scherer, f. m., & huh, k. (1992). r&d reactions to high-technology import competition. review of economics and statistics, 74(2), 202–212. selvanathan, s., selvanathan, e. a., & viswanathan, b. (2012) causality between foreign direct investment and tourism: empirical evidence from india. tourism analysis, 17(1), 91–98. solow, r. m. (1956). a contribution to the theory of economic growth. the quarterly journal of economics, 70(1), 65–94. unctad (2007). fdi and tourism: the development dimension-selected developing country case-studies. united nations, new york, ny. unctad. (2008). fdi in tourism: the development dimension-unctad current studies on fdi and development no. 4. united nations, geneva. veugelers, r., h.p., & houte, v. (1990). domestic r&d in the presence of multinational enterprises. international journal of industrial organization, 8(1), 1–15. xu, g. (1999). tourism and local economic development in china: case studies of gruilin, suzhou and bedaihe. survey uk: curzon. p20 zhang, j., madsen, b., & jensen-butler., c. (2007). the regional impact of tourism: the case of denmark. regional studies, 41(6), 839–853. zimmermann, k. f. (1987). trade and dynamic efficiency. kyklos, 40(1), 73–87. microsoft word 08_ciputra_marina_rev2.docx marketing communication strategy …… (marina wardaya) 155  marketing communication strategy through social media to increase children book sales marina wardaya visual communication design department, creative industries faculty of ciputra university uc town, citraland surabaya marina.wardaya@ciputra.ac.id abstract the purpose of this research was to determine the marketing communication strategy of children's books through social media in increasing sales. qualitative research methods with the interpretive paradigm and the phenomenological approach were used in this research. the focus of this research was to observe about the children's books marketing communication strategy using social media, for instance with facebook and twitter to attract consumer’s interest in order to increase children's books sales. the results of this study show that the children's book marketing communication strategies in publisher’s social media are fully and interactively utilized, as seen from the various activities posted on facebook and twitter. as well as the positive response from consumers who show their interest and desire to buy books offered or follow the event being held in order to increase sales. keywords: marketing communication strategy, social media, facebook, twitter, children's books, publishers introduction the growing awareness of parent’s toward pre-school education encourages parents to pay more attention. one of the learning media is the book. children's books with educational elements are developing since the book is seen as a medium of learning. theoretically learning can indeed be started since preschool-aged children that are better known as paud (early childhood education). the children at this age have the characteristics of development that enable them to take the lesson. currently, the children's book publishing market with the elements of education is increasing. many large and small publications are competing to publish various types of children's books with educational elements. it is from children's textbooks to the fairy tale-themed children's books. by the end of 2010, it has been recorded that gramedia has 100 bookstore branches throughout indonesia. the average of each store presents 30 thousand titles of books, both locally and translated. several other major publishing that leads market genre for instance bip and elex media, both are a subsidiary company of the kompas gramedia group (kgg). in the books purchasing, parents as consumers have very important role in a matter of whether a children’s book with the elements of education or not, since the parent’s role as the final decision maker of the purchase. book publisher’s challenge today is quite substantial. besides thepublic reading interest, it is also the digitalization era, which children are more interested in playing gadget than reading the book. companies that specialized in book publishing, especially in children's books, they are required to think and to act effectively and efficiently in attracting consumers to buy children’s books and increase book sales in this digitalized era. the company's success in marketing the product mostly depends on company method in communicating with consumers. communication is the process by which a person (communicator) conveysstimulant to change the behavior of others (arifin, 2006). 156 journal the winners, vol. 17 no. 2, september 2016: 155-163  based on the definition of communication, it can be observed that besides providing information, the communication also gives effect to the communicants to act according to what is expected by the communicator. for an organization or company, communication is appropriately used to deliver messages to customers that related with the brand and the produced and promoted products. the communication used is a marketing communications. this communication has an important role in the process of development and building awareness of a product. kevin keller in (belch & belch, 2011) has stated that managing brand awareness, has become a priority for companies of all sizes, in all types of industries and markets. the development and advancement of the current information technology bring changes in many things especially in terms of communication. communication itself could be interpreted as a form of human interaction that affects each other to one another, whether either intentionally or unintentionally. and it is not limited to the form of communication using verbal language and the other way such as the facial expressions, painting, art and technology as presented by shannon & weaver (cangara, 2012). nowadays, lots of technology that support communication media, one of them is the development of the internet. the internet invention is a major innovation which eventually give seasiness to users as a medium for communication that is efficient, effective, and cheap. kartajaya (2010) has stated that the progress of the current technology makes the marketer activities experienced a functional change where consumers have sufficient information and can compare various offer in a wide variety of similar products. this means that each customer candidates is easier to determine which products that are similar and the best for them. it is becoming one of the shifting roles of consumers that from the once-isolated become the interconnected. besides that the consumers get enough information as a basis for making decisions. social media becomes a platform as a gathering place for individuals to create a group and expand the connections. along with the development of technology, social media presence currently is not only used to communicate with other people, but also to be used as marketing media and online business promotion (hutter, hautz, dennhardt, & füller, 2013). therefore, the researcher examines the children's book marketing communication strategy through social media that related to marketing strategies which attract customers to buy. the purpose of this study is to determine how the marketing communication strategy of children's books through social media in increasing sales. the problem statement in this research that designated as the research subject is how children book marketing communication strategies through social media in increasing sales. methods this research uses the descriptive method. in a descriptive research, the emphasis is data analysis by observing the processes of the occurrence phenomenon. descriptive qualitative research according to mayer and greenwood (silalahi, 2009) simply refers to the identification of properties that distinguish or characteristic of a group of people, objects, or events. this descriptive qualitative research describes the phenomenon of social media as a promotional media. the type of data in this research are interviews (depth interview) in the form of qualitative data, namely data that is in the form of words or verbal statements, opinions, attitudes, marketing communication strategy …… (marina wardaya) 157  motives; trust perceptions, behavior, facts, attributes, and knowledge about social media usage as a children’s book promotional tool on facebook and twitter. the source of the data obtained from the primary data which is obtained from the answers results that given by the speakers from the interview result. the primary data are in the form of statements, interpretation, activities, and observations that are done by the perpetrators of speakers in promoting children’s books. and secondary data is obtained from the experts, literature, library, the bulletins, and the internet which are directly related to information about the use of social media as a means of promotional means. it becomes the object of the research and for the preparation of this research report (moleong, 2014). results and discussions communication is the relationship of contact between and among humans both individuals and groups. in daily life whether it is realized or not, communication is a part of human life itself. since the humans were born, they already communicate with their surroundings. moreover, the communication is also interpreted as relationships or activities that are related to public relations or exchanging thoughts and opinions (widjaja, 2000). according to carl i. hovland (widjaja, 2000), communication studies is systematic effort to explicitly formulate the principles of information delivery as well as the opinions and attitudes formation. hovland definition above shows that the object of communication studies is not only the delivery of information, but also the formation of public opinion, and public attitudes that play a very important role in social life and political life. even in its definition on the meaning of the communication itself, hovland has said that communication is the process of changing the behavior of others or communication is the process to modify the behavior of other individuals (widjaja, 2000). to understand the meaning of communication that can be carried out effectively, communication enthusiasts often cite the paradigm that is proposed by harold lasswell in his work, the structure and function of communication in society. laswell has said that a good way to describe communication is to answer the following questions; who says what in which channel to whom with what effect? (effendy, 2009). according to laswell (in effendy, 2009) paradigm above shows that communication includes five elements which are communicators (communicator, source, sender), message, media (channel, media), communicant (communicate, receiver, recipient) and effect (impact, influence). therefore, based on the laswell paradigm, communication is a message delivering process by the communicator to the communicant through media that cause certain effects (effendy, 2009). it is emphasized that communication has a specific purpose and this purpose is certainly affecting the communicants to act accordingly to what communicators want. communications provide something to others with specific contacts, or by using certain tools. with the communication, people can convey information, opinions, ideas, conceptions, knowledge, feelings, attitudes, actions and so forth to each other on a reciprocal basis, either as a communication sender or receiver. the communication process is essentially a process of delivering thoughts or feelings by a person (communicator) to others (communicant). the mind can be in the form of an idea, information, opinions, and more that occur from his mind. feelings can be in the form of faith, certainty, doubt, fear, anger and so forth that arise from the heart (effendy, 2009). the communication process is divided into two stages; primary and secondary basis. the first stage is communication process in the primary. the primary communication process is the process of delivering thoughts and or feelings to 158 journal the winners, vol. 17 no. 2, september 2016: 155-163  others using an emblem (symbol) as media. the second stage is communication process in secondary. this secondary communication process is the process of delivering a message by one person to another by using a tool or means as a second media after the emblem used as the first medium (effendy, 2009). communication is a process where thinking and understanding delivered between individuals, or between organizations with individuals. marketing is a set of activities in which companies and other organizations transferring the values (exchange) among them with their customers. certainly, the understanding of marketing is more general than marketing communications; however marketing activities involve more on communication activities. when combined, marketing communications represents all the elements in the brand marketing combination, which facilitates exchange by creating a meaning that is distributed to the customer or client (shimp, 2003). marketing communications strategy is different from the communication strategy, the point of difference lies on both objectives. marketing communications strategy has objectives related to the purpose of marketing itself. while the objective of communication strategy itself depends on what the communication strategy and for what purpose. on the other words of the communication strategy is the coverage of marketing communication strategy. marketing communications strategy is different from the political communication strategy. however, both of them are the communication strategy to influence (persuasion) communicant yet with a different purpose (cheung & lee, 2012). kotler and keller have defined that marketing communications as the medium used by companies to inform, persuade, and remind consumers directly or indirectly about the products and brands they sell. in a certain sense, marketing communications represent the brand’s "voice" and as a medium that can be used to initiate a dialogue and building relationships with consumers. the description of the stages that proposed by kotler & keller (2009) are first stages, identify in message recipient target. identification target of the message recipient from children book is the parents’ work as the decision maker in purchasing children's books. the social media as the tool in promoting book, especially in children books can be seen in figure 1. figure1 facebook gramedia pustaka utama (source: facebook.com/gramediapublisher, 2016) the second stage is determining the communication purpose. response determination is part of specifying marketing communications purpose of the children’s book. the cognitive response that company set down the perception in the consumers’ minds about the products of the children’s book as educational books that can help children or develop children’s ability. the publisher is also trying marketing communication strategy …… (marina wardaya) 159  to change the attitude of consumers concerning the children’s book products as something that is essential in the children’s development that is an effective response. the publisher also makes consumers do the actual act as a response to the consumer’s act of purchasing. the third stage is designing message. in developing an effective message, it is delivered by the publisher through twitter and facebook. social media must contain elements of aida (attention, interest, desire, action), which has gained the consumers attentionby giving the message and display the latest preview pictures of the children’s book edition. itcould raise a sense of interest to children's books products by consumers. by posting the latest children's books, it stimulates the consumer’s desire to buy children’s books with preview story, replacing the book cover or the book preface thus finally do the purchasing (action). the example of children’s books in one publisher (gramedia) can be seen in figure 2. figure 2 children`s book of gramedia pustaka utama source: facebook.com/gramediapublisher (2016) next step is choosing communication channels. according to kotler (2007), there are several communication channels namely personal and non-personal communication. communication that is done by the publisher through twitter and facebook is part of the non-personal communication. the messages that have been designed transferred through the twitters and facebook. after choosing communication channels then companies can specify the total budget for communication. how do companies determine the promotional budget? there are four main methods used in formulating the promotional budget. the method is corresponding with the capability, sales presentation method, balance method competition, purposes and method of tasks. deciding the type of marketing communications will help company allocate promotional budget through the variety of promotional tools according to the effectiveness and efficiency. however through social media, publisher does not need to allocate promotional budget through promotional tools because there is almost no cost in delivering the message through twitter and facebook fan page (neti, 2011). the next action that has to be done is measuring the effect that occurs on the message recipient target. that way can be done such as asking directly to consumers related to their memory of which from the delivered message, their intensity in observing the message, the most memorized part of the message, feelings and consumer attitude toward the message. this can be seen from the comments, mention or a tweet done by consumers on facebook or twitters (brison, et al., 2016). 160 journal the winners, vol. 17 no. 2, september 2016: 155-163  then with that data, the company can set up an integrated marketing communication process. any forms of communication that have been done must be planned and integrated into the marketing communications program that carefully integrated. based on the data findings, publisher in running marketing strategy implementation has already designed it carefully (hassan, zaleha, nadzim, & shiratuddin, 2015). the approach technique to affect consumer decision (bruner & pomazal, 1988), one of them is the response stimulus approach technique. this technique is the ideas or knowledge delivery technique of a brand and product to the consumers so that consumers are interested or motivated in making the decision to buy the products delivered. in other words, publishers provide a stimulus in the form of the latest children’s books that they publish, then expecting that consumer to be able to respond positively. for example, a reader who asks the availability of children’s books, then the consumers directed to buy or recommend the similar books. therefore the reader is interested in buying the similar book. it can be seen in figure 3. figure 3 twitter of gramedia matraman (source: twitter.com/gramediamatraman, 2016) the second technique is humanistic approach technique. this technique is using more humane approach technique. in this technique, the purchasing decision is left entirely to the consumers. publishers are simply providing various types of children’s books such as activities book, story books, and coloring book. it provides information about the benefits and the goodness that available on each product. it can be seen in figure 4. figure 4 facebook promotion at gramedia pustaka utama (source: facebook.com/gramediapublisher, 2016) marketing communication strategy …… (marina wardaya) 161  the third technique is the combination technique between stimulus-response and humanistic approach. this technique is the approach technique from the combination of stimulus response and humanistic technique. publisher in dealing with consumers are conditioned to act that allows customers to be motivated to buy, but the purchasing decision are left entirely to the consumers. the example of this technique can be seen in figure 5. figure 5 facebook decision to buy at gramedia pustaka utama (source: facebook.com/gramediapublisher, 2016) the last technique is persuasive communication approach technique. johar (2015) has stated that this technique is a persuasive communication approach technique that uses the aiddas formula a = attention, i = interest, d = desire, d = decision, a = action, and s = satisfaction firstly, the consumers’ attention is needed to be raised toward a product in order to a rise their interest, then improvetheir desire to buy the product. furthermore direct the consumer to take the decision to buy products that suit their needs, with the expectation that the consumers satisfied after purchasing (rowley, 1998). before using the aiddas formula, publishers must do the following steps. the publisher must pay attention to the consumer with an effective and attractive communications approach. then study consumers’ needs, desires, feelings, nature, characteristics and personality in advance. publishers also have to listen to the consumers’ opinions, and then give conviction about the product's benefits that attract his attention. researchers adopt ten principles of effective advertising proposed by o' guinn (agus, 2013) for a better guide to made social media promotional content that is interesting and effective to delivered to the receiver. first, social media have to able to attract the attention of consumers as soon as possible. facebook timeline is the internet pages most visited by consumers. it is started from the posting of social networking consumers themselves, posting fan page, followed by the consumer, until the ad is placed strategically in the facebook timeline. so the facebook posting content should be designed to attract the attention of potential customers quickly. the promotional content shown has to be able to lift the image of the publisher to look positive in the minds of consumers. it is because the entire consumer interactions with the fan-page publisher that can be observed directly by all social networks. then consumers will generally reluctant to comment or give their consent to the publishers’ posting who do not give a positive image to the consumers themselves. the promotional have to look striking. in accordance with the preceding discussion, the facebook timeline is usually full of messages. therefore, the promotional content has to be displayed in a unique visual, particularly well with the symbol, photographs, and images to attract the attention of consumers. 162 journal the winners, vol. 17 no. 2, september 2016: 155-163  when delivering the message, it has focused in conveying the message. a post should submit one or two main messages only if too many messages to be conveyed that would make consumers think too much and obscure the main goal of promotion. do not forget to use colors that are attractive and appropriate. the use of an appropriate color to attract the attention of consumers gives positive vibes, and help to lead the consumers’ perceptions of the issuer or products. for example, the color used for any promotional children's novel is not the same as the color used for the promotion of novel adult content. the promotional have to informative. posts must be able to explain about the product or program being offered by the issuer, or at least convey the vision and image publishers to consumers. it has to be easy to remember. social media posts are good not only stand out among other posts but also easily remembered by consumers. besides being easy to remember, the promotional have to memorable. when consumers understand the products and manufacturers via social media posts, the postings are left a good impression on consumers. the basic idea is ‘shows do not tell’. good social media posts can be understood only through the visual appearance without having to read for the verbal content. verbal content is only used to add information that consumers are interested in knowing more can get more clear information. sometimes they use humor and metaphors. not all the products can be advertised in this way so that the use of humor must be adapted to the context. humor and modality help to keep posting social media becomes more memorable and easily remembered by consumers. conclusions based on the analysis conducted during the research process concerning children’s book marketing communications strategy in social media in an attempt to increase sales can be concluded. children’s book publisher have to perform these marketing communications strategies steps namely identifying message recipient target, determining the purpose of communication, designing message, choosing communication channels, specifying the total budget for communication, deciding the type of marketing communications, measuring communication results, and setting up an integrated marketing communication process. the publisher has also been conducting communication approaches that make consumers especially the publisher follower to affect the desire to buy the book marketed. the publisher also does a variety of marketing such as launching books or promotional activities, discounts, contests and children's books marketing through social media that can boost children's books sales. references agus, h. (2013). komunikasi pemasaran. jakarta: erlangga. arifin, a. (2006). ilmu komunikasi sebuah pengantar ringkas (1st ed.). jakarta: rajawali pers. belch, g. e., & belch, m. a. (2011). advertising and promotion: an integrated marketing communications perspective (9th ed.). mcgraw-hill education. marketing communication strategy …… (marina wardaya) 163  brison, n. t., byon, k. k., & baker, t. a. (2016). to tweet or not to tweet: the effects of social media endorsements on unfamiliar sport brands and athlete endorsers. innovation: management, policy & practice, 18(3). https://doi.org/10.1080/14479338.2016.1237304 bruner, g. c., & pomazal, r. j. (1988). problem recognition: the crucial first stage of the consumer decision process. journal of consumer marketing, 5(1), 53–63. https://doi.org/10.1108/eb008219. cangara, h. (2012). pengantar ilmu komunikasi (2nd ed.). jakarta: pt. raja grafindo persada (rajawali perss). cheung, c. m. k., & lee, m. k. o. 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(2000). ilmu komunikasi: pengantar studi (1st ed.). jakarta: rineka cipta. microsoft word 05_priska_paper jw review prof. faisal 2-edit 40 journal the winners, vol. 13 no. 1, maret 2012: 40-49 pecking order theory and trade-off theory of capital structure: evidence from indonesian stock exchange priska ralna eunike culata; tri gunarsih universitas teknologi yogyakarta jl. ringroad utara, jombor, sleman, yogyakarta priska_08013@yahoo.com absract numerous empirical studies in the finance field have tested many theories for firms’ capital structure. the pecking order theory and the trade-off theory of capital structure is among the most influential theories of firms’ capital structure. the trade-off theory predicts optimal capital structure, while the pecking order theory does not predict an optimal capital structure. according to pecking order theory, the order of financial sources used is the source of internal funds from profits, short-term securities, debt, preferred stock and common stock last. the main objective of this study is to econometrically test whether the listed companies in indonesian stock exchange follow the pecking order theory or the trade-off theory. samples in this study are public companies listed during 2009-2010. the research questions are tested by running regression models. the empirical result of this study shows that the pecking order theory is not supported, while the trade-off theory is supported. this suggests that the capital structure of listed companies in indonesian stock exchange is financed based on optimal capital structure, not by the order financial resources. keywords: capital structure, pecking order theory, trade-off theory abstrak sejumlah studi empiris di bidang keuangan telah menguji banyak teori untuk struktur modal perusahaan. teori pecking order dan teori trade-off dari struktur modal adalah salah satu teori yang paling berpengaruh dari struktur modal perusahaan. teori trade-off memprediksi struktur modal yang optimal, sedangkan teori pecking order tidak. menurut teori hierarki, urutan sumber keuangan yang digunakan adalah sumber dana internal dari keuntungan, sekuritas jangka pendek, utang, saham preferen dan sisa saham biasa. tujuan utama dari penelitian ini adalah untuk menguji secara ekonometris apakah perusahaan yang terdaftar di bursa efek indonesia mengikuti teori pecking order atau teori trade-off. sampel dalam penelitian ini adalah perusahaan publik yang terdaftar selama tahun 2009-2010. pertanyaan penelitian diuji dengan menjalankan model regresi. hasil empiris dari studi ini menunjukkan bahwa teori pecking order tidak didukung, sedangkan teori trade-off didukung. hal ini menunjukkan bahwa struktur modal perusahaan yang terdaftar di bursa efek indonesia dibiayai berdasarkan pada struktur modal yang optimal, bukan oleh sumber daya tatanan keuangan. kata kunci: struktur modal, teori pecking order, teori trade-off pecking order..... (priska ralna eunike culata; tri gunarsih) 41 introduction numerous empirical studies in finance have tested many theories for firms’ capital structure. the pecking order theory and the trade-off theory of capital structure is among the most influential theories of firms’ capital structure. according to myers (1984), firms finance their activities with retained earning when feasible. if the return earning are inadequate, then debt is used. only in extreme cases will firms use new equity finance. thus, the order of financial sources used was the source of internal funds from profits, short-term securities, debt, preferred stock and common stock last. pecking order theory predicts that the issuance of equity (common stock) is the last alternative sources of funding. the trade-off theory, based on research on taxes (modigliani and miller, 1963) and bankruptcy and financial distress costs (warner, 1977) and the insights from the agency literature (jensen and meckling, 1976), suggests that firms have a unique optimal capital structure that balances between the tax advantage of debt financing (i.e. debt tax shields), the costs of financial distress and the agency benefits and costs of debt (see bradley et al., 1984; leary and roberts, 2005; strebulaev, 2007). then the trade-off theory predicts optimal capital structure, while the pecking order theory developed by myers (1984) does not predict an optimal capital structure but the order of financial sources. most of the empirical studies of those theories had focused on u.s. firms and other developed country. while most existing studies focus on developed countries, it is interesting and important to assess the validity of the dominant theories of capital structure in indonesia. indonesian stock exchange is characterized, among other things, by the domination of large shareholders (gunarsih, 2003), unlike another country that the main agency problems that occurred is between managers and company owners (shareholders). thus the structure of corporate governance in indonesia is different from other countries, such as the united states. ownership structure of listed companies in indonesia is concentrated on a few owners while the ownership structure in the united states is spreading to many owners with a relatively small proportion of ownership. in the concentrated ownership structure, the main agency problem is the majority holder with minority, while in the spread ownership, the main agency problem is between managers with the owner. in this paper, we study the pecking order theory and trade-off theory of capital structure of publicly traded indonesian companies with two reasons. first, the structure of corporate governance in indonesia is different from other countries. second, there are mixed results of empirical study in both theories. some of them are supported but some others are not supported. pecking order theory a large body of recent empirical research on capital structure focuses on testing the validity of the trade-off and pecking order theories, but the empirical results are not consistent yet. some of empirical research are supported but some are not. syam-sunder and myers (1999) find strong support for pecking order theory, while frank and goyal (2003) document weak evidence for the pecking order theory. pecking order theory (myers and majluf (1984) and myers (1984)) and the extension of this theory (lucas and mcdonald, 1990) studied based on the asymmetric information between managers and investors. managers have more information about the true value of the enterprise and enterprise risk compared to outside investors. according to myers (1984), firms finance their activities with retained earning when feasible. if the return earning are inadequate, then debt is used. only in extreme cases will firms use new equity finance. thus, the order of financial sources used was the source of internal funds from profits, short-term securities, debt, preferred stock and common stock last. pecking order theory predicts that the issuance of equity (common stock) is the last alternative sources of funding. 42 journal the winners, vol. 13 no. 1, maret 2012: 40-49 as described by myers (1984), the pecking order theory suggests that firms first prefer internal sources of finance, and they adjust their target dividend payout ratio to their investment opportunities. if the firms seek external finance, due to generous dividend policies, unpredictable fluctuations in profitability or investment opportunities, firms will choose debt (as the safest instrument), and then hybrid securities such as convertible bonds, and then equity as a last resort. the pecking order theory generally explains why firms might rationally let cash flows determine leverage. this suggests that firms turn to debt funds under pressure of an internal funds shortage. tsuji (2011) has surveyed the international evidence of the capital structure issues, particularly focusing on the pecking order theory of corporate financing. the result of the survey, both empirical and survey evidence are often different and contradictory. the mixed results of the survey are as in table 1. table 1survey results of pecking order theory u.s. lee and gentry (1995) supported shenoy and koch (1996) supported helwege and liang (1996) did not follow graham and harvey (2001) supported fama and french (2002) unclear frank and goyal (2003) in contrast large corporation showed some aspects fama and french (2005) more than half samples violated kisgen (2006) credit rating statistically significant bharath et al. (2009) partially explained leary and roberts (2010) never able classify more than half us corporation manso et al. (2010) performance-sensitive debt (psd) consistent de jong et al. (2011) generally better descriptin european country gaud et al. (2007) capital structure policies in european corporations could not be explained by this theory watson and wilson (2002) consistent for small and medium size corporation tucker and stoja (2011) old economy corporation followed. new economy corporation preferred equity to debt when external financing was required. de haan and hinloopen (2003) partly supported gaud et al. (2007) could not explained capital strucure delcoure (2007) could not explained capital strucure hogan and hutson (2005) contradiction asia-pacific suchard and singh (2006) supported chakraborty(2010) explained indian companies’ financial decisions lin et al. (2008) optimistic chief executive officers (ceos) exhibited a stronger relation across countries brounen et al. (2006) uk, the netherlands, germany, and france presence beck et al. (2008) 48 countries held across countires an important survey of myers (2003, pp.235 in tusji, 2011) documented the pecking order theory of corporate financing as following citations ((1) − (4)): (1) firms prefer internal to external finance. (information asymmetries are assumed relevant only for external financing); (2) dividends are “sticky”, so that dividend cuts are not used to finance capital expenditure, and changes in cash requirements are not soaked up in short-run dividend changes. changes in free cash flow (operating cash flow less investment) show up as changes in external financing; (3) if external funds are required for capital investment, firms will issue the safest security first, that is, debt before equity. as the requirement for external financing increase, the firm will work down the pecking order, from safe to pecking order..... (priska ralna eunike culata; tri gunarsih) 43 riskier debt and finally to equity as a last resort, when the firm is sufficiently threatened by financial distress. if internally, generated cash flow exceeds capital investment, the firm works up the pecking order. excess cash is used to pay down debt rather than repurchasing and retiring equity; and (4) the firm’s debt ratio therefore reflects its cumulative requirement for external financing. trade-off theory the trade-off theory, based on research on taxes (modigliani and miller, 1963) and bankruptcy and financial distress costs (warner, 1977) and the insights from the agency literature (jensen and meckling, 1976), suggests that firms have a unique optimal capital structure that balances between the tax advantage of debt financing (i.e. debt tax shields), the costs of financial distress and the agency benefits and costs of debt. then the trade-off theory predicts optimal capital structure. optimal capital structure is a combination of funding sources which consist of debt and stock that will yield the highest value of the firm. one indication of the high value of the company is the high stock prices. thus, the optimal capital structure is a capital structure that generates the highest stock price. another indication of an optimal capital structure is lowest cost of capital weighted (weighted average cost of capital wacc). wacc is the combination cost of debt and capital stock that calculated by weighted average. according to myers (1984), a firm that follows the tradeoff theory sets a target debt-to-value ratio and then gradually moves towards the target. the target is determined by balancing debt tax shields against costs of bankruptcy. one of the capital structure theories is modigliani and miller (mm). mm explained that the companies that use debt will have higher firm value than firms that do not use debt. the higher the debt of the company (higher the ratio of debt to assets), the higher the value indicated by the value of company stock (figure 1 on the line mm result). but in reality, the continuous increase in debt will not increase firm value because it increases the risk of the company. the high debt will allow the risk of default (the default). if this happens then it will lower the value of the company. actual conditions (figure 1 actual line) are the firm value will increase with the increase in debt (leverage) companies. increased leverage will increase the value companies until a certain level (figure 1 second dotted line). increased levels of leverage after the rule will reduce the value of the company as a result of the increased risk of corporate debt. figure 1. the value of shares and leverage 44 journal the winners, vol. 13 no. 1, maret 2012: 40-49 as in pecking order theories empirical research, the results of empirical research in trade-off theory are mixed. fama and french (2002) concluded that the many shared predictions of the trade-off theory tended to do well in their tests, however, when shared predictions were confirmed, attributing theory was unclear. frank and goyal (2003) identified one inconsistency regarding the trade-off theory (i.e., the negative linkage between leverage and profitability). tucker and stoja (2011) suggested that the trade-off theory could explain certain aspects of uk companies’ capital structure policies, neither supplied a satisfactory general explanation of their real-world behaviors. method sample selection samples in this study are public companies, listed in the indonesian stock exchange years 2009-2010. the samples are selected using purposive sampling, base on the following criteria: (1) listed in the indonesian stock exchange between 2009 – 2010; (2) the financial statement data are available for the reporting year 2009 – 2010; (3) the sample firms publish audited financial statements using reporting period ended on december 31. model the pecking order theory tested using model as shyam-sunder and myers (1999) and cotei and farhat (2008). shyam-sunder and myers (1999) developed a model of the pecking order theory, where if the company needs funds from external parties, it will use debt rather than equity. equity will only be used in very urgent, that is if the costs of financial distress due to be so high and the company's debt capacity has been exceeded. the first step is to solve equation (1). equation (1) is used to test equation (2), (3), and (3). each model with an explanation of the variables is described as follows. δltdt + δstdt + δeqt = divt + it + δwct – ct = fint (1) where: δ : change of variables from time t-1 to t ltdt : long-term debt time t stdt : short-term debt time t eqt : equities time t divt : cash dividend time t it : investment time t wct : working capital time t ct : cash time t fint : deficit / surplus of finance time t δtdt = α 0 + α1fint + φt (2) according to the shyam-sunder and myers (1999) and cotei and farhat (2008) total financing debt is separated into long-term debt and short-term debt as follows. tdt = ltd t+ stdt δltdt = δ 0 + δ1fint + v t (3) δstdt = γ 0 + γ1fint + ξ t (4) pecking order..... (priska ralna eunike culata; tri gunarsih) 45 the simplest form of the pecking order model is the prediction that α 0 is zero and α1 close to 1. δ 0 +γ 0 = α 0 ; δ1+ γ1 = α1 (constant) φt ; v t ; ξt error terms the test of trade-off theory in this study conducted by the method of partial adjustment process (used also by fama and french, 2002; flannery and rangan, 2006) as follows: where: = actual debt ratio = target debt ratio = error term which ~ idd (0, σe ^ 2) δ = the speed of adjustment econometric specification of the target debt ratio is: where : = coefficient = k-th factor for the company i know t = the specific influence of the companies that do not depend on time λ_t = the specific influence of the time that is independent of the company if equation (5) is substituted into equation (4), it will obtain: where: = constant equation of time series = constant cross section equation furthermore, to simplify the above equation, then we let = (1 δ ); = δ ; = δ ; = δ ; and = , the equation becomes: according to dang (2006), the determinant factor of the target debt ratio, are as follows: (1) collateral value of assets (cvas), ratio between tangible fixed assets ratio and the total assets, both are the book values; (2) non-debt tax shield (ndts), measured by the depreciation divided by total assets; (3) profitability (prft), measured bu profit to total assets ratio or total equity. this study used return on assets; (4) growth (grth), measured by the change of total assets or total sales. this study 46 journal the winners, vol. 13 no. 1, maret 2012: 40-49 used the change in total assets is to calculate the average growth rate of assets; (5) size (size), measured by ln of total assets or ln of total sales. this study used the ln of total assets. results and discussion this section describes the research finding, consists of descriptive, pecking order theory testing and trade-off theory testing. descriptive statistics descriptive statistics of variables are as in table 2 and table 3 with minimun and maximum value, mean and standard deviation. table 2 descriptive statistics of pecking order theory testing variable minimal maximal mean std.deviation cf (cash flow) -7,155,464 4,367,252 -41089.533981 1558730.3515502 div (dividend) 0.0000 11.381 2296.155340 1949.4504543 c (net cash flow) -1.3044e11 4.4724e12 7.165906e10 4.7581338e11 e (equity) -5.7583e10 3.3792e12 1.120433e11 4.3085753e11 d (debt) -8.l2864e11 1.0939e12 5.968288e10 2.2235432e11 dl (long term debt) 1,848 9.6014e11 3.602083e10 1.3464464e11 ds (short term debt) 8,740 9.7890e11 9.196623e10 2.1238639e11 def (deficit cash flow) -6.9873e11 4.1678e12 1.717262e11 5.8200594e11 table 3 descriptive statistics of trade-off theory testing variable minimal maximal mean std.deviation debt (debt) 34,612 1.2557e13 3.250385e11 1.4180761e12 equity (equity) 31,965 1.2800e13 5.479079e11 1.6037184e12 fa (fixed assets) 81,634 1.7056e13 4.255828e11 1.9168259e12 ta (total asset) 791,575 3.0379e13 1.283002e12 3.7942159e12 dep (depresiation) 6,756 7.1077e12 2.172806e11 9.4982971e11 lb (earning afrer tax) 11,009 6.2342e12 1.379530e11 6.8487728e11 d_dr (debt ratio) -0.1306 0.0610 -0.009198 0.0214504 cvas (collateral value of assets) 0.0078 3.6151 0.304370 0.4137063 ndts (non-debt tax shield) 0.0001 0.8964 0.175719 0.1859034 prft (profitability -0.1003 0.3677 0.078164 0.0728428 grth growth) -60.8576 0.9610 0.082448 0.6733810 size (size) 5.8985 13.4826 10.061658 2.0743027 dd_dr (debt ratio(t-2)) 0.0000 0.1306 0.017116 0.0215290 pecking order theory testing table 4 presents the results of pecking order testing as in model (2), (3) and (4). the regression results show that all of the three models are statistically significant at the 1% level with f value of 159.536; 17.119; and 32.539 respectively for model (2), (3) and (4). r square and adjusted r square are high only in model (2). pecking order..... (priska ralna eunike culata; tri gunarsih) 47 as described in model testing, the simplest form of the pecking order model is the prediction that α 0 is zero and α1 close to 1. the constant values of model (2), (3) and (4) are 8.344e9, 2.090e10 and 6.103e10 repectively but the t values statistically significant at the 1% level only in model (4). these suggest that α0 for model (2) and (3) are zero, while model (4) is not zero. the t values of coefficient fin (α1) of model (2), (3) and (4) are all statistically significant at the 1% level and the coefficients are 0.299, 0.088 and 0.180 respectively. those coefficients do not close to 1. because of all models haven’t α0 zero and α1 doesn’t close to 1 then the pecking order is not supported. the results are consistent for model (2), (3) and (4). the result of this study is supported fama and french (2002), frank and goyal (2003) and flannery and rangan (2006) that are not supported the pecking order model. table 4 pecking order theory testing model (2) d (delta total debt) model (3) dl (delta long term debt) model (4) ds (delta short term debt) constant 8.344e9 2.090e10 6.103e10 t value ( ) 0.584 1.625 3.199*** fin ( )def 0.299 0.088 0.180 t value 12.631*** 4.137*** 5.704*** f value 159.536*** 17.119*** 32.539*** sig. 0.000 0.000 0.000 0.612 0.145 0.244 0.608 0.136 0.236 n 103 103 103 the second, third and forth colomns are regression results of model (2), (3) and (4) respectively. *** significant at α1% trade-off theory testing table 5 presents the results of trade-off theory testing. the regression results show the model is statistically significant at the 1% level with f value of 247.133 and r square 0.755. table 5 pecking order theory testing coefficients t value sig. constant 0.001 0.215 0.830 dd_dr 0.015 0.567 0.572 cvas 1.586 25.970*** 0.000 ndts 0.024 0.894 0.373 prft 0.064 2.436** 0.017 grth 0.753 1.383*** 0.000 size 0.014 -0.514 0.608 f value 247.133*** r square 0.755 adjusted r square 0.753 *** significant at α1%; ** significant at α5% unfortunately, independent variables are not all statistically significant, described as follows. the coefficient of speed adjustment is +0.015 but not statistically significant. this suggests that the speed adjustment doesn’t influence debt ratio. coefficinet of collateral value of assets +1.586 and statistically significant at α1%. this suggets that the higher the collateral value of assets, the higher 48 journal the winners, vol. 13 no. 1, maret 2012: 40-49 the debt ratio. the coefficient of non-debt tax shield is + 0.024 but not statistically significant. the coefficient of profitability is +0.064 and statistically significant at α5%. this suggests that the higher the profitability the higher the debt ratio. the coefficient of growth +0.753 and statistically significant at α1%. this suggets that the higher the growth the higher the debt ratio. the coefficient of size is +0.014 but not statistically significant. trade-off theory in this study as in fama and french (2002) is suported if α = 0 and coefficient δ ≥ 1. the regression result show that is 0.015. from the equation in research method, = (1 δ), where δ shows the speed adjustment of debt ratio target debt ratio. since δ = 100% 1,5% or the speed adjustment is 98.5% within 2 years, then trade-off theory as in fama and french (2002) is supported. this result also consistent with dang (2006) in english and darminto (2011) in indonesia. conclusion this study presents an analysis of the pecking order theory (pot) and trade-off theory (tot) of capital structure. pot explains that the order of financial sources used by the company was the source of internal funds from profits, short-term securities, debt, preferred stock and common stock last. pot predicts that the issuance of equity (common stock) is the last alternative sources of funding, while tot predicts optimal capital structure. samples in this study are companies listed in the idx during 20092010. the research questions are tested by running regression models as in shyam-sunder and myers (1999) and cotei and farhat (2008) and fama and french (2002). the result of the first test (pot) shows that α 0 is not zero and α1 doesn’t close to 1. this suggests that pot is not supported. the results are consistent for model (2), (3) and (4). the result of the second test shows that even α0 is zero but α1 doesn’t close to 1. this suggests that the pot is not supported. the result of this study is supported by fama and french (2002), frank and goyal (2003) and flannery and rangan (2006) that do not support the pecking order model. the result of the second test (tot) shows that δ as the speed adjustment of debt ratio target debt ratio is 98.5% within two years, then trade-off theory as in fama and french (2002) is supported. this result is also consistent with dang (2006) in english and darminto (2011) in indonesia. this suggests that the capital strucure of listed companies in indonesian stock exchange is financed based on optimal capital structure, not by the order financial resources. references cotei, carmen & farhat joseph. (2008). testing capital structure theories: are the models’s assumptions correctly specified? european journal of economics, finance and administrative sciences, 11. dang, v. a. (2006). testing the trade-off and pecking order theories: a dynamic panel framework, unpublised paper. university of leeds, u.k. darminto. (2010). pengujian teori trade-off dan teori pecking order dengan satu model dinamis pada perusahaan publik di indonesia. seminar on corporate finance, 1-11. fama, e. f. & french, k. r. (2002). testing tradeoff and pecking order predictions about dividends and debt. review of financial studies, 15, 1-33. pecking order..... (priska ralna eunike culata; tri gunarsih) 49 flannery, m. j. & rangan, k. p. (2006). partial adjustment toward target capital structures. journal of financial economics, 79, 469–506. frank, m. z. & goyal, v. k. (2003). testing the pecking order theory of capital structure. journal of financial economics, 67, 217-248. gunarsih, tri. (2003). the impact of governing mechanism (ownership structure) and diversification on the performance of the firms in jakarta stock exchange. unpublished dissertation. gadjah mada university, yogyakarta. jensen, michael c. & meckling, william h. (1976). theory of the firm: managerial behavior, agency cost and ownership structure. journal of financial economics, 3, 305-360. lucas, d. & mcdonald, r.l. (1990). equity issues and stock price dynamics. journal of finance, 45, 1019-1043. myers, stewart c. & majluf, nicholas s. (1984). corporate financing and investment decisions when firms have information that investors do not have. journal of financial economics, 13, 187221. myers, stewart c. (1984). the capital structure puzzle. journal of finance, 39, 575-592. shyam-sunder, l. & myers, s. (1999). testing static tradeoff against pecking order models of capital structure. journal of financial economics, 51, 219-244. tsuji, chikashi. (2011). an international survey of the evidence on the pecking order theory of corporate financing. business and economics research, 1(1). microsoft word 01_widyatama_kharisya_determining a2t determining the best arch/garch …… (kharisya ayu effendi) 71  determining the best arch/garch model and comparing jkse with stock index in developed countries kharisya ayu effendi faculty of business and management in widyatama university, bandung, indonesia kharisya.ayu@widyatama.ac.id abstract the slow movement of indonesia economic growth in 2014 due to several factors, in internal factors; due to the high interest rates in indonesia and external factors from the us which will raise the fed rate this year. however, jkse shows a sharp increase trend from the beginning of 2014 until the second quarter of 2015 although it remains fluctuate but insignificant. the purpose of this research is to determine the best arch / garch model in jkse and stock index in developed countries (ftse, nasdaq and sti) and then compare the jkse with the stock index in developed countries (ftse, nasdaq and sti). the results obtained in this study is to determine the best model of arch / garch, it is obtained that jkse is garch (1,2), while the ftse obtains garch (2,2), nasdaq produces the best model which is garch (1,1) and sti with garch (2,1), and the results of the comparison of jkse with ftse, nasdaq and sti are that even though jkse fluctuates with moderate levels but the trend shown upward trend. this is different with other stock indexes fluctuated highly and tends to have a downward trend. keywords: arch/garch, return stock, stock price abstrak pergerakan yang semakin melambat pada pertumbuhan ekonomi indonesia pada 2014 disebabkan oleh beberapa faktor, faktor internal dikarenakan tingginya bunga di indonesia dan faktor eksternal dari as yang akan menaikkan suku federalnya tahun ini. akan tetapi, jkse menunjukkan tren peningkatan tajam dari awal 2014 hingga kuartal kedua 2015 meskipun masih berfluktuasi akan tetapi tidak signifikan. tujuan dari penelitian ini adalah untuk menentukan model terbaik arch / garch pada jkse dan saham indeks di negaranegara maju (ftse, nasdaq dan sti) dan kemudian membandingkan jkse dengan indeks saham di negaranegara maju tersebut. hasil yang diperoleh dalam penelitian ini adalah model arch / garch terbaik, diperoleh jkse adalah garch (1,2), sementara ftse mendapatkan garch (2,2), nasdaq menghasilkan model terbaik adalah garch (1,1) dan sti dengan garch (2,1), dan hasil perbandingan jkse dengan ftse, nasdaq dan sti adalah bahwa meskipun jkse berfluktuasi dengan tingkat sedang, akan tapi tren yang ditunjukkan adalah kecenderungan meningkat. hal ini berbeda dengan indeks saham lainnya yang berfluktuasi sangat tinggi dan cenderung mengalami tren penurunan. kata kunci: arch/garch, retun saham, harga saham 72   journal the winners, vol. 16 no. 2, september 2015: 71-84  introduction the movement which is getting slowed in indonesia economic growth in 2014 is due to several factors, namely internal and external factors. on internal factors, due to the high interest rates in indonesia. in this case, the bank of indonesia as the central bank to prevent the high inflation caused by pruning subsidies of fuel oil, inhibits the release of capital, ahead of the us monetary tightening, limiting the current account deficit and strengthen of the rupiah by raising the bi rate several times in recent years. prevention efforts are not making the rupiah stronger, but depreciated to rp 13,500/usd. it was also due to external factors from the us which will raise the fed rate this year. slowing economic growth in indonesia is also due to the unstable political and many natural disasters that occurred in the last few years. on the outer, this can lead to doubts or fears of investors to invest in indonesia. but on jkse figure 1, the trend shows a sharp increase from the beginning of 2014 until the second quarter of 2015, although it remains fluctuate, but insignificant. figure 1 movement jkse price source: yahoo finance (www.yahoofinance.com) similar research has been done using the method of arima or arch / garch, such as jati (2014) by determining the best sugar prices using the method of arma and arch / garch. then, nastiti and suharsono (2012) investigated volatility stocks companies go public with archgarch method, which focuses on the analysis of volatility return. mcclain & humphreys (1996), used arch in measuring the risks and the financial behavior of the mining sector. al-raimony and el-nader (2012) examined the volatility of the stock market in jordan, which discusses the same thing about stock volatility using arch / garch. later in the same year they also use this model to test the impact of micro-economic factors on share price returns. previously, urooj, zafar and durrani (2009) have examined the same thing about stock returns using the same method on the kse-100 index. most of the above research analyze only on volatility spiked by using arch / garch. while in this study, in addition to determining the best model in the arch / garch, it also compares the jkse stocks to shares in developed countries. the definition of stock prices according to martono (2007) is “a reflection of asset management, investment decisions and financing”. according to sawidji (2005), "stock price are the price of one investor to another investor after the stock in put on the exchange, both major exchanges or otc (over the counter market) ". supply and demand are the determinant of the price of stocks determining the best arch/garch …… (kharisya ayu effendi) 73  listed on the stock exchange. in times of rising prices, the tendency of investors to sell their stocks led to excess supply, so the price can go back down. when prices go back down, investors tend to buy shares which can lead to excess demand to increase the price again. if the demand for stocks increases, the share price will tend to rise. according to nastiti (2012), stock price movements consist of three kinds: the first is bullish, which stock prices continue to go up over time. this can occur due to global financial circumstances or management policies of the company. second, bearish, which is a state in which stock prices fell and continued investor detriment. investors who own shares can be sold at a low price and get a loss, or can be bought back if there is accurate information about the rise in stock prices in the future. third, sideways, which is a state in which stock prices stable. it is said to be stable because stock prices moves up or down to form a horizontal chart from time to time. this is the main attraction of researchers in conducting this research. amid the global economy that has not been conducive to the issue of the increase in fed rate, unstable political issues, natural disasters that frequently occur, jkse still shows the green trend. this means that the level of investor confidence is still high on the indonesian stock index. based on it, the researcher wrote a research, entitled " determining the best arch/garch model and comparing jkse with stock index in developed countries ", with the purpose of this research is to determine the best arch / garch model on jkse and stock index in developed countries (ftse, nasdaq and sti). then compare jkse with the stock index in developed countries (ftse, nasdaq and sti). this was done in an effort to show the world, that the stock index in indonesia still the rising trend although hit by the economic and political instability in the country as well as the global economy has not been conducive. method the data used in this research is secondary data time series for the data stock index in indonesia, jkse and several stock index in developed countries like the us (nasdaq), london (ftse), singapore (sti). the data used in this study is the return of stock prices taken from the date of 02 january 2014 to 24 june 2015. this taken data are meant to see volatility jkse price, which in range of time rupiah / usd was weakened compared to stock indexes in developed countries like us, london and singapore (www.idx.co.id). the data was taken in the form of closing stock prices. data is processed using software reviews and use the instructions of winarno (2009). the arma/arima model before explaining models of arch and garch, the first discussed variable that affect stock prices. the model used is the technique of box-jenkins. box-jenkins models is commonly called as autoregressive integrated moving average model (arima). box and jenkins popularize the method which consists of three stages in selecting a suitable model for estimating and forecasting univariate time series data, the model identification, parameter estimation, and forecasting (enders, 1995). arima model is a combination of autoregressive models (ar) and moving average (ma). both models require the data to be analyzed and moves along a constant average (stationary). if the data is not stationary, then the stationary process data using the differentiation process. arima is a combination of ar and ma models through different processes. arima models have time slackness. inaction first time period in a process called autoregressive first order autoregressive or abbreviated ar (1). the symbol to denote the number of inaction at the time of the autoregressive process is p. inaction first time period in a process called a moving average moving average of first-order or abbreviated ma (1). the symbol for the number of inaction when the moving average process is q. the value of p and q values can be more than 1. different process on arima models aimed at obtaining data stationary. different process can be performed once or may be done more than once 74   journal the winners, vol. 16 no. 2, september 2015: 71-84  until the data is stationary. usually, different process is not more than 2 times. different process the data symbol is d. writing arima models for ar (p), ma (q), and different times as much d is arima (p, d, q). for example in an arima process using a first-order autoregressive, moving average first-order, and differentiate once to obtain data stationary, then the writing is arima (1,1,1). gujarati (2003) described the box-jenkins methodology into four steps, namely: identification, estimation, diagnostic examinations, and forecasting. for instance, in creating a model to predict the value of y. the general form of autoregressive model order of p or ar (p) is: … (1) : observed variables : constant autoregressive … : parameter … common forms of moving average models order to q or ma (q) is: … (2) : observed variables : constant moving average . . . : parameter . . . common form of arima model with autoregressive order for p and q as moving average order are: … + … (3) there are four steps in determining the best arima. the first step in the process is the identification of arima. this step is performed to determine whether the observed data is stationary. if not stationary, do different process until the data is stationary. after that, makes correlogram distribution data to determine the order of the autoregressive and moving average order. order selected is inaction time coefficient autoregressive and partial autoregressive coefficients are significant. the determination of the order of (inaction time) for ar and ma is done by trial and error. identification tool used is the autocorrelation function (acf) and partial autocorrelation function (pacf) on the table correlogram. the concept of partial autocorrelation analogous to the concept of partial regression coefficients in the k-variable regression, regression coefficient βk measures changes in the average value regression and on changes in the unit k regression xk .. partial autocorrelation ρkk measures the correlation between observations (time series) in the period of time k after controlling for correlations at intermediate lag. in addition to the saw table correlogram, the formal stationary test can be applied by using the dickey-fuller unit root test (gujarati, 2003). the second step is to estimate the parameters of the autoregressive and moving average parameters based order (p and q) obtained at the stage of identification. the third step is to perform a diagnostic test. after getting estimator of arima model, then choose a model which explains the data well. the third step is iterative and requires a special expertise to choose the right arima model, so the arima modeling is more to art than scientific (gujarati, 2003). a good model is a model that has randomly distributed residuals (white noise). the test is performed by comparing the magnitude of the coefficient autoregressive (acf) and partial autoregressive coefficient (pacf) residual obtained from residual correlogram. if the coefficient of acf and pacf coefficients were not significant (the coefficient value is smaller than the critical value), then the model obtained is white noise (residual randomly distributed). determining the best arch/garch …… (kharisya ayu effendi) 75  the fourth step is to forecast the value of observed variables. one reason for its popularity is the arima model in forecasting success. in some cases the predictions obtained from this method is better than traditional econometric forecast models, especially in the short term. the arch/ garch model assuming a constant residual variance or homoskedasticity which are generally used in modeling of time series data. but in fact, the residual variance is not constant or heteroskedastisity occurred in many time series data, especially in the the financial sector time series data. this led to the assumption that homoskedasticity modeling cannot be used. engle (1982) introduced the arch models or autoregressive conditional heteroskedasticity that can be used to analyze the time series data contained heteroskedasticity. however, this model can be used after the proven data auto regression is stated to be heteroskedasticity. arch models can be formulated as follows: ⋯ (4) then in 1986, bollerslev develop arch models, became a model garch or generalized autoregressive conditional heteroskedasticity used to avoid arch a large and gives results more practical than the previous model, similar to the conditions in which the arma model is preferred over the ar model. parameter arch / garch can be predicted with maximum likelihood method and if the data distribution abnormal, garch specifications can still provide a decent model parameters a consistent and forecasting based on linear quadratic v, the quasi maximum likelihood method that is by maximizing the log likelihood function. garch models can be formulated as follows: ⋯ ⋯ (5) many economists explain that economic agents are not only providing a response to the mean, but also economic events which are very volatile. with conditions such variants are likely to be high, the traditional econometric models cannot explain validly in estimating and perform forecasting time series data. in this case the stock price that has high volatility which is certainly a variant of such data cannot be constant (homoskedasticity) that violates the classical assumptions. engle (1982) proposed a model called the conditional autoregressive heteroscedasticity (arch). the model was applied to analyze the behavior of inflation in the united kingdom in the period 1958: 2-1977: 2. the equation used is first order auto regression and was estimated using arch models. in his paper, engle explained that the model with time series data with high volatility tended to contain the problem of heteroscedasticity. the valuation method used by engle is maximum likelihood (ml) with arch models and compared it to the estimated ols models. the result indicates that the model arch-ml was able to deliver results in a more realistic prediction of the variant compared with ols. bollerslev (1986) enhanced arch models developed by engle (1982), but within the framework of the same analysis. this was done by incorporating elements of past residuals and residual variance in the equation autoregressive. the model is called as the generalized autoregressive conditional heteroscedasticity (garch). by using the inflation data in the u.s. with autoregressive equation, bollerslev tried to re-evaluate inflation arch model by engle. the results showed that by incorporating elements of the residual variance in the regression equation produces better than arch models. in this study the data used is stock index data. 76   journal the winners, vol. 16 no. 2, september 2015: 71-84  results and discussion figure 2-4 below are stick indexes in several countries, namely: indonesia, london, usa, and singapore from january 2, 2014 until july 25, 2015, at which time range the indonesian stock index was fluctuate but still experiencing upward trend. figure 2 jkse figure 3 ftse figure 4 nasdaq figure 4 sti (sources: yahoo finance (www.yahoofinance.com)) another case with indonesia, stock indexes in developed countries such as london, usa and singapore fluctuate very high, and tend experiencing downward trend. stock indexes above shows a sharp decline in the 3rd quarter and 4th in 2014 and 2nd quarter of 2015, which led to high fluctuations. unlike the indonesian stock indexes, even though it was fluctuating, but it still showed upward trend until the second quarter of 2015. this indicates the risk of the stock index in indonesia was lower than developed countries, as represented in this paper, namely london, usa and singapore. it is tempting for investors to avoid risk and prefer to invest in stocks that tend to be more stable. indonesia is currently experiencing instability of the rupiah and stock index caused by several factors, but in developed countries, indonesia stock index tends to be more stable with upward trend. determining the best arch/garch …… (kharisya ayu effendi) 77  stationarity test to determine whether the data used has a stable deployment or not, testing stationary as a preliminary step is required, prior to the determination of the model. this study used unit root test with augmented dickey-fuller test (adf). in the adf test, to determine the data is stationary or not visible from p-values should be less than α (5%). table 1 unit root test on level (sources: yahoo finance (www.yahoofinance.com) and calculate) table 1 show that the test unit root at the level of p-values in the entire index <0.05 (5%), which means that all the data is stationary. after all, the data are certainly stationary at further level (which means not necessary first difference) in determining the best model of arma (arima will be used if the data is experiencing first difference when the unit root test). the best arma model the best arma models derived from trial and error is described in table 2 below: table 2 the best arma model (sources: yahoo finance (www.yahoofinance.com) and calculate) from table 2, it is obtained the best model of arma. at jkse, best arma model be obtained arma (1,2). on the ftse, best arma model be obtained arma (1,1). on the nasdaq, best arma model be obtained (0.1). and the sti, the best model obtained arma (1,1). things that become the best model on the arma determination of results trial and error, determine the value of the smallest sum squared residuals, akaike information criterion value the smallest, can also see the value of schwarz criterion (sc) and adjusted r-squared smallest. in this case, the researchers also assessed the probability of each variable is less than 0.05. 78   journal the winners, vol. 16 no. 2, september 2015: 71-84  the best arch/garch model table 3 descriptive statistics data jkse, ftse, nasdaq and sti (sources: yahoo finance (www.yahoofinance.com) and calculate) in the descriptive analysis of the statistics above describe a positive skewness value on the each composite index. the value of skewness is an asymmetry measurements distribution data. the value of 0.654877 on the jkse, 0.214684 on the ftse, 0.445964 on the nasdaq, and 0.395809 on the sti, indicate that the data distribution has a longer tail to the right hand. furthermore, kurtosis value is greater than three for each stock index, which means that, the value of kurtosis over the three showed early symptoms of heteroscedasticity. it also appears on the jarque-bera test with a probability value of <0.05 which means that the data distribution is abnormal, as seen in table 3. figure 5 changes in the level of daily return on all stock index (sources: yahoo finance (www.yahoofinance.com) and calculate) figure 5 illustrates the differences between the top point with the bottom is very large. this indicates visually for heteroscedasticity. the existence of heteroscedasticity can also be assessed from the probability value (p-value) on the trial and error of arma <0.05 which means that the arma (1,2) on the jkse, arma (1,1) on the ftse, arma (0,1) on the nasdaq and arma (1.1) on the sti contained arch effects. if an analysis has to determine the existence of heteroscedasticity on all that exist in stock index data, the next step is to test the models of arch / garch to determine the determining the best arch/garch …… (kharisya ayu effendi) 79  best model. in determining the model arch / garch best through trial and error, and by looking at either one of values aic and sc its lowest and has a significant coefficient values <0.05. table 4 testing arch/garch jkse arma (1,2) (sources: yahoo finance (www.yahoofinance.com) and calculate) c = coefficient a1 = arch 1 a2 = arch 2 g1 = garch 1 g2 = garch 2 aic = akaike info criterion sc = schwarz criterion ssr = sum squared residual, ars is adjusted r-square. in some sources, it is said that in determining the best model of arch / garch than to see the value of aic and sc the lowest, can also see the value of ssr and ars lowest. in 4 it can be found the best model of jkse is garch (1, 2). preliminary analysis can be seen from the coefficient values of <0.05, then it can be seen from aic and ars with the first lowest value, after that, the value of the sc with the second lowest value. these can strengthen the results of alleged arch / garch as the best models on jkse. table 5 testing arch/garch ftse arma (1,1) (sources: yahoo finance (www.yahoofinance.com) and calculate) 80   journal the winners, vol. 16 no. 2, september 2015: 71-84  table 5 shows the results where the best models of arch / garch on the ftse is garch (2,2). this analysis indicated from coefficient values of <0.05, the lowest aic value with 10.66961. it can strengthen the results of alleged arch / garch the best models in the ftse in the period january 2014 june 2015. table 6 testing arch/garch nasdaq arma (0,1) (sources: yahoo finance (www.yahoofinance.com) and calculate) results obtained from table 6 above shows the best model of nasdaq, which is the garch (1,1). obtaining the results of the best model through analysis alleged lowest value of aic and sc. it can strengthen the results of alleged arch / garch as the best models of nasdaq stock index in the period of january 2014 june 2015. table 7 testing arch/garch sti arma (1,1) (sources: yahoo finance (www.yahoofinance.com) and calculate) in the table 7 it can be concluded that arch / garch the best model on the sti is garch (2, 1). the above results are the analysis results taken from its lowest value of aic and sc. it can strengthen the results of alleged arch / garch as the best model on the sti in the period of january 2014 june 2015. the model of garch (1,2) on the jkse, garch (2,2) on the ftse, garch (1,1) on the nasdaq and garch (2,1) on the sti is alleged as the best models. further analysis the above jarque berra (on descriptive statistics) shows that the probability value of <0.05, shows that the distribution of the data abnormal. this method is an abnormality prediction of garch model used is the quasi maximum likelihood. further examination test the raw residual acf. there is no heteroscedasticity in the expected raw residual. assessment models free from heteroscedasticity is the probability value > 0.05. table 8 shows the results of ljung box are used. determining the best arch/garch …… (kharisya ayu effendi) 81  tabel 8 jkse heteroskedasticity test (sources: calculate) table 8 shows the probability that has been > 0.05, which is 0.6351, which means that the model garch (1,2) has been free from the heteroscedasticity. thus it can be said that jkse have heteroskedastic volatility movement which is significant. thus garch (1,2) on jkse is a good model. tabel 9 ftse heteroskedasticity test (sources: calculate) table 9 shows the probability > 0.05, which is 0.3212, which means that the model garch (2,2) has been free from the heteroscedasticity. thus, it can be said that ftse have heteroskedastic volatility movement which is significant. thus, garch (2,2) on ftse is a good model. tabel 10 nasdaq heteroskedasticity test (sources: calculate) table 10 shows the probability > 0.05, which is 0.6641, which means that the model garch (1,1) has been free from the heteroscedasticity. thus, it can be said that nasdaq have heteroskedastic volatility movement which is significant. thus garch (1,1) on nasdaq is a good model. tabel 11 sti heteroskedasticity test (sources: calculate) 82   journal the winners, vol. 16 no. 2, september 2015: 71-84  table 11 above shows the probability that is > 0.05, which is 0.8398, which means that the model garch (2,1) has been free from the heteroscedasticity. thus it can be said that sti have heteroskedastic volatility movement which is significant. thus garch (2,1) on sti is a good model. forcasting the model of garch (1,2) on jkse, garch (2,2) on the ftse, garch (1,1) on the nasdaq and garch (2,1) on the sti is the best variety of models used in forecasting. figure 6 forecast jkse (sources: calculate) forecast data showed that the mean absolute percent error (mape) on jkse with model garch (1,2) is 0.82%, which means that the error rate in predicting future stock prices is small, only about 0.82%. however mape in stock index is the second largest after the nasdaq by 2.63% figure 7 forecast ftse (sources: calculate) forecast data showed that the mean absolute percent error (mape) on ftse with garch model (2.2) is 0.57%, which means that the error rate in predicting future stock prices is small, only determining the best arch/garch …… (kharisya ayu effendi) 83  about 0.57%. in this prediction indicates the level of error in predicting smaller than jkse and larger when compared with the sti just 0.43%. figure 8 forecast nasdaq (sources: calculate) figure 8 forecast data showed that the mean absolute percent error (mape) on the nasdaq with the model garch (1,1) is 2.63%, which means that the error rate in predicting future stock prices is small, only about 2.63%. however, compares to other stock indexes, nasdaq is the highest mape. figure 9 forecast ftse (sources: calculate) forecast data in figure 9 that the mean absolute percent error (mape) on sti with garch model (2.1) is 0,43%, which means that the error rate in predicting future stock price is the smallest, only about 0,43% compared to other stocks. it can also provide input to the investors to buy the stock. however, mape is not the only indicator in determining investment. from the trend and movement of stocks above, it is showed that jkse is a stock index in developing countries which shows a rising trend amid weak exchange rate and the increasing issue of the fed rate. 84   journal the winners, vol. 16 no. 2, september 2015: 71-84  conclusion it can be concluded that the best model that has been determined arch / garch on jkse, ftse, nasdaq and each sti is garch (1,2), garch (2,2) garch (1,1) and garch (2,1), alleged model have been tested for feasibility with ljung box test and get the maximum result that the model has been free from heteroscedasticity. furthermore, a comparison obtained from the results above is, jkse is a stock with an upward trend even though the economic and political instability in the country was also a problem that the fed rate issue to rise this year, but it has no effect on the stock price on jkse. another case with the stock in developed countries such as the ftse, nasdaq and sti are experiencing high volatility and tend to downward trend. other than to the issue fed rate to rise, the greece crisis also greatly impact on its stock price movements. references al-raimony, a. d., & el-nader, h. m. (2012). the sources of stock market volatility in jordan. international journal of economics and finance, 4(11). al-raimony, a. d., & el-nader, h. m. (2012). the impact of macroeconomic factors on amman stock market returns. international journal of economics and finance, 4(12). bollerslev, t. (1986). generalized autoregressive conditional heteroskedasticity. journal of econometrics, 31(3), 307-327. enders, w. (1995). applied econometrics time series. new york: john wiley and sons. engle, r. f (1982), autoregressive conditional heteroskedasticity with estimates of the variance of uk inflation. econometrica, 50(4), 987-1008. gujarati. (2003), econometría, méxico: mcgraw hill. jati, k. (2014). analysis of sugar prices volatility using arma and arch/garch. international journal of trade, economics and finance, 5(2), 136-141. mcclain, k. t., humphreys, h. b. (1996), measuring risk in the mining sector with arch model with important observations on sample size. journal of empirical finance, 3(4), 369-39. martono, harjito. (2007), management in finance. djogjakarta: ekonisia. nastiti, s. (2012). volatility analysis of stocks companies go public with arch garch method. jurnal sains dan seni its, 1(1). sawidji, w. (2005). healthy ways to invest in stock market. jakarta: pt. elex media komputindo. urooj, s.f., zafar, n., & durrani, t.k. (2009). finding the stock return volatility: a case od kse100 index. interdisciplinary journal of contemporary research in business, 1(4), 65-80. website yahoo finance http://finance.yahoo.com winarno, w.w. (2009). analisis ekonometrika dan statistika dengan eviews. yogyakarta: upp stim ykpn. microsoft word 04_piksi_arif_a2t 108   journal the winners, vol. 16 no. 2, september 2015: 108-119  the effect of motivation on employee performance in biological product division of pt medion bandung barat arif yusuf hamali1; ai siti khodijah2; ine febriyanti3 prodi komputerisasi akuntansi, politeknik piksi ganesha bandung jln. jend. gatot subroto 301, bandung, jawa barat, indonesia 40274 1arifyusufhamali@yahoo.co.id; 2ayaythea@gmail.com; 3neozrcq@gmail.com abstract this research was conducted at biological product division of pt medion bandung barat, aimed to determine correlation of motivation and employee performance, and also to analyze the effect of motivation on employee performance at biological product division of pt medion bandung barat. respondents of this research were 45 people, selected with simple random sampling technique. the methods used were descriptive and associative, which tested the connection using the spearman rank correlation analysis, and to determine the accuracy of measurement using the validity and reliability test. results of the validity and reliability test of variables x and y are valid and reliable. calculations were performed using spss software version 19. the result of this study showed that motivation is in the category of good and employee performance is also in the category of good. results showed the correlation of motivation with employee performance at biological product division of pt medion bandung barat with correlation coefficient of 0,568. based on the criteria champion, this relationship is in the criteria of strong enough relationship. results of this calculation showed the coefficient of determination is 32, 26%. it is showed that the hypothesis is proved that there is an influence of motivation to employee performance at biological product division of pt medion bandung barat. keywords: correlation; motivation; employee performance abstrak penelitian ini dilaksanakan pada divisi produk biologis dari pt medion bandung barat yang bertujuan untuk menentukan korelasi antara motivasi dan performa dari karyawan, dan juga untuk menganalisa efek motivasi terhadap performa karyawan pada divisi produk biologis dari pt medion bandung barat. responden pada penelitian ini berjumlah 45 orang, dipilih dengan teknik simple random sampling. metode yang digunakan adalah metode deskriptif dan asosiatif, yang hubungannya diuji menggunakan analisis korelasi spearman rank, dan untuk menentukan akurasi dari pengukuran menggunakan validity dan reliability test. hasil dari validity dan reliability test untuk variabel x dan y adalah valid dan reliabel. penghitungan menggunakan software spss versi 19. hasil dari penelitian ini menunjukkan bahwa motivasi termasuk dalam kategori baik dan performa karyawan juga termasuk dalam kategori baik. hasil menunjukkan adanya korelasi dari motivasi dengan performa karyawan dari divisi produk biologis pada pt medion bandung barat dengan koefisien korelasi adalah 0,568. dari kriteria tersebut, hubungan ini menunjukan bahwa kriteria cukup kuat. hasil dari penghitungan menunjukan koefisien determinasi adalah 32, 36%. dapat dilihat bahwa hipotesis tersebut terbukti, bahwa adanya pengaruh motivasi terhadap performa karyawan pada divisi produk biologis dari pt medion bandung barat. kata kunci: korelasi; motivasi; performa karyawan the effect of motivation …… (arif yusuf hamali; dkk) 109  introduction motivation to perform an activity appears because there are needs to be fulfilled. if needs are fulfilled, the motivation will weaken, then an idea is developed that motivation is also to achieve particular goals (wibowo, 2013). motivation can be developed if there are new needs and goals. if fuilfilling needs is human interest, the goals can be human or organizational interest. employees who have motivation to achieve their private goal must increase their performance. if employee performance is increased, the organizational performance will be increased too, which will affect individual, group and organizational performance to develop. one way to motivate an employee starts from learning how to affect individual behavior. motivation affects employee performance positively and significantly (santoso, 2005; glorianto, 2005; sulastri, 2007; teguh, 2009; helmy, 2010; wiratmoko, 2011; harshanty, 2011; amianti and supriyanto, 2012; soekardi, 2012; bachtiar, 2012; ekaningsih, 2012; haryono, 2012; mishan, 2012; andayani, 2012; iskandar, 2012; murti and srimulyani, 2013; negara, dkk, 2014). intrinsic motivation such as job responsibility, opportunity for improvement, and job satisfaction affects employee performance significantly, but intrinsic motivation like other’s achievement and recognition does not. (juliani, 2007). working motivation has positive relationship with employee performance as shown in employee behavior through self development like trainings, responsibility on tasks given by superior, appreciation and promotion based on performance evaluation (sjafei, 2011). the fluctuation of employee performance can be seen from the motivation given to employee. someone who has high motivation in work tends to do the job well and maximally (murty and hudiwinarsih, 2012). pt medion is a company moving in vitamin, vaccine, and weft production for fowl, which is located in batujajar permai cimareme industry district – bandung barat. the declining of work motivation in biological product division of pt medion bandung barat is shown in table 1. table 1 30 employees’ opinion about the cause of work motivation declining based on initial interview in biological product division of pt medion bandung barat employees’ opinion yes no health insurance given by company is adequate -30 employees are involved in management decision making -30 source: the result of initial interview in biological product division of pt medion bandung barat, 2015 data in the table above shows that health insurances given by company are inadequate, since they are only provided to the employees and are not applicable for their families. also, the employees state that they have not been involved in management decision making, so when there is problem, there is no solution based on objective considerations from the employees. the phenomena of employee performance in biological product division of pt medion bandung barat based on data obtained from hrd shows that it is not optimal. the non-optimal employee performance is based on assessment data of achievement obtained from hrd, which is: (1) employees are not skilled and swift in working; (2) employees do not understand the work instructions given by superior well; and (3) employees also do not have good knowledge about the tasks that must be done. the other phenomena, which causes the non-optimal employee performance is inadequate facility and unconducive organizational climate. those phenomena are shown in table 2. 110   journal the winners, vol. 16 no. 2, september 2015: 108-119  table 2 30 employees’ opinion about the cause of non-optimal employee performance based on initial interview in biological product division of pt medion bandung barat   employees’ opinion yes no facility like office inventory given by company is complete -30 employees’ workplace is adequate (supported by the room size, lighting, ventilation, air conditioner) -30 organizational climate like work atmosphere is conducive -30 source: the result of initial interview in biological product division of pt medion bandung barat, 2015 based on the explanation and data in table 2, the analyzed problem can be formulated. first, it is how motivation and employee performance in biological product division of pt medion bandung barat are. second, whether there is significant effect of motivation on employee performance in biological product division of pt medion bandung barat. the goal of this research is to find out the relationship between motivation and employee performance in biological product division of pt medion bandung barat. this research is also to find out that there is significant effect of motivation on employee performance in biological product division of pt medion bandung barat. the term of motivation is from latin, movere, which means “move” (winardi, 2002). motivation is formulated as psychological process, causing persistence of voluntary activities to appear, direct, and happen for particular goal. a very motivated person is someone who does substantial effort to support the production goal and organization where that person works. a person who is not motivated only provides minimum effort in working. motivation is not the only important determinant for individual performance, since there are other determinants such as deployed working effort, ability of connected person, and previous work experiences. motivation to perform an activity appears because there are needs to be fulfilled. the motivation will weaken if the needs are fulfilled. motivation is a push on series process of human behavior to achieve goal (wibowo, 2013). the contained element in motivation covers element of raising, directing, protecting, showing intensity, continuity, and goal. there is common interest between humans as workers and organization. on one side, workers work for compensation to fulfill their needs, and on the other side, for achieving goal to actualize their work achievement. organizational performance is actualized by the collection of performance from all workers to achieve organizational goal. the understanding of motivation term is classified into motive, motivation and work motivation (mangkunegara, 2007). motive is stimulated need orienting in individual goal in achieving satisfaction. motivation is defined as a condition which moves human to particular goal. work motivation means a condition which has influence in rising, directing and maintaining behavior related to work environment. the dimensions of motivation based on hierarchy of needs by maslow (in mangkunegara, 2007) consist of: (1) physiological need is needs to eat, drink, have physical protection, breath and sex. (2) safety needs is needs for protection from threat, danger, argument, and environment. (3) social needs or sense of belonging needs, which is needs to be accepted by group, affiliated, interacted, and needs to love and to be loved. (4) esteem needs is needs to be respected and appreciated by others, and (5) self actualization need is needs to use ability, skill and potency. the dimensions of motivation analyzed in biological product division of pt medion bandung barat are: (1) safety need consists of indicators like health insurance and pension insurance, (2) social need consists of indicators such as employees’ involvement in decision making and relationship the effect of motivation …… (arif yusuf hamali; dkk) 111  between colleagues, (3) esteem need consists of appreciation indicators on employees’ achievement and fair treatment from superior. performance is defined as the result of work or work achievement (wibowo, 2013). actually, performance has wider definition; it is not only about work achievement, but also how the process of working takes place. performance is the result of work which has a strong relationship with strategic goal of organization, consumer satisfaction, and contribution to economy. performance is about what is done and how to do it. the concept of performance is abbreviation of work and kinetic energy which in english is performance (wirawan, 2009). the performance term is often said as performa or kinerja in bahasa indonesia. performance is the output resulted from functions or indicators of a job or profession in particular time. job is activity of completing or making a thing which only needs power and particular skill done by blue collar worker. profession is job which needs mastering and applying knowledge that has been studied in university like done by professional or white collar worker. the performance term is from job performance and actual performance. the meaning of job performance is the result in quality and quantity achieved by an employee in performing the task with responsibility given (mangkunegara, 2007). the dimensions or factors that affecting performance are: (1) ability factor, which is psychological factor owned by an employee in form of potential ability (iq) and ability (knowledge + skill); and (2) mental factor, which is factor formed from employee’s behavior in facing work situation psychophysically. an employee must be ready mentally and physically, understands the main goal and target which will be achieved, utilized and created in working situation.   the dimensions of performance analyzed in biological product division of pt medion bandung barat are: (a) ability factor consists of indicators like accuracy in completing work, precision and seriousness in working, ability and quickness in working, understanding of work instruction, and knowledge of task. (b) mental factor consists of indicators like direction and trust from superior, colleagues’ support, adequate facility, and conducive work climate. based on the explanations, the hypothesis then can be formulated that it is expected for motivation to affect employee performance significantly in biological product division of pt medion bandung barat. the framework of research can be seen in figure 1. independent variabel (x) dependent variabel (y) figure 1 framework method research methods used in this research are descriptive and associative. basically, descriptive research is a process of generalization of a research result based on one sample and its research variable is independent, so the hypothesis is not in form of comparison or the relation between two variables or more (sugiyono, 2006). associative research aims to analyze the relation between motivation (x):  safety need  social need  esteem need performance (y):  ability factor  mental factor 112   journal the winners, vol. 16 no. 2, september 2015: 108-119  variables in population through the variable relation data in sample, while the hypothesis is to test the existing correlation coefficient on the sample that is to be applied to all samples taken (sugiyono, 2006). population is generalization of territory consisting of object/subject that have particular quality and characteristic as set by researcher to be studied, and then will be concluded (sugiyono, 2006). population of this research is employees in biological product division of pt medion bandung barat, approximately 51 people. the sample is the amount and characteristic which is owned by the population (sugiyono, 2006). the determination of sample in this research uses slovin’s formula: description: n = sample n = population e = the percent of inaccuracy due to mistake in taking sample that can still be tolerated, taken= 5% n 51 1 51 0.05 2   51 1 0,1275 45,23 rounded to 45 people with n = 51 and e = 5%, it is obtained that n= 45,23 rounded to 45. thus, the sample is about 45 respondents. the technique of sampling done is simple random sampling because the sampling is performed randomly without paying attention to the level in the population, and this is done if the population is considered as homogeny (sugiyono, 2006). data used in this research is primary source data and secondary data. primary data is a collection of data done directly on the analyzed object to obtain the answer from the respondents. secondary data is data obtained from company, literature, and other information which are considered relevant and supporting the research. method used to collect data is closed system questionnaire, which means for each question it is provided with the answers. questionnaire used in this research is likert scale. the scale is made by gradation from strongly disagree (score=1) to strongly agree (score=5). analysis obtained in this research is descriptive and associative. descriptive analysis uses weighting analysis, and to find the standard weight value, it can be completed by finding the length of weight range. the standard weight value can be determined by finding the length of weight range from five classifications, with step as follows: description: r = the range of classification r r = 36 n n 1 n e 2 (1) r the highest score x the amount of sample the lowest score x amount of sample 5 (2) the effect of motivation …… (arif yusuf hamali; dkk) 113  the weighting is divided into five levels based on the classification above, started from the lowest level to the highest level with the weight range above 36. the classification of standard weight value is generated in table 3. table 3 the standard weight value associative analysis is done to see how the effect of independent variable on dependent variable, in this case, the effect of motivation (x) on employee performance (y) in biological product division of pt medion bandung barat, by using spearman’s rank: where: r1 = correlation analysis di = difference of two variable n = sample the test of correlation coefficient is done to find out the truth of hypothesis presented in this research by using t-test formula: where: r = correlation coefficient n = sample t-test is performed to prove that motivation variable (independent variable) affects employee performance (y variable) significantly, with provision as follows: (1) if tcount > ttable, then motivation affects employee performance significantly, or ho is rejected and h1 is accepted. (2) if tcount < ttable, motivation does not affect employee performance significantly, or ho is accepted and h1 is rejected. the calculation in data analysis of this research uses spss software version 19. the next step is analyzing the correlation to see the effect of motivation on employee performance by using coefficient of determination with this formula: weight value category 45 – 80 worst 81 – 116 worse 117 – 152 enough 153 – 188 good 189 – 224 best (source: the result of processing primary data, 2015) 1 6∑ (3) 2 1 (4) x 100% (5) 114   journal the winners, vol. 16 no. 2, september 2015: 108-119  correlation or cohesion of the relation between free variable and bound variable is classified by kuncoro and riduwan (2007), as seen in table 4. table 4 interpreting correlation coefficient of r value coefficient interval level of relation 0,80 – 1,000 very strong 0,60 – 0,799 strong 0,40 – 0,599 strong enough 0,20 – 0,399 weak 0,00 – 0,199 very weak (source: riduwan and kuncoro (2007)) results and discussion the result of validity test on x variable (motivation) and y variable (employee performance) states all is valid, based on the criteria if correlation coefficient or r count > 0,3 with significance degree 5% (α=5%), then the statement is valid. the result of validity test on motivation variable and employee performance variable are shown in table 5 and 6. table 5 validity test for motivation variable (x) question r count description health insurance pension insurance involvement in decision making work relationship between colleagues appreciation on employee’s achievement fair treatment from superior 0,681 0,734 0.848 0,721 0,831 0,896 valid valid valid valid valid valid (source: the result of processing primary data, 2015) table 6 validity test for employee performance variable (y) question r count description accuracy in completing work 0,786 valid seriousness and precision in working 0,938 valid ability and quickness in working 0,721 valid understanding of work instruction 0,844 valid good knowledge of task 0,859 valid direction and trust from superior 0,645 valid colleagues’ support 0,637 valid communication between superior and subordinate 0,915 valid adequate facility 0,713 valid conducive work climate 0,848 valid (source: the result of processing primary data, 2015) the effect of motivation …… (arif yusuf hamali; dkk) 115  reliability test on research instrument the result of reliability test on x instrument variable (motivation) and y variable (employee performance) states that all is reliable. the result of reliability test on motivation variable and employee performance variable is shown in table 7 and table 8. table 7 the result of reliability test on motivation variable reliability statistics cronbach's alpha n of items .877 6 table 8 the result of reliability test on employee performance variable reliability statistics cronbach's alpha n of items .932 10 the result of descriptive average weighting for motivation variable shows average value of weight about 177 in good category. this result can be concluded that overall employees’ motivation in biological product division of pt medion bandung barat is good. however, the dimension of safety need has weight value below the average of motivation variable, which is on health insurance about 175, and dimension of social need on indicator of involvement of employees in decision making. the cause of motivation declining is that the program of health insurance applies only for the employees, not for their family. the other cause is employees have never been involved in management decision making by superior, so when there is a problem, employees feel their social need is not fulfilled since their opinion as members of organization are not accepted and appreciated. the result of average weight value on respondents’ opinion about motivation in biological product division of pt medion bandung barat is shown in table 9. table 9 respondents’ opinion about motivation variable no dimension indicator respondents’ opinion weight average weight 5 4 3 2 1 1 safety need  health insurance 9 24 10 2 0 175 178  pension insurance 11 24 10 0 0 181 2 social need  involvement in decision making 11 21 8 5 0 173 175  work relationship between colleagues 11 20 13 1 0 176 3 esteem need  appreciation on employee’s achievement 13 21 9 2 0 180 179  fair treatment from superior 12 22 7 4 0 177 average 177 source: the result of processing primary data, 2015 the result of descriptive average weighting for performance variable shows average value of weight about 165 in good category. thus, it can be concluded that overall employee performance in biological product division of pt medion bandung barat is good. however, there are dimensions that are below the average of performance variable, which are ability factor with indicators like skill and 116   journal the winners, vol. 16 no. 2, september 2015: 108-119  swiftness in working, understanding of work instruction, and good knowledge of task. mental factor also has weight value below the average of performance variable, such as adequate facility and conducive work climate. the result of average weight value on respondents’ opinion about employee performance in biological product division of pt medion bandung barat is shown in table 10. table 10 respondents’ opinion about performance variable no dimension indicator respondents’ opinion weight average weight 5 4 3 2 1 1 ability facctor accuracy in completing work 9 26 10 0 0 179 159 seriousness and precision in working 11 17 17 0 0 174 ability and quickness in working 4 19 16 6 0 156 understanding of work instruction 5 11 24 5 0 151 good knowledge of task 5 8 14 18 0 135 2 direction and trust from superior 15 24 6 0 0 189 170 mental factor colleagues’ support 15 23 7 0 0 188 communication between superior and subordinate 11 17 15 2 0 172 adequate facility 4 19 16 2 4 152 conducive work climate 5 11 23 6 0 150 average 165 source: the result of processing primary data, 2015 the effect of motivation on employee performance in biological product division of pt medion bandung barat can be viewed using spearman’s rank correlation analysis. the result of correlation analysis by using spss software version 19, with r value = 0,568 is shown in table 11. table 11 correlation analysis (nonparametric correlations) the result of spss in table 11 shows that the result is significant on significance level α = 5% (sig. value (2-tailed = 0,000 is smaller than 5%)), which means there is significant effect of motivation on employee performance in biological product division of pt medion bandung barat. the hypothesis test is accomplished to find out the truth of hypothesis presented in this research by using ttest, as follows: correlations motivation employee performance spearman's rank motivation correlation coefficient 1.000 .568** sig. (2-tailed) . .000 n 45 45 employee performance correlation coefficient .568** 1.000 sig. (2-tailed) .000 . n 45 45 **. correlation is significant at the 0.01 level (2-tailed). source: the result of processing primary data, 2015 the effect of motivation …… (arif yusuf hamali; dkk) 117  2 1 (6) where: r = 0,568 n = 45 therefore: 45 2 1 0,568 , t = 4,526 the value of t count is compared to t table, based on the table of distribution that t for db = 452 = 42, α = 0, 05. for the test of two parties, it is obtained that t = 2,017. the calculation shows the value of t count is bigger than value of t table which is 4,526>2,017, then ho is rejected and ha is accepted. therefore, the hypothesis presented in this research is right, which means motivation affects employee performance significantly in biological product division of pt medion bandung barat. next is to find out the relation level, based on the criteria in table 11, with r value = 0, 568, then this relationship is in strong enough criteria. from this result r = 0, 568, it states the contribution of the dimension of x variable (motivation) on y variable (performance), determined by coefficient of determination, as follows: cd = r2 x 100% (7) = (0,568)2 x 100% = 32,26% based on the calculation, with 32,26%, it means this research shows motivation affects employee performance in biological product division of pt medion bandung barat about 32,26%, while the rest about 67,74% is affected by other factors that are not analyzed in this research. conclusion according to result and discussion, it can be concluded that there is significant correlation between motivation and employee performance in biological product division of pt medion bandung barat with correlation coefficient r = 0,568. based on the champion criteria with r value = 0, 568, this relationship is categorized as strong enough. from coefficient of determination, r2 = 0, 3226 is obtained, meaning that in this research, motivation affects employee performance about 32, 26%, while the rest about 67, 74% is affected by other factors that are not analyzed in this research. the result of hypothesis test using t-test shows value of t count is larger than value of t table (4,526>2,017), thus ho is rejected and ha is accepted. those results approve the hypothesis in this research that there is positive effect of motivation on employee performance in biological product division of pt medion bandung barat. suggestions that can be given to the management of pt medion bandung barat based on the result of this research are: first, management of the company should review the policy of health insurance, which is given not only to the employees but also to their family corresponding with existing labor law. second, the superior should involve employees in each management decision 118   journal the winners, vol. 16 no. 2, september 2015: 108-119  making when there is problem, so they are motivated to work due to appreciation and acknowledgement as members of organization. third, the management of company should prepare employees with education and training continuously and effectively to improve their ability, swiftness, understanding and knowledge in doing their task. fourth, the superior should give complete and adequate facility to employees and create conducive work climate and situation to achieve optimal employee performance. considering the result that shows motivation affects employee performance about 32, 26% while the rest 67, 74% is affected by other factors, for the future researchers, they can conduct a research by adding different free variable (x), such as leadership, compensation, and organizational culture which can affect employee performance. references andayani, d. 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(2013). manajemen kinerja. cetakan ketujuh. jakarta: pt. rajagrafindo persada. *corresponding author p-issn: 1412-1212 e-issn: 2541-2388 155 the winners, 21(2), september 2020, 155-161 doi: 10.21512/tw.v21i2.6812 the influence of promotion via line messenger on the attitude of starbucks’ line official account followers vira dessy arisandi1; santi delliana2* 1,2communication department, kalbis institute jl. pulomas selatan kav. no. 22, rt. 4/rw. 9, pulo gadung, jakarta timur 13210, indonesia 1virada467@gmail.com; 2anastasia.santi@kalbis.ac.id received: 18th november 2020/ revised: 01st february 2021/ accepted: 01st february 2021 how to cite: arisandi., v. d. & delliana, s. (2020). the influence of promotion via line messenger on the attitude of starbucks’ line official account followers. the winners, 21(2), 155-161. https://doi.org/10.21512/tw.v21i2.6812 abstract the research aimed to determine the effect of promotion through persuasive messages via line messenger applications on the attitude of starbucks’ line official account followers. the analytical research applied the s-r (stimulusresponses) theory with quantitative approaches and survey methods by distributing questionnaires in analytical to 400 respondents, who are followers of starbucks’ line official account. the research uses sociopsychological tradition focusing on individual social behavior, personal effects, perception, cognition, personality and traits. research findings were based on the answers of respondents who strongly agree on cognitive, contextual, and affective indicators. the research comes up with results indicating that there is a strong influence of promotion via line messenger on the attitude of starbucks’ line followers, where the magnitude is positive. the results find that customers receive starbucks’ promotion messages with positive attitudes and feedbacks as well. it is suggested that future research consider to determine the occurrence of stages of customers’ purchase decision. keywords: online promotion, follower attitudes, line messenger i. introduction society relies on the internet and technology, making the internet increase in public affairs, such as economics, education, and entertainment media. it is considered easy and convenient for users who want to live fast and instant. they use hi-tech smartphones, tablets, laptops, and other devices. previously sending and receiving messages can only be done via short message service (sms), whereas nowadays people send messages through social media such as whatsapp, line, facebook, instagram, etc. with social media, it tends to be easier for users to get information to shop. the total number of active social media users in indonesia is 150 million, and the percentage of the total population is 56%. the total population in indonesia is 268,2 million, according to data provided by we are social (kemp, 2019). social media may be referred to in rulli (2017) as an information collection or place used by its users. the information is like a commodity that can be exchanged, produced, and distributed by users. with the number of growth and users, social media exists to entertain the community and help communicate with other cities efficiently without distance restrictions. the results show that the promotion of line starbucks social media influences consumer purchasing decisions in jakarta, with 50,3% for the variables studied. at the same time, other variables influence the rest. (engriani, fitriana, & cetty, 2019). some companies also use various social media to promote their products and services. if the target market is the millennial generation, social media is considered very influential. millennial generations grow alongside modern technology, so social media becomes the primary medium for accessing information. the coffee consumption of indonesian people tends to increase over the past few years. nowadays, drinking coffee tends to be a lifestyle where someone can spend time having fun (lesmana, 2019). many companies are now choosing to use social media as one of the promotional media. it is because more affordable and effective cost can reach all people without geographical and time constraints. consumers can quickly get information about the product or service (martinus & anggraini, 2018). the research discusses the line messenger’s involvement as a medium to disseminate persuasive messages by promoting starbucks’ line official 156 the winners, vol. 21 no. 2 september 2020, 155-161 account. according to the indonesian dictionary (kbbi), the meaning of convincing is to persuade people to do something. buyers should be able to select their products (in this case, a smartphone), but customers should change their purchasing decisions precisely due to a persuasive message (rakhman, 2019). promotional activities seem to be increasingly important and necessary today. this is due to the distance that has increased between producers and consumers, the number of potential customers, and intermediaries' presence (syam & rachman, 2019). according to jenkis in rulli (2017), several media industry sectors have engaged active viewers as an extension of their marketing, which of course, is to get more meaningful feedback from their fans. they work closely with the audience to produce content and design processes. one aspect which develops from marketing or marketing in the era of media social is persuasive in time or space or use mass media by institutions business, organization non-profit, government or individuals to inform and persuade the public to goods, services, organizations, ideas as a target, target marketing or audience (rulli, 2017). according to ramadanty and widayanti (2020), research results show high positive relationship between sales promotion and brand loyalty through line official account. the rapid growth of social media development leads to great brands’ advertising for their products or services (tjandrawibawa, 2020). starbucks is the biggest tavern coffee in the world. the first starbucks in indonesia was opened at mall plaza indonesia on may 17th, 2002. this coffee shop has 326 branches in 22 cities in indonesia. starbucks is in the eighth position on the official line account rank as the most widely followed by indonesian people. there were 8.500.829 followers tracked on starbucks’ line official account on september 23rd, 2019. they get persuasive personal messages or e-coupons exchanged at starbucks outlets throughout indonesia every day. in addition to starbucks, several compositors are food and beverage companies that join line official accounts, such as excelso and dunkin’ donuts. figure 1 shows examples of broadcast messages by starbucks’ line official account: 1) e-coupons or vouchers that can be exchanged directly at starbucks outlets; 2) persuasive messages such as buy 1 get 1 free, discount up to 50%, and special price discounts for specific dates to customers who bring starbucks official drinking bottles. based on research by romdhoni, hasiholan, and amboningtyas (2020), it can be concluded that the respondents are aware of what starbucks is doing, which in the research discusses green products, green promotion, green processes, green physical evidence, and almost positive perceptions expressed by respondents towards all the marketing mix. with more than eight million followers on the starbucks’ line and persuasive messages they have broadcasted to the followers, the research aims to find whether there is any consideration for potential customers and the influence that starbucks give to people. these vouchers are given a date determined by starbucks’ line to be valid for only one to two days since it is distributed to the followers. one example of a message for one week can be seen in figure 1, in which messages always start with phrases that make customers feel special and lucky. the program is made for entertainment and figure 1 persuasive messages on the starbucks’ line official account 157the influence of promotion via..... (vira dessy arisandi; santi delliana) commercial purposes, so persuasive objective can change the meaning of the program and the brands in the context of brand placement. this shift can lead to detachment and resistance in turn (boerman et al., 2020). therefore, it can be said that persuasive communication affects increasing the income of affiliate marketers through affective and conative cognitive applications (hereyah & hutajulu, 2021). according to aruan et al. (2020), as a reference in organizing an event and using technological developments and digitalization to maximize publication to obtain maximum publicity, miniso can use the nine steps of strategic public relations. according to mulyana (2017), the s-r (stimulusresponse) theory is the most basic communication model influenced by psychological disciplines, specifically behavioristic flow. the method illustrates the existence of a stimulus-response relationship. figure 2 stimulus – response theory source: mulyana (2017) figure 2 explains that the s-r theory shows communication as a straightforward action-reaction process. this theory's assumptions are verbal, nonverbal words, pictures, and specific actions that can stimulate others to respond in certain ways. this process can be reciprocal with many effects, each of which can change the next communication action. the s-r theory is useful for the research as it aims to look for promotional messages on the followers' attitudes of starbucks’ line. the aspect used as a stimulus is a promotional message in line messenger application. the element used as a response in the research is the followers’ attitude of starbucks’ line official account. that is how the stimulus of a promotional message can affect the position of followers. ii. methods the research paradigm is positivism, which is counted on the philosophical stance of natural scientists working with observable reality within society, leading to generalizations (alharahsheh & pius, 2020). the characteristics of the science of positivism are: 1) objectivism, which means theories about the universe must have freedom of values; 2) phenomenalism, namely science, only talks about the observed universe; 3) reductionism, i.e., the universe is reduced to observable facts; 4) naturalism, namely the universe, are objects that move mechanically (bungin, 2017). the research uses a quantitative approach to the type of analytical research. the quantitative approach views human behavior as a predictable and social reality, objective, and measurable. therefore, quantitative research with valid and reliable instruments and appropriate statistical analysis causes the research results not to deviate from the actual conditions. in identifying the problem, to formulate them is the first and most critical stage of the study, as problem formulation guides all research courses. the researcher will lose direction in researching without exact problem wording (ridha, 2017). one of the key characteristics of research using a quantitative approach is statistical analysis (ridha, 2017). explanation level research aims to explain the variables by fiber's influence or compare one variable with another variable. one explanation level has been grouped, focusing on associative research or relationships, where the research aims to determine the relationship between two or more variables (siregar, 2013). the research uses survey method. according to kerlinger in siregar (2013), there are several characteristics of survey research: 1) the research object is conducted on large and small populations, where the data are samples taken from the total population; 2) survey research is carried out to generalize in-depth observations; and 3) the survey method does not require a control group, so does the experimental approach. the research uses explanation since it focuses on finding the causal relationship between the independent variables and the dependent variable. according to siregar (2013), research that aims to explain the position of the variables studied and the influence or compare between one variable with other variables, one of which is grouped explanations while focusing on associative or relationship. whereas the research aims to determine the relationship between two or more variables. the operational definition writing technique is to write a formula that states a decrease in concepts to practical standards, clear criteria, and does not raise hypothetical new questions. the following are operational variables for measuring variables in the research: variable x : promotion in the line messenger application variable y : starbucks line official account followers' attitude although the data are collected from a representative population (sample), generalizations are always emphasized (ridha, 2017). as a result, data collection activities are best entrusted to instruments (including field data collectors). the research uses the non-probability sampling technique, which is random sampling by collecting many of the population whose results are drawn to several sample by slovin formula (bungin, 2017). sampling is taken from among starbucks’ line official account followers. sample of the research uses 158 the winners, vol. 21 no. 2 september 2020, 155-161 the slovin formula (siregar, 2013). the calculation is provided: n = 8500829 (1) 1+(8500829)(0.05)2 n = 8500829 1+(8500829)(0.0025) n = 8500829 1+21252,07 n = 8500829 21253,07 = 399,98 rounded off to 400 thus, based on the calculation, the samples are 400 respondents on starbucks’ official account followers. the data are obtained from a survey method with a questionnaire filled out by respondents, those are adolescents who have joined starbucks’ line official account. in the research, google forms are filled in by respondents. iii. results and discussions correlation analysis is used to determine whether there is a relationship between two variables to determine the level of connection between the independent variable and the dependent variable, where: 1) independent variable (x) is ‘promotion influence on line messenger applications’; and 2) dependent variable (y) is ‘the attitude of starbucks’ line account followers’. the correlation value is pearson's correlation in product moment. questionnaires are processed using ibm spss statistics for macbook to come up with the results, as seen in table 1, showing that the significance value of the independent variable (x) with the dependent variable (y) of 0,000, where the amount is smaller than the significance value of 0,05 which means there is a relationship. thus, it can be concluded that there is a relationship between the independent variable (x) to the dependent variable (y). based on the explanation of the relationship's strength, the value of r on the correlation between the independent variable (x) and the dependent variable (y) is 0,747, where the cost is in the middle of the relationship. thus, there is a moderate and positive relationship, which means that the link's form is unidirectional. if variable x rises, then variable y also rises. after identifying the relationship's strength, the process continues to analyse the regression to predict how much dependent and independent variables will fluctuate. it is known constants from the results of the regression analysis between the influences of starbucks’ line promotion (x) with attitudes of starbucks’ line followers (y). the regression equation is obtained: y = a + bx (2) y = 6,862 + 1,247x information: y = dependent variable (promotion in starbucks’ line) x = free variable (attitude of starbucks’ line followers) a = constant value b = regression coefficient from the results listed, there is a regression between the independent variable and dependent variable, i.e. y = 6,862 + 1,247x. it can be concluded that each increase in score on the influence of starbucks’ line promotion (x) will be followed by the rise in the rating of attitudes of starbucks’ line followers (y) by 1,247 in the positive direction with a constant of 6,862. thus, the dependent variable and independent variable simultaneously decrease since the independent variable has a strong influence on the dependent variable. in other words, promotion on line messenger has a strong effect on the attitude of starbucks’ line followers. it comes up with the result that the contribution of promotion (x) to the attitude of starbucks’ followers (y) variable is 0,558 or 55,8% in percentage, seen from the coefficient of determination in table 1 is r square. simultaneously, the rest is explained by other variables not taken into account in the research. thus, it can be concluded that the effect of promotion via starbucks’ line on the attitude of starbuck's official account followers is 55,8%. a t-test is performed to determine whether the promotion via line messenger affects starbucks’ line followers. for this reason, it is necessary to compare t-counts and t-tables using a two-tailed test and, in the research, using a significance level of 5%. table 1 dependent variable: the attitude of starbucks’ line official account followers model unstandardized coefficients standardized coefficients t sig. b std. error beta 1 (constant) 6,862 1,265 5,423 0,000 effect of promotion on the messenger line application 1,247 0,056 0,747 22,421 0,000 159the influence of promotion via..... (vira dessy arisandi; santi delliana) it is known that those social media variables have a t-count value of 22,421, while the t-table value for 400 respondents is 1,966 with df = 398 is 0,05. t-count is more significant than t-table, so it can be concluded that h0 is rejected, and h1 is accepted. the following decision making for hypothesis testing using t-test: if t-count> t-table = h0 is rejected and h1 is accepted if t-count <t-table = h0 is accepted and h1 is rejected it is concluded that there is the influence of promotions through line messenger on the attitude of starbucks’ line followers. in the research, the author uses the sociopsychological tradition, which focuses on individual social behavior, social-psychological, personal effects, personality and traits, perception, and cognition. the three branches of essential aspects in the sociopsychological tradition are behavior, awareness, and biology. s-r theory is used as the leading theory since it is considered the most appropriate methods to describe the effect of the message content in line messenger on starbucks’ line followers by focusing on the stimulus and response elements. in the research, two critical elements in the s-r theory are: 1) stimulus—fill the message in the messenger line application, incentive in the form of persuasive words broadcasted daily such as new beverage products, buy one get one free, and accept both more economically; and 2) response—the response or expected effect in the research is a change in attitude toward behavior. the s-r theory considers communication as a smooth reaction-action. in social media, s-r theory believes that social media has a strong power to influence social media users with a visible stimulus. using spss, the followers agree that persuasive messages by starbucks’ line are strongly influential. according to ritonga (2005), persuasive messages are considered one way to divert ideas and actions by organizing motives into specific goals. promotion via line messenger seems to be starbucks' purpose to reach customers since it is one of the effective ways to spread persuasive messages more personally. according to severin and tankard, jr (2001), there are five information-processing theory ways. first, the persuasive message must be communicated. starbucks spreads message about their new menus or discounts. second, the message recipient will pay attention to the news as starbucks shares them personally. third, the recipients will understand the messages. fourth, the recipient is influenced and convinced by the information presented. furthermore, from the spss calculation, the result shows that followers are affected by words in the broadcasted messages from starbucks’ line. fifth, there is the desired behavior to attract attention and buy products from starbucks. in the research, the persuasive message model is psychodynamic, a compelling message, and alternative latent psychological processes such as motivation, attitude, and changes in the desired form. the results also show that between line social media (variable x), and persuasive messages (variable y), there is a reasonably healthy positive relationship. this is indicated by pearson's product moment correlation coefficient of 0,747. due to the sufficiently healthy relationship between variables x and y, promotion on line messenger and the followers’ attitude will go simultaneously, whether it is an increase or a decrease. the results of simple linear regression analysis shows that each increase in score on the effect of promotion on line messenger will be followed by the attitude of starbucks’ followers by 1,247 in the direction of upbeat with a constant 6,862. these results also explain that the s-r theory can show promotion in line messenger. on the questionnaire results, there are details of the respondent's answers to variable x statements, that is, statements considered to be the effect of the message content in the line messenger to influence starbucks’ followers. the results can be categorized as the strongest or weakest results. the lowest result with a 1.220 score is that an order via starbucks’ line is enough to convince customers to buy the product. on the other hand, some results are considered the strongest among the other products. there are two most main statements that customers respond to, namely: 1) customers receive personalized promotional messages directly from starbucks’ line; 2) starbucks always posts information about new products and vouchers/coupons every day in their timeline. the following results get the most significant percentage, which means 100% of respondents strongly agree. firstly, respondents have not only received information starbucks’ line official account, but also from other sources. second, 236 out of 400 respondents do not feel disturbed by continuously receiving line messages from starbucks. thirdly, 94 out of 400 respondents agree that the perfect time for starbucks to send messages is around 7 to 8 in the morning to share its compelling message. many strongly agree with the ten promotional indicator statements in line messenger, including open questionnaires that are considered a promotional influence on line messenger, signifying that starbucks’ followers have received persuasive messages. the approach intended in the research is measured using three indicators, which include cognitive effects, affective effects, and behavioral effects. questionnaire results for the attitude of starbucks’ followers show that out of a total of 11 statements, all of them are dominated by answers that strongly agree. based on the y variable questionnaire results, the stimulus has successfully influenced respondents to a behavioral level. the result is according to most respondents, who strongly agree with cognitive, affective, and behavioral indicators. cognitively, respondents tend to agree that the 160 the winners, vol. 21 no. 2 september 2020, 155-161 contents of messages from starbucks’ line official account affect knowledge about new products and discount coupons, which tend to influence their feelings. most respondents strongly agree with the indicators of telling, persuading, and reminding as respondents are happy and satisfied with starbucks’ promotion as well as their themed picture messages (important national and international days). respondents often await words given on starbucks’ line official reports. on behavioral indicators, starbucks’ line official account can affect respondents' attitude changes, such as when respondents only buy menus on discount with the acquisition of strongly agree is 122 respondents and agree is 106 respondents, out of 400 respondents. moreover, 187 respondents strongly agree and 125 of them agrees that they purchase starbucks’ latest variant. in the last statement, 206 respondents strongly agree and 91 of them agree that they would prefer buy products after receiving discount messages from starbucks compared to discount from other cafes’ line accounts. from the results of the y variable, promotion on line messenger can affect respondents’ attitude changes. this is compatible with the findings of questionnaire variable x that respondents agree with the statement. in other words, there is an effect of promotions on line messenger towards the attitudes of starbucks’ line official account followers. the research provides results with percentages. out of 400 respondents, 331 or 82,75% of them gets information from other sources beside starbucks’ line. as many as 84,60% of respondents purchase the latest taste variant, as well as agree that the perfect time to share promotion messages is around 7 to 8 am. meanwhile 94,35% of them is interested in the news and visuals added compulsively to starbucks products. lastly, 100% of respondents are happy when starbucks shares persuasive messages with specific themes on both national and international holidays. iv. conclusions the data processing results of promotion messages via line messenger (variable x) and the attitude of starbucks’ line official account followers (variable y) can be concluded based on the information collection, data processing, and discussion that the respondents strongly support all statements. the hypothesis test results show a significant effect of 0,000, which is substantial if the products are smaller than 0,05. the correlation test results also show a positive correlation of 0,747 between promotions on line messenger to the attitudes of starbucks’ line official account followers. based on the regression analysis results of y = 6,862 + 1,247x, any increase in score on line messenger will go simultaneously with the score on the attitude of starbucks’ line followers by 1,247 with a constant of 6,862. moreover, it is known that the magnitude of its impact through the coefficient of determination equal to 55,8%. thus there is a promotional influence on line messenger towards attitudes of starbucks’ line followers with a healthy relationship level of 55,8%, while 44,2% is influenced by other variables not explained in the research. compared to the timeline posts of starbucks’ line official account, it is expected that the research can be an input for starbucks in sharing its persuasive messages at the suggested times—7 to 8 am—to share notes through chat rooms. it is possible that chat rooms are more comfortable to read than timeline posts. the aida (attention, interest, desire, and action) theory can be used for future research to determine the stages that occur when customers are aware to decide to purchase a product. references alharahsheh, h. h., & pius, a. 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(2020). the effect of using instagram influencers in building conseva’s brand awareness. the winners, 21(1), 67-73. https://doi.org/10.21512/ tw.v21i1.6497. in pr es s *corresponding author p-issn: 1412-1212 e-issn: 2541-2388 181 the winners, 23(2), september 2022, 181-188 doi: 10.21512/tw.v23i2.9199 strategic marketing approach of indonesia aluminium mineral industry: upstream and downstream analysis sri bramantoro abdinagoro1*; mohammad hamsal2 1,2management department, binus business school doctor of research in management, bina nusantara university jl. kebun jeruk raya no. 27, kebon jeruk, jakarta barat 11530, indonesia 1sri.abdinagoro@binus.ac.id; 2mhamsal@binus.edu received: 11th october 2022/ revised: 01st december 2022/ accepted: 01st decembe 2022 how to cite: abdinagoro, s. b. & hamsal, m. (2022). strategic marketing approach of indonesia aluminium mineral industry: upstream and downstream analysis. the winners, 23(2), 181-188. https://doi.org/10.21512/tw.v23i2.9199 abstract the research aimed to determine the causes of imports by analyzing the upstream and downstream sides of the existing aluminium industrial chain. the research applied a descriptive-exploratory approach by collecting secondary data from credible sources. interviews and focus group discussions with appropriate experts were also conducted to obtain supporting data. research shows that aluminium imports will continue both in the short and long term. it is due to the upstream supply, especially in aluminium smelters, which cannot keep up with the increasing demand. even though the market opportunity, especially in the automotive, construction, and power cable segments, is enormous and continues to grow, if there is not enough supply, the deficit of aluminium metal will continue to occur. it takes encouragement from the government's political will to provide ease of electricity sources, increase production capacity and technology, change the mindset from relying on traders solely towards the mindset of the industrialist. keywords: strategic marketing, aluminium industry, supply-demand, energy, upstream-downstream i. introduction the alumina industry is part of the aluminium industry. in the first stages of the industry, aluminium is bauxite mining, which supports alumina for raw materials. furthermore, alumina refining is an intermediate industry to produce alumina, generally used as a raw material for aluminium smelters. the final stage is aluminium smelting. the aluminium industry is the largest non-ferrous metal industry in the world economy. aluminium is the second most widely used metal globally after steel and the third most abundant element on earth (after oxygen and silicon). according to statistical data from the international aluminium institute (iai), the world’s total primary aluminium production in 2019 reached 63,7 million tons. meanwhile, the economic value of the world’s primary aluminium industry in 2019 was around us$ 114,9 billion (using the 2019 average aluminium price of around us$ 1.804 per tonne). alumina is also called aluminium oxide, a chemical compound consisting of aluminium and oxygen molecules (al2o3). alumina is generally in the form of a white powder similar to table salt or granulated sugar (usgs, 2021). it is an intermediate product derived from bauxite through a combination of the bayer process and calcination. to produce one tonne of alumina, it is consuming approximately 2,5 to 4 tons of bauxite. the aluminium industry consumes almost 90% in bauxite mining, whereas the remainder is used for abrasive products, cement, ceramics, flux metallurgy, refractories (products heat resistant), and other products. the potential of indonesia’s bauxite is not too enormous compared to the world, but its natural resources are still sufficient to meet national and international needs regional demand. it is estimated that 4% of the world’s bauxite reserves or rank sixth countries with the largest bauxite deposits after guinea, australia, vietnam, brazil, and jamaica. thus, indonesia has significant potential bauxite and has indeed exploited its existence for many years. bauxite found in indonesia is of the gibbsite type, containing alumina, quartz, and activated silica. sources indonesia's national bauxite are in the riau islands, bangka belitung, west kalimantan, south sulawesi, central maluku, and papua (ministry of trade of the republic of indonesia, 2017). based on the geological agency of the ministry of energy and mineral resources (2019), it is estimated that the bauxite ore owned by indonesia as of december 2020 reached 5,5 billion tons in pr es s 182 the winners, vol. 23 no. 2 september 2022, 181-188 (resources), and reserves ore amounted to 2,96 billion tons (estimated reserves). bauxite is processed into alumina and furtherly processed into aluminium in the downstream mineral industry, such as the automotive industry, building construction industry, household appliances industry, and others. processing bauxite to aluminium ingots (semi-finished materials) can enter the upstream mineral industry. in indonesia, the downstream aluminium minerals industry has far preceded the development of the upstream mineral industry. it started with the first aluminium metal ingots production by pt indonesia asahan aluminium (inalum) in 1976. in general, there are two types of alumina products depending on their subsequent use. first, smelter grade alumina (sga) refers to the alumina used as raw material for aluminium smelters to produce aluminium metal. sga is also commonly known as metallurgical grade alumina. about 92-96% of the world’s total alumina production is sga. second, chemical grade alumina (cga) refers to alumina used in various applications except for aluminium metal. cga is also referred to as non-metallurgical grade alumina (nmga). cga’s share of world alumina production is around 4-8% (putra, 2020). currently, the condition of the indonesian aluminium industry is on a high level of demand and is met mainly by imports. however, when viewed from bauxite ore reserves as aluminium, the raw material is substantial. therefore, the research aims to map the industry and provide a strategic management plan of bauxite minerals with a strategic marketing approach. cravens and piercy (2013) state that strategic marketing consists of analysis, strategy development, and activities to build the vision about the organization’s market, selecting market strategy goals, and positioning strategies to match the desired value by customers in every market. strategic marketing is a market-driven strategy development process. varadarajan (2010) states that the realm of strategic marketing is the study of organizational, inter-organizational, and environmental phenomena. they are related to (1) organizational behavior in the marketplace in their interactions with consumers, customers, competitors, and other external parties, constituents, in the context of creation, communication, and delivery of products that offer value to customers in exchange for organization, and (2) management responsibilities related to scope limits, participation marketing function in the organization. in contrast, marketing strategy focuses on constructs related to brand and branding strategies, distribution and channel strategies, and pricing strategies. strategic marketing is also closely related to resource-advantage theory (hunt, 2010), where excellence in company resources is the basis of competitive excellence. in the research, mineral resources are at fault, one of the advantages of indonesia's resources. in this context, the country that is owning these resources is analogous to a company. therefore, the indonesian state can behave and have a perspective as a company. the existence of bauxite mineral resources which not all countries have, makes the resource-based theory (rbt) approach relevant. wernerfelt (1984) explains the enterprise resource-based view (rbv) of how firms achieve competitive advantage and economic rent through ownership and management of assets, capabilities, knowledge, and similar internal resources. resource-based theory complements the more outward-looking theory of competitive advantage, especially porter's five forces (2008), to analyze industry structure. kozlenkova, samaha, and palmatier (2014) mention that the use of resource-based theory (rbt) in research is rapidly increasing, demonstrating its importance as a framework for explaining and predicting the competitive advantage and performance outcomes of an organization's company. in the perspective of market-based resources, using the vrio framework (value-rarity-inimitability-organization) is a possible thing to create sca (sustainable competitive advantage) (srivastava, shervani, & fahey, 1998; srivastava, fahey, & christensen, 2001). for example, the framework approach can explain how bauxite and aluminium commodities become resources in organizations such as the indonesian state, which has enormous size and is rare. butts (1993), in the definition issued by the strategic studies institute us army war college, states that strategic minerals are metal minerals that are important for the economic sector and defense of industrialized countries. resource dependence creates vulnerability and potential political instability. if a country produces enough minerals industry and petroleum to meet its own economic needs, it will be economically independent and manage its destiny. otherwise, then a country becomes independent in mineral production. mineral’s policy strategy has traditionally been full of controversy and is essential for a country’s economic strength and military. simandl, akam, and paradis (2015) remind about consistency in the use of the term “critical” and “strategic” that can lead to misunderstandings, miscommunication, and potentially misrepresentation. it is “critical” if the mineral or material poses a risk to the economy, as well as risks to supply. the word “strategic” refers to an economically essential mineral or material. randive and jawadand (2019) also think that strategic minerals are vital for the economic regeneration and national security of a country. figure 1 describes the position of minerals or materials in critical and strategic positions in europe (the commission europe). for example, high rare earth element becomes critical and strategic considering the high supply risk and significance economically. while nickel becomes a mineral or strategic material because it is economically essential, although not constrained by supply risk. in pr es s 183strategic marketing approach .... (sri bramantoro abdinagoro; mohammad hamsal) figure 1 minerals or strategic-critical materials (simandl et al., 2015) ii. methods the research uses a descriptive-exploratory approach, namely by taking secondary data from trusted sources and conducting interviews and focus group discussions with appropriate experts. secondary data and the results of interviews and focus group discussion (fgd) are processed to obtain research conclusions. iii. results and discussions the structure of indonesia’s aluminium industry has been integrated from upstream to downstream. currently, the industry structure is relatively complete, starting from bauxite ore as raw material, the basis for making aluminium. the process of processing bauxite ore into alumina in cga and sga forms, processing alumina into aluminium as an intermediate product already exists, and the downstream aluminium industry are much more developed than the upstream industry. figure 2 shows the current aluminium industrial structure in indonesia. figure 2 aluminium industry structure the mining industry to alumina processing can be grouped into the upstream industry aluminium. based on the ministry of energy and mineral resources data, the major bauxite mining companies are pt aneka tambang (antam) tbk (state-owned entreprise) and pt well harvest winning (whw). the enactment of the minister of energy and mineral resources no. 1 of 2014 states that companies must increase the added value of mining minerals. the development era of mining ore processing (smelter) begins. as a result of this regulation, the company started to build a smelter and process mineral ore mines to fulfil those regulations. for bauxite ore processing, the progress of the construction can be seen in pt indonesia chemical alumina (ica), which produces cga with a capacity of 300.000 tons per year but had to stop in 2018. the production of cga is only around 100.000 tons per year. as for cga, a company that has jumped into producing this product is antam through pt borneo alumina indonesia (a subsidiary of antam) with a production capacity of 500.000 tons per year with a target installed capacity of 1 million tons of alumina per year and pt whw with a capacity of 1 million tons per year, with a target in 2021 to reach 3 million tons per year. the intermediate product is in the form of processing alumina into aluminium, currently only done by pt indonesia asahan aluminium (inalum), also soe, with a capacity of 280.000 tons per year. in 2023, inalum will plan an additional capacity to 500.000 tons per year. based on technical calculations, a comparison of the need for bauxite alumina: aluminium is 4 : 2 : 1, meaning that to produce 1kg of aluminium, it takes 2kgs of alumina and 4kgs of bauxite (world bank, 1981). based on the assumption, the position of the structure of the indonesian aluminium industry based on the resources it has, can be seen in table 1. table 1 potential gap assumption of aluminium supply chain structure bauxite (ore) alumina aluminium production (2019) 16.592.187 production ratio 4 2 1 sga production assumption (50%) 8.296.094 4.148.047 2.074.023 actual product 1.000.000 250.000 potential gap (kg) 3.148.047 1.824.023 australia, the largest bauxite producing country, in 2019 also produced 101 million tonnes of bauxite and exported 43 million tons (43%), and the rest was converted into alumina (57%) (australian aluminium council, 2020). with the same comparison, the potential of indonesia converting bauxite into alumina is assumed only 50%, then the potential of alumina production will reach 4,1 million tons. however, the actual one that is currently producing is alumina only in pr es s 184 the winners, vol. 23 no. 2 september 2022, 181-188 pt whw amounted to 1 million tons. thus, there is a potential gap for alumina of 3,1 million tons. for aluminium production, indonesia, which inalum only produces is 250 thousand tons, then the calculation of the potential gap is around 1,8 million tons (see table 1). the demand for aluminium metal in indonesia is based on in-depth interviews with several industry players indicating that aluminium production from inalum is not sufficient for their downstream industrial production needs. downstream aluminium industries such as aluminium processing into casting products, a product profile (extrusion), and sheet products still rely on import aluminium ingots. as seen in table 2, the needs of the downstream aluminium industry by type industry in 2019/2020 are estimated to be close to 1 million tonnes (“industri otomotif bakal serap”, 2020). if contracted by about 20% at the pandemic time, the demand would be around 800.000 tons. this figure is also still far from the national aluminium production, resulting in a gap of almost 550-750 thousand tons. this gap is filled by imported aluminium, such as some international brands that are entering indonesia namely ega (emirate global aluminium), hydro, rio tinto, alcoa, uc russal (russia), alba (bahrain), hindalco (india), pressmetal (malaysia), qatalum (qatar). in other words, dependence on imported aluminium materials is still high, although bauxite ore reserves are enormous. table 2 aluminium upstream industry's demand 2019/2020 no. industries al-demand (ton-approx) 1 extrusion 300 2 plate, sheet, foil 200 3 automotive 350 4 wire & cables 150 total 1.000 source: “industri otomotif bakal serap” (2020) the downstream industry demand for aluminium will continue to increase in line with the demand for aluminium metal. aluminium is an alternative metal to replace iron or steel due to its lightweight but almost the same strength. this lightness is needed by the automotive industry running on its electric vehicles and public transport vehicles (trains, buses, airplanes) and the building construction industry. in the industrial national metals roadmap, the ministry of industry predicts that demand will exceed 1 million tons per year since 2018 , as seen in figure 3. (harjanto, 2022). the roadmap also states that dependence on imports will continue if indonesia no longer builds aluminium smelters like inalum. although it needs improvement again due to the covid-19 pandemic, which made the demand decrease (see table 2), demand will always increase. the top ten countries as indonesian aluminium export markets are the united states (usd 48,46 million), vietnam (usd 6,36 million), philippines (usd 6,08 million), malaysia (usd 5,87 million) million), republic of korea (usd 5,09 million), japan (usd 4,01 million), australia (usd 3,87 million), singapore (usd 3.14 million), thailand (usd 3,03 million), and belgium (usd 2,50 million). related aluminium products and their derivatives from indonesia which received the highest demand in the international market are: 1) non-alloy aluminium plates, sheets and strips rectangle (including square), more than 0,2 mm thick (hs 760611); 2) stem aluminium alloys, rods and profiles, other of hollow profiles (hs 760429); 3) aluminium alloy, unforged (hs 760120); 4) aluminium barrels, drums, cans, boxes and the like plain, unfitted container, with a capacity of no more than 300 litres, 79.30 gal. (hs 761290); 5) countertop, kitchen or other household goods, parts of aluminium (excluding pot scrubs and scouring or polishing pads, gloves and similar cans (hs 761519); 6) aluminium alloy tubes and pipes (hs 760820); 7) aluminium door, windows and frames and thresholds for doors (hs 761010); 8) aluminium wire of non-alloyed aluminium, with maximum crosssection dimensions: more from 7 mm (hs 760511); figure 3 projected national aluminium demand 2014-2025 source: ministry of industry (2013) in pr es s 185strategic marketing approach .... (sri bramantoro abdinagoro; mohammad hamsal) 9) aluminium foil, not more than 0.2 mm thickness, unsupported, rolled but not further worked (hs 760711); and 10) aluminium waste and scrap (hs 760200). especially for aluminium foil since its use in society is quite extensive as a substitute for plastic materials for food packaging. moreover, the price is relatively lower compared to tinfoil. the aluminium foil also has comparative characteristics other things such as light, strong or not easily torn, heat-resistant, airtight, and not contains a magnet to be separated from the can during the recycling process (ministry of trade the republic of indonesia, 2017). the bauxite-alumina-aluminium chain looks like it has been connected, but inside a more detailed analysis, it turns out that there are still many gaps that occur. however, considering the minister of energy and mineral resources no. 17 of 2020, which gives a deadline ban on exporting metal mineral ores until june 2023, it is inevitable that the ore bauxite will be processed entirely into alumina or aluminium. figure 4 shows the current and future positions of alumina and aluminium commodities. although alumina is still imported for aluminium production, considering a large amount of alumina production, in the future, this alumina position will reverse from importer to exporter. it is possible given the growth of new alumina and aluminium plant in the world. therefore, such industrial phenomena are interesting to study further from a strategic marketing perspective. in strategic marketing, positioning a product becomes very important to be a successful business in the future. in the global market, aluminium demand is predicted to grow until 2035, especially in the asian and south american markets. based on forecasts by cru, the market world at least 54 smelters with a capacity of 750,000 tons per year (ministry of indonesian trade 2017). furthermore, humphreys (2018) predicts that china will double-digit demand growth because of industrialization. figure 4 current and future position of the aluminium upstream industry with the abundance of bauxite ore, it is inevitable that alumina production is also expected to increase and exceed its absorption capacity in aluminium processing plants. the advantages of this production which is the basis that indonesian alumina products will begin to be exported. china market and asia (malaysia) is the main target considering the need for this country is very large. in 2019, china produced 39.795.000 tons (apralex, 2020), which requires alumina amounting to 79 million tons. in sabah, malaysia, one smelter is estimated to produce 1 million tons of aluminium, which requires 2 million tons of alumina. therefore, indonesia’s alumina business has a definite position and target market. indonesia’s aluminium production relies solely on inalum. based on public exposure by sinaga (2014), the addition of inalum’s production capacity to 500.000 tons per year, causing the domestic supply of aluminium to increase. even though this addition has not yet had a significant impact on the demand for aluminium domestically, the only changes that occur are reducing aluminium imports in the industry downstream. the analysis of indonesia’s aluminium type of aluminium used produced, each downstream industry requires a different aluminium product type, as seen in table 3, downstream industry also found several constraints in the development of aluminium products. table 3 aluminium products and types no. industries al series type form 1 extrusion 6xxx series billet 2 plate, sheet, foil 1xxx, 2xxx series slab 3 automotive a356 ingot 4 wire & cables 1xxx series billet/bar based on the principle of product excellence in the strategic marketing concept, aluminium producers such as inalum must also continue to make improvements. although the product market share aluminium for the automotive industry segment is quite large (table 2), the largest share is still controlled by the world’s sizeable automotive industry (principals or brand owner), which has a complex supply network to replace. therefore, if it is an aluminium ingot manufacturer for automotive, it may be with a target market of automotive companies that make components for the after-market, such as car or motorcycle wheels outside of principles. for aluminium needs in the downstream industry, externally, the industry is driven by the development of the world of transportation, which requires casting products and structural products. table 4 is the stp (segmentation-targetingpositioning) for the downstream aluminium industry, an essential stage in strategic marketing. the four downstream industry groups from this analysis, the analysis results have a different stp by looking at the current conditions that exist. for example, the extrusion industry currently produces a lot for the construction and home appliance markets ladder. in the future, the segmentation must change into a value-added product higher. consequently, the in pr es s 186 the winners, vol. 23 no. 2 september 2022, 181-188 type of aluminium also changes. with a product like that, targeting has also shifted to supporting the transportation sector, especially public transportation. the selected positioning is, of course, an extrusion product that has high added value. the plate, sheet, and foil industries are almost the same today as the wire and cable industry, and considering that the current stp is correct, in the future by looking at the existing market share. therefore, the stp in the future will remain with the current condition (status quo). whereas for industrial foundry (casting) for the automotive, despite the large market (see table 2), it is pseudo-markets, most of which are an impenetrable network of principals. therefore, stp needs to change. the change became its segmentation on the type of foundry product other. targeting is directed to become an after-market product casting company to offset imported products so that the product positioning for the casting industry is low price aluminium ingot. through the approach and modification of simandl (2015), the critical-strategic position of the industry indonesia aluminium is shown in figure 5. bauxite is a very strategic mineral because it is economically crucial. the state’s income from the export of bauxite minerals is an essential ample, and abundant supply. on the other hand, alumina is a critical and strategic mineral because the supply is sufficient but not yet fully used for the national aluminium industry. meanwhile, aluminium is a critical and strategic material because its supply is risky and sourced from imports and is economically significant because it drives industry manufacturing in indonesia. with a strategic marketing approach, the indonesian state, by analogy, behaves like a company organization with its bauxite mineral resources. therefore, it can be concluded that the existing bauxite wealth has an important position. for the aluminium industry, with the policy that from 2023 indonesia will no longer export bauxite ore in raw form, there will be a higher amount of alumina production than domestic demand. thus, alumina must be exported mainly with the target china and smelters in the asean region (malaysia). however, in the scenario, the government will set up a new aluminium plant equivalent to inalum. figure 5 critical-strategic position of indonesian bauxite, alumina, and aluminium (modification from simandl) table 4 stp for downstream aluminium industry no. industries al series form external factors (existing condition) segmentation targeting positioning main strategic direction 1 extrusion 6xxx billet mostly imported and secondary aluminium is also big market too high-quality product with new al series, i.e., 5xxx, 7xxx transportation sector value-added products, the transportation sector new products on the type of al series based 2 plate, sheet, foil 1xxx, 2xxx slab almost 100% imported, especially for pharmaceutical packaging products status quo status quo pharmaceutical and food packaging import substitution 3 automotive a356 ingot the highest demand is still for principals casting plan products, robust supply chain line according to principals nonautomotive principals casting products after-market automotive parts and other casting companies low price ingot newmarket 4 wire & cables 1xxx billet/ bar market dependent on government projects (national electric company) status quo status quo status quo import substitution in pr es s 187strategic marketing approach .... (sri bramantoro abdinagoro; mohammad hamsal) meanwhile, as an aluminium producer for the downstream industry, the strategically-held aluminium treatment will differ depending on the downstream industry. for the plates industry, sheet, foil, wire, and cable, import substitution strategy by maintaining current condition with the respective stp is the most appropriate strategic direction. at the same time, the extrusion industry changes its strategy from supporting the home appliance industry to products with higher added value, such as to support the public transportation industry and with a niche product that is thinking about the type of aluminium different. it also applies in the automotive industry by not relying on supplies to the principal’s automotive industry into non-principals automotive components and looking for new markets for aluminium casting. iv. conclusions aluminium is one of the environmentally friendly commodities that have bright prospects in the future. in addition, it is related to the problem of scarcity of wood due to heating problems. globally, aluminium can also substitute wood for use in furniture production, windows, doors, and other building materials. therefore, many experts argue that aluminium is an essential metal that humans need. in the implementation, aluminium can also make sophisticated products, like food packaging, medicine packaging, electronic equipment, transportation equipment (prosser, johnson, & saptaji, 2017). therefore, indonesia aluminium industry has to be evaluated and reorganized. the importance of bauxite-alumina-aluminium products economically and positionally critically because of the supply risk being required in the future. with its wealth of resources, aluminium is an industry in which indonesia is natural has been active for a long time, starting from mining bauxite ore, refining the ore into alumina, and then smelting alumina to produce primary metal aluminium. however, the mining industry needs a lot to learn and develop processing techniques and examine aspects of strategic marketing to become a leading industry both domestically and play a role to be competitive in the market export. it becomes crucial, especially if there is overproduction in the domestic market in indonesia in the next few years. therefore, various stakeholders, ranging from regulators and operators, need to share their perceptions to develop this industry to be efficient and productive to achieve the competitiveness of this commodity in the global market. references australian aluminium council ltd. 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(2010). strategic marketing and marketing strategy: domain, definition, fundamental issues, and foundational premises. journal of academic marketing science, 38, 119-140. http://dx.doi. org/10.1007/s13162-015-0073-9 wernerfelt, b. (1984). a resource-based view of the firm. strategic management journal, 5(2), 171-180. https://doi.org/10.1002/smj.4250050207 world bank (1981). bauxite and aluminium handbook. commodities and export projections division, economic analysis and projections. in pr es s *corresponding author p-issn: 1412-1212 e-issn: 2541-2388 173 the winners, 23(2), september 2022, 173-180 doi: 10.21512/tw.v23i2.8164 decentralization and managerial performance: mediated budget participation (study on the village government of west halmahera regency) muhammad hasnin1*; musdar muhammad2; irfandi buamonabot3 1,2study program of development economic, faculty of economics and business, universitas khairun 3study program of management, faculty of economics and business, universitas khairun jl. pertamina kampus ii gambesi, ternate, provinsi maluku utara 97719, indonesia 1hasnin@unkhair.ac.id; 2musdar@unkhair.ac.id; 3irfandi@unkhair.ac.id received: 04th february 2022/ revised: 19th july 2022/ accepted: 19th july 2022 how to cite: hasnin, m., muhammad, m., & buamonabot, i. (2022). decentralization and managerial performance: mediated budget participation (study on the village government of west halmahera regency). the winners, 23(2), 173-180. https://doi.org/10.21512/tw.v23i2.8164 abstract the research aimed to examine the budgetary participation variable as a mediator on the relationship between decentralization and managerial performance. the sample was determined using a purposive sampling method with the consideration of being involved in budgeting. they were village heads in 159 villages in west halmahera regency. the data in this study were collected by a survey with a questionnaire. the analytical tools used in this research are simple regression and hierarchical regression as a statistical analysis and ibm spss statistics version 24. the results showed that budgetary participation fully mediates the relationship between decentralization and managerial performance. the conclusion provides three main contributions as well as their implications, namely providing new findings related to budget participation as a mediating variable, terms of age at work, and the level of education. keywords: decentralization, budget participation, managerial performance, village government, west halmahera regency i. introduction budgetary participation has received attention in finance and accounting in recent decades. the results reveal that budgetary participation can be influenced by decentralization (riyadi, 2007) and affect managerial performance (indriani et al., 2020), and managerial performance can also be influenced by decentralization (sun et al., 2021). the involvement of managers or subordinates in decentralized organizations in budgeting will have an impact on their high success, satisfaction and performance (amir et al. 2020; mulyanah & puspanita, 2021). it shows that budgetary participation can be a mediating variable for the effect of decentralization on managerial performance. although previous research results are partially still very limited (decentralization and budgetary participation), inconsistent (budgetary participation and managerial performance), and consistently positive (decentralization and managerial performance), the literature review results show that research on decentralization and budgetary participation has only been studied by riyadi (2007). furthermore, the results of research between budgetary participation and managerial performance have significant positive results (purwanti et al., 2017; soleiman & thalib, 2020; pradana, 2021; hussein et al., 2021), negative significant (bryan & locke, 1967) and insignificant (candrakusuma & jatmiko, 2017; kahar et al., 2019; firana, 2020). consistently there is a significant positive relationship between decentralization and managerial performance (purwanti et al., 2017; amran, 2020). moreover, research on decentralization, managerial performance, and budget participation in the context of village government is considered very limited. decentralization at the village level has been described in law no. 23 concerning regional government (2014) and law no. 6 on villages (2014). there are two types of scope of village authority, namely: 1) the authority that can regulate and administer based on origin rights and 2) the authority that only manages but does not regulate local ones within the village scope (aritonang, 2018). with this decentralization, there will be additional budgets for villages, so participation is needed which will certainly improve performance both individually and in groups (fritantus, 2019; runtunuwu & tussabaha, in pr es s 174 the winners, vol. 23 no. 2 september 2022, 173-180 2020; kepramareni & pradnyawati, 2021). the synthesis of previous findings show that a number of researchers are considered negligent in assessing budgetary participation as a mediating effect of decentralization on managerial performance in the context of village government, so this becomes the research novelty. decentralization refers to the transfer of state or national responsibilities or functions from government domiciled at the center to the level of government domiciled in the regions, or from head office to branch offices, or to private affairs (guler, 2017; alsharafi et al., 2019). decentralization is the practice of delegating authority to a lower level (mowen et al., 2018). decentralization is believed to reduce the burden on top management, so that managers will diagnose the organizational situation and choose the most appropriate level of decision making for the organization (kesumawati et al., 2019). according to mahoney (1963) managerial performance is the accumulated performance of organizational members in managerial activities. this can be seen from the final achievement of an activity or program, policies in realizing the strategic planning of an organization (ainanur & tirtayasa, 2018) and is responsible for product quality, personnel development, budget achievement, increased revenue, and public affairs (bedford & speklé, 2018). budget participation is the frequency and scope of discussions from managers to subordinates regarding budgeting (nguyen, evangelista & kieu, 2019). participation in the budgeting process is an effective approach to increase manager motivation (giusti et al., 2018). participation in budgeting is related to how far the involvement of the leadership or head of the organization in determining or preparing the budget for the part or organizational unit (aira, 2021). high participation tends to encourage managers to be more active in understanding the budget (hartmann et al., 2020). decentralization can be regarded as a form of widespread distribution or delegation of decisionmaking power to levels (sistiyan et al., 2019). organizational structure has a role in influencing performance at the organizational level and sub-unit level which is decentralized, since managers have better understanding on the condition of the unit they lead (hartmann et al., 2020). decentralized power sharing allows managers to have the opportunity to actively participate in the budgeting process which in turn will provide motivational support to subordinates to improve their performance (firmansyah & mahardhika, 2018). the results also show that decentralization has a significant positive effect on managerial performance (purwanti et al., 2017; soleiman & thalib, 2020; amran, 2020). for this reason, the proposed hypothesis is formulated: h1: decentralization has a positive effect on managerial performance dakhli (2021) shows that managers or subordinates in decentralized organizations feel themselves to be more influential people, participate more in budget planning, and feel satisfied with budgetrelated activities. this is also supported by the results of research by riyadi (2007) that the relationship between decentralization and budget participation is positive, so the hypothesis is: h2: decentralization is positively related to budget participation budget participation is defined as the involvement of managers in preparing the budget at the responsibility center of the manager concerned (kahar et al., 2019). managers who are involved in the budgeting process will form positive attitudes and traits as they will feel satisfied and appreciated (candrakusuma & jatmiko, 2017). this certainly has an impact on increasing performance and being more responsible for their work. the results show that there was a positive and significant relationship between budgetary participation and managerial performance (purwanti et al., 2017; soleiman & thalib, 2020; pradana, 2021; hussein et al., 2021). the hypothesis is proposed as: h3: budget participation has a positive effect on managerial performance the granting of authority from the highest manager to the lowest manager to be involved in budgeting will have an impact on high performance both directly and indirectly (dakhli, 2021; kahar et al., 2019; nguyen, evangelista & kieu, 2019; murhaban & adnan, 2020). according to baron & kenny (1986), a variable can be a mediating variable if there is a significant influence either directly or indirectly. hypothesis, 1, 2, and 3 indicate that budgetary participation can be a mediating variable on the relationship between decentralization and managerial performance, so hypothesis 4 is proposed: h4: budgetary participation mediates the relationship between decentralization and managerial performance ii. methods the research aims to re-test the hypothesis of previous studies by adjusting it in the context of village government, so the research uses a confirmatory approach. data collection is carried out using a cross sectional method, namely collecting or retrieving data at a certain time (bougie & sekaran, 2019). the data collection technique used is survey, namely asking research respondents using a written questionnaire distributed directly to respondents (neuman, 2020). the research is conducted in west halmahera regency from march to may 2021. the population are 175 village heads in west halmahera regency. the sample is determined by purposive sampling method which has involvement in village budgeting totaling 159 respondents. according to roscoe et al. (1975) the ideal number of samples in a study range from in pr es s 175decentralization and managerial performance .... (muhammad hasnin, et al.) 300-500 respondents, so the total number of samples is considered appropriate. the research uses a validity test using factor analysis with a loading factor value of 0,5 and a reliability test using cronbach’s alpha 0,7 (hair et al., 2018). furthermore, testing hypothesis 1, 2, and 3 uses simple regression analysis, while for hypothesis 4 using hierarchical regression analysis (baron & kenny, 1986; hair et al., 2018) by using ibm spss statistics version 24. the simple linear regression formula is as follows: y = a + bx information: x = decentralization and budget participation y = managerial performance and budget participation a = constant b = regression coefficient furthermore, the mediation hierarchy regression consists of three equations as: equation i y = α1+cx equation ii m = α2+ ax equation iii y = α3+ c’x + bm information: y = managerial performance m = budget participation x = decentralization α = regression constant coefficient value a = decentralization regression coefficient value on budget participation b = budget participation regression coefficient value on managerial performance by controlling for decentralization c = decentralization regression coefficient value on budget participation c’ = decentralization regression coefficient value on budget participation by controlling for budget participation variable m is called a mediator if it meets the criteria, namely equation i, x significantly affects y (c ≠ 0), equation ii, x significantly affects m (a ≠ 0) and equation iii, m significantly affects y (b ≠ 0). the questionnaire is adopted from previous research. for decentralization variables using a questionnaire adopted by gordon & narayanan (1984), then for managerial performance variables using a questionnaire developed by mahoney (1963) and for budgetary participation variables using a questionnaire adopted by milani (1975). the three variables use a likert scale of 5, from strongly disagree to strongly agree. specifically for the decentralization questionnaire, the researcher adjusted the questionnaire to the context of the village government. iii. results and discussions the results of the questionnaire distribution shows that from a total of 175 questionnaires distributed, only 163 (93,14%) questionnaires are returned and 159 (90,86%) questionnaires are declared eligible for the data testing stage. based on the results of the distribution of this questionnaire, the response rate in the research is 93,14%. the overall profile of the respondents in this study was male (159 respondents or 100%), with most of them ranging in age from 31-40 years (84 respondents or 53%) with the majority of the education level being high school graduates (152 respondents or 96%). the profile of the respondents in this study is shown in table 1. it shows that the sample in the study reflects the ideal age of the workforce (bps, 2021; arifin, et al., 2020). in addition, the respondents are also dominated by high school graduates who generally had a minimum education standard to be able to work as village officials (wijayanti & hanafi, 2018). table 2 shows the results of testing the validity and reliability for the variables of decentralization, managerial performance, and budgetary participation. the validity test shows that the kaiser-meyer-olkin (kmo) measure of sampling adequacy value and the loading factor 0,5 are good for the variables of table 1 respondents profile profile description frequency percentage gender male 159 100 age 21-30 yo. 21 13 31-40 yo. 84 53 41-50 yo. 43 27 ≥ 51 yo. 11 7 education level high school (slta) 152 96 bachelor (s1) 7 4 source: processed data in pr es s 176 the winners, vol. 23 no. 2 september 2022, 173-180 decentralization, managerial performance, and budget participation. it shows that the three variables are considered to be valid. furthermore, for the results of reliability testing in the research using the cronbach’s alpha value 0,7. based on the results of the reliability test in table 1, it shows that the three variables studied have a value greater than 0,7, so the three variables are declared reliable (hair et al., 2018). table 3 shows that respondents’ perceptions of decentralization, managerial performance, and budgetary participation. the results show that respondents agree that there is a delegation of authority at the village level. in addition, respondents also agree that the village head has a good performance. similar to decentralization and managerial performance, village heads also agreed to always be involved in budgeting. table 4 shows the results of testing hypothesis 1, 2, and 3. hypothesis 1 shows that decentralization has a positive and significant effect on managerial performance (β = 0,568, t = 9,687, p < 0,05). hypothesis 2 also shows that decentralization has a positive and significant effect on budget participation (β = 0,580, t = 8,112, p < 0,05). similar to hypothesis 1 and 2, hypothesis 3 also shows that budget participation has a positive and significant effect on managerial performance (β = 0,705, t = 17.344, p < 0,05). finally, the results of testing hypothesis 5 show that budgetary participation mediates the relationship between decentralization and managerial performance. it can be seen from the direct influence between decentralization and managerial performance of 0,568. when the mediating variable of budget participation is added, the value increases to 0,409, so that budget participation in the research fully mediates the relationship between decentralization and managerial performance. the results indicate that decentralization is positively related to managerial performance. higher the level of decentralization given by the leader to subordinates or managers, the higher the managerial table 2 validity and reliability tests factor and scale factor 1 factor 2 factor 3 kaiser-meyer-olkin measure of sampling adequacy = 0,810 authority has been delegated to the appropriate subordinates for each of the classes of decisions. 0,838 i work according to the task specifications in the village. 0,825 the village i lead publishes an employee's manual. 0,788 most operating decisions are made according to the level 0,860 your managerial style (decision making) is conditional 0,811 cronbach’s alpha = 0,880 kaiser-meyer-olkin measure of sampling adequacy = 0,799 planning for my area of responsibility 0,660 coordinating my area’s activities 0,791 evaluating my subordinates’ activities 0,788 investigating issues in my area of responsibility 0,769 supervising staff 0,799 obtaining and maintaining suitable staff 0,544 negotiating 0,570 representing the interests of my area of responsibility 0,675 overall performance 0,651 cronbach’s alpha = 0,858 kaiser-meyer-olkin measure of sampling adequacy = 0,813 the portion of the budget i am involved in setting 0,664 the amount of reasoning provided to me by a superior when the budget is revised 0,560 the frequency of budget-related discussions with superiors initiated by me 0,794 the amount of influence i feel i have on the final budget 0,667 the importance of my contribution to the budget 0,886 the frequency of budget-related discussions initiated by my superior when budgets are being set 0,769 cronbach’s alpha = 0,812 source: processed data in pr es s 177decentralization and managerial performance .... (muhammad hasnin, et al.) performance obtained by the manager. this is in accordance with the opinion of bruns and waterhouse (1975) that a manager or subordinate in a decentralized organization feels himself a more influential person, participates more in budget planning, and feels satisfied with activities related to the budget so that it will increase self-confidence and performance. the results are also similar to those of purwanti et al. (2017), soleiman and thalib (2020), and amran (2020) that decentralized power sharing encourages managers or subordinates to actively participate in the preparation of budget. the participation given by the manager in the preparation of the budget will result in an increase in managerial performance to be achieved by the manager or subordinate. the research also provides results in accordance with the hypothesis that decentralization has a positive effect on budget participation. luthans (2002) argues that the existence of decentralization provides relevance at lower levels of participating in decision making. with decentralization there will be employee empowerment since employees are more involved in various activities, especially in decision making. apart from this, decentralization will also motivate subordinates to play an active role in every operational and managerial activity of the company, which in the end is an extremely important part of productivity. these results also confirm previous research that decentralization has a positive influence on budget participation, since higher level of decentralization in decision-making given to managers increases their participation in budgeting involvement (riyadi, 2007). the results show that budgetary participation is significantly positively related to managerial performance. it shows that the role of participation in the preparation of the budget can be related to the process of involvement of managers in preparing the budget and its implementation to achieve certain targets. direct involvement of managers in budgeting will have an impact on budgeting. this is in accordance with the theory put forward by nguyen, evangelista & kieu (2019) that budgetary participation will have an impact on performance when managers are able to be further involved in budgeting. this refers to the frequency of effective consultation between managers and subordinates on budgets. the results are also in accordance with the results of research by purwanti et al. (2017), soleiman and thalib (2020), pradana, (2021) and hussein et al., (2021) that involving managers in budgeting will ultimately improve their performance. table 5 shows that the budget participation variable can be a full mediating variable both directly and indirectly on managerial performance, especially in the context of the village head, especially the village government of west halmahera regency. the result also strengthens the theory of the relationship mechanism described previously in hypothesis 4 table 3 respondents’ perceptions of decentralization, managerial performance and budgetary participation variable % strongly disagree % disagree % less disagree % agree % strongly agree mode decentralization 14,47 52,83 32,70 agree managerial performance 2,52 22,64 61,01 13,84 agree budget participation 1,26 4,40 34,59 50,31 9,43 agree source: processed data table 4 hypothesis testing results variable independent managerial performance budget participation β t sig. β t sig. decentralization 0,568 9,687 0,000 0,580 8,112 0,000 budget participation 0,705 17,344 0,000 source: processed data table 5 direct, indirect and total effect for budget participation as mediating variable variable direct indirect total effect decentralization-managerial performance 0,568 0,409 0,977 decentralization-budget participation 0,580 – – budget participation-managerial performance 0,705 – – source: processed data in pr es s 178 the winners, vol. 23 no. 2 september 2022, 173-180 (dakhli, 2021; kahar et al., 2019; murhaban & adnan, 2020), but not in line with riyadi, (2007). iv. conclusions the research yields three main contributions as well as implications. first, the research provides new findings, namely budgetary participation as a mediating variable on the relationship between decentralization and managerial performance in the context of village government. results also contribute to the management and accounting literature, especially on decentralization, budgetary participation, and managerial performance. second, in terms of age, research provides evidence that the productive age in developing villages ranges from 30-40 years. third, the preliminary descriptive analysis has shown a tendency in the educational aspect to show that the level of education does not guarantee that higher education is capable of managing village government better than those with lower levels of education. it can be concluded that: 1) decentralization has a positive effect on managerial performance, 2) decentralization has a positive effect on budget participation, 3) budget participation has a positive effect on managerial performance, and 4) budgetary participation fully mediates the relationship between decentralization and managerial performance. in addition, the research also has limitations and recommendations for future research. the research uses measurements for managerial performance variables that are personal assessment, so it reveals that managers or village heads in assessing their own performance. therefore, it is suggested that future research express performance using a 360-degree assessment. in addition, the research can examine several other variables to see the mediation between the relationship between decentralization and managerial performance such as self-efficacy, organizational culture, management accounting system, environmental uncertainty, and internal control which have been neglected to be studied in the context of village government. acknowledgement the research was funded by a research grant through the faculty of economics and business, universitas khairun in 2021. the authors would like to thank the faculty for its support until the production of the research. references ainanur, a. & tirtayasa, s. 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(teguh sriwidadi) 47 pengaruh kepemimpinan dan kapabilitas dinamis terhadap manajemen pengetahuan di binus university jakarta teguh sriwidadi management department, school of business management, binus university jln. k.h. syahdan no. 9, palmerah, jakarta barat 11480 teguhfemale@gmail.com abstract this research aims to analyze the effect of leadership and dynamic capabilities on knowledge management at binus university. research objects are lecturers and employees of binus unversity with 90 respondents. sampling technique used is disporporsiaonte stratified random sampling procedure, the number of subjects of each stratum would no be altered, while keeping the sample size unchanged. the data analysis method is ibm spss (statistical program for social science) version 20. the result is the effect of leadership and dynamic capabilities on knowledge management presented by multiple regression equation: y = 1,425 + 0,031 x1 + 0,625 x2, which y = knowledge management, x1 = leadership, and x2 = dynamic capabilities. the dynamic capabilities significantly affects knowledge management, but leadership does not significantly affect knowledge management. leadership variable has two functions, as independent variable but must be controlled and as the second independent variable or as mediator. keywords: leadership, dynamic capabilities, knowledge management abstrak penelitian ini bertujuan untuk mengetahui pengaruh kepemimpinan dan kapabilitas dinamis terhadap penerapan manajemen pengetahuan dalam penyelenggaraan proses belajar mengajar di binus university. responden penelitian adalah dosen dan karyawan binus university yang berjumlah 90 reponden. teknik pengambilan sampel dilakukan dengan cara disproporsionate stratified random sampling, dengan jumlah subjek dari setiap strata tidak sama rata, tetapi jumlah sampel tidak berubah. metode pengolahan data yang digunakan adalah ibm spss (statistical program for social science) version 20. hasil penelitian menunjukkan pengaruh kepemimpinan dan kapabilitas dinamis terhadap manajemen pengetahuan ditunjukkan oleh persamaan regresi linear berganda y = 1,425 + 0,031 x1 + 0,625 x2; dengan y = manajemen pengetahuan, x1 = kepemimpinan, x2 = kapabilitas dinamis. kapabilitas dinamis berpengaruh secara signifikan terhadap manajemen pengetahuan, sedangkan variabel kepemimpinan pengaruhnya tidak signifikan terhadap manajemen pengetahuan. variabel kepemimpinan memiliki dua fungsi, yaitu: sebagai independent variable tetapi harus dikontrol dan sebagai independent variable kedua atau sebagai mediator. kata kunci: kepemimpinan, kapabilitas dinamis, manajemen pengetahuan   48   journal the winners, vol. 15 no. 1, maret 2014: 47-60  pendahuluan ditinjau kemajuannya, menurut nizam (2013) saat ini indonesia menduduki peringkat dunia keenam belas, memiliki 45 juta penduduk usia sekolah, 55 juta tenaga trampil, dan $ 0,5 triliun peluang pasar untuk jasa, pertanian dan perikanan, sumber daya, dan pendidikan. berdasarkan proyeksi mckinsey and company (2012), pada 2030 indonesia akan menduduki peringkat dunia yang ke tujuh, dengan 135 juta penduduk usia sekolah, 113 juta tenaga trampil, dan $1,8 triliun peluang pasar untuk jasa, pertanian dan perikanan, sumber daya, dan pendidikan. melihat besarnya peluang pasar khususnya di bidang pendidikan, maka pendidikan perlu dibina dan dikembangkan baik kuantitasnya dan kualitasnya. penduduk usia sekolah yang jumlahnya sekitar 45 juta anak pada masa usia belajar difasilitasi oleh 95 perguruan tinggi negeri (ptn) dan sekitar 3.000 perguruan tinggi swasta (pts). jumlah pts yang besar ini mampu menampung sekitar 70 persen anak indonesia pada usia belajar, sedangkan yang mendapatkan kesempatan untuk memperoleh pendidikan di ptn hanya sekitar 30 persen. besarnya jumlah anak pada usia belajar, dan adanya faktor pergeseran usia penduduk, serta kemajuan ekonomi menambah kemungkinan anak-anak dari keluarga menengah memasuki jenjang pendidikan tinggi, yang berakibat meningkatnya permintaan terhadap pendidikan tinggi.tantangan terbesar adalah bagaimana menyediakan pendidikan tinggi dalam menghadapi begitu pesatnya pertumbuhan permintaan itu dan mengupayakan agar pendidikan tinggi yang sudah ada tetap baik mutunya dan berkelanjutan (sustainable) (elfindri, 2013). binus university, sebagai salah satu perguruan tinggi swasta mengalami persaingan yang sangat ketat, dalam lingkup domestik maupun global. dalam menghadapi persaingan dalam era globalisasi pts sebagai organisasi dituntut untuk meninggalkan paradigma resource-based competitivenesss, di mana organisasi yang dianggap unggul dan kompetitif ialah organisasi yang memiliki faktor-faktor produksi secara lengkap seperti modal, tanah, tenaga kerja, bangunan, lokasi, dan mulai untuk mempergunakan paradigma knowledge-based competitiveness (suharti & hartanto, 2009), sebagai tumpuan baru berupa eksploitasi, dan pengelolaan ilmu pengetahuan yang ada pada setiap sumber daya manusianya, dan teknologi dengan tujuan untuk mencapai keunggulan dan daya saing pada tingkat yang paling optimal. fenomena inilah yang disebut dengan konsep knowlegde management ini berarti knowledge management merupakan hal penting untuk diterapkan di perguruan tinggi. penerapan km di lingkungan perguruan tinggi merupakan sesuatu yang mutlak, namun penelitian empirik penerapan km di institusi pendidikan tinggi masih sangat terbatas (suharti & hartanto, 2009). beberapa studi terbatas dalam konteks negara barat menunjukkan bahwa institusi pendidikan tinggi dapat bertransisi dari institusi pengetahuan menjadi institusi pembelajar melalui penerapan km. perguruan tinggi yang menerapkan manajemen pengetahuan mampu menempatkan diri dengan baik dalam menjawab tantangan persaingan dalam industri pendidikan di era globalisasi saat ini. berdasarkan latar belakang masalah tersebut, penelitian tentang pengaruh kepemimpinan dan kapabilitas dinamis terhadap manajemen pengetahuan dilakukan. penelitian ini dilakukan untuk mengevaluasi pengaruh kepemimpinan dan kapabilitas dinamis terhadap manajemen pengetahuan di binus university. landasan teori teori-teori kepemimpinan menurut al-zegaier (2012), ada sembilan tipe dasar kepemimpinan dari teori kepemimpinan. teori sifat dari kepemimpinan (trait theories of leadership) menjawab pertanyaan dengan pengaruh kepemimpinan..... (teguh sriwidadi) 49 memberikan spesifikasi atau identifikasi sifat, karakteristik, kemampuan, pola perilaku, atau keterampilan yang dimiliki atau ditunjukkan oleh pemimpin. masalah dalam teori ini adalah selalu mengidentifikasikan karakteristik yang membedakan pemimpin dari orang-orang dengan sifat yang sama dengan yang bukan pemimpin (bass, 1990). teori manajemen dari kepemimpinan (management theories of leadership) berhubungan terutama dengan kinerja organisasi atau kelompok. tipe teori ini mencakup kepemimpinan transaksional, kepemimpinan transformasional, kepemimpinan demokratis, dsb). masalah yang mendasar dari teori ini adalah masalah eksploitasi (bass, 1990). teori hubungan (relationship theories) menjawab pertanyaan dengan mendefinisikan kepemimpinan sebagai hubungan antara orang-orang dengan keinginan dan kebutuhan bersama yang berjuang untuk tujuan bersama. hubungan ini didefinisikan dengan konflik dan dengan pengaruh. teori proses (process theories) menjawab pertanyaan dengan mendefinisikan kepemimpinan sebagai proses dari interaksi dinamis di antara orang-orang dengan etika yang berbeda-beda untuk menyelaraskan mereka dalam menyelesaikan masalah sosial khusus atau untuk menghasilkan secara evolusi perubahan sosial. dalam teori ini pemimpin lebih dipandang simbol dari yang diinginkan oleh setiap orang dari pada sebagai pembuat / produsen hasil. teori perilaku (behavioural theories) membahas beberapa celah dalam teori sifat dengan konsentrasi pada apa yang benar-benar dilakukukan oleh pemimpin bukan pada kualitas yang mereka miliki (theory x dan theory y). kepemimpinan partisipatif (participative leadership) merekomendasikan gaya kepemimpinan yang melibatkan orang lain dalam proses kepemimpinan. teori-teori ini (gaya kepemimpinan lewin, gaya kepemimpinan likert) menyarankan bahwa pemimpin mempunyai hak untuk menerima atau menolak perkataan dari bawahannya dalam proses kepemimpinan. kepemimpinan situasional (situational leadership) menyarankan bahwa kepemimpinan adalah reaksi terhadap situasi di mana sedang dilaksanakan. teori-teori ini (model normatif, model kepemimpinan berpusat-tindakan, kepemimpinan kesatuan, model kepemimpinan situasional hersey and blanchard, teori lintasan-tujuan, dsb.) menyarankan bahwa mungkin gaya kepemimpinan yang berbeda memerlukan level yang berbeda pada organisasi yang sama. teori kontingensi (contingency theories) memperhalus sudut pandang situasional dengan berfokus pada identifikasi variabel-variabel situasional yang menentukan gaya kepemimpinan yang paling tepat untuk menyesuaikan dengan keadaan tertentu. teori kepemimpinan house’s path-goal dikembangkan oleh robert house dan memiliki akar-akar dalam teori harapan dari motivasi. teori ini berdasarkan pada alasan bahwa persepsi karyawan akan harapan (expectancy) antara usaha dan kinerjanya sangat dipengaruhi oleh perilaku pemimpinnya. keempat gaya kepemimpinan menurut house adalah: directive, supportive, participative, dan achievement-oriented. definisi kepemimpinan transaksional dan transformasional menurut hamilton (2010), berdasarkan teori kepemimpinan, kepemimpinan transaksional dan kepemimpinan transformasional termasuk dalam teori kepemimpinan manajemen (al-zegaier, 2012). kepemimpinan transaksional secara sederhana diringkas sebagai transaksi antara pemimpin dan bawahan, dalam usaha untuk meningkatkan kinerja. secara umum didefinisikan sebagai kepemimpinan yang berdasarkan transaksi antara manajer dan pekerja (bass, 1990). bass (1990) mendeskripsikan kepemimpinan transaksional secara terperinci sebagai perubahan dalam tingkat atau peningkatan marginal yang dapat dilihat sebagai hasil dari kepemimpinan yaitu proses pertukaran: suatu transaksi yang bawahan mencapai kinerja dan mencapai kontrak eksplisit atau implisit dengan pimpinannya. kepemimpinan transaksional sebagai persyaratan dan kondisi eksplisit khusus dari suatu tugas, dilengkapi dengan penghargaan (reward) untuk memenuhi persyaratan tersebut dan bahwa memenuhi persyaratan adalah melengkapi transaksi tersebut. sedangkan kepemimpinan transformasional merupakan tipe kepemimpinan yang menginspirasi dan mentransformasi pekerja dalam rangka meningkatkan kinerjanya. bass (1990) menjelaskan transformasional terjadi jika pemimpin memperluas dan mengangkat kepentingan dari pekerja, ketika mereka membuat kesadaran dan penerimaan dari tujuan dan misi kelompok, dan ketika mereka memadukan para pekerja untuk melihat lebih jauh dari sekedar kepentingan diri sendiri untuk kebaikan kelompok.   50   journal the winners, vol. 15 no. 1, maret 2014: 47-60  multifactor leadership questionnaire (mlq) bass (1990) mengembangkan multifactor leadership questionnaire (mlq) untuk tingkat pemimpin menunjukkan kepemimpinan transaksional dan transformasional dan tingkat pengikut/bawahan (follower) puas terhadap efektifitas kepemimpinan pemimpinnya. mlq mengukur berbagai tipe kepemimpinan dari pemimpin pasif sampai pemimpin yang memberikan penghargaan kontingensi kepada para pengikut-pengikutnya, sampai pemimpin yang mentransformasikan pengikutnya menjadi pemimpin bagi dirinya sendiri. mlq menawarkan pemikiran lengkap dari 9 faktor kepemimpinan, yaitu kepemimpinan transformasional: atribut ideal (idealized attributes), perilaku ideal (idealized behaviour), motivasi inspirasional (inspirational behaviour), stimulasi intelektual (intellectual stimulation), pertimbangan individual (individualized stimulation); kepemimpinan transaksional: penghargaan kontingensi, manajemen dengan pengecualian (management-by-exception) aktif; perilaku menghindar pasif (passive – avoidant behaviours): manajemen dengan pengecualian (management-by-exception) pasif, kepemimpinan bergaya lebih bebas (laissez-faire). konsep kapabilitas dinamis kapabilitas dinamis didefinisikan dari dua suku kata, yaitu kapabilitas dan dinamis. istilah dinamis menunjukkan kapasitas untuk memperbarui kompetensi-kompetensi untuk mencapai kesesuaian dengan perubahan lingkungan bisnis; tanggapan tertentu diperlukan ketika laju perubahan teknologi cepat, dan kompetisi mendatang dan kondisi pasar sulit ditentukan. istilah kapabilitas menekankan aturan kunci dari manajemen dalam beradaptasi, mengintegrasi, dan merekonfigurasi secara tepat ketrampilan-ketrampilan internal dan eksternal organisasi, sumber daya, dan kompetensi fungsional untuk menyesuaikan dengan persyaratan perubahan lingkungan. konsep kapabilitas dinamis dikembangkan secara eksplisit dalam suatu studi oleh teece, pisano, dan shuen (1997). konsep ini secara formal dipublikasikan pada 1994 oleh teece dan pisano. mereka menerangkan bahwa rbv (resources based view) tidak bisa untuk melengkapi penjelasan bagaimana suatu perusahaan sukses dalam mendemonstrasikan inovasi produk yang responsif, cepat, dan fleksibel dan menyebarkan kembali kompetensi-kompetensi internal dan eksternal. secara eksplisit berargumentasi bahwa pandangan tentang kapabilitas dinamis bisa mengatasi keterbatasan dari rbv. mereka mendefinisikan kapabilitas dinamis sebagai kemampuan untuk mengintegrasi, membangun, dan merekonfigurasi kompetensi-kompetensi internal dan eksternal untuk menghadapi perubahan lingkungan yang cepat. tinjauan pustaka konstruk manajemen pengetahuan dalam perspektif integrasi, menajemen pengetahuan menggambarkan sumber daya yang ada dalam organisasi yang mungkin sudah diterapkan pada praktek-prakterk sistem informasi yang baik, manajemen informasi perubahan organisasional, dan manajemen sumber daya manusia. secara khusus dilihat dari perspektif sumber daya manusia, manajemen pengetahuan merupakan suatu proses untuk memperoleh, menangkap, berbagi, atau menggunakan pengetahuan, di mana pun tempatnya, untuk meningkatkan pembelajaran dan kinerja dalam organisasi. manajemen pengetahuan merupakan manajemen sistematik dan eksplisit dari pengetahuan vital dan proses-proses yang berhubungan, dari menciptakan, mengumpulkan, mengorganisasikan, difusi, penggunaan dan eksploitasi, dalam mengejar tujuan organisasi. dari perspektif sistem informasi, martin (2000) mendefinisikan manajemen pengetahuan sebagai semua metode, instrumen, dan alat dalam pendekatan yang holistik berkontribusi terhadap promosi dari proses pengetahuan inti. perspektif kedua dalam mendefinisikan manajemen pengetahuan adalah perspektif strategi (uit beijerse, 2000). menurut perspektif ini manajemen pengetahuan dianggap sebagai pencapaian tujuan organisasi dengan membuat faktor produktif pengetahuan. definisi manajemen pengetahuan pengaruh kepemimpinan..... (teguh sriwidadi) 51 sebagai tindakan untuk meningkatkan cara-cara dimana perusahaan-perusahaan menghadapi lingkungan dengan turbulensi tinggi dapat memobilisasi basis pengetahuan (atau mendaya-ungkit aset pengetahuan) dalam rangka memastikan inovasi yang kontinu. dari definisi tersebut tampak bahwa kemajuan dalam manajemen pengetahuan perlu mengadopsi integrasi perspektif interdisipliner dan strategis (jashapara, 2011). tujuan strategis dari aktivitas-aktivitas manajemen pengetahuan adalah untuk meningkatkan modal intelektual dan mempertinggi kinerja organisatoris. terdapat dimensi manusia dari pengembangan pengetahuan individual, tim, dan organisasi dan semuanya terjadi secara mendasar melalui proses pembelajaran yang berbeda. dari perspektif yang ketiga, yaitu interdisipliner, manajemen pengetahuan dapat didefinisikan sebagai proses pembelajaran efektif dihubungkan dengan eksplorasi, eksploitasi, dan berbagi pengetahuan manusia (tersembunyi dan terang-terangan) yang menggunakan teknologi dan lingkungan budaya yang tepat untuk meningkatkan modal intelektual dan kinerja. dalam manajemen pengetahuan, dikenal isrilah-istilah data, information, pengetahuan, dan kebijakan (jashapara, 2011). data didefinisikan sebagai fakta atau benda yang diketahui yang digunakan sebagai basis inferensia atau reckoning. sedangkan definisi informasi adalah sesuatu yang menceritakan atau aktivitas menginformasikan atau menceritakan. informasi dapat dianggap sebagai data yang terorganisir secara sistematis. metode jenis data untuk semua variabel adalah data kuantitatif. sumber data adalah primer (dari kuesioner). teknik pengumpulan data menggunakan sumber data primer yaitu kuesioner. data sekunder diperoleh melalui studi literatur dengan cara melihat, membaca, dan mencatat buku-buku, internet, dan jurnal ilmiah. teknik pengambilan sampel dilakukan dengan cara disproporsionate stratified random sampling dengan jumlah subjek dari setiap strata tidak sama rata tetapi jumlah sampel tidak berubah. sampel dalam penelitian ini berjumlah 90 terdiri dari dosen dan karyawan. metode analisis data menggunakan regresi linier berganda dan korelasi. kerangka konseptual untuk membentuk kerangka konseptual, perlu dijelaskan mengenai jenis-jenis operasional variabel. menurut putong (2007) ada dua jenis variabel, yaitu variabel dependen (kriteria/respons) dan variabel independen (prediktor). variabel dependen terdiri dari tiga variabel yaitu variabel dependen tunggal, variabel dikotomi, dan variabel multiple, sedangkan variabel independen terdiri dari variabel anteseden (pendahulu), variabel intervening (partial mediator dan full mediator), dan variabel interaction (homologizer, quasi, dan pure moderator). kerangka konseptual (gambar 1) dibuat berdasarkan hubungan antara variabel-variabel kepemimpinan, kapabilitas dinamis, dan manajemen pengetahuan. kepemimpinan, dan kapabilitas dinamis masing-masing berpengaruh langsung terhadap manajemen pengetahuan (h1) dan (h2). gambar 1 kerangka konseptual h2 h1 kepemimpinan manajemen pengetahuan kapabilitas dinamis   52   journal the winners, vol. 15 no. 1, maret 2014: 47-60  berdasarkan kerangka konseptual yang diusulkan, disusun dua hipotesis yang akan diteliti yaitu h1 (pengaruh kepemimpinan terhadap manajemen pengetahuan), h2 (pengaruh kapabilitas dinamis terhadap manajemen pengetahuan). h1: kepemimpinan berpengaruh positif terhadap manajemen pengetahuan (crawford, 2003; ali, 2006; nguyen, neck, & nguyen, 2009; ryan, zhang, prybutok, & sharp, 2012; dan al-zegair, 2012). h2: kapabilitas dinamis berpengaruh positif terhadap manajemen pengetahuan (gooderham, 2007; nguyen & neck, 2008; easterby-smith & prieto, 2008). objek dan konteks penelitian subjek penelitian adalah dosen dan karyawan binus university dengan objek penelitian (konstruk yang diteliti) kepemimpinan, kapabilitas dinamis, dan manajemen pengetahuan. populasi dan sampel penelitian populasi merupakan objek dan subjek yang memenuhi syarat-syarat tertentu berkaitan dengan masalah penelitian. sampel adalah bagian dari populasi yang mempunyai ciri-ciri atau keadaan tertentu yang akan diteliti (riduwan & kuncoro, 2007). populasi ialah kumpulan yang lengkap dari elemen-elemen yang sejenis akan tetapi dapat dibedakan karena karakteristiknya. sampling ialah cara pengumpulan data; jika hanya elemen sampel yang diteliti, hasilnya merupakan data perkiraan atau estimasi, jadi bukan data sebenarnya (supranto, 2007). operasionalisasi konstruk operasionalisasi konstruk atau variabel merupakan penjelasan pengertian dari teori variabel, sehingga dapat diamati dan diukur dengan menentukan hal-hal yang diperlukan untuk mencapai tujuan tertentu.variabel adalah karakteristik yang dapat diamati dan sesuatu (objek) dan mampu memberikan macam-macam nilai atau beberapa katagori (riduwan & kuncoro, 2007). variabel-variabel pada penelitian ini merupakan variabel laten atau konstruk laten, yang merupakan konsep abstrak, hanya dapat diamati secara tidak langsung, yaitu melalui indikator-indikatornya. indikator-indikator diturunkan dari penelitian-penelitian sebelumnya, dengan menggunakan skala likert 1 – 5. menurut sugiyono (2010), skala likert digunakan untuk mengukur sikap, pendapat, dan persepsi seseorang atau sekelompok orang tentang fenomena sosial. skala ini menggunakan respons yang dikategorikan dalam lima macam kategori jawaban, yaitu: sangat setuju (ss), setuju (s), netral (n), tidak setuju (ts), sangat tidak setuju (sts). empat variabel penelitian ditunjukkan pada tabel 1. tabel 1 operasionalisasi variabel variabel indikator kepemimpinan transaksional (bass dalam hamilton, 2010) • penghargaan kontingensi penghargaan untuk usaha(effort) menjanjikan penghargaan untuk kinerja yang baik mengakui prestasi • manajemen dengan pengecualian (aktif) pemimpin melihat dan mencari penyimpangan dari aturan-aturan daristandar mengambil tindakan perbaikan • manajemen dengan pengecualian (pasif) pemimpin campur tangan hanya jika standarnya tidak terpenuhi • kepemimpinan laissez-faire pengaruh kepemimpinan..... (teguh sriwidadi) 53 pemimpin melepaskan tanggung jawab pemimpin menghindari pengambilan keputusan. menunda penyelesaian masalah yang penting kepemimpinan transformasional (bass dalam hamilton, 2010) • pengaruh idealis (idealized influence, ii) membuat orang lain merasa baik membuat orang lain bangga mendapatkan ketulusan dari bawahan • motivasi inspirasional (inspirational motivation, im) pemimpin mengkomunikasikan tujuannya pemimpin memanipulasi imajinasi pemimpin membantu orang lain menemukan arti dari pekerjaan • stimulasi intelektual (intellectual stimulation, is) kemampuan pemimpin untuk membuat orang berpikir tentang cara baru untuk melakukan pekerjaan pemimpin mempunyai cara baru untuk melihat pekerjaan pemimpin mempunyaicara untuk menjadi kreatif dalam metode penyelesaian masalah yang dimiliki. • pertimbangan individual, individual consideration, ic) pemimpin mendorong pengembangan individual pemimpin memberikan umpan balik kepada bawahannya. pemimpin melibatkan pekerja ke dalam tim atau kelompok kapabilitas dinamis (jiao, alon, & kwong 2011) • environmental sensing capability pemahaman aturan operasional pengenalan terhadap tren perubahan membangun perencanan untuk tanggapan yang cepat komunikasi yang sering dengan stakeholder (pesaing, pelanggan, pemasok, dll) • changing and renewal capability dukungan organisasi terhadap inovasi pekerja dorongan untuk budaya inovatif stimulasi dan penghargaan pada kapabilitas inovasi memberi semangat kepada pekerja • technological flexibility capabilities teknologi berguna bagi peningkatan produk / jasa teknologi cocok untuk berbagai produk dan jasa teknologi mempercepat pengenalan pelanggan terhadap produk dan jasa • organizational flexibility capability departemen mengizinkan terobosan prosedur kerja formal operasi kerja internal setiap orang berbeda mekanisme dan saluran komunikasi internal yang halus institusi selalu lebih cepat dari pesaing dalam memanfaatkan peluang manajemen pengetahuan • proses akuisisi (inkpen dalam nguyen & neck, 2008) memiliki proses memperoleh pengetahuan tentang pelanggan menurunkan pengetahuan baru dari pengetahuan yang sudah ada memiliki proses akuisisi pengetahuan tentang pemasok memiliki proses mendistribusikan pengetahuan ke seluruh organisasi memiliki proses memperoleh pengetahuan tentang produk /layanan baru dalam institusi memiliki proses pertukaran antar individu • proses konversi (gold, malhorta, & segars, 2001 dalam nguyen & neck 2008) memiliki proses untuk menyaring pengetahuan memiliki proses untuk mentransfer pengetahuan organisasi kepada individu memiliki proses untuk menyerap pengetahuan dari individu ke dalam organisasi memiliki proses untuk mengintegrasi sumber-sumber dan tipe-tipe pengetahuan yang berbeda memiliki proses pengorganisasian pengetahuan (penyimpanan/file) memiliki proses untuk menggantikan pengetahuan yang usang • proses aplikasi (gold, malhorta, & segars, 2001 dalam nguyen & neck, 2008) memiliki proses untuk menggunakan pengetahuan dalam pengembangan produk/layanan baru memiliki proses untuk menggunakan pengetahuan dalam menyelesaikan masalah baru mencocokkan sumber-sumber pengetahuan dengan masalah-masalah dan tantangan-tantangan menggunakan pengetahuan untuk meningkatkan efisiensi menggunakan pengetahuan untuk mengatur arah strategic bisa menempatkan dan mengaplikasikan pengetahuan pada perubahan kondisi persaingan mengambil keuntungan dari pengetahuan baru • proses proteksi (gold, malhorta, & segars, 2001dalam nguyen & neck 2008)   54   journal the winners, vol. 15 no. 1, maret 2014: 47-60  memiliki proses untuk melindungi pengetahuan dari penggunaan yang tidak tepat di dalam organisasi memiliki proses untuk melindungi pengetahuan dari penggunaan yang tidak tepat di luar organisasi memiliki proses untuk melindungi pengetahuan dari pencurian di dalam organisasi memiliki proses untuk melindungi pengetahuan dari pencurian di luar organisasi memiliki kebijakan dan prosedur yang luas untukk melindungi rahasia bisnis organisasi menilai dan melindungi pengetahuan yang melekat pada individu mengkomunikasikan secara jelas (menciptakan penghargaan terhadap) pentingnya melindungi pengetahuan metode analisis data hasil penelitian berupa kuesioner diolah menggunakan perangkat lunak ibm spss statistics 20. ibm spss statistics adalah suatu produk yang terintegrasi yang mengolah kesluruhan proses analisis, dari perencanaan, pengumpulan, dan analisis data, pelaporan dan pengembangannya. hasil dan pembahasan uji reliabilitas reliabilitas (tabel 2) menggambarkan pada kemantapan dan keajegan alat ukur yang digunakan. suatu alat ukur dikatakan memiliki reliabilitas atau keajegan yang tinggi atau dapat dipercaya, apabila alat ukur tersebut stabil sehingga dapat diandalkan dan dapat digunakan untuk meramalkan (predictability) (sekaran & bougi, 2010). pada penelitian ini, uji reliabilitas menggunakan metode cronbach alpha (tabel 3). reliabilitas diukur dengan menguji tingkat konsistensi hasil pengukuran jika dilakukan pengukuran ulang. andal atau tidaknya suatu data dapat dilihat dari koefisien alpha yang dihasilkan. data yang mendekati angka 1 (satu) dapat dikatakan memiliki keandalan tinggi. menurut hair (2010), nilai koefisien cronbach alpha yang mendekati 1 menunjukkan bahwa hasil yang diperoleh semakin konsisten sehingga dikatakan mempunyai reliabilitas yang tinggi. suatu data dikatakan akurat jika nilai koefisien cronbach alpha minimum adalah 0,60 (malhotra, 2007). uji reliabilitas pada penelitian ini menggunakan program spss versi 20.0. tabel 2 rangkuman pengolahan data n % cases valid 90 100.0 excludeda 0 .0 total 90 100.0 a. listwise deletion based on all variables in the procedure tabel 3 reliability statistics statistik deskriptif rata-rata kepemimpinan adalah 3,9189 dengan standar deviasi 0,5032. nilai minimum 2,36 dan nilai maksimum 4,91. rata-rata kapabilitas dinamis adalah 3,9598 dengan standar deviasi cronbach's alpha n of items .901 3 pengaruh kepemimpinan..... (teguh sriwidadi) 55 0,47892. nilai minimum 2,50 dan nilai maksimum 5.00. rata-rata manajemen pengetahuan 4,0222 dengan standar deviasi 0,39383. nilai minimum 3,04 dan nilai maksimum 5,00. (lihat tabel 4) tabel 4 statistik deskriptif n minimum maximum mean std. deviation kepemimpinan 90 2.36 4.91 3.9189 .50302 kapabilitasdinamis 90 2.50 5.00 3.9598 .47892 manajemenpengetahuan 90 3.04 5.00 4.0222 .39383 valid n (listwise) 90 regresi variabel entered menunjukkan bahwa tidak ada variable yang dikeluarkan (removed), atau dengan kata lain kedua variabel bebas dimasukkan dalam perhitungan regresi. tabel 5 variables entered/removeda model variables entered variables removed method 1 kapabilitas dinamis, kepemimpinanb . enter a. dependent variable: manajemen pengetahuan b. all requested variables entered. angka r square adalah 0.629. ini berarti 62,9 % manajemen pengetahuan institusi bisa dijelaskan oleh variabel kepemimpinan dan kapabilitas. sedangkan sisanya (100% 62,9% = 37,1 %) dijelaskan oleh sebab/faktor yang lain. standard error of estimate adalah 0,24265. (lihat tabel 6) tabel 6 model summary model r r square adjusted r square std. error of the estimate 1 .793a .629 .620 .24265 a. predictors: (constant), kepemimpinan, kapabilitasdinamis dari uji anova atau f test (tabel 7), diperoleh f hitung adalah 73.723 dengan tingkat signifikansi 0.000. karena probabilitas (0.000) jauh lebih kecil dari 0.05, maka model regresi bisa dipakai untuk memprediksi manajemen pengetahuan. atau bisa dikatakan, kepemimpinan dan kapabilitas dinamis secara bersama-sama berpengaruh terhadap manajemen pengetahuan. tabel 7 anovaa model sum of squares df mean square f sig. 1 regression 8.682 2 4.341 73.723 .000b residual 5.123 87 .059 total 13.804 89 a. dependent variable: manajemenpengetahuan b. predictors: (constant), kapabilitasdinamis, kepemimpinan   56   journal the winners, vol. 15 no. 1, maret 2014: 47-60  persamaan regresi yang dapat dilihat dari tabel 8, yaitu: y = 1,425 + 0,625 x1 + 0,031 x2; dengan y = manajemen pengetahuan, x1 = kapabilitas dinamis, dan x2 = kepemimpinan. konstanta sebesar 1,425 menyatakan bahwa jika tidak ada kepemimpinan atau kapabilitas dinamis, manajemen pengetahuan nilainya 1,425 (maksimum 5). koefisien regresi x1 sebesar 0,625 menyatakan bahwa setiap penambahan (tanda +) 1 skala (dari skala likert 5) kapabilitas dinamis, maka manajemen pengetahuan akan meningkat 0,625 skala. koefisien regresi x2 sebesar 0,031 menyatakan bahwa setiap penambahan (+) 1 skala kepemimpinan akan meningkatkan manajemen sebesar 0,031 skala. uji “t” untuk menguji signifikansi konstanta dan variabel dependen manajemen pengetahuan. tabel 8 coefficientsa model unstandardized coefficients standardized coefficients t sig. b std. error beta 1 (constant) 1.425 .219 6.513 .000 kapabilitasdinamis .625 .094 .761 6.637 .000 kepemimpinan .031 .090 .039 .342 .733 a. dependent variable: manajemen pengetahuan kapabilitas dinamis hipotesis: ho = koefisien regresi tidak signifikan. ha = koefisien regresi signifikan. jika probabilitas > 0,05, ho diterima. jika probabilitas < 0,05, ho ditolak. dalam spss, biasanya kata probabilitas diwakili dengan kata signifikan/sig. terlihat bahwa sig. t adalah 0.000, atau probabilitas jauh lebih kecil dari 0.05, maka ho ditolak, atau koefisien regresi signifikan, atau kapabilitas dinamis berpengaruh secara signifikan terhadap manajemen pengetahuan. kepemimpinan hipotesis: ho = koefisien regresi tidak signifikan. ha = koefisien regresi signifikan. jika probabilitas > 0,05, ho diterima. jika probabilitas < 0,05, ho ditolak. terlihat bahwa sig. t adalah 0.733, atau probabilitas lebih besar dari 0.05, maka ho diterima, atau koefisien regresi tidak signifikan, atau kepemimpinan tidak berpengaruh secara signifikan terhadap manajemen pengetahuan. korelasi pertama, besar hubungan antara variabel kapabilitas dinamis dengan manajemen pengetahuan yang dihitung dengan koefisien korelasi adalah 0.793. sedangkan korelasi variabel kepemimpinan dengan manajemen pengetahuan adalah 0,644. secara teoretis, karena korelasi antara kapabilitas dinamis dengan kepemimpinan lebih besar, maka variabel kapabilitas dinamis lebih berpengaruh terhadap manajemen pengetahuan dibanding variabel kepemimpinan. kedua, terjadi korelasi yang cukup kuat antara variabel kepemimpinan dengan kapabilitas dinamis, yaitu 0.822. hal ini menandakan adanya multikolineritas atau korelasi di antara variabel bebas. ketiga, tingkat signifikansi koefisien korelasi satu sisi dari output (diukur dari probabilitas) menghasilkan angka pengaruh kepemimpinan..... (teguh sriwidadi) 57 0.000 atau praktis 0. karena probabilitas jauh di bawah 0.05, maka korelasi di antara variabel manajemen pengetahuan dengan kepemimpinan dan kapabilitas dinamis sangat nyata. (lihat tabel 9) tabel 9 correlations manajemen pengetahuan kepemimpinan kapabilitas dinamis manajemenpengetahuan pearson correlation 1 .664** .793** sig. (2-tailed) .000 .000 n 90 90 90 kepemimpinan pearson correlation .664** 1 .822** sig. (2-tailed) .000 .000 n 90 90 90 kapabilitasdinamis pearson correlation .793** .822** 1 sig. (2-tailed) .000 .000 n 90 90 90 **. correlation is significant at the 0.01 level (2-tailed). analisis lanjut untuk dependent variable yang tidak signifikan (kepemimpinan) berdasarkan tabel 10, kapabilitas dinamis dengan analisis regresi linear sederhana berpengaruh secara signifikan terhadap manajemen pengetahuan. hal ini ditunjukkan oleh kolom “sig” = 0.000 (jauh lebih kecil dari 0,05). tabel 10 coefficientsa model unstandardized coefficients standardized coefficients t sig. b std. error beta 1 (constant) 1.441 .305 4.726 .000 kapabilitas dinamis .652 .076 .793 8.528 .000 a. dependent variable: manajemen pengetahuan dari tabel 11, kepemimpinan dengan analisis regresi linear sederhana berpengaruh secara signifikan terhadap manajemen pengetahuan. hal ini ditunjukkan oleh kolom “sig” = 0.000 (jauh lebih kecil dari 0,05). tabel 11 coefficientsa model unstandardized coefficients standardized coefficients t sig. b std. error beta 1 (constant) 1.985 .353 5.627 .000 kepemimpinan .520 .089 .664 5.825 .000 a. dependent variable: manajemenpengetahuan   58   journal the winners, vol. 15 no. 1, maret 2014: 47-60  dari tabel 12, jika kepemimpinan sebagai dependent variable dan kapabilitas dinamis sebagai independent variable, kepemimpinan berpengaruh secara signifikan terhadap kapabilitas dinamis. hal ini ditunjukkan oleh kolom “sig” 0,000 (jauh lebih kecil dari 0,05). tabel 12 coefficientsa model unstandardized coefficients standardized coefficients t sig. b std. error beta 1 (constant) .502 .255 1.971 .052 kapabilitas dinamis .863 .064 .822 13.524 .000 a. dependent variable: kepemimpinan dari tabel 13, jika manajemen pengetahuan sebagai dependent variable dan kepemimpinan sebagai independent variable, kepemimpinan berpengaruh secara signifikan terhadap manajemen pengetahuan. hal ini ditunjukkan oleh kolom “sig” 0,000 (jauh lebih kecil dari 0,05). tabel 13 coefficientsa model unstandardized coefficients standardized coefficients t sig. b std. error beta 1 (constant) 1.985 .247 8.050 .000 kepemimpinan .520 .062 .664 8.333 .000 a. dependent variable: manajemenpengetahuan berdasarkan analisis-analisis tersebut dan berdasarkan tabel 14, variabel kepemimpinan memiliki dua fungsi, yaitu sebagai independent variable, tetapi harus dikontrol dan sebagai independent variable kedua atau sebagai mediator. tabel 14 correlations control variables manajemen pengetahuan kapabilitas dinamis kepemimpinan manajemen pengetahuan correlation 1.000 .580 significance (2-tailed) . .000 df 0 87 kapabilitas dinamis correlation .580 1.000 significance (2-tailed) .000 . df 87 0 simpulan hubungan antara variabel-variabel kepemimpinan, kapabilitas dinamis, dan manajemen pengetahuan ditunjukkan oleh persamaan regresi: y = 1,425 + 0,625 x1 + 0,031 x2; dengan y = manajemen pengetahuan, x1 = kapabilitas dinamis, dan x2 = kepemimpinan. konstanta sebesar 1,425 menyatakan bahwa jika tidak ada kepemimpinan atau kapabilitas dinamis, manajemen pengetahuan nilainya 1,425 (nilai maksimum 5). koefisien regresi x1 sebesar 0,625 menyatakan pengaruh kepemimpinan..... (teguh sriwidadi) 59 bahwa setiap penambahan (tanda +) 1 skala (dari skala likert 5) kapabilitas dinamis, maka manajemen pengetahuan akan meningkat 0,625 skala. koefisien regresi x2 sebesar 0,031 menyatakan bahwa setiap penambahan (+) 1 skala kepemimpinan, akan meningkatkan manajemen sebesar 0,031 skala. berdasarkan uji signifikansi independent variable diperoleh hasil bahwa kapabilitas dinamis berpengaruh secara signifikan terhadap manajemen pengetahuan (angka signfikansi 0,000). sedangkan variabel kepemimpinan tidak signifikan pengaruhnya terhadap manajemen pengetahuan (signifikansi 0,733). terakhir, variabel kepemimpinan memiliki dua fungsi, yaitu sebagai independent variable, tetapi harus dikontrol dan sebagai independent variable kedua atau sebagai mediator. daftar pustaka ali, h. m. 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(2000). knowledge management in small and medium-sized companies: knowledge management for entrepreneurs. journal of knowledge management, 4(2), 162–179. microsoft word 08_anneta-edit 66 journal the winners, vol. 13 no. 1, maret 2012: 66-79 antecedents of organizational citizenship behavior analysis and its impact toward organizational effectiveness on a fruit ice cream manufacture annetta gunawan; natalia management department, school of business management, binus university jl. k. h. syahdan no. 9, palmerah, jakarta barat 11480, indonesia annetta_gunawan@binus.ac.id abstract to achieve organizational effectiveness, every company needs not only qualified human resources, but also employees who perform organizational citizenship behavior (ocb), which is influenced by individual internal factor i.e. big five personality and its external factor i.e. job satisfaction and organizational commitment. pt harapan surya lestari also needs employees with high ocb level to maintain the sustainability of the company. the purpose of this research is to analyse the effects of big five personality, job satisfaction, and organizational commitment of the employees to organizational citizenship behavior and its impact toward organizational effectiveness on pt harapan surya lestari (hsl). the method used in the research is path analysis. the data is obtained from questionnaire disseminated to all the employees of pt hsl in order to measure the level of big five personality, job satisfaction, and organizational commitment of the employees and organizational effectiveness from the perception of each employee, using likert scale. results from the data analysis obtained structural equations y = 0,240 x1 + 0,166 x2 + 0,502 x3 + 0,6671 ε1 where simultaneously big five personality, job satisfaction, and organizational commitment contribute significantly to organizational citizenship behavior of 55,5% and z = 0,461 x2 + 0,374 y + 0,6921 ε2 where simultaneously job satisfaction and organizational commitment contribute significantly to organizational effectiveness of 52,1%. keywords: big five personality, job satisfaction, organizational commitment, organizational citizenship behavior, organizational effectiveness abstrak untuk mencapai efektivitas organisasi, setiap perusahaan tidak hanya membutuhkan sumber daya manusia yang berkualitas, tetapi juga karyawan yang melakukan perilaku warga organisasi (pwo), yang dipengaruhi oleh faktor internal individu yaitu kepribadian lima besar dan eksternal faktor tersebut yaitu kepuasan kerja dan komitmen organisasi. pt harapan surya lestari juga membutuhkan karyawan dengan tingkat pwo tinggi untuk mempertahankan keberlanjutan perusahaan. tujuan penelitian ini adalah untuk menganalisis efek dari lima besar kepribadian, kepuasan kerja, dan komitmen organisasi dari karyawan untuk perilaku kewarganegaraan organisasi serta dampaknya terhadap efektivitas organisasi pada pt harapan surya lestari (hsl). metode yang digunakan dalam penelitian ini adalah path analysis. data diperoleh dari kuesioner yang disebarkan kepada semua karyawan pt hsl untuk mengukur tingkat komitmen lima kepribadian, kepuasan kerja, dan komitment organisasi karyawan dan efektivitas organisasi dari persepsi masing-masing karyawan, menggunakan skala likert. hasil dari analisis data diperoleh persamaan struktural y = 0,240 x1 + 0,166 x2 + 0,502 x3 + 0,6671 ε1 di mana secara simultan kepribadian lima besar, kepuasan kerja, dan komitmen organisasi memberikan kontribusi yang signifikan terhadap perilaku warga organisasi sebanyak 55,5% dan z = 0,461 x2 + 0,374 y + 0,6921 ε2 di mana secara simultan kepuasan kerja dan komitmen organisasi memberikan kontribusi signifikan terhadap efektivitas organisasi sebanyak 52,1%. kata kunci: lima besar kepribadian, kepuasan kerja, komitmen organisasi, perilaku warga organisasi, efektivitas organisasi antecedents of organizational..... (annetta gunawan; natalia) 67 introduction every organization or company tends to find and obtain qualified and competitive human resources in order to fill organizational structure that has been set, so that the expected work results will be obtained. more than that, company also needs people who want to do things beyond their formal duties for organization without receiving more rewards in order to support the company to survive in competition and achieve success. this kind of employee behavior is called organizational citizenship behaviour (ocb). ocb is an extra role behavior that is appreciated when performed by employee, even though it’s not described formally, as it increases the effectiveness and the sustainability of the organization. employee behavior is the key to achieve effectiveness (ivancevich et al., 2007). organizational effectivity is the extent to which an organization succeeded in utilizing the existing resources optimally as an effort to achieve its purpose or goal while avoiding tension among its members as much as possible. one way to achieve the organizational effectiveness is by employing people who perform ocb. according to organ in yen and niehoff, a higher ocb level will result in higher effectiveness level for organization and will help bring new resources into the organization. in investigating the causes of individual behavior, in this case is ocb, internal and external factors of the individual should be considered. one of the internal factors is personality variable that is viewed from big five factors (big five personality), while external factors include work attitudes that consists of job satisfaction and organizational commitment. it is also based on ocb theory that was developed from disposition/ personality and work attitude (luthans, 2006, p251). whereas, according to robbins (2003), job satisfaction and organizational commitment are work attitudes that are considered in mostly organizational behavior research. pt harapan surya lestari (hsl) is a manufacturing company of instant drinks with different variants of taste. the company that was started to operate in 2001 and officially became a limited company (pt) in 2007, employs 113 permanent employees and 400 freelance labors. pt harapan surya lestari needs qualified employees with high ocb level so that the sustainability of the company can be maintained in order to face its competitors and unforeseen market condition. in fact, it is difficult to grow ocb within the employees. indisipliner actions that often happen are some evidences of the low quality work of the employees, especially about employees’ personality and mentality problems. generally, employees do not have self-initiative to work well; they have to be pushed by their superiors to be able to work better. from an observation, it is known that many employees come late and go home earlier. the targets of the duties frequently can not be achieved or finished on time. beside that, on working hours, they often do non job-related activities (playing games, playing facebook, smoking, chatting about topics not related to the work, etc). they do not feel responsible for office facilities, and there are still conflicts happened among the employees. moreover, fraud acted by employees ever happened for several times, that bring disadvantages material for the company, such as not giving the payment collected from distributors to the company and falsifying payment bills. the problem arising lately is less optimally employees’ work attitudes. this is mainly effected by the decreasing sales that causes the company to do retrenchment and cut unnecessary costs that affects the employees’ attitudes in working, where their work spirit drop and they no longer give optimal effort to the company. many employees become lazy, they even complain the management about the rewards and facilities they receive which are not as good as before. in addition, the company condition which is not convenient also makes managers and supervisors depressed. it influences their attitudes to become not as nice as usual to the employees, and finally it also impacts on the declining job satisfaction of the employees. 68 journal the winners, vol. 13 no. 1, maret 2012: 66-79 nevertheless, the employees of pt hsl are expected to still have commitment to their organization. until now, the level of employees loyality is high enough, proven by the low turnover level. but, there were still about 6% of the employees who resigned, although they were in good position when they resigned. and of course, it made the company lose human resources who actually contributed quite significantly for the company. from the explaination above, there are two purposes from this research. the first purpose is to know and to analyse how much big five personality, job satisfaction, and organizational commitment of the employees influence organizational citizenship behavior on pt hsl individually and simultaneously, while the second purpose is to identify and to analyse how much big five personality, job satisfaction, organizational commitment, and organizational citizenship behavior of the employees influence organizational effectiveness on pt hsl individually and simultaneously. big five personality personality is how people influence others and how they understand and see themselves, also how their measuring patterns of inner character and outer character measure trait and interaction between human-situation (luthans, 2006). meanwhile, according to ewen (2003), personality refers to important and relatively stable aspects of behavior. in this research, personality is viewed based on the big five personality that was developed by costa and mccrae (1992, 1998). greenberg dan baron (2003) defined big five as five basic dimensions of personality that are assumed to underlie many specific traits (robbins, 2003) as follows: (1) extraversion. this dimension includes someone’s interest level to relationships. extravert people tend to like to be incoporated in groups, be assertive, and be able to socialize. introvert people tend to be quiet, shy, and calm; (2) agreeableness. this dimension refers to an individual tendency to obey others. people who have high level of agreeableness are cooperative, warm, and easy to trust others. people with low rank in agreeableness are cool, not able to agree, and antagonistic; (3) conscientiousness. this dimension is a measure of reliability. people who are really sensitive to conscience, reliable, organized, credible, and persistent. they who have low rank in this dimension tend to be easily confused, not organized, and not reliable; (4) neuroticism. this dimension opens ways for the ability of an individual to survive from stress. people with positive emotional stability tend to be relaxed, confident, and safe. they who have highly negative score tend to be nervous, anxious, depressed, and unsafe; (4) openness to experience. this final dimension proposes a range of an individual interest and admiration towards new things. extremely extrovert people are creative, curious, and artistically sensitive. introvert people are conventional and find comfort in familiarity. attitude personality and attitude are complex cognitive processes. their difference lies in the fact that personality is thought as a whole human, while trait and attitude are thought as the shapers of personality (luthans, 2006, p236). work attitude is feeling, belief, and behavior tendency which are relatively stable to the various aspects of the job itself. most of organizational behavior researches concern about three work attitudes, i.e.: job satisfaction, job involvement, and organizational commitment (robbins, 2003). in this research, we only discuss about job satisfaction and organizational commitment. job satisfaction is the indivual level of satisfaction that they receive appropriate rewards of various aspects of job situation from the organizations where they work (tangkilisan, 2005). some job satisfaction factors are as follows: (1) the job itself. based on the job diagnostic survey, it is known that five characteristics related to job satisfacion for various jobs are skill diversity, task identity, essential duty, autonomy, and feedback giving; (2) fair salary or reward. by using fair theory of adams, people who receive salary too small or too big feel distressed; (3) promotion opportunity. antecedents of organizational..... (annetta gunawan; natalia) 69 someone can feel a large possibility to be promoted. this also can influence his job satisfaction; (4) supervision. functional relationship shows how much supervisor helps employee to satisfy their important job values. aggregation relationship is based on attractiveness interpersonal that has same basic attitudes and values. high job satisfaction level will be created if the two relationships are positive; (5) co-workers. job satisfaction will be created if there were appropriate amount of workers in one workspace, so that they can talk to one another (their social needs can be fulfilled). generally, cooperative co-workers or team members is the most simple source of an employee’s satisfaction. a good working team makes job fun, so that results in job satisfaction; (6) working environtment condition. companies need to provide bright and cool workspace, with equipments which are comfort to be used. in that condition, fulfilled physical needs will satisfy the employees. according to porter, steers, mowday, dan boulian (rabin, 2003), organizational commitment is the relative strength of an individual’s identification with and involvement in a particular organization. if job satisfaction shows an employee’s satisfaction to the job he does, then organizational commitment shows his satisfaction to the organization where he works. there are three dimensions of organizational commitment components according to mayer and allen: (1) affective commitment, which is an employee’s emmotional attachment, identification, and involvement in an organization. this emotional attachment is formed because he agrees with basic purposes and values of the organization, and understands for what the organization stands. people with high degree of affective commitment will choose to still stay in their organizations in order to support the organizations in achieving their missions; (2) continuance commitment, which is the commitment based on losses that might be occured if the employee resign from the organization. the longer an employee stays in an organization, the more unwilling he loses what he has already ‘invested’ in the organization for years, such as seniority, promotion opportunity, pension planning, and frienship with co-workers. people with high degree of continuance commitment will choose to still stay in their organization because they just do not want to take risks by losing those kinds of things; (3) normative commitment, which is the feeling about obliged to stay in the organization because it must be so; it is the right thing to do. the obligation to stay in the organization is caused by pressure from others. people with high degree of normative commitment really care about what others think if they resign from their organizations. that kind of employees feel hesitate to dissapoint their employers and afraid of being thought as irresponsible people if they resign. organizational citizenship behaviour organizational citizenship behaviour has been very famous in organizatiobal behavior since it was firstly introduced 20 years ago, with theoritical basis disposition/ personality and work attitude. the personality basic for ocb reflects an employee’s prediposition trait which is cooperative, helpful, care, and earnest. while the attitude basic indicates that an employee is involved in ocb in order to repay the organization (luthans, 2006). according to organ, organizational citizenship behaviour is discretionary behavior that is not included in an employee’s formal job requirements, even so it promotes effective functioning to the organization (robbins, 2003). van dyne et all proposed a construction of extra role behavior (erb), which is behavior that attempts to benefit the organization and that goes beyond existing role expectations (organ, 2005). ocb consists of five dimensions according to organ (purba dan seniati, 2004): (1) altruism, which is helping behavior to alleviate other’s work in an organization, for example help an unhealthy co-worker to do his work; (2) courtesy, such as helping co-workers to avoid problems related to their works by giving them consultation and information and appreciate their needs, or understanding and emphatizing even when be criticized; (3) sportsmanship, which is tollerating a situation that less than ideal in the workplace without complaining, such as participating in bearing the failure of a team 70 journal the winners, vol. 13 no. 1, maret 2012: 66-79 project that might be succeed by listening to members’ advice; (4) civic virtue, by participating in the organizational activities and caring about the existence of the organization, such as willing to represent the company for joint program; (5) conscientiousness, by doing things which give advantage to the organization, such as obeying rules of the organization and willing to work overtime to finish a project. it is proven that organizations which have employees with high level of ocb perform better than others which are not. so, organizational behavior is related to ocb as a dependent variable (robbins, 2003). therefore, present managers will be very wise to try to increase not only their employees’ job satisfaction and organizational commitment, but also ocb (luthans, 2006). organizational effectiveness georgopualos and tannebaum in tangkilisan (2005) defines organizational effectiveness as the extent to which an organization as a social system, given certain resources and mean, fulfill it’s objective without incapacitating it’s means and resources and without placing strain upon it’s members. effective function of an organization depends on an employee’s ocb. it is proven that an employee who performs ocb has better performance and receive higher performance evaluation. ocb is also related to performance and effectiveness of a group and an organization (luthans, 2006). moreover, organ also stated that higher ocb level will result in higher effectiveness for the organization and help bring new resources into the organization. organizational effectivity can be evaluated by considering about two factors including goal achievement and implementation process of the organization, which are reflected in the organizational behavior (hutapea and thoha, 2008). it is in line with tangkilisan’s opinion (2005) that the concept about organizational effectiveness involves two aspects, which are the goal of the organization and functional implementation or ways to achieve the goal. moreover, in hutapea and thoha (2008), ivancevich and matteson also used the similar approach to measure organizational effectiveness, i.e. goal approach and system theory approach. goal approach focuses on the extent to which an organization achieve its goal (griffin, 2004). those who agree with this approach argued that an organization is established in order to achieve its goal, so that to measure effectiveness level of the organizational implementation, they connect it directly to goal achievement of the organization. according to gibson in tangkilisan (2005), the clarity of the goal to be accomplished is indeed one of the measurement indicators of organizational effectiveness. meanwhile, system theory approach does not see organizational effectiveness based on the goal to be accomplished, but organizational behavior description at the time of interaction internally at the organization and the behavior of the organization when adapting with its environment (hutapea dan thoha, 2008). in other words, there are two roles to be implemented by an organization, which are internal role and external role. in this research, it is only used internally process approach, because the measurement of organizational effectiveness in this case is conducted from the employees point of view. internally process approach is related to the internal mechanism of the organization and focuses on minimalizing tension, integrating individual and organization, and implementing operation smoothly and efficiently (griffin, 2004). meanwhile, gibson mentioned supervision and control system as organizational effectiveness measure. smooth vertical and horizontal communication in an organization and the presence of work spirit and member loyalty are also included in the criteria of system theory approach (departemen teknik industri ftiitb, 2003). antecedents of organizational..... (annetta gunawan; natalia) 71 method the nature of this research is associative research. the unit of analysis used in this research are all employees in pt hsl. there are 113 employees working at pt hsl which make up the population of this research. researcher used census method by taking the whole population due to the relatively small population size. in order to collect data, questionnaire in likert scale was used to measure five research variables in which respondents giving weight to each question as follows: score 1 = strongly agree score 2 = agree score 3 = neither agree nor disagree score 4 = disagree score 5 = strongly disagree variables in this research can be operationalized in table 1 below. table 1 operationalization of variables variables dimensions indicators scale big five personality (x1) extraversion openness interval sociability interval ability to work in team interval agreeableness cooperativeness interval politeness interval respect other people’s interest interval conscientiousness self-discipline interval reliability interval hard working interval neuroticism calmness interval emotional stability interval having self confidence interval openness to experience curiosity to new things interval creative thinking interval flexibility in handling problems interval job satisfaction (x2) the job itself employee likes the job interval task significance interval the balance between employee’s ability and the job itself interval job feedback interval compensation the salary is appropriate to the job interval the salary is appropriate to the applied standard interval the salary is appropriate to employee’s abilities and skills interval promotion opportunities promotion based on achievement interval transparency of promotion process interval supervisor presence of positive functional relationship interval presence of similar overall relationship interval colleague fulfillment of employees’ social needs interval cooperative colleagues interval fellowship among colleagues in the work place interval working condition workroom condition interval office layout interval availability of working facilities interval 72 journal the winners, vol. 13 no. 1, maret 2012: 66-79 organizational commitment (x3) affective consent to organization’s basic values or goals interval involvement in attaining organization’s mission interval having emotional ties with organization interval retention anxiety of losing promotion opportunity if resign interval hopes to get more benefits by stay working for the organization interval unwillingness of losing relationship with colleagues if resigns interval unwillingness to look for other job due to convenience in the current job interval normative prefer to stay working for the organization to make employer undisappointed interval concern for what other people will say if resigns interval feeling that to stay in the organization is the right thing interval organizational citizenship behavior (y) altruism helps colleagues to finish overload work interval helps customers and guests who need help interval helps new colleagues to adapt to the workplace interval courtesy giving colleagues informations related to work interval willingness to receive criticism interval keeping up with the organization’s growth interval sportsmanship tolerance to less ideal situation in the work place interval never blaming others for the failure of employee’s own team interval civic virtue involvement in organization’s activities interval helps to maintain organization’s image interval concern with organization’s sustainability interval conscientiousness obedience to organization’s rules interval willingness to work more than minimum requirement interval willingness to work overtime interval maximize the use of working time interval organizational effectiveness (z) organizational goals setting goals as the benchmark for employees in doing their job interval desire from the organization’s members to achieve the goals interval involving employees in the process of setting goals interval goals are attained due to organization’s members contribution interval antecedents of organizational..... (annetta gunawan; natalia) 73 internal process effective control system interval employees feel satisfied with the organization interval good communication process in the organization interval organization’s members are free from pressure and stress interval ability of the organization to minimize internal conflict interval running the operational activities well and efficiently interval spirit of cooperation and loyalty among organization’s members interval trust and good communication between upper and lower level employees interval below are the hypotheses for this research: for research purpose 1 ho = big five personality (x1), job satisfaction (x2), and organizational commitment (x3) simultaneously do not have significant contribution to ocb (y) in pt hsl ha = big five personality (x1), job satisfaction (x2), and organizational commitment (x3) simultaneously have significant contribution to ocb (y) in pt hsl for research purpose 2 ho = big five personality (x1), job satisfaction (x2), organizational commitment (x3), and ocb (y) simultaneously do not have significant contribution to organizational effectiveness (z) in pt hsl ha = big five personality (x1), job satisfaction (x2), organizational commitment (x3), and ocb (y) simultaneously have significant contribution to organizational effectiveness (z) in pt hsl results and discussion to analyze the data, several techniques are used in accordance with the research problems and procedures such as: transformation of ordinal into interval data, validity-reliability test, and normality test. after conducting the tests, researcher used path analysis method to answer the research purposes. validity-reliability and normality test the result of validity test with 95% confidence interval shows that there are two invalid questions out of 15 questions that measure big five personality variable i.e. question number 5 and 12. there are five invalid questions out of 17 questions regarding job satisfaction i.e. question number 17, 19, 27, 28, and 32. for organizational commitment variable, from 10 questions, question number 37 and 40 are invalid. while 15 questions regarding ocb and 12 questions regarding organizational effectiveness are all valid. the result of reliability test by using spss shows that the data from each variable are reliable. 74 journal the winners, vol. 13 no. 1, maret 2012: 66-79 based on computation in spss, all five variables in this research are normally distributed. variable x1 has the value of sig = 0,054 (≥ 0,05) which indicates normality. variable x2 has sig value = 0,200 (≥ 0,05) thus the data is normally distributed. variable x3 has sig value = 0,200 (≥ 0,05) that indicates normality of distribution. variable y has sig value = 0,200 (≥ 0,05) so that it is normally disributed. variable z has sig value = 0,200 (≥ 0,05) that indicates normal distribution. furthermore, variable x1, x2, x3, y, and z can be analyzed by using path analysis method. path analysis the average scores of each dimension of research variables are shown in table 2 below. table 2 the average of variable x1, x2, x3, y, and z variables dimensions average big five personality extraversion 3,3429 agreeableness 3,5715 conscientiousness 3,5066 neuroticism 3,4213 openness to experience 3,0685 total average 3,3822 job satisfaction the job itself 3,8097 compensation 3,1374 promotion opportunities 3,7867 supervisor 3,8486 colleagues 3,9016 working condition 3,3983 total average 3,6471 organizational commitment affective 3,6870 retention 3,5765 normative 3,4454 total average 3,5697 organizational citizenship behavior altruism 3,3879 courtesy 3,3556 sportsmanship 2,9396 civic virtue 3,3791 conscientiousness 3,4124 total average 3,2950 organizational effectiveness organizational goals 3,3167 internal process 3,3763 total average 3,3465 the results of bivariate correlation between variable x1, x2, x3, y, and z are summarized in table 3 below. table 3 the nature of relationship between x1, x2, x3, y, and z relationship between correlation the nature of relationship x1 and y 0,560 moderate, positive, and significant x2 and y 0,489 moderate, positive, and significant x3 and y 0,677 strong, positive, and significant x1 and z 0,499 moderate, positive, and significant x2 and z 0,644 strong, positive, and significant x3 and z 0,510 moderate, positive, and significant y and z 0,599 moderate, positive, and significant antecedents of organizational..... (annetta gunawan; natalia) 75 the result of path analysis for sub-structure 1 is summarized in table 4. table 4 result summary of path coefficient of sub-structure 1 contribution of variable path coefficient (beta) sig value result coefficient of determination coefficient of other variables (ρyε1) x1 to y 0,240 0,003 ho rejected 0,555 = 55,5% 0,6671 x2 to y 0,166 0,033 ho rejected x3 to y 0,502 0,000 ho rejected structural equation obtained from sub-structure 1: y = ρx1yx1 + ρx2yx2 + ρx2yx2 + ρyε1 y = 0,240 x1 + 0,166 x2 + 0,502 x3 + 0,6671 ε1 where r2 = 0,555 the first hypothesis states that big five personality (x1), job satisfaction (x2), and organizational commitment (x3) simultaneously have significant contribution to ocb (y) in pt hsl. the overall result shows significant contribution between variables as well as all the subvariables which are individually accepted. the result of significance test of path coefficient of substructure 1 shows that the coefficients of variable x1, x2, and x3 to y are statistically significant. big five personality has a contribution of 0,2402 x 100% = 5,76% to ocb, job satisfaction contributes 0,1662 x 100% = 2,76% of ocb, while organizational commitment contributes 0,5022 x 100% = 25,20% of ocb. big five personality, job satisfaction, and organizational commitment simultaneously contributes 55,5% of ocb and the remaining 44,5% are influenced by other variables. big five personality (x1) has moderate, positive, and significant contribution to organizational citizenship behavior (y). as shown in table 3, big five personality correlates moderately strong with organizational citizenship behavior. this means that the higher level of employee’s big five personality leads to better organizational citizenship behavior. therefore, pt hsl has to put effort on increasing the aspects of big five personality of the employees so that their organizational citizenship behavior will also be improved. as mentioned in table 2, the lowest average score of the five dimensions belongs to openness to experience. this indicates that the employees are less opened to new experience as well as having less creativity to create new ideas. the reason is because the employees are too much focused on daily routinity in their work. hence, pt hsl needs to raise employees’ openness to new experience by altering the current work system to be more challenging which can give rise to employees’ creative thinking in problem solving. it is recommended to arrange recreation for employees which helps to stimulate their creativity. otherwise the company can hold seminars or workshops regarding creative thinking and opennes to new experience as well as conducting employee personality test to figure out which dimensions need to be improved for individual employee. job satisfaction (x2) has moderate, positive, and significant contribution to organizational citizenship behavior (y). according to the result in table 3, job satisfaction has moderately strong relationship with ocb. the higher level of job satisfaction leads to better organizational citizenship behavior of employees.thus pt hsl should put effort in order to increase employees’ job satisfaction to improve ocb. according to yuli (in andan, 2007, p12), the model of job satisfaction will stimulate employees’ behavior of doing more tasks than the required formal duty after passing a critical psychological condition. 76 journal the winners, vol. 13 no. 1, maret 2012: 66-79 organizational commitment (x3) has strong, positive, and significant contribution to organizational citizenship behavior (y). the result in table 3 shows that organizational commitment has strong relationship with ocb. compared to big five personality and job satisfaction, organizational commitment has the biggest impact to employees’ ocb, where organizational commitment variable has the largest beta coefficient. it aligns with the opinion stated by siagian (2005) that an organization in which the employees are viewed and treated as members of a big family tends to stimulate strong employee motivation to increase their organizational commitment. in turn, high organizational commitment causes various positive attitude and behavior such as avoiding misconducts that potentially harmful to organization’s reputation, loyalty to leaders, co-workers, and subordinates, high productivity, willingness to solve conflict though deliberations, etc. as shown in table 2, the lowest average score belongs to normative dimension. while the other two dimensions i.e. affective and retention show moderately high total score. this reveals that the employees of pt hsl prefer to stay working in the company and have strong willingness to work for the organization due to emotional ties with pt hsl and unwillingness of losing certain benefits if resign from the company. the high level affective dimension is possibly caused by the majority of the employees who have been working since the establishment of pt hsl, meanwhile the high level of retention is affected by the convenience of the working place and fellowship among organization members. the result shows that employees tend to conduct better ocb due to organizational satisfaction instead of job satisfaction. the result of path analysis of sub-structure 2 discovers that the path coefficients of big five personality (x1) variable and organizational commitment (x3) variable are not significant. consequently, the model should be modified through trimming method by excluding variable x1 and x3 which are not significant. then the model was reanalyzed and the result is summarized in the following table 5. table 5 summary of model 2: the result of path coefficient of sub-structure 2 contribution of variable path coefficient (beta) sig value result coefficient of determination coefficient of other variables (ρzε2) x2 to z 0,461 0,000 ho rejected 0,521 = 52,1% 0,6921 y to z 0,374 0,000 ho rejected structural equation obtained from model 2 sub-structure 2: z = ρzx2 x2 + ρzy y + ρz ε2 z = 0,461 x2 + 0,374 y + 0,6921 ε2 where r2 = 0,521 the second hypothesis states that big five personality (x1), job satisfaction (x2), organizational commitment (x3), and ocb (y) simultaneously has significant contribution to organizational effectiveness (z) in pt hsl, refers to simultaneous significant contribution. in contrary, not all sub-variables are accepted individually because based on path analysis of substructure 2, the path coefficients of x1 to z and x3 to z are not significant while the coefficients of x2 to z and y to z are significant. job satisfaction contributes 0,4612 x 100% = 21,25% of organizational effectiveness, while ocb contributes 0,3742 x 100% = 13,99% of organizational effectiveness. job satisfaction and ocb simultaneously contributes 52,1% of organizational effectiveness and the remaining 47,9% is influenced by other variables not included in this research. big five personality (x1) has weak but positive and unsignificant contribution to organizational effectiveness. according to the result in table 3, big five personality has moderately strong relationship with organizational effectiveness. the higher level of employees’ big five antecedents of organizational..... (annetta gunawan; natalia) 77 personality leads to higher organizational effectiveness. although big five personality has no significant contribution to organizational effectiveness, both variables correlate moderately strong with each other. therefore, pt hsl needs to hire employees with high level of big five personality by requiring personality test for applicants to reveal their underlying personality in order to attain organizational effectiveness. job satisfaction (x2) has strong, positive, and significant contribution to organizational effectiveness (z). in table 3, it is shown that job satisfaction correlates moderately strong with organizational effectiveness. from the result we know that job satisfaction has the biggest influence to organizational effectiveness compared to the other three independent variables, where job satisfaction has the largest beta coefficient. for that reason, job satisfaction becomes the main factor that pt hsl should pay attention to in achieving organizational effectiveness. table 2 shows that the lowest average scores among six dimensions of job satisfaction belong to compensation and working condition. this means that employees feel that the compensation given by the company and the current working condition is less sufficient. hence pt hsl should consider salary increase based on education level and portion of work to each employee. furthermore, the company needs to put attention to office layout, reparation of office facilities, etc. office layout and facilities should be well organized to make employees feel convenient to work which leads to higher job satisfaction. finally, employee will conduct behavior that support the attainment of organization’s goals and in turn will affect the attainment of the higher level of organizational effectiveness. organizational commitment (x3) has moderate, positive, and unsignificant contribution to organizational effectiveness (z). table 3 shows that organizational commitment has moderately strong relationship with organizational effectiveness. higher level of employees’ organizational commitment leads to higher organizational effectiveness. although organizational commitment contributes unsignificantly to organizatioanl effectiveness, both variables have moderately strong relationship. this is evidenced with employees’ good organizational commitment which aligns with the highest score of organizational effectiveness variable in question 68 which states that respondent has the spirit to cooperate in teams and loyalty to the organization. there are 3 main aspects needed to develop organizational commitment i.e. : identification, involvement, and loyalty to organization (kuntjoro, 2002). identification involves building employees trust to the organization. this can be realized by modifying organization’s objectives in order that it involves employees personal objectives or otherwise includes employees’ needs and desire. employees’ participation in working activities is essential to be concerned because employees involvement is able to create their willingness to cooperate whether with leaders or co-workers. employees loyalty to the organization is their willingness to maintain continuous relationship with the organization, even sacrificing their own personal interests for the organization. organizational citizenship behavior (y) has strong, positive, and significant contribution to organizational effectiveness (z). as shown in table 3, ocb has a moderately strong relationship with organizational effectiveness, nearly categorized to be strong relationship due to the correlation coefficient of 0,599 which is the upper limit within the category. higher level of employees’ organizational citizenship behavior leads to higher organizational effectiveness. this aligns with the opinion stated by organ (yen and niehoff, year unknown) that the effective function of an organization depends on the surpassing effort of the employees beyond their required formal duty, which is called organizational citizenship behavior (ocb). thus, pt hsl has to put efforts on improving employees’ ocb for the purpose of improving organizational effectiveness. according to the result in table 2, we find that sportmanship dimension has the lowest average score compared with the other four dimensions. two questions regarding sportmanship, which stated that respondent is tolerant to less ideal situation in the work place, and that respondent never blame others for the failure of his/her own team, have the lowest total scores which indicates internal conflicts including protests from employees to the management concerning unpleasure conditions for them. this aligns with question 65 (respondent is free from presssure and stress in the organization) and 66 (the company is 78 journal the winners, vol. 13 no. 1, maret 2012: 66-79 capable of minimizing internal conflicts) regarding organizatinal effectiveness which have the lowest scores compared to other questions. in addition, the highest total average score belongs to altruism, in which employees are willing to help colleagues finishing their overload works, help customers and guests who need it, as well as helping new colleagues to adjust within the new working environment without instructions from leaders, which is in accordance with process dimension in organizational effectiveness which has the highest total average score contributed by the highest score in question 67 (the organization runs its operational activities well). consequently, pt hsl should push and motivate the employees for the purpose of increasing their ocb to attain higher level of organizational effectiveness. conclusion the conclusion of this research can be summarized as follows. firstly, big five personality, job satisfaction, and organizational commitment simultaneously have significant contribution to organizational citizenship behavior at 55,5%. secondly, job satisfaction and organizational citizenship behavior simultaneously have significant contribution to organizational effectiveness at 52,1%, while big five personality and organizational commitment contribute unsignificantly to organizational effectiveness. the result shows that organizational commitment is the most significant factor that influence employees’ ocb, so that it can be figured out that the main reason in which employees are willing to perform extra role is their emotional ties to pt hsl, which is developed by employees satisfaction to the organization. in short, job satisfaction is also the main factor influencing the attainment of organizational effectiveness in pt hsl. there are several suggestions for the company resulting from this research. firstly, employees’ big five personality should be more concerned and improved by giving personality test through the big five inventory (bfi), then holding seminars or workshops regarding how to improve personality profile, especially in the workplace. secondly, employees’ job satisfaction should be the main concern of pt hsl, by continuously renewing good work system for the interest of the employees and the organization as well. moreover, pt hsl has to maintain equal promotion opportunity through reward and punishment system, assigning work which is proper to the capacity of individual employees, providing leadership and motivation training to the superiors to ensure that they are able to control and maintain good relationship with their subordinates, fostering good fellowship within the company by periodically arranges employee gathering or recreation, considering salary increase, and improving needed office facilities. thirdly, pt hsl is suggested to put efforts on increasing employees’ organizational commitment by giving more understanding to employees about the values and objectives of the organization through orientation program to new employees, modifying organization’s objectives to scope with employees’ personal objectives, involving employees in every attempt to achieve organization’s mission so that they have emotional ties with pt hsl, which can be accomplished through quality circle. furthermore, pt hsl needs to analyze and develop other factors that influence organizational citizenship behavior and organizational effectiveness through human resource research. antecedents of organizational..... 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(2006). organizational citizenship behavior: its nature, antecedents, and consequences. california: sage publication. purba, debora eflina & seniati, ali nina liche. (2004). pengaruh kepribadian dan komitmen organisasi terhadap organizational citizenship behavior. makara, sosial humaniora, 8 (no. 3), 105 – 111. rabin, jack. (2003). encyclopedia of public administration and public policy (volume 2). new york: marcel dekker. robbins, stephen p. (2003). perilaku organisasi (edisi 9). jakarta: indeks. siagian, s. p. (2005). manajemen sumber daya manusia (cetakan xii). jakarta: bumi aksara. tangkilisan, hessel nogi s. (2005). manajemen publik. jakarta: grasindo. yen, hsiu ju rebecca dan brian p. niehoff. (year unknown). relationship between organizational citizenship behaviors, efficiency, and customer service perceptions in taiwanese banks, ocb and effectiveness, midwest academy of mgmt. retrieved 20 november 2009 from http://www.cobacourses.creighton.edu. microsoft word 01_piksi_arif_eka_rev2 the relationship between leadership …… (eka sari budihastuti; arif yusuf hamali) 77  the relationship between leadership and teachers’ performance at state vocational high school “x” bandung eka sari budihastuti1; arif yusuf hamali2 1smk negeri 1 kota bandung jl. wastukancana no. 3, bandung, jawa barat, 40117 2politeknik piksi ganesha bandung jl. jend. gatot subroto 301, bandung, jawa barat, 40274 1budihas20mei@yahoo.com; 2arifyusufhamali@yahoo.co.id2 abstract this research was conducted at state vocational high school “x” bandung, aimed to determine the relationship of leadership and teachers’ performance, and also to analyze the effect of leadership on teachers’ performance at state vocational high school “x” bandung. respondents of this research are 30 employees selected by census technique. this research uses descriptive and associative method, which tests the connection using the spearman rank correlation analysis, and also done to determine the accuracy of measurement using by the validity and reliability test. results of the validity and reliability test of variables x and y are valid and reliable. calculations were performed using spss software version 19. the result of this study shows that leadership is in the category of good and teachers’ performance is also in the category of good. results shows the correlation of leadership with teachers’ performace at state vocational high school “x” bandung based on the interpretation of pearson product moment correlation is in the criteria of strong. it shows that the hypothesis is proved, there is significant relationship between leadership and teachers’ performance at state vocational high school “x” bandung. keywords: teacher leadership, teachers’ performance, pearson product moment correlation introduction the achievement of organizational goals cannot be often done easily. various obstacles are faced in its efforts to achieve the goal. economic turbulence, an increasingly aggressive competitor activity, and various other difficulties often make the goals to be achieved becomes uneasy, the same problems occur when organizations want to make changes to better fit with the environment development. human resources (hr) in organization is already familiar with the old way that would have are luctance to change. this is only among few other things since a new destination that wants to be pursued by the organization is still too vague, so that the employees are concerned such changes would only cause a variety of adverse impact on the interests of employees. in various situations like that, organizations need a leader who will perform the function of leadership. the leadership factor plays a very important role for leaders that will propel and steer the organization in achieving its objectives and task that is not easy. being the leader of a task is not easy because he has to understand each different subordinate behavior. subordinates are influenced in such a way so that they can provide dedication and participation to the organization effectively and 78 journal the winners, vol. 17 no. 2, september 2016: 77-89 efficiently. success or failure of efforts in achieving organizational goals depends on the quality of leadership. the function and role of a leader in an organization is to be responsible for motivating and giving direction to his subordinates. a leader who is capable of performing the leadership function and role effectively will affect the employees’ performance. performance is the output generated by functions or indicators of a job or a profession in a given time. the term performance can also be used to show the output of the organization, tools, management functions (production, marketing, finance), or the output of an employee. performance is the result of the synergy of a number of factors, among others are the organizational internal environmental factors, external environmental factors and employees’ or workers’ internal factor. the employees’ internal factors chime with the organizational internal environmental factors and the organizational external environmental factors. the synergy influences employees’ behavior in work then it affects employees’ performance. the employees’ performance then determines the performance of the organization. factors that can be controlled and conditioned by the organizations’ leaders are organizational internal environmental factor and employees’ internal factor. the organizational external environmental factors are beyond the leaderships’ control. the task of the leadership is to control and to develop the internal environmental factor and the employees’ internal factor. previous researches has stated that leadership variable affected employees’ performance positively and significantly. the role of a leader in encouraging employees to take the initiative, to take the risks, to stimulate the innovation, to familiarize themselves with the uncertainty, as well as to give working directions may affect teachers’ performance significantly (abbas & yaqoob, 2009; handayani, 2010; kiswanto, 2010; warni, 2010; sjafei, 2011; walumbwa et al., 2011; bello, 2012; mehrabi et al., 2012). leadership has a positive and significant relationship. the role and function of leadership applied in an organization will be able to generate high employee performance, so that the results of the implementation of the duties of employees will go in line with the work plan established by a leader (glorianto, 2005; nurwati et al., 2012; paracha et al., 2012; risqon & purwadi, 2012; soegihartono, 2012; supendy et al., 2012; parhusip, 2013; suwandi & sumarji, 2013; shafie et al., 2013; marpaung, 2014; iqbal et al., 2015; rasool et al., 2015). other researches stated a different result, namely the study of yusron (2010), stated that leadership did not affect partially and significantly on employees’ performance. improving the quality of leadership alone will not affect employees’ performance, that is not accompanied by increasing other external factors, such as leadership figure of a leader itself. state vocational high school "x" bandung is one of the state vocational educational institutions in bandung, which has the superior vocation such as accounting, office administration, marketing management, and business travel. state vocational high school "x" bandung as one of the favorites of vocational schools in the city of bandung are always trying to improve the quality of education, coupled with improving teachers’ performance as educators. the teachers’s performance will be achieved maximally when the leaderships’ functions and roles have been implemented effectively in that school. the phenomenon of leadership in state vocational high school "x" bandung based on a preliminary research to obtain the real problem (sugiyono, 2011) through interviews with teachers at school are shown in table 1. the relationship between leadership …… (eka sari budihastuti; arif yusuf hamali) 79  table 1 the phenomenon of leadership at state vocational high school "x" bandung based on opinion of 30 teachers year of 2015 leadership role and function opinion yes opinion no school leader is able to formulate a vision and mission in work 6 24 school leader performs a two-way communication with subordinates 5 25 leader always provides guidance and work direction to subordinates 5 25 leader is able to create a spirit of teamwork 7 23 leader accommodates all the aspirations of the subordinate 8 22 the phenomenon of teachers’ performance occurred in state vocational high school "x" bandung based on a preliminary study and the data obtained from school administration division are presented in table 2. table 2 the phenomenon of teachers’ performance at state vocational high school "x" bandung year of 2015 types of work sop target target realisation timely in completing the job 100% 80% creativity in providing teaching materials in the classroom 95% 70% emotional and spiritual intelligence in solving the working problems 95% 75% obedience in complying with the rules of coming to work and going home 95% 60% based on the explanation and data in table 1 and table 2, the problem examined can be formulated. first, it shows how the leadership and teachers’ performance at state vocational high school "x" bandung is. second, whether there is significant relationship between leadership and teachers’ performance at state vocational high school "x". the goal of this research is to find out the relationship between leadership and teachers’ performance at state vocational high school "x" bandung. this research is also conducted to find out whether there is significant relationship between leadership and teachers’ performance at state vocational high school "x" bandung. leadership is defined by sutrisno (2010) as a process of directing and influencing the activities related to the duties of the members of group, whose implications should involve others, subordinates or followers, distribution of power, and the ability to use various forms of power to influence followers through a number way. leaders in an organization has a very important role, not only internally to the organization concerned, but also in dealing with various parties outside the organization, all of which are intended to improve the ability of the organization to achieve its objectives. the role can be categorized into three forms, which are interpersonal, informational, and decision-making. the dimensions of leadership according to sutrisno (2010) consists of: a) ability as a counselor, i.e the ability of a leader to assist or help hr to address the problems it faces in performing tasks assigned to them; b) the ability of an instructor, the ability of a leader to be a wise teacher and makes subordinates increasingly smart and professional in carrying out their duties; c) ability to lead a meeting, ie the ability of a leader to guide and move the right target and useful, by acting as advisors, helping the group come to a decision that can be understood by everyone and accepted by all participants of the meeting; d) ability to take decisions, ie the ability of a leader to take decisions 80 journal the winners, vol. 17 no. 2, september 2016: 77-89 leadership (x): 1. ability to delegate authority; 2. ability as an instructor; 3. ability to lead a work meeting; 4. ability to make decisions. performance (y): 1. work result; 2. knowledge of job; 3. mental dexterity; 4. time discipline and absenteeism. bravely in the event of labor problems; and e) ability to delegate authority, ie the ability of a leader to be able to give it duties and responsibilities to the right people for the tasks and the responsibilities. the dimensions of leadership examined in this research are: (a) ability to delegate authority, consist of indicators like formulation of vision and mission in work clearly, and submission of work instructions to subordinates; (b) ability as an instructor, consists of indicators like two-ways communication to subordinates, performance evaluation of subordinates, and providing guidance and work direction to subordinates; (c) ability to lead a meeting, consists of indicators like being able to set a work plan, being able to create a teamwork spirit, being able to make a job analysis, and being able to accommodate all of the aspirations of subordinates; and (d) ability to make decisions, consists of indicators like making decisions quickly and accurately, understanding the rules with regard to decision-making, and understanding the character of subordinates with regard to decision-making. performance or achievements of work is defined by sutrisno (2010) as a result of the work that has been achieved by someone from its working behavior in performing work activities. information on the high and low job performance of an employee cannot be obtained for granted, but obtained through a long process, namely the employees’ performance appraisal process is called as the term of performance appraisal. the dimensions of performance according to sutrisno (2010) consists of: (a) working result, which is the level of quantity and quality that has been produced and the extent to which surveillance is done; (b) knowledge of job, namely the level of knowledge related to the job duties will directly influence the quantity and quality of work; (c) initiative, which is the level initiatives over performing job task especially in terms of handling the problems arise; (d) mental dexterity, namely the level of ability and speed in receiving work instructions and adjust to the working way and the existing work situations; (e) attitude, namely the level of working spirit and positive attitudes in performing job task; and (f) time discipline and absenteeism, namely the level of punctuality and the level of employees’ presence. the dimensions of performance are examined in this research are: (a) work result, consists of indicators like timely in completing the job, ability to achieve working targets, and thoroughness and seriousness in work; (b) knowledge of job, consists of indicators like working according to the sop, working according to leaders’ instruction, initiative and innovative in performing working task, and creativity in providing the material in class; (c) mental dexterity, consists of indicators like emotional and spiritual intelligence in solving the problems of work, quick response to receive working instructions, and quickly in adapting to the existing work situation; and (d) time discipline and absenteeism, consists of indicators like obedience of obeying the rules of time to work and time to go home, obedience of obeying the rules of presence in the workplace, and obedience of obeying the rules of time to take a break. based on theoretical descriptions above, it can be formulated the framework of research presented in figure 1. independent variable (x) dependent variable (y) figure 1 framework research the relationship between leadership …… (eka sari budihastuti; arif yusuf hamali) 81  based on the research framework in figure 1, the research hypothesis can be formulated as follows: "it is predicated that there is a relationship between leadership and teachers’ performance significantly at state vocational high school "x" bandung." methods the method applied in this research is descriptive and associative research. descriptive research is a research conducted to determine the value of an independent variable, either one or more variables without making comparisons, or connect between one variable with another variable (sugiyono, 2011). associative research is a research that aims to determine the relationship between two or more variables, and build a theory which may serve to explain, to predict, and to control a symptom (sugiyono, 2011). population is the generalization region consisting of the objects/subjects that have certain qualities and characteristics defined by the researchers to be studied and then to be concluded (sugiyono, 2011). population of this research is the employees at state vocational high school "x" bandung approximately 30 people. the sample is part of the number and characteristics possessed by this population (sugiyono, 2011). total population of 30 people which considered affordable by the researcher, then the entire population to be sampled in this research are 30 teachers of state vocational high school "x" bandung. sample collection technique is a sensus technique or a saturated sample because the entire population to be sampled (sugiyono, 2011). data used in this research is primary source data and secondary data. primary data is a collection of data done directly on the analyzed object to obtain the answers from the respondents. secondary data is data obtained from organization, literature, and other information which considered relevant and supporting the research. method used to collect data is closed system questionnaire. it means, for each question has been provided with the answer. questionnaire used in this research is likert scale. the scale is made by gradation from strongly disagree (score = 1) to strongly agree (score = 5). analysis taken in this research is descriptive and associative. descriptive analysis using a weighted analysis, and to find the standard weight value can be done by looking for the length of weight range. the standard weight value can be determined by looking for the length of weight range of five classifications, with the following steps: r (1) r r = 24 description: r = the range of classification the weighting is divided into five levels based on the classification above, started from the lowest to the highest level with the long range above 24. the classification is the standard weight value generated as shown in table 3. 82 journal the winners, vol. 17 no. 2, september 2016: 77-89 table 3 the standard weight value weight value category 30 – 53 worst 54 – 77 worse 78 – 101 enough 102 – 125 good 126 – 150 best analysis associative done to see how the relationship between independent variable (x) and dependent variable (y), in this case the relationship between leadership and teachers’ performance at state vocational high school "x" bandung, by using the formula of rank spearman (sugiyono, 2011) as follows: 1 ∑ (2) where: rs = correlation analysis di = difference of two variable n = sample in this research, the test to the significance of correlation coefficient is not yet done because this research is census. data analysis in this research for the calculations using spss software version 19. the next step is analyzing the correlation to see the relationship between leadership and teachers’ performance by using the analysis of coefficient of determination (cd) with the following formula (riduwan & kuncoro, 2007): cd = r2 x 100% (3) correlation or cohesion of the relation between free variable and bound variable is classified by riduwan and kuncoro (2007) presented in table 4 as follows: table 4 interpretation of correlation coefficient of r value results and discussions the result of validity test on leadership variable (x) and teachers’performance variable (y) statesthat all is valid, based on the criteria if the correlation coefficient or r count > 0,3 (sugiyono, 2011) with a significance level of 5% ( = 5%) and v = n 2 = 30 2 = 28, rvalue= 0,374, the point is coefficient interval level of relation 0,80 – 1,000 very strong 0,60 – 0,799 strong 0,40 – 0,599 strong enough 0,20 – 0,399 weak 0,00 – 0,199 very weak the relationship between leadership …… (eka sari budihastuti; arif yusuf hamali) 83  valid. results of validity test on leadership variable and teachers’ performance variable are shown in table 5 and table 6. table 5 validity test for leadership variable items of question correlation coefficient correlation coefficient  = 5 % description formulation of vision and mission in work clearly (x1) 0,825 0,374 valid submission of work instructions to subordinates (x2) 0,876 0,374 valid two-ways communication to subordinates (x3) 0,726 0,374 valid performance evaluation of subordinates (x4) 0,862 0,374 valid providing guidance and work direction to subordinates (x5) 0,702 0,374 valid being able to set a work plan (x6) 0,765 0,374 valid being able to create a teamwork spirit (x7) 0,699 0,374 valid being able to make a job analysis (x8) 0,518 0,374 valid being able to accommodate all of the aspirations of subordinates (x9) 0,702 0,374 valid making decisions quickly and accurately (x10) 0,876 0,374 valid understanding the rules with regard to decisionmaking (x11) 0,790 0,374 valid understanding the character of subordinates with regard to decision-making (x12) 0,807 0,374 valid tabel 6 validity test for teachers’ performance variable the result of reliability test on leadership variable instrument (x) and teachers performance variable instrument (y) states that all is reliable. results of reliability test on leadership variable and teachers’ performance variable are shown in table 7 and table 8. items of question correlation coefficient correlation coefficient  = 5 % description timely in completing the job (x1) 0,733 0,374 valid ability to achieve working targets (x2) 0,905 0,374 valid thoroughness and seriousness in work (x3) 0,888 0,374 valid working according to the sop (x4) 0,926 0,374 valid working according to leaders’ instruction (x5) 0,870 0,374 valid initiative and innovative in performing working task (x6) 0,896 0,374 valid creativity in providing the material in class (x7) 0,713 0,374 valid emotional and spiritual intelligence in solving the problems of work (x8) 0,632 0,374 valid quick response to receive working instructions (x9) 0,727 0,374 valid quickly in adapting to the existing worksituation (x10) 0,904 0,374 valid obedience of obeying the rules oftime to work and time to go home (x11) 0,911 0,374 valid obedience of obeying the rules of presence in the workplace (x12) 0,841 0,374 valid obedience of obeying the rules of time to take a break (x13) 0,917 0,374 valid quickly in adapting to the existing worksituation (x10) 0,904 0,374 valid 84 journal the winners, vol. 17 no. 2, september 2016: 77-89 table 7 the result of reliability test on leadership variable reliability statistics n of cases = 30,0 cronbach's alpha n of items 0,9329 12 table 8 the result of reliability test on teachers` performance variable reliability statistics n of cases = 30,0 cronbach's alpha n of items 0,9642 13 the result of descriptive average weighting for leadership variable has an average value weight around 101, based on the classification ranges included in the category enough. this result can be concluded that the overall leadership of principal at state vocational high school "x" bandung has been running good enough. however, there are dimensions that have a weight value below the weighted average of leadership variable, namely the dimension of ability to delegate authority on indicator of formulating vision and mission in work clearly; the dimension of ability as an instructor on indicator of two-ways communication to subordinates; and the dimension of ability to lead a work meeting on indicator of being able to create a spirit of teamwork. at the dimension of ability as an instructor, the indicator that has a weight value below the average value of leadership variable is indicator of two-ways communication to subordinates and indicator of providing guidance and work direction to subordinates. this shows that the leader in state vocational high school “x" bandung is considered by respondents not performingthe leadership role and function namely to do two-ways communication to teachers as subordinates. the incumbent leader has also been considered not effective yet in providing guidance and work direction to teachers working in school. on the dimension of ability to lead a work meeting, indicator that has the weight values below the average of leadership variable is indicator of being ableto create a spirit of teamwork indicatorof being able to accommodate all of the subordinate aspiration. this shows that the incumbent leader has not been able yet to create an atmosphere of work by fosteringa spirit of teamwork among teachers’ fellow, and has not been able yet to accommodate all of the aspirations articulated by teachers’ fellow in the event of teachers’ board meeting. the result of average weight description of respondents' opinion about leadership variable at state vocational high school "x" bandung, is shown in table 9. table 9 respondent’s opinion about leadership variable dimension indicator respondents’ opinion weight average weight 5 4 3 2 1 ability to delegate authority  formulating vision and mission in work clearly 2 10 14 4 0 100 101  submission of work instruction to subordinates 3 9 14 4 0 101 the relationship between leadership …… (eka sari budihastuti; arif yusuf hamali) 85  table 9 respondent’s opinion about leadership variable (continued) dimension indicator respondents’ opinion weight average weight 5 4 3 2 1 the result of average weighting description for teachers’ performance variable has a weight value about 100, based on the classification ranges included in category of enough. it can be concluded that the overall of teachers’ performance in state vocational high school "x" bandung is good enough. however, there are dimensions that have a weight value below the weighted average of the teachers’ performance variable, namely the dimensions of working result on indicator of timely in completing the job; dimension of knowledge of job on indicator of creativity in providing the material in class; dimension of mental dexterity on indicator of emotional and spiritual intelligence in solving the problems of work; and dimension of time discipline and absenteeism on indicator of obedience of obeying the rules of time to work and time to go home. the cause of teachers’ performance not being maximal in state vocational high school "x" bandung based on the dimensions that have weight values below the average of teachers’ performance variable is because there is teacher who do not timely in completing work related to the work of teaching and learning, such as delays in giving the student scores. teachers as educators have not empowered yet their emotional and spiritual intelligence too in completing the work related to the teaching and learning activities in schools, as well as in facing the level of work difficulty, there are still teachers that have not borne their creative ideas in work. teachers’ performance has not been maximal yet also demonstrated by obedience of obeying the rules of time to work and time to go home, because there is still discovered the phenomenon of teacher who arrives late to school to carry out teaching duties and also discovered the phenomenon of teacher who leaves work before the time specified by the leader of the school. phenomena of not maximal teachers’ performance in carrying out the task of teaching in state vocational high school “x" bandung is influenced by the leadership role and function that has not been implemented effectively yet by the incumbent head of school, as has been stated above. the result of descriptive average weighting on respondents' opinion about teachers’s performance variable at state vocational high school "x" bandung, is shownin table 10. ability as an instructor  two-ways communication to subordinates 2 8 16 4 0 98 99  evaluating subordinates’ performance 5 10 7 8 0 102  providing guidance and direction in work to subordinates 2 12 7 9 0 97 ability to lead a work meeting  being able to set a working plan 2 15 10 3 0 106 100  being able to create a spirit of teamwork 2 5 18 5 0 94  being able to make a job analysis 2 14 8 6 0 102  being able to accommodate all of the subordinates’ aspirations 2 12 7 9 0 97 ability to make decisions  making decision quickly and accurately 3 9 14 4 0 101 106  understanding the rules relating to the decision-making 3 15 8 4 0 107  understanding the character of the subordinate regarding to the decisionmaking 5 13 9 3 0 110 average 101 86 journal the winners, vol. 17 no. 2, september 2016: 77-89 table 10 respondents’ opinion about teachers’ performance variable dimension indicator respondents’ opinion weight average weight 5 4 3 2 1 working result  timely completing the job 2 5 15 8 0 91 100  the ability to achieve working targets 3 14 9 4 0 106  thoroughness and seriousness in work 2 15 8 5 0 104 knowledge of job  working according to the sop 3 12 10 5 0 103 99  working according to leaders’ instruction 3 9 14 4 0 101  initiative and innovative in carrying out working duties 3 12 11 4 0 104  creativity in providing the material in class 0 9 11 10 0 89 mental dexterity  emotional and spiritual intelligence in solving the problem of work 2 6 17 5 0 95 100  quick response to receive working instructions 3 12 10 5 0 103  quickly adapting to the existing work situation 5 10 8 7 0 103 time discipline and absenteeism obedience of obeying the rules of time to work and time to go home 2 10 13 5 0 99 102 obedience of obeying the rules of presence in the workplace 3 13 9 5 0 104 obedience of obeying the rules of time to break 2 14 9 5 0 103 average 100 the relationship between leadership and teachers’ performance at state vocational high school "x" bandung, can be viewed using spearman rank correlation analysis. the result of correlation analysis by using spss software version 19, with r value = 0,857. from the calculation result of spss software version 19, the result is significant at the significance level  = 5% (sig. (2tailed) = 0,000 less than 5%), which means that there is a significant relationship between leadership andteachers’ performance at state vocational high school "x" bandung. this research does not conduct statistical hypothesis test because of the sample using census techniques or saturated samples. the result of correlation analysis is shown in table 11. tabel 11 correlation analysis next is to find out the relation level, based on the criteria in table 4, with r = 0,857 then this relationship is in very strong connection criteria. from the result of this r = 0,857, then to declare the correlations leadership performance spearman's rank leadership correlation coefficient 1,000 0,857** sig. (2-tailed) . 0,000 n 30 30 performance correlation coefficient 0,857** 1,000 sig. (2-tailed) 0,000 . n 30 30 **. correlation is significant at the 0.01 level (2-tailed). the relationship between leadership …… (eka sari budihastuti; arif yusuf hamali) 87  contribution of leadership variable (x) on teachers’ performance variable (y), determined by the formula of coefficient of determination (cd) is as follows: cd = r2 x 100% = (0,857)2 x 100% = 73,44% based on calculations, with a value of 73,44% it means that this research shows leadership to give effect onteachers’ performance at state vocational high school "x" bandung about 73,44% while the remaining 26,56% is influenced by other factors that are not examined in this research. the significant relationship between leadership and teachers’ performance proves that the existing theories and previous research with the same discussion, and it justifies the research hypothesis that proposed by the researcher namely there is the relationship between leadership and teachers’ performance state vocational high school "x" bandung. based on this research, the better the leadership role and function that run, the better the teachers’ performance as the educator in state vocational high school "x" bandung. conclusions according to the results and discussion, it can be concluded that there is a correlation between leadership and teachers’ performance at state vocational high school "x" bandung significantly with correlation coefficient r = 0,857. based on the criteria of pearson product moment correlation with the value of r = 0,857 then this relationship is in very strong relationship. from coefficient of determination (cd) it is obtained r2 = 0,7344; which means in this research, leadership gives a significant effect on teachers’ performance about 73,44%, while the remaining 26,56% is influenced by other factors that are not examined in this research. suggestions that can be given to the management of state vocational high school "x" bandung as follows: first, the incumbent leader in state vocational high school "x" bandung should continue to enhance the leadership role and function by providing the vision and mission in the form of a clear work program, that can be understood and implemented by teachers to promote the school jointly. second, the incumbent leader should conduct two-ways communication with teachers, and willing to provide guidance and work direction to teachers as subordinates. third, the incumbent leader should also continually strive to create a spirit of teamwork for altogether progress in leading a work meeting event at school. the teachers’ performance at state vocational high school "x" bandung also need to be increased in order to achieve organizational goals. steps that can be done by school leader for improving teachers’ performance are to provide guidance and work direction intensively to teachers in order to timely in completing the job. the incumbent leader should also facilitate the teachers to be participated in the training activities and national seminars, to increase the knowledge of teachers in the field of work, so that teachers can beartheir creativity in providing the material in class and always empower emotional and spiritual intelligence in performing the duty as an educator at school. the supervision of school leader should be further enhanced to grow up teachers’awareness in obeying the rules of time to work and time to go home. considering the result of this research shows that leadership affects teachers’ performance about 73,44% while the remaining 26,56% is affected by other factors not examined in this research, then for the future researchers, they can do a research by adding different free variable (x) like supervision, work discipline, or compensation. 88 journal the winners, vol. 17 no. 2, september 2016: 77-89 references abbas, q., & yaqoob, s. 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(2010). pengaruh kepemimpinan dan motivasi kerja terhadap kinerja pegawai badan kepegawaian dan diklat pemerintah kota batam (masters’s thesis). retrieved from repository.ut.ac.id (tapm ut no. 40381a). yusron. (2010). pengaruh kepemimpinan dan disiplin kerja camat terhadap kinerja pegawai pada kantor kecamatan bukit intan kota pangkalpinang (masters’s thesis). retrieved from repository.ut.ac.id (tapm ut no. 40529). in pr es s *corresponding author p-issn: 1412-1212 e-issn: 2541-2388 153 the winners, 23(2), september 2022, 153-160 doi: 10.21512/tw.v23i2.7897 evaluating the effects of entrepreneurial orientation and managerial skills on small and medium enterprises performance in lagos state nureni sanusi alaka1; obasuyi okogua2* 1,2department of business administration, faculty of management science, lagos state university lasu main rd, ojo 102101, lagos, nigeria 1nureni.alaka@lasu.edu.ng; 2obasuyiok@gmail.com received: 17th november 2021/ revised: 06th june 2022/ accepted: 08th june 2022 how to cite: alaka, n. s. & okogua, o. (2022). evaluating the effects of entrepreneurial orientation and managerial skills on small and medium enterprises performance in lagos state. the winners, 23(2), 153-160. https://doi.org/10.21512/tw.v23i2.7897 abstract the aim of the research was to examine the influence of entrepreneurial orientation and management skills on the performance of small and medium enterprises (smes) in the state of lagos, nigeria. quantitative survey research design was adopted, and multiple regression method of analysis was employed for the research. the population was 11.663 registered smes in lagos state. cochran's sample sizing was used to determine the sample size of 500. from the total of 500 questionnaires distributed, 473 were completed and returned, which corresponded to a response rate of 96,6%. the data collected were analyzed using both descriptive and inferential statistics. the results shows that entrepreneurial orientation practices have a positive and significant effect on profitability (= 0,110, t = 1,904, p<0,05). however, management skills have a positive but not significant influence on the profitability of the selected small and medium enterprises (= 0,030, t = 0,532, p>0,05). the research recommends that operators in this economic sector should look deeply at the variables of the research as essentials for improving business performance. it also put forward that small and medium business owners or managers should not be afraid of taking calculated risks as this would ensure their profitability. keywords: entrepreneurial orientation, firm performance, management skills i. introduction small and medium enterprises (smes) are the backbone of the world economy, accounting for most businesses across nearly every region (runde, savoy, & staguhn, 2021). they also reveal that in developing economies, smes make up 90% of the private sector and create more than half of the jobs in their respective nations. in view of sme global significance, industrialized economies around the world have placed greater emphasis on establishing a dynamic sme sector to achieve a sustainable and stable economy. according to birech, karoney, and alang'o (2018), smes are an important part of the economies of both developed and developing countries. according to scholars (emmanuel, 2017; ngetich & kithae, 2020), smes are an appreciated and significant tool for quick diversification and recovery of the economy. entrepreneurial orientation (eo) as a concept is the process through which a company explores creative entrepreneurial opportunities without regard to the type or number of resources available. eo is a component that helps companies expand by supporting them in identifying new possibilities and gaps that they may exploit through risk-taking, proactiveness, innovative products, and aggressively marketing their products (dzomonda & masocha, 2018). olubiyi et al. (2019) maintain that eo is an essential predictor for a company’s long-term performance and, as a result, contributes to its success. an entrepreneur needs to exhibit four traits to be successful and avoid premature failure: creativity, self-efficacy, internal control point, and achievement motivation (imran et al., 2019). scholars have linked these traits to eo to establish their relationship with sustainability and performance. managerial skills (ms) are one of the necessary impulses that stimulate the success rate of smes firms around the world (asenge & agwa, 2018; abdul 2018; sitharam & hoque, 2016; jayeola, ihinmoyan, & kazeem, 2018). understanding, developing, and utilizing people (resources) and their abilities to meet in pr es s 154 the winners, vol. 23 no. 2 september 2022, 153-160 the company’s goals is the practice of managerial skills. an smes that lacks human resource management abilities may be doomed. to avoid this, emmanuel (2017) opines that entrepreneurship education is required to instil entrepreneurial competencies and abilities in its beneficiaries to orient their thoughts toward self-reliance and self-employment. several references have shown that smes are not only important drivers of employment and prosperity, but also lead the way in promoting entrepreneurship, competition, and innovation that lead to long-term success, growth, and development (fatoki, 2014). pulka (2019) posits that smes performance is the ability to harness, integrate, and utilize various internal and external resources with timely and appropriate reconfiguration to achieve a targeted set of objectives and performance capable of providing employment opportunities, gdp growth, export, and raising society’s standard of living. according to the department of business, energy and industrial strategy, there are 5,7 million smes in the uk business, energy, and industrial strategy (dey et al., 2019). according to ncube and chumucheka (2019), smes operating in the united states are responsible for 99,7% of all business activity in the country. the solid growth pattern established by eu-27 smes in the second half of the previous decade was carried over into 2019. according to muller et al. (2021), with the number of eu-27 smes increasing by 1,5%, their value-added increasing by 3,8%, and their employment increasing by 1,5% smes were a big part of this year’s strong growth. according to the oecd (2020), it is reported in china, more than 98,64% of all firms are small businesses with 300 or fewer employees, contributing to over 60% of total gdp, 50% of tax income, 75% of job creation, and 68% of exports. in 2018, new business creation reached record highs with a total of 67,0 million new companies being created, increasing by 10,4% compared to 2017. the malaysian institute of economic research (mier) indicates that smes comprise 90% of total manufacturing establishments, 29,7% of the employment population, resulting in 20% of total gdp of the economy (“small and medium industries”, n.d.). according to runde et al. (2021) in africa, smes account for over 80% of jobs on the continent, making them a key driver of economic growth. in sub-saharan africa alone, there are 44 million micro, small, and medium-sized businesses, with nearly all of them being tiny. in kenya, smes account for over 40% of total gdp, over 50% of new jobs, and 80% of the total workforce (muriithi, 2017). according to hongyun et al. (2019), smes in ghana alone account for 85% of employment in the manufacturing sector, which has resulted in about 70% of ghana’s gdp, and it is also responsible for their economic development. in nigeria according to pwc (2020), smes account for 96% of the total number of businesses in the country and contribute about 50% to the national gdp. in terms of ownership structure, 73% of msmes are sole proprietorships while 14% are private limited liability companies. the balance of 13% is partnerships (6%), faith-based organizations (5%), cooperatives (1%), and others (1%). on the world stage, small and medium enterprises (smes) play an enviable role in economic development and growth, job creation, and poverty alleviation. smes in malaysia account for 90% of total manufacturing operations, 29,7% of the employee population, and 20% of the total gdp (“small and medium industries”, n.d.). similarly, dey et al. (2018) and olubiyi et al. (2019) find that dеѕрitе smes’ реrfоrmаnсе in nigeria and the bleeding that came with it, sоmе соmраnies еxреriеnсеd suboptimal реrfоrmаnсе сhаrасterised by low mаrkеt shаrе, poor sаlе grоwth, аnd poor рrоfitаbilitу of sоmе smes. unfortunately, the current challenges are establishing a precedent for a high rate of closure of some smes, particularly in developing countries without jeopardizing profits. kowo, adenuga, and sabitu (2019) hаvе thе viеw оf оthеr sсhоlаrs thаt in nigеriа small and medium enterprises generate more employment opportunities on the aggregate than giant industries. the scholars allude that many people in this country depend on self-employment for sustenance. many others including their relations are employed in the enterprises directly and indirectly. in the face of thе ѕtаtеd contributions оf smeѕ to the nigerian economy, they hаvе nоt lived up to thе anticipated dуnаmiс rоlе in the miсrоесоnоmiс grоwth and dеvеlорmеnt of the country’s economy. according to arоyeun et al. (2019), it can be attributed to the changing environment of smes in nigeria, as well as poor technological development and lack оf entrepreneurship orientation аnd management skills which hаs compromised thе stability of itѕ expected реrfоrmаnсе. bесаuѕе of the persistent failure rate, high ореrаting соѕtѕ (which largely еmbоdу оthеr рrоblеmѕ), many of thеѕе firms аrе finding it inсrеаѕinglу diffiсult to соmреtе with lаrgе local firms аnd the influx оf cheap imроrtеd products frоm china аnd оthеr аdvаnсеd соuntriеѕ. considering past related studies, no known studies to the best of researcher’s knowledge have empirically focused on the combined effect of entrepreneurial orientation (eo), and managerial skills on smes’ performance among computer and allied products in ikeja, lagos state. it serves as the novelty and uniqueness of the research. thus, the research examines the combined effect of entrepreneurial orientation (eo), and managerial skills, on smes' performance in lagos state. the hypotheses formulated are based on the objectives and research questions. h1: entrepreneurial orientation and managerial skills have no combined significant effects on smes performance proxied with profitability of smes in lagos state, nigeria miller (1983) and covin, green, and slevin (2006) create the concept of entrepreneurial in pr es s 155evaluating the effects of entrepreneurial .... (nureni sanusi alaka; obasuyi okogua) orientation, which is based on the three dimensions of innovation, proactivity, and risk-taking. as a result, these dimensions work as a cohesive whole to provide a company with the strategic direction it requires for success, and it should be viewed as a onedimensional measure in entrepreneurship research. hussain, ismail, and akhtar (2015) posit that eo has become over the last two decades, the concept has become increasingly important in the global arena of and entrepreneurship literature. neneh and van zyl (2017), eo is a strategic process, practices, and decisions that decision-makers use to formulate the organizational purpose and directions of the company, as well as to maintain its vision and archive a sustainable competitive advantage. adegbuyi et al. (2018) posit strongly that entrepreneurial orientation is not negotiable for smes that want to prosper in a competitive business environment. similarly, jemal (2020) argues that entrepreneurship is the practice of establishing one’s own business that makes it different from other types of economic activity based on identifying opportunities. in addition, fatoki (2019) opines that eo is a predetermined decision-making stimulus that encourages entrepreneurial activity. thus, eo is the process by which an organization pursues innovative entrepreneurial opportunities without being constrained by the type and quantity of available resources. the role of entrepreneurs in today's society cannot be ignored as they are responsible for all organizational success. therefore, eo provides a strong basis for business firms to act and perform more entrepreneurially, followed by strategy-oriented actions and decisions (hossain, & asheq, 2019). well-implemented managerial skills should identify the skills required for the job roles, the skills of individual employees, and any gap between the two. in light of the findings, bushe (2019) affirms that a company also thrives on human skills to operate these devices. according to mbugua and mbugua (2019), a successful manager understands his environment, both internal and external. he or she does not only understand but is prepared, equipped, and ready to handle any turbulence that emanates from the environment. a lack of human resource management skills can be doomed for a small business. to increase the entrepreneurial capacity, the federal government of nigeria, has made most tertiary institutions in recent times to have incorporated entrepreneurship education into their curricula as a means to stimulate self-reliance and self-employment in the society. in developing countries, poor management skills have a significant impact on the performance of smes. entrepreneurs must be experienced, knowledgeable, and highly motivated to run small and medium businesses. small and medium businesses should prioritize human capital management and relationship skills, as management skills are a prerequisite for relationship quality and competitive advantage. however, asenge and agwa (2018) observe that entrepreneurial competencies or skills implicitly require that entrepreneurs differ from non-entrepreneurs in terms of their competencies. the skills and characteristics of entrepreneurs are called entrepreneurship competencies. another view of management skills that are critical for smes involve: 1) planning skills to allocate resources and develop alternatives, 2) organizing skills for creating structures, coordinating parts, shunting delegations, and controlling conflicts and changes in an organization, 3) the spearhead of expertise in implementing decisions, creating enabling environment, shaping routes and training of staff, 4) skill control for setting levels, evaluating performance, taking action when there is need, and encouraging selfmastery (olowu & aliyu, 2015). management skill is therefore the process of recognizing and organizing the sluggish ability of an individual to lead to success in any undertaking through effective and efficient use of all available resources. the research is primarily based on porter's generic competitive advantage theory, with a particular emphasis on the third part of his competitive advantage strategies, as well as the focus strategy. the theory shows that porters' focus strategy has several key advantages over the market strategy that would make companies adopt such a strategy to be more efficacious in product promotion efforts. accordingly, compared to a mass-market strategy, a focused company does not have to concentrate significant resources to offer all people everything that costs less time and money. interestingly, it has been empirically proven that customers value specialized firms because of their focused skills. after all, a focused company is less likely to be overwhelmed by numerous customer inquiries and is more likely to recognize and adapt to market changes in a quick time manner. porter (1985) notes that companies pursuing a focusing strategy should offer either a differentiated product or service for the segment and an inexpensive product or service to the selected segment. he stresses that a combination of the two was not achievable, and he refers to companies that have such a combination as being stuck in the middle. it is a situation where firms are unwilling and unable to make strategic decisions that allow them to muster enough resources to compete by whatever means and thus prevent them from gaining any competitive advantage or advantage lead above-average performance. consequently, porter’s perception of competitive advantage as the only possible one with a clear focus on segments, followed by a clear cost or differentiation strategy, while the last one is easier to achieve in his opinion. michael porter’s focus strategy has been developed or moved into the spotlight at a time when companies were facing increasing competition. several empirical studies have been carried out by various scientists to determine the relationship between eo and business performance. kurа, abubаkаr and salleh (2019) еxаminе the role оf соmреtitivе intеnѕitу in mоdеrаting the rеlаtiоnѕhiрѕ bеtwееn еntrерrеnеurѕhiр, tоtаl quality mаnаgеmеnt, and smes реrfоrmаnсе in kano state. they used a sample of 714 ѕеlf-аdminiѕtеrеd ԛuеѕtiоnnаirеѕ to in pr es s 156 the winners, vol. 23 no. 2 september 2022, 153-160 owner mаnаgеrѕ of smeѕ in kаnо аnd kaduna in thе north west gеороlitiсаl zоnе оf nigeria. pаrtiаl least squares structural eԛuаtiоn mоdеling iѕ used to tеѕt thе hypotheses (pls-sem). the results showed a positive and significant relationship with the profitability of smes. ibrahim and muѕtарhа (2019) examine thе fасtоrѕ influеnсing smes реrfоrmаnсе in nigеriа. thе research use structured questionnaires tо соllесt dаtа frоm 240 smeѕ in nоrth eаѕtеrn nigеriа. thе rеѕultѕ reveals a positive and ѕignifiсаnt rеlаtiоnѕhiр bеtwееn entrepreneurial orientation and smeѕ performance. aroyeun et al. (2019) conduct research to examine the relationship between entrepreneurial orientation and the performance of smes, using a descriptive research design to obtain data from registered smes in nigeria recorded by the corporate affairs commission. the information is obtained through the distribution of a structured questionnaire to 436 sme owner-managers. to test the hypothesis, the research uses the structural equation modeling of amos 22. the statistical analysis results show that all dimensions of entrepreneurial orientation, such as business opportunities, including innovation, dynamic operations, and value creation activities have a significant influence. abdul (2018), on the management skills and growth of small and medium enterprises (smes), did a comparative analysis of nigerian and minority entrepreneurs in the uk using an online survey to bring in data from a population of 38 smes owners in nigeria and uk. due the short time, the research uses judgment samples to examine their experiences, values, and attitudes about entrepreneurial skills. the results show that management skills have a major impact on the performance of smes in nigeria and the uk. similarly, mbugua and mbugua (2019) examine the role of business management on the growth of micro and small enterprises (mses). a case of textile enterprises in eldoret town−kenya. the result shows that management skills have a positive and significant impact on the performance of smes. lawal, worlu, and ayoade (2016) examine the factors that influence the extent to which smes can operate sustainably. in exploring theories that underpin entrepreneurship and drivers of sustainable entrepreneurship among smes, the research used secondary data. the results show that management skills have a positive impact on the performance of smes. ngetich and kithae (2020) conduct research on access to business information, business finance, managerial skills, and performance of smes in kenya. the research seeks to establish factors affecting the performance of smes, and the result shows that managerial skills significantly impact the performance of smes. in addition, eton et al. (2017) aim to determine the role played by entrepreneurial skills with regards to the performance of smes in uganda's nebbi district which lies in the west nile region. the research uses simple sampling techniques, with a sample size of 106 people selected for the survey using a questionnaire. according to the result, there is a moderate correlation between entrepreneurial skills and the performance of smes. syed, muzaffar, and minaa (2017) examine the three dimensions of entrepreneurial orientation (eo) of manufacturing sector smes in punjab, pakistan. the effects of three eo dimensions including innovativeness, proactiveness, and risk-taking are analyzed. they finally report significance and positive relationship with smes performance. ii. methods the research adopts quantitative survey research design and employs multiple regression method of analysis. the adoption of this design is influenced by the research problem and its corresponding research questions. the pool of smes operators contacted was computer and allied product dealers in ikeja lagos metropolis, lagos state. 500 smes representing the sample size are deduced using cochran sample size determinant. simple random sampling technique is used for questionnaire distribution. the questionnaire is the main instrument used in collecting data, which is self-administered. it is divided into section a and section b. section a consists of demographicrelated questions of the selected smes and their operators, while section b deals with the research construct. a total of four hundred and seventy-three (473) questionnaires are retrieved and found useful, representing a response rate of 94,6%. all statements are measured on a 5-point likert scale, ranging from strongly agree (5) to strongly disagree (1). the operational model for the research variables is denoted in the equations: y = f(x) where: y = dependent variable x = independent variable y = firm performance (fp) y = (y1) where: y1= firm profitability (fpr) x = (x1, x2) where: x1= entrepreneurial orientation (eo) x2= management skills (ms) where: the models formulated for each of the hypothesis are written as: y1 = f(x1, x2) y1 = β0 + β1x1+ β2x2+ εi fpr = β0 + β1eoi+ β2msi +εi---------------------------i β0= constant of the equation or constant term β1-β2= parameters to be estimated εi = error or stochastic term in pr es s 157evaluating the effects of entrepreneurial .... (nureni sanusi alaka; obasuyi okogua) the hypotheses formulated are tested using the multiple regression analysis. the results are presented in table 1. table 1 establishes the convergent validity of the instrument using the average variance extracted (ave) with a threshold of 0,5. composite reliability calculator by raykov (1997) was used for the computation for the composite reliability estimate based on standardized factor loading and error variance. table 1 reveals (cr) to be between 0,850 and 0,905 above the threshold of 0,7. therefore, evidence exist to show that the instruments have the ability to measure the latent construct they are related to and the extracted instruments are also found to be internally consistent with the latent loaded variables in the research. iii. results and discussions table 2 presents the multiple regression results for the influence of entrepreneurial orientation, managerial skill on the profitability of the smes in lagos, nigeria. the results reveal that entrepreneurial orientation (β = 0,110, t = 1,904, p = 0,000<0,05) has positive and significant effects on the profitability of the smes in lagos state, nigeria. however, management skills (= 0,030, t = 0,532, p = 0,595>0,05) are reported to have a positive but insignificant effect on the performance of the selected smes. it implies that entrepreneurial orientation is an essential predictor for the profitability of the selected small and medium enterprises in the study area. the results further show that the independent variable (entrepreneurial orientation, management skill) explains 45,6% of the changes or fluctuations in the profitability of the selected smes in the state of lagos, nigeria. (adj. r2 = 0,456). however, the representation does not expound for the 54,4% of the variability in the profitability of smes, which means that other factors related to the profitability of the selected smes in lagos state are not captured in the model. adjusted r-squared is slightly lower than r-squared, implying that the regression model may have been over fitted by including too many independent variables. it indicates that the set of independent variables are important factors that needed improvement to improve the profitability of the selected smes in the study area. furthermore, the analysis of variance (anova) results in for regression coefficient, which are used to test the significance of the overall regression model, showed an f-ratio of 96,151 with a р-value of 0,000 that is less than 0,05 [f (4,450) = 96,151, p = 0,000]. it shows that the overall model is significant in predicting the effect of independent variables on profitability of the selected smes. this means that at least one of the independent variables has an effect on the profitability of the selected small and medium business enterprises in lagos state. in addition, the regression model used to predict the profitability of the selected food and beverage manufacturers in lagos state, the independent variable that is ѕtаtiѕtiсаllу significant, was rеtаinеd in thе mоdеl, while vаriаblе (ѕ) thаt are nоt ѕtаtiѕtiсаllу significant wеrе еxсludеd (hаѕ nо рrеdiсtivе power). thе multiрlе rеgrеѕѕiоn equation from thе rеѕultѕ is thus еxрrеѕѕеd аѕ: fpr = 5,502 + 0,110eo+ 0,198ms where: fpr = profitability ms = managerial skill eo = entrepreneurial orientation from the regression equation above, it was found that the entrepreneurial orientation, table 1 test for validity and reliability variables initial range of extracted values (k) range of extracted values squared (k2) ave cr entrepreneurial orientation 1,000 0,689-0,941 0,474-0,885 0,639 0,898 managerial skills 1,000 0,575-0,964 0,331-0,929 0,661 0,905 profitability 1,000 0,588-0,862 0,346-0,743 0,537 0,850 source: researcher’s survey 2021 table 2 summary of regression analysis of entrepreneurial orientation, managerial skills, and profitability model b t sig. f(4,450) r2 adj. r2 f(sig) (constant) 5,502 4,664 0,000 96,151 0,461 0,456 0,000 entrepreneurial orientation 0,110 1,904 0,057 managerial skill 0,030 0,532 0,595 a. dependent variable: profitability source: researcher’s survey 2021 in pr es s 158 the winners, vol. 23 no. 2 september 2022, 153-160 management skills will be constant (at zero) and the profitability of the selected smes will be 5,502. the results show that entrepreneurship (= 0,110, t = 1,904, p = 0,000<0,05) was the most significant predictor (among the independent variables) of the profitability of the selected small and medium enterprises. entrepreneurial orientation has a positive and important impact on the growth of smes (kura, abubakar, & salleh, 2019; ibrahim & mustapha, 2019; aroyeun et al., 2019; bamfo & kraa, 2019). in addition, sitharam and hoque (2016), bushe (2019), hanggraeni et al. (2019) find a significant relationship between entrepreneurial orientation and its dimensions for smes success in their studies. the results for managerial skills are consistent with abdul (2018), lawal et al. (2016), mbugua and mbugua (2019), and jayeola et al. (2018) who accept that managerial ability has a major impact on smes growth and efficiency. iv. conclusions the evaluation of the effect of entrepreneurial orientation and managerial skills on the performance of smes in lagos state is examined. according to the findings, entrepreneurial orientation and managerial ability have a major impact on the success of smes in lagos state, nigeria. entrepreneurial orientations and managerial skills are critical for success. based on the results, the research makes a number of recommendations for various parties involved in the improvement of smes in lagos state, as well as nigeria as a whole. entrepreneurial orientation and managerial skills, according to the research, are a requirement for improving business performance in this field. the research contribution in the area of performance measurement therefore lies in its ability to adopt balanced measures of business performance by including a more recent, intangible and externally focused measure (eo and ms). the current research involves ikeja division of the five divisions (ikeja, badagry, ikorodu, lagos island, and epe) of lagos state. therefore, the results are not the overall description of smes in lagos state. the research has limitations in terms of number of the respondents, so it is recommended for future research to conduct a similar study in different countries or regions before attempting to a more general result. future studies could take into account other performance-determining factors, new markets, and a broader scope by extending the research to other nigerian states. acknowledgement the authors wish to state that there is no conflict of interest whatsoever. the project was self-funded and never received in fund support from any individual, group of individuals, companies or any government agencies while the research lasted. references abdul o. e. 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(2017). entrepreneurial orientation and business performance of manufacturing sector small and medium scale enterprises of punjab pakistan, european business & management, 3(2), 21-28. https://doi.org/10.11648/j. ebm.20170302.12 the effect of intellectual …… (ichsan setiyo budi; rahmawati) `95 the effect of intellectual capital and islamic corporate governance on islamic social reporting disclosure with financial performance mediation ichsan setiyo budi1; rahmawati2 1accounting department, economics and business faculty, pembangunan nasional "veteran" university jl. ringroad utara 102, condongcatur, yogyakarta 55283, indonesia 2accounting department, economics and business faculty, sebelas maret university jl. ir. sutami 36-a, kentingan, surakarta 57126, indonesia 1iesbe2011@gmail.com; 2rahmaw2005@yahoo.com abstract this research aimed to examine the indirect effect of islamic corporate governance (icg) disclosure and intellectual capital (ic) on islamic social reporting (isr) disclosure with financial performance as a mediating variable in islamic banking in indonesia. it used secondary data with annual report data sources and financial statements on islamic banking in indonesia. they were testing this research using regression analysis with data for the annual reporting period of 2011 through 2014. the result finds that roe mediates the effect of icg on isr disclosure. this shows that good management of islamic banks will produce high financial performance so that they are able to carry out their social roles well too. the contribution of this research is to develop a new model of the role of financial performance mediating the effect of icg disclosure on isr so that it is beneficial for the development of science. keywords: islamic corporate governance, intellectual capital, islamic social reporting, financial performance introduction the concern of islamic banks for the social environment has changed the direction of the business and changed the image of the bank. in indonesia, it is emphasized that islamic banks, in addition to commercial functions, it must also socially function (law of republic of indonesia year 2008 number 21 about syaria banking). corporate social responsibility (csr) is an idea that makes islamic banks no longer faced with responsibility that rests on a single bottom line, namely corporate value that is reflected in financial conditions, but also must be based on a triple bottom lines that also pay attention to social and environmental responsibility (elkington & rowlands, 1999). in terms of reporting social responsibility through the presentation of accounting information, haniffa and hudaib (2007) have formulated csr disclosure standards specifically for islamic banks. the standard derives from islamic values and is adjusted to the regulations set by the accounting and auditing organization for islamic financial institutions (aaoifi). haniffa (2002) has argued that reporting social responsibility can be seen as a response of the company to meet the expectations of the community, for islamic institutions such as social responsibility reporting islamic banking which is expanded by incorporating a spiritual perspective called islamic social reporting (isr) (haniffa, 2002). regarding the concept of value in isr, haniffa (2002) has explained that islam wants to harmonize economic and spiritual activities in running a business. islam has three interconnected dimensions, namely seeking the blessing of allah swt as the main goal in building socio-economic justice, providing benefits to society, and achieving prosperity together. isr carried out by islamic banks is basically a form of responsibility to stakeholders, while the responsibility to stakeholders in mailto:iesbe2011@gmail.com 96 journal the winners, vol. 20 no. 2, september 2019: 95-109 accordance with an islamic perspective is a responsibility that aims to protect the rights and interests of all stakeholders as a whole (iqbal & mirakhor, 2004). according to dusuki (2011), the responsibility to stakeholders within the islamic framework aims to balance and harmonize the interests of various groups of stakeholders, based on moral principles, ethics, social responsibility, general interests, namely avoidance of damage and poverty and the principle of obedience to god’s commands. the main theories that influence the development of corporate governance are agency theory, which is primarily concerned with the relationship between managers and shareholders, and stakeholder theory that takes into account broader environmental groups of constituents (mallin, 2007). here the correlation between corporate governance and the broader group is seen, namely the social environment of the company. it states that islam encourages good corporate governance in the company because, in islam, the concept of corporate governance aims to protect the interests of all stakeholders by adhering to sharia principles that are called islamic corporate governance (icg). as a corporate governance framework, icg is the most important practice of islamic finance in building the trust of shareholders with the assurance that all transactions, practices, and activities are in accordance with sharia principles, so that this implementation will color the implementation of corporate social responsibility (choudhury & hoque, 2004; iqbal & mirakhor, 2004; musibah & alfattani, 2014). islamic banks are considered to have a reliable icg model with a very high level of accountability in order to protect and safeguard the rights and interests of stakeholders (sairally, 2013). icg values such as responsibility, transparency, independence, justice, discipline, professional, caring are values that have been integrated with islamic morals and a muslim in their activities (dusuki, 2011). these icg values are highly upheld in islam; their implementation can be known through disclosure (abu-tapanjeh, 2009). thus in the management of islamic banks, it is expected to disclose their icg features to stakeholders, thus enabling stakeholders to assess how banks are managed and investments managed according to sharia (darmadi, 2013). the existence of icg disclosure is useful to measure the extent to which conformity to sharia values and the impact resulting from the governance of islamic banks towards the commitment of social responsibility (musibah & alfattani, 2014). the benefits of the company depend on the knowledge of the company and the best way and effective use of knowledge. effective use of knowledge is directed at the company’s interests in the company’s long-term or going concern. this knowledge is one component of the intellectual capital (ic) owned by the company. strong evidence that companies that focus on increasing ic have got good results for shareholders and competitive advantage (proctor, burton, & pierce, 2006). the use of intellectual capital to build company value will provide benefits to stakeholders, including the embodiment of the social mission that is the obligation of islamic banks. how far the company is able to utilize intellectual capital for its social mission will be reflected in the disclosure of its social responsibility. according to kamath (2007), the banking sector is the ideal company for research of intellectual capital because: (1) there is reliable data in the form of financial statements, (2) the nature of the banking sector business is intellectually intensive, and all its employees are more homogeneous than other economic sectors. this research is conducted based on stakeholder theory, which then developed into stakeholder theory from an islamic perspective. freeman (1984) has defined the stakeholder as groups or individuals who may influence, or be influenced by the achievement of organizational goals. gomes (2006) has argued that the theory of stakeholder is first introduced in management theory as an answer to dissatisfaction over the criteria of financial effectiveness unilaterally. a mainstay of stakeholder theory is that organizational effectiveness that is measured by its ability to satisfy all those with interest in it. stakeholder theory from a conventional perspective still has deficiencies that are considered fundamental, ie, have not included spiritual elements, that is, the relationship of man with god (chapra & ahmed, 2002). stakeholder in islam is the party that has the right to the risks of a corporate action either voluntarily or not so that stakeholders, not just the relation explicitly in the contract or transaction, the effect of intellectual …… (ichsan setiyo budi; rahmawati) `97 but also implicitly have relevance to the activities of the companies (iqbal and mirakhor, 2004). based on this theory, islamic banks carry out social responsibility to fulfill their social functions. other theories based on resource-based theory, according to this theory, effective and efficient use of human resources will lead to improved financial performance is consistent with most studies that use the vaictm model as a primary measure of intellectual capital (kamath, 2007). based on the resource-based theory, companies rely on heterogeneous sets of resources and perfect capabilities. these resources carry important physical assets such as financial matters, property, factories, company equipment and raw materials, and intangible assets, which include the company’s reputation, work environment, and human resources. nevertheless, as resources and abilities become valuable, rare, and irreplaceable; they can bring a competitive advantage that will create companies that have good financial performance. with good financial performance, the company is able to carry out social responsibility well. islamic banks, besides functioning commercially but also have social functions. however, the results of empirical research at home and abroad have found inconsistent results. the results of the research have found that islamic banks carry out their social functions (aburaya, 2012; beltratti, 2005; adiertanto & chariri, 2013; giannarakis, 2014; habbash, 2016; khan, 2012; musibah & alfattani, 2014; othman, thani, & ghani, 2009). the results of the research have found that islamic banks do not pay attention to their social functions (aggarwal & yousef, 2007; farook & lanis, 2007; hassan & harahap, 2010; khoirudin, 2013; maali, casson, & napier, 2006; othman & thani, 2010; raman & bukair, 2013). this research reaffirms the inconsistency of these results by developing a new model, namely the indirect influence of icg and ic on isr, by including financial performance as a mediating variable. the contribution of this research is to develop a new model and to test the model whether financial performance mediates the effect of icg and ic on isr so that it is beneficial for the development of science in accounting and stakeholder theory in islamic concepts. methods the population of this research is islamic banking in indonesia. according to law about syaria banking, the year 2008 number 21, article 1 paragraph 1: islamic banking consists of islamic banks and sharia business units (law of the republic of indonesia year 2008 number 21 about syaria banking, 2008). whereas article 1 paragraph 7 states that islamic banks consist of sharia commercial banks and sharia people’s financing banks. according to 2015, sharia banking statistics issued by bi, the number of sharia business units are 22, sharia commercial banks are10, and sharia people’s financing banks are 165. from this data, it can be seen that the number of islamic banks in indonesia up to 2015 is 199; thus, the population of this research is 199. the sampling technique in this research is convenience sampling. convenience sampling is the collection of information from members of the population that are fully available in accordance with the needs of the research (sekaran & bougie, 2016). from the existing population, only sharia commercial banks provide complete and easy information to obtain it through their websites, so that the sample of this research is ten banks. the ten banks are; bank syariah mandiri, bank bni syariah, bri syariah, bank muamalat indonesia, bca syariah, bank mega syariah, bank bukopin syariah, bank jabar dan banten syariah, panin syariah bank, and maybank syariah. the data sources are the annual report, financial reports, and gcg reports issued by each sharia commercial bank in indonesia from 2011 to 2014. thus a sample of 40 observations can be obtained, and the data can be obtained on the websites of each bank. data collection methods used in this research is content analysis. the purpose of content analysis is to identify the characteristics or specific information contained in a document to produce an objective and systematic description (sekaran & bougie, 2016). 98 journal the winners, vol. 20 no. 2, september 2019: 95-109 the dependent variable of this research is the level of isr disclosure measured using the islamic social reporting (isr) index compiled by hassan and harahap (2010), which consists of 78 disclosure items that are adjusted to aaoifi guidelines. the isr index classifies its indicators into eight disclosure themes, namely: (1) ethical behavior, stakeholder engagement, and customer relations, (2) corporate governance board of directors and top management (cg-bd & tm), (3) sharia-compliant corporate governance ssb, (4) product, services, and fair dealing with supply chain (ps & fdsc), (5) environment, (6) employees, (7) strategic social development, and (8) research, development, and training. further assessment is done using scoring where: (a) value 0 if there is no related disclosure of the item. (b) value 1 if there is a disclosure related to the item, if all items have been disclosed, then the maximum value that can be reached is 78. the independent variables of this research are islamic corporate governance and intellectual capital. islamic corporate governance, based on previous research (darmadi, 2013), this research uses the icg index of islamic banking disclosure in indonesia. the icg disclosure index is calculated by the presence of disclosures for each icg mechanism grouped into seven dimensions, namely: (1) sharia supervisory board (ssb), (2) board of commissioners, (3) board of directors, (4) board of committees, (5) internal control and external auditing, (6) risk management, and (7) reporting on cg implementation. overall it consists of 72 items of disclosure, and then scoring is done as done on the dependent variable. intellectual capital is the performance of intellectual capital as measured by the value-added created by value added capital employee (vaca), value added human capital (vahu), and structural capital value added (stva). the combination of the three added values is symbolized by the name vaictm developed by (pulic, 2000). value added (va) is calculated as the difference between output and input. value added capital employed (vaca) is an indicator of the value-added created by a unit of physical capital. this ratio shows the contribution of each unit capital employee to the organization’s valueadded. value added human capital (vahu) shows how much value-added can be generated with funds spent on labor. structural capital value added (stva) measures the amount of structural capital needed to produce value-added and is an indication of structural capital’s success in value creation. value added intellectual capital coefficient (vaictm) is the sum of the three previous components, namely: vaca, vahu, and stva. financial performance: roa, roe are a mediating variable to measure bank performance in terms of profitability. previous researches of this ratio are to analyze the financial performance of banks or other types of companies. roa is the net profit/amount of assets, while roe is net profit/amount of equity (azid, asutay, & burki, 2007). results and discussions the following are the results of descriptive statistics explaining the number of respondents, the minimum and maximum answers, the average value, the deviation value of the respondent’s answer, and the value of the coefficient of variance. table 1 descriptive statistics test results n min max mean std. deviation variance isrdi 40 0,5666 0,8846 0,7536 0,0808 0,007 icgdi 40 0,7778 0,9723 0,9032 0,0459 0,002 roa 40 0,0017 0,0381 0,0170 0,0096 0,000 roe 40 0,0229 0,3313 0,1187 0,0915 0,008 vaic 40 1,3248 4,6140 2,3717 0,8750 0,766 valid n (listwise) 40 source: data processed the effect of intellectual …… (ichsan setiyo budi; rahmawati) `99 table 1 explains that the isrdi variable with a minimum value of the isr disclosure index is 0,5666, and a maximum is 0,8846. the average isr disclosure index is 0,7536, with a standard deviation of 0,0808; this indicates that the isr disclosure index value does not experience deviations that are far from the average range. this is supported by the variance coefficient value for the isrd variable of 0,007, which indicates that the variation in the value of the isr disclosure index in islamic banking in indonesia is almost the same. icgdi variable with a minimum value of icg disclosure index of 0,7778 and a maximum of 0,9723. the average icg disclosure index is 0,9032, with a standard deviation of 0,0459 that indicates the icg disclosure index value does not experience deviations far from the average range. this is supported by the variance coefficient value for the icgdi variable of 0,002, which indicates that the variation in the icg disclosure index value for islamic banking in indonesia is almost the same. roe variable with a minimum value is 0,0229 or 2,3% and a maximum is 0,3313 or 33,1%. the average roe value in islamic banking in indonesia is 0,1187, with a standard deviation of 0,0915. this indicates that the roe value does not experience a deviation that is far from the average range. this is supported by the variance coefficient value for the roe variable of 0,008, which indicates that the variation in the value of roa in islamic banking in indonesia is almost the same. variable roa with a minimum value is 0,0017 or 0,1% and a maximum of 0,0381 or 3,8%. the average roa value in islamic banking in indonesia is 0,0170, with a standard deviation of 0,0096 that indicates the value of roa does not experience deviations that are far from the average range. this is supported by the variance coefficient value for the roa variable of 0,000, which indicates that variations in the value of roa in islamic banking in indonesia are the same. vaic variable with a minimum value is 1,3248 or 13,2% and a maximum is 4,6140 or 46,1%. the average vaic value in islamic banking in indonesia is 2,3717, with a standard deviation of 0,8750, indicating that vaic values do not experience deviations far from the average range. this is supported by the value of the coefficient of variance for the vaic variable of 0,776, which indicates that the variation in the value of vaic in islamic banking in indonesia is almost the same. table 2 summary of testing h1 isrdi= a0 + a1(icgdi)1it + eit description result sign coeff. icgdi 0,995717 0,0000 t-stat 6,167683 adjusted r2 0,487114 source: data processed table 2 concludes the results that statistically at the significance level of 5% icg disclosure has an effect on isr disclosure with a determination coefficient of 0,487114, which means that the independent variable of icg disclosure is able to explain the dependent variable of isr disclosure of 48,7% and with a positive coefficient of 0,995717, the result statistically h1 is accepted. these results are consistent with previous researches by adiertanto and chariri (2013); giannarakis, 2014; habbash, 2016; khan, 2012; maali, casson, and napier (2006); musibah and alfattani (2014); othman, thani, and ghani (2009). the large icg disclosure index illustrates the implementation of good corporate governance principles in each icg structure in islamic banking in indonesia. this means that each icg structure on islamic banks consisting of ssb, board of commissioners and board of directors, board committee, internal control and external audit, risk management, and reporting on cg implementation in operation holds the principles of transparency, accountability, responsibility, independence and fairness, and equality. these principles are also applied by management in carrying out their social functions. such conditions will color the islamic bank isr so that the annual report as a media reporting by islamic banking in indonesia to many stakeholders 100 journal the winners, vol. 20 no. 2, september 2019: 95-109 provides reports of social activities that have been carried out in accordance with islamic regulations and values. the summary of the results of the hypothesis testing of the influence of intellectual capital on the isr disclosure index can be seen in table 3. table 3 summary of testing h2 isrdi= b0 + b1(vaictm)1it + eit description result sign coeff. vaictm -0,038505 0,0074 t-stat -2,829006 adjusted r2 0,152234 source: data processed table 3 summarizes the results that statistically, at the 5% ic significance level, negatively affect the isr disclosure index. the results are statistically rejected by h2, which states that there is a positive effect of ic on isr disclosure. a negative coefficient value, which means the two variables are negatively related. while testing the h2 hypothesis is statistically rejected. this illustrates that islamic banking in indonesia shows that the skills and knowledge of human resources to build a competitive advantage for islamic banks in indonesia but has not been focused on the sharia bank social program. another interpretation is to show that the structural capital of islamic banks in indonesia, which includes organizational structures, systems, procedures, culture, databases, and others, is focused on corporate social responsibility programs. the summary of the results of testing the hypothesis of the effect of icg disclosure on the financial performance of roa can be seen in table 4. table 4 summary of testing h3a roa = c0 + c1(icgdi)1it + eit description result sign coeff. icgdi -0,070256 0,0337 t-stat -2,203067 adjusted r2 0,089923 source: data processed table 4 concludes the results that statistically, at the significance level of 5%, icg has a negative effect on roa financial performance. the results are statistically rejected h3, which states that there is a positive effect of icg on the financial performance of roa. a negative coefficient value, which means the two variables are negatively related. the summary of the results of testing the hypothesis of the effect of icg disclosure on roe financial performance can be seen in table 5. table 5 concludes the results that statistically, at the significance level of 5%, icg disclosure has a positive effect on roe financial performance with a determination coefficient of 0,164763. it means that the independent variable icg disclosure is able to explain the dependent variable financial performance roe of 16,47% and positive coefficient 0,861062, results the statistics are h3b accepted. the effect of intellectual …… (ichsan setiyo budi; rahmawati) `101 table 5 summary of testing h3b roe = d0 + d1 (icgdi)1it + eit description result sign coeff. icgdi 0,861062 0,0054 t-stat 2,948444 adjusted r2 0,164763 source: data processed table 6 concludes the results that statistically, at the significance level of 5%, ic has a positive effect on financial performance roa with a determination coefficient of 0,461955. it means ic independent variables are able to explain the dependent variable financial performance roa of 46,19%, and with a positive coefficient of 0,007547, the results are statistically h4a is accepted. table 6 summary of testing h4a roa = e0 + e1 (vaictm)1it + eit description result sign coeff. vaictm 0,007547 0,0000 t-stat 5,872360 adjusted r2 0,461955 source: data processed table 7 concludes the results that statistically, at the 5% ic significance level does not affect roe financial performance; the results are statistically h4b rejected. a negative coefficient value which means the two variables are negatively related. table 7 summary of testing h4b roe = f0 + f1 (vaictm)1it + eit description result sign coeff. vaictm -0,008736 0,6084 t-stat -0,516655 adjusted r2 -0,019157 source: data processed. the results of statistical testing of the effect of icg and ic disclosures on financial performance roa and roe show mixed results. for the effect of icg disclosure on roa, it gives insignificant results for islamic banking in indonesia, even both (icg and ic) have a negative relationship to roa. this could be possible because islamic banking in indonesia is still in the growth cycle, so the management of the resulting islamic banks is mostly used for the development or opening of new offices in indonesia so that asset growth is very high for each year, thus the trend of roa decreases. while, the effect of icg disclosure on roe is significant, which means that the wider disclosure of icg in islamic banking in indonesia will have an impact on the higher roe. this finding reinforces the results of previous research, namely faozan (2013), which states that icg in islamic banking is a management system designed to improve bank performance, protect stakeholder interests, and improve compliance with legislation and generally applicable ethical values. this result is also in line with other previous studies (ado, 2016; al-baidhani, 2013; al-hussain, 2009; choudhury & hoque, 2004; dalwai et al., 2014; hamza, 2013; hassan al-tamimi, 2012; quttainah, 2012; sam’ani, 2008; rehmans & mangla, 102 journal the winners, vol. 20 no. 2, september 2019: 95-109 2010; yaghoobnezhad, nikoomaram, & salteh, 2012). the influence of ic on roa gives significant results for islamic banking in indonesia, which means that ic has a positive effect on roa. this shows that islamic banking in indonesia considers intellectual capital, especially human resources, to be a very important factor. other interpretations show that islamic banking in indonesia can already utilize ic to support the achievement of optimal financial performance roa. structural capital includes information systems, knowledge, organizational processes and procedures, trademarks and patents, and other ic can be implemented to improve financial performance. table 8 concludes the results that statistically at the 5% significance level of financial performance, roa has a negative effect on isr disclosure. the results are statistically h5a rejected, which states that roa has a positive effect on isr disclosure. a negative coefficient value which means the two variables are negatively related. table 8 summary of testing h5a isrdi = g0 + g1(roa)1it + eit description result sign coeff. roa -3,944212 0,0024 t-stat -3,260105 adjusted r2 0,197998 source: data processed table 9 concludes the results that statistically at the 5% significance level of roe financial performance has a positive effect on isr disclosure with a determination coefficient of 0,35891. it means that the independent financial performance roe variable is able to explain the dependent variable isr disclosure of 35,89%, and with a positive coefficient 0,540716, results statistically h5b is accepted. table 9 summary of testing h5b isrdi = h0 + h1(roe)1it + eit description result sign coeff. roe 0,540716 0,0000 t-stat 4,778521 adjusted r2 0,358914 source: data processed the results of testing the hypothesis can be stated that there is a positive influence on the performance of islamic banks (roe) on the isr disclosure index, the greater the roe of islamic banks in indonesia, the greater the value of the isr disclosure index. these results are consistent with previous researches (anas, rashid, & annuar, 2015; ayadi, 2004; giannarakis, 2014; janggu, joseph, & madi, 2007; nawaiseh, boa, & el-shohnah, 2015; othman, thani, & ghani, 2009; shazila, 2012; tagesson et al., 2009; tagesson, klugman, & ekström, 2013; siregar & bachtiar, 2010; yüksel & özsari, 2017). this finding supports theories that form the basis of the relationship between financial performance and isr disclosure, as suggested by inchausti (1997). when viewed from the point of view of the islamic banking agency theory in indonesia with the performance of banks, they continue to provide detailed information to support their compensation positions and arrangements. moreover, from a political process theory, islamic banks that earn profits will provide more information in disclosure for their profit recognition. the effect of intellectual …… (ichsan setiyo budi; rahmawati) `103 this finding is also consistent with the findings of siregar and bachtiar (2010), where companies with more profits will devote more financial resources to social initiatives. consistency with other research findings, for example, haniffa and cooke (2002), have said that companies that make a profit will provide more information about isr to legitimize their existence. it is further explained that the positive relationship between profitability and the level of isr disclosure is due to management’s freedom and flexibility to publish more isr initiatives to shareholders. tagesson et al. (2009) have said that if a company earns a profit, there is a positive relationship with the level of csr disclosure because the company can pay the cost of csr disclosure. likewise, giannarakis (2014) has said that companies that make profits tend to reveal more information than less profitable companies because management, known as agents, wants to know that they have acted in the best interests of the shareholders. janggu, joseph, and madi (2007) have said that companies with a higher level of profitability tend to reveal more information than companies with low levels of profitability. testing the following hypothesis is testing whether financial performance consisting of roa and roe, mediates the effect of icg and ic disclosures on isr disclosures. the summary of the results of testing the hypothesis of financial performance roa, which apparently does not mediate the effect of icg disclosure on isr disclosures, can be seen in table 10. table 10 summary of testing h6a desc regression 1 regression 2 regression 3 regression 4 icgdi on isrdi icgdi on roa roa on isrdi icgdi, roa on isrdi coeff. 0,995717 0,0000 -0,07025 0,0337 0,892329 0,0000 coeff. -3,944212 0,0024 -0,783283 0,0316 t-stat 6,167683 -2,20306 -3,260105 f-stat 23,51197 0,0000 adjusted r2 0,487114 0,08992 0,197998 0,535847 source: data processed table 10 shows that the conditions for mediation are not fulfilled because the 2, 3, and 4 regression equations are negative, which means there is a negative relationship between the independent and dependent variables. with the statistical results, hypothesis h6a is rejected, which means that the financial performance of roa does not mediate the effect of icg disclosure on isr disclosure. the summary of the results of testing the financial performance hypothesis roe mediating the effect of icg disclosure on isr disclosures can be seen in table 11. table 11 summary of testing h6b desc regression 1 regression 2 regression 3 regression 4 icgdi on isrdi icgdi on roe roe on isrdi icgdi, roe on isrdi coeff. 0,995717 0,0000 0,861062 0,0054 0,958597 0,0000 coeff. 0,540716 0,0000 0,333448 0,0019 t-stat 6,167683 2,948444 4,778521 f-stat 29,73144 adjusted r2 0,487114 0,164763 0,358914 0,595699 source: data processed table 11 shows a summary of the statistical results in the first equation regression analysis. it is found that statistically significant icg disclosure has a positive effect on isr disclosure (sig. <0,05) with a coefficient of 0,9957. regression analysis in the second equation finds that statistically significant 104 journal the winners, vol. 20 no. 2, september 2019: 95-109 icg disclosure has a positive effect on roe financial performance (sig. <0,05) with a coefficient of 0,8610; the higher icg disclosure index would improve roe financial performance. the third equation regression analysis finds that statistically significant roe financial performance has a positive effect on isr disclosure (sig. <0,05) with a coefficient of 0,5407. the results of the fourth equation regression analysis find that roe financial performance has a positive effect on isr disclosure after controlling for the effect of icg disclosure on isr disclosure (sig. <0,05) with a coefficient of 0,9585. the direct effect coefficient between icg disclosure of isr disclosures is 0,9957, but after roe’s financial performance controls the relationship, both of them decrease to 0,9585; thus, partial mediation occurs (ghozali, 2006). from the results of this statistical test hypothesis, h6b is accepted, which means that financial performance roe mediates partially the effect of icg disclosure on isr disclosure. testing the following hypothesis is testing whether financial performance consisting of roa and roe mediates the effect of ic on isr disclosure, which turns out that the results of statistical tests are not proven. the summary of the results of testing the financial performance hypothesis roa, which results do not mediate the effect of icg disclosure on isr disclosure can be seen in table 12. table 12 summary of testing h7a desc regression 1 regression 2 regression 3 regression 4 vaictm on isrdi vaictm on roa roa on isrdi vaictm , roa on isrdi coeff. -0,038505 0,0074 0,007547 0,0000 -0,01666 0,3690 coeff. -3,944212 0,0000 -0,89371 0,0924 t-stat -2,829006 5,872360 -3,260105 f-stat 5,703450 adjusted r2 0,152234 0,461955 0,197998 0,194330 source: data processed table 12 shows that the conditions for mediation are not fulfilled because 1, 3, and 4 regression equations are negative, which means there is a negative relationship between the independent and dependent variables. with these statistics, hypothesis h7a is rejected. table 13 shows a summary of the h7b test where the conditions for mediation are not fulfilled because the 1, 2, and 4 regression equations are negative, which means there is a negative relationship between the independent and dependent variables. with the results of these statistics, the hypothesis h7b is rejected. table 13 summary of testing h7b desc regression 1 regression 2 regression 3 regression 4 vaictm on isrdi vaictm on roe roe on isrdi vaictm , roe on isrdi coeff. -0,038505 0,0074 -0,00873 0,6084 -0,03401 0,0029 coeff. 0,540716 0,0000 0,51355 0,0000 t-stat -2,829006 -0,51665 4,778521 f-stat 19,2703 adjusted r2 0,152234 -0,01915 0,358914 0,48372 source: data processed the results of statistical tests show that the financial performance of roa does not mediate both the effect of icg disclosure on isr disclosure and the influence of intellectual capital on isr disclosure. for financial performance, roe mediates the effect of icg disclosure on isr disclosures the effect of intellectual …… (ichsan setiyo budi; rahmawati) `105 but does not mediate the influence of intellectual capital on isr disclosures. roe’s financial performance successfully mediates the effect of icg disclosure on isr disclosures. this finding shows that islamic banking management with high compliance with all sharia regulations and provisions will play a role in increasing social contributions to islamic banks. this explains that islamic governance will produce good financial performance so that it is able to carry out social responsibility well too. the fulfillment of this mediation also shows that islamic banking management in indonesia has been able to make a fair financial policy for the operational benefits of islamic banks for the benefit of equity holders and needs such as zakat, qardul hasan, and other social needs. the fulfillment of mediation with roe performance could also be due to higher roe in islamic banking in indonesia compares to roa. this shows that islamic banking management is very concerned about the interests of equity holders who are concentrated in certain parties, namely the conventional commercial banks of their affiliation. almost all islamic banking in indonesia are established by conventional bank affiliates that have long been operating. conclusions there is a positive effect of icg disclosure on isr disclosure; the greater the icg disclosure index, the greater the isr disclosure index. the large icg disclosure index illustrates the implementation of good corporate governance principles in each icg structure in islamic banking in indonesia. this means that each icg structure on islamic banks holds the principle of transparency, accountability, and responsibility. these principles are also applied by management in carrying out their social functions. such conditions will color the islamic bank isr so that the annual report as a media reporting by islamic banking in indonesia to many stakeholders provides reports of social activities that have been carried out in accordance with islamic regulations and values. icg and ic disclosures on financial performance roa and roe show mixed results. for the effect of icg disclosure on roa, it gives insignificant results for islamic banking in indonesia, even both (icg and ic) have a negative relationship to roa. while the effect of icg disclosure on roe is significant, which means that the wider disclosure of icg in islamic banking in indonesia will have an impact on the higher roe. the influence of ic on roa gives significant results for islamic banking in indonesia, which means that ic has a positive effect on roa. this shows that islamic banking in indonesia considers intellectual capital, especially human resources to be a very important factor. roa does not have a positive effect on isr disclosure, but there is a positive influence on the performance of islamic banks (roe) on the isr disclosure index; the greater the performance of islamic banks in indonesia, the greater the isr disclosure index value. this illustrates that islamic banks always carry out these obligations even though their implementation requires large funds, but it is supported by the acquisition of roe in islamic banks. financial performance roa does not mediate both the effect of icg disclosure on isr disclosure and the influence of intellectual capital on isr disclosure. for financial performance, roe mediates the effect of icg disclosure on isr disclosures, but it does not mediate the influence of intellectual capital on isr disclosures. roe’s financial performance successfully mediates the effect of icg disclosure on isr disclosures. this explains that islamic governance will produce good financial performance so that it is able to carry out social responsibility well too. this research has several limitations and is expected to be improved in future research. the limitations of this research are; (1) it uses the icg and isr disclosure variables, but the researchers do not discuss the quality of disclosure. the number of disclosure indicators does not indicate the quality of company information disclosure. (2) this research finds that bank performance is proven to mediate 106 journal the winners, vol. 20 no. 2, september 2019: 95-109 the effect of icg disclosure on isr, but only partial mediation. future researches consider the quality of disclosure, namely completeness, accuracy, and reliability as characteristics of disclosure quality to produce better research findings, and subsequent studies try other variables as mediating the effect of icg disclosure on isr to find full mediation. other further research suggestions are to obtain a strong generalization, and because the number of sharia commercial banks in indonesia, which is still small, subsequent research may not limit the banking sector only, but also in other sectors such as insurance. it is necessary to try to add other financial performance that might mediate, not only profitability performance but liquidity performance, for example, such as cash ratio, loan to deposit ratio, or loan to asset ratio. because it is possible to fulfill the liquidity of an islamic bank, it is free to implement social programs. finally, mediation testing is carried out for each component of vaictm because testing each component will produce more detailed research findings. references abu-tapanjeh, a. m. 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(2017). identifying the factors influence turkish deposit banks to join corporate social responsibility activities by using panel probit method. international journal of finance & banking studies, 6(1), 39-50. doi: 10.20525/ijfbs.v6i1.643. https://doi.org/10.1007/s10997-011-9174-5 in pr es s *corresponding author p-issn: 1412-1212 e-issn: 2541-2388 143 the winners, 23(2), september 2022, 143-152 doi: 10.21512/tw.v23i2.7481 the importance of brand stories towards brand perception and purchase intention in gen z indonesians grasheli kusuma andhini1*; fauzia qurani andanawarih2 1fashion design program, product design department, binus northumbria school of design, bina nusantara university fx sudirman lantai 6 jalan jenderal sudirman, senayan jl. pintu satu senayan no. 3, gelora, jakarta 10270, indonesia 2raffles design institute jakarta lippo thamrin mf. jl. m. h thamrin no. 20, menteng, jakarta pusat 10350, indonesia 1grasheli.andhini@binus.edu received: 21st june 2021/ revised: 15th february 2022/ accepted: 16th february 2022 how to cite: andhini, g. k. & andanawarih, f. q. (2022). the importance of brand stories towards brand perception and purchase intention in gen z indonesians. the winners, 23(2), 143-152. https://doi.org/10.21512/tw.v23i2.7481 abstract the research explored the importance of brand story towards indonesia’s gen z and how it affected buying decisions and perception towards the brand. it explored if creating a brand story is a central element in creating and differentiating indonesian fashion brands that becomes a beneficial tool for both business owner and its customer. the research was conducted through an exploratory descriptive approach by using survey on indonesian collectivist society—those who behave communally based on in-group norms including the 84 gen z—as well as archival research on two similar fashion brands, and interviews on one customer and one brand owner. the research findings point out that brand stories take a positive effect on a customer’s perception towards a brand and their purchase decision. while brand stories do have an influence in shaping the image of a brand as well as becoming a factor in a customer’s purchase decision process, other brand attributes such as packaging, social media content, and logos also plays an important role in a shaping brand image, as well as the customer’s final purchase decision. furthermore, the opinions of a key opinion leader about a brand or product greatly matters in this society and that people are more willing to purchase a product if it has already been positively reviewed by a key opinion leader. keywords: brand story, gen z, brand perception, purchase intention, brand image construction i. introduction today, generation z – or those who was born from 1995 onwards – are coming of age and as they mature they will make and spend money, as a result they become the perfect target for businesses. in 2020, indonesia was populated by 74,93 million gen z making up to 27,94% of the country’s total population (rakhmah, 2020) and are dubbed as the internet savvy for their active use of internet and technology. this generation loves immediacy without having to wait for long period that shows in their ability to multitask (sriprom et al., 2019; asyifa, 2021). although it seems that they do not like to work in a team but with their dependency on internet especially social media, they tend to follow the influences around them, such as on their consumption, purchase intention or preferred brands (fitriana et al., 2020). throughout history, stories have aided humans in understanding and perceiving the world (escalas, 2004). fog et al. (2010) propose that storytelling can be used as a tool for brand creation and its concept, and today, storytelling is becoming a popular element to adapt in marketing. leading fashion companies and other disciplines have already started implementing storytelling in their marketing schemes. well-told stories about brands have the potential to influence a customer’s feelings, cognitions, and behavioral responses, which are evoked by brand-related stimuli that are part of the brand’s environment, identity, messages, and environment (lundqvist et al., 2012), which all ultimately affect the customer’s overall brand experience and later would link to positive brand image and customer attachment (kim & chao, 2019). the past decade has brought ready-to-wear fashion brands to the forefront of the indonesian fashion scene. local designers have shifted their focus to creating products that are able to be mass-produced (e.g. basics), which has led to an increased number in pr es s 144 the winners, vol. 23 no. 2 september 2022, 143-152 of local brands throughout the country that creates a tough competitiveness and differentiation dilemma in fashion industry in general. therefore, the question of how to differentiate brands from one another has become even more challenging for marketers, which has resulted in them using the power of stories to communicate and form an emotional connection with consumers and their markets (huang, 2010; hong & cho, 2016; lindsay-warren & ringler, 2021). conveying ideas and concepts through stories could be an effective way for consumers to make sense of a certain brand (escalas, 2004) that leads to customers’ intention in spreading their experiences with the brand and its information (kang et al., 2020). a brand story might also enhance the relationship between a customer and the brand (tsai, 2020) since it possesses a utilitarian function and a symbolic meaning that may connect and resonate with the customer’s feelings and emotions (herskovitz & crystal, 2010; pereira, 2019). a brand story that is built around a distinctive personality can evoke an emotive response from the customers (target market), which can form the core foundation of any strong successful brand across different categories—this happens because when a customer is buying a product/service from a brand, they are not only buying the tangibles and its functional benefits, instead they also look for an emotional benefit (veloutsou & delgado-ballester, 2018). speaking about culture and behavior in indonesia, previous studies have revealed that a collectivist society is at the core of the indonesian social structure (maulana et al., 2019). indonesian culture revolves around loyalty, conservatism, affiliation, and togetherness; as expressed in the term “gotong royong” -communal workand “bhinneka tunggal ika” -unity in diversity(slikkerveer, 2019; nugroho, 2018). throughout history, indonesians have been known to be communal people (suwignyo, 2019), beginning in villagers creating close-knit communities, to now communities (work-place friend groups, extended families, etc.) maintaining and valuing harmony above all else. collectivist cultures consist of individuals that are interdependent with their in-groups, build their behaviour on the basis of in-group norms and behave communally (orji, 2016). furthermore, as they feel involved with the in-groups, they tend to give priorities more to the goals of their in-groups – family, friends, co-workers – and feel normative pressures to conform those goals (burholt et al., 2018), which may result in them straying away from trying new styles of clothing, makeup, hairstyles, and more. this event shows that they are avid followers of trends and prefer to use things that has been pre-approved by their in-group or the key opinion leader of that group. when it comes to retail, collectivist societies are more likely to prioritize the needs and wants of a certain group (usually their in-group) over their individual desires, that the beliefs and opinions of a leader greatly influences and reflect people in collectivist societies. this manifest can be seen in the form of social media influencers using their influence to promote products and services from a company, which usually results in a portion of their followers purchasing the promoted item and at the same time creating a more favorable brand image (nurhandayani et al., 2019). through the influencer’s storytelling as the brand’s people or endorser, customers can construct a more detailed image or understanding towards the promoted brands – its products and service – in a relatable manner (glucksman, 2017), which would then improve or worsen the brand personality and image (depending on how the influencer delivers the review of a certain product or service) (tong et al., 2018). in the concept of storytelling, stories are used as means of transferring emotions, experience, points of view or information, and atmospheres (tsai, 2020) in such a way that the listener learns, understands, or experience something through listening. in general, stories are more interesting and able to capture the audience’s attention which results in them being more attentive and involved in comparison to someone stating facts (chen & seng, 2016). in addition to telling stories (roxo, 2020), humans also process information in the form of stories since it helps individuals to make sense a situation, organise an event, evaluate and cope with emotions. stories are believed to help people form identities and help them connect to the outside world in a comprehensive manner (huang, 2010) and storytelling is further proven to help aiding people in making sense of the world and strengthening emotional connections (herskovitz & crystal, 2010). since people are accustomed to understanding the world, their surroundings, and who they are as individuals functioning as a member of a society through stories, it eventually became a marketing method that is widely used today (huang, 2010). it becomes a vital element in advertising, communication, branding, and its strategy management for various disciplines (delgado-ballester & fernández-sabiote, 2016; dimitrova, 2021). a brand story is a narrative construction that communicates the visions, benefits, values, development and innovation, and the birth of a brand (solja, liljander, & söderlund, 2018). it gives consumers a chance to associate brand stories with their personal stories or experiences and to connect with the brand favourably (carnevale et al., 2018) resulting in self-brand connections on a more personal level (huang, 2010). stories are widely used to explain goals, evaluate the actions to achieve the goal and to interpret the outcomes of it (lee, 2020). a brand can use the same method to explain the establishment of motivations and objectives (he et al., 2016) whilst evaluating actions, and planning future actions to achieve the goals in the form of a brand story. moreover, stories help in aiding the self-introduction of a brand (pan & chen, 2019) and describing the products’ function (he et al., 2016). customers are constantly seeking for experiences that are attractive to their emotions, which stories help creating such experiences (fog et al., 2010). stories make brands look more interesting in pr es s 145the importance of brand .... (grasheli kusuma andhini; fauzia qurani andanawarih) that results in customers become brand ambassadors who actively share their experiences with their close relatives. when a brand is communicated in a narrative format, customers would react to the brand less critically and minimize negative thoughts about the brand in comparison to the time when they find the brand in common advertisements (escalas, 2004). arguably these days, a brand’s physical product or service no longer serves as a differentiator in the midst of sameness competition. instead, the difference lies in the story and the content of the story which includes the vision, mission, culture, history, which in turn would churn out the purpose and relevance of the brand to its audience. sustaining competitive advantage has become increasingly important in this era, and corporate brands can no longer “just stand there” they must be out in the world standing for something and somehow stories are able to aid a competitive differentiation (hofman-kohlmeyer, 2017; dimitrova, 2021). naturally, humans crave for authenticity (cinelli & leboeuf, 2020) and are likely to doubt whether the information that they received is authentic or not. stories are considered as “true” if it includes meaningful values and purposes that aligns with people’s real-life experiences. in contrast, a story would be inauthentic if it does not align with their life experiences or when it seems like the truth is distorted or hidden (huang, 2010). the authenticity of a brand story matters greatly as it may aid a customer in further understanding the brand. however, it is important to note that brands should not stray too far from authenticity (i.e., operating the business that is nowhere near their claims) since there is a chance that a brand might be called out for their inauthenticity and dishonesty, which could lead to boycott or mistrust, especially in the era of social media, where information are easily exchanged between people. stories that are told through a first-person narrator who tells their own stories and reveal personal experiences are more believable than a story told by a third-person narrator. this is due to phrases containing the word “i” or “we” would resemble our daily communication, therefore they are more likely to be perceived as authentic inducing favourability and trust that will result in a stronger brand image (huang, 2010; ryu et al., 2019). the narrator in a story has to be able to get a customer involved in a story in order to precipitate emotional or behavioral response—this is often demonstrated when an influencer or a public figure is promoting a certain product or service through their social media platforms. the plot of the overall brand story is an essential part of storytelling since it is the tool that organizes a story from beginning to end (pan & chen, 2019). having a plot will help customers navigate through the story, which would result in them grasping a better understanding of the brand and its attributes. in branding, the structure of a plot usually begins with a clear background information about the brand, followed by the introduction of the conflict, then onto reaching the climax of the story discussing problem and ends with a resolution or solution to the conflict (fog et al., 2010). they become a guide for brand to create a compelling story in return for a positive brand image; that it must be understandable, spreadable, and influential. all in all, a successful and clear brand story reflects the brand’s ability to capture the hearts and minds of its customers and its willingness to give its customers a say or a sense of belongingness within the brand (chen & seng, 2016). mabkhot, shaari, and salleh (2017) suggest that brands are perceived by the customer in the form of brand image. brand image can be defined as perceptions of a brand that is reflective of the brand’s associations in the minds of a customer. additionally, the concept of a brand image encapsulates the idea that customers look from brands not only for their physical functions and attributes, but also the meanings and emotions associated with the brand (išoraitė, 2018). essentially, a brand image is a set of beliefs held by a customer about a specific brand—it also tells the customer where the brand is positioned within the market, and helps them differentiate brands from one another. thus, the construction of a brand image lies solely from the customer’s perspective. a customer can construct a perceived image of a certain brand only when the brand in question has a specific brand identity that is easily reached by the customer, thus, a brand will have to first figure out its identity, deliver that through a story, and let the customer construct an image of a brand. the identity of a brand usually consists of things that are visually noticeable, such as logo, symbol, or even colour (ross, 2020; tarver, 2020), as they enable customers to identify one brand from another. having a brand identity will help the brand differentiate itself from others, whilst also creating strong brand awareness that leads to credibility and trust among customers. kapferer (1996) develops a diagram that would help brands and customer identify its identity to construct an image. the brand identity prism is a diagram that illustrates the information between the correlation of the brand’s identity (how the brand wants to be perceived) and the brand’s image (how the brand is perceived by the customer). the diagram consists of a hexagon, in which each side represents an essential element of brand identity as identified by kapferer (1996). as seen on figure 1, the top two elements represent the picture of the sender, which would be the brand, whereas the two bottom represents the picture of the recipient, which would be the customer that observes or interacts with the brand. the left side contains external elements, whereas the right holds internal elements (kapferer, 1996). figure 1 shows an example on how the brand identity prism with its six elements is used, and in this case, patagonia will be the example. patagonia is an outdoor clothing brand that specialises in creating durable fabrics and garments in an environmentally friendly way. the physique represents the physical in pr es s 146 the winners, vol. 23 no. 2 september 2022, 143-152 characteristics of the brand and is argued by kapferer (1996) as being the basis of a brand. second, the personality is the character of a certain brand, this segment is where the brand is personified by a customer, the process is similar to calling a person blunt or sustainable. third, the culture represents the principles and values that the brand stands for, which in this case would be reducing environmental footprint in the supply chain process. fourth, the relationship represents the relationship that the brand creates with its customers. in other words, this segment is based on how brands influence their own customers. fifth, the reflection represents how a customer reflects with the brand, which is different than how customers perceive the brand, this stage talks more about the customers who use the brand, instead of the brand. finally, the self-image segment represents how a customer perceives themselves while or by using the brand (kapferer, 1996). the content that a brand puts out for the public to see will be the things that help them construct a brand image. moreover, it becomes more critical during consumer purchase decision, in terms of brand awareness and its recognizability where consumers have to choose a brand over other competing brands (chen, 2017; novansa & ali, 2017; ansary & hashim, 2018). the fact that brand images are created by the customer, the company must create a portrayal of the desired brand image through creating a comprehensive brand identity to evoke the customer into constructing a brand image. customers seem to easily permeate with brands with personality traits (aaker et al., 2004). it is defined as the set of human personality traits or characteristics associated with a given brand (aaker, 1997). these characteristics includes gender, age, socioeconomic class, as well as classic human personality traits, which are warmth, concern, and sentimentality (aaker, 1996). earlier studies have suggested that an individual has greater preference for the brand when there is a greater congruity between the human characteristics that describe an individual’s ideal self and those that describe the brand. mark and pearson (2001) propose that the 12 archetypes are divided into four categories based off of: 1) stability and control, 2) belonging and enjoyment, 3) independence and fulfilment, and 4) risk and mystery. through a marketing standpoint, archetypes are used to interact with a customer’s deepest motivations and give meanings to the products and brands associated with their unconscious desires. it is argued that designing a brand story based on archetypes enables a customer to form connecting to the brand in a conscious and subconscious level; in fact, up to 95% of consumer buying decisions are subconscious (gross, 2017). archetypal brand is able to connote trust between the customer and the brand through providing shared meanings and values across different cultures—they also act as a tool to generate emotional connection with the customers in a psychologically compelling way that results in user-brand relationship (sebastian et al., 2017). emotional branding, attachment and commitment, would eventually create strong brand relationships that reflect on the customers’ loyalty. the attributes, features, and traits of a brand are then delivered to the customers through the brand story. stories act as a carrier of meanings of a brand to a customer, and the meanings inside the stories can resonate within the customer’s experiences, and memories (huang, 2010). finding the right story to portray to customers can also be found through identifying an archetype, since archetypes are able to resonate and connote trust with customers. through storytelling, the narrator (brand) can deliver information about the brand’s identity, which would aid the customer to personify the brand and construct figure 1 patagonia’s brand identity prism (source: authors, 2020) in pr es s 147the importance of brand .... (grasheli kusuma andhini; fauzia qurani andanawarih) an image for the brand. it should be noted that an interesting and successful brand story is arguably built around a distinctive character or personality. it results in evoking an emotive response from the customers, which would form the core foundations of a successful brand across different product categories and industries. brand stories in fact enable the brand and customer to add symbolic meaning behind the product and the brand (lundqvist et al., 2012). in addition to that, stories embrace the values of a brand in ways that traditional marketing cannot – having a brand story enables the brand to communicate values, spiritual, and emotional connection of the brand or organisation to target groups (keskin et al., 2016), leading to an increase in customer loyalty and a positive brand image (lundqvist et al., 2012; hwang, 2017). behind every purchase, a customer goes through a process in which they determine whether the product is worth buying. in relation to that, values are believed to influence the behaviours of individuals and provide a powerful explanation on customer behaviour (eibelspanyi & hofmeister-toth, 2013). bullen (2019) clarify that the brand that one puts out would reflect much more than the product they are selling; a brand’s core value shows a customer what the company believes in which might enhance the authenticity of the brand. in addition to that, gen z customers are more likely to ask or search about a brand’s values which greatly affect their purchasing decisions. indonesian gen z are brand-conscious, and they seek for brands with uniqueness and personality that could set them apart (kim et al., 2020). in fact, 63% of consumers in 35 countries said that they are more likely to buy products from companies that reflect their own values and will avoid companies that do not (barton et al., 2018). in correlation with brand image, the value of a brand also has the potential to build a positive brand image, since stories can relate to a customer’s personal experiences, the brand’s core values have the ability to enhance the overall customer experience. inherently, the core values of a brand acts as a guide to figuring out the brand’s story contents and narrative, its actions, visions, as well as its identities. the core value of a brand is a direct reflection of who the brand really is, thus, before constructing a particular story, it is best to figure out the core values of a brand to know and successfully deliver the brand’s essence, identity, and visions to the customers. it is further formulated in figure 2. in a culture that values collectivism where people are more likely to be influenced than to influence, the research aims to explore if creating a brand story is a central element in creating and differentiating indonesian fashion brands. it looks into the extent to which brand stories influence purchase decisions and their impact on brand image, identity, and value from the perspective of gen z customers in indonesia. inherently, the overall research objective of the research is to look into the importance of brand story towards the nation’s young adults and how it affects their buying decisions and their perception towards the brand, since a brand story could become a beneficial tool for business owner to help them stand out in the current sameness competition. ii. methods the data are gathered through an exploratory descriptive approach by using multi method with the application of online survey and archival research towards members of a collectivist society as well as gen z indonesians. samples are chosen purposively based on the non-probability sampling techniques. a total of 84 respondents aged 15-25 are gathered for the descriptive analysis through online questionnaire that was spread across the nation to give an accurate representation of the brand stories’ effects towards ordinary young adults in indonesia. the data collection method revolves around two similar local brands; public culture (brand 1) and thanksinsomnia (brand 2) — with the aim to dig deeper insights on how the presence or absence of a brand story would affect customers’ perception of the brand. archival research is focused on two similar brands: calla (brand a) and sejauh mata memandang (brand b) — comparing how the availability of brand story on both brands affecting the brand performance. this looks into several criteria: 1) follower count, 2) promotion method, 3) customer interactions, 4) accessibility, and 5) story. the two brands are chosen since both brands are offering a quite similar style and figure 2 research framework in pr es s 148 the winners, vol. 23 no. 2 september 2022, 143-152 similar numbers of followers on their social media yet one presents a story with clear vision and missions and the other one relies on visuals without a brand story. along with the data collected from the survey, all data are further validated by the online interviews. the interview is done to look into a deeper comprehension from the perspectives of both a customer and a brand owner on the effects of brand stories. both are recruited as samples because they both have experienced with ‘brand’. the brand owner and the customer who is also a marketer in a company give a first-hand experience and the real data towards the importance of a brand story. the interviews are done separately and virtually to avoid bias and keep the privacy of the two interviewees. similar types of questions are asked with some following questions to dig their point of view on the matter. iii. results and discussions the survey finds that 93% of the respondents are attracted to the brand with an extensive brand story attached to it (brand 2), which is when they are shown the two brands side by side. the outliers point out that brand 1 stands out more and they are more focused on its aesthetics of the brand instead of who or what the brand is. the 39% out of the 84 respondents said they want to buy from brand 1 (brand with minimal background description). the result is a total contrast when they are asked about brand 2. 85% of respondents answer the brand 2’s story tells something interesting about the brand that is relatable and makes them attracted to buy from the brand. figure 3 survey figure 4 shows that customers are more likely to choose the brand with story containing value than brand with an ambiguous background. customers are more able to construct the desired portrayal of a brand when the brand establishes an identity delivered through a story, which tells them something interesting about the brand. the agreement of values between the customer and the brand in fact leads to customers favouring the brand more. figure 4 survey: which brand stands out the most? figure 5 archival research archival research is done on two brands; one with and one without a brand story. both brands are successful (in terms of sales, marketing, and fame) and customers are still actively purchasing their products. despite having unclear brand story, brand a manages to collect sales and awareness through influencer endorsements and further line back to the collectivism culture in indonesia that is potent. on the other hand, brand b promotes through celebrities and makes their products look and feel more high-end rather than relatable. yet, they are still able to captivate customers through their missions, visions, and aesthetic. it is believed that even though brand story is important to have, other factors like identity and aesthetic would also be important factors to include in the creation of a successful brand. through the interview, it is found that both brand owner and customer agree that indonesian brands tend to be similar to one another and tend to prioritise style or aesthetics over value, beliefs or background. besides, indonesia’s collectivism culture still plays a major role in indonesian fashion industry and overall influencing the purchase behaviour. having clear intangible attributes like story as part of brand identity indeed will benefit both brand owner and customer in navigating the brand. it serves as brand’s navigator in which it makes it easier for in pr es s 149the importance of brand .... (grasheli kusuma andhini; fauzia qurani andanawarih) customers to understand the identity of company and decide whether it is the right one for them. in this sense, it could become a competitive advantage in the same environment of fashion brands. the brand owner believes that the story will tell more about the brand as compared to factors like aesthetics or packaging. it helps steering the brand into the wanted direction upon brand launching and makes it easier for customers to personify the brand. people want to showcase who they are and are more likely to gravitate towards a brand with a clear brand story — in this way, brands are there to support the visions of their ideal self. “people are more likely to purchase from brands that represent themselves. you want to feel good about buying stuff.” – customer “having a brand story and a clear identity automatically personifies your brand, it gives your brand a little bit of flavor, relatability, and authenticity.” – brand owner today, there are still numerous brands in indonesia with little to no brand story and rely solely on visuals and influencers, yet they are still successful and manage to have high demand in the market. this brought an attention to the fact that indonesia’s collectivism culture does play a role. furthermore, tangible attributes of a brand play just as much an important role in branding like identity and value. customers could in fact personify, relate, and structure an image of a brand through visuals and other tangible aspects as well. however, gen z and late millennials are believed to have started paying attention to the brand and the brands’ beliefs, so eventually there is a change in the purchase decision factors and how customers shop in general. iv. conclusions stories are one of the tools that allow customers to receive an experience that is appealing to their emotions and dreams. a brand’s core value acts as building blocks for the construction of the brand identity, which are then delivered to customers through brand stories in the hope that customers will assign the brand a personality that will lead them to construct either a positive or negative brand image. all factors intertwine with each other and eventually leads to customers’ final purchase decision. starting how key opinion leaders use their storytelling as a method to how stories are developed from core values that results in the construction of identity, followed by the story carrying the brand’s core values and identity to its customers for them to assign personalities and form an image of the brand. the research shows that customers would differentiate brands from one another through visual aspects and content. for some brands, visual aspects might be their points of differentiators but for some others, content (story or value) is used as a method for differentiating in this sameness yet competitive market. brand stories do take effect on the customers’ perception of a brand and their purchase intention. while brand stories may be a significant factor in those two aspects, other factors such as visual imagery and aesthetics also takes role in shaping an image as well as purchase intention. it is noted that while some people may be affected to the presence or absence of brand stories, some people simply do not care about those factors, and prioritize tangible attributes (visual aspects, packaging) over intangible ones (values, background beliefs). furthermore, it adds information that visual attributes, hype, and key opinion leader (kol) promotion all chime in to affect the brand’s overall recognition, perception, and eventually the customer’s final purchase decision. creating unique brand stories in a collectivist society is to an extent important, but we also have to remember that brand stories cannot carry the brand alone. we would still need appealing visual attribute and correct market positioning and planning for a brand to be able to stand out from competitors and sustain themselves long-term. with that knowledge, brand owners or managers should not rely greatly on brand stories alone to generate revenue and become successful. there are still a limited amount of studies that prove the efficacy of brand stories within a brand in collectivist societies, let alone indonesia. even if brand stories influence revenue, visual attributes and a positive endorsement from a key opinion leader would greatly matter in this country. for a brand to be successful, they must find a balance between the three factors. as of current, the sample sizes for the three methodologies are still relatively small and limited. having a bigger scope of study may give future research a more objective and accurate answers. the research might be beneficial to apply to different age group, brands, and different industry to further test the importance of brand story. additionally, it might also benefit to look into the link between brand story and other visual attributes as how 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(rosinta ria panggabean; dkk) 123 corporate social reporting: a comprehensive picture of indonesian mining companies rosinta ria panggabean; nuraini sari; lidiyawati; evi steelyana faculty of economics and communication, bina nusantara university jln. k.h. syahdan no. 9, palmerah, jakarta barat 11480 ria2311@yahoo.com; nsari@binus.edu; lidiyawati@binus.ac.id; evi.wiyarto@gmail.com abstract recently, stakeholders demand that csr reporting of a company provides social and environmental information as well as the financial information reported in financial statement. this research questioned whether csr reporting of indonesian mining companies may be regarded as a mechanism which social and environmental accountability are discharged. the purpose of this research is to provide a content analysis framework and information on the comprehensiveness of corporate social responsibility (csr) reporting of indonesian mining companies. the methodology used is content analysis method by a framework derived from gri g3.1 guidelines. comprehensive reporting contains three types of information for each disclosed csr item: (i) vision and goals, (ii) management approach, and (iii) performance indicator. the framework was used to assess the comprehensiveness of csr report by analyzing the 2012 financial reports and annual reports of indonesian listed mining companies. the content analysis of csr reporting of the listed mining companies in indonesia shows a low level of comprehensive reporting. this finding agrees those of prior studies on the completeness of csr reporting and adds to the debate regarding whether csr reporting of indonesian mining companies can be considered a mechanism for discharging social and environmental accountability. keywords: accountability, csr, gri, social and environmental reporting abstrak saat ini pelaporan csr suatu perusahaan yang menyediakan informasi sosial maupun lingkungan semakin dibutuhkan oleh para pemangku kepentingan, disamping informasi keuangan yang disajikan dalam laporan keuangan. penelitian ini ingin mengetahui apakah pelaporan csr pada perusahaan pertambangan di indonesia dapat dianggap sebagai suatu mekanisme pengungkapan akuntabilitas sosial dan lingkungan. tujuan penelitian ini adalah untuk menyediakan suatu kerangka kerja analisa isi dan informasi mengenai kelengkapan dari pelaporan csr pada perusahaan pertambangan di indonesia. metodologi penelitian yang digunakan adalah metode analisa isi dengan kerangka kerja yang disusun berdasarkan gri g3.1 guidelines. pelaporan menyeluruh mencakup tiga jenis informasi untuk setiap item csr yang diungkapkan: (i) visi dan tujuan, (ii) pendekatan manajemen, dan (iii) indikator kinerja. kerangka kerja digunakan untuk mengetahui kelengkapan dari laporan csr dengan menganalisa laporan keuangan tahun 2012 beserta laporan tahunannya dari perusahaan pertambangan indonesia yang terdaftar di bursa. analisa isi dari pelaporan csr perusahaan tambang indonesia menunjukkan tingkat pelaporan menyeluruh yang rendah. temuan ini sesuai dengan studi sebelumnya mengenai kelengkapan pelaporan csr dan berkontribusi dalam pembahasan apakah pelaporan csr pada perusahaan pertambangan di indonesia dapat dianggap sebagai suatu mekanisme pengungkapan akuntabilitas sosial dan lingkungan. kata kunci: akuntabilitas, csr, gri, pelaporan sosial dan lingkungan mailto:ria2311@yahoo.com; mailto:nsari@binus.edu; mailto:lidiyawati@binus.ac.id; mailto:evi.wiyarto@gmail.com 124 journal the winners, vol. 15 no. 2, september 2014: 123-139 introduction corporate social responsibility (csr) is a concept that has changed worldwide perspective that the aspect of social and environmental accountability also provides information regarding the values, objectives and quantified targets of a company. the concept of csr is relatively new among the companies in indonesia. csr report provides significant information to the stakeholders to make a decision as well as the financial information reported in financial statement. however, the previous studies have revealed that it is highly doubtful that current csr reporting provides a fair view of a company’s csr performance to the stakeholders. this doubt mainly originates from the fact that the companies predominantly provide narrative csr information, which usually was tailored to manage public impression (adams, et al., 1995). comprehensive reporting requires three information types to be provided for each disclosed csr item: (i) vision and goals (vg); (ii) management approach (ma); and performance indicator (pi) (bouten et al., 2011). comprehensive reporting is a condition that needs to be fulfilled to obtain accountability (adams, 2004). the comprehensiveness of csr reporting can be captured not only by (i) the disclosed csr items but also (ii) the accompanying information types (vg, ma, and pi) (bouten, et al., 2011). to assess the framework and obtain the information on the comprehensiveness of csr reporting is conducted by analyzing and 2012 annual reports of 31 indonesian listed mining companies. the main reason for choosing the sample is, to our knowledge, there are still few literature and studies regarding csr in indonesia and mainly focused on larger companies (crane, et al., 2008). then, we selected 2012 annual reports for analysis because these reports were the most recently available data in indonesia. theoretical framework responsibility reporting is a part of a firm’s communication tools in order to decrease information asymmetry between managers and investors and in order to produce a more precise market valuation of a firm (niskala & schadewitz, 2010). for the firm the environmental information that’s given to stakeholder is attempt to communicate the performance of management in achieving long-run corporate benefits, such as improved financial performance, increased competitive advantage, profit maximization, and the long-term success of the firm (nigel et al. 2005). size and industry membership affect the amount of csr disclosure, disclosures of all csr issues are affected by their visibility, shareholder structure, and relationship with their us stakeholders (gamerschlag, moeller, & verbeeten, 2010). the sarbanes-oxley act of 2002 (the act) was reinforcing corporate accountability and professional responsibility in order to restore investor confidence in corporate america (rezaee & jain, 2005). much research question is whether current reporting practices truly reflect corporate social and environmental behavior (unerman, 2000). underlying dilemmas and complexities for managers in dealing with accountability to shareholders and stakeholders, and the role of auditors, are indicated. as those, reports should provide objective information that allows stakeholders to make a reliable estimate of the organization’s social and environmental performance (gray, 2006). to further the correspondence between reporting and actual performance, several prior studies have suggested a form of csr reporting, which we will call comprehensive reporting. according to robertson and nicholson (1996), the ‘ideal model’ of csr disclosure combines three hierarchical disclosure levels to close the gap between rhetoric and action. these disclosure levels are (i) ‘general rhetoric’, which covers the corporate recognition of the value of csr; (ii) ‘specific endeavour’, which consists of csr activities and (iii) ‘implementation and monitoring’ of csr programs. companies that publicly set targets and report on their progress made have reached this level. adams (2004) argues that one condition for the discharging of accountability is that companies provide clear statements of values, objectives and targets against which they report. overall, prior studies suggest that csr reporting should not only provide statements of commitments but should also elaborate on corporate social reporting..... (rosinta ria panggabean; dkk) 125 the fulfillment of these commitments and the achieved outcomes. such reporting furthers the discharging of social and environmental accountability because it enables stakeholders to gain an overall understanding of a company’s social and environmental performance. because csr reporting is considered an important mechanism through which companies can account for their social and environmental policies and performance to a variety of stakeholders, many empirical research studies have analyzed the content of corporate reports for disclosures with respect to one or more categories of social and environmental matters (unerman, 2000). according to beck, campbell, and shrives (2010), these studies could be used to assess the completeness of reporting, i.e., the number of items disclosed. however, in order to serve as a valuable tool for assessing the level of accountability, a content analysis must also capture the information types provided. guthrie, cuganesan, ward (2008) have argued that a sense of quality can be gained from whether the statement about an item is declarative, monetary quantitative or non-monetary quantitative. overall, these studies reveal a distinct lack of specificity in the disclosed information, indicating that csr reporting is typically vague. nevertheless, based on these studies, it remains impossible to judge whether companies mainly elaborate on aims and intentions or on real actions taken. research method this study uses a study conducted by bouten (bouten et al., 2011) as a reference, so that the stages of the following research methods derived from the study of bouten. in addition to explaining the developed content analysis framework, this paper aims to illustrate the application of the framework by analyzing the disclosures of indonesian listed mining companies. each company’s 2012 financial reports and annual reports were used as the basis of analysis because; the financial report and annual report play an important role in the accountability-discharge activity of companies. the reasons are because they are widely distributed and usually available on the company’s website and because they are considered as the most important tools used by companies to communicate with their stakeholders (neu et al., 1998). in year 2012 the indonesian government issued a decree no.47 year 2012 on environmental and social responsibility (csr), which expressly stated therein liability of any kind of company to include csr reporting in the statement of the general meeting of shareholders of each. we focused on publicly traded mining companies, as they are more likely to disclose csr information (branco & rodrigues, 2008). there are 31 listed companies and we take 13 as the sample. the publicly traded mining companies were attributed to industry’s sub sectors according to profile of listed companies in indonesia stock exchange website. the list of the sample is below. table 1 list of sample sub sectors: share codes: coal mining arii atpk byan dewa gtbo crude petroleum & natural gas production bipi land/stone quarrying ctth metal & mineral mining antm asia inco psab smru tins source: data processing result 126 journal the winners, vol. 15 no. 2, september 2014: 123-139 to assess the level of comprehensive reporting, a content analysis framework was developed. content analysis can be defined as a method of codifying text into different groups depending on selected criteria (weber, 1990). this method has been frequently used to understand and describe the patterns in csr reporting (guthrie &abeysekera, 2006). as illustrated in figure 1 the coding structure (see appendix), the coding structure consists of two dimensions: (i) content and (ii) information types. the first dimension consists of two levels: (i) areas and (ii) items. the coding structure has the form of a coding tree. the coder first decides on the area of disclosure, then on the item of disclosure and finally on the information type. following krippendorff (2004), a coding structure in the form of a decision tree has the following advantages: (i) criteria confusion is minimized, (ii) decision schemes can drastically reduce large numbers of alternatives, (iii) decision schemes can prevent unreliability due to categories being defined on different levels of generality or that overlap in meaning and (iv) when recording involves several dimensions of judgment, decision schemes offer coders the opportunity to determine each one separately. although no consensus exists on what csr reporting means (guthrie, et al., 2008), appropriate content analysis demands that the coding structure is derived from shared meanings (beattie & thomson, 2007). therefore, the global reporting initiative’s (gri) sustainability reporting guidelines (version 3.1) served as an appropriate starting point for the development of the coding structure because the gri framework is global, has international acceptance (farneti & guthrie, 2009), is considered a rigorous framework for the application of triple bottom line reporting (lamberton, 2005) and was drafted by a wide variety of experts after stakeholder consultation (reynolds &yuthas, 2008). furthermore, the gri guidelines are readily available on the gri’s website. these guidelines are intended for all types of companies, allowing for the derived coding structure to be used for different industries (willis, 2003). although the gri has developed sector supplements for a few industries, the gri still considers these guidelines to be the cornerstone of the gri sustainability reporting structure. these guidelines outline the core content for reporting and are relevant to all organizations, regardless of their size, sector or location. they form the foundation upon which all other gri reporting guidance is based (www.globalreporting.org). finally, the gri guidelines provide a structured overview of the base content of csr reporting. the base content is divided into six areas (economic, environment, human rights, labor practices and decent work, product responsibility, and society) and several items (see figure 2 the gri g3.1 as reference for the dimension content in appendix). this approach adds directly to the transparency and replicability of the content analysis because other researchers can also use these guidelines to determine which area and item a disclosure belongs to. the gri suggests that a company should provide different information types (strategy and profile, management approach and performance indicators) when it discloses a csr item. however, these categories are not clearly defined. therefore, the second dimension distinguishes between three information types, based on the work of vuontisjärvi (2006). vision and goals (vg), in line with vuontisjärvi (2006), this category includes disclosures that provide information on stated aims or values. this category thus covers corporate recognition of the values of csr (e.g., striving for a reduction in energy consumption. management approach (ma), similar to vuontisjärvi (2006), this category covers how the company addresses a given csr issue by describing the action or practice adopted, and it corresponds to the second level, ‘specific endeavour’, of robertson and nicholson’s (1996) hierarchy. performance indicators (pi), similar to vuontisjärvi (2006), this category reflects actual csr achievements by providing quantitative measures of csr performance. this study adds a table for content analysis framework that is not contained in the article bouten, which is in appendix table 2 the gri g3.1 as reference for the dimension information http://www.globalreporting.org). corporate social reporting..... (rosinta ria panggabean; dkk) 127 types. the addition is intended to simplify the process of coding. identifying and quantifying csr disclosures; before verifying the presence of an item and the disclosure type, it was necessary to read each report to identify and code every sentence that contained csr information by assigning a content and information type label to it. in line with most social and environmental content analyses, the sentence was thus used as the unit of analysis (guthrie, et al., 2008). level of comprehensive csr reporting; the main contribution of the content analysis framework is that it assesses the comprehensiveness of csr reporting by verifying whether a company releases information on vg, ma and pi concerning a specific csr item. based on this information, a measure for the level of comprehensive csr reporting can be constructed as follows: number of items for which all 3 information types (vg, ma, pi) are disclosed level of comprehensive reporting = ______________________________________________________________ number of items reported by the company the level of comprehensive reporting reveals the extent to which a company discloses all three information types for the items they report on. results and discussion this section describes the results of the application of the content analysis to the 2012 financial reports and annual reports of 13 indonesian listed mining firms and illustrates the feasibility of the developed framework to answer a variety of research questions. panel a of table 3 main characteristics of csr reporting in indonesia illustrates that the all of the 13indonesian listed mining companies (100.0%) elaborate on at least one item in the economic area. furthermore, more than half of the companies (53.8%) provide some environmental and labor information. slightly more than onethird of companies (38.5%) disclose some society and human rights information. slightly less than one-third of companies (30.8%) disclose some product responsibility information. these findings confirm that indonesian mining companies tend to focus on the economic aspect of csr. overall, 13 companies (100.0%) disclose some information on at least one csr item. because the focus of this section is on assessing the level of comprehensive csr reporting, which is the main contribution of the content analysis framework, the remainder of the results section will focus on the 13 disclosing companies. the last column in panel b of table 3 shows that, in total, 163 items are disclosed by the 13 reporting companies. furthermore, panel b illustrates that only 8.0% of all items are covered by a ma disclosure, while 65.0% of all items are covered by a vg disclosure. about 33.1% of the items is a pi provided. column a in table 4 overview of the level of comprehensive reporting (a) and level of cooccurrence of the qualitative information types (b) illustrates that, for almost all of the disclosing companies (92.3%), the level of comprehensive reporting is zero because they fail to provide all three information types for at least one reported item. for only one company, the level of comprehensive reporting is greater than zero but smaller than or equal to 0.1. column b in table 4 overview of the level of comprehensive reporting (a) and level of co-occurrence of the qualitative information types (b) describes the level of co-occurrence of the narrative categories – vg and ma. even so, more than 80% of the reporting companies fail to provide both information types for at least one of their disclosed items. for only 2 companies, the level of co-occurrence is greater than zero but smaller than 0.1. the findings raise the question: do the isolated disclosures inform the stakeholders on aims and intentions or on specific actions? in total, 163 separate csr items are disclosed by the 13 disclosing companies. table 5 overview of the information types and their combinations in total and per area shows the information types in which these items are covered. as such, table 5 overview of the information types and their combinations in total and per area answers the second question by illustrating that isolated disclosures mostly inform the stakeholders on specific actions because 5.5% of the total number of items disclosed 128 journal the winners, vol. 15 no. 2, september 2014: 123-139 by all reporting companies are only covered by a ma disclosure; ‘isolated’ vg disclosures occur more than ten times as often (60.1%). by illustrating that the frequency of the information types and their combinations are different, table 5 overview of the information types and their combinations in total and per area shows that the level of comprehensive reporting is very low. more specifically, only in the area of economic is one (3.8%) of the disclosed items covered by all three information types. to reveal whether the preferred information types differ between the items, table 6 overview of information types and their combinations per item reports (i) the number of companies that report on a certain item and (ii) how these companies disclose that item, i.e., by providing all three information types, two information types, or only one information type. table 6 overview of information types and their combinations per item confirms that economic performance item is typically only covered by pi disclosures (69.2%). nearly all environmental items are mostly covered only by vg disclosures. most disclosing companies provide only vg disclosures regarding the items about labor practices and decent work performance. none of the companies reveal all three information types on one or more items in the areas of human rights, product responsibility and society. most companies report only vg information on the human rights, society and product responsibility items they disclose. conclusion although the content analysis framework developed through this research can be used to assess the completeness and comprehensiveness of reporting csr and various other research questions, it is necessary to discuss the limitations that may provide opportunities for future research. first, this study did not evaluate the overall quality of disclosures, nor did it determine the credibility of disclosures. thus, this study focused only on the two terms of accountability, i.e., completeness and comprehensiveness. this focus means that even though the company reported all three types of information, disclosure can still be chosen to reflect on the good things the company concerned. future research could be conducted to determine whether there is a relationship between a comprehensive reporting and csr performance. second, in this study, a number of items is used to obtain an indication of csr disclosure completeness. but, csr items included in the analysis cannot be considered a complete list of items that must be reported by the company. instead, it is a list of csr items, which according to the gri guidelines contains items that can be disclosed by each company. some items that may be relevant to a particular company may not be listed in the proposed disclosure. completeness of reporting can only be assessed by considering the supporting evidence of user information. by using survey research in detail and in-depth interviews, future research may (i) examine the demanded detailed information from various stakeholders and (ii) study the extent to which these stakeholders feel their information needs are met. references adams, c. a. 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(2003). the role of the global reporting initiative’s sustainability reporting guidelines in the social screening of investments. journal of business ethics, 43(3), 233–237. 130 journal the winners, vol. 15 no. 2, september 2014: 123-139 appendix dimension 1: content dimension 2: information types figure 1 the coding structure areas items economic  economic performance  market presence  indirect economic impacts environmental performance  materials  energy  water  biodiversity  emissions, effluents and waste  products and services  compliance  transport  overall labor practices and decent work performance  employment  labor / management relations  occupational health and safety  training and education  diversity and equal opportunity  equal remunerator for women and men human rights  investment and procurement practices  non-discrimination  freedom of association and collective bargaining  child labor  forced and compulsory labor  security practices  indigenous rights  assessment  remediation society  local communities  corruption  public policy  anti-competitive behavior  compliance product responsibility  customer health and safety  product and service labeling  marketing communications  customer privacy  compliance figure 2 the gri g3.1 as reference for the dimension content level 1: areas level 2: items economic environmental performance human rights labor practices and decent work product responsibility society employment labor / management relations occupational health and safety training and education diversity and equal opportunity equal remunerator for women and men vg ma vg ma pi ma pi pi vg corporate social reporting..... (rosinta ria panggabean; dkk) 131 table 2 the gri g3.1 as reference for the dimension information types items information types component economic performance vg goals policy ma additional contextual information pi ec 1 direct economic value generated and distributed, including revenues, operating costs, employee compensation, donations and other community investments, retained earnings, and payments to capital providers and governments. ec 2 financial implications and other risks and opportunities for the organization’s activities due to climate change. ec 3 coverage of the organization’s defined benefit plan obligations. ec 4 significant financial assistance received from government. market presence vg goals policy ma additional contextual information pi ec 5 range of ratios of standard entry level wage by gender compared to local minimum wage at significant locations of operation. ec 6 policy, practices, and proportion of spending on locally-based suppliers at significant locations of operations ec 7 procedures for local hiring and proportion of senior management hired from the local community at significant locations of operations indirect economic impacts vg goals policy ma additional contextual information pi ec 8 development and impact of infrastructure investment and services provided primarily for public benefit through commercial, in-kind or pro bono engagement. ec 9 understanding and describing significant indirect economic impact, including the extent of impacts. og 1 volume and type of estimated proved reserves and production. materials vg goals policy ma organizational responsibility training and awareness monitoring and follow-up additional contextual information pi en 1 materials used by weight or volume. en 2 percentage of materials used that are recycled input materials. energy vg goals policy ma organizational responsibility training and awareness monitoring and follow-up additional contextual information pi en 3 direct energy consumption by primary energy source. og 2 total amount invested in renewable energy. og 3 total amount of renewable energy generated by source. en 4 indirect energy consumption by primary source. en 5 energy saved due to conservation and efficiency improvements. en 6 initiatives to provide energy-efficient or renewable energy based products and services, and reductions in energy requirements as a result of these initiatives. en 7 initiatives to reduce indirect energy consumption and reductions achieved. water vg goals policy ma organizational responsibility training and awareness monitoring and follow-up additional contextual information pi en 8 total water withdrawal by source. en 9 water sources significantly affected by withdrawal of water. en 10 percentage and total volume of water recycled and reused. 132 journal the winners, vol. 15 no. 2, september 2014: 123-139 table 2 the gri g3.1 as reference for the dimension information types (continued) items information types component biodiversity vg goals policy ma organizational responsibility training and awareness monitoring and follow-up additional contextual information pi en 11 location and size of land owned, leased, managed in, or adjacent to, protected areas and areas of high biodiversity value outside protected areas. en 12 description of significant impacts of activities, products, and services on biodiversity in protected areas and areas of high biodiversity value outside protected areas. mm 1 amount of land (owned or leased, and managed for production activities or extractive use) disturbed or rehabilitated. en 13 habitats protected or restored. en 14 strategies, current actions, and future plans for managing impacts on biodiversity. og 4 number and percentage of significant operating sites in which biodiversity risk has been assessed and monitored. mm 2 the number and percentage of total sites identified as requiring biodiversity management plans according to stated criteria, and the number (percentage) of those sites with plans in place. en 15 number of iucn red list species and national conservation list species with habitats in areas affected by operations, by level of extinction risk. emissions, effluents and waste vg goals policy ma organizational responsibility training and awareness monitoring and follow-up additional contextual information pi en 16 total direct and indirect greenhouse gas emissions by weight. en 17 other relevant indirect greenhouse gas emissions by weight. en 18 initiatives to reduce greenhouse gas emissions and reductions achieved. en 19 emissions of ozone-depleting substances by weight. en 20 no, so, and other significant air emissions by type and weight. en 21 total water discharge by quality and destination. og 5 volume and disposal of formation or produced water. en 22 total weight of waste by type and disposal method. mm 3 total amounts of overburden, rock, tailings, and sludges and their associated risks. en 23 total number and volume of significant spills. og 6 volume of flared and vented hydrocarbon. og 7 amount of drilling waste (drill mud and cuttings) and strategies for treatment and disposal. en 24 weight of transported, imported, exported, or treated waste deemed hazardous under the terms of the basel convention annex i, ii, iii, and viii, and percentage of transported waste shipped internationally. en 25 identity, size, protected status, and biodiversity value of water bodies and related habitats significantly affected by the reporting organization’s discharges of water and runoff. product and services vg goals policy ma organizational responsibility training and awareness monitoring and follow-up additional contextual information pi en 26 initiatives to mitigate environmental impacts of products and services, and extent of impact mitigation. og 8 benzene, lead and sulfur content in fuels. percentage of products sold and their packaging materials that are reclaimed by category. en 27 percentage of products sold and their packaging materials that are reclaimed by category. compliance vg goals policy ma organizational responsibility training and awareness monitoring and follow-up additional contextual information pi en 28 monetary value of significant fines and total number of non-monetary sanctions for noncompliance with environmental laws and regulations. corporate social reporting..... (rosinta ria panggabean; dkk) 133 table 2 the gri g3.1 as reference for the dimension information types (continued) items information types component transport vg goals policy ma organizational responsibility training and awareness monitoring and follow-up additional contextual information pi en 29 significant environmental impacts of transporting products and other goods and materials used for the organization’s operations, and transporting members of the workforce. overall vg goals policy ma organizational responsibility training and awareness monitoring and follow-up additional contextual information pi en 30 total environmental protection expenditures and investments by type. employment vg goals policy ma organizational responsibility training and awareness monitoring and follow-up additional contextual information pi la 1 total workforce by employment type, employment contract, and region, broken down by gender. la 2 total number and rate of new employee hires and employee turnover by age group, gender, and region. la 3 benefits provided to full-time employees that are not provided to temporary or part-time employees, by significant locations of operation. la 15 return to work and retention rates after parental leave, by gender. labor/manag ement relations vg goals policy ma organizational responsibility training and awareness monitoring and follow-up additional contextual information pi la 4 percentage of employees covered by collective bargaining agreements. la 5 minimum notice period(s) regarding operational changes, including whether it is specified in collective agreements. mm 4 number of strikes and lock-outs exceeding one week’s duration, by country occupational health and safety vg goals policy ma organizational responsibility training and awareness monitoring and follow-up additional contextual information pi la 6 percentage of total workforce represented in formal joint management–worker health and safety committees that help monitor and advice on occupational health and safety programs. la 7 rates of injury, occupational diseases, lost days, and absenteeism, and total number of work-related fatalities, by region and by gender. la 8 education, training, counseling, prevention, and risk-control programs in place to assist workforce members, their families, or community members regarding serious diseases. la 9 health and safety topics covered in formal agreements with trade unions. training and education vg goals policy ma organizational responsibility training and awareness monitoring and follow-up additional contextual information pi la 10 average hours of training per year per employee by gender, and by employee category. la 11 programs for skills management and lifelong learning that support the continued employability of employees and assist them in managing career endings. la 12 percentage of employees receiving regular performance and career development reviews, by gender. 134 journal the winners, vol. 15 no. 2, september 2014: 123-139 table 2 the gri g3.1 as reference for the dimension information types (continued) items information types component diversity and equal opportunity vg goals policy ma organizational responsibility training and awareness monitoring and follow-up additional contextual information pi la 13 composition of governance bodies and breakdown of employees per employee category according to gender, age group, minority group membership, and other, indicators of diversity. equal remunerator for women and men vg goals policy ma organizational responsibility training and awareness monitoring and follow-up additional contextual information pi la 14 ratio of basic salary and remuneration of women to men by employee category, by significant locations of operation. investment and procurement practices vg goals policy ma organizational risk assessment impact assessment organizational responsibility training and awareness monitoring, follow-up, and remediation additional contextual information pi hr 1 percentage and total number of significant investment agreements and contracts that include clauses incorporating human rights concerns or that have undergone human rights screening. hr 2 percentage of significant suppliers, contractors, and other business partners that have undergone human rights screening, and actions taken. hr 3 total hours of employee training on policies and procedures concerning aspects of human rights that are relevant to operations, including the percentage of employees trained. nondiscrimination vg goals policy ma organizational risk assessment impact assessment organizational responsibility training and awareness monitoring, follow-up, and remediation additional contextual information pi hr 4 total number of incidents of discrimination and corrective actions taken. freedom of association and collective bargaining vg goals policy ma organizational risk assessment impact assessment organizational responsibility training and awareness monitoring, follow-up, and remediation additional contextual information pi hr 5 operations and significant suppliers identified in which the right to exercise freedom of association or collective bargaining may be violated or at significant risk, and actions taken to support these rights. child labor vg goals policy ma organizational risk assessment impact assessment organizational responsibility training and awareness monitoring, follow-up, and remediation additional contextual information pi hr 6 operations and significant suppliers identified as having significant risk for incidents of child labor, and measures taken to contribute to the effective abolition of child labor. corporate social reporting..... (rosinta ria panggabean; dkk) 135 table 2 the gri g3.1 as reference for the dimension information types (continued) items information types component forced and compulsory labor vg goals policy ma organizational risk assessment impact assessment organizational responsibility training and awareness monitoring, follow-up, and remediation additional contextual information pi hr 7 operations and significant suppliers identified as having significant risk for incidents of forced or compulsory labor, and measures taken to contribute to the elimination of all forms of forced or compulsory labor. security practises vg goals policy ma organizational risk assessment impact assessment organizational responsibility training and awareness monitoring, follow-up, and remediation additional contextual information pi hr 8 percentage of security personnel trained in the organization’s policies or procedures concerning aspects of human rights that are relevant to operations. mm 5 total number of operations taking place in or adjacent to indigenous peoples’ territories, and number and percentage of operations or sites where there are formal agreements with indigenous peoples’ communities. indigenous rights vg goals policy ma organizational risk assessment impact assessment organizational responsibility training and awareness monitoring, follow-up, and remediation additional contextual information pi hr 9 total number of incidents of violations involving rights of indigenous people and actions taken. og 9 operations where indigenous communities are present or affected by activities and where specific engagement strategies are in place. assessment vg goals policy ma organizational risk assessment impact assessment organizational responsibility training and awareness monitoring, follow-up, and remediation additional contextual information pi hr 10 percentage and total number of operations that have been subject to human rights reviews and/or impact assessments. remediation vg goals policy ma organizational risk assessment impact assessment organizational responsibility training and awareness monitoring, follow-up, and remediation additional contextual information pi hr 11 number of grievances related to human rights filed, addressed, and resolved through formal grievance mechanism. 136 journal the winners, vol. 15 no. 2, september 2014: 123-139 table 2 the gri g3.1 as reference for the dimension information types (continued) items information types component local communities vg goals policy ma organizational responsibility training and awareness monitoring and follow-up additional contextual information pi so 1 percentage of operations with implemented local community engagement, impact assessments, and development programs. mm 6 number and description of significant disputes relating to land use, customary rights of local communities and indigenous peoples. mm 7 the extent to which grievance mechanisms were used to resolved disputes relating to land use, customary rights of local communities and indigenous peoples, and the outcomes. mm 8 number (and percentage) of company operating sites where artisanal and small-scale mining (asm) takes place on, or adjacent to, the site; the associated risks and the actions taken to manage and mitigate these risks. mm 9 sites where resettlements took place, the number of households resettled in each, and how their livelihoods were affected in the process. mm 10 number and percentage of operations with closure plans. so 9 operations with significant potential or actual negative impacts on local communities. so 10 prevention and mitigation measures implemented in operations with significant potential or actual negative impacts on local communities. og 10 number and description of significant disputes with local communities and indigenous peoples. og 11 number of sites that have been decommissioned and sites that are in the process of being decommissioned. corruption vg goals policy ma organizational responsibility training and awareness monitoring and follow-up additional contextual information pi so 2 percentage and total number of business units analyzed for risks related to corruption. so 3 percentage of employees trained in organization’s anti-corruption policies and procedures. so 4 actions taken in response to incidents of corruption. public policy vg goals policy ma organizational responsibility training and awareness monitoring and follow-up additional contextual information pi so 5 public policy positions and participation in public policy development and lobbying. so 6 total value of financial and in kind contributions to political parties, politicians, and related institutions by country. anti competitive behavior vg goals policy ma organizational responsibility training and awareness monitoring and follow-up additional contextual information pi so 7 total number of legal actions for anti-competitive behavior, anti-trust, and monopoly practices and their outcomes. compliance vg goals policy ma organizational responsibility training and awareness monitoring and follow-up additional contextual information pi so 8 monetary value of significant fines and total number of non-monetary sanctions for non-compliance with laws and regulations. og 12 operations where involuntary resettlement took place, the number of households resettled in each and how their livelihoods were affected in the process. og 13 number of process safety events, by business activity. mm 11 programs and progress relating to materials stewardship. corporate social reporting..... (rosinta ria panggabean; dkk) 137 table 2 the gri g3.1 as reference for the dimension information types (continued) items information types component customer health and safety vg goals policy ma organizational responsibility training and awareness monitoring and follow-up additional contextual information pi pr 1 life cycle stages in which health and safety impacts of products and services are assessed for improvement, and percentage of significant products and services categories subject to such procedures. pr 2 total number of incidents of non-compliance with regulations and voluntary codes concerning health and safety impacts of products and services during their life cycle, by type of outcomes. product and service labeling vg goals policy ma organizational responsibility training and awareness monitoring and follow-up additional contextual information pi pr 3 type of product and service information required by procedures, and percentage of significant products and services subject to such information requirements. pr 4 total number of incidents of non-compliance with regulations and voluntary codes concerning product and service information and labeling, by type of outcomes. pr 5 practices related to customer satisfaction, including results of surveys measuring customer satisfaction. marketing communications vg goals policy ma organizational responsibility training and awareness monitoring and follow-up additional contextual information pi pr 6 programs for adherence to laws, standards, and voluntary codes related to marketing communications, including advertising, promotion, and sponsorship. pr 7 total number of incidents of non-compliance with regulations and voluntary codes concerning marketing communications, including advertising, promotion, and sponsorship by type of outcomes. customer privacy vg goals policy ma organizational responsibility training and awareness monitoring and follow-up additional contextual information pi pr 8 total number of substantiated complaints regarding breaches of customer privacy and losses of customer data. compliance vg goals policy ma organizational responsibility training and awareness monitoring and follow-up additional contextual information pi pr 9 monetary value of significant fines for noncompliance with laws and regulations concerning the provision and use of products and services. og 14 volume of bio fuels produced and purchased meeting sustainability criteria. source: data processing result 138 journal the winners, vol. 15 no. 2, september 2014: 123-139 table 3 main characteristics of csr reporting in indonesia panel a (n=13) discloses information in the area number of disclosing companies number of non-disclosing companies total number of companies n % n % n % economic environmental performance labor practices and decent work performance human rights society product responsibility 13 7 7 5 5 4 100.0 53.8 53.8 38.5 38.5 30.8 0 6 6 8 8 9 0.0 46.2 46.2 61.5 61.5 69.2 13 13 13 13 13 13 100.0 100.0 100.0 100.0 100.0 100.0 panel b (n=13) information types number of items covered by number of items not covered by total number of items n % n % n % vision and goals management approach performance indicators 106 13 54 65.0 8.0 33.1 57 150 109 35.0 92.0 66.9 163 163 163 100.0 100.0 100.0 data processing result table 4 overview of the level of comprehensive reporting (a) and level of co-occurrence of the qualitative information types (b) level of co-occurrence of the information types (x) (n=13) vg and ma and pi (a) vg and ma (b) n % n % x = 0 0 < x < 0.1 0.1 < x < 0.2 0.2 < x < 0.3 0.3 < x < 0.4 0.4 < x < 0.5 x = 0.5 0.5 < x < 0.6 0.6 < x < 0.7 0.7 < x < 0.8 0.8 < x < 0.9 0.9 < x < 1 x = 1 total 12 1 0 0 0 0 0 0 0 0 0 0 0 13 92.3 7.7 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 100.0 11 2 0 0 0 0 0 0 0 0 0 0 0 13 84.6 15.4 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 100.0 source: data processing result table 5 overview of the information types and their combinations in total and per area item is covered in the following way: total (n=163) economic (n=26) environmental performance (n=38) labor practices and decent work performance (n=23) human rights (n=38) society (n=22) product responsibility (n=16) n % n % n % n % n % n % n % vg and ma and pi vg and ma ma and pi vg and pi only ma only vg only pi 1 2 1 5 9 98 47 0.6 1.2 0.6 3.1 5.5 60.1 28.9 1 1 0 2 3 6 13 3.8 3.8 0.0 7.7 11.6 23.1 50.0 0 0 1 0 2 25 10 0.0 0.0 2.6 0.0 5.3 65.8 26.3 0 1 0 3 2 13 4 0.0 4.3 0.0 13.0 8.6 56.5 29.3 0 0 0 0 1 27 10 0.0 0.0 0.0 0.0 2.6 71.1 26.3 0 0 0 0 1 16 5 0.0 0.0 0.0 0.0 4.5 72.7 22.8 0 0 0 0 0 11 5 0.0 0.0 0.0 0.0 0.0 68.7 31.3 source: data processing results corporate social reporting..... (rosinta ria panggabean; dkk) 139 table 6 overview of information types and their combinations per item number of disclosing companies total vg and ma and pi vg and ma ma and pi vg and pi only ma only vg only pi n % n % n % n % n % n % n % economic economic performance market presence indirect economic impacts 13 5 8 1 0 0 7.7 0.0 0.0 0 1 0 0.0 20.0 0.0 0 0 0 0.0 0.0 0.0 2 0 0 15.4 0.0 0.0 0 0 3 0.0 0.0 37.5 1 2 3 7.7 40.0 37.5 9 2 2 69.2 40.0 25.0 environmental performance materials energy water biodiversity emissions, effluents and waste products and services compliance transport overall 5 5 5 7 5 2 3 3 3 0 0 0 0 0 0 0 0 0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0 0 0 0 0 0 0 0 0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0 0 0 1 0 0 0 0 0 0.0 0.0 0.0 14.3 0.0 0.0 0.0 0.0 0.0 0 0 0 0 0 0 0 0 0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 1 0 0 0 0 0 1 0 0 20.0 0.0 0.0 0.0 0.0 0.0 33.3 0.0 0.0 3 3 4 4 3 1 2 3 2 60.0 60.0 80.0 57.1 60.0 50.0 66.7 100.0 66.7 1 2 1 2 2 1 0 0 1 20.0 40.0 20.0 28.6 40.0 50.0 0.0 0.0 33.3 labor practices and decent work performance employment labor / management relations occupational health and safety training and education diversity and equal opportunity equal remunerator for women and men 5 4 5 2 4 3 0 0 0 0 0 0 0.0 0.0 0.0 0.0 0.0 0.0 0 0 1 0 0 0 0.0 0.0 20.0 0.0 0.0 0.0 0 0 0 0 0 0 0.0 0.0 0.0 0.0 0.0 0.0 1 1 1 0 0 0 20.0 25.0 20.0 0.0 0.0 0.0 1 1 0 0 0 0 20.0 25.0 0.0 0.0 0.0 0.0 1 2 3 1 3 3 20.0 50.0 60.0 50.0 75.0 100.0 2 0 0 1 1 0 40.0 0.0 0.0 50.0 25.0 0.0 human rights investment and procurement practices non-discrimination freedom of association and collective bargaining child labor forced and compulsory labor security practices indigenous rights assessment remediation 4 4 4 4 5 4 4 5 4 0 0 0 0 0 0 0 0 0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0 0 0 0 0 0 0 0 0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0 0 0 0 0 0 0 0 0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0 0 0 0 0 0 0 0 0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0 0 0 0 0 0 0 1 0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 20.0 0.0 3 3 3 3 3 3 3 3 3 75.0 75.0 75.0 75.0 60.0 75.0 75.0 60.0 75.0 1 1 1 1 2 1 1 1 1 25.0 25.0 25.0 25.0 40.0 25.0 25.0 20.0 25.0 society local communities corruption public policy anti-competitive behavior compliance 5 4 4 5 4 0 0 0 0 0 0.0 0.0 0.0 0.0 0.0 0 0 0 0 0 0.0 0.0 0.0 0.0 0.0 0 0 0 0 0 0.0 0.0 0.0 0.0 0.0 0 0 0 0 0 0.0 0.0 0.0 0.0 0.0 0 0 0 1 0 0.0 0.0 0.0 20.0 0.0 4 3 3 3 3 80.0 75.0 75.0 60.0 75.0 1 1 1 1 1 20.0 25.0 25.0 20.0 25.0 product responsibility customer health and safety product and service labeling marketing communications customer privacy compliance 2 4 4 3 3 0 0 0 0 0 0.0 0.0 0.0 0.0 0.0 0 0 0 0 0 0.0 0.0 0.0 0.0 0.0 0 0 0 0 0 0.0 0.0 0.0 0.0 0.0 0 0 0 0 0 0.0 0.0 0.0 0.0 0.0 0 0 0 0 0 0.0 0.0 0.0 0.0 0.0 1 3 3 2 2 50.0 75.0 75.0 66.7 66.7 1 1 1 1 1 50.0 25.0 25.0 33.3 33.3 source: data processing result editor in chief rudy aryanto managing editors engkos achmad kuncoro (binus university, jakarta) idris gautama so (binus university, jakarta) yasintha soelasih (atma jaya university, jakarta) levyda (sahid university, jakarta) agus zainul arifin (tarumanagara university, jakarta) executive editors arta moro sundjaja noerlina editor/setter dina nurfitria karen phang holil atmawati secretariat haryo sutanto eka yanti pangputri administration address research and technology transfer office binus university anggrek campus, jl.kebon jeruk raya 27 kebon jeruk, jakarta barat 11530 ph. 021-5350660 ext. 1708 email: hsutanto@binus.edu, raryanto@binus.edu publication & issn published twice a year (march and september) p-issn: 1412-1212 e-issn: 2541-2388 vol. 17 no. 2 september 2016 economic, business, management, and information system journal winnersthe journal p-issn 1412-1212 e-issn 2541-2388 contents eka sari budihastuti; arif yusuf hamali the relationship between leadership and teachers’ performance at state vocational high school “x” bandung .............................................................................. 77-89 agustini hamid analysis of dynamic portfolio allocation of indonesian lq45 during 2005 – 2011 following the markowitz theory ............................................................. ................................ 91-101 son wandrial the relationship of mbti and student gpa score in binus management class 2015.................................. 103-112 kriswanto share price analyst with pbv, der, and eps at initial public offering................................................... 113-123 jonny improving the average session evaluation score of supervisory program by using pdca cycle at pt xyz........ 125-132 irma nadia erena; engelwati gani comparative analysis of conventional method with activity based costing in pt mulia sejati gallery............ 133-142 danang prihandoko the influence of brand relationship, brand satisfaction, and perceived price towards brand loyalty in pt x’s customer, indonesia ............................................................................... 143-154 marina wardaya marketing communication strategy through social media to increase children books .............................. 155-163 index.............................................................................................................................. 165-168 journal p-issn 1412-1212 e-issn 2541-2388 vol. 17 no. 2 september 2016 economic, business, management, and information system journal winnersthe issn 1412-1212 winners the vol. 13 no. 2 september 2012 economic, business, management, and information system journal journal pelindung rektor binus university prof. dr. ir. harjanto prabowo, mm redaktur utama rudy aryanto, se., mm dewan redaksi dr. engkos achmad kuncoro, se., mm idris gautama so, se., s.kom., mm., mba., phd gatot soepriyanto, se., ak, m.buss vitria ariani, apar., ba., msc robertus tang herman, se., mm ir. dyah budiastuti, mm hartiwi prabowo, se., mm mitra bestari prof. dr. faisal afiff, se., spec.lic (padjadjaran university) prof. dr. m. yuwana mardjuka (sahid university) prof. dr. mt. arief, se., mm (stie kusumanegara) prof. dr. nizam jim wiryawan (bunda mulia university) prof. dr. ahmad rodoni (uin syarief hidayatullah university) prof. dr. ir. musa hubeis, dipl.ing, dea (ipb university) dr. iyus wiadi, mpa (paramadina university) ir. muhril ardiansyah, phd (swiss german university) erwin ramedhan, phd (president university) m. qudrat nugraha, msi., phd (muhammadiyah hamka university) dr. rina astini, se., mm (mercu buana university) dr. ir. edy supriyadi, mm (pancasila university) dr. dewa putu oka prasiasa, st.par., mm (stp sahid) dr. ford lumban gaol (stmik jibes) dr. zulganef, msi (widyatama university) dr. parwanto (depdiknas ri) editor/setter dra. endang ernawati, m.lib. nuriana firda, s.s. i. didimus manulang, s.s. sari oktaviani angga ferdiansyah, s.kom sekretariat holil, s.kom alamat redaksi direktorat riset dan hki universitas bina nusantara kampus anggrek, jl.kebon jeruk raya 27 kebon jeruk, jakarta barat 11530 telp. 021-5350660 ext. 1189 fax. 021-5300244 email: holil@binus.edu, raryanto@binus.edu terbit & issn terbit 2 (dua) kali dalam setahun (maret dan september) issn: 1412-1212 vol. 13 no. 2 september 2012 winners the issn 1412-1212 journal economic, business, management, and information system journal daftar isi linda santioso; yenny faktor-faktor yang mempengaruhi kelengkapan pengungkapan wajib dalam laporan keuangan pada perusahaan manufaktur yang terdaftar di bei (factors affecting the completion of mandatory disclosures in the financial statements of manufacturing companies listed in indonesia stock exchange) .................. 81-92 tubagus ismail; darjat sudrajat interactive control system, intended strategy, implemented strategy dan emergent strategy 93-105 andreas chang utaut and utaut 2: a review and agenda for future research .................................... 106-114 dwi efrarin purnamadita; dian tauriana customer intention toward theme park: the mediating role of customer attitude on the impact of service quality and experiential marketing ........................................... 115-126 menara simanjuntak; haryadi sarjono analysis, reconstruction and establishment tourist destination in toba samosir, north sumatera, indonesia ................................................................................ 127-134 junaidi; cahyanti sih triyatmi financial and non financial factors on going-concern opinion .................................... 135-146 enggal sriwardiningsih how does the global economy crisis influence in managing investment in indonesia ........... 147-155 silvy fauziah; rudy aryanto consumer preferences toward marine tourism area .................................................. 156-164 indeks......................................................................................................... 165-169 microsoft word 02_budiman notoatmojo_optimasi.doc journal the winners, vol. 2 no. 1, maret 2001: 12-17 12 optimasi pengembangan embung di indonesia budiman notoatmojo1; rudi rivai2 abstract article performs the optimation of embung utilization in indonesia, especially in ntt province. it is a descriptive using farmer as respondents who use embung as source of drinking water, irrigation, drinking water and field irrigation, as well as drinking water and farm irrigation. it is concluded that embung is a source of developing horticulture in the urban areas. keywords : embung, embung optimation abstrak artikel menjelaskan optimasi pengembangan embung di indonesia, khususnya di provinsi nusa tenggara timur. penelitian ini menggunakan petani sebagai responden yang menggunakan embung sebagai sumber air minum, irigasi, air minum dan irigasi. disimpulkan bahwa embung adalah sumber pengembangan holtikultura di daerah urban. kata kunci: embung, optimasi embung 1 peneliti senior balitbang deptan ri & staf pengajar fakultas ekonomi, ubinus, jakarta 2 sarjana ekonomi, jurusan manajemen, fakultas ekonomi, ubinus, jakarta optimasi pengembangan embung di indonesia (budiman notoatmojo; rudi rivai) 13 pendahuluan ntt merupakan bumi indonesia bagian timur yang menganggap air sebagai sumber kehidupan bagi bumi yang gersang dan rakyat yang miskin di bumi nusantara. sebagai propinsi kepulauan (566 pulau dengan hunian hanya pada 42 pulau) setelah maluku, ntt dihadapkan pada kenyataan resource endowment yang kurang subur, sempit, berbatu, dan beriklim kering. oleh karena itu, air sebagai anugerah tuhan mempunyai nilai ekonomis yang tinggi bagi masyarakat ntt sehingga pemerintah pusat sejak tahun 1990 mulai mengembangkan usaha embung di daerah ntt untuk pengadaan air minum dan irigasi (istiqal, 1999). sebetulnya, sistem perembungan untuk ntt, mulai dikembangkan pemerintah daerah pada tahun 1980 bekerja sama dengan oleh pemerintah australia untuk proyek pengembangan peternakan. embung diusahakan sebagai sumber air minum ternak, pemerintah. bahkan di daerah ntb, embung sudah dikembangkan sejak lama sekali. oleh karena itu, sangat aneh sekali kalau embung dikembangkan di ntt sehingga kombinasi penggunaan air tanah sebagai sumber air embung merupakan alternatif yang cukup baik. lokasi embung dapat terletak di daerah yang cukup tinggi untuk sumber air minum dan irigasi. potensi tersebut ternyata cukup besar di ntt sehingga masalah kesinambungan dan biaya o&p yang rendah serta keuntungan maksimal dapat dilaksanakan dengan baik. masalah yang dihadapi di ntt di daerah perkotaan adalah air minum, irigasi, dan produksi sayuran. oleh karena itu, salah satu tujuan utama proyek ptsl dan spl adalah membangun, merehabilitasi, dan mengembangkan embung. tujuan artikel adalah meneliti sampai berapa jauh pengembangan embung dapat meningkatkan pendapatan, kesejahteraan petani, kecukupan kehudupan air minum dan irigasi untuk tanaman pangan dan hortikultura serata berkelanjutan dan mandiri. metodologi penelitian pembangunan berkelanjutan menurut golubev (1993) adalah sistem pembangunan yang merangkum usaha pencernaan, penyusunan kebijakan, dan implementasi tindakan untuk memperoleh kehidupan yang lebih baik pada saat sekarang maupun bagi generasi akan datang. dengan dasar pendekatan tersebut, pengembangan embung harus dapat bermanfaat bagi penggunanya secara lestari berkesinambungan dan berkelanjutan. oleh karena itu, akan ada 3 indikator utama yang dilihat ialah dari sisi teknis, sisi ekonomi, dan sisi sosial. (arief et al.,1999). metode analisis studi dilakukan dengan metode deskriptif daerah penelitian yang dipilih adalah lokasi proyek ptsl dit jen pengairan di daerah timor, ntt. sejumlah embung telah beroperasi pada lahan yang kering. terdapat empat macam embung ialah embung yang dipakai hanya untuk air minum, embung yang dipakai untuk air minum, dan irigasi lahan. selain itu, pemilihan sampel petani atau kepala keluarga (152 responden) didasarkan pada variasi kondisi yang ada seperti, sifat fisik dan lingkungan, pola usaha tani, jarak lokasi embung dengan lokasi perumahan, macam embung, dan lama operasi. akhirnya telah terpilih 8 buah embung yang terletak di 8 kecamatan. embung dan respondennya sebagai berikut. 1. embung untuk air minum: waelamas (16) dan kolhua (15) 2. embung untuk irigasi lahan: timor tua (18), ambei leo (14) journal the winners, vol. 2 no. 1, maret 2001: 12-17 14 3. embung untuk air minum dan irigasi pekarangan: padangsui (18), bhone(17) 4. embung untuk air minum dan irigasi lahan: oesao tiol (18), napi (20) petani atau kepala keluarga responden dipilih secara acak dari populasi responden yang memanfaatkan air embung. selain data primer yang diambil melalui wawancara, data sekunder yang dikumpulkan melalui kunjungan dan diskusi dengan para pejabat dari dinas pertanian, pengairan, pemda, dan sebagainya. pembahasan dari hasil analisis data dan informasi selama studi, diperoleh rincian hasil penelitian yang terbagi atas berikut ini. analisis sosial dari analisis data primer dan sekunder terlihat, o&p merupakan kata kunci dalam menangani masalah sustainability embung. sedangkan, masalah o&p sangat berhubungan dengan masalah water management dan hal tersebut sangat menentukan dalan masalah water scarcity (sexton, r.1990). oleh karena itu, studi ini akan menguraikan hubungannya dengan masalah perencanaan, pelaksanaannya, pembiayaan, dan institusinya. hasil studi menunjukkan hal berikut. macam embung indikator sosial embung air minum embung irigasi embung air minum & irigasi pekarangan embung air minum & irigasi lahan peremcanaan pusat , tidak ada partisipasi dari beneficiaries pengairan, tak ada partisipasi petani pengairan & tak ada partisipasi penduduk pengairan & tak ada partisipasi petani design idem idem idem idem pelaksanaan idem idem idem idem water managemen diserahkan ke kepala diserahkan ke kelompok diserahkan ke ketua rt diserahkan ke kelompok tani tanggapan dan saran stakeholder dan beneficeries lainnya dari hasil survei menunjukkan hal berikut. optimasi pengembangan embung di indonesia (budiman notoatmojo; rudi rivai) 15 macam embung indikaotor o&p embung air minum embung irigasi embung air minum & irigasi pekarangan embung air minum & irigasi lahan perencanaan partisipasi, bottom–up. kiss horizontal & vertikal paritisipasi, bottomup. kiss horizontal & vertikal partisipasi, bottomup. kiss horizontal & vertikal partisipasi, bottom up. kiss horizontal & vertikal design partisipasi layout partisipasi layout partisipasi layout partisipasi layout pelaksanaan partisipasi tenaga, pengawasan partisipasi layout pengawasan partisipasi layout pengawasan partisipasi layout pengawasan water managemen manajemen oleh rt & kampung manajemen kelompok tani manajemen oleh rt & kampung manajemen rt & kelompok tani o&p jaringan oleh rt, embung pu+rt jaringan oleh kelompok tani, embung oleh jaringan oleh rt,embung oleh pu+rt jaringan oleh rt+klp tani, embung oleh klp tani +pu+rt pembiayaan hak air rp 5230/kk/bl komunal pu+klp tani rp 6700/kk/bl komunal rp 8410/kk/bl komunal rp 12150/kk/bl komunal analsis ekonomis berdasarkan hasil survei diadakan analisis kelayakan dan keuntungan dari tiap embung yang kemudian dikelompokan dalam bermacam embung. data analsis usaha tani merupakan data pendukung yang sangat penting untuk perhitungan kedua indikator tersebut. yang sangat menarik adalah ternyata penduduk sekitar perkotaan khususnya, kupang yang telah mendapatkan fasilitas air embung untuk air minum, ternyata memanfaatkan air embung juga untuk berusaha tani sayuran perkotaan (bawang, cabai, sawi dan sebagainya) dalam pot plastik di lahan pekarangannya. pada umumnya, penduduk menanam rata-rata sebanyak 500-1000 pot (mustaid siregar,1998). inovasi itu hasil kerja sama antara bappeda ntt dan puslitbang biologi, lipi dalam proyek ntaadp. rincian indikator ekonomis sebagai berikut. macam embung indikaotor ekon embung air minum embung irigasi embung air minum & irigasi pekarangan embung air minum & irigasi lahan analisis keuntungan/ha rp 164.615 rp 1.101.302 rp 453.577 rp 1.442.236 analisis kelayakan/eirr 8,25 % 19,6 % 16,9% 25,72% journal the winners, vol. 2 no. 1, maret 2001: 12-17 16 analisis teknis analisis teknis dalam studi dipakai indikator nilai efisiensi sistem yang merupakan perbandingan antar nilai penyaluran air dengan nilai pemakaian air. nilai penyaluran air yang dipakai adalah data debit yang disalurkan ke jaringan pemakaian. sedangkan, nilai pemakaian air adalah jumlah air untuk tanaman, air minum dan jumlah air yang hilang selama dalam perjalanan. data kebutuhan air dihitung berdasarkan data evapotranspirasi metoda pennman. data kebutuhan air untuk air minum berdasarkan atas data air minum dari pam setempat. data kehilangan air sepanjang perjalanan, data kebutuhan air untuk tanaman, data debit dan data pam tersebut diambil dari hasil peneltian turik, m (1998). macam embung indikator teknis embung air minum embung irigasi embung air minum & irigasi pekarangan embung air minum & irigasi lahan efisiensi system 61 % 67 % 71 % 76 % penutup simpulan embung merupakan sumber kehidupan baru untuk pengembangan holtikultura di sekitar daerah perkotaan. bahkan, dengan adanya kombinasi pemanfaatan embung untuk air minum dan komoditas sayuran bernilai tinggi di lahan pekarangan (dengan system pot/polybag) akan lebih meningkatkan pendapatan, kesejahteraan penduduk, serta keberlanjutan (sustainability) embung. terlebih bila pemanfaatan untuk irigasi lahan. akan tetapi, hasil studi menunjukkan ternyata dari aspek sosial sangat mempengaruhi keberlanjutan embung (khususnya, bila embung itu hanya dipakai sebagai sumber air minum). terutama masalah partisipasi antarinstitusi (horizontal dan vertikal) dan antara pelaksana, pengelola, dan pemanfaat. yang menjadi persoalan sampai saat ini adalah mengapa kita yang sudah berpengalaman dalam pambangunan dan pengembangan pengairan selama 35 tahun masih dihinggapi dengan masalah partisipasi beneficiaries dan stakeholders, planning dan koordinasi serta kesombongan sektoral? daftar pustaka anonim. 1999. ptsl report. nikppon koui & associates. dgwrd. arif, s.s. dan murtiningrum. 1999. “pemberian nilai pada indikator kinerja untuk keperluan m.e. pengelolaan irigasi air tanah berkelanjutan visi.” irigasi, sumber daya air, lahan dan pembangunan. no.16, maret. optimasi pengembangan embung di indonesia (budiman notoatmojo; rudi rivai) 17 istiqal, a., n. budiman, dan mizwar. 1999. model pengembangan agribisnis, agroindustri wilayah ntt. pt cakra hasta konsultan, maret. sexton, r. 1990. perspective on the middle east water crisis: analysing water scarcity problem in jordan and israel. odi – iimi, dec. siregar, m. 1999. “laporan hasil pengembangan komoditas sayuran dengan sistem pot/polybag di ntt.” puslitbang biologi, lipi , januari. turik, m, 1999. pengembangan pertanian dan air tanah di ntt. dinas pertanian pangan dan holtikultura propinsi ntt. desember. vincent, l. 1990. the politics of water scarcity: irigation and water supply. in the mountains of the yemen republic odi-iimi. desember. accounting, business, management, and information system volume 2, nomor 2, september 2001 issn: 1412 1212 subbiro publikasi ilmiah bidang ekonomi universitas bina nusantara pelindung ir. th. widia soerjaningsih, m.m. once kurniawan, s.kom., m.m. h. mohammad subekti, b.e., m.sc. redaktur utama dr. ir. haryono soeparno, m.sc. dewan redaksi e.a. kuncoro, s.e., m.m. ir. harjanto prabowo, m.m. retno sri handini, s.e., m.phil. mitra bestari dr. hekinus manao, m.acc., c.g.f.m. (universitas indonesia) dr. sudarwan, m.b.a., q.i.a. (universitas trisakti) dr. ir. roy sembel, m.b.a. (program pascasarjana universitas bina nusantara) edi timbul hardiyanto, s.e., ak., m.sc., m.b.a., b.a.p (institut pendidikan internal auditor indonesia) editor dra. endang ernawati, m.lib. sekretariat yanti, s.kom., m.m. triwiyana alamat sekretariat subbiro publikasi ilmiah bidang ekonomi, biro penelitian dan publikasi, universitas bina nusantara kampus syahdan, jl. k.h. syahdan no. 9, kemanggisan palmerah, jakarta barat 11480 telp. (021) 5345830, 5350660 ext. 2206 fax. (021) 5300244 e-mail: mgt2000@binus.ac.id issn 1412-1212 accounting, business, management, and information system volume 2, nomor 2, september 2001 issn: 1412 1212 daftar isi kata pengantar.................................................................................................................. v yulius heavy reliance on the indirect financing as sources of funds for business firms in japan: as a comparison for indonesian financial crisis........................................... 93-106 teguh sriwidadi manajemen mutu terpadu (total quality management)........................................................................................... 107-115 budiman notoatmojo peranan gender dalam usaha tani di kawasan indonesia bagian timur (roles of gender in farmers business in the eastern indonesia).................................... 116-129 haryadi sarjono model pengukuran produktivitas berdasarkan pendekatan rasio output per input (a model of productivity measurement based on output per input approach).............. 130-136 suryanto manajemen lintas budaya (crosscultural management).......................................................................................... 137-150 titik indrawati merger bank bermasalah di indonesia (merger of troubled bank in indonesia)......................................................................... 151-162 fauzi solihin mengenal bank “syariah” lembaga keuangan untuk umum (introducing “syariah” bank as a public financial institution)..................................... 163-171 indeks journal the winners volume 2 tahun 2001......................................... 173-176 kata pengantar journal the winners untuk penerbitan vol. 2 no. 2, september 2001 berisi tujuh artikel yang membahas masalah heavy reliance on the indirect financing as sources of funds for business firms in japan: as a comparison for indonesian financial crisis, manajemen mutu terpadu, peranan gender dalam usaha tani di kawasan indonesia bagian timur, model pengukuran produktivitas berdasarkan pendekatan rasio output per input, manajemen lintas budaya, merger bank bermasalah di indonesia, dan mengenal bank “syariah” lembaga keuangan untuk umum. journal the winners ini merupakan hasil kerja penulis, tim redaksi, dan partisipasi segenap civitas akademika yang menekuni bidang ekonomi. mudah-mudahan jurnal ini bermanfaat bagi pembaca. jakarta, september 2001 redaktur utama dr. ir. haryono soeparno, m.sc. journal the winners, vol. 2 no. 2, september 2001 v ucapan terima kasih ucapan terima kasih dan penghargaan diberikan kepada para pakar/ahli yang telah diundang sebagai penelaah artikel pada journal the winners dalam volume 2 tahun 2001. berikut ini daftar nama pakar/ahli yang berpartisipasi. 1. dr. hekinus manao, m.acc., c.g.f.m. (universitas indonesia) 2. dr. sudarwan, m.b.a., q.i.a. (universitas trisakti) 3. dr. ir. roy sembel, m.b.a. (program pascasarjana universitas bina nusantara) 4. edi timbul hardiyanto, s.e., ak., m.sc., m.b.a., b.a.p (institut pendidikan internal auditor indonesia) penerapan linear programming..... (sugiarto christian) 55 penerapan linear programming untuk mengoptimalkan jumlah produksi dalam memperoleh keuntungan maksimal pada cv cipta unggul pratama sugiarto christian ocbc nisp tower jln. prof. dr. satrio kav. 25, jakarta selatan 12940 huangchristian@yahoo.com abstract the purpose of this study is to investigate and understand the barriers and optimize the combination of products in production quantities to gain maximum profit in cv cipta unggul pratama. this study used quantitative approach with survey to collect data. analysis used forecasting and linear programming method. this analysis was used to combine the right amount of products to get maximum benefit of cv cipta unggul pratama. the results achieved in this research is to know the company in the form of barriers to raw material shortages of 875 m2, labor hours by 4,368 hours, demand forecasting as many as 230 pairs of school shoes, 344 pairs of sports shoes, 450 pairs of shoes and formal employment. the company also had to produce 230 pairs of school shoes, 344 pairs of sports shoes, 450 pairs of shoes and formal employment. based on the results obtained, research suggested cv cipta unggul pratama makes plans to increase production and to improve the company needs to expand its production or marketing of products territorial expansion. keywords: implementation of linear programming, maximum profit abstrak tujuan penelitian ini adalah untuk mengetahui dan memahami hambatan-hambatan serta kombinasi produk dalam mengoptimalkan jumlah produksi untuk memperoleh keuntungan maksimal pada cv cipta unggul pratama. penelitian ini menggunakan pendekatan kuantitatif dengan metode survei untuk memperoleh data. metode analisis yang digunakan dalam penelitian ini adalah forecasting dan linear programming. analisis ini digunakan untuk kombinasi jumlah produk yang tepat untuk memperoleh keuntungan maksimal cv cipta unggul pratama. hasil yang dicapai dalam penelitian ini adalah perusahaan mengetahui hambatan berupa keterbatasan bahan baku sebesar 875 m2, jam tenaga kerja sebesar 4.368 jam, peramalan permintaan sebanyak 230 pasang sepatu sekolah, 344 pasang sepatu olahraga, dan 450 pasang sepatu kerja formal. perusahaan juga harus memproduksi 230 pasang sepatu sekolah, 344 pasang sepatu olahraga, dan 450 pasang sepatu kerja formal. berdasarkan hasil yang diperoleh penulis menyarankan cv cipta unggul pratama membuat perencanaan peningkatan produksi dan untuk dapat meningkatkan produksi perusahaan perlu melakukan ekspansi atau perluasan wilayah produk pemasaran. kata kunci: penerapan linear programming, keuntungan maksimal 56 journal the winners, vol. 14 no. 1, maret 2013: 55-60 pendahuluan sepatu merupakan suatu kebutuhan dan gaya hidup bagi masyarakat dalam menjalankan aktivitas sehari-hari, mulai dari sepatu formal untuk ke kantor, sepatu untuk berolahraga, sepatu untuk menghadiri pesta, sepatu sekolah, dan lain-lain. hal inilah yang mendasari footwear distributors and retailers of america untuk menyatakan komitmennya berinvestasi dan melakukan diversifikasi sourcing produksi alas kakinya dari china ke indonesia. hal tersebut dilakukan dengan menyelesaikan berbagai permasalahan yang dapat menghambat kerja sama perdagangan dan investasi antara industri sepatu indonesia dan amerika serikat. ketatnya persaingan industri sepatu indonesia tidak hanya berasal dari luar negeri tetapi juga berasal dari dalam negeri. banyaknya pemain baru dalam pasar mengakibatkan perusahaan harus bekerja lebih untuk dapat bertahan dan mengembangkan usaha. untuk itu, perusahaan harus mendapatkan keuntungan yang nantinya akan digunakan untuk melakukan ekspansi pasar. cv cipta unggul pratama merupakan perusahaan yang bergerak dalam bidang outsole, insole, dan shoes supply. dalam menjalankan aktivitasnya, perusahaan menghadapi kendala fluktuasi permintaan sehingga perusahaan harus menyimpan sisa barang produksi di dalam gudang penyimpanan. hal ini mengakibatkan timbulnya biaya penyimpanan yang berdampak pada berkurangnya keuntungan yang diperoleh perusahaan. metode linear programming merupakan metode yang tepat untuk memecahkan masalah yang dialami oleh perusahaan. metode linear programming membantu perusahaan dengan cara mengombinasikan variasi produk yang ada berdasarkan keterbatasan sumber daya yang dimiliki oleh perusahaan. dengan demikian perusahaan dapat melakukan produksi secara optimal untuk memperoleh keuntungan maksimal. landasan teori riset operasi merupakan aplikasi metode-metode, teknik-teknik dan peralatan ilmiah dalam menghadapi masalah-masalah yang timbul dalam operasi perusahaan dengan tujuan menemukan pemecahan yang optimal (aminuddin. 2005). salah satu metode dalam riset operasi adalah peramalan sebagaimana yang digunakan pada riset ini. peramalan menurut fildes, nikolopoulos, crone, dan syntetos (2008) adalah perkiraan peristiwa-peristiwa pada waktu yang akan datang atas dasar polapola waktu yang lalu, dan penggunaan kebijakan terhadap proyeksi-proyeksi dengan pola-pola pada waktu yang lalu. peramalan dapat dilakukan dengan melibatkan pengambilan data masa lalu dan menempatkannya ke masa yang akan datang dengan suatu bentuk model matematis. dengan peramalan yang baik diharapkan pemborosan akan bisa dikurangi, dapat lebih terkonsentrasi pada sasaran tertentu, perencanaan lebih baik, sehingga dapat menjadi kenyataan. setelah dibuat proyeksi peramalan, maka dilaksanakan penghitungan dengan metode linear programming. menurut stapleton, hanna, dan markussen (2003), definisi linear programming adalah suatu teknik aplikasi matematika dalam menentukan pemecahan masalah yang bertujuan untuk memaksimumkan atau meminimumkan sesuatu yang dibatasi oleh batasan-batasan tertentu. hal ini dikenal juga sebagai teknik optimalisasi. model program linear dapat menentukan nilai dari variabel keputusan yang terdapat di dalam model program linier. menurut sitinjak (2006), metode yang dapat digunakan untuk mencari solusi dari model program linier terbagi menjadi 2, yaitu: metode grafik dan metode simpleks. metode grafik digunakan jika banyaknya varibel keputusan di dalam model program linier sejumlah dua variabel keputusan (= 2 variabel). metode simpleks digunakan jika banyaknya variabel keputusan di dalam model program linier minimal dua variabel keputusan (≥ 2 variabel). penerapan linear programming..... (sugiarto christian) 57 metode pada prinsipnya data yang dibutuhkan dan dianalisis dalam penelitian ini bersumber dari data sekunder. untuk itu dibutuhkan beberapa metode pengumpulan data yang digunakan terdiri dari kepustakaan, observasi, dan interview. teknik pengambilan sampel yang digunakan adalah probability sampling, yaitu teknik pengambilan sampel yang memberikan peluang yang sama bagi setiap unsur anggota populasi untuk dipilih menjadi anggota sampel. permasalahan yang dihadapi adalah bagaimana mengambil keputusan dengan memanfaatkan data yang tersedia untuk menyelesaikan masalah dengan tujuan yang dibatasi oleh keterbatasan tertentu. permasalahan ini dapat diatasi dengan memanfaatkan program linear atau metode linear programming. metode linear programming terdapat 2 jenis, yaitu: metode grafik dan metode simpleks. pada penelitian ini akan digunakan metode simpleks, karena variabel keputusan yang digunakan lebih dari 2 variabel atau 2 produk. metode simpleks yang dirancang untuk menyelesaikan seluruh masalah linear programming, baik yang melibatkan dua variabel maupun lebih dari dua variabel. metode simpleks merupakan teknik yang paling berhasil dikembangkan untuk memecahkan persoalan program linier yang mempunyai jumlah variabel keputusan dan pembatas yang besar. (sunarsih & ramdani, 2003). langkah-langkah awal yang harus ditentukan dalam penyelesaian masalah dengan metode program linear adalah dengan menentukan 3 faktor utama, yaitu: (1) variabel keputusan; produk apa saja yang akan diproduksi dan berapa jumlah unit yang akan diproduksi dalam suatu periode tertentu; (2) fungsi tujuan; zmax = c1x1 + c2x2 + c3x3 + c4x4+ c5x5 + c6x6; (3) fungsi kendala; batasan-batasan dalam mencapai tujuan: a11x1 + a12x2 + a13x3 + a14x4 + a15x5 + a16x6 ≤ b1 a21x1 + a22x2 + a23x3 + a24x4 + a25x5 + a26x6 ≤ b2 a31x1 + a32x2 + a33x3 + a34x4 + a35x5 + a36x6 ≤ b3 keterangan cj = nilai profit per unit untuk setiap xj xj = varable keputusan ke-j aji = kebutuhan sumber daya i untuk setiap xj bi = jumlah sumber daya yang tersedia j = banyaknya variable keputusan mulai dari 1,2,3…j. i = banyaknya jenis sumber daya yang digunakan mulai dari 1,2,3…i. setelah itu menggunakan metode tabel simpleks untuk menyelesaikan penghitungan tersebut sampai memperoleh solusi untuk keuntungan maksimal. asumsi dasar linear programming adalah sebagai berikut. kepastian (certainty)  koefisien dalam fungsi tujuan (cj) dan fungsi kendala (aji) dapat diketahui dengan pasti dan tidak berubah. proporsionalitas (proportionality) dalam fungsi tujuan dan fungsi kendala  semua koefisien dalam formulasi, cj dan aji, merupakan koefisien yang bersifat variabel terhadap besarnya variabel keputusan. additivitas (additivity)  total aktivitas sama dengan jumlah (additivitas) setiap aktivitas individual. divisibilitas (divisibility) solusi permasalahan linear programming (dalam hal ini nilai xj) tidak harus dalam bilangan bulat. nonnegatif (nonnegativity) variabel keputusan tidak boleh bernilai negatif. 58 journal the winners, vol. 14 no. 1, maret 2013: 55-60 hasil dan pembahasan pemecahan masalah dalam penelitian ini menggunakan metode linear programming, yang terdiri dari variabel keputusan, fungsi tujuan, dan fungsi kendala. variabel keputusan adalah ketiga jenis produk utama yang diproduksi perusahaan. fungsi tujuan adalah fungsi untuk memperoleh keuntungan maksimal yang terdiri dari laba masing-masing jenis produk. untuk fungsi kendala terdiri dari tiga jenis utama, yaitu: bahan baku, jam tenaga kerja, dan peramalan permintaan ketiga jenis produk. berikut merupakan penjabaran serta persamaan dari masing-masing variabel dan fungsi dari linear programming. variabel keputusan: x1 = sepatu sekolah x2 = sepatu olahraga x3 = sepatu kerja formal fungsi tujuan memaksimalkan laba: laba = 82,625 x1 + 91,590 x2 + 56,824x3 fungsi kendala yang menghambat produksi: bahan baku: 0,49 x1 + 0,27 x2 + 0.65 x3 ≤ 875 tenaga kerja: 0,78 x1 + 0,63 x2 + 0,45 x3 ≤ 4.368 peramalan permintaaan sepatu sekolah: x1 ≤ 230 peramalan permintaan sepatu olahraga: x2 ≤ 344 peramalan permintaan sepatu kerja formal: x3 ≤ 450 program yang digunakan untuk mengetahui kombinasi produk dalam mendapatkan keuntungan maksimal adalah quantitative management (qm) for windows version 2.2. berikut merupakan proses analisis menggunakan qm for windows: gambar 1 input data – linear programming penerapan linear programming..... (sugiarto christian) 59 gambar 2 linear programming result – linear programming hasil yang diperoleh dari pembahasan diasas adalah perusahaan harus memproduksi sepatu sekolah sebanyak 230 pasang sepatu untuk mendapatkan keuntungan dari sepatu sekolah sebesar rp. 19,003,750, memproduksi sepatu olahraga sebanyak 344 pasang sepatu untuk mendapatkan keuntungan dari sepatu olahraga sebesar rp. 31,506,960, sepatu kerja formal sebanyak 450 pasang sepatu untuk mendapatkan keuntungan dari sepatu kerja formal sebesar rp. 25.570,800. total laba maksimal yang diperoleh jika memproduksi 230 pasang sepatu sekolah, 344 pasang sepatu olahraga, 450 pasang sepatu kerja formal adalah sebesar rp.76,081,510. simpulan berdasarkan pembahasan, beberapa simpulan dalam penelitian antara lain sebagai berikut. persamaan linear dari fungsi tujuan dan persamaan linear dari kelima fungsi kendala, serta penjabaran dari tiga kendala utama adalah sebagai berikut. pertama, fungsi tujuan, laba = 82,625 x1 + 91,590 x2 + 56,824x3. kedua, fungsi kendala, bahan baku: 0,49 x1 + 0,27 x2 + 0.65 x3 ≤ 875; tenaga kerja: 0,78 x1 + 0,63 x2 + 0,45 x3 ≤ 4.368; peramalan permintaaan sepatu sekolah: x1 ≤ 230; peramalan permintaan sepatu olahraga: x2 ≤ 344; peramalan permintaan sepatu kerja formal: x3 ≤ 450. ketiga, penjabaran dari fungsi kendala adalah (i) penggunaan kulit sintesis tidak maksimal karena bahan kulit sintetis yang terpakai adalah sebanyak 498.08 m2, sedangkan bahan baku yang tersedia sebanyak 875 m2; kulit sintetis yang belum digunakan sebesar 376.92 m2; (ii) penggunaan jam tenaga kerja tidak maksimal karena tenaga kerja yang diperlukan adalah sebanyak 598,62 jam kerja sedangkan jam kerja yang tersedia yang tersedia sebanyak 4368 jam kerja; jam kerja yang tidak digunakan adalah sebanyak 3769,38 jam; (iii) jumlah masing–masing produk yang harus diproduksi sesuai dengan jumlah peramalan produksi untuk periode selanjutnya (target produksi). produk sejumlah simpulan poin nomor 2 dapat diproduksi sesuai dengan ketersediaan bahan baku dan jam tenaga kerja yang dimiliki perusahaan. perusahaan harus memproduksi sepatu sekolah sebanyak 230 pasang untuk mendapatkan keuntungan dari sepatu sekolah sebesar rp. 19,003,750, memproduksi sepatu olahraga sebanyak 344 pasang untuk mendapatkan keuntungan dari sepatu olahraga sebesar rp. 31,506,960, sepatu kerja formal sebanyak 450 pasang untuk mendapatkan keuntungan dari sepatu kerja formal sebesar rp. 25.570,800. total laba maksimal yang diperoleh jika memproduksi 230 pasang sepatu sekolah, 344 pasang sepatu olahraga, 450 pasang sepatu kerja formal adalah sebesar rp.76,081,510. 60 journal the winners, vol. 14 no. 1, maret 2013: 55-60 saran berdasarkan penelitian dan analisis yang dilakukan, maka saran yang diberikan kepada cv cipta unggul pratama adalah sebagai berikut. pertama, perusahaan perlu lebih meningkatkan efisiensi dalam perencanaan penyediaan bahan baku dan tenaga kerja sehingga sumber daya yang ada dapat dimanfaatkan secara optimal untuk mendapatkan keuntungan yang maksimal. kedua, jika untuk selanjutnya perusahaan akan meningkatkan jumlah produksi, perusahaan disarankan untuk menggunakan metode linear programming untuk meminimalkan biaya. daftar pustaka aminuddin. (2005). prinsip-prinsip riset operasi. jakarta: erlangga. fildes, r., nikolopoulos, k, crone, s. f., & syntetos, a. a. (2008). forecasting and operational research: a review. the journal of the operational research society, 59(9), 1150–1172. prasetya, h. & lukiastuti, f. (2009). manajemen operasi. yogyakarta: caps. stapleton, d.m., hanna, j. b., & markussen, d. (2003). marketing strategy optimization: using linear programming to establish an optimal marketing mixture. american business review, 21(2), 54–62. sitinjak, t. j. r. (2006). riset operasi: untuk pengambilan keputusan manajerial dengan aplikasi excel. yogyakarta: graha ilmu. sunarsih & ramdani, a. k. (2003). metode simpleks primal menggunakan working basis. jurnal matematika dan komputer, 6(3), 167–178. microsoft word 03_bahtiar saleh abbas_penentuan jumlah.doc journal the winners, vol. 4 no. 1, maret 2003: 18-25 18 penentuan jumlah teller yang optimal dengan metode antrian di pt bank haga bahtiar s. abbas1; raymond2 abstract this article presents the optimization of the number of tellers at the service counter at pt bank haga. its done by comparing the some alternatives related to the number of tellers employed. conclusion indicates that optimal condition is that 5 tellers at abdul muis branch and 4 tellers at daan mogot branch. keywords: teller, queue, bank abstrak artikel menyajikan laporan mengenai upaya optimalisasi jumlah teller untuk layanan di bank haga. kajian dilakukan dengan membandingkan beberapa alternatif yang terkait dengan jumlah teller yang dipekerjakan. hasil kajian menunjukkan bahwa jumlah teller yang optimal untuk kondisi pt bank haga abdul muis adalah 5 orang dan untuk pt bank haga cabang daan mogot 4 orang. kata kunci: teller, antri, bank 1 staf pengajar fakultas ekonomi, ubinus, jakarta 2 sarjana teknik, jurusan teknik industri, fakultas teknik, ubinus, jakarta penentuan jumlah teller yang optimal… (bahtiar s. abbas; raymond) 19 pendahuluan dengan semakin maju dan banyaknya usaha perbankan yang berkembang di indonesia, diperlukan suatu kemampuan menunjukkan performansi yang baik guna memenangkan persaingan. salah satu performansi yang perlu diperhatikan adalah tingkat pelayanan kepada konsumen. untuk mencapai performansi yang baik, banyak bank memberikan kemudahan kepada konsumennya, misalnya dalam bentuk kecepatan mendapatkan pelayanan. namun demikian, masih sering dijumpai begitu panjangnya antrian di bank karena banyaknya nasabah yang belum dapat dilayani. hal itu tentunya menimbulkan kerugian baik bagi pemilik bank maupun konsumen. lamanya pelayanan karena panjangnya antrian menyebabkan konsumen menjadi malas untuk melakukan transaksi di bank tersebut. akibatnya, bank kehilangan konsumen. oleh karena itu, dibutuhkan suatu pelayanan yang cepat antara lain menentukan jumlah operator yang tepat agar tercapai tingkat pelayanan yang optimal. sebagai salah satu bank, pt bank haga juga mengalami kendala yang sama dalam memaksimalkan pelayanan mereka. tujuan penelitian ini adalah (1) untuk mengetahui kondisi tingkat pelayanan di pt bank haga abdul muis dan pt bank haga cabang daan mogot sehingga dapat diketahui efisiensi kerja yang lebih baik antara pt bank haga abdul muis atau pt bank haga cabang daan mogot; (2) untuk mengetahui total biaya sistem di pt bank haga abdul muis maupun di pt bank haga cabang daan mogot; (3) untuk mengetahui jumlah teller yang optimal untuk meminimasi total biaya sistem dan memaksimalkan tingkat pelayanan; (4) untuk mengetahui model antrian yang diterapkan di bank haga. metode penelitian i. pemilihan model antrian untuk menentukan suatu model yang tepat dalam memecahkan masalah yang terjadi, penulis melakukan pengamatan secara langsung di pt bank haga abdul muis dan pt bank haga cabang daan mogot. pengamatan yang dilakukan sebagai berikut. 1. bagaimana pola kedatangan nasabah dan pola pelayanan pada sistem antrian di pt bank haga abdul muis dan pt bank haga cabang daan mogot. 2. bagaimana pola disiplin pelayanan yang berlaku di pt bank haga abdul muis dan pt bank haga cabang daan mogot, misalnya apakah nasabah yang datang terlebih dahulu akan dilayani terlebih dahulu juga (first come first served). 3. bagaimana jumlah saluran pelayanan yang dipakai, dalam hal ini adalah jumlah teller, apakah tunggal atau banyak. ii. pengumpulan data dalam proses pengumpulan data didapatkan sejumlah data berupa data waktu pelayanan dan data waktu antarkedatangan konsumen. pengambilan data dilakukan selama ± 3,5 jam, dimulai dari pukul 09.30 s.d. 13.00 wib. selain data primer, penulis juga mengumpulkan sejumlah data sekunder yang didapatkan dari wawancara dengan para operator yang bekerja di pt bank haga. alat yang digunakan oleh penulis dalam melakukan pengumpulan data antara lain (1) stopwatch digunakan untuk mengukur waktu pelayanan teller terhadap nasabah dan untuk mengukur waktu antarkedatangan nasabah dan (2) pena dan kertas digunakan untuk mencatat hasil pengukuran data. journal the winners, vol. 4 no. 1, maret 2003: 18-25 20 iii. uji kebaikan suai (test goodness of fit) setelah data dikumpulkan maka langkah selanjutnya adalah melakukan pengolahan data. pengolahan data yang dilakukan adalah melakukan uji kesesuaian bentuk distribusi poisson dan uji distribusi eksponensial. pengujian bentuk distribusi yang dilakukan adalah menguji apakah pola kedatangan konsumen mengikuti distribusi poisson dan apakah waktu pelayanan mengikuti distribusi eksponensial. caranya adalah menggunakan uji kebaikan suai. rumus distribusi poisson sebagai berikut. -λx x! e.λ p(x) = e = bilangan natural dan e = 2,7828 λ = rata-rata tingkat kedatangan x = banyaknya kedatangan rumus distribusi eksponensial sebagai berikut. μt-μe(x)f = t = waktu pelayanan f(t) = probabilitas yang berhubungan dengan t μ = rata-rata tingkat pelayanan sehingga 1/μ = rata-rata waktu pelayanan rumus uji kebaikan suai sebagai berikut. ∑ = = c 1 2 2 ei ei) (fi x i fi = frekuensi observasi ei = frekuensi teoritis iv. evaluasi operating characteristics setelah mengetahui bentuk distribusi sistem, langkah selanjutnya adalah mencari operating characteristic-nya. dari langkah tersebut, dapat ditentukan sebagai berikut. 1. total biaya untuk sistem pelayanan yang berlaku sekarang di pt bank haga abdul muis dan pt bank haga cabang daan mogot. 2. perbandingan sistem pelayanan yang berlaku di pt bank haga abdul muis dengan sistem pelayanan yang berlaku di pt bank haga cabang daan mogot. 3. total biaya untuk sistem pelayanan optimal di pt bank haga abdul muis dan pt bank haga cabang daan mogot. 4. jumlah sistem pelayanan optimal untuk pt bank haga abdul muis dan pt bank haga cabang daan mogot. penentuan jumlah teller yang optimal… (bahtiar s. abbas; raymond) 21 rumus operating characteristics untuk multiple server sebagai berikut. ∑ − = + = 1s 0n sno λ/sμ-1 1 s! λ/μ)( n! λ/μ)( 1 p λ l w qq = w = wq + 1/ μ 2 n 0 q λ/cμ)-(1c! λ/cμ .λ/μ)(p l = l = lq + λ/μ po = probabilita tidak ada pengantri dalam sistem l = jumlah konsumen dalam sistem antrian yang diharapkan lq = panjang antrian yang diharapkan w = waktu menunggu dalam sistem yang diharapkan termasuk waktu pelayanan wq = waktu menunggu dalam antrian yang diharapkan total cost (tc) = (c x bp) + (l x bm) c = jumlah operator bp = biaya pelayanan bm = biaya menunggu v. evaluasi dan analisis berdasarkan hasil pengolahan data maka langkah selanjutnya melakukan evaluasi dan analisis terhadap sistem pelayanan yang berlaku sekarang dengan sistem pelayanan optimal di pt bank haga abdul muis dan pt bank haga cabang daan mogot. tujuannya untuk mengetahui kelemahan yang ada pada sistem pelayanan di pt bank haga abdul muis dan pt bank haga cabang daan mogot berdasarkan total biaya sistem. setelah mengetahui kelemahan yang ada, penulis berharap dengan sistem pelayanan optimal dapat lebih meningkatkan sistem pelayanan yang berlaku sekarang sehingga dapat memberikan keuntungan untuk pt bank haga abdul muis dan pt bank haga cabang daan mogot dan juga meningkatkan kepuasan para nasabah dalam pelayanan khususnya di bagian teller. pada akhirnya dapat ditarik suatu kesimpulan dari pengamatan yang telah dilakukan di pt bank haga abdul muis dan pt bank haga cabang daan mogot yang mungkin berguna bagi pihak pt bank haga serta saran dari penulis yang diharapkan dapat membantu segala kekurangan dari kinerja pt bank haga. journal the winners, vol. 4 no. 1, maret 2003: 18-25 22 pembahasan hasil berdasarkan hasil pengolahan data maka dapat ditentukan tingkat pelayanan dan tingkat kedatangan dari setiap kondisi yang dihitung. hasil pengolahan data tersebut sebagai berikut. 1. untuk pt bank haga abdul muis sebagai berikut. λ = 0,59 orang/menit μ = 0,348 orang/menit 2. untuk pt bank haga cabang daan mogot sebagai berikut. λ = 0,554 orang/menit μ = 0,358 orang/menit berdasarkan hasil pengolahan data tersebut maka dapat ditentukan jumlah teller yang optimal dengan tujuan minimumkan total biaya sistem. sebelum melakukan pengolahan data, harus ditentukan model antrian yang digunakan. berdasarkan pengamatan terhadap sistem pelayanan yang berlaku di bank haga abdul muis dan bank haga cabang daan mogot, dapat disimpulkan bahwa model antrian yang digunakan adalah (m / m / c) : (fcfs / ∞ / ∞). hal itu berdasarkan hal berikut. 1. setiap nasabah yang datang terlebih dahulu ke fasilitas pelayanan akan langsung dilayani sehingga dapat disebut fcfs (first come first served). 2. sumber input (nasabah) tidak terbatas. 3. jumlah teller yang melayani lebih dari 1 orang. 4. waktu antarkedatangan berdistribusi eksponensial yang berarti tingkat kedatangan berdistribusi poisson sedangkan tingkat pelayanan berdistribusi eksponensial. untuk minimasi biaya total sistem, digunakan rumus berikut. tc (c) = (c.bp) + (l.bm) bp = rp. 120,00 / menit bm = rp. 208,00 / menit , bila w > 3 menit bm = rp. 0,00 / menit , bila w ≤ 3 menit berdasarkan hasil tersebut maka secara keseluruhan hasil perhitungan sebagai berikut. 1. jumlah teller optimal pt bank haga abdul muis = 5 orang. 2. jumlah teller optimal pt bank haga cabang daan mogot = 4 orang. pt bank haga abdul muis saat ini menggunakan 8 orang teller dan pt bank haga cabang daan mogot saat ini menggunakan 3 orang teller. berdasarkan hasil perhitungan dapat dilihat adanya penghematan biaya sebagai berikut. 1. untuk pt bank haga abdul muis jika jumlah teller = 8 orang, maka tc = rp. 958,33/menit jika jumlah teller = 5 orang, maka tc = rp. 598,96/menit terjadi penghematan biaya sebesar berikut ini. rp. 958,33/menit rp. 598,96/menit = rp. 359,37 /menit ~ rp. 359,00/menit penentuan jumlah teller yang optimal… (bahtiar s. abbas; raymond) 23 2. untuk pt bank haga cabang daan mogot jika jumlah teller = 3 orang maka tc = rp. 737,60/menit jika jumlah teller = 4 orang maka tc = rp. 479,17/menit terjadi penghematan biaya sebesar berikut ini. rp. 737,60 / menit rp. 479,17 / menit = rp 258,43 / menit ~ rp. 358,00/ menit pembahasan untuk saat ini, pt bank haga abdul muis menggunakan teller sebanyak 8 orang dan pt bank haga cabang daan mogot menggunakan teller sebanyak 3 orang. berdasarkan hasil perhitungan, ternyata total biaya sistem di pt bank haga abdul muis lebih besar dibandingkan dengan pt bank haga cabang daan mogot. hal itu karena jumlah operator yang tidak optimal sehingga terjadi penambahan biaya. untuk jumlah teller di pt bank haga abdul muis dan pt bank haga cabang daan mogot, keduanya saat ini kurang efisien karena hal berikut. 1. berdasarkan pengamatan, tingkat kedatangan di pt bank haga abdul muis cukup tinggi, namun jumlah teller yang bekerja di pt bank haga abdul muis melebihi jumlah yang optimal. tingkat kedatangan di pt bank haga cabang daan mogot juga cukup tinggi, mendekati tingkat kedatangan di pt bank haga abdul muis (λ = 0,59 orang/menit untuk pt bank haga abdul muis dan λ = 0,554 orang/menit untuk pt bank haga cabang daan mogot) sehingga jumlah teller di pt bank haga cabang daan mogot ternyata kurang dari jumlah yang optimal. (jumlah teller pt bank haga cabang daan mogot = 3 orang, jumlah teller pt bank haga cabang abdul muis = 8 orang). 2. tingkat pelayanan di kedua tempat yang masih rendah menyebabkan antrian yang panjang yang menyebabkan semakin tingginya biaya sistem. untuk kondisi pt bank haga cabang abdul muis yang menggunakan teller sebanyak 8 orang, kemungkinan tidak ada pengantri dalam sistem cukup tinggi. akan tetapi, biaya sistem yang dibebankan juga semakin tinggi. berdasarkan hasil perhitungan, jumlah teller yang optimal untuk pt bank haga abdul muis adalah sebanyak 5 orang dan total biaya sistem menggunakan 5 orang teller adalah yang paling minimum. untuk kondisi pt bank haga cabang daan mogot yang menggunakan teller sebanyak 3 orang, kemungkinan tidak ada pengantri dalam sistem cukup kecil sehingga menyebabkan antrian dalam sistem menjadi panjang. antrian yang semakin panjang akan menyebabkan meningkatnya beban biaya menunggu. selain itu, nasabah tidak akan melakukan transaksi lagi karena tingkat pelayanan yang buruk. berdasarkan hasil perhitungan, jumlah teller yang optimal untuk pt bank haga cabang daan mogot adalah sebanyak 4 orang dan total biaya sistem menggunakan 4 orang teller adalah yang paling minimum. journal the winners, vol. 4 no. 1, maret 2003: 18-25 24 penutup simpulan 1. tingkat pelayanan pt bank haga abdul muis lebih rendah (μ=0,348 orang/menit untuk λ=0,59 orang/menit) dibandingkan dengan tingkat pelayanan pt bank haga cabang daan mogot. (μ=0,358 orang/menit untuk λ=0,554 orang/menit). 2. total biaya sistem pt bank haga abdul muis lebih tinggi dibandingkan dengan total biaya sistem pt bank haga cabang abdul muis. 3. jumlah teller yang optimal untuk kondisi pt bank haga abdul muis = 5 orang dan untuk pt bank haga cabang daan mogot = 4 orang. penambahan maupun pengurangan jumlah teller di pt bank haga saat ini menimbulkan penghematan yang cukup besar, yaitu untuk pt bank haga abdul muis = rp. 359,00/menit dan untuk pt bank haga cabang daan mogot = rp. 358,00/menit 4. model antrian yang digunakan oleh pt bank haga abdul muis dan pt bank haga cabang daan mogot adalah (m / m / c) : (fcfs / ∞ / ∞). saran 1. diharapkan pihak pt bank haga menggunakan tenaga kerja yang lebih terampil dengan tujuan lebih meningkatkan pelayanan. hal itu dapat terwujud bila adanya kerja yang baik dari bagian human resources development dalam merekrut tenaga kerja baru. 2. tersedianya operator yang bertugas untuk mengamati kinerja sistem pelayanan pt bank haga secara periodik sehingga dapat diketahui apakah sistem pelayanan yang telah berjalan sudah efisien atau belum. 3. perekrutan jumlah tenaga kerja yang tepat dengan tujuan meningkatkan efisiensi kerja. 4. dilakukan perawatan terhadap beberapa peralatan secara berkala, dengan tujuan agar pekerjaan dapat dilakukan tanpa kesulitan karena adanya kerusakan peralatan. penentuan jumlah teller yang optimal… (bahtiar s. abbas; raymond) 25 daftar pustaka dimyati, tjutju tarliah dan ahmad dimyati. 2002. operation research model pengambilan keputusan. bandung: sinar baru algesindo. mulyono, sri. 2002. riset operasi untuk pengambilan keputusan. jakarta: universitas indonesia. supranto, johannes. 1998. riset operasi untuk pengambilan keputusan. jakarta: universitas indonesia. walpole, ronald e. 1990. pengantar statistika. edisi ke-3. jakarta: pt gramedia pustaka utama. microsoft word 05_idris gautama_e-bisnis.doc alasan dan langkah pembangunan bisnis berbasis web (idris gautama) 39 alasan dan langkah pembangunan bisnis berbasis web idris gautama1 abstract this paper starts with the explanation of e-commerce, e-business, types of business, and taxonomy of business models. this paper also explains why starting web-based business from scratch is easier than to transform brick and mortal business to web-based/internet business. then step-by-step creating web-based business will be explained. keywords: business, web abstrak artikel ini dimulai dengan penjelasan mengenai e-commerce, e-business, tipe bisnis, dan taksonomi model bisnis. dalam artikel ini juga dijelaskan mengapa memulai bisnis berbasis web dari scratch lebih mudah daripada dari transform brick and mortal business ke webbased/internet business. kata kunci: bisnis, web 1 staf pengajar fakultas ilmu komputer, ubinus, jakarta journal the winners, vol. 4 no. 1, maret 2003: 39-45 40 pendahuluan banyak pengertian tentang e-commerce dan e-business yang diberikan oleh pengarang buku. dalam artikel ini yang dimaksud dengan e-commerce adalah semua perusahaan yang menggunakan internet dalam bisnisnya sedangkan e-business adalah individu perusahaan yang menggunakan internet dalam bisnisnya (reding, 2001:4). bisnis baik yang tradisional maupun yang menggunakan internet dapat dikategorikan dalam dua jenis sebagai berikut. 1. bisnis produk 2. bisnis jasa bisnis produk adalah bisnis yang menjual produk dalam transaksinya sedangkan bisnis jasa adalah bisnis yang menjual pengetahuan dan keahlian. sebagai contoh, perusahaan dagang adalah adalah jenis binis produk sedangkan konsultan adalah jenis bisnis jasa. taksonomi dapat diartikan sebagai pengkategorian sedangkan model dalam ilmu pengetahuan adalah hipotesis tentang hubungan sebab-akibat dan dalam arsitektur adalah representasi gaya struktur yang direncanakan, demikian juga model bisnis menjalankan tujuan yang sama (eisenmann, 2002:xii). pembahasan landasan teori i. taksonomi model bisnis berdasarkan pendapatannya, model bisnis dapat diikhtisarkan dalam 7 model (afuah, 2003:104-117) sebagai berikut. 1. commision ide dasarnya adalah penambahan biaya pada transaksi berdasarkan besarnya tranksaksi yang dilakukan. disini komisi yang diterima oleh perusahaan sebagai perantara menjadi pendapatan utama. contoh perusahaan jenis ini adalah e-bay. 2. advertising ide dasarnya adalah end user disubsidi oleh iklan. di sini perusahaan pemilik web-site menyediakan end-user fasilitas tersubsidi atau gratis atas isi, jasa, atau bahkan produk untuk menarik end-user. contoh perusahaan jenis ini adalah yahoo. yahoo mewakili perusahaan yang menyediakan jasa untuk orang sebanyak-banyaknya agar mereka menjadi pemirsa dari iklan yang layaknya ditayangkan di media massa sedangkan dapat saja perusahaan memfokuskan pada pelanggan yang ditargetkan sebelumnya. 3. mark up ide dasarnya adalah adanya penambahan nilai pada penjualan. di sini penambahan nilai (mark-up) dilakukan karena perusahaan memiliki sejumlah keunggulan sehingga pelanggan yang tertarik untuk membeli dari perusahaan. contoh bisnis jenis adalah melakukan lelang atau karena keunggulan efisiensi distribusi dapat menambah nilai penjualan seperti amazon. alasan dan langkah pembangunan bisnis berbasis web (idris gautama) 41 4. production ide dasarnya adalah adanya penambahan nilai pada produksi. biasa juga dikenal sebagai model pabrikan (manufacturing model), bisnis ini digunakan oleh kalangan perusahaan yang memproduksi barang dan langsung dikenalkan kepada pelanggan melalui internet/web. contoh perusahaan yang menggunakan model ini adalah compaq yang langsung menjual chip memory kepada pelanggan melalui internet/web. 5. referral ide dasarnya adalah biaya kerena memperkenalkan (referring) pelanggan pada suatu bisnis. pada bisnis jenis ini perusahaan membayar kepada pelanggan sejumlah nilai yang telah disepakati sebelumnya (dapat berdasar nilai yang rata atau proporsional) karena pelanggan telah memperkenalkan bisnis perusahaan pada pelanggan lainnya. bisnis jenis ini mendapat rating 5/5 (terbaik) oleh bradey j. sugars (sugars(2), 2000:66-67). contoh perusahaan yang menggunakan model ini dalam bisnisnya adalah goldquest. 6. subscription ide dasarnya adalah biaya utuk penggunaan tak terbatas. perusahaan mengenakan suatau biaya tetap / rata pada suatu periode kepada pelanggan untuk suatu jasa yang diberikan. biaya ini tetap dikenakan baik jasa perusahaan dipakai maupun tidak oleh pelanggan. contoh perusahaan yang menggunakan model ini pada bisnisnya adalah at&t worldnet. 7. fee-for-service ide dasarnya adalah pelayanan yang diukur. di sini jasa yang dipergunakan oleh pelanggan diukur dan dijadikan sebagai dasar pembebanan kepada pelanggan yang bersangkutan. contoh perusahaan pada model bisnis ini adalah corio yang membebankan/menyewakan aplikasi perangkat lunak pada berbagai perusahaan. taksonomi yang dijelaskan di atas dijelaskan secara bervariasi pada berbagai literatur, sebagai contoh dikategorikan menjadi 8 oleh eisenmann (eisenmann, 2002:xii) namun inti pembahasan literatur yang ada adalah seperti yang dijelaskan di atas. ii. perusahaan brick and mortal versus perusahaan berbasis web perusahaan brick and mortal adalah perusahaan tradisional dan pelanggan melakukan kegiatan didalam gedung atau toko (reding, 2001:4) sedangkan perusahaan berbasis web dapat saja tidak memiliki toko atau gedung real. banyak perusahaan brick and mortal seperti toy-r-us, merril lynch, dan barnes and noble yang lambat dalam bergerak ke arah online dengan berbagai alasan termasuk di dalamnya sebagai berikut (eisenmann, 2002:ix). 1. perhatian pada kemungkinan kanibalisasi atas unit online terhadap perusahaan tradisionalnya. 2. perhatian pada dampak harga saham karena membiayai pengeluaran (losses) internet. 3. lamban dan bahkan sering disfungsionalnya proses pengambilan keputusan pada perusahaan yang telah mapan khususnya kegagalan analisis discounted-cash-flow tradisional dalam menunjang strategi yang menghasilkan profit pada perusahaan. karena pertimbangan di atas, banyak perusahaan yang memisahkan unit internetnya dari unit intinya. unit internetnya bahkan adalah unit yang baru sama sekali dari sisi personilnya dan mereka diberi mandat untuk mengkanibal unit intinya (eisenmann, 2002:ix). bahkan, banyak ahli berpendapat adalah lebih mudah memulai perusahaan e-business dari awal dibanding dengan journal the winners, vol. 4 no. 1, maret 2003: 39-45 42 menyesuaikan perusahaan brick and mortal karena belum adanya kebiasaan yang harus diubah dan belum adanya pelanggan yang harus dipindahkan ke tempat baru (reding, 2001:6). dengan memperhatikan pendapat di atas, sangat bijaksana apabila dalam pertimbangan pembuatan perusahaan dan bisnis baru memasukan e-business dalam pertimbangan utamanya, terutama bila bisnis yang dilakukan dapat memenuhi model bisnis yang telah dibahas di atas. iii. langkah pembangunan e-business 1. mengerti hal penting dalam bisnis berbasis web-based/internet. a. bagaimana tujuan dan kebutuhan bisnis didefinisikan. b. alasan diadakannya web. c. mengerti istilah penting dalam web/internet, misalnya web-page, homepage, hyperlink, browser, portal, dan lainnya. d. bagaimana menemukan informasi di web. hal itu akan membantu sehingga nantinya web yang dibangun sudah memperhatikan aspek ini. e. perangkat lunak yang dibutuhkan untuk pengelolaan surat elektronik. f. bagaimana mengakhiri suatu sesi web. 2. membuat rencana bisnis. a. alasan dibutuhkannya rencana bisnis. hal itu terutama mempertimbangkan pihak terkait (stake holder) perusahaan, misalnya bank, penanam modal, mitra bisnis, perekrutan karyawan, dan karyawan yang telah ada. b. membuat ringkasan eksekutif. hal itu biasanya terdiri dari satu sampai 3 halaman yang merupakan ringkasan dari konsep bisnis, aspek finansial, kebutuhan finansial, situasi bisnis terakhir dan awal. c. membuat rencana bisnis lengkap, (reding, 2001:29) yang terdiri dari sebagai berikut. i. pendahuluan. berisi halaman sampul, daftar isi, dan ringkasan eksekutif. ii. deskrisi bisnis. menyediakan pandangan singkat tentang industri saat ini dan mendatang, menampilkan misi, mendefinisikan produk dan jasa, mendeskripsikan posisi perusahaan dalam pasar, dan membuat daftar strategi harga. iii. pasar. menjelaskan target pelanggan, mendefinisikan ukuran pasar menyeluruh dan pasar sasaran, membuat daftar pesaing dengan penjelasannya, dan memprakirakan penjualan. iv. pengembangan dan produksi. menjelaskan status produk/jasa, proses produksi, menyediakan informasi anggaran perancangan dan pengembangan, menjelaskan secara ringkas kebutuhan tenaga kerja, dan mencantumkan biaya operasi, kebutuhan barang modal, dan harga pokok. v. penjualan dan pemasaran. menjelaskan cara mendapatkan pelanggan potensial dan menjadikannya pelanggan, definisikan saluran distribusi dan jelaskan secara singkat iklan dan kampenye promosi yang akan dilakukan. vi. manajemen. menjelaskan secara singkat pemilik dan pengelola perusahaan, menggambarkan struktur organisasi dan dewan direksi, serta menentukan jasa pendukung. alasan dan langkah pembangunan bisnis berbasis web (idris gautama) 43 vii. informasi keuangan. menilai risiko finansial, menyediakan dan menganalisis laporan arus kas, neraca, laporan laba rugi, dan mengestimasi kebutuhan pendanaan. 3. membuat rencana pemasaran. a. alasan dibutuhkannya rencana pemasaran. rencana bisnis mengikhtisarkan perusahaan keseluruhan, rencana pemasaran menjelaskan bagaimana mencapai tujuan perusahaan. b. membuat ringkasan eksekutif. ini berisi sinopsis strategi pemasaran. c. membuat rencana pemasaran, (reding, 2001:48) yang biasanya terdiri dari hal berikut. i. pendahuluan. berisi halaman sampul, daftar isi, ringkasan eksekutif. ii. analisis situasional. menjelaskan permintaan dan kecenderungan dalam lingkungan, menentukan posisi dalam industri, menjelaskan dampak kelompok atau organisasi, menjelaskan persaingan, mendefinisikan lingkungan dalam organisasi. iii. pelanggan sasaran. menentukan demografi pelanggan, memerinci kebiasaan pembelian pelanggan, dan mengetahui keinginan pelanggan. iv. taktik pemasaran. membuat daftar bagaimana mendapatkan pelanggan sasaran, menjelaskan metode pemasaran, memerinci bauran pemasaran, dan menjelaskan bagaimana menjalankan perencanaan. v. anggaran pemasaran. menentukan jumlah uang yang dubutuhkan, dan menjelaskan bagaimana mencapai tujuan keuangan ini. vi. ringkasan. mendiskusikan alasan-alasan bahwa rencana yang dibuat dapat dicapai. 4. membangun web untuk bisnis. a. menentukan perangkat lunak yang akan digunakan. dalam menentukan penggunaan perangkat lunak, hendaknya dipilih yang banyak tersedia di pasar sehingga memudahkan pemeliharaannya. selain itu, juga dipilih yang userfriendly. perangkat lunak yang banyak digunakan dan relatif sederhana adalah microsoft frontpage, adobe sitemill, claris homepage, lotus fastsite. penguasaan html juga sangat dianjurkan b. mempelajari penggunaan perangkat lunak. penguasaan perangkat lunak yang dipilih sekarang banyak tertolong dengan fitur bantuan (help) yang disediakan perangkat lunak. bahkan sekarang banyak perangkat lunak tutorial untuk mempelajari perangkat lunak tertentu. c. mempelajari desain grafis. dengan menguasai desain grafis akan membuat ketertarikan orang pada web yang dirancang menjadi lebih baik. dalam hubungan dengan perancangan web maka penggunaan form, frame, hyperlink, penambahan search engine bila perlu, serta aspek terkait lainnya perlu diperhatikan. d. merancang sketsa website. dengan sketsa maka seolah telah ada cetak biru dari web yang akan dibangun, memudahkan navigasi, dan manajemen proyek pembangunan web. journal the winners, vol. 4 no. 1, maret 2003: 39-45 44 e. membangun halaman web. berdasar cetak biru yang ada web dibangun dari awal dimulai dengan rancangan sederhana dan dipercanggih bila diperlukan. f. memperhatikan aspek kontrol dan auditabilitas. dalam sistem yang berbasis komputer yang berbasis web/internet termasuk di dalamnya maka potensi risiko semakin besar, risiko yang makin besar mendorong perlunya kontrol yang memadai dan memperhatikan kontrol tersebut dijalankan dengan sungguh-sungguh. (sanyoto, 2003:153) transaksi yang dilakukan hendaknya melalui pengamanan yang cukup dengan melakukan penelahan dengan jasa web hosting yang akan digunakan serta transaksi yang dilakukan harus menyediakan jejak (trail) sehingga memungkinkan fungsi audit dapat dijalankan dengan baik. untuk langkah ke-4 ini dapat juga mempergunakan jasa pembangun web bila dana untuk itu tersedia. 5. menjalankan bisnis berbasis web/internet. a. menentukan web hosting penentuan web yang telah dibangun untuk ditempatkan penting dan hal yang harus diperhatikan adalah fasilitas yang disediakan oleh penyedia jasa web hosting serta memperhatikan perjanjiannya. b. akuntansi pengelolaan akuntasi manajemen (untuk kebutuhan internal) maupun akuntansi keuangan (untuk kebutuhan eksternal) untuk perusahaan yang berbasis web/internet harus mengikuti standar akuntansi yang telah ditetapkan. c. kepemimpinan aspek kepemimpinan menjadi sangat penting karena dalam bisnis yang bebrbasis web bagaimana memotivasi dan membuat pekerja lainnya berinisiatif menjadi kunci sukses. d. komunikasi komunikasi pada bisnis berbasis web mau tidak mau memaksa karyawan untuk mempelajari dan menggunakan teknologi yang tersedia untuk berkomunikasi. perlu adanya disiplin baru, misalnya dalam waktu penentuan pengecekan surat masuk, waktu rapat bersama, dan hal lainnya yang nantinya akan menjadi budaya perusahaan. komunikasi yang baik dapat memungkinkan penyimpangan terdeteksi secara dini bahkan mencegah terjadinya penyimpangan. penutup simpulan membangun bisnis yang berbasis web/internet dari awal lebih baik karena mengurangi penyesuaian yang diperlukan. bila perusahaan telah berjalan dan hendak dibuatkan unit berbasis web atau internet, sebaiknya unit yang berbasis web didirikan secara independen dan bila perlu dibiarkan mengkanibal intinya. alasan dan langkah pembangunan bisnis berbasis web (idris gautama) 45 langkah pembuatan web menyangkut selain aspek teknikal juga kontrol dan auditabilitas. menjalankan bisnis berbasis web/internet atau disebut juga e-business perlu memperhatikan jasa web hosting, aspek akuntansi, kepemimpinan, dan komunikasi. daftar pustaka afuah, allan dan christopher l. tucci. 2003. internet business models and strategies 2nd edition. new york: mcgraw hill. eisenmann, thomas r., roger hallowell, dan mary tripsas. 2002. internet business models, text, and cases. new york: mcgraw hill-irwin. gondodiyoto, sanyoto dan idris gautama so. 2003. audit sistem informasi: pendekatan konsep. jakarta: pt media glbal edukasi. hisrich, robert d., dan michael p. peters. 2002. entrepreneurship. 5th edition. singapore: mcgraw hill higher education. hitt, michael a., r. duane ireland, dan robert e. hoskisson. 2001. strategic management competitiveness and globalization concepts. south western college publishing. reding, elizabeth eisner. 2001. building an e-business from the ground up. new york: mcgraw hill-irwin. sugars, bradley j. 2002. billionaire in training. 1st edition. action international pty ltd, brisbane _____________. 2000. instant cashflow the key to multiplying your business profits. 2nd edition. singapore: action international (asia) pte.ltd, tjager, i nyoman, f. antonius alijoyo, humprey r. djemat, dan bambang soembodo. 2003. corporate governance tantangan dan kesempatan bagi komunitas bisnis indonesia. jakarta: pt. prenhallindo. accounting, business, management, and information system volume 2, nomor 1, maret 2001 issn: 1412 1212 pelindung ir. th. widia soerjaningsih, m.m. once kurniawan, s.kom., m.m. h. mohammad subekti, b.e., m.sc. redaktur utama dr. ir. haryono soeparno, m.sc. dewan redaksi e.a. kuncoro, s.e., m.m. ir. harjanto prabowo, m.m. retno sri handini, s.e., m.phil. mitra bestari dr. hekinus manao, m.acc., c.g.f.m. (universitas indonesia) dr. sudarwan, m.b.a., q.i.a. (universitas trisakti) dr. ir. roy sembel, m.b.a. (program pascasarjana universitas bina nusantara) edi timbul hardiyanto, s.e., ak., m.sc., m.b.a., b.a.p (institut pendidikan internal auditor indonesia) editor dra. endang ernawati, m.lib. sekretariat yanti, s.kom., m.m. triwiyana alamat sekretariat subbiro publikasi ilmiah bidang ekonomi, biro penelitian dan publikasi, universitas bina nusantara kampus syahdan, jl. k.h. syahdan no. 9, kemanggisan palmerah, jakarta barat 11480 telp. (021) 5345830, 5350660 ext. 2206 fax. (021) 5300244 e-mail: mgt2000@binus.ac.id issn 1412-1212 subbiro publikasi ilmiah bidang ekonomi universitas bina nusantara accounting, business, management, and information system volume 2, nomor 1, maret 2001 issn: 1412 1212 daftar isi kata pengantar.................................................................................................................. v chandra wibowo widhianto internet commerce managing financial on the internet................................................. 1-11 budiman notoatmojo; rudi rivai optimasi pengembangan embung di indonesia (optimation of embung utilization in indonesia)........................................................... 12-17 haryadi sarjono metode perhitungan angka indeks produktivitas menggunakan model marvin e mundel (method of productivity index number calculation by marvin e mundel model).......... 18-24 e. koestandar perlukah sistem nilai tukar free float dipertahankan (is it necessary the free float exchange rate regime to be preserved)......................... 25-37 agus eko nugroho trade policies and the export performance of indonesia, 1983-1997............................ 38-46 endang nuryadin upaya meningkatkan pendapatan bank melalui optimalisasi cross selling terhadappelanggan (the effort to increase bank income by cross selling optimation to customers)........... 47-54 m. takdir mulyadi realokasi pegawai sebagai salah satu upaya pengembangan karier (staff reallocation as one of efforts in developing carrier).......................................... 55-65 idris gautama; meirianty prawira; vianty prawira perencanaan strategi sistem informasi: studi kasus perusahaan asuransi jiwa (strategic planning of information system: a case study at life insurance company)... 66-92 kata pengantar journal the winners untuk penerbitan vol. 2 no. 1, maret 2001 berisi delapan artikel yang membahas masalah internet commerce managing financial on the internet, optimasi pengembangan embung di indonesia, metode perhitungan angka indeks produktivitas menggunakan model marvin e mundel, perlukah sistem nilai tukar free float dipertahankan, trade policies and the export performance of indonesia, 1983-1997, upaya meningkatkan pendapatan bank melalui optimalisasi cross selling terhadap pelanggan, realokasi pegawai sebagai salah satu upaya pengembangan karier, dan perencanaan strategi sistem informasi: studi kasus perusahaan asuransi jiwa. journal the winners ini merupakan hasil kerja penulis, tim redaksi, dan partisipasi segenap civitas akademika yang menekuni bidang ekonomi. mudah-mudahan jurnal ini bermanfaat bagi pembaca. jakarta, maret 2001 redaktur utama dr. ir. haryono soeparno, m.sc. journal the winners, vol. 2 no. 1, maret 2001 v internet commerce managing financial on the internet optimasi pengembangan embung di indonesia (optimation of embung utulization in indonesia) metode perhitungan angka indeks produktivitas menggunakan model marvin e mundel (method of productivity index number calculation by marvin e mundel model) perlukah sistem nilai tukar free float dipertahankan (is it necessary the free float exchange rate regime to be preserved) trade policies and the export performance of indonesia, 1983-1997 upaya meningkatkan pendapatan bank melalui optimalisasi cross selling terhadap pelanggan (the effort to increase bank income by cross selling optimation to customers) realokasi pegawai sebagai salah satu upaya pengembangan karier (staff reallocation as one of efforts in developing carrier) perencanaan strategi sistem informasi: studi kasus perusahaan asuransi jiwa (strategic planning of information system: a case study at life insurance company) microsoft word 08_telkom_citra_the influencedina.docx 64 journal the winners, vol. 16 no. 1, march 2015: 64-70  the influence of online store beliefs towards impulse buying (study on elevania.co.id) citra kusuma dewi; despri lolita br sinuraya school of communication and business telkom university, bandung, indonesia citrakusumadewi@telkomuniversity.ac.id; despri26@gmail.com abstract the rapid development of information technology brings a great impact to all aspects, including the development of business and marketing. the rapid growth of internet user makes online business becomes a potential market. one of the factors that determine the success of an online business is consumer beliefs to an online store. the purpose of this study is to determine the influence of online stores beliefs towards impulse buying on elevenia consumers. this study was conducted on elevenia consumers who have shopped at elevenia.co.id. sample size of 100 people with purposive sampling method. data was collected through questionnaires using a 5 point likert scale to measure 11 indicators. the analysis technique is multiple linear regression. the research found that the online store beliefs variable consist of functional convenience beliefs and representation delight, simultaneously influence impulse buying on elevenia consumers.while in partial functional convenience beliefs variable have no influence towards impulse buying on elevenia consumers. keywords: online store beliefs, impulse buying, elevenia.co.id abstrak pesatnya perkembangan teknologi informasi membawa dampak yang besar untuk semua aspek, termasuk pengembangan bisnis dan pemasaran. pesatnya pertumbuhan pengguna internet membuat bisnis online menjadi pasar yang potensial. salah satu faktor yang menentukan keberhasilan bisnis online adalah keyakinan konsumen terhadap sebuah toko online. tujuan penelitian untuk melihat pengaruh keyakinan kepada toko online terhadap pembelian tidak terencana pada konsumen elevenia. penelitian ini dilakukan pada konsumen elevenia yang telah berbelanja di elevenia.co.id. ukuran sampel adalah 100 orang dengan metode purposive sampling. data dikumpulkan melalui kuesioner dengan menggunakan skala likert 5-titik untuk mengukur 11 indikator. teknik analisis yang digunakan adalah regresi linier berganda. penelitian ini menemukan bahwa variabel kepercayaan kepada toko online yang terdiri dari keyakinan akan kenyamanan fungsional dan representasi yang menyenangkan, secara bersamaan mempengaruhi pembelian tidak terencana pada konsumen elevenia. sementara itu, secara parsial keyakinan akan kenyamanan fungsional tidak memiliki pengaruh terhadap pembelian tidak terencana pada konsumen elevania. kata kunci: online store beliefs, pembelian tidak terencana, elevaia.co.id the influence of online store …… (citra kusuma dewi; despri lolita br sinuraya) 65  introduction technology has an important role in human life, especially the internet. the increasing of internet users leads the internet is not only used for information and communication facilities, but can also be used as a trade medium known as e-commerce (nugraha, 2014). the rapid growth in ecommerce indirectly brings new phenomenon or a new lifestyle in indonesia. e-commerce makes consumers shopped in shorter time without having to linger around the mall to find the desired item. through the online store, consumers are not impeded by the distance and can be accessed anywhere that makes it easy for consumers to find an online store. elevenia.co.id as the first marketplace concept that launched in 2014, is one of online sites in indonesia that utilizes the development of e–commerce. elevenia must understand consumer behavior as the target market, to provide assurance to consumers in making a purchase at elevenia. in order to reap success in indonesia, the company is necessary to study the unique characteristic owned by indonesian consumers. according to irawan, there are 10 characteristics of indonesian consumer behavior, unplanned characteristics (dominated by unplanned behavior) or i want it now characteristics (sunyoto, 2013). in online business, the goods traded are intangible, so it is required for an online store to offer, give information, and provide attractive appearance to inflict desire to do impulse buying. factors that determine the success of a business, especially an online sale is consumer beliefs to shop online because consumers will experience the process of online shopping decisions such as finding information, comparing alternatives, and decision making. at this stage of information search, consumers will look for reference online. the information sought is in the form of opinions from other people who are already benefiting from the products purchased. so that, as an online store, it is important to observe online store beliefs by making it easier to use, such as a simple search, ease of buying the product, and provide confidence and excitement experience during shopping for consumers (suhari, 2011). online stores beliefs are online transaction which has a certainty and asymmetric information. as a result, there is the need for mutual trust between shoppers and sellers. online store beliefs same with the perception of functional convenience consisting of merchandise attractiveness and ease of use and representational delight include enjoyment and communication style website (verhagen & van dolen, 2011). online store beliefs is one of the factors in the occurrence of unplanned or impulse buying. according to engel and blackwell, unplanned buying is actions of purchases without previous planned or planned in purchase decisions were made at the time were in the stores (in japarianto & sugiharto, 2011). meanwhile, according to bloch et al, consumers without intention to buy something from a store, may enter a store and may make impulse buying (gültekin & özer, 2012). according to stern, there are four types of impulsive purchase (utami, 2010): (1) pure impulse; (2) reminder impulse; (3) suggestion impulse; (4) planned impulse. based on the explanation and the above factors, a study was conducted to determine the online store beliefs which can lead to impulse purchases on elevenia.co.id. based on the background described, the research problem is formulated as follows: (1) how do the online store beliefs on elevenia consumers?; (2) how does the impulse buying on elevenia consumers?; (3) how much is the influence of online store beliefs towards impulse buying on elevenia consumer by partial?; (4) how much is the influence of online store beliefs towards impulse buying on elevenia consumers insimultaneously? 66 journal the winners, vol. 16 no. 1, march 2015: 64-70  ib = a + b1fcb+ b2rd method the method used is quantitative. based on the type, this research is a descriptive study to give an idea of the object under study and have a causal relationship. the main data used are primary data, which is acquired by distributing questionnaires to the respondents. the analysis tool used is descriptive analysis and multiple linear regression analysis. variables of this research are; (1) online store beliefs (osb) based on verhagen & van dolen (2011) theory, which is consisting of two variables; (a) functional convenience beliefs (fcb) includes ease of use in using the online store which is easy to search and easy to buy products; (b) representational delight (rd) includes on the characteristics of online shopping with providing trust and online shopping excitement experience for consumers. (2) impulse buying (ib) is an action of purchases without previous planned or planned in purchase decisions was made at the time were in the stores (engel in japarianto & sugiharto, 2011). population is the generalization region consisting of objects or subjects that have certain qualities and characteristics defined by the researchers to learn and then drawn conclusions (sugiyono, 2012). the population in this research is the consumer who has purchased a product at elevenia.co.id in 2014. the sample is part of the number and characteristics possessed by this population (sugiyono, 2012). given the number of the population cannot be known with certainty, then in determining the number of samples using zikmund approach in order to get the total sample of 97 people, is rounded to 100 people (zikmund, et al. 2010). the sampling technique in this study is a non-probability sampling technique with purposive sampling, so that each respondent can be filtered through a screening question contained in the questionnaire study. to analyze the data that has been collected, the researcher used descriptive analysis and multiple linear regression analysis and hypothesis testing using partial test and simultaneous. multiple linear regression equation as follows: (1) ib : impulse buying fcb : functional convenience beliefs rd : representational delight the framework of this study is described as follows: figure 1 framework the influence of online store …… (citra kusuma dewi; despri lolita br sinuraya) 67  hypotheses from the study; (1) functional convenience beliefs (x1) influence impulse buying (y) on elevenia consumers; (2) representational delight (x2) influence impulse buying (y) on elevenia consumers; (3) online stores beliefs (x) simultaneously influence impulse buying (y) on elevenia consumers. results and discussion the results of data processing, descriptive analysis of the results obtained for the three variables shown in table 1 as follows: table 1 scores and category from table 1, it can be explained that fcb consisting of merchandise attractiveness and ease of use is within good category. it can be seen from the average scores obtained in the amount of 72.93%. it shows that elevenia as online store provides facilities that are easy to search products and to buy products. dcb is consisting of enjoyment and website communication style is also in a good category, and it can be seen from the average value of scores obtained in the amount of 70.90%. this suggests that elevania gives confidence to shop online and pleasant shopping experience, such as the colorful appearance of the site and attractive website design. it aims to change the desire of consumers shopping into a pleasure shopping. impulse buying variable also in a good category, it can be seen from the average scores obtained in the amount of 71.60%. this indicates that the most of elevenia consumers made the purchases impulse or unplanned as a result of external factors and internal factors. the external factors such as discounts, vouchers, and attractive products, and then the internal factors such as shopping motivation, which came immediately from elevenia consumers. multiple linear regression analysis the results showed the regression equation between online stores beliefs towards impulse buying on consumers elevenia as follows: y = 1.263 + 0,042x1 + 0,512x2. the results of this analysis can be shown as follows: a = 1.263 if functional convenience beliefs variable and representational delight variable are zero then the impulse buying is worth 1,263 units. b1 = 0,042 if functional convenience beliefs variable (x1) an increase of one unit and the other variable constant, then the variable impulse buying (y) will increase by 0,042 units. variables average scores average percentage category fcb 1639,5 72,93 % good rd 1063,5 70,90% good ib 1432 71,6% good 68 journal the winners, vol. 16 no. 1, march 2015: 64-70  b2 = 0,512 if representational delight variable (x2) an increase of one unit and the other variable constant, then the variable impulse buying (y) will increase by 0.512 units. hypothesis testing based on the data processing, it can produce output in table 2. table 2 t test results (partial test) model unstandardized coefficients standardized coefficients t sig. b std. error beta 1 (constant) 1,263 ,215 5,881 ,000 fcb ,042 ,121 ,050 ,348 ,728 rd ,512 ,116 ,635 4,420 ,000 a. dependent variable: impulse buying based on these criterion, it can be explained each of the variables as follows: (1) functional convenience beliefs (fcb), test results for the functional convenience beliefs variable shows that value(0.348)<t table (1.985) or views of sig (0.728)> 0.05, then h0 is accepted and ha rejected, it means that functional convenience beliefs doesn’t have influence towards impulse buying on elevenia consumers. it is possibly because the goods that sold in elevania are not famous and branded. goods that sold in elevenia are from local smes that do cooperation with elevania; (2) representational delight variable, test results for the representational delight variable shows the value t = 4.420> 1.985 t table or views of sig (0,000) <0.05, then h0 is rejected and ha accepted, it means that representational delight has influence towards impulse buying on elevenia consumers. it shows that elevenia gives trust to online shopping and gives an enjoyable shopping experience by a display of colored site and website design which draws to change the desire of consumers to get shopping pleasure. based on the data processing, it can produce output in table 3. table 3 f test results (simultaneosly test) based on table 3, it can be seen the f value (41.447)> f table (3.09) and the sig. (0,000) <0.05. it means that the online store beliefs consisting of functional convenience beliefs and representational delight have influence towards impulse buying on elevenia consumers simultaneously. model sum of squares df mean square f sig. 1 regression 18,749 2 9,374 41,447 ,000b residual 21,939 97 ,226 total 40,688 99 the influence of online store …… (citra kusuma dewi; despri lolita br sinuraya) 69  results of this study showed that the representational delight was important to impulsive buying. in order to stimulate impulsive buying, online retailers should create a calm, friendly, knowledgeable, and fun site with an attractive assortment; providing pleasure when customers browse through it (verhagen & dolen, 2011). according to joseph s., et al(2007), website display would affect impulse buying to consumers. consumers with high degrees of impulsiveness tend to be more positively influenced by a high-quality website. at the same time, highly impulsive consumers are more negatively influenced by a low-quality website. thus, while the objective quality of an ecommerce website is an important factor, an understanding of the inherent impulsiveness of the consumer base is a critical factor for understanding how and why consumers react to varying degrees of website quality. interesting and quality of elevenia website display would make consumers to spend their time to browse the website and it will prevent boredom on consumers. this will make the consumer doing impulse buying. the coefficient of determination (r2) the result of r2 can be seen in table 4. table 4 coefficient of determination based on the calculations in table 5, the value of coefficient determination of 46.1%. it can be interpreted that the influence of online store beliefs on elevenia consumers is 46.1%, as for the rest of 53.9% influenced by other factors. conclusion based on the results of the processing of data analysis and discussion that has been described in the previous chapter on the influence of online stores beliefs against impulse buying on elevenia consumers, researchers can attract some conclusions that can provide answers to the formulation of the problem in this study, as follows: (1) based on the results of data processing, online stores beliefs has average score of 71.92%, which indicates that the online store beliefs variable is good in the eyes of elevania consumers. elevenia is able to provide the convenient transaction and enjoyable shopping experience for every customer; (2) impulse buying have average total score of 71.60%, which indicates that impulse buying variable is good. it means that most consumers elevania doing impulse buying when shopping at elevenia; (3) based on the results of t test showed that functional convenience variable have not influence towards impulse buying on elevenia consumers, while the representational delight variable have influence towards impulse buying on elevenia consumers. in partial online store beliefs influence impulse buying on elevenia consumers, those are functional convenience beliefs amount of 3% and representational delight amounted 43.1%; (4) simultaneously influence of online store beliefs against impulse buying on elevenia consumers. the effect of simultaneously online store beliefs against impulse buying on consumers elevenia of 46.1%, while the remaining 53.9% is influenced by other factors, namely: emotional factors, trust factor, demographic factors, the nature of materialism and others. based on the results of the f test online store beliefs affect the impulse buying on elevenia consumers by simultaneously. model r r square adjusted r square std. error of the estimate 1 ,679a ,461 ,450 ,47558 70 journal the winners, vol. 16 no. 1, march 2015: 64-70  references gültekin, beyza., leyla özer. (2012). the influence of hedonic motives and browsing on impulse buying. journal of economics and behavioral studies, 4(3). 180-189. japarianto, edwin., dan sugiono sugiharto. (2011). pengaruh shopping life style dan fashion involvement terhadap impulse buying behavior masyarakat high income surabaya. jurnal manajemen pemasaran, 6(1). 32-41. nugraha, firman. (2014). tekno jurnal. data pengguna internet di dunia. retrieved october 16th, 2014 from http://www.worldstats.com/stats.htm suhari, yohanes., et al. (2011). kepercayaan terhadap internet serta pengaruhnya pada pencarian informasi dan keinginan membeli secara online. jurnal dinamika informatika, 3(1). sugiyono. (2012). metode penelitian kuantitatif, kualitatif, dan r&d. bandung: alfabeta. sunyoto, danang. (2013). perilaku konsumen. yogyakarta: caps (center of academic publishing service). utami, christina. (2010). manajemen ritel strategi dan implementasi operasional bisnis ritel modern di indonesia. jakarta: salemba empat. valacich, joseph s., et al. (2007). the online consumer’s hierarchy of needs. communications of the acm, 5(9). 83-90. verhagen, tiber., dan willemijn van dolen. (2011). the influence of online store beliefs on consumer online impulse buying: a model and empirical application. journal information & management, 48. 320-370. zikmund, william, et al. (2010). business research methods, eight edition. canada, south western cengage learning. microsoft word 02_mn_darman_160816_rev1_dina.doc analysis of the money supply …… (darman) 9  analysis of the money supply and interest rate of inflation in indonesia darman management department, school of business management, bina nusantara university jln. k.h. syahdan no.9, palmerah, jakarta barat, 11480 darman@binus.ac.id / darmantanjung@yahoo.com abstract articleaimed to assess and analyze the effect of money supply and the interest rate on inflation in indonesia. this research applied descriptive quantitative approach with the nature of the explanatory method verification. the data used was secondary data in the money supply, interest rate and inflation in indonesia in 2000-2014. the results of this article are the partial test (t-test) indicates the money supply (x1), the rate of interest (x2) and there is no effect on inflation (y). while the results of the simultaneous test (f test) shows a strong and direct relationship between money supply and the interest rate on inflation. this means that the money supply and interest rates affect the rise and fall of inflation in indonesia. keywords: money supply, interest rate, inflation introduction one of the macro-economic indicators that are used to see the stability of the economy of a country is inflation. inflation is the increase in the prices of goods in general and applies continuously. this does not mean that the price of various goods rose by percentage. in this case, there can be the increases in a general price of goods continuously for a certain period, but if the increases that occurred only once although in a considerable percentage, it is not called as inflation. high inflation and an unstable reflection of the trend of rising price levels for goods and services are in general and continuously over a given period. the rise in the price level of goods production will affect the decline in production in the next period. furthermore, it will impact on the decline in investment. the decline in investment leads to national income will drop, which in turn affects the stability of economic activity. based on the financial and economic statistics indonesia, the inflation in 2000 – 2014 fluctuates. the highest inflation rate is in 2005 at 17,11%, and the lowest is in 2009 at 2,78%. inflation period 2000 2014 can be seen in table 1. table 1 inflation in indonesia at 2000-2014 year inflation change 2000 9,35 2001 12,55 3,2 2002 10,03 -2,52 2003 5,16 -4,87 2004 6,40 1,24 2005 17,11 10,71 10  journal the winners, vol. 17 no. 1, march 2016: 9-18  table 1 inflation in indonesia at 2000-2014 (continued) (source: bps) many factors that affect the rate of inflation including the money supply and interest rates. a country's economic activity is never separated from money activities. then, payment means money payment transactions regarding the amount of money in circulation. changes in the money supply will affect the economic activities in various sectors. increasing the excessive money supply can be boosted prices (high inflation) that exceeded the expected level so that in the long term could undermine economic growth. conversely, if the increase in the money supply is very low, the economic downturn will occur. if this continues, the prosperity of society as a whole, in turn, will decrease. thus, management of the money supply must always be done with care by considering the effect that will occur (angraini, 2012). the interest rate is one indicator of a healthy or unhealthy economy of a country. the interest rate is high or low will greatly affect the economy. the high-interest rates will encourage investors to put money in the bank rather than investing in the industrial sector, and the greater risk of inflation can be controlled. conversely, when the interest rate falls, people are more likely to hold money from the savings in banks which caused the money supply increases. this makes the price of goods will increase. the issues that will be examined in this article are (a) is there any influence of the money supply and interest rate of inflation in indonesia partially? (b) is there any influence of the money supply and interest rate on inflation in indonesia simultaneously? while research purposes of this study are (a) to find out the effect of the money supply and interest on inflation in indonesia partially, (b) to find out influence of the money supply and interest rate on inflation in indonesia simultaneously. methods this research uses quantitative methods by using approach deductive and inductive departing from the framework theory. the idea of experts or understanding the researcher based on his experiences that later developed into the problems and their solution proposed for justification in the form of support of empirical data in the field (tanzeh, 2009). in this study, quantitative method is regressional, which aims to see the effect of one variable to another variable. the technique of data collection is a way of collecting data that needed to answer the research problem formulation. the technique primarily is used in data collection of this article is a research library that the data collection in the form of documentation and other references from third parties. this article is limited to annual quantitative analyzing secondary data in the period between the years year inflation change 2006 6,60 -10,51 2007 6,59 -0,01 2008 11,06 4,47 2009 2,78 -8,28 2010 6,96 4,18 2011 3,79 -3,17 2012 4,30 0,51 2013 8,38 4,08 2014 8,36 -0,02 analysis of the money supply …… (darman) 11  2000 2014 with the availability considerations data. data are any explanation or information on matters relating to the overall purpose of this research that using secondary data. secondary data used for the article is conducted on the object that is macro and easily to get. data are processed in accordance with the needs of the model used. sources of data are derived from various sources, including indonesia statistics that published by the central statistics agency, economic and financial statistics indonesia, the monetary policy report that published by bank indonesia, and peer-reviewed scientific journals and other literature relating to the topic of this research. in addition, the authors also conduct a literature study to get the theory behind the research. literature study is obtained through scientific journals and libraries. data analysis method is the processing of research data to obtain a conclusion after research data collected. methods of data analysis in this study are the quantitative analysis technique simple regression and multiple linear regressions that are previously held assumption classical test. in this article, analysis of the data processed uses the program statistical product and service solutions (spss) version 20. the method of analysis uses simple regression analysis, multiple regression analysis, and hypothesis thesis. simple regression analysis is based on the functional relationship between independent variables with no dependent variable. the general formula of simple regression analysis is: y = a + bx + e (1) where y= dependent variable x = independent variaebel a= a constant value b = coefficient of regression e = error term in a simple regression analysis, variables to be analyzed are as money supply (x1) on inflation (y) and interest rate (x2) on inflation (y). multiple regression analysis is used to test the effect of independent variables on the dependent variable, in which multiple regressions is the number of independent variables that will be tested more than one.in multiple regression analysis, the variables will be analyzed.the general formula of multiple regressionis: y = a + b1x1 + b2x2 + e (2) where y = dependent variable x = independent variable a = a constant value b = coefficient of regression e = error term then, the hypothesis is a statement that will be verifiable. test hypothesis is partial test (t-test) and a simultaneous test (f test). the partial test is used to test each independent variable whether the money supply (x1), interest rates (x2) has the positive and significant effect on the dependent variable, namely inflation (y) partially. rule decision by t-test is using spss version 20 with significance level is set at 5% as follows (1) if the significance value > 0,05, then ho is accepted and ha is rejected, or partially independent variable has no effect on the dependent variable; (2) if the 12  journal the winners, vol. 17 no. 1, march 2016: 9-18  significance value < 0,05, then ho is rejected, and ha is accepted, or partially independent variables affect the dependent variable discount. the simultaneous test is used to see if the independent variable is total money supply (x1) and interest (x2) together have a positive and significant impact on the dependent variable, namely inflation (y). criteria for decision making in the f test using spss version 20 with a significance level of 5% set is as follows (1) if the significance value > 0,05, then ho is accepted and ha is rejected, or not independent variables can explain the dependent variable or no influence between the variables tested; (2) if the significance value < 0,05, then ho is rejected, and ha accepted, or independent variables can explain the dependent variable or no influence between the variables tested. there are several researches has discussed about this topic. research byherlambang (2012) that based on the results of multiple regression analysis states, the money supply, the government policy in the form of monetary policy that are able to increase the money supply can be carried out because it does not affect the rate of inflation. the exchange rate is not significant and positive impact on inflation. when the government risesthe interest rates sbi (sertifikat bank indonesia/bank indonesia certificates), government needs to conduct other policies that encourage people to be more productive, rather than lowering the profit from interest. while the sbi interest rate have a significant effect on inflation. the exchange rate (usd) is not significant to inflation hence the need for government efforts to stabilize the rupiah exchange rate against the dollar. research conducted by nova riana (2008), with linear multiple regression analysis, has found that the changes of sbi interest rate, exchange rates, and money supply provide a response to the effects of changes in inflation. multiple regression analysis results liner stated that the biggest surprise explanatory fluctuations in inflation to interest rate changes sbi against inflation. the effect of changes in inflation surprises on the declining fluctuation changes but it still provides a great impact. on changes in inflation gives less influence in explaining the variation of exchange rate changes and the money supply changes. however, the ability of the inflation surprises more increased. in the speed of exchange rate is adjustments and significant enough to return to equilibrium. by using multiple linear regression shows that the money supply, the sbi interest rate, and exchange rate have significant contribution in influencing inflation in indonesia. while conducting research on "the effect of the interest rate of sbi and the money supply on inflation rate in indonesia from 1995-2004" by using multiple regression analysis,calculation shows that the variable interest rate of sbi has a negative and significant effect on the inflation rate. a variable amount of money in circulation has a positive and significant impact on the inflation rate. with the value of adjusted r-square statistic (r2) of 0,75, which means the independent variable in the regression model after adjusting held can explain the variation of thedependent variable by 75% and the rest is explained by other factors outside the equation. this may implies that the variable interest rate of sbi and the money supply can be explained by the strength 75% of the inflation rate in indonesia.rahmawati (2011) in her research has said that inflation is strongly influenced by the money supply and interest rates. results and discussions in simple regression analysis, it finds out that how much influence between the money supply on inflation presented in following table 2, 3, and 4. it shows the effect of jub (jumlah uang beredar/the money supply) (x1) against inflation (y). analysis of the money supply …… (darman) 13  table 2 anovaa of jub against inflation model sum of squares df mean square f sig. regression 20,539 1 20,539 1,543 0,236b residual 173,032 13 13,310 tot total 193,571 14 depenndent variable: inflation predictors: (constant), jub anova a significant level in table 2 is 0,236 less than 0,05, so it can be concluded that the money supply (x1) has no effect on inflation (y) or decision is 0,236 > 0,05. it can be said that there is no influence between jub on inflation. table 3 model summarybof jub against inflation model r square adjusted r square std. error of the estimate 1 0,106 0,037 3,64831 predictors: (constant), jub dependent variable: inflation the decision is 0,326 < 0,5r = + with conclusion that there is no strong and direct relationship between jub with inflation. table 4 coefficientsaof jub against inflation model unstandardized coefficients standardized coefficients t sig. b std. error beta (constant) 10,170 2,012 5,055 0,000 jub -1,201e-006 0,000 -,326 -1,242 0,236 depependent variable: inflation regression equations: y = a + bx1 (1) a = constant value b = regression coefficients y = inflation x1 = jub y = 10,170 + (-1,201) x1 or y = 10,17 01,201x1 the following table 5, 6, and 7 show the influence of interest rates (x2) against inflation (y). 14  journal the winners, vol. 17 no. 1, march 2016: 9-18  table 5 anovaa of interest rates againts inflation model sum of squares df mean square f sig. regression 111,713 1 111,713 17,741 0,001b residual 81,858 13 6,297 total 193,571 14 a. dependent variable: inflation b. predictors: (constant), interest rate the decision is 0,001 > 0,05 with conclusion that there is no effect between interest rate (x2) against inflation (y). table 6 model summarybof interest ratesagaints inflation model r r square udjusted r square std. error of the estimate 1 0,760a 0,577 0,545 2,50934 redictors: (constant), interest rate b. dependent variable: inflation the decision is 0760 > 0,5 and r = + with conclusion that the existence of a strong and direct relationship between interest rates with inflation. table 7 coefficientsa of interest rates agiants inflation model unstandardized coefficients standardized coefficients t sig. b std. error beta (constant) 0,119 1,971 0,060 0,953 interest rate 0,891 0,212 0,760 4,212 0,001 dependent variable: inflation regression equations: y = a + bx2 (2) a = constant value b = regression coefficients y = inflation x2 = interest rate y = 0,119 + 0,891 x2 in table 8, 9, and 10 show the effect of jub (x1) and the interst rate (x2) against inflation (y) withmultipleregeression results. table 8 anovaaof jub (x1) and the interest rate (x2) againts inflation (y) model sum of squares df mean square f sig. regression 113,834 2 56,917 8,566 0,005b residual 79,737 12 6,645 total 193,571 14 dependent variable: inflation analysis of the money supply …… (darman) 15  the decision is 0,005 > 0,05 with conclusion that there is no influence between jub and interest rates on inflation. table 9 model summarybof jub (x1) and the interest rate (x2) againts inflation (y) the decision is 0,767 > 0,5 and r = +, with conclusion that the existence of a strong and direct relationship between the jub and interest rates on inflation. table 10 coefficientsa of jub (x1) and the interest rate (x2) againts inflation (y) regression equations: y = a + bx1 + bx2 (3) a = constant value b = regression coefficients y = inflation x1 = jub x2 = interest rate y = -1,429 + 4,600x1 + 0,971x2 table 11 shows the test result t (partial) variable jub (x1) against inflation (y): table 11 coefficientsa of the test result t (partial) variable jub (x1) against inflation (y) model unstandardized coefficients standardized coefficients t sig. b std. error beta (constant) 10,170 2,012 5,055 0,000 jub -1,201e-006 0,000 -,326 -1,242 0,236 dependent variable: inflation the decision is sig 0,236 > 0,05 and t count (-1,242) < 1,77, with conclusion that partial jub has no influence on inflation. model r r square adjusted r square std. error of the estimate 1 0,767a 0,588 0,519 2,57774 predictors: (constant), jub, interest rate dependent variable: inflation model unstandardized coefficients standardized coefficients t sig. b std. error beta (constant) -1,429 3,406 -0,419 0,682 interest rate 0,971 0,259 0,828 3,747 0,003 jub 4,60e-07 0 0,125 0,565 0,582 a. d dependent variable: inflation 16  journal the winners, vol. 17 no. 1, march 2016: 9-18  table 12 coefficientsaof test t variable interest rate (x2) against inflation (y) model unstandardized coefficients standardized coefficients t sig. b std. error beta (constant) 0,119 1,971 0,060 0,953 interest rate 0,891 0,212 0,760 4,212 0,001 dependent variable: inflation the decision of table 12 is sig 0,001 > 0,05 and t calculate 4,212 > 1,77. while the test results f (simultaneous) shows in table 13. table 13 anovaaof test f variable jub (x1) and interest (x2) against inflation (y) model sum of squares df mean square f sig. regression 113,834 2 56,917 8,566 0,005b residual 79,737 12 6,645 total 193,571 14 a. dependent variable: inflation b. ppredictors: (constant), jub, interesr rate the decision of table 12 is sig 0,005 > 0,05 and 8,556 f count > 3,89. conclusion this article aims to assess the effect of the money supply, the interest rate bi (bank indonesia) on the inflation rate in indonesia during the period 2000 2014 using simple linear regression and multiple regression linear. from the analysis and discussion that has been done, it can be concluded that to know the influence of the money supply on inflation and interest rates on inflation do partial test (t-test). because t count = 0,236 is smaller than t alpha = 0,05 so it can be concluded that the money supply (x1) has no effect on inflation (y). the next test variable x2 to y where t is also smaller than t alpha, and it is also concluded that interest rate (x2) has no effect on inflation (y). then to determine how much influence the money supply (x1) and interest rates (x2) on inflation in indonesia that conducted the simultaneous test (f test). in conclusion, since f count is larger than f table, then the null hypothesis is rejected, and the hypothesis is the acceptable alternative. that is jointly variable in the money supply and interest rate effect on inflation in indonesia. based on the conclusions from the results, then this part put forward some suggestions and recommendations as for controlling inflation through monetary policy can be achieved by controlling the money supply. the increase in the money supply should correspond to the real needs of society and adjusted with the inflation target of the bank of indonesia. inflation can be suppressed with highinterest rates so that people are more likely to save money in the bank. for further research is recommended to add other variables that are expected to seek the best solution to overcome inflation in indonesia. analysis of the money supply …… (darman) 17  references angraini, n. (2012). analisis pendapatan nasional, tingkat suku bunga sbi dan giro wajib minimum terhadap jumlah uang beredar di indonesia. pekanbaru: universitas riau. herlambang, h. (2012). analisis pengaruh jumlah uang beredar, suku bunga sbi, nilai tukar terhadap tingkat inflasi. jakarta: fakultas ekonomi universitas trisakti. rahmawati. (2011). pengaruh jumlah uang beredar, pengeluaran pemerintah, dan suku bunga terhadap tingkat inflasi di nanggaroe aceh darusalam. jurnal aplikasi manajemen, 9 (1), 177-188. riana, n. (2008). pengaruh suku bunga sbi, nilai tukar dan jumlah uang beredar terhadap inflasi di indonesia. jakarta: universitas trisakti. tanzeh, a. (2009). pengantar metode penelitian. yogyakarta: teras. 18  journal the winners, vol. 17 no. 1, march 2016: 9-18  appendix table 1 development of inflation, jub, and interest rate in indonesia 2000-2014 year inflation (%) y jub (billion) x1 interest rate (%) x2 2000 9,35 747,028 12,05 2001 12,55 786,741 16,59 2002 10,03 849,410 12,84 2003 5,16 944,366 6,61 2004 6,40 1,033,877 6,17 2005 17,11 1,202,722 11,84 2006 6,60 1,382,493 8,71 2007 6,59 1,649,662 8,00 2008 11,06 1,895,839 9,25 2009 2,78 2,141,384 6,50 2010 6,96 2,010,707 6,50 2011 3,79 2,571,213 6,00 2012 4,3 3,043,937 5,75 2013 8,38 3,465,392 7,02 2014 8,36 3,867,680 8,17 8 journal the winners, vol. 15 no. 1, maret 2014: 8-14 meningkatkan niat pembelian pada website pt travelicious indonesia hamdan indofood, sudirman plaza, indofood tower, lantai 27 jln. jend. sudirman kav. 76–78, jakarta 12910 hamdanlee92@gmail.com abstract today, the use of technology in the world of business is no longer considered uncommon. technology and internet are rapidly growing, and thus a lot of companies are now starting to see promising business opportunities via the internet. the objective of this research is to increase purchase intention on pt travelicious indonesia’s website (www.travelicious.co.id) in order to make the company survive and ready to face the competition by increasing customer’s purchase intention. this research analyzed the effect of website quality and perceived quality on brand image and its impact on purchase intention at pt travelicious indonesia. the methodology of this research is path analysis. the result of the research reveals that there is a positive and significant influence between website quality and perceived quality towards brand image and its impact on purchase intention. keywords: website quality, perceived quality, brand image, purchase intention abstrak penggunaan teknologi dalam dunia bisnis sekarang sudah bukan hal yang jarang lagi. dunia teknologi dan internet berkembang sangat pesat di dunia sehingga banyak perusahaan sekarang mulai melihat peluang bisnis yang cerah melalui media internet. penelitian ini bertujuan untuk meningkatkan niat pembelian pada website pt travelicious indonesia (www.travelicious.co.id) agar dapat bertahan dan siap dalam menghadapi persaingan dengan cara meningkatkan niat pembelian konsumen. dalam penelitian ini dilakukan analisis pengaruh dari website quality dan perceived quality terhadap brand image dan dampaknya terhadap purchase intention pada pt travelicious indonesia. metode penelitian yang digunakan dalam penelitian ini adalah analisis jalur. hasil dari penelitian ini menjelaskan bahwa terdapat pengaruh yang positif dan signifikan antara variabel website quality dan perceived quality terhadap brand image dan dampaknya terhadap purchase intention. kata kunci: website quality, perceived quality, brand image, purchase intention meningkatkan niat pembelian..... (hamdan) 9 pendahuluan penggunaan teknologi dalam dunia bisnis sekarang sudah bukan hal yang jarang lagi. dunia teknologi dan internet berkembang sangat pesat di dunia, tak terkecuali di indonesia. hal ini mengakibatkan jumlah pengguna internet saat ini makin besar dan bertambah terus setiap harinya. berdasarkan hasil riset yang dilakukan oleh pangerapan (2013), diperkirakan tiga tahun lagi jumlah pengguna internet di indonesia diharapkan bisa mencapai setengah dari total populasi. meningkatnya jumlah pengguna internet ini menyebabkan melonjaknya jumlah penggunaan layanan pembelian secara online sebesar 22,8 persen dari total pengguna, yaitu setara dengan 13 juta pengguna. oleh sebab itu, dapat dikatakan bahwa indonesia merupakan “pasar yang besar” dalam industri bisnis (jual beli) yang bergerak di bidang online. perkembangan dunia teknologi dan alat-alat komunikasi pada saat ini berimbas pada maraknya dunia perdagangan online. menurut survei global terbaru nielsen online, lebih dari 85 persen populasi online didunia telah menggunakan internet untuk melakukan transaksi pembelian. di indonesia, ditemukan sebanyak 33,5 persen responden pernah berbelanja online. barang yang mereka beli adalah produk fashion atau pakaian, elektronik, aksesori, dan sebagainya. sebanyak 53,2 persen responden yang berbelanja secara online adalah mereka yang pengeluarannya lebih dari rp 2 juta per bulan. dalam hal ini, pt travelicious indonesia adalah perusahaan yang bergerak dalam bisnis online melalui situs daily deals. daily deals secara sederhana dapat diartikan sebagai sebuah layanan yang memberikan penawaran terhadap sebuah produk/jasa di bawah harga normal (biasanya berupa diskon-diskon). situs daily deals merupakan salah satu model bisnis online yang saat ini sedang populer dan berkembang di dunia. model yang ditawarkan oleh banyak situs daily deals yang saat ini ada sangat khas dengan tawaran diskon yang makin marak. akuisisi deal keren oleh living social dan disdus oleh groupon membuktikan bahwa situs daily deals punya prospek cerah dan tak bisa dielakkan dari perkembangan bisnis digital di tanah air. dalam nugraha (2011) dituliskan, ceo deal keren berkata: “para pebisnis selalu mencari cara untuk mempromosikan diri dan meraih pelanggan dengan efektif sebisa mungkin tanpa harus mengeluarkan biaya yang besar, sedangkan masyarakat sebagai konsumen akan selalu mencari cara untuk berhemat tanpa mengorbankan kegemaran berbelanja dan bersenang-senang”. oleh karena itu, dapat dikatakan bahwa layanan situs daily deals merupakan solusi bagi kebutuhan pebisnis dan konsumen dengan skema yang sama-sama saling menguntungkan. oleh karena itu, pt travelicious indonesia melihat bahwa tren bisnis daily deals akan makin berkembang pada masa yang akan datang, apalagi setelah mengetahui bahwa perkembangan jumlah pengguna internet di indonesia yang makin lama makin besar. pt travelicious indonesia baru berdiri selama kurang lebih 1,5 tahun. sebagai perusahaan pendatang baru yang bergerak di bidang bisnis penyedia layanan daily deals, situs pt travelicious indonesia belum dikenal oleh banyak orang dibandingkan dengan para pesaingnya seperti disdus.com dan livingsocial.co.id. dari hasi hasil observasi diketahui bahwa pt travelicious indonesia memiliki jumlah pembelian dari website yang masih sedikit. agar dapat bersaing, pt travelicious harus meningkatkan kualitas website dan masih perlu memperbaiki dan meningkatkan persepsi kualitas produk/jasa yang ditawarkan agar tercipta brand image yang baik di mata pelanggan dan pada akhirnya dapat berdampak pada peningkatan niat beli konsumen. oleh karena itu, penelitian dilakukan terhadap website pt travelicious indonesia, yaitu (www.travelicious.co.id). diharapkan, penelitian ini dapat membantu meningkatkan niat pembelian konsumen pada website pt travelicious indonesia. 10 journal the winners, vol. 15 no. 1, maret 2014: 8-14 kerangka teori menurut rocha (2012) ada 3 dimensi utama dalam website quality. pertama, content quality, adalah dimensi utama dari kualitas website yang berfokus pada kualitas konten. kedua, service quality, berkaitan dengan bagaimana kualitas dari layanan yang ditawarkan pada suatu website. ketiga, technical quality, berfokus pada kualitas teknis dalam suatu website, seperti standard software yang digunakan, termasuk navigation map, path, search engine, download time of pages, browser compatibility, broken link, dan accessibility. kemudian, perceived quality menurut keller (2013) dapat didefinisikan sebagai persepsi pelanggan terhadap kualitas keseluruhan atau keunggulan dari suatu produk atau jasa dibandingkan dengan yang lain. dalam durianto, sugiarto, dan budiman (2004), persepsi kualitas dapat dijabarkan dalam tujuh dimensi. dimensi pertama adalah performance (kinerja), yaitu karakteristik pokok dari produk inti yang merupakan aspek fungsional dari suatu produk. misalnya, karakteristik operasional mobil adalah kecepatan, akselerasi, sistem kemudi, serta kenyamanan. kedua, dimensi servicability (kemudahan pelayanan) mencerminkan kemampuan pelayanan yang dapat diberikan atas suatu produk, misalnya menyediakan service 24 hours di seluruh kota. dimensi ketiga, durability (daya tahan), mencerminkan umur ekonomis dari suatu produk. misalnya, produk mobil merek tertentu yang biasa dikenal sebagai mobil tahan lama. keempat, dimensi reliability (keandalan), dapat dikatakan sebagai karakteristik yang mencerminkan kemungkinan tingkat keberhasilan dalam penggunaan suatu produk. pada dimensi kelima, features (fitur), memuat manfaat-manfaat tambahan, seperti penambahan fitur dari suatu produk. penambahan menunjukan bahwa perusahaan memahami kebutuhan pelanggannya yang dinamis. dimensi keenam, conformance with specifications (kesesuaian dengan spesifikasi), bisa diartikan sebagai kesesuaian produk terhadap spesifikasi yang telah ditetapkan sesuai dengan keinginan konsumen. ketujuh, dimensi fit and fitness mengarah pada kualitas yang dapat dirasakan oleh konsumen, yang melibatkan enam dimensi sebelumnya. jika perusahaan tidak dapat menghasilkan produk (hasil akhir) yang baik, kemungkinan produk tersebut tidak akan mempunyai atribut kualitas lain yang penting. ranjbarian, sanayei, kaboli, dan hadadian (2012) mengatakan bahwa, brand image (citra merek) adalah modal intangible yang berharga dan sulit untuk ditiru dan dapat membantu organisasi untuk mencapai tujuan/kinerja yang berkelanjutan dan unggul. menurut keller (2008), ada faktorfaktor yang mendukung terbentuknya brand image dalam keterkaitannya dengan asosiasi merek. faktor pertama adalah strength of brand associations (kekuatan asosiasi merek), makin orang berpikir tentang informasi dari suatu produk dan hubungannya dengan pengetahuan yang dimiliki oleh konsumen atas suatu brand yang sudah ada, menunjukkan bahwa brand tersebut merupakan brand yang sudah kuat. faktor kedua, favorability of brand associations (keunggulan asosiasi merek); pemasar menciptakan asosiasi merek yang menguntungkan dengan meyakinkan konsumen bahwa merek perusahaan memiliki atribut yang relevan dan memberikan manfaat yang dapat memuaskan kebutuhan dan keinginan konsumen, sehingga konsumen dapat secara otomatis membentuk penilaian merek yang positif secara keseluruhan. faktor ketiga, uniqueness of brand associations (keunikan asosiasi merek), berkaitan dengan suatu merek yang memiliki proporsi penjualan yang berkelanjutan dan memiliki keunggulan kompetitif ataupun nilai unik yang dapat dirasakan oleh konsumen. menurut wang dan tsai (2014), purchase intention (niat beli) dapat didefinisikan sebagai suatu kemungkinan bahwa seorang pelanggan akan membeli produk tertentu. makin besar niat, berarti probability untuk membeli suatu produk akan lebih tinggi meskipun belum tentu pelanggan benarbenar membelinya. sedangkan menurut andriyanto dan haryanto (2010), intention atau niat dapat didefinisikan sebagai suatu kemungkinan yang bersifat objektif dari suatu individu dalam berprilaku. dikatakan bahwa purchase intention terbagi menjadi tiga yaitu, intensi sebagai harapan, intensi sebagai rencana, dan intensi sebagai keinginan. meningkatkan niat pembelian..... (hamdan) 11 hubungan antara website quality dengan perceived quality; leonidio, montezano, dan carvalho (2011) menuliskan bahwa dalam konteks online shop, stimulus yang diperlukan adalah suasana pada situs web. suasana tersebut dapat memengaruhi persepsi kualitas yang akan diciptakan dalam diri masing-masing konsumen. jika kualitas situs web yang disediakan buruk, hal ini akan berpengaruh pada persepsi kualitas atas produk atau jasa yang disediakan. hubungan antara website quality dengan brand image; muller, flores, agrebi, dan chandon (2008) mengatakan bahwa kualitas website dapat memberikan efek pada brand image. seperti dikatakan juga, website yang memiliki kualitas yang baik dengan desain web yang cukup akan membawa kepuasan dan pengalaman online yang bernilai. hal ini merupakan kunci penting untuk menciptakan kesan / brand image yang baik. hubungan antara perceived quality dengan brand image; dari hasil penelitian yang dilakukan ranjbarian, sanayei, kaboli, dan hadadian (2012), diketahui bahwa persepsi kualitas memiliki efek yang positif terhadap brand image. lebih lanjut dikatakan dalam penelitiannya bahwa ketika perusahaan menyediakan kualitas yang tinggi (high quality) atas produk atau jasa, secara otomatis akan meningkatkan brand image perusahaan. hubungan antara brand image dengan purchase intention; dalam wang dan tsai (2014), brand image sering digunakan sebagai rangsangan dari luar yang digunakan ketika konsumen melakukan evaluasi produk sebelum membeli. sebagai contohnya, brand image yang baik dari suatu perusahaan, baik dalam hal kualitas layanan maupun produk yang dihasilkan, menjadi sangat penting. hal tersebut dapat meningkatkan intensi atau niat beli para konsumen. hubungan antara variabel website quality dengan purchase intention telah dibuktikan dalam penelitian yang dilakukan oleh pelet dan papadopoulou (2012). dikatakan, kualitas website yang baik, misalnya dalam hal penggunaan warna, sistem navigasi dan sekuritas yang baik dapat menciptakan nilai lebih yang pada akhirnya berpengaruh pada keputusan pembelian konsumen. salah satu hal yang paling mencolok dan perlu diperhatikan adalah user-interface dari website yang disediakan. userinterface dari suatu website merupakan touch-point yang dapat menjadi faktor penentu dalam mengaktifkan niat beli konsumen. hubungan antara perceived quality dengan purchase intention; dalam penelitian ar (2012), dikatakan bahwa purchase intention dipengaruhi oleh pandangan atau persepsi kualitas yang diterima oleh konsumen dari berbagai proses evaluasi. dikatakan pula, apabila persepsi kualitas yang dimiliki konsumen makin tinggi atas suatu produk/jasa, hal ini dapat mengembangkan kesan nilai yang lebih dan pada akhirnya berdampak pada penguatan niat beli konsumen. berdasarkan hubungan antara website quality, perceived quality, brand image, dan purchase intention, maka kerangka pemikiran dalam penelitian ini adalah seperti pada gambar 1. gambar 1 kerangka penelitian purchase intention (z) website quality (x1) perceived quality (x2) brand image (y) 12 journal the winners, vol. 15 no. 1, maret 2014: 8-14 metode penelitian ini menggunakan metode penelitian asosiatif. penelitian asosiatif merupakan metode yang digunakan untuk mencari hubungan dan pengaruh dari suatu variabel dengan variabel lainnya. pengumpulan data dilakukan dengan pengumpulan kuesioner. unit analisis dari penelitian ini adalah individu (konsumen) yang pernah mengunjungi website pt travelicious indonesia namun belum pernah melakukan pembelian sama sekali. sedangkan jenis penelitian yang digunakan berdasarkan waktu dalam penelitian ini adalah cross sectional. sementara untuk metode analisis data yang digunakan adalah path analysis. hasil dan pembahasan dari hasil penelitian, dapat diketahui bahwa ha1, website quality memiliki pengaruh yang signifikan terhadap brand image sebesar 49% dengan sifat pengaruh yang sangat kuat. untuk ha2, perceived quality memiliki pengaruh yang signifikan terhadap brand image sebesar 5,7% dengan sifat pengaruh sedang. sedangkan untuk h3, website quality dan perceived quality secara simultan memiliki pengaruh yang signifikan terhadap brand image sebesar 73,7% dan sisanya sebesar 26,3% merupakan pengaruh dari variabel lainnya yang berasal dari luar penelitian ini. dengan demikian dapat diketahui bahwa website quality dan perceived quality berpengaruh terhadap brand image baik secara individu maupun simultan. untuk h4, website quality memiliki pengaruh yang signifikan terhadap purchase intention sebesar 8,01% dengan sifat pengaruh sedang. sedangkan h5 menunjukan bahwa perceived quality memiliki pengaruh yang signifikan terhadap purchase intention sebesar 4,33% dengan sifat pengaruh sedang. untuk h6, brand image memiliki pengaruh yang signifikan purchase intention sebesar 8,24% dengan sifat pengaruh sedang juga. untuk h7, secara simultan website quality, perceived quality, dan brand image memiliki pengaruh signifikan terhadap purchase intention sebesar 48,4% dan sisanya sebesar 51,6% merupakan pengaruh yang datang dari faktor-faktor lain di luar penelitian ini. gambar 2 hasil analisis hubungan dan pengaruh website quality, perceived quality, brand image, dan purchase intention simpulan berdasarkan hasil analisis, maka simpulan yang dapat diambil dari penelitian ini bahwa variabel website quality dan perceived quality memiliki pengaruh yang positif dan signifikan terhadap brand image baik secara individu maupun simultan. diketahui pula bahwa website quality, perceived quality, dan brand image berpengaruh positif dan signifikan terhadap purchase intention baik secara 0,7183 0,283 0,5128 0,568 0,700 0,240 0,287 0,208 x1 x2 y z meningkatkan niat pembelian..... (hamdan) 13 individu maupun simultan. saran yang dapat diberikan kepada pt travelicious indonesia adalah sebaiknya website quality harus menjadi perhatian utama perusahaan karena memiliki pengaruh yang besar pada peningkatan niat beli konsumen. contohnya seperti membuat desain web lebih menarik, menciptakan sistem pelayanan pelanggan yang lebih baik, dan tingkat keakuratan informasi. selain itu, perusahaan juga harus memerhatikan perceived quality karena memiliki pengaruh yang signifikan terhadap brand image dan purchase intention. salah satu hal yang dapat dilakukan adalah perusahaan harus mulai menyediakan deal produk/jasa yang berkualitas dari merek-merek yang terkenal. brand image memiliki pengaruh yang paling besar terhadap peningkatan niat beli konsumen. oleh karena itu, perusahaan harus mulai mengembangkan dan memerhatikan pembangunan brand image yang baik pada perusahaan seperti menciptakan pelayanan atau menawarkan produk yang unik dan menarik sehingga dapat memberikan kesan nilai tertentu pada konsumen yang pada akhirnya berdampak pada peningkatan niat beli konsumen. daftar pustaka andriyanto, r. d. & haryanto, j. o. (2010). analisis pengaruh internet marketing terhadap pembentukan word of mouth dan brand awareness untuk memunculkan intention to buy. jurnal manajemen teknologi, 9(1), 20–34. ar, a. a. (2012). effect of perceived values on the brand preference and the purchase intention. european scientific journal , 8(17), 1–17. durianto, d., sugiarto, & budiman, l. j. (2004). brand equity ten : strategi memimpin pasar. jakarta: gramedia pustaka utama. keller, k. l. (2008). strategic brand management : building, measuring, and managing brand equity (3rd edition). new jersey: pearson education. keller, k. l. (2013). strategic brand management: building, measuring, and managing brand equity (4th ed.). england: edinburgh gate. leonidio, u. d., montezano, r. m., & carvalho, f. a. (2011). evaluation of perceived quality of the website of an online bookstore: an empirical application of the barnes and vidgen model. journal of information systems and technology management , 8(1), 109-130. muller, b., flores, l., agrebi, m., & chandon, j. l. (2008). the branding impact of brand websites: do newsletters and consumer magazines have a moderating role. journal of advertising research, 48(3), 465–472. nugraha, b. (2011, 5 maret). dealkeren beri kemudahan berpromosi dan berbelanja. diakses 18 oktober 2013 dari http://suaramerdeka.com/v1/index.php/read/news/2011/03/05/79472/dealkeren-berikemudahan-berpromosi-dan-berbelanja pangerapan, s. a. (2013, 8 maret). pengguna internet di indonesia capai 63 juta orang. diakses 17 oktober 2013 dari http://www.penulisartikelbagus.com/pengguna-internet-di-indonesiacapai-63-juta-orang/ 14 journal the winners, vol. 15 no. 1, maret 2014: 8-14 pelet, j. e. & papadopoulou, p. (2012). the effect of colors of e-commerce websites on consumer mood, memorization and buying intention. european journal of information systems, 21, 438–467. ranjbarian, b., sanayei, a., kaboli, m. r., & hadadian, a. (2012). an analysis of brand image, perceived quality, customer satisfaction and repurchase intention in iranian department stores. international journal of business and management , 7(6), 40–48. rocha, a. (2012). framework for a global quality evaluation of a website. online information review, 36(3), 374–382. wang, y. h., & tsai, c. f. (2014). the relationship between brand image and purchase intention: evidence from award winning mutual funds. the international journal of business and finance research , 8(2), 27–40. accounting, business, management, and information system volume 3, nomor 2, september 2002 issn: 1412 1212 subbiro publikasi ilmiah bidang ekonomi universitas bina nusantara pelindung dr. th. widia soerjaningsih once kurniawan, s.kom., m.m. ir. bahtiar s. abbas, m.sc., ph.d. redaktur utama prof. dr. gerardus polla, m.app.sc. dewan redaksi parulian sihotang, ak., m.acc., ph.d. ir. harjanto prabowo, m.m. e.a. kuncoro, s.e., m.m. mitra bestari dr. hekinus manao, m.acc., c.g.f.m. (universitas indonesia) dr. sudarwan, m.b.a., q.i.a. (universitas trisakti) dr. ir. roy sembel, m.b.a. (program pascasarjana universitas bina nusantara) edi timbul hardiyanto, s.e., ak., m.sc., m.b.a., b.a.p (institut pendidikan internal auditor indonesia) editor dra. endang ernawati, m.lib. ade alfiah, s.s. titik rahayu s., s.s. sekretariat hery h.m., s.kom. tri septi wulansari alamat sekretariat subbiro publikasi ilmiah bidang ekonomi, biro penelitian dan publikasi, universitas bina nusantara kampus syahdan, jl. k.h. syahdan no. 9, kemanggisan palmerah, jakarta barat 11480 telp. (021) 5345830, 5350660 ext. 2206 fax. (021) 5300244 e-mail: heryhm@binus.ac.id issn 1412-1212 accounting, business, management, and information system volume 3, nomor 2, september 2002 issn: 1412 1212 daftar isi kata pengantar................................................................................................................... v kadiman pakpahan aspek kemiskinan dalam pembangunan pedesaan (poverty aspect in village development)...................................................................... 105-111 s. liawatimena; m.f. amanda; handoko; hendry evaluasi customer relationship management pada supermarket hero di jakarta timur (customer relationship management evaluation on hero supermarket, east jakarta)................................................................................................................... 112-133 kusbiantono hubungan risiko perusahaan dan risiko pasar serta pengaruhnya pada tingkat diversifikasi portofolio saham (the connection between company and market risks and their effect on stock portfolio diversification level)...................................................................................... 134-149 karyono fraud auditing............................................................................................................... 150-160 budiman notoatmojo evaluasi ekonomi mikro: dampak proyek terpadu peternakan dan pertanian pangan di indonesia bagian timur (microeconomics impact: evaluation on livestock and food crop integrated project in east indonesian area)................................................................................................ 161-187 bagus sumargo perkembangan teori sewa tanah dalam perspektif pemikiran ekonomi (development of land rent theory in economics thinking perspective)....................... 188-195 ferry jie; hasan akpolat; deepak sharma; james irish analysis of advantages and disadvantages of current operational risk management models (as/nzs 4360, as/nzs iso 9000, as/nzs iso 14000, as/nzs 4801, as/nzs 3806, as/nzs 4444)............................................................................................. 196-210 indeks journal the winners volume 3 tahun 2002......................................... 211-214 microsoft word 05_perbanas_fangky_rev1.docx   factors affecting the return …… (fangki a. sorongan) 37  factors affecting the return stock company in indonesia stock exchange (idx) lq45 in years 2012-2015 fangki a. sorongan faculty of economics & business, perbanas institute jln. perbanas, karet kuningan, setiabudi. jakarta selatan f.sorongan@perbanas.id abstract this research aimed to determine the effect of partially and jointly independent variable of debt to equity ratio (der), return on equity (roa), return on equity (roe), and net profit margin (npm) against the dependent variable on the stock return. objects of this research were companies listed on the indonesia stock exchange (bei) lq45 continuously for four years in the period 2012-2015. companies that qualify for this research were 28 companies. based on this research, the conclusions indicate that all four independent variables; debt to equity ratio (der), return on equity (roa), return on equity (roe), and net profit margin (npm), either jointly or partially give the significant effect on return stock. keywords: debt to equity ratio (der), return on equity (roa), return on equity (roe), netprofit margin (npm) introduction in early 2016, several industrial sectors show an encouraging increase in growth despite the relatively slow growth rate. in the midst of the current economic slowdown and many issuers decline, market participants are still optimistic about the possibility of improving the performance of listed companies in the future. that is what pushed investor interest as capital market players to collect some issuers indonesia listing on the stock exchange (bei) especially are always included in lq45. investors who invest must make the choice of all instruments existing investments to avoid regret. according to bodie et al., (2009), it can be regarded as an investment destination of choice (trade-off) between return and risk. it will provide a high risk high return and low risk, otherwise, the returns that generated would be too low. one of the financial instruments is the capital market. understanding the stock market according to the capital market law no. 8, 1995, it is an activity concerned with the public offering and trading of securities, public companies relating to securities issuance, as well as institutions and professions related to the effect. the capital market is a market peddle copies of financial instruments (husnan, 2004). in the capital market investment decision, investors need consideration and calculation so that the funds invested is guaranteed to produce profits. investors are hoping for a return of the shares purchased. the rate of return is a major factor because the return is the result obtained from an investment (jogiyanto, 2000). the investors in deciding to buy the stock can use technical analysis to look at a chart or technical indicators such as trading volume or share price. while fundamental analysis that investors can carry out a review, and assessment to measure the performance of companies based on financial ratios. the use of financial ratios in determining the investment policy has been widely used. to analyze the stock returns are fundamental ratio measured by debt to equity ratio (der), return on assets (roa), return on equity (roe), and the net profit margin (npm).   38 journal the winners, vol. 17 no. 1, march 2016: 37-45  research related to stock returns has been done. natarsyah (2002) has stated that the research results in roa and der have significant positive effect on stock returns. manurung (2006) has stated that der has the positive effect on stock returns. while suharli (2005) has stated that the der has no significant effect on stock returns. susanto (2010) has stated that based on the results of his research stating that roe has the positive effect on stock returns, but der have no effect on stock returns. juwita (2013) has stated that based on the results of the study, roe has the positive effect on stock returns. desy (2012) has stated that der has a significant negative effect on stock returns. while heryawan (2013) and astuti (2013) have declared that the npm and roa have the significant effect on stock returns. and lastly, yuliaty (2008) has states that the net profit margin (npm) does not have significant effects on stock returns. therefore, this article tries to determine the influence of debt to equity ratio (der), return on assets (roa), return on equity (roe), and the net profit margin (npm) on stock returns. according to brigham and joel (2006), return equity is the difference between the amount received and the amount invested, and it is divided by amount invested. the results return that obtained from the investment can be the return realization that has already happened or the expectation return that has not happened yet, but it is expected to happen in the future (jogiyanto, 2000). husnan (2004) also has stated that the stock return is the result obtained from an investment. the results of the stock return are either profit or loss. business investment in shares of an investor is always faced with the risk of unforeseen risks. debt to equity ratio (der) is a ratio that compares the debt and equity (husnan, 2004). in the financial management of the company, its goal is to increase the real debt financial performance. firms will have difficulty doing business expansion if only rely on the capital only because it is needed debt. but keep in mind also if the company has a debt that exceeds the risk of capital, the liquidity becomes higher. this ratio is often used by analysts and investors to see how much debt the company when compared to equity held by the company or its shareholders. as the investors, we must also be careful in seeing this der, because if the total debt is greater than the equity, then we need to look further if the current liability or long-term debt is greater. the level of risk the company can be demonstrated by looking at the ratio of der. when the der is lower, then automatically the risk level is also lower and vice versa. the formulation of der can be seen below: (1) return on assets (roa) is a ratio to measure the effectiveness of management in generating profits with the assets available (gitman & zutter, 2015). the greater the total assets of the company, the better. return on assets (roa) is positive if the total assets used for the company’s operating profits can provide. and conversely, the negative roa shows the total assets used do not give profit/loss. the formulation of roa can be seen below: 100% (2) return on equity (roe) is the ratio to measure the return earned on shareholders' investment in the company (gitman & zutter, 2015). roe is very dependent on the size of a company, for example, for the small companies would have less capital, thus it will give the result of smaller roe and vice versa for the large companies. this ratio is often also used to compare two or more companies on good investment opportunities and effective cost management. the formulation of roe can be seen below: 100% 3   factors affecting the return …… (fangki a. sorongan) 39  net profit margin (npm) is a ratio used to measure how much profit earned (husnan, 2004). net income is divided by net income as a percentage. the higher net profit margin would be more effective. so the higher of its net profit, the company will be more effective and healthier. but on the contrary, if the net profit generated by small companies, so the net profit is even smaller that companies can be a loss. so the company will usually compare the net profit margin in several years in a row to analyze whether the revenue is up or down load. otherwise, if the number decreases, we can analyze the revenues are declining or rising and what is the causing of reduced profits. the formulation of npm can be seen below: 100% (4) framework of the relationship between variables debt to equity ratio (der), return on assets (roa), return on equity (roe), and the net profit margin (npm) of the stock return can be seen in following figure. figure research model based on the above conceptual framework (figure), the research hypothesis can be formulated as follows: h1= der, roa, roe, and npm jointly effect on stock returns include in lq45 that listed on the indonesia stock exchange (bei) for the consecutive four-year period from 2012 to 2015. h2= der, roa, roe, and npm partial effect on the stock return of lq45 companies in the indonesia stock exchange (bei) for consecutive four-year period 2012-2015. methods the populations in this article are the companies that included in lq45 consecutively for 4 years in the indonesian stock exchange, year period 2012-2015. the data in this article comes from secondary data that derived from the company's financial statements lq 45 that published in the jakarta stock exchange in particular from indonesian capital market. data analysis methods applied are the multiple linear analysis with the first in the classical assumption test. the regression equation is as follows: y = β0 + β1x1 + β2x2 + β3x3 + β4x4 + e (5) der (x1) roa (x2) roe (x3) npm (x4) stock returns (y)   40 journal the winners, vol. 17 no. 1, march 2016: 37-45  y = stock returns x1 = der x2 = roa x3 = roe x4 = npm β0 = intercept orconstants e = error β1 β2 β3β4 = regression coefficient of each variable der, roa, roe, npm results and discussions data obtained from bei (www.idx.co.id) are respectively included in lq45 for 4 years ie from 2012 to 2015 as many as 28 companies with 112 samples. table 1 descriptive statistics source: processed data (spss statistics 19) according to table 1, it can be seen that the average return of shares amounting to 3,3345 with a standard deviation of 30,73725, and the lowestis -76,24 and the highest reaches 90,84. table 1 shows that during the period 2012-2015, the average value of der is at 1,6437 with the lowest is 0,16 and the highest is 7,52. the average value of roa amounted to 10,9449 with the lowest is 1,69 and the highest reaches 71,51. the average value of roe is equal to 21,6820 with the minimum one is 2,25 and the maximumis 125,81. the average value of npm is equal to 19,2265 with the minimum oneis 2,76 and the maximum is 71,73. before performing the regression model, a series of classic assumption aberration test needs to be done (ghozali, 2013). aberration test classic assumptions areused to determine whether there is multicollinearity, autocorrelation, and heteroscedasticity in the regression model to see if it has a perfect or near perfect linear relationshipwith a high correlation coefficient, or even close to 1. the tests to see the value of tolerance must be greater than 0,10 and the value of inflation factor (vif) is smaller than 10 (priyatno, 2008). tabel 2 test multicollinearity a. dependent variable: returnshm source: processed data (spss statistics 19) n minimum maximum mean std deviation returnshm der roa roe npm 112 112 112 112 112 -76,24 0,16 1,69 2,25 2,76 90,84 7,52 71,51 125,81 71,73 3,3345 1,6437 10,9449 21,6820 19,2265 30,73725 2,13622 9,72313 21,06353 12,27412 model collinearity statistics tolerance vif (constant) der roa roe npm 0,351 0,128 0,146 0,696 2,849 7,803 6,854 1,437   factors affecting the return …… (fangki a. sorongan) 41  according to table 2, it is found that the four variables of tolerance value are more than 0,10 and vif is less than 10. it is concluded that there is no multicollinearity between independent variables. a good regression model should not happen autocorrelation by looking at the durbinwatson value ranging from 1,55 to 2,46 (priyatno, 2008). table 3 test autocorrelation a. predictors: (constat). npm. roa. der. rpe b. dependent variable: returnshm source: processed data (spss statistics 19) based on table 3, it can be seen that the durbin-watson value is 1,676, and it is concluded that there is no trouble autocorrelation. to be able to use techniques heteroscedasticity oftest spearman's rho correlation coefficient by using a significance level is 0,05, priyatno (2008). table 4 test heteroscedasticity unstandardized residual der roa roe npm spearman’s rho unstandardized residual correlation coeficient sig. (2-tailed) n 1,000 112 0,58 0,541 112 0,066 0,489 112 0,101 0,288 112 -0,006 0,950 112 der correlation coeficient sig. (2-tailed) n 0,058 0,541 112 1,000 112 0,547 0,000 112 0,005 0,955 112 0,211 0,025 112 roa correlation coeficient sig. (2-tailed) n 0,066 0,489 112 0,547 0,000 112 1,000 112 0,682 0,000 112 0,106 0,265 112 roe correlation coeficient sig. (2-tailed) n 0,101 0,288 112 0,005 0,955 112 0,682 0,000 112 1,000 112 0,527 0,000 112 npm correlation coeficient sig. (2-tailed) n -,006 0,950 112 ,211 0,025 112 ,106 0,265 112 ,527 0,000 112 1,000 112 **. correlation is significant at the 0,01 level (2-tailed). *. correlation is significant at the 0,05 level (2-tailed). source: processed data (spss statistics 19) based on the results of table 4, the four independent variables generate significant value of more than 0,05 therefore there is no problem with heteroscedasticity. testing multiple linear regression is useful to know the effect of variable rate debt to equity ratio, return on assets, return on equity, and net profit margin on stock returns. model r r square adjusted r square std. error of the estimate durbin watson 1 0,304 0,093 0,059 29,82065 1,676   42 journal the winners, vol. 17 no. 1, march 2016: 37-45  tabel 5 results summary model unstandardized coefficients standardized coefficients t sig collinearity statistics b std. error beta tolerance vif {constant} der roa roe npm -14,551 1,142 0,420 0,054 0,533 6,480 2,237 0,813 0,352 0,276 0,079 0,133 0,037 0,213 -2,246 5,110 5,517 3,152 2,929 0,027 0,011 0,007 0,019 0,006 0,351 0,128 0,146 0,696 2,849 7,803 6,854 1,437 a. dependent variable: returnshm source: processed data (spss statistics 19) from the output results in table 5, it can be formulated the equation multiple regression model as follows: y = -14,551 + 1,142x1 + 0,420x2 + 0,054x3 + 0,533x4 + e (6) y = stock returns x1 = der x2 = roa x3 = roe x4 = npm based on the regression equation above, it can be interpreted that the constant value is -14,551 which means that if the variable der, roa, roe, and npm do not exist, then there is a change in the shares amounted to -14,551. der coefficient (x1) of 1,142 gives the positive effect on stock returns (y), which means that if the variable der increases, it will affect the stock return of 1,142%. roa coefficient (x2) of 0,420 gives the positive effect on the stock returns (y), which means that if the variable roa increases will affect the stock return of 0,420%. roe coefficient (x3) of 0,054 has the positive effect on stock returns (y), which means that if the roe increases, it will affect stock returns of 0,054%. npm coefficient (x4) of 0,533 has the positive effect on stock returns (y), which means that if the variable increases, the npm will affect the stock return of 0,533%. hypothesis testing is done to see how far the simultaneous effect with the same dependent variables affect the dependent variable with test f and test tto determine the effect of the independent variables to partially dependent variable. testing t test is used to determine whether partially independent variables der, roa, roe, and npm affect stock returns. tests using a significance level is 0,05. based on table 5, it can be seen that for the variable der t count equal to 5,110 while t table is 2,273 and a significance level is 0,011. because the value of t count is higher than t table (5,110 > 2,273) and the level of significance is 0,001 < 0,05, it can be concluded that the variable der partially has the significant effect on stock returns. the results of this article are reinforced by research natarsyah (2002) and manurung (2006) which have stated that the variable der has significant positive effect on stock returns, and it is contradicted with the research of suharli (2005) which has stated that the der has no significant effect on stock returns. based on table 5, it can be seen that for roa t count equal to 5,517 while t table is 2,273 and the significance level is 0,007. because the value of t count is higher than t table (5,517 > 2,273) and the level of significance is 0,007 < 0,05, it can be concluded that the roa variable partially has the significant effect on stock returns. the results of this study are reinforced by research of natarsyah   factors affecting the return …… (fangki a. sorongan) 43  (2002), astuti (2013), and heryawan (2013) that have stated that the roa has significant positive effect on stock returns. then, based on table 5, it can be seen that for roe t count equal to 3,152 while t table is 2,273 and the significance level is 0,019. because the value of t count is higher than t table (3,152 > 2,273) and the level of significance is 0,019 < 0,05, it can be concluded that the roe partially has significant effect on stock returns. the results of this study are reinforced by research of susanto (2010) and juwita (2013) which have stated that the roe has significant positive effect on stock returns. based on table 5, it can be seen that for npm variable t count equal to 2,929 while t table is 2,273 and a significance level is 0,006. because the value of t count is higher than t table (2,929 > 2,273) and the level of significance is 0,006 < 0,05, it can be concluded that the npm variable partially has the significant effect on stock returns. the results of this study are reinforced by the research of heryawan (2013) and astuti (2013), which have stated that the npm significant positive effect on stock returns. however, this study is not consistent with research yuliaty (2008) which has stated that the net profit margin (npm) does not significantly affect stock returns. analysis of variance (anova) is used for testing the f test how significant influence of independent variables (der, roa, roe, npm) altogether may affect stock returns. tests using a significant level of 0,05. it can be seen in table 6. table 6 f test (anova) model sum of squares df mean square f sig regression residual total 9718,375 95152,012 104870,388 4 107 111 2429,594 889,271 2,732 0,033a a. predictors: (constant), npm,roa, der, roe b. dependent variable: returnshm source: processed data (spss statistics 19) in testing the f test, it can be tested by looking at the value of f count > f table and a significant level are < 0,05. based on table 6 that obtained f count equal to 2,732 > 2,457 with significantly is 0,033 < 0,05. so it can be concluded and proved that the independent variable der, roa, roe, and npm altogether significantly have the affect on stock returns that included in lq45 in the indonesia stock exchange respectively for the period 2012-2015. conclusions based on the analysis and data as well as testing and discussion, this study results in several conclusions. the results are the t-test can be concluded that the independent variable of debt to equity ratio (der), return on equity (roa), return on equity (roe) and net profit margin (npm) partially prove significant effect on stock returns of companies included in lq45 row participated during the four-year period from 2012 to 2015. also, based on the test results f can be concluded that the independent variable of debt to equity ratio (der), return on equity (roa), return on equity (roe), and net profit margin (npm) jointly give significant effect on stock returns are lq45 entry in a row during the 4-year period from 2012 to 2015.   44 journal the winners, vol. 17 no. 1, march 2016: 37-45  based on the research results and conclusions, it is suggested that there are many more variables that can be examined using the ratio of financial report that could affect stock returns in addition to the variable of debt to equity ratio (der), return on equity (roa), return on equity (roe), and net profit margin (npm). another ratio includes variable eva, capm, eps, per. for investors before deciding to buy shares should be supported by fundamental analysis by examining the performance of the company. in order to obtain the maximum return should also be considered factors such as debt to equity ratio (der), return on equity (roa), return on equity (roe), and net profit margin (npm). references astuti, f. (2013). analisis pengaruh kinerja keuangan terhadap return saham pada perusahaan manufaktur yang terdaftar di bursa efek indonesia. surakarta: universitas muhammadiyah. bodie, k., & marcus, j. a. (2009). investment. 8th ed. mcgraw-hill. brigham, e. f., & joel, f. h. (2006). dasar-dasar manajemen keuangan (10th ed). jakarta: pt salemba empat. desy, a. (2012). analisis faktor – faktor yang mempengaruhi return saham (kasus pada perusahaan manufaktur yang go public di bei periode tahun 2005-2009. jurnal ilmu manajemen dan akuntansi terapan, 3(1), 1-15. ghozali, i. (2013). aplikasi analisis multivariat dengan program ibm spss 21. 7th ed.semarang: universitas diponegoro. gitman, l. j., & zutter, c. j. (2015). principles of managerial finance (14th ed). new jersey: pearson. heryawan, h. (2013). analisis pengaruh earning per share (eps), net profit margin (npm), dan return on asset (roa), terhadap return saham perusahaan sektor asuransi di bursa efek indonesia. jakarta: uin. husnan, s. (2004). manajemen keuangan teori dan penerapan (keputusan jangka pendek). yogyakarta: bpfe. jogiyanto. (2000). teori portofolio dan analisis investasi (2nd ed). yogyakarta: bpfe. juwita, c. (2013). pengaruh variabel roa, roe, der, eps dan per terhadap return saham perusahaan non bank lq45 periode 2010-2012. unpublished master's thesis. malang: universitas brawijaya. manurung, a. (2006). kinerja saham perbankan: penelitian empiris di bej periode 19982003. finance and banking journal, 8(1). natarsyah, s. (2002). analisis pengaruh beberapa faktor fundamental dan resiko sistematik terhadap harga saham kasus industri barang konsumsi yang go-publik di pasar modal indonesia. bunga rampai kajian teori keuangan. yogyakarta: bpfe. priyatno, d. (2008). belajar olah data dengan spss 17. yogyakarta: andi offset.   factors affecting the return …… (fangki a. sorongan) 45  republik indonesia. (1995). undang-undang republik indonesia nomor 8 tahun 1995 tentang pasar modal. sekretariat negara. jakarta. suharli, m. (2005). studi empiris terhadap dua faktor yang mempengaruhi return saham pada industri food & beverages di bursa efek jakarta. jurnal akuntansi dan keuangan, 7(2), 99116. susanto. (2010). tesis; analisis faktor-faktor yang mempengaruhi return saham industri perbankan di bei. master's thesis. batam: universitas terbuka. yuliaty, e. (2008). pengaruh per, pbv, npm, gpm, dan der terhadap return saham periode pengamatan 2001-2005. jurnal ekonomi dan bisnis, 13(2), 54-59. microsoft word 05_trisakti_effect of cash dividend-a2t.docx   36 journal the winners, vol. 16 no. 1, march 2015: 36-43  the effect of cash dividend, retained earnings, and stock price of manufacturing company listed in indonesia stock exchange farah margaretha1; firzitya2 1, 2 management science program, faculty of economics, trisakti university jln. kyai tapa no.1, grogol, jakarta 11440 1farahmargaretha@yahoo.com; farahmargaretha@gmail.com abstract this study aims to determine the effect of cash dividends per share, retained earnings per share, earnings per share, and leverage on the stock price of manufacture industry in indonesia from 2008-2012. research used secondary data in which the source was obtained indirectly through an intermediary medium or data processed from literatures and reports associated with this research. independent variables in this study (x) are cash dividends per share, retained earnings per share, earnings per share, and leverage, while the dependent variable (y) is stock price. the samples used were 23 companies with purposive sampling method. the empirical results of this study indicate that cash dividends per share, retained earnings per share, earnings per share, and leverage has significant effect on the stock price. it is therefore the higher stock price will attract investors to invest their money. hence, companies and investors need to attend cash dividends per share, retained earnings per share, earnings per share, and leverage as factors that affect the increase or decrease of the stock price. keywords: cash dividends per share, earnings per share, leverage, retained earnings per share, stock price abstrak penelitian ini bertujuan untuk mengetahui pengaruh cash dividends per share, retained earnings per share, earnings per share, dan leverage terhadap stock price pada perusahaan manufaktur di indonesia periode 2008-2012. data yang digunakan adalah data sekunder yang merupakan sumber data penelitian yang diperoleh secara tidak langsung melalui media perantara (diperoleh dan dicatat oleh pihak lain) atau data yang sudah diolah sebagai data dari literatur dan laporan yang terkait dengan penelitian. variabel independen (x) yang diteliti adalah cash dividends per share, retained earnings per share, earnings per share, dan leverage, sedangkan variabel dependen (y) adalah stock price. jumlah sampel yang digunakan adalah 23 perusahaan dengan metode purposive sampling. hasil empiris dari penelitian ini menunjukkan bahwa cash dividends per share, retained earnings per share, earnings per share, dan leverage memiliki pengaruh signifikan terhadap harga saham. harga saham yang tinggi akan menarik investor untuk menginvestasikan dananya. oleh karena itu, perusahaan dan investor perlu memerhatikan cash dividends per share, retained earnings per share, earnings per share, dan leverage sebagai beberapa faktor yang berpengaruh pada kenaikan dan penurunan harga saham. kata kunci: cash dividends per share, earnings per share, leverage, retained earnings per share, stock price   the effect of cash dividend …… (farah margaretha; firzitya) 37  introduction according to ebrahimi and chadegani (2011), “the shareholders is one of the important components of the company, therefore their interests should take precedence”. brigham and houston (2010) stated, “each company has one main purpose, namely, to maximize shareholder wealth. if companies want to maximize shareholder wealth, they must know how to determine the well-being”. the company has several departments therein, namely, marketing, accounting, production, human resources, and finance. the task of the finance department is evaluating the decision proposed by the company and assessing whether the decision will affect the stock prices also affect shareholder wealth. gitman and zutter (2015) stated, “financial management has three important decisions that funding decisions, investment decisions and dividend policy decisions. the funding decision is a decision to determine the mix of funding and types of funding used by the company. while the investment decision is a decision to determine the mix and type of assets owned by the company”. ross, westerfield, and jaffe (2008) stated “the dividend policy of the company is determining the amount of money paid to the shareholders, held for the company to be reinvested in profitable projects, or to be stored for use as needed in the future”. dividend policy decision, which is one of three major decisions of financial management, is a topic that is widely studied by researchers, especially in relation to the share price. this is mainly due to the influence that the potential of the dividend policy for the company's stock price (altroudi & milhem, 2013). when the company decided to go public for the first time, there was no stock market prices until the start of the sale of shares in the secondary market. stock price determination is a fundamental decision about the company. investors generally will get the first information about the company through the ipo. the availability of quality information will help investors determine reasonable security prices (margaretha, 2009). investment in the stock market at least has to pay attention to two things, the expected benefits and possible risks. therefore, the capital owners need to have some information related to the dynamics of stock price in order to take a decision on the company's shares to be eligible to choose (margaretha & isni, 2007). previous researchers found that the stock price might be affected by various financial indicators of finance. the financial indicators used in the study include cash dividends per share, retained earnings per share, earnings per share, and leverage (altroudi & milhem, 2013) . joshi (2012) makes the study of the effect of dividends, retained earnings, and stock prices. results show that cash dividends and retained earnings affected the stock price. according to cai and zhang (2011), “when the company is too reliant on the use of debt, an increase in the leverage ratio, this resulted in an effect on future investments and cash flow expected to be received in the future. they found a negative effect of the change in leverage with the stock price”. this study examines the manufacturing company because the number of companies listed in the indonesian stock exchange (bei) is relatively more than the total listed companies, so the researchers are enable to obtain more data. based on this background, the purpose of this study is to analyze the effect of cash dividends per share, earnings per share, retained earnings per share, and leverage of the stock price. dividend policy has attracted a lot of interest for the company's financial researchers for a long time, especially about the relationship between the dividend policy of the company with the stock price (eg. see alam & uddin, 2009). this is mainly due to the influence of the dividend policy potential for the company's stock price. joshi (2012) found an association between dividends, retained earnings, and stock prices. in his research, he found that there is a relationship between dividends and retained earnings to share price.   38 journal the winners, vol. 16 no. 1, march 2015: 36-43  in addition to retained earnings and dividends, earnings per share and leverage are also found associated with stock prices. seetharaman and raj (2011) found a positive relationship between earnings per share of the stock price. while cai and zhang (2011) conducted a study on changes in leverage, debt curve and stock value. they found the conclusion that a change in leverage will send new information to the market about the price of the shares. previous research has found that the variable cash dividens per share has a positive and significant correlation with the stock price. this is in accordance with al-hasan, asaduzzaman, and karim (2013) who found the effect of dividends per share to retained earnings on the stock price. the results show that cash dividends have a positive influence on the stock price. it is the same with joshi (2012) who made the study between the effects of dividends and retained earnings of the stock price. the results show that the stock price is influenced by both. hence, the first hypothesis: h1: there is the influence of cash dividends per share of the stock price. previous research found that the retained earnings per share has a positive and significant relationship to the stock price. this is consistent with al-hasan et al. (2013) who found a link between retained earnings and stock price. they found a positive relationship between the retained earnings of the stock price. it is equal with joshi (2012) who found a link between the retained earnings of the stock price. hence, the second hypothesis: h2: there is the influence of retained earnings per share of the stock price previous research has found that earnings per share had an effect on the closing price of the price of stock companies. according to gordon (1959) who examined the effect of dividend policy and earnings in the company’s stock price. in addition, it is the same with the results of seetharaman and raj (2011) who found a positive relationship between earnings per share of the stock price. therefore, the third hypothesis: h3: there is influence between earnings per share of the stock price. according to bahreini, baghbani, and bahreini (2013) , "leverage has a negative correlation to the stock price. this implies that if the companies increase leverage, then there will be a decline of the stock price”. the same was found by cai and zhang (2011) that there is a negative correlation between changes in leverage to the stock price. therefore, the fourth hypothesis: h4: there is the influence of leverage on stock price. method this study used secondary data obtained indirectly through an intermediary medium (obtained and recorded by other party) or data processed from literature research and reports associated with this research. these data were obtained from the website www.idx.co.id and indonesian capital market directory (icmd). the data were in the form of financial statements of companies listed in the indonesian stock exchange (bei) for five years from 2008-2012. the dependent variable used in this study is the stock price. this variable is the closing price of the company's shares at the end of which can be seen on the website yahoo finance. independent variables used in this study are: (1) cash dividends per share (dps), this variable can be seen on the   the effect of cash dividend …… (farah margaretha; firzitya) 39  website sahamok; (2) retained earnings per share (rps), retained earnings per share can be calculated using the formula: rps ; (1) (3) earnings per share (eps), variable earnings per share is given in the company's financial statements; (4) financial leverage (lev), financial leverage can be calculated using the formula: lev t d t a . (2) analysis was conducted to see the effect of cash dividends per share, retained earnings per share, earnings per share, and leverage on stock price. in this case, the statistical method used is multiple linear regression model. the regression equation in this study using the dependent variable and independent variables price stock, cash dividends per share, retained earnings per share, earnings per share, and leverage. regression models were used, namely: y = α + β1dpsit +β2rpsit +β3epsit+β4levit+ e ; (3) where: y = stock price, α = constant, β1 = cash dividends per share, β2 = retained earnings per share, β3 = earnings per share, β4 = leverage, e = error. t test or partial test ; tests carried out to test the partial regression coefficient with the significance of the influence of each independent variable on the dependent variable to assume other variables are constant. basis for decision making for the partial test are as follows: (a) if the significance < alpha 0.05 then ho is rejected; (b) if the significance > alpha 0.05 then ho is accepted. results and discussion description of data is a brief overview of company data that is used as the object study in this research. the object of this research is manufacturing companies listed in the indonesia stock exchange (bei) from 2008-2012. the amount of the initial samples that met the criteria purposive sampling is 33 times the company with 5 years of the study period to 165 samples, then after adjustment and outlier data test samples meet the company amounts to 23 times the 5 year study period to 115 samples. here is the field of industrial firms used in this study: table 1 table of samples no. industry quantity percentage (%) 1. chemical products 2 8,69% 2. stone, clay, glass, and concrete products 1 4,35% 3. plastic and glass products 3 13,04%   40 journal the winners, vol. 16 no. 1, march 2015: 36-43  table 1 table of samples (continued) no. industry quantity percentage (%) 4. electronics and office equipment 1 4,35% 5. automotive products 4 17,39% 6. pharmacy 3 13,04% 7. adhesive 1 4,35% 8. food and drink 2 8,69% 9. metal products 2 8,69% 10. product purpose 2 8,69% 11. cement 1 4,35% 12. cable 1 4,35% total 23 100% this section presents descriptive statistics of independent variable and the dependent variable. variables used in this study are stock prices, cash dividends per share, earnings per share, retained earnings per share, and leverage. descriptive statistical analysis shows the minimum and maximum values of each variable. the minimum value is the lowest value for each variable, while the maximum value is the highest value for each variable in the study. the mean value is the average value of each variable studied. standard deviation is a distribution of the data used in the study that the data reflect a heterogeneous or homogeneous nature volatile. here is the descriptive statistics of the variables used. table 2 descriptive statistics variable n minimum maximum mean std.deviation stock price 115 38,75 15700,00 2465,0222 3048,77731 cash dividends per share 115 1,00 865,00 94,5959 143,45710 earnings per share 115 8,24 4393,00 421,2555 739,5548 retained earnings per share 115 0,0000510 2,5780790 0,077915559 0,3754720617 leverage 115 0,0212533 0,7639157 0,400481462 0,1865109861 source: secondary data processed based on the results of data processing in the table above, stock price (sp) gained an average of 2465,0222 and a standard deviation of 3048,77731. while the minimum value of the stock price was 38,75 owned by pt arwana citra mulia tbk. in 2009 a maximum value was 15700 owned by pt semen gresik tbk in 2012. the variable cash dividends per share (dps) obtained an average of 94.5959 and a standard deviation of 143.45710. while the minimum value of cash dividends per share was 1 owned by pt akr tbk in 2009 and a maximum value of 865 owned by pt astra international tbk in 2011. the variable earnings per share (eps) gained an average of 421,2555 and a standard deviation of 739,55485. while the minimum value was 8.24 earnings per share owned by pt ekadharma tbk in 2008 and a maximum value of 4393 owned by pt astra international tbk in 2011. the variable retained earnings per share (rps) gained an average of 0,077915559 and a standard deviation of 0,3754720617. while the minimum value of retained earnings per share was owned by pt ekadharma 0.0000510 tbk in 2008 and a maximum value of 2,5780790 owned by pt semen gresik tbk in 2012. the variable leverage (lev) gained an average of 0,400481462 and a standard deviation of 0,1865109861. while the minimum value of 0,0212533 leverage was owned by pt kalbe farma tbk in 2011 and a maximum value of 0,7639157 owned by pt lautan luas tbk in 2011. these results indicate that the stock price can be explained by the variable cash dividends per share, retained earnings per share, earning per share, and leverage. variable cash dividends per share, retained earnings per share, and earnings per share affect the stock price in a positive direction. while   the effect of cash dividend …… (farah margaretha; firzitya) 41  the variable leverage affect the stock price with a negative direction. explanation of each variable as follows. the test results of t-test between cash dividends per share (dps) of the stock price (sp) show the significant value of 0,000, which is smaller than 0,05. this shows that there is influence between cash dividends per share of the stock pice. then based on the regression equation shown that the coefficient for this variable is positive (3,671), so it can be interpreted that the influence exerted by the variable cash dividends per share of the stock price is positive. this shows that the higher the value of cash dividends per share, the higher the stock price of the company. this is in line with altroudi and milhem (2013) who found a positive effect between cash dividends per share of the stock price. the test results of t-test between retained earnings per share (eps) of the stock price (sp) show the significant value of 0,000, which is smaller than 0,05. this shows that there is influence between retained earnings per share of the stock price. then based on the regression equation shown that the coefficient for this variable is positive (7,899), so it can be interpreted that the influence exerted by the variable retained earnings per share of the stock price is positive. which shows that the higher the value of retained earnings per share, the higher the stock price of the company. this is in line with altroudi and milhem (2013) who found a positive effect between retained earnings per share of the stock price. the test results of t-test between earnings per share (eps) of the stock price (sp) show the significant value of 0,002, which is smaller than 0,05. this shows that there is significant effect between earnings per share of the stock price. then based on the regression equation shown, the coefficient for this variable is positive (3,135), so it can be interpreted that the influence exerted by the variable earnings per share of the stock price is positive. this shows that the higher the value of earnings per share, the higher the stock price of the company. this is in line with altroudi and milhem (2013) who found a positive effect between earnings per share of the stock price. similarly, margaretha (2009) found that when earnings per share increased, then the stock price would increase as well. the test results of t-test between leverage (lev) to stock price (sp) show the significant value of 0,001, which is smaller than 0,05. this shows that there is influence between leverage to the stock price. then based on the regression equation shown, the coefficient for this variable is negative (3,373), so it can be interpreted that the influence exerted by the variable leverage against the stock price is negative. this shows that the higher the leverage, the lower the value of the company's stock price. this is not in line with research conducted by altroudi and milhem (2013) who found no leverage to influence the stock price. however, this is in line with cai and zhang (2011) who found a negative correlation between changes in leverage against stock price. table 3 results of t-test variable regression coefficients sig conclusion cash dividends per share 3,671 0,000 significant earnings per share 3,135 0,002 significant retained earnings per share 7,899 0,000 significant leverage -3,373 0,001 significant source: secondary data processed   42 journal the winners, vol. 16 no. 1, march 2015: 36-43  conclusion this study aims to determine how the influence of cash dividends per share, retained earnings per share, earnings per share, and leverage of the stock price. this study used 23 manufacturing companies listed in indonesia stock exchange (bei) during the period 2008-2012. the results of multiple regression analysis show that all the proposed hypotheses are accepted (in the sense that there is the influence of the independent variables on the dependent variable). based on the analysis and discussion that has been done, it can be concluded as follows. first, cash dividends per share have an influence on the stock price. second, retained earnings per share have an influence on the stock price. third, earnings per share have an influence on the stock price. fourth, leverage has an influence on the stock price. moreover, results of this study are expected to be implemented by the financial managers as consideration for increasing the share price and as information for investors. the managerial implications of this research are as follows. for finance manager, the study found that cash dividends per share, retained earnings per share, earnings per share, and leverage have an influence on the stock price. financial managers need to pay attention to these factors if they want to raise the company's stock price. high stock price will attract investors to invest because of high stock prices, and it indicates that the company is a good company. for investors, before deciding to invest their funds in a company, they should consider the various factors that influence the amount of a company's stock price. these factors are cash dividends per share, retained earnings per share, earnings per share, and leverage. so that, the investors know how the state of the company and able to predict the amount of dividends to be received on the capital already invested. references alam, m. m., & uddin, m. g. s. (2009). relationship between interest rate and stock price: empirical evidence from developed and developing countries. international journal of business and management, 4(3), 43–51. retrieved from http://www.ccsenet.org/journal/index.php/ijbm/article/view/217/177 al-hasan, m. a., asaduzzaman, m., & karim, r. al. (2013). the effect of dividend policy on share price: an evaluative study. iosr journal of economics and finance, 1(4), 6–11. retrieved from http://www.iosrjournals.org/iosr-jef/papers/vol1-issue4/b0140611.pdf?id=7841 altroudi, w., & milhem, m. (2013). cash dividends, retained earnings and stock prices: evidence from jordan. interdisciplinary journal of contemporary research in business, 4(12), 585– 599. bahreini, v., baghbani, m., & bahreini, r. (2013). no title. european online journal of natural and social sciences, 2(3), 25–34. retrieved from http://europeanscience.com/eojnss/article/viewfile/332/pdf brigham, e. f., & houston, j. f. (2010). essentials of financial management. singapore: cengage learning asia. cai, j., & zhang, z. (2011). leverage change, debt overhang, and stock prices. journal of corporate finance, 17(3), 391–402. http://doi.org/doi:10.1016/j.jcorpfin.2010.12.003   the effect of cash dividend …… (farah margaretha; firzitya) 43  ebrahimi, m., & chadegani, a. (2011). the relationship between earning, dividend, stock price and stock return: evidence from iranian companies. in international conference on humanities, society and culture, 20 (pp. 318–323). retrieved from http://www.ipedr.com/vol20/62ichsc2011-m20021.pdf gitman, l. j., & zutter, c. j. (2015). principles of managerial finance (14th ed.). united state: prentice hall. gordon, m. (1959). dividends, earnings, and stock price. the review of economics and statistic, 41(2), 99–105. joshi, r. (2012). effects of dividends on stock prices in nepal. nrb economic review, 24(2), 61–75. retrieved from http://www.nrb.org.np/ecorev/pdffiles/vol24-2_art5.pdf margaretha, f. (2009). faktor yang mempengaruhi harga saham pada perusahaan yang terdaftar di bursa efek indonesia. development research of management, 4(2). margaretha, f., & isni. (2007). pengaruh indikator keuangan terhadap harga saham. jurnal ilmiah manajemen bisnis, 7(1), 59–78. ross, s. a., westerfield, r. w., & jaffe, j. (2008). corporate finance (7th ed.). usa: mcgraw-hill. seetharaman, a., & raj, j. r. (2011). an empirical study on the impact of earnings per share on stock prices of a listed bank in malaysia. the international journal of applied economics and finance, 5(2), 114–126. retrieved from http://www.scialert.net/qredirect.php?doi=ijaef.2011.114.126&linkid=pdf microsoft word 06_engelwati_rev2 comparative analysis of conventional …… (irma nadia erena; engelwati gani) 133  comparative analysis of conventional method with activity based costing in pt mulia sejati gallery irma nadia erena1; engelwati gani2 1,2accounting department, faculty of economic and communication, bina nusantara university jln. k.h. syahdan no 9, palmerah, jakarta barat, 11480 1nadiaerene06@gmail.com; 2engelwatig@binus.ac.id abstract the goal of this research was to provide readers the information about the calculation methods, both traditional and activity-based costing in the application of the cost of production. the method used in this research was the qualitative method. the analysis was done by calculating the amount of the production cost using the traditional system and the magnitude of the production cost when using the activity-based costing system. the amount of each acquisition was then performed into data analysis. the results achieved are massive distortion between the calculations using traditional systems and activity based costing system. the conclusions of the whole thesis are activity-based costing system is considered more relevant than traditional systems that are currently used by the company. keywords: management accounting, activity based costing, conventional accounting introduction problem formulations in this research are the company's production process, calculation of the production cost that is carried out by the company, the calculation of the production cost when using activity based costing, the comparison between the two methods, and reconciliation. figure 1 explains the activity in one company based on the cost. figure 1 activity based costing marble manufacturing industry cost free trade area management accounting  134  journal the winners, vol. 17 no. 2, september 2016: 133-142  the goals of this research are to know how to calculate the production cost of marble products that made by the company, the calculation of production cost if using activity-based costing system in the product that made from marble with the type of common (travertine and empire beige), limited (opera vaticano and golden venatino), and exotic (statuario and potoro gold), and the difference in costs incurred both. application of activity is based on costing in a textile company in pakistan. the case study is an international journal that discussed the determination of activity-based costing system in a textile company in pakistan. that journal is organized in islamabad (capital of pakistan) in 2013 which is made by godil that discusses the implementation of the activity-based costing system in the textile industry. research on this journal is performed to facilitate the public in setting the cost of production in the textile industry that is now starting to bloom in pakistan. it produces the cost of production in the textile company that studies and shows the company wants to compete in price, determine the cost of production, as well as the advantages and disadvantages of this system which is really needed. according to atkinson, et al., (2012) the description of the cost is as follows: "the monetary value of goods or services issued to benefit present or future. therefore, while the cost reflects the outflow of sources such as cash or financial commitment to pay in the future. the cash outflow brings benefits that can be used to make products that can be sold to generate a cash benefit ". carter (2009) has defined cost as an exchange, expenses, or sacrifices that are made to ensure the acquisition of the benefits. dunia and wasillah (2012) have suggested that the cost of production is the costs incurred in connection with manufacturing activities. the cost of production is divided into three broad categories, namely direct material, direct labor, and manufacturing overhead. while hansen and mowen (2007) have defined the traditional methods of calculating the production cost by cost charging function of direct materials and direct labor using direct search. overhead costs, on the other hand, is charged by using a driving element and allocation. according to garrison, noreen, and brewer (2013), in the traditional accounting, all expenses are charged to production costs even products cost that is not caused by products. for example, some wages for the security of the plant will be located on the product even though the wages of security guards is completely unaffected whether the firm produces or not. horngren, et al., (2007) have defined the activity based costing by identifying individual activities as the fundamental cost objects. an activity is an event, task, or a unit of work with the specific purpose. it means that activity based costing is a purification system costs by identifying the individual activities as the fundamental cost objects and activities are undertaken in the form of an event, a task, or work unit with a specific goal. according to garrison, norren, brewer (2013), it is activity based costing that method is designed to provide cost information for managers to strategic decision-making and other decisions that affect the capacity and fixed costs. weygandt, kimmel, kieso (2010) have defined that activity based costing is a cost accounting system that focuses on the activities performed in the specific manufacturing a product that can be interpreted as activity basedcosting that system exists in cost accounting. it focuses on the activities conducted in the manufacturing process of a product. methods the method used is the qualitative method that uses primary data as a reference. primary data is obtained directly from the company related to the documents concerning production processes and documents relating to the calculation of the cost of production that carried out by the company and other supporting documents on the website of the company. the collection method to obtain these data is carried out as follows (1) library research by collecting the required information or data related to comparative analysis of conventional …… (irma nadia erena; engelwati gani) 135  the topics discussed. (2) field research by conducts researches to obtain information directlyby visiting the company. field research can be done by observation, interview, and re-performance. results and discussions figure 2 shows the production process within the company. it can be seen that the process consists of three stages, namely the initial stage, processing stage, and final stage. figure 2 production process table 1 shows the method calculation that is used by the company (traditional). table 1 cost of phone bills, water, electricity and property tax in 2013 phone bills per year 24% 21% 17% 15% 13% 10% 100% travertine empire beige opera vaticano golden venatino statuario potoro gold total rp25.252.049 rp22.095.543 rp17.886.868 rp15.782.531 rp13.678.193 rp10.521.687 rp105.216.870 electricity billper year 24% 21% 17% 15% 13% 10% 100% travertine empire beige opera vaticano golden venatino statuario potoro gold total rp236.366.208 rp206.820.432 rp167.426.064 rp147.728.880 rp128.031.696 rp98.485.920 rp984.859.200 water bill per year 24% 21% 17% 15% 13% 10% 100% travertine empire beige opera vaticano golden venatino statuario potoro gold total rp125.702.592 rp109.989.768 rp89.039.336 rp78.564.120 rp68.088.904 rp52.376.080 rp523.760.800 property tax per year 24% 21% 17% 15% 13% 10% 100% travertine empire beige opera vaticano golden venatino statuario potoro gold total rp3.228.000 rp2.824.500 rp2.286.500 rp2.017.500 rp1.748.500 rp1.345.000 rp13.450.000 136  journal the winners, vol. 17 no. 2, september 2016: 133-142  the allocation of costs is charged by percentage of each product; that will be included in the calculation of factory overhead. it becomes the important thing to do, where company allocates detail costs which actually happen then charged to each product. table 2 calculation of the production cost that is used by the company (traditional) marble cost production   statuario potoro gold opera vaticano golden ventino travertine empire beige direct cost production marble cost production rp9,782,690,080 rp10,987,655,700 rp9,876,549,500 rp10,712,675,770 rp9,234,957,000 rp10,563,004,500 import taxes (has import identification number) rp244.567.252 rp274.691.393 rp246.913.738 rp267.816.894 rp230.873.925 rp264.075.113 total of direct raw material rp10.027.257.332 rp11.262.347.093 rp10.123.463.238 rp10.980.492.664 rp9.465.830.925 rp10.827.079.613 direct labor total of direct labor rp110.635.200 rp85.104.000 rp144.676.800 rp127.656.000 rp204.249.600 rp178.718.400 overhead factory cost of lab marble rp58.216.400 rp62.111.900 indirect raw material: pigment rp33,218,450 rp39,867,800 netting rp50,916,812 rp49,800,350 rp52,711,980 rp50,867,400 rp54,927,450 rp51,254,800 eppoxy rp43.672.450 rp48.679.800 rp44.219.800 rp49.990.750 rp43.849.000 rp47.980.600 resin rp62,234,560 rp61,960,800 rp62,876,500 rp61,411,250 rp62.914.700 rp60,509,200 peeled stone rp21.960.800 rp24.356.800 rp22.897.650 rp25.490.110 rp23.987.000 rp27.943.800 coating rp42.567.400 rp49.861.120 rp45.527.600 rp48.870.900 rp45.897.200 rp49.800.700 indirect labor rp214.798.740 rp165.229.800 rp280.890.660 rp247.844.700 rp396.551.520 rp346.982.580 pemeliharaandanperbaikanmesin rp50.112.150 rp48.716.890 rp52.112.650 rp50.275.600 rp57.216.000 rp53.187.000 machine depreciation rp18.987.611 rp16.980.950 rp20.055.170 rp19.170.600 rp24.145.800 rp20.170.600 wisting(20% from raw material) rp2.005.451.466 rp2.252.469.419 rp2.024.692.648 rp2.196.098.533 rp1.893.166.185 rp2.165.415.923 wastewater treatment plant rp36.211.456 rp36.540.312 rp38.251.211 rp34.875.400 rp40.821.000 rp36.987.000 property tax rp2.198.200 rp2.145.190 rp2.286.500 rp2.017.500 rp3.228.000 rp2.824.500 factory depreciation rp23.976.800 rp19.386.500 rp25.211.450 rp21.245.800 rp27.430.900 rp25.325.420 factory electricity rp128,031,696 rp98,485,920 rp167,426,064 rp147,728,880 rp36,366,208 rp206,820,432 factory water rp68.088.904 rp52.376.080 rp89.039.336 rp78.564.120 rp25.702.592 rp109.989.768 telephone rp13.678.193 rp10.521.687 rp17.886.868 rp15.782.531 rp25.252.049 rp22.095.543 vehicle maintenance rp31,435,670 rp29,856,700 rp35,761,400 rp33,217,650 rp37,814,700 rp35,911,300 vehicle depreciation rp32.423.500 rp29.879.850 rp37.245.780 rp33.421.160 rp42.453.000 rp39.876.200 equipment and supplies rp5.567.800 rp5.112.560 rp5.219.870 rp4.870.200 rp7.243.500 rp7.723.000 jagrak (penyanggamarmer) rp39.265.700 rp42.380.900 rp36.780.900 rp32.398.420 rp42.850.000 rp39.761.800 marble maintenance rp38.691.100 rp41.267.800 rp25.230.800 rp22.460.800 other overhead rp57.214.500 rp57.089.700 rp58.265.550 rp54.378.900 rp67.987.200 rp66.708.000 total overhead of factory rp3.078.920.358 rp3.245.078.828 rp3.144.590.334 rp3.230.981.204 rp2.259.804.004 rp3.417.268.166 cost of production rp13,216,812,890 rp14,592,529,920 rp13,412,730,372 rp14,339,129,868 rp2,929,884,529 rp14,123,066,178 volume of production 1.745 m2 1.771 m2 3.136 m2 2.948 m2 27.989 m2 21.611 m2 cost of production/m2 rp7574105/m2 rp8239712/m2 rp4277019/m2 rp4864020/m2 rp461963/m2 rp667395/m2 as it can be seen in table 2, the cost of goods sales of pt msg does not look proportional. it happens because the company only uses cost driver which is production volume to divide the total costs. this is less proper for some of the cost elements should be used as a cost driver; such as indirect labor costs, machinery depreciation costs, property taxes, and other similar fees. this occurs cost of distortion. adjustment of the traditional method can give benefit for the growth of the company. activity-based costing can be used to correct the distortion cost which occurs by the conventional method. comparative analysis of conventional …… (irma nadia erena; engelwati gani) 137  table 3 calculation pool rate per products 138  journal the winners, vol. 17 no. 2, september 2016: 133-142  table 3 calculation pool rate per products (continued) calculation of overhead costs by cost categories, it is starting with counting the pool rate = total overhead cost: cost driver. table 4 production cost of activity based costing system of common marble type marmer common : travertine marmer common : empire beige perhitungan overhead kelompk 1 perhitungan overhead kelompok 1 pool rate rp102.397 x volume produksi 27989 = rp.865.984.324 cost driver rp102.397.00 x volume produksi 21611 = rp2.212.897.468 perhitungan overhead kelompk 2 perhitungan overhead kelompk 2 pool rate rp100.719 x luas pabrik 2880 = rp290.070.230 cost driver rp100.719 x luas pabrik 2520 = rp253.811.452 perhitungan overhead kelompk 3 perhitungan overhead kelompk 3 pool rate rp3.486 x jumlah pengiriman 25750 = rp89.761.021 cost driver rp3.486 x jumlah pengiriman 19018 = rp66.294.179 perhitungan overhead kelompk 4 perhitungan overhead kelompk 4 pool rate rp34.366 x jam tenaga kerja langsung 11052 = rp379.808.600 cost driver rp34.3666 x jam tenaga kerja langsung 10584 = rp363.725.500 perhitungan overhead kelompk 5 perhitungan overhead kelompk 5 pool rate rp5.059 x jam mesin 13991 = rp70.784.017 cost driver rp5.059 x jam mesin 12242 = rp61.935.583 total overhead pabrik rp3.696.408.193 total overhead pabrik rp2.958.663.981 based on table 2, table 3, and table 4, it is known that the company is still using conventional methods. an overview of the amount of the production cost of each species using the calculations made by the company is as follows (1) common marble type consists of travertine = comparative analysis of conventional …… (irma nadia erena; engelwati gani) 139  rp461.963/m2 and empire beige = rp667.395/m2. (2) limited marble type consists of opera vaticano = rp4.277.019/m2 and golden venatino = rp4.86402 million/m2. (3) exotic marble type consists of statuario = rp7.574.105/m2 and potoro gold = rp8.239.712/m2. table 5 production cost of activity based costing common type production cost of activity based costing of common marble type travertine empire beige direct cost production rp9.468.830.925 rp10.827.079.613 total of direct labor rp204.249.600 rp178.718.400 total of overhead rp3.696.408.193 rp2.958.663.981 production cost rp13.369.488.718 rp13.964.461.994 production volume 27.989 m2 21.611 m2 production cost/m2 rp477.669/m2 rp646.174/m2 table 6 production cost of activity based costing system of limited marble type marmer limited : opera vaticano marmer limited : golden venatino perhitungan overhead kelompk 1 perhitungan overhead kelompok 1 pool rate rp850.520 x volume produksi 3136 = rp.2.667231035 pool rate rp850.520 x volume produksi 2984 = rp2.537.951.980 perhitungan overhead kelompk 2 perhitungan overhead kelompk 2 pool rate rp101.824 x luas pabrik 2040 = rp207.720.257 pool rate rp101.824 x luas pabrik 1800 = rp183.282.579 perhitungan overhead kelompk 3 perhitungan overhead kelompk 3 pool rate rp37.814 x jumlah pengiriman 2101 = rp79.446.581 pool rate rp37.814 x jumlah pengiriman 1592 = rp60.199.409 perhitungan overhead kelompk 4 perhitungan overhead kelompk 4 pool rate rp27.480 x jam tenaga kerja langsung 9837 = rp270.317.018 pool rate rp27.480 x jam tenaga kerja langsung 9404 = rp258.418.342 perhitungan overhead kelompk 5 perhitungan overhead kelompk 5 pool rate rp7.592 x jam mesin 9910 = rp75.232.923 pool rate rp7.592 x jam mesin 8744 = rp66.381.097 total overhead pabrik rp3.299.947.814 total overhead pabrik rp3.106.233.408 table 7 production cost of activity based costing production cost of activity based costing opera vaticano golden venatino direct cost production rp10.123.463.238 rp10.980.492.664 total of direct labor rp144.676.800 rp127.656.000 total of overhead rp3.299.947.814 rp3.106.233.408 production cost rp13.568.087.852 rp14.214.382.072 production volume 3.136 m2 2.948 m2 production cost/m2 rp4.326.559/m2 rp4.821.704/m2 140  journal the winners, vol. 17 no. 2, september 2016: 133-142  table 8 production cost of activity based costing system of exotic marble type marmer exotic : statuario marmer exotic : potoro gold perhitungan overhead kelompk 1 perhitungan overhead kelompok 1 pool rate rp1.531.460 x volume produksi 1745 = rp.2.672.398.199 pool rate rp1.531.460 x volume produksi 1771 = rp2.712.216.166 perhitungan overhead kelompk 2 perhitungan overhead kelompk 2 pool rate rp109.045 x luas pabrik 1560 = rp170.109.466 pool rate rp109.045 x luas pabrik 1200 = rp130.853.461 perhitungan overhead kelompk 3 perhitungan overhead kelompk 3 pool rate rp93.846 x jumlah pengiriman 750 = rp170.109.499 pool rate rp109.045 x jumlah pengiriman 567 = rp53.210.914 perhitungan overhead kelompk 4 perhitungan overhead kelompk 4 pool rate rp22.057 x jam tenaga kerja langsung 8849 = rp195.186.752 pool rate rp22.057 x jam tenaga kerja langsung 8380 = rp184.841.788 perhitungan overhead kelompk 5 perhitungan overhead kelompk 5 pool rate rp10.054 x jam mesin 7578 = rp76.185.577 pool rate rp10.054 x jam mesin 5830 = rp58.612.024 total overhead pabrik rp3.184.264.834 total overhead pabrik rp3.139.734.352 table 9 production cost of activity based costing production cost of activity based costing statuario potoro gold direct cost production rp10.027.257.332 rp11.262.347.093 total of direct labor rp110.635.200 rp85.104.000 total of overhead rp3.184.264.234 rp3.193.734.352 production cost rp13.322.157.366 rp13.139.734.352 production volume 1745 m2 1.771 m2 production cost/m2 rp7.634.474/m2 rp8.180.229/m2 table 10 reconciliation of production cost sistem yang digunakan perusahaan volume produksi total sistem activity based costing volume poduksi total selisih antar sistem keterangan jenis common travertine rp462.070 x 27989 rp12.932.877.230 rp477.669 x 27989 rp13.369.477.641 rp(436.600.411) understated empire beige rp667.395 x 21611 rp14.423.073.345 rp646.174 x 21611 rp13.964.466.314 rp458.607.031 overstated jenis limited opera vaticano rp4.277.019 x 3136 rp13.412.731.584 rp4.326.559 x 3136 rp13.568.089.024 rp(155.357.440) understated golden venatino rp4.864020 x 2948 rp14.339.130.960 rp4.821.704 x 2948 rp14.214.383.392 rp124.747.568 overstated jenis exotic statuario rp7.574.105 x 1745 rp13.216.813.225 rp7.634.474 x 1745 rp13.322.157.130 rp(105.343.905) understated potoro gold rp8.239.712 x 1771 rp14.592.529.952 rp8.180.229 x 1771 rp14.487.185.559 rp105.344.393 overstated total rp82.917.156.296 total rp82.925.759.060 rp(8.602.764) undertated statuario rp7.574.105 x 1745 rp13.216.813.225 rp7.634.474 x 1745 rp13.322.157.130 rp(105.343.905) understated potoro gold rp.8.239.712 x 1771 rp14.592.529.952 rp8.180.229 x 1771 rp14.487.185.559 rp105.344.393 overstated total rp82.917.156.296 total rp82.925.759.060 rp(8.602.764) understated comparative analysis of conventional …… (irma nadia erena; engelwati gani) 141  conclusions there are several conclusions that can be drawn from the research that has been done. first, pt mulia sejati gallery is an import-export company engaged in the manufacture of mining processing of natural stone marble, granite, onyx, and other kinds of that. second, pt mulia sejati gallery is still using conventional measuring systems. the cost of production of marble that is being discussed in this research is rp12.932.877.230 and rp14.423.073.345 each for common travertine and common empire beige. while the cost of production for limited types are limited opera vaticano rp13.412.731.584 and limited golden venatino rp14.33996 million. for the limited kind is rp13.216.813.225 and rp14.592.952 each for statuario and potoro gold. third, if the system uses activity based costing in determining the cost of production, then the amount of the cost of production on each type is common travertine rp13.369.477.641, common empire beige rp13.964.466.314, limited opera vaticano rp13.568.089.024, limited golden venatino rp14.214.747.568, exotic statuario rp13.322.157.130, exotic potoro gold rp14.487.185.559. fourth, by calculating the difference, the disparity of the cost of production of both systems are understated and occurs in three types of marble, namely common travertine rp436.600.411, limited opera vaticano rp155.357.440, and exotic statuario rp105.343.905. fifth, there is excess recording or overstated within the type of common empire beige rp458.607.031. limited opera vaticano rp124.747.568, exotic potoro gold rp105.344.393. sixth, the overall cost of production used by the company is too low or understated with the amount of rp8.602.764. some suggestions that can be recommended for pt mulia sejati gallery include (1) after overall analysis, there is a recording that is too low and too high on the determination of cost of production. this should be evaluated immediately to sustain the company. (2) pt mulia sejati gallery is advised to review the production cost calculation system that is currently used. (3) pt mulia sejati gallery is advised to use the system to calculate the cost of production by using the activity-based costing system. (4) training and in-depth understanding of marble are needed to be done for some employees who work directly in the production process for the sake of wasting reduction on raw materials. references atkinson, a. a., robert, s. k., & ella, m. m. (2012). akuntansi manajemen (5th ed.). terjemahan oleh takziyah, n. m. jakarta: index. carter k. w. (2009). akuntansi biaya buku 1 (14th ed.). terjemahan oleh krista. jakarta: salemba empat. dunia, a. f., & wasillah, a. (2012). akuntansi biaya (3rd ed.). jakarta: salemba empat. garrison, r. h., noreen, e. w., & brewer, p. c. (2013). akuntansi manajerial (14th ed.). jakarta: salemba empat. godil, d. i. (2013). application of activity based costing in a textile company of pakistan a case study. interdisiplinary journal of contemporary research in business, 4(11), 80-93. hansen, d. r., & maryanne, m. m. (2007). akuntansi manajemen (7th ed.). terjemahan oleh dewi itriani. jakarta: salemba empat. 142  journal the winners, vol. 17 no. 2, september 2016: 133-142  horngren, c. t., srikant, linda, s. b., m. d., george, f., walter t. h., madhav, r., & christtoper i. (2007). akuntansi (5th ed.). terjemahan oleh amir abdul yusuf. jakarta: index. weygandt, j. j., paul, d. k., & donald, e. k. (2010). accounting principles (11th ed.). new jersey: wiley. witjaksono, a. (2006). akuntansi biaya (1st ed.). yogyakarta: graha ilmu. microsoft word 02_ed_widyatama_devy_indonesian banking architecture-a2t.doc 6   journal the winners, vol. 16 no. 1, march 2015: 6-14  implementation of the indonesian banking architecture as a blueprint of the direction and order of the national banking system: empirical study of indonesian commercial banking devy m. puspitasari1; nugroho j. setiadi2; nurrina rizkiyanti3 1,2,3 faculty of business and management, widyatama university jln. cikutra no. 204a, bandung 40124 1devy.mawarni@widyatama.ac.id; 2nugroho.setiadi@widyatama.ac.id abstract this study aims to examine the influence of capital adequacy ratio (car), earning assets, and liquidity against return on asset (roa) in the conventional bank which has the biggest asset listed in indonesian stock exchange (idx) during the period of 2006 to 2010. this research used time series data from bank indonesia’s report and financial reports annually published by banking firms listed in idx. after passing the purposive sampling, there were 27 conventional banks listed in idx as sample in this study. by using multiple regression analysis (f-test), results showed that car, non performing loan (npl), and non performing loan (npl) collectively have significant influence on roa. however, by using individual analysis (t-test), npl has a negative and significant influence on roa, while car and ldr have no significant influence on roa. keywords: financial performance, indonesian banking architecture (iba), banking system, idx abstrak penelitian bertujuan untuk menguji pengaruh capital adequacy ratio (car), aktiva produktif, dan likuiditas terhadap return on asset (roa) pada bank konvensional yang memiliki aset terbesar yang terdaftar di bursa efek indonesia (bei) selama periode 2006 sampai 2010. penelitian menggunakan data time series dari laporan bank indonesia dan laporan keuangan tahunan yang diterbitkan oleh perusahaan-perusahaan perbankan yang terdaftar di bei. setelah melewati purposive sampling, 27 bank konvensional yang terdaftar di bei digunakan sebagai sampel dalam penelitian ini. dengan menggunakan analisis regresi berganda (f-test), hasil penelitian menunjukkan bahwa car, non performing loan (npl), dan non performing loan (npl) secara kolektif memiliki pengaruh yang signifikan terhadap roa. akan tetapi, dengan menggunakan analisis individu (t-test), npl memiliki pengaruh negatif dan signifikan terhadap roa, sedangkan car dan ldr tidak berpengaruh signifikan terhadap roa. kata kunci: kinerja keuangan, arsitektur perbankan indonesia, sistem perbankan, bei implementation of the indonesian..... (devy m. puspitasari; dkk) 7  introduction bank is a financial institution that has an important role in national economy as a financial intermediary. besides, bank also an industry that its business activities rely on public trust so the bank’s health needs to be preserved (merkusiwati, 2007). since the second semester in 2008, money market in various parts of the world has experienced unfavorable conditions. this situation is triggered by subprime mortgage crisis in usa that extends to investment, financial derivatives product, and commodity market. based on infobank, for banking sector in indonesia, the crisis generally is caused by a lack of liquidity in foreign currency, scarcity of credit facilities as an effect of the consolidation policy conducted by the bank on its credit portfolio, increases in interest rate, and increases in cost of credit along with the rise of credit risk (fitriyana, 2011). even though facing much pressure due to global financial crisis spreading widely, indonesian banking performance in 2008 is relatively stable. the increasing of monitoring function and cooperation with relevant authorities with the issuance of some regulation of bank indonesia and government play significant role in maintaining banking security from the negative impact of financial market turmoil. banks in indonesia succeeded in increasing its intermediary function and doing consolidation process with positive results. (bank indonesia, 2008) according to merkusiwati (2007), company performance assessment for management can be interpreted as an assessment of the achievements. in this case, profit can be used as a measure of achievement in a company. company performance assessment is important to do, either by management, shareholder, government, or any other parties who is concerned and related to the wealth distribution among them. generally, there are five valuation aspects to assess banking performance which called camel (capital, assets, management, earning, and liquidity). it is also supported by the decree of director of bank indonesia in 1999. the capital aspect includes car, the assets aspect includes npl, and the earning aspects include net interest margin (nim) and operation efficiency (bopo), while the liquidity aspects include ldr and reserve requirement (rr, in indonesian usually called as gwm). four of five aspects which are capital, assets, management, earning, and liquidity are analyzed with financial ratio. measurement of the ability to generate profit (profitability) in the banking industry that is often used is the return on equity (roe) and return on assets (roa). roa focuses on company’s ability to generate earnings from its business activities, while roe only measure the return on investment from company’s owner on that business (sudiyatno & suroso, 2010). next, this study would use roa as a performance measurement in the banking industry. capital adequacy ratio (car) is a benchmark of capital assessment in the context of a health level owned by every bank. the car magnitude is measured through a ratio between banks’s capitals to risk assets ratio (crar). since the crisis period until today, car becomes the main reference in determining a bank’s health as in declares in the decree of director of bank indonesia in 1999. the governor of bank indonesia officially announced the implementation of indonesian banking architecture (iba) which is a blueprint of the direction and national banking order in the future. one of iba programs is changing the minimum capital requirement for commercial banks (including bank pembangunan daerah) into idr 100 billion with a minimum car 8% at the latest in 2010. determination of car as a variable that affects profitability is based on its relationship with the risk level of a bank. according to werdaningtyas (2002), the height of capital ratio can protect customers, thereby increasing customer trust against the bank. based on susilo, triandaru, and santoso's (1999) study, one of a bank risks is credit risk. credit risk refers to the risk faced by the bank because of distributing the funds in the form of loans to the public. because of many things, a borrower might not fulfill its payments to the bank such as loan 8   journal the winners, vol. 16 no. 1, march 2015: 6-14  principal, interest, and others. the unfulfilled obligation of customer to the bank can cause the bank to suffer losses from uncollectable earnings that has been predicted previously. financial ratio used as a proxy of risk value is a non performing loan (npl) ratio. the lower the ratio of npl, the lower the credit risk a bank has to bear. liquidity plays an important role in managing banking performance. one of the measurements to measure bank liquidity is by using loan to deposit ratio (ldr). the rule of ldr level according to bank indonesia is 110% maximum (achmad & kusumo, 2003). it is called liquid if the bank can pay all of its debt especially short term debts (savings, current accounts, and deposits) and also able to pay and meet all credit requests (suyatmin, 2006). the more illiquid the bank is the customer trust towards the bank will collapse which leads to withdrawal funds and decreases in performance. some researchers have conducted research on the influence of capital adequacy ratio (car), earning assets, and liquidity against return on assets (roa). azwir (2006) examined the effect of some variables such as car, bopo, ldr, npl, and ppap (the allowance for possible losses earning asset) against roa. it showed that car gives a positive and significant effect on roa. the result is also supported by the research of restiyana (2011), ponco (2008), and sudiyatno and suroso (2010), with the results show that car provides a positive and significant influence on roa. in contrast with those studies, the research conducted by (adyani, 2011), which examined the factors that affect the profitability (roa), shows negative and significant influence on roa. in line with the research of adyani, the research of kusumaningrum (2011) and fitriyana (2011) about the effect of car to roa also indicates negative and significant influence. sari (2011) analyzed the influence of car, npl, bopo, nim, ldr, and ppap on banking performance. the result summarized that npl has a negative and significant influence to roa, as same as adyani (2011) and restiyana (2011). however, this result is inversely proportional to kusumaningrum (2011) which showed that npl has no influence to roa. this result is also confirmed by azwir (2006), fitriyana (2011), and ponco (2008). ponco (2008) showed that ldr has a positive and significant influence on roa, as well as restiyana (2011), (azwir, 2006), and kusumaningrum (2011). however, the result is in contrast with sudiyatno and suroso (2010) which indicate that ldr has no significant influence on roa in the banking sector. the result is supported by fitriyana (2011) and adyani (2011) which indicate that ldr has no influence to roa. research hyphoteses capital adequacy ratio (car) is commonly known in bahasa indonesia as rasio kecukupan modal. it means as the number of equity needed to cover the risk of loss which arises from the risky asset investments and financing all fixed assets and bank inventory. entire banks existed in indonesia are required to provide a minimum capital of 8% of crar. the amount capital of a bank will affect the amount of earning assets. so, the higher the utilization of an asset, the bigger the capital needed. therefore, the greater the capital adequacy ratio (car) the higher the profit will be earned. on the other hand, the smaller the risk of a bank the greater the profit earned by the bank (kuncoro & suhardjono, 2002). the result is supported by azwir (2006), sudiyatno and suroso (2010), restiyana (2011), and ponco (2008) which suggest that the capital adequacy ratio (car) has a positive and significant influence on return on assets (roa). based on the above review, the hypothesis proposed is as follows: implementation of the indonesian..... (devy m. puspitasari; dkk) 9  h1: capital adequacy ratio (car) has a positive and significant influence on return on asset (roa). non performing loan (npl) is the ratio of the amount of nonperforming loans in a bank's loan portfolio to the total amount of outstanding loans the bank holds. non performing loan (npl) reflects the amount of credit ratio faced by bank. bank can conduct its operation properly if the npl’s value is fewer than 5%. the increasing rise in npl value will cause allowance for loan and lease losses (ppap) insufficient, so that the bad credit must be taken into account as an expense (cost) that directly affects a bank’s profit. then, because of a few profit accumulations, the cost should be charged to capital (dunil, 2005). thus, the higher the npl the smaller the profit earned, and that will make the roa becomes increasingly small; on the other hand, the higher the npl the lower the performance of a bank. adyani (2011), fitriyana (2011), and kusumaningrum (2011) showed that non performing loan (npl) has a negative and significant influence on return on assets (roa). based on the premises, the hypothesis developed is as follows: h2: non performing loan (npl) has a negative and significant influence on return on assets (roa). loan to deposit ratio (ldr) is the ratio used to measure a bank’s total outstanding loans for a period to its total deposit balance of public funds and equity used over the same period (kasmir, 2003). if the ldr ratio is on the standard set by bank indonesia (80%–110%), the profit earned by the bank will increase (assuming that the bank is able to distribute its credit effectively). by increasing the profit, roa will also increase, since profit is a component to form roa. ponco (2008), azwir (2006), kusumaningrum (2011), and restiyana (2011) indicated that loan to deposit ratio (ldr) has a positive and significant influence on return on assets (roa). based on the results of empirical research, it can be hypothesized as: h3: loan to deposit ratio (ldr) has a positive and significant influence on return on assets (roa). method the data used in this study were secondary data obtained from the publication issued by indonesian stock exchange (idx), indonesian capital market directory (icmd) in 2010 (institute for economics and financial research, 2011), and banking directory from each bank. according to the classification of data collection, the analysis in this study used cross sectional data. it means the data collected was based on companies listed in indonesia stock exchange. population in this study is banking company listed in indonesian stock exchange (idx) and indonesian capital market directory (icmd) in 2010. the number of populations in this study is 29 banks. the sampling technique was done through purposive sampling method with the purpose to get a sample in accordance with the research objectives. purposive sampling method is a sampling method based on a specific criterion. the criteria are as follows: (1) banking company that has gone public in indonesian stock exchange (idx); (2) banking company listed on indonesian capital market directory (icmd) in 2010; (3) banking company that belongs to a public bank; (4) publicizing the financial statement during the period of research (2006-2010). based on the criteria, there are 27 banking companies as a sample. the sample in this study can be seen in table 1. 10   journal the winners, vol. 16 no. 1, march 2015: 6-14  tabel 1 sample of conventional banks period 2006-2010 banks banks • pt. bank mandiri (persero) tbk. • pt. bank himpunansaudara 1906, tbk. • pt. bank rakyat indonesia (persero) tbk. • pt. bank qnb kesawantbk. • pt. bank central asia tbk. • pt. bank ocbc nisp tbk. • pt. bank negara indonesia (persero) tbk. • pt. bank pundi indonesia tbk. • pt. bank cimb niagatbk. • pt. bank capital indonesia tbk. • pt. bank danamon indonesia tbk. • pt. bank arthagrahainternasionaltbk. • pt. bank panin indonesia tbk. • pt. bank ekonomiraharjatbk. • pt. bank permatatbk. • pt. bank mayapada international tbk. • pt. bank internasional indonesia tbk. • pt. bank icb bumiputeratbk. • pt. bank tabungan negara (persero) tbk. • pt. bank mega tbk. • pt. bank bumiartatbk. • pt. bank mutiaratbk. • pt. bank windukentjanainternasionaltbk. • pt. bank bukopintbk. • pt. bank nusantara parahyangantbk. • pt. bank tabungan pensiunannasionaltbk. • pt. bank victoria international tbk. source: indonesian capital market directory 2010 (from idx website) results and discussion table 2 shows adjusted r square (r2) value obtained is 0.441. this means that 44.1% of roa can be explained by car, npl, and ldr, while the remaining 55.9% explained by other variables. table 2 also shows a column of f change (f-value) and sig. f change which can be used to determine whether car, npl, and ldr can influence roa altogether. the column of f change (fvalue) shows the value of (7,843) >ftable (3.03) with the significance of f (sig. f) 0.001 less than 0.05. based on the test, it can be inferred that car, npl, and ldr provide significant influence altogether to the roa. table 2 model summary model r r square adjusted r square std. error of the estimate change statistics durbinwatson r square change f change df1 df2 sig. f change 1 0.711a 0.506 0.441 1.99722 0.506 7.843 3 23 0.001 1.869 a. predictors : (constant), ldr, npl, car source: secondary data processed durbin-watson column in table 2 is used to determine the existing of autocorrelation in a regression model. the requirement to pass autocorrelation test is the durbin-watson value must be in the range of 1.55 to 2.46. based on the column, it can be seen that the durbin-watson value is 1.869. therefore, it can be concluded that the data used on this study has no autocorrelation. implementation of the indonesian..... (devy m. puspitasari; dkk) 11  table 3 coefficients model unstandardized coefficients standardized coefficients t sig. correlations collinearity statistics b std. error beta zero order partial part tolerance vif constant -2.515 2.339 -1.075 0.239 car 0.102 0.058 0.267 1.755 0.093 0.397* 0.334 0.257 0.928 1.077 npl -0.348 0.095 -0.555 -3.653* 0.001 -0.628* -0.606 -0.536 0.932 1.073 ldr 0.042 0.026 0.231 1.573 0.129 0.223 0.312 0.231 0.995 1.005 note: sign * show significant variable between another variable source: secondary data processed based on table 3, it can be noted that the regression equation formed can be as follows: roa = -2.515 + 0.102car – 0.348npl + 0.042ldr + e. the constant value magnitude of -2.515 suggests that if a whole independent variables are not considered as influential against roa or are constant, then the magnitude of roa value is -2.515. the car coefficient magnitude of 0.102 indicates that there is a positive relationship between car and roa. so, if the car value is getting bigger, then the roa value will be bigger. the npl coefficient magnitude of -0.348 indicates a negative relationship between npl and roa. it means the bigger the value of npl the smaller the value of roa, and vice versa. ldr coefficient magnitude of 0.042 indicates a positive relationship between ldr and roa. it means the bigger the value of ldr the bigger the value of roa. there is a correlation column in table 3 that shows the relationship magnitude between independent variables and dependent variable. in this table, it can be seen that only variable of car and npl that has a close relationship with roa. there is a vif column that can also be seen in table 3, which indicates the existing of multicollinearity. to be passed on multicollinearity test, the vif value has to be higher than 10 (vif > 10). based on its requirement, the vif value in table 3 shows that regression model in this study has no multicollinearity. it can be seen also in table 3 a t-test result. it shows the relationship of independent variables and dependant variable. based on table 3, the value obtained of t-value for car variable is 1.755 with level of significance 0.093. the value of t-value(1.755) >t-table(1.71387) with significance t (sig-t) 0.093 is greater than 0.05. so it can be concluded that h1 is rejected. it means that there is no significant influence between car and roa. for the npl, the value of t-value (-3.653) <t-table (-1.71387) with significance t (sig-t) 0.001 is less than 0.005. so it can be concluded that h2 is not rejected. it means that there is a negative and significant influence between npl and roa. for the last variable, ldr, the value of t-value is 1.573 with level of significance is 0.129. the value of t-value (1.573) < t-table (1.71387) with significance of t-value is greater than 0.05. so it can be concluded that h3 is rejected. it means that there is no significant influence between ldr and roa. increasingly, tight business competition requires the company to improve its performance in order to attract public attention, so that people are willing to allocate their funds or investors are willing to invest their money. the performance of a company can be seen on the company's financial reports. the reason this research used banking company as a sample is because the banking sector plays a significant role in the economy of a country which also dominates the national financial sector (purwanto, 2010). the 27 conventional banks taken as sample from the total population 29 banks, therefore there were 2 banks eliminated because of its incompleteness secondary data required in this study. 12   journal the winners, vol. 16 no. 1, march 2015: 6-14  based on the result, car has a positive but no significance influence on roa. it is indicated by the t-value greater than t-table with the significance more than 0.05. this means that the influence of car on roa is low and statistically not significant on the significance level below 5%, or in other words h1 is rejected. this happens because in 2008 bank century experienced a case resulting the car ratio of bank century was far below the standards imposed by bank indonesia. this greatly affects the result of the research. result of this study is consistent with adyani (2011), fitriyana (2011), and kusumaningrum (2011). however, this result does not agree with azwir (2006), restiyana (2011), ponco (2008), and sudiyatno and suroso (2010) in which these studies indicate that car has significant influence on roa. the result of npl against roa indicates that npl has a negative and significant influence on roa. it means if the npl declines, it will increase the bank performance which is proxy by the roa indicator. it is indicated with the value of t-value smaller than t-table with the significance less than 0.05, so that h2 is not rejected. it is characterized by the average level of npl in the study is at a safe level, which is below 5%. this indicates that most of banks in indonesia have already kept its credit distribution very well. result of this study is in accordance with the study of adyani (2011), restiyana (2011), and sari (2011). however, these results differ from azwir (2006), ponco (2008), fitriyana (2011), and kusumaningrum (2011) which indicate that the npl variable has no significant influence on roa. the result of ldr against roa indicates that ldr has no significant influence on roa. this is showed by the t-value less than ttabel value with the significance greater than 0.05, so it can be concluded that h3 is rejected. this result illustrates the condition of banks in the bei which is generally inefficient, so that the revenue of the funds distributed to the public cannot be maximized. their inefficiencies can be caused because of credit failures, thereby increasing the bank charge. this result is supported by adyani (2011), fitriyana (2011), and sudiyatno and suroso (2010). however, on the other hands, the result study is in contrast with azwir (2006), ponco (2008), and suwandhani (2008) which indicates that ldr has a positive and significant influence on roa. conclusion based on the collective test result using f-test, it is obtained that f-value (7.843) > f-table (3.03) with the significance f (sig-f) 0.001 or less than 0.05. it infers that car, npl, and ldr collectively give a significant influence on roa. furthermore, based on the individual test result using t-test, it can be inferred as follows. capital adequacy ratio (car) variable against return on assets (roa) variable gives a positive but no significant influence. this statement is based on t-value > t-table with significance f (sig-f) 0.093 or greater than 0.05, which concludes that h1 is rejected. non performing loan (npl) variable against return on assets (roa) variable gives a negative and significant influence. the statement is based on the value of t-value (3.65) < t-table (-1.71) and the significance of f (sig-f) is 0.001 or less than 0.05, so that the h2 is not rejected. loan to deposit ratio (ldr) variable against return on assets (roa) variable has no significant influence. the statement is based on the value of t-value (1.57) < t-table (1.71) with significance f (sig-f) is 0.12 or greater than 0.05, so that the h3 is rejected. implementation of the indonesian..... (devy m. puspitasari; dkk) 13  references achmad, t., & kusumo, w. k. (2003). analisis rasio-rasio keuangan sebagai indikator dalam memprediksi potensi kebangkrutan perbankan di indonesia. media ekonomi dan bisnis, 15(1), 54–75. adyani, l. r. (2011). faktor-faktor yang mempengaruhi profitabilitas. universitas diponegoro. azwir, y. (2006). analisis pengaruh kecukupan modal, efisiensi, likuiditas, npl, dan ppap terhadap roa bank. universitas diponegoro. bank indonesia. (2008). laporan pengawasan perbankan. retrieved from bi.go.id dunil, z. (2005). bank auditing risk-based: audit dalam pemeriksaan perkreditan bank umum. jakarta: indeks. fitriyana, a. (2011). analisis pengaruh rasio kecukupan modal, likuiditas, non performing loans, equity to asset ratio dan time deposit ratio terhadap return on assets bank. universitas diponegoro. institute for economics and financial research. (2011). indonesian capital market directory 2010. kasmir. (2003). bank dan lembaga keuangan lainnya. jakarta: raja grafindo persada. kuncoro, m., & suhardjono. (2002). manajemen perbankan teori dan aplikasi. yogyakarta: bpfe. kusumaningrum, c. (2011). analisis faktor-faktor yang mempengaruhi return on assets pada bank daerah di indonesia. universitas diponegoro. merkusiwati, n. k. l. a. (2007). evaluasi pengaruh camel terhadap kinerja perusahaan. buletin studi ekonomi, 12(1), 102–110. ponco, b. (2008). analisis pengaruh car, npl, bopo, nim, dan ldr terhadap roa. universitas diponegoro. purwanto, d. (2010). sektor perbankan paling berisiko di industri keuangan. retrieved from http://economy.okezone.com/read/2010/11/16/320/393741/sektor-perbankan-paling-berisikodi-industri-keuangan restiyana. (2011). analisis pengaruh car, npl, bopo, ldr, dan nim terhadap profitabilitas perbankan. universitas diponegoro. sari, e. r. k. (2011). analisis pengaruh car, npl, bopo, nim, ldr, dan pemenuhan ppap terhadap kinerja perbankan (studi kasus pada bank umum di indonesia). universitas diponegoro. sudiyatno, b., & suroso, j. (2010). analisis pengaruh dana pihak ketiga, bopo, car, dan ldr terhadap kinerja keuangan pada sektor perbankan yang go public di bursa efek indonesia (bei) (periode 2005-2008). dinamika keuangan dan perbankan, 2(2), 125–137. 14   journal the winners, vol. 16 no. 1, march 2015: 6-14  susilo, y. s., triandaru, s., & santoso, a. t. b. (1999). bank dan lembaga keuangan lain. jakarta: salemba empat. suwandhani, a. (2008). pengaruh tingkat loan to deposit ratio (ldr) terhadap profitabilitas bank. universitas widyatama. suyatmin. (2006). analisis cash ratio, loan to deposit dan loan to asset ratio untuk mengukur tingkat likuiditas perbankan. jurnal akuntansi dan keuangan, 5(2), 134–166. werdaningtyas, h. (2002). faktor yang mempengaruhi profitabilitas bank take over pramerger di indonesia. jurnal manajemen indonesia, 1(2), 24–39. economic, business, management, and information system journal volume 6, nomor 1, maret 2005 issn: 1412 1212 pelindung envermy vem, m.sc. once kurniawan, s.kom., m.m. ir. bahtiar s. abbas, m.sc., ph.d. redaktur utama prof. dr. gerardus polla, m.app.sc. dewan redaksi antonius herusetya s.e., m.m., ak. parulian sihotang, ak., m.acc., ph.d. ir. harjanto prabowo, m.m. e.a. kuncoro, s.e., m.m. mitra bestari dr. hekinus manao, m.acc., c.g.f.m. (universitas indonesia) dr. sudarwan, m.b.a., q.i.a. (universitas trisakti) dr. ir. roy sembel, m.b.a. (program pascasarjana universitas bina nusantara) edi timbul hardiyanto, s.e., ak., m.sc., m.b.a., b.a.p (institut pendidikan internal auditor indonesia) dr. suroso isnandar, m.sc. (university of abertay, united kingdom) marien van den boom, ph.d. (inholland university, the netherlands) editor dra. endang ernawati, m.lib. titik rahayu s., s.s. david andriansyah, s.hum. lila ratna ekasari, s.hum. sekretariat hery h.m., s.kom. harkat christian zamasi holil alamat sekretariat subcenter publikasi ilmiah bidang ekonomi, center of research and publication, universitas bina nusantara jl. kebon jeruk raya no. 27, kemanggisan, jakarta barat 11530 telp. (021) 5345830, 5350660 ext. 1706 fax. (021) 5300244 e-mail: heryhm@binus.ac.id issn 1412-1212 subcenter publikasi ilmiah bidang ekonomi universitas bina nusantara economic, business, management, and information system journal volume 6, nomor 1, maret 2005 issn: 1412 1212 daftar isi kata pengantar................................................................................................................... v tomy g. soemapraja analisis kinerja kontrak berjangka komoditi pada tokyo grain exchange – jepang (commodity futures performance analysis on tokyo grain exchange – japan)................ 1-22 a. cahyadi internet marketing: solusi bagi pengusaha bermodal kecil (internet marketing: a solution for small scale enterprenuer).............................................. 23-32 budi cahyono; bagus sumargo mengartikulasikan tabel input-output dan kerangka analisisnya (articulating input output table and its analysis framework).............................................. 33-50 donny b.u. strategi komunikasi menjual telepon selular (communication strategy to sell cellular phones).................................................................. 51-58 viany utami tjhin; hudiarto; intan puspita mengukur manfaat ekonomis sistem aplikasi monitoring atm dengan metode information economics: studi kasus pt bank xyz tbk. (measuring economic value of atm monitoring application system using information economics method: a case study on xyz bank company)................... 5973 sandra sunanto membangun keunggulan bersaing di era new value economy (building competitive advantage in new value economy)................................................... 74-82 idi setyo utomo suatu tinjauan tentang tenaga kerja buruh di indonesia (a review on labor in indonesia)................................................................................................. 83-93 microsoft word 08_mn_jajat sudrajat_rev1.doc analysis of entrepreneurship …… (jajat sudrajat, et al.) 67 entrepreneurship learning process by using swot analysis jajat sudrajat1; muhammad ali rahman2; antonius sianturi3; vendy4 1,2,3,4 management department, school of business management, binus university jln. k.h. syahdan no. 9, palmerah jakarta barat, 11480 1jsudrajat@binus.edu abstract the research objective was to produce a model of learning entrepreneurship by using swot analysis, which was currently being run with the concept of large classes and small classes. the benefits of this study was expected to be useful for the binus entrepreneurship center (bec) unit to create a map development learning entrepreneurship. influences that would be generated by using swot analysis were very wide as the benefits of the implementation of large classes and small classes for students and faculty. participants of this study were binus student of various majors who were taking courses en001 and en002. this study used research and development that examining the theoretical learning components of entrepreneurship education (teaching and learning dimension), where there were six dimensions of the survey which was a fundamental element in determining the framework of entrepreneurship education. research finds that a strategy based on a matrix of factors is at least eight strategies for improving the learning process of entrepreneurship. from eight strategies are one of them strategies to increase collaboration bec with family support. this strategy is supported by the survey results to the three majors who are following the en001 and en002, where more than 85% of the students are willing to do an aptitude test to determine the advantages and disadvantages of self-development and more of 54% of the students are not willing to accept the wishes of their parents because they do not correspond to his ideals. based on the above results, it is suggested for further research, namely developing entrepreneurship research by analyzing other dimensions. keywords: entrepreneurship, learning process, swot analysis introduction in the developing countries, such as indonesia, 86% of new jobs are created by small and medium business. both in developed and developing countries, cultures and creativities play risk, structural policy, and supporting education are the foundation for growth and prosperity entrepreneurship activities. the main problem until now is the majority of students as young people still have a mind that they must seek a job. they also get support from their parents who want their children to choose work rather than entrepreneurship. agung in napitupulu (2012) has said that it occurs partly because people still shackled the idea that education should end up working in a national or multinational company. there are various frameworks or models in providing education of entrepreneurship at various educational institutions. each institution has a different focus that contributes to the growth of sustainable and maturation of entrepreneurship as a general course, in which it gives effect to contribute directly to economic productivity and jobs. currently, the private universities (pts) offers a variety of courses to attract students that course is related to the business. bina nusantara university as private seed in indonesia draws on its curriculum in 2015 that targeted the program of 2 of 3 graduates work in global company or becomes entrepreneurs. as much as 71% of students who graduated in bina nusantara university at graduation 51 on monday (12-01-15) had already been 68 journal the winners, vol. 17 no. 1, march 2016: 67-75 employed. at graduation 51, there are 345 alumni that have already worked in global companies and 105 of them have become entrepreneurs. central bureau of statistics/badan pusat statistik (2014) has mentioned that the level of unemployment indonesia in 2011 reaches 6,8% or 8,1 million. the largest percentage is the college graduates with percentage 21,5% where 9,9% of bachelor and 11,6% of diploma. the statistical data illustrates that the independence of students need jobs. based on a survey for entrepreneurship education framework (parsley, 2010), there are six dimensions of this survey are a fundamental element in determining the framework of entrepreneurship education. the survey is divided into several dimensions and sub-dimensions as follows strategy, infrastructure institutions, resources, teaching and learning, development, parties outside. the strategy is the policies and goals that describe the undergraduate or graduate from an institution's commitment to entrepreneurship education. the sub-dimensions of this part are (1) objective entrepreneurship, the purpose of entrepreneurship is embedded in the institution's mission statement or overarching goal to promote entrepreneurship. (2) entrepreneurship policy, the policy has long been known in the institution or plan activities to support entrepreneurship. (3) the strategy is implanted by the person authorized (assistant lecturer, lecturer, professor, dean, vice-chancellor, and structural employees at the entrepreneurship) with management direction to oversee the implementation of policies and objectives. the infrastructure institutions are the sources of support outside the classroom for those who are interested in entrepreneurship. the sub-dimensions of infrastructure institutions are (1) approach, the access to the department of entrepreneurship, entrepreneurship centers, facilities and technology transfer office. (2) the signification on entrepreneurship, responsible entrepreneurship designated (permanent or non-permanent), excluding associates and assistant professors to support entrepreneurship on campus. (3) research in entrepreneurship research and entrepreneurship education. (4) the structure of interdisciplinary structures allows students to receive credit toward their degrees on graduation entrepreneurship education. sub-dimension is also considering entrepreneurship activities across faculties to offer opportunities for students of different faculties to cooperate. the resources are funding and resources available for the education of entrepreneurship. the sub-dimensions of the resources are (1) the budget allocation, financial support for entrepreneurship education and the overall budget for entrepreneurship. (2) sources of income, money that arises as a result of entrepreneurship education. (3) type of financing, existing financial commitment to entrepreneurship education (financing short-term, medium or long). teaching and learning about the theoretical component of entrepreneurship education. the sub-dimensions of teaching and learning are (1) subject, a number of credits of entrepreneurship education, by the level of education (diploma, undergraduate, and postgraduate). (2) the program, access to courses in entrepreneurship with the level of education. (3) curriculum, the method that used in the development of an entrepreneurship curriculum, such as learning from other institutions (inside and outside the country), in collaboration with practitioners, or collaboration between faculties/disciplines. (4) teaching methods such as lectures, case studies, practitioner, team projects, company visits, and practical work. (5) extracurricular activities like seminars, business plan competitions, visits to companies, meetings between students and business owners outside, training schemes. development is the processes that are given to evaluate and monitor the effectiveness of entrepreneurship education. this development can be seen from (1) evaluation, the evaluation procedure formal. (2) improvements based on the user, evaluation of entrepreneurship courses to measure the results, of course, from the perspective of students and users (investors, businessmen, analysis of entrepreneurship …… (jajat sudrajat, et al.) 69 etc). (3) management and development of human resources, the introduction of staff achievement in entrepreneurship education, the need for staff to have the experience of entrepreneurs, inviting guest lecturers. and the last is the parties outside where the relationship with the community and students associated with the experience of doing entrepreneurship. the parties outside are (1) alumni, stay in a relationship with alumni that involved in entrepreneurship. (2) relationships with stakeholders, the existing relationships with foundations, private companies, entrepreneurs, government, a group of scientists, incubator, or specialized institutions in entrepreneurship. (3) community involvement, the students that are involved with practical work, project work, and business competition to develop the mindset and skills of entrepreneurship. sarasvathy (n.d) has said that entrepreneurs are conducting entrepreneurship that their activities are different from the managerial or strategic thinker because entrepreneurs have the desire and the hope that comes from something invisible or abstract for humans. other research results from bambang pratama and qudrat nugraha (2010) that the number of student respondents can be seen mostly binus students after graduation, they have said that the college students want to open their own business, it is seen by the highest number as much as 70,43%, and it is followed by the number of students who want to work as much as 24,35%. the biggest challenge for the managers of higher education is to prepare students with the competencies required to be capable of learning independently (arjanggi & suprihatin, 2010). the learning process in en001 and en002 that each student classifies each group of maximum 5 people; each group is required to create a project with an output in the form of a prototype. based on the results of the study by thomas (2013) entitled "learning for entrepreneurship in heterogeneous groups: experiences from an international, interdisciplinary higher education student program" with the object of study of the european experience summer school (ess), which has the objective to develop the entrepreneurial competence of international students from various background nonmanagement, non-business as many as 35 students from the netherlands, latvia and estonia. one of the research results, as follows (1) "... the team is more important than ideas. if you do not have a good idea, you can think of new ones. without a good team, you will not be flexible enough to think of new ideas. and without a good team, it will not work at all ...." (2) "... could be very different culture and awareness of the importance of animated discussion, despite having different opinions and share information multicultural diversity.." from the results of these studies as a basis for developing learning entrepreneurship by combining more than two courses in small classes, because basically, humans have the ability within himself that can be explored so as to be empowered and developed. the concept of individual learning based on the opinions kolb in kusumastuti (2005) that the learning model or problem solving is the process of translating experience into a concept. the rules and principles are to be used as a guide for individuals to behave in a new situation and also the modification process concepts acquired to improve the effectiveness of individuals. learning includes the process of active and passive, or concrete experience which is the basis for the observation and reflection; then the result will be assimilated observations in the theory, in order to obtain an understanding to be used as guidance in future operations. methods the research method used in this research is of research and development method by using swot analysis. according to dharma (2008), methods of research and development are a series of processes or steps in order to develop a new product or enhance existing products in order to be 70 journal the winners, vol. 17 no. 1, march 2016: 67-75 justified. these products are not always shaped objects or hardware such as books, modules, learning tools in the classroom or the laboratory. besides that it can also be software such as computer programs for data processing, learning in the classroom, library or laboratory, or models of education, learning, training, coaching, evaluation, management systems, and others. data collection techniques in this study conducted by two methods are the study of literature and field research. literature study is conducted by studying a variety of journals, literature, and books in the library and other information resources via the internet. literature study is conducted in order to obtain information that used as the theoretical basis of this research. a second data collection technique of field research is conducted by taking secondary data from previous studies of the pratama & nugraha (2010). preliminary study swot analysis of student interests after graduating with the case study is the students of binus university entrepreneurship in the it classes, literature, and mixed. the report is required to process the data regarding the variables to be studied and tested in this study. in this study, it will be explained about the analysis to be carried out to analyze the factors that affect teaching and learning the process. analyses are performed with matrix factor explaining strategies that meet the criteria for a predetermined period of observation. in this study, the method used is the swot analysis. the research frameworks which applay research and development with swot analysis are as follows: (1) swot analysis on the six-dimensional survey of entrepreneurship education framework. the survey is conducted in six dimensions along with the sub-dimensions that described in the previous section in order to get the results of a swot analysis. the survey results in the form data are then performed data processing which produces analysis strengths, weakness, opportunities, and threats. (2) data processing that determines the correlation (or lack circumstances correlation) between the current learning method against expected results (summit consulting, 2009). the survey data that analyzed contains several questions, namely (1) do students inspired business idea at the time to follow the big class? (2) do students get inspired by the merger of several departments in the big classes? (3) do the students get business ideas to be discussed in more focus on small classes? (4) do the students get an idea of business development at the time in the small classes? follow-up questions if the answer to the previous questions is yes (1) can these inspirations be developed in small classes? (2) can the merger of some departments facilitate the developing business ideas in small classes? (3) can the development of business ideas be done in small classes? (4) does after developing a business idea they objectify their business ideas? furthermore, the writers estimate a series of logistic regression to examine the correlations between different types of output involves; they are (1) expertise is expected to make market research and business plan. (2) participation of entrepreneurship participants (multi-department cooperation). (3) the performance of participants that can create a presentation with good communication. (4) various other supporting factors (communicative, makes the application of ideas in the social media, etc.). the logistic regression model is used because often these output variables are in pairs or associated. the purpose of using regression analysis does not determine model the output driver of entrepreneurial comprehensively, but rather to determine whether the correlation found is the result of factors another confounding. in other cases, it uses the average difference test to determine the participation in the learning methods differs significantly from the one that does not use the average difference test. the article uses these methods to test the following hypotheses (1) students are inspired by the business idea in large classes and small classes. (2) students are interested in merging various departments in large classes and small class. (3) students are ready benefiting with large classes and small classes. analysis of entrepreneurship …… (jajat sudrajat, et al.) 71 results and discussions in order to improve the quality of the institution headed toward world-class university, bina nusantara university has formulated a vision and mission development that lead to the institutional capacity building as well as monitoring and evaluation (m&e) on the quality and quality assurance regularly. evaluation of bina nusantara university in the last five years that must do are related to the study of the external environment, performance and management of academic programs, availability and management of resources, the improvement of quality assurance at the institutional level, as well as the development plan bina nusantara university in 2014. the results of institution evaluation form 2020 vision that a world-class university in continuous pursuit of innovation and enterprise. the 20102020 strategic plans are focused on improving the competitiveness of graduates in the competition in the era of globalization so that it can be absorbed well in the world of work and gain international recognition that bina nusantara university is a world-class university in 2020. in an effort to achieve its vision and mission, bina nusantara university has been set as follows (1) give recognition and appreciation to the talents of the most creative and the most added values. (2) providing an experience of teaching, learning, and world-class research that emphasizes excellence in scientific research, innovation, and entrepreneurship. (3) generate global community leaders who excelled and organized professional services through the application of science-based emphasis on community. (4) improving the quality of life for the people of indonesia and the international community. the approach taken in the strategic plan is to be able to realize the expectations outlined in the vision 2020. so the 2020 vision has been the main goal of the strategy and the efforts that are made by bina nusantara university. objectives that need to be achieved by 2020 in accordance with the vision outlined in the bina nusantara university are (1) world class means that bina nusantara university will produce the best examples or best practices that quality is well accepted in the international environment in learning process, research, and community service. (2) knowledge institution is defined by bina nusantara university’s role as a university in developing science in accordance with their respective fields of science and knowledge development so that they can provide economic added value in its application in society. (3) innovation is the application of knowledge that generated by bina nusantara university either breakthrough or development of existing knowledge in order to create a competitive added value for the stakeholders. (4) enterprises are the business innovative practice that generated by bina nusantara university to provide positive changes in an individual or an organization in order to increase the contribution of an individual or organization in the world. to achieve the above objectives, bina nusantara university must establish seven main strategies. these main strategies include academic quality, research that results in an exceptional (high impact research), internationalization and industrial cooperation (internationalization and industry relations/partnerships), readiness working in foreign countries and entrepreneurship (global employability and entrepreneurship), development of science and innovation (knowledge and innovation), recognition of the global world and the choice of university, and sustainable growth. through the achievement of these main strategies, it is expected bina nusantara university graduates may have the ability to work in the international environment. in addition to the strategies that have been mentioned, the graduates are equipped with debriefing soft-skills so as to improve the satisfaction level of user’s graduates. merging academic standards is enriched by high-quality research and learning experience abroad and the briefing is expected to be a soft-skills strategy so as to produce graduates who can be accepted to work in foreign countries. entrepreneurial attitude also can be one answer to increasing the percentage of graduates entering the workforce. the concept of entrepreneurial learning is a concept that is given to all students of bina nusantara university to have smart and good value. 72 journal the winners, vol. 17 no. 1, march 2016: 67-75 in order to strengthen the entrepreneurial briefing to the students, bina nusantara university establishes the unit of entrepreneurship center, binus entrepreneurship center (bec). it is under the auspices of the vice rector of the global employability and entrepreneurship. the scope of bec’s work includes the entrepreneurship curriculum development, consulting and incubation of start-up, develop and implement activities that support increased entrepreneurial character. description and analysis of the data are obtained from primary and secondary data research. primary data of this study are the result of a questionnaire distributed to 263 people. the data are the main data which is supported by the analysis of secondary data that obtained from the analysis of field observations and some literature sources to strengthen and deepen the analysis result. data are obtained from the literature that will be used as secondary data to complement and support the primary data. the swot analysis is structured planning method that used to evaluate the strengths, weakness, opportunities, and threats that involved in a project or a business venture. the swot analysis can be done for products, places, industry or people. this involves determining the objective of the business venture or project and identifying the internal and external factors that are favorable and unfavorable in achieving the objective, seen in table 1 and table 2. table 1 swot analysis strength (s), the internal factors of strength are students’ strong interest to open a business conducive environment campus environment that supports (binus entrepreneurship center) family support courses that especially packaged about the entrepreneurship weakneses (w), the internal factors of weakness are lack experience of students in business that they will be entered week business concepts and marketing concepts in the work lack understanding of the student in financial effort do not know the time in entering market (starup) not all lecturers have business experience opportunities (o), the external factors of opportunities are the conducive economy of the country that allows the growth of the creative industries a global economy that is open to anyone who has a high skill ict based opportunities are still wide open the market demands at home and abroad are quite high campus environment that supports treats threats (t), the external factors of threats are lack experience of students in business that they will be entered weak business concepts and marketing concepts in the work lack understanding of students about the financial effort not all lecturers (afm) has the business experience table 2 factors matrix strategy ifas (internal strategic factors analysis summary) efas (external strategic factors analysis summary) strengths (s) (internal factors of strength) weaknesses (w) (internal factors of weaknesses) analysis of entrepreneurship …… (jajat sudrajat, et al.) 73 table 2 factors matrix strategy (continued) opportunities (o) (external factors of opportunities) so strategy is the strategy of using strength to take advantage of opportunities. 1. support in establishing of startup of creative industries that based on ict. 2. improve collaboration bec with family support. wo strategy is the strategies in minimizing weaknesses to exploit opportunities. 1. support in establishing of start-up of creative industries that based on ict. 2. improve collaboration bec with family support. threats (t) (external factors of threats) st strategy is the strategy of using strength to resolve the threats. wt strategy is the strategy in minimizing the weaknesses and avoiding the threats. ifas (internal strategic factors analysis summary) efas (external strategic factors analysis summary) strength (s) (internal factors of strength) weaknesses (w) (internal factors of weakness) opportunities (o) (external factors of opportunities) so strategy is the strategy of using strength to take advantage of opportunities. wo strategy is the strategy in minimizing the weaknesses to exploit opportunities table 3 shows the answers of respondents regarding willing to accept the wishes of parents, though not in accordance with the ideals and willing to do an aptitude test to find out the strengths and weaknesses of students for self-development. table 3 answer of the research respondents (students of bina nusantara university) description programs marcomm program management program dkv-accounting program willing to do an aptitude test to determine the strengths and weaknesses of the students for self-development 84% agree 16% disagree 85% agree 15% disagree 91% agree 9% disagree willing to accept the wishes of parents, though it is not in accordance with the ideals 57% agree 43% disagree 46% agree 54% disagree 38% agree 62% disagree based on table 3, it can be seen where 84% students of marcomm program, 85% students of management program, and 91% students of dkv and accounting program are willing to do an aptitude test to determine the advantages and disadvantages of self-developing. 16% of students from the marcomm program, 15% students of management program, and 9% students of dkv and accounting department are not willing to do an aptitude test. while 57% of students from the marcomm program, 46% students of management program, and 38% students of the accounting and dkv are willing to accept the wishes of parents, though it is not in accordance with their ideals. 43% students of marcomm program, 54% students of management program, and 38% students of accounting and dkv program are not willing to accept the wishes of parents, though not in accordance with their ideals. 74 journal the winners, vol. 17 no. 1, march 2016: 67-75 conclusions based on the results of data processing and discussion of research, analysis of entrepreneurship learning process by using swot analysis can be summed up as follows (1) run a minimum of eight strategies for improving the learning process entrepreneurship by prioritizing the most appropriate strategy to be implemented. (2) from eight strategies, there is one of the most appropriate to implement the strategy of increasing collaboration bec with family support. this strategy is supported by the survey results to the student that are willing to do an aptitude test to determine advantages and disadvantages of self-development. (3) more than 54% of students are not willing to accept the wishes of their parents because they do not correspond to their ideals. from the conclusions, in order to achieve the purpose and objective analysis of the process of learning entrepreneurship by using swot analysis, it is advisable to run strategy from bina nusantara university, especially bec (binus entrepreneurship center) to the enhance collaboration with the support of the family, the family invites students to dialogue on (1) willingness to students in the aptitude test, (2) from the results of aptitude test can be known if the student is interested in developing entrepreneurship. the suggestions for further research that based on the above results, it is suggested for further research, namely developing entrepreneurship research by analyzing other dimensions. references arjanggi, r., & suprihatin, t. (2010). peer tutoring learning methods improve learning outcomes based on selft-regulation. mekara, sosial humaniora, 14 (2), 91–97. retrieved from http://journal.ui.ac.id/index.php/humanities/article/viewfile/666/635 badan pusat statistik. (2014). jumlah angkatan kerja, penduduk bekerja, pengangguran, tpak dan tpt, 1986–2013. retrieved from https://www.bps.go.id/linktabelstatis/view/id/973 dharma, s. (2008). pendekatan, jenis, dan metode penelitian pendidikan. jakarta: departemen pendidikan nasional. kusumastuti, d. (2005). analysis of the relationship and the influence of the individual learning style of the entreperenurship competence. bandung: graduate studies, faculty of business and management at the university widyatama. napitupulu, e. l. (2012, october 23rd). mahasiswa masih terbelenggu mencari kerja. retrieved from http://edukasi.kompas.com/read/2012/10/23/1754510/mahasiswa.masih.terbelenggu.mencari .kerja parsley, c. (2010). the teaching and practice of entrepreneurship within canadian higher education institutions. retrieved april 13th 2015 from https://www.ic.gc.ca/eic/site/061.nsf/vwapj/entrepreneurshipentreprenariat_dec2010_eng.pdf/ $file/entrepreneurship-entreprenariat_dec2010_eng.pdf pratama, b., & nugraha, q. (2010). preliminary studies swot analysis of interest students after graduation class (student case study subjects makers entrepreneurship at binus university in class it, literature and mixed). retrieved from http://web.binus.ac.id/bec/articles/articles7.aspx analysis of entrepreneurship …… (jajat sudrajat, et al.) 75 sarasvathy, s. d. (n.d). society for effective action: what makes entrepreneurs entrepreneurial? retrieved april 13th 2015 from http://www.effectuation.org/sites/default/files/documents/what-makes-entrepreneursentrepreneurial-sarasvathy.pdf summit consulting. (2009). toward effective education of innovative entrepreneurs in small business: initial results from a survey of college students and graduates, september 2009. in sba, us small business administration. retrieved april 13th 2014 from https://www.sba.gov/sites/default/files/advocacy/rs353tot.pdf thomas, l. (2013). learning for entrepreneurship in heterogeneous groups: experiences from an international, interdisciplinary higher education student program. journal of humanities and social sciences, 17 (4), 383-399. issn14060922. microsoft word 07_undip_surepno_kunci sukses dan peran strategis implementasi a2t 142   journal the winners, vol. 16 no. 2, september 2015: 142-151  the key success and strategic role of accrual based accounting implementation surepno universitas diponegoro jl. prof. h. soedarto, sh, tembalang, kota semarang  repnofine@gmail.com abstract central government policy to adopt accrual-based accounting system providing consequences for local governments to apply accrual accounting in the financial statements. empirical evidence shows that the readiness of the local government in indonesia in the process of implementation of accrual accounting is still relatively low. this study aimed to analyze the success of semarang government in implementing accrual accounting. this study also analyzes the offender's response to the implementation of the strategic role of accrual accounting in transparency and accountability. furthermore, the method used in this study is a qualitative approach to perform a case study at the department of finance and asset management area (dpkad) semarang by means of interviewing the key actors of implementation. the results showed that the successful implementation of accrual accounting semarang government is supported by four main strategies, namely management commitment, regulatory development, information systems development and human resource development. furthermore, based on the conclusions of the implementers shows that accrual accounting has a strategic role in increasing transparency and accountability through financial reporting. keywords: key success, starategic role, implementation, accrual basis abstrak kebijakan pemerintah pusat untuk mengadopsi sistem akuntansi berbasis akrual memberikan konsekuensi bagi pemerintah daerah untuk menerapkan akuntansi berbasis akrual dalam penyusunan laporan keuangan. bukti empiris memperlihatkan bahwa kesiapan pemerintah daerah di indonesia dalam proses implementasi akuntansi berbasis akrual masih relatif rendah. penelitian ini bertujuan untuk menganalisis kesuksesan pemerintah kota semarang dalam implementasi akuntansi berbasis akrual. penelitian ini juga menganalisis respon pelaku implementasi terhadap peran strategis akuntansi berbasis akrual dalam transparansi dan akuntabilitas. selanjutnya metode penelitian yang digunakan adalah pendekatan kualitatif dengan melalukan studi kasus pada dinas pengelolaan keuangan dan aset daerah (dpkad) kota semarang dengan cara mewancarai aktor kunci impelementasi.hasil penelitian menunjukkan, keberhasilan implementasi akuntansi berbasis akrual pemerintah kota semarang didukung oleh empat strategi utama yaitu komitmen pimpinan, pengembangan regulasi, pengembangan sistem informasi dan pengembangan sumber daya manusia. selanjutnya berdasarkan kesimpulan para pelaku implementasi menunjukkan akuntansi berbasis akrual memiliki peran strategis dalam peningkatan transparansi dan akuntabilitas melalui pelaporan keuangan. kata kunci: kunci sukses, peran strategis, implementasi, akuntansi berbasis akrual the key success and strategic …… (surepno) 143  introduction in 2015, all local governments in indonesia must use accrual based accounting standards. this makes local government to have no other choice to postpone the implementation of the accrual-based accounting standards. government regulation (pp) no. 71 year 2010 becomes the basis for preparing the financial statements of local governments. this regulation is enhanced with home affairs minister regulation no. 64 year 2013, which set the technical making of local government financial statements on an accrual basis. the purpose of government in implementing accrual based accounting standards is certainly to improve the quality of financial information from the local government. one of the improvements is in terms of transparency and accountability of local government financial reports. however, the implementation of this accrual based standard needs quality and commitment from the local government to be able to implement it properly. this problem still becomes an issue since the human resources are not owned as expected. thus, the implementation of accrual based accounting standards is considered too forced. the demand for public information has been entrusted by act (uu) no. 14 of 2008 pertaining public disclosure. the emergence of that act makes local government as public entity have responsibility to provide information which is owned by the public at large. information that must be published is local government financial reports (lkpd). information disclosure will become a system that can prevent corruption, collusion, and nepotism (kkn). public information that should be conveyed by local government is local government financial report. financial report has become accountability tool for the use of public funds by the local government. even though in the implementation of accrual based accounting is more complicated compare to cash basis accounting, however the government remains on the option of using accrualbased accounting standards.  although the cash-based accounting has long been used in the record, there are still many local governments that are getting a reasonable opinion with exception as well as unreasonable opinion. problems arise due to concerns of local governments are not able to meet the expectations of the central government to present accrual-based financial statements. this concern is very reasonable since most local governments do not have resources that can support the implementation of accrual based accounting. primarily, local governments still have constraints on human resources which are experts at government accounting. khan and meyes (2009) stated that in order to succeed in implementing accrual based accounting, there are four conditions that should be prepared, such as: accounting system readiness, leader policy, technical skill and system. setyaningsih (2013) found that one of the reasons local government is not ready towards the implementation of accrual based accounting system is there is still no firm commitment from the head of the region to implement it. exploration study that was conducted by setyaningsih related to the level of understanding of government officials and board members in solo showed that the level of understanding of local government officials toward the accrual based accounting standard was still low. difficulties faced within the implementation, among others are, minimum facilities, inappropriate educational staff, inexperience, lack of socialization and lack of incentives for good sap implementation. tarigan (2012) conducted a study on whether accrual based accounting adoption policies can improve the transparency and accountability in the department of regional tax and financial management (dpdpk) of yogyakarta. the result showed that local government officials in dpdpk 144   journal the winners, vol. 16 no. 2, september 2015: 142-151  of yogyakarta consider that the accrual-based accounting system was capable of improving the transparency and accountability of financial reports. thus this research has the purpose to further analyze the success of semarang government in the implementation of accrual based accounting as well as to analyze the response of implementers towards the strategic role of accrual based accounting in transparency and accountability. related with the keys to the success of the implementation and strategic role of accrual based accounting, this study is based on empirical evidence found by baboojee (2011) and rkein (2008) relating to the benefits of the application of accrual based accounting. baboojee (2011) formulated the problems related on whether the implementation of accrual based accounting was important in service enhancement. result showed that there was no influence from accrual based accounting towards service enhancement. however, different result found by rkein (2008) who conducted related research with accrual accounting and public sector reformation in australia. rkein (2008) showed that the implementation of accrual based accounting in australia was in conjunction with the reformation policy in public sector. adoption carried out gradually where adoption initially made in business like services before applied to all parts of the public sector. rkein's research showed that accrual accounting provided strategic benefits, although incomplete and varied in each instance. semarang which succeeds the application of accrual accounting earlier, provides a pretty good response. thus, further disclosure of semarang government regarding the process of implementation of accrual based accounting is required. this study will focus on the implementation of accrual-based sap in the department of finance and asset management area (dpakd) semarang because, apart from being a skpd and skpkd (unit regional finance management), dpkad semarang is a work unit of semarang government which implements and responsible for the implementation of accounting and financial reporting systems in semarang government. institutionalization process model (ipm) semarang government as the earliest government in adopting accrual based accounting make semarang as a role model of the success of accrual based accounting implementation. success could not be separated from semarang government to make a change with accounting system from cash basis into the accrual basis although, on occasion, there have been no official regulations that govern them. hence, the concept of ipm from dambrin, lambert, and sponem (2007) serves as a theoretical basis for analyzing the process of implementation of accrual based accounting in semarang government in its efforts to implement accrual based accounting. according to dambrin, lambert, and sponem (2007), the process of institutionalization is a new system which passes through four stages: (1) deployment of new ideals, (2) creation a new goal in the development of policies (new procedure), (3) development of specific management tools based on new ideals, (4) the implementation of certain techniques (internalization). dambrin, lambert, and sponem (2007) found that the institutionalization process of monitoring management system in a pharmaceutical company was conducted by a manager as a means to increase efficiency. however, they also found the difficulty in the new system which is going to be internalized. implementation of accrual based accounting the implementation of accrual basis in the accounting system of government within a country is not an easy task. adb (asian development bank) particularly highlights the problem of implementation of the accrual basis for developing countries as outlined in a paper entitled accrual budgeting and accounting in government and its relevance for developing member countries and provide seven recommendations for the implementation of the accrual basis of developing countries. the key success and strategic …… (surepno) 145  first, prudence in choosing the strategy of accrual basis implementation. there are two main models in implementing the accrual basis namely big bang models and phased models. advantages of the big bang approach are conducive to a change of organizational culture, rapidly achieve the goal, and can avoid the risks of interest. meanwhile, the advantages of profits phased approach are the problems that may arise can be noticed along with the solution during the transition period, the cash basis can still be done in parallel to reduce the risk of failure. second, political commitment is one of the important keys. the political commitment in implementing the accrual basis for developing countries becomes very essential, so that political commitment is necessary to eliminate any incompatible interests. third, the aim should be eliminated. the results and the benefits to be achieved with the implementation of an intense accrual basis should be communicated to the parties concerned. fourth, the need for reliable power accountants. professional accountants would be necessary for sufficient recruiting and training. accountant shortage will cause delays in the implementation of the accrual basis of government accounting. fifth, accounting information system should be sufficient. cash-based accounting information is an important point in turnover from basis to accrual. if a country has not had a reliable cash-based accounting system, then the country must first concentrate on improving systems and processes that already exist, before considering the shift to accrual accounting basis. sixth, the highest audit agency must have the right resources. the audit agency holds a very important key in implementing accrual basis. it takes several years to conduct audit professionalism. seventh, implementation of accrual basis should be a part from bureaucratic reform. implementation of accrual basis should not only be seen as a matter of accounting techniques, but this implementation requires organization cultural change and must be a part from the bureaucracy reform as a whole. method this study uses an interpretive approach due to: (1) understanding emerged through interaction; (2) understand the context; (3) how to understand the experience of informants; (4) how the informants create and share understanding. in addition interpretive allow researchers to engage subjectively by the study participants. interpretive researchers believe that the reality in form through the interpretation and social interaction (hines, 1998; miller, 1994; morgan, 1998; munro, 1998 in chariri, 2006). this is consistent with the purpose of the research namely to understand the process of implementation of accrual accounting and strategic role in the interpretation of research on the subject of research. methods of data collection is the most strategic step in the study, because the main goal of the research is to get data that the validity level can be justified it is necessary sources and methods of data collection are credible. according to yin (2013), there are several methods of data collection that can be done for the case study method. first, documentation, this type of information uses different forms and should be the object of explicit data collection plans. second, archive recordings, in many case studies, archival recording is often in the form of computerization and is a relevant evidence. this evidence includes: recording service, organizational record, map and geographic characteristics chart of a place, list of names, survey data and personal recordings. third, interview, within this research interview holds important role. in this study, the interview plays an important role. in this research interview method used is an open standard interview namely a structured interview. interviews were conducted individually with duration between thirty 146   journal the winners, vol. 16 no. 2, september 2015: 142-151  minutes to two hours. most of the interviews were recorded using a digital recorder. questions asked relating to the implementation of accrual accounting and its role in transparency and accountability. fourth, observation, during the visits to the case study sites, researchers created an opportunity for direct observation. these observations may extend from the formal data collection activities until the causal. informant and information collection individuals who become informants in this study consisted of three people from accounting who have position as head of division, head of sie and staff. two of the skpd have position as head of sub division of finance and staff. the following list the participants who used as informants in the study, is presented in table 1. table 1 list of the participants who used as informants informant identity working unit position en ppkd head of accounting mh ppkd head of sie reporting dn ppkd reporting staff nn skpd head of finance as skpd finance staff selection of informants based on the criteria defined by bungin (2005), such as informant is an individual that has a long and intensive blend with the activity or field of activity which is the target of research. technical analysis after obtaining the necessary data, a technique to analyze the data is needed. according to bogdam and biklem in moleong (2005), data analysis within qualitative research is efforts made to work with the data, organize data, and sort the data to be a unit that can be managed, synthesized, seek and found the patterns, found what is important and what is learned and decided what can be told to others. analysis is done by describing research data in accordance with the determined themes. besides making the analysis, the result is translated and outlined qualitatively to obtain an overview of the situation or event that is in the field. within this research, the steps of data analysis are performed with data triangulation method, then data organization, data reduction; category, concept, theme and pattern determination; and lastly data interpretation. results and discussion changes in accounting aspects led to the initiative of the government of semarang. in the 2001 mayor of semarang want the government financial statements to be presented as private sector financial statements. there were statements of financial position to facilitate the government in making decisions. to realize that on the basis of government regulation no. 105 of 2000 on regional financial management, government of semarang search reference and consultation with relevant academic preparation of accrual-based government financial statements. the key success and strategic …… (surepno) 147  here's a summary of the history of the process of implementation of accrual based accounting in semarang city government during 2005 to 2009. in that period of time, government of semarang noted some important things. first, publishing pp 24 of 2005 concerning the use of sap toward cash accrual (cta). second, conceptual framework paragraph 25, in addition to the basic financial statements (lra, balance sheet, and calk lak) reporting entities allowed to present a statement of financial performance and statement of changes in equity. third, the government continues to apply accrual basis although sap uses the base cta. in addition to the basic financial statements, the government of semarang added statements of operations (lo) as financial performance report. fourth, each examination often occurs because of differences in the perception of differences in the use of bases of accounting. fifth, in 2009, the balance sheet of semarang that was served singly equity was split according to the sap pp 24 of 2005 into edl (equity fund current), edc (equity reserve fund) and edi or equity investment fund. in 2010, government regulation no. 71 of 2010 on accrual-based sap was issued. the publication of pp was made semarang as the first city to implement accrual accounting. from 2010 until now, semarang government consistently use the accrual basis in accordance with regulation no. 71 in 2010. the process of implementation of accrual accounting in semarang city government begins with the preparation of the four main components to support the successful implementation of accrual based accounting. four keys of successful implementation are as follows: leader commitment semarang city government as described previously had the initiative to present financial statements as private sector. this initiative raised in 2001 by sukawi sutarip, the mayor during that time. this initiative was presented to the field of accounting in order to be realized. the instructions received in accounting seek to conduct consultations with various parties. consultation is done mainly by academics, practitioners, bpkp and bpk. accounting plays an important role in providing economic information used as a basis for decision-making or evaluation of the performance of an entity's achievement. local government which has culture as a public sector organization would have to have an accounting system that has a role as a basis for decision making and as an accountability evaluation. this step is confirmed by the head of the accounting field as early initiative in the implementation of accrual accounting. such as those described in the interview process as follows: "accrual accounting in semarang was initiated by the desire of the mayor at that time who wanted a generated financial report that should resemble the private sector financial reports that can be used as a basis for a decision". drafting regulation regulation becomes legal protection and guidance for implementers to be able to apply changes to the accounting system properly. the head of sub division of finance dpkad states that: "the implementation of accrual accounting in semarang city government is never be separated from regulation drafted by the accounting section dpkad. this regulation is socialized to each skpd to be applied in preparing the financial statements ". the regulation serves as guidelines for implementers to be able to run the new system. the regulation is very important for the government of semarang since the introduction of implementation in 2002. during that year, there has been no official regulation of the central government regarding the 148   journal the winners, vol. 16 no. 2, september 2015: 142-151  use of accrual accounting. semarang government made various efforts in the implementation of accrual accounting; one of them is consulting with academics, bpkp and bpk. this effort is then realized by preparing regulations for the implementation of accrual accounting. information system development semarang government accounting system was initially not integrated among the accounting entity and the reporting entity. however, in the course of implementation of accrual accounting system that is improved by hiring the services of system developers. accounting systems and procedures become one means that become advocates for the successful implementation of accrual accounting in semarang government. the decision to use accrual accounting gives consequence for government's commitment to provide an integrated accounting system with information technology. the initial process is prepared to make adjustments in information technology with accrual-based accounting system. this conforms to the commitments submitted by the mayor of semarang that: "from the it side we did upgrading to fit with the existing system. it takes time and considerable expense. but because of all the attention we devote to change this system, alhamdulillah today everything is going well ". human resource development semarang city government in the preparation of implementation accrual accounting focuses on the readiness of human resources. the built accounting system would be meaningless if the human resources are not able to run the system properly. therefore the government of semarang build two sections of human resources prepared for the implementation process, namely hr for concept development and regulation and hr for implementation and operator. hr is a key to successful implementation of accrual accounting. as it has been confirmed by the head of the accounting department, within the process of hr development, some obstacles will be encountered. these constraints include not all financial staff in skpd and dpkad have the scientific background of accounting thus necessary intensive training is needed. the following statement from the head of accounting related to the development of human resources for implementation accrual accounting: "the implementation of accrual accounting requires human resources that understand the accounting. however, not all existing staff have a good accounting capabilities. this has become one of the obstacles to implementation. therefore to resolve the issue held intensive training for all finance staff ". strategic role of accrual based accounting the application of accrual-based sap is one of the government's policy to improve the quality of financial management. changes in the accounting basis from cash basis into the accrual basis is expected to generate more comprehensive information (complete) for all users (stakeholders). with the financial information presented by the government completely will satisfy the public's right to have information about the management of its resources. the impact of the implementation of sap in enhancing transparency and accountability can be described in a statement as follows: application of psap no. 05 on inventories accounting for dpkad of semarang, in this case the atk inventory, psap number 05 regarding inventory accounting describes about government inventories accounting which includes the definition, recognition, measurement and disclosure. psap number 05 describes about materials, goods and the key success and strategic …… (surepno) 149  supplies classified into inventory, and how to recognize and measure the inventory, as well as what should be disclosed in the financial statements. psap number 05 sets on how the disclosure of inventory in any financial statements present namely: (1) the accounting policies used in measuring inventories; (2) a further explanation regarding supplies such as goods or equipment used in public services, goods or equipment used in the production process, the stored goods which are to be sold or handed over to the public; and (3) the condition of inventories. affirmation of the benefits of implementing psap number 05 delivered by the staff of the dpkad accounting department that: "if the psap number 05 is implemented correctly, the real conditions in calk will be shown. the recognition and measurement of inventories were carried out properly in accordance with sap, and the condition of the end of the budget period carried out a physical check of inventory to determine the real number and the physical condition of the inventory and to know how much inventory have actually been used to be reported on the operational reports ". one of the goals of the accounting standards is to improve government accountability through the existence of a reliable financial reporting. this is due to the accounting standard set of systems, procedures and implementation of accounting policies in general, and with the standards that the report presented by the entity will be more easily audited and compared well with the same organizational unit or with the prior year period. the existence of accounting policy will maintain the consistency of each financial statement items presented. based on the interview with the dpkad head of accounting semarang government showed that: "increased accountability of local government financial statements in applying the accrualbased sap includes the financial statements which are presented more comprehensive, truthful and objective; increase in security will be the region's assets. the implementation of accrualbased sap can assess the financial performance of local governments in accordance with the principles of economical, efficient and effective ". table 2 is a summary of the strategic role of the implementation of accrual based accounting towards the transparency and accountability of financial statements: table 2 strategic role of accrual based accounting implementation no. before implementation after implementation 1. on a cash basis, transactions and events are recognized or recorded when there is cash revenue and expenditure account. at the end of the year, if any expenditure debts is known, then journalizing will not be carried out for the transaction. lra will not present the expenditure of debt (principal or non-principal) because there is no cash outlay happens. thus the report user will not know that there is a debt obligation of the government expenditure that should be budgeted in the next fiscal year because the balance sheet is also not an obligation for the government to be reported. the advantages of the accrual basis is that the debt burden as well as the expenditure debt can be known at the same time where the transactions and promising transparency for all transactions occur during the reporting period compared to the other two basis, cash basis and cash basis towards the accrual. 2. cash accounting can not provide information relating to the entire cost of providing public services. provides financial information that can be used to calculate the entire cost of the service based on on the cost of all the used resources (including noncash resources such as the use of fixed assets). by using the full cost method, efficiency analysis and the estimated need for funds can be performed to replace assets that are being used. 150   journal the winners, vol. 16 no. 2, september 2015: 142-151  table 2 strategic role of accrual based accounting implementation (continued) no. before implementation after implementation 3. financial management accountability is limited to the resources of cash in and cash out. accountability is getting better as it extends to assets other than cash and liabilities. with accrual based accounting, an entity needs to clearly define the service performance to be achieved and the overall cost of implementing such services. 4. the absence of operational reports provide government operational information that have the potential to increase transparency and improve fiscal responsibility. 5. prior to the implementation, there is no classification of cash flows into group activities. classification of cash flows into groups operating activities, investing activities and financing activities, will provide information that can be used to trace the influence of government cash flows related to economic activity. source: adapted from primary data (interview) conclusion conclusions based on the results and discussion shows there are four main components to support the successful implementation of accrual accounting namely management commitment, regulation preparation, information systems development and human resources development. afterwards the perpetrators believe that the implementation accrual accounting can improve transparency and accountability in financial report can be presented more comprehensive, truthful and objective. the study also shows that the adoption of the new system in an entity is not easy. lengthy process must be taken to change the existing system by making changes in some aspects. the concept of ipm used by dambrin, lambert, and sponem (2007) before used by harun, peursem, and eggleton (2012) analyze the institutionalization process of accrual accounting in indonesia is relevant enough to explain the process of implementation of accrual based accounting in semarang government. this study is limited to the analysis in a local government, so the ability of researchers to explain part of the process of implementation of accrual accounting is still limited. future research could conduct a study on other local government to expand the research. references baboojee, b. (2011). improving service delivery through changing from cash to accrual accounting: lessons for south africa based on a cross-national study. research report presented in partial fulfillment of the requirements for the degree of master of development finance. university of stellenbosch, stellenbosch, south africa. bungin, b. (2005). analisis data penelitian kualitatif edisi 1. jakarta: raja grafindo persada. chariri, a. (2006). the dynamics of financial reporting practise in an indonesian insurance company: a reflection of javanese views of an ethical social relationship. disertasi, school of accounting and finance, university of wollongong, new south wales, australia. dambrin, c., lambert, c. & sponem, s. (2007), “control and change-analysis of the process and institutionalization”, management accounting research, 18, pp. 172-208. the key success and strategic …… (surepno) 151  harun, h., peursem, k. v., & eggleton, i. (2012). institutionalization of accrual accounting in the indonesian public sector. journal of accounting and organizational change, 8(3), pp. 257285. khan, a., mayes, s. (2009). transition to accrual accounting, retrieved on july 20, 2015 from http://http://blog-pfm.imf.org/files/fad-technical-manual-2.pdf moleong, j. l, (2005). metodelogi penelitian kualitatif. bandung: pt remaja rosda karya. peraturan menteri dalam negeri nomor 64 tahun 2013 tentang penerapan standar akuntansi pemerintahan berbasis akrual pada pemerintah daerah. peraturan pemerintah nomor 71 tahun 2010 tentang standar akuntansi pemerintahan. rkein, a. (2008). accrual accounting and public sector reform: northern territory experience. a thesis submitted in fulfilment of the requirements for the degree of doctor of philosophy, school of law and business faculty of law, business and arts charles darwin university. setyaningsih, t. (september 2013). studi eksplorasi pemahaman aparatur pemerintah daerah dan anggota dewan terhadap standar akuntansi berbasis akrual. simposium nasional akuntansi xvi, manado, indonesia. tarigan, e.p.a. (2012). standar akuntansi pemerintahan dalam mewujudkan akuntabilitas dan transparansi pengelolaan keuangan daerah. tesis pascasarjana ugm, yogyakarta, indonesia. yin, r.k. (2013). studi kasus: desain dan metode. jakarta: raja grafindo persada. microsoft word 04_karyono_fraud auditing.doc journal the winners, vol. 3 no. 2, september 2002: 150-160 150 fraud auditing karyono1 abstract indonesia is recognized as one of the most corrupting countries in the world. that can be seen by the facts that there are so many corruption cases handled by prosecutor and police departments but no one case has been solved properly. laws and regulations have been created, controlling, and investigating institutions have been established and maintained but those still cannot touch the corruptors and put them behind bars. public expects that accountants can improve their professional competences in detecting fraud. this article will overview about fraud auditing, condition causing fraud, characteristics and types of fraud, and the responsibility of auditor in detecting fraud. keyword: fraud auditing abstrak indonesia dikenal sebagai salah satu negara yang paling korup di dunia. hal itu terlihat dari banyaknya kasus korupsi yang ditangani oleh penuntut dan kepolisian tetapi kasus tersebut banyak yang tidak terselesaikan. hukum dan peraturan telah dibuat, lembaga pengawasan dan investigasi telah didirikan tetapi hal tersebut tetap tidak dapat menangkap dan memasukkan para koruptor ke penjara. masyarakat berharap akuntan dapat meningkatkan kompetensi profesional mereka dalam mendeteksi penipuan. artikel membahas penipuan audit, kondisi penyebab terjadinya penipuan, karakteristik dan tipe penipuan, dan tanggung jawab para auditor dalam mendeteksi penipuan. kata kunci: penipuan audit 1 staf pengajar stan & fakultas ekonomi ubinus, jakarta fraud auditing (karyono) 151 pendahuluan pada saat ini, fenomena korupsi di indonesia menjadi semakin parah. hal itu tampak dari fakta mengenai banyaknya kasus korupsi dan tindak lanjut yang ditangani oleh kejaksaan agung serta bagaimana persepsi masyarakat indonesia maupun internasional mengenai korupsi di indonesia. pendapat bahwa korupsi telah menjadi suatu penyakit yang sangat parah telah banyak dikemukakan oleh para pakar/pengamat ekonomi dan politik serta para tokoh masyarakat melalui media masa dan forum lainnya. pendapat lain bahkan menyatakan bahwa korupsi di indonesia sudah menjadi suatu sistem yang menyatu dengan penyelenggaraan pemerintah. sementara itu, di sisi lain, komitmen politik nasional untuk memberantas korupsi, kolusi, dan nepotisme (kkn) tampak dari berbagai ketetapan dan peraturan baik dari lembaga tertinggi/tinggi negara maupun dari penyelenggaraan pemerintah di semua lini. komitmen politik mpr tertuang dalam tap mpr no. x/mpr/1998 dan tap mpr no. xi/mpr/1998. berbagai kelompok dan lapisan masyarakat reformasi juga menyerukan aspirasinya untuk segera dilaksanakan pemberantasan kkn. komitmen politik dan seruan berbagai kelompok masyarakat tersebut perlu mendapat perhatian yang sungguh-sungguh dari pemerintah. di samping itu, hal itu juga merupakan tantangan sekaligus peluang bagi auditor di negeri ini untuk meningkatkan perannya di masyarakat. hasil pengkajian secara komprehensif yang dilakukan oleh badan pengawasan keuangan dan pembangunan (bpkp) dan dituangkan dalam buku strategi pemberantasan korupsi nasional menyimpulkan bahwa salah satu sebab kegagalan pemberantasan korupsi di indonesia adalah lemahnya aparat pemerintah yang menangani korupsi, utamanya dalam bidang moral dan etika profesi, di samping banyaknya kondisi yang mendorong orang untuk menjadi korup. pembahasan kondisi penyebab terjadinya fraud secara teoritis terdapat 2 (dua) kondisi pokok yang menjadi penyebab seseorang melakukan tindak perbuatan fraud/korupsi yaitu; kondisi lingkungan individu dan faktor internal organisasi. i. kondisi lingkungan individu lingkungan individu merupakan salah satu faktor yang berpengaruh kuat terhadap kemungkinan terjadinya fraud/korupsi. penelitian menunjukkan bahwa fraud/korupsi terjadi sebagai akibat kombinasi antara tekanan yang dialami individu (seseorang) dengan lingkungan yang memungkinkan seseorang atau kelompok untuk melakukan kecurangan. 1. keadaan dan sifat/karakter individu/seseorang yang mempengaruhinya untuk melakukan fraud/korupsi antara lain sebagai berikut. a. sifat tamak dan ingin mengejar kemewahan; journal the winners, vol. 3 no. 2, september 2002: 150-160 152 b. moral yang kurang kuat dalam menghadapi godaan; c. penghasilan yang kurang mencukupi untuk memenuhi kebutuhan hidup; d. adanya kebutuhan yang mendesak yang tidak dapat diatasi dengan usaha/penghasilan normal; e. malas atau tidak mau bekerja keras; f. ajaran agama yang tidak (kurang) diterapkan secara benar. 2. kondisi lingkungan organisasi/perusahaan tempatnya bekerja dalam mempengaruhi seseorang untuk melakukan fraud/korupsi antara lain sebagai berikut. a. kurang adanya teladan dari pimpinan; b. tidak adanya kultur organisasi yang baik; c. sistem akuntabilitas yang kurang memadai; d. kelemahan sistem pengendalian manajemen; e. adanya kecenderungan dari manajemen untuk menutupi korupsi yang terjadi di dalam organisasinya. 3. kondisi lingkungan masyarakat tempat individu dan organisasi berada dalam mempengaruhi seseorang untuk melakukan fraud/korupsi antara lain sebagai berikut. a. nilai yang berlaku di masyarakat yang ternyata kondusif untuk terjadinya korupsi (anggapan korupsi sebagai sesuatu yang sudah lumrah/wajar terjadi karena berbagai alas an seperti gaji yang kecil). b. budaya yang menilai keberhasilan seseorang dari tingkat materi (kekayaan) yang dimilikinya. c. kurangnya kesadaran masyarakat akan kerugian yang harus ditanggungnya akibat dari praktek fraud/korupsi yang terjadi (di lingkungan pemerintahan atau bumn/d). d. kurangnya kesadaran masyarakat akan perannya dalam mencegah dan memberantas korupsi bahkan justru menjadi pendorong terjadinya fraud/korupsi. e. generasi muda indonesia dihadapkan dengan praktek korupsi sejak lahir. 4. pengaruh peraturan perundang-undangan terhadap praktek fraud/ korupsi terjadi karena hal berikut. a. adanya peraturan perundang-undangan monopolistik. b. kualitas peraturan perundang-undangan kurang memadai. c. peraturan kurang disosialisasikan. d. sanksi atas pelanggaran aturan terlalu ringan. e. adanya peraturan yang tumpang tindih. f. pembuat aturan dapat disuap. g. ketidakkonsistenan dalam penegakan hokum dan peraturan perundangan yang ada. ii. faktor intern organisasi/perusahaan beberapa faktor intern perusahaan yang dapat menciptakan peluang terjadinya fraud/korupsi antara lain sebagai berikut. 1. kelemahan sistem pengendalian manajemen a. manajemen tidak menekankan pentingnya peran sistem pengendalian manajemen. b. manajemen tidak menindak pelaku fraud. c. manajemen tidak mengambil sikap terhadap adanya conflict of interest. d. manajemen kurang peduli pada masalah keuangan yang dihadapi karyawan. e. manajemen kurang memperhatikan kesejahteraan karyawan. f. para eksekutif menunjukkan sikap hidup mewah. g. internal auditor tidak mempunyai kewenangan untuk menyelidiki kegiatan para eksekutif, fraud auditing (karyono) 153 terutama menyangkut pengeluaran yang sangat besar. h. manajemen sendiri aktif melakukan fraud. 2. gaji/pendapat yang diberikan perusahaan tidak cukup kompetitif dibandingkan dengan gaji di perusahaan lain yang sejenis. 3. industri yang cenderung korup. a. patut diduga bahwa rekanan pemerintah hidup dalam industri yang memiliki kecenderungan korup. b. sulit melakukan pekerjaan dengan pemerintah tanpa melakukan kolusi, korupsi, dan nepotisme. 4. indikasi lain yang juga mendorong fraud/korupsi, yaitu kelemahan dalam prosedur penerimaan pegawai sehingga calon pegawai yang mempunyai integritas dan kualitas rendahpun tetap diterima menjadi pegawai. iii. gone theory gone theory yang dikemukakan oleh jack bologne menjelaskan bahwa faktor yang menyebabkan terjadinya kecurangan meliputi hal berikut. 1. greedy (keserakahan) 2. opportunities (kesempatan) 3. needs (kebutuhan) 4. exposure (pengungkapan) greedy berkaitan dengan adanya prilaku serakah yang secara potensial ada dalam diri setiap orang. opportunities berkaitan dengan keadaan organisasi atau instansi atau lingkungan masyarakat yang sedemikian rupa sehingga membuka kesempatan bagi seseorang untuk melakukan kecurangan. need berkaitan dengan kebutuhan seseorang/individu untuk dapat hidup secara wajar atau yang diinginkan. expossure berkaitan dengan tindakan atau konsekuensi yang akan dihadapi oleh seseorng apabila ditemukan melakukan fraud/korupsi. penggolongan fraud fraud adalah suatu perbuatan melawan atau melanggar hukum yang dilakukan oleh orang dari dalam atau dari luar organisasi, dengan maksud untuk memperkaya atau mendapatkan keuntungan diri sendiri, orang lain, atau badan hukum lain yang secara langsung atau tidak langsung merugikan pihak lain. fraud dapat digolongkan menurut korbannya, menurut pelakunya, dan menurut akibat hukumnya. i. ditinjau dari korbannya, fraud dapat dibedakan antara fraud yang mengakibatkan kerugian di dalam entitas organisasi dan yang mengakibatkan kerugian pihak lain. 1. fraud yang mengakibatkan kerugian di dalam organisasi dapat dilakukan oleh orang dalam atau luar organisasi misalnya sebagai berikut. a. kecurangan yang dilakukan oleh rekanan atau pemasok dengan cara mengirim barang kurang dari yang seharusnya, atau merendahkan kualitas barang yang dikirim, atau melakukan penagihan ganda. b. manipulasi dengan menciptakan piutang fiktif atau meninggikan jumlahnya yang kemudian diperoleh keuntungan pada pembayaran piutang tersebut. c. manipulasi dengan meninggikan biaya. journal the winners, vol. 3 no. 2, september 2002: 150-160 154 2. fraud yang mengakibatkan kerugian pihak lain, misalnya berikut ini. a. meninggikan nilai asset atau laba perusahaan pada laporan keuangan sehingga merugikan pemegang saham atau kreditur. b. meninggikan (mark up) nilai kontrak sehingga merugikan pemberian kerja. c. memperkecil pendapatan atau meninggikan biaya agar laba perusahaan lebih kecil dari yang seharusnya sehingga merugikan negara berupa berkurangnya penerimaan pajak. d. melaporkan penjualan eksport yang sebenarnya tidak dilakukan (ekksport fiktif) agar ppn masukan lebih kecil dibandingkan ppn keluarannya sehingga dapat merestitusi pajak yang merugikan negara. ii. ditinjau dari segi pelaku fraud dapat digolongkan sebagai berikut. 1. kecurangan manajemen yang biasa disebut kejahatan kerah putih (white collar crime), yaitu kejahatan yang dilakukan oleh orang penting atau orang yang status sosialnya tinggi dan dilakukan dalam rangka pekerjaannya. kejahatan kerah putih melibatkan suatu pelangaran tugas, kewajiban, dan tanggung jawab dengan cara melakukan tindakan/perbuatan atau menghilangkan dengan tersamar atau dengan jelas dalam suatu kecurangan yang disengaja, pencurian, atau penyelewengan dari suatu harta yang dipercayakan kepadanya. 2. kecurangan karyawan, yakni tindakan tidak jujur yang dilakukan karyawan yang berkaitan dengan kerugian dari entitas organisasinya meskipun manajemen telah menetapkan langkah pencegahan. 3. kecurangan dari luar organisasi, yaitu yang dilakukan oleh pemasok, leveransir kontraktor, dan sebagainya sehubungan dengan penyerahan pekerjaan, barang, atau jasa yang merugikan penerimaannya. 4. kecurangan yang melibatkan orang luar dan orang dalam organisasi melalui kerja sama yang tidak sehat (kolusi). iii. ditinjau dari akibat hukum yang ditimbulkan sebagai berikut. 1. merupakan tindak pidana khusus (dahulu uu no.3 tahun 1971, sekarang uu no.31 tahun 1999). 2. merupakan tindak pidana umum (diatur dalam kitab undang-undang hukum pidana). 3. merupakan kasus perdata (unsur melanggar hukum diatur dalam pasal 1365 kitab undang-undang hukum perdata). tanggung jawab auditor untuk mendeteksi fraud auditor, baik auditor independen maupun auditor intern mempunyai tanggung jawaab untuk mendeteksi fraud. menurut robert k. eliot dan john j. willingham dalam bukunya perspective in auditing menyatakan dalam terjemahan bebas bahwa “...tanggung jawab auditor untuk mendeteksi fraud merupakan tanggung jawab profesi dan tanggung jawab terhadap peraturan perundang-undangan yang berlaku”. selanjutnya, sehubungan dengan tanggung jawab tersebut fraud, robert k. elliot dan john j. willingham menyatakan. "in order to judge the effectiveness of auditors' performance in detecting and defining management fraud, one must assess their responsibilities for detecting it. their responsibilities are the benchmarks for judging their performance. one must also consider these responsibilities in planning how to improve auditor capabilities in detecting management fraund. the social demand for improved fraud auditing (karyono) 155 detection maybe met by working within the framework of responsibilities currently defined or by changing it...” untuk dapat menentukan tingkat efektivitas kinerja auditor dalam mendeteksi dan menangkal fraud, orang harus mengukur (seberapa jauh) tangung jawab auditor dalam mendeteksi fraud. tanggung jawab itu merupakan tolok ukur dalam menilai keberhasilan (kinerja) auditor. orang juga harus mempertimbangkan tanggung jawab itu dalam perencanaan mengenai cara meningkatkan kemampuan auditor dalam mendeteksi management fraud. permintaan masyarakat mengenai pendeteksian fraud mungkin telah terpenuhi dalam kerangka kerja tanggung jawab yang saat ini berlaku atau dapat pula dilakukan perubahan atas ketentuan tersebut. standar profesional akuntan publik yang dikeluarkan oleh ikatan akuntan indonesia telah mengatur tentang tanggung jawab auditor independen dalam mendeteksi kekeliruan (error) ketidakberesan (irregularities) dan unsur pelanggaran hukum (illegal acts). namun demikian, standar tersebut tidak memberikan jaminan penuh bahwa hasil audit akan dapat mendeteksi kekeliruan, ketidakberesan, dan pelanggaran hukum, melainkan hanya mengharuskan auditor untuk menentukan risiko bahwa laporan yang diperikasanya telah bebas dari kekeliruan, ketidakberesan, dan unsur pelanggaran hukum yang yang material. untuk itu, auditor harus merancang auditnya agar dapat memberikan keyakinan memadai bahwa pendeteksi kekeliruan, ketidakberesan, dan unsur pelanggaran hukum yang material telah dilakukan. auditor menggunakan istilah ketidakberesan karena istilah manipulasi, penyelewengan, penggelapan, dan pencurian karena istilah tersebut merupakan istilah yang digunakan dalam bahasa (kewenangan) hakim. penentuan risiko salah saji laporan keuangan mengharuskan auditor memahami karakteristik kekeliruan dan kerumitan terkait, kemudian merancang prosedur audit yang cocok, serta mengevaluasi hasilnya. karakteristik kekeliruan dan ketidakberesan dimaksud sebagai berikut. 1. materialitas, yaitu dampak suatu kesalahan/kekeliruan secara individual atau secara keseluruhan cukup penting sehihngga menyebabkan pengambilan keputusan menjadi keliru/salah atau laporan keuangan menjadi tidak disajikan secara wajar. 2. tingkat keterlibatan karyawan atau manajemen.atas suatu pekerjaan. hal itu berkaitan dengan keharusan adanya proses cek dan recek atas pelaksanaan suatu pekerjaan. seorang karyawan tidak boleh melakukan pekerjaan dari a sampai z tanpa ada petugas lain atau atasan yang mengecekan hasil pekerjaannya. 3. penyembunyian. meliputi manipulasi catatan akuntansi atau merekayasa dokumen pendukung untuk menutupi suatu kenyataan bahwa catatan akuntansi tidak sesuai dengan fakta dan keadaan yang melandasinya. 4. struktur pengendalian. tidak adanya prosedur pengendalian atau adanya usaha dari manajemen untuk menghindari prosedur pengendalian yang berlaku. 5. dampak terhadap laporan keuangan. untuk memenuhi tanggung jawab pendeteksian kekeliruan dan ketidakberesan, auditor juga harus menerapkan hal berikut. 1. keseksamaan dalam perencanaan dan penilaian hasil prosedur auditnya. 2. derajat skeptisme profesional yang semestinya untuk memberikan keyakinan yang memadai bahwa kekeliruan dan ketidakberesan akan terdeteksi. skeptisme profesional tersebut journal the winners, vol. 3 no. 2, september 2002: 150-160 156 mencakup skeptisme profesional dalam perencanaan audit dan skeptisme profesional dalam pelaksanaan audit. tanggung jawab auditor untuk mendeteksi dan melaporkan adanya salah saji material atas laporan keuangan sebagai akibat adanya unsur pelanggaran hukum. pada dasarnya, sama dengan tanggung jawab auditor untuk mendeteksi kekeliruan dan ketidakberesan. dampak adanya unsur pelangaran hukum terhadap laporan keuangan dapat bersifat langsung dan tidak langsung. pelanggaran hukum dan peraturan yang lebih terkait dengan aspek operasi mempunyai dampak yang tidak langsung terhadap laporan keuangan. pelanggaran hukum karena pencurian atau penggelapan atas inventori yang ada di gudang mempunyai dampak yang langsung terhadap laporan keuangan perusahaan karena saldo inventori di neraca harus disesuaikan dengan jumlah yang sebenarnya ada (di luar jumlah yang dicuri/gelapkan). pada umumnya, semakin jauh unsur pelanggaran hukum terpisah dari kejadian dan transaksi yang dicerminkan dalam laporan keuangan, semakin kecil kemungkinan auditor menyadari atau mengenal adanya unsur pelanggaran hukum terebut. namun demikian, dalam setiap pemeriksaan yang dilakukannya, auditor harus selalu waspada terhadap adanya kemungkinan terjadinya pelanggaran hukum baik dilakukan oleh oknum karyawan maupun oleh manajemen secara sistemik. jika ditemukan adanya indikasi mengenai unsur pelanggaran hukum yang mungkin mempunyai dampak material terhadap laporan keuangan, auditor berkewajiban untuk melaksanakan prosedur audit yang dirancang secara khusus untuk meyakinkan ada/tidaknya unsur pelanggaran hukum tersebut. perlu disadari bahwa suatu audit yang dilakukan berdasarkan standar auditing yang berlaku, tidaklah menjamin bahwa unsur pelanggaran hukum dapat terdeteksi. hal itu karena standar auditing yang ditetapkan tidak meliputi prosedur audit yang dirancang khusus untuk mendeteksi unsur pelanggaran hukum. standar auditing yang ada lebih dimaksudkan sebagai acuan kriteria dalam melakukan general audit atas laporan keuangan sehubungan dengan penilaian atas kewajaran lampiran keuangan auditan atau berkaitan dengan "fairness doctrine. pertanyaan yang timbul kemudian adalah dapatkah tanggung jawab auditor untuk mendeteksi fraud ditingkatkan atau diperluas. sehubungan dengan hal itu, dr. cormichael dan john j. willingham berpendapat bahwa "here are two basic issues underlying the question of the appropriate extent of auditors’ responsibilities for fraud detection. first, how should some courts have interpreted the auditors' legal responsibility in detecting fraud more broadly than the responsibility defined by professional standard? second, should the auditor professionally be responsible to detect frauds or other illegalities immaterial to the financial statement?" ada dua isu utama yang dipertanyakan dan perlu digarisbawahi mengenai esensi yang pantas mengenai tanggung jawab auditor dalam mendeteksi fraud. pertama, bagaimana hakim/pengadilan (harus) mengintepresi tanggung jawab auditor dalam mendeteksi fraud lebih luas dari tanggung jawab menurut standar profesi. kedua, haruskah auditor secara professional bertanggung jawab untuk mendeteksi fraud atau pelanggaran hukum lain yang dampaknya tidak material terhadap laporan keuangan? fraud auditing (karyono) 157 fraud auditing 1. fraud auditing merupakan proses audit yang memfokuskan pada keanehan/keganjilan (sesuatu yang tampaknya di luar kebiasaan kemudian menlusuri dan mendalami transaksi untuk merekonstruksi bagaimana terjadinya dan apa akibat yang ditimbulkannya). dalam fraud audit, proses pengumpulan bukti audit lebih fokus pada apakah fraud memang tejadi, dan jika terjadi, maka audit mengarah pada pengumpulan bukti untuk mengetahui dan membuktikan siapa pelakunya (pejabat yang terlibat), bagaimana fraud itu terjadi (modus operandinya), dimana tempat terjadinya fraud tersebut, kapan waktu terjadinya, hukum apa yang dilanggar, berapa kerugian yang diakibatkannya, siapa yang dirugikan dan diuntungkan, serta hal lain yang berkaitan dengan bukti investigasi. 2. peran penting fraud auditor meliputi preventing fraud (mencegah fraud), detecting (mendeteksi fraud), dan investigating fraud (melakukan investigasi fraud). dalam perkembangannya, investigasi akan mengarah pada profesi tersendiri, yaitu akuntan forensik. akuntan forensik membutuhkan kombinasi keahlian seorang auditor terlatih dan penyelidik kriminal. selain itu, akuntan forensik juga harus memiliki sifat berikut. a. sifat waspada dan skeptis dalam arti kewaspadaan dan kehati-hatian terhadap setiap hal yang menunjukkan kemungkinan adanya fraud. b. kemauan yang keras untuk mencari kebenaran dan bukti pendukungnya. c. rasa ingin tahu dan suka tantangan pada hal yang tidak lazim, bertentangan dengan logika, dan apa yang diharapkan secara wajar. untuk menjadi akuntan forensik, seorang fraud auditor setidak-tidaknya harus menguasai hal berikut. a. kemampuan untuk mengidentifikasikan masalah (isu) keuangan, misalnya money laundring, transfer pricing, pembukaan perusahaan fiktif di luar negeri, pemindahan dana antarrekening bank. b. memiliki pengetahuan mengenai teknik investigasi dari yang paling dasar sampai yang rumit. c. memiliki pengetahuan tentang bukti, mencakup pula untuk kepentingan pengadilan (sebagaimana diatur dalam kuhap/hukum acara pidana). d. mampu menginterprestasikan informasi keuangan dalam arti informasi keuangan merupakan kunci untuk mengarah pada investigasi dan bukti yang diperlukan. e. mampu menginterprestasikan temuan, yaitu bila proses investigasi telah selesai, akuntan forensic dituntut untuk mampu mengungkap temuan (finding) dengan jelas, akurat, dan menyakinkan. sehubungan dengan hal tersebut di atas seorang fraud auditor yang efektif, antara lain harus mampu melakukan hal berikut. 1. menilai kekuatan dan kelemahan sistem pengendalian intern. 2. mengidentifikasikan potensi kecurangan dari kelemahan sistem pengendalian intern dan potensi kecurangan akibat kerentanan/kerawanan kelompok transaksi atau aktivitas organisasi auditan. 3. mengindentifikasikan hal yang menimbulkan tanda tanya dan transaksi istimewa. 4. memahami praktek, prosedur, dan kebijakan manajemen. 5. dapat menghitung dan menetapkan besarnya kerugian, dan menyusun laporan atas kerugian karena fraud untuk kepentingan atau tujuan penyidikan, penuntutan di pengadilan, atau kepentingan lain (misalnya untuk klaim asuransi). journal the winners, vol. 3 no. 2, september 2002: 150-160 158 6. mengikuti arus dokumen yang mendukung transaksi dan dokumen pendukung untuk transaksi yang dipertanyakan. 7. me-review dokumen yang sifatnya aneh. pendeteksian fraud 1. pendekatan dan langkah dalam fraud audit pendekatan dalam rangka investigasi fraud mencakup hal berikut. a. analisis data dan bukti. b. menyusun hipotesis. c. menguji hipotesis dengan bukti lanjutan. d. menyaring dan memperbaiki hipotesis. beberapa langkah yang perlu ditempuh untuk menguji fraud, antara lain sebagai berikut. a. penguji dokumen. b. saksi netral dari pihak ketiga. c. siapa saja yang berkomplot. d. tujuan pengungkap fraud. 2. cara mendeteksi fraud langkah penting yang perlu dilakukan auditor untuk mengetahui ada tidaknya fraud dengan jalan mendeteksi dapat digunakan beberapa teknik antara lain sebagai berikut. a. teknik mendeteksi melalui audit catatan akuntansi yang mengarah pada gejala atau kemungkinan terjadinya fraud (critical point auditing). critical point auditing dengan hal berikut. analisis trend, yaitu pola kecenderungan (konjungtur) yang terjadi dari satu periode ke periode berikutnya.. pengujian khusus, yaitu pengujiaan terhadap kegiatan yang memiliki risiko tinggi terhadap kecurangan. b. teknik mendeteksi dengan analisis kepekaan pekerjaan dengan memandang pelaku potensial (job sensitivity analysis). job sensitivity analysis dengan hal berikut. identifikasi semua posisi pekerjaan yang rawan tehadap kecurangan (metode pendekatan). identifikasi tingkat pengendalian yang dilakukan manajer. kecurangan akan mudah dilakukan kalau manajer lengah atau sibuk dengan tanggung jawab lain. dan mengabaikan tanggung jawabnya dalam melakukan pengendalian. indentifikasi gejala (symptom) yang terjadi seperti adanya kekayaan pribadi yang tidak dapat dijelaskan, pola hidup mewah, rasa tidak puas, egois, pengabaian instuksi, dan ingin dianggap penting (karakter pribadi). pengujian rinci apakah pengujian dan tindak lanjut perbaikan telah dilakukan pada kesempatan pertama atas jenis pekerjaan yang berisiko tinggi. investigasi fraud menurut ilmu kriminalistik, investigasi merupakan suatu kegiatan yang dilakukan berdasarkan ketentutan perundang-undangan yang berlaku untuk mendengarkan dan menanyai seseorang tentang suatu kejadian/peristiwa tertentu yang bersangkutan dengan masalah fraud atau masalah hukum. ciri penting investigasi fraud yang berhubungan dengan tugas auditor untuk mengungkap fraud adalah bahwa kegiatan itu selalu ditandai dengan kurangnya informasi aktual fraud auditing (karyono) 159 tentang terjadinya fraud berikut pelakunya. tiga elemen yang dapat membantu untuk mengungkap informasi tersebut sebagai berikut. 1. tempat terjadi fraud. iinvestigator memeriksa dan menginterprestasikan adanya/terjadinya fraud sehingga dapat menyimpulkan dan merekonstruksikan (dalam benaknya) suatu gambaran tentang jalannya peristiwa. 2. kemampuan auditor dalam merekonstruksi terjadinya fraud. diperlukan pengetahuan/pengalaman bagi investigator untuk menemukan kekurangan informasi. investigator yang berpengalaman akan dapat melihat indikasi mengenai adanya fraud yang pada gilirannya dapat menunjukkan perbuatan dan motivasi pelaku fraud. 3. pengetahuan dari orang yang mengetahui peristiwa fraud. informasi dari orang/pihak yang mengetahui/menyaksikan terjadinya fraud sangat penting untuk menguji kebenaran fakta yang ada. penutup simpulan fenomena korupsi di indonesia menjadi semakin parah bahkan ada anggapan bahwa korupsi sudah melekat dalam sistem dan menyatu pada penyelenggaraan pemerintahan. pemerintah sebenarnya telah mempunyai niat baik untuk memberantas korupsi di negeri dengan dilahirkannya berbagai peraturan dan perundangan serta dipertahankannya unit pengawasan dalam organisasi pemerintah, seperti bpkp, itjen, dan sebagainya. hal itu juga menjadi tantangan bagi seluruh auditor baik auditor independen maupun auditor pemerintah untuk mampu dan dapat mengungkap serta mendeteksi fraud. sekalipun secara umum, standar auditing tidak menjamin bahwa dalam setiap kegiatan pemeriksaan akan mampu menemukan adanya fraud namun tingkat efektifitas kinerja auditor dapat pula dilihat berdasarkan tolok ukur sampai seberapa jauh auditor berhasil mendeteksi fraud. untuk itu, auditor harus mengembangkan teknik dan prosedur audit yang khusus untuk mendeteksinya. teknik seperti critical poin auditing dan job sensitivity analysis merupakan beberapa teknik yang digunakan auditor dalam melaksanakan audit guna memungkinkannya untuk mendeteksi fraud. selain itu, auditor juga dituntut untuk senantiasa meningkatkan kemampuan profesionalnya mengingat tuntutan dan harapan masyarakat sudah semakin besar terhadap tanggung jawab dan hasil kerja auditor, utamanya dalam bekerja sama dengan aparat penyidik (polisi dan kejaksaan) dalam membuktikan terjadinya suatu fraud. daftar pustaka bpkp. 1999. strategi pemberantasan korupsi nasional. edisi maret. jakarta. carmichael and j.w. willinghan. persective in auditing. 4th ed. mcgraw hill book company. journal the winners, vol. 3 no. 2, september 2002: 150-160 160 iai. 1995. standar profesional akuntan publik. jogya: badan penerbit stie ykpn. sawyer, l.b. 1988. sawyer’s internal auditing: the practice of modern international auditing (revised and enlarged). florida: the institute of internal auditor, inc. microsoft word 01_th. widia s._peningkatan mutu.doc peningkatan mutu proses… (th. widia soerjaningsih) 79 peningkatan mutu proses perguruan tinggi melalui sistem mutu iso 9000 th. widia soerjaningsih1 abstract article was made to answer these several questions; what is acreditation and the application in the college; what is iso 9000 quality system; why is iso 9000 needed by the college; how iso 9000 can support the achievement of the defined quality level; how iso 9000 guarantee the achievement of ban target including quality, efficiency, and relevance; what is the difference between ban acreditation and iso 9000 certification; iso 9000 consultant: why it is necessary, how to choose it, the line of the contract; iso 9000 assessor and the achieve certification: sgs and etc.; and iso 9000 certification proccess cost aspect. keywords: quality improvement, higher education, iso 9000 quality system abstrak artikel bertujuan menjawab beberapa pertanyaan, yaitu apakah akreditasi dan bagaimana penerapannya di perguruan tinggi; apakah sistem mutu iso 9000; mengapa iso 9000 perlu bagi perguruan tinggi; bagaimana iso 9000 dapat mendukung tercapainya tingkat mutu yang didefinisikan; bagaimana iso 9000 dapat menjamin tercapainya sasaran ban yang meliputi: mutu, efisiensi, dan relevansi; apa perbedaan antara sistem akreditasi ban dan sertifikasi iso 9000; konsultan iso 9000: mengapa diperlukan, bagaimana memilihnya, bagaimana garis-besar kontraknya; assessor iso 9000 dan bentuk sertifikasi yang diperoleh: sgs dan lain-lain; dan aspek biaya proses sertifikasi iso 9000. kata kunci: peningkatan mutu, perguruan tinggi, sistem mutu iso 9000 1 staf pengajar fakultas ekonomi, ubinus, jakarta journal the winners, vol. 5 no. 2, september 2004: 79-89 80 pendahuluan dalam menghadapi era globalisasi, tingkat persaingan perguruan tinggi (pt) meningkat karena persaingan tidak lagi terjadi di antara pt di dalam satu negara saja tetapi persaingan akan terjadi antarnegara. saat ini, sudah mulai banyak pt luar negeri yang memasarkan produknya di indonesia untuk mengundang para peserta didik mengikuti pendidikan di luar negeri, baik dari australia, inggris, amerika, singapura, maupun malaysia. suatu saat, pt asing akan diperbolehkan beroperasi di indonesia, berarti akan datang suatu keadaan pt indonesia harus bersaing dengan pt asing yang beroperasi di indonesia. persaingan tidak lagi terjadi di luar indonesia, melainkan persaingan akan terjadi di indonesia. hal itu berarti pasar pendidikan di indonesia akan diperebutkan di antara pt indonesia dan pt asing. agar dapat bertahan hidup di dalam masa sulit ini serta untuk mengantisipasi masa depan, pt indonesia perlu mempersiapkan diri, khususnya meningkatkan beberapa aspek, seperti (a) mutu lulusan, ditunjukkan oleh tampilan dari para lulusan pt tersebut, maupun produk lain seperti hasil penelitian dan pengabdian masyarakat; (b) efisiensi yang dapat ditunjukkan dari mutu proses pendidikan yang dilakukan; (c) efektivitas; artinya semua proses yang dilakukan adalah benar dan diperlukan sesuai kebutuhan yang direncanakan; misalnya hasil lulusan dapat diserap oleh para pemakai tenaga kerja karena pengetahuan yang dimiliki relevan dengan kebutuhan dunia usaha, serta hasil penelitian yang dihasilkan dapat dimanfaatkan. banyak usaha yang telah dilakukan oleh pemerintah melalui peraturan yang dikeluarkan guna diikuti oleh pt yang arahnya adalah berupa pembinaan pt agar misi pendidikan nasional yang terdiri dari mutu, efisiensi, dan relevansi dapat tercapai. peraturan dikti umumnya banyak mengatur persyaratan sumber daya minimal yang perlu dimiliki pt serta isi yang harus diberikan dalam bentuk kurikulum nasional guna tercapainya suatu bakuan mutu tertentu dari lulusan. akan tetapi, tidak banyak peraturan yang dibuat untuk mengatur proses yang perlu dilakukan untuk mercapai mutu dan efisiensi tersebut. juga tidak banyak informasi yang menggambarkan kebutuhan dari lulusan bidang ilmu tertentu. sistem akreditasi yang dilakukan oleh pemerintah, baik melalui peraturan yang ada maupun akreditasi yang dilakukan oleh ban, umumnya lebih berupa pengamatan sesaat yang berorientasi pada pengukuran sumber daya dan isi. bila pengamatan terhadap proses dilakukan, lebih banyak ditujukan pada pengukuran hasil proses itu dan tidak banyak diamati tentang prosesnya sendiri. sistem akreditasi dengan bakuan proses iso 9000 lebih mengarah kepada pengamatan prosesnya sendiri menggunakan metode statistik untuk mengukur dan menganalisis setiap tahapan proses yang dilakukan sehingga hasil akhir yang ditargetkan dapat dicapai. peningkatan mutu proses… (th. widia soerjaningsih) 81 pembahasan pengertian akreditasi dan penerapannya di lingkungan perguruan tinggi pengertian akreditasi dipahami sebagai penentuan standar mutu serta penilaiannya terhadap suatu lembaga pendidikan tinggi oleh pihak di luar sehingga tujuan utama suatu sistem akreditasi adalah untuk membantu lembaga di dalam mencapai standar mutu yang diharapkan. mengingat ada berbagai pengertian tentang hakikat pt (barnett, 1992) maka kriteria akreditasi pun dapat berbeda-beda pula. barnett menunjukkan bahwa setidak-tidaknya ada empat pengertian atau konsep tentang hakikat perguruan tinggi sebagai berikut. 1. perguruan tinggi sebagai penghasil tenaga kerja bermutu (qualified manpower). berarti pendidikan tinggi merupakan suatu proses dari mahasiswa sampai dihasilkan luaran yang mempunyai nilai atau harga dalam pasaran kerja. 2. perguruan tinggi sebagai lembaga pelatihan bagi karir peneliti. berarti, mutu pt ditentukan oleh penampilan/prestasi penelitian anggota staf akademik yang dimilikinya. 3. perguruan tinggi sebagai organisasi pengelola pendidikan yang efisien. dalam hal ini pt dianggap baik bila dengan sumber daya dan dana yang tersedia, jumlah mahasiswa yang lewat proses pendidikannya (throughput) semakin besar. indikator sukses lembaga pendidikan tinggi di sini, antara lain diukur dengan tingkat kegagalan mahasiswa yang rendah, dan persentase mahasiswa yang lulus dengan indeks prestasi tinggi, dan satuan biaya pendidikan bagi setiap mahasiswa yang rendah. 4. perguruan tinggi sebagai upaya memperluas dan mempertinggi pengayaan kehidupan. pt diharapkan dapat memenuhi segala permintaan masyarakat yang berminat, apapun juga permintaan itu. pt demikian diharapkan memiliki sistem penerimaan mahasiswa yang “flexible” dan bahkan diharapkan menjadi sistem yang terbuka. indikator sukses kelembagaan terletak pada cepatnya pertumbuhan jumlah mahasiswa dan variasi jenis program yang ditawarkan. rasio mahasiswa-dosen yang besar dan satuan biaya pendidikan setiap mahasiswa yang rendah juga dipandang sebagai ukuran keberhasilan pt seperti itu. pt di indonesia tidak mengikuti salah satu pola dari keempat tipe tersebut tetapi merupakan campuran yang mengandung unsur dari keempat-empatnya. mengingat masih relatif rendahnya tingkat partisipasi (participation rate) penduduk dalam kelompok umur 18-23 tahun dalam pendidikan tinggi di indonesia (tahun 1994 diperkirakan 10,3 persen; dan itu merupakan angka yang terendah di antara negara anggota asean), serta tuntutan yang semakin mendesak bagi tersedianya sumber daya manusia yang bermutu bagi pembangunan nasional, serta kebijaksanaan untuk pemerataan pendidikan. journal the winners, vol. 5 no. 2, september 2004: 79-89 82 akreditasi perguruan tinggi oleh badan akreditasi nasional (ban) sistem akreditasi atas pt di indonesia yang dilaksanakan oleh ban dikembangkan dengan melihat bahwa hakikat pt adalah sebagai tempat pembentukan sumber daya manusia yang berkualifikasi dan kemampuannya siap diaplikasikan di pasaran tenaga kerja. juga diharapkan pt dapat mengelola proses pendidikan secara efisien dan pt dapat mengembangkan ilmu. oleh karena itu, sistem akreditasi ban dikembangkan dengan dasar 5 tema pokok, yaitu relevansi, keterkaitan, kesepadanan, mutu, dan efisiensi yang disederhanakan dalam 3 tema pokok, yaitu mutu, relevansi, dan efisiensi. sistem akreditasi ditujukan kepada dua sasaran, yaitu akreditasi program studi yang mempertimbangkan tentang relevansi, keterkaitan, dan mutu; serta akreditasi kelembagaan yang mempertimbangkan aspek kesepadanan dan efisiensi, meskipun pada saat awal ini baru akreditasi program studi yang dilakukan. penjelasan 3 tema pokok akreditasi ban sebagai berikut. 1. relevansi, yaitu kondisi kurikulum dan jenis pendidikan memenuhi syarat bagi tuntutan keilmuan dan profesi yang sesuai dengan tujuan pendidikan yang meliputi pengetahuan, keterampilan, dan sikap para lulusan sehingga mampu memenuhi tuntutan pembangunan, khususnya dalam dunia industri. 2. mutu, yaitu tingkat kedalaman atau sophistikasi program studi sesuai dengan tujuan jenis pendidikannya yang meliputi kurikulum, silabus, satuan acara perkualiahan (sap), dosen, mahasiswa, prasarana penunjang. peninjauan mutu dilihat dari kaitan antara masukan, proses, dan keluaran. 3. efisiensi untuk menilai mutu suatu proses yang dilakukan di lingkungan pendidikan karena pengelolaan pendidikan yang efisien memberikan petunjuk mengenai mutu pendidikan yang dilaksanakan oleh lembaga pendidikan itu. model sistem akreditasi ban mendefinisikan dimensi yang diamati adalah mutu, relevansi, dan efisiensi sedangkan komponen yang diakreditasi, meliputi faktor masukan dengan indikator berupa mahasiswa, tenaga akademis, sarana/prasarana, dan kurikulum; faktor proses dengan indikator pengelolaan lembaga, pengelolaan program, pengelolaan pembelajaran, evaluasi program, evaluasi proses, dan evaluasi produk; kemudian faktor luaran dengan indikator hasil kinerja. model sistem akreditasi ban dapat digambarkan sebagai berikut. peningkatan mutu proses… (th. widia soerjaningsih) 83 sistem akreditasi ban masukkan mahasiswa sumber daya * tenaga * sarana & prasarana isi * kurikulum proses & evaluasi proses * kelembagaan * pengelolaan program * pengelolaan pembelajaran -evaluasi * program * proses * produk luaran : * hasil kinerja ukuran dimensi * mutu * relevansi * effisiensi peringkat : a : 600 700 b : 500 600 c : 400 500 tidak lulus < 400 gambar 1 model sistem akreditasi ban cara penilaian yang dilakukan adalah ban meminta pt yang akan dinilai untuk mengisi borang akreditasi yang terdiri dari 56 pertanyaan dengan menyertakan dokumen penunjang, bila diperlukan. dari semua isian yang dilakukan oleh pt kemudian ban melakukan evaluasi dan memberikan penilaian. hasil akhir penilaian akan menunjukkan peringkat akreditasi masing-masing program studi pt. penilaian yang dilakukan oleh ban menggunakan pendekatan penilaian mandiri (self assessment) dan masing-masing pt mendapatkan kepercayaan penuh untuk menyampaikan kondisinya. dari penilaian tersebut, setiap pt dituntut untuk mengembangkan dirinya dengan memperbaiki bagian yang dirasakan masih lemah agar harapan pemerintah yang digambarkan di dalam ukuran bakuan mutu yang digambarkan dalam borang akreditasi tersebut secara bertahap dapat dipenuhi oleh pt. sistem mutu iso 9000 1. sistem mutu iso 9000 adalah suatu bakuan mutu internasional yang umum digunakan oleh dunia industri. bakuan mutu itu pada awalnya dibuat khusus untuk dunia industri dan untuk menghasilkan produk yang sesuai bakuan tertentu maka harus dijamin oleh suatu proses yang baku. dapat dimengerti bila proses yang dilakukan di suatu pabrik mengikuti bakuan yang didefinisikan maka secara otomatis akan dihasilkan juga produk yang diinginkan, tetapi bila pada proses ada penyimpangan maka produk yang dihasilkan pun akan menyimpang dari harapan. oleh karena itu, di dalam setiap proses di pabrik selalu didefinisikan bila terjadi penyimpangan, tindakan apa yang perlu diambil agar tidak mengganggu mutu dari produk yang diharapkan. semua langkah proses itu dapat dituliskan sebagai langkah prosedur atau instruksi kerja yang secara garis besar di dalam bakuan proses iso 9000, dijabarkan dalam 20 elemen proses. 20 elemen proses tersebut dapat journal the winners, vol. 5 no. 2, september 2004: 79-89 84 dikelompokkan sehingga terbentuk model berikut. gambar 2 model manajemen mutu iso-9001 pada saat awal, bila manajemen suatu lembaga memutuskan akan memakai bakuan sistem mutu iso 9000 maka manajemen lembaga perlu mendefinisikan sistem mutu yang ingin diterapkan, dimulai dengan menentukan kebijakan mutu yang akan dipilih dan diikuti dengan penentuan sasaran mutu untuk suatu periode tertentu. semua proses yang akan dilakukan perlu didokumentasikan secara baik sehingga setiap pelaksana dapat setiap saat membaca kembali prosedur yang ada dan mengusulkan perbaikannya bila diperlukan. bakuan proses iso 9000 mensyaratkan semua dokumen perlu dituliskan sehingga sering dikatakan bahwa moto iso 9000 adalah "tuliskan apa yang dilakukan dan lakukan apa yang telah dituliskan”. dokumen sistem mutu yang perlu didefinisikan terdiri dari (a) manual mutu yang berisi kebijakan mutu, sasaran mutu, struktur organisasi lembaga, struktur organisasi mutu, uraian wewenang dan tanggung jawab fungsi mutu, garis besar sistem mutu; (b) prosedur sistem mutu dan uraian wewenang dan tanggung jawab; (c) instruksi kerja dan formulir; (d) rencana mutu yang berisi tentang nama kegiatan, parameter pemeriksaan, kriteria penerimaan, metode pemeriksaan, frekuensi pemeriksaan, pencatatan hasil pemeriksaan, acuan, dan pelaksana pemeriksa. = tanggung jawab manajemen = = sistem mutu = = pengendalian dokumen = = tindakan perbaikan & pencegahan = = audit mutu internal = = tinjauan kontrak = = pengendalian design = = pengendalian proses = = inspeksi & pengujian = = pengendalian produk pasokan pelanggan = = status inspeksi & pengujian = = pengendalian produk yang tidak sesuai = = penanganan, penyimpanan, pengemasan, perlindungan, & penyerahan = = pelayanan = = pembelian = = pengendalian peralatan inspeksi pengukuran & test = = pelatihan = = identifikasi dan mampu telusur produk = = pengendalian catatan mutu = = teknik statistik = sumber daya berkualitas data mutu pengendalian sistem mutu proses operasional peningkatan mutu proses… (th. widia soerjaningsih) 85 umumnya, manusia mempunyai kebiasaan yang mudah memaafkan diri sendiri sehingga untuk menjamin agar suatu proses yang dilakukan benar telah mengikuti bakuan yang telah didefinisikan diperlukan adanya pengamat dari luar organisasi. dalam hal iso 9000, badan akreditasi itu umum disebut sebagai badan sertifikasi internasional yang berhak melakukan pengecekan dan penilaian serta memutuskan apakah proses suatu perusahaan telah memenuhi standar iso 9000 yang diharapkan dan juga secara patuh telah melaksanakan. bagi perusahaan yang prosesnya telah memenuhi syarat yang ditetapkan dalam ketentuan iso 9000 dan patuh melaksanakannya secara otomatis berhak mendapatkan “sertifikat iso 9000”. mengapa iso 9000 penting bagi perguruan tinggi dalam menghadapi era globalisasi saat ini dan persaingan yang makin meningkat sehingga mau atau tidak pt indonesia akan dituntut untuk meningkatkan mutu agar dapat bersaing dengan pt asing. untuk peningkatan mutu, pt dapat menghayati bakuan mutu yang ditentukan melalui peraturan yang ada, termasuk bakuan mutu yang ditentukan oleh ban yang banyak mengatur tentang isi yang berupa kurnas dan sumberdaya, baik yang berupa tersedianya tenaga pengajar yang memenuhi kualifikasi jenjang pendidikan dan kualifikasi jenjang jabatan tertentu maupun sarana dan prasarana pendukung. untuk proses juga banyak ditentukan rambu dan pengawasan, antara lain melalui proses pendaftaran nirm, proses ujian negara, proses pengurusan ijazah. akan tetapi, bagaimana secara detil proses penerimaan mahasiswa, proses pengajaran, proses evaluasi mahasiswa dan termasuk proses evaluasi dosen, proses ujian tahap akhir mahasiswa, proses penyusunan kurikulum, penelitian dan pengabdian masyarakat tidak banyak diatur oleh pemerintah. untuk tercapainya mutu yang tinggi dari lulusan, selain ditentukan oleh isi dan sumberdaya, masih juga ditentukan oleh mutu proses yang dilakukan. bakuan proses iso 9000 dapat membantu tercapainya kualifikasi mutu proses yang diharapkan. hal itu berarti bakuan proses iso 9000 dapat membantu pt untuk mencapai mutu lulusan yang diharapkan dengan cara pengendalian pada semua proses yang dilakukan. akreditasi internasional dengan iso 9000 ditujukan pada bagaimana cara menjaga mutu proses pendidikan dengan usaha mendokumentasikan semua proses dengan baik serta melakukan semua proses yang telah didokumentasikan tersebut. juga melakukan peningkatan yang menerus (continuous improvement) karena secara periodik akan dilakukan pengecekan atau “assessment” terhadap proses yang telah dilakukan. dengan demikian, bakuan mutu iso 9000 akan membantu pt agar secara menerus meningkatkan mutu proses demi terjaminnya ketercapaian tingkat mutu yang telah didefinisikan. iso 9000 dapat menjamin tercapainya tingkat mutu journal the winners, vol. 5 no. 2, september 2004: 79-89 86 yang didefinisikan apakah dengan iso 9000 berarti pt tersebut pasti menghasilkan lulusan yang berkualitas? jawabnya adalah belum tentu, tergantung pada definisi tingkat mutu yang ingin dicapai. hal itu dapat dibaca pada kebijakan mutu serta sasaran mutu yang didefinisikan oleh lembaga yang bersangkutan. bakuan proses iso 9000 hanya akan menjamin bahwa proses yang didefinisikan adalah benar mengarah kepada sasaran mutu yang didefinisikan dan semua proses yang didefinisikan benar telah dilaksanakan sesuai prosedur yang didefinisikan. dengan mengikuti kendali urutan proses yang ditentukan dalam prosedur iso 9000, secara otomatis mutu proses pendidikan dengan mudah dapat dikendalikan sehingga mempermudah tercapainya tingkat mutu yang didefinisikan. iso 9000 dapat menjamin tercapainya tiga kriteria ban komponen utama yang diharapkan oleh pemerintah yang meliputi mutu, relevansi, dan efisiensi merupakan dimensi ukuran masukan, proses, dan keluaran, seperti digambarkan dalam model sistem akreditasi ban. ukuran baku yang diharapkan dicapai oleh pt yang ditentukan oleh pemerintah tersebut dapat didefinisikan dalam sasaran mutu yang ingin dicapai oleh pt. untuk tercapainya sasaran mutu yang telah didefinisikan, perlu digambarkan di dalam rencana mutu dan semua prosedur serta instruksi kerja yang direncanakan. bila semua rencana itu dilaksanakan secara patuh, akan menghasilkan suatu hasil setiap tahap proses yang dapat diukur dengan metode statistik yang juga telah didefinisikan sebelumnya. dengan analisis atas hasil tersebut, dapat ditentukan langkah yang diperlukan untuk memperbaiki proses secara terus menerus. bila terdapat penyimpangan atas hasil terhadap yang diharapkan, dapat dilakukan langkah memperbaikinya. dengan demikian, secara pasti sasaran mutu yang didefinisikan meliputi komponen mutu, efisiensi, dan relevansi secara mudah dapat dicapai. perbedaan antara akreditasi ban dan akreditasi iso 9000 proses akreditasi ban dan proses sertifikasi iso 9000, saling mendukung untuk tercapainya mutu, relevansi, dan tingkat efisiensi yang diharapkan. perbedaan utama terjadi pada cara assesment-nya, proses akreditasi ban banyak menanyakan keadaan/hasil tahapan proses pada saat pengukuran dilakukan tanpa mengamati prosesnya sendiri. assesment yang dilakukan oleh badan sertifikasi internasional iso 9000 lebih banyak melakukan pengecekan atas proses yang dilakukan, meskipun tidak juga melepaskan diri terhadap pengamatan atas hasil setiap tahapan proses. penekanan yang dilakukan oleh bakuan proses mutu iso 9000 adalah terdokumentasikannya semua tahapan proses yang dilakukan dalam organisasi serta dilaksanakannya semua proses yang telah didokumentasikan tersebut. pada akreditasi yang dilakukan ban, pasti kondisi dokumentasi yang dilakukan telah rapi akan sangat peningkatan mutu proses… (th. widia soerjaningsih) 87 membantu kemudahan pengisian borang. kelemahan sistem akreditasi oleh ban adalah pt yang sistem dokumentasinya kurang baik pun, mereka dapat mengisi dengan pendekatan perkiraan yang diharapkan oleh pemerintah, bukan keadaan nyata dari data yang ada di pt yang bersangkutan. bila pt telah mengetahui sebenarnya ukuran yang dikatakan baik itu seperti apa, pengisian bukan dengan data yang ada tetapi didekati supaya lulus dari proses akreditas; akibat tidak mungkinnya dilakukan peninjauan langsung ke setiap pt yang akan di evaluasi; akibat pertimbangan biaya. kelemahan lain adalah ikut sertanya para pelaksana pt di dalam proses akreditasi itu sehingga tidak mungkin dapat dihasilkan penilaian yang objektif penuh. penilai dalam hal ini cenderung untuk melakukan pengecekan atas apa yang dilaporkan. pada evaluasi dengan sistem iso 9000, pengamatan dilakukan langsung di tempat kerja sehari-hari dari para petugas sehingga bila ada proses yang tidak dilakukan atau dilakukan secara salah, langsung akan dapat diketahui oleh pengamat. pengamat yang melakukan penilaian adalah mereka yang tidak terkait sama sekali dengan pt sehingga secara bebas mereka dapat melakukan evaluasi, termasuk evaluasi ialah memberikan pandangan lain untuk perbaikan dari proses yang dilakukan. konsultan iso 9000: bagaimana memilih dan bagaimana kontraknya untuk dapat tercapainya keadaan proses standar iso 9000 dapat dilaksanakan secara penuh oleh sebuah lembaga, diperlukan komitmen yang tinggi dari pimpinan lembaga yang dapat mendorong seluruh proses yang di bawah tanggung jawabnya untuk disesuaikan dengan kebutuhan standar proses iso 9000. selain komitmen dari pimpinan lembaga, masih diperlukan konsultan yang mengerti tentang proses iso 9000 itu agar perubahan/penyesuaian proses semua proses yang sedang berjalan dengan mudah dapat diubah ke arah standar proses iso 9000. pemakaian konsultan akan mempercepat proses perubahan karena konsultan (yang berpengalaman) dapat menjadi agen pengalihan “know-how” secara efektif dan dapat memberikan rekomendasi yang tepat dalam implementasi iso 9000. termasuk konsultan dapat membantu memberikan umpan balik yang objektif kepada manajemen puncak. bila jangka waktu yang ditargetkan semakin pendek maka peranan konsultan semakin diperlukan. konsultan akan mempunyai waktu yang lebih baik dibandingkan dengan tenaga intern yang tentunya tidak dapat meninggalkan pekerjaan rutin mereka dalam organisasi. dalam menerapkan bakuan iso 9000, penggunaan konsultan tidaklah mutlak. jika kita memiliki orang yang cukup mampu untuk mengorganisasikan kegiatan persiapan dan implementasi, memiliki pemahaman/pengalaman mengimplementasikan bakuan iso 9000 dan punya waktu yang cukup, tentu tidak memerlukan konsultan lagi. dalam kontrak dengan konsultan tersebut, yang perlu dipelajari adalah apakah lingkup kerja yang ditawarkan benar telah menjamin lembaga untuk tercapainya target yang diharapkan; termasuk waktu pencapaian targetnya. sering kali, sebelum konsultan mengajukan penawaran, ia akan datang untuk melihat keadaan lembaga, baik dari segi organisasinya, prosedur kerjanya, seberapa besar beban kerja yang perlu dilakukan, journal the winners, vol. 5 no. 2, september 2004: 79-89 88 maupun tim yang dibentuk oleh lembaga apakah akan menjamin tercapainya tujuan tersebut. bila tingkat kesulitan dirasakan akan berat maka secara otomatis biaya konsultasi akan ditarik relatif lebih mahal, juga target waktu pencapaian akan lebih dipanjangkan. bila dilihat tingkat kesulitan untuk tercapainya target sangat tinggi, konsultan akan cenderung menolak pekerjaan itu dengan segala macam alasannya. assessor iso-9000 dan bentuk sertifikasi yang diperoleh: sgs setiap perusahaan bebas memilih sendiri badan sertifikasi yang diinginkan untuk memproses sertifikasinya. badan sertifikasi harus telah diakreditasi oleh badan registrasi yang berwenang untuk mengeluarkan sertifikat yang mengijinkan perusahaan tersebut untuk menerbitkan sertifikat bagi para pelanggan. badan sertifikasi yang telah di akreditasi itulah yang diberi hak dan pengakuan mengeluarkan sertifikat iso. beberapa hal yang perlu dipertimbangkan dalam memilih badan sertifikasi, yaitu (a) pengakuan internasional; (b) pengalaman badan sertifikasi; (c) kompetensi badan sertifikasi yang dipilih; (c) lokasi perusahaan; (d) bahasa yang digunakan oleh assessor; (e) prosedur kerja badan serifikasi yang bersangkutan; (f) biaya yang harus dibayar. penutup simpulan 1. bakuan proses iso 9000 sangat diperlukan oleh pt untuk memenangkan persaingan yang akan dihadapi pada era globalisasi nanti. 2. bakuan proses iso 9000 akan mempercepat tercapainya tingkat mutu yang diharapkan oleh tujuan pendidikan yang didefinisikan oleh pemerintah, baik melalui peraturan yang ada dan juga yang ditentukan dalam proses akreditasi ban. 3. keluhan yang sering terbaca pada berita di surat kabar yang menyatakan bahwa manajemen pt indonesia dapat dikatakan sangat tertinggal dibandingkan manajemen pt luar negeri akan secara cepat dapat diperbaiki dengan dipakainya bakuan mutu iso 9000 yang bersifat internasional. daftar pustaka peningkatan mutu proses… (th. widia soerjaningsih) 89 boyle, p. and j.a. bowdem. 1997. “educational quality assurance in universities: an enhance model.” assessment and evaluation in higher education. vol. 22, no.2, pp. 111-121. irawan, sonny. 1997. “sertifikasi iso 9000 di perguruan tinggi” universitas bina nusantara menjelang era globalisasi. biro kendali mutu univ. bina nusantara. hlm. 8-10. izadi, m., a.e. kashef, and r.w. stadt. 1996. “quality in higher education: lessons learned from the baldrige award, deming prize, and iso 9000 registration.” journal of individual teacher education, 33(2), pp. 60-76. lundquist, robert. 1997. “quality systems and iso 9000 in higher education,” assessment and evaluation in higher education. vol. 22, no. 2, pp. 159-172. prabowo, h. dan a. tutik. 1997. “sistem manajemen mutu universitas bina nusantara, sebagai antisipasi menghadapi era globalisasi” universitas bina nusantara menjelang era globalisasi. biro kendali mutu universitas bina nusantara. hlm. 11-16. ranuwihardjo, sukadji. 1996. rancangan akreditasi dan jadwal kerja badan akreditasi nasional pt (ban-pt). jakarta: depdiknas, badan akreditasi nasional perguruan tinggi. widia, th. dan j.f.p. luhukay. 1997. “mutu proses perguruan tinggi dan upaya peningkatannya.” universitas bina nusantara menjelang era globalisasi. jakarta: biro kendali mutu universitas bina nusantara. hlm. 5-7. microsoft word 07_nila_edit_seting 58 journal the winners, vol. 13 no. 1, maret 2012: 58-65 enhancing netizen as a digital marketing activity toward strategic branding: a case study of “xyz” brand nila krisnawati hidayat; rudy tobing swiss german university edutown bsdcity, tangerang 15339, indonesia nila.hidayat@sgu.ac.id abstract this study is focused on the role of netizen in digital marketing activities to attempt the development of strategic brand of “xyz”. the purpose of this study to identify whether netizen as users have recognize the “xyz” brand as a product of internet mobile, through four variables of brand performances: delivery message, creative advertisement, product understanding, and brand association. it is also to measure users’ level of awareness to the website of “murah itu xyz”. the research methodology applied in this study is descriptive quantitative study using likert scale. the result shows that the highest level of brand performance is not only from delivery message, but it also indicates that netizen have recognized the “xyz” as internet mobile under the activity of digital marketing. in addition, users are not aware yet to the website of “murah itu xyz”. the content of the mobile advertising should be increased in the near future. keywords: netizen, digital marketing, strategic branding abstrak penelitian ini difokuskan pada peran pengguna internet dalam kegiatan pemasaran digital untuk mengembangkan merek strategis "xyz". tujuan penelitian ini yaitu untuk mengidentifikasi apakah netizen sebagai pengguna harus mengetahui merek "xyz" sebagai produk internet mobile, melalui empat variabel kinerja merek: pengiriman pesan, iklan kreatif, pemahaman produk, dan asosiasi merek. hal ini juga untuk mengukur tingkat kesadaran pengguna kepada website "murah itu xyz". penelitian ini menggunakan metodologi kuantitatif deskriptif dengan skala likert. hasil penelitian menunjukkan bahwa tingkat tertinggi kinerja merek tidak hanya dari pengiriman pesan, tetapi juga menunjukkan bahwa pengguna internet telah mengakui "xyz" sebagai internet mobile di bawah kegiatan pemasaran digital. selain itu, pengguna belum paham betul akan situs "murah itu xyz". dengan demikian, konten iklan mobile harus ditingkatkan dalam waktu dekat. kata kunci: pengguna internet, pemasaran digital, merek strategis enhancing netizen..... (nila krisnawati hidayat; rudy tobing) 59 introduction the prospect of indonesian telecommunications sector in 2012 is predicted to be stable. in fact, intense competition in the business will erode corporate profit margins. five of the largest telecommunication companies in indonesia, namely pt telekomunikasi indonesia tbk (tlkm), pt telkomsel mobile, pt indosat tbk (isat), pt xl axiata tbk (excl) and pt bakrie telecom tbk (btel), will still control 90 percents of the market. transportation and communication sector contributes very significant to the growth of indonesian gdp (faisal basri, 2010). these sectors are rapidly growing near to 80% from the total numbers of indonesian citizen which is 240 million people. potential unfair business competition may be happened among telecommunications operators in indonesia because competition among the 11 operators. however, the indonesian telecommunications regulatory body (brti) implemented a close monitoring to avoid monopoly or cartel tariff practices, for example, operators lowered the tariff too low to attract new customers. align with the decreasing number of telephone and sms use, operators began pinned their hope on the internet data packets. while these data packets internet is a source of the new most profitable revenue, having succeeded in the market-bypass applications by apple and google as the owner of the largest smart phone platform. the biggest income contribution is estimated derived from conversations (voice calls), which up to now still dominates the consumption in indonesia despite the introduction of mobile data such as sms and gprs for about 25-30 percent of its users, as well as various value added services such as content downloads and ring back tone. gprs is general packet radio services which is one of packet oriented mobile data service available to users of the 2g cellular communication systems for global system mobile communications (gsm), as well as in the 3g systems. a gprs connection is established by reference to its access point name (apn). the apn defines the services such as wireless application protocol (wap) access, short message service (sms), multimedia messaging service (mms), and internet communication services such as email and world wide web access. this data will conclude if the use of grps will be categorized as the use of internet access and the growth of people who use gprs categorized the growth of netizen. the number of netizens are for extending social groups, such as giving and receiving viewpoints, furnishing information, fostering the internet as an intellectual and a social resource, and making choices for the self-assembled communities. the use of netizen as intellectual resource can be translated as an activity in formal ways regarding to the product such as sales and marketing process, which is called as digital marketing. the term netizen is derived from the term citizen, referring to a citizen of the internet, or someone who uses networked resources. in the internet-dominated world, information that can be accessed freely and is flowing through a multi-directional network can initiate issues. considering that the internet is used by a variety of people, it should not be surprising that the spread of information in the internet often causes panic attacks. the concept of brand the definition of “brand” based on alexander chernev (2007) is the marketing tool created with purpose of differentiating a company’s offering from the competition and creating value for customer, the company, and its collaborators. on figure 1, brand interaction model is branding activities which primarily has an interest in brand strategy planning in the future. brand model is used as a guide in designing, implementing, and 60 journal the winners, vol. 13 no. 1, maret 2012: 58-65 evaluating the branding activities, including marketing communications. research about the brand needs to begin with modeling of the elements of brand equity to be measured (ike janita dewi , 2009). figure 1. brand interaction model (chandler and owen (2002; 50). the structures to design the brand strategy by kevin lane keller (2003; 560) are: (1) identify the level of brand hierarchy; (2) desire awareness and image at each hierarchy; (3) combining brand element; (4) link it with multiple products; (5) adjust to marketing program and campaign (corporate image campaign and brand line campaign). there are several elements of brand such as brand names, urls, logos, character, slogan, jingles, and packaging. urls is a uniform resouces locator which has a specify location of page on web and is also commonly reffered to domain names. in recent years, as companies clamored for space on web, the number of registered urls has increased dramatically (kevin lane keller, 2008). brand environment and communication a brand operates in an environment which consists of the elements of strategic planning cycle, market structure, cultural factor, customer motivation, and media attention altogether. brand environment is the internal analysis which is essential for gaining an understanding of how global and local brands can shape the brand expression (kogan, 2007). the issue will be business strategy, corporate culture, organizational structure, the brand’s significance to the organization and relationship between global and local brand management teams all play a role in shaping the brand expression. the external analysis findings provide new input for the internal analysis. the analysis of the brand perception, in particular provides starting point for further strategic planning david a. aaker (2001) states that there are four factors influencing the brand equity, such as brand awareness, brand association, brand loyalty, and precieved quality. brand equity is a set of assets and liabilities linked to a brand’s name and symbol that add to or subtract from the value provided by product or service to a firm and/or that firm’s customers. these elements should be actively managed. it should be recognized that their creation or maintenance requires an investment. the people and the system need to be in place so that programs that will damage them can be identified and resisted. brand awareness can be a key strategic asset as well as a sustainable competitive difference. it provides the brand with sense of familiarity. brand awareness also can be a signal of presence, commitment, and substance. brand association is anything that is directly or indirectly linked the customer memory to a brand. the product attributes and customer benefits are the association that have obvious relevance because they provide reasons to buy and thus a basis for brand loyalty. brand loyalty is a prime enduring asset to be installed to the customer by having the programs to generate brand loyalty itself. the competitors may duplicate a product or service, but they still face the task of brand market environment customer’s world brand communication enhancing netizen..... (nila krisnawati hidayat; rudy tobing) 61 making customer switch the brand. brand loyalty can be based on simple habit, preference, or switching cost. the way to build a brand can be done by disseminating better, more insigthful knowledge as well as delivering better, bigger and more sophisticated idea in business (blair et al., 2003). success criterias of a brand are: covers “international” scope (not merely national or regional); adds more value to the experience; based on a strong product foundation, built from an important universal human truth which becomes a binding agent for shared understanding of the brand; achieves multiple connection at various points of contact; manages a consistent style; demostrates a coherence in its marketing association, has a postive and optimistic tone, raises the spirits of its customer, be consistent across borders in the way it delivers the brand experience, takes a leadership position through its action in the marketplace and community, allows people to project something of themselves onto the brand. social network communities the social network service, broadly conceptualized, refers to the ways in which information and communication technologies are use to leverage, articulate, and extend social networks. the growth of social network service has garnered much attention from media and from researchers. currently, the most popular type of social network service is web-based and focused primarily on socializing activities. according to the reports by the pew internet & life project, 93% of teens use the internet and more that half (55%) of all youth use online social networking sites. blogs, which may be compared to online diaries, allow teens to express themselves in an environment free from parents, to explore their own identities, to form virtual relationship. considering the mobile phone as such a relevant technology due to its basic fuctionality as a device is one that emphasizes social connection. mobile devices are social devices which mediate social relationship, social networks and manage the circulation of culture that sustains such network. the social network service for mobile is an application that allow users to share their location and find others in their immidiate or extended social network and broadcast messages. method the purpose of this research is to find out any strong relationship between the emergence of netizen and strategic branding development. therefore, the enhancement of netizen can be a benchmark for them to create marketing activities in an attempt to develop xyz’s brand. the other reason is to identify the familiarity of blog “murah itu xyz” as a media communication within the users and company. the research approach applied in this thesis is a qualitative and inductive descriptive. it is implemented by gathering data from virtual questionaire as well as interviews. the population used for this research are the user of “xyz” brand in indonesia. the number of population is 26 million people and the sample taken are 200 respondences. the profile of netizens which become the sample of our respondents consists of 72,36% is female and 27,64% is male. the range of ages are: 19-23years old (41%), 24-35 years old (38%), >35 years old (21%). from occupation level; university students (14%), employee public sectors (6%), secondary school (16%), high school (37%), university graduate. and based on income per month, 17% have less than rp.1 million income, 38% have rp.1-3 million, and 45% have income more than rp 3 million. 62 journal the winners, vol. 13 no. 1, maret 2012: 58-65 results and discussion the growth of netizen as a part of digital marketing activities the netizen spent a large amount of their time online, utilizing the internet to engage various activities and views the internet as a source of information and for social entertainment purposes. since 2006, netizen population in indonesia have increased tenfold from 1.0% to 10.5% in 2008 (table 1). most of netizens are early adopters of technology, urban citizen and people who are 45 years old or younger. this trend is used by marketers as an effective strategy to approach the youth subculture including media excitement, affinity engagement and role play empowerment. starting from 2007, “xyz” brand is focused more on internet services for its users. it indicates that “xyz” users are the netizens. the growth of netizens are very important for “xyz” since the target markets are youth who are often communicate virtually. table 1netizen population trend year users population % growth gdp 2006 2.000.000 205.264.595 1.0% usd 570 2007 20.000.000 224.481.729 8.3% usd 1.230 2008 25.000.000 232.512.655 10.5% usd 1.925 source: marketing in indonesia, 2010 strategic branding analysis of “xyz” through internet media “xyz” is one of telephone provider from indosat established since 10 years ago as a trendsetter of multimedia mobile in indonesia. “xyz” is one of the products from indosat with the domain section of communication products such as data and voice products. the company operates 16,353 base tranceiver stations (bts) at 31 december 2009, including 2g and 3g btss or added 2,691 btss compared to the same period of last year (indosat.com). the demographic segment of “xyz” is around 14 until 34 years old of customers, with social economic condition b-d, and other criteria such as, students, young house duites, and blue collar workers which categorized as youth. the brand identity of “xyz” or the core demograpy is around 18-22 years old people, with social economic c-d. “xyz” puts their brand to the position statement of cheap, fun, and excitement. the tactical statement of “xyz” are long talk, no interuption, cheap, sms, innovative data, and community benefit. at the end, “xyz” claims their personality as young, fun, and innovative. around year 2008, “xyz” look into the market of internet or netizen who most of them are youth and up to date with technology development (mac jadalhack, 2009). on 2009, “xyz” started to do an online campaign by introducing several packages of internet mobile and telephone service. the packages are: campaign online culture, introducing internet voucher, blackberry prepaid voucher, partnership with online community such as mig33, facebook, and opera, bundling with handset called “hape on line and hape groovy”. enhancing netizen..... (nila krisnawati hidayat; rudy tobing) 63 packet data plays an important role on the increasing of xyz’s revenue which is generated from sms and grps data. based on the interview with “xyz” brand manager, the gprs data derives the biggest part on data revenue equal to 37% (tabel 2). in other words, “xyz” use the development of internet as a media to buzz their revenue. table 2the growth of internet data usage of “xyz” result growth revenue total 7% revenue sms 6% revenue data 46% hit sms 11% traffic gprs (data) 37% users gprs 19 % % gprs users from 22% to be 37% blackberry on demand 49% sales of hape online & groovy 300.000 units xyz shows its development through many achievements obtained from the market. many of its awards won by indosat are around the area of the internet products and service that they provided, mostly after indosat leads not only the voice products but also data products. the awards are; the most potential brand by swa magazine & mars (july 2002), brand with fantastic performance by tabloid marketing (august 2002), the best data services 2009, and other else. thus, the increasing of the revenue and awards of xyz received in 2009 are positive outcome of the branding strategy that they made through various internet data received by the program in indonesian society. analysis to “xyz” brand performance the result shows that the most important factor for respondents in communicating the mobile internet products and services are from the message that they got from the delivery message (3.19 ≤ µ ≤ 3.54). according to the data gathered, “xyz”company uses “endorser” to deliver the message of efficiency in using their internet access. they do so because the message is very important to convey to users so they understand the “xyz” products and internet services provided clearly. it can help the company build their brands to be acknowledged better in the community. considering the target market is the youth, “xyz” conveys the message through the advertisement more effectively with fun tagline and song. it means when respondents think about the good communication of “xyz” product, they will see the message delivery by advertisment at the first. the next important factor according to the respondents is creative advertisement (3.26 ≤ µ ≤ 3.54). the way to presence the advertisement is a second important for the respondents in communicating the product and services of internet mobile. a creative advertisement is an advertisement that can be shown through songs, logo, unique taglines, dan campaign through social websites. through the quistionaires, respondents agree if “xyz” has delivered creative advertisements through social website and unique tagline. furthermore, the respondents agree if the message from the advertisement can be grasped by the receivers and it plays on the third position 3.28 ≤ µ ≤3.52. the receivers agree if the advertisment of “xyz” has delivered a message that can be understand in public. the interval for brand association is 3.34 ≤ µ ≤ 3.37. the brand association can be determined from how famous “xyz” brand in providing good quality of products and services. the respondents agree if xyz is known as an 64 journal the winners, vol. 13 no. 1, maret 2012: 58-65 internet provider with many attractive features and high speed services. in addition, they agree if xyz has discovered more about customer’s behavior through several programs. to determine whether people recognise the internet mobile products from “xyz” is being well distributed by good communication, t-test statistic is used. it is used for the reason that the emergence of netizen is used by “xyz” as a media to create brand startegy so that the internet mobile products become a benchmark of brand “xyz”. a number of qualified samplesis taken to form t-test statistic. the result represents the opinion of 200 respondents. it is necessary to take t-test statistic to conform that the result of the respondents are qualified. hypothesis test: h0 = netizen haven’t recognised “xyz” as a product of internet mobile. (µ ≤ 3) h1 = netizen have recognised “xyz” as a product of internet mobile. ( µ > 3) based on the null hypothesis, this research is one-tail test. it is used since the population of standard deviation is unknown and it is assumed that the population is normally distributed and the number of samples are qualified to form t-test. in conclusion, netizen in jakarta agree if they have recognised “xyz” as a product of internet mobile. it indicates that “xyz” uses the emergence of netizen and internet product as their strategy to build their brand. the analysis of awareness “xyz” users to the blog of “murah itu xyz” based on the interview with “xyz”’s brand manager from 2007 until now, “xyz” focuses more on online culture program through digital socialization such as, facebook, twitter, and website “murah itu xyz”. the “xyz” users are facilitated with the blog made by the company for its users to communicate each other. the blog is called “murah itu xyz”. there are many activities can be done through this blog such as, game, information sharing about celebrity, “xyz” promotion programs, photo upload, and other im activities to many school. since this blog can only be used by “xyz” users, this research would like to analyze the awareness of “xyz” users in jakarta to this facility. there are four factors of awareness, such as familiarity of the product, presence of the product, commitment to the product, and substance of the product. an analysis is done based on the quistionaire with six questions about awareness of “xyz” users to the blog “murah itu xyz”. from 200 quistionnaires that have been distributed, 72 people (36%) use “xyz” as their handphone provider. the factors about awareness are assessed with confidence interval of “xyz” users to the website “murah itu xyz”. poin 1 means strongly not agree and point 5 means strongly agree. from the source taken, some users are categorized not so familiar with the blog "murah itu xyz". however, the other part of users are familiar with the existence of the blog (2.72 ≤ µ ≤ 3.34). the blog “murah itu xyz” also does well presented since the result gathered is (2.19 ≤ µ ≤ 2.77). many users of “xyz” did not know if there is a blog facilitated for “xyz” users called blog “murah itu xyz” that can provides benefits for them to communicate each other. if so, they will be interested in joining as a member of that blog. that is why the result of commitment to blog “murah itu xyz” categorized as high (3.26 ≤ µ ≤ 3.87). since many users do not know the presence of blog, they did not know how to operate the blog and do not know the features inside. the substance of the blog is from 2.50 ≤ µ ≤ 2.99. this is a low point that shows us if the users of “xyz” did not agree of the substance of blog “murah itu xyz”. the respondent from “xyz” users agree if they have ever heard abouth the blog “murah itu xyz”, but they do not know if it is a facility provided by “xyz” for its customers. enhancing netizen..... (nila krisnawati hidayat; rudy tobing) 65 that is why they do not know the substance of blog “murah itu xyz”; such as the features, how to use the blog, and so on. hypothesis test: h0 = respondents are not aware to the blog “murah itu “xyz””. (µ ≤ 3) h1 = respondents are aware to the blog “murah itu “xyz””( µ > 3) based on the null hypothesis, this research is one-tail test. it is used since the population of standard deviation is unknown and it is assumed that the population is normally distributed and the number of samples qualified to form t-test. conclusion in conclusion, many users of “xyz” are not aware to the blog “murah itu xyz” as their facility to communicate each other virtually. some users of “xyz” have ever heard about blog “murah itu xyz” but they do not know in detail the features and services given. in addition, facing the tough competition in communication business, it is a must for “xyz” to always keep up with new stategy and innovative products and services. therefore, any active effort to connect and communicate to netizen will be necessary through media so that they are familiar to interact with. references aaker, david. a. (2004). brand portfolio strategy. new york: simon & schuster. blair, m., armstrong, r., murphy, m. 2003, the 360 degree brand in asia. new jersey: john willey & sons. chernev, alexander. (2007). strategic marketing analysis. london: brightstar media. dewi, ike janita. (2009). creating and sustaining brand equity. yogyakarta: amara books. jadalhack, mac. leaders in mobile internet. retrieved 30 september 2009 from http://www.pocketberry.com/2009/09/30/blackberry-beats-the-iphone-in-indonesia/. keller, kevin lane. (2003). strategic brand management. kogan, konstantin. (2007). supply chain management. springscience. swa magazine and mars. (2002). the most potential brand. jakarta: swa magazine. tabloid marketing. (august, 2002). brand with fantastic performance. jakarta: tabloid marketing microsoft word 05_mn_nathania-harjanto-annetta-a2t 120  journal the winners, vol. 16 no. 2, september 2015: 120-130 enhancing brand loyalty by increasing experiential value through customer satisfaction in boka buka restaurant pondok indah mall nathania gunawan1; harjanto prabowo2; annetta gunawan3 1,2,3 school of business management, binus university, jakarta jln. k.h. syahdan no. 9, palmerah, jakarta barat 11480 2hprabowo@binus.edu; 3angunawan@binus.edu abstract this research was conducted at boka buka restaurant. boka buka restaurant is a casual french dining restaurant in pondok indah mall. the objectives of the research are to examine if the experiential value contributes to customer satisfaction in boka buka restaurant and to examine if the experiential value and customer satisfaction contributes partially and simultaneously to brand loyalty in boka buka restaurant. the methods of the research are pearson correlation and path analysis. the data is obtained from the questionnaires which are distributed to the customers at boka buka restaurant to measure the level of the experiential value, customer satisfaction, and brand loyalty, using a likert scale. from the analysis of the data, it obtains structural equation y = 0.812x + 0.5839ε1 where experiential value contributes significantly to customer satisfaction of 65.9% and z = 0.255x + 0.582y + 0.5958ε2 where experiential value and customer satisfaction simultaneously contribute significantly to the brand loyalty of 64.5%. keywords: experiential value, customer satisfaction, brand loyalty abstrak penelitian ini dilakukan di boka buka restaurant, yang merupakan sebuah restoran prancis kasual yang terletak di pondok indah mall. tujuan dari penelitian ini adalah untuk menguji apakah experiential value memiliki kontribusi terhadap customer satisfaction pada boka buka restaurant. selain itu untuk menguji apakah experiential value dan customer satisfaction memiliki kontribusi terhadap brand loyalty, baik secara parsial maupun simultan pada boka buka restaurant. metode dalam penelitian ini adalah pearson correlation dan path analysis. data penelitian diperoleh dari kuesioner yang disebarkan kepada para pelanggan boka buka restaurant, untuk mengukur tingkat experiential value, customer satisfaction, dan brand loyalty, menggunakan skala likert. dari hasil analisis data yang ada, diperoleh persamaan struktural y = 0.812x + 0.5839ε1 di mana experiential value berkontribusi secara signifikan kepada customer satisfaction sebesar 65.9 % dan z = 0.255x + 0.582y + 0.5958ε2 di mana experiential value dan customer satisfaction secara simultan berkontribusi signifikan brand loyalty sebesar 64.5%. kata kunci: experiential value, customer satisfaction, brand loyalty enhancing brand loyalty …… (nathania gunawan; dkk) 121  introduction indonesia is urbanized rapidly, which is leading to mix of many traditions. it is also exposing consumers to try international taste and trend. some of the companies in an urban city like jakarta take this opportunity to open international restaurants. french restaurants in jakarta have developed in few years and have become a new destination of indonesian. french restaurants such as boka buka, coquelicot le bistro, cafe bon francais, riva, java bleu, lyon, rendezvousdoux, and cassis, try to attract the customers by offering high quality food and service. these restaurants also give consumers the experience in eating french food. the promising future in food and beverages industry causes the competition among the companies become more intense. the growth of this sector was caused by increased spending on food as big as 47,71% in 2012. national nutrition strategy by fao (2013) shows that average of daily per capita energy consumption with prepared food is 1.865calories. and it is bigger than the average of daily per capita energy consumption without prepared food 1.599,63 calories. intense competition between local and international companies forces every restaurant to develop their market strategy in order to compete in the fierce market. for example, french restaurants which have a niche market target, they have to gain the customers’ loyalty to keep their companies still running. market segments are large customer group in a market. a niche is a more narrowly defined customer group, that products or services tailored especially to the individual needs and preferences (havaldar, 2010). companies are always trying to create niche in the market by constructing their own base of loyal customers, who over the period have accepted the product whole-heartedly. these brand loyalists would spend their money devotedly to acquire the particular product. brand loyalty is essential for the product to create its own niche (agrawal & siddharth, 2010). evans and lindsay (1996 as cited in mohsan, 2011) stated, “companies with satisfied customers have a good opportunity to convert them into loyal customers who purchases from those companies over an extended time period”. hill et.al (2007) also agreed that to reap full benefits of customer loyalty, companies need to make customers highly satisfied. furthermore, kabiraj and shamugan (2011) proposed that if consumers have been satisfied with the promoted brand, their satisfaction reinforces and leads to an increase in the probability of choosing the brand again. achieving customer satisfaction is a major goal of marketing efforts. these efforts lead to purchase and/or consumption and in turn result in post-purchase phenomena such as attitude change, repeat purchase, and brand loyalty (lee & shin, 2010). grigoroudis and siskos (2010) conclude that satisfaction is a standard of how the offered total product or service fulfils customer expectations. under a specific consumption setting, it frequently influences the overall attitude and decision-making when customers purchase products or service. holbrook & hirschman (1982 as cited in wang & lin, 2010) stated, “experiential value is an experience that does not exist in the products purchased, on chosen brands, nor on the ownership of products, but in the process of consuming experience”. mathwick, et.al (2001 as cited in line, 2012) stated, “current marketing literature highlights the importance of the service experience, suggesting that service providers must not only create a theatrical environment (providing fun, excitement, and entertainment), but also must encourage customers to participate in the service experience”. slater stated that creating superior customer value is a key to a company’s long-term survival and success (as cited in woodside, et al, 2008). if business managers can find factors that affect customers' satisfaction toward products or services, business may change customers' experiential when using product value or services and let customers obtain maximum satisfaction. this is in line with what datta and vasantha (2013) stated that experiential value leads customer satisfaction, while the experiential value and customer satisfaction together will make a loyal customer. considering the 122  journal the winners, vol. 16 no. 2, september 2015: 120-130 dynamic marketing environment and fierce competition, brand loyalty as core dimension of brand equity, is essential for any company that plans to maintain long-term competitive advantages and commercial performance (moisescu, et.al, 2010). one of french restaurants named boka buka, which is located in south jakarta, is a restaurant that made an innovation in its service and created experiential value to its customers. boka buka carried a concept to be the only one french restaurant whose price is relatively much cheaper than other restaurants. boka buka knows that it can’t compete with the fine dining french restaurants in jakarta, instead the owner made a restaurant with home cooking concept. boka buka has been planning on expanding its wings by offering franchise to the franchisees in indonesia. it means that people will be used to french food in indonesia. many people will look at this opportunity and can imitate boka buka’s concept in the future. boka buka began its journey on 2002 in cipete and opened another branch in pondok indah mall in may 2013. since then, many competitors tried to follow the concept and market. for example, coquelicot le bistro in 2007 brought same home-made food concept, decoration, and target same market with boka buka. they even opened their restaurant near boka buka in cipete. another example is oh lala cafe which suddenly changed its concept and name became cafe bon francais in februari 2010. cafe bon francais brought a concept of paris cafe and tried to attract the customers by offering french atmosphere with cheap french food. this is the main reason why boka buka needs customer loyalty to overcome the problem. based on the background explained above, the research objectives to be achieved are: (1) to examine if the experiential value contributes to customer satisfaction in boka buka restaurant; (2) to examine if the experiential value and customer satisfaction contributes partially and simultaneously to brand loyalty in boka buka restaurant; (3)to examine if the customer satisfaction mediates between experiential value and brand loyalty in boka buka restaurant. method the research design of this research is showed at table 1 below: table 1 research design objective of the research research design types of research unit analysis time horizon o-1 associative / descriptive individual customer cross-sectional o-2 associative / descriptive individual customer cross-sectional o-3 associative / descriptive individual customer cross-sectional to complete this research, path analysis will be used to determine the influence of independent variables to the dependent variable, both directly and indirectly through mediating variable. table 2 below shows the operationalization of variables used in this research. enhancing brand loyalty …… (nathania gunawan; dkk) 123  table 2 operationalization of variables variable dimension indicator size scale experiential value x (park & cha, 2011) food quality  the food is tasty  the food is healthy ordinal likert service excellence  the willingness of servers to help the customers  the knowledge of servers about the menu ordinal likert aesthetics  the attractiveness of interior design  the ambience of the restaurant ordinal likert playfulness  an enjoyment for dining in the restaurant  customer’s destination to escape from their routine ordinal likert customer satisfaction y (supranata & iskandar, 2013; harr, 2008) reliability  availability of menu variant  promptness in serving  the serving conformity with the menu ordered  menu pricing  the amenities in payment ordinal likert assurance  waiters’ hospitality in serving the customers  waiters’ politeness  waiters’ product knowledge about the ingredients of the food  waiter’s ability to recommend food from the menu  waiters’ knowledge on restaurant facilities ordinal likert tangible  the restaurant’s decoration  the appearance of dinner set  the appearance of uniform of the staff  the appearance of menu book  the environmental hygiene at the restaurant ordinal likert empathy  concern toward the service failure  the service recovery  fulfillment of customer’s special requirements ordinal likert responsiveness  promptness in dealing with customer’s requests  promptness in dealing with customer’s questions  promptness in dealing with customer’s complaints ordinal likert brand loyalty z (lee, et.al, 2010) loyalty in attitude  willingness to do repeat dining for a specific restaurant ordinal likert tolerance to price  allows increased premium price ordinal likert continuous purchase  use the restaurant as the first choice compared to other restaurants ordinal likert recommendation behavior  recommend the restaurant to others ordinal likert sampling technique in this research will use probability sampling, because every customer of boka buka restaurant has the same probability to be selected as sample of this research. number of sample can be calculated as below: n = n (1) n.d2 + 1 2.200 = 95.65 respondents 2.200 x (0.1)2 + 1 124  journal the winners, vol. 16 no. 2, september 2015: 120-130 based on the calculation above, the samples taken for the questionnaire are 95.65 respondents, which can be rounded up into 96 respondents. so, 150 people will be used as samples in order to achieve the purpose of this research. but, only 108 respondents who were eligible to be analyzed. they are chosen because of the frequency of visit to the restaurant is more than two times. to complete this research, there are some analyses that will be done, they are validity and reliability test, normality test, correlation test, and path analysis. results and discussion validity, reliability, and normality test from the result of validity test using a 90% confidence level, all the questions that distributed through questionnaire are valid. all the questions that represent each variable from experiential value, customer satisfaction, and brand loyalty are valid because the value of corrected item total correlation > value of r table (0.13). from the reliability test, the result shows that all variables which are experiential value, customer satisfaction, and brand loyalty are reliable because all the value of cronbach’s alpha from each variable > 0.6. then, from the normality test, it is also obtained that all variables used in this research are normally distributed, with sig value 0.105 (experiential value), 0.200 (customer satisfaction), and 0.200 (brand loyalty). correlation test correlation test is used to determine the characteristic of relationship between independent variables and dependent variable. in this test, it will determine the relationship experiential value, customer satisfaction, and brand loyalty. in addition, the standard interpretation range of correlation is mentioned below (riduwan & kuncoro, 2007):  0,00 – 0,199: very weak  0,20 – 0,399: weak  0,40 – 0,599: quite strong  0,60 – 0,799: strong  0,80 – 1,000: very strong from spss software, it’s found the result as table 3 below: table 3 characteristic of correlations relationship between correlation characteristic of relationship x with y 0.812 very strong, direct, and significant x with z 0.727 strong, direct, and significant y with z 0.789 strong, direct, and significant enhancing brand loyalty …… (nathania gunawan; dkk) 125  path analysis individually 1. variable expriential value to customer satisfaction table 4 influence of experiential value to customer satisfaction (source: the researcher (2014)) sig = 0.000 < 0.1, then ho is rejected and ha accepted, which means experiential value (x) contributes significantly to customer satisfaction (y) in boka buka restaurant. the magnitude of the effect of variables x to variable y can be determined by looking at the r-square values in table 4.20, where the value of r2 = 0.659 = 65.9% thus, 65.9% of the value of the variable y is influenced by variables x, while the remaining 34.1% is influenced by other variables outside of this study. meanwhile, the magnitude of the path coefficients for other variables beyond the variables that affect the value of research is below: y (ρy) = 21 r = 659.01 = 0.5839 (2) the value of r (correlation coefficient) is found to be 0.812. this means that the relationship between the independent variables x together with the dependent variable y is strong (because the value of r is greater than 0.3) and goes in the same direction (because the value of r is positive). 126  journal the winners, vol. 16 no. 2, september 2015: 120-130 2. variable expriential value to brand loyalty table 5 influence of experiential value and customer satisfaction to brand loyalty sig = 0.012 < 0.1, then ho is rejected and ha is accepted. so, experiential value (x) contributes significantly to brand loyalty (z) in boka buka restaurant. any increase in the value of experiential value (x) by one, then the brand loyalty (z) will increase by 0.255. vice versa, any decline in experiential value (x) by one, then brand loyalty (z) will also decrease by 0.255, as seen in table 5. 3. variable customer satisfaction to brand loyalty based on table 5, sig = 0.000 < 0.1, then ho is rejected and ha is accepted. so, customer satisfaction (y) contributes significantly to brand loyalty (z) in boka buka restaurant. any increase in the value of customer satisfaction (y) by one, then the brand loyalty (z) will increase by 0.582. vice versa, any decline in customer satisfaction (y) by one, then brand loyalty (z) will also decrease by 0.582. path analysis simultaneously still referring to the table 5, sig = 0.000 < 0.1, then ho is rejected and ha is accepted. so, experiential value (x) and customer satisfaction (y) contribute simultaneously and significantly to brand loyalty (z) in boka buka restaurant. enhancing brand loyalty …… (nathania gunawan; dkk) 127  the magnitude of the effect of variables x and y simultaneously to variable z can be determined by looking at the r-square values in table 5, where the value of r2 = 0.645 = 64.5% thus, 64.5% of the value of the variable z is influenced by variables x and y, while the remaining 35.5% is influenced by other variables outside of this study. meanwhile, the magnitude of the path coefficients for other variables beyond the variables that affect the value of research is below: y (ρy) = 21 r = 645.01 = 0.5958 still referring to table 4, the value of r (correlation coefficient) is found to be 0.803. this means that the relationship between the independent variables x together with the dependent variable y is strong (because the value of r is greater than 0.3) and goes in the same direction (because the value of r is positive). so the overall causal effect of the experiential value (x) on customer satisfaction (y) and its impact on brand loyalty (z) can be described in a model of the complete structure as figure 1below: figure 1 causal effect of x and y to z then the whole path coefficients of a causal relationship can determine direct causal effect, indirect causal effect, and total causal effect of each variable. the results are summarized in table 6 below: table 6 summary of empirical causal relationship between variable x, y, and z variable path coefficient causal effect overall effect direct to z indirect through y total x 0.255 0.255 0.473 0.728 y 0.582 0.582 0.582 ε1 0.5839 0.5839 2 = 0.3409 ε2 0.5958 0.5958 2 = 0.355 x to y 0.659 x and y to z 0.645 0.5839 x y 0.812 z 0.582 0.255 y 128  journal the winners, vol. 16 no. 2, september 2015: 120-130 conclusion the condition of experiential value in boka buka is good, with the average score of 4.1274. food quality in boka buka got the lowest average score of 3.81, with the category is good. service excellence is also good, which is 4.15. score of aesthetics in boka buka is 4.04, so the aesthetics is good. playfulness in boka buka got the highest average score of 4.19. meanwhile, the condition of customer satisfaction in boka buka is good, with the average score of 3.5359. reliability in boka buka is good with the score of 3.53. then, assurance got the highest average score of 3.56, which is also good. tangible is in good category, which is scored 3.53. empahy got the lowest score of 3.47, with good category. responsiveness is also in good category with the score of 3.54. then, the condition of brand loyalty in boka buka is good, with the average score of 3.3441. loyalty in attitude got the highest average score of 3.59, which is good. the tolerance to price got the lowest average score, with the score of 3.25, and in sufficient category. continuous purchase is also good and get the score of 3.33. finally, the recommendation behaviour of the customers of boka buka is good, with the score of 3.47. experiential value has a positive and significant contribution to customer satisfaction at boka buka, with strong influence by 65.9%. experiential value also has a very strong relationship with customer satisfaction, which is 0.812. experiential value and customer satisfaction simultaneously contribute significantly to brand loyalty by 64.5%. where experiential value contributes positively and significantly to brand loyalty by 6.5% with a strong relationship, which is 0.727. customer satisfaction contributes positively and significantly to brand loyalty by 33.87% with a strong relationship, which is 0.789. experiential value has indirect influence to brand loyalty through customer satisfaction at 0.4732 x 100 % = 22.37%. while experiential value has direct influence to brand loyalty at at 0.2552 x 100% = 6.5%. experiential value has bigger contribution to brand loyalty when it is mediated by customer satisfaction. so, customer satisfaction is a mediating variable between experiential value and brand loyalty. in some point, boka buka has deficiency and there are some suggestions for them. the quality of food in experiential value should be given more attention, regarding the health and the taste of food in boka buka got the lowest score. it means that the customers also set high standard for the taste of food they ordered. boka buka can give more variety to the menu, especially healthy choices of food and drinks. healthy ingredients should be added as the ingredients of the food offered to the customers, like vegetables, fat free meat, and olive oil. drinks and desserts that contain low-fat milk or fruits will also add healthy choices to the menu. besides that, boka buka should understand the taste that the customers prefer. asking their feedback about the food is one of the way to keep it as a suggestion to improve. the empathy in customer satisfaction is the dimension that got the lowest average score among the five dimensions, especially the concern toward service failure. boka buka has to fix the attitude of its employees and increase their sense of empathy to apologize to the customers whenever they made mistakes. boka buka can train the restaurant's manager how to recover the failure made to the customers, so that the waiters will learn and immitate it. the other way is by putting the name of the customers into boka buka's system and guarantee them if the next time the waiters make a failure to them again, the food they ordered are free. boka buka has to increase the accuracy of service given enhancing brand loyalty …… (nathania gunawan; dkk) 129  to the customers, so the mistakes done can be reduced. then, regarding low total score of fulfillment of customer’s special requirements, boka buka also can accept special request of the menu, as long as it doesn't change the main idea of the menu itself. after dining, the customers can be given a tablet and make an account for themselves, which are listed as boka buka's customers, to give their request the next time they dine at boka buka. the customers can also give their feedback about the service and food they experience at the moment. this will increase the satisfaction of the customers, which will lead to the increase of brand loyalty. perform analysis and develop against other factors that may affect the customer satisfaction and brand loyalty, which can be done through further research. it is because experiential value affects customer satisfaction only for 65.9%, thus there are more factors that influence customer satisfaction as much as 34.1%. moreover, experiential value and customer satisfaction influence brand loyalty for only 64.5%, so there are 35.5% more other factors that influence brand loyalty. references agrawal, a., & s, s. (2010). retaining brand loyalty. copperbridge media. datta, v., & vasantha, s. (2013). experiential value, customer satisfaction, and customer loyalty: an empirical study of kfc in chennai. indian journal of applied research. fao. (2013). national nutrition strategy. 2nd international conference on nutrition. grigoroudis, e., & siskos, y. (2010). customer satisfaction evaluation: methods for measuring and implementing service quality. new york: springer. harr, k. k. (2008). service dimensions of service quality impacting customer satisfaction of fine dining restaurants in singapore. unlv theses. havaldar. (2010). business marketing: text & cases, 3e. new delhi: tata mcgraw-hill education. hill, n., roche, g., & allen, r. (2007). customer satisfaction: the customer experience through the customer's eyes. london: cogent publishing. kabiraj, s., & shanmugan, j. (2011). development of a conceptual framework for brand loyalty: a euro-mediterranean perspective. journal of brand management, vol. 18. lee, s., shin, h., park, j. j., & kwon, o. r. (2010). a brand loyalty model utilizing team identification and customer satisfaction in the licensed sports product industry. ichper-sd journal of research, vol. 5, no.1, line, n. (2012). experiential value, relationship quality, and customer loyalty in full-service restaurants: the moderating role of gender. journal of hospitality marketing & management. mohsan, faizan, muhammad musarrat nawaz., et al. (2011). impact of customer satisfaction on customer loyalty and intentions to switch: evidence from banking sector of pakistan. international journal of business and social science, vol 2, no.16. 130  journal the winners, vol. 16 no. 2, september 2015: 120-130 moisescu, o. i., & allen, b. (2010). the relationship between the dimensions of brand loyalty. management & marketing challenges for knowledge society, vol.5, no.4. park, h., & cha, j. (2011). identifying perceived attributes of japanese restaurants. the school of hospitality business, 2. riduwan., & kuncoro, e. a. (2007). cara menggunakan dan memaknai analisis jalur. bandung: alfabeta. supranata, h., & iskandar, b. p. (2013). evaluation of customer satisfaction using service quality dimension at d'seuhah da lada restaurant. journal of business and management, 5. wang, c. y., & lin, c. h. (2010). a study of the effect of tv drama on relationships among tourists’ experiential marketing, experiential value and satisfaction. international journal of organizational innovation, vol. 2. no.3 woodside, a. g., golfetto, f., & gibbert, m. (2008). creating and managing superior customer value. uk: emerald group publishing limited. microsoft word 04_ak_kriswanto_rev2 share price analyst with pbv …… (kriswanto) 113  share price analyst with pbv, der, and eps at initial public offering kriswanto accounting department, faculty of economic and comunication, bina nusantara university jln. k.h. syahdan no 9, palmerah, jakarta barat, 11480 kriswanto@binus.ac.id / cwanto@yahoo.com abstract underpricing and overpricing are commonly happened in stocks market. underpricing happened when ipo pricing was lower than closing price in the first day stock been trade in the market. there were some measurements to be used, like price to book value (pbv), price earning ratio (per), earning per share (eps), debt to equity ratio (der), net profit margin (npm), size of company (size) and company age (age). the type of research was quantitative with a comparative analysis which focused on the study of literature to support research by describing theories related to the title of the study, data collection of financial statements, and annual reports of companies going public as well as fact book published. this article used data from 78 companies that did ipo in 2010 to 2013. this research finds that some statistic used to show majority variables that influence to underpricing is pbv, per, der, and size. keyword: ipo (initial public offering), underpricing, pbv, per, der introduction the problem faced by the company when performing ipo in the capital market is the determination of the initial offering price. the companies want to implement a high selling price in order to gain acceptance of proceeds (proceeds) that is also high, on the other hand, the high share price influences investors to buy the shares. the high prices cause investors who want to buy the shares become low and great possibilities to offer shares become less attractive because investors want to get the initial return from the difference between the stock prices on the secondary market with the purchase of shares on the primary market. so these conditions are not favorable for issuers, as issuers have to sacrifice returns that should be obtained. their initial returns indicate the phenomenon of underpricing in the primary market. researches on the level of underpricing and stock prices are linked to information in the prospectus. it is exciting for researchers to evaluate the behavior of financial investors in making investment decisions in the stock market. previous research on initial returns or underpricing has done well in overseas stock exchanges as well as indonesia. although the study of underpricing has been conducted, research in this area is still considered interesting to study because of the inconsistency of research results. to analyze pricing mostly uses pbv (price to book value), per (price earnings ratio), and der (debt to equity ratio) as primary tools and others uses as secondary tools. based on the background that has been outlined, this research uses internal influence in measuring the level of underpricing. so that the formulation of the research problems are (1) what is the pbv affect underpricing when the initial public offering? (2) what is the per affect underpricing when the initial public offering? (3) eps affect underpricing when the initial public offering? (4) is the der affect underpricing when the initial public offering? (5) is the npm affect underpricing 114 journal the winners, vol. 17 no. 2, september 2016: 113-123  when the initial public offering? (6) does firm size affect underpricing when the initial public offering? (7) does the company age affect underpricing when the initial public offering? to avoid broader discussion, the writer gives a limit on pbv, per, eps, der, npm, size, and the age to the company that went public in 2010 and 2013 on the indonesia stock exchange (bei). based on the formulation of the problems, the purpose of this research is to determine the influence of pbv, per, eps, der, npm, firm size (size), and age company (age), the pricing at the time of the initial public offering. from this research, it is expected to get benefits, such as (1) for prospective listed companies, this research can be used as the material for consideration prior to the ipo, namely by looking at the factors that affect underpricing. (2) for investors and prospective investors, this research can be used as a reference before making the investment decisions; investors should pay attention to the factors that reflect the value and condition of the company at the time of the ipo. (3) for academics or readers, this research can be useful to add insight and knowledge theoretically also practical experience in developing further research. methods this research is conducted to determine the effect of pbv, per, eps, der, npm, size, and age on underpricing when the initial pricing offering. the characteristics of this study consist of (1) the type of research is quantitative with a comparative analysis which focuses on the study of literature to support research by describing theories related to the title of the study, data collection of financial statements, and annual reports of companies going public as well as fact book published. (2) the dimension of time study is based on a time sequence or time series from the period 2010 to 2013. (3) the data used in this research is secondary data that the company's financial statements are obtained from the official website of the indonesian stock exchange in www.idx.co.id, indonesia capital market directory (icmd), as well as the official website fact book that related to the companies in 2010-2013. (4) data analysis is performed by regression analysis model, the partial test (t-test), simultaneous testing (test f), and the coefficient of determination (r2). the writer realizes that this research can be said to be far from perfect compared to other similar studies. the limitations of this study include (1) a sample of this study only has four periods from years 2010 to 2012. so it is likely less representative samples processed. (2) the variables that are used only variable internal factors and it is not using external factors. (3) the number of samples and variables used for research still lacks a lot. stocks are a piece of paper that is stating the ownership of part of the company. types of shares are bought and sold are common stock and preferred stock. according to gitman (2009), common stock is a form of pure, simple, and the most basic of ownership of the company. meanwhile, according to mishkin (2001), common stocks are securities that are claims on the income and assets of the company. while according to gitman (2009), preferred stock is a special form of ownership that has a fixed periodic dividend that must be paid before the payment of common stock dividends. advantages and disadvantages of going public are the company's decision to offer its effect to the public should consider several factors advantages and disadvantages. the advantages of going public are ease of raising capital in the future, increase liquidity for shareholders, the market value of companies known (jogiyanto, 2000). share price analyst with pbv …… (kriswanto) 115  underpricing is a state where the first day's closing stock price has a value higher than the initial price of the shares offered by the company. while overpricing is a state where the first day's closing stock price has a value lower than the initial price of the shares offered by the company. the determination of the initial return is underpricing or overpricing obtained by the following calculation:                      (1)  closing price = first day stock price in the secondary market offering price = stock price offered before ipo pbv focuses on the company's equity, and it is the company's internal factors. pbv is defined as the market price of a stock that divided by its book value (bv). pbv also shows how far the company is able to create value for the company. companies that go well generally have pbv above 1, which shows the market value is higher than its book value. the higher the return, the higher pbv stocks that will increase the company's revenue and boost the company's ability to distribute dividends (gitman, 2009). pbv can also be used to determine the price of the stock by comparing the pbv of companies with an average pbv in the same industry sector and multiplied by the price at the time of the ipo. p (2) per is used by various parties or investors to buy shares. investors will buy a sham company with a high price-earnings ratio, due to the high price-earnings ratio illustrates the net income per share is quite high (gitman, 2009). (3) eps is the amount of profit that earned and available to all shares of common stock outstanding. eps value has become one of the main factors that considered by the investor when to invest in a company. the higher the eps value, the better the company's value for investors (gitman, 2009). (4) der is the ratio used to determine the amount of funding that provided by the borrower (creditor) with the owner of the company or to find any rupiah own capital is used to guarantee the debt (gitman, 2009). (5) npm is the amount of net income from the company on any income or sales that occurred. npm is obtained by comparing the profit after interest and taxes with sales (gitman, 2009). (6) the size of the company is represented by the total assets that owned by the company. the larger the scale of the company, the more people who know that the information obtained by the investor. it will be greater and the uncertainty in the future is lower (gitman, 2009). 116 journal the winners, vol. 17 no. 2, september 2016: 113-123  ∑ (7) the relationship between dependent and independent variables influence of pbv on the level of underpricing when the ipo. pbv is a benchmark to see the reasonableness of the price of shares on the primary market (ipos) or the chances of initial return. if the position of the stock price is below its book value, there is a tendency of the stock price will go to the balance at least equal to its book value. this means that the share price is greater potential to rise. therefore, the greater the value pbv will reduce underpricing, consequently the lower the returns to be received by investors. per has the influence on the level of underpricing in the initial public offering (tian, 2012). price earnings ratio information indicates the amount of rupiah that must be paid investors to obtain the rupiah earnings. for investors, the ratio of share price to net income is useful in assessing the investment potential of a company. the investors can use the price earnings ratio in formulating whether to invest or not to their company. investors can also use the price earnings ratio as an indicator of how the company set the price of the stock. theoretically, price earnings ratio is an indicator that can be used to determine whether the stock price is overvalued or too low (undervalued), so that the (potential) investors can determine when to buy or sell the stock price. by assumption, the lower the price earnings ratio means that the cost price of the stock concerned or the lower under pricing, and vice versa. there is the effect of earnings per share on the level underpricing when the initial public offering (handayani, 2008). variable earnings per share is a proxy for earnings per share of companies that are expected to provide an overview for investors on the part of the benefits that can be obtained in a period. earnings per share companies are increasingly high that it will be more investors willing to buy the shares causing the stock price in the secondary market to be high. the current high share price in the secondary market can increase the level of underpricing. while there is also the effect of der on the level underpricing when the initial public offering (handayani, 2008). debt to equity ratio indicates the risk of a company that has an impact on price uncertainty. debt to equity ratio indicates the company's ability to pay the debt to equity owned. an investor who invests in securities can not only see the trend of stock prices alone. the performance of the company will remain as the base and at the same starting point ratings. if the level of debt to equity ratio demonstrates high financial risk or risk the company's failure to repay the loan will be higher, and vice versa. therefore, the higher the company's debt to equity ratio, then the initial return greater. net profit margin gives effect on the level underpricing when the initial public offering (lestari, 2013). the highnet profit margin can minimize the level of underpricing for underwriters that are sure to sell shares at high prices and assure all of the shares offered are sold. the higher net profit margin a company will reduce uncertainty for investors that would reduce the level of underpricing. this means that the investor gets a lower initial return, in other words, investors will buy lower shares in companies that do an ipo underpricing because of low stock. there is the influence on the level company size underpricing when initial public offering (kim et al., 2004). companies with large-scale are known to the public than a company with a smaller scale. therefore, the information about a company with a large scale is more outstanding than a company with a small scale. if the information in the hands of many investors, the level of investor uncertainty about the future of the company can be known. thus large-scale companies have lower levels of underpricing of small-scale companies. and there is the effect of age company on the level underpricing when the initial public offering (kim et al., 2004). the age of firm also shows that the right information can be obtained by prospective investors. companies that have long stood in normal conditions would not spend more share price analyst with pbv …… (kriswanto) 117  than the publication of a new company. in the context of long-term assessment, the company's longstanding reputation in the past has already been seen. therefore, if there is not something that is the extraordinary condition of the company, it can be used to predict the state of the future. if the company is long enough to operate safely, then, in general, it can be said that the investor can choose the company with a low level of risk, due to the uncertainty of the small companies in the past. results and discussions calculation of independent variables analysis of price to book value (pbv) before calculating the pbv, it must be known beforehand bv value of the company. for example, note the total equity of pt sido appears rp 2.625.456.000.000 with the total outstanding share 15.000.000.000 sheets, the stock price of rp580 / share. here are the sample results of pbv calculation: bv = total equity / outstanding share = rp2.625.456.000.000 / 15.000.000.000 sheets = usd 175 pbv = price / bv = usd 580 / usd 175 = 3,31 if the value of eps is unknown, then it must be calculated first that followed by calculating per. for example, it is known the price of the shares of pt sido appears usd 580 / share and eps is 27,06. then the calculation is as follows: per = market price / eps = usd 580 / 27,06 = 21,43 the example of analysis of eps ispt sido appears net income of rp405.943.000.000 and 15.000.000.000 of total shares outstanding pieces, then the calculation is as follows: eps = net income / outstanding share = rp405.943.000.000 / 15.000.000.000 sheets = 27,06 the example analysis of der is pt sido appears total liabilities are amounted to rp326.051.000.000 and total equity of rp2.625.456.000.000. then the calculation is as follows: der = total liabilities / total equity = rp326.051.000.000 / rp2.625.456.000.000 = 0,12 the example of analysis npm is pt sido appears net income of rp405.943.000.000 and net sales amounted to rp2.372.364.000.000. then the calculation is as follows: npm = net income / netsales = rp405.943.000.000 / rp2.372.364.000.000 = 0,17 the example of analysis company size (size) is the total assets of pt sido appear is rp2.951.507.000.000, then the calculation by way of a neutral logarithm of the total assets that generate size of 28,71. while the example of analysis company age (age) is pt sido appears ipo date is december 18, 2013, and the date of the establishment is march 18, 1975, the age is rounded to 39 years. 118 journal the winners, vol. 17 no. 2, september 2016: 113-123  the example of analysis calculation on dependent variables is the share price of pt sido appears ipo is usd 580 and the closing price on the first day of secondary market is usd 700. so the calculation is as follows: initial return = (closing price offering price) / offering price = (usd 700 usd 580) / usd 580 = 0,207 (underpricing) in this research, the descriptive statistics are used to give an overall picture of data based on the average (mean), standard deviation, maximum, and minimum of each variable. table 1 shows the descriptive statistics that presented the test results on the data variables of this research. tabel 1 the result of descriptive statistics descriptive statistics n minimum maximum mean std. deviation underpricing (y) 78 0,011 0,700 0,25827 0,225936 pbv (x1) 78 0,19 6,35 2,0453 1,20408 per (x2) 78 -43,69 207,30 32,8817 51,22125 eps (x3) 78 -53,30 558,24 54,0164 85,60801 der (x4) 78 0,08 11,32 1,5553 1,92641 npm (x5) 78 -1,04 5,15 0,2554 0,67208 size (x6) 78 24,97 31,40 28,3224 1,33816 age (x7) 78 1 58 17,46 13,126 valid n (list wise) 78 based on the results presented in table 1 can be known the number of samples used in this study is as much as 78 samples. from the 78 samples of unknown variables underpricing research has the lowest value of 0,011 and the highest is 0,700 with an average value of underpricing 0,25827 and a standard deviation is 0,225936. variable of pbv has the lowest value with 0,19 and the highest value with 6,35, to the value of the average pbv is 2,0453, and a standard deviation is 1,20408. variable per has the lowest value with -43,69 and the highest with 207,30, to the value of the average per of 207,30 and a standard deviation of 51,22125. variable eps has the lowest value of -53,30 and the highest of 558,24 with the average value of 54,0164, and a standard deviation of 85,60801. variable der has the lowest value at 0,08, and 11,32 is the highest value, the average der value of 1,5553, and a standard deviation of 1,92641. variable npm has the lowest value of -1,04 and the highest of 5,15 with the average value of npm are 0,2554, and a standard deviation of 0,67208. the variable size has the lowest value of 24,97 and the highest of 31,40 with an average value of size of 28,3224, and a standard deviation of 1,33816. variable age has the lowest value of 1 and the highest of 58 with an average value at 17,46 and a standard deviation of 13,126. after that, it is done the normality test. the purpose of this test is to ensure that the independent and the dependent variable have a normal distribution or not. the method can be used to test the normality of the variables is the kolmogorov-smirnov statistic methods and methods of analysis charts. in the method of kolmogorov-smirnov statistic, independent and dependent variables can be considered normal if asymp. sig. (2-tailed) > 0,05. while the method of chart analysis, independent and dependent variables can be considered normal if the pattern of data points spread around the diagonal line and do not disperse far in the direction of the diagonal line. table 2 shows the test results of kolmogorov-smirnov statistical methods and analysis method graph, while figure 1 shows p-plot normal graph. share price analyst with pbv …… (kriswanto) 119  table 2 one-sample kolmogorov-smirnov test unstandardized residual n 78 normal parametersa,b mean 0,25827 std. deviation 0,18106307 most extreme differences absolute 0,072 positive 0,072 negative -0,065 kolmogorov-smirnov z 0,635 asymp. sig. (2-tailed) 0,814 figure 1 p-plot normal graph based on the test results of kolmogorov-smirnov statistic in table 2 show that all variables usethe normal distribution with value asymp. sig. (2-tailed) > 0,05. similarly, the graph in the figure above shows the result of a pattern of data points spread around the diagonal line and does not disperse far in the direction of the diagonal line. it can be concluded that the regression model used in this study deserves to be further investigated. multicollinearity test aims to determine whether there is a correlation in the regression model between the independent variables. a good regression model should not happen correlation between the independent variable (no multicollinearity). in this test, multicollinearity can be determined based on the value of the tolerance value and variance inflation factor (vif) with the following conditions (1) when tolerance value is less than 0,01 and vif is greater than 10 then it occurs multicollinearity (tolerance < 0,01, vif > 10). (2) when the value tolerance vif is more than 0,01 and less than 10, then it does not happen multicollinearity (tolerance > 0,01, vif < 10). 120 journal the winners, vol. 17 no. 2, september 2016: 113-123  table 3 the test results of multicollinearity based on the test results of multicollinearity that shown in table 3, it is known that all independent variables in indonesian companies, such as the variable pbv, per, eps, der, npm, size, and the age have a tolerance value of > 0,01 and vif < 10. so that, it can be concluded that there is no multicollinearity among all the independent variables. autocorrelation test aims to determine whether there is a correlation between the residuals of the observations to other observations in the regression model. to diagnose the presence of autocorrelation in a regression model, it can be done by testing the value of durbin watson with the provisions (ghozali, 2009): (1) figures dw <-2 indicates positive autocorrelation. (2) figures dw between -2 to +2 indicates there is no autocorrelation. (3) figures dw > +2 indicates negative autocorrelation. it can be seen in table 4. tabel 4 the test result of durbin-watson model durbin-watson 1 1,817 based on the test results in table 4, the value of durbin-watson for variables tested amounts to 1,817 that lies between -2 to +2 (-2 < 1817 > +2). it can be concluded that there is no autocorrelation in the regression model study. heteroskedasticity test aims to determine whether there is any inequality of the residual variance of the observations to other observations in the regression model. in this study, heteroscedasticity test is conducted by test glejser and graphical method. provisions in glejser test are (1) the value of significance (sig.) > 0,05, there are no symptoms of heteroskedasticity. (2) the value of significance (sig.) > 0,05, there is heteroskedasticity symptoms. while the graphical method requirements are (1) there are no heteroskedasticity symptoms if no clear pattern, like dots that spread above and below the number 0 on the y axis. (2) it is heteroskedasticity symptoms if there are certain clear patterns, such as dots form a specific pattern that regularly (wavy, widened and then narrowed). table 5 shows the test results of heteroskedasticity symptoms. model collinearity statistics tolerance vif 1 pbv (x1) 0,780 1,281 per (x2) 0,862 1,161 eps (x3) 0,834 1,199 der (x4) 0,741 1,349 npm (x5) 0,831 1,203 size (x6) 0,675 1,482 age (x7) 0,931 1,074 a. dependent variabel: underpricing (y) share price analyst with pbv …… (kriswanto) 121  tabel 5 the test result of glejser coefficientsa model unstandardized coefficients standardized coefficients t sig. b std. error beta 1 (constant) 0,359 0,576 0,624 0,538 pbv (x1) -0,022 0,022 -0,200 -1,021 0,316 per (x2) 0,000 0,001 -0,056 -0,296 0,769 eps (x3) 0,000 0,000 -0,240 -1,079 0,290 der (x4) -0,009 0,013 -0,150 -0,684 0,499 npm (x5) 0,044 0,069 0,131 0,632 0,532 size (x6) 0,003 0,021 0,036 0,164 0,871 age (x7) -0,001 0,002 -0,080 -0,426 0,674 a. dependent variable: abs_res1 in table 5, the test shows that all values glejser sig > 0,05, which can be concluded that there is no heteroskedasticity in regression models. multiple linear regression analysis is conducted in order to determine the direction of the relationship between the dependent variable with the independent variable whether positive or negative. multiple linear regression analysis includes testing, statistical tests t and f statistical test, the coefficient of determination (r²). t statistical test or significant test individual parameters are used to determine how much influence individual independent variables on the dependent variable. in this study used a significant level of 5% or α = 0,05. the hypothesis used in this study is: h0: there is no significant influence ha: there is a significant influence the basis for a decision in this test are if significance value of t > α, then h0 accepted, if significance value of t < α, then ha accepted. table 7 shows the results of test statistics f. tabel 6 the result of test statistics f model sum of squares df mean square f sig. 1 regression 1,406 7 0,201 5571 0,000b residual 2,524 70 0,036 total 3,931 77 from the test results f statistic for variable pbv, per, eps, der, npm, size, and the age by 5571 with a significance value of 0,000 < α (α = 0,05). so, ha is received with the conclusion that the independent variables consisting of pbv, per, eps, der, npm, size, and age simultaneously significant effect on the dependent variable that is underpricing. basically determination coefficient measures how far the ability of the regression model proposed in explaining the variation of the independent variable. the coefficient of determination ranged from 0 to 1. the coefficient of determination adjusted r2 shows how much influence the independent variables used in the study are able to explain the total variation of the dependent variable. according to ghozali (2009), adjusted r2 value is expected to be positive, but the empirical test negative adjusted r2 value will be assumed to be 0. the basis for decision making in this study refers to ghozali (2009) are as follows (1) if the value of r2 is getting close to 0, it means the ability of the independent variables in explaining the variation of the dependent variable is very limited. (2) if 122 journal the winners, vol. 17 no. 2, september 2016: 113-123  the value of r2 is getting closer to 1, it means the ability of independent variables provides almost all the information needed to predict the variation of the dependent variable. table 7 shows the test results of coefficient of determination (r2). tabel 7 the test results of coefficient of determination (r2) based on table 7, the test result values obtained r² is equal to 0,358. this value is closer to the number 0 and the value of adjusted r square of 0,294 which showed that the ability of the independent variables is pbv, per, eps, der, npm, size, and the age in explaining the variation of the dependent variable is underpricing amounted to 29,4%. and the remaining of 70,6% is influenced by other factors not examined in this study. t statistical test result is known that pbv, per, der, and size significantly affects the level of underpricing during the initial public offering. meanwhile, other variables such as eps, npm, and the age have no significant effect on the level of underpricing during the ipo. f test results show that all independent variables are simultaneously significant effect on the dependent variable, it is supported by t-test result that shows the pbv, per, der, and company size significantly affects the level of underpricing during the initial public offering. the test results show that the coefficient of determination is the very limited dependent variable that explained by the independent variables. in the test results also show that the variation of the level of underpricing can be explained by the variation of the seven independent variables that consisting of pbv, per, eps, der, npm, size, and the age that amounted to 29,4%. this means that the influence of outside independent variables in this study is not examined as one example that is the market condition amounted to 70,6%. the small contribution of the coefficient of determination shows that the influence of the market, in this case, other instruments outside independent variables in this study are very significant in determining a company's level of underpricing. conclusions summary of test results on regression tests that have been done by researchers are as follows (1) on the statistical test t for the variable pbv, the value of the variable t at -3639 with significant values of 0,001 < 0,05, so ha1 accepted. (2) in the statistical test t for the variable per, the value of the variable t by 2733 with a significant value of 0,008 > 0,05, so ha2 accepted. (3) in the statistical test for the variable t eps, the value of the variable t by 0,643 with significant value for 0,522 > 0,05, so h03 is received. (4) in the statistical test t for the variable der, the value of the variable t by 2269 with a significant value of 0,026 > 0,05, so ha4 is accepted. (5) in the statistical test t for a variable npm, the value of the variable t by 0,384 with significant value for 0,702 > 0,05, so h05 is received. (6) in the statistical test t for the firm variable size (size), the value of the variable t at -2896 with significant values of 0,005 > 0,05, so ha6 is accepted. (7) in the statistical test t for the variable age company (age), the value of the variable t at -0,991 with significant value for 0,325 > 0,05, so h07 is received. (8) statistical test f for variable pbv, per, eps, der, npm, size, and the age by 5571 with a significance value of 0,000 > 0,05, so ha8 is accepted. (9) in the test the coefficient of determination (r2) for the variable pbv, per, eps, der, npm, size, and age obtain value of adjusted r square of 0294 which show that the ability of the independent variables is pbv, per, eps, der, npm, size, and the age in explaining the variation of the dependent variable is underpricing amounted to 29,4%. model r r square adjusted r square std. error of the estimate 1 0,598a 0,358 0,294 0,189901 share price analyst with pbv …… (kriswanto) 123  the conclusion based on the results of research and hypothesis testing that has been done is as follows: (1) pbv significantly affects the level of underpricing during the ipo. (2) per significantly affects the level of underpricing during the ipo. (3) eps has no significant effect on the level of underpricing during the ipo. (4) der significantly affects the level of underpricing during the initial ipo. (5) npm does not significantly affect the level of underpricing during the ipo. (6) size significantly affects the level of underpricing during the ipo. (7) age does not significantly affect the level of underpricing during the ipo. (8) pbv, per, eps, der, npm, size, and the age simultaneously significant effect on the level of underpricing during the ipo. based on the results obtained from this study, researchers give the following advice (1) for investors who will invest must consider internal factors which will be a place for investment, in order to ensure the sustainability of return and investment. (2) for companies that will carry out an initial public offering should see internal factors as well, because it will be a factor that considered by the investor in taking the decision to invest in the company. companies should also provide complete information and can be accessed easily to increase investor confidence in the company. (3) for the indonesia stock exchange, it must provide complete and detailed data in order to facilitate investors to acquire the data and information needed by investors as an investment consideration. (4) the company and investors should look at factors and beyond factors that not examined in this study, which may have an influence on the level of underpricing during the ipo. references ghozali, i. (2009). aplikasi analisis multivariate dengan program spss (4th ed.). semarang: penerbit universitas diponegoro. gitman, l. j. (2009). principles of managerial finance (12th ed.). united states: pearson education inc. jogiyanto, h. (2010). teori portofolio dan analisis investasi (7th ed.). yogyakarta: bpfe kim, b. j., richard, j., kish., & vasconcellos, g. m. (2004). cumulative returns from the korean ipo market. review of pacific basic financial markets and policies, 7(1), 43-75. lestari, r. w. (2013). pengaruh npm, roi/roa dan roe pada perusahaan melakukan ipo pada 2009 sd 2011. mishkin, f. s. (2001). the economic of money, banking, and financial market. new york: addison wesley. tian, y. (2012). factors impact to companies ipo on london stock exchange 2002 to 2012. master thesis. canada: saint mary’s university. accounting, business, management, and information system volume 4, nomor 1, maret 2003 issn: 1412 1212 pelindung dr. th. widia soerjaningsih once kurniawan, s.kom., m.m. ir. bahtiar s. abbas, m.sc., ph.d. redaktur utama prof. dr. gerardus polla, m.app.sc. dewan redaksi parulian sihotang, ak., m.acc., ph.d. ir. harjanto prabowo, m.m. e.a. kuncoro, s.e., m.m. mitra bestari dr. hekinus manao, m.acc., c.g.f.m. (universitas indonesia) dr. sudarwan, m.b.a., q.i.a. (universitas trisakti) dr. ir. roy sembel, m.b.a. (program pascasarjana universitas bina nusantara) edi timbul hardiyanto, s.e., ak., m.sc., m.b.a., b.a.p (institut pendidikan internal auditor indonesia) dr. suroso isnandar, m.sc. (university of abertay, united kingdom) marien van den boom, ph.d. (inholland university, the netherlands) editor dra. endang ernawati, m.lib. ade alfiah, s.s. titik rahayu s., s.s. sekretariat hery h.m., s.kom. tri septi wulansari alamat sekretariat subbiro publikasi ilmiah bidang ekonomi, biro penelitian dan publikasi, universitas bina nusantara jl. k.h. syahdan no. 9, kemanggisan palmerah, jakarta barat 11480 telp. (021) 5345830, 5350660 ext. 2206 fax. (021) 5300244 e-mail: heryhm@binus.ac.id issn 1412-1212 subbiro publikasi ilmiah bidang ekonomi universitas bina nusantara accounting, business, management, and information system volume 4, nomor 1, maret 2003 issn: 1412 1212 daftar isi kata pengantar.................................................................................................................. v adi cahyadi e-government: suatu tinjauan konsep dan permasalahan (e-government: an overview on concept and problem)................................................. 1-12 noerlina; sylvia cinthya dewi asian financial crisis: overview of asian crisis and recovery progress....................... 13-17 bahtiar s. abbas; raymond penentuan jumlah teller yang optimal dengan metode antrian di pt bank haga (optimization the number of tellers with queueing method at pt bank haga).............. 18-25 chandra wibowo widhianto; virgyne livynia; diana ramadhany hubungan media customer relationship management dengan kepuasan pelanggan pada hotel istana nelayan (the connection between customer relationship management and customer satisfaction media at hotel istana nelayan)..................................................................... 26-38 idris gautama alasan dan langkah pembangunan bisnis berbasis web (reasons and steps of web-based business development............................................... 39-45 adang sudjana bank syariah sebagai alternatif (syariah bank as an alternative)..................................................................................... 46-53 armanto witjaksono real option analysis (roa)............................................................................................ 54-61 *corresponding author p-issn: 1412-1212 e-issn: 2541-2388 7 the winners, 21(1), march 2020, 7-13 doi: 10.21512/tw.v21i1.5873 factors impacting customer attitude toward buying halal cosmetics in jabodetabek ni made adelia clarita1*; shannon baladewa zimbalist2; rini setiowati3 1,2,3business management program, management department, binus business school master program, universitas bina nusantara jl. kebon jeruk raya no. 27, kebon jeruk, jakarta 11530, indonesia 1claritaadelia29@gmail.com; 2shannonbaladewazimbalist@gmail.com; 3rsetiowati@binus.edu received: 22nd august 2019/ revised: 06th september 2019/ accepted: 19th september 2019 how to cite: clarita, n. m. a., zimbalist, s. b., & setiowati, r. (2020). factors impacting customer attitude toward buying halal cosmetics in jabodetabek. the winners, 21(1), 7-13. https://doi.org/10.21512/tw.v21i1.5873 abstract the research aimed to analyze the relationship between religiosity, product involvement, customers’ knowledge toward customers’ attitudes on halal cosmetics, and the relationship between customers’ attitudes on halal cosmetics towards customers’ intention to buy them. the research used a self – administrated questionnaire with close-ended questions. the questionnaire was distributed as pretest to 30 respondents offline. furthermore, the researchers received answers from 302 respondents out of 350 that were distributed. to assess the relationship between knowledge, involvement, and religiosity, a structural equation modeling technique was used. data were analyzed using smart pls software to test validity and reliability. the findings its show that there is a positive relationship between knowledge, religiosity, and product involvement towards costumers’ attitudes of halal cosmetics on indonesian muslim women. moreover, the results indicate that muslim women in indonesia have more positive attitudes and intentions towards halal cosmetic products. the results of the research give implications to the firm in competing for the general and international brands for the halal cosmetic industry. keywords: customer attitude, halal cosmetics, purchase intention i. introduction the cosmetics industry is one of the major role players in the global industry. the global cosmetic product market was valued at usd532,43 billion in 2017 and is expected to reach a market value of usd805,61 billion by 2023, registering a cagr of 7,14% during 2018-2023 (orbis research). today, women feel more confident and brave after applying cosmetics; for them, cosmetics gives indirect encouragement. women express a more positive body image and self-image when wearing makeup compared to when they are not wearing makeup (cash & cash, 1982). indonesia has the largest muslim population, with approximately 266,7 million muslims or 88% of its total population, and in south east asia’s biggest economy. the number of female populations in indonesia is 131,9 million out of a total of 266,7 million populations. the value of the indonesian cosmetic industry, according to the ministry of industry and the sales growth of the cosmetic industry contributes around usd 1,4 billion. indonesia becomes a sleeping giant who is waking up pretty quickly now. muslim consumers are faced with a wide selection of products and services that are provided in stores, including those of halal and non-halal products (suki & suki, 2018). the halal cosmetics industries are gaining the attention of the world now because muslims feel peace by consuming halal products in every part of their life (ali, halim, & ahmad, 2016). the aspects of ‘halalness’ knowledge of the products are essential during decision making, either to accept or reject a product (ireland & rajabzadeh, 2011). the laws affecting muslims consumption behavior are governed by the quranic philosophy of what is permissible (halal) and what is not permissible (haram) for a believer (eliasi & dwyer, 2002). there are two categorize of islam in indonesia, those are modernism and traditionalism. modernism is the one who keeps up with modern and following the trend. meanwhile, traditionalism is the one who keeps up with the norms and culture. according to the ministry of industry, the value of the indonesian cosmetic industry, and the sales growth of the cosmetic industry contribute around usd1,4 billion. during these past few years, a growing trend in the use of halal cosmetics is increasing in indonesia. the halal 8 the winners, vol. 21 no. 1 march 2020, 7-13 cosmetics industry has a chance to rise in indonesia as muslim women begin to develop an awareness of the halal product. table 1 shows the popular cosmetics brand in indonesia in 2015. table 1 popular cosmetics brand in indonesia 2015 no brand popularity (%) 1. wardah 37,80 2. pixy 10,10 3. sari ayu 8,70 4. viva 6,60 5. pond’s 6,60 6. latulip 3,90 7. oriflame 3,60 8. maybeline 3,30 9. revlon 2,90 10. mustika ratu 1,90 international trade administration (www.trade. gov/industry) says that indonesia has given the massive population of over 250 million and rising incomes; analysts predict that indonesia in the next 10 to 15 years will rise to the top of the asian markets for cosmetics. so, it believes that the cosmetic industry will increase in the profit, including the gdp. there are three local cosmetic industries that have halal certification, which are wardah, sari ayu, and mustika ratu. wardah is known as the first halal cosmetics product that then becomes the leader of the cosmetic brand in indonesia and has consistently recorded a 20%-50% annual sales increase (table 1). it is disproportionately higher than the other manufacturers at around 10%. this is proof from wardah that they have successfully capitalized and become a market leader cosmetics brand in indonesia. global business guide indonesia has been doing surveys, and the result shows that 58% of muslim women in indonesia now choose halal cosmetics over others. it is because a significant number of working muslim women have now generated more income and therefore are more conscious of halal products. the other 42% of women choose another product, which is not halal cosmetics. it becomes the question of what factors and why the other 42% of muslim women do not have the intention to purchase or using halal cosmetics. in arabic, the word ‘halal’ means permissible or lawful, while its antonym is ‘haram’ that means prohibited or unlawful (alam & sayuti, 2011). halal refers to something permissible or allowable in islam, as stated in the quran, where everything in this world is halal unless something shows otherwise (alam & sayuti, 2011). in the previous research conducted by rahman, asrarhaghighi, and rahman (2015) using theory of reasoned actions (tra), it is found that there is a significant positive relationship between religiosity and attitude of muslims in malaysia towards halal cosmetics. purchase intention in young women using theory planned behavior (tpb) has found that it creates halal awareness, and they will pursue products that do not only meet their needs and preferences but also give them peace and much less worry when they consume the products (hashim & musa, 2014). in the research, the researchers show if there is a positive relationship between religiosity, knowledge and product involvement, and attitude towards purchase intention in buying halal cosmetics. this research provides an insight into the indonesian cosmetic industry on what factors attracts new customers with no experience of halal cosmetics. the information allows companies to create a marketing strategy for the broader market to promote their product so that they are able to increase their sales since indonesia is the largest muslim-populated country. since the research about halal cosmetics is scarce, this research can also be used by future researchers to develop more inputs on halal cosmetics in indonesia as research on halal products. tra is the most relevant theoretical model in the context of a halal product as it explicitly embeds subjective norms in the attitude formation process (ajzen & fishbein, 1980). the theory postulates that intention, as the direct precursor to behavior, is derived by the individual’s attitude and the subjective norms (andrews & netemeyer, 1993). amin (2013) has extended the use of tra within the context of halal service through the examination of customer preference towards islamic credit cards. mukhtar and butt (2012) have stated that the tra is a valid model for predicting intention to choose halal products. religious commitments play a critical role in people’s lives through the establishment of beliefs, knowledge, and attitude (ireland & rajabzadeh, 2011). religiosity is the extent to which an individual is committed to his/her religion, where it is then imitated in his/her attitude and behavior (rahman, asrarhaghighi, & rahman, 2015). they have found that there is a significant positive relationship between religiosity and attitude towards halal cosmetics. another previous research has found that there is a positive and significant relationship between religiosity and attitude towards indian halal brands (garg & joshi, 2018). when it comes to muslim consumers, religion occupies a significant part as it facilitates them to distinguish between the permissible and the prohibited (rehman & shabbir, 2010). the overall decision-making process, starting from selecting the product to making purchases and eventually its consumption, extensively relies on individuals’ degree of commitment toward their respective religion (khraim, 2010). previous research has found that the relationship between religiosity and attitude towards halal cosmetics among women in surabaya is positive (balques, noer, & nuzulfah, 2017). the research investigates the relationship between religiosity and attitudes towards cosmetics 9factors impacting customer attitude ..... (ni made adelia clarita, et al.) products in indonesia, and since the consumer nowadays has become more concerned with the halal status of the product that they consume and use. this research tests the relationship between religiosity and attitude towards halal cosmetic products that are focusing on halal cosmetics. h1: there is a positive relationship between religiosity and attitude towards halal cosmetics products. yousaf and malik (2013) discussed on influences of religiosity and product involvement level on the consumers. it is found that a positive result and product involvement affect attitudes on how they decide to purchase a product. it is empirically proven that product involvement is positively associated with brand perception and preference (dholakia, 2003). hashim and musa (2014) said that the manufacturers, producers, and marketers should not only think about increasing the return but also understanding the essentials groundings about the halal concept to encourage them to produce innovative products that are genuinely halal. their research result proves that product involvement has a positive impact on attitude towards halal cosmetics. hashim and musa (2014) found from non-users or users of halal cosmetics that product involvement has a positive relationship with the attitude towards halal cosmetics. when a product is perceived as high involvement, consumers will engage in a more active information search and will consider a greater variety of alternatives in their decision-making (kwon, lee, & kwon, 2008). azreen in hashim and musa (2014) found the relationship from non-user or user halal cosmetics, that product involvement has a positive attitude towards halal cosmetics. h2: there is a positive relationship between product involvement and attitude towards halal cosmetic products. there is a weak relationship between knowledge and attitude (rahman, asrarhaghighi, & rahman, 2015). knowledge is influenced by the level of understanding that is gained from information that reveals more details about halal products (rahman, asrarhaghighi, & rahman, 2015). consumers have sound knowledge on the concept of halal, but they still have low awareness regarding the halal certification and halal label (rajagopal et al., 2011). however, another previous research has found that there is a positive relationship between knowledge and attitude. all of those researches are in the cosmetic industry (briliana & mursito, 2017). h3: there is a positive relationship between knowledge and attitude towards halal cosmetic products. attitude is the stands for a person’s general feeling of favorableness or un-favorableness toward a concept; in other words, it represents the amount of effect (hill, fishbein, & ajzen, 1977). attitude also relates to an individual’s judgment and perceived consequences, whether the act on a specific behavior is good or bad (untaru et al., 2016). rosenberg (1956) has defined attitudes as a combination of beliefs and feelings about an object, either blocking or facilitating an individual’s attempts to attain valued states. according to agarwal and malhotra (2005), an attitude is a summary evaluation of an object or thought, and it is the effect for or against a psychological object. according to tra, consumer attitudes have a positive impact on their intention to buy a product (madden, ellen, & ajzen, 1992). rahman, asrarhaghighi, and rahman (2015) found that the positive relationship between consumer attitudes and intentions regarding halal cosmetics products. azreen and rishida in hashim and musa (2014) have investigated purchase intention in young. it women using theory planned behaviour (tpb) shows that creates halal awareness and they purchase intention pursue products that not only meet their needs and preferences but also give them peace and not worried when consuming the products. moreover, attitude can be further classified into two different categories, which are attitude towards object and attitude towards behavior (fazio, 1990). a relationship between attitude and purchase intention towards the halal brand in india is significant and positive (garg & joshi, 2018). another previous research has found that the more positive the customers’ attitude, the more positive their purchase intention of halal cosmetics (balques, noer, & nuzulfah, 2017). figure 1 shows the framework of this research. h4: there is a positive relationship between attitudes and intentions towards halal cosmetic products. figure 1 research framework ii. methods the questionnaires are distributed using nonprobability convenience sampling. the researchers have distributed 350 questionnaires, both online and offline. the samples are muslim women who use or do not use halal cosmetics. the area for sampling is limited only to jakarta, bogor, depok, tangerang, bekasi (jabodetabek). this research uses a self-administrated 10 the winners, vol. 21 no. 1 march 2020, 7-13 questionnaire with closed-ended questions. section a of the two-section questionnaire covers sociodemographic characteristics of the respondents, such as gender, age, income, buying halal cosmetics, and others. section b of the questionnaire encloses twenty measurement items, which are measured on five-point likert scales stretching from 1 (strongly disagree) to 5 (strongly agree). the researchers use five-point likert scales to measure consumer intention. measure on religiosity, product involvement, product image, attitude, and intention is adapted from previous research by alam and sayuti (2011) which comprises of five-point likert scale ranging from one (strongly disagree) to five (strongly agree). previous research also uses five-point likert scales (rahman, asrarhaghighi, & rahman, 2015). the type of data in this research is primary quantitative data. the quantitative data use comes from the results of the questionnaire. before distributing the questionnaire, the researchers have carried out a trial. the trials are conducted through pretests that have been translated from english to indonesian and indonesian to english. the respondents from the pretest are those who complied with the requirements to fill out questionnaires based on screening questions. a pretest itself serves as feedback and comments about the language used in this research, as well as showing the validity and reliability of the survey. feedback and comments are used to more significantly improve and adjust the language compatibility in this research. pretests are distributed to 30 respondents in various locations offline. there are not much feedback and comments on the pretest, where there are no significant changes made to the questionnaire for further investigation of validity and reliability. after doing a pretest, the researchers spread the online questionnaire through broadcasting using an online media google form to muslim women who live in jabodetabek. the amount of people who live in jabodetabek is 7.604.000 people. at the same time, the total respondents are 350, so it represents 21% of the total population in indonesia. the researchers use pls-sem (partial least squares) analysis that consists of two stages. firstly, observed variables are combined as weighted sums (composites). secondly, the composites are used in separate regression analyses, applying null hypothesis significance testing by comparing the ratio of a regression coefficient and its bootstrapped standard error against the authors’ distribution. the data are analyzed using smart pls software to test validity through the research variable that is valid if the value of outer loading is above 0,70 and the average variance extracted (ave) is above 0,5. reliability testing is seen from values composite reliability. the research variable is reliable if the value represents composite reliability is above 0,70. discriminant validity test is seen from the values of cross loading and fornelllarcker. this is completed by comparing the square root of ave for each variable with the correlation between variables and other variables in the model. for the pretest, the data are analyzed using spss software to determine validity and reliability. cronbach alpha is used to validate the consistency of the measurement used in the questionnaire. in contrast, confirmatory factor analysis (cfa) is used to identify the degree of construct validity. cfa focuses on the kaister meyer olkin (kmo) to measure the sampling and component matrix. iii. results and discussions before distributing the questionnaire, the researchers have carried out a pre-test. pre-tests are distributed offline to 30 respondents in various locations. the pre-test does not generate many feedback and comments. based on the spss result, the researchers have removed five items that are not valid and not reliable. according to the data collected from 302 respondents, there are 152 (50,34%) respondents who do not use halal cosmetics, while 150 (49,66%) of them are halal cosmetics users. the age group of the largest respondents is 18-25 consisting of 248 respondents (82,11%). the majority of respondents amounted to 115 (38,07%), are located in jakarta. more than half of the respondents are students with 214 (70,86%) respondents. the majority of income is rp2.000.000,00 rp4.000.000,00 with 135 (44,7%) respondents. based on the collected data, out of 302 respondents, 161 (53,21%) buy make-up for a month. the majority, consisting of 99 (32,78%) respondents, chose to buy make-up online. from the total 24 items, there are 22 valid items. by removing one item from the variable of customer attitude and one item from religiosity, all of the variables are considered valid and reliable. table 2 shows the validation and reliability, while table 3 shows the discriminant validity. the factor loading ranges from 0,708 to 0,860, the value of ave ranges from 0,553 to 0,648, and composite reliability values ranges from 0,832 to 0,893. therefore, all variables meet the criteria of discriminant validity with the range of 0,744 to 0,805. tbale 4 shows p-value. the result implies that h1 is accepted with sig. value of 0,000 and that religiosity is related to attitude. these results are in accordance with the findings of rahman, asrarhaghighi, and rahman (2015) that says, there is a significant positive relationship between religiosity and customer attitude in halal cosmetics. hypotheses testing for h2 is accepted, which indicates that product involvement affecting attitude with a significant value of 0,000. product involvement has a significant positive attitude to halal cosmetics (hashim & musa, 2014). the next hypotheses, h3 that has stated halal knowledge has an impact on the customer’s attitude with a significant value of 0,003, which is lower than 0,05. this result does not correspond with rahman, asrarhaghighi, and rahman (2015), who has stated that there is no significant relationship between knowledge and customer attitude. according to tra, customer attitude has a positive impact on 11factors impacting customer attitude ..... (ni made adelia clarita, et al.) table 2 mean, validation and reliability no construct / item mean factor loading > 0,7 composite reability > 0,7 ave > 0,5 1 religiosity 0,846 0,648 r1 0,787 r2 0,860 r3 0,766 2 product involvement 0,839 0,565 pin 1 0,729 pin 2 0,822 pin 3 0,735 pin 4 0,712 pin 5 0,783 3 halal knowledge 0,832 0,553 hk 1 0,719 hk 2 0,787 hk 3 0,750 hk 4 0,716 4 customer attitude 0,893 0,627 ca 1 0,793 ca 2 0,821 ca 3 0,840 ca 4 0,708 ca 5 0,792 5 purchase intention 0,870 0,574 pi 1 0,729 pi 2 0,822 pi3 0,735 pi 4 0,712 p i 5 0,783 table 3 discriminant validity no ca hk pi pin r 1 ca 0,792 2 hk 0,534 0,744 3 pi 0,670 0,605 0,757 4 pin 0,648 0,501 0,498 0,752 5 r 0,691 0,493 0,546 0,656 0,805 table 4 p-value no hypothesis path path coef t-value p-value conclusion 1 h1 r > ca 0,412 6,803 0,000 supported 2 h2 pin > ca 0,238 4,366 0,000 supported 3 h3 hk > ca 0,187 3,010 0,000 supported 4 h4 ca > pi 0,670 9,508 0,000 supported 12 the winners, vol. 21 no. 1 march 2020, 7-13 the intention to order products (madden, ellen, & ajzen, 1992). this indicates that muslim women in indonesia, especially in the jabodetabek area who choose halal cosmetics, have more knowledge enough to distinguish between things that are permitted and prohibited. in this research, the h4 stating that customer attitude has an impact on purchase intention is accepted with sig. value of 0,000. previous research has also found a relationship between attitude and purchase intention towards the halal brand in india is significant and positive (garg & joshi, 2018). the research delivers some practical implications. it conveys a strong message to cosmetic companies, particularly the producers, retailers, and distributors of cosmetic products, concerning the need to foster better knowledge among consumers regarding halal cosmetic product consumption. according to global business guide (2017), halal cosmetics is on rising demands in indonesian customers. as of september 2017, the indonesia national agency of drug & food control (bpom ri) has reported that there are 33.823 registered cosmetic products sold in the country. this is an increase of 11,57% of the same period during the previous year. in 2017, the market size of the indonesian cosmetic industries reached rp46,4 trillion. this provides huge market products and turns the assessment of the relationship between consumer attitudes towards and intention to choose halal products an interesting subject for many researchers. according to a global market research company, euromonitor international, indonesia has the largest number of middle-class households in asean (hananto, 2018). this could be proven by the majority net income of the respondents, which range from rp2.000.001,00 to 4.000.000,00. a lot of previous studies have only focused on halal food, while researches on halal cosmetics are still rarely found. the limitation of the previous research is that they assess the influence of knowledge to consumer attitudes towards halal products (rahman, asrarhaghighi, & rahman, 2015). their results correspond with this research, indicating that there is a weak relationship between knowledge to attitude for non-user of halal cosmetics. iv. conclusions by using tra, the research explores the relationship between consumer attitudes and intention to choose halal cosmetics products. the finding of this research indicates that all of the hypotheses are accepted among the users of halal cosmetics in jabodetabek (jakarta, bogor, depok, tangerang, bekasi), but one hypothesis is rejected among non-users of halal cosmetics. knowledge of attitudes is rejected among non-users due to their lack of knowledge of halal products. meanwhile, product involvement and religiosity have a positive relationship to the customer attitudes for them and cause them to have the intention to purchase halal cosmetics or re-purchased halal cosmetics. since one of the symbols of a woman’s beauty is cosmetics, they are normally associated with women because of their nature to always look and feel beautiful. muslim women use cosmetics not only to enhance their features but also to project an image of poise and confidence. therefore, the researchers hope market research in general and international brands in particular to conduct campaigns focusing on creating awareness regarding compliance with halal products. it is because of muslim women need to be extra careful in selecting the products as they have to ensure that the products they use comply with syariah law by being halal. gbg’s argument about halal cosmetics being on rising demands implies that the demand for halal products itself has already had its own market and gained awareness. the awareness is necessary for the brand itself to turn the customers’ understanding and concerns into the intention to buy halal cosmetics. although this research has generated a new understanding and appeared to be useful to the practitioners, there are still limitations that should be taken into consideration. first, the questionnaires are only distributed in jabodetabek that do not specify certain halal cosmetic brand in indonesia. thus, future research is expected to investigate the relationship between religiosity, knowledge, product involvement, attitude, and intentions towards the halal cosmetic product with a specific brand, such as wardah. this will help researchers achieve a holistic and better view from the customer about the halal brand itself. it could also give insight to the industry players and market researchers. the results of this research can help academicians and practitioners achieve a better understanding of the factors affecting consumer attitudes. they can assist them in testing the generalizability of tra in a more comprehensive manner. references agarwal, j., & malhotra, n. k. 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(2013). evaluating the influences of religiosity and product involvement level on the consumers. journal of islamic marketing, 4(2), 163– 186. https://doi.org/10.1108/17590831311329296. accounting, business, management, and information system volume 5, nomor 1, maret 2004 issn: 1412 1212 pelindung dr. th. widia soerjaningsih once kurniawan, s.kom., m.m. ir. bahtiar s. abbas, m.sc., ph.d. redaktur utama prof. dr. gerardus polla, m.app.sc. dewan redaksi parulian sihotang, ak., m.acc., ph.d. ir. harjanto prabowo, m.m. e.a. kuncoro, s.e., m.m. mitra bestari dr. hekinus manao, m.acc., c.g.f.m. (universitas indonesia) dr. sudarwan, m.b.a., q.i.a. (universitas trisakti) dr. ir. roy sembel, m.b.a. (program pascasarjana universitas bina nusantara) edi timbul hardiyanto, s.e., ak., m.sc., m.b.a., b.a.p (institut pendidikan internal auditor indonesia) dr. suroso isnandar, m.sc. (university of abertay, united kingdom) marien van den boom, ph.d. (inholland university, the netherlands) editor dra. endang ernawati, m.lib. titik rahayu s., s.s. agung pramanto, s.s. sekretariat hery h.m., s.kom. tri septi wulansari harkat christian zamasi alamat sekretariat subbiro publikasi ilmiah bidang ekonomi, biro penelitian dan publikasi, universitas bina nusantara jl. kebon jeruk raya no. 27, kemanggisan, jakarta barat 11530 telp. (021) 5345830, 5350660 ext. 1706 fax. (021) 5300244 e-mail: heryhm@binus.ac.id issn 1412-1212 subbiro publikasi ilmiah bidang ekonomi universitas bina nusantara accounting, business, management, and information system volume 5, nomor 1, maret 2004 issn: 1412 1212 daftar isi kata pengantar................................................................................................................... v laksmi sito dwi irvianti pengembangan karier sebagai motivator kerja karyawan (career development as an employee’s working motivation)........................................... 1-7 haryadi sarjono; budiman notoatmodjo evaluasi dampak program pengelolaan dan pendayagunaan pulau kecil tahun 2003: departemen kelautan dan perikanan (evaluation of the impact of small islands management and empowering program in 2003: department of marine and fisheries)................................................................ 8-18 hartiwi prabowo penerapan economic value added untuk memaksimalkan nilai perusahaan: studi kasus pt xyz (economic value added implementation for maximizing the company’s value: case study of pt xyz).................................................................................................... 19-33 adi cahyadi mengamankan transaksi di internet: suatu tinjauan terhadap justifikasi dan metode (securing internet transaction: a study on justification and method)............................ 34-44 fauzi solihin profit sharing dalam pengelolaan rumah makan “padang” (profit sharing of “padang” restaurant management).................................................... 45-51 son wandrial perkembangan manajemen strategi (strategic management development)............................................................................. 52-71 idi setyo utomo suatu tinjauan penyebab kepindahan dosen perguruan tinggi negeri (ptn) ke luar negeri (an observation of reasons concerning the state university’s lecturers migration).... 72-77 vol. 19 no. 1 march 2018 economic, business, management, and information system journal winnersthe journal p-issn 1412-1212 e-issn 2541-2388 editor in chief rudy aryanto management department, bina nusantara university, indonesia managing editors arta moro sundjaja information system department, bina nusantara university, indonesia noerlina information system department, bina nusantara university, indonesia national editor board engkos ahmad kuncoro management department, bina nusantara university, indonesia idris gautama so management department, bina nusantara university, indonesia yasintha soelasih management department, atmajaya university, indonesia levyda levyda management department, sahid university, indonesia agus zainul arifin management department, tarumanegara university, indonesia language and layout editor dina nurfitria bina nusantara university, indonesia eka yanti pangputri bina nusantara university, indonesia atmawati bina nusantara university, indonesia holil bina nusantara university, indonesia secretariat haryo sutanto bina nusantara university, indonesia description the winners is a semiannual journal, published in march and september. the winner focuses on various issues spanning in economics, business, management, and information system through this scientific journal. the winners has been indexed by academic research index (research bib), science and technology index (sinta), microsoft academic search, indonesian publication index (ipi) bielefeld academic search engine (base), world catalogue (worldcat) and google scholar, and indonesian research repository (neliti). research and technology transfer office, bina nusantara university, anggrek campus, jl.kebon jeruk raya 27, kebon jeruk, jakarta barat 11530, tel. +621-5350660 ext. 1705/1708, fax.+621-5300244, e-mail: asundjaja@binus.edu, hsutanto@binus.edu, thewinner@binus.edu, http://journal.binus.ac.id/index.php/winners contents irene teresa rebecca; anita maharani exploration of methods for small businesses in determining the brand positioning through marketing mix concept .............................................................................................. 1-7 yulia magdalena; togar alam napitupulu critical factors in e-learning that influence student motivation and collaboration in indonesian higher education institution ................................................................................. 9-19 sebastianus laurens influence analysis of dps, eps and pbv toward stock return and prices .............................................. 21-29 regina inderadi; larasati adiannisa; nugroho j. setiadi the business strategy analysis of a forwarding company in indonesia ............................................... . 31-43 rosalin ayal; isanawikrama; yud buana the implementation of training and development program study case: pt bank negara indonesia branch .... 45-52 banon amelda; erna bernadetta s analysis of banking industry performance efficiency in indonesia using parametric and nonparametric methods .... ............................................................ 53-67 journal p-issn 1412-1212 e-issn 2541-2388 vol. 19 no. 1 march 2018 economic, business, management, and information system journal winnersthe editor in chief rudy aryanto managing editors engkos achmad kuncoro (binus university, jakarta) idris gautama so (binus university, jakarta) yasintha soelasih (atma jaya university, jakarta) levyda (sahid university, jakarta) agus zainul arifin (tarumanagara university, jakarta) executive editors arta moro sundjaja noerlina editor/setter dina nurfitria eka yanti pangputri holil atmawati secretariat haryo sutanto administration address research and technology transfer office binus university anggrek campus, jl.kebon jeruk raya 27 kebon jeruk, jakarta barat 11530 ph. 021-5350660 ext. 1708 email: hsutanto@binus.edu, raryanto@binus.edu publication & issn published twice a year (march and september) p-issn: 1412-1212 e-issn: 2541-2388 vol. 18 no. 2 september 2017 economic, business, management, and information system journal winnersthe journal p-issn 1412-1212 e-issn 2541-2388 contents shienny megawati sutanto; marina wardaya how to use iconic image illustration to increase selling value of fiction works ..................................... 49-59 arman; asep saefuddin; fathia anggriani pradina the role of oil palm and rubber industry toward regional economic in west kalimantan-indonesia ............ 61-72 justin callais; walter e. block medical economics: legalize organ markets ............................................................................... 73-81 damar aji irawan expatriates perceptions toward hofstede’s indonesia cultural dimensions ........................................... 83-92 sri bramantoro abdinagoro factors influencing the intention of attending theater performances: an exploration study ......................... 93-108 index.............................................................................................................................. 109-112 journal p-issn 1412-1212 e-issn 2541-2388 vol. 18 no. 2 september 2017 economic, business, management, and information system journal winnersthe information system strategic …… (andry adrian tirana) 71 information system strategic planning at pt ep-tec solutions indonesia andry adrian tirana information system management depatment, binus graduate program, master of information systems management, bina nusantara university jl. kebon jeruk raya no. 27, kebon jeruk, jakarta 11530, indonesia andry.tirana@gmail.com abstract this research aimed to analyze the internal and external environment of business and information system /information technology (is/it), to identify current and future application portfolios, and to develop an information system strategic planning to achieve the vision, mission, and objectives of pt ep-tec solutions indonesia. the data were obtained from the results of interviews, observations, literature study, questionnaires, and analysis of the company’s internal documents. data were taken from interviewing and questionnaires that were ten managerial levels of 50 employees at pt ep-tec solutions indonesia. the weight on the swot ifas and efas matrix used a pairwise comparison method. the method applied descriptive method by using the information system strategic planning framework from ward and peppard. the analytical tools used porter’s five forces, pest, swot, value chain, it balance scorecard, and mcfarlan strategic grid. the results of this research indicate that future application portfolio recommendation that supports si business strategies, is/it management strategies, and it strategies that can help pt ep-tec solutions indonesia in achieving strategic goals. from these results, it can be concluded that there are several proposals for applications, security tools, profiles of knowledge and skills, and recommendations for is/it infrastructure that can be applied in the company. keywords: strategic planning information systems, ward and peppard, swot analysis, it balance scorecard, application portfolio introduction recently, most organizations in all sectors of industry, commerce, non-profit, and government basically depend on information systems and information technology (peppard & ward, 2016). an organization can run well supported by information systems and information technology strategies that are aligned with its business strategy so that the organization’s goals can be achieved. the growth of information systems and information technology plays an important role in supporting business activities and organizational services by providing information that is fast, precise, and accurate so as to increase the effectiveness and efficiency of an organization’s performance. this is felt by the pt eptec solutions indonesia company as one of the leading companies in indonesia that have been established since 2005 in jakarta, and then grows and develops into the leading distribution company in indonesia for high-end communication and technology devices that focus on marketing to the education and enterprise markets throughout indonesia. the strategic role of information systems in organizations is to improve operating efficiency, improve organizational innovation, and build strategic information resources (o’brein, 2006). information system strategic planning can be utilized by a company to expand market reach, align information systems, and information technology (is/it) with business, gain competitive advantage, increase commitment and communication with users, formulate business strategies and is/it, and mailto:andry.tirana@gmail.com 72 journal the winners, vol. 20 no. 2, september 2019: 71-83 develop architecture information (al-aboud, 2011). however, the company’s perception of strategic information systems planning often only supports operational activities (babafemi, 2015). problems that occur at pt ep-tec solution indonesia today is the information presented to customers often incomplete and inaccurate even late given due to limitations in processing data analysis. besides that, the absence of an integrated internal application that can meet the needs of employees at work, even though having an application a well-integrated and connected internal system that is expected to support the work of employees in processing and analyzing data, as well as increasing the company’s added value. then, strategic activities at pt partial ep-tec solutions indonesia is also still carried out by each area whose impacts are not integrated, so that integrated handling is needed in response to every information and service to customers. referring to the problems that exist at pt eptec solutions indonesia, figure 1 shows the sales data that occurs from january to december 2018. if looking at the sales data, there is a decline in sales and also the unstable sales figures each month, which can result in reduced profits and company competitive advantage. figure 1 company revenue 2018 in 2018, ep-tec solutions indonesia set a sales target of 150 billion, and the results of the achievement are still far below the sales target of 75 billion, then in 2019, the sales target is 200 billion. the target is expected to be achieved by implementing an appropriate information system strategy. pt ep-tec solutions indonesia requires an information system strategic planning that can optimize performance from business processes, sales processes, logistics processes, and service/repair processes for the technology and communication device market. with the existence of a new and integrated strategic planning information system, the company’s operational activities can be more organized, fast, flexible, in order to increase company revenue and competitive advantage in the information and communication technology industry. information systems (is)/information technology (it) capability has been interpreted to have the ability to influence the success of companies in reviewing the sizes, types, goals, and structures of their organization (khani, nor, & bahrami, 2011). the strategic planning of information systems and information technology made by this author refers to the journal written by sampurna, darmawan, & nugroho (2015). based on the methodology approach of ward and peppard, analysis is carried out on the internal and external environment of pt ep-tec solutions indonesia, and also see the current condition of is/it to produce an application portfolio that is in line with the business strategy of pt eptec solutions indonesia. information system strategic …… (andry adrian tirana) 73 methods the methods used in this research are in accordance with john ward and joe peppard’s information system strategic planning analysis. in this research, some analyses categorized based on the input and output steps, according to ward and peppard, are carried out. an important factor in the is/it strategic planning process is the use of the methodology. the methodology is a collection of methods, techniques, and tools used to do something. the purpose of using the methodology in is/it strategic planning is to minimize the risk of failure, ensure the involvement of all interested parties and minimize individual dependence, and emphasize the process and targets specified. the ward and peppard version of the methodological approach starts from the condition of investment in is/it in the past that is less useful for the organization’s business objectives and captures business opportunities; and the phenomenon of increasing the competitive advantage of an organization because it is able to utilize is/it to the full. less useful is/it investment for organizations is due to is/it strategic planning that is more focused on technology, not based on business needs. figure 2 shows the research framework used by companies to make is/it strategic planning that is proposed by ward and peppard with the planning model. figure 2 research framework (peppard & ward, 2016) from figure 2, it can be seen that is/it planning is divided into two important components, namely input and output. the input stage consists of; first is the analysis of the external business environment at pt ep-tec solutions indonesia includes several external factors that influence the company’s business strategy. external factors can be seen from opportunities and threats for the company. this analysis uses the analysis of porter’s five forces and pest. the second is the analysis 74 journal the winners, vol. 20 no. 2, september 2019: 71-83 of the internal business environment at pt ep-tec solutions indonesia from an internal side that influences the company’s business processes and corrects the company’s internal weaknesses so that it does not become a threat later. this analysis uses swot analysis and value chain analysis. swot analysis is defined for internal factors, such as company strengths and weaknesses, by using the ifas table (internal strategic factors analysis summary). the external business analysis consists of swot analysis that is defined for external factors, such as company opportunities and threats, using efas tables (external strategic factors analysis summary). to conduct a swot analysis, it needs to be built with full awareness and supportive situations of strategic planning and decision making (holt & wolff, 2015). the third is an analysis of the internal environment of is/it consists of it bsc (it balanced scorecard) and infrastructure. it bsc defines and measures the performance, strategies, and activities of the company based on the perspective of company contributions, user orientation, operational improvements, and future orientation (swierk & mulawa, 2014). this is useful to compare with the is/it needs that are needed in achieving the vision and mission so that conclusions are needed to increase the it needed by pt ep-tec solutions indonesia. in addition, a portfolio analysis of the current application will be carried out regarding the applications that the company currently uses by using mcfarlan’s strategic grid. and the last is an analysis of the external environment of is/it is external factors that can influence strategic planning. for example, with the current technological trend where developing technological developments must also be appropriate and can support ongoing business. even for cloud computing, technology is already familiar to all of them so that the development of applications for technological trends can be developed. while the output stage is a part that is done to produce an is/it strategic planning document whose contents consist of: (1) after all the analyses have been carried out, the information will be obtained to do the formulation of the is/it strategy which includes the si business strategy. at this stage of the si business strategy is the way in which information systems are utilized in supporting every business activity that is related to the company’s vision and mission. moreover, explain various problems that will be made a solution, so that the solution can be implemented. the results of the si strategy are in the form of application recommendations that are proposed to be implemented so that the problems found in the company can be resolved properly and become a tool to achieve its vision and mission. (2) the stages of the is/it management strategy can design a strategy, which can produce new policies by top management related to information technology. it will be implemented by the company, where the policy can be in the form of utilization of company resources in the form of improving the quality of human resources by increasing knowledge and skill. (3) at the it strategy stage where this strategy is useful to find out how it can be utilized in supporting the achievement of vision and mission, and the main business processes that exist in the company. this it strategy is in the form of software, hardware, application platforms, and network topologies that are useful to support the si strategy that has been analyzed previously. (4) future application portfolios are needed to describe each requirement of the recommended application for the company after analyzing the internal and external environment of the business. the application portfolio is also useful as a basis for identifying the company’s needs for software and hardware in the future. some analytical techniques used in is/it strategic planning in this methodology include swot analysis, five forces porter analysis, value chain analysis, it balanced scorecard, and mcfarlan’s strategic grid. the method to be used in this research is a qualitative method that aims at what it targets, and the business objectives to be achieved over the next three years, which are then analyzed by the theory of is/it strategic planning. the data collection carried out in this research is through a questionnaire and interview. besides that, the researcher makes observations directly into the company. observation is carried out in order to be able to find out how the business process is running from the business unit in the company and also to get the information needed. data collection is carried out through literature and reference books related to research to support the writing of this research. besides that, the researcher also needs supporting data contained in company documents, which include vision, mission, organizational structure, and business processes that exist within pt ep-tec solutions indonesia. information system strategic …… (andry adrian tirana) 75 results and discussions in preparing it strategic planning, an analysis of existing business needs is needed in order to assess and evaluate the existing system, so that conclusions can be given to provide recommendations for the proposed system. analysis of the internal business environment is carried out to identify the extent to which the company can evaluate things that need to be improved or developed and even used as an opportunity to build the company further so that it can increase the company’s competitive advantage. the analysis of the value chain will describe the activities carried out by ep-tec solutions indonesia. the main activities and supporting activities to be identified in the business area can be seen in figure 3. figure 3 value chain analysis of pt ep-tec solutions indonesia swot analysis is conducted to describe the environmental conditions in ep-tec solutions indonesia, both internal (strengths and weaknesses) and external (opportunities and threats). this aims to assist in determining the objectives and objectivity of the company within the next three years so that it can carry out efficiency and effectiveness in maintaining the company’s competition. the results of the identification are compared to maximize internal factors of strengths and opportunities and minimize external factors of weaknesses and threats of a company that can be seen in table 1 and table 2. table 1 internal factors strength weakness s1. company reputation w1. operational activities are not optimal s2. customer based from various industries w2. the it governance mechanism is still not good enough s3. diversity of portfolio products w3. the high turnover rate and knowledge sharing have not been maximized s4. management support for it development table 2 external factors opportunity threats o1. the rapid growth of is / it in the world t1. politics and social affairs o2. increased internet use in indonesia t2. new technology used by competitors o3. have the opportunity to expand market share with technology that has been mastered t3. skill limitations in the it division 76 journal the winners, vol. 20 no. 2, september 2019: 71-83 ifas matrix (internal strategic factors analysis summary) and efas (external strategic factors analysis summary) are presented to evaluate and calculate the results of analysis of internal and external factors that will be compared to determine the current position of the company and the strategies the company will use in implementing the project (david, 2011). the weight on the matrix uses a pairwise comparison method. the ifas matrix can be seen in table 3, while the efas matrix can be seen in table 4. table 3 ifas matrix code strength weight rating value s1 company reputation 0,062 3 0,186 s2 customer based from various industries 0,059 4 0,236 s3 diversity of portfolio products 0,044 4 0,176 s4 management support for it development 0,215 3 0,645 subtotal strength 1,243 code weakness weight rating value w1 operational activities are not optimal 0,177 4 0,708 w2 the it governance mechanism is still not good enough 0,264 3 0,792 w3 the high turnover rate and knowledge sharing have not been maximized 0,180 3 0,540 subtotal weakness (2,040) total (s-w) 1,000 (0,797) source: david (2011) table 4 efas matrix code opportunity weight rating value o1 the rapid growth of is / it in the world 0,184 3 0,552 o2 increased internet use in indonesia 0,262 4 1,047 o3 have the opportunity to expand market share with technology that has been mastered 0,050 4 0,198 subtotal opportunity 1,797 code threats weight rating value t1 politics and social affairs 0,196 2 0,392 t2 new technology used by competitors 0,039 1 0,039 t3 skill limitations in the it division 0,270 1 0,270 subtotal threats (0,701) total (s-w) 1,000 1,096 source: david (2011) based on the calculations for the amateur ifas and efas, as can be seen in table 3 and table 4, it can be determined at the point (x; y) on the swot diagram, where x points show the number 0,797 while the y point shows the number 1,096 that can be seen in figure 4. these results indicate that ep-tec solutions indonesia is located at the coordinates (-0,797; 1,096), which is in quadrant iii. it means that supporting companies to carry out turn-around strategies, where ep-tec solutions indonesia has a large opportunity but is still hampered by several obstacles on the internal side. based on the analysis conducted, it shows that actually, the condition of ep-tec solutions indonesia is quite good, but still needs to be improved and improved on the internal side so that the results achieved can be more optimal in achieving its business objectives. through an analysis of the strengths, weaknesses, opportunities, and threats faced by pt eptec solutions indonesia, it will be spelled out the swot matrix that integrates the factors in the ifas matrix with the factors in the efas matrix. the matrix will be a strategy formula for pt ep-tec information system strategic …… (andry adrian tirana) 77 solutions indonesia to be able to take advantage of all the strengths and opportunities that exist so that weaknesses and threats that may occur can be minimized and appropriately handled. the swot matrix obtained can be seen in table 5. based on the swot matrix in table 5, the strategies that will be carried out by pt ep-tec solutions indonesia has a w-o strategy, namely a strategy on how to utilize the company’s external strengths to maximize the opportunities that exist. mapping the w-o strategy, is/it needs, and is/it support needed by pt ep-tec solutions indonesia is helping to realize this strategy that can be seen in table 6. figure 4 swot diagram table 5 swot matrix ifas efas strengths (s) s-1: company reputation s-2: customer based from various industries s-3: diversity of portfolio products s-4: management support for it development weaknesses (w) w-1: operational activities are not optimal w-2: the it governance mechanism is still not good enough w-3: the high turnover rate and knowledge sharing have not been maximized opportunities (o) o-1: the rapid growth of is / it in the world o-2: increased internet use in indonesia o-3: have the opportunity to expand market share with technology that has been mastered s-o strategy  maximize good communication to expand market potential  utilizing employee competencies to develop solutions and product services according to technological developments w-o strategy  company website optimization  develop the decision support system (dss) application  building a knowledge management system (kms)  building customer relationship management (crm) threats (t) t-1: politics and social affairs t-2: new technology used by competitors t-3: skill limitations in the it division s-t strategy  manage and improve it security standardization  focusing on one technology only  expanding market segments develop new products and solutions w-t strategy  optimization of it devices  knowledge management system with the resources that are owned, it is expected to be able manage the project better 78 journal the winners, vol. 20 no. 2, september 2019: 71-83 table 6 mapping of w-o strategy, is/it needs, and is/it support w-o strategic mapping is/it needs is/it support improve the performance of the company's is / it infrastructure to support business processes, including application development  there is a system that supports the company's business processes as a whole, both the process of accepting new projects, receiving service improvements, and implementing the project itself, as well as the process of sharing resources in the project  the existence of a system that can support the improvement of employee competencies and knowledge in implementing projects including online learning. kms (knowledge management system) enlarge the number and scope of the project by developing marketing networks  there is a system that can identify the products and solutions needed by other companies.  there are applications that help increase company sales  company website  crm (customer relationship management) improve excellent service to customers there is an application that can provide input in decision making dss (decision support system) political, economic, social, and technology analysis (pest) can take points from the swot analysis described so that between pest analysis and swot analysis can be interconnected. this pest analysis is an analysis used to identify external environmental factors that affect the business process of ep-tec solutions indonesia so that it can be used as a reference for companies to measure themselves to what extent ep-tec solutions indonesia can keep up with the development of the it industry in indonesia. these factors consist of politics, economics, social, and technology. by evaluating and recognizing external opportunities and threats, the company will be able to develop its vision and mission as the basis for the right strategy to achieve long-term targets. analysis of five forces porters is done to see the competition map that exists in the company’s business and see the extent of the influence of competition between new entrants, substitute products, supplier bargaining power, and bargaining power of customers towards the company’s business continuity. analysis of five forces porters can be seen in figure 5. based on the performance analysis of current is/it ep-tec solutions indonesia on strategic objectives, it is measured by four bsc it perspectives, both through interviews, questionnaires, and data observations. the achievement outcome categories with the weight values that will be used in this evaluation are:  0% 54% : very bad  55% 64% : bad  65% 74% : enough  75% 84% : good  85% 100% : very good in the company contribution perspective, the instrument for measuring % of the project implementation process using applications is by observing data and interviewing. the list of questions asked in the interview is, “how many ep-tec solutions indonesia projects have the implementation process using the application?” from the information obtained, there are 70% of the implementation process using the application. information system strategic …… (andry adrian tirana) 79 bargaining power of suppliers number and size of suppliers uniqueness of each suppliers company`s ability of substitute bargaining power of buyers number of customers customer order size price sensitivity differentation threat of new entrants pt. innovasi sarana grafindo pt. sentuh digital teknologi pt. mandiri artha solusi pt. nusantara t ridaya inovasi threat of substiture products ice board newline maxhub viewsonic rivalry among existing competitors pt. aliansi sakti pt. galva technologies pt. indovisual presentama pt. v2 indonesia figure 5 porter’s five forces in the user orientation perspective, it needs to increase user satisfaction. % level of suitability of application performance to the user’s business needs. measuring instrument % the level of appropriateness of application performance to the user’s business needs, namely by distributing questionnaires. the lists of questions submitted in the questionnaire are: 1) what is your level of satisfaction with the solution provided? a. very satisfied (the solution provided is able to solve all problems in the long term) b. satisfied (the solution given is able to solve the problem you are asking) c. good enough (the solution give n is only able to solve some problems) d. not satisfied (application performance does not meet the user's business needs) 2) how long do you need to access functions in a business application? a. very fast (≤ 3 seconds) b. fast (3-6 seconds) c. slow (7-10 seconds) d. very slow (≥ 11 seconds) 3) how long does it take for the it division to respond and provide a solution to the problem you are asking? a. very fast (≤ 1 day) b. fast (2-3 days) c. slow (4-5 days) d. very slow (≥ 6 days) the information in table 7 shows that the measurement results are the level of suitability of the application’s performance against the user’s business needs, namely: (80% * 0,33) + (80% * 0,33) + (82,5% * 0,33) = 80,83%. in the operational improvement perspective of % level of availability of internal company applications, the instrument for measuring% the level of availability of software in the company is by distributing questionnaires. the list of questions submitted in the questionnaire is: 80 journal the winners, vol. 20 no. 2, september 2019: 71-83 (1) what is the level of availability of internal company applications in supporting business processes? a. very complete (the company has internal applications that support all existing business processes) b. complete (companies have internal applications that support key business processes) c. quite complete (companies only have internal applications that support certain business processes) d. incomplete (the company does not have an internal application) (2) has the company's internal application met your needs? a. very satisfying (≥ 85% of the company's internal applications are very fulfilling all your needs in carrying out daily work) b. fulfill (50% 84% of the company's internal applications meet your overall needs) c. fairly satisfied (26% 49% of the company's internal applications meet some of your needs, but there are still some needs that have not been met) d. not fulfilling (≤ 25% of the company's internal applications do not meet your needs at all) table 7 measurement data level of conformity of application performance to users’ business needs question number answers total a (score 4) b (score 3) c (score 2) d (score 1) 1. 3 6 1 0 23/40 = 80% result no. 1 12 18 2 0 2. 2 8 0 0 32/40 = 80% result no. 2 8 24 0 0 3. 3 7 0 0 33/40 = 82,5% result no. 3 12 21 0 0 table 8 results of measurement of the availability of company internal applications question number answers total a (score 4) b (score 3) c (score 2) d (score 1) 1. 3 6 1 0 23/40 = 80% result no. 1 12 18 2 0 2. 2 8 0 0 32/40 = 80% result no. 2 8 24 0 0 from the information in table 8, it shows that the results of the measurement of the level of availability of the company’s internal applications, namely: (80% * 0,5) + (80% * 0,5) = 80%. according to the future orientation perspective, % improve employee competency in measuring instrument% frequency of employee training, namely data observation and interviews. the list of questions asked in the interview are: (1) what is the frequency level of training held for employees in a year? from the information obtained, it is known that the frequency of training held for employees is around two times a year. so that the measurement results obtained are 50% (table 9). (2) what is the frequency level of the development of a company’s information system? from the information obtained, it is known that the company carries out information system development every year so that the measurement results obtained are 100% (table 9). information system strategic …… (andry adrian tirana) 81 the results of the final achievement of the performance of the it division ep-tec solutions indonesia with 4 bsc it perspectives can be seen in table 10. table 9 results of measurement of the availability of company internal applications strategic measurement strategic target measurement results achievement (%) frequency of employee training 2 times a year 1 time a year 50% (%) the frequency of is development 2 times a year 2 times a year 100% total 150% average 75% table 10 results of achieving the end of the performance of the it division perspective strategic objective measurement results category company contributions contribution of it functions 70% enough average 70% enough orientation increase user satisfaction 80% good develop user capacity 80% good developing cooperative relationships with users 82.5 good average 80,83% good internal process the time period for making a price quote from each sales team 80% good the time period for issuing pos for the procurement of goods and services from procurement to suppliers 80% good average 80% good future orientation actualization between training planning, taking certification 50% very good actualization in the is development 100% very good average 75% good total 317,50 overall average 79,37 good it balanced scorecard analysis is used to evaluate the performance and contribution of it to ep-tec solutions indonesia so that it can provide understanding to businesses regarding it performance and can optimize existing is/it. this evaluation begins by aligning the company’s vision and mission, and strategy with vision; it mission, and strategy. after that, an it strategic map is arranged, which is divided into four perspectives that are then determined by strategic measures, targets to be achieved, and recommendations for initiatives to improve the effectiveness and efficiency of eptec solutions indonesia. the recommendations of bsc it initiatives and is/it support are determined based on conclusions from the final achievement results in the previous sub-chapter, which can be used to improve the performance of the it ep-tec solutions indonesia division. at present, the business strategy that is being focused by pt ep-tec solutions indonesia is how to increase sales by presenting complete and accurate information to customers and improving the company’s internal activities to achieve service excellence. the business strategy recommendations of the si needed by pt ep-tec solutions indonesia are, the first is decision making system, or dss is a web-based application that plays a role in supporting and assisting management in making decisions in certain conditions by providing various alternative solutions. this application aims to increase the effectiveness and support of decisions taken, and overcome limitations and problems in data processing and storage. with this application, companies can simulate financial calculations and recruit prospective employees according to company criteria. this is intended so that top-level management can find out the problems and needs of the most influential companies, and prioritize strategies and steps to be taken. the second is based on the results of the analysis that has been done previously; it is known that ep82 journal the winners, vol. 20 no. 2, september 2019: 71-83 tec solutions indonesia needs to build an application for knowledge sharing. this application aims to improve the company’s knowledge management. with the implementation of kms in ep-tec solutions indonesia, it is expected that the implementation of organizational activities in managing knowledge as a very important asset. in various strategies, there is the distribution of the right knowledge to the right people in a fast time so that they can interact with each other, share knowledge, and apply it in daily work to improve organizational performance. all these problems and needs can certainly be answered and resolved by the existence of kms applications so that this initiative can help in the human resource section in terms of knowledge management; therefore, ep-tec solutions indonesia requires a kms application. the third is customer relationship management (crm). one of the current problems that occur related to customers is the absence of a system that can manage relationships with customers. to create customer satisfaction, ep-tec solutions indonesia must create and process a system to obtain more customers and also has the ability to retain loyal customers. along with current technological developments, especially cloud technology, it is already many other companies that provide crm that has been collaborated with cloud technology or software as a service (saas). given the many benefits obtained from these technologies, therefore, this cloud-crm solution will be able to answer these problems. conclusions based on the analysis, then the mapping of the future application portfolio will be carried out as a whole in pt ep-tec solutions indonesia using the mcfarlan strategic grid analysis. the recommendations for future applications portfolio includes (1) strategic; application recommendations are included in this quadrant, namely kms. the application is planned to facilitate independent learning and the discussion process in the forum. (2) high potential; the recommended applications are included in this quadrant are crm applications to support service quality in facilitating customer complaints, and dss is recommended to support the quality of decisions taken. (3) key operational; the company can apply office applications, company’s shared folder, web-based odoo sales, and office instant messenger application. (4) support; company website, multimedia application, network design application. after obtaining recommendations from the results of the analysis carried out, a schedule for the implementation of the proposed is/it is made. therefore, the planning schedule for the implementation is compiled at pt ep-tec solutions indonesia within the next three years (2019 2021). references al-aboud, f. n. (2011). strategic information systems planning: a brief review. ijcsns international journal of computer science and network security, 11(5), 179–183. retrieved from http://paper.ijcsns.org/07_book/201105/20110526.pdf. babafemi, i. d. (2015). corporate strategy, planning, and performance evaluation: a survey of literature. journal of management policies and practices, 3(1), 43-49. https://doi.org/10.15640/jmpp.v3n1a6. david, f. r. (2011). strategic management concepts: a competitive advantage approach. new jersey: pearson college. information system strategic …… (andry adrian tirana) 83 holt, c., & wolff, t. (2015). the community tool box, a comprehensive tool and a sample of what you will find there: community assessment methods conducting a swot analysis. global journal of community psychology practice, 6(1), 4–7. khani, n., nor, k. m., & bahrami, m. (2011). is/it capability and strategic information system planning (sisp) success. international management review, 7(2), 75–83. o’brein, j. (2006). pengantar sistem informasi: perspektif bisnis dan manajerial (12th ed.). jakarta: salemba empat. peppard, j., & ward, j. (2016). the strategic management of information systems: building a digital strategy. new jersye: wiley. sampurna, a. l., darmawan, a., & nugroho, h. w. (2015). the usage of ward and peppard method in is/it strategic plan compilation in dishubkominfo east lampung. in international conference on information technology and business. lampung, indonesia. pp 205–212. swierk, j., & mulawa, m. (2014). it balanced scorecard as a significant component of competitive and modern company. in management, knowledge, and learning international conference. portoroz, slovenia. pp 821-829. intellectual capital effect …… (kevin deniswara, et al.) 49 intellectual capital effect, financial performance, and firm value: an empirical evidence from real estate firm, in indonesia kevin deniswara1; ratu marwaah firhatil uyuun2; ang swat lin lindawati3; willnaldo4 1,2,3,4accounting department. binus graduate program master of accounting, bina nusantara university jl. kebon jeruk raya no. 27, kebon jeruk, jakarta 11530, indonesia 1kevindeniswara@gmail.com; 2ratumarwaah@gmail.com; 3lindawati@binus.edu; 4willnaldolim@gmail.com abstract this research aimed to analyze the impact of intellectual capital towards the firm’s financial performance and firm’s value. intellectual capital was measured by value added intellectual capital (vaic) which has three components, such as value added capital employed (vaca), value added human capital (vahu), and structural capital value added (stva). firm’s financial performance and firm’s value were measured by return on assets (roa), return on equity (roe), revenue growth (rg), and tobin’s q ratio. there were 102 observations of property and real estate company sector listed in indonesia stock exchange period 2014-2016 that was analyzed using the linear regression method. the results show that vaic has a significant impact towards financial performance and firm’s value, except revenue growth, which means that the firm’s ability to generate value added and also profit with total assets and equity increase if ic is managed properly. therefore, vaca is the only component of vaic that has a significant impact towards financial performance and firm’s value, except rg which means that the capital employed is already managed properly. keywords: intellectual capital, vaic, financial performance, firm’s value introduction since 2015, property and real estate sectors in indonesia are experiencing a slowdown. it is believed not to be a result from the inability of the public to purchase it, instead, they seek for the best property opportunities, as disclosed by the director of indonesia property watch, ali tranghanda (prabowo, 2017). align with ali tranghanda, hendro s gondokusumo, the chairman of pt intiland development, has stated that the people’s purchasing power is still exist, however people are more cautious in choosing the property they want to buy or invest by considering several things from the quality of the building, the design, until the features offered by the developer. currently, indonesia has become a modern country where the needs and lifestyle of society are growing very rapidly. it is resulting in a shift in trend over the needs of residential, office, shopping centers, as well as the facilities towards the digital innovation, the concept of eco-friendly and energy efficient, the concept of renewable energy, as well as attractive and unique designs. according to the ceo of properti indonesia magazine, said mustafa, the role of innovation and creativity in the property and real estate industries is crucial, especially in adapting to the digital era, so that property industry could continue to be a strategic, capitalintensive, technology-intensive, and long-term oriented investments (ventura, 2017). the director of research and consultancy savills indonesia, anton sitorus, has also said a similar thing. he has said that the properties that have unique and interesting concepts followed by a clear and focused market segments are very likely to be more accepted in the modern market era and will not be vulnerable to the crisis (rinaldi, 2017). mailto:kevindeniswara@gmail.com mailto:ratumarwaah@gmail.com mailto:lindawati@binus.edu mailto:willnaldolim@gmail.com 50 journal the winners, vol. 20 no. 1, march 2019: 49-60 property and real estate companies are currently competing and striving to innovate and property and real estate companies are currently competing and striving to innovate and harmonize market demands, technological advances, and the development of information systems with products such as the construction of office buildings, housing, apartments, shopping malls, and other public facilities that offer to the market. businesspeople are more aware that transition to the knowledge-based business from the labor-based business is needed due to the fact that the factors of competitiveness does not lie on tangible assets anymore, but instead it depends on innovation, information system and technology, organizational management, and human resources (sawarjuwono & kadir in thaib, 2013). the intense competition creates the needs for new tools that could assist the company to have a competitive advantage over its products that are available in the market. one of the tools is an intangible asset that includes significant knowledge, innovation, customer relations, research, trademarks, and copyrights right, which are currently more important resource than the tangible assets (volkov & garanina, 2007). intangible assets are considered as the intellectual capital owned by the company. according to chen et al. (in widyaningdyah, 2013), intellectual capital is a key resource and driver for performance and value creation. in modern economies, the intellectual capitals are considered a strategically important asset to organizational success (khan, 2014). intellectual capital has been widely known by many researchers as an important strategic asset in evaluating organizational performance in both developing and developed countries (hashim, osman, & alhabshi, 2015). financial performance is a depiction of the company’s financial condition and also act as the indicator to show the company’s performance in a certain period, which is obtained by using financial analysis tools. the view that intellectual capital affects the company’s performance is based on resource-based theory (rbt) which states that companies that are capable in managing resources and knowledge well will have the competitive advantages that affect the company’s performance. then, this view is also supported by stakeholder theory that governs the relationship between the company’s management and its stakeholders, the better the company’s management in managing the resources, the higher the value added produced by the company, which consequently encourage the financial performance of the company (herdyanto & nasir, 2013). according to edvinson and malone (in sunarsih & mendra, 2012), one of the advantages of intellectual capital is to act as a tool to determine corporate value. corresponding to that statement, when the company is considered to have value, then it means that the company is valuable, which is align with the company’s long term objectives to maximize the company’s values. research that utilizes intellectual capital efficiently will cause its market value to increase. this is supported by the resourcebased theory which elaborated that the improvement of firm’s value can be achieved through effective utilization and management of resources; hence it is capable of achieving the competitive advantage that encourages the increase in firm’s value (puspita, 2016). stakeholder theory also explains the relationship between intellectual capital and firm’s value, which is maximizing the resources owned by the company efficiently that will cause the escalation in the value of the company and at the same time generate profits for the stakeholders (ulum, ghozali, & chariri, 2008 in sudibya & restuti, 2014). in their research, chen, cheng, and hwang (2005) have used data of taiwan’s listed companies and proves that intellectual capital has a positive correlation with market value and financial performance. the research conducted by fajarini and firmansyah (2012); ulum, ghozali, and chariri (2008); sunarsih and mendra (2012); and sudibya and restuti (2014) have also found that intellectual capital has a positive effect on financial performance. however, different results are shown in firer and williams’ (2003) research that using data from 75 public trading firms in south africa. it does not find a strong relationship between intellectual capital and corporate profitability. in addition, sunarsih and mendra (2012) in their research have also failed to prove that intellectual capital has a positive effect on the market value of the company. the existence of these differences encourages the authors to conduct the research to test whether intellectual capital in the property and real estate sectors is a significant intellectual capital effect …… (kevin deniswara, et al.) 51 element that can drive the financial performance and the value of the company or instead does not give any impact at all. this research uses a stakeholder theory to explain the relationship between corporate management and its stakeholders, whose main objective is to assist corporate management in enhancing value creation from the activities the company undertakes in minimizing possible losses for corporate stakeholders (ulum, ghozali, & chariri, 2008 in calista, 2014). stakeholder theory explains the entire activities of the company leads to the value creation, which is the better a company in maximizing the potential from both tangible and intangible assets, the higher the value added can be generated by the company (herdyanto & nasir, 2013). value creation could also improve the company’s financial performance and as the effect, it also generates profits for the shareholders, however, to be able to achieve that management need to manage all the company’s resources, which includes employees (human capital), physical assets (physical capital), and structural capital (ulum, ghozali, & chariri, 2008 in sudibya & restuti 2014). resource-based theory (rbt) has also elaborated how companies can manage and utilize their resources to achieve competitive advantage and to have superior sustainable performance. in other words, this theory believes that the company will achieve excellence if it has excellent resources (solikhah and rohman in puspita, 2016). according to susanto (in calista, 2014), the combination of resource advantages owned, either tangible or intangible assets, and the ability to manage these resources effectively and efficiently creates the distinctive competencies to a company, therefore, company is able to have competitive advantage compare to its competitors. the idea of intellectual capital affects financial performance, and corporate value is consistent with the rbt theory that suggests the firms identify and manage their resources effectively (abdullah & sofian, 2012) to achieve competitive advantage and good financial performance that will increase firm’s value (puspita, 2016). the international federation of accountants (ifac) (in sudibya & restuti, 2014) defines intellectual capital as an intellectual property, intellectual asset, knowledge asset that can be interpreted as a capital, which based on knowledge owned by the company, and a knowledge resource that will be profitable for the company in the future if it is used properly. according to practitioners, the intellectual model consists of three main elements (stewart, 1998; sveiby, 1997; saint-onge, 1996; bontis 2000; in sudibya & restuti, 2014), which are human capital, structural capital or organizational capital, and relational capital or customer capital. human capital is considered as the main component of intellectual capital, which includes knowledge, skills, competencies, experience, innovations, educational level, and creativity owned by employees. structural capital consists of the entire storage of non-human knowledge, such as databases, business processes, business strategies, corporate culture, operational procedures, corporate policies, and information technology. on the other hand, relational capital is an intellectual capital component that is based on the relationship between the company and its customers, which includes marketing channels, customer relationships, supplier relationships, consumer loyalty, government and industry networks, and intermediaries or partners (roos et al., 2005 in abdullah & sofian, 2012). moreover, pulic in sudibya and restuti (2014) has introduced value added intellectual coefficient (vaic) as an intellectual capital measurement to assess the efficiency of value added as a result of the company’s intellectual capabilities (sudibya & restuti, 2014). the advantage of pulic’s method is the ease of data acquisition used in research. intellectual ability (then called vaic) shows the efficiency of how the company utilizes all their resources, physical capital, and intellectual potential. there are three company’s resources that are the main components of the vaic, which are the physical capital (value added capital employed-vaca), human capital (value added human capital vahu), and structural capital value added (stva). vaca is a ratio that shows the contribution made by each unit of the capital employed (ce) to the value-added organization. vahu is an indicator of the value-added efficiency of human capital which indicates the ability of labor to generate value for the company from the funds spent to become the workforce (ulum in sudibya & restuti, 2014). 52 journal the winners, vol. 20 no. 1, march 2019: 49-60 meanwhile, stva shows the contribution of structural capital (sc) in value creation (fajarini & firmansyah, 2012). methods the population used in this research is the property and real estate companies listed on the indonesia stock exchange in 2014-2016. the sampling technique used is the purposive sampling method that is a sampling method which done deliberately based on the certain criterion in accordance with data and information needed for research interest. the criteria in sample selection are companies belong to property and real estate sector listed in indonesia stock exchange year 2014-2016, not delisted from indonesia stock exchange during the year of research, and companies which have done ipo (initial public offering) before year of research and does not occur in the middle of the research period, the sample company has total positive equity and positive net profit during the year, and the sample company is engaged in pure property and real estate field, which is not a company with a combination of business types outside the sector. the type of research that will be conducted is quantitative research with secondary data obtained from the official website of indonesia stock exchange (www.idx.co.id), furthermore, the data obtained in the form of annual audited financial statements. the examples are statement of profit and loss, statement of financial position, and notes to the financial statements, whose data are total assets, total liabilities, total equity, net income for the current year, income, operating expenses, the number of outstanding shares and the closing price which will be processed using the statistical calculation technique. the independent variables in this research are vaca, vahu, stva, and vaic. meanwhile, the dependent variable in this research is financial performance measured by roa (return on asset), roe (return on equity), rg (revenue growth), and the company’s value as measured by using tobin’s q. the model of data analysis used in this research is multiple linear regression model that is used to determine the relationship between variables independent with the dependent variable with the form of the regression model as follows: model 1: roa = α0 + β1 vaca + β2 vahu + β3 stva + ε model 2: roe = α0 + β1 vaca + β2 vahu + β3 stva + ε model 3: rg = α0 + β1 vaca + β2 vahu + β3 stva + ε model 4: q = α0 + β1 vaca + β2 vahu + β3 stva + ε based on the background, identified problems, supporting theory and previous research, the research hypothesis are: h1a : vaic have a significant influence on roa h1b : vaic have a significant influence on roe h1c : vaic have a significant influence on rg h2a : vaca, vahu, and stva have a significant influence on roa h2b : vaca, vahu, and stva have significant influences on roe h2c : vaca, vahu, and stva have significant influences on rg h3 : vaic have significant influences on corporate values (tobin’s q) h4 : vaca, vahu, and stva have significant influences on corporate value (tobin’s q) intellectual capital effect …… (kevin deniswara, et al.) 53 results and discussions the results of the descriptive analysis of this research can be seen in table 1. descriptive analysis is used to provide an overview of research variables. measurements used in this research are mean, minimum value, maximum value, and standard deviation. table 1 descriptive analysis n minimum maximum mean median std. deviation roa 102 0,00 0,20 0,0586 0,047689 0,03848 roe 102 0,00 0,32 0,1181 0,107262 0,07032 rg 102 -0,65 1,16 0,0768 0,052278 0,26517 q 102 0,32 2,57 1,1751 1,116881 0,45782 vaca 102 0,01 0,64 0,1683 1,518727 0,09340 vahu 102 1,35 27,97 5,8505 4,782911 4,59451 stva 102 0,26 0,96 0,7292 0,780744 0,16093 vaic 102 1,66 29,21 6,7480 5,723928 4,70730 valid n (listwise) 102 sources: data processed (2018) assumption test is intended to see whether the linear regression model used for hypothesis testing has fulfilled blue (best linear unbiased estimator) assumption in making interval estimation and regression parameter test. this test is done by conducting normality test, multicollinearity test, heteroscedasticity test, and autocorrelation test against 102 research observations with financial performance proxies with return on assets, return on equity and revenue growth, as well as firm’s value projected by tobin’s q as the dependent variable. followed by, the vaic and its three components are vaca, vahu, and stva as independent variables. the result of kolmogorov-smirnov (k-s) test for the four regression models in table 2 shows that the data is normally distributed because the value of significance is more than α = 0,05; hence it can be concluded that the data is normally distributed. table 2 summary of normality test result (kolmogorov-smirnov test) no regression model kolmogorovsmirnov z significance value k-s data distribution 1 roa = α + β1 vaca + β2 vahu + β3 stva + ε 0,803 0,540 normal 2 roe = α + β1 vaca + β2 vahu + β3 stva + ε 0,823 0,508 normal 3 rg = α + β1 vaca + β2 vahu + β3 stva + ε 1,134 0,153 normal 4 q = α + β1 vaca + β2 vahu + β3 stva + ε 0,727 0,667 normal sources: data processed (2018) based on table 3 the result of multicollinearity test shows that a tolerance value greater than 0,1 and a vif (variance inflation factor) value of less than 10, thus indicating that there is no multicollinearity among independent variables, i.e. vaca, vahu, and stva in a multiple linear regression model. 54 journal the winners, vol. 20 no. 1, march 2019: 49-60 table 3 summary of multicollinearities test result on model regression multiple linier model collinearity statistics tolerance vif (constant) 1 vaca1 0,839 1,193 vahu1 0,220 4,553 stva1 0,231 4,321 source: data processed (2018) table 4 summary of heteroskedasticities (glesjer test) result regression model dependent variable independent variable significance value variance 1 roa vaca 0,272 homogeneous vahu 0,657 homogeneous stva 0,488 homogeneous 2 roe vaca 0,692 homogeneous vahu 0,888 homogeneous stva 0,710 homogeneous 3 rg vaca 0,954 homogeneous vahu 0,805 homogeneous stva 0,859 homogeneous 4 q vaca 0,262 homogeneous vahu 0,853 homogeneous stva 0,986 homogeneous sources: data processed (2018) from all results of heteroskedasticity test which have been done, authors can conclude that there is no uniformity of variance in the regression model from one observation’s residual to other observation, in the other word the variance is homogeneous. table 5 summary of autocorrelation (durbin-watson test) result no regression model durbin watson autocorrelation 1 roa = α + β1 vaca + β2 vahu + β3 stva + ε 1,97 no correlation 2 roe = α + β1 vaca + β2 vahu + β3 stva + ε 2,04 no correlation 3 rg = α + β1 vaca + β2 vahu + β3 stva + ε 2,00 no correlation 4 q = α + β1 vaca + β2 vahu + β3 stva + ε 1,93 no correlation sources: data processed (2018) from all results of heteroskedasticity test, it can be concluded that in the linear regression model, there is no correlation between errors in t period with disturbance error in period t-1 or previous period. intellectual capital effect …… (kevin deniswara, et al.) 55 according to ghozali (2013), the statistical t-test basically shows the extent of the influence of one independent variable individually in explaining the dependent variable. the testing is conducting by using a significant level of 0,05 (α = 5%). table 6 summary of the t-statistical test result regression model dependent variable independent variable significance value impact 1 roa vaic 0,000 significant 2 roe vaic 0,000 significant 3 rg vaic 0,134 insignificant 4 q vaic 0,000 significant 5 roa vaca 0,000 significant vahu 0,680 insignificant stva 0,121 insignificant 6 roe vaca 0,000 significant vahu 0,421 insignificant stva 0,099 insignificant 7 rg vaca 0,064 insignificant vahu 0,323 insignificant stva 0,623 insignificant 8 q vaca 0,000 significant vahu 0,488 insignificant stva 0,554 insignificant sources: data processed (2018) according to ghozali (2013), f statistical test basically shows whether all independent variable that included in the model has a joint effect on the dependent variable. table 7 summary of f statistic test result regression model significance value impact roa = α + β1 vaca + β2 vahu + β3 stva + ε 0,00 significant roe = α + β1 vaca + β2 vahu + β3 stva + ε 0,00 significant rg = α + β1 vaca + β2 vahu + β3 stva + ε 0,99 insignificant q = α + β1 vaca + β2 vahu + β3 stva + ε 0,00 significant sources: data processed (2018) the determinant coefficient test (adjusted r2) is used to measure the extent of the capability of the model in explaining the variation of bound variables (ghozali, 2013). the small adjusted value of r2 indicates that the capability of independent variables is limited in explaining the variation of independent variables. a value close to one means the independent variables provide almost all the information needed to predict the variation of the dependent variable. 56 journal the winners, vol. 20 no. 1, march 2019: 49-60 table 8 summary of coefficients determination test result no regression model adj. r2 1 roa = α + β1 vaca + β2 vahu + β3 stva + ε 74,6% 2 roe = α + β1 vaca + β2 vahu + β3 stva + ε 739% 3 rg = α + β1 vaca + β2 vahu + β3 stva + ε 5,3% 4 q = α + β1 vaca + β2 vahu + β3 stva + ε 33,1% sources: data processed (2018) table 8 shows a summary of the coefficient determination test result that measures the extent of the capability of the linear regression model in describing the variation of the dependent variable. it shows that regression model 1 has an adjusted value of r2 of 74,6%, which indicates that 74,6% of the value of roa can be explained by independent variables in the regression model. furthermore, the regression model 2-4 has an adjusted r2 of 73,9%, 5,3%, and 33,1%, respectively, indicating that 73,9% of the roe value, 5,3% of rg, and 33,1% of tobin’s q values are capable to be explained by independent variables, which are vaca, vahu, stva. h1a is when the vaic has a significant effect on roa. based on the results of f test in table 7, it can be concluded that the vaic as a whole, which are vaca, vahu, and stva simultaneously have a significant effect on roa. it is indicated through the significance value of 0,00 smaller or less than α = 0,05 that is 0,00; therefore, h0 is rejected and h1a accepted. the result of this hypothesis testing is in accordance with research conducted by chen, cheng, and hwang (2005); ulum, ghozali, and chariri (2008); and fajarini and firmansyah (2012), which indicates that intellectual capital has a positive effect on the profitability of companies proxied by roa. so it can be concluded that this research is also aligned with the stakeholder theory which explains that the better management in managing the resources within the company, the more effective and efficient ic utilization are able to drive the performance of the company (herdyanto & nasir, 2013). in addition, the result also aligns with the resource-based theory, which explains that the good ic management as a company resource will create added value that affects the financial performance, in this case, the return on assets of the company. h1b is when the vaic has a significant effect on roe. based on the results of f test in table 7, it can be concluded that the vaic as a whole, which are vaca, vahu, stva have a significant effect on roe which is indicated through significance value of 0,00 smaller or less than α = 0,05, therefore, that h0 is rejected and h1b accepted. the result of this research aligns with the research conducted by chen, cheng, and hwang (2005); and thaib (2007), which show the use of intellectual capital has an effect on the increase of roe of the company. this result is also aligned with the research conducted by sunarsih and mendra (2012); and sudibya and restuti (2014) that show ic has a positive effect on financial performance. h1c is when the vaic has a significant effect on rg. based on the results of f test in table 7, it can be concluded that the vaic as a whole, which are vaca, vahu, and stva have a significant effect on rg that is shown by significance value of 0,99 is bigger or less than α = 0,05; therefore, h0 accepted. it indicates that collectively in forming vaic, vaca, vahu, and stva do not have influence significantly to rg as a dependent variable in the sample of property and real estate company. this research is not in line with the results of the research conducted by chen, cheng, and hwang (2005) that proves the intellectual capital (vaic) affects the growth of corporate earnings, which indicates that the management of intellectual capital is able to boost the level of sales, which eventually will increase revenue growth. intellectual capital effect …… (kevin deniswara, et al.) 57 h2a is where the vaca, vahu, and stva have a significant effect on roa. based on table 6, the result of statistical test t on the regression model shows that vaca individually has a significant effect to roa which is indicated through vaca significance value of 0,00 that is less than α = 0,05; therefore, h0 is rejected. it is indicated that vaca as an independent variable individually has a significant influence on roa as a dependent variable. then, the vahu and stva individually do not significantly affect the roa that is shown through the value of vahu and stva significance greater than α = 0,05 that is respectively 0,680 and 0,121; therefore, h0 is accepted. this is indicated that vahu and stva individually do not affect the significant effect on roa. h2b is when the vaca, vahu, and stva have a significant effect on roe. based on table 6, the result of statistical test t on the regression model shows that vaca individually has significance to roe that is shown through vaca significance value of 0,00 is less than α = 0,05; therefore, h0 is rejected. this is indicated that vaca individually has significant influence against roe. furthermore, vahu and stva individually do not significantly affect the roe that is shown through the vahu and stva significance values greater than α = 0,05 that are 0,421 and 0,099 respectively, therefore, h0 is accepted. this is indicated that the independent variables individually do not affect the significant influence on the dependent variable on the sample company property and real estate. h2c is when the vaca, vahu, and stva have a significant effect on rg. based on table 6, the t-test results show that vaca, vahu, and stva individually have no significant effect on rg, which is shown through significance value of vaca, vahu, and stva of 0,064; 0,323; and 0,623 are greater than α = 0,05; therefore h0 is accepted and h2c is rejected. it is indicated that the independent variable individually does not have a significant influence on the dependent variable. this research is in line with the results of putri and purwanto’s (2013) research that shows the vaca, vahu, and stva individually do not affect the rg in the sample of the property and real estate companies. h3 is when vaic has a significant effect on corporate value (tobin’s q). based on the results of f test in table 7, it can be concluded that the vaic as a whole, which are vaca, vahu, stva simultaneous have significant effect on tobin’s q which is shown through the value of significance of 0,00 smaller or less than α = 0,05, therefore h0 is rejected and h3 is accepted. it is indicated that vaca, vahu, and stva together in forming vaic have a significant influence on the value of the company as a dependent variable on the sample of property and real estate companies. the results of this research is in line with the results of research conducted by chen, cheng, and hwang (2005) and sudibya and restuti (2014), that shows vaic has significant influence to company value, however, it is inconsistent with the result of research conducted by sunarsih and mendra (2012). the results of this research are supported by edvinsson and malone’s (1997) opinion that has stated companies that are capable in utilizing their intellectual capital efficiently, will increase their market; hence it can be concluded that the sample of property and real estate companies have been utilizing the ic efficiently. h4 is when the vaca, vahu, and stva have a significant effect on corporate value (tobin’s q). based on table 6, the t-test results indicate that vaca individually has significant influences on tobin’s q, which is indicated through the value of vaca significance of 0,00 is less than α = 0,05; therefore, h0 is rejected. it is indicated that the independent variable individually has a significant influence on the dependent variable. then, vahu and stva individually have no significant effect on tobin’s q, which is indicated through the vahu and stva significance value of 0,488 and 0,554 greater than α = 0,05, therefore, h0 is accepted. it is indicated that the independent variable individually does not significantly affect the dependent variable on the sample of property and real estate companies. 58 journal the winners, vol. 20 no. 1, march 2019: 49-60 conclusions based on the hypothesis test result, intellectual capital measured by vaic has a significant influence on financial performance, especially to roa and roe, whereas vaic does not have a significant effect on rg in the property and real estate sector. this is indicated that the company’s ability to generate profits with total assets and total equity owned by the company will increase if the company can manage and utilize ic resources well. however, rg is not affected by the efficiency of good corporate ic management. the results of the hypothesis test of the three vaic components measured by vaca, vahu, and stva shows that only vaca has significant effects on the financial performance of roa and roe. this indicates that the sample of the property and real estate sector companies has utilized the available funds (capital employed) that they have properly, hence it is able to improve the financial performance of roa and roe. the three vaic components have no significant effect on the rg so it can be concluded that the management of the three components of intellectual capital does not affect the growth of income of the sample property and real estate companies. furthermore, the test results indicate that the vaic significantly influence the value of the company (tobin’s q), so it can be concluded that the management and utilization of intellectual capital is better than the higher the value added created by the company to encourage the increase of corporate value in the sample of property and real estate companies. however, the test results that conducted to all three vaic components show that only vaca has a significant effect on the firm’s value, while vahu and stva have no significant effect on the firm’s value. returning to the purpose of this research to identify whether ics in the property and real estate sectors are an important part that drives the company’s financial performance and value, it can be concluded that the property and real estate sectors are experiencing a slowdown over the course of the research period. it is occurred due to the firms prioritize the management and efficiency of available capital (capital-employed) funds rather than efficiency in the utilization of human capital and structural capital. however, it cannot be said that the company does not perform any management for human resources and structural capital, because when it is viewed as a whole, vaic can affect the financial performance and value of the company. moreover, good management of human resources and structural capital should be improved so that it does not emphasize the efficiency of available funds (capital employed). along with good human resource management, employee’s skills, competencies, creativity, and innovation can contribute to value creation which supported by good structural capital management of information systems, procedures, management strategies, and organizational culture that can support employee efforts to execute optimal performance, which eventually provide added value to the company. according to the results of this research, there are some suggestions to improve future research, which are: the research should use the solid and non-solid enterprise classification of intellectual capital (ic). therefore the future research could identify and compare whether intellectual capital is useful and affect the financial performance and firm’s value in solid and non-solid ic company. furthermore, the suggestion for the management of the property and real estate companies is to utilize the intellectual capital they owned as a whole and try to manage the efficiency of the three components of the intellectual capital. this is intended so that in the tight competition in the property and real estate sector, which have weakened before, companies can create added value so that it can compete in their business activities that can boost the improvement in financial performance and corporate value which is the main goal of each company. intellectual capital effect …… (kevin deniswara, et al.) 59 references abdullah, d., & sofian, s. 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(2013). intellectual capital dan keunggulan kompetitif (studi empiris perusahaan manufaktur versi jakarta stock industrial classification jasica). jurnal akuntansi dan keuangan, 15(1), 1-14. economic, business, management, and information system journal volume 5, nomor 2, september 2004 issn: 1412 1212 pelindung dr. th. widia soerjaningsih once kurniawan, s.kom., m.m. ir. bahtiar s. abbas, m.sc., ph.d. redaktur utama prof. dr. gerardus polla, m.app.sc. dewan redaksi antonius herusetya s.e., m.m., ak. parulian sihotang, ak., m.acc., ph.d. ir. harjanto prabowo, m.m. e.a. kuncoro, s.e., m.m. mitra bestari dr. hekinus manao, m.acc., c.g.f.m. (universitas indonesia) dr. sudarwan, m.b.a., q.i.a. (universitas trisakti) dr. ir. roy sembel, m.b.a. (program pascasarjana universitas bina nusantara) edi timbul hardiyanto, s.e., ak., m.sc., m.b.a., b.a.p (institut pendidikan internal auditor indonesia) dr. suroso isnandar, m.sc. (university of abertay, united kingdom) marien van den boom, ph.d. (inholland university, the netherlands) editor dra. endang ernawati, m.lib. titik rahayu s., s.s. david andriansyah, s.hum. sekretariat hery h.m., s.kom. harkat christian zamasi holil alamat sekretariat subcenter publikasi ilmiah bidang ekonomi, center of research and publication, universitas bina nusantara jl. kebon jeruk raya no. 27, kemanggisan, jakarta barat 11530 telp. (021) 5345830, 5350660 ext. 1706 fax. (021) 5300244 e-mail: heryhm@binus.ac.id issn 1412-1212 subcenter publikasi ilmiah bidang ekonomi universitas bina nusantara economic, business, management, and information system journal volume 5, nomor 2, september 2004 issn: 1412 1212 daftar isi kata pengantar................................................................................................................... v th. widia soerjaningsih peningkatan mutu proses perguruan tinggi melalui sistem mutu iso 9000 (quality improvement of college proccess through iso 9000 quality system)................ 79-89 engkos achmad kuncoro renovasi sistem menuju ekonomi rakyat berkeadilan (system renovation toward a justified public economy)...................................................... 90107 bagus sumargo pendidikan bisnis, bisnis pendidikan (business education, education business)................................................................................ 108-113 harjanto prabowo; bahtiar saleh abbas; meyliana studi tentang pengaruh penggunaan teknologi dan sistem informasi, sistem manajemen mutu, dan budaya organisasi terhadap kinerja manajemen perguruan tinggi swasta: studi kasus universitas bina nusantara (a study on the impacts of technology information system, quality management system, and organization culture on private college management performance: a case study of bina nusantara university)........................... 114136 adang sudjana pengaruh metode pencatatan perpetual inventory method dan physical inventory method terhadap laba fiskal dalam uu pajak penghasilan (the impacts of recording method of perpetual inventory and physical inventory methods on tax profit regulation).................................................. 137142 th. widia soerjaningsih teaching leadership using concept map: a case study for the relationship between manager and leader....................................................................................................... 143-148 s. liawatimena; johan; selamat analisis strategi pemasaran terhadap tingkat kepuasan pelanggan ojolali.com kata pengantar journal the winners untuk penerbitan vol. 5 no. 2, september 2004 berisi tujuh artikel yang membahas masalah peningkatan mutu proses perguruan tinggi melalui sistem mutu iso 9000, renovasi sistem menuju ekonomi rakyat berkeadilan, pendidikan bisnis, bisnis pendidikan, studi tentang pengaruh penggunaan teknologi dan sistem informasi, sistem manajemen mutu, dan budaya organisasi terhadap kinerja manajemen perguruan tinggi swasta: studi kasus universitas bina nusantara, pengaruh metode pencatatan perpetual inventory method dan physical inventory method terhadap laba fiskal dalam uu pajak penghasilan, teaching leadership using a concept map: case study for relation between manager and leader, dan analisis strategi pemasaran terhadap tingkat kepuasan pelanggan ojolali.com. journal the winners ini merupakan hasil kerja penulis, tim redaksi, dan partisipasi segenap civitas akademika yang menekuni bidang economic, business, management, and information system journal. mudah-mudahan jurnal ini bermanfaat bagi pembaca. jakarta, september 2004 redaktur utama prof. dr. gerardus polla, m.app.sc. in pr es s *corresponding author p-issn: 1412-1212 e-issn: 2541-2388 13 the winners, 24(1), june 2023, 13-21 doi: 10.21512/tw.v24i1.9700 the network externality as a mediator on business growth: an empirical study of the multilevel marketing industry in indonesia asnan furinto1*; thamrin selamet2; pantri heriyati3; tirta nugraha mursitama4; mohammad ichsan5 1,3management department, binus business school doctor of research in management, bina nusantara university jl. kebon jeruk raya no. 27, kebon jeruk, jakarta barat 11530 4international relations department, faculty of humanities, bina nusantara university jl. kemanggisan ilir iii no. 45, palmerah, jakarta barat 11480, indonesia 2,5management department, binus business school undergraduate program, bina nusantara university jl. kebon jeruk raya no. 27, kebon jeruk, jakarta barat 11530 1afurinto@binus.edu; 2thamrin.selamet@binus.ac.id; 3pheriyati@binus.edu; 4tmursitama@binus.edu; 5mohammad.ichsan@binus.edu received: 04th march 2023/ revised: 07th june 2023/ accepted: 19th june 2023 how to cite: furinto, a., selamet, t., heriyati, p., mursitama, t. n., & ichsan, m. (2023). the network externality as a mediator on business growth: an empirical study of the multilevel marketing industry in indonesia. the winners, 24(1), 13-21. https://doi.org/10.21512/tw.v24i1.9700 abstract the mlm business became a more dynamic and competitive environment that drives companies to be sustainable in their business. however, the practices were sometimes perceived to be challenging by some of them. the research aimed to determine the role of network externality on business growth in the network marketing industry, often called multilevel marketing (mlm) industry. with a nonprobability sampling approach, the data were collected using structured questionnaires that are sent through emails or hardcopy. the collected data were analyzed using the pls-sem method with smartpls software. the results reveal that network externalities fully mediate both digital adoption capabilities and strategic agility to sustainable business growth. meanwhile, network externality partially mediates the perceived product advantage to sustainable business growth. the result shall be taken into action by the companies as a key strategy in performing their business. keywords: digital adoption capability, strategic agility, sustainable business growth, network externalities i. introduction due to the dynamic and competitive nature of today’s mlm business environment, most business growth is formed from adding new members. this poses an innovative challenge as a strategy to achieve their business growth goals (nuryakin, 2020). improve business growth performance (zhou et al., 2021), which is seen as an effort to create value. mlm companies are faced with endless challenges in adopting new ways of thinking in empowering their members. pratono (2018) has provided a new way of thinking related to systems of training, development, motivation, and retaining partners to develop sustainable and profitable enterprise growth solutions. if business growth adopts strategies to train, develop, motivate, and retain independent partners and is implemented effectively, then the mlm company is able to maintain the survival of the organization and its members. however, in reality, there are still many mlm companies that go bankrupt. the latest data from (wfdsa annual report, 2020), shows that sales volume has decreased, raising doubts whether this theory can be confirmed in indonesia or not. data from the sub-directorate of franchising and direct selling of the ministry of trade of the republic of indonesia shows that this problem is getting worse because many mlm companies are unable to provide sales training effectively due to a lack of funds to hire a team of professional trainers. for example, other researchers (bos-nehles & veenendaal, 2019; somu et al., 2020) show that in the training and development dimension, many mlm companies have difficulty obtaining training and develop capabilities to enhance the required skills. another problem also arises in the loss of mlm companies which often have an impact on the problem of the compensation and reward system. from the internal side of the company, in pr es s 14 the winners, vol. 24 no. 1 june 2023, 13-21 there are also problems related to the dimension of supportive supervision (bos-nehles & veenendaal, 2019), mainly due to managers and directorates who rarely organize programs that focus on increasing member motivation, routine communication skills, and sales targets, to capability development. in particular, previous studies have shown that strategic sensitivity, resource fluidity and leadership unity are three strong dimensions that support strategic agility (clauss et al., 2019; debellis et al., 2020; doz, 2020). the influence of strategic agility on company performance has been tested in various industries, it was found that previous research shows inconsistent results from existing research that strategic agility did not affect company performance (khan & wisner, 2019; reed, 2020). various studies say that network externalities affect company performance in the it and communication industry (cen & li, 2019; yao et al., 2020), because according to the nature of the mlm business model, the researcher will test the potential influence of network externalities on the business growth of mlm companies which has rarely been tested empirically in the previous mlm industry. previous research reveals that for legitimate mlm companies, commissions are only obtained from selling the company’s products or services, not from registration or recruiting new members (malshe & krush, 2020). elements of products and relationships affect the effectiveness of direct sales (poon & albaum, 2019). various benefits, advantages and perceived product value are perceived product advantages by users which are important factors in business deployment and development (goto et al., 2019; kaczorowska et al.) various companies. this shows that in recent years, mlm issues related to partner development orientation in the mlm business model have attracted a lot of attention from academics and practitioners in the context of how to sustain business growth. at the same time, over time, the concept of partner development orientation is perceived in different dimensions between managers and researchers. however, other researchers point out that the weakness of mlm companies tends to focus on low digital adoption capability which is characterized by the company’s lack of ability and capacity to use digital technology for business and service provision. in fact, other researchers argue that the perceived product advantage among mlm members who are also product consumers is also questionable in terms of company and product quality. several researchers highlight the importance of the company’s level of trust in the superiority, quality, benefits, and value of products marketed to customers (goto et al., 2019; healy et al., 2018). even other researchers consider that companies that are aware of the benefits of products for consumers show that the company’s understanding of quality is higher than competing products so that companies can be closer to consumers to provide services and solutions that are beneficial to customers. at the same time, several studies have analyzed the beneficial impact of maximizing flexibility in the face of new developments, continuously innovating and adjusting the company’s strategic direction with rapid changes so as to improve the company’s overall performance (lungu, 2020). this issue has been redefined as strategic agility in the mlm sphere. however, with the development of sustainability issues, it has gained a very important momentum for the mlm industry to rapidly increase. with many authors identifying the importance of business partners and members as the main drivers of sustainable business growth, new ideas about the influence of network externalities are emerging that attract more attention in academic and industrial organizations, but still tend to be theoretical rather than empirical. this is evident in previous studies on sustainability discourse, which investigated the meaningful relationship between network externalities and business sustainability. network externalities have been recognized for some time as an important determinant of business and social change in response to the increasing complexity of the mlm business environment in which businesses operate. similarly, mlm researchers focus on developing products related to the interests of network externalities that are lower priced but functionally appropriate to meet the needs of mlm members with limited purchasing power in resource-constrained developing countries. despite significant strong attention to the drivers of network externalities towards sustainability, little or no empirical knowledge about the mediating role of network externalities in business models and business growth performance as an important measure is discussed in the study. the research aims to determine the role network externality on sustainable business growth and the effect of digital adoption capability, strategic agility and perceived product advantage on sustainability business growth mediated by network externality. low managerial quality, lack of ict skills and policies that limit market access, competition in services, hiring and firing, and availability of venture capital are associated with lower adoption of digital technologies (nicoletti et al., 2020). in the field of politics that has explored the practice of digital adoption in the labor party to examine elite perceptions and applications of interactive digital tools, this study has shown evidence of interest among elites in interactivity (dommett, 2020). qualitative research that provides some advice to policy makers and technology suppliers on how to encourage digitalization adoption among smes, and also argues that digital adoption by smes stems from critical orientations, namely sales, marketing, process improvement, and product development so as to understand the need for digital adoption (lee, falahat, & sia, 2020). digitization refers to the adoption and application of digital technology by a company, summarizing the impact of digitization into three main areas, namely: 1) optimize existing activities, 2) facilitate input for new activities, and 3) create and in pr es s 15the network externality as a mediator .... (asnan furinto, et al.) maintain networks between various business partners. among the various digital technology options, smes must understand how they can leverage the technology to benefit (lee et al., 2020). hypothesis 1: digital adoption capability has a positive effect on the company’s sustainable business growth. how a digital platform affects network externalities (halaburda et al., 2020), meaningful managerial implications for online b2b service providers to build a loyal user base through increasing user perceptions of network externalities, switching costs, and value. a number of studies have confirmed evidence of the effect of direct network externalities in the digital environment, digital transformation and the influence of network externalities contribute to an increase in the number of subscribers, a reduction in the number of networks (distortion of market competition), and a decrease in telecommunications prices (radukić et al., 2020). previous research on network externalities is generally in the telecommunications sector (hung et al., 2020; mouakket & sun, 2019; na et al., 2019), social networking sites (hung et al., 2020; mouakket & sun, 2019), relating to digital technology (lyu, guo, & chen, 2023; pang, ruan, & wang, 2023). hypothesis 2: digital adoption capability has a positive effect on the company’s sustainable business growth through network externality previous mlm research shows that product innovation does not increase sustainable competitive advantage due to the absence of product exclusivity and special uniqueness because products are easy to obtain from oem and imported factories, malaysian mlm distributors consider that product innovation causes products to be expensive, complicated, difficult to sell, shared, and taught to their downlines (keong & dastane, 2019). yi et al. (2021), on mlm, found that perceived product value tends to affect consumer satisfaction. innovation capability can result in product excellence, brand value or sales growth, but product excellence does not have a significant effect on the company’s business performance (shih, 2018). in contrast to the results by arnett, sandvik, & sandvik (2018), showing that product excellence also makes organizations more effective, these results support previous research conducted on smes in central java, indonesia. hypothesis 3: perceived product advantage has a positive effect on the company’s sustainable business growth the product will be more useful and of more value if more people use it and recommend it to others. people’s desire to refer products and services to others if there are perceived benefits (cen & li, 2019; lee & joshi, 2020). in various studies investigating product advantages, they often focus on elements, such as quality, uniqueness, innovation, and performance (arnett et al., 2018). product excellence is significantly and positively related to market performance (mccartan, 2023). the research examines the perceived superiority of the product in mlm that supports the companys long-term business growth. perceived product advantage has also been shown to be an important factor in explaining the adoption and success of product offerings (arnett et al., 2018). it is suspected that the perception of product superiority greatly affects the effects of network externalities which ultimately increase the growth of the mlm business. hypothesis 4: perceived product advantage has a positive effect on the company’s sustainable business growth through network externality research conducted by (nurjaman et al., 2021) in the logistics service industry in indonesia using quantitative methods and purposive sampling methods to collect data, the results of research analysis found that the implementation of strategic agility can directly improve company performance. previous research was also conducted in turkey in the tourism industry focusing on transportation companies with quantitative methods, the results showed that strategic agility encourages and improves company performance (kale et al., 2019). there is also empirical research conducted on the higher education sector in malaysia which shows that strategic agility is seen as an important requirement for organizations to achieve superior organizational performance (chan & muthuveloo, 2019). hypothesis 5: strategic agility has a positive effect on the company's sustainable business growth several previous studies have shown that there are inconsistencies in research results regarding the relationship between strategic agility and business performance. there are studies that show the results of strategic agility have a positive and significant effect on business performance (chan & muthuveloo, 2019; kale et al., 2019; kurniawan et al., 2020; nurjaman et al., 2021) on the other hand, there are studies that show there is no positive effect between strategic agility and business performance (khan & wisner, 2019; reed, 2020). previous research has tested externalities. networking in it industry (lee & joshi, 2020; mouakket & sun, 2019), customer loyalty(hung et al., 2020), digital platforms (cen & li, 2019; halaburda et al., 2020; radukić et al., 2020), and the desire to provide recommendations for product use (bai et al., 2019). hypothesis 6: network externality are proven to mediate the relationship of strategic agility to the company's sustainable business growth bai et al. (2019) empirically compares the effects in pr es s 16 the winners, vol. 24 no. 1 june 2023, 13-21 of network externalities on customer recommendations between luxury and necessity products. to verify the hypothesis, data are collected from 539 consumers. empirical results show that for luxury and necessity products, direct network externalities have a positive impact on customer recommendations, while network externalities have an indirect negative impact on customer recommendations. research on network externalities of 251 users of social networking sites in china, shows that network size does not affect the perceived usefulness of social networking sites, which indicates that users of social networking sites in china do not need to consider the reference network size to increase the benefits they receive perceived usefulness of the site (mouakket & sun, 2019). na et al. (2019) also show that the correlation between network externalities and information dissemination behavior from platforms shows that perceptions of complementarity and social interaction have a significant effect on information diffusion behavior. cen and li (2019), on online b2b platforms, found that direct and indirect externality dimensions significantly affect buyer loyalty through perceived value, 83 user satisfaction and switching costs. hypothesis 7: network externality have a positive effect on the company’s sustainable business growth. ii. methods the research uses a quantitative research method with a descriptive-explanatory or descriptiveexplanatory approach. descriptive research aims to obtain an accurate profile of events, phenomena, people, conditions or situations in accordance with the research objectives. the research sample are mlm companies that are official and have licenses to operate in indonesia, both foreign companies and domestic companies represented by top management of the company such as ceo, general manager, or senior manager who is authorized in making strategic decisions of the company. the research uses a nonprobability sampling method because the population size and distribution are unknown. each company is represented by one top management to fill out the questionnaire that is sent by hardcopy or through email, it is called a purposive sampling approach, since the researcher has a list of respondent data in the population and can take samples of people (or other elements) directly (ames et al., 2019). the source of data or population in this study is the top management team of mlm companies or top management team (tmt) from registered mlm companies from the ministry of trade of the republic of indonesia and who joined the indonesian direct selling association (apli) and the indonesian direct selling company association (ap2li). the unit of analysis in the research is company. the questionnaire for each operationalization of the research variable was designed with five alternative answer choices using a likert scale including: 5 for strongly agree (ss), 4 for agree (s), 3 for neutral (n), 2 for disagree (ts), and a score of 1 for strongly disagree (sts). the structured questionnaire was distributed through an online platform (emails and messenger apps). to test the hypothesis, structural equation modeling (sem) is used, which is an analysis of the research model to determine the relationship between variables in research by providing a quantitative test of the theoretical model hypothesized by a researcher. iii. results and discussions the outer loading results shown in table 1 show that among the 5 variables, 31 indicator factor loading values are above 0,7. therefore, 25 variables are classified as sufficient for further analysis. table 2 illustrates that the composite-reliability for all factors is above 0,7, so it can be concluded that the variables and construct statements are reliable. the table also shows all average variance extracted (ave) values above 0,50 which indicates that these table 1 convergent validity analysis variable indicator average value standard deviation loading factor remarks digital adoption capability dac1 4,445 0,669 0,825 valid dac2 3,951 1,246 0,700 valid dac3 4,330 0,643 0,875 valid dac4 4,242 0,682 0,920 valid dac5 4,115 1,034 0,873 valid dac6 4,159 1,028 0,871 valid strategic agility sst1 4,379 0,542 0,786 valid sst2 4,396 0,524 0,700 valid sst3 4,247 0,509 0,740 valid lun1 4,478 0,590 0,843 valid lun2 4,462 0,649 0,811 valid in pr es s 17the network externality as a mediator .... (asnan furinto, et al.) factors have acceptable convergent validity. table 2 composite reliability and average variance extracted variables composite reliability ave digital adoption capability 0,938 0,717 strategic agility 0,951 0,764 perceived product advantage 0,952 0,799 network externality 0,939 0,633 sustainable business growth 0,967 0,855 discriminant validity was evaluated using the fornell-larcker criteria (hilkenmeier et al., 2020) presented in table 3. discriminant validity is measured by the square root value of each ave shown in the diagonal cell and is required to be greater than the correlation coefficient (a value other than that in the diagonal cell). table 3 shows that this requirement was also met and thus the discriminant validity proved adequate for the factors. the structural model is analyzed using the r-squared value. this helps in identifying the magnitude of the exogenous variables and at the same time explaining the endogenous variables. the calculated r-squared values are shown in table 4. the r-squared value of 0,617 for the resulting network externality explains that the 61,7% variance is contributed by the constituent variables of digital adoption capability, strategic agility and perceived product advantage. the remaining 38,3% of the variance is explained by other variables not examined in the research. similarly, the r-squared value of 0,358 for sustainable business growth reveals that the resulting factor variance can be explained by other variables, namely, digital adoption capability, strategic agility and perceived product advantage, and network externality up to 35,8%, while the remaining 64,2% contributed by another unknown variable. table 3 discriminant validity (fornell-larcker criteria) variables dac nex ppa sa sbg dac 0,847 nex 0,440 0,874 ppa 0,207 0,689 0,894 sa 0,418 0,531 0,327 0,795 sbg 0,278 0,546 0,511 0,178 0,925 table 4 r-squared variables r-square network externality 0,617 sustainable business growth 0,358 variable indicator average value standard deviation loading factor remarks lun3 4,478 0,553 0,854 valid rfl1 4,308 0,561 0,793 valid rfl2 4,368 0,531 0,843 valid rfl3 4,379 0,532 0,776 valid perceived product advantage ppa1 4,407 1,134 0,893 valid ppa2 4,313 1,009 0,905 valid ppa3 4,434 1,013 0,943 valid ppa4 4,275 1,059 0,929 valid ppa5 4,033 1,157 0,791 valid network externality net1 4,379 1,013 0,906 valid net2 4,269 1,021 0,907 valid net3 4,236 1,040 0,880 valid net4 4,401 0,671 0,891 valid net5 3,951 1,150 0,831 valid net6 3,984 1,040 0,825 valid sustainable business growth sbg1 3,830 1,244 0,951 valid sbg2 3,797 1,266 0,957 valid sbg3 3,632 1,310 0,933 valid sbg4 3,462 1,308 0,842 valid sbg5 3,841 1,276 0,935 valid table 1 convergent validity analysis (continued) in pr es s 18 the winners, vol. 24 no. 1 june 2023, 13-21 the hypotheses formulated in table 5 are now analyzed using the t-test and the results are presented in table 5. examining seven hypotheses, five hypotheses are statistically significant and proven to be able to increase the company’s business growth in a sustainable manner. while the other two hypotheses are rejected, which means that they are not statistically proven to increase the company’s sustainable business growth. the results of this study indicate that the hypothesis which states that digital adoption capability does not have a direct effect on sustainable business growth. it was found that the t-statistical value 1,617 < 1,96. this is in contrast to the research of (fürstenau et al., 2020) who conducted research on european airlines found that digital capabilities can improve organizational performance by supporting complex decision-making processes. the results of previous studies show that digital orientation and digital capability have a positive effect on digital innovation and digital innovation mediates the effect of technology orientation and digital capability on financial and non-financial performance (khin & ho, 2018). digitization refers to the adoption and application of digital technology by a company (lee et al., 2020). the ability to adopt digital does not necessarily increase sustainable business growth. the t-value has a value of 1,972 > 1,96. therefore, the hypothesis which states that network externalities are proven to be able to mediate the relationship between digital adoption capability and sustainable business growth is accepted. this is supported by the results of (halaburda et al., 2020) research which states that a digital platform affects network externalities, especially on meaningful managerial implications for online b2b service providers to build a loyal user base through increasing user perceptions of network externalities, switching costs, and score. user (or customer) loyalty is an important source of competitive advantage for companies marketing their products or services through conventional channels and/or online, and various online service providers are emerging (cen & li, 2019), particularly in the area of direct selling mlm. it was also found that the t-statistical value 2,229 > 1,96. from these results, the hypothesis which states that perceived product advantage has an effect on sustainable business growth is accepted. this is in contrast with the research by (keong & dastane, 2019) which states that malaysian mlm distributors perceive that product innovation causes products to be expensive, complicated, difficult to sell, share, and teach to their downlines. however, this result is consistent to shih (2018) which states that successful radical innovation enables mutually beneficial relationships between stakeholders to create product advantages. the ability of innovation can result in product advantage, brand value or sales growth, but product advantage has a significant effect on the company’s business performance. product advantage for the company's sustainable business growth through network externality. the hypothesis which states that network externality are proven to be able to mediate the relationship between perceived product advantage and sustainable business growth is accepted, since the t-statistical value 2,750 > 1,96. this shows that the product is a fairly important part for mlm companies in an effort to develop their business and increase their competitive advantage (hardon et al., 2019; tay & meng, 2018). the researcher develops and tests the importance of perceived product advantage in the mlm industry in an effort to increase sustainable business growth. people’s desire to refer products and services to others if there are perceived benefits (cen & li, 2019; lee & joshi, 2020). in various studies investigating product advantages, they often focus on elements, such as quality, uniqueness, innovation, and performance (arnett et al., 2018). the hypothesis which states that strategic agility affects sustainable business growth is rejected since it was found that the t-statistical value 1,810 < 1,96. this result consistent to (reed, 2020) and different from the research of (kurniawan et al., 2020) which confirms the existence of a causal relationship through structural equation modeling, the research results show that strategic agility has a positive and significant direct effect on company performance. table 5 hypothesis examine result hypothesis and path t-statistic p-value result decision direct effect h1: dac  sbg 1,617 0,106 rejected not proven h3: ppa  sbg 2,229 0,026 accepted proven h5: sa  sbg 1,810 0,070 rejected not proven h4: nex  sbg 3,389 0,001 accepted proven indirect effect or mediating role of network externality h2: dac  nex  sbg 1,972 0,050 accepted proven h4: ppa  nex  sbg 2,750 0,006 accepted proven h6: sa  nex  sbg 2,861 0,004 accepted proven in pr es s 19the network externality as a mediator .... (asnan furinto, et al.) there is also empirical research conducted on the higher education sector in malaysia which shows that strategic agility is seen as an important requirement for organizations to achieve superior organizational performance (chan & muthuveloo, 2018). empirical research also conducted on the it sector in romania resulted in the same thing that strategic agility is positively related to company performance (lungu, 2020). the results exhibit that strategic agility does not directly affect business growth because not all existing resources have a direct impact on business growth. strategic agility seems to have become commonplace in the network marketing industry. it was found that the t-statistical value 2,861 > 1,96. results indicate that the hypothesis stating that network externality are proven to be able to mediate the relationship between strategic agility and sustainable business growth is accepted. these results are supported by research in florida, united states of america in three industrial sectors of varying size, namely manufacturing, construction and professional services which show no direct relationship between strategic agility and company performance (reed, 2020), and the research results suggest that network externality can be a mediating factor between strategic agility and sustainable business growth. this finding can enrich management theory, especially about strategic agility which is now continuing to be popular. the research confirms the results of research from (reed, 2020) that strategic agility is related to business performance depending on the size of the company, the age of the company, and also the business model of the company itself. so there are still many opportunities in strategic agility development and research that can enrich managerial knowledge. the results of this research are expected to be novel and can contribute not only to the network marketing industry but also to various other industries. next, the hypothesis which states that network externality have a positive effect on sustainable business growth is accepted. the t-value 3,389 > 1,96. na et al. (2019) also show that the correlation between network externalities and information dissemination behavior from platforms shows that perceptions of complementarity and social interaction have a significant effect on information diffusion behavior. previous research on online b2b platforms found that direct and indirect externality dimensions significantly affect buyer loyalty through perceived value, 83 user satisfaction and switching costs (cen & li, 2019). network externality are an important factor in the development of an existing network marketing business venture. bai et al. (2019) point out that network externalities have an important influence so that consumers are willing to recommend luxury products and daily necessities. in accordance with the research results, the development of network externalities in the network marketing industry is needed in addition to the software and application industries. iv. conclusions the results conclude that: 1) digital adoption capability has a positive effect on sustainable business growth; 2) network externality are proven to be able to mediate the relationship between digital adoption capability and sustainable business growth; 3) product advantage has significant effect on sustainable business growth; 4) network externalities are proven to mediate the relationship between product advantages on sustainable business growth. the results can be an alternative input for designing management strategies and policies in order to develop mlm business in indonesia which of course indirectly has a positive impact on the nation’s economic growth. mlm companies and their management teams also get additional references in an effort to develop a solid framework so that they can increase sustainable mlm business growth in indonesia. the research is found to have several implications. first, it is imperative that mlm companies adopt digital technology to sustain its growth. despite traditional ways of making connections with members through personal engagement, it must be completed with digital adoption to make the network grow effectively. secondly, the research confirms the imperatives for mlm to have solid value propositions in the form of product advantage. depending on network alone without reliable quality products may hinder the growth of mlm businesses. future research shall include the digital literacy of mlm member companies as it may vary widely across companies and could affect the whole equation of creating sustainable business growth. references ames, h., glenton, c., & lewin, s. 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(2021). when do strategic orientations matter to innovation performance of green-tech ventures? the moderating effects of network positions. journal of cleaner production, 279. https://doi.org/10.1016/j. jclepro.2020.123743 in pr es s *corresponding author p-issn: 1412-1212 e-issn: 2541-2388 1 the winners, 24(1), june 2023, 1-11 doi: 10.21512/tw.v24i1.8124 the role of external auditor in the adoption of computer-assisted audit techniques (caats) with unified theory of acceptance and use of technology: an empirical study in public audit firms in jakarta kevin deniswara1*; thomas henky2; archie nathanael mulyawan3; wishnu kameshwara armand4; mazlina mustapha5 1,2,3,4accounting department, faculty of economics and communication, bina nusantara university jl. k. h . syahdan no. 9, kemanggisan, palmerah, jakarta barat 11480, indonesia 5school of business economics, universiti putra malaysia 43400 upm serdang, selangor darul ehsan, malaysia 1kevindeniswaraignatius@binus.ac.id; 2thomas.henky@binus.ac.id; 3archie.mulyawan@binus.edu; 4wishnu.armand@binus.ac.id; 5mazlina@upm.edu.my received: 25th january 2022/ revised: 16th february 2023/ accepted: 20th march 2023 how to cite: deniswara, k., henky, t., mulyawan, a. n., armand, w. k., & mustapha, m. (2023). the role of external auditor in the adoption of computer-assisted audit techniques (caats) with unified theory of acceptance and use of technology: an empirical study in public audit firms in jakarta. the winners, 24(1), 1-11. https://doi.org/10.21512/tw.v24i1.8124 abstract this research aimed to analyze the factors that influence the acceptance of computer assisted audit techniques (caats) among external auditors in public audit firms in jakarta. the unified theory of acceptance and use of technology (utaut) approach was used for this analysis. technological advancements had an effect on auditors' ability to adopt audit software. however, it had been found that there was no preparation or openness from auditors, leading to suboptimal utilization of audit implementation software and affected the presentation of audit information. this investigation adopted a quantitative method by distributing close-ended questionnaires to external auditors in audit firms in jakarta. the data were analyzed using partial least square with smartpls ver 3. the results showed that social influence affected behavioral intention of external auditors in jakarta in adopting and using caats. expectancy performance, effort expectancy, and facilitating conditions did not affect behavioral intention of external auditors in adopting and using caats. this research generated contributions that could be further directed toward the development of auditors’ competencies in optimizing technology in audit. keywords: caats, public audit firms, utaut, audit software i. introduction technological advancements in the industrial revolution 4.0 era have generated changes that modified management strategies in the industrial world (gupta, motlagh, & rhyner, 2020). furthermore, the data transformation driven by the growth of arstificial intelligence, big data, robots, etc. has significantly reshaped the industrial world. according to the international data corporation (idc), the implementation of intelligent automation systems can boost a company's performance by 88% (muscolino et al., 2020). this progress has led to a high level of it spending in asia pacific at 89% (muscolino et al., 2020). furthermore, the rise of leadership awareness to speed up operations has an impact on several nonit sectors, specifically financial reporting. according to zadorozhnyi et al. (2021), the competitive level of technology implementation has changed the financial information system by presenting a new taxonomy that is wary of cyberattacks. in addition, kroon, do céu alves, and martins (2021) found that academic experts have conducted many investigations related to the accounting information system. sutton et al. (2016) also stated that the systems of financial report record-keeping underwent continuous advancements. this can create a gap between humans and the system, which has a disruptive impact (autor, 2015; kumaraswamy et al., 2018). in pr es s 2 the winners, vol. 24 no. 1 june 2023, 1-11 according to rezaee and wang (2019), it is necessary to increase knowledge and experience to overcome this gap. this will facilitate competitiveness, specifically for auditors dealing with fraud perpetrators who are also adapted to technology. continuous changes in the financial statement presentation system also require auditors to be able to improve audit quality, which is further facilitated by technology (raguseo, 2018). according to kokina and davenport (2017), and munoko, brown-liburd, and vasarhelyi (2020), auditors can take advantage of various modern systems to help verify large amounts of data to provide audit information that helps inform users in decision-making. however, it often creates an audit performance expectation gap with report users due to inconsistencies in auditor-generated information (astolfi, 2021; deepal & jayamaha, 2022). the information can be generated in a relevant way as long as auditors can optimize the technology by obtaining hidden data (calderon & gao, 2021). alles (2015) showed the data growth faced by auditors was six times higher than other technologies, which required some technical skills. figure 1 the rise of technology in audit (kroon et al., 2021) auditors have started using advanced software to increase the success of audit strategies. previous research analyzed auditors' competencies in accepting audit technology using various frameworks (alhiyari, al said, & hattab, 2019; gepp et al., 2018; sirois, marmousez, & simunic, 2016) and data exploration to gain auditors’ perspective on the update (slapničar et al., 2022; widuri, o’connell, & yapa, 2016). additionally, the covid-19 pandemic has led auditors to implement remote audit that is more flexible and easier to collect data (slapničar et al., 2022). one of the advanced softwares that help to support auditors' performance is computer assisted audit techniques (caats). shamsuddin et al. (2015) stated that caats is a technology used by internal and external auditors to conduct the audit process of a company’s information systems. caats support the effectiveness and efficiency of audit work by automatizing manual audit activities consisting of several tools and techniques to extract, analyze, and evaluate the result of data processing. furthermore, caats reduce audit expenses, improve quality, productivity, and timely efficiency (gepp et al., 2018). external auditors need to understand the techniques for accessing and analyzing client electronic data by using caats. therefore, external auditors can reduce the time between the event of client accounting occurrences and the services, as well as change the audit process from archiving activities into a continuing process (chatterjee et al., 2021). this research focused on caats, where some examples of caats software are acl, idea, ms. excel, ms. access, lotus-123, ms. query, and oracle. technological advancements will have an effect on the gap between report users and auditors due to the lack of guarantees that increase public trust (behzadian & nia, 2017). according to alles (2015) and rosati, gogolin, and lynn (2019), professional bodies such as the international auditing and assurance standards board (iaasb), american institute of certified public accountants (aicpa), public company accounting oversight board (pcaob), and others have adapted auditing standards to keep up with the changes. furthermore, arens, elder, and beasley (2014) updated audit education by integrating with iaasb canada, which supported gitc (general it control) to ensure client internal controls were executed following the appropriate procedures through auditors that have been adapted with changes. according to the international audit standard (isa) 315 (revised 2019), the use of automated tools and techniques can aid in the identification and compilation of audit risks. these tools enhance the accuracy and speed of data processing, making the process more reliable. in indonesia, caats are regulated by various auditing standards. the standard auditing (sa) 240 addresses the responsibility of auditors in detecting fraud in financial statements. sa 300 pertains to the planning of financial statements, sa 315 focuses on the identification and assessment of the misappropriation in the financial statement. furthermore, sa 330 deals with auditors’ responses to risks, and sa 550, also known as 'related parties' emphasizes how caats improve the effectiveness and efficiency of external auditors in conducting the financial statement audit. deepal and jayamaha (2022) stated that auditors’ lack of ability to practice the system has an impact on increasing the expectation gap, as mentioned in audit expectation-performance gap (aeg) theory. therefore, caats are very helpful for external auditors and important when conducting the audit of the companies’ bookkeeping which accounting systems are computer-based (al-hiyari et al., 2019). it concluded that user acceptance is a very important factor in determining the success of the development of it. this research used the unified theory of acceptance and use of technology (utaut) methodology. several research utilized various in pr es s 3the role of external auditor .... (kevin deniswara, et al.) frameworks, including toe, delone, mclean is success model, and others to analyse technology implementation success at the organizational level (alokaily et al., 2020; prasetyo et al., 2021; widuri et al., 2016). in addition, the utaut model provides better explanation capabilities in illustrating behavioral intention to use the system than using other methods (al-hiyari et al., 2019). behavioural analysis plays an important role in addressing the recurring problems that arise due to variations in individual acceptance levels. to contribute to audit firms and scholars in designing suitable audit frameworks and strategies, a deeper exploration of this topic is necessary (al-matari et al., 2021; najafabadi et al., 2015; rosati et al., 2019). previous research examined the acceptance of caats by external auditors. al-hiyari et al. (2019) conducted a research on the acceptance of caats by external auditors in jordan. the results showed that performance expectancy and facilitating conditions significantly influenced the intention of external auditors to adopt caats. mohammad, kamil, and bin mohd noor (2017) conducted a research in jordan and identified performance expectancy, effort expectancy, and social influence as significant factors that affected the intention of external auditors to adopt caats, but facilitating conditions had no effect. mohamed, muhammad, and rozzani (2019) also conducted a research on the external auditors’ intention in using caats in malaysia. the results found that performance expectancy, effort expectancy, and facilitating conditions significantly influenced the intention to use caats, while social influence did not have an effect. according to shamsuddin et al. (2015), on external auditors in malaysia, all factors such as performance expectancy, effort expectancy, social influence, and facilitating conditions influenced the intention to use caats. external auditors believe that the use of caats can quickly solve audit work, improve quality, and productivity. handoko, ariyanto, and warganegara (2018) stated that performance expectancy affected behavioral intention while effort expectancy and social influence had no effect. enabling conditions and behavioral intention have an influence on usage behaviour by external auditors in the use of caats. in indonesia, the acceptance and use of caats are still relatively new (widuri et al., 2016). by conducting this, it is expected to provide a thorough understanding of factors that promote or inhibit the acceptance and use of caats by external auditors in the jakarta area. based on the previous literature described, this research stimulated venkatesh et al. (2003), which declared america as a research site for the banking, communication, entertainment, and public administration industries that use information systems. meanwhile, the expert decided to choose indonesia, specifically jakarta as a research site with external auditors as the respondents. this research aims to contribute by analyzing auditors’ acceptance to adopt technology to support audit performance. the findings will improve the decision-making process for report users, thereby minimizing the gap in auditors’ capacity with technological advancements and the expectation gap between report users and the auditing profession. lastly, the results can be a basis for standard setters to adapt developments in auditing standards in response to evolving changes. the relationship between performance expectancy and behavioral intention mahzan and lymer (2014), shihab et al. (2017), and al-hiyari et al. (2019) claimed technological advancements in auditing improved auditors’ performance, which became faster and superior, specifically when minimizing costs and time. according to calderon and gao (2021), auditors are gaining more knowledge in conducting risk assessments that have an impact on a more advanced and open audit testing process. krahel and titera (2015), and raguseo (2018) explained how the existence of technology, in addition to having a great impact on earnings for auditors, also required a consideration related to experience. this consideration can be a risk of opinion error when it is unable to optimize technology. furthermore, handoko et al. (2018) established how the level of auditors' success in practicing technology can be seen from the preparation, which supported performance. h1: performance expectancy has a positive impact on behavioral intention. the relationship between effort expectancy and behavioral intention venkatesh et al. (2003) developed the utaut model on the expectation of effort to analyze individual acceptance in the practice of technology. according to shihab et al. (2017), there is a positive effect of effort expectation on behavioral intention. in this case, the training routine of auditors increased the acceptance power to implement the technology. a similar point of view is also expressed by siew, rosli, and yeow (2020) on how implementing caats with knowledge of its features and functions promoted editors to quickly meet their needs. furthermore, alles (2015) explained that there was an increase in audit services based on technology. h2: effort expectancy has a positive impact on behavioral intention. the relationship between social influence and behavioral intention several research showed that the greatest influence on auditors to transform was the existence of favourable environmental conditions (gepp et al., 2018; al-hiyari et al., 2019; calderon & gao, 2021). according to sirois et al. (2016), the risks of applying technology to audit can be minimized with the proper support from the team to optimally practice the in pr es s 4 the winners, vol. 24 no. 1 june 2023, 1-11 technology. siew et al. (2020) showed a more effective implementation of caats in an adequate working environment. h3: social influence has a positive impact on behavioral intention. the relationship between facilitating condition and behavioral intention one of the main elements that support the successful implementation of technology in resources is the encouragement of leaders who facilitate innovations for employees (siew et al., 2020). according to mahzan and lymer (2014), and shihab et al. (2017), there was an effect between the facilitating conditions and behavioral intention, where the support of the company leaders improved auditors' performance. h4: facilitating condition has a positive impact on behavioral intention. figure 2 research framework ii. methods this research used explanatory quantitative methods through descriptive analysis. according to sekaran and bougie (2016), quantitative method is an approach that is based on the philosophy of positivism and used to study a specific population or sample. this method involved data collection using research instruments and quantitative or statistical data analysis, with the aim of testing predetermined hypotheses. the research type was associative, where according to sugiyono (2015) aimed to identify the relationship between more than two variables. meanwhile, hypothetical testing describes the nature of a particular relationship or ascertains the differences between groups or independence or more factors in a situation. the selection of research samples used the non-probability sampling techniques. according to weyant (2022), non-probability sampling is one of the approaches used to collect samples that do not allow for every member of the population to have an equal chance of being selected. in this research, the samples were obtained using purposive sampling. furthermore, auditor-assisted snowball sampling was employed to reach other auditors in the data distribution process, which proved effective (sekaran & bougie, 2016). the data collection process was carried out by distributing closed-ended questionnaires to auditors of the jakarta public accounting office through social media (mohamed et al., 2019). the primary data collection method used a cross-sectional approach (weyant, 2022). as for the secondary data, a systematic literature review was carried out to analyse previous journals, research books, and valid websites. this was conducted to increase the data accuracy and provide the support that guarantees the research quality (bowen, 2009). it should be noted that the number of external auditors in audit firms in jakarta was not exactly determined, where the research referenced chin (1998) as mentioned in marliana (2020) as follows: 1. the minimum sample size on pls-sem is equal to or greater than ten times the largest number of formative indicators used to measure latent variables. 2. ten times the largest number of structural paths are directly connected to a particular construct in the structural model. in the research, four paths were identified in the structural pathways directly connected to a specific construct in a structural model. these paths were determined based on criteria at point 2. various approaches can be used such as the roscoe method which was developed in 1975. however, the research adopted chin (1998) because it focused on auditors who are not distinguished by their position or experience. roscoe adoption research targeted respondents with certain criteria, such as focusing only on top management (hair et al., 2019), whereas this research aimed to include all auditors in public accounting firms in jakarta. therefore, the minimum sample of partial least square (pls) in the research was 40 samples. this research consisted of four independent variables, namely performance expectancy, effort expectancy, social influence, and facilitating conditions, and one dependent variable, namely behavioral intention. the variables were measured using questionnaire instruments in the form of several questions to determine the extent of responses from respondents using a likert scale of 1 to 5 points, namely 1 = strongly disagree, 2 = disagree, 3 = neutral, 4 = agree, and 5 = strongly agree (joshi et al., 2015). the data were analyzed using the structural equation model (sem) model with the partial least square (pls) approach and smartpls support software version 3.3.2. the structural equation model (sem) is a multivariate analysis method with a combination of factor and correlation analysis, which in pr es s 5the role of external auditor .... (kevin deniswara, et al.) measures the relationship between variables in a model. furthermore, testing was conducted using the smartpls version 3.3.2. there are also outer model test, inner model test, and hypothesis test. iii. results and discussions from the questionnaires distributed online to external auditors working at audit firms in jakarta, 63 responses were obtained and 62 were considered valid. furthermore, the data were processed using the smartpls version 3.3.2. table 2 shows the characteristics of the respondents and is interpreted as relevant information. outer loadings test was conducted to measure the validity and reliability of the research models with convergent and discriminant validity, and composite table 1 operational variable variable indicators performance expectancy • perception of extrinsic advantages and motivations i found caats useful in my audit work. using caats enables me to promptly complete tasks. • suitability with work and relative benefits using caats increases my productivity. if i use caats, i will increase my chances of getting a raise. • results expectations using caats will reduce the time i spend on unproductive activities. using caats improves audit quality. effort expectancy • perception of ease of use my interaction with caats will be clear and understandable. it would be easy for me to be skilled in using caats. • ease of use i shall find caats easy to use. learning to operate caats was easy for me. • complexity using caats may require a lot of my mental effort. social influence • subjective norms regulators, shareholders, and stakeholders who influenced my audit process, thought that i should use caats. the audit team and the people around me thought that i should use caats. • social factors the audit team and the people in this audit firm have cooperatively assisted me in the use of caats. in general, the audit firm has supported the use of caats. • image the people in my audit firm who use caats have more advantages than those who do not use it. facilitating conditions • controlling behaviour i have the necessary resources to use caats. i have the necessary knowledge to use caats. • conformity this system is not compatible with the caats i use. • conditions that make it easier when i am having trouble using caats, there are always people or groups that support me. i think that the use of caats fits perfectly with the audit approach applied in my audit firm. behavioral intention • social prediction attitudes and behaviours i intend to use caats in the audit process on a regular basis. i predict i shall use caats in the future. i plan to use caats in the near future. reliability. an indicator that satisfies reliability is when it has a loading factor value greater than 0.7 (sekaran & bougie, 2016). however, when the loading factor value is between 0.4 to 0.7, the indicator will be removed. the result is 4 indicators did not meet the criteria and had been removed earlier for further analysis (hair et al., 2019). the cronbach alpha (ca) and composite reliability (cr) values of each latent variable have to reach >0.7 to meet internal consistency reliability requirements. all variables in the research model have a greater composite reliability value of 0.7. therefore, it can be implied that the reliability of internal consistency was met, and it can improve the accuracy of the presented information (hair et al., 2019). convergent validity analysis was carried out by evaluating the value of each latent variable average variance extracted (ave). the result showed in pr es s 6 the winners, vol. 24 no. 1 june 2023, 1-11 that all latent variables had an ave greater than 0.5. furthermore, all the data were valid and can be further tested. to evaluate discriminant validity, this research evaluated both cross-loading values and ave roots to determine the magnitude of each value in each indicator that has a different level of aspects from other indicators (hair et al., 2019). the result also showed all the indicators had a loading factor greater than the associated variables compared to others, which met the requirements of >0.70 (hair et al., 2019). the square root of the ave value of each variable was greater than the correlation to other latent variables in the research model. therefore, the proposed model met the evaluation of discriminant validity (hair et al., 2019). the evaluation of the structural model (inner model) consists of the coefficient of determination (r2) and predictive relevance (q2) (hair et al., 2019). in this research, the value of r2 was 0.561 or 56.1% which showed the independent variables explained the construct of dependent variables by 56.1% while the remaining value was explained by other variables (hair et al., 2019). furthermore, q2 testing obtained a result of 0.376 which means behavioral intention variables have predictive relation. the magnitude of the value of each relationship was tested, leading to the hypothesis test that can be performed based on the existing variables (sekaran & bougie, 2016; hair et al., 2019). the hypothesis testing was carried out with a t-test. when the test result has p-value ≤ 0.05 (alpha 5%) and t-statistics > 1.96, it can be concluded that the results are significant. according to sekaran and bougie (2016), and hair et al. (2019), when a hypothesis has a positive impact, it significantly indicates a parallel increase of the relationship variables without passing one over the other. table 2 respondent characteristics description characteristics details frequency percentage ages <=25 y.o 41 66% 25 – 35 y.o 18 29% 36 – 45 y.o 2 3% > 46 y.o 1 2% gender male 40 65% female 22 35% education level diploma diploma 0 0% s1 undergraduate 56 90% s2 – post graduate 6 10% s3 doctoral 0 0% working experiences <3 years 49 79% 3 – 5 years 7 11% > 5 years 6 10% rank/ position junior auditor 48 77% senior auditor 11 18% manager 2 3% partner 1 2% certification yes 10 16% no 52 84% voluntary in using caats yes 42 68% no 20 32% firm size big 4 15 24% non-big 4 47 76% software used acl 10 9% idea 10 10% ms. excel 57 55% ms. access 4 4% oracle 7 7% others 15 15% in pr es s 7the role of external auditor .... (kevin deniswara, et al.) table 3 ca, cr, and ave value variable name cronbach’s alpha (ca) composite reliability (cr) average variance extracted (ave) performance expectancy 0,710 0,822 0,541 effort expectancy 0,797 0,863 0,613 social influence 0,842 0,889 0,619 facilitating conditions 0,713 0,824 0,542 behavioral intention 0,830 0,898 0,747 the result of hypothesis 1 concluded that performance expectancy had a positive but insignificant effect on behavioral intention of external auditors working at audit firms in jakarta to adopt caats. several research (mahzan & lymer, 2014; sirois et al., 2016; al-hiyari et al., 2019) indicated how auditors need technology to improve performance, specifically in the presentation of relevant finding information. furthermore, widuri et al. (2016) explored auditors in indonesia through the toe framework. the results showed that technological applications in the form of generalized audit software (gas), audit command language (acl), and caats provided convenience and superiority for auditors in performing data tests with a high validity level. these results are supported by sutanto, ghozali, and handayani (2018) and gonzalez et al. (2012) that performance expectancy did not affect behavioral intention. sutanto et al. (2018) claimed this was due to the awards that do not worth the tasks and roles to be performed. moreover, caats have been unable to expedite the completion of audit work or enhance its effectiveness and efficiency. this also needs to be enhanced by supportive facilities and infrastructure (raguseo, 2018). audit firms, which seek to increase the use of caats, should invest more in training programs to educate external auditors about the benefits of using the tool and help them stay up to date with technological advancements (bierstaker, janvrin, & lowe, 2014). shihab et al. (2017) showed auditors’ lack of experience and knowledge in auditing software practice had an impact on diminishing their performance. this led to a decreased interest of auditors in applying the technology. also, krahel and titera (2015), and gepp et al. (2018) explained that in addition to the superiority of auditors, they face threats that run the risk of discrepancies in the presentation of opinions due to lack of detection to obtain findings. the results of hypothesis 2 showed that effort expectancy had a positive but insignificant effect on behavioral intention of external auditors in jakarta to adopt caats. the results support al-hiyari et al. (2019) and mohammad et al. (2017) that auditors apply technology according to experience and needs to produce audit performance. when presenting an opinion, auditors need to minimize audit risk in order to avoid incorrect decisions (krahel & titera, 2015). the advancement of information systems requires auditors’ capability as a guarantor of transparency and accountability for the presentation of financial statements (calderon & gao, 2021; salijeni et al., 2019). it can also be seen that the average age of respondents was below 25 years and have a bachelor’s (undergraduate) degree. this can indirectly affect the ease of auditors in adapting caats. the results are supported by al-hiyari et al. (2019) and handoko et al. (2018), which showed that effort expectancy does not affect behavioral intention. furthermore, al-hiyari et al. (2019) stated that the reason why effort expectancy did not affected behavioral intention was because most of the external auditors in the sample were young and had a high proficiency in information technology. external auditors can easily perceive the significant level of convenience associated with the utilization of caats (shihab et al. 2017). another reason why effort expectancy does not affect behavioral intention is that in the context of audit, the effectiveness of audit procedures is given high priority by external auditors. this is done when they make decisions on the use of technology and not about personal preferences regarding efforts required to use technology (bierstaker et al., 2014). the results of hypothesis 3 showed social influence has a positive and significant effect on behavioral intention of external auditors in jakarta to adopt or use caats. this suggests that auditors are influenced by their social environment, including colleagues who use caats in the audit process. this is evident in the respondents' agreement with social influence indicators, indicating that auditors table 4 hypothesis test result hypothesis path path coefficient standard deviation t-value p-value conclusion h1 pe  bi 0,198 0,129 1,534 0,126 positive and insignificant h2 ee  bi 0,060 0,114 0,525 0,600 positive and insignificant h3 si  bi 0,398 0,121 3,304 0,001 positive and significant h4 fc  bi 0,208 0,167 1,247 0,213 positive and insignificant in pr es s 8 the winners, vol. 24 no. 1 june 2023, 1-11 are influenced by those around them. according to mahzan & lymer (2014), environmental conditions affect how auditors perform audit activities. according to sirois et al. (2016) and calderon and gao (2021), auditors are influenced by the client size and the extent to which they have adopted the technology. these factors will support auditors in updating their skills. however, several research showed a lack of openness in the work environment because outdated standards or differences in specialization led to a behaviour that was less adaptable to change (calderon & gao, 2021; islam et al., 2018; zadorozhnyi et al., 2021). these results were supported by mohammad et al. (2017) and shamsuddin et al. (2015), which showed social influence affected behavioral intention. according to shamsuddin et al. (2015), social influence impacted behavioral intention because it was caused by the influence of colleagues and senior management, as well as current developments in new technologies by the organization. hypothesis 4 stated that facilitating conditions have a positive but insignificant effect on behavioral intention of external auditors to adopt or use caats. it can be concluded that auditors believed the support facilities do not have a significant influence on their decision to adopt caats. these results are in accordance with mohammad et al. (2017) and sutanto et al. (2018) which showed facilitating conditions do not affect behavioral intention of external auditors in the use of caats. furthermore, mohamed et al. (2019) stated that an important factor that improved behavioral intention to adopt and use caats was independence with the availability of resources, adequate information, and assistance in the usage. al-hiyari et al. (2019) stated that audit firms should invest enough money in advanced information technology infrastructure to minimize the barriers in receiving and utilizing caats. the firms should increase caats usage by developing new policies regarding the recruitment and promotion of external auditors. the majority of external auditors in this research still use microsoft excel as a supportive software to conduct the audit process. therefore, the firms should provide supportive software and training to increase the interest of auditors in adopting caats. kolbjørnsrud, amico, and thomas (2017) found that 44% of leaders perceived technological advancements as a threat that generated a lack of facilities in the company. this affected performance in the achievement of set goals. iv. conclusions in conclusion, this research aimed to analyze the factors that influence behavioral intention to adopt and use caats. four independent variables, namely performance expectancy, effort expectancy, social influence, and facilitating conditions were tested against the dependent variable, namely behavioral intention. furthermore, this research was conducted on external auditors working at audit firms in jakarta using questionnaires made with google forms and disseminated using social media. a partial least square (pls) method was used to determine the influence of the independent variables on the dependent. the analysis was carried out using the smartpls program version 3.3.2. performance expectancy had a positive but insignificant effect on behavioral intention of external auditors in adopting and using caats. this suggested that despite the potential for performance improvement and the perceived effectiveness of technology, these factors have been unable to significantly influence auditors' intention to adopt and use caats. effort expectancy had a positive but insignificant effect on behavioral intention. therefore, it was concluded that the perceived ease associated with technology was not a significant factor to influence auditors' intention to adopt and use caats. this was similar to the results of mahzan and lymer (2014), shibab et al. (2017). social influence had a positive and significant effect on behavioral intention of adopting and using caats. this suggested that the social environment where auditors operate and the support they receive from people play a crucial role in shaping the intention to adopt caats. facilitating conditions had a positive but insignificant influence on behavioral intention. it was concluded that supporting facilities such as resources (internet, cloud, or other advance technologies), adequate information, and assistance in the use of caats cannot affect the intention/desire to adopt caats (autor, 2015; kolbjørnsrud et al., 2017). this research generated input for future academic paper and audit firms in designing a strategic model that can prepare auditors to adopt an audit system. to achieve a successful technology implementation, leadership support alone is not enough. it also necessitated the awareness of individuals who recognized the potential of audit technology to lead auditors towards new opportunities. this awareness can be fostered by promoting ideas for updated auditing standards that align with technological advancements (alles, 2015; calderon & gao, 2021; rosati et al., 2019). this research has several limitations. firstly, the respondents' data were obtained from a single location and the amount of data was adjusted according to the variables based on the provisions of chin (1998). in addition, this type of software is only targeted at caats, excluding other softwares used by different auditors. this research aimed to analyze the renewal of auditors’ acceptance, which can change at any time. future studies are recommended to explore the gaps in this research through interview-based surveys. this will provide insight into the acceptance of audit software implementation to improve auditors’ performance. experts can also review the acceptance risk analysis of the software used to better understand in pr es s 9the role of external auditor .... 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(2018). faktor-faktor yang memengaruhi penerimaan dan penggunaan sistem informasi pengelolaan keuangan daerah (sipkd) dalam perspektif the unified theory of acceptance and use of technology 2 (utaut 2) di kabupaten semarang. jurnal akuntansi dan auditing, 15(1), 37. https:// doi.org/10.14710/jaa.15.1.37-68 venkatesh, v., morris, m. g., davis, g. b., & davis, f. d. (2003). user acceptance of information technology: toward a unified view. mis quarterly, 27(3), 425-478. in pr es s 11the role of external auditor .... (kevin deniswara, et al.) https://doi.org/10.1006/mvre.1994.1019 weyant, e. (2022). research design: qualitative, quantitative, and mixed methods approaches, 5th edition. journal of electronic resources in medical libraries, 19(1-2), 54-55. https://doi.org/10.1080/1 5424065.2022.2046231 widuri, r., o’connell, b., & yapa, p. w. s. (2016). adopting generalized audit software: an indonesian perspective. managerial auditing journal, 31(8/9), 821-847. https://doi.org/https://doi.org/10.1108/ maj-10-2015-1247 zadorozhnyi, z.-m., muravskyi, v., shevchuk, o., & bryk, m. (2021). innovative accounting methodology of ensuring the interaction of economic and cybersecurity of enterprises. marketing and management of innovations, 4, 36-46. https://doi. org/10.21272/mmi.2021.4-03 accounting, business, management, and information system volume 4, nomor 2, september 2003 issn: 1412 1212 pelindung dr. th. widia soerjaningsih once kurniawan, s.kom., m.m. ir. bahtiar s. abbas, m.sc., ph.d. redaktur utama prof. dr. gerardus polla, m.app.sc. dewan redaksi parulian sihotang, ak., m.acc., ph.d. ir. harjanto prabowo, m.m. e.a. kuncoro, s.e., m.m. mitra bestari dr. hekinus manao, m.acc., c.g.f.m. (universitas indonesia) dr. sudarwan, m.b.a., q.i.a. (universitas trisakti) dr. ir. roy sembel, m.b.a. (program pascasarjana universitas bina nusantara) edi timbul hardiyanto, s.e., ak., m.sc., m.b.a., b.a.p (institut pendidikan internal auditor indonesia) dr. suroso isnandar, m.sc. (university of abertay, united kingdom) marien van den boom, ph.d. (inholland university, the netherlands) editor dra. endang ernawati, m.lib. titik rahayu s., s.s. agung pramanto, s.s. sekretariat hery h.m., s.kom. tri septi wulansari harkat christian zamasi alamat sekretariat subbiro publikasi ilmiah bidang ekonomi, biro penelitian dan publikasi, universitas bina nusantara jl. kebon jeruk raya no. 27, kemanggisan, jakarta barat 11530 telp. (021) 5345830, 5350660 ext. 1706 fax. (021) 5300244 e-mail: heryhm@binus.ac.id issn 1412-1212 subbiro publikasi ilmiah bidang ekonomi universitas bina nusantara accounting, business, management, and information system volume 4, nomor 2, september 2003 issn: 1412 1212 daftar isi kata pengantar................................................................................................................................ v idi setyo utomo keseriusan pengelolaan administrasi materiil di instansi pemerintah (contribution administration management on government institution needs a serious attention)....................................................................................................... 6371 idris gautama penggunaan pengungkit dalam mengembangkan bisnis (the use leveraging in developing business)..................................................................... 72-77 budiman notoatmojo perencanaan model penanggulangan kemiskinan petani berlahan sempit (alleviation model planning for the poor small farmers land-holding)....................... 78-93 parulian sihotang a longitudinal analysis of the indonesian production sharing contracts (psc): the question of economic accountability............................................................................ 94-111 beatrik messah factors influencing indonesian internet users intention on buying books online..... 112-126 ita mariza pengukuran kinerja dengan balanced scorecard (performance measuring using balanced scorecard)...................................................... 127-137 kadiman pakpahan strategi investasi di pasar modal (investment strategy on capital market)............................................................................ 138-147 *corresponding author p-issn: 1412-1212 e-issn: 2541-2388 119 the winners, 21(2), september 2020, 119-128 doi: 10.21512/tw.v21i2.6797 the effect of ad content and ad length on consumer response towards online video advertisement djoko raditya1; willy gunadi2; dennis andariski setiono3*; jonathan andreas rawung4 1,2,3management department, binus business school undergraduate program, bina nusantara university jl. kebon jeruk raya no. 27, kebon jeruk, jakarta 11530, indonesia 4pt blue power technology, jakarta, indonesia centennial tower 12th floor, jl. gatot subroto jl. peltu rahmat sidup no. kav. 24 25, semanggi, jakarta selatan 12930, indonesia 1djo_raditya@yahoo.com; 2wgunadi@binus.edu; 3dennis.setiono@binus.ac.id; 4jonathan.rawung@binus.ac.id received: 13th november 2020/ revised: 27th november 2020/ accepted: 08th december 2020 how to cite: raditya, d., gunadi, w., setiono, d. a., & rawung, j. a. (2020). the effect of ad content and ad length on consumer response towards online video advertisement. the winners, 21(2), 119-128. https://doi.org/10.21512/tw.v21i2.6797 abstract the research aimed to determine the moderating effect of advertisement (ad) length on the relationships between ad content and the intention of skipping, as well as ad irritation. the research attempted to fill in the lacuna in the academic literature on the said issue. in doing so, it examined consumers' responses towards the consumers' intention of adskipping and irritation. the experimental research utilized four video ads with varying durations and containing both entertaining and boring content, with long and short ad length. the research sample comprised 120 respondents spend at least more than 1 hour online. the research employed convenience sampling and the method of univariate analysis of variance linear model. ibm spss statistics was used for data analysis. the results reveal that the content and length of an online video ad have a direct effect on consumers' ad irritation and intention of skipping. the research concludes that the perceived entertainment of an online video ad significantly affects consumers' intention of skipping and ad irritation. furthermore, the length of video ads has a major impact on their intention of skipping and ad irritation. keywords: ad content, ad length, consumer response, online video advertisement i. introduction ever since the introduction of the broadband internet and the widespread use of smartphones worldwide, especially during the mid-2010s, the number of internet users has soared. according to statista.com, as of october 2019, there were a total of 4,536 million internet users, an increase of 8% from 2018 to 2019. the number is expected to grow even higher with the current trend of global tech companies, such as google, which has expanded their sphere of influence worldwide. one of the most common online activities is video viewing from such websites as youtube. purposes for this activity vary, ranging from entertainment to education. anderson (2018) argues that watching videos on youtube helps relieve stress or escape from stressful day-to-day activities. however, being exposed to too many ads cause irritation towards the ad (zhou & xue, 2019). video platforms, such as youtube, has created a method to reduce the ad irritation caused by providing the option to skip the video ad to hopefully reduce their irritation towards the video-sharing site and purchase intentions (belanche, flavián & pérez-rueda, 2017). on the other hand, irritated viewers are more likely to avoid these video ads by clicking on the skip-ad button. a recent research based on a nationally representative sample finds that about two-thirds of viewers skip in-stream commercials. those who skip the ads are less likely to recall the brand or engage in search of advertising-related terms (manatt, 2017; pashkevich et al., 2012). previous research have examined the effectiveness of an online video ad is on a video sharing platform. however, only a few research have pinpointed the factors to why viewers skip online video ads and lead to ad irritation. the research analyzes the effects of ad content on a consumer's ad irritation and intention of skipping ads when moderated by ad duration. the research helps the marketer adapt their video ad to be more favorable towards consumers. furthermore, ducoffe (1996) supports this by saying 120 the winners, vol. 21 no. 2 september 2020, 119-128 that the attitude a consumer gives towards an ad is also affected by the entertainment and irritation value of the advertisement. this affects a consumer's intention towards the ad itself, which is a factor in consumer behavior and their response towards the ad. ducoffe (1996) develops three distinct factors that influence a viewer's attitudes towards online video ads. it proves that viewers' attitude towards an advertisement is determined by their perception of entertainment, informativeness, and irritation towards it. informativeness is usually defined as the advertising's ability to give viewers information about alternative product options (ducoffe, 1996). scholars use these factors to identify how effective an advertising model is on various platforms, such as facebook, for hotel reservations (hamouda, 2018), twitter (murillo, merino & núñez, 2016), youtube (yang et al., 2018), search engine (murillo, 2017), and others. it can be concluded that any uninteresting advertisement will be seen as irritating by consumers. ducoffe (1996) mentions that entertainment triggers positive emotions for consumers when they watch an ad. tsai and men (2017) has found the entertainment value to be a factor to promote engagement of an advertisement with consumers. entertainment attributes have a positive effect on the creation of advertising value (hamouda, 2018; núñez-barriopedro et al., 2019). advertising needs to entertain its consumers as it is believed that it can increase the effectiveness of the message as it can help catch consumers' attention (goodrich et al., 2015) and generate a positive attitude of the viewers (puwandi, 2019). there has been plenty of research regarding the correlation between the length of an ad and its effects. however, only a few have tackled the correlation between the length of an ad and its content (song et al., 2020; “mrc cross-media”, 2020). the most effective ad duration comprises six-seconds (fleck, 2018). jones (2016) finds that fifteen-second ads lead to the highest level of brand recall compared to thirty-second and longer ads. this is proven true as 40% of all online video ads have a fifteen-second duration, making it the most common video ad format (krizelman, 2019). short ads, which last around 6 seconds, are also preferred by brands as they realize that long ads are bothering customers in general. also, customers' tolerance for these long ads is getting shorter and shorter each passing day (“why you should be”, 2017), resulting in these ads being perceived negatively (herhold, 2018). however, consumers also feel annoyed towards ads that are too short (goodrich et al., 2015). based on these findings, consumers poorly receive thirty-second mandatory ads called "pre-roll" ads with regards to purchasing intention. instead, it can be assumed that it will cause irritation and a higher intention to skip, as today's viewers are likely to find ads with a length of 30 seconds or longer to be too long for an online video ad (wasserman, 2020). even though ads that last for too long are received negatively by consumers, when the main purpose or objective of the ad is to persuade consumers or to attract consumers to their brand, then ads that last longer are much more effective to deliver the message (li and lo, 2015). on the other hand, the perceived length of an ad may be subjective to different viewers (gesenhues, 2014); thus, figuring the ideal length for a video ad may prove challenging. campbell et al. (2017) find that consumers tend to find pre-roll ads or online video ads that play before their chosen video content to be much more intrusive than regular online video ads. this can perfectly describe the feeling of advertising intrusiveness, which negatively affects consumers' attitudes and intentions (mccoy et al., 2017; redondo et al., 2018; park et al., 2019) and lead to ad avoidance (chung, 2020). hence, intrusiveness in an ad can have a strong impact on marketing outcomes for marketers. as the length of an ad increases, waiting time will be longer, and thus perceived intrusiveness and irritation should rise as well. entertaining itself can be defined as being funny and enjoyable. it is an important factor in regard to an ad regardless of its form, as it can affect the perceptions of the value the advertising has (hamouda, 2018) and further supported by mahatmavidya and yasa (2020) that entertainment is an important factor when customers see ads. when an ad has a very high entertainment content, is very humorous, and can find a relatable way of delivering the advertisement to the customers, it is much easier for consumers to understand and enjoy it (giao and vuong, 2020; dehghani, 2016). this also lures consumers, as with the help of entertainment, they can feel enjoyment and fulfill their needs for enjoyment, emotional release, as well as a pleasure to experience the stories as unforgettable ones. it is mainly because consumers usually expect to see interesting and entertaining values from these ads, which normally involves a unique execution (such as its interactivity, appeals, and experience) on how they deliver the ad (zhang and mao, 2016). nevertheless, this kind of ad will mesmerize and retain the consumer's attention, encourage involvement, and take the stories in the ad with them. a previous research shows that entertaining ads are found to provide enjoyment and fun (shareef et al., 2018). by reversing this logic, it is assumed that the ads that are neither entertaining nor boring will make consumers feel irritated. the relationship between ad content and ad irritation appears strongest when the ad length is long. in contrast, the ad irritation appears lowest when the ad length is short. ad length thus has a moderating effect on ad irritation. the feeling of annoyance and irritation tends to happen when consumers feel that they have less control and freedom over the choices that they can make or have (amarnath & jaidev, 2020). this is true regarding online advertising that appears on video streaming websites and other social platforms. ducoffe (1996) states that consumers will be irritated with ads when it is perceived as annoying, offensive, or manipulative. as such, the perceived intrusiveness of an online video ad will cause consumers to feel irritated towards them. several research in the past also have found 121the effect of ad content and ad length on..... (djoko raditya, et al.) issues related to advertising irritation (kim, 2018; jeon et al., 2019; youn and shin, 2019; kempers, 2020). one of the many reasons for the occurrence of ad irritation is related to the characteristics of native advertising, which is a form of ad that matches the form and function of the platform it appears in (youn and kim, 2019). these kinds of ads have proven to create a strong negative perception from consumers, such as feelings of obstruction, restrain, irritation, and cluttering, which leads to the consumers wanting to avoid these ads even more. although the perceived irritation from advertising may differ from everyone, some individuals may not consider ads that are irritating to others to be irritating as it still makes sense to them not to consider it ridiculous, much more irritating (warren, barsky & mcgraw, 2018). cho (2004) supports this fact by pointing out that irritated viewers are highly likely to avoid commercials by clicking the skip-ad button. seyedghorban et al. (2016) also found that when a consumer is faced with obstructions to their goals, has bad experiences towards ads, and perceived ad clutter will lead to ad avoidance on the internet customer's cognitive, affective, and behaviors towards it. multiple research have studied advertising avoidance both in a traditional media environment and the online media environment (huh et al., 2015; vohra and bhardwaj, 2019). one of the many reasons that consumers avoid an ad is when they feel that the advertising is not relevant to them (li and huang, 2016) or when the advertising is perceived as being obstructive (jung et al., 2016). other research have suggested that the negative perception the ads received from users stems from the belief that these users feel their privacy on the internet is gone. the consumers believed that they are being targeted and tracked by these ads when they encounter an ad without their consent (lee and hong, 2016). therefore, consumers will avoid advertising whenever possible (dodoo & wen, 2019). a survey at statista also shows that 32% of the u.s. total consumers agreed that video ads on youtube are very annoying (“share of consumers”, 2019). this could explain the consumers' feeling of ad irritation and the high intention of skipping ads. they will do anything to avoid the video ad, which is stopping them from reaching their goal. concerning this, ads that cannot be skipped regardless of duration are the most hated type of video ads (willner, 2018), as it can generally be agreed that no customer would like to wait (hardisty & weber, 2020). however, it can be assumed that the perceived entertainment value of an ad will highly affect a customer's attitude and intention of skipping ads when they find it entertaining, regardless of the length of the ad. a delay to a consumer's desired content can be perceived as anticipation. when a consumer is anticipating a future positive outcome, it can be called savoring (chun et al., 2017). however, when a negative feeling is perceived while consumers are anticipating a positive outcome (e.g., seeing an online video ad before watching a chosen content), it is called impatience. as such, it can be considered that the intention to skip ad and ad irritation comes from a consumer's impatience to view their chosen content. as the length of an ad increases, the waiting time will increase. thus, perceived intrusiveness and irritation should also increase. with the increase of ad irritation, people will likely have more intention to skip the ads. this leads to viewers clicking on the "skip-ad button" as a form of "avoidance" or "escaping" the source of irritation (campbell et al., 2017). benes (2018) also supports this as 65% to 90% of consumers will skip video ads as soon as the option to do so is available. petrovici (2017) finds that consumers always perceive ads on the internet to be disruptive and considered to be an obstacle. the ads disrupt them from enjoying their chosen content, and this is further supported by a survey on youtube, google's videosharing platform. the survey shows that the biggest complaint on youtube content is the in-stream commercials (pashkevich et al., 2012). depending on the consumer's perception, video advertising that lasts for more than 15 seconds is irritating and is deemed too long, while those that last for 15 seconds or less are more acceptable and less irritable (gesenhues, 2014). as stated previously, the entertainment value of an ad will make it much more enjoyable to watch, thus leading to a lower intention of skipping ads even when the length of the ad is deemed to be extended. this creates a relationship between ad content, and the intention of skipping ads becomes strongest when the ad length is long. therefore, when the length of the video ad is perceived to be short, consumers will feel less irritated and thus have less intention to skip the ad. based on the previous research, it can be hypothesized that the length and content of an ad can affect the intention of skipping ads and the irritation of a viewer towards it. ii. methods hypotheses are tested through an experiment utilizing actual scenarios to see if the hypotheses are true. a website is prepared to accommodate a real video streaming experience similar to youtube and four ad videos with varying criteria. several manipulation checks surveys are conducted prior to the main experiment to ensure the participant perceived, comprehend, and reacted as expected of interest contained within the independent variable (hoewe, 2017). four separate manipulation checks are prepared, each with the four variables in them, to ensure that there is no comparison and bias from the participants. each manipulation check is distributed to different individuals without overlapping the different manipulation checks. 40 participants are gathered to proceed with the manipulation checks. the manipulation checks and the main experiment are conducted in a video streaming website similar to youtube. the manipulation checks were conducted from may 11th, 2020 to may 13th, 2020, and then 122 the winners, vol. 21 no. 2 september 2020, 119-128 the main experiment was proceeded from may 14th, 2020 until may 16th, 2020. using a convenience sampling method, the experiment and survey are conducted online using a google survey to determine the participants' behavior and preference regarding online video ads. the link to this survey is posted on our social media. these individuals are eligible if they use the internet regularly or spend at least one hour browsing the internet daily. according to cohen et al. (2007), experimental methodologies require at least 15 participants. however, 30 respondents are tested for each condition. a factorial design is used with two independent variables and two dependent variables, creating a 2x2 between the subject. therefore, a total of 120 participants is gathered for this experiment. the data are analyzed with spss using univariate analysis. the research aims to prove and show the importance of the relationship between ad content in an online video ad with the intention of skipping ads and ad irritation of the consumers. the research model is presented in figure 1. the questions used to determine the measurement of irritation are adopted from a 5-item scale of perceived irritation (li, edwards & lee, 2002). participants agree that the ad that they watched is: (1) irritating, (2) phony, (3) ridiculous, (4) stupid, or (5) terrible, on a 5-point scale anchored by "strongly disagree" (=1) and "strongly agree" (=5). in measuring the intention of skipping ads, the research adapts the measurement from shehu et al. (2016). the duration and content of an ad affect viewer's intention of skipping ads and ad irritation. thus, the hypothesis of this experiment is: h1: when an ad content is boring, consumers will be more irritated if the ad length is long compared to the shorter ad length. h2: when an ad content is boring, consumers will more likely have a higher intention of skipping ads if the ad length is long compared to the shorter ad length. the criteria have two categories, ad content (entertaining and boring) and ad length (short and long). to support this purpose, manipulation checks have previously conducted to determine our hypothesized criteria. four different video ads have been collected to support four criteria, in which boring ads are ad videos with awful and unclear humor. in contrast, entertaining ads are ad videos with funny or catchy humor. two ad lengths are also considered the short and long ones. furthermore, video ad can be detailed as provided: video 1: criteria: entertaining and long title: mcdonald's 2011 straws commercial 30 seconds url: https://www.youtube.com/ watch?v=x18o6fknusc video 2: criteria: boring and long (a) (b) notes: (a) experiment 1; (b) experiment 2 figure 1 research model 123the effect of ad content and ad length on..... (djoko raditya, et al.) title: iklan tecstar 30 detik.mpg url: https://www.youtube.com/ watch?v=obtrb5csw1c video 3: criteria: entertaining and short title: [ilm 2019] e-filing 15 detik url: https://www.youtube.com/ watch?v=wncpdbyhpje video 4: criteria: boring and short title: pepsi max tv commercial, "15 seconds" url: https://www.youtube.com/ watch?v=jfja8gxx1r4 as a result of the manipulation checks, four different video ads are the same perception and will be used for the main testing. the prepared website will act similarly to youtube with videos which attracts viewers. participants can access the videos through a direct link to a video, which will direct them to the ads. after each session, there will be questionnaires that they have to fill and answer about the details of their experience and their irritation about the ads, if any. to ensure that each condition receives the same number of respondents, the number of respondents is monitored to a certain threshold. after each condition has met its required number of samples, the condition will be adjusted and changed to another video ad. each respondent are collected by sharing them a link to the experiment website and questionnaires on social media, such as facebook and instagram. iii. results and discussions the criteria used for this research's demographic information include gender, age, occupation, and educational level. while the psychological information is gathered, the observation also covers the time they spent online and whether they use adblock. the gathered data are provided in table 1, which also includes the frequency and percentage of the responses. the majority of the respondents are 71,1% male, 54,5% of the respondents are under 24 years old, with 24,8% of their latest education level being bachelors. the age range of respondents may result from how accessible the internet is now due to the widespread use of technology, such as smartphones. the highest occupation among the respondents is employees at 39,7% and students at 31,4%, which may have stemmed from the fact that many employees and students work and study very closely to their computers and gadgets, allowing them to have more time surfing the internet or watching online videos compared to entrepreneurs and other jobs. the fact that 71,1% of them spend more than three hours on the internet supports this result. table 1 respondents profile variable description frequency percentage (%) gender male 86 71,1% female 35 28,9% age <24 y.o. 66 54,5% 25-42 y.o. 55 45,5% 43-55 y.o. 0 0,0% >56 y.o. 0 0,0% education level middle school 5 4,1% high school 30 24,8% diploma 1 0,8% bachelor 78 64,5% masters 7 5,8% doctorate 0 0,0% occupation student 38 31,4% employee 48 39,7% entrepreneur 18 14,9% other 17 14,0% time spent online/day <1 hour 5 4,1% 1 3 hours 30 24,8% >3 hours 86 71,1% do you use adblocker? yes 63 52,1% no 58 47,9% the research utilizes spss software and cronbach's alpha value to determine the reliability of its research results. to be classified as reliable, the values must be greater than 0,7 (nunnally, 1978). based on this reliability test, our results have passed the reliability test. a factor analysis is conducted to confirm each validity and each category's value, which must be 0,5 or greater. based on the data in table 2, each value's factor loading has passed the minimum mark of 0 kaiser-meyer-olkin (kmo), which also indicates a good value 0,844. it can also be observed that the alpha value is 0,917 on all five items, which pass the minimum value. aside from ad irritation, the research does not implement a validity test for the intention of skipping ads, and due to its value of only having one variable and it is impossible to conduct a validity check on it. to analyze the hypotheses, the univariate analysis of variance linear model is used to examine each dependent variable's mean value. these dependent variables are ad irritation and intention of skipping ads. based on table 3, the results of the means are labeled as content and length. in order to answer our hypothesis, the significance (sig) value must be below 0,005. 124 the winners, vol. 21 no. 2 september 2020, 119-128 in figure 2, based on the video ad's ad content, consumers are more irritated when they are exposed to long ads with either boring or entertaining ad content. however, they feel much more irritated when the ad content is boring. if both ad content and ad length are combined, as listed in table 3, ad content and ad length exceed the significance value, which means that our first hypothesis is not supported. this result contradicts shareef et al. (2018), which find that entertaining ads can provide enjoyment and fun when being received. seyedghorban et al. (2016) suggest that the consumers will tend to feel irritated towards the ads and will want to avoid the ad. especially when a consumer is faced with an obstacle that prevents them from reaching their goal, perceives negative feelings towards ads, and rather sees it as an ad clutter. the intention of skipping ads is also checked to answer the second hypothesis, as shown in figure 3. consumers tend to skip ads when it is boring. however, the intention of skipping ads is significantly lower when the ad is entertaining with a shorter length. this aligns with statement by belanche et al. (2017), where an entertaining short online video ad will cause consumers to have a lower intention of skipping. this may stem from the habit and attitude that consumers have towards in-stream ads in general. when a consumer is irritated towards an ad, they will immediately decide to skip it by habit. based on table 3, table 2 cronbach's alpha value and factor analysis ads irritation factor loading kmo alpha the advertising is irritating 0,820 0,844 0,917 the advertising is fake/phony 0,669 the advertising is ridiculous 0,898 the advertising is stupid 0,900 the advertising is terrible 0,904 figure 2 mean for ads irritation figure 3 mean for intention to skipping ads table 3 univariate analysis dependent variable: ads irritation and intention to skipping ads data source ad irritation intention of skipping ad mean f sig mean f sig content 31,212 34,525 0 38,533 36,028 0 length 32,865 36,354 0 34,133 31,914 0 content * length 0,33 0,37 0,848 9,633 9,007 0,003 sig value: < 0,005 125the effect of ad content and ad length on..... (djoko raditya, et al.) when both ad content and ad length are combined, the significance value is below the maximum. thus, h2 is supported. therefore, when tackling ad irritation and intention of skipping ads, advertisers should minimize the ad length to prevent ad avoidance. when the ad length is between 15 seconds and 30 seconds, our experiment shows that shorter length ads are less irritating. in contrast, when respondents are exposed to longer ads, they feel more irritated. gesenhues (2014) suggests that the feeling of irritation felt by most consumers is a result of them having to wait and sit through for the duration of the in-stream commercials. this causes them to feel irritated, thus, more likely to skip or avoid these commercials by clicking the skip-ad button present (cho, 2004; edwards et al., 2002). as such, shorter ads with a high entertainment value will be more acceptable. on the other hand, when the ad length is deemed to be short, consumers show a lower intention of skipping. this may relate to our previous statement; if consumers are given a reason to wait, they would be less irritable, and when the entertainment content of a video ad is deemed adequate, consumers will show a lower intention of skipping the ads. iv. conclusions based on the experiment results, it can be concluded that ad content insignificantly affects a consumer's ad irritation. although several research show that ad irritation has been proven invalid (murillo et al., 2016, hamouda, 2018), it is proven that in the context of an online video ad, ad irritation has a negative influence on consumers' attitudes (more or less 28%). entertainment or enjoyment can be described as a feeling where consumers are invested and engaged in the stream of feelings from the characteristics and sensory cues that seek fun, which are arousing and enjoyable (pee et al., 2019). however, the research shows that the entertainment element is not a significant factor in online video ads. based on our experiment, an ad's content has not taken a significant role to make people skip our video ads instead of seeing them. however, when video ads are entertaining and the length is short, people tend to watch the ads. moreover, the respondents tend to skip the ad regardless of whether the ad is boring or entertaining. this aligns with previous research by doodoo and wen (2019), which suggested that consumers will avoid advertising whenever possible. as such, the research would be able to contribute to the theoretical discussion of the impact of ad irritation and intention of skipping by examining two factors that are unique to online video ads: the ad content and ad length. as shown in the current research, the different combinations of these two attributes can reduce or increase the ad irritation and intention of skipping ads. after conducting the analysis, more companies have developed their marketing strategies even around online video ads. this includes ads in social media, video sharing or streaming websites, and more. as for how a company approaches and places their product or brand in different platforms such as in online media, this may benefit the company compared to using a traditional advertising media. the reason is that it could integrated brands with its environment that enables consumers to have a high involvement with the brand and real-time constructive brand image (vashisht & sreejesh, 2015). the research shows that online advertising is a useful tool to increase a customer's awareness about a particular product, service, brand, and the market. by using online video ads, as it can deliver interaction, information and is easily accessible. dehghani et al. (2016) state that entertainment itself is an independent variable that could have a significant and positive influence on the perceived value of an ad for a customer. as seen in the previous discussion, consumers will still have a high intention of skipping ads due to the ad length whether it is entertaining or boring. this is supported by the previous research, which suggests longer ad video will keep or stall users away from their supposed goal for a set period, potentially making the consumers perception of the ad to be negative and see the ad as being intrusive, which then affects the consumer's attitude and intention towards the ad (mccoy, 2017). furthermore, the intrusive nature of an ad can be seen as the ad interrupting the fluent flow of a media environment where such advertising appears in (jankowski & lewandowska, 2017). the research shows that advertisers should highlight the importance of having short ads as the main aspect of online video ads. this is to prevent the intention of skipping ads and ad irritation. therefore, it could be challenging as an ad is supposed to not only be short but also deliver the message effectively. there are two limitations concerning this research and its experiment. first, as this experiment is done on a website that have been specifically prepared for it, there is a possibility that the consumers may react differently. another limitation that this research is that the nature and characteristic of the ad will also be different, depending on the product or service advertised in online video ads. the research mainly focuses on food and beverage ads, so consumers' responses towards different products from different industries or services may also differ. several suggestions are provided for future research to tackle this issue. one of them is the use of ad during the experiment, as the ad's content may have affected the participants' intention of skipping ads. for future research, it is suggested the video ad is limited to only using two contents with different lengths to determine whether the same ad would have a different result (i.e., one soda ad with two different lengths). additionally, there might be different results based on the type of ad (i.e., food & beverage, products & services). thus, the result may vary depending on the product category. to be more specific, a consumer's 126 the winners, vol. 21 no. 2 september 2020, 119-128 level of involvement depends on the product category and may result in different results and behavior (cruz, leonhardt & pezzuti, 2017). a positive correlation might occur when a certain degree of consumer involvement correlates with the ad's effectiveness (soliha & widyasari, 2018). more in-depth research may be needed to determine measurements to accurately examine the intention of skipping ads in online video ads. factors such as consumers' habits and the chance that they may have seen the ad prior could influence their intention of skipping the ads. future researchers may implement an eye-tracking method to see how long a consumer focuses on the ad before feeling irritated or show intentions of skipping. this may help examine the kind of entertainment value that is effective for consumers. references amarnath, d. d., & jaidev, u. p. 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(2019). in-feed native advertising on news websites: effects of advertising format, website reputation, and product involvement. journal of internet commerce, 18(3), 270-290. https://doi.org /10.1080/15332861.2019.1586361. accounting, business, management, and information system volume 3, nomor 1, maret 2002 issn: 1412 1212 subbiro publikasi ilmiah bidang ekonomi universitas bina nusantara pelindung dr. th. widia soerjaningsih once kurniawan, s.kom., m.m. ir. bahtiar s. abbas, m.sc., ph.d. redaktur utama prof. dr. gerardus polla, m.app.sc. dewan redaksi parulian sihotang, ak., m.acc., ph.d. ir. harjanto prabowo, m.m. e.a. kuncoro, s.e., m.m. mitra bestari dr. hekinus manao, m.acc., c.g.f.m. (universitas indonesia) dr. sudarwan, m.b.a., q.i.a. (universitas trisakti) dr. ir. roy sembel, m.b.a. (program pascasarjana universitas bina nusantara) edi timbul hardiyanto, s.e., ak., m.sc., m.b.a., b.a.p (institut pendidikan internal auditor indonesia) editor dra. endang ernawati, m.lib. ade alfiah, s.s. sekretariat hery h.m., s.kom. tri septi wulansari alamat sekretariat subbiro publikasi ilmiah bidang ekonomi, biro penelitian dan publikasi, universitas bina nusantara kampus syahdan, jl. k.h. syahdan no. 9, kemanggisan palmerah, jakarta barat 11480 telp. (021) 5345830, 5350660 ext. 2206 fax. (021) 5300244 e-mail: heryhm@binus.ac.id issn 1412-1212 accounting, business, management, and information system volume 3, nomor 1, maret 2002 issn: 1412 1212 daftar isi kata pengantar................................................................................................................... v guntur irianto pengaruh bunga deposito, kurs mata uang, dan harga emas terhadap indeks harga saham gabungan (ihsg) (impact of deposit interests, currency rates, and gold prices on stocks exchange).... 1-10 sri hutomo keterbukaan informasi mengenai perlindungan konsumen merupakan informasi yang memiliki firm specific (information freedom about consumer protection is a firm specific information)....... 11-18 chandra wibowo widhianto e-business: teknologi dan peluang bisnis di indonesia (e-business: technology and business opportunity in indonesia)................................... 19-31 wahyu haris kusuma atmaja penyusunan metodologi perencanaan strategis sistem informasi berbasis value bisnis (be vissta planning) untuk meningkatkan peran strategis sistem informasi pada suatu organisasi (bagian i) (the compilation of strategic planning method on information system based on value business (be vissta planning) for strenghtening a strategic roles of information in an institution (part i)............................................................................. 32-55 s. liawatimena; teguh arifianto; yunina saliu; hartono agus salim analisis customer relationship management terhadap kepuasan pasien pusat jantung nasional harapan kita (customer relationship management analysis of patient satisfaction in the heart center patient harapan kita hospital)........................................................ 56-78 suryanto strategi investasi di bursa saham (investation strategy in stock market)............................................................................. 79-87 ferry jie; hasan akpolat; deepak sharma; james irish how can every organization manage the operational risk?....................................... 88-103 vol. 20 no. 1 march 2019 economic, business, management, and information system journal winnersthe journal p-issn: 1412-1212 e-issn: 2541-2388 editor in chief rudy aryanto management department, bina nusantara university, indonesia managing editors arta moro sundjaja information system department, bina nusantara university, indonesia noerlina information system department, bina nusantara university, indonesia national editor board engkos ahmad kuncoro management department, bina nusantara university, indonesia idris gautama so management department, bina nusantara university, indonesia yasintha soelasih management department, atmajaya university, indonesia levyda levyda management department, sahid university, indonesia agus zainul arifin management department, tarumanegara university, indonesia language and layout editor dina nurfitria bina nusantara university, indonesia eka yanti pangputri bina nusantara university, indonesia atmawati bina nusantara university, indonesia holil bina nusantara university, indonesia secretariat haryo sutanto bina nusantara university, indonesia description the winners is a semiannual journal, published in march and september. the winner focuses on various issues spanning in economics, business, management, and information system through this scientific journal. the winners has been has been acreditied by dikti under the decree number 34/e/kpt/2018 (sinta 3) and indexed by academic research index (research bib), directory of open access journals (doaj), microsoft academic search, garda rujukan digital (garuda); bielefeld academic search engine (base), world catalogue (worldcat) and google scholar, and indonesian research repository (neliti). research and technology transfer office, bina nusantara university, anggrek campus, jl.kebon jeruk raya 27, kebon jeruk, jakarta barat 11530, tel. +621-5350660 ext. 1705/1708, fax.+621-5300244, e-mail: asundjaja@binus.edu, hsutanto@binus.edu, thewinner@binus.edu, http://journal.binus.ac.id/index.php/winners contents adi teguh suprapto; mulyono; danang prihandoko price fraction changes impact on stock trading indicators: an events study on indonesia stock exchange ..... 1-8 yulius lie; robertus nugroho perwiro atmojo; hery harjono muljo the effectiveness of o2o strategy on e-commerce transactions ...................................................... 9-17 hermawan successful implementation of enterprise resource planning ............................................................ 19-31 natasya; elia madatu tandililing; michael angelus; kevin tax e-filing system acceptance level on the taxation compliance: an application of the utaut approach ... 33-47 kevin deniswara; ratu marwaah firhatil uyuun; ang swat lin lindawati; willnaldo intellectual capital effect, financial performance, and firm value: an empirical evidence from real estate firm, in indonesia ......................................... ................... 49-60 p-issn: 1412-1212 e-issn: 2541-2388 vol. 20 no. 1 march 2019 economic, business, management, and information system journal winnersthe journal microsoft word 04_harjanto prabowo_pengaruh penggunaan teknologi.doc journal the winners, vol. 5 no. 2, september 2004: 114-136 114 studi tentang pengaruh penggunaan teknologi dan sistem informasi, sistem manajemen mutu, dan budaya organisasi terhadap kinerja manajemen perguruan tinggi swasta: studi kasus universitas bina nusantara harjanto prabowo1; bahtiar saleh abbas2; meyliana3 abstract article discusses factors that influences college management performance, those are technology and information system, quality management system, and organization culture. the research is done by using pearson correlation method, linear regression, and customer satisfaction index (csi) using cartesius diagram. based on correlation test, there are only two out of three variables having significance correlation with performance management, that are quality management system and organization culture. keywords: technology, information system, quality management system, organization culture abstrak penelitian membahas faktor yang dianggap mempengaruhi kinerja manajemen perguruan tinggi, yaitu teknologi dan sistem informasi, sistem manajemen mutu, dan budaya organisasi. penelitian dilakukan dengan metode korelasi pearson, regresi linear, dan customer satisfaction index (csi) dengan diagram cartesius. dilihat dari hasil uji korelasi didapat bahwa dari 3 variabel hanya 2 yang mempunyai korelasi signifikan dengan kinerja manajemen, yaitu sistem manajemen mutu dan budaya organisasi. kata kunci: teknologi, sistem informasi, sistem manajemen mutu, budaya organisasi, manajemen perguruan tinggi swasta 1, 2 dan 3 staf pengajar fakultas ekonomi, ubinus, jakarta studi tentang pengaruh penggunaan… (harjanto prabowo; dkk) 115 pendahuluan salah satu cita-cita bangsa, dengan dibentuknya negara kesatuan republik indonesia yang diproklamasikan pada tanggal 17 agustus 1945, adalah mencerdaskan kehidupan bangsa melalui pendidikan, sebagaimana tercantum dalam pembukaan undang-undang dasar 1945. pendidikan di indonesia sudah dilaksanakan mulai dari pendidikan dasar, menengah, dan pendidikan tinggi. keterbatasan pemerintah dalam mencukupi kebutuhan warga negaranya dalam menuntut ilmu pada tingkat perguruan tinggi yang dikelola pemerintah (negeri), membuka peluang bagi warga atau kelompok warga masyarakat untuk membuka perguruan tinggi swasta. tuntutan mutu dalam pendidikan tinggi, baik yang diselenggarakan oleh pemerintah maupuan swasta, pada era globalisasi ekonomi dunia merupakan masalah mendesak yang pemecahannya tidak dapat ditunda lagi. di sisi lain, kebutuhan akan pembaharuan fokus pada mutu dalam perguruan tinggi dipengaruhi oleh (1) meningkatnya rasa ketidakpuasan atas kinerja sistem pendidikan tinggi yang ada; (2) perubahan yang dramatis dari institusi pendidikan tinggi di dunia; (3) perkembangan pangsa pasar dan kompetisi pada perguruan tinggi, diyakini bahwa perguruan tinggi merupakan kunci pekerjaan dan perkembangan karier seseorang; (4) persaingan antarperguruan tinggi akan memicu timbulnya perkembangan teknologi pendidikan dan pembelajaran jarak jauh. tuntutan mutu melahirkan perubahan sistem institusi perguruan tinggi yang berusaha menghasilkan sinergi yang bersifat global pula, melalui kerja sama dengan universitas di luar negeri dan kerja sama antardaerah. kompetisi antarperguruan tinggi tidak dapat dihindarkan, menjawab tuntutan pangsa pasar yang semakin berkembang. mutu perguruan tinggi akan dipengaruhi oleh proses pengelolaan perguruan tinggi tersebut yang berkaitan dengan keinginan pasar, sumber daya manusia, dan sumber daya pendanaan yang disediakan, pilihan teknologi yang digunakan, dan sebagainya. upaya pengembangan sebuah perguruan tinggi umumnya dapat dipilah ke dalam tiga kategori yang paling pokok, yaitu yang menyangkut sumber daya (resources), isi (content), dan proses (process). di samping itu, tentunya ada pula aspek yang lebih abstrak, seperti wadah (organisasi), budaya (culture), dan tata-nilai (value system). ketiganya tidak dapat dikembangkan sendiri-sendiri, walaupun mungkin pentahapan dan skala prioritas masing-masing dapat saja tergantung pada strategi lembaganya. proses pengelolaan perguruan tinggi merupakan bagian komponen kinerja manajemen perguruan tinggi yang terdiri atas proses, sumber daya, dan isi. usaha pemerintah untuk merumuskan kebijakan yang memberikan paradigma baru pengelolaan perguruan tinggi ditandai dengan lahirnya pp 60 tahun 1999 dan pp 61 tahun 1999. perubahan kebijakan itu dimaksudkan untuk mendukung perubahan paradigma journal the winners, vol. 5 no. 2, september 2004: 114-136 116 pengelolaan perguruan tinggi yang mengarah pada otonomi, mutu, akuntabilitas, akreditasi, dan evaluasi. perubahan paradigma baru pengelolaan perguruan tinggi sudah seharusnya diikuti dengan perubahan paradigma pengelola perguruan tinggi. hal tersebut dilakukan dengan menempatkan nilai profesionalisme di dalam sistem dan sasaran kerjanya sehingga dapat mencapai mutu lulusan yang semakin baik. dalam usaha mencapai kinerja manajemen perguruan tinggi, pengaruh lingkungan organisasi, baik langsung maupun tidak langsung, harus diperhatikan. pengaruh lingkungan yang langsung terhadap organisasi perguruan tinggi adalah stakeholder perguruan tinggi yang terdiri atas dosen, staff, pimpinan/manajer, yayasan, mahasiswa, masyarakat, dan kompetitor. pengaruh yang tidak langsung terhadap organisasi adalah kondisi ekonomi, sosial, politik, dan teknologi yang mempengaruhi iklim organisasi beroperasi dan akan menjadi faktor potensial untuk berubah menjadi lingkungan yang berpengaruh langsung. selain pengaruh lingkungan organisasi, kinerja manajemen perguruan tinggi juga terkait dengan visi, misi, dan tujuan perguruan tinggi yang didasarkan pada dimensi (1) context dikaitkan dengan rules dan sistem kerja; (2) content yang dikaitkan dengan proses pelaksanaan manajemen perguruan tinggi; (3) conduct yang terkait dengan kompetensi para manajer dalam mengelola perguruan tinggi; (4) product yang terkait dengan output dan outcome perguruan tinggi. pengaruh lingkungan yang langsung dan tidak langsung terhadap organisasi perguruan tinggi, serta adanya keterkaitan visi, misi, tujuan perguruan tinggi terhadap kinerja manajemen membuat banyak faktor yang harus diperhatikan dalam meningkatkan kinerja manajemen perguruan tinggi. masalah untuk meningkatkan kinerja manajemen perguruan tinggi sejalan dengan masalah yang dihadapi untuk meningkatkan kinerja para manajer dan karyawan perguruan tinggi yang dapat terkait dengan kemampuan individu, sistem kerja/manajemen, penggunaan teknologi, dan budaya organisasi. universitas bina nusantara (ubinus) merupakan perguruan tinggi swasta di jakarta yang bermula sebagai pendidikan komputer jangka pendek dengan nama modern computer course (tanggal 21 oktober 1974), berkembang menjadi atk atau akademi teknik komputer (tanggal 1 juli 1981) dengan membuka jurusan manajemen informatika dan teknik informatika. status terdaftar diperoleh sejak tanggal 13 juli 1984 dengan nama amik jakarta membuka jurusan kompurterisasi akuntansi kemudian berubah menjadi amik bina nusantara pada tanggal 21 september 1985. pada tanggal 17 maret 1986 terpilih sebagai akademi komputer terbaik oleh depdikbud melalui kopertis iii jakarta. pada tanggal 1 juli 1986 didirikan sekolah tinggi manajemen informatika dan komputer (stmik) bina nusantara dengan membuka program strata-1 (s1) jurusan manajemen informatika dan teknik informatika dan pada tanggal 1 juli 1987 membuka jurusan teknik komputer (s1). pada tanggal 9 november 1987, amik bina nusantara dilebur ke dalam stmik bina nusantara, membentuk sekolah tinggi dengan program studi tentang pengaruh penggunaan… (harjanto prabowo; dkk) 117 diploma iii (diii) dan program strata–1 (s1). pada tanggal 10 mei 1993, dibuka program pascasarjana magister manajemen sistem informasi. pada tanggal 8 agustus 1996 berkembang menjadi universitas bina nusantara. (ubinus), dengan fakultas dan jurusan yang lebih lengkap yang terdiri atas fakultas ilmu komputer fakultas ekonomi, fakultas teknik, fakultas sastra, dan fakultas mipa. universitas bina nusantara merupakan perguruan tinggi swasta di jakarta yang telah mengimplementasikan sistem manajemen mutu dengan standard iso-9000 sejak 1997. selain itu, sesuai dengan visinya, teknologi dan sistem informasi sudah dikembangkan dan digunakan dalam kegiatan operasional dan manajerial di ubinus. permasalahan yang dikaji dalam penelitian ini sebagai berikut. 1. bagaimana deskripsi kinerja manajemen di universitas bina nusantara? 2. bagaimana implementasi sistem manajemen mutu dan teknologi dan sistem informasi di universitas bina nusantara? 3. apakah ada pengaruh teknologi dan sistem informasi, sistem manajemen mutu, dan budaya organisasi secara bersama-sama terhadap kinerja manajemen perguruan tinggi? 4. bagaimana meningkatkan kinerja manajemen di universitas bina nusantara? tujuan penelitian yang dilakukan sebagai berikut. 1. mempelajari dan mengungkapkan kinerja manajemen, implementasi sistem manajemen mutu, teknologi dan sistem informasi, serta budaya organisasi di universitas bina nusantara. 2. menganalisis dan mengetahui pengaruh teknologi dan sistem informasi, sistem manajemen mutu, dan budaya organisasi terhadap kinerja manajemen perguruan tinggi. 3. memberikan rekomendasi untuk meningkatkan kinerja manajemen perguruan tinggi di universitas bina nusantara. manfaat penelitian sebagai berikut. 1. penelitian ini akan mengungkapkan deskripsi kinerja manajemen perguruan tinggi di perguruan tinggi di universitas bina nusantara. hasil yang didapat diharapkan dapat memberikan gambaran yang lengkap tentang kinerja manajemen perguruan tinggi, faktor yang membedakan kinerja manajemen satu dengan yang lain sehingga dapat memberikan masukkan bagi yayasan bina nusantara. 2. pengaruh teknologi dan sistem informasi, sistem manajemen, dan budaya organisasi menjadi salah satu hasil penelitian ini sehingga dapat digunakan oleh para pengambil keputusan dalam invetasi di bidang perguruan tinggi kerangka pemikiran 1. kinerja manajemen perguruan tinggi organisasi, menurut gibson (1997:7) didefinisikan sebagai kesatuan yang memungkinkan masyarakat mencapai suatu tujuan yang tidak dapat dicapai individu journal the winners, vol. 5 no. 2, september 2004: 114-136 118 secara perorangan. seberapa jauh sebuah organisasi mencapai tujuannya sangatlah bergantung pada anggota organisasi, terutama para manajer yang memimpin organisasi tersebut. pengertian manajemen, menurut stoner (1994:10), adalah proses perencanaan, pengorganisasian, pemimpinan, dan pengendalian upaya anggota organisasi dan proses penggunaan semua sumber daya organisasi untuk tecapainya tujuan organisasi yang telah ditetapkan. kinerja manajemen, menurut stoner (1994:9), merupakan kinerja manajer dan karyawan secara bersama-sama yang didominasi oleh kinerja manajer dalam proses manajemen secara efektif dan efisien yang dipengaruhi oleh lingkungannya. perguruan tinggi merupakan salah satu bentuk organisasi yang bergerak dan mempunyai tujuan dalam bidang pendidikan tinggi. fungsi manajemen menurut stoner tersebut juga berlaku untuk manajemen perguruan tinggi. manajemen perguruan tinggi, disatu sisi dapat disamakan dengan manajemen perusahaan jasa lain, pelayanan merupakan faktor utama. disisi lain, dapat juga dibandingkan dengan sebuah perusahaan manufaktur yang komponen utamanya adalah mahasiswa (sebagai input) dan ilmu pengetahuan, dan hasil keluarannya (output) berupa lulusan yang bermutu dan hasi penelitian yang dilakukan oleh perguruan tinggi. menurut prabowo (1999), model bisnis perguruan tinggi dapat digambarkan sebagai berikut. sistem pendidikan dan pengajaran lulusanmahasiswa sarana & kurikulum pemerintah & akreditor tenaga pengajar masyarakat & user perguruan tinggi lain / competitor gambar 1 model bisnis perguruan tinggi berdasarkan gambar 1 terlihat adanya keterkaitan dan saling mempengaruhi antarkomponen dalam model bisnis di perguruan tinggi sehingga kemampuan mengelola perguruan tinggi akan terkait dengan kemampuan mengelola masingmasing komponen dalam model tersebut. di sisi lain, dalam penelitian disertasinya , rianto (2001:156) menyimpulkan bahwa ada korelasi antara kinerja manajemen dengan mutu lulusan perguruan tinggi. 2. budaya organisasi pengertian budaya organisasi, menurut turner (1994:97), adalah perilaku yang sesuai, kontrak atau perjanjian, dan motivasi individu, berasal dari dalam diri orang studi tentang pengaruh penggunaan… (harjanto prabowo; dkk) 119 orang kemudian diatur bersama menghasilkan kapasitas secara umum yang dapat memberikan penyelesaian terhadap kemenduaan, perselisihan atau dilema, termasuk melihat perilaku orang dalam organisasi. menurut pearce (1991,:134-137), budaya organisasi adalah serangkaian asumsi yang dimiliki bersama-sama oleh setiap anggota organisasi secara umum yang terdiri dari keyakinan yang dihayati dan nilai yang dianuti secara umum oleh anggota organisasi. kuat-lemahnya suatu budaya organisasi, menurut dess (1993:89), dapat dilihat dari (1) rasa identitas dan rasa kesatuan anggota organisasi; (2) kemantapan hubungan antara sub kultur dan seluruh budaya organisasi; (3) kemampuan budaya organisasi membantu pengembangan inovasi, kreatifitas, dan sikap keterbukaan terhadap ide baru; (5) motivasi dari pimpinan (manajer) dan karyawan yang didasarkan pada penghargaan materi dan nonmateri. perguruan tinggi sebagai sebuah organisasi yang mempunyai anggota yang berinteraksi satu sama lain, tentu mempunyai budaya organisasi, walaupun sering tidak didefinisikan atau dirumuskan dengan jelas. dalam penelitian disertasinya, rianto (2001:156) menyimpulkan bahwa ada korelasi antara budaya organisasi dengan mutu lulusan perguruan tinggi. 3. sistem manajemen mutu perguruan tinggi untuk mencapai tujuan organisasi dan menjalankan fungsi manajemen, diperlukan suatu sistem kerja yang mengatur hubungan antaranggota organisasi melalui urutan proses kerja yang sistematis dan mempunyai sasaran yang jelas. sistem kerja yang berorientasi pada mutu telah mempunyai standar internasional yang dikenal dengan nama sistem manajemen mutu iso-9000 yang merupakan salah satu standar yang digunakan sebagai metode dalam manajemen mutu. pengertian mutu berkembangan sejalan dengan perkembangan masyarakat, begitu juga dengan sistem dan manajemen mutu. sampai saat ini, pandangan produsen terhadap mutu produk dan jasa telah mengalami evolusi melalui empat era: era inspeksi, era pengendalian mutu secara statistik, era jaminan mutu, dan era manajemen mutu secara strategis. perguruan tinggi sebagai sebuah organisasi juga memerlukan sistem kerja yang baik sehingga dapat lebih menjamin tercapainya tujuan organisasi. sistem manajemen mutu perguruan tinggi, menurut prabowo (2000), didefinisikan sebagai sebuah sistem yang mendasarkan pada standar sistem manajemen mutu, menunjukan kompetensi lembaga, dan untuk menjamin berlangsungnya operasi terusmenerus dari seluruh proses perkuliahan, penelitian, dan pelayanan yang bermutu untuk pencapaian akhir produk jasa unggulan perguruan tinggi.. 4. pengertian teknologi informasi dan sistem informasi istilah teknologi informasi mulai digunakan pada tahun 1980-an merupakan pengembangan teknologi komputer yang dipadukan dengan teknologi informasi. menurut indrajit (2000:2) yang dimaksud teknologi informasi adalah suatu teknologi yang berhubungan dengan pengolahan data menjadi informasi dan proses penyaluran data/informasi tersebut dalam batas ruang dan waktu. journal the winners, vol. 5 no. 2, september 2004: 114-136 120 pengertian sistem informasi, menurut indrajit (2000:3), merupakan suatu kumpulan komponen perusahaan atau organisasi yang berhubungan dengan proses penciptaan dan pengaliran informasi. menurut o’ brien (1999:9), “an information systems is an organized combination of people, software, hardware, communication networks, and data resources that collects, transforms, and disseminates information in an organization.” jadi, sistem informasi merupakan kombinasi komponen dalam perusahaan atau organisasi yang terdiri atas orang, sistem, dan prosedur, serta teknologi informasi untuk melakukan pengolahan data menjadi informasi dan menyalurkannya untuk digunakan oleh organisasi. di dalam bisnis, sistem informasi dapat diklasifikasikan menjadi 2 bagian besar, yaitu sistem informasi pendukung operasi dan sistem informasi mendukung manajemen yang masing-maisng masih terbagi lagi dalam bentuk yang lebih rinci. perguruan tinggi sebagai organisasi layanan, tentu saja dapat memanfaatkan teknologi dan sistem informasi untuk kegiatan operasional maupun kegiatan manajerialnya. 5. hubungan teknologi dan sistem informasi dengan kinerja manajemen perkembangan teknologi informasi yang cepat dan maju, telah diaplikasikan dalam berbagai bentuk sistem informasi untuk mendukung kegiatan operasional dan manajemen. sejalan dengan semakin ketatnya persaingan dalam bisnis, organisasi yang menggunakan teknologi informasi dapat menggunakannya untuk kekuatan bersaing. di sisi lain, kinerja manajemen, sangatlah ditentukan dari prestasi para manajer dalam memimpin dan menjalankan fungsi manajemen dalam organisasi sehingga penggunaan teknologi dan sistem informasi akan dapat membantu meningkatkan kemampuannya. dari hal tersebut, diduga ada hubungan pengaruh teknologi dan sistem informasi terhadapkinerja manajemen. 6. hubungan sistem manajemen mutu dengan kinerja manajemen salah satu tujuan organisasi adalah menghasilkan suatu produk yang akan digunakan oleh pemakai/customer, baik berupa produk jasa maupun produk barang. di dalam mencapai tujuan organisasi itulah, fungsi manajemen yang menjadi tanggung jawab manajer dijalankan. di dalam menjalankan fungsi manajemennya, para manajer memerlukan sistem kerja atau sistem manajemen yang baik. sistem manajemen mutu merupakan sistem manajemen yang berfokus pada harapan pelanggan dan kepuasan pelanggan. berdasarkan hal tersebut, diduga ada hubungan pengaruh sistem manajemen mutu terhadap kinerja manajemen. 7. hubungan budaya organisasi dengan kinerja manajemen di dalam mencapai tujuan organisasi, para manajer memerlukan kerja sama dengan semua anggota organisasi, berinterkasi satu sama lain dalam menjalankan fungsi manajemen. di dalam interaksinya, tumbuh komunikasi dan saling ketergantungan antara anggota organisasi dengan manajer. kemampuan para manajer dalam menggerakan anggota organisasi untuk mencapai tujuan yang diinginkan tidak hanya bergantung pada kemampuan teknis semata tetapi juga kemampuan dalam studi tentang pengaruh penggunaan… (harjanto prabowo; dkk) 121 mempengaruhi dan memberikan keyakinan kepada seluruh anggota organisasi tersebut untuk mencapai tujuan secara bersama-sama. di sisi lain, budaya organisasi yang tumbuh dan berkembang dapat memberikan kekuataan atau sebaliknya kelemahan bagi para manajer dalam mencapai tujuan organisasi. berdasarkan hal tersebut, diduga ada hubungan pengaruh budaya organisasi terhadap kinerja manajemen. 8. paradigma/model bertitik tolak pada seluruh kerangka pemikiran tersebut, dapat dirumuskan paradigma atau model keterkaitan kinerja manajemen perguruan tinggi, budaya organisasi, teknologi dan sistem informasi, dan sistem manajemen mutu, seperti gambar berikut ini. teknologi dan sistem informasic (x1) sistem manajemen mutu (x2) budaya organisasi (x3) k in er ja m an aj em en ( y ) gambar 2 paradigma penelitian hipotesis: hipotesis 1 penggunaan teknologi dan sistem informasi, implementasi sistem manajemen mutu, dan budaya organisasi secara bersama-sama mempengaruhi kinerja manajemen perguruan tinggi hipotesis 2 terdapat korelasi timbal balik antara teknologi dan sistem informasi, implementasi sistem manajemen mutu, dan budaya organisasi desain penelitian 1. obyek penelitian adalah staf tingkat manajer di universitas bina nusantara. 2. jenis penelitian dilihat dari tujuannya, penelitian ini ingin mendapatkan deskripsi tentang kinerja manajemen perguruan tinggi dan menguji perihal pengaruh penggunaan teknologi dan sistem informasi, implementasi sistem manajemen mutu, dan budaya organisasi terhadap kinerja manajemen perguruan tinggi. sesuai dengan tujuan yang ingin dicapai, digunakan dua jenis penelitian, yaitu penelitian deskriptif dan penelitian verifikatif. penelitian deskriptif adalah penelitian yang bertujuan untuk mendapatkan deskripsi tentang ciri-ciri variabel (kinerja manajemen perguruan tinggi, penggunaan teknologi dan sistem informasi, journal the winners, vol. 5 no. 2, september 2004: 114-136 122 implementasi sistem manajemen, dan budaya organisasi). penelitian verifikatif merupakan jenis penelitian yang bertujuan untuk mengetahui hubungan antarvariabel melalui pengujian hipotesis. di dalam pengujian hipotesis, digunakan tipe penyelidikan hubungan pengaruh (causality) antara penggunaan teknologi dan sistem informasi, implementasi sistem manajemen mutu, dan budaya organisasi terhadap kinerja manajemen perguruan tinggi. 3. metode yang digunakan mengingat jenis penelitian terdiri atas deskriptif dan verifikatif dilaksanakan melalui pengumpulan data di lapangan, metode penelitian yang digunakan adalah dua metode survei, yaitu descriptive survey dan explanatory survey. tipe investigasi menggunakan tipe korelasi dan kausal. 4. unit analisis dan time horizon unit analisis yang diambil adalah individu manajer organisasi universitas bina nusantara. pengamatan menggunakan cakupan waktu “one shoot”/cross sectional. 5. definisi, operasionalisasi, dan pengukuran variabel variabel independen utama dalam penelitian ini adalah teknologi dan sistem informasi, sistem manajemen mutu, dan budaya organisasi sedangkan variabel dependennya adalah kinerja manajemen perguruan tinggi. jabaran dan operasional masing-masing variabel dapat dilihat dalam tabel 1. tabel 1 operasionalisasi variabel penelitian variabel/ subvariabel konsep variabel/ subvariabel indikator kinerja manajemen penilaian terhadap kinerja pengelola perguruan tinggi perumusan peraturan akademi perumusan standar kinerja manajemen perumusan dan pengisian jabatan penting pemanfaatan peluang yang memfasilitasi kinerja manajemen kesesuaian pelaksanaan manajemen dengan ketentuan kesesuaian pelaksanaan manajemen dengan kom petensi manajer dorongan pemanfaatan peluang organisasi dorongan bagi kinerja manajer kompetensi nyata yang dimiliki oleh para manajer kinerja nyata yang dilakukan para manajer keterkaitan dengan tujuan organisasi keterkaitan dengan kepentingan pelanggan studi tentang pengaruh penggunaan… (harjanto prabowo; dkk) 123 tabel 1 operasionalisasi variabel penelitian (lanjutan) budaya organisasi penilaian terhadap kondisi penyelengaraan perguruan tinggi visi, misi tujuan dan sasaran strategi koordinasi kesepakatan nilai-nilai inti pembuatan perubahan perhatian pada pelanggan pembelajaran organisasi teknologi dan sistem informasi penilaian terhadap penggunaan teknologi dan sistem informasi keterbaharuan (up to date) kemudahan penggunaan kelengkapan aplikasi dengan kebutuhan proses bisnis kelengkapan data dan informasi yang diperlukan tingkat kebenaran data sistem manajemen mutu penilaian terhadap sistem prosedur operasional pelaksanaan pelayanan pelanggan kelengkapan kejelasan sosialisasi mekanisme feedback dari pelanggan tindak lanjut pelaksanaan audit sistem 6. teknik penentuan sampel responden penelitian itu adalah staf tingkat manajer ubinus yang berkantor di kampus syahdan, anggrek, dan kijang. staf tingkat manajer di ubinus adalah kepala biro, kepala upt, ketua jurusan, sekretaris jurusan, dekan, direktur, dan rektorat. jumlah staf tingkat manajer = 61 orang dan dalam penelitian ini 45 orang. 7. teknik pengumpulan data dalam penelitian ini, digunakan kombinasi teknik pengumpulan data yang terdiri dari berikut ini. a. wawancara o dengan staf tingkat manajer di ubinus yg diilih secara random dari populasi yang ada. o kuesioner, digunakan untuk pengumpulan data dari responden. b. observasi dilakukan terhadap sumber data sesuai dengan unit observasi/analisis yang telah disebutkan. 8. metode analisis sebelum pengambilan data dilakukan, dilakukan beberapa pengujian terlebih dahulu, yaitu pengujian validitas dan pengujian reliabilitas. pengujian validitas dimaksudkan untuk menunjukkan sejauh mana suatu alat ukur cocok mengukur apa yang ingin journal the winners, vol. 5 no. 2, september 2004: 114-136 124 diukur. jadi, semakin tinggi validitas suatu alat ukur maka alat ukur tersebut semakin mengenai sasarannya atau semakin menunjukkan apa yang seharusnya diukur. pengujian reliabilitas untuk menunjukkan tingkat konsistensi suatu alat ukur dalam mengukur gejala yang sama. jika suatu alat ukur dipakai dua kali atau lebih untuk mengukur gejala yang sama dan hasil pengukuran relatif konsisten maka alat ukur tersebut reliabel. untuk menganalisis dan menginteprestasikan data, digunakan dua jenis analisis, yaitu (1) analisis deskriptif, digunakan untuk variabel yang bersifat kualitatif dan termasuk untuk menggali perilaku faktor penyebab; (2) analisis kuantitatif, digunakan untuk mengukur data kuantitatif dan pengujian hipotesis dengan menggunakan uji statistik. analisis itu ditekankan untuk mengungkapkan perilaku variabel penelitian. untuk pengujian hipotesis, karena sebagian data yang diperoleh berskala ordinal, harus ditingkatkan menjadi data interval. pengubahan data berskala ordinal menjadi interval dapat dilakukan dengan fasilitas perangkat lunak (software) komputer tertentu tetapi dapat juga dengan melalui method of successive interval (msi). setelah dilakukan transformasi tingkat pengukuran melalui msi, lanjutkan dengan menyiapkan pasangan data variabel dependen dan variabel independen semua sampel penelitian untuk pengujian hipotesis yang dijelaskan berikut. 9. rancangan pengujian hipotesis hipotesis 1 terdapat hubungan dan pengaruh antara penggunaan teknologi dan sistem informasi, implementasi sistem manajemen mutu, dan budaya organisasi secara bersama-sama dengan kinerja manajemen perguruan tinggi untuk menguji hipotesis tersebut, dilakukan dengan regresi linear model umum sebagai beikut. y1 = b0 + b1 x1 + b2x2 + b3x3 + e uji hipotesis: ho : b1 = b2 = b3 = 0 h1 : salah satu dari b1 s/d b3 ada yang tidak sama dengan 0 digunakan perangkat lunak/software spss versi 11.5 untuk mendapatkan hasil persamaan dan uji hipotesisnya. hipotesis 2 terdapat korelasi timbal balik antara teknologi dan sistem informasi, implementasi sistem manajemen mutu, dan budaya organisasi untuk menguji hipotesis tersebut, digunakan konsep korelasi pearson. 10. rancangan implikasi penelitian sebagai pemecahan masalah sesuai dengan identifikasi masalah yang dituliskan maka dengan melakukan penelitian yang mengacu pada tujuan penelitian dan metode penelitian, diharapkan akan didapatkan variabel dan keterkaitan antarvariabel yang dapat dipakai sebagai variabel solusi untuk pemecahan masalah. setelah didapatkan variabel solusi, dilakukan analisis untuk mendapatkan model solusi yang jelas. dalam penelitian ini. model solusi dipakai untuk menjawab bagaimana upaya meningkatkan kinerja manajemen di universitas bina nusantara. studi tentang pengaruh penggunaan… (harjanto prabowo; dkk) 125 deskripsi kinerja manajemen di universitas bina nusantara di dalam menjaga ketercapaian visi-misi dan sasaran yang telah ditetapkan, di ubinus dikembangkan model balance scorecard yang telah dimodifikasi menjadi ubinus scorecard. ubinus scorecard yang disusun berisi ukuran target kuantitatif kinerja yang ingin dicapai dan sekaligus untuk memonitor ketercapaian target yang ada. dalam pelaksanaanya, ubinus scorecard dikaitkan dalam sistem penyusunan rencana kerja dan anggaran serta evaluasinya. selain ubinus scorecard, untuk mengevaluasi kinerja manajemen di ubinus, juga dikembangkan ukuran yang terkait dengan kinerja jurusan. mengingat kinerja jurusan merupakan tanggung jawab pengelola jurusan (ketua jurusan dan sekretaris jurusan) maka model tersebut merupakan model ukuran untuk kinerja manajemen. berdasarkan hasil kuesioner yang telah diolah, didapatkan kondisi kinerja manajemen ubinus adalah baik (mean 3,01). budaya organisasi sejak tahun 2001 telah dirumuskan budaya organisasi ubinus yang dikenal dengan nama budaya mutu. rumusan budaya mutu terdiri atas beberapa hal berikut. 1. percaya kepada tuhan yang maha esa (trust in god). 2. ketuntasan (sense of closure). 3. perbaikan menerus (continous improvement). 4. penggunaan tolok ukur (benchmarking). 5. kekeluargaan (sense of belonging). untuk melaksanakan budaya mutu tersebut, juga telah dirumuskan nilai dan etos kerja. nilai kerja: a. konsisten e. adil b. egaliter f. peduli c. jujur g. berani dan bertanggung jawab d. terbuka etos kerja: a. memberi teladan dan komitmen b. saling menghormati dan menghargai c. berkomunikasi dengan baik d. give credit to everyone e. improve others budaya mutu tersebut telah disosialisasikan melalui banyak kegiatan sehingga diharapkan menjadi budaya mutu semua orang di ubinus dan dikenal dengan istilah binusian. berdasarkan hasil pengolah kuesioner, didapatkan kondisi budaya organisasi di ubinus adalah baik (mean 3,00). journal the winners, vol. 5 no. 2, september 2004: 114-136 126 teknologi dan sistem informasi sesuai dengan visi dan misi ubinus yang akan menjadi panutan di bidang penerapan teknologi informasi, penggunaan dan pengembangan sistem informasi dengan memanfaatkan teknologi informasi mendapat perhatian utama. semua komputer yang digunakan baik oleh pimpinan, staf administrasi, dosen, dan laboratorium, baik ditingkat rektorat, direktorat, maupun dekanat, terhubung dalam jaringan binus (binus net) yang menghubungkan kampus syahdan dengan kampus anggrek melalui fiber optic dan dengan wibowo center melalui radio link. sarana teknologi informasi yang digunakan meliputi 1500 pcc, 65 infocus, jaringan internet, 15 warnet, cyber@accws club dengan 100 pc, phone sevices, jaringan fiber optic, perpustkaan digital. unit organisasi yang mengelola dan mendukung kebutuhan user di semua fakultas dalam memanfaatkan teknologi informasi antara lain upt ti development, upt ti operations, upt cyber@ccess, upt lab s/w, upt lab h/w, applied technology lab, learning resource center, dan product develpment center. jumlah staf yang terkait langsung dengan pengembangan dan operasional sistem informasi sebanyak 70 orang. saat ini, semua proses secara administrasi telah fully computerized dan hampir semua kegiatan manajemen, pelayanan, dan kegiatan pembelajaran pun telah dilakukan menggunakan komputer. dari hasil pengolahan data kuesioner, dapat dilihat bahwa teknologi dan sistem informasi ubinus adalah baik (mean 2,84). implementasi sistem manajemen mutu di ubinus sistem manajemen mutu yang diimplementasikan di ubinus mengacu pada standar iso-9000 versi 2000 dengan lingkup sertifikasinya proses desain kurikulum dan materi kuliah, operasional perkuliahan, pengajaran, dan penelitian pada program pendidikan diploma tiga, strata satu, dan strata dua. sebelumnya, sejak tahun 1997 – 2001, standar yang dipakai adalah iso-9000 versi 1994. persyaratan dokumentasi sistem mutu yang diminta oleh iso-9000 versi 2000 telah dipenuhi oleh ubinus yang pengendaliannya dilakukan oleh bkm menggunakan fasilitas work-flow yang ada di lotus notes. semua dokumentasi yang bersifat rutin dan pelaporan hasil review manajemen disimpan dalam bentuk file elektronik yang dapat diakses oleh semua staf pimpinan yang mempunyai hak atas akses tersebut. kegiatan sosialisasi terhadap staf baru ataupun terhadap staf lama akibat adanya perubahan sistem selalu dilakukan, baik melalui kegiatan pelatihan/workshop maupun melalui kegiatan pertemuan/meeting yang dijadwalkan sehingga perkembangan sistem diharapkan dapat diketahui oleh semua staf dan dapat diimplementasikan. untuk memastikan jalannya sistem manajemen, di ubinus sesuai tuntutan iso9000, dilakukan kegiatan audit mutu internal (ami) yang dilaksanakan 2 kali dalam 1 tahun (sekitar bulan april dan oktober). melalui ami akan didapatkan kondisi nyata studi tentang pengaruh penggunaan… (harjanto prabowo; dkk) 127 pelaksanaan sistem manajemen yang nantinya akan dipakai sebagai bahan dalam rapat tinjauan manajemen. selain ami, setiap bulan mei dan november, ubinus mengikuti audit sistem mutu dari sgs sebagai organisasi independen yang mengeluarkan sertifikasi iso-9000. hasil audit eksternal itu juga menjadi bahan perbaikan implementasi sistem mutu. rapat tinjauan manajemen diadakan 2 kali dalam satu tahun yang dipimpin oleh rektor ubinus dan menjadi tempat bagi pimpinan ubinus untuk melakukan review atas beberapa hal berikut. 1. ketercapaian sasaran mutu. 2. ketercapaian kpi masing-masing unit kerja yang terkait dengan sistem manajemen. 3. hasil ami dan tindak lanjut hasil audit eksternal sebelumnya. 4. evaluasi tingkat layanan kepada mahasiswa dan dosen (keluhan dan saran dari mahasiswa dan dosen). 5. perubahan sistem dan prosedur. untuk menjalankan operasional sistem manajemen mutu, rektor ubinus dibantu oleh biro kendali mutu yang dipimpin oleh seorang kepala perwakilan manajemen (mr). dari hasil pengolahan data kuesioner, dapat dilihat bahwa sistem manajemen mutu ubinus adalah baik (mean 2,87). hasil uji hipotesis sesuai langkah yang dijelaskan sebelumnya, untuk menguji hipotesis, dilakukan terlebih dahulu tabulasi data hasil kuesioner dan perubahan data dari ordinal ke interval. dengan software spss versi 11.5, dilakukan pengolahan data dengan teknik korelasi dan regresi linear. 1. uji validitas dan reliabilitas. dari hasil uji reliability analysis didapat bahwa nilai alpha adalah 0,8619 sehingga dapat dikatakan bahwa kuesioner itu adalah reliable. 2. korelasi. untuk menguji hipotesis tentang adanya hubungan antarvariabel, digunakan korelasi dengan metode pearson. metode itu digunakan karena data yang diuji sudah diubah dari ordinal menjadi interval. data yang diuji untuk masing-masing variabel adalah data hasil composit dari beberapa indikator pertanyaan, yaitu dengan cara dijumlahkan. hasil pengujian variabel x dengan variabel y dapat dilihat pada tabel berikut. tabel 2 hasil korelasi antara variabel x dengan y variabel korelasi terhadap y (d) nilai signifikan x1 (a) 0,042 0,783 x2 (b) 0,336 0,024 * x3 (c) 0,642 0,000 * journal the winners, vol. 5 no. 2, september 2004: 114-136 128 dari hasil tabel tersebut, terlihat bahwa pada tingkat kesalahan (α) = 5% hanya variabel sistem manajemen mutu (b) dan budaya organisasi (c) yang mempunyai korelasi yang signifikan dengan kinerja manajemen. untuk mengetahui hubungan antarvariabel x dapat dilihat pada tabel di bawah ini. tabel 3 hasil korelasi antarvariabel x variabel x1 (a) x2 (b) x3 (c) korelasi signifikan korelasi signifikan korelasi signifikan x1 (a) 1,000 0,255 0,091 0,334 0,025 * x2 (b) 0,255 0,091 1,000 0,358 0,016 * x3 (c) 0,334 0,025 * 0,358 0,016 * 1,000 pada tingkat kesalahan (α) = 5%, terlihat bahwa variabel teknologi dan sistem informasi (a) dan sistem manajemen mutu (b) mempunyai hubungan korelasi yang signifikan dengan budaya organisasi (c), begitu juga sebaliknya. variabel teknologi dan sistem informasi (a) memiliki hubungan korelasi yang signifikan dengan sistem manajemen mutu (b) tetapi pada tingkat kesalahan (α) = 10%. regresi linear untuk menguji pengaruh variabel x terhadap y, digunakan metode regresi linear. hasil pengujiannya dapat dilihat pada tabel di bawah ini. tabel 4 hasil regresi variabel x (x1, x2, x3) terhadap y model summary model r r square adjusted r square std. error of the estimate 1 ,683 ,467 ,428 3,783509 a predictors: (constant), total c, total a, total b anova model sum of squares df mean square f sig. 1 regression 513,849 3 171,283 11,965 ,000 residual 586,913 41 14,315 total 1100,762 44 a predictors: (constant), total c, total a, total b b dependent variable: total d studi tentang pengaruh penggunaan… (harjanto prabowo; dkk) 129 karena jumlah y hanya satu maka nilai regresi yang dilihat adalah nilai r square yaitu 0,467. untuk model itu, artinya variabel teknologi dan sistem informasi (a), sistem manajemen mutu (b), dan budaya organisasi (c) hanya memberikan pengaruh secara bersama-sama sebesar 0,467 terhadap kinerja manajemen (d), sisanya sebesar 0,533 dipengaruhi oleh faktor lain (faktor residual). akan tetapi, model itu memiliki pengaruh yang signifikan, yaitu 0,000. untuk melihat pengaruh masing-masing variabel dapat dilihat pada tabel berikut. tabel 5 hasil regresi per variabel untuk variabel x (x1, x2, x3) terhadap y coefficients unstandardized coefficients standardized coefficients t sig. model b std. error beta 1 (constant) 13,267 4,610 2,878 ,006 total a -,545 ,306 -,218 -1,778 ,083 total b ,299 ,237 ,156 1,260 ,215 total c ,819 ,157 ,659 5,201 ,000 a dependent variable: total d pada tingkat kesalahan (α) = 5%, hanya variabel budaya organisasi (c) yang memiliki pengaruh yang signifikan, yaitu 0,000 dan besar pengaruhnya 0,659. variabel teknologi dan sistem informasi (a) juga memiliki pengaruh yang signifikan yaitu 0,083 tetapi pada tingkat kesalahan (α) = 10% dan besar pengaruhnya 0,218 tetapi pada arah yang berlawanan. untuk membuktikan apakah variabel teknologi dan sistem informasi (a) dan sistem manajemen mutu (b) memberikan pengaruh terhadap budaya organisasi (c) maka dilakukan pengujian regresi linear seperti tabel di bawah ini. tabel 6 hasil regresi variabel x1 dan x2 terhadap x3 model summary model r r square adjusted r square std. error of the estimate 1 ,437 ,191 ,153 3,709041 a predictors: (constant), total b, total a anova model sum of squares df mean square f sig. 1 regression 136,451 2 68,226 4,959 ,012 residual 577,793 42 13,757 total 714,245 44 journal the winners, vol. 5 no. 2, september 2004: 114-136 130 a predictors: (constant), total b, total a b dependent variable: total c hasilnya terlihat bahwa kedua variabel di atas secara bersama-sama memberikan pengaruh yang signifikan, yaitu 0,012 terhadap budaya organisasi (c) dan besar pengaruhnya 0,191. untuk melihat pengaruh masing-masing variabel, dapat dilihat pada tabel berikut. tabel 7 hasil regresi per variabel untuk variabel x1 dan x2 terhadap x3 coefficients unstandardized coefficients standardized coefficients t sig. model b std. error beta 1 (constant) 12,527 4,085 3,067 ,004 total a ,524 ,289 ,260 1,811 ,077 total b ,451 ,222 ,291 2,030 ,049 a dependent variable: total c pada tingkat kesalahan (α) = 5%, hanya variabel sistem manajemen mutu (b) yang memiliki pengaruh yang signifikan, yaitu 0,049 dan besar pengaruhnya 0,291. variabel teknologi dan sistem informasi (a) juga memiliki pengaruh yang signifikan yaitu 0,077 tetapi pada tingkat kesalahan (α) = 10% dan besar pengaruhnya 0,260. implikasi hasil penelitian berdasarkan hasil pengujian tersebut, terlihat bahwa hanya variabel budaya organisasi (c) yang memberikan pengaruh yang signifikan terhadap kinerja manajemen (d) sehingga dapat disimpulkan bahwa: kinerja manajemen = f (budaya organisasi) artinya, jika ingin kinerja manajemen meningkat maka budaya organisasi harus ditingkatkan. untuk lebih melihat poin yang harus ditingkatkan dari masing-masing variabel, digunakan pendekatan customer satisfaction index (csi) pada diagram cartesius. pada model itu, dilihat perbandingan antara harapan (yang diukur dengan derajat kepentingan) dan kenyataan (yang diukur dari kinerja sesungguhnya). perangkat bantu yang dipakai adalah kuesioner. untuk masing-masing pertanyaan, dihitung meannya kemudian dihitung mean dari satu variabel yang terdiri dari mean beberapa pertanyaan. mean dari satu variabel digunakan untuk mendapatkan sumbu x dan y kemudian mean dari masing-masing pertanyaan dipetakan untuk penentuan kuadran. studi tentang pengaruh penggunaan… (harjanto prabowo; dkk) 131 gambar 3 diagram cartesius hasil pengolahannya dapat dilihat pada tabel di bawah ini. variabel teknologi dan sistem informasi grafik teknologi dan sistem informasi -0,30 -0,20 -0,10 0,00 0,10 0,20 0,30 -0,40 -0,20 0,00 0,20 0,40 0,60 kine rja k ep en ti n g an pa1 pa2 pa3 pa4 pa5 gambar 4 grafik hubungan antara kepentingan dan kinerja variabel teknologi dan sistem informasi pada tabel tersebut, item yang masuk pada kuadran “diperbaiki/ditingkatkan” adalah kelengkapan data dan informasi (a4) dan tingkat kebenaran data/keakuratan data (a5) sedangkan yang perlu “dipelihara” adalah kemudahan penggunaan teknologi dan sistem informasi (a2). variabel sistem manajemen mutu grafik sistem manajemen mutu -0,15 -0,10 -0,05 0,00 0,05 0,10 0,15 -0,20 -0,10 0,00 0,10 0,20 kine rja k ep en ti n g an pb6 pb7 pb8 pb9 pb10 gambar 5 grafik hubungan antara kepentingan dan kinerja variabel sistem manajemen mutu diperbaiki / ditingkatkan dipelihara / dipertahankan tidak perlu difollow up dlm waktu dekat sudah melebihi harapan / kepentingan responden 4 4 1 1 csi journal the winners, vol. 5 no. 2, september 2004: 114-136 132 pada tabel tersebut, item yang masuk pada kuadran “diperbaiki/ditingkatkan” adalah sosialisasi/tingkat pemahaman (b8) dan mekanisme feedback dari pelanggan (b9) sedangkan yang perlu “dipelihara” adalah kejelasan sistem manajemen mutu (b7). variabel budaya organisasi grafik budaya organisasi -0,30 -0,20 -0,10 0,00 0,10 0,20 -0,50 0,00 0,50 1,00 1,50 2,00 2,50 3,00 3,50 kinerja k ep en tin ga n pc11 pc12 pc13 pc14 pc15 pc16 pc17 pc18 pc19 gambar 6 grafik hubungan antara kepentingan dan kinerja variabel budaya organisasi pada tabel tersebut, item yang masuk pada kuadran “diperbaiki/ditingkatkan” adalah strategi (c13) sedangkan yang perlu “dipelihara” adalah visi dan misi (c11), tujuan dan sasaran (c12), koordinasi antar bagian (c14), kesepakatan/komitmen (c15), dan perhatian kepada pelanggan (c18). variabel kinerja manajemen grafik kinerja manajemen -0,30 -0,20 -0,10 0,00 0,10 0,20 -0,40 -0,30 -0,20 -0,10 0,00 0,10 0,20 0,30 0,40 kinerja k ep en tin ga n pd20 pd21 pd22 pd23 pd24 pd25 pd26 pd27 pd28 pd29 pd30 pd31 gambar 7 grafik hubungan antara kepentingan dan kinerja variabel kinerja manajemen pada tabel tersebut, item yang masuk pada kuadran “diperbaiki/ditingkatkan” adalah pelaksanaan manajemen sesuai ketentuan yang berlaku (d24) dan pelaksanaan manajemen sesuai dengan kompetensi manajer (d25) sedangkan yang perlu “dipelihara” adalah dorongan untuk meningkatkan kinerja manajer (d27), kompetensi manajer (d28), keterkaitan antara kinerja manajemen dengan tujuan organisasi (d30), dan keterkaitan antara kinerja manajemen dengan kepentingan pelanggan (d31). studi tentang pengaruh penggunaan… (harjanto prabowo; dkk) 133 penutup simpulan kinerja manajemen perguruan tinggi di ubinus sudah dilakukan pengukuran dengan konsep balanced scorecard, yaitu ubinus scorecard serta model kinerja untuk jurusan budaya organisasi sudah dirumuskan dan disosialisasikan dengan nama budaya mutu yang terdiri atas percaya kepada tuhan yang maha esa (trust in god), ketuntasan (sense of closure), perbaikan menerus (continuous improvement), penggunaan tolok ukur (benchmarking), dan kekeluargaan (sense of belonging). penggunaan teknologi dan sistem informasi di ubinus, khususnya untuk kepentingan kegiatan manajerial sudah banyak diwujudkan dengan adanya aplikasi khusus yang dapat dipakai. sistem manajemen mutu yang diimplementasikan di ubinus menggunakan standard iso-9000 versi 2000 dengan lingkup sertifikasinya proses desain kurikulum dan materi kuliah, operasional perkuliahan, pengajaran, dan penelitian pada program pendidikan diploma tiga, strata satu, dan strata dua. dari hasil pengolahan data, didapatkan kondisi sebagai berikut. 1. diantara variabel independen, yaitu teknologi dan sistem informasi, sistem manajemen mutu, dan budaya organisasi, ternyata pada tingkat kesalahan (�) = 5%, hanya variabel budaya organisasi yang mempunyai pengaruh siginifikan terhadap kinerja manajemen. jika pada tingkat kesalahan (�) = 10% maka kinerja manajemen di ubinus dipengaruhi secara signifikan oleh variabel budaya organisasi dan teknologi dan sistem informasi. 2. pada tingkat kesalahan (α) = 5%, terlihat bahwa variabel teknologi dan sistem informasi dan sistem manajemen mutu mempunyai hubungan korelasi yang signifikan dengan budaya organisasi, begitu juga sebaliknya. variabel teknologi dan sistem informasi memiliki hubungan korelasi yang signifikan dengan sistem manajemen mutu tetapi pada tingkat kesalahan (α) = 10%. dengan diagram cartesius, didapatkan 4 kondisi antara tingkat kepentingan dengan tingkat kinerja dari masing-masing variabel penelitian, yaitu kondisi 1 (yang perlu dipertahankan), kondisi 2 (yang perlu diperbaiki/ditingkatkan), kondisi 3 (yang tidak perlu di-follow up dalam waktu dekat), kondisi 4 (yang sudah melebihi harapan/kepentingan responden). dalam tabel di bawah ini, dirangkum masing-masing kondisi untuk masing-masing variabel penelitian. journal the winners, vol. 5 no. 2, september 2004: 114-136 134 tabel 8 rangkuman kondisi csi variabel kondisi 1 kondisi 2 kondisi 3 kondisi 4 teknologi dan sistem infirmasi kemudahan penggunaan (a2) kelengkapan data dan informasi (a4) tingkat kebenaran data / keakuratan data (a5) kelengkapan aplikasi utk kebutuhan proses bisnis keterbaruan / up to date (a1) sistem manajeme n mutu visi dan misi (c11) tujuan dan sasaran (c12) koordinasi antar bagian (c14) kesepakatan / komitmen (c15) perhatian kepada pelanggan (c18) strategi (c13) nilai-nilai inti (c16) pembelajaran organisasi (c19) perubahan yg terus menerus / continuous improvement (c17) budaya organisasi kejelasan (b7) sosialisasi / tingkat pemahaman (b8) mekanisme feedback dari pelanggan (b9) kelengkapan (b6) tindak lanjut pelaksanaan audit sistem (b10) kinerja manajeme n dorongan utk meningkatkan kinerja manajer (d27) kompetensi manajer (d28) keterkaitan antara kinerja manajemen dgn tujuan organisasi (d30) keterkaitan antara kinerja manajemen dgn kepentingan pelanggan (d31) pelaksanaan manajemen sesuai dengan ketentuan yang berlaku (d24) pelaksanaan manajemen sesuai dengan kompetensi manajer (d25) perumusan peraturan akademi (d20) perumusan standar kinerja manajemen (d21) perumusan dan pengisian jabatan penting (d22) peluang yg menfasilitasi kinerja manajemen (d23) dorongan dalam memanfaatka n peluang organisasi (d26) kinerja manajer (d29) studi tentang pengaruh penggunaan… (harjanto prabowo; dkk) 135 saran 1. untuk meningkatkan kinerja manajemen di ubinus, perlu dilakukan langkah untuk meningkatkan kualitas budaya organisasi dengan tidak mengabaikan kondisi teknologi dan sistem informasi serta sistem manajemen mutu. 2. untuk meningkatkan kualitas penelitian, perlu dilakukan penyempurnaan dalam hal model paradigma penelitian sehingga akan didapatkan variabel lain yang mempengaruhi kinerja manajemen. 3. untuk memberikan manfaat yang lebih, bagi peneliti berikutnya dapat melakukan model penelitian ini di beberapa perguruan tinggi sehingga dapat diambil generalisasi atau simpulan. daftar pustaka besanko, david, dranove david, and shanley mark. 2000. economics of strategy. john wiley & sons. best, roger j. 1999. market based management. second edition. prentice hall. callo, jack d. 1996. competitive advantage through information technology. singapore: mcgraw hill. cooper, donald r. and c. william emory. 1999. metode penelitian bisnis. edisi kelima. jakarta: erlangga. craven, david w. 2000. strategic marketing. sixth edition. irwin-mcgraw-hill. dess, gregory g. and alex miller. 1993. strategic management. singapore: macgrawhill. dikti. “kerangka pengembangan pendidikan tinggi jangka panjang 1996-2005” www.dikti.org.id frederick, william c., post james e., and davis keith. 1992. business and society: corporate strategy, public policy, ethics. seventh edition. mcgraw hill. indrajit, richardus eko. 2000. pengantar konsep dasar manajemen sistem informasi dan teknologi informasi. jakarta: pt elex media komputindo. lovelock, christopher. 2001. service marketing: people, technology, strategy. fourth edition. prentice hall international. journal the winners, vol. 5 no. 2, september 2004: 114-136 136 lupiyoadi, rambat. 2001. manajemen pemasaran jasa: teori dan praktek. jakarta: salemba empat. pearce, a john ii and richard b robinson, jr. 1991. strategic management, formulation, implementation, and control. boston: irwin. porter, michael e. 1990. the competitive advantage of nations. new york: the free press. porter, michael e. 1985. the competitive advantage: creating and sustaining superior performance. new york: the free press. prabowo, harjanto. 1999. “konsep dan model sistem manajemen mutu perguruan tinggi,” makalah seminar. prabowo, harjanto. 2000. “penerapan budaya mutu di universitas bina nusantara,” makalah seminar. rianto, bibit. 2001. “mutu universitas bina nusantara sebagai perguruan tinggi swasta,” disertasi. suhendro, bambang. 1996. “pengelolaan perguruan tinggi dalam menuju peningkatan kualitas yang berkelanjutan.” makalah seminar management of higher education: anticipating the year 2020, jakarta, 27-28 nopember 1996. tampubolon, daulat p. 2001. perguruan tinggi bermutu: paradigma baru manajemen pendidikan tinggi menghadapi tantangan abad 21. jakarta: pt gramedia pustaka utama. microsoft word 02_telkom wiraniaswasty -a2t business model innovation …… (wirania swasty) 85  business model innovation for small medium enterprises wirania swasty visual communication design, school of creative industries, telkom university jl. telekomunikasi no. 1 terusan buah batu– bandung, indonesia wirania@tcis.telkomuniversity.ac.id abstract indonesian economy through small medium enterprises (smes) is expected to absorb labor and contribute to the growth of gross domestic product. however, smes lack both managerial and technical skills. this research is about business model innovation for smes especially in fashion and garment industry.study used qualitative approach by mentoring four selected smes in babakan penghulu village– cinambo subdistrict, eastern bandung. the tools used to analyze them including pest analysis, porter’s five forces, resource based view, value chain analysis and business model canvas. finding suggests smes to have business model innovation derived from value proposition. smes should build their own brand awareness. moreover, as garment and fashion industry, design can be a particularly important part of the value proposition. smes could communicate its value propositions and inform their service through its official websites and other social media. since the intangible resources include brand and design, thus smes should build brand image and innovate year by year. smes must hire designers and launch a series of new products offers under the signature of their own brands.ideation to strengthen strategies derives from value proposition building block as a starting point. moreover, business model canvas makes strategy more focused and measurable. business model innovation is expected to increase overall performance of smes. keywords: sme, business model, business model innovation, creative industry, value proposition abstrak perekonomian indonesia melalui usaha kecil dan menengah (ukm) diharap mampu menyerap lapangan kerja dan berkontribusi terhadap kenaikan produk domestik bruto. namun ukm kurang dalam keahlian manajerial dan teknologikal. paper ini bertujuan untuk mengungkapkan inovasi model bisnis bagi ukm terutama industry busana dan garmen. studi menggunakan pendekatan kualitatif dengan melakukan pendampingan pada empat ukm di desa babakan penghulu– kecamatan cinambo, bandung. alat-alat yang digunakan untuk menganalisis hal tersebut termasuk analisis pest, porter’s five forces, pandangan berdasar sumber daya, analisis rantai nilai and kanvas model bisnis. business model canvas. penemuan menyarankan ukm memiliki inovasi model bisnis yang berasal dari proposisi nilai.ukm sebaiknya membangun kesadaran mereknya sendiri. terlebih lagi, sebagai industry garmen dan busana, desain dapat menjadi bagian penting dari proposisi nilai. ukm dapat mengomunikasikan proposisi nilainya dan menginformasikan layanan mereka melalui situs resmi dan media social lainnya. karena sumber daya tak terukur meliputi merek dan desain, maka ukm sebaiknya membangun citra merek dan berinovasi dari tahun ketahun. ukm harus mempekerjakan desainer dan meluncurkan produk baru di bawahmereksendiri. pengunkapan gagasan untuk menguatkan strategi muncul dari blok bangunan proposisi nilai sebagai titik permulaan. selain itu, kanvas model bisnis membuat strategi lebih focus dan terukur. inovasi bisnis model diharap mampu meningkatkan keseluruhan kinerja ukm. kata kunci: ukm, model bisnis, inovasi model bisnis, industri kreatif, proposisi nilai 86   journal the winners, vol. 16 no. 2, september 2015: 85-95 introduction creative economy is how people make money from ideas (howkins, 2001). data from kementerian pariwisata dan ekonomi kreatif ri (2014) pointed out that creative economy has absorbed more than 10% labor, has contributed 7% of gross domestic product and 6% of total export. in 2013, it was recorded 5.4 million enterprises engaged in the creative industries are mainly small and medium enterprises (smes). in order to achieve the prosperity and welfare as developed countries, it takes a high economic growth in the next five years. in 2019, the per capita income is expected to reach idr 72,4 million (us $ 6,037), an increase of 160% of income per capita in 2015, which estimated idr 45,2 million (us $ 3,766). to achieve this target, the indonesian economy is expected to grow over 6% per year (kementerian pariwisata dan ekonomi kreatif ri, 2014). this paper is based on case study of several smes in eastern bandung (babakan penghulu village). the four selected smes are expected to be the driver of local economyand estimated to be major icons of babakan penghulu village. their products are kids’ moslem apparel, bed sheets, pouches and bags as well as garment convection services. according to law no. 20: 2008 on micro, small and medium enterprises (smes): "productive efforts belong to individual persons and entities or which meet the criteria for micro-enterprises, has a net worth of idr 50,000,000,(fifty million rupiah) not including land and buildings; or have annual sales of idr 300.000.000,(three hundred million rupiah)." based on the law above, these firms are included in micro, small and medium enterprises (smes) because of turnover per month up to idr 30,000,000, (thirty million rupiah). however, smes lack both managerial and technical skills for their effectiveness (rahman and ramos 2010 in hossain, 2015). some common problems in smes are marketing, production and finance. the study was conducted through a fairly intensive mentoring. one mentoring is in marketing field such as branding, logo and packaging design. in fact, some smes have not had their own brand in sales. some smes want a logo design improvements. another important aspect is production. production is still done manually and lack of manpower. during this time, the number of weekly production, inventory taking, and total sales were never recorded by smes. these become problems because smes cannot calculate a total capacity of production and the balance between sales schemes and production. another major problem is that smes often faced financial problems both venture capital and financial bookkeeping. therefore, the problem formulation is how smes can overcome their lack of managerial and technical skills by business model innovation? this study is aimed to evaluate the business strategy implementation and recommend business model innovations for smes especially in fashion and garment industry. business model describes how a company does business (osterwalder et al, in carvalho and jonker, 2015). previous study found that most business have a diversity of activities in the business – a diversity of business models. these differences can often not be described rigorously by one core business model (lindgren, 2013). there are four important dimensions for smes which are interconnected: business plan, strategic planning business models, and entrepreneurship. an expanded business plan contains a strategic plan which consequently leads to a business model. these can be reflected the outcome of an entrepreneurial process (carvalho and jonker, 2015). an innovative business model can either create a new market or allow a company to create and exploit new opportunities in existing markets. business model innovation can occur in a number of ways (amit and zott, 2012): (1) by adding novel activities, for example, through forward or backward integration; we refer to this form of business model innovation as new activity system “content.” (2) by linking activities in novel ways; we refer to this business model innovation …… (wirania swasty) 87  form of business model innovation as new activity system “structure.” (3) by changing one or more parties that perform any of the activities; we refer to this form of business model innovation as new activity system “governance.” method this study contained several stages in conducting research. derived from the urgency of business model, this study was aimed to develop a business model innovation for smes in bandung especially in fashion and garment industry. the study was conducted in october to november 2014 by mentoring four selected smes in babakan penghulu village–cinambo sub-district, eastern bandung.as stated above, businesses issues explained about creative industries and its competitive advantage to formulate value-creating strategies. therefore, it started by analyzing general environment, including external environment and internal organization as an input. the tools used to analyze them including pest analysis, porter’s five forces, resource based view and value chain analysis. finally, business model canvas analysis was used as a tool and described more detail for smes’ new innovative strategies. as research methods, problem identification was the first step to obtain research objectives. then literature review was conducted by collecting theory and information related with the research from various sources such as text books, journals, reports and previous study as secondary data. this study used qualitative approach based on field observation, mentoring four smes as a case study and focus group discussion with the owners of smes. qualitative approach presented the data analysis that helped mapping the existing business model of smes. finally, the business model innovation was developed as recommendation which involve strategy implementation plan to improve performances of smes. results and discussion pest analysis political, economic, social, and technological (pest) factors that are included in macro environment factors are used to identify trends in external environment, which is challenging and complex. the firms have to adapt to the changes of its environment by changing their cultures, strategies, structures, and systems in order to be competitive. political factor deals with the effects of government policy, includes government stability, taxation policy, and government regulation (henry, 2011). government support for smes aimed to encourage the growth and competitiveness in industry. the sme programs are directed to increase the income and welfare of the stake holders. in this case, government is very powerful in determining regulations such as regulation of micro credit, labor, licensing, and product certification for smes. economy. data 2013 showed that in babakan penghulu village, there were 1,931 male residents and 2,672 female residents. the majority of population is in the productive age range. babakan penghulu village has the very high potential work force. the majority of the residents’ livelihood as laborers and factory workers. based on educationlevel, the majority residents are only elementary or secondary school level. babakan penghulu village has approximately 30% of poor households. poverty is due to the lack of jobs, odd jobs (freelance workers), as well as the low level of education level. poverty is also worsened by the number of uninhabitable houses. babakan penghulu 88   journal the winners, vol. 16 no. 2, september 2015: 85-95 village has a lot of smes range from handicraft (bags from recycled plastic packaging and wallets), sewing (bedspreads, nightgowns, women's clothing), snacks, laundry, and more. social. babakan penghulu village is chosen as the village to be developed its potential resource considering as follow: (1) residents face major problems related to land ownership. many of them rent a house with a very high cost of rent, or to be forced to work on the homeowner with the minimal salary. this problem has not been resolved until now and give a significant impact in economic, educational, and health. (2) babakan penghulu village is a new urban village that undergo expansion in 2007. because of it, this village still struggles with various problems. (3) the village has not received assistance ofjoint business group (kelompok usaha bersama/ kub) from the province. unlike cisaranten kidul village which received kubidr 160 million for 80 people (idr 2 million per person). (4) the residents seems to have community spirit and collective enthusiasm, so they fight together to improve their living standards. this is an important capital in relieving poverty. therefore, the spirit of togetherness and synergy are very important in starting new things such as start a business or improve an existing business. therefore, there will be many challenges and the temptation to give up. the spirit of togetherness and a sense of collective will help them through various challenges and obstacles. (5) there is an authoritative figure who is respected by the citizens in managingthe improvement of living standards, siti khadijah. it is important to keep the direction, vision, and sustainability of the community empowerment program. residents have a figure who is trusted, competent, and dedicated. technology. hitt, ireland, and hoskisson (2011) argued that technological changes affect many parts of societies, through new products, processes, and materials. both large and small firms should continuously scan the external environment to identify potential substitutes for technologies and newly emerging technologies to increase competitive advantage (tsai and wang, 2008; lavie, 2006). a technological change involves the practical implication of scientific in an industrial context. a good technical infrastructure (e.g. internet network, machinery) would lead to better sales and production, resulting in cost and time efficiency. technological factors affecting smes such as the rapidly e-commerce growth and the use of social media. moreover, in its business operations, it needs sophisticated machinery and adequate transportation system. smes should study this technological change to understand its competitive implications. porter’s five forces the model evaluates the five factors that determine industry competition, defined as porter’s five forces. porter (1985) argued that the five forces characterize industry structure and determine all firms’ profitability in the entire industry. thus, it reveals the important differences among industries. moreover, it helps companies find a unique position and how industries evolve. porter’s five forces framework can help organizations to ascertain the attractiveness or profit potential of their industry by analyzing the relative impact of each of the five forces on their industry structure (henry, 2011). the threat of entry will depend on the existence of barriers to entry and reaction of existing competitor (henry, 2011). the threat of new entrants is low. startups with large financial resources can enter the industry. the low brand awareness and low customer loyalty represent low barriers to entry. buyers, according to henry (2011), can affect an industry by forcing down prices, bargaining for higher quality or services, and playing competitors off against each other. the power of buyers has further increased. the switching cost is low. suppliers, according to henry (2011), can exert bargaining power over by raising prices or reducing the quality of purchased goods and services. the power of suppliers are low because there are numerous suppliers to garment industry with various alternatives for manufacturer. moreover, the switching cost is low. business model innovation …… (wirania swasty) 89  a substitute performs the same or a similar function as an industry’s product by a different means (porter, 2008). there are many substitutes for garment that meet similar needs to fashion. buyers have lots of choices and substitute among garment and fashion products easily and the switching cost to the substitute is low. rivalry among existing competitors takes many familiar forms, including price discounting, new product introductions, advertising campaigns, and service improvements (porter, 2008). rivalry among existing competitors is high since many garments and fashion firms offer competitive tariff, after sales service. rivalry has also intensified because fashion industry is now essentially a mature service. resource based view refer to hitt, et al. (2011), internal organization which involves resources, capabilities, and core competencies, are the foundation of competitive advantage that lead to strategic competitiveness. resource proposes that a firm has competitive advantages when it creates a successful strategy based on firm resources that cannot be duplicated by a current or potential competitor (gordon, lee and lucas, 2005). table 1 shows common tangible and intangible resources of smes. table 1 resource-based view types resources t a n g ib le financial resources  funding from personal organizational resources  there is no formal organizational structure physical resources  appearance of physical facilities, such as building & sewing machines, simple equipment. technological resources  minimum internet network in ta n g ib le human resources  family and friends, trusted innovation resources  still imitate reputational resources  there is no brand image capability refers to a corporation’s ability to exploit its resources. a competency is a crossfunctional integration and coordination of capabilities (wheelen and hunger, 2010). there are four criteria of sustainable competitive advantage, as shown in table 2. table 2 four criteria of competitive advantages criteria competencies value capabilities yes the resource or capability is valuable in delivering the firms’ service to their customer rare capabilities no there are many garment manufacturers and fashion designers in bandung in-imitate capabilities no the garment business is common and easy to be imitated. however, the smes has to put forward a satisfactory service to the customers. non-substitable capabilities yes basically, fashion products cannot be substituted. to survive in the market, smes should differentiatetheir services so that business will continue to survive among other competitors. 90   journal the winners, vol. 16 no. 2, september 2015: 85-95 value chain value chain illustrates the product process from raw material to the end user/consumer. create added value without substantial cost is an important notion of a value chain according to hitt, et al. (2011). porter (1985) divides the value chain into primary activities and support activities. the primary activity of the garment and fashion industry includes: (1) inbound logistics: activities include order entry, conception of products, fashion design, material handling, inventory control, and warehousing. (2) operations: activities include the manufacturing, sewing, installing accessories such as buttons, mute/sequins, etc. (3) outbound logistics: activities include finished product handling, warehousing, order processing. (4) marketing and sales: activities include advertising and promoting, choosing the right distribution channels, supporting the salesperson, and distributing finished goods to retailers. (5) service: activities including handling of complaints from buyers, after-sales service, repair bag/wallet, and so on. the supporting activities consist of: (1) procurement/purchases: buy raw materials to make products including the purchase of assets such as machinery, sewing equipment, and buildings. (2) development of technology: the process used to manufacture clothing. the development of this technology can be equipment, basic research and service procedures. (3) human resource management: includes the activities of recruitment, training and payment of salaries to all employees. (4) infrastructure: includes activities such as the legality, financial, general management, and the relationship with local government. through their infrastructure, smes can effectively and consistently strive to identify opportunities from the outside (external opportunities), identify resources and capabilities (capabilities) and support the core competency. however, creating value through the value chain activities sometimes require effective alliances with suppliers and build strong relationships with customers. if a company has a proximity to customersas well as suppliers, it can be said it is "social capital" of the company.at inbound stage, the activities are divided into two. when businesses accept orders from consumers in specific design, then the next step is to conceptualize the design desired by consumers. it is often found in the startup smes. usually they receive a special order with a customized design from buyers. but over time, the smes have to start to offer their output design and make them as "trend maker". of their ideas, finally they conceived product with a unique design that has its own characteristics.the next stage is production, handling of raw materials and finished products to be made by quality supervisorybefore distribute the products to the market. this stage is followed by outbound logistics consisting of packaging and labeling activities. unique packaging both form and material could be the added value to the product. after packing, the next process is marketing and sales. goods distribute to end buyer, or other distribution channels. currently, the online channel is emerging and strongly supports the development of creative economy, especially in the fashion sub-sector. with the promotion via twitter, facebook, blackberry messenger profiles, instagram and so on, lot of smes sell their products through these online channels. other distribution channels is to open own shop or store products in other outlets. and last but not less important is service. after-sales services such as repair and other warranty can add value in a business process. the simplest business model is to provide a good or service that can be sold so that revenues exceed costs and expense (wheelen and hunger, 2010). a business model describes the rationale of how an organization creates, delivers, and captures value (osterwalder and pigneur, 2010). there are many approaches to business model concept. this paper adopt business model from osterwalder and pigneur (2010) to evaluate the business model of smes. this tool provides a comprehensive yet simple map to plan, evaluate and manage its business model and helps to obtain effective alternative business model innovation …… (wirania swasty) 91  ways in doing business. there are nine building blocks of existing business model of smes as case study. firstly, in customer segments: this building block defines the different groups of people or organizations an enterprise aims to reach and serve (osterwalder and pigneur, 2010). for lina moslem wear as fashion business, it has segmented customers while other garment services have mass market at low economy segment. both segments have similar but varying needs and problems. this has implications for the other building blocks of business model, such as the value proposition, customer relationships, distribution channels, and revenue streams. the second building block is value proposition. this building block, according to osterwalder and pigneur (2010), describes the bundle of products and services that create value for a specific customer segment that may be quantitative (e.g. price, speed of service) or qualitative (e.g. design, customer experience). for middle-low economy buyers, value propositions such as inexpensive and fast service are important. offering similar value at a lower price is a common way to satisfy the needs of price-sensitive customer segments (osterwalder and pigneur, 2010). moreover, tailoring (customized) products to the specific needs of individual customers to create value. the third building block is distribution channel. refer to osterwalder and pigneur (2010), this building block describes how a company communicates with and reaches its customer segments to deliver a value proposition. for that, distribution channel often used by sme is word of mouth and their house as showroom or retail store. the fourth bulding block is customer relationship. according to osterwalder and pigneur (2010), this building block describes the types of relationships a company establishes with specific customer segments. customer relationships may be driven by the following motivations: customer acquisition, customer retention, boosting sales (upselling). customer relationship includes how to get new customers or retain existing customers. the nature of engagement with customers is an important factor in determining potential revenue of the business model. there are two kinds of relationship run by; long and short-term relationship. the customer relationships run by smes is co-creation that co-creating value with customers. smes engage customers to assist the design of new products. the fifth building block is revenue stream. this building block represents the cash a company generates from each customer segment (costs must be subtracted from revenues to create earnings). each revenue stream may have different pricing mechanisms, such as fixed list prices, bargaining, auctioning, market dependent, volume dependent, or yield management (osterwalder and pigneur, 2010). there are several ways that smesgenerates revenue streams, such as fixed list prices, bargaining. the revenue derives from selling products or charging sewing services. the sixth building block is key resources. this building block describes the most important assets required to make a business model work refer to osterwalder and pigneur (2010). key resources can be classified into tangible resources and intangible resources. the physical resources used for the key activities are sewing machines and workshop. the intangible resources include human capital and trust. the seventh building block is key activities. refer to osterwalder and pigneur (2010), this building block describes the most important things a company must do to make its business model work. the key activities are producing products, marketing including selling and supply chain management. the eighth building block is key partnerships. this building block describes the network of suppliers and partners that make the business model work. we can distinguish between four different types of partnerships: (1) strategic alliances between non-competitors; (2) coo-petition: strategic partnerships between competitors; (3) joint ventures to develop new businesses; and (4) buyersupplier relationships to assure reliable supplies (osterwalder and pigneur, 2010).partner network for smes in garment and fashion industry consists of fabric suppliers 92   f the cost classified t figure 1. b the new solutions strategy segment segment market, i own bra could re consumi their ow branding proposed importan offering design to t selling o could co other so with the the sale custome finally, the t structure d d as operatio the busines business mo w business m s above. th solution. th ts: smes esp ts with supp it could broa second, new and awarene alize benefit ing the produ wn brand in s g, logo desi d logo desig nt part of th service to m o the market third, new d on internet (w ommunicate cial media – integrated m s and build r relationshi final buildin escribes all c onal liabilitie ss model can odel innovat model was m herefore, it r here are nine pecially in g plier-buyer re ad the target t w value propo ss. to consu ts and advan uct, they are sales and wa ign, and pac gns to sme he value pr make appare at the low pr distribution c web sales) is its value pr –such as twit marketing co brand awar ip: many wa jou ng block is 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industr and pigneu wallet, smes channel shou garment and heir service rry messeng moreover, t many even n by smes 16 no. 2, sep osterwalder model. the nd in-depth in he nine block strategies fo model inno l innovation. andling and s slem wear w ustomers. sm unctions. in moreover a dentification uthor explain author ma ry, design c ur, 2010). t s can offer a uld ease custo d fashion in through its ger profiles, i to introduce nts and exhi to maintain ptember 201 r and pigneu cost structur nterview, as ks of busines rmulated in ovation as a . first, new serving the c which serves mes should b this case, co as long as the , smes have ns the impo ade some al an be a pa therefore, in and deliver t omers to rea dustry, so th official web instagram an their produc bitions. fou n the loyalty 015: 85-95 ur (2010), re can be shown in ss model. business business customer corporate s a niche build their onsumers ey satisfy e not had rtance of lternative articularly nstead of their own ach. since 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adopt v or exhibitions w key partne lies. optimiz nd pigneur, 2 g entreprene reduce risk st structures models focu ng the leanes ng. s model inn (wirania swa rity" service volume and oach might e rage a person customersan ). the comm am: offering comes from volume dep since the in l as invent an as the most nce worker. ties: with the ties are the its new valu d launching a ertical growt s to reach ne erships: the zation and ec 2010). new eurs associa in a compet are more im us on minim st possible c ovation as re figure 2 bu asty) e as in the d transaction encourage sm nal relations nd to facilitat munities, in t design and sales with fi pendent. sixt ntangible res nd innovate y important a human reso e new value tasks perfo e proposition a series of ne th strategy i. w customers key partner conomy of sc partnership w ationor anoth titive industr mportant to mizing costs w cost structu ecommended usiness model e commercia ns for garme mes to build hip. increasi te connection his case, are sewing servi ixed pricing b th, new key sources inclu year by year ssets. the ph ources i.e. exp e proposition ormed in ord n i.e. design ew products o e. forward in s. rship form i cale partnersh with local g her local trad ry regarded smes’ busi wherever po ure, using lo d strategy is m l innovation al banks co ent service. a d personal o ingly, smes ns between e such as rec ice directly t by defining p resources: t ude brand an . smes coul hysical tangi perienced an ns, automatic der to deve n, the most im offers under ntegration by s buyer-supp hips are usua government a de communi as uncertain iness models ssible. this ow price va mapped in f ould be add after that, in online profile scan use com community citation, labo to existing c prices based to meet the nd design, th ld innovate a ible resource nd skilled wo cally its key elop the enti mportant thin the signatur y opening ne plier relation ally formed t and associati ity are crucia nty. ninth, n s. smes cou approach pu alue proposit igure 2 below 93  ressed to ntegrated es. these mmunities members ur union, customers d on static customer hus smes and create es will be orkers are activities ire value ng smes re of their ew outlets nships to to reduce ions such al. smes new cost uld adopt urposes at tions and w. 94   journal the winners, vol. 16 no. 2, september 2015: 85-95 conclusion the creative industries play a significant role in the social and economic development especially in developing countries. realizing the urgency of business model innovation help smes sustain and be competitive. from discussion above, it can be seen that smes need formulating a new value proposition to their customers i.e. brand and design to innovate the business model. smes should clarify their business model by understanding and implementing its strengths in creative industry i.e. garment and fashionsub-sector. considering its business model, this study uses business model canvas tool introduced by osterwalder and pigneur (2010), because of its comprehensive yet simple map. ideation to strengthen strategies derives from areas identified through the value proposition building block as a starting point. moreover, business model canvas makes strategy more focused and measurable. for smes, the key point of the business model innovation is to gain competitive advantage in industry. as stated above, an innovative business model can either create a new market or allow a company to create and exploit new opportunities in existing markets. to formulate strategies, business models evaluation is conducted by assessing existing business model which is expected to develop the foundation for improvements and initiate a business model innovation. this study also limited the scope of business only to garment and fashion industry. so that for future research, study on smes in several creative industry sub-sectors in bandung is interesting to be conducted. references amit, r., zott, c. (2012). creating value through business model innovation. [online] mit sloan management review, 53(3). accessed 2 october 2013 from http://search.proquest.com/. carvalho, j. m. s, jonker, j. (2015). creating a balanced value proposition: exploring the advanced business creation model. journal of applied management and entrepreneurship 20(2), 4964. accessed 17 november 2013 from http://search.proquest.com/. gordon, j.r.m., lee p.m. & lucas h.c.jr. (2005). a resource-based view of competitive advantage at the port of singapore. journal of strategic information systems, 14, 69-86. henry, a.e. (2011). understanding strategic management (2nd ed). oxford: oxford university press. hitt, m. a., ireland, r.d., & hoskisson, r.e. (2011). the management of strategy: concepts & cases (9th ed). south-western cengage learning. hossain, m. (2015). a review of literature on open innovation in small and medium-sized enterprises. journal of global entrepreneurship research 5(1), 1-12. accessed 16 november 2013 from http://search.proquest.com/. howkins, j. (2001). the creative economy: how people make money from ideas. the penguin press. kementerian pariwisata dan ekonomi kreatif ri. (2014). ekonomi kreatif: kekuatan baru indonesia menuju 2025. jakarta: kementerian pariwisata dan ekonomi kreatif ri. lavie, d. (2006). capability reconfiguration: an analysis of incumbent responses to technological change, academy of management review, 31, 153–174 business model innovation …… (wirania swasty) 95  lindgren, p. (2013). business model innovation leadership: how do sme's strategically lead business model innovation? international journal of business and management, 7(14), 5366. accessed 16 november 2013 from http://search.proquest.com/. osterwalder, a., pigneur, y., & tucci, c.l. (2005). clarifying business models: origins, present, and future of the concept. communications of the association for information systems, 16 (1), 1–38 osterwalder, a. & pigneur, y. (2010). business model generation. new jersey: john wiley & sons, inc. porter, m.e. (1985). competitive advantage –creating and sustaining superior performance. new york: free press. porter, m.e. (2008). the five competitive forces that shape strategy. [online] harvard business review january 2008. accessed 9 october 2013 from http://hbr.org/2008/01/the-fivecompetitive-forces-that-shape-strategy/ tsai, k.h., wang, j.c. (2008). external technology acquisition and firm performance: a longitudinal study, journal of business venturing, 23, 91–112. wheelen, t.l., hunger, j d. (2010). strategic management and business policy – achieving sustainability (12th ed). new jersey: pearson. in pr es s *corresponding author p-issn: 1412-1212 e-issn: 2541-2388 189 the winners, 23(2), september 2022, 189-198 doi: 10.21512/tw.v23i2.8184 the social capital in family firms: impacts on family-longevity-goals and performances daniel kurniawan1*; elia ardyan2; istiatin3; luhgianto4 1,2department of business management, school of business and management, ciputra university surabaya jl. citraland cbd boulevard, made, sambikerep, kota sby, jawa timur 60219, indonesia 3faculty of economy, universitas islam batik surakarta, jl. agus salim no. 10, sondakan, surakarta, central java 57147, indonesia 4sekolah tinggi ilmu ekonomi pelita nusantara jl. slamet riyadi no. 40a, gayamsari, semarang, central java 50161, indonesia 1daniel.kurniawan@ciputra.ac.id; 2elia.ardyan@ciputra.ac.id; 3istiatinumi@gmail.com; 4luhgiatno_smg@yahoo.co.id received: 09th february 2022/ revised: 14th april 2022/ accepted: 19th april 2022 how to cite: kurniawan, d., ardyan, e., istiatin., & luhgianto. (2022). the social capital in family firms: impacts on family-longevity-goals and performances. the winners, 23(2), 189-198. https://doi.org/10.21512/tw.v23i2.8184 abstract the research was motivated to examine the impact of family, specifically in social capital on firm performances during the covid-19 pandemic. the research applied a quantitative approach analysed by both descriptive and inferential statistics by obtaining questionnaires from using a likert scale to create a whole picture of the social capital dimensions of 89 family firms and their family longevity goals (flg) as well as their firm performances (fp). the research finds that social capital dimensions have a significant and positive impact on both family longevity goals and firm performance. moreover, it is found that family longevity goals mediate the positive relationship between social capital dimensions and firm performances. it is also revealed that the impact of social capital dimensions is stronger in firms controlled by the second generation. it is suggested that future research include the external side of the social capital to have further understanding on its impact towards the performance of family business. keywords: family firms, social capital, social capital dimensions, family longevity goals, firm performances i. introduction the family business has dominated the world economy and played an important role in developing nations’ economics. according to the family firm institute’s most recent statistics, family businesses account for two-thirds of all businesses worldwide, generate 70-90% of annual global gdp, and create 5080% of jobs in the majority of countries (de massis et al., 2018). osunde (2017) also state that the total economic impact of family businesses on global gdp is over 70%. robertsson (2021) states that the top 500 family businesses produce $7,28 trillion in revenue and recruit 24,1 million people. they make up the world’s third-largest economic contribution by revenue proving the strength of family firms in the global economy. in indonesia, family businesses also have important roles in the whole nation’s economics. according to ng et al. (2021), family businesses account for 75% of the business sector in indonesia. furthermore, the total economic impact of family businesses on indonesian gdp is 25%. some indonesian family firms have already been famous for wealth such as sampoerna, indofood, djarum, and bakrie group. sampoerna is the biggest cigarettes company in indonesia, has been conducting its business activities in indonesia for more than a century (has been passed down in three generations), and has great impact on indonesian economically or socially even during the covid-19 pandemic (afriyadi, 2021; widiarini, 2020). on the other side, covid-19 pandemic has impacted a lot of family business negatively. according to kpmg, a global accounting organization, 69% of family firms were experiencing revenue decrease (“the impact of covid-19”, 2021). another source from banyanglobal survey also states that the covid-19 pandemic had negatively affected 82% of the family firms, and about half of them states that the impact was substantial (hannon, 2020). the covid-19 pandemic has also created serious challenges for companies, making retirement and succession planning even more difficult (“family business model”, 2020). hence, there is a need to conduct research on family business’ in pr es s 190 the winners, vol. 23 no. 2 september 2022, 189-198 sustainability amidst covid-19 pandemic. speaking about its uniqueness, family business has the existence of social capital ideas that differentiates them from non-family firms. social capital is built from strong trust and shared values which can be unique to familial relationships and naturally exist in family businesses. due to its inherent existence, social capital can blur the partition between professional and personal matters thus worsening the family problems during business activities (clarfeld, 2019). based on these facts there is a need to control or manage relationships between families so it will not worsen business activities. the research aims to explore the impact of family members’ relationships on family businesses’ firm performances based on social capital concepts. ahmad et al. (2020) demonstrate a significant influence of family involvement in business on the long-term viability of family firms. löhde, calabrò, and torchia (2020) also state that family relationships and involvement also increase the chance of success in succession plans. based on these results, it can be concluded that family involvement, firm performance, and succession have been the center of family business research. family members have important roles in developing their firm performance due to its ownership and involvement in developing the companies. the statement is in line with social capital ideas. some research supports the impact of social capital on firm performances. schmid and sender (2021) state that organizational social capital has a significant impact on firm performances with higher nepotism. it means that the better the relationship between families will increase the impact of social capital on family performance. a similar result also came from ahmad et al. (2020) who state that family involvement in the business has a positive impact on board processes and strategy which also enhance firm performances and in the end significantly impact its sustainable longevity. the similarity of those researches is family involvement or governance did not impact firm performance directly. some mediating factors like relationship, culture, innovation, and strategy act as intermediaries between family involvement and firm performance. however, mani (2015) states that some of the variables in family involvement can directly impact firm performances. lee and chu (2017) also have stated that when family ownership is combined with active family management and control, it will strengthen the positive effect of entrepreneurial orientation on firm performance. another intermediary factor that mediates the impact of the family effect on firm performance is family longevity goals. soluk et al. (2021) has stated that one of the key determinants of business outcomes is unique goals. pieper et al. (2018) also state that family longevity goals (flg) impacts strategy, family, and organization behaviour. kim & gao (2013) point out that fim (family involvement in management) has no direct effect on performance, but a firm’s family longevity goals positively moderate the relationship between fim and performance. besides the need of more research on family business’ sustainability amid covid-19 pandemic, the differences in the research’s results between the direct and indirect impact of the family member on firm performances also becomes the research gap in the research. by knowing the current research gap, the research aims to analyze whether family member (based on social capital ideas) has a direct or indirect impact on firm performances. the research uses social capital ideas as a foundation for building the concept of family members’ impact due to its uniqueness in the family business. the research also uses family longevity goals (flg) as mediating effect between social capital and firm performances due to its new concepts and its impact on firm performances. the research applies a quantitative approach and the result is analyzed by both descriptive and inferential statistics. according to wilcox (2017), the main goal of descriptive statistics is summarizing data in a manner that helps convey some of its important properties in a relatively simple manner. through descriptive statistics, the results of the research can be summarized without trying to generalize to a larger population of individuals (george & mallery, 2018). based on these facts, the research used descriptive statistics to provide a bigger picture of the sample population such as family firms’ characteristics and its performances especially in comparing the firm performance of the family business based on the generations who lead the firms (1st, 2nd, 3rd … generation). the research also uses inferential statistics to test the impact between variables. generally speaking, inferential techniques are methods for predicting or generalizing a population or things where it is possible to measure not all persons or things (wilcox, 2017). george and mallery (2018) state that the main purpose of inferential statistics is to explore relationships between variables. the main purpose of the research is to explore the impact of family members based on the social capital idea to family longevity goals and its firm performances. in line with this main purpose, inferential statistics is used to analyse the impacts between variables in the research. the main finding of the research is social capital dimensions are beneficially impacted family longevity goals and its firm performances. it indicates that family firms should build their social capital dimensions to develop their unique long-term goals so it can increase the family firm's performance. ii. methods the research does not only present the applied methods but also provides the literature reviews and propose hypothesis. wiliams jr et al. (2018) has stated that family firms have idiosyncratic or unique resources which differ them from the non-family business. those in pr es s 191the social capital in family .... (daniel kurniawan, et al.) idiosyncratic resources include human capital, social capital, financial capital, and physical capital (mani, 2015). clarfeld (2019) state that the idea of social capital is the main key that makes family firms unique compared to other kinds of business. social capital is built from strong trust and shared values which can be unique to familial relationships and naturally exist in family businesses. due to its inherent existence, social capital can blur the partition between professional and personal matters thus worsening the family problems during business activities (clarfeld, 2019). generally, family social capital consists of three dimensions which are structural, relational, and cognitive dimensions (nordin et al., 2020). the structural dimension (sd) refers to the patterns and strength of ties within the members of a group. this dimension represents resources that facilitate the interaction and communication of information. the cognitive dimension represents the family’s shared vision and purpose. the relational dimension includes the resources which are created from personal relationships such as trust, norms and obligations, and identification (mani, 2015). next is about family social capital and family longevity goals. as owning families have idiosyncratic norms and values compared with nonfamily businesses, those differences enhance their goal heterogeneity (casprini et al., 2017). wiliams jr et al. (2018) state the family business goal antecedents are family presence, the role of individual family members, founder influence and leadership, family history and culture, organizational identity, succession intentions, and national culture and ethnicity. those antecedents are in line with social capital ideas regarding idiosyncratic resources in which every family has its uniqueness to its history and individual characteristics. since every member of family firms has their uniqueness, if they have stronger relationships with each other, it will result in higher family longevity goals because the family has succeeded in reconciling the differences and creating long-term common goals. the statement is supported by kim and gao (2013) pointing out that flgs can be created by a sense of shared identity and connections among family members and encourage them to be very loyal and committed to the organizations. in the research, the family members’ concept is defined based on social capital ideas which have three dimensions: structural, relational, and cognitive dimensions. tasavori et al. (2018) also state that social capital contributes to the expansion of shared understandings of firm strategies. in line with the arguments, research result, and social capital ideas, the hypothesis are proposed: h1: higher structural dimension will increase family longevity goals h2: higher relational dimension will increase family longevity goals h3: higher cognitive dimension will increase family longevity goals regarding family social capital and firm performance, mani (2015) states that there is a direct and positive impact of structural and relational dimensions toward family firm performance. tasavori et al. (2018) also add that internal social capital has a significant effect on firm performances and even can bring family firms to a better international firm performance although it is not the only source. the other important source which might impact firm performances is external social capital. sanchez-ruiz et al. (2019) also point out that family social capital can build competitive advantage by leveraging company capabilities thus resulting in better firm performances. from the structural dimension’s perspective, schmid and sender (2021) show that strong interactions between family members tend to significantly enhance family business performance satisfaction. other pieces of research also state that relationship ties or tie strength between families will increase organizational performance in terms of innovation and growth (ng et al., 2019; sanchez-famoso et al., 2019; tasavori et al., 2018). the structural dimension (sd) of family firms which is based on social capital idea refers to the patterns and strength of relationships among group members. from the relational dimension, herrero and hughes (2019) state that there is a positive significant impact of relational dimension toward firm performances. the relational dimension includes the resources created by personal connections such as trust, standards, duties, and identity among family members (mani, 2015). in line with the result of previous studies, hypothesis are proposed: h4: higher structural dimension has a positive and direct effect on family firm performance h5: higher relational dimension has a positive and direct effect on family firm performance although previous research has stated that structural and relational dimensions have a direct and positive impact on firm performances, mani (2015) point out that the cognitive dimension does not have a significant impact on non-financial firm performances while it has a positive significant impact on financial firm performances. on the other side, it is stated that the cognitive dimension has a positive significant impact on firm performances (herrero & mathew hughes, 2019). the cognitive aspect refers to, “resources that give shared meaning, vision, and purpose to family members” (sanchez-ruiz et al., 2019). the dimension is strongly integrated into the history of the family, which may help family members to achieve the objectives of their business and deliver better performance on their joint values, shared beliefs, vision, and purpose (schmid & sender, 2021). thus, social capital’s cognitive dimension is designed to achieve the objectives of the family business and improve its performance. in line with these statements, the hypothesis is formed: h6: higher cognitive dimension has a positive and in pr es s 192 the winners, vol. 23 no. 2 september 2022, 189-198 direct effect on family firm performance family longevity goals influences how family managers behave and may be responsible for the inconsistent impacts of fim on business performance in family firms (kim & gao, 2013). as previously mentioned, family longevity goals are the key determinants of outcomes such as the continuation of family involvement, firm survival and renewal, and financial performance. consistently, the hypothesis is proposed: h7: family longevity goals increased firm performance kim and gao (2013) state that family does not have a direct impact on firm performances. the absence of direct effect is also supported in previous studies (ahmad et al., 2020; lee & chu, 2017). since family longevity goals is the main driver of family businesses’ outcomes, the hypothesis is proposed: h8: family longevity goals mediates the effect of family social capital toward firm performances. the concept of generation is always related to family businesses since family firms should pass the companies to the next generation in maintaining their sustainability. however, every generation has its characteristics in leading the companies due to surrounding differences and changes. differences could be created in the financing strategies used during the financial crisis by family businesses of first-generation and multigeneration. on average, first-generation companies have typically fewer shareholders than multi-generational family enterprises. arrondogarcía et al. (2016) state that family companies of first-generation grew more and significantly increased the debt ratios during the global financial crisis than several family-owned companies. moreover, first generations might have the strongest strategy implementation and performances because first-generation firms benefited the most from strategic planning and succession planning (fang et al., 2018; sreih et al., 2019). in line with these findings, the research compares the results from the research model based on the generations involved in management. to produce a complete comparison result, the research conducts a comparative analysis. with this additional analysis, the research is hoped to provide more comprehensive data for family firms in conducting their business based on the generations involved in companies. based on the findings of the previous results, our hypothesis for comparative analysis is h9: social capital dimensions in first generation family firms will have more impact on family longevity goals and firm performances. based on the theoretical background and hypothesis, the research model is created and shown in figure 1. the research examines the family social capital dimensions (structural, relational, cognitive), longevity goals, and the performances of 99 family firms in east java of indonesia through an online survey to test the proposed hypothesis. among the 99 family firms, 58 of them are controlled by the first generation, while the other 41 are by its second generation. the research uses simple random sampling to take a sample from the population of family firms that are owned by the family of ciputra university surabaya’s students. the research is conducted on april 2021 which is around one year of covid-19 pandemic. figure 1 research model covid-19 pandemic has nationally disrupted the economic situation of indonesia. during the battle against the covid-19 pandemic for more than one year, the economic situation in indonesia becomes increasingly uncertain. librianty (2021) states that covid-19 has an impact on export-import performance, poverty rates, inflation, the rupiah exchange rate, and the performance of the composite stock price index (ihsg). eventually, indonesia’s economic growth is forced into a recession due to minus growth. with these situations, the research examines how family firms perform their business activities and the difference between generations who controlled the business during this period of the pandemic. this is due to statement by arrondo-garcía et al. (2016) who stated that during the particularly deep crisis in spain (2006-2011), unlisted and large spanish firms (6.315) have demonstrated that family firms of the first generation grew and increased their debt ratios considerably throughout several generations in the context of the global financial crisis more than multigenerational family firms. in short, the result shows that first-generation has a better firm performance than multi-generational family firms. to gather the information about these variables from the 89 research subjects, the research uses a questionnaire with a likert scale to create a whole picture on the social capital dimensions of 89 family firms and their family longevity goals (flg) as well as their performances (fp). the scale items which are used in the research are listed (kim & gao, 2013; mani, 2015; tseng & lee, 2012). once the responses are gathered, they will be analyzed by using pls-sem to examine the effect of social capital dimensions toward flg and fp. to know the extent of independent variables’ effect on dependent variables, the research uses path coefficient value and r-square. according to hair et al. (2017) path coefficients are estimated path relationships in in pr es s 193the social capital in family .... (daniel kurniawan, et al.) the structural model (i.e., between the constructs in the model). while r-squared values are the amount of explained variance of endogenous latent variables in the structural model. higher r-squared values leads to better explanation of construct by the latent variables in the structural model via structural model path relationships. moreover, high r-squared values indicate that the values of the construct can be wellpredicted via the pls path model. the accepted value for path coefficients is above 0,3. the value which is in the range of 0,3-0,49 indicates a moderate correlation, while a value above 0,5 indicates a strong correlation. for r-squared, the value of 0,25 indicates weak effect, 0,5 indicates moderate effect, and 0,75 indicates strong effect (hair et al., 2017). the research also tests seven hypothesis using p-values, regarding the impact of included variables. p-values can be used to test the significance of the tested hypothesis. the hypothesis will be significant if the p-values are below 0,05. iii. results and discussions it is considered important to test the validity and reliability of the questionnaire before analyzing the result. in pls-sem, there is a need to do an indicator and composite reliability to assess the internal consistency reliability. to test indicator reliability, the research uses outer loadings, where its value should be higher than 0,70 (hair et al., 2017). the value of cross-loadings in each item is listed in table 2. table 2 shows that all items have cross-loadings values above 0,7; it means that the questionnaire already has indicator reliability. the complete outer model for cross-loadings also can be found in appendix. on the other hand, the research uses cronbach's alpha to test composite reliability. the value of cronbach's alpha should also be above 0,7 (hair et al., 2017). table 2 cross-loadings outer models items cross-loadings value items cross-loadings values sd01 0,943 cd03 0,943 sd02 0,926 cd04 0,938 sd03 0,93 flg01 0,838 sd04 0,987 flg02 0,847 rd01 0,907 flg03 0,846 rd02 0,924 flg04 0,873 rd03 0,922 fp01 0,854 rd04 0,913 fp02 0,801 cd01 0,922 fp03 0,757 cd02 0,911 fp04 0,855 table 3 shows that all the cronbach's alpha values of each variable are above 0,7, which means it has composite reliability. beside the reliability test, it is considered that the validity should be tested. in pls-sem, there is convergent and discriminant validity. convergent validity seeks to measure the positive correlation table 1 scale item variables items structural dimensions (sd) • family members who work in this firm engage in honest communication with one another • family members who work in this firm have no hidden agendas • family members who work in this firm willingly share information • family members who work in this firm take advantage of their family relationships to share information relational dimensions (rd) • family members who work in this firm have confidence in one another • family members who work in this firm show a great deal of integrity with each other • overall, family members who work in this firm trust each other • family members who work in this firm are usually considerate of each other’s feelings cognitive dimensions (cd) • there is a common purpose shared among family members who work in this firm • family members who work in this firm view themselves as partners in charting the firm’s direction • family members who work in this firm share the same vision for the future of this firm family longevity goals (flg) indicate the extent to which your firm supports each of the following goals, with ‘1’ denoting ‘nil/very little’ and ‘5’ denoting ‘very highly’. • family's financial security • family's longevity firm performances (fp) financial firm performance • our sales amount is very high • our profit rate is very high • our revenue is very high • our return on investment is very high in pr es s 194 the winners, vol. 23 no. 2 september 2022, 189-198 between indicators measuring the same construct, while discriminant validity is the process of testing whether a construct is completely different from other constructs when it is measured using an empirical, not theoretical, measure. the research uses the ave value to test convergent validity and the value should be above 0,50. for discriminant validity, the outer loading value must be greater than the cross-loading value (hair et al., 2017). table 3 cronbach's alpha values sd rd cd flg fp 0,937 0,937 0,947 0,873 0,834 table 4 ave value sd rd cd flg fp 0,842 0,84 0,862 0,724 0,669 according to table 4, all the ave values are above 0,5, which means that convergent validity is achieved. discriminant validity is also achieved in this result because all the square roots of ave are higher than its correlation with other constructs. table 5 cross loading and outer loading sd rd cd flg fp sd01 0,943 -0,119 -0,356 0,119 -0,073 sd02 0,926 -0,529 0,226 0,436 0,125 sd03 0,93 -0,245 0,415 -0,584 0,139 sd04 0,987 0,953 -0,298 0,031 -0,203 rd01 0,561 0,907 -0,128 -0,105 0,102 rd02 -0,313 0,924 0,247 -0,21 0,056 rd03 0,284 0,922 -0,141 0,099 -0,187 rd04 -0,526 0,913 0,02 0,217 0,03 cd01 -0,113 -0,043 0,922 0,068 0,151 cd02 -0,403 -0,012 0,911 -0,186 0,14 cd03 0,636 -0,119 0,943 -0,133 -0,095 cd04 -0,137 0,173 0,938 0,248 -0,188 flg01 0,474 -0,409 -0,861 0,838 0,224 flg02 -0,568 0,063 0,971 0,847 -0,147 flg03 0,327 0,31 0,57 0,846 -0,052 flg04 -0,221 0,031 -0,668 0,873 -0,022 fp01 -0,081 0,441 -0,134 -0,232 0,854 fp02 0,443 -0,178 -0,307 0,232 0,801 fp03 0,471 -0,047 -1,42 1,246 0,757 fp04 -0,751 -0,232 1,678 -1,089 0,855 according to table 5, all values of cross loading are higher than outer loadings. it means discriminant validity is achieved in the research. once the reliability and validity are achieved, the next steps are testing the hypothesis and analyzing the impact of the independent variables on dependent variables. the requirement of a hypothesis being accepted is when its p-value is below 0,05. the p-value of every hypothesis which is related to the structural model can be found in table 6. table 6 p-value of each hypothesis hypothesis p-value final decision h1: higher structural dimension will increase family longevity goals. 0,027 hypothesis accepted h2: higher relational dimension will increase family longevity goals 0,036 hypothesis accepted h3: higher cognitive dimension will increase family longevity goals <0,001 hypothesis accepted h4: higher structural dimension has a positive and direct effect on family firm performance <0,001 hypothesis accepted h5: higher relational dimension has a positive and direct effect on family firm performance <0,001 hypothesis accepted h6: higher cognitive dimension has a positive and direct effect on family firm performance <0,001 hypothesis accepted h7: family longevity goals increased firm performance <0,001 hypothesis accepted according to table 6, hypothesis 1-7 are all accepted since the p-values are below 0,05. it means there is a significant effect between all the independent and dependent variables. the strength and the direction (positive or negative) of each effect also can be found by using the path coefficient. if the path coefficient is 0,45, it means that the independent variable has 45% positive effect on the dependent variables. however, if the path coefficient is -0,45, there is 45% negative effect on the dependent variables. in other words, a positive sign means the increase in the independent variable will increase the value of the dependent variable. otherwise, a negative sign means the increase of the independent variable will decrease the value of the dependent variable. according to hair et al. (2017), the effect size can be categorized into three types: 1) weak (0,1 0,29); 2) moderate (0,30-0,49); 3) strong (0,5-1). the path coefficient of each hypothesis can be found in table 7. table 7 shows that every independent variable has a positive effect on the dependent variable. in pr es s 195the social capital in family .... (daniel kurniawan, et al.) the strongest effect is generated by the cognitive dimension (cd) of social capital toward firm longevity goals (flg) which is 0,907 or 90,7%. it means that cd has a strong effect on flg. the weakest effect is generated by structural dimension (sd) toward firm performances which is 0,301 or 30,1%. although it is the weakest, according to hair et al. (2017), it can still be categorized as a moderate effect. table 7 path coefficient hypothesis path coefficient strength h1: higher structural dimension will increase family longevity goals 0,359 moderate h2: higher relational dimension will increase family longevity goals 0,328 moderate h3: higher cognitive dimension will increase family longevity goals 0,907 strong h4: higher structural dimension has a positive and direct effect on family firm performance 0,301 moderate h5: higher relational dimension has a positive and direct effect on family firm performance 0,708 strong h6: higher cognitive dimension has a positive and direct effect on family firm performance 0,547 strong h7: family longevity goals increased firm performance 0,466 moderate among the three social capital dimensions, the cd has the highest path coefficient value (0,907) which made it become the strongest dimension that will affect flg. however, the strongest dimension which affects firm performance is relational dimensions (rd with a path coefficient of 0,708). in fp, rd is the weakest dimension that impacts business performance. with these results, it can be assumed that cd has a strong impact on both flg and fp, while rd has the lowest impact for flg, but the highest for fp. the summary of the path coefficient and p-values of each hypothesis can be found in figure 2. the findings are in line with almost all of the findings from previous research which pointing out that social capital dimensions have a direct and positive effect on firm performances (kim & gao, 2013; mani, 2015). however, one of the findings from mani (2015), about cd-fp relationships, is not the same as the result generated in this research. mani said that cd does not have a significant impact on firm performance. however, in the research, cd even give a strong impact on firm performances. these findings are in line with the social capital theory which stated that cd enhance shared communication and integration of ideas. thus, this integration will increase family firm’s performances as the members working in the family firm have a collective understanding of their firm’s culture that establishes a shared vision and purpose among individuals (schmid & sender, 2021; tasavori et al., 2018). figure 2 path coefficient and p-value of each hypothesis these results are also actually in line with the statement which said that the families’ participation in the firm shall be assumed to ensure stable, trustworthy, durable, and characteristically sociosocial capital relations with external and internal actors. such relationships are based on prominence, parenthood, frequent interactions, and highly intensive communications which lead to shared values and norms, a family environment, and a strong organizational identification (de massis & rondi, 2020). maintaining and improving the business environment through good relationships are very important because covid-19 and its impact might affect the socioemotional wealth of the family members as well as its staff. covid-19 has given family and other firms exogenous shock due to its impact such as a shutdown, massive contact restriction, and creating a shortage in many industries in terms of both supply and demand (soluk et al., 2021). those aftermaths from this pandemic might impact family members’ well-being and affect its business performance. social capital ideas should be the key in this kind of situation due to their impact on human relationships and communication. by improving social capital dimensions in family firms, good communication can be built, resulting in a shared vision and innovation which will improve business performance and save the firms from a crisis. thus, the research also encouraged family firms to improve their social capital dimensions, especially amidst this covid-19 pandemic to improve and maintain flg that will result in better firm performances. in pr es s 196 the winners, vol. 23 no. 2 september 2022, 189-198 on the other hand, hypothesis 8 is about the mediating effect of flg between social capital dimensions and firm performances. to test this hypothesis, the research needs to conduct mediating analysis by using the vaf value. vaf value can be counted by dividing the indirect effect between the independent variable and dependent variables by total effect (indirect effect or total effect). when vaf is 0,86, it means it has 86% mediating effect. the vaf value can also be categorized into three types which is no mediating effect (below 20%), partially mediating effect (between 20%-80%), and fully mediating effect (above 80%). table 8 mediating effect relationships vaf value strength sd-flg-fp 0,55 / 55% moderate rd-flg-fp 0,32 / 32% moderate cd-flg-fp 0,63 / 63% moderate table 8 shows that flg is moderately mediating the relationship between social capital dimensions to firm performance. although the mediating effect is moderate, however, it still gives mediating effect on firm performance. hence, hypothesis 8 is accepted. the possible explanation for this result is that there is a presence of other factors that might increase the effect of social capital on firm performance. ng et al. (2019) state that another factor such as managerial abilities mediates the relationships between the emotional attachment of family members and performance. galadanchi and bakar (2018) also state that many factors are associated with the longevity of firms, but the main important factors are innovative capability, organizational system, resources, organizational culture, and the strategy associated with the longevity of business enterprises around the world. the presence of these other factors is weakening the mediating impact of social capital on firm performance. hypothesis 9 is about the comparison of the model between family firms controlled by first generations and second generations. to examine the hypothesis, the research conducts multiple group analyses, which can generate a comparison between the two groups (first and second-generation) in applying the research models in their activities. according to table 9, generally speaking, the social capital dimension in second generation firms has a stronger impact on their flg and fp which makes hypothesis 9 rejected. the result contradicts the findings from arrondo-garcía et al. (2016) who state that first-generation has better performance than the second generation. the result also contradicts previous research stating that first generations might have the strongest strategy implementation and performances since first-generation firms benefited the most from strategic planning and succession planning (fang et al., 2018; sreih et al., 2019). table 9 comparison analysis between generation variables path coefficient higher effect generation1 st generation 2nd generation sd-flg 0,316 0,069 1st rd-flg 0,408 0,106 1st cd-flg 0,729 0,962 2nd sd-fp 0,202 0,684 2nd rd-fp 0,523 0,608 2nd cd-fp 0,241 0,715 2nd flg-fp 0,568 0,344 1st average 0,434 0,483 2nd iv. conclusions the research contributes to family firms’ studies by exploring the social capital ideas in family firms and how it impacts family longevity goals as well as their performances. the research also contributes to social capital pieces of literature by examining the particular impacts of its dimension in family firms. the research also shows that social capital ideas are valuable assets of a firm and has given particular advantages for family firms to build their business activities because it is unique for every family (based on history or members’ unique background and relationship with one another). the results suggest that family members should build their social capital ideas to develop their unique long-term goals which can increase their firm performances. social capital ideas are very important in developing unique and long-term goals since they generate a shared vision by building communication and trust between family members. in this regard, family firms might have a strong will to sustain their business for a longer time and bring out best effort to increase their firm performance. eventually, the research only focuses on the internal facet of social capital in family businesses. the external side of the social capital can also be used for future investigations to better understand its impact on the performance of family businesses. furthermore, researchers can include other nonfinancial measures such as harmony between families or family satisfaction. acknowledgement we thank all the alumni of ciputra university for sincerely giving their time to fill out all the questionnaires for the development of knowledge in family business management. we also thank the head of the family business center program of ciputra university for providing support especially in giving permission us to distribute all the questionnaires. in pr es s 197the social capital in family .... 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(2017). modern statistics for the social and behavioral sciences: a practical introduction (2nd ed.). crc press: taylor francis group. williams jr., r. i., pieper, t. m., kellermanns, f. w., & astrachan, j. h. (2018). family firm goals and their effects on strategy, family, and organization behavior: a review and research agenda. international journal of management reviews, 20, 63-82. https://doi. org/10.1111/ijmr.12167 microsoft word 04_chandra w_hubungan media.doc journal the winners, vol. 4 no. 1, maret 2003: 26-38 26 hubungan media customer relationship management dengan kepuasan pelanggan pada hotel istana nelayan chandra wibowo widhianto1; virgyne livynia2; diana ramadhany3 abstract facing comptetition in service company, especially hotels, must have the ability to give services in order to satisfy the customer. customer relationship managemen (crm) is one of communication media between company and customer that profitable for both side. this research try to find out how big the connection between customer relationship managemen (crm) with customer satisfaction in istana nelayan hotel. the result is there is significant connection between media with customer satisfaction in istana nelayan hotel. keywords: customer relationship management (crm) abstrak dalam menghadapi persaingan pada perusahaan jasa, khususnya perhotelan, harus mempunyai kemampuan untuk memberikan pelayanan yang terbaik sehingga tercipta kepuasan pelanggan. customer relationship managemen (crm) sebagai suatu media sarana komunikasi antara perusahaan dengan pelanggan yang menguntungkan kedua belah pihak. tujuan dibuatnya penelitian ini untuk mengetahui seberapa besar hubungan penggunaan media crm dengan kepuasan pelanggan pada hotel istana nelayan. hasil penelitian menunjukkan adanya hubungan yang signifikan antara penggunaan media dengan kepuasan pelanggan pada hotel istana nelayan. kata kunci: customer relationship management (crm) 1 staf pengajar fakultas ekonomi, ubinus, jakarta 2,3 sarjana ekonomi, jurusan manajemen, fakultas ekonomi, ubinus, jakarta hubungan media customer management… (chandra wibowo widhianto) 33 pendahuluan sebuah perubahan arah sedang terjadi di perusahaan di seluruh dunia dan penggunaan teknologi informasi menjadi suatu kebutuhan yang sangat penting sehingga sistem informasi menjadi salah satu kunci daya saing dalam suatu perusahaan yang membuat perkembangan dunia teknologi informasi semakin pesat dan juga memberikan kontribusi berupa fasilitas serta kemudahan yang dapat dinikmati oleh semua orang. dalam meningkatkan persaingan perusahaan harus mampu memberikan kepuasan pada pelanggannya, misalnya dengan memberikan produk dengan mutu lebih baik, harga lebih murah, proses produksi yang lebih cepat, dan pelayanannya yang lebih baik. semua pelanggan hanya menginginkan pelayanan yang baik secara cepat. oleh sebab itu, terciptalah customer relationship management (crm) yang menggunakan basis teknologi informasi untuk dapat memuaskan pelanggan. para pemimpin industri yakin bahwa crm sangat penting bagi berlangsungnya perusahaan. tingginya persaingan, globalisasi, dan berkembangnya biaya dari akuisisi pelanggan, dan tingginya pertukaran pelanggan telah menjadi masalah utama di dalam sebuah perusahaan. crm adalah kombinasi antara proses bisnis dan teknologi yang membantu perusahaan memahami pelanggannya dari berbagai macam perspektif. sebagai cara organisasi untuk mencapai kesuksesan adalah dengan lebih fokus pada kebutuhan pelanggan. untuk mempertahankan pelanggan, perusahaan harus merespons dengan cepat dan secara efisien menciptakan saluran pengiriman yang baru, mendapatkan data pelanggan sebanyak–banyaknya, dan mencampurkan semuanya sehingga terciptanya suatu pengalaman yang unik yang dapat memuaskan pelanggan. crm atau customer relationship management merupakan salah satu pelayanan yang ditujukan untuk para pelanggan dalam lingkungan perusahaan yang menjalankan e-bisnis. crm membuat para pelanggan dilayani sebagaimana mestinya dengan membuat kemudahan yang dapat memuaskan pelanggan serta bagaimana membuat pelanggan menjadi setia dalam memakai dan menggunakan produk atau jasa dari perusahaan. crm sebagai cara yang memungkinkan perusahaan melakukan sesuatu yang luar biasa, dengan memberikan manfaat bagi para pelanggan dan perusahaan itu sendiri pada saat yang bersamaan. crm memungkinkan perusahaan untuk mengetahui siapa sebenarnya pelanggannya dan keuntungan yang diberikan oleh pelanggan tersebut. identifikasi masalah berawal dari uraian pada latar belakang tersebut maka penulis mengidentifikasikan masalah yang ada sebagai berikut. 1.  bagaimana tingkat kepuasan pelanggan terhadap media crm dan product, place, price, dan promotion di hotel istana nelayan. 2.  adakah hubungan antara kepuasan pelanggan terhadap media crm dengan kepuasan terhadap product, place, price, dan promotion pada hotel istana nelayan. journal the winners, vol. 4 no. 1, maret 2003: 26-38 28 pembahasan customer relationship management (crm) menurut kalakota (2000:111), customer relationship management (crm) is defined as an integrated sales, marketing, and service strategy that precludes lone showmanship and depends on coordinated actions. crm adalah integrasi dari penjualan, pemasaran, dan strategi pelayanan yang merintangi kemampuan seseorang dalam menjalin hubungan. oleh karena itu, diperlukan dan tergantung akan suatu koordinasi kegiatan. berdasarkan pendapat oetomo (2001:220), customer relationship management (crm) strategy adalah strategi untuk menjadikan konsumen sebagai seorang teman. menurut temporal dan trott (2002:67), ada tiga aturan pokok yang harus diingat untuk membangun dan memperkenalkan program crm. 1. menetapkan tujuan yang jelas. harus memiliki tujuan yang sangat jelas bagi program crm, finansial dan sebaliknya, tetapi khususnya finansial. pastikan bahwa setiap orang memahami apa yang akan dicapai dan mengenalkannya sebelum dimulai. oleh karena itu, pemasaran yang pertama adalah kepada rekan sekerja. 2.  membuat segalanya mudah bagi pelanggan. dalam mendesain program crm, jangan membuat desain tanpa memikirkan kegunaannya dalam praktik. program ini harus dapat dipahami oleh pelanggan dan menjelaskan apa yang akan didapat oleh pelanggan dengan adanya program ini. 3.  bersifat realistis. program crm perlu bersifat realistis. program crm merupakan langkah strategis yang akan memberikan kontribusi signifikan bagi perusahaan dalam jangka panjang. tujuan pola bisnis customer relationship management menurut kalakota (2000:111), tujuan pola bisnis customer relationship management ini sebagai berikut. 1. menggunakan hubungan yang telah ada untuk meningkatkan pendapatan dengan cara merangkaikan semua pandangan dari konsumen untuk memaksimumkan hubungan dengan perusahaan melalui peningkatan penjualan. 2. menggunakan informasi yang terintegrasi untuk memberikan pelayanan terbaik menggunakan informasi pelanggan untuk memberikan pelayanan yang dibutuhkan dan untuk menghemat waktu agar pelanggan tidak frustasi. 3. lebih mengenalkan proses prosedur penjualan yang berulang–ulang dengan perkembangan yang sangat cepat dari saluran kontak konsumen. 4. menciptakan nilai baru dari kesetiaan. hal itu merupakan sesuatu yang berbeda yang menjadi kelebihan dalam berkompetisi, menjadikan perusahaan dikenal oleh calon konsumen, dan konsumen sendiri dalam merespons kebutuhan dan mengakomodasikannya agar mereka menjadi setia. 5. mengimplementasikan strategi solusi bisnis yang lebih proaktif. menggunakan bisnis customer-focused yang bekerja dalam seluruh perusahaan. hubungan media customer management… (chandra wibowo widhianto) 33 media customer relationship management menurut pendapat kalakota (2000:122), setiap perusahaan yang menggunakan crm memiliki layanan pendukung yang disebut dengan contact management, yaitu suatu cara pengumpulan informasi pelanggan secara elektronik yang dapat diakses di dalam suatu organisasi untuk memenuhi kebutuhan penjualan dan pelayanan kepada pelanggan itu sendiri. di dalam contact management ini, terdapat media penghubung pelanggan dengan perusahaan, yang menciptakan komunikasi di antara keduanya dengan keadaan yang saling menguntungkan. media penghubung tersebut antara lain sebagai berikut. 1. website 2. call center 3. faximile 4. contact person fase mengelola daur hidup pelanggan menurut kalakota (2000:113), mengelola daur hidup pelanggan menggunakan tiga fase dari crm sebagai berikut. 1. akuisisi pelanggan baru (acquire). 2. peningkatan keuntungan (enhance). 3. kemampuan menjaga (retain). hotel berbagai macam dan ragam bentuk akomodasi, yang salah satunya adalah hotel yang merupakan salah satu dari jenis akomodasi komersil (commercial of accomodation) yang sangat dikenal oleh masyarakat di samping bentuk akomodasi komersil lainnya. menurut sihite (2000:53), hotel adalah sejenis akomodasi yang menyediakan fasilitas dan pelayanan penginapan, makan, dan minum, serta jasa lainnya untuk umum yang tinggal untuk sementara waktu dan dikelola secara komersial. berdasarkan definisi tersebut maka dimanapun lokasinya, berapapun jumlah kamarnya, bagaimanapun bentuk bangunan dan fasilitasnya, dan apapun motivasi kehadiran tamunya, asal telah memenuhi unsur pokok maka bangunan atau badan usaha tersebut sudah dapat dikatakan sebagai hotel. urutan penyebutan pelayanan yang ada dalam suatu hotel sesuai dengan prioritasnya sebagai berikut penyediaan penginapan (rooms), penyediaan dan pelayanan makanan dan minuman (food and beverages), serta dilengkapi dengan pelayanan jasa lain (other service). pengelolaan hotel (hotel management) menurut sihite (2000:54) adalah suatu ilmu pengetahuan yang membahas bagaimana tata cara pengelolaan suatu hotel. ilmu pengetahuan ini bertitik tolak dari ilmu manajemen umumnya yang meliputi planning, organize, coordinate, dan control yang kemudian dicoba terapkan ke dalam usaha industri hotel. kerangka berpikir customer relationship management merupakan strategi bisnis dalam upaya memberikan pelayanan bagi pelanggan. sebagai suatu strategi bisnis, crm mempunyai kemampuan untuk mengkombinasikan proses bisnis yang mencakup di dalamnya adalah marketing, sales, dan service dengan teknologi bertujuan untuk mengetahui keinginan pelanggan dari berbagai sudut pandang journal the winners, vol. 4 no. 1, maret 2003: 26-38 30 sehingga crm menjadi suatu sistem yang menerjemahkan proses insani yang didukung mesin. crm dalam proses pelaksanaannya memerlukan media agar tercapai tugasnya. media itu sebagai berikut. 1. website 2. faximile 3. call center 4. karyawan (contact person) dengan media tersebut, barulah crm dapat melakukan hal berikut ini. 1. penjualan produk komplemen dan produk yang lebih baik. 2. pemasaran langsung dan pemenuhan permintaan pelanggan atau calon pelanggan. 3. manajemen untuk mempertahankan pelanggan. 4. dukungan dan layanan bagi pelanggan. 5. operasi layanan di lapangan. crm mempunyai implikasi yang penting untuk perkembangan hotel, tumbuhnya profit melalui bantuan teknologi akan termotivasi untuk memberikan kritik dan saran terhadap 4 p (product, price, place, promotion) yang sifatnya membangun bagi perusahaan. kritik membangun ini jelas sangat diperlukan bagi perusahaan yang bergerak dibidang jasa yang tentunya memberikan dan melayani setiap kebutuhan pelanggan agar terpenuhi kepuasannya. untuk berhasil dalam memenuhi kepuasan pelanggan diperlukan suatu sistem dan strategi bisnis yang baik, yaitu crm. dengan memanfaatkan kemampuan crm dalam berkomunikasi dengan pelanggan. anggapan dasar dan perumusan hipotesis anggapan dasar dan perumusan hipotesis penulis adalah adanya pengaruh yang signifikan antara penggunaan media customer relationship management terhadap kepuasan pelanggan pada hotel istana nelayan. dengan variabel penelitian sebagai berikut. 1. variabel bebas: penggunaan media customer relationship management. 2. variabel terikat: kepuasan pelanggan. metode penelitian i. jenis dan metode penelitian metode penelitian yang diterapkan dalam penyusunan penelitian ini adalah metode deskriptif analitis. maksudnya, peneliti memusatkan perhatian pada fenomena yang terjadi kemudian menganalisisnya untuk mengukur hubungan penggunaan media crm dengan kepuasan pelanggan pada hotel istana nelayan. 1. populasi populasi dalam penelitian ini adalah semua pelanggan hotel istana nelayan dalam periode bulan januari sampai april 2003. 2. sampel sampel dalam penelitian ini adalah meliputi sejumlah responden yang merupakan pelanggan aktif dengan frekuensi menginap yang sering dalam periode tertentu. hubungan media customer management… (chandra wibowo widhianto) 33 ii. teknik pengumpulan data 1. kuesioner (angket) kuesioner adalah suatu pengumpulan data dengan memberikan atau menyebarkan daftar pertanyaan atau pernyataan kepada responden dengan harapan memberikan respon atas daftar pertanyaan tersebut. daftar pertanyaan atau pernyataan bersifat tertutup dengan menyediakan alternatif jawaban. 2. wawancara wawancara atau interview adalah kegiatan yang dilakukan peneliti sebagai suatu metode pengumpulan data yang dilakukan melalui komunikasi dan interaksi verbal secara langsung dengan para responden. pelaksanaannya dilakukan secara langsung berhadapan dengan pihak manajemen hotel untuk mendapatkan informasi yang dibutuhkan. 3. kepustakaan kepustakaan, yaitu usaha memperoleh data dan informasi dengan cara membaca buku untuk mendapatkan landasan teori mengenai pemasaran, perhotelan, website, dan lain sebagainya. definisi operasional dan instrumen pengukuran i. definisi operasional 1. crm adalah suatu proses bisnis yang menghubungkan perusahaan dengan pelanggan melalui medianya yang berfokus pada kepuasan pelanggan melalui media contact person, call center, faksimili, dan website sehingga pelanggan dapat menyampaikan keluhan dan saran kepada pihak perusahaan agar dapat memperbaiki kinerja perusahaan. 2. kepuasaan pelanggan adalah kebutuhan dan harapan pelanggan yang apabila terpenuhi maka akan timbul perasaan puas dari pelanggan terhadap produk atau jasa serta pelayanan yang telah diberikan. 3. kepuasan pelanggan dapat tercapai bila sikap umum (puas atau tidak puas) seseorang itu didasarkan pada harapan pemenuhan kebutuhan atas 4 p dan cara mendapatkan informasi (website). tidak adanya perbedaan, antara harapan dan kenyataan yang dirasakan. harapan pelanggan dapat berbentuk sebagai berikut. a. kecocokan produk. b. harga yang bersaing. c. tempat yang stategis. d. promosi yang mudah didapatkan. e. kelengkapan informasi yang dicantumkan. ii. instrumen pengukuran dalam penulisan ini, penulis menggunakan format tipe likert dirancang untuk mengukur sikap (afektif) yang memungkinkan pelanggan menjawab dalam berbagai tingkatan pada setiap butir yang menguraikan jasa atau produk. butir kepuasan merupakan butir yang menjelaskan atau menerangkan (declarative items) yang mencerminkan aspek khusus tentang kebaikan atau journal the winners, vol. 4 no. 1, maret 2003: 26-38 32 kejelekan pelayanan atau produk. maka dari itu, skala jawaban harus mencerminkan apakah butir kepuasan benar–benar menguraikan pelayanan. pelanggan menjawab setiap butir berdasarkan betapa baiknya suatu butir tertentu menggambarkan pelayanan yang dia terima. menurut supranto (2001:91), dari segi pandangan statistik, skala dengan lima tingkatan (dari 1 sampai dengan 5) lebih tinggi keandalannya dari skala dengan dua tingkatan, yaitu ya atau tidak. dengan dua macam kuesioner yang berisi tentang teori yang mendukung tentang kepuasan pelanggan tentang 4p (product, price, place, promotion) dan website, serta kuesioner yang berisi tentang media crm untuk dapat diukur hubungan penggunaan media crm dengan kepuasan pelanggan. kisi–kisi instrumen kuesioner tentang kepuasan pelanggan dengan 4p dan website sebagai indikatornya sebagai berikut. tabel 1 tabel kisi – kisi instrumen pengukuran kepuasan pelanggan butir pertanyaan jumlah variabel indikator sub indikator (+) (-) (+) (-) produk 1. kamar 2. pelayanan 3. hidangan 4. fasilitas 1 2 3 4 21, 23 22 1 1 1 1 2 1 1 price (harga) 1. harga produk 2. diskon 5, 6 7 24 2 1 1 place (tempat) 1. lokasi 2. parkir 3. keamanan 4. kenyamanan 8 9 10 11 26 25 1 1 1 1 1 1 promotion 1. informasi hotel 2. iklan 3. penawaran 12 13 14 27 hubungan media customer management… (chandra wibowo widhianto) 33 1 1 1 1 kepuasan pelanggan website 1. kecepatan akses 2. tampilan 3. informasi hotel 4. petunjuk (navigasi) 5. saran & kritik 6. reservasi online 16 17 18, 15 19 20 30 28 29 1 1 2 1 1 1 1 1 sumber : kuesioner kisi–kisi instrumen pengukur penggunaan media media crm dengan kepuasan pelanggan pada hotel istana nelayan adalah sebagai berikut : 12 tabel 2 tabel kisi – kisi instrumen pengukuran media crm butir pertanyaan jumlah variabel indikator sub indikator (+) (-) (+) (-) contact person 1. senyuman 2. kesopanan 3. pelayanan 1 2 3 14 16 15 1 1 1 1 1 1 call center 1. penggunaan 2. pelayanan 3. pemesanan 4. keluhan 4 5, 6 7 17 20 19 18 1 2 1 1 1 1 1 hubungan media customer management… (chandra wibowo widhianto) 33 fax 1. penggunaan 2. pemesanan 3. tanggapan 8 9 21 22 1 1 1 1 media – media customer relationship management website 1. penggunaan 2. informasi 3. email 4. saran & kritik 10 11 12 13 24 25 23 1 1 1 1 1 1 1 sumber : kuesioner iii. teknik analisis data untuk melihat validitas dan reliabilitas diperlukan analisis butir dan alpha cronbach. selanjutnya, untuk menguji hipotesis hubungan media crm dengan kepuasan pelanggan diperlukan uji korelasi product-moment person dari spearman dan brown. iv. validitas dan reliabilitas instrumen 1. analisis butir untuk menguji validitas setiap butir maka skor yang ada pada butir yang dimaksud dibandingkan antara kepuasan pelanggan tinggi dengan kepuasan pelanggan rendah. korelasikan dengan skor total. skor butir dipandang sebagai nilai x dan skor total dipandang sebagai nilai y dengan diperolehnya indeks validitas setiap butir dapat diketahui dengan pasti butir manakah yang tidak memenuhi syarat ditinjau dari validitasnya. berdasarkan informasi tersebut peneliti dapat mengganti ataupun merevisi butir dimaksud. untuk mengkorelasikan tiap butir dengan skor total, digunakan rumus korelasi product-moment. 2. alpha cronbach rumus alpha digunakan untuk mencari reliabilitas instrumen yang skornya bukan 1 dan 0 yang terdapat pada angket atau soal bentuk uraian. hubungan media customer management… (chandra wibowo widhianto) 33 v. korelasi penggunaan media crm dengan kepuasan pelanggan 1. rumus korelasi uji korelasi memberikan suatu metode yang memungkinkan untuk dapat menarik kesimpulan dalam menghubungkan dua variabel. dengan uji korelasi, dapat diperoleh informasi tentang apakah tingkat hubungan yang terjadi antara variabel bebas dan variabel terikat, yaitu variabel bebas adalah penggunaan crm dan variabel terikat kepuasan pelanggan. 2. korelasi product-moment untuk menguji hipotesis digunakan teknik korelasi. dalam hal ini akan digunakan teknik korelasi product moment. korelasi ini digunakan untuk mengetahui tingginya derajat hubungan antara variabel x dan y. vi. hipotesis statistik ho : tidak ada hubungan antara media crm dengan kepuasan pelanggan ha : ada hubungan antara media crm dengan kepuasan pelanggan hasil dan pembahasan i. analisis sampel berdasarkan data pelanggan pada hotel istana nelayan pada periode januari sampai april 2003, pelanggan berjumlah sebagai berikut. 1. januari 2003 = 2066 pelanggan 2. februari 2003 = 1754 pelanggan 3. maret 2003 = 1872 pelanggan 4. april 2003 = 1533 pelanggan memberi pengguna fasilitas hotel sebanyak 700 orang maka didapat populasi sebanyak 1585 pelanggan. penelitian ini menggunakan kuesioner dengan jumlah responden sebesar 95 orang sebagai sampel. ii. uji hipotesis pengujian hipotesis statistik yang dilakukan dengan maksud untuk mengetahui apakah hipotesis nol yang diajukan ditolak dan menerima hipotesis alternatif. untuk itu dilakukan analisis regresi dan korelasi sederhana. dalam penelitian ini yang ingin diperoleh adalah kekuatan hubungan yang terjadi antara variabel bebas dan variabel respons. hubungan antara media crm dengan kepuasan pelanggan merupakan hipotesis tunggal yang diajukan adalah “terdapat hubungan antara media crm dengan kepuasan pelanggan”. dengan demikian, dalam penelitian ini diduga makin tinggi media crm digunakan maka makin tinggi kepuasan pelanggan, dan sebaliknya makin rendah media crm digunakan maka makin rendah kepuasan pelanggan. journal the winners, vol. 4 no. 1, maret 2003: 26-38 28 analisis korelasi sederhana hubungan antara media crm (x) dengan kepuasan pelanggan (y) menunjukan koefisien korelasi r sebesar 0,925 dengan persamaan regresi y = 23,75 + 0,93x. secara visual, kekuatan hubungan antara media crm dengan kepuasan pelanggan dapat dilihat pada grafik model hubungan antara media crm dengan kepuasan pelanggan. gambar 4.3 grafik model hubungan antara media – media crm dengan kepuasan pelanggan sumber : kuesioner untuk menguji koefisien korelasi dilakukan uji korelasi product moment. harga koefisien korelasi menunjukan besarnya kekuatan hubungan antara media crm dengan kepuasan pelanggan. hasil uji korelasi product moment menunjukan rhitung = 0,925 > rtabel (�= 0,05) = 0,202. dengan demikian dapat dikatakan bahwa ada hubungan antara media crm dengan kepuasan pelanggan yang signifikan hasil analisis korelasi sederhana itu menyimpulkan bahwa terdapat hubungan yang signifikan antara media crm dengan kepuasan pelanggan. penelitian ini berhasil menolak ho yang menyatakan “tidak terdapat hubungan antara media crm dengan kepuasan pelanggan“, dan memberikan informasi yang berharga tinggi rendahnya media crm mempengaruhi tinggi rendahnya kepuasan pelanggan. y = 23,75 + 0,93x y = 23,75 + 0,93x. kepuasan pelanggan 125 118 111 104 97 90 83 63 71 79 87 95 103 111 media crm 16 iii. hubungan media crm dengan kepuasan pelanggan dari analisis data diperoleh koefisien korelasi antara media crm dengan kepuasan pelanggan sebesar 0,925. bentuk persamaan regresi y = 23,75 + 0,93x yang berarti bahwa penambahan satu unit media crm akan meningkatkan kepuasan pelanggan sebesar 0,93. hasil penelitian ini menunjukan bahwa makin tinggi kepuasan terhadap media crm atau makin positif kepuasan terhadap media crm maka akan semakin tinggi kepuasan pelanggan. makin negatif atau rendah kepuasan terhadap media crm maka semakin rendah kepuasan pelanggan. responden yang merasa puas dengan media crm memiliki rasa puas yang sama dengan harapannya terhadap 4p (products, price, place dan promotion). keyakinan itu sangat dibutuhkan oleh perusahaan, mengingat kepuasan pelanggan tersebut merupakan hal yang penting untuk mempertahankan keberadaan hotel istana nelayan yang merupakan suatu perusahaan jasa. hubungan media customer management… (chandra wibowo widhianto) 33 penutup simpulan 1. sebagian besar responden merasa biasa atau netral atas penggunaan media crm (skor rata– rata responden = 86,3 ) dan pada 4p yang terdiri pada produk, tempat, harga, dan promosi (skor rata – rata responden = 103,18). 2. terdapat hubungan antara kepuasan terhadap media crm dengan kepuasan pelanggan (nilai korelasi = 0,925 ). artinya, semakin tinggi responden merasa puas dengan media crm maka semakin tinggi kepuasan pelanggan terhadap product, place, price, dan promotion. sebaliknya, semakin rendah responden merasa puas dengan media crm maka semakin rendah pula ke puasan pelanggan terhadap product, place, price, dan promotion. persamaan liniernya adalah y = 23,75 + 0,93x. 3. berdasarkan hasil pengujian nol (ho) yang menyatakan tidak terdapat hubungan antara media crm dengan kepuasan pelanggan, berhasil ditolak. hipotesis penelitian (ha) yang berarti ada hubungan antara variabel independen, yaitu media crm dan variabel dependen, yaitu kepuasan pelanggan, berhasil diterima. daftar pustaka arikunto, suharsini. 1998. prosedur penelitian: suatu pendekatan praktek. jakarta: rineka cipta. barnes, james g. 2003. secrets of customer relationship management. yogyakarta: penerbit andi. farhoomand, ali dan peter lovelock. 2001. global e-commerce. new jersey: prenticehall, inc. gerson, richard f. 2000. mengukur kepuasan pelanggan, panduan menciptakan pelayanan bermutu. cetakan 2. 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kekuatan relationship management. jakarta: salemba empat. tunggal, amin widjaja. 2000. konsep dasar customer relationship management (crm). jakarta: harvarindo. umar, husein. 2003. metode penelitian untuk skripsi dan tesis bisnis. jakarta: raja grafindo persada. medical economics end …… (john romanach; walter e. block) 43 medical economics end food and drug administration (fda) and their impacts on public health john romanach1; walter e. block2 1joseph a. butt, s. j. college of business, loyola university new orleans, 6363 st. charles avenue, new orleans, la 70118 2harold e. wirth eminent scholar endowed chair and professor of economics, joseph a. butt, s. j. college of business, loyola university new orleans, 6363 st. charles avenue, box 15, miller hall 318, new orleans, la 70118 1jfromana@loyno.edu; 2wblock@loyno.edu abstract the aim of this research was to know what fda was done to get pure food and drug. was it to put all the eggs in one basket and entrust the objective to a monopolistic agency which suffered no financial losses when it errors or would the writer was better off relying on a private, competitive certification industry, the firms of which can earn profits for accurate assessments and losses for erroneous ones? ensuring the quality of pharmaceuticals was concerned, the best and most efficient means toward that end was reliance on free enterprise. the method used was the literature review by applying what the authors knew about the difference between competition and monopoly to an arena where all too seldom was it applied. it finds that the fda cannot eliminate risk; only deny people from taking the calculated risk in the hope of curing disease. legislation such as the compassionate freedom of choice act has been introduced with the intention of empowering patients to make informed decisions and allow them to take drugs not approved by the fda. keywords: medical economics,food and drug administration, pharmaceuticals, free enterprise introduction the food and drug administration first took on its role as a regulator for interstate commerce regarding food and drugs with the passing of the 1906 pure food and drugs act (fda, 2015). this law is passed to prohibit the misbranding and mislabeling of food and drugs sold across state lines. since then, the fda has become increasingly more involved in the regulation of food and drugs in the united states. the u.s. food, drug, and cosmetics act of 1938 granted the power to fda to premarket evaluations for the first time (fda, 2015). the law allows the fda to block drugs from entering the market if it does not pass certain tests. this enormous power entrusts to the fda has had serious negative repercussions, such as bureaucratic incentives to not approve drugs and increasing the time it takes to introduce them to the market. the fda’s banning of helpful products and the delayed process of approving them is responsible for the deaths of thousands of americans each year. the legislation allows terminally ill patients to have access to remedies that are not certified by the fda has been introduced in the house of representatives. the purpose of this section is to explore the shortcomings of the fda, evaluate whether this organization creates any benefit to americans, and offer a libertarian perspective for alternative food regulation (becker, 2002; goodman, 2011; gottlieb, 2010; henninger, 1990; higgs, 1994; hoppe, 1993; kaitin et al., 1987; klein and tabarrok, (n.d.); peltzman, 1973, 1974; 1987a, 1987b, 2005; sardi, 2007; spiro, 2012; steinreich, 2005). mailto:jfromana@loyno.edu mailto:wblock@loyno.edu 44 journal the winners, vol. 18 no. 1, march 2017: 43-48 the writer can explain the incentives of fda bureaucrats by distinguishing between two the types of errors they could commit. a type 1 error is passing a drug that ultimately ends up having negative effects and harms the public (the false positive). the type 2 error is refusing to approve a drug that is safe (the false negative). in either case, the public is worse off. the bureaucrats’ self-interest is more likely to lead them to commit the type 2 error, rather than type 1. by committing the latter, the negative repercussions will be worse than committing the former. for example, if a drug is accepted by the fda that kills people, the public will be much more aware of the direct decision making made by the bureaucrat, and it will likely lose his job. in comparison, by not approving of a helpful drug that could save lives, fewer people will be aware of this failure on their part, and those most affected by the decision will probably never miss it. the fda is more likely not to approve a drug than approving it because it is less risky. friedman (2012) explains, as a bureaucrat, the self-interest lies in taking all kinds of chances of failing to approve a good drug to reduce the chance that will approve of a bad drug. those who approve the fewest number of drugs are likely to stay in power longest. this leads to an fda mostly filled with bureaucrats who commit type 2 errors. the result is the deaths of thousands of americans each year. in the authors’ point of view, it is unwise in the extreme to place any great reliance on a governmental monopoly institution such as the fda to ensure the quality of these goods. it is far better to rely on the competitive institutions of the free enterprise system. in the former case, there is no automatic penalty for errors, as there is in the latter. also, the profit system awards those firms in the private food and drug certification industry for accurate evaluations. thus, they can expand their base of operation, replacing those prone to error. the burden of part ii is to defend the proposition that the private profit and loss institutions of laissez-faire capitalism. the authors’ best guarantee of the quality of medicines that is claimed by the food and drug authority. the government’s attempt to attain this goal, not only has been a dismal failure but that this is a necessary condition. methods the research applied qualitative method with the literature review style. for the references, the writer cited and clarified the cases in the american setting by showing the differences between competition and monopoly concerning fda roles and the administration of food and drug to support public health. results and discussions the drug bristol-myers squibbs’ yervoy (ipilimunab) is an example of the case that is handled by fda. this medication is used to treat melanoma, the deadliest form of skin cancer, which claims 8,700 lives per year according to the national cancer institute. the fda takes a year and a half to approve it. goodman (2011) explains that 46% of the subjects taking the drug were alive one year later, and 20% were alive two years later. in the control group, only 25% survived one year, and 14% two years. the difference between 46% and 25% is 21%. 21% of 8,700 is 1,827 lives. similarly, the difference between 20% and 14% is 6% or 522 of 1827 lives. this shows how a type 2 error made by the fda cost 1,827 of americans to lose one year of their life and 522 people to lose the second year. no one should underestimate how extreme the consequences can be from just a year and a half of postponing the use of a single medicine. a similar example of a type 2 error responsible for the death of thousands of americans is the four-year delay of the approval of pirfenidone, a product used to cure idiopathic pulmonary fibrosis. this lung disease is medical economics end …… (john romanach; walter e. block) 45 responsible for the death of more than 150.000 americans according to dr. henry i. miller, the founding director of the fda’s office of biotechnology (as cited in harris, 2014). this drug treatment has already been approved in europe, japan, canada, and china. it is impossible to calculate all the lives that have been lost to type 2 errors because potentially life-saving drugs will never make it to the market. lives are not only lost due to delays from regulation, but also by the elevated cost. speaking of which, yet another way in which the fda harms the public is by increasing the price of drugs. the fda does this by requiring research and developers to meet increasingly higher and higher standards for approval. as a result, companies must spend more time and money to receive the imprimatur of this regulatory busy body. the kefauver harris amendment of 1962 is an example of this kind of regulation. this enactment comes about as a response to the worldwide thalidomide crisis. this is a medicine that is used to treat morning sickness in pregnant women. the drug, however, leads to birth defects in over 10,000 children in 46 countries (bren, 2001). as a response, the kefauver harris amendment is passed, which required pharmaceutical companies to prove the efficacy of their offering, or the ability to produce a desired or intended result. this new rule has caused the process of approval to become much longer and costlier. before the amendment, the average time from the filing of an investigational new drug application (ind) to approval was seven months. by 1998, it took an average of 7,3 years from the date of filing to the final decision (peltzman, 1973). it is impossible to quantify the amount lives that could have been saved if this regulation did not exist. it does not only require more time on average for drugs to be approved but also costs the industry more money. becker (2002) states that the typical drug undergoes about 30 clinical trials that involve some 3000 patients. now, it must go through more than 60 clinical trials with almost 6.000 patients. studies indicate that the need to conduct these various stages of clinical trials adds almost 40% to the cost of r&d for a new drug. such a dramatic increase in the cost to supply drugs will undoubtedly raise the price paid by consumers. some drugs may take less time and money than others. the point is the fda makes all of them more expensive than they otherwise would be. the fda is regarded by many as an agency that keeps safe because its intentions may be good, but these regulations are the reason why many do not receive helpful drugs in time and cost-efficient manner. it is because the drugs must receive the fda approval to be administered to patients. if the latter is given a choice to take a risky but potentially life-saving drug that is not approved by the fda, would they take it? does the fda make consumers better or worse-off by banning drugs? higgs (1994) answers these questions by asserting that risk is inevitable in a market. he states that just banishing risk, whether by regulation or otherwise, is not a feasible option. this means that no matter how much the regulation a government attempts to impose, the individual will still have to bear some risk. suppose an individual does not know about a risk associated with a product. the consumer may well be better off knowing about the risks than not knowing them. perhaps the individual may have chosen not to consume the product if he/she is aware of the risks. higgs asserts that banning the product is quite different from giving the new information. by simply denying the option to consume, fda has made the patients worse off, because fda has removed the patient's most preferred object of choice from the set of alternatives open to the patients. this distinction has direct implications to fda outlawing drugs. the risk of taking an unapproved drug could still leave a patient better off than not doing so. by enforcing regulations, the fda limits the ability of patients to assume risk in the hope of treating illness. this paternalistic behavior on the part of the fda ultimately renders consumers of drugs worse off by limiting their ability to take on risk. higgs (1994) concludes that nothing in economic theory is correctly understood, supports the imposition of product bans such as those enforced by the fda through its testing requirements. the bans help no consumer; they hurt some consumers. political changes may be underway to help reduce the damage caused by the fda. the point is if the fda is 46 journal the winners, vol. 18 no. 1, march 2017: 43-48 limited to recommend, rather than prohibiting, the harm it causes would be greatly attenuated. even better, of course, would be to end it entirely. the legislation has been proposed to give terminally ill patients the freedom to take the drugs that are not certified by the fda. the compassionate freedom of choice act of 2015 attempts to give terminally ill patients this long-denied precious freedom. the bill states fda shall not implement or enforce any provision of law preventing or restricting, the manufacture, importation, distribution, or sale of an investigational drug or device intended for use by a terminally ill patient in accordance with subsection (b) that describe as criteria for the terminally ill patient. this law is still in its introductory state and has not yet been passed in neither the house of representatives nor the senate. this bill has serious implications for terminally ill patients because it allows patients to choose to take drugs that are not approved by the fda. this type of legislation can help fight the paternalistic behavior of the fda and grant terminally ill patients more freedom in their consumption decision-making. consumers would be better off under a system in which they have the liberty to take whichever drugs they please and had better information about the safety of drugs. all people should enjoy the freedom of choice. although, we readily concede that it is particularly grievous not to all those with only a few weeks to live to throw the dice in one last attempt to save their lives. only a government bureaucracy could impose such a harsh rule on the helpless. such freedoms could be achieved under a libertarian system of third-party food and drug safety agencies. many people may wonder how food and drugs could be regulated without the government. they might also wonder who could be trusted to ensure the safety of food and drugs other than the state apparatus. fortunately for consumers, there are some libertarian alternatives to the fda that already exist. these could be applied to drugs as well if the laws were to change. different private agencies already regulate the food industry in their unique ways. whole foods, for example, have privately developed a system for rating the welfare of farm animals. the 5-step animal welfare rating standards (2016) gives information about the conditions the animal lived in before being butchered and brought to the store. animals with a low rating meet minimal standards, such as cages big enough for animals to walk around. the higher the rating, the better the conditions in which the animals raised. the conditions include no crates, enriched environments, outdoor access, space to roam, physical alterations, and entire life on the same farm (animal welfare standards, 2016). cuts of meat with the highest ratings will come from animals that lived their entire lives on the same farm. whole foods introduced this system as a response to the market, rather than out of legal obligation. shoppers at whole foods are conscious about the source and quality of their meat products. nor can the authors ignore such institutions as yelp, consumers’ reports and good housekeeping seals of approval. other private food rating agencies would also come into being under a libertarian system. the point is there is a general acceptance of the adage that competition brings about a better-quality product at a lower price. this great insight should not be applied in rating the quality of pharmaceutical products. if the acme certification agency makes a type 1 or 2 error, it will lose money and soon go bankrupt, if it keeps up with the error of its ways. this is all to the good, since, its departure would leave more room for more effective market participants. but when the fda acts erroneously, does it lose money? is it in any danger of going bankrupt? the reason the authors have pretty good quality and reasonably low prices for shoes, ships, and sealing wax is this self-same market process. why do not apply it to drugs, where it is needed even the more? private food rating agencies could inspect and rank food based on the criteria consumers demand. if consumers want food that is locally grown and organic, then the private certification firms could respond by including these criteria in their ratings. on the contrary, if consumers do not care about the conditions in which their food produced, they can purchase groceries and drugs that are not organic or grown locally. these private companies would compete against each other. the private companies would incentivize them to respond the consumer preferences to achieve good ratings, to earn profits, and thus stay in business. these agencies would also be encouraged not to lie or deceive because if they medical economics end …… (john romanach; walter e. block) 47 caught their reputations will be ruined and neither food sellers nor food buyers will want the ratings of the deceptive agencies. this same system of private third-party rating agencies can also apply to drug safety. there is a danger they could be bought off by unscrupulous drug companies, and paid to give good ratings. but the identical risk occurs in the so-called public sector. the only difference is that under capitalism, any company that besmirched itself in this way would risk losing all its capital. this vulnerability exists only in a greatly attenuated manner in government bureaus, if at all. a libertarian society would allow for many different private drug safety agencies, rather than depending on a single-government-run agency. good investment advice always includes diversification. this investment would apply in the present context in spades. conclusions the fda is weighing down the american economy; at least a significant part of it. the incentive of fda bureaucrats is to commit type 2 errors, which is to not pass helpful drugs in the fear that they may have some negative side effects. these type 2 errors are responsible for the deaths of thousands of americans each year. by banning risky drugs, the fda does not make patients better off; it simply limits their ability to make their own informed decisions. the fda cannot eliminate risk; only deny people from taking the calculated risk in the hope of curing disease. legislation such as the compassionate freedom of choice act has been introduced with the intention of empowering patients to make informed decisions and allow them to take drugs not approved by the fda. the libertarian system under which many different food and drug rating agencies compete against each other would benefit consumers by providing more information, reducing time and money needed to approve drugs, and allowing consumers to take on risk on their accounts, with professional help from the private sector. references animal welfare standards. (2016). whole foods market. retrieved on may 18th, 2017 from http://www.wholefoodsmarket.com/mission-values/animal-welfare/animal-welfare-basics. becker, g. s. (2002, 16 sept). get the fda out of the way, and drug prices will drop. retrieved april 3rd, 2016 from https://www.bloomberg.com/news/articles/2002-09-15/get-the-fda-out-of-theway-and-drug-prices-will-drop bren, l. (2001). frances oldham kelsey: fda medical reviewer leaves her mark on history. retrieved may 18th, 2016 from https://www.researchgate.net/publication/11897561_frances_oldham_kelsey_fda_medical _reviewer_leaves_her_mark_on_history friedman, m. (2012). common sense capitalism, the food and drug administration and self interest online video clip. retrieved on april 3rd, 2016 from https://www.youtube.com/watch?v=apdi885zdba. goodman, j. c. (2011, 30 march). how many melanoma patients did the fda kill? retrieved from https://www.healthworkscollective.com/how-many-melanoma-patients-did-fda-kill./. gottlieb, s. (2010, 23 dec). the fda is evading the law. retrieved from https://www.wsj.com/articles/sb10001424052748704034804576025981869663212. http://www.wholefoodsmarket.com/mission-values/animal-welfare/animal-welfare-basics https://www.bloomberg.com/news/articles/2002-09-15/get-the-fda-out-of-the-way-and-drug-prices-will-drop https://www.bloomberg.com/news/articles/2002-09-15/get-the-fda-out-of-the-way-and-drug-prices-will-drop https://www.researchgate.net/publication/11897561_frances_oldham_kelsey_fda_medical_reviewer_leaves_her_mark_on_history https://www.researchgate.net/publication/11897561_frances_oldham_kelsey_fda_medical_reviewer_leaves_her_mark_on_history https://www.youtube.com/watch?v=apdi885zdba https://www.healthworkscollective.com/how-many-melanoma-patients-did-fda-kill./ https://www.wsj.com/articles/sb10001424052748704034804576025981869663212 48 journal the winners, vol. 18 no. 1, march 2017: 43-48 harris, j. w. (2014, 4 nov). fda bureaucrats kill 150,000 americans. retrieved april 4th, 2016 from https://www.theadvocates.org/fda-bureaucrats-kill-150000-americans/. henninger, d. (1990, 12 dec). will the fda revert to type? the wall street journal, 12, a16. higgs, r. (1994). banning a risky product cannot improve any consumer's welfare (properly understood), with applications to fda testing requirements. the review of austrian economics, 7(2), 3-20. hoppe, h. h. (1993). a four-step health-care solution. the mises institute monthly, 11(4). retrieved from http://mises.org/freemarket_detail.aspx?control=279. kaitin, k. i., richard, b. w., & lasagna, l. (1987). trends in drug development: the 1985-86 new drug approvals. journal of clinical pharmacology 27, 542-548. klein, d. b. & tabarrok, a. (n.d.). is the fda safe and effective? retrieved from http://www.fdareview.org/ peltzman, s. (1973). an evaluation of consumer protection legislation: the 1962 drug amendments. journal of political economy, 81(5), 1049-1091. http://www.journals.uchicago.edu/doi/abs/10.1086/260107?journalcode=jpe. peltzman, s. (1974). regulation of pharmaceutical innovation: the 1962 amendments. washington, d.c.: american enterprise institute for public policy research. peltzman, s. (1987). regulation and health: the case of mandatory prescriptions and an extension. managerial and decision economics, 8(1), 41-46. retrieved from https://www.researchgate.net/publication/227892108_regulation_and_health_the_case of_mandatory_prescriptions_and_an_extension. peltzman, s. (1987). the health effects of mandatory prescriptions. journal of law and economics, 30(2), 207-38. https://www.researchgate.net/publication/24100715_the_health_effects_of_mandatory_pres criptions. peltzman, s. (2005). regulation and the natural progress of opulence. washington, d.c.: aeibrookings joint center on regulatory studies. sardi, b. (2007, 16 may). the fda has blood on its hands. retrieved from http://www.lewrockwell.com/sardi/sardi72.html. spiro, a. (2012, 10 sept). what do ron paul, northwest biotherapeutics, and novartis have in common? retrieved from https://seekingalpha.com/article/856731-what-do-ron-paulnorthwest-biotherapeutics-and-novartis-have-in-common. steinreich, d. (2005, 2 may). playing god at the fda. retrieved from http://mises.org/daily/1805. u. s. food and drug administration (fda). (2015). history. retrieved from https://www.fda.gov/drugs/informationondrugs/approveddrugs/ucm279174.htm. https://www.theadvocates.org/fda-bureaucrats-kill-150000-americans/ http://mises.org/freemarket_detail.aspx?control=279 http://www.fdareview.org/ http://www.journals.uchicago.edu/doi/abs/10.1086/260107?journalcode=jpe http://www.amazon.com/exec/obidos/asin/0844731285/theindepeende-20 https://www.researchgate.net/publication/227892108_regulation_and_health_the_case%20of_mandatory_prescriptions_and_an_extension https://www.researchgate.net/publication/227892108_regulation_and_health_the_case%20of_mandatory_prescriptions_and_an_extension https://www.researchgate.net/publication/24100715_the_health_effects_of_mandatory_prescriptions https://www.researchgate.net/publication/24100715_the_health_effects_of_mandatory_prescriptions http://www.lewrockwell.com/sardi/sardi72.html https://seekingalpha.com/article/856731-what-do-ron-paul-northwest-biotherapeutics-and-novartis-have-in-common https://seekingalpha.com/article/856731-what-do-ron-paul-northwest-biotherapeutics-and-novartis-have-in-common http://mises.org/daily/1805 segmentation map, consumer preference …… (ina melati et al.) 111 segmentation map, consumer preference, and price determination appropriate for wedding organizer business in jakarta ina melati1; teddy indira budiwan2; raden ajeng aryanti wardaya puspokusumo3 1,2,3 department of international marketing, bina nusantara university jl. k. h. syahdan no. 9, palmerah, jakarta 11480, indonesia 1imelati@binus.edu; 2tbudiwan@binus.edu; 3rpuspokusumo@binus.edu abstract this research was aimed to validate segmentation from previous research, determining consumer preference and pricing perception based on preferences selected by the wedding organizer (wo) consumer in each validated segment to reach consumer satisfaction. this research was a quantitative descriptive research by using probability sampling with 100 total respondents. the used analytical models, were differences in accordance to each problem studied, those were: (1) segmentation was analyzed by cluster analysis and cross tabulation and, (2) consumer preference, as well as pricing perception, were analyzed by cross tabulation. this research produces three segmentations of wedding organizer users and their appropriate product and service preference, including price perception from each of the consumers. in terms of fair price, each segment has their own perception. smart couple prefers standard portfolio in product and office performance, employee quality and service contract in service, priced in 65 mio – 125 mio. uncle scrooge prefer catering, rundown management and makeup & wardrobe in product and employee quality in service, all in the price range of 65 mio – 125 mio. familiar face couple has catering in product preference and consultant allocation in service preference, all in the price range of 65 mio – 125 mio. keywords: behavioral segmentation, demographic segmentation, consumer preference, pricing perception, wedding organizer introduction wedding for most people is a special moment. often, they become irrational when it comes to preparing for a wedding, such as willing to spend much money to spend on the wedding. the wedding industry has become an opportunity to create a wedding planner business or better currently known as a wedding organizer. wedding organizer business is a potential business according to mansur (2016). he has stated that the future bride and groom want to make their wedding as an unforgettable moment. moreover, according to melati (2015), the article has said that the wedding organizer becomes a solution for prospective couples in preparing for her marriage. sitorus (2016) has said that currently, the wedding organizer industry has an excellent opportunity to develop and many businesses men want to try their luck in conducting this business. entrepreneurs see that marriage can be taken as a business area that can be developed into a lucrative and promising business field. as for this reason, many serious business players have decided to plunge into wedding organizer business. cravens and piercy (2013) have said segmentation is an important marketing tool in developing a marketing strategy. through segmentation, a company will be able to determine the company’s target, positioning, and competitive advantage. in this case, the wedding organizer industry in indonesia has not had any clear segmentation, yet. as a service provider for high involvement product category, every customer will demand the service in accordance with what they need. mailto:imelati@binus.edu mailto:tbudiwan@binus.edu 112 journal the winners, vol. 19 no. 2, september 2018: 111-117 meanwhile, consumers have different characteristics, which will make some difference perception of the service they want (myers, 1996). when an industry does not have a clear customer segmentation, they will not have clear guidance about what kind of service expected by consumers with different characteristics (alhassan & sakara, 2014). according to etzel, bruce, and stanton (2001), the central focus of the concept of market segmentation is based on the issue of identifying and clustering heterogeneous consumers into a group of one or more meaningful, viable, and accessible homogeneous consumers. middleton and clarke (2008) have stated that the more an organization knows about its customers, including their prospective, needs, and desires, the better marketing strategy that will be designed and implemented, resulted in the better marketing efforts to stimulate their consumer purchasing decisions. srihadi et al. (2016) also argue that market segmentation aims to meet the needs of subgroups, protect the firm’s offerings from the competition on price, and improve the customer loyalty and company returns. according to tjiptono and chandra (2005), consumer pricing factor can be one of the things taken into consideration in purchasing the product. in deciding the purchase of a product, the majority of consumers are influenced by price factors in addition to other factors that will also influence their decision to make purchases such as brand image, store location, service, value, product features, and product quality. value-based segmentation has its origin in customer segmentation, which has been widely used in the marketing area because it plays an important role in developing effective marketing strategies (cermak, file, & prince, 1994). in terms of segmentation, some factors serve as the foundation, one of which is based on what is considered valuable by a consumer who is referred to as value-based segmentation. value-based segmentation is a method used to divide customers into subgroups based on specific values that customers seek in the products/services (kotler & amstrong, 2012). value-based segmentation aids in the planning of marketing strategies by making it easier to address the needs of particular value segments, finding a niche market that allows a new company or new product to target less competitive market areas, and making more efficient and effective use of marketing resources by focusing on segments (kotler, bowen & makens, 2005). this statement is also clearly supported by musyoka et al. (2007). therefore, if value-based segmentation is not handled correctly, marketing efforts may be less effective and less profitable. in every process of marketing strategy development including the decision-making in it, customer value plays a very important role. this statement is also supported suki (2013) who says that customer value is the main foundation in a marketing process, he also refers to perceived as a consumer’s overall assessment of a product or service based on the perception of what is received (benefits) and what is given (costs incurred). according to sweeney and soutar (2001), they have identified four distinct consumer value dimensions (social, emotional, quality/performance, and price/value for money) that significantly drive purchase attitude and behavior. in addition, besides the four dimensions, product features are also the value for a consumer. product features are related to the attributes of a product that helps to meet the satisfaction level of consumers’ needs and wants through owning the product, use, and utilization of the product (kotler & amstrong, 2012). in the aspect of product price, which is the amount of money expected or given in payment for a product, according to swani and yoo (2010), if it is associated with a featured product and willingness to pay from the consumer side, it can be said that the consumer will have the desire to pay some money to buy a product or service, when they feel the benefits of using the product, and also feel satisfied with the product (suki, 2013). furthermore, they support the expectation that if the consumers perceive a product to be valuable, they will be more willing to buy the product at a premium price. so, to determine the target for the wedding organizer market, setting the price in accordance with the wishes of customers is also an important thing to be done by the company. because wedding organizer is a product with high involvement category, where consumers will spend segmentation map, consumer preference …… (ina melati et al.) 113 a great sacrifice to get it, so they will also expect products/service in accordance with the sacrifices they have to spend. consumer preferences for products and services vary by segmentation; consumer analysis needs to be performed as a foundation in the determination of segmentation strategy so that real consumers can be served more in-depth and focus service, which will impact to the creation of optimal satisfaction. so it can be concluded that each of the market segmentation of wedding organizer must have its own perception about the price that they willingly spend on its service. each segment also has its own preferences related to the products or services of a wedding organizer. if the match between segmentation with product and service preferences and prices can be fulfilled, then the customer satisfaction of a wedding organizer can be reached maximally. perceived values are important criteria that are employed by a person in making preference judgment and guide the consumers’ choice (butler et al., 2016), especially because the wedding organizer is a high involvement product category. the absence of segmentation, especially customer segmentation in the wedding organizer industry in indonesia, causes an unclear picture of its users. it has been known clearly that wedding organizer users are individuals with different characteristics. in terms of wedding packages, wedding organizer in indonesia tends to tailor-make them based on each customer’s own perception and judgment on the needs that may arise in the process of marriage. this is the research objective of this research to describe the consumer segmentation based on product and service preference as well as the price for the respected package. from this research, the companies and consumers will get the benefits, namely: (1) for owners of wedding organizer will be able to target consumers exactly, knowing the characteristics of each segmentation so that wedding organizer can provide the right service to each segmentation. (2) for consumers, they will get an insight about how much the price is reasonable for services wedding organizer, and what products and services they will get with the price they pay it. thus, the asymmetric information that occurs between the owner of the wedding organizer and the consumer is no longer happening, and the business process can run better. methods this research is a quantitative descriptive research. with the number of unknown population, sample size calculation is done with con. because the number of population is not known with certainty, therefore the number of samples is calculated using the sampling technique with the unknown population (widiyanto, 2008) with determination α = 5%, with the following results: n = z2/ (4. µ 2) n = 1,96 / (4.0,052) n = 196 ≈ 200 respondents whereas : n = sample size z = sample confidence level required in the research, at α = 5% (the degree of confidence determined 95%) then z = 1,96 μ = sampling error, tolerable error rate (determined 5%) cluster analysis is used to form behavioral segmentation; meanwhile, the cross-tabulation analysis is used to perform demographic segmentation analysis and to look for suitability between segmentation that has been formed with consumer preference to expected products and services as well as the perception of price according to the perception of the respondent. table 1 shows the design of this research. 114 journal the winners, vol. 19 no. 2, september 2018: 111-117 table 1 research design research objective research method type of research type of data sampling technique unit analysis time horizon data analysis rq1: determine segmentation case study & survey descriptive quantitative simple random sampling individuals in the marital age in jakarta cross sectional cluster analysis & cross tabulation rq2: determine consumer preferences towards products & services case study & survey descriptive quantitative simple random sampling individuals in the marital age in jakarta cross sectional factor analysis & cross tablulation rq3: determine price perception case study & survey descriptive quantitative simple random sampling individuals in the marital age in jakarta cross sectional cross tabulation results and discussions cluster analysis is used to form behavioral segmentation; meanwhile, the cross-tabulation analysis is used to perform demographic segmentation analysis and to look for suitability between segmentation that has been formed with consumer preference to expected products and services as well as the perception of price according to the perception of the respondent. table 2 shows the distance cluster. table 2 distance cluster distances between final cluster centers cluster 1 2 3 1 3,147 3,562 2 3,147 6,109 3 3,562 6,109 table 3 shows the characteristics of each cluster. based on the numbers on each cluster. table 3 shows that suiting cluster 1 weddings, in general, are quite high. in addition, they also have some description of their related wedding. because they have some ideas, then it is natural when they need the service is higher than the wedding organizer. they want a high consistency of the contract from the wedding organizer, but they also include customers who are also very consistent against the agreed contract. regarding the addition of the price that sometimes is added by the wedding organizer, it is not a problem as long as it is so meaningful to this segment. this segment has not used the services of a wedding organizer before. however, this segment is very trust with suggestions from their families or relatives on choosing wedding organizer. the most important thing on this segment is their family will easily recommend a wedding organizer that has been used by other people. in the subject of price, segment 1 has a lack of understanding of the price range of a wedding organizer. however, in essence, they learn the price among wedding organizer whom they know. in addition, segment 1 will be quite willing to use a prominent wedding organizer after they know the price offered by them. according to price offered by majority of wedding organizer it does not correspond to their expectations. although like that, the quality of a wedding organizer in blitar is considered to be good. segmentation map, consumer preference …… (ina melati et al.) 115 table 3 final cluster centers final cluster centers cluster 1 2 3 knowledge 3,10 2,36 3,76 level_imagination 3,01 2,49 3,60 reference 3,02 2,35 3,66 service 3,27 2,26 3,58 intensity_meeting 3,26 2,38 3,65 corporate_assistancce 3,20 2,28 3,60 wo_contract_consistency 3,55 2,62 3,76 client_contract_consistency 2,21 2,23 3,02 budget_sensitivity 2,57 2,16 3,68 loyal_customer 1,45 1,53 3,25 advocacy 3,20 2,41 3,84 customer_reference_experience 3,29 2,53 3,79 price_product 2,30 1,78 3,72 price_diversity 3,16 2,51 3,66 intention 2,93 2,25 3,75 suitability 2,79 2,26 3,65 quality_perception 3,04 2,32 3,69 the next analysis concerns with segment 2. they are people who do not know about the details of a wedding. in fact, they still do not have any description about marriage that might be done. it also occurs on other indicators. they do not require the intensity of the meeting with the wedding organizer or wedding organizer personnel assistance in person. in terms of the deal, this segment also has less attention to it. they are also not included customers who want to recommend or to hear the recommendations of others. related to price issue they do not find out anything to bargained prices right a wedding organizer. moreover, for the other indicators, they do not even have a need to use the wedding organizer after they know the price. the latter is the segmentation of segment 3, it based on the results obtained by the cluster, the three digits segmentation is most high on every charge indicators. they are located on this segment knowing the whole detail of a wedding. up to marriage, however, they have had an idea. this segment takes the high-intensity meeting with wedding party organizer to explores the details of the wedding that customers want. the assistance of personnel from private wedding organizer is needed to take them to facilitate coordination. they argue that the contract with the wedding organizer cannot be changed haphazardly from either party. however, they are quite fickle clients because they have a tendency to change the contract agreement. in addition to the contract, this segment is so sensitive to changes or additions which might be given the price of the wedding organizer. they are the segments that are familiar with the wedding organizer, so they definitely want to recommend or recommended by family or their close relatives. not only is the concept of their marriage, to the question of the price of wedding organizers yet not familiar to them. they have a wide variety of reference price wedding organizer, and they tend to compare before making a decision of purchase of services or products that they think have a price matching from the wedding organizer. this segment of the opinion, in general, the wedding organizer in blitar has a good quality. the behavior is also an important thing in this segment that they take the decision after finding out the price offered by a wedding organizer. 116 journal the winners, vol. 19 no. 2, september 2018: 111-117 conclusions the products and services preference of each wedding organizer consumer segmentations in jakarta. it also contains some good insights from each wedding organizer consumer segmentation, especially about the most suitable products and services for each segmentation, so that a wedding organizer will be able to give the best products and services for segmentation they choose, this is, of course, will result from customer satisfaction and possibly loyalty. first, smart couple segmentation characteristics are they really understand the details of the whole wedding; they even have their own imagination of about the wedding. no wonder they have so many ideas about marriage because they have many references to knowledge about marriage. because of it, they need help from personnel to plan their wedding. consumers in this segment also need the wedding organizer to be willing to assist them for 24 hours. wedding organizers need to know that this consumer is sensitive with cost and contract changes. when wedding organizers can give them satisfaction to this segment, they will easily be loyal and even recommend the service to people close to them. this segmentation is similar to the segmentation in previous research, which found the segmentation of ‘smart couple’. this segmentation is a combination of segmentation ‘wedding dream couple, wishy-washy couple, and familiar faces couple’. product and service preferences in segmentation are the standard portfolio, office performance, employee quality, and service contract with the perception that the most reasonable price of wedding organizer services for them is between rp65.000.000-rp125.000.000. second, uncle scrooge segmentation which has a similar characteristic with smart couple segmentation, but they are not easy to be loyal. this segment is also sensitive to the price. therefore, they have product and service preferences in the form of catering, rundown management, makeup & wardrobe, and employee quality, with reasonable price perceptions for this segmentation similar to the price perception of smart couples segmentation. third, familiar faces couple segmentation is the most unique segmentation, this segmentation knows about the wedding details, but they are not complicated consumers. this is because of the family and the most often used wedding organizer in their marriage. especially on contractual and budgetary issues, it does not really matter for them. their preference in terms of products and services ranges from catering and allocation consultants, with the perception that the price is the same as the previous two segmentations. 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(2008). pointers: metodologi penelitian. semarang: bp universitas diponegoro. http://www.neraca.co.id/article/63399/bisnis-wedding-organizer-sangat-prospektif http://sbm.binus.ac.id/2015/05/27/apa-saja-yang-menjadi-pertimbangan-penting-bagi-calon-pasangan-pengantin-dalam-memilih-sebuah-wedding-organizer http://sbm.binus.ac.id/2015/05/27/apa-saja-yang-menjadi-pertimbangan-penting-bagi-calon-pasangan-pengantin-dalam-memilih-sebuah-wedding-organizer http://entrepreneur.bisnis.com/read/20160129/263/514402/peluang-untung-dari-bisnis-wedding-organizer http://entrepreneur.bisnis.com/read/20160129/263/514402/peluang-untung-dari-bisnis-wedding-organizer https://doi.org/10.1108/cwis-03-2013-0013 economic, business, management, and information system journal volume 6, nomor 2, september 2005 issn: 1412 1212 pelindung prof. dr. gerardus polla, m.app.sc. redaktur utama parulian sihotang, ak., m.acc., ph.d. dewan redaksi antonius herusetya s.e., m.m., ak. misbahul munir, ak., mba ir. harjanto prabowo, m.m. mitra bestari dr. hekinus manao, m.acc., c.g.f.m. (universitas indonesia) dr. sudarwan, m.b.a., q.i.a. (universitas trisakti) dr. ir. roy sembel, m.b.a. (program pascasarjana universitas bina nusantara) edi timbul hardiyanto, s.e., ak., m.sc., m.b.a., b.a.p (institut pendidikan internal auditor indonesia) dr. suroso isnandar, m.sc. (university of abertay, united kingdom) marien van den boom, ph.d. (inholland university, the netherlands) editor dra. endang ernawati, m.lib. titik rahayu s., s.s. hernawati s., s.s sekretariat dr. s.liawatimena holil alamat sekretariat subcenter publikasi ilmiah bidang ekonomi, center for research and publication, universitas bina nusantara jl. kebon jeruk raya no. 27, kemanggisan, jakarta barat 11530 telp. (021) 5345830, 5350660 ext. 1706 fax. (021) 5300244 e-mail: heryhm@binus.ac.id issn 1412-1212 subcenter publikasi ilmiah bidang ekonomi universitas bina nusantara economic, business, management, and information system journal volume 6, nomor 2, september 2005 issn: 1412 1212 daftar isi kata pengantar................................................................................................................... v siswono; juni liem; arieany prasetyo analisis dan perancangan sistem e-crm pada pt paramitra media perkasa (e-crm system analysis and design in pt paramitra media perkasa)................................ 95-104 januar heryanto kepemimpinan: suatu tinjauan manajemen sumber daya manusia (leadership: a relief human resource management review)............................................. 105113 ferry jie; kevin parton; rod cox developing a suitable methodology for integrated supply chain analysis in the australian beef industries: a research proposal............................................................. 114-122 noerlina; idris gautama s. peran bank jangkar dalam arsitektur perbankan indonesia (the role of anchor bank in indonesian bank architecture)................................................ 123133 m. takdir mulyadi kajian terhadap tingkat kinerja ekspor indonesia dalam rangka meningkatkan kesejahteraan masyarakat: studi kasus ekspor udang beku indonesia (indonesian export performance in developing society’s welfare: a case study on the indonesian frozen shrimp export)......................................................... 134154 anggara hayun a perencanaan dan pengendalian proyek dengan metode pert cpm: studi kasus fly over ahmad yani, karawang (planning and controlling project with pert-cpm method a case study on the fly over ahmad yani, karawang)......................................................... 155174 c.t. adhikara siapa konsumen kita?: analisis perubahan konsumen di era “ekonomi baru” (who is our consumer?: an analysis of consumer changes the challenges of student …… (william vincent setiawan, et al.) 61 the challenges of student in indonesia after college graduates with career choice start: evidence from ten private universities in jakarta william vincent setiawan1; andi marlin fattah2; angga puspitaningrum3 1,2,3accounting department, binus graduate program master of accounting, bina nusantara university jl. kebon jeruk raya no. 27, kebon jeruk, jakarta 11530, indonesia 1william.setiawan@binus.edu; 2marlin.fattah@gmail.com; 3anggapuspita16@gmail.com abstract this research examined the problem of graduates’ and students’ who began entering the workforce in which they have creative potential during college and could be combined university studies with activities in the world of work. a qualitative approach was used in terms of testing how students get a job in the labor market. data analysis method used semi-structured interviews to 50 graduates in 10 private universities in jakarta. this research focused on gender aspects that challenge graduates. this research finds that student while working is more dominant among women than men, where many companies in indonesia are more looking for female workers. the labor market must be balanced with the number of graduates in indonesia so that human resources can be used to the fullest; there is no unemployment and improve poverty rates in the country. most male and female graduates have worked after graduating and getting jobs according to their field of expertise. there are students who pursue their master’s programs to support their careers and as employees in indonesian companies. keywords: student job challenge, graduated students, career choice introduction in the millennial world, products and labor markets are growing rapidly. only a few businesses or people can keep up with today's world competition. the young people have creative ideas that lead to a competitive advantage for themselves and their impact on the company or society. there are young people who continue their business from their parents or who are looking for work in companies that need talent that is obtained when studying at a university. there are some students who face challenges in the form of jobs that do not match their educational background, gender, or age. many considerations from the company are obtained from the objective and subjective side. the best college graduates do not necessarily guarantee that graduates will find jobs easily, on the other hand, where the recruitment system from the company sees other aspects of the psychological test, the results of selection with other users and evaluations. the requirements that are quite strict by the company are made so as not to spend time and money to bring a young specialist directly into the company that does not know yet the flow of activities that he/she must do. today’s companies are more stringent in finding or hiring employees who are suitable in their fields because managers do not want to hire employees only with high gpa values, but talents possessed outside of academics. in addition, the career of millennial graduates in this modern era is more hopeful of opening their own business than working in a company. most graduates only expect high salaries compared to the ability to deal with problems that occur directly in the labor market and challenges that students and graduates cannot solve. universities must be able to improve the ability and competitiveness of each student so that they have stock in the workforce and the technological targets achieved when entering the labor market. it is suggested that effective human resources can be seen mailto:william.setiawan@binus.edu mailto:marlin.fattah@gmail.com mailto:anggapuspita16@gmail.com 62 journal the winners, vol. 20 no. 2, september 2019: 61-70 where students and graduates have a steady professional career in their field and can face battles with increasingly talented talents and also provide significant added value for students and graduates. one of the problems faced the by newly indonesian graduate students is sometimes they are lazy looking for work because they just graduated from school. they still want to relax and enjoy their free time. students fill their time with some activities they like, which they have not had time to pursue while studying, such as traveling to other countries, meeting new people, and taking a language course they like. interaction and meeting new people will help students get to know the outside culture and can foster an appreciative and tolerant attitude within themselves. the gap in this research is that new indonesian postgraduate students need to improve their abilities and learn new things in higher education so they can compete in the labor market. the purpose of this research is to see how many indonesian students have been accepted to work in the company after graduating from college, and how the views of students start their professional careers with their competitive advantages. according to some results of the research, the researchers try to conclude on the methods used by graduates in finding jobs in fields that they have taken in college because they have some relevance in the midst of labor market complexity (vinogradova et al.). in addition to continental europe, company management often refuses to hire new graduates because it is considered an obstacle in the information. they had an unpleasant experience in the past when management hired newly graduated people to work with them, as well as having a source of disbelief in their business human power of new graduates (hart & barratt, 2009). however, on the positive side, it can be seen that in indonesia startup companies prefer employing new students and graduates in their companies because they have more creative ideas and are more open-minded in everything, are fast adapted and flexible in doing work. according to research at the higher education statistics agency, in recent years, almost 70% of graduates have found employment less than six months after graduation (hesa, 2015). in addition, graduates and students’ studies and universities will have an impact on their future professions, and that choice will affect in getting jobs in the labor market according to their chosen field of study. for example companies in moscow, samara, st. petersburg sees that almost half of the graduates (52%) do not work in accordance with their majors on the grounds that the wages generated are quite low (29%), then from weak demand for the field of graduate experts (15%), small for the attractiveness of the specialist alone (4%) (samsonova, 2015). today’s economy in indonesia is increasingly difficult to employ graduates in the labor market. management wants new young graduates to be employed to be able to make logical decisions, contribute initiatives, and innovative ideas that can be applied in their company. men and women may have different values and expectations in the career planning stage of their lives, given gender-specific roles. gender disparities have been observed in primary choices in tertiary institutions and employment choices (perna, 2004; zhang, 2008). first, women make an educational decision and work based on cost-effective calculations that are aimed at their goals (diekman et al., 2010; rhoton, 2011; xu, 2015). second, women’s education and career decision making are strongly influenced by social and structural factors (rhoton, 2011; rosser & taylor, 2009). on this side, it can be seen that educational attainment seems to have a stronger influence on female graduates related to job search regardless of social factors when compared to male graduates. there are students that at the beginning of entering college follow their friends in taking the field of interest or those who only follow the choices that are in great demand or areas that are much in demand in the labor market. the students who do not choose jobs according to their talents or areas they will be seen when they start their careers in the future. they will get difficulty in the labor market due to a lack of relevant experience and nonexistent talent, they only graduate from private universities. many graduates` works, they are not in accordance with their educational background so that the efficiency of new graduates is hampered by the development of talent. the university must be a systematic link in this process, equipping students with talents that can be used in the labor market. universities are forced not only to be strong in leadership in the existing research, academic, and educational sectors but they must be equipped with integrated infrastructure and technology to enable an increase in the percentage of the challenges of student …… (william vincent setiawan, et al.) 63 students employed in their main fields (bakhtina et al., 2015; vinogradova et al., 2014). professional training in indonesia needs to be improved in view of the increase in student graduates employed. students and graduates must be able to understand the basics of time management. managers, in terms of responding to young human resources in the company, have experienced improvements, both experienced specialists and young people who have just entered the labor market. they are expected to have talent or creativity in terms of starting new projects and producing innovative ideas. students and graduates to be able to work as part of a team, able to communicate efficiently both in the team and fellow colleagues, are highly valued. good communication has been considered as a verbal interaction of people in terms of coordinating work in their company (kurbakova, 2013). graduates tend to display their original talents or thoughts while still in college. every field of professional activity in modern-day of college graduates has special features, where a number of regular patterns are encountered by young specialists when they aim to realize their creative potential as efficiently as possible (shcherbakova, 2014). management from various levels and companies look at the problem and find a solution differently. in this case, the development of a multi-variant model is needed for students and graduate work based on the data obtained. to make it happen, a series of experiments are carried out; the data obtained are analyzed according to current trends and modifications based on the research found. in the future, students and college graduates can use to develop innovative and creative talents and models. methods in looking at the nature of the problem the company employs college students and graduates, the descriptive method is applied. the analysis of the study group and the gender of their members in terms of hiring employees during the period is conducted. descriptive methods are needed to obtain comprehensive information about a phenomenon or event (saunders & thornhill, 2016). methods of surveying, observation, interviews, and questionnaires are sociological methods used to identify attitudes of social phenomena related to work, careers, and changes in their status. the empirical base of this research is about students’ work in their early careers after graduating from college that is consisting of 50 graduates in 10 private universities in jakarta. the first group consists of 26 people (2017 graduates) that are included 13 male and 13 female graduates. the second group consists of 24 people (2018 graduates) that are included 12 male and 12 female graduates. the age of the informants is 22 to 24 years old. the participants are bachelor degree students, and the students who are looking for work or have worked. ten universities have involved in this research, such as tarumanagara university, trisaksi university, mercu buana university, and seven other private universities in jakarta that graduate in 2017 and 2018. the researchers conduct the interviews and assessments for each individual at different times of the month. the interview process uses phone call and transcribed so that it can help the researchers make conclusions and research. during the time of preparation and meeting the interviewer, it takes around one and a half months. in terms of gender, the researchers focus on taking each female and male panelist equally in order to be able to answer this research. results and discussions from the results of interviews of each student and graduate is presented in table 1. it has been shown that for the first group, 40,50% of male graduates are still trying to find work, 22,65% have worked in companies or continued parent business, and 36,85 % of male graduates work according to the field of interest they like. for the first group of women, graduates have found that 85,77% of women 64 journal the winners, vol. 20 no. 2, september 2019: 61-70 do not seek work again but have worked in the company, 67,92% of female students have worked, and 17,85% have worked according to the method taken during college (table 2). table 1 male graduate in the first group employment of the students frequency percentage plan get a job 6 40,50% worked 4 22,65% worked in their fields 3 36,85% sources: data processed (2019) table 2 female graduate in the first group employment of the students frequency percentage plan get a job 2 14,23% worked 8 67,92% worked in their fields 3 17,85% sources: data processed (2019) for the second group, the researchers ask more about why male graduates do not want to work, and several graduates reveal that they work while studying at the master study program. from table 3, it shows 32,20% of male graduates are not involved in work, 37,47% graduates have worked, and 25,65% of male graduates work according to their interests and majors taken during lectures, and there are 4,68% of male graduates work while studying master program on weekends or at night after returning home. in table 4, female graduates who are not involved in any work more than 5,70%, almost all women interviewed (61,21% ) already have jobs, while 18,65% of female graduates work in their fields, and there are women who are working and studying (14,44%) because they decide to pursue a master’s program. from these tables, it shows that almost female graduates get jobs faster, and men work more in accordance with their specialties or fields of interest. men and women still work in areas that are relevant to their studies, and some are pursuing master’s programs while working. likewise, nadia tio, a graduate of 2017, feels that work gives a better responsibility and makes her being more disciplined. table 3 male graduate in the second group employment of the students frequency percentage not involved in work 3 32,20% worked 4 37,47% worked in their fields 3 25,65% worked and studied 2 4,68% sources: data processed (2019) table 4 female graduate in the second group employment of the students frequency percentage not involved in work 1 5,70% worked 5 61,21% worked in their fields 3 18,65% worked and studied 3 14,44% sources: data processed (2019) the challenges of student …… (william vincent setiawan, et al.) 65 the results of the descriptive analysis can be seen in table 5 and table 6. this measurement is obtained from the interview results of all male and female graduates from each university in jakarta. table 5 graduates’ dynamics (student workforce) from the first group interviewed based on the survey results job of graduates and students man (%) female (%) plan get a job 40,5 14,23 worked 22,65 67,92 worked in their fields 36,85 17,85 sources: data processed (2019) table 6 graduates’ dynamics (student workforce) from the two groups interviewed based on survey results job of graduates and students man (%) female (%) not involved in work 32,2 5,7 worked 37,47 61,21 worked in their fields 25,65 18,65 worked and studied 4,68 14,44 sources: data processed (2019) it is seen during the research that graduates and students have more intentions to work than just staying at home without doing any activities, and it can be seen that the interest of female graduates to work more significantly in table 5. this is evidenced by the number of female students and graduates in getting jobs who are more easy because employment requires more female workers than a man if it is seen from the world of work in modern of indonesia now on. it can be seen from table 5 and table 6 that male graduates are more likely to have difficulty in getting jobs, and most of the jobs offered are sales. female graduates are judged by company management as more qualified and have more experience than male groups. with a level of experience or specialization, it makes women more quickly accepted in the company they want. the response experienced by a man interviewed from tarumanagara university in jakarta has stated that most of the offered work for men to be a salesman or admin to help in archiving data. male graduates, however, still try to get a job from the job expo or employment websites such as jobstreet, jobsdb, and others. female graduates usually start their professional careers sometimes through acquaintances and friends who work in a certain company, or they find relevant work in their fields of expertise while still in college. at the research stage for the second group, it is seen that most male and female graduates find jobs that are appropriate and relevant to the major in college (63% and 79%). this ensures students before taking majors, it must be in accordance with career choices and interests that are preferred, because if students have chosen the wrong direction at the university, in the future, they will find it difficult to determine jobs that are suitable in their field of work. increased employment and demand for employment require workers to be more innovative and able to provide value or a positive impact on the company, given that companies are more selective in finding employees in the labor market. before students graduate from college, they usually have started looking for jobs based on their interest or desired career. there is awareness for job seekers that always want to find information or knowledge obtained from other companies that are looking for employees. when graduates have interests or things they are engaged in, they will mentally understand the advantages and disadvantages of their careers before being involved. they will decide whether to accept or reject the career; in this 66 journal the winners, vol. 20 no. 2, september 2019: 61-70 case, it involves the decision-making process of each new indonesian graduate student. this clearly shows that their career choices will influence the talent and knowledge possessed by college time and preferred interests. the graduates who have an interest in skills careers will show better judgment. this finding supports previous researches that have said the interest in influencing career choices in terms of goals and self-confidence (bonitz, larson, & armstrong, 2010) and lack of interest in careers would lead to poor career preferences for that field (soethout, ten cate, & van der wal, 2008). these findings indicate that the interests or fields favored by graduates influence them in terms of choosing to work in the labor market. analysis of data related to male graduates who are unemployed is generally because they are lazy, and indeed there is no intention to work. unemployed people like to play games mobile legends, pubg, and take part in the current race. it should be noted that almost 67% of male graduates use their time to relax at home by playing games rather than pursuing their careers or enrolling in their master’s programs after graduating from college. analysis for graduates and students in the first group in more men who work in accordance with their specialization than women. it means that male respondents prefer fields that are owned or desirable compared to only working according to the demands of company management, that 36,85% of male graduates have worked according to their specialties and started their professional careers (table 5). for the first group of their undergraduate years, graduates and students in 2017, 90% of them have been employed with 54% of them choosing relevant jobs according to their majors. the facts prove that the motivation of students to work after they graduate is quite high, where it is expected that the number of jobs available to new graduates and students. most students after graduation will certainly immediately find work rather than unemployed at home. as for some graduates who apply to the master’s program and continue their studies and work are 19,12%. this proves that graduates are willing to build careers and develop themselves more diligently in order to be able to face global competition in this modern era. male graduates are more likely to be lazy to find work, so most only rely on their talents or the specialization they pursue. before graduating, female graduates have started applying at several leading companies, thus providing greater opportunities for them to work quickly and have a positive impact on them. in addition, a comparative analysis makes tendency by graduates in both groups to identify a local trend that female students/graduates can adapt more quickly, and get jobs easier in the labor market. women start their professional careers faster after becoming graduates at universities if it is compared is to men. this pattern allows students and graduates to enter the job market with success by finding work according to their field of expertise or at the request of company management. graduates of women who take lectures while working are fairly severe consequences where the time will be consumed at the office. this is confirmed by the workers who work at the pwc, the 2017 graduate students. he/she has said, “i don’t think i have time to read the material given by the lecturer before the lecture begins.” similarly, workers as tax accountants at hero supermarket, the graduates of 2017, and this is his first job. he has assumed that reading can reduce the effective time of work, and he always falls asleep while trying to read. with the commitment of him who prefers work, then reading related to studies tends to be ignored. undergraduate studies demand critical reflection (egege & kutlieleh 2004), and if the period for this action is consumed by work, the value achieved is expected to be lower. careers in the second group appear to be more inclined towards women who work while pursuing master’s program studies at the university, driven by several factors including the demands of companies that want employees graduated from higher education, a global demand in a more competitive world. as a result, 4,68% of male graduates work while studying, and 14,44% of female graduates and the work of each of their graduates work according to their expertise, and educational background was taken in the master’s program. when working while in college, they are better able to adapt to the culture in the company and are managed, given theories or lecture materials that are able to support themselves more valuable. emphasis is placed on making temporary work internships for future the challenges of student …… (william vincent setiawan, et al.) 67 specialists and permanent employment for graduates (zaugolnikov, 2013). the current local trend proves that graduates will immediately look for work after being declared graduated or there is an internship at college and continue working at the company. as at bina nusantara university, an employee who works in blibli has stated that there is a 3 + 1 program; a year training to work in the company, where the company is blibli and after graduating, he continues his career in blibli as an it developer software. this proves that the department chosen by students needs to be considered before starting the lecture. the emphasizing of work skills, competencies, and talents become the competitive advantages that graduates and students can use. the graduates who work while in college may have a purpose to pursue their careers in the company so they can be promoted. the graduates help in finding trends; university support and encouragement in providing and teaching students related to the labor market is very necessary so that they can be used in the world of work in the future. the involvement of more active lecturers is needed for the use of student technology and the development of their talents or specialties. conclusions creative potential and innovative ideas possessed by graduates and students sometimes have not been used to the maximum extent possible. the biggest problem is the lack of jobs where companies are more demanding of talent possessed by graduates that can be applied as well as educational backgrounds that are suitable for their jobs. according to this research, the key to mitigating university graduates so that all gender can work is by educating the human resources management and the opening of a labor market for all people in indonesia. the dynamics of the entry of graduates into the labor market changes over time because it is influenced by situations in the current economic complexity. seen from the first group, there are still male graduates who still have not got a job in their careers in the undergraduate year. in the second group, it is seen that graduates and students are more aware and understanding of the labor market in their year and launch their careers, some even multitasking, which combines study and work. this research finds the changes in the dynamics and views of graduates who are faced with the challenge of finding work after graduating from college, where many of the graduates want to find work according to their field of expertise. students and graduates in the first and second groups have identified that there is more female gender have worked in companies than unemployed, female graduates get relevant jobs, and possessed expertise as their priority in the labor market. the main changes are clearly seen in graduates and students as they enter the profession from graduation to being a worker in an indonesian company. they look wiser, able to manage time, discipline, and career planning is more focused and thoughtful. besides that, the graduates have more goal-oriented because they become aware of the desired global market, increasing preferences regarding students when they find their first job. the researchers would like to express their gratitude to graduates and students who have provided complete information and opportunities to produce this research in such a way. overall, the results of the research have provided new insights regarding career choices in indonesia. in particular, this research reveals that the abilities or talents possessed by students, the gender of students, career interests significantly influence graduate career choices in indonesia. it is expected that companies in recruiting employees carried out by human resources management not only look at grades, or majors in college, but look at the abilities, knowledge, and interests of each recruit to be able to identify and adapt to career and company performance. the results and discussion of this research must be considered given its limitations to inform the direction for future research. first, this research is an initial investigation into the career development of new graduate students in indonesia in finding 68 journal the winners, vol. 20 no. 2, september 2019: 61-70 employment in the labor market. second, this research sees that most workers are dominated by women in indonesian companies, so men work more in the field like sales, marketing, shop admins, and so on. although the position of variables in this research is supported by literature, further research is needed to examine the relationship of variables cross-sectionally so that causal relationships can be established. further 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(2008). gender and racial gaps in earnings among recent college graduates. the review of higher education, 32(1), 51–72. from https://eric.ed.gov/?id=ej812588. http://dx.doi.org/10.5901/mjss.2015.v6n3s5p161 https://doi.org/10.1177%2f1521025116638344 https://eric.ed.gov/?id=ej812588 70 journal the winners, vol. 20 no. 2, september 2019: 61-70 appendix a interview protocol working paper name of interviewee : date : age : time : gender : number list of questions answer q1 are you a new indonesian graduate student? q2 what is your major? q3 have you worked now? q4 what caused you not to get a job? q5 how do you get work? where did you get the info? q6 does study in college help when you work? q7 are your skills or talents used when in the labor market? q8 how do you feel when you get a job? q9 what do you feel when you continue to study master's programs while working in a company? q10 does the university where you study help you find employment? *corresponding author p-issn: 1412-1212 e-issn: 2541-2388 21 the winners, 21(1), march 2020, 21-26 doi: 10.21512/tw.v21i1.5888 trade integration indonesia-asean4 in aec era: a case of wood-based products pauline henriette pattyranie tan* faculty of management, pelita harapan university jl. gedung d-lantai 1, jl. mh. thamrin boulevard 1100, karawaci, tangerang, banten 15811, indonesia pauline.giok@gmail.com received: 10th september 2019/ revised: 23rd october 2019/ accepted: 30th october 2019 how to cite: tan, p. h. p. (2020). trade integration indonesia-asean4 in aec era: a case of wood-based products. the winners, 21(1), 21-26. https://doi.org/10.21512/tw.v21i1.5888 abstract the research was conducted to find out the level integration intensity using grubel-lloyd index. moreover, since horizontal and vertical intraindustry trade (iit) could be distinguished, it was important to find out whether indonesia-asean4 iit of wood-based products was in one of these categories. the hufbauer index had been used as the measurement of product differentiation. therefore, it could be the basic information for taking policy to boost indonesia-asean iit for this industry. the data used comprise annual statistics of wood-based product export and import between indonesia and asean4 from 2010 to 2016 which were divided into eight categories of five digits isic. the grubel-lloyd index result shows that only isic 16102 has achieved strong integration, the others are still in mild and even weak integration. the hufbauer index results show that all the values approached to zero, indicated that overall wood-based products traded by indonesia-asean4 are horizontally differentiated. keywords: intra-industry trade (iit), wood-based product, product differentiation, trade integration i. introduction the establishment of the asean economic community (aec) in 2015 is a major milestone in the regional economic integration agenda in asean, offering opportunities in the form of an immense market and for over 622 million people. since the first time aec was proposed in 2007, asean has become the third largest market in the world, increased intraasean trade nearly us$1 trillion, and with the combined gdp of us$2.6 trillion in 2014, asean economy was the seventh largest in the world. in addition, foreign direct investment inflow in asean increased by 11% in 2014, compared to only 5% in 2007. (asean, 2015). since the beginning, the end goal of aec under blueprints 2016 has been the economic integration, through free flow of goods, services, investment, capital, and skilled labor. to achieve this goal, twelve priority integration sectors have been identified to accelerate economic integration. the twelve priority sectors are agro-based products, air travel, automotive, wood-based products, e-asean, electronics, fisheries, healthcare, textile and apparels, tourism, and logistics. some member countries agree to have the coordinator role for every sector, and each priority integration sector has its roadmap. in this case, indonesia is the coordinator for automotive and wood-based products. for the economic integration purpose, every member country must remove barriers to trade which are tariffs and non-tariffs barriers according to the common effective prefential tariffs for asean free trade area (cept-afta) agreement for all the commodity categories. the elimination of tariffs on all intra-asean goods from 0% up to 5% has been fully implemented by 2010 for asean-6 and by 2015 for cambodia, laos, myanmar and vietnam (clmv). the implementation of the aec blueprint 2015 has been substantially achieved. the achievement of mea scorecard per june 2015 has reached 91,1%. this achievement reflects that asean and indonesia have consistently fulfilled its commitments (ridhwan et al., 2015). the basic concept of aec 2025 is to deepen integration and highly cohesive asean economy thus supports sustained high economic growth. hence the concept of iit is considered important to measure the level of asean trade integration intensity. as previously mentioned, one of the priority programs for this integration is wood-based products. iit has been interpreted as the trade that occurs in industries and fall under the same industry classification, or for products, which are related 22 the winners, vol. 21 no. 1 march 2020, 21-26 to one another, or products that use similar factors of production intensity (krugman, 2015). this is possible to happen since some members of the asean countries have geographically similar endowments and technology. these facts indicate that international trade in a monopolistic competitive industry has created trade in the same industrial classifications. iit is important to boost economic integration as the key for the growth of economy. for instance, economic integration in kenya has provided opportunity for the country to expand private investments to get more value addition and diversification of its exports. hence kenya is able to maintain its economy in sustainable growth path (kenya institute for public policy research and analysis, 2017). one of the previous researches conducted in africa shows that its future sustainable growth and development depend on the increasing of its intra-trade level and investment within the african continent. some developments in intra-trade have happened in recent years. for instance, intratrade in africa is between 10% and 13% of total trade, the european union (eu) has 60% of trade in eu members, asean has an iit rate at about 25%, while in north america, the intra-trade is at about 40%. the eu remains to have the highest rate of iit (african economic outlook, 2017). the united nations economic commission for africa (uneca) projects an increasing of 52% in intra-african trade by 2022 relatively to the levels in 2010 if the afcfta is implemented (“afreximbank 2018 audit”, 2019). research on iit for agri-food product in european union (eu) market has found out that economic integration supports the increase in iit for the new member states towards the ue-27 markets. it was also for measuring vertical and horizontal intraindustry trade of the 11 new member states with eu by using the classical grubel–lloyd (gl) index with the data in the period 1999–2010. it has been found that the nature of their iit is more vertically intratrade (jambor, 2014). another research finds out about mexico. as the us main trading partner, its main exports to the usa are based on iit. the products exported and imported in both countries have been focused on the automobile industry and telecommunications. mexico’s specialization in exporting the automobile and electronic products has created its comparative advantages to other countries, especially the us and china. it is also concluded that comparative advantages have a positive impact on the intra-industry trade of mexico (mendoza cota, 2016). the effect of regional integration agreement towards iit has also found out by using gravity models as the determinants of it, for the 19 countries of western hemisphere for the period 1970–2014. gravity models are used as a control for trade creation and diversion and iit. the research analyzes the impact of common market of the south, andean community, central american common market and north america free trade agreement. it is found out that iit has a contribution to trade expansion, while export diversification negatively affects bilateral trade in these regional free trade agreements. (martinmayoral, carofilis, & guijarro, 2016). based on these researches, it can be concluded that iit has become an important solution for the trade between indonesia and other asean countries, as well as the existing inter-industry trade to boost asean integration. this is because members of the asean countries geographically have similar endowments and technology factors, similar culture and relatively close distance. iit is the result of specialization through product differentiation and economies of scale that created possibility for all member countries to trade within the same industries, although the resources and technology used in producing these goods are similar and even in tastes. the iit measurement in turn becomes an indicator of the similarities and convergent of the trading nations in their block integration (aturupane, djankov, & hoekman, 1999). some researches on iit by using grubel-lloyd index shows a low value for the asean region, which means that trade is more of the inter-trade nature rather than intra-trade. however, from year to year the intra-industry trade index keeps increasing (jha & saha, 2011). research conducted by jha & saha (2011) shows that the total intra-trade for asean-5 remained stable since the implementation of afta in 1995 to 2001, but then after that it has been increasing gradually, especially trade between indonesia-singapore, indonesia-thailand and singapore-philippines. their research also finds out that the asian crisis has not had a significant impact on the intra-industry trade among asean-5. the existence of the increase in the intraindustry trade index in asean indicates that trade integration in that region is increasing. another research conducted to measure the development of iit asean in 1990 and 2010. it is shown that in 1990 characteristic of iit asean was dominated by malaysia and singapore. in 1990, the combined shares of singapore and malaysia for iit asean were 69,2% and 78,5%, respectively. however, iit asean declined substantially in 2010. the combined shares of singapore and malaysia for intra-asean exports and imports were 48,9% and 52,4%, respectively. singapore plays a large portion of iit asean due to its role as a transportation and distribution hub in the asean with developed transportation infrastructure such as seaports and airports. moreover, singaporean people have a relatively high income per capita, which played a role in promoting its trade with other asean countries. on the other hand, malaysia is also another relatively high-income country. high income per capita is the main determinant of boosting demand for imports (okabe & urata, 2014). therefore, it becomes clear that there should be more in-depth research about the indonesian capability to establish intra-industry trade with asean4, which 23trade integration indonesia ..... (pauline henriette pattyranie tan) is supported by the domestic output in the wood-based products. ii. methods grubel-lloyd index suits the measurement of the integration intensity pursued for aec 2025 by using it to calculate the iit in asean region. for the research, the using of grubel-lloyd index is to find out the integration intensity within asean countries, and then to determine the impact of differentiated product toward iit indonesia-asean4 (singapore, malaysia, philippines, and thailand). the reason for choosing these asean4 is that export-import conducted by indonesia and other asean member countries is the greatest amount compare to other member countries. the data used are secondary raw data, supplied by biro pusat statistik of indonesia (bps) collected for wood-based product that are classified in 5 digits international standard industrial classification (isic). the classifications are isic 16102 (manufacture of sawmilling and wood preserving), isic 16211 (manufacture of plywood, laminated plywood included decorative plywood), isic 16212 (manufacture of laminated plywood included decorative plywood), isic 16214 (manufacture of veneer sheets), isic 16221 (manufacture of carpentry and joinery), isic 16293 (manufacture of wood carving except furniture), isic 16299 (manufacture of other goods made from wood, rattan, cork and bamboo) and isic 31001 (manufacture of wood furniture). they are referred as krugman, dixit and norman and the most preferred or the ideal variety terminologies from krugman and lancaster with a determinant that is called industry specific, obtains the understanding of horizontal iit from the wording love of variety. vertical iit was proposed by varley in 1981 that looked into the iit from a different explain that the term iit is understood as exchange between countries with products that are related to each other or that are strong substitutes in demand. the exchange of those products is the result of the same or similar production factor intensity. krugman (2015) provides a definition for iit as a two-way trade for goods that are in the same industrial classification standard. it occurs when each industry in each country produces different kind of goods using the same production factor intensity, but the products are differentiated by its attribute or different characteristic. i. these data are compiled as panel data with the year of 2010 to 2016 that are referred as t. all the data used here was raw data or unpublished. the iit model is based on product differentiation and can be distinguished into iit horizontal and iit vertical. grubel and lloyd differentiated between the two-way trade for goods that are substituting each other, which is called the horizontal iit, and for goods that are different in the level of the process into the final good, which is called the vertical iit. greenaway, hine and milner then developed this definition further that horizontal iit is trade for goods that are different in their attributes, while vertical iit involves good that are differentiated according to their quality. some researchers have been conducted to investigate the features and determinants of the horizontal and vertical intra-industry trade (hiit and viit, respectively). for information technology industry in asian, the eu and the us markets, by using data from 1996 to 2005, it was found out that hiit was more dominate than viit. but recently, the comparative advantage of these countries influenced significantly vertical specialization between asia and the eu, while horizontal specialization dominated trade between asia and the us (byun & lee, 2005; chang, 2009; chin, yong, & yew, 2015). iit in the research is calculated by using five digits isic disaggregate of wood-based products traded by indonesia-asean4 in 2010 to 2016. the grubel-lloyd formula has been used in many researches as follows: iiti = (xi + mi) |xi – mi| (1) where i=8, t=7, xi and mi each is the value of export and import of the same industry respectively and are calculated based on the value of the currency of the country under analyzed or the home country (yoshida, 2013). the gl-index = (2) the measurement results in variation from 0 to 100. this equation is the iit grubel-lloyd index which later are being used broadly by researchers in looking for the level of iit between advanced countries and developing countries including iit in the asean region, and as the measurement of the intensity of trade integration (yusefzadeh et al., 2015). krugman (2015) explained the phenomena for iit product differentiation, increasing returns to scale, and monopolistic competition as an approach for the imperfect market structure. this is different from the theory for international trade for inter-industry trade that is based on the comparative advantage, which assumes a constant return to scale and homogeneous product. the iit model does not show to us which country is producing what good in that industry, the one that is known is only that each firm within an industry in a country will produce differentiated products. in short, the iit model can be written as: iit = f(se, dp) (3) where se is the economies of scale variable and dp is the product differentiation variable. product differentiation is calculated by using the hufbauer index to find out how whether the products are horizontal differentiated. the hufbauer index (hii) = (4) where j=indonesia; k=singapore, malaysia, 24 the winners, vol. 21 no. 1 march 2020, 21-26 thailand, philippines; σ= standard deviation of the unit export value of product i from country j (indonesia) to country k (partner country); μ= average of unit export value of product i from country j to country k. the more hi value reaches 0 the product traded becomes more horizontally differentiated (funke & ruhwedel, 2001). the unit export value of product i is based on the f.o.b. value in real rupiah. this measurement is also used in analyzing factors influencing intraindustry trade in the food sector in the asean region, by using panel data (takamatsu, 2016). iii. results and discussions the raw data of indonesia-asean4 exportimport from 2010 to 2016 are used to calculate iit of wood-based products by using equation 1. the raw data of indonesia’s export to the asean4 country members are shown in figure 1. figure 1 indonesia’s export of wood-based products to asean4 in 2010-2016 the data show that indonesia’s export of woodbased products showing an increase in some products especially isic16102 (manufacture of sawmilling and wood preserving), isic 16211 (manufacture of plywood, laminated plywood included decorative plywood), and 16221 (manufacture of carpentry and joinery), while the others relatively stable or even decrease in 2016. for import, the data can be seen in figure 2. the data show that indonesia imported product in isic16102 (manufacture of sawmilling and wood preserving) in large number. the good thing is it is decreasing in 2016. the second is isic 31001 (manufacture of wood furniture). overall, the data reveals all imported goods decreasing in 2016, which is desired for every nation. all the data are, then, used to calculate the measurement of the intensity of integration. by using the iit formula on equation 1, the result is provided in figure 3. figure 2 indonesia’s import of wood-based products from asean4 in 2010-2016 figure 3 indonesia-asean4 intra-industry trade of wood-based products. the result of equation 1 to get the conclusion about the intensity of integration, the result is transformed to grubel-lloyd index as shown by equation 2. the result of equation 2 is provided in table 1. table 1 gl-index and integration intensity of woodbased products, indonesia-asean4 in 2010-2016 isic code gl-index integration intensity 16102 82,38 strong integration 16211 7,83 weak integration 16212 49,62 mild integration 16214 13,21 weak integration 16221 45,06 mild integration 16293 8,66 weak integration 16299 44,87 mild integration 31001 44,87 mild integration source: calculation result of equation 2 these data show that only product isic 16102 (manufacture of sawmilling and wood preserving) 25trade integration indonesia ..... (pauline henriette pattyranie tan) have strong integration, between indonesia and asean4. it is indicated by the high amount of export and imports from both side counterparts, resulting in highest gl-index. isic 16211(manufacture of plywood, laminated plywood included decorative plywood), 16214 (manufacture of veneer sheets) and 16293 (manufacture of wood carving except furniture) have weak integration level due to the imbalances of export and import to and from asean4. import of isic 16211 is still larger than the export despite the decrease in 2016. export for isic 16214 is much larger than import. the export is relatively stable for the year periods while import is decreasing. isic 16293 is dominated by indonesia’s export much larger than import from asean4. these imbalances result in weak integration. to support the integration, either export or import must be escalated. in the effort of increasing the value of output of the wood base products, it is necessary to increase the amount of domestic output to increase the volume of iit between indonesia and asean4. previous surveys showed that indonesia remains to have large opportunity to market its products globally. field observations also reveal the fact that wood-based products have no problem in relation to its market demand. the market remains considered wide-open, especially for products with particularly demand. the increase in price will not be a problem as long as the design and quality are accepted by the consumers. hence there is an opportunity for the business expansion. as the theory of iit, that one of the determinants of iit is product differentiation. the product differentiation results in horizontal iit or vertical iit. in order to find out the nature of indonesia-asean4 iit, it is important to find out the criterion of the iit itself. for this purpose, product differentiation is measured by hufbauer index from equation 4. the results are shown in table 2. based on theory, the more hi value reaches 0, the traded product becomes more horizontally differentiated. data in table 2 indicate that overall wood-based products traded by indonesia-asean4 are horizontally differentiated. it means that the iit of these products are different in their attributes. these traded products are similar in the quality but different in features such as shape and the number of types of the goods included in each isic. in fact, indonesia’s wood-based products experience many new derivative products. when viewed in terms of the sustainability of exports, the actual export of indonesia’s forest products has increasingly diversified and has been able to create many new products. the ministry of environment and forestry (klhk) expressed optimism that exports of national wood products in 2018 will increase compared to previous years. in the last five years exports of national wood products have tended to increase (neraca, 2018). table 2 hufbauer index result for indonesiaasean4 iit of wood-based products isic code name of wood-based product hufbauer index 16102 manufacture of sawmilling and wood preserving 0,034 16211 manufacture of plywood, laminated plywood included decorative plywood 0,060 16212 manufacture of laminated plywood included decorative plywood 0,045 16214 manufacture of veneer sheets 0,125 16221 manufacture of carpentry and joinery 0,020 16293 manufacture of wood carving except furniture 0,059 16299 manufacture of other goods made from wood, rattan, cork and bamboo 0,037 31001 manufacture of wood furniture 0,039 source: calculation result of equation 4 iv. conclusions the results of the iit measurement show that overall indonesia and the asean4 countries counterparts are on mild trade integration. it means there are balances in the exported and imported trade products. only three of the eight isic categories are in weak trade integration, due to the imbalances of export and import. for decorative plywood products (isic 16211), it has a quite large trade imbalance result in the very low export, therefore the export needs to be escalated. the number of domestic productions need to increase, although its relatively high production cost becomes one of the obstacles for global competitiveness for indonesia’s plywood manufacture products. more investment on this product is needed to increase its production. another way to escalate is by the enforcement of timber legality verification system issued by indonesian ministry of environment and forestry to tackle the sustainability issue. the results of hufbauer index also show that the criterion of the trade is in horizontal iit, meaning that these products are considered different in their attributes. the issue of the weather differences of each country can affect the quality of indonesia’s products of wood-based products. in this case, the iit should be improved to the vertical iit where the exchanged goods vary in quality. for this reason, it is important to find out the impact of horizontal and vertical product differentiation on indonesia-asean4 iit. therefore, it is suggested there are further research about the impact of horizontal and vertical differentiated product on indonesia-asean4 iit of wood-based products. 26 the winners, vol. 21 no. 1 march 2020, 21-26 references afreximbank 2018 audit. 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(2015). a study of comparative advantage and intraindustry trade in the pharmaceutical industry of iran. global journal of health science, 7(6), 295-307. https://doi.org/10.5539/gjhs.v7n6p295. analysis of attitude, motivation …… (nina maharani; lufthia sevriana) 13 analysis of attitude, motivation, knowledge, and lifestyle of the consumers in bandung who shop through instagram nina maharani1; lufthia sevriana2 1,2management study program, faculty of economy and business, bandung islamic university (unisba) jl. tamansari no.1 gd. k.h.e.z muttaqien lt.2, bandung, indonesia 1ninamaharani@unisba.ac.id; 2lufthia.sevriana@unisba.ac.id abstract the research purposes were to find out the most dominant variable (either it was attitude, motivation, knowledge or lifestyle) that had influenced consumers to do shopping through instagram, and to give a contribution to the marketing strategy for seller/reseller who run an online business through instagram. the method of this research was a survey with 154 people chosen by accidental sampling. data analysis of this research used a confirmatory factor analysis. it finds that the most dominant variable that influences consumers’ purchasing decision through instagram is consumers’ knowledge. by knowing what the most dominant variable is, this study proposes the most appropriate marketing strategy base to the promotion of a brand in instagram. the segmentation bases that can be used in instagram are gender, social class, age, and lifestyle. the marketing target includes women of middle social class ranging from 15 until 25 years old. most products sold in instagram are related to fashion, accessories, and gadget. keywords: consumer attitude, consumer motivation, consumer knowledge, consumer lifestyle, instagram introduction modern human activities cause people not to have much time to shop. however, by using internet technology, there comes a new phenomenon which is called online shopping channel. this channel helps societies get used to online shopping facilities to buy all things needed. through online shopping channel, the buyers feel assured that they can save time, energy, and cost. (warayuanti & suyanto, 2015). adi (2015) has added that there are developing and promising virtual store categories nowadays, such as fashion, electronic, and gadget. levy & weitz (2014) has declared that in addition to the shop, retailers can also communicate with their consumers through the internet (the internet retailing) or smartphone (mobile retailing). the same thing has been said by adi (2015) while stating that there are some general kinds of stores that exist. they are not only the physical form (brick and mortar store) but also the other form called online retail sites (virtual store). it is more famous by the name electronic retailing (e-retailing). adi (2015) has also mentioned that online lifestyle will last for a long period, so e-commerce market is surely predicted to have a great opportunity. especially in the virtual store, there are still many rooms to grow. it is because the number of selling is not more than 1% if it is compared with the whole retail. one of the most important activities in e-commerce is online shopping. online shopping activity includes online retailing, searching for the product, searching for product information, choosing the method of payment, communicating with another consumer, and buying goods or services (cai & cude, 2008). the number of internet users’ enhancement in indonesia is sufficiently promising for the growth of online market (e-commerce) which has a wide market opportunity. to see whether the internet users mailto:1ninamaharani@unisba.ac.id 14 journal the winners, vol. 18 no. 1, march 2017: 13-23 utilize technological flow maximally, it depends on their needs. most of our societies have the different point of view about internet shopping (elfina & fajrianthi, 2010). social media has changed consumers’ way of seeking information, evaluating products, and giving feedback on products. in 2012, one out of five consumers searched about a certain brand and its product information on facebook, and almost 42% of the consumers become social network friend with some brands to get additional information (hillard, 2012). various aspects of social media as a strange, mystifying, and counterintuitive space are highlighted by meyerson (2010). they explain that it is all about people, and people are puzzling. social media is all about understanding what triggers people as individuals and groups. they also state that the social media has the six persuasive psychological forces embedded, which are (1) reciprocity, humans by nature are obligated to repay favors, gifts, and invitations, (2) social proof, unintentional act of looking for approval from the society for our actions, (3) liking, being liked by online users affects sales positively, (4) authority, it is natural to respect and obey a form of authority, (5) scarcity, and (6) commitment. one of the newest social media tools that is available to the brand is instagram. it is a mobile application that allows its users to capture and share images as well as videos with followers. these days, instagram starts to be enthused by indonesian societies as one of social media account with visual usages, such as a feature of uploading photos and videos (lestari, 2014). as a large visual social media tool, instagram allows a business to reach consumers and strengthen its brand in new ways (lavoie, 2015). this eventually makes instagram an effective tool to reach the consumers. in a day, five million photos are shared in instagram on a daily basis. these days, 50% of the top brands use instagram as a marketing channel (wally & koshy, 2014). instagram consists of 200 million monthly active users and a total of 20 billion shared photos during these three years period (ting, 2014). based on the results of a survey done by tns, indonesia is a country with the biggest amount of instagram users after japan and brazil. due to a large number of instagram users in indonesia, instagram has many roles in the online market in indonesia. various instagram accounts that have many followers are redirected to using commercial media (endorsement). every time an instagram account owner promotes a product, there will be many people who see the product and a fraction of those people that will buy the products. consequently, online marketing in instagram gains large profits. sumall, an analysis institution, reported at its newest annual report that instagram is claimed to be the most effective media social platform to boost business. in its annual end of year report, sumall also submitted three other social media; they are (1) facebook, (2) google+, and (3) twitter. it is claimed that instagram is the only mobile application based service acclaimed as social media that can create new followers at the fastest rate, making it a very good condition for entrepreneurs (aditama, 2014). followers in instagram are either potential consumers or even the loyal consumers of a brand. there are some factors that influence consumers’ buying behavior such as (1) cultural social environment (culture, social class, and group), (2) psychological factors (motivation, perception, education, attitude, and behavior), and (3) personal factor (lifestyle, role, and job status) (schiffman & kanuk, 2007; kotler & keller, 2009). by better understanding consumers’ behavior, the company will be able to give the right satisfaction and a better service to its consumers. based on the preliminary survey, the factors that have influenced consumers to do shopping through instagram are; (1) attitude, the consumers prefer shopping in instagram because of various products that are answered by 100% of the respondents. (2) motivation, consumers prefer shopping in instagram because the prices of the products are affordable that are answered by 72% of the respondents. (3) knowledge, instagram promotes other products, for example, food, cosmetics, and others besides fashion products that are answered by 92% of the respondents. (4) lifestyle, consumers who shop in instagram have understood information technology that is answered by 92% of the respondents. analysis of attitude, motivation …… (nina maharani; lufthia sevriana) 15 from the background that has been explained, researchers are interested in examining which factor or variable among attitude, motivation, knowledge, and lifestyle that is the most influencing for someone to shop in instagram. thus, the research problem is which variable comes most dominantly (attitude, motivation, knowledge or lifestyle) in influencing consumers to shop through instagram. another research problem is to contribute a marketing strategy for brands that are sold through instagram. instagram is a medium designed specifically for visuals. its capability to share photos easily on social platforms contributes to its tremendous growth (wally & koshy, 2014). ting (2014) has declared that instagram is a worldwide online social networking site that provides a platform for people to share photos and videos with others. there are also many online shops in instagram that sell different products such as fashion, cosmetics, and daily commodities. instagram users can check out the online shop pages and look for information about different products. schiffman & kanuk (2007) and kotler & keller (2009) have declared that consumers’ behavior is the knowledge that is learned to know how the consumers make their decisions to buy a product and some factors that influence that decision. to make a decision for purchase, the consumers will follow the buying process with these steps; (1) recognizing the needs, (2) searching for information, (3) evaluating alternatives, (4) purchasing, and (5) behavior after the purchase. every step of the buying process is influenced by social cultural environment (culture, social class, and reference group), psychological factor (motivation, perception, learning, attitude, and personality) and personal factor (lifestyle, role, status, and job). sumarwan (2011) has declared that attitude is the expression of consumers about an object, whether it is like or dislike. an attitude can also figure consumers’ perception to varied attributes, benefit or form its object. a similar statement is also declared by suhartanto (2008), which is attitude is someone’s evaluation form that is consistent with something, her/himself of his/her environment that involves the factor of motivation, emotion, perception, and comprehension about something. measurement of attitude uses fishbein’s model according to which, people build the attitude of an object based on three things. those are (1) attribute, a characteristic object which consumers will consider when they evaluate a product. (2) trust, to measure how far the consumers’ appraisal to something owned by an attribute is. (3) importance weight, to show how far relative priority of an attribute perceived by consumers is (suhartanto, 2008). by knowing consumers’ attitude, marketers can identify utility segments, develop the new product, formulate it, and evaluate the promotion strategy (sangadji & sopiah, 2014). the results of a research conducted by warayuanti & suyanto (2015) that have declared attitude has a high influence to determine product purchase through online shopping. motivation is something that comes out from inside or outside of people that could become a boost factor to reach the goal that people want to accomplish (sangadji & sopiah, 2014). sumarwan (2011) has mentioned that motivation is a thrust that comes out of a consumer that will influence the decision process of purchase and the product usage. a motivation theory that commonly used is maslow’s theory of the hierarchy of needs (schiffman & kanuk, 2007). based on that theory, human needs are tiered to (1) physiological needs such as the need for food, water, home, and clothes, (2) safety needs, (3) social needs such as contact with another human, (4) appreciation needs/ego which is the need to have achievement so people can reach work achievement and better career, and (5) self-actualization need (schiffman & kanuk, 2007). consumers’ knowledge is all the information and experiences that owned by the consumer about a certain product (mowen & minor, 2002). consumers’ knowledge is divided into three; they are; (1) product knowledge, (2) purchasing knowledge, and (3) usage knowledge (sumarwan, 2011). according to schiffman & kanuk (2007), the knowledge that is achieved by consumers or personal experience will be valid as a feedback for that person and will be a standard for the same situation in the future. this matter is emphasized by sumarwan (2011) that stated that consumers’ knowledge becomes a standard to decide what someone will buy, how many things he/she will buy as well as where and when he/she will buy it. when a consumer has more knowledge about some products, then he/she will be in a better 16 journal the winners, vol. 18 no. 1, march 2017: 13-23 situation to make his/her decision, and he/she will be more efficient and precise to process the information. he/she will also be able to do better to recall the information collected before. similar to the statement from dai, forsythe, & kwodai (2014), they have described that online shoppers with online apparel shopping experience may perceive purchasing apparel products online to be less risky than those with limited experience. this is due to the familiarity that they have with the online channel for apparel purchasing which makes them feel more confident about their ability to choose the right online products. lifestyle is a pattern of someone’s life in the world that reflects on his/her activities, interest, and opinion. lifestyle is commonly associated with activities, interest, and someone’s opinion (kotler & keller, 2009). according to mowen & minor (2002), lifestyle shows how someone’s life is such as how someone spends his/her money and how someone allocates his/her time. lifestyle reflects the whole personal life that interacts with the environment. lifestyle in marketing perspective is a segment group that relies on to what they want to do and how they spend their income. sumarwan (2011) has added that lifestyle will show more of someone’s behavior as it tells about how he/she faces life, uses his/her money, and utilizes his/her time. krishnan (2011) has added that consumers often choose the product and activity related to their lifestyle. the results of research that is done by warayuanti and suyanto (2015) have declared that lifestyle is a factor that influences the consumer’s decision at the time of online shopping. lifestyle and attitude are important factors which have to be considered at the time of online shopping in indonesia. here are several reasons why instagram is used as an object in this research; (1) based on the consumers’ perception, the features in instagram are simpler and user-friendly because of its attractive visual content and filter option as well as its great number of users. (2) based on the producers’ perception, photos published by them are in a safe protection on its copyright because they cannot be downloaded, but they have to be captured manually. not only that, but they are also given a watermark and will automatically have their particular characteristics. through the pictures and videos uploaded to instagram, a brand will get an opportunity to build a relation with its prospective consumers without facing any language matter. by knowing the factors of the consumers’ lifestyle, motivation, knowledge, and attitude, producers are able to create a marketing strategy (segmentation, targeting, and appropriate positioning), and a marketing mix suitable with the targeted goals. methods the research objects are instagram users in bandung, a town whose citizens are mostly youngsters. there are two statistical analysis methods used in this research; they are (1) descriptive analysis method to describe the result of the examination of the sample, and (2) confirmatory factor analysis to find out the determinant factors for the consumers to shop in instagram. the confirmatory factor analysis is an analysis method used to statistically confirm the model established by the researchers whether the measurement is appropriate to the hypothesis or not. only then can it be learned which factors or variables are dominant. in the confirmatory factor analysis, there are latent variable and indicator variable. the latent variable cannot be formed and directly built. meanwhile, the indicator variable is a variable that can be monitored and directly measured. the latent variables in this research are motivation, attitude, lifestyle, and knowledge. the initial step in the confirmatory factor analysis is taking a feasibility study of factor analysis by paying attention to the index kmo and msa to every indicator. the kmo index consists of numbers showing the feasibility study of the factor analysis. this index has the similar function as the function of common reliability value. the factor analysis can be further analyzed if its kmo index > 0,5. msa analysis of attitude, motivation …… (nina maharani; lufthia sevriana) 17 is numbering showing a validity of an indicator in describing the variables. this will be claimed valid if its msa > 0,5. the amount of the contribution given by every dimension is seen by percentage value of variance (% of variance) which consists of numbers showing how big the fund given by each dimension in explaining other variable is. in this research, the writer uses a survey method. according to sugiyono (2014), survey method is research that is done in big population or small population with the studied data taken from its population sample to find out relative events, distribution, and the relation among sociological, or psychological variable. this method is used to give an in-depth description of a picture about attitude, motivation, knowledge, and lifestyle of consumers in instagram in the area of bandung. population in this research is the whole consumers who shop through instagram in october-december 2015. the sample is half of the consumers who shop through instagram which sums up to 154 consumers with accidental sampling technique. the variables used in this research are attitude, motivation, knowledge, and lifestyle. results and discussions from the results of the questionnaire that was given to the respondents, it can be inferred that majority of the consumers who shops using instagram are women (61,7%) at the age of 15 – 20 years (66,9%). moreover, the majority of them are as school students or university students (65,6%) with an estimated monthly income of approximately rp500.000,00 – rp1.500.000,00. zhou, dai, & zhang (2007) have suggested that both male and female are likely to do online shopping in the future. most of the respondents shop through instagram more than once in a month (60,4%) buying goods such as fashion/clothes (49,4%), shoes/bag (29,2%), accessories (watch, hand lace, hat, & necklace) (16,2%), and electronic goods (5,2%). the results of research by ting (2014) has declared that one of the respondents’ activities through instagram is to look at online shops pages. based on questionnaire that is distributed to the respondents, it is gained some responses about attitude, motivation, knowledge, and lifestyle that are connected to online shop through instagram. these are score responses that connect with consumers’ attitude, motivation, knowledge, and lifestyle, which have following response notes: sa = strongly agree a = agree qa = quite agree disa = disagree sdisa = strongly disagree table 1 respondents’ response about attitude sa a qa disa sdisa total average like to shop in instagram because product displayed is exactly the same as the real product that is bought 17 11,0% 87 56,5% 40 26,0% 10 6,5% 0 0,0% 154 100% 3,72 like to shop in instagram because it doesn’t require going out of home 62 40,3% 63 40,9% 25 16,2% 4 2,6% 0 0,0% 154 100% 4,19 i believe that instagram is a favorite place to shop online 27 17,5% 72 46,8% 47 30,5% 8 5,2% 0 0,0% 154 100% 3,77 18 journal the winners, vol. 18 no. 1, march 2017: 13-23 table 1 respondents’ response about attitude (continued) sa a qa disa sdisa total average like to shop in instagram because of various products. 44 28,6% 86 55,8% 22 14,3% 2 1,3% 0 0,0% 154 100% 4,12 3,95 (source: data is treated, 2016) table 1 presents that majority of the respondents declared that they love to shop in instagram because the products displayed are similar to the real products that they bought, they do not need to go out of the home, and the products are various. nowadays, online consumers tend to be convenienceoriented, and the recreational and economic shoppers appear to become dominant (zhou et al., 2007). overall, the average score that is gained for attitude is 3,95. therefore, it can be concluded that the respondents in general really love to shop using instagram. the results of research from hsu & bayarsaikhan (2012) have declared that there is a positive relation between online shopping attitude and consumer’s innovations (a concept which is related with adoption process of new goods or services). there is a positive relation between perceived benefits (shopping convenience, ease/comfort of shopping, and enjoyment) with online shopping attitude. there is also a negative impact on perceived risk (privacy risk and security risk) with online shopping attitude. table 2 respondents’ response about motivation sa a qa disa sdisa total average shop in instagram in order to follow the trend 19 12,3% 52 33,8% 39 25,3% 44 28,6% 0 0,0% 154 100% 3,30 shop in instagram because it is secure from deception 14 9,1% 32 20,8% 70 45,5% 34 22,1% 4 2,6% 154 100% 3,12 shop in instagram because the product price is affordable 18 11,7% 83 53,9% 41 26,6% 12 7,8% 0 0,0% 154 100% 3,69 shop in instagram in order to be called “high tech” 15 9,7% 42 27,3% 42 27,3% 41 26,6% 14 9,1% 154 100% 3,02 shop in instagram in order to be more confident in performing 12 7,8% 46 29,9% 68 44,2% 28 18,2% 0 0,0% 154 100% 3,27 3,28 (source: data is treated, 2016) according to the results of research implied from table 2, it is known that most of the respondents have declared to get motivation in instagram because of these reasons; (1) following the trend, (2) secure enough from deception, (3) affordable product price, (4) want to be called high tech, and (5) want to be more confident in performing. overall, the average score that is gained for motivation is 3,28. therefore, it can be concluded generally that respondents have quite high motivation to do online shopping by using instagram. the research results of ting (2014) has declared that motives of using instagram are (1) information seeking by using “#” (hashtag) to search things and view online shop’s pages to obtain information about different products. (2) the self-presentation that involves the performance of the personal image that individuals wished to be perceived as by other people. (3) interpersonal communication (the activities that connect people with their friends online such as interacting with friends through the use of the comment and tag function on instagram). zhou et al. (2007) have said that motivational factor plays a key role in determining the time spent on product searching and online shopping. experiential (hedonic) shoppers always find more enjoyment in the interactive environment than in pure text environment. analysis of attitude, motivation …… (nina maharani; lufthia sevriana) 19 table 3 respondents’ response about knowledge sa a qa disa sdisa total average instagram has many competitors that sell the same product 51 33,1% 83 53,9% 17 11,0% 3 1,9% 0 0,0% 154 100% 4,18 the price of product in instagram is related with its quality 17 11,0% 91 59,1% 38 24,7% 8 5,2% 0 0,0% 154 100% 3,76 shopping in instagram can be done every time 47 30,5% 74 48,1% 32 20,8% 1 0,6% 0 0,0% 154 100% 4,08 there are many trusted online shops in instagram 18 11,7% 63 40,9% 64 41,6% 9 5,8% 0 0,0% 154 100% 3,58 instagram has many options of fashion products (clothes, shoes, bags) 49 31,8% 77 50,0% 22 14,3% 6 3,9% 0 0,0% 154 100% 4,10 instagram is easy to be operated by various groups of ages 24 15,6% 49 31,8% 42 27,3% 32 20,8% 7 4,5% 154 100% 3,33 instagram promotes other products besides fashion products (food, cosmetics, etc) 55 35,7% 65 42,2% 30 19,5% 4 2,6% 0 0,0% 154 100% 4,11 3,88 (source: data is treated, 2016) as seen from table 3, the majority of the respondents agree that instagram has many competitors that sell the same goods and the product price is related to its quality. many of them also agree that shopping in instagram can be done every time and there are many trusted online shops which regularly sell products through instagram. another factor from knowledge makes people decide to do shop more through instagram because there are various products, and it is easy to operate it. overall, the average score that is gained for knowledge factor is 3,88, and it is considered as good criteria. therefore, it can be concluded that respondents have a good knowledge by doing online shopping on instagram. table 4 respondents’ response about lifestyle sa a qa disa sdisa total average people who shop in instagram understand information technology 23 14,9% 76 49,9% 45 29,2% 10 6,5% 0 0,0% 154 100% 3,73 people who shop in instagram like new fashion 23 14,9% 74 48,1% 45 29,2% 11 7,1% 1 0,6% 154 100% 3,69 people who shop in instagram like simple things 35 22,7% 67 43,5% 47 30,5% 5 3,2% 0 0,0% 154 100% 3,86 people who shop in instagram like to socialize in cyberspace 37 24,0% 68 44,2% 39 25,3% 10 6,5% 0 0,0% 154 100% 3,86 people who shop in instagram are people who use their time efficiently 24 15,6% 65 42,2% 54 35,1% 10 6,5% 1 0,6% 154 100% 3,66 3,76 (source: data is treated, 2016) as seen from table 4, the majority of the respondents have the opinion that people who shop through instagram are people who understand the technology of information, love new fashion, like the simple things, love to socialize in cyberspace, and need its efficiency. overall, the average score gained for lifestyle is 3,76. the average score of 3,76 is included in following the trend criteria. therefore, it can be concluded that majority of the respondents who shop in instagram are the people who follow the trend of lifestyle. the results of research by elfina & fajrianthi (2010) have declared that there are differences of intention phase to buy some products through online shopping based on lifestyle 20 journal the winners, vol. 18 no. 1, march 2017: 13-23 overview. fashion lifestyle type is a consumer who uses the internet to follow the trend of lifestyle and has high intention phase to shop online and potentially buy stuff through the internet. the first step in cfa is to do feasibility test by using of kmo index and msa score for every indicator. the research result is performed in table 5. table 5 kmo and msa for every indicator factor no indicator cronbach’s alpha kmo msa conclusion attitude s1 s2 s3 s4 like to shop in instagram because the displayed product is exactly the same with the product that is bought like to shop in instagram because it doesn’t require going out of home i believe instagram is a favorite place to shop online like to shop in instagram because of various products 0,624 0,809 0,86 0,814 0,922 0,806 valid valid valid valid motivation m1 m3 m4 m6 m7 shop in instagram in order to follow the trend shop in instagram because it is secure from deception shop in instagram because product price is affordable shop in instagram in order to be called “high tech” shop in instagram in order to be more confident in performing 0,768 0,742 0,854 0,744 0,701 0,801 valid valid valid valid valid knowledge p1 p2 p3 p4 p5 p6 p7 instagram has many competitors that sell the same product the price of product in instagram is related with its quality shopping in instagram can be done every time there are many trusted online shops in instagram instagram has many options of fashion products (clothes, shoes, bags) instagram is easy to be operated by various groups of ages instagram promotes other products besides fashion product (food, cosmetics, etc) 0,768 0,86 0,853 0,779 0,859 0,831 0,825 0,786 valid valid valid valid valid valid valid lifestyle gh1 gh2 gh3 gh4 gh5 people who shop in instagram understand information technology people who shop in instagram like new fashion people who shop in instagram like simple things people who shop in instagram like to socialize in cyberspace people who shop in instagram are the people who use their time efficiently 0,668 0,73 0,792 0,805 0,666 0,838 valid valid valid valid valid (source: data is treated, 2016) analysis of attitude, motivation …… (nina maharani; lufthia sevriana) 21 based on table 5, it can be seen that kmo index gained is 0,809. because the kmo score is far beyond 0,5, it can be concluded that the overall of indicator for every online shop dimension using instagram can be processed continuously. furthermore, since the msa index for every indicator is bigger than 0,5, the whole indicators have been approved to be analyzed using factor analyze method. the number of contribution influence that is given by every dimension (group) to online shop used in instagram is seen by score of percentage (%) of variance. this is shown in table 6. table 6 percentage of variance (influence contribution from every dimension) component % of variance 1. (knowledge) 26,455% 2. (motivation) 9,631% 3. (attitude) 8,027% 4. (lifestyle) 6,136% (source: data is treated, 2016) table 6 indicates that knowledge factor is a factor which has the most dominant contribution to someone on deciding to shop through instagram. its contribution is as big as 26,455%. the second position is taken by the dimension of motivation with a contribution of 9,631%, while the third position is taken by the dimension of attitude with a contribution of 8,027%. lastly, the dimension that has the lowest contribution is the lifestyle with a contribution of 6,136%. according to shiffman & kanuk (2007), the new knowledge that is gained or the personal experiences of the consumers is used as feedback for each person and give a future attitude standard in the same situation. this matter is strengthened by sumarwan (2011) who mentioned that consumers’ knowledge had become a standard to decide what he/she will buy, how many things that he/she will buy, as well as where and when he/she buys it. when a consumer has more knowledge about the product, then he/she will be better in choosing his/her decision, and it will be more efficient and precise to process information. it will also recall the better information. from this discussion, the marketing strategies that can be applied by a seller/reseller who sells his/her products through instagram are in a segmentation classified based on the users’ age, social class, and lifestyle. the targets are consumers ranging from age 15-25 years old, middle-class women who graduated from senior high or universities, and people who follow the social media development. the products sold are fashion, electronics, and accessories with reasonable prices by using promoting method in instagram. conclusions overall, the average score that is gained for attitude is 3,95 in a like criteria zone. therefore, it can be concluded that respondents generally decide to shop using instagram. the average score that is gained for motivation is 3,28 which is considered a high enough criteria. therefore, it can be concluded that generally, motivation has a great influence on consumers to purchase some products via instagram. the average score that is gained for knowledge is 3,88 which is included in the good criteria. therefore, it can be concluded that a good knowledge is important to be considered in online shopping using instagram. the average score that is gained for lifestyle is 3,76 which is included in the following the trend criteria. therefore, it can be concluded that majority of the respondents in online shopping who are using instagram has a lifestyle which always follows the trend. the most dominant variable that has 22 journal the winners, vol. 18 no. 1, march 2017: 13-23 influenced consumers to do shopping through instagram is knowledge. other variables that have influenced the consumers’ decision are motivation, attitude, and lifestyle. in forming a marketing strategy, a seller/reseller who sells his/her products through instagram categorizes the targeting segmentation by seeing the consumers’ age, social class, and lifestyle. the seller/reseller’s targets are female consumers at 15-25 years old coming from the middle class by selling products of fashion, electronics, and accessories. the promotion is done through social media, specifically instagram. references adi, r. 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(2007). online shopping acceptance model a critical survey of consumer factors in online shopping. journal of electronic commerce research, 8(1), 41-62. microsoft word 05_ masruroh_setting.docx strategi promosi, diferensiasi .....(masruroh; winda suryadi) 141  strategi promosi, diferensiasi dan keputusan pembelian pada kepuasan pelanggan masruroh1; winda suryadi2 1,2 jurusan manajemen, fakultas ekonomi, universitas jayabaya, jln. raya bogor km.28, cimanggis, jakarta timur masruroh2000@yahoo.com abstract today every goods and services industry always tries to develop their comparative and competitive ability. therefore the company no longer only think of profits but start to pay attention to other potential sectors that is able to sustain or increase revenue hence the customers interests becomes a major concern. the case study in this research is promotion and differentiation strategy, on customer of pt indomobil trada national nissan kelapa gading. the purpose of this study is to analyze the influence of the promotion and differentiation strategies of buying decision and its impact on customer satisfaction. the method used in this study is path analysis. this research produces the structural equation y = 0.375 x1 + 0.560 x2 + 0.42 ε1 where r 2 = 82.1% and z = 0.381 x1 + 0.524 y + 0.48 ε2 where r 2 = 76.4%. promotion and differentiation strategies is effective in providing a positive influence towards buying decision, as well as promotion strategy and buying decision which has positive influence towards customer satisfaction, but differentiation does not significantly influence customer satisfaction, so we recommend pt indomobil national trada nissan kelapa gading further enhance the existing promotion strategy to enhance influence in inducing customer satisfaction. keywords: promotion strategy, differentiation, buying decision, customer satisfaction abstrak dewasa ini, setiap industri barang maupun jasa selalu berusaha untuk mengembangkan kemampuan komparatif dan kompetitifnya. oleh karena itu, perusahaan tidak lagi hanya memikirkan keuntungan semata, tetapi mulai memperhatikan sektor potensial lainnya yang dapat mempertahankan atau meningkatkan pendapatan sehingga kepentingan pelanggan pun menjadi perhatian utama. studi kasus dalam penelitian ini adalah strategi promosi dan diferensiasi, dengan studi kasus pada pelanggan pt indomobil trada nasional – nissan kelapa gading. tujuan penelitian ini adalah menganalisis pengaruh dari strategi promosi dan diferensiasi terhadap keputusan pembelian dan dampaknya terhadap kepuasan pelanggan. metode yang digunakan dalam penelitian ini adalah path analysis. penelitian ini menghasilkan persamaan struktural y = 0,375 x1 + 0,560 x2 + 0,42 ε1, di mana r 2 = 82,1% dan z = 0,381 x1 + 0,524 y + 0,48 ε2, di mana r 2 = 76,4%. strategi promosi dan diferensiasi efektif dalam memberikan pengaruh positif bagi keputusan pembelian, begitu pula dengan strategi promosi dan keputusan pembelian yang berpengaruh positif tehadap kepuasan pelanggan, tetapi diferensiasi tidak berpengaruh signifikan terhadap pembentukan kepuasan pelanggan sehingga sebaiknya pt indomobil trada nasional – nissan kelapa gading lebih meningkatkan lagi strategi promosi yang ada agar terciptanya pengaruh yang besar bagi kepuasan pelanggan. kata kunci: strategi promosi, diferensiasi, keputusan pembelian, kepuasan pelanggan 142 journal the winners, vol. 11 no. 2, september 2010: 141-150  pendahuluan persaingan semakin ketat sebagai suatu tantangan serta motivasi untuk mencapai target yang direncanakan. pada dasarnya, keberhasilan suatu perusahaan didalam memproduksi dan memasarkan produknya, sangat ditentukan oleh ketepatan strategi yang dipakai oleh perusahaan adalah penerapan kebijakan diferensiasi yang merupakan suatu usaha pembedaan yang bersifat khusus terhadap berbagai produk yang dihasilkan dan ditawarkan. salah satu perusahaan yang melakukan diferensiasi dan menggunakan beberapa strategi promosi untuk mempublikasikan produknya adalah pt indomobil trada nasional, khususnya dalam produk mobil nissan. dalam beberapa bulan terakhir ini, nissan gencar melakukan promosi, terutama pada produk livina, grand livina, livina x-gear, dan x-trail. pada beberapa atpm nissan mengalami kenaikan. di tahun 2009, penjualan nissan mencapai angka 21.500 unit, sedangkan di bulan januari 2010 saja nissan sudah mencapai angka penjualan 2.600 unit. peningkatan angka penjualan ini selain karena kegiatan promosi yang dilakukan secara baik, juga tidak terlepas dari beberapa mobil facelift. hasil modifikasi autech yang diluncurkan nmi (nissan motor indonesia) beberapa waktu lalu seperti nissan x-trail autech dan nissan serena autech. oleh karena itu, penulis tertarik untuk melakukan penelitian dalam bidang pemasaran dan diferensiasi produk. berdasarkan latar belakang masalah yang telah dikemukakan di atas, dapat diambil suatu perumusan masalah sebagai berikut (1) apakah terdapat pengaruh yang signifikan antara strategi promosi terhadap keputusan pembelian di pt indomobil trada nasional – nissan kelapa gading?, (2) apakah terdapat pengaruh yang signifikan antara diferensiasi terhadap keputusan pembelian di pt indomobil trada nasional – nissan kelapa gading?, (3) apakah terdapat pengaruh yang signifikan antara keputusan pembelian terhadap kepuasan pelanggan di pt indomobil trada nasional – nissan kelapa gading?, (3) apakah terdapat pengaruh yang signifikan antara strategi promosi dan diferensiasi terhadap keputusan pembelian di pt indomobil trada nasional – nissan kelapa gading?, dan (4) apakah terdapat pengaruh yang signifikan antara strategi promosi dan diferensiasi terhadap keputusan pembelian serta dampaknya pada kepuasan pelanggan di pt indomobil trada nasional – nissan kelapa gading?. adapun tujuan penelitian adalah untuk mengetahui apakah terdapat pengaruh yang signifikan antara strategi promosi, diferensiasi terhadap keputusan pembelian di pt indomobil trada nasional – nissan kelapa gading. selain itu, untuk mengetahui apakah terdapat pengaruh yang signifikan antara keputusan pembelian terhadap kepuasan pelanggan di pt indomobil trada nasional – nissan kelapa gading. menurut tjiptono (2008:233), strategi promosi berkaitan dengan masalah-masalah perencanaan, pelaksanaan, dan pengendalian komunikasi persuasif dengan pelanggan. strategi promosi ini biasanya untuk menentukan proporsi personal selling, iklan dan promosi penjualan. seperti halnya cravens (1991), mendefinisikan promosi sebagai inti dari kegiatan promosi, yaitu kegiatan komunikasi pemasaran yang berusaha untuk menyebarkan informasi, mempengaruhi, mengingatkan pasar sasaran agar bersedia menerima, membeli dan loyal pada produk yang ditawarkan oleh perusahaan yang bersangkutan. secara umum, bentuk-bentuk promosi memilki fungsi yang sama, tetapi bentuk-bentuk tersebut dapat dibedakan berdasarkan tugas-tugas khususnya. secara umum, bentuk-bentuk promosi memilki fungsi yang sama, tetapi bentuk-bentuk tersebut dapat dibedakan berdasarkan tugas-tugas khususnya. beberapa tugas khusus itu atau sering disebut bauran promosi (promotion mix, promotion brand, communication mix) adalah advertising/periklanan, personal selling, promosi penjualan, publisitas, dan direct marketing. menurut kertajaya (2004:12), diferensiasi adalah semua upaya untuk membedakan diri dengan pesaing lain, baik dari sisi konten, konteks, maupun infrastruktur. diferensiasi harus merupakan keunggulan strategi promosi, diferensiasi .....(masruroh; winda suryadi) 143  dibandingkan dengan pesaing. agar diferensiasi itu kokoh, harus ada inovasi. inovasi bisa macammacam, bisa inovasi produk dan layanan, inovasi strategi atau barangkali inovasi model bisnis. menurut kotler (2005:347), arti diferensiasi lebih dari sekedar penetapan posisi yang mengikat perbedaan-perbedaan rumit yang mewarnai produk itu sendiri. diferensiasi didefinisikan sebagai proses menambahkan serangkaian perbedaan yang penting dan bernilai, guna membedakan tawaran perusahaan itu dari tawaran pesaing. hingga batas-batas tertentu, semua produk dapat didiferensiasikan, tetapi tidak semua perbedaan merek itu bermakna. perbedaan itu akan lebih kuat sejauh perbedaan memenuhi kriteria berikut (1) penting, perbedaan tersebut memberikan manfaat yang sangat bernilai bagi cukup banyak pembeli; (2) khas, perbedaan tersebut diberikan melalui cara yang khas; (3) unggul, perbedaan yang unggul dibandingkan cara lain untuk memperoleh manfaat dari produk; (4) sulit dimasuki, tidak mudah untuk ditiru oleh pesaing; (5) harga terjangkau, pembeli mampu membayar perbedaan itu; dan (6) menghasilkan laba, anggapan bahwa tindakan memperkenalkan perbedaan itu akan mampu menghasilkan laba. berikut adalah elemen-elemen diferensiasi menurut kotler (2005:350), di antaranya adalah (1) diferensiasi produk bentuk, keistimewaan, kinerja, kesesuaian harga, daya tahan, keandalan, mudah diperbaiki, gaya, desain; (2) diferensiasi pelayanan kemudahan pemesanan, pengiriman, pemasangan, pelatihan pelanggan, konsultasi pelanggan, pemeliharaan dan perbaikan keramahan; (3) diferensiasi personil kemampuan, kesopanan, dapat dipercaya, dapat diandalkan, cepat tanggap, komunikasi; (4) diferensiasi saluran cakupan, keahlian, kinerja; (5) diferensiasi citra lambang, media, atmosfir, peristiwa. menurut schiffman dan kanuk dalam sumarwan (2003), keputusan adalah seleksi terhadap dua pilihan atau lebih. dengan perkataan lain, pilihan alternatif harus tersedia bagi seseorang ketika pengambilan keputusan. setiap konsumen melakukan berbagai macam keputusan tentang pencarian, pembelian, pengguanan beragam produk dan merek pada setiap periode tertentu.schiffman dan kanuk (dalam sumarwan, 2003:289), mendefinisikan suatu keputusan adalah sebagai pemilihan suatu tindakan dari 2 atau lebih pilihan alternatif. jika konsumen tidak memiliki pilihan alternative, maka itu bukan situasi pengambilan keputusan. menurut walker (dalam ali hasan, 2008:56), kepuasan pelanggan merupakan perbandingan antara produk yang dirasakan dengan yang diprediksi sebelum produk dibeli atau dikonsumsi. jika yang dirasakan konsumen melebihi dugaannya, maka konsumen akan merasa puas. sebaliknya jika yang dirasakan lebih rendah dari harapannya, maka konsumen akan merasa tidak puas. ada beberapa elemen kepuasan pelanggan menurut tjiptono (2007:354), yaitu (1) kualitas produk dan jasa. perusahaan yang ingin menerapkan program kepuasan pelanggan harus memiliki produk berkualitas dan layanan yang baik; (2) program promosi loyalitas. program ini memberikan semacam penghargaan khusus (seperti diskon, bonus, voucher, dan hadiah yang berkaitan dengan frekuensi pembelian pelanggan); (3) sistem penanganan keluhan. perusahaan harus memastikan bahwa barang atau jasa yang dihasilkan benar-benar berfungsi sebagaimana mestinya sejak awal; (4) garansi. strategy unconditional guarantees menurut hart (1998, dalam tjiptono, 2007:356) mengungkapkan bahwa garansi dibutuhkan untuk mendukung keberhasilan program kepuasan pelanggan; (5) harga. bagi pelanggan yang sensitif, biasanya harga yang murah adalah sumber kepuasan yang penting karena mereka akan mendapatkan nilai yang tinggi. namun, pelanggan yang tidak sensitif terhadap harga, akan melihat hasil jasa yang disampaikan perusahaan tersebut sesuai dengan harga yang mereka bayar; (6) kemudahan, tingkat kemudahan pelanggan dalam mengoperasikan dan mendapatkan produk perusahaan yang ditawarkan; (7) harapan, perbandingan antara harapan pelanggan dengan kinerja yang ada; dan (8) minat pembelian ulang. tempat yang peneliti tentukan adalah dealer nissan kelapa gading, jl. boulevard barat raya blok xc 8 no. 1-2, kelapa gading, jakarta utara dan di pusat perbelanjaan ataupun di mall-mall tempat nissan mengadakan pameran. objek yang diambil dari penelitian ini adalah pelanggan dealer 144 nissan k penelitia peneliti m menggun (2007:13 di mana n = juml n = jum d2 = pres b jumlah p sehingga adalah se n = 19 j sementa banyak m dengan m data yan uji norm validitas yang lay yaitu pen struktur. analisi dan di kelapa gad an ini mulai d menetapkan nakan tekni 31), dengan r a: lah sampel mlah populasi sisi (ditetapk berdasarkan populasi di a dengan me ebagai beriku 19368__ 9368. (0.1)² + jumlah min ara teknik sa metode anal melakukan u ng akan dian malitas, uji va sebelum dil s, analisis re yak untuk dil ngujian yang kedua struk is pengaru iferensiasi mode 1 a. b. ding dan pe dilakukan pa dari populas ik pengamb rumus sebag i kan 10% den n data jumlah pt indomo nggunakan r ut: ____= ___19 + 1 19368.( nimal respon ampel yang isis yang dig uji validitas alisis lebih l aliditas, uji re h lakukan ana liabilitas, an lakukan anali g dilakukan ktur tersebut d uh secara (x2) terh regression residual total el predictors: (co dependent var journ engunjung p ada bulan me si pelanggan bilan sampe ai berikut: gan tingkat k h pembelian obil trada n rumus yang a 9368___ = __ (0.01) + 1 nden yang d digunakan gunakan. an dan reliabili lanjut untuk eliabilitas, ko hasil da alisis jalur, t nalisis norma isis jalur.lan secara indiv dipecah juga simultan hadap kep tabel sumber: ha 23,674 5,151 28,825 n sum of squares nstant), diferens riable: kptsn_pem nal the winn usat perbela ei tahun 2010 n nissan, yan l menurut kepercayaan dan service nasional – n ada diperoleh _19368__ = 194.68 diambil ada adalah prob nalisis diawa itas. kemud menjawab tu olerasi, regre an pemb telah dilakuk alitas, dan an ngkah-langka idu dan peng a menjadi sub antara st putusan pe l 1 anova sub asil pengolaha anovab 2 97 99 df m siasi, promosi mbelian ners, vol. 11 anjaan ataup 0. dalam me nd didapat d taro yama 90%) yang berhas nissan kela h jumlah sam = 99,48 = 100 alah 99, dib bability samp ali pada instr dian, dari has ujuan-tujuan esi, kemudian bahasan kan beberap nalisis korel ah pengujian gujian yang b-struktur 1 d trategi pro embelian ( b-struktur 1 an data, 2010 11,837 ,053 ean square no. 2, septe pun mall m enetapkan jum ari data seku ane, yang d sil dikumpulk apa gading mpel minima 0 responden bulatkan me pling. dalam rumen peneli sil kuesioner n penelitian, n dilakukan a n pa analisis la lasi.setelah i n analisis jalu dilakukan ke dan sub-struk omosi (x1 (y) 222,917 f s ember 2010: mall tempat mlah anggota under perusa dikutip oleh kan selama adalah 1936 al untuk pene njadi 100 r m penelitian itian, yaitu k r tersebut di yaitu dengan analisis jalur ainnya yaitu itu didapat h ur dibagi me eseluruhan u ktur 2. ) ,000a sig. : 141-150  pameran. a sampel, ahaan dan h hamdi 16 bulan, 68 orang elitian ini resonden. n ini, ada kuesioner idapatkan n analisis r. u analisis hasil data njadi dua untuk dua strategi promosi, diferensiasi .....(masruroh; winda suryadi) 145  tabel 2 model summary sub-struktur 1 sumber: hasil pengolahan data, 2010 hipotesis: ho : variabel strategi promosi (x1) dan diferensiasi (x2) tidak berpengaruh secara simultan dan signifikan terhadap variabel keputusan pembelian (y). ha : variabel strategi promosi (x1) dan diferensiasi (x2) berpengaruh secara simultan dan signifikan terhadap variabel keputusan pembelian (y). dasar pengambilan keputusan: jika sig ≥ 0,05, maka ho diterima dan ha ditolak; jika sig ≤ 0,05, maka ho ditolak dan ha diterima. dari hasil uji signifikansi pada tabel 1, diperoleh nilai sig. sebesar 0.000. jika dibandingkan dengan α= 0.05, maka nilai sig lebih kecil dari α(sig ≤ α), yaitu 0.000 ≤ 0.05 yang artinya ho ditolak dan ha diterima. dapat ditarik kesimpulan bahwa strategi promosi (x1)dan diferensiasi (x2) berpengaruh secara simultan dan signifikan terhadap variabel keputusan pembelian (y) oleh sebab itu, maka pengujian secara individual dapat dilakukan. besarnya pengaruh dari variabel strategi promosi (x1) dan diferensiasi (x2) terhadap variabel keputusan pembelian (y) dapat diketahui dengan melihat r2 pada table 3.2, bahwa r2 = 0.821 = 82,1%. dan besarnya pengaruh variabel lain yang mempengaruhi nilai y diluar penelitian ini adalah sebesar 100% 82,1% = 17,9%. sementara itu besarnya koefisien jalur bagi variabel lain diluar penelitian yang mempengaruhi, dapat dihitung melalui rumus sebagai berikut: r2zxy = 0.821 ρyε1 = √ 1 – r2 yx = √ 1 – 0.821 = 0.42 berdasarkan hasil analisis pengujian jalur sub-struktur 2, pada tabel hasil koefisien jalur substruktur 2 membuktikan bahwa ada koefisien jalur yang tidak signifikan yaitu diferensiasi (x2), maka model sub-struktur 2 perlu diperbaiki melalui metode trimming, yaitu mengeluarkan variabel diferensiasi (x2) yang koefisien jalurnya tidak signifikan berdasarkan hasil analisis. kemudian, dilakukan pengujian ulang lagi, di mana variabel diferensiasi (x2) tidak diikutsertakan lagi. hasil perhitungannya adalah sebagai berikut: tabel 3 anova trimming sub-struktur 2 sumber: hasil pengolahan data, 2010 model summary ,906a ,821 ,818 ,23044 model 1 r r square adjusted r square std. error of the estimate predictors: (constant), diferensiasi, promosia. anovab 25,285 2 12,642 157,059 ,000a 7,808 97 ,080 33,092 99 regression residual total model 1 sum of squares df mean square f sig. predictors: (constant), kptsn_pembelian, promosia. dependent variable: kepuasanb. 146 journal the winners, vol. 11 no. 2, september 2010: 141-150  tabel 4 model summary trimming sub-struktur 2 sumber: hasil pengolahan data, 2010 tabel 5 coefficients trimming sub-struktur 2 sumber: hasil pengolahan data, 2010 berdasarkan hasil trimming pada tabel di atas, terlihat bahwa seluruh nilai sig dari strategi promosi (x1) dan keputusan pembelian (y) lebih kecil daripada nilai α(0.05). hal itu berarti bahwa variabel-variabel tersebut semuanya berpengaruh dan berkontribusi secara signifikan terhadap variable kepuasan pelanggan(z). besarnya pengaruh dari variabel strategi promosi (x1) dan keputusan pembelian (y) terhadap variabel kepuasan pelanggan (z) dapat diketahui dengan melihat r2 pada tabel di bawah bahwa r2 = 0.764 = 76,4%. besarnya pengaruh variabel lain yang mempengaruhi nilai z di luar penelitian ini adalah sebesar 100% 76,4% = 23,6%. sementara itu, besarnya koefisien jalur bagi variabel lain di luar penelitian yang mempengaruhi, dapat dihitung melalui rumus sebagai berikut: r2zxy = 0.764 ρyε1 = √ 1 – r2 yx = √ 1 – 0.764 = 0.48 tabel 6 hasil koefisien jalur trimming sub-struktur 2 pengaruh antar variabel koefisien jalur (beta) sig hasil pengujian koefisien determinasi koefisien jalur bagi variabel lain (ρyε1) x1 terhadap z 0,381 0,000 ha diterima 0,764 = 76,4% 0,48 y terhadap z 0,524 0,000 ha diterima sumber: hasil pengolahan data, 2010 dari hasil tersebut, didapat persamaan dan model sub-struktur 2 yang mengalami perubahan setelah dilakukan trimming, yaitu sebagai berikut: model summary ,874a ,764 ,759 ,28371 model 1 r r square adjusted r square std. error of the estimate predictors: (constant), kptsn_pembelian, promosia. coefficientsa -,156 ,192 -,812 ,419 ,487 ,126 ,381 3,879 ,000 ,561 ,105 ,524 5,339 ,000 (constant) promosi kptsn_pembelian model 1 b std. error unstandardized coefficients beta standardized coefficients t sig. dependent variable: kepuasana. strategi promosi, diferensiasi .....(masruroh; winda suryadi) 147  z = ρzx1x1 + ρzyy + ρzε2 z = 0,381 x1 + 0,524 y + 0,48 ε2 r2 = 0,764 dengan demikian, didapat diagram jalur sub-struktur 2, namun disajikan dengan nilai koefisien jalur yang telah didapat melalui analisis data sehingga model sub-struktur 2 menjadi: gambar 1 sub-struktur 2 trimming dengan koefisien jalur sumber: hasil pengolahan data, 2010 jadi, keseluruhan pengaruh kausal variabel strategi promosi (x1) dan diferensiasi (x2) terhadap keputusan pembelian (y) dan dampaknya terhadap kepuasan pelanggan (z) dapat digambarkan dalam model struktur lengkap sebagai berikut: gambar 2 struktur analisis jalur (path) lengkap dengan koefisien jalur sumber: hasil pengolahan data, 2010 kemudian, seluruh koefisien jalur dari hubungan kausal dapat diketahui pengaruh kausal langsung (pkl), pengaruh kausal tidak langsung (pktl) serta pengaruh kausal total (pkt) dari tiap-tiap variabel. hasilnya dirangkum dalam tabel berikut ini:  x1    y   x2    z  0,560  0,375  0,381 0,42 0,48 0,524 x1  x2    y    z  0,48 0,381 0,524 148 journal the winners, vol. 11 no. 2, september 2010: 141-150  tabel 7 rangkuman dekomposisi koefisien jalur pengaruh variabel pengaruh kausal langsung tidak langsung melalui variabel y total x1 terhadap y 0,375 0,375 x2 terhadap y 0,560 0,560 x1 terhadap z 0,381 0,375 x 0,524 = 0,1965 0,5775 y terhadap z 0,524 0,524 ε1 0,42 0,42 ε2 0,48 0,48 sumber: hasil pengolahan data, 2010 berdasarkan tabel di atas, dapat ditarik kesimpulan sehingga memberikan informasi secara objektif sebagai berikut. pertama, hipotesis pertama yang berbunyi “strategi promosi (x1) dan diferensiasi (x2) berkontribusi secara signifikan terhadap keputusan pembelian (y) pt indomobil trada nasional – nissan kelapa gading”. karena baik diuji secara keseluruhan ataupun secara individu, hasilnya menyatakan signifikan. kedua, hipotesis kedua yang berbunyi “strategi promosi (x1), diferensiasi (x2), dan keputusan pembelian (y) berkontribusi secara signifikan terhadap kepuasan pelanggan (z) pt indomobil trada nasional – nissan kelapa gading”. secara keseluruhan menyatakan signifikan, tetapi secara individu tidak semua variabel diterima karena berdasarkan pengujian jalur sub-struktur 2 koefisien jalur x1 terhadap z (strategi promosi terhadap kepuasan pelanggan) signifikan, sedangkan koefisien jalur x2 terhadap z (diferensiasi terhadap kepuasan pelanggan) tidak signifikan, dan koefisien jalur y terhadap z (keputusan pembelian terhadap kepuasan pelanggan) adalah signifikan. ketiga, beberapa pengaruh langsung dan tidak langsung (melalui variabel y) dan pengaruh total diuraikan sebagai berikut: pengaruh langsung variabel x1 terhadap y = 0,375 = pengaruh total pengaruh langsung variabel x2 terhadap y = 0,560 = pengaruh total pengaruh langsung variabel x1 terhadap z = 0,381 = pengaruh total pengaruh tidak langsung variabel x1 terhadap z melalui y = 0,1965 pengaruh total x1 terhadap z = 0,5775 pengaruh langsung variabel y terhadap z = 0,524 = pengaruh total implikasi hasil penelitian ini diuraikan setelah semua data telah dikumpulkan dan dianalisis lalu diketahui hasil analisisnya. berikut adalah implikasi hasil penelitian. temuan penelitian menunjukkan bahwa strategi promosi (x1) memiliki pengaruh yang signifikan dan positif terhadap keputusan pembelian (y) pelanggan nissan sebesar 0,375. ini menunjukkan bahwa strategi promosi yang dibuat oleh nissan dapat meningkatkan keputusan pembelian dari pelanggan nissan. oleh karena itu, nissan harus terus menciptakan strategi-strategi promosi yang lebih efektif dan kreatif agar dapat terus mempengaruhi konsumen untuk membeli produk nissan. temuan penelitian menunjukkan bahwa strategi promosi (x1) memiliki pengaruh yang signifikan dan positif terhadap kepuasan pelanggan (z) sebesar 0,381. hal ini menerangkan bahwa komunikasi pemasaran yang dilakukan melalui strategi promosi membuat pelanggan merasa puas atas penyampaian produk nissan. oleh karena itu, perusahaan harus terus meningkatkan strategi-strategi promosi yang efektif agar terus mampu menciptakan perasaan puas pada pelanggan. temuan penelitian menunjukkan bahwa diferensiasi (x2) memiliki pengaruh yang positif dan signifikan strategi promosi, diferensiasi .....(masruroh; winda suryadi) 149  terhadap keputusan pembelian (y) produk nissan sebesar 0,560. ini menunjukkan keunikan-keunikan yang ada pada nissan dapat lebih mempengaruhi keputusan pembelian pada pelanggan nissan sehingga perusahaan harus tetap mempertahankan dan berupaya mencari berbagai keunikan lain yang lebih inovatif dari nissan. hal ini akan menjadi ciri khas dari produk nissan, di antaranya adalah keunikan desain, bentuk dan model serta performa mesin. berdasarkan penelitian yang telah dilakukan, menunjukkan bahwa keputusan pembelian (y) pelanggan nissan berpengaruh secara signifikan dan positif terhadap kepuasan pelanggan (z) sebesar 0,524 sehingga pt indomobil trada nasional – nissan kelapa gading harus mempertahankan, memperhatikan, dan mempertimbangkan setiap tahapan keputusan pembelian yang dilakukan konsumen, agar dapat mempengaruhi tahapan keputusan tersebut sesuai dengan apa yang dibutuhkan oleh pelanggan sehingga hal ini akan membuat pelanggan merasa puas. simpulan berdasarkan hasil penelitian dan pembahasan, dapat ditarik kesimpulan sebagai berikut. pertama, strategi promosi (x1) memberikan pengaruh yang positif dan signifikan terhadap keputusan pembelian (y). kedua, diferensiasi (x2) memberikan pengaruh yang signifikan dan positif terhadap keputusan pembelian (y). ketiga, keputusan pembelian (y) memberikan pengaruh yang signifikan dan positif terhadap kepuasan pelanggan (z). keempat, strategi promosi (x1) dan diferensiasi (x2) secara bersama-sama maupun individu memberikan pengaruh yang signifikan dan positif terhadap keputusan pembelian (y). kelima, strategi promosi (x1) dan diferensiasi (x2) berpengaruh terhadap keputusan pembelian (y) serta berdampak kepada kepuasan pelanggan (z). tetapi, secara individu, variabel diferensiasi (x2) tidak berpengaruh secara signifikan terhadap kepuasan pelanggan (z). adapun saran-saran yang diberikan peneliti berkenaan dengan hasil penelitian adalah sebagai berikut. pertama, hendaknya kegiatan promosi tetap dipertahankan dan berusaha meningkatkan keefektifan strategi promosi (x1) sehingga antara tujuan dan biaya promosi menjadi optimal. kedua, menambahkan keunikan produk yang dapat membedakan antara produk nissan dengan produk pesaing yang sejenis, misalnya jika nissan yakin bahwa kualitas mesinnya handal maka seharusnya memberikan garansi yang berbeda dengan produk mobil lainnya misalkan jika standar garansi adalah 100.000 km atau 2 tahun maka nissan seharusnya lebih dari standar yang ada, misalnya 150.000 km atau 3 tahun. ketiga, sebaiknya selalu merancang suatu program promosi baru yang tidak sekedar untuk meningkatkan keputusan pembelian (y), tetapi juga dapat meningkatkan kepuasan pelanggan (z). keempat, disarankan untuk menganalisa dan mengembangkan faktor-faktor lain yang dapat mempengaruhi keputusan pembelian dan kepuasan pelanggan. daftar pustaka anonim. (2005). manajemen pemasaran, edisi kesebelas, jilid pertama, jakarta: gramedia pustaka utama. anonim. (2005). manajemen pemasaran, edisi kesebelas, jilid kedua, jakarta: pt indeks. cravens, d.w. (1991). strategic marketing, 3rd ed., usa: richard d. irwin, inc. hamdi. (2007). metode penelitian dan teori komunikasi, malang: umm press. hasan, a. (2008). marketing, yogyakarta: media pressindo. 150 journal the winners, vol. 11 no. 2, september 2010: 141-150  kertajaya, hermawan. (2004). hermawan kertajaya on branding, bandung: mizan media. sumarwan, u. (2004). perilaku konsumen, bogor: ghalia indonesia. tjiptono, f. (2008). strategi pemasaran, edisi ketiga, yogyakarta: andi. microsoft word 06_ganesha_yulia&ayhamali-the effect of leadership-a2t.docx 44   journal the winners, vol. 16 no. 1, march 2015: 44-56  the effect of leadership toward employees’ job satisfaction in quality control division of pt x padalarang yulia listianti1; arif yusuf hamali2 politeknik piksi ganesha bandung jln. jend. gatot subroto 301, bandung, jawa barat, indonesia 40274 yulialistianti@gmail.com1, arifyusufhamali@yahoo.co.id2 abstract this research was conducted at quality control division of pt x padalarang, aimed to determine correlation leadership and job satisfaction, and also to analyze the effect of leadership on job satisfaction at quality control division of pt x padalarang. respondents of this research are 52 people selected with simple random sampling technique. the method used is descriptive and associative, which tests the connection using the spearman rank correlation analysis, and also done to determine the accuracy of measurement using by the validity and reliability test. results of the validity and reliability test of variables x and y are valid and reliable. calculations were performed using spss software ver. 19. the result of this study showed that leadership is in the category of good and job satisfaction is in the category of good. results showed the correlation of leadership with job satisfaction at quality control division of pt x padalarang with correlation coefficient = 0,679. based on the criteria champion, this relationship is in the criteria of strong relationship. results of this calculation showed the coefficient of determination = 46, 10%. it showed that the hypothesis is proved, that there is an influence of leadership to job satisfaction at quality control division of pt x padalarang. keywords: leadership, job satisfaction, champion criteria abstrak penelitian ini dilakukan di divisi quality control pt x padalarang, yang bertujuan untuk menentukan korelasi antara kepemimpinan dan kepuasan kerja, dan juga untuk menganalisis pengaruh kepemimpinan terhadap kepuasan kerja di divisi quality control pt x padalarang. responden dari penelitian ini adalah 52 orang yang dipilih dengan teknik sampling acak. metode yang digunakan adalah deskriptif dan asosiatif, yang menguji koneksi menggunakan analisis the spearman rank correlation, dan juga dilakukan untuk menentukan akurasi pengukuran dengan menggunakan uji validitas dan reliabilitas. hasil uji validitas dan reliabilitas variabel x dan y adalah valid dan reliabel. perhitungan dilakukan dengan menggunakan software spss ver. 19. hasil penelitian ini menunjukkan bahwa kepemimpinan dalam kategori baik dan kepuasan kerja juga dalam kategori baik. hasil penelitian menunjukkan korelasi kepemimpinan dengan kepuasan kerja di divisi quality control pt x padalarang dengan koefisien korelasi = 0.679. berdasarkan kriteria juara, hubungan ini berada pada kriteria hubungan yang kuat. hasil perhitungan menunjukkan koefisien determinasi = 46, 10%. hal ini menunjukkan bahwa hipotesis terbukti, bahwa ada pengaruh kepemimpinan terhadap kepuasan kerja di divisi quality control pt x padalarang. kata kunci: kepemimpinan, kepuasan kerja, kriteria juara the effect of leadership …… (yulia listianti; arif yusuf hamali) 45  introduction leadership in an organization has a very important role because of its presence; there can be a process of helping and supporting the others to work hard to achieve their goal. leadership can affect the morale and job satisfaction, security, job quality and the achievement of an organization. one of the elements that differentiate between a leader and a non-leader is the ability to visualize how an organization will be developed in the future by noticing several developments happening in the environment outside of the organization. leadership contains contextual meaning such as (solihin, 2009): (1) having directing character, which is directing people who are leaded to achieve the goal; (2) having affecting character, which is a leader must be able to change the characteristic of subordinate, colleague, and even superior, by words, characteristic and action, so those parties can cooperate in the process of achieving the goal; and (3) having authority, which is the right owned by a leader to order people (subordinate) in activities related to work or task. leadership is a process of directing and affecting activity related to the work of the group member (sopiah, 2008). the dimensions that can be used to measure whether the leadership in a company effective or not consist of: (1) task function, which is related to something which must be done to choose and achieve goals rationally; and (2) maintenance function, which is related to the emotional satisfaction used to develop and maintain group, society or for existence of organization. study about job satisfaction is one of important factors in study of organizational behavior. job satisfaction is focused on employees’ character toward the work which contains three important dimensions (kondalkar, 2007): (1) job satisfaction can be measured through emotional response on situation that cannot be seen but can be predicted; (2) job satisfaction is related to reward or hope expected by employees; (3) job satisfaction related to job condition, such as workload, remuneration, attitude toward subordinate, and opportunity for improvement. basically job satisfaction reflects someone’s feeling toward the work, shown from employees’ positive character toward the job and all things faced in work environment. satisfied employees like their work situation more than unsatisfied employees, who do not like it. job satisfaction can be defined as character (positive) of employees on their work, which is appeared based on assessment on the work situation. satisfied employees like their work situation more than unsatisfied employees who do not like their work situation (umam, 2012). the dimensions that can be used to measure whether the leadership in a company effective or not consist of fair salary/reward, supporting work condition and work relationship. previous researches stated that leadership affected job satisfaction positively and significantly (ruvendi, 2005; kaihatu dan rini, 2007; darwito, 2008; lahar, 2008; purnomo dan cholil, 2010; baihaqi, 2010; nugraha, 2011; wilar, 2011; fadli, dkk, 2012; pratama, 2012; djestawana, 2012; nurfaiyah dan damajanti, 2012; siregar, 2012; alam, 2013; kristian, 2013). previous research from lasya (2013) and saputra (2013) stated that leadership did not affect job satisfaction directly and significantly. quality control division of pt x padalarang is a company moved in textile industry, located in industry sector batujajar permai, padalarang, jawa barat. phenomena of leadership happened in quality control division of pt x padalarang is that existing leader has not perform the function of leadership effectively. the existing leader is considered as not being able to perform the tasks of leadership well in building work relationship with the subordinates. that phenomenon can be seen explicitly in table 1. 46   journal the winners, vol. 16 no. 1, march 2015: 44-56  table 1 opinion of 30 employees in quality control division of pt x padalarang about leadership no. employees’ opinion opinion (yes) opinion (no) 1. 2. 3. 4. leader gives direction for employees in work leader encourages employees leader create harmony work situation leader can lessen tension or conflict - - - - √ √ √ √ source: the result of initial interview in quality control division of pt x padalarang (2014) the phenomenon of job satisfaction happened in quality control division of pt x padalarang is employees, in general, feel unsatisfied in working. the job dissatisfaction experienced by employees can be seen in table 2. table 2 opinion of 30 employees in quality control division of pt x padalarang about job satisfaction no. employees’ opinion opinion (satisfied) opinion (unsatisfied) 1. 2. 3. 4. employees’ job satisfaction toward the work facility employees’ job satisfaction toward work relation between subordinate and leader employees’ job satisfaction toward direction from leader in work employees’ job satisfaction toward the incentive allowance - - - - √ √ √ √ source: the result of initial interview in quality control division of pt x padalarang (2014) based on the explanation and data, the problem studied can be formulated. first, it is how the relationship between leadership and employees’ job satisfaction in quality control division of pt x padalarang is. second, whether there is significant effect of leadership on job satisfaction in quality control division of pt x padalarang. the goal of this research is to find out the relationship between leadership and employees’ job satisfaction in quality control division of pt x padalarang. moreover, this research aims to find out whether there is a significant effect of leadership on job satisfaction in quality control division of pt x padalarang. leadership managerial leadership is defined as a process of directing and affecting activity related to the task of group member (sopiah, 2008). three important implications in leadership are: (1) leadership must involve other people, that are subordinate; (2) leadership covers the distribution of different authority between leader and subordinate; and (3) leader other than legally can give order or direction to the subordinates, also must affect the subordinates with many ways. the dimensions of leadership according to sopiah (2008) consist of: (1) task function, is a function related to something that must be done to choose and achieve goals rationally. the indicators of task function analyzed in this research are leader’s ability to encourage subordinate, leader’s ability to delegate order or authority to subordinate, leader’s ability to achieve target delegated by the highest leader; and leader’s ability to make job description. (2) maintenance function is a function related to the emotional satisfaction which is needed to develop and maintain group, society or for organization’s existence. the indicators analyzed in this research are: leader’s ability to lessen tension the effect of leadership …… (yulia listianti; arif yusuf hamali) 47  in workplace, leader’s ability to monitor employees’ performance, leader’s ability to give direction to subordinate, leader’s ability to set job standard, leader’s ability to create harmony; and leader’s ability to solve problem. job satisfaction job satisfaction is defined as the character (positive) of employees on their work, appeared based on assessment on the work situation (umam, 2012). there are two important elements in job satisfaction: the value of job and basic needs. the values of job are the goals which are achieved in doing work. the value that is wanted to be achieved is the values considered as important by individual. umam (2012) states there are factors affecting employees’ satisfaction and dissatisfaction in working, like: (1) fair salary/reward. the indicators analyzed in this research are: employees’ job satisfaction toward salary according to workload, employees’ job satisfaction toward positional allowance, employees’ job satisfaction toward salary according to position; and employees’ job satisfaction toward salary according to achievement. (2) supporting work condition. the indicators analyzed in this research are employees’ job satisfaction toward facility, employees’ job satisfaction toward direction from leader, and employees’ job satisfaction toward workspace. (3) work relationship. the indicators analyzed in this research are: employees’ job satisfaction toward work relationship between leader and subordinate, employees’ job satisfaction toward work relationship between leaders, and employees’ job satisfaction toward work relationship between subordinates. framework the framework of this research can be seen in figure 1 independent variable (x) dependent variable (y) figure 1 framework hypothesis based on analysis that has been stated, the research hypothesis can be formulated as it is predicted that leadership affect employees’ job satisfaction significantly in quality control division of pt x padalarang. method research method used in this research is descriptive and associative. descriptive research basically is a process of generalization of a research result based on one sample and its research variable is independent, so the hypothesis is not in form of comparison or the relation between two variables or more (sugiyono, 2006). associative research aims to analyze the relation between leadership (x): task function maintenance function job satisfaction (y): fair salary/reward supporting work condition work relationship 48   journal the winners, vol. 16 no. 1, march 2015: 44-56  variables in population through the variable relation data in sample, and the hypothesis is to test the existing correlation coefficient in sample to be applied to all samples taken (sugiyono, 2006). population is generalization of territory consisting of object/subject that have particular quality and characteristic as set by researcher to be studied, and then will be concluded (sugiyono, 2006). population of this research is employees in quality control division of pt x padalarang about 107 people. the sample is the amount and characteristic owned by that population (sugiyono, 2006). the determination of sample uses slovin’s formula in this research, as following: n n 1 n e 2 (1) description: n = the size of sample n = the size of population e = the percent of inaccuracy due to mistake in taking sample that can be tolerated, taken= 10% n 107 1 107 0.1 2 (2) 107 1 1,07 51,69 rounded to 52 people the technique of sampling chosen is simple random sampling, which is a simple random technique because the sampling is done randomly without paying attention to the level in that population, and this is done if the population is considered homogeny (sugiyono, 2006). data used in this research is primary source data and secondary data. primary data is collection of data done directly to the analyzed object to get the answer from the respondents. secondary data is data obtained from company, literature, and other information which are considered relevant and supporting the research. method used to collect data is a closed system questionnaire, which means for each question it is provided with the answers. questionnaire used in this research is likert scale. the scale is made by gradation from strongly disagree (score=1) to strongly agree (score=5). analysis taken in this research is descriptive and associative. descriptive analysis uses weighting analysis, and to find the standard weight value can be done by finding the length of weight range. the standard weight value can be determined by finding the length of weight range from five classifications, as following: r the highest score x the amount of sample the lowest score x amount of sample 5 (3) r = the range of classification r r = 42 the effect of leadership …… (yulia listianti; arif yusuf hamali) 49  the weighting is divided into five levels based on its classification, started from the lowest level t the highest level with weight range 42. the classification of standard weight value is generated in table 3. table 3 the standard weight value weight value category 52 – 93 worst 94 – 135 worse 136 – 177 enough 178 – 219 good 220 261 best source: the result of processing primary data associative analysis is done to see how the effect of independent variable and dependent variable, in his case, the effect of leadership (x) toward job satisfaction (y), by using spearman’s rank formula as following: 1 6∑ (4) r1 = correlation analysis di = difference of two variable n = size of sample the test of correlation coefficient is done to find out the truth of hypothesis presented in this research by using t-test formula: 2 1 (5) r = correlation coefficient n = size of sample t-test is done to prove that leadership variable (independent variable) affects job satisfaction (y variable) significantly, with provision as following: if tcount > ttable,, then leadership affects job satisfaction significantly, or ho is rejected and h1 is accepted. if tcount < ttable,, then leadership does not affect job satisfaction significantly, or ho is accepted and h1 is rejected. 50   journal the winners, vol. 16 no. 1, march 2015: 44-56  the calculation in data analysis in this research uses spss software version 19. the next step is analyzing the correlation to see the effect of leadership on employees’ job satisfaction by using coefficient of determination with this formula: x 100% (6) correlation or cohesion of the relation between free variable and bound variable is classified by riduwan and kuncoro (2007) table 4 interpreting correlation coefficient of r value coefficient interval level of relation 0,80 – 1,000 very strong 0,60 – 0,799 strong 0,40 – 0,599 strong enough 0,20 – 0,399 weak 0,00 – 0,199 very weak source: riduwan and kuncoro (2007) results and discussion validity test on research instrument the result of validity test on x instrument variable is leadership and y variable is job satisfaction stating all is valid, based on the criteria if correlation coefficient or r count > 0,3 with significance degree 5% (α=5%), then the statement is valid. the result of validity test on leadership variable and job satisfaction variable is shown in table 5 and 6. table 5 validity test for leadership variable (x) question r count description ability to make job description ability to achieve target for the highest leader ability to delegate order to subordinate ability to encourage subordinate ability to give direction to subordinate ability to keep work culture ability to create harmony work atmosphere ability to lessen tension or conflict ability to solve problem ability to evaluate subordinate’s performance 0,603 0,632 0.804 0,780 0,838 0,663 0,790 0,640 0,799 0,750 valid valid valid valid valid valid valid valid valid valid source: the result of processing primary data (2014) the effect of leadership …… (yulia listianti; arif yusuf hamali) 51  table 6 the result of validity test on job satisfaction variable question r count description job satisfaction toward positional allowance 0,631 valid job satisfaction toward punctuality of payment 0,734 valid job satisfaction toward salary according to work period 0,680 valid job satisfaction toward salary according to workload 0,703 valid job satisfaction toward workspace 0,553 valid job satisfaction toward direction from leader 0,664 valid job satisfaction toward facility 0,642 valid job satisfaction toward work relationship between subordinates 0,607 valid job satisfaction toward work relationship with leaders 0,538 valid job satisfaction toward work relationship between leaders 0,549 valid source: the result of processing primary data (2014) reliability test on research instrument the result of reliability test on x instrument variable is leadership and y variable is job satisfaction stating all is reliable, based on the assessment criteria on coefficient α – cronbach, if > 0,7 is categorized reliable. the result of reliability test on leadership variable and job satisfaction variable is shown in table 7 and 8. table 7 the result of reliability test on leadership variable reliability statistics cronbach's alpha n of items .901 10 source: the result of processing primary data (2014) table 8 the result of reliability test on job satisfaction variable reliability statistics cronbach's alpha n of items .831 10 source: the result of processing primary data (2014) descriptive analysis the average descriptive result on respondents’ opinion about leadership variable in quality control division of pt x padalarang is in table 9. 52   journal the winners, vol. 16 no. 1, march 2015: 44-56  table 9 respondents’ opinion about leadership variable no dimension indicator response weight average weight 5 4 3 2 1 1 ability to make job description 19 32 1 0 0 226 212 task function ability to achieve target for the highest leader 9 39 4 0 0 213 ability to delegate order to subordinate 7 35 10 0 0 205 ability to encourage subordinate 4 38 10 0 0 202 2 ability to give direction to subordinate 5 35 11 1 0 200 201 ability to keep work culture 2 26 23 1 0 185 maintenance function ability to create harmony work atmosphere 9 35 7 1 0 208 ability to lessen tension or conflict 5 40 7 0 0 206 ability to solve problem 4 41 6 1 0 204 ability to evaluate subordinate’s performance 2 43 7 0 0 203 average 206 source: the result of processing primary data (2014) the average descriptive result on respondents’ opinion about job satisfaction variable in quality control division of pt x padalarang is in table 10. table 10 respondents’ opinion about job satisfaction variable no dimension indicator response weight average weight 5 4 3 2 1 1 job satisfaction toward positional allowance 3 27 20 2 0 187 197 fair salary/reward job satisfaction toward punctuality of payment 8 29 13 2 0 199 job satisfaction toward salary according to work period 8 33 9 2 0 203 job satisfaction toward salary according to workload 6 31 14 1 0 198 2 supporting work situation job satisfaction toward workspace 14 35 3 0 0 219 213 job satisfaction toward direction from leader 10 36 6 0 0 212 work relationship job satisfaction toward facility 6 39 7 0 0 207 3 job satisfaction toward work relationship between subordinates 7 36 9 0 0 206 202 job satisfaction toward work relationship with leaders 2 26 24 0 0 186 job satisfaction toward work relationship between leaders 12 34 5 1 0 213 average 204 source: the result of processing primary data (2014) the effect of leadership …… (yulia listianti; arif yusuf hamali) 53  associative analysis the effect of leadership toward employees’ job satisfaction in quality control of pt x padalarang can be seen by using spearman’s rank correlation analysis. the result of correlation analysis by using spss software version 19, with r value = 0,679 is shown in table 11. table 11 correlation analysis (nonparametric correlations) correlations leadership job satisfaction spearman's rank leadership correlation coefficient 1.000 .679** sig. (2-tailed) . .000 n 52 52 job satisfaction correlation coefficient .679** 1.000 sig. (2-tailed) .000 . n 52 52 **. correlation is significant at the 0.01 level (2-tailed). source: the result of processing primary data (2014) the result of spss in table 11 shows that the result is significant on significance level α = 5% (sig. value (2-tailed = 0,000 is smaller than 5%), which means there is an effect of leadership toward job satisfaction significantly in quality control division of pt x padalarang. the hypothesis test is done to find out the truth of hypothesis presented in this research by using t-test, as following: 2 1 (7) where: r = 0,679 n = 52 so: 52 2 1 0,679 , t = 6,540 the value of that t count is compared to t table, based on the table of distribution that t for db = 52-2 = 50, α = 0,05. for the test of two parties, it is obtained t = 2,009. the calculation shows the value of t count is bigger than value of t table which is 6,540>2,009, then ho is rejected and ha is accepted. therefore, the hypothesis presented in this research is right, which is leadership affects employees’ job satisfaction significantly in quality control division of pt x padalarang. next is to find out the relation level, based on the criteria in table 11, with r value = 0,679, then this relation is in strong relation criteria. from this result r = 0,679, it is to state the dimension of x variable (leadership) toward y variable (job satisfaction), determined by coefficient of determination, as following: 54   journal the winners, vol. 16 no. 1, march 2015: 44-56  cd = r2 x 100% = (0,679)2 x 100% = 46,10% based on the calculation, with 46,10 %, it means this research shows leadership affects job satisfaction about 46,10%, while the rest about 53,90% is affected by other factors that are not analyzed in this research. conclusion according to the result of the research and explanation, it can be concluded that there is a significant correlation between leadership and job satisfaction in quality control division of pt x padalarang with correlation coefficient r = 0,679. based on the champion criteria with r value – 0, 679, this relation is categorized as strong. from the coefficient of determination, it is obtained r2 = 0,4610, which means leadership affects job satisfaction about 46,10%, while the rest about 53,90% is affected by other factors that are not analyzed in this research. the result of hypothesis test using t-test shows value of t count is bigger than value of t table (6,540>2,009), thus ho is rejected and ha is accepted. those results approve the hypothesis in this research that there is positive effect of leadership toward employees’ job satisfaction in quality control division of pt x padalarang. the suggestions that can be given in this research to the management of pt x padalarang are, first, the existing leader should give clear direction to the employees so they can do their task well. second, the existing leader should seek ways to keep working culture to improve employees’ achievement. third, the existing leader should move fast in solving the employees’ problem in work and be cooperative in hearing aspirations from employees, to create good and conducive relation between leader and subordinate. fourth, the existing leader should give positional allowance which has not been given to employees, and apply policy to give salary in accordance to the severity of task loaded for employees. managerial implication the management of pt x padalarang should do more efforts to improve the quality of managers or supervisors, so they can perform the role and function of leadership more effectively and optimally in company. the efforts that can be done are engaging the leaders of company in manager and supervisor level in leadership training and equipping them with emotional and spiritual quotient, hold by internal company and other institutions. the existing leader should formulate again the policies related to employees’ welfare to achieve their job satisfaction during working in company. research limitation the limitation of this research, considering the result, shows leadership affects job satisfaction about 46, 10% while the rest 53, 90% is affected by other factors, then for the future researchers, they can do a research by adding different free variable (x), like compensation and promotion that can affect employees’ job satisfaction. the measurement for leadership and job satisfaction variable can be measured from the respondents’ perception about their superior’s leadership and their own job satisfaction, so the answer can be biased because those employees tend to evaluate subjectively. for future research, it is expected that the measurement of leadership and job satisfaction variable can use questionnaire that is not only for employees as the respondents, but also for leader or direct superior from the related respondents. the effect of leadership …… (yulia listianti; arif yusuf hamali) 55  references   alam, t.m. 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(2011). pengaruh gaya kepemimpinan transformasional pada stres kerja dan kepuasan kerja karyawan bank of tokyo – mitsubishi ufj cabang jakarta. tesis. yogyakarta: program studi magister manajemen fakultas ekonomika dan bisnis universitas gadjah mada.  *corresponding author p-issn: 1412-1212 e-issn: 2541-2388 39 the winners, 22(1), march 2021, 39-45 doi: 10.21512/tw.v22i1.6987 the effect of need for achievement, locus of control and attitudes towards student entrepreneurial intentions in smkn 1 batang hari herry sofyandy pranata1*; khairinal2; denny denmar3 1,2,3 department of economics education, graduate program, university of jambi jl. raya jambi muara bulian no. km. 15, mendalo darat, jambi 36122, indonesia 1herrysofyabdy@gmail.com; 2khairinal@unja.ac.id; 3dennydenmar@unja.ac.id received: 23rd january 2021/ revised: 06th march 2021/ accepted: 12th march 2021 how to cite: pranata, h. s., khairinal., & denmar, d. (2021). the effect of need for achievement, locus of control, and attitudes towards student entrepreneurial intentions in smkn 1 batang hari. the winners, 22(1), 39-45. https://doi.org/10.21512/tw.v22i1.6987 abstract high unemployment rate, especially from smk graduates, and the lack of entrepreneurship in indonesia have prompted many parties to find out solutions. it is very important in fostering graduates who are ready to become entrepreneurs. the research aimed to investigate the influence of need for achievement, locus of control, and attitudes toward entrepreneurial intentions of students of smk negeri 1 batang hari. data analysis method used path analysis in which multiple regression models were tested with classical assumptions to determine the appropriate analysis model. the classical assumption test included: normality test using the one-sample kolmogorov-smirnov test, homoscedasticity test using the spearman’s rho test, and linearity test using the lack of fit test and the multicollinearity test. with a sample of 175 class-xi students of all majors at smkn 1 batang hari, the result shows that there is an influence of need for achievement, locus of control, and attitudes toward students’ entrepreneurial intention at smk negeri 1 batang hari. keywords: need for achievement, locus of control, locus of attitudes, entrepreneurial intention i. introduction indonesia has the largest population, placed in the world’s fourth rank after china, india, and america. the ministry of home affairs through the directorate general of population and civil registration has released indonesian population data based on data for the first semester of january 2020. the total population of indonesia as of 30 june is 268.583.016. indonesia has a large population, so the country needs a large workforce to support its economic activities. in fact, according to data released by badan pusat statistik (statistics indonesia) as of february 2020, regarding the open unemployment rate based on the highest education completed, vocational high school (smk) graduates experienced the most unemployment reaching 8,49%. an elementary school graduate has unemployment reaching 2,64%, while junior high school graduates experience an unemployment rate of 5,02%. high school graduates experience an unemployment rate of 6,77%. diploma and university graduates reached 6,76% and 5,73%. the slowdown in indonesia's economy is seen as a factor in the increasing number of domestic unemployment. this unemployment rate is dominated by academic unemployment. the high unemployment rate and the lack of entrepreneurship in indonesia have prompted many parties to find solutions. unemployment is a complex problem as it causes poverty, crime, declining health and low education. vocational high school (sekolah menengah kejuruan/smk) is a formal school under the ministry of education and culture of the republic of indonesia which aims to train graduates who are ready to work independently as entrepreneurs. considering the average age of students in the production stage who want to receive science and technology including entrepreneurship, it is very important in fostering graduates of vocational schools who are ready to become entrepreneurs. the ministry of national education states that one of the efforts made by the government to create jobs is through an entrepreneurial encouragement. meanwhile, according to rahayu (2018), entrepreneurial intention is an individual’s intention to take entrepreneurial actions and develop 40 the winners, vol. 22 no. 1 march 2021, 39-45 their business. intentions play a unique role in guiding actions, linking deep thoughts that people believe and want with specific actions (wijaya et al., 2015). learning entrepreneurship in vocational high school can foster entrepreneurial intentions. the entrepreneurial encouragement that is formed is expected to increase the entrepreneurial intention of students. the development of entrepreneurial attitudes of vocational school students needs to be supported by skills that prioritize work skills, independence and entrepreneurship so they are able to professionally compete in real jobs. vocational school students must have a strong desire to become entrepreneurs, which will have an impact on opening up more job opportunities. all students from class xi to class xii can take part in entrepreneurship learning at vocational school with the hope that the entrepreneurial encouragement is established through learning. smk negeri 1 batang hari is one of the vocational schools in batang hari with six expertise programs, namely the expertise program in accounting, multimedia, marketing, catering, computer engineering, and offices to foster students' entrepreneurial encouragement by organizing entrepreneurship learning through classroom learning and entrepreneurial practice. students at smk negeri 1 batang hari are introduced and taught entrepreneurship training from class xi to class xii. they are given the opportunity to carry out entrepreneurial activities through school cooperatives and sales practices individually or in groups so that the learning activities are expected to form entrepreneurial intentions after graduation. in fact, what happens is that the learning activities only form the mindset to get jobs at companies, not to create their own jobs. it happens because during the internship practice at smk negeri 1, students are assigned to work at retail stores, not small and medium enterprises (smes). entrepreneurship is an effective way to overcome the imbalance between the workforce and the available jobs. however, the current entrepreneurial intention of smk negeri 1 batang hari students occurs to be low. in the initial survey conducted on 30 class xi students of smkn 1 batang hari, it is known that there are only three students who want to become entrepreneurs after graduating, while 20 students plan to go to college and seven other students want to apply for jobs. therefore, entrepreneurship education cannot be considered as an absolute guarantee that a student will establish a business. chrismardani (2016) states that behavioral attitudes are the basis for forming intentions. ma’rifah (2019) points out that entrepreneurial attitude is an aspect that must be shaped in the educational process to determine future careers. an entrepreneurial attitude allows one to see opportunities, have responsibility and have the courage to make all decisions. the indicators that determine a person's entrepreneurial attitude are: (1) interest in business opportunities; (2) creative thinking, (3) positive attitude towards business failure, (4) leadership skills and a sense of responsibility, and (5) ability to deal with risks and challenges. intention is influenced by several factors, including need for achievement and locus of control. these two factors are both psychological driving factors and strong characteristics known as factors that influence entrepreneurial behavior. need for achievement is a strong urge or desire from individuals to carry out tasks in accordance with predetermined success criteria (ermawati, soesilowati, & prasetyo, 2017). untu and widjaja (2019) find out that need for achievement is a positive predictor of entrepreneurial intention. similarly, handaru, parimita, and mufdhalifah (2015) come up with a result where the need for achievement variable shows a t-count of 2,104 and a significance value of 0,038. this shows that t-count> t-table and the significance value is smaller than 0,05. that is, h0 is rejected and ha is accepted. thus, need for achievement has a positive and significant effect on entrepreneurial intentions. locus of control is one of the personality variables, which is defined as an individual's belief in their ability to control their own destiny (musdalifah & baharuddin, 2015). murni (2017) finds that there is a positive relationship between internal locus of control and entrepreneurial intentions, where the p-value of 0,000 is smaller than 0,05 indicating that the relationship between internal locus of control and entrepreneurial intention is significant. higher internal locus of control leads to a higher entrepreneurial intention, and vice versa. blegur and handoyo (2020) obtain similar result showing that t-statistical value is 5,054 and p-value is 0,000, which means that locus of control has a positive and significant effect on entrepreneurial intentions. the problems examined in the research are: (1) does need for achievement affect students’ entrepreneurial attitudes in smkn 1 batang hari? (2) does locus of control affect students’ entrepreneurial attitudes in smkn 1 batang hari? (3) does need for achievement have a direct effect on students’ entrepreneurial intentions in smkn 1 batang hari? (4) does locus of control have a direct effect on students’ entrepreneurial intentions in smkn 1 batang hari? (5) does the entrepreneurial attitude affect the students’ entrepreneurial intention in smkn 1 batang hari? (6) does need for achievement by mediating entrepreneurial attitudes have an effect about students’ entrepreneurial intentions in smkn 1 batang hari? (7) does the locus of control with the mediation of entrepreneurial attitudes affect the students’ entrepreneurial intention in smkn 1 batang hari? ii. methods this is a quantitative research, in which the methods are based on a specific population or sample collected using research tools. data analysis is quantitative or statistical in nature, with the aim 41the effect of need for achievement.... (herry sofyandy pranata, et al.) of testing predetermined hypotheses to test specific populations and samples, and analyze the statistical data (fitria & sudarmadi, 2019; aulia & yulianti, 2019). the population in the research are 313 students of class xi at smkn 1 batang hari. there are 175 students taken as research subjects using purposive sampling technique with certain considerations. the instrument measurement scale uses a likert scale with five levels: (1) score of 5 for ‘strongly agree’, (2) score of 4 for ‘agree’, (3) score of 3 for ‘doubt/ neutral’, (4) score of 2 for ‘disagree’, and (5) score of 1 for ‘strongly disagree’. data collection method is a technique to collect data which will be used to obtain material and information related to the research (imron, 2019). the research uses an online questionnaire through google forms distributed to students of class xi in smkn 1 batang hari by first being tested on a research trial sample to determine its validity and reliability. purposive sampling technique is used to determine the sample in each class. the criteria for respondents are: 1) classes that have implemented the entrepreneurship course curriculum, 2) students who have studied entrepreneurship, and 3) students who have graduated studying entrepreneurship. there are nine classes at smkn 1 batang hari, which are accounting 1, accounting 2, multimedia, marketing 1, marketing 2, catering, computer and network engineering, office 1 and office 2. to determine the number of samples according to the existing criteria, the following formula is used: ni= ni x n (1) n information: ni = number of samples according to strata n = total population ni = total population according to strata n = total sample size based on the formula, the calculation of sample proportion from representatives of each study program is shown in table 1. table 1 calculation of sample proportion from representatives of each study program study program total students calculation of amount samples accounting 70 70/313×175 39 multimedia 34 34/313×175 19 marketing 70 70/313×175 39 cullinary art 34 34/313×175 19 computer and network engineering 35 35/313×175 20 offices 70 70/315×176 39 total 175 the validity test is performed using the pearson product-moment correlation test. if the correlation results with the total score of each variable ≥ 0,30, the instrument is declared valid. reliability test is conducted using cronbach alpha. if the alpha value is ≥ 0,70, it is said to be reliable. path analysis is an extension of multiple linear regression analysis. path analysis uses regression analysis to estimate causal relationships between predetermined variables based on theory (accidental models) aiming to know the direct or indirect effect of a set of independent variables on the dependent variable (arifin, 2018). according to patanduk et al. (2019), direct effect is the effect of one independent variable on the dependent variable without going through other variables. the direct and indirect effects can be seen as: 1) direct effect is the results of x1 x2 and x3 against y, and 2) indirect effect is the indirect result, where x is against y. the equation is provided: sub-structure 1: z = a1 + β1x1 + β2x2 + e (2) sub-structure 2: y = a2 + β1x1 + β2x2 + β3z + e (3) where: x1 = need for achievement, x2 = locus of control, z = entrepreneurial attitude y = entrepreneurial intention. α1, α2 = constant; β1, β2, β3 = regression coefficient e = error. z these are the intervening variables to determine the effect of need for achievement, locus of control indirectly on employee performance. to test the effect of the intervening variables, the path analysis method is used. multiple regression models must be tested with classical assumptions to determine the appropriate analysis model. the classical assumption test includes: 1) normality test using the one-sample kolmogorov-smirnov test, 2) homoscedasticity test using the spearman’s rho test, and 3) linearity test using the lack-of-fit test and the multicollinearity test by looking at the tolerance or variance inflation factor (vif) results. if the tolerance is greater than 0,10 or the vif is less than 10, multicollinearity does not occur. to simplify the analysis, the research uses a multi-variate analysis application with the ibm spss 21.0. iii. results and discussions the validity of the instrument based on the pearson product-moment correlation test shows that the need for achievement variable consisting of 11 questions, locus of control consisting of 11 questions, entrepreneurial attitude with 9 questions and 42 the winners, vol. 22 no. 1 march 2021, 39-45 entrepreneurial intention with 9 questions are declared valid all of them since the correlation coefficients are all above 0,30. meanwhile, the reliability test results show that: 1) the need for achievement instrument is 0,891 with n of 11 items, 2) locus of control is 0,935 with n of 11 items, 3) entrepreneurial attitude is 0,908 with n of 9 items, and 4) entrepreneurial intention is 0,917 with n of 9 items. therefore, all cronbach alpha values are greater than 0,70 which indicates that the need for achievement, locus of control, entrepreneurial attitude, and entrepreneurial intention are all reliable. as seen in table 2, the classical assumption test based on the output of spss 21 with one-sample kolmogorov-smirnov test shows that the sig. is greater than 0,05, thus it occurs that the need for achievement variable, locus of control variable, entrepreneurial attitude and entrepreneurial intention variables are normally distributed. table 2 data normality test results unstandardized residual n 175 normal parametersa.b mean 0,0000000 std. deviation 1,52300835 most extreme differences absolute 0,067 positive 0,067 test statistic 0,67 asymp.sig.(2-tailed) 0,200c a. test distribution is normal b. calculated from data c. lilliefors significance correction. the relationship between need for achievement, locus of control, and entrepreneurial attitudes towards entrepreneurial intentions is linear. the lack-of-fit test finds that the sig. of need for achievement is 0,223, locus of control is 0,988, the entrepreneurial attitude is 0,574. they are all greater than 0,05. the output of spss 25 is shown in table 3. table 3 linearity test results variabel explanation sig. need for achievement deviation from linearity 0,233 locus of control deviation from linearity 0,988 entrepreneurial attitude deviation from linearity 0,574 the multicollinearity test results in table 4 do not show multicollinearity since the tolerance results are all greater than 0,10. besides, the vif results are all smaller than 10, as shown in table 5. based on the results of the spss 25 output, the regression equation can be determined as: y = 0,269 x1 + 0,525 x2 + e (4) z = 0,236 x1 + 0,484 x2 + 0,212y therefore, the path coefficient, the indirect effect, and the total effect can be summarized as shown in table 5. first, the discussion starts with the influence of need for achievement on entrepreneurship attitudes at smkn 1 batang hari. the research has hypothesis 1 (h1), which is: need for achievement has a positive and significant effect on entrepreneurial attitudes at table 4 multicollinearity test results coefficientsa model collinearity tolerance statistics vif 1 need for achievement 0,239 4,180 locus of control 0,214 4,680 entrepreneurship attitudes 0,408 2,453 a.dependent variable: the intention of entrepreneurship table 5 summary of path coefficients variabel path coefficients influence total direct indirect x1 – y 0,269 0,269 0,269 x2 – y 0,525 0,525 0,525 x1 z 0,236 0,236 0,062 0,298 x2 z 0,484 0,484 0,102 0,586 y – z 0,212 0,212 0,212 ↋1 0,408 0,408 0,408 ↋1 0,240 0,240 0,240 43the effect of need for achievement.... (herry sofyandy pranata, et al.) smkn 1 batang hari. the results of the spss 25 output are related to the f-test and the t-test to determine the effect of need for achievement on entrepreneurship attitudes, which are provided in table 5 and table 6. based on table 7, sig. t of need for achievement is 0,006. it is less than 0,05, which means that the regression coefficient is significant. to test whether the contribution of the relationship between need for achievement to entrepreneurship attitudes is significant, the f-test is used which is shown in table 5, where the value of f = 124,966 with sig. 0,006. with a significance value less than 0,05. it is considered that need for achievement has a significant and positive influence on entrepreneurial attitudes since the regression coefficient is positive, thus h1 is proven or accepted. the second discussion is on influence of locus of control on entrepreneurship attitudes at smkn 1 batang hari. hypothesis 2 (h2) is: locus of control has a positive and significant effect on students’ entrepreneurial attitudes at smkn 1 batang hari in gianyar regency. the results of the spss 25 output are related to the f-test and the t-test to determine the effect of locus of control on entrepreneurship attitudes, which are provided in table 6 and table 7. based on table 7, sig. t for locus of control is 0,000. it occurs to be less than 0,05, which means the regression coefficient is significant. as seen in table 6, f-test is used where the value of f = 124,966 with sig. 0,000. with a significance value less than 0,05 and positive regression coefficient, it is found that locus of control has a significant and positive influence on entrepreneurial attitudes. the research proves that if the given locus of control is improved, the entrepreneurial attitude will increase. hence, h2 is accepted. hypothesis 3 (h3) of the research is: direct need for achievement has a positive and significant effect on entrepreneurial intentions at smkn 1 batang hari. the results of the spss 25 output are related to the f-test and the t-test to determine the effect of entrepreneurial attitudes on entrepreneurial intentions, as provided in table 8 and table 9. table 9 shows that sig. t of need for achievement is 0,002, which means that the regression coefficient is significant. as seen in table 8, the f-test finds that the value of f is 180,828 with sig. 0,000. with a significance value less than 0,05, it is found that need for achievement has a significant and positive influence on entrepreneurial intention, thus h3 is accepted. next, the research has hypothesis 4 (h4), which is: locus of control has a positive and significant table 6 f-test results for x1, x2, z anovaa model sum of squares df mean square f sig. 1 regression 1033,995 2 516,997 124,966 0,000b residual 711,582 172 4,137 total 1745,577 174 a. dependent variable: the intention of entrepreneurship b. predictors: (constant), locus of control, need for achievement table 7 t-test results for x1, x2, z coefficientsa model unstandardized b coefficients std. error standardized coefficients beta t sig. 1 (constant) 10,129 1,746 5,802 0,000 need for achievement 0,191 0,069 0,269 2,759 0,006 locus of control 0,409 0,076 0,525 5,391 0,000 a.dependent variable: entrepreneurship attitudes table 8 f-test results for x1, x2, y, z anovaa model sum of squares df mean square f sig. 1 regression 1280,398 3 426,799 180,828 0,000b residual 403,602 171 2,360 total 1684,000 174 a. dependent variable: the intention of entrepreneurship b. predictors: (constant), entrepreneurship attitudes, locus of control, need for achievement 44 the winners, vol. 22 no. 1 march 2021, 39-45 effect on students’ entrepreneurial intention at smkn 1 batang hari. the results of the spss 25 output are related to the f-test and the t-test, as provided in table 8 and table 9. it is found out that sig. t of locus of control is 0,000. it is less than 0,05 showing that the regression coefficient is significant. f test is to find whether the contribution of the relationship between entrepreneurial attitudes to entrepreneurial intentions is significant. table 8 shows the value of f is 180,828 with sig. 0,000. with a significance value less than 0,05, it is considered that locus of control has a significant influence on entrepreneurial intention, thus h4 is accepted. next, hypothesis 5 (h5) is the research is: entrepreneurial attitude has a positive and significant effect on students’ entrepreneurial intention at smkn 1 batang hari. the results of the spss 25 output are related to the f-test and the t-test to determine the effect of locus of control on entrepreneurial intention, as seen in table 6 and table 7. based on table 9, sig. t of locus of control is 0,000. it is less than 0,05 meaning that the regression coefficient is significant. as shown in table 8, f-test proves that the value of f is 180,828 with sig. 0,000. with a significance value less than 0,05, it is considered that locus of control has a significant influence on entrepreneurial intentions, thus h5 is accepted. hypothesis 6 (h6) in the research is: need for achievement with entrepreneurship attitude mediation has a positive and significant effect on students’ entrepreneurial intention of smkn 1 batang hari. based on table 7 it is known that the value of the direct influence of need for achievement (x1) on entrepreneurial intention is (z) 0,269. the indirect effect is equal to 0,298 which means that the value of the indirect effect is greater than the value of the direct effect. these results indicate that need for achievement (x1) through attitude (y) indirectly has a significant effect on entrepreneurial intentions (z). lastly, hypothesis 7 (h7) is: locus of control with mediation of entrepreneurial attitudes has a positive and significant effect on students’ entrepreneurial intentions of smkn 1 batang hari. table 7 shows that the value of the direct effect of locus of control (x2) on entrepreneurial intention is (z) 0,525 and the indirect effect is 0,586 which means that the value of the indirect effect is greater than the value of the direct effect. this result indicates that locus of control (x2) through attitude (y) indirectly has a significant influence on entrepreneurial intention (z). iv. conclusions the research finally comes up with conclusions: 1) need for achievement has an influence on attitudes of class xi students at smkn 1 batang hari, 2) locus of control has an influence on attitudes of class xi students at smkn 1 batang hari, 3) need for achievement has an influence on class xi students’ entrepreneurial intention at smkn 1 batang hari, 4) locus of control has an influence on the entrepreneurship intention of class xi students at smkn 1 batang hari, 5) attitudes have an influence on entrepreneurial intentions of class xi students at smkn 1 batang hari, 6) need for achievement experience through attitude indirectly has a significant influence on entrepreneurial intention of class xi students at smkn 1 batang hari, and 7) locus of control through attitude indirectly has a significant influence on entrepreneurial intention of class xi students at smkn 1 batang hari. the research results can be used as important information that the entrepreneurial intention must be owned by students to prevent the increasing number of unemployment, especially for smk graduates. in addition, entrepreneurship teachers can arrange learning tools both from the syllabus, lesson plans, models learning and teaching methods to improve need for achievement, locus of control and student attitudes, so they have formed entrepreneurial intentions from an early age. the research has limitations since it focuses on the problem of the influence of need for achievement and locus of control on the entrepreneurial intentions of students of smk negeri 1 batang hari through their attitudes. moreover, the criteria for respondents is considered limited, so future researchers are suggested to extend and develop the criteria. for future research, the research has a drawback since it is only carried out at one school at smk negeri 1 batang hari, so it is expected that further research is conducted at several other smk in batang hari to produce more representative results. table 9 t-test results for x1, x2, y, z coefficientsa model unstandardized b coefficients std. error standardized coefficients beta t sig. 1 (constant) 4,754 1,442 3,297 0,001 need for achievement 0,164 0,053 0,236 3,079 0,001 locus of control 0,370 0,062 0,484 5,975 0,000 entrepreneurship attitudes 0,209 0,058 0,212 3,621 0,000 a. dependent variable: the intention of entrepreneurship 45the effect of need for achievement.... 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(2015). intensi berwirausaha mahasiswa: perspektif pengambilan risiko. jurnal siasat bisnis, 19(2), 109-123. https:// doi.org/10.20885/jsb.vol19.iss2.art2. the role of oil palm and rubber industry …… (arman, et al.) 61 the role of oil palm and rubber industry toward regional economic in west kalimantan-indonesia arman1; asep saefuddin2; fathia anggriani pradina3 1bioindustri, fakultas bioindustri, universitas trilogi jln. taman makam pahlawan no. 1, kalibata, pancoran, jakarta 12760, indonesia 2 statistika, fakultas matematika dan ilmu pengetahuan alam, institut pertanian bogor gedung labtek viii lt.1, jl. ganesa 10, bandung 40132, indonesia 3statistika, universitas trilogi jln. taman makam pahlawan no. 1, kalibata, pancoran, jakarta 12760, indonesia 1arman@trilogi.ac.id; 2asaefuddin@gmail.com; 3fathia.pradina@universitas-trilogi.ac.id abstract the study aimed to assess the role of palm oil and rubber toward the economy in west kalimantan. another aim was to develop oil palm and rubber industry to strengthen the economy of west kalimantan. the method used in this research was the analysis of input-output. the main data was the input-output (io) data in 2011 from the central bureau of statistics (bps), which consists of 54 sectors. the results show that the industrial output of palm oil and rubber, as well as oil palm and rubber, is still low. weak innovation and technology lead to the low output and role of these two sectors to the economy of west kalimantan. another obstacle that leads to the economy of rubber and palm oil industries under the standard is the lack of motivation research, infrastructure, and connectivity. keywords: economic, industry, oil palm, rubber introduction the potency of the plantation, palm oil, and rubber industry cannot be optimized by the government of west kalimantan indonesia for the following reasons; (1) the availability and quality of infrastructure (roads, ports, energy/electricity, and water) is not adequate. (2) the industrial added value is very low. (3) the rule of law in developing investment. (4) the function of the port is still a local level. lastly, (5) lack of innovation and technology in the field of oil and rubber industry (badan perencanaan dan pembangunan daerah, 2014). this study aims to assess and understand the role of the plantations and oil palm and rubber industry in west kalimantan. palm and rubber plantations have lasted over 50 years in west kalimantan. however, industrial processing, connectivity, and human resources have not supported it yet. the problem of human resource constraints in palm and rubber industry leads to low innovations. on the other hand, the problem in connectivity causes transportation costs to be inefficient and ineffective. chiu & lin (2012) said that the transport industry has a close relationship with other industries to meet the input and output of the industry. the area of oil palm plantations owned by the people and companies in west kalimantan is estimated to be 314.983 ha and 906.486 ha, while rubber plantations are estimated to be 587.262 ha and 4.942 ha. based on the data, the utilization of oil palm and rubber plantations for total farming area ranges from 73,45% (badan pusat statistik, 2014). in the same year, the amount of foreign direct investment (fdi) and domestic investment (dci) in the plantation sector are estimated to be $ 40,78 million (62,27% of the total investment) and $ 3,16 million (52,94% of the total investment). with mailto:arman@trilogi.ac.id mailto:asaefuddin@gmail.com mailto:fathia.pradina@universitas-trilogi.ac.id 62 journal the winners, vol. 18 no. 2, september 2017: 61-72 such broad field, palm oil and plantation industries indeed can thrive. however, the role of oil palm and rubber industry has not been able to improve the economic and alleviate poverty. the poverty in west kalimantan is estimated to have increased by 11,33%, which in number increases from 1.097.369 to 1.221.779 people (badan pusat statistik, 2014). the productivity of oil palm and rubber plantations in indonesia is still less than other asean countries. the average of productivity of palm plantations in indonesia ranges from 3,8 tons/ha, which is lower than malaysia’s 4,6 tons/ha. the same thing happens with rubber plantations. the productivity is only 993 tons/ha, which is lower than thailand, vietnam, and malaysia. furthermore, the export of palm oil plantations is higher in cpo. this reflects that the agricultural sector has forward linkage as well as backward linkage that are still weak (dasril, 1993). the weak linkages show that the downstream agricultural sector is still very low. this causes the added value obtained by the sector to be low. on the other hand, the total number of labor depends on agriculture sector (including plantation) is 48,63% (badan pusat statistik, 2016). therefore, to strengthen the linkages, it is necessary to develop strong downstream industries, especially the oil palm and the rubber plantations sector. this is because the area's utilization of the sector is very wide. furthermore, the government needs to strengthen human resources to support the downstream industry. hausmann et al. (2013) said that the quality of human resources is a basic fundamental in developing innovations and modern technologies. skilled human resources and abundant innovation should support a complex economic activity. resources and modern technological innovation have not supported the processing of oil industry and rubber industry. the added value of the industry becomes low, and the development of the industry slow, which impact the economy significantly. currently, the processing of the oil industry in west kalimantan is only in the form of cpo. the processing of cpo to be the main ingredient for cosmetics and medicine has not been well developed in west kalimantan. there are four things that need to be considered by the government in increasing the added value of the oil industry: (1) encouraging and giving priority to investment in the field of refined palm oil industry rather than investment in on-farm and cpo. (2) the government should increase the participation of farmers as owners and producers of oil palm plantations, not as labor. (3) the government must have a clear road map to the palm oil industry. (4) the government needs to promote the procedure to develop oil industry specialization and investment incentives (amzul, 2011; aswandi & kuncoro, 2002). these should be done in order to improve economic linkages in the region (arman et al., 2015). therefore, it is important to understand the sectors that can generate high added value in a region (muchdie, 2017). the indonesian government has launched a master plan for the acceleration and expansion of indonesian economic development (mp3ei). ministry of economics has developed six policies: (1) domestic industry security through a competitive industry in the face of global competition, (2) infrastructure development, (3) improvement of the quality of public service, (3) improvement of the regulation, (4) fiscal policy, and (5) human resource development in the field of industry (kementerian koordinator bidang perekonomian, 2011). tijaja & faisal (2014) stated that indonesia experiences a lack of energy to support industrialization, low labor productivity, bureaucracy, and lack of synergy between the ministries and government agencies. therefore, mp3ei program is expected to help boost the productivity of industrial oil palm and rubber plantations in indonesia. along with the mp3ei program, the government of president jokowi and jusuf kalla will cut regulatory policies that impede investment and create policies in 13 packages to facilitate the investment. guo & planting (2000) explained that the role of the non-manufacturing industry has a great influence on the economic structure when it has inter-industry linkages. the role of oil palm and rubber industry …… (arman, et al.) 63 industrialization needs to be considered by the state to strengthen the competitiveness of countries, particularly with asean countries. in two decades, the economy of vietnam is has grown and become modern. the standard of living in vietnam develops very rapidly and makes the economic transition integrate with the world economy. that is because the government focuses on the process of industrialization and modernization that aims to make vietnam as an industrial economy by 2020 (trinh et al., 2012). methods this study uses non-survey technique. the data used as the unit of analysis is the input output (io) data consisting of 54 sectors (presented in a manuscript of 53 sectors) in the year of 2011, sourced from bps (badan pusat statistik, 2011). the data is still relevant to be used as a short-term analysis of the economic condition of the region in west kalimantan, with the assumption that: (1) technical coefficients technology does not change, (2) prices are relatively stable, (3) the relative economic structure is constant, and (4) the economic structure of the short-term period has not changed much. the data will be projected from as many as 54 sectors of the field of business. the economic structure which shows that the regional economy in west kalimantan is relatively constant in the short term is presented in table 1. table 1 economic structure of west kalimantan based on constant 2010 prices according to field of business in 2012-2015 no sector 2012 2013 2014 2015 1 agriculture and forestry 24,13 23,93 23,31 22,77 2 mining and excavation 4,77 4,5 4,29 4,12 3 processing industry 16,92 16,97 16,85 16,62 4 procurement of electricity and gas 0,08 0,07 0,09 0,09 5 procurement of water 0,15 0,15 0,14 0,14 6 construction 10,06 10,38 10,94 11,41 7 trading 15,01 15,16 15,08 15,28 8 transportation 4,13 4,15 4,18 4,18 9 procurement of accommodation and food drink 2,29 2,27 2,29 2,31 10 information and communication 3,71 3,86 4,12 4,37 11 financial service 3,31 3,52 3,6 3,61 12 real estate 3,02 2,99 3,02 2,98 13 company service 0,47 0,48 0,48 0,49 14 government administration 4,96 4,69 4,72 4,83 15 education service 4,34 4,34 4,35 4,28 16 health service 1,53 1,46 1,46 1,45 17 others 1,12 1,07 1,08 1,07 (source: bps, 2017) the data in table 1 shows that the contribution of each sector in the period of 2012-2015 is relatively unchanged. this is why the io data of 2011 can still be used as a unit of analysis with other assumptions strictly considered stable. the io method used in this research is developed by leontief in 1930. his findings brought him to get the nobel prize (miller & blair, 2009). leontief thought of the input-output analysis as: “an empirical study of interrelations among different parts of a national economic as revealed through covariation prices, output, investment, and income.” (leontief, 1936) 64 journal the winners, vol. 18 no. 2, september 2017: 61-72 leontief (1936) developed the formulation by observing in detail the flow between commodity and industry. after that, leontief made an input-output table that consists of (1) final demand, (2) primary input, and (3) total output. final demand consists of household consumption, government spending, investment, and export. primary input consists of the value-added component of wages, value-added profit, and imports (hewings & jensen, 1987). in detail, the standard used for balancing the leontief flow of goods and transaction is: (1) (2) assuming a production function is linear and homogeneous along with a relatively unchanged technological coefficient, the formula input coefficient is: (3) furthermore, the above equation is substituted into equation (2). hence, it becomes: (3) if matrix a is ( ), vector y ( ), and x ( ), the equation becomes: (4) furthermore, the formula can be written into a matrix of leontief, namely: (5) matrix leontief’s key matrix is used to (1) determine and estimate forecasting models and input-output, and (2) estimate backward and forward linkage (daryanto & hafizrianda, 2010). chenery & watanabe (1958) said that the backward linkage sees the demand side (demand driven or power of dispersion) and the forward linkage sees the supply side (supply driven or sensitivity dispersion) (mattioli & lamonica, 2013). the backward formula and forward linkage are presented in the following equation: (6) (7) furthermore, this research also adopts the model from sinha, das, and datta (2012) and morilla, diaz-salazar, and cardenet (2007) to estimate the added value of wages, indirect taxes, and effort. the formula used is: (8) results and discussions the estimation results of this study can only be used as a reference and information materials in taking policy for a short period with the provision of strict assumptions as predetermined. one of the facts used to prove that the regional economy in west kalimantan is relatively stable is the unchanged economic structure during 2012-2015. therefore, the results of this study can be used as additional information material for the government to observe the economic development, especially in sectors emphasized in this research which are the palm oil industry and rubber industry. the role of oil palm and rubber industry …… (arman, et al.) 65 contributions of plantations and industrial rubber and palm oil based on the value of backward linkage and forward linkage are still lower compared to some sectors in west kalimantan. the value of backward linkage from rubber and oil palm plantations is 1,271 and 1,389 each, which ranks 38th and 30th. the value of backward linkage from the industries of rubber and oil palm plantations amounts to 1,611 and 1,180 each. both of these are ranked 17th and 42nd. the value of forward linkage from rubber and palm oil amounts to 0,968 and 0,967 respectively, which ranks 9th and 11th. the rated value of forward linkage from industries of rubber and palm oil is 0,266 and 0,740 respectively, which ranks 28th and 22nd. the estimation results of forward linkage and backward linkage show that plantation and plantation industry still have the smaller role in the economy compared with other sectors. based on the value of backward linkage, rubber industry ranks much higher than the oil industry with 17th and 42nd respectively. meanwhile, the value of forward linkage from oil industry ranks higher at 22nd than the rubber industry which ranks 28th. the rubber industry has the greater influence on the demand side than the oil industry. it shows that the rubber industry, involving other sectors (in the economy), is more active than the oil industry in driving the region's economy. the rubber industry is more cultivated by the local people, while oil palm plantations are owned by large-scale enterprises. the effects of rubber industry's influence are greater than the demand side. the implication is that the rubber industry multiplication creates greater income to the various sectors and economic activities in west kalimantan. rubber industry is able to push the economy's output amounted to 1,611 if the sector final demand is increased by one. it shows the rubber industry’s influence on various sectors. rubber industry has a linkage with a rubber plantation sector, trade, land transport, river transport and crossings, sea transport, banking, warehousing sector, infrastructure (construction), chemical industry, other industries, and electricity. rubber industry is strongly influenced by the connectivity between regions. this is reflected in its influence on sea transport, river, and land transportation. therefore, the development of road infrastructure must be realized in order to support the flow of commodities. on the contrary to the side of the forward linkage, the oil industry is slightly better than the rubber industry. most of the oil palm plantations are operated by large-scale enterprises, including industrial processing. it shows that the oil industry a little better on the supply side. unfortunately, the value of forward linkage from palm and rubber industry is less than one. this shows that the majority of processed palm oil industry has not been able to be absorbed by domestic outlets. innovation and technology in west kalimantan is not enough to be able to process the processed, e.g., cpo, into value-added products. this situation can create a capital outflow to other regions or countries. the greater the resources of raw materials exported, the greater the added value of regional economic flows to other regions and countries. its influence on the region is the added value of labor, employment, and economic output into a small area. needless to say, the role of the oil industry is to be small in boosting the economic in the west kalimantan region. instead, the role of other industries such as industrial goods, timber industry, and the chemical industry is better than the oil industry. from the supply side, oil palm and rubber plantations are quite good compared to some other sectors. rubber plantations and palm oil are ranked 9th and 11th respectively. it is not uncommon for large-scale oil palm plantations to always be accompanied by the development of processing fresh fruit into cpo industry. likewise, with rubber, the rubber-processing industry is already available in a decent amount to meet the supply of plantation sector output. palm and rubber plantations should have been able to give a major influence on the technology industry, chemical industry, transportation, and agriculture. these four sectors are considered creating linkages in fostering the development of the demand side. however, it does not 66 journal the winners, vol. 18 no. 2, september 2017: 61-72 happen because of the low human development in the field of innovation and technology. the role of governments and employers to improve the resource is not optimal, which is reflected in the low cost of research and human resources to develop innovation and technology. that is why oil palm and rubber plantation sector experience a mislinkage with related sectors would be expected for the region and between regions. furthermore, the plantation sector requires alliances linkage with other sectors in other countries to meet the basic input plantations. here is the beginning of the stream flowing out the added value and economic inefficiency. in detail, the value of backward linkage and forward linkage is presented in table 2. table 2 backward linkage and forward linkage plantation of an industrial commodity rubber and palm oil in west kalimantan no sector backward forward 1 paddy 1,314 2,083 2 corn 1,115 0,993 3 soybean 1,784 0,992 4 cassava 1,630 0,985 5 other crops 1,824 0,983 6 agricultural services and hunting 1,787 0,979 7 orange 1,538 0,973 8 horticultura 1,566 0,970 9 rubber 1,217 (38) 0,968 (9) 10 coconut 1,119 0,967 11 palm oil 1,389 (30) 0,967 (11) 12 coffee 1,153 0,966 13 pepper 1,132 0,965 14 other plantation crops 1,145 0,965 15 poultry 1,721 0,964 16 other livestocks 1,523 0,844 17 wood 1,214 0,791 18 other forest products 1,812 0,769 19 captured fisheries 1,791 0,762 20 aquaculture 1,209 0,759 21 mining 1,293 0,756 22 palm oil industry 1,180 (42) 0,740 (22) 23 food and beverage industry 2,711 0,739 24 textiles and apparel industry 1,699 0,240 25 manufacture of wood, articles of wood and matting 1,734 0,239 26 industry paper and paper products and printing 1,410 0,233 27 chemical, pharmaceutical, and traditional medicine 1,763 0,232 28 rubber industry, manufacture of rubber and plastics 1,611 (17) 0,226 (28) 29 industrial good excavation 1,403 0,225 30 manufacture of metal goods, computers, and electronics 2,130 0,222 31 furniture industry 1,464 0,209 32 other industry 1,744 0,206 33 electrification 1,218 0,192 34 water supply 1,097 0,191 35 infrastructure 1,466 0,191 36 large retail trade 1,317 0,189 37 land transportation 1,841 0,186 38 water transportation 1,566 0,179 39 river rransportation 1,580 0,157 the role of oil palm and rubber industry …… (arman, et al.) 67 table 2 backward linkage and forward linkage plantation of an industrial commodity rubber and palm oil in west kalimantan (continued) no sector backward forward 40 air transportation 1,633 0,150 41 warehousing and transport supporting services 1,245 0,146 42 provision of acomodation 1,586 0,145 43 provision of food and bevarage 2,152 0,126 44 information and communication 1,158 0,050 45 bank 1,219 0,050 46 insurance 1,081 0,049 47 other financial service 1,079 0,049 48 real estate 1,372 0,049 49 company services 1,190 0,048 50 government administration and defense 1,000 0,047 51 education services 1,529 0,047 52 health services and social activities 1,531 0,031 53 other services 1,039 0,001 (source: data io year 2011 after being processed, 2011) the added value of the wage sector is quite various, but the oil palm plantation industry has better added value than the rubber industry or sector of rubber and oil palm plantations. the big sector that produces value-added labor is the administration, warehousing, and service companies as well as the rice sector. the rating wage of value-added palm oil and rubber industries are on the 5th and the 37th rank respectively. meanwhile, the palm and rubber plantations are 45th and 21st each. the considerable difference between the ranks of the oil industry and rubber industry indicates differences in factor productivity. factor productivity differences are indicated in (1) human resources, (2) technology, (3) output, and (4) market acceptance. the output of oil palm plantations is much larger than rubber plantations. the significant output differences encourage the use of more modern technology and the improved skills of human resources to increase productivity output. at the same time, the market acceptance of palm oil products is very large. it is the main indication why the value-added labor in the palm oil industry is much larger than the rubber industry. however, the added value of wages in the oil palm plantation sector is lower than a rubber plantation. that is because (1) the greater labor demand of oil palm plantations than that of rubber, (2) government policies that encourage large-scale enterprises of oil companies to provide maximum employment around the plantation, and (3) the company’s avoidance of social unrest if there are nonworkers around the garden. that results in the average wage of labor is low, as the company is estimated to absorb the labor force exceeding the requirements average. naturally, the company measures to reduce operating costs and improve efficiency. rubber plantation labor is relatively better than the wages of oil palm plantations. generally, the rubber plantation in west kalimantan is owned by small companies and society (not a big company). the added value of high wage is caused by the rubber plantation owner using manpower according to the needs. in the indirect value-added tax, value-added industry ranks of rubber and palm oil industries are 13th and 20th. the value of indirect taxes of transport and fisheries sector is still larger than both of these sectors. the contribution of these two sectors could actually be in a better position to increase indirect taxes. however, it is difficult to explain why these two sectors do not provide value-added tax 68 journal the winners, vol. 18 no. 2, september 2017: 61-72 directly on the economy, especially palm oil industry. the local government needs to verify the low contribution of the indirect value-added tax of these industries. the rated indirect value-added tax of each palm and rubber plantations each ranks 15th and 47th. the contribution of indirect taxes on the rubber plantation sector is considered reasonable for most of the rubber plantation holdings are farmers. plantation area owned by each farmer ranges only between 0,5 ha to 2 ha. oil palm plantations have a better value-added contribution of indirect taxes than rubber plantation. the added value of large indirect tax on oil palm plantations is caused by some companies operating in the oil palm plantations. the oil palm plantation area is already owned by the company in west kalimantan, amounting to 906.486 ha. the vast magnitude will affect the amount of value-added tax that is not directly produced by palm oil plantations. the value-added of industrial enterprises in the oil palm and rubber industry is ranked 47th and 25th, while the sector of oil palm and rubber plantations 15th and 22nd. oil palm and rubber industry has not demonstrated a better effort than some sectors in west kalimantan. on top of that, this low effort is affected by problems of infrastructure and connectivity between areas in west kalimantan. infrastructure development is recommended in west kalimantan to improve the efficiency and effectiveness of business scale. the greater the transport costs, the smaller the added value of palm and rubber plantations and their respective industrial enterprises. in detail, the added value of wages (u), operating surplus (su), indirect taxes (ptl), and industrial estates on palm and rubber commodities are presented in table 3. table 3 value-added wage (u), surplus (su), indirect taxes (ptl), and plantation, industrial, and commodity of rubber and palm oil in west kalimantan no sector u su ptl 1 paddy 0,551 0,423 0,008 2 corn 0,430 0,551 0,003 3 soybeans 0,379 0,567 0,021 4 cassava 0,371 0,565 0,019 5 other crops 0,225 0,706 0,020 6 agricultural services and hunting 0,372 0,562 0,020 7 orange 0,467 0,474 0,032 8 horticultura 0,291 0,639 0,029 9 rubber 0,346 0,635 0,006 10 coconut 0,175 0,725 0,020 11 palm oil 0,174 0,683 0,046 12 coffee 0,132 0,796 0,050 13 pepper 0,047 0,931 0,002 14 other plantation crops 0,093 0,894 0,005 15 poultry 0,331 0,718 0,013 16 other livestock 0,368 0,608 0,010 17 wood 0,277 0,485 0,008 18 other forest products 0,351 0,505 0,028 19 captured fisheries 0,244 0,621 0,069 20 aquaculture 0,252 0,667 0,061 21 mining 0,127 0,863 0,012 22 palm oil industry 0,549 0,374 0,041 23 food and beverage industry 0,444 0,903 0,044 24 textiles and apparel industry 0,292 0,618 0,022 25 manufacture of wood, articles of wood and matting 0,352 0,531 0,016 26 industry paper and paper products and printing 0,261 0,667 0,018 27 chemical, pharmaceutical and traditional medicine 0,223 0,677 0,042 28 rubber industry, manufacture of rubber and plastics 0,234 0,615 0,050 the role of oil palm and rubber industry …… (arman, et al.) 69 table 3 value-added wage (u), surplus (su), indirect taxes (ptl), and plantation, industrial, and commodity of rubber and palm oil in west kalimantan (continued) no sector u su ptl 29 industrial good excavation 0,131 0,800 0,010 30 manufacture of metal goods, computers, and electronics 0,123 0,768 0,071 31 furniture industry 0,218 0,582 0,037 32 other industry 0,217 0,528 0,097 33 electrification 0,205 0,742 0,008 34 water supply 0,425 0,424 0,020 35 infrastructure 0,508 0,361 0,045 36 large retail trade 0,294 0,517 0,055 37 land transportation 0,173 0,682 0,058 38 water transportation 0,460 0,486 0,033 39 river transportation 0,274 0,588 0,025 40 air transportation 0,253 0,537 0,106 41 warehousing and transport supporting services 0,711 0,242 0,010 42 provision of acomodation 0,417 0,433 0,047 43 provision of food and bevarage 0,278 0,734 0,023 44 information and communication 0,411 0,336 0,151 45 bank 0,252 0,713 0,005 46 insurance 0,272 0,582 0,091 47 other financial service 0,234 0,575 0,052 48 real estate 0,246 0,666 0,030 49 company services 0,650 0,174 0,096 50 government administration and defense 0,723 0,000 0,000 51 education services 0,259 0,573 0,045 52 health services and social activities 0,479 0,250 0,012 53 other services 0,064 0,920 0,004 (source: data io year 2011 after being processed, 2011) the results generally indicate that the industrial sector of oil and rubber in west kalimantan is not optimal. the industrial sector of oil palm and rubber haven’t been able to produce the optimal output which is why its performance is still very slow. processing chemical industry, food and beverage industry, palm oil industry, rubber industry, and other industries haven’t been real activities in west kalimantan region. hence, its effects on the welfare of the community are still very small. the government of west kalimantan has a vision of improving the welfare. however, it still faces major constraints as the utilization of natural and human resources is not optimal. there is also a mission to expand employment and business-based community economy through the empowerment of the potential and strength of the local economy, innovation, and human resources. mission regional focuses on the development of infrastructure to facilitate the mobility of people and goods flow, and accelerate development in rural areas, border, coastal, and island as a source of economic potential. this mission must be optimized through the linkage of economic and local resources output. to improve the industrial oil palm and rubber industry for the economy of west kalimantan, cooperation between the government, private sector, and communities are necessary. the cooperation is on developing (1) road infrastructure, (2) connectivity land, river, and sea which has not been integrated, (3) low-quality seeds, (4) the provision of quality fertilizer, and (5) improvement of regulations, incentives, and disincentives in developing the downstream oil industry and rubber industry. the time needed by farmers to transport fresh fruit harvest to the milling machine can reach 12-48 hours. however, large-scale enterprise processing industry’s travel time to harvest the oil industry could be faster. it takes longer because the quality of oil palm’s fresh harvest can either 70 journal the winners, vol. 18 no. 2, september 2017: 61-72 decrease or increase the cost of transporting oil palm farming. causes of the long journey are the lack of connectivity between the waterway to the port and overland to the river. furthermore, oil palm and rubber industry activities are concentrated on the upstream industry. the downstream oil industry is only to process cpo while the downstream rubber industry is only to process raw materials for vehicle tires. an estimated 15% of the rubber plantations upstream production is consumed by the downstream industry in indonesia and the rest 85% of the export commodity. this indicates that the industrial linkages of upstream and downstream oil and rubber commodities have not been going well. on the other hand, the development of high-quality seeds is low in west kalimantan which results in research and development costs being fully used on seeds. due to this, it is still difficult to produce quality seeds productively. in order to develop and optimize the role of the oil and rubber industries against west kalimantan region economy, planning systems and policies are needed in an integrated region. as the first step, the government needs to improve regulatory and regulations on the investment and marketing of oil palm and rubber production. secondly, rubber and palm oil commodity investments should be managed in the balance between upstream and downstream. third, every investor must have a plan of development projects between the upstream and downstream oil palm and rubber industry. fourth, results from upstream production should go through downstream processing into new products of high added value. lastly, exports of raw materials of palm and rubber commodities should gradually be reduced by strengthening the processing industry in west kalimantan. in order to support the success of downstream products, the government should provide skilled human resources and innovations. hilirisasi program should be implemented by the government, private parties, and community with the emphasis on research, development, and innovation of products from processed palm oil and rubber commodities. innovation research has synergy from upstream to downstream, namely (1) the availability of quality seeds which are friendly to the environment and (2) the innovation in technology and industry to produce a variety of output. the government should give full opportunity to the local farmers to be able to access the land and cultivate plantations. it aims to increase the participation of local communities in developing local economies and regions. local farmers must be provided with the skills and ability of innovation in the processing of oil palm plantations and rubber plantations in order to be more productive. the pattern of the upstream and downstream industry should be reflected in the regulation of the spatial structure and pattern. the plantations and industrial estates have connectivity with a wide range of industrial areas, ports, and airports. the region should be connected by land, river, and sea in order to achieve economies of scale. industrial economies of scale could have been better if the inputoutput industrial linkages can be realized. gradually, the input-output relationship and economies of scale will create economic agglomeration in west kalimantan region. therefore, government regulation factor, human resources, and innovation have an important role in improving the economy of oil and rubber industries in west kalimantan. palm and rubber industry development in west kalimantan is becoming more strategic as the region is located in the sea lanes islands 1 (alki-1) indonesia and faced directly onto the sea waters of the south china sea. development of industrial estates in west kalimantan will optimize the economy of the region in promoting economic growth and welfare. industrial estates will put west kalimantan as a liaison in cooperation among countries, namely indonesia-malaysia-singaporegrowth triangle (ims-gt) and the brunei-indonesia-malaysia-philippines east asean growth area (bimp eaga). the flow of goods by road between brunei darussalam and malaysia will be more intense if the industrialization of the region grows rapidly. the role of oil palm and rubber industry …… (arman, et al.) 71 conclusions important findings in the study show that industrial oil palm and rubber plantations, as well as commodities of palm oil and rubber, are still relatively low in the west kalimantan region. compared with other sectors, the role of industrial plantations, oil palm, and rubber for west kalimantan is still low. this low performance of industrial and agricultural commodities is caused by regional connectivity and economic linkages. the government should build and strengthen the industrial area of palm and rubber to be able to become national and international economic hub. it is supported by the strategic position of west kalimantan borders with several countries in facilitating trade and economic interaction. references amzul, r. 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(2012). inatural blue dye from clitoria ternatea: extraction and analysis methods. research journal of textile and apparel, 16(2), 34-38. doi: https://doi.org/10.1108/rjta-16-02-2012-b003. tijaja, j., & faisal, m. (2014). industrial policy in indonesia: a global value chain perspective. asian development bank economics working paper series no. 411. trinh, b., kobayashi, k., quang, t. n., & viet, p. n. (2012). multi-interregional economic impact analysis based on multi-interregional input output model consisting of 7 regions of vietnam, 2000. journal of finance and investment analysis, 1(2), 83-117. https://doi.org/10.1016/j.ecolecon.2006.02.012 http://www.emeraldinsight.com/author/sinha%2c+keka http://www.emeraldinsight.com/author/datta%2c+siddhartha https://doi.org/10.1108/rjta-16-02-2012-b003 *corresponding author p-issn: 1412-1212 e-issn: 2541-2388 81 the winners, 23(1), march 2022, 81-93 doi: 10.21512/tw.v23i1.7516 the determinant factors of e-loyalty in customer-to-customer e-commerce moderated by gender fernanda losaura1*; putra iyang bodronoyo2; dimas tri wibowo3 1,2,3creative marketing program, management department, binus business school master program, bina nusantara university jl. hang lekir i no. 6, gelora, jakarta 10270, indonesia 1losauranandaa@gmail.com; 2putraiyangb@binus.ac.id; 3dimas.wibowo001@binus.ac.id received: 29th april 2021/ revised: 04th july 2022/ accepted: 04th july 2022 how to cite: losaura, f., bodronoyo, p. i., & wibowo, d. t. (2022). the determinant factors of e-loyalty in customer-to-customer e-commerce moderated by gender. the winners, 23(1), 81-93. https://doi.org/10.21512/tw.v23i1.7516 abstract e-commerce businesses dealt with one of the most important challenges, which was to create personalized e-loyalty for their customers to stay loyal to their e-commerce platform. the research used the 8c's framework developed to determine the effect of customization, contact interactivity, care, community, convenience, cultivation, choice, and character variables on e-loyalty by using gender as a moderating variable. a quantitative method was implemented by having 247 respondents belonging to the millennial category who have made online transactions on the c2c e-commerce platform at least once in the past month. using the pls-sem method, the findings show that customization, contact interactivity, cultivation, community, and convenience can affect e-loyalty on c2c e-commerce platforms. in addition, the research finds that gender can have a moderating effect on customization and community. keywords: e-commerce, e-loyalty, customer gender i. introduction the development of the retail industry is expected to continue growing, especially for the e-commerce industry. lipsman (2019) estimates that the global retail market will increase by 4,5% over the previous year, with e-commerce developments taking place, asia-pacific will remain to lead the growth of global e-commerce where the expected growth is 25%, representing 64,3% of global e-commerce growth (lipsman, 2019). it is also predicted that e-commerce sales in asia pacific will nearly double in the next five years, growing at a compound annual growth rate of 14,0% and accounting for 28% of total retail sales. it is estimated that e-commerce, mainly through smartphone devices, will grow with a compound annual growth rate of 16,9% and account for 81% of online retail sales by 2023 (“forrester: online retail sales”, 2019). six of the ten fastest growing e-commerce countries in 2019 come from the asia-pacific region. indonesia is included in the 10 countries in asia pacific that have the highest e-commerce sales by occupying the 7th position at 20,6% (lipsman, 2019). mckinsey predicts there will be significant growth for e-commerce in indonesia, where sales will be able to reach us $65 billion per year by 2022, which is eight times what was recorded in 2017 (“indonesia’s e-commerce sales”, 2018; nurfadilah, 2018). millennials are a large and potential market share for the e-commerce market in indonesia for now and in the future. nestled within individual countries, millennials are tech-savvy working professionals who seek value and modernity in their purchases. they are also a powerful shopping cohort and the largest customer segment in most countries (chuah et al., 2017). the results of lokadata.id processing of the 2019 national socio-economic survey explain that the number of internet users in indonesia reaches 116 million, of which 15 million are millennials who claim to like shopping using the internet (lokadata.id, 2020). however, as a large and very potential market share, millennials are known to have a low level of loyalty (purani, kumar, & sahadev, 2019). compared to the previous generation, millennials have different characteristics, they are easily influenced by the surrounding environment, so 82 the winners, vol. 23 no. 1 march 2022, 81-93 they are not to be easily loyal (purani et al., 2019). every individual among millennials has at least two e-commerce applications downloaded and most of them claim to have made transactions in both e-commerce applications (alvara strategic, 2019). according to ferrer (2018), about 80% of millennials find information on products and services online and 60% of them make online purchases. customers who are accustomed to using e-commerce in buying products, especially millennials, state that transaction through e-commerce is easier. it shows that in addition to having great growth opportunities, e-commerce in indonesia also has a competitive competition. e-commerce businesses in indonesia are aware that more services provided by e-commerce players make customers easily move from one e-commerce to another, so loyalty will be a challenge for them (ulya, 2019). in other research, it has been proven that e-loyalty greatly affects customer service and satisfaction in online shopping and can be accepted and used well by customers (khan, zubair, & malik, 2019). getting a personalized layout makes customers feel cared for, making them comfortable to be in the platform (robinson, 2019). in addition, customers consider choosing an e-commerce for the convenience, easy access to information, wider range of products and services, and lower prices (agyapong, 2018). the company image also becomes a consideration for customers to continue using or switching to other e-commerce platforms that are considered more suitable for them (robinson, 2019). by being able to provide good e-commerce services to customers, it will affect customer loyalty to e-commerce organically or organic loyalty. it helps e-commerce businesses to reduce additional expenses in creating loyalty programs and helps to create loyal customers of e-commerce with or without the rewards provided (hänninen et al., 2019). loyalty is described as a positive attitude towards future purchases, also reflected in customer commitment to a brand, as well as showing customer loyalty to certain objects, such as brands, products, services, or stores (wibowo et al., 2020). experience and convenience in using an e-commerce can be a competitive advantage compared to giving rewards. one e-commerce company should avoid providing opportunities for customers to compare their rewards to the ones offered by competitors. the implementation of an e-loyalty will be more effective with the personalization carried out. mckinsey states that personalization can provide greater opportunities for e-loyalty (lindecrantz, gi, & zerbi, 2020). the first and easiest personalization to implement is based on demographics, namely gender, where businesses only need to provide two different types of categories but can provide significant results (saasquatch, 2019). personalization can be done starting from different website layout designs, where it is studied that men prefer bright colors compared to women who prefer soft colors (rancea, 2021). men and women also have different top list product categories, where men prefer to buy products in the computer hardware and computer software categories compared to women who prefer to buy food, groceries, and fashion products (angelovska, 2018). research on e-loyalty is also growing and becoming a concern, especially in the era of e-commerce development. srinivasan et al. (2002) propose the 8c's framework model which is then widely used in research to find out what factors to be considered in creating good e-loyalty in e-commerce. the advantage of 8c's framework compared to other frameworks or research models lies in its very strong relevance to the e-commerce media used such as applications or websites today. in its formulation, 8c's framework is also adapted to the customer journey in e-commerce. several studies on e-loyalty also show men and women have different perceptions of what is important to be provided by an online store to make a positive shopping experience on e-commerce platforms, with different behaviors, perspectives, and purchasing decisions in online shopping between men and women, it affects their level of e-loyalty to a brand (szymkowiak & garczarek-bąk, 2018). one observer of the e-commerce business in asia, director of consulting deloitte southeast asia, states that the rapid growth of e-commerce in indonesia is a challenge for its players to retain their customers (ulya, 2019). thus, the faster the development of this e-commerce business, the higher the urgency level for e-loyalty. e-loyalty is significantly an important thing to achieve since e-commerce cannot continue to compete in retaining customers only by providing continuous promotions. the research aims to examine the application of e-loyalty to e-commerce using the 8c's framework using gender as a moderating variable in the case study of e-commerce in jakarta. the research discusses e-loyalty using the 8c's framework developed by srinivasan et al. (2002) with the variables studied including customization, contact interactivity, cultivation, care, community, choice, convenience, and character. the difference from previous research lies in the location and focus analyzing the role of gender variables in influencing e-loyalty. customization makes it possible to fulfil the needs and expectations of the customer and helps in maintaining loyal customers (rodrigues & ferreira (2016). customization in online shopping is a strategy that may help in persuading customers to select a product or service leading to a purchase (pappas et al., 2017) and lead to a unique and memorable brand experience (wetzlinger et al., 2017). customization is widely implemented in e-commerce and besides maintaining loyal customers, it has been proven to increase customer loyalty (kaminskas et al., 2017). customization provides the possibility that customers will find something they want to buy according to their preferences. with the satisfaction generated from this customization, they are expected to repurchase (srinivasan et al., 2002). therefore, the proposed research hypothesis is: 83the determinant factors of e-loyalty.... (fernanda losaura, et al.) h1: customization has a positive effect on e-loyalty in e-commerce in online commerce, interaction represents the high level of engagement and communication between the buyers and the sellers, and emphasizes immediate and mutual communication (bao et al., 2016). the level of customers’ overall satisfaction is partially determined by user perceived interactivity during communication (lee, 2017). roy (2018) defines interaction as part of the customer experience, which is the affective and cognitive aspects resulting from services that can lead to behavioral results, for instance, customer loyalty. previous research has shown that contact interactivity can affect e-loyalty in e-commerce (srinivasan et al., 2002), so that the proposed research hypothesis is: h2: contact interactivity has a positive effect on e-loyalty in e-commerce increased competition and the availability of sample alternative options for customers to select their superior service or product provider is a great challenge to most of the organizations in retaining existing customers for an extended period (feliz & maggi, 2019). interaction allows a search process to quickly locate a desired product or service, reducing the customers’ dependence on having a detailed memory (padmavathy et al., 2019). frequent interaction between the company and customers are necessary due to influence from internal and external factors that impact customers’ expectation, and behaviors differ over the time to retain the existing customer (ali & ali, 2018). cultivation is the extent to which e-commerce provides relevant information and incentives to customers that are used to broaden and deepen customer purchases over time (srinivasan et al., 2002). preceding research have shown that cultivation can affect e-loyalty in e-commerce (rao & kothari, 2017), so that the proposed research hypothesis is: h3: cultivation has a positive effect on e-loyalty in e-commerce care is shown when the company continues to remind customers about the status of orders, upcoming products, and others. customers will feel that the company pay attention to maintaining good relationships with them (hänninen, 2019). the quality of care has a direct positive effect on customer behavior, they can feel satisfied and become loyal if one’s service meets their expectations (asnawi et al., 2019). it is also believed that care has positive direct effects on customer loyalty which is explained by repurchase (lai et al., 2018). it has been shown that care can affect e-loyalty in e-commerce (srinivasan et al., 2002), so the research proposes hypothesis as: h4: care has a positive effect on e-loyalty in e-commerce it is found that the ability of customers to exchange information and compare product experiences can increase the loyalty of these customers as well as other customers (srinivasan et al., 2002). it shows an honest statement from fellow customers about a product sold in an e-commerce. e-loyalty can be enhanced by the participation and commitment of the community or customers online. in online brand community, e-loyalty is expected not only to be influenced by voluntary customer participation in the community, but also by autonomous management of websites (hsieh & wei, 2017). the e-loyalty research should come from a community’s perspective, in which the customer is socially integrated, with relationships which infer and direct his or her choices on online media (handarkho, 2020). it has been previously found that community can affect e-loyalty in e-commerce (kristyassari et al., 2018), so that the proposed research hypothesis is: h5: community has a positive influence on e-loyalty in e-commerce choice is critical because it lays the foundation for an intentional purchase (kotler et al., 2019). choice in e-commerce plays an important role because increasing the number of alternatives available in one e-commerce can greatly reduce the opportunity cost and inconvenience cost of finding and buying products online. by having many and varied product choices in one e-commerce, it can make e-commerce dominant and top-of-mind, as it is the only go-to e-commerce if customers want to buy a product, so it ultimately creates e-loyalty (srinivasan et al., 2002). e-loyalty on an e-commerce site makes the customer prioritize searching for products, choosing the site for their online shopping needs, and giving the website’s name when being asked about the shop (srivastava & rai, 2018). several previous research have shown that choice can affect e-loyalty in e-commerce (pasumarthy et al., 2016), so that the proposed research hypothesis is: h6: choice has a positive effect on e-loyalty in e-commerce scholars have examined the concept of convenience and its effects on customer behavior, and previous research has shown that service convenience plays a significant role in customers’ evaluations of their overall experience (berry, 2016). convenience plays a role when customers have plans to purchase products online. it is perceived as saving time and effort related to searching for and selecting a product or brand (duarte, costa e silva, & ferreira, 2018). the discomfort they feel when they are in the process of finding and buying products on an e-commerce will cause a decline or even the loss of customer e-loyalty (srinivasan et al., 2002). convenience has a positive correlation with repurchase and impact loyalty (kumar et al., 2020). it is shown that convenience can affect e-loyalty in e-commerce (pasumarthy et al., 2016), so 84 the winners, vol. 23 no. 1 march 2022, 81-93 that the proposed research hypothesis is: h7: convenience has a positive effect on e-loyalty in e-commerce character is a creative website design that can help e-commerce in building a positive reputation and characterization for itself in the minds of customers. therefore, through the perspective and reputation, it can influence the level of customer e-loyalty to e-commerce (srinivasan et al., 2002). in e-commerce context, website has a significant role in mediating the relationship between the seller and the buyer. interactions between both parties are mediated by a website, in which through the website, both parties could establish and maintain a good interaction and communication with each other (wilson et al., 2019). higher customer perception of an e-commerce website increases the customer intention to repurchase on the website, which will create loyal customers (wilson et al., 2018). character can affect e-loyalty in e-commerce (hendrian, 2012), so that the proposed research hypothesis is: h8: character has a positive effect on e-loyalty in e-commerce gender is one of the most frequently used segments to understand customer behavior in online shopping (pereira & salgueiro, & rita, 2016). khan & rahman (2016) show that gender can moderate the effect of e-tail brand experience on e-loyalty. the e-tail brand experience includes easy access and website navigation in finding product or service information (convenience), different offers for each customer or custom (customization), and maintaining healthy customer relationships and positive online customer reviews (community) (khan & rahman, 2016). gender is also found to be able to moderate the effect of visual engagement on e-loyalty (pandey & chawla, 2018). where this visual engagement is a different layout design (customization) aimed at male and female respondents, information (contact interactivity) is the availability of relevant information needed by customers. e-brand trust which includes customer confidence in providing recommendations provided by e-commerce is significantly relevant and useful for them (cultivation) and customer trust in e-commerce to always provide the best service and will not take unilateral advantage (care) is also found to be possibly moderated by gender variable in its effect on e-loyalty (khan & rahman, 2016). therefore, the proposed hypothesis are formulated, and the research model can be described as seen in figure 1. h9: gender moderates the effect of customization on e-loyalty in e-commerce h10: gender moderates the effect of contact interactivity on e-loyalty in e-commerce h11: gender moderates the effect of cultivation on e-loyalty in e-commerce h12: gender moderates care's influence on e-loyalty in e-commerce h13: gender moderates the influence of community on e-loyalty in e-commerce h14: gender moderates the effect of choice on e-loyalty in e-commerce h15: gender moderates the effect of convenience on e-loyalty in e-commerce h16: gender moderates the effect of character on e-loyalty in e-commerce research on e-loyalty using the 8c's framework in indonesia is still very limited. lajar et al. (2019) has conducted research using 8c's framework but did not use gender as a moderating variable. the gender differences will also create different behaviors in online shopping, men are more affected by the interactivity of a website than women are. in contrast, women are more affected by vividness, diagnosticity of the information, and perceived risk (lin et al., 2018). moreover, men are studied to have different figure 1 research model 85the determinant factors of e-loyalty.... (fernanda losaura, et al.) levels of sensitivity than women regarding e-loyalty (sugianto, 2017). suggestions from previous studies suggest conducting further research by analyzing the role of gender variables in influencing e-loyalty (chen & lee, 2015). therefore, the research is the only one studying the application of e-loyalty using the 8c's framework and gender as a moderating variable in a case study of e-commerce in indonesia. ii. methods associative research is used to determine the effect of the independent variables, namely customization, contact interactivity, cultivation, care, community, choice, convenience, and character on the dependent variable, namely e-loyalty. this is reinforced by a moderating variable in the form of gender. the research subject is an individual belonging to the millennials who have made purchases at least one time in the last one month on the customer-to-customer (c2c) e-commerce platform in indonesia. millennials were born in 1977-2000 (kotler & armstrong, 2014), so that in 2020 millennials are those who are in the 20 – 43 years age group. the research uses non-probability sampling with judgmental sampling method. determination of the minimum sample size in the research refers to heir et al. (1995) with the number of question indicators used using the assumption of n x 5 observed variables (indicators) up to n x 10 observed variables (indicators). therefore, to measure nine variables with 49 statement items, the number of respondents required is 245 respondents. the research conducts a pre-test by distributing questionnaires to 30 respondents who have shopped online on the c2c e-commerce platform in the past month using a questionnaire link on google form. based on the results of the reliability tests, all items are considered reliable because they have a composite reliability value above 0,7 (ghozali & latan, 2015). meanwhile, the results of the validity test that have been carried out are 38 valid questionnaire items with factor loading > 0,7, namely 5 customization items, 3 contact interactivity items, 4 cultivation items, 4 care items, 4 community items, 3 choice items, 3 convenience items, 4 character items, and 8 e-loyalty items. the remaining 11 items are invalid because they have a factor loading value lower than 0,7, therefore, the research discards 11 items (cus3, ci2, ci5, cul5, car5, com1, cho3, con4, con5, el4, and el5) which are invalid in the questionnaire. the analytical methods is sem or structural equation modeling which is processed using smartpls version 3.0 software. the research uses pls-sem since it is the most appropriate method for research in marketing science or information system, where this research is based on the influence test or regression (hair et al., 2016). in addition, the plssem model can explain the variance of the dependent variable better and evaluate the quality of the data based on the characteristics of the measurement model (hair et al., 2016). pls-sem provides approximate parameters that maximize the explained variance (r² value) of the dependent construct. therefore, this method supports goal-oriented in predicting the target construction in the structural model. in addition, this research is also complex research since it has many constructs and indicators, so the pls-sem method is more appropriate for the research (hair et al., 2016). evaluation of the measurement model or outer model is carried out to assess the validity and reliability of the model. the outer model with reflexive indicators is evaluated through convergent validity and discriminant validity of the latent construct forming indicators and composite reliability and cronbach alpha for the indicator block. validity testing can be seen from the factor loading value for each construct indicator. the rule of thumb used is the factor loading value must be greater than 0,7 to be valid. the next process is discriminant validity testing, namely by comparing the average variance extracted (ave) value for each variable with 0,5 as the rule of thumb to be declared valid (ghozali & latan, 2015). after testing the validity, it is continued with reliability testing using the results on composite reliability. the rule of thumb used is that the composite reliability value must be greater than 0,7 to be said to be reliable. it can be concluded that testing at the outer model stage is by testing the validity based on the value of factor loading, and average variance extracted (ave). then proceed with reliability testing based on the value of composite reliability. evaluation of the structural model or inner model aims to predict the effect between latent variables. the inner model is evaluated by looking at the value of r-squared to see the magnitude of the influence. in addition, determining the occurrence of influence between these variables is determined based on the t-statistics value compared to the t-value. the t-value of 1,96 is used for an error rate of 5%. if the resulting t-statistics value is not greater than the t-value, it can be concluded that there is no effect between these variables. the results of the t-statistics value can be seen in the path coefficient section. the results of the t-statistics are also in line with the p-value generated at the processing output (ghozali & latan, 2015). the significance level used in the research is 95% with a margin of error of 5%. this indicates that the significance value (p-value) should not be greater than 0,05 to state that the hypothesis can be accepted. furthermore, the t-value that must be achieved must be greater than 1,96 so that the hypothesis can be considered to have a significant effect. iii. results and discussions the questionnaire was successfully distributed to 311 respondents online using the google form, but only 247 respondents have the criteria that match the target respondents in the research. 86 the winners, vol. 23 no. 1 march 2022, 81-93 the convergent validity test in table 1, all items have met the results of the convergent validity test because the ave value is > 0,5 and the factor loading value is > 0,7 so that all items are declared valid. based on the results of the reliability test in table 2, all items have composite reliability > 0,7 so all items are declared reliable. the results of the discriminant test can be seen in table 2. based on the results of the discriminant validity test, the value of the square root of the ave in each variable is greater than the correlation construct. based on the data on the characteristics of the respondents, it is known that the respondents are dominated by women on 59% and the age range of 25 28 years living in greater jakarta. as many as 38% of respondents work as private employees with an average monthly income ranging from idr 5.000.000 to idr 10.000.000 with an average monthly expenditure for transactions on the c2c e-commerce platform ranging from idr 500.000 up to idr 1.000.000. in the past month, 72% of respondents admitted that they made transactions on the c2c e-commerce platform at least one to three times, of which 58% preferred shopee to other c2c e-commerce platforms. the results of data processing on the value of the coefficient of determination (r2) on the e-loyalty variable is 0,563. the result in table 3 shows that the e-loyalty variable can be explained through the table 1 outer model variabel item factor loading composite reliability ave customization (cus) cus1 0,791 0,888 0,614 cus2 0,803 cus4 0,791 cus5 0,759 cus6 0,771 contact interactivity (ci) ci1 0,832 0,869 0,689 ci3 0,857 ci4 0,801 cultivation (cul) cul1 0,794 0,860 0,605 cul2 0,830 cul3 0,810 cul4 0,825 care (car) car1 0,732 0,888 0,664 car2 0,769 car3 0,798 car4 0,811 community (com) com2 0,780 0,855 0,596 com3 0,805 com4 0,803 com5 0,745 choice (cho) cho1 0,774 0,829 0,617 cho2 0,800 cho4 0,783 convenience (con) con1 0,790 0,835 0,628 con2 0,783 con3 0,804 character (cha) cha1 0,778 0,864 0,614 cha2 0,782 cha3 0,714 cha4 0,810 e-loyalty (el) el1 0.752 0,923 0,601 el2 0,783 el3 0,805 el6 0,799 el7 0,790 el8 0,796 el9 0,718 el10 0,752 87the determinant factors of e-loyalty.... (fernanda losaura, et al.) variables of customization, contact interactivity, cultivation, care, community, choice, convenience, and character by 56,3%, while the remaining 43,7% is explained by other variables not examined in the research. the significance level in the research is 95% with a margin of error of 5%. the results in table 3 show that there are seven accepted hypotheses and nine rejected hypotheses. in line with sukmongkol et al. (2019), rao and kothari (2017), and khan and rahman (2016) explaining that customization, contact interactivity, cultivation, community, and convenience affect e-loyalty on e-commerce platforms. moreover, gender is able to have a moderating effect on each of the effects of customization and community on e-loyalty. furthermore, the results of testing the moderating effect of gender variables using the partial least square multi-group analysis (plsmga) methods in table 4, show a significant difference in the customization variable to e-loyalty (p-value <0,05) and the community variable to e-loyalty (p-value < 0,05). hypothesis 1 states that customization has a positive effect on e-loyalty because the t-value or t-statics is > 1,96, which is 2,334. meanwhile, p-value < 0,05, which is 0,020 indicates a significant positive effect between customization and e-loyalty. the result is in line with sukmongkol et al. (2019), hendrian (2012), srinivasan (2002), hendrian (2012) showing that customization has positive influence on e-loyalty. sukmongkol et al. (2019) also explain that customization is an important variable in measuring the success of e-loyalty of an electronic platform. customization does not have a positive table 2 discriminant validity ca cha cho com ci con cul cus el ca 0,778 cha -0,368 0,722 cho 0,568 -0,527 0,786 com -0,524 0,669 -0,482 0,784 ci -0,351 0,06 -0,432 0,081 0,830 con 0,637 -0,511 0,601 -0,552 -0,362 0,793 cul -0,539 0,594 -0,407 0,763 0,093 -0,577 0,815 cus -0,633 0,411 -0,414 0,545 0,241 -0,503 0,738 0,783 el -0,604 0,444 -0,562 0,454 0,439 -0,692 0,464 0,388 0,775 table 3 hypothesis testing result hypothesis path path coefficient t statistics p value summary h1 cus -> e-loyalty 0,181 2,334 0,020 accept h1 h2 ci -> e-loyalty 0,215 3,777 0,000 accept h2 h3 cul -> e-loyalty 0,242 3,233 0,001 accept h3 h4 ca -> e-loyalty 0,260 1,694 0,091 reject h4 h5 com -> e-loyalty 0,359 4,591 0,000 accept h5 h6 cho -> e-loyalty 0,026 0,717 0,205 reject h6 h7 con -> e-loyalty 0,120 2,017 0,044 accept h7 h8 cha -> e-loyalty 0,007 1,224 0,221 reject h8 table 4 hypothesis testing result for moderating effect hypothesis path male female diff p-value summary path coeff. t stat p-value path coeff. t stat p-value h9 cus -> e-loyalty -0,355 1,866 0,06 0,219 2,180 0,030 0,580 0,020 accept h9 h10 ci -> e-loyalty 0,184 0,144 0,151 0,336 3,744 0,000 0,152 0,328 reject h10 h11 cul -> e-loyalty -0,494 2,483 0,013 -0,187 2,311 0,021 0,307 0,164 reject h11 h12 ca -> e-loyalty 0,066 0,338 0,736 -0,120 1,008 0,314 -0,185 0,420 reject h12 h13 com -> e-loyalty 0,289 2,008 0,045 -0,115 1,086 0,278 -0,404 0,028 accept h13 h14 cho -> e-loyalty 0,009 0,067 -0,230 3,114 3,114 0,002 -0,240 0,109 accept h14 h15 con -> e-loyalty -0,021 0,154 -0,220 2,679 2,679 0,008 -0,203 0,216 accept h15 h16 cha -> e-loyalty 0,024 0,186 0,115 1,037 1,037 0,300 0,091 0,555 accept h16 88 the winners, vol. 23 no. 1 march 2022, 81-93 effect on e-loyalty for men because the resulting p-value is greater than 0,05, which is 0,063, but on the contrary for women where customization has a positive effect on e-loyalty since the resulting p-value is 0,03, which turns out smaller than 0,05. the p-value generated in the pls-mga test for gender is smaller than 0,05, namely 0,018 indicating a significant difference between the male and female groups. from the results of the pls-mga test, it is concluded that gender can have a moderating effect on the effect of customization on e-loyalty. these results indicate that the gender variable can moderate the effect of different experiences or personalization perceived by customers on e-loyalty on c2c e-commerce platforms. gender is one of the most frequently used segments to understand customer behavior in online shopping (pereira et al., 2016). khan and rahman (2016) show that gender can moderate the effect of e-tail brand experience on e-loyalty, where the experience includes different offers for each customer or custom (customization). gender is also found to be able to moderate the effect of personalization experience on e-loyalty (pandey & chawla, 2018). hypothesis 2 states that contact interactivity has a positive effect on e-loyalty because the t-value or t-statics is > 1,96, which is 3,777. meanwhile, p-value < 0,05, which is 0,000 indicates a significant positive effect between contact interactivity on e-loyalty. the results of this hypothesis test are in line with several previous studies from jiang, jun, and yang (2015) and srinivasan et al (2002) which show that contact interactivity has a positive effect on e-loyalty. contact interactivity does not have a positive effect on e-loyalty for men because the resulting p-value is greater than 0,05, which is 0,151, but on the contrary for women where contact interactivity has a positive effect on e-loyalty because the resulting p-value is 0,00, smaller than 0,05. the p-value generated in the pls-mga test for gender is greater than 0,05, namely 0,328 indicating that there is no significant difference between the male and female groups. from the results of the pls-mga test, gender cannot provide a moderating effect on the effect contact interactivity on e-loyalty. the results of the hypothesis test are supported by the research of sugianto (2017), which explains that both male and female customers are equally concerned with interactions with e-commerce platforms, especially when they encounter problems or difficulties. hypothesis 3 states that cultivation has a positive effect on e-loyalty because the t-value or t-statics is > 1,96, which is 3,233. meanwhile, p-value < 0,05, which turns out to be 0,001 indicates a significant positive influence between cultivation and e-loyalty. in line with what is explained by teigland et al. (2018) that cultivation shows the extent to which companies can provide relevant information and incentives to persuade customers to make more purchases. the results of this hypothesis test are in line with previous studies from srinivasan et al. (2002) and rao and kothari (2017), who show that cultivation has a positive influence on e-loyalty. cultivation has a positive effect on e-loyalty for men as the resulting p-value is smaller than 0.05, which is 0,013. similarly for women, contact interactivity has a positive effect on e-loyalty because the resulting p-value is 0,021. the p-value generated in the pls-mga test for gender is greater than 0,05, namely 0,164 which indicates there is no significant difference between the male and female groups. seeing results of the pls-mga test, gender cannot provide a moderating effect on the effect cultivation of e-loyalty. the results contradict the research by khan & rahman (2016) and pandey & chawla (2018) but supported by goel (2018) and pitchayadejanant & nakpathom (2016). goel (2018) explains that the absence of a moderating effect of gender can be caused by the development of technology and customer behavior that is increasingly fast and digital savvy. hypothesis 4 states that care does not have a positive effect on e-loyalty because the t-value or t-statistics is < 1,96, which is 1,694. meanwhile, p-value turn out to be 0,091, which is greater than 0,05, indicating that there is no significant positive effect between care and e-loyalty. this is contrary to srinivasan et al. (2002) and jiang et al. (2015) but is in line with li et al. (2015), who find and point out that care does not affect e-loyalty due to other variables that considered more important for customers such as affordable prices. in addition, saini et al. (2019) also supports the results that errors and unresponsive attitudes of e-commerce (care) do not affect customer repurchase of the e-commerce. the research explains that customers tend not to have high expectations from e-commerce so that errors and deficiencies that occur do not affect their intention to repurchase as long as the required product is available in the e-commerce. care does not have a positive effect on e-loyalty for men because the resulting p-value is greater than 0,05, which is 0,736, as well as for women where care does not have a positive effect on e-loyalty since the resulting p-value is greater than 0,05, which is 0,314. the p-value generated in the pls-mga test for gender is 0,420, which is found greater than 0,05. it indicates that there is no significant difference between the male and female groups. the pls-mga test shows that gender cannot have a moderating effect on the effect of care on e-loyalty. according to ratnasari et al. (2020), the same perception between male and female customers impacts in absence of gender moderation on the effect of care on e-loyalty. sensitivity regarding payment and delivery is usually moderated by the variable age, where customers at an older age and less accustomed to transacting online have higher concerns than customers at a younger age (acheampong et al, 2017). in addition, respondents are dominated by those whose last education is bachelor's degree (77%) and master's degree (16%). it can be concluded that the respondents have higher education and good knowledge to probably look for information and make payments on the e-commerce platform or overcome the problems on the e-commerce platform. based on the results of the interview, it is found that the seller 89the determinant factors of e-loyalty.... (fernanda losaura, et al.) is a more important factor to be more responsive than the e-commerce platform. both male and female respondents also have the same opinion, so this can also be a factor in the absence of the effect of the care variable on e-loyalty, and the absence of a moderating effect of the gender variable from this influence. hypothesis 5 states that community has a positive influence on e-loyalty because the t-value or t-statics is > 1,96, which is 4,591. meanwhile, the p-value < 0,05, which is 0,000 indicates a significant positive influence between the community on e-loyalty. yoo et al. (2013) explain that the community for an e-commerce is a supporter of interaction between fellow customers, where they are the most trusted source of information. as fellow customers, they exchange information that is relevant to the product or the problem at hand. the results of this hypothesis test are in line with srinivasan et al. (2002) and perera, nayak, and long (2019) which show that community has a positive influence on e-loyalty. community has a positive influence on e-loyalty for men because the resulting p-value is smaller than 0,05, which is 0,045. on the contrary for women, community does not have a positive influence on e-loyalty because the resulting p-value is 0,278, which obviously known to be greater than 0,05. the p-value generated in the pls-mga test for gender is smaller than 0,05, namely 0,028 which indicates a significant difference between the male and female groups. it is concluded that gender can have a moderating effect on the influence of community on e-loyalty. the result are in line with khan & rahman (2016), pandey & chawla (2018) and sahli (2018), who find that there is a moderating effect of gender variables on the influence of community on e-loyalty on e-commerce platforms. sahli (2018) explains that there are different responses from male and female customers in responding to product reviews available on e-commerce. female customers are considered more social-connected, so the information obtained through the community greatly influences the purchasing decisions, and will have an impact on their e-loyalty on certain e-commerce platforms. hypothesis 6 states that there is no positive effect of choice towards e-loyalty because the t-value or t-statistics is < 1,96, which is 0,363. meanwhile, p-value > 0,05, namely 0,717 indicates that there is no significant positive effect of choice on e-loyalty. the result is supported by sardinha (2015) and moralessolana, cotas, and esteban-millat (2019), who point out that choice cannot affect e-loyalty on e-commerce platforms. it is explained that customers who want to buy a certain item usually will not depend on only one c2c e-commerce platform, so it is very possible for them to look for the product on several c2c e-commerce platforms. furthermore, customers are more likely to see the affordability of the price offered for this item. choice does not have a positive effect on e-loyalty for men because the resulting p-value is 0,946, greater than 0,05. on the contrary, for women, choice has a positive effect on e-loyalty because the resulting p-value is smaller than 0,05, namely 0,002. the p-value generated in the pls-mga test for gender is greater than 0,05, namely 0,109. it indicated there is no significant difference between the male and female groups. hence, it is concluded that gender cannot have a moderating effect on the choice of e-loyalty. the results are supported by jung & shin (2019) and sardinha (2015). the advanced stage, after choosing a product, has a more vital role to create customer e-loyalty (solana et al., 2019). this can be a factor in the absence of influence of the choice variable on e-loyalty on the c2c e-commerce platform. the interview with respondents shows that there are other factors causing the absence of the influence of the choice on e-loyalty and the absence of a moderating effect of the gender variable. both male and female respondents tend to already have e-commerce platforms and subscription sellers to visit for specific product categories. in addition, respondents also tend to prioritize the ease of finding information and using the platform. hypothesis 7 states that convenience has a positive effect on e-loyalty because the t-value or t-statics is > 1,96, which is 2,017. meanwhile, p-value < 0,05, which is to 0,044. there is a significant positive influence between convenience and e-loyalty. the finding is supported by srinivasan et al. (2002), who point out that a convenient e-commerce platform will also minimize the possibility of customers making mistakes and will provide a more satisfying experience, where the results of this satisfaction can have an influence on e-loyalty from customers. convenience does not have a positive effect on e-loyalty for men because the resulting p-value is greater than 0,05, which is 0,878. in contrast, for women convenience has a positive effect on e-loyalty because the resulting p-value is smaller than 0,05, namely 0,008. the p-value generated in the pls-mga test for gender is greater than 0,05, namely 0,216 indicating that there is no significant difference between the male and female groups. it is concluded that gender cannot have a moderating effect on the effect of gender convenience to e-loyalty. hypothesis 8 states that the character does not have a positive effect on e-loyalty because the t-value or t-statics is < 1,96, which is 1,224. meanwhile, p-value of 0,221, greater than 0,05, indicates that there is no significant positive effect between characters on e-loyalty. nugroho et al. (2015) explain that the character variable cannot affect e-loyalty on the e-commerce platform. e-commerce customers are divided into two segment groups, namely goal-oriented shoppers and experiential shoppers. the character variable has no effect on e-loyalty for experiential shoppers since they are a group of customers who consistently browse on e-commerce platforms and really enjoy time looking for products. character does not have a positive effect on e-loyalty for men because the resulting p-value is greater than 0,05, which is 0,853. for women, the resulting p-value is greater than 0,05, which is 0,300 indicating that the character does not have a positive effect on e-loyalty. the p-value 90 the winners, vol. 23 no. 1 march 2022, 81-93 generated in the pls-mga test for gender is greater than 0,05, namely 0,555, so there is no significant difference between the male and female groups. it can be concluded that gender cannot have a moderating effect on the effect character towards e-loyalty. iv. conclusions there is an effect of each variable of customization, contact interactivity, cultivation, community, and convenience on e-loyalty on the c2c e-commerce platform. community is the variable that has the greatest influence on e-loyalty compared to other 8c's framework variables. however, there is no effect of each care, choice, and character variable on e-loyalty on the c2c e-commerce platform. there is a moderating effect on customization and community variables in influencing e-loyalty on the c2c e-commerce platform. to be loyal, male and female customers have preferences regarding customization and community. information is important for male customers before purchasing products online. meanwhile, female customers are more emotional where they want to feel the understanding of the e-commerce platform to themselves personally about who they are and what they need (szymkowiak & garczarek-bąk, 2018). female customers enjoy shopping activities more as an impressive experience and entertainment, so they spend more time on e-commerce platforms, in contrast to male customers who tend to want fast, instant and practical things (chiu et al., 2019). female customers enjoy the community as a form of concern between customers related to their experience when shopping for a product, in contrast to male customers who like community because they can obtain accurate and most honest information related to the product to be purchased (rebelo, 2017). the research argues that female customers can be stimulated by an emotional experience to create e-loyalty, while male customers can be stimulated by a quick and practical experience. personalization or customization can be done by giving different treatment between male and female customers. this can be in the form of designs, product category recommendations, different product offerings and recommendations. for female customers, customization can be done through website design that can provide an emotional experience through appropriate colors. for male customers, e-commerce should provide relevant information so that they can obtain information quickly and easily. the ease of using and obtaining information is an element that can be provided by e-commerce businesses. e-commerce can create an easy-to-navigate platform design, clear and easily accessible features, contact support to help customers when experiencing difficulties, and frequently asked questions (faq) feature. appropriate offers and recommendations are also things that can be optimized by e-commerce businesses since they may help customers to get products. in addition, it can also help e-commerce businesses to increase sales. product offerings can be done in the form of complementary or substitute goods in accordance with previous customer purchases or searches. community is a variable with the highest path coefficient value, so it is important to be considered properly by businesses to be able to create a community in a form of interaction and exchange of trusted information between fellow customers. by conducting online transactions, the consideration made by customers is more than offline shopping in which they can directly see and get the product. for female customers, a community can be created by providing a discussion forum for customers related to their experience of buying certain products. meanwhile, male customers can be provided a column to write a review and rating of a product. in addition, sellers can provide clear details and descriptions of the products. the research limitation lies on using gender as a moderating variable. hence, it is suggested that further research add other demographic variables such as age, income, and so forth. there are differences in product categories that are often purchased by male and female customers. different product categories can influence various decision making in searching for information related to products and purchases, so that 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(eds.), hci in business, government and organizations. supporting business. https://doi.org/10.1007/978-3319-58484-3_10 microsoft word 03_mn_mapping the customer experience-a2t.doc mapping the customer experience …… (jerry marcellinus logahan; dkk) 15  mapping the customer experience management strategies for customer loyalty in retail hypermarket jabodetabek jerry marcellinus logahan1; janita sembiring meliala2; iskandar putong3 1, 2, 3management department, school of business management, binus university jln. k.h. syahdan no. 9, palmerah, jakarta barat 11480 1jerrymarcellinus@yahoo.com; 2ycs366@yahoo.com; 3xanderputong@gmail.com abstract today, competition in the global market has become increasingly difficult and and at the same time products and services provided by retail companies tend to be similar. so in such circumstances, customers expect not only satisfied with the products and services, but also the pursuit of the perfect shopping experience during the shopping process. the purpose of this study was to devise a customer experience management strategy at a hypermarket retailer carrefour, hypermart, giant, and lotte mart. both overall and per hypermarket retail chains that have the same character. the method used is factor analysis, multi dimension scaling (mds). the object of research is the hypermarket retail customers in jakarta, bogor, depok, tangerang and bekasi to sample 360 people. the results of mds mapping cem variable per retail hypermarket retail hypermarket seen no one who is in the first quadrant in which the dimensions 1 and 2 positive namely giant hypermarket retail. tthere are three retail hypermarket located in quadrant 2 wherein the dimensions of 1 positive and 2 negative dimension namely retail carrefour, hypermart and lotte mart. in mds can be classified group 1 are the outlets; group 1 are gps (giant plaza semanggi), clb (carrefour lebak bulus), cph (carrefour permata hijau) and hpv (hypermart pejaten village) which leads to a positive value. while other outlets in group 2 are ccb (carrefour cibinong bogor), gbt (giant bsd tangerang), gmd (giant margo city depok), hpb (hypermart pondok gede bekasi), hjt (hypermart jacc thamrin), lrp (lotte mart ratu plaza), lkg (lotte mart kelapa gading), lf (lotte mart fatmawati) have in common in the lower quadrant (negative). keywords: utilitarian shopping value, hedonic shopping value, customer experience management, customer satisfaction, customer loyalty abstrak persaingan saat ini di pasar global telah menjadi makin sulit dan pada saat yang sama produk dan layanan yang diberikan oleh perusahaan cenderung sama yaitu ritel hypermarket. jadi dalam keadaan seperti itu, pelanggan mengharapkan tidak hanya puas dengan produk dan layanan, tetapi juga mengejar pengalaman belanja yang sempurna selama proses belanja. penelitian bertujuan untuk merancang strategi manajemen pengalaman pelanggan di toko hypermarket carrefour, hypermart, giant, dan lotte mart. baik secara keseluruhan maupun per rantai ritel hypermarket yang memiliki karakter yang sama. metode yang digunakan adalah analisis faktor, multi dimensi scaling (mds). objek penelitian adalah pelanggan ritel hypermarket di jakarta, bogor, depok, tangerang dan bekasi untuk sampel 360 orang. hasil pemetaan mds variabel cem per retail hypermarket, dengan kuadran 1 dan 2 mempunyai dimensi positif adalah retail hypermarket giant. tiga retail hypermarket berada pada kuadran 1 positif dan 2 negatif yaitu carrefour, hypermart dan lotte mart. berdasarkan hasil penelitian mds dapat diklasifikasikan grup 1 adalah outlet gps (giant plaza semanggi), clb (carrefour lebak bulus), cph (carrefour permata hijau) and hpv (hypermart pejaten village) punya nilai positif. group 2 adalah ccb (carrefour cibinong bogor), gbt (giant bsd tangerang), gmd (giant margo city depok), hpb (hypermart pondok gede bekasi), hjt (hypermart jacc thamrin), lrp (lotte mart ratu plaza), lkg (lotte mart kelapa gading), lf (lotte mart fatmawati) nilai negatif. kata kunci: nilai belanja utilitarian, nilai belanja hedonik, manajemen pengalaman pelanggan, kepuasan pelangggan, loyalitas pelanggan 16 journal the winners, vol. 16 no. 1, march 2015: 15-24  introduction currently, competition in the global market has become increasingly difficult and at the same time products and services provided by retail companies tend to be similar. so in such circumstances, customers expect not only satisfied with our products and services, but also the pursuit of the perfect shopping experience during the shopping process. the development of people's lifestyles are changing so fast these days and similar to the modern shopping trends, especially in the upper-income. the process of shopping is no longer just to buy the necessary products (utility) but also for recreational activities (hedonic). this has been a part in driving the development of the retail industry. these opportunities are capitalized by the retailer in the country with an aggressive expansion of the network their hypermarket retail outlets in indonesia. despite this growing retail growth so fast, in reality, consumers often have a less satisfactory experience in the process of shopping in the retail industry in indonesia. whereas, in the competitive retail industry in indonesia, especially retail hypermarkets, like carrefour, hypermart, giant, and lotte mart that has been professionally managed, should be able to provide optimal service to its customers. in reality there are still many shortcomings in meeting customer satisfaction and customer loyalty in the retail shop hypermarket in indonesia as in miharja (2010). looking at the trend of increased spending in retail hypermarket but on the other side of customer satisfaction and loyalty are also quite large. for this reason the author would like to see how the position hypermarket outlets in greater jakarta in serving customers in order to increase customer satisfaction and loyalty by making maps and hypermarket retail strategy in greater jakarta (jabodetabek—jakarta, bogor, depok, tangerang, bekasi). this research is expected to be a trigger to develop customer loyalty for the user of retail hypermarket in jabodetabek. the data used were data in 2013, assuming the data obtained from the customer experience ever shopped in retail hypermarket (carrefour, giant, hypermart, lotte mart) in greater jakarta, the estimated results can be representative of the overall response overall hypermarket retail customers. of the four retail hypermarket, 3 retail outlet samples are taken at random (random) and each outlet 30 customers. so taken the total number of respondents was 360 respondents. answers from respondents will be in the rankings and will be processed in a multi dimention scaling (mds). from there, it will be mapped position of each retail hypermarkets and also from each retail outlet hypermarket. from the result processed, this data will be input for hypermarket retailers and for further research. field of science and quantitative analysis involved in this study include the fields of business statistics, management science, especially marketing management. the researchers of customer experience revealed customer experience management concept model with a size of eight indicators; they are social environment, service interfaces, retail atmosphere, assortment, price, customer experience in alternative channels, retail brand and customer experience (verhoef et al., 2009). this article was written on the basis of a holistic research literature called "the scarcity of systematic scholarly research" that develops understanding of the customer experience management concept. this concept is also widely used by other researchers who examined the customer experience management. the weakness of this study is yet to be proven applicable in a real world of retail businesses. however, the size of the indicators used by verhoef et al. (2009) is inspiring and it can be used by researchers in entering a dimension of cem indicator. while puccinelli et al. (2009) revealed how the concept of cem can improve customer satisfaction and retail performance. it is just that this study also only use research literature that are linked to consumer behavior with a psychological approach in the decision making process of consumers in the united states. this concept has not been proved applicable in the retail world (puccinelli et al., 2009), this is how the concept of cem can be mapping the customer experience …… (jerry marcellinus logahan; dkk) 17  used in research in retail real world. it is also inspired to use this concept in the retail industry of cem (puccinelli et al., 2009) that reveals the importance of the use of marketing and financial strategies using the concept of customer experience management in the retail industry in america. cem can have an impact on improving customer satisfaction, increasing purchase frequency, increasing customer spending, and could eventually create a retail company experienced gains. however grewal, levy, and kumar (2009) used the concept verhoef et al. (2009) and puccinelli et al. (2009) in a research article, which based on the research literature. so the concept of cem here has not been examined in accordance with the existing retail activities. in addition this paper is to view that the concept of cem can be used as a draft strategy in the retail industry to win the competition (grewal et al., 2009). yang and he (2011) revealed the experience that customers have a relationship and influence on customer intention in the retail industry in china. yang and he (2011) used structural equation model (sem) with 300 retail consumers in china as respondent. yang and he (2011) conducted an analysis tool confirmatory factor analysis (cfa) to see the effect utilitarian and hedonic goal oriented goal oriented towards sensory experience, emotional experience, and social experience and its impact on purchase intentions. a study conducted by claeys and roozen (2012), using "different constructing scenarios" methodology, tried to answer how to influence emotional and functional customer to customer experience and its impact on satisfaction, recommendation, and retail’s customer loyalty in brussels. the study was not a quantitative research and actual application that cannot directly visible. it was found that functional experience has a negative effect on satisfaction, loyalty, and recommendation (claeys & roozen, 2012). while the emotional experience has significant influence on satisfaction hedonic, loyalty, and recommendation. the results were used to investigate quantitatively using multi dimensional scaling (mds) with a variable which is similar to this study. results of the analysis of this study are expected to be the input to formulate a strategy for the evaluation of hypermarket retailers in greater jakarta. only claeys and roozen (2012) did a research using sem and did not create a mapping with cem concept to retail in brussels, so that less can be used by retailers as a strategy to be competitive in the retail industry in brussels. research conducted by wijaithammarit and taechamaneestit (2012) revealed the influence of customer experience management on customer affection and customer cognition and its impact on customer satisfaction and customer loyalty. wijaithammarit and taechamaneestit (2012) used path analysis and a sample 1200 respondents of retail customers in thailand. the research found that all have a positive effect on customer affection between cem as well as on customer cognition and also have an impact on customer satisfaction and customer loyalty. another study by ceribeli, merlo, senesi, and palau (2012) identified and compared main items that form part of the consumer experience and affect the retail consumer satisfaction in supermarkets in brazil and argentina in order to achieve a defined objective, the field survey. for data analysis, two multiple regressions were performed in which one for each group of individuals of the same nationality. it was observed the way of products arranged and displayed in the store, and the perception of quality, which are essential for both the argentine and brazilian consumers. it was also found that the physical appearance of the store environment is more appreciated by brazilian consumers; while the prices, opening hours, and relationships with store employees are more important for argentine consumers. this study showed that although both geographically adjacent countries and with the same culture, there is a significant difference between the behavior of consumers in brazil and argentina, which should be considered by the supermarket chains that operate or plan to operate in the countries of south america. the main managerial implications of this 18 journal the winners, vol. 16 no. 1, march 2015: 15-24  research are the need for a supermarket retailer that operates in various countries in south america has to adjust their retail marketing mix to meet different consumer needs, to take into account the specific city associated with socio-economic and cultural contexts. method this research described and explained the precise and clear position of the concept of customer experience management strategy (cem). subject of this research is retail hypermarket in indonesia, such as carrefour, hypermart, giant, and lotte mart, while object of this research is customer in greater jakarta area from august 2013 to january 2014 (six months). this study used a quantitative design on factor analysis, multidimensional scaling analysis (mds), and causality between utilitarian and hedonic values that influence the management of the customer experience and its impact on customer satisfaction and customer loyalty by using sem analysis in retail hypermarket like carrefour, hypermart, giant, and lotte mart outlets in greater jakarta. in practice, this study used survey by questionnaire to obtain data from research subjects in a relatively short period of time. the unit of analysis used was individual, i.e. hypermarket retail customers in greater jakarta. moreover, time observation was cross-sectional, that the data were taken only once (sekaran, 2006). this research used secondary data, obtained from literature and field by collecting data from interview and questionnaire. mapping analysis and cem strategy in retail hypermarket in jabodetabek needed to perform the following steps. the first is initial data collection of respondents of retail hypermarket customers in the greater jakarta; the second, grouping dimension of cem variable by using factor analysis; the third, mapping the questionnaire results from variable cem customers using mds analysis. in this study, ict components become part of the dimensions of efficiency driven and innovation-driven dimensions which were used also in the concept of customer experience management. the research will show how ict was used as research tools (spss 19, mds). data collection questionnaire could be used through direct field collection already written in the questionnaire so that confidential questionnaire results can be justified. tabulation of data processing was done through the use of ms excel and data processing analysis of factor analysis using spss and multidimensional scaling (mds) and performance important matrix (pim) through the application spss22. ict as a research area included the use of concepts such as e-commerce, mobile advertising, and cloud technology. the concepts of technology and innovation using the concepts related to the area of ict. characteristics of the data or the respondent were all hypermarket retail customers during the year 2012/2013 in jabodetabek, with the provision (inclusive criteria for respondents) as follows: adult (over 18 years), married (family: couples without children, couples with children and no grandchildren, couples with children and grandchildren, single parent), education at the top of smu (educated/uneducated). population taken as sample stratified random sampling in which the selection of sample member elements where the population was broken down into smaller population, called the stratum ask and each stratum must be homogeneous or relatively homogeneous. each stratum as sample taken at random to make estimation that represents the corresponding stratum (supranto & limakrisna, 2012). each hypermarket retail outlets in greater jakarta in total of minimum 30 respondents at each outlet was taken as a rule of thumb like roscoe in (sekaran, 2006). three hypermarket retail outlets were multiplied by 30 respondents each outlet, and it became 90 respondents for each hypermarket retail customers. so overall, sample size of the respondents was 360 respondents from 4 retail hypermarkets and was multiplied by 90 respondents of hypermarket retail customers in the greater jakarta, consisting of: mapping the customer experience …… (jerry marcellinus logahan; dkk) 19  table 1 sample location and number of respondents no retail hypermart location number 1 carrefour lebak bulus 30 permata hijau 30 cibinong 30 2 giant plaza semanggi 30 bumi serpong damai, tangerang 30 margo city depok 30 3 hypermarket mall pejaten village 30 jacc thamrin plaza 30 pondok gede mall bekasi 30 4 lotte mart mal kelapa gading 30 fatmawati 30 ratu plaza 30 total 360 picture data processor with up to mapping cem variable in mds in retail hypermarket in indonesia as well as the analysis of the advantages of each retail hypermarket in indonesia are as follows: (1) the response of two-dimensional grouping that has been analyzed, new data will be included in the mapping of each retail hypermarket carrefour, hypermart, giant and lotte mart into the retail map configuration of hypermarkets in the greater jakarta. (2) the results of the mapping can be shown from each retail hypermarket carrefour, hypermart, giant and lotte mart are depicted in two-dimensional map in the picture. (3) the results of this mapping can also indicate from each retail outlet hypermarket carrefour (lebak bulus, itc permata hijau, cibinong bogor) hypermart hypermarket retail outlets (mall pejaten village, jacc thamrin plaza, pondok gede mall bekasi), giant hypermarket retail outlets (earth serpong damai, plaza semanggi, margo city depok), hypermarket retail outlets lotte mart (mal kelapa gading, fatmawati, ratu plaza). results and discussion the first is the mapping variable of cem per retail hypermarkets (carrefour, giant, hypermart, and lotte mart). 20 journal the winners, vol. 16 no. 1, march 2015: 15-24  figure 1 mapping variable cem in retail hypermarket source: result data processing (2014) from figure 1, group 1 (mds) for the x (positive) and y (positive) is a giant group 2 (mds), for the x (positive) and y (negative) is carrefour, hypermart, and lotte mart. retail hypermarket in jabodetabek from cem variable that meets the x and y are positive it turns out is the giant hypermarket retail. while, retail hypermarket carrefour, hypermart and lotte mart are x (positive) but the y (negative). mapping retail hypermarket in jabodetabek judging from two variables: customer experience management (cem) with customer satisfaction (cs) using the important performance matrix (pim) of spss 22 then seen the map below. for mapping on the basis of the hypermarket retail outlets cem variables are as follows. figure 2 mapping variable cem in outlet retail hypermarket source: result data processing (2014) mapping the customer experience …… (jerry marcellinus logahan; dkk) 21  from figure 2 can be found to analysis of cem variable angle dimensions1 (x) and the second dimension (y) can be described as follows: (1) dimension 1: getting to the right (positive) number one greater dimension. looks almost all outlets more in the direction to the right and there is no one on the left (negative). this means that all outlets for y9 indicator (supermarket brand), y15 (recommendation), y17 (product exchange) and y23 (number of people in the store) is good. in this case there are no outlets are included in dimension 1 negative. (2) dimension 2: getting to the top of figure 2 the greater dimension. there are 4 outlets are located in the upper quadrant (positive) 2 dimensions, namely gps (giant plaza semanggi), clb (carrefour lebak bulus), cph (carrefour permata hijau) and hpv (hypermart pejaten village) which leads to a positive value, which means outletthis outlet has indicators y1, y6, y9, y12, y13, y15, y17, y19, y20, y21, y22, y23, y25 and y30 good. while other outlets that ccb (carrefour cibinong bogor), gbt (giant bsd tangerang), gmd (giant margo city depok), hpb (hypermart pondok gede bekasi), hjt (hypermart jacc thamrin), lrp (lotte mart ratu plaza), lkg (lotte mart kelapa gading), lf (lotte mart fatmawati) have in common in the lower quadrant (negative), which means having the indicator y2 (security of store), y3 (security of parking), y4 (layout), y5 (front of the shop) , y7 (offers), y8 (confidence in retail), y10 (quality of product), y11 (freshness of products), y14 (display of products), y16 (own brand), y18 (in store design), y24 (new products), y26 (fast food), y27 (opening hours), y29 (depth of the assortment) were negative. of group 1 (mds) for cem variable visible all hypermarket retail outlets located in jakarta, while the group 2 (mds) mostly dominated by hypermarket retail outlets located outside jakarta either from retail carrefour, giant and hypermart. only lotte mart hypermarket retail outlets from jakarta included in group 2 (mds). while other outlets that ccb (carrefour cibinong bogor), gbt (giant bsd tangerang), gmd (giant margo city depok), hpb (hypermart pondok gede bekasi), hjt (hypermart jacc thamrin), lrp (lotte mart ratu plaza), lkg (lotte mart kelapa gading), lf (lotte mart fatmawati) have in common in the lower quadrant (negative). from the 12 studied hypermarket retail outlets, after the analysis using a multi dimension scaling (mds), it can be grouped into two groups consisting of the results of mds each retail hypermarket and hypermarket retail outlets: (1) mapping results of mds each retail hypermarket. from the results of mds mapping cem variable per retail hypermarket retail hypermarket seen no one who is in the first quadrant in which the dimensions 1 and 2 positive namely giant hypermarket retail. and there are three retail hypermarket located in quadrant 2 wherein the dimensions of 1 positive and 2 negative dimension namely retail carrefour, hypermart and lotte mart. (2) mapping results of mds each hypermarket retail outlets. from the results of mds mapping cem variable per hypermarket retail outlets can be divided into two groups where: group 1 are gps (giant plaza semanggi), clb (carrefour lebak bulus), cph (carrefour permata hijau) and hpv (hypermart pejaten village) which leads to a positive value. while other outlets in group 2 are ccb (carrefour cibinong bogor), gbt (giant bsd tangerang), gmd (giant margo city depok), hpb (hypermart pondok gede bekasi), hjt (hypermart jacc thamrin), lrp (lotte mart ratu plaza), lkg (lotte mart kelapa gading), lf (lotte mart fatmawati) have in common in the lower quadrant (negative). customer experience management strategies for each retail hypermarket are as follows. there are two outlets of carrefour in grouping mapping (mds) cem variable carrefour outlets and they are included in quadrant one and group 1 mds where the x and y is positive. only one outlet included in quadrant two or group 2 where the x is positive and the y is negative. for mapping with mds per retailer, carrefour enters in group 2 where the x is positive but y is negative and this has been mentioned before in which carrefour retail outlets are included in quadrant two carrefour only cibinong bogor. since the very low value of carrefour cibinong, it allows influence on mds mapping per retail so retailers carrefour enters in group 2. the fact of customer feedback ever shopped at four retail hypermarket retailer carrefour has demonstrated the highest response. 22 journal the winners, vol. 16 no. 1, march 2015: 15-24  giant when it is mapped in (mds) cem variable per retail, it is included in group 1 where the x and y are positive. in the mds mapping cem variable per outlet 1, giant outlet is in the first quadrant where the x and y are positive. two outlets giant that included in quadrant two the x is positive and the y-axis is negative. it has also been described previously in which the two outlets of giant included in quadrant 2, they are located on the outlet of giant margo city depok, giant bsd tangerang. hypermart that is mapped in cem mds variables per retail is included in quadrant two or group 1 (mds) in which the x is positive and y is negative. in the mds map per outlet 1, hypermart outlets are included in the first quadrant where the x and y are positive. and 2 hypermart outlets are included in the second quadrant where the x is positive and the y is negative. lotte mart that is mapped in mds per retail included in quadrant two or group 1 where the x is positive and y is negative. in the mds map per outlet, 3 outlets lotte mart enters in the second quadrant where the x is positive and the y is negative. it can be seen the retail hypermarket lotte mart cannot compete with third hypermarket retail competitors. this is to answer of research problems and research questions. conclusion this study cannot be separated from various limitations, which the limitation in this study is a recommendation for further research. the limitations of this study are: (1) research constructs that is used in this study, especially in variable utilitarian shopping value and hedonic shopping value to customer experience management customer satisfaction or against, can be replaced with other variables that might be able to measure the effect of a more appropriate for customer experience management strategy. (2) research content can be developed not only in retail hypermarket but in retail supermarkets or minimarket like indomaret, alfamart, etc. the competition is the trend in today's society. (3) the study design is cross-sectional, so hypermarket retail customers behavior change from time to time and it is not able to be explained. (4) the sample in this study is only taken on the location of jabodetabek, whereas if it is taken from small towns across indonesia, the likely result will be different. the benefits of research that states that this research useful like a management company (practical) and for science (theoretical) the suggestions presented are as follows. for retail hypermarket carrefour needs to pay attention to the preparation of the layout of retail space to be fixed, retail entrances should be improved so as to facilitate the customers entering the retail. advertisement needs to be improved both in particular mouth-to-mouth promotion, providing convenience for customers so that customers feel confident what retail is given in accordance with the cool customer from employee retail services that can help customers to be able to find items sought or needed. how to put stuff so easily found by customers, the retailer makes it easy for customers to purchase items needed, the design (color, shape) are interesting in retail hypermarkets. retail provides good air scent, good music, good lighting and a pleasant environment, presence and readiness officer serving customers. either retail, retailers should provide playground facilities for children, should retail space in a fairly wide so it does not look crammed into shopping. retailers provide new goods, give clear signs so that customers easily find the items needed, should provide a fast food outlets, should give time long (longer hours) to customers, so the customers can shop without being chased by hypermarket retail closing time. provide a number of variations goods retailers and brand variations of similar goods that much so that customers can freely choose the items that really needed. retailers can meet the latest expectations of customers shopping in the retail hypermarket by fixing the above items that is expected to increase customer satisfaction and customer loyalty. mapping the customer experience …… (jerry marcellinus logahan; dkk) 23  giant hypermarket retail has a positive value on the x and y and has the advantage of variable customer experience management in solving problems of the retail hypermarket good. it is recommended by others as a good hypermarket and it has a famous brand. while for retail hypermart needs to pay attention to the preparation of the layout of retail space to be fixed, retail entrances should be improved so as to facilitate the customers entering the retail. advertisement needs to be improved both in particular mouth-to-mouth promotion, providing convenience for customers so that customers feel confident what retail is given in accordance with the cool customer from employee retail services that can help customers to be able to find items sought or needed. how to put stuff so easily found by customers, the retailer makes it easy for customers to purchase items needed, the design (color, shape) are interesting in retail hypermarkets. retail provides good air scent, good music, good lighting and a pleasant environment, presence and readiness officer serving customers. either retail, retailers should provide playground facilities for children, should retail space in a fairly wide so it does not look crammed into shopping. retailers provide new goods, give clear signs so that customers easily find the items needed, should provide a fast food outlets, should give time long (longer hours) to customers, so the customers can shop without being chased by hypermarket retail closing time. provide a number of variations goods retailers and brand variations of similar goods that much so that customers can freely choose the items that really needed. retailers can meet the latest expectations of customers shopping in the retail hypermarket by fixing the above items that is expected to increase customer satisfaction and customer loyalty. for the retail hypermarket lotte mart needs to pay attention to the preparation of the layout of retail space to be fixed, retail entrances should be improved so as to facilitate the customers entering the retail. advertisement needs to be improved both in particular mouth-to-mouth promotion, providing convenience for customers so that customers feel confident what retail is given in accordance with the cool customer from employee retail services that can help customers to be able to find items sought or needed. how to put stuff so easily found by customers, the retailer makes it easy for customers to purchase items needed, the design (color, shape) are interesting in retail hypermarkets. retail provides good air scent, good music, good lighting and a pleasant environment, presence and readiness officer serving customers. either retail, retailers should provide playground facilities for children, should retail space in a fairly wide so it does not look crammed into shopping. retailers provide new goods, give clear signs so that customers easily find the items needed, should provide a fast food outlets, should give time long (longer hours) to customers, so the customers can shop without being chased by hypermarket retail closing time. provide a number of variations goods retailers and brand variations of similar goods that much so that customers can freely choose the items that really needed. retailers can meet the latest expectations of customers shopping in the retail hypermarket by fixing the above items that is expected to increase customer satisfaction and customer loyalty. references ceribeli, h. b., merlo, e. m., senesi, s., & palau, h. (2012). a comparative analysis of consumer experience in brazil and argentina. revista alcance, 19(2), 259–272. claeys, c., & roozen, i. (2012). do emotional and functional customer experiences influence customer satisfaction, recommendation and loyalty? journal economic & management, 1(17). grewal, d., levy, m., & kumar, v. (2009). customer experience management in retailing: an organizing framework. journal of retailing, 85(1), 1–14. retrieved from http://www.sciencedirect.com/science/article/pii/s0022435909000025 24 journal the winners, vol. 16 no. 1, march 2015: 15-24  miharja, n. e. (2010). effect of relationship marketing on customer satisfaction and customer loyalty in giant hypermarket maspion square jl. ahmad yani surabaya. upn. puccinelli, n. m., goodstein, r. c., grewal, d., price, r., raghubir, p., & stewart, d. (2009). customer experience management in retailing: understanding the buying process. journal of retailing, 85(1), 15–30. retrieved from http://www.sciencedirect.com/science/article/pii/s0022435908000869 sekaran, u. (2006). metodologi penelitian untuk bisnis (4th ed.). jakarta: salemba empat. supranto, j., & limakrisna, n. (2012). petunjuk praktis penelitian ilmiah untuk menyusun sripsi, tesis, dan disertasi (2nd ed.). jakarta: mitra wacana media. verhoef, p. c., lemon, k. n., parasuraman, a., roggeveen, a., tsiros, m., & schlesinger, l. a. (2009). customer experience creation: determinants, dynamics and management strategies. journal of retailing, 85(1), 31–41. retrieved from http://www.rug.nl/staff/p.c.verhoef/jr_customer_experience.pdf wijaithammarit, s., & taechamaneestit, t. (2012). customer experience management influences customer loyalty: case study of supercenters in thailand. ipedr, 47–52. retrieved from http://www.ipedr.com/vol50/011-cbetm2012-a00024.pdf yang, z.-y., & he, l.-y. (2011). goal, customer experience and purchase intention in a retail context in china: an empirical study. african journal of business management, 5(16), 6738–6746. http://doi.org/10.5897/ajbm10.1287 microsoft word 05_adang sudjana_pengaruh metode pencatatan.doc pengaruh metode pencatatan… (adang sudjana) 137 pengaruh metode pencatatan perpetual inventory method dan physical inventory method terhadap laba fiskal dalam uu pajak penghasilan adang sudjana1 abstract article is a result of a “book research” and try to describe the implementation of uu no. 17 tahun 2000 in a company, especially a company tax profit, that is how the influences of inflation and deflation if the supply scored based on average method or fifo. in condition the supply record by company using perpetual and or physiscal inventory method. keywords: recording method, perpetual inventory method, physiscal inventory method, profit tax, income tax abstrak artikel merupakan hasil “book research”, yaitu mencoba menelaah penerapan uu no. 17 tahun 2000 di dalam suatu perusahaan (yang direkayasa), khususnya laba fiskal perusahaan, yaitu bagaimana pengaruh keadaan inflasi dan atau deflasi jika persediaan/pemakaiannya dinilai dengan metode rata-rata dan atau fifo. dalam kondisi pencatatan persediaan oleh perusahaan menggunakan metode perpetual dan atau physical inventory method. kata kunci: metode pencatatan, erpetual nventory ethod, physiscal inventory method, laba fiskal, pajak penghasilan 1 staf pengajar ubinus, jakarta journal the winners, vol. 5 no. 2, september 2004: 137-142 138 pendahuluan undang-undang nomor 7 tahun 1983 sebagaimana telah diubah dan ditambah dengan undang undang nomor 10 tahun 1994 sebagaimana telah diubah dan ditambah dengan undang undang nomor 17 tahun 2000 tentang pajak penghasilan telah mengatur mengenai metode penilaian persediaan dan pemakaian persediaan yang diperkenankan, yaitu seperti tertuang dalam pasal 10 ayat 6 “persediaan dan pemakaian persediaan untuk penghitungan harga pokok dinilai berdasarkan harga perolehan yang dilakukan secara rata rata atau dengan cara mendahulukan persediaan yang diperoleh pertama”. pada umumnya, terdapat 3 (tiga) golongan persediaan barang, yaitu barang jadi atau barang dagangan, barang dalam proses produksi, bahan baku, dan bahan pembantu. ketentuan pada ayat itu mengatur bahwa penilaian persediaan barang hanya boleh menggunakan harga perolehan. penilaian pemakaian persediaan untuk penghitungan harga pokok hanya boleh dilakukan dengan cara rata rata atau dengan cara mendahulukan persediaan yang didapat pertama (first in first out atau disingkat fifo). sesuai kelaziman, cara perolehan tersebut juga diberlakukan terhadap sekuritas. pembahasan metode pencatatan persediaan terdapat dua teknik/metode pencatatan persediaan/pemakaiannya dalam perusahaan, yaitu perpetual inventory method dan physical inventory method. perpetual inventory method adalah suatu teknik pencatatan persediaan/pemakaiannya yang dilakukan dengan cara menghitung saldo persediaan dan atau pemakaiannya setiap hari pada kartu persediaan. oleh karena itu, setiap saat dapat diketahui posisi saldo persediaan yang ada di gudang. stock opname persediaan menjadi pekerjaan tambahan saja, yaitu bertujuan hanya mencocokkan saldo fisik barang yang ada di gudang dengan catatan persediaan pada kartu gudang/kartu persediaan barang. dengan demikian, kelemahannya adalah jika jenis barang demikian banyak maka hal itu akan memakan biaya administrasi yang besar. physical inventory method adalah suatu teknik pencatatan persediaan/ pemakainnya yang dilakukan dengan cara hanya menghitung saldo persediaan dan atau pemakaiannya pada akhir bulan dengan melakukan stock opname. stock opname persediaan menjadi pekerjaan yang wajib. tujuan stock opname disini benar-benar ditujukan untuk mengetahui saldo fisik barang yang ada di gudang kemudian catatan persediaan pada kartu gudang/kartu persediaan barang.disesuaikan. dengan demikian, kelemahannya adalah catatan persediaan tidak dapat setiap saat menunjukkan saldo pengaruh metode pencatatan… (adang sudjana) 139 persediaan. kebaikannya adalah metode pencatatan ini hanya memakan biaya administrasi yang rendah. ilustrasi ilustrasi yang akan dipaparkan berikut ini ingin mengungkapkan bagaimana pengaruh kedua metode pencatatan persediaan dan pemakaiannya tersebut (pepertual inventory method dan physical inventory method) terhadap laba fiskal dalam keadaan inflasi (harga meningkat) dan deflasi (harga menurun), baik jika perusahaan menggunakan metode fifo atau jika menggunakan metode rata-rata, sebagaimana diperkenankan dalam uu pajak penghasilan. tabel 1 keadaan inflasi dan metode penilaian persediaan/pemakaian yang dipergunakan adalah metode rata-rata perpetual inventory method physical inventory method saldo awal januari’04 2.350.000 2.350.000 pembelian 13.250.000 13.250.000 saldo akhir januari ‘04 (3.292.500) (2.400.000) harga pokok / pemakaian 12.307.500 13.200.000 dari data tabel 1 tersebut dapat disimpulkan bahwa dalam keadaan inflasi (kecenderungan harga bahan baku/pembelian barang dagangan meningkat), jika perusahaan menggunakan metode rata-rata dalam melakukan penilaian persediaan/ pemakaian bahan baku maka harga pokok akan tidak sama antara pencatatan dengan perpetual inventory method dan physical inventory method. harga pokok yang dicatat dengan physical inventory method akan lebih besar dari harga pokok yang dicatat dengan perpetual inventory method. dalam tabel tersebut terlihat harga pokok yang dicatat dengan physical inventory method sebesar rp13.200.000 adalah lebih besar dari harga pokok yang dicatat dengan perptual inventory method sebesar rp12.307.500. akibat lebih jauh terhadap laba fiskal adalah dengan asumsi hal lain tidak berubah, bahwa dalam keadaan inflasi, jika perusahaan menggunakan metode penilaian/ pemakaian persediaan dengan metode rata-rata maka laba fiskal akan lebih rendah, jika perusahaan menggunakan metode pencatatan persediaan dengan cara physical inventory method daripada menggunakan perpetual inventory method. hal itu merupakan “loop hole” (celah) yang dapat dimanfaatkan perusahaan untuk menghindarkan diri dari pajak penghasilan pada saat inflasi. journal the winners, vol. 5 no. 2, september 2004: 137-142 140 tabel 2 keadaan inflasi dan metode penilaian persediaan/pemakaian yang dipergunakan adalah metode fifo perpetual inventory method physical inventory method saldo awal januari’04 2.350.000 2.350.000 pembelian 13.250.000 13.250.000 saldo akhir januari ‘04 (3.500.000) (3.500.000) harga pokok / pemakaian 12.100.500 12.100.000 dari data tabel 2 tersebut dapat disimpulkan bahwa dalam keadaan inflasi (kecenderungan harga bahan baku/pembelian barang dagangan meningkat), jika perusahaan menggunakan metode fifo dalam melakukan penilaian persediaan/ pemakaian bahan baku maka harga pokok akan sama antara pencatatan dengan perpetual inventory method dan physical inventory method. harga pokok yang dicatat dengan physical inventory method sama dengan harga pokok yang dicatat dengan perpetual inventory method. dalam tabel tersebut terlihat harga pokok yang dicatat dengan physical inventory method sama dengan harga pokok yang dicatat dengan perptual inventory method, yaitu sebesar rp.12.100.000. akibat lebih jauh terhadap laba fiskal adalah--dengan asumsi hal lain tidak berubah--dalam keadaan inflasi, jika perusahaan menggunakan metode penilaian/ pemakaian persediaan dengan metode fifo maka laba fiskal tidak akan terpengaruh, apakah perusahaan menggunakan metode pencatatan persediaan dengan cara physical inventory method ataupun menggunakan perpetual inventory method. tabel 3 keadaan deflasidan metode penilaian persediaan/pemakaian yang dipergunakan adalah metode rata-rata perpetual inventory method physical inventory method saldo awal januari’04 2.350.000 2.350.000 pembelian 9.950.000 9.950.000 saldo akhir januari ‘04 (2.085.000) (1.892.000) harga pokok / pemakaian 10.215.000 10.408.000 dari data tabel 3 tersebut, dapat disimpulkan bahwa dalam keadaan deflasi (kecenderungan harga bahan baku/pembelian barang dagangan menurun), jika perusahaan menggunakan metode rata-rata dalam melakukan penilaian persediaan/pemakaian bahan baku maka harga pokok akan tidak sama antara pencatatan dengan perpetual inventory method dan physical inventory method. harga pokok yang dicatat dengan physical inventory method akan lebih besar dari harga pokok yang dicatat dengan perpetual inventory method. dalam tabel 3 terlihat harga pokok yang dicatat dengan physical pengaruh metode pencatatan… (adang sudjana) 141 inventory method sebesar rp10.408.000 adalah lebih besar dari harga pokok yang dicatat dengan perptual inventory method sebesar rp10.215.000. akibat lebih jauh terhadap laba fiskal adalah--dengan asumsi hal lain tidak berubah--dalam keadaan deflasi, jika perusahaan menggunakan metode penilaian/ pemakaian persediaan dengan metode rata-rata maka laba fiskal akan lebih rendah, jika perusahaan menggunakan metode pencatatan persediaan dengan cara physical inventory method daripada menggunakan perpetual inventory method. hal itu merupakan “loop hole” (celah) yang dapat dimanfaatkan perusahaan untuk menghindarkan diri dari pajak penghasilan pada saat deflasi. tabel 4 keadaan deflasi dan metode penilaian persediaan/pemakaian yang dipergunakan adalah metode fifo perpetual inventory method physical inventory method saldo awal januari’04 2.350.000 2.350.000 pembelian 13.250.000 13.250.000 saldo akhir januari ‘04 (3.500.000) (3.500.000) harga pokok / pemakaian 12.100.500 12.100.000 dari data tabel tersebut dapat disimpulkan bahwa dalam keadaan inflasi (kecenderungan harga bahan baku/pembelian barang dagangan meningkat), jika perusahaan menggunakan metode fifo dalam melakukan penilaian persediaan/ pemakaian bahan baku maka harga pokok akan sama antara pencatatan dengan perpetual inventory method dan physical inventory method. harga pokok yang dicatat dengan physical inventory method sama dengan harga pokok yang dicatat dengan perpetual inventory method. dalam tabel tersebut terlihat harga pokok yang dicatat dengan physical inventory method sama dengan harga pokok yang dicatat dengan perptual inventory method, yaitu sebesar rp12.100.000. akibat lebih jauh terhadap laba fiskal adalah--dengan asumsi hal hal lain tidak berubah--bahwa dalam keadaan inflasi, jika perusahaan menggunakan metode penilaian/ pemakaian persediaan dengan metode fifo maka laba fiskal tidak akan terpengaruh, apakah perusahaan menggunakan metode pencatatan persediaan dengan cara physical inventory method ataupun menggunakan perpetual inventory method. journal the winners, vol. 5 no. 2, september 2004: 137-142 142 penutup 1. baik keadaan inflasi maupun keadaan deflasi, penggunaan penilaian persediaan dengan merode rata-rata akan berpengaruh terhadap harga pokok perusahaan, yaitu bahwa jika digunakan physical inventory method maka harga pokok akan lebih besar daripada dengan perpetual inventory method. akibat lebih jauh adalah jika digunakan metode penilaian persediaan dengan cara rata-rata dan digunakan metode pencatatan persediaan dengan physical inventory method maka laba fiskal akan lebih rendah. selanjutnya, pajak penghasilan akan lebih rendah pula. hal itu merupakan “loop hole” yang dapat dimanfaatkan perusahaan dalam menghindarjkan diri dari kewajiban perpajakan. 2. baik keadaan inflasi maupun keadaan deflasi, penggunaan penilaian persediaan dengan merode fifo tidak akan berpengaruh terhadap harga pokok perusahaan, apakah digunakan metode pencatatan dengan perpetual inventory method maupun dengan physical inventory method. daftar kepustakaan matz, adolph and milton f. usry. cost accounting. sixth edition. south western publishing co. mulyadi. akuntansi biaya. edisi 3. yogyakarta: bpfe. undang-undang nomor 17 tahun 2000 tentang pajak penghasilan. microsoft word 06_sandra sunanto_new value economy.doc journal the winners, vol. 6 no. 1, maret 2005: 74-82 74 membangun keunggulan bersaing di era new value economy sandra sunanto1 abstract in the new value economy era company is demanded to give more innovative offering to the market. value becomes the most important thing as the part of company’s offering. the unique of product, store, services and brand are part of company’s unique value propositions. the brand value chain pushes the brand to become a tool that can create the company’s competitive advantage. this concept needs commitment and change the way of thinking from the all of company’s members. the value oriented brand system is becoming one distinctive alternative for company to build its competitive advantage in the new value economy era. keywords: competitive advantage, new value economy abstrak era new value economy menuntut perusahaan agar lebih inovatif dalam penawarannya ke pasar. nilai menjadi hal terpenting pada setiap penawaran perusahaan. company’s unique value propositions menawarkan keunikan produk, saluran distribusi, jasa, dan pelayanan bahkan merek. konsep rantai nilai merek mendorong merek sebagai alat untuk menciptakan keunggulan bersaing yang membutuhkan komitmen dan perubahan cara berpikir dan bertindak dari seluruh anggota perusahaan.. sistem merek berorientasi nilai menjadi suatu alternatif yang berbeda bagi perusahaan dalam membangun keunggulan bersaingnya di era new value economy. kata kunci: keunggulan bersaing, new value economy 1 staf pengajar fakultas ekonomi universitas katolik parahyangan, bandung membangun keunggulan bersaing… (sandra sunanto) 75 pendahuluan pada era persaingan saat ini yang dirasakan intensitasnya sangat tinggi, keunggulan bersaing menjadi suatu senjata pamungkas yang harus dimiliki oleh perusahaan dalam menghadapi persaingan sehingga dapat lebih unggul dibanding pesaingnya. lingkungan yang sangat dinamis dengan perubahan yang terjadi di dalamnya membuat perusahaan juga harus lebih proaktif, terutama dalam menghadapi perubahan selera dan karakteristik pasar yang saat ini value menjadi bagian penting dalam setiap penawaran perusahaan ke pasar. menurut michael e. porter (1985), suatu perusahaan memiliki keunggulan bersaing jika perusahaan tersebut mampu memberikan manfaat yang sama dengan pesaing dengan biaya yang lebih murah atau memberikan manfaat lebih dibanding pesaingnya. oleh karena itu, keunggulan bersaing dapat membuat perusahaan menciptakan superior value bagi para pelanggannya dan juga superior profit bagi perusahaan yang bersangkutan. value yang akan ditawarkan oleh perusahaan di era product economy akan berbeda dengan era new-value economy yang dihadapi saat ini. di era product economy, perusahaan memfokuskan dirinya pada penciptaan unique selling propositions dengan terfokus pada penggunaan sumber daya untuk pengembangan produk baru, sistem manajemen, dan logistik. di era new-value economy, terjadi peralihan dari unique selling propositions (usps) menjadi company’s unique value proposition (uvp) yang meliputi keunikan produk, keunikan saluran distribusi, keunikan jasa dan pelayanan yang ditawarkan, atau bahkan keunikan merek produk. pada era new-value economy, setiap perusahaan harus menyadari bahwa daur hidup produk menjadi lebih singkat, inovasi menjadi hal yang sangat penting dan harus dilakukan. pasar menjadi sangat dinamis sehingga setiap perusahaan harus menciptakan value yang distinctive dalam setiap penawarannya. artikel membahas lebih jauh mengenai bagaimana perusahaan menciptakan value pada era new-value economy yang dapat memberikan keunggulan bersaing. pembahasan karakteristik era product economy dan era new value economy era product economy (old product-oriented company) memfokuskan penggunaan sumber daya perusahaan untuk pengembangan produk, perbaikan sistem manajemen, dan logistik perusahaan. batasan pasar sering kali ditentukan berdasarkan kategori produk yang dipilih untuk dipasarkan sehingga pada era itu, keunggulan bersaing perusahaan journal the winners, vol. 6 no. 1, maret 2005: 74-82 76 lebih ditekankan pada unique selling propositions (usps). unique selling propositions dapat diterapkan pada setiap merek produk dan melekat pada merek tersebut. contoh, sabun mandi “lux” dikenal sebagai sabun bintang kecantikan, shampo “clear” dengan anti ketombenya, mobil “mercedes” yang mempromosikan produk dengan kualitas engineering yang tinggi. dengan satu pesan positioning yang konsisten, tentunya akan sangat memudahkan komunikasi perusahaan pada pasar. selain itu, juga memberikan arahan yang jelas pada karyawan dan organisasi secara keseluruhan dalam pengelolaan aktivitas pemasarannya. keunggulan bersaing tersebut ternyata tidak bertahan pada era saat ini ketika pasar setiap harinya menerima banyak sekali komunikasi pemasaran yang atraktif dan inovatif. perusahaan juga berlomba untuk memperoleh mind-share yang cukup kuat sehingga produk dan penawarannya dibuat lebih inovatif. karakteristik konsumen di pasar pun mengalami perubahan. konsumen menjadi lebih knowledgable dan bebas untuk memilih produk atau merek apa yang cocok dengan ekspektasi mereka. kemajuan teknologi juga semakin memudahkan perusahaan dalam berkomunikasi dengan konsumennya dan juga bagi konsumen teknologi dapat memudahkan mereka dalam mengevaluasi pilihan produk atau merek yang akan mereka beli. dapat disimpulkan bahwa perpindahan era product economy menjadi new value economy dipicu oleh adanya komunikasi yang teknologinya semakin canggih, nilai yang berubah, dan globalisasi. pada era new value economy, disadari betul bahwa daur hidup produk menjadi lebih singkat sehingga inovasi berperan penting dan tidak boleh mudah ditiru oleh pesaing. pasar menjadi sangat dinamis sehingga inovasi produk dituntut berjalan seiring atau bahkan lebih cepat dari perubahan pasar sehingga tetap mampu memenuhi kebutuhan dan keinginan pasar. oleh karena itu, pada era ini terjadi perpindahan dari product unique selling propositions (usps) menjadi company’s unique value proposition (uvp). terdapat aturan penting pada era new value economy, yaitu sebagai berikut. 1. perusahaan harus memiliki setidaknya, produk yang unik, saluran distribusi yang unik, jasa atau pelayanan yang unik atau merek yang unik. 2. beralihnya paradigma perusahaan dari product world menjadi brand world. saat ini, apapun dapat menjadi suatu merek. barang, jasa, perusahaan, orang, negara, binatang, dapat ditransformasikan menjadi suatu merek dengan nilai yang spesifik. hal tersebut telah mengubah kehidupan sosial secara dramatis yang berimplikasi pada cara hidup, berpikir, dan bertindak. bayangkan bencana tsunami aceh dapat mengumpulkan dana yang jumlahnya luar biasa karena liputan media massa yang luas dan gencar. artinya, merek yang dipasarkan dengan cara terbaik pasti terjual dalam jumlah banyak. pada era new-value economy, unique value positioning menjadi hal penting sebagai sesuatu yang akan jadi pedoman dalam perusahaan dan yang akan ditawarkan pada pasar. hal tersebut membutuhkan perubahan radikal dalam pengelolaan perusahaan. membangun keunggulan bersaing… (sandra sunanto) 77 tabel berikut ini menyampaikan bagaimana seharusnya perusahaan mendefinisikan kembali paradigmanya pada era yang baru. tabel 1 perubahan paradigma the old economy menjadi new value economy from the old economy to the new value economy 1. redefine the idea of company strategy from optimizing the product value chain……. ……to optimizing the brand value chain 2. redefine your idea of value from product ………………………………… from product brands ………………………… from logo and design ……………………….. …………to value position in the market …………… to the company as a brand ………………………..to brand systems 3. redefine your idea of the company’s way from long distribution chains ……………….. from physical distribution …………………… from customer relations …………………….. to the market ……………. to short distribution chains …………………..to mental distribution ……………………….to brand relations 4. redefine your idea of the company from international and local domains ……….. from product organization …………………... from hierarchical organization ……………… from control and administration ……………. from systems excellence ……………………. from titles …………………………………… organization …to global domains in specific segments ………………………….to brand culture .. to a horizontal knowledge organization ………to articulation and communication …………………to innovation excellence to actual knowledge and generating value journal the winners, vol. 6 no. 1, maret 2005: 74-82 78 5. redefine your idea of leadership from product management …………………. from top-down ……………………………… from management ………………………….. from administrator …………………………. from tight management ……………………. from rules and regulations …………………. ………………….. to brand management ...............…………………to team values ……………………………..to innovator ..……………………….to communicator .…………………..to broad management to the management of ideas, brand and culture 6. redefine your idea of market boundaries from local ………………………………….. from product barrier ……………………….. from product value ………………………… …………………………………..to global ..………………………….to brand barrier ……………………………..to brand value sumber: jesper kunde (2002:28) merek (brand) dan rantai nilai merek (brand value chain) merek sering kali diartikan sebagai nama, simbol, atau pun gabungan keduanya yang digunakan untuk mengidentifikasikan identitas produk dari suatu perusahaan. peranan merek pada era new-value economy menjadi penting dan merek digunakan sebagai alat membangun keunggulan bersaing suatu produk, bahkan perusahaan sendiri. menurut jesper kunde (2002:20), the definition of a brand in the new value economy is: :“...a brand that has a unique value that can be communicated globally and multiplied repeatedly...” merek menjadi alat yang membantu perusahaan untuk survive pada era new value economy dengan menawarkan suatu unique value yang mampu meraih mind space konsumen. untuk menawarkan sesuatu yang unik tersebut, perusahaan harus memfokuskan aktivitasnya pada segmen yang lebih kecil yang tentunya dikompensasikan dengan tidak menghiraukan segmen yang lebih luas. artinya, perusahaan akan melakukan komunikasi yang lebih intensif dengan tujuan penetrasi pasar lebih banyak dan menjangkau segmen yang lebih kecil tersebut sehingga perusahaan lebih terfokus dalam membangun nilai. hal itu merupakan efek sentrifugal yang akan mendorong perusahaan masuk ke era new value economy. membangun keunggulan bersaing… (sandra sunanto) 79 pada era new value economy, perusahaan akan dibangun melalui merek dan value positioning yang ingin ditanamkan di pasar. oleh karena itu, mendiferensiasikan nilai perusahaan adalah satu-satunya strategi yang masuk akal karena produk dan pasar berubah setiap saat dan inovasi menjadi suatu keharusan. tentunya perusahaan harus mengubah paradigmanya dari paradigma old economy menjadi new value economy (lihat tabel 1). syarat utama untuk berubah adalah mengubah cara berpikir perusahaan sendiri. jika tidak maka menjadi hal yang mustahil bagi perusahaan untuk menjalankan strategi yang tepat pada situasi tersebut. faktor terpenting adalah bagaimana perusahaan mendefinisikan unique value positioning? hal tersebut tidak akan diperoleh dengan bertanya pada konsumen “siapakah saya sebenarnya?”. ingat bahwa karakteristik konsumen sama, mereka takut pada perubahan, apalagi jika mereka telah merasa aman dan nyaman. eksekutif perusahaan harus mampu untuk menentukan apa yang harus dan tidak dilakukan. mereka harus percaya pada apa yang akan mereka capai dan berjuang untuk mencapai hal tersebut. apa yang ingin dicapai oleh para eksekutif haruslah dikomunikasikan pada seluruh anggota perusahaan sebagai tujuan bersama yang ingin dicapai. di masa mendatang, selain mengoptimalisasikan rantai nilai produk (product value chain), perusahaan juga harus mengoptimalkan rantai nilai merek (brand value chain) yang akan mengoptimalisasikan perusahaan perusahaan dengan merek. gambar berikut ini menjelaskan (dari kiri ke kanan) perjalanan perusahaan dalam transisi menuju new value economy yang diawali dari manajemen melalui perusahaan dan budaya perusahaan menuju pelanggan, pasar, positioning eksternal perusahaan, dan positioning nilai yang diharapkan di pasar. sumber: jesper kunde (2002:30) gambar 1 the brand value chain journal the winners, vol. 6 no. 1, maret 2005: 74-82 80 perusahaan yang mampu mengelola rantai nilai mereknya dengan baik akan menjadi pemenang di era new value economy. untuk mencapai keberhasilan itu, perusahaan harus dipaksa berpikir secara radikal yang menuntut mereka untuk mengambil kesempatan, pilihan, dan prioritas. hal itu membutuhkan keahlian dan sistem yang secara total berbeda dari kebiasaan yang dilakukan. sistem merek berorientasi nilai ketika perusahaan berkembang menjadi lebih besar dan masuk pada kategori produk baru, biasanya perusahaan menghadapi dilema. secara umum, biasanya perusahaan akan memilih apakah akan mengembangkan merek lama pada kategori produk baru atau menggunakan merek baru. tidak ada satu pun dari kedua pilihan tersebut yang terbaik. jesper kunde (2002) menyampaikan suatu model yang dapat membantu perusahaan mengambil tindakan terbaik pada situasi tersebut. sumber: jesper kunde (2002:141) gambar 2 the value-oriented brand system pada sisi kanan dari gambar, one-product, one-brand merupakan strategi klasik dimana merek sama dengan kategori produk. procter&gamble adalah contoh terbaik untuk strategi tersebut. produk p&g memiliki nama merek yang berbeda untuk setiap pasar yang berbeda. strategi tersebut diterapkan p&g untuk menjadi pemimpin pasar pada setiap segmen produk. saat ini, p&g mengelola kurang lebih 300 merek global yang dijual lebih dari 140 negara. salah satu tantangan strategi one-product, one-brand adalah biaya yang cukup mahal karena perusahaan harus mengelola masing-masing mereknya dengan konsentrasi dan sumber daya yang terfokus pada setiap merek. pada sisi kiri dari gambar, corporate brand merupakan strategi yang dipilih dengan mengantisipasi tren pasar dan pasar menginginkan merek yang terpercaya, dapat diandalkan, dan tidak berjumlah terlalu banyak. strategi corporate branding merupakan bentuk pemberian merek yang paling efisien. akan tetapi, perlu disadari bahwa dengan membangun keunggulan bersaing… (sandra sunanto) 81 strategi ini, konsumen akan memiliki keterlibatan dan nilai yang tinggi terhadap suatu merek maka mereka akan memiliki ekspektasi lebih terhadap konsistensi dan keandalan dari nilai inti merek tersebut. heinz yang menggunakan merek sama untuk seluruh produk generiknya (saos tomat, sup, dan saus) merupakan contoh perusahaan yang berhasil menggunakan strategi corporate branding. image positif dari merek heinz berlaku untuk seluruh kategori produknya tetapi perlu diwaspadai juga bahwa jika profil perusahaan menjadi buruk dampaknya akan meluas pada seluruh produk perusahaan tersebut. hal yang baru dari model sistem merek berorientasi nilai tersebut adalah adanya sub-merek yang sedapat mungkin berkaitan erat dengan corporate brand. corporate brand with graduation merupakan strategi yang banyak digunakan oleh produsen mobil. bmw misalnya, menggunakan sistem merek yang menggunakan angka sebagai nomor seri yang menunjukkan ukuran dan perbedaan per segmen. bmw seri 300 menggunakan sistem pemberian nomor 316, 320, dan 325 yang menunjukkan ukuran mesin. seri 300 sendiri menunjukkan bahwa mobil dengan seri tersebut lebih kecil dan lebih murah dibanding seri 500 dan 700. strategi itu efisien dan perusahaan tidak perlu menciptakan subbrand baru. keterbatasan strategi itu adalah apakah dengan nilai yang sudah melekat kuat pada merek kita dapat juga berlaku sama pada kategori produk baru untuk segmen bawah dengan kualitas dan harga lebih murah. kasus itu terjadi pada mercedes dengan seri a class-nya yang gagal di pasaran. hal tersebut dapat memberikan dampak negatif pada seluruh kategori produk perusahaan. corporate brand with denomination merupakan strategi pemberian merek yang menggunakan nama berbeda untuk submerek. scandinavia airlines (sas) merupakan perusahaan yang menggunakan strategi tersebut. sas menggunakan dua nama, yaitu sas cargo dan sas pleasure untuk bisnis mereka. strategi itu merupakan cara yang baik untuk menyatukan suatu merek disaat perusahaan sedang berkembang dan melakukan diferensiasi produk dan segmen pasar yang baru. giorgio armani differentiated branding strategy yang menggunakan sub-merek emporio armani merupakan contoh dari strategi corporate brand with differentiation. salah satu keunggulan strategi itu adalah merek dapat ditujukan langsung pada kelompok sasaran tertentu tanpa kehilangan hubungan dengan merek perusahaan (corporate brand). strategi itu digunakan pada situasi ketika perusahaan merasa perlu untuk menggunakan merek baru untuk menjangkau pasar baru dengan produk yang baru. dengan emporio armani, giorgio armani masuk ke segmen pasar bawah yang menginginkan fashion berkualitas dengan harga yang murah tanpa harus kehilangan image dari merek giorgio armani sendiri yang ditujukan pada segmen pasar atas. pada situasi ketika merek baru perlu diterapkan untuk suatu produk baru atau segmen pasar baru, sering kali lebih efektif jika merek baru tersebut dikombinasikan dengan merek perusahaan (corporate brand). suatu merek baru diciptakan tetapi mereka perusahaan masih digunakan sebagai platform dari strategi combined brand. kellog’s journal the winners, vol. 6 no. 1, maret 2005: 74-82 82 merupakan contoh perusahaan yang sukses dengan strategi itu. corporate brand mereka (kellog’s) selalu ditempatkan di atas sub-merek mereka, seperti kellog’s corn flakes, kellog’s frosties, kellog’s choco. keunggulan combined brand strategy adalah dapat dibangunnya posisi baru di sekitar corporate brand yang secara signifikan mengembangkan area pasar perusahaan. jika corporate brand tidak terlihat secara jelas pada kemasan maka sub-merek akan menjadi merek baru yang tidak mendukung corporate brand. corporate brand with endorsing merupakan strategi yang berbeda dengan combined branding. endorsing brand berperan sebagai subordinate (merek sekunder) yang mendukung corporate brand. volkswagen group menggunakan strategi tersebut dan vw berhasil meyakinkan konsumennya bahwa vw bekerja sama dengan perusahaan seat yang mengembangkan dan memproduksi jok mobil untuk vw. image vw yang berkualitas ternyata mampu meningkatkan posisi seat dari perusahaan yang dipersepsikan berkualitas rendah harga murah menjadi perusahaan yang produknya berkualitas tinggi. penutup simpulan dengan brand-value chain, perusahaan membangun keunggulan bersaingnya di era new value economy melalui sistem merek yang berorientasi pasar. organisasi dan orang-orang di dalamnya tentunya sangat berperan dalam keberhasilan strategi tersebut. pola pikir dan tindakan tentunya harus berubah. pasar saat ini, menuntut sesuatu yang unik dari perusahaan. pelanggan merasa sangat senang dengan kejutan baru yang dapat memuaskan kebutuhan dan keinginan mereka atau mereka akan mencari perusahaan lain. karyawan perusahaan pun menuntut hal yang sama. mereka ingin menjadi bagian penting dari keunikan yang diciptakan oleh perusahaan, mereka ingin memahami merek sendiri dan bangga akan merek tersebut, atau mereka akan mencari tempat bekerja lain. inilah saatnya bagi perusahaan untuk memutuskan apakah mereka memilih untuk menjadi unik saat ini atau tidak sama sekali. daftar pustaka kotler, philip. 2003. marketing management eleventh edition. prentice hall. kunde, jesper. 2002. unique now…or never.. pearson education limited. porter, michael e. 1985. competitive advantage. harvard business press. *corresponding author p-issn: 1412-1212 e-issn: 2541-2388 35 the winners, 21(1), march 2020, 35-41 doi: 10.21512/tw.v21i1.5963 comparing cost leadership strategy with differentiation strategy towards firm performance on jakarta islamic index surono1*; tulus suryanto2; erike anggraini3 1 faculty of economics, university of airlangga jl. airlangga no. 4 6, surabaya, jawa timur 60115, indonesia 2,3 faculty of islamic economics and business, islamic state university of raden intan lampung jl. endro suratmin, sukarame, lampung 35131, indonesia 1surono-2018@pasca.unair.ac.id; 2tulussuryanto@radenintan.ac.id; 3erikeanggraini@radenintan.ac.id received: 04th september 2019/ revised: 16th september 2019/ accepted: 19th september 2019 how to cite: surono., suryanto, t., & anggraini, e. (2020). comparing cost leadership strategy with differentiation strategy towards firm performance on jakarta islamic index. the winners, 21(1), 35-41. https://doi.org/10.21512/tw.v21i1.5963 abstract the research aimed to examine the effect of cost leadership strategy and differentiation strategy on company’s performance. it was conducted in companies listed in the jakarta islamic index from 2014 to 2018. purposive sampling was used to obtain samples from 12 companies. analysis was done by multiple linear regression with the help of the ibm spss 23 statistical program for windows with a quantitative descriptive approach. the results show that the cost leadership strategy influences company’s performance compared to differentiation strategy. the implementation of a low-cost strategy is significantly relevant to the condition of people who are sensitive to price and are not much aware about brand products in decision making. the design of a unique item model does not determine success in marketing a product, the relative price offered is quite high and only in certain market segments the product is of public interest. product quality is defeated by the quantity of goods, people prefer how much goods are obtained than the durability of the products consumed. keywords: cost leadership strategy, differentiation strategy, firm performance i. introduction the company’s goal in general is to maximize profits as theory of the firm states that an organization combines and manages its resources with the aim of producing goods or services for trading (setiono, 2015). the achievement of the company’s sales will determine the value of a company, this reflects the trust and loyalty of the people to the company. as the value of a company, investors prosperity will also increase. the welfare of shareholders and the company are represented by stock price on the market exchange. the higher value of a company leads to the increasing share prices. the company is trying to increase the prosperity of investors to attract other investors to invest their finals in the company’s shares. one way is by listing the company into the jakarta islamic index indexation. being listed in the jakarta islamic index (jii) is important because the majority of indonesia’s population are muslims who would prefer sharia stock investments. based on the publication of the kustodian sentral efek indonesia (ksei), the growth in the number of share investors in indonesia in 2018 has increased by 44% compared to 2017. many companies competing to be listed in jii so that each company has a competitive strategy to be listed in jii (niode, 2012). on the other hand, companies that have been listed in jii will try to maintain their position by implementing several corporate strategies. decisions in business is determining the sustainability of a company. the theory of the company states that the decision made in order to maximize profit is intended to maintain the existence of the company (setiono, 2015), so every company needs to thrive and survive. maintaining a company in a highly competitive market industry requires strategies to bring the company forward and win the market segment than any other competitor. several potential strategies are porter strategic theory, the cost leadership strategy, differentiation strategy and the strategy of focus. the cost leadership strategy and differentiation strategy are often applied by companies in winning the market. the benchmark in this research is the measurement of success of the strategy applied by the company 36 the winners, vol. 21 no. 1 march 2020, 35-41 resulting in the company’s performance (maharani & budiasih, 2018). a firm’s performance is a summary of the purpose which is the standard to be used as an appraiser of business success by economic entities in production activities (setiawan, 2016). the need for information about the company’s performance as a measure of decision-making in the future by stakeholders and investors, for the measurement of performance needs to be done. the company’s performance has not had a basic standard, there are two approaches but financial and nonfinancial that can be used to describe and analyze the performance of the company. the financial approach uses the growth and profitability of the company, while the non-financial approach is based on the opinion (subject) or perceptions of the respondents who are considered more informative (omsa, ridwan & jayadi, 2018). performance measurement is also a process to measure the company’s efficiency and effectiveness measures (rokhyadi, 2014). optimal company’s performance is obtained through a series of strategies chosen and applied appropriately, especially with a business situation filled with an atmosphere of uncertainty that is faced with increasingly fierce levels of competition, so the right strategy is required since the strategic variables are believed to improve company’s performance. the strategy is perceived as a means of creating competitive advantage by the company, and is related to the strategies offered by porter known as strategic positioning consisting of differentiation strategies and cost leadership strategies (setiawan, 2016). there have been numbers of researcher related to company’s performance influenced by cost leadership strategy and differentiation strategies. rustamblin, thoyib, and zain (2013) conclude that differentiation strategies are more effective and have an influence on the company’s performance on other generic porter strategies. furthermore, setiawan (2016) finds that companies that choose cost leadership strategies are not better off giving company’s performance results than using differentiation strategies. wibowo, handayani, and lestari (2017) point out that differentiation strategies using the size of selling general and administrative expense (sg&a) or sales have an influence on company’s performance. it is assumed that companies implementing differentiation strategies have added input costs in producing unique goods compared to their competitors with the aim that the products are more attractive to consumers to increase the number of sales of the company with maximum profit. purwantoro, daryanto, and djohar (2018) support the influence of differentiation strategies on company’s performance by pointing out that the company’s performance becomes more optimal when implementing a differentiation strategy. on the other hand, josiah and nyagara (2015) has found influence between cost leadership strategies on company’s performance, while d. banker, mashruwala, and tripathy (2014), omsa et al. (2018) and rokhyadi (2014) have stated that cost leadership strategies and differentiation strategies have influence on company’s performance. this research adopted the research of chang, fernando and tripathy (2015). there are several differences with previous studies, namely by using a sample of data not only in the manufacturing sector but in other sectors in the index of the jakarta islamic index in 2014-2018, based on suggestions put forward by wibowo et al. (2017). in addition, the research compares strategies for generic positions on company’s performance. therefore, this research tries to explore the effect simultaneously between cost leadership strategy and differentiation strategies on company’s performance. whether by testing and different analytical techniques will give different results or remain the same, so it can contribute to the research literature and can be used as input for interested parties in making an economic decision. cost leadership strategy is a strategy to produce products with per-unit costs that are produced significantly low-priced compared with goods offered in the market (amalia, 2015). this strategy emphasizes efforts to produce standard products with a noticably affordable unit cost is a low cost strategy undertaken by companies to gain competitive advantage. besides, the advantages of a company can be reflected when it is able to offer more economical prices compared to its competitors. various combinations of level of differentiation and level of costs will give different results of strategic positions. the most successful companies having a level on the cost structure can benefit a high level of differentiation (nainggolan, 2018). hence with this series of strategies, it is expected that the company increases sales of products in the market compared to its competitors. the differentiation strategy is a strategy that seeks to create unique products that can be distinguished from the ones produced by competitors or marketed goods. this strategy places more emphasis on product excellence, innovation and the creation of new products offered in the market with the aim of getting product uniqueness compared to its competitors. in addition, the achievement of this strategy is through product uniqueness and additional features, comfort, and product grade up, so that it will be difficult for competitors to imitate the marketed products (wibowo et al., 2017). the purpose of the product differentiation strategy is to maintain the unique characteristics of the product, so it remains to be the consumers’ most choice, which ultimately increases the level of sales of the company. the company’s performance is measured using the net profit margin, which is one part of the profitability ratio. net profit margin shows whether the relationship is proportional to the profit. for instance, when the net profit margin value increases, the company’s performance will be more productive resulting in profit increase. on the other hand, this serves to create effective and efficient conditions by controlling company costs, thus the waste from production operational activities can be minimized while the expected level of profit is getting bigger 37comparing cost leadership strategy..... (surono, et al.) (wibowo et al., 2017). the hypotheses on cost leadership strategy will also be developed. similar products offered at a more significantly affordable per-unit-costs from market prices is one characteristic of low cost strategies. this strategy is intended for consumers who tend to be easily affected by price changes and purchasing decisions based on the price of goods. this is suitable for buyers who are not too concerned about the brand, and when there is a high intensity of product bargaining in the market. when the company implements a lowcost strategy and enters the market, the success of this strategy will be easily achieved, which is directly related to the success of the company’s performance as indicated by increased sales and high profit. josiah and nyagara (2015) and rokhyadi (2014) show the influence of cost leadership strategies on company’s performance. meanwhile in differentiation strategy, innovation is a concept that underlies product differentiation strategies. product offerings follow the preferences of the people who continue to experience growth. hence it requires innovation and upgrade to produce new variations of the products offered. changes in terms of product shape and quality are carried out by the company to provide added value and function to influence consumers. the differentiation strategy measured using the sg&a/sales ratio shows that when the allocation value of sg&a is greater, profits will easily be achieved. rustamblin et al. (2013), d. banker et al. (2014), chang et al. (2015), setiawan (2016), wibowo et al. (2017) and omsa et al. (2018) have similar views that product differentiation strategies have a greater influence on company’s performance compared to other generic strategies. based on the presentation and results of the previous research, the research hypothesis is proposed, namely: h1: cost leadership strategy influences firm performance. h2: differentiation strategy influences firm performance. ii. methods the population are all companies listed in the jakarta islamic index (jii) from 2014 to 2018. the data source is secondary data by using data from the annual financial report results in companies indexed by jii. the sample selection is based on the purposive sampling method, which is determined by special characteristics by researchers aiming to get an accurate sample with predetermined criteria, so it can be representative. the sample criteria in this research are: (1) companies listed in the jakarta islamic index from 2014 to 2018; (2) listed consecutively at the jakarta islamic index indexation from 2014 to 2018; (3) issuing financial statements from 2014 to 2018; (4) the financial statements are presented in rupiah currency; (5) companies that do not report losses in 2014-2018 annual financial statements; (6) the company’s annual report has the data needed in relation to the independent and research dependent variables. the classic assumption test and multiple linear regression test are performed on the sample obtained. company’s performance is measured using the net profit margin (npm) variable. this ratio shows that when the value of npm is higher, it will be equivalent to better earnings since this ratio illustrates how the technique of a company in controlling and managing sales in achieving profits is more efficient (tandelilim, 2010). calculation of net profit margin follows a study conducted by agustina & sumartio (2014), which is: npm = net income / sales (1) balsam, fernando and tripathy (2011) and chang et al. (2015) in their watchfulness have pointed out how to measure the cost leadership strategy using the ratio of net sales to capital spent. the ratio measures a company’s ability to obtain long-term assets using sales revenue. the ratio of sales to capital expenditures will often fluctuate when the business goes through a large cycle and small capital expenditures (birjandi et al., 2014). mathematically the measurement of cost leadership strategy is: cls = sales / capital expenditure (2) measurement of differentiation strategies follows the calculation of the independent variables that have been carried out by balsam et al. (2011) and chang et al. (2015) ds = sg&a / sales (3) where ds = differentiation strategy; s = cost of sales; g = general costs; a = administrative costs; and sales = sales. this ratio is a means of corporate investment to differentiate products against competitors. the application of this strategy to companies will require more costs compared to the cost leadership strategy to create unique products to increase company sales. the relationship between the dependent and independent variable data can be identified through the use of classic assumption tests. this is essential to do before continuing to test the regression analysis of the research variables. normality test aims to determine whether the proposed regression modeling, or residual confounding variable has a normal distribution (ghozali, 2016). the interrupting variable of a regression requires that it is spread normally. this is to meet the original zero mean if the variable and is normally distributed. if so, then the variables used in the research on the y variable will also be normally distributed. testing normality is implemented by looking at the value of the probability of normality test results using the kolmogorovsmirnov test to determine whether the distribution 38 the winners, vol. 21 no. 1 march 2020, 35-41 of variable data is normal or abnormal. the rules for regression modeling are normally distributed if the probability of kolmogorov-smirnov is greater than 5% (p >0,05). multicollinearity test functions to test whether the regression models indicate resources to a correlation between independent or independent variables. the prerequisite that must be fulfilled in the regression model is the absence of multicollinearity (ghozali, 2016). the way to detect the findings of multicollinearity is to use a method that is regressing the analysis model and conducting a correlation test between independent variables using values from the variance inflation factor (vif) and tolerance value. if the tolerance value is greater than 0,1 and vif is less than 10, it means there is no multicollinearity. however, if the tolerance value is <0,1 and vif> 10, there is multicollinearity in this research. heteroscedasticity test has the purpose to find out whether regression modeling has a difference in the value of variance from the residual number one observation to the next observation. when the residual variance value from one observation to another observation is constant, it can be said as homoscedasticity. in contrast, when the results are different it is called heteroscedasticity. a good regression model that has a variance value tends to be fixed or homoscedasticity (ghozali, 2016). heteroscedasticity can be known through a test by using the glejser test method, which is by compiling a regression between the residual absolute value and the independent variable. if each independent variable does not significantly influence residual absolute (α = 5%) then the regression model in the research does not occur with symptoms of heteroscedasticity. the autocorrelation test aims to test whether in the linear regression model there is a correlation between confounding errors in the t period and errors in the t-1 period (previous) (ghozali, 2016). when there is a correlation, there is a problem with autocorrelation. this arises because of a series of sequential observations over time that are related to one another. a good regression model is free from autocorrelation. in the research, autocorrelation is tested by durbin watson test. determination of the existence of autocorrelation can be determined through the durbin watson test value, that is, when the value d <dl or d> 4-dl, the data is autocorrelated. whereas for data with no autocorrelation, du <d <4-du. with a value of α = 0,05, where d = durbin watson and dl, du is a number from the durbin watson table. multiple linear regression functions to review the effect of independent variables on dependent variables with the following formulations: kp (npm) = α + β1 cls + β2 ds + e (4) where kp = company performance is measured using net profit margin; α = constants; β = regression coefficient; cls = cost of leadership strategy; ds = differentiation strategy; e = error standard. test f basically indicates whether all the independent variables included in the model has a collective effect on the dependent variable (ghozali, 2016). the test in the research uses a significant level of 0,05 (α = 5%). when significant or probability values are less than 5% (p <0,05) and f statistic > f table, it can be said that there is a joint effect between the independent variables on the dependent variable (f statistic = f (k; n-k). t test aims to illustrate the influence of the independent variables individually in explaining the variation of the dependent variable (ghozali, 2016). test statistic t is used to test the significance of the effect of each independent variable on the dependent variable. the test uses a significant level of 0,05 (α = 5%). this shows that the free variable will get the t value located in the critical area (reject area) if the true hypothesis is actually 0,05 if t count is greater than t table then h0 is rejected, meaning there is an influence between the independent variable on the dependent variable, and vice versa. iii. results and discussions the sample of the research is presented in table 1. table 1 the samples in the research sample selection amount the company listed at jii from 2014 to 2018 47 companies that are not listed in succession during the period 32 companies that issue financial statements not in rupiah during the period 2 companies that report losses during 2014-2018 1 number of sample companies 12 the number of samples during the research period x 60 based on the results of data analysis using the help of spss 23. it is declared that variables are normally distributed if the results of the kolmogorovsmirnov test show an asymp value. sig. > alpha (0,05). it can be seen in the table 2 that the kolmogorovsmirnov test value is 0,187, while the asymp value is sig. (2-tailed) for an unstandardized variable of 0,000 less than an α value of 0,05. hence it can be concluded that the data used is not normally distributed. data is stated not to experience a normal spread because based on the results of the company’s annual financial report in the research sample shows that there are significant fluctuations in the number of financial results used in the research. 39comparing cost leadership strategy..... (surono, et al.) table 2 one-sample kolmogorov-smirnov test one-sample kolmogorov-smirnov test unstandardized residual n 60 normal parametersa,b mean 0,0000000 std. deviation 0,10793834 most extreme differences absolute 0,187 positive 0,187 negative -0,142 test statistic 0,187 asymp. sig. (2-tailed) 0,000c a. test distribution is normal the results of multicollinearity tests (table 2) indicate that the cost leadership strategy and differentiation strategy variables have values greater than tolerance of 0,1 and vif values are below 10, which means that the variables do not occur to be multicollinearity. table 3 multicollinearity test results independent collinearity statistics conclusion model sum of squares df mean square f sig. 1 regression 0,086 2 0,043 3,560 0,035 b residual 0,687 57 0,012 total 0,773 59 variable tolerance vif constant cls 0,905 1,105 there is no multicollinearity ds 0,905 1,105 there is no multicollinearity the probability of the cost leadership strategy variable and differentiation strategy is statistically significant above 0,05. it can be concluded that the regression model does not have heteroscedasticity, as seen table 4. based on the results of the durbin-watson test with the help of the spss 23 application, the durbinwatson value is 0,99. this value is compared with the durbin watson value table for n = 60 and k = 3 with (α) 0,05 or 5%, then the value of dl = 1,48 and du = 1,69. as a result, the durbin watson test value is at (4 dw)> du. this becomes the evidence of the absence of negative autocorrelation. based on the results of the data obtained, the results of multiple linear regression tests can be seen in table 5. table 4 heteroscedasticity test results dependent variable independent variable sig. t conclusion fp cls 1,000 there is no heteroscedasticity ds 1,000 there is no heteroscedasticity table 5 result of multiple linear regression tests model unstandardized coefficients standardized coefficients b std. error beta t sig 1 (constant) 0,082 0,028 2,932 0,005 cls 0,009 0,004 0,263 2,007 0,050 ds 0,131 0,124 0,139 1,055 0,296 thus obtained the regression equation as follows: fp (npf) = 0,082 + 0,009cls + 0,131ds + e based on the results of the spss output, the conclusions taken from the f test are provided in table 6. table 6 result f test model sum of squares df mean square f sig. 1 regression 0,086 2 0,043 3,560 0,035 b residual 0,687 57 0,012 total 0,773 59 based on the results of the f test, the probability value is 3,560 with a significance of 0,035. the results of df also show values of 57 and 59. the calculated f value is greater than f table which is 0,035 < 3,160. thus, it can be concluded that simultaneously the cost leadership strategy variable and differentiation strategy do not affect the company’s performance. the t test is used to test partially, the statistical significance of the variable cost leadership strategy, differentiation strategy and company’s performance. table 7 provides the results of the t test. 40 the winners, vol. 21 no. 1 march 2020, 35-41 based on the results of the t test, it is found that the cost leadership strategy variable has t count 2,007 > t table 2,002, with a significance value of 0,05, probability below alpha. it can be concluded that there is an influence between the cost leadership strategy on company’s performance. the results indicate that implementing cost leadership strategies namely low cost, has an influence on company’s performance. the research result support the research conducted by josiah & nyagara (2015). cost leadership strategy is the way a company attracts customers by offering per unit product prices below the competitor’s offer. this strategy is a business tactic that is by utilizing consumers who determine purchasing decisions based on product price offers from the company. this phenomenon is particularly suitable with the conditions in indonesia, where buyers have low awareness about the brand and the intensity of product bargaining is high as well as easily affected by more relatively affordable goods. when companies implement cost leadership strategies, the success of this strategy will be easily achieved. therefore, the implementation of cost leadership strategy influences the company’s performance as indicated by the intensity of company sales increasing and high profit. table 7 t test results model unstandardized coefficients standardized coefficients b std. error beta t sig 1 (constant) 0,082 0,028 2,932 0,005 cls 0,009 0,004 0,263 2,007 0,049 ds 0,131 0,124 0,139 1,055 0,296 based on the results of the calculation seen in table 7, the differentiation strategy variable has a value of 1,055 <t table 2,002 with a significance number of 0,296 probability above 0,05, so it can be concluded that differentiation strategy does not affect the performance of the company. the results of this indicate that by presenting unique products offered in the market, it has no influence on company’s performance. the results of the research do not support the research by purwantoro et al. (2018). the differentiation strategy is a strategy that seeks to create unique products can be significantly distinguished from products by competitors or marketed goods. this strategy places more emphasis on product excellence, innovation and the creation of new products offered in the market with the aim of getting product uniqueness compared to the competitors. conditions in indonesia show that many imitation products are scattered in almost all places. besides many sellers offer quality products that are not suitable for consumption in the market with a derivative level of super copy under imitation. this phenomenon is actually sad because many goods in the market are not in accordance with indonesian national standards. smart consumers will certainly consider purchasing decisions on product quality and product safety. if many customers have long-term thinking about consuming products, this strategy will succeed. however, the results of this study indicate that, currently, the product differentiation strategy has no influence on company’s performance. iv. conclusions first, the research concludes that there is an influence between the cost leadership strategy on 12 companies’ performance listed on jakarta islamic index (jii) indexation from 2014 to 2018. the results of support the research conducted by josiah and nyagara (2015). this phenomenon is suitable with the conditions in indonesia, where buyers have low awareness about the brand and the intensity of product bargaining is high as well as easily affected by more relatively affordable goods. when companies implement cost leadership strategies, the success of this strategy will be easily achieved. therefore the application of cost leadership strategy affects company’s performance. second. differentiation strategy does not affect 12 companies’ performance listed on jii. the results of the research do not align with the research by purwantoro et al. (2018). conditions in indonesia show that many replicas of the products are distributed in many places. if many customers have long-term thinking about consuming products, this strategy will be successful. nevertheless, the results indicate that, currently, the product differentiation strategy does not significantly influence the company’s performance. there are several suggestions for further research that can be considered: 1) it is better to increase the number of samples not only in the jakarta islamic index, but more broadly to obtain complete research data; 2) further research can add to the number of variables that have influences on company’s performance; 3) the next research should be able to add years of research to obtain the validity of the research results. acknowledgments the research is conducted using the researchers’ private funds and is not supported by external funding from related institutions or companies. the research is used for the needs of researchers. the researchers thank professor tulus suryanto and dr. erike anggraini for having contributed to this research. 41comparing cost leadership strategy..... 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(2015). teori perusahaan/theory of the firm: kajian tentang teori bagi hasil perusahaan (profit and loss sharing) dalam perspektif ekonomi syariah (theory of the firm: study on the theory of profit and loss sharing in syariah economic perspective). jurnal aplikasi pelayaran dan kepelabuhanan, 5(2), 153-169. tandelilim, e. (2010). portofolio dan investasi: teori dan aplikasi. yogyakarta: karnisius. wibowo, s. s. a., handayani, y., & lestari, a. r. (2017). strategi bersaing perusahaan dan kinerja perusahaan. riset akuntansi dan keuangan indonesia, 2(2), 143150. https://doi.org/10.23917/reaksi.v2i2.4896. microsoft word 02_ engkos a. kuncoro_ renovasi sistem.doc journal the winners, vol. 5 no. 2, september 2004: 90-107 90 renovasi sistem menuju ekonomi rakyat berkeadilan engkos achmad kuncoro1 abstract economic crisis in indonesia emerges as an effect of economic policy with much rely on conglomerates and disregard people economics in capitalistic economy system. since 1998, the awareness of reforming economic system strives to the democratic economics are not yet realized by the government of reform era. the state has failed to improve the economics in agricultural sector especially the farmers, who has systematically experience of poverty. the new governance lead by the elected president have to conduct the farmer economic institution becomes part of integrated network of the rural ecomomic and the conglomerates, and have to be supported by macro economic policies having conducive for improving the people economics. keywords: renovation system, people economic, justice abstrak krisis ekonomi di indonesia merupakan akibat kebijakan ekonomi yang terlalu memihak pada pertumbuhan ekonomi yang mengandalkan usaha besar (konglomerat) dan mengabaikan ekonomi rakyat dalam sistem ekonomi kapitalistik. sejak tahun 1998, kewaspadaan akan kesalahan dan keinginan untuk mengubah sistem ekonomi menuju demokrasi ekonomi belum direalisasikan oleh pemerintahaan reformasi. negara gagal meningkatkan perekonomian di sektor pertanian, terutama petani yang telah mengalami pemiskinan sistematis. pemerintahan baru di bawah presiden terpilih nanti perlu melakukan penataan kelembagaan ekonomi petani menjadi bagian dari jaringan ekonomi rakyat pedesaan yang terintegrasi dengan usaha besar (konglomerat) dan didukung kebijakan politik ekonomi makro yang kondusif. kata kunci: renovasi sistem, ekonomi rakyat, adil 1 staf pengajar fakultas ekonomi, ubinus, jakarta renovasi sistem menuju… (engkos achmad kuncoro) 91 pendahuluan pada tahun 1948, wilhelm roepke (1899–1966)--dalam mubyarto (1999)-mengingatkan akan bangkrutnya sistem ekonomi kolektif uni soviet dan negara sosialis eropa timur karena sistem ekonomi kolektif didasari atas paksaan dan bertujuan untuk melawan paham kapitalis barat. sistem ekonomi kolektif yang tidak ditujukan untuk kemakmuran rakyat maka cepat atau lambat akan hancur. pada tahun 1993, garis besar haluan negara (gbhn, 1993) mengingatkan bahwa pembangunan telah berhasil meningkatkan pendapatan nasional dan kesejahteraan rakyat pada umumnya, walaupun masih ada ketimpangan ekonomi dan kesenjangan sosial yang menuntut usaha yang sungguh-sungguh untuk mengatasinya agar tidak berkelanjutan dan berkembang ke arah keangkuhan dan kecemburuan sosial. peringatan itu muncul karena kebijakan ekonomi selama hampir 30 tahun (19691997) telah menghasilkan pertumbuhan ekonomi rata-rata 7% per tahun tetapi berakibat kesenjangan sosial ekonomi semakin melebar. peringatan rakyat yang diamanatkan melalui gbhn 1993 belum sempat dilaksanakan menjadi kenyataan, pada tahun 1998 terjadi krisis moneter dan ekonomi yang merontokkan seluruh sendi perekonomian indonesia. bangsa indonesia sedang diuji, apakah punya tekad dan kehendak memakmurkan ekonomi rakyatnya? sebagai bangsa yang beragama mengakui khilaf kemudian merumuskan arah reformasi ekonomi dalam gbhn tahun 1998 bahwa sejalan dengan perkembangan kebutuhan dan tantangan pembangunan nasional, diperlukan keberpihakan politik ekonomi yang lebih memberikan kesempatan, dukungan, dan pengembangan ekonomi rakyat yang mencakup koperasi, usaha kecil, dan menengah sebagai pilar utama pembangunan ekonomi nasional. setelah hampir lima tahun berjalan sejak dicanangkan reformasi ekonomi untuk berpihak pada ekonomi rakyat, krisis moneter dan ekonomi belum menunjukkan tanda akan berakhir, malah ada kecenderungan semakin berkepanjangan. berdasarkan rangkaian peristiwa politik dan ekonomi serta fakta kondisi yang memprihatinkan, mengingatkan ada suatu kekeliruan yang perlu disadari dan diperbaiki. kekeliruan yang dimaksud adalah ketidakseriusan membangun ekonomi rakyat. artikel membahas konsep, fakta empiris, dan upaya membangun ekonomi rakyat yang berkeadilan dan menyejahterakan. diharapkan, artikel ini menjadi bahan diskusi bagi perumusan kebijakan politik ekonomi dalam tatanan makro dan kebijakan operasional ekonomi yang menyentuh kepentingan riil ekonomi rakyat dimasa mendatang. journal the winners, vol. 5 no. 2, september 2004: 90-107 92 pembahasan konsep ekonomi rakyat di era tahun 80-an, terjadi perdebatan nasional tentang konsep ekonomi yang cocok untuk indonesia. dalam pola pandang ekonomi makro, ada dua perdebatan, yaitu antara mereka yang menginginkan peran besar dari negara sesuai dengan pasal 33 uud 1945 (ayat 2 dan 3) dan mereka yang menginginkan kebebasan sistem pasar yang mampu mengembangkan demokrasi ekonomi sesuai penjelasan pasal 33 itu. sampai saat ini, masih diperdebatkan antara peran besar negara dengan kebebasan sistem pasar lebih dominan di indonesia. simpulan perdebatan tersebut, bangsa indonesia mempunyai kekhususan dalam pola perilaku ekonomi. oleh karena itu, perlu dirumuskan model pembangunan yang memiliki ciri khas tersendiri. perdebatan profesional tentang paradigma pembangunan ekonomi indonesia sebenarnya telah menyepakati tentang arah pembangunan ekonomi indonesia, yaitu dengan dibuatnya gbhn 1993. gbhn 1993 mengandung koreksi terhadap penyimpangan dan perintah baru dari rakyat yang berbeda dari gbhn terdahulu selama pjp i, khususnya orientasi baru yang makin menekankan pada pemerataan pembangunan dengan menerapkan nilai ilmu pengetahuan dan teknologi (iptek) dengan memperhatikan nilai agama dan nilai luhur budaya bangsa. sebagai wujud amanat gbhn itu, repelita vi (rencana pembangunan lima tahun) untuk pertama kali memperkenalkan bab baru, yaitu berjudul pemerataan pembangunan dan penanggulangan manusia. ditegaskan bahwa kebijakan dalam bidang ekonomi meliputi upaya meningkatkan kegiatan ekonomi rakyat, terutama melalui pengembangan koperasi dan pembinaan pengusaha kecil, memperluas lapangan kerja, memperluas lapangan usaha, serta meningkatkan pendapatan dan taraf kesejahteraan rakyat. pembangunan dalam bidang kesejahteraan rakyat merupakan ujung tombak upaya pemerataan pembangunan dan penanggulangan kemiskinan karena pada dasarnya merupakan upaya membangun manusia dan sumber daya manusia, seperti penjabaran lebih lanjut amanat gbhn 1993 bahwa titik berat pembangunan jangka panjang kedua diletakkan pada bidang ekonomi yang merupakan penggerak utama pembangunan seiring dengan kualitas sumber daya manusia. meskipun paradigma pembangunan ekonomi nasional adalah tetap, trilogi pembangunan, yaitu stabilitas nasional, pertumbuhan ekonomi, dan pemerataan, pada pjp ii pemerataan diletakkan pada prioritas utama. pemerataan pembangunan untuk mengatasi ketimpangan ekonomi dan kesenjangan sosial adalah misi utama pjp ii dan repelita vi. pemberdayaan masyarakat, khususnya yang kecil, lemah dan miskin, renovasi sistem menuju… (engkos achmad kuncoro) 93 merupakan agenda utama kebijaksanaan dan strategi pembangunan. nasional. upaya itu mencakup tiga bidang, yaitu (1) menciptakan suasana atau iklim yang memungkinkan masyarakat berkembang; (2) memperkuat potensi ekonomi yang dimiliki masyarakat itu; (3) melindungi kelompok ekonomi rakyat yang masih lemah untuk mencegah terjadinya persaingan yang tidak seimbang serta mencegah eksploitasi yang kuat atas yang lemah. masalah paradigma pembangunan baru itu seperti telah disebut di atas, mendapat sorotan sebuah seminar di csis jakarta 13 agustus 1996 dan di lipi 8 oktober 1996. meskipun tema seminarnya "mencari paradigma baru pembangunan" namun sebagian besar pembicara rupanya tidak berpendapat diperlukannya paradigma baru tersebut. masalah ekonomi yang dihadapi indonesia menurut mereka lebih banyak terletak pada melencengnya pelaksanaan kebijakan dari yang seharusnya. ada yang mengistilahkannya sebagai sekedar keperluan untuk "back to basic", kembali pada pelaksanaan yang pokok yang memang perlu dilaksanakan. ada pembicara lain yang tanpa kualifikasi menyatakan. "serahkan saja kepada kekuatan pasar, pasti segalanya akan beres”. akan tetapi, apabila pernyataan yang demikian diartikan sebagai sama sekali tidak menghendaki adanya campur tangan pemerintah dalam perekonomian, terutama yang berbentuk peraturan (regulasi), tentunya pendapat yang demikian bertabrakan langsung dengan pendapat perlunya campur tangan pemerintah yang justru lebih besar lagi dalam mencapai sebesar-besar kemakmuran rakyat. hal tersebut sebagaimana diamanatkan penjelasan pasal 33 uud 1945 bahwa cabang produksi yang penting bagi negara dan yang menguasai hidup orang banyak yang dikuasai oleh negara. kalau tidak, tampuk produksi jatuh ke tangan orang seorang yang berkuasa dan rakyat yang banyak ditindasinya. harus diakui bahwa sesungguhnya kekuatan pasar sudah dibebaskan, terutama sejak deregulasi juni 1983 dan melalui pakto 88. hanya saja ternyata bahwa kekuatan pasar yang sudah dibebaskan sekalipun tidak selalu dapat bekerja secara bebas karena berbagai hambatan. misalnya, sementara sektor moneter, perbankan dan perdagangan, dan lalu lintas devisa dibebaskan, tetapi proteksi terhadap industri substitusi impor tertentu tidak urung menciptakan kekuatan ekonomi monopoli atau oligopoli yang membangun benteng ekonomi proteksi yang tidak mudah ditembus. tidak mengherankan lagi bahwa proses liberalisasi perdagangan dan investasi yang kini semakin berkembang sejak tahun tahun 2003.(afta) dan yang akan dihadapi pada tahun 2020 (apec), sesungguhnya tanpa disadari sudah mulai berjalan sejak akhir tahun enam puluhan dan awal tahun tujuh puluhan, dengan akibat munculnya ketimpangan ekonomi dan kesenjangan sosial yang tajam. konsep ekonomi rakyat sebenarnya sudah jelas, paling tidak dipertegas dalam gbhn 1993, dalam gbhn 1998 sosok ekonomi rakyat malah secara eksplisit disebutkan koperasi usaha kecil menengah, seperti disebutkan bahwa: “...politik ekonomi yang lebih memberikan kesempatan, dukungan, dan pengembangan ekonomi rakyat yang mencakup koperasi, usaha kecil, dan menengah sebagai pilar utama pembangunan ekonomi.” journal the winners, vol. 5 no. 2, september 2004: 90-107 94 timbul tenggelamnya keinginan untuk serius membangun ekonomi rakyat juga datang dari para pengambil kebijakan ekonomi yang terlalu diilhami oleh teori ekonomi barat neo-klasik yang tidak cocok di terapkan pada kondisi bangsa indonesia. proses konglomerasi ekonomi yang semakin menjadi sejak 1987/1988 merupakan bukti penerapan model ekonomi pertumbuhan barat dan meminggirkan pelaku ekonomi rakyat yang nyata-nyata merupakan tulang punggung ekonomi nasional. bahwa ekonomi rakyat kuat daya tahannya terbukti hingga saat ini sedangkan sebaliknya, perusahaan besar keropos dan merepotkan pemerintah telah dibuktikan oleh kasus pertamina 1975, kasus indocement 1985, ambruknya bank summa tahun 1992, dan yang paling tragis krisis moneter tahun 1997. konsep ekonomi rakyat tidak berarti anti perusahaan besar. mubyarto (1999) memberi ilustrasi tentang kaitan perusahaan besar dan ekonomi rakyat, yaitu dalam konteks ekonomi makro indonesia adalah konglomerat atau pengusaha besar swasta, tidak termasuk ekonomi rakyat. mereka (konglomerat) adalah pusat pertumbuhan yang melaju “super cepat” sehingga membentuk kelompok tersendiri. mereka adalah bagian sistem perekonomian nasional yang memegang peran kunci dalam pertumbuhan ekonomi, melalui pertumbuhan industri manufaktur dan perdagangan yang jelas sekali berbeda dari ekonomi rakyat miskin. mereka menjadi salah satu andalan pertumbuhan. akan tetapi, rakyat kecil adalah bagian dari sistem perekonomian nasional yang perlu diperhatikan untuk menjadi pusat pemerataan karena ketertinggalan mereka. konsep ekonomi rakyat memiliki landasan teori dan bukti empiris yang memadai. kehancuran ekonomi jerman setelah perang dunia ii kini bangkit kembali berkat penerapan sistem ekonomi pasar sosial (seps). sistem seps itu identik dengan sistem ekonomi pancasila yang dikembangkan kelompok intelektual universitas gadjah mada (ugm) dan telah dijabarkan dalam 7 butir paradigma baru reformasi ekonomi dalam gbhn 1998 sebagai berikut. 1. terciptanya ketahanan ekonomi nasional yang kokoh dan tangguh. 2. mengandung sikap dan tekad kemandirian dalam diri manusia, keluarga, dan masyarakat indonesia. 3. perekonomian nasional dikembangkan ke arah perekonomian yang berkeadilan. 4. demokrasi ekonomi diwujudkan untuk memperkukuh struktur usaha nasional. 5. koperasi adalah sokoguru perekonomian nasional, sebagai gerakan dan wadah kegiatan ekonomi rakyat; koperasi sebagai badan usaha ditujukan pada penguatan dan perluasan basis usaha. 6. kemitraan usaha yang dijiwai semangat kebersamaan dan kekeluargaan yang saling menguntungkan dan ditumbuhkembangkan. 7. usaha nasional dikembangkan sebagai usaha bersama berdasarkan asas kekeluargaan dalam pasar terkelola dan dikendalikan oleh keimanan dan ketakwaan terhadap tuhan yang maha esa serta nasionalisme yang tinggi. renovasi sistem menuju… (engkos achmad kuncoro) 95 reformasi ekonomi dengan 7 butir paradigma baru di atas menuntut perhatian penuh pada penerapan konsep ekonomi rakyat untuk menciptakan ketahanan ekonomi dan peningkatan efisiensi ekonomi nasional serta menciptakan keadilan ekonomi yang dapat memakmurkan rakyat. renovasi kelembagaan ekonomi petani untuk memperkuat jaringan ekonomi rakyat pedesaan usaha besar dan usaha kecil menengah (ukm) saling melengkapi kinerja usaha kecil dan menengah menunjukkan perannya dalam menopang kehidupan rakyat banyak dan mendukung proses pemulihan ekonomi indonesia pascakrisis. menurut bps 2004, besaran produk domestik bruto (pdb) diciptakan ukm tahun 2003 mencapai rp1.013,5 triliun atau 56,7 persen total pdb nasional. nilai pdb itu disumbangkan oleh usaha kecil sebesar 41,1 persen dan usaha menengah 15,6 persen. proporsinya meningkat dibandingkan dengan tahun 2000 sebesar 39,7 persen (usaha kecil) dan 14,8 persen (usaha menengah). pertumbuhan pdb ukm sejak tahun 2001 juga melebihi total pertumbuhan pdb nasional. selama tiga tahun tercatat pertumbuhan pdb ukm sebesar 3,8 persen (2001), 4,1 persen (2002), dan 4,6 persen (2003), dibandingkan dengan pdb nasional berturut-turut 3,45 persen, 3,69 persen, dan 4,1 persen. jumlah unit usaha ukm dalam tiga tahun terakhir juga meningkat 9,5 persen, dari 38,7 juta pada tahun 2000 menjadi 42,4 juta unit usaha pada tahun 2003. peningkatan jumlah unit usaha itu diikuti kenaikan jumlah tenaga kerja yang bertambah sebesar 12,2 persen atau 4,1 persen per tahun. jumlah tenaga kerja di sektor ukm tercatat 79 juta pekerja dan 70,3 juta diantaranya bekerja di sektor usaha kecil dan sisanya di usaha menengah, jumlahnya meningkat dibandingkan dengan tahun 2000, yaitu 70,4 juta pekerja. produktivitas tiap tenaga kerja tiap tahun pada kurun waktu sama pun menunjukkan peningkatan. untuk usaha kecil, produktivitas meningkat dari rp 8 juta per tenaga kerja menjadi rp 10,5 juta per tenaga kerja. sementara usaha menengah rp 24,7 juta per tenaga kerja menjadi 31,8 juta, dan usaha besar dari rp 1,5 miliar menjadi rp 1,8 miliar. rata-rata investasi yang diserap ukm hanya 41,6 persen dari total investasi. hal itu menunjukkan ukm bukanlah usaha yang bersifat padat modal, dengan rata-rata investasi rp 1,5 juta per usaha per tahun untuk usaha kecil dan rp 1,3 miliar per usaha per tahun untuk usaha menengah. nilainya sangat kecil dibandingkan rp 91,4 miliar untuk tiap unit usaha besar per tahun. berdasarkan data paling akhir tersebut dapat dikatakan bahwa usaha kecil, menengah (ekonomi rakyat), dan usaha besar (konglomerat) memiliki keunggulan masing-masing yang tidak dapat saling menggantikan tetapi justru saling melengkapi. kelompok usaha besar menjadi motor pertumbuhan dan usaha kecil menengah berperan menyeimbangkan pemerataan dan penyerapan tenaga kerja. penegasan itu diperlukan agar tidak berkonotasi membangun ekonomi rakyat adalah anti usaha besar. journal the winners, vol. 5 no. 2, september 2004: 90-107 96 renovasi ekonomi rakyat sektor pertanian ekonomi rakyat sektor usaha pertanian merupakan bagian terbesar dari jumlah unit usaha kecil yang selama ini hidup miskin pas-pasan sebagai akibat diperlakukan tidak adil secara sosial-ekonomi. petani hanya dijadikan “buruh industri revolusi hijau”, menghasilkan pangan murah untuk mensubsidi industri manufaktur. setelah industri berkembang, nilai tukar produk pertanian rendah petani tetap miskin, tidak menikmati hasil pertumbuhan ekonomi. tabel 1, data dari menegkop & ukm menunjukkan bahwa selama periode 19972001 jumlah unit usaha dari semua skala mengalami peningkatan sebesar 430.404 unit dari 39.767.207 unit pada tahun 1997 menjadi 40.197.611 unit pada tahun 2001. secara parsial, kelompok unit usaha yang paling banyak adalah usaha kecil (uk) yang jumlahnya pada tahun 1997 sebesar 39.704.661 unit, pada tahun 2001 mencapai 40.137.773 unit. saat krisis ekonomi mencapai klimaksnya pada tahun 1998, usaha semua kategori mengalami pertumbuhan negatif yang jumlah unit uk sendiri berkurang hampir 3 juta unit atau pertumbuhan sekitar -7,4%. usaha menengah (um) dan usaha besar (ub) mengalami pertumbuhan negatif lebih besar, yakni masing-masing 14,2% dan 12,7%. perbedaan itu memberi kesan bahwa um dan ub mengalami efek negatif lebih besar dibandingkan uk dari krisis ekonomi. tabel 1 jumlah usaha kecil, menengah, dan besar, tahun 1997-2001 (unit) variabel 1997 1998 1999* 2000** 2001*** σ uk 39.704.661 36.761.689 37.859.509 39.121.350 40.137.773 σ um 60.449 51.889 52.214 55.437 57.743 σ ub 2.097 1.831 1.885 2.005 2.095 total 39.767.207 36.815.409 37.913.608 39.178.792 40.197.611 sumber: menegkop & ukm (2002) keterangan: * angka sementara; **angka sangat sementara; ***angka proyeksi selanjutnya, tabel 2 menunjukkan bahwa jumlah unit uk bervariasi menurut sektor ekonomi dan sebagian besar terkonsentrasi di sektor pertanian, peternakan, kehutanan, dan perikanan yang pada tahun 1997 berjumlah 22.511.588 unit dan pada tahun 1998 pada saat krisis ekonomi mencapai titik terparah, jumlahnya meningkat menjadi 23.097.871 unit atau tumbuh 2,6% (dibandingkan um yang tumbuh 1,2%). walaupun tidak ada. studi empiris yang dapat mendukung, dapat diduga (hipotesis) bahwa kenaikan jumlah unit uk tersebut erat kaitannya dengan “boom” yang dialami oleh beberapa subsektor pertanian, khususnya perkebunan sebagai efek “positif” dari depresiasi nilai tukar rupiah terhadap dolar as. hal itu berbeda dengan apa yang dialami oleh uk di sektor industri pengolahan selama krisis dan jumlah uk mengalami penurunan dari 2.817.379 unit pada tahun 1997 menjadi 2.104.856 unit pada tahun 1998. dengan jumlah 22,5 juta unit lebih, uk mewakili sekitar 56,61% (dibandingkan misalnya renovasi sistem menuju… (engkos achmad kuncoro) 97 um hanya 0,004 %) dari total unit usaha dari semua kategori (uk+ um+ub) di sektor pertanian. pada tahun 1998, pangsanya naik menjadi 62,74% sedangkan di sektor industri pengolahan mengalami penurunan menjadi 5,72% dari 7,09% pada tahun 1997. data sementara untuk tahun 1999 dan tahun 2000 dan data proyeksi untuk tahun 2001 menunjukkan bahwa sejak tahun 1999 jumlah unit uk secara relatif di sektor pertanian terus menurun, dengan pertumbuhan selama periode 1998-2001 sekitar 0,9%. tabel 2 jumlah usaha kecil menurut sektor, tahun 1997-2001 (unit) sektor 1997 1998 1999* 2000** 2001*** 1. pertanian peternakan, kehutanan, dan perikanan 22.511.588 23.097.871 23.174.579 23.516.865 23.756.018 2. pertambangan dan penggalian 204.413 137.284 132.617 134.748 140.567 3. industri pengolahan 2.817.379 2.104.856 2.526.163 2.713.857 2.874.383 4. listrik, gas, dan air bersih 13.434 7.319 4.492 4.835 5.174 5. bangunan 199.253 122.945 102.332 110.183 111.539 6. perdagangan, hotel, dan restoran 9.986.510 8.325.351 8.688.215 9.212.900 9.673.872 7. pengangkutan dan komunikasi 1.852.401 1.507.629 1.707.762 1.867.288 1.995.727 8. keuangan, persewaan, dan jasa 71.334 18.519 24.143 25.423 26.171 9. jasa-jasa 2.048.349 1.439.915 1.499.206 1.535.251 1.554.322 jumlah 39.704.661 36.761.689 37.859.509 39.121.350 40.137.773 sumber: menegkop & ukm (2002) keterangan: * angka sementara; **angka sangat sementara; ***angka proyeksi distribusi jumlah unit usaha menurut skala usaha dan sektor ekonomi menunjukkan bahwa, di satu pihak, uk memiliki keunggulan atas um dan ub di sektor pertanian. di pihak lain, uk di indonesia pada umumnya masih dari kategori uk ‘tradisional’. hal itu sangat berbeda jika dibandingkan dengan uk di negara industri maju di asia seperti korea selatan, jepang, dan taiwan yang sangat unggul dalam produksi barang industri dengan bobot teknologi menengah dan tinggi, baik barang jadi maupun setengah jadi, seperti komponen mesin, otomotif, dan alat elektronika. usaha kecil sektor pertanian di pedesaan bersifat tradisional, skala usaha kecil, terpencar, tidak efisien, dan tidak memiliki kelembagaan ekonomi yang mandiri. hal itu merupakan buah politik ekonomi yang tidak serius menggarap sektor kehidupan rakyat banyak. kelembagaan ekonomi petani yang dibentuk tidak dilakukan melalui proses sosial ekonomi (swasta besar) dan politik (kebijakan ekonomi pemerintah. lemahnya kelembagaan ekonomi petani karena penggunaan strategi pengembangan sebagai berikut. 1. tujuan pembentukan kelembagaan terbatas pada peningkatan produksi dengan penerapan teknologi produksi untuk jangka pendek dan belum berorientasi pada peningkatan pendapatan petani melalui peningkatan nilai tambah secara berkelanjutan. journal the winners, vol. 5 no. 2, september 2004: 90-107 98 2. kelembagaan yang dibentuk lebih untuk tujuan distribusi bantuan dan memudahkan tugas kontrol pelaksana program, bukan untuk memberdayakan masyarakat. 3. pengembangan kelembagaan petani cenderung melalui budaya material/teknologi atau perubahan materialistik (produksi, pendapatan) dan mengabaikan budaya nonmaterial (perubahan norma, tata nilai) yang jauh lebih sulit. padahal, teknologi hanya “entry point” untuk membangun kelembagaan. 4. pembinaan kelembagaan selalu menggunakan jalur struktural birokrat yang bias oleh budaya proyek. 5. kelembagaan vertikal, yaitu pasar (swasta besar) dan politik (kebijakan ekonomi) tidak dibangun untuk mendukung kelembagaan petani, malah sebaliknya melemahkan. untuk meningkatkan kesejahteraan petani, perlu kemauan politik ekonomi yang ditujukan untuk menata kelembagaan ekonomi petani. penataan yang dimaksud adalah cara mentransfomasi jaringan ekonomi rakyat pedesaan yang terintegrasi dengan usaha besar dan dukungan politik (kebijakan ekonomi pemerintah). konsep transformasi kelembagaan tradisional (sektor pertanian rakyat) untuk memperkuat jaringan ekonomi kerakyatan di pedesaan pernah diajukan oleh kelompok peneliti litbang pertanian (saptana dkk., 2003). transformasi kelembagaan lokal esman dan uphoff (1984) dan uphoff (1992) dalam saptana dkk. (2003) menglasifikasikan kelembagaan lokal dalam enam kategori sebagai berikut. 1. administrasi lokal (local administration/la) yang terdiri dari agen lokal (local agencies) dan staf pemerintah pusat yang ada di daerah (staff of central government minintries) yang bertanggungjawab kepada birokrat di pusat. 2. pemerintah lokal (local government/lg) yang merupakan kelembagaan politik yang mempunyai wewenang dalam pelaksanaan pembangunan dan bertugas mengeluarkan peraturan serta bertanggung jawab kepada pemerintah daerah. 3. organisasi yang beranggotakan komunitas masyarakat (membership organization/mos) merupakan asosiasi lokal yang bertujuan untuk menolong diri sendiri. 4. kerja sama usaha (cooperative), semacam organisasi lokal yang mempunyai anggota dalam rangka pengelolaan sumber daya ekonomi untuk tujuan memperoleh keuntungan, seperti asosiasi pemasaran, gabungan kredit, masyarakat konsumen, atau kerja sama usaha diantara produsen. 5. organisasi pelayanan (service organizational/sos) merupakan organisasi lokal yang dibentuk dengan tujuan utama untuk membantu anggota yang dapat memberikan manfaat. 6. bisnis swasta (private business/pbs) yang merupakan pelaku ekonomi yang mengoperasionalkan usahanya secara independen dan dapat bergerak pada produksi primer, industri pengolahan, pedagang, atau usaha jasa pelayanan. renovasi sistem menuju… (engkos achmad kuncoro) 99 pengembangan ekonomi kerakyatan hanya dapat dilakukan dengan mempertimbangkan konfigurasi keenam bentuk kelembagaan tersebut yang pada hakikatnya terdiri dari tiga bentuk kelembagaan pokok dalam masyarakat, yaitu komunitas, negara, dan pasar. pilihan strategi pengembangan perekonomian rakyat di pedesaan dapat ditempuh antara lain dengan (1) pengembangan kelembagaan lokal pendukung perekonomian rakyat di pedesaan; (2) pengembangan pertanian rakyat dengan kebudayaan industrial; (3) pengembangan agroindustri berbasis bahan baku setempat; (4) pengembangan teknologi tepat guna dan bersifat spesifik lokasi. terdapat tiga pilar utama kelembagaan sebagai pendukung kehidupan masyarakat di pedesaan, yaitu kelembagaan yang hidup dan telah diterima oleh komunitas lokal atau tradisional (voluntary sector), kelembagaan pasar (private sector), dan kelembagaan politik dalam pengambilan keputusan ditingkat publik (public sector). kelembagaan komunitas lokal-tradisional perlu ditansformasikan ke arah kelembagaan komunitas lokal yang maju dan responsif terhadap perubahan. perubahan tersebut dapat berupa perubahan teknologi (tradisional modern), sektoral (pertanian-industri), maupun tata nilai yang hidup dalam masyarakat (budaya pertanian tradisional-pertanian-industrial). kelembagaan pasar atau private yang dapat menciptakan pelaku ekonomi rakyat yang punya jiwa kewirausahaan tinggi, ulet tidak mengenal lelah, dan dinamis dalam mengikuti perubahan dinamika pasar. sementara itu, kelembagaan pemerintah lokal atau kelembagaan politik dalam sistem pengambilan keputusan haruslah dapat diarahkan pada kelembagaan politik di tingkat lokal yang andal. dengan demikian, diharapkan masyarakat lokal dapat akses terhadap sistem pengambilan keputusan di tingkat kabupaten-kota sebagai unit otonomi yang lebih tinggi. pada gilirannya, masyarakat lokal di pedesaan mempunyai akses dan kontrol terhadap pengelolaan sumber daya di wilayahnya sehingga pemanfaatan dan pemeliharaannya dapat lebih optimal sesuai jiwa desentralisasi pembangunan. kerangka konsep yang diuraikan itu dapat dilihat pada gambar 1 berikut. journal the winners, vol. 5 no. 2, september 2004: 90-107 100 sumber: saptana dkk., 2003 gambar 1 kelembagaan lokal dalam rangka memperkuat jaringan ekonomi kerangka konsep kerakyatan di pedesaan sebagian besar kegiatan fisik pertanian hingga saat ini masih berada di pedesaan. dipandang dari aspek kelembagaan, transformasi pertanian identik dengan proses modernisasi dan pembangunan masyarakat pertanian di pedesaan. dalam pembangunan tadi, pemberdayaan aspek kelembagaan tradisional harus dipandang sebagai faktor penggerak dan sekaligus akselaralor utamanya. jika transformasi kelembagaan tradisional gagal dilakukan, peningkatan daya saing dan keberlanjutan perekonomian pedesaan akan menemui jalan buntu. secara sederhana, kerangka transformasi kelembagaan tradisional pada masyarakat pertanian di pedesaan dapat diperlihatkan pada gambar 2 berikut. sumber: saptana dkk., 2003 gambar 2 arah transformasi kelembagaan tradisional sebagai respons terhadap tuntutan hidup yang lebih baik dan globalisasi pasar terlihat dalam gambar 2 pengertian yang khusus, transformasi kelembagaan tradisional pada masyarakat pertanian di pedesaan merupakan respons dan antisipasi terhadap tuntutan kemajuan (untuk hidup lebih baik) dan mempunyai kesiapan yang tinggi dalam memasuki globalisasi pasar. dengan demikian, proses transformasi kelembagaan harus digerakkan sedemikian rupa sehingga proses itudapat menjadi gejala renovasi sistem menuju… (engkos achmad kuncoro) 101 alamiah dan proses aktif sistem masyarakat yang berada di belakang kegiatan pertanian di pedesaan. dari gambar 2 bahwa proses transformasi budaya usaha pertanian dicirikan oleh perubahan yang mencakup aspek kaitan pasar dan orientasi ekonomi, jenis teknologi, mutu tenaga kerja, dan sumber energi yang digunakan, sumber kapital, mutu manajemen, dan spirit usaha yang menggerakannya dan bentuk keorganisasian (kemitraan) usaha, pelayanan usaha, dan lainnya. arah transformasi itu tidak dapat terbentuk dengan sendirinya atau diserahkan pada mekanisme pasar. jika diserahkan ke pasar maka akan terjadi seperti kondisi saat itu. pengembangan daya saing usaha pertanian kegiatan usaha tani merupakan pembangkit dalam pengembangan perekonomian (usaha pertanian) atau yang berbasis sumber daya pertanian. tanpa ada usaha tani yang kuat dan efisien, mustahil akan dapat dibangun suatu sistem usaha pertanian atau proses peningkatan nilai tambah sumber daya pertanian yang kuat. teknologi yang digunakan untuk itu tidak hanya mencakup bidang usaha tani, misalnya pola tanam dan pemberian input fisik (seperti pupuk, bibit, dan obat-obatan pertanian) namun mencakup juga teknologi untuk kegiatan pengolahan (misalnya, teknik mengolah dengan mesin yang efisien dan berstandar mutu tinggi) dan distribusi (misalnya, pengemasan dan pengangkutan). gambar 3 berikut mengilustrasikan paradigma pengembangan dayasaing usaha pertanian dengan memperhitungkan kelembagaan pedesaan setempat. budaya material * ilmu pengetahuan & teknologi * kapital * input fisik; bibit, pakan dll * prasarana fisik sosial, ekonomi, politik & budaya sumber daya alam & ekosistem budaya non-material kelembagaan # kompetensi sdm # manajemen # organisasi # tata nilai kerja # kepemimpinan # sistem moral & hukum # sistem penyelenggaraan pemerintahan kelembagaan proses produksi usaha budidaya & pertanian usaha non-budidaya & non-pertanian # industri pengolahan hasil pertanian # di t ib i proses peningkatan nilai tambah lainnya daya saing produk pertanian yang tinggi # volume, muta & harga # keteraturan ketersediaan # kesesuaian dgn persepsi # selera konsumen # didukung respon thd tuntutan hidup yg lebih baik pasar global & domestik journal the winners, vol. 5 no. 2, september 2004: 90-107 102 sumber: saptana. dkk., 2003 gambar 3 paradigma pengembangan daya saing usaha pertanian (produk pertanian) dengan memperhitungkan kelembagaan pedesaan setempat gambar 3 memperlihatkan bahwa teknologi tidak dapat dipisahkan dari kerangka kerja sistem pertanian yang dikembangkan di pedesaan. jenis teknologi yang tujuannya sekedar untuk menghasilkan produk pertanian bernilai tambah seadanya atau untuk pertanian subsitem berbeda dengan jenis teknologi untuk menghasilkan produk pertanian yang bernilai tambah tinggi dalam skala desa. pengertian teknologi dapat bersifat sederhana (parsial) dan dapat pula bersifat kompleks. teknologi pemupukan tanaman pangan, misalnya dapat dipandang sebagai sistem teknologi sederhana dan parsial. namun (sistem) teknologi untuk menghasilkan produk pertanian akhir yang bernilai tambah tinggi merupakan sistem teknologi yang bersifat kompleks dan komprehensif. sistem teknologi yang kompleks umumnya terkait dengan sistem kelembagaan yang mendukungnya. dari sudut pandang transformasi perekonomian pertanian, pengertian teknologi untuk usaha tani harus didudukan pada sistem teknologi yang bersifat kompleks. dalam arti, untuk tujuan menghasilkan produk pertanian yang berdaya saing tinggi di pasaran dan berdampak positif terhadap perekonomian masyarakat pedesaan setempat (bukan hanya untuk menghasilkan bahan mentah, misalnya gabah kering giling yang belum stabil dan bernilai tambah rendah). elemen kelembagaan yang perlu ditransformasikan kondisi sumber daya dan ekosistem pertanian di indonesia relatif beragam, d membutuhkan variasi jenis teknologi untuk menanganinya. penyediaan teknologi (usaha tani) secara fisik dan luar, terutama yang diperkenalkan secara top-down (oleh pemerintah), belum menjaminkan dapat diterima oleh sistem sosial setempat. di lapangan, banyak ditemukan bahwa pengembangan teknologi yang berasal dari luar yang rencana idealnya dijadikan "kunci pembuka" percepatan usaha pertanian setempat, justru menjadi pengganjal transformasi kelembagaan tradisional setempat. elemen kelembagaan (tradisional) yang berperan dalam percepatan transformasi usaha pertanian paling tidak mencakup lima hal, yaitu keorganisasian atau kelembagaan usaha pertanian, kepemimpinan sumberdaya manusia (sdm), tata nilai, dan struktur sosial. mempercepat transformasi usaha pertanian berarti memperbaiki atau meningkat kinerja kelima elemen kelembagaan tersebut, terutama yang diarahan untuk mendukung proses pemberdayaan ekonomi kerakyatan di pedesaan. gambar 4 berikut menunjukkan hubungan antara kelembagaan (tradisional) dan proses peningkatan nilai melalui transformasi kelembagaan pedesaan setempat. di samping setiap elemen kelembagaan memerlukan perhatian khusus namun hal yang tidak kalah pentingnya adalah bagaimana mengintegrasikan dan mensejajarkan proses transformasi yang terjadi pada kelembagaan pemerintah, komunal, dan ekonomi pasar di pedesaan. masih terlihat secara kasat mata, bahwa kelemahan transformasi perekonomian masyarakat pedesaan hingga saat ini terletak pada kelembagaan politik atau pemerintah dan kelembagaan komunal. jika renovasi sistem menuju… (engkos achmad kuncoro) 103 keduanya dibuat prioritas, pada kelembagaan politik dan pemerintahan penting dilakukan transformasi. sumber: saptana dkk., 2003 gambar 4 hubungan antar kelembagaan tradisional dan proses peningkatan nilai tambah sumber daya pertanian dan non pertanian melalui transformasi kelembagaan tradisional di pedesaan faktor pendorong kinerja kelembagaan usaha pertanian di pedesaan kinerja aspek keorganisasian dan kelembagaan kemitraan usaha pertanian yang dinilai sehat, dalam arti memiliki daya saing tinggi, seperti diperlihatkan oleh gambar 5. jika kinerja kelembagaan usaha pertanian dapat dikembangkan secara sehat, hal itu akan memberi peluang bahwa proses transformasi kelembagaan untuk pengembangan perekonomian pedesaan akan berlangsung relatif cepat. journal the winners, vol. 5 no. 2, september 2004: 90-107 104 sumber: saptana dkk, 2003 gambar 5 kinerja kelembagaan (keorganisasian) kemitraan usaha pertanian yang didukung oleh faktor konsolidasi dan integrasi antarcabang usaha pertanian, penyehatan iklim usaha, dan interdependensi antarpelaku usahapertanian di pedesaan faktor pendorong kinerja kelembagaan usaha pertanian di pedesaan kinerja kelembagaan usaha pertanian ditentukan paling tidak oleh empat faktor sebagai berikut. 1. adanya konsolidasi antarcabang usaha pertanian sehingga kegiatan usaha pertanian tidak tersekat-sekat. selama ini, sekat tersebut sangat kentara dan menjadi salah satu sumber inefisiensi yang serius. memecahkan masalah inefisiensi tersebut tidak dapat diserahkan begitu saja pada mekanisme kelembagaan ekonomi pasar karena kondisi renovasi sistem menuju… (engkos achmad kuncoro) 105 tersebut dalam jangka pendek menguntungkan para pemilik kapital besar atau pengendali sistem usaha pertanian. idealnya, kelembagaan komunal dijadikan instrumen untuk mengubah tatanan kelembagaan pasar yang tidak sehat tersebut. contoh kelembagaan komunal terdapat di bali dan disebut lembaga banjar. kelembagaan komunal sekuat lembaga banjar di bali pun hingga saat ini belum mampu memecahkan masalah tersebut. oleh sebab itu, kelembagaan pemerintah atau politik harus diberdayakan untuk bersama-sama dengan kelembagaan komunal menyusun kembali tatanan ekonomi masyarakat pedesaan yang lebih sehat, adil, dan berkelanjutan. 2. konsolidasi antarcabang usaha pertanian relatif sehat, hal itu akan membuka peluang terjadinya pengintegrasian antarcabang usaha pertanian yang sehat pula. dari pengamatan di lapangan hingga dewasa ini, tingkat integrasi antarcabang usaha pertanian relatif masih lemah. kekuatan integrasi, biasanya dipusatkan pada integrasi horizontal ditingkat usaha tani telah kuat maka (otomatis) kuat pula integrasi vertikalnya, hal itu dinilai sangat tidak realistis. banyak kasus di lapangan menunjukkan bahwa lemahnya integrasi vertikal dapat menjadi sumber kemandegan dan kemacetan proses adopsi dan difusi teknologi di tingkat usaha tani. bahkan sering dijumpai, faktor kuatnya integrasi antarcabang usaha pertanian secara vertikal dapat menjadi “obat mujarab” bagi percepatan adopsi dan difusi teknologi di tingkat usaha tani. 3. independensi antarpelaku usaha pertanian yang asimetris secara ekstrim menjadikan sistem usaha pertanian kurang tahan terhadap tekanan dan goncangan persaingan yang ketat. independensi yang asimetris itu umumnya ditunjukkan oleh adanya konsentrasi penguasaan kapital pada salah satu atau keseluruhan cabang usaha pertanian. gejala yang muncul akibat independensi yang asimetris tersebut adalah adanya eksploitasi yang berlebihan antargolongan pelaku usaha pertanian “kuat” dengan golongan usaha pertanian “lemah”. si kuat “memeras” si lemah kemudian (karena tidak efisien) sistem usaha pertanian sulit berkembang; walau dalam jangka pendek si kuat telah dapat memperoleh keuntungan berlebihan dari praktik eksploitasi sebelumnya. 4. iklim usaha harus dikembangkan sedemikian rupa oleh pemerintah pusat, daerah, dan desa sehingga membuka peluang besar bagi terselenggaranya sistem perekonomian yang sehat. tampak bahwa penyehatan sistem usaha di pedesaan harus dibebankan pada kelembagaan politik dan pemerintahan. journal the winners, vol. 5 no. 2, september 2004: 90-107 106 penutup simpulan 1. krisis ekonomi di indonesia merupakan akibat dari kebijakan ekonomi terlalu memihak pada pertumbuhan ekonomi yang mengandalkan usaha besar (konglomerat) dan mengabaikan ekonomi rakyat dalam sistem ekonomi kapitalistik. keinginan untuk melakukan reformasi ekonomi seperti yang tertuang dalam gbhn 1998 merupakan bukti adanya kesadaran akan kekeliruan mengabaikan ekonomi rakyat. namun demikian, pemerintahan era reformasi, baik dalam tatanan kebijakan ekonomi makro maupun pengembangan sektor riil, belum mampu mewujudkannya. 2. konsep maupun fakta empiris menunjukkan bahwa usaha besar (konglomerat) dan usaha kecil menengah (ekonomi rakyat) bersifat saling melengkapi. kelompok usaha besar merupakan motor pertumbuhan dan ekonomi rakyat yang berperan menyeimbangkan pemerataan dan penyerapan tenaga kerja. 3. ekonomi rakyat sektor pertanian (petani) merupakan bagian terbesar dari jumlah unit usaha kecil yang selama ini telah mengalami proses pemiskinan sistematis. hal itu menunjukkan bahwa negara telah gagal (state failure) melindungi mayoritas warganya yang hidup dalam kesengsaraan. saran 1. pemerintah era reformasi (1998-2004) belum sepenuh hati melakukan reformasi ekonomi sebagaimana diamanatkan gbhn 1998. tujuh butir paradigma baru reformasi ekonomi sebagaimana tertuang dalam gbhn 1998 harus dijadikan acuan oleh pemerintah baru nanti untuk merenovasi sistem ekonomi menuju ekonomi rakyat yang berkeadilan. 2. pelaku ekonomi rakyat sektor pertanian (petani) merupakan bagian terbesar dari rakyat yang mengalami proses pemiskinan sistematis. oleh karena itu, perlu mendapat prioritas upaya penyelamatan secara sistematis pula. untuk itu, pemerintahan baru di bawah presiden terpilih nanti perlu melakukan penataan kelembagaan ekonomi petani menjadi bagian dari jaringan ekonomi rakyat pedesaan yang terintegrasi dengan usaha besar (konglomerat) dan didukung kebijakan politik ekonomi makro yang kondusif. renovasi sistem menuju… (engkos achmad kuncoro) 107 daftar pustaka badan pusat statistik. 2001. survei usaha terintegrasi 2000, profil usaha kecil dan menengah tidak berbadan hukum tahun 2000. jakarta: badan pusat statistik. indonesia small business research center. 2003. usaha kecil indonesia tinjauan tahun 2002 dan prospek tahun 2003. isbrc – pupuk. menegkop dan ukm. 2001. statistik pengusaha kecil dan menengah tahun 2001. jakarta: kantor menteri negara usaha koperasi dan ukm. mubyarto. 1999. reformasi sistem ekonomi dari kapitalisme menuju ekonomi kerakyatan. aditya media. ________. 2002. ekonomi pancasila. landasan pikir dan misi pendirian pusat studi ekonomi pancasila universitas gajah mada. jogyakarta: bpfe. saptana, syahyuti dan tri pranaji. 2003. transformasi kelembagaan tradisional untuk memperkuat jaringan ekonomi kerakyatan di pedesaan. bogor: psep badan penelitian dan pengembangan pertanian departemen pertanian. critical factors in e-learning …… (yulia magdalena; togar alam napitupulu) 9 critical factors in e-learning influencing student motivation and collaboration in indonesian higher education institution yulia magdalena1; togar alam napitupulu2 1information sytem program, school of information system, bina nusantara university 2master of information system management, binus graduate program, bina nusantara university jl. k. h. syahdan no. 9, palmerah, jakarta 11480, indonesia 1yulia.magdalena@binus.ac.id; 2tnapitupulu@binus.edu abstract the purpose of this research was to determine the effect of e-learning and its elements to student motivation and collaboration. this research was conducted in one of indonesian higher education institutions. a questionnaire was distributed to collect data from students. data were obtained from 145 active undergraduate students. the statistical method of multiple regression analysis was used for data analysis, using software statistical product and service solution (spss) version 22. overall, the results of this research indicate that elearning has a positive impact on student motivation and collaboration. however, it is found that not all elements of e-learning have positive impacts on student motivation and collaboration. keywords: e-learning, student motivation, student collaboration introduction information and communication technology in higher education has been one of the important aspects noticed by the indonesian government. thus, it has become one of the minimum standards of learning, meaning it must be owned by universities in indonesia as specified in regulation of the minister of education and culture of the republic of indonesia number 49 of 2014 (republik indonesia, 2014). according to oye et al. (2012), e-learning is the use of information and communication technology (ict) to improve and facilitate teaching and learning. meanwhile, sulcic and lesjak (2009) have believed that e-learning is a learning process where students get their material through electronic media (internet, intranet, extranet, satellite, audio/video, and/or cd). there are three basic characteristics in e-learning, namely (1) must be in the network, (2) must be accessible through a standard web browser on a computer, and (3) needs to expand the traditional training paradigm (pelet, 2014). e-learning can generally be applied to two learning systems, namely online learning and blended learning. formally, e-learning is defined as direct and indirect communication mediated by an electronic device for the purpose of establishing and understanding knowledge (garrison, 2011). therefore, it can be concluded that e-learning optimizes the use of ict and/or electronic devices to improve and facilitate the teaching and learning process to achieve the goal of learning, which is obtaining an understanding of knowledge. the main purposes of e-learning are to improve the accessibility of education, save costs and time, as well as improve student achievement (oye et al., 2012). moreover, many researchers have discussed the positive effects of the use of e-learning as it increases the commitment of the students in the learning process (rashty in khan & jumani, 2012). mailto:yulia.magdalena@binus.ac.id 10 journal the winners, vol. 19 no. 1, march 2018: 9-19 changes in the learning process as a result of the implementation of e-learning cannot be circumvented. e-learning changes not only the paradigm of the students but also the faculty, coaches, administrative, technical and other support, as well as the institution as a whole. in his research, khan (2005) has created a framework to support the paradigm shift and create a learning environment that is more meaningful. there are eight dimensions/elements in e-learning framework; institutional, management, technological, pedagogical, ethical, interface design, resource support, and evaluation. according to delvecchio and lougney in khan and jumani (2012), one of the weaknesses of e-learning is that it requires more time to follow the course and complete the tasks than the traditional classroom. this means that students must be highly motivated and responsible because they have to do the work themselves. that being said, the students who have low motivation or a bad learning habit can be left behind. in the context of educational psychology, motivation involves the processes that drive, steer, and maintain a behavior (santrock, 2008). in general, motivation increases the student’s time to do his/her job which is an important factor that affects both learning and their achievements in a particular area (ormrod, 2011), pintrich and schunk in chen and jang (2010) have shown in their study that selfdetermination theory (sdt) is one of the most comprehensive and empirically supported theories of motivation available today. the theory distinguishes various types of motivation based on different reasons and purposes that generate an action (ryan & deci, 2000). the most fundamental difference is between intrinsic motivation that refers to doing things because it is inherently interesting or fun, and extrinsic motivation that refers to doing things because it is able to provide separate results. research conducted by khan & jumani (2012) have revealed that e-learning is more helpful in improving student’s motivation than traditional learning models, and recommend the use of e-learning for teaching and learning process to be more appealing. this result is also supported by harandi (2015), whose study confirms that e-learning is an element that influences student’s motivation. another important factor in the online learning environment is the effective collaboration to support students’ learning process. collaborative learning is regarded as one of the most effective ways to improve student’s learning as they help each other gain a better understanding to grasp the theme by discussing their tasks. collaborative learning according to laal and ghodsi (2012) is an educational approach to teaching and learning that involves a group of students to work together to solve the problem, complete task, or create the product. according to hilts & walker in zhu (2011), previous research has shown that students in collaborative learning environments have a more constructive learning process. in the collaborative learning process, students can share information, train critical reflection, negotiate meaning, as well as test and build understanding. another study shows that the use of e-learning effectively supports the collaboration of students in their learning process (al-ani, 2013). indonesia has become one of the countries recording a total growth of e-learning market average of 25% in 2016. however, student’s motivation and collaboration have not experienced similar improvement. hence, there should be research to find out the factors that can increase students’ motivation and collaboration in order to design policies for its improvement. in line with that, the research question is, “what are the e-learning factors that can improve student’s motivation and collaboration?” thus, this research will be conducted to determine the effect of e-learning and its element on student’s motivation and collaboration in one of the higher education institutions in indonesia. the result of the research is expected to be useful in helping the institution and other higher education institutions, in general, to improve their student’s motivation and collaboration by adjusting their strategies. critical factors in e-learning …… (yulia magdalena; togar alam napitupulu) 11 methods this research uses primary data collected by using questionnaire and distributed to undergraduate students of a higher education institution in indonesia. the institution has implemented blended learning and used learning management system (lms). several features of lms allow the students to access learning material, conduct video conference and have a discussion with lecturers and their peers. a questionnaire is applied to collect data from 145 active undergraduate students. the questionnaire comprises of 35 statements related to latent variables within the theoretical framework of the study, as shown in figure 1. they are three statements for institutional, three statements for management, four statements for technological, four statements for pedagogical, three statements for ethical, four statements for interface design, three statements for resource support, three statements for evaluation, five statements for motivation, and three statements for collaboration. the operational variables of this study are adapted from e-learning framework sub-dimensions from khan (2005), and they have been revalidated for this study. the measurement used in this study is the five-point likert scale from strongly disagree (1) to strongly agree (5). a pilot survey has first been conducted to 30 respondents to test the validity and reliability of the questionnaire. the method used for data analysis is multiple regressions. there are several stages of data analysis, namely; residual normality test, f-test, and t-test. normality test is used to determine if the collected data has normally been distributed. f-test is conducted to determine if one of the independent variables positively relates to the dependent variable. lastly, the t-test is conducted to partially determine if one of the independent variables positively relates to the dependent variable. the following are mathematical equations/models that will be tested based on the theoretical framework proposed in figure 1. (1) mt = β10 + β11i + β12m + β13t + β14p + β15et + β16id + β17rs + β18ev+ ε (2) cl = β20 + β21i + β22m + β23t + β24p + β22et + β23id + β24rs + β28ev + ε where, mt = motivation et = ethical cl = collaboration id = interface design i = institutional rs = resource support m = management ev = evaluation t = technological ε = error p = pedagogical figure 1 model of the relationship among variables in the research h4 h5 h8 h7 h10 h11 h12 h13 h14 h15 h16 h3 h1 institutional (x1) management (x2) technological (x3) pedagogical (x4) ethical (x5) interface design (x6) resource support (x7) evaluation (x8) motivation (y1) collaboration (y2) e-learning h2 h6 h9 12 journal the winners, vol. 19 no. 1, march 2018: 9-19 results and discussions table 1 presents the results of normality test that has been conducted on the collected data: table 1 normality test result for model (1) – variable dependent motivation one-sample kolmogorov-smirnov test unstandardized residual n 145 normal parametersa,b mean 0,0000000 std. deviation 0,28305079 most extreme differences absolute 0,069 positive 0,067 negative -0,069 test statistic 0,069 asymp. sig. (2-tailed) 0,090c a. test distribution is normal. b. calculated from data. c. lilliefors significance correction. based on the result that can be seen in table 1, significant value = 0,090; which is bigger than 0,05. thus, it can be concluded that the data of the first multiple regression models tested are normally distributed. table 2 normality test result for model (2) – variable dependent collaboration one-sample kolmogorov-smirnov test unstandardized residual n 145 normal parametersa,b mean 0,0000000 std. deviation 0,34588112 most extreme differences absolute 0,051 positive 0,034 negative -0,051 test statistic 0,050 asymp. sig. (2-tailed) 0,200c,d a. test distribution is normal. b. calculated from data. c. lilliefors significance correction. d. this is a lower bound of the true significance. based on the result in table 2, the significant value = 0,200; which is bigger than 0,05. therefore, it can be concluded that the data of the second multiple regression models tested are also normally distributed. the f-test is conducted to test the following hypotheses: h1 : one or several e-learning dimensions/elements are positively affecting the motivation of students. h2 : one or several e-learning dimensions/elements are positively affecting the collaboration of students. critical factors in e-learning …… (yulia magdalena; togar alam napitupulu) 13 tale 3 shows the results of f-test that has been conducted: table 3 f-test result for e-learning and motivation anovaa model sum of squares df mean square f sig. 1 regression 6,970 8 0,871 10,270 0,000b residual 11,537 136 0,085 total 18,506 144 a. dependent variable: mt b. predictors: (constant), i, m, t, p, et, id, rs, ev based on the result that is shown in table 3, significant value = 0,000; which is lower than 0,05; resulting in the conclusion that one or several e-learning dimensions/elements are positively affecting the motivation of students. table 4 f-test result for e-learning and collaboration anovaa model sum of squares df mean square f sig. 1 regression 6,527 8 0,816 6,441 0,000b residual 17,227 136 0,127 total 23,755 144 a. dependent variable: cl b. predictors: (constant), i, m, t, p, et, id, rs, ev based on the result seen in table 4, significant value = 0,000; which is lower than 0,05. hence, it can be concluded that one or several e-learning dimensions/elements are positively affecting the collaboration of students. further analysis has been conducted to determine which of the e-learning elements that positively has an influence on student’s motivation and collaboration. the t-test among elements of e-learning and motivation has been conducted to test the following hypotheses: h3 : institutional element has an influence on student motivation h4 : management element has an influence on student motivation h5 : technological element has an influence on student motivation h6 : pedagogical element has an influence on student motivation h7 : ethical element has an influence on student motivation h8 : interface design element has an influence on student motivation h9 : resources support element has an influence on student motivation h10 : evaluation element has an influence on student motivation based on the t-test result in table 5, only h5, h6, h7, and h8 can be accepted because significant values of the test show that value is lower than 0,05. this also acts as statistical evidence that the independent variables, which include technological, pedagogical, ethical, and interface design, are significant predictors of the dependent variable, student’s motivation. this result is in line with previous research conducted by bekele (2010) that have stated that technology is a source of student’s motivation in the learning environment that is supported by the internet. it also supports researches by abootorabi (2011), wang and reeves (2007), and bamosa and ali (2000) which stated that learning 14 journal the winners, vol. 19 no. 1, march 2018: 9-19 strategy and clear content have the positive effect on student’s motivation. jerman-blazic and klobucar (2005) have believed that violation of privacy may reduce students’ confidence in the learning process, and wang and reeves (2007) have shown in their study that clear and functional interface promotes students’ motivation in the learning process. table 5 t-test result for elements of e-learning and motivation coefficientsa model unstandardized coefficients standardized coefficients t sig. b std. error beta 1 (constant) 0,332 0,455 0,730 0,467 institutional -0,147 0,080 -0,173 1,833 0,069 management 0,002 0,086 0,002 0,019 0,985 technological 0,192 0,083 0,176 2,309 0,022 pedagogical 0,261 0,092 0,228 2,850 0,005 ethical 0,271 0,071 0,339 3,799 0,000 interface design 0,262 0,103 0,201 2,536 0,012 resource support 0,005 0,066 0,006 0,080 0,937 evaluation 0,071 0,068 0,083 1,044 0,298 a. dependent variable: motivation adaptive learning technology is one of many initiatives which can be used to improve students’ motivation. it is an approach to instruction which utilizes technology to create a personalized learning experience for students and provide different methods to enhance their learning (forsyth et al., 2016). however, personalized learning is not only enabled by the technology, but it also has to be accompanied by an adaptive pedagogy approach. according to bendou, megder, & cherkaoui (2017), there are several pedagogy principles in the adaptive online learning environment that need to be taken into account in consideration of the need to consider the diverse profiles of students, continuous presences, assistance, and feedback as well as adaptation. on the other hand, the hypotheses are not accepted because the significant values of the test for h3, h4, h9, and h10 is higher than 0,05. this also means that the researchers do not have statistical evidence to conclude that the independent variables, which include institutional, management, resource support, and evaluation, are significant predictors of the dependent variable, students’ motivation. this result is contrary to the study that has been done by bamosa and ali (2000), which have stated that administration, sub-dimension of the institutional element, has the positive effect on students’ motivation. this can be caused by the difference of administration as in this research it refers to availability and ease of administration features related to e-learning, not the overall administration response to the student. thus, the research can produce different conclusions if conducted with the administration as a whole. the result is also contrary to the researches that are done by williams and williams (2011) as well as vansteenkiste et al. (2004). they have suggested that the learning environment, which is the sub-dimension of management element, is one of the main sources of motivation and learning environment that supports the autonomy increase of students’ motivation. that being said, learning environment as suggested by williams & williams (2011) may include physical, mental, emotional, and even spiritual elements in some way. whereas in this study, the learning environment is focused on the online platform and how information is distributed there. therefore, the research can also produce different results if it is done by looking at a more comprehensive learning environment. small, snyder, & parker (2009) have suggested in their study that the media in the library have a positive influence on the motivation to learn. it is different with the result of this research, which can be caused by resource support in this study being intended to focus critical factors in e-learning …… (yulia magdalena; togar alam napitupulu) 15 more on the availability of facilities to access reference and books information along with the availability of support services related to e-learning. the result of research conducted by bozon (2013) is consistent with the result from this study, which states that the relationship between assessment and students’ motivation cannot be clearly defined because the nature of this relationship is mediated and controlled by the personality of the students. the t-test among elements of e-learning and collaboration has been conducted to test the following hypotheses: h11 : institutional element has an influence on student collaboration h12 : management element has an influence on student collaboration h13 : technological element has an influence on student collaboration h14 : pedagogical element has an influence on student collaboration h15 : ethical element has an influence on student collaboration h16 : interface design element has an influence on student collaboration h17 : resources support element has an influence on student collaboration h18 : evaluation element has an influence on student collaboration table 6 t-test result for elements of e-learning and collaboration coefficientsa model unstandardized coefficients standardized coefficients t sig. b std. error beta 1 (constant) 0,666 0,555 1,199 0,233 institutional 0,037 0,098 0,038 0,379 0,705 management 0,096 0,105 0,096 0,920 0,359 technological 0,306 0,102 0,247 3,006 0,003 pedagogical 0,068 0,112 0,053 0,609 0,544 ethical 0,180 0,087 0,198 2,064 0,041 interface design 0,006 0,126 0,004 0,045 0,964 resource support 0,011 0,080 0,011 0,133 0,895 evaluation 0,138 0,083 0,143 1,673 0,097 a. dependent variable: collaboration based on the t-test result that can be seen in table 6, only h13 dan h15 can be accepted, because significant values of the test are lower than 0,05. this also means that there is statistical evidence that the independent variables, including technological and ethical, are significant predictors of the dependent variable which is student collaboration. this result is consistent with previous studies done by awedh et al. (2014); alammary (2012); and davidson (2012), which have stated that technology promotes and encourages student collaboration. mobile technology offers features of portability, social connectivity, individuality, and context sensitivity. it has made the learning is moveable, real-time, collaborative, and seamless, which in turn increases students’ collaboration in the learning process (sung, yang, & lee, 2017). other effects that can be obtained is an increase in the student learning process and also improved communication and interpersonal skills of the students. raitman et al. (2005) have suggested that students will feel more confident in interacting and collaborating when there is the protection of the privacy and build student’s trust in the e-learning environment. alternatively, h11, h12, h14, h16, h17, and h18 cannot be accepted, because significant values of the test are higher than 0,05. this also means that researchers do not have statistical evidence to conclude that the independent variables; institutional, management, pedagogical, interface design, resources support, and evaluation are significant predictors of the dependent variable of student collaboration. the result of the study that is done by muilenburg and berge (2005) support this result. 16 journal the winners, vol. 19 no. 1, march 2018: 9-19 it shows that administrative issue, sub-dimension of the institutional element, is one of the barriers for students to learn online. although institutional element is an integral part of e-learning, the results of research conducted to find that the collaboration of the students will not increase in line with the increase in the administration of learning activities. the research result of brindley, walti, and blaschke (2009) also supports the finding of this result that suggests there is no significant relation between evaluations with the participation in the collaboration. in contrast, some previous research are suggesting different result with the findings of that research. razali et al. (2015)’s research shows that the learning environment is one of the three main factors that affect collaboration. this can be caused by the learning environment in this research only focuses on the online learning environment and not learning environment as a whole. the result of this research is also not consistent with the result of research conducted by so and brush (2008) which suggest that the content of the course, sub-dimension of the pedagogical element, has an influence on student collaboration. since different universities can use various types of contents, this difference can occur due to the different nature of content that is applied to the research. in the research that is done by kock (2009), the students emphasize the importance of interface design in collaboration. but the perception of the aesthetic can be different between students so that this perception can be the cause of the different result. the findings in this study are also not consistent with research conducted by pan, ferrer-vinent, and bruehl (2014) which state that there is a positive relationship between the resources viewed by students on student learning, one of which includes collaborations. it can be caused by resource support in this research is intended to focus more on the availability of facilities to access reference and books information and the availability of support services related to e-learning. conclusions e-learning is a learning method that grows rapidly and is used in higher education globally, including in indonesia. previous research shows that e-learning is positively affecting student motivation and collaboration. this research has also confirmed that e-learning has the positive effect on student motivation and student collaboration. further analysis is conducted to study which element of e-learning has the positive effect on student motivation and collaboration. in this research, researchers can conclude that element technological, pedagogical, ethical, and interface design are significant predictors of student motivation. adaptive learning technology and adaptive pedagogy approach is one initiative among many that can be utilized to enhance student motivation. from the result of this research, researchers also can conclude that technology and ethic are significant predictors of student collaboration. it is suggested to adopt mobile technology in learning because it enables learning to be moveable, real-time, collaborative, and seamless. this means to increase students’ motivation and students’ collaboration; an institution can facilitate several factors which are technology for students to do the collaboration, suitable pedagogical approach for e-learning environment, policies related with ethical issues, and also user-friendly interface design. further research may consider design appropriate adaptive learning technology, adaptive pedagogy approach, and mobile technology for higher education. references abootorabi, r. 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(2007). the effects of a web-based learning environment on student motivation in a high school earth science course. educational technology research and development, 55(2), 169–192. https://doi.org/10.1007/s11423-006-9016-3. williams, k. c., & williams, c. c. (2011). five key ingredients for improving student motivation. research in higher education journal, 12, 1–23. zhu, c. (2011). online collaborative learning : cultural differences in student satisfaction and performance. journal for educational research online, 3(1), 12–28. https://doi.org/10.1016/j.compedu.2007.05.009 https://doi.org/article https://doi.org/10.1037/0022-3514.87.2.246 https://doi.org/10.1007/s11423-006-9016-3 how to use iconic image …… (shienny megawati sutanto; marina wardaya) 49 how to use iconic image illustration to increase selling value of fiction works shienny megawati sutanto1; marina wardaya2 1,2visual communication design department, creative industries faculty of ciputra university uc town, citraland surabaya 1shienny.megawati@ciputra.ac.id; 2marina.wardaya@ciputra.ac.id abstract this research aimed to find out how to use iconic images illustration to increase selling value of fiction works. the theoretical basis of this research was visual communication design, illustration, color, and semiotics. the method used in this research was qualitative research by doing interviews with experts who are experienced in publishing and illustration field. another method used was observing children and fiction books which use iconic image illustration to attract consumer’s interest in order to increase books sales. the results of this study show that fiction books with iconic image illustration images have the positive response from consumers who show their interest and desire to buy them. moreover, these results are expected to be useful for the creative industry, especially the sub-sector publishing industry when designing illustrations to be used in a book. keywords: iconic image illustration, selling values, fiction works introduction along with the growing potential of creative industries in indonesia, the book industry in indonesia continues to grow each year. data from the indonesian publishers association (ikapi) shows there are 33.199.557 copies of the book sold in indonesia throughout 2013. based on that data, the following categories contribute to the greatest book sales numbers in indonesia; fiction/literature (adults, children) book is 36%, religion book is 13%, education (lessons) book is 13%, references and dictionaries is 9%, others book is 31%. the last category (others) consists of various categories that also contribute significantly to the sales numbers, each contributing approximately 2% to 5%. they are business and economy, computers and internet, self-development (motivation), social sciences, food, and agriculture (profession/hobby). based on that data, it can be seen that there is a huge growth in the world of books, especially in the field of fiction. this causes a tight competition between publishers, especially in bookstores where publishers compete directly to attract consumers’ attention. according to a simple survey conducted by goodreads.com by questioning readers for a reason to buy a new novel, most of the answers are because they are interested in its cover. indeed, we often hear the proverb ‘don’t judge a book by its cover’. this figuration actually shows the wisdom that people should not judge others only by their appearance. however, it also implies the underlying meaning of the proverb denotatively, that there are still many people who buy a product, including buying books, because they attracted to its cover design. the statement above is not without foundation. from the results of the interviews done with expert users in publishing (editor, illustrator) and extreme users (reviewers, book bloggers), it is known that all elements on the front cover of a book should be carefully designed in order to raise consumers’ interest. as a packaging, the front cover plays an important role in influencing the mailto:1shienny.megawati@ciputra.ac.id 50 journal the winners, vol. 18 no. 2, september 2017: 49-59 perception of potential customers toward the content of the book (gunawan, hagijanto, & pratama, 2014). the intensity of book publishing and book sales competition in stores makes publishers think thoroughly about all aspects before publishing and selling a manuscript in the market. the manuscript must go through various processes before it is published. these processes, namely design planning process, involve authors, editors, and illustrators as image providers. one of the main elements in designing the front cover of a book is the illustration. ross (1963) said that as a packaging element, illustration is not merely a picture enhancer to provide elements of aesthetics only, but also a visual communication element that serves to stimulate and attract potential customers. it has also been observed in bookstores that majority of fiction books, especially those geared toward teenagers and children, make use of illustration as its cover. therefore, illustration can be a part of the process of a book’s fate because book cover has become one of the main factors that affect consumers’ decision in selecting books in stores. besides the cover, illustrations are also often displayed in a book’s content pages. illustrations in content pages have a very significant role as a media to help raise the readers’ feelings and enhance the understanding of the book’s content. illustration in novels can help young readers to visualize the scenes in the books they read (mulcahy & samuels, 1987). the purpose of this study is to determine how to use iconic image illustration to increase selling value of fiction works. therefore, the researcher has examined a set of children’s and fiction books with iconic image illustration, relating them to sales that attract customers to make a purchase. referring to the background of the problems that have been described, the problem statement in this research designated as the research subject is how to use iconic image illustration to increase selling value of fiction works? methods this research uses descriptive research design which does not particularly emphasize on meaning. on the contrary, the emphasis is on descriptive while analyzing more on the data surface and only paying attention to the processes of a phenomenon occurrence rather than the depth or meaning of the data. qualitative descriptive research, according to mayer & greenwood in silalahi (2009), refers solely to the identification of characteristics that distinguish or characterize a group of humans, objects, or events. qualitative descriptive involves the conceptualization process and generates the formation of classification schemes. this qualitative descriptive research explains how to use iconic image illustration to increase the selling value of children’s and fiction books. the researchers researched natural settings and let the observed events flow without controlling the object. the observation was done only through subjective or interpretive approach. the type of data in this research is the interview (in-depth interview) in the form of qualitative data. this data is collected in the form of words or verbal statements, opinions, attitudes, motives, trust perception, behavior, facts, attributes, and knowledge of how to use illustration to increase the selling value of children’s and fiction books. the source of the data is the primary data which is obtained from the answers given by the speakers from the interview. the primary data is in the form of statements, interpretations, activities, and observations conducted by the interviewees on the topic of using illustrations to increase the selling value of children’s and fiction books. the data analysis is done by collecting data and images based on literature and internet access. the interview is done by interviewing with nicholas filbert (cover illustrator for harry potter indonesian edition) and ren puspita (indonesian book blogger and reviewer). lastly, the secondary data is the data obtained from how to use iconic image …… (shienny megawati sutanto; marina wardaya) 51 experts, literature, library, newsletters, and internet. these data are directly related to the information on how to use illustrations to increase the selling value of children’s and fiction books, which are also the objects and formation of this research. results and discussions based on the great dictionary of the indonesian language (pusat bahasa depdiknas, 2008), the word ‘publisher’ is derived from the word ‘publish’. the word ‘publish’ itself implies to release (on newspapers, books, etc.), while the word ‘publisher’ means the person or company that publishes books, magazines, etc. initially, publication only consisted of printing, which was an activity of manufacturing and had not been functioning as a distributor. the publisher only started acting like its current function in the 19th century, namely as a promoter of printed words. world of printing and publishing continues to grow, both the scope of the work as well as the supporting equipment. in the world of publishing, more and more types of books are getting published in various languages and shapes and distributed in different countries. due to the wide variations of books, there are publishers who specialize in publishing certain books such children’s books, fiction books or school textbooks. to attract potential buyers’ interest, books need to be designed specifically based on their own type. in the world of books, besides publishers and printing, there is also the book designer. they are responsible for making sure the book’s appearance looks attractive and represents its content accordingly. in developed countries, the publication of books can be done by several companies. for instance, there are companies that specialize in preparing manuscripts, designing books, organizing and reproducing manuscripts, printing, binding, promoting, distributing, and selling books; each having their respective duties in publishing a book. however, in indonesia, all the work of publishing, designing, and printing are generally still managed in one or two companies only. the publisher is one of the businesses that can be categorized into the creative industry sector. the creative industry is an industry that brings together art, culture, business, and technology, i.e., an industry that consists of the creation process, production, and distribution of goods and services created by intellectual property (united nations, 2008). based on the great dictionary of the indonesian language (pusat bahasa depdiknas, 2008), fiction is a story that is not based on the reality, rather only on the author’s imagination or thought. fiction or popular fiction is a genre used to categorize book types for marketing purposes (wilkins, 2012). there are also two categories of fiction; children’s fiction and adult fiction. children’s fiction is a literature category marketed for children; usually seen from the storyline and the grammar used (kurniawan, 2009). according to nurgiyantoro (2005), children's literature is a literary work that can be understood by children psychologically and emotionally. children can also associate their life experiences with the story presented in those books. in addition, children's literature is generally based on concrete facts and easily imaginable. another expert, sarumpaet (2010) argued that children's literature is literature that children can read with guidance and direction from their parents or family. based on these experts’ opinions, it can be concluded that children's literature is a literary work which tells the world of children that is represented using simple grammatical language to easily be understood and imagined by children up to 12-13 years old of age. the categories included in this part are non-fiction books and novels for teenagers, board books, children songbooks, recognizing alphabetical books, mathematics learning books, picture storybooks, and picture book to learn about reading and concept. 52 journal the winners, vol. 18 no. 2, september 2017: 49-59 on the other hand, adult fiction is a literary work that tells the story of complicated human life and sometimes written using more complex language and content. in general, the literature tells about adult romance, social disparities, or other complicated issues (cantini, 2013). for example, bumi manusia, a novel by pramudya ananta toer, is not appropriate to be read by children because they still have simple-minded thinking. another comparison between the two kinds of literature is how there are more illustrations in children’s books than adult literature books. illustrations are very important in a child's reading, and it is also a unity with the story. that is because children who are still learning how to read particularly pay attention to the pictures in a book. consequently, children’s books could contain only pictures and no words. in this case, it can be concluded that adult literature and children's literature have different consumer targets. children's literature is made with simple contents for them to understand it easily, while adult literature is made with more complex contents for adult reading (hasanah, 2012). this consumer target differences result in the different grammatical use in children's literature and adult literature. children's literature is written in simple language whereas adult literature in complex language. besides, in terms of storyline, stories in children’s literature usually take inspiration from small events that can be observed in everyday life and contain simple moral lessons. an example is the story of kancil mencuri timun. due to children’s simple mindset, the author presents a plot that is easy to understand in order to help children understand the essence of the story easily. one of adult literature works is novel. according to the great dictionary of the indonesian language (pusat bahasa depdiknas, 2008), the novel is a long prose composition which contains series of stories of one's life with people around him/her by emphasizing the character and nature of each subject. meanwhile, tarigan (2011) stated that novel is a story with a plot that is long enough to fill a book or more. therefore, according to its definition, the novel is a fiction book consisting of characters, dialogue, action, and an ongoing plot which aims to entertain the reader (streit & stefanie, 2016). in order to understand about fiction cover design, first is necessary to understand about visual communication design. according to umar hadi in pranajaya, margana, and wahyudi (2015), visual communication design is the expression of ideas and messages from the designer to the public through symbols in the form of images, colors, and text. in communicating, it is necessary to have a sufficient amount of knowledge about who the target aims to be and what the best way to communicate with them is. the better and comprehensive our understanding of these matters the easier it will be to create a communicative visual language (limandoko, 2000). from another perspective, visual communication design is a study which learns about the concept of communication and creative visual expression. these concepts will then be applied to various visual communication media by making use of graphic design elements, namely; letters, colors, compositions, and images or illustrations (aprianti, 2013). the illustration itself comes from the latin language, illustrate, which means to explain or describe with the media images. design and visuals can provide more value in a book as for how illustrations provide an explanation of actions that are translated into words, and vice versa (hunt, 2005). the illustration is not merely an ornament to attract the audience. the illustration also functions as a visualization medium of the idea and message to be delivered. therefore, illustration is a visual appeal to deliver the message in a book to the observer in order to help the message be understood clearly (hartanto, 2001). illustration on a book cover, when designed well, can become an effective design tool. that is because illustrations can provide a strong visual impression and increase the appeal to consumers. many consumers see the visual first before reading the text. hence, illustrations can be assumed as the first appeal seen by consumers when they are selecting books in stores (klimchuk & krasovec, 2012). how to use iconic image …… (shienny megawati sutanto; marina wardaya) 53 visual communication design delivers a message to the target audience in the form of a sign. there are two types of signs: verbal and visual signs. the verbal sign usually comes in the form of language, writing style, theme, and obtained definition. on the other hand, the visual sign can be seen from its visualization, whether it is iconic, indexical or symbolic. semiotics is the study of signs, especially those to convey information and make it communicative. the existence of these signs can replace something else (tinarbuko, 2003). semiotics serves as a tool to give awareness and understanding of the existence of everything. therefore, the sign is present to make something efficient. this certainly also applies to visual signs on a book's cover as it has a fairly complex function of the motivation level of people to see, read, and even market, in which successful rate is deeply affected by the efficiency of these signs. charles sanders peirce's semiotic theory, the triangle meaning theory, with its categorical system is precisely used in producing works. semiotics in pierce's view is an action, influence, or cooperation of three subjects, namely sign, object, and interpreter (nöth, 1990). considering the symbols in a picture book, the authors can first foreground the sign in the triadic relation. the sign is, in part, the string of textual cues which guide the reader in constructing the interpretant. in this view, the sign is connected to the ground or grammar which enables it to mean something (peirce, 1955). the grammar of the picture book is reflected in the arrangement of words (symbols) and images (icons). when a picture book is read to children, oral performance and instructional cues are woven together, thereby creating a multi-layered system of intersecting cues. cues which contribute to the ground of the sign are discussed below. the triangle of meaning theory explores the question of how meaning gets conveyed through a sign when people use it for communicating. according to peirce, a form of the sign is the word. moreover, an object is also something that is often seen as a sign. on the other hand, interpretation is a sign that comes into someone's mind about the object being referred to as a sign. if the three elements interact in someone's mind, the meaning gets conveyed as something that is represented by that sign (tinarbuko, 2003). on each book cover, generally there are two important elements, namely story and book identity. the identity of the book consists of title of the book, author's name, publisher, and age category (children's books, teen novels, and adult novels) (gunawan, hagijanto, & pratama, 2014). stories are usually imprinted on the back of a book, commonly called a synopsis or blurb. meanwhile, the book identity should be posted on the front cover of the book. according to heuer (2013), the front cover of a good book is one that can provide information about the book. the design elements of the book cover should be a concern, especially if it is for children's books and teen fiction books. general guidelines to be noticed in designing book covers for children or teenagers, divided into cover and illustration, are as follows. for cover: (1) the cover is attractive, using enough color (not too much or too little), (2) the title is clear enough to describe the contents, but not too long for it to still raise curiosity. for illustration: (1) the size of the illustration is sufficiently large and the object is clearly illustrated, (2) not too full and crowded (3) the illustrations used are able to attract readers to find out the contents of the book, (4) illustrations are able to explain and enrich the contents, (5) the text or captions that may accompany the illustrations are written well and adequately (stephens, 2008). it can be seen in figure 1. https://www.google.co.id/search?hl=id&tbm=bks&tbm=bks&q=inauthor:%22winfried+n%c3%b6th%22&sa=x&ved=0ahukewing6zkzmtxahubo48khwzgaymq9agiktaa 54 journal the winners, vol. 18 no. 2, september 2017: 49-59 figure 1 new illustration for harry potter indonesian edition (source: gramedia pustaka utama) aside from illustrations, color usage also has a psychological effect toward individual who sees it for it can stimulate emotions. if applied together with appropriate visual symbols, color is a very effective design element to influence consumers’ perception. color and its meaning have a great influence on something it adheres to, and it also gives meaning to an object. almost all nations in the world have their own meaning in color. this can be seen in their national flag respectively, as well as other ritual ceremonies (ikawira, fianto, & sutrisno, 2014). color has the ability to communicate many things to someone. people often use colors to show their emotional atmosphere, taste, political affiliation, and perhaps even their religious beliefs. color could be used to create the impression and cause certain effects. linschoten & mansyur (2007) psychologically described that color is not a symptom that can only be observed but it also affects behavior and plays an important role in aesthetic judgment as well as determines one’s like or dislike on various objects. someone liking a color and reacting under consciousness is part of human psychology. the color target can be achieved through many ways such as (1) physiological response; colors can attract attention although the message that is delivered is neutral. this way, color can create sales by the appeal of impulse on the sales store. (2) the psychological response, color can help express warmth, coldness, quality, heart, and other emotions because the color is based on human nature. colors can also convey the impression of seasons like spring, summer, and other desired feelings. (3) the appeal on senses, color can add dimensions and realism on products whose appearance is not ready to be delivered without color. (4) the appeal on emotions, colors can deliver pleasure and enhance appearance. however, it needs to be reassured that this will increase sales. (5) color is one of the potential tools in the selling process because it appears to the eyes and encourages purchase with the right color usage. the color function in a packaging is to attract attention. however, sales depend on the brain's interpretation of the selected message and style. in selling a product, color’s psychological side will affect human emotions and drive the emotions to take purchasing action (danger, 1992). other than illustrations and color, typography is also an important part of a book cover design. typography is the art and skill in designing, organizing, and composing letters. typography can be found on the cover of books, either as a book title or other design elements (fatimatuzzahrah, patriansyah, & aryanto, 2016). typography is part of the language-related design. the letter is the most basic thing in communicating. when designing a letter, one must consider the size, weight, distance, and type of letter. these traits are often known as legibility, and it is often misunderstood and ignored by designers. legibility is the achievement in controlling the quality and attributes that exist in typography to make it readable. these attributes or ornaments should be made in such a way that the how to use iconic image …… (shienny megawati sutanto; marina wardaya) 55 typography is still readable (carter et al., 2014). however, legibility cannot be explained scientifically as people's opinions about types of fonts are different with each other (design museum, 2010). every element in the book cover, both illustrations and typography, must be placed appropriately. thus, the designer must pay attention to the hierarchy of each element interest in order to determine the size and position of the elements when arranging a book cover. proper layout arrangement can produce a form of harmonization (soedarso, 2014). according to ambrose & harris (2007), the layout is the organization of design elements on a blank field to form an artistic arrangement. the layout can also be called form and field management. the main purpose of the layout is to present images and text elements as communicative as possible to make readers easily receive the information presented. according to mayer (2009), the characteristics of effective book-based multimedia presentation are: (1) consists of text and illustration (multimedia), (2) text and illustrations related should be presented adjacently and not apart (integrated), (3) the presented material must use only the essence of cause-effect explanation, and (4) includes a series of illustration frame with the structured explanation. as explained by nicholas filbert as the cover illustrator for harry potter indonesian edition in our interview, the illustrations on the book cover can represent the overall feeling of that book. one can also directly know about the target audience of that book based on the illustration style of the illustrated cover. meanwhile, ren puspita, who is a blogger and reviewer of indonesian book, explained through interviews that she prefer to read novels which use illustration as its cover. her reason is because they have more illustrations and that makes the book more interesting, especially ones that represent the characters. according to puspita, a book that only uses the letter layout gives the boring impression. it can be seen in figure 2. figure 2 new illustration for harry potter indonesian edition (source: gramedia pustaka utama) besides synopsis of the story, there is no doubt that the first thing that is scored when someone sees a book is the visual display or the cover of the book. therefore, the book’s visual appearance should be made as attractive as possible in order to attract the attention of potential book buyers. an attractive book cover will drive a potential buyer to see and take that book. in order to make an attractive visual appearance, one way is to use a good illustration. that illustration must be appealing, expressive, appropriate to the story setting, and capable of visualizing the scenes in the story. in the 56 journal the winners, vol. 18 no. 2, september 2017: 49-59 case of the fictional book cover, iconic image illustration is preferable. in semiotics, icons are signs that are similar to the object they represent (limandoko, 2000). thus, iconic image illustration is a drawing of the object that looks similar to the real object; or similar to the objects described by the authors in fictional books. for example, in nicolas’ version for harry potter, he chose to illustrate the characters and fantastic beasts known by harry potter readers. nicolas depicted the characters and creatures as similar as possible with the novel description. figure 3 new illustrations for harry potter indonesian edition (source: gramedia pustaka utama) as seen in figure 3, nicolas illustrated the cover for harry potter dan tawanan azkaban with one fantastic beast and several key characters that are featured in the story. the fantastic beast drawn is buckbeak the hippogriff. in the book, buckbeak is described as a magical creature that has the front legs, wings, a head of a giant eagle, along with the hind legs and tail of a horse as a body. in this example, it is clear that nicolas chose to do an iconic image representation of buckbeak by drawing buckbeak’s headshot with the similar likeness to a giant eagle, as for how the creature is depicted in the book. since buckbeak also holds an important role in the story, he is prominently featured in the center of the cover. other characters like sirius black, professor lupin, professor trelawney, ron, hermione, harry himself, and other items such as the knight bus, wands, the crystal ball, and the patronus charms are respectively featured in this cover with the similar likeness to their descriptions in the book. generally, pictured information is preferred compared to written information, because looking at a picture is much easier and simpler. an image, if chosen correctly, can worth a thousand words. moreover, images are individually capable of attracting attention (afuwwa & patiria, 2015). these results show that the design of the front cover has elements of good design, combining color, icon image, and typography to construct information as well as a first mean of communication with consumers. color can be used as a catcher and also as a medium that conveys information through the existing color psychology. typography is used to write titles, synopsis, and other information that can explain the novel. icons or signs are illustrated similarly to the object it represents for the consumers to be interested in buying the book. how to use iconic image …… (shienny megawati sutanto; marina wardaya) 57 in this analysis, the role of psychological factors that influence consumers’ buying interest is to pique their interests when looking at the front cover of the book illustrations. consumer behavior can be influenced by providing stimuli that are provided by illustration, which will increase buying interest. for book cover designers, the process of design elements in such a way can be used as a factor affecting consumer appeal. conclusions as it has been acknowledged, the largest book sales contributor in indonesia is the fiction book. the analysis that has been done during the research is on how to use illustration to increase the selling value of fiction works, especially children's books, and teenage novels. from its results, it can be concluded that making children's books and teenage novels attractive to books enthusiasts require a long and uneasy process (limandoko, 2000). based on those explanations, illustration in a book cover plays a very important role in making communication effective. furthermore, there are information or messages that are deliberately used by communicators (author/illustrator) to be delivered or transmitted to the communicants (the audience/reader) by using picture language. a good illustration is combined with good design application, for instance, a neat and dynamic layout, the use of colors, typography, and ornaments appropriate to the story theme will create a harmonious union. however, the key to successfully increasing a book’s sales is not only the content and attractiveness of the cover but also the right targeted promotional techniques. choosing the right media will help to achieve this. moreover, accurate data is also needed to find out more about the customers’ interest. this data can be obtained through surveys or interviews. from there, it can be concluded and figured about what kind of iconic image illustration is desired by the audience. the results of the survey can be then be used as a reference that will facilitate the process of designing book cover illustration. references afuwwa, a. p., & patiria, a. s. 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(2012). genre and speculative fiction. in d. morley & p. neilsen (eds.), the cambridge companion to creative writing (pp. 37-51). cambridge: cambridge university press. https://doi.org/10.1017/ccol9780521768498.005. http://dx.doi.org/10.21512/humaniora.v5i2.3113 https://doi.org/10.1598/rt.61.6.6 http://unctad.org/en/docs/ditc20082cer_en.pdf microsoft word 02_yeni agustina_setting.docx 12 journal the winners, vol. 11 no. 1, maret 2010: 12-25 kebangkrutan perusahaan menggunakan model altman dan zavgren pada perusahaan food and beverages yeni agustina1; rahmawati2 1,2 jurusan akuntansi, fakultas ekonomi, universitas sebelas maret, jln. ir. sutami 36 a, kentingan, surakarta 57126 abstract the purpose of this research is to show the illustration of the financial performance in food and beverages companies during the years 2001, 2002, 2003, 2004, and 2005. since the indonesian economic crisis which began in middle 1997, most of industry sectors, including food and beverages companies, had some constraints in producing and actualizing their products. one of the important things in making decisions for company managers, creditors, and the future investors is the bankruptcy analysis model to predict company’s bankruptcy. this research used two models developed by edward i. altman (model z-score) and christine v. zavgren (logit model). the result of this research is, generally, the financial conditions of the food and beverages companies are in bad conditions. this situation is connected with the low profitability, liquidity, and activity rates of those companies. keywords: company bankruptcy, altman model, zavgren model, food and beverages abstrak tujuan dari penelitian ini adalah untuk menunjukkan ilustrasi dari kinerja keuangan pada perusahaan makanan dan minuman selama tahun 2001, 2002, 2003, 2004, dan 2005. sejak krisis ekonomi indonesia yang dimulai pada pertengahan 1997, sebagian besar dari sektor industri, termasuk perusahaan makanan dan minuman, memiliki beberapa kendala dalam memproduksi dan mengaktualisasi produk mereka. salah satu hal penting dalam membuat keputusan bagi manajer perusahaan, kreditur, dan investor akan datang adalah model analisis kebangkrutan untuk memprediksi kebangkrutan perusahaan. penelitian ini menggunakan dua model yang dikembangkan oleh edward i. altman (model z-score) dan christine v. zavgren (logit model). hasil dari penelitian ini adalah, pada umumnya, kondisi keuangan perusahaan makanan dan minuman berada dalam kondisi buruk. situasi ini dihubungkan dengan profitabilitas rendah, likuiditas, dan tingkat aktivitas perusahaan tersebut. kata kunci: kebangkrutan perusahaan, model altman, model zavgren, makanan dan minuman kebangkrutan perusahaan .....(yeni agustina; rahmawati) 13 pendahuluan dalam era globalisasi dewasa ini, perdagangan internasional merupakan mata rantai yang saling berkaitan satu dengan yang lainnya, di mana perdagangan internasional diwarnai oleh berbagai perubahan yang menyebabkan peningkatan kompetisi antar dunia. hal tersebut ditandai adanya perdagangan bebas oleh afta pada tahun 2003, diikuti apec tahun 2010, dan wto tahun 2020. perusahaan-perusahaan di seluruh dunia harus berpikir secara global untuk dapat turut bermain di dalam kompetisi yang semakin tajam. perdagangan serta investasi yang bebas dan terbuka di samping merupakan peluang besar bagi indonesia untuk mencapai efisiensi dan peningkatan kesejahteraan penduduk indonesia, sekaligus merupakan tantangan bagi perekonomian indonesia saat ini, pasca krisis moneter yang melanda indonesia di pertengahan tahun 1997. walaupun telah menunjukkan berbagai kemampuan yang berarti, tetapi masih belum cukup kuat untuk menghadapi persaingan dan ketergantungan internasional. krisis ekonomi yang terjadi pada pertengahan tahun 1997 mengakibatkan suatu akibat yang buruk dan kurang menguntungkan bagi sebagian besar dunia, usaha dalam bidang industri manufaktur, perdagangan, maupun jasa pelayanan, tidak terkecuali akibat tersebut dialami perusahaan yang bergerak dalam usaha industri food and beverage. pada keadaan seperti sekarang ini, harga material atau bahan baku semakin tinggi sehingga produktivitas perusahaan food and beverage semakin menurun karena kesulitan mendapatkan sarana penunjang produksi, contohnya adalah bahan baku, sumber daya manusia, dan teknologi. bisnis makanan dan minuman (food and beverages) banyak digunakan sebagai alternatif usaha karena makanan dan minuman merupakan salah satu kebutuhan pokok manusia. industri makanan dan minuman (food and beverages) memiliki karakteristik, yaitu mudahnya perusahaan baru untuk memasuki industri sehingga akan menyebabkan peningkatan persaingan antar perusahaan (weston dan capeland, 1997:35-36). banyaknya perusahaan food and beverages akan menjadikan ancaman dan peluang bagi pemain bisnis ini. ditinjau dari minat konsumen, industri food and beverage diperkirakan sangat diminati konsumen dan tetap eksis di tengah krisis ekonomi dan moneter. namun, apabila ditinjau di pangsa pasar, industri food and beverage tidak hanya dituntut bersaing di dalam negeri saja. dalam perkembangan sekarang ini, banyak muncul produk-produk baru, baik dari dalam negeri maupun industri food and beverage datang dari luar negeri yang mampu tampil beda dari produk sebelumnya, baik mutu, harga serta rasa. namun, pemilihan ekonomi berjalan sangat lambat. sekalipun pertumbuhan ekonomi menunjukkan peningkatan, tetapi masih sangat bergantung pada kondisi yang menyebabkan pertumbuhan tidak dapat berkesinambungan (weston dan copeland, 1997:35-36). untuk itu, agar perusahaan food and beverage dalam negeri tidak kalah bersaing dengan perusahaan luar, penilaiannya tidak lepas dari perusahaan yang memiliki fundamental yang kuat. bisa dikatakan perusahaan seperti itu memiliki manajemen dan kinerja keuangan yang baik. perusahaan masa depan adalah membagikan dividen bagi pemegang saham. namun, dalam kenyataan laba dan membagikan dividen bagi pemegang saham. namun dalam kenyataan setiap saat banyak perusahaan mengalami kesulitan keuangan, kemacetan likuiditas atau pembubaran (agnes sawir, 2002). setiap perusahaan didirikan dengan harapan akan menghasilkan profit sehingga mampu untuk bertahan dalam jangka panjang yang tak terbatas. hal ini berarti dapat diasumsikan bahwa perusahaan akan terus hidup dan diharapkan tidak akan mengalami likuiditas. dalam praktek, asumsi seperti di atas tidak selalu menjadi kenyataan. seringkali perusahaan yang telah beroperasi dalam jangka waktu tertentu terpaksa membubarkan diri karena mengalami kegagalan usaha (kebangkrutan). untuk dapat mengindentifikasikan tanda-tanda awal kebangkrutan perusahaan baik bagi manajemen untuk kinerja. semakin awal tanda-tanda tersebut diketahui, semakin segera pihak kreditur dan pemegang saham juga perlu mengidentifikasikan tanda-tanda awal kebangkrutan supaya dapat segera mengambil keputusan investasi dan kredit untuk menghadapi kemungkinan terburuk berupa bangkrutnya perusahaan yang bersangkutan (agnes sawir, 2002). 14 journal the winners, vol. 11 no. 1, maret 2010: 12-25 adapun permasalahan yang dapat diidentifikasi peneliti adalah (1) bagaimanakah kondisi keuangan perusahaan-perusahaan yang termasuk dalam industri food and beverage yang terdaftar di bej periode 2001-2005 menurut model altman (z-score)?, (2) bagaimanakah kondisi keuangan perusahaan-perusahaan yang termasuk dalam industri food and beverage yang terdaftar di bej periode 2001-2005 menurut zavgren (model logit)?, dan (3) metode manakah menurut kedua analisis tersebut yang dapat memberikan peringatan yang lebih dini terhadap kondisi keuangan perusahaan?. adapun tujuan yang dapat diidentifikasi peneliti adalah sebagai berikut (1) untuk mengetahui kinerja perusahaan food and beverage yang terdaftar di bursa efek jakarta periode 2001-2005 menurut model altman z-score, (2) untuk memperoleh kinerja perusahaan food and beverage yang terdaftar di bursa efek jakarta periode 2001-2005 menurut model zavgren, dan (3) untuk mengetahui metode mana yang dapat memberikan peringatan lebih dini terhadap kondisi keuangan perusahaan. adapun manfaat yang dapat diidentifikasi peneliti adalah sebagai berikut. pertama, bagi praktisi. penelitian ini dapat dimanfaatkan untuk melihat kinerja keuangan perusahaan periode 20012005 dan jika terdapat tanda-tanda kesulitan keuangan yang mengarah pada kebangkrutan, maka pihak manajemen dapat mengambil langkah-langkah preventif untuk menyelamatkan perusahaannya sebagai alternatif analisis dalam pengambilan keputusan dapat tidaknya suatu perusahaan menerima kredit, dan sebagai tambahan bahan pertimbangan dalam melakukan keputusan investasi sehingga mereka dapat mengetahui kondisi kesehatan suatu perusahaan. kedua, bagi akademisi. penelitian ini diharapkan dapat memperluas wawasan dan pengetahuan penulis tentang penilaian tingkat kebangkrutan kelompok perusahaan food and beverage yang berkaitan di bej periode 2001-2005, serta dapat digunakan sebagai referensi dalam penelitian telah lanjut untuk menghasilkan model prediksi kebangkrutan yang dapat diterapkan untuk semua jenis industri di indonesia. analisis diskriminan altman merupakan salah satu teknik statistik yang biasa digunakan untuk memprediksi adanya kebangkrutan suatu perusahaan. sejumlah studi telah dilakukan untuk mengetahui kegunaan analisis rasio keuangan dalam memprediksi kegagalan perusahaan. altman telah mengkomunikasikan beberapa rasio menjadi model prediksi dengan teknik statistik, yaitu diskriminan yang digunakan untuk memprediksi kebangkrutan perusahaan dengan istilah yang sangat terkenal yang disebut z-score. z-score adalah skor yang ditentukan dari perhitungan standar kali nisbah-nisbah keuangan yang akan menunjukkan tingkat kemungkinan kebangkrutan perusahaan z-score, ditentukan dengan menggunakan rumus sabagai berikut (supardi dan mastuti, 2003 ); z-score = 0,717 x1 + 0,847 x2 + 3,107 x3 + 0,420 x4 + 0,988 x5 keterangan : x1 = working capital/total assets x2 = retained earning/totak assets x3 = earning before interest and tax/total assets x4 = market value equity/book value of debt x5 = sales/total assets uraian masing-masing variabel tersebut adalah sebagai berikut (supardi dan mastuti, 2003). pertama, working capital total asset (x1) atau modal kerja/total aktiva. modal kerja yang dimaksud dalam x1 adalah selisih antara aktiva lancar dengan hutang lancar. rasio x1 pada dasarnya merupakan salah satu rasio likuiditas yang mengukur kemampuan perusahaan dalam memenuhi kewajiban jangka pendek. hasil rasio tersebut dapat negatif apabila aktiva lancar lebih kecil dari kewajiban lancar. jika dikaitkan dengan indikator-indikator kebangkrutan seperti yang disebutkan di atas, maka indikator yang dapat digunakan untuk mendeteksi adanya masalah pada tingkat likuiditas perusahaan adalah indikator internal seperti ketidakcukupan kas, utang dagang membengkak, utilisasi kebangkrutan perusahaan .....(yeni agustina; rahmawati) 15 modal (harta kekayaan menurun), penambahan utang yang tak terkendali, dan beberapa indikator lain. kedua, retained earning/total assets ( x2) atau laba ditahan/total aktiva. rasio ini mengukur akumulasi laba selama perubahan beroperasi. umur perusahaan berpengaruh pada rasio ini semakin lama perusahaan beroperasi memungkinkan untuk memperlancar akumulasi laba ditahan. hal tersebut menyebabkan perusahaan yang masih relatif muda pada umumnya akan menunjukkan hasil rasio tersebut rendah, kecuali yang labanya sangat besar pada awal masa berdirinya. ketiga, earning before interest and tax/total assets ( x3) atau laba sebelum bunga dan pajak/total aset. rasio tersebut mengukur kemampuan perusahaan dalam menghasilkan laba dari aktiva yang digunakan. rasio ini merupakan kontributor terbesar dari model tersebut. beberapa indikator yang dapat digunakan dalam mendeteksi adanya masalah pada kemampuan profitabilitas perusahaan di antaranya adalah piutang dagang meningkat, rugi terus-menerus dalam beberapa kuartal, persediaan meningkat, penjualan menurun, terlambatnya hasil penagihan piutang, kredibilitas perusahaan berkurang serta kesediaan memberi kredit pada konsumen yang tidak membayar pada waktu yang ditetapkan. keempat, market value equity/book value of deb (x4) atau nilai pasar dari modal/nilai buku hutang. modal yang dimaksud adalah gabungan nilai pasar dari modal biasa dan saham preferen, sedangkan hutang mencakup hutang lancar dan hutang jangka panjang. rasio ini mengukur kemampuan perusahaan dalam memberikan jaminan kepada setiap hutangnya melalui modalnya sendiri. kelima, sales/total assets (x5) atau penjualan/total aktiva. rasio ini merupakan rasio yang mendeteksi kemampuan dana perusahaan yang tertanam dalam keseluruhan aktiva berputar dalam satu periode tertentu. rasio ini dapat pula dikatakan sebagai rasio yang mengukur kemampuan modal yang diinvestasikan oleh perusahaan untuk menghasilkan revenue. model prediksi kebangkrutan secara umum dikenal sebagai pengukuran atas kesulitan keuangan. tiga tahapan prekembangan dari pengukuran kesulitan keuangan terdiri dari analisis universal, analisis multivariate, dan analisis logit. analisis universal mengasumsikan bahwa suatu variabel tunggal dapat digunakan sebagai predictive purpose. model univariat yang dipaparkan oleh wille beaver ini telah menghasilkan ketetapan prediksi dalam level yang sedang. analisis univarial mengindentifikasi faktor yang berhubungan dengan kesulitan keuangan, tetapi bagaimanapun juga model ini tidak menghasilkan sebuah pengukuran dari risiko yang relevan. pada tahapan selanjutnya dari pengukuran atas kesulitan keuangan merupakan analisis multivariat (metode mda), dengan mencoba untuk menyelesaikan indikasi konflik potensial yang mungkin dihasilkan dari penggunaan variabel tunggal yang paling banyak menggunakan metode mda adalah edward i altman, profesor keuangan dari stem scholl of busineess, new york university. altman z-score atau zeta model mengkombinasikan variasi pengukuran dari probabilitas risiko. hasil dari model ini menunjukkan bahwa risiko kebangkrutan perusahaan adalah relatif standar. studi awal dari altman membuktikan bahwa modelnya sangat akurat dan secara tepat memprediksi kebangkrutan dari sampel awal (brian n gibson, 1998). di samping hasil positif dari studinya, model altman juga dianggap mempunyai kelemahan yang diasumsikan variabel-variabel dalam sampel data terdistribusi secara normal. ada beberapa pihak yang juga menyatakan bahwa hasil perhitungan model. analisis distrimunal multivariat mempunyai nilai interpretasi yang sempit dan prosedur perbandingan yang mengacu pada keinginan penulis. zavgren pada tahun 1985 mengembangkan modelnya untuk berusaha mengoreksi masalah tersebut. modelnya menggunakan analisis logit untuk memprediksi kebangkrutan. model logit dianggap lebih valid, model ini dapat diinterpretasikan sebagai sebuah tipe analisis regresi yang digunakan jika dependen variabel merupakan dummy variabel, variabel yang mengategorikan data menjadi 2 grup, misalnya kelompok bangkrut dan tidak bangkrut yang dapat menghasilkan nilai 0 dan 1. lebih lanjut analisis logit sebenarnya menghasilkan probabilitas (dalam prosentasi) kebangkrutan, juga perhitungan probabilitas memungkinkan pengukuran atas tingkat efektivitas manajemen. zavgren menggunakan model ini pada 45 perusahaan yang bangkrut dan tidak bangkrut, berdasarkan skala industri dan aset tertentu dengan probabilitas sebesar 50%, model ini mempunyai tingkat akurasi sebesar 82% untuk memrediksi kebangkrutan. analisis logit ini sering digunakan dalam penelitian 16 journal the winners, vol. 11 no. 1, maret 2010: 12-25 karena mempunyai karakteristik yang baik, misalnya tidak perlu untuk beradaptasi dengan sampel yang baik, misalnya tidak perlu untuk beradaptasi dengan sampel yang tidak proposional untuk konstanta tertentu (maddala, 1992, dalam setiawan, 2004). dari berbagai penelitian klasik, disimpulkan bahwa analisis diskriminan dan analisis logit banyak digunakan karena 2 alasan yaitu (1) analisis ini merupakan teknik pertama yang digunakan untuk memprediksi kesulitan keuangan dan dikembangkan menjadi teknik-teknik berikutnya; dan 2) analisis ini lebih mudah digunakan dalam memprediksi kesulitan keuangan dibandingkan dengan teknik-teknik yang lain (setiawan, 2004). aplikasi dari model logit zavgren membutuhkan 4 langkah, yaitu pertama adalah serangkaian 7 rasio keuangan dihitung, kedua adalah setiap rasio dikalikan dengan koefisien khusus, ketiga adalah nilai atau hasil yang diperoleh dijumlahkan secara bersama (y), dan akhirnya probalitas kebangkrutan perusahaan dikalkulasi dengan fungsi probabilitas logit. adapun probabilitas kebangkrutan model logit adalah: yi e p + = 1 1 di mana pangkat y adalah fungsi multivariable yang terdiri dari konstanta dan koefisien dari sekumpulan variabel-variabel/yaitu rasio-rasio keuangan). sedangkan e adalah bilangan alam yang bernilai 2.1828. nilai probabilitas yang mendekati 1/1 atau 100% dikategorikan dalam kesulitan keuangan. zavgren menggunakan logit untuk membedakan perusahaan yang bangkrut dan non bangkrut. model zavgren mendefinisikan sebagai berikut: y = 0,23883 – 0,108 (inv) – 1,583 (rec) – 10,78 (csah) + 3,074 (quick) + 0,481 (roi) + 4,35 (debt) + 0,11 (turn) di mana: inv : persediaan/ penjualan rec : piutang/ persediaan cash : kas/ total aktiva quick : aktiva lancar/ hutang lancar roi : laba operasi bersih/ (total aktiva hutang lancar) deb : hutang jangka panjang/ (total aktiva – hutang lancar) turn : penjualan/ (modal keja + aktiva tetap) variabel y dengan nilai negatif meningkatkan probabilitas kebangkrutan karena akan mengurangi e, y sampai dengan nol, dengan kesimpulan bahwa kebangkrutan akan terjadi apabila probabilitas yang dihasilkan mendekati 1/1 atau 100%. di samping itu, variabel y dengan nilai positif menurunkan probabilitas kebangkrutan. dengan demikian, probabilitas kondisional nilai logit berada di antara 0 dan 1 (hosmer dan lemeshou, 1989 dalam puri respathi, 2003). adapun keterangan dari 7 variabel tersebut adalah (1) average inventories / sales atau persediaan/penjualan. perusahaan dengan rasio inventories yang tinggi, rasio perputaran persediaan akan menurun. oleh karena itu, rasio likuiditas jangka pendek dan profitabilitas kesulitan keuangan meningkat; (2) average receivables / average inventories atau piutang/persediaan. perusahaan dengan rasio receivables yang tinggi secara penerimaan kasnya menurun secara relatif terhadap perputaran persediaan. oleh karena itu, risiko likuiditas jangka pendek dan profitabilitasnya kesulitan keuangan meningkat; (3) cash + marketable securities)/total assets atau kas/total aktiva. perusahaan dengan proporsi kas yang tinggi mempunyai kapasitas untuk membayar hutang jangka pendek sehingga menurunkan probabilitas kesulitan keuangan; (4) quick assets / current liabilities atau aktiva lancar/hutang lancar. rasio cepat yang besar mengindikasikan tingginya kapasitas untuk membayar hutang. selain itu, kapasitas harta lancar juga tinggi. dengan rasio cepat yang meningkat, maka probabilitas keuangan menurun; (5) income from continuing operations / (total assets – current kebangkrutan perusahaan .....(yeni agustina; rahmawati) 17 liabilities) atau laba opersi bersih/ (total aktiva – hutang lancar); (6) yang dimaksud dengan laba operasi bersih adalah kelebihan pendapatan atas harga pokok penjualan dan beban operasi (setiawan, 2004 ) atau laba lainnya, laba dari kegiatan tambahan atau sampingan, laba investasi, keuntungan, dan kerugian luar biasa serta pajak penghasilan (nugroho w., 1994: 95). rasio roi yang tinggi mengindikasikan pengembalian investasi terjadi dalam waktu singkat sehingga menurunkan probabilitas kesulitan keuangan; (7) long-term debt / (total assets – current liabilities) atau hutang jangka panjang / (total aktiva – hutang lancar). proporsi hutang yang tinggi dalam struktur hutang akan meningkatkan probabilitas kseulitan keuangan; dan (8) sales / (net working capital + fixed assets) atau penjualan / (modal kerja + aktiva tetap). merupakan rasio yang tinggi mengindikasikan kemampuan perusahaan untuk memutar aset menjadi penjualan dengan cepat (sehingga cepat pula untuk menjadi kas). dengan demikian, profitabilitas kesulitan keuangan menurun karena peningkatan rasio tersebut. kerangka pemikiran penelitian adalah sebagai berikut. studi kebangkrutan perusahaan pertama kali dilakukan oleh beaver (1996). model altman menggunakan 6 kelompok rasio keuangan dan membuat univariate analysis, yaitu menghubungkan tiap-tiap rasio untuk menentukan rasio mana yang paling baik digunakan sebagai predikator. dari 6 kelompok rasio tersebut, rasio dari aliran kas terhadap kewajiban total merupakan predikator yang paling baik untuk menentukan tingkat kebangkrutan perusahaan. dengan studi ini, beaver menemukan bahwa rasio keuangan terbukti sangat berguna untuk prediksi kebangkrutan dan dapat digunakan untuk membedakan secara akurat perusahaan yang akan jatuh bangkrut dan yang tidak. studi lain oleh altman (1968) telah menemukan ada 5 rasio keuangan yang dapat digunakan untuk mendeteksi kebangkrutan perusahaan beberapa saat sebelum perusahaan tersebut bangkrut. setyorini dan halim (1999) melakukan studi potensi kebangkrutan perusahaan pada perusahaan yang terdaftar di bursa efek jakarta dengan menggunakan analisis z-score altman dan model logit (zavgren) serta menyimpulkan bahwa terdapat perbedaan potensi kebangkrutan secara signifikan antara kedua model tersebut. berdasarkan studi tersebut, menunjukkan konsistensi bahwa rasio keuangan sangat bermanfaat sebagai indikator dan prediksi kebangkrutan. rasio keuangan altman (model z-score) 1. working capital / total asset 2. retained earnings / total asset 3. earning before income and tax / total asset 4. market value of equity / book value of asset 5. sales / total asset rasio keuangan zavgren ( model logit ) 1. inv : persediaan / penjualan 2. rec : piutang /persediaan 3. cash : kas / total aktiva 4. quick : aktiva lancar / hutang lancar 5. roi : laba operasi bersih / ( total aktiva – hutang lancar) 6. deb : hutang jangka panjang / ( total aktiva – hutang lancar ) 7. turn : penjualan / ( modal kerja + aktiva tetap ) gambar 1 model kerangka pemikiran hipotesis yang digunakan adalah sebagai berikut. ha : terdapat perbedaan nilai kebangkrutan perusahaan dengan menggunakan model altman (z-score) dan model logit (zavgren) pada perusahaaan food and beverages. potensi kebangkrutan perusahaan food and beverages 18 journal the winners, vol. 11 no. 1, maret 2010: 12-25 metode penelitian objek penelitian penelitian ini akan dilakukan pada industri food and beverages yang go public di bursa efek jakarta. pemilihan industri food and beverages dikarenakan industri ini memiliki karakteristik (weston dan copeland, 1997:36), yaitu (1) perusahaan baru mudah untuk memasuki industri sehingga akan menyebabkan peningkatan persaingan antar perusahaan; (2) perusahaan baru mudah untuk memasuki industri dan kemampuan perusahaan pesaing untuk memperluas kapasitasnya akan menyebabkan perubahan stabilitas margin laba dan pertumbuhan atau stabilitas penjualan dari perusahaan; (3) karakteristik industri, laba, dan tingkat penjualan merupakan faktor-faktor yang mempengaruhi struktur keuangan suatu perusahaan. sebagai bukti bahwa perusahaan baru mudah masuk dan bersaing pada industri ini, yaitu industri food and beverages merupakan industri dengan jumlah perusahaan terbanyak pada kelompok manufaktur yang terdaftar di bursa efek jakarta. penelitian ini menggunakan metode diskriptif, yang dimaksudkankan untuk mengukur dengan cermat terhadap fenomena sosial tertentu. jenis penelitian dalam metode deskriptif yang digunakan adalah studi kasus, yang meneliti secara rinci suatu objek tertentu selama kurun waktu tertentu dengan cukup mendalam dan menyeluruh, termasuk lingkungan dan kondisi masa lalunya (singarimbun, 1995:9). dalam rangka menguji hipotesis yang diajukan, penelitian ini pada dasarnya menguji hubungan linier antara variabel independen dengan variabel dependen. populasi dan penentuan sampel populasi dalam penelitian ini adalah semua perusahaan yang bergerak di bidang food and beverages yang terdaftar di bursa efek jakarta periode 2001-2005. sedangkan pengambilan sampelnya menggunakan teknik purposive sampling (adib, 2004:4). adapun sampel dalam penelitian ini adalah perusahaan food and beverage yang memenuhi kriteria (1) perusahaan food and beverage tersebut terdaftar di bursa efek jakarta pada tahun 2001-2005; dan (2) perusahaan food and beverage tersebut mempublikasikan laporan keuangan tahunan yang lengkap. jumlah perusahaan food and beverages yang terdaftar di bej tahun 2001 sampai 2005 adalah sebanyak 20 perusahaan dan satu perusahaan datanya tidak lengkap. jadi, dari 20 perusahaan, hanya 19 perusahaan yang memenuhi kriteria untuk dijadikan sampel. perusahaan tersebut adalah pt ades alfindo putrasetia tbk, pt aqua golden mississippi tbk, pt cahaya kalbar tbk, pt delta djakarta tbk, pt fast food indonesia tbk, pt indofood sukses makmur tbk, pt mayora indah tbk, pt multi bintang indonesia tbk, pt putra sejahtera pioneerindo tbk, pt prasidha aneka niaga tbk, pt sari husada tbk, pt sekar laut tbk, pt siantar top tbk, pt sierad produce tbk, pt suba indah tbk, pt asia intielera tbk, pt tunas baru lampung tbk, dan pt ultrajaya milk industri tbk. pengukuran variabel variabel penelitian model altman (z-score) variabel-variabel dalam model keuangan altman (supardi dan mastuti, 2003) adalah sebagai berikut. pertama, working capital total asset (x1) atau modal kerja / total aktiva. modal kerja yang dimaksud dalam x1 adalah selisih antara aktiva lancar dengan hutang lancar. rasio x1 pada dasarnya merupakan salah satu rasio likuiditas yang mengukur kemampuan perusahaan dalam memenuhi kewajiban jangka pendek. hasil rasio tersebut dapat negatif apabila aktiva lancar lebih kecil dari kewajiban lancar. jika dikaitkan dengan indikator-indikator kebangkrutan seperti yang disebutkan di kebangkrutan perusahaan .....(yeni agustina; rahmawati) 19 atas, maka indikator yang dapat digunakan untuk mendeteksi adanya masalah pada tingkat likuiditas perusahaan adalah indikator internal seperti ketidakcukupan kas, utang dagang membengkak, utilisasi modal (harta kekayaan menurun), penambahan utang yang tak terkendali, dan beberapa indikator lain. kedua, retained earnings / total assets (x2) atau laba ditahan/total aktiva. rasio ini mengukur akumulasi laba selama perubahan beroperasi. umur perusahaan berpengaruh pada rasio ini semakin lama perusahaan beroperasi memungkinkan untuk memperlancar akumulasi laba ditahan. hal tersebut menyebabkan perusahaan yang masih relatif muda pada umumnya akan menunjukkan hasil rasio tersebut rendah, kecuali yang labanya sangat besar pada awal masa berdirinya. ketiga, earnings before interest and tax / total assets (x3) atau laba sebelum bunga dan pajak / total aset. rasio tersebut mengukur kemampuan perusahaan dalam menghasilkan laba dari aktiva yang digunakan. rasio ini merupakan kontributor terbesar dari model tersebut. beberapa indikator yang dapat digunakan dalam mendeteksi adanya masalah pada kemampuan profitabilitas perusahaan di antaranya adalah piutang dagang meningkat, rugi terus-menerus dalam beberapa kwartal, persediaan meningkat, penjualan menurun, terlambatnya hasil penagihan piutang, kredibilitas perusahaan berkurang serta kesediaan memberi kredit pada konsumen yang tidak membayar pada waktu yang ditetapkan. keempat, market value equity / book value of deb (x4) atau nilai pasar dari modal / nilai buku hutang. modal yang dimaksud adalah gabungan nilai pasar dari modal biasa dan saham preferen, sedangkan hutang mencakup hutang lancar dan hutang jangka panjang. rasio ini mengukur kemampuan perusahaan dalam memberikan jaminan kepada setiap hutangnya melalui modalnya sendiri. kelima, sales / total assets (x5) atau penjualan / total aktiva. rasio ini merupakan rasio yang mendeteksi kemampuan dana perusahaan yang tertanam dalam keseluruhan aktiva berputar dalam satu periode tertentu. rasio ini dapat pula dikatakan sebagai rasio yang mengukur kemampuan modal yang diinvestasikan oleh perusahaan untuk menghasilkan revenue. variabel penelitian zavgren (model logit) pertama, average inventories/sales atau persediaan/penjualan. perusahaan dengan rasio inventories yang tinggi, rasio perputaran persediaan akan menurun. oleh karena itu, rasio likuiditas jangka pendek dan profitabilitas kesulitan keuangan meningkat. kedua, average receivables / average inventories atau piutang / persediaan. perusahaan dengan rasio receivables yang tinggi, secara penerimaan kasnya menurun secara relatif terhadap perputaran persediaan. oleh karena itu, risiko likuiditas jangka pendek dan profitabilitasnya kesulitan keuangan meningkat. ketiga, (cash + marketable securities) / total assets atau kas / total aktiva. perusahaan dengan proporsi kas yang tinggi mempunyai kapasitas untuk membayar hutang jangka pendek sehingga menurunkan probabilitas kesulitan keuangan. keempat, quick assets / current liabilities atau aktiva lancar / hutang lancar. rasio cepat yang besar mengindikasikan tingginya kapasitas untuk membayar hutang. selain itu, kapasitas harta lancer juga tinggi. dengan rasio cepat yang meningkat, maka probabilitas keuangan menurun. kelima, income from continuing operations / (total assets – current liabilities) atau laba operasi bersih / (total aktiva – hutang lancar). yang dimaksud dengan laba operasi bersih adalah kelebihan pendapatan atas harga pokok penjualan dan beban operasi (setiawan, 2004) atau laba lainnya, laba dari kegiatan tambahan atau sampingan, laba investasi, keuntungan dan kerugian luar biasa. serta pajak penghasilan (nugroho w, 1994: 95). rasio roi yang tinggi mengindikasikan pengembalian investasi terjadi dalam waktu singkat sehingga menurunkan probabilitas kesulitan keuangan. keenam, long-term debt / (total assets – current liabilities) atau hutang jangka panjang / (total aktiva – hutang lancar). proporsi hutang yang tinggi dalam struktur hutang akan meningkatkan probabilitas kesulitan keuangan. ketujuh, sales /(net working capital + fixed assets) atau penjualan / (modal kerja + aktiva tetap). merupakan rasio yang tinggi mengindikasikan kemampuan perusahaan untuk memutar asset menjadi penjualan dengan cepat (sehingga cepat pula untuk menjadi kas). dengan demikian, profitabilitas kesulitan keuangan menurun karena peningkatan rasio tersebut. 20 journal the winners, vol. 11 no. 1, maret 2010: 12-25 data dan sumber data dalam penelitian ini, data yang dibutuhkan adalah data sekunder, yaitu data keuangan yang berupa neraca dan laporan laba rugi tahun 2001 hingga 2005. penulis tidak melakukan pengambilan data melalui data primer, tetapi penulis mengambil data sekunder antara lain total aktiva, hutang lancar, kewajiban lancar, nilai ukun, laba ditahan, penjualan total, ebit, harga per lembar saham, dan jumlah saham yang beredar, dari indonesia capital market directory tahun 2001 hingga 2005. metode analisis data metode analisis data dengan model altman tahapan analisis data yang dilakukan oleh penulis untuk menentukan kondisi keuangan dengan menggunakan model altman adalah sebagai berikut. pertama, menghitung rasio keuangan, yaitu rasio modal kerja / total aktiva sebagai x1, rasio saldo laba / total aktiva sebagai x2, rasio ebit / total aktiva sebagai x3, rasio nilai pasar modal sendiri / nilai buku hutang sebagai x4, dan rasio penjualan / total aktiva sebagai x5. kedua, melakukan perhitungan dengan analisis diskriminan yang dikemukakan oleh altman dengan model berikut: z-score = 0,717 x1 + 0,847 x2 + 3,107 x3 + 0,420 x4 + 0,998 x5. ketiga, melakukan interpretasi hasil perhitungan atas klasifikasi sesuai perusahaan dapat digolongkan dari hasil nilai z-score. kondisi perusahaan dapat digolongkan sebagai berikut: z < 1,20 : perusahaan dalam kondisi potensial bangkrut 1,20 < z < 2,90 : perusahaan dalam kondisi kritis / rawan z > 2,90 : perusahaan dalam kondisi sehat metode analisis data dengan model zavgren tahapan analisis data yang dilakukan oleh penulis untuk menentukan kondisi keuangan perusahaan dengan model zavgren adalah sebagai berikut. pertama, menghitung rasio keuangan, yaitu: inv : persediaan / penjualan rec : piutang / persediaan cash : kas / total aktiva quick : aktiva lancar / hutang lancar roi : laba operasi bersih / (total aktiva – hutang lancar) deb : hutang jangka panjang / (total aktiva – hutang lancar) turn : penjualan / (modal kerja + aktiva tetap) kedua, melakukan perhitungan dengan model logit yang dikemukakan oleh zavgren yang dirumuskan sebagai berikut: yi e p + = 1 1 di mana pangkat y adalah fungsi multivariable, yang terdiri dari konstanta dan koefisien dari sekumpulan variable-variabel, yaitu rasio–rasio keuangan. sedangkan e adalah bilangan alam yang bernilai 2.1828. nilai probalitas yang mendekati 1/1 atau 100% dikategorikan dalam kesulitan keuangan. zavgren menggunakan logit untuk membedakan perusahaan yang bangkrut dan nonbangkrut. model zavgren mendefinisikan sebagai berikut: kebangkrutan perusahaan .....(yeni agustina; rahmawati) 21 y = 0,23883 – 0,108 (inv) – 1,583 (rec) – 10,78 (csah) + 3,074 (quick) + 0,481 (roi) + 4,35 (debt) + 0,11 (turn) variabel y dengan nilai negatif meningkatkan probalitas kebangkrutan karena akan mengurangi e, y sampai dengan nol, dengan kesimpulan bahwa kebangkrutan akan terjadi apabila probabilitas yang dihasilkan mendekati 1/1 atau 100%. di samping itu, variabel y dengan nilai positif menurunkan propabilitas kebangkrutan. dengan demikian, probabilitas kondisional nilai logit berada di antara 0 dan 1 (hosmer dan lemeshou, 1989 dalam puri respathi, 2003). ketiga, setelah didapatkan hasil dari metode logit di atas, maka data yang ada diuji lagi dengan statistik karena model logit tidak mempunyai titik cut off untuk mendapat tingkat kepastian yang tinggi. alat statistik yang digunakan adalah sebagai berikut: standar deviasi (untuk n tsv 1 ≤ 30), dengan rumus: ( ) 1 2 − −∑ = n xx sd i di mana: x 1 = data ke 1 x = rata-rata industri n = jumlah sampel berikutnya adalah rentang interval, dengan tingkat keyakinan 95% (α =0,05), dengan rumus: n sd tx n sd tx 22 αμα +<<− batas bawah rentang interval menentukan skor maksimal bagi penentuan suatu perusahaan dikatakan mempunyai kinerja keuangan yang buruk. sementara itu, batas atas rentang interval menentukan secara minimal bagi penentuan suatu perusahaan dikatakan mempunyai skor di antara kedua batas rentang interval masuk dalam kategori rawan atau kritis terhadap kesulitan yang mengarah pada kebangkrutan. setelah tahapan-tahapan kedua model di atas selesai dilakukan, kemudian diberikan pembahasan mengenai kondisi keuangan perusahaan yang diteliti sesuai dengan hasil dari masing-masing model. setelah itu, dilakukan pertandingan hasil antara kedua model tersebut, yaitu model altman dan zavgren. langkah terakhir adalah memberikan penjelasan jika terdapat perbedaan hasil yang menyimpang antara masing-masing model. pengujian hipotesis pengujian hipotesis yang dilakukan antara tahun 2001 sampai 2005 adalah sebagai berikut. pertama, uji t (paired sample test) tahun 2001. terlihat bahwa kolom exact. sig. (2-tailed) / significance untuk uji dua sisi adalah 0,653. di sini didapat probabilitas di atas 0,05 (0,653 > 0,05) maka h 0 di terima, atau sesungguhnya tidak ada perbedaan pada kondisi keuangan perusahaan food and beverages baik menggunakan model z-score (altman ) maupun zavgren (model logit). kedua, uji t (paired sample test) tahun 2002. terlihat bahwa kolom exact. sig. (2-tailed)/ significance untuk uji dua sisi adalah 0,444. di sini didapat probabilitas di atas 0,05 (0,444 > 0,05), maka h 0 diterima, atau sesungguhnya tidak ada perbedaan pada kondisi keuangan perusahaan food and beverages, baik menggunakan model z-score (altman) maupun zavgren (model logit). 22 journal the winners, vol. 11 no. 1, maret 2010: 12-25 ketiga, uji t (paired sample test) tahun 2003. terlihat bahwa kolom exact. sig. (2-tailed)/ significance untuk uji dua sisi adalah 0,369. di sini didapat probabilitas di atas 0,05 (0,369 > 0,05), maka h 0 diterima, atau sesungguhnya tidak ada perbedaan pada kondisi keuangan perusahaan food and beverages, baik menggunakan model z-score (altman) maupun zavgren (model logit). keempat, uji t (paired sample test) tahun 2004. terlihat bahwa kolom exact. sig. (2-tailed)/ significance untuk uji dua sisi adalah 0,348. di sini didapat probabilitas di atas 0,05 (0,348 > 0,05), maka h 0 diterima, atau sesungguhnya tidak ada perbedaan pada kondisi keuangan perusahaan food and beverages, baik menggunakan model z-score (altman) maupun zavgren (model logit). kelima, uji t (paired sample test) tahun 2005. terlihat bahwa kolom exact. sig. (2tailed)/significance untuk uji dua sisi adalah 0,799. di sini di dapat probabilitas di atas 0,05 (0,799 > 0,05), maka h 0 diterima, atau sesungguhnya tidak ada perbedaan pada kondisi keuangan perusahaan food and beverages, baik menggunakan model z-score (altman) maupun zavgren (model logit). simpulan model analisis yang ditemukan oleh edward 1 altman (z-score) merupakan kombinasi dari berbagai rasio keuangan, yaitu rasio modal kerja/total aktiva, rasio laba ditahan/total aktiva, rasio ebit/total aktiva, rasio nilai pasar modal sendir/nilai buku hutang, dan rasio penjualan/total aktiva. dalam model analisis diskriminan ini, terdapat titik cut-off yang mengkategorikan perusahaan dalam 3 kategori, yaitu sehat, kritis, dan potensial bangkrut. model analisis logit yang ditemukan oleh chistine v zavgren menggunakan 7 rasio komponen yang dikombinasikan. rasio-rasio tersebut adalah 1) inv: persediaan / penjualan, 2) rec: piutang / persediaan, 3) cash: kas / total aktiva, 4) quick: aktiva lancar / hutang lancar, 5) roi: laba operasi bersih / (total aktiva-hutang lancar), 6) deb: hutang jangka panjang / (total aktiva–hutang lancar), dan 7) turn: penjualan / (modal kerja+aktiva tetap). dalam model analisis logit ini, tidak terdapat titik cut-off. analisis ini hanya memberikan suatu probabilitas akan 2 kondisi perusahaan, dalam hal bangkrut atau tidak. untuk mendapatkan hasil yang lebih akurat, nilai y dianalisis lanjut lebih akurat sehingga kategori yang dihasilkan sesuai dengan kategori menurut model altman, yaitu sehat, kritis, dan bangkrut. dalam hal ini, peneliti menggunakan perhitungan titik cut-off dengan mencari batas atas dan batas bawah rentang interval (dengan tingkat keyakinan 95%) pada perusahaan yang diteliti. hasil penerapan model altman dan zavgren pada keduapuluh perusahaan food and beverages yang terdaftar di bej selama periode 2001-2005, dapat dikelompokkan sebagai berikut. penerapan model altman kategori jumlah perusahaan 2001 2002 2003 2004 2005 sehat 4 6 6 11 9 kritis 6 6 3 1 3 potensial bangkrut 9 7 10 6 7 kebangkrutan perusahaan .....(yeni agustina; rahmawati) 23 penerapan model zavgren kategori jumlah perusahaan 2001 2002 2003 2004 2005 sehat 9 6 7 5 3 kritis 6 4 1 5 4 potensial bangkrut 4 9 11 9 12 dari perbandingan hasil antara model altman dan zavgren, terdapat beberapa perusahaan yang berbeda hasil. hal ini dipengaruhi oleh perbedaan karakteristik dari model-model itu sendiri, di mana penggunaan rasio seperti inilah yang akhirnya dapat menyebabkan perbedaan pengkategorian kondisi keuangan perusahaan. kedua metode ini sama-sama merupakan cara untuk mengingatkan akan masalah keuangan yang mungkin membutuhkan perhatian serius dan memberikan petunjukpetunjuk yang berguna untuk menghindari kesulitan keuangan perusahaan di masa depan. penggunaan metode tergantung dari persepsi perusahaan dalam menafsirkan kondisi keuangannya dengan lebih condong melihat ke rasio yang ditentukan. analisis kebankrutan dengan menggunakan model altman (z-score) dengan model logit (zavgren) dari periode 2001-2005, untuk sampel penelitian adalah tidak terbukti dikarenakan kedua metode tidak berbeda. keterbatasan penelitian ini adalah sebagai berikut. kedua model yang digunakan dalam penelitian ini mengandung keterbatasan. pertama, model altman (z-score). model yang ditemukan oleh altman dibentuk di amerika serikat, yang tentunya nilai-nilai koefisien dalam model altman juga dibentuk berdasarkan karakteristik perekonomian. amerika serikat seperti kita ketahui bahwa kondisi atau karakter perekonomiannya berbeda dengan indonesia, misalnya sistem perpajakan amerika serikat berbeda dengna indonesia. perbedaan tersebut bisa menyebabkan berkurangnya tingkat akurasi model altman untuk memprediksi kegagalan keuangan atau kebangkrutan perusahaan jika ditetapkan di indonesia. z-score yang digunakan mengacu pada altman yang lebih ditujukan pada sektor perbankan. pada model altman, dapat kita ketahui bahwa tidak ada penegasan/pemisahan antara satu kelompok industri dengan kelompok industri lainnya. hal ini dapat menimbulkan anggapan bahwa metode altman seakan-akan memberikan perlakuan yang sama terhadap semua kelompok industri. padahal harus diingat bahwa antara satu kelompok industri dengan kelompok industri lainnya mempunyai karakteristik yang berbeda. kedua, model zavgren (logit). dalam model ini, pengkategorian kondisi keuangan perusahaan didasarkan pada nilai probabilitas, yaitu antara 0 dan 1, di mana nilai probabilitas perusahaan yang mendekati 1 atau 100% berarti bahwa perusahaan mengalami kesulitan keuangan. kelemahan dari model ini adalah tidak mengklasifikasikan kondisi keuangan perusahaan menjadi 3 kategori, yaitu sehat, kritis, dan potensial bangkrut/tidak sehat. hal tersebut akan dengan jelas kategori kondisi keuangan perusahaan tersebut. oleh karena itu, penulis menggunakan rentang interval untuk mencari titik cut-off. dalam perhitungan rentang interval, perusahaan yang di masa datang dalam perhitungan hanya perusahaan food and baverages yang terdaftar di bej. hasil perhitungan rentang interval akan lebih akurat apabila perusahaan food and baverages yang tidak terdaftar di bej juga ikut dimasukkan dalam perhitungan kedua. keterbatasan penelitian berikutnya adalah model analisis dalam penelitian ini hanya digunakan untuk mengidentifikasikan atau menentukan posisi keuangan perusahaan sehingga ketepatan atau keakuratan kedua model analisis tidak tampak dalam penelitian ini. sebagaimana diketahui, konsep kedua model analisis menekankan kepada bagaimana sebuah perusahaan dapat diprediksikan akan mengalami kebangkrutan. selanjutnya, model analisis yang digunakan dalam 2 model, yaitu model altman dan zavgren. analisis akan lebih baik jika model-model lain juga ikut 24 journal the winners, vol. 11 no. 1, maret 2010: 12-25 digunakan. walaupun demikian, kedua model yang digunakan dalam penelitian ini tetap merupakan alat yang dapat dipakai, sebagaimana pedoman dalam mebantu mengevalusi kondisi keuangan perusahaan. berdasarkan kesimpulan dan keterbatasan di atas, maka diajukan saran-saran yang diharapkan menjadi bahan pertimbangan, yaitu sebagai berikut. dengan mengacu pada aplikasi kedua model yang digunakan, maka bagi pihak-pihak yang berkepentingan dalam kaitannya dengan penilaian. kondisi perusahaan seperti investor/perusahaan itu sendiri, maka hendaknya tetap mengkombinasikan penggunaan model penilaian-penilaian yang ada dan juga disarankan untuk menganalisis lebih jauh terhadap laporan keuangan perusahaan secara menyeluruh karakteristik yang berbeda pada rasio-rasio pembentuknya. agar perusahaan mampu beroperasi/beraktivitas secara lancar, hal ini juga melihat pada kondisi keuangan perusahaan food and beverages. pada umumnya, perlunya suatu tambahan modal kerja yang akan berpengaruh terhadap kesehatan perusahaan. perusahaan bisa melakukan berbagai alternatif penambahan modal baru, misalnya melempar saham baru ataupun investasi lainnya pada surat berharga seperti obligasi atau lainnya, misalnya (1) adanya bahan baku impor yang harus seperti obligasi atau keuangnya perusahaan food and baverage, maka harus bisa menghasilkan produk bahan baku yang memiliki kualitas sama dengan bahan baku impor sebagian industri makanan akan membawa hasil dengan terpenuhinya bahan baku dalam negeri ataupun harus mengimpor yang tentu saja akan memakan biaya yang besar; (2) pemerintah juga harus turun tangan dalam memproteksi industri dalam negeri, khususnya industri makanan. dengan memproteksi industri dalam berindustri ini seperti melakukan kebijakan kenaikan bea impor sehingga hal ini biasa mengoptimalkan proses industri aplikasi dalam negeri; (3) bagi peneliti selanjutnya dapat mengkombinasikan model altman atau zavgren dengan model-model analisis lainnya untuk mengevaluasi kondisi keuangan perusahaan yang diteliti. dengan semakin banyaknya model analisis yang digunakan, maka kesimpulan mengenai kondisi keuangan perusahaan akan lebih akurat. daftar pustaka agustiono dan puspitosari, d.i. 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(1983). the prediction of corporate failure. the state of the art, journal of accounting literature 2, p. 1-37. kebangkrutan perusahaan .....(yeni agustina; rahmawati) 25 anonym. (july, 2000). predicting financial distress of companies: revisiting the z-score and zeta models. journal of banking and finance. beaver, w. (january, 1967). financial ratios as predictors of failures," in empirical research in accounting, selected studies. journal of accounting research. deakin, e.b. (1994). a discriminant analysis of predictors of business failure. journal of accounting research. fisher, l. (june, 1959). determinants of risk premiums on corporate bonds. journal of political economy. gibson, b.n. (1998). bankruptcy prediction: the hidden impact of derivatives. journal of banking and finance, vol. 6. hananto. (1984). analisis laporan keuangan, edisi 1, yogyakarta: bpfe. harahap, s.s. (2001). teori akuntansi edisi revisi, jakarta: pt raja grafindo persada. hendricks, d. (april, 1996). evaluation of value-at-risk models using historical data. economic policy review, new york: frbny. jensen, r. (april 1998). legal settlement exit value amortization rate accounting for custom interest rate swaps having no market trading. retrieved from www.trinity.edu/~rjensen/231wp/231wp.html. lo, a.w. (march, 1986). logit versus discriminant analysis: a specification test and application to corporate bankruptcies. journal of econometrics 31, p. 151-179. mastuti, s., dan supardi. (2003). validitas penggunaan z-score altman untuk menilai kebangkrutan pada perusahaan perbankan go publik di bursa efek jakarta. kompak, no.7, januari-april, 6893. setyorini dan halim, a. (2002). studi potensi kebangkrutan perusahaan publik di bursa efek jakarta tahun 1996-1998. kompak, no.5, mei, 221-239. stickney, c.p. (1996). financial reporting and statement analysis, 3rd ed., ft. worth, tx: the dryden press. sularso, s. (2003). buku pelengkap penelitian akuntansi: sebuah pendekatan replikasi, yogyakarta: bpfe. supardi dan mastuti, s. (2003). validitas penggunaan z-score altman untuk menilai kebangkrutan pada perusahaan perbankan go publik di bursa efek jakarta. kompak, no.1, januari-april, 68-69. wilopo. (2001). prediksi kebangkrutan bank. jurnal riset akuntansi indonesia, 4(2), mei, p.181-198. zavgren, c.v. (1985). assessing the vulnerability to failure of american industrial firms: a logistic analysis. journal of business finance and accounting, 12, p.19-46. zmijewski, m.e. (1984). methodological issues related to the estimation of financial distress prediction models. journal of accounting research, 22, p.59-82. *corresponding author p-issn: 1412-1212 e-issn: 2541-2388 89 the winners, 22(1), march 2021, 89-95 doi: 10.21512/tw.v22i1.7013 the increase of rural economy at baraka sub-district through village funds abdul karim1*; chalid imran musa2; romansyah sahabuddin3; muhammad azis4 1doctoral student in economic program, universitas negeri makassar jl. ap. pettarani makassar, sulawesi selatan, 90221, indonesia 1department of accounting, stie amkop makassar jl. jl. meranti no.1, pandang, kota makassar, sulawesi selatan 90231, indonesia 2,3,4department of graduate program universitas negeri makassar jl. ap. pettarani makassar, sulawesi selatan, 90221, indonesia 1abdul_karim@stieamkop.ac.id; 2imranmusa1962@gmail.com; 3krtenreng@yahoo.com; 4mazis@unm.ac.id received: 29th january 2021/ revised: 14th march 2021/ accepted: 17th march 2021 how to cite: karim, a., musa, c. i., sahabuddin, r., & azis, m. (2021). the increase of rural economy at baraka sub-district through village funds. the winners, 22(1), 89-95. https://doi.org/10.21512/tw.v22i1.7013 abstract the research aimed to examine the allocation of village funds during the covid-19 global crisis pandemic as well as its benefits to baraka sub-district in enrekang regency, south sulawesi province. it has an area of 159,15 km2 or 8,91% of the accumulated total area of enrekang regency. the research applied was qualitative method with a descriptive analysis approach. it was carried out by collecting data and information from the population taken from 12 villages in the baraka sub-district. the results show that bumdes (village-owned enterprises) fosters rural economic development for all village communities in baraka sub-district and supports national economic growth. in addition, village funds is considered to become a support for meeting the economic needs of the community during the covid-19 pandemic. it is expected that various economic recovery programs will continue, whether they become central, regional, or local village-scale programs, especially in 12 villages in baraka subdistrict. keywords: rural economic, village funds, bumdes i. introduction baraka sub-district is an enrekang regency that has a wide variety of potentials capable of increasing economic growth. one of the potentials in the baraka sub-district is pulu' mandoti endemic rice, which is the only endemic rice in indonesia. the economic potential can be produced by local farmers, in salukanan village, which reaches 70 thousand tons every year. the potential for economic growth from the endemic rice sector in pulu' mandoti is considered quite good because the market price of this rice reaches rp 50.000 per kilogram. the strategy of institutionalizing rural community economic enterprises in baraka subdistrict is seen as important in improving the economy (taufiqurokhman & andriansyah. 2018). the perspective of building the economic sovereignty of rural communities aims to strengthen the competitiveness and bargaining power of the economic objects of the community (karim, 2020c), especially during the current global pandemic (karim, 2020b). this institutionalization has also become a basic need that is structured and targeted when the national economic situation is experiencing inflation, due to covid-19 (karim, 2020e). referring to the principles, values, and opportunities (fitriyani et al. 2018) for institutionalized economic development in rural areas, the strategic choice that can be developed by rural communities is badan usaha milik desa/bumdes (village-owned enterprises) (karim et al., 2020). this business is suitable to be applied in rural areas in all villages in the baraka sub-district area for the several reasons (riskasari & tahir, 2019), namely: 1) the business has a clear and firm constitutional and legal foundation (nasution, erlina, & rujiman, 2018); 2) this is clearly stated in government policies at the national, regional, and village levels (amri, 2019); 3) this position allows the government to strengthen the position of the (husin, 2017) two forms of business institutions through its programs, both short-medium and longterm; 4) this institutional form requires explicitly 90 the winners, vol. 22 no. 1 march 2021, 89-95 the involvement of citizens as active actors in it (adhayanto et al., 2019). based on aspects that are strongly influenced by the contextual situation (social, political, economic, and geographical) in baraka sub-district, the choice of community business institutional forms is of course very contextual to get budget allocations sourced from the village fund (asni, maryunani, & budi, 2013; karim, 2020e). the benefits generated from the use of village funds are used to finance (syahruddin & karim, 2020b). the development and empowerment of rural communities in order to live prosperously (lubis & muda, 2018). the main objectives of the village funds are: 1) poverty alleviation in the village (hehamahua, 2015), 2) the process of equitable development, 3) restraining the rate of urbanization for rural communities (hambali & niode, 2019), and 4) the priority for rural sector development originating from village funds (rimawan et al., 2020). for example, if bumdes is engaged in strengthening commodity production, it can also strengthen its downstream sector by diversifying or downstream products (warsono & ruksamin, 2014). increasing the economy in rural areas in baraka subdistrict in the aspects of production, productivity, and income for rural communities will certainly have a positive impact on the baraka sub-district government (karim, 2020a, 2020d). village funds should be allocated as much as possible to bumdes institutions to drive the rural economy (sumantara et al., 2019). based on the indicative ceiling of transfer funds to the village government in baraka sub-district for the 2021 budget, the village funds is rp 11,78 billion (syahruddin & karim, 2020c). meanwhile, the village fund allocation from the enrekang regency government is rp 5,52 billion. with this village funds, the community can use it according to their needs to increase their productivity and improve the quality of life in the village (yusuf et al. 2019). the realization of village funds supports economic activities in order to keep moving in the community despite the global pandemic (syukur & karim, 2020). ii. methods the research applies a qualitative methods with a descriptive analysis approach. qualitative research intends to understand the phenomena experienced (syahruddin & karim, 2019a) by research subjects. the research aims to examine the allocation of village funds and the benefits to village communities in baraka sub-district. a research location is a place where researchers can see the actual condition of the object to be studied in order to obtain accurate data. the research method is carried out by collecting data and information from the population taken from 12 villages in the baraka sub-district. the data are classified to provide a conclusion from actual events about the benefits of allocating village funds in economic improvement for village communities. iii. results and discussions building from the village is one of the government's commitments to bring just economic equality, which causes the amount of village funds continue to increase every year, including for those in recognition of the rights of indigenous people. to achieve economic equality, the distribution of village funds must be followed by strengthening village institutions, as well as openness in budget management which needs to be developed for improvement. this can be seen from the large ceiling for allocating village funds to 12 villages in baraka subdistrict for the last six years, whose source comes from the state revenue and expenditure budget. table 1 shows the amount of village fund allocation for all villages in the baraka sub-district sourced from the state revenue and expenditure budget. rp 3,36 billion is allocated in 2015, rp 7,46 billion in 2016, and rp 9,55 billion in 2017. meanwhile, during the last three years, the budget allocation has continued to increase, namely rp 10,33 billion in 2018, rp 12,69 billion 2019, and rp 11,98 billion in 2020. this proves the governments’ commitment in improving the welfare of rural communities based on the village sector. the village law mandates that the goal of village development is to improve the welfare of rural communities and the quality of human life as well as alleviate poverty through meeting basic needs such as building village facilities and infrastructure, developing local economic potential, and utilizing natural resources and the environment in a sustainable manner. being sustainable is for the village development to meet current needs without sacrificing the needs of future generations of villages. the use of village funds is prioritized to finance the implementation of cross-sectoral programs and activities in the village development and empowerment of village communities and to provide maximum benefits to the village community in the form of improving the quality of life. moreover, it is to increase welfare and reduce poverty, as well as to improve public services at the village level. from 2015 to 2020, village funds in baraka subdistrict has focused on infrastructure development and provision of facilities (physical) as well as improving the quality of human resources (non-physical) in 12 villages in baraka sub-district. based on table 2, the realization of the village fund budget is used in the 12 villages in baraka subdistrict. from 2015 to 2020, the allocation of village funds in all villages of baraka sub-district remains more dominant in the physical development sector the infrastructure sector, and the provision of facilities than improving the quality of human resources. in the last six years, the allocation of the state revenue and expenditure budget in the baraka sub91the increase of rural economy.... (abdul karim, et al) district was rp 55,29 billion. the infrastructure sector and the provision of facilities have rp 50,98 billion. meanwhile, for the improvement of the quality of human resources, the allocation is quite minimal as it only reaches rp 4,31 billion. the allocation of village funds must improve the life quality of rural communities that can contribute to improving welfare and poverty alleviation for village communities. in addition, village funds should be increasing human resources through labor-intensive activity programs that deal with unemployment problems in villages by creating new jobs. the village income and expenditure budget are the responsibility of the village management holder to provide information about all village activities and implement program plans. the amount of budget allocation which allocated directly to the village is determined 10% of and outside the regional transfer (on top) fund in stages. budget from the state revenue and expenditure budget is calculated based on the number of villages and allocated according to the population, poverty rate, area size, and geographic difficulty level to improve welfare and equitable village development. table 1 the budget ceiling for the village fund for the last 6 years in baraka sub-district village name total budget ceiling 2015 year (idr) 2016 year (idr) 2017 year (idr) 2018 year (idr) 2019 year (idr) 2020 year (idr) banti 273.465.000 615.046.000 803.978.000 755.398.000 876.852.000 888.345,000 bone-bone 275.999.000 619.094.000 781.419.000 958.495.000 1.155.745.000 1.153.471.000 bontongan 290.764.000 648.276.000 826.526.000 791.439.000 932.800.000 950.638.000 janggurara 275.271.000 616.919.000 780.346.000 777.840.000 1.121.229.000 935.298.000 kadingeh 289.468.000 646.737.000 809.192.000 981.500.000 1.189.892.000 1.218.722.000 kendenan 272.987.000 613.183.000 823.211.000 970.217.000 1.171.683.000 1.012.207.000 pandung batu 273.621.000 615.685.000 794.166.000 769.082.000 1.113.242.000 951.524.000 parinding 277.661.000 621.320.000 812.731.000 934.489.000 1.118.760.000 1.063.723.000 pepandungan 287.328.000 633.200.000 774.892,000 988.173.000 1.200.020.000 1.027.691.000 perangian 274.712.000 614.932.000 779.202.000 927.244.000 1.109.491.000 1.065.001.000 salukanan 273.052.000 609.291.000 790.045.000 755.477.000 876.785.000 911.186.000 tirowali 272.328.000 609.250.000 784.087.000 720.824.000 828.162.000 810.627.000 total 3.336.662.000 7.462.933.000 9.559.795.000 10.330.178.000 12.694.661.000 11.988.433.000 source: ministry of village of the republic of indonesia, 2021 (processed) table 2 the use of village funds in baraka sub-district in all villages from 2015-2020 village name use of village funds in 2015 2020 total budget (idr)physical development (idr) nonphysical development (idr) banti 3.793.185.000 419.909.000 4.213.094.000 bone-bone 4.471.483.450 472.737.550 4.944.221.000 bontongan 4.073.849.000 366.594.000 4.440.443.000 janggurara 4.085.486.000 421.414.000 4.506.900.000 kadingeh 4.355.125.500 780.385.500 5.135.511.000 kendenan 4.559.904.000 303.584.000 4.863.488.000 pandung batu 4.261.003.000 224.808.000 4.485.811.000 parinding 4.492.065.000 286.619.000 4.778.684.000 pepandungan 4.542.958.000 368.343,000 4.911.301.000 perangian 4.700.449.000 70.133.000 4.770.582.000 salukanan 3.940.579.000 275.257.000 4.215.836.000 tirowali 3.704.791.000 320.487.000 4.025.278.000 source: processed data, 2021 92 the winners, vol. 22 no. 1 march 2021, 89-95 table 3 shows the village income and expenditure budget in 12 villages of baraka subdistrict for the last 4 years. the income of rp 64,39 billion is still predominantly sourced from state revenue and expenditure budget transfers, which is followed by the regional revenue and expenditure budget of enrekang regency. meanwhile, the village's original income, local tax results, and others are relatively minimal. the village income and expenditure in baraka sub-district comes from village original income, namely from business results, assets, selfhelp, participation and mutual assistance, and other legitimate village income. village income also comes from transfers, namely village funds, part of regency regional tax results and regional retribution, village fund allocation, financial assistance from enrekang regency regional revenue and expenditure budget financial. one of the instruments undertaken by the government to improve the economy in each village is the allocation of village funds which originate 100% of the state revenue and expenditure budget. with the provision of village funds, it is expected that the village will be more empowered. in addition, optimism and self-confidence will become a source of villagebased national economic growth. with village fund, two problems, at least, must be resolved in all villages of baraka sub-district. firstly, the solution is opening up new job vacancies since village fund is a work nature, especially in overcoming unemployment during the covid-19 global crisis pandemic. the village government involves all components of the community and opens up access to new jobs for those affected by the termination of employment. secondly, with the existence of village development, there will be significant economic movement to meet the needs of urban communities and increase the income of each head of a household in the village. the challenge is that almost every village in baraka sub-district in the last three years has received rp 1 billion in funds (karim et al., 2020). the figures vary, but the difference occurs to be quite insignificant with certain considerations from each village. the goal of village fund is to provide social justice for all indonesian people, especially in baraka sub-district. first, a large number of funds cannot have a significant impact on rural areas-based countries since the funds are intended for village development. the economic improvement in the village may not be quite significant on a national scale but it can grow the rural economy. second, the problem with village funds lies in their irregularities. besides, improper use will be a serious problem. village funds must be used for the benefit of the village instead of for just a moment's sake as seen in the realization of village fund budget allocations in 12 villages of baraka sub-district. in the dominant sector, the realization of village funds remains prioritizing the infrastructure sector and the provision of facilities to rp 50,98 billion. the sector for improving the quality of human resources is considered minimal with only rp 4,31 billion from 2015-2020. it occurs different with the budget realization in baraka since the village government still prioritizes physical development. the large funds for the village and the trust from central government in the village will immediately cause various problems. village governments must think more objectively in formulating work programs to achieve table 3 village income and expenditure budget for 2017-2020 village name total village income and expenditure budget income (idr) expenditure (idr) financing (idr) banti 5.120.267.207 5.069.548.902 83.281.049 bone-bone 4.551.119.140 5,041.390.533 226.767.701 bontongan 5.258.406.583 5.311.774.372 53.367.789 janggurara 5.357.446.473 5.423.032.789 420.642.746 kadingeh 6.542.657.438 6.386.578.136 267.483.498 kendenan 5.759.481.094 5.696.905.089 137.423.995 pandung batu 5.372.073.558 5.421.364.959 350.250.888 parinding 5.688.370.396 5.740.793.595 50.943.199 pepandungan 5.772.623.948 5.684.581.135 277.655.187 perangian 5.590.763.911 5.626.459.296 38.529.857 salukanan 4.523.133.062 4.523.182.707 160.049.645 tirowali 4.862.003.109 4.837.133.668 160.304.559 total 64.398.345.919 64.762.745.181 2.226.700.113 source: processed data, 2021 93the increase of rural economy.... (abdul karim, et al) significant economic improvements for their villages, especially when indonesia is having an economic recession due to covid-19. on the other hand, there have been many cases of village funds misuse that have dragged the village headman to prison. public oversight is considered weak and inversely proportional to the level of compliance with the use of funds according to government regulations. weak supervision will lead to a higher possibility of village officials misusing village funds, thus supervision should be improved. there must be special handling in using village funds, so village officials will not be caught in problems. the global crisis pandemic has had a significant impact on the rate of economic growth for a country. the indonesian government through the ministry of finance has officially announced that the gross regional domestic product in all provinces in indonesia is experiencing a deficit since november 2020, which certainly impacts the pace of the economy. bumdes is village economic institutions that have legitimacy from the state. it is very closely related to the community since this business entity is a service provider that involves all village communities in the process of planning, implementing, and evaluating activities to develop the economy in the village. the ministry of villages of the republic of indonesia classifies the status of villages in indonesia into the category of developing villages’ index into five groups, namely: 1) highly ranked villages, 2) underdeveloped villages, 3) developing villages, 4) developed villages, and 5) independent villages. the status of village development index in 12 villages of baraka district and the existence of village economic institutions can be seen in table 4. table 4 shows that all 12 villages are still in developing villages. of all the existing superior village products, it shows that products in baraka are mainly based in the agricultural sector. the allocation of village funds in 12 villages of baraka is rp 30,68 billion from 2015-2020. the utilization of village economic institutions in improving the village economy is still running optimally, as stated in the village income and expenditure budget. all villages still rely on two main incomes. first, village funds sourced from the state revenue and expenditure budget. meanwhile, the secondlargest village income and expenditure budget comes from the allocation of village funds from the regional income and expenditure budget of enrekang regency. the village potentials in baraka can be managed properly and will increase the village's original income if bumdes is utilized. the role of the currently existing village government remains prioritizing infrastructure development and provision of facilities in the realization of village fund expenditures and the allocation of village funds. more specifically, bumdes is one of the village institutions engaged in the socio-economic field. bumdes functions as a service provider, especially to village communities, where the main focus is on the business sector in the village. it is necessary to increase the socio-economic activities of rural communities in supporting urban economic movements. central government programs through increasing the national economy can be realized by optimizing the role of bumdes. the existence of bumdes in rural economic development for all village communities in baraka supports national economic growth. the economy of the village community in the district should improve to be better than the village's original income from 20152020. there should have been a significant economic increase due to the village funds from the central government and the allocation of village funds from the enrekang regency government. table 4 the status of developing village index in baraka sub-district village name village status village economic institutions village superior product banti developing bumdes horticulture bone-bone developing bumdes rice bontongan developing bumdes rice janggurara developing bumdes horticulture kadingeh developing bumdes clove kendenan developing bumdes rice pandung batu developing bumdes rice parinding developing bumdes horticulture pepandungan developing bumdes rice perangian developing bumdes horticulture salukanan developing bumdes rice tirowali developing bumdes rice source: processed data, 2021 94 the winners, vol. 22 no. 1 march 2021, 89-95 iv. conclusions restoration of village social and economic conditions certainly needs to be a focus, which is in line with the national economic recovery agenda. in addition, it is also important to adapt new habits to conditions that have changed drastically due to covid-19 pandemic. the joint effort to revive itself will certainly not only be the work of the central or regional governments but all levels of society, including rural communities. thus, it is essential that the various programs which will run in 2021 restore economic conditions. the impact of the global crisis pandemic is devastating for social and economic life, especially for villages that drive the economy through village tourism activities. the covid-19 pandemic tremendously hits not only tourism as the main destination of the region, but also tourist villages. various economic recovery programs are expected to continue, whether they become central, regional, or local village-scale programs, especially in 12 villages of baraka. especially for local villages, village communities will be greatly helped through various programs from village funds. village funds are one of the hopes that economic recovery can take place quickly on target. during the pandemic, village funds are considered to have become a support in improving the economic needs of the community. references adhayanto, o., arianto, b., winatawira, w., suryadi, s., & nurhasanah, n. (2019). the evaluation of the utilization of the 2018 village funds in bintan district and lingga district. jurnal bina praja: journal of home affairs governance, 11(2), 125-136. https:// doi.org/10.21787/jbp.11.2019.125-136 amri, k. (2019). bumdes acceleration towards mandiri village. iapa proceedings conference, 268-281. https://doi.org/10.30589/proceedings.2019.236 asni, f., maryunani, s., & budi, d. (2013). the management of the village funds allocation as an instrument towards economic independence village (case studies in 2 villages in siak regency, province riau). journal of business and management, 10(4), 1-9. https://citeseerx.ist.psu.edu/viewdoc/downl oad? doi=10.1.1.1041. 1580&rep=rep1& typ e=pdf fitriyani, l. y., marita, m., windyastuti, w., & nurahman, r. w. (2018). determinants of village fund allocation. jurnal akuntansi multiparadigma, 9(3), 526-539. http://dx.doi.org/10.18202/jamal.2018.04.9031 hambali, i. r. & niode, i. y. (2019). improvement of village productive economy through village funds financing. international journal of applied business and international management, 4(3), 104-112. https://doi.org/10.32535/ijabim.v4i3.688 hehamahua, h. (2015). impact analysis of the village fund allocation (add) toward economic community (case study on the rural district of namlea siahoni), buru regency. journal of social and development sciences, 6(3), 15-23. https://doi.org/10.22610/jsds. v6i3.847 husin, d. (2017). flexibility of budget accountability using flow modification in the design of village financial accounting. asia pacific fraud journal, 1(1), 19-35. http://dx.doi.org/10.21532/apfjournal.v1i1.2 karim, a. (2020a). the role of bumdes as supporting regional economy in enrekang regency based on local wisdom. https://www.academia.edu/43785786/ the_role_of_bumdes_as_supporting_regional_ economy_in_enrekang_regency_based_on_ local_wisdom karim, a. (2020b). bumdes as a solution for food stock preparation and national economic buffer in the “covid-19” global pandemic period. https://www. academia.edu/43739231/bumdes_as_a_solution_ for_food_stock_preparation_and_national_ economic_buffer_in_the_covid_19_global_ pandemic_period karim, a. (2020c). indonesia’s economic revival behind the lockdown of 59 countries. international journal of scientific & engineering research, 11(9), 1385 – 1388. https://www.ijser.org/researchpaper/ i n d o n e s i a s e c o n o m i c r e v i v a l b e h i n d t h e lockdwon-of-59-countries.pdf karim, a. (2020d). endemic rice pulu' mandoti supports the economy and food security at salukanan community during covid-19 global pandemic crisis. international journal of innovative science and research technology, 5(9), 793-796. https://ijisrt. com/assets/upload/files/ijisrt20sep485.pdf karim, a. (2020e). the agricultural sector is a pillar of economic growth during the covid-19 pandemic after the ratification of the omnibus law job creation in indonesia. https://www.academia.edu/44276897 karim, a., musa, c. i., & romansyah sahabuddin, m. a. (2020). regional economic growth the role of bumdes institutions in enrekang regency. international journal of creative research thoughts, 8(11), 225-229. https://doi.org/10.6084/ m9.doi.one.ijcrt2011027 lubis, a. & muda, i. (2018). analysis of ownership and stock composition of vocational business enterprises (bumdes) and its impact on “omset” of business owned enterprises. 1st economics and business international conference 2017 (ebic 2017). atlantis press. https://doi.org/10.2991/ebic17.2018.43 nasution, f. a., erlina, & rujiman. (2018). the role of village funds to the development area in the subdistrict of west bilah, labuhanbatu regency, north sumatera, indonesia. international journal of progressive sciences and technologies, 6(1), 221227. http://dx.doi.org/10.52155/ijpsat.v6.1.224 riskasari, r. & tahir, n. (2019). collaboration of development actors in realizing mandiri villages in bongki lengkese village, east sinjai district, sinjai district. jurnal ilmiah ilmu administrasi publik, 8(2), 121-126. https://doi.org/10.26858/jiap. v8i2.7880 95the increase of rural economy.... (abdul karim, et al) rimawan, m., alwi, a., ismunandar, i., & aryani, f. (2020). village fund allocation on economic growth, human development index and poverty. proceedings of the 1st annual conference on education and social sciences (access 2019), 338-342. atlantis press. https://www.atlantis-press.com/article/125943813. pdf sumantara, k., suryani, k., widnyana, i. w., menes, c. c., sutrisna, i. b. p., oktariana, & dana, r. s. (2019). swot analysis of village owned enterprises (bumdes) trading business of “ayu bagia” goods in baha village-kecamatan mengwi badung district-bali. international journal of sustainability, education, and global creative economic (ijsegce), 2(1), 15-20. https://journals.segce.com/index.php/ ijsegce/article/view/51 syahruddin & karim, a. (2019a). the effect of “axis hits bonus” version tagline advertising and ambassador brand against axis cards awareness. proceedings of the first international conference on materials engineering and management-management section (icmemm 2018). atlantis press. https://doi. org/10.2991/icmemm-18.2019.13 syahruddin & karim, a. (2020b). the role of cooperatives in economic growth in makassar city during the covid-19 pandemic. international journal of innovative science and research technology, 5(10), 334-337. https://www.researchgate. n e t / p u b l i c a t i o n / 3 4 4 8 0 3 9 1 6 _ t h e _ r o l e _ o f _ cooperatives_in_economic_growth_in_makassar_ city_during_the_covid-19_pandemic syahruddin & karim, a. (2020c). the agricultural sector sustains the economy of enrekang regency during pandemic covid-19. international research journal of advanced engineering and science, 5(4), 161-165. https://www.researchgate.net/ publication/345898688_the_agricultural_sector_ sustains_the_economy_of_enrekang_regency_ during_pandemic_covid-19 syukur, a. & karim, a. (2020). unemployment rate in south sulawesi since the global crisis pandemic. international journal of innovative science and research technology, 5(12), 259-2637. https://bit. ly/3ajzcxq taufiqurokhman, t. & andriansyah, a. (2018). implementation of allocation of village funds (add) increases institutional and ngombakan village development programs manifest good governance. matra pembaruan: jurnal inovasi kebijakan, 2(3), 197-206. https://doi.org/10.21787/mp.2.3.2018.197206 yusuf, s., umanailo, m. c. b., putri, r. n., qhuril, d., ely, m., & darma, d. (2019). village institution relations in the utilization of village funds in namlea district. international. journal of scientific & technology research, 8(8), 1837-1842. https://www.ijstr.org/ final-print/aug2019/-village-institution-relationsin-the-utilization-of-village-funds-in-namleadistrict.pdf warsono, h. & ruksamin, d. (2014). the obstacles of implementation of village allocation fund program in the north konawe southeast sulawesi. journal of management and sustainability, 4(3), 175-183. https://doi.org/10.5539/jms.v4n3p175 microsoft word 07_s. liawatimena_analisis strategi pemasaran.doc analisis strategi pemasaran… (s. liawatimena; dkk) 149 analisis strategi pemasaran terhadap tingkat kepuasan pelanggan ojolali.com s. liawatimena1; johan2; selamat3 abstract the purposes of this research is to measure the customer demand in relation to the services of ojolali.com. therefore, it can be considered services that always met the customers demands. in this research, analysis to know the position of the ojolali.com company and suitable strategy to conduct are also done. the results of this research gives a complete description on customer characteristic, buyer behaviour, the percentage of customer demand which is appropriate to level on ojolali.com working performance, and the position of ojolali.com on swot matrix, and the suitable strategy, that is using opportunity to minimize the weakness. keywords: marketing strategy, customer satisfaction, swot analysis abstrak penelitian bertujuan mengukur tingkat kesesuaian harapan pelanggan dengan layanan yang diberikan ojolali.com sehingga dapat diketahui layanan yang sudah memenuhi harapan pelanggan dan layanan yang belum memuaskan pelanggan. dalam penelitian ini juga dilakukan analisis untuk mengetahui letak perusahaan ojolali.com dan strategi yang dianggap cocok pada posisi tersebut. hasil yang diperoleh dari penelitian ini adalah penjabaran lengkap mengenai karakteristik pelanggan, perilaku pembeliannya, persentase tingkat kesesuaian harapan pelanggan terhadap kinerja ojolali.com (79,82%), dan juga dapat diketahui posisi ojolali.com pada matriks swot (wo), dan strategi yang cocok untuk diterapkan, yaitu memanfaatkan peluang dengan meminimalkan kelemahan. kata kunci: strategi pemasaran, kepuasan pelanggan, analisi swot 1 staf pengajar fakultas ilmu komputer, ubinus, jakarta 2 dan 3 mahasiswa fakultas ilmu komputer, ubinus, jakarta journal the winners, vol. 5 no. 2, september 2004: 149-170 150 pendahuluan dunia internet yang mulai banyak diperbincangkan mulai dekade 90-an saat ini menjadi sebuah dimensi baru dalam kehidupan manusia. kehadiran internet dalam kehidupan sehari-hari telah mengubah sebagian besar kebiasaan orang dalam berkomunikasi dengan orang lain, mulai dari sekedar menyampaikan pesan, sampai aktifitas sehari-hari seperti membaca koran, berbelanja dan lain-lain. dengan dukungan teknologi komputer dan infrastruktur jaringan, banyak hal yang dapat dilakukan dengan internet misalnya saja berkembangnya transaksi elektronik yang disebut electronic commerce(e-commerce). hal itu yang banyak digemari oleh pelaku bisnis untuk melakukan bisnisnya dengan cara e-commere. dengan adanya cara baru dalam pemasaran online, otomatis mendorong perusahaan untuk mulai memanfaatkan peluang pemasaran tersebut. dalam melakukan e-commerce itu, perusahaan lokal akan dituntut untuk berpikir secara lokal tetapi bertindak secara global. dengan waktu akses berbelanja 24 jam sehari, tanpa terbatas ruang dan wilayah tertentu, mendorong perusahaan yang melakukan bisnis ecommerce agar tampil semaksimal mungkin untuk memuaskan para pelangannya. salah satu faktor yang disukai oleh perusahaan dalam melakukan bisnis online itu adalah tidak diperlukannya bangunan atau areal untuk memajang barang dagangan mereka karena bisnis online (e-commerce) itu hanya memerlukan sebuah situs yang biasanya dalam bisnis konvensional dapat diibaratkan seperti sebuah toko. di indonesia, sudah banyak sekali berdiri perusahaan atau organisasi yang melakukan transaksi secara elektronik seperti itu, salah satunya adalah ojolali.com. ojolali.com melakukan e-commerce dengan situsnya www.ojolali.com. situs itu menawarkan berbagai jenis produk, baik lokal maupun produk impor. untuk kemudahan mencari, ojolali.com membagi produk tersebut ke dalam beberapa kategori, contoh books, music, flowers, health, gifts, elektronik, dan lain lain. dalam dunia e-commerce, bukan hanya pembelian tunai saja yang ditawarkan. sama seperti dalam bisnis konvensional, bisnis e-commerce juga menawarkan pembayaran dengan cara kredit.. ojolali.com pun mencoba menerapkan hal tersebut, yaitu pembayaran dengan cara kredit untuk produk tertentu. dalam menjalankan usaha e-commerce, perusahaan ojolali.com merasa adanya ketidakseimbangan antara member yang mendaftar dengan jumlah member yang melakukan transaksi pembelian. oleh karena itu, ojolali.com ingin mengetahui sejauh mana tingkat kesesuaian antara kinerja yang diberikan perusahaan terhadap harapan para pelanggan. dengan mencari tahu sejauh mana tingkat kepuasan pelanggan yang menggunakan transaksi e-commerce, diharapkan dapat memberi masukan kepada analisis strategi pemasaran… (s. liawatimena; dkk) 151 perusahaan agar dapat melihat sejauh mana strategi pemasaran yang telah diterapkan dan bagaimana membuat strategi pemasaran yang lebih efektif untuk meningkatkan pendapatan perusahaan. untuk melakukan analisis terhadap strategi pemasaran dan tingkat kepuasan pelanggan, dalam penelitian ini dibatasi pada penerapan strategi pemasaran perusahaan dan pengukuran tingkat kepuasan pelanggan dengan perancangan kuesioner. agar lebih terarah pada tujuan penelitian dan pembahasan, hanya dibahas hal berikut. 1. apakah kinerja yang diberikan ojolali sudah sesuai dengan harapan pelanggan? 2. strategi pemasaran yang dianggap cocok untuk diterapkan oleh ojolali.com sebagai perusahaan yang berbasis ecommerce? dalam penelitian ini, penulis mencoba untuk mengetahui lebih mendalam mengenai stretegi pemasaran ojolali.com dan tingkat kepuasan pelanggan ojolali.com. tujuan penelitian sebagai berikut. 1. menganalisis tingkat kesesuaian antara harapan pelanggan dengan tingkat kinerja perusahaan. 2. menganalisis strategi yang cocok untuk di terapkan oleh ojolali.com. manfaat penelitian adalah agar dapat memberikan masukan kepada perusahaan berupa tindakan yang harus dilakukan untuk meningkatkan efektifitas pemasaran. pengertian internet menurut sutedjo (2001:10), internet (international network) adalah sebuah jaringan komputer yang sangat besar yang terdiri dari jaringan kecil yang saling terhubung menjangkau seluruh dunia. pengertian e-commerce menurut baum (purbo, 2001:2), e-commerce merupakan satu set dinamis teknologi, aplikasi, dan proses bisnis yang menghubungkan perusahaan, konsumen, dan komunitas tertentu melalui transaksi elektronik dan perdagangan barang, pelayanan, dan informasi yang dilakukan secara elektronik. mekanisme e-commerce dalam dunia bisnis menurut kosiur (indrajit, 2001:6), e-commerce melibatkan teknologi komputer dan telekomunikasi secara intensif sebagai sarana untuk melakukan dua hal utama berikut. 1. mengolah data mentah menjadi informasi yang dapat dimanfaatkan bersama oleh para pelaku bisnis dan konsumen. journal the winners, vol. 5 no. 2, september 2004: 149-170 152 2. mendistribusikan data atau informasi tersebut secara cepat dan efisien ke seluruh komponen bisnis yang membutuhkan. menurut indrajit (2001:7), dari beragam jenis aplikasi e-commerce yang ada, secara prinsip mekanisme kerjanya kurang lebih sama, seperti yang terlihat pada gambar 1 berikut ini. gambar 1 mekanisme e-commerce kepuasan pelanggan menurut oliver (dalam supranto, 2000:168-171), kepuasan adalah tingkat perasaan seseorang setelah membandingkan kinerja/hasil yang dirasakan dengan harapannya. jadi, tingkat kepuasan merupakan fungsi perbedaan antara kinerja yang dirasakan dengan harapan. apabila kinerja dibawah harapan maka pelanggan akan kecewa, bila kinerja sesuai dengan harapan maka pelanggan akan puas. begitu juga apabila kinerja melebihi harapan maka pelanggan akan sangat puas. hanson (2000:168-171) mempertimbangkan empat fundamental yang esensial dalam menciptakan kepuasan pelanggan (lihat gambar 2). masing-masing menampilkan produk atau proses suatu perusahaan berinteraksi dengan pelanggan dan memberikan online orders online : soft goods delivery : hard goods searches queries surfing access follow-on sales online ads customers standard orders distribution electronic customer support analisis strategi pemasaran… (s. liawatimena; dkk) 153 bingkai bermanfaat untuk memahami bagaimana jaringan (net) dapat meningkatkan kepuasan pelanggan. gambar 2 arah kepuasan pelanggan jenis dan metode penelitian dalam penelitian ini, metode yang dipergunakan adalah riset deskriptif sesuai dengan tujuan penelitian untuk menguraikan sifat suatu keadaan. riset deskriptif bertujuan untuk menghasilkan informasi yang digunakan untuk memberikan gambaran secara umum mengenai sikap, pendapat, dan persepsi yang diberikan pelanggan terhadap kinerja pelayanan yang diberikan oleh perusahaan. definisi operasional definisi operasional yang digunakan dalam penelitian ini sebagai berikut. 1. pelanggan semua orang yang menuntut perusahaan untuk memenuhi suatu standar kualitas tertentu dan karena itu akan memberikan pengaruh pada performasi (performance) perusahaan. 2. layanan pelanggan (customer service) layanan pelanggan adalah aktivitas yang didesain oleh perusahaan dengan tujuan untuk meningkatkan kepuasan pelanggan baik sebelum, selama, bahkan setelah pembelian. 3. kepuasan pelanggan produk kepuasan pelanggan pu rn a ju al a kt iv it as budaya perusahaan journal the winners, vol. 5 no. 2, september 2004: 149-170 154 suatu tingkatan yang perkiraan kinerja produkny sesuai dengan harapan pembeli. dengan kata lain, kepuasan pelanggan tercipta apabila kinerja/pelayanan yang diberikan oleh ojolali.com sesuai dengan harapan pelanggannya. variabel dan indikator penelitian tabel 1 variabel dan indikator penelitian variabel indikator data pelanggan jenis kelamin usia tempat tinggal pekerjaan pengeluaran per bulan aktifitas pelanggan sumber mengetahui informasi jenis produk yang dicari alasan berbelanja frekuensi pembelian kinerja perusahaan tampilan website pembagian kategori produk kelengkapan produk kelengkapan informasi produk harga yang kompetitif layanan offline kemudahan proses transaksi keamanan transaksi keamanan data pelanggan kecepatan pengiriman barang ketepatan pengiriman barang respon tehadap keluhan dan saran kesesuaian produk yang dipesan teknik analisis data skala likert adalah suatu alat atau metode untuk mengukur sikap, pendapat, dan persepsi responden terhadap suatu obyek yang sedang diteliti. setelah data dikelompokkan dengan teknik pembobotan (rating). hasil pengumpulan data dengan skala likert itu diolah lebih lanjut dengan perhitungan dan diposisikan pada diagram kartesius. skala yang digunakan dalam penelitian ini adalah skala 4 tingkat (sangat penting, penting, cukup penting, dan tidak penting). hal itu dimaksudkan agar data yang analisis strategi pemasaran… (s. liawatimena; dkk) 155 didapat menunjukkan kecenderungan yang jelas, tidak ditengah-tengah. untuk tingkat harapan pelanggan, diberikan bobot sebagai berikut. 1. jawaban penting diberi bobot 4, berarti pelanggan puas. 2. jawaban cukup penting diberi bobot 3, berarti pelanggan cukup puas. 3. jawaban kurang penting diberi bobot 2, berarti pelanggan cukup puas. 4. jawaban tidak penting diberi bobot 1, berarti pelanggan tidak puas. untuk kinerja atau pengalaman, diberikan penilaian dengan bobot sebagai berikut. 1. jawaban sangat baik diberi bobot 4, berarti pelanggan sangat puas. 2. jawaban baik diberi bobot 3, berarti pelanggan puas. 3. jawaban tidak baik diberi bobot 2, berarti pelanggan tidak puas. 4. jawaban sangat tidak baik diberi bobot 1, berarti pelanggan sangat tidak puas. dalam penelitian ini. terdapat 2 buah variabel yang diwakilkan oleh huruf x dan y. “x” merupakan tingkat kinerja perusahaan yang dapat memberikan kepuasan para pelanggan sedangkan “y” merupakan tingkat harapan pelaggan. tingkat kesesuaian adalah hasil perbandingan skor kinerja dengan skor harapan. tingkat kesesuaian itulah yang akan menentukan urutan prioritas peningkatan faktor yang akan mempengaruhi kepuasan pelanggan. rumus yang digunakan sebagai berikut. xi tki = x 100% yi tki = tingkat kesesuaian responden xi = skor penilaian kinerja perusahaan yi = skor penilaian harapan pelanggan selanjutnya, sumbu mendatar (x) akan diisi oleh skor tingkat pelaksanaan sedangakan sumbu diisi oleh skor tingkat harapan. gambaran umum perusahaan sejarah perusahaan pada awalnya adalah ide tentang bagaimana menyediakan kebutuhan produk dan layanan untuk mengungkapkan perhatian dan kepedulian kepada orang-orang di sekeliling lingkungan. terbentuklah ojolali.com, ungkapan yang berasal dari bahasa jawa yang berarti “jangan lupa”. situs ojolali.com telah memulai operasinya sejak bulan desember 1999 dan diluncurkan secara resmi pada tanggal 31 maret 2000. ojolali.com dikembangkan serta dikelola secara teknis oleh pt plexis erakarsa pirantiniaga (plasmedia), perusahaan pengembangan solusi teknologi informasi yang berdiri sejak tahun 1998 dan berkantor di jakarta. journal the winners, vol. 5 no. 2, september 2004: 149-170 156 desain ojolali.com mengalami 3 kali perubahan secara signifikan. perubahan pertama pada september 2000 ketika terjadi penambahan produk dan pada oktober 2001, ojolali.com dibuat sedemikian rupa untuk penyegaran, penambahan produk, dan akses yang lebih cepat. ojolali.com akan mengembangkan berbagai layanan baru, terutama ke arah pasar korporasi. perkembangan perusahaan 1. tahap pertama atau disebut “ojolali i“ adalah permulaan berdirinya situs berbelanja itu dengan menawarkan dua kategori yang saat itu telah terbukti kompabilitasnya dengan dunia internet, yaitu bunga dan kado/hadiah (flower and gifts). pada tahap itu juga, setelah peredaran di dalam lingkungan kecil relasi dan kerabat ojolali.com, situs itu mulai diluncurkan ke pasar umum dengan diadakannya event besar-besaran berupa grand launching. 2. melihat banyaknya permintaan dari konsumen, baik di dalam maupun di luar negeri, untuk diadakannya transaksi menggunakan kartu kredit maka situs ojolali.com melakukan kerja sama strategis dengan salah satu penyedia jasa pembayaran online terbesar di indonesia dengan reputasi ternama yang secara tepat bernama cipas.co.id. kerja sama itu memungkinkan konsumen ojolali.com untuk membebankan transaksi mereka pada tiga kartu kredit, yaitu visa, mastercard, dan american express(amex) dengan perantara pihak ketiga yang terspesialisasi, yaitu cipas.co.id. tahap ekspansi produk dan kerja sama strategis itu dinominasikan dengan nama “ojolali ii“. 3. seiring dengan kemajuan yang dialami ojolali.com, selanjutnya dilakukan ekspansi ke dalam kategori yang merupakan “akar“ bertumbuhnya transaksi online, yaitu kategori buku. guna mendapatkan supplier yang terpercaya dan terjamin kualitasnya, ojolali.com berhasil menggandeng divisi online dari salah satu penerbit ternama di indonesia, yaitu pt gramedia, melalui kerja samanya dengan telemedia. kerja sama itu menandakan dimulainya tahap yang sedang dijalani ojolali.com sampai saat ini, yaitu “ojolali iii“. dalam tahap itu juga, telah ditambahkan kategori elektronik yang mencakup subkategori telephones (mobile, cordless, fixed, fax) serta entertaiment (tv, audio dan video, mini hi-fi, portables, digital camera). pembahasan analisis perilaku pelanggan karakteristik responden responden yang diteliti berjumlah 50 orang, terdiri dari 34 orang pria (68%) dan 16 orang wanita (32%). hal itu menunjukkan bahwa ada perbedaan yang cukup menonjol antara pria dan wanita (selisih 36%) dalam melakukan kegiatan berbelanja online. analisis strategi pemasaran… (s. liawatimena; dkk) 157 dari hasil survei tentang usia, dapat diketahui bahwa tidak ada pelanggan yang berusia di bawah 20 tahun, mayoritas pelanggan ojolali.com adalah kelompok usia 31-40 tahun, yaitu sebanyak 54%. kelompok mayoritas kedua adalah kelompok umur 21-30 tahun sebanyak 40% kemudian diikuti kelompok minoritas, yaitu kelompok usia 41-50 tahun, yaitu sebanyak 6%. hasil survei tersebut menunjukkan bahwa tidak ada responden yang berasal dari kelompok berusia di bawah 20 tahun dan kelompok di atas 50 tahun. hal itu mungkin disebabkan oleh kurangnya pengetahuan tentang teknologi internet dan juga mungkin karena kurangnya rasa kurang peraya pada konsep belanja di internet. berbeda dengan kelompok usia 21-30 tahun dan kelompok usia 31-40 tahun dan mungkin kelompok itu sudah memiliki pengetahuan, kepercayaan, dan kematangan dalam mengambil keputusan. survei mengenai tempat tinggal responden dalam penelitian ini dikelompokkan menjadi empat, yaitu jabotabek, jawa-bali, luar jawa, luar negeri. hasil survei menunjukkan bahwa sebagian responden berasal dari jabotabek (jakarta, bogor, tangerang, bekasi), yaitu sebesar 48% dari total responden, terbanyak kedua berasal dari daerah jawa sampai bali, meliputi bandung, yogyakarta, surabaya, dan kota besar di jawa dan bali, yaitu sebesar 36%. responden yang berasal dari luar pulau jawa tampaknya sangat sedikit, yaitu sebesar 12% ditambah lagi responden yang berdomisili di luar negeri dengan kelompok paling sedikit, yaitu sebesar 4%. hal itu mungkin menunjukkan bahwa tingkat kepercayaan luar negeri terhadap situs online di indonesia masih kurang. dari hasil survei tentang pekerjaan responden, dapat dilihat bahwa sebesar 36% pelanggan ojolali.com adalah karyawan swasta, diikuti dengan mahasiswa sebagai mayoritas kedua sebesar 24%, kemudian para profesional sebesar 20%, para wiraswasta 12%, serta pegawai negeri sebanyak 8%. pelanggan ojolali.com dapat dikatakan sebagian besar adalah orang-orang yang sudah berpenghasilan cukup besar. terlihat pada tabel 5 dan sebesar 44% pelanggan ojolali.com adalah orang-orang yang mempunyai pengeluaran di atas rp5.000.000,00/bulan kemudian sebesar 36% lainnya mempunyai pengeluaran rp2.000.000,00 – rp5.000.000,00/bulan, dan sebanyak 20% mempunyai pengeluaran rp1.000.000,00 – rp2.000.000,00/bulan. perilaku pelanggan pelanggan ojolali.com ternyata mendapatkan informasi dari berbagai sumber. pada penelitian ini, sumber informasi dikelompokkan menjadi 4 kategori, yaitu melalui iklan di internet, surat kabar, teman, atau keluarga dan sumber lainnya. journal the winners, vol. 5 no. 2, september 2004: 149-170 158 berdasarkan hasil survei dapat dikatakan bahwa iklan di internet sangat efektif bagi perusahaan untuk mempromosikan situsnya. hal itu karena lebih dari separuh (56%) pelanggan mengenal ojolali.com dari iklan di internet sedangkan penyebaran informasi dari teman atau keluarga juga cukup efektif, yaitu sebesar 34% pelanggan mengenal ojolali.com dari teman atau keluarganya. oleh karena itu, kepuasan pelanggan sangat perlu diperhatikan sehingga apabila seorang pelanggan merasa puas maka ia akan menceritakan kepada teman dan saudaranya. menurut hasil survei, sebanyak 48% atau hampir setengah dari pelanggan ojolali.com memanfaatkan situs itu untuk membeli hadiah atau bingkisan, dan persentase untuk membeli buku menduduki posisi kedua, yaitu 28%, dah membeli barang lainya sebesar 16%. untuk membeli barang elektronik dengan online, kurang begitu digemari (8%). hal itu karena umumnya orang-orang membeli barang elektronik harus melihat bentuk fisik barang tersebut sehingga menimbulkan kepercayaan terhadap barang tersebut, berbeda dengan hanya melihat gambarnya. dalam bertransaksi, keamanan yang terjamin adalah faktor paling utama untuk menarik minat pembeli. hal itu dapat dilihat dalam tabel 9 berikut ini, yaitu 28 orang dari 50 orang (56%) pelanggan memilih berbelanja di ojolali.com karena adanya jaminan keamanan. faktor yang tidak kalah penting adalah kelengkapan produk. sebesar 24% pelanggan memilih alasan tersebut untuk berbelanja di ojolali.com. proses yang cepat mendapat presentase sebesar 12% dan 8% lainnya memiliki alasan lainnya. mengenai transaksi yang pernah dilakukan di ojolali.com sampai saat ini, survei menunjukkan bahwa para pelanggan ojolali.com kebanyakan melakukan transaksi antara 1-5 kali sebanyak 44% dan 6-10 kali sebanyak 36%, dan untuk jumlah transaksi antara 11 – 15 kali pelanggan ojolali hanya mempunyai presentase sebesar 14%. untuk transaksi >15%, hanya ada 6% pelanggan dari 50 orang pelanggan yang telah melakukannya. analisis kesesuaian responden sesuai dengan konsep dasar bahwa seorang pelanggan akan puas apabila kinerja perusahaan semakin mendekati harapan pelanggan maka analisis yang digunakan dalam penelitian ini adalah analisis yang mengupas dan mengolah data tentang tingkat kinerja dan harapan pelanggan. metode yang digunakan adalah metode penghitungan tingkat kesesuaian responden dan metode rata-rata. sebelum diolah, data setiap faktor terlebih dahulu dimasukkan ke dalam suatu tabel frekuensi harapan dan pengalaman kemudian dikelompokan berdasarkan faktor, faktor pertama adalah tampilan website. berdasarkan hasil survei, dari segi tampilan website, dapat diketahui bahwa kesesuaian responden terhadap faktor itu adalah sebesar 80,90%. dari segi pengelompokan kategori produk, dapat diketahui bahwa kesesuaian responden terhadap faktor itu adalah 84,77%. analisis strategi pemasaran… (s. liawatimena; dkk) 159 dari segi kelengkapan produk, dapat diketahui bahwa kesesuaian responden terhadap faktor itu adalah sebesar 82,74%. dari segi kelengkapan informasi produk, dapat diketahui bahwa kesesuaian responden terhadap faktor itu adalah sebesar 85,00%. dari segi harga yang kompetitif, dapat diketahui bahwa kesesuaian responden terhadap faktor itu adalah sebesar 68,50%. dari faktor layanan offline melalui telepon, diketahui bahwa tingkat kesesuaian responden terhadap faktor itu adalah sebesar 71,42%. dari segi kemudahan proses transaksi, dapat diketahui bahwa tingkat kesesuaian responden terhadap faktor itu adalah sebesar 82,50%. dari segi tingkat kesesuaian responden, dapat diketahui bahwa kesesuaian responden terhadap faktor itu adalah sebesar 87,00%. dari segi keamanan data pelanggan, dapat diketahui bahwa tingkat kesesuian responden terhadap faktor itu adalah sebesar 79,50%. dari segi kecepatan pengiriman barang, dapat diketahui bahwa kesesuaian responden terhadap faktor itu adalah sebesar 82,50%. dari ketepatan pengiriman barang, dapat diketahui bahwa tingkat kesesuian responden terhadap faktor itu adalah sebesar 78,00%. dari segi respons terhadap keluhan dan saran, dapat diketahui bahwa kesesuaian responden terhadap faktor itu adalah sebesar 78,50%. dari segi kesesuaian produk yang di pesan, dapat diketahui bahwa tingkat kesesuian responden terhadap faktor itu adalah sebesar 81,50%. hasil diagram kartesius setelah data dikumpulkan dan diklasifikasikan ke dalam masing-masing faktor dan diberi bobot, data tersebut dirangkum ke dalam satu tabel yang terdiri dari 2 variabel (x, y). variabel x diwakilkan oleh kinerja dan variabel y diwakilkan oleh tingkat harapan responden. setelah data dimasukan kemudian dicari rata-rata x dan y, variabel x dan y yang telah dirata-rata tadi dirata-ratakan lagi. setelah didapat koordinat titik untuk masing-masing faktor maka titik-titik tersebut diposisikan ke dalam suatu diagram yang terdiri dari empat kuadran, yaitu diagram kartesius. journal the winners, vol. 5 no. 2, september 2004: 149-170 160 tabel 24 perhitungan rata-rata penilaian kinerja dan penilaian harapan pada faktor yang mempengaruhi kepuasan pelanggan ojolali.com y . 5 .11. 12. 9 . 3,13. 8 . 7,10 . 4 3.98 . 1 . 6 . 2 0 3.18 x gambar 3 faktor yang mempengaruhi kepuasan pelanggan ojolali.com no. faktor yang mempengaruhi kepuasan pelanggan ojolali.com penilaian pengalaman (x) penilaian harapan (y) x y 1 tampilan website yang menarik 161 199 3,22 3,98 2 pengelompkan kategori produk 167 197 3,34 3,94 3 kelengkapan produk 163 200 3,26 4,00 4 kelengkapan informasi produk 170 200 3,40 4,00 5 harga yang kompetitif 137 200 2,74 4,00 6 layanan offline 140 196 2,80 3,92 7 kemudahan proses transaksi 165 200 3,30 4,00 8 keamanan transaksi 164 200 3,28 4,00 9 keamanan data pelanggan 159 200 3,18 4,00 10 kecepatan pengiriman barang 165 200 3,30 4,00 11 ketepatan pengiriman barang 156 200 3,12 4,00 12 respon terhadap keluhan dan saran 157 200 3,14 4,00 13 kesesuaian produk yang di pesan 163 200 3,26 4,00 = = rata-rata x dan y 3.18 3.98 kuadran a prioritas utama kuadran b pertahankan prestasi kuadran c prioritas rendah kuadran d berlebihan kinerja analisis strategi pemasaran… (s. liawatimena; dkk) 161 dari hasil perhitungan tabel 24 maka diperoleh titik-titik pada diagram kartesius (gambar 3). dalam gambar 3 itu terlihat bahwa letak unsur pelaksana faktor atau atribut yang mempengaruhi kepuasan pelanggan ojolali.com terbagi dalam empat bagian. hasil pengukur faktor atau atribut kepuasan pelanggan itu berdasarkan tingkat harapan dan kinerjanya yang memungkinkan pihak perusahaan untuk dapat menitik beratkan usaha perbaikan untuk hal atau atribut yang benar-benar dianggap penting saja oleh pelanggan atau konsumen. uraian diagram kartesius tersebut dapat dijelaskan seperti berikut. 1. kuadran a faktor atau atribut kepuasan pelanggan ojolali.com berada dalam kuadran itu dan pelaksanaannya perlu diprioritaskan oleh perusahaan. hal itu karena keberadaan faktor itu yang dinilai sangat penting oleh pelanggan sedangkan tingkat pelaksanaannya masih belum memuaskan. faktor yang termasuk dalam kuadran a itu sebagai berikut. harga produk yang kompetitif (= 5). keamanan data pelanggan (= 9). ketepatan pengiriman barang (= 11). respon terhadap keluhan dan saran (= 12). 2. kuadran b menunjukan faktor atau atribut kepuasan pelanggan ojolali.com berada dalam kuadran ini perlu dipertahankan karena pada umumnya tingkat pelaksanaannya telah sesuai dengan kepentingan dan harapan pelanggan. oleh karena itu, dapat memuaskan pelanggan atau konsumen. faktor yang termasuk dalam kuadran b sebagai berikut. tampilan website (= 1). kelengkapan produk (= 3). kelengkapan informasi produk (= 4). kemudahan proses transaksi (= 7). keamanan transaksi (= 8). kecepatan pengiriman barang (= 10). kesesuaian produk yang dipesan (= 13). 3. kuadran c menunjukkan bahwa faktor yang mempengaruhi kepuasan pelanggan ojolali.com berada dalam kuadran itu dinilai masih kurang penting bagi pelanggan sedangkan kualitas pelaksanaannya biasa atau cukup saja. faktor yang ada dalam kuadran c sebagai berikut. layanan offline (= 6) . 4. kuadran d menunjukkan bahwa faktor yang mempengaruhi kepuasan pelanggan ojolali.com berada dalam kuadran itu dinilai berlebihan dalam pelaksanaannya. hal itu terutama karena pelanggan menganggap tidak terlalu penting terhadap adanya faktor tersebut. journal the winners, vol. 5 no. 2, september 2004: 149-170 162 akan tetapi, pelaksanaannya dilakukan dengan baik sekali oleh perusahaan sehingga dapat memuaskan, meskipun menjadi lebih mahal. faktor di dalam kuadran d sebagai berikut. pengelompokan kategori produk (= 19). hasil penelitian hasil analisis karakteristik responden dari hasil penelitian, diketahui bahwa 68% pelanggan ojolali.com berjenis kelamin pria dan 32% adalah wanita yang mayoritas berusia 31 hingga 40 tahun (54%). dilihat dari daerah tempat tinggal, pelanggan ojolali.com terbanyak berasal dari jabotabek (48%), jawa hingga bali menduduki peringkat kedua dengan 36%, sedangkan luar jawa hanya 12 %, dan 4% dari luar negeri. dari segi pekerjaan, karyawan swasta menduduki peringkat pertama dengan 36%, disusul oleh mahasiswa dengan 24%, dan professional 10%. wiraswasta hanya 12% dan sisanya 8% adalah pegawai negeri. berdasarkan hasil itu, dapat disimpulkan bahwa pelanggan ojolali.com adalah pelanggan dengan tingkat ekonomi yang menengah ke atas. hal itu dapat dilihat dari pengeluaran per bulannya dengan persentase terbesar (44%), berasal dari pengeluaran di atas rp5.000.000,00. data selengkapnya dapat dilihat pada tabel 25 berikut ini. tabel 25 penelitian karakteristik responden karateristik responden hasil (jumlah orang) persentase (%) jenis kelamin pria (34) 68 wanita (16) 32 usia 21 30 tahun (20) 40 31 40 tahun (27) 54 41 50 tahun (3) 6 daerah tempat tinggal jabotabek (24) 48 jawa bali (18) 36 luar jawa (6) 12 luar negeri (2) 4 jenis pekerjaan mahasiswa (12) 24 wiraswasta (6) 12 pegawai negeri (4) 8 karyawan swasta(18) 36 profesional (10) 20 pengeluaran per bulan 1.000.000 2.000.000 (10) 20 2.000.000 5.000.000 (18) 36 > 5.000.000 (22) 44 analisis strategi pemasaran… (s. liawatimena; dkk) 163 hasil analisis perilaku pembelian dari penelitian perilaku pembelian terhadap 50 responden (pelanggan), dapat diketahui bahwa 56% pelanggan mendapatkan informasi mengenai ojolali.com dari iklan di internet. bingkisan/hadiah merupakan produk yang paling dicari di ojolali.com, berdasarkan hasil survei sebanyak 48%. data selengkapnya dapat dilihat pada tabel 26. tabel 26 hasil penelitian perilaku pelanggan variabel hasil (jumlah orang) persentase (%) sumber informasi iklan di internet (28) 56 surat kabar (5) 10 teman dan keluarga (17) 34 produk yang dicari buku buku (14) 28 bingkisan/hadiah (24) 48 barang elektronik (4) 8 lain lain (8) 16 alasan bebelanja keamanan terjamin (28) 56 produknya lengkap (12) 24 prosesnya cepat (6) 12 lain lain (4) 8 frekuensi pembelian 1 5 kali (22) 44 6 10 kali (18) 36 11 15 kali (7) 14 >15 kali (3) 6 terjaminnya keamanan dalam bertransaksi (56%) merupakan alasan responden melakukan perbelanjaan. namun demikian, tingginya tingkat keamanan tidak diiringi dengan frekuensi pembelian. hal itu dapat dilihat dari persentase terbesar responden melakukan pembeliaan hanya 1–5 kali saja (44%). dari hasil penelitian juga dapat diketahui bahwa 56% pelanggan mendapatkan informasi mengenai ojolali.com dari iklan di internet sedangkan bingkisan/hadiah merupakan produk yang paling dicari di ojolali.com sebanyak 48%. terjaminnya keamanan dalam bertransaksi (56%) merupakan alasan responden melakukan perbelanjaan. namun demikian, tingginya tingkat keamanan tidak diiringi dengan frekuensi pembelian. hal itu dapat dilihat dari persentase terbesar responden melakukan pembelian hanya 1 – 5 kali saja, yaitu sebesar (44%). hasil analisis tingkat kesesuaian responden dan diagram kartesius dari data yang didapatkan mengenai harapan dan pengalaman pelanggan, didapatkan hasil yang mencerminkan bahwa hampir semua faktor menghasilkan tingkat journal the winners, vol. 5 no. 2, september 2004: 149-170 164 kesesuaian di atas 75%. secara rata-rata, tingkat kesesuaian reponden mencapai 79.82%. hal itu menunjukkan bahwa kinerja ojolali.com sesuai dengan harapan pelanggan dan tingkat kesesuaiannya mencapai 79,82%. hasil selengkapnya dapat dilihat pada tabel 27 berikut ini. tabel 27 hasil analisis tingkat kesesuaian responden tingkat kepuasan responden dibagi menjadi empat tingkatan berdasarkan skala likert sebagai berikut. 1. nilai rata-rata 1-25, berarti sangat tidak puas. 2. nilai rata-rata 26-50, berarti tidak puas. 3. nilai rata-rata 51-75, berarti puas. 4. nilai rata-rata 76-100, berarti sangat puas. dari hasil penelitian, tingkat kesesuaian responden ojolali.com berada pada tingkat 79,82% maka dapat dikategorikan sangat puas. analisis swot suatu perusahaan harus mengetahui kondisi lingkungan tempat produk atau jasanya akan disebarkan. oleh karena itu, perusahaan perlu mengetahui kekuatan (strenght/s) dan kelemahan (weaknesses/w) lingkungan dalamnya (internal) dan juga mengkaji peluang (opportunities/o) serta ancaman (threats/t) dari eksternalnya. kekuatan (strength) yang dimiliki oleh ojolali.com sebagai berikut. 1. jumlah pelanggan yang banyak. 2. produk yang beragam dan bermutu. 3. sumber daya manusia yang terampil dibidangnya. faktor % jumlah (orang) 1 80,9 40 2 84,7 42 3 82,7 41 4 85,0 42 5 68,5 34 6 71,4 35 7 82,5 41 8 82,0 41 9 79,5 39 10 82,5 41 11 78,0 39 12 78,5 39 13 81,5 40 rata-rata 79,82 39,5 analisis strategi pemasaran… (s. liawatimena; dkk) 165 4. terpilih sebagai “situs belanja buku pilihan” versi pc media. 5. sistem pembayaran yang sangat baik. 6. kemudahan mengakses situs ojolali.com. 7. jasa kurir yang baik (pengiriman tepat waktu). kelemahan (weakness) yang dimiliki oleh ojolali.com, antara lain sebagai berikut. 1. harga yang cenderung tinggi pada produk tertentu di banding pesaingnya. 2. promosi yang kurang. 3. jumlah pembeli terhadap pengunjung relatif lebih kecil. 4. kurangnya kantor perwakilan di daerah. 5. segmen pasar yang tidak menjangkau seluruh lapisan masyarakat. kesempatan (opportunity) yang dimiliki oleh ojolali.com, sebagai berikut. 1. pertumbuhan penduduk. 2. daya konsumsi yang cukup tinggi. 3. pola gaya hidup konsumen yang berubah-ubah. 4. prospek e-commerce. 5. banyaknya investor yang tertarik dalam bisnis ini. ancaman (threat) juga dimiliki oleh ojolali.com, antara lain sebagai berikut. 1. afta (asean free trade area). 2. infrastruktur, mahalnya biaya telepon dan internet. 3. budaya, masyarakat lebih suka bebelanja langsung, seperti di mal dan pasar. 4. pengetahuan tentang e-commerce yang masih kurang di indonesia. 5. kondisi perekonomian yang tidak menentu. 6. internet user, belum memasyarakatnya e-commerce di indonesia. 7. banyak bermunculan superstore dimana-mana. tabel 28 matriks efas faktor strategis eksternal bobot rating bobot x rating ancaman: • afta • kondisi perekonomian • kurangnya sarana infrastruktur • budaya masyarakat • adanya superstore 0,15 0,10 0,05 0,05 0,05 3 3 2 1 1 0,45 0,30 0,10 0,05 0,10 peluang : • pertumbuhan penduduk. • daya konsumsi yang makin tinggi • pola gaya hidup yang berubah-ubah. • prospek e-commerce • banyaknya investor yang tertarik 0,20 0,15 0,05 0,10 0,10 4 4 2 3 3 0,80 0,60 0,10 0,30 0,30 total 1,0 3,10 sumber: ojolali.com journal the winners, vol. 5 no. 2, september 2004: 149-170 166 tabel 29 matriks ifas sumber: ojolali.com hasil analisis swot berdasarkan analisis, strategi ojolali.com berada pada posisi wo, yaitu menciptakan strategi dengan meminimalkan kelemahan untuk memanfaatkan peluang. posisi ojolali.com itu dapat dilihat pada gambar 4 berikut ini. strengths (s) weaknesses (w) 4 so wo opportunities (o) st wt threats (t) 0 4 gambar 4 letak strategi ojolali.com faktor strategis internal bobot rating bobot x rating kekuatan: • produk-produk yang beragam dan bermutu • sumber daya manusia yang terampil di bidangnya • terpilih sebagai “situs belanja buku pilihan” versi pc media • sistem pembayaran yang sangat baik • jumlah pelanggan yang banyak 0,20 0,05 0,10 0,10 0,15 4 1 3 3 4 0,80 0,05 0,30 0,30 0,60 kelemahan : • promosi yang kurang • harga yang lebih tinggi dari pesaing • penyediaan barang berada di mitra kerja • jumlah pembeli relatif kecil dibandingkan pengunjung • kurang ada kantor perwakilan di daerahdaerah 0,15 0,10 0,05 0,05 0,05 4 2 1 1 1 0,60 0,20 0,05 0,05 0,05 total 1,0 3,0 2.85 2,65 analisis strategi pemasaran… (s. liawatimena; dkk) 167 matriks swot berdasarkan penelitian, posisi ojolali.com berada pada strategi wo, yaitu strategi yang diterapkan berdasarkan pemanfaatan peluang yang ada dengan cara menimalkan kelemahan yang ada. langkah yang dapat diambil oleh ojolali.com dengan strategi wo adalah dengan cara menghimpun dana kemudian melakukan promosi besarbesaran, serta melakukan strategi harga guna mengatasi persaingan harga yang kompetitif. untuk lebih jelasnya, strategi tersebut dapat dilihat pada tabel 30 berikut ini. tabel 30 matriks swot ifas efas strength (s) • pelanggan yang banyak • produk yang beragam • sdm yang terampil • peningkatan penjualan • situs terbaik • sistem pembayaran weakness (w) • promosi yang kurang • harga yang tinggi • penyediaan barang berada di mitra kerja • kurangnya kantor perwakilan di daerah. • segmentasi pasar tidak ke seluruh lapisan opportunity (o) • pertumbuhan penduduk • daya konsumsi • pola gaya hidup • prospek b2b • investor yang tertarik strategi so • optimalisasi sdm • mempertahankan citra situs • mencari pelanggan sebanyak mungkin • penambahan produk strategi wo • melakukan promosi yang lebih aktif agar lebih dikenal • menerapkan strategi harga • mencari pemasok lain untuk mengatasi masalah harga agar lebih kompetitif threats (t) • afta • infrastruktur • budaya • pengetahuan/knowledge • internet user strategi st • meningkatkan mutu barang serta pelayanan yang lebih baik. • penjelasan teknis melalui social education untuk masyarakat • mengoptimalkan penggunaan teknologi internet strategi wt • menerapkan strategi bisnis baru yang lebih efisien dan efektif • efektifitas pengunaan internet • peningkatan pelayanan kepada pelanggan journal the winners, vol. 5 no. 2, september 2004: 149-170 168 penerapan strategi swot dalam ojolali.com, antara lain dapat dilakukan dengan cara berikut. 1. strategi so • mengoptimalkan sumber daya manusia, misalkan dengan peningkatan standar karyawan pada saat penerimaan karyawan baru, contoh minimal d3 menjadi minimal s1. • mencari investor lain yang bertujuan untuk menambah modal perusahaan sehingga dapat menghadirkan produk yang lebih lengkap dan juga mencari pemasok lain agar didapat barang yang beraneka ragam. • dengan adanya penghargaan sebagai situs terbaik pilihan pc media maka perlu bagi ojolali.com untuk mempertahankan penghargaan tersebut. 2. strategi wo • strategi yang dapat dilakukan ojolali.com antara lain dengan melakukan kerja sama dengan situs lain agar saling me-link antar situs atau dengan menempatkan iklan di situs lain. • strategi lainya adalah dengan cara melakukan strategi harga, yaitu dengan cara mencari supplier lain yang dapat dapat lebih menekan harga sehingga didapat harga yang lebih murah. • penekanan harga seefektif mungkin dari harga yang didapat sehingga dapat bersaingan dengan situs lain dan juga pada bisnis offline (konvensional). 3. strategi st • dalam pengontrolan mutu barang, dapat dilakukan dengan cara menyeleksi barang dari supplier agar barang yang akan dipasarkan oleh perusahaan dapat berkualitas. • penyuluhan dan pengenalan internet dapat membantu mengubah kebiasaan masyarakat dalam pengunaan internet sehingga dapat menambah prospek bagi perusahaan. • untuk daya saing dengan bisnis konvensional, kemudahan dalam bertransaksi harus lebih ditingkatkan, contohnya dengan kerja sama dengan bank swasta yang lebih banyak sehingga dapat memudahkan dalam pengiriman dana. 4. strategi wt • lebih mengefektifkan promosi, contohnya dalam pemasangan iklan. iklan ojolali akan lebih efektif apabila dipasang di majalah komputer daripada dipasang di majalah remaja. • kepuasan pelanggan dapat ditingkatkan dengan cara meningkatkan pelayanan yang telah ada, contohnya dalam ketepatan pengiriman barang, apabila jasa kurir yang dipakai dirasa tidak dapat memenuhi pesanan dengan tepat maka perlu dilakukan pengantian jasa kurir. • perlunya dilakukan pencarian investor baru sehingga dapat meningkatkan modal perusahaan. hal tersebut dilakukan agar dapat membuat kantor perwakilan guna melayani pemesanan maupun keluhan dari konsumen. analisis strategi pemasaran… (s. liawatimena; dkk) 169 penutup simpulan berdasarkan penelitian yang telah dilakukan, diperoleh simpulan sebagai berikut. 1. mayoritas pelanggan ojolali.com adalah pria (68%), berusia 31-40 tahun (54%). mayoritas mereka tinggal di indonesia, khususnya jabotabek (48%). pelanggan ojolali dapat dikatakan kebanyakan dari kalangan menengah ke atas karena mayoritas pengeluaran mereka di atas 2 juta rupiah perbulan (80%). 2. umumnya, pelanggan ojolali.com mengenal ojolali dari iklan di internet (56%), kebanyakan produk yang mereka cari adalah hadiah/bingkisan (48%). terjaminnya keamanan merupakan faktor pendorong terbesar para pelanggan melakukan transaksi di ojolali (56%) yang kebanyakan telah melakukan transaksi sebanyak (44%). 3. dari 13 faktor yang diberikan oleh ojolali.com, ada empat faktor yang harus menjadi prioritas utama, yaitu harga yang kompetitif, keamanan data pelanggan, ketepatan pengiriman barang, dan respons terhadap keluhan dan saran. hal itu karena pelanggan mengangap faktor tersebut sangat penting kemudian ada tujuh faktor, yaitu tampilan website, kelengkapan produk, kelengkapan informasi produk, kemudahan proses transaksi, keamanan transaksi, kecepatan pengiriman barang, kesesuaian produk yang dipesan yang perlu dipertahankan agar dapat bersaing dengan perusahaan sejenis. terdapat 1 faktor yang dianggap berlebihan pelayanannya, yaitu pengelompokan kategori produk dan 1 faktor lagi dianggap tidak begitu penting sehingga mereka menggangap tidak perlu diutamakan pelaksanaannya. dari hasil analisis tingkat kesesuaian antara kinerja yang diberikan ojolali.com dengan harapan pelanggan, tingkat kesesuaiannya mencapai 79,82%. hal itu dapat dianggap bahwa tingkat kepuasan pelanggan ojolali.com sebesar 79,82% (puas). 4. dari hasil analisis penerapan strategi dengan metode swot, diketahui ojolali.com berada dalam penerapan strategi w dan ojolali.com harus menciptakan strategi yang meminimalkan kelemahan untuk memanfaatkan peluang, seperti melakukan promosi yang lebih aktif dan melakukan strategi harga. saran saran yang dapat diberikan kepada ojolali.com sebagai berikut: 1. ojolali.com sebaiknya menerapkan suatu konsep yang orientasi perusahaannya dipusatkan kepada pelanggan sehingga apabila dikemudian hari ingin mengambil keputusan ataupun ingin membuat kebijakan, selalu bertolak pada kepuasan pelanggan. 2. mayoritas pelanggan ojolali.com dapat dikategorikan sebagai masyarakat yang tingkat ekonominya berada pada tingkat menengah ke atas. hal itu dilihat dari tingkat journal the winners, vol. 5 no. 2, september 2004: 149-170 170 pengeluaran mereka per bulan. untuk kalangan masyarakat seperti itu, mereka lebih mengutamakan pelayanan sedangkan harga produk di nomor duakan. daftar pustaka anonymous. apa dan bagaimana e-commerce. 2002. semarang: wahana komputer dan yogyakarta: andi. hanson, ward. 2000. pemasaran internet. jakarta: salemba emban patria. indrajit, r. 2001. koleksi tulisan dan pemikiran e-commerce: kiat dan strategi bisnis di dunia maya. jakarta: elex media komputindo. indriantoro, nur dan bambang supomo. 1999. metodologi penelitian bisnis. yogyakarta: bpfe. oetomo, budi. 2001. perspektif e-business: tinjauan teknis, manajerial, dan strategi. yogyakarta: andi. ojolali. 2003. http://www.ojolali.com. rangkuti, freddy. 2003. analisis swot: teknik membedah kasus bisnis. jakarta: gramedia pustaka utama. robinson, r. dan john pearce. 1998. manajemen strategik. jakarta: binarupa aksara. sukirno, sadono. 2002. pengantar teori mikroekonomi. jakarta: rajagrafindo persada. supranto, j. 2001. pengukuran tingkat kepuasan pelanggan untuk menaikkan pangsa pasar. jakarta: rineka cipta. tjiptono, fandi. 2001. strategi pemasaran. yogyakarta: andi wahyudi, aang dan purbo o.w. 2001. mengenal e-commerce. jakarta: elex media komputindo. microsoft word 05_edy supriyadi_setting.doc percobaan ekonomi .....(edy supriyadi) 43 percobaan ekonomi untuk mengkaji pengaruh informasi serta jumlah penjual dan pembeli dalam transaksi pasar edy supriyadi universitas pancasila, jln. srengseng sawah jagakarsa, jakarta selatan 12640 abstract perfect competition (pps) is the most ideal market structure because this market system is considered will ensure the realization of activities producing goods and services with very high efficiency compared to other market structures such as monopoly. due to its benefits for sellers and buyers, economists often wish for the creation of perfect competition. in the pattern of transactions in everyday life, there are many market transactions commonly encountered, such as decentralized systems (dt), and double auction (da). this paper presents the use of experimental methods to study the characteristics of both systems the transaction is in a "perfect competition” (5 sellers and 5 buyers' and market monopoly (with 1 seller and 5 buyers). responses observed are contract price (cp), market efficiency, cp diversity coefficient on the price balance, buyer surplus and seller surplus. from the experimental results can be seen that the average contract price (cp) during 5 experimental periods that the value of cp at perfect competition market is smaller than the monopoly market. from efficiency levels between transactions type it can be seen that the double auction type of transaction is more efficient than with the decentralization type of transaction. keywords: economic experiment, information influence, market transaction abstrak pasar persaingan sempurna (pps) merupakan struktur pasar yang paling ideal karena dianggap sistem pasar ini akan menjamin terwujudnya kegiatan memproduksi harang-barang dan jasa-jasa yang sangat tinggi efisiensinya dibandingkan dengan struktur pasar yang lain seperti monopoli. karena sifatnya menguntungkan bagi penjual dan pembeli, seringkali para ekonom mengharapkan terciptanya pasar persaingan sempurna. pola transaksi dalam kehidupan sehari dan, ada berbagai transaksi pasar yang biasa ditemui. diantaranya adalah sistem desentralisasi (dt), double auction (da). makalah ini menyajikan penggunaan metode percobaan untuk mengkaji karakteristik kedua sistem transaksi tersebut dalam “pasar persaingan sempurna (5 penjual dan 5 pembeli” dan pasar monopoli (dengan 1 penjual dan 5 pembeli). respon yang diamati yaitu contract price (cp), efisiensi pasar, koefisien keragaman cp terhadap harga keseimbangan, surplus pembeli dan surplus penjual. dari hasil percobaan dapat dilihat bahwa rata-rata contract price (cp) selama 5 periode percobaan terdapat bahwa nilai cp pada pasar persaingan sempurna lebih kecil dibandingkan dengan pasar monopoli. tingkat efisiensi antar tipe transaksi terlihat bahwa tipe transaksi double auction lebih efisien dibandingkan dengan tipe transaksi desentralisasi. kata kunci: percobaan ekonomi, pengaruh informasi, transaksi pasar 44 journal the winners, vol. 11 no. 1, maret 2010: 43-54 pendahuluan pasar persaingan sempurna (pps) merupakan struktur pasar yang paling ideal karena dianggap sistem pasar ini akan menjamin terwujudnya kegiatan memproduksi harang-barang dan jasajasa yang sangat tinggi efisiensinya dibandingkan dengan struktur pasar yang lain seperti monopoli. karena sifatnya menguntungkan bagi penjual dan pembeli, seringkali para ekonom mengharapkan terciptanya pasar persaingan sempurna. namun, dalam beberapa buku teks ekonomi, dinyatakan bahwa syarat-syarat yang harus dipenuhi bagi terbentuknya pasar persaingan sempurna adala jumlah pembeli dan jumlah penjual banyak; adanya kebebasan bagi pelaku ekonomi keluar-masuk pasar; produk yang dipasarkan homogen; dan informasi yang sempurna, artinya para pembeli dan penjual mengetahui tentang keadaan pasar yaitu tingkat harga yang berlaku dan perubahan-perubahan hargaharga tersebut. pasar monopoli merupakan struktur pasar, di mana terdapat hanya seorang penjual atau produsen dengan banyak pembeli. adapun sifat-sifat pasar monopoli adalah jumlah penjual hanya satu dengan banyak pembeli, kecenderung harga ditentukan oleh penjual saja, pembeli hanya berlaku sebagai price-taker, dan produk yang dipasarkan hanya satu macam. masalahnya di sini adalah apakah untuk mewujudkan kondisi pasar persaingan sempurna harus memenuhi keempat syarat di atas, atau mungkin ada suatu syarat yang jika dipenuhi sudah cukup memenuhi karakteristik pasar persaingan sempurna (sufficient condition). pola transaksi dalam kehidupan sehari dan ada berbagai transaksi pasar yang biasa ditemui, di antaranya adalah sistem desentralisasi (dt), double auction (da). transaksi pasar yang sering ditemui adalah sistem desentralisasi. dalam sistem mi pembeli dan penjual bebas dan aktif mencari pasangannya untuk melakukan tawar menawar harga atas suatu barang dagangan. sistem transaksi ini agak tertutup karena semua informasi tentang penawaran penjual (offers), permintaan pembeli (bids) dan harga yang disepakati (contract price) tidak diketahui oleh semua pelaku pasar atau publik. sedangkan sistem double auction merupakan sistem pelelangan 2 arah, yaitu semua penjual dan pembeli sama-sama melakukan tawar menawar harga terhadap suatu barang sehingga semua informasi diketahui oleh publik atau semua penjual dan pembeli dalam pelelangan tersebut. penelitian ini menyajikan penggunaan metode percobaan untuk mengkaji karakteristik kedua sistem transaksi tersebut dalam “pasar persaingan sempurna” (5 penjual dan 5 pembeli dan pasar monopoli, dengan 1 penjual dan 5 pembeli). respon yang diamati, yaitu contract price (cp), efisiensi pasar, koefisien keragaman cp terhadap harga keseimbangan, surplus pembeli, dan surplus penjual. keterangan mengenai respon dan cara menghitungnya dapat dilihat dalam lampiran. pokok permasalahan dalam penelitian ini adalah sebagai berikut (1) bagaimana performance tipe pasar (pps dan mo) dengan tipe transaksi (dt dan da) dengan nilai ukur contract price, efisiensi, surplus konsumen, surplus produsen, dan variance; (2) apakah terdapat perbedaan rata-rata contract price antara tipe pasar (pps dan mo) serta antara tipe transaksi (dt dan da); (3) apakah terdapat interaksi antara tipe pasar dengan tipe transaksi. percobaan ekonomi versus survei adalah sebagai berikut. dalam beberapa hal, untuk menyelidiki hubungan sebab akibat sering tidak dapat dilakukan dengan cara survei atau pengamatan langsung. sebagai ilustrasi, penulis sajikan cerita sindiran antara monetris dan keynessian yang ditulis oleh edward leamer, penulis buku study econometrics, yang pernah menulis artikel “let’s take the con of econometrics” pada jurnal american economic review yang sempat menggegerkan para pakar ekonometrika. dalam artikel tersebut, leamer menyindir monetrais dan keynessian menggunakan cerita perumpamaan yang menarik tentang ‘kaum luminish (ahli cahaya) vs kaum aviophile (ahli perburungan)’. percobaan ekonomi .....(edy supriyadi) 45 dalam cerita leamer “kaum luminist dan kaum pecinta burung terlibat pada perdebatan tentang hasil suatu tanaman yang tumbuh di bawah pohon yang sering dihinggapi oleh burung. kaum luminist percaya bahwa hasil pohon yang tinggi tersebut disebabkan karena pohon menerima intensitas cahaya yang baik karena ada pohon rindang di atasnya. sementara itu, kaum pecinta burung percaya bahwa hasil tanaman yang tinggi tersebut disebabkan oleh burung yang hinggap di atas pohon tersebut, kemudian membuang kotorannya sehingga menyuburkan tanah dan akhirnya tanaman tersebut hasilnya lebih baik dibandingkan tanaman yang lainnya. jika kita tertarik untuk membuktikan apakah kaum luminist yang benar atau kaum pecinta burung yang benar atau kedua-duanya benar atau malahan kedua-duanya salah (karena bisa jadi hasil tanaman yang lebih baik, bukan disebabkan oleh tumbuhan yang bisa memberikan intensitas cahaya yang baik dan kotoran burung, tetapi karena faktor lain), maka kita harus punya bukti, fakta, atau data. pembuktian dengan teori pun tidak berhasil menyimpulkan siapa yang benar dan siapa yang salah karena teori yang dipahami saat itu adalah “kalau tanaman diberi pupuk kotoran burung tanaman tersebut akan subur“ dan “kalau tanaman tersebut diberikan intensitas cahaya yang baik, maka tanaman juga akan subur”. pertanyaannya adalah mungkinkah bukti atau fakta atau data tersebut dapat diperoleh dengan cara survei atau mengobservasi?. teknik survei apakah memungkinkan kita untuk memperoleh bukti bahwa kaum luminist atau kaum aviophile yang benar atau kedua-duanya benar?. jika kita dapat memperoleh amatan ada tanaman di bawah pohon tanpa ada burung yang hinggap dan kita amati hasilnya serta memperoleh amatan tanaman yang hanya diberi kotoran burung serta amatan tanaman yang ada pohonnya dan dihinggapi burung yang mengeluarkan kotorannya. untuk memperoleh amatan keadaan yang demikian sungguh sangat sulit apalagi kalau disyaratkan tanahnya harus sama, iklimnya sama dan faktor-faktor lainnya dianggap sama. usaha tersebut akan mendekati kemustahilan, bukan?. dengan merancang percobaan, bukti atau fakta atau data tersebut dapat digali. oleh karena itu, perancangan percobaan menjadi alternatif dalam membangkitkan data atau fakta. percobaan yang dimaksud adalah kita membuat model tiruan untuk fenomena di atas di dalam laboratorium dengan beberapa modifikasi. pertama, kita membuat keadaan yang mirip dengan keadaan di atas laboratorium, yaitu membuat satuan percobaan dengan menanam tanaman, kemudian di sampingnya kita berikan (tanaman) pohon yang besar yang dapat menyaring intensitas cahaya, tetapi kita isolasikan sehingga burung tidak bisa hinggap pada pohon yang besar tersebut. kedua, kita membuat satuan percobaan dengan tanaman tanpa pohon yang besar tersebut, kemudian tanaman tersebut kita pupuk dengan kotoran burung yang sering menghinggapi pohon yang besar tadi. karena percobaan ini dilakukan di laboratorium, maka faktor-faktor lain antar satuan percobaan dianggap sama, yaitu kesuburuan tanahnya sama, pemberian irigasinya sama, pestisidanya juga sama, dan faktor iklim juga sama. ketiga, kita membuat satuan percobaan sebagai kontrol, yaitu menanam tanaman tanpa ada pohon dan tanpa kotoran burung. dalam hal ini, kita telah melakukan percobaan untuk membuktikan apakah hasil tanaman yang lebih baik disebabkan oleh karena pohon yang ada di sebelah tanaman atau karena kotoran burung yang hinggap di atas pohon tersebut. jika hasil tanaman pada satuan percobaan pertama lebih baik daripada satuan percobaan kedua dan ketiga, sementara hasil satuan percobaan kedua dan ketiga tidak berbeda nyata, maka kita akan cenderung menyimpulkan bahwa hasil tanaman yang lebih baik disebabkan karena ada pohon yang dapat mengatur intensitas cahaya. dalam hal ini, kita cenderung menerima pendapat kaum luminist. tetapi, jika hasil satuan percobaan kedua lebih tinggi daripada satuan percobaan pertama dan ketiga, sementara satuan percobaan pertama hasilnya sama dengan satuan percobaan ketiga, maka kita akan cenderung menerima pendapat kaum pecinta burung, yaitu bahwa hasil tanaman yang lebih baik disebabkan karena kotoran burung yang hinggap di atas pohon tersebut. 46 journal the winners, vol. 11 no. 1, maret 2010: 43-54 sampai di sini kita telah menguji dugaan kaum luminist dan kaum pecinta burung dengan melakukan percobaan. tetapi, apakah dengan satu satuan percobaan (satu data) tersebut kita sudah yakin dengan kesimpulan tersebut?. berapa tingkat keyakinan kita untuk menerima atau menolak pendapat kaum luminist atau kaum pecinta burung?. oleh karena itulah, agar percobaan kita dapat diukur tingkat keyakinannya dan dapat dievalusai dengan peluang, maka percobaan tersebut memerlukan ulangan (replication) dan dilakukan dengan proses pengacakan. tabel 1 perbedaan metode survei dan metode percobaan metode survei metode percobaan • peneliti tidak memiliki kendali dalam pengumpulan data, kecuali dalam menentukan faktor yang diamati dan memeriksa ketelitiannya • perubahan yang terjadi pada respons sulit diketahui penyebabnya, karena mungkin disebabkan oleh faktor yang tidak diamati atau bahkan sebenarnya belum diketahui oleh penelitinya, sehingga tidak kuat untuk menerangkan hubungan sebab akibat • telaahnya biasanya bersifat enumeratif yaitu bertujuan untuk menduga nilai agregat populasi • peneliti memiliki keleluasaan untuk melakukan pengawasan terhadap sumber-sumber keragaman data • dapat menciptakan jenis perlakuan yang diinginkan kemudian mengamati perubahanperubahan yang terjadi pada responnya • jadi telaahannya dapat bersifat analitik, yang bertujuan untuk menjelaskan hubungan sebab akibat antar berbagai faktor untuk menjelaskan kelebihan dan kekurangan dari antara percobaan dengan survei dapat diberikan ilustrasi sebagai berikut: “misalkan saja kita ingin melihat apakah ada perbedaan efektivitas antara 2 jenis pengobatan a dan b”. dengan metode percobaan, pasien-pasien yang memenuhi syarat dikelompokkan menjadi 2 grup yang berbeda dengan prosedur pengacakan sehingga masing-masing pasien mendapat kesempatan yang sama untuk menerima salah satu jenis pengobatan. selanjutnya, diusahakan agar supaya lingkungan maupun perawatan yang diterima setiap pasien relatif seragam, kecuali jenis pengobatan yang dijadikan sebagai treatment. apabila kemudian ditemukan ada perbedaan waktu kesembuhannya (dengan analisis yang sesuai), maka terdapat alasan untuk meyimpulkan kesembuhannya dipengaruhi oleh cara pengobatannya. dengan metode survei (observasi), kita hanya mengamati sejumlah pasien yang diberi atau mengakui menerima pengobatan jenis tertentu tanpa usaha-usaha pengawasan selanjutnya. seandainya terdapat perbedaan dalam waktu kesembuhannya, agak sulit untuk menyimpulkan apakah hal ini benar-benar disebabkan oleh perbedaan jenis pengobatan karena mungkin banyak faktor lain yang ikut berperan dalam proses penyembuhan karena dalam metode ini tidak diperhatikan dengan baik. dibandingkan dengan metode survei, pengumpulan data dengan metode percobaan ekonomi mempunyai beberapa kelebihan, di antaranya (1) peneliti mempunyai keleluasaan untuk melakukan pengawasan terhadap lingkungan atau sumber-sumber keragaman data (control), (2) dapat menciptakan jenis perlakuan yang diinginkan, kemudian mengamati perubahan-perubahan yang terjadi pada responnya, (3) telaahannya bersifat analitik, yang bertujuan untuk menjelaskan hubungan sebab akibat berbagai faktor, (4) replicibility, yaitu kemudahan untuk ditiru. hal ini menunjukkan bahwa peneliti lain dapat melakukan kembali percobaan yang sama dan dengan cara yang sama pula dapat menguji temuan-temuan atau kesimpulan yang telah ada. bagaimana percobaan ekonomi dilakukan dapat dijelaskan sebagai berikut. dari kuliah-kuliah ekonomi mikro, kita menyadari bahwa sistem ekonomi mikro merupakan suatu landasan pemahaman kosep ekonomi yang lengkap, sederhana, namun juga memadai untuk memahami fenomena ekonomi dunia nyata yang sangat kompleks. di dalam dunia nyata yang kompleks tersebut, ilmu ekonomi mikro menemukan sekelompok para agen ekonomi (produsen, pedagang, dan konsumen) beserta institusi-institusinya (sistem aturan pertukaran barang dan jasa, di mana melalui institusi ini para agen percobaan ekonomi .....(edy supriyadi) 47 berinteraksi, yaitu para pembeli, pedagang (penjual), dan produsen beroperasi dalam kedaan pasar tertentu. percobaan ekonomi dapat dilaksanakan dengan meniru fenomena ekonomi tersebut dengan merekayasa suatu percobaan, yang terdiri dari para agen dan institusinya serta sistem reward yang dapat memunculkan (meng-induced) karakteristik pelaku ekonomi tertentu sehingga karakteristik bawaannya menjadi tidak relevan. percobaan ekonomi memerlukan seni dan ilmu rekayasa tersendiri agar fenomena ekonomi tersebut dapat ditelaah seperti keadaan dunia nyata (riil). induced value theory digunakan untuk memunculkan karakteristik pelaku ekonomi tertentu sehingga karakteristik bawaannya menjadi tidak relevan. prinsip induce value theory yang digunakan adalah (1) monotonicity, yaitu mempengaruhi subjek penelitian agar lebih menyukai imbalan yang terbesar dan tidak pernah merasa puas akan imbalan yang mereka peroleh. kondisi ini dapat dengan mudah dipenuhi dengan cara memberikan imbalan dalam bentuk uang; (2) salience, yaitu memberikan imbalan kepada subjek penelitian tergantung kepada tindakan mereka (serta pelaku lain) yang sesuai dengan peraturan yang ada (aturan mainnya direkayasa sedemikian rupa imbalan tergantung pada tindakan subjek penelitian); (3) dominance, yaitu adanya dominasi kepentingan subjek penelitian di dalam percobaan, di mana mereka lebih mengutamakan imbalan dan mengabaikan hal-hal lainnya. friedman dan sunder (1994) mengemukakan bahwa percobaan ekonomi dilakukan di dalam lingkungan yang terkontrol sehingga jika terjadi perbedaan respon memang karena disebabkan oleh perbedaan perlakukan (treatment), bukan dari sebab yang lainnya. lingkungan ekonomi yang dimaksud terdiri dari pelaku-pelaku ekonomi beserta aturan-aturan atau institusi sebagai tempat berinteraksi antar pelaku ekonomi. pelaku ekonomi mungkin sebagai pembeli dan penjual, dan institusinya mungkin merupakan tipe pasar tertentu. contoh lain dalam bidang politik, misalnya pemilih sebagai pelaku dan aturan mayoritas sebagai suatu intitusi. metode penelitian bahan yang digunakan adalah produk jeruk, yang terdiri jeruk i dan jeruk ii, di mana harga jeruk i lebih murah dengan harga jeruk ii. sebagai percobaan, dipergunakan dalam penelitian ini adalah data hasil percobaan ekonomi dengan melibatkan 32 orang mahasiswa sebagai pelaku percobaan (experimental unit), yang dibagi dalam 4 kelompok percobaan ekonomi (kombinasi perlakuan). pertama, sebanyak 10 orang dipilih secara ‘acak’ siapa yang menjadi penjual (5 orang) dan siapa yang menjadi pembeli (5 orang), kemudian mereka melakukan simulasi percobaan elconomi dengan aturan sistem ’desentialisasi’ sebanyak 5 kali (periode). perlakuan ini dinotasikan sebagai ppsdt. kedua, sebanyak 10 orang dipilih secara ‘acak’ siapa yang menjadi pembeli (5 orang) dan siapa yang menjadi pembeli (5 orang), kemudian mereka melakukan simulasi percobaan ekonomi dengan aturan sistem double auction sebanyak 5 kali (periode). perlakuan ini dinotasikan sebagai pps-da. ketiga, sebanyak 6 orang dipilih secara acak’ siapa yang menjadi penjual (1 orang) dan siapa yang menjadi pembeli (5 orang), kemudian mereka melakukan simulasi percobaan ekonomi dengan aturan sistem ’desentralisasi’ sebanyak 5 kali (periode). perlakuan ini dinotasikan sebagai mo-dt. keempat, sebanyak 6 orang dipilih secara ‘acak’ siapa yang menjadi penjual (1 orang) dan siapa yang menjadi pembeli (5 orang), kemudian mereka melakukan simulasi percobaan ekonomi dengan aturan sistem double auction sebanyak 5 kali (periode). perlakuan mi dinotasikan sebagai mo-da. dari gambaran perancangan percobaan di atas, dapat dinyatakan bahwa faktor-faktor yang akan dilihat pengaruhnya terhadap respon percobaan adalah (1) jumlah penjual yang terdiri atas 2 taraf, yaitu 5 orang penjual (pps dan 5 orang penjual (mo); (2) sistem transaksi yang terdiri atas taraf, yaitu desentralisasi (dt) dan double auction (da). 48 journal the winners, vol. 11 no. 1, maret 2010: 43-54 masing-masing penjual dari tiap kelompok percobaan ekonomi di atas diberikan unit cost untuk barang yang akan dijualnya. demikian juga, masing-masing pembeli dari tiap kelompok percobaan ekonomi di atas diberikan unit value untuk barang yang akan dibelinya. kumpulan nilai unit cost yang dipegang oleh para penjual di tiap kelompok percobaan akan membentuk suatu kurva penawaran teroritis, dan kumpulan nilai unit value yang dipegang oleh para pembeli di tiap kelompok percobaan akan membentuk suatu kurva permintaan teroritis. kedua kurva teoritis ini dapat dilihat pada gambar 1. jika kondisi pasar persaingan sempurna, maka respon harga keseimbangan teoritis (hkt) akan dicapai pada harga rp 550, dan jumlah transaksi (q) sebanyak 7 atau 8 barang. dalam percobaan ini, akan dikaji bagaimana repon atau karateristik dari 6 kelompok percobaan (kombinasi perlakuan) tersebut. jalannnya percobaan percobaan yang dilakukan oleh kelompok mahasiswa s3 jurusan pwd tahun 2003/2004 telah dilaksanakan pada tanggal 6 april 2004, bertempat di fakultas ekonomi, universitas ibnu khaldun sesuai dengan instruksi percobaan dalam lampiran 1 dan lampiran 2. subjek penelitian menggunakan 32 responden sebagai pelaku percobaan. pelaksanaan percobaan adalah sebagai berikut. pertama, percobaan untuk pasar persaingan sempurna dan double auction, yaitu (1) peserta yang terdiri dari 5 penjual dan 5 pembeli setelah menempati tempat duduknya masing-masing di dalam ruangan kelas (penjual dan pembeli dalam ruangan yang sama), dipersilahkan membaca dan memahami lembar instruksi percobaan yang diberikan oleh peneliti, masing-masing pembeli dan penjual diberi nomor identitas; (2) peneliti atau yang membantu penelitian menjelaskan instruksi percobaan kepada peserta, hal-hal yang tidak dimengerti oleh peserta harus ditanyakan langsung kepada peneliti atau yang membantu penelitian; (3) penjual mengisi unit cost dan pembeli mengisi unit value sesuai jenis barang yang akan ditawarkan. dalam hal ini adalah 2 buah jeruk (jeruk i dan jeruk ii) pada lampiran yang telah disediakan dengan dibantu oleh peneliti, dengan dipandu oleh peneliti; (4) penjual dipersilahkan membuka percobaan dengan cara mengisi besar harga tawaran pada lembar keputusan penjual (lampiran 1), begitu juga pembeli; (5) penjual pertama dipersilahkan untuk menawarkan harga barang yang sedang ditawarkan (barang i atau ii) sesuai dengan aturan percobaan; (6) proses transaksi dimulai, para pembeli dipersilahkan untuk membeli sebuah unit barang (apabila ia ingin membeli unit barang), dengan cara mengangkat tangan dan menyebutkan harga penawaran yang diinginkan. dalam hal ini, pembeli yang mengangkat tangan terlebih dahulu mendapat kesempatan, selanjutnya pembeli berikutnya hingga transaksi terjadi atau sampai pada pembeli terakhir; (7) jika tidak terjadi transaksi, maka dilanjutkan dengan penawaran penjual kedua dan seterusnya hingga penjual kelima lalu kembali ke langkah 6; (8) setiap terjadi transaksi harga, maka pembeli dan penjual harus menulis pada lampiran harga transaski tersebut; (9) terakhir, penjual dan pembeli dipersilahkan menghitung pendapatannya masing-masing dalam periode tersebut, yaitu dengan mengisi/menghitung besar keuntungan yang diperoleh pada setiap transaksi. kedua, percobaan untuk pasar persaingan sempurna dan disentralisasi, yaitu (1) peserta yang terdiri dari 5 penjual dan 5 pembeli setelah menempati tempat duduknya masing-masing di dalam ruangan kelas (penjual dan pembeli dalam ruangan yang terpisah atau ada pembatas antara kelompok pembeli dan kelompokn penjual), dipersilahkan membaca dan memahami lembar instruksi percobaan yang diberikan oleh peneliti. masing-masing pembeli dan penjual diberi nomor identitas; (2) peneliti atau yang membantu penelitian menjelaskan instruksi percobaan kepada peserta. hal-hal yang tidak dimengerti oleh peserta harus ditanyakan langsung kepada peneliti atau yang membantu penelitian; (3) penjual mengisi unit cost dan pembeli mengisi unit value sesuai jenis barang yang akan ditawarkan. dalam hal ini adalah 2 buah jeruk (jeruk i dan jeruk ii) pada lampiran yang telah disediakan, dengan dibantu dan dipandu oleh peneliti; (4) penjual dipersilahkan membuka percobaan dengan cara mengisi besar harga tawaran pada lembar keputusan penjual (lampiran 1), begitu juga pembeli; (5) penjual percobaan ekonomi .....(edy supriyadi) 49 pertama atau penjual dan dipersilahkan untuk menawarkan harga barang yang sedang ditawarkan (barang i atau ii ) sesuai dengan aturan percobaan; dan (6) proses transaksi dimulai dengan penjual pertama atau penjual-n/berikutnya mendatangi para pembeli dengan menawarkan barang (i atau ii tergantung proses percobaan) dimulai dengan pembeli i. selanjutnya akan terjadi tawar menawar harga barang. jika terjadi transaksi, maka proses percobaan yang sedang dijalankan selesai. tetapi, jika tidak terjadi transaksi, maka pembeli i akan mendatangi pembeli ke ii dan proses berlanjut hingga pembeli kelima; (7) selanjutnya, penjual dan pembeli menyalin harga transaksi jika terjadi transaksi pada lembar lampiran yang disediakan; (8) selanjutnya, dilanjutkan dengan penjual kedua atau penjual ke-(n+1) dengan proses sesuai dengan langkah 5, dilakukan sampai pada penjual kelima atau penjual terakhir dengan 2 barang, dalam hal ini jeruk i dan ii dengan 5 kali / periode percobaan; (9) terakhir, penjual dan pembeli dipersilahkan menghitung pendapatannya masing-masing dalam periode tersebut, yaitu dengan mengisi/menghitung besar keuntungan yang diperoleh pada setiap transaksi. ketiga, percobaan untuk pasar monopoli dan double auction, yaitu (1) peserta yang terdiri dari 1 penjual dan 5 pembeli setelah menempati tempat duduknya masing-masing di dalam ruangan kelas (penjual dan pembeli dalam ruangan yang sama), dipersilahkan membaca dan memahami lembar instruksi percobaan yang diberikan oleh peneliti, masing-masing pembeli dan penjual diberi nomor identitas; (2) peneliti atau yang membantu penelitian menjelaskan instruksi percobaan kepada peserta. hal-hal yang tidak dimengerti oleh peserta harus ditanyakan langsung kepada peneliti atau yang membantu penelitian; (3) penjual mengisi unit cost dan pembeli mengisi unit value sesuai jenis barang yang akan ditawarkan, dalam hal ini adalah 2 buah jeruk (jeruk i dan jeruk ii) pada lampiran yang telah disediakan, dengan dibantu dan dipandu oleh peneliti; (4) penjual dipersilahkan membuka percobaan dengan cara mengisi besar harga tawaran pada lembar keputusan penjual (lampiran 1), begitu juga pembeli; (5) penjual dipersilahkan untuk menawarkan harga barang yang sedang ditawarkan (barang i atau ii ) sesuai dengan aturan percobaan; (6) proses transaksi dimulai, para pembeli dipersilahkan untuk membeli sebuah unit barang (apabila ia ingin membeli unit barang), dengan cara mengangkat tangan dan menyebutkan harga penawaran yang diinginkan, dalam hal ini pembeli yang mengangkat tangan terlebih dahulu mendapat kesempatan, dan selanjutnya pembeli berikutnya hingga transaksi terjadi atau sampai pada pembeli terakhir; (7) jika tidak terjadi transaksi, maka dilanjutkan dengan penawaran barang berikutnya (barang ii ) atau periode berikutnya (hingga periode kelima), lalu kembali ke langkah 6; (8) setiap terjadi transaksi harga, maka pembeli dan penjual harus menulis pada lampiran harga transaksi tersebut; dan (9) terakhir, penjual dan pembeli dipersilahkan menghitung pendapatannya masing-masing dalam periode tersebut, yaitu dengan mengisi/menghitung besar keuntungan yang diperoleh pada setiap transaksi. keempat, percobaan untuk pasar monopoli dan disentralisasi, yaitu (1) peserta yang terdiri dari 1 penjual dan 5 pembeli setelah menempati tempat duduknya masing-masing di dalam ruangan kelas (penjual dan pembeli dalam ruangan yang terpisah atau ada pembatas antara kelompok pembeli dan penjual), dipersilahkan membaca dan memahami lembar instruksi percobaan yang diberikan oleh peneliti, masing-masing pembeli dan penjual diberi nomor identitas; (2) peneliti atau yang membantu penelitian menjelaskan instruksi percobaan kepada peserta, hal-hal yang tidak dimengerti oleh peserta harus ditanyakan langsung kepada peneliti atau yang membantu penelitian; (3) penjual mengisi unit cost dan pembeli mengisi unit value sesuai jenis barang yang akan ditawarkan, dalam hal ini adalah 2 buah jeruk (jeruk i dan jeruk ii) pada lampiran yang telah disediakan, dengan dibantu dan dipandu oleh peneliti; (4) penjual dipersilahkan membuka percobaan dengan cara mengisi besar harga tawaran pada lembar keputusan penjual (lampiran 1), begitu juga pembeli; (5) penjual dipersilahkan untuk menawarkan harga barang yang sedang ditawarkan (barang i atau ii ) sesuai dengan aturan percobaan; (6) proses transaksi dimulai dengan penjual mendatangi para pembeli dengan menawarkan barang (i atau ii tergantung proses percobaan) dimulai dengan pembeli i, selanjutnya akan terjadi tawar menawar harga barang. jika terjadi transaksi, maka proses percobaan yang sedang dijalankan selesai. tetapi, jika tidak terjadi transaksi, maka penjual akan mendatangi pembeli ke ii dan proses berlanjut hingga pembeli-5; (7) selanjutnya, penjual dan pembeli menyalin harga transaksi jika terjadi transaksi pada lembar lampiran yang disediakan; (8) selanjutnya, dilanjutkan dengan penjual dengan proses 50 journal the winners, vol. 11 no. 1, maret 2010: 43-54 sesuai dengan langkah 5, barang berikutnya dengan periode percobaan atau 5 periode; (9) terakhir, penjual dan pembeli dipersilahkan menghitung pendapatannya masing-masing dalam periode tersebut, yaitu dengan mengisi/menghitung besar keuntungan yang diperoleh pada setiap transaksi; (10) selanjutnya, pada lembar keputusan pembeli dan penjual juga ditambahkan pertanyaan untuk mengevaluasi pertimbangan yang digunakan peserta dalam melakukan transakasi. penggunaan uang sebagai imbalan akan dibayarkan berdasarkan total pendapatan yang diperoleh pada setiap periode yang akan dibayarkan setelah percobaan berakhir. konsep dan definisi beberapa konsep dan definisi untuk mengukur performance pasar adalah (1) unit value, yaitu nilai suatu barang terbagi menjadi dua, yaitu unit value penjual dan unit value pembeli; (2) contract price, yaitu harga yang disepakati oleh penjual dan pembeli di pasar simulasi; (3) total surplus penjual (tss) merupakan total dari kelebihan penerimaan penjual, yang di sebelah bahwa dibatasi oleh kurva penewaran dan di sebelah atas dibatasi oleh contract price. dalam hal ini, surplus penjual (ss) dihitung dengan cara harga tawaran – nilai unit penjual; (4) total surplus pembeli (tsb), merupakan total dari kelebihan penerimaan untuk pembeli, yang di sebelah bawah dibatasi oleh contract price dan disebelah atas dibatasi oleh kurva permintaan. dalam hal ini, surplus pembeli (sb) dihitung dengan cara nilai unit pembeli – harga pembelian; (5) efisien pasar (ef) menunjukkan seberapa besar profit yang dapat diserap oleh pembeli maupun penjual selama proses tarnsaksi dari total maksimum yang mungkin dihitung dengan rumus: ef = {(tss+tsb)/pm}*100% di mana tss = total surplus penjual; tsb=total surplus pembeli; pm = profit maksimum kendala di dalam pelaksanaan percobaan dalam pelaksanaan percobaan ditemukan kendala, antara lain mencari personal untuk dijadikan pelaku percobaan; personal pelaku percobaan harus yang sudah mengerti tentang jenis-jenis pasar; jika personal sudah menjadi pelaku percobaan satu pasar, maka tidak dapat menjadi pelaku percobaan pasar yang lain karena akan menghasilkan data yang bias; menentukan insentif untuk pelaku percobaan; pelaku percobaan tidak seluruhnya mengerti apa yang diintruksikan oleh peneliti sehingga pada saat dilakukan rekapitulasi berapa keuntungan yang diperoleh masing-masing pelaku percobaan, masih ada yang hasilnya salah; jumlah pelaku percobaan harus sesuai dengan kebutuhan tipe pasar yang diteliti; peneliti tidak seluruhnya memahami dengan baik tugasnya masing-masing; dan tenaga peneliti dalam pelaksanaan kurang. hasil dan pembahasan hasil percobaan yang akan disajikan dalam makalah ini hanya untuk variable contract price dan jumlah transasksi. tabel 2 beberapa respon dari pengaruh 4 kombinasi sistem transaksi pasar pasar persaingan sempurna 5 penjual 5 pembeli pasar monopoli 1 penjual – 5 pembeli dt da dt da hkt 550 550 550 550 pe 582.43 602.50 747.5 672.50 q 6 8 6 9 2 2 ef 87.30 % 97.27 % 64.00 % 99.00 % sk 43.32 % 37.84 % 13.37 % 23.76 % sp 56.68 % 62.16 % 86.63 % 76.24 % cv 10.74 % 16.82 % 17.66 % 8.30 % percobaan ekonomi .....(edy supriyadi) 51 hkt : harga keseimbangan teoritis pe : rataan kontrak price q : harga keseimbangan empiris (rataan contract price) ef : rataan efisiensi sk : rataan surplus pembeli sp : rataan surplus penjual cv : rataan koefisien keragam antara pps-dt dan pps-da pada tabel 2, pada pasar pesaingan sempurna mempunyai rata-rata contract price selama 5 periode percobaan sebesar 582.5. nilai ini lebih kecil dibandingkan dengan rata-rata contract price pada pasar persaingan double auction sebesar 602.50, di mana yang paling mendekati nilai prediksi pasar persaingan sempurna adalah percobaan pada pasar peresaingan sempurna dengan sistem 52 journal the winners, vol. 11 no. 1, maret 2010: 43-54 transaksi disentralisasi. sedangkan nilai keragaman yang paling kecil adalah pada pasar peesaingan dengan disentralisasi, tetapi tingkat efisiensi transaksi lebih efisien pada pasar peresaingan double auction dibandingkan dengan pasar persaingan sempurna dan disentralisasi. jumlah yang terjual relatif sama antara kedua macam tipe transaksi di dalam pasar persaingan sempurna. besarnya kelebihan keuntungan sp dan sk tampak pps-da lebih besar dibandingkan dengan pps-dt. gambar 1 menyajikan pergerakan rataan contract price. contract price pasar persaingan sempurna dengan desentralisasi, nilai contract price pada periode pertama masih rendah karena dalam percobaan penjual masih berani melepas walaupun mendapatkan keuntungan yang kecil. pada periode berikutnya, penjual ingin mendapatkan keuntungan yang lebih besar sehingga nilai contract price cenderung naik tajam, selanjutnya nilai cenderung menurun walapun masih di atas periode pertama. sedangkan contract price pada pps-da periode pertama, nilai contract price bernilai tinggi karena penjual banyak alternatif atau pilihan menawarkan barangnya kepada pembeli lainnya, tetapi periode berikutnya nilai contract price menurun sampai pada priode tiga dan periode selanjutnya nilai contract price meningkat kembali. antara mo-dt dan mo-da rata-rata contract price selama 5 periode menunjukkan bahwa rata-rata nilai contract price pasar monopoli dengan disentralisasi sebesar 747.5 lebih besar dari rata-rata nilai contract price pasar monopli, dengan nilai sebesar 672.5. jumlah barang yang terjual sama dengan jumlah 2 unit antara kedua tipe transaksi dengan pasar monopoli. tingkat efisiensi, besarnya surplus konsumen dan produsen pada tipe transaksi disentralisasi dalam pasar monopoli berturut-turut adalah 99%, 23.76%, dan 76.24% lebih besar dibandingkan dengan tipe transaksi double auction di dalam pasar monopoli. sedangkan tingkat keragaman nilai contract price tipe transaksi double auction dengan nilai 8.30% lebih kecil dibandingkan dengan tipe transaksi disentralisasi pada pasar monopoli dengan nilai 17.66%. pada gambar 2, grafik pergerakan contract price tipe transaksi disentralisasi dan double auction pada pasar monopoli, terlihat bahwa tipe transaksi double auction pada pasar monopoli mempunyai kecenderungan bahwa nilai contract price mendatar dari periode-1 sampai pada periode5, sedangkan tipe transaksi disentralisasi pada pasar monopoli pada permulaan periode-1 dan periode2 tidak ada perubahan mulai priode-3, selanjutnya menunjukkan kenaikan nilai contract price, dan pada akhir periode terjadi penurunan walaupun masih di atas periode-2. tabel 3 analisis variance dua faktor tipe pasar (pps dan mo) dengan tipe transaksi (dt dan da) source df ss ms f sig. intercept 1 699411.510 14.933 14.933 .000 tipe pasar 1 50958.551 5954.632 5954.632 .000 tipe transaksi 1 9701.132 34.680 34.880 .020 tipe pasar * transaksi 1 4790.132 6.640 6.640 .089 error 16 23375.180 3.279 3.279 total 20 8788236.744 hasil pengolahan tabel 3 mengenai analisis variance dapat dijelaskan bahwa dapat perbedaaan yang nyata antara nilai contract price pps (pasar persaingan sempurna) dengan mo (pasar monopoli) dengan significant 0.00 di bawah 0.005. begitu juga nilai contract price tipe transaksi, yaitu disentralisasi dengan double auction terdapat perbedaan yang significant pada tingkat 0.00 atas di bawah 0.005. sedangkan interaksi antara tipe pasar dengan tipe transaksi tidak dapat perbedaan yang nyata pada tingkat significant .089 atau di atas 0.05. percobaan ekonomi .....(edy supriyadi) 53 simpulan dari hasil penelitian, dapat disimpulkan bahwa (1) rata-rata contract price (cp) selama 5 periode percobaan, terdapat bahwa nilai cp pada pasar persaingan sempurna lebih kecil dibandingkan dengann pasar monopoli; (2) tingkat efisiensi antar tipe transaksi terlihat bahwa tipe transaksi double auction lebih efisien dibandingkan dengan tipe transaksi disentralisasi; (3) terdapat perbedaan yang nyata nilai cp antara tipe transaksi, yaitu disentralisasi dengan double auction; (4) terdapat perbedaan yang nyata nilai cp antara tipe pasar, yaitu pasar persaingan sempurna dengan pasar monopoli; (5) jika percobaan ekonomi ini terus disempurnakan dan dikembangkan, maka tidak mustahil di masa mendatang akan memberikan kontribusi positif pembuktian teori-teori ekonomi dengan harga murah. dengan demikian, percobaan ekonomi akan dapat memberikan sumbangan yang positif dalam peningkatan kesejahteraan manusia, sama dengan ilmu-ilmu eksperimental seperti kedokteran, pertanian, dan teknik yang sudah jelas memberikan manfaat banyak untuk kesejahteraan manusia. dengan percobaan ekonomi, suatu saat kelak, ilmu ekonomi akan dapat mengantarkan manusia untuk pengambilan keputusan sebelum kegiatan tersebut dapat diterapkan pada keadaan yang sebenarnya. peneliti memberikan saran berdasarkan temuan di lapangan sebagai berikut (1) mencari personal yang benar-benar siap untuk dijadikan pelaku percobaan; (2) personal pelaku percobaan harus yang sudah mengerti tentang percobaan ekonomi apa yang akan dilakukan; (3) pelaku percobaan sebaiknya betul-betul memahami dan terlibat sehari-sehari, baik secara teori atau praktek tentang maksud percobaan dilakukan; (4) diberikan imbalan yang jelas untuk pelaku percobaan; (5) peneliti harus memahami dengan baik tugasnya masing-masing; dan (6) tenaga peneliti dalam pelaksanaan cukup untuk melakukan percobaan. daftar pustaka brandts, j., and charles, a.h. (1999). an experimental test of equilibrium dominance in signaling games, forthcoming in american economic review. cadsby, c.b., frank, m., and maksimovic, v. (1992). equilibrium dominance in experimental financial markets, working paper, university of guelph. davis, d.d., and holt, c.a. (1993). experimental economics, new jersey: princeton university press. douglas d.d. antarctic atmospheric chemistry, publisher elsevier. douglas d.d., and mitchell, s.k. (1997). experimental economics: an introduction for applications to international trade, ohio, ohio state university: publisher dept. of agricultural economics. douglas d.d., and holt, c.a. (1993). experimental economics, united kingdom: princeton university press published. friedman, d., and sunder, s. (1994). experimental methods, new york: cambridge university press. hey, j.d. (1991). experiments in economics, usa: blakcwell oxford uk & cambridge. kagel, j.h., and roth, a.e. (1995). introduction, di dalam “the handbook experimental economics”, new jersey: princeton university press. 54 journal the winners, vol. 11 no. 1, maret 2010: 43-54 juanda, b. (2000). percobaan ekonomi untuk mengkaji pengaruh informasi serta jumlah penjual dan pembeli dalam transaksi pasar, bogor: fakultas mipa institut pertanian bogor. miller, r.m., and charles r.p. (1985). product quality signaling in experimental marklets. nelson, p. (1990). information and consumer behavior. journal of political economy. spence, a.m. (1984). market signaling: informational transfer in hiring and related screening process, cambridge: harvard university press. microsoft word 02_ muhajir_settting.doc 100 journal the winners, vol. 10 no. 2, september 2009: 100-108 pengaruh pelayanan dan asosiasi merek terhadap kepercayaan pelanggan bengkel kendaraan bermotor dan dampaknya terhadap preferensi rekomendasi muhadjir1; febri rahmawati2 1peneliti pada balai besar riset sosial ekonomi kelautan dan perikanan 2mahasiswa universitas bina nusantara muhadjir_nasir@yahoo.com abstract the number of motorcycles being sold in indonesia keeps increasing every year. every manufacturer should stand firm on negotiating to what extent service and brand name impact to consumer trust and recommendation preference. this research aims to investigate this issue using path analysis. sample is taken from community of car garage consumers. then, data is verified by some statistical tools such as normality, validity and reliability before using path analysis. the research findings confirm that service quality, brand association and consumer trust are very important to attract trust over garage service. concerning this issue, the researcher contributes some suggestions such as management should increase service quality by doing employee professionalism improvement. for doing this, the firm can exploit on employee training; implementing incentive strategy to motivate employees, exposing openness and positive atmosphere to interact with consumers and the last but not the least, to maintain good relationship for short and long term by providing consumers with a forum-based communication media. keywords: service, car garage, recommendation preferences abstrak jumlah sepeda motor yang dijual di indonesia terus meningkat setiap tahun. setiap produsen harus konsisten terhadap sejauh mana pelayanan dan dampak merek untuk kepercayaan konsumen dan preferensi rekomendasi. penelitian ini bertujuan untuk menyelidiki masalah ini dengan menggunakan analisis jalur. sampel diambil dari masyarakat konsumen bengkel mobil. kemudian, data diverifikasi oleh beberapa alat statistik seperti normalitas, validitas, dan reliabilitas sebelum menggunakan analisis jalur. hasil penelitian mengkonfirmasi bahwa kualitas pelayanan, asosiasi merek, dan kepercayaan konsumen sangat penting untuk menarik kepercayaan lebih daripada pelayanan bengkel. mengenai masalah ini, peneliti memberikan kontribusi beberapa saran seperti manajemen harus meningkatkan kualitas pelayanan dengan melakukan peningkatan profesionalisme karyawan. untuk melakukan hal ini, perusahaan dapat memanfaatkan pelatihan karyawan; menerapkan strategi insentif untuk memotivasi karyawan; memperlihatkan keterbukaan dan suasana yang positif untuk berinteraksi dengan konsumen dan yang terakhir namun bukan yang tidak penting, untuk menjaga hubungan baik untuk jangka pendek dan panjang, dengan menyediakan media komunikasi berbasis forum untuk konsumen. kata kunci: pelayanan, garasi mobil, preferensi rekomendasi pengaruh pelayanan dan asosiasi .....( muhadjir; febri rahmawati) 101 pendahuluan sejalan dengan terus bertambahnya jumlah kendaraan bermotor roda dua di jalan kota jakarta, keberadaan bengkel sebagai penjual jasa perawatan dan perbaikan kendaraan bermotor roda dua juga terus meningkat sehingga berakibat pada semakin ketatnya persaingan dalam industri jasa perbengkelan kendaraan roda dua. untuk dapat bertahan dalam industri ini, sebuah bengkel yang memberikan jasa perawatan dan perbaikan kendaraan bermotor dituntut untuk memberikan layanan terbaik bagi pelanggannya, agar pelanggannya puas dan memberikan kepercayaan kepada bengkelnya untuk merawat kendaraannya. masalahnya adalah pelayanan seperti apa yang “terbaik” di mata pelanggan sehingga pelanggan puas dan mempercayakan perawatan kendaraan bermotornya kepada suatu bengkel. jika suatu bengkel telah dipercaya oleh pelanggannya, akan memungkinkan bagi si pelanggan bengkel tersebut untuk merekomendasikan kepada orang-orang terdekatnya atau menceritakan hal-hal yang positif mengenai bengkel tersebut. untuk itu, perlu dilakukan kajian yang meneliti pengaruh kualitas pelayanan terhadap kepercayaan konsumen. mengingat objek penelitian adalah pelanggan sebuah jaringan bengkel kendaraan bermotor roda dua yang sangat dikenal oleh masyarakat indonesia, maka asosiasi merek digunakan juga sebagai faktor pengaruh sehingga secara lengkap tulisan ini diberi judul ”analisis pengaruh pelayanan dan asosiasi merek terhadap kepercayaan pelanggan bengkel kendaraan bermotor dan dampaknya terhadap preferensi rekomendasi”. wykof (dalam arief, 2006) menyatakan bahwa kualitas pelayanan adalah tingkat keunggulan yang diharapkan dan pengendalian atas tingkat keunggulan tersebut untuk memenuhi keinginan pelanggan. definisi kualitas pelayanan berpusat pada upaya pemenuhan kebutuhan dan keinginan pelanggan serta penyampaiannya untuk mengimbangi harapan pelanggan (simamora, 2003). lovelock (dalam utami, 2006) mendefinisikan kualitas layanan sebagai perspektif konsumen dalam jangka panjang dan merupakan evaluasi kognitif dari transfer jasa. kualitas layanan digambarkan secara umum dan menyeluruh dalam jasa. bahkan, dikemukakan bahwa kualitas layanan dijelaskan sebagai konsepsi multidimensional yang dibangun melalui evaluasi terhadap kontruksi dari sejumlah atribut yang terkait dengan jasa. dalam perspektif kualitas jasa, davin garvin (dalam yatmin, 2004), mengemukakan 8 dimensi kualitas jasa yang dapat dirincikan sebagai berikut (1) performance (kinerja), yaitu kesesuaian produk dengan fungsi utama produk itu sendiri atau karakteristik operasi dari suatu produk; (2) feature, yaitu ciri khas produk yang membedakan dari produk lain yang merupakan karakteristik pelengkap dan mampu menimbulkan kesan yang baik bagi pelanggan; (3) reliability (kehandalan), yaitu kepercayaan pelanggan terhadap produk karena keandalannya atau karena kemungkinan kerusakan yang rendah; (4) conformance (kesesuaian), yaitu kesesuaian produk dengan syarat atau ukuran tertentu atau sejauh mana karakteristik desain dan operasi memenuhi standar yang telah ditetapkan; (5) durability (daya tahan), yaitu tingkat ketahanan atau berapa lama produk dapat terus digunakan; (6) service ability, meliputi kecepatan, kompetensi, kenyamanan, kemudahan dalam pemeliharaan, dan penanganan keluhan yang memuaskan; (7) estetika, yaitu keindahan menyangkut corak, rasa, dan daya tarik produk; dan (8) perceived, yaitu fanatisme konsumen menyangkut citra dan reputasi produk serta tanggung jawab perusahaan terhadapnya. sedangkan menurut umar (2002:38), ada 5 dimensi penentu kualitas jasa, yaitu (1) tangibles (bukti fisik), merupakan tampilan fisik dari fasilitas, personalia, dan materi komunikasinya; (2) reability (kepastian), merupakan kemampuan untuk mewujudkan layanan yang dijanjikan dapat diandalkan dan dilaksanakan secara akurat; (3) responsibility (daya tahan), merupakan kemauan untuk membantu dan menyediakan jasa yang tepat bagi konsumen; (4) assurance (keandalan), merupakan pengetahuan dan keramahan pegawai serta kemampuan untuk merebut kepercayaan dan keyakinan konsumen; dan (5) emphaty (empati), merupakan kepedulian dan perhatian per individu yang 102 journal the winners, vol. 10 no. 2, september 2009: 100-108 diterapkan badan usaha dalam menghadapi konsumennya. dikaitkan dengan karakteristik produk jasa yang menjadi objek penelitian, parameter-parameter yang digunakan pada variabel jasa dalam penelitian ini adalah keberwujudan, keandalan, daya tangkap, jaminan, dan empati. durianto, sugiarto, dan sitinjak (2004) mengemukakan bahwa asosiasi merek adalah segala kesan yang muncul dalam benak seseorang yang terkait dengan ingatannya mengenai suatu merek. menurut tjiptono (2005), asosiasi merek merupakan segala sesuatu yang terkait dengan memori terhadap suatu merek. asosiasi merek berkaitan erat dengan image merek (brand image), yang didefinisikan sebagai serangkaian asosiasi merek dengan makna tertentu. asosiasi merek memiliki kekuatan dan akan semakin kuat seiring dengan bertambahnya pengalaman konsumsi dengan merek spesifik. lebih jauh, aaker (dalam rangkuti, 2004) mengemukakan bahwa asosiasi merek dapat menciptakan suatu nilai bagi perusahaan dan para pelanggan karena ia dapat membantu proses penyusunan informasi untuk membedakan merek yang satu dari merek yang lain. beberapa keuntungan asosiasi merek adalah dapat membantu proses penyusunan informasi, perbedaan, alasan untuk membeli, dan penciptaan sikap atau perasaan positif landasan untuk perluasan. menurut aaeker (dalam simamora, 2002), sumber-sumber asosiasi yang terkait dengan suatu merek, yaitu (1) atribut produk (mengasosiasikan atribut atau karakteristik suatu produk merupakan strategi positioning yang sering digunakan. mengembangkan asosiasi semacam ini efektif karena jika atribut bermakna, maka asosiasi didapat; (2) atribut tak berwujud (merupakan atribut umum seperti halnya persepsi kualitas, kemajuan teknologi, atau kesan nilai yang mengikhtisarkan serangkaian atribut yang objektif; (3) manfaat produk bagi pelanggan (karena sebagian besar atribut produk memberikan manfaat bagi pelanggan, maka biasanya terdapat hubungan antara keduanya. artinya, jika mau membuat asosiasi manfaat, maka mau tidak mau perusahaan juga harus membuat asosiasi atribut sebagai alasannya. yang ditonjolkan produsen sebenarnya adalah asosiasi manfaat sebab atribut yang dijadikan sebagai alasan seringkali tidak dipahami masyarakat umum; (4) harga relatif (evaluasi terhadap suatu merek di sebagian kelas produk ini akan diawali dengan penentuan posisi merek tersebut dalam satu atau 2 tingkat harga. sudah jelas bahwa harga yang dijadikan sebagai sumber asosiasi adalah harga rendah atau harga yang terjangkau. pengguna ”harga terjangkau” sebagai sumber asosiasi akan bermanfaat bila pasar sasaran yang dibidik sensitif terhadap harga dan selisih harga yang ditawarkan cukup berarti bagi konsumen; (5) penggunaan (pendekatan ini adalah dengan mengasosiasikan merek tersebut dengan suatu pengguna atau aplikasi tertentu. ”saat apa produk digunakan” dapat dipakai menjadi sumber asosiasi produk; (6) pengguna/pelanggan (pendekatan ini adalah dengan mengasosiasikan merek tersebut dengan suatu penggunaan atau aplikasi tertentu. ”saat apa produk digunakan” dapat dipakai menjadi sumber asosiasi produk; (7) orang terkenal/khalayak (mengaitkan orang terkenal atau artis dengan sebuah merek dapat mentransfer asosiasi kuat yang dimiliki oleh orang terkenal ke merek tersebut. ruginya, kalau citra orang itu rusak, maka citra merek juga bisa turun; (8) gaya hidup/kepribadian (asosiasi sebuah merek dengan suatu gaya hidup dapat diilhami oleh asosiasi para pelanggan merek tersebut dengan aneka kepribadian dan karakteristik gaya hidup yang hampir sama; (9) kelas sosial (mengasosiasikan sebuah merek menurut kelas produknya akan lebih berhasil apabila merek tersebut merupakan merek pertama pada kategori produk yang bersangkutan; (10) para pesaing (mengetahui pesaing dan berusaha untuk menyamai atau bahkan mengungguli pesaing dapat dijadikan sebagi sumber asosiasi; dan (11) negara/area geografis (sebuah negara dapat menjadi simbol yang kuat asalkan memiliki hubungan yang erat dengan produk, bahkan kemampuan syarat yang harus dipenuhi untuk menggunakan suatu negara atau wilayah sebagai sumber asosiasi adalah tempat-tempat yang dijadikan sumber asosiasi harus memiliki citra positif tentang produk yang diiklankan. asosiasi merek (brand assosiation) merupakan salah satu elemen pembentuk ekuitas merek (brand equity) di samping elemen-elemen lainnya (brand awarness, perceived quality, dan brand loyalty). kepercayaan (trust) melibatkan kesediaan seseorang untuk bertingkah laku tertentu karena keyakinan bahwa mitranya akan memberikan apa yang ia harapkan dan suatu harapan yang umumnya dimiliki seseorang bahwa kata, janji, atau pernyataan orang lain yang dapat dipercaya. kepercayaan pengaruh pelayanan dan asosiasi .....( muhadjir; febri rahmawati) 103 merupakan persepsi terhadap keandalan dari sudut pandang pelanggan yang didasarkan pada pengalaman, atau mengarah pada tahapan transaksi atau interaksi yang didirikan oleh terpenuhinya harapan kinerja produk dan tercapainya kepuasan. kepercayaan terbentuk dari kepuasan pelanggan yang kemudian menjadi indikasi awal terbentuknya kesetiaan pelanggan (ferrina dewi, 2004). sedangkan irawan (2002) mendefinisikan kepuasan konsumen sebagai hasil akumulasi dari konsumen/pelanggan dalam menggunakan produk dan jasa. oleh karena itu, setiap transaksi akan memberikan pengaruh terhadap kepuasan konsumen karena kepuasan konsumen mempunyai dimensi waktu karena hasil akumulasi. kepuasan pelanggan merupakan kunci bagi retensi pelanggan terhadap produk pesaing. kotler (2000) mengemukakan bahwa pelanggan yang puas akan tetap setia lebih lama, membeli lebih banyak ketika perusahaan memperkenalkan produk baru dan memperbaharui produk-produk yang ada, membicarakan hal-hal yang baik tentang perusahaan dan produk-produknya, memberi perhatian yang lebih sedikit kepada merek-merek dan iklan-iklan pesaing serta kurang peka terhadap harga, menawarkan gagasan jasa atau produk kepada perusahaan, dan biaya untuk pelayanan lebih kecil dibandingkan pelanggan baru karena transaksi yang sudah rutin. wicaksono dan ihalauw (2005) dalam tulisan yang berjudul ”pengaruh persepsi kualitas layanan terhadap kepuasan dan dampaknya pada preferensi rekomendasi”, menuliskan preferensi rekomendasi merupakan suatu sikap dari konsumen yang bersedia memberikan rekomendasi terhadap produk dan jasa yang pernah dinikmatinya kepada orang lain. lebih lanjut diketahui beberapa indikator preferensi rekomendasi, yakni (1) pelanggan bersedia memberikan rekomendasi positif mengenai jasa yang telah dikonsumsi, (2) pelanggan mendorong keluarga/teman untuk menggunakan jasa yang telah dikonsumsi, (3) pelanggan akan menceritakan hal-hal positif mengenai jasa yang telah dikonsumsi, dan (4) konsumen hanya akan selalu merekomendasikan penyedia jasa tertentu kepada keluarga/teman. metode penelitian penelitian ini bertujuan untuk menganalisis pengaruh kualitas layanan dan asosiasi merek terhadap kepercayaan konsumen dan dampaknya pada preferensi rekomendasi terhadap bengkel kendaraan bermotor roda dua. kualitas layanan dalam penelitian ini diukur dengan dimensi karakteristik pelayanan, yaitu keberwujudan, kehandalan, daya tanggap, jaminan, dan empati. desain penelitian ini adalah desain penelitian asosiatif, yaitu penelitian yang bertujuan untuk mengetahui hubungan antar 2 variabel atau lebih. metode penelitian yang digunakan adalah metode survei, dengan mempelajari data dari sampel yang diambil dari populasi. jenis data yang digunakan dalam penelitian ini adalah jenis data kuantitatif, maupun kualitatif dengan sumber data primer yang diambil dari pelanggan terpilih (responden) melalui survei dan data sekunder yang didapat melalui berbagai media melalui studi pustaka. pengambilan sampel responden menggunakan pendekatan probability random sampling, di mana setiap individu dalam suatu populasi memiliki peluang yang sama untuk diambil sebagai responden dan tekhnik yang akan digunakan adalah simple random sampling, dengan mengambil secara acak dari populasi yang ada. pengambilan sampel responden menggunakan rumus taro yamane/slovin. dengan tingkat kepercayaan sebesar 95%, tingkat presisi 10%, dan jumlah populasi (pelanggan) sebanyak ± 1500 orang, didapat jumlah responden sebanyak 110 orang. data yang diperoleh akan diolah dengan menggunakan spss (statistical program for social science) versi 16.0, dengan metode analisis yang digunakan meliputi (1) uji validitas (untuk mengetahui valid atau tidaknya butir-butir pertanyaan yang tercantum dalam kuesioner yang akan disebarkan kepada responden). untuk mengetahui valid atau tidaknya pertanyaan dalam kuesioner digunakan teknik analisis korelasi pearson product moment (umar, 2002); (2) uji reliabilitas (untuk 104 journal the winners, vol. 10 no. 2, september 2009: 100-108 mengetahui reliabel atau tidaknya butir-butir pertanyaan dalam kuesioner untuk menjawab tujuan penelitian). pengukuran reliabilitas dikur dengan uji statistik conbrach alpha; (3) analisis jalur/path análisis (merupakan pengembangan dari analisis regresi yang digunakan untuk menganalisis hubungan kausal antar variabel, di mana variabel-variabel bebas mempengaruhi variabel terikat, baik secara langsung maupun tidak langsung, melalui satu atau lebih variabel perantara) (tabel 1). tabel 1 operasional variabel penelitian variabel penelitian konsep variable sub variabel indikator kualitas pelayanan sejauh mana kualitas pelayanan yang diberikan oleh bengkel keberwujudan (tangibles) kehandalan (reability) jaminan (assurance) 1) gedung dan fasilitas bengkel yang nyaman dan bersih 2) penampilan karyawan bengkel yang bersih dan sopan 3) penempatan barang bengkel yang tertata secara sistematis sesuai dengan jenis barang 4) kelengkapan barang pada bengkel yang sesuai dengan kebutuhan 1. harga barang yang dijual pada relatif sesuai dengan mutu/kualitas barang 2. karyawan bengkel cepat saat melayani konsumen 3. penyelesaian pekerjaan dilakukan dengan cepat dan sesuai harga pelanggan 4. para karyawan bengkel tanggap dan mampu dalam menjawab pertanyaan pelanggan 5. pelayanan yang rapi dan baik yang diberikan oleh karyawan 1. jaminan mutu barang (originalitas )/spare part bengkel dapat dipertanggung jawabkan 2. bengkel memberikan informasi secara jelas dan tepat 3. pelayanan maupun transaksi pembayaran pada bengkel dijamin keamanannya 4. pengembalian atau penukaran barang yang sudah dijual ditangani dan dilakukan dengan baik, cepat dan tepat oleh bengkel 5. bengkel memiliki komitmen yang kuat dalam memenuhi kewajibannya berkaitan dengan masa garansi skala pengukuran data yang digunakan adalah pengukuran interval menggunakan skala likert. teknik skala digunakan untuk mengukur sikap, pendapat, dan persepsi seseorang atau sekelompok orang terhadap objek penelitian. skala likert ini berhubungan dengan pernyataan tentang sikap seseorang terhadap sesuatu, misalnya setuju – tidak setuju, senang – tidak senang, dan baik – tidak baik. hasil dan pembahasan profil responden dapat diketahui bahwa pelanggan bengkel didominasi oleh laki laki usia produktif yang berpenghasilan tetap dan cukup loyal kepada bengkel. loyalitas ini perlu tetap dijaga di antaranya melalui forum yang berfungsi sebagai sarana komunikasi dan informasi antara perusahaan dengan pelanggannya (tabel 2). pengaruh pelayanan dan asosiasi .....( muhadjir; febri rahmawati) 105 tabel 2 profil responden sumber: data primer, diolah hasil uji validitas kuesioner uji validitas dilakukan dengan membandingkan nilai thitung dengan nilai ttabel, dengan n = 30, maka didapatkan nilai ttabel 0,311. hasil pengujian menunjukkan bahwa nilai thitung seluruh pertanyaan/indikator pembentuk variabel independen dan dependen nilainya lebih besar daripada ttabel (thitung > ttabel), maka dapat disimpulkan bahwa seluruh pertanyaan dalam kuesioner adalah valid sehingga dapat digunakan sebagai alat ukur. hasil uji reliabilitas kuesioner uji reliabilitas dilakukan untuk mendapatkan tingkat ketepatan (keajegan) alat pengumpul data (kuesioner) yang digunakan. pertanyaan dalam kuesioner reliabel jika nilai cronbach's alpha indikator pembentuk variabel adalah ≥ 0,60. menggunakan perangkat analisis spss 16.0 menunjukkan nilai cronbach's alpha seluruh variabel di atas 0,60 sehingga dapat disimpulkan bahwa kuesioner dapat digunakan sebagai alat pengumpul data. analisis korelasi antar variable dependen dan independen kriteria penilaian kuat lemahnya korelasi hubungan antar variable dilihat dari angka korelasi pearson dengan penilaian sebagai berikut: 0 – 0,25 : korelasi sangat lemah ( dianggap tidak ada ) > 0,25 – 0,5 : korelasi cukup > 0,5 – 0,75 : korelasi kuat > 0,75 – 1 : korelasi sangat kuat hasil pengujian menggunakan spss 16.0 menghasilkan nilai nilai korelasi pearson, yaitu korelasi antara korelasi kualitas pelayanan dengan kepercayaan konsumen (0,501), dan korelasi antara asosiasi merk dengan kepercayaan konsumen (0,532); dapat disimpulkan bahwa korelasi antar variabel dependen dengan variabel independen termasuk kategori kuat karena berada di atas 0,5 tetapi masih di bawah 0,75. no atribut profil % 1. jenis kelamin 1) pria 76 2) wanita 24 2. jenis pekerjaan 1) pegawai negeri/swasta 52 2) wiraswasta 29 3. usia 1) 21 tahun – 29 tahun 55 2) di atas 30 tahun 22 4. pengeluaran perbulan 1) 3,1 juta – 10 juta 64 2) di atas 10 juta 11 5. pengeluaran untuk perawatan motor per tahun 1) 500 ribu – 2,5 juta 67 2) 2,6 juta – 5 juta 7 6. jumlah penggunaan jasa perawatan bengkel 1) 3 kali – 10 kali 49 2) di atas 10 kali 48 106 journal the winners, vol. 10 no. 2, september 2009: 100-108 analisis pengaruh kualitas pelayanan dan asosiasi merek terhadap kepercayaan konsumen pengujian dilakukan dengan menggunakan uji f. menggunakan spss 16.0 didapatkan fhitung 25.350 > ftable (k, n-k-1 adalah 2, 107) sebesar 3.09 sehingga dapat disimpulkan kualitas pelayanan dan asosiasi merek berpengaruh dan signifikan terhadap kepercayaan konsumen. pengujian sub – struktur 1 persamaan sub – struktur 1: y = 0.262 x1 + 0.357x2 + 0.8241 ع r2yx1x2= 0.315 sumber: data primer, diolah gambar 1 diagram jalur sub – struktur 1 pengujian sub – struktur 2 persamaan sub – struktur 2: z = 0.262 x1 + 0.357 x2 + 0.304y + 0.700 ع 2 sumber: data primer, diolah gambar 2 diagram jalur sub – struktur 2 pengaruh pelayanan dan asosiasi .....( muhadjir; febri rahmawati) 107 berdasarkan gambar 1 dan 2 di atas, diketahui besaran/nilai koefisien jalur, pengaruh langsung dan tidak langsung serta pengaruh total variabel variabel penelitian seperti pada tabel 3. tabel 3 rangkuman pengaruh antar variabel variabel koefisien jalur pengaruh langsung tidak langsung melalui y total x1 0.262 0.262 1) 0.1009 6) 0.3629 x2 0.357 0.357 2) 0.0641 7) 0.4211 y 0.304 0.304 3) 0.304 y1 0,332 4) y2 0,211 5) 67.8 = 0.8242 0.824 1ع 49= 0.7002 0.700 2ع sumber: data primer, diolah keterangan: pengaruh langsung variabel kualitas pelayanan terhadap kepercayaan konsumen (pyx1) pengaruh langsung variabel asosiasi merek terhadap kepercayaan konsumen (pyx2) pengaruh variable kepercayaan konsumen terhadap preferensi rekomendasi (pyz) pengaruh langsung variabel kualitas pelayanan terhadap preferensi rekomendasi (px1z) pengaruh variable asosiasi merek terhadap preferensi rekomendasi (px2z) pengaruh variabel kualitas pelayanan terhadap preferensi rekomendasi melalui kepercayaan konsumen --- z1 = ( 0.332x 0.304) = 0.1009 pengaruh variabel asosiasi merek terhadap preferensi rekomendasi melalui kepercayaan konsumen --- z2 = ( 0.211 x 0.304 ) = 0.0641 simpulan hasil penelitian menunjukkan bahwa kualitas pelayanan, asosiasi merek, dan kepercayaan konsumen penting untuk menjadi perhatian perusahaan jasa perbengkelan kendaraan bermotor roda dua, dalam upaya meningkatkan kinerja dan keberlanjutan perusahaan. penting menjadi perhatian karena terbukti bahwa ketiga hal tersebut mempengaruhi pelanggan dalam merekomendasikan jasa bengkel kepada teman dan kerabatnya. berkaitan dengan hal di atas dan merujuk kepada pilihan jawaban responden (pelanggan) terhadap pertanyaan pertanyaan dalam kuesioner, beberapa saran yang dapat dilakukan oleh perusahaan jasa perbengkelan adalah (1) pihak manajemen perlu meningkatkan kualitas pelayanan dengan cara meningkatkan profesionalisme karyawan dengan cara memberikan pelatihan berkala dan bertingkat kepada karyawan bengkel, menetapkan strategi insentif yang menarik dan baik untuk masing-masing karyawannya agar karyawan lebih termotivasi untuk memberikan pelayanan yang terbaik kepada pelanggan, memberikan suatu program atau acara untuk karyawan yang bertujuan untuk meningkatkan loyalitas dan terbentuknya mental positif seperti keterbukaan dan kejujuran yang nantinya akan berpengaruh positif terhadap interaksi dengan pelanggan; (2) menjaga hubungan baik dan jangka panjang dengan pelanggan dengan menyediakan forum yang dapat berfungsi sebagai media komunikasi dengan pelanggan. 108 journal the winners, vol. 10 no. 2, september 2009: 100-108 daftar pustaka arief, m. (2006). pemesanan jasa dan kualitas pelayanan, cetakan pertama, malang: bayumedia publising. durianto, darmadi, sugiarto, dan sitinjak, t. (2004). strategi menaklukan pasar melalui riset ekuitas dan perilaku merek, jakarta: pt gramedia pustaka utama. ferrinadewi, e (2004). brand trus and brand loyalti : is there a link?, jurnal ekonomi – manajemen, vol 3 no.2. irawan, h. (2002). 10 prinsip kepuasan pelanggan. jakarta : elex media komputindo. kotler, p. (2000). marketing management, 10thtd. new jersey : prentice – hall. rangkuti, f. (2004). the power of brands: tekhnik mengelola brand equity dan strategi pengembangan merek, jakarta: pt gramedia pustaka utama. simamora, b. (2002). aura merek, jakarta pt gramedia pustaka utama. simamora, b. (2003). memenangkan pasar dengan pemasaran efektif dan profitabel, cetakan kedua, jakarta: pt gramedia pustaka utama. tjiptono, f., dan chandra, g. (2007). service quality satisfaction, yogyakarta: andi. umar, h. (2002). riset pemasaran dan perilaku konsumen, jakarta: pt gramedia pustaka utama. utami, whidya, dan christina. (2006). manajemen ritel strategi dan impementasi ritel modern, jakarta: salemba empat. wicaksono, s.a dan ihalauw, j.j (2005). pengaruh persepsi kualitas layanan terhadap kepuasan klien dan dampaknya pada preferensi rekomendasi klien, jurnal ekonomi perusahaan vol. 12 no.3, september 2005. yatmin, z. (2005). manajemen kualitas produk dan jasa, cetakan keempat, fakultas ekonomi, universitas islam indonesia, yogyakarta: ekonisia kompas. microsoft word 05_cecep hidayat_setting.doc 128 journal the winners, vol. 10 no. 2, september 2009: 128-136 kontribusi kualitas layanan terhadap kepuasan serta dampaknya pada loyalitas pelanggan cecep hidayat1; putri melinda2 1, 2 jurusan manajemen, fakultas ekonomi dan bisnis, universitas bina nusantara, jln. k.h. syahdan no. 9, palmerah, jakarta barat 11480 ceceph1267@binus.ac.id abstract the purpose of this research is to find contribution of service quality towards building customer satisfaction, and the contribution of service quality towards customer loyalty, and the contribution of both service quality and customer satisfaction towards customer loyalty simultaneously, and find out whether there is any contribution of customer satisfaction to customer loyalty. the type of research used is associative survey and the analysis technique used is path analysis. the data are obtained through a survey with questionaire as the main instrument. this questionnaire is distributed to customers of indosat blackberry isatbb community. results showed that there are positive and significant contributions of service quality towards customer satisfaction, customer satisfaction to customer loyalty, and service quality to customer loyalty all directly or indirectly. keywords: service quality, consumer satisfaction, consumer loyalty abstrak tujuan dari penelitian ini adalah untuk mengetahui kontribusi kualitas pelayanan terhadap membangun kepuasan pelanggan, dan kontribusi kualitas pelayanan terhadap loyalitas pelanggan, dan kontribusi baik kualitas pelayanan dan kepuasan pelanggan terhadap loyalitas pelanggan secara simultan, dan mencari tahu apakah ada kontribusi apapun kepuasan pelanggan terhadap loyalitas pelanggan. jenis penelitian yang digunakan adalah survei asosiatif dan teknik analisis yang digunakan adalah analisis jalur. data diperoleh melalui survei dengan kuesioner sebagai instrumen utama. kuesioner ini didistribusikan kepada pelanggan dalam komunitas indosat blackberry isatbb. hasil penelitian menunjukkan bahwa ada kontribusi positif dan signifikan dari kualitas pelayanan terhadap kepuasan pelanggan, kepuasan pelanggan terhadap loyalitas pelanggan, kualitas pelayanan terhadap loyalitas pelanggan semua secara langsung ataupun tidak langsung kata kunci: kualitas pelayanan, kepuasan konsumen, loyalitas konsumen kontribusi kualitas layanan .....(cecep hidayat; putri melinda) 129 pendahuluan teknologi selular dewasa ini telah banyak mengalami perkembangan, jenis yang banyak berkembang saat ini adalah “smart phone” dimana ponsel didukung oleh fitur yang mendukung dan mempermudah penggunanya dalam berkomunikasi. sebagai contoh research in motion (rim) perusahaan asal kanada ini yang memperkenalkan blackberry untuk pertama kalinya pada tahun 1997 dengan kemampuannya menyampaikan informasi melalui jaringan data nirkabel dan layanan perusahaan telepon genggam mengejutkan dunia. pada tahun 2008 blackberry telah menyumbangkan angka penjualan terbesar bagi rim di asia. blackberry pertama kali di perkenalkan di indonesia pada 15 desember 2004 oleh indosat. setiap tahun penjualan blackberry di indonesia semakin meningkat. sayangnya peningkatan angka penjualan blackberry di indonesia tidak didukung oleh research in motion (rim) untuk membuka kantor cabang atau service center resmi di indonesia untuk mempermudah layanan konsumennya. tetapi menurut pengakuan rim, mereka telah membekali karyawan di operator telekomunikasi yang bekerja sama dengannya dengan kemampuan memperbaiki setiap keluhan yang mungkin terjadi dengan ponsel pintar pelanggan. kelebihan handset blackberry ini dibandingkan dengan smartphone lainnya adalah koneksi gprs yang selalu aktif untuk push-email namun battery tetap tahan lama. kemudian kelebihan blackberry lainnya adalah data compression technique pada setiap email. kelebihan lainnya adalah data loss prevention, dimana apabila handset didiamkan tanpa battery selama beberapa minggu kemudian dihidupkan kembali, maka semua data yang ada masih tetap tersimpan. masalah keamanan juga membuat blackberry lebih unggul dibanding dengan smartphone lainnya dengan mode encryption 128bit sehingga kemungkinan data disadap juga menjadi lebih kecil. selain itu aplikasi blackberry harus di signed oleh rim sehingga membuat blackberry aman dari virus, spyware dan sebagainya. pertama kali, bundling merupakan strategi penjualan blackberry yang di lakukan oleh rim untuk dapat memenuhi kebutuhan konsumennya di indonesia. research in motion bekerja sama dengan operator telekomunikasi untuk menjual produknya blackberry bersama atau satu paket dengan layanan blackberry yang ditawarkan oleh operator tertentu. paket bundling dapat diartikan bahwa operator menjual headset blackberry dengan sistem kunci (lock) yang artinya jika menggunakan kartu dari operator lain pada headset tersebut, blackberry tersebut tidak akan mengenalinya sebagai kartu uim/sim alias tidak berfungsi. keuntungan dari membeli bundling blackberry dari operator adalah mendapatkan paket-paket menguntungkan dan mendapatkan garansi resmi dari operator tersebut yang tidak didapatkan apabila membeli blackberry melalui distributor toko. namun seiring persaingan yang semakin ketat dan permintaan para pengguna layanan blackberry, indosat mempersilahkan para pengguna blackberry resminya untuk membuka kunci (meng-unlock) headset mereka. indosat sebagai operator pertama yang menjual headset blackberry resmi bekerja sama dengan research in motion dan penyedia layanan blackberry internet service dan blackberry enterprise server di indonesia harus menyiapkan strategi agar dapat bersaing dengan perusahaan operator pesaingnya yang menyediakan layanan blackberry internet services (bis) dan blackberry enterprise solution (bes) seperti pt. xl axiata dan telkomsel. tarif layanan blackberry indosat sekarang sangatlah kompetitif dengan pesaing. indosat selalu mempunyai inovasi – inovasi layanan blackberry, berbagai segmen pun di ambil, mulai dari segmen profesional sampai segmen anak muda. tarif layanan untuk masing-masing segmen pun berbeda-beda. perbedaan tarif layanan tidak mengurangi kualitas yang di dapatkan oleh pelanggan. dengan adanya kualitas yang baik dari layanan blackberry indosat akan berdampak pada peningkatan tingkat kepuasan pelanggan terhadap layanan tersebut. berikut adalah jumlah keluhan pelanggan layanan blackberry indosat diperoleh melalui milis isatbb. 130 journal the winners, vol. 10 no. 2, september 2009: 128-136 pelanggan yang sangat puas akan cenderung tetap setia dalam waktu yang lebih lama, membeli lebih banyak ketika perusahaan memperkenalkan produk baru dan memperbarui produkproduk yang ada, membicarakan hal-hal yang baik tentang perusahaan dan produknya, memberi perhatian yang lebih sedikit pada merek dan iklan para pesaing serta kurang peka terhadap harga, menawarkan gagasan tentang jasa atau produk kepada perusahaan, dan membutuhkan biaya pelayanan yang lebih kecil dibandingkan biaya pelayanan pelanggan baru karena transaksinya rutin. berdasarkan uraian yang telah dikemukakan, penulis tertarik untuk melakukan penilitian sejauh mana pengaruh kualitas layanan terhadap kepuasan pelanggan dan dampaknya pada loyalitas pelanggan tersebut. berdasarkan latar belakang masalah yang telah dikemukakan diatas, maka diambil beberapa identifikasi masalah sebagai berikut: adakah kontribusi yang signifikan antara kualitas layanan terhadap kepuasan pelanggan layanan blackberry indosat? adakah kontribusi yang signifikan antara kualitas layanan terhadap loyalitas pelanggan layanan blackberry indosat? adakah kontribusi yang signifikan antara kualitas layanan dan kepuasan pelanggan dan secara simultan terhadap loyalitas pelanggan layanan blackberry indosat? apakah ada kontribusi yang signifikan antara kepuasan pelanggan terhadap loyalitas pelanggan layanan blackberry indosat ? metode penelitian jenis dan sumber data penelitian jenis penelitian yang digunakan adalah asosiatif dan metode penelitian yang digunakan adalah survey dengan menggunakan kuesioner sebagai instrumen utama dalam pengumpulan data. sumber data utama adalah data primer yang berasal dari jawaban 100 responden nasabah bank sinarmas yang terpilih sebagai responden. populasi dan sampling populasi dalam penelitian ini adalah pelanggan blackberry indosat yang tergabung dalam wadah komunitas isatbb yang berjumlah 2969 orang. teknik pengambilan sampel yang digunakan pada penelitian ini adalah simple random sampling. ukuran sampel (sample size) didasarkan rumus slovin diperoleh sebesar 97 responden. hasil uji validitas untuk keseluruhan butir pertanyaan yang mewakili 3 variabel (33 butir pertanyaan) menunjukkan hasil keseluruhan yang valid. disamping itu juga untuk menguji konsistensi jawaban responden dilakukan uji reliabilitas menggunakan teknik cronbach’s alpha. hasil uji reliabilitas untuk variabel kualitas layanan, kepuasan pelangan, dan loyalitas nasabah adalah sebagai berikut: 0,718; 0,738; dan 0,582 (lebih besar dari r tabel 0,17). tehnik analisis sebelum data dianalisis dilakukan transformasi data untuk meningkatkan derajat skala pengukuran dan sebagai prasyarat path analysis, yaitu transformasi dari skala ordinal ke interval. path analysis digunakan untuk menganalisis pola hubungan antar variabel dengan tujuan untuk mengetahui kontribusi atau pengaruh langsung maupun tidak langsung seperangkat variabel bebas (eksogen) terhadap variabel terikat (endogen). path analysis yang digunakan pada penelitian ini adalah path analysis model trimming. menurut (heise, al-rasyid & sitepu, kusnendi) yang dikutip oleh riduwan dan kuncoro (2007,p127), model trimming adalah model yang digunakan untuk memperbaiki suatu model struktur analisis jalur dengan cara mengeluarkan dari model variabel eksogen yang koefisien jalurnya tidak signifikan. kontribusi kualitas layanan .....(cecep hidayat; putri melinda) 131 dasar teori untuk variabel kualitas pelayanan dasar teori yang digunakan adalah dimensi kualitas layanan menurut kotler & keller (2009, p56), yaitu terdapat lima penentu mutu jasa yang kemudian dikembangkan menjadi 21 item skala servqual (yang selanjutnya dijadikan indikator). adapun lima dimensi utama tersebut adalah: tangible (berwujud), reliability (keandalan), responsiveness (tanggapan), assurance (jaminan), dan empathy (empati). untuk variabel kepuasan pelanggan menggunakan indikator dengan dasar teori dimensi kepuasan pelanggan yang dikemukakan oleh irawan (2002, p37-40) yang mengemukakan faktor-faktor pendorong kepuasan konsumen terbagi atas lima bagian yaitu; kualitas produk, harga, service quality, emotional factor, dan kemudahan. dalam mengukur kepuasan pelanggan menggunakan analisis gap dengan mendasarkan pada teori kotler (2000), richard f. gerson (dalam arief, 2005, p167), wilkie ( dalam tjiptono, 2007, p349). untuk variabel loyalitas pelanggan menggunakan dasar teori yang dikemukakan oleh griffin (2005, p33-34) yang menyatakan ada empat aspek dalam pengukuran loyalitas; melakukan pembelian berulang secara teratur, membeli antarlini produk dan jasa, merekomendasikan kepada orang lain, dan menunjukkan kekebalan terhadap tarikan pesaing. adapun dasar teori tentang hubungan antar tiga variabel (kualitas layanan, kepuasan pelanggan, dan loyalitas pelanggan) adalah seperti yang dikemukakan dalam aydin dan oyzer (2005) yang menyatakan bahwa kualitas jasa memiliki pengaruh positif terhadap loyalitas (ningtyastuti, 2009, p23). bagozzi’s (1992) dalam ningtyastuti (2009) mengungkapkan bahwa ”perceived service quality was an appraisal construct; appraisal normally precedes emotional responses such as satisfaction” (chiou dan droge, 2006). “several other empirical studies also confirm the perceived service quality > satisfaction ordering, which corresponds to the traditional attitude structure sequence” (cronin dan taylor 1992 et al: chiou dan droge, (2006). sementara itu, oliver (1997) dalam ningtyastuti (2009) menyatakan bahwa kesetiaan konsumen dalam bentuk pembelian kembali produk dan layanan merupakan hasil dari kepuasan konsumen. kepuasan merupakan salah satu indikator dalam meningkatkan loyalitas konsumen. hal ini menunjukan bahwa, semakin tinggi tingkat kepuasan konsumen maka semakin besar pula loyalitas yang diberikan oleh konsumen. kepuasan merupakan satu indikator dalam mengingkatkan loyalitas konsumen. kepuasan memiliki peran penting dalam membentuk loyalitas, terutama loyalitas yang berada pada tahap afektif. kepuasan yang mendasari terbentuknya loyalitas afektif dapat didasarkan atas kualitas (quality-based), atau atas dasar harga (price-based). hasil analisis analisis pengaruh kualitas layanan terhadap kepuasan pelanggan pada bagian ini akan dijelaskan sub struktur 1, yaitu mengenai analisis jalur antara kualitas layanan (x), terhadap kepuasan pelanggan (y). hasil yang diperoleh adalah seperti yang ditunjukkan oleh tabel 1,2, dan 3. adapun persamaan struktural untuk sub-struktur 1 adalah: tabel 1 anova sub-struktur 1 model sum of squares df mean square f sig. 1 regression 6.597 1 6.597 30.098 .000a residual 21.480 98 .219 total 28.078 99 a. predictors: (constant), kualitaslayanan b. dependent variable: kepuasanpelanggan sumber: hasil pengolahan data 2010 132 journal the winners, vol. 10 no. 2, september 2009: 128-136 tabel 2 model summary sub struktur 2 model r r square adjusted r square std. error of the estimate change statistics r square change f change df1 df2 sig. f change 1 .485a .235 .227 .46817 .235 30.098 1 98 .000 a. predictors: (constant), kualitaslayanan sumber: hasil pengolahan data 2010 pengujian hipotesis hipotesis yang diambil adalah ho yakni tidak adanya kontribusi yang signifikan antara variabel kualitas layanan terhadap variabel kepuasan pelanggan layanan blackberry indosat; dan ha yakni adanya kontribusi yang signifikan antara variabel kualitas layanan terhadap variabel kepuasan pelanggan layanan blackberry indosat. sementara itu, keputusan yang didapatkan adalah sebagai berikut. dari tabel 2 anova, diperoleh nilai f sebesar 30,098 dengan nilai probabilitas (sig) = 0,000. karena nilai sig < 0,05, maka keputusannya adalah ho ditolak dan ha diterima. besarnya pengaruh variabel kualitas layanan (x) dan kepuasan pelanggan (y), dapat diketahui dengan melihat nilai r square pada tabel 2 model summary, bahwa r2 = 0,235 atau 23,5%. besarnya pengaruh dari variabel lain yang mempengaruhi kepuasan pelanggan adalah sebesar 76,5%. sedangkan besarnya koefisien jalur bagi variabel lain di luar penelitian yang mempengaruhi nilai y, dapat dihitung melalui rumus sebagai berikut: y = ρyx + ρyε1 r2zxy = 0,235 ρy ε1 = 2zxyr1 − = 235,01− = 0,874 tabel 3 coefficients sub-struktur 1 model unstandardized coefficients standardized coefficients t sig. b std. error beta 1 (constant) 1.129 .413 2.733 .007 kualitaslayanan .660 .120 .485 5.486 .000 a. dependent variable: kepuasanpelanggan sumber: hasil pengolahan data 2010 y = ρyx + ρyε1 y = 0,485x + 0,874ε1 analisis kualitas layanan (x) serta kepuasan pelanggan (y) terhadap loyalitas pelangan (z) layanan blackberry indosat pada bagian ini akan dijelaskan sub struktur 2, yaitu mengenai analisis jalur antara kualitas layanan (x), kepuasan pelanggan (y), terhadap loyalitas pelanggan (z). hasil yang diperoleh adalah seperti yang ditunjukkan oleh tabel 4, 5, dan 6. adapun persamaan struktural untuk sub-struktur 2 adalah: kontribusi kualitas layanan .....(cecep hidayat; putri melinda) 133 tabel 4 anova sub-struktur 2 model sum of squares df mean square f sig. 1 regression 20.369 2 10.184 114.801 .000a residual 8.605 97 .089 total 28.974 99 a. predictors: (constant), kepuasanpelanggan, kualitaslayanan b. dependent variable: loyalitaspelanggan sumber: hasil pengolahan data dengan 2010 tabel 5 coefficients sub-struktur 2 model unstandardized coefficients standardized coefficients t sig. b std. error beta 1 (constant) -.099 .273 -.365 .716 kualitaslayanan .396 .088 .286 4.526 .000 kepuasanpelanggan .672 .064 .661 10.455 .000 a. dependent variable: loyalitaspelanggan sumber: hasil pengolahan data dengan 2010 tabel 6 model summary sub-struktur 2 model r r square adjusted r square std. error of the estimate change statistics r square change f change df1 df2 sig. f change 1 .838a .703 .697 .29785 .703 114.801 2 97 .000 a. predictors: (constant), kepuasanpelanggan, kualitaslayanan sumber: hasil pengolahan data dengan 2010 hipotesis yang diambil adalah ho yakni tidak adanya pengaruh antara variabel kualitas layanan dan kepuasan pelanggan secara simultan dan signifikan terhadap variabel loyalitas pelanggan layanan blackberry indosat; dan ha yakni adanya pengaruh atau kontribusi antara variabel kualitas layanan dan kepuasan pelanggan secara simultan dan signifikan terhadap variabel loyalitas pelanggan layanan blackberry indosat. sementara itu, keputusan yang diperoleh adalah sebagai berikut. dari tabel 5 anova diperoleh nilai f sebesar 114,801 dengan nilai probabilitas (sig) = 0,000. karena nilai sig < 0,05, maka keputusannya adalah ho ditolak dan ha diterima. oleh sebab itu, pengujian secara individual dapat dilakukan. besarnya kontribusi variabel kualitas layanan dan kepuasan pelanggan secara simultan terhadap variabel loyalitas pelanggan dapat diketahui dengan melihat nilai r2 pada tabel 5 sebesar = 0,703 atau 70,3%. besarnya pengaruh dari variabel lain yang berkontribusi terhadap loyalitas pelanggan di luar penelitian ini adalah sebesar 29,7%. sementara itu, besarnya koefisien jalur bagi variabel lain di luar penelitian yang mempengaruhi nilai dapat dihitung melalui rumus sebagai berikut: r2zxy = 0,703 ρyε2 = 2zxyr1− = 703,01− = 0,544 134 journal the winners, vol. 10 no. 2, september 2009: 128-136 gambar 1 struktur hubungan x, y dan z beserta koefisien jalur sumber: hasil pengolahan data dari gambar 1 tersebut, diketahui bahwa seluruh koefisien jalur dari hubungan, maka diketahui pula kontribusi langsung, tidak langsung serta kontribusi total dari tiap-tiap variabel yang mempengaruhi variabel tertentu. hasilnya dirangkum dalam tabel di bawah ini. tabel 7 koefisien jalur, pengaruh langsung, pengaruh tidak langsung, pengaruh total dan pengaruh kualitas layanan (x), kepuasan pelanggan (y) secara simultan dan signifikan terhadap loyalitas pelanggan (z) variabel koefisien jalur pengaruh langsung tidak langsung (melalui y) total x terhadap y 0,485 0,485 0,485 x terhadap z 0,286 0,286 0,485 x 0,661 = 0,3205 y terhadap z 0,661 0,661 0,661 sumber: hasil pengolahan data 2010 jadi, hasil keseluruhan kontribusi variabel kualitas layanan (x) terhadap kepuasan pelanggan (y) serta dampaknya terhadap loyalitas pelanggan (z) adalah sebagai berikut. penerapan kualitas layanan (x) terhadap kepuasan pelanggan (y) layanan blackberry indosat sebesar (0,485)2 = 23,52%, sisanya sebesar 76,48% nilai dipengaruhi oleh variabel lainnya di luar penelitian ini. penerapan kualitas layanan (x) secara langsung berkontribusi terhadap loyalitas pelanggan (z) layanan blackberry indosat sebesar (0,286)2 = 8,17%. sisanya sebesar 91,83% nilai variabel sikap konsumen dipengaruhi oleh variabel lainnya di luar penelitian ini. penerapan kualitas layanan (x) berkontribusi secara tidak langsung terhadap loyalitas pelanggan (z) layanan blackberry indosat sebesar (0,6065)2 = 36,78%. sisanya sebesar 63,22% nilai variabel loyalitas pelanggan dipengaruhi oleh variabel lainnya di luar penelitian ini. penerapan kepuasan pelanggan (y) memberikan kontribusi terhadap loyalitas pelanggan (z) sebesar (0,661)2 = 43,69%. sisanya sebesar 56.31% nilai variabel loyalitas pelanggan dipengaruhi oleh variabel lainnya di luar penelitian ini. implikasi hasil penelitian berdasarkan hasil penelitian, berikut ini akan dikemukakan beberapa implikasi yang dianggap relevan dengan penelitian. implikasi tersebut antara lain sebagai berikut. hasil pengolahan dan analisis data menunjukkan bahwa kualitas layanan (x) memberikan kontribusi yang signifikan terhadap kontribusi kualitas layanan .....(cecep hidayat; putri melinda) 135 kepuasan pelanggan (y) sebesar 23,52%. kontribusi ini cukup besar, namun diperlukan upaya-upaya untuk meningkatkan kualitas layanan blackberry indosat yang dapat mempengaruhi kepuasan pelanggan layanan blackberry indosat sehingga akan menambah jumlah pelanggan. hasil pengolahan dan analisis data menunjukkan kualitas layanan (x) memberikan kontribusi secara langsung yang signifikan terhadap loyalitas pelanggan (z) sebesar 8,17%. kontribusi ini dirasa kecil, untuk itu diperlukan upaya-upaya untuk lebih meningkatkan loyalitas pelanggan layanan blackberry indosat dengan cara memperbaiki kualitas layanan blackberry indosat serta penanganan keluhan pelanggan dengan tepat dan cepat. hasil pengolahan dan analisis data menunjukkan bahwa kualitas layanan (x) memberikan kontribusi secara tidak langsung yang signifikan terhadap loyalitas pelanggan (z) sebesar 36,78%, yaitu kontribusi yang melalui kepuasan pelanggan (y). jadi, perusahaan harus dapat memperbaiki kualitas layanan yang akan meningkatkan kepuasan pelanggan dan selanjutnya akan berkontribusi terhadap loyalitas pelanggan layanan blackberry indosat. hasil pengolahan dan analisis data menunjukkan bahwa kepuasan pelanggan (y) memberikan kontribusi yang signifikan terhadap loyalitas pelanggan (z) sebesar 43,69%. kontribusi ini sangat besar, jadi seharusnya perusahaan meningkatkan kepuasan pelanggan agar loyalitas pelanggan layanan blackberry indosat semakin meningkat. simpulan dari pembahasan yang telah dipaparkan, maka dapat ditarik beberapa simpulan sebagai berikut (1) kualitas layanan berkontribusi secara signifikan terhadap kepuasan pelanggan, (2) kualitas layanan berkontribusi secara signifikan terhadap loyalitas pelanggan, kualitas layanan dan kepuasan berkontribusi secara signifikan dan secara simultan terhadap loyalitas pelanggan layanan blackberry indosat. adapun saran yang dapat diberikan kepada pt indosat, tbk adalah sebagai berikut. untuk variabel kualitas layanan, sebaiknya blackberry indosat mengadakan perbaikan seperti memberikan arahan kepada customer service galeri indosat agar bersikap lebih ramah dan sopan terhadap pelanggan dan mempunyai rasa ingin membantu pelanggan yang besar. untuk variabel kepuasan pelanggan, sebaiknya blackberry indosat mengadakan perbaikan seperti penanganan keluhan yang cepat dan tepat sesuai dengan keinginanan pelanggan agar mereka merasa lebih puas, dan memperbaharui sistem pembayaran layanan blackberry indosat agar lebih mudah dan nyaman bagi pelanggan. untuk variabel loyalitas pelanggan, sebaiknya blackberry indosat meningkatkan kualitas layanannya serta diimbangi dengan meningkatnya kepuasan pelanggan karena kedua hal ini merupakan cara yang sangat berpengaruh untuk meningkatkan loyalitas pelanggan secara signifikan. daftar pustaka arief. (2007). pemasaran jasa dan kualitas pelayanan – bagaimana mengelola kualitas pelayanan agar memuaskan pelanggan, edisi pertama, malang: pt bayumedia publishing. chiou j. dan droge, cornelia. (2006). “trust, specific asset, investment, and expertise: direct and indirect effects in a satisfaction – loyalty framework.” journal of the academy of marketing science, vol. 8. (5), p.34. cronin, j.j. dan steven a.taylor (1992). measuring service quality: a reexamination and extension, the journal of marketing vol. 56 no. 3 p 55-68. 136 journal the winners, vol. 10 no. 2, september 2009: 128-136 griffin, j. (2005). customer loyalty: menumbuhkan dan mempertahankan kesetiaan pelanggan, jakarta: penerbit erlangga. irawan, h. (2002). sepuluh prinsip kepuasan pelanggan, jakarta: gramedia. kotler, p., dan keller, k.l. (2009). manajemen pemasaran, jilid pertama, edisi keduabelas, pt indeks, kelompok gramedia: jakarta. ningtyastuti, r. (2009). pengaruh kualitas jasa, kepuasan dan kepercayaan terhadap kesetiaan, depok: fisip ui. riduwan dan kuncoro, e.a. (2007). cara menggunakan dan memakai analisis jalur (path analysis), bandung: penerbit alfabeta. tjiptono, f. (2000). strategi pemasaran, edisi kedua, yogyakarta: penerbit andi. microsoft word 01_ed_visual merchandising-a2t.docx the effect of visual merchandising..... (jessica novia) 1  the effect of visual merchandising on impulsive buying with impulsive buying tendency as moderating variable jessica novia international marketing, school of business management, bina nusantara university jln. k.h. syahdan no. 9, palmerah, jakarta barat 11480 jessica.novia@live.com abstract this research aims to classify the female consumer demographic segments linked by impulsive buying, to determine the effect of visual merchandising on impulsive buying, and to determine the effect of visual merchandising on impulsive buying with impulsive buying tendency as moderating variable on customers of gaudi in taman anggrek mall. this research is quantitative research with a total sample of 100 people. data were obtained by distributing questionnaires to the respondents by cross sectional. research used cluster analysis and moderated regression analysis. data processing was performed using spss software for windows version 20. research found that customers of gaudi were divided into three groups: the way of the world, sufficient money, and promotions. then, research found that visual merchandising affected impulsive buying. in addition, there visual merchandising had also an effect on impulsive buying with impulsive buying tendency as moderating variable. as a conclusion, moderating variable strengthens the effect of visual merchandising on impulse buying. keywords: impulsive buying, visual merchandising, impulsive buying tendency abstrak penelitian bertujuan untuk mengelompokkan konsumen wanita berdasarkan segmen demografis terkait impulsive buying, mengetahui pengaruh visual merchandising terhadap impulsive buying, dan mengetahui pengaruh visual merchandising terhadap impulsive buying dengan impulsive buying tendency sebagai variabel moderator pada konsumen gaudi di mal taman anggrek. jenis penelitian adalah kuantitatif dengan jumlah sampel sebanyak 100 orang. data diperoleh dengan menyebarkan kuesioner pada responden secara cross sectional. metode analisis menggunakan cluster analysis dan moderated regression analysis. pengolahan data dilakukan dengan menggunakan software spss versi 20.00 for windows. hasil penelitian menunjukkan bahwa konsumen gaudi terbagi menjadi tiga kelompok, yaitu kelompok the way of the world, sufficient money, dan promotions. kemudian penelitian menemukan bahwa visual merchandising berpengaruh terhadap impulse buying. selain itu, visual merchandising memliki pengaruh terhadap impulsive buying dengan impulsive buying tendency sebagai variabel moderator. penelitian menyimpulkan bahwa variabel moderator memperkuat pengaruh antara visual merchandising terhadap impulsive buying. kata kunci: pembelian impulsif, visual merchandising, kecenderungan pembelian impulsif 2   journal the winners, vol. 16 no. 1, march 2015: 1-5  introduction fashion industry is one of the exciting industries in indonesia because the fashion aspect to be one of the basic needs for all people, especially women. sudarsono (koran sindo, 2014) wrote that in 2013, the fashion industry in indonesia is able to contribute rp181.6 billion to gross domestic product (gdp) and the number is the second-largest contributor after the culinary creative economic sectors. therefore, the fashion industry will trigger the market to continue growing, manufacturers to produce, marketers to sell, and consumers to buy. based on the description, there are new opportunities in the fashion industry such as increasing numbers of clothing stores, in which the more number of clothing store the tougher competition between companies in the fashion industry. in connection with the competition that occurs in the fashion industry, marketers must be able to act creatively in the development. it is because the number of deals in the market is now greater than the demand of consumers. therefore, it requires companies to build competitive advantage and develop or create effective and innovative marketing strategies in order to compete. dealing with such matters, pt dwi laras gaudi is a company engaged in fashion industry. it is held at complex gading bukit indah blok ta / 22 to 23.25, north jakarta. pt dwi laras gaudi preserves women's clothing industry with gaudi brand that has stood since 2004. the interview with ms. fitri as senior supervisor at gaudi, taman anggrek mall branch, revealed that in one day the number of arrivals of customers to gaudi store is around 50-60 people, yet there is only about 50% making purchases, while the rest just have a look and then get out without making any purchase. this indicates that customers are less interested in buying spontaneously. the initial allegation that causes low spontaneous purchase is visual display merchandising in the gaudi store. according to yang, huang, and feng (2011), basically there is one factor that can support or improve spontaneous purchase. basically the factor is also supported by visual merchandising, which is impulsive buying tendency. in addition, gaudi also wanted to know the consumer grouping customers based on demographic variables related to impulsive buying. hence, this study was conducted additional analysis to solve the problems. based on the research background mentioned, the main issues raised in this study are as follows. first is how the customer grouping of women in gaudi, taman anggrek mall branch, by demographic segment associated with impulsive buying. second is how visual merchandising (x) affects on impulsive buying (y). third is how visual merchandising (x) affects on impulsive buying (y) with impulsive buying tendency (x') as moderator variable. research was conducted with the following objectives: (1) to group the female customers in gaudi taman anggrek mall branch by demographic segment associated with impulsive buying; (2) to determine the effect of visual merchandising on impulsive buying; and (3) to determine the effect of visual merchandising on impulsive buying with impulsive buying tendency as moderating variable. this study is beneficial to be a reference to pt gaudi dwi laras, taman anggrek mall branch, to find potential customers and a way to entice them to make impulsive buying. besides, the company would apply attractive design in visual merchandising to increase sales and impulsive buying from customers. levy and weitz (2011) revealed that visual merchandising is the presentation of a store and merchandise that will attract the attention of potential customers. visual merchandising aims at improving the attractiveness of certain brands and products on display rack, influencing consumers to the effect of visual merchandising..... (jessica novia) 3  buy more, and getting more sales and profit. in this study, the dimensions of visual merchandising are window display, store display, and promotional signage. according to stern, impulsive buying tendency is the tendency of customers to behave to buy spontaneously and suddenly, or want to buy because of whatever they thought, be suggested to buy, or will be planned to buy (semuel, 2006). many retail stores are set up wares to maximize impulsive buying as an eye-catching display to create a unique design and attractive packaging to improve impulsive buying. impulsive buying tendency variable includes cognitive and affective aspects (herabadi, 2003). the cognitive aspect is the intellectual abilities of a person in thinking, planning, and solving problem. while the affective aspect is the attitude, interest, emotion, and the value of one's own life. according to hoyer and maclnnis (2010) impulsive buying occurs when consumers suddenly decided to buy something that was not planned before to buy a product. however, impulsive buying is a condition when the individual experiences a sense of urgency or sudden impulse that cannot be resisted (solomon, 2007). impulsive buying has several characteristics, which are spontaneity, power, compulsion and intensity, excitement and stimulation, and disregarded of consequences. method this type of research is quantitative. data were obtained in the form of numbers using descriptive and associative approach. descriptive study aims to describe the characteristics of a person, event, or certain situations (sekaran & bougie, 2013). meanwhile, the associative research aims to determine the relationship of two or more variables (sugiyono, 2011). the analytical method used is cluster analysis and moderated regression analysis. the data used in this study are primary data, in the form of numbers taken through a direct survey by distributing questionnaires to gaudi customers at taman anggrek mall. questionnaires were distributed during the two weeks and performed in late november to early december 2014. time horizon for this study is single-cross sectional in which data collection was only done once in a specific time from one group of respondents. results and discussion results of cluster analysis show that the largest number of subscribers is in the first group with a membership of 56 people, followed by the second group with a membership of 25 people, and the third group with a number of members is 19 people (see table 1). this is in line with yang et al. (2011), that members of the cluster of the way of the world and cluster sufficient money have the highest score in making impulsive buying. so the implication for gaudi is to focus on attracting customers in the first cluster, always update the latest trends, and thus increasing the number of customers that is easy to purchase impulsively due to following the trend. table 1 cluster analysis cluster name number of member the way of the world 56 people sufficient money 25 people promotions 19 people (source: data processing, 2015) 4   journal the winners, vol. 16 no. 1, march 2015: 1-5  results for the second and third objectives can be seen in table 2. the regression test before there was a moderating variable showed that a significant difference to the value of 0,000 and the coefficient of determination (r square) of 0.633. visual merchandising has a significant influence on impulsive buying 63.3%. however, the balance of 36.7% is explained by other variables outside the model. it means that the more increases in the value of visual merchandising, the more increases in the value of impulsive buying and vice versa. so when visual merchandising applied is more interesting, then the interest of the customer impulsive buying will also increase. on the contrary, if the visual merchandising is not neatly arranged, then the interest of the customer impulsive buying will decline. this is consistent with mehta and chugan (2013) which stated that there is a significant influence of impulsive buying behavior on window display, floor merchandising, and promotional signage. nonetheless, in-store form does not have a significant impact on impulsive buying, yet instore form indicates that there is a correlation with impulsive buying behavior. tabel 1 summary of r square and sig coefficient construct r square sig coefficient 1 visual merchandising impulsive buying 0.633 0.000 2 visual merchandising impulsive buying impulsive buying tendency 0.635 0.032 (source: data processing, 2015) based on the result, the company must make the appearance of visual merchandising as attractive as possible to be applied at gaudi in taman anggrek mall in order to increase customer interest in impulsive buying. the company can increase impulsive buying interest by evaluating the factors that make up the visual merchandising. this can be done by calculating the lowest average of the questionnaire results regarding visual merchandising at gaudi in taman anggrek mall. it is found the lowest average was in indicator 4 "i rely on in-store display clothing when making purchase decisions" of 2.38. therefore, the company needs to improve the look of the clothes on display in the store to look more attractive. it is supposed the preparation of clothes by the category, the color, the size, or it may be added a display mannequin. while the visual merchandising indicator which needs to be retained was in indicator 8 “signs of promotion such as sale or new arrivals near the product, i was interested to see the products offered” of 3.25. it means the arrangement of promotional signage must be maintained to increase customer buying impulses. furthermore, the regression test after there was moderating variable shows that there is a significant influence by sig. value of 0.032 and the coefficient of determination (r square) increased by 0.002 into 0.635. it means moderating variable between the visual merchandising strengthens the influence on impulsive buying. if the company wants to increase impulsive buying behavior of customers, it will be better they have customers’ tendency of impulsive buying behavior. the impulsive buying tendency can be built by arranging store atmosphere in which the customers feel comfortable when shopping, and reminding salesman/woman to be always be flattering when customers try on clothes. salesman/woman should also provide a reference model that is suitable to mix and match. hence, customers can increase buying impulses when shopping for clothing products. the effect of visual merchandising..... (jessica novia) 5  conclusion based on results and analysis, this research’s conclusions are as follows. first, by using the cluster analysis method, gaudi’s female customers at mal taman anggrek can be classified into three groups: the first group is the way of the world, the second group is sufficient money, and the third group is promotions. most cluster members are in the first cluster. second, visual merchandising has a significant effect on customer impulsive buying. if the visual display merchandising is more appealing then the interest of customers to buy impulsively will also increase. third, visual merchandising has a significant effect on impulsive buying by impulsive buying tendency as moderating variable. the addition variable (impulsive buying tendency) can give the effect of strengthening the influence of visual merchandising on impulsive buying, wherein if a customer has a tendency to buy impulsively, then s/he will make impulsive buying. references herabadi, a. g. (2003). buying impulses: a study on impulsive consumption. university of nijmegen. hoyer, w. d., & maclnnis, d. j. (2010). consumer behavior (5th ed.). south-western college publishing. koran sindo. (2014). industri fashion sumbang rp 181,6 triliun. retrieved from http://www.koransindo.com/node/369085 levy, m., & weitz, b. (2011). retailing management (8th ed.). mcgraw-hill education. mehta, n. p., & chugan, p. k. (2013). the impact of visual merchandising on impulse buying behavior of consumer: a case from central mall of ahmedabad india. universal journal of management, 1(2), 76–82. sekaran, u., & bougie, r. (2013). research methods for business (6th ed.). united kingdom: john wiley and sons. semuel, h. (2006). dampak respon emosi terhadap kecenderungan perilaku pembelian impulsif konsumen online dengan sumberdaya yang dikeluakan dan orientasi belanja sebagai variabel mediasi. jurnal manajemen dan kewirausahaan, 8(2), 101–115. solomon, m. r. (2007). consumer behavior: buying, having, and being (7th ed.). new jersey: pearson prentice hall. sugiyono. (2011). metode penelitian pendidikan pendekatan kualitatif, kuantitatif, dan r&d. bandung: alfabeta. yang, d.-j., huang, k. c., & feng, x. (2011). a study of the factors that affect the impulsive cosmetics buying of female consumers in kaohsiung. international journal of business and social science, 2(24), 275–282. retrieved from http://ijbssnet.com/journals/vol_2_no_24_special_issue_december_2011/30.pdf microsoft word 07_choirul_setting.doc 160 journal the winners, vol. 11 no. 2, september 2010: 160-178 hasil evaluasi pelaksanaan dana alokasi khusus pendidikan apbn ri tahun 2007 di provinsi maluku khoirul anwar universitas negeri jakarta, jln. rawamangun muka, jakarta timur 13220 anwar_choirul@yahoo.com abstract improving educational quality and equal learning opportunities in basic education can be achieved if supported by adequate infrastructure. based on 2006 data on the number of existing facilities and infrastructures indicate that approximately 35% of 131,402 primary schools are still in poor condition and require rehabilitation. to cope with the condition of facilities and infrastructure in primary schools, the government has implemented various programs, one of which is the special allocation fund program (dak) in the education sector which has the objective to help fund special activities into regional affairs and is a national priority. this paper aims to provide a snapshot of the flow of funds sourced from the state budget and whether its use is in accordance with the objectives (technical instructions) or there are irregularities. this paper aims also to give a real case in public administration in the era of reform that is absolutely required to keep transparent and accountable records. samples are taken from schools in the province of maluku due to their geographic location that are difficult to implement development programs, especially education. keywords: special allocation fun(dak), state budget, transparency, accountability abstrak peningkatan mutu pendidikan dan pemerataan kesempatan belajar pada jenjang pendidikan dasar dapat dicapai apabila didukung oleh sarana dan prasarana yang memadai. berdasarkan data tahun 2006, jumlah sarana dan prasarana yang ada menunjukkan bahwa kurang lebih 35% dari 131.402 sd/mi masih dalam kondisi rusak dan memerlukan rehabilitasi. untuk mengatasi kondisi sarana dan prasarana di sd/mi tersebut, pemerintah melalui telah melaksanakan berbagai macam program, salah satunya adalah program dana alokasi khusus (dak) bidang pendidikan yang mempunyai tujuan untuk membantu mendanai kegiatan khusus yang menjadi urusan daerah dan merupakan prioritas nasional. penulisan ini ditujukan untuk memberikan gambaran tentang arus dana yang bersumber dari apbn dan penggunaannya apakah sudah efektif sesuai dengan tujuan (petunjuk teknis) atau ada penyimpangan. tulisan ini bertujuan juga untuk memberikan gambaran kasus real dalam administrasi pemerintahan di era reformasi yang mutlak dituntut untuk melakukan pencatatan yang transparan dan akuntabel. sampel dalam penulisan ini adalah sekolah-sekolah yang ada di provinsi maluku mengingat letak geografisnya yang sulit dalam melaksanakan program pembangunan khususnya pendidikan. kata kunci: dana alokasi khusus (dak) apbn, transparansi, akuntabilitas hasil evaluasi pelaksanaan .....(khoirul anwar) 161 pendahuluan pendidikan merupakan satu aspek penting bagi pembangunan bangsa. oleh karena itu, hampir semua bangsa menempatkan pembangunan pendidikan sebagai prioritas utama dalam program pembangunan nasional. sumber daya manusia yang bermutu, yang merupakan produk pendidikan, merupakan kunci keberhasilan pembangunan suatu bangsa dan negara. peningkatan mutu pendidikan dan pemerataan kesempatan belajar pada jenjang pendidikan dasar dapat dicapai apabila didukung oleh sarana dan prasarana yang memadai. berdasarkan data tahun 2006, jumlah sarana dan prasarana yang ada menunjukkan bahwa kurang lebih 35% dari 131.402 sd/mi masih dalam kondisi rusak dan memerlukan rehabilitasi. sebagai sarana dan prasarana penunjang wajib belajar 9 tahun, pemerintah melalui direktorat pembinaan tk dan sd, direktorat jenderal manajemen pendidikan dasar dan menengah, departemen pendidikan nasional telah melaksanakan berbagai macam program, salah satunya adalah program dana alokasi khusus (dak) bidang pendidikan tahun 2007. ”program dana alokasi khusus di bidang pendidikan ini adalah dana yang bersumber dari anggaran pendapatan dan belanja negara (apbn) yang dialokasikan kepada daerah tertentu dengan tujuan untuk membantu mendanai kegiatan khusus yang menjadi urusan daerah dan merupakan prioritas nasional, khususnya dalam upaya pemenuhan kebutuhan sarana dan prasarana pelayanan dasar masyarakat.” (apbn, 2007) mengingat dana alokasi khusus (dak) bersumber pada apbn atau keuangan negara, maka pelaksanaannya harus sesuai dengan undang-undang, yaitu “keuangan negara dikelola secara tertib, taat pada peraturan perundang-undangan, efisien, ekonomis, efektif, transparan, dan bertanggung jawab dengan memperhatikan rasa keadilan dan kepatutan” (uu ri no.17, 2003). sebagai penunjang pelaksanaan wajib belajar 9 tahun, dana alokasi khusus bidang pendidikan ini dialokasikan untuk menunjang kegiatan (1) rehabilitasi gedung/ruang kelas sd/sdlb, mi/salafiah, termasuk sekolah-sekolah setara sd yang berbasis keagamaan pelaksana program wajib belajar, baik negeri maupun swasta, dan (2) peningkatan mutu pendidikan sekolah dasar. penetapan kebijakan penggunaan dak melalui subsidi ke sekolah didasarkan pula atas pertimbangan adanya manfaat-manfaat seperti (1) dak dapat mewujudkan pengelolaan pendidikan yang transparan, profesional, dan akuntabel; (2) dak dapat mewujudkan pelibatan masyarakat secara aktif dalam kegiatan pendidikan; (3) dak dapat mendorong adanya pengawasan langsung dari masyarakat; dan (4) dak dapat menggerakkan roda perekonomian masyarakat bawah melalui jalur pendidikan. untuk mengetahui kesesuaian antara pelaksanaan program dak bidang pendidikan tahun 2007 di masing-masing kabupaten/kota dengan petunjuk teknis pelaksanaan dak bidang pendidikan tahun 2007, direktorat pembinaan tk dan sd perlu melaksanakan kegiatan evaluasi terhadap kegiatan dak. untuk memperoleh gambaran secara akurat dan tepat tentang pelaksanaan program dak bidang pendidikan tahun 2007, maka kegiatan evaluasi kegiatan perlu dilaksanakan. penentuan target dak (sekolah sasaran). pengalokasian dak pendidikan tahun 2007 sesuai dengan apbn ri tahun 27 dan petunjuk teknisnya memiliki karakteristik tersendiri bagi penerima dak. untuk itu, dalam evaluasi kegiatan perlu diawali dari penelusuran daerah atau sekolah yang berhak menerima dak pendidikan tahun 2007. adapun kriteria pengalokasian dak tahun 2007 meliputi sebagai berikut. pertama, kriteria umum penyaluran dak adalah ditetapkan dengan mempertimbangkan kemampuan keuangan daerah. kriteria umum ini dihitung dengan melihat kemampuan apbd untuk kebutuhan-kebutuhan dalam rangka pembangunan daerah yang dicerminkan dari penerimaan umum apbd dikurangi belanja pegawai. kedua, kriteria khusus penyaluran dak adalah ditetapkan dengan memperhatikan peraturan perundang-undangan dan karakteristik daerah, yaitu (1) prioritas kesatu adalah 162 journal the winners, vol. 11 no. 2, september 2010: 160-178 kabupaten/kota di provinsi papua dan daerah tertinggal/terpencil; kemudian, karakteristik wilayah seperti daerah pesisir dan kepulauan, daerah perbatasan dengan negara lain, daerah yang masuk kategori ketahanan pangan, dan daerah pariwisata; (2) prioritas kedua adalah hasil kesepakatan pemerintah dan dpr untuk menambah karakteristik wilayah, yaitu daerah rawan banjir dan longsor; daerah yang menampung transmigrasi; daerah yang memiliki pulau-pulau kecil terdepan; daerah yang alokasi dana alokasi umumnya dalam tahun 2007 tidak mengalami kenaikan; daerah rawan pangan / kekeringan; daerah pasca konflik; dan daerah penerima pengungsi. ketiga, kriteria teknis penyaluran dak adalah jumlah sd/sdlb dan mi yang mengalami kerusakan berat dan sedang. penggolongan kualifikasi bantuan. pengolahan kualifikasi bantuan secara garis besar sesuai dengan apbn ri tahun 27 dan petunjuk teknisnya dikelompokkan dalam 2 kategori. pertama, kategori i rehabilitasi dan peningkatan mutu yang meliputi (1) penggunaan dak bidang pendidikan kategori i diperuntukkan bagi kabupaten/kota yang masih memerlukan program rehabilitasi sekolah. kegiatannya meliputi 2 komponen, yaitu merehabilitasi fisik sekolah, yang mencakup rehabilitasi gedung sekolah/ruang kelas, pengadaan/rehabllitasi sumber dan sanitasi air bersih serta kamar mandi dan wc, pengadaan/ perbaikan meubiler ruang kelas, lemari perpustakaan dan pembangunan/rehabifitasi rumah dinas penjaga/guru/kepala sekolah; selanjutnya adalah mengadakan sarana pendidikan dan sarana perpustakaan, yang mencakup alat peraga pendidikan, buku pengayaan, buku referensi, dan sarana multimedia; (2) sekolah penerima dak diwajibkan melaksanakan semua komponen kegiatan di atas sebagai satu kesatuan yang utuh; (3) proporsi dana antara komponen “a” (rehabilitasi fisik sekolah) dan komponen “b” (pengadaan sarana pendidikan dan sarana perpustakaan) ditetapkan 60 : 40. hal ini berlaku bagi kabupaten/kota dengan indek kemahalan konstruksi (ikk) = 1, di mana alokasi dana per sekolahnya ditetapkan sebesar rp 250.000.000,00 (dua ratus lima puluh juta rupiah). khusus untuk komponen “a” (rehabilitasi fisik sekolah), alokasi dana per sekolah disesuaikan dengan ikk kabupaten/kota; (4) pendanaan komponen kegiatan pada poin 3 di atas berasal dari sumber, yaitu dak (apbn) sebesar 90% dari alokasi sekolah dan kabupaten/kota (apbd) sebesar minimal 10% dari alokasi sekolah; (5) dalam memenuhi butir “d”, kabupaten/kota sekaligus menaati kesepakatan bersama pembiayaan pendidikan antara menteri pendidikan nasional dengan para gubernur dan bupati/ walikota. kedua, kategori ii peningkatan mutu yang meliputi (1) penggunaan dak bidang pendidikan kategori ii diperuntukkan bagi kabupaten/ kota atau sekolah yang sudah (tidak memerlukan lagi program rehabilitasi sekolah). kegiatannya meliputi 2 komponen, yaitu merehabititasi/ membangun ruang perpustakaan dan mengadakan meubiler perpustakaan serta pengadaan sarana pendidikan dan perpustakaan, yang mencakup pengadaan alat peraga pendidikan, buku pengayaan, buku referensi, dan sarana multimedia dan alat elektronika; (2) sekolah penerima dak diwajibkan melaksanakan semua komponen kegiatan di atas sebagai satu kesatuan yang utuh; (3) alokasi dana per sekolah ditetapkan sebesar rp 250.000.000,00 (dua ratus lima puluh juta rupiah). hal ini berlaku bagi kabupaten/ kota dengan ikk = 1. khusus untuk komponen “a” (merehabilitasi/membangun ruang perpustakaan dan pengadaan meubiler), alokasi dana per sekolah disesuaikan dengan ikk kabupaten/kota; (4) pendanaan komponen kegiatan pada poin 3 di atas berasal dari sumber, yaitu dak (apbn) sebesar 90% dari alokasi sekolah, dan kabupaten/kota (apbd) sebesar minimal 10% dari alokasi sekolah. kegiatan-kegiatan yang tidak dapat dibiayai dak meliputi administrasi kegiatan, penyiapan kegiatan fisik, penelitian, pelatihan, perjalanan pegawai daerah, dan lain-lain biaya umum sejenis. kegiatan-kegiatan yang tidak dapat dibiayai dak tersebut di atas, pembiayaannya dibebankan kepada biaya umum yang disediakan melalui apbd. transparansi dan akuntabilitas. pelaksanaan dak pendidikan haruslah transparan dalam artian harus mendapatkan perhatian yang baik dan control yang baik dari masing masing fihak seperti bupati/walikota, komite sekolah, kepala sekolah dan masyarakat setempat. selanjutnya karena ini menyangkut dengan keuangan negara maka kegiatan ini harus siap untuk diperikas hasil evaluasi pelaksanaan .....(khoirul anwar) 163 (auditable) untuk bisa dipertanggung jawabkan. ”pemeriksaan keuangan negara meliputi pemeriksaan atas pengelolaan keuangan negara dan pemeriksaan atas tanggung jawab keuangan negara. bpk melaksanakan pemeriksaan atas pengelolaan dan tanggung jawab keuangan negara. pemeriksaan pengelolaan dan tanggung jawab keuangan negara yang dilakukan oleh bpk meliputi seluruh unsur keuangan negara sebagaimana dimaksud dalam pasal 2 undang-undang nomor 17 tahun 2003 tentang keuangan negara” (bastian, 2007). demikian juga menurut indra bastian dalam bukunya audit sektor publik yang menyebutkan “dalam proses pemeriksaan, kesiapan daerah dan perangkatnya sangat penting dan tentunya tak bisa dipisahkan begitu saja dengan persiapan proses auditing. bagaimanapun dalam proses ini, daerah harus menunjukkan bukti-bukti yang kuat atas transaksi keuangannya.” (cahyat, 2004). selain itu, ade cahyat menjelaskan bahwa “peraturan perundangan di bidang pengelolaan keuangan daerah dan pemerintahan daerah memberikan mandat kepada pimpinan daerah untuk melakukan evaluasi terhadap pelaksanaan apbd. fungsi evaluasi ini adalah bagian dari fungsi pembinaan dan pengawasan gubernur terhadap pemerintah kabupaten /kota” (mahmudi, 2005). dengan adanya evaluasi dan pengawasan tersebut diatas menurut mahmudi maka “reformasi sektor publik dalam rangka menciptakan good public & corporate governance di indonesia bisa terwujud melalui suatu kinerja yang baik, yaitu kinerja sektor publik yang terintegrasi dan bersistem dengan baik yang mampu meningkatkan standar pelayanan publik”. (bastian, 2006a). perwujudan kinerja yang baik dalam administrasi pemerintahan/publik tidak terlepas oleh peran akuntansi pemerintahan/publik yang baik dan transparan. “akuntansi sektor publik didefinisikan sebagai akuntansi dana masysrakat, yang selanjutnya dapat diartikan sebagai mekanisme teknik dan analisis akuntansi yang diterapkan pada pengelolaan dana masyarakat/negara (apbn)” (bastian, 2006b). secara keseluruhan pelaksanaan administrasi pemerintahan agar supaya memenuhi syarat transparansi haruslah didukung oleh sistem akuntansi pemerintahan yang cukup handal. “tuntutan akan transparansi publik, kinerja yang baik, dan akuntabilitas begitu sering ditujukankepada para manajer pemerintahan. sehingga semua haruslah diakomodir dalam kebijakan good corporate governance karena hal tersebut merupakan tuntutan yang harus dipenuhi oleh administrasi sektor publik” (uu ri no.1, 2004). mekanisme penyaluran dak bidang pendidikan dak disalurkan dengan cara pemindahbukuan dan rekening kas umum negara ke rekening kas umum daerah (kabupaten/kota). dengan demikian penyarulan dana ini tidak terlepas dari kantor perbendaharaan negara dalam pendistribusian uang atau dana pembangunan. “bendahara adalah setiap orang atau badan yang diberi tugas untuk dan atas nama negara/daerah, menerima, menyimpan, dan membayar/menyerahkan uang atau surat berharga atau barang-barang negara/daerah” (uu ri no. 15, 2004). penyaluran dana diberikan secara penuh/utuh tanpa potongan pajak baik dari kas umum negara ke kas umum daerah maupun dari kas umum daerah ke rekening sekolah. kewajiban pajak atas penggunaan dak diselesaikan oleh sekolah penerima dak sesuai dengan peraturan perundang-undangan yang berlaku. ilustrasi mekanisme penyaluran dak bidang pendidikan disajikan pada gambar 1. 164 journal the winners, vol. 11 no. 2, september 2010: 160-178 gambar 1 ilustrasi mekanisme penyaluran dak bidang pendidikan keterangan: : komando : garis koordinas metode penelitian identifikasi popolasi dan sampel populasi pada kegiatan evaluasi pelaksanaanprogram dak bidang pendidikan tahun 2007 adalah pemerintah kabupaten/kota dan sekolah penerima dak bidang pendidikan di 33 provinsi yang tersebar di 434 kabupaten/kota. berdasarkan dari populasi yang sudah ditetapkan tersebut diatas ditetapkan jumlah sampel kabupaten/kota per provinsi ditentukan secara proporsional tergantung dari besar kecilnya jumlah kabupaten/kota di provinsi tersebut, dengan ketentuan sampel yang diambil mewakili kabupaten dan kota. pengambilan sampel sekolah di kabupaten/kota harus mewakili daerah maju dan daerah tertinggal. adapun khusus untuk daerah di provinsi maluku penetapan sampel berdasarkan sistem purposif sampling. jumlah kabupaten/kota di masing masing provinsi adalah 5 kabupaten/kota. dari masing-masing kabupaten/kota tersebut ditetapkan jumlah sekolah penerima dak sejumlah 10 sekolah per kabupaten/kota. dengan demikian jumlah keseluruhan sekolah yang akan di evaluasi pelaksanaan dak pendidikannya di provinsi maluku adalah 50 sekolah. hal ini mengingat kondisi provinsi maluku yang terdiri dari kepulauan dari masing-masing lokasi sekolah di tiap-tiap kabupaten/kota yang ada. rincian penetapan sampel sekolah di lokasi dapat dilihat di tabel 1. bupati/walikota menyampa1kan rencama definitif kepada kanwil direktorat jenderal perbendaharaam depkeu setempat bupat1/walikota membuka rekening khusus untuk menampung dana aloka51 khusus(dak) bupat1/wal1kota mehgajukam spp dana alokasi khusus(dak) dari transfer dak ditambah oana pendamping apbd (minimum 10%), dan biaya umum 3%, bupati/walikota menetapkan dan mendistribusikan dana dak ke sekolah kepala sekolah /madrasah melaksanakam kegiatam dak komite sekolah/ majelis madrasah dinas pendidikan , kantor depag, dewan pendidikan kabupaten/kota hasil evaluasi pelaksanaan .....(khoirul anwar) 165 tabel 1 sampel sekolah sasaran penelitian kabupaten/kota jumlah sekolah kab. pulau buru 10 kota ambon 10 kab. seram bagian barat 10 kab. seram bagian timur 10 kab. maluku tengah 10 jumlah kabupaten = 5 50 desain evaluasi secara garis besar kegiatan evaluasi terhadap pelaksanaan program pembangunan dak provinsi maluku pada tahun anggaran 2007 dapat di uraikan dalam bentuk indikator dan instrumen evaluasi tersebut. indikator evaluasi adalah penanda-penanda penting yang akan mengarahkan pertanyaan evaluasi ke arah tertentu agar dapat menjawab tujuan dari aktivitas evaluasi pelaksanaan dak pendidikan tahun 2007. dengan demikian, perumusan indikator evaluasi sangat berkaitan dengan pertanyaan yang akan ditujukan dalam evaluasi dan tujuan evaluasi yang ingin dicapai. seperti yang telah diuraikan di atas bahwa indikator evaluasi diharapkan dapat mengarahkan pertanyaan yang akan dilakukan di dalam pekerjaan evaluasi. bentuk pertanyaan tersebut dapat diwujudkan dalam suatu instrumen. sebagai alat bertanya, instrument dapat berbentuk daftar pertanyaan yang dituangkan dalam lembar kesioner untuk diisi oleh responden, atau daftar pertanyaan untuk diwawancarakan kepada responden. dengan demikian, instrumen evaluasi selalu berkaitan dengan pertanyaan apa yang diajukan, dan bagaimana cara mengajukan pertanyaan guna menjawab tujuan evaluasi. untuk itu program kerja peneliti perlu diwujudkan dalam bentuk program / desain evaluasi yang akan dilakukan. beberapa informasi yang dituangkan dalam penyusunan program / desain evaluasi haruslah dikoordinasidengan dengan stakeholder lainnya seperti: dinas pendidikan provinsi, dinas pendidikan kabupaten/kota (ttk), dewan pendidikan provinsi dan kabupaten/kota, serta pengelola program di tingkat sekolah (panitia pelaskana dak pendidikan). dalam penulisan evaluasi ini, indikator dan instrumen ditujukan kepada pihak dinas pendidikan dan sekolah. adapun bentuk desain evaluasi yang terdiri dari indikator beserta instrumen pertanyaan dapat dilihat pada tabel 2 dan 3. tabel 2 desain evaluasi untuk dinas pendidikan kabupaten/kota tahapan pelaksanaan dak indikator sumber data/ metode tahapan input • kesesuaian sdm dengan petunjuk teknis sumber data: dinas pendidikan metode: instrumen dan wawancara tahapan proses • kesesuaian tugas dan tanggungjawab pengelola program dak • kesesuaian mekanisme penyaluran dana subsidi dengan petujuk teknis • kesesuaian prinsip pengelolaan subsidi dak dengan petunjuk teknis sumber data: dinas pendidikan metode: instrumen dan wawancara tahapan output • kesesuaian dokumen yang dibuat pengelola dak dengan petunjuk teknis sumber data: dinas pendidikan metode: instrumen, dan wawancara 166 journal the winners, vol. 11 no. 2, september 2010: 160-178 tabel 3 desain evaluasi untuk sekolah tahapan pelaksanaan dak indikator sumber data/ metode tahapan input • kesesuaian kriteria sekolah dengan petunjuk teknis • kesesuaian kelengkapan administrasi dengan petunjuk teknis • kesesuaian jumlah, penggunaan, dan penyaluran dana dengan petunjuk teknis sumber data: kepala sekolah metode: instrumen dan wawancara tahapan proses • kesesuaian tugas dan tanggungjawab dengan petunjuk teknis • kesesuaian prinsip pengelolaan dengan petunjuk teknis • kesesuaian pengelolaan dana dengan petunjuk teknis • kesesuaian evaluasi dengan petunjuk teknis sumber data: kepala sekolah metode: instrumen dan wawancara tahapan output • kesesuaian kuantitas hasil pembangunan/rehabilitasi dengan petunjuk teknis • kesesuaian kualitas hasil pembangunan/rehabilitasi dengan petunjuk teknis • kesesuaian kuantitas pengadaan sarana dengan petunjuk teknis • kesesuaian kualitas pengadaan sarana dengan petunjuk teknis • kesesuaian pengelolaan sarana sekolah dengan ketentuan inventarisasi barang milik negara • kesesuaian pemanfaatan sarana sekolah dengan program peningkatan mutu pendidikan • kesesuaian laporan program dak dengan petunjuk teknis • kesesuaian tingkat partisipasi masyarakat dengan petunjuk teknis. sumber data: kepala sekolah guru non klk metode: instrumen, dan wawancara hasil dan pembahasan seperti diuraikan dalam bab terdahulu bahwa peneliti untuk menentukan hasil survei dan rekomendasi berdasarkan pekerjaan atau hasil dari penyebaran kuisioner dan wawancara di lapangan. hasil penulisan dari keadaan yang terjadi di lapangan dapat dibagi dalam 3 kelompok besar yaitu: pertama, hasil evaluasi dinas pendidikan kabupaten/kota dalam melaksanakan dak bidang pendidikan. kedua, hasil evaluasi dari masing masing sekolah dalam menerapkan dak bidang pendidikan di sekolah masing-masing. ketiga, hasil wawancara dengan masyarakat sekitar sekolah yang melaksanakan dak pendidikan di kabupaten/kota. hasil evaluasi ini diolah melalui kertas kerja yang merupakan kumpulan dari hasil kuesioner. kemudian hasil kuesioner tersebut di ringkas atau direkap untuk mendapatkan gambaran yang lebih ringkas dalam merumuskan suatu keadaan yang terjadi dilapangan untuk memudahkan dalam pengambilan keputusan atau rumusan keadaan yang terjadi di lapangan. dalam bagian tulisan ini disajikan data hasil evaluasi yang ada dilapangan yang telah diringkas dengan mengikuti bagian dan subagian dari desain evaluasi. tentunya rangkuman yang bersifat global ini tidak lepas dari rakapitulasi dari hasil kuesioner yang disebarkan ke dinas pendidikan dan sekolah serta masyarakat sekitar sekolah yang melaksanakan dak pendidikan tahun 2007 di provinsi maluku. lebih jelasnya data evaluasi (dalam lampiran) memuat rangkuman global dari hasil evaluasi tersebut diatas yang di mulai dari hasil evaluasi dinas, kemudian diikuti hasil evaluasi di sekolah pelaksana dak dan seterusnya. hasil evaluasi pelaksanaan .....(khoirul anwar) 167 berdasarkan hasil evaluasi dari dinas kota dan kabupaten di provinsi maluku, masih terdapat ketidaksesuaian dalam mekanisme pendistribusian dana ke sekolah. himbauan yang diajukan adalah sebaiknya penyaluran dana subsidi dilakukan denngan se dirjen perbendaharaan departemen keuangan dilakukan dalam 3 tahap saja (tidak 4 tahap seperti yang ada di sk). demikian juga terdapat temuan bahwa penyaluran / transfer dana subsidi kurang tepat waktu. sebagai contoh adalah untuk dak tahun 2007, ada dana yang diterima tanggal 28 desember 2007. masih dalam hal mekanisme penyaluran dana ke sekolah, hendaknya pencairan dana yang ditujukan kepada kepala sekolah bisa dipercepat kalau semua persyaratan bisa dipenuhi. dengan demikian, tugas dari sekolah-sekolah dalam mempersiapkan data administrasi sebelum penerimaan dana dak harus ditingkatkan ketelitian dan kelengkapannya. pihak pemda dalam pelaksanaan dak memohon diberikan kewenangan untuk mengatur tata cara pengelolaan dak. alasannya adalah karena pemda lebih mengetahui karakteristik daerahnya, dan kondisi geografis daerahnya serta menghindari kecemburuan antara kepala sekolah dan guru serta komite sekolah. hal ini didasari sering dijumpainya keadaan, di mana kepala sekolah sering meninggalkan tempat tugas hingga berminggu-minggu bahkan sampai berbulanbulan. selain itu, buku petunjuk teknis jangan sampai terlambat sampai di daerah sehingga pelaksanaan kegiatan bisa dipelajari dengan cepat dan mudah. buku juknis tersebut diharapkan bisa diterima oleh daerah pelaksana dak 3 bulan sebelum pelaksanaan dak tiap tahunnya. atas ketidaksiapan tersebut, masih dijumpainya dak untuk rehabilitasi sekolah digunakan untuk pembuatan ruangan kelas baru. ringkasan yang didapat berdasarkan penyebaran evaluasi ke sekolah adalah masih terdapat ketidaksesuaian antar pelaksanaan dak dengan petunjuk teknis. berikut ini temuantemuan dan berdasarkan hasil kunjungan di lapangan atau hasil kunjungan ke sekolah-sekolah penerima dana dak, yaitu (1) dana bantuan yang untuk buku seharusnya dibelanjakan oleh guru sekolah karena guru sekolah yang mengetahui kebutuhan anak didik setiap harinya; (2) banyak sekolah selama ini tidak melaksanakan dak dengan swa kelola sendiri, melainkan pelaksanaan dak pendidikan tahun 2007 dilakukan oleh kontraktor; (3) dana dak hendaknya dimasukkan ke dalam rekening sekolah. banyak permohonan untuk tahun 2009 nanti dak langsung dikirim ke rekening sekolah; (4) gedung yang dibangun di tahun 2007 dengan menggunakan dak banyak yang tidak relevan. contohnya adalah mebel air tidak ada / ada tali kurang kuat dan tidak bertahan lama. alat-alat penunjang belajar mengajar pun juga tidak ada. jika adapun tidak memenuhi standar atau harapan dari guru yang melaksanakan proses kegiatan belajar mengajar sehari-hari; (5) rangkuman yang didapat dari isian kuesioner menggambarkan adanya ketidaktransparanan pembangunan antara diknas dengan komite sekolah dan kepala sekolah. diharapkan pembangunan atau rehabilitasi sekolah harus melibatkan kepala sekolah dan komite sekolah; (6) keterlibatan masyarakat tidak optimal seperti yang diharapkan dalam juknis. banyak sekolah hanya menerima bangunan sekolah yang sudah rampung karena yang mengerjakan orang lain di luar masyarakat sekitar sekolah. hal ini sudah menyalahi aturan komitmen awal antara komite sekolah dan masyarakat sekitar; (7) terdapat kenyataan bahwa bangunan yang direhab tidak sesuai dengan rancana awal dengan alasan dana tidak mencukupi; (8) beberapa temuan mengenai pihak sekolah hanya menerima hasil jadi karena yang mengelola pembangunan dari pihak yang mempunyai kewenangan, dalam hal ini diknas pendidikan. pihak sekolah hanya ikut menandatangani pertanggungjawaban penggunaan dana, jadi bukan sebagai pengelola dana untuk rehabilitasi sekolah; (9) terdapat pembangunan ruang baru dibangun dengan menggunakan dana dak, namun hal ini sudah disetujui oleh komite sekolah, mengingat ruang kelas yang sudah ada tidak menampung lagi kemauan masyarakat untuk menyekolahkan anaknya di bangku sekolah; (10) tahap penyaluran dana ada yang tidak tepat waktu sesuai dengan waktu yang sudah ditentukan. terdapat sampai tahun 2008 baru penyaluran dana ke rekening sekolah; (11) masyarakat tidak terlibat dalam penggunaan dak karena ada yang berpendapat bahwa rehabilitasi gedung sekolah adalah tanggung jawab pemerintah; (12) kode inventarisasi barang milik sekolah atau milik negara juga sangat minim sehingga kurang sesuai dengan petunjuk teknis dak; (13) kenaikan harga bahan material sangatlah drastis dan bisa terjadi sewaktu-waktu, khususnya untuk daerah indonesia bagian timur. untuk itu, banyak hasil output yang kurang sesuai dengan rencana 168 journal the winners, vol. 11 no. 2, september 2010: 160-178 dan petunjuk teknis dikarenakan dana sudah habis; (14) masih terdepat di beberapa sekolah kurang tertib administrasi seperti pertanggungjawaban keuangan dan bukti keuangan. namun, bila dilihat dari proses fisik yang ditunjukkan dengan foto proses rehabilitasi, kegiatan dak kelihatan dilakukan sesuai tujuan, yaitu rehabilitasi dan peningkatan mutu peneieikan; (15) pekerjaan fisik rehabilitasi masih ada yang kurang sesuai dengan petunjuk teknis seperti kelistrikan, sanitasi, dan rehabilitasi kamar mandi/wc. simpulan setelah menmpelajari dan mengkompilasi hasil evaluasi kegiatan penyaluran dana untuk kegiatan dak pendidikan di tahun 2007, maka penulis merasa perlu untuk menyimpulkan keadaan yang terdapat dilapangan baik itu keadaan dan kondisi di dinas pendidikan kabupaten/kota maupun kaadaan dan kondisi pelaksanaan dak di lingkungan sekolah penerima dak. secara keseluruhan dari kegiatan dak pendidikan tahun 2007 di provinsi maluku , pelaksanannya telah sesuai dengan petunjuk teknis pelaksanaan dak pendidikan tahun 2007 namun, pelaksanaan dilapangan masih ditemukannya beberapa kejadian atau proses yang kurang sesuai dengan petunjuk teknis pelaksanaan dak pendidikan tahun 2007. untuk itu perlu kiranya penulis menyampaikan saran dan rekomendasi. saran dan rekomendasi untuk dinas pendidikan kabupaten/kota adalah (1) pelaksanaan dak pendidikan harus sepenuhnya dikelola oleh sekolah dan komite sekolah agar pelaksanaannya tidak menyalahi petunjuk teknis pelaksanaan dak pendidikan; (2) buku pelajaran dan referensi seharusnya dibelanjakan oleh guru sekolah karena guru sekolah yang mengetahui kebutuhan anak didik setiap harinya dan kurikulum yang berlaku; (3) dana dak hendakya di masukkan dalam rekening sekolah tepat waktu sehingga pelaksanaan dan pertanggung jawaban dak pendidikan juga bisa tepat waktu tanpa ada kendala; (4) ketepatan waktu yang disinggung pada butir 3 tersebut untuk mengantisipasi melonjakknya harga-harga baik material dan non material. semakin lama realisasi dak semakin besar kemungkinan perbedaan harga antara usulan perencanaan dan reaslisasi; (5) dana untuk keperluan dak haruslah dikelola dan masuk rekening sekolah. saran dan rekomendasi untuk sekolah adalah (1) pengadaan sarana dan prasarana belajar mengajar haruslah dari bahan material dengan harga yang sesuai namun mempunyai kualitas daya tahan lama, hal ini mengingat aktifitas anak-anak pada saat belajar sangat tinggi; (2) untuk mewujudkan transparansi pelaksanaan dak pendidikan, disarankan pembangunan atau rehabilitasi sekolah harus melibatkan kepala sekolah dan komite sekolah serta masyarakat sekitar; (3) sosialisasi terhadap masyarakat atas pelaksanaan kegiatan dak pendidikan oleh sekolah haruslah jelas; (4) pihak sekolah haruslah terlibat dalam pembangunan rehabilatsi sekolah termasuk juga pertangung jawaban administrasi keuangannya; (5) seoptimal mungkin dana yang ada untuk merehabilitasi sekolah, bukannyauntuk pembangunan ruangan baru, hal ini agar sesuai pertanggung jawaban dengan rencana pembangunan semula; (6) administrasi barang milik negara harus jelas. termasuk dalam hal ini adalah kode inventarisasi barang milik sekolah atau milik negara; (7) pertanggung jawaban pelaksanaan dak tidak hanya sebatas photo-photo kegiatan, namun lebih penting lagi adalah pertanggung jawaban administrasi serta bukti-bukti keuangan; (8) pekerjaan fisik rehabilitasi disarankan tidak menyalahi petunjuk teknis, seperti kelistrikan, sanitasi, dan rehabilitasi kamar mandi/wc. hasil evaluasi pelaksanaan .....(khoirul anwar) 169 daftar pustaka anonim. (2007). apbn ri: pelaksanaan program dana alokasi khusus (dak) dan petunjuk teknisnya. bastian, i. (2006a). akuntansi sektor publik: suatu pengantar. jakarta: erlangga. bastian, i. (2006b). sistem akuntansi sektor publik (edisi 2). jakarta: salemba empat. bastian, i. (2007). audit sektor publik (edisi 2). jakarta: salemba empat. cahyat, a. (2004). sistem pengawasan terhadap penyelenggaraan pemerintahan daerah kabupaten:pembahasan peraturan perundangan di bidang pengawasan. governance brief, buletin cifor, nomor 3. mahmudi. (2005). manajemen kinerja sektor publik, edisi i, yogyakarta : upp amp ykpn republik indonesia. 2003. undang-undang no. 17 tahun 2004 tentang keuangan negara. lembaran negara republik indonesia tahun 2003 nomor 47. sekretariat negara. republik indonesia. 2004. undang-undang no. 1 tahun 2004 tentang perbendaharaan negara. lembaran negara republik indonesia tahun 2004 nomor 5. sekretariat negara. republik indonesia. 2004. undang-undang no. 15 tahun 2004 tentang pemeriksaan pengelolaan dan tanggung jawab keuangan negara. lembaran negara republik indonesia tahun 2004 nomor 66. sekretariat negara. 170 journal the winners, vol. 11 no. 2, september 2010: 160-178 lampiran tabel a.1 keterangan kegiatan dak di provinsi maluku keterangan kegiatan dak dinas kab/kota 1 2 3 4 5 i. tahapan input a. kesesuaian sumber daya manusia dengan petunjuk teknis s s s s s ii. tahapan proses a.kesesuaian tugas dan tanggung jawab pengelola program dak k s s s s b.kesesuaian mekanisme penyaluran dana subsidi dak bidang pendidikan dengan petunjuk teknis t s s k k c.kesesuaian prinsip pengelolaan subsidi dak bidang pendidikan dengan petunjuk teknis s s s s s iii tahapan output a.kesesuaian dokumen yang dibuat pengelola program dak bidang pendidikan dengan petunjuk teknis s s s s s total score 12 15 15 15 14 kategori penilaian penyeluruh k s s s s catatan kategori unit score: s = sesuai dengan petunjuk teknis (score 3) k = kurang sesuai dengan petunjuk teknis (score 2) t = tidak sesuai dengan petu njuk teknis (score 1) catatan penilaian menyeluruh: maximum score = 15 s = (15 * 81%) s/d (15 * 100%) = 12,1 s/d 15 k = (15 * 41%) s/d (15 * 80%) = 6,1 s/d 12 t = 0 (15 *40%) = 0 s/d 6 hasil evaluasi pelaksanaan .....(khoirul anwar) 171 tabel a.2 hasil evaluasi pelaksanaan program dak pendidikan di kabupaten maluku tengah keterangan kegiatan dak evaluasi sekolah 1 2 3 4 5 6 7 8 9 10 i. tahapan input a. kesesuaian kriteria sekolah sasaran program dak dengan petunjuk teknis a. kesesuaian kriteria sekolah sasaran program dak dengan petunjuk teknis k s s k s s k s s k b. kesesuaian kelengkapan administrasi pelaksanaan program dak dengan petunjuk teknis t k k t s s k s s s c. kesesuaian jumlah, penggunaan dan penyaluran dana dengan petunjuk teknis k k k t s s s k k k d. kesesuaian sdm pelaksana program dak dengan petunjuk teknis t t s t s s s k s s ii. tahapan proses a. kesesuaian tugas dan tanggung jawab pelaksana dak dengan dengan petunjuk teknis 1. kepala sekolah k k s t s s s s s s 2. komite sekolah t t k t s s s s s s b. kesesuaian prinsip pengelolaan program dak dengan petunjuk teknis k k k k s s s k k t c. kesesuaian pengelolaan dana program dak dengan petunjuk teknis k t k k s s s s s t d. kesesuaian pemantauan dan evaluasi dengan petunjuk teknis s k s s s s t s s s iii tahapan output a. kesesuaian kuantitas hasil pekerjaan pembangunan/rehabilitasi gedung sekolah dengan dokumen perencanan t t t k t t t t k t b. kesesuaian kualitas hasil pekerjaan pembangunan/rehabilitasi gedung sekolah dengan persyaratan teknis/dokumen perencanan 1. pekerjaan pondasi s s s s s s s s s s 2. pekerjaan dinding 2.1. dinding tembok s s s s s s s s s s 2.2. dinding kayu 3. pekerjaan beton (struktur) s s s s s s s s s s 4. pekerjaan kusen, daun pintu, dan jendela s s s s s s s k s s 5. pekerjaan penggantuing, pengunci dan kaca s s s s s s s k s s 6. pekerjaan lantai dan penutup lantai 6.1. lantai plesteran, tegel, keramik s s s s s s s s s s 6.2. lantai kayu 7. pekerjaan atap s s s s s s s s s s 8. pekerjaan langit-langit s s s s s s s s s s 9. pekerjaan listrik s t s t s s s t s s 10. pekerjaan sumber air bersih, sanitasi, dan km/wc s t s t s s s s s s 11. pekerjaan pengecatan s s s s s s s s s s 12. pengadaan meubelair ruang kelas s t s t t s t t s t c. kesesuaian kuantitas pekerjaan pengadaan sarana sekolah dgn petunjuk teknis 1. alat peraga pendidikan s s s s s s s s s s 2. buku pengayaan dan referensi s s s s s s s s s t 3. alat multimedia dan mesin ketik manual peraga pendidikan s t s s s s t t t t d. kesesuaian kualitas pengadaan sarana sekolah dengan petunjuk teknis 1. alat peraga pendidikan s s s k s s s s s s 2. buku pengayaan dan referensi s s s s s s s s s s 3. alat multimedia dan mesin ketik manual peraga pendidikan s s s k s s t t t t e. kesesuaian pengelolaan sarana sekolah dengan ketentuan inventarisasi barang 1. alat peraga pendidikan s s s t t t t t t t 2. buku pengayaan dan referensi s s s t t t t t t t 3. alat multimedia dan mesin ketik manual peraga pendidikan s s s t t t t t t t f. kesesuaian pemanfaatan sarana sekolah dengan program peningkatan mutu pendidikan 1. alat peraga pendidikan s s s s s s s s s s 2. buku pengayaan dan referensi s s s s s s s s s s 3. alat multimedia dan mesin ketik manual peraga pendidikan s t s s s s t t k t g. kesesuaian laporan akhir program dak bidang pendidikan dengan petunjuk teknis 1. dokumen administrasi s k s s s s s s s s 2. dokumen teknis dan biaya s s s t s s s k t s 3. dokumen keuangan s k k t k k k k s s h. kesesuaian tingkat partisipasi masyarakat dengan petunjuk teknis t t k t k k k t k k total score 99 87 105 80 102 104 92 87 97 89 katagori penilaian penyeluruh s k s k s s s k s k 172 journal the winners, vol. 11 no. 2, september 2010: 160-178 catatan kategori unit score: s = sesuai dengan petunjuk teknis (score 3) k = kurang sesuai dengan petunjuk teknis (score 2) t = tidak sesuai dengan petu njuk teknis (score 1) catatan penilaian menyeluruh: maximum score = 114 s = (114 * 81%) s/d (114 * 100%) = 92 s/d 114 k = (114* 41%) s/d (114 * 80%) = 46 s/d 91,9 t = 0 (114 *40%) = 0 s/d 45,9 tabel a.3 hasil evaluasi pelaksanaan program dak pendidikan di kota ambon keterangan kegiatan dak evaluasi sekolah 1 2 3 4 5 6 7 8 9 10 i. tahapan input a. kesesuaian kriteria sekolah sasaran program dak dengan petunjuk a. kesesuaian kriteria sekolah sasaran program dak dengan petunjuk teknis s k k k k k k k k s b. kesesuaian kelengkapan administrasi pelaksanaan program dak dengan petunjuk teknis s s s s s s s s s s c. kesesuaian jumlah, penggunaan dan penyaluran dana dengan petunjuk teknis s s s s s s s s s s d. kesesuaian sdm pelaksana program dak dengan petunjuk teknis s s s s s s s s s s ii. tahapan proses a. kesesuaian tugas dan tanggung jawab pelaksana dak dengan petunjuk teknis 1. kepala sekolah s k k k k k k k k k 2. komite sekolah s s s s s s s s s s b. kesesuaian prinsip pengelolaan program dak dengan petunjuk teknis s s s s s s s s s s c. kesesuaian pengelolaan dana program dak dengan petunjuk teknis s s s s s s s s s s d. kesesuaian pemantauan dan evaluasi dengan petunjuk teknis s s s s s s s s s s iii tahapan output a. kesesuaian kuantitas hasil pekerjaan pembangunan/rehabilitasi gedung sekolah dengan dokumen perencanan s s s s s s s s s s b. kesesuaian kualitas hasil pekerjaan pembangunan/rehabilitasi gedung sekolah dengan persyaratan teknis/dokumen perencanan 1. pekerjaan pondasi s s s s s s s s s s 2. pekerjaan dinding 2.1. dinding tembok s s s s s s s s s s 2.2. dinding kayu 3. pekerjaan beton (struktur) s s s s s s s s s s 4. pekerjaan kusen, daun pintu, dan jendela s s s s s s s s s s 5. pekerjaan penggantuing, pengunci dan kaca s s s s s s s s s s 6. pekerjaan lantai dan penutup lantai 6.1. lantai plesteran, tegel, keramik s s s s s s s s s s 6.2. lantai kayu 7. pekerjaan atap s s s s s s s s s s 8. pekerjaan langit-langit s s s s s s s s s s 9. pekerjaan listrik s s s s s s s s s s 10. pekerjaan sumber air bersih, sanitasi, dan km/wc s s s s s s s s s s 11. pekerjaan pengecatan s s s s s s s s s s 12. pengadaan meubelair ruang kelas s s s s s s s s s s c. kesesuaian kuantitas pekerjaan pengadaan sarana sekolah dgn petunjuk teknis 1. alat peraga pendidikan s s s s s s s s s s 2. buku pengayaan dan referensi s s s s s s s s s s 3. alat multimedia dan mesin ketik manual peraga pendidikan s s s s s s s s s s d. kesesuaian kualitas pengadaan sarana sekolah dengan petunjuk teknis 1. alat peraga pendidikan s s s s s s s s s s 2. buku pengayaan dan referensi s s s s s s s s s s 3. alat multimedia dan mesin ketik manual peraga pendidikan s s s s s s s s s s e. kesesuaian pengelolaan sarana sekolah dengan ketentuan inventarisasi barang milik negara hasil evaluasi pelaksanaan .....(khoirul anwar) 173 tabel a.3 hasil evaluasi pelaksanaan program dak pendidikan di kota ambon (lanjutan) keterangan kegiatan dak evaluasi sekolah 1 2 3 4 5 6 7 8 9 10 1. alat peraga pendidikan s s s s s s s s s s 2. buku pengayaan dan referensi s s s s s s s s s s 3. alat multimedia dan mesin ketik manual peraga pendidikan s s s s s s s s s s f. kesesuaian pemanfaatan sarana sekolah dengan program peningkatan mutu pendidikan 1. alat peraga pendidikan s s s s s s s s s s 2. buku pengayaan dan referensi s s s s s s s s s s 3. alat multimedia dan mesin ketik manual peraga pendidikan s s s s s s s s s s g. kesesuaian laporan akhir program dak bidang pendidikan dengan petunjuk teknis 1. dokumen administrasi s s s s s s s s s s 2. dokumen teknis dan biaya s s s s s s s s s s 3. dokumen keuangan s s s k k k k k k s h. kesesuaian tingkat partisipasi masyarakat dengan petunjuk teknis s k k k k k k k k k total score 114 111 113 110 111 111 111 110 110 112 kategori penilaian menyeluruh s s s s s s s s s s catatan kategori unit score: s = sesuai dengan petunjuk teknis (score 3) k = kurang sesuai dengan petunjuk teknis (score 2) t = tidak sesuai dengan petu njuk teknis (score 1) catatan penilaian menyeluruh: maximum score = 114 s = (114 * 81%) s/d (114 * 100%) = 92 s/d 114 k = (114* 41%) s/d (114 * 80%) = 46 s/d 91,9 t = 0 (114 *40%) = 0 s/d 45,9 174 journal the winners, vol. 11 no. 2, september 2010: 160-178 tabel a.4 hasil evaluasi pelaksanaan program dak pendidikan di kabupaten seram barat keterangan kegiatan dak evaluasi sekolah 1 2 3 4 5 6 7 8 9 10 i. tahapan input a k i k it i k l h dak d t j k t k i a. kesesuaian kriteria sekolah sasaran program dak dengan petunjuk teknis k s s k k k s s s s b. kesesuaian kelengkapan administrasi pelaksanaan program dak dengan petunjuk teknis s s s s s s s s s s c. kesesuaian jumlah, penggunaan dan penyaluran dana dengan petunjuk teknis s s s s s s s s s s d. kesesuaian sdm pelaksana program dak dengan petunjuk teknis s s s s s s s s s s ii. tahapan proses a. kesesuaian tugas dan tanggung jawab pelaksana dak dengan dengan petunjuk teknis 1. kepala sekolah s s s s s s s s s s 2. komite sekolah s s s s s s s s s s b. kesesuaian prinsip pengelolaan program dak dengan petunjuk teknis t t s k s s s s k s c. kesesuaian pengelolaan dana program dak dengan petunjuk teknis s s k s s s s s k s d. kesesuaian pemantauan dan evaluasi dengan petunjuk teknis t s s s s s s s s s iii tahapan output a. kesesuaian kuantitas hasil pekerjaan pembangunan/rehabilitasi gedung sekolah dengan dokumen perencanan k s s t s s s s t k b. kesesuaian kualitas hasil pekerjaan pembangunan/rehabilitasi gedung sekolah dengan persyaratan teknis/dokumen perencanan 1. pekerjaan pondasi s s s s s s s s s s 2. pekerjaan dinding 2.1. dinding tembok s s s s s s s s s s 2.2. dinding kayu 3. pekerjaan beton (struktur) s s s s s s s s s s 4. pekerjaan kusen, daun pintu, dan jendela s s s s s s s s s s 5. pekerjaan penggantuing, pengunci dan kaca s s s s s s s s s s 6. pekerjaan lantai dan penutup lantai 6.1. lantai plesteran, tegel, keramik s s s s s s s s s s 6.2. lantai kayu 7. pekerjaan atap s s s s s s s s s s 8. pekerjaan langit-langit s s s s s s s s s s 9. pekerjaan listrik s s s s s s s s s s 10. pekerjaan sumber air bersih, sanitasi, dan km/wc s s t s s s s s s s 11. pekerjaan pengecatan s s s s s s s s s s 12. pengadaan meubelair ruang kelas s s t s s s s s t s c. kesesuaian kuantitas pekerjaan pengadaan sarana sekolah dgn petunjuk teknis 1. alat peraga pendidikan s s s s s s s s s s 2. buku pengayaan dan referensi s s s s s s s s s s 3. alat multimedia dan mesin ketik manual peraga pendidikan s s s s s s s s s s d. kesesuaian kualitas pengadaan sarana sekolah dengan petunjuk teknis 1. alat peraga pendidikan s s s s s s s s s s 2. buku pengayaan dan referensi s s s s s s s s s s 3. alat multimedia dan mesin ketik manual peraga pendidikan s s s s s s s s s s e. kesesuaian pengelolaan sarana sekolah dengan ketentuan inventarisasi barang negara 1. alat peraga pendidikan s s s s s s s s s s 2. buku pengayaan dan referensi s s s s s s s s s s 3. alat multimedia dan mesin ketik manual peraga pendidikan s s s s s s s s s s f. kesesuaian pemanfaatan sarana sekolah dengan program peningkatan mutu pendidikan 1. alat peraga pendidikan s s s s s s s s s s 2. buku pengayaan dan referensi s s s s s s s s s s 3. alat multimedia dan mesin ketik manual peraga pendidikan s s s s s s s s s s g. kesesuaian laporan akhir program dak bidang pendidikan dengan petunjuk teknis 1. dokumen administrasi s s s s s s s s k s 2. dokumen teknis dan biaya s s s s s s s s s s 3. dokumen keuangan k k k s s k k k k s h. kesesuaian tingkat partisipasi masyarakat dengan petunjuk teknis k k k k t t t t t k total score 106 110 107 109 111 110 111 111 104 112 kategori penilaian menyeluruh s s s s s s s s s s hasil evaluasi pelaksanaan .....(khoirul anwar) 175 catatan kategori unit score: s = sesuai dengan petunjuk teknis (score 3) k = kurang sesuai dengan petunjuk teknis (score 2) t = tidak sesuai dengan petu njuk teknis (score 1) catatan penilaian menyeluruh: maximum score = 114 s = (114 * 81%) s/d (114 * 100%) = 92 s/d 114 k = (114* 41%) s/d (114 * 80%) = 46 s/d 91,9 t = 0 (114 *40%) = 0 s/d 45,9 tabel a.5 hasil evaluasi pelaksanaan program dak pendidikan di kabupaten seram timur keterangan kegiatan dak evaluasi sekolah 1 2 3 4 5 6 7 8 9 10 i. tahapan input a k i k it i k l h dak d t j k t k i a. kesesuaian kriteria sekolah sasaran program dak dengan petunjuk teknis k s s s s k k k k s b. kesesuaian kelengkapan administrasi pelaksanaan program dak dengan petunjuk teknis k k s k k s k s k s c. kesesuaian jumlah, penggunaan dan penyaluran dana dengan petunjuk teknis k s k t t s s s s k d. kesesuaian sdm pelaksana program dak dengan petunjuk teknis t s s t t t s s s t ii. tahapan proses a. kesesuaian tugas dan tanggung jawab pelaksana dak dengan dengan petunjuk teknis 1. kepala sekolah k k s t k k k s k k 2. komite sekolah k s s t k k k s k k b. kesesuaian prinsip pengelolaan program dak dengan petunjuk teknis t s k t t s s s s s c. kesesuaian pengelolaan dana program dak dengan petunjuk teknis t t s t s s s s s s d. kesesuaian pemantauan dan evaluasi dengan petunjuk teknis s s s t s s s s s s iii tahapan output a. kesesuaian kuantitas hasil pekerjaan pembangunan/rehabilitasi gedung sekolah dengan dokumen perencanan t t k t k k t t k k b. kesesuaian kualitas hasil pekerjaan pembangunan/rehabilitasi gedung sekolah dengan persyaratan teknis/dokumen perencanan 1. pekerjaan pondasi s s s s s s s s s s 2. pekerjaan dinding 2.1. dinding tembok s s s s s s s s s s 2.2. dinding kayu 3. pekerjaan beton (struktur) s s s s s s s s s s 4. pekerjaan kusen, daun pintu, dan jendela s s s s s s s s s s 5. pekerjaan penggantuing, pengunci dan kaca s s s s s s s s s s 6. pekerjaan lantai dan penutup lantai 6.1. lantai plesteran, tegel, keramik s s s s s s s s s s 6.2. lantai kayu 7. pekerjaan atap s s s s s s s s s s 8. pekerjaan langit-langit s s s s s s s s s s 9. pekerjaan listrik s s k t s t k t k s 10. pekerjaan sumber air bersih, sanitasi, dan km/wc t t s t s t k k k s 11. pekerjaan pengecatan s s s s s s s s s s 12. pengadaan meubelair ruang kelas t t s t s t k t k s c. kesesuaian kuantitas pekerjaan pengadaan sarana sekolah dgn petunjuk teknis 1. alat peraga pendidikan k k s s s k s s s s 2. buku pengayaan dan referensi k k s s s k s s s s 3. alat multimedia dan mesin ketik manual peraga pendidikan s s s s s k s s s s d. kesesuaian kualitas pengadaan sarana sekolah dengan petunjuk teknis 1. alat peraga pendidikan s k s s s s s k k s 2. buku pengayaan dan referensi s s s s s s s s s s 3. alat multimedia dan mesin ketik manual peraga pendidikan s s s s s s s k s s 176 journal the winners, vol. 11 no. 2, september 2010: 160-178 tabel a.5 hasil evaluasi pelaksanaan program dak pendidikan di kabupaten seram timur (lanjutan) keterangan kegiatan dak evaluasi sekolah 1 2 3 4 5 6 7 8 9 10 e. kesesuaian pengelolaan sarana sekolah dengan ketentuan inventarisasi barang milik egara 1. alat peraga pendidikan s s s s s s s s s s 2. buku pengayaan dan referensi s s s s s s s s s s 3. alat multimedia dan mesin ketik manual peraga pendidikan s s s s s s s s s s f. kesesuaian pemanfaatan sarana sekolah dengan program peningkatan mutu pendidikan 1. alat peraga pendidikan s s s s s s s s s s 2. buku pengayaan dan referensi s s s s s s s s s s 3. alat multimedia dan mesin ketik manual peraga pendidikan s s s s s s s s s s g. kesesuaian laporan akhir program dak bidang pendidikan dengan petunjuk teknis 1. dokumen administrasi k k s s k s s k k s 2. dokumen teknis dan biaya t t s s t t k k k t 3. dokumen keuangan t t s t t t t t k t h. kesesuaian tingkat partisipasi masyarakat dengan petunjuk teknis t t t t t t t t k t total score 88 94 108 87 97 93 100 98 101 102 kategori penilaian menyeluruh k s s k s s s s s s catatan kategori unit score: s = sesuai dengan petunjuk teknis (score 3) k = kurang sesuai dengan petunjuk teknis (score 2) t = tidak sesuai dengan petu njuk teknis (score 1) catatan penilaian menyeluruh: maximum score = 114 s = (114 * 81%) s/d (114 * 100%) = 92 s/d 114 k = (114* 41%) s/d (114 * 80%) = 46 s/d 91,9 t = 0 (114 *40%) = 0 s/d 45,9 hasil evaluasi pelaksanaan .....(khoirul anwar) 177 tabel a.6 hasil evaluasi pelaksanaan program dak pendidikan di kabupaten kepulauan buru keterangan kegiatan dak evaluasi sekolah 1 2 3 4 5 6 7 8 9 10 i. tahapan input a k i k it i k l h dak d t j k t k i a. kesesuaian kriteria sekolah sasaran program dak dengan petunjuk teknis k s s s s k k k k s b. kesesuaian kelengkapan administrasi pelaksanaan program dak dengan petunjuk teknis s k s k k s k s k s c. kesesuaian jumlah, penggunaan dan penyaluran dana dengan petunjuk teknis s s k t t s s s s k d. kesesuaian sdm pelaksana program dak dengan petunjuk teknis t s s t t t s s s t ii. tahapan proses a. kesesuaian tugas dan tanggung jawab pelaksana dak dengan petunjuk teknis 1. kepala sekolah k k s t k k k k k k 2. komite sekolah k s s t k s k s k k b. kesesuaian prinsip pengelolaan program dak dengan petunjuk teknis t s k k t s s s s s c. kesesuaian pengelolaan dana program dak dengan petunjuk teknis t s s k s s k k s s d. kesesuaian pemantauan dan evaluasi dengan petunjuk teknis s s s t s s s s s s iii tahapan output a. kesesuaian kuantitas hasil pekerjaan pembangunan/rehabilitasi gedung sekolah dengan dokumen perencanan t t k t k k k k k k b. kesesuaian kualitas hasil pekerjaan pembangunan/rehabilitasi gedung sekolah dengan persyaratan teknis/dokumen perencanan 1. pekerjaan pondasi s s s s s s s s s s 2. pekerjaan dinding 2.1. dinding tembok s s s s s s s s s s 2.2. dinding kayu 3. pekerjaan beton (struktur) s s s s s s s s s s 4. pekerjaan kusen, daun pintu, dan jendela s s s s s s s s s s 5. pekerjaan penggantuing, pengunci dan kaca s s s s s s s s s s 6. pekerjaan lantai dan penutup lantai 6.1. lantai plesteran, tegel, keramik s s s s s s s s s s 6.2. lantai kayu 7. pekerjaan atap s s s s s s s s s s 8. pekerjaan langit-langit s s s s s s s s s s 9. pekerjaan listrik s s k t s t k t k s 10. pekerjaan sumber air bersih, sanitasi, dan km/wc t t s t s t k k k s 11. pekerjaan pengecatan s s s s s s s s s s 12. pengadaan meubelair ruang kelas t t s t s t k t k s c. kesesuaian kuantitas pekerjaan pengadaan sarana sekolah dgn petunjuk teknis 1. alat peraga pendidikan k k s s s k s s s s 2. buku pengayaan dan referensi k k s s s s s s s s 3. alat multimedia dan mesin ketik manual peraga pendidikan s s s s s s s s s s d. kesesuaian kualitas pengadaan sarana sekolah dengan petunjuk teknis 1. alat peraga pendidikan s k s s s s s k k s 2. buku pengayaan dan referensi s s s s s s s s s s 3. alat multimedia dan mesin ketik manual peraga pendidikan s s s s s s s s s s e. kesesuaian pengelolaan sarana sekolah dengan ketentuan inventarisasi barang mlk negara 1. alat peraga pendidikan s s s s s s s s s s 2. buku pengayaan dan referensi s s s s s s s s s s 3. alat multimedia dan mesin ketik manual peraga pendidikan s s s s s s s s s s f. kesesuaian pemanfaatan sarana sekolah dengan program peningkatan mutu pendidikan 1. alat peraga pendidikan s s s s s s s s s s 2. buku pengayaan dan referensi s s s s s s s s s s 3. alat multimedia dan mesin ketik manual peraga pendidikan s s s s s s s s s s g. kesesuaian laporan akhir program dak bidang pendidikan dengan petunjuk teknis 1. dokumen administrasi s s s s s s s k s s 2. dokumen teknis dan biaya k s s s k k k k k k 3. dokumen keuangan t t s t t t t t t k h. kesesuaian tingkat partisipasi masyarakat dengan petunjuk teknis t t t t t t t t t t total score 92 99 108 89 99 97 100 98 100 104 kategori penilaian menyeluruh s s s k s s s s s s 178 journal the winners, vol. 11 no. 2, september 2010: 160-178 catatan kategori unit score s = sesuai dengan petunjuk teknis (score 3) k = kurang sesuai dengan petunjuk teknis (score 2) t = tidak sesuai dengan petu njuk teknis (score 1) catatan penilaian menyeluruh maximum score = 114 s = (114 * 81%) s/d (114 * 100%) = 92 s/d 114 k = (114* 41%) s/d (114 * 80%) = 46 s/d 91,9 t = 0 (114 *40%) = 0 s/d 45,9 influence analysis of dps …… (sebastianus laurens) 21 influence analysis of dps, eps, and pbv toward stock price and return sebastianus laurens accounting departement, faculty of economics & communication, bina nusantara university jl. k. h. syahdan no. 9, palmerah, jakarta 11480, indonesia laurens_setiadi@yahoo.com abstract the research revealed whether there was a significant influence of dps, eps, and pbv towards stock price and return. this research used a quantitative method to determine the influence of the independent variable towards the dependent variable. the quantitative analysis was conducted with statistic technic called multiple linear regression with data taken from indonesia capital market directory year 2005 and 2008. the result shows similar results with the previous research that there is no influence between dps and stock price as well as there is an influence on stock return. eps shows that there is influence of stock price and return. for pbv, there is an influence on stock price, but there is no an influence on stock return. keywords: dps, eps, pbv, stock price and return introduction the year of 2008 was a challenging year for the world of financial community including the indonesia stock exchange and indonesian capital market investors. the global financial crisis that originated from the subprime mortgage crisis in the united states had a wide impact on the world financial sector including indonesia. the us crisis affects the capital market in indonesia where the dow jones industrial average plays the greater role in explaining the ihsg that is compared to rupiah rate, production index, and the trade income law (nezky, 2013). it showed that form the performance of composite stock price index (ihsg) indonesia stock exchange (bei) which had been decreased significantly in recent months. the peak had occurred on wednesday, october 8, 2008, where ihsg corrected by 10,38% to touch the level of 1.451.67 and bapepam lk (today is ojk) as the stock market regulator had to intervene or to suspend the trade when the volatility exceeded the psychological threshold. facing the declining year of 2008 conditions, to become a short-term trader was no longer an option, the traders would have to swift the risk appetite to a long-term investment. the long-term investors started to purchase stocks that were still cheap and promising for future prospects, of course a good fundamentally stock could be a good preference. the fastest rebound stock was the most preferred stock by the market or the top layer stock. the search for listed companies that have those characteristics can be found in index lq 45. this index is an index based on the liquidity and market capitalization benchmarks. the listed companies in lq 45 index will be changed periodically based on the performance of the transaction of its stock and will be declared by the circular of indonesia stock exchange in every january and july. it is in the lq45 index because basically when investors invest assets in the long-term portfolio, they will expect two things. the first is the dividend and an increase in stock price itself or known as capital gain. the errors of wrong-chosen stock will cost the investors lots of funds and opportunities. 22 journal the winners, vol. 19 no. 1, march 2018: 21-29 converting from short-term investors to long-term investors require a deep fundamental analysis. the problems are there are many factors and variables to comprehend and the broad of analysis scope. this research will straightforwardly focus on the stock return. therefore, it will examine the influence of dividend per share, earning per share and price to book value ratio toward the stock return. the researcher next will elaborate the use all three ratios in this article. dividend per share (dps) is the sum of declared dividends issued by a public listed company’s share outstanding. dps is vital because the number one goal of a company is to return value to its shareholders. investors receive value through dividend payments and the price of the stock itself, which is equal to a company’s total expected future dividend payments. dps can be calculated by the following. first, a company’s net income per share is derived as net income divided by outstanding shares. second, the dps is taken as net income per share times the payout ratio. the payout ratio is a result of income paid in dividends divided by the total net income. the dps has influenced the stock price because the public listed company which has not paid the dividend will be followed by decreasing of its stock price. they are stamped as bad news by the market as “non-prosper” companies for long-term investment. in fact, there are reasons why they do not share their dividend because of the maximizing of the investment. in doing so, it will grow the company and eventually will increase the stock price. the public listed companies also realized that investors pay close attention to their dividend return and that the riskiness of their investments may affect the valuation of the firm’s shares in the long run. this makes the volatility of stock prices as important to firms as it is to investors (hussainey, mgbame, & chijoke-mgbame, 2015). based on the previous research, dps influences the stock price (rusliati & prasetyo, 2011). studies on dps are usually centered on two related issues. the first issue deals with how stock prices are affected by dividend policy. the second is on whether or not dividend policy affects the shareholder’s wealth. a study shows that the dps has a significant relationship with the stock returns (garba, 2014). another variable that used in this research is earning per share (eps). eps is generally considered the most important factor in determining share price. literature shows that most of the individual investors take their individual investment decision based on the eps (khan et al., 2014). this research will reveal whether the investors should consider eps in order to invest in the security market. it will decide whether per share can influence the stock price or not. principally, all societies’ potential and active investors seek for accurate information of capital market. they are looking for the information form invested-upon references, and this information should be accurate, adequate, and on time. they expect the disclosure of published financial statement by the accounting firm and every time a public listed company announce its profit/loss that will react the stock market (garkaz, koohkan, & kiarazm, 2012). the stock price and return will be lifted up for profit companies and vice versa. research in 2011 has showed that there is a significant influence between eps and stock price during the year 2007-2011 data samples (marcellyna & hartini, 2011). it is a similar result with priatinah and kusuma (2012) research upon the influence of eps towards stock price for public listed mining companies in indonesia stock exchange during the year of 2008 until 2010. the investors who would invest by buying shares in the capital markets will analyze the condition of the investment company first so that it does provide the benefit (return). getting a return (profit) is the main purpose of the trading activity of investors in the capital market, this is why eps also has a significant influence towards stock returns (hermawan, 2012). beside the eps and dps, this research also uses price per book value (pbv) ratio as one of the independent variables. the pbv ratio is a helpful tool for the investors in valuing a company. it compares a stock’s per share-price to the book value. the pbv ratio is an indication of how much shareholders are paying for the “net assets” of a company. the low pbv ratio figure can determine the value of the company also has a negative correlation in regards to the stock return. international index influence analysis of dps …… (sebastianus laurens) 23 of pbv ratio analysis demonstrated the low pbv ratio figure would contribute to the high stock return. a study form the year of 1997 has shown that the firm size and price to book value ratio are prominent measures in explaining cross-sectional stock returns. the former literature states that pbv is positively correlated with subsequent stock returns (jensen, johnson, & mercer, 1997). another research from 1997 has found that the book value is more relevant than the earnings per share in relation to stock prices (ahmadi, 2017). in relation to this broad topic on how fundamental factors can influence the stock price and return, this research will limit its scope only on these premises, whether, is there a significant influence of dps towards stock price and return? is there a significant influence of eps towards stock price and return? and is there a significant influence of pbv towards stock price and return? through this research, the investors will have a quick and practical way to analyze the public listed company’s stock market price and return. methods the research objects are listed companies in indonesian stock exchange with criteria, at first, listed in bei and registered in the lq45 index during the consecutive year of 2002 until 2008. the second is those listed companies shared cash dividend during these periods of research. this is related to the one of the independent variable in order to get the best result in dividend per share ratio analysis. and the third is the listed company samples that do not conduct stock split during the year of research. the prices used in this research are annual opening and closing stock price, so in this case, if the company conduct stock split, the closing prices will not reflect the accurate closing stock price. this research uses the quantitative method to determine the influence of the independent variable towards the dependent variable. the quantitative analysis is conducted with statistic technic called multiple linear regression. multiple linear regression is the most common form of linear regression analysis. as a predictive analysis, the multiple linear regression is used to explain the relationship between one continuous dependent variable and two or more independent variables. the assumptions related to this method are the regression residuals must normally be distributed, a linear relationship is assumed between the dependent variable and the independent variables. the residuals are homoscedastic and approximately rectangular-shape, the absence of multicollinearity is assumed in the model, meaning that the independent variables are not too highly correlated. at the center of the multiple linear regression analysis is the task of fitting a single line through a scatter plot. r-squared is a statistical measure of how close the data are to the fitted regression line. it is also known as the coefficient of determination or the coefficient of multiple regression. the 100% r-squared result indicates that the model explains all the variability of the response data around its mean. the information of the listed companies derives from indonesian capital market directory year 2005 and 2008 that are published by institute for economic and finance research (ecfin). results and discussions based on the multicollinearity, autocorrelation, and heteroscedasticity tests, the independent variables are fit to be processed for this research. the first test is the multicollinearity test. multicollinearity is a state of very high inter-correlations or inter-associations among the independent variables. it is, therefore, a type of disturbance in the data, and if exist in the data, the statistical inferences that are made about the data may not be reliable. table 1 demonstrates the independent variables are free from the multicollinearity issue and do not correlate to each one another. 24 journal the winners, vol. 19 no. 1, march 2018: 21-29 0 1,693 1,774 2 2,226 2,307 4 positive autocorrelation table 1 vif table the second test is the autocorrelation test. the definition of autocorrelation is “a characteristic of data in which the correlation between the values of the same variables is based on related objects.” it can violate the assumption of instance independence, which underlies most of the conventional models. table 2 shows the autocorrelation test for this research that uses the durbin watson, while figure 1 shows the durbin-watson scale test. table 2 durbin-watson autocorrelation test figure 1 durbin-watson scale test based on the scale test in figure 1, the model 1 (inconclusive scale) and model 2 negative to the autocorrelation or the autocorrelation issue cannot be proven upon those models. the last test of the classic assumption test theory is the heteroscedasticity test. basically, the existence of heteroscedasticity is an absence of homoscedasticity as it can invalidate statistical tests of significance that assume the modeling errors are uncorrelated uniform-hence that their variances do not vary with the effects being modeled. in order to prove there is no heteroscedasticity issue in this research, the researcher uses a scatterplot of the model that can be seen in figure 2 and figure 3. as it can be seen from the multi-regression scatterplot in figure 2 and figure 3, both multiregression scatterplot show there is no specific pattern. so it can be determined that there is no heteroscedasticity issue throughout the models. independent variable vif dps 1,2735 eps 1,294 pbv 1,0195 model durbin-watson model 1 (stock price) 1,2735 model 2 (stock return) 1,294 negative autocorrelation negative autocorrelation model 1 model 2 inconclusive influence analysis of dps …… (sebastianus laurens) 25 figure 2 multi regression scatterplot y = stock price figure 3 multi regression scatterplot y = stock return the result from statistic data processing of dps, eps, and pbv toward stock price can be seen in table 3. this table is generated from spss15 version, the statistic software. table 3 the f table result toward stock price table 3 shows a broad description of the summary statistic that fhit > f table. this demonstrates that there are significant influences from the independent variables as one model simultaneously to the dependent variable so this model can be used for analysis. the regression linear model is as below: y = -0,0049x1 + 0,315x2 + 0,27x3 (1) regression standardized predicted value 86420-2 r e g re s s io n s ta n d a rd iz e d r e s id u a l 4 2 0 -2 scatterplot dependent variable: hrg regression standardized predicted value 86420-2 r e g re s s io n s ta n d a rd iz e d r e s id u a l 8 6 4 2 0 -2 scatterplot dependent variable: return independent variable beta t sig notes: dps -0,00485 -0,05702 0,954606 r2 0,19431 eps 0,315439 3,681308 0,000329 f 11,41548 pbv 0,272897 3,588041 0,000458 f table 2,66 dependent variable: t table 1,65508 price alfa 5% 26 journal the winners, vol. 19 no. 1, march 2018: 21-29 the output shows that there is an independent variable that does not have the influence on the dependent variable. the t-hit dps < t table, based on this result, dps does not have the influence on the stock price. the r2 figure on the table demonstrates 0,19431 means that only 19,43% of the overall stock price variations can be explained by the model. other variables like eps and pbv show a significant influence on the dependent variable that similar to the research of wicaksono (2015). it also shows from the t-hit result on those variables have the higher figure than the t-table. particularly for the eps, a study from hunjra et al. (2014) is using a multiple regression analysis to test whether eps has an influence towards stock price for the 80 listed companies in nse during the year 2012, and the result is the same as in this research. this result might opposite with the research of beliani and budiantara (2015) where it has found that the pbv does not have influence toward stock price for period 2009-2012 for samples only the listed insurance company. this will not effect on this research’s objective since not only the period of samples are different but also the target companies. the negative relationship between dps and the stock price result will confirm the research of hashemijoo, ardekani, and younesi (2012) which also has a similar result to this research. another statistic data processing result for the stock return that also has been processed with spss 15 statistic software can be seen in table 4. table 4 f table for stock return independen variable beta t sig notes: dps 0,153252 1,757381 0,081008 r2 0,152039 eps 0,292826 3,331139 0,001103 f 8,486858 pbv 0,015868 0,203364 0,839142 f table 2,66 dependent variable: t table 10% : 1,28722 t table 1,65508 return alfa 5% based on table 4, fhit > f table shows that there are significant influence from the independent variables as a one model simultaneously to the dependent variable so this model can be used for analysis. the regression linear model is as below: y = 0,153x1 + 0,292x2 + 0,015x3 (2) the output shows that there is an independent variable does not have the influence on the dependent variable. the t-hit pbv < t table, based on this result, pbv does not have the influence on the stock return. the r2 figure on table 4 demonstrates 0,152 this means that only 15,2% of the overall stock price variations can be explained by the model. other variables like eps and dps prove a significant influence on the dependent variable. it shows from the t-hit result on those variables have the higher figure than t-table. based on table 4, it demonstrates that eps has the highest coefficient toward the stock return. this means this variable is the dominant independent variable and also means a declaration of profit/loss from a public listed company will affect the market. it is similar to aisah and mandala’s research (2016). especially for pbv result, this research has expanded the data sample to all listed companies in the lq45 index during 2002 until 2007 (without consecutive listing) as long as the companies still on listed in bei as of the year 2009. the numbers of sampling companies are 269 entities. the result is t-hit < t table (1,565 < 1,64791) with significant level (0,119) higher than 5% alpha. this outcome supports the previous result that pbv cannot be able to influence the stock return. talking about the influence of dividend towards stock prices, in theory, dividend affects the stock price. this is the difference of opinion between practitioners and academics from the beginning influence analysis of dps …… (sebastianus laurens) 27 of cash discount distribution and still exist until today (the author is on the academic side). practitioners remain on the belief that the distribution of cash dividend will attract investor reactions and will affect the stock price. high earnings, high dividends, and rising stock prices are the common situation; there are also situations in low earnings, high dividends, and rising stock prices. in fact, there are some cases of stock prices move following the dividends and opposite direction with earnings. this is because investors (practitioners) await the announcement of dividends. if it meets their expectations, then there will be no movement on the stock price, but if higher than expectations, then there will be an upward movement and vice versa. this reaction is based on practitioners' thinking that dividend policy affects stock prices. that thought also leads to differences of opinion from scholars and practitioners. there is a gap of expectations between the academics and the practitioners. when the academics think the dividend policy has met the expectations of investors, the practitioners think the dividend policy does not. the way practitioners think that dividend policy does not meet expectations can be perplexing because something that unpredictable will become predictable in the market. the market will know how the management thinks and basically, management will distribute high dividends to generate a good impression for investors (the result above shows that eps has an effect on stock prices and returns, so this is what the market is expecting). if that happens, there will be a huge opportunity cost when canceling the funding for profitable investment. this is one of the reasons why a public listed company has to declare high dividends. management cannot decrease the dividend distribution because it will create “below investor expectations” perception and the company becomes unattractive and follows with declining stock prices. on the other hand, management will also lose the right to self-decision for its dividend policy and does not have other option besides following what market desires or the company will face stock price falling and fail the opportunity to invest in other profitable places. it is recommended that the public listed companies pay the dividend as it will cause an upward movement in the stock market prices. whereas profit retention by the public listed companies will result in a decrease in the value of the stock market prices (ali, jan, & syarif, 2015). the company's dividend policy seems very important to investors and should be careful not to surprise investors with the unexpected company's dividend policy. the investors use the dividend announcement in projecting the company’s profit or loss. they are all connected, so when the company announces their profit or loss, the investor will think about dividend distribution directly. this will give an opportunity to a new investor to invest in a company that declares significant growth in profit and cash dividend from the previous year. conclusions the multiple linear regression analysis shows that dps does not have the influence towards stock price. nevertheless, it does show a significant influence towards the stock return. another result comes from pbv analysis that those variables demonstrate a significant influence on stock prices, but it does not work for stock returns. and yet for eps variable, it shows a significant influence on both stock prices and returns. based on the r2 result shows 19,4%. it means that there are other independent variables that influence stock prices and returns, especially in related to pbv. the researcher can extent this variable into the relation to the subsequent stock return (modified-for finance leverage). this is an opportunity to the researcher for identifying and exploring the other independent variables that might influence the stock prices and returns. all the public owned companies expect to be able to publish an accountable financial statement since an eps figure could have a significant influence towards stock prices and returns. 28 journal the winners, vol. 19 no. 1, march 2018: 21-29 references ahmadi, a. (2017). the stock price valuation of earnings per share and book value: evidence from tunisian firms. journal of internet banking and commerce, 22(1), 1-11. aisah, a. n., & mandala, k. (2016). pengaruh return on equity per share, firm size, dan operating cash flow terhadap return saham. e-jurnal manajemen unud, 5(11), 6907–6936. ali, a., jan, f. a., & sharif, i. (2015). effect of dividend policy on stock prices. business & management studies: an international journal, 3(1), 56–87. beliani, m. m. i., & budiantara, m. (2015). pengaruh price earning ratio dan price to book value terhadap harga saham perusahaan asuransi yang terdaftar di bursa efek indonesia tahun 20092012. riset akuntansi mercu buana, 1(1), 76-86. garba, a. (2014). the impact of dividend per share on common stock returns : a re-examination. international journal of managerial studies and research, 2(8), 75–79. garkaz, m., koohkan, f., & kiarazm, a. (2012). an investigation of the effects of earnings per share, dividend per shares, and changes in operational cash flows on stock return. international journal of research in management issue 2(6), 93-105. hashemijoo, m., ardekani, a. m., & younesi, n. (2012). the impact of dividend policy on share price volatility in the malaysian stock market. journal of business studies quarterly, 4(10), 111–129. hermawan, d. a. (2012). pengaruh debt to equity ratio, earning per share, dan net profit margin terhadap return saham. management analysis journal, 1(5), 1–7. hunjra, a. i., ijaz, m. s., chani, m. i., hassan, s., & mustafa, u. (2014). impact of dividend policy, earning per share, return on equity, profit after tax on stock price. internation journal of economics and empirical research, 2(3), 109–115. hussainey, k., mgbame, c. o., & chijoke-mgbame, a. m. (2015). dividend policy and share price volatility. investment management and financial innovations, 12(1), 57–68. jensen, g. r., johnson, r. r., & mercer, j. m. (1997). new evidence on size and price-to-book effects in stock returns. financial analysts journal, 53(6), 34–42. khan, t. r., choudhury, t. t., adnan, a. m., & senior lecturer 1. (2014). how earning per share (eps) affects on share price and firm value. european journal of business and management, 6(17), 2222–2839. marcellyna, f., & hartini, t. (2011). pengaruh earning per share (eps) terhadap harga saham lq45 di bursa efek indonesia (bei). jurnal akuntansi stie mdp, 1–7. nezky, m. (2013). pengaruh krisis ekonomi amerika serikat terhadap bursa saham dan perdagangan indonesia. buletin ekonomi moneter dan perbankan, 15(3), 89–103. influence analysis of dps …… (sebastianus laurens) 29 priatinah, d., & kusuma, p. a. (2012). pengaruh return on investment (roi), earning per share (eps), dan dividen per share (dps) terhadap harga saham perusahaan pertambangan yang terdaftar di bursa efek indonesia (bei) periode 2008-2010. jurnal nominal, 1(1), 50-64. rusliati, e., & prasetyo, g. (2011). pengaruh financial leverage, earnings per share, dan dividend per share terhadap harga saham. trikonomika, 10(1), 31–39. wicaksono, r. b. (2015). pengaruh eps, per, der, roe dan mva terhadap harga saham. jurnal akuntansi, (5), 1–13. *corresponding author p-issn: 1412-1212 e-issn: 2541-2388 15 the winners, 21(1), march 2020, 15-20 doi: 10.21512/tw.v21i1.5878 cyberbullying phenomenon of high school students: an exploratory study in west kalimantan, indonesia william vincent setiawan1*; vernawati eva fitrisna2; fairuz michellianouva3; celly septine mayliza4 1,2,3,4 accounting department, binus graduate program master of accounting, bina nusantara university jl. kebon jeruk raya no. 27, kebon jeruk, jakarta 11530, indonesia 1william.setiawan@binus.edu; 2vernaismyname@gmail.com; 3fmichellianouva@gmail.com; 4csmcelly@gmail.com received: 13th august 2019/ revised: 21st august 2019/ accepted: 26th august 2019 how to cite: setiawan, w. v., fitrisna, v. e., michellianouva, f., & mayliza, c. s. (2020). cyberbullying phenomenon of high school students: an exploratory study in west kalimantan, indonesia. the winners, 21(1), 15-20. https://doi.org/10.21512/tw.v21i1.5878 abstract cyberbullying became a common occurrence among teenagers in the world today. the aim of research was to explore the cyberbullying experience of high school students in west kalimantan. the research was conducted to identify internet usage and online activities that led to cyberbullying victimization. the methods used a questionnaire collected during june 2019 from 50 students (25 males and 25 females) graded 10 to 12, and used a one-way anova analysis. significant gender differences were found which indicated that boys were more often involved in cyberbullying both as the perpetrator and the victim. students with lower academic achievement tend to be online perpetrators than students with better academic performance. the research investigated how cyber oppression impacts both as a perspective of victimization and persecution, discussing the practice of reporting students to parents, school officials and other adults. parental and teacher supervision as a strategy reduces student involvement in cyberbullying and generates awareness among students. the result implies that schools have an important role in teaching cybersecurity, adding cyberbullying subject in the curriculum, and sharing experiences with students. keywords: cyber bullying, high school students, online activity, cyber victimization i. introduction with the popularity of the internet and the development of communication and information technology, online communication has become one of the most widely used communications among the public. with this change, the social phenomena that have taken place offline have started to change to become online. the trend of cyberbullying has received increasing attention because it leads to serious consequences and increased prevalence. with the prevalence of smartphones and sophisticated internet connectivity, internet usage among middle students is increasing in west kalimantan. in 2017, 18% of the total population of west kalimantan internet access at home and in 2018 accounted for 2,1% dominating 80% for penetration (nabila, 2019). the level of internet use is relatively high among young people. however, relatively few high school students know about cyberbullying (o’keeffe, & clarke-pearson, 2011). when young people have expressed themselves more in social media than in the real world, their security using social media is a serious concern that needs attention now. examples of cases of extortion of a 14-year-old girl on social media by her uncle and because she was socially embarrassed when she refused an application for an illicit relationship (https://www.unicef.org). many high school students face harassment through the internet that is accessible to them. therefore, parents must pay special attention to their children towards cyberbullying when using the internet. the need to educate young people about the potential risks and threats related to cyberspace and how to keep themselves safe, along with the importance of educating teachers, parents and guardians in dealing with and helping to overcome this problem (kritzinger, 2014). the internet has become an integral part of the lives of young people of this millennium. the internet gives us a simpler and easier life. moreover, the internet can be used all over the world gradually and the number of users reaches 4 billion in january 2018 (simon, 2018). social media has also become an influential trend that can create large virtual spaces where people from anywhere are able to connect and 16 the winners, vol. 21 no. 1 march 2020, 15-20 interact with each other without being limited by space and time. the research found that although cybercrime has not received enough attention in the field of research in indonesia, many people have become victims through the internet. victims of cybercrime need to be aware and must be better educated on how to protect and prevent themselves from the evil acts of cyberbullying (kamal et al., 2017). young people must be given training or social study classes related to the mandated law, to understand the adverse effects of piracy and other internet crimes. learning institutions such as universities, schools must involve system administrators and it personnel in annual training in order to understand the technologies have been emerging in this millennial market. cyberbullying has become a common phenomenon that is often discussed about online violence on social media. a research conducted in 2012 has shown that at least 800,000 young people had become victims of online violence on facebook. the number of middle school children experiencing cyberbullying has almost doubled. 49,5% of students report being victims of online bullying. bullied young people can cause mental damage in adulthood and even the worst conditions can cause students to commit suicide because of this. the research focuses on west kalimantan because researchers see areas that are rarely reached or visited by the government because of cost factors. hence many students do not know the adverse effects of cyberbullying. the research can be useful for government and non-government organizations in helping schools and their parents develop a policy framework and find solutions to overcome cyberbullying as a social problem that is developing in indonesia, especially in the west kalimantan region. researchers see that many high school students in west kalimantan who are being bullied cannot do much and only receive inner pressure causing them to detach themselves from fellow friends, so they do not spend time with them. therefore, researchers are encouraged to discuss cyberbullying that occurs in the area of west kalimantan. in addition, li (2007) has found that students with lower academic status tend to become cyberbullies, while ma (2016) have pointed out an argument that these students tend to be victims. the importance of having a thorough understanding of risk factors in informing cyberbullying prevention and intervention strategies. global research gave rise to the paradigm that cyberbullying has been proven to be a universal invasion that harbored high school students and above. i-safe (http://isafe.org/) has reported a survey of 1400 students ranging in age from 10 to 18 years, 48% of whom have been intimidated online. more research works on cyberbullying of school children have also been conducted in the united states. the southeast and northwestern united states have been surveyed using questionnaires and some standard questions. previous research on cyberbullying found a relationship that influenced the likelihood of one being perceived social support. support from the surrounding environment is a personal need that is important and felt useful to describe one’s perception of social availability and provision. it is known that social support from families has a large impact in preventing involvement in cyberbullying (fanti, demetriou & hawa, 2012). quoted from leandha (2016), in april 2016 a number of high school students in medan with the initials sd claimed to be arman depari’s children dismissed on jalan sudirman by the police. the field crew media recorded elementary school actions during the incident. furthermore, the incident was widely discussed online and elementary on the bullied on his social media accounts. the case is rife in the middle of 2016 by indonesians. according to hinduja (2015) the term cyberbullying refers to several requirements. first, technology is the main environment in which actions occur, technology here refers to tools to help communicate with one another and share information such as computers, cellphones, tablets or other electronic devices. second, the frequency of high action or can be said to be repeated and finally is the involvement that can harm fellow human beings. cyberbullying involves two groups, the perpetrators and the victims. there are many ways to express these two groups, but researchers choose to use cyberbullies to represent perpetrators and cyber victims to represent victims. cyberbully is someone who intentionally and repeatedly harms others with technology such as negative comments on social media, spreading hoaxes through computers or mobile phones, while cyber victims are individuals who receive repeated dangerous behaviors while using social media technology. indonesian parents realize that cyberbullying is an ongoing phenomenon (91%), they feel that special attention is needed from each parent or guardian and school (89%), and they know children in their communities who have experienced cyberbullying (53%). however research does not connect much in indonesia (safaria, 2016). today many consumers are smart yet greedy with electronic media, it is not surprising that some people who want to tempt, harass or bully other people using electronic media they know. cyberbullying consideration as one of the main focus of this research is important as it affects the psychological well-being of secondary school students for the next level, namely at the university. in connection with the perpetrators of cyberbullying, safaria (2016)s found that the perpetrators of cyber bullying come from harmonious families. there is little research on cyberbullying in indonesia published in several journals, and to our knowledge no research has been conducted on online bullying of high school students in west kalimantan. this study explores the causes of cyberbullying and the psychological effects on students in west kalimantan. ii. methods data for the research are collected through a survey among high school students from the west 17cyberbullying phenomenon of high ..... (william vincent setiawan, et al.) kalimantan area. the structure of the questionnaire and questions have been adjusted for middle school students. participants are not identified to ensure that the response was anonymous. the structure of the questionnaire includes four domains: 1) participant demographic information, 2) witnesses to cyberbullying incidents, 3) cyberbullying experiences and cyber victims from perpetrators and victims, 4) opinions and suggestions regarding cyberbullying. data on cyberbullying had been being collected during june 2019 from 50 students (25 male and 25 female) in grade 10, 11 and 12. respondents’ age is between 15 years to 18 years. the relationship between differences in academic achievement and the experience of cyberbullying participants is examined using a one-way anova analysis. the instrument consists of cyberbully and cyber victim. respondents ought to choose never, once, twice, a lot, every day on each question. the summary scale is used to decide whether the respondent is cyberbully or cyber victim. iii. results and discussions the results of the questionnaire from secondary school students in west kalimantan are shown in table 1 which illustrates the age range and frequency of respondents of middle school students spending time using mobile phones and the internet. 44 out of 50 respondents (85%) indicates that students use the internet more at home, while 6 out of 50 respondents (14%) indicates that they do not use the internet. students in grade 11 and 12 tend to spend more time browsing the internet than grade 10 students. their most favorite activities when they have cellphones and internet are to communicate with friends, surf to find new things, play online games, and open social networks such as facebook, instagram, twitter and pinterest. table 1 age of respondent grades age frequency percentage 10 15-16 6 14,65% 11 16-17 15 27,87% 12 17-18 29 57,48% total 50 100% the most widely used electronic devices by high school students are cellphones with camera features (59%) and cellphones with internet capabilities (21%). only a few students use computers with email and browse related school lessons (10,54%), tablet devices with internet capabilities (7%), and digital cameras (3%). figure 1 illustrates the device mostly used by middle school students. cyberbullying is invoked by the perpetrators through social media such as news, instagram, facebook, twitter. there are photos, images, personal information, and victims’ videos that can be explored by cellphone, and then, posted on the internet. this trend has resulted in a growing number of children who have just turned 16 already owning digital devices. table 2 cyberbullying from three groups of academic achievement cyberbullying experience above average n = 20 average n = 20 below average n = 10 f mean sd mean sd mean sd cyberbullies 1,02 0,10 1,08 0,19 1,06 0,15 3,50* cyber victims 1,10 0,20 1,14 0,32 1,12 0,23 2,78 note: *p<0,05 figure 1 most used devices by high school students in west kalimantan 18 the winners, vol. 21 no. 1 march 2020, 15-20 the relationship between academic achievement and the experience of cyberbullying respondents is examined using a one-way anova analysis. to see the academic records of each respondent, researchers asked respondents to fill in academic achievement data only through the reports provided. students report their academic achievement on three points scale (1 = “above average”, 2 = “average”, 3 = “below average”). as seen in table 2, no significant difference is found between the three groups of academic achievement (f = 3,50; p <0,05). the results show that students with lower academic achievement tend to be online perpetrators. therefore, low academic performance allows potential risk factors to be involved in cyberbullying as a perpetrator. this research investigates the reaction of high school students in dealing with the phenomenon of cyberbullying and found half of school students (58%) feels disappointed and (32%) other respondents consider that either the government or the institution is unable to solve this cyberbullying problem. when asked about this, respondents report that cyberbullying is a serious problem in this millennium era and needs to be stopped. cyberbullying is considered terrible and ruthless as it makes young people intimidated and unable to do anything. figure 2 the phenomenon of cyberbullying victims inside and outside schools in west kalimantan figure 2 shows victims of cyberbullying in school and outside of school respondents grade 10 to 12,66% of respondents report that they have been cyberbullied outside or inside school, another 40% of victims report that they often got cyberbullied, 32% of victims reported that they had been cyberbullied twice outside or inside the school, 35% of respondents claim that they have never been cyberbullied or only once inside or outside school. respondents are asked about what they did when they got cyberbullied. most victims said that they tell their friends, their parents, and sign out from all social media to stay away from cyberbullying. only a small proportion of respondents will notify the teacher or guardian of the school. this proves that school students do not want to share incidents of this kind with any school member, they tend to share cyberbullying incidents with their family and close relatives. 24% of victims has a view that telling a friend of the cyberbully incident may improve the situation, 13% of the victims never tells anyone and there is 8% of victims who make things worse and regret it after telling a friend about the cyberbullying they experience. figure 3 the phenomenon of cyber perpetration inside and outside schools in west kalimantan figure 3 expresses cyberbullying perpetrators that occur inside and outside the school. 66% of respondents state that they have done cyberbullying, 36% of respondents report that they often do cyberbullying to peers in school. when they are asked about the frequency of doing cyberbully, 26% of respondents claim to have done it at least twice a day. the higher the level of cyberbullying can be analyzed that men often become perpetrators in terms of cyberbully with fellow friends at school than female students. school students do it as a pleasure or defense mechanism. some of them do it as a result of having such hard problems in the family. when doing cyberbullying, these students do not know the consequences. it is possible that their victims will be traumatized. most cyberbullying perpetrators are only for momentary pleasure. they have no idea that it causes a mental impact on a student, causing them to be apathetic going to school, as well as afraid to use the internet. the physical condition of students can also be disrupted, making them reluctant to make friends with others. school students in grade 10, 11 and 12 are not aware of the danger and the presence of cybersecurity. it is seen from a survey that most students are bullied by either classmates or negative comments on the internet. this raises enormous urgency so that every student is aware of cyber safety among online users. there are some students who learn about cybersecurity from their friends, siblings, teachers or guardians at school. surveys prove that the school curriculum allows students learn about cyberbullying. schools and parents have important roles in educating their children to cybersecurity by developing their own internal control technology policies. for instance, 19cyberbullying phenomenon of high ..... (william vincent setiawan, et al.) schools may add topics regarding cyberbullying to the curriculum, have regular discussions on certain days and share experiences with each student. posters, pamphlets can be distributed or posted around the school or home. these programs must all be assisted by parents to gain children’s awareness about responding to cyber harassment. national cybersecurity awareness initiatives can be taken to increase and monitor the awareness of every secondary school student. some other researchers point out that the difference in the definition of cyberbullying is used due to several instruments such as assessment, age range of participants and the response time of participants (kowalski, limber & agatston, 2012). von marees and petermann (2012) argues that involvement in cyberbullying itself are the perpetrators or victims with the age range from 10 to 16 years. more than half (54%) of students report that the perpetrators of cyberbullying are their classmates. these findings provide support for existing studies related to cyberbullying in the current millennium era. the proportion of classmates who act as actors becomes interesting and gets special attention from each institution and parents in the prevention and intervention of their children. the frequency of students accessing the internet can be considered the main factor in cyberbullying. students who access the internet more often will see positive and negative comments generated. the perpetrators of cyberbullying are those who give quite a lot of negative comments in their friends’ posts causing the victims intimidated and stressed. middle school students may be adults, but their nature is not necessarily mature and wise in making decisions. hence they still requires supervision from parents in using the internet. results from previous studies say that teenagers who spend more time in a day with cellphones and access the internet may be involved in cyberbullying as perpetrators or victims (mishna et al., 2012; navarro et al., 2013; wolak, mitchell & finkelhor, 2007). researcher analyze that internet access via cellphone or a computer is considered to increase the risk of middle school students being involved in cyberbullying. young people are more likely to be involved in cyberbullying in a space that is not supervised by teachers and parents. in addition, when students often involve themselves in messaging such as whatsapp, line, instagram, it is more likely that they are involved in cyberbullying. in the united states, social networking sites and chat rooms have functioned as fertile ground for cyber oppression (mesch, 2009). this number will continue to increase since new technologies keep emerging every year. iv. conclusions teenagers are participants who are directly involved in cyberbullying. for instance, a 15-yearold student can be bullied by his friend. prevention and intervention efforts must be in place to help them understand cyberbullying. the main motive of cyberbullying is to have fun as perpetrators may get bored with the current situation. researchers view that high school students have little awareness about the prevalence of their crime. otherwise they will surely know the negative effect of their behavior. some of middle school students in west kalimantan are unaware of cyberbullying, due to lack of resources, publications or the government’s influence about overcoming cyberbullying in the perspective of west kalimantan. parents ought to start figuring out the way to educate their children about the negative consequences of their online activities. parental support is essential in terms of cyber victimization. they must be able to recognize the signs of cyberbullying and what must be done, suspected and monitored when they start to indicate the signs of cyberbullying. the research has several limitations as well. first, sample selection may be too narrow for only 12th grade students, and data collection areas are also limited. second, the research only focuses on the perpetrators and victims of cyberbullying. in the future, the findings of this study can hopefully help the west kalimantan government or organization be able to construct policies in overcoming cyberbullying. the research investigates the relationship between the behavior of perpetrators and victims of cyberbullying that occurs in middle high school students in west kalimantan. the results show that cyberbullying behavior has a psychologically significant effects to the victims’ behavior. social support from family friends and the use of the internet are decisive in cyberbullying behavior. the influence of school friends is the strongest determinant associated with cyberbullying. teenagers having such minimum social support from school friends are more vulnerable to be easily affected by cyberbullying than those who have abundant social support. in terms of culture, there are no significant differences discussed in this research. most of the cyberbullying occurs among classmates, where the victims explain how to find out the perpetrators who tortured them. bullying is closely related to school students, so prevention programs must cover both offline and online dimensions. parents, teachers and community protection agencies should be encouraged to discuss both advantage and disadvantage of the internet in order to build trust in risky online behavior and the consequences of cyberbullying. acknowledgements the researcher would like to thank 50 high school students in santu petrus pontianak and the west kalimantan education center for providing a good opportunity to be surveyed, as well as the time provided to researchers. 20 the winners, vol. 21 no. 1 march 2020, 15-20 references fanti, k. a., demetriou, a. g. and hawa, v. v (2012) a longitudinal study of cyberbullying: examining riskand protective factors. european journal of developmental psychology, 9(2), 168-181. https:// doi.org/10.1080/17405629.2011.643169. hinduja, s. & patchin, j. w. (2015). bullying beyond the schoolyard: preventing and responding to cyberbullying (2nd ed.). thousand oaks, ca: sage publications. kamal, m. m., chowdhury, i. a., haque, n., chowdhury, m. i. and islam, m. n. (2017). nature of cyber crime and its impacts on young people: a case from bangladesh. asian social science, 8(5), 171-183. http://dx.doi.org/10.5539/ass.v8n15p171. kowalski, r. m., limber, s. p. and agatston, p. w. (2012). cyberbullying: bullying in the digital age (2nd ed.). wiley blackwell, pp. 2003-2004. kritzinger, e. (2014). online safety in south africa a cause for growing concern. information security for south africa (issa). https://doi.org/10.1109/ issa.2014.6950502. leandha, m. (2016). distop saat konvoi usai un, siswi sma marahi polisi dan mengaku anak jenderal, kompas. retrieved from https://regional.kompas.com/ read/2016/04/07/09141091/distop.saat.konvoi. usai.un.siswi.smamarahi.polisi.dan.mengaku. anak.jenderal. li, q. (2007). new bottle but old wine: a research of cyberbullying in schools. computers in human behaviour, 23, 1777-1791. https://doi.org/10.1016/j. chb.2005.10.005. ma, x. (2016). bullying and being bullied: to what extent are bullies also victims ?. american educational research journal, 38(2), 351-370. https://doi. org/10.3102/00028312038002351 mesch, g. s. (2009). parental mediation, online activities, and cyberbullying. cyber psychology and behaviour, 12(4), 387-393. https://doi.org/10.1089/ cpb.2009.0068. mishna, f., khoury-kassabri, m., gadalla, t. and daciuk, j. (2012). risk factors for involvement in cyber bullying: victims, bullies and bully–victims. children and youth services review, 34(1), 63-70. https://doi.org/10.1016/j.childyouth.2011.08.032. nabila, m. (2019). survei apjii: pengguna internet di indonesia capai 171,17 juta sepanjang 2018. daily social. available at https://dailysocial.id/post/ pengguna-internet-indonesia-2018/. navarro, r., serna, c., martinez, v., and ruiz, r.. (2013). the role of internet use and parental mediation on cyberbullying victimization among spanish children from rural public schools. european journal of psychology of education, 28(3), 725-745. https:// doi.org/10.1007/s10212-012-0137-2. o’keeffe, g. s., & clarke-pearson, k. (2011). clinical report — the impact of social media on children, adolescents, and families. pediatrics, 127(4), 800805. https://doi.org/10.1542/peds.2011-0054. safaria, t. (2016). prevalence and impact of cyberbullying in a sample of indonesian junior high school. the turkish online journal of educational technology, 15(1), 82-91. von marees, n. & petermann, f. (2012). cyberbullying: an increasing challenge for schools. school psychology international, 33(5), 467-476. https:// doi.org/10.1177/0143034312445241. wolak, j., mitchell, k. j. and finkelhor, d. (2007). does online harassment constitute bullying? an exploration of online harassment by known peers and online-only contacts. journal of adolescent health, 41(6), s51-s58. https://doi.org/10.1016/j. jadohealth.2007.08.019. microsoft word 06_th. widia s._teaching leadership using concept map 1.doc teaching leadership using… (th. widia soerjaningsih) 143 teaching leadership using concept map: a case study for the relationship between manager and leader th. widia soerjaningsih1 abstract usually teaching using concept map, is able to make everything clearer than if we use descriptive approach. but we cannot use concept map in all subjects. teaching in science and mathematics subject can easily use concept map but not in teaching art. leadership subject is an art, but in some cases we can use concept map too. in this case, we are focusing at the topic: “relationship between manager and leader”. keywords: teaching leadership, concept map, manager, leader asbtrak biasanya, mengajar menggunakan concept map dapat membuat sesuatu lebih jelas daripada menggunakan pendekatan deskriptif. akan tetapi, concept map tidak dapat digunakan untuk semua mata kuliah. concept map dapat digunakan untuk mengajar mata kuliah ilmu pengetahuan dan matematika tetapi tidak dapat dapat digunakan untuk mengajar seni. mata kuliah kepemimpinan merupakan mata kuliah seni tetapi dalam beberapa kasus, concept map dapat digunakan untuk mengajar mata kuliah tersebut. dalam artikel ini difokuskan pada topik: “kaitan antara manajajer dan pemimpin”. kata kunci: pengajaran kepemimpinan, peta konsep, manajer, pimpinan. 1 staf pengajar fakultas ekonomi, ubinus, jakarta journal the winners, vol. 5 no. 2, september 2004: 143-148 144 introduction this case study would like to tell about hartono’s experience in teaching leadership subject to his students in the fifth semester this year. he is my colleague. he usually teaches algorithm, computer programming, or mathematics (all science and mathematics) subjects. he has never taught an art subject, because engineering is his education background. after many years hartono teaching in science and mathematics, he feels that science and mathematics are very logical and exact, then made him boring because his teaching experiences and his working experiences cannot synergize to make him grow in his knowledge. with his working experience in management, hartono tries to teach leadership this semester. he thinks if he teaches leadership, he can tell his students about his working experience and also he can grow his knowledge. he feels that teaching, working experiencing and knowledge can grow easily, if he does it in line. he knows that experience is understanding something by doing and teaching is knowing something by reading, learning, and sharing. all of this will enrich his knowledge. because he has experiences in teaching mathematics, he teaches leadership also uses a mathematic logical. he teaches use a concept map. relationship between manager and leader in the first session of the module he must explain to the students about the relationship between manager and leader. using a constructivist method, he starts to ask the students about what had they known about the relationship between manager and leader. and he got many ideas from the students as follows. a. andi said that manager is a leader and leader is a manager. he read it in the newspaper that “the leaders of the abc company successfully did all the spectacular plan”. from this statement he thinks that the leader is meant manager. b. budi said that a leader is more than a manager. all the managers are leaders but not all the leaders are managers. he said that because there are formal leaders, who is the same with managers and also there are non-formal leaders; who are not the same with managers. c. tuti told what she had read from the reference “people in organizations, an introduction to organizational behavior”, by terence and mitchell that “leadership as a managerial role”, “…. being a leader, in other words, is an important managerial role. but it is not the only role that a manager plays. there are others. mintzberg (1973), for example, has identified ten distinct roles that are played by almost every managers. these ten roles fall into three categories: informational roles (monitor role, teaching leadership using… (th. widia soerjaningsih) 145 disseminator role and spokesperson roles), decisional roles (entrepreneurial role, disturbance handler, resource a locator, negotiator) and interpersonal roles (figurehead role, liaison and leadership role)”. she told that its means manager is more than leader, all the leaders are managers but not all the managers are leaders. from all those statement, he asked the students whose statement are right, andi’s, budi’s or tuti’s statement? they are very confusing because tuti’s and budi’s statement are very different. then he simplify those three relations, using relational diagram as follow. if m = manager and l = leader, then we could draw those three conditions as: a. b. c. all m = l all m = l all l = m all l = m not all l = m not all m = l and amir said that he also could draw another condition as follow. from this picture we can see that there are three area, those are: 1. area i, will represent area for manager, who are not a leader; 2. area ii, will represent area for manager, who are also a leader, 3. area iii will represent area for leader, who is not a manager. at the end of the discussion he closed his lesson and said to them that all of the statements are right and they had to take attention if they want to choose one of those statements, they must mention who is the author or what is the argument. if the argument was rational and logical every body will declare that statement is right. then he asks to every ones, must be wise to hear and take attention to the other opinions. m = l l m m l i m iii l ii m=l journal the winners, vol. 5 no. 2, september 2004: 143-148 146 case commentaries a. central character that story told about my experience as a lecturer who explain the students to understand the difference between leader and manager used a mathematical diagrams. the lecturer used all the background of his knowledge to explain what he wants to teach. he used also the constructivist method, tried to build the understanding of his students up to their knowledge. his engineering background and his experiences teaching sciences and mathematics helped him to teach an art easily. his habits to think logical and mathematical very helpful to teach other subjects. after he taught this unit, he likes to teach leadership because he could use his background also his work experience to make his students understand better, for example: he could use relational diagram (a concept map) to tell his students about the difference between manager and leader. the students also very happy with this style, and then they can develop their knowledge better and better. b. trainee teacher this was a wonderful story. reading that case, it would inspire me to teach an art subject using a mathematical diagram which many people did not realize before. my background is management studies, and this semester got a duty to teach leadership. in my class i told the students the same topic but i don’t use a diagram. i only use an example in daily activity. my students get confuse about this topic, and i try to explain more and more. i need much time to make them understand. also i read from that case that the students very enthusiastic to follow the lesson, they participate very well and also they can explore their knowledge better and better. after i read this case, i think i will use this method another time. it was much clearer than i did. c. senior lecturer in leadership this story was interesting. partly, he succeeds in encouraging the students to express their perceptions about the relationship between the concept of manager and leader, in relational diagram. and the message is clear. based on this diagram, the students realized that, there is no one universal answer to the problem put by this question (relation between manager and leader) and by the leadership in general. on the other side, the students learn to appreciate the others opinion, their peers. however, the very point is how to pattern their map, where all possible relations are included. in this regard, perhaps venn diagram (or elle’s diagram) is helpful. so, beside those three diagrams, we have another one, that there is a different between manager and leader. and this idea increasingly supports by many writers, since the publication of abraham zaleznik’s article twenty years ago in harvard business review teaching leadership using… (th. widia soerjaningsih) 147 (1976). in short, by mapping all the possible relationship, the students come to understand, not only the relationship between the manager and the leader, but also, the necessity to borrow the tools (concept) from another field. so, they also gradually aware the multidisciplinary nature of the field. discussion i don’t write the story about teaching science or mathematics, because from this semester i don’t teach science and mathematics any more. this semester i start teaching leadership. i interest with hartono’s experience because i have the same background with him. at the first time i decided to teach leadership, i never imagine that i can use mathematical diagram to teach an art subject. after hartono told me about his experience, i think that is a good case for me. from this lesson i can learn if we looking for the relation between two things, always we can use relational diagram to draw it. and then it made clear all we have discussed. and i can use my multidisciplinary background to support what i want to teach. i may not to divide field by field, but i must combine as necessary. finally, i aware that in teaching i can use my multidisciplinary background to make my students understand better also from the students side, they can use all their multidisciplinary experience to construct their knowledge. conclusion from this case study, i feel that collaboration and sharing experiences among peers will grow our understanding and also our knowledge. constructivist approach is the best method to build our knowledge and also students knowledge. finally, case study helped somebody understand better about the topic because it was a real story around us. journal the winners, vol. 5 no. 2, september 2004: 143-148 148 references gallagher, j.j. 1996. “implementing teacher change at the school level.” in david f. treagust, reinders duit, and barry j. fraser. improving teaching and learning in science and mathematics (pp.222-231). new york: teachers college press. hand, brian. 1996. “diagnosis of teachers’ knowledge bases and teaching roles when implementing constructivist teaching/learning approaches.” in david f. treagust, reinders duit, and barry j. fraser. “improving teaching and learning in science and mathematics” (pp.212-221). new york: teachers college press. kilbourn, b. 1991. learning the art of constructive feedback in teaching. toronto: oise press. novak, joseph d. 1996. “concept mapping: a tool for improving science teaching and learning.” in david f. treagust, reinders duit, and barry j. fraser. improving teaching and learning in science and mathematics (pp.32-43).new york: teachers college press. northfield, j., r. gunstone, and g. erickson. 1996. “a constructivist perspective on science teacher education.” in david f. treagust, reinders duit, and barry j. fraser. improving teaching and learning in science and mathematics (pp.201-211). new york: teachers college press. wallace, j. and w. louden. 1991. “collaboration and the growth of teachers' knowledge.” article presented at the annual meeting of the american educational research association, chicago, april 1991. in pr es s *corresponding author p-issn: 1412-1212 e-issn: 2541-2388 113 the winners, 23(2), september 2022, 113-119 doi: 10.21512/tw.v23i2.7083 abnormal return analysis before and after general election in asia steven lesmana1; sumani2* 1,2management department, faculty of economics and business, atma jaya catholic university of indonesia jl. jend. sudirman no. 51, karet semanggi, setiabudi, dki jakarta 12930, indonesia 1maximillianeve@yahoo.com; 2sumani@atmajaya.ac.id; received: 22nd february 2021/ revised: 08th march 2022/ accepted: 09th march 2022 how to cite: lesmana, s. & sumani. (2022). abnormal return analysis before and after general election in asia. the winners, 23(2), 113-119. https://doi.org/10.21512/tw.v23i2.7083 abstract the research aimed to examine the capital market's reaction to political events as seen from the abnormal return using the event study concept. since there are conflicting results of similar previous studies, further research is needed. the research used event study methods, cumulative average abnormal return (caar) to compare abnormal returns during the general election. the research intended to compare stock market activities where there are general elections in four countries in asia which conduct general elections every five years, and with the condition that the general elections in those countries must be completed within one day. the calculation was carried out on the stock index's daily data representing the country in the last five events general elections in each country. the research used an estimated period of 120 days and a time of observation of 33 days. research shows no significant difference between the average abnormal returns before and after the general election event in the last five events for all the countries tested. it can occur due to various factors, such as the anticipation made by investors, investors' behavior, and the amount and speed of information circulating. further research is required to find out the form of the country's efficient market. keywords: abnormal return, general election, efficient market hypothesis (emh), event study i. introduction one theory in traditional finance is the efficient market hypothesis (emh). an efficient market is a concept stating that all company information is reflected in market prices. delcey (2017) divides capital market efficiency into three forms, namely strong form efficiency, semi-strong form efficiency, and weak-form market efficiency. even so, the main challenge of the emh is anomalies or irregularities. in practice, however much information is reflected in a price so that a market can be said to be efficient, there are often unpredictable price fluctuations. price changes are caused by various factors, classified into internal and external factors. external factors include projections of the company's future performance, corporate actions, exchange rate fluctuations, natural disasters, government policies, macroeconomic fundamentals, rumors and market sentiment, market manipulation, and panic. cases of terrorism, natural disasters, political systems, and other phenomena often trigger stories and fear. external factors tend to be challenging to overcome and are considered more dominant in influencing stock prices. one of the political issues in many countries is general elections. the election itself is a free event in which all people directly or indirectly elect a legislative representative body in the country within a specific period. these elections are usually held on average every 4-6 years. the elected legislative also varies for each country, and it depends on the form and system of the country. this event is a unique phenomenon, prompting many researchers to conduct research. nazir et al. (2018) state that terrorism and political events have a significant effect on stock returns. besides, the general election has a positive effect on stock returns (rehman & khan, 2015; wong & hooy, 2016). another research also indicates that there are differences in the average abnormal return before and after the general election. still, there is no difference in trading volume activity (arif & sudjono, 2021; huang & kuo, 2015; imelda, siregar, & anggraeni, 2014; khantavit, 2020); there are also studies pointing out that votes hurt stock market returns (liew & rowland, 2016). since there are differences from the previous research results, the research is conducted to further investigate the relationship of the general election that occurred in several asian countries to the abnormal in pr es s 114 the winners, vol. 23 no. 2 september 2022, 113-119 return before and after the general election. according to jogiyanto (2016), information published as an announcement will signal investors to make investment decisions. if the announcement contains a positive value, it is expected that the market will react when the market receives the announcement. in the context of an event study, which is an observation of stock prices in the capital market to determine whether there is an abnormal return obtained by shareholders due to a particular event, this signaling theory explains that each event will contain information about the market. the general election as a political event is thought to contain information that can influence market reactions. the market reaction is indicated by the change in the company's share price, measured by the abnormal return. the concept of an efficient market was first put forward by fama in 1970, which defines an efficient market if the price of a security fully reflects the available information. the forms of efficient markets can be grouped into three, namely the weak form of the efficient market hypothesis, the semi-strong form of the efficient market hypothesis, and the strong form efficient market hypothesis form of the efficient market hypothesis. the theory states that the price formed in the market is a reflection of all available information, so the price created is a fair value. as a result, market participants may not find any abnormal returns, so the way to obtain a higher rate of return is through the purchase of more risky investment assets. however, the theory has not been able to explain several anomalies or inconsistencies in the capital market, such as the january effect phenomenon, day of the week effects, returns over trading, and non-trading periods. responding to the inability of financial standards to explain anomalies that occur in the capital market, financial researchers began to unite phenomena that arise with behavioral aspects. budhiraja, raman, and bhardwaj (2018) state that behavioral finance is a science that studies how humans respond and react to information to make decisions that can optimize returns by taking into account the inherent risks in them. the statement is reinforced by kresnawati, wahib, and pertiwi (2019) pointing out that the behavior is not only related to the foundations of financial theory and existing economic law but tends to be influenced and based on psychological factors. behavioral finance combines both economics and psychology. there are several theories in behavioral finance, namely prospect theory (hameleers, 2021), investor sentiment (khan & ahmad, 2019), and ambiguity aversion (jia et al., 2020). imelda et al. (2014) examine differences in average abnormal returns and trading volume activity on sectoral stock indices before and after the presidential elections of 2004, 2009, and 2014 in indonesia. the closing price of the daily sectoral stock index used in the research consisted of 120 days before and 30 days after the presidential election. there is evidence of substantial differences in the average abnormal return of sectoral stock indexes before and after the presidential election, especially in the mining sector. however, for trading volume activity, the sectoral stock indexes before and after the presidential election are statistically the same. liew and rowland (2016) also conduct a similar research in malaysia. they use daily fbmklci index data from 1995 to 2013, including the five most recent election events, namely april 25, 1995, november 29, 1999, march 21, 2004, may 8, 2008, and may 5, 2013. the results show that the election negatively affects stock market returns. rehman and khan (2015) conduct a similar research entitled “impact of general elections on stock returns: evidence from the karachi stock exchange 100 index”. the data used is sourced from the kse 100 stock index return, with a sample of the last five general elections that occurred in 1993, 1997, 2002, 2008, and 2013. the results indicate that the general election has a positive effect on stock returns. the general election is a phenomenon contained in external factors that affect stock returns since the event is carried out by various countries, with diverse periods. several countries in asia hold elections in the same period, which is every five years. the research intends to see whether there is a significant difference in abnormal returns in each country before and after the general election. the research novelty lies on the comparison of the abnormal returns between the five general election events in each country. the research contributes to providing a basis for further research for comparative study of events between countries. the problem in the research is to examine significant differences in abnormal returns between before and after the general election events in several countries in asia. the research hypothesis is formulated: h1: there is a significant difference in abnormal returns before and after the general election in indonesia h2: there is a significant difference in abnormal returns before and after the general election in malaysia h3: there is a significant difference in abnormal returns before and after the general election in singapore h4: there is a significant difference in abnormal returns before and after the general election in pakistan ii. methods the population in the research are all countries in the asian continent, which holds general elections with a total of 41 countries. from the population, several countries are selected to be used as research samples. the research uses a sample determination method based on specific criteria, which includes: in pr es s 115abnormal return analysis before.... (steven lesmana; sumani) 1) geographical domicile in the asian continent, 2) holding general elections, which are completed in one day, and organized every five years, 3) trusted stock index that represents the company's shares in the country, 4) stock index data related to daily prices are available in full, 5) data on the number of companies incorporated in the index is available in total. based on these criteria, the research takes four countries from the entire population as research samples, namely indonesia measured by the jakarta composite index (jkse), malaysia measured by the kuala lumpur stock exchange (klse), singapore measured by the straits times index (sti), and pakistan measured by the karachi stock exchange (kse100). the first step is implementation the normality test, in which if the data is not normally distributed, it is tested by the non-parametric method (wilcoxon sign test) and if the normal distribution is tested by the parametric method (paired sample t-test). hypothesis testing uses spss 25, where the indicator is the average abnormal return (aar) in 16 days before and 16 days after the election event, with an estimated 120 days before calculating expected return (rehman & khan, 2015), and the research includes five event of election period in each country (table 1). calculation of average abnormal return is the average of the difference between the actual return, which is the market return with the expected return calculated using the mean adjusted model. the first step is to determine the date of the general election event in each country where the research takes place, then look for dates according to working days referring to the predetermined event timeline (figure 1), which is 120 days before to calculate the expected return and 16 days before, and 16 days after events for abnormal returns. the next step is determining the stock index used as a reference to represent the country, then searching and collecting data on the daily closing price of the stock index in each country that has been determined, according to the date set in the previous step. the process continues to calculating the expected return and actual return of all data using the formula that has been described previously. the aar is averaged overall from the data in 16 days pre and post the last five events of general election periods in each country studied. ihsgt : t-day combined stock price index ihsgt-1 : day-t-1 composite stock price index t : estimated period (120 days) n : number of companies in the index armt : market abnormal return rmt : market actual return e(rmt) : market expected return table 1 details of research object no country stock index period (year) general election 1 2 3 4 5 1 indonesia ihsg 5 07-jul-99 05-jul-04 08-jul-09 10-sep-14 17-apr-19 20-sep-04 2 malaysia klse 5 29-nov-99 21-mar-04 08-mar-08 05-may-13 09-may-19 3 singapura sti 5 02-jan-97 03-nov-01 06-may-06 07-may-11 11-sep-15 4 pakistan kse100 5 03-feb-97 10-oct-02 18-feb-08 11-may-13 25-jul-18 figure 1 event timeline in pr es s 116 the winners, vol. 23 no. 2 september 2022, 113-119 iii. results and discussions the results of the descriptive statistical analysis is presented in table 2. it shows that the mean of the average abnormal return is only negative in malaysia, meaning that the range of data shows a negative aar tendency, due to the expected return value that is far greater than the abnormal return on most days of observation. the highest mean aar is in singapore with 0,0042081. the research focuses on 16 days before and after the last five events in each country, so that the sample of each country below 50, then normality can be seen from the significance of shapiro-wilk. as seen in table 3, the significance value of shapiro-wilk in indonesia is 0,004, and malaysia is 0,002, which is below 0,05 (α), so the data is not normally distributed and tested by non-parametric methods (wilcoxon signed rank test). as for singapore and pakistan, the shapiro-wilk significance value of 0,246 and 0,057 which is above 0,05 (α), it can be said that the data is normally distributed and tested using the parametric method (paired sample t-test). based on statistical tests using the wilcoxon signed rank test on the aar value to prove the hypothesis shown in table 4, the mean difference between the aar before and aar after is -0,362 for indonesia and -0,724 for malaysia. these calculations also obtained a two-way test p-value of 0,717 for indonesia and 0,469 for malaysia at a significance level (α) of 5%. based on the results of these calculations, the significance value is greater than α, so h0 is accepted and rejects h1. there was no significant difference in abnormal returns before and after the general election events in indonesia and malaysia in the last five general elections. based on statistical tests using the paired sample t-test on the aar value to prove the hypothesis in table 2 aar descriptive statistics analysis in indonesia, malaysia, singapore, pakistan n minimum maximum mean std. deviation aar1_before 16 -0,00245 0,00444 0,0002588 0,00193887 aar1_after 16 -0,00299 0,00735 0,0002500 0,00248906 aar2_before 16 -0,02690 0,01094 -0,0048825 0,01103042 aar2_after 16 -0,06417 0,01870 -0,0028275 0,02059573 aar3_before 16 -0,02630 0,02037 0,0006094 0,01348274 aar3_after 16 -0,01996 0,02521 0,0042081 0,01469162 aar4_before 16 -0,00137 0,01202 0,0036331 0,00430659 aar4_after 16 -0,00670 0,01031 0,0029869 0,00520808 valid n (listwise) 16 table 3 normality analysis no country name kolmogorov-smirnov shapiro-wilk conclusion 1 indonesia 0,019 0,004 not normally distributed 2 malaysia 0,200 0,002 not normally distributed 3 singapura 0,200 0,246 normal distributed 4 pakistan 0,138 0,057 normal distributed table 4 wilcoxon signed rank test results no country name z sig. (2-tailed) conclusion 1 indonesia -0,362 0,717 not significant 2 malaysia -0,724 0,469 not significant table 5 paired sample t-test results no country name z sig. (2-tailed) conclusion 1 singapura -0,00359875 0,400 not significant 2 pakistan 0,00064625 0,712 not significant in pr es s 117abnormal return analysis before.... (steven lesmana; sumani) the research (table 5), the mean difference between the mean paired differences is 0,00359875 for singapore and 0,00064625 for pakistan which showed a difference in the average. average aar before and aar after. these calculations also obtain a two-way test p-value of 0,400 for singapore and 0,712 for pakistan at the significance level (α) of 5%. based on the calculations, the significance value is greater than α, so h0 is accepted, and h1 is rejected. there is no significant difference in abnormal returns before and after the general election events in singapore and pakistan in the last five general elections. the research results show that for the countries studied, namely indonesia, malaysia, singapore, and pakistan, all of them did not indicate significant differences in average abnormal returns at the time of observation before and after the election event. insignificant results can be caused by investors who tend to wait in advance around the time of the election event. following prospect theory, profit and loss are two asymmetrical things where this will create a conservative and cautious investor in an uncertain or risky situation. during an election event, investors will tend to wait and place their funds on short-term instruments. various factors influence stock price movements, namely, internal and external factors. external factors that need to be considered in the research are government policies and panic factors. the general election event will directly or indirectly determine the country's economic conditions for the next five years, which will undoubtedly be a consideration and cause anxiety for investors. an uncertain situation regarding whether there will be positive or negative changes will generate sentiment. every investor faces this situation differently, related to investors' behaviour or characteristics that may differ in each country. one example, in indonesia. according to fransiska et al. (2018), indonesian investors tend to be irrational, where buying and selling decisions are more focused on the psychological side. investors in indonesia are thought to panic easily over rumors. the circulating rumors will encourage the panic selling phenomenon, in which investors will sell their shares regardless of the price for fear of the price dropping. these actions are triggered by emotion and fear, not based on rational analysis. as for the countries of singapore and malaysia, it is suspected that investors are calmer and more cautious. the situation in singapore can be said to be stable, so rumors may not really influence investors' decisions. in pakistan, the political situation is often related to the influence of terrorism and military force, so it is possible that investors in pakistan are accustomed to reading the situation, or tend to wait for the conflict to subside. however, for a more in-depth discussion of investor behaviour, further research is needed. it is in line with sentiment theory, where investors have confidence in their behaviour based on rules of thumb based on the situation that occurs, not on rationality. therefore, there are fluctuations in stock prices that cause abnormal returns. the research results are consistent with several previous similar studies, hutami and ardiyanto (2015), and nugraha and suroto (2019) who state that there is no significant difference in abnormal returns between before and after the general election. however, the research results contradict the research of imelda et al. (2014), and rehman and khan (2015) which state that there are significant differences in abnormal returns between before and after the general election. according to balladares et al. (2021), in the semi-strong efficient market concept, investors will not be able to obtain abnormal returns with a strategy based on information available in public. it means that this information does not provide more profit for investors. the information spread in the market will move all investors to make decisions and react quickly to either pushing or pulling the price. therefore, no investor can take advantage of information that other investors do not know to get an abnormal return. based on table 4 and table 5, the z value shows the mean differences between the average abnormal returns before and after the general election event for the non-parametric test and the mean differences in the parametric test. the difference in the average abnormal return is negative for indonesia, malaysia, and singapore from the results obtained. a negative result indicates that the average abnormal return after the value is greater than the average abnormal return before the general election. due to investors' prudent actions in the pre-event and post-event events and election results have been announced, which creates positive sentiment. investors' actions encourage upward price movements and generate positive abnormal returns. however, in pakistan, the results are contradictory. the difference in average abnormal return after and before is positive, meaning that the average abnormal return after general election is smaller than before. negative sentiment may occur due to the general election results that did not match expectations or the aftermath of an unstable event that made investors anxious and cautious. they tend to sell their stocks, which attracts lower price movements. the research is considered different from the previous research since it compares stock index data in five general election periods between four countries. meanwhile, the previous research only compares stock for specific industries or data for one general election period. iv. conclusions it is concluded that there is no significant difference in abnormal returns before and after the general election events in indonesia, malaysia, singapore, and pakistan in the last five events of general elections. for investors and potential investors, the research results are expected to provide an overview and information that can be used in making decisions on shares owned around the time of the general election, in pr es s 118 the winners, vol. 23 no. 2 september 2022, 113-119 especially in the countries studied, namely indonesia, malaysia, singapore, and pakistan. hopefully, by presenting the results of the research, investors can get the expected return. the research has some weaknesses such as the expected return calculation by not using the market model method, which is considered more accurate as the sample used is the overall index and cannot calculate the amount of β (beta). besides, testing the form of an efficient market is not perfect, because the research only focuses on historical data (stock prices in the past). the last weakness is related to behavioral finance theory, which can be improved with information on investor characteristics or behavior in the countries studied. further research can take some suggestions to strengthen analysis and results: (1) adding the amount of data processed by population and sample systems, for example the population is a stock index of a country with a sample of manufacturing companies, or sectoral industries, (2) adding the number of samples countries as a comparison, can be done on the asian continent, or other continents such as europe and the americas, (3) increasing the research period, for example in the research, namely the election event, the research period can be improved starting from the day after the general election until the inauguration of the candidate pair/elected representative board, (4) using a different formula in the expected return calculation, namely using the market model method with ordinary least square regression, (5) deepening the discussion of behavioral finance theory, which includes the characteristics or behavior of investors, factors that investors consider to invest, and its relation to conditions that occur in the research country. acknowledgement the authors would like to thank the faculty of economics and business of atma jaya catholic university of indonesia for providing the funds for our participation in this journal. references arif, a. a., & sudjono, s. 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(2016). the impact of election on stock market returns of government-owned banks: the case of indonesia, malaysia and thailand. asian journal of business and accounting, 9(1), 31-58. *corresponding author p-issn: 1412-1212 e-issn: 2541-2388 147 the winners, 22(2), september 2021, 147-153 doi: 10.21512/tw.v22i2.7025 women’s support in resilience of online taxi drivers’ families in jakarta during covid-19 pandemic dhita ayu pradnyapasa1; renny nurhasana2*; ni made shellasih3; anita siti fatonah4; fadhilah rizky ningtyas5 1,2urban studies program, school of strategic and global studies, universitas indonesia jl. salemba raya no. 4, kenari, senen, jakarta pusat 10430, indonesia 3,4,5center for social security studies, school of strategic and global studies, universitas indonesia jl. pegangsaan timur no. 16, pegangsaan, menteng, jakarta pusat 10320, indonesia 1dheita.ayu@gmail.com; 2renny.nurhasana@yahoo.com; 3nmshellasih@gmail.com; 4anitafatonah2@gmail.com; 5fadhilahrzkn@gmail.com received: 31st january 2021/ revised: 11th april 2021/ accepted: 12th april 2021 how to cite: pradnyapasa, d. a., nurhasana, r., shellasih, n. m., fatonah, a. s., & ningtyas, f. r. (2021). women’s support in resilience of online taxi drivers’ families in jakarta during covid-19 pandemic. the winners, 22(2), 147-153. https://doi.org/10.21512/tw.v22i2.7025 abstract the research aimed to assess women’s support to maintain the resilience of online taxi drivers’ families in jakarta during covid-19 pandemic. the research applied a qualitative method. data were collected by conducting interview with four participants, who were the wives of online taxibike drivers. four dimensions were believed to be important for family resilience within the pandemic, namely women’s support to integrity variable, physical endurance, economic resilience, and socialpsychological resilience. the research finds various important women’s support in maintaining the family resilience during covid-19 pandemic. it is found that women as wives are able to retain good communication between family members, provide nutritious food for family members, support economic resilience by minimizing expenditures, manage to teach children at home while taking care of younger babies, and so forth. the research limitation is on the variability of the participants. it is suggested that further research implements quantitative methods to gain more data and expand the number of participants for more exploration. keywords: women support, family resilience, online taxi drivers i. introduction covid-19 is an infectious disease caused by a new virus derived from the coronavirus type which is referred to as severe acute respiratory syndrome coronavirus 2 (sars-cov-2). this is a new virus which is a similar type of virus that caused an outbreak in 2002 (“transmission of sars-cov-2”, 2020). based on data as of october 3, 2020, there were 299.506 covid-19 cases recorded in indonesia, with the metropolis as the largest contributor to the number of cases. dki jakarta as the center of the capital is severely infected as data shows one million positive cases in january 2021. the dense capital city area is one of the catalysts in the spread of this virus transmission, which causes national health crisis. as a result of intense widespread, the government took several efforts to suppress the spread of this virus. one of the efforts was to implement pembatasan sosial berskala besar/psbb (largescale social restrictions) to restrict the physical contact of the community. dki jakarta is one of the regions that has implemented the first phase of psbb, commencing from april 10 to june 4, 2020. this has been regulated in the special regulation of the governor of dki jakarta no. 33/2020 concerning the implementation of psbb. this social restriction has a social and economic impact on various fields in society as it limits people for work (iswari et al., 2020). one of the affected work fields is public transportation. one of the public transportations that has been impacted is ‘online taxi’. online taxi is an informal sector currently and widely used in indonesia, and is continuously growing (suprayogaswara, 2017). based on the dki jakarta governor regulation no. 33/2020, the psbb period had caused the online taxibike drivers restricted to only transporting goods, not passengers. the number of passengers for online taxi-car were limited. according to eddy and harahap (2020), it is known that the proportion of online taxibike drivers' income decreased by around 58,14%. this affects the family income (lizya et al., 2021). 148 the winners, vol. 22 no. 2 september 2021, 147-153 in 2020, it was stated that there was a significant decrease in income during the psbb period, while drivers still had to compete with other drivers for passengers. this income reduction can indirectly affect the resilience of online taxi drivers’ families. indicating from the perspective of national resilience, family resilience is one of the most important frontline vanguards to maintain and strengthen the nation. this is due to the important role of family resilience in realizing quality human resources (puspitawati & herawati, 2018). family resilience can be defined as a condition that a family has in the form of tenacity and toughness containing physical and material abilities that are useful for sustaining and developing themselves, creating a harmonious family and improving physical and mental welfare and happiness (decree no. 52, 2009). many shall play a role in maintaining family resilience, one of which is the support of women in the family. the support of women in family resilience is crucial due to the responsibility of a woman’s substantial roles in each household activity (robinson & bessell, 2002). assessing family resilience uses the concept of family resilience and welfare issued by the ministry of women empowerment and child protection (mowecp) no. 6 of 2013 concerning the implementation of family development. the assessment is done through five-dimension-assessment with 15 variables. the importance of women’s support in family resilience have been variously studied. however, the specific study related to the women’s support in online taxi’s families are rarely discussed. the research objective is to assess women’s support to maintain the resilience of online taxi driver’s families in jakarta during covid-19 pandemic using qualitative data collection method. it is important to discuss the issue since the number of online taxis in jakarta are growing. ii. methods the research applies a descriptive research design with a qualitative approach. qualitative research emphasizes research procedures that will produce data in the form of words which describe the behavior or events of the object being observed. this method is used to explore and describe the wife's support for family resilience using words so that it could be seen comprehensively the problems experienced by online taxi drivers’ wives during the covid-19 pandemic. the research location is conducted in the dki jakarta area since it is one of the provinces with high increase of covid-19 cases in indonesia. the sampling technique is purposive sampling to represent the number of participants required. the method is indepth interview which is conducted by using a zoom meeting application so that a two-way communication occurs. the participants are the wives of online taxi drivers who previously participate in the focus group discussion (fgd) prior to the covid-19 pandemic, which is held with several online taxi drivers to find out how much their income increased before and after becoming online taxi drivers. in the research, four wives of online taxi drivers are interviewed. before starting the interview, the research objectives and terms for voluntary participation are explained to the participants. research participants have signed the consent form digitally and the confidentiality of the identities of study participants is guaranteed. the participant's identity is erased in the transcript, so initials are used to label the transcript. all interview processes are recorded via video and audio with the permission of the research participants, which can be accessed only by the researcher for research purposes. the interview was conducted from 8 august 2020 to 11 august 2020. the interview instrument refers to the indicators of family resilience issued by the ministry of women empowerment and child protection (mowecp) republic of indonesia. the research instrument is modified by following the research objectives. the data analysis is performed using the content analysis of the interview transcript. this analysis systematically converts several texts into a highly ordered and concise summary of the main results (erlingsson & brysiewicz, 2017). in order to maintain the accuracy of the information, data collection is carried out on the same day as the data analysis. audio recording for the transcript is administered in less than 24 hours after the interview was conducted. iii. results and discussions there are four online taxi drivers’ wives, whose husbands are still working during the covid-19 pandemic. the age of the participants ranges from 21 to 32 years. all respondents have two children whose ages range from 9 months to 10 years (table 1). information also explores on the side job that a wife may increase family income. driver 1's wife (d1) is 30 years old having two children. her first child is nine years old and the second child is seven years old. driver 2's wife (d2) is 32 years old with two children. her first and second child is ten and six years old respectively. driver 3's wife (d3) is 28 years old having two children as well. the oldest child is seven years old and the youngest is nine months old. overall, the data shows that d1, d2, and d3 do not have side jobs thus there is no other source of income for the family. meanwhile, driver 4's wife (d4), a 21-years-old mother of two children (five and three years old), sells clothes online as her side job. dimension one is online taxi drivers’ wives’ support for the family integrity. it has three variables and seven indicators. in the research, two variables are assessed, namely family integrity and gender partnership. in the family integrity variable, one variable will be assessed. the indicator of this variable is that all family members, whether husband, wife 149women’s support in resilience.... (dhita ayu pradnyapasa, et al.) with or without children, live in one house and none are separated. based on interviews with four drivers’ wives, three of them live with their husbands while one lives separately from her husband. “yes, i live far away from my husband, i am in cianjur, my husband works as a driver in jakarta,” said by d3. another online taxi driver’s wife said that the reason for staying with their husband is because they think about their children's condition. “...i still survive because of my children..” noticed by d4. further questions explore how the wives support their husbands to make a living during this pandemic. two respondents state that husband and wife always provide support in the form of motivation to deal with the era of covid-19 pandemic. “i continuously support him to maintain his motivation to meet our daily needs. i always remind him to keep praying, look after his own health and his daily meals when he goes to work every day”, said by d1. “whatever is happening right now has become our life test. not only did i strengthen my husband, but my husband also gave me the motivation that there will be times we are happy again”, said by d2. online taxi-bike drivers’ wife who does not live in the same house with her husband still provides support by maintaining communication and paying attention to her husband so that he is always safe at work. “my support during this pandemic, i always remind my husband to stay healthy and comply with health protocols. we are never late to communicate every day”, said by d3. the next variable is gender partnerships which have four indicators. any indicator assessed is openness in financial management. this indicator assesses whether the husband and wife can jointly manage family finances transparently. most of the drivers’ wives admit that they are being transparent with their husbands in managing the family finances. they acknowledge that it is difficult to manage family finances, especially when the husbands’ income decrease as an impact of the psbb policy. one of the wives states that in meeting daily needs during the pandemic, she asks parents for help. dimension two is support of the drivers’ wives for physical endurance. the dimensions of physical endurance have one variable which is the adequacy of food and nutrition. food adequacy is seen based on the ability of family members to fulfil two complete meals per day. the complete food category includes rice, vegetables, fish, tempeh, tofu, and fruit. based on the results of interviews, a decrease in income due to psbb made them minimize their family's needs, one of which was food. the majority of drivers’ wives still rely on their husbands to meet the food needs of their families. however, the wives still prioritize providing nutritious food for their family members, especially their children. “psbb caused our income to decrease. all needs are minimized .. ”, noticed d1. “i prioritize nutritious ones because my children are still young, they still need good nutrition. i try to give priority to food needs,” said d3. even though the husbands’ income has decreased, some of the wives are making efforts to meet family needs. a few become online sellers for clothes as a side job, and some empower the house yard to be a planting medium as a source of family food. “incidentally there is a house yard that can be benefitted from,” said d1. the aid from the government or the private sector is also crucially helpful in fulfilling family meals. they claim to get social aid from the government in the form of rice, instant noodles, canned fish food, sugar, flour, cooking oil, and vitamin c. the wives take advantage of this assistance to supplement their family consumption in this pandemic. besides, there is also private aid where the husbands sometimes get table 1 informant’s descriptive data no informant age (years) children (years old) side job/income 1. driver's wife 1 (d1) 30 1st: 9 2nd: 7 not available 2. driver's wife 2 (d2) 32 1st: 10 2nd: 6 not available 3. driver's wife 3 (d3) 28 1st: 7 2nd: 9 months not available 4. driver's wife 4 (d4) 21 1st: 5 2nd: 3 online clothing/up to idr 500.000 (usd 34,5) total 4 participants 150 the winners, vol. 22 no. 2 september 2021, 147-153 rice box which is then brought home to their family. the next indicator is the nutrition adequacy. it is judged by whether family members suffer from nutritional problems. nutritional problems in question are extremely thin, fat, and stunted. the wives point out that no one is diagnosed with nutritional problems. however, the wives are worried about the fulfillment of their children's nutrition, considering that the majority of the participants’ children are still growing. they always think positively and strive for the fulfillment of the nutritional needs of their children. “thank god we are all here in good health. no one is malnourished. for food, i prioritize nutritious ones because my children are still young, they still need good nutrition. i try to prioritize food needs”, said d3. dimension three is support from the wives of online taxi drivers to economic resilience. in this dimension, economic resilience is assessed based on four variables with seven indicators. the first variable is a family residence with homeownership indicator. three of the four participants do not have their own homes. only one informant owns a house, which is located in her hometown, not jakarta. the rest of the participants rent houses. participants admit that they had been unable to pay for rent during this pandemic. furthermore, they try to help their husbands, one of which is by borrowing from their families. some ask for relief in the form of instalments or delaying payments to the homeowner. “yes, my husband and i were in arrears for rent. then, we have to borrow it from our relatives first. fortunately, some have it so they can cover the arrears first so that we are not expelled,” said d1. “in arrears at some times, but my husband and i try to talk nicely to the owner when things are difficult. luckily the owner is a nice person, so we can postpone the payment. the important thing is we will pay,” noticed d2. the next variable is family income, which is assessed based on the per capita income of the online taxi drivers’ family during the pandemic. three wives admit that their husbands’ incomes have dropped dramatically. they do not have side jobs, so they rely on income from their husbands. meanwhile, their husbands’ main income is only from online taxi driver. to meet family needs, one of the wives sell clothes online. however, it is rare for people to buy clothes during the pandemic. the average income earned from selling online is idr 300.000-500.000 (usd 20,7-34,5). other participants had tried to register for the pre-employment program held by the government, which later can be used to increase their capacity and open a business by relying on the incentive money. however, until the time the interview is conducted, there has been no result of the pre-employment card registration. family income can also be described by the indicator of sufficiency. this indicator is assessed by finding out whether a person has ever been in arrears of paying for electricity. the results of the interview show that some respondents are in arrears to pay electricity for up to two months. however, during the pandemic, there was a government policy which eliminates electricity bill for those with 400 watts of power. “at that time, i was two months in arrears for electricity, fortunately, i got a decent online order of clothes. thank god it paid off,” said by d4. the next variable is children's education tuition. this variable is measured by two indicators. the first indicator is the ability to fulfill children's education, which is measured by whether they have ever been in arrears to pay school tuition as well as school supplies. the second indicator is the sustainability of children's education assessed by children who have dropped out of school. during the pandemic, schools are closed, and school fees are already at no cost. however, during the teaching at home, parents must provide internet quota for online learning. the support of wives in their children's education during pandemic is more dominant in teaching their children compared to husbands, so wives have an important role in this. while their husbands work, they take care of household affairs, including their children’s education. however, one of the wives admitted that it is a hassle to help teaching children for school since they also have babies to look after. the last variable is family financial security assessed using two indicators. the first indicator is family savings which are seen based on ownership of savings in the form of money. some participants have family savings that are managed by them. although they admit that there is no money to save during the pandemic. “during the psbb period we can not save money, we only skimp our budget. we prioritize what is more important. i take part in managing savings because savings are for the benefit of my family as well,” said d3. the next indicator is the ownership of health insurance or other insurance in the family members. some of the participants admit that they do not have health insurance since they are unable to pay for bpjs. however, participants always support their husbands to apply health protocols while working. “i am being strict with my husband. i must apply the health protocol. if he just goes back home, he directly has to take a shower and changes the clothes, so that those who are at home are not infected,” said d2. dimension four is support of the wives for social-psychological resilience. social psychological 151women’s support in resilience.... (dhita ayu pradnyapasa, et al.) resilience is assessed based on family harmony variables. it indicates on non-violent attitudes towards women by looking at the violence perpetrated between husband and wife. the wives admit that during the pandemic, their family never experienced domestic violence from their husbands. the wives must be able to control emotions and understand their husbands as a form support to maintain family harmony. “i never received any violence. just an ordinary argument. i have to give in when my husband gets emotional,” said d4. family harmony can also be determined from the indicator of anti-violence behavior against children. this indicator is assessed based on the presence of violence perpetrated by parents and children. the majority of the wives are the most responsible for taking care of their children at home. during the learning from home, they admit that they never commit any violence to their children. as a mother, they admit to hold back their emotions even though the situation at home is sometimes not conducive, which makes them quite overwhelmed to manage it. however, their children have never been abused. the covid-19 pandemic has made various aspects of social and economic conditions even more arduous. women's support in maintaining family integrity and harmony in the pandemic is highly influential. family resilience is measured based on the presence of husband and wife in one house. the research has one participant who lives separately from her husband. families who are not complete in one house have the potential to have lower family resilience. one of the characteristics of the family disintegrated where the husband and wife are not in the same house is the childcare pattern. this also affects the psychological condition of all family members (saefullah, giyarsih, & setiyawati, 2018). the wife who does not live with her husband point out that intense communication is the key to maintain the integrity of their families. however, long-distance communication using telephone media can be one of the obstacles in the communication process. some minor conflicts in the family may arise due to the covid-19 pandemic. therefore, the quality of communication between partners is needed, both verbal and nonverbal, to resolve the conflict (pangaribuan, 2016). al amin (2018) also states that communication procedures are significantly urgent for the family's survival and resilience. gender partnerships can also be seen in the management of family savings. gender partnerships have an equal and fair function between husband and wife in the distribution of work and roles (puspitawati, simanjuntak, & hayati, 2012). the participants admit that financial management, especially savings finance, is carried out jointly. open financial management between husband and wife also needs to be done so that suspicion does not arise. ownership of savings is an indicator of family economic resilience. this family's economic resilience will affect psychological and social resilience (alie & elanda, 2019). in maintaining good family resilience, adequate food and nutrition are important for all family members. during the pandemic, the wife's support in selecting and processing nutritious food is needed, even in difficult circumstances. participants admit that they are concerned with the nutritional needs of the family since their children are in their infancy. in addition, they point out that the provision of food subsidy is profoundly helpful in fulfilling the nutritional needs of the family during the pandemic. the fulfillment of individual nutrition has a crucial role in maintaining immunity so that the body remains healthy and reduces the risk of contracting the virus. therefore, mothers' role is essential in the keeping of family members (valentino et al., 2020). the level of economic welfare in the family can be described by the family's ability to meet the basic needs. families that have been able to meet one of their primary needs, namely a house, have the potential to build a family with a better level of resilience. however, the fact shows that three out of four wives do not own a house and rent, instead. besides, one of them starts an online shop business to support the family income. it shows that women play a role in guiding, educating children, and accompanying husbands, which affects family economic resilience (aziz & sholikha, 2018). regarding family resilience, family income emphasizes the adequacy of meeting the needs of the family. families who have sufficient income are believed to meet daily needs and expected to have better economic resilience than others. income has been greatly reduced during the covid-19 pandemic. however, the wives state that they make efforts to borrow and ask for remission from relatives due to a difficult time. social support from relatives and people really helps ease the burden. the social support can reduce the possibility of psychological pressure on a person (serafini et al., 2020). furthermore, the government is implementing distance learning in psbb period. parents’ support in the learning process plays a critical role. the role of parents is much needed as substitute teachers at home in guiding children during the distance learning process (cahyati & kusumah, 2020). several participants admit that they are mothers who assist children in learning. parental motivation is important in the learning that is being carried out by the child. motivation is what will encourage children to learn (wahidin, 2019). a family is believed to have good psychological resistance when they can cope with various nonphysical problems such as positively controlling emotion, growing a sense of concern for their wives, and establishing a positive self-concept and a desire for family harmony (puspitawati, 2015). controlling emotions is one of the ways that the participants never receive domestic violence from her husband despite 152 the winners, vol. 22 no. 2 september 2021, 147-153 the increasing cases of domestic violence in the covid-19 pandemic, either by husbands or by wives (kuswanti et al., 2020). covid-19 pandemic has caused stress to married couples in indonesia. most of them are trying to retain marriage by maintaining family harmony, such as: 1) supporting each other through difficulties; 2) resolving economic crises together; 3) giving in to each other to avoid fighting; 4) accepting family conditions as they are; 5) remind each other to think and behave positively; 6) strengthen each other in terms of religiosity; and 7) maintaining communication between family members (winurini, 2020). the role of women as mothers is important in paying attention to the psychological growth and development of each member of the family. mothers as mental and emotional protectors are ready to listen to the life stories of each family member and provide positive input with support and advice (zahrok & suarmini, 2018). family resilience is the family's ability to manage the resources owned by the family and overcome the problems to meet the physical and psycho-social needs of the family. the optimal family resilience effort can ensure the family's survival in adapting and surviving the various problems and difficulties (musfiroh et al., 2019). the research shows similar results with previous studies related to women’s support on family’s resilience. a husband plays important roles on gender partnerships to finish the family work and roles (puspitawati et al., 2012). however, besides husband, women’s role especially mothers are very important in keeping the stability of family members (valentino et al., 2020), family economic resilience (aziz & sholikha, 2018), and psychological and social resilience (alie & elanda, 2019). iv. conclusions the consequences of the covid-19 pandemic have had an impact on all aspects, both social and economic, especially on online taxi drivers. there are several dimensions of the family resilience of online taxi drivers that are greatly affected by various aspects, both economic and physical resilience. one of them is helping the family economy by opening their own business. the wife also plays a role in providing solutions to the family economic problems. meanwhile, in the aspect of family inheritance from the family integrity dimension and the socioeconomic dimension, it is not unduly affected due to the high support from the wives. even in uncertain circumstances, the wives always prioritize nutritional intake for their families. research findings show that women’s support in maintaining the resilience of online taxi drivers’ families during covid-19 pandemic is important. the first dimension is family integrity variable. the wives have tried to provide support by maintaining communication and paying attention to the husbands, so they are always safe at work. the second dimension is physical endurance. wife have tried to afford to the adequacy of food and nutrition. even though the husband's income has decreased, some of the wives are making efforts to meet family needs. in the third dimension, the wives provide support to economic resilience by minimizing the expenditures and/or by borrowing from their families. some ask for remission for rent payments to the homeowner. the fourth dimension is wife’s support for social-psychological resilience. most of the wives are the most responsible for taking care of their children at home. during the learning from home, the participants admit that they never commit any violence to their children. as a mother, they hold back their emotions even though sometimes they are quite overwhelmed to manage situations at home. however, their children have never been abused. the research implication shows the importance of women’s support on family’s resilience of online taxi families in jakarta. the role of women is as important as the role of the husbands. women’s role especially mothers are very important in the keeping the stability of family members especially four dimensions studied in the research namely: 1) family integrity; 2) physical endurance; 3) economic resilience; and 4) social-psychological resilience. the limitation of the research is the variability of participants. it is suggested that further research implement quantitative methods to collect more data and expand the number of participants for more reliable research results. references al amin, m. n. k. 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(2018). peran perempuan dalam keluarga. iptek journal of proceedings series, 5, 61-65. http://dx.doi.org/10.12962/ j23546026.y2018i5.4422. *corresponding author p-issn: 1412-1212 e-issn: 2541-2388 183 the winners, 22(2), september 2021, 183-189 doi: 10.21512/tw.v22i2.7064 implementation of fiduciary registration according to finance ministry, police, and financial services authority (ojk) suwinto johan* management department, faculty of business, president university jababeka education park, jl. ki hajar dewantara, kota jababeka, cikarang baru, bekasi 17550, indonesia suwintojohan@gmail.com received: 15th february 2021/ revised: 22nd april 2021/ accepted: 22nd april 2021 how to cite: johan, s. (2021). implementation of fiduciary registration according to finance ministry, police, and financial services authority (ojk). the winners, 22(2), 183-189. https://doi.org/10.21512/tw.v22i2.7064 abstract the research aimed to find out fiduciary guarantees registration from a legal perspective, especially the executive or administrative regulations. the research examined the existing regulations and laws by analysing primary and secondary data using normative juridical methods. the research concludes that the fiduciary registration obligations stipulated in the regulation of minister of finance (pmk) number 130/pmk.010/2012 are not in synchronic with the financial services authority regulation (pojk) number 29/pojk.05/2014, which is replaced by the financial services authority regulation number 35/pojk.05/2018. revocation of regulation of minister of finance number 130/pmk.010/ 2012 by regulation of the minister of finance number 23/ pmk.010/2017 is not accompanied by amendments to the regulation of the republic of indonesia national police number 8 of 2011. the loan agreement remains valid if it fulfills the principles of the agreement. it is suggested that relevant institutions, particularly the financial services authority (ojk) as the financial industry supervisor, take initiatives to synchronize all regulations for the implementation of fiduciary registration. keywords: fiduciary registration, finance ministry, police, financial services authority (ojk) i. introduction the 1998 economic crisis has brought many changes, especially in the legal system in indonesia. the banking industry encountered a crisis, in which banks experienced difficulties executing collateral since the guarantees provided could also be pledged to several parties (double or triple pledged). banking supervision by regulators is not strict (kartini, 2016). the provision of credit with guarantees, especially guarantees of the movable good or property, has not been regulated concretely in indonesia's legal system before 1999. a fiduciary guarantee institution is a form of guarantee originated from jurisdiction which has become a concrete legal route confirmed in law number 42 of 1999 on fiduciary guarantee. the purpose of the fiduciary guarantee law (uu jf) is to provide legal protection to parties and legal certainty to credit providers (akhsin & mashdurahatun, 2017). one of the credit collaterals for movable goods or objects is a motor vehicle (kumaladewi, 2015). the fiduciary is the transfer of rights of a tangible or intangible movable object by the fiduciary or object's owner to another party, where the object is still used or controlled by the fiduciary or the owner. fiduciary security is a security right over tangible or intangible movable objects exercised by the fiduciary or the object's owner, where the control of the goods remains with the fiduciary. the giver of the fiduciary is the owner of objects of fiduciary guarantee. a fiduciary is a person or company that has receivables whose payment is guaranteed by fiduciary collateral objects. fiduciary recipients are banks and non-bank financial institutions such as financing or leasing companies. these definitions are deduced from law number 42 of 1999 on fiduciary security. based on the regulation of the financial services authority (peraturan otoritas jasa keuangan/ pojk) number 35/pojk.05/2018 on the operation of a financing company, financing company is a business entity or company engaged in the financing of goods and/or services. financing companies may carry out three main types of financing: 1) working capital financing, 2) investment financing, and 3) multipurpose financing. multipurpose financing is the 184 the winners, vol. 22 no. 2 september 2021, 183-189 financing of goods and services required by the debtor for use or consumption and not for business purposes or productive activities within the agreed period. the distribution of multipurpose financing under collateral for movable goods is the main activity of the financing industry. movable goods financed are 4-wheeled vehicles, 2-wheeled vehicles, and another consumer financing, such as refrigerators, televisions, and other home appliances. there is a condition in which the debtor remains using these goods, and the rights to the goods are granted to the financing company with a fiduciary guarantee. the implementation of fiduciary security registration has faced several obstacles since the fiduciary guarantee law was issued in 1999. in the early stages of implementation, fiduciary offices were not yet established across indonesia. the fiduciary office was only available in jakarta. on the other hand, finance companies have financing networks throughout indonesia. finance companies have difficulty applying for fiduciary guarantees at an early stage. fiduciary guarantee must be registered at the fiduciary registration office by issuing a fiduciary certificate (nasution & limbong, 2019). fiduciary guarantees aim to reduce the risk of credit provided by lending institutions. this guarantee is an additional guarantee to secure the repayment that have been given or loan funds provided by finance companies or banks (setiono, sulistyo, & widayati, 2021). registration of fiduciary guarantee is subject to fees. processing fees include insurance fees, administrative fees, survey fees, stamp fees, insurance fees, and other costs, such as fiduciary security registration fees. in general, financing companies charge fiduciary security registration fees to borrowers, consumers, or debtors since they do not cover it. the police arrests several board of management of financing companies for failing to carry out fiduciary guarantee registration. police suspects that leaders of financing companies have imposed fiduciary fees on consumers or their debtors, but do not register fiduciaries (tobing, 2013). financing companies that have received payment of a fiduciary registration fee and do not register may be subject to suspicion of embezzlement of funds (ulum, 2013), which is a fiduciary guarantee registration fee. fiduciary security registration has experienced several technical and non-technical challenges. the unclear implementation of fiduciary guarantees' registration has shown that the preparation for the implementation of fiduciary was not well-coordinated between institutions when it launched. the fiduciary guarantee has executorial power. when a debtor experiences a default, the creditor can execute objects that become fiduciary guarantees without going through a judicial process. the creditor has the authority to carry out the parate executie of the fiduciary security object (dewi, saptanti, & purwadi, 2017). registration of fiduciary security is essential since it is related to material rights that possess droit de suite characteristics, droit de preference, specialty, and publicity (rufaida & sacipto, 2019). execution of guarantees with the title executorial creditor can be executed directly through a public auction without going through a court. underhand sales can be made based on an agreement between the giver and recipient of the fiduciary guarantee (hapsari & mulyoto, 2017). on article 30 of the fiduciary guarantee law, the creditor has been granted the right to repossess with the executorial title to take the fiduciary guarantee object directly (heriawanto, 2019). according to the fiduciary guarantee law, a takeover of a motorized vehicle can be done directly if it is the fiduciary security object of a debtor who has defaulted (ramadhanneswari, suharto, & saptono, 2017). at the end of 2019, the constitutional court issued a constitutional court decision (putusan mahkamah konstitusi/pmk) number 18/puuxvii/2019, which states that according to article 15 paragraph (2) of law number 42 of 1999 on fiduciary guarantee, as long as the phrase "executorial power" and the phrase "equal to a court decision that has permanent legal force" are contrary to the 1945 constitution of the republic of indonesia, they do not have binding legal force as long as they are not interpreted as fiduciary guarantees, where there is no agreement on default. the debtor objects to voluntarily hand over the object that is pledged as the guarantee of fiduciary. all legal mechanisms and procedures in the fiduciary guarantee certificate's execution must be implemented and applied in the same way as a court execution decision that has permanent legal force. the constitutional court decision also states that according to article 15 paragraph (3) of law number 42 of 1999 on fiduciary security, as long as the phrase "default of promise" is contrary to the 1945 constitution of the republic of indonesia, it has no binding legal force as long as it does not mean that “the existence of a default is not determined unilaterally by the creditor, but based on an agreement between the creditor and the debtor or based on legal remedies which determine that the default has occurred”. the constitutional court decision states that according to article 15 paragraph (2) of law number 42 of 1999 on fiduciary guarantee, as long as the phrase "executorial power" is contrary to the 1945 constitution of the republic of indonesia, it does not have binding legal force as long as it is not interpreted as a fiduciary guarantee, where there is no agreement regarding default. the debtor objected to voluntarily hand over the object, which is a fiduciary guarantee. all legal mechanisms and procedures in the fiduciary guarantee certificate's execution must be carried out and applied in the same manner as a court execution decision that has permanent legal force. fiduciary security execution is an activity to confiscate and sell objects that are the objects of fiduciary security (nusantara & wirasila, 2018). the fiduciary guarantee agreement provides creditors with weak legal protection. legal protection for creditors can be reinforced by establishing a guarantee execution agency and socialization on fiduciary implementation 185implementation of fiduciary registration.... (suwinto johan) (winarno, 2013). research on fiduciary guarantee is rarely conducted thoroughly. research on fiduciary guarantee since the issuance of the law in 1999, which connects the fiduciary guarantee law with implementing regulations, especially those related to the financing industry, is still rare. the research provides benefits for the financing industry and financing law practitioners in conducting their business activities connected with fiduciary guarantees. the fiduciary guarantee deed must be done in an authentic form. an authentic deed must be done based on article 1868 of the civil code, where one of the conditions is that it must be made by and before a notary (suharto, 2017). a fiduciary guarantee agreement that is not made in a notary deed or is not registered remains an agreement that binds the parties as long as the agreement has fulfilled the principles based on the criminal code article 1320 provisions article 1338 regarding the principle of pacta sunt servada. this agreement remains a valid agreement (huru, 2019). fiduciary registration still has several obstacles, namely fiduciare eigendom overdracht, deliberate acts against the law by one of the parties, and the guarantee given remains in the guarantor's control, so the fiduciary recipient will have difficulty executing (paparang, 2014). the transfer of fiduciary items by the fiduciary may be subject to criminal penalties. this can be excluded if the fiduciary has paid off the debt to the fiduciary (sriono, 2019). the research has four questions: how are the regulations changed for fiduciary security registration from the ministry of finance to the financial services authority regulation?; is every disbursement of financing with a movable property guarantee must be registered for fiduciary security?; can the financing company charge an administration fee to the debtor without registering for fiduciary security according to the underlying law and regulations?; can financing companies carry out consumer financing without registering a fiduciary guarantee according to the underlying law and regulations? ii. methods the research applies a normative juridical method to examine the existing laws and regulations in indonesia. the research analyzes primary and secondary data. primary data are information on the board of directors' positions directly obtained from the field. secondary data is the current laws and regulations. the research begins with collecting materials related to legal matters with material identification procedures related to the research topic and an inventory of materials related to the research topic. the material inventory consists of primary legal materials, secondary legal materials, and tertiary legal materials. primary legal materials are legal materials consisting of laws and regulations in indonesia. secondary legal materials are used to explain the primary legal materials, such as books, reports, and others. tertiary legal materials are legal materials that serve as secondary guidance, such as additional information and data related to research topics sourced from the internet (johan & ariawan, 2020). iii. results and discussions the fiduciary guarantee law's implementation has undergone several changes in line with changes in the relevant authorities. it results in a change in the fiduciary guarantee registration process. the regulation of the chief of police of the republic of indonesia is a regulation that regulates the procedure for the execution of collateral with the fiduciary guarantee, which is summarized in table 1 with the other regulations. furthermore, there is a regulation of the minister of finance of the republic of indonesia (peraturan menteri keuangan/pmk) number 130 of 2012 on the obligation to register fiduciary for motor vehicle financing. this regulation creates uncertainty over special regulations regarding motorized vehicles only. movable goods are not only motorized vehicles, but this regulation explicitly regulates the obligation to register motor vehicles. in 2014, the financial services authority of the republic of indonesia (otoritas jasa keuangan/ojk) issued regulation of financial services authority of the republic of indonesia number 29 of 2014, which regulates that fiduciary is one way of mitigating risk. in financing business, it is not required to register a fiduciary guarantee, especially for motorized vehicles. this is different from regulation of the minister of finance of the republic of indonesia number 130 of 2012. regulation of the minister of finance of the republic of indonesia number 23 of 2017 revokes regulation of the republic of indonesia number 130 of 2012. for approximately five years, the financial industry continues to carry out fiduciary registration as regulated in regulation of the minister of finance number 130. the inconsistency between regulation of financial services authority and regulation of the minister of finance creates legal uncertainty, even though the supervision of the financing industry has shifted from capital market and financial services supervisory institution (bapepam lk) under the ministry of finance to the financial services authority (ojk) per law number 21 of 2011 on the financial services authority. regulation of financial services authority of the republic of indonesia number 35 of 2018 reaffirms that fiduciary security registration is a form of risk mitigation. registration of fiduciary security is not an obligation for motor vehicle financing. to execute the guarantee, the finance company is required to have a fiduciary certificate. however, hapsari and mulyoto (2017) state that underhand sales of collateral must be made based on the fiduciary guarantee agreement. the fiduciary guarantee is an additional to the repayment of 186 the winners, vol. 22 no. 2 september 2021, 183-189 loan provided by finance companies or banks (setiono et al., 2021). nowadays, financing companies still experience uncertainty in doing business. the execution of the fiduciary guarantee must have a fiduciary guarantee certificate. if there is no fiduciary certificate, the business actor is prohibited from executing it. on the other hand, after the issuance of the constitutional table 1 summary regulation regulation of the chief of police of the republic of indonesia number 8 year 2011 regulation of the minister of finance of the republic of indonesia number 130/pmk.010/2012 regulation of financial services authority of the republic of indonesia number 29/ pojk.05/2014 regulation of the minister of finance of the republic of indonesia number 23/pmk.010/2017 regulation of financial services authority of the republic of indonesia number 35/pojk.05/2018 security against the object of the fiduciary guarantee can be carried out with the following requirements: there is a request from the applicant, has a fiduciary guarantee certificate, registered fiduciary security at the fiduciary registration office, has a fiduciary guarantee certificate and fiduciary guarantee is in the territory of indonesia financing companies that provide financing for motor vehicles must register fiduciary security at the fiduciary registration office. registration is obliged to register a fiduciary guarantee no later than 30 calendar days. financing companies are prohibited from withdrawing fiduciary objects in the form of motorized vehicles if there is no fiduciary guarantee certificate. details of costs related to financing provided must contain at least insurance/guarantee/ fiduciary costs. an explicit clause of fiduciary security if there is an imposition of fiduciary security. one way to mitigate risks is to charge fiduciary security on financed goods or goods that become collateral for financing activities. financing companies that carry out financing by imposing fiduciary security must register at the fiduciary registration office. the obligation to register fiduciary security applies to financing originating from follow-up financing and co-financing. financing companies are required to register no later than one month. financing companies are prohibited from executing collateral if there is no fiduciary guarantee certificate. the execution of fiduciary guarantees must meet the provisions and requirements of the law regarding fiduciary security and have been agreed upon by the parties. administrative sanctions for fiduciary still apply based on regulation of the minister of finance of the republic of indonesia number 130/ pmk.010/2012 revocation of regulation of the minister of finance/decree of the minister of finance whose regulatory authority is transferred from the ministry of finance to the financial services authority, including regulation of the minister of finance of the republic of indonesia number 130/pmk.010/2012 on registration of fiduciary guarantee for financing companies conducting financing for motor vehicles with fiduciary guarantee imposition financing companies are required to mitigate financing risks. one way to mitigate risks is to charge fiduciary security for collateral from financing activities. financing companies that mitigate risks by imposing fiduciary security must register fiduciary guarantees at the fiduciary registration office. source: research results 187implementation of fiduciary registration.... (suwinto johan) court decision of the republic of indonesia number 18/ puu-xvii/2019, the execution of the fiduciary guarantee experiences uncertainty once more. since regulation of the minister of finance of the republic of indonesia number 18 of 2019 has emphasized that article 15 must go through a court process or obtain an agreement of default by both parties. the number of implementing regulations from various agencies has resulted in uncertainty regarding the implementation of fiduciary guarantees by nonbank financial institutions, especially the financing industry. the objective of the fiduciary guarantee law is to provide legal certainty. the implementation of the fiduciary guarantee law and implementing regulations creates uncertainty for businesses. the implementation of fiduciary security registration must be restructured by all related parties, especially financial services authority. the implementing regulations involve businesses, also for industries other than the financial industry, notary, and banking. in accordance with regulation of financial services authority of the republic of indonesia number 35 of 2018, financing companies are not required to register for fiduciary security. registration of fiduciary security is one of three ways to mitigate risks as stated in regulation of financial services authority of the republic of indonesia number 35 of 2018. this is different from regulation of the minister of finance of the republic of indonesia number 130 of 2012. however, to carry out the execution of a fiduciary guarantee, a financing company requires registration of a fiduciary guarantee. this is in accordance with the decree of the national police chief and regulation of financial services authority of the republic of indonesia number 35 of 2018 that to carry out the execution of fiduciary guarantees requires a fiduciary certificate. a fiduciary certificate will be issued by the fiduciary registration agency. in addition to a fiduciary certificate, a finance company requires a debtor's default condition and a warning letter or subpoena that has been given by the financing company to the debtor. in accordance with the decision of the constitutional court of the republic of indonesia number 18/puu-xvii/2019, the financing company needs approval from the debtor to take over the collateral, if not through a court decision. in practice, many finance companies can make a statement signed by the debtor, stating that the debtor is willing to hand over the vehicle or collateral, if there has been a default. the regulation regarding the fiduciary registration fee has been mentioned as the guarantee fee in regulation of financial services authority of the republic of indonesia number 35 of 2018. this is different from regulation of financial services authority of the republic of indonesia number 29 of 2014 which mentions the fiduciary registration fee. regulation of financial services authority of the republic of indonesia number 35 of 2018 states that the guarantee fee includes the fiduciary registration fee with additional note if required. according to ulum (2013), if a finance company has obtained the fee for fiduciary registration from customer, then the finance company must register it according to the underlying regulations. however, when it comes to the fiduciary registration fee for the financing company, the financing company must register with the related institution. sometimes financing companies do not explain in detail about the registration fee for fiduciary security. the financing company only mentions administrative costs. the violates regulation of financial services authority number 35 of 2018. registration fee for fiduciary security must be specified with an explanation, at least as the fiduciary guarantee fee. this explanation is important not to cause any legal uncertainty. on the contrary, if the financing company does not charge a fiduciary registration fee, the finance company does not have a fiduciary registration obligation. the obligation of fiduciary registration becomes an additional obligation on the financing company. if the financing company does not charge fees, it does not carry out fiduciary registration obligation. this could be a financing company's promotion strategy by granting fiduciary security fee registration exemptions. financing companies can carry out consumer financing without conducting fiduciary registration. however, finance companies are not allowed to execute collateral. does this multipurpose financing still meet the terms of an agreement? if it is based on agreement principles, the financing agreement remains binding on the parties. this financing agreement can be executed for guarantee execution or collateral takeover, must be through a court decision. this can be done if there is default. conversely, what if the debtor voluntarily hands over collateral? it will be difficult to distinguish between expropriation and voluntary surrender of collateral. takeover can be done by signing the minute of delivery of the vehicle or vice versa, the execution of the guarantee without a certificate of guarantee is also accompanied by an official report on the handover of the vehicle. in written evidence, the debtor has submitted the vehicle. based on the fiduciary guarantee law, repossessed of a vehicle that already has the defaulted fiduciary security registration can be made directly (ramadhanneswari et al., 2017). in addition, financing companies can take steps by using a working capital financing scenario or leasing financing. leasing does not have to go through fiduciary registration. however, leasing is the financing of production equipment. in fact, the micro, small, and medium enterprises (msme) sector experiences difficulties in distinguishing the differences in the means of production. a businessman who owns a small shop uses a vehicle for both business and family transportation. one of the differences in this respect is the taxation of 188 the winners, vol. 22 no. 2 september 2021, 183-189 lease payments. the financing industry and other financial institutions must determine strategies for lending. this strategy will determine the risk mitigation strategy. one way of mitigating risk is to be able to execute collateral to settle unpaid loans. in addition, financing business must have standard operating procedures in handling defaulted consumers. regulators need to coordinate the regulations for implementing this fiduciary guarantee. regulatory coordination must be able to achieve synchronization between government agencies. the regulations for implementing fiduciary security must socialize to the public. the drafting of executive regulations involves related professions, such as notaries and debt collection companies. iv. conclusions the fiduciary guarantee law provides legal certainty for businesses, especially for financial institutions in providing loans. the fiduciary guarantee law and its executive regulations create legal uncertainty for busineses. this has resulted in different interpretations among businesses, especially regarding the registration obligation for fiduciary security for defaulters, the obligation to register fiduciary security for collateral for movable property or good, and the process and requirements for executing fiduciary goods collateral. the fiduciary registration regulations aim to protect the interests of debtors and creditors. fiduciary registration will provide legal certainty, in the event of a dispute. it is suggested that relevant institutions synchronize all regulations for the implementation of fiduciary registration. therefore, the financial services authority (ojk), as the financial industry supervisor, needs to take initiatives regarding this matter. finally, the existing regulations must provide legal certainty for all parties, both debtors and creditors. references akhsin, h. m. & mashdurahatun, a. 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(2013). perlindungan hukum bagi kreditur pada perjanjian jaminan fidusia. jurnal independent, 1(1), 44-55. https://doi.org/10.30736/ji.v1i1.5. microsoft word 03_bagus sumargo_pendidikan bisnis.doc journal the winners, vol. 5 no. 2, september 2004: 108-113 108 pendidikan bisnis, bisnis pendidikan bagus sumargo1 abstract the implication of educations decentralization implies that colleges have authority to manage the whole education process. nevertheless, the education have to be conducted professionally. the colleges should determine one study program having business oriented. therefore, the education is driven into business purposes. keywords: education, education managements, business abstrak implikasi desentralisasi pendidikan adalah perguruan tinggi memiliki kewenangan mengatur pendidikan sepenuhnya. namun, pendidikan tetap harus mengutamakan profesionalisme. perguruan tinggi menentukan program pendidikan yang berorientasi bisnis. pada akhirnya, pendidikan dijadikan sebagai bisnis. kata kunci: pendidikan, manajemen pendidikan, bisnis 1 staf peneliti bps, jakarta & staf pengajar fmipa, ubinus, jakarta pendidikan bisnis, bisnis pendidikan (bagus sumargo) 109 pendahuluan kesulitan dalam mewujudkan fungsi dan peranan perguruan tinggi (pt) hanya dapat diatasi dengan tiga paradigma, yaitu kemandirian, akuntabilitas, dan jaminan kualitas yang lebih besar, demikian ungkap rektor institut agama islam negeri (iain) jakarta, prof. dr. azyumardi azra, m.a., dalam seminar nasional bertajuk “pengembangan program pascasarjana iain di indonesia: in memoriam prof. dr. harun nasution (1919-1998), jakarta 18 september 2000”. paradigma kemandirian menitikberatkan pada otonomi seluas-luasnya. paradigma kedua lebih mengacu pada pemanfaatan sumber keuangan (akuntabilitas) secara lebih bertanggungjawab. paradigma ketiga membutuhkan evaluasi internal secara terus menerus dan berkesinambungan, di samping evaluasi eksternal yang saat ini dilakukan oleh badan akreditasi nasional (ban) dan untuk tingkat dunia adalah iso. ketiga paradigma itu harus saling berkaitan, bahkan bersifat interdependensi dan ketiganya harus diaktualisasikan secara simultan. tantangan untuk ketiga paradigma tersebut, lebih berat dijalani oleh perguruan tinggi swasta (pts). terutama saat ini, pemerintah menentukan kebijakan desentralisasi pendidikan sehingga tuntutan yang paling mendasar adalah penyiapan sumber daya manusia (sdm) yang siap pakai dan berkemampuan “global”. salah satu lembaga pendidikan yang mempunyai peran dan tanggung jawab yang besar adalah pts. dengan kata lain, pts harus memiliki kiat dan strategi dalam pengelolaan pendidikan secara profesional sehingga pts dapat menjalankan ketiga paradigma yang dimaksud. di negara indonesia, “budaya” masyarakat masih menjunjung tinggi perguruan tinggi (pt). contoh, seorang ibu yang telah ditinggalkan suaminya untuk selamanya bekerja menjual gorengan pisang dan melarang anaknya membantu usaha dagangannya. ibu tersebut berjuang demi cita-cita mempunyai seorang anak sarjana. contoh lain, pada suatu departemen, si a (lulusan smu) yang mempunyai kinerja sangat memuaskan, tetap menjadi seorang staf sampai pensiun sedangkan si b yang bergelar dr. (konon gelar tersebut didapat dengan cara membeli dari sebuah universitas tidak terkenal di dalam negeri) mempunyai kedudukan yang baik daripada si a. jika dicermati maka pendidikan merupakan bisnis yang menguntungkan untuk dijalani sebagai ladang usaha. akan tetapi, bagi pengusaha dalam bidang pendidikan, juga harus hati-hati dalam memfokuskan jenis pendidikan yang paling menguntungkan dan berprospek untuk dikembangkan. tidak jarang lembaga pendidikan yang dijalani hanya berumur pendek karena bidang studi yang ditawarkan relatif sedikit peminatnya (mahasiswa). journal the winners, vol. 5 no. 2, september 2004: 108-113 110 pembahasan desentralisasi pendidikan desentralisasi pendidikan yang dijalankan seiring dengan pelaksanaan otonomi daerah merupakan bagian dari upaya memindahkan titik berat pendidikan nasional yang semula sentralistis menjadi berbasis pada masyarakat. di era otonomi, pendidikan harus tumbuh dari masyarakat dan ditumbuhkan sendiri oleh kekuatan masyarakat. pengelolaan pendidikan dalam kerangka otonomi daerah merupakan upaya untuk meningkatkan efisiensi dan efektifitas dalam mengimplementasikan kebijakan dan perencanaan program pendidikan. satu yang paling penting adalah mengenai kewenangan penuh, yaitu bila kewenangan daerah yang masih setengah-setengah (artinya pusat masih memberikan pedoman kebijakan pendidikan kepada daerah) maka akan sia-sialah segala sesuatu yang akan dipersiapkannya. keadaan itu memaksakan perlu adanya ahli pendidikan yang dapat berpikir mengenai landasan filosofis, proses pelaksanaan, mutu, organisasi, dan pengembangan pendidikan. selain itu, juga tenaga manajer pendidikan berkualitas yang selanjutnya distratakan dalam suatu unit lembaga pendidikan yang mempunyai komitmen memanusiakan manusia dan selalu berorientasi ke depan dan mempunyai manajemen mutu yang dapat dibanggakan. salah satu bentuk lembaga pendidikan yang dimaksud adalah pts. ada baiknya desentralisasi pendidikan lebih memberikan kewenangan pada otonomi sekolah sehingga pts lebih leluasa dan bebas dan bertanggung jawab dalam mengemban misi dan visi pts tersebut. hubungan pts dengan desentralisasi pendidikan adalah pts harus mampu membaca peta sumber daya alam (sda), kemampuan daerah, dan urgensinya akan kebutuhan sdm yang dapat membangun daerahnya secara efisien dan efektif. pendidikan “bisnis” anggaran pendidikan merupakan kendala yang paling utama dalam mempengaruhi berhasil tidaknya misi dan visi suatu pts. idealnya, secara nasional kebutuhan besaran anggaran pendidikan adalah sebesar 25 persen dari anggaran pendapatan dan belanja negara (apbn). akan tetapi, karena kondisi pemerintah sekarang yang tidak menentu, baik masalah ekonomi maupun politik, maka anggaran pendidikan relatif kecil, yaitu berkisar 5-6 persen dari apbn. hal itu menuntut pts harus mempunyai kiat tersendiri agar mereka dapat menjalankan komitmennya dalam bidang pendidikan dengan langgeng dan tetap dapat menghasilkan sdm indonesia yang berkualitas. pts harus mampu mencari sendiri sumber keuangan atau memaksa pts mengelola pendidikan yang bernuansa “bisnis”. maksud bernuansa “bisnis” disini adalah bidang studi yang banyak peminatnya, yaitu bidang studi yang dibutuhkan oleh pasar kerja atau mempunyai pretise tersendiri bagi lulusannya atau mempunyai harga jual yang tinggi (biasanya pekerja berdasi yang kuliah melalui jalur ekskutif program pascasarjana). pendidikan bisnis, bisnis pendidikan (bagus sumargo) 111 secara lisan, terlihat identitas kualitas bidang studi (yang diperbincangkan oleh masyarakat) pada suatu pt, yaitu popularitas suatu bidang studi, misalnya uiversitas indonesia terkenal dengan lulusan dari bidang studi “ekonomi dan kedokteran”, institut pertanian bogor dengan lulusan bidang studi “pertanian”, dan demikian juga untuk masing-masing pt lainnya. unggulan bidang studi bagi suatu pts penting artinya sebagai pretise pts itu sendiri dan merupakan produk atau komoditi unggulan yang bernuansa “bisnis” dengan tidak mengesampingkan mutu. umumnya, peminat pendidikan (mahasiswa) cenderung memilih bidang studi tertentu yang dapat memberikan pengharapan untuk menjadikan peluang “kaya”. artinya, bidang studi tersebut nantinya akan mempermudah mendapat pekerjaan dalam pasar kerja, bidang studi itu menjanjikan penghasilan yang tinggi. implikasinya adalah suatu bidang studi yang banyak peminatnya mempunyai nilai “bisnis”. secara sederhana, dapat diterangkan dengan silogisma, yaitu semakin banyak mahasiswa di suatu bidang studi maka akan memberikan dampak keuntungan bagi pengelola pendidikan. oleh karena itu, pengelola pendidikan dengan kondisi keuangan yang baik (diperoleh dari pungutan pendidikan dari mahasiswa) akan lebih tenang dalam mengemban misi dan visi pendidikan, khususnya dalam menghadapi era informasi. contoh, bidang studi yang bernuansa bisnis adalah agrobisnis, teknik informatika/industri, akuntansi, dan manajemen. akan tetapi, hal itu harus disesuaikan dengan kondisi di suatu wilayah. misalnya, di bali, wacana bidang studi yang bernuansa bisnis adalah bahasa asing dan pariwisata. pada akhirnya, dapat saja bidang studi yang benuansa bisnis tersebut dijadikan ciri atau mencirikan potensi pts tertentu. pendikan bisnis, bisnis pendidikan menurut hermawan k. (leading service officer, markplus & co), kata “bisnis” yang diletakkan pada kata “pendidikan”, memungkinkan untuk memiliki arti negatif, yaitu mendapatkan keuntungan sebesar-besarnya dengan meninggalkan mutu atau kualitas. kalau sudah begini jadinya, dapat jadi orang akan menilai bisnis sebagai dirtyword. padahal, sebenarnya suatu bisnis yang dijalankan dengan baik haruslan menghasilkan suatu kualitas. bahkan, dalam bisnis nonpendidikan pun, kualitas produk jasa harus dapat dipertanggungjawabkan. menurutnya, ada lima tingkatan “bisnis pendidikan”, yaitu transformation-business, product-business, service business, experience-business, dan commodity-business. harapan untuk bisnis pendidikan dapat berada di tingkat yang paling tinggi, yaitu bisnis transformasi sehingga harus benar-benar ada value yang terasa oleh peserta pendidikan (konsumen). kalau suatu program pendidikan dibuat tanpa kualitas sama sekali dan ijazahnya dijual murah maka bisnis pendidikan itu akan jatuh ke level paling bawah, yaitu commodity-business. pendidikan akan menjadi product-business, kalau programnya distandardisasikan tanpa melihat kebutuhan mahasiswa. apabila ada jasa yang memperhatikan kebutuhan mahasiswa, termasuk banyaknya pilihan kelas yang dapat dipilih maka bisnis pendidikan itu sudah naik ke tingkat service-business. artinya, journal the winners, vol. 5 no. 2, september 2004: 108-113 112 pendidikan itu bukan produk yang kaku lagi. akan tetapi, sudah cukup luwes dan fleksibel sebagaimana layaknya karakteristik suatu industri jasa. jika pendidikan sudah disampaikan dalam suatu situasi yang lebih dekat dengan praktik sehari-hari maka pendidikan dapat jadi suatu experience. caranya dapat bermacam-macam, termasuk pendidikan studi kasus, kerja lapangan, guest lecture dan sebagainya. skema kunci untuk menggambarkan pendidikan bisnis sebagai bisnis pendidikan adalah adanya keterkaitan yang sangat erat antara program pendidikan yang benuansa “bisnis” dengan kualitas. akan tetapi, sekali lagi yang perlu diingatkan adalah pentingnya penopang untuk menjalankan itu semua, yaitu “biaya”. oleh karena itu, pengelola suatu pts harus berusaha mencari peluang pengelolaan bisnis pendidikan yang lain, seperti wacana berikut ini. 1. pts dengan suatu basis bidang studi (menjadi ciri pts tersebut) untuk selalu mengupayakan melakukan kerja sama bisnis dengan pt lain yang memang telah mapan di bidang studi tersebut, yaitu sebagai strategic business unit (daughter institutions) atau kegiatan partner institutions yaitu semacam franchising. 2. menerapkan strategi pemasaran yang jitu, yaitu mengupayakan menangkap “pasar: kalangan tertentu”. misalnya, peserta pendidikan adalah warga negara keturunan (asing) dan pendapatan orang tua mahasiswa menengah ke atas. 3. menyediakan program pendidikan khusus yang sangat diperlukan oleh pelaku “bisnis”. seperti, pelatihan manajemen proyek, pelatihan komputer, sekretaris, bahasa, dan sejenisnya. 4. menyelenggarakan “dual-gelar” yang penyelenggaraannya bekerja sama dengan pt luar negeri. penutup beberapa simpulan yang dapat diungkapkan sebagai berikut. 1. untuk kelanggengan dan eksisnya dalam pengelolaan program pendidikan, pts tidak terlepas dari motto: “pendidikan itu adalah bisnis dengan tidak mengesampingkan mutu”. 2. iso penting untuk suatu pts, sebagai jaminan mutu program pendidikan suatu pts. 3. sebaiknya, penentuan suatu program pendidikan mengarah pada kebutuhan pasar yang berorientasi masa depan. pendidikan bisnis, bisnis pendidikan (bagus sumargo) 113 daftar pustaka hermawan k. 2000. “transformasi pendidikan.” kompas. 20 agustus 2000. jakarta. kismono, g. 2001. bisnis pengantar. yogyakarta: bpfe. wibisono, d. 2000. riset bisnis. yogyakarta: bpfe. william, c. 2001. manajemen. jakarta: penerbit salemba empat. *corresponding author p-issn: 1412-1212 e-issn: 2541-2388 155 the winners, 22(2), september 2021, 155-161 doi: 10.21512/tw.v22i2.7072 effect of debt default, disclosure, and financial distress on the receiving of going concern audit opinions ari tihar1*; indriani puspita sari2; bambang leo handoko3 1,2,3accounting department, faculty of economics and communication, bina nusantara university jl. k. h. syahdan no. 9, palmerah, jakarta 11480, indonesia 1aritihar06@gmail.com1; 2indrianipuspita28@gmail.com; 3bambang_lh@yahoo.co.id received: 18th february 2021/ revised: 07th april 2021/ accepted: 12th april 2021 how to cite: tihar, a., sari, i. p., & handoko, b. l. (2021). effect of debt default, disclosure, and financial distress on the receiving of going concern audit opinions. the winners, 22(2), 155-161. https://doi.org/10.21512/tw.v22i2.7072 abstract the research aimed to investigate the impact of debt default, disclosure, and financial distress on the acknowledgment of going concern audit opinion in manufacturing companies. the research applied a quantitative type of data complimented with secondary data retrieved from the official website of indonesia stock exchange. data obtained from purposive sampling method with 108 samples, consisting of 36 manufacturing companies listed on the indonesia stock exchange in 2016-2018. the research used a logistic regression as data analysis method with several statistical tests which included descriptive statistics, multicolinearity, fit test goodness, etc. the results show that only financial distress influences the acknowledgment of going concern audit opinion, while other independent variables such as debt default and disclosure do not affect the acceptance of going concern audit opinion. the research is limited since it only refers to the manufacturing industry sector. therefore, it is suggested that future research expand the scope by obtaining more firms’ sample from industrial sectors and using other independent variables to achieve a more accurate results. keywords: debt default, disclosure, financial distress, going concern audit opinion i. introduction each entity has a purpose in carrying out its activities, especially regarding the goal of going concerned. companies are considered significant for the world’s economy, which act as a provider of goods and services to society. companies are required to maintain the continuity of their business in order to avoid bankruptcy. one of the foremost vital things in maintaining the company's business continuity is by presenting information about its condition through financial reports made by management regularly as a form of accountability to shareholders and interested parties (stakeholders). financial reports are increasingly reliable, and fairness can be trusted if they have gone through the audit process. the role of the auditor, in this case, is as an independent body that provides audit services, which ultimately can provide an opinion on the financial statements of a company. besides, when the company’s financial condition is dubious, speculators anticipate evaluators to allow an early caution of its monetary disappointment. saputra and kustina (2018) argue that the going concern audit opinion of an entity is one thing that underlies investors in making investment decisions and creditors in lending funds to obtain profits from the activities. going concern opinion is an explanation given by the auditor, where there is a noteworthy vulnerability or failure regarding the company’s survival in the future (defond & zhang, 2014). to ascertain whether the company has a going concern, the auditor critically evaluates the planning carried out by management. in practice, going concern is a complicated matter so such factors are required as definite benchmarks to determine the company’s going concern status. in 2013 to 2018, pt bakrie sumatera plantations tbk (pt bsp) received a going concern opinion from kap y santosa and partners. the acceptance of a going concern opinion by pt bsp is due to losses that are repeatedly experienced from business activities, which causes the total short-term consolidated liabilities to exceed the total current assets of the consolidated. besides, in 2016 and 2017, pt bsp also experienced defaults based on specific loan agreements. in 2018, pt bsp has postponed the payment of specific loan principal and/or interest at maturity since the business group was restructuring its loans at that time. 156 the winners, vol. 22 no. 2 september 2021, 155-161 one of the aspects of assessing a company's viability is its failure to pay its debt obligations (debt default). according to standard on auditing (sa) 570 (2013), going concern assumption includes the company’s failure to pay off its commitments to lenders concurring to the due date, and the failure to comply with the terms of the credit ascension causing questions around a substance. chen and church (1992) define debt default as the failure of the debtor (company) to pay its principal and/or interest at maturity. the debt default status may increase auditors' possibility to give an early warning by issuing a going concern opinion. disclosure of information by management is an essential factor for auditors in providing going concern opinion. information regarding management's plans in overcoming company problems and resolutions will become the auditor's consideration before giving a going concern statement to the company. johnstone, gramling, and rittenberg (2016) explain that the auditor's report includes basic financial statements, including balance sheets, income statements, cash flow statements, shareholder equity changes, and related notes. if the auditor determines that the informative disclosure is inadequate, the auditor will identify the fact in the audit report. in assessing the disclosures of financial statements, the auditor has confidence that events and transactions have occurred, and are related to the entity. all disclosures should be stated as included: 1) users of financial statements can understand disclosures; 2) information is disclosed accurately and appropriately. the central aspect of predicting a company's viability is assessing its operating conditions, which are determined by the company's revenue. if there is a possible problem with the company's revenue, the prediction is that the company will not operate properly. companies that are not operating well may indicate to be experiencing financial distress. financial distress is a condition in which the company’s money related condition amid a particular period comes about in negative net benefit, and the company’s working cash stream is inadequate to progress. investors and creditors need to know their financial health condition when they want to make investment and credit decisions. besides, as outsiders, they must know the company's development to secure the investment that has been made. predictions of financial distress and bankruptcy can be analyzed from its financial statements by developing its financial ratio analysis (ritonga & putri, 2019). however, in indonesia, there are still few companies that realize the importance of this. most companies restructure their companies both internally and externally after the bankruptcy. not many company management has prevented the company from the risk of bankruptcy. this consider proposes to reconfirm the components that influence the acknowledgment of going-concern audit opinion due to inconsistencies in previous research results. in the research, the sample used is a manufacturing company as one of the critical sectors and the largest contributor to establish national economic growth. thus, the research objects are manufacturing companies listed on the indonesia stock exchange in 2016-2018. the research aims to: 1) determine the effect of going concern audit opinion acceptance of debt defaults in manufacturing companies; 2) determine the effect of disclosure on going concern audit opinion acceptance in manufacturing companies; and 3) identify financial distress's effect and acceptance of the audit opinion on going concerns in manufacturing companies. based on agency theory, the principal assesses the agent's performance using the auditor to determine the company's state. the first essential factor in measuring a company's financial health is examining company debt by an external auditor (saputra & kustina, 2018). more abundant company's debt will lead the company to an operating losses, which affects its ability to fulfill its principal and interest obligations (dewi & latrini, 2018). suppose the company fails to pay its debt (debt default), in that case, the company's sustainability will be doubted. the possibility of giving a going concern audit opinion will be even more significant, and investment by outsiders will decrease (harris & merianto, 2015). based on the description, the following hypothesis can be formulated: h1: debt default has a positive and significant effect of ongoing concern audit opinion acceptance. based on agency theory in jensen and meckling (1976), the relationship between principals and agents leads to unbalanced information conditions since agents have more information about the company than principals. harris and merianto (2015) state that one of the principal's efforts to find out information is by having an auditor as a third party to disclose the company. any accounting information in financial statements is often used as a basis for consideration by certain parties involved in the contract. the company's broader disclosure will provide additional evidence to the auditor to ensure that the company experiences survival problems to consider issuing a going concern audit opinion (verdiana & utama, 2013). based on this portrayal, the hypothesis can be defined: h2: disclosure has a positive and significant effect of ongoing concern audit opinion acceptance. agency theory makes the auditor an independent third party in assessing management strategies to overcome financial distress (jensen & merkling, 1976). altman (1968) has conducted a research to find a prediction model for bankruptcy in the period before bankruptcy occurs. the prediction model used is based on the company's financial distress. financial distress conditions indicate that the company is dealing with financial problems. if the z-score is low, it is more likely that the company will receive a going concern audit opinion. on the contrary, if the z-score is high or the company's financial condition is getting better, the 157effect of debt default.... (ari tihar, et al.) auditor will less likely to issue a going concern audit opinion. based on this description, the hypothesis can be formulated: h3: financial distress has a negative and significant effect of ongoing concern audit opinion acceptance. ii. methods the research takes a population of manufacturing firms listed on the indonesia stock exchange (idx) for the 2016-2018 period that publish audited financial reports. the type of data is quantitative with secondary data sources obtained from the indonesia stock exchange's official website. the research sample uses a purposive sampling by determining five criteria, namely: 1) a manufacturing firm listed on the indonesia stock exchange (idx) and publishes complete audited financial reports during the observation period, i.e., 2016-2018; 2) excluding newly listed companies (ipo) on the indonesia stock exchange during the observation period, i.e., 2016-2018; 3) manufacturing firms that were not out (delisted) from the idx during the observation period, i.e., 2016-2018; 4) manufacturing firms that present their financial statements using the rupiah exchange rate indonesian rupiah (rp); 5) manufacturing firms that experience negative current year net income for at least one period during the 2016-2018 observation year. data analysis uses a logistic regression. this method is used since going concern audit opinion as the dependent variable is dichotomous. some of the statistical tests used are descriptive statistics, multicollinearity, fit test goodness, overall model fit, classification matrix, coefficient of determination, and hypothesis using logistic regression. testing in the research is carried out using spss version 26. iii. results and discussions the population is manufacturing firms listed on the indonesia stock exchange in 2016-2018. due to the period of that year, there were many cases of giving going concern opinion on the company's financial statements. the test choice handle based on foreordained criteria is displayed in table 1. descriptive statistical analysis provides an outline or portrayal of information appeared within the mean, standar deviation, maximum, and minimum value of each variable (sugiyono, 2019). based on the descriptive-analytical test, it can be stated that the variable going concern audit opinion is measured based on the dummy variable. of the 108 samples tested, the minimum value generated is 0, which explains the firms that receive non-going concern audit opinion. the maximum value is 1, which describes the companies that receive going concern audit opinion. the resulting average value for going-concern audit opinion acceptance is 0,19, and a standard deviation is 0,390. next, the debt default variable is measured by a dummy variable, table 1 sample selection (purposive sampling) criteria total a manufacturing firm listed on the indonesia stock exchange (idx) and publishes complete audited financial reports amid the perception period, i.e., 2016-2018 168 newly listed companies (ipo) on the indonesia stock exchange amid the perception period, i.e., 2016-2018 25 manufacturing firms that were not out (delisted) from the idx amid the perception period, i.e., 2016-2018 0 manufacturing firms that present their financial statements using the rupiah exchange rate (rp) (30) manufacturing firms that experience negative current year net income for at least one period amid the 2016-2018 the perception year 36 source: researcher table 2 descriptive statistics test results n min. max. mean std. dev gco 108 0 1 0,19 0,390 dd 108 0 1 0,42 0,495 dis 108 0,9 1,0 0,997 0,0165 fd 108 -10,65 185,67 45,44 2.269,160 note. gco: going concern opinion; dd: debt default; dis: disclosure; fd: financial distress source: output spss 26.0 158 the winners, vol. 22 no. 2 september 2021, 155-161 categorized based on the current ratio. the minimum value of the 108 samples tested is 0. it means that the firm has no problem fulfilling its obligations. it is not categorized as a default status. it has a maximum value of 1, which means that the company may have problems fulfilling its obligations to be categorized in default. this variable has an average value of 0,42, which means that 42% of the 108 samples, namely 45 samples, are categorized as default, while the other 63 samples are not categorized as default status. the resulting standard deviation is 0,495. disclosure variables are measured using the scoring method with the disclosure index determined by the otoritas jasa keuangan/ojk (financial services authority of indonesia). the company that had the least disclosure was sunson textile manufacturer tbk in 2016-2018, with information disclosure of 90%. the disclosure variable that has been studied has an average of 0,997 out of 108 samples. it indicates that 99,7% of the samples have disclosed the information determined by the ojk. the resulting standard deviation value is 0,0165. finally, the financial distress variable is measured using the altman revised z-score ratio. of the 108 samples tested, the minimum value produced is -10,65, tiga pilar sejahtera food tbk's value in 2017. the maximum value is 185,67, which is the value of inti agri resources tbk in 2017. financial distress has an average value of 4,5444, which means that the average sample is in a safe area with a standard deviation value of 22,69160. the multicollinearity test is conducted to detect any correlation between the independent variables in the regression model. expressed free of multicollinearity refers to the tolerance value and variance inflation factor (vif). a tolerance value ≤ of 0,10 and vif ≥ 10 show that there is an indication of multicollinearity. a tolerance value ≥ of 0,10 and vif ≤ 10 represent no indication of multicollinearity. table 3 multicollinearity test model collinearity statistics tolerance vif 1 debt default 0,963 1,039 disclosure 0,979 1,022 financial distress 0,983 1,018 source: output spss 26.0 based on table 3, each independent variable has a tolerance value ≤ 0,10, debt default of 0,963, disclosure of 0,979, and financial distress of 0,983. the test results show that the three independent variables are not correlated, so there is no multicollinearity in the regression model. furthermore, relating to the vif value, the three independent variables are debt default of 1,039, disclosure of 1,022, and financial distress of 1,018. the three independent variables have a vif value of less than 10. test results indicate that the three independent variables are not correlated, so there is no multicollinearity in the regression model. the regression model's feasibility is assessed using the hosmer and lemeshow's test to examine that the empirical data matched the model to be declared fit. the null hypothesis (h0) is rejected if the hosmer and lemeshow's test's significance level is equal to or less than 0,05, which means a significant difference between the regression model and its observation value. the null hypothesis (h0) is accepted on the antithesis if the hosmer and lemeshow's test's significance level is more significant than 0,05, meaning that the regression model can predict its observation value well. table 4 goodness of regression model hosmer and lemeshow test step 1 chi-square df sig 7,083 8 0,528 source: output spss 26.0 table 4 results from the regression model's feasibility test using the hosmer and lemeshow's test table. it can be seen that the calculated chi-square value is 7,083, with a significance value of 0,528. compared to the significance level of the model's feasibility test, 0,528 is more significant than α (0,05). from the results of these comparisons, it can be concluded that h0 is accepted, which means that the regression model is fit and can be interpreted. overall model fit is done by comparing the value between -2 log-likelihood (-2ll) at the beginning (block number = 0) with the -2 loglikelihood (-2ll) value at the end (block number = 1). if there is a decrease in -2 log-likelihood or the -2 log likelihood value (block number = 0) is more significant than -2 log-likelihood (block number = 1), it means the whole model shows a good fit. table 5 comparison of -2 log-likelihood (block number = 0) and -2 log-likelihood (block number = 1) -2 log-likelihood block 0 103.500 block 1 60.573 source: output spss 26.0 table 5 compares the -2 log-likelihood value (block number = 0) with the -2 log-likelihood value (block number = 1). table 5 shows that the regression model, which initially had a value of -2 log-likelihood 159effect of debt default.... (ari tihar, et al.) 103,500 decreases by 42,927 after inputting three independent variables to 60,573. the test aims to test whether the hypothesized model is suitable or fit with the data or not. in the research, the decline in value that occurs shows that the fit model gets better after adding the model's independent variables. the determination coefficient test aims to determine how much the combination of the independent variables, i.e., debt default, disclosure, and financial distress, can explain the dependent variable are going concern audit opinion. table 6 the coefficient of determination model summary step -2 log likelihood cox & snell r squared nagelkerke r squared 1 60,573a 0,328 0,532 note. a: estimation terminated at iteration number source: output spss 26.0 table 6 shows that the -2 log-likelihood model test results in 60,573 of the coefficient of determination seen from the nagelkerke r squared of 0,532 (53,2%) and the cox & snell r squared value of 0,328 (32,8%). it means that the independent variable debt default, disclosure, and financial distress can explain the dependent variable's variation going concern audit opinion by 53,2%. in comparison, other factors explain 46,8% of the dependent variable's variability outside of this research. table 7 classification matrix test results predicted gco % correct ngco gco step 1 gco ngco 86 2 97,7 gco 11 9 45,0 overall percentage 88,0 noted. gco: going concern opinion; ngco: non going concern opinion source: output spss 26.0 the classification matrix test aims to analyze the logistic regression model's accuracy in predicting the acceptance of going-concern audit opinion. table 7 shows that the logistic regression model can predict 97,7% as a firm that does not receive a going concern audit opinion. meanwhile, the nine sample data firms that receive going concern audit opinion state that the logistic regression model could predict 45% as firms that received going concern audit opinion. overall, the regression model's predictive power can predict the probability of going concern audit opinion acceptance of 88%. the logistic regression test method is used to test the regression coefficient. table 8 presents an overview of the logistic regression results. table 8 testing using logistic regression b sig. step 1 debt default 0,269 0,718 disclosure 147,823 0,999 financial distress -1,202 0,000 constant -148,931 0,999 source: output spss 26.0 the test outcomes on the regression coefficient produce the following logistic equation: ogc = -148,931 + 0,269 dd + 147,823 d – 1,202 fd (1) hypothesis testing is done using logistic regression to examine the correlation between the dependent variable, going concern audit opinion with the independent variables, i.e., debt default, disclosure, and financial distress. this test compares the value of the significance level of the logistic regression test results with the error rate (α) = 5%. suppose the significant result is smaller than the error rate (sig <α), then h0 is rejected since this variable is considered to have a significant effect (ha accepted). conversely, suppose the significant result is greater than the error rate (sig> α), in that case, h0 is accepted because it can be concluded that the variable does not have a significant effect (ha is rejected). based on table 8, each independent variable can be interpreted as affecting the acceptance of going-concern audit opinion. a constant of -148,931 means that if the independent variable's coefficient is ignored, the probability of a company receiving a going concern audit opinion will decrease by 148,931. the debt default variable shows a positive direction of 0,269. however, since the significance value of the debt default variable is 0,718 and above 0,05 (5%), it can be concluded that the debt default variable does not affect going concern audit opinion acceptance. therefore, the h1 hypothesis is rejected. disclosure variable shows a positive direction of 147,823. however, since the significance value of the disclosure variable is 0,999 and above 0,05 (5%), it can be concluded that the disclosure variable does not affect going concern audit opinion acceptance. therefore, the h2 hypothesis is rejected. the financial distress variable shows a negative direction of 1,202, with a significance value of the financial distress variable is 0,000, below 0,05 (5%). 160 the winners, vol. 22 no. 2 september 2021, 155-161 it can be concluded that the financial distress variable affects the acceptance of going concern audit opinion. thus, the hypothesis h3 in the research is accepted. debt default is a condition of a firm that fails to pay its principal debt and/or interest at maturity. in the research, debt default is proxied using dummy variables, categorized based on the value of the firm's current ratio. based on the results of hypothesis testing in table 8, it is known that the debt default variable shows a positive direction of 0,269 with a significance value of more than 0,05, namely 0,718. it can be concluded that this independent variable does not significantly affect going concern audit opinion acceptance, but has a positive influence on audit opinion acceptance. these results indicate that a firm with a debt default status or has failed to pay its maturing obligations and interest can increase the risk of doubts about business continuity and acceptance of going concern audit opinion. the research results contradict research conducted by harris and merianto (2015), dewi and latrini (2018), and read and yezegel (2018). however, it is in line with ritonga and putri's research (2019) which affirms that debt default negatively affects going concern audit opinion acceptance. when reviewing samples from 2016-2018 pt jakarta kyoei steel works tbk and 2017 and 2018 pt langgeng makmur industri tbk, the two samples have a current ratio value of ≥ 1. it is indicated that they do not experience debt default, but still receive an audit opinion going concerned. the research results do not prove that the debt default variable significantly affects accepting a going-concern audit opinion. researchers argue that auditors providing a going concern audit opinion are not only based on debt defaults, but are more likely to see the company's ability to pay its general obligations. disclosure is the explanation on the acceptance of information by the company. disclosure is measured using the scoring method with the annual report item disclosure index that the ojk has regulated. based on the logistic regression testing results, the disclosure variable got a significance level of 0,999 and a coefficient of 147,823, which illustrates that disclosure does not significantly affect going concern audit opinion, but has a positive effect on the going concern audit opinion acceptance. the research results do not support research conducted by harris and merianto (2015), achyarsyah (2016), saputra and kustina (2018), and jamaluddin (2018). however, it supports yaqin and sari (2015) research, which states that disclosure does not affect the acceptance of going concern audit opinion, but has a negative effect on going concern audit opinion acceptance. the research explains how much disclosure will not make the company avoid giving going concern audit opinion. excessive disclosure creates a wrong impression as the level of disclosure is too large. the research has a disclosure average of 99,7%, which describes the company's compliance in disclosing information. when viewed from the sample in 2016-2018, pt sunson textile manufacturer tbk has the lowest disclosure level, but does not accept going concern audit opinion. meanwhile, companies that receives a going concern audit opinion included: 1) pt tiga pilar sejahtera food tbk, 2) pt central proteina prima tbk, 3) pt panasia indo resources tbk, 4) pt intikeramik alamsari industri tbk, 5) pt jakarta kyoei steel works tbk, 6) pt kertas basuki rachmat indonesia tbk, 7) pt langgeng makmur industri tbk, and 8) pt asia pacific investama tbk, have an adequate level of disclosure. so that in this study, the disclosure variable does not have a significant effect on the acceptance of going-concern audit opinion. financial distress is an indication of a company's bankruptcy. in explaining the level of distress, this study uses the altman revised z-score model. based on the results, hypothesis 3 declares that the financial distress variable affects the going concern audit opinion acceptance. based on the results of hypothesis testing (see table 8), it is known that the financial distress variable has a significance value of 0,000 which is lower than α and the variable coefficient value is -1,202. the regression results can be concluded that the financial distress variable has a significant negative effect on ongoing concern audit opinion acceptance. this negative effect means that the relationship between the z-score value and the acceptance of going concern audit opinion is inversely proportional. the smaller the z-score of the firm, the more likely the firm will be concerned about audit opinion and vice versa. the research results are not in line with the research conducted by listantri and mudjiyanti (2016). however, the research is consistent with achyarsyah (2016), saputra and kustina (2018), dewi and latrini (2018), jamaluddin (2018), read and yezegel (2018), and ritonga and putri (2019) which state that that the financial distress variable has a negative and significant effect ongoing concern audit opinion acceptance. ritonga and putri (2019) state that a good firm condition indicates that the firm can continue its business in the future, so it is unlikely that the auditor will give a going concern audit opinion. on the other hand, a company whose financial condition is terrible indicates that the company is experiencing uncertainty in running its business in the future. it is more likely that the auditor will give a going concern audit opinion. one of the variables reviewed from the sample, namely in 2017 pt tiga pilar sejahtera food tbk has the lowest z-score value, namely -10,65. it is categorized into distress areas and received going concern audit opinion. meanwhile, in 2017 pt inti agri resources tbk has the highest z-score, which is 185,67, so it could be categorized into safe areas which do not accept going concern audit opinion. agency theory assumes that humans prioritize personal interests (self-interest). this causes agents not always to act according to the principals' wishes, so 161effect of debt default.... (ari tihar, et al.) it may increase agency conflicts (jensen & merkling, 1976). agency conflicts that occur between agents and principals can be reduced by the presence of a third party, which is an independent auditor. auditors can bridge the interests of agents and principals, especially in evaluating client business risks and assessing the feasibility of management strategies in overcoming financial distress, so this can reduce the acceptance of going concern audit opinion. iv. conclusions it can be concluded that the debt default and disclosure variables do not have a significant effect on ongoing concern audit opinion acceptance with a positive coefficient value. the financial distress variable has a significant negative effect on the ongoing concern audit opinion acceptance. several implication can be concluded for investors to consider more about accepting going concern audit opinion from the auditor to the firm in making investment decisions. for business management, it is expected that they recognize signs of business bankruptcy early to immediately take policies to solve the problem and avoid receiving a going concern audit opinion. for the auditors, it is hoped that they will be able to develop further consideration of conditions that may affect the company's business continuity, both financial and nonfinancial conditions. the limitation of the research only refers to the manufacturing industry sector. future research is expected to expand the research scope by increasing firms' sample from several industrial sectors, extending the research period, and using other independent variables such as non-financial ratios and other financial ratios. therefore, research results are more accurate to continue growing. references achyarsyah, p. (2016). the analysis of the influence of financial distress, debt default, company size, and leverage ongoing concern opinion. international journal of applied business and economic research, 14(10), 6767-6782. http://repository.unas.ac.id/id/ eprint/62. altman, e. i. (1968). financial ratios, discriminant analysis and the prediction of corporate bankruptcy. the journal of finance, 23(4), 589-609. https://doi. org/10.2307/2978933. chen, k. c. & church, b. k. (1992). default on debt obligation and the issuance of going-concern report. auditing: a journal of practice and theory, 11(2), 30-49. defond, m. & zhang, j. (2014). a review of archival auditing research. journal of accounting & economics, 58(2), 275-326. https://doi. org/10.1016/j.jacceco.2014.09.002. dewi, d. a. n. s. & latrini, m. y. (2018). pengaruh financial distress dan debt default pada opini audit going concern. e-jurnal akuntansi, 22(2), 12231252. https://doi.org/10.24843/eja.2018.v22.i02. p15. harris, r. & merianto, w. (2015). pengaruh debt default, disclosure, opini audit tahun sebelumnya, ukuran perusahaan, dan opinion shopping terhadap penerimaan opini audit going concern, diponegoro journal of accounting, 4(4), 298-308. jamaluddin, m. (2018). the effect of financial distress and disclosure on going concern opinion of the banking company listing in indonesian stock exchange. international journal of scientific research and management, 6(1), 64-70. https://doi.org/10.18535/ ijsrm/v6i1.em10. jensen, m. c and meckling, w. h. (1976). theory of the firm: managerial behavior, agency costs and ownership structure. journal of financial economics, 3(4), 305-360. https://doi.org/10.1016/0304405x(76)90026-x. johnstone, k. m., gramling, a. a., & rittenberg, l. e. (2016). auditing: a risk-based approach to conducting a quality audit (10th ed.). boston: cengage learning. listantri, f. & mudjiyanti, r. (2016). analisis pengaruh financial distress, ukuran perusahaan, solvabilitas, dan profitabilitas terhadap penerimaan opini audit going concern. jurnal manajemen dan bisnis media ekonomi, 16(1), 163-175. read, w. j. & yezegel, a. (2018). advances in accounting going-concern opinion decisions on bankrupt clients: evidence of long-lasting auditor conservatism ? advances in accounting, 40, 20-26. https://doi. org/10.1016/j.adiac.2017.12.004. ritonga, f. & putri, d. f. s. (2019). debt default dan financial distress sebagai determinan penerimaan opini audit going concern. jurnal sains manajemen & akuntansi, 11(1), 1-32. https://doi.org/10.37151/ jsma.v11i1.22. saputra, e. & kustina, k. t. (2018). analisis pengaruh financial distress, debt default, kualitas auditor, auditor client tenure, opinion shopping dan disclosure, terhadap penerimaan opini audit going concern pada perusahaan manufaktur yang terdaftar di bursa efek indonesia. krisna: kumpulan riset akuntansi, 10(1), 1-10. https://doi.org/10.22225/ kr.10.1.%25y.51-62. standard on auditing (sa) 570 (revised), going concern. (2013). http://kb.icai.org/pdfs/ pdffile5b3b56f75d65b6.04883715.pdf sugiyono. (2019). statistika untuk penelitian. bandung: alfabeta. verdiana, k. a. & utama, i. m. k. (2013). pengaruh reputasi auditor, disclosure, audit client tenure pada kemungkinan pengungkapan opini audit going concern. e-jurnal akuntansi, 5(3), 530-543. yaqin, m. a. & sari, m. m. r. (2015). pengaruh faktor keuangan dan non keuangan pada opini audit going concern. e-jurnal akuntansi, 11(2), 500-514. microsoft word 01_ choirul anwar_setting.doc risk based internal auditing.....(choirul anwar) 89 risk based internal auditing dan implementasinya pada pt ibf choirul anwar president university, jababeka education park, jln. ki hajar dewantara, kota jababeka, bekasi, 17550 anwar_choirul@yahoo.com abstract risks deal with uncertainties. the bigger the uncertainties faced by firms, the larger opportunity and impact of the risks in future. whether firms succeed in managing risks it depends a lot on the effectivity of internal control. pt indonesia buffon film (pt ibf) is one of many firms trying to optimalize its internal audit department.the main problem in this company is managing the company to survive with accumulated losses over 90% of share capital in the period of 2007 to 2008. this research aims to describe the relationship between internal control and purpose of internal audit department of pt ibf. the main focus is the management crisis happening due to weak leadership within the company. this in turn weakens internal control. management is suggested to prioritize risks that contribute to the main risk, especially internal factors that can be controlled by management. pt ibf has deployed an implementation of the australian/new zealand standard in risk management (az/nzs 4360) that helps the main purpose of the risk based internal auditing. overall, pt ibf has done well to recognize that there are possible risks in their business operations. however, there are also gaps that must be analyzed and followed up further by management. keywords: internal control, risk based internal audit, pt ibf abstrak risiko berurusan dengan ketidakpastian. semakin besar ketidakpastian yang dihadapi oleh perusahaan, akan semakin besar kesempatan dan dampak risiko yang ada di masa mendatang. efektivitas pengendalian internal sangat mempengaruhi keberhasilan perusahaan dalam mengelola risiko. pt indonesia buffon film (pt ibf) adalah salah satu dari banyak perusahaan mencoba untuk mengoptimalkan bagian audit internal. masalah utama dalam perusahaan ini adalah mengelola perusahaan untuk bertahan dengan akumulasi kerugian lebih dari 90% dari modal saham pada periode 2007 hingga 2008. penelitian ini bertujuan untuk menggambarkan hubungan antara pengendalian internal dan tujuan bagian audit internal pt ibf. fokus utama adalah krisis manajemen yang sedang terjadi akibat lemahnya leadership dalam perusahaan sehingga berakibat pada lemahnya internal control. dalam tahap ini, manajemen diarahkan untuk memberikan prioritas utama yang berkontribusi terhadap risiko utama, terutama faktor internal yang dapat dikendalikan manajemen. pt ibf telah menerapakan pelaksanaan the australian/new zealand standard in risk management (az/nzs 4360) yang membantu tujuan utama dari risk based internal auditing. secara keseluruhan, pt ibf telah berhasil dengan baik mengenali kemungkinan risiko yang ada di dalam operasi usahanya. namun, masih ada juga celah-celah kelemahan yang harus dianalisis dan ditindaklanjuti oleh manajemen. kata kunci: pengendalian internal, audit internal berbasis risiko, pt ibf 90 journal the winners, vol. 10 no. 2, september 2009: 89-99 pendahuluan sesuai dengan eksternal auditor, internal auditor report atau opini internal auditor sangat diperlukan untuk mengevaluasi kinerja internal control perusahaan. namun, sayangnya banyak persepsi yang timbul sekarang bahwa internal audit hanya berhubungan atau ditujukan untuk mengawasi kegiatan keuangan atau financial control saja. manajemen perusahaan juga banyak menyimpulkan bahwa kontrol merupakan tanggung jawab dari akuntan perusahaan dan eksternal auditor semata sehingga menyebabkan para manajer non financial dan accounting merasa tidak memiliki atas pengendalian internal tersebut. padahal para manajer non financial dan accounting tersebut mampu mengetahui secara langsung risiko-risiko yang ada dan mengarah kepada tanggung jawabnya sebagai komponen pimpinan perusahaan. penelitian ini menggambarkan pengkajian studi kasus tentang praktik penerapan manajemen risiko di pt indonesia buffon film (ibf) dan kaitannya dengan proses audit berbasis risiko (riskbased audit). manajemen perusahaan sebenarnya sudah mengerti akan permasalahan, namun belum bisa untuk mengorganisasikan dengan baik permasalahan dan pemecahan persoalan yang ada. dengan adanya penugasan pengkajian enterprise risk management dan kaitannya dengan risk-based audit ini sangatlah membantu penulis dalam proses belajar dan sekaligus implementasi di lapangan secara langsung. permasalahan utama yang ada di perusahaan ini adalah bagaimana caranya perusahaan bisa survive di masa yang akan datang, dengan akumulasi kerugian yang sudah melebihi 90% dari setoran modal perusahaan (share capital) di tahun 2007-2008. permasalahan ini dalam penerapan enterprise risk management, penulis golongkan dalam risk identification yang utama. dengan kata lain, bukan berarti tidak ada lagi risiko-risiko lain yang bisa diidentifikasikan. namun, berangkat dari identifikasi risiko yang utama inilah penulis diarahkan management perusahaan untuk mengkaji risiko-risiko yang berkontribusi terhadap risiko utama. tujuan dari penelitian ini adalah untuk membantu pembaca memahami fungsi dan peran internal control dalam suatu perusahaan, dalam hal ini di pt ibf serta memahami peran internal audit dalam menentukan ukuran keakuratan internal control dalam melaksanakan tugasnya me-manage perusahaan untuk mencapai tujuan yang sudah ditentukan sebelumnya. manfaat umum dari penelitian ini adalah hasil penelitian ini dapat dipergunakan oleh pembaca sebagai bahan informasi maupun pertimbangan dalam mengatasi permasalahan yang timbul untuk pengambilan keputusan, baik masa sekarang maupun akan datang. sedangkan manfaat khusus tulisan ini adalah untuk memberikan kesempatan kepada penulis untuk mengetahui masalah-masalah yang sebenarnya dihadapi oleh pt ibf dalam menentukan pos-pos yang krusial dan penentuan risiko yang harus dihadapi oleh internal control sehingga risiko tersebut dapat di-manage dengan baik, berkat bantuan dari hasil pemeriksaan internal auditor atas efektifitas internal control tersebut. dengan demikian, internal audit bertugas membantu internal control perusahaan yang dilakukan oleh board of director, manajemen, dan personel lainnya yang didesain untuk memberikan keyakinan memadai atas pencapaian objektif dalam beberapa kategori sebagai berikut (1) kehandalan dan kecermatan dari laporan keuangan; (2) sesuai dengan hukum dan aturan (regulasi) yang berlaku; (3) efisien, efektif, dan ekonomisnya operasi organisasi atau perusahaan. untuk memenuhi berbagai pengawasan yang berhubungan dengan tujuan (objective) perusahaan, coso mendidentifikasi komponent internal control yang terdiri dari (1) control environment, yang menentukan irama organisasi, yang berhubungan dengan kontrol terhadap orang (people). hal ini merupakan fondasi untuk semua komponen internal control yang menyajikan risk based internal auditing.....(choirul anwar) 91 kedisiplinan dan struktur dalam internal control; (2) risk assessment adalah identifikasi dari organisasi dan analisis relevansi dari risiko untuk mencapai objektifnya serta menentukan bagaimana risiko-risiko yang ada seharusnya dikelola secara baik; (3) control activities adalah prosedur dan kebijakan yang membantu untuk meyakinkan manajemen dalam mengarahkan perusahaan dalam pencapaian tujuannya; (4) information and communication yang merupakan identifikasi, pencapaian, dan pertukaran informasi dalam ruang lingkup dan waktu yang memperbolehkan orang (people) untuk menjalankan tanggung jawabnya; (5) monitoring adalah proses yang menilai kualitas internal control performance dalam kurun waktu tertentu. faktor-faktor yang berkontribusi terhadap perkembangan internal audit adalah (1) ukuran dari bisnis menjadi semakin kompleks dan menyebar secara meluas yang mengharuskan manajemen menggantungkan pada berbagai laporan dan analisis untuk mengontrol operasi perusahaan secara efisien; (2) pengecekan dan review yang tidak dapat dipisahkan (inherent) dalam sistem yang baik dari internal audit serta melindungi terhadap kelemahan manusia dan mengurangi kemungkinan kesalahan atau ketidaknormalan yang akan terjadi; (3) suatu yang tidak lazim bagi auditor untuk mengaudit perusahaan yang dibatasi ekonomi tanpa adanya bantuan dari internal audit suatu klien. lebih lanjut perlu diuraikan pengertian dan peran internal audit dalam organisasi atau perusahaan. sesuai definisi yang dikeluarkan oleh international auditing auditors (iia), internal auditing adalah sebuah aktivitas independent, keyakinan yang objektif, dan aktivitas konsultasi yang didesain untuk menambah dan memperbaiki operasi sebuah organisasi. yang dimaksud dengan risiko dipandang dari hasil keluaran adalah sebuah hasil atau keluaran yang tidak dapat diprediksikan dengan pasti, yang tidak disukai karena akan menjadi kontra produktif. sedangkan risiko dipandang dari segi proses adalah faktor-faktor yang dapat mempengaruhi pencapaian tujuan sehingga terjadinya konsekuensi yang tidak diinginkan. risiko dalam sudut pandang proses operasional perusahaan seringkali disebut dengan faktor risiko. pada intinya, kedua sudut pandang yaitu dari segi hasil keluaran dan proses, faktor risiko saling melengkapi satu sama lain. perbedaan di antara keduanya hanya sekedar perspektif dan posisi pengguna maupun penganalisis. secara umum, komponen risiko adalah sebagai berikut. pertama, risiko inherent yaitu risiko yang secara intrinsik lahir karena terjadinya suatu aktivitas dan melekat pada aktivitas itu sendiri. sebagai contoh adalah suatu perusahaan meluncurkan produk baru. perusahaan ini akan menghadapi risiko bahwa produk barunya tersebut tidak akan diterima di pasar. contoh lainnya adalah jika perusahaan menjual produknya dengan cara kredit, maka hal ini mempunyai risiko kegagalan kredit prlanggan. kedua, risiko terkendali yaitu bagian dari risiko inherent yang dapat dikendalikan melalui aplikasi atau aktivitas pengendalian tertentu. risiko ini merujuk kepada tindakan perusahaan untuk mengurangi cakupan risiko inherent melalui suatu aplikasi kendali risiko. sebagai contoh, untuk mengurangi cakupan risiko peluncuran produk baru, sebuah perusahaan dapat melakukan riset pasar sebelum launching produk barunya tersebut, atau melakukan pilot project di pasar tertentu sebelum peluncuran produk secara nasional. untuk mengurangi cakupan kegagalan kredit pelanggan, sebuah perusahaan dapat mengenakan kriteria yang lebih ketat seperti jaminan bank atau pembayaran sebagian di muka sebelum mengirimkan barang kepada pelanggan. dalam kehidupan sehari-hari, kita tidak dapat menghentikan hujan, tetapi dapat membawa payung atau jas hujan agar tidak kebasahan. ketiga, risiko residual yaitu tingkat atau besaran risiko yang tetap melekat pada suatu aktivitas tertentu walaupun aplikasi pengendalian sudah diterapkan. sebagai contoh, bagaimanapun baiknya riset pasar dilakukan, kegagalan dari peluncuran produk baru di pasaran tertentu selalu mungkin terjadi. mengenakan kriteria yang lebih ketat bagi pelanggan perusahaan masih belum menghilangkan kemungkinan kegagalan kredit. hal yang sama dengan kehidupan kita sehari-hari, menggunakan payung selama hujan tidak akan menjamin 100% bahwa kita tidak akan kebasahan. risiko adalah kondisi yang melibatkan keterpaparan terhadap pencapaian tujuan entitas perusahaan, baik yang bersifat secara langsung maupun tidak langsung, yang merupakan hasil dari 92 journal the winners, vol. 10 no. 2, september 2009: 89-99 sebuah kombinasi antara kemungkinan terjadinya sebuah peristiwa dan besaran dari konsekuensinya. bagi entitas komersial atau bisnis, istilah risiko sering digunakan bergantian dengan istilah risiko bisnis atau risiko korporat. cakupan risiko bisnis sangat luas dapat timbul dari kisaran berbagai sumber, sebagai contohnya yang ada di dunia bisnis adalah (1) risiko strategik adalah risiko terjadinya kegagalan mengantisipasi dan mengeksekusi inisiatif strategik perusahaan, (2) risiko pasar adalah perubahan dalam nilai daktiva pasar perusahaan yang dapat diperdagangkan, (3) risiko finansial adalah risiko kegagalan kendali keuangan, (4) risiko operasional adalah risiko dari tindakan manusia, (5) risiko komersial adalah risiko gangguan bisnis yang dapat timbul dari hilangnya personil penting, kegagalan pemasok, masalah hukum dan kepatuhan, (6) risiko teknis adalah risiko kegagalan aset fisik, sebagai contoh adalah kegagalan peralatan, kerusakan infrastruktur, dan sebagainya; (7) risiko reputasi adalah risiko yang dihubungkan dengan penurunan reputasi entitas perusahaan tersebut. berikut ini adalah beberapa definisi dari manajemen risiko, yaitu (1) manajemen risiko adalah pendekatan yang kuat dan terkoordinasi untuk menilai dan merespon semua risiko yang mempengaruhi pencapaian tujuan strategik dan finansial organisasi. ini meliputi risiko, baik dari sisi bawah maupun sisi atas (iia institute of internal auditor); (2) manajemen risiko adalah budaya proses dan struktur yang diarahkan menuju manajemen efektif atas potensi kesempatan dan pengaruh merugikan (australian/new zealand standard); (3) manajemen risiko adalah sebuah proses yang dipengaruhi oleh dewan perusahaan, maupun manajemen dan personil lain entitas tersebut, diterapkan dalam penetapan strategi dan berlaku di seluruh perusahaan, dirancang untuk mengenali peristiwa potensial yang dapat mempengaruhi entitas itu, dan mengelola risiko agar tetap ada dalam jangkauan risikonya sehingga dapat memberikan jaminan yang wajar mengenai pencapaian tujuan entitas (coso committeeof sponsoring organization of the treadway commission). pengertian internal auditing yang tradisional terdiri dari konfirmasi bahwa pengendalian dsalam perusahaan sudah dilakukan dengan baik dan membuat recomendasi jika pengendalian tidak baik. pihak yang membuat rekomendasi tersebut adalah internal auditor yang ditujukan kepada para manajer, dengan harapan para manajer tersebut dapat menerima. dengan demikian, sistem tradisional ini menggambarkan bahwa internal audit bertanggung jawab terhadap pengendalian dan implikasi risiko dalam suatu manajemen. akan tetapi, sesuai dengan turnbull guidance yang menekankan suatu realitas bahwa para manajer bertanggung jawab untuk pengembangan respon atas risiko-risiko dan memutuskan langkah-langkah yang harus diambil jika risiko-risiko tersebut tidak terkontrol dengan baik. perkembangan selanjutnya dalam internal audit adalah fungsi dan tugas internal audit bisa diklarifikasikan sebagai pemberi opini kepada manajemen tentang efektifitas dari manajemen dalam menghadapi risiko. opini tersebut sekurang-kurangnya mencakup hal-hal tentang ketidakefektifan manajemen dalam mengontrol risiko yang ada. dalam hal ini, internal audit masih dapat memberikan rekomendasi, namun sifatnya hanya sebatas konsultasi. untuk itu, dalam melakukan tugasnya, internal audit haruslah juga memperhitungkan faktorfaktor risiko yang ada. pelaksanaan tugas internal audit dengan memperhatikan factor risiko inilah yang lazim disebut risk based internal auditing (rbia). pelaksanaan rbia ini melibatkan manajemen terlibat lebih jauh dalam penanganan risiko, yang di antaranya dapat dijelaskan sebagai berikut (1) risiko-risiko yang tercakup dalam audit akan ada dalam semua bagian organisasi. dengan demikian, manajer setiap departemen akan terlibat. banyak risiko akan signifikan dalam organisasi dan diskusi mengenai cara menanggulanginya akan melibatkan senior manajer dan direktur; (2) rbia menekankan tanggung jawab manajemen untuk mengatur risiko. internal auditor terlibat dalam diskusi dengan para manajer mengenai risiko-risiko yang dihadapinya dan meminta respon para manajer atas risiko-risiko tersebut. pelaksanaan hal ini mungkin diperlukan meeting permulaan dalam menghadapi risiko, termasuk juga penilaian risiko yang menentukan seberapa besar risiko yang ada; (3) setelah dilakukan meeting pendahuluan, meeting selanjutnya diharapkan sudah mengurangi beban pemahaman risk based internal auditing.....(choirul anwar) 93 terhadap risiko sehingga para manajer tinggal melaporkan tindakan apa yang harus dilakukan dalam kondisi risiko-risiko yang ada tidak dikendalikan dengan baik; (4) kepala internal audit disyaratkan untuk memberikan profil perusahaan, yang tidak hanya meliputi bidang keuangan saja yang diharapkan agar para manajer lainnya dapat mengerti dan mampu memberikan masukan atas risiko yang sedang dihadapi perusahaan dari segala faktor; (5) rbia mensyaratkan para manajer untuk berhadapan dengan risiko yang ada di departemennya. jika perlu, para manajer tersebut harus membuat risiko-risiko yang ada di departemennya masing-masing. dengan demikian, para manajer tersebut harus tahu bahwa tanggung jawab atas risiko perusahaan bukan menjadi tanggung jawab dari internal auditor, namun lebih luasnya adalah tanggung jawab dari masing-masing manajer. metode penelitian objek penelitian adalah pt indonesia buffon film (ibf) yang merupakan perusahaan patungan antara investor lokal dan investor asing, yaitu pt du pont international. penelitian ini menerapkan metode studi kasus karena lebih memberi tekanan pada analisis terhadap kejadian yang ada di perusahaan. bentuk studi kasus diplih dalam penelitian ini agar diperoleh pemahaman yang lebih mendalam tentang objek yang diteliti, yaitu perusahaan yang menerapkan enterprise risk management yang digunakan sebagai bahan acuan risk based internal audit. metode studi kasus yang digunakan dalam penelitian ini didukung dengan beberapa pendekatan. berdasarkan tujuan penelitian, maka penelitian ini menggunakan pendekatan deskriptif karena penelitian ini bertujuan untuk mengetahui kinerja perusahaan berdasarkan analisis risk based internal auditing. pengumpulan data yang dilakukan di lapangan adalah melalui peninjauan secara langsung ke pt ibf yang menjadi objek penelitian. beberapa cara yang dilakukan untuk memperoleh data antara lain (1) wawancara. data diperoleh dengan melakukan tanya jawab secara langsung dengan beberapa pimpinan serta setiap manajer dari setiap departemen. teknik wawancara ini dilakukan untuk memberikan pemahaman yang lebih mendalam mengenai objek penelitian selain dari data-data fisik yang telah dikumpulkan; (2) observasi. teknik observasi ini dilakukan terhadap aktivitas operasional perusahaan yang berkaitan dengan permasalahan; (3) kuesioner. teknik penyebaran kuesioner kepada semua divisi yang ada di perusahaan ini yang kebetulan juga menjadi klien penulis selaku konsultan manajemen yang menyempurnakan fungsi internal control agar bisa bermanfaat secara optimal. hasil dan pembahasan hasil temuan utama internal control dan risiko yang harus dikendalikan seperti diuraikan sebelumnya, risiko utama dalam perusahaa ini adalah akumulasi rugi, dan diikuti risiko-risiko yang berkontribusi terhadap risiko utama. untuk lebih memperjelas alur penerapan enterprise risk management (erm), yang didasarkan pada risk based internal audit (rbia), manajemen mengacu kepada kerangka kerja erm pada the australian/new zealand standard in risk management (az/nzs 4360) yang membagi proses erm dalam 7 langkah (gambar 1). 94 journal the winners, vol. 10 no. 2, september 2009: 89-99 gambar 1 tujuh langkah enterprise risk management (erm) departemen business audit dalam melaksanakan tugasnya berusaha mengikuti alur bagan dari proses mulai dari penentuan risiko sampai dengan proses pemantauan atau monitoring yang di-follow up dengan laporan kepada manajemen perusahaan. berikut ini adalah hasil temuan dan identifikasi dari permasalahan yang ada di perusahaan, yang dikembangkan dan disosialisasikan oleh departemen business audit untuk dikenali seluruh komponen perusahaan, kemudian ditindaklanjuti sesuai dengan tujuan perusahaan. langkah ini terdiri dari eksternal, internal, dan risk management context. context eksternal yang ada di pt ibf adalah bagaimana perusahaan ini berhubungan dengan pihak luar perusahaan. termasuk dalam hal ini, yang sangat diperlukan adalah pemahaman mengenai swot analysis dari pihak eksternal terhadap pt ibf. strength atau kekuatan pt ibf adalah mampu memasuki pasar internasional dalam memasarkan produknya, yang berupa polyester films. pada tanggal 1 januari 2000, manajemen perusahaan menandatangani sales and distribution agreement dengan dupont china ltd. dan dupont taiwan ltd., yang bertanggung jawab terhadap pemasaran di hongkong dan taiwan. dengan agreement ini, pangsa pasar pt ibf di kedua negara tersebut menjadi terjamin. agreement ini masih berlanjut sampai sekarang. begitu juga pemasaran di amerika serikat dan jepang. related party perusahaan ini tersebar di seluruh dunia. dengan demikian, kekuatan perusahaan ini adalah di pangsa pasar internasionalnya. weakness dari faktor eksternal hanyalah permasalahan penetapan harga. meskipun berhubungan dengan related party, masing-masing party juga mempunyai target margin tersendiri sehingga harga jual yang rendah merupakan weakness dari faktor eksternal. opportunity perusahaan ini dari fakctor eksternal adalah masih bisa dikembangkannya dialog untuk meningkatkan harga jual sehingga buffon film group secara keseluruhan dapat meraih margin yang diinginkan dan masih tetap menguasai market international. opportunity yang lain dari faktor eksternal adalah dari segi pembiayaan atau financing. dengan melebarkan sayap ke seluruh dunia, maka bisa ditimbulkan yang kuat membantu yang lemah sesama group. salah satu ancaman (threat) yang perlu diperhatikan adalah adanya produk dari china dan eropa timur yang mampu memproduksi produk sejenis dengan harga yang sangat kompetitif. context internal adalah bagaimana perusahaan dapat mengenali objektifnya dalam menangani permasalahan yang ada. dalam hal ini, objektif internal utama yang harus dihadapi adalah bagaimana caranya menanggulangi atau mengurangi akumulasi kerugian agar perusahaan dapat survive di masa datang. salah satu caranya adalah di masa yang akan datang manajemen haruslah mampu menghasilkan profit dan cash in dari operasional perusahaan semaksimal mungkin. pengenalan permasalahan atau risiko yang dihadapi dalam menciptakan profit ini akan dibahas kemudian. contex risk management mulai dikembangkan semenjak hasil audit laporan keuangan tahun buku 2004 dan 2005. dari hasil audit tersebut, terdapat catatan bahwa untuk ke depannya dengan uncertainty yang tinggi, maka dikhawatirkan perusahaan tidak dapat melanjutkan going concern-nya. semenjak itu, semua lini manajemen berusaha melakukan pembenahan semaksimal mungkin agar identify risk analyze/ quan tify risk integrate risk assess/ priority risk treat / exploit risk establish context monitor & review risk based internal auditing.....(choirul anwar) 95 operasional perusahaan tetap exist. langkah ini meliputi pendokumentasian dan kejadian-kejadian yang mencerminkan ancaman material terhadap pencapaian objektif perusahaan atau representasi perusahaan dalam memenuhi competitive advantage. identifikasi risiko ini merupakan risiko-risiko yang berkontribusi, baik langsung maupun tidak langsung terhadap risiko utama, yaitu akumulasi kerugian yang sangat besar. risiko yang ada di pt ibf dapat diamati dan diidentifikasikan sebagai kompetensi manajemen, leadership, operasional mesin, oil price, simplifying/downsizing, internal control keuangan, kompetitor, dan ketersediaan modal/dana. pada tahap ini, perusahaan harus bisa menganalisis risiko yang ada untuk mendapatkan perhatian dan perlakuan yang baik (treatment), yakni di antaranya adalah (1) kompetensi manajemen. terbatasnya tingkat pengetahuan para anggota manajemen, khususnya di bidang financial dan accounting sehingga manajemen tidak dapat mengendalikan kapan harus bertindak efisien, khususnya terhadap permasalahan efisiensi costing; (2) leadership. rendahnya tingkat leadership dari manajemen perusahaan, dengan ditandainya setiap keputusan selalu menunggu persetujuan dari holding company di jepang sehingga mengakibatkan lambatnya mengambil keputusan dalam pemecahan suatu permasalahan; (3) operasional mesin, yakni kapasitas mesin yang tidak dioptimalkan. dengan demikian, masih adanya idle kasity mesin yang tidak dimanfaatkan sehingga berakibat harga per unit produk tidak dalam ideal production cost; (4) oil price, yakni harga bahan bakar minyak. dengan adanya harga bahan baker minyak yang cukup tinggi, sangatlah membebankan perusahaan dalam bersaing. sementara itu, kompetitor telah menggunakan alternative energy dengan menggunakan batu bara sebagai sumber energi bagi kepentingan utility-nya, yang secara hitungan ekonomis dan teknis jauh lebih murah dan mampu menghasilkan tenaga yang sebanding dengan sumber energi minyak; (5) simplifying/downsizing. adanya downsizing yang disyaratkan untuk mesimplify cost yang mengakibatkan perusahaan kehilangan personel yang kompeten di bidangnya sehingga banyak produk yang dikomplain para kustomer karena kurang memenuhi keinginan dari pelanggan; (6) internal control. lemahnya internal control yang dapat menciptakan peluang adanya fraud dan kulusi dalam berbagai siklus industri seperti siklus pendapatan, pembiayaan, produksi, dan pembayaran gaji; (7) kompetitor. berkembangnya para kompetitor dalam memasuki bisnis serupa yang mampu menghasilkan barang yang berkualitas hampir sama dengan produk perusahaan, namun dengan harga yang sangat rendah seperti produk dari china dan taiwan; (8) ketersediaan modal/dana. mengingat akumulasi kerugian sudah melebihi 90% setoran modal, maka ketersediaan dana yang deperlukan perusahaan sangatlah tergantung dari pendanaan dari luar yang berkonsekuensi pada kewajiban pembayaran bunga. dalam langkah ini, perusahaan berusaha untuk mengintegrasikan risiko-risiko yang ada untuk diunifikasi agar lebih fokus ke pemecahan permasalahan. fokus utama adalah krisis menajemen yang sedang terjadi yang disebabkan oleh lemahnya leadership dalam perusahaan sehingga berakibat pada lemahnya internal control. semuanya ini dapat mengarah pada kelemahan atau weakness yang berhubungan dengan fihak eksternal seperti kompetitor, dana ekstern, dan rentannya daya tahan perusahan dalam antisipasi faktor eksternal seperti dampak naiknya harga bahan bakar minyak. dalam tahap ini juga, manajemen diarahkan untuk memberikan prioritas utama yang berkontribusi terhadap risiko utama. seperti telah dibahas dalam integrate risk, assess/prioritize risk merupakan tindak lanjut dari tahap sebelumnya. dalam kasus ini, pt ibf harus memberikan prioritas utama pemecahan permasalahan, yang dapat digolongkan ke dalam faktor internal dan eksternal. prioritas faktor internal lebih diutamakan kerena risiko ini bersifat dapat dikendalikan oleh manajemen, namun faktor eksternal amatlah tergantung dari perkembangan situasi global, baik lokal maupun internasional. prioritas risiko tersebut dengan urutan (1) internal, yakni leadership, kompetensi manajemen, internal control, simplifying/downsizing, operasional mesin; dan (2) eksternal, yakni kompetitor, ketersediaan modal/dana, oil price. dengan adanya pengidentifikasian risiko dan prioritas risiko yang ada di perusahaan, maka manajemen pt ibf bisa lebih mudah dalam meminimalisasikan risiko-risiko yang ada. 96 journal the winners, vol. 10 no. 2, september 2009: 89-99 pembahasan sesuai dengan assessment risk di atas, perlu kiranya diminimalisasi kekurangan atau mengurangi timbulnya risiko yang lebih besar dengan urutannya sebagai berikut. pertama, leadership. para penentu keputusan di pt ibf mutlak dituntut untuk mengambil inisiatif kepemimpinan yang sigap dengan mempertimbangkan aspek teknis dan ekonomis dalam penentuan keputusan. salah satu contohnya adalah dalam siklus industri. manajemen harus cepat tanggap menentukan pilihan supplier mana yang dapat mensuplai bahan baku dengan harga murah dan tepat waktu. kalau ada supplier yang bisa menyediakan itu semua dengan baik, meskipun supplier itu dari luar grup harus bisa diterima dengan cepat tanpa menunggu instruksi dari jepang (head quarter). selain itu, ketegasan pimpinan dalam menerapkan policy perusahaan dalam semua aspek juga dituntut untuk ditegakkan. sebagai contoh adalah jangan segan-segan melakukan rolling pegawai, yang berfungsi untuk lebih memeratakan kemampuan dan transfer knowledge di antara pegawai. begitu juga dalam kasus penjualan, pimpinan harus bisa menentukan sikap untuk bisa menjual produk kepada pihak luar group sepanjang harganya kompetitif. kedua, kompetensi manajemen. manajemen dituntut harus bisa dengan cepat belajar terhadap perubahan baru dan juga dituntut untuk dapat membaca indikator-indikator ekonomi dan teknis. sebagai contoh, manajemen harus dapat mempelajari indikator siklus produksi sehingga dapat menentukan sikap kapan harus meng-order bahan baku, kapan harus mengoptimalisasikan jam kerja mesin, dan juga overhead cost per satuan produk. semua ini ada indikatornya seperti perputaran inventory, perputaran piutang, efisiensi aset dalam menghasilkan laba, aktivitas-aktivitas cash flow mulai dari aktivitas operasional, aktivitas investasi, dan aktivitas pendanaan, dan lain sebagainya. semua jajaran manajemen harus peka teradap indicator-indikator tersebut. jika tidak mengerti haruslah belajar dengan cepat, tidak boleh malas atau menunda untuk belajar. mengejar kekurangan tersebut bisa didapat dari para ahli maupun belajar dari literatur-literatur yang ada. ketiga, internal control keuangan. wibawa manajemen amatlah dituntut dalam mengimplementasikan internal control. manajemen tidak boleh membuka peluang bagi karyawan untuk melakukan kecurangan (commit fraud). salah satu contohnya adalah manajemen haruslah tanpa segan-segan memisahkan jabatan dalam struktur organisasi, juga menerapkan sistem rolling. khususnya dalam sistem rolling, ada beberapa manfaat yang dapat diperoleh seperti semua pegawai akan mampu mengerjakan semua lini aktivitas perusahaan. jadi, kalau ada karyawan yang berhalangan hadir dapat digantikan oleh yang lainnya. rolling juga memberikan efek malu jika seseorang atau kelompok akan melakukan kecurangan, mereka akan kuatir kalau kecurangannya tersebut akan diketahui dengan cepat, dengan alasan pegawai yang dulu tidak pernah melakukan kegiatan seperti itu (kecurangan). contoh yang kurang baik adalah manajer purchasing, dari pertama masuk jadi pegawai di pt ibf sampai pension, tetap di bagian purchasing. hal ini amatlah membuka peluang bagi orang tersebut untuk berkonspirasi dengan supplier. keempat, simplifying/downsizing. perlakuan simplifying yang bertujuan untuk efisiensi tidak boleh dilakukan dengan asal memangkas jumlah karyawan, tapi harus melihat mana karyawan yang berpotensi dengan yang tidak sebab karyawan yang berpotensi merupakan aset perusahaan yang sulit mendapatkan gantinya dengan cepat. kelima, operasional mesin. operasional mesin harus juga diperhatikan, jangan sampai mesin yang berkapasitas 11.000 ton mengolah biji plastik per tahun, tapi hanya digunakan untuk mengolah 8.000 ton saja. dengan demikian, energi yang telah terbuang selama setahun sebesar 3.000 ton. dengan demikian, harga pokok per satuan produk menjadi lebih tinggi. juga faktor yield produk harus diperhatikan. tidak boleh terjadi waste produk terlalu besar, yang hanya dapat dijual dengan harga murah. selama ini keadaan yang ada adalah waste produk masih tinggi, namun sikap manajemen kurang tegas terhadap hal ini. disinyalir bagian produksi berkorporasi dengan para penadah produk waste di sekitar pabrik. risk based internal auditing.....(choirul anwar) 97 keenam, kompetitor. risiko kompetitor susah untuk diatasi. salah satu cara yang bisa diusulkan adalah membentuk suatu asosiasi sesama industri sejenis sehingga harga jual dan perolehan bahan baku bisa dimusyawarahkan bersama. apabila kompetitor di luar negeri, maka bisa dilakukan dengan mengadakan agreement penjualan bersama. menghadapi risiko kompetitor, sesuatu yang bisa dikendalikan oleh manajemen adalah menciptakan efisiensi operasional perusahaan seoptimal mungkin. ketujuh, ketersediaan modal/dana. akumulasi kerugian yang melanda bertahun-tahun mulai tahun 1996, semenjak berdirinya pt ibf amatlah sulit bagi manajemen untuk tidak berhubungan dengan pendanaan luar. harapan bisa mencukupi dana dari kemampuan sendiri melalui aktivitas operasi dari cash flow sangatlah sulit. untuk itu, hubungan dengan pendana luar harus baik. namun, risiko yang ditimbulkan atas pendanaan luar juga harus diperhitungkan dengan baik seperti faktor bunga. untuk mengurangi ketergantungan kepada pihak luar, manajemen haruslah menciptakan cash in dengan sebanyak-banyaknya dari aktivitas operasional untuk masa mendatang. kedelapan, oil price. risiko melonjaknya harga minyak dunia merupakan di luar jangkauan dari kemampuan manajemen. salah satu cara untuk mengatasi hal itu adalah diciptakannya sumber energy, semisal dari batu bara atau bio diesel. dengan adanya energi alternatif ini, perusahaan tidak akan selalu khawatir dengan tidak stabilnya harga minyak dunia. namun, energi alternatif ini juga harus perlu mendpat perhatian pengadaannya sebab energi alternatif lain akan memerlukan investasi tambahan yang harus diintegrasikan dengan konstruksi mesin-mesin yanga ada. monitoring dan review amatlah diperlukan dalam penerapan risk based audit berdasarkan pada manfaat pengenalan diri sendiri melalui erm. proses monitoring ini bertujuan apakah risikorisiko yang sudah ditentukan dan upaya cara untuk meminimalisasikannya telah efektif dan efisien atau tidak. dengan adanya identifikasi risiko tersebut, apakah profit bisa dicapai sesuai dengan yang sudah di-budget kan apa belum. kalau belum, maka haruslah lebih serius lagi untuk melaksanakan treatment terhadap risiko tersebut. proses monitoring dan review ini, dapat dilaksanakan dalam sistem quarter, semester, dan tahunan. hasil monitoring ini harus dirapatkan antar manajemen sehingga integrasi solusi permasalahan dapat dilaksanakan secara komprehensif di lingkungan perusahaan. simpulan pada bagian akhir dari penulisan ini, penulis berusaha menyimpulkan apa yang ada dalam kenyataan operasional perusahaan pt ibf. dalam operasionalnya, pt ibf berusaha mengatur pengendalian internal secara efisien dan mantap. untuk itu diperlukan suatu alat bantu atau tools dalam pelaksanaan hal tersebut. pt ibf dalam usahanya melaksanakan internal control berusaha mengadopsi sistem pengenalan dan pengendalian risiko berdasarkan the australian/new zealand standard in risk management (az/nzs 4360), yaitu suatu konsep dalam pengenalan dan me-manage risiko yang ada, yang umumnya disebut enterprise risk management (erm). pengenalan atas erm ini saja tidaklah cukup kalau hanya dilakukan atau digunakan sebagai teori semata. tanpa ada pengimplementasiannya di dunia nyata operasional perusahaan. untuk itu, sebagai kegiatan monitoring, agar supaya proses pengendalian internal control berjalan dengan baik, manajemen perusahaan mendirikan suatu departemen khusus, yaitu department business audit yang dalam tugasnya mengemban memonitor internal control perusahaan, dengan menjunjung tinggi mental independensi demi tercapainya tujuan perusahaan. pelaksanaan the australian/new zealand standard in risk management (az/nzs 4360) sudahlah kompleks, yang mana di dalam teori ini telah terjadi adanya penggabungan tujuan yang juga membantu tujuan utama dari risk based internal auditing. dilihat dari satu per satu step pada standar ini, yang dimulai dari establish context, identify risk, analysze/quantity risk, integrate risk, 98 journal the winners, vol. 10 no. 2, september 2009: 89-99 assess/priority risk, treat/ exploit risk, monitoring, dan review telah menunjukkan praktik dalam implementasi risk based inernal auditing, di mana perlu analisis proses mulai pengenalan masalah yang ada, identifikasi tipe-tipe risiko yang ada, perhitungan risiko dan audit risiko, proses pengendalian risiko serta pentingnya pelaporan risiko. secara keseluruhan, pt ibf telah berhasil dengan baik mengenali kemungkinan risiko yang ada di dalam operasinal usahanya. namun, masih ada juga celah-celah kelemahan yang ada yang harus dianalisis dan di-follow up lebih lanjut oleh manajemen. celah-celah kelemahan yang harus segera dikendalikan tersebut adalah sebagai berikut. pertama, independensi dari department business audit. menurut pengamatan penulis, independensi business audit masih belum maksimal. hal ini yang menjadikan bahan pertanyaan penulis, apa penyebab terjadinya hal tersebut. apakah solider antar teman yang begitu kuat sehingga business audit merasa enggan untuk melaporkan keadaan yang ada di lapangan, atau apakah ada rasa tekanan dan ancaman. hal ini mengingat bahwa business audit melalui wawancara dengan penulis telah memaparkan risiko-risiko yang ada dan bagaimana cara mengatasinya. namun, masih banyaknya kekurangan yang ditemui penulis seperti lemahnya internal control pengeluaran keuangan. untuk itu, perlu adanya training dan pemahaman pentingnya kerjasama, tapi dalam hal yang positif untuk memacu kinerja perusahaan. peran dari pimpinan puncak perusahaan sangatlah diperlukan dalam hal ini seperti peran dewan direksi maupun manajer personalia. kedua, pelaporan. seperti yang diutarakan penulis sebelumnya bahwa pelaporan adalah memegang penting dari pelaksanaan rbia. namun, yang penulis temui di perusahaan ini adalah pelaporan sifatnya hanya penyajian data semata, bukannya bersifat kesimpulan yang didukung dengan kenyataan data yang ada. dengan demikian, masih seringkali dijumpainya kenyataan yang ditemui penulis bahwa kejadian dan risiko yang ada dibiarkan begitu saja, tanpa ada tindak lanjut untuk mengatasinya. dalam hal ini, penulis menggarisbawahi bahwa lemahnya pelaporan dapat menyesatkan informasi yang masuk ke penentu keputusan sehingga permasalahan yang seharusnya ditindaklanjuti dengan baik, maka tidak mendapatkan penanganan atau tidak ditindaklanjuti sama sekali. untuk itu, perlu ditingkatkan kualitas pelaporan dari hasil temuan, analisis, dan saran-saran perbaikan yang harus dilakukan. ketiga, human resources business audit. business audit memegang peranan penting dalam pelaksanaan erm dan rbia. untuk itu, diperlukan personalia yang handal dan tajam dalam menganalisis keseluruhan operasional perusahaan. namun, yang penulis dapati bahwa personal di business audit department belumlah mempunyai kualitas yang diingingkan, atau dalam artian kemampuan personel di business audit masih setaraf dengan kemampuan klerikal yang hanya mempunyai kemampuan menyajikan data mentah, tanpa ada analisis yang baik dan benar. untuk itu, penulis perlu menyarankan supaya personel dalam business audit perlu mendapatkan training yang lebih memadai, terutama dalam menganalisis risiko-risiko perusahaan dan bagaimana cara melaporkannya dengan baik kepada pihak-pihaak penentu keputusan di pt ibf. demikianlah akhir dari penelitian ini, yang bertemakan “bagaimana implementasi pelaksanaan rbia”. pelaksanaan rbia tentunya juga didasari atau ditunjang oleh hal-hal lain seperti pengenalan dan cara manajemen risiko yang baik (erm), praktik internal control dan internal audit yang baik, yang telah memenuhi standar yang diakui atau dianggap wajar oleh pengguna informasi perusahaan atau para stakeholder yang mempunyai kepentingan atas operasional perusahaan. risk based internal auditing.....(choirul anwar) 99 daftar pustaka barton, t.l., shenkir, w.g., and walker, p.l.. (2002). making enterprise risk management pay off: how leading companies implement risk management, fei research foundation & prentice hall ft. bell, c., blackburn, s., and chambers, a. (2004). internal audit service, cch. belmont, d.p. (2004). adjusted performance measurement, cfa. wiley finance. bowden, a.r., lane, m.r., and martin, j.h. (2001). triple bottom line risk management: enhancing profit, environmental performance, and community benefits, usa: john wiley & sons, inc. dallas, g. (2004). governance and risk: an analytical handbook for investor, managers, directors, stakeholders, usa: mc graw-hill. dembo, r.s., and freeman, a. (1998). the rules of risk: a guide for investors, usa: john wilwy & sons, inc. lam, j. (2003). enterprise risk management: from incentives to controls, wiley finance. mccarthy, m.p., and flynn, t.p. (2003). risk: from the ceo and board perspective, usa: mcgraw hill. pickford, j. (2001). mastering risk: concepts, volume 1, prentice hall-financial times. shimell, p. (2002). the universe of risk: how top business leaders control risk and achieve success, prentice hall-financial times. microsoft word 04_dian_setting.doc 34 journal the winners, vol. 11 no. 1, maret 2010: 34-42 bauran pemasaran, manajemen hubungan pelanggan dalam menciptakan loyalitas konsumen dian tauriana1; andhika2 1, 2 jurusan manajemen, fakultas ekonomi dan bisnis, universitas bina nusantara, jln. k.h. syahdan no. 9, palmerah, jakarta barat 11480 dtauriana@binus.edu abstract the more advanced development of the business world led to the emergence of an increasingly tight competition, which challenge must be faced by pt serafim tours and travel by conducting strategic steps. maintaining the viability of the company can be achieved by gaining consumer loyalty. to achieve such loyalty is to utilize existing marketing concepts, namely the marketing mix and customer relationship management (crm). it is important to understand consumers' needs very well (fast and accurate). through the concept of marketing mix, to think about how your product or service is packaged, giving a brand, having characteristics, level of prices offered, level of discount given, how the products or services are distributed and the latter, through what media service the product will be known. the presence of the crm will be able to cope with consumer demand since the aim of crm is to get the core concept of customer that is not obvious and put it in terms of company applications framework. this paper reviews the theory and implementation of marketing mix and crm and its influence on customer loyalty by using path analysis. keywords: marketing mix, customer relationship management, customer loyalty, path analysis abstrak perkembangan dunia usaha yang semakin maju menyebabkan timbulnya persaingan yang semakin ketat, tantangan tersebut harus dihadapi pt. serafim tours and travel dengan melakukan langkah-langkah strategis. cara menjaga kelangsungan hidup perusahaan adalah meraih loyalitas konsumen. untuk meraih loyalitas tersebut adalah dengan memanfaatkan konsep pemasaran yang ada, yaitu bauran pemasaran dan manajemen hubungan pelanggan (crm). sangatlah penting untuk mengetahui kebutuhan konsumen dengan baik (cepat dan tepat). melalui konsep bauran pemasaran, dapat dipikirkan bagaimana produk atau jasa tersebut dikemas, diberikan merek, memiliki karakteristik, berapa tingkat harga ditawarkan, berapa tingkat diskon yang diberikan, bagaimana produk atau jasa didistribusikan dan yang terakhir, melalui media apa produk atau jasa tersebut akan dikenal. kehadiran crm akan mampu mengatasi kebutuhan konsumen karena tujuan crm adalah mendapatkan inti konsep pelanggan yang tidak jelas dan meletakkannya dalam kerangka aplikasi kerja perusahaan. tulisan ini membahas tentang teori serta implementasi bauran pemasaran dan crm dalam pengaruhnya terhadap loyalitas konsumen dengan menggunakan analisis jalur path. kata kunci: bauran pemasaran, manajemen hubungan pelanggan, loyalitas konsumen, path analysis bauran pemasaran, .....(dian tauriana; andhika) 35 pendahuluan dengan banyaknya pesaing dalam usaha bisnis travel ini, masing-masing perusahaan yang berkecimpung dalam dunia bisnis ini harus memiliki langkah strategik guna meningkatkan daya saing usaha. karena disadari dengan situasi persaingan yang ketat, sulit untuk meningkatkan jumlah pelanggan. perilaku konsumen oleh karenanya menjadi perhatian bagi perumus strategi pemasaran dalam setiap pembuatan sistem pelayanan produk maupun jasanya. salah satu kunci sukses bersaing dalam situasi penuh persaingan ini ialah kemampuan perusahaan dalam meningkatkan kepuasan pelanggan dan meraih loyalitas pelanggan. penelitian menunjukan bahwa biaya yang dibutuhkan untuk mendapatkan pelanggan baru 6 kali lebih besar dari biaya untuk mempertahankan pelanggan. oleh kerena itu, alternatif yang lebih baik adalah melakukan berbagai upaya mempertahankan pasar atau pelanggan yang sudah ada. salah satu konsep yang menunjang terciptanya loyalitas pelanggan adalah melakukan hubungan pelanggan atau sering disebut dengan crm (customer relationship management). melalui crm yang memiliki pemahaman strategi bisnis dalam menyeleksi dan mengelola pelanggan untuk mengoptimalkan nilai jangka panjang, maka meraih loyalitas pun dapat tercapai melalui konsep atau strategi tersebut. peneliti melakukan observasi di pt serafim tours and travel yang bertempat sebagai objek penelitian. mengingat banyaknya pesaing yang berkecimpung pada dunia bisnis travel, pt serafim tours and travel ingin meningkatkan daya saing usaha dengan menambah jumlah konsumen serta mempertahankannya melalui strategi bauran pemasaran dan manajemen hubungan pelanggan (crm). adapun masalah yang ingin dijawab lewat penelitian ini adalah (1) apakah bauran pemasaran yang dilakukan pt serafim tours and travel berpengaruh terhadap loyalitas konsumen?, (2) apakah manajemen hubungan pelanggan (crm) yang dilakukan pt serafim tours and travel berpengaruh terhadap loyalitas konsumen?, (3) seberapa besar bauran pemasaran dan manajemen hubungan pelanggan (crm) berpengaruh terhadap loyalitas konsumen pt serafim tours and travel?. penelitian ini dilakukan bertujuan untuk (1) mengetahui pengaruh bauran pemasaran yang dilakukan pt serafim tours and travel terhadap loyalitas konsumen, (2) mengetahui pengaruh manajemen hubungan pelanggan (crm) yang dilakukan pt serafim tours and travel terhadap loyalitas konsumen, dan (3) mengetahui secara simultan pengaruh bauran pemasaran dan manajemen hubungan pelanggan (crm) terhadap loyalitas konsumen pt serafim tours and travel. pengertian bauran pemasaran (marketing mix) adalah sebagai berikut. menurut kotler (2005:19), bauran pemasaran adalah seperangkat alat pemasaran yang digunakan perusahaan untuk terus menerus mencapai tujuan pemasaran di pasar sasaran. pemasaran yang efektif memadukan seluruh elemen pemasaran ke dalam suatu program koordinasi yang dirancang untuk meraih tujuan pemasaran perusahaan dengan mempersembahkan nilai kepada konsumen. bauran pemasaran menciptakan seperangkat alat untuk membangun posisi yang kuat dalam pasar sasaran. bauran pemasaran tersebut diklasifikasi oleh mc carthy (kotler, 2005:19) menjadi 4 kelompok yang dikenal dengan 4-p, yaitu product, price, promotion, dan place. menurut rambat lupiyoadi dan ahmad hamdani (manajemen pemasaran jasa, 2006:81), konsumen tidak hanya membeli fisik dari produk, tetapi manfaat dan nilai produk yang disebut “the offer.” keunggulan produk jasa terletak pada kualitasnya, yang mencakup keandalan, ketanggapan, kepastian, dan empati. kembangkan nilai tambah produk selain keistimewaan dasarnya, agar dapat dibedakan dengan produk lain dan memiliki citra tersendiri. dengan demikian, produk akan mampu bersaing. konsep manajemen hubungan pelanggan crm (customer relationship management) adalah sebagai berikut. menurut francis buttle (customer relationship management concept and tools, 2006, p3) crm adalah pendekatan strategi manajemen dalam upaya menciptakan, mengembangkan dan mewujudkan hubungan yang saling menguntungkan dengan pelanggan dalam 36 journal the winners, vol. 11 no. 1, maret 2010: 34-42 jangka panjang, khususnya terhadap pelanggan potensial, dalam upaya memaksimalkan customer value (nilai pelanggan) dan corporate profitability. berdasarkan analisis terhadap pembangunan hubungan dengan pelanggan, maka terdapat tiga pendekatan utama yang perlu dalam implementasi crm (francis buttle, customer relationship management concept and tools, 2006:88), yaitu (1) technology-based relationship. dalam hal ini, pendekatan crm berhubungan dengan mekanisme membangun hubungan pelanggan melalui teknologi dan menyederhanakan rangkaian bisnis proses dalam menciptakan value bagi pelanggan. bentuk-bentuk competitive advantage yang ditawarkan dengan technology-based relationship ini, yaitu pelayanan non-stop 24 jam dan 7 hari per minggu, kenyamanan dalam hal aksesibilitas, biaya yang murah dalam berinteraksi, virtual problem handling, multi product marketing, intellegent cross selling, customized pricing & discount, operational flexibility, comprehensive product catalogue, dan holistic view of customer; (2) brand-based relationship. dalam pendekatan ini, konsep branding menjadi fokus penting dalam upaya perusahaan menciptakan customer value sehingga tercipta hubungan emosional yang erat, beberapa sikap misalnya kepercayaan, komitment, empati, dan lain lain. dengan menggunakan konsep brand-based relationship ini memiliki competitive advantage yang unik bila relatif dibandingkan dengan technology-based relationship, yaitu brand umumnya menciptakan long-term relationship, brand sebagai competitive advantage tidak mudah ditiru/di-copy oleh competitor, spectrum dari brand lebih luas, brand loyalty menciptakan loyalty customer, dan brand image berkaitan dengan company image; (3) human-based relationship. dalam pendekatan human-based relationship ini, diyakini memiliki kontribusi sangat besar terhadap terciptanya hubungan yang baik antara pelanggan dengan perusahaan. bentuk competitive advantage yang ditawarkan dengan human-base relationship ini, yaitu human touch, komunikasi dua arah, personal, responsif, dan empati. pengertian loyalitas konsumen adalah sebagai berikut. menurut prof. dr. h. buchari alma (manajemen pemasaran dan pemasaran jasa, cetakan ketujuh, 2005:294), loyalitas pelanggan mencakup pembelian ulang, penolakan pesaing, tidak terpengaruh terhadap daya tarik barang lain, dan frekuensi rekomendasi kepada orang lain. price place product promotion technology based human based brand based bauran pemasaran (marketing mix) 4p’s manajemen hubungan pelanggan (customer relationship management) loyalitas konsumen sumber: penulis gambar 1 kerangka pemikiran bauran pemasaran, .....(dian tauriana; andhika) 37 metode penelitian dalam analisis ini, penulis menggunakan metode penelitian deskriptif. tabel 1 metode penelitian tujuan penelitian desain penelitian time horizon jenis penelitian metode yang digunakan t-1 asosiatif deskriptif survey cross sectional t-2 asosiatif deskriptif survey cross sectional t-3 asosiatif deskriptif survey cross sectional keterangan: t1 : mengetahui pengaruh bauran pemasaran terhadap loyalitas konsumen pt serafim tours and travel. t2 : mengetahui pengaruh manajemen hubungan pelanggan/crm terhadap loyalitas konsumen pt serafim tours and travel. t3 : mengetahui secara simultan pengaruh antara bauran pemasaran dan manajemen hubungan pelanggan/crm terhadap loyalitas pelanggan pt serafim tours and travel. operasionalisasi variabel penelitian tabel 2 operasionalisasi variabel penelitian dimensi variabel indikator instrumen pengukuran skala pengukuran skala ukur bauran pemasaran produk (product) > pengakuan pelanggan atas produk yang dikonsumsi > penyajian dan kesesuaian produk kuesioner likert interval tempat (place) > pentingnya lokasi > kenyamanan tempat lokasi kuesioner likert interval harga (price) > kesesuaian harga > perbedaan harga dengan pesaing kuesioner likert interval promosi (promotion > relevansi promosi dengan penyajian produk > ketertarikan kuesioner likert interval crm technologybased > kenyamanan dalam hal aksesibilitas kuesioner likert interval brand-based > mempercayai perusahaan sebagai agen pilihan kuesioner likert interval human-based > human touch kuesioner likert interval loyalitas pembelian ulang > membeli kembali produk yang ditawarkan kuesioner likert interval penolakan pesaing > tidak mencari informasi tentang agent travel lain kuesioner likert interval tidak terpengaruh > tidak terpengaruh oleh iklan atau daya tarik dari agent travel lain kuesioner likert interval rekomendasi > merekomendasikan produk pt. serafim tours and travel kepada orang lain > menginformasikan hal-hal positif kuesioner likert interval 38 journal the winners, vol. 11 no. 1, maret 2010: 34-42 penelitian ini dilakukan dengan cara mengumpulkan data secara langsung pada perusahaan yang menjadi objek penelitian. data yang diperoleh secara langsung dari objek penelitian ini disebut data primer. cara untuk memperoleh data primer adalah wawancara langsung dengan pihak-pihak yang berkaitan dengan perusahaan. dalam penelitian ini, yang dipakai adalah random sampling, yaitu cara pengambilan sampel dari anggota populasi dengan menggunakan acak tanpa memperhatikan strata (tingkatan) dalam anggota populasi tersebut. dalam hal ini adalah konsumen atau pelanggan yang melakukan transaksi dengan pt serafim tours and travel. menurut kuncoro (2007:61), analisis korelasi pearson product moment berguna untuk mengetahui derajat hubungan antara variabel bebas (independent) dengan variabel terikat (dependent). analisis korelasi pearson product moment adalah: ( )( ) ( ) ( )2222 .. .)( ∑∑∑ ∑ −− σς−σ = yynxxn yxxyn rxy korelasi pearson product moment dilambangkan (r) dengan ketentuan nilai r tidak lebih dari harga (-1 ≤ r ≤ +1). apabila nilai r = -1 artinya korelasinya negatif sempurna; r = 0 artinya tidak ada korelasi; dan r = 1 berarti korelasinya sangat kuat. path analysis path analysis diartikan “a technique for estimating the effect’s a set ofindependent variables has on a dependent variable from a set of observed correlations, given a set of hypothesized causal asymetrik relation among the variables.” menurut (riduwan dan kuncoro, 2007), model path analysis digunakan untuk menganalisis pola hubungan antar variabel dengan tujuan untuk mengetahui pengaruh langsung maupun tidak langsung seperangkat variabel bebas (eksogen) terhadap variabel terikat (endogen). model path analysis yang dibicarakan adalah pola hubungan sebab akibat. terdapat beberapa asumsi di dalam path analysis, di antaranya adalah (1) hubungan antar variabel adalah bersifat linier, adaptif, dan normal; (2) hanya sistem aliran kausal ke satu arah artinya tidak ada arah kausalitas yang berbalik; (3) variabel terikat (endogen) minimal dalam skala ukur interval dan ratio; (4) menggunakan probability sampling; (5) observed variables diukur tanpa kesalahan (instrumen pengukuran valid dan reliable) artinya variabel yang diteliti dapat diobservasi secara langsung; dan (6) model yang dianalisis dispesifikasikan (diidentifikasi) dengan benar berdasarkan teori-teori dan konsep-konsep yang relevan artinya model teori yang dikaji dibangun berdasarkan kerangka teoritis tertentu. adapun hipotesa-hipotesa yang diuji adalah: ho : bauran pemasaran tidak memiliki pengaruh yang signifikan terhadap loyalitas konsumen. h1 : bauran pemasaran memiliki pengaruh yang signifikan terhadap loyalitas konsumen. ho : manajemen hubungan pelangan/crm tidak memiliki pengaruh yang signifikan terhadap loyalitas konsumen. h1 : manajemen hubungan pelanggan memiliki pengaruh yang signifikan terhadap loyalitas konsumen. ho : bauran pemasaran dan manajemen pelanggan/crm tidak memiliki pengaruh yang signifikan terhadap loyalitas konsumen. h1 : bauran pemasaran dan menajemen hubungan pelanggan/crm memiliki pengaruh yang signifikan terhadap loyalitas konsumen. bauran pemasaran, .....(dian tauriana; andhika) 39 hasil dan pembahasan pengujian analisis jalur (path analysis) langkah pengujian analisis jalur ini dibagi menjadi dua, di mana pengujian dilakukan secara keseluruhan dan individu, yaitu: y = ρyx1x1 + ρyx2x2 + ρyε1 gambar 2 struktur hubungan kausal x1 dan x2, terhadap y bauran pemasaran (x1) dan manajemen hubungan pelanggan (x2) berkontribusi secara simultan dan signifikan terhadap loyalitas konsumen pt serafim tours and travel (y) pengaruh bersama atau koefisien x1 dan x2 terhadap y atau koefisien determinan dan faktor residual dihitung sebagai berikut. besarnya kontribusi bersama x1 dan x2 terhadap y adalah: r2y(x1x2) = σ (ρyxk). (ryk) = (ρyx1).(ryx1) + (ρyx2).(ryx2) = (0.572) x (0.735) + (0.352) x (0.616) = 0.42042 + 0.2168 = 0.637 [ rsquare] = 63.7% kerangka hubungan antara jalur (bauran pemasaran [x1] terhadap loyalitas konsumen [y], dan manajemen hubugan pelanggan [x2] terhadap loyalitas konsumen [y] dan bauran pemasaran [x1], manajemen hubungan pelanggan [x2] terhadap loyalitas konsumen [y]) dapat dibuat melalui persamaan struktural sebagai berikut. ρyε1 = √ 1 – r2 yx1.x2 = √ 10.637 = 0.602 bauran pemasaran (x1) manajemen hubungan pelanggan / crm (x2) loyalitas konsumen (y) ρyε1 ε1 ρyx1 r2yx1x2 ρyx2 r12 40 journal the winners, vol. 11 no. 1, maret 2010: 34-42 y = ρyx1x1 + ρyx2x2 + ρyε1 y = 0.572 x1 + 0.352 x2 + 0.602 ε1 r2 yx1.x2 = 0.637 gambar 3 struktur hubungan kausal x1 dan x2 terhadap y tabel 3 model summary berdasarkan tabel 3, model summary diperoleh nilai sig f change sebesar 0.000. ternyata 0.000 < 0.05, maka keputusannya bahwa bauran pemasaran (x1) dan manajemen hubungan pelanggan/crm (x2) berkontribusi secara simultan dan signifikan terhadap loyalitas konsumen pt serafim tours and travel (y). hasil penelitian dari uraian hasil analisis penelitian diatas yang dilakukan dengan perhitungan analisa jalur/path analysis (bantuan software spss versi 17), maka dapat diperoleh hasil penelitian sebagai berikut. hasil uji korelasi pearson antara variabel x1, x2, dan y di atas dapat diringkas sebagai berikut. pembahasan besar pengaruh x1 (bauran pemasaran) dan x2 (manajemen hubungan pelanggan/crm) terhadap y dapat diketahui dari angka r square, yaitu 0.637. hal ini berarti loyalitas konsumen pt serafim tours and travel dapat dipengaruhi oleh variabel manajemen bauran pemasaran dan menajemen hubungan pelanggan/crm sebesar 63.7%. sedangkan sisanya (100% 63.7%) dipengaruhi oleh faktor-faktor lainnya. loyalitas konsumen pt serafim tours and travel (y) dipengaruhi oleh penerapan bauran pemasaran (x1) sebesar (0.572)2 atau sama dengan 32.71% dan bauran pemasaran (x1) manajemen hubungan pelanggan / crm (x2) loyalitas konsumen (y) ρyε1 = 0.602 ε1 ρyx1 = 0.572 r2yx1x2 = 0.637 ρyx2 = 0.352 r12 = 0.502 bauran pemasaran, .....(dian tauriana; andhika) 41 sisanya sebesar 67.29% nilai variabel bauran pemasaran ini dipengaruhi oleh variabel lainnya diluar penelitian ini. loyalitas konsumen pt serafim tours and travel (y) dipengaruhi oleh penerapan manajemen hubungan pelanggan/crm (x2) sebesar (0.352)2 atau sama dengan 12.39% dan sisanya sebesar 87.61% nilai variabel manajemen hubungan pelanggan/crm ini dipengaruhi oleh variabel lainnya diluar penelitian ini. simpulan penelitian ini membahas mengenai pengaruh bauran pemasaran dan manajemen hubungan pelanggan/crm terhadap loyalitas konsumen, yang dilakukan dengan studi kasus pada konsumen pt serafim tours and travel. loyalitas konsumen dapat tercapai melalui beberapa faktor penting, antara lain bauran pemasaran dan manajemen hubungan pelanggan/crm. pemasar jasa harus mengetahui betul faktor-faktor pendukung loyalitas konsumen. bauran pemasaran memiliki subvariabel yang sering disebut 4p (4p’s), yaitu tempat/place, harga/price, promosi/promotion, dan produk/product. manajemen hubungan pelanggan/crm memiliki subvariabel, yaitu technology based, brand based dan human based. jika bauran pemasaran dilakukan secara tepat dan manajemen hubungan pelanggan/crm dapat dilakukan dengan baik, maka loyalitas pelanggan (yang terdiri dar pembelian ulang, penolakan pesaing, tidak terpengaruh dari perusahan lain, merekomendasikan) dapat diraih. hal ini akan sangat bertolak belakang jika perusahaan tidak melakukan bauran pemasaran dan manajemen hubungan pelanggan/crm dengan baik. berdasarkan hasil penelitian yang berjudul “analisis pengaruh bauran pemasaran dan manajemen hubungan pelanggan/crm terhadap loyalitas konsumen pt serafim tours and travel” dapat ditarik kesimpulan di antaranya (1) variabel bauran pemasaran mempengaruhi loyalitas konsumen pt serafim tours and travel sebesar 32.71%; (2) sedangkan variabel manajemen hubungan pelanggan/crm juga dapat mempengaruhi loyalitas konsumen pt serafim tours and travel sebesar 12.39%; (3) variabel bauran pemasaran lebih mempengaruhi loyalitas konsumen pt serafim tours and travel. sedangkan pengaruh untuk kedua variabel secara bersamaan sebesar 63,7% dan sisanya (100% 63,7%) dipengaruhi oleh faktor-faktor lainnya; (4) variabel bauran pemasaran memiliki hubungan yang kuat dan searah terhadap variabel loyalitas konsumen, hal tersebut ditujukan dengan nilai korelasi sebesar 0.735; dan (5) variabel manajemen hubungan pelanggan/crm memiliki hubungan yang kuat dan searah terhadap variabel loyalitas konsumen. hal tersebut ditunjukkan dengan nilai korelasi sebesar 0.616. berdasarkan hasil kesimpulan di atas, maka saran yang dapat diberikan sebagai masukan adalah (1) perusahaan memberikan produk-produk travel (paket perjalanan wisata, tiket pesawat, dan sebagainya) yang dapat memenuhi harapan konsumen dengan terlebihi dahulu melakukan pendekatan serta pengembangan crm perusahaan; (2) melakukan pengembangan crm yang didukung oleh teknologi informasi yang lebih canggih; (3) lokasi yang lebih mudah dijangkau oleh konsumen; (4) memiliki ruang kantor bersuasana yang nyaman; (5) menyajikan promosi yang menarik kepada konsumen; (6) memberikan fasilitas call center atau perangkat aksesbilitas untuk menangani pertanyaan serta keluhan konsumen; (7) pengaplikasian human touch oleh karyawan (respon, cepat, tanggap, ramah, bertanggung jawab, dan sebagainya); dan (8) tradisi perusahaan “customer centric”. suatu penelitian tidak mungkin memberikan hasil secara sempurna, dikarenakan adanya beberapa keterbatasan dalam penulisan skripsi ini. adapun keterbatasan dalam penulisan skripsi ini adalah penelitian ini berfokus kepada pembahasan mengenai bauran pemasaran dan manajemen hubungan pelanggan/crm terhadap loyalitas konsumen sehingga tidak membahas bermacam-macam faktor pendukung loyalitas konsumen lainnya. 42 journal the winners, vol. 11 no. 1, maret 2010: 34-42 daftar pustaka alma, b. (2005). manajemen pemasaran dan pemasaran jasa, cetakan ketujuh, bandung: alfabeta. arikunto, s. (2004). prosedur penelitian suatu pendekatan praktek, jakarta: rineka cipta. buttle, f. (2006). customer relationship managemet concept and tools, australia: butterworthheinemann. durianto, d., sugiarto., dan budiman, l.j. (2004). brand equity ten: strategi memimpin pasar, jakarta: pt gramedia pustaka utama. griffin, j. (2005). customer loyalty: menumbuhkan dan mempertahankan kesetiaan pelanggan, jakarta: erlangga. kotler, p. (2005). manajemen pemasaran, edisi kesebelas, jilid pertama, jakarta: pt indeks. kotler, p dan amstrong, gary. (2003). dasar-dasar pemasaran, jilid pertama dan kedua, jakarta: pt indeks. kountur, a. (2007). metode penelitian, jakarta: ppm. kuncoro, e.a., dan riduwan. (2007). cara menggunakan dan memakai analisis jalur (path analysis), bandung: alfabeta. lupiyoadi, r., dan hamdani. (2006). manajemen pemasaran jasa, edisi kedua, jakarta: salemba empat. palmer, a. (2004). introduction to marketing: theory and practice, england: oxford university press. rangkuti, f. (2003). riset pemasaran, jakarta: pt gramedia pustaka utama. sarwono, j. (2007). analisis jalur untuk riset bisnis dengan spss, yogyakarta: andi. schiffman, l., dan kanuk, l.l. (2004). perilaku konsumen, jakarta: pt indeks group gramedia. sekaran, u. (2006). research methods for business, jilid pertama, edisi keempat, jakarta: salemba empat. sugiyono. (2006). metode penelitian bisnis, cetakan keenam, bandung: cv alfabeta. sugiyono. (2007). statistika untuk penelitian, cetakan kesebelas, bandung: cv alfabeta. tjiptono, f. (2008). strategi pemasaran, edisi ketiga, yogyakarta: penerbit andi. umar, h. (2003). metode penelitian bisnis, jakarta: pt gramedia pustaka utama. umar, h. (2005). riset pemasaran dan perilaku konsumen, jakarta: pt gramedia pustaka utama. microsoft word 07_mn_analysis of decision making process_kp.docx analysis of decision making process …… (mochamad sandy triady; ami fitri utami) 57  analysis of decision making process in moneyball: the art of winning an unfair game mochamad sandy triady1; ami fitri utami2 1, 2management department, school of business management, binus university jln. k.h. syahdan no. 9, palmerah, jakarta barat 11480 sandy.triady@binus.ac.id, amifitriutami@binus.ac.id abstract billy beanes’s success in using data-driven decision making in baseball industry is wonderfully written by michael lewis in moneyball. as a general manager in baseball team that were in the bottom position of the league from the financial side to acquire the players, beane, along with his partner, explored the use of data in choosing the team’s player. they figured out how to determine the worth of every player.the process was not smooth, due to the condition of baseball industry that was not common with using advanced statistic in acquiring players. many teams still use the old paradigm that rely on experts’ judgments, intuition, or experience in decision making process. moneyball approached that using data-driven decision making gave excellent result for beane’s team. the team won 20 gamessequently in the 2002 season and also spent the lowest cost per win than other teams.this paper attempts to review the principles of moneyball – the art of winning an unfair game as a process of decision making and gives what we can learn from the story in order to win the games, the unfair games. keywords: decision making, data management, sport industry abstrak buku moneyball yang ditulis oleh michael lewis menggambarkan bagaimana kesuksesan billy beanes seorang general manager suatu tim dalam menggunakan proses pengambilan keputusan berbasiskan data di dalam industri baseball di amerika. dalam usahanya untuk memenangkan posisi terbaik di dalam liga, beanes dan rekannya menggunakan data sebagai dasar pertimbangan pemilihan pemain. karena proses pengambilan keputusan yang tidak biasa, beanes mendapat tentangan dari banyak pihak dalam industry baseball. walaupun begitu, pada tahun 2002 tim yang ditangani oleh beanes memenangkan 20 pertandingan secara berturut-turut. artikel ini bertujuan untuk mengkaji ulang prinsip dari moneyball yang digunakan oleh beanes dan rekannya dalam melakukan pengambilan keputusan. kata kunci: pengambilan keputusan, manajemen data, industri olahraga 58 journal the winners, vol. 16 no. 1, march 2015: 57-63  introduction moneyball is the best –selling book written by michael lewis. it is based on true story about billy beane, the baseball team general manager. his team, oakland athletics, was one of the poorest teams in baseball league in usa.in 2002 season, the oakland athletics had payrolls of $40 million, while the new york yankees, the richest team, had payroll of $126 million. in baseball industry, there is a huge gap between the rich and poor team than other professional sportor sport industry (lewis, 2003). this gap made a significant difference when a team wants to buy players, only the rich team can afford the best players. when the rich teams can afford the best players, they will have best formation that can give high opportunity to win the games. how about the poor teams? they have to think hard in spending their budget. as the general manager, billy beane suffered from crisis in his team. the performance was getting worse and billy tried to find a way to improve the performance by re-formulating the team formation. started at the opening season, when every team has to decide about their players; buying new player, selling existing players, or trading-off players with other teams. the situation became harderwhen there was a tight limitation, money. in 2002, billy beane realized that there was something wrong in process of acquiring players. he needed better decision making process when the team wants to acquire players. at the time, most of the baseball team used quite same decision making process, the process of deciding which player to hire is based on experts’ judgments, i.e.; coach, talent scout, retired player, etc. billy beane came up with radical action; he changed the method of acquiring talents, no more decision based on experts’ judgments, experiences, or intuition. he, along with his assistant, paul depodesta, used statistical data to analyze and gave value on the players which he wanted to choose for the team. the results was beyond expectation, the team he created by the new method could give big win, even though the team consisted of low-paid players. nowadays, moneyball is no longer a success story about manager of baseball team, many practitioners, even scholars try to know more about the concept of moneyball and implement it outside sport industry. overall, the underlying point of moneyball story is about decision making; how did one of the poorest teams in baseball win so many games? how did they decide which player they buy, sell, or trade-off?this paper attempts to review the principles of moneyball – the art of winning an unfair game as process ofdecision making and gives what we can learn from the story in order to win the games, the unfair games. baseball is one of the biggest sport industries, especially in u.s. this game’s object is to hit a runs, and those who have the most runs of all nine periods called as winner. a team scored a run when a player hits the ball and then running to a base safely, and continuing to counter clockwise as the next base and get back to original base. this game also defined by outs and innings not by time. (blackburn & valerdi, 2007). there is a general manager behind every team, the tasks of general manager are composingstrategies, evaluating players as the talent and assembling a successful team. the general managers are attempted to seek for methods to maintain and gain their talent better than their rival team within their financial capability, this condition almost similar with an organization which desired to exceed their competitors. (blackburn & valerdi, 2007). salary limit has no boundary in the players market in baseball industy, every team can buy players they want with no limitation. teams with huge funding will easily buy good and high quality players, hence will win more games. cullen, mayer & lattesa (2009) explained about the two paradigms of baseball; the traditional paradigm and the new one. analysis of decision making process …… (mochamad sandy triady; ami fitri utami) 59  there are four beliefs which envision the traditional paradigm . first, the talent of a player is usually appraised by asking the talent seeker look at the individual directly in person. this is happened because it is believed that the talent seeker have the ability to judge whether the talent is potential or not. second,thecollected statistics are more than adequate.the statistics are used as complementary not main point in decision making process. third, in game situation, decisions should be made according to “the book”—an unwritten compilation of baseball wisdom learned from insider experiences.whether these customs stand up to empirical scrutiny is of no concern. fourth, beyond “the book”, managerial decision can be determined through intuition. actually, baseball industry has collected many data related to games and players. however, most of the officials resisted the attempts to determine the statistical evidence as their decision’s guidance. through years, baseball was viewed for a sport which guided by wise traditios and expertise. however, there is a new paradigm aroused in which embraced science as the part of the guidance for the game. the major figure within this paradigm has been bill james. bill james gave three big contributions in baseball decision making process. firstly, saber metrics which is the analysis using objective evidence in baseball, this method mostly use statistic measure in the game activity. secondly, sociology of the interesting; bill james’s strategy to embraced the old wisdom and show that those wisdom are incorrect. finally, baseball abstract: featuring 18 categories of statistical information that you just cannot find anywhere else; this information shows that james’s analyses proved that the traditional and old wisdom has led some of the decision into an irrational practices in the industry. in fact, what bill james found is not easily accepted by baseball officials since james did not have any background or experience in baseball as a player, coach, or expert. moneyball tells the journey of billy beane, a former major league baseball player who turned into a team’s general manager. beane faced problem with his team due to financial constraint. a problem appeared in term of selecting players, who will be kept, who will be sold, and who will be approached. beane had to face the same problem over years; he hated the fact that so many teams would spend so much money on potential or high-quality players. he knew that his team only had small budget and how little bargaining power he had, but he understands how he had to find a way to win. this is why it is called unfair games, because the players (baseball teams) in same competition have different resource (budget).most other baseball teams proclaimed that to compete with teams like new york yankees is very difficult because of how much money that the team possess. however, beane called that was nonsense. if this were true, than the team with the most money would always win but in fact there are teams which spend much money and still get many lose. in this case beane challenge himself, how do his team win with so little money? (hickman, 2010). from that moment, beane decided to conduct an experiment in his new paradigm. what would happen if the team’s decisions were based on scientific data? by having paul depodesta, young harvard graduate, who surround himself with numbers and statistics, beane started to change process of decision making in scouting players. using sabermetric approach, he used data-driven decision making in scouting players, no longer using experts’judgments as main consideration. at first, what beane prepared was not accepted by team’s scouts, advisors, and managerial because of the way he did was out of common practices in baseball industry at the time.due to financial constraint, beane successfully found undervalued players that can play for his team with low salary but actually have good-hidden quality as a result of data calculation using formula. by this way, he did not need to compete with rich teams to get the players. the result of beane works was amazing; his team won 20 games sequent in the 2002 season. using a formula, his team was able to understand what type of players to select in order to hits as many runs as they needed based on data from the years before (hickman, 2010). the team also spent the lowest cost per win than other teams. all of the excellent result came from data-driven decision making. 60 journal the winners, vol. 16 no. 1, march 2015: 57-63  table 1thecost of wins major league baseball teams, 1997-2005 source: cullen, f., myer, a., and latessa, e. (2009) method from the story, this paper will focus on reviewing the concept of moneyball approach by billy beane. it will focus on three points; defining problem, data-driven decision making, and data-driven vs intuition. in the other hands, since this paper’s objective is to reviewing the moneyball principles the methodology being used is only reviewing the principles through lewis’s book and relating it with another related literatures. results and discussion in the book written about a meeting when billy beane with some talent scouts talking about their players, many star player left the team due to higher salary from other team. this condition was seen as a problem because without any star player, the team did not have a chance to win a game. billy beane explained to talent scouts that they focused on the wrong problem. beane said, “you’re focusing on the wrong problem! the reason why the previous star player left was because we couldn’t afford him and what you are telling me now is that we need to go and build a new team with another star player we can’t afford?” “the real problem is that we are a much smaller ball club with limited resources; therefore, we have to build a team of good players that we can work with.”however, the team didn’t agree with how he analysis of decision making process …… (mochamad sandy triady; ami fitri utami) 61  sees the problem. from this situation, defining problem is important thing. in this case, laziness is the greatest danger in formulating a decision problem. it's easy to state the problem in the most obvious way, in the way that we usually recovered the problem, but the easy way isn't necessarily the best way. thus, we need to get out of the box and be creative to make sure we found the problem right. (hammond, kenney, & raiffa, 1999)in this case, beane succesfully turned problem into opportunity. hammond, kenney, and raiffa (1999) stated that “no matter how bad a situation seems, ask yourself: what can i gain from this situation? what are the opportunities here?” the morale of the moneyball story is that the decision based on the data driven has better outcomes than those with conventional wisdom. there is research that proves that companies that rely heavily on data analysis are likely to outperform others (riedel, 2012). in fact, data itself has not any ability to change anything. from this case, in order to be impactful data need to be analyzed properly thus it can gain the competitiveness and even market share (brynjolfsson, 2010). like what billy beane did, he realized that it was possible to gather data from baseball industry. many data are collected since years ago, but there was no good practice in using those kinds of data. started by using saber rnetric approach and having partner in statistics to elaborate data, beane successfully made excellent result. despite the fact that data-driven decision making positively impacts the bottom line, few companies have switched to this form of decision making. most companies still base decisions on management experience and intuition. most companies use hippo-driven decision making. hippo stands for “the highest paid person's opinion”. this is like what happen in billy beane’s team, most of decision making process was based on experience and intuition. actually, this is not totally wrong, but the problem is, the team members trapped in decision trap; estimating and forecasting trap (hammond, et al 2003), when they are being overly influenced by vivid memories when estimating about the players’performance. there is a problem in data-driven decision making which called as dirty-data curse. in some organizations, the problem may not be about the lack of data but to understand or to know which data are clean and trustworthy is the huge challenge. (harris, 2007). in this moneyball approach, it seems that data-driven is the power of decision making over non data-driven, i.e. intuition. data-driven decision making became the first consideration in decision making. is intuition totally useless in decision making? does intuition lead to wrong decision making? kahneman and tversky (1982)depict intuitive judgments as the absence of analytical methods usage in reasoning some matters. unfortunately, this method often led into negative outcomes especially when false assumptions or logic is being used as the basis of reasoning (sadler-smith & sparrow, 2007). khatru and ng explained that intuition is part of all decision, even those based on the most real facts. thus, in summary intuition does not include as irrational process. this is happened because intuition comes up based on a person’s understanding of the situation which resulted from his or her experience. in the other hands, there are some extend situation where intuitive approach can help to choose the decision, such as: (1) when the condition demand a rapid response thus fully rational analysis approach could not be executed. (2) when there is a change in a fast pace that should be overcome. (3) when the problem that the company faced is unstructured. (4) when the rules are hard to comprehend or ambiguous. (5) when we deal with ambiguous yet conflicting information (6) there is no previous example. 62 journal the winners, vol. 16 no. 1, march 2015: 57-63  in addition, decision makers have various kinds of situations need to be faced, these situations may have different scale availability of data. some situations might have reliable and clear data, while some others might have unreliable, dirty and even scattered information to be used. however, even though the decision maker unable to articulate the pattern, most of them are still able to use their experience and knowledge (sutton, 2009). from this explanation, actually it is quite clear that in baseball decision making, the use of data driven decision making is needed.because of the availability of reliable and accurate data. but it is not about data versus intuition; but it becomes data with intuition. from moneyball approach, this paper summarizes some lesson learned related to decision making process. from the moneyball, we learn that right defining problem will give accurate answer. billy beane kept saying “we are not asking the right questions!”, because in fact, it is true, we have not tried that hard to find the real problem, not only the seen-thing but also the hidden-thing. by keep asking ourselves, it is a way to build creative thinking in order to find the right questions or problems. asking different questions is on way to get different answers, and different questions can lead to different results, the better one. billy beane realized that his team’s money is not much as their rivals. he thought that if they did what their rival did, they would lose every time, because they were doing it with three times more money than they were. the lesson learned from this decision is if we are doing what everyone else doing, we will get what everyone else is getting. beane said, “if they zig, i zag.” i this case, even if the risk were still occurred but when it is managed through a deep data analysis it will increase the robustness of the decision making. we can assume that billy beane is generally patient, however this man has no hesitation to create a huge move when he feels it’s time for it. it is in line with hammond, et al (1999), when explaining wise decision maker regarding developing plan attack; we have to be willing to stop, reassess, and reformulate our plan. conclusion moneyball proofed that data-driven decision making gives good performance and result. to do data-driven decision making, the important thing to be concerned about is the availability of data and there is no dirty data. data-driven decision making is not the best over intuition, but both of them will be a good combination in order to get robust decision making, because intuition is part of all decision, even those based on the most concrete, hard facts. in practice, the use of data-driven decision making should be implemented more than now. all organizations have to start to collect and keep their data to be used as a based in decision making process. from moneyball approaches, we get lesson learned related to decision making process, they are: (1) redefining problem, (2) if they zig, i zag, (3) know when to quit, wait and dynamic. the learned lesson will sharpen the process of decision making in order to get robust and excellent result, like the big win of the oakland atheletics in baseball league. analysis of decision making process …… (mochamad sandy triady; ami fitri utami) 63  references blackburn, c., valerdim, r. (2007). measuring system engineering success: insights from baseball.working paper series.esd-wpp2007-26. brynjolfsson, e. (2010). how does data-driven decision making affect firm productivity and ceo pay?. wharton, school, university of pennsylvania. cullen, f., myer, a., & latessa, e. (2009). eight lessons form moneyball: the high cost of ignoring evidence-based corrections. ohio: routledge. issn: 1556-4886 hammond, j.s., kenney, r.l., & raiffa, h. (1999).smart choices: a practical guide to making better life decisions. boston: harvard business. hammond, j. s., keeney, r. l., & raiffa, h. (2003).the hidden traps in decision making.harvard business. hickman, a. (2010). review of moneyball. college of business at southeastern louisiana university. available at www.bukisa.com (accessed 10 november 2012) kahneman, d.,tversky, a. (1982). on the study of statistical intuitions. cognition, 11: 123-141. khatri, n., ng, h.(2000).role of intuition in strategic decision making. mark diamond research fund. new york. lewis, m. (2003).moneyball. new york: norton company. riedel, a.j. (2012).what the movie moneyball teaches us about data-driven decision making. available at www.4rmg.com(accessed 10 november 2012) sadler-smith, e, and sparrow, p. 2007. intuition in organizational decision making. lancester university management school, centre for performance-led hr. sutton, b. (2009, 1 nov).intuition vs. data-driven decision-making: some rough ideas. retrieved from http://bobsutton.typepad.com/my_weblog/2009/11/intuition-vs-datadrivendecisionmaking-some-rough-ideas.html microsoft word 06_budiman_setting.doc customer relationship .....(budiman; irnita ajeng yuli muryati) 151 customer relationship management (crm) dan nilai pelanggan terhadap loyalitas pelanggan budiman1; irnita ajeng yuli muryati2 1, 2 jurusan manajemen, fakultas ekonomi dan bisnis, universitas bina nusantara, jln. k.h. syahdan no. 9, palmerah, jakarta barat 11480 budiman_phd@yahoo.com abstract the tourism world today gains a lot of attention and spotlight is greatly increased in many countries and in different places in the world. it is proven by the increasing number of tourist resorts built, due to visitors using the facility. the purpose of this study is to determine whether there is influence of customer relationship management (crm) on customer value at hotel crystal, to see if there is influence of crm on customer loyalty at hotel kristal, and to find out whether there is influence of customer value on customer loyalty at hotel kristal. the research is descriptive, while the research method used is survey of 100 customers in hotel kristal, south jakarta. path analyze is used to determine the influence between variables. result indicates that the crm provides a positive and significant influence on the customer value at hotel kristal. meanwhile, crm and customer value provide a positive and significant influence at hotel kristal subsequently affecting customer loyalty hotel kristal. keywords: customer relationship management (crm), customer value, customer loyalty abstrak dunia kepariwisataan dewasa ini sedang mendapat perhatian dan sorotan yang sangat meningkat di berbagai negara maupun di berbagai dunia. hal ini terbukti dengan banyaknya dibangun objek-objek wisata sehingga banyak para pengunjung yang ingin menggunakan fasilitas tersebut. tujuan dari penelitian ini adalah untuk mengetahui apakah ada pengaruh customer relationship management (crm) terhadap nilai pelanggan pada hotel kristal, mengetahui apakah ada pengaruh (crm) terhadap loyalitas pelanggan pada hotel kristal, dan mengetahui apakah ada pengaruh nilai pelanggan terhadap loyalitas pelanggan pada hotel kristal. penelitian yang dilakukan bersifat deskriptif, sedangkan metode penelitian yang digunakan yaitu dengan metode survei terhadap 100 pelanggan hotel kristal jakarta selatan. untuk menganalisisnya digunakan analisis jalur untuk mengetahui pengaruh antar variabel. hasil penelitian menunjukkan bahwa crm memberikan pengaruh yang positif dan signifikan terhadap nilai pelanggan hotel kristal, sedangkan crm dan nilai pelanggan memberikan pengaruh yang positif dan signifikan terhadap hotel kristal yang berdampak pada loyalitas pelanggan hotel kristal. kata kunci: customer relationship management (crm), nilai pelanggan, loyalitas pelanggan 152 journal the winners, vol. 11 no. 2, september 2010: 151-159  pendahuluan crm adalah suatu cara untuk melakukan analisis perilaku konsumen atau pelanggan jasa. dari analisis ini, akhirnya perusahaan bisa mengambil cara melayani pelanggannya secara lebih personal sehingga efeknya pelanggan menjadi loyal kepada kita. target utama crm memang bukan customer satisfaction, tetapi lebih kepada customer loyality. pelanggan tidak hanya puas sekali menggunakan produk atau jasa kita, tetapi juga akan selalu terus menggunakannya. untuk membantu pihak hotel dalam melaksanakan program crm, terdiri dari continuity marketing, one-to-one marketing serta partnering program (sheth, et al., 2002:11). dewasa ini, hotel sangat dirasakan kebutuhannya, terutama untuk kepentingan pekerjaan dan kegiatan rekreasi. namun demikian, keberadaan suatu hotel sebenarnya tidak hanya dilihat dalam keterkaitannya dengan sektor pariwisata semata-mata, lebih dari pada itu eksistensi hotel lebih luas dari sekedar menjadi tempat menginap wisatawan. saat ini hotel juga menjadi tempat diadakannya berbagai pertemuan berskala besar seperti seminar, lokakarya, diskusi panel dan sebagainya, dan lainlain. salah satu tempat tersebut adalah hotel kristal yang berada di daerah jakarta selatan yang memliki banyak sekali fasilitas-fasilitas yang ditawarkan seperti hotel kristal memiliki 320 suites, di antaranya memiliki 3 tipe seperti one bedroom suites, two bedroom suites, three bedroom suites, dan juga memiliki 8 penthouses. hotel kristal juga memiliki beberbagai macam fasilitas yang ada seperti kafe pinang (international restaurant), satu lagi bar, deli delima, 24 hour room service, laguna pool bar, loby lounge, banquet & meeting rooms, life spa-fitness center, sauna, dan massage. oleh karena itu, penting bagi perusahaan untuk menciptakan nilai superior bagi para pelanggan. dalam industri perhotelan, penciptaan nilai superior ini dapat dilakukan dengan menyediakan kamar hotel beserta seluruh fasilitasnya dengan baik melalui pemberian pelayanan yang superior seperti karyawan yang tangkas, ramah, dan penuh perhatian. berdasarkan uraian dari latar belakang di atas, banyak sekali pertanyaan yang mungkin timbul. akan tetapi, dalam pembahasan selanjutnya penulis membatasi hanya pada beberapa permasalahan yang dapat dirumuskan sebagai berikut, yaitu (1) seberapa besar customer relationship management (crm) yang dilakukan hotel kristal berpengaruh terhadap nilai pelanggan?, dan (2) seberapa besar customer relationship management (crm) dan nilai pelanggan berpengaruh terhadap loyalitas pelanggan hotel kristal?. dari rumusan masalah yang telah dijabarkan di atas, dapat ditetapkan bahwa tujuan dari penelitian ini adalah (1) untuk mengetahui seberapa besar pengaruh customer relationship management (crm) terhadap nilai pelanggan, dan (2) untuk mengetahui seberapa besar pengaruh customer relationship management (crm) dan nilai pelanggan terhadap loyalitas pelanggan. menurut turban (2004:148), crm adalah suatu pendekatan pelayanan kepada konsumen yang berfokus pada pembangunan jangka panjang dan hubungan konsumen yang berkelanjutan yang dapat memberikan nilai tambah bagi pelanggan maupun perusahaan. crm merupakan singkatan dari customer relationship management, yaitu suatu strategi yang terpadu dan proses mendapatkan, mempertahankan, dan berteman dengan pelanggan. terdapat 3 tipe program crm, yaitu continuity marketing, one-to-one marketing, dan partnering pogram (seth, et al., 2000:6). perusahaan yang ideal untuk melakukan crm adalah perusahaan yang ingin mengoptimalkan keuntungan dengan cara menjalin hubungan lebih dekat (customer intimacy) dan harmonis dengan pelanggannya. dengan demikian, nilai tambah crm dapat dioptimalkan dalam mengefektifkan dan mengefisiensikan biaya untuk mengakuisisi pelanggan baru, atau mempertahankan pelanggan lama sehingga biaya-biaya dan usaha-usaha pemasaran menjadi tidak sia-sia dan keuntungan dapat ditingkatkan lebih banyak lagi. menurut kotler (2009:148), manajemen hubungan pelanggan (crm – customer relationship management) adalah proses mengelola informasi rinci tentang pelanggan perorangan dan semua “titik kontak” pelanggan secara seksama untuk memaksimalkan loyalitas pelanggan. titik kontak pelanggan adalah semua kejadian di mana pelanggan menghadapi merek dan customer relationship .....(budiman; irnita ajeng yuli muryati) 153 produk – dari pengalaman aktual ke komunikasi pribadi atau masal hingga observasi biasa. untuk hotel, titik kontak meliputi reservasi, check-in dan chek-out, program frekuensi-tinggal, layanan kamar, layanan bisnis, fasilitas olahraga, layanan laundry, restoran, dan bar. pada dasarnya, nilai pelanggan didefinisikan sebagai persepsi pembeli tentang nilai yang mewakili suatu pertukaran antara kualitas atau keuntungan yang mereka rasakan dalam suatu produk/jasa dengan pengorbanan yang mereka rasakan dengan membayar harga. nilai pelanggan kini merupakan faktor yang paling sukses karena nilai pelanggan memiliki suatu dampak yang berpengaruh nyata pada niat prilaku dari pelanggan. karena memiliki suatu peranan penting dalam menyediakan manajer dengan pengertian bagaimana mencapai atas kinerja crm. jadi, nilai pelanggan memiliki kaitan yang cukup erat saat ini dengan crm (yonggui wang, et al., journal managing service quality, 2004, 14, 2/3, abi/inform global). perval (perceived value scale) merupakan suatu pengukuran dari nilai yang diterima yang diaplikasikan untuk mengukur produk tangible. wahyuningsih (2004:8) mengembangkan suatu model mengenai komponen dari nilai pelanggan yang terdiri dari manfaat dan korbanan. pembentukan loyalitas dapat dilakukan dengan penciptaan nilai yang diterima pelanggan merupakan selisih antara evaluasi calon pelanggan atas semua manfaat serta semua biaya tawaran tertentu dan alternatif-alternatif lain yang dipikirkan kotler (2007:173). pelanggan yang loyal merupakan aset penting bagi perusahaan. hal ini dapat dilihat dari karakteristik yang dimilikinya, sebagaimana diungkapkan oleh griffin (2005:31), pelanggan yang loyal memiliki karakteristik sebagai berikut. pertama, melakukan pembelian berulang secara teratur (repeat purchase). merupakan pelanggan yang telah melakukan pembelian suatu produk atau jasa sebanyak 2 kali atau lebih. kedua, membeli antar lini produk atau jasa (reward), yaitu membeli semua barang atau jasa yang ditawarkan dan mereka butuhkan. mereka membeli secara teratur, hubungan dengan jenis pelanggan ini sudah kuat dan berlangsung lama serta membuat mereka tidak terpengaruh oleh produk pesaing. ketiga, mereferensikan kepada orang lain (recommendation). keempat, yaitu membeli barang atau jasa yang ditawarkan dan yang mereka butuhkan serta melakukan pembelian secara teratur. selain itu, mereka mendorong orang lain agar membeli barang atau jasa perusahaan tersebut. secara tidak langsung, mereka telah melakukan pemasaran untuk perusahaan dan membawa konsumen kepada perusahaan. kelima, menunjukkan kekebalan terhadap tarikan dari pesaing, atau dengan kata lain tidak mudah terpengaruh oleh tarikan persaing (refuse). metode penelitian penelitian ini merupakan penelitian deskriptif dan penelitian asosiatif. penelitian deskriptif dimaksudkan untuk mendifinisikan berbagai kriteria serta mendefinisikan nilai-nilai variabel-variabel yang diteliti. penelitian asosiatif di sini lebih kepada hubungan kausal, di mana variabel independen mempengaruhi variabel dependen. tabel 1 desain penelitian 154 journal the winners, vol. 11 no. 2, september 2010: 151-159  keterangan: t-1 = mengetahui dan menganalisis kontribusi customer relationship management (crm) secara simultan terhadap nilai pelanggan. t-2 = mengetahui dan menganalisis kontribusi customer relationship management (crm) dan nilai pelanggan secara simultan terhadap loyalitas pelanggan. data yang digunakan adalah data primer (data lapangan). data primer diperoleh dengan wawancara dan pertanyaan (kuesioner) yang diberikan kepada responden yang mengambil bagian. tabel 2 jenis dan sumber data penelitian tujuan data jenis data sumber data t-1 pengaruh customer relationship management secara simultan terhadap nilai pelanggan. kualitatif kuesioner t-2 pengaruh customer relationship management dan nilai pelanggan secara simultan terhadap loyalitas pelanggan kualitatif kuesioner dalam penilitian ini, yang dipakai adalah random sampling, yaitu cara pengambilan sampel dari anggota populasi dengan menggunakan acak tanpa memperhatikan strata (tingkatan) dalam anggota populasi tersebut. sampel dalam penelitian ini adalah kustomer yang menggunakan jasa hotel kristal. untuk dapat mengetahui jumlah ukuran sampel, di mana besar populasi sampel tidak diketahui secara pasti, maka di dalam penarikan sampel penelitian ini, yaitu menggunakan random sampling (sampel secara acak). berikut ini asumsi yang digunakan dalam penelitian: n n = n . d2 + 1 di mana: n = jumlah sampel n = jumlah populasi = ±5000 responden d2 = presisi (ditetapkan 10% dengan tingkat kepercayaan 95%) berdasarkan rumus tersebut diperoleh jumlah sampel sebagai berikut: n 5000 5000 n = = = = 98,03 = 98 responden n . d2 + 1 (5000).0,12 +1 51 dengan demikian, sampel yang digunakan adalah sebesar 98 responden. dalam penelitian ini, sampel dibulatkan menjadi 100 responden (riduwan dan engkos achmad kuncoro, 2007: 46). metode analisis yang dipakai adalah rumus cronbach alpha, yang dapat digunakan untuk mencari reliabilitas instrumen yang skornya merupakan rentangan antara beberapa nilai atau berbentuk skala. selanjutnya, varians butir dan varians total tersebut dimasukkan ke dalam rumus cronbach alpha. yakni: ⎥ ⎥ ⎦ ⎤ ⎢ ⎢ ⎣ ⎡ −⎥ ⎦ ⎤ ⎢ ⎣ ⎡ − = ∑ 2 2 1 )1( t b k k r σ σ customer relationship .....(budiman; irnita ajeng yuli muryati) 155 keterangan: r = koefisien reliabilitas instrumen (cronbrach alpha) k = banyaknya butir pertanyaan atau banyaknya soal ∑ 2bσ = total varians butir 2 tσ = total varians dasar pengambilan keputusannya, yaitu: jika r alpha positif dan r alpha > r tabel, maka butir atau variabel tersebut reliabel; jika r alpha positif dan r alpha < r tabel, maka butir atau variabel tersebut tidak reliabel; jika r alpha > r tabel tapi bertanda negatif, maka butir atau variabel tersebut tidak reliabel. berdasarkan riduwan dan engkos achmad kuncoro (2008:61), untuk mengetahui hubungan antara variabel x dengan y, x dengan z, y dengan z, digunakan teknik korelasi. analisis korelasi yang digunakan adalah pearson product moment (ppm), dengan rumus analisis korelasi pearson product moment: ( ){ }{ }2222 )(... )).(()( yynxxn yxxyn r σ−σς−σ σς−σ = korelasi ppm dilambangkan (r) dengan ketentuan nilai r tidak lebih dari harga (-1 ≤ r ≤ +1). apabila nilai r = -1 artinya korelasinya negatif sempurna; r = 0 artinya tidak ada korelasi; dan r = 1 berarti korelasinya sangat kuat. sedangkan arti harga r akan dikonsultasikan dengan tabel interpretasi nilai r sebagai berikut. hasil dan pembahasan untuk mengetahui hubungan antara variabel customer relationship management (x) dengan variabel nilai pelanggan (y), variabel customer relationship management (x) dengan variabel loyalitas pelanggan (z), dan variabel nilai pelanggan (y) dengan variabel loyalitas pelanggan (z), dilakukan dengan menggunakan program spss 16. hasil pengolahan korelasi dapat dilihat di dalam tabel berikut: table 3 correlations crm nilai_pelanggan loyalitas_pelanggan crm pearson correlation 1 .634** .444** sig. (2-tailed) .000 .000 n 100 100 100 nilai_pelanggan pearson correlation .634** 1 .411** sig. (2-tailed) .000 .000 n 100 100 100 loyalitas_pelanggan pearson correlation .444** .411** 1 sig. (2-tailed) .000 .000 n 100 100 100 **. correlation is significant at the 0.01 level (2-tailed). sumber: hasil pengolahan data spss 16 156 journal the winners, vol. 11 no. 2, september 2010: 151-159  analisis jalur ini akan digunakan dalam menguji besarnya sumbangan (kontribusi) yang ditunjukkan oleh koefisien jalur pada setiap diagram jalur dari hubungan klausal antara variabel x (customer relationship management) terhadap variabel y (nilai pelanggan) serta dampaknya pada variabel z (loyalitas pelanggan). kemudian, dalam perhitungan digunakan software dengan program spss for windows version 16. pengujian sub-struktur 1 gambar 1 sub-struktur 1 beserta koefisien jalur y = ρyx + ρyε1 y = 0.635x + 0.772ε1 dari persamaan struktural sub-struktur 1, ini dapat diartikan bahwa: penerapan variabel customer relationship management (x) mempengaruhi nilai pelanggan (y) secara simultan sebesar 40.3% dan sisanya sebesar 59.7%, variabel nilai pelanggan (y) dipengaruhi oleh variabel lainnya di luar penelitian ini. pengaruh customer relationship management (x) secara langsung terhadap nilai pelanggan (y) adalah sebesar 0.635. pengujian sub-struktur 2 gambar 2 sub-struktur 2 beserta koefisien jalur sumber: hasil pengolahan data persamaan struktural untuk sub-struktur 2 adalah sebagai berikut: z = ρzxx + ρzyy + ε2 z = 0.592x + 0.218y + 0.742ε2 r2 = 0.449 dengan ini, berarti analisis sub-struktur 1 dan sub-struktur 2 telah selesai, maka dapat digambarkan struktur hubungan kausal secara lengkap, yakni hubungan antara variabel x, y, dan z yang memiliki persamaan struktural: customer relationship .....(budiman; irnita ajeng yuli muryati) 157 persamaan sub-struktur : y = 0.635x + 0.772ε1 persamaan sub-struktur 2: z = 0.592x + 0.218y + 0.742ε2 gambar 3 struktur hubungan x, y ,dan z beserta koefisien jalur sumber: hasil pengolahan data sehingga dari gambar 3, diketahui bahwa seluruh koefisien jalur dari hubungan, maka diketahui pula pengaruh langsung, pengaruh tidak langsung serta pengaruh total dari tiap-tiap variabel yang mempengaruhi variabel tertentu. hasilnya dirangkum dalam tabel di bawah ini: tabel 4 rangkuman pengaruh variabel customer relationship management (x), nilai pelanggan (y) secara signifikan terhadap loyalitas pelanggan (z) variabel koefisien jalur pengaruh langsung tidak langsung (melalui y) total x terhadap y 0.635 0.635 0.635 x terhadap z 0.592 0.592 0.635 x 0.218 =0.13843 0.73043 y terhadap z 0.218 0.218 0.218 ε1 0.772 1-0.772 2=0.404 0.404 ε2 0.742 1-0.742 2=0.449 0.449 sumber: hasil pengolahan data berdasarkan dari hasil penelitian di atas, berikut ini akan dikemukakan beberapa implikasi yang dianggap relevan dengan penelitian. implikasi tersebut antara lain sebagai berikut. pertama, hasil pengolahan dan analisis data menunjukkan bahwa customer relationship management (x) memberikan pengaruh yang signifikan terhadap nilai pelanggan (y) sebesar 40.32%. pengaruh ini cukup besar, namun diperlukannya upaya-upaya untuk menciptakan customer relationship management (crm) yang lebih efiktif yang dapat mempengaruhi nilai pelanggan dengan cara lebih memperbaharui ataupun menerapkan customer relarionship management yang kuat karena akan dapat mampu mendukung unit bisnis lainnya untuk meningkatkan profit agar lebih tercapai. kedua, hasil pengolahan dan analisis data menunjukkan bahwa customer relationship management (x) memberikan pengaruh langsung yang signifikan terhadap loyalitas pelanggan (z) sebesar 35.04%. pengaruh ini cukup besar, namun diperlukannya upaya-upaya untuk lebih 158 journal the winners, vol. 11 no. 2, september 2010: 151-159  mengembangkan sisitem crm, agar hotel kristal dapat mengetahui bagaimana langkah-langkah atau cara-cara melayani konsumen, agar konsumen merasa puas sehingga keuntungan yang diperoleh semakin meningkat karena apabila konsumen merasa puas dengan pelayanan kita, maka secara otomatis konsumen tersebut akan menjadi lebih loyal. ketiga, hasil pengolahan dan analisis data menunjukkan bahwa customer relationship management (x) memberikan pengaruh secara tidak langsung yang signifikan terhadap loyalitas pelanggan (z) sebesar 53.35%, yaitu pengaruh yang melalui nilai pelanggan (y). jadi secara tidak langsung hotel kristal harus lebih mengembangkan customer relationship management (crm) yang dapat memiliki nilai sehingga akan dapat berpengaruh terhadap loyalitas pelanggan. keempat, hasil pengolahan dan analisis data menunjukkan bahwa nilai pelanggan (y) memberikan pengaruh yang signifikan terhadap loyalitas pelanggan (z) sebesar 4.75%. pengaruh ini dirasa kecil, hasil dari temuan penelitian ini diperlukan upaya-upaya untuk membentuk nilai pelanggan yang baik bagi para kustomer dengan cara (1) memberikan berbagai manfaat untuk para kustomer, misalnya manfaat dari segi pelayanan, produk, maupun dari segi citra hotel, dan (2) memberikan kontribusi dari karyawan yang berupa tenaga, layanan, keahlian, ide, dan inovasi. simpulan berdasarkan hasil analisis dan pembahasan pada bab sebelumnya, maka kesimpulan yang dapat diambil berdasarkan analisis data dalam penelitian ini adalah sebagai berikut. pertama, customer relationship management (x) memiliki pengaruh yang positif dan signifikan terhadap tinggi rendahnya nilai pelanggan (y). besarnya kontribusi customer relationship management (x), yaitu sebesar 40.32%. hal ini berarti menunjukkan bahwa hasil dari penelitian ini dapat disimpulkan adanya pengaruh atau kontribusi antara variable customer relationship management (x) yang signifikan terhadap nilai pelanggan (y) pada hotel kristal. kedua, customer relationship management (x) memiliki pengaruh yang positif dan signifikan terhadap tinggi rendahnya loyalitas pelanggan (z). besarnya kontribusi adalah sebesar 35.04% dan besarnya pengaruh customer relationship management secara tidak langsung, yaitu pengaruh yang melalui variabel nilai pelanggan (y) terhadap loyalitas pelanggan, yaitu sebesar 53.35%. hal ini berarti menunjukkan bahwa hasil dari penelitian ini dapat disimpulkan adanya pengaruh atau kontribusi antara variabel customer relationship management yang signifikan terhadap loyalitas pelanggan pada hotel kristal. ketiga, nilai pelanggan (y) memiliki pengaruh yang positif dan signifikan terhadap tinggi rendahnya loyalitas pelanggan (z). besarnya kontribusi nilai pelanggan (y), yaitu sebesar 4.75%. hal ini berarti menunjukkan bahwa hasil dari penelitian ini dapat disimpulkan adanya pengaruh atau kontribusi antara variabel nilai pelanggan (y) yang signifikan terhadap loyalitas pelanggan (z) pada hotel kristal. keempat, customer relationship management (x) dan nilai pelanggan (y) menunjukkan bahwa kontribusi yang signifikan terhadap variabel loyalitas pelanggan (z) secara simultan adalah sebesar 44.9%. dengan memperhatikan hasil analisis dan pembahasan sebelumnya, maka saran-saran yang dapat diusulkan dalam penelitian ini adalah sebagai berikut. pertama, sebaiknya hotel kristal lebih ditingkatkan lagi sistem crm (customer relationship management), agar dapat mengetahui bagaimana langkah-langkah atau cara melayani kustomer, agar kustomer merasa puas sehingga keuntungan yang diperoleh semakin meningkat karena apabila kustomer merasa puas dengan pelayanan yang diberikan secara otomatis, maka kustomer tersebut akan menjadi lebih loyal terhadap hotel kristal. kedua, sebaiknya hotel kristal dapat lebih mengembangkan customer relationship management agar dapat mengetahui kustomer mana yang berpotensi memberikan keuntungan besar, kustomer mana yang merugikan, memberikan pelayanan seperti apa yang harus diberikan kepada setiap kustomer secara berbeda sehingga value yang diberikan dapat lebih baik lagi. customer relationship .....(budiman; irnita ajeng yuli muryati) 159 ketiga, sebaiknya hotel kistal harus memperhatikan manfaat dan kepuasan yang diterima pelanggan hotel kristal, baik dari segi produk ataupun jasa yang dikonsumsi atau diterima agar nilai pelanggan semakin meningkat. keempat, mempertahankan sikap pelayanan yang optimal kepada kustomer dan mengurangi biaya yang kurang perlu, dan lebih berfokus pada peningkatan pelayanan dan pelanggan. agar dapat lebih meningkatkan nilai pelanggannya. kelima, mempertahankan keterampilan karyawan dalam mengimplementasikan keinginan kustomer dalam menyediakan waktu untuk mendengarkan kebutuhan kustomer, termasuk ketidakpuasan kustomer terhadap produk ataupun pelayanan, yang dapat kita manfaatkan untuk menjadi agar menjadi lebih baik lagi ke depannya. keenam, sebaiknya hotel kristal harus memperhatikan kepuasan para pelanggannya secara terus menerus. apabila pelanggan merasa puas, maka secara tidak langsung akan meningkatkan loyalitas pelanggan. ketujuh, meningkatkan nilai pelanggan dengan cara memberikan kenyamanan pada kustomer dalam mendapatkan berbagai informasi yang mereka butuhkan, yaitu dengan cara (1) ketepatan waktu dalam pengiriman barang pesanan agar para kustomer merasakan bahwa manfaat dan pengorbanan (pengorbanan waktu, biaya, energi, dan psikologis) yang telah diberikan atau dikeluarkan tidak sia-sia, (2) dan juga memberikan pelayanan yang optimal kepada para kustomer hotel kristal. daftar pustaka griffin, j. 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(2004). an integrated framework for customer value and customer-relationshipmanagement. journal managing service quality, 2004, 14, 2/3, abi/inform global, p.169. *corresponding author p-issn: 1412-1212 e-issn: 2541-2388 19 the winners, 23(1), march 2022, 19-24 doi: 10.21512/tw.v23i1.7089 evaluating perceived service quality, perceived playfulness, and gratification towards user’s attitude of mobile instant messaging application prima ayundyayasti1*; arum febriyanti ciptaningtias2 1computerized accounting, accounting, politeknik negeri semarang 2managerial accounting, accounting, politeknik negeri semarang jl. prof. sudarto, tembalang, semarang, central java, indonesia 50275 1prima@polines.ac.id; 2arumfciptaningtias@gmail.com received: 24th february 2021/ revised: 18th april 2021/ accepted: 22nd april 2021 how to cite: ayundyayasti, p. & ciptaningtias, a. f. (2022). evaluating perceived service quality, perceived playfulness, and gratification towards user’s attitude of mobile instant messaging application. the winners, 23(1), 19-24. https://doi.org/10.21512/tw.v23i1.7089 abstract the research aimed to understand the behavior and adoption of mobile instant messaging (mim) usage. by applying perceived service quality towards perceived playfulness and gratification model, the research investigated the factors related to mim usage. two most popular mim applications used in semarang, indonesia, namely whatsapp and line were targeted. after testing and validating the reliability and validity, questionnaires were distributed to university students and employees in semarang, indonesia whom already used mim applications. the measurement of the constructs in the proposed model was confirmed with confirmatory factor analysis (cfa) to test the consistency of question items within each construct. the outcomes of the questionnaire were tested through structural equation modeling (sem) to test whether the proposed constructs are confirmed to the designated model. path coefficient and fit indices of the proposed conceptual model were also used to measure the possible relations between variables. the results show positive influences of perceived service quality, perceived playfulness, and gratification towards user’s attitude. keywords: gratification model, mobile instant messaging, perceived playfulness, perceived service quality i. introduction the way people communicate has changed with the advanced development of technology. smartphones have become a favoured communication device due to its advantage in mobility and easiness. in indonesia, which has more than 270 million of population, the popularity of smartphones has increased as well as internet based communication. mobile instant messaging (mim) and instant messaging (im) are fundamentally communication platforms which rely on internet connection to allow user’s access. while im is generally designed for desktop pcs, mim is specified for usage in mobile devices such as personal digital assistant (pda), mobile phone, tablet, and so on. it simply needs your phone number or e-mail address and internet connection for registration. even mim developers do not only establish the mobile version, but also the desktop version to synchronize the messages and share media from mobile phone. equipped with various features, mobile instant messaging (mim) takes over short message service (sms) and phone call as a communication manner. mim is very popular as it conveniently provides interpersonal communications. internet connection on mobile devices is required to utilize mim applications, opposed to sms which required phone credit in every message sent. numerous features such as text message, voice message, voice call, video call, group chat, user’s status update, stickers, document, and multimedia transmission make mim as a one stop communication platform and data sharing. as the use of mim grows, researchers conduct studies related to the adoption and behavior of mim utilization. in 2016, a researcher examined the use of mim to support teaching and learning of database course in higher education (so, 2016). perceived playfulness is highlighted in the effect of social interaction of mim (hsieh & tseng, 2017). the perspective of uses and gratifications of mim were examined in nurses as a communication platform in health care service (bautista & lin, 2017). the study of retailerconsumer interaction using mim was conducted in 20 the winners, vol. 23 no. 1 march 2022, 19-24 china (vazquez, dennis, & zhang, 2017). whatsapp as an mim application is used as a feedback tool of english foreign language class (soria, gutiérrezcolón, & frumuselu, 2020). various mim application is available to be downloaded on smartphone such as whatsapp, line, telegram, messenger, michat, discord, and so on. the research focus is particularly based on whatsapp and line usage as the two most used mim applications in indonesia. user’s adoption towards technology depends on many factors. as mobile instant messaging gain popularity, the number of users of those applications grow as well. the research is conducted to identify user’s adoption and behavior in using mim application. the purpose of the research is to identify factors associated to attitude towards using mim and the actual behavior of how the users utilizing the applications. mim application developers could also utilize the research results to determine the factors influencing mim adoption and possibly improve features provided in the application development. the research investigates perceived service quality towards perceived playfulness and gratification model to explore factors regarding to the use of mim in indonesia. the next section presents conceptual background as well as brief review of literature along with a proposed model of the research. technology acceptance model (tam) was first introduced in 1989. two specific variables, perceived usefulness and perceived ease of use were developed and validated which then hypothesized to be fundamental determinants of user acceptance (davis, 1989). perceived usefulness was defined by davis (1989) as the extent which a person considers that using a specific system would increase job performance. whereas perceived ease of use was defined as the extent which a person considers using a specific system would not require a great effort. tam was extended from theory of reasoned action (tra) proposed by ajzen and fishbein. it is believed as the most applied model for researches related to technology acceptance. a systematic review of tam on social media was performed and the results showed that tam was used as a primary theoretical model. not to mention, the correspondence of the related studies were mostly students of higher education. (al-qaysi, mohamad-nordin, & al-emran, 2020). other study of tam applied psychological influence theory of conformity behavior and self-esteem in the extended model. wechat application was used as the subject of research (yu, 2020). mim as a type of internet based social interaction using mobile device should show similar behavior towards social networking sites (sns) and traditional instant messaging as a form of communication means. the research proposes integration of technology acceptance model, perceived service quality, perceived playfulness, uses and gratifications theory, and social influence as extended variables contributing user’s adoption of mim applications. perceived service quality is believed to have an influence towards customer’s loyalty, satisfaction, and motivation in using a service (subrahmanyam, 2017). a research in regards to perceived service quality towards physician and user’s satisfaction on mobile healthcare consultation was conducted in 2020 (tan & yan, 2020). the research adopts the conceptual model of chou’s research (chou, 2006). chou defines perceived service quality as the overall quality of services that user perceived or experienced. this definition refers to chou’s study towards mobile information and entertainment services which treat perceived service quality as a multidimensional construct that combines underlying service attributes. the attributes mentioned in chou’s study referred to some of the constructs in chung and tan’s study (chung & tan, 2004) regarding to website characteristics as antecedent of perceived playfulness. this research adopts experimentation, personalization, perceived usefulness, perceived ease of use, feedback, variety, content, and speed from chou (2006) and chung and tan (2004) as antecedents of perceived service quality. the antecedents used in the research are simplified based on the characteristics of the attribute, thus makes perceived service quality as the second order factor. experimentation, personalization, feedback, and content have a characteristic of reciprocal response between the user and application. hence, the constructs are combined as interactivity construct. variety and speed indicate characteristics of being related in functionality aspect. both constructs are classified as practical attributes in mim application. variety in mim application offers diverse services that can become the excellence of the application to attract users. speed is related to the extent which mim application can deliver information between the user and system as well as between other users. the functionality of variety and speed are then associated as feature construct. figure 1 perceived service quality constructs gratification theory has been used in a lot of research. it is believed as one of the many factors why users continue to engage in an activity and utilize a service. ghazali, mutum, and woon (2019) conduct research of user’s gratification in the continuity playing an augmented reality game. ha et al. (2015) apply gratification model in social networking sites. ha et 21evaluating perceived service.... (prima ayundyayasti; arum febriyanti ciptaningtias) al. (2015) point out variables related to gratification are: (1) cognitive, (2) hedonic, (3) integrative, (4) social interactive, and (5) mobile convenience. this research adopts gratification related variables from the research by ha et al. (2015). cognitive refers to the acquirement of knowledge and information through the content shared on mim. interactions with fellow users allow the procurement and information exchange that are expected to positively influence gratification of using mim. integrative related to individual’s ability to develop self-identity, enhance social relations, and reputation from using mim application. communication with other users is the key aspect in obtaining integrative gratification. hedonic gratification is related to the enjoyment and pleasurable sense from mim adoption. this construct is considered of having a close implication with perceived playfulness. hence, in the research hedonic gratification is taken down from ha’s conceptual model. social interactive refers to whether someone feels convenient to participate in interpersonal communication interchange using technology. while mobile convenience is the easiness of using mobile instant messaging with minor effort. as mim is distinguished in its mobility as a long distance communication platform, mobile convenience is one of the key features offered. figure 2 gratification constructs perceived playfulness was introduced by moon and kim (2001) as an extension of tam in the context of world wide web (www). it has a role as a motivational characteristic of individuals and as a situational characteristic of the interaction between an individual and the situation. moon and kim (2001) define three dimensions of the perceived playfulness as: (1) concentration, (2) curiosity, and (3) enjoyment, in which individuals with positive playfulness would interact positively. hung, tsai, and chou (2016) unravel perceived playfulness in user’s adoption of social networking sites (hung et al., 2016). hung et al. (2016) argue that enjoyment, curiosity, and concentration are the superordinate constructs that form the concept of perceived playfulness. playful experience of using a service leads to the sense of curiosity and users will be completely engaged. thus, concentration is included as users are drawn in an activity that they enjoy. in the research, hedonic gratification and perceived playfulness are believed to share the same characteristic of enjoyment as an emotional outcome in which individuals will find the interaction with mim is interesting and their engagement in the activity is for pleasure. perceived service quality defines the extent to which individual perceived that mim application’s service quality is obtained from comprehensive attributes rather than single trait. the quality of service is believed to have an influence to the feel of satisfaction and enjoyment of perceived playfulness. the overall quality of service will play a role in the sense of fun, enjoyment, and hedonic to user’s adoption of mim application. arcand et al. (2017) argue that hedonic dimension of a mobile service is also formed by the service quality. based on this explanation, the hypotheses are proposed: h1: perceived service quality positively influences gratification. h2: perceived service quality positively influences perceived playfulness. h3: gratification positively influences attitude. h4: perceived playfulness positively influences attitude. social influence is considered to affect individual’s attitude and usage towards mim (beldad & hegner, 2018). beldad and hegner (2018) believe that social influence related to an application’s popularity that would captivate people to voluntarily use the application. theory of reasoned action (tra) implies that subjective norm and attitude influence individual’s behavioral intentions, thus perceived social pressure influences individuals to engage in a behavior (karnowski, leonhard, & kümpel, 2018). social features related to social experience will have a consequence on consumer’s engagement to use mobile application (tarute, nikou, & gatautis, 2017). in mim context, social influence will impact whether other people’s opinion involving in individual’s paradigm and the actual use of technology. users’ adoption of mim may be determined by their individual need to apply the technology and also by the influence from other people. in the adoption, one user may have multiple applications due to their need to communicate with other user who employ certain mim application. this will affect their behavior and attitude towards mim application whether they think the application is usable and worth to use for long term communication platform. the popularity of an application is also determined by the number of users who utilize the application. based on this explanation, the following hypotheses are proposed: h5: social influence positively influences actual use. h6: attitude positively influences actual use. 22 the winners, vol. 23 no. 1 march 2022, 19-24 the influence of perceived service quality towards perceived playfulness and gratification is analysed in the research to identify user’s behavior towards mim as communication platform. ii. methods the data used in the research are collected by a questionnaire survey. the respondents consist of university students and employees to represent active users of mim application. 321 responses from 150 employees and 171 university students are deemed usable in the research. out of all the respondents, 167 respondents are female and 154 are male. the age range of the respondents is between 17 and 51 years old. most of the students are in the age group of 17-23 years old with total of 145 respondents. almost half of the employee respondents are in the age group of 2430 years old with total of 64 respondents. this shows that most of the active users of mim application are the younger generation (under 30 years old). whatsapp is used by more users of both students and employees rather than line. a questionnaire is set up consisting of personal information such as age and occupation, individual’s experience in using mim, and questions related to the research constructs. a brief introduction on the purpose of the research and definition of mim is included in the front page of survey questions. all of the constructs are measured using seven-point likert scale with (1) represents “strongly agree” to (7) represents “strongly disagree”. the assessment of the measurement model is evaluated to determine internal reliability of items in the construct using cronbach’s alpha. all of the construct reliability in the research ranges from 0,728 to 0,891 as shown in table 1. table 1 construct internal reliability construct reliability interactivity 0,736 feature 0,728 perceived usefulness 0,847 perceived ease of use 0,854 perceived playfulness 0,804 cognitive 0,782 integrative 0,847 social interactive 0,766 mobile convenience 0,786 social influence 0,814 attitude towards mim 0,891 actual use 0,808 confirmatory factor analysis (cfa) is used to evaluate model measurement. the second order factor of perceived service quality and gratification are tested initially. the results of the loading factor in second order factor loading are between 0,8 and 0,93. the number of factors and which factor each variable will load on correspond the theoretical concept of the constructs. the measurement theory in cfa is to specify the number of factors and which variables load on those factors. iii. results and discussions structural equation modelling from amos software version 21 is used in the research to assess the goodness of fit of the proposed model. the evaluation for the goodness of fit score as recommended by bentler and bonnett (1980) and segars and grover (1993) shows that the fit indices score in this model indicates an acceptable model fit. some modifications are suggested to improve the goodness of fit score. however, the suggestion is considered not fitting the theoretical background of the research. the fit indices score of the proposed model is shown in table 2. the results for comparative fit index (cfi), goodness of fit index (gfi), and root mean square error of approximation (rmsea) have met the recommended criteria. whereas the adjusted goodness of fit index (agfi) score is 0,767 which is slightly below the criteria of 0,80. however, the difference in the score is considered close to the 0,80 criteria, hence this score is acceptable for model fit. table 2 fit indices fit indices recommended score results gfi ≥ 0,80 0,819 agfi ≥ 0,80 0,767 cfi ≥ 0,90 0,903 rmsea ≤ 0,1 0,092 the purpose of the research is to understand users’ attitude and behavior regarding mim application by evaluating the influence of perceived service quality towards perceived playfulness and gratification model. the research proposed six hypotheses regarding to the use and behavior towards mim applications. the results of the proposed hypotheses indicate positive relations of the hypotheses. hypotheses testing are assessed with path analysis in the structural equation modelling. the hypotheses testing result is shown in table 3. h1 evaluates whether perceived service quality has positive influence towards gratification with the standardized estimates of 0,074. this verifies that the overall service quality that users feel influences the satisfaction of using mim application. thus, perceived service quality positively influences gratification. h2 presents positive influence of the relation from perceived service quality towards perceived playfulness with standardized estimates score of 0,135. thus, the proposed hypothesis is supported positively. in h3, gratification is expected to have positive influence towards attitude of mim usage. this hypothesis is supported with standardized estimates 23evaluating perceived service.... (prima ayundyayasti; arum febriyanti ciptaningtias) score of 0,076. according to ha et al. (2015), regarding the influence of gratification towards user’s attitude also indicates a positive impact. perceived playfulness also positively influence attitude as proposed in h4. it is supported with the score of standardized estimates of 0,044. the result of h4 coincidentally reflects the result of perceived playfulness in the extended technology acceptance model (moon & kim, 2001). the proposed h3 and h4 are supported positively. the relation of social influence towards attitude of mim usage is evaluated in h5. the research result indicates positive influence with standardized estimates of 0,055. as the popularity of mim as communication tool is increasing, many people use it to connect and communicate with each other. h6 conjectures positive influence of attitude in using mim towards actual use of the application. h6 is supported with positive standardized estimates score of 0,053. thus, the proposed h5 and h6 are supported positively. the relation of attitude towards using with actual use of a technology is confirmed in tam by davis, as seen in figure 3. figure 3 proposed conceptual model iv. conclusions the research has achieved the objective to evaluate perceived service quality, perceived playfulness, and gratification towards user’s attitude in the context of mim application by using structural equation modelling (sem). the measurement of the constructs in the proposed model is confirmed with confirmatory factor analysis (cfa) to test the consistency of question items within each construct. path coefficient and fit indices of the proposed conceptual model are also used to measure the possible relations between variables. the research results contribute to some implications. first, the findings contribute the positive impact of perceived service quality towards gratification. perceived service quality is measured by attributes consisted of interactivity, perceived usefulness, perceived ease of use, and features. meanwhile, gratification is measured as overall gratifications of cognitive, integrative, social interactive, and mobile convenience aspects. second, the hypothesis of positive influence from perceived service quality towards perceived playfulness proposed by chou (2006) is also confirmed based on the research findings. the findings imply that users’ perception on the overall service quality in mim application affect the sense of playfulness in the interaction with the application. various features offered in the applications such as emoticon, stickers, voice call, video call, and user’s status bring the fun experiment in the engagement with mobile instant messaging. users can interact with others using the available features to enhance communication experience, rather than just simply chat using texts only. this corelates to the service given in the application could make users feel content during their interaction with other users on mobile instant messaging. satisfaction of the users measured in gratification constructs affects attitude of using mobile instant messaging. the service quality of mobile instant messaging applications positively have a significant impact towards perceived playfulness and gratification during user’s engagement with the applications. the research has some limitations which might be explored for future research. first, users are required to participate in the questionnaire survey by their experience interacting with mim application. thus, a biased result may appear from the limitation of only users with the experience of interacting with mobile instant messaging. in addition, only students in the age range of 17-23 years old participate in this survey. whereas a lot of younger students are also active users of mim applications. second, the research takes samples of respondents in one city, while it could have been done using larger data samples. the future research might use a larger sample in different cities to evaluate possible different nature or comparison of users’ behavior in different area. in addition, as the research contributed in the implication for the influence of perceived service table 3 path coefficient path proposed relation estimate standard errors testing hypothesis h1: psq → gratification positive 0,683 0,074 supported h2: psq → pp positive 0,541 0,135 supported h3: gratification → attitude positive 0,362 0,076 supported h4: pp → attitude positive 0,215 0,044 supported h5: sinf → attitude positive 0,480 0,055 supported h6: attitude → actual use positive 0,810 0,053 supported 24 the winners, vol. 23 no. 1 march 2022, 19-24 quality towards gratification, further research related to this hypothesis could be conducted in different context of behavior towards technology. the measurement of user’s gratification in the technology adoption could be tested by perceived service quality. with the development of advanced technology, in which it could be completely new or modified from an existing technology, it could relate towards each other 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(2020). extending the learning technology acceptance model of wechat by adding new psychological constructs. journal of educational computing research, 58(6), 1121-1143. https://doi. org/10.1177/0735633120923772 organizational learning (ol) and strategy …… (agustian budi prasetya) 25 organizational learning (ol) and strategy: information processing approach to perform strategic choice analysis agustian budi prasetya management graduate department, bina nusantara university jln. k. h. syahdan no. 9, palmerah, jakarta 11480, indonesia agustian.prasetya@binus.ac.id abstract study of organizational learning (ol) required to discuss the issue of strategy to understand company’s organizational knowledge and how company applied the organizational knowledge toward the changing of the environment. method of the analysis for this research was based on desk research thoroughly on the existing literature. this research analyzed the viewpoints of different researchers in ol and elaborates the information processing abilities approach of ol. based on desk research on literature, the research discussed information processing approach to explain ol and strategy choice by describing the importance of information and assumptions, the activities of knowledge acquisition, interpreting and distribution of the knowledge, typology of exploitation and exploration learning. it proposed the importance of the company to perform alignment between internal managerial process arrangement and external environment while doing the learning, based on the strategic choice space, as theatrical clustering map of the learning, the fit, the alignment, and the alliances of the organization. this research finds that the strategic space might help the analysis of balancing between exploitation and exploration learning while applying the analysis of varied firm characteristics, strategic orientation, and industrial environments. keywords: organizational learning, strategic choice, alignment, strategy space, information processing introduction in this dynamic business environment, an organization needs to change, learn, and implement those change. in this sense study of learning that the organization has gained, it is important to keep the organization transform itself in line with the environment (farrukh & waheed, 2015). as it is studied in the organization field, the terminology of learning organization also complementary with the ol. those are relevant to explain organization phenomenon as those are studied by several scholars. burnes, cooper, and west (2003) have said the organization that is good at ol is a learning organization. ol is a concept that used to describe a certain type of activity. it takes place in an organization while the learning organization refers to an organization in and of itself. further, he underlines the meaning of ol as a type of activities that become learning organization by involving systematically and synergetic for every member of the organization, therefore, the organization is able to transform itself continuously. curado (2006) has mentioned that the challenge of ol studies is the incorporating discussion of organization design and its strategy. it urges to cover discussion of organizational structure as the contingent factors of the organization strategy and its alignment arrangement based on what company learn about the environment. in this sense, it is necessary to understand about learning comprehension as a sense of direction and about changing where the company to compete and excel. the strategy is about applying the direction of the future of the organization by conducting the organization. the idea of applying what organization learns to anticipate and create the future would be the contribution of strategy in getting the business firm moving forward (dubrin, 2010). 26 journal the winners, vol. 18 no. 1, march 2017: 25-32 this research presents an analysis of ol about the strategic choices, the important fit between organization and environment, and the alignment of the internal resources arrangement and the dynamic external business environment. strategic choice is choosing which company gains competitive advantage and exploits opportunities in the organization (barney & hesterly, 2015). the successful organization performs strategy fit with the organizational environment and supports that strategy with structural design and appropriate management process (rhys et al., 2008). it keeps various fine-tuning pieces of strategy, adjusts and response unfolding events (anderson & simester, 2011). therefore, schumpeter (2015) has metaphorically said the strategic choice would rather a palate of plans since choosing a strategy is a lot more complex for the organization that it used to be. the analysis would discuss theoretical issues of the ol in the context of strategic choices and would promote an ol approach that is applying into theatrical strategic space for further research. in doing so, the article might answer these following questions, such as (1) what makes an ol approach available for promoting strategic choices of the organization? (2) how ol approach necessary for the organization strategy space discussion? methods method of the analysis for this research is based on desk research thoroughly on the existing literature. this research analyzes the viewpoints of different researchers in ol and elaborates the information processing abilities approach of ol. the author also analyzes the typology of ol from the james g. march (1991) of exploitation and exploration ol. exploitation in this research refers to the activities of an organization to reduce the variation in the organization such as standardization that dedicated to improving the efficiency, reliability, risk aversion, and emulation of success. while ol of exploration refers to the increasing the variation in the organizational process of the organization through task, duties, and function for innovation (schermerhorn et al., 2012). it also analyzes the model of strategic choice of raymond e. miles and charles c. snow (1984) that is applying into the strategic space (burton, obel, & desanctic, 2009) and ol and strategic choice as corporate alliances option (yamakawa et al., 2011). results and discussions french et al. (2015) have stated that ol is a process to make a learning organization improves the organizational performance by acquiring new knowledge. lopez et al. (2006) have seen organization learning as a dynamic creation process, acquisition and knowledge integration for resources development and capability that suitable for organization perform better. chiva and aligre (2005) have elaborated ideas about ol by mentioning that ol is an efficient procedure to process, interpret, and develop the representation of reality which is knowledge. the process of ol, therefore, might occur through the organization that own cognitive process as own by the member of the organization. the organization learning is a process that continuously acquisition new knowledge and adjust for successful adaptation to the organization external and internal environment and maintain the existent and sustainability. it can be concluded that the study of ol discussion is based on various perspectives and theoretical approach. pawlosky (2003) has categorized the studies of ol into theoretical cognitive perspective and knowledge perspective. from the cognitive perspective, he identifies two groups of theoretical approach, which is structural and corporate epistemology approach, and the other is a core competence and knowledge creation. this article uses basic theoretical approach to discuss organizational knowledge and strategic choice that is focusing on the information-processing abilities that assumed entity’s from the cognitive organizational learning (ol) and strategy …… (agustian budi prasetya) 27 structure. it is inspired by the studies on the cognitive psychology that covers the study of cognitive structure and knowledge system of an individual basis. however, as mentioned by pawlosky (2003) that the assumption of the cognitive psychology also applies to the level of collective basis, which is organization and group. therefore, as the coverage issued of the individual structure, the cognitive structure of organization also attached to the assumption that every activity has basic cognitive, as reflected in the norms, assumption, and strategy (pawlosky, 2003). refers to the focus on discussion of the ol and strategy in this research, the author argues that the organization learn to improve its understanding and evaluation of the internal and external structure through the decision-making ability in an organization by integrating value and belief in the organization (pawlosky, 2003). the studies of the structural perspective are about the important role of the network of an information-use process in the organization. it covers the issues of information and knowledge in the organization as part of the organization improvements advantage. this research argues that an organization does process scanning abilities to consider information about the change of business environment. when the environment of the organization changes and there is a lack of fit between the organization and the environment, the organization might fail to survive. the organization also acquires the knowledge from experimentation, direct experience, self-appraisal, and inheritance knowledge. the distribution of information in organizational is done by sharing to develop new information and new understanding. in short, the organization looks for information and constructs ol by broadly understanding the different sources of information about the internal and external environment of the organization. there is an amount of research with this organization learning approach, for example, huber (1991). he has developed four constructs of learning to explain how the organization understands various sources of information through knowledge acquisition, information distribution, information interpretation, and organizational memory. huber also has stated that an organization would learn if its units acquisition the knowledge that potentially useful to the organization. therefore, ol occurs if many units or components in the organization do acquisition the useful information or knowledge, so they have more varied interpretations and have the possible range of changes by developing uniform comprehensions of various interpretations (huber, 1991). more learning has occurred when more various interpretations have been developed because such development changes the range of the organization’s potential behaviors (huber, 1991). the organization needs to identify the potentially useful information and more different interpretation about the organizational environment. when the environment changes, the organization might become incompatible with the environment, and it needs to develop strategy options by expanding the information acquisition process continuously and more wide-ranging information and sources. lopez et al. (2006) have also developed study based on huber’s by expanding the study on external knowledge acquisition and internal knowledge acquisitions. ol involves long-run external knowledge acquisition such as networking, alliance with the customer, experts, and other knowledge institutions. also, lopez et al. (2006) enrich the study of huber by identifying the role of integrator and information technology, also the measurement of information distribution such as goal, innovation, best practices, and communication. also, they incorporate a common knowledge to foster common understanding to coordinate process in organization memory of customer database. the organization maintains the strategy of configuration to stay competitive or achieve high-performance organization by making fits, aligning between internal and external organization environment, and explore collaboration of multi-firm network from organization to keep organization innovates continuously. structure and the process of the network from the organization would be able to tap the opportunity beyond the industry limitation (von glinow & mcshane, 2010). yamakawa et al. (2011) have researched the information processing approach to ol and strategy choice. it discusses the march’s exploration and exploitation approach that applies to alliances strategic option configuration. it concludes that certain exploration and exploitation that the 28 journal the winners, vol. 18 no. 1, march 2017: 25-32 configuration might respond to the resources and firm performance, corporate alliances portfolio, firm characteristics, and industry contexts. the research confirms the role of environment, especially the growth of the industry that is considered as an important factor for firm alliance and favorable financial performance, while the alliances organizations might be having various internal resources. the source of organizational information and interpretation from external environment and alliances requires organizations to set choices based on the fit between various internal resources arrangements across the alliances to maintain organizational advantage competitiveness. refers to the curado (2006), this research presents how ol and strategy choices based on the study of information process approach of ol and how it is important to learn. yamakawa et al. (2011) have researched the strategic options and learning analysis to adapt the environment based on the corporate strategy and alliances in industry. burton et al. (2009) discuss the ol and issue of strategy. they have stated that strategy is based on the application of the knowledge while learning is a chance in knowledge to apply the new strategy. it concludes that strategy choice, knowledge usage, and learning are all concerned with how the firm chooses and which actions to take based upon limited information. based on the typology of miles and snow, strategic choices and ol typology of exploration and exploitation from march, burton et al. (2009) have explained the strategy choices and ol as can be seen in the figure. the strategy choices for typology are the reactor, defender, prospector, and analyzer. in that choice includes a type of choices for solving a problem such as choice of technologies, choice of product-market domain, the rationalization of an existing process, and selection of areas for future innovation. exploration and exploitation are developed by march (1991) to analyze the ol and knowledge in an organization. exploration and exploitation might apply in strategy since in the application of the knowledge and learning are about changing knowledge to develop the new strategy. figure the strategy space and ol (burton et al., 2009; prasetya, 2011) the strategy helps the company in processing the positioning of the company within the rivalry environment, and the way company used the limited information and varied of information interpretation for company competitive advantage. the strategy is also building the capability to excel the execution and keeping open information to ensure enough information sharing. it is ultimately the open possibility of cooperation with external sources alliance, executing collaboration, and cooperation through across organizational mechanism coordination and integration (thompson et al., 2016). since the strategy is an ongoing process, such as making sure of the superior achievement in competition landscape, it involves productive activities across all the activities in the organization. therefore, a company uses fit and aligning to drive the goal to satisfy the need of key stakeholders, the advancement of the technology in the industry along with the internal arrangement, such as structure and intangible capabilities of the company. the discussion for future research for ol might involve the deployment of the resources of the company through it that involves processing abilities of the company and capitalizing the tactic to know about the organizational knowledge for excel the execution. people can argue that a company that committed to doing the learning in the level of organization might be reviewed regarding how intensive organizational learning (ol) and strategy …… (agustian budi prasetya) 29 the organization acquires the information and knowledge that consider useful for organization, aware of the differences and alternatives with possible changing the understanding. the organizations learn along with the effort to stay competitive in the business through alignment between internal arrangements and external environment. the process of acquiring knowledge and distributing knowledge to adapt to ever changing the environment, according to information processing abilities approach, requires the organization to process internal and external information acquisition, interpret, and distribute information and retained the information into organizational knowledge. the organization needs to settle mechanism to distribute the information obtained and to locate the units that mostly affected to build the capability and execution. since the information within the organization is a collective understanding, therefore organization needs to reload how the information relates to the organization current capabilities and future scenario. the units’ activities might be envisioned as value-adding activities to serve the marketplace (enz, 2010). it might be formulated as an arrangement of the source of strength and competitive advantages. in other argumentation, the ol and strategic choices involved in the exploiting the best organization’s experiences and from the others as well as in the exploring the change of the environment of the organization. there are other possibilities of a new model of collaboration that affect the adjustment of the organization process, management, and pattern of decision-making. strategic choices of the organization then might be argued to response the economic perspective of the organization that requires the organization to compete successfully. while the organization competes in dynamics and rivalry environment, the organization needs to learn continually and to apply the strategy that gives sufficient balance between exploration and exploitation of internal process and pattern of decisionmaking. strategic choices, such as applying the business or corporate strategies, requires organization learn to deploy the organization knowledge that sources from the lesson from exploring the advancement of technology and exploiting the existing market. it calls systematic arrangements of organization structure, the process of business, technology and understanding the environment drive. also, applying learning to choose the strategy helps strategic process involving strategy executing team in coordinating to achieve company-wide performance targets, especially in dynamics and faster change of company business environments. in these environments, making internal arrangements and external fit might be accompanied by the fine-tuning the plan and the execution to improve the strategy execution. such as winning strategy tests, that is good fit, competitive advantage; strong performance might be useful to understand what company learns and choices of strategy. applying strategy spaces not only can help in understanding the ol but also explain the industry corporate strategic options. the author proposes the ol that is doing the exploration and exploitation might apply to the choices of strategy at the level business or corporate. as researched by yamakawa et al. (2011), they conclude that organizational characteristics such as firm age reflect the level of resource endowments and internal strategic orientations such as cost leadership and differentiation strategies. it entails the way in which a firm deploys its resources; an external environment context such as industry growth constrains the supply of the resource. therefore understanding, for example, is the exploitation learning that provides people with the conceptual type of promoting positive, proximate, and predictable learning. further, it could be analyzed for applying learning in resulting more direct, the immediate benefit that is the near-term performance of organizations alliances. applying the information processing abilities with the strategy space in ol opens the opportunities in understanding more interplay among the exploration and exploitation along with understanding the fit and aligns arrangement internally and externally toward the competitive of the organization performance. organizational alignment creation leads to the sustainable competitiveness. positive alignment might be created by connecting all of activities and process of creating activities and managerial proses within organization toward strategy organization. organizational alignment is also working on the aspect of an organization such as goal, objective and activities toward goal, rewards, and culture that are in line with the strategy. the example is the classical strategic choice in organizations as identified by 30 journal the winners, vol. 18 no. 1, march 2017: 25-32 miles and snow (1984), generally speaking, is not an effective organization in the industry if the organization choices reactor strategy. an organization that performs strategy choices as defenders, prospectors, and analyzers might be an effective organization in the industry and might carry on the conditions that identified as a minimal fit. miles and snow (1984) claim that minimal fit is the requisite for the survival in the competitive environment. minimal fit also does not a guarantee for excellence organization performance. they explain that tight fit condition with the external and internal environment that strategy, structure, and management process are the basic requirement to achieve excellent organization performance. minimal fit and tight fit are a discussion of fit among internal and external environment to arrange strategy-structure-process fit. a changing in the external environment of an organization that is not enough aligned with strategy will affect the performance of the organization and possible become a failed organization. the disintegration of the management process within the structure that is not supporting the alignment strategy might be misfit occurred and brought the consequences of decreasing performance of the organization and possibly lead to the failed organization. in this research, the writer could argue that semler (1993) complements the miles and snow’s (1984) explanation about the flexibility of the company to apply strategic choices and the organizational alignment for organizational survival and the necessity of tight fit condition for promoting excellent organizational performance and continuous competitiveness. von glinow & mcshane (2010) also cover issues of ol, fit and state of organizational alignment such as internal resources arrangement. they refer to the organizational effectivity as organizational performance, success, goodness, excellence, healthy, or competitive. they also explain the organizational effectiveness as an organization has a good fit with their external environment when their internal subsystems are configured for a high-performance workplace, when they are learning organizations, and when they satisfy needs of key stakeholders. therefore it may apply the analysis of learning and strategic space. it helps explain organizational effectivity how the organization learns toward the environment to achieve organization mission, vision, and satisfying the needs of key stakeholders. people might argue that organizational effectivity as the organizational performance that might be achieved when an organization has the ability to the acquisition, share or distribute, use, and store the knowledge as its organizational knowledge. the strategic space map, which applying choices and learning might calibrate where we are now at the battle of competitiveness and where we are going to for future sustainable advantage competitiveness. as mentioned by yamakawa et al. (2011), the firms get older; the crowding effect tends to become stronger. in this sense, the map might provide how the exploitation and exploration activities that supposed to guide the direction to increase organization ability to create innovative process or values for sources of new competitiveness regarding the aging industry landscape of competition. conclusions this research discusses the ol from the perspective of information processing abilities and applies it to the strategic choices, as it might express the analysis into the clustering map of possible strategy space of the company. it explains the mode of exploration and exploitation learning typology of companies to learn from the peers' strategic options in the industry by considering the fit between environment, and internal arrangements of the organization to keep the company competitive. the analysis underlines the importance of the company to learn from the company competition landscape map and the alignments of the internal and external environment arrangements. for further research, based on the understanding the information processing of learning approach, the strategic space map might inspire research in the strategic choices and the mode of learning, regarding the firms embracing more to exploration alliances when the company is focusing on differentiation choices. while it might also inspire the research about the firms that carry on the cost leadership options might engage more exploitation alliances. further, the learning typology and the strategic choices also inspire the necessary research of fine-tuning fit with the winning strategy test, organizational learning (ol) and strategy …… (agustian budi prasetya) 31 especially fine-tuning between internal and external fit in executing strategy. the map also might develop more understanding about environmental fit, that is, showing high-growth industry context to be more embrace in exploration alliances. it might also understand the industry in low-growth mapping that is showing exploitation mode to achieve the short-term financial benefits from strategic alliances. it includes the analysis of a cluster of ol toward the structural adaptation to keep align between organizational environment internal management processes of the organization. the strategic space might help the analysis of ballancing between exploitation and exploration learning while applying the analysis of varied firm characteristics, strategic orientation, and industrial environments. it might also apply to building more understanding about the dynamic of balancing fine-tuning of existing resources and capabilities to deploy new knowledge based on possibilities business and portfolio alliances. references anderson, e. t., & simester, d. 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(2011). ol in neswpaper publishers. analysis the dominant characteristics of the orgaizational learning, structural differentiation-integration and competency of the daily newspaper publishers in jakarta (master’s thesis). depok: universitas indonesia. rhys, a., boyne, g. a., o’toole, l. j., & walker, r. m. (2008). exploring ”strategic fit”: an empirical test of snow and miles model. paper presented at academy of management conference, anaheim, california. schermerhorn, j. r., hunt, j. g., & osborn, r. n. (2012). organizational behavior. usa: nj. john wiley & sons. schumpeter. (2015, 28 may). a palette of plans. retrieved march 28th, 2017 from http://www.economist.com/news/business/21652318-choosing-strategy-lot-more-complexcompanies-it-used-be-palette-plans. semler, r. (1993). maverick: the success story behind the world’s most unusual workplace. new york: warner books. thompson, a., peteraf, m., gamble, j., & stricland, a. j. 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(2011). exploration versus exploitation in alliance portfolio: performance implications of organizational, strategic, and environmental fit. research policy, 40, 287–296. http://www.economist.com/news/business/21652318-choosing-strategy-lot-more-complex-companies-it-used-be-palette-plans http://www.economist.com/news/business/21652318-choosing-strategy-lot-more-complex-companies-it-used-be-palette-plans tax e-filing system acceptance…… (natasya, et al.) 33 tax e-filing system acceptance level on the taxation compliance: an application of the utaut approach natasya1; elia madatu tandililing2; michael angelus3; kevin4 1ernst & young indonesia jl. jendral sudirman kav. 52-53, jakarta, indonesia 2,3,4accounting department, binus graduate program master of accounting, bina nusantara university jl. kebon jeruk raya no. 27, kebon jeruk, jakarta 11530, indonesia 1natasya.natasya@id.ey.com; 2elia.tandililing@binus.ac.id; 3michaelangelus@binus.ac.id; 4kevin070@binus.ac.id abstract this research aimed to analyze the acceptance level of the tax e-filing system on the tax compliance of the individual taxpayer. utaut had underpinned this research that consisted of the aspects of performance expectancy (pe), effort expectancy (ee), social influence (si), and facilitating condition (fc). these factors were expected to trigger the taxpayer attitude which will be impact on their behavioral intention. using a qualitative research approach, an interview with 16 individual taxpayers with certain criteria was conducted. the interview questions were derived from the utaut aspects. moreover, all interview scripts segmented into three distinct classifications; age, gender, and occupation. the interview data were analyzed using nvivo 12. the result shows that tax e-filing system is effective to stimulate the commitment of the participant, not only to use the system regularly and to report their tax return but also to fulfill their tax obligation voluntarily. the e-filing system increases participant productivity because it offers cost reduction and time-saving. furthermore, it is easy to understand and effortless to use. however, si has less impact on the participant' decision to use tax e-filing system since it is mandatory in accordance with the tax regulation. regarding the fc, it is sufficient to develop people interest in using the e-filing system. this result could be a beneficial source for the directorate general of taxes to evaluate the e-filing implementation and for indonesia citizen to actively involved in supporting directorate general of taxes policies to develop tax awareness throughout indonesia. keywords: tax filing, e-filing system, acceptance level, taxation compliance introduction the indonesia finance ministry through directorate general of taxes (dgt) has undertaken an improvement to simplify the process of tax return (henceforth, it is called spt/surat pemberitahuan tahunan in indonesia) submission in 2007, by modernizing the spt submission mechanism along. this policy is one of the outcomes of indonesia taxation reform which initiated by dgt in the same period. along with the modernization of the spt submission mechanism, dgt has also revitalized its tax office that is adjusted to the reform agenda and issued tax regulation with number 28/2007 concerning the general provision and procedures of taxation. yet, income tax and value-added tax have been refined as well as tax incentives and facilities have been regulated to foster the national economic growth (dgt annual report, 2007). regarding spt submission, dgt previously has minimized the spt form to support the self-assessment process conducted by indonesia taxpayer, either individual or corporate taxpayer. however, advances in information technology (it) followed by the increasing need of time and cost efficiency have triggered dgt to announce tax e-filing system adhere to finance ministy regulation (pmk) with number 181/pmk.03/2007. it is concerning the form and content of the notice and procedure for making, filling, signing and submission of the tax return. mailto:natasya.natasya@id.ey.com mailto:elia.tandililing@binus.ac.id mailto:michaelangelus@binus.ac.id mailto:kevin070@binus.ac.id 34 journal the winners, vol. 20 no. 1, march 2019: 33-47 furthermore, dgt issues a derivative regulation with number 47/pj/2008 regarding procedures of tax return submission and the extension of tax return submission electronically (e-filing) through application service provider. in afterward, e-filing system has officially merged with the dgt website in 2014. referring to the e-filing system, it has been used by most of indonesia taxpayer, particularly individual taxpayer. this is derived by the fact that the level of system usage has reached 80% of the total of spt submission, which amounted to 10 million spt on march 31, 2018, as the last date of spt submission for the individual taxpayer. as a comparison, e-filing usage on march 31, 2017, has reached 69% of 9,7 million of spt that have been submitted. however, several issues such as inadequate electronic media, lack of requirement understanding in terms of electronic spt submission, and lack of it knowledge in some region have led some of the individual taxpayers to manually submit their spt (neraca, 2018). robert pakpahan, the general director of dgt, adds that the e-filing system is still incapable of maintaining individual taxpayer compliance. this can be demonstrated through a comparison between the actual and the target of spt submission. in 2018, the total of submitted spt was 10 million or 70% of the spt submission target which amounted to 14 million. this result, despite that it has increased by about 5% compared to the achievement in 2007, has not been able to capture the ability of the e-filing system to step the individual taxpayer compliance up. in order to obtain the whole picture of the role of e-filing system to transform the compliance behavior of an individual taxpayer, it is important to analyze the acceptance level of e-filing system by an individual taxpayer, which able to identify through their expectation and intention of the system. as a theoretical background of this research, the authors deploy the unified theory of acceptance and use of technology (utaut). utaut is the result of an integration among eight existing technology acceptance models, such as technology acceptance model (tam), the innovation diffusion theory (idt), the theory of reasoned action (tra), the theory of planned behaviour (tpb), the motivational models, a model of combining tam and tpb, the model of pc utilization (mpcu), and the social cognitive theory (sct) (venkatesh et al., 2003). in essence, utaut is a theory that measures the level of acceptance of a technology by a group of users with behavioral intensity as a result of evaluating user behavior using these technologies (thomas, singh, & gaffar, 2013; williams, rana, & dwivedi, 2015). furthermore, utaut has been firmly approved that able to demonstrate a systematic description regarding the level of technology acceptance (khechine, lakhal, & ndjambou, 2016). meanwhile, utaut segregates the assessment of the level of technology acceptance into four main elements; performance expectancy (pe), effort expectancy (ee), social influence (si), and facilitating condition (fc). these elements are moderated with variables that describe the users (venkatesh et al., 2003). pe indicates the level of trust the user has in technology in terms of the ability to solve the user problem. furthermore, ee indicates the level of convenience experienced by users of technology. thus, si indicates the effectiveness of the environment or other social factors to encourage the user to use certain technologies. ultimately, fc indicates the level of user confidence to use a technology based on the available infrastructure and other facilities (mahzan & lymer, 2014). having been a theoretical basis to explain users intention in terms of a technology acceptance level, utaut has been broadly used in various fields, including taxation. in the healthcare sector in surabaya, the level of e-health preference has been examined using utaut at one hospital with 100 participants (sa’idah, 2017). in terms of pe, the e-health acceptance level is 92% because of its ability to facilitate a simple registration process. referring to ee, the acceptance level has reached 96% from 50 participants in terms of easiness to obtain hospital services. regarding si factor, 50 participants argue that they are driven by other patients who have used the e-health system. this response leads to the acceptance level that has reached 74%. regarding fc factor, the level of e-health system acceptance has reached 76% because of its prominent feature and the fast response to provide a registration number. in terms of ib, however, e-health system is not to used intensely because some participants still prefer the traditional method as the consequence of their lack of knowledge in information technology. hence, the acceptance level is only 80%. tax e-filing system acceptance…… (natasya, et al.) 35 regarding public administration service sector, the level of e-government system acceptance has been examined with applying utaut approach in palembang (hartati, 2013). the result has inferred the e-government acceptance level is 90% due to its ability to improve citizen performance and accelerate the administrative processes (pe), able to understand easily and effortless (ee). in addition, the level of e-government usage tends to be more consistent (ib) in line with the invitation of the participant environment (si) that has changed the participant paradigm regarding information technology (attitude). yet, the level of e-government system acceptance has been analyzed using utaut in abu dhabi (al-mansoori, sarabdeen, & tchantchane, 2018). conducted by quantitative approach, the result implies all the participants tend to apply e-government voluntarily as the significance level below 0,05. in terms of pe, e-government is perceived to be able to minimize the time and costs of administrative management. in terms of ee, e-government does not have a significant impact because of the adequate level of understanding the participants have regarding information technology. however, e-government is proven to be effective because the local government obligates the use of the system (si) and all participants are facilitated by the government regarding system usage instructions (fc). these responses ultimately lead to the participant commitment to use e-government continuously (ib). the tax e-filing system had first been introduced in the united states (us) in 1986. such an advanced tax submission procedure is required to bridge the us citizen with the us tax authority (irs) in terms of taxation requirement more efficiently and effectively. this policy is made mainly to encourage us taxpayer compliance by reducing cost and time they require to fulfill their taxation obligation (schaupp, carter, & mcbride, 2010). in indonesia, the emergence of tax e-filing system is inextricable with the higher demand of an adequate national income, whereby tax sector contributes 75% of the national budget (directorate general of tax, 2007). this system is introduced by dgt through dgt regulation with number kep-05/pj./2005 and, later, the regulation is refined through per-47/pj/2008 regarding procedures of tax return submission and the extension of tax return submission electronically (e-filing) through application service provider under the supervision of pmk regulation with number 181/pmk.03/2007. furthermore, the e-filing system has not yet merged with the dgt website at the beginning. therefore, the merger process was undertaken in 2014 in accordance with dgt regulation with number per-1/pj/2014 concerning procedures of spt submission with the e-filing system for the individual taxpayer whose applying tax form 1770s or 1770ss through dgt website. in addition, spt submission on e-filing system not only utilized to tax form 1770s and 1770ss but also the tax form 1770 for the freelance taxpayer and 1771 for the corporate taxpayer. according to the regulation, the presence of the e-filing system is projected by dgt to simplify the spt submission mechanism and eliminate the manual submission process through the dgt office or dropbox mechanism. referring to the e-filing usage procedure, taxpayers are obliged to have e-filing registration number at first, known as ‘e-fin’. previously, taxpayers are required to submit a letter of inquiry followed by attaching their tax identification number (henceforth, it is called npwp in indonesia) along with their national identification number to the tax office where the taxpayer has been registered. when the e-fin number has been received, taxpayers must sign up for their participation in the e-filing system through the dgt website within 30 days after the e-fin released date (directorate general of tax, 2018). following the development of the e-filing system, 8 million of the individual taxpayer have reported their spt through e-filing system in 2017. this amount is 21% higher than the result in 2016, by which only 6 million of the individual taxpayer have applied the e-filing system as their tax reporting media. nevertheless, the achievement is not aligned with the recorded compliance level of the individual taxpayer which increased only 5% (nurita & setiawan, 2018; putera, 2018). the total amount of indonesia individual taxpayer reaches 18 million whereby 14 million of the taxpayer is targeted to report their spt. in fact, the realization is only 71% of the target, and 80% of the realized spt submission is reported through the e-filing system. the other individual taxpayer, who remain submitted their spt manually, infers that insufficient technical support from dgt has been the primary obstacle for them to 36 journal the winners, vol. 20 no. 1, march 2019: 33-47 use the e-filing system (directorate general of taxes, 2018). in this circumstance, hidayat (1986) has propounded that effectiveness is the benchmark of target achievement. accordingly, it can be concluded that dgt still has several challenges dealing with not only enhancing the level of individual taxpayer compliance in terms of spt submission through e-filing system but also providing a more effective program for the taxpayer to alter their perception regarding the importance of tax e-filing system. regarding the utaut implementation on the tax e-filing system, there are several researches which have been undertaken. firstly, us taxpayer attitude on the e-filing system has been examined using utaut approach added by several factors such as trust, risk perception, and optimism bias (schaupp, carter, & mcbride, 2010). the result confirms only two utaut factors (pe and si) along with all additional factor have affected the taxpayer behavior in using the e-filing system. pe factor emphasizes the benefit of the system that providing accuracy in tax calculation. si factor refers to the significance of community influence on the utilization of the e-filing system. referring to the additional factor, the e-filing system is considered reliable and more secure in terms of maintaining data confidentiality. however, the overall result tends to be less informative due to interviewee limitation in this research that only students who become the research participant. secondly, it has been examined the level of tax e-filing system adoption in vietnam using three utaut factors and equip with information system (is) success model (lu and nguyen, 2016). referring to the utaut model, the significance level of the system reaches 0,001 or below 0,05 as the benchmark of the significance level. the e-filing system able to meet the criteria of pe and ee in terms of usability, time efficiency, and cost saving of 137 individual taxpayer participant, as well as reducing the burden of participant tax obligation. referring to is approach, all participant feels secure to use e-filing system because of the efiling system ability to treat their taxation document confidentially, by which it encouraged them to use the system voluntarily and shifted from the traditional method (ib). nevertheless, this research tends to focus only on the level of the e-filing system acceptance and unable to describe experiences the participant have while using the system as the consequence of applying the quantitative approach. thirdly, research regarding the level of the tax e-filing system preference has been conducted in indonesia but limited to individual taxpayer intention (attitude) (hakim, 2016; dewi and yadnyana, 2017). thus, they have found that e-filing is firmly preferred in accelerating the task completion process (pe), facilitating the tax reporting process (ee) to generate a strong intention to use e-filing (attitude). in accordance with the above researches, it can be demonstrated that utaut is significant to identify and measure the level of technology acceptance. by and large, all these researches have confirmed the system that concerning public service, including the tax system, is widely accepted. however, the findings are unable to capture in-depth public argument and experience related to the system due to its quantitative approach that only emphasizes the value of the level of the system acceptance.align with the concept of the four factors in utaut, questions that able to raised in this research are: 1). what role does pe, ee, si and fc have on determining the individual taxpayer attitude in applying e-filing system? and 2). to what extent the individual taxpayer attitude able to influence the taxpayer behavioral intention in terms of their taxation compliance through e-filing system?. to answer these questions and obtain a more sophisticated response, this research applies qualitative approach that it will provide a broader and detailed perspective of information rather than quantitative approach. the qualitative approach along with data collection method will be further described in the methods section. this research applies the utaut model to analyze the level of the tax e-filing system acceptance as a determinant factor on the tax compliance of indonesia individual taxpayer. within the scope of this research, pe emphasizes that the e-filing system will be used if it can increase individual taxpayer productivity. ee means that whether e-filing is easy to understand and use, the individual taxpayer will continue to use the system. si indicates that if people have eloquently use the tax e-filing system or government regulation regarding the procedures and dissemination of the use of e-filing has been completely understood, it will encourage individual taxpayer and prospective taxpayer to use efiling. fc emphasizes infrastructure readiness, such as access to communication, computer equipment, and other related supporting devices. it is followed by the availability of capable tax staff resources to tax e-filing system acceptance…… (natasya, et al.) 37 conduct a workshop and public understanding of good technology that will able to encourage e-filing to be used consistently by individual taxpayer. in addition, researchers use the attitude element as an indicator to confirm whether the individual taxpayer is willing and voluntary to use e-filing, referring to the four elements. after obtaining confirmation from the attitude of an individual taxpayer, their behavioral intention in terms of the level of compliance with tax reporting using e-filing (ib) can be concluded. as a moderator, the variables used are age, gender, and individual taxpayer occupation. thus, the theoretical framework to assist authors in exploring the level of e-filing system acceptance can be illustrated in figure 1. the theoretical framework demonstrates the role of all moderating variables; age, gender, and occupations to generate an adequate conclusion from individual taxpayer argument regarding the efiling tax system, adjusted with the four factors of technology acceptance criteria based on the utaut. hence, confirmation of individual taxpayers' willingness to use the e-filing system can be obtained and thus it will affect changes in the individual taxpayers behavior, whether they will continuously apply the e-filing system. from this result, it can be justified the compliance level of the individual taxpayer on tax reporting using e-filing as well as their commitment to comply with their tax obligation. figure 1 the acceptance level of the tax e-filing system on the taxation compliance of individual taxpayer source: authors ee si fc attitude ib pe age gender occupations tax e-filing system increases individual taxpayer productivity e-filing tax system is easy to understand and use by individua l taxpayer to calculate and report their tax obligation individual taxpayer from various background has shifted their tax reporting model from traditional method to electronic method driven by their environment and tax regulation dgt has provided any form of assistance regarding tax e-filing system implementation across indonesia such as: seminar, technical workshop and capable tax staff appointment in all region supported by an adequate infrastructure individual taxpayers are willing to use e-filing system voluntarily because of certain reason such as: productivity, convenience, a comprehensive understanding regarding the importance of tax obligation fulfillment and government support through dgt individual taxpayers commit to apply tax e-filing system continuously, comply with their tax obligation and other tax regulation 38 journal the winners, vol. 20 no. 1, march 2019: 33-47 methods this research applies descriptive qualitative research approach. qualitative research requires a natural process to understand a phenomenon and investigators do not manipulate interest in the phenomenon are discussed (patton, 2002). meanwhile, the descriptive method is necessary to obtain comprehensive information about a phenomenon or an event (saunders, lewis, & thornhill, 2016). in connection with the data collection technique, this research applies thematic coding approach. thematic coding is utilized to identify a statement that constitutes a particular aspect, by which this research applies four utaut aspects. this approach uses a coding model of multiple data sources (robson & mccartan, 2016). accordingly, this research uses primary data sourced from the interview with individual taxpayers and sampling process using purposive sampling method, by which the age category is determined between 24-64 years old and own npwp. explicitly, these participants are classified with who reports his tax privately or does not rely on another individual taxpayer. moreover, the selection of the age category based on the need to gain a comprehensive interview about the acceptance level of the tax e-filing system by the individual taxpayer and the benefit of the efiling system that will enhance individual taxpayer compliance on their tax obligation. the age category of individual taxpayer participant indicates maturity in understanding the tax regulation, as the age of 24 is able to have npwp and must report their tax even though they were student due to the potential for additional income from interest income from the bank. the additional provision of this income stipulates in law no. 36 of 2008 on income tax (investment coordinating board, 2018). moreover, the authors create a series of questions linked to the four utaut factors; pe, ee, si, and fc including two additional elements; attitude and intentional behaviour (ib). the detail of the working paper can be seen in appendix a. in addition, the questions have been modified to harmonize with the utaut factors and research objectives. the authors thus conducting an interview and an individual assessment at the same time. yet, the interview process is recorded and made a transcript of the interview to be compared with the individual assessment, to assist the authors to make a preliminary conclusion. the time required for the interview process is three weeks. as an instrument of data processing, the qualitative data analysis software nvivo 12 is used. when processing the interview scripts using nvivo 12, the authors use keywords or coding to represent the participant response regarding the assessment of the tax e-filing system that has been classified into factors of utaut (pe, ee, si, fc, attitude, and ib). keywords that reflect participant answers which correspond with pe aspects, for example ‘system usage experience’ and ‘benefits’. furthermore, keywords that reflect the answer which corresponds with ee aspect such as ‘understanding the e-filing system workflow’ and ‘usability’. then, keywords as a reflection of the answer to the si aspect are divided into three terms; ‘empowered by the community’, ‘ empowered by regulation’, and ‘empowered by other factors’. furthermore, keywords to describe answers that correspond with fc aspects include ‘workshop’, ‘technical competencies’, and ‘infrastructure readiness’. in addition, the keyword that reflects the answers in conjunction with attitude aspect is ‘transition. ultimately, the keyword describing the ib aspect is ‘voluntary compliance’. in order to adjust the resource statement with keywords of each element utaut, the authors make a segmentation of each response to attached on the keywords. furthermore, the authors create a chart that demonstrates the percentage of each participant that has been classified for subsequent analysis according to the three categories; gender, age, and occupations. referring to the participant occupation, the authors diversify into five distinct areas; housewives, students, experts, employees, and pensioners. tax e-filing system acceptance…… (natasya, et al.) 39 results and discussions participants who are willing to be interviewed are 16 individual taxpayers consisting of one retired civil servant (pns), three housewives who have npwp separated from their husbands, three experts who are consisting of two consultants and a doctor, two students, and seven employees. in terms of occupation category, it is projected to sharpen the diversification of individual taxpayer argument on the e-filing system, adhered to the activities and roles that are being carried out. the authors then use an identification code as the identity of the participant. participant 1 is coded r1 and so on until the participant 16 is coded r16. details regarding the participant profile can be seen in figure 2. while from the occupation point of view, the analysis of the participant opinion can be seen in figure 3. figure 2 participant profile according to their age and occupation figure 3 assessment of the tax e-filing system according to the occupation category 40 journal the winners, vol. 20 no. 1, march 2019: 33-47 it can be seen from the chart that employees have given the majority response of the other occupation. employee participants appear to be more experience in using the e-filing system than other groups triggered by the demand comes from their workplace that required tax e-filing system usage. with a sufficient level of experience, the employee participants have gained significant benefits. the same response is also experienced by another participant who stated that the e-filing system has helped them related to time management, costs, and filing management. retired pns participant (r16) explicitly states that e-filing is not only beneficial for the individual taxpayers but also tax officers in terms of facilitating the mapping process of compliant and non-compliant taxpayers, potential new taxpayers through extensification program and potential tax mapping. the following statement is r16 response: “so, we did feel that reporting with the old system compared to the current e-filing system, in fact e-filing system really help taxation officers...this tax officer means dgt employees [...] ... very helpful for the tax officers in terms of their service..the extensification becomes effective and the individual taxpayer tax calculation pattern is detected, whether there is an avoidance or evasion.” another interesting response, employee participant (r7) chose tax reporting manually because of their inability to understand electronic tax reporting very well even though their experience and understanding of taxation are sufficient. nevertheless, this participant believes that e-filing is beneficial, especially related to the allocation of time and good accessibility. the complete r7 argument is: “great, so the government has begun to put all the tax regulations in order. you don’t need to come to the tax office anymore to queue up to submit your annual tax return ... [...] e-filling, i know, but i’m still not familiar to fill it in [...] i still prefer manually if possible. because of that, the manual system is easier. for tax consultant services, i might want to think about it first, that will be another cost [...] yes we have to be consistent. because we have already registered online.” having an adequate experience, this participant has a good understanding of tax e-filing and have no issues in its operation. this is quite a contrast response compared to an interviewee who is a housewive and two interviewees who are experts. these three participants are assisted by other parties, but they agree that the e-filing system is not difficult to understand and they commit themselves to try the system on the next tax return reporting period, as the opinion of expert participants (r15): “honestly because i got helped, i do not really understand how to fill it by myself ... but since everything is already electronically assisted, it is now easier with e-filling. by using e-filling, it is not complicated. we do not have to repeatedly consulting to the tax office... initial consultation may be necessary when filling it for the first time, after that is already run by the system ... so it is easier for those who fill it ... [...] i will definitely try ... if there is a problem, constraints and a solution provided for it i will try ... there has to be an assistance so must be easy to learn.” having sufficient experience and understanding of the use of e-filing, making the employee participants have a critical argument about the condition of the facility for the implementation of efiling. interestingly, the employee participant and other occupation have seen the issue of the e-filing socialization that is not equally distributed and right on target, followed by an explanation from the dgt tax officer regarding technical workshop of the e-filing implementation which is not yet sufficient. these two factors are needed to improve so that it will enable the e-filing system nationalization policy work well, although they also criticize the availability of human resources for tax officers and the availability of inadequate electronic devices and communication networks in several regions in indonesia, particularly in eastern indonesia. regarding the si factor, the employee participant prefers the publication of the percentage of e-filing usage as the main driving factor for taxpayers to use e-filing. tax e-filing system acceptance…… (natasya, et al.) 41 this response is different from the students, experts, and retired civil servants opinion that enforcing rules accompanied by punishment will effectively encourage the transition to the use of the e-filing system. referring to the housewives, the expert community has an equally important role in influencing other community to understand and use the e-filing system and comply with its tax obligations. although all participant agree that there are still some weaknesses in the implementation of the e-filing system, they state that the e-filing should be nationalized and become a single system for tax reporting. in addition, all participants commit to obediently use the e-filing system and be transparent in reporting taxes. an analysis of the level of e-filing system acceptance from the gender perspective becomes important in consideration with diverse responses following different character and mindset. thus, the individual taxpayer assessment of e-filing can be seen in figure 4. figure 4 assessment of the tax e-filing system according to the gender category participant in this research comprises of five males and 11 females. according to the chart, it shows the number of responses according to the proportion of participant per gender. if it is examined of each aspect of the utaut element, the female participants are dominant in delivering a statement that e-filing provides more benefit, it is easy to understand and not difficult to operate. this opinion is directly proportional to the number of female participants who dominate employee and student professions apart from housewives. this opinion also confirms the adequate experience the participants have, even though there are one male and two female participants who have not directly used e-filing but are committed to use it in the future. the interesting finding is that female participant prioritizes persuasive methods from people who are experienced in using e-filing, followed by news reporting and law enforcement. in general, housewive participants have activities that are appropriately related to social activities other than activities at home. the authors see that there is a positive correlation between the types of activity of the participants with responses regarding social factors to encourage the individual taxpayer to use e-filing following by the statement of one of the housewife participant (r5): 42 journal the winners, vol. 20 no. 1, march 2019: 33-47 “i am involved in social activities, become a treasurer in the pasundan church and also for a church community ... other than just being as a housewife ... [...] that is a rule, but besides that we are also a part of the community ... the government has been repeatedly promoting about e-filling... friends will certainly invite and teach us if it is really confusing.” regarding the attitude, female participants are more convinced that e-filing is worth to be nationalized than male participants. male participants emphasize the need for evaluation regarding the implementation of the e-filing socialization and training for the individual taxpayer before it is being nationalized. in addition, manual spt submission is still needed while ensuring all taxpayers understand and able to use the e-filing system. however, both male and female participants agree to obey and be more disciplined using e-filing and more transparent regarding their income data. in terms of the readiness of supporting facilities for the e-filing system, women highlight the issues of technical capabilities that needed to be accommodated by dgt tax officers in the availability of computer devices and the internet to facilitate the learning process of using tax e-filing system. on the other hand, male participants emphasize on the socialization of the regulation because almost all male participants argue that in the era of globalization, it is not difficult to access all relevant information. they argue that the tax officers must organizing the e-filing socialization, either from the dgt itself or assign tax officers to come to the regional representative office and carry out a regular seminar or technical workshop. the result of the individual taxpayer assessment of tax e-filing system according to the age category can be seen in figure 5. figure 5 assessment of the tax e-filing system according to the age category in this research, participants have diverse age. student participants are 25 years old, followed by employees who are in the age range of 25-35 years old. then, experts in the age range of 25-38 years old. the age range of housewive participants between 30 and 61 years old. a retired civil servant is 64 years old. with the classification of the age range that has been made by authors, the age of 25-38 years is categorized in the group ‘25-45 years’. in addition, participants with age 61 to 64 years old is entered the ‘56-64-year-old’ group. the age group of ‘25-45 years’ is marked with color blue, while the age tax e-filing system acceptance…… (natasya, et al.) 43 group of ‘56-64 years’ is marked with color green. the authors’ consideration in age group segregation emphasizes on the evaluation of the e-filing system based on productive and unproductive age, but it is classified as an active taxpayer because the participant owns npwp. referring to figure 5, it shows that the age group between 25-45 years old dominate response related to the e-filing system using the utaut perspectives. in general, the two age groups state that the e-filing system has enabled them to maintain their productivity. furthermore, the age group of 25-45 years old more emphasizes on timesaving while the other group points out cost saving and file management as the benefit of tax e-filing system. referring to the system usage experience, it can be seen that the age group of 25-45 years old are more experienced because of the demand comes from their place of activity. on the other hand, the age group of 56-64 years old tends to have less experienced. however, both participants are willing to voluntarily learn and use tax e-filing system in the future. regarding the social factor, it is clear that regulation and its publication becomes the most important issue for the age group of 25-45 years old as it is stated in the following statement of expert participant (r14): “referring to the middle-class people who are more tax literate ... let say to encourage ... yes ... because indonesia taxpayer sometimes need to be forced and punished ... to obey, if not they will be careless” meanwhile, another group argues that the active role of the community and tax officers as a driven factor for the transition process of tax return reporting from manual to e-filing model. the age group of 56-64 years old are dominated by retired civil servant and housewives. in their daily activities, this group more interacts with a various layer of society in the form of social activity. referring to this, the authors find a close relationship between their activities and the expressed opinion regarding the social factor. in the context of the readiness of e-filing supporting facilities, both groups collectively state that the readiness of capable dgt tax officer followed by availability in terms of equipment and a stable network, as well as the improvement of individual taxpayer technical capabilities, become the crucial factors in implementing the tax e-filing system. furthermore, the two groups agree that it is time for tax reporting mechanism to shift from manual to e-filing model. in addition, they will voluntarily comply and be more disciplined to disclose assets and taxes to be paid. with reference to the overall responses as well as arguments obtained from the three assessment model using utaut factors, it can be concluded that tax e-filing system is firmly accepted by 16 participants. this is aligned with participant commitment to voluntarily move from manual submission process to the advanced system. with reference to the research objectives, meanwhile, the research findings will be described related to each utaut factor. firstly, pe directly contributes to the transition of participant behavior (attitude) to use tax e-filing system. of the three assessment categories (occupation, age, and gender), all of them demonstrates the benefit of an e-filing system; it is supportive in terms of time-saving and cost efficiency. hence, participants are voluntary and willing to use e-filing as their tax reporting media. this result is consistent with the research outcome of schaupp, carter, and mcbride (2010); hakim (2016); lu and nguyen (2016); and dewi and yadnyana (2017), as taxpayer will voluntarily use the e-filing system if the tax submission process is more fluid and efficient than the manual process. secondly, ee directly contributes to the participant behavior (attitude) to apply the e-filing system. although a small number of participants are still assisted by others in filling out and submit their spt electronically, these participants have shown their attempt and willingness to be able to personally try the e-filing system and consistently report their spt through the e-filing system. the underlying factor is that the e-filing system is easy to understand and operate. furthermore, the automation process of tax calculation and the accuracy of tax calculation have assisted participants to clearly understand the potential tax obligations. in addition, e-filing is useful in terms of managing the spt document because it is filed electronically and paperless. this result has a more comprehensive 44 journal the winners, vol. 20 no. 1, march 2019: 33-47 dimension of response rather than the research outcome of hakim (2016), lu and nguyen (2016), and dewi and yadnyana (2017), where the ee aspect in the previous three research only emphasize on the ease of applying e-filing. thirdly, si directly contributes to the behavior of the participant (attitude) to use e-filing. referring to housewive and retired civil servant participants, invitation and advocation from the community are considered to be more sufficient to influence these participants to voluntarily understand and learn about the tax e-filing system. this response is similar with schaupp, carter, and mcbride (2010) findings. referring to students, employees and experts participant, extensive publication on the level of e-filing usage and more intensive e-filing socialization from dgt will deliver a significant impact on them to switch to use the e-filing system. this argument tends to be more informative and clear to justify the role of si to determine the acceptable level of the e-filing system than dewi and yadnyana (2017) findings. the research participant only emphasizes on an introduction of e-filing system from other associates and their social status, ignoring the possibility of the transition process in terms of tax submission method in the environment around the participant. meanwhile, lu and nguyen (2016) do not specifically explain the role of si in relation to the e-filing system usage intention in vietnam. fourthly, fc also directly contributes to a change in participant behavior (attitude). participant opinion from all categories (age, occupation, and gender) are more critical to the limitations of capable tax officer availability, infrastructure readiness in some areas and technical workshop or the e-filing system socialization. according to participant argument, if the facility can be provided adequately, it will be able to encourage the process of the e-filing system nationalization and discipline in using the e-filing system, particularly for the participant itself. this result is coherent with dewi and yadnyana (2017) findings. however, hakim (2016) in his research does not clearly evaluate fc for the use of efiling so that the results of his research are not related to aspects of fc. meanwhile, schaupp, carter, and mcbride (2010), as well as lu and nguyen (2016), ignore the fc factor as the determinant factor of e-filing implementation because of a more well-established infrastructure provided in each country. fifthly, attitude of the participant directly contributes to the participant ib. although there are still limitations and weaknesses in the e-filing system implementation, this does not become an obstacle for the participant to voluntarily report their taxes through the e-filing system and transparently report their source of income. the benefits and usefulness provided from the e-filing system are able to convince the participant to be more disciplined in using the e-filing system and comply with their tax obligation. this result is coherent with the positive contribution of pe, ee, si, and fc toward the change of the attitude of 16 individual taxpayer participant to use e-filing. in contrast, lu and nguyen research (2016) findings suggest that whether information confidentiality as the fc element able to provided by the vietnam tax e-filing system, the participant would be attracted to shift (attitude) from the manual submission process to electronic process and consistently uses e-filing system (ib). conclusions by and large, tax e-filing system has widely accepted by this research participant because of its several significant effects. it is beneficial for individual taxpayers to simplify their tax return reporting process. it saves time and able to reduce costs; hence it has increased taxpayer productivity. the tax efiling system is accessible and capable of delivering an accurate tax calculation. accordingly, it has stimulated the individual taxpayer participant to commit themselves to comply with tax e-filing system and be more disciplined in reporting their taxation obligation. referring to the change of taxpayer attitude, it is not relied only on the benefit that has been received but also from invitation derived by the community as well as dgt officer regarding the importance of reporting tax return through the e-filing tax e-filing system acceptance…… (natasya, et al.) 45 system. in addition, the e-filing system socialization and technical workshop are followed by infrastructure readiness that is conducted by competent dgt tax officers are vital to develop taxpayer awareness of their taxation obligation. it is also necessary to balance the need for national income and taxpayer expectation in which the reporting mechanism will be simplified. ultimately, the compliance level of the individual taxpayer to voluntarily submit their spt through the e-filing system highly depends on their attempt and willingness to shift from the traditional model to the electronic model. this transition will occur if taxpayers requirement is accommodated, such as comfortability, safety, and a comprehensive understanding while using tax e-filing system. as a recommendation, dgt needs to intensify their socialization and workshop program regarding the need of indonesia citizen, particularly individual taxpayer, to comply with tax regulation and promote the benefit of tax disclosure through e-filing system throughout indonesia. furthermore, electronic infrastructure needs to provided equally in all regions in indonesia. yet, the appointment of a capable tax officer is vital to develop people awareness on their understanding regarding taxation. on the other hand, the community should support government policy in terms of e-filing system nationalization throughout indonesia. furthermore, experience in relation to electronic tax submission model needs to be shared with other parties and 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(2015). the unified theory of acceptance and use of technology (utaut): a literature review. journal of enterprise information management, 28(3), 443-488. https://doi.org/10.1108/jeim-09-2014-0088. http://www.neraca.co.id/article/99267/sistem-pelaporan-e-filing-perlu-dievaluasi-ditjen-pajak-terima-lebih-105-juta-laporan-spt-wp-pribadi-2017 http://www.neraca.co.id/article/99267/sistem-pelaporan-e-filing-perlu-dievaluasi-ditjen-pajak-terima-lebih-105-juta-laporan-spt-wp-pribadi-2017 https://bisnis.tempo.co/read/1075511/jumlah-wajib-pajak-pribadi-pelapor-spt-masih-di-bawah-target https://bisnis.tempo.co/read/1075511/jumlah-wajib-pajak-pribadi-pelapor-spt-masih-di-bawah-target tax e-filing system acceptance…… (natasya, et al.) 47 appendix a interview working paper name of interviewee: gender : male/female date : age : occupation : time : tax id : aspects pe 1. what is your opinion regarding dgt modernization program to assist taxpayers in terms of reporting their tax return? 2. could you share your experience while you report your tax return manually?did you report it by using dropbox system or directly through tax office? 3. what do you know about tax e-filing system? how do you manage your tax return while using the system? 4. have you actively used the system? in your experience, does it provide more benefit than the previous system? you may elaborate your answer. ee 1. what was your first impression when you operated the system at the first time? did you get an assistance or did you do by yourself? 2. did you find any issues during the tax calculation process as well as reporting process in tax e-filing system?in your experience, what was the easiest and the hardest process to understand and learn? 3. e-filing tax system offers two models of reporting tax return. which one do you prefer?what advantage do you get from the model? 4. during the tax file uploading process, did you find any difficulties? if yes, would you describe the problem that you had in that step? 5. at present time, do you still use the tax e-filing system? do you hire a tax consultant to fill the tax return or only by yourself? 6. what kind of circumstances related to the tax e-filing system that may trigger taxpayers to return to the traditional process of tax return reporting? si 1. what is your argument regarding dgt policy which still allow individual taxpayer to report manually their tax return?what primary issue that might be the policy background? 2. have you ever read the tax e-filing regulation? is it important for you to understand the legal basis of tax e-filing implementation in indonesia? what factor do you think that will influence individual taxpayer to use the tax e-filing system? 3. the percentage level of tax e-filing system usage by individual taxpayer reach 80% since the launch of tax amnesty program in 2015. will the news motivate you to temporarily use the tax e-filing system? fc 1. what primary circumstance that will drive individual taxpayer to apply the tax e-filing system voluntarily? 2. have you ever attended the tax e-filing seminar conducted by dgt? if yes, what topic that you perceived as the important issue in relation to tax e-filing system implementation? 3. will you comply with the tax regulation in terms of reporting tax return electronically after you attended the seminar? attitude 1. in your opinion, what will be the benefit as well as the drawback outcome as the consequence of implementing the tax e-filing system throughout indonesia? has it adequate enough to obligate all individual taxpayer to apply the tax e-filing system? ib 1. will you consistently use the tax e-filing system and voluntarily report your tax obligation while you have obtained your expectation from the system? lists of question notes the impact of halal label …… (freddy pandapotan simbolon) 111 the impact of halal label, price, and brand on the purchase decision of bakso wagyu in kota wisata cibubur freddy pandapotan simbolon management department, bina nusantara university jl. k. h. syahdan no. 9, palmerah, jakarta11480, indonesia freddysimbolon@binus.ac.id abstract the objective of this research was to examine the impact of halal labels, prices, and brand on the purchase decision to buy bakso wagyu in kota wisata cibubur. it used associative research, and data were collected through a field survey from the bakso wagyu outlet in kota wisata cibubur. a set of questionnaires was distributed to 96 customers of bakso wagyu outlet in kota wisata cibubur. multiple regression analysis assessed the impact on purchase decisions of three key constructs of the halal label, price, and brand. the analysis method used correlation analysis, multiple regressions, and hypothesis testing. the results show three components, namely halal label, price, and brand, simultaneously have a significant influence on the purchase decision. however, the halal label was a variable. that are has the most dominant impact. this research indicates the results that halal labels are important for imported products that are consumed by indonesian people who are mostly muslim. keywords: purchase decision, halal labels, prices, brands introduction indonesia is a very potential market for the production and distribution of halal products. this is inseparable from the largest number of muslims in the world (afroniyati, 2014). in accordance with the 2019 the institute for food, drugs, and cosmetics studies of the indonesian ulema council (lpom mui), it is reported during the 2014-2018 period the total number of halal products was 591.604 with an average growth of 27,87% and a high growth increase in 2018 of 60,44%. this data shows the high demand for companies to increase the number of halal products to get halal certification from lpom mui. table 1 shows the halal product growth from 2014 to 2018. table 1 halal product growth from 2014 to 2018 years number of companies number of halal certification number of halal products growth of halal products 2014 10.180 10.322 68.576 6,95% 2015 7.940 8.676 77.256 12,66% 2016 6.564 7.392 114.264 47,90% 2017 7.198 8.157 127.286 11,40% 2018 11.249 17.398 204.222 60,44% total 43.131 51.945 591.604 27,87% source: lpom mui (2019) as quoted by ruslan (2017), halal comes from word of halaal in arabic, which the opponent of it is haram. in islamic teachings, the word halal means ‘allowed’ or ‘permitted’. usually, halal words mailto:freddysimbolon@binus.ac.id 112 journal the winners, vol. 20 no. 2, september 2019: 111-120 are referred to as foods and beverages that can be consumed according to sharia. at present, awareness for muslims in the world to consume products with the halal label is very high. similarly, according to permana (2019), from 2012 to 2018, a number of 688.615 halal certificates are issued by the food, drug, and cosmetics study institute of the indonesian ulema council (lppom mui). in addition, 55.626 companies have labeled halal; however, the number of certified products is still small compared to products that are not halal certified. in relation to halal label of food and beverage products, this research takes the theme of the effect of halal labeling on purchasing decisions for meatballs in the city of cibubur. in addition to the halal labeling variable, other variables that influence it are examined, namely price and brand. meatball menu is chosen because the object that is being studied uses bakso wagyu imported from japan to indonesia, which is a non-muslim country. bakso wagyu is a type of japanese beef that has a distinctive marble pattern. the name wagyu itself is taken from the japanese language ‘wa’, which means japanese, and ‘gyu’, which means meat. the meat is soft and very delicious to eat, besides that, bakso wagyu is very healthy for health because it contains omega-3 and 6, as well as monounsaturated fatty acids compared to other beef. bakso wagyu is sold at a price that is quite expensive because it has many advantages compared to other beef. the halal label is the main focus in this research due to indonesia as a country with the largest muslim population in the world, especially for the consumption of halal imported food. there are many companies that do halal label by arranging on product packaging. however, the question is to what extent the company has applied or provided education regarding this matter to the consumers. the problem that arises is that bakso wagyu is the meat from japan, so there is a bad perception from some customers that the meat has not been halal-certified, especially the issue that wagyu cows are fed with sake; a type of liquor from japan. the problem that exists in the customers’ minds is whether bakso wagyu is halal to be consumed by the indonesian muslim community. in relation to this condition, the importance of halal certification for the sale of bakso wagyu is an important concern for consumer purchase decisions. the second problem is the price. bakso wagyu has been very popular for steak and is one of the most expensive steak dishes. likewise, bakso wagyu, which is processed into bakso wagyu dishes, is, of course, priced at quite expensive, which is rp38.000,per serving, while ordinary meatballs with beef are priced at rp17.000,-. a large price difference will certainly impact consumer purchase decision to buy bakso wagyu. the third problem is the brand. bakso wagyu is a new brand that is packaged as a premium class. the price given is quite expensive because it uses bakso wagyu’s quality to guarantee the best meatball taste. in addition, a business space that is comfortable and seems exclusive. the new brand by selling bakso wagyu is also a challenge that can impact the consumer purchase decision. based on the phenomenon mentioned, the existence of bakso wagyu becomes interesting to study. first, because the meatballs used bakso wagyu are imported from japan, which is mostly nonmuslim so that the meat may be doubtful. second, bakso wagyu is known as meat with a fairly expensive price, and thirdly, related to a new brand with the name of bakso wagyu will be a challenge to consumer purchasing decisions. so the formulation of the problem of this research is how the impact of halal labeling, price, and brand on consumer purchasing decisions of bakso wagyu in kota wisata cibubur. to determine the research model, a retail study of three researches is conducted. bulan and rizal (2016) have discussed the effect of halal labeling on sausage purchase decisions in kuala simpang, aceh tamiang regency. the sampling method uses an accident sampling method with a total sample of 96 people, and the analysis method uses a simple regression analysis. this research provides results that halal labeling contributes 33,5% in sausage purchasing decisions in the area, while the remaining 66,5% is influenced by other variables. other research is conducted by widyaningrum (2018) that has researched the effect of halal labels, brand associations, advertisements, and celebrity endorsers on purchasing decisions. the survey the impact of halal label …… (freddy pandapotan simbolon) 113 is conducted on wardah cosmetics consumers in malang, concluding that there are positive and significant influences among researched variables. the research uses a survey method for wardah cosmetic users in malang city, with probability sampling methods as many as 57 respondents, and the data analysis method is used to prove the hypothesis using general structured strengthened component analysis (gsca). the results of the research indicate that the purchasing decision that can be explained by the model is 72,5%, and the rest (27,5%) can be explained by other variables. these results provide an indication that muslim consumers tend to choose products that are declared halal compared to products that have not been declared halal by authorized institutions, no exception in terms of purchasing cosmetics. cosmetics is one purchase that emphasizes the involvement of feelings (emotional), so that sometimes a figure or idol (celebrity), who becomes the brand ambassador in a cosmetic ad can stimulate purchases. the relationship of halal labels to advertising, celebrity endorsers, brand associations, and purchasing decisions is how marketers create products that are halal and certified so that muslim consumers feel protected to consume them. subsequent research is conducted by alfian and marpaung (2017), namely research on the analysis of the effect of halal, brand, and price labels on purchasing decisions in medan. research is done by taking samples of muslim consumers in the medan petisah sub-district, and analysis methods use multiple regression that results in that around 65,1% of the halal label variables, brand image, and price influences muslim consumer purchasing decisions in medan, while 34,9% is explained by other factors. from the three researches mentioned, it can be concluded that all three use the same analysis method, namely regression, with the same three independent variables, namely halal label, brand, and price, but the difference between the three researches is the results obtained. the research conducted by bulan and rizal (2016), who only uses one halal labeling variable, contributes only 33,5% to purchasing decisions, but the other two researches are using more than one independent variable that contributes 72,5% and 65,1 %. so, it can be concluded that a halal labeling variable contributes quite a large amount of 33,5% to purchasing decisions. it means that the importance of halal labeling in consumer purchasing decisions. likewise, wibowo and mandusari (2018) have researched muslim communities in pekalongan in deciding on food purchases. halal labeling is very instrumental in increasing sales of a product to attract the purchasing power of muslim consumers. according to them, the purchase decision can function as a measure of the extent of sales of products that have been determined halal with products that have no clarity between halal and haram. halal marketing is one of the preferences of consumers to decide to buy a product because through the halal concept; consumers can gain trust in products that are hygienic, quality, and safe (ambali & bakar, 2014). another research is conducted by ashmawy (2015) that has said halal marketing is an important part, not only for muslim consumers but also for nonmuslims in understanding the buying behavior of muslim consumers. in addition, according to mohezar, zailani, and zainuddin (2016), the halalness of a product has helped consumers in making product selection decisions. likewise, khan and azam (2016) have researched that labeling halal is one aspect of the product selector that will be purchased by consumers. so based on this, halal labeling of a product is one factor in making consumer purchasing decisions. consumer behavior is buying behavior from end consumers, both individuals, groups, and organizations that buy goods and services for the purpose of consumption or personal use (kotler & armstrong, 2014). in addition, according to rafiz, arifin, and hidayat (2016), purchasing decisions is one of the activities carried out by each person in each time and place to buy something according to their choice. in deciding this purchase, it is considered as an action taken after an evaluation of all available alternatives has driven the desire to buy. rafiz, arifin, and hidayat (2016) have said that purchasing decisions are a selection of two or more choices. complex decision-making processes often involve several decisions and choices between two or more alternative actions. so, based on the opinions of various sources, it can be concluded that purchasing decisions are made after the evaluation of various 114 journal the winners, vol. 20 no. 2, september 2019: 111-120 choices and considerations, where an integration process occurs. it combines knowledge to evaluate two or more alternative behaviors, so it is decided to choose one of them. the results of this integration process are choices that are presented cognitively as desires to behave. according to bulan and rizal (2016), the understanding of halal according to the ministry of religion contained in the decree of the minister of religion of the republic of indonesia number 518 of 2001, concerning inspection and determination of halal food is not contrary to islamic law. the importance of halal certification, as revealed by afroniyati (2014), halal certification is a policy that has its history and arises as a solution to major issues in the field of religion as well as economic problems. chairman of the indonesian ulema council, hasan basri, has said that halal certification in indonesia is motivated by the research of tri sutrisno, a lecturer at universitas brawijaya, along with several students related to food in several supermarkets. from the results of these researches, it is found several components of food ingredients containing pig elements. when the results of this research are raised and announced to the public, the community becomes an uproar. the issue becomes increasingly developed in various other types of food beyond the results of the research. other literature revealed by afroniyati (2014), basically indonesia, already has several regulations that can help protect muslims from illicit products. like law no. 7 of 1996 is concerning food, law no. 8 of 1999 is concerning consumer protection, and decree of the minister of religion no. 519 of 2001 concerning the implementing agency for halal food inspection. in addition, there is also a charter of cooperation between the ministry of health, the ministry of religion, and the mui concerning the implementation of the inclusion of halal labels on food in 1996 (in the form of halal writing in arabic letters). however, until now, the government has not given sanctions to companies for non-compliance with halal certification; this is because it has not been regulated in civil or criminal terms. halal certification shows the protection of the interests of muslims that lead to formal law. protection in formal law shows that the legal content created by religion has been reduced and is less strong in regulating more real relationships in the life of the state. bulan and rizal (2016), in their research, has stated that halal labeling is not a concern of consumers because they lack understanding or lacked information about food products that have included halal labels. for this reason, the government still needs to provide information about this halal label to the mainly muslim community. alfian and marpaung (2017) have explained the meaning of price is the amount of money charged on a product or the sum of the consumer’s exchange value for the benefits of having or using the product. thus the definition of prices, when viewed from the marketing side, is adjusted to how much the benefits that felt by consumers. the price of a product becomes more expensive if it provides great benefits for consumers. when examined from an economic perspective, prices are determined by the producer and consumer side. according to fatoni (2014) in alfian and marpaung (2017) has stated that prices and product competencies are formed to fulfill the goals of two parties, namely producers and consumers. manufacturers perceive as the value of goods that are able to provide the benefits above the cost of production (or other purposes such as profits). consumers view prices as the value of goods that capable of providing benefits for meeting their needs and desires (e.g., savings, prestige, payment terms, and so on). according to alfian and marpaung (2017), prices can also show the quality of the brand of a product, where consumers assume that expensive prices usually have good quality. if the company does not set the price right, then this will be fatal in the future. prices will always be associated with product quality; if the price set is not in accordance with the quality, it will affect the decision of consumers to buy. it can be concluded that at a certain price level, if the benefits perceived by consumers increase, the value will increase as well so that consumers’ decisions to make purchases of these products will increase. similarly, yoon et al. (2014) have said that the price of a product will be of high value if it is supported by promotions that have an impact on increasing consumer interest in buying. the research conducted by adyanto and santosa (2018) also proves that the price aspect is one aspect that has a significant effect on purchasing decisions. the impact of halal label …… (freddy pandapotan simbolon) 115 related to the brand, according to kotler and armstrong (2014), a brand is a name, term, symbol, design, or a combination of one part that identifies a product or service from one seller or group of sellers, and distinguishes it from competitors. in addition, the brand will help consumers identify products that can provide benefits to them. this means that the brand is an asset owned by the company as a sign of the business or product or also the services that the company has to make it easily recognizable by the customer and also as a differentiator with the products or services of other companies. othman, shaarani, and bahron (2016) have said that a famous and trusted brand is an invaluable asset. brands develop into the largest source of assets and are important factors in the company’s marketing activities. the most unique expertise of professional marketers is their ability to create, maintain and protect, and enhance brands. the brand that attracts consumers’ attention is by making the product look unique and easy to remember, making it easier for consumers to make choices. moreover, brands that create strength, uniqueness, and preferences in consumers’ minds will lead to loyalty to the brand. in addition, othman, shaarani, and bahron (2016) have revealed that customers tend to choose brands that are well known because they feel safe with something known and think the brand is likely to be reliable and the quality can be accounted for. thus the brand is thought to influence purchasing decisions. the better the brand image for consumers, the greater the decision to purchase food products with the brand. likewise, in the opinion of graeff (1996), such rapid market development encourages consumers to pay more attention to the brand image than the physical characteristics of a product in deciding a purchase. the brand is one aspect that has an influence on consumer purchasing decisions. this is as conveyed by sinaga and pramanda (2018) that consumer purchasing decisions are influenced by the brand of an item, so the rise and fall of consumer decisions to buy goods are strongly influenced by the brand attached to the product. the research objective can be formulated as; (1) there is the impact of the halal label on purchase decision at bakso wagyu in kota wisata cibubur. (2) there is the impact of price on purchase decisions at bakso wagyu in kota wisata cibubur. (3) there is the impact of brand on purchase decisions at bakso wagyu in kota wisata cibubur. (4) there is the impact of the halal label, price, and brand on the consumer purchase decision to bakso wagyu. figure 1 shows the three key constructs of the halal label, price, and brand, which are hypothesized to influence consumer purchase decisions. figure 1 the research framework halal label (x1): 1) bakso wagyu is halal guaranteed. 2) bakso wagyu meets halal standard. 3) meat processed is in accordance with the halal standardization. 4) halal logo are printed on the restaurant board price (x2): 1) price of bakso wagyu in accordance with the taste. 2) price of bakso wagyu is in accordance with the quality of service. 3) more competitive than other close competitors. 4) the price does not disappoint me brand (x3): 1) the image of quality taste. 2) a sense of trust. 3) easy to remember. 4) the attraction for buyer loyaty purchase decision (y): 1) compared to other meatballs, bakso wagyu is my favorite choice. 2) i choose bakso wagyu because they guaranteed halal. 3) i choose bakso wagyu because of trusted brand. 4) i choose bakso wagyu because the price matches the taste quality h1 h2 h3 h4 116 journal the winners, vol. 20 no. 2, september 2019: 111-120 the alternate hypothesis which is a statement expressing a relationship between two variables or indicating differences between groups can be described: h1: there is the impact of halal label to consumer purchase decision at bakso wagyu outlet in kota wisata cibubur. h2: there is the impact of price to consumer purchase decision at bakso wagyu outlet in kota wisata cibubur. h3: there is the impact of brand to consumer purchase decision at bakso wagyu outlet in kota wisata cibubur. h4: there is the impact of halal label, price, and brand to consumer purchase decision at bakso wagyu outlet in kota wisata cibubur. methods the type of research is associative research. based on the purpose and nature, this research is classified as explanatory research. rafiz, arifin, and hidayat (2016) have said that explanatory research is a study that explains the causal relationship between two variables, namely independent variables that affected the dependent variable. according to the level of expansion, that is how the variables studied would explain the objects studied through the collected data that could be classified into associative research. sources of data use primary data, namely data obtained by getting directly from respondents who came for meals by using a questionnaire through a field survey at bakso wagyu in kota wisata cibubur. the data collection period is two weeks in the second and third week in june 2019. the method of collecting data uses a closed questionnaire that provides answers using five likert scales, starting with a scale of 1 means strongly disagree to scale 5, which states strongly agree. the sampling technique uses the accident sampling method, which according to amalina and khasanah (2015), it explains the accident sampling is the selection of samples based on coincidence, i.e., anyone who accidentally meets with the researcher and is seen by the person to be suitable as a respondent would be used as a research sample. respondents involved in this phase are culinary consumer volunteers at bakso wagyu outlet in kota wisata cibubur. therefore, the formula for the sampling unit is: n = (za/2) 2 pq / e2 n = the number of samples z = a large normal standard value depending on a = 0,05, so it is obtained z=1,96 q = 1-p, which p uses a value of 0,05 e = a deviation tolerated at 0,1 a 95% confidence interval around the population estimate of change is about +/-2 standard errors around the estimate calculated from the sample. if the 95% confidence interval excludes zero, then it can be described the difference as ‘statistically significant’ at the 5% level (i.e., there is a less than 5% chance that the difference is due to sampling error alone). all tests of statistical significance of change are made at the 5% level. then the calculation is obtained: n = (1,96)2 (0,5) (0,5) / (0,1)2 n = 96 respondens. furthermore, the data analysis methods are using correlation test analysis, multiple regression, and hypothesis testing by using the t-test with the program spss 22 for the statistical analysis. the multiple regression equations to be tested are: the impact of halal label …… (freddy pandapotan simbolon) 117 y = a + b1x1 + b2x2 + b3x3 + e y = purchase decision x1 = halal label variable x2 = price variable x3 = brand variable e = random error results and discussions correlation is used to test relationships between quantitative variables. the study of how variables are correlated is called correlation analysis. correlation analysis for each independent variable on the purchase decision variable, is stated in table 2. table 2 correlation analisys no variable value of correlation with purchase decision significance level 1 halal label (x1) 0,612 0,001 2 price (x2) 0,575 0,001 3 brand (x3) 0,464 0,001 4 correlation of overall variables (r) 0,745 0,001 5 r square 0,555 0,001 source: spss version 22 it is shown that the halal label variable (x1) has the highest correlation coefficient of 0,612 with a significance level of 0,001; it means that there is a strong significance between the halal label and purchase decision. while the price variable (x2) has a correlation coefficient of 0,575 with a significance level of 0,001, that means there is a significant correlation between price and purchase decision. similarly, for brand variables (x3), it has a correlation coefficient of 0,464 with a significance level of 0,001, which means there is a strong significance between the brand and the purchase decision. overall, the three independent variables have a correlation coefficient (r) of 0,745 with a significance level of 0,001, which means that overall, the three variables studied significantly correlate strongly with the purchase decision. so that, the value of r-square (r2) for the three independent variables on purchase decisions is 0,555, which means that the three research variables contributed 55,5% in consumer purchasing decisions in the purchase of bakso wagyu in kota wisata cibubur. the remaining 44,5% is influenced by other variables that are not examined in this research. based on the results of multiple regression analysis using spss processing, the results are shown in table 3. table 3 regression analysis no variable beta coefficient value significance level 1 constanta 0,132 2 halal label (x1) 0,377 0,000 3 price (x2) 0,346 0,000 4 brand (x3) 0,252 0,003 5 fhit 38,261 0,000 source: spss version 22 analysis 118 journal the winners, vol. 20 no. 2, september 2019: 111-120 the regression equation decision on purchasing bakso wagyu in kota wisaya cibubur can be seen as follow: y = 0,132 + 0,377x1 + 0,346x2 + 0,252 x3 the multiple regression equation explains that the halal label variable (x1) is a variable with the largest beta coefficient value that is equal to 0,377 and with a significance level of 0,000. this value implies that the halal label is the dominant variable that influences consumers in the decision to buy bakso wagyu. other variables that have a significant effect are price with a beta coefficient value of 0,346 and a brand variable with a beta coefficient of 0,252. to test the hypothesis, the f calculation results are used with a coefficient of 38,261 and a significance level of 0,000 (smaller than the specified significance level of 0,01). this result gives the meaning to reject the null hypothesis, which means that halal label, price, and brand impact simultaneously to the consumer purchase decision. bakso wagyu is in accordance with the halal standardization. the results of this research are supported by earlier researches, such as khan and azam (2016) that labeling halal is one aspect of the product selector that will be purchased by consumers. ambali and bakar (2014) have pointed out that halal marketing is the guarantee for consumers to decide to buy a product because through the halal guarantee, consumers can gain trust in products that are hygienic, quality, and safe. the second variable that has a significant impact on purchasing decisions is the price. the price of bakso wagyu is in accordance with the taste and more competitive than other competitors’ meatballs. according to alfian and marpaung (2017), prices can also show the quality of the brand of a product, where consumers assume that expensive prices usually have good quality. the latter variable is a brand that has a significant impact on purchasing decisions. from the foregoing, it is clear that bakso wagyu’s brand is the variable that can explain significantly consumer’s purchase behavior based on the image of quality taste, a sense of trust, easy to remember, and the attraction of buyer loyalty that make the consumers prefer wagyu bakso in kota wisata cibubur. hence, they have a positive image of bakso wagyu in their minds. the results of this research are supported by earlier research, such as othman, shaarani, and bahron (2016) have revealed that customers tend to choose brands that are well known because they feel safe with something known and think the brand is likely to be reliable and the quality that can be accounted for. conclusions the research findings show that (1) there is the impact of the halal label on purchase decisions at bakso wagyu in kota wisata cibubur. (2) there is the impact of price on purchase decisions at bakso wagyu in kota wisata cibubur. (3) there is the impact of brand on purchase decisions at bakso wagyu in kota wisata cibubur. (4) there is the impact of the halal label, price, and brand on the consumer purchase decision to bakso wagyu. this research has shown a change in consumer buying behavior in switching from non-halal label to the halal label. this change in behavior is due to bakso wagyu’s ability to successfully build a halal label as the dominant variable for its food at bakso wagyu outlet in kota wisata cibubur. consumer purchasing decisions are influenced by label halal guarantee that can gain trust in products that are hygienic, quality, and safe. the research has limitations; namely, only one outlet is examined, and hence, findings cannot be generalized. future research can look at promotion, the choice of location, and the quality of service on purchase decisions. the impact of halal label …… (freddy pandapotan simbolon) 119 references adyanto, b. a., & santosa, s. b. 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41.800 cattles for 19.000 farmers, 20.000 goats for 9 000 farmers, construct infrastructures (village road system, livestoc holding ground, etc), facilitate agroinputs for 28,000 package, training and extensions, and more others with total cost about us$ 34,200,000. the area covers south sulawesi, north sulawesi, gorontalo , maluku, and north east maluku. total number of samples which have been taken for the survey were 162, which consist of 27 women, 63 farmers, 18 project staf, and 18 respondent from outside project. the result from the survey has shown that farmers have got benefits from project and their income has increased. 79% farmers has satisfied with the credit they have received already, however, the repayment has moved slowly. eventhough they have raised only chicken, however, the farmers’ food nutrient has increased already. keywords: micro economy, integrated project, livestock, food crop abstrak evaluasi dampak proyek terpadu analisis mikro peternakan dan pertanian pangan memfokuskan pada peingkatan pendapatan petani, peningkatan gizi petani, dan partisipasi perempuan. analisis makro juga telah digunakan untuk mempelajari masalah desentralisasi. proyek tersebut telah memberikan 41.800 ternak untuk 19.000 petani, 20.000 kambing untuk 9.000 petani, membangun infrastruktur (jalan raya desa, tanah milik peternak, dan lain lain), pelatihan, dan kegiatan lainnya yang menghabiskan dana sekitar 34.200.000 dolar amerika. areanya meliputi sulawesi selatan, sulawesi utara, gorontalo, maluku, dan maluku timur laut. sampel yang diambil sebanyak 162 orang yang terdiri dari 27 perempuan, 63 petani, 18 staf prroyek, dan 18 responden dari luar proyek. hasilnyaa, petani memperoleh manfaat dari proyek tersebut dan pendapatan mereka meningkat. 79% petani sangat puas dengan pemberian kredit yang mereka terima meskipun pembayaran cicilannya sedikit lambat. gizi para petani juga meningkat. kata kunci: ekonomi mikro, proyek terpadu, peternakan, pertanian pangan 1 peneliti senior balitbang deptan ri & staf pengajar fakultas ekonomi, ubinus, jakarta journal the winners, vol. 3 no. 2, september 2002: 161-187 162 pendahuluan dalam rangka pemerataan pembangunan di indonesia, kawasan timur indonesia (kti) merupakan kawasan yang menjadi prioritas untuk dipacu pengembangannya guna memperkecil ketinggalannya dari kawasan barat atau kawasan lainnya di indonesia. percepatan pembangunan di kawasan itu dapat menyeimbangkan derap pembangunan di indonesia, sekaligus memanfaatkan potensi yang tersedia di kawasan itu untuk meningkatkan kesejahteraan masyarakat luas. salah satu upaya pemerintah untuk mempercepat pembangunan kawasan timur indonesia itu adalah dengan melaksanakan proyek pengembangan usaha tani dan ternak (putkati) di kawasan itu. proyek pengembangan usaha tani dan ternak merupakan proyek terpadu yang melibatkan tiga subsektor, yaitu subsektor peternakan sebagai leading subsektor dan subsektor perkebunan dan tanaman pangan dan hortikultura sebagai subsektor pendukung. tujuan proyek adalah meningkatkan pendapatan petani berpendapatan rendah dilokasi proyek; pembangunan usaha tani sebagai unit usaha terpadu; pemanfaatan sumber daya lahan secara berdaya guna dan berhasil guna; meningkatkan populasi ternak dan pemerataan pendapatan petani. dalam rangka mencapai tujuan tersebut, proyek pengembangan usaha tani dan ternak (putkati) mengembangkan dan melaksanakan berbagai komponen kegiatan diantaranya adalah (a) penyebaran ternak sapi sebanyak 41.800 ekor kepada 19.000 petani dan 20.000 ekor kambing kepada 9.000 petani; (b) membangun dan meningkatkan prasarana dan sarana penunjang yang meliputi empat buah holding ground, 14 buah satuan pelayanan terpadu, 9 buah poskeswan, 33 pos pembantu pelayanan kesehatan hewan dan pembangunan jalan desa 100 km dan lima buah jembatan gantung; (c) menyediakan agro input sebanyak 28 000 paket; (d) mengadakan fasilitas penunjang yang melliputi kendaraan bermotor, peralatan pertanian, peralatan penyuluhan, peralatan kantor dan peralatan ib; (e) meningkatkan kelembagaan petani; (f) meningkatkan pengetahuan dan keterampilan petani dan petugas proyek melaui pelatihan dan penyuluhan; (g) pengembangan produksi vaksin penyakit jembrana di bpph denpasar melalui penyediaan peralatan laboratorium; (h) menyediakan jasa konsultan. pembiayaan proyek seluruhnya berjumlah us$ 34,260,000. yang berasal dari dana ifad sebesar us$ 13,800,000; idb us$ 6,8484,000. pemerintah new zealand sebesar us$ 1,401,000. dan dana pemerintah ri sebesar us$ 12,208,000. evaluasi dampak proyek didesain untuk menyusun suatu data dasar (base line data) tentang sumber daya pertanian yang ada di lokasi proyek yang meliputi sumber daya ternak, usaha tani, sumber daya manusia (petani dan petugas), kelembagaan petani, pola pertanian, pendapatan, serta faktor sosial kelompok sasaran (target group) yang terlibat dalam proyek. data tersebut dipergunakan sebagai suatu standard penelitian dalam mengevaluasi dampak proyek. dampak proyek yang akan dievaluasi didasarkan pada rekomendasi hasil supervisi unops yang meliputi peningkatan gizi dan ketahanan pangan keluarga, peranan wanita tani dalam menunjang kegiatan proyek, dampak proyek terhadap peningkatan pendapatan keluarga, dampak pelatihan petani/kelompok tani dan staf proyek terhadap peningkatan sumber daya manusia dalam menunjang pelaksanaan kegiatan proyek, dan pengaruh desentralisasi terhadap pelaksanaan proyek. 163evaluasi ekonomi mikro: dampak proyek… (budiman notoatmojo) pembahasan tujuan evaluasi ekonomi mikro dampak proyek i. tujuan evaluasi 1. untuk mengukur manfaat sosial dan ekonomi yang diperoleh petani peserta dengan adanya proyek yang meliputi berikut ini. a. peningkatan pendapatan petani melalui sistem usaha tani terpadu dengan adanya penyebaran ternak dan agro input. b. peningkatan gizi dan ketahanan pangan keluarga. c. peningkatan harkat wanita (jender) melalui keterlibatan wanita tani secara aktif baik dalam kegiatan proyek, maupun kegiatan sosial lainnya. d. peningkatan sumber daya manusia, pengetahuan, dan keterampilan, serta sikap (petani dan staf proyek) melalui pelatihan dan pembinaan. 2. mengidentifikasikan hambatan atau kelemahan dalam pelaksanaan kegiatan proyek yang mempengaruhi pencapaian tujuan proyek. 3. meneliti pengaruh kebijakan desentralisasi terhadap organisasi dan manajemen proyek dan pelaksanaan kegiatan di lapangan. ii. kegiatan yang dilaksanakan dalam upaya mengadakan evaluasi ekonomi mikro dampak proyek putkati maka dilakukan kegiatan berikut. 1. mengidentifikasi dampak proyek terhadap peningkatan gizi dan ketahanan pangan keluarga dengan mengukur tingkat produksi pangan melalui sistem usaha tani terpadu, pola menabung individu maupun kelompok, keterlibatan wanita tani dalam mendukung usaha tani. 2. melakukan evaluasi terhadap dampak realisasi pelaksanaan pelatihan dalam upaya peningkatan sumber daya petani dan staf proyek. 3. melakukan evaluasi dampak ekonomi terhadap pengembangan masyarakat penerima bantuan (beneficiaries community development) yang meliputi pemanfaatan ternak dalam mendukung pola usaha tani terpadu dalam kelompok, peningkatan pendapatan petani melalui usaha tani terpadu, pengembangan kelompok, dan lain-lain. 4. melakukan evaluasi terhadap kebijakan desentralisasi yang mempengaruhi pelaksanaan proyek. 5. berdasarkan hasil evaluasi, menyusun rekomendasi bagi pelaksanaan proyek selanjutnya. iii. keluaran (output) output studi evaluasi ekonomi mikro dampak proyek sebagai berikut. laporan hasil evaluasi dampak proyek yang disusun dalam bahasa indonesia dan bahasa inggris yang berisikan (1) hasil evaluasi ekonomi mikro dampak proyek dengan rekomendasinya; (2) rekomendasi bagi pelaksanaan proyek selanjutnya; (3) rekomendasi bagi penyusunan laporan akhir proyek (project completion report); (4) format base line data usaha tani. journal the winners, vol. 3 no. 2, september 2002: 161-187 164 metode penelitian i. pendekatan pendekatan yang dipakai meliputi aspek (1) lokasi penelitian; (2) klasifikasi wilayah penelitian berdasarkan zona; (3) kerangka penarikan contoh dan jumlah responden; (4) pengelompokkan rumah tangga petani berdasarkan luas penguasaan lahan dan pendapatan per kapita; dan (5) metode analisis data. hasil analisis dijadikan dasar untuk mengevaluasi dampak proyek putkati pada masing-masing wilayah. pendekatan logical framework (log-frame) digunakan agar kegiatan ini dapat dilaksanakan dengan hasil yang terukur (accountable) log-frame baseline disajikan pada lampiran i yang mencakup tujuan akhir (goal), manfaat (outcomes), luaran (outputs) kegiatan (activities) (fardiaz dkk., 1999). benchmark survey didasarkan pada hasil surpervisi unops. survey dilakukan dengan kuesioner terstruktur dan semi struktur. pengumpulan data primer di tingkat petani maupun informan kunci dilakukan dengan wawancara yang mencakup berikut ini. 1. sumber daya yang ada; 2. penggunaan sumber daya; 3. rumah tangga; 4. sasaran dan keinginan (di) rumah tangga petani; 5. komunitas; 6. dukungan kelembagaan; 7. masalah dan kendala; 8. kesempatan untuk perbaikan/pengembangan. ii. lokasi penelitian lokasi proyek meliputi propinsi sulawesi utara (kabupaten minahasa, bolaang mongondow), propinsi gorontalo (kabupaten gorontalo dan bualerno), propinsi sulawesi selatan (kabupaten bulukumba, polmas, mamuju, luwu, dan luwu utara). iii. klasifikasi dampak proyek klasifikasi dampak proyek berdasar rekomendasi hasil supervisi unops yang meliputi peningkatan gizi dan ketahanan pangan, peranan wanita tani, pendapatan keluarga tani, hasil pelatihan, dan pengaruh desentralisasi dari hasil pelaksanaan proyek iv. penarikan contoh dan metode analisis penarikan contoh acak lengkap berdasar klasifikasi dampak dan target group maka system stratified purposive random sampling akan dilakukan. stratifikasi berdasar target group penerima proyek dan tidak penerima proyek, petani, wanita tani, staf proyek (untuk dampak pelatihan) staf di dalam dan di luar proyek (untuk dampak desentralisasi), dan stratifikasi berdasar lokasi. secara skematis pelaksanaan survei di tingkat propinsi, kabupaten dan di desa lokasi usaha tani digambarkan dalam bagan 1 berikut. 165evaluasi ekonomi mikro: dampak proyek… (budiman notoatmojo) tahap konfirmasi dan penyimpulan i. nasional tahap pengumpulan data ii. propinsi 1. data sekunder 2. data primer 3. data kepustakaan desentralisasai versi terhadap proyek hasil pelatihan propinsi proyek iii. kabupaten – staf proyek 1. data sekunder 2. data primer 3. kepustakaan desentralisasai versi terhadap proyek hasil pelatihan personil organisasi proyek perkembanagn proyek kabupaten lokasi proyek iv. kecamatan pemilihan kecamatan v. desa pemilihan desa vi. responden petani sampel data primer pendapatan petani-pola menabung peningkatan gizi dan ketahanan pengan peranan jender pemasaran produk pemanfaatan ternak dan kompos hasil pelatihan perkreditan ternak pemilihan petani sampel bagan 1 prosedur survei evaluasi dampak proyek secara struktur hierarkis di propinsi sulawesi utara, gorontalo, dan sulawesi selatan journal the winners, vol. 3 no. 2, september 2002: 161-187 166 survei dilakukan dengan kuesioner terstruktur dan semi-struktur. pengumpulan data primer di tingkat petani maupun informan kunci dilakukan dengan wawancara yang mencakup (1) karakteristik rumah tangga tani; (2) struktur penguasaan lahan; (3) struktur pendapatan; (4) struktur pengeluaran; (5) tingkat penerapan teknologi dan struktur ongkos; (6) persepsi petani; dan (7) kendala. jumlah responden mencapai 162 yang terbagi atas wanita tani 27, petani 63, staf proyek 18, dan staf diluar proyek 18, dan respoden di luar proyek sebanyak 36 orang. di samping itu, dilakukan wawancara kepada kelompok tani, kelompok petani putkati, dan kelompok wanita tani/arisan/simpan pinjam. metode analisis yang digunakan adalah analisis before dan after proyek, yang didasarkan pada rekomendasi hasil supervisi unops. analisis deskriptif dan tabulasi silang digunakan untuk memperoleh informasi yang komprehensif tentang data hasil evaluasi dampak proyek. analisis finansial digunakan untuk membangun struktur usaha tani beberapa komoditas unggulan. untuk mengukur indikator dampak digunakan analisis regresi multifaktor dan pembanding antara data dasar dan data akhir proyek, data di dalam proyek, dan di luar proyek. indikator pendapatan petani diukur melalui analisis usaha tani. adapun analisis regresi terinci sebagai berikut. data yang dikumpulkan adalah data time series (sebelum dan sesudah proyek) dan cross section (antara lokasi). dari hasil analisis data dan survei lapang ternyata variabel y dan x1 perlu determinasi lebih lanjut sehingga fungsi regresi terobah sebagai berikut. pakhir = ao + a1pawal + a2pter + a3 wanita + a4 latihan + a5 gizi + a6 kredit + a7 desent + μ pakhir = pendapatan akhir petani setelah mendapatkan paket agroinput (rp.000,-) (ex-post analisis) pawal = pendapatan petani sebelum mendapatkan agro-input (rp.000,-) (ex-ante analisis). pter = pendapatan usaha ternak dari hasil pengelolaan paket proyek (rp.000,-) wanita = dampak peranan wanita petani proyek (hasil scoring) latihan = dampak pelatihan yang diberikan pada petani proyek (hasil scoring) gizi = dampak perubahan gizi petani proyek (hasil scoring) kredit = akses pengembalian kredit sesuai rekomendasi (hasil scoring) dan, desent = pengaruh desentralisasi (peubah dummy dimana 0 = lokasi yang belum aktif dalam pengelolaan proyek, 167evaluasi ekonomi mikro: dampak proyek… (budiman notoatmojo) dan 1 = lokasi yang telah aktif dalam pengelolaan proyek) ao = intersep a1, a2, a3,a4,a5, a6, a7 = parameter estimasi μ = peubah pengganggu v. organisasi pelaporan pada kegiatan ini, sistem pelaporannya terdiri dari berikut ini. 1. pembuatan proposal; 2. pembuatan kuesioner; 3. uji coba kuesioner; 4. menentukan kerangka dan pengambilan contoh; 5. survei; 6. data entry dan analisis; 7. seminar; dan 8. penulisan laporan akhir. hasil dan pembahasan i. karakteristik petani proyek putkati di lokasi pengembangan karakteristik petani dapat digunakan sebagai indikator dalam untuk menggambarkan sejauh mana petani tersebut ikut berpartisipasi di dalam kegiatan proyek putkati dan sejauh mana tingkat keberhasilan dalam pengelolaan proyek yang direkomendasikan. tabel 1 karakteristik petani peserta proyek putkati di propinsi sulawesi utara, gorontalo, dan sulawesi selatan peubah sulawesi utara gorontalo sulawesi selatan jumlah anggota keluarga (jiwa) pengalaman usaha ternak (tahun) pekerjaan pokok (persen) petani penggarap pedagang buruh tani pejerjaan sambilan (persen) pedagang buruh tani lainnya 3.38 1.70 92 8 23.07 15.30 4.28 6.00 100 14.28 28.57 4.20 4.42 80.00 8.50 11.5 17.14 8.5 14.5 journal the winners, vol. 3 no. 2, september 2002: 161-187 168 ii. penguasaan sumber daya lahan yang dimiliki peserta proyek lahan merupakan faktor penting (asset) dalam kegiatan/aktivitas penduduk pedesaan khususnya kaitannya dalam mendukung ekonomi penduduk di pedesaan. secara rinci penguasaan sumber daya lahan yang dimiliki petrani peserta proyek digambarkan dalam tabel 2 berikut. tabel 2 penguasaan sumber daya lahan yang dimiliki petani proyek putkati di propinsi sulawesi utara, gorontalo, dan sulawesi selatan (m2) propinsi sulawesi utara gorontalo sulawesi selatan peubah 01 02 rataan 03 04 rataan 05 06 07 08 09 rataan sawah % tegalan % pekarangan % kebunrumput % 8.000 (100) 750 (50) 5.000 (16 7.142 (85) 7.140 (100) 834 (71) 3.845 (42.5) 7.536 (100) 795 (60.5) 230 (8) 4.000 (43) 10.700 (71) 2.622 (100) 1.225 (29) 11.428 (100) 3.461 (57) 2.000 (21.5) 11.064 (85.5) 3.041 (78.5) 612 (14.5) 1.000 (28) 13.857 (100) 3.461 (57) 4.250 (28) 18.335 (86) 700 (43) 12.500 (100) 2.500 (100) 9.714 (100) 3.330 (86) 1.366 (43) 6.785 (100) 4.071 (100) 2.633 (86) 4.349 (51.2) 10.418 (94.14) 2.132 (65.8) total 9.250 15.116 12.406 18.547 14.889 16.717 18.318 23.285 15.000 14.410 13.489 16.899 keterangan : 01 = kabupaten minahasa 03 = kabupaten boalemo 05 = kabupaten bulukumba 02 = kabupaten b. mongondow 04 = kabupaten gorontalo 06 = kabupaten polmas 07 = kabupaten mamuju 08 = kabupaten luwu 09 = kab. luwu utara iii. perkembangan komoditas ternak oleh peserta proyek putkati inventarisasi sumber daya ternak pada petani peserta proyek dapat digunakan untuk memperhitungkan perkembangan ternak yang dipelihara selama paket proyek tersebut direalisasikan yang sangat tergantung pada lamanya keikutsertaan dalam proyek tersebut, seperti terlihat pada tabel 3 berikut. tabel 3 penguasaan sumber daya ternak proyek putkati di propinsi sulawesi utara, gorontalo, dan sulawesi selatan propinsi sulawesi utara gorontalo sulawesi selatan uraian /lokasi 01 02 rataan 03 04 rataan 05 06 07 08 09 rataan keterlibatan proyek (tahun) 2 4 4 3 4 2 3 2 2 169evaluasi ekonomi mikro: dampak proyek… (budiman notoatmojo) tabel 3 penguasaan sumber daya ternak proyek putkati di propinsi sulawesi utara, gorontalo, dan sulawesi selatan (lanjutan) jantan dws betina dws jantan md betina md jantan ank betina ank 0.33 1.16 0.33 0.66 0.28 1.42 0.28 0.71 0.14 0.28 0.30 1.30 0.30 0.69 0.07 0.15 0.28 2.28 0.43 1.00 0.28 0.71 0.28 1.57 0.28 0.28 0.86 0.28 1.93 0.22 0.69 0.28 0.78 0.33 1.66 0.83 0.83 0.16 0.50 2.00 0.14 0.57 0.86 0.14 0.14 1.71 0.43 0.29 0.29 0.14 0.57 1.86 0.57 0.28 0.43 0.43 1.86 0.14 0.14 0.14 0.14 0.29 1.82 0.31 0.35 0.35 0.27 total 1.40 3.11 2.18 4.98 3.27 4.18 4.31 3.71 3.00 3.71 2.85 3.39 keterangan : 01 = kabupaten minahasa 06 = kab. polmas 02 = kabupaten b. mongondow 07 = kab. mamuju 03 = kabupaten boalemo 08 = kab. luwu 04 = kabupaten gorontalo 09 = kab. luwu utara 05 = kab. bulukumba iv. dampak ekonomi realisasi proyek putkati dalam menganalisis seberapa besar kontribusi ternak dalam perekonomian petani di pedesaan sebagai langkah program peningkatran pendapatan petani, pendapatan dilakukan melalui pendekatan analisis margin kotor. penggalian pendapatan petani baik petani peserta proyek maupun petani di luar proyek dikelompokan menjadi 3 komponen penyumbang pendapatan yang dinggap penting yakni, pendapatan usaha pertanian, usaha peternakan, dan usaha lain di luar usaha tani (dagang, buruh tani, dan pekerjaan lainnya). variasi sumber pendapatan petani tersebut sangat ditentukan oleh potensi suberdaya lahan, skala pemilikan lahan, serta komoditas unggulan yang diusahakan oleh petani. perhitungan penerimaan usaha peternakan dalam pengamatan itu diperhitungkan dari hasil penjualan ternak oleh petani maupun nilai ternak yang disetorkan kepada proyek yang diperhitungkan nilai saat terjadinya transaksi selama satu tahun terakhir. pada tabel 4 berikut disajikan daftar pendapatan kotor peserta proyek dan bukan peserta proyek di propinsi sulawesi utara, gorontalo, dan sulawesi selatan. journal the winners, vol. 3 no. 2, september 2002: 161-187 170 t ab el 4 p en da pa ta n k ot or p es er ta p ro ye k da n b uk an p es er ta p ro ye k di p ro pi ns i s ul aw es i u ta ra , g or on ta lo , d an s ul aw es i s el at an (r p0 00 ) k et er an ga n : 01 = k ab up at en m in ah as a 06 = k ab . p ol m as 02 = k ab up at en b . m on go nd ow 07 = k ab . m am uj u 03 = k ab up at en b oa le m o 08 = k ab . l uw u 04 = k ab up at en g or on ta lo 09 = k ab . l uw u u ta ra 05 = k ab . b ul uk um ba ( ) = m en ya ta ka n ni la i h ar ga te rn ak ( r p. 00 0) 171evaluasi ekonomi mikro: dampak proyek… (budiman notoatmojo) v. peningkatan gizi rata-rata peliharaan ayam oleh petani pada lokasi sampel bervariasi antara < 10 ekor ( 40%) sampai lebih 30 ekor (11.6%) ayam dewasa. sisanya memelihara antara 10-30 ekor ayam dewasa (48.4%) sistem pemeliharaan umumnya dilepas (tanpa kandang) dinyatakan oleh 49.1% petani responden, sebagian lagi dilepas dan sore dikandangkan (29.8%), dan sekitar 8.7% selalu dikandangkan. di lokasi proyek telah dilakukan vaksinasi nd terhadap ayam buras milik petani yang dilakukan oleh petani sendiri (yang sudah dilatih) atau petugas. namun demikian, ada lokasi proyek yang tidak melakukan vaksinasi (salah satu lokasi sampel di gorontalo dan sulawesi selatan, masing-masing dinyatakan oleh 35.7% responden dan 62.5% responden). petani umumnya puas atau cukup puas dengan hasil vaksinasi dan sebagian kecil (9.3% responden) menyatakan tidak puas. peningkatan gizi dan ketahanan pangan didasarkan pada keberhasilan upaya penekanan angka kematian terhadap nd, dengan cara malakukan vaksinasi nd secara berkala dan dengan cara yang benar. peningkatan gizi keluarga itu bersumber dari dari produk pemeliharaan ayamnya (daging dan telur langsung) ataupun dari hasil penjualan ayam yang kemudian dibelanjakan untuk keperluan keluarga (tidak langsung). sebagian hasil pemeliharaan ayam dijual untuk memeperoleh uang tunai yang digunakan untuk keperluan sehari-hari (jumlah terbanyak menjual antara 25 %-75% dari hasil keturunannya dinyatakan oleh 48.8% petani responden). sisa yang tidak dijual digunakan untuk konsumsi (dinyatakan oleh 67.0% responden). dan sebagian untuk bibit pengembangan usaha ternak ayamnya (dinyatakan oleh 4.4% responden). sebagian terbesar responden (74.4%) menyatakan bahwa ayam bermanfaat untuk meningkatkan gizi keluarga. kelembagaan di luar proyek yang berperan dalam urusan peningkatan gizi keluarga adalah posyandu (dinyatakan oleh 64.4%) dan pkk (dinyatakan oleh 14.2%) memegang peranan dalam urusan peningkatan gizi keluarga. vi. peningkatan hasil pelatihan a. pelatihan ditingkat petani-peternak (1) relevansi pelatihan dengan tugas yang ditekuni. hasil pelatihan yang diterima menurut petani-peternak di propinsi sulut (100%) sudah relevan dengan tugas yang ditekuni dengan alasan 73% membantu usaha dan 82% sesuai dengan usaha yang ada/ditekuni. di propinsi gorontalo semua petani-peternak (100%) mengatakan pelatihan yang diterima sudah relevan dengan alasan 71% membantu usaha dan 21% sesuai dengan usaha yang ada. di propinsi sulsel mengatakan sudah relevan dengan alasan 73% membantu usaha dan 30% sesuai dengan usaha yang ada. dengan sudah relevannya materi pelatihan dengan tugas yang ditekuni petani maka dapat diharapkan program putkati berjalan mulus sesuai dengan rencana yang disepakati. (2) pemenuhan terhadap target yang ditetapkan proyek. hasil pelatihan yang diberikan menurut petani-peternak sulut 91% cukup dan 9% sangat memenuhi target yang direalisasikan dalam proyek dan 64% dengan alasan menambah ilmu dan 27% sesuai dengan yang ada. di gorontalo 64% mengatakan cukup dan 36% sangat memenuhi target yang direalisasikan dalam proyek dengan alasan 14% menambah ilmu, 14% masih perlu pelatihan ulang dan 29% telah sesuai dengan yang ada. di propinsi sulsel 72% cukup dan 21% sangat memenuhi target yang direalisasikan dalam proyek, dengan alasan 30% menambah ilmu, journal the winners, vol. 3 no. 2, september 2002: 161-187 172 27% sesuai dengan yang ada dan 15% walaupun mengatakan cukup namun masih perlu pelatihan lagi. (3) aplikasi pelatihan dalam membantu keberhasilan proyek. menurut petani-peternak di sulut 82% mengatakan cukup membantu dan 18% sangat membantu keberhasilan proyek. di gorontalo 43% mengatakan cukup dan 50% sangat membantu keberhasilan. di sulsel 64% mengatakan cukup dan 36% sangat membantu keberhasilan proyek. (4) penularan hasil pelatihan. petani-peternak di sulut 100% menularkan kepada petani-peternak tetangga.di gorontalo 86% menularkan ke petani-peternak tetangga dan petani lain, dan 14 mengatakan tidak tahu. di sulut 94% menularkan ke petani lain dan tetangga, dan 6% mengatakan tidak tahu. (5) adopsi dan aplikasi pelatihan oleh petani. petani di sulut 73% mengatakan cukup, 27% sangat dapat mengadopsi dengan alasan 73% petani membutuhkan, dan 36% karena petani umumnya anggota kelompok tani. petani di gorontalo 65% mengatakan cukup dan 35% sangat dapat mengadopsi dengan alasan semua petani sudah anggota kelompok tani dan membutuhkan. di sulsel 12% mengatakan cukup dapat dan 88% sangat dapat mengadopsi dengan alasan hampir semua petani anggota kelompok dan membutuhkan. (6) apakah latihan perlu dilanjutkan dengan tambahan materi yang lain. petani-peternak sulut 73% mengatakan ya dengan alasan perlu diadakan pelatihan ib pada sapi, 27% mengatakan tidak tahu. di gorontalo 86% ya dengan alasan perlu adanya pelatihan ib pada sapi dan 14% tidak tahu. di sulsel 76% mengatakan ya dengan alasan diadakan pelatihan ib dan 15% tidak tahu. b. pelatihan ditingkat staf proyek (1) jenis pelatihan yang telah diadakan. jenis pelatihan 12% komputer, 82% pelatihan pra, 18% pelatihan ib, 6% pelatihan keswan, dan 12% pelatihan agrobisnis. (2) relevansi dengan tugas. pelatihan 45% dikatakan sudah relevan dengan yang dibutuhkan petani, 47% sesuai dengan tugas satgas di lapangan. (3) pemenuhan terhadap target yang ditetapkan proyek. hasil pelatihan 59% cukup memenuhi target, 29% sangat memenuhi target yang direalisasikan dalam proyek, sedangkan 12% mengatakan masih kurang dan perlu pelatihan kembali. beberapa alasan yang dikemukan anatara lain materi sudah sesuai dengan rencana proyek, dapat meningkatkan penghidupan petani, memudahkan tugas di lapangan namun belum dapat diterapkan seluruhnya dan masih perlu ditingkatkan serta perlu ada pelatihan kembali. (4) pengaplikasian untuk keberhasilan proyek. hasil pelatihan 29% mengatakan sudah cukup membantu dan 71% sangat membantu keberhasilan proyek. beberapa alasan yang dikemukakan antara lain membantu kelancaran proyek dan pelaksanaan petugas, meningkatkan partisipasi petani dan memdorong pemberdayaan, membantu pembinaan dan meningkatkan pengetahuan petani. 173evaluasi ekonomi mikro: dampak proyek… (budiman notoatmojo) (5) dampak pelatihan terhadap peningkatan profesi dalam promosi jabatan. responden 29% mengatakan ya, 29% tidak, dan 41% tidak menjawab. responden mengatakan ya dengan alasan antara lain dapat mengembangkan karier, sebagai satgas harus mempertahankan nama, memudahkan pelaksanaan di lapangan. responden mengatakan tidak dengan alasan karena tidak dinilai yang diperhatikan kepangkatan, tidak ada hubungan dan tidak ada kaitannya dengan jabatan. (6) penularan hasil pelatihan kepada staf. responden 58% mengatakan ya dan 42% mengatakan tidak. responden mengatakan ya alasannya perlu disosialisasikan, bermanfaat bagi semua, lebih cepat mengaplikasikan di lapangan, membantu pembinaan, dan bagi staf dapat mengembangkan hasil pelatihan. (7) apakah petani dapat mengadopsi dan mengaplikasikan hasil pelatihan. sebanyak 18% mengatakan kurang dengan alasan perlu binaan karena pendidikan petani kurang dan sdm petani minim, 82% mengatakan cukup atau lebih dari cukup dengan alasan petani setelah menerima teori selalu diaplikasikan di lapangan, materinya fleksibel, teori yang diterima mudah dimengerti untuk diaplikasikan, pelatihan yang diterima berhubungan dengan kegiatan petani sehari-hari. (8) bagaimana sebaiknya disiapkan program pelatihan proyek untuk waktu mendatang. jawaban yang diberikan antara lain, yaitu perlu pelatihan pengembangan masyarakat yang merupakan dasar penguatan kelompok, pembentukan tim kerja kelompok karena kesadaran petani masih kurang, pemberdayaan kelompok tani agar dapat mencapai sasaran proyek, penataan administrasi kelompok agar petani tahu perkembangannya, pelatihan ib dan keswan bagi satgas untuk meningkatkan populasi dan kesehatan ternak. vii. pengaruh desentralisasi terbitnya uu no.22/1999 tentang pemerintahan daerah dan uu no.25/1999 tentang perimbangan keuangan pusat dan daerah merupakan gagasan yang inovatif dalam manajemen dan politik pembangunan nasional. kebijakan tersebut secara substantif memberikan kewenangan kontrol dan distribusi kekuatan politik sebagai refleksi kebutuhan demokratisasi yang lebih luas kepada daerah. penyelenggaraan otonomi daerah ditempuh melalui pola penyerahan urusan secara total, bulat, utuh, dan menyeluruh, kecuali atas hubungan luar negeri, pertahanan keamanan, peradilan, moneter, dan agama (nurbaya, 1999). pemerintah daerah memiliki keleluasaan yang lebih luas dalam penanganan urusan pemerintah ditingkat lokal, penyelesaian permasalahan daerah, dan dapat lebih kreatif menggali dan mengembangkan potensi daerah untuk kesejahteraan masyarakatnya. dari hasil wawancara dengan bappeda, pemda, dinas, dan proyek, mereka menyatakan terdapat 3 (tiga) alternatif hubungan antara pelaksanaan desentralisasi dengan pelaksaan putkati. alternatif pertama. sebaiknya putkati (hampir 60 % dari responden) masih ditangani sepenuhnya oleh pusat mengingat hal berikut. 1. dukungan dana dari pemda masih sangat terbatas; 2. dukungan sumber daya manusia yang cukup andal masih terbatas; 3. dukungan teknologi dan sarana serta prasarana pengembangan masih terbatas; 4. lingkungan strategis antar daerah dan daerah dan pusat masih belum kondusif; journal the winners, vol. 3 no. 2, september 2002: 161-187 174 5. program dan kegiatan putkati masih belum selesai dan perlu sekali dilanjutkan. bahkan justru ditindak lanjuti baik oleh pemda, swasta, dan para petani. apabila alternatif itu yang diambil maka diperlukan adanya perbaikan antara lain sebagai berikut. 1. penentuan jenis ternak dan komoditas terpadu harus disesuaikan dengan keinginan daerah dan petani, agroekologi, kemampuan petani, dan pasar. 2. kriteria petani penerima bantuan harus jelas dan berdasar atas kriteria daerah. 3. adanya keterbukaan antara pusat dan daerah. 4. pemberian informasi dan sosialisasi kegiatan dan pemecahan masalah harus lengkap dan jelas serta transparan. 5. koordinasi vertikal dan horisontal perlu sering diadakan sesuai kebutuhan. 6. sistem perencanaan proyek harus disesuaikan dengan kebutuhan petani. 7. sebaiknya pemda terlibat langsung dalam proses redistribusi ternak ke penggaduh yang baru. alternatif kedua. hal yang dipilih oleh para responden adalah putkati diserahkan sepenuhnya diserahkan ke pemda, dengan alasan antara lain sebagai berikut. 1. sesuai dengan pelaksanaan uu no.22/1999 dan no.25/1999. 2. bupati bertanggung jawab langsung terhadap pelaksanaan program dan kegiatan putkati meskipun begitu, putkati dilaksanakan dengan beberapa perobahan/perbaikan antara lain sebagai berikut. 1. aturan pembagian hasil antara pusat dan daerah. 2. hasil penjualan ternak redistribusi harus disetor ke pemda tk.ii. 3. pemda harus menyediakan anggaran operasi dan pemeliharaan prasarana dan sarana yang telah dan yang akan dibangun. 4. struktur tim pemandu kabupaten lebih baik ditentukan oleh daerah. 5. perlu disediakan dana khusus untuk aparat kecamatan ( camat, kapolsek, koramil, dan instansi terkait). 6. menggunakan tenaga ppl untuk satgas sebagai alternatif ketiga. para responden memberikan pilihan agar sebagian program dan pekerjaan putkati diserahkan kepada daerah dengan dalih berikut. 1. pelaksanaan uu no.22 dan 25 /1999 dengan kemampuan keuangan dan sdm dari pemda yang masih terbatas. 2. bupati bertanggung jawab langsung terhadap pelaksanaan putkati. 3. bottom-up planning dan full participatory approach dapat lebih dilaksanakan. 4. forum komunikasi perlu dimanfaatkan secara maksimal. 5. koordinasi proyek dapat dilaksanakan lebih baik. 6. keterbukaan antara pusat dan daerah dapat lebih berjalan dengan baik dan tidak langsung mementingkan diri sendiri. 7. kebutuhan dana, sdm, teknologi masih dapat disupport dari pusat. 8. kebutuhan dan keinginan daerah dapat lebih terakomodasi 175evaluasi ekonomi mikro: dampak proyek… (budiman notoatmojo) pengaruh kredit i. perkreditan “in kind” dalam rencana pelaksanaan proyek putkati yang dikeluarkan bulan juni 1996 oleh direktorat jenderal bina produksi peternakan, departemen pertanian, kredit ternak ditetapkan sebagai berikut. 1. ternak sapi setiap petani akan memeperoleh 2 ekor ternak betina dewasa dan siap kawin (umur 15-18 bulan). setiap 5 orang petani akan memperoleh satu ekor pejantan sehingga rasio pejantan dengan betina adalah 1:10. persyaratan teknis sapi bali dan sapi bali mengacu pada petunjuk teknis yang ditetapkan oleh dirjan bina produksi peternakan. secara umum, pola kredit yang dilaksanakan adalah sumba kontrak (credit in kind) yang setiap ekor ternak yang diterima petani akan mengembalikan dua ekor anak keturunannya pada umur yang sama (15-18 bulan) dalam jangka waktu 7 tahun. petani yang menerima 2 ekor sapi betina akan mengembalikan 4 ekor anak turunan sedang petani yang menerima 2 ekor sapi betina 1 ekor pejantan akan mengembalikan 5 ekor anak turunan dalam jangka waktu 7 tahun. untuk meningkatkan skala usaha tani ternak, dilakukan penjadualan pengembalian (repayment) oleh petani. anak turunan pertama ditunda pengembaliannya kepada proyek dan anak keturunan betina dipelihara sebagai induk dan yang anakan dapat dijual oleh petani untuk pendapatan petani. melalui pola kredit tersebut diharapkan petani akan dapat melunasi kredit mereka pada akhir tahun ke 6 atau awal tahun ketujuh 2. ternak kambing setiap petani memperoleh 2 ekor kambing betina dewasa dan siap kawin (umur 12-15 bulan). setiap 5 petani akan menerima satu ekor pejantan sehingga rasio pejantan dengan betina adalah 1:10. persyaratan teknis kambing yang disebarkan mengacu kepada petunjuk teknis dirjen bina produksi peternakan. pola kredit yang dilaksanakan adalah sumba kontrak (credit in kind) dan petani akan mengembalikan 2 ekor anak turunan pada umur yang sama terhadap penerimaan satu ekor ternak betina dewasa dalam jangka waktu 3 tahun. petani yang menerima 2 ekor kambing betina akan mengembalikan 4 ekor anak turunan pada umur yang sama sedang petani penerima 2 ekor betina dan satu ekor pejantan akan mengembalikan 5 ekor anak turunan dalam jangka waktu 3 tahun. melalui pola kredit tersebut, diharapkan petani dapat melunasi kredit ternak pada akhir tahun ketiga. untuk meningkatkan skala usaha tani ternak, pengembalian (repayment) pertama dapat ditunda dan ternak betina terus dipelihara sebagai ternak induk sedang ternak jantan dijual sebagai pendapatan petani. ii. realisasi pembayaran kembali (repayment) supervision report unops (22 june-9 july 2001) menyebutkan bahwa proyek agaknya tidak terarah dalam pembayaran kredit ternak. sebagaimana dicantumkan dalam kontrak dengan peserta proyek pembayaran kembali seharusnya terjadi sebelum akhir dari tahun keempat proyek journal the winners, vol. 3 no. 2, september 2002: 161-187 176 (tahun 2000). sebagaimana dituangkan dalam rencana pelaksanaan proyek maka rincian “repayment” sebagai berikut. 1. untuk kredit sapi peserta proyek yang menerima 2 sapi betina dan sekor pejantan akan mengembalikan 5 ekor anak sapi keturunan sekurang-kurangnya berumur 18 bulan pada tahun 2000-2003. peserta yang menerima 2 sapi betina mengembalikan kredit berupa 4 anak sapi keturunan umur 18 bulan pada tahun 2000-2003. 2. untuk kredit kambing peserta proyek yang menerima 2 kambing betina dan seekor pejantan akan mengembalikan 5 ekor anak kambing sekurang-kurangnya berumur 15 bulan pada waktu 3 tahun. peserta yang menerima 2 kambing betina mengembalikan kredit berupa 4 anak kambing keturunan umur 15 bulan pada waktu 3 tahun. data pada proyek putkati mengenai perkembangan setoran ternak disajikan dalam tabel 5 berikut. tabel 5 rekapitulasi perkembangan setoran ternak proyek putkati s.d. oktober 2001 no. propinsi/ kabupaten jenis ternak ras realisasi i sulawesi utara redistribusi penjualan jantan betina jumlah jantan betina jumlah nilai (1) (2) (3) (4) (5) (6) (7) (8) (9) (10) (11) 1. bulukumba sapi kambing bali pe 32 4 106 14 138 18 0 0 0 0 0 0 0 0 sub total 36 120 156 0 0 0 0 2. polmas sapi kambing bali pe 0 14 0 113 0 127 0 0 0 0 0 0 0 0 sub-total 14 113 127 0 0 0 0 3. luwu sapi kambing bali pe 64 38 144 362 208 400 5 83 4 0 9 83 5,597,600 10,696,600 sub-total 102 506 608 88 4 92 16,194,000 4. mamuju sapi kambing bali pe 6 8 70 22 76 30 0 0 0 0 0 0 0 0 sub-total 14 92 106 0 0 0 0 ii. sulawesi utara 5. minahasa sapi kambing bali pe 0 0 0 0 0 0 0 0 0 0 0 0 0 0 6. bolaang mongondo w sapi kambing bali pe 0 0 0 0 0 0 0 0 0 0 0 0 0 0 subtotal 0 0 0 0 0 0 0 7. goreontalo sapi kambing bali pe 102 0 194 0 296 0 0 0 0 0 0 0 0 0 tabel 5 rekapitulasi perkembangan setoran ternak 177evaluasi ekonomi mikro: dampak proyek… (budiman notoatmojo) proyek putkati s.d. oktober 2001 (lanjutan) sub total 102 194 296 0 0 0 0 total 268 1025 1293 88 4 92 16,194,000 sumber data: laporan proyek putkati (oktober 2001) iii. pemasaran ternak survei pemasaran itu diarahkan untuk mengetahui lebih jauh kelembagaan pemasaran ternak yang ada di masing-masimg desa lokasi proyek seta prospek pengembangannya untuk waktu mendatang. survei dilakukan di 9 lokasi proyek dengan cara pengumpulan data primer dari responden di tingkat pedesaan. hasil survei di lokasi ini disajikan dalam table 6 berikut. tabel 6 data pemasaran ternak di lokasi proyek putkati no. uraian sulawesi utara gorontalo sulawesi selatan (1) (2) (3) (4) (5) 1. keberadaan pasar hewan di kecamatan ada 46.2 71.4 0 tidak ada 53.8 14.3 78.8 tidak tahu 0 14.3 21.2 2. jarak pasar hewan terdekat > 10 km 46.2 28.5 51.5 5-10 km 23.1 42.9 9.1 < 5 km 0 28.6 40.4 3. setelah lunas ada rencana dijual tidak dijual 15.4 7.1 9.1 dijual 84.6 35.7 54.5 tidak tahu 0 57.2 36.4 alasan supaya tidak repot 15.4 14.3 21.2 tambah penghasilan 38.5 7.1 18.2 akan dikembangkan 15.4 7.1 6.1 perlu mendesak 7.7 0 0 tergantung kebutuhan 0 35.7 15.2 4. kemana akan dijual tengkulak 76.9 46.7 87.8 tetangga 0 6.6 9.1 tabel 6 data pemasaran ternak di lokasi proyek putkati (lanjutan) journal the winners, vol. 3 no. 2, september 2002: 161-187 178 pasar hewan 15.4 46.7 0 alasan belum pernah jual 7.7 0 0 harga lebih baik 7.7 6.6 9.1 lebih mudah , dibayar tunai 61.5 21.4 69.7 5. penggunaan uang hasil penjualan pendidikan 7.6 35.7 36.4 usaha tani 38.5 42.8 36.4 keperluan rumah tangga 46.2 50.0 51.5 beli tanah 0 14.3 0 beli ternak 0 14.3 0 6. saran untuk pemasaran dibangun pasar hewan 100 100 100 belum tahu 0 21.4 0 sampai saat ini telah cukup banyak ternak yang dijual (supervision mission june-july 2001). di samping itu, menurut hasil survei lapangan sebagian besar peternak responden akan menjual ternaknya setelah lunas. dengan alasan lebih mudah dan mendapatkan uang tunai, peternak lebih menyukai menjual ternaknya kepada tengkulak. hal lain yang medorong penjualan ke tengkulak adalah keberadaan pasar hewan yang jauh lokasinya (> 10 km). di samping itu, risiko tidak laku dipasar hewan menjadi pertimbngan pula bagi petani untuk memilih menjual lewat tengkulak. hasil penjualan ternak sapi pada umumnya digunakan untuk memperoleh uang tunai guna memenuhi kebutuhan rumah tangga (menigkatkan pendapatan). beberapa responden menyatakan hasil penjualan ternak untuk keperluan pengembangan usaha tani, pendidikan, beli tanah, ataupun beli ternak. masalah keinginan peserta proyek untuk menjual ternaknya setelah lunas perlu diwaspadai dan perlu diupayakan langkah pengamannya sehingga dampak positif proyek tidak hilang demikian saja. masalah ”sustainability proyek” perlu digali di lapangan dengan mengidentifikasikan potensi yang ada yang telah dicapai oleh petani, kelompok, desa, dan selanjutnya mengembangkan sda dan sdm yang ada tersebut ke tingkat pengembangan berikutnya (misalnya, pengembangan usaha bersama dengan maksud meningkatkan skala usaha dengan pendekatan agrobisnis). iv. peranan lembaga keuangan pedesaan sejauh ini, di lokasi proyek putkati hanya terdapat satu sistem perkreditan, yaitu perkreditan yang dilaksanakan oleh proyek berupa “credit in kind”. sistem perkreditan dan pola komponren paket (2 betina, serta 2 betina +1 pejantan untuk setiap 5 peseta kredit) cukup layak bagi petani kecil yang dilihat dari aspek kemapuan permodalan usaha digolongkan “golongan ekonomi lemah” . kredit itu diberikan tanpa agunan serta disertai bimbingan teknis kepada penerima paket kredit, pemantapan dan pengembangan peranan kelompok dalam berproduksi dan memasarkan produk. 179evaluasi ekonomi mikro: dampak proyek… (budiman notoatmojo) dari hasil wawancara dengan peserta proyek yang diadakan di 3 propinsi mengungkapkan bahwa petani lebih menginginkan “credit in kind”, hanya beberapa peatani di lokasi sampel di gorontalo yang menyatakan kemungkinan pengembalian “finansial” (dinyatakan oleh 7.1% responden). selanjutnya, survei lapangan yang dilakukan di 9 (sembilan) lokasi proyek menunjukkan bahwa sampai saat ini belum ada lembaga keuangan desa ( bri unit desa ataupun koperasi) yang berkembang baik. dengan demikian, urusan yang berkaitan dengan sistem perkreditan lain selain sistem gaduhan/ “credit in kind” ( yaitu, kredit semi gaduhan/ “modified in kind” ataupun kredit finansial) belum ada lembaga yang dapat mengelolanya. belum semua kelompok petani dapat berperanan penuh pada pengelolaan kredit ternak. peranannya dalam sistem perkreditan ternak masih sangat minim, kalau tidak dikatakan tidak ada. sejauh ini, di desa lokasi proyek putkati belum ada ataupun belum berkembang lembaga keungan pedesaan. pada perkembangan selanjutnya, yaitu pada saat usaha tani terpadu sebagaimana dirancang proyek ini telah berhasil dengan baik, pada saat akan mengembangkan usaha tani dengan pendekatan asgribis, kiranya keberadaan dan peranan lembaga keuangan desa perlu digali dan dicari jalan untuk mengembangkannya karena peluang untuk itu telah memungkinkan. dengan adanya lembaga tersebut, sistem perkreditan semi gaduhan (“modified in kind”) dan sistem kredit finansial (yang lazim disalurkan sebagai kredit usaha melalui jalur perbankan) dapat merupakan pilihan alternatif untuk perluasan “coverage” penyebaran ternak. analisis dampak kegiatan proyek putkati dalam menganalisis dampak proyek putkati dilakukan dengan analisis regresi multifaktor dengan mempertimbangkan data “ex-ante dan ex-post analisis” terhadap petani yang terlibat dalam proyek tersebut yang berpatokan pada peningkatan total pendapatan keluarga petani proyek sebelum dan sesudah mengelola paket proyek (agro-input). karena data ex-ante usaha tani sulit didapatkan akibat kurangnya data perencanaan dalam kegiatan proyek, data tersebut diambil (diwakili) oleh data peternak nonproyek yang diasumsikan bahwa informasi tersebut dapat mewakili data awal petani proyek sebelum dilakukan implementasi paket proyek yang direkomendasikan. persamaan yang direkomendasikan sebagai berikut. pakhir = ao + a1pawal + a2pter + a3 wanita + a4 latihan + a5 gizi + a6 kredit + a7 desent + μ pakhir = pendapatan akhir petani setelah mendapatkan paket agroinput (rp.000,-) (ex-post analisis) pawal = pendapatan petani sebelum mendapatkan agro-input (rp.000,-) (ex-ante analisis). pter = pendapatan usaha ternak dari hasil pengelolaan paket proyek (rp.000,-) wanita = dampak peranan wanita petani proyek (hasil scoring) latihan = dampak pelatihan yang diberikan pada petani proyek (hasil scoring) gizi = dampak perubahan gizi petani proyek (hasil scoring) kredit = akses pengembalian kredit sesuai rekomendasi (hasil scoring) dan, desent = pengaruh desentralisasi (peubah dummy 0=lokasi yang belum aktif dalam pengelolaan proyek, journal the winners, vol. 3 no. 2, september 2002: 161-187 180 dan 1 = lokasi yang telah aktif dalam pengelolaan proyek) ao = intersep a1, a2, a3,a4,a5, a6, a7 = parameter estimasi μ = peubah pengganggu dalam analisis pendapatan tersebut, pendapatan petani diperhitungkan dengan pendekatan analisis margin kotor (gross margin analysis) yang dikelompokkan dalam pendapatan usaha ternak yang dipandang merupakan paket proyek utama (ternak sapi), serta total pendapatan yang merupakan gabungan pendapatan dari pendapatan usaha pertanian, usaha ternak dan usaha di luar usaha tani (non farm income). pendapatan usaha ternak diperhitungkan dari hasil penjualan ternak, maupun nilai jual ternak yang telah disetorkan oleh petani yang dinilai pada saat transksi terjadi. peranan wanita dalam menunjang usaha keluarga, dampak pelatihan, peningatan gizi keluarga dan perkreditan dilakukan penilain (scoring) dari hasil wawancara terhadap petani dengan nilai maksimal adalah 100 dan minimal adalah 0. pengaruh desentralisasi dalam analisis ini dinyatakan sebagai “dummy variable” dan nilai 0 adalah dinyatakan sebagai wilayah yang belum terlibat langsung dalam kegiatan proyek putkati sedangkan nilai 1 adalah lokasi yang telah ikut aktif dalam kegiatan proyek dengan asumsi bahwa lokasi tersebut telah aktif dalam pelaksanaan program desentralisasi. hasil analisis (tabel 1) menunjukkan bahwa nilai koefisien detereminasi (r2) dalam persamaan yang dibentuk sebesar 0.70. hal tersebut menunjukkan bahwa 70 persen peubah bebas (independent variable) yang dimasukkan dalam model tersebut mampu menjelaskan peubah tidak bebas (dependent variable) dalam persamaan yang dibentuk sedangkan 30 persen lainnya dipengaruhi oleh faktor lain di luar model persamaan. terlihat bahwa pendapatan petani sebelum mendapatkan paket proyek (agro input) yang diistribusikan sangat nyata (p<0.01) berpengaruh positif terhadap total pendapatan akhir petani setelah mendapatkan sarana agro input yang direalisasikan dalam proyek putkati. kondisi demikian berarti dengan meningkatnya pendapatan petani sebelum mendapatkan sarana agro-input akan meningatkan pula pemdapatan akhir setelah petani mengelola sarana agro-input yang direalisasikan dalam proyek tersebut. hal tersebut menunjukkan bahwa pengamatan ekonomi pada kondisi ex-ante analisis cukup berperan dalam menunjnag pendapatan akhir petani proyek. pendapatan tersebut tercermin dari besarnya aktivitas dalam usaha tani maupun pendapatan di luar usaha pertanian (nonfarm income) yang cukup potensial di semua lokasi proyek diantaranya adalah usaha buruh tani, sebagai pedagang, dan usaha lainnya. potensi sumber daya lahan yang menjadikan syarat dalam realisasi proyek (pemilihan kooperator) yang cukup potensial dalam menunjang pendapatan petani di lapangan. dicerminkan pula dari hasil pengelompokan pendapatan kotor petani yang cukup dominan adalah pendapatan di luar usaha tani maupun usaha pertanian. pendapatan usaha pertanian yang sangat menonjol adalah usaha perkebunan yakni perkebunan coklat, selain hasil pertanaman komoditas padi dan palawija. sarana minimal pemilikan lahan pertanian yang dikuasai petani cukup memberikan gambaran penunjang pendapatan petani dan sekaligus juga sebagai sarana penunjang dalam pengembangan agro-input yang dikelola petani, khususnya dalam rangka peningkatan pendapatan petani. dampak paket proyek berupa paket ternak khususnya ternak sapi sangat mendukung petani dalam menunjang total pendapatan petani proyek. hal tersebut dapat ditunjukkan dari hasil analisis bahwa pendapatan usaha ternak nyata (p<0.10) berpengaruh positif terhadap total pendapatan petani proyek yang hal tersebut menunjukkan bahwa dengan meningkatnya 181evaluasi ekonomi mikro: dampak proyek… (budiman notoatmojo) pendapatan usaha ternak maka akan meningkatkan pula total pendapatan petani proyek. peranan ternak sapi pada kondisi petani proyek cukup potensial dalam mendukung pendapatan karena disamping petani dapat memperoleh hasil dari penjualan ternak, juga dari upah tenaga kerja ternak yang dikelola sebagai sarana pengolah lahan pertanian maupun sebagai alat angkut (transportasi) yng merupakan tambahan pendapatan petani. pengaruh lokasi pengamatan, lamanya pengelolaan proyek serta bangsa sapi yang dikembangkan, sangat berpengaruh terhadap pendapatan usaha ternak. pada kondisi pengelolaan yang sudah sekitar 3 tahun lebih cenderung ternak sudah bereproduksi dengan baik sehingga ada kecenderungan petani telah mendapatkan hasil anak (pedet) dan telah banyak dilakukan penjualan maupun pengembalian sebagai redistribusi untuk dikembangkan ke peternak lain. pada wilayah yang memiliki kondisi agro-ekosistem yang mendukung dalam usaha ternak khususnya yang memiliki areal agro-ekosistem lahan persawahan, kondisi ternak yang dipelihara oleh petani dapat berkembang lebih bagus dibanding dengan lokasi lain yang kondisi agro-ekosistem lahan tegalan. hal tersebut tidak terlepas dari daya dukung pakan yang cukup berperan dalam pengembangan usaha ternak, disampng kondisi sosial ekonomi masyarakat petani sendiri dan penduduk transmigran cenderung akan lebih berhasil dalam pengelolaan ternak dibanding penduduk lokal. bangsa ternak sapi yang didistribusikan juga cukup berperan dalam program pengembangan dan tingkat keberhasilan petani dalam pengelolaan paket proyek. sapi peranakan ongole (po) terlihat kurang berkembang dibandingkan bangsa sapi bali dan hal tersebut ditunjukkan adanya perkembangan eksterior ternak yang tampak kurus serta daya reproduksinya cenderung rendah. kondisi demikian tidak terlepas dari sifat ternak sapi po yang cenderung kurang berkembang pada kondisi pakan yang kurang mendukung sedangkan kondisi sebaliknya pada sapi bali yang relatif lebih tahan pada kondisi pakan yang kurang mendukung. tabel 7 hasil analisis faktor yang dianggap berpengaruh terhadap total pendapatan akhir petani proyek putkati keterangan : tn = tidak berbeda nyata, dalam taraf nyata 10 persen (p>0.10) n = berbeda nyata dalam taraf 10 persen (p<0.10) peranan wanita dalam hal pengelolaan paket proyek berpengaruh positif terhadap total pendapatan keluarga, walaupun tidak menunjukkan perbedaan nyata (p>0.10). hal tersebut peubah parameter dugaan prob> iti ket. intersep -26558 0.3044 tn pendapatan awal petani 0.8463 0.0018 n perdapatan usaha ternak 1.2244 0.0730 n peranan wanita 16.8377 0.4324 tn pelatihan -12.5063 0.9413 tn peningkatan gizi -37.9838 0.6011 tn perkreditan 391.7374 0.1224 tn desentralisasi -1680.0886 0.4112 tn koefisien determinasi (r2) 0.7007 journal the winners, vol. 3 no. 2, september 2002: 161-187 182 menunjukkan bahwa dengan direalisasikannya proyek maka peranan wanita akan mengalami peningatan khsususnya dalam pengelolaan paket usaha ternak sehingga akan meningkatkan pendapatan keluarga. program pelatihan yang di rekomendasikan dalam proyek juga akan berimbas kepada peranan istri petani sehingga akan lebih berperan dalam proses pengambilan keputusan dalam berusaha dan cenderung akan menambah aktivitas kerja yang berdampak pada peningkatan pendapatan keluarga. dengan semakin meningkatnya aktivitas suami dalam hal pengelolaan paket proyek, terdapat hal tertentu yang tidak dapat diselesaikan oleh suami dan hal tersebut akan mendorong pihak istri untuk lebih berperan aktif dalam menunjang aktivitas suami khususnya dalam hal pemberian pakan terhadap ternak maupun aktivitas lainnya di sektor pertanian. kenyataan menunjukkan bahwa dengan adanya paket proyek maka cenderung akan meningkatkan frekuensi aktivitas keluarga petani dan akan berdampak pula dalam distribusi pendapatan keluarga. dampak pelatihan tidak memberikan pengaruh yang signifikan (p>0.10) terhadap total pendapatan keluarga petani (dampak perkembangan proyek) bahkan hasil analisis menunjukkan hubungan yang negatif. dampak pelatihan memang kenyataan akan meningkatkan pengetahuan dalam hal sistem usaha pertanian yang direkomendasikan. akan tetapi, dalam paket proyek yang menonjol dan dengan cepat dirasakan dapat langsung menyumbangkan pendapatan adalah usaha ternak sapi sedangkan paket pelatihan tersebut adalah pelatihan pertanian secara umum. kondisi demikian kurang berpengaruh nyata terhadap peningkatan pendapatan petani. ditinjau dari persepsi petani dalam evaluasi pelatihan petani cukup responsif dan memperoleh dampak informasi tentang pengelolaan usaha pertanian tetapi tidak memberikan dampak langsung terhadap peningkatan pendapatan karena petani pada dasarnya sudah memiliki dasar pengetahuan tentang usaha tani yang berdampak langsung terhadap kelangsungan usaha keluarga. dampak pelatihan hanya memberikan rangsangan terhadap petani melalui adopsi teknologi yang diberikan dalam pelatihan tetapi kenyataan dalam praktek (action) petani sudah memiliki dasar tentang cara berusaha dalam pengelolaan sumber daya yang dimiliki. walaupun kondisinya demikian, dari pihak petani program pelatihan masih cukup diperlukan oleh petani sebagai ajang diskusi dalam hal pemecahan permasalahan usaha pertanian secara umum, serta sebagai wahana kerkomunikasi di samping refresing petani kibat kejenuhan dalam aktivitas rutin. dalam pengelolaan paket proyek secara umum ada kecenderungan dalam peningkatan gizi petani. hal tersebut ditunjukkan dalam analisis terdapat hubungan yang negatif (p>0.10) antara peningkatan gizi dengan peningkatan total pendapatan petani. kondisi demikian mencerminkan bahwa ada tambahan pendapatan yang dibelanjakan untuk keluarga dalam rekomendasi perbaikan gizi keluarga. dengan meningkatnya gizi keluarga maka akan menurunkan total income petani atau dengan kata lain terdapat sebagian pendapatan petani yang digunakan untuk menambah pengeluaran dalam perbaikan gizi keluarga dan hal tersebut karena sebagai akibat lebih meningkatnya total pendapatan keluarga petani sebagai dampak pengelolaan proyek tersebut. kenyataan di lapangan selain perbaikan gizi dari pengeluaran pendapatan petani, juga ada kecenderungan bahwa petani proyek banyak yang memelihara ternak ayam buras sebagai usaha sambilan penunjang gizi keluarga dibanding petani nonproyek. hasil usaha ternak ayam buras tersebut khususnya untuk dilakukan pemotongan sebagai konsumsi keluarga pada kondisi skala pemeliharaan yang relatif kecil tetapi dalam kondisi pemeliharaan induk di atas 10 ekor/petani ada kecenderungan untuk dilakukan penjualan dalam menambah pendapatan keluarga di samping sebagai penambah gizi keluarga, sebagai akibat adanya dukungan instansi secara tidak langsung 183evaluasi ekonomi mikro: dampak proyek… (budiman notoatmojo) karena adanya aktivitas binaan proyek putkati di lokasi, seperti binaan vaksinasi ayam dan lain sebagainya. ditinjau dari sistem perkreditan yang ada di wilayah pengembangan proyek nampak belum menunjukkan perkembangan yang signifikan, hanya terbatas pada aktivitas arisan kelompok maupun sistem simpan pinjang yang dikelola oleh organisasi kelompok sesuai dengan keaktifan kelompok yang bersangkutan. akan tetapi, dilihat dari respon petani dalam pengembalian paket kredit cukup potensial dalam proses pengembalian sesuai dengan perjanjian yang telah disepakati antara pihak petani proyek dengan pihak pengelola proyek. hasil analisis menunjukan bahwa terdapat hubungan positif (p>0.10) antara respon petani terhadap realisasi pengembalian kredit dengan pendapatan patani pada akhir proyek. hal tersebut berarti semakin tinggi minat petani dalam palaksanaan pengembalian kredit maka semakin memacu pengelolaan agro-input sehingga akan memacu pendapatan keluarga petani. dapat digambarkan pada kondisi petani dan dibeberapa lokasi petani cenderung memacu pengembalian kredit atas hasil keturunan ternak yang dipelihara untuk cepat lunas kemudian baru hasil akhir setelah lunas adalah sepenuhnya hasil petani yang merupakan pendapatan yang oleh petani dinyatakan sebagai keuntungan akhir. dampak desentralisasi tidak menunjukkan signifikansi yang cukup berarti (p>0.10) yang bahkan memiliki hubungan negatif dengan total pendapatan petani pada akhir proyek. dalam pengelompokan variabel dummy dalam proses desentralisasi dibedakan dalam dua permasalahan yakni desentralisasi diartikan bahwa pemerintah daerah sudah terlibat langsung dalam kegiatan proyek putkati dan belum terlibat langsung. hasil analisis menunjukkan bahwa proses keterlibatan pemerintah daerah bahkan akan menurunkan tingkat pendapatan petani walaupun tidak menujukkan perbedaan yang nyata (p>0.10). hal demikian terdapat indikasi bahwa proses desentralisasi tidak banyak berdampak positif terhadap proses keberhasilan proyek tersebut, khususnya dilihat dari peningkatan pendapatan petani proyek. dalam kasus proses desentralisasi dalam realisasi keberlanjutan proyek putkati terdapat beberapa wilayah yang menyatakan bahwa pelaksanaan proyek tersebut sebaiknya ditangani oleh pihak pemerintah pusat. hal tersebut tidak terlepas dari sistem pembiayaan oleh pemerintah daerah yang masih belum siap karena keterbatasan anggaran yang dimiliki oleh pemerintah daerah. kondisi demikian masih perlu realisasi pemikiran jangka panjang tentang keberlanjutan proyek dimasa yang akan datang yang perlu dibahas oleh beberapa pihak penentu kebijakan khususnya dalam hal yang menyangkut proses pembiayaan proyek dan realisasi kebijakan “otonomi daerah” yang menyangkut kewenangan pemerintah pusat dan daerah. penutup simpulan 1. sumbangan usaha ternak bagi petani peserta proyek cukup banyak membantu pendapatan keluarga. tingkat pendapatan petani proyek tampak lebih tinggi dibanding petani bukan peserta proyek. hal tersebut terjadi pada lokasi wilayah yang pengelolaan usaha ternaknya cukup berhasil sehingga lebih berkesempatan dalam hal penjualan ternak hasil keturunannya yang cukup dominan dalam menyumbang pendapatan. journal the winners, vol. 3 no. 2, september 2002: 161-187 184 2. dampak proyek dalam pengembangan usaha ternak dapat dirasakan petani, selain dapat menikmati hasil penjualan ternak, petani juga dapat memanfaatkan tenaga dan pupuk kandang untuk melakukan efisiensi biaya produksi tanaman yang dibudidayakan. di lain pihak, pada kondisi wilayah tertentu ternak masih merupakan simbul status sosial di masyarakat. 3. perkembangan ternak tampak bervariasi diantara lokasi pengamatan dan di proipinsi sulawesi utara tampak kurang berhasil dibandingkan dengan propinsi gorontalo dan sulawesi selatan. hal tersebut ditunjukkan adanya peningkatan populasi yang kurang berkembang serta kemampuan petani yang kurang berminat tinggi dalam usaha. keberhasilan pengelolaan paket proyek ditunjukkan adanya tingginya penjualan ternak keturunannya maupun realisasi pengembalian ternak secara tepat waktu sesuai dengan kesepakatan sebelumnya. 4. permasalahan yang dihadapi dalam program pengembangan usaha ternak diantaranya adalah ternak yang disebarkan umumnya masih terlalu muda sehingga petani harus membesarkan terlebih dahulu untuk siap dikawinkan, sistem perkawinan yang terkait dengan pengetahuan petani dalam manajemen perkawinan yang masih rendah perlu ditingkatkan, dan ditunjang keberadaan pejantan di lokasi proyek. 5. di lokasi proyek telah dilakukan vaksinasi nd terhadap ayam buras milik petani yang dilakukan oleh petani sendiri (yang sudah dilatih) atau petugas. namun demikian, ada lokasi proyek yang tidak melakukan vaksinasi (salah satu lokasi sampel di gorontalo dan sulsel, masing-masing dinyatakan oleh 35.7% responden dan 62.5% responden). petani umumnya puas atau cukup puas dengan hasil vaksinasi dan sebagian kecil (9.3% responden) menyatakan tidak puas. 6. sebagian terbesar responden (74.4%) menyatakan bahwa memelihara ayam bermanfaat untuk meningkatkan gizi keluarga. kelembagaan di luar proyek yang berperan dalam urusan peningkatan gizi keluarga adalah posyandu (dinyatakan oleh 64.4%) dan pkk (dinyatakan oleh 14.2%) memegang peranan dalam urusan peningkatan gizi keluarga 7. wanita tani cukup besar peranannya dalam aspek keuangan dan perencanaan kebijakan dan pelaksanakan memutuskan dan tugas usaha tani. fungsi bapak tani lebih berperan dalam pengadaan faktor produksi dan menentukan macam komoditi yang diusahakan. dalam kegiatan proyek (seperti dalam pengelolaan paket sapi dan kambing), peran wanita tani adalah dalam pemeliharaan; dalam hal kegiatan pedesaan, para wanita tani sangat berperan secara aktif, seperti pkk dan sebagainya. peranan wanita tani untuk membantu menambah pendapatan keluarga sangat dominan (berdagang dan beternak). 8. pelatihan petani dinilai cukup membantu keberhasilan proyek namun mengharapkan tambahan materi lain untuk pelatihan selanjutnya (antara lain pelatihan ib). 9. pelatihan bagi staf proyek dinilai oleh peserta umunya cukup membantu dalam keberhasilan proyek namun disarankan untuk menmperoleh pelatihan lebih lanjut tentang keswa, ib, dan dirasakan perlunya sekolah lapang, jenis pelatihan ditentukan peserta sesuai kebutuhan yang berkesinambungan. 10. hampir 60 % responden lebih menghendaki agar putkati tetap dikelola oleh pusat, mengingat daerah belum cukup mempunyai sumber daya tenaga yang andal, dan kemampuan keuangan daerah yang masih terbatas. propinsi gorontalo hampir 100 % mereka 185evaluasi ekonomi mikro: dampak proyek… (budiman notoatmojo) menghendaki agar putkati tetap ditangani pusat sepenuhnya. di sisi lain, sulut menghendaki agar putkati sepenuhnya ditangani derah, sesuai dengan semangat uu no.22 dan 25 /1999. sulawesi selatan mengharapkan sebagian komponen penangnanan proyek diserahkan daerah dan pusat bertanggung jawab sepenuhnya dalam realisasi dan pertanggung jawaban proyek. 11. posisi perkembangan proyek putkati dalam implementasi sistem dan pola perkreditan sapi dan kambing adalah sebagai berikut. (a) repayment masih kecil (dari 26.218 ekor sapi yang disebarkan baru 718 ekor yang disetorkan; dari 18.301 ekor kambing yang disebarkan baru 575 ekor keturunan yang disetorkan); (b) angka kelahiran rendah (sapi 16.8% dan domba 37.5% ). (c) angka kematian tinggi (sapi 13.4% dan kambing 43.8% dari total populasi). (d) tingkat kehilangan sapi 2.7% dan kambing 1.9% dari total populasi. (e) tingkat penjualan ternak cukup tinggi (bolaang mongondow 63.8%, yaitu dari 47 keturunan pertama 30 ekor dijual). 12. sampai saat ini telah cukup banyak ternak keturunan yang dijual. dengan alasan lebih mudah dan mendapatkan uang tunai maka peternak lebih menyukai menjual ternaknya kepada tengkulak. hal lain yang mendorong penjualan ke tengkulak adalah keberadaan pasar hewan yang jauh lokasinya (> 10 km). di samping itu, risiko tidak laku dipasar hewan menjadi pertimbangan pula bagi petani untuk memilih menjual lewat tengkulak. hasil penjualan ternak sapi pada umumnya digunakan untuk memperoleh uang tunai guna memenuhi kebutuhan rumah tangga (meningkatkan pendapatan). beberapa responden menyatakan hasil penjualan ternak untuk keperluan pengembangan usaha tani, pendidikan, beli tanah, ataupun beli ternak. 13. hasil analisis dampak dengan metode regresi berganda menunjukan bahwa kegiatan putkati berpengaruh positif terhadap peningkatan total pendapatan petani proyek. peningkatan pengelolaan usaha tani ternak akan sangat berbeda nyata dalam meningkatkan pendapatan total petani. peranan gender dan pelatihan memberikan sharing yang besar terhadap pendapatan total. peranan gizi ternyata memberikan indikator yang cukup baik untuk proyek. untuk petani penerima paket proyek akan memberikan dampak baik dalam peningkatkan gizi keluarga. untuk masalah desentralisasi, dari hasil analisis dan kenyataan lapang menunjukan efek negatif terhadap peningkatan pendapatan total petani saran 1. kegitan vakvinasi agar dilakukan disemua lokasi proyek secara berkala dan dengan cara yang benar. pelaksanaan vaksinasi seyogyanya makin bertumpu kepada kekuatan serta kemapuan masyarakat petani sendiri. kegiatan itu dan juga kegiatan pengelolaan ternak kecil diarahkan dalam rangka meningkatkan peranan wanita dalam pencapaian tujuan dan sasaran proyek. 2. dalam rangka mendukung kemampuan petani untuk melunasi kreditnya disarankan untuk meningkatkan kegiatan penyuluhan, bimbingan, dan pendekatan persuasif yang kontinu sebagaimana diharapkan petani responden, yaitu agar ternaknya dapat beranak ‘setiap tahun’. di samping itu, program redistribusi perlu dijabarkan dalam “format” yang mudah dapat dicerna oleh petani-kelompok-petugas (semacam “buku pinter yang berisi antara lain jadwal distribusi masing-masing petani dan catatan permasalahannya”). perlu diadakan monitoring, evaluasi perkembangan, identifikasi permasalahan secara lebih tajam serta hasil pemecahan masalah. untuk mempercepat pemecahan masalah, dalam hal yang sangat penting diadakan “rapid assistance strategy” dengan mengadakan kunjungan langsung di lokasi dan journal the winners, vol. 3 no. 2, september 2002: 161-187 186 mengadakan pertemuan khusus dengan pihak yang dinilai dapat memecahkan permasalahan secara cepat. 3. masalah keinginan peserta proyek untuk menjual ternaknya setelah lunas perlu diwaspadai dan perlu diupayakan langkah pengamanannya sehingga dampak positif proyek tidak hilang demikian saja. masalah ”sustainability proyek” perlu digali di lapangan dengan mengidentifikasikan potensi yang ada yang telah dicapai oleh petani, kelompok, desa, dan selanjutnya mengembangkan sda dan sdm yang ada tersebut ke tingkat pengembangan berikutnya secara horizontal (perluasan areal pengembangan) ataupun secara vertikal (pengembangan usaha bersama dengan maksud meningkatkan skala usaha dengan pendekatan “agrobisnis”). 4. disarankan agar dilakukan identifikasi yang mendalam mengenai “training need” pelatihan lanjut untuk petani dan staf proyek, terutama dikaitkan dengan materi pelatihan yang terkait banyak dengan masalah pengembangan ternak (antara lain, ib-manajemen reproduksi, penanganan kemajiran). 5. dalam rangka “desentralisasi” disarankan untuk mengadakan identifikasi, monitoring, dan evaluasi secara lebih cermat lagi mengenai minat dan kemampuan daerah untuk pelaksanaan proyek putkati. selanjutnya dari hasil analisis identifikasi, monitoring, dan evaluasi tersebut diformulasikan dijabarkan program pembinaannya sehingga pada saatnya daerah akan mampu mengelola dan mengembangkan proyek putkati dengan sebaik-baiknya. 6. dari hasil analisis regresi linier berganda, sangat disarankan agar proyek lebih meningkatkan peranan gender dalam setiap kegiatan proyek. di samping itu, peranan pelatihan agar dilakukan studi/rra mengenai training needs dan training strategy sehingga kegiatan pelatihan sesuai dengan kebutuhan petani, pejabat, dan konsumen lainnya 187evaluasi ekonomi mikro: dampak proyek… (budiman notoatmojo) daftar pustaka anonim. 2002. laporan perkembangan proyek putkati, dinas pertanian propinsi maluku tenggara. ______. 2002. laporan perkembangan proyek putkati, dinas pertanian propinsi maluku tenggara. ______. 2002. laporan perkembangan proyek putkati, dinas pertanian propinsi sulawesi utara. ______. 2002. laporan perkembangan proyek putkati, dinas pertanian propinsi gorontalo. ______. 2002. laporan perkembangan proyek putkati, dinas peternakan propinsi sulawesi selatan. ______. 2002: laporan perkembangan proyek putkati pusat, dit.jen peternakan, deptan, jakarta. ______. 2000. laporan unops, ifad –adb. notoatmojo, budiman. 2002. gender analisis di putkati. jakarta. microsoft word 01_siswono.doc analisis dan perancangan sistem … (siswono; dkk) 95 analisis dan perancangan sistem e-crm pada pt paramitra media perkasa siswono1; juni liem2; arieany prasetyo3 abstract customers are the key to achieve company’s success, that’s why company should actively participate in keeping a good relationship with them. one of the ways to create a good relationship with customers is by applying e-crm (customer relationship management). a research at pt paramitra media perkasa is focused in marketing by interviewing managers and telemarketers, analizying business process, and after doing library research. based on the analysis,it can be figured out a problem in continuously making a relationship with customers. with e-crm system, hopefully it will help company manage and keep a good relationship with costumers, as a result it will able to increase profit and company’s productivity. keywords: costumer, e-crm abstrak pelanggan merupakan kunci keberhasilan suatu perusahaan, oleh karena itu, perusahaan harus berperan aktif dalam menjaga hubungan dengan pelanggan. salah satu cara untuk membina hubungan dengan pelanggan adalah dengan menerapkan e-crm (customer relationship management) pada perusahaan. penelitian pada pt paramitra media perkasa difokuskan pada bagian marketing, yaitu dengan mengadakan wawancara dengan manajer dan telemarketer, menganalisis proses bisnis yang berjalan, dan studi kepustakaan. berdasarkan hasil analisis ditemukan permasalahan dalam menjalin hubungan yang berkelanjutan dengan pelanggan pada perusahaan. dengan adanya sistem e-crm ini, diharapkan dapat membantu user untuk mengatur dan menjaga hubungan baik dengan pelanggan yang ada, sehingga dapat meningkatkan keuntungan dan produktivitas perusahaan. kata kunci: pelanggan, e-crm 1 staf pengajar fakultas ilmu komputer, ubinus, jakarta 2, 3 mahasiswa fakultas ilmu komputer, ubinus, jakarta journal the winners, vol. 6 no. 2, september 2005: 95-104 96 pendahuluan dewasa ini, banyak perusahaan yang bergerak di bidang industri yang sama sehingga menimbulkan persaingan di antara perusahaan yang ada. untuk tetap dapat bertahan, perusahaan harus memikirkan berbagai strategi untuk memenangkan persaingan yang ada. strategi yang umum dipakai saat ini adalah memberikan kepuasan terhadap konsumen melalui berbagai bentuk layanan. strategi tersebut yang biasa dikenal dengan nama e-crm (customer relationship management). pt paramitra media perkasa (lebih dikenal dengan drtv) adalah sebuah perusahaan yang bergerak di bidang penjualan berbagai macam produk inovatif. perusahaan ini memiliki banyak divisi dan salah satunya adalah divisi marketing. divisi marketing merupakan divisi yang menangani promosi produk melalui media tv dan juga melayani pemesanan melalui telepon kepada konsumen. selain itu, konsumen juga dapat membeli barang secara langsung di toko yang ada. tujuan perusahaan saat ini adalah mempertahankan konsumen yang ada, memperluas pangsa pasar dengan menganalisis proses bisnis perusahaan, dan hubungan perusahaan dengan konsumen, serta merancang sistem yang dapat membantu perusahaan dalam menjalin serta menjaga hubungan dengan konsumen. lingkup penelitian ialah: 1. analisis sistem yang sedang berjalan, khususnya divisi marketing yang memberikan pelayanan kepada konsumen melalui telepon. 2. perancangan aplikasi yang akan digunakan divisi marketing. tujuan utama penelitian ini adalah memberikan solusi terhadap masalah yang dihadapi perusahaan, yakni membantu perusahaan untuk menjaga hubungan dengan konsumen pada pt paramitra media perkasa. dengan sistem ini diharapkan hubungan konsumen dengan perusahaan tidak berakhir setelah transaksi pembelian produk selesai sehingga dapat menghasilkan keuntungan yang lebih besar bagi perusahaan. manfaat yang dapat diperoleh perusahaan ketika aplikasi e-crm ini diterapkan adalah meningkatkan pelayanan kepada konsumen sesuai dengan kebutuhan, membantu menciptakan hubungan yang berkelanjutan dengan konsumen, memberikan kemudahan untuk menindaklanjuti kebutuhan konsumen, mengetahui kondisi konsumen, dan dapat menjadi media untuk mempromosikan produk baru kepada konsumen. analisis dan perancangan sistem … (siswono; dkk) 97 pembahasan pengertian e-crm berikut ini adalah beberapa pengertian e-crm. 1. kincaid (2003:41) e-crm adalah strategi dalam menggunakan informasi, proses, teknologi, dan orang untuk memberdayakan hubungan antara perusahaan dengan konsumen (penjualan, pemasaran, pelayanan terintegrasi, dan dukungan) yang bergantung pada aksi terkoordinasi yang meliputi seluruh perusahaan. 2. kalakota dan robinson (2000:172) e-crm adalah fungsi terintegrasi dari strategi penjualan, pemasaran, dan pelayanan yang bertujuan untuk meningkatkan pendapatan dan kepuasan konsumen. 3. seybold (2002:11) e-crm adalah suatu cara untuk meningkatkan kepuasan konsumen, bisnis, dan kemampuan bersaing perusahaan. dari sudut pandang arsitektur, kerangka e-crm secara keseluruhan dapat diklasifikasikan dalam tiga komponen utama berikut. 1. operational e-crm adalah pengelolaan secara otomatisasi dari proses bisnis secara terintegrasi dan horizontal, termasuk customer touch-points dan integrasi front-back office. 2. analytical e-crm adalah analisis data yang diperoleh dari operational e-crm dengan memanfaatkan tools dan softwares untuk mendapatkan pemahaman yang lebih baik tentang perilaku konsumen atau kelompok konsumen. 3. collaborative e-crm seperangkat aplikasi dari pelayanan kolaborasi termasuk e-mail, e-communities, publikasi personal, dan alat lainnya yang sejenis yang dirancang untuk memfasilitasi interaksi antara para konsumen dengan perusahaan. dengan collaborative e-crm, perusahaan berkolaborasi dengan partner, pemasok, dan konsumen untuk memperbaiki proses dan memenuhi kebutuhan pelanggan. berbeda dengan mitos dari beberapa vendor software, e-crm bukanlah alat atau solusi atau jawaban cepat untuk menghadapi tantangan bisnis. e-crm adalah suatu strategi yang tiada hentinya (on going) untuk melayani konsumen semakin lebih baik lagi. dengan demikian, proses e-crm harus melibatkan semua aktivitas dalam usaha memperlakukan konsumen secara personal di setiap departemen dalam perusahaan (berson, et.al., 2000:45). journal the winners, vol. 6 no. 2, september 2005: 95-104 98 fase dalam e-crm kalakota dan robinson (2000:113) membagi e-crm dalam 3 fase sebagai berikut. 1. fase-1 acquire (menambah jumlah pelanggan baru) memperoleh konsumen baru dengan menawarkan produk atau pelayanan yang mendorong peningkatan kerja, kenyamanan dan inovasi, sekaligus menawarkan berbagai kemudahan bagi konsumen. 2. fase-2 enhance (meningkatkan nilai tambah pelanggan) memberikan layanan yang bersifat one stop service untuk semua hal yang berhubungan dengan konsumen, mendorong terjalinnya hubungan yang lebih erat. nilai tambah yang diberikan dapat berupa penawaran produk/jasa dengan kualitas yang lebih baik. relasi pada tahap ini berkembang ke arah penjualan yang bersifat cross selling, yaitu penawaran produk komplemen, maupun up selling, yaitu penawaran produk dengan kualitas yang lebih baik. hal ini bertujuan untuk meningkatkan keuntungan bagi perusahaan. c. fase-3 retain (mempertahankan pelanggan yang menguntungkan) cara mempertahankan konsumen itu dengan berfokus pada pelayanan dalam segala situasi, menawarkan apa yang diinginkan oleh konsumen, dan bukan yang diinginkan oleh pasar. nilai lebih bagi konsumen adalah dengan adanya penawaran dari hubungan yang proaktif yang disukai oleh konsumen itu. sekarang ini, perusahaan besar memiliki fokus lebih banyak pada tahap untuk mempertahankan konsumen yang ada dibandingkan dengan menarik konsumen yang baru. electronic customer relationship management (e-crm) e-crm merupakan manajemen konsumen untuk ebusiness yang harus berhadapan dengan kompleksitas dari manajemen yang menarik bagi konsumen dan partner bisnis dalam berbagai macam media yang meliputi media online dan offline, personal contact, dan media komunikasi elektronik lainnya. seiring perkembangan e-crm, hubungan dengan konsumen menjadi lebih dinamis dan interaktif, memudahkan perusahaan menggunakan informasi untuk berkomunikasi lebih baik dengan pelanggan. tepatnya dengan menggunakan informasi tersebut, perusahaan dapat menciptakan hubungan yang benar dengan konsumen, adanya kesempatan untuk sukses, dan partner bisnis yang baik seperti karyawan mereka. mengapa diperlukan e-crm, seiring dengan perkembangan perusahaan, data konsumen semakin bertambah banyak. hal itu menyebabkan meningkatnya biaya yang harus dikeluarkan oleh perusahaan untuk memelihara dan mengolah data tersebut. oleh sebab itu, e-crm sangat diperlukan karena sistem ini mengolah data konsumen secara otomatis sehingga mampu meningkatkan efisiensi, kinerja perusahaan, dan menghemat biaya dalam hal yang berhubungan dengan konsumen mereka. analisis dan perancangan sistem … (siswono; dkk) 99 proses bisnis dan masalah yang dihadapi perusahaan sangat menyadari arti kesetiaan seorang konsumen. oleh karena itu, perusahaan mengambil suatu langkah, yaitu bergerak secara aktif untuk menjalin hubungan dengan pelanggannya. akan tetapi, langkah yang diambil oleh perusahaan masih mengalami banyak kesulitan. langkah awal yang diambil oleh perusahaan adalah dengan cara memberikan kepada setiap telemarketer database kosumen, dengan jumlah data konsumen yang berbeda-beda antara telemarketer yang satu dengan telemarketer yang lain. banyaknya data konsumen tergantung pada lamanya kerja telemarketer tersebut. setiap telemarketer berkewajiban untuk menjalin hubungan yang berkelanjutan dengan semua konsumen maupun dengan calon konsumen yang diberikan kepada mereka. selama ini, jadwal untuk menghubungi konsumen dilakukan secara manual, dan sangat mengandalkan kerajinan telemarketer untuk membuat dan melihat jadwal yang harus ia kerjakan pada hari itu. telemarketer juga hanya dapat melihat data pelanggan dan tidak dapat mengetahui histori transaksi dari seorang pelanggan. histori transaksi itu bertujuan untuk membantu telemarketer mengetahui transaksi-transaksi yang pernah dilakukan oleh konsumen dengan perusahaan. pada saat menghubungi pelanggan, telemarketer menanyakan respon konsumen terhadap produk serta kembali menawarkan produk yang ada. tanpa histori transaksi, telemarketer kesulitan untuk menawarkan kembali produk yang sejenis kepada pelanggan, walaupun tidak tertutup kemungkinan telemarketer menawarkan produk yang lainnya. untuk menanyakan respon pelanggan, telemarketer butuh untuk mengingat transaksi terakhir yang dilakukan oleh pelanggan. menurut hasil analisis, terlihat bahwa permasalahan yang dihadapi oleh perusahaan sebagai berikut. 1. telemarketer masih menyusun jadwal kegiatan secara manual. 2. telemarketer mengalami kesulitan untuk mengetahui status aktif dari pelanggan. apakah konsumen yang ada mempunyai status aktif 2 minggu, 1 bulan, atau 6 bulan terakhir. 3. telemarketer tidak dapat melihat histori transaksi sehingga untuk mempromosikan suatu produk telemarketer mengalami kesulitan. 4. banyaknya konsumen membuat telemarketer mengalami kesulitan untuk memberikan perhatian kepada konsumen yang ada. usulan pemecahan masalah melihat gambaran umum permasalahan yang dihadapi oleh perusahaan maka sangatlah dibutuhkan suatu media electronic yang dapat membantu telemarketer dalam meningkatkan layanan kepada pelanggan. penerapan e-crm secara electronic, akan memudahkan telemarketer melihat data konsumen yang dipercayakan kepadanya. selain itu, dengan adanya sistem e-crm ini akan sangat membantu telemarketer melihat journal the winners, vol. 6 no. 2, september 2005: 95-104 100 informasi mengenai transaksi konsumen sehingga memudahkan telemarketer untuk menjalin hubungan dengan pelanggan. perancangan sistem perancangan sistem untuk aplikasi e-crm dilakukan berdasarkan hasil analisis terhadap sistem yang berjalan pada pt paramitra media perkasa. aplikasi ini dirancang untuk membantu karyawan untuk meningkatkan pelayanan terhadap pelanggan, dengan cara membantu telemarketer mengelola waktu mereka untuk menghubungi (follow up) sejumlah konsumen yang dipercayakan kepada mereka untuk dilayani, sehingga hubungan dengan konsumen tidak berhenti sampai penjualan saja. sistem ini dirancang dengan menawarkan kemudahan bagi telemarketer di dalam melihat histori transaksi yang pernah dilakukan oleh pelanggan, serta dapat berfungsi untuk menawarkan produk kepada konsumen mereka. berikut adalah beberapa kemudahan yang diperoleh telemarketer dari aplikasi e-crm yang dirancang. 1. telemarketer dapat melihat agenda kegiatan yang akan dia lakukan pada hari ini (todo list), dapat menambah, mengubah, dan menghapus rencana kerjanya. 2. telemarketer dapat memilih bulan transaksi dari perusahaan sehingga follow up yang dilakukan telemarketer dapat dilakukan menurut periode bulan. 3. telemarketer dapat melihat semua nama konsumen yang dipercayakan perusahaan kepadanya, dapat melihat status keaktifan pelanggannya, dapat melihat histories transaksi dari konsumen dan apa saja minat konsumen. 4. sistem ini juga dapat membantu telemarketer memperhatikan masing-masing konsumen secara personal, seperti memberi ucapan selamat ulang tahun. rancangan layar di bawah ini diperlihatkan beberapa contoh rancangan layar yang digunakan dalam aplikasi e-crm. 1. layar home user (telemarketer) pada layar ini, user dapat melihat event yang diadakan oleh perusahaan dan informasi penting dari perusahaan. selain itu user dapat melihat nama-nama pelanggannya yang berulang tahun pada hari itu. di tampilan sebelah kiri terdapat agenda kerja untuk user. jika user klik new, maka akan masuk ke layar tambah kegiatan untuk menambah kegiatan. jika user meng-klik radio button maka user dapat memilih apakah ia akan melakukan update atau menghapus kegiatan. jika user telah selesai melaksanakan kegiatannya, user dapat memberi status dengan cara meng-klik check box yang ada (gambar 1). 2. layar pemesanan pada layar ini, user diminta untuk memasukkan nama yang ingin dicari pada kotak pencarian lalu klik search. jika data yang dicari ada maka akan ditampilkan semua data yang memiliki nama yang sama dengan nama yang ingin dicari kemudian user analisis dan perancangan sistem … (siswono; dkk) 101 dapat memilih nama konsumen yang diinginkan, apabila ada nama konsumen yang ditampilkan sesuai dengan nama konsumen yang ingin dicari, maka user dapat mengklik kode konsumen untuk masuk ke layar form_pesan. apabila nama yang dicari tidak ada atau tidak sesuai dengan yang ingin dicari maka user dapat meng-klik tombol new, lalu masuk ke layar form_pesan (gambar 2). 3. layar formulir pemesanan apabila user meng-klik kode konsumen pada layar pemesanan, maka pada layar form_pesan, sistem akan menampilkan semua data konsumen yang diperlukan yang ada di database setelah itu user mengisi data yang diperlukan lainnya. apabila user meng-klik tombol new pada layar pemesanan, maka pada layar form_pesan sistem akan menampilkan form kosong, dimana user diminta untuk meng-input semua data yang diperlukan (gambar 3). 4. layar histori transaksi layar ini digunakan untuk melihat histori transaksi perusahaan dengan menggunakan periode bulan. user dapat memilih bulan dan tahun yang diinginkan. jika tidak memilih maka secara otomatis akan ditampilkan histori transaksi bulan sebelumnya (follow up dilakukan sebulan setelah transaksi) pada tahun di mana sistem digunakan. jika user mengisi nama produk pada kotak pencarian lalu meng-klik search, maka ditampilkan semua data yang memiliki nama produk sama dengan yang dicari. tanggal follow up akan terisi secara otomatis sewaktu meminta respon terhadap produk yang dibeli oleh pelanggan (gambar 4). 5. layar pelanggan user akan memasuki layar ini apabila user meng-klik tombol konsumen pada layar project. user dapat mengisi nama konsumen yang hendak ia cari pada kotak pencarian, lalu meng-klik search. lalu akan ditampilkan semua nama konsumen yang sama dengan yang dicari. apabila user meng-klik kode konsumen yang ada, maka user akan masuk ke layar detail_pelanggan. jika user juga mengisi nama produk pada kotak pencarian yang disediakan, maka akan ditampilkan semua konsumen yang pernah membeli produk atau menaruh minat pada produk tertentu. di sini user juga dapat melihat tanggal keaktifan terakhir dari pelanggan (gambar 5). 6. layar event pada layar ini admin dapat melihat semua event yang diadakan oleh perusahaan dan untuk telemarketer yang mana event itu diadakan. admin bertugas untuk mengelola event-event yang ada. admin dapat menambah event dengan meng-klik tombol new. apabila admin meng-klik check box yang ada di samping event, maka admin dapat memilih untuk meng-update atau men-delete event yang dipilih (gambar 6). journal the winners, vol. 6 no. 2, september 2005: 95-104 102 gambar 1 layar home user (telemarketer) gambar 2 layar pemesanan gambar 3 layar formulir pemesanan gambar 4 layar histori transaksi analisis dan perancangan sistem … (siswono; dkk) 103 gambar 5 layar pelanggan gambar 6 layar event penutup simpulan yang dapat diperoleh dari penelitian ini sebagai berikut. 1. dapat meningkatkan hubungan dan menjaga kesetiaan konsumen terhadap perusahaan dengan adanya sistem e-crm. 2. sistem e-crm ini dirancang dan diimplementasikan untuk digunakan oleh karyawan perusahaan saja. 3. sistem ini membutuhkan database yang terintegrasi dengan aplikasi yang digunakan. journal the winners, vol. 6 no. 2, september 2005: 95-104 104 daftar pustaka barnes, james. 2003. secrets of e-crm. yogyakarta.:andi berson. a., et al. 2000. building data mining applications for e-crm. mcgraw-hill, usa. chaffey, dave. 2002. e-business and e-commerce management. new jersey: prenticehall inc. kalakota, ravi and marcia robinson. 2000. e-business 2.0: roadmap for success. massachussets: addison-wesley. reading. kincaid, judith w. 2003. customer relationship management-getting it right! new jersey: prentice hall ptr seybold, patricia. 2002. an executive’s guide to e-crm : how to evaluate e-crm alternatives by functionality, architecture, and analytics. shneiderman, ben. 1998. designing the user interface. addison-wesley longman, inc. strauss, judy and frost raymond. 2001. e-marketing, edisi ke-2. new jersey: prenticehall inc. whitten, j. bentley, and j. d. barlow, v. 2001. system analysis and design methods. mcgraw-hill. vol. 21 no. 2 september 2020 economic, business, management, and information system journal winnersthe journal p-issn: 1412-1212 e-issn: 2541-2388 editor in chief arta moro sundjaja bina nusantara university, indonesia managing editors nico surantha bina nusantara university, indonesia christian harito bina nusantara university, indonesia national editor board dhiresh kulshrestha university rajkot -gujarat (india), india halimin herjanto marist college, united states martin thomas falk university of south-eastern norway, norway prof. sangeeta sahney indian institute of technology kharagpur, india sivadass thiruchelvam universiti tenaga nasional putrajaya, malaysia yudi fernando universiti malaysia pahang, malaysia elia ardyan surakarta economics college, indonesia hendry hartono bina nusantara university, indonesia sevenpri candra bina nusantara university, indonesia language and layout editor shavira sarashita bina nusantara university, indonesia dina nurfitria bina nusantara university, indonesia eka yanti pangputri bina nusantara university, indonesia atmawati bina nusantara university, indonesia holil bina nusantara university, indonesia secretariat dewi novianti bina nusantara university, indonesia description the winners is a semiannual journal, published in march and september. the winner focuses on various issues spanning in economics, business, management, and information system through this scientific journal. the winners has been acredited by dikti under the decree number 34/e/kpt/2018 (sinta 3) and indexed by academic research index (research bib), microsoft academic search, garda rujukan digital (garuda); bielefeld academic search engine (base), world catalogue (worldcat) and google scholar, and indonesian research repository (neliti). research and technology transfer office, bina nusantara university, anggrek campus, jl. kebon jeruk raya 27, kebon jeruk, jakarta barat 11530, tel. +621-5350660 ext. 1705/1708, fax.+621-5300244, e-mail: thewinners@binus.edu, https://journal.binus.ac.id/ index.php/winners contents liulliyah; apol pribadi subriadi performance measurement of academic information systems using performance prism and iso/iec 25010 .... 75-83 iqbal ramadhani fuadiputra; khusnul rofida novianti the effect of work autonomy and workload on job satisfaction of female workers in the banking sector: mediating the role of work life balance ................................................................................... 85-91 vina christina nugroho sustainable growth rate model in indonesia manufacturing firms ..................................................... 93-100 shinta maurizka chairunnisa; alfina; annisa yasmin observing micro, small, and medium enterprises (msmes) readiness to support cashless society ................ 101-106 iwan henry wardhana; renny nurhasana social unrest of betawi’s traditional arts and culture performers during covid-19 pandemic .................... 107-112 ririn fitaloka; bima sugarai; andi randirga arung perkasa; nopriadi saputra leadership agility and digital quotient influence on employee engagement: a case of pt x and pinrumah.com............................................................................................ 113-117 djoko raditya; willy gunadi; dennis andariski setiono; jonathan andreas rawung the effect of ad content and ad length on consumer response towards online video advertisement .......... 119-128 rano kartono; afif wildan tamami the determinant factors of kai access awareness in pt kereta api indonesia from millennial generation perspective..................................................................................... 129-139 victory haris kusuma wardhana; maria grace herlina; sugiharto bangsawan; michael aaron tuori regulatory developments in the gig economy: a literature review ................................................... 141-153 vira dessy arisandi; santi delliana the influence of promotion via line messenger on the attitude of starbucks’ line official account followers 155-161 index.............................................................................................................................. 163-166 p-issn: 1412-1212 e-issn: 2541-2388 vol. 21 no. 2 september 2020 economic, business, management, and information system journal winnersthe journal microsoft word 04_atmajaya_factors affecting student achievement_a2t.docx factors affecting student…… (lily suhaily; yasintha soelasih) 25 factors affecting student achievement in faculty of economics "x" university lily suhaily1; yasintha soelasih2 1, 2faculty of economics, universitas katolik indonesia atma jaya jln. jenderal sudirman no. 51, karet semanggi, setia budi, jakarta 12930 lily.eddy@atmajaya.ac.id1; yasintha.soelasih@atmajaya.ac.id2 abstract education is an important point for many countries, including indonesia. people with high education in a country could make the country wealthier. parents are usually aware that it is important for their children to be educated. if the children are well educated, they will increase the standard of living of their parents and their selves. based on this phenomenon, research evaluated factors that influence student achievement and also evaluated the difference of achievement between students who are active in campus activities and are not active. a number of 329 questionnaires were distributed to faculty of economics, “x” university students using random sampling. the result shows that the students themselves as factor that could determine their achievement. the evaluation also found that the achievement of student who is active in campus activities is different with the achievement of student who is not active in campus activities. keywords: education, achievement, parents, students abstrak pendidikan merupakan hal penting di berbagai negara di dunia, termasuk indonesia. jumlah masyarakat berpendidikan tinggi akan dapat memajukan negara yang bersangkutan. para orang tua menyadari bahwa mendapatkan pendidikan yang baik merupakan hal penting bagi anak-anak mereka. jika anak-anak mendapatkan pendidikan yang baik, mereka akan mampu meningkatkan standar hidup orang tua mereka, begitu juga dengan standar hidup mereka sendiri. berdasarkan fenomena ini, penelitian mengevaluasi faktor-faktor yang memengaruhi prestasi belajar mahasiswa. penelitian juga mengevaluasi perbedaan antara prestasi mahasiswa aktif tidak aktif dalam kegiatan kampus. sejumlah 329 kuesioner disebarkan kepada mahasiswa fakultas ekonomi, universitas "x" dengan menggunakan random sampling. hasil penelitian menunjukkan bahwa hanya mahasiswa sebagai faktor yang dapat menentukan prestasi mereka. evaluasi juga menemukan bahwa prestasi mahasiswa yang aktif di kegiatan kampus berbeda dengan mahasiswa yang tidak aktif. kata kunci: pendidikan, prestasi, orang tua, mahasiswa 26 journal the winners, vol. 16 no. 1, march 2015: 25-35 introduction education is an important point for many countries in the world, including indonesia. a number of highly educated people will advance the country. indonesia as a country emerging in middle class requires good quality education and good graduation achievement as well. so emerging in middle class is an opportunity for foreign investors to invest in indonesia. generally, foreign investors require highly educated employees with good avhievement. people in indonesia realize that education is highly important for children in order to increase standard of living. parents usually send their children to pursue higher education in the hope for a good education. universities chosen by the children encouraged by parents can produce graduates with a good achievement, so it is easy to get a job or open their own business (entrepreneurship). the rise or the high level of competition of universities in indonesia, especially in big cities, eg. jakarta, makes each university compete to produce graduate students with good achievement. good achievement facilitates college graduates to work in the business world, so that the college would be famous. famous universities will positively impact the survival of the college because many parents will enroll their children in those universites. "x" university as one of private universities in jakarta needs to pay attention to its graduate students and strive to produce students who graduate with good achievement. to produce graduation with good achievement, "x" university needs to pay attention to the factors of student achievement. this research aims to determine the factors that affect achievement of graduate students at the "x" university as well as whether there is a difference of student achievement between the students who actively participates in activities on campus and are not actively participating in activities on campus. the factors that determine the success of the students are: the attitude of the student, and the physical health and readiness of the student to enter the world of college and their hopes after graduation to graduate (ali, 1983). according to biegel (2000), the presence of students in the classroom is an important part for achievement. with a presence in class, students could follow what is described by the lecturers and do the tasks given by lecturers as well. chung (2004) stated there is a significant correlation between the presence of students in the regular class with success achievement. twenty nine percent of students who works 30-39 hours per week and 39 hours as full-time employees would have a negative impact on their academic success (fur and elling in watanabe & jasinski, 2005). working full time has a large negative impact on students' academic value, so that to obtain a bachelor degree is difficult (astin in watanabe & jasinski, 2005). it occurs because the workload given takes time and is difficult to concentrate in completing the tasks. however, poor sleep habits may contribute to the ability of students to reach the achievement (buboltz, brown, & soper, 2001). students who have poor sleep habits are difficult to focus in class because of sleepiness. therefore, as in chung (2004), there is a significant correlation between the presences of students in regular class with success achievement. additionally, student’s willingness to work hard would achieve the learning achievement (noftle & robins, 2007). on the other hand, lecturer attitude to students, types of classroom control, curriculum content, lecturer adequacy in professional qualification and preparation, instructional contents and presentation, use of relevant teaching aids would have a positive impact on student achievement (flowers, 1966; burstall, 1970; pidgeon, 1970). lecturer who is friendly with students would make the students dare to ask in the class if they do not understand the lesson. ability of lecturer in controlling the atmosphere in the classroom would make students understand the explanation given by the lecturer. professional qualification of teachers in terms of mastering science taught would make students have accurate factors affecting student…… (lily suhaily; yasintha soelasih) 27 knowledge of the discipline. lecturer preparation to teach with a good presentation is important because the material taught can be explained well. if the student asks, the lecturer will be able to answer the question, so that the student could appreciate the lecturer. additionally, relevant tools such as in-focus, video, loudspeakers functioning properly make the student eager to to attend the class. type of university, the number of students in the classroom, discipline, interaction among students, the current value of the entrance exam, exam given would have an impact on the student achievement (pidgeon, 1970; ali, 1983). environment and motivation give a very strong influence on academic achievement (cronbach, 1969; atkinson, 1978). while the condition of campus buildings, such as the condition of the lift and the classroom affect the student achievement (edwards, 1991). if the conditions and the number of lift are inadequate, they would make the student late for class, so they will affect on the student achievement. uncomfortable classrooms and nonworking ac make students feel the heat so the learning process cannot run properly. the number of students in the classroom also affects their achievement (angrist & lavy, 1999; hoxby, 2000). the number of children in the family also affects the student achievement (hanushek, 1992). this condition may occur because there is no serenity to learn at home. moreover, family income and parents education are also one of the factors that affect the learning process the student (murnane, maynard, & ohls, 1981; hanushek, 1992; goldhaber & brewer, 1997; ehrenberg & brewer, 1994; ferguson & ladd, 1996). this condition may occur because the family is not able to pay their children’s tuition, so the children should work to pay for the tuition. if parents education is not high, how they can educate their children. the closeness of family with children is a major factor in determining children’s academic performance (lee, hamman, & lee, 2007). this condition allows the children who have problems at school could talk to their parents. from the psychological side, children do not feel pressured when they face problems because there are solutions from the parents. this makes children concentrate to study well. the involvement of parents in their children's education will encourage children to study more diligent so the performance is expected to be achieved (halawah, 2006). another factor that determines the success of students to reach the achievement is family background (strauss, 1951; lloyd & pidgeon, 1961; ali, 1983). when the parents are not harmonious and divorced; and students cannot face this situation, it will affect the learning process. hence, based on the theory, this research looks for the factors which can improve student performance of the faculty of economics (fe) in "x" university. besides, this research looks for the difference of fe student achievement between students who actively participate in campus activities and students who do not actively participate in campus activities in "x" university as well. the research model is as follows. figure 1 research model 1 student lecturer university family student achievement ips score ipk score 28 journal the winners, vol. 16 no. 1, march 2015: 25-35 figure 2 research model 2 method this research used descriptive analysis by examining the factors that influence student achievement and the difference between active and not active student in campus activities. the indicators are described in table 1. table 1 the indicators that affect student achievement variable indicator source student 1. students who lack sleep, hard to concentrate in class. 2. students who often not study (skip) make it difficult to understand what has been taught by lecturers. 3. students who are not healthy will be often not study and do not understand the cause of the courses be taught. 4. students have aspirations after graduating college. 5. students must have a strong motivation to get the best value. 6. students will ask the professor if not understand being taught. 7. students active in campus activities will face obstacles to attend college. 8. students active in campus activities will be obtain the value of the low tuition. 9. students who are active in campus activities will be take courses who little persemesternya. (buboltz et al., 2001) (biegel, 2000) fur and elling (watanabe & jasinski, 2005) (noftle & robins, 2007) lecturer 10. lecturer with a friendly attitude with the student, then students are not afraid to ask. 11. lecturers who teach master taught courses. 12. lecturers who ready to teach will be give a good study. 13. dosen using in-focus easier for the student to understand what is being taught. 14. dosen using video easier for the student to understand what is being taught. 15. lecturer using loudspeakers facilitate students to understand what is being taught. 16. nilai exams who distributed to the student, will trigger them to study harder. (flowers, 1966); (pidgeon, 1970) university 17. good university, generally have professional teaching staff. 18. university with a high degree of discipline who will be have an impact on the learning process. 19. campus environment who clean, do not smoke make the student learn better. 20. the more the number the student in one class, the learning process will be disrupted. 21. building a good campus, elevators who sufficient and adequate number of classrooms who can make the student learn well. (pidgeon, 1970); (cronbach, 1969); (atkinson, 1978); (edwards, 1991); (angrist & lavy, 1999); (hoxby, 2000) achievement students active participate in campus activities achievement students who are not active participate in campus activities ≠ factors affecting student…… (lily suhaily; yasintha soelasih) 29 table 1 the indicators that affect student achievement (continued) variable indicator source family 22. harmonious family atmosphere support the success of the study. 23. the involvement of parents in their children's education will be encourage the student to learn more diligent so the performance is expected to be achieved. 24. family income is one of the success factors of the study. 25. education of parents is one of the factors of success in the study. (murnane et al., 1981); (hanushek, 1992); (goldhaber & brewer, 1997); (ehrenberg & brewer, 1994); (ferguson & ladd, 1996) (lee et al., 2007) (halawah, 2006) (strauss, 1951); (lloyd & pidgeon, 1961); (ali, 1983) the population was fe students "x" university. the students were the class of 2010, 2011, and 2012 because they have entered into semesters 8, 6, and 4. so that the they had experienced a minimal learning process of four semesters. the number of students was as much as 1855. based on the existing population, it would be sampled using slovin formula as follows: 21 ne n n + = (1) description: n = sample size n= population size e = concessions inaccuracy because sampling error can be tolerated, eg 5% or 10%. the number of sample: ( )2%518551 1855 x n + = =n 328,9 = 329 students. total samples were 329 respondents. samples were taken with simple random probability sampling. this method was conducted by randomizing the student class of 2010, 2011, and 2012. the number of student class of 2010 was as many as 495 people, class of 2011 was 657 people, and class of 2012 was 703 people. furthermore, research shuffled the students of 2010, the result of the scramble obtained the number of students 83 people, for the class of 2011 earned the number of students as many as 107 people and the forces in 2012 as the number of students obtained 139 people. furthermore, research distributed questionnaire in class attended by students of class 2010, 2011, and 2012 in july to august 2014. data were analyzed using multiple regression analysis and different test. multiple regression analysis was used to determine the factors that influence student achievement in university "x". while different test was used to determine whether there was a different in student achievement if they were active in campus activities. 30 journal the winners, vol. 16 no. 1, march 2015: 25-35 results and discussion test results of indicators in this study were shown by reliability and validity test. reliability test used cronbach's alpha, while the validity test used pearson correlation. from the reliability test (see table 2), it can be said that all the variables studied are reliable because the value of cronbach alpha above 0.60 (sunyoto, 2007). table 2 reliability test variable cronbach's alpha n of items student .684 9 lecturer .718 7 university .679 5 family .601 4 the validity test results showed that all indicators can form the existing variable, as shown by the validity of significant value (table 3). results of data collected then seen the characteristics of respondents in table 4. table 3 validity test indicator student lecturer university family x1 .471** x2 .563** x3 .585** x4 .431** x5 .430** x6 .477** x7 .617** x8 .608** x9 .578** x10 .429** x11 .625** x12 .630** x13 .686** x14 .636** x15 .630** x16 .621** x17 .694** x18 .724** x19 .660** x20 .604** x21 .658** x22 .473** x23 .538** x24 .562** x25 .547** factors affecting student…… (lily suhaily; yasintha soelasih) 31 table 4 characteristics of respondents number. characteristics of respondents total % 1. gender: man woman 155 174 47.1 52.9 2. force: 2010 2011 2012 24 68 237 7.3 20.7 72 3. ipk score 2 .00– 2.75 2.76 – 3.5 3.51 – 4.00 87 179 63 26.4 54.4 19.1 4. khs score 0.00 – 1.29 1.30 – 1.49 1.50 – 1.99 2.00 – 2.59 2.60 – 3.59 3.60 – 4.00 5 6 18 64 205 31 1.5 1.8 5.5 19.5 62.3 9.4 5. student who participate the organization yes no 199 130 60.5 39.5 table 4 shows that respondents are more women than men, drawn most of class 2012. the number of respondents who fetched by highest ipk is from 2.76 – 3.5, while for khs ips values are drawn from 2.60 – 3.59. the fe students active in organization were 199 respondents. table 4 shows overall fe students are relatively active in the organization activities. although they are active, but the gpa or ips they are not too low. to answer the problems, the research used regression and different test. regression analysis was used to determine the influence of factors that exists for student achievement to determine differences in student while active and inactive against achievement then used a different test. regression analysis table 5 model summaryb model r r square adjusted r square std. error of the estimate 1 .143a .021 .008 1.38966 a. predictors: (constant), mahasiswa, dosen, universitas, keluarga b. dependent variable: prestasi from the table above, the value of r square is 21%. it means variable performance can be explained by student, faculty, university, and family by 21% and the remaining 79% is explained by other variables outside the model. 32 journal the winners, vol. 16 no. 1, march 2015: 25-35 table 6 anovab model sum of squares df mean square f sig. 1 regression 13.147 4 3.287 1.702 .149a residual 625.692 324 1.931 total 638.839 328 a. predictors: (constant), student, lecturer, university, family b. dependent variable: achievement anova results above show a significance value of 0.149 above 0.05. this shows that the simultaneous variables: students, faculty, university, and the family have no effect on student achievement. table 7 coefficientsa model unstandardized coefficients standardized coefficients t sig. b std. error beta 1 (constant) 6.602 .077 86.170 .000 student -.175 .080 -.125 -2.183 .030 lecturer -.069 .092 -.050 -.755 .451 university .159 .098 .114 1.621 .106 family -.012 .093 -.009 -.128 .899 a. dependent variable: prestasi from the coefficient table above, it can be said there is a partial influence on student achievement student, but the faculty, the university, and the family have no effect on student achievement. difference test table 8 group statistics organization n mean std. deviation std. error mean achievement yes 199 6.7136 1.27262 .09021 no 130 6.3769 1.65312 .14499 factors affecting student…… (lily suhaily; yasintha soelasih) 33 tabel 9 independent samples test levene’s test for equality of variances t-test for equality of means 95% confidence interval of the difference f sig. t df sig. (2-tailed) mean difference std. error difference lower upper achievement equal variances assumed 14.268 .000 2.081 327 .038 .33664 .16181 .01833 .65496 equal variances not assumed 1.971 226.137 .050 .33664 .17076 .00015 .67314 for two-independent sample t-test, seen from the results of hypothesis lavene's test to determine whether the assumption of equal variance is both met or not met with the hypothesis: ho: σ1 2 = σ22 to hi: σ12 ≠ σ22 where σ12 = variance group 1 dan σ22 = variance group 2. from the levene’s test result obtained that p-value = 0,00 is smaller than α = 0,05, so ho: σ12 = σ22 is rejected. in other words, assuming the variance is not great (equal variances not assumed). because the results of lavene’ test show the second assumption variance is not as great; it is necessary to use t-test results of two independent sample assuming unequal variances both for the hypothesis ho: µ1≥µ2 to hi: µ1<µ2 that give the value t = 1.971 degree of freedom 226.137 and p-value (2-tailed) = 0.050. it can be concluded that the means of student active in organization have lower achievement than students who are not active in organization. on the model summary table above, the value of r square by 21% means a variable achievement can be explained by students, faculty, university, and family. the remaining 79% is explained by other variables outside the model. another variable that could have influence is social environment of the students. the results showed the presence of the effect of self respective student to student achievement. this is due to student themselves decide whether they want to quickly pass by best value or not. for students by high motivation for achievement is certainly not will be skip study, study hard, tried hard to understand what is described by the lecturer. however, lecturers, university and family have no effect on student achievement. it happens all the back to the students concerned. any professional lecturers who teach, students who do not care or do not have the motivation to excel still no effect. as well as any facilities provided by the university and harmonious as any family, not necessarily make student intend to excel. furthermore, there are differences in achievement between the students who are actively involved in campus activities that do not active participate by campus activities. this means that students who are actively involved by campus activities different achievement who did not participate. for students who active participated campus activities achievement will be go down because the time spent to go study and learn a limited. conclusion the results showed that there is an influence of student to student achievement. however, lecturers, university, and family have no effect on student achievement. moreover, there are differences in achievement between the students who are actively involved in campus activities than they who do not actively participate in campus activities. 34 journal the winners, vol. 16 no. 1, march 2015: 25-35 references ali, a. (1983). attitudes of nigerian secondary school students towards school and their academic achiement in science. journal of nigerian education, 3(2), 11–17. angrist, j., & lavy, v. (1999). “using maimonides” rule to estimate the effect of class size on scholastic achievement. quarterly journal of economics, 64(2), 533–576. atkinson, j. w. (1978). the mainsprings of achievement oriented activity. in j. w. atkinson & j. o. raynor (eds.), personality motivation and achievement (pp. 11–39). new york: john wiley & sons. biegel, s. (2000). the interfaces between attandance, academic achievement, and equal educational opportunity. northern district of california. buboltz, w., brown, f., & soper, b. (2001). sleep habits and patterns of college students: a preliminary study. journal of american college health, 50(3), 131–135. http://doi.org/10.1080/07448480109596017 burstall, c. (1970). french in the primary school: some early findings. journal of curriculum studies, 2(1), 48–58. http://doi.org/10.1080/0022027700020107 chung, c. j. (2004). the impact of attendance, instructor contact, and homework completion on achievement in a developmental logic course. research & teaching in developmental education, 20(2). retrieved from https://www.questia.com/library/journal/1p3589967561/the-impact-of-attendance-instructor-contact-and cronbach, l. (1969). heredity, environment, and educational policy. harvard educational review, 39(2), 338–347. http://doi.org/http://dx.doi.org/10.17763/haer.39.2.nvr226676j010551 edwards, m. m. (1991). building conditions, parental involvement, and student achievement in the d.c. public school system. georgetown university. ehrenberg, r. g., & brewer, d. j. (1994). do school and teacher characteristics matter? evidence from high school and beyond. economics of education review, 13(1), 1–17. ferguson, r. f., & ladd, h. f. (1996). how and why money matters: an analysis of alabama schools. in h. f. ladd (ed.), holding school accountable: performance–based reform in education (pp. 256–298). washington d.c.: the brookings institution. flowers, c. e. (1966). effects of an arbitrary accelerated group placement on the tested academic achievement of educationally disadvantaged students. teachers college, columbia university. goldhaber, d. d., & brewer, d. j. (1997). why don’t schools and teachers seem to matter? assessing the impact of unobservables on educational productivity. journal of human resources, 32(3), 505–523. halawah, i. (2006). the effect of motivation, family environment, and student characteristics on academic achievement. journal of instructional psychology, 33(2), 91–99. factors affecting student…… (lily suhaily; yasintha soelasih) 35 hanushek, e. (1992). the trade-off between child quantity and quality. journal of political economy, 100(1), 84–117. hoxby, c. (2000). the effects of class size on student achievement: new evidence from population variation. the quarterly journal of economics, 115(4), 1239–1285. lee, p.-l., hamman, d., & lee, c. c. (2007). the relationship of family closeness with college students’ self-regulated learning and school adjustment. college student journal, 41(4), 779– 787. lloyd, f., & pidgeon, d. a. (1961). an investigation into the effect of coaching on non-verbal test materials with european, indian and african children. british journal of educational psychology, 31(2), 145–151. http://doi.org/10.1111/j.2044-8279.1961.tb02926.x murnane, r. j., maynard, r. a., & ohls, j. c. (1981). home resources and children’s achievement. the review of economics and statistics, 63(3), 369–377. noftle, e. e., & robins, r. w. (2007). personality predictors of academic outcomes: big fivecorrelates of gpa and sat scores. journal of personality and social psychology, 93(1), 116–130. pidgeon, d. a. (1970). expectation and pupil performance. nfer. strauss, m. a. (1951). mental ability and cultural needs – a physho-cultural interpretation of inteligence test of ceylon university entrants. american sociological review, 16, 371–375. sunyoto, d. (2007). analisis regresi dan kolerasi bivariat: ringkasan dan kasus. yogyakarta: amara. watanabe, l. e., & jasinski, j. (2005). the effects of college student employment on academic achievement. the university of central florida undergraduate research journal, 1, 38–47. retrieved from https://www.urj.ucf.edu/docs/urjmanuscript_watanabe_080509.pdf editor in chief rudy aryanto managing editors engkos achmad kuncoro (binus university, jakarta) idris gautama so (binus university, jakarta) yasintha soelasih (atma jaya university, jakarta) levyda (sahid university, jakarta) agus zainul arifin (tarumanagara university, jakarta) executive editors arta moro sundjaja noerlina editor/setter dina nurfitria eka yanti pangputri holil atmawati secretariat haryo sutanto administration address research and technology transfer office binus university anggrek campus, jl.kebon jeruk raya 27 kebon jeruk, jakarta barat 11530 ph. 021-5350660 ext. 1708 email: hsutanto@binus.edu, raryanto@binus.edu publication & issn published twice a year (march and september) p-issn: 1412-1212 e-issn: 2541-2388 vol. 18 no. 1 march 2017 economic, business, management, and information system journal winnersthe journal p-issn 1412-1212 e-issn 2541-2388 contents lyudmyla маlyarets; oleksandr dorokhov measuring the quality of signs for objects in the economy ........................................................... .. 1-11 nina maharani; lufthia sevriana analysis of attitude, motivation, knowledge, and lifestyle of the consumers in bandung who shop through instagram ................................................................................................. 13-23 agustian budi prasetya organizational learning (ol) and strategy: information processing approach to perform strategic choice analysis ................................................................................................................. 25-32 raghu bir bista economic liberalization in nepal: determinants, structure, and trends of fdi ..................................... 33-41 john romanach; walter e. block medical economics end food and drug administration (fda) and their impacts on public health ................ 43-48 journal p-issn 1412-1212 e-issn 2541-2388 vol. 18 no. 1 march 2017 economic, business, management, and information system journal winnersthe exploration of methods for small businesses …… (irene teresa rebecca; anita maharani) 1 exploration of methods for small businesses in determining the brand positioning through marketing mix concept irene teresa rebecca1; anita maharani2 1binus entrepreneurship center, management department, bina nusantara university 2business management program, management department, binus business school master program, bina nusantara university jl. kebon jeruk raya no. 27, kebon jeruk, jakarta 11530, indonesia 1irene.rebecca@binus.ac.id; 2anita.maharani@binus.edu abstract the purpose of this research was to show how small business owner reconstructed brand for its products through the concept of 7ps. the research method used was qualitative, with in-depth interviews with the owner of the brand keona. the results show that keona products keep producing an updated model that is able to compete, supported by price and after-sales service. then, consumers can find the products through the variety of channels. results of this study encourages managerial implications that the business owner of bag keona should keep up the quality assurance of its products, referring to standard operational procedures for service. moreover, the owner should also optimize the features of social media as a means of marketing, and produce product line for any segments. keywords: small business, brand positioning, marketing mix introduction the brand is a representation of a business which, ideally, should be able to understand how important brand is within itself. a brand will give exposure and make it easier for consumers to recognize the business. in addition, the brand is very important in marketing for using the brand; a product can be distinguished from other products. the presence of brand will also enhance competitiveness and influence consumer behavior in purchasing a product. as mentioned in forbes (2017) regarding the world brand that has high value, among others are apple, google, microsoft, and facebook as well as others. however, the brand is surely not only important for large-sized business. bosari (2012) has mentioned that regardless of the medium, small business has the right to have the brand. this is because the brand is something that differentiates between a business and another. thus, it can be concluded that the brand can be owned by either a small business or a large business. prior to understanding the brand, it is good to have the general understanding of the product. kotler and keller (2016) have mentioned that a product is any form that can be offered to the market, with the aim of satisfying the desires or needs, including products, services, experiences, activities, a person, a place, property, organizations, information, and ideas. furthermore, according to the american marketing association (1995), the brand is the name, term, design, symbol or any feature that identifies one product or service to be different from other products or services. in other words, the brand will make a product or service have more value. the brand is important for business, but in fact, it is not an easy task since there is a need for understanding brand considerations. on a large-sized business, there are positions that have the mailto:irene.rebecca@binus.ac.id mailto:anita.maharani@binus.edu 2 journal the winners, vol. 19 no. 1, march 2018: 1-7 responsibility to formulate brand, but it is different with small business. on the contrary, this will not happen to the small business, because they definitely have limited human resources, and often in practice, it is the founder or owner of the business that takes this responsibility. stoltz (2017) has mentioned that small business owners will do the marketing practices of their business, and the whole issues are done by them as well. therefore, it can be assumed that there are elements of establishing brand within marketing practices in small business, despite being not formal. in practice, there are many examples of small business that have perished because of their failure in introducing their brand rather than the product. in conclusion, small business needs to have a proper knowledge instead of doing marketing in practice, and that knowledge may relate to the brand. there are some studies which discuss brands in the small business, one of which is wong and merrilees (2005) who have raised the question about the orientation of brand in the medium-small business. they go from getting as minimum as brand orientation, then deciding draft until it becomes fully integrated to brand orientation. moreover, wong and merrilees (2005) have shown that specialty is a brand’s invalid construct. there is a unique identity that is felt and seen from the products, services, and orientation. they are (1) directing the organization in regards of managing marketing performance for brands, (2) finding the superior performance and obstacles of a product that has a strong brand, (3) identifying barriers such as time, available resources, and knowledge that can potentially inhibit the success of brand activities. furthermore, there is also berthon, ewing, and napoli (2008) who have raised voices about how small business can manage its brand and has positive business performance, compared to small businesses that do not manage the brand well. kim et al. (2014) have found that brands affect consumer loyalty, and proposed that small businesses get the support of the relevant agencies to encourage a positive brand performance. thus, it can be seen that small businesses need to determine brand identity as well as a comparison with other products. the brand is inseparable from copyright. small businesses have future potential to be big business and obtain the doubled net income compared to when it is first established. nevertheless, problems experienced by small business do not necessarily occur in brands that may be subject to claim. as arum (2015) has mentioned in an article about community coffee shop which is better known as kopitiam in hokkien. as adapted from the article, kopitiam is no longer a free copyright brand since there is already an entrepreneur who has registered to trademark its copyright. in addition to the case of kopitiam, there is also a case of the brand maicih, as herdiyan (2011) has mentioned along with many more in the news. this is one of many cases of separating small business partnership because of conflict, and the impact of separating is on the rights of trademarks ownership. that being said, small businesses that already have a place in the hearts of consumers may still need to pay attention to proprietary rights or copyrights. regardless of whether or not that is meant as a brand, there is a relationship between the brand and its copyright. moreover, small businesses that do not have a special section for brand formulation also have their own privileges. for example, when to decide what brand can make consumers feel confident and willing to use the products or services produced by small businesses. it is also experienced by the small business owner who trades bags made from cow-hide and establishes the brand keona. based on those descriptions, this research is fundamentally aimed to explain about the brand in the small business, especially on how small business determines its brand. one of the challenges to reveal the basis of deciding brand products in small business is the thorough reconstruction of the way of thinking. the process of reframing described in the research methods is expected to explore meaningful information. an earlier study conducted by moorthi (2002) has combined the concepts of service marketing mix (product, price, place, promotion, physical evidence, process, and people), or known as 7ps frame of brand identity that is discovered by aaker (1996). he has mentioned the existence of four essential elements in the development of a brand as a product, as the organization brand, as a person, and as a symbol. moorthi (2002) has referred to result from lovelock in 1992, mentioning that brand is a exploration of methods for small businesses …… (irene teresa rebecca; anita maharani) 3 process. thus, the concept of 7ps can be used to explore brands associated with a series of processes owned by a business. long before the concept of 7ps appears, there is a concept of the marketing mix which is first introduced by neil borden to explain the decision taken by the manager in the context of business marketing (kasabov, 2015). then, mccarthy has modified the marketing mix concept which is later best known as 4ps (consisting price, promotion, product, and distribution) (kasabov, 2015). following that, booms and bitner (1981) have also developed 4ps and turn it into 7ps, otherwise known as the service marketing mix. the purpose of this study is to show how small business owners think before they discover and establish keona that is using the concept of 7ps. this concept is considered appropriate because it may be applied to businesses in any condition. moreover, the advantage of using this concept is that it will provide systematic steps that can be done by the small business owner. methods the approach of this research is inductive. sekaran and bougie (2016) have mentioned that this approach is aimed to find the patterns discovered from the interview and the development of concepts. the method used in this approach is qualitative with data acquired from open-ended questions and narrative description as the type of analysis. there will be some questions given to interviewee which are aimed to explore small business owner’s way of thinking in determining the brand keona. the interviewee herself is the owner of leather bag brand keona and her initial is ds. the questioning method is 5w1h, also known as kipling method, which may be useful to explore information by using some questions that address the process or acts in problem-solving. questions for the interview begins with who, what, where, when, and how; these are useful to give detailed understanding. the interviewee will respond to these 5w1h questions built with the 7ps framework (product, people, physical evidence, process, promotion, place, and price). response from the interview will be analyzed by classifying words to meet research expectations. interpretation is associated with the central theme as the goal of this research. information is gathered on 2nd december 2017 with 60-minute long interview, not including the approach before the process of questioning. results and discussions a successful brand must be able to create awareness for consumers to easily associate a product or service provided by a company through its brand. a unique and recognizable brand is the key to the success of any business. keona, according to ds (its owner), is established in 2014 with four business philosophy that covers product being the priority, fast and responsive response to a complaint or consumer, production target that must be fulfilled every day, and lastly, safe and clean work environment. the brand keona is associated with a product that ds produces, which consist of two things; the main product and ancillary products. the main product is the bag that has to pass three steps; (1) paying attention to the development of trend and models from media, (2) conducting simple marketing research by launching picture of mock up product to social media, and (3) creating sale worthy design without replicating other product. on the other hand, the additional products or ds accessories products are manufactured to complement the main products, such as tussle or hanger bags, key chains, and a small wallet. based on the information from interviewees, these additional products use the remains of the main product. 4 journal the winners, vol. 19 no. 1, march 2018: 1-7 the technology used is a special manufacturing machine to make bags. there are four machines used to produce bags; they are leather skiving machine, sewing machine, cone machine, and embossing machine. leather skiving machine is used to dilute ingredients for skin to be thick and has the same type of surface. sewing machine, or collectively the ‘walking foot’ machine, is a machine that is able to sew properly even though the leather used is thick. cone machine is used to sew the skin or very thick sections such as the handle of the bag, pouch bags as well as parts that require very hard or thick stitches. lastly, the machines used to emboss printed brands are put directly on top of the skin. in order to guarantee the quality, samples can be taken from the best quality of leather. this is done through direct checking by business owners from getting basic materials to the final settlement of bag. the packaging used is produced on its own and customized with products aimed at a target market of women aged 18-40 years. based on the results, the brand as associated with a product promises something explicit to the consumers, namely through the form or the form and quality. the next thing to note is brand-related human resources. there are two employees hired to produce the main product and ancillary products, both of which are permanent workers. however, the company will hire temporary workers once there is an increase in demand. the interviewees have mentioned that he and his wife are the ones behind the managerial position, in charge of exploring and planning the purchase of raw materials to guarantee quality upon the completion of the product. based on the results above, it can be concluded that the brand promises personalized service when associated with a person. this is because not many people are involved in the business with the owners working directly to serve the consumer. another thing that the brand is associated with is physical evidence. according to the respondent, there is a workshop owned by him to streamline business processes, and it comes along with parking facilities. thus, customers can know that the business is an active one. in order to support its success, the business also involves a third party who helps the sales of products online. the business owner of keona currently does this directly through the marketplace, tokopedia with the store name of keona genuine leather, which can be accessed via https://www.tokopedia.com/keonaleather. in addition, consumer complaints can be sent to an email address (keona.leather@gmail.com) dedicated to supporting a more business-oriented online service using social media. furthermore, the respondent has also said the presence of the contact center is devoted to sales and customer service with apparent online network access that will not break up, in order to support the communication process. the business also owns transportation to support product delivery directly from the workshop to the consumer after getting orders and signs of booking form of money transfer from the consumer. however, even if you have your own transport, cooperation with several providers of shipping services are still maintained with the goal of following consumer demand. based on the results, the brand promises reliability such as after-sales service, when associated with the physical evidence. aside from those, the brand is also associated with the manufacturing process, during which the production layout is tailored to function. the sewing machine is specially placed in one room, while the skiving and cone machines are placed on the other. the workflow required in producing a product begins with the first step, i.e., the selection of the mode or type of product to be made. after that, the employees will create the pattern using the mold and cut off the leather. when the pattern is done, the production process will begin, starting from skiving materials, tailoring, printing, finishing, placing brand, and finally the packaging. the flow of bag or product sales is divided into two types; direct sales and through the marketplace. in the direct sales, the consumer comes directly to the workshop, selects, and pays for the product directly to the respondent who is also in charge of the cash register. furthermore, the products are sold according to the order regardless of the type of sales, in other words, there is no stock of products. in fact, consumers are required to pay a down payment of 50% of the price of the goods prior to the production and pay it off, along with the transportation fee, when the goods arrive at the exploration of methods for small businesses …… (irene teresa rebecca; anita maharani) 5 consumers’ place. according to the interviewees, this is deemed effective in avoiding fraudulent booking, and if any of the products ordered is void, the cash advance is not paid back. if the ordered product reaches the stage of completion, but the consumer fails to finalize the payment, then the product put on sale in the marketplace. based on the results above, there is a gradual process for business owners when associated with the process which starts from drafting ideas until delivering product to consumers. consumers are involved and have ownership of the booking since they have paid a deposit. the brand is associated with the promotion (promotion). according to the interviewees, there are some mechanisms that special for promotion; special discount day, special discount during the holiday season, special exhibition discount, and bonus products on consumers who buy products in the certain amount or value. moreover, the platforms used to support the promotion are; social media such as facebook and instagram; marketplace such as bukalapak, tokopedia, and lazada; endorsement with campaign to give souvenir to consumers such as uploading a photo and displaying products in social media while mentioning ‘hashtag’ of products and souvenirs; prize to be awarded to consumers who purchase three or more products simultaneously, or for consumers who accumulatively do transaction worth rp5,000,000.00 (applies in multiple purchases). promotion method is chosen by the respondent based on the behavior of competitors. although keona products’ competing products are produced by small businesses, the respondent still considers their products to be on par with high-end brands, namely, fossil, gobellini, braun buffer, and others in terms of quality and not price. as a conclusion when associated with the promotion, the mechanism of communication is done for the promotion through social media or online network in the marketplace. the brand is associated with a place (place). according to interviewees, the places chosen to sell the products of keona are the online network, multiple channels (multi-channel), and direct sales. the online network is done through the marketplace, direct sales through word of mouth, and multiple channels through the exhibition at various levels. in conclusion, they use both the traditional model, i.e., direct sales, and the conventional model through the online network and multiple channels. the selected channels simplify consumers’ process to achieve products that are offered. the brand is associated with the price (price). according to interviewees, the price is determined by taking the margin of production costs and doing pin guessing with a competitor that has the same product category. in addition, the price set is in the middle price and upward standard because the segment of product and target product is active and women aged 18-40 years. based on the results above, it can be concluded that the brand promises quality that corresponds with the price. findings show how a product from the small business can deliver its value through its brand. the method used here is quite familiar and even easy to replicate by other small businesses as it starts with the product, people, physical evidence, process, promotion, place, and price. that being said, the small business might still need further knowledge and sources on finding friendly business method. conclusions the purpose of this research is to reframe small business owners’ way of thinking and determining the brand through the concept of 7ps. keona’s brand concept as seen from 7ps are as follows (1) an explicit promise to consumers through its product and quality. (2) personalized service promise from the owner directly to consumers. (3) reliability promise, e.g., the after-sales service. (4) the promise of gradual process and involvement in the intervention of the owners, and even consumers, on the bag. (5) the promise of promotion through online networks, either social media or marketplace. (6) promise to consumers of easily reachable products, offered with direct sales model as 6 journal the winners, vol. 19 no. 1, march 2018: 1-7 well as conventional sales models such as multiple channels and online network. (7) the promise of quality that corresponds to the price. this research describes how small business determines its brand through the concept of the marketing mix, 7ps. the managerial implications of this research are (1) implementation a quality assurance program as an effort to ensure improved quality of service. (2) undertakings in order to personalize the services already provided by the business owner, referring to a standard operational procedure which will also have an impact on the context of after-sales service. (3) undertakings to utilize features that enable optimization of social media use as a means of marketing. (4) in addition to the product line, it is necessary to bring up the product to any levels to reach wider market segments. references aaker, d. a. (1996). building strong brands. new york: free press. american marketing association. (1995). dictionary. retrieved on november 2nd, 2017 from http://www.marketingpower.com/_layouts/dictionary.aspx?dletter=p. arum, n. s. (2015). ini pentingnya merek dagang bagi pelaku usaha. retrieved on november 3rd, 2017 from http://entrepreneur.bisnis.com/read/20150616/88/443827/javascript. berthon, p., ewing, m. t., & napoli, j. (2008). brand management in small to medium-sized enterprises. journal of small business management, 46(1), 27–45. https://doi.org/10.1111/j.1540-627x.2007.00229.x. booms, b., & bitner, m. j. (1981). marketing strategies and organizational structures for service firms. in james h. donnelly and william r. george (eds.), marketing of services (pp.47-51). chicago: american marketing association. bosari, j. (2012). how important is small business branding really. retrieved on november 1st, 2017 from https://www.forbes.com/sites/moneywisewomen/2012/02/21/how-important-is-smallbusiness-branding-really/#3f96a7ba5e6b. forbes. (2017). the world’s most valuable brands. retrieved on november 2nd, 2017 from https://www.forbes.com/powerful-brands/list/. herdiyan. (2011). demi bisnis maicih, keluarga pun pecah? retrieved on november 1st, 2017 from http://bandung.bisnis.com/read/20110713/3/66233/demi-bisnis-maicih-keluarga-pun-pecah. kasabov, e. (2015). marketing mix. new jersey, us: john wiley & sons. kotler, p. t., & keller, k. l. (2016). marketing management (15th ed.). us: pearson higher ed. kim, k. p., kim, y. o., lee, m. k., & youn, m. k. (2014). the effects of co-brand marketing mix strategies on customer satisfaction, trust, and loyalty for medium and small traders and manufacturers. e&m economics and management, 17(1), 140–151. http://dx.doi.org/10.15240/tul/001/2014-1-011. moorthi, y. l. r. (2002). an approach to branding services. journal of services marketing, 16(3), 259–274. https://doi.org/10.1108/08876040210427236. http://www.marketingpower.com/_layouts/dictionary.aspx?dletter=p http://entrepreneur.bisnis.com/read/20150616/88/443827/javascript https://doi.org/10.1111/j.1540-627x.2007.00229.x https://www.toolshero.com/toolsheroes/mary-jo-bitner/ https://www.ama.org/ https://www.forbes.com/sites/moneywisewomen/2012/02/21/how-important-is-small-business-branding-really/#3f96a7ba5e6b https://www.forbes.com/sites/moneywisewomen/2012/02/21/how-important-is-small-business-branding-really/#3f96a7ba5e6b https://www.forbes.com/powerful-brands/list/ http://bandung.bisnis.com/read/20110713/3/66233/demi-bisnis-maicih-keluarga-pun-pecah http://dx.doi.org/10.15240/tul/001/2014-1-011 https://doi.org/10.1108/08876040210427236 exploration of methods for small businesses …… (irene teresa rebecca; anita maharani) 7 sekaran, u., & bougie, r. (2016). research methods for business: a skill building approach (7th ed.). us: john wiley & sons. stoltz, b. (2017, 14 sept). branding for small business made simple. retrieved on november 1st, 2017 from https://www.forbes.com/sites/allbusiness/2017/09/14/branding-for-small-businessesmade-simple/#828dc8141073. wong, h. y., & merrilees, b. (2005). a brand orientation typology for smes: a case research approach. journal of product & brand management, 14(3), 155–162. https://doi.org/10.1108/10610420510601021. https://www.forbes.com/sites/allbusiness/2017/09/14/branding-for-small-businesses-made-simple/#828dc8141073 https://www.forbes.com/sites/allbusiness/2017/09/14/branding-for-small-businesses-made-simple/#828dc8141073 microsoft word 07_idi s._tenaga kerja indonesia.doc suatu tinjauan tentang tenaga kerja... (idi setyo utomo) 83 suatu tinjauan tentang tenaga kerja buruh di indonesia idi setyoutomo1 abstract article discusses problems faced by the labor in indonesia. to make a good relationship between companys’ owner and labor, there will be an active and positive role of bipartit department in the company. in order to make an indutrial relationship is in harmony in the future, it is suggested that every problem in the company should be solved by the bipartit department with “win-win solution”. keywords: work force, labor abstrak artikel membahas permasalahan yang dihadapi oleh para pekerja/buruh di indonesia. untuk menjalin adanya hubungan yang harmonis antara unsur pengusaha dan unsur pekerja/buruh, diharapkan peranan aktif dan positif dari lembaga kerja sama bipartit yang berada di perusahaan. agar perjalanan ke depan bagi terjalinnya hubungan industrial yang harmonis ini dapat terwujud secara berkelanjutan, disarankan setiap pemasalahan yang muncul di perusahaan dapat diselesaikan oleh lembaga bipartit dengan pemahaman yang sama terhadap bagaimana memecahkan masalah didasarkan pada “win-win solution”. kata kunci: tenaga kerja, buruh 1 staf pengajar fakultas ekonomi, ubinus, jakarta journal the winners, vol. 6 no. 1, maret 2005: 83-93 84 pendahuluan beberapa bulan di sepanjang tahun 2004 ini, hampir setiap hari kita membaca dan menyaksikan pemberitaan di media massa, baik cetak maupun elektronik, mengenai ratusan bahkan ribuan tenaga kerja (buruh) yang berunjuk rasa di sejumlah instansi, antara lain di depan istana negara, di gedung dewan perwakilan rakyat, sampai di departemen tenaga kerja dan transmigrasi jalan gatot subroto, jakarta. apa yang mereka inginkan sehingga rela mengorbankan waktu, tenaga, dan bahkan biaya yang tidak sedikit dalam kegiatan ini, pada umumnya berkisar masalah hak normatif dan masalah pemutusan hubungan kerja (phk). berita mengenai buruh yang berunjuk rasa karena menuntut permasalahan mereka diselesaikan secara adil adalah sah-sah saja sepanjang dilakukan menurut peraturan perundangan yang berlaku. tuntutan mengenai hak normatif yang mereka ajukan, misalnya di kota tangerang diberitakan bahwa karyawan pt cosmos di bayar di bawah upah minimum (kompas, 23 oktober 2001). di semarang, ribuan buruh turun ke jalan menuntut upah minimum regional (umr) tahun 2002 yang hanya sebesar rp350.000,00 per bulan (kompas, 3 oktober 2002). tuntutan rekan buruh mengenai phk, misalnya 527 buruh pabrik di bagian pemintalan gabungan koperasi batik indonesia (gkbi) yang pabriknya terbakar pada 7 desember 2002 berunjuk rasa karena tidak menerima phk yang dilakukan pihak perusahaan yang menurut mereka tidak memenuhi syarat (sinar harapan, 3 januari 2003). apalagi phk yang melibatkan ratusan buruh tersebut hanya disetujui oleh kepala sub dinas tenaga kerja kabupaten sleman yang bukan menjadi wewenangnya. bahkan, peristiwa yang sangat menyedihkan pun terjadi saat penulis menyaksikan sendiri ketika sejumlah karyawan pt dirgantara indonesia melakukan demo ke kantor departemen tenaga kerja dan transmigrasi di jalan gatot subroto, jakarta pada selasa 21 september 2004 sekitar pukul 13.30 wib. mereka melakukan demo setelah gugatan mereka atas putusan panitia penyelesaian perselisihan perburuhan pusat (p4p) mengenai phk terhadap karyawan pt dirgantara indonesia ditolak oleh pengadilan tinggi tata usaha negara di jakarta beberapa jam sebelumnya pada hari yang sama. banyaknya pemberitaan di media massa maupun munculnya aksi demo mengenai masalah tenaga kerja atau perburuhan tersebut menunjukkan bahwa masalah ketenagakerjaan atau perburuhan adalah suatu kenyataan yang telah menjadi bagian dari kehidupan bangsa indonesia. terlebih ketika krisis multidimensi ini belum dapat diatasi secara tuntas maka masalah ketenagakerjaan/perburuhan akan selalu muncul setiap saat dan hal tersebut memerlukan penanganan yang penuh arif bijaksana. rekan pekerja atau buruh tersebut, baik secara langsung maupun tidak langsung, telah ikut ambil bagian terhadap keberhasilan kinerja perusahaan mereka dalam meraih laba pada masa sebelum munculnya permasalahan. pada masa resesi ini, kemampuan atau daya beli masyarakat memang mengalami penurunan sehingga banyak perusahaan yang mengalami kesulitan keuangan yang berakibat pada penurunan pendapatan yang pada akhirnya mengarah kepada kerugian perusahaan dan bagi perusahaan yang mengalami hal tersebut dapat suatu tinjauan tentang tenaga kerja... (idi setyo utomo) 85 melakukan phk terhadap pekerja/buruh. menurut undang-undang, perusahaan memang dapat melakukan phk terhadap pekerja/buruh karena perusahaan tutup yang disebabkan perusahaan mengalami kerugian secara terus menerus selama dua tahun atau keadaan memaksa (force majeur). selanjutnya, menurut ketentuan pasal 164 ayat 2 undangundang no. 13 tahun 2003, perusahaan yang menderita kerugian diwajibkan membuktikan dengan laporan keuangan secara dua tahun terakhir yang diaudit oleh akuntan publik. pembahasan gambaran umum perburuhan sebenarnya kita sudah sering mendengar kata buruh ini sejak lama. di seluruh dunia bahkan di indonesia, setiap awal mei pada setiap tahun adalah merupakan bulan yang ada kaitannya dengan buruh. hal itu dapat dipahami sebagaimana diberitakan oleh kompas edisi 1 mei 2003 sebagai berikut: “ribuan buruh berunjuk rasa di jakarta dan berbagai daerah di indonesia memperingati hari buruh sedunia (mayday)”. tidak diketahui secara pasti dari mana kata buruh itu berawal. akan tetapi, menurut seorang sosiolog yang mengupas mengenai konflik sosial, dikatakan bahwa kata buruh berasal dari bahasa lisan petani jawa yang kemudian diidentifikasikan dengan konsep proletariat yang menunjukkan pada suatu hubungan konfliktual antara pekerja dan majikan dengan penekanan pada ide perjuangan kelas (susetiawan, 2000). buruh, menurut undang-undang no. 22 tahun 1957 tentang penyelesaian perselisihan perburuhan, pasal 1 ayat a ditulis sebagai berikut: “buruh ialah barang siapa bekerja pada majikan dengan menerima upah”. menurut undang-undang no. 13 tahun 2003 tentang ketenagakerjaan, buruh disamakan dengan pekerja. hal itu dapat dibaca seperti tertulis pada pasal 1 ayat 3 yang berbunyi: “pekerja/buruh adalah setiap orang yang bekerja dengan menerima upah atau imbalan dalam bentuk lain”. istilah buruh di dalam kamus besar bahasa indonesia (kbbi) adalah orang yang bekerja untuk orang lain dengan mendapat upah atau sama dengan pekerja. mengenai buruh itu di dalam kbbi lebih lanjut dibedakan adanya tiga klasifikasi buruh, yaitu pertama buruh kasar yang berarti buruh yang menggunakan tenaga fisiknya karena tidak mempunyai keahlian di bidang tertentu. kedua buruh terampil, yaitu buruh yang mempunyai keterampilan di bidang tertentu, dan ketiga buruh terlatih, yaitu buruh yang sudah dilatih untuk keterampilan tertentu. kata pekerja sendiri dalam kbbi tersebut memiliki dua pengertian. pengertian pertama adalah orang yang bekerja dan yang kedua orang yang menerima upah atas hasil kerjanya; buruh; karyawan. berangkat dari definisi mengenai buruh tersebut maka setiap orang yang bekerja kepada orang lain dan mendapat upah juga termasuk kelompok pekerja atau buruh. namun, dalam kenyataan kehidupan sehari-hari, kata buruh sering diidentikkan dengan journal the winners, vol. 6 no. 1, maret 2005: 83-93 86 mereka yang bekerja di bagian lapangan dalam suatu industri pertanian, industri perkebunan, suatu perusahaan manufaktur, atau pabrik dengan klasifikasi yang pertama dalam kbbi, yaitu buruh kasar. hal itu mengakibatkan buruh sering diberi penekanan “rendah” dibanding pekerja. banyak orang yang tidak bersedia atau tidak mau mengidentifikasikan dirinya sebagai buruh, meskipun dalam beberapa definisi tersebut mereka termasuk dalam kategori buruh. mereka lebih senang menyebut diri mereka sebagai pekerja atau karyawan/karyawati. bagi orang-orang tertentu, istilah buruh identik dengan orang rendahan, orang miskin, lemah tidak berdaya, tidak berpendidikan, kasar, kotor, dan berbagai sebutan lain yang amat merendahkan. kondisi buruh seperti itulah sehingga di beberapa perusahaan, kelompok itu sempat mengalami pengalaman yang sangat menyedihkan. misalnya, kaum wanita sering mengalami pelecehan seksual, bahkan ada yang “dieksploitasi” sehingga berakibat munculnya demo, seperti dikemukakan dalam awal tulisan ini. hal itu berbeda dengan istilah karyawan/karyawati yang dirasakan lebih halus maknanya. sebenarnya, jika menghayati definisi yang dikemukakan oleh undang-undang no.13 tahun 2003, dalam hal ini pemerintah dan dewan perwakilan rakyat sudah mencoba untuk mengangkat citra positif dari kata buruh ini dengan menyebutkan: “pekerja/buruh adalah setiap orang yang bekerja dengan menerima upah atau imbalan dalam bentuk lain”. artinya, buruh itu juga dianggap sebagai pekerja, suatu definisi yang diambil maknanya dari kbbi. oleh karena itu, akibat dari adanya pembedaan makna itu, maka mereka yang sama-sama menerima upah atau digaji atau menerima imbalan dalam bentuk lain merasa bukan berada dalam golongan yang sama (buruh), hanya karena tempat atau lokasi pekerjaan mereka berbeda. terlebih bagi mereka yang bekerja di dalam ruangan kantor yang sejuk dan nyaman menggunakan jas dan berdasi serta digaji tinggi dan memperoleh berbagai fasilitas yang “wah”, akan menganggap diri mereka bukan buruh, tetapi karyawan/karyawati. buruh dari waktu ke waktu pada zaman penjajahan (kolonial), khususnya yang dilakukan oleh belanda, keberadaan golongan orang dengan sebutan buruh tidak begitu menonjol. pada masa itu, adanya sistem feodalisme mengakibatkan munculnya perbedaan kelas yang pada akhirnya terdapat golongan orang kelas bawah, seperti budak atau kuli yang bekerja pada orangorang yang memiliki kelas lebih tinggi atau para bangsawan. berdasarkan fakta sejarah, pada waktu sebelum masa penjajahan datang dan selama masa penjajahan itu sendiri, di indonesia telah terdapat berbagai macam kerajaan yang tersebar di wilayah nusantara. tiap daerah kerajaan memiliki sejarahnya sendiri-sendiri dan sudah barang tentu juga memiliki sistem politik dan susunan masyarakat yang berbeda. namun, di antara perbedaan tersebut ternyata ada suatu ciri khusus yang tidak jauh berbeda di antara kerajaan satu dan kerajaan lainnya. ciri khusus tersebut adalah adanya kharisma dan otoritas raja terhadap rakyatnya, serta rakyat yang mengabdi kepada raja dan raja yang memberikan perlindungan kepada rakyatnya. para raja atau bangsawan tersebut pada umumnya memiliki dominasi terhadap tanah dalam jumlah yang cukup luas. suatu tinjauan tentang tenaga kerja... (idi setyo utomo) 87 pada saat itu, tanah dikuasai secara timpang dan tanah menjadi basis bagi penguasaan politik. sebagai akibatnya, dari penguasaan tanah yang merupakan sumber daya produksi tersebut, bagi mereka yang tidak memiliki tanah akan mengalami tekanan dan eksploitasi yang merendahkan martabat kemanusiaannya melalui pekerjaan sebagai penggarap tanah atau menjadi budak dari tuan tanah. dari sinilah kelas buruh tani itu muncul karena mereka harus bekerja untuk mendapatkan upah dari tuan mereka demi mempertahankan kehidupan mereka dan keluarganya. dengan bekerja pada orang lain, berarti buruh itu memberikan dirinya diperbudak oleh orang lain atau orang yang memiliki sumber daya. mengenai kondisi buruh itu, jan breman mengemukakan bahwa akibatnya mereka sering kali dipandang rendah, tidak berharkat dibanding orang merdeka. meskipun mereka mengambil bagian dalam proses produksi dalam suatu industri, namun tetap saja cara mereka dipekerjakan tak ubah layaknya orang yang tidak memiliki harga diri (breman, 1977). dalam perjalanan sejarah, setelah bangsa indonesia memperoleh kemerdekaan di tahun 1945 sampai pada masa orde lama, kondisi dunia kerja (kaum buruh) tidak menunjukkan ke arah yang lebih baik dibanding pada masa sebelum kemerdekaan (kolonial). buruh yang bekerja di sektor pertanian, sektor manufaktur skala kecil, dan menengah, seperti industri rokok dan tekstil memiliki standar upah yang sangat kecil disertai kondisi kerja yang sangat buruk. demikian juga di era orde baru dan di zaman reformasi sekali pun, kondisi buruh itu sangat memprihatinkan, yaitu standar upah yang jauh memenuhi kebutuhan (sangat minim), kondisi kerja yang buruk, serta jaminan keamanan kerja yang tidak menentu. dalam hal ini berarti hak normatif buruh atau pekerja yang mestinya mereka terima secara wajar sebagai hak dasar mereka, masih banyak yang diabaikan oleh para pengusaha. tidak mengherankan apabila banyak tuntutan yang diajukan oleh para buruh ini agar para pengusaha memenuhi hak mendasar mereka dalam bentuk demo, seperti disajikan di awal artikel ini. sebagai gambaran mengenai minimnya penghasilan bagi buruh itu, kompas edisi kamis, 4 nopember 2004 pada halaman 13 menulis dengan judul sangat besar: “disesalkan, ump dki di bawah khm”. kalau kita baca isi berita tersebut yang dimaksud dengan ump adalah upah minimum provinsi dan dki adalah kepanjangan dari daerah khusus ibukota. khm adalah kepanjangan dari kebutuhan hidup minimum. dengan demikian, isi judul berita tersebut adalah bahwa penetapan pemerintah propinsi dki jakarta mengenai ump tahun 2005 sebesar rp711.000,00 per bulan bagi tenaga kerja/buruh di propinsi dki jakarta, masih jauh berbeda dengan khm yang besarnya rp873.945,00 per bulan. walaupun penetapan ump dki jakarta tahun 2005 tersebut sudah lebih tinggi dibanding ump dki jakarta tahun sebelumnya yang hanya sebesar rp671.550,45 per bulan, tetap saja banyak pihak yang mengutarakan penyesalannya. pihak yang menyesalkan penetapan ump dki jakarta tahun 2005 tersebut, antara lain maringan pangaribuan, wakil ketua dprd dki jakarta (fraksi partai demokrasi indonesia perjuangan) dan ilal ferhard (fraksi partai demokrat). sebagaimana diatur oleh undang-undang maka pada setiap akhir tahun, masing-masing kepala daerah propinsi di seluruh indonesia menetapkan upah minimum propinsi bagi tenaga journal the winners, vol. 6 no. 1, maret 2005: 83-93 88 kerja/buruh yang berlaku di wilayah propinsi yang bersangkutan. berdasarkan pengalaman selama ini, penetapan ump di setiap propinsi selalu mendapat tentangan, terutama dari para pekerja/buruh. dalam hal ini, pihak pekerja/buruh selalu berada pada sisi yang lemah karena kenyataannya ump yang mereka terima masih jauh berada di bawah khm dan dalam praktiknya banyak pengusaha yang membayarkan upah pekerja/buruh mereka di bawah ump dengan alasan perusahaan tidak mampu membayar sesuai ump. sebenarnya, untuk melindungi nasib buruh atau pekerja ini, pemerintah bersama dewan perwakilan rakyat telah membuat perangkat berupa undang-undang yang telah ditindaklanjuti dengan berbagai peraturan pelaksanaannya, seperti keputusan menteri yang membawahi bidang ketenagakerjaan. peraturan perundangan tersebut, misalnya undang-undang no. 22 tahun 1957 tentang penyelesaian perselisihan perburuhan, undang-undang no. 12 tahun 1964 tentang pemutusan hubungan kerja di perusahaan swasta; dan keputusan menteri tenaga kerja no. 150/men/2000 tentang penyelesaian pemutusan hubungan kerja dan penetapan uang pesangon, uang penghargaan masa kerja, dan ganti kerugian, dan masih banyak peraturan lagi. bahkan, peraturan perundangan terakhir yang dikeluarkan pemerintah bersama dewan perwakilan rakyat adalah dibuatnya undang-undang no. 13 tahun 2003 tentang ketenagakerjaan dan undang-undang no. 2 tahun 2004 tentang penyelesaian perselisihan hubungan industrial. hanya masalahnya, menurut kacamata buruh/pekerja, berbagai peraturan tersebut masih belum berpihak kepada buruh atau pekerja. seperti, undang-undang no. 13 tahun 2003, kelahirannya yang banyak mendapat tentangan dari kaum buruh/pekerja dan sejumlah lembaga swadaya masyarakat sampai saat ini pun masih dianggap belum berpihak kepada tenaga kerja/buruh. panitia penyelesaian perselisihan perburuhan pusat (p4p) walaupun perangkat di bidang ketenagakerjaan sudah cukup banyak, bukan berarti bahwa perselisihan antara buruh dan majikan atau pengusaha tidak akan timbul. perselisihan perburuhan ialah pertentangan antara majikan atau perkumpulan majikan dengan serikat buruh atau gabungan serikat buruh berhubung dengan tidak adanya persesuaian paham mengenai hubungan kerja, syarat kerja dan/atau keadaan perburuhan (undang-undang no. 22 tahun 1957). apabila muncul perselisihan perburuhan maka pekerja/buruh atau serikat pekerja/serikat buruh dan majikan diharapkan mencari penyelesaian secara damai dengan jalan perundingan. dalam hal ini, diupayakan agar penyelesaian masalah tersebut dilakukan secara perundingan melalui lembaga kerja sama bipartit, yaitu suatu lembaga yang berfungsi sebagai forum komunikasi dan konsultasi mengenai hal ketenagakerjaan di perusahaan. lembaga bipartit itu susunan keanggotaanya terdiri atas unsur pengusaha dan unsur pekerja/buruh yang ditunjuk oleh pekerja/buruh secara demokratis untuk mewakili kepentingan pekerja/buruh di perusahaan yang bersangkutan. proses penyelesaian perselisihan perburuhan ini dapat berlangsung cepat atau sebaliknya bahkan dapat suatu tinjauan tentang tenaga kerja... (idi setyo utomo) 89 memakan waktu lama, apabila masing-masing pihak tidak dapat menerima kesepakatan. jika perundingan yang dimaksudkan tidak mencapai kesepakatan maka masalah tersebut akan diajukan kepada pegawai perantara dari dinas tenaga kerja tingkat kabupaten atau kota yang berada di lokasi perusahaan tersebut melakukan usaha. dalam perundingan tersebut, pegawai perantara akan mengeluarkan anjuran kepada para pihak yang berselisih. apabila salah satu pihak menolak anjuran pegawai perantara maka masalah tersebut akan diajukan ke panitia penyelesaian perselisihan perburuhan daerah (p4d) untuk disidangkan dan diputuskan. p4d itu dibentuk oleh menteri yang membidangi ketenagakerjaan yang berkedudukan di ibukota propinsi di seluruh indonesia. menurut ketentuan, keanggotaan p4d itu terdiri atas seorang wakil kementerian perburuhan sebagai ketua merangkap anggota dan anggota lainnya terdiri atas seorang wakil kementerian perindustrian, seorang wakil kementerian keuangan, seorang wakil kementerian pertanian, serta seorang wakil kementerian perhubungan atau kementerian pelayaran, 5 orang dari kalangan majikan dan 5 orang wakil dari serikat pekerja/serikat buruh. untuk tiap anggota, ditunjuk seorang anggota pengganti. apabila dalam penyelesaian di p4d ada salah satu pihak yang merasa keberatan atas keputusan yang dikeluarkan oleh p4d maka kepada pihak yang bersangkutan diberikan kesempatan untuk mengajukan banding kepada panitia penyelesaian perselisihan perburuhan pusat (p4p). p4p itu dibentuk berdasarkan keputusan presiden ri dan keanggotaannya terdiri atas seorang wakil kementerian perburuhan sebagai ketua merangkap anggota, dan seorang wakil kementerian perindustrian, seorang wakil kementerian keuangan, seorang wakil kementerian pertanian, seorang wakil kementerian perhubungan atau kementerian palayaran, 5 (lima) orang dari kalangan pekerja/buruh dan 5 (lima) orang dari kalangan majikan. seperti halnya keanggotan p4d, maka tiap anggota p4p ditunjuk seorang anggota pengganti. berdasarkan undang-undang no.22 tahun 1957, p4p itu berkedudukan di jakarta. kasus yang berkaitan dengan tenaga kerja atau buruh yang disampaikan dan diproses di p4p itu mengenai dua hal, yaitu yang pertama masalah perselisihan hubungan industrial (phi) (yang menyangkut hak normatif) dan yang kedua adalah masalah pemutusan hubungan kerja (phk). berikut ini disajikan perkembangan penyelesaian perkara phi dan phk oleh p4p pada periode 1998 sampai dengan 29 februari 2004, seperti pada tabel 1. tabel 1 perkembangan penyelesaian perkara phi dan phk oleh p4 pusat periode 1998 sampai dengan 29 februari 2004 no tahun perkara yang masuk phi phk perkara yang diputus phi phk tk digugat ke pengadilan tinggi tun oleh: pekerja pengusaha persentas (%) gugatan 1 2 3 4 5 6 7 8 9 10 1 1998 25 2.172 22 2.034 128.059 27 93 5,83 2 1999 65 2.386 59 2.207 107.815 48 144 8,47 3 2000 82 2.124 79 2.015 75.088 61 173 11,17 journal the winners, vol. 6 no. 1, maret 2005: 83-93 90 tabel 1 perkembangan penyelesaian perkara phi dan phk oleh p4 pusat periode 1998 sampai dengan 29 februari 2004 (lanjutan) 4 2001 98 2.312 84 1.994 79.984 68 199 12,85 5 2002 115 2.663 91 2.080 98.575 81 212 13,50 6 2003 130 2.977 110 2.460 128.739 79 159 9,26 7 2004 32 925 14 233 18.928 10 51 24,69 sumber: panitia penyelesaian perselisihan perburuhan pusat (p4p). keterangan: p4 pusat = panitia penyelesaian perselisihan perburuhan pusat phi = penyelesaian hubungan industrial phk = pemutusan hubungan kerja tun = tata usaha negara tk = tenaga kerja yang mengalami phk dari tabel tersebut dapat dibaca bahwa kasus phi yang masuk ke p4p ada kecenderungan selalu meningkat dari tahun ke tahun, yaitu masing-masing tahun 1998: 25 kasus, tahun 1999: 65 kasus, tahun 2000: 82 kasus, tahun 2001: 98 kasus, tahun 2002: 115 kasus, dan tahun 2003: 130 kasus. paling banyak terjadi adalah pada tahun 2003 dengan 130 kasus dan yang telah diputus oleh p4p sebanyak 110 kasus. data perkembangan penyelesaian perkara phi pada tahun 2004 yang berhasil dihimpun baru sampai bulan februari dengan kasus phi sebanyak 32 kasus dan yang telah diputus p4p sebanyak 14 kasus. mengenai masalah phk juga sangat memprihatinkan karena dari tahun 1998, kasusnya yang masuk ke p4p kecenderungannya selalu meningkat, yaitu tahun 1988 sebanyak 2.172 kasus, tahun 1999 sebanyak 2.386 kasus, tahun 2000 sebanyak 2.124 kasus, tahun 2001 sebanyak 2.312 kasus, tahun 2002 sebanyak 2.663 kasus dan tahun 2003 sebanyak 2.977 kasus. pada tahun 2003 dari kasus phk yang masuk ke p4p sebanyak 2.977 kasus, dan telah diputuskan oleh p4p sebanyak 2.460 kasus dengan pihak tenaga kerja/buruh yang mengalami phk sebanyak 128.739 pekerja/buruh. pada tahun 2004 sampai dengan bulan februari masalah phk yang masuk ke p4p sebanyak 925 kasus, dan yang telah diputus sebanyak 233 kasus dengan tenaga kerja yang mengalami phk sebanyak 18.928 pekerja/buruh. selain menyidangkan kasus gugatan dari para pihak yang menolak keputusan p4d, p4p juga menyidangkan kasus phk massal atau yang melibatkan tenaga kerja/buruh dengan jumlah lebih dari 10 (sepuluh) orang. dari kasus phi dan phk yang ditangani oleh p4p tersebut, baik pihak pekerja/buruh maupun pihak pengusaha, selalu ada yang tidak puas dengan keputusan p4p sehingga mereka akan mengajukan gugatan ke pengadilan tinggi tata usaha negara. dari data tersebut, persentase gugatan yang diajukan terhadap keputusan p4p ke pengadilan tinggi tata usaha negara pada periode 1998 sampai dengan 2004, baik oleh pihak pekerja/buruh dan pihak pengusaha, suatu tinjauan tentang tenaga kerja... (idi setyo utomo) 91 kecenderungannya terlihat semakin naik dari tahun ke tahun. pada tahun 1998 gugatan tersebut sebesar 5,83%, tahun 1999 sebesar 8,47%, tahun 2000 sebesar 11,17%, tahun 2001 sebesar 12,85%, dan tahun 2002 sebesar 13,50%. hanya pada tahun 2003 gugatan kedua pihak sedikit menurun, yaitu hanya 9,26%. kalau diperhatikan masing-masing gugatan maka terlihat bahwa gugatan terhadap keputusan p4p didominasi oleh pihak pengusaha dan yang tertinggi adalah pada tahun 2002, yaitu sebanyak 212 pengusaha yang mengajukan gugatan ke pengadilan tinggi tata usaha negara. walaupun pada tahun 2004 gugatan kedua pihak terlihat cukup tinggi, yaitu sebesar 24,69%, namun hal tersebut belum dapat menggambarkan kasusnya untuk sepanjang tahun 2004 karena data yang diperoleh baru sampai pada bulan februari saja. mengingat banyaknya kasus, baik mengenai phi maupun mengenai phk tersebut, muncul adanya keinginan dari kelompok pekerja atau buruh untuk mengadakan upaya konkrit mengamandemen sebagian pasal dari undang-undang no. 13 tahun 2003 yang menurut mereka sangat tidak berpihak kepada pekerja/buruh. pada saat berdialog dengan sebagian pemimpin serikat pekerja/serikat buruh yang tergabung dalam komite nasional gerakan pekerja buruh indonesia (komnas gpbi), kamis 16 september 2004, presiden megawati soekarnoputri menyetujui keinginan tersebut, yaitu untuk melakukan amandemen terhadap sejumlah pasal dalam undang-undang no. 13 tahun 2003 tentang ketenagakerjaan (kompas, 17 september 2004). amandemen undangundang itu disetujui karena ada sejumlah pasal yang dinilai masih kurang memberikan perlindungan bagi tenaga kerja/buruh. hal yang menarik disini adalah amandemen terhadap undang-undang no.13 tahun 2003 tidak hanya diinginkan oleh para pekerja atau buruh tetapi juga diinginkan oleh para pengusaha di indonesia. harapan pengusaha, dengan dilakukannya amandemen terhadap undang-undang no.13 tahun 2003 tersebut adalah dalam rangka upaya meningkatkan investasi dan menyerap tenaga kerja. hal tersebut dikemukakan oleh djimanto, sekretaris jenderal dewan pimpinan nasional asosiasi pengusaha indonesia (apindo). dengan tegas djimanto mengatakan bahwa pemerintah memang harus merevisi undang-undang ketenagakerjaan. selanjutnya, djimanto mengatakan jika pemerintah mengedepankan investasi untuk menyerap tenaga kerja, pasal yang harus direvisi adalah bab xii pasal 150 sampai pasal 172 tentang pemutusan hubungan kerja, dan sejumlah pasal lainnya (kompas, 17 september 2004). dalam hal ini, gayung telah bersambut, di satu pihak para pekerja atau buruh menginginkan adanya amandemen terhadap undang-undang no.13 tahun 2003, di pihak lain, apindo pun menginginkan hal serupa meskipun penekanan revisi atau amandemen terhadap pasalnya mungkin saja berbeda, sesuai kepentingan masing-masing. sebenarnya, dalam upaya terwujudnya hubungan yang serasi antara pihak pekerja/buruh dan pengusaha serta dengan pemerintah, telah diamanatkan oleh undang-undang agar tercipta suatu hubungan yang harmonis dengan istilah hubungan industrial diantara pelaku proses produksi di indonesia. hubungan industrial sebagaimana dikemukakan dalam undangundang no.13 tahun 2003 adalah suatu sistem hubungan yang terbentuk antara pelaku dalam proses produksi barang dan/atau jasa yang terdiri atas unsur pengusaha, journal the winners, vol. 6 no. 1, maret 2005: 83-93 92 pekerja/buruh, dan pemerintah yang didasarkan pada nilai pancasila dan undang-undang dasar negara republik indonesia tahun 1945. penutup simpulan semua pihak tentu ikut merasa prihatin dengan munculnya permasalahan yang dihadapi oleh para pekerja/buruh ini dan kita semua mengharapkan agar munculnya aksi demo oleh pekerja/buruh di masa depan dapat semakin berkurang. berdasarkan pengalaman selama ini, kegiatan aksi demo selalu berakibat kontra produktif bagi siapa saja, baik bagi buruh itu sendiri, pengusaha, maupun bagi instansi pemerintah. untuk menjalin adanya hubungan yang harmonis antara unsur pengusaha dan unsur pekerja/buruh, diharapkan peranan aktif dan positif dari lembaga kerja sama bipartit yang berada di perusahaan. agar perjalanan ke depan bagi terjalinnya hubungan industrial yang harmonis ini dapat terwujud secara berkelanjutan, disarankan setiap pemasalahan yang muncul di perusahaan dapat diselesaikan oleh lembaga bipartit dengan pemahaman yang sama terhadap bagaimana memecahkan masalah didasarkan pada “win-win solution”. untuk mencapai tahap penyelesaian masalah berdasarkan “win-win solution”, anggota lembaga bipartit itu sangat memegang peran menentukan. dalam arti, setiap ada masalah yang timbul diusahakan secara maksimal agar dapat diselesaikan antara dua pihak saja, yaitu antara unsur pengusaha dan unsur pekerja/pekerja. berdasarkan pengalaman, apabila permasalahan yang muncul di suatu perusahaan tidak dapat diselesaikan oleh lembaga bipartit, hal itu berarti akan memerlukan proses yang panjang dan biaya cukup banyak serta sangat melelahkan karena harus diproses secara berjenjang sampai para pihak memperoleh keputusan yang final. seperti dicontohkan sebelumnya, rekan dari pt dirgantara indonesia yang tidak puas terhadap keputusan phk mereka oleh panitia penyelesaian perselisihan perburuhan pusat dan mengajukan gugatan ke pengadilan tinggi tata usaha negara. karena gugatan mereka dikalahkan oleh pengadilan tinggi tata usaha negara, upaya mereka sekarang ini adalah mengajukan kasasi ke mahkamah agung yang berarti akan memakan waktu lama lagi dan biaya yang bertambah besar. keputusan yang diperoleh belum tentu memuaskan para pekerja/buruh. selain itu, dalam rangka menciptakan iklim usaha yang memberikan perlindungan kepada tenaga kerja/buruh dan sekaligus memenuhi keinginan pihak pengusaha guna pengembangan investasi maka upaya keinginan untuk mengamandemen beberapa pasal dari undang-undang no.13 tahun 2003 tentang ketenagakerjaan disarankan kepada pemerintah yang baru terpilih ini untuk mempertimbangkan keinginan tersebut. adapun pasal yang perlu direvisi, antara lain masalah penggunaan sumber daya dari luar (outsourcing), pekerja waktu tertentu, mogok kerja, penetapan pesangon yang suatu tinjauan tentang tenaga kerja... (idi setyo utomo) 93 dikaitkan dengan hak pensiun, hak pekerja/buruh yang mengundurkan diri, dan ketentuan sanksi yang sangat lemah dan tidak adil sehingga merugikan pekerja/buruh. selama ini, ump/umr selalu menjadi masalah setiap akan ditetapkan oleh gubernur kepala daerah pemerintah propinsi. hal itu karena dengan sistem pengupahan yang ditetapkan berdasarkan ump/umr, tuntutan kenaikan ump/umr selalu muncul setiap tahun. lagi pula ump/umr yang berlaku sekarang ini berlaku bagi seluruh sektor tanpa memedulikan kemampuan perusahaan karena ada peluang bagi pengusaha mengajukan penundaan penerapan ump/umr, jika perusahaan merasa belum mampu. dalam rangka menghindari tuntutan yang selalu muncul setiap tahun, disarankan pada masa mendatang agar penetapan besaran pengupahan per bulan bagi pekerja/buruh itu perlu dipikirkan supaya dapat lebih adil, baik bagi kalangan pengusaha maupun bagi kalangan pekerja/buruh. misalnya, penentuan besaran upah per bulan ditetapkan berpedoman pada produktivitas, performa, dan kontribusi pekerja/buruh di sektor industri masing-masing, serta perlu diperhitungkan agar besaran upah per bulan bagi pekerja/buruh di setiap propinsi harus diupayakan minimal sama atau di atas angka kebutuhan hidup minimum (khm). daftar pustaka breman, jan. 1977. menjinakkan sang kuli: politik kolonial awal abad 20. jakarta: pustaka umum grafiti. terj. koesalah soebagyo toer, dari buku: koelies, planters en koloniale politiek: het arbeidsregime op de grootlandbouwondernemingen aan sumatra’s oostkust in het begin van de twintigeste eeuw. pusat bahasa, departemen pendidikan nasional. 2001. kamus besar bahasa indonesia. edisi ketiga, cet. 1. jakarta: balai pustaka. susetiawan. 2000. konflik sosial: kajian sosiologis hubungan buruh, perusahaan dan negara di indonesia. cet.ke-1. yogyakarta: pustaka pelajar. undang-undang no. 22 tahun 1957. tentang penyelesaian perselisihan perburuhan. undang-undang no. 12 tahun 1964. tentang pemutusan hubungan kerja di perusahaan swasta. undang-undang no. 13 tahun 2003. tentang ketenagakerjaan. undang-undang no. 2 tahun 2004. tentang penyelesaian perselisihan hubungan industrial. *corresponding author p-issn: 1412-1212 e-issn: 2541-2388 43 the winners, 23(1), march 2022, 43-50 doi: 10.21512/tw.v23i1.7099 how financial ratios and firm size affect profitability: evidence from food and beverages industry in indonesia chesa ivania larasati1; purwanto2* 1,2faculty of business, president university jababeka education park, jl. ki hajar dewantara, mekarmukti, bekasi, west java 17530, indonesia 1ivaniachesa@yahoo.com; 2purwanto@president.ac.id received: 27th february 2021/ revised: 25th april 2021/ accepted: 28th april 2021 how to cite: larasati, c. i. & purwanto. (2022). how financial ratios and firm size affect profitability: evidence from food and beverages industry in indonesia. the winners, 23(1), 43-50. https://doi.org/10.21512/tw.v23i1.7099 abstract the research was conducted to determine the influence of financial ratios and firm size on the profitability of the company in the food and beverages industry in indonesia, both partially and simultaneously and to determine which factor has the most significant influence on profitability, from 2014 to 2019. the researcher selected six independent variables to be evaluated using descriptive statistical analysis, classical assumption evaluation, multiple regression analysis, and hypotheses testing with the microsoft excel 2016 and eviews 10 as statistical tools. the sampling method and panel data were used to collect the data. there were 72 observation data collected from the indonesia stock exchange as well as the company's official webpage from 11 food and beverage companies. the financial ratios chosen for the research were working capital to total asset ratio, current ratio, debt to equity ratio, total asset turnover, inventory turnover, and firm size. on the other hand, return on assets was being used as the dependent variable. the research results indicate that, simultaneously, 51,35% influences the profitability of the company. total asset turnover, inventory turnover, and firm size insignificantly influence the performance of the company, and the debt to equity ratio is the factor with the most significant influence. keywords: financial ratios, firm size, industry profitability i. introduction people or organizations enter the mass market or any profession due to several motivations such as earning and gaining profit despite other personal interests. every industry sector is doing financing activities to achieve their goals. the food and beverages industry is one of the industries growing rapidly year by year. in 2019, the food and beverages industry were predicted to be the number one growing industry. along with the population growth in indonesia, the volume of the needs towards foods and beverages is increasing. throughout the first semester of 2020, indonesia’s economic performance in the first semester of 2019 experienced a contraction of minus 5,32%. several industrial sectors also experienced the same thing, namely negative performance. however, the performance of the food industry in the first semester of 2020 towards semester 1 in 2019 continued to experience positive growth of 2%. meanwhile, the second quarter of 2020 experienced a growth of 1,9% against the second quarter of 2019. the tendency of indonesian to eat fast food has caused the appearance of new companies in food and beverages since the food and beverages industry considerably has a good prospect in the current year or even in the years ahead. the food and beverages industry has an important and strategist role, not only for the fulfillment of the needs of food and beverages but also important in the value improvement from the primary product to help the related industries increase as well (sanjaya & henviani, 2020). as a result, investments are becoming a more desirable alternative to existing spending for society, rather than consuming items, and families are saving more. simply put, more savings will result in greater investment in potential wealth (dhantine & donaldson, 2015). the financial performance of the company is an element directly related to the measurement of the performance of the company that is shown in the financial report called the statement of income. in addition, net profit frequently used as an indicator of performance or as a reference for other indicators. in order to gain profit, many companies create such strategies and systems to achieve it. one of the most 44 the winners, vol. 23 no. 1 march 2022, 43-50 important cores of a company is how they manage their financial activities to get to the community. the value of a company is affected by the economic conditions and the business environment in which a company is located. therefore, valuation needs to be done by looking at macroeconomic conditions and industrial conditions as well as existing market shares (cakranegara, 2020). for investors, the study of the financial ratios could be used to see whether the company is worth enough to invest and how well the outlook is in the future by comparing the financial ratio between each entity and relevant agencies, or average rates may indicate a relative financial situation. financial ratio analysis can help investors in making investment decision and predicting firm’s future performance. it can also give early warning about the slowdown of firm’s financial condition (ohlson, 1980). research in finance shows that firm’s characteristics (such as growth, company size, efficiency) can predict the future stock price. in the research, the financial performance in food and beverages companies will be discovered by using financial ratios analysis such as working capital to total asset (wcta), current ratio (cr), debt to equity ratio (der), total asset turnover (tat), inventory turnover (it), and firm size (siz). the effective use of the financial ratios focuses on two approaches: 1) accountants and 2) economists for forecasting potential financial conditions, e.g. the estimated future profits by multiplying the expected profit margin revenue (sales ratio/profit) and, more often, statistical methods analysts, especially for predictive inquiries, such as market losses. the data are collected from company’s financial report (shah & khan, 2018). a financial report serves everything regarding the company’s financial condition such as, its financial position, cash flow, and the financial performance of the company that might be beneficial for the stakeholders in making financing decisions. one of the simplest ways to determine a company's financial condition is by doing a financial ratio analysis since the raw data needed is already publicly available by the company. therefore, it is do-able and accessible to everybody. commonly, a financial ratio is executed by comparing two or more variables from the company’s financial statement to be used to calculate the financial position of the company for a given period of time (tracy, 2012). the ratio of a working capital is perhaps the most valuable ratio in forecasting the loss of the company since it is associated with profitability. inefficient working capital in the management of the company is one of the reasons that may impact the profitability of the company. it may also create a financial crisis in the company, despite all the profitability orientation, firm size, and business orientation, the company’s needs a certain amount of it (purba et al., 2020). another ratio from the liquidity is current ratio that aims to analyse whether a corporation meets its short-term debt obligation with dividing its current assets into its total debt. higher average ratio allows greater ability of the firm to fund new loans by leveraging existing assets, whose amounts are not so high (rohmah, 2018). leverage ratio shows both on the inside and outside of the company itself about how efficient they are in spending borrowed money. the ratio itself results from the activities of the company by external parties, which may be named fixed costs. the debt-toequity ratio has been used by investors and economists to figure out how much the debt of the firm is relative to the equity of the company or the owners (irman, et al, 2020). other research has shown that the value of der has a substantial effect on the return on assets (dewi, 2017). the activity ratio is often referred to as the productivity ratio, a ratio that indicates the quality and usage of all assets owned by the company. total asset turnover would be used as the calculation of which the activity of this ratio includes in measuring the turnover of every company’s assets to know the profitability of sales. total asset turnover is among the most important factors of the company and is significantly valuable for company’s shareholders. however, it is more important for the management section to analyse since this ratio indicates their efficiency in spending money (purwanto & bina, 2016). on the other hand, inventory turnover ratio or inventory cycle of a company shows that the less inventory is in the company, the more productive it is for the company (farooq, 2019). firm size is regarded to be a significant and basic firm aspect, in any case, finding a firm size 'size-effect' influences the analytical outcomes (dang et al., 2017). wang et al, (2020) state that it is possible to calculate the firm size by using logarithmic nature of total assets at year-end. a higher value of these variables leads to higher rate of the firm size of the company. similarly, bigger asset makes it possible to have greater capital invested, while more sales also means more money turns in the company (andy & johan, 2019). return on assets (roa) can be the measurement of the financial performance of multinational companies, in particular from the point of view of profitability and investment opportunities. return on asset in this case focuses on the ability of the company in gaining profit in the company’s operation. return is measured by profitability analysis, while risk can be measured using variability sales, cost, and portfolio diversification (rusydiana & nugroho, 2017). if the return on asset of a company increases, so does the profitability, thus it will be affecting the dividends and capital gain for the stockholders. financial performance is a result of the analysis to see how far the firm has come with the right decisions of finance. the components specifically relevant to the calculation of net profit are revenue and cost. profitability is commonly chosen as the key measurement to indicate a company’s financial performance and health. according to niresh and velnampy (2014), profitability is the amount of money that can threaten a company’s assets and be the main purpose of the companies to maximize their profit. 45how financial ratios and firm.... (chesa ivania larasati: purwanto) it appears noticeable the growth of food and beverages in indonesia is decreasing through the year despite the fact that in a financial situation, the industry is getting better. based on the history of the ups and downs of the industry, in which many foods and beverages companies can survive, it is interesting to expose and discover the performance of this industry. therefore, the research obtains information and identify the performance of the food and beverage industry by using financial ratio analysis that affects profitability and by examining the relationship of each variable. this can be useful for the food and beverage business as an insight into the financial success of the business and financial profitability to evaluate and compare between companies and find out the strengths and weaknesses of the company by learning from other companies. ii. methods the research applies a quantitative analysis as a testing tool. all financial data are collected upon its financial results of the company listed on the indonesian stock exchange. all data used in the research come period 2013-2019. several hypotheses are formulated: h1: there is significant influence of working capital to total asset on company’s profitability h2: there is significant influence of current ratio on company’s profitability h3: there is significant influence of debt to equity ratio on company’s profitability h4: there is significant influence of total assets turnover on company’s profitability h5: there is significant influence of inventory turnover on company’s profitability h6: there is significant influence of firm size on company’s profitability h7: there is significant influence of the whole independent variables towards company’s profitability the research uses a parameter best linear unbiased estimator (blue) aiming the successful outcome will be discovered. there are some of the requirements in using blue parameter, namely: 1) normal distribution data, 2) no serial correlation, 3) homoscedasticity, 4) the model is properly classified, 5) no absolute relationship between independent variable. multiple regression approach is a study to see the pattern of the interaction between more than one independent variable and dependent variables (irman, et al, 2020), where the equation is written: y = ꞵ0 + ꞵ1x1+ ꞵ2x2 + ꞵ3x3 + ꞵ4x4 + ꞵ5x5 + ꞵ6x6 + e (1) notes: y = return on asset (roa) of food and beverages companies listed on idx ꞵ0 = constant x1 = working capital to asset (wcta) x2 = current ratio (cr) x3 = debt to equity ratio (der) x4 = total asset turnover (tat) x5 = inventory turnover (it) x6 = firm size (siz) ꞵ1 ꞵ6 = regression coefficients e = error term iii. results and discussions the research requires another method in providing a brief explanation about the data that have been computed on eviews 10 (statistical software) to summarize the specific data set. therefore, the research uses result of the interpretation of descriptive analysis to calculate the mean, median, maximum and minimum level, and standard deviation with total 77 observation data. according to creswell (2017), descriptive statistical analysis serves data in details such as mean, median, standard deviation, and the scoring level in terms of the distribution frequency that can be seen in statistical techniques concise statistics (table 1). hausman test can help the researcher in discovering which are more preferable between fixed and random effects for the research. the hausman test result in table 2 implies that the probability value is 1,000, which means that if the probability value surpassed the significance value that has been set which is 5%, it is concluded that the research is best table 1 descriptive statistic result roa wcta cr der tat it firm size mean 0,1024 0,1338 1,8343 0,9502 1,2197 7,6402 15,1996 median 0,0780 0,1620 1,6230 1,0280 1,2060 6,1490 14,8740 maximum 0,6070 0,5380 4,8440 3,3390 2,5930 24,3970 18,3850 minimum -0,0890 -2,4160 0,1520 -2,0170 0,5420 2,2170 12,6250 std. dev. 0,1312 0,3477 0,9783 0,7101 0,4093 5,1382 1,5542 observations 77 77 77 77 77 77 77 source: proceed data by eviews 10 46 the winners, vol. 23 no. 1 march 2022, 43-50 suited to the use of a random effect model. according to normality test result provided figure 1, the result of the jaque-bera is 0,118088 which surpasses the significant value of 5% or 0,05. it is indicated that the data are generally spread and fulfill the criteria of the normality test. the aim of the heteroscedasticity test is to determine if there is an inequivalent variation in the regression model through one finding to the other. the white test is to assess whether or not there is heteroscedasticity in this study. according to the result of the white test, it is shown that ‘white crosssection standard errors & covariance (d.f. corrected)’. the benefit of this method is that this method has a function to solve the heteroscedasticity. it turns out that heteroscedasticity does not occur in the research. the objective of the multicollinearity study is to check whether a correlation can be identified among independent variables. if the independent variables are associated, the variables are not orthogonal. test results in table 4 explains the highest matrix is found between wcta and cr by 0,6216. the result is valid since the value of correlation of each independent variables is not more than 0,7 which means that the multicollinearity issue of the research does not occur. according to the outcome of the regression analysis in table 5, durbin-watson’s calculation value is 1,730332 and it fulfills the condition of -2 ≤ dw ≤ 2. therefore, it is concluded that the result is -2 ≤ 1,730332 ≤ 0,5, so there is no autocorrelation existing in this research. according to ghozali (2016), a good regression model is a model that has no autocorrelation. the findings of the multiple regression study helps to estimate the mean value of the dependent variable in this sample based on other independent table 2 hausman test result correlated random effects hausman test equation: untitled test cross-section random effects test summary chi-sq. statistic chi-sq. d.f. prob. cross-section random 0,000000 6 1,0000 source: proceed data by eviews 10 figure 1 normality test result source: proceed data by eviews 10 table 3 heteroscedasticity test dependent variable: roa method: panel egls (cross-section random effects) date: 12/09/20 time: 10:38 sample: 2013 2019 periods included: 7 cross-sections included: 11 total panel (balanced) observations: 77 swamy and arora estimator of component variances white cross-section standard errors & covariance (d.f. corrected) warning: estimated coefficient covariance matrix is of reduced rank source: proceed data by eviews 10 47how financial ratios and firm.... (chesa ivania larasati: purwanto) variables. according to ghozali (2016), the coefficient of determination (r2) basically measures how far the model's ability to explain variation of the dependent variable. based on the output of eviews 10 partially from the six independent variables which are wcta, cr, der, tat, it and siz towards roa as the dependent variable, it is shown in table 6. the first hypothesis states that working capital to total asset positively and significantly has impact towards return on asset. the result obtains that the regression coefficient of wcta is 0,1815 with its significant value is 0,0020, which means less than 0,05. wcta displays the net operating capital of the company's total current assets to sustain the company's activities. purba et al. (2020) state that the ratio of a working capital is perhaps the most valuable ratio in forecasting the loss of the company since it is associated with profitability. the second hypothesis is that the current ratio has a major impact return on asset, as seen in the food and beverage industry in indonesia. the outcome of the regression coefficient of cr is -0,0344 with a significant value of 0,0083. it is concluded that cr has a negative significant value towards company’s roa because its significant value is less than 0,05 but with a negative t-test result. the current ratio (cr) is indeed a formula used to determine the firm pays off all its short-term obligations to existing assets and is also part of the liquidity ratio. the higher the cr percentage means that the company has a better efficiency in its financial management (hasanah & enggariyanto, 2018). as table 6 provides, der as the third independent variable comes out with the regression coefficient result of -0,0704 and with its p-value (significant value) is 0,0015. the negative value of der and its p value, which is less than 0,05, indicates that der occurs to have a negative and major effect on roa. the der is necessary to find out the sum of money provided to the owner of the business by the creditor. the higher the percentage, the healthier it is for the company. this variable indicates that each rupiah to its own money is being used as collateral for the debt. there is also no limits on how much der is good for the company. however according to irman et al. (2020) for conservatives, the normal der that crosses 66% or 2/3 is considered risky. the next hypothesis relates to the impact of tat on roa. based on table 6, the variable tat has the significant value of 0,2930 with the regression coefficient is 0,0527. with a p-value of more than 0,05, this shows that tat does have an insignificant table 4 multicollinearity test wcta cr der tat it firm size wcta 1,0000 0,6216 0,1684 0,0007 -0,0400 0,2424 cr 0,6216 1,0000 -0,3152 -0,2485 -0,0197 0,3248 der 0,1684 -0,3152 1,0000 0,3206 0,0138 -0,1562 tat 0,0007 -0,2485 0,3206 1,0000 -0,1627 -0,6230 it -0,0400 -0,0197 0,0138 -0,1627 1,0000 -0,1158 firm size 0,2424 0,3248 -0,1562 -0,6230 -0,1158 1,0000 source: proceed data by eviews 10 table 5 durbin-watson test result weighted statistics durbin watson statistics 1,730332 source: proceed data by eviews 10 table 6 multiple regression analysis result variable coefficient std. error t-statistic prob. c 0,8750 0,7044 1,2423 0,2187 wcta 0,1815 0,0564 3,2186 0,0020 cr -0,0344 0,0126 -2,7259 0,0083 der -0,0704 0,0212 -3,3287 0,0015 tat 0,0527 0,0497 1,0602 0,2930 it 0,0095 0,0065 1,4617 0,1487 siz -0,0529 0,0450 -1,1743 0,2446 source: proceed data by eviews 10 48 the winners, vol. 23 no. 1 march 2022, 43-50 and positive impact on the return on the asset of the firm. for the company, the greater the ratio of tat, the better it is for the company. total asset turnover (tat) shows the level of efficiency in the use of all company’s assets in generating certain income. this is the calculation of which activity of this ratio is included in measuring the turnover of every company’s assets to know the profitability of sales (hasanah & enggariyanto, 2018). high total asset turnover means the cooperative management’s ability to manage asset both current and fixed assets. therefore, total asset turnover can be enlarged by adding assets on one hand and on the other so that increase in sales can be greater than the increase in asset. table 6 shows that it has a significant value by 0,1487 with the regression coefficient result is 0,0095. based on the fact that the p-value of it is more than 0,05 and the t-test is positive, it is concluded that it has a positive but not significant influence towards company’s roa. it is included in the activity ratio, which becomes an indicator of a company in control and allocates its assets (gibson, 2011). this inventory turnover ratio or inventory cycle of a company shows that the less inventory in the company, the more productive it is for the company. it is also better if the company can sell inventory quickly to avoid overload inventory stored in the warehouse for a long time. the outcome of the analysis displays that siz is the last independent variable with a regression coefficient value of -0,0529 with a p value of 0,2446. the research finds that siz has a negative result and significance value more than 0,05, which makes siz to be the variable that has negative and insignificant influence towards roa. this insignificance result means that the company is getting bigger, so the company needs greater cost in maintaining its operational activities. the negative influence occurs since activities such as administrative, labor costs, maintenance costs of vehicles, general costs, and many more might reduce company’s return on assets (ali, 2019). according the result of multiple regression analysis it shows that the adjusted r2 is 0,513506, where it implies that 51,35% of profitability of the company is the return on the asset. in the research, profitability is affected by the wcta, cr, der, tat, it and siz. the rest of the 51,15% is impacted by many other factors that are not examined in the research. on the other hand, the result of the f-test also displays that the significance value is 0,000, which means under the 0,05. it is concluded that the independent variables has significant influence towards company’s financial performance (roa) simultaneously. moreover, based on the level of significance towards the dependent variable, independent variable with the most significant value is debt equity ratio with -0,074 and the p-value is 0,0015. coefficient determinant analysis aims to see how much impact its independent variables have on the roa as a percentage. if the value is equal to one, then the r2 is considered great since it has a strong capacity to influence the dependent variable (shadmehri & fathi, 2013). the higher the r2 value, the higher the influence between independent variables and roa, and vice versa. table 7 coefficient of determination weighted statistics r-squared 0,590321 adjusted r-squared 0,513506 source: proceed data by eviews 10 table 7 shows that the result of the r2 is 0,590321 or 59,03%. nevertheless, it is better to use the adjusted result of the r2 to obtain more balanced and correct result of the coefficient determination. the result of the adjusted r2 is 0,513506, so it can be concluded that 51,35% of variability of roa can be linked or connected to the independent variables (wcta, cr, der, tat, it, and siz) simultaneously. the remaining 50,65% are affected by certain variables that are not being used in this regression model. it is discovered that the most significant aspect impacting the profitability of the company in food and beverages industry in indonesia is debt to equity ratio. der has its smallest p-value which is 0,0015 and less than 0,05, which makes it the most significant factor that influence profitability. companies really need to pay attention on the percentage of the debt to equity ratio as it is directly and significantly influence roa. iv. conclusions there have been six independent variables throughout the research, which are all tested by descriptive statistical analysis, classical assumption test, multiple regression analysis, and hypothesis testing. working capital to total asset ratio has a positive significant effect on the profitability of the company. current ratio has a negative significant influence towards company’s profitability. debt to equity ratio as the third independent variable indicates a negative significant influence towards profitability of the company. total asset turnover shows an insignificant positive influence towards profitability of the company. inventory turnover shows a positive significant influence towards company’s profitability. firm size as the last independent variables shows that it has significant negative influence towards company’s profitability. der has its smallest p-value which is 0,0015 and less than 0,05 that make it the most significant factor that influence profitability. the respective foods and beverages companies in indonesia are also fully suggested to take a deep look and improve on the chosen financial ratios in the research as independent variables such as, working capital to total asset, current ratio, debt to equity ratio, 49how financial ratios and firm.... (chesa ivania larasati: purwanto) total asset turnover, inventory turnover and firm size in assets which have been confirmed to have a major effect on asset returns. all of those financial ratios are affecting the company’s profitability for 51,35%. indonesia’s food and beverages industry is able to survive during economic crisis and keep moving to a better economic condition. it is suggested that company should maintain their sustainability and pay attention to their financial report as part of their risk management to gain profitability that will affect indonesia’s gdp and attract more investors to invest in this sector to help the country economic progress. in addition, it is advisable that investors understand about financial ratio analysis and corporate financial performance before investing in a company. it will help investors to have a better insight in investing by looking on the fundamental investment analysis. the research has several limitations, in terms on the financial ratios and the sample period. thus, future researchers are suggested to extend the time period and expand the size of the sample or input population of the research to obtain more observation data and get more specific background of the food and beverages industry in indonesia. knowing that 51,35% of the company’s profitability is impacted by the chosen independent variables in the research. adding more variable is also suggested for the next future research to find more factors that might affect profitability of the company. references ali, s. a. 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(1980). financial ratios and the probabilistic prediction of bankruptcy. journal of accounting research, 18(1), 109-131. http://dx.doi. org/10.2307/2490395 purba, m. i., sitorus, a. s., rinanda, a., malau, i., & danantho, q. (2020). pengaruh working capital to total asset (wcta), current ratio (cr), dan debt to equity ratio (der) terhadap profitabilitas pada perusahaan manufaktur sektor aneka industri terdaftar di bursa efek indonesia periode 20142017. universitas dharmawangsa, 14(3), 404-418. purwanto & bina, c. r. (2016). analysis of financial ratio on predicting earning growth in selected mining companies. universal journal of industrial and business management, 4(3), 81-87. https://doi. org/10.13189/ujibm.2016.040301 rohmah, i. (2018). pengaruh current ratio (cr), debt to equity ratio (der), total asset turnover (tato) dan net profit margin (npm) terhadap return on assets (roa) pada perusahaan food and beverage yang terdaftar di bursa efek indonesia (bei) tahun 2013-2016. kudus: fakultas ekonomi dan bisnis, universitas muria kudus. rusydiana, a. s. & nugroho, t. (2017). measuring efficiency of life insurance institution in indonesia: data envelopment analysis approach. global review of islamic economics and business, 5(1), 12-24. http://dx.doi.org/10.14421/grieb.2017.051-02 sanjaya, r. & henviani. (2020). factors that infuence on the price to book value of the company in indonesia stock exchange. riset: jurnal aplikasi ekonomi 50 the winners, vol. 23 no. 1 march 2022, 43-50 akuntansi dan bisnis, 2(2), 361-372. https://doi. org/10.35212/riset.v2i2.58 shah, m. & khan, f. 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(2020). tax shelters, reputational costs and ceo turnover: evidence from tax-violating enterprises in china. emerging markets finance and trade, 57, 1986-2005. https:// doi.org/10.1080/1540496x.2020.1768070 measuring the quality of signs …… (lyudmyla malyarets; oleksandr dorokhov) 1 measuring the quality of signs for objects in the economy lyudmyla маlyarets1; oleksandr dorokhov2 1department of mathematics, faculty of finance, kharkiv national university of economics, kharkiv, ukraine 2department of information systems, faculty of economics informatics, kharkiv national university of economics, kharkiv, ukraine 2aleks.dorokhov@meta.ua abstract the problems of measuring the quality attributes for different objects in the economy were considered. this article used methods of value measuring in the economy that were determined by the existing types. in this, it must distinguish between direct primary measurement, indirect measurement, joint and combined measurement. the different ways to solve it on the basis of joint measurement of qualitative and quantitative attributes inherent to economic facilities that were explored. stages and elements of the quantities measurement processes in the economy were classified and analyzed. the corresponding mathematical methods and tools depending on the objectives and procedures of measurements were determined. the conceptual representation of an integral quality of the object in the economy as a generalizing indicator was proposed. it finds that it is possible to make general conclusions that underestimate the role of non-metric signs in the characterization of the object that is explained by their insufficient study and poorly developed mathematical tools to measure them. keywords: quantities measurement in economy, object quality assessment, qualitative methods in economics introduction measuring the quality of attributes for objects in the economy is a very complex problem. it touches the foundations of quantities measurement in economics, in conditions of the lack of universally accepted and common general concepts of measurement and evaluation for quality attributes of economic objects of different nature and essence. however, consideration and resolution of this problem are extremely necessary to ensure the integrity of the data and the results of their subsequent analysis of the economy. if it is possible to distinguish one property from another for the economic object qualitatively, then it is possible to quantify it, to identify the units and methods of measurements, and the value of the properties under consideration. thus, forming conditions for the formalization of the properties of the object to the signs and further studying this object using these signs, for example, is the measurement process in the economy (malyarets, 2006; ponomarenko & malyarets, 2009). methods methods of value measuring in the economy are determined by their existing types. in this, we must distinguish between direct primary measurement, indirect measurement, joint and combined measurement. highlighted types of measurement can be regarded as procedures of variables 2 journal the winners, vol. 18 no. 1, march 2017: 1-11 measurement technology. it is expedient to allocate the following elements of the measurement process in the economy: (1) object, measuring the quality of attributes for objects in the economy is a very complex problem as it touches the foundations of quantities measurement in economics. it is due to the lack of universally accepted and common general concepts of measurement and evaluation for quality attributes of economic objects of different nature and essence. however, consideration and resolution of this problem are extremely necessary to ensure the integrity of the data and the results of their subsequent analysis of the economy. if it is possible to qualitatively distinguish one property from another for the economic object, then it is possible to quantify it. it is also possible to identify the units and methods of measurements and the value of the properties under consideration. thus, forming conditions for the formalization of the properties of the object to the signs and further studying this object using these signs, i.e., the measurement process in the economy (malyarets, 2006; ponomarenko & malyarets, 2009). (2) sign, the magnitude of the sign, the value of magnitude, means for measuring, methods, conditions, technologies, results, measurement errors, and the system of measurers. the means of value measuring in economics are the scales and various indicators (borie, 2016; knorring, 1983; turk, 2011). measurement methods depend on the kind of values; technical, economic, statistical and mathematical methods. the conditions of measurements can be manufacturing, accounting, statistical, and researching (malyarets, 2006). in metrology, the definitions of the contents of separate individual elements of measurement are considered the science of measurement, although they refer only to the physical quantities. however, in this article, it is considered as features of the content of the measurement process which are due to the peculiarities of measurements in economics. thus, the general scheme of stages for measuring of signs values in economics is shown in figure 1. taking into account the meaningful sense of values in economics, it is advisable to consider the measurement technology in the form of five procedural blocks; they are the procedure of formulation, the procedure of preparation, initial measurement, secondary measurement, and the procedure of measurement errors control. each mentioned procedure is different by content and complexity, but only the third procedure that involves direct measurement, i.e., the operationalization of the measurement is carried out exactly in it. the remaining procedures form the conditions of operationalization and obtainment of measurement results, and its numerical values with the necessary accuracy. from the correct implementation of these procedures that depend on the accuracy of determining the values in the data analysis, consequently, the quality of economic management decisions shall be taken by the concerned person. the proposed scheme of the measurements stage of signs in the economy organizes this process well enough and is the only possible one in our opinion. depending on the purpose of the value measurement, the individual stages of the overall technology may be missing. however, the logic in the sequence of actions, even in the abbreviated scheme should remain the same. the choice of mathematical tools for the measurement of values is restricted. the practice of solving real problems in the economy shows the advisability to use mathematical methods, the list of which is given in table 1 (knorring, 1983). measuring the quality of signs …… (lyudmyla malyarets; oleksandr dorokhov) 3 1. analysis of the purpose of determining attribute magnitude of object 2. cognitive model formation 3. semantic model development 4. creation of conceptual model 5. a priori definition of the object attributes as part of the socioeconomic system 6. determination of attribute type (elementary or complex) 7. determining of value type (metric or nonmetric) 8. refinement of kind in the case of metric values 9. the choice of measurement method and its possible means 10. preliminary choice of data processing algorithm 11. the priori estimation of measurement errors 12. choice of measurement system 13. determining the type of non-metric quantities and measuring scale 14. checking of scale 15. implementation of the technical measurement operation 16. conversion of metric quantity to indicator 17. giving quantities form for non-metric sign 18. homogeneity determination for sign quantity 19. the choice of getting indicator method 20. formation of conceptual model of complex sign 21. development of mathematical model of complex sign 22. the combined measurement of metric and non-metric values of complex sign 23. conversion of complex sign value to general indicator 24. formation of system of indicators 25. analysis of the results on methodological errors 26. analysis of the results on methodical errors 27. analysis of the results on technical errors 28. analysis of the results on personality errors 29. trouble shooting errors 30. result report of value determining (considering errors), passage to a new measurement cycle figure 1 general scheme of stages for measuring of signs values in economics table 1 tools to determine the values of attributes and its tasks measuring phase recommended tools tasks of toolkit 1. formulation methods of structural logical analysis and synthesis of measurements target determining the purpose of measurements, the development of cognitive, informative, conceptual models 2. preparation methods of structural logical analysis and synthesis, methods of mathematical statistics definition of a sign kind, preparation of metric and non-metric signs to measure its value 3. initial measurement devices of measuring equipment, scales of measurement, methods of managerial accounting converting physical and non-physical quantities of elementary signs to indicator, giving the value to non-metric sign 4. secondary measurement methods of economic, mathematical and statistical analysis, other mathematical methods and models conversion value to indicator; measuring the values of complex signs; formation of the system of measurers for acceptance of managerial decisions and further mathematical modeling 5. errors control methods of mathematical statistics, economic analysis, management determination of the measurement errors at different stages 7 6 13 2 16 15 17 19 20 18 6 22 21 23 24 7 1 2 4 3 5 30 29 29 6 20 29 8 29 9 10 11 13 14 12 26 27 25 28 29 30 1 4 journal the winners, vol. 18 no. 1, march 2017: 1-11 in general, values in the economy can be divided into the basic physical values of elementary signs (which on this level of cognition can be quantified, extensive values) and derivatives physical values (obtained by means of basic physical values) (danilov & lambert-mogiliansky, 2005; malyarets, 2006; turk, 2011). in the second group, it can be distinguished such types of values, they are; (1) values with the dimension in physical units (obtained mainly by comparing the results and costs), (2) values without dimensions (coefficients, intensive values), (3) nonphysical values (metric values, obtained by certain transformations of physical values to the cost form of representation and their comparison), (4) synthesized metric values (define complex signs and objects in general), (5) statistical metric values (showing mass signs for sets of objects in general, the extensive and intensive), (6) non-metric values (reflecting qualitative characteristics of objects in economics, intensive, and qualitative, which are measured in non-metric scales). in general, this classification of values is represented in figure 2. figure 2 classification for values of signs in the economy the classification in figure 2 makes it possible to objectively measure different values in economics to display changes in the values of basic characteristics and properties. such an approach allows integrated and holistic diagnosis, evaluation, and control as a change in the very structure of the properties of an individual object, as well as a hierarchical system of groups of objects (in a cut of regions, of branches of economy, of state). moreover, it provides the fundamental basis ensuring the unity and the adequacy of the measurement of values in the economy. results and discussions the overall quality of the object in the economy represented by generalized characteristic is defined by metric and non-metric signs. the characteristic may be measured under the condition of modeling the object, its characteristics, properties, functioning, and development processes. the most known methods for construction of generalizing indices are based on quantitative indicators, for example, on the metric values. however, the characteristics of the object, based only on quantitative properties, limits its estimations, and in some cases, lead to inaccuracies in these estimations. a wellthe system of basic values (absolute and relative) signs of object quantitative indicators of metric signs the values of signs measured through ordinal scales the values of signs measured through nominal scales … … system of derivative values (complex, generalizing) of object signs … measuring the quality of signs …… (lyudmyla malyarets; oleksandr dorokhov) 5 known issue of compounds and interconnections of different values characterizing the same objects remains real in the traditional theory of general measurement and now (gomme & rupert, 2007; schwartz, 1985; zeumo et al., 2012). there are practically no recommendations for the construction of generalizing indicator of quality on the basis of non-metric values of the object and a fortiori, the joint measurements. the object in economics is characterized by a complex system of signs, separating it to quantitative and qualitative, extensive and intensive, metric and non-metric. therefore, the synergistic manifestation of systemic properties of the object is accumulated in its overall quality, as this is conceptually and simplistically shown in figure 3. figure 3 the conceptual representation of the quality of the object in the economy measuring the quality of an object is a measure of co-manifestations of all its properties (characteristics), which in the form of the mathematical model of the overall quality has to be multiplicative. it should be remembered that the laws and regularities of nature are quantitatively expressed by the relationship of physical quantities in the form of their multiplication. accordingly, the construction of an economic and mathematical model of the object (or its signs) to determine the quality, in the main, reduces to finding an adequate numerical representation of the multiplicative type. the joint expression of quantitative and qualitative properties of an object is measured by generalizing metric value, based on the multiplicative compound of partial metric and non-metric values, reduced to comparable form by calibration. calibration or converting of different values to the same measure is carried out through conversion functions to which number belongs desirability function of the individual values (metric and non-metric). note that in this case can be allowed a different kind of desirability functions. forms and properties of the desirability function for quantitative elementary and complex features are discussed in papers (saaty, 2008; schwartz, 1985). as it is known that each individual property of the object can be displayed on a separate sign, the value of which characterizes the measure (intensity) of this property, and form of the value of which is a partial indicator. furthermore, the total value for the quality of an object is determined by the which are measured using scales quality of the object as a whole (total) expressed by metric signs nonmetric signs interval of relations absolute of order quantitative indicators ordinal values for which the corresponding values take the form of nominal nominations (categories, predicates) 6 journal the winners, vol. 18 no. 1, march 2017: 1-11 convolution of values of signs. this convolution can be done by various methods. the main problems in the modeling of generalizing indicators for quality of socioeconomic systems and the sequence of their solutions are presented in figure 4 (ponomarenko & malyarets, 2009). figure 4 the logic of modeling for generalizing indicator of object quality in economy there are consideration ways to solve each problem separately. the first problem is the generalization of theoretical and practical knowledge about given sign, carrying out a statistical description of changing values for an indicator of the sign, and demonstrating its evolution. it can be solved based on the knowledge of experts (persons, making the decision) as a synthesis of theoretical and practical advances in the knowledge of this sign. it can also be solved by comparisons to the results of descriptive statistics to establish the contradictions in the actual change of sign quantity and taking into account the laws of its development. the second problem is the construction of conversion scales. by using it, it can carry out the conversion of economic indicators values (having their measurement units) in dimensionless scale. the solution here is conditioned by the results of solving the first problem and is a stage in the continuation of the measurement values of the economy because (due to transformation) the new values become comparable. there is evident that no matter how adequately built conversion scale is, it depends on the correctness of the results of procedures for secondary measuring the economy. the multiplicative form of synthesizing (total, generalizing) function can be used for the utilization of private indicators construction models and arithmetization models for the synthesis of the composite indicator (gomme & rupert, 2007). the grounds of this are the partial indicators represent the distribution functions of one-dimensional random values. thus, their multiplication is a distribution function of dimensional random variable with independent components. in this case, the value of summary indicator  qq at the point  0010 mq...,,qq  can be interpreted as the proportion of objects that having all the separate indicators values less than the value of 00 1 mq...,,q because the predominates probability that randomly chosen object will be for all particular criteria concede to the corresponding  mq...,,qq 1 . the geometric average  qq* is one of the most used generalizing average values that well studied from the standpoint of auto-arithmetization of numerical scales. the generalization of the the construction of scales for values transformations for indicators of signs the determination the main points for phase changes of values for indicators of signs the determination of a particular type the generalization of theoretical and practical knowledge about sign of system, implementation of descriptive statistics of signs the construction of generalized (integrated) conversion function measuring the quality of signs …… (lyudmyla malyarets; oleksandr dorokhov) 7 concept of auto-arithmetization for real numbers scale, obtained through the use of isomorphisms between the set of all real numbers and its various subsets, allows expanding the class of continuous strictly monotone mappings , which are used to make various types of generalized average  qq (hovanov, 1996). note that the partial functions calibrating values (normalizing functions) must be monotonous and can be interpreted as functions of the distribution of some random values. the domain of definition for the non-monotonic function can be separated into a small number of connected areas of monotonicity. it can also introduce the appropriate amount of positive particular indicators, monotonically dependent on corresponding initial characteristics. danilov & lambert-mogiliansky (2005) have proved the feasibility of using conversion functions ijy for the values of quantitative indicators (desirability functions) that having certain tendencies of change. for bilateral asymmetric development, here are the tendencies of signs:                                 ,,for,100 ,,for,100 2 2 3 3 iiiij ac ax iiiij ab ax ij acaxe abaxe y ii iij ii iij where ia , ii cb , – fiducials values: ia –the most appropriate value of the index ijx in which the transformation function reaches its maximum value 1 or 100%;  iiii cbc,b  – the unsatisfactory value of the index ijx (on both sides of the best value mentioned above) at which the transformation function reaches a value not greater than 0,05 or 5%. when symmetrical trends are in the development of sign, the transformation function reaches the value 1 or 100% at 2 ii i cb a   . at that function, it acquires much simpler form: 2 3 100             ii iij ab ax ij ey or 2 3 100             ii iij ac ax ij ey . for unilateral types of evolution, are used monotone functions: ii iij pq pxij e y      1 100 , where iq – values of the index ijx at which the transformation function reaches the value not less than 0,95 or 95%; ip – values of the index ijx at which the transformation function reaches the value 0,5 or 50%. separate conversions of non-metric values are made using desirability functions of quality indicators that are measured by using a nominal and ordinal scale. in its turn, data desirability functions are discrete functions and are defined in the tabular form. a particular type of these functions is due to the specific traits of concrete non-metric values. 8 journal the winners, vol. 18 no. 1, march 2017: 1-11 qualitative sign measured using a nominal scale is expressed by magnitude of intensity of the quality’s display and may take the following nominations (conformity to five standard estimations on a scale of desirability for the values of quantitative signs (danilov & lambert-mogiliansky, 2005; knorring, 1983; schwartz, 1985) – very low, low, medium, strong, very strong. in expanded variant: very low, low, medium, enough strong, strong, very strong. the given list of nominations can be extended. the qualitative sign can be represented by a variety of equivalent nominations that are not characterized by the intensity of manifestation of the value. a separate nomination of the quality sign is put into correspondence with the quantitative value of the desirability function. finally, briefly mention the problem of constructing generalizing indicator of quality on the basis of ordinal (measured by ordinal scales) signs of production and business activities of the economic object. as mentioned above, the nonquantitative property of an object can be expressed quantitatively by means of its degrees of intensity (danilov & lambert-mogiliansky, 2005). depending on the order or rank of degrees, it sets their quantitative estimations (points) and thus carries quality measurement using ordinal scales. the established point, for example, 1, 2, 3, 4, 5, is the quantitative expression of quality nominations of object properties (very low, low, medium, strong, and very strong). in order to establish points in expressing the qualitative sign, various methodologies are developed and used. however, almost all of them are based on the stimulus of the measured value (knorring, 1983). for a joint measure of ordinal signs, it is necessary to calibrate the set scores using desirability functions. in the article (borie, 2016; saaty, 2008) is given an example of calibration of ordinal signs according to a questionnaire survey and its processing. the essence of the approach that obtained scores is put into the correspondence of a certain value of the desirability function (in accordance with their importance and differences). as an example of the implementation of the proposals for the development of a generalization indicator, the authors will determine the assessment of the foreign economic activity of the company "turboatom" in the city of kharkiv (ukraine). the foreign economic activity of this enterprise is characterized by certain key economic indicators, which are different metric values. these are the performance indicators: 1x currency efficiency of export, 2x economic efficiency of export, 3x efficiency of product sales in the domestic market. these are the indicators of changes dynamics 1y index of the value of exported products, 2y -index of prices of exported products, 3y -physical volume index of exported products, 4y -index of structure of exported products, 5y realization of the plan for export, 6y realization of the sales plan on the domestic market. these are the indicators of structural shifts and rational that use of funds 3z proportion of overhead costs in the cost of exports, and 4z сoefficient of return on funds invested in export operations. according to the logic of developing a generalizing indicator, the value of each of the partial indicators of the enterprise during the last five years has been converted quarterly by function: ii iij pq pxij e y      1 100 . (1) s measuring the quality of signs …… (lyudmyla malyarets; oleksandr dorokhov) 9 figure 5 functions of the transformation of partial indices of the enterprise figure 5 shows the graphs of transformation functions. the value of the generalization indicator is calculated as the geometric mean of integral indicator of efficiency of activity ( xi ), integral indicator of changes dynamics ( yi ), and integral indicator of structural shifts and rational use of funds ( zi ), namely 31 zyx iiii  . 0 0,1 0,2 0,3 0,4 0,5 0,6 0,7 0,8 0,9 1 0,14 0,16 0,18 0,2 0,22 0,24 x1 y1 0,3 0,4 0,5 0,6 0,7 1,1 1,12 1,14 1,16 1,18 1,2 x2 y2 0,3 0,4 0,5 0,6 0,7 1,1 1,13 1,16 1,19 1,22 1,25 1,28 x3 y3 0 0,1 0,2 0,3 0,4 0,5 0,6 0,7 0,8 0,9 1 0,7 0,85 1 1,15 1,3 1,45 y1 y4 0 0,1 0,2 0,3 0,4 0,5 0,6 0,7 0,8 1 1,05 1,1 1,15 y2 y5 0 0,1 0,2 0,3 0,4 0,5 0,6 0,7 0,8 0,9 1 0,7 0,85 1 1,15 1,3 1,45 y3 y6 0 0,1 0,2 0,3 0,4 0,5 0,6 0,7 0,8 0,9 1 0,7 0,85 1 1,15 1,3 1,45 y4 y7 0 0,1 0,2 0,3 0,4 0,5 0,6 0,7 0,8 0,9 1 0,8 0,9 1 1,1 1,2 y5 y8 0 0,1 0,2 0,3 0,4 0,5 0,6 0,7 0,8 0,9 1 0,9 1 1,1 1,2 y6 y9 0,2 0,3 0,4 0,5 0,6 0,7 0,8 0,11 0,115 0,12 0,125 0,13 z3 y10 0 0,1 0,2 0,3 0,4 0,5 0,6 0,7 0,8 6,2 6,4 6,6 6,8 7 7,2 z4 y11 10 journal the winners, vol. 18 no. 1, march 2017: 1-11 generalizing indicator quarters based on the graph in figure 6, it can draw conclusions about the dynamics of the functioning of the foreign economic activity of this enterprise. figure 6 dynamics of the generalizing indicator of foreign economic activity for enterprise "turboatom" (2015-2016) the dynamics of the generalization indicator demonstrate the tendency of non-rhythmic operation of the enterprise. it has a downturn and low values of the generalized index since the first quarter, except for the eighth quarter. after analyzing the indicators of foreign economic activity of this company, it can conclude that in general that the efficiency is low. and the economic efficiency of exports ( 2x ) is less than the efficiency of sales of products in the domestic market ( 3x ).in order to determine which factors caused the low values of the generalizing index of the enterprise in the future, it is expedient to construct a tree of the level of quality. conclusions the proposed methodology for the construction of generalizing indicator of quality allows an architectonically measurement of all properties of an object in economics; metric and non-metric. credibility and validity of the developed approach provide not only the collaborative synthesis and comprehensiveness measurement of metric and non-metric values but also the possibility of spatial and temporal comparisons of them and objects of measurement itself. existing attempts at constructing and assessing the quality of the objects in economics based on the combination of values obtained by different mathematical transformations. considering them as the first approximation in the knowledge of the object, in principle, they should be not rejected. however, all methods are limited to the synthesis of metric or (at best) ordinal signs, without taking into account the nominal signs of the object. thus, generalizing quality of the object should be determined by the formula , where generalizing quality of metric attributes index; generalizing index of sign’s quality on ordinal scales; nomi generalizing index of sign’s quality on nominal scales. an alternative for more general case 31 2 nn nn y m ord nom i i i i   , where 321 nnnn  , 321 n,n,n weight coefficients for the importance of signs. in summary, it is possible to make general conclusions that underestimate the role of non-metric signs in the characterization of the object that is explained by their insufficient study and poorly developed mathematical tools to measure them. 3 y m ord nom i i i i   m i ord i measuring the quality of signs …… (lyudmyla malyarets; oleksandr dorokhov) 11 references borie, d. (2016). error in measurement theory. gredeg working papers 2016-09, groupe de recherche en droit, economie, gestion (gredeg cnrs) danilov, v., & lambert-mogiliansky, a. (2005). non-classical measurement theory: a framework for behavioral sciences. pse working papers halshs-00590714, hal. gomme, p., & rupert, p. (2007). theory, measurement, and calibration of macroeconomic models. journal of monetary economics, 54(2), 460-497. hovanov, n. (1996). analysis and synthesis of indicators in an information deficit [analiz isintezpokazateleypriinformatsionnom defitsite]. st. petersburg: st. petersburg university publisher. knorring, v. (1983). theoretical foundations of information and measuring equipment, basic concepts of the theory of scales [teoreticheskiye osnovyinformatsionno-izmeritel'noytekhniki. osnovnyye ponyatiyateorii shkal]. st.petersburg: st.petersburg university publisher. malyarets, l. (2006). measurement attributes of objects in economy: methodology and practice [vymiryuvannya oznakob'yektiv v ekonomitsi: metodolohiya ta praktyka]. kharkiv: khnue publisher. ponomarenko, v., & malyarets, l. (2009). analysis of data in studies of socioeconomic systems [analiz danykh u doslidzhennyakh sotsialʹno ekonomichnykh system]. kharkiv: khnue publisher. saaty, т. (2008). relative measurement and its generalization in decision making: why pairwise comparisons are central in mathematics for the measurement of intangible factors theanalytichierarchy/networkprocess. racsam (review of the royal spanish academy of sciences, series a, mathematics), 102(2), 251-318. schwartz, j. (1985). the neglected problem of measurement error in categorical data. sociological methods & research, 13(4), 435-466. turk, j. (2011). science is measurement: muons, money and the nobel prize. international journal of pluralism and economics education, 2(3), 291-305. zeumo, v., tsoukiàs, a., & some, b. (2012). a new methodology for multidimensional poverty measurement based on the capability approach. working papers hal-00874627, hal. microsoft word 08_edi supriyadi_setting.doc pengaruh entertainment,..... (edy supriyadi; lies putriana) 179 pengaruh entertainment, irritation dan informativeness iklan di website di kalangan mahasiswa fakultas ekonomi universitas pancasila edy supriyadi1; lies putriana2 1,2 jurusan manajemen, fakultas ekonomi, universitas pancasila jl. srengseng sawah, jagakarsa, jakarta selatan 12640 abstract there are several advantages and disadvantages and advertising via the internet. the appeal of advertising may also arise from given information element, the element of comfort but also sometimes lead to disturbing or irritation elements. the limited number of internet users in indonesia and the different backgrounds of individual internet users in indonesia certainly provide a different assessment of the advertisements contained on the internet. there are 3 factors which was the starting point to explain how consumers interpret the value of advertising, namely: informativeness, entertainment and irritation. this research aims to discover whether there is a relationship between entertainment, informativeness, and irritation toward advertising values and whether there is a relationship between entertainment and advertising values toward attitude towards web advertising using statistics tools of path analysis and multiple regression. the research shows that there is a significant relationship between independent variables such as informativeness, entertainment and irritation simultaneously toward the advertising value but there are no significant relationship between entertainment and informativeness toward the advertising value individually. in the other model there is a significant relationship between informativeness, irritation and advertising values with the attitude towards web advertising. keywords: informativeness, entertainment , irritation, advertising value, attitude towards web advertising abstrak ada beberapa keuntungan dan kerugian dari penyampaian iklan melalui internet. daya tarik iklan juga dapat timbul dari unsur informasi yang diberikan, unsur kenyamanan tetapi juga kadang-kadang mempunyai elemen yang mengganggu atau menjengkelkan. terbatasnya jumlah pengguna internet di indonesia dan latar belakang yang berbeda dari individu pengguna internet di indonesia tentu memberikan penilaian yang berbeda dari iklan yang terdapat di internet. ada 3 faktor yang merupakan titik awal untuk menjelaskan bagaimana konsumen menafsirkan nilai iklan, yaitu: keinformatifan, hiburan dan iritasi. penelitian ini bertujuan untuk mengetahui apakah ada hubungan antara hiburan (entertainment), keinformatifan (informativeness), dan iritasi (irritation) terhadap nilai iklan (advertising values) dan apakah ada hubungan antara hiburan dan nilai iklan dengan sikap terhadap iklan web (attitude towards web advertising) menggunakan alat statistik analisis jalur dan regresi berganda. hasil penelitian ini menunjukkan bahwa ada hubungan yang signifikan antara variabel independen keinformatifan, entertainment dan iritasi secara simultan terhadap nilai iklan tetapi tidak ada hubungan yang signifikan antara entertainment dan keinformatifan terhadap nilai iklan secara individual. pada model lain ada hubungan yang signifikan antara keinformatifan, iritasi, dan nilai iklan dengan sikap terhadap iklan web. kata kunci: keinformatifan, entertainment, iritasi, nilai iklan, sikap terhadap iklan web 180 journal the winners, vol. 11 no. 2, september 2010: 179-187 pendahuluan masyarakat umumnya kini tidak lagi sekedar menjadi objek teknologi dengan hanya menerima informasi dan data sebagai hasil olahan teknologi, melainkan juga diberdayakan untuk berinteraksi dan menggunakan teknologi khususnya teknologi informasi dalam tingkat akhir yang hampir tanpa batas. karena sifatnya yang demikian praktis kini komputer dapat dilibatkan dalam berbagai aktivitas keseharian kita. penggunaan iklan dan segala macam bentuk promosi semakin meningkat dewasa ini, bahkan media iklan kini telah berkolaborasi dengan penggunaan teknologi yang mutakhir melalui perikianan di situs-situs internet. terdapat beberapa kelebihan dan kelemahan dan periklanan melalui internet. periklanan yang tak terbatasi dengan wilayah namun dibatasi hanya kepada orang-orang yang memanfaatkan aplikasi teknologi komputer ini berlomba-lomba untuk menarik minat para pemakai internet agar mau dan berminat melihat, dan bahkan tertarik untuk menggunakan produk yang ditawarkan oleh pemasang iklan. daya tarik iklan bisa juga timbul dari unsur informasi yang disampaikan, unsur menghiburnya namun juga terkadang menimbulkan unsur mengganggu atau irritation. terbatasnya jumlah pengguna internet di indonesia dan berbedanya latar belakang individu pengguna internet di indonesia tentunya memberikan penilaian yang berbeda atas iklan-iklan yang terdapat di internet. iklan di internet yang sukses di negara asalnya, yaitu amerika serikat belum tentu berhasil menarik perhatian pengguna internet di negara lain, seperti di indonesia. melihat fenomena diatas maka yang menjadi pertanyaan adalah bagaimana para konsumen di indonesia menilai sebuah iklan di internet. nilai iklan bagi konsumen akan mempengaruhi strategi yang akan digunakan sebuah perusahaan dalam mempromosikan produknya, baik itu barang atau jasa. menurut penelitian yang telah dilakukan, opini konsumen tentang iklan akan mempengaruhi sikap konsumen terhadap iklan tersebut, dan selanjutnya akan mempengaruhi tingkah laku belanja konsumen. terdapat beberapa media tradisional ikian: di televisi, dalam surat kabar, pada sisi badan bus, sepeda motor, melalui pemasaran langsung lewat telepon, dan lain sebagainya. internet dan web masih merupakan sesuatu yang baru bagi banyak perusahaan sehingga mereka hanya mempunyai gagasan yang samar-samar tentang kelebihan dan keterbatasan berikilan media ini. hasil dan penelitian terdahulu melaporkan adanya pengaruh positif unsur informasi dan menghibur terhadap nilai iklan pada internet, sedangkan unsur mengganggu berpengaruh negative pada nilai iklan sedangkan nilai iklan akan mempengaruhi perilaku terhadap iklan di internet disamping unsur menghibur yang mempengaruhi secara langsung pada variable perilaku terhadap iklan. penelitian ini berniat untuk melihat efek menghibur, mengganggu dan informasi dan sebuah dari sebuah iklan di internet di jakarta terhadap nilai iklan tersebut untuk melihat lebih lanjut lagi perilaku konsumen atas iklan di internet. pokok permasalahan dalam penelitian ini ialah meneliti apakah terdapat hubungan antara entertainment, informativeness, dan irritation dengan advertising values dan apakah terdapat hubungan antara entertainment dan advertising values dengan attitude towards web advertising. penelitian bertujuan untuk mengetahui variabel yang diperlukan untuk memajukan toko maya di internet, mencari saja yang mempengaruhi periklanan di web site, dan untuk mengetahui bagaimana hubungan antar variable yang diperlukan dalam periklanan di internet. keterbatasan dalam penelitian ini ialah responden yang diambil hanya mencakup mahasiswa di universitas pancasila yang meliputi fakultas ekonomi, komunikasi dan psikologi. selain itu pelanggan jarang mendapatkan informasi yang sempurna tentang pasar, dan oleh sebab itu mereka harus berusaha mendapatkan informasi yang diperlukan. informasi ini mengalir ke pelanggan potensial terutama melalui kegiatan komunikasi pemasaran (marketing communications). pengaruh entertainment,..... (edy supriyadi; lies putriana) 181 definisi komunikasi menurut shimp (2000:4) adalah “communication is the process whereby thoughts are conveyed and meaning is shared between individuals or between organizations and individuals”. menurut kohl & jaworski (dikutip dari ducoffe, 1996:22) yang dimaksud dengan advertising value adalah “advertising value is thus understood as an overall representation of the worth of advertising to consumers”. dari definisi tersebut terlihat bahwa advertising value adalah persepsi konsumen mengenai suatu advertising, jadi penekanannya adalah dari sisi konsumen. persepsi memainkan peranan yang penting dalam advertising value. dengan mengetahui persepsi dari konsumen, maka akan mudah bagi marketer untuk memformulasikan strategi komunikasi. adapun proses sebagaimana diungkapkan oleh belch & belch (1995:105) adalah (1) how consumers sense external information, (2) how they select and attend to various sources to information, and (3) how this information is interpreted and given meaning. persepsi merupakan suatu proses individu, oleh karena itu persepsi sangat dipengaruhi oleh faktorfaktor internal, misalnya: kepercayaan, pengalaman, kebutuhan, suasana hati dan ekspektasi. selain faktor internal, karakteristik dari obyek juga berpengaruh, seperti ukuran, warna dan intensitas. ada 3 faktor yang merupakan titik tolak untuk menjelaskan bagaimana konsumen menafsirkan nilai dari suatu advertising, yaitu: informativeness, entertainment dan irritation. entertainment: secara umum memang banyak advertising yang sifatnya memberikan hiburan sambil menyisipkan informasi-informasi. banyak advertising yang mennggunakan lagu-lagu yang sedang populer atau menggunakan artis yang terkenal sebagai bintang iklan. menurut mcquail dalam ducoffe (1996:23), suatu advertising bisa dikatakan memberikan hiburan jika “able to fulfill audience needs for escapism, diversion, aesthetic enjoyment, or emotional release”. informativeness; dalam penelitian yang dilakukan oleh ducoffe (1996:22) mengenai advertising value, informativeness berarti ‘the ability of advertising to inform consumer of product alternatives so that purchases yielding greatest possible satisfaction can be made”. kemampuan advertising untuk menyediakan informasi adalah hakekat dari sebuah advertising. irritation; kasus penipuan melalui iklan juga banyak terjadi, misalnya advertising yang bersifat undian. selain itu kasus penipuan dimana produk yang diiklankan tidak sesuai dengan kenyataan. ada juga yang mengeksploitasi anak-anak dan wanita. banyak iklan dikritik karena menggunakan wanita sebagal obyek seksual, erotisme dijadikan daya tarik iklan. untuk indonesia yang lekat dengan budaya timur lembaga sensor iklan lebih ketat terhadap iklan-ikian yang erotis. advertising dikatakan mengganggu jika “employs techniques that annoy offend, insult, overly manipulative.” (ducoffe, 1996:23). sikap terhadap iklan sikap juga dikatakan sebagai respon, hal itu berarti bahwa respon sikap hanya akan timbul apabila individu dihadapkan pada suatu stimulus yang menghendaki timbulnya reaksi individual yang nantinya akan memberi kesimpulan nilai terhadap stimulus tersebut dalam bentuk baik atau buruk, suka atau duka dan sebagainya. beberapa tahap dalam penyampaian iklan adalah tahap kognitif dan tahap afektif. tahap kognitif dimana seseorang yang belum pernah melihat, mendengar tentang suatu produk dikatakan dalam keadaan tidak sadar akan adanya produk (kinnear dan taylor, 1996). tahap afektif merupakan tahap dimana dan hasil pemahaman, seseorang membuat penilaian suka-tidak suka, senang-benci, merupakan perasaan atau emosi seseorang terhadap stimulus. schiffman dan kanuk (2000:203) mengatakan bahwa “a consumer’s emotions or feelings about a particular product or brand constitute the effective component of an attitude”. pengiklan pada tahap ini harus membangun kepercayaan terhadap produk tersebut. khalayak memerlukan informasi yang diberikan didasari atas fakta atau 182 journal the winners, vol. 11 no. 2, september 2010: 179-187 sumber yang terpercaya dan informasi tersebut tidak meragukan. pengiklan dalam tahap ini mencoba mempengaruhi dan berusaha merubah sikap khalayak. metodologi metode yang digunakan dalam penelitian ini adalah analisis korelasional, untuk melihat hubungan antara informativeness dengan advertising value; entertainment, dengan advertising value; dan irritation dengan advertising value. selain itu juga meneliti hubungan antara informativeness, entertainment dan irritation sebagai variabel bebas (independent variable), dengan advertising value sebagai variabel tak bebas (dependent variable). setelah itu diteliti pula hubungan antara informativeness dengan attitude towards web advertising; entertainment dengan attitude towards web advertising; irritation dengan attitude towards web advertising; dan advertising value dengan attitude towards web advertising. sehubungan dengan itu diteliti pula hubungan antara informativeness, entertainment, irritation, advertising value sebagai variabel bebas (independent variable), dengan attitude towards web advertising sebagai variabel tak bebas (dependent variable). hasil dan pembahasan sampel dan data penarikan sample penelitian dilakukan dengan menggunakan metode purposive sampling (non probability) yang diambil dari populasi mahasiswa universitas pancasila yang terdiri dari 6 fakultas yaitu fakultas ekonomi, komunikasi dan psikologi; dan dari populasi tersebut diperoleh jumlah sample sesuai rumus slovin dengan standard error 5%. jumlah mi didapat berdasar teori slovin yaitu: ))(1( 2en n n + = di mana: n = jumlah sample, n = jumlah populasi, e = derajat kesalahan yang masih dapat ditoleransi. analisis data data yang telah dihimpun akan digunakan untuk menguji hipotesis penelitian dengan menggunakan analisa sem(struktural equation modelling) dengan menggunakan software amos 3.6 (analysis of movement structure). uji instrumen uji reliabilitas dan uji validitas untuk melihat keabsahan data sebelum diproses untuk menganalisis data sesuai dengan permasalahan. software yang digunakan adalah spss dengan mengguakan metode alpha cronbach. pengaruh entertainment,..... (edy supriyadi; lies putriana) 183 hipotesis : − entertainment, informativeness dan irritation berkontribusi secara simultan dan signifikan terhadap advertising value. − entertainment, informativeness, irritation dan advertising value berkontribusi secara simultan dan signifikan terhadap advertising value. hipotesis statistik secara simultan: h0 : entertainment, informativeness dan irritation tidak berkontribusi secara simultan dan signifikan terhadap advertising value. ha : entertainment, informativeness dan irritation berkontribusi secara simultan dan signifikan terhadap advertising value. h0 : entertainment, informativeness, irritation dan advertising value tidak berkontribusi secara simultan dan signifikan terhadap attitude web. ha : entertainment, informativeness, irritation dan advertising value berkontribusi secara simultan dan signifikan terhadap attitude web. hipotesis statistik secara individu: struktur -1: h0 : entertainment tidak berkontribusi secara signifikan terhadap advertising value. ha : entertainment berkontribusi secara signifikan terhadap advertising value. h0 : informativeness tidak berkontribusi secara signifikan terhadap advertising value. ha : informativeness berkontribusi secara signifikan terhadap advertising value. h0 : irritation tidak berkontribusi secara signifikan terhadap advertising value. ha : irritation berkontribusi secara signifikan terhadap advertising value. struktur-2: h0 : entertainment tidak berkontribusi secara signifikan terhadap attitude towards web advertising. ha : entertainment berkontribusi secara signifikan terhadap attitude toward web advertising value. h0 : informativeness tidak berkontribusi secara signifikan terhadap attitude toward web adv. ha : informativeness berkontribusi secara signifikan terhadap attitude toward web advertising value h0 : irritation tidak berkontribusi secara signifikan terhadap attitude toward web adv ha : irritation berkontribusi secara signifikan terhadap attitude toward web advertising value h0 : advertising values tidak berkontribusi secara signifikan terhadap attitude toward web adv ha : advertising values berkontribusi secara signifikan terhadap attitude toward web advertising value 184 journal the winners, vol. 11 no. 2, september 2010: 179-187 analisa data gambar 1 skema hubungan antara informativeness, entertainment, irritation dan advertising value hipotesis statistik secara simultan : h0 : entertainment, informativeness dan irritation tidak berkontribusi secara simultan dan signifikan terhadap advertising value ha : entertainment, informativeness dan irritation berkontribusi secara simultan dan signifikan terhadap advertising value tabel 1 anova uji statistik model 1 174.400 3 58.133 13.788 .000a 185.516 44 4.216 359.917 47 regression residual total model 1 sum of squares df mean square f sig. predictors: (constant), tot_b, tot_c, tot_aa. dependent variable: tot_db. dari tabel 1 diperoleh nilai f model 1 sebesar 13.788 dengan nilai probabilitas sig. = 0.000. karena nilai sig < 0.05, maka keputusannya adalah h0 ditolak dan sebab itu, pengujian secara individual dapat dilanjutkan. h0 : entertainment, informativeness, irritation dan advertising value tidak berkontribusi secara simultan dan signifikan terhadap attitude web ha : entertainment, informativeness, irritation dan advertising value berkontribusi secara simultan dan signifikan terhadap attitude web pengaruh entertainment,..... (edy supriyadi; lies putriana) 185 tabel 2 anova uji statistik model 2 561.770 4 140.443 42.970 .000a 140.542 43 3.268 702.312 47 regression residual total model 1 sum of squares df mean square f sig. predictors: (constant), adv.value, irritation, entertainment, informativeness a. dependent variable: attitudeb. dari tabel 2 diperoleh nilai f model 2 sebesar 42.970 dengan nilai probabilitas sig. = 0.000. karena nilai sig < 0.05, maka keputusannya adalah h0 ditolak dan sebab itu, pengujian secara individual dapat dilanjutkan. hipotesis statistik secara individu: tabel 3 koefisien struktur 1 7.781 2.071 3.756 .001 -6.74e-02 .107 -.071 -.632 .531 .109 .197 .140 .553 .583 .379 .174 .546 2.182 .035 (constant) tot_c tot_a tot_b model 1 b std. error unstandardized coefficients beta standardi zed coefficien ts t sig. dependent variable: tot_da. struktur -1: h0 : entertainment tidak berkontribusi secara signifikan terhadap advertising value ha : entertainment berkontribusi secara signifikan terhadap advertising value terlihat bahwa pada tabel kolom signifikan pada tabel 3 di atas coefficients model 1 diperoleh nilai sig. 0.531 dan ini lebih besar dari 0,05 maka dapat disimpulkan bahwa ho diterima dan ha ditolak artinya koefisien analisis jalur adalah tidak signifikan. jadi entertainment tidak berkontribusi secara signifikan terhadap advertising value. h0 : informativeness tidak berkontribusi secara signifikan terhadap advertising value ha : informativeness berkontribusi secara signifikan terhadap advertising value terlihat bahwa pada tabel kolom signifikan pada tabel 3 di atas coefficients model 1 diperoleh nilai sig. 0.583 dan ini lebih besar dari 0,05 maka dapat disimpulkan bahwa h0 diterima dan ha ditolak artinya koefisien analisis jalur adalah tidak signifikan. jadi informativeness tidak berkontribusi secara signifikan terhadap advertising value. h0 : irrtitation tidak berkontribusi secara signifikan terhadap advertising value ha : irrtitation berkontribusi secara signifikan terhadap advertising value 186 journal the winners, vol. 11 no. 2, september 2010: 179-187 terlihat bahwa pada tabel kolom signifikan pada tabel anova di atas coefficients model 1 doperoleh nilai sig. 0.035 dan ini lebih kecil dari 0,05 maka dapat disimpulkan bahwa h0 ditolak dan ha diterima artinya koefisien analisis jalur adalah berpengaruh secara signifikan. jadi informativeness berkontribusi secara signifikan terhadap advertising value. tabel 4 koefisien struktur 2 3.427 2.096 1.635 .109 .222 .174 .205 1.278 .208 .181 5.523 .347 .161 .358 2.154 .037 .169 5.922 -.263 .094 -.199 -2.787 .008 .910 1.099 .470 .133 .337 3.543 .001 .515 1.940 (constant) entertainmen informativene irritation adv.value model 1 b std. error unstandardized coefficients beta standardi zed coefficien ts t sig. tolerance vif collinearity statistics dependent variable: attitudea. h0 : entertainment tidak berkontribusi secara signifikan terhadap attitude toward web adv ha : entertainment berkontribusi secara signifikan terhadap attitude toward web advertising value terlihat bahwa pada tabel kolom signifikan pada tabel 4 coefficients model 1 diperoleh nilai sig. 0.208 dan ini lebih besar dari 0,05 maka dapat disimpulkan bahwa h0 diterima dan ha ditolak. dapat disimpulkan bahwa entertainment tidak berkontribusi secara signifikan terhadap attitude toward web advertising. h0 : informativeness tidak berkontribusi secara signifikan terhadap attitude toward web advertising ha : informativeness berkontribusi secara signifikan terhadap attitude toward web advertising terlihat bahwa pada tabel kolom signifikan pada tabel anova di atas coefficients model 1 doperoleh nilai sig. 0.037 dan ini lebih kecil dari 0,05 maka dapat disimpulkan bahwa h0 ditolak dan ha diterima. dapat disimpulkan bahwa informativeness berkontribusi secara signifikan terhadap attitude toward web advertising. h0 : irritation tidak berkontribusi secara signifikan terhadap attitude toward web advertising ha : irritation berkontribusi secara signifikan terhadap attitude toward web advertising terlihat bahwa pada tabel kolom signifikan pada tabel anova di atas coefficients model 1 doperoleh nilai sig. 0.008 dan ini lebih kecil dari 0,05 maka dapat disimpulkan bahwa h0 ditolak dan ha diterima. dapat disimpulkan bahwa irritation berkontribusi secara signifikan terhadap attitude toward web advertising. h0 : advertising values tidak berkontribusi secara signifikan terhadap attitude toward web advertising ha : advertising values berkontribusi secara signifikan terhadap attitude toward web advertising terlihat bahwa pada tabel kolom signifikan pada tabel anova di atas coefficients model 1 doperoleh nilai sig. 0.001 dan ini lebih kecil dari 0,05 maka dapat disimpulkan bahwa h0 ditolak dan ha diterima. dapat disimpulkan bahwa advertising values berkontribusi secara signifikan terhadap attitude toward web advertising. pengaruh entertainment,..... (edy supriyadi; lies putriana) 187 simpulan terkait dengan hipotesis pertama berbunyi “entertainment, informativeness dan irritation berkontribusi secara simultan dan signifikan terhadap advertising value” ditemukan bahwa tidak semua variabel yang diterima, karena berdasarkan pengujian koefisien jalur sub struktur-1 hanya koefisien jalur irritation yang signifikan terhadap advertising value, sedangkan variable entertainment dan informativeness secara statistik tidak signifikan. dengan demikian hasil temuan analisis ini memberikan informasi, bahwa irritation memberikan kontribusi secara signifikan terhadap advertising value. besarnya kontribusi informativeness tersebut terhadap advertising value sebesar 0.5462 x 100% = 29%, dan sisanya 71% merupakan kontribusi dari variabel lain. terkait hipotesis yang berbunyi “entertainment, informativeness, irritation, dan advertising value berkontribusi secara simultan dan signifikan terhadap attitude toward web advertising” ditemukan bahwa tidak semua variabel yang diterima, karena berdasarkan pengujian koefisien jalur sub struktur-2 hanya koefisien jalur informativeness, irritation, dan advertising value yang signifikan terhadap attitude toward web advertising, sedangkan variabel entertainment secara statistik tidak signifikan. dengan demikian hasil temuan analisis ini memberikan informasi bahwa variabel informativeness, irritation, dan advertising value memberikan kontribusi secara signifikan terhadap advertising value. besarnya kontribusi informativeness terhadap attitude towards web advertising sebesar 0.3582x100% = 12.81%, besarnya kontribusi irritation terhadap attitude towards web advertising sebesar -0.1992x100% = -3.9%, dan besarnya kontribusi advertising value terhadap attitude towards web advertising sebesar 0.3372x100% = 11.35%. saran untuk penelitian berikutnya adalah memperbanyak jumlah sampel agar hasil lebih akurat, melihat kembali factor yang dominan pada indikator-indikator masing-masing variabel yang mempengaruhi advertising value dan attitude towards web advertising, dan juga membandingkan antar karakteristik responden untuk melihat pada kelompok yang mana dapat menunjang teori periklanan di web site. daftar pustaka belch, e george & belch, michael e.introducing to advertising & promotion: an integrated marketing communications perspective (3rd ed.). chicago: irwin, 1995. p. 202-205 ducoffe, rh (1996). advertising value and advertising on the web. j. advertising res. 36(5): 21-35. heise, d. r. (1969). problems in path analysis and causal influence in e. f. borgatta (ed.), sociological methodology (pp. 38-73). san francisco: jossey bass. kinnear, t. c., & taylor, j. r. (1996). marketing research an applied approach 5th edition. mcgraw-hill. schiffman, l. g., dan kanuk, l.l. (2000), consumer behavior, 7th ed., prentice hall: international shimp, t, a, (2000) advertising promotion: supplemental aspects of integrated marketing communications (5th ed.). florida: the dryden press. microsoft word 06_endang nuryadin_optimalisasi cross selling.doc upaya meningkatkan pendapatan bank… (endang nuryadin) 47 upaya meningkatkan pendapatan bank melalui optimalisasi cross selling terhadap pelanggan endang nuryadin1 abstract the article explores some efforts to generate bank’s income by optimalizing cross selling for is existing customers. after explaining background and clarifying that terminologies the paper starts with efforts and constraints of cross selling optimalization, those problem solutions, and how to promote the bank products. keywords: cros selling, bank income, existing customer abstrak artikel menjelaskan beberapa upaya yang dilakukan bank untuk mendapatkan income dengan jalan penjualan lebih dari satu produknya (cross selling) terhadap nasabahnya. penjelasan dimulai dengan latar belakang, penjelasan istilah, uraian upaya dan kendala alternatif pemecahan masalah, dan bagaimana mempromosikan cross selling. kata kunci: cross selling, pendapatan bank, nasabah 1 staf peneliti lipi, jakarta & staf pengajar fakultas ekonomi, ubinus, jakarta journal the winners, vol. 2 no. 1, maret 2001: 47-54 48 pendahuluan bank sebagaimana layaknya perusahaan selalu berusaha menghasilkan pendapatan seperti yang diharapkan bahwa profitability is the soverign creterion of the enterprise. untuk itu, bank harus mengupayakan agar pendapatan yang dihasilkan dapat menutup biaya yang dikeluarkan. hal itu sangat penting bagi kelangsungan usahanya. apalagi, bisnis bank adalah bisnis kepercayaan (trust). jika bank beroperasi sampai merugi akan dapat menghilangkan unsur kepercayaan sehingga akan menyulitkan bank tersebut untuk berkembang. kondisi perbankan nasional sekarang masih dalam keadaan sulit, sebagai kelanjutan dari kondisi perekonomian yang terus memburuk. bank swasta atau bank pemerintah sekarang pada umumnya sudah tidak ada yang lebih baik lagi satu dari yang lainnya. semuanya menghadapi permasalahan hampir sama, seperti kredit bermasalah (nonperforming loan), negative spread, ketatnya likuiditas, menurunnya car (dialami bii, bank universal pada saat ini) serta rentabilitas yang cenderung merugi. mengatasi pendapatan yang terus merugi akibat menurunnya pendapatan dari bunga kredit, bank harus berupaya menciptakan peluang agar menghasilkan pendapatan dengan memanfaatkan sumber yang ada karena bagaimanapun usaha bank tersebut harus terus berjalan. apalagi kondisi sekarang menunjukan bahan sangat sedikit sekali bank yang melakukan ekspansi kredit baru karena belum membaiknya sektor riil, stabilitas keamanan dan politik belum terjamin, suku bunga kredit yang tinggi serta disibukannya bank dengan upaya penyelamatan, dan permasalahan kredit bermasalah (seperti, contoh pinjaman sinar mas group pada bii yang terpaksa di bail out bppn). menghadapi kondisi tersebut, permasalahan yang dihadapi pelaku bisnis perbankan ialah berupaya agar keluar atau paling tidak mengurangi beban berat yang dihadapi sekarang, yaitu upaya yang dapat dilakukan bank untuk menghasilkan pendapatan dengan sumber yang telah ada. tujuan penulisan untuk melihat sejauh mana pendapatan bank dapat ditingkatkan melalui optimalisasi cross selling yang masih memungkinkan terhadap pelanggan yang ada serta memberikan masukan kepada bagian terkait atau pelaku bisnis perbankan lain untuk menangkap peluang yang ada kemudian dicoba untuk diimplementasikan. batasan penulisan agar lebih memfokuskan permasalahan yang dibahas terbatas pada nasabah perorangan (individu) bukan perusahaan/corporate. metode penelitian adalah riset langsung ke unit kerja pada bank, yaitu bagian kartu kredit dan bagian dana. dilakukan pula studi pustaka berupa pemilihan literature yang berhubungan dengan judul tulisan. pembahasan secara umum produk yang dikelola bank sebagai berikut. 1. produk dana produk dana adalah upaya bank untuk mengumpulkan dana masyarakat. secara garis besar terdiri dari giro, tabungan, dan deposito. upaya meningkatkan pendapatan bank… (endang nuryadin) 49 2. produk perkreditan produk sebagai upaya bank untuk menyalurkan dana kepada pihak yang memerlukan. secara umum, terdiri dari kredit modal kerja, kredit investasi, bank garansi, l/c serta credit card. 3. produk jasa layanan (services product) secara umum, produk jasa layanan, yaitu transfer, inkaso, giralisasi, safe deposit box, atm, dan lain–lain. pendapatan operasional bank dapat dikelompokkan sebagai berikut. a. pendapatan bunga (interest income), yaitu pendapatan bunga yang berasal dari dana yang disalurkan ke debitur, yaitu bunga kredit, bunga money market. b. fee based income, yaitu pendapatan berupa konisi atau fee dari kegiatan (fee business) dengan mengandalkan pelayanan atau jasa. cross selling merupakan penjualan lebih dari satu macam produk bank kepada satu nasabah. dalam industri perbankan, penjualan beberapa produk kepada nasabah tertentu merupakan hal yang terus menerus diusahakan dan tidak boleh diabaikan. cross selling merupakan kegiatan yang sangat penting dan dianggap faktor kunci dalam mempertahankan dan meningkatkan pangsa pasar yang tujuan akhirnya meningkatkan pendapatan bank. melalui cross selling dapat dijalin hubungan antara bank dengan nasabah harus yang bersifat sejajar (the parallel style) karena sifat hubungan itu saling menerima dan memberi sehingga dapat bersama–sama memecahkan masalah. intinya, konsep cross selling ditujukan agar nasabah tergantung dengan bank dan pihak bank sendiri dituntut untuk cepat tanggap dalam memenuhi kebutuhan nasabah. ada yang menarik dari produk perbankan dalam upaya optimalisasi cross selling. produk perbankan kalau diperhatikan antara satu produk dengan produk lainnya ada keterkaitan (related product). secara garis besar, related product bank untuk dilakukan cross selling dapat dilihat pada gambar berikut. berdasarkan gambar dapat dilihat nasabah yang membuka deposito ditawarkan adalah 9 produk bank lainya. journal the winners, vol. 2 no. 1, maret 2001: 47-54 50 gambar 1 skema cross selling product funding upaya dan kendala optimalisasi cross selling existing customer upaya pelaku bisnis perbankan, diantaranya optimalisasi cross selling yang dilakukan sebelumnya banyak dilakukan kepada nasabah kredit (debitur). hal itu dilakukan karena setiap debitur account officer (ao) yang membinanya sehingga pengembangan portofolio kredit termasuk cross selling merupakan tanggung jawab supervisor dan merupakan individual target bagi ao. kendala yang dihadapi bank antara lain sebagai berikut. 1. semakin bertambahnya organisasi dan tuntutan terhadap efisiensi mendorong terjadinya spesialisasi dan menciptakan para spesialis. dampak adanya spesialisasi antara lain, tiap produk bank cenderung dikelola setiap unit yang terpisah. akibatnya, petugas bank menjadi upaya meningkatkan pendapatan bank… (endang nuryadin) 51 terfokus pada target bidang produk yang dikelola masing–masing sehingga tidak mendorong melakukan cross selling. 2. product knowledge aparat masih cukup terbatas. 3. nasabah bukan debitur, penabung/deposan selama ini banyak bertuan (tidak dikelola ao) sehingga tidak ada pihak yang bertugas memaksimalkan cross selling. alternatif pemecahan masalah sebagai ilustrasi, sebelum memberikan alternatif pemecahannya, contoh cross selling dapat meningkatkan pendapatan cabang bank sebagai berikut. sebelum cross selling u nasabah deposito : rp 100.000.000,00 u asumsi bunga deposito : 14% p.a. u asumsi suku bunga rak : 16% p.a keuntungan cabang untuk satu bulan sebagai berikut. u pendapatan : rp 100.000.000,x 16% x 1/12 x 95% : rp 1.266.667,00 u biaya : rp 100.000.000,x 14 % x 14% x 1/12 : rp 1.166.667,00 ------------------- u laba rp 100.000,00 setelah dilakukan cross selling (asumsi nasabah deposan mendapat kartu kredit dengan batas kredit rp 5.000.000,00 bulan pertama melakukan pembelanjaan sebesar rp1000.000,00 dan meng-roll over pinjamannya maka pendapatan cabang menjadi sebagai berikut. u pendapatan sebelum cross selling : rp 100.000,00 u pendapatan annual fee : rp 50.000,00 u discount merchant (2,5% x rp 1.000.000,00) : rp 25.000,00 u pendapatan bunga kartu kredit (rp1.000.000,00 x 2,75%) : rp 27.500,00 u pendapatan bank dari satu nasabah deposito tersebut : rp 202.500,00 pendapatan dari satu nasabah tersebut akan lebih meningkat apabila menikmati produk bank lainnya, seperti atm, giralisasi, safe deposito box, dan lain–lain. cross selling disamping meningkatkan pendapatan bank juga akan memepererat hubungan bank dengan nasabah. contoh, produk tidak dinikmati nasabah. akan tetapi, produk lain masih ada yang dinikmati. nasabah yang hanya memiliki satu produk dan tidak dilakukan cross selling maka apabila produk tersebut ditutup, nasabah akan putus hubungannya dengan bank. kondisi persaingan yang cukup tajam saat ini tidak mudah mengharapkan nasabah kembali. upaya untuk mengoptimalkan cross selling sebagai berikut. 1. pengelolaan data nasabah (customer based) dari customer based data yang ada agar dikelola dengan baik karena data ini merupakan kunci bank untuk mengetahui nasabahnya. customer based akan bermanfaat bagi bank untuk journal the winners, vol. 2 no. 1, maret 2001: 47-54 52 mempertahankan dan mengembangkan existing customer-nya. pengelolaan data nasabah misalnya, dilakukan inventarisasi nasabah yang masih potensial untuk dikembangkan, dapat berasal dari deposan, penabung, girant, card holder, dan lain–lain. masing–masing dibuatkan kriteria sehingga menjadi target market cross selling. 2. kerja sama dan koordinasi antarunit kerja mengingat setiap produk dikelola oleh unit kerja yang berbeda, untuk mengatasi perbedaan kepentingan perlu dilakukan kerjasama antarsupervisi, antarunit kerja dengan koordinasi manajemen (pimpinan). pada tingkat cabang dapat dikoordinir pimpinan cabang sedangkan urusan divisi dapat dikoordinir direksi. 3. menetapkan account officer pembina setelah existing customer ditetapkan sebagai target market untuk cross selling juga ditetapkan. selanjutnya, ditetapkan ao pembina terutama untuk nasabah dari sisi pasiva bank, seperti deposan, penabung, staf ao dapat berasal dari aparat operasional maupun aparat marketing yang ditunjuk melalui surat penugasan. hal itu diperlukan agar ao pembina lebih bertanggung jawab dalam melakukan cross selling. konsekuensinya, menambah pekerjaan bagi aparat yang ditunjuk. akan tetapi, keberhasilan petugas akan diperhitungkan sebagai reward yang akan memotivasi petugas. 4. goal setting ao pembina kemudian diberikan goal setting dalam rangka memotivasi kerjanya. goal setting dapat dilakukan setiap bulan agar memudahkan supervisi untuk memonitoring keberhasilan cross selling. 5. program sentralisasi program yang dilakukan kantor pusat bank untuk memotivasi cabang untuk mengoptimalkan cross selling seperti program bulan dana dengan memberikan insentif untuk karyawan/cabang yang berprestasi. 6. sarana dan prasarana technology support, penggunaan sistem teknologi informasi data nasabah yang baik dan informatif banyak menunjang dalam kegiatan cross selling. sebagai ilustrasi, dalam sistem komputer dapat dilihat beberapa produk yang dinikmati atau belum dinikmati. investasi sistem itu memakai biaya yang tidak sedikit. a. promosi promosi atas produk yang akan dilakukan cross selling sangat banyak membantu. permasalahannya, biaya promosi cukup tinggi apalagi dengan iklan. promosi yang efektif dan cukup murah adalah personal selling, (ao) pembina dapat melakukan call visit (kontak langsung) karena dengan cara itu ao dapat menggali kebutuhan nasabah. cabang dapat membuat perencanaan jadwal call visit untuk setiap existing customer yang menjadi target market. promosi juga dapat dilakukan dengan brosur. upaya meningkatkan pendapatan bank… (endang nuryadin) 53 b. training produk knowledge melakukan pelatihan secara berkesinambungan dapat meningkatkan pemahaman product knowledge sehingga dapat memudahkan karyawan melakukan cross selling. pelatihan ilmu menjual (salesmanship) baik dilakukan. training itu tidak hanya dilakukan kepada unit marketing tetapi juga kepada unit operasi sehingga tertanam konsep total marketing yang mengatakan bahwa setiap orang adalah penjual (everyone is salesperson). c. pembuatan manual cross selling manual cross selling agar dibuat secara sederhana, dibakukan, dan ditempatkan pada setiap meja karyawan sehingga memudahkan pemahaman tampilan dan keuntungan produk. dengan demikian, hal itu dapat meningkatkan karyawan dalam melaksanakan kegiatan cross selling. sebagai contoh adalah produk deposito berjangka. 7. referensi referensi pelanggan yang ada sangat diperlukan untuk meningkatkan cross selling. banyak salesman, perusahaan dalam meningkatkan penjualan dengan meminta referensi dari existing customer-nya. upayakan dalam setiap mengakhiri pertemuan (call) dengan nasabah meminta referensi calon nasabah. 8. inovasi produk dengan melakukan inovasi produk secara terus-menerus dapat memenuhi kebutuhan nasabah yang selalu berubah akan cukup efektif sehingga nasabah akan terpenuhi kebutuhannya cukup pada bank tertentu saja. penutup simpulan 1. kondisi perbankan sekarang dilanda masalah rentabilitas menurun yang disebabkan oleh meningkatnya non performing loan (npl). perbankan disibukan dengan upaya penyelamatan dan penyelesaian kredit bermasalah sedangkan ekspansi kredit belum banyak dilakukan karena belum membaiknya sektor rill, stabilitas politik, dan keamanan. kegiatan yang dilakukan agar tetap survive adalah funding, menjaga likuiditas, penempatan pada sbi, menekan cost (efisiensi biaya), serta menciptakan income dari produk di luar perkreditan. 2. salah satu upaya untuk menciptakan income pada kondisi krisis adalah dengan memberdayakan sumber (existing customer) dan menawarkan produk yang masih memungkinkan untuk dijual. dengan demikian, pendapatan bank akan bertambah dan mempererat hubungan antara bank dan nasabah. 3. melakukan penjualan produk kedua, ketiga, dan seterusnya kepada existing customer yang sudah menikmati produk pertama akan lebih mudah dilakukan, apalagi produk bank sifatnya adalah saling berkaitan (related product). 4. upaya optimalisasi cross selling dapat dilakukan dengan pengolahan data nasabah (customer based), kerja sama antarunit kerja/bagian, menetapkan acount officer pembina, goal selling program secara sentralisasi, sarana dan prasarana pendukung, dalam hal ini komputerisasi dioptimalkan, serta memanfaatkan referensi dari nasabah. journal the winners, vol. 2 no. 1, maret 2001: 47-54 54 saran 1. pengadaan unit kerja khusus yang berfungsi melakukan koordinasi dalam rangka membuat kebijakan, monitoring, dan reporting dalam masalah cross selling dan unit kerja dapat di bawah urusan. 2. system reporting dari komputerisasi agar lebih dioptimalkan penggunaanya sehingga memudahkan aparat dalam memperoleh informasi terbaru data static nasabah. daftar pustaka morgan, bruce. 1994. foundation of relationship banking. laffert publications ltd. ritter, dwight s. 1993. a handbook of cross selling: optimalisasi financial services relationship. lafferty publications ltd. hands out (diktat bank duta) odp xv, 1998. majalah bank dan manajemen. majalah info bank. microsoft word 08_soekarso_setting.doc 156 journal the winners, vol. 10 no. 2, september 2009: 156-163 hubungan analisis ratio keuangan dengan kesehatan perusahaan soekarso jurusan manajemen, fakultas ekonomi dan bisnis, universitas bina nusantara, jln. k.h. syahdan no. 9, palmerah, jakarta barat 11480 soekarso@binus.ac.id abstract in the business world, companies develop a vision and mission to improve welfare in the future. the work program the company is to achieve productivity and profitability. finance in the company is one of the strategic functions that includes wealth management and transformation of added value (added value) and also the control of corporate health. the financial statements such as balance sheet (balance sheet), profit and loss statement (income statement), and financial ratio (financial ratios), reflects the company's performance and health. financial ratio analysis relates to the health of the company through a ratio of effectiveness, efficiency, productivity, profitability, liquidity, and solvability. analysis shows that whenever actual value of financial ratios is above standard it means the company is healthy, and when the actual value of financial ratios is below the standard, it reversely means that companies are not healthy. keywords: finance, financial ratio analysis, company health abstrak dalam dunia usaha, perusahaan membangun visi dan misi untuk meningkatkan kesejahteraan di masa yang akan datang. program kerja perusahaan adalah untuk mencapai produktivitas dan profitabilitas. keuangan dalam perusahaan adalah salah satu fungsi strategis yang meliputi pengelolaan kekayaan dan transformasi nilai tambah (added value) dan juga pengendalian kesehatan perusahaan. laporan keuangan seperti neraca (balance sheet), daftar rugi laba (income statement), dan rasio keuangan (financial ratio), mencerminkan kinerja dan kondisi kesehatan perusahaan. analisis rasio keuangan (financial ratio analysis) berhubungan dengan kesehatan perusahaan melalui rasio-rasio efektivitas, efisiensi, produktivitas, rentabilitas, likuiditas, dan solvabilitas. analisis menunjukkan bahwa nilai rasio keuangan aktual di atas standar berarti perusahaan sehat, dan nilai rasio keuangan aktual di bawah standar berarti perusahaan tidak sehat. kata kunci: keuangan, analisis rasio keuangan, kesehatan perusahaan risk based internal auditing .....(choirul anwar) 157 pendahuluan dalam dunia usaha organisasi atau perusahaan membangun visi dan misi masa depan yang lebih baik dalam kesejahteraan. berbasis perubahan (change) dan kewirausahaan (entrepreneurship), perusahaan merancang program kerja dalam menjalankan usahanya untuk mencapai produktivitas dan profitabilitas secara efektif dan efisien. perusahaan mengelola sumber daya 6 m (men, money, materials, machines, methods, markets) melalui poac (planning, organizing, actuating, controlling) untuk menciptakan produk yang menghasilkan nilai tambah (added value). keuangan dalam perusahaan merupakan salah satu fungsi yang strategis karena fungsi keuangan mencakup seluruh aspek peneglolaan kekayaan perusahaan, transformasi nilai tambah (added value), pengendalian kesehatan perusahaan, dan sasarannya adalah memaksimalisasikan kekayaan atau nilai perusahaan. dengan demikian, setiap transaksi dan gerak langkah kegiatan usaha mengandung nilai uang. pada kenyataannya, hal ini menunjukkan bahwa banyak di antara perusahaan yang menjalankan usahanya dapat berhasil mencapai tujuan dan begitu pula tidak sedikit terdapat kasus salah urus (mis-management) yang mengganggu stabilitas kelangsungan hidup perusahaan. perusahaan yang berhasil mencapai tujuan sudah barang tentu didukung oleh kekuatan sumber daya keuangan yang tangguh, dan sebaliknya perusahaan yang tidak berhasil mencapai tujuan biasanya terlibat masalah-masalah likuiditas keuangan. analisis keuangan (financial analysis) menghasilkan laporan dalam bentuk neraca (balance sheet) yang mencerminkan posisi keuangan pada suatu akhir periode, daftar rugi laba (income statement) yang menunjukkan prestasi keuangan selama suatu periode tertentu, dan analisis rasio keuangan (financial ratio analysis) yang menunjukkan kinerja dan kesehatan perusahaan. tingkat kesehatan perusahaan dapat dipantau melalui pengukuran dan evaluasi terhadap produktivitas dan profitabilitas secara terus menerus, di mana produktivitas memberikan informasi tentang masalah internal, sedangkan profitabilitas memberikan informasi tentang masalah eksternal. analisis rasio keuangan (financial ratio analysis) berhubungan dengan kesehatan perusahaan melalui rasio-rasio efektivitas, efisiensi, produktivitas, rentabilitas, likuiditas, dan solvabelitas. berdasarkan uraian di atas, perumusan masalah yang diangkat dalam tulisan ini adalah bagaimana hubungan analisis rasio keuangan dengan kesehatan perusahaan dalam sistem pengelolaan kekayaan perusahaan. penelitian ini bertujuan untuk mengetahui pengaruh produktivitas, profitabilitas, dan rasio keuangan terhadap kesehatan perusahaan. hasil penelitian ini diharapkan semoga dapat bermanfaat bagi semua pihak yang berkepentingan dan sebagai sumbangsih untuk kemajuan perkembangan ilmu keuangan. metode penelitian ruang lingkup penulisan karya ilmiah ini meliputi profil perusahaan sehat, analisis, pengukuran, evaluasi, perhitungan nilai rasio keuangan, dan hubungannya dengan kesehatan perusahaan. metode penelitian yang digunakan adalah studi kepustakaan (library research) yakni mengumpulkan data berdasarkan berbagai sumber tertulis dan studi lapangan (field research) yaitu mengumpulkan data dengan cara melalui kontak dengan berbagai pihak. setelah data-data tersebut terkumpul, lalu dianalisis untuk dijadikan olahan dasar, kemudian dilakukan penafsiran dari keterangan yang diperoleh dan selanjutnya dimulai penulisan. 158 journal the winners, vol. 10 no. 2, september 2009: 156-163 hasil dan pembahasan profil perusahaan sehat berdasarkan pendekatan analisis aspek keuangan, perusahaan sehat dimaksudkan adalah perusahaan yang tingkat produktivitas dan provitabilitasnya tinggi, di mana sinergi keuangan mencerminkan efektif, efisien, produktif, dan kinerja keuangan menunjukkan rendabel, likuid, dan solvable (diagramnya dapat dilihat pada gambar 1). produktivitas adalah suatu hasil (kinerja), berdasarkan perbandingan dari output (pendapatan) yang dicapai terhadap input (biaya) yang dipergunakan. (produktivitas = output : input). sedangkan profitabilitas adalah suatu hasil (margin), berdasarkan selisih dari output (pendapatan) yang dicapai terhadap input (biaya) yang dipergunakan (profitabilitas = output – input). gambar 1 diagram profil perusahaan sehat produktivitas dan profitabilitas merupakan 2 variabel atau kekuatan yang mempengaruhi tingkat kesehatan perusahaan (gambar 2). kondisi demikian seperti terlihat sebagai berikut. produktivitas tinggi menunjukan perusahaan sehat = profitabilitas tinggi; produktivitas rendah menunjukan perusahaan bangkrut = profitabilitas rendah; produktivitas rendah menunjukan perusahaan waspada = profitabilitas tinggi; produktivitas tinggi menunjukan perusahaan kritis = profitabilitas rendah gambar 2 kuadran tingkat kesehatan perusahaan indikator perusahaan sehat, yaitu produktivitas tinggi; profitabilitas tinggi; sinergi keuangan mencerminkan efektif, efisien, produktif; kinerja keuangan menunjukan rendabel, likuid, solvable; perubahan, pembaharuan, dan pengembangan dinamis; dan pemberdayaan sumber daya, asas manfaat, dan eksistensi perusahaan terjamin. risk based internal auditing .....(choirul anwar) 159 analisis rasio keuangan (financial ratio analysis) secara umum, teknik cara analisis terhadap kesehatan perusahaan dapat dilakukan dengan berbagai aspek pendekatan, antara lain melalui pendekatan analisis dari aspek keuangan. faktor-faktor variabel dalam analisis keuangan yang berhubungan dengan kesehatan perusahaan antara lain, yaitu analisis rasio efektivitas, analisis rasio efisiensi, analisis rasio produktivitas, analisis rasio rentabilitas, analisis rasio likuiditas, dan analisis rasio solvabelitas. pertama, analisis rasio efektivitas. analisis kemampuan perusahaan untuk mencapai sasaran maksimalisasi output (hasil) dalam pelaksanaan kerja. perumusan nilai rasio berdasarkan perbandingan: nilai aktual = output aktual : output rencana nilai standar = output rencana : output rencana nilai normatif = 1 atau 100% nilai aktual di atas standar menunjukkan efektivitas tinggi (efektif), dan sebaliknya nilai aktual di bawah standar menunjukkan efektivitas rendah (tidak efektif). kedua, analisis rasio efisiensi. analisis kemampuan perusahaan untuk mencapai sasaran minimalisasi input (biaya) dalam menggunakan sumber daya. perumusan nilai rasio berdasarkan perbandingan: nilai aktual = input aktual : input rencana nilai standar = input rencana : input rencana nilai normatif = 1 atau 100% nilai aktual di atas standar menunjukkan efisiensi rendah (inefisien), dan sebaliknya nilai aktual di bawah standar menunjukkan efisiensi tinggi (efisien). ketiga, analisis rasio produktivitas. analisis kemampuan perusahaan untuk mencapai sasaran optimalisasi nilai tambah (added value) dalam proses produksi. perumusan nilai rasio berdasarkan perbandingan: nilai aktual = output aktual : input aktual nilai standar = output rencana : input rencana nilai normatif = target/rencana nilai aktual di atas standar menunjukkan produktivitas tinggi (produktif), dan sebaliknya nilai aktual di bawah standar menunjukkan produktivitas rendah (non produktif). keempat, analisis nilai rasio produktivitas (nrp), yakni (1) nrp > 1 menunjukkan prestasi perusahaan produktif, di mana perusahaan mampu menghasikan nilai tambah (added value) dan memperoleh keuntungan. lebih dari itu, bila nrp tersebut pencapaiannya sama atau di atas standar, maka kegiatan perusahaan berhasil mencapai sasaran-sasaran yang telah ditentukan; (2) nrp < 1 menunjukkan prestasi perusahaan non produktif, di mana perusahaan tidak mampu menghasikan nilai tambah (added value), atau dapat dikatakan menderita kerugian; (3) nrp = 1 menunjukkan prestasi perusahaan dalam kondisi bep (break even point / titik pulang pokok), di mana hasil kegiatan perusahaan tidak untung dan tidak rugi. kelima, analisis rasio rentabilitas. analisis kemampuan perusahaan untuk mencapai sasaran optimalisasi margin (laba) dalam operasi perusahaan. perumusan nilai rasio berdasarkan perbandingan: nilai aktual = laba aktual : aset total aktual nilai standar = laba rencana : aset total rencana nilai normatif = target/rencana nilai aktual di atas standar menunjukkan rentabilitas tinggi (rendabel), dan sebaliknya nilai aktual di bawah standar menunjukkan rentabilitas rendah (tidak rendabel). 160 journal the winners, vol. 10 no. 2, september 2009: 156-163 keenam, analisis rasio likuiditas. analisis kemampuan perusahaan untuk mencapai sasaran surplus cash dalam memenuhi kewajiban (hutang) jangka pendek. perumusan nilai rasio berdasarkan perbandingan: nilai aktual = aktiva lancar aktual : pasiva lancar aktual nilai standar = aktiva lancar rencana : pasiva lancar rencana nilai normatif = 2 atau 200% nilai aktual di atas standar menunjukkan likuiditas tinggi (likuid), dan sebaliknya nilai aktual di bawah standar menunjukkan likuiditas rendah (il-likuid). ketujuh, analisis rasio solvabelitas. analisis kemampuan perusahaan untuk mencapai sasaran surplus modal dalam memenuhi seluruh kewajiban (hutang total) jangka pendek dan jangka panjang. perumusan nilai ratio berdasarkan perbandingan: nilai aktual = aset total aktual : hutang total aktual nilai standar = aset total rencana : hutang total rencana nilai normatif = 3 atau 300% nilai aktual di atas standar menunjukkan solvabelitas tinggi (solvabel), dan sebaliknya nilai aktual di bawah standar menunjukkan solvabelitas rendah (in-solvabel). tabel 1 metode perumusan perhitungan analisis nilai rasio keuangan item nilai normatif nilai standar nilai aktual efektivitas 1 atau 100% ouput rencana output aktual output rencana output rencana efisiensi 1 atau 100% input rencana input aktual input rencana input rencana produktivitas target / rencana ouput rencana output aktual input rencana input aktual rentabilitas target / rencana laba rencana laba aktual aset total rencana aset total aktual likuiditas 2 atau 200% aktiva lancar rencana aktiva lancar aktual pasiva lancar rencana pasiva lancar aktual solvabelitas 3 atau 300% aset total rencana aset total aktual hutang total rencana hutang total aktual pengukuran dan evaluasi nilai rasio keuangan pengukuran dan evaluasi terhadap nilai rasio keuangan perlu dilakukan secara periodik terus menerus untuk mengetahui tingkat kenerja dan kesehatan perusahaan pada suatu waktu tertentu (tabel 2). tehnik pengukuran dan evaluasi dapat dilakukan dengan cara memperbandingkan nilai rasio normatif, nilai rasio standar, dan nilai rasio aktual. terdapat hubungan bahwa nilai rasio keuangan aktual di atas standar (aktual > standar) mencerminkan perusahaan sehat, dan sebaliknya nilai rasio keuangan aktual di bawah standar (aktual < standar) menunjukkan perusahaan tidak sehat. risk based internal auditing .....(choirul anwar) 161 tabel 2 hubungan nilai rasio keuangan dan kesehatan perusahaan perhitungan nilai rasio keuangan neraca (balance sheet) no. item jumlah rp. no. item jumlah rp. aktual rencana aktual rencana 1. aktiva lancar 1. hutang lancar : kas bank 120.000 90.000 hutang dagang 56.000 59.000 persediaan 50.000 40.000 hutang bank 6.000 5.000 piutang 30.000 20.000 hutang lain 3.000 6.000 200.000 150.000 65.000 70.000 2. aktiva tetap 2. hutang jangka tanah 50.000 50.000 panjang bangunan 90.000 90.000 hutang bank 3.000 7.000 mesin 280.000 280.000 hutang investasi 2.000 3.000 investaris 20.000 20.000 5.000 10.000 440.000 440.000 3. modal + cadangan penyusutan -60.000 -40.000 modal 450.000 450.000 380.000 400.000 laba rugi 130.000 65.000 cadangan 10.000 5.000 3. aktiva lain 80.000 50.000 590.000 520.000 660.000 600.000 660.000 600.000 item sasaran nilai pencapaian kesehatan sasaran perusahaan 1. efektivitas output aktual > standar efektif sehat aktual < standar tidak efektif tidak sehat 2. efisiensi input aktual > standar inefisien tidak sehat aktual < standar efisien sehat 3. produktivitas added value aktual > standar produktif sehat aktual < standar nonproduktif tidak sehat 4. rentabilitas margin aktual > standar rendabel sehat aktual < standar tidak rendabel tidak sehat 5. likuiditas surplus cash aktual > standar likuid sehat aktual < standar il-likuid tidak sehat 6. solvabelitas surplus modal aktual > standar solvabel sehat aktual < standar insolvabel tidak sehat 162 journal the winners, vol. 10 no. 2, september 2009: 156-163 daftar rugi laba (income statement) no. item jumlah rp. aktual rencana 1. output (hasil) : 1. penjualan tunai 540.000 480.000 2. penjualan kredit 10.000 20.000 550.000 500.000 2. input (biaya) : 1. tenaga kerja 95.000 90.000 2. modal kerja 26.000 40.000 3. material 197.000 190.000 4. mesin & energi 36.000 35.000 5. metode sistem & informasi 40.000 50.000 6. pasar 26.000 30.000 420.000 435.000 3. laba (1-2) 130.000 65.000 4. asset total 660.000 600.000 5. produktivitas (1 : 2) 131% 115% 6. return on asset/roa (3 : 4) 20% 11% nilai rasio keuangan nilai rasio aktual, yakni sebagai berikut. efektivitas = 550.000: 500.000 = 1,10 = 110% efisiensi = 420.000: 435.000 = 0,97 = 97% produktivitas = 550.000: 420.000 = 1,31 = 131% rentabilitas = 130.000: 660.000 = 0,20 = 20% likuiditas = 200.000: 65.000 = 3,08 = 308% solvabelitas = 660.000: 70.000 = 9,43 = 943% nilai rasio standar, yakni sebagai berikut. efektivitas = 500.000: 500.000 = 1,00 = 100% efisiensi = 435.000: 435.000 = 1,00 = 100% produktivitas = 500.000: 435.000 = 1,15 = 115% rentabilitas = 65.000: 600.000 = 0,11 = 11% likuiditas = 150.000: 70.000 = 2,14 = 214% solvabelitas = 600.000: 80.000 = 7,50 = 750% nilai rasio normatif, yakni sebagai berikut. efektivitas = 100% efisiensi = 100% produktivitas = 115% rentabilitas = 11% likuiditas = 200% solvabelitas = 300% risk based internal auditing .....(choirul anwar) 163 analisis perbandingan nilai-nilai rasio normatif, standar dan aktual simpulan simpulan yang diperoleh adalah sebagai berikut. perusahaan sehat adalah perusahaan yang tingkat produktivitas dan profitabilitas tinggi, di mana sinergi keuangan mencerminkan efektif, efisien, produktif, dan kinerja keuangan menunjukkan rendabel, likuid, dan solvabel. terdapat hubungan bahwa nilai rasio keuangan aktual diatas standar mencerminkan perusahaan sehat, dan sebaliknya nilai rasio keuangan aktual di bawah standar menunjukan perusahaan tidak sehat. perusahaan sebaiknya melakukan pengukuran dan evaluasi terhadap nilai-nilai rasio keuangan secara terus-menurus, dalam hubungannya dengan usaha memantau, mengendalikan, dan meningkatkan kesehatan perusahaan. daftar pustaka affif, f., dan supandi, u. (1998). manajemen modal kerja, bandung: remadja karya cv. gaspersz, v. (2000). ciqa, cpim, manajemen produktivitas total strategi peningkatan produktivitas bisnis global, jakarta: gramedia pustaka utama. hendro dan chandra, w.w. (2006). be a smart and good entrepreneur, jakarta: cla publishing dan universitas bina nusantara. mulyadi. (1993). sistem akuntansi, yogyakarta: bagian penerbitan stie-jkpn. riyanto, b. (1978). dasar-dasar pembelanjaan perusahaan, yogyakarta: yayasan badan penerbit gajah mada. sarie, b.s. (1986). dasar-dasar akuntansi, jakarta: badan penerbit upn veteran. weston, j.f., dan thomas e.c. (1991). manajemen keuangan, edisi kedelapan jilid pertama, jakarta: penerbit erlangga. perusahaan sehat microsoft word 07_ferry jie_analysis of advantages.doc journal the winners, vol. 3 no. 2, september 2002: 196-210 196 analysis of advantages and disadvantages of current operational risk management models (as/nzs 4360, as/nzs iso 9000, as/nzs iso 14000, as/nzs 4801, as/nzs 3806, as/nzs 4444) ferry jie1; hasan akpolat2; deepak sharma3; james irish4 abstract this paper will describe about the analysis of advantages and disadvantages of current operational risk management models (as/nzs 4360: risk management, as/nzs 4801: occupational health and safety management systems, as/nzs iso 9001: quality management system, as/nzs iso 14001: environment management system, as/nzs 3806: compliance management system, as/nzs 4444: information security management) based on expert experiences and extracting the literature review. the advantages of most current models are widely adopted by industries of various of sizes as the basis for their operational risk management. in addition, they may help the organizations to improve the operations and competitiveness. however, there are some disadvantages of most current models such as the models are very general (guidance only), not specific to cover particular risks of industries. and they don’t have the specific tools and processes. in addition, they may not be able to integrate all elements of the management systems such as safety, health, environment, quality, security, and compliance. keywords: operational risk management, advantages, disadvantages abstrak artikel memaparkan analisis keuntungan dan kerugian model manajemen risiko operasional terbaru berdasarkan pengalaman para ahli dan menyimpulkan dari berbagai sumber teori. keuntungan model terbaru tersebut digunakan secara luas oleh berbagai industri sebagai dasar manajemen risiko operasional. manajemen tersebut membantu organisasi meningkatkan operasinya dan daya saing. meskipun demikian, model tersebut memiliki kerugian, yaitu model tersebut terlalu umum, tidak spesifik untuk menutup risiko tertentu sebuah industri. juga tidak memiliki alat yang spesifik dan prosesnya. model tersebut juga tidak dapat mengintegrasikan seluruh elemen sistem manajemen seperti keselamatan, kesehatan, lingkungan, kualitas, dan keamanan. kata kunci: manajemen risiko operasional, keuntungan, kerugian 1 phd student at faculty of engineering, university of technology sydney and lecturer at bina nusantara university, jakarta-indonesia 2 principal supervisor, senior lecturer at faculty of engineering, university of technology sydney, australia 3 co-supervisor, a/professor at faculty of engineering, university of technology sydney 4 co-supervisor, senior lecturer at faculty of engineering, university of technology sydney analysis of advantages and disadvantages… (ferry jie; et. al.) 197 introduction in recent years, for running their business, many companies/industries find a number of operational risks which are likely to be made worse, for instance, quality, health and safety, it and also environment factors. these operational risks will make the companies met tremendous inefficiency or ineffectiveness, unpredictable profit margins, uncertain/lost revenues/throughputs and also business value lost. many companies may use the operational risk management models to manage or mitigate the risk, hazards, failure, and loss. this paper will discuss about the analysis of advantages and disadvantages of existing operational risk management models such as as/nzs 4360: risk management, as/nzs 4801: occupational health and safety management systems, as/nzs iso 9001: quality management system, as/nzs iso 14001: environment management system, as/nzs 3806: compliance management system, as/nzs 4444: information security management based on literature review and expert experiences. this paper will be divided into two sections, the first part is about the definition and overview of risk management, risk management methods/models/techniques, and operational risk management. and the second part is about the analysis of advantages and disadvantages of existing operational risk management. discussion overview of risk, risk management, and operational risk management i. definition of risk and risk management according to singleton and hovden (1987), risk is the chance of a failure, a function, mostly the product of likelihood and size of loss or failure, and also the dimension of the probable loss or failure. in addition, risk is the variance of the probability distribution of all probable consequences of a risky course of action. risk is the semi variance of the distribution of all consequences, taken over negative consequences only, and with respect to some adopted reference value (singleton and hovden, 1987). chapman and ward (1997) described the risk is “the implications of the existence of significant uncertainty about the level of project performance achievable”. risk is a weighted linear combination of the variance of and the expected value of the distribution of all possible consequences. according to as/nzs 4360 (1999), risk management is “the systematic application of management policies, procedures and practices to the tasks of identifying, analyzing, evaluating, treating, and monitoring risk”. risk management is “the culture, processes and structures that are directed towards the effective management of potential opportunities and adverse effects”. lam j. and kawamoto (1997) described the definition of risk management is “a scientific method to the problem of dealing with the pure risks which are faced by individuals or businesses”. according to wideman (1992), project risk management is the art and science of identifying, assessing, and responding to project risk throughout the life of a project and in the best interests of its objectives”. journal the winners, vol. 3 no. 2, september 2002: 196-210 198 according to a guide to the project management body of knowledge (2000), “risk management is the systematic process of identifying, analyzing and responding to potential project risk. it includes maximizing the probability and impact of positive events and minimizing the probability and consequences of events adverse to project objectives”. ii. operational risk operational risk is the risk related with business processes. another definition is the risk that comes up during performance of work in industry (manufacturing or service). operational risk can be divided into four areas as follows. 1. “quality – the risk of supplying a nonconforming product or service, to a customer”. 2. “safety – the risk of supplying an unsafe product or service to a customer, and/or injuring workers during production”. 3. “environment – the risk of supplying an environmentally damaging product to a customer, or damaging the environment during production or provision of a service”. 4. “security – the risk of being subjected to criminal activity during provision of a product or service”. the following australian standards which structure the foundation and guidance resource for an integrated risk management system will give effective management of operational risk, in project-based organisations and those involved in continuous production. 1. as/nzs 4360 : 1999 : risk management 2. as/nzs 4801-occupational health and safety management system 3. as/nzs iso 14001: effective environmental management system 4. as/nzs iso 9001: quality management system-model for quality assurance in design/development, production, installation and servicing 5. as/nzs 4581–management system integration 6. as/nzs 3806: compliance management system 7. as/nzs 4444: information security management 8. as/nzs 3931 risk analysis of technological system-application guide 9. as 3907 guidelines for configuration management 10. as 4269 complaints handling 11. as 2430.3 classification of hazardous areas analysis of advantages and disadvantages of as/nzs 4360: risk management, as/nzs iso 9000, as/nzs iso 14000, as/nzs 4801, as/nzs 3806, as/nzs 4444 i. advantages analysis 1. an/nzs 4360: risk management as/nzs 4360: risk management was introduced in 1995 and then finally revised in 1999 by standards australia and standards new zealand. this joint australian/new zealand standard was prepared by the joint technical committee ob/7-risk management. this was approved on analysis of advantages and disadvantages… (ferry jie; et. al.) 199 behalf of the council of standards australia on 2 april 1999 and on the behalf of the council of standards new zealand on 22 march 1999. in addition, this was published on 12 april 1999. this standard is the world first and is designed to complement iso 9000 activities. in addition, these standard summaries procedures which every organization can apply to facilitate establish context, identify, assess, analyse, treat, monitor and communicate with regard to risk. as/nzs 4360: risk management model chart can be seen at figure 1. it is a generic standard and only a guideline. it suggests a process rather than tools which are specific to particular industries. as/nzs 4360 has been widely adopted by industries of various sizes as the basis for their operational risk management. a number of handbooks have been published to help the application of as/nzs 4360 to specific industries or types of risk. figure 1 risk management model according to public comments that as/nzs 4360 is a consistent approach to risk management and its terminology. furthermore, this standard is easy to read format using language everyone can relate to and also can be adopted at every stage in the activity, function, project which generated by public, private or community/enterprise organization. according to bullish technologies (2002), as/nzs 4360: risk management propitiates facing the numerous risk with the advent of a "knowledge based global e-economy". based on strategy unit report in the united kingdom (2002), “the most established, as/nzs 4360, has been very well received internationally, widely influential, and adopted by, for example, the majority of government organisations in australia and the national health service and office of national statistics in the uk. the department of health also proposes to adopt the standard”. journal the winners, vol. 3 no. 2, september 2002: 196-210 200 2. as/nzs 4801: occupational health and safety management systems as/nzs 4801: occupational health and safety management system-general guidelines on principles, systems and supporting techniques was also published by standards australia and standards new zealand, in 2001. this standard is working in concurrence with as/nzs 4804. infact, as/nzs 4804 is a guideline to support for implementing and improving the occupational health and safety management system. this standard is “the part of the overall management system which includes organisational structure, planning activities, responsibilities, practices, procedures and resources for developing, implementing, achieving, reviewing and maintaining the ohs policy and so managing the risks associated with the business of the organisation”. the aim of this standard is to aid in the implementation, development, and improvement of occupational health and safety management systems. as/nzs 4801:2001 can be seen at figure 2. this standard provides auditable criteria for an occupational health and safety management system. moreover, this standard covers all the best elements of such systems (including guidance on how the criteria may be accomplished) already widely used in australia and new zealand organizations. as/nzs 4801 is intended to be used for certification and also for continuous improvement. as/nzs 4801 covers the comprehensive range of the requirements for effective occupational health and safety practice such as setting the policy, planning (identification of hazards, assessment and control the operational risks), setting training and competence, monitoring, measuring and recording management, auditing procedures and requirements, and reviewing management. figure 2 as/nzs 4801:2001, ohs management system model analysis of advantages and disadvantages… (ferry jie; et. al.) 201 3. as/nzs iso 9000: quality management system (version 2000 and version 1994) as/nzs iso 9001: quality management systems-requirements was published by standards australia and standards new zealand, in 2000. the aim of this standard is the effectiveness of the quality management system in meeting customer requirements. in addition, iso 9000:2000 can help the organizations to improve the operations and competitiveness. as/nzs iso 9001:2000, quality management system model chart can be seen at figure 3. figure 3 as/nzs iso 9001: quality management system model according to iso survey of iso 9000: quality management systems in 1999, australia has had the highest growth of iso 9000 certifications with 8,883 new certificates released. the language of this standard is easier to understand and also to apply to all industries. and another positive of this standard is the ability to make compatible with iso 14001. other strengths of the iso 9000 approach are this model is prescriptive and therefore the way forward is clear and unambiguous and the end point (achieving certified status) is well defined and externally validated (najmi and kehoe, 2000). kehoe (1996) explained that iso 9000:1994 (version) provides a number of qualitative advantages. in addition, british standard institution estimated that most companies can reduce the operating costs by 10 % on average with using iso 9000:1987 (version) (marquardt, 1992). based journal the winners, vol. 3 no. 2, september 2002: 196-210 202 on the survey which has conducted by lloyd’s register quality assurance ltd (lrqa) (1991), around 400 quality managers and senior managers defined that the advantages of iso 9000 can be accomplished in a variety of categories. furthermore, dale and oakland explained that there is an extensive list of qualitative and quantitative advantages of iso 9000 certification (1991). other survey about how implementation of iso 9000 has already been beneficial to industry. according to kanji that iso 9000:1994 (version) provides a reliable set of procedures and requirements that can be generally practical. he stated that when the organization has the quality system, the organization may have the capability to provide quality goods and services to their customers. curry and monaghan (1994) added the explanation that there are some advantages to be had for some local authority services in applying a qms model (iso 9000:1994 version). rayner and porter (1991), defined that there are some reasons to implement the iso 9000 are such as the market consideration, actual customer pressure, anticipated customer pressure, gain market advantage, access new markets, improve quality, and avoid multi assessment. according to the survey conducted by brown and van der wiele in 1995, the similar reasons for applying the iso 9000 are such as the customer requirements, to improve customer service, marketing, internal efficiency, and as a basis for a quality push. beattle and sohal (1999) explained that implementing iso 9000 in australian organizations can gives some benefits in strategic business (market share including the ability to tender on government work) and operational business (customer service). mc teer and dale stated that there are some benefits of iso 9000:1994 (version) system certification and registration process such as world wide recognition, make use of of certifying firm’s logo in sales literature and advertising, less but more focused audits by suppliers, faster, easier, and more comprehensive employee training, increased productivity, and lower production costs. 4. as/nzs iso 14000: environment management system as/nzs iso 14001: environmental management systems-specification with guidance for use was prepared by the standards australia and standards new zealand qr/11 in 1996 it is the same as the international standard iso 14001: environmental management systemsspecification with guidance for use. the key elements of an as/nzs iso 14001 are environmental policy, planning, implementation and operation, checking and corrective action, management review and continual improvement. as/nzs iso 14001, environmental management systems model chart can be seen at figure 4. according to iso survey of iso 14000: environmental management systems certificates in 1996, australia registered 356 new certificates under this standard. this standard is one part of management tools to enable an organization of any size or type which want to improve and control the impact of its activities, products or services on the environment. in addition, this standard can be used to assure itself of conformance with its stated environmental policy. according to rondinelli et al (2000) that iso 14001 has some strengths as follows. 1. gives the “framework for continuous improvement of environmental performance”. 2. iso 14001 is a complementary mechanism that is flexible and adaptive, and enhances the overall implementation regulatory framework. 3. minimises the environmental incidents and liability. analysis of advantages and disadvantages… (ferry jie; et. al.) 203 4. improves the organization images among regulators, community and consumers or other parties. 5. it is strong credibility to trade/exporters. 6. this is a communication tool and partnership tool for conveying the verifiable message and also getting a common ground. 7. stakeholder can participate involved in the environmental management system design. figure 4 as/nzs iso 14001: environmental management system model 5. as/nzs 3806: compliance management systems this standard gives the principles or essential elements for the development, implementation, maintenance, and management of effective compliance programs within both public and private organizations. this standard gives the structure for an effective compliance program to prevent, identify and respond to, breaches of laws, regulations, codes or organizational standards occurring in the organisation. in addition, this standard promotes a culture of compliance within the organization and assists the organization in remaining or becoming a good corporate citizen. this standard has three core elements as follows. a. structural elements (commitment, compliance policy, management responsibility, resources, continuous improvement). b. operational elements (identification of compliance issues, operating procedures for compliance, implementation, complaints handling system, record keeping, identification and rectification, systemic and recurring problems, reporting, management supervision). c. maintenance elements (education and training, visibility and communication, monitoring and assessment, review, liaison, and accountability). journal the winners, vol. 3 no. 2, september 2002: 196-210 204 6. as/nzs 4444 information security management as/nzs 4444 (1999) information security management gives a lot of description about the security mechanism and framework, protecting the confidentiality, integrity, and availability of information. in addition, this standard covers all dimensions of information security management such as security policy, security organization, asset classification and control, personnel security, physical and environmental security, communications and operational management, access control, system development and maintenance, business continuity management, and compliance. basically, when as/nzs 4360 combines with as/nzs 4444, they will give the good performance framework for building effective security. this standard is divided into two sections, the first section is about a code of practice for information security management and the second section is about the specification a risk management based information security management system. disadvantages analysis 1. as/nzs 4360: risk management the main of disadvantage of this standard is that the process of as/nzs 4360:risk management system is very general, not specific/not adequate to cover particular risks of industries and does not have the specific tools and processes (grey, 2001), even though this model is considered to be an excellent basic framework and has widely applicability. and this standard does not go far enough for public sectors. in addition, this system does not have the integration between qualitative and quantitative tools and also integration between individual and overall risks. according to erma new zealand that “by nature as/nzs 4360 does not address the detail of the specific issues that risk managers working in specialist areas face in using the standard”. based on the analysis of the researcher about this standard, there are some other disadvantages of as/nzs 4360 are as follows. a. there is no risk identification process in detail (in risk management process). b. and there is just a little bit risk identification tools (not providing the particulars tools). c. there is no computerization tool of qualitative, semi quantitative and quantitative analysis in risk analysis step. d. there is not many risk analysis tools. e. there is no risk monitoring and review process and also risk communication and consultation process. f. there is no mention about the risk monitoring and review tools and risk communication and consultation tools. g. there is only a little bit identifying options for risk treatments (only reduce / control likelihood and reduce / control consequences). what about other risk treatments or risk strategies, such as mitigation, retain, transferring options, etc). h. no explanation in detail all identifying options for risk treatments. i. there is no sample or example risk identification, risk analysis/evaluation tools. analysis of advantages and disadvantages… (ferry jie; et. al.) 205 2. as/nzs 4801: occupational health and safety management systems one of disadvantage of this model is a general model (not a specification model), even though it aims to cover the best elements of such systems which are already widely used in australia and new zealand. in addition, it does not indicate specific occupational health and safety performance results. one weakness of this standard is that it does not deal with health surveillance. according to sai global assurance services that as/nzs 4801 provides general guidelines on the systems, principles, and supporting techniques. 3. as/nzs iso 9000: quality management system all requirements of iso 9001 are generic (not specific) even though this standard is widely applicable to all organizations regardless of type, size, and product provided. this standard is independent of any specific industry and it have to be interpreted by the user in order to put it into practice. in addition, iso 9000 is not in itself sufficient to ensure that a high and continually improving level of quality is attained. there are the following of the year 2000 problem of iso 9000: the standards should have increased compatibility with the iso 14000 and should have an ordinary structure based on a process system. iso 9001 requirements should include display of continuous improvement and avoidance of non conformity. iso 9001 should deal with effectiveness while iso 9004 should address both efficiency and effectiveness. iso 9004 should help achieve benefits for all interested parties, for instance, customers, owners, employees, suppliers and society. the revised standards should be simple to use, easy to understand, and use clear language and terminology. the standards should facilitate self evaluation. the standards should be suitable for all sizes of organizations, operation in any economic or industrial sector, and the manufacturing orientation of the current standards should be removed. according to jurgen dorn and riccardo peratello, iso 9000 is often unwanted internally because this standard is bureaucratic overhead (in particularly for maintenance), this standard missed the acceptance of process orientation and totality, and also this standard is inability to model processes (due to soft preferences). another disadvantage of iso 9000 is this standard does not deliver the ongoing quality improvement or long term competitive advantage associated with tqm. therefore, the relationship between iso 9000 and tqm is often poorly understood and for many companies the transition from being an iso 9000 certified company to becoming a total quality is uncertain. another drawback of this standard is to meet the standard’s requirements, the organization needs to invest additional time, and resources. there are some criticisms and disadvantages of iso 9000 (old version) as follows. a. the cost is high. b. this is commonly erroneous as a guarantee for quality. c. infact the certification process makes too much paperwork. d. there is unwarranted pressure on suppliers to get the certification. e. the system of accreditation is poor. f. iso 9000 series are general and represent minimum requirements for an effective quality system. g. iso 9000 series does not provide the continuous improvement. h. this standard does not focus strongly on customer satisfaction. journal the winners, vol. 3 no. 2, september 2002: 196-210 206 4. as/nzs iso 14001: environment management system as/nzs iso 14001:1996 is quite simple and does not create complete requirements for environmental performance further than commitment, in the policy, to compliance with applicable legislation and regulations and to continual improvement. also, it is not intended to address and does not include requirements for aspects of occupational health and safety management. it encourages integration of such management system elements but does not offer advice on how to do so. in addition, this standard provides little attention to sustainability (the full-size picture of environmental, social performance and economic) and corporate social responsibility. another major disadvantage of iso 14000 is its lack of public awareness and thereby lack of mass support. this standard does not go far enough for reducing organizations environmental impacts. according to bullish technologies, as/nzs iso 14000 does not identify specifically any requirements for particular products or processes. moreover, as/nzs iso 14001 does not put any criteria for environmental performance and also does not modify any regulatory compliance and legal requests. in addition, wwf stated that as/nzs iso 14000 does not have absolute performance level for organizations so the organizations with poor performance level can be able to get the certification and environmental documentation. this standard does not identify specifically the levels of performance that let a wide variety of organizations to put into practice them, whatever their current level of environment maturity is. according to rondinelli et al that iso 14001 has some disadvantages as follows. a. it lacks the necessities for public access to regulatory compliance, information, and liability/accountability. b. it is not suitable for education institutions such as universities, schools, because the cost of this might be expensive. c. this can not differentiate between pollution prevention and pollution control d. attention to detail of an environmental management system is sometimes missing from maturity of the organization. e. lack of supplier condition has limited its effectiveness. f. some organizations adopt iso 14001 only to get their public image (not achieving the overall goal of sustainable development). 5. as/nzs 3806: compliance management systems the disadvantages of this standard are as follows. a. this standard is only a guidance only and very general. b. this standard only provides the guidance for small business only in appendix a. 6. as/nzs 4444: information security management the disadvantages of this standard are as follows. a. this standard does not provide the guidance for any kind of size of organizations, for instance lack examples and implementation suggestions. b. this standard is very general. c. this lacks the examples and the implementation / actions suggestion. analysis of advantages and disadvantages… (ferry jie; et. al.) 207 summary in conclusion, this paper will give a good contribution for overview of the existing operational risk management models such as (as/nzs 4360: risk management, as/nzs 4801: occupational health and safety management systems, as/nzs iso 9001: quality management system, as/nzs iso 14001: environment management system, as/nzs 3806: compliance management system, as/nzs 4444: information security management) in particularly in the analysis of advantages and disadvantages based on the literature review and expert experience. for instance, the advantages of most current models are widely adopted by industries of various of sizes as the basis for their operational risk management. in addition, they may help the organizations to improve the operations and competitiveness. however there are some disadvantages of most current models such as the models are very general (guidance only), not specific to cover particular risks of industries. and they don’t have the specific tools and processes. in addition, they may not be able to integrate all elements of the management systems such as safety, health, environment, quality, security and compliance. for instance, many organizations used the various standards separately and also independently of existing business management system. hopefully, the organizations can choose which one of the current models is suitable or the best for managing the risks or hazards. another benefit is for academic perspective, the researchers can analyse about the measurement of the performance of the current operational risk management models and 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wwf. 1995. forests for life. wwf's 1995 seminar proceedings. wideman, r.m. 1992. project and program risk management: a guide to managing project risk and opportunities. usa: project management institute pmi. factors influencing the intention …… (sri bramantoro abdinagoro) 93 factors influencing the intention of attending theater performances: an exploration study sri bramantoro abdinagoro management department, binus business school doctor of research in management jln. kebon j eruk raya no. 27, kebon jeruk, jakarta 11530, indonesia sabdinagoro@binus.edu abstract the phenomenon of theater goers who were not satisfied when watching but at the next show they were still watching, being the opposite of the concept of satisfaction. this research aimed to find the factors that caused people to intend to watch the theater again to answer the phenomenon. the researcher used an exploratory study that focused on exploring important features in the theater performing arts on those who had been watching and who had not watched. in this study, author constructed semi-structured interview questionnaires that were focused on; (1) reason for people watching the theater, (2) theatrical attributes, (3) audience expectation, and (4) audience development. the participants of the exploratory study in this study were; (1) a group of actors and performing arts workers, (2) people who watched the performing arts, and (3) people who did not watch the performing arts. the total participants were 15 persons. from the exploration results with at least 16 keywords or phrases obtained, the researcher analyzes and classifies the keywords and phrases with the same meaning and understanding that exist in each word. there are 8 (eight) constructs formed based on these keyword groupings; theater play, theater reputation, goal achievement, theater atmosphere, satisfaction, flow, intention to watch again, and word of mouth. the results of this exploratory study at the next stage of the research will be the input of the research model. keywords: influencing attending intention, theater performances, attention introduction performing arts is one kind of arts. rand corporation in its monograph report on performing arts (2001) dividing art into four groups; performing arts, media arts, visual arts, and literary. included in the performing arts are a theater, dance, music, and opera. in the indonesian context, researcher classifies traditional performing arts such as wayang orang (human puppet), ketoprak (traditional drama), and the similar into opera groups, because of its characteristics as classical art. in this study, the researcher limits the scope of research on the theater performing arts only with the following characteristics; instead of "folk art", is paid, and has a limited or not the spectacle of mass (such as the live concert that has more than hundreds or even thousands of audiences). the paid aspect is important because it is related to the marketing and professionalism of the theater performing organizations. as an example of the theater performances as defined in this study as teater koma, opera tan malaka, onrop musical drama, and laskar pelangi musical drama. research on the theater performances has grown in the west. these studies include research on art marketing and its performance (colbert & st-james, 2014; boorsma & chiarawalloti, 2010), using social media and web strategies (hausmann & poellmann, 2013; preece & johnson, 2011), performing arts organizations (turbide & laurin, 2009; poon & lai, 2008; preece, 2011), purchasing mailto:sabdinagoro@binus.edu 94 journal the winners, vol. 18 no. 2, september 2017: 93-108 behavior and intension in performing arts (troilo, coito, & soscia, 2014; hume & mort, 2010), analysis of theater attendance and attendance behavior (akdede & binatli, 2017; ateca-amestoy, 2008; hager & winkler, 2012; wen & cheng, 2013; swanson, davis, & zhao, 2008), engagement and performing arts audience (latulipe, carroll, & lottridge, 2011; markusen & brown, 2014), audience development (scollen, 2008), audience measurement (au, ho, & chan, 2017; chan et al., 2017), characteristics of performing arts customers (johnson & garbarino, 2001; petr, 2007; chan & goldthorpe, 2007), the relation of performing arts relationships with customers and relational marketing (garbarino & johnson, 1999), the importance of customer value in performing arts performances (hume & mort, 2008; dovaliene & virvilaite, 2008), and methods of measuring the quality of artistic performances (radbourne et al., 2009). in a study of audiences, characteristics and behavior in attending of theater performing arts are defined as two major groups; subscriber and occasional subscriber or single ticket buyer. so it has also predicted the degree of relationship between audience with theater (garbarino & johnson, 1999; johnson & garbarino, 2001; petr, 2007). thus, marketing research and development at the performing arts organization is wide and advanced. at this stage, audience development, especially the increase in audience participation, has become the main objective of any performing arts organization (bernstein, 2007). however, this has not happened fully in indonesia. although now the theater performing arts have grown well with the emergence of new theaters, the increase in audience participation has not been successful. theater art audiences are limited, and ticket buyers have not increased quickly yet. one of the contributing factors is that the theater performing arts are generally still in the level of an art product, not on a commercial product (riantiarno, 2011; prihadi, interview result). it means the creator or theater is performing art organization still prioritizes the aesthetic element and art in the show; they have not much and do not even want to think about its commercial aspect. suprawito (2002) mentions the perception of various community groups in indonesia that art is a work that can be enjoyed by himself (the creator of art) and others, but they never think to get economic value or income from work. referring to garbarino & johnson (1999), theater performers in indonesia are generally more on occasional or single ticket buyer groups, and in the current phenomenon, in performing arts performances are few audiences who only just watch and never come back. therefore, it becomes a challenge for performing arts organizations, especially the theater to further understand the character of the audience, the factors that make them interested in watching and keep watching again so that the development of the audience (audience building) can be achieved. the important thing in understanding the character of the audience is by observing and knowing what they experience while watching. watching the performing arts may be regarded as an individual audience experience in enjoying the products or services that are provided by the performing arts organization. one thing that becomes a phenomenon and the problem of this study, which also want to be answered, is the presence of a dissatisfied audience while watching but still watching the next show. this phenomenon is contrary to the concept of satisfaction where dissatisfaction will lead to the absence of repurchase intention. therefore, the authors hope the results of this research will contribute to the theory of satisfaction and provide input for the management of performing arts theater. the researcher conducts an exploratory study in advance to know and understands the audience in watching theater performing arts. in the interviews and discussions with the audience, it indicates that the viewing experience aspect is the reason they watch the theater. use of the exploration study method made considering the problems of this research requires an explanation of the reasons and background of the person or attendance want to watch the theater performing arts. preunderstanding is required because the researcher has limited knowledge about the background and thorough person is watching the performing arts. gumesson (1991) has mentioned that prefactors influencing the intention …… (sri bramantoro abdinagoro) 95 understanding which is the input and the output is the insights gained from the study. through this exploratory study, it is expected that there will be additional deeper understanding of the phenomena studied before building the model and designing the research process. malhotra (1999) argues that the implementation of exploratory studies is generally conducted when the researcher wants to clearly define the problem, identify the phenomenon or to gain understanding before doing further research. zikmund (2000) even mentions if the exploratory study can be used to investigate all options (option) research that may occur. furthermore, by conducting an exploratory study, the researcher may find new ideas that are not previously covered and thought out (zikmund, 2000). the exploratory study conducted in this study is primarily conducted to deeper understanding into the reasons people attend theater performing arts in indonesia. this is done because of most of the literature on various aspects of the performing arts audience in the reference of this study more in the context of the west. this condition may be different with the audience condition in indonesia, so the results of the study may not necessarily apply in indonesia. with this method, the researcher is expected to be able to identify the research variables, build the research model, and formulate the research hypothesis better. conducted an exploratory study is not without its weakness. the weakness of this study as well as in general qualitative study is subjectivity and bias on the interpretation of the findings. another thing is the relatively small sample size, so it is not representative of the side of the statistical analysis. nevertheless, the findings of exploratory studies may be viewed as preliminary findings to be re-examined (zikmund, 2000). the benefits of exploratory studies are essential to clarify the definition of the problem (zikmund, 2000). this is done because in this study the researcher conducts an informal investigation and interacts with resource persons who experienced the phenomenon to be studied. the exploratory study aims to assist the researcher in deeply understanding the phenomenon of attending the theater performing arts, the reasons for watching and knowing the expectations of people in watching the performing arts and its relation to the intention to watch again. the exploratory study focuses on exploring important features in the theater performing arts on those who have been watching and who have not watched. the results of exploratory studies are used to formulate research problems, identify variables and build research models for the reason to watch theater performing arts in indonesia. in terms of academic, this research is expected to bring an increase in the quality of research, while on the practical side hope this research can be applied by the management of performing arts organizations in indonesia in building performing arts audiences. methods sekaran (2003) states that the observation or interview as a data collection technique is basically an exploratory study. zikmund (2000) states that the pilot study is one of the categories in exploratory research method that is the method of collecting primary data from the sample with a looser standard when compared with quantitative studies. the sample in question is the subjects related to the problem, in this study for example audience, performing arts observer, organizer of performing arts. one of the pilot study methods used in this research is depth interview, which is conducting relatively unstructured but extensive interviews with several participants related to the research problem. with this method, participants can express their opinions freely. in this study, researchers construct semi-structured interview questionnaires (interview protocol). interview protocols are focused on (1) reason for people watching or not watching the theater, (2) theatrical attributes, (3) the audience expectation, and (4) the audience development. 96 journal the winners, vol. 18 no. 2, september 2017: 93-108 the results of the interviews are then processed based on the interpretation of the researcher and discussed with some of the parties involved in the research (scharbo-dehann, 1993). this interpretive approach is an approach that animates qualitative research methods (goulding, 2002). the basic assumption of this interpretive approach is that data analysis does not occur under vacuum conditions, but is also influenced by the researcher's (louise, 2004) and subjective viewpoint (goulding, 2002). there are some weaknesses in the interpretive method. first, the results of the study will be subjective, intuitive, and influenced by the values of the researcher. this happens because the researcher is a research instrument. this weakness can be eliminated by using other parties to test the accuracy of the interpretation of the researcher (goulding, 2002). second, in general, this method does not have strict procedural rules because the variables have not been defined operationally. however, the weakness of this kind of research becomes more flexible, and researchers can make improvements towards research. with its flexible nature, the description of the problems in the field becomes more extensive and complete. third, there is the possibility of the research direction results become deviated from the initial goal. for the method of data collections that are semi-structured, taking a guide (the study protocol) is used to overcome these weaknesses. while using guidance but the guidance is not strict in order to extract a wider problem can still be possible. data are analyzed by observing patterns emerging from the data (scharbo-dehann, 1993; goulding, 2002; louise, 2004). the results of the interview and then convert into the written form called verbatim. furthermore, using the technique of codification, verbatim grouped into categories that are descriptive. one way is to do a line by line analysis (goulding, 2002). line-by-line analysis performed repeatedly is used to search for key words or phrases that provide insight into the problem of the study until the researchers capture a pattern. one indication of the identified patterns is words or phrases often appear in the data (brause, 2000). the codes are then grouped based on similarities in explaining behavior, which then identifies the relationships between groups of codes, to compile an explanatory model. the validity and reliability of qualitative research methods are generally different in size from quantitative research methods because of the subjective nature. trustworthiness is to measure the validity and reliability of qualitative research (cramer et al., 2014; cresswell, 1998; thurston, 2005) by four criteria. first, credibility, which shows the extent to which the study results can be replicated. in this study, credibility can be achieved by performing a cross-check with theory and cross-checked with the interpretation of the third party. second, transferability, which measures the extent to which the results of the study can be generalized. to achieve this criterion, the interviews in this study are conducted up to saturation, and the results of the study are analyzed using interview passages. third, dependability, which measures the dependence of the results of a study of the conditions and situation of data collection. in this study achieved with repeat listening, making verbatim, and to test the crossinterpretation of the third party. fourth, confirmability, to measure the extent to which the results of a study conducted an unbiased and data can be traced to its source. in this study participants are parties directly involved in the phenomenon under study. this exploratory study is part of the mixed method research (venkatesh, brown, and bala, 2013; fetters, curry, and creswell, 2013) which will be done in this research. the determination of selecting research participants for an exploratory study is tailored to the research objective to explore the reasons people watch the performing arts and are considered to know the information and phenomena to be studied. the participants of the exploratory study in this study are; (1) a group of actors and performing arts workers, (2) people who watched the performing arts, and (3) people who do not watch the performing arts. performers and performing arts workers are interviewed to get an idea of the condition of indonesian performing arts theater at the moment and to know the viewpoint of actors and workers factors influencing the intention …… (sri bramantoro abdinagoro) 97 on the marketing aspects of the performing arts and an understanding of the audience and audience building. performers and performing arts workers who are interviewed, namely; mrs. ratna n. riantiarno (teater koma) for approximately 50 minutes, and bambang prihadi (managing director of the federation of indonesian theater) for approximately 60 minutes. the next participant in the exploration study is theater performing arts audiences, 13 people. participant data, location, and duration of the interview can be seen in table 1. the audience participants are mostly interviewed at taman ismail marzuki, cikini, jakarta as a performing arts venue. while participants who are either non-spectators or do not like to watch are mostly interviewed at the participants' venue, others are located at tim. table 1 participants of theater performing arts exploration studies no. name occupancies position place of interview duration 1 rs private employee attendee participant house 35 minutes 2 sub private employee not attendee office 35 minutes 3 es bus. dev. manager attendee office 30 minutes 4 aw consultant not attendee participant office 47 minutes 5 s post grad student not attendee campus 42 minutes 6 a post grad student not attendee campus 40 minutes 7 wg consultant attendee café 42 minutes 8 js manager attendee tim 47 minutes 9 se entrepreneur attendee tim 40 minutes 10 z housewife not attendee tim 50 minutes 11 rr private employee attendee tim 41 minutes 12 bn private employee attendee tim 21 minutes 13 as under grad student attendee tim 27 minutes in interviews with performers and performing arts workers, the researcher does this with an open question because it aims to get as much information about theater performing arts. questions about the development of theater, the preparation of theatrical performances, how to market tickets for the show are some of the questions that arise in the interview and develop during the interview. the results of this interview are also used as inputs to compile interview materials to the next respondent. in the audience participants and not the audience, before conducting the interview, the researcher constructs an interview guide (study protocol). this is because the research applies semistructured method which means that the questions proposed already have guidelines that have been prepared beforehand with the aim of getting interview results that focus on interview questions. the questions asked in the interview are: question1: what are your reasons for watching theatrical performances? is there any other reason? what are your obstacles to watching the performing arts? this question is asked to find out more about why people want to watch the performing arts of the theater. the main reason what the causes of people want to stay watching to finish. in the context of people who are not watching the performing arts, the excavations of anything that becomes an obstacle to watching the performing arts are deepened. it is expected from this question to get the factors that cause people to watch or do not want to watch the theater performance arts. question 2: what factors or features encourage you to watch the performing arts? interestingly the art of theater performance is inseparable from the features attached to the performing arts of the theater. the layout of the stage, lighting, music, are some examples of features that exist in the performing arts theater. in addition, services both before and during the show, such as booking 98 journal the winners, vol. 18 no. 2, september 2017: 93-108 tickets, ticket prices, and comfort in watching the performing arts also become features that can be excavated on the participants. question 3: what do you expect/look for from watching the theater performance arts? before watching? while watching? and after watching? this question is asked to explore audience expectations for the performing arts that are watched. consumers who feel the expectations are met in general will get satisfaction. with this question, researchers want to know what the factors are the expectations and satisfaction of the performers. from this question, the researcher also wants to explore aspects of the viewing experience perceived by the audience. question 4: what would you do if you were satisfied watching the performing arts? what would you do if you were not satisfied watching the performing arts? this question is asked to know what behavior or actions the audience will perform after they have finished watching the theater performance arts. the reaction to a sense of satisfaction generally leads to the desire or intention of the consumer to buy back his product/service or do word of mouth on the product/service. these are the things that will be explored and may be found with this question. results and discussions a discussion of the participants' answers to the questions described in the preceding sections will be explained in the following sections. because of the semi-structured nature of the interviews, the application of the questions raised to the participants can develop according to the flow of the conversation and the emerging issues that are found in participant answers. the frequency of words that appear to be the answer of the participants can be seen in table 2. it indicates that this word or phrase can be a dimension or research variable. table 2 the keywords/phrases and frequency of appearance no. keyword freq 1 stories / narration / synopsis 61 2 actors / player 27 3 drifted / dissolves / carries / melts 25 4 mission / messages 18 5 music, musical accompaniment 16 6 atmosphere 14 7 entertaintment 14 8 place/venue 10 9 watching again 9 10 friend 8 11 theater name/brand 6 12 moment/momentum 6 13 self-image, more exclusive, more intellectual 6 14 satisfaction 5 15 wom 5 16 relaxation 5 in more detail, the words or phrases that appear in the interview can be described as follows. participants respond that the storyline or narrative is the factor that causes them to watch the performing arts of the theater. stories/narratives/synopsis is a factor that impresses the audience that factors influencing the intention …… (sri bramantoro abdinagoro) 99 becomes a tool for analyzing performances and gets them carried away. here are excerpts of interviews with some participants. participant aw: “for example, my experience is watching japanese puppet theater at tim ... although the language is not understood because of japanese ... but there is a narrator who tells stories .... what impressed me was the storyline or synopsis ... in my opinion it was very impressed.” participant sub: “during watching we observe or follow the plot of the story, at least we analyze what the meaning of the story, what mission or message will be brought or delivered by the director, there are times when i might become contemplative with the story line ...” participants rs: “can enjoy also sometimes because we've read the synopsis in the book... from it... synopsis so important... because the new can guess where the direction of the story ... how the actors that play it...” wg participants: “if the theater maybe if the story laughs at themselves for example, it's also interesting to watch...” participant js: “in the theater it brings together the music and the play, so it is nice to watch, sometimes there are times only with the movement and accompanied by the music alone the audience can already know what is implied in the theater, especially if there is an old javanese song that makes me feel the atmosphere javanese land. i love stories interspersed with jokes, so not too serious...” participants mention the importance of actors or players to encourage them to watch theatrical performances. the focus in watching is generally also because the actor or player can bring the story to life. as in the following interview results: participant es: “i consider the actor to be important, because through his performance so live ...” participant rs: “actors are important too ... let alone we can get closer physically with actors ... and see how they play ...” participants js: “second: players, at least i know the quality of the playing because a good actor can feel the play with that fitting and make the audience float” participant se: “players must be the first because experienced players can turn on the playing that he played .... i definitely choose to choose whether you want to watch the theater.” participant z: “one of them, a professional player, because with experienced players, more animation and fused in the story ...” participants also mention the word drift, dissolved, carried away when the question of why interested in watching the theater. drizzled, dissolved, or carried away are the expression of participants when excavated what is the strong reason they enjoy the spectacle. some participants answered as follows. participants aw: “what impressed me was the storyline or synopsis ... i think it was very impressed... made me drift especially with the background music that uses the japanese rebab....” participants rs: “... let alone watching with live performances ... we can share the emotions of other audiences ... so can together fun to watch...” 100 journal the winners, vol. 18 no. 2, september 2017: 93-108 participants eg: “the only tone played and another dance slowly ... but from there are 4 photographers to forget to take pictures ... luckily there is one person who turned on the video, so there is also the tape... well everything was drifting in the show, including me....” participant js: “i'm an audience, so always expect exciting performances that can make me drift in the story and give a moral message that can be understood ...” participants se: “the stage layout and decoration should also be good and match the title of the story to be delivered so that the audience can feel like in real life and drift in the story... “ the sense of drift, dissolved, carried away is also indicated by a time-distortion participant as indicated by the following participant's answer. participant rr: “if i've watched the theater sometimes i forget the time, especially if the story fits in my heart, sometimes i like to cry if the story has really touched the heart...” the message or mission or meaning to be conveyed in the show becomes the answer that comes from the participants. messages, missions, or meanings are generally sought by participants in watching and enjoying the show. some participant statements are as follows. participant sub: “... at least we analyzed what the story meant, what mission or message would be brought or delivered by the director, there were times when i might be contemplating the plot...” participant s: “it is expected that we watch ... in fact, if we get the message that the story or the show wants to convey ... we will be satisfied ... it means that our image is the same as we imagine...” participant js: “i'm an audience, so always expect exciting performances that can make me drift in the story and give a moral message that can be understood...” participants as: “what i expect from a theater is the meaning of the story. can represent me in everyday life, and be an example in everyday life, thus creating a new atmosphere in life...” the right musical accompaniment and in accordance with the course of the story becomes the participant's answer to the question of the performing arts. music is part of the show that cannot be released, and even become a tool to sweep the audience. participants aw: “scenarios are also yes ... also, music that supports ...” participant s: “or if the music or the background fits the story or setting ... we might consider watching ...” participant es: “the next one is gamelan/music... or the music support... so, we know when the atmosphere of the show goes into the tense part... the sad part... the lighter part or the funny part...” participant rs: “the stage lighting or stage decoration is important... as well as the music because that's what builds up the scene when the show goes... and that builds our imagination too... “ participants argue that one of the important things in watching the performing arts is the atmosphere during the show. here is the answer from the participants. participant aw: “i think because it feels different atmosphere... then the usual/popular show... there is an atmosphere or momentum that fits me at that time... or i got something from that show... that's what makes it addictive...” factors influencing the intention …… (sri bramantoro abdinagoro) 101 participants es: “after watching, of course, we want the atmosphere to be better... yes, the mood... the feeling... meaning that there was a burden of being lost... well, this momentum is good...” participants bn: “... because of the time we watch, we will get carried away so that the saturation and bored can disappear instantly...” participants argue that one of the reasons they watch the performing arts is for entertainment. this becomes an impulse to watch. here is the answer from the participants. participant sub: “the rest is yes... it is looking for entertainment only... if we understand or the message until according to our version... it is so entertaining ...” participant s: “according to us... entertainment element is much more important... let the audience lightly get entertainment...” participants es: “i would rather watch the happy ending story... so watch it... at least it should be memorable and entertaining... for example if the story is romantic keep happy ending... it's nice... happy we made it...” participant js: “i love stories interspersed with jokes, so not too serious... entertaining...” place or leisure becomes one of the reasons to watch the performing arts. some become obstacles, but some are important for consideration is for entertainment. here is the answer from the participants. participants aw: “no time, anyway the distance of the house and the venue is too far away, i am in cikarang... while the show is in jakarta (tim / pasar minggu).” participant s: “if asked why not watch... yes ... the ticket price is relatively expensive times... also the place is far away, access to the venue is far away...” participants sub: “once in yogja because it was close, the location was not important. now if in jakarta, yes... must first see which theater who want an appear... “ participant es: “if the show location, for me no problem.... where the good theater appears...i’ll watching”. participant js: “i prefer to watch the theater in goethe and tim because of its convenient place and strategic access ...” this is the participant's answer to his wishes or plans after watching an art performance. the intention of watching again is an important factor for the performing arts. watch again, interpreted as watching the theater with another story, not to watch on the same theater story. some snippets of participant answers: participant aw: “yes... i think once you've finished watching you want to watch again for a different spectacle, that means just watch it once for one show...” participant sub: “if asked what would watch again... just watch once.... but if it means watching another theater... yes ... want to watch it again... because it will meet new things again... yes back to your first question... why did i watch the theater...” 102 journal the winners, vol. 18 no. 2, september 2017: 93-108 participant rs: “if asked what to watch again... o yes, it is sure... why? because of the curiosity of the storyline and the performances... also the most important is the atmosphere in the staging... the atmosphere of the stage... the curiosity... environment it is... “ participant js: “i will watch again as long as with the existing story of regional art elements, be it costumes, music or whatever there is an element of local art. what i like most is javanese art. because i am from java ...” participants bn: “if i am satisfied with the theatrical performance, i will come back to watch the next... “ participants as: “cheap tickets may be considered for the next theater, but if the tickets are expensive, maybe i will look for other entertainment...” the word "friend" is the word that comes up on the answer of the participant especially when asked why watching and why to want to watch again. some snippets of participant answer: participants wg: “watching other than likes, wom's influence from friends is also important... because at least have the same references that have been watching, let alone our friend's people who know enough and one genre with me... i have friends in suara pembaruan newspaper...” participants as: “this is my first time to watch the theater. in addition to entertainment, friends on campus often tell about the laskar pelangi theater and it makes me curious about their stories, so i watch...” participants sub: “used to watch because of friends e.g. from campus theater, telling me that where they will be play...” the theater name or theater brand becomes one of the considerations of participants in deciding to watch the performing arts, even a major reason for some participants. as in the following interview excerpt. participant s: “the actor or actress is important... see who the actor is... just consider watching it... next to the name or the title of the theater ... if for example know that bengkel teater rendra... we know it rendra ... “ participants sub: “watching is also driven by the theater's name. if the name of the theater is popular or famous or at least ever know, usually the desire to watch higher.” participants rr: “the reason i watch is in addition to the hobby of watching the theater, there are other factors ... like from the theater that appears is famous whether or not the theater, as well as its quality and integrity players ... “ moment or momentum is the answer that many participants expressed when asked fun watching the theater and the reason to watch the theater. moment or momentum is also associated with feelings of drift or dissolve the audience in enjoying the show. here are the participants' answers: participant aw: “that later during the show we find momentum or that's what i said at the beginning as the experience gets a different atmosphere… what is it... then dissolves in the show... to get a surprise... or sensation... personal experience...” participants es: “after watching, of course we want the atmosphere to be better ... mood... feelings atmosphere... meaning that previously there is a burden of being lost... well this momentum is good... “ factors influencing the intention …… (sri bramantoro abdinagoro) 103 participant wg: “what to expect? yes, i want something to get... so i wait for my moment to dissolve it... if asked what... hard.... that's something subskill... because it depends on each interpretation ...” participants respond that they feel they have more advantages, such as feeling more intellectual and more having a class, self enhancement or can be said as self-image if watching the theater than by watching other types of spectacle. here is the participants’ answer about self-image. participants aw: “such performances become more serious... more profound... so by watching it makes me feel... what is it... self-enhancement or an improvement for myself, so is... feeling more than just watching a regular show... “ participant s: “but i think the theater has an own-segment... general education is high so it's easy to digest the show... if watching it... it's so feel higher... than watching the other... more intellect is... higher grade...” participants rs: “watching the theater also feel there is something more... most do not feel more exclusive, more intellect is.... watching the theater also needs knowledge... comprehension... contemplation.... “ getting satisfaction is one of the people's goals in watching the performing arts. here is the participants’ answer to the question about satisfaction. participant rs: “after watching the expected course of satisfaction... satisfaction can watch for fun... “ participant rr: “what to look for from watching the theater is satisfaction, which can make a person more relaxed and relaxed, like a sense of being reborn...” participant bn: “what i expect from watching the theater is satisfaction... because we are watching to seek entertainment and get rid of saturation, so after we finish watching, we feel be fresh again... “ participants argue that word of mouth (wom) as one of their reasons for them to watch the performing arts. one indication of the occurrence of wom is the act of sharing stories. here are the participants' answers: participant es: “after watching i like to share... about the experience of watching... i am a person who likes to tell stories... so sharing that story interesting me... then convince people with the story...” participant wg: “watching other than likes, wom's influence from friends is also important... because at least have the same references that have been watching, let alone our friend's people who know enough and one genre with me...” participant js: “not to mention the other theater. how do people want to watch if only with the promotion of word of mouth? we see every theater always watching certain people only.” want to relax is the participants' answers to questions related to their wishes and expectations while enjoying the performance of the performing arts. here are the participants' answers: participants aw: “some words that i think represent art performances or theater... entertainment ... realism or satire... relaxation... message... the show itself (play)... “ participant s: “i think the theater connotes/synonyms with: entertainment, comedy, realism, relaxation, sadness, a message. “ 104 journal the winners, vol. 18 no. 2, september 2017: 93-108 participants rr: “what to look for from watching the theater is satisfaction, which can make a person more relaxed and relaxed, like a sense of being reborn...” conclusions from the exploration results with at least 16 keywords or phrases obtained, the researcher analyzes and classifies the keywords and phrases with the same meaning and understanding that existed in each word. there are 8 (eight) constructs formed based on these keyword groupings. the eight constructs are; the first is researcher classifies stories/narrations, messages/missions, and companion music in the construct of the variable “theater play”. this is the main content in the performance or performing arts services. in general, the main content of the show is packed by the director that is to deliver messages/missions are woven into a story/narrative. to live and communicate the message/mission, it is accompanied by accompanying music that helps to provide and reinforce stories and messages/missions or code that can be received by the audience. the second is the researcher classifies the actors/players and the name/brand of theater in one variable of the “theater reputation”. based on the results of the exploratory study, the audience generally considers who the actors/players will play in the show and consider who theater will be performing or in other words the name or brand of the theater. the researcher assumes that the good actor/performer and theater name is the theater's reputation. the third is entertainment, relaxation, and self-image, researcher grouped in “goal achievement” variable. this is a strong reason people watch, which has a goal. in the exploratory study, it is found that the purpose of watching people is to get entertainment and relaxation combined into entertainment, as well as to get a self-image (selfenhancement). for example, it is found that watching theater performing arts; a person feels more enhanced in his class, feels more intellectual than watching a movie. the fourth is the atmosphere and place or comfort of the place is grouped in a variable “theater atmosphere”. theater atmosphere is formed from the atmosphere that is awakened both in the room while watching and the condition of the place where the show is comfortable. so this is the reason people to watch theatrical performances. the fifth is one keyword becomes its own variables namely, “satisfaction”. satisfaction is the result of the perceived audience after watching the performance art. the sixth is the sense of drift/soluble, moment/momentum is grouped into one variable that is “flow”. flow is the feeling of the audience who feel soluble and lost in watching the performing arts. the results of the exploratory study, indicating the flow of respondents / spectators feel dissolved and drift, awakened together the atmosphere created during the show, the audience also awaits the moment/momentum dissolve or get learning. the seventh is “the intention of watch again”. while still referring to the concept of repurchase intension, but avoiding misunderstanding, researchers do not use "watch intention" because it can be interpreted to watch on the same story or theater in the previous spectacle. the intention to watch again is understood that the audience will be watching another show on another story or theater, not on the same story because the nature of the theater spectacle is unique. it is felt by the audience only once at a certain time and location. the eighth is “word of mouth” that refers to the intention to disseminate information to others or to encourage friends to watch the show. the summary of the results of the exploratory study can be seen in table 3. the results of this exploratory study at the next stage of the research will be the input of the research model. factors influencing the intention …… (sri bramantoro abdinagoro) 105 table 3 summary of exploration study results keyword variabel story/narration theater play messages/mission music actors/players theater reputation theater name/brand entertainment goal achievement relaxation self-image atmosphere theater atmosphere place/leisure keyword variabel satisfaction satisfaction drift/melt flow moment/momentum keyword variabel watch again intension to watch again wom wom friend references akdede, s. h., & binatli, a. o. 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(2000). business research methods (6th ed.). usa: the dryden press, harcourt college publishers. microsoft word 05_agus eko nugroho_trade policies.doc journal the winners, vol. 2 no. 1, maret 2001: 38-46 38 trade policies and the export performance of indonesia, 1983-1997 agus eko nugroho1 abstract article figures out trade policies and performance of indonesia in 1983-1997 by presenting introduction, a brief review of international trade theory, the exchange rate policy, and trade promotion export-led performance. it is concluded that the government has promoted the export-increase of manufacturing exports in 1990. keywords: trade policies, export performance abstrak artikel membahas kebijakan perdagangan dan kinerja indonesia pada tahun 1983-1997. dalam artikel ini disajikan pendahuluan, penjelasan singkat teori perdagangan internasional, kebijakan perdagangan saham, dan kinerja promosi perdagangan eksport. disimpulkan bahwa pemerintah telah meningkatkan ekspor indonesia pada tahun 1990. kata kunci: kebijakan perdangan, kinerja ekspor 1 staf pengajar fakultas ekonomi, ubinus, jakarta trade policies and the export performance… (agus eko nugroho) 39 introduction as in other developing countries, the export performance of indonesia plays an important role to the fluctuation of the economy. in the late of instance, the massive increase in world prices greatly contributed to the rise in indonesia’s export earnings and therefore, the high growth of gdp over 1970 – 1981, that was 8.6% annually. by contrast, the world recession in 1982 and 1983 reduced the demand for indonesia’s oil export as well as other commodity exports. consequently, the decrease in indonesia’s export resulted in the slow growth of gdp. in the period of 1982 – 1986 the growth of gdp dropped to just 4.01% (hill, 1996). concerning substantial role of export to the economic growth, since 1983 indonesia has started to promote trade deregulation which includes simplifying port and custom procedures and reducing non-tarif in favour of tariff barriers. as a result, the trade deregulation has been observed to have a significant contribution to the rise in non-oil exports. nowdays, the high growth rate of non-oil export is mainly contributed by two factors. the first factor is the rapid increase in the exports of wood products. the second factor is mainly due to the strong export performance of textile and footwear products. this article aims at analyzing the major trade promotion in indonesia and its relationship with the export performance during the period of 1982 – 1997. the period of analysing focusing on the pre-crisis period of 1997/1998 is to insulate the impact of the crisis to the volatility of indonesia’s export performance, since this study is trying to analysis the relationship between the indonesian trade policy of the export performance. the method used in this study is descriptive analysis which only focuses on the review of the relationship between indonesia’s trade policies and the overall trend of its export. discussion a brief review of international trade theory as in many textbooks of international economics, international trade between countries occur mainly because of different resources endowments across countries. a country, for instance, may lagerly have a particular resource such as natural oil and limited supplies of timber, while another has large supplies of timber but lacked reserves of natural oil. therefore, there two countries can obtain mutual benefits by conducting international trade beetwen each other. such, benefits often refer to the concepts of the comparative advantage of international trade that was originally developed by david ricardo (1817). however, that concept is only succesfull in explaining the overall benefit of international trade beetwen countries, in which, it cannot show the effect of international trade on the income distribution within countries. krugman and obstfeld (1994) argue two reasons that the international trade has strong effect on the income distribution. firstly, factors of production move costly from one industry to another and secondly, industries employ production factor differently. consequently, eventhough, the presence of international trade likely results in a shift in a country’s production process, it may increase the demand for a particular factor of production factor differently. consequently, journal the winners, vol. 2 no. 1, maret 2001: 38-46 40 eventhough, the presence of international trade likely results in a shift in a country’s production process, it may increase the demand for a particular factor of production and reduce the demand for others. as result, international trade may generate the reduction in the welfare of some other groups within each nation. since there are different benefits among economic participants in international trade, barriers of such tend to exist in the real world. according to literature, protection of international trade usually take place when a group of economic participants has enough political role to establish barriers against foreign competitors. there are various reasons as to rationalize the presence of trade barriers. one of important reasons is to maintain domestic government programs because spesific programs require a protection against international competitors. in developed countries, for example, the protection of national food security is one of important reasons to establish international trade barriers. differently, in most developing countries the protections of their infant industries are the main argument of such barriers. furthermore, there are also various ways in which developing countries can protect their infant industries against foreign competitors, involving both tariff (tbs) and non-tarif barriers (ntbs). in the case of tariff barriers, most developing countries usually set lower tariff rate on imported raw materials rather than final commodities. the main objective is to encourage domestic productions and also because infant manufacturing industries. such protectionism is well known as import substituting industrialization is originally inspired by the concept of export pessimism that firstly introduced by prebisch (1950) and nurkes (1961). there are two main arguments of export pessimsm. firstly, if all developing countries adopt export promotion strategies, there will be insufficient market demand for their manufactured export in developed countries. secondly, advanced countries will impose a high protection of their domestic market against manufactured products from developing countries. recently, most economies suggest, however, that the infant-industry-argument of protection as a strategy of industrialization has turned out to be an ineffective policy because such a protection will not be able to improve the competitiveness of the protected industry. indonesia, for example has protected automative and strategic industries against foreign competitors for more industries are still inefficient, industries against foreign competitors for more than a decade, but these industries cannot significantly improve their competitiveness. these industries are still inefficient, compared to the same industries in developed countries. not surprisingly, their products mostly focus on domestic market and not for international market. this case is known as a pseudo infant industry which means that protected industries have nothing to do entrepreneurs , technological and managerial skills. shortly, many trade restriction just provide a place for inefficient to survive but they cannot make industries running more efficient (krugman and obstfeld, 1994). however, not all industilization among developing countries has failed in their economic development. a small group of developing countries in east asia has experience a rapid growth industrialization that focused toward foreign rather than domestic market. these countries are often refered to as the newly industrializing countries (nics) which include south korea, hongkong, taiwan, and singapore. the difference between nics and import-substuting industrialized countries is that nics allow international competitors to engage competitions in their domestic markets. even though, nics have not followed a strictly free trade, the rate of protection in these countries are much lower than those in most developing countries (liu, 1994). trade policies and the export performance… (agus eko nugroho) 41 the successful story of nics in promoting their manufacturing sectors has been observed to have a large impact on the change in the industrialization strategy among other developing countries. many developing countries that had earlier followed the import-substituting strategy have started to open their economy. then the export-oriented-industrialization strategy have started to open their economy. the export-oriented-industrialization (eoi) becomes the main strategy of industrialization in most developing countries. this has also been driven by the world bank’s programs which include technical assistance and loans for trade liberalization of developing countries. by 1995, world bank has allocated more than us$ 20 billion for more than 60 developing countries to promote the trade liberalization through structural and sectoral reforms (salvatore, 1988). another succesfull story of eoi strategy can also be traced through the rapid economic growth of other asian countries. the asean-4 (indonesia, malaysia, thailand, and voetnam) has also achieved the annual economic growth of 6.0% in 1990. these countries since the mid1980s, have promoted the privated-sector-led-economic policy with a special attention to improve foreign trade and investment. beside as a result of this strategy, according to parker (1994), such a rapid manufacturing industrialization is also reinforced mainly by two blessing events. the first event was the plaza accord that has made the south asian labour-intensive manufactured industry is much more competitive than japan, korea and taiwan. the second event was steady growth of world trade following the 1982-1983 recession that has provided a strong demand for southeast asian manufacturing exports. the exchange rate policy the presence of international economic integration indicates that countries are much more interdependent which implies that booms or recessions in one country rapidly spills over to other countries through trade flows and monetary integration. the asian monetary crisis is a simple example, in which, the large depreciation of thai bath in the early of 1997 immediately caused the large depreciation of other asian currencies (south korea, malaysia, philipines and indonesia). for this reason, the exchange rate management plays a crucial role to macroeconomic policy of countries. theoretically, there are three ways in determining the exchange rate: fixed, managed-float and flexible exchange rate system. although, in terms of policy, the view of what the exchange rate regime is right remains a debatable issue. monetarist, for instance, suggest that the freefloating exchange rate system is the best policy because the central bank of a country may fully concentrate to control upon domestic money supply. in contrast, others argue that free-float exchange rate system is implausible because the volatility of exchange rate has been observed to be responsible for macroeconomic instabilities. based on this reason, some also point out that managed-float exchange rate system is much more appropriate policy for developing countries in maintaining a competitive exchange rate is often reffered to justify the importance of the managedfloat exchange rate system. a competitive exchange rate has proved to be a powerful instrument for macroeconomic stability and thus promoting development. the importance of managed-float exchange rate system, is also supported by southeast asian experience. in the 1990s. singapore has greatly enjoyed the low inflation, a stable growth of monetary supply and real effective exchange rate. this achievement is followed by its neighbours (indonesia-malaysia), although with different levels (islam and chowdhury, 1997). journal the winners, vol. 2 no. 1, maret 2001: 38-46 42 in the pre crisis period of 1978-1998, indonesia established the managed-float exchange rate system, in which, the government of indonesia actively intervened the exchange market in order to maintain the rupiah competitiveness against a basket of curriencies, this policy was carried out by approximating a 5% depreciation against the us dollar and maintaining a slightly higher domestic investments (fischer and reisen, 1993). the exchange rate policy has been observed to be one of major sources affecting the rapid growth of indonesia’s exports. according to hill (1996), the large devaluation in march 1983 and novermber 1986 (figure 2) and it was accompanied by the trade and banking deregulation are the major determaints of the rapid increase in exports, the devaluation of 1986, the export of indonesia steadly increased in the period of 1986 – 1997. figure 1 the rupiah exchange rate and export performance, 1982 – 1997 source: the indonesian financial statistic, bank indonesia (various issues) following the indonesian currency crisis of 1997, there has been and awareness that the policy of gradual depreciation and maintaining domestic interest rate above internatipnal level is not really, obvious. the reason is because such a policy tended to attract not only foreign direct investment but also short-term portfolio investment of foreign the temporary current account deficit, this will then lead to the rise in the vulnerability of the economy toward external shocks, such as the large sudden devaluation of thai bath in the early 1997. under this circumtance, the indonesian government should have large enough foreign exchange reserves that are commited to maintain the expected level of the rupiah exchange rate. following the thai bath crisis of 1997, since the indonesia government was reluctant to use its foreign reserves to defend the parity, rather it moved from managed-float to the free-float exchange rate system, the rupiah exchange rate depreciated massively. for this reason, the dramatic depreciation of most southeast asian trade policies and the export performance… (agus eko nugroho) 43 curriences makes us to rethink the stable exchange rate achievement under managed-float exchange rate system. trade promotion export performance the downfalls of world oil prices since 1982 and it’s impact to the flower growth of the oil-financed growth decade. in response to such a situation, the government of indonesia has promoted the export – led growth strategy. since 1989s, there have been extensive reductions in the trade barriers of indonesia (table 1). most export taxes have been reduced and the structure of tariff has become the primary instrument of import protection. many economics agree that the deregulation packages have a significant impact on the increase in the competitiveness of export. (nasution, 1994 and hill, 1996). generally, the impactof trade promotion to the indonesian export performance can be seen by the structural change in the indonesia’s export was dominated by primary products: agriculture oil and gas. the share of oil and gas accounted to 71,8% of total exports in 1980, where the share of manufacturing sector was just 2,4 %. however, since 1989 the share of manufacturing exports has been larger than the share of oil and gas export, in 1996 the share of manufacturing export stood at 64,5 %, compared to the share of oil and gas export that was only 23,04% of total export (figure 2). figure 2 the indonesian export share of agricultural, oil and gas, and manufacturing products 1980-1996 journal the winners, vol. 2 no. 1, maret 2001: 38-46 44 it is important to note, however, that the effective rate of protection of indonesia is still highest, compared to the other east asian countries. the study of world bank (1994) indicates that in the manufactured industry, korea and malaysia have effective rate of protection of 28% and 23%, respectively, while indonesia is still the average of 50%. this means that domestic firms which are 50% less efficient than their international competitors will be able to survive in domestic market. the high effective rate protection also tends to create an anti-export bias, which means that reseources are drawn from internationally competitive exporters toward domestically oriented firms. therefore not surprisingly, the most of indonesia’s industries that enjoy a high effective rate of protection are inward-oriented, such as automotive, food processing and engineering industries. in terms of protection policies, restrictive import licences are the most prevalent non-tarif barriers in indonesia. after the october-1993 deregulation package, nine restrictive import licenses have covered about 398 products (department of trade and industry, 1993). the trend of production, protected by ntbs focuses mainly on the protection of agricultural commodities. even though, in the period of 1989 to 1992 ntbs significantly dropped to 10% in the agricultural sector, the restrictive import license in this sector remainds high, compared to other sector. the negative impact such as trade to promote a higher value added of downstream industries leads to the misallocations of resources. theoretically, in a small open economy the restriction of international trade can create the problem of domestic distortion: the endogenous distortion and the policy-induced distortion jonshon (1965). this theory can be traced through the indonesia case of export restriction on the log export. the ban on log export since 1992 has pressured the domestic price of log that increases an incetive for log processors. this policy has failed to encouraged the primary objective of raising the value added of wood processing such as woodworking and furniture productions, because such a restriction has been proved to increase the activity of plywood mills. this means that this policy has only been successful in capturing the international tropical plywood industry from japan and korea (dick, 1991). in the manufacturing sector, the production of food beverage and tobbaco have the most restrictive import licenses. in 1992, for instance, the restrictive import licenses of this industry was 58,7% of total manufactured sector. consequently, the high restrictions through ntbs strongly lead to inefficient production process and the inward looking orientation of this industry. not surprisingly, the amount of indonesia’s processed food export is very small. world bank (1994) estimates that indonesia’s processed food export was just us$ 430 million in 1992, that was just 1-2% of non-oil exports. this situation was very contrast to which in singapore where at the same time, the value of processed food export was over five times indonesia’s. table 1 production coverage of restrictive import licensing, 1989-1992 (%) policy instruments exchange rate 1. on march 30, 1983, rupiah was devaluated by 28% from rp907/usd; since then the exchange rate has been made more flexible. 2. on september 12, 1986, rupiah was devaluated by 31% from 1,134 to rp1,644/usd monetary policy 1. on june 1, 1983, financial reform was launched including rmoval of credit and rate celling for stat banks operations, a reduction in the scope of credit program and introducing of new market-oriented instrumens of monetary control. trade policies and the export performance… (agus eko nugroho) 45 2. deregulations packages were announced on december 1987, october 1988, december 1988, march 1989, february 1991, dan may 1993 which were focus to enchange fnancial efficiency and developing the capital market through reducing barries to entry. 3. improve monetary management to control inflation and to curb exchange rate speculation. 4. removal of central bank’s direct credit and major reduction of economic sector cove red by subsided “priority credit” in january 1990. trade policy 1. on july 1993 and october 1993, general reduction of nominal tariff. 2. on may 2 1990, july 1993, october 1993 policies permit exporters. these policies permit exporter and suppliers of inputs for exporters to bypass the import licensing system and import tariff. 3. major deregulation of import licensing system announced in december 1986, january 1987, may 1990, july 1992, and october 1993. 4. major removal of ntb’s general reduction in tariff rates launhed on may 1990, july 1992, and october 1993. these are also covering simplification of licensing procedures in trade, manufacturing, health, and agricultural business. 5. further removal of ntb’s general reduction of import tariff and reopening of several. concluding discusion following the end of the oil-financed growth decade, the government of indonesia has promoted the exports-led growth strategy. the trade promotion has been observed to have a significant impact on the increase in manufactured exports in the 1990s. however, indonesia’s export and import regulation remains high. the main reason of the protection tends to create the misallocation of resources. in manufacturing sector, the productions of food bevarage and tobacco have the most restrictive import licences. as a result, the high protection has generated the high cost of production and the inward-looking orientation of many indonesia’s food processing industries. as a consequence industries cannot compete in the world market. the managed-float exchange system also plays a significant role on the increase in the manufacturing exports in 1990s. however, the necessary condition for the managed-float exchange rate policy the government should has large enough foreign exchange reserves to maintain the parity of the rupiah exchange rate. this is because this policy tends to attracts the short term portfolio of foreign investment that was fragile toward exchange rate speculations, leading to the increase in the vulnerability of the indonesian economy toward the external shocks such as the thai bath crisis of 1997. journal the winners, vol. 2 no. 1, maret 2001: 38-46 46 references department of and trade and industry. 1993. the indonesia trade regulation and export guidance. jakarta: department of and trade and industry. dick, j. 1991. forestry land use, forest zoning and deforestation in indonesia, article for state ministry for population and environtment (klh) and the environmental impact management agency (bapedal), for un conference on environment and development. fischer, b and reisen, h. 1993. liberalising capital flows in developing countries: pitfalls, prerequisites and perspective. paris: oecd. hill, hall. 1996. the indonesia economy since 1966: southeast asia’s emerging giant. cambrige: university press. islam, i. and chowdhury, a. 1997. asia pasific economies: a survey. london: routledge. jonshon, h.g. 1995. “optimal trade intervetion in the presence of domestic distortion.” in r. caves et.al, (1996) eds. trade, growth, and balance of payment, ran mcnally. krugman, p.r. and obstfeld, m. 1994. international economics: theory and policy. third edition. new york: harper collins college publishers. liu, pak-wai. 1994. “recent development and future prospect of the indonesia economy” in you c. kim (ed). the southeast asian economic miracle. new jersey: transaction publishers. parker, s. 1995. trade and investment in southeast asian development” in you c. kim (ed). the southeast asian economic miracle. new jersey: transaction publishers. salvatore, d. 1998. international economics. sixth edition. new jersey: prentice hall. world bank, “indonesia: stability, growth and equity in repelita vi”, world bank report no. 12857-ind, may 1994. *corresponding author p-issn: 1412-1212 e-issn: 2541-2388 47 the winners, 22(1), march 2021, 47-55 doi: 10.21512/tw.v22i1.7001 transformative tourism breakthrough in post pandemic: an enigma or eclipse kristianus oktriono* language center, english department, faculty of humanities, bina nusantara university jl. kemanggisan illir iii no. 45, kemanggisan, palmerah 11480, indonesia koktriono@binus.edu received: 27th january 2021/ revised: 16th march 2021/ accepted: 16th march 2021 how to cite: oktriono, k. (2021). transformative tourism breakthrough in post pandemic: an enigma or eclipse. the winners, 22(1), 47-55. https://doi.org/10.21512/tw.v22i1.7001 abstract the development of tourism in indonesia had entered a critical period, especially during the uncertain covid-19 pandemic, which affected the tourism industry both economically and socio-culturally. workers and stakeholders suffered as the multiplier effect of the covid-19 outbreak. as preparation for dealing with these conditions, the tourism industry strove to adapt with a transformative business model for its sustainability. in this context, the research proposed a transformative business model for the tourism industry so that stakeholders had an adaptive and innovative frame of mind post-pandemic. the model pinpointed on personalization, closed loop, asset sharing, usage-based pricing, collaborative ecosystem, and agility as the key features. this qualitative research used case study that aimed to explore major aspects of an inspirational business model from various industries that had survived over the decades. the results describe applicable business patterns as a contribution to the tourism industry. it is suggested that tourism stakeholders focus more on developing innovative business strategies postpandemic. keywords: tourism industry, tourism breakthrough, covid-19 pandemic i. introduction indonesia is renowned as an archipelago country. it is the largest archipelago in the world with five biggest islands, namely: sumatra, java, kalimantan, sulawesi, and papua. with a total of 17.508 islands and 6.000 inhabited islands, indonesia offers natural beauty and cultural richness. moreover, its diverse cultural and natural resources become main attractions for domestic and international tourists. indonesia is supported by biodiversity and non-living such as interesting cultures, historical sites, heritage, beaches, ecotourism, geo-parks, and nightlife. the diversity of these resources has great potential to develop in the tourism industry by involving local community. these potential elements play an important role in building the economic level. one of the strategic issues for tourism development is how to increase the tourism contribution in developing the welfare of the society, especially people at tourist destination areas (lpem, 2018). the characteristic of tourism is the intangibility has also influenced the tourist to visit the destination (di matteo & cavuta, 2016). hence, tourism planning is devised continuously to achieve the objectives (martins, 2018). furthermore, the ministry of tourism explains that the tourism sector contribution to the national gross domestic product (gdp) has reached 9% or idr 946,09 trillion in 2014. consequently, tourism is considered as one of the priority sectors in national development in the mid-term development planning period 2014-2019 (haryana, 2020). the research highlights the problem of business survival modeling, especially in terms of the tourism context. the research intends to propose a transformative business model for the tourism industry, so stakeholders have an adaptive and innovative solutions amidst the turbulent era. the research limits the stakeholder for tourism industry and government. the indonesian government has set the national medium term development plan to achieve a strategic focus on tourism development. government policies has also affected tourism policy (andriotis, 2001). the government plans a tourism development program that implements several strategies, such as developing the tourist market, developing a tourism image, developing tourism marketing partnerships, and developing tourism promotion. the aim is to achieve the targets of tourism growth in indonesia, which are to expand in local tourism businesses and increase the number of certified local workers. tourism contributes 48 the winners, vol. 22 no. 1 march 2021, 47-55 to the multiplier effect for the community (risman, wibhawa, & fedryansyah, 2016). table 1 presents several strategic targets in the national medium term development plan 2020-2024 in indonesia. in another context, the coordinating ministry of economic affairs has identified that pandemic significantly affects the tourism sector in many ways. ministry of law and human rights indonesia presents the numbers of tourist arrival as shown in table 2. it has decreased over the year and impacted the economic aspect. figure 1 presents the economic impacts of the pandemic on some sectors, including tourism and hospitality industry. the health protocol has restricted the tourists’ movement and led to a drop in international tourist influx. international tourist arrivals have dropped by 63% in the first quarter of 2020 ("kunjungan wisatawan mancanegara", 2020). besides, health issues related to the spread of the covid-19 virus have become the major focus. this epidemic has disrupted all planning and implementation of tourism strategies, from the central to the regional levels. the impact is experienced by tourism workers, ranging from the hotel line to the aviation industry. the impact of pandemic has made the employees in tourism sectors encounter a higher risk of loss or income reduction. tourism industry engages in downsizing through a layoff to anticipate internal condition or external factors. one of the external factors is related to the outbreak. in a bid to contain the spread of the outbreak, the government and industry need to take immediate action. moreover, the world travel and tourism council emphasizes four intertwined trends following the pandemic situation, namely demand evolution, health & hygiene, innovation & digitization, and sustainability (wyman, 2020). therefore, the research proposes table 1 national medium term development plan 2020-2024 strategic objective target 1 increase the number of foreign tourist visits to 20 million (2019) and 30 million (2024) increase foreign exchange in the tourism sector to 40 million usd optimize the potential of domestic tourists creating 10 priority tourism destinations that are international in scale and fulfil the principles of sustainable development, international standard management organization (dmo) and branding wonderful indonesia, 2 improve the quality of infrastructure and tourism product innovation, increased tour and travel competitiveness index (ttci) to rank 30 (2019) and 20 (2024) triple the number of mice events and special interest tours in the next 5 years. reaching the indonesian brand as the best destination in asean to do mice. 3 seize a special interest in tourism opportunities. for example, ecotourism, halal tourism, underwater sports, senior tourism, cruise ship tours and sailing ships. 4 human resources development in tourism table 2 international tourist visits in 2020 month/ region total asean total asia (excl. asean) total europe total america total oceania total africa grand total january 440.561 457.409 156.435 49.183 133.728 7.087 1. 272. 083 february 327. 468 222.035 153.551 42.947 99.243 5.142 863.960 march 192.199 128.608 77.687 19.847 45.932 2.877 470 .970 april 68.000 86.308 1.806 1.229 1.174 46 158.718 may 73.900 84.719 2.238 1.155 1.423 51 163.646 june 68.490 84.645 2.250 1.209 1.429 62 158.256 july 63.760 88.557 2.310 1.499 1.519 79 157.939 august 63.484 93.526 2.777 1.901 1.190 53 163.185 september 60.503 85.682 4.142 1.686 1.067 80 153.498 october 54.548 92.249 6.057 3.409 1.436 130 158.189 november december 49transformative tourism breakthrough.... (kristianus oktriono) a transformative business model for the tourism industry in general. it is expected to be a contribution for tourism industry practitioners to foresee tourism conditions holistically after the pandemic. figure 1 macroeconomic impacts on sectors world tourism organization (unwto) defines tourism as a social, cultural, and economic phenomenon which entails the movement of people to countries or places outside their usual environment for personal or business/professional purposes. tourism is supported by some elements that amplified tourism sustainability, especially at a destination. tourism consists of three elements including attraction, accessibility, and amenities (leiper, 1990; hall & page, 2010). these components have become important factors to attract all tourists to destinations (ismail & fatchur, 2019). the pull factors of 3as attract the tourists’ attention. tourism in certain areas requires a proper tourism component to be developed to meet the tourists’ need (andrianto & sugiama, 2016). unwto emphasizes sustainable tourism that takes full account of current and future economic, social and environmental impacts, meeting the needs of visitors, industry, environment, and local communities (danu & urmila, 2019). tourism, as an amalgamation of the business system, includes varies tourism services and covers a wide range of service and hospitality sectors. from the tourism chain perspective, technology can take part in services produced by the network with partners and competitors from various advantages (reinhold et al., 2019). the balanced consideration of sustainability dimensions involved the economy, environment and society. they form the basis of successful long-term development of a tourism destination (weber, 2019). firstly, the attraction is the most important element that motivates people to travel, which includes natural attraction and man-made attraction. it triggers tourists to the preconditions of travel and provides a sense of pleasure. in other words, tourism attracts the tourists to enjoy the experience and involves them in series of tourism activities. the aspect of accessibility is an essential key element for tourism development as it mediates tourists to reach the selected destination. the mode of transportation is provided to minimize travelling time, which is grouped into the land, air, and water transportation. at the same time, the optimization of time spent at the destination becomes extra value for tourist. lastly, the amenities and accommodation include extra facilities, cuisine, lodging facilities for the guest. these parts contribute not only to the aspect of comfortability for the guest, but also complementary to the attraction. in this sense, tourism offers an eclectic mix of memorable and ecstatic experience. in terms of macroeconomic aspects, five sectors are affected by the outbreak, namely: 1) manufacturing, 2) wholesale and retail trade, 3) repairs of motor vehicles and motorcycles, 4) transportation and storage, and 5) accommodation and services (world food programme, 2020). tourism-related activities fall under multiple sectors, which include: 1) other accommodation, food, and beverages, 2) transportation and storage, 3) real estate, and 4) company services. figure 2 exhibits the high impact of pandemic towards tourism labour market from the perspective of macroeconomic. figure 2 macroeconomic impacts on employment (world food programme, 2020) responding to its sustainability and pandemic condition, the tourism industry should focus to invent innovative ways to survive. the industry should keep up with the changing market condition that correlates with value and experience by the business model. casadesus-masanell and ricart (2010) define a business model as a reflection of the organization's 50 the winners, vol. 22 no. 1 march 2021, 47-55 strategy. the organization should construct the business model as the foundation before it deploys the strategy. casadesus-masanell and ricart (2010) pinpoint that each business has a unique model to achieve its outcomes. the interactions among business models are directed to value creation for tourist. they also highlight the choices and consequences in the business model, where choices consider the policies, assets, and governance. in this context, mkhize & ivanovic (2020) underline that the prevalence of creative culture, specifically in tourism, is a necessity to create new and original experiences. technically, it redefines the transformative journey that embodies the tourist's consumption and learning. meanwhile, the consequences should consider the aspect of flexible and rigid. arguably, the organization continues to strengthen the competitive advantages in the market. furthermore, johnson, christensen, and kagermann (2008) explicate that a business model should consist of four elements, namely: 1) customer value proposition, 2) profit formula, 3) key resources, and 4) key processes. in addition, casadesus-masanell and ricart (2010) highlight that a good business model should meet three criteria, which are: 1) the alignment with organization goals, 2) self-reinforcement, and 3) sustainability. therefore, stakeholders in tourism need to develop a digital-based business model to improve indonesia's tourism activities since the business constellation of the 21st century has changed drastically. in the digital age, business competition is no longer only about products or services, but also business model competition. ii. methods this is a qualitative research which, in epidemic, has made major changes in thinking, involving the subjective role of social scientists (wilson et al., 2020). the research uses a case study as a method. the theoretical basis emphasizes the agile guideline so that it directs the processes and meanings in this informative phenomenon. qualitative research has several characteristics such as being descriptiveanalytical (collecting and compiling data that provide in-depth explanations). tourism research, as emphasized by pritchard, morgan, and ateljevic (2011), is characterized by extraordinary growth and increased fragmentation. in addition, the nature of the research is inductive, which is initiated from the data or phenomena in the field which lays the foundation for the theory. as a strategy, the qualitative investigation can induce theory based on research, emphasize understanding from the perspective of its participants, and view social life as a result of interaction and interpretations (goodson & phillimore, 2004). data is retrieved from many sources, namely: 1) central bureau statistics indonesia (badan pusat statistik), 2) ministry of law and human rights, 3) ministry of national development planning, 4) world tourism organization (unwto), 5) world travel & tourism council (wttc), 6) ministry of tourism, 7) world food programme (wfp), 8) harvard business review, 9) ministry of finance in indonesia, and 10) relevant journals. the secondary data reference ranges from 2000 to 2020. data analysis is described analytically based on the case study model selected. the research proposes a transformative business model by kavadias, ladas, and loch (2016) to address the changing and demand linkage as presented in figure 3. the model describes the link between technology and the market. in this model, six elements characterize the successful innovation that relates both components. figure 3 transformative business model tourism system is represented by leiper’s diagrammatic model in figure 4 (hall & page, 2010). indonesia is supported by 3as as the destination region. technically, these aspects are also influenced by environmental elements such as physical, technological, social, cultural, economic, and political. in the perspective of tourism planning, it can be categorized into three levels, namely national, regional, and site levels (wijaya et al., 2020). as the pull factors, destinations received support from all stakeholders to infuse competitiveness advantage in tourism. therefore, management of tourism destinations is required since the number of tourists will increase so that the level of satisfaction becomes important (khuong & ha, 2014). specifically, it influences the tourist experience as memorable indicators (subadra et al., 2019). moreover, the tourism sector deals with high level of competition, so marketers must find the most effective way to maintain the level of competition, and increase the prestige of tourism destinations (katsikari et al., 2020). based on implementation outlook of global tourism in the next few years, it will be influenced by ten tourism megatrends from two sides, demand and supply (tutek et al., 2015) as shown in figure 5. regarding the demand, the trend is divided into five, namely: 1) silver hair tourist, 2) generation x & y, 51transformative tourism breakthrough.... (kristianus oktriono) 3) growing middle class, 4) emerging destinations, and 5) political issues and terrorism. while from the supply, the trend is divided into five which are: 1) technological revolution, 2) digital channels, 3) loyalty v.x.0, 4) health and healthy lifestyle, and 5) sustainability. figure 4 basic tourism system figure 5 tourism megatrends the population of senior citizens (aged over 60 years) in the world will increase, which predicts the 21% share of total international tourists (tutek et al., 2015). it encourages the emergence of a new tourism segment for the elderly. moreover, the segment of generation y is growing rapidly. it is expected to represent 50% of tourists in 2025. the focus of millennials on travelling is exploration, interaction, and emotional experiences. the middle class increased from 1,8 billion in 2009 to 3,2 billion in 2020. it is expected to increase to 4,9 billion in 2030. the increase in the middle class will change the tourists’ profile. the majority of the middle class derives from the asia pacific region which represents two-thirds of the global middle-class population and contributes to 59% of middle-class consumption by 2030. the growth and the characteristics of the middle class in selecting tourism destinations will encourage the expansion of many tourism destinations in developing countries such as indonesia. however, terrorism issues or tragic events can lead to major setbacks and decrease in the number of international visitors. the internet has changed the way travellers search and browse information, book and travel. the use of robots, interactive displays and smartphones will become an inseparable part of the tourism sector. as this backdrop, internet penetration encourages the start and end of holiday activities with the internet. now, tourists provide feedback after a vacation about their experiences through social media. in 2013, 65% of searching started from using a cell phone to a computer. furthermore, loyalty programs are integrated with travel experiences by combining speed in responding to dynamic digital environments. tourists are increasingly concerned about a healthy lifestyle and a key factor in improving health. due to higher awareness of health and rapid development of technology, the emergence of tourism businesses such as spa parlors are encouraged. sustainable tourism respects the local population and other tourists, cultural heritage and the environment. arguably, sustainable tourism development should balance three pillars, namely the social pillar, the environmental pillar and the economic pillar. iii. results and discussions tourism has the potential to become a contributor to foreign exchange, gdp and labour in indonesia. in 2017, the tourism sector contributed 5% to the national gdp, with a total foreign exchange of 200 trillion rupiahs and employed 12,28 million workers in the tourism sector. it has 15 million international tourist visits and 265 million trips by domestic tourists. this indirectly promotes the ‘wonderful indonesia’ branding which had received 103 awards from 2016 to 2018. in the investment sector, the trend of private sector investment continues to increase from 2013 to 2017 with the realization of usd 1,788 million. to streamline the investment program, tourism needs support in terms of government regulations. a common problem in indonesia is overlapping regulations, in which the government continues to perform deregulation efforts, including the tourism sector to increase growth. one example is the deregulation of visiting visas for 90 countries in 2015 changing to 169 countries in 2016 through presidential regulation number 21 of 2016 concerning free visa on arrival. based on immigration data for january august 2017, there are 49 visa-free countries whose tourist visits are less than 150 so they need a review. human resources in tourism is one of the important pillars in the implementation of national tourism. based on government regulation number 50 of 2017 (national tourism development master plan 2010-2025), the development of tourism human resources is one of the mandates that must be realized immediately. the ministry of tourism has assisted in the implementation of expert certification in the tourism sector. it continues to escalate in certification for the tourism sector workforce of 65.000 with an increase of 85% in 2017. at this point, the government should pay attention to the implementation of labour certification in the tourism sector, such as the adequate 52 the winners, vol. 22 no. 1 march 2021, 47-55 number of professional certification bodies. the government should pay attention to equal distribution throughout indonesia and the sufficient number of assessors for the implementation of competency tests. in accordance with the vision of the ministry of tourism and creative economy in 2020, the government has the initiative to create advanced, competitive, and sustainable tourism and creative economy in indonesia that prioritizes local wisdom in realizing an indonesia excellence known as sovereign and independent with a personality based on cooperation (kemenparekraf/baparekraf, 2020). ministry of tourism and creative economy for 20202024 aims to improve the contribution of tourism and creative economy to national economic resilience. the achievement of this goal is measured through three indicators, namely: 1) tourism foreign exchange value, 2) tourism gdp contribution, and 3) creative economy product export value. analysis of tourism problems is conducted by following the pillars of tourism development. based on law number 10 of 2009 concerning tourism, tourism development in indonesia includes four central points, which are: 1) tourism destinations, 2) marketing, 3) the tourism industry, and 4) tourism institutions. firstly, the main challenges in developing tourism destinations include: 1) climate change and natural disasters, 2) availability of connectivity, 3) inadequate infrastructure, 4) minimum community readiness around tourism destinations, and 5) insufficient ease of investment. in addition, the challenges in developing tourism marketing comprise the absence of a comprehensive market reference, unintegrated marketing communication strategy, unoptimized marketing partnership synergy, partial promotional activities, and the insignificant positive image. subsequently, the main challenges in the development of the tourism industry include the inadequate synergy of the tourism business chain, weak competitiveness of tourism products, the gap between the price level and tourism experience, insufficient tourism business partnerships, and insignificant development of environmental responsibility by tourism businesses. lastly, the main problems related to the development of tourism institutions encompass unequal strengthening of tourism organizations in the regions, limited tourism human resources and tourism higher education development, and ineffective coordination and synchronization of development across regions and sectors. the contemporary national tourism development directs towards the quality tourism experience. in line with this guide, unwto in practical guidelines for integrated quality management in tourism destination states that the quality of a tourism destination is the result of a process which implies the satisfaction of all tourism product and service needs, customers’ requirements and expectations, mutually accepted contractual conditions and the underlying implicit factors. unwto also emphasizes that quality represents three elements, namely professionals tools, management models, and powerful marketing tools. reflecting on the fundamental challenges, internal conditions, and external factors, the research proposes a transformative business model by kavadias et al. (2016). they selected and analyzed 40 new business models that have the potential to transform their industries with correlated features and success opportunity (kavadias et al., 2016). as a result, they pinpoint six key features of innovation success, namely: 1) more personalized products or services, 2) a closed-loop process, 3) asset sharing, 4) usage-based pricing, 5) more collaborative ecosystem, and 6) an agile and adaptive organization. offers for personalized products or services should be improved, which means they are customized representing customers’ personal and fundamental necessity. the tourism industry should leverage technology to reach the customers’ heart with affordable pricing. the next feature is a closed-loop process that minimizes overall resource expenses. in the tourism industry, expenses are related to reducing the potential cost at all levels of business, starting upstream to downstream lines. the characteristics of tourism, such as intangible, inseparable, and volatile have become the consideration in creating a product with minimum risk. the cost related to the supply chain should be managed from the perspective of demand and supply as effective as possible. next, regarding resource sharing, stakeholders optimized the utilization of sharing assets. the stakeholders does not only receive the benefit from the business, but also share the economic value to minimize entry barriers in industries. in this context, private housing minimizes the spread of the outbreak. in the end, tourism counterpart will contribute evenly to the user and provider. the subsequent feature focuses on the price. the customer will receive more intrinsic values beyond the extrinsic economic value. this feature is to provide an outstanding experience and a memorable journey that leads to satisfaction and loyalty. eventually, all stakeholders in the tourism industry strive to innovate the ideas for heterogeneous services. the other prominent feature is the collaborative ecosystem. in this frame, tourism should involve and empower all related stakeholders. the collaboration should make use of technology by innovating its utilization and reducing the risk. the last feature concerns a swift and adaptive organization. the tourism industry is trying to optimize the role of technology in making decisions quickly and accurately using an adaptive decisionmaking model that is more adaptive to market needs. it is certainly related to the value proposition for the user. the goal is to increase satisfaction not solely on the part of the user, but also from the service provider since it is associated with the allocation of costs and scarce resources. the next analysis is mapping of the six keys to successful innovation by involving technological 53transformative tourism breakthrough.... (kristianus oktriono) trends and market needs in the context of indonesian tourism as shown in figure 6. in terms of technology trends, tourism stakeholders in indonesia should map technologysupporting and infrastructure components such as internal conditions in each region in an integrated database. the function is to classify the advantages of indonesian tourism. this advantage is divided into two clusters, namely the customer portfolio and product portfolio. in the customer portfolio, indonesian tourism focuses on the personal, business and international segments. meanwhile, the product portfolio focuses on nature, culture, and man-made. in the interface of technology, tourism service providers focus more on delivering web and smartphone-based products and services. to support this, providers should optimize the use of artificial intelligence (ai), big data, and virtual reality to facilitate data access in every transaction. to maintain security, transactions are equipped with blockchain technology. presumably, the internet of things platform is an important concern since it simplifies exchanging data and information and connecting with authorized software for all counterparts. in particular, the decentralization of small medium enterprise (sme) in tourism is also an important pillar in the development of sustainable tourism. in terms of market needs in tourism, demand for products and services continues to increase annually. this is supported by the uniqueness of tourist destinations and the strength of their branding. this request is accommodated by service providers by paying attention to optimal costreduction, the use of asset sharing, and determining prices according to customized conditions. with this in mind, the value proposition is continuously maintained and increased with a digital-based collaboration system. from the provider’s perspective, market needs must be facilitated due to the changing behavior of tourists. the cost factor also considers the good congruence between the assets used, the costs incurred by all parties and the satisfaction received by the user. from a regulatory perspective, the government needs to establish strict rules and protect the safety and comfort of guests and business owners eventually. iv. conclusions the analysis of tourism challenges should address the pillars of tourism development. in law number 10 of 2009 about tourism, tourism development in indonesia involves four major points, which are tourism destinations, marketing, the tourism industry, and tourism institutions. tourism needs to transform from a destination perspective into the vital sustainable concept as the industry must adapt to the turbulence change. it needs providers’ capability to attract market interest. a transformative business model should represent the level of adaptability to all changes, both in terms of demand, supply, and technology. technically, six features are the main indicators of a transformative business model classified into a more personalized product or service, a closed-loop process, asset sharing, usage-based pricing, a more collaborative ecosystem, and an agile and adaptive organization. the research suggests tourism transformation as an industry. a transformative business model must display at least three out of the six key features of the transformative business model. the research proposes that these six features are integrated synchronously by government, industry, and community-based tourism. it is suggested that further research explore deeply in terms of the role of community-based tourism in realizing the vision and mission of sustainable tourism. figure 6 proposed transformative business model 54 the winners, vol. 22 no. 1 march 2021, 47-55 references andrianto, t. & sugiama, g. 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(2020, september 27). wttc launches new report on the future of travel & tourism in a postcovid world. world travel & tourism council. https://wttc.org/news-article/wttc-launchesnew-report-on-the-future-of-travel-and-tourismin-a-post-covid-world. microsoft word 04_haryadi sarjono_model pengkuran produktivitas.doc journal the winners, vol. 2 no. 2, september 2001: 130-136 130 model pengukuran produktivitas berdasarkan pendekatan rasio output per input haryadi sarjono1 abstract objective of this research is to find model which measure productivity. that measuring uses a ratio between effectivity of goal achievement as the certain quality level (output) and efficiency application of available source (input). it is concluded that (1) to increase productivity input and output are variable which must be controlled; (2) increasing productivity can increase competitive power of a company and also can a help a company to have a new investment. keywords: productivity measurement model, input, output, ratio abstrak artikel bertujuan menemukan suatu model yang dapat mengukur produktivitas. model menggunakan rasio antar efektivitas dan pencapaian sasaran sebagai input dan output. disimpulkan bahwa (1) unutk meningkatkan produktivitas, input dan output merupakan variable yang harus dimonitor, (2) kenaikan produksi dapat meningkatkan daya saing dan investasi perusahaan. kata kunci: model pengukuran produktivitas, input, output, rasio 1 staf pengajar, fakultas ekonomi, ubinus, jakarta model pengukuran produktivitas… (haryadi sarjono) 131 pendahuluan kata produktivitas memang telah menggema di indonesia akhir-akhir ini, apalagi dalam ekonomi yang semakin memprihatinkan akibat resesi yang berkepanjangan. usaha terus menerus dilakukan untuk meningkatkan produktivitas dan efisiensi di segala bidang agar ekonomi nasional dapat tetap berdiri tegak. apakah hanya dalam keadaan sulit saja, seperti sekarang ini usaha peningkatan produktivitas baru dilakukan dan mengapa dalam keadaan yang lebih baik seolah-olah dilupakan? seharusnya dalam kondisi baik atau tidak baik, usaha peningkatan produktivitas harus terus dilakukan dan menjadi kebiasaan. tanpa produktivitas, banyak hal mubazir dan konsumtif sehingga akan meningkatan biaya. ada empat perhitungan kelompok yang dapat diasumsikan akan meningkatkan produktivitas. 1. dengan sumber daya yang lebih sedikit, diperoleh jumlah produksi yang sama; 2. dengan sumber daya yang lebih sedikit, diperoleh hasil produksi yang lebih banyak; 3. dengan sumber daya yang sama, diperoleh hasil produksi yang lebih banyak; 4. dengan sumber daya yang lebih banyak, diperoleh hasil produksi yang jauh lebih banyak. masalahnya, bagaimana kita dapat mengetahui bahwa produktivitas, efisiensi, atau efektivitas tersebut naik? untuk itu, diperlukan tolok ukur sebagai pembanding. kita harus melakukan pengukuran dengan tolok ukur tersebut secara berkala kemudian membandingkan hasilnya secara teliti dengan memperhitungkan faktor yang mempengaruhinya pembahasan rasio produktivitas secara teknis, produktivitas merupakan suatu perbandingan antara output dengan input. formula produktivitas dapat dinyatakan sebagai berikut. produktivitas = output = o atau input i = efektivitas menghasilkan output efisiensi penggunaan input ukuran produktivitas tidak sama dengan efisiensi. efisiensi merupakan ukuran dalam membandingkan penggunaan input yang direncanakan dengan realisasi penggunaan masukan. jika masukan yang sebenarnya digunakan makin besar penghematannya maka tingkat efisiensi semakin tinggi. namun, semakin kecil masukan yang dapat dihemat, semakin rendah tingkat efisiensi. pengertian efisiensi lebih berorientasi pada masukan sedangkan masalah output kurang menjadi perhatian utama. journal the winners, vol. 2 no. 2, september 2001: 130-136 132 faktor yang mempengaruhi produktivitas pengukuran hanyalah langkah pertama dalam meningkatkan produktivitas. langkah kedua adalah mengenali faktor yang mempengaruhi produktivitas dan memilih faktor peningkatan yang sesuai pada berbagai situasi tertentu. faktor yang mempengaruhi produktivitas dibagi menjadi dua klasifikasi besar sebagai berikut. 1. faktor eksternal misalnya, peraturan pemerintah, persaingan dari perusahaan lain, permintaan dan konsumen. hal itu semua di luar kontrol perusahaan. dalam beberapa kasus, faktor luar dapat begitu kuat sehingga membuat tidak berartinya langkah manajemen dalam meningkatkan produktivitas. 2. faktor internal a. tenaga kerja misalnya, seleksi dan penempatan, pelatihan, rancangan pekerjaan, struktur organisasi, penyeliaan, penghargaan sasaran (management by objective/mbo), dan serikat pekerja. b. proses proses terdiri dari pemilihan proses, otomatisasi, aliran proses, dan tata letak. c. produk proses terdiri dari riset dan pengembangan, keragaman produk, dan perekayasaan nilai. d. kapasitas dan persediaan misalnya, pembelian bahan, persediaan, dan perencanaan kapasitas. e. mutu mutu sangat berhubungan dengan pernyempurnaan kualitas. metode perhitungan pengukuran produktivitas melalui pendekatan rasio output per input adalah pengukuran yang paling sederhana dan mampu menghasilkan tiga ukuran produktivitas sebagai berikut. 1. produktivitas parsial (partial productivity) sering juga disebut produktivitas faktor tunggal (single factor productivity), yaitu. menunjukan produktivitas faktor tertentu yang digunakan untuk menghasilkan keluaran. faktor tersebut hanya berupa hal berikut. a. produktivitas bahan baku = berdasarkan rasio output terhadap input bahan baku. b. produktivitas tenaga kerja = berdasarkan rasio output terhadap input tenaga kerja c. produktivitas material = berdasarkan rasio output terhadap input material. d. produktivitas energi = berdasarkan rasio, output terhadap input energi. e. produktivitas modal = rasio output terhadap input modal. model pengukuran produktivitas… (haryadi sarjono) 133 rumus produktivitas parsial sebagai berikut. produktivitas bahan baku = keluaran input bahan baku 2. produktivitas multifaktor (multi factor productivity) menunjukan produktivitas output bersih terhadap banyaknya input modal dan tenaga kerja yang digunakan. output bersih (net-output) adalah output total dikurangi output dalam proses produksi. jenis input yang digunakan dalam pengukuran ini hanya faktor tenaga kerja dan modal saja. rumus produktivitas multifaktor adalah sebagai berikut. produktivitas multi faktor = keluaran beberapa masukan 3. produktivitas total (total factor productivity) produktivitas ini menunjukkan produktivitas dari semua faktor yang digunakan untuk menghasilkan output. faktor tersebut adalah bahan baku, tenaga kerja, energi, modal, dan lainlainnya. rumus produktivitas total sebagai berikut. produktivitas total = total keluaran total masukan total produk tenaga kerja + bahan baku + energi + modal produktivitas total juga dapat diukur menggunakan rumus lainnya sebagai berikut. total keluaran produktivitas total = total masukan = penjualan + persediaan tenaga kerja + bahan baku + penyusutan + investasi pengukuran berdasarkan pendekatan rasio output per input dapat menggunakan satuan fisik dari output dan input (ukuran berat, panjang, isi dan lain-lainnya) atau satuan moneter dari output dan input (dolar, rupiah, pound sterling, dan lain-lainnya). contoh pengukuran pt bimo mempunyai data (dalam satuan juta rupiah) tentang output yang dihasilkan selama tahun 2000 sebagai berikut. journal the winners, vol. 2 no. 2, september 2001: 130-136 134 output • total (nilai produksi) = 2400 input • input tenaga kerja (upah dan gaji) = 300 • input material (bahan baku) = 400 • input modal = 500 • input energi (bahan bakar) = 300 • input lain-lain = 200 total input = 1700 produktivitas parsial • produktivitas tenaga kerja = (output / input tenaga kerja) = 2400 / 300 = 8,00 • produktivitas material = (output / input material) = 2400 / 400 = 6,00 • produktivitas modal = (output / input modal) = 2400 / 500 = 4,80 • produktivitas enemanrgi = (output / input energi) = 2400 / 300 = 8,00 • produktivitas input lainnya = (output / input lain) = 2400 / 200 = 12,00 terlihat nilai produktivitas parsial untuk tenaga kerja adalah 8,00 menunjukkan bahwa setiap penggunaan input tenaga kerja sebesar 1 juta rupiah akan menghasilkan output sebesar 8 juta rupiah (karena dihitung dalam jutaan rupiah). demikian pula dengan nilai produktivitas parsial untuk input lainnya, cara mencarinya sama dengan produktivitas tenaga kerja. produktivitas multifaktor produktivitas multifaktor = (output bersih/input tenaga kerja + modal) atau (output total – material dan jasa yang digunakan)/(input tenaga kerja + modal) diasumsikan bahwa pt bimo membeli semua material dan jasa termasuk energi, jasa lainnya seperti pemasaran, periklanan, pengolahan informasi, konsultasi, dan lainnya sehingga diperoleh output bersih = 2400 – (400 + 300 + 200) = 1500 produktivitas multifaktor = 1500 / (300 + 500) = 1500 / 800 = 1,875 nilai produktivitas multifaktor sebesar 1,875 dapat diartikan bahwa setiap penggunaan input tenaga kerja dan modal secara bersama sebesar 1 juta rupiah akan menghasilkan output bersih sebesar 1,875 juta rupiah. model pengukuran produktivitas… (haryadi sarjono) 135 produktivitas total produktivitas total = output total / input total = 2400 / 1700 = 1,41 terlihat bahwa nilai produktivitas total sebesar 1,41 rupiah dapat diartikan bahwa setiap penggunaan input total sebesar 1 juta rupiah menghasilkan output total sebesar 1,41 juta rupiah. contoh produktivitas lainnya. tabel 1 contoh performansi pt abc tbk 1992 – 1995 (dalam jutaan rupiah) keterangan 1992 1993 1994 1995 (1) penjualan (2) harga pokok penjualan (3) = (1) – (2) , laba kotor (4) = (1) / (2), produktivitas 351.743 (220.634) 131.109 1,59 319.554 (233.387) 86.167 1,36 433.944 (268.736) 165.208 1,61 427.539 (267.930) 159.609 1,59 keterangan • data penjualan cenderung naik , berarti tidak ada masalah eksternal • produktivitas cenderung stabil, hanya pada tahun 1993 agak menurun berarti terdapat masalah internal, mungkin berkaitan dengan efisiensi penggunaan sumber daya perusahaan. penutup simpulan 1. penggunaan pengukuran produktivitas berdasarkan rasio output per input adalah yang paling umum dipergunakan karena praktis, sederhana, dan mudah perhitungannya. 2. usaha peningkatan produktivitas dapat dilakukan dengan cara sebagai berikut. • input yang dikurangi, output tetap • input yang tetap, output meningkat • jumlah input yang dikurangi, output meningkat. output harus dilihat dari dua sudut. • mutu atau kualitasnya; • jumlah atau kuantitasnya. journal the winners, vol. 2 no. 2, september 2001: 130-136 136 3. bagi perusahaan, peningkatan produktivitas sangat penting, yaitu menghasilkan barang atau jasa yang lebih baik dengan biaya per unit yang lebih rendah. hal itu akan meningkatkan daya saing perusahaan dalam menunjang perkembangan perusahaan karena dengan peningkatan produktivitas perusahaan akan memperoleh keuntungan untuk invesatasi baru. daftar pustaka gaspersz, vincent. 1998. manajemen produktivitas total, strategi peningkatan produktivitas bisnis global. jakarta: gramedia. sinungan, muchdarsyah. 1995. produktivitas apa dan bagaimana. cetakan kedua. jakarta: bumi aksara. syarif, rusli. 1991. produktivitas. bandung: angkasa. yamit, zulian. 1996. manajemen produksi dan operasi. edisi pertama. yogyakarta: ekonisia fakultas ekonomi uii. microsoft word 08_ robertus tang_setting.doc penerapan model.....(robertus tang herman) 81 penerapan model multidimensional scaling dalam pemetaan brand positioning internet service provider robertus tang herman jurusan manajemen, fakultas ekonomi dan bisnis, universitas bina nusantara, jln. k.h. syahdan no. 9, palmerah, jakarta barat 11480 robertth@binus.edu abstract in this high-tech era, there have been tremendous advances in tech-based products and services. internet is one of them that have widened the world’s eyes to a new borderless marketplace. high competition among internet service providers has pushed companies to create competitive advantage and brilliant marketing strategies. they undertake positioning mapping to describe product or service’s positioning amongst many competitors. the right positioning strategy becomes a powerful weapon to win in the battle. this research is designed to create positioning mapping based on perceptual mapping. the researcher uses multidimensional scaling and image mapping to achieve this research goal. sampling is using non-probability sampling in jakarta. based on non-attribute approach, the research findings show that there is similarity between two different brands. thus, both brands are competing against one another. on the other hand, cbn and netzap provider reflect some differences to others. and some brands require some improvements in terms of network reliability. keywords: multidimensional scaling, positioning, internet service provider abstrak di era teknologi tinggi ini, telah banyak kemajuan dalam produk teknologi dan layanan berbasis. internet adalah salah satu dari kemajuan yang telah melebarkan mata dunia terhadap sebuah pasar baru yang tanpa batas. persaingan yang tinggi antara penyedia layanan internet telah mendorong perusahaan untuk menciptakan keunggulan kompetitif dan strategi pemasaran yang brilian. mereka melakukan pemetaan positioning untuk mendeskripsikan posisi produk atau jasa antara banyak kompetitor. strategi posisi yang tepat menjadi senjata ampuh untuk menang dalam kompetisi. penelitian ini dirancang untuk membuat pemetaan posisi berdasarkan pemetaan persepsi. peneliti menggunakan skala multidimensional dan pemetaan image untuk mencapai tujuan penelitian. pengambilan sampel menggunakan sampling non-probability di jakarta. berdasarkan pendekatan non-atribut, temuan penelitian menunjukkan bahwa ada kesamaan antara dua merek yang berbeda. dengan demikian, kedua merek bersaing satu sama lain. di sisi lain, cbn dan penyedia netzap mencerminkan beberapa perbedaan satu sama lain. dan beberapa merek memerlukan beberapa perbaikan dari sisi kehandalan jaringan. kata kunci: skala multidimensional scaling, positioning, penyedia layanan internet 82 journal the winners, vol. 11 no. 1, maret 2010: 81-93  pendahuluan teknologi informasi melalui internet telah membuka mata dunia akan sebuah dunia baru, interaksi baru, market place baru, dan sebuah jaringan bisnis dunia yang tanpa batas. disadari betul bahwa perkembangan teknologi internet, telah mengubah pola interaksi masyarakat, yaitu interaksi bisnis, ekonomi, sosial, dan budaya. hadirnya internet telah menunjang efektifitas dan efisiensi operasional perusahaan dan masyarakat. secara umum, dapat dikatakan bahwa internet relatif baru dikenal oleh masyarakat indonesia dan frekuensi pemakainya pun belum terlalu banyak. namun, perkembangan internet di indonesia telah menunjukkan perkembangan yang signifikan. menurut data apjii (asosiasi penyelenggara jasa internet indonesia), akhir tahun 2008 jumlah pengguna internet di indonesia sebanyak 40 juta orang dan jumlah pelanggan sebesar 6 juta orang. hal ini menunjukkan peningkatan yang signifikan dari tahun-tahun sebelumnya. persaingan yang sangat tinggi mendorong setiap perusahaan memiliki keunggulan bersaing dan strategi pemasaran yang tepat. selain marketing mix, perusahaan juga harus menyusun strategi segementing, targetting, positioning (stp) untuk dapat memenangkan persaingan. pada akhirnya, penempatan produk sesuai dengan keinginan konsumen adalah tujuan utama seorang pemasar. kondisi ini mendorong konsumen untuk bersikap lebih cermat dan selektif dalam menentukan produk atau jasa yang akan dipilih. strategi stp, khususnya strategi positioning yang tepat akan menstimulasi konsumen untuk memilih produk atau jasa yang akan ditawarkan berdasarkan keunggulan dan keunikan produk atau jasa tersebut untuk memenuhi kebutuhan konsumen. tujuan penelitian ini adalah untuk menghasikan sebuah perceptual map yang menggambarkan letak masing-masing produk dengan teknik multidimensional scaling (mds). perceptual mapping akan menghasilkan product positioning menurut persepsi para konsumen berdasarkan atribut determinannya. atribut merupakan faktor-faktor yang dipertimbangkan konsumen dalam menentukan persepsi terhadap suatu barang atau jasa dan pada akhirnya memutuskan pembelian atau penggunaan suatu produk jasa/tidak. berdasarkan hal tersebut, penelitian melakukan penelitian ini dengan judul “analisis pemetaan posisi merek internet service provider di wilayah jakarta dengan metode multi dimensional scaling (mds)”. indentifikasi masalah pada penelitian ini adalah untuk menjawab permasalahan-permasalahan, yaitu “bagaimana posisi setiap produk broadband isp secara relatif terhadap pesaingnya dalam pasar yang dipersepsikan oleh para responden?”, dan “bagaimana persepsi atribut broadband isp yang melekat pada setiap merek isp menurut persepsi responden?”. positioning adalah suatu cara produk didefinisikan oleh konsumen berdasarkan beberapa atribut penting-tempat yang diduduki produk dalam benak konsumen, dibandingkan dengan produkproduk pesaing. positioning suatu produk menuntut perusahaan untuk menanamkan keunikan manfaat dan diferensiasi merek ke benak pelanggan. posisi produk adalah seperangkat rumit atas dari persepsi, kesan, dan perasaan konsumen terhadap produk tertentu dibandingkan dengan produk-produk pesaing (kotler dan armstrong, 2008:311. prosedur untuk melakukan penempatan posisi yang tepat menurut hiam dan schewe yang dikutip oleh hasan (2008:202), yaitu menentukan produk-pasar yang relevan, pendataan kebutuhan pelanggan, mengidentifikasi pesaing, menentukan standar evaluasi, membuat perceptual map, mengidentifikasi kesenjangan posisi, merencanakan dan melaksanakan strategi positioning. persepsi adalah suatu proses, di mana sensasi yang diterima oleh seseorang dipilah dan dipilih, kemudian diatur dan akhirnya diinterpretasikan. sensasi datang dan diterima oleh manusia melalui panca indera, yaitu mata, telinga, hidung, mulut dan kulit, yang disebut juga sistem sensorik. input sensorik atau sensasi yang diterima oleh sistem sensorik manusia disebut juga stimulus (solomon dalam prasetijo, 2005:67). menurut schiffman & kanuk (2007:136), individu bertindak dan bereaksi berdasarkan persepsi mereka, tidak berdasarkan realitas objektif. jadi, bagi pemasar, persepsi konsumen jauh lebih penting daripada pengetahuan mereka mengenai realitas yang objektif. penerapan model.....(robertus tang herman) 83 internet service provider adalah perusahaan atau badan yang menyelenggarakan jasa sambungan internet dan jasa lainnya yang berhubungan. klasifikasi internet service provider (isp) dapat dibedakan berdasarkan kecepatan dan teknologi yang digunakan, yaitu (1) koneksi dial-up. koneksi internet ini menggunakan saluran telepon dengan kecepatan antara 40-50 kbps; (2) koneksi broadband, di mana akses ini lebih cepat dibandingkan dengan koneksi dial-up dan tidak mengganggu pemakaian saluran telepon. kecepatan antara 64 kbps hingga 2 mbps; (3) koneksi mobile broadband. koneksi ini merupakan akses layanan internet dengan menggunakan saluran telepon selular. kecepatan yang dimiliki beragam hingga 7,2 mbps. multidimensional scaling (mds) adalah salah satu teknik multivariate dalam golongan interdependence technique, mds adalah salah satu prosedur yang digunakan untuk memetakan persepsi dan preferensi para responden secara visual dalam peta geometri. peta geometri tersebut disebut spatial map atau perceptual map, merupakan penjabaran berbagai dimensi yang berhubungan. secara umum, mds dapat membantu untuk menentukan dimensi yang paling sering digunakan oleh responden dalam menilai suatu objek, berapa jumlah dimensi yang digunakan dalam penilaian tersebut, hubungan relatif dari masing-masing dimensi, dan hubungan objek yang diamati secara perseptual. metode penelitian desain penelitian penelitian ini merupakan jenis penelitian deskriptif dan eksploratif. kombinasi pendekatan eksploratif dan deksriptif dimaksudkan untuk saling menunjang, di mana pendekatan eksploratori dipakai untuk melakukan riset deskriptif. penelitian eksploratif adalah penelitian yang bertujuan menghimpun informasi awal yang akan membantu upaya menetapkan masalah dan merumuskan hipotesis. dalam penelitian ini, pendekatan eksploratori dilakukan untuk memilih beberapa isp yang akan menjadi objek penelitian serta atribut-atribut yang melekat pada isp tersebut. sedangkan penelitian deskriptif bertujuan untuk mengetahui nilai variabel mandiri, baik satu variabel atau lebih independen tanpa membuat perbandingan atau menghubungkan dengan variabel lain. dalam penelitian in, penelitian deskriptif digunakan untuk menjawab permasalahan-permasalahan utama yang ada dalam penelitian ini. unit analisis yang digunakan adalah individu (konsumen layanan internet service provider). time horizon yang digunakan yaitu cross sectional di mana data yang dikumpulkan hanya satu kali, dalam kurun waktu tertentu. operasional variabel penelitian penelitian ini menggunakan interdependence techniques, di mana kedudukan setiap variabel sama, tidak ada variabel bebas dan variabel terikat. yang diperiksa adalah interrelasi antarvariabel. dari interrelasi itulah diambil kesimpulan-kesimpulan sesuai teknik yang dipakai. variabel atribut yang digunakan adalah service (layanan), features (fitur-fitur), speed (kecepatan), coverage area (jangkauan area), network reliability (keandalan jaringan), price (harga). data diperoleh dari persepsi konsumen terhadap merek-merek isp dengan mengisi kuesioner yang telah disediakan dengan menggunakan semantic differential scale. jenis dan sumber data penelitian penelitian ini menggunakan jenis data kualitatif yang dinyatakan dalam bentuk kata, kalimat atau gambar. data kualitatif yang digunakan adalah data tentang positioning merek-merek isp di indonesia. sedangkan data kuantitatif digunakan untuk mengetahui peta posisi non atribut dan peta 84 journal the winners, vol. 11 no. 1, maret 2010: 81-93  atribut berdasarkan persepsi konsumen. sumber data yang dikumpulkan merupakan data primer yang berasal dari sumber asli dan dikumpulkan secara khusus untuk menjawab permasalahan penelitian, yaitu kuesioner dan data sekunder yang diperoleh dari sekumpulan sumber lain, baik dari dalam maupun luar perusahaan yaitu berupa data profil perusahaan, data dari referensi jurnal, internet, dan buku. teknik pengumpulan data untuk mendapatkan data yang akan diolah, maka teknik pengumpulan data yang dilakukan penulis dalam penelitian ini adalah (1) penelitian lapangan/riset lapangan (field research), yaitu wawancara, studi pendahuluan untuk menemukan permasalahan penelitian, dan kuesioner, menggunakan format pertanyaan yang menggunakan skala; (2) studi kepustakaan/riset kepustakaan (library research), yaitu studi yang dilakukan dengan cara mempelajari bukubuku wajib (textbooks), buku-buku pelengkap atau referensi, majalah, jurnal, laporan resmi dari perusahaan dan catatan kuliah yang relevan dengan permasalahan yang diteliti. studi kepustakaan ini dimaksudkan untuk memperoleh data sekunder dan landasan teori sebagai bahan untuk studi perbandingan. teknik pengambilan sampel untuk pengambilan sampel, penulis menggunakan teknik non probability sampling dengan teknik purposive sampling. teknik pengambilan sampel dalam penelitian ini dimaksudkan untuk menduga/ mewakili nilai suatu populasi. populasi dalam penelitian ini adalah pengguna rumahan broadband internet service provider (isp) di jakarta. berdasarkan data dari apjii (2001) jumlah pengguna internet rumahan lebih dari 700.000 orang. sedangkan lebih dari 30% pengguna berada di daerah jakarta sehingga populasi pengguna isp di wilayah jakarta ± 250.000 orang. berdasarkan tabel penentuan jumlah sampel dari populasi tertentu yang dikembangkan dari isaac dan michael, untuk tingkat kesalahan 5% jumlah sampel yang ditentukan sebesar 348 responden. metode analisis uji cochran digunakan digunakan pada data dengan skala nominal atau untuk informasi dalam bentuk terpisah dua (dikotomi) misalnya informasi “ya” atau “tidak”. penggunaan uji ini adalah untuk mengetahui keberadaan hubungan antara beberapa variabel. hipotesis pengujian: ho= kemungkinan jawaban “ya” adalah sama untuk semua variabel (asosiasi) ha= kemungkinan jawaban “ya” adalah berbeda untuk semua variabel (asosiasi) analisis multidimensional scaling (mds) berhubungan dengan pembuatan grafik (map) untuk menggambarkan posisi sebuah objek dengan objek yang lain, berdasarkan kemiripan (similarity) objek-objek tersebut. syarat pembuatan jumlah pasangan objek penelitian dalam data kemiripan (similarity), yaitu nomor pasangan yang diperbandingkan untuk memperoleh tingkat kemiripan atau keserupaan adalah n(n-1)/2, di mana n adalah total jumlah objek. pendekatan yang digunakan dalam analisis mds adalah similaritas (persepsi), yaitu (1) similaritas non-atribut (persepsi langsung). pendekatan ini menghasilkan peta persepsi non-atribut; (2) similaritas atribut (persepsi tidak langsung). pendekatan ini menghasilkan peta persepsi atribut. tabel 1 metode analisis berdasarkan tujuan penelitian tujuan alat analisis t-1 multidimensional scaling (mds) t-2 multidimensional scaling (mds) penerapan model.....(robertus tang herman) 85 rancangan implikasi penelitian rancangan implikasi hasil penelitian ini adalah sebuah positioning merek-merek broadband isp berupa peta persepsi yang dihasilkan berdasarkan persepsi responden, memberikan gambaran keadaan persaingan antar merek broadband isp di wilayah jakarta menurut persepsi responden, dapat menganalisis posisi setiap produk broadband isp di wilayah jakarta dari sisi atribut dan non-atribut pada peta persepsi, yang juga membantu perusahaan mengetahui atribut yang paling dominan dalam pemilihan sebuah merek broadband isp. diharapkan hasil penelitian ini dapat memberikan hasil yang memuaskan kepada telkom speedy pada pt telekomunikasi indonesia dan perusahaan penyedia jasa layanan internet lainnya dan juga para konsumen atau pengguna isp. dengan begitu, pt telekomunikasi indonesia dapat menempatkan produk dan menentukan strategi yang tepat dalam pasar persaingan antar merek broadband isp. hasil dan pembahasan uji validitas dan reliabilitas uji validitas untuk setiap instumen dilakukan dengan terlebih dahulu dicari harga korelasi antara bagian-bagian dari alat ukur secara keseluruhan dengan cara mengkorelasikan setiap butir alat ukur dengan skor total yang merupakan jumlah tiap skor butir. untuk menghitung validitas alat ukur digunakan rumus pearson product moment. uji validitas menggunakan tingkat kepercayaan 95%, di mana df = n-2. nilai n menggunakan data sebanyak 348 jawaban kuesioner. jadi nilai df= 346, selanjutnya dengan menggunakan rumus rtabel, maka didapatkan nilai rtabel = 0,165. dasar pengambilan keputusan pada uji validitas ini adalah sebagai berikut: jika rhitung positif, serta rhitung > 0,165 , maka butir pertanyaan tersebut valid; jika rhitung tidak positif, serta rhitung < 0,165 , maka butir pertanyaan tersebut tidak valid. nilai rhasil didapat dari hasil perhitungan korelasi pearson product moment antara skor tiap butir pertanyaan dengan skor total. dasar pengambilan keputusan pada uji reliabilitas adalah sebagai berikut: jika cronbach alpha > rtabel, maka dapat dikatakan reliabel; jika cronbach alpha < rtabel, maka dapat dikatakan tidak reliabel. jika cronbach alpha (r alpha) lebih besar dari 0.60, maka dinyatakan reliabel (santoso, 2005:251). tabel 2 uji validitas kuesioner awal no.pertanyaan 1 2 3 4 5 r hitung 0,308 0,335 0,349 0,342 0,460 r tabel 0,165 0,165 0,165 0,165 0,165 kesimpulan valid valid valid valid valid no.pertanyaan 6 7 8 9 10 r hitung 0,313 0,372 0,453 0,294 0,531 r tabel 0,165 0,165 0,165 0,165 0,165 kesimpulan valid valid valid valid valid sumber: hasil pengolahan validitas menggunakan spss 16.0 86 journal the winners, vol. 11 no. 1, maret 2010: 81-93  tabel 3 uji validitas kepentingan atribut no.pertanyaan 1 2 3 4 5 6 r hitung 0,490 0,538 0,323 0,602 0,412 0,419 r tabel 0,088 0,088 0,088 0,088 0,088 0,088 kesimpulan valid valid valid valid valid valid tabel 4 hasil uji realibilitas kuesioner awal reliability statistics cronbach's alpha cronbach's alpha based on standardized items n of items .701 .722 10 tabel 5 hasil uji realibilitas kepentingan atribut reliability statistics cronbach's alpha cronbach's alpha based on standardized items n of items .716 .734 6 analisis penentuan atribut hal pertama agar penelitian ini lebih efektif dilakukan pre test, dengan menggunakan cochran’s q sebagai alat analisis (non-parametric test-k related sample), diperoleh data sebagai berikut: tabel 6 uji cochran q test test statistics n 100 cochran's q 8.293a df 5 asymp. sig. .141 setelah melakukan uji cochran berkali-kali terhadap 10 atribut-atribut yang melekat pada internet service provider (isp), maka hasil akhir diperoleh 6 atribut yang melekat pada internet service provider (isp) dengan nilai cochran’s q sebesar 8.293, di mana q hitung < q tabel, atau 8.293 < 11.070 yang berarti ho diterima untuk menyatakan ke-6 atribut memiliki kemungkinan jawaban ya yang sama untuk semua atribut. dengan kata lain, ke-6 atribut dapat dianggap sah sebagai atribut sebuah internet service provider (isp). enam atribut internet service provider (isp) tersebut adalah service, network reliability, speed, coverage area, price, dan features. penerapan model.....(robertus tang herman) 87 averaged (rms) over matrices stress = .19642 rsq = .78964 configuration derived in 2 dimensions stimulus coordinates dimension stimulus stimulus 1 2 number name 1 speedy .0441 1.1032 2 firstmed .2071 .8864 3 cbn -1.5263 -1.0895 4 netzap 1.2750 -.9001 analisis posisi broadband isp secara relatif terhadap pesaingnya pendekatan non atribut memberikan kebebasan kepada responden untuk menyatakan persepsinya terhadap tingkat kemiripan antar stimulus (merek broadband isp) tanpa terikat oleh atribut yang telah ditentukan. dalam penelitian ini, akan digunakan pembuatan dengan menggunakan dua dimensi dengan mempertimbangkan beberapa faktor diantaranya adalah kemudahan penggunaan dua dimensi lebih tinggi dibandingkan denga tiga dimensi atau lebih. selain itu, interpretasi data dan konfigurasinya lebih mudah dilakukan dengan 2 dimensi (tabel 7). tabel 7 configuration derived in two dimensions berdasarkan hasil pengolahan data persepsi konsumen dengan menggunakan program mds, diperoleh peta posisi broadband isp dengan nilai stress sebesar 0,19642 dan index of fit (r²) sebesar 78,964%. berdasarkan pedoman nilai stress menurut johnson & wichhern (1982) termasuk dalam kategori “fair” (cukup) dan nilai index of fit sebesar 78,964% dikatakan telah memenuhi kelayakan (index of fit dikategorikan layak jika > 60%) (malholtra,1996). stimulus coordinates menunjukkan koordinat peta posisi dari masing-masing broadband isp yang dinyatakan dalam 2 dimensi. nilai tersebut menunjukkan kemiripan dan jarak nilai kedekatan antar merek broadband isp. dari stimulus coordinates ini, kemudian dinyatakan dalam konfigurasi peta posisi broadband isp yang dapat dilihat pada gambar 1. gambar 1 peta persepsi non-atribut broadband isp 88 journal the winners, vol. 11 no. 1, maret 2010: 81-93  pada gambar 1, terlihat bahwa merek speedy ternyata mempunyai keimiripan dengan firstmedia karena letaknya berdekatan dan berada dalam kuadran yang sama. sedangkan merek cbn dan netzap teletak jauh antara satu dengan yang lainnya, dengan kata lain kedua merek tersebut berbeda dengan pasangan merek yang lain. hasil analisis dari sudut dimensi 1 dan 2 dapat diuraikan sebagai berikut. pertama, dimensi 1, yaitu (1) speedy, firstmedia, netzap memiliki satu posisi golongan merek yang mempunyai kemiripan relatif sama; dan (2) sedangkan cbn memiliki posisi yang berbeda dengan pasangan kelompok lainnya. kedua, dimensi 2, yaitu (1) speedy dan firstmedia memiliki satu posisi golongan merek yang relatif sama; dan (2) sedangkan cbn dan netzap memiliki posisi berbeda dengan pasangan kelompok lainnya. ketiga, baik dilihat dari dimensi 1 maupun dimensi 2, responden menganggap bahwa speedy dan firstmedia memiliki kemiripan satu sama lain (dalam artian speedy mirip dengan firstmedia dan sebaliknya firstmedia mirip dengan speedy) sehingga merek firstmedia merupakan pesaing terdekat speedy begitu juga sebaliknya. sedangkan cbn dan netzap berbeda dengan yang lainnya. gambar 2 scatterplot of linear fit pendekatan non atribut juga mengukur tingkat homogenitas persepsi responden, dengan membandingkan antara bobot persepsi individu dengan bobot persepsi agregat. tingkat homogenitas persepsi ini ditunjukkan oleh grafik scatterplot of linear fit terlihat bahwa titik-titik koordinat membentuk kelompok koordinat yang konfigurasinya membentuk garis dari kiri bawah ke kanan atas. hal ini menunjukkan bahwa responden memiliki sikap homogen terhadap kemiripan antar merek broadband isp. gambar 3 derived subject weights penerapan model.....(robertus tang herman) 89 grafik derived subject weights menjelaskan tentang keselarasan responden dalam memberikan penilaian kemiripan. pada gambar 3, terlihat posisi ke 348 responden dapat dibentuk sebuah kelompok di bagian kanan bawah grafik menunjukkan bahwa penilain responden terhadap keempat merek broadband isp menunjukkan suatu konsistensi. berdasarkan nilai output yang dihasilkan spss, diperoleh nilai rata-rata bobot dimensi dari semua responden (subject weight). bobot dimensi ini menunjukkan nilai yang diberikan responden dalam melakukan pembedaan terhadap stimulus untuk setiap dimensi. nilai rata-rata bobot dimensi tersebut adalah sebagai berikut (1) dimensi 1 memiliki nilai bobot sebesar 0,4815; dan (2) dimensi 2 memiliki nilai bobot sebesar 0,1398. nilai rata-rata di atas menunjukkan bahwa nilai dimensi 1 lebih besar dari nilai rata-rata dimensi 2, yang berarti responden lebih mementingkan (cenderung menggunakan) dimensi 1 dibandingkan dimensi 2 dalam menentukan kemiripan antar merek (stimulus). analisis persepsi atribut yang melekat pada setiap merek broadband isp dalam pendekatan non atribut yang menghasilkan output peta persepsi non atribut hanya dapat memberikan informasi bahwa di antara merek-merek broadband isp tersebut memiliki kemiripan yang tergambar dalam posisi masing-masing merek dalam peta. namun, pada peta persepsi non atribut belum mampu memberikan dalam hal apa saja (atribut) merek-merek tersebut mengalami kemiripan (berdekatan). oleh karena itu, dibutuhkan penggunaan pendekatan atribut yang dapat membantu memperoleh informasi tersebut. dalam penelitian ini, analisis atribut dilakukan dengan menggunakan prosedur image mapping. data penilaian atribut merek-merek dijadikan dasar pembuatan image mapping. di dalam penelitian ini, digunakan bantuan nilai rata-rata (mean), yaitu dengan menjumlahkan pada setiap merek berdasarkan atribut yang telah dinilai oleh responden dengan skala 1 sampai 5 titik, di mana angka 1 menunjukkan sikap yang negatif dan angka 5 menunjukkan sikap yang positif. tabel 8 nilai rata-rata (mean) penilaian atribut oleh responden service speed price network reliability coverage area features speedy 3.50 3.42 3.02 3.54 3.79 4.01 firstmedia 2.96 3.32 3.41 3.58 2.91 3.98 cbn 3.40 2.70 2.79 2.72 3.68 3.20 netzap 2.83 3.29 3.32 2.89 1.99 2.90 berdasarkan tabel 8, dapat diperoleh sebuah pemetaan citra (image mapping) yang terdiri dari 6 atribut, masing-masing atribut memiliki nilai rata-rata (mean) untuk tiap merek yang diwakili oleh garis dengan warna-warna tertentu. berikut ini adalah keterangan garis yang dipakai (1) warna merah, mewakili merek broadband isp speedy, (2) warna biru, mewakili merek broadband isp firstmedia, (3) warna hijau, mewakili merek broadband isp cbn, dan (4) warna ungu, mewakili merek broadband isp netzap. dalam langkah selanjutnya, angka-angka kinerja atribut akan divisualisasikan ke dalam peta citra (image mapping) dengan menggunakan warna-warna yang telah dipilih untuk merepresentasikan setiap merek. hasil image mapping dapat dilihat pada gambar berikut (gambar 4). 90 journal the winners, vol. 11 no. 1, maret 2010: 81-93  gambar 4 image mapping berdasarkan peta persepsi non atribut (gambar 1) dan peta atribut yang dihasilkan melalui image mapping (gambar 4), dapat dilihat posisi antar merek broadband isp secara lebih jelas. hasil interpretasi kedua peta tersebut sebagai berikut. pertama, dimensi 1 pada persepsi non atribut menunjukkan bahwa merek broadband isp speedy, firstmedia dan netzap bersaing satu sama lainnya (posisi berdekatan di mana speedy, firstmedia dan netzap berada pada kuadran yang sama) sedangkan merek cbn berada posisi yang berbeda dengan merek lainnya. namun, pada peta persepsi non atribut tidak dapat menjelaskan dalam atribut-atribut apa merek-merek tersebut bersaing berdasarkan persepsi konsumen. oleh karena itu, peta atribut yang dihasilkan image mapping dapat membantu dengan interpretasi “ pada atribut speed (kecepatan) dan price (harga) terlihat garis berwarna merah, biru dan ungu berada pada posisi yang berdekatan. hal ini menunjukkan speedy, fisrtmedia dan netzap menempati posisi yang berdekatan, yang berarti pada atribut speed (kecepatan) dan price (harga) ketiga merek broadband isp tersebut saling bersaing.” kedua, dimensi 2 pada peta persepsi non atribut menunjukkan bahwa merek broadband isp speedy dan firstmedia berada pada posisi kuadran yang sama sehingga kedua merek tersebut saling bersaing. sedangkan merek broadband isp cbn dan netzap berada pada posisi yang berbeda dengan kelompok merek pertama. namun, dengan menggunakan image mapping dapat dilihat lebih jelas dalam atribut-atribut apa saja mereka bersaing. hasil interpretasi image mapping adalah “pada atribut network reliability (keandalan jaringan), terlihat garis berwarna merah dan biru saling berdekatan. hal ini menunjukkan merek speedy dan firstmedia menempati posisi yang berdekatan, yang berarti pada atribut network reliability (keandalan jaringan) kedua merek tersebut bersaing. begitu pula dengan atribut network features (fitur-fitur), di mana posisi speedy dan firstmedia juga saling berdekatan yang mengindikasikan kedua merek tersebut saling bersaing.” ketiga, selain pasangan merek tersebut, image mapping juga menunjukkan posisi merekmerek lain yang juga bersaing cukup dekat, namun tidak tercermin dalam peta persepsi non atribut. pada atribut service (layanan) dan coverage area (jangkauan area), terlihat garis berwarna merah dan hijau berada pada posisi yang berdekatan. hal ini menunjukkan merek broadband isp speedy dan cbn bersaing secara dekat pada atribut service (layanan) dan coverage area (jangkauan area). penerapan model.....(robertus tang herman) 91 berdasarkan hasil image mapping yang telah diuraikan diatas, dapat diketahui bahwa peta persepsi non atribut mengindikasikan merek-merek yang saling bersaing dan image mapping menjelaskan dalam atribut apa saja merek-merek tersebut bersaing berdasarkan persepsi konsumennya. dengan demikian, merek broadband isp yang memiliki posisi berdekatan pada atribut tertentu dapat dilakukan penentuan positioning nya. posisi broadband isp relatif terhadap persaingan berdasarkan persepsi konsumen yang diinterpretasikan pada hasil image mapping menunjukkan bahwa (1) merek speedy, firtsmedia dan netzap bersaing satu sama lainnya pada atribut speed (kecepatan) dan price (harga); (2) merek speedy dan firstmedia bersaing satu sama lainnya pada atribut network reliability (keandalan jaringan) dan features (fitur-fitur); dan (3) pada atribut service (layanan) dan coverage area (jangkauan area), merek speedy dan cbn saling bersaing satu dengan lainnya. positioning broadband isp positioning yang akan dijelaskan dalam penelitian ini mengenai masing-masing merek broadband isp, dapat dilihat dari hasil image mapping (gambar 4). speedy, berdasarkan hasil data responden mendapatkan nilai yang positif hampir pada seluruh atribut namun kurang pada atribut price (harga). firstmedia, berdasarkan hasil data responden mendapatkan nilai yang positif pada atribut speed (kecepatan), price (harga), network reliability (keandalan jaringan), features (fiturfitur). sedangkan cbn, berdasarkan hasil data responden mendapatkan nilai yang positif pada atribut service (layanan), coverage area (jangkauan area), features (fitur-fitur). dan pada merek broadband netzap, berdasarkan hasil data responden mendapatkan nilai yang positif pada atribut speed (kecepatan) dan price (harga). berdasarkan image mapping yang telah terbentuk barulah dapat diperbandingkan positioning yang dijalankan perusahaan melalui persepsi konsumen terhadap merekmerek broadband isp. tinjauan positioning broadband isp tinjauan yang dilakukan terhadap positioning setiap merek broadband isp yang menjadi objek penelitian ini adalah selain untuk mengevaluasi upaya positioning yang telah dilakukan sampai saat ini juga untuk menghasilkan kesimpulan apakah perlu dilakukan suatu repositioning atas produk tersebut. melalui tinjauan positioning yang dilakukan, positioning yang dilakukan oleh broadband isp speedy, firstmedia dan netzap sudah tepat sehingga perusahaan dapat terus menjalankan positioning yang ada saat ini. sedangkan melalui tinjauan positioning yang dilakukan, positioning yang dilakukan cbn kurang tepat. hal ini ditunjukkan berdasarkan positioning yang dimiliki cbn yaitu kualitas layanan sesuai dengan persepsi responden. namun, pada atribut keandalan jaringan yang tinggi tidak sesuai dengan persepsi responden. oleh karena itu perusahaan akan lebih baik melakukan perbaikan terhadap positioning yang ada saat ini. implikasi hasil penelitian berdasarkan penelitian yang dilakukan, penulis ingin mengetahui bagiamana posisi masingmasing merek broadband isp berdasarkan peta persepsi (perceptual map) yang dihasilkan oleh responden di wilayah jakarta. dengan meninjau bagaimana positioning yang dilakukan perusahaan dengan persepsi responden, maka dapat diketahui apakah positioning yang dilakukan perusahaan ini sudah tepat. setelah analisis dilakukan, maka didapatkan peta posisi non atribut yaitu merek broadband isp speedy memiliki kemiripan satu sama lain dengan broadband isp firstmedia. sehingga kedua merek tersebut merupakan pesaing terdekat. sedangkan merek isp cbn dan netzap berbeda dengan lainnya. sedangkan pada peta posisi atribut, diketahui bahwa atribut yang paling dominan dalam pemilihan sebuah merek broadband isp adalah atribut price (harga) dan speed (kecepatan). 92 journal the winners, vol. 11 no. 1, maret 2010: 81-93  simpulan berdasarkan hasil pengolahan data dan analisis data yang telah dilakukan, maka dapat disimpulkan sebagai berikut. berdasarkan analisis peta persepsi non atribut, terdapat 2 dimensi. pertama, dimensi 1, yaitu (1) speedy, firstmedia, netzap memiliki satu posisi golongan merek yang mempunyai kemiripan relatif sama; (2) sedangkan cbn memiliki posisi yang berbeda dengan pasangan kelompok lainnya. kedua, dimensi 2, yaitu (1) speedy dan firstmedia memiliki satu posisi golongan merek yang relatif sama; (2) sedangkan cbn dan netzap memiliki posisi berbeda dengan pasangan kelompok lainnya. ketiga, baik dilihat dari dimensi 1 maupun dimensi 2, responden menganggap bahwa speedy dan firstmedia memiliki kemiripan satu sama lain (dalam artian speedy mirip dengan firstmedia dan sebaliknya firstmedia mirip dengan speedy), sehingga merek firstmedia merupakan pesaing terdekat speedy begitu juga sebaliknya. sedangkan cbn dan netzap berbeda dengan yang lainnya. pendekatan atribut dilakukan dengan image mapping, di mana dapat memberikan dan menunjukkan dalam hal apa saja merek-merek tersebut mengalami kemiripan (bersaing), hasilnya sebagai berikut (1) merek speedy, firtsmedia dan netzap bersaing satu sama lainnya pada atribut speed (kecepatan) dan price (harga); (2) merek speedy dan firstmedia bersaing satu sama lainnya pada atribut network reliability (keandalan jaringan) dan features (fitur-fitur); (3) pada atribut service (layanan) dan coverage area (jangkauan area), merek speedy dan cbn saling bersaing satu dengan lainnya. dengan melakukan tinjauan perbandingan positioning antara positioning yang disampaikan oleh perusahaan dengan positioning hasil penelitian, didapatkan hasil sebagai berikut (1) pada merek broadband isp speedy, terdapat kesesuaian antara positioning yang dilakukan perusahaan dengan positioning hasil penelitian, yaitu pada atribut speed (kecepatan) dan service (kualitas layanan); (2) pada merek broadband isp firstmedia, terdapat kesesuaian antara positioning yang dilakukan perusahaan dengan positioning hasil penelitian, yaitu pada atribut speed (kecepatan) dan price (harga); (3) pada merek broadband isp cbn, terdapat kesesuaian antara positioning yang dilakukan perusahaan dengan positioning hasil penelitian, yaitu pada atribut service (kualitas layanan). tetapi, juga terdapat gap antara positioning yang disampaikan perusahaan dengan positioning pada hasil penelitian ini, yaitu pada atribut network reliability (positioning yang disampaikan perusahaan) dengan atribut coverage area (positioning cbn pada penelitian ini); (4) pada merek broadband isp netzap, terdapat kesesuaian antara positioning yang dilakukan perusahaan dengan positioning hasil penelitian, yaitu pada atribut speed (kecepatan) dan price (harga). berdasarkan hasil analisis positioning dan persepsi konsumen yang dilakukan dalam penelitian ini, maka saran yang dapat diberikan oleh peneliti adalah sebagai berikut. pertama, perusahaan speedy merupakan market leader dalam industri penyedia jasa layanan internet di indonesia. berdasarkan hasil penelitian, firstmedia mempunyai posisi yang sangat baik dan merupakan pesaing terdekat speedy. oleh karena itu, speedy harus memperhatikan dan terus memantau pesaing terdekatnya untuk mengantisipasi perpindahan pelanggan. kedua, pelanggan jasa layanan internet (isp) di indonesia mengutamakan atribut price (harga) dan speed (kecepatan) dalam menentukan persepsinya. speedy sangat unggul dalam atribut kecepatan dibandingkan merek lainnya sehingga harus terus mempertahankan strategi saat ini. namun, pada atribut harga, firstmedia berada di atas speedy. oleh karena itu, speedy harus berusaha memperbaiki kualitas harga yang ditawarkan agar dapat unggul dari pesaingnya dan mempertahankan posisi sebagai market leader. ketiga, perusahaan speedy disarankan untuk mempertahankan positioning yang ada saat ini karena sudah sesuai dengan persepsi konsumen. namun, sehubungan dengan peningkatan pangsa pasar yang diiringi peningkatan jumlah pelanggan, disarankan perusahaan harus memperbaiki kemampuan bersaing harga dan keandalan jaringan serta terus memantau posisi dan mengidentifikasi kesenjangan posisi secara berkala untuk menghindari terjadinya kesalahan postioning. penerapan model.....(robertus tang herman) 93 daftar pustaka hasan, a. (2009). marketing, edisi baru, yogyakarta: pt media pressindo. kasali, r. (2007). membidik pasar indonesia: segmentasi, targeting, positioning, cetakan kedelapan, jakarta: pt gramedia pustaka utama. kertajaya, h. (2004). hermawan kertajaya on differentiation: seri 9 elemen marketing, bandung: markplus&co dan pt mizan pustaka. kotler, p., dan armstrong, g. (2008). prinsip-prinsip pemasaran, edisi keduabelas, jakarta: erlangga. lab manajemen ekonomi, fakultas ekonomi jurusan manajemen. (2008). modul praktikum lab statistik, jakarta: universitas bina nusantara. prasetijo, t., dan ihalauw, j.j. (2005). perilaku konsumen, yogyakarta: andi offset. rangkuti, f. (2008). the power of brands, jakarta: pt gramedia pustaka utama. simamora, b. (2005). analisis multivariat pemasaran, jakarta: pt gramedia pustaka utama. simamora, b. (2008). panduan riset perilaku konsumen, cetakan ketiga, jakarta: pt gramedia pustaka utama. sugiyono. (2008). metode penelitian kuantitatif, kualitatif dan r&d, cv alfabeta. sukandarrumidi. (2006). metodologi penelitian: petunjuk praktis untuk peneliti pemula, yogyakarta: gajah mada university press. umar, h. (2005). riset pemasaran dan perilaku konsumen, jakarta: pt gramedia pustaka utama. *corresponding author p-issn: 1412-1212 e-issn: 2541-2388 15 the winners, 22(1), march 2021, 15-23 doi: 10.21512/tw.v22i1.6970 customer engagement in higher education: how important role of social media marketing, e-service quality, and e-satisfaction for generation z students? freddy pandapotan simbolon1*; lena yanti2 1,2management department, binus business school undergraduate program, bina nusantara university jl. kebon jeruk raya no. 27, kebon jeruk, jakarta 11530, indonesia 1freddysimbolon@hotmail.com; 2ly_yun@yahoo.co.id received: 18th january 2021/ revised: 17th february 2021/ accepted: 17th february 2021 how to cite: simbolon, f. p. & yanti, l. (2021). customer engagement in higher education: how important role of social media marketing, e-service quality, and e-satisfaction for generation z students?. the winners, 22(1), 15-23. https://doi.org/10.21512/tw.v22i1.6970 abstract the goal of the research was to examine the effect of social media marketing, e-service quality, and e-satisfaction on customer engagement. the research was conducted at bina nusantara university (binus) with a sample of 100 students from generation z using quantitative approach with data collection by distributing questionnaires to be analyzed using path analysis. the findings show that social media marketing and e-service quality significantly have impacts on e-satisfaction and customer engagement, while the e-satisfaction does not significantly impact customer engagement. therefore, the development of digital technology in higher education becomes the main focus for supporting services and activities. keywords: customer engagement, social media marketing, e-service quality, e-satisfaction i. introduction industrial era has changed from industry 3.0, which is indicated by the rapid development of computers, to industry 4.0 characterized by the massive use of digital technology. industry 4.0 is known as a technological transformation towards a physical-digital system in manufacturing which has a disruptive impact on the industry (yu & schweisfurth, 2020). the widespread use of social media such as instagram, youtube, twitter, wechat, facebook, and whatsapp in various fields of life is concrete evidence of the existence of digital industry era. currently, social media has not only been consumed by urban communities but has penetrated to remote villages. social media is an online social networking platform as a means of communication and connection between individuals which has attracted billions of users (wang, liang, mahto, deng, & zhang, 2020). social media has been used extensively in supporting corporate business interests (cheng & shiu, 2019; de zubielqui & jones, 2020) since it is considered to have an important contribution in improving the efficiency of customer relationship management (thomas, orme, & kerrigan, 2020; g. wang, zhang, & zeng, 2019). social media acts as a marketing tool to foster social interaction (yang & che, 2020) and brings many benefits, such as the ability to reach a wide audience, to drive sales through social commerce, and to build trust and reputation (sharma & bharathi, 2013). in the era of digital industry, customer engagement has a strategic role in achieving business success as an important transcendent relational idea. besides, it is shown as a tool to develop and improve relationships with customers (ting, abbasi, & ahmed, 2020). customer engagement has a significant place and plays an important role in understanding the consequences associated with customers, such as consequences related to loyalty (graffigna & gambetti, 2015). therefore, the company must keep striving for customer engagement as it creates a good relationship between the company and customers which leads to loyalty. it considered profitable for the company as it maintains the company's survival in the long run. customer engagement is a manifestation of customer behavior towards a particular company, brand or product that involves the company's efforts to empower and motivate customer contributions (ting et al., 2020). marketing science institute (2015) describes customer engagement as a manifestation 16 the winners, vol. 22 no. 1 march 2021, 15-23 of customer behavior towards brands outside of purchasing activities resulting from individual’s motivation such as word of mouth, recommendations, interaction between customers, blogging, writing reviews and other similar activities. meanwhile, according to so, king, and sparks (2014), customer engagement is a marketing activity with orientation towards customer behavior and psychology. bowden (2009) explains the concept of customer engagement as a process functions, which is connected to the role of trust, commitment and involvement in creating loyal and engaged customers. armstrong dan kotler (2015) state that customer engagement makes brands a meaningful part of conversations and consumers' lives by encouraging direct and sustainable customer engagement in shaping conversations, experiences, and brand communities. therefore, according to solomon et al. (2012), customer engagement is important to find ways to keep customers involved in the business after sales are made through customer referral programs or other means. most of recent business field uses social media as a marketing activity, including higher education. higher education has an important role in creating transformation to the digital industry, because of its position as an advanced research institution that plays an important role in building research and academic capacity that drives the national innovation system (jung, 2020). higher education can also play an important role in changing the landscape of digital transformation gradually and rapidly (jackson, 2019), influencing the human capital development pathway (pucciarelli & kaplan, 2016), providing important assurance of the quality of human resources through the creation and application of knowledge, as well as pillars important technological innovation and industrial transformation (wu & liu, 2021). one of the higher educations that have been actively utilizing social media is bina nusantara university (binus). instagram has been chosen to help develop communication and marketing under the account name of gabung_binus. instagram is an application for sharing photos and videos which, in indonesia, has as many as 63 million users (kemp, 2020). social media marketing is an integrated element of 21st century business that is useful for reaching new audiences and strengthening bonds with customers (felix, rauschnabel, & hinsch, 2017). the use of social media at binus is an effort to strengthen customer engagement. however, based on the observations made on 144 gabung_binus contents, it is known that student involvement remains low and less active due to a decrease by 37,4%. it indicates that gabung_binus instagram has not optimally been managed to maintain and improve relationships with students as customers, so it has not been effective in strengthening student engagement. oecd (2000) shows that student engagement is essential in influencing academic and career achievement. however, student engagement in various countries tends to be lacking. students who are more involved on campus will have a better level of understanding the concept, and are considered the key to overcoming low achievement, student boredom and alienation, and dropout rates (ahlfeldt, mehta, & sellnow, 2005; fredricks, blumenfeld, & paris, 2004; fredricks & mccolskey, 2012). it must be realized that currently students are dominated by generation z born during the development of the digital era, which is characterized as digital native being technologically savvy (bernstein, 2015; priporas, stylos, & fotiadis, 2017). social media becomes part of their daily life (ruangkanjanases & wongprasopchai, 2017). therefore, the proper use of social media for both marketing and service activities plays an important role in strengthening student engagement from generation z. this requires the campus to have adequate information technology support and competent staff to access and operate social media. in the digital industry era, social media marketing has an important role in building customer engagement. social media is an online service that supports social interaction between users through web or mobile-based publishing techniques which are accessible and extensible (cheng & shiu, 2019). social media uses advanced information and communication technology that offers users the ability to connect, communicate, and engage with other people (bullini orlandi, zardini, & rossignoli, 2020; kavota, kamdjoug, & wamba, 2020). social media is considered an effective channel to reach consumers at lower costs than conventional media such as print media, television, and radio (iankova, davies, archerbrown, marder, & yau, 2019). by using social media, marketers have the flexibility to choose how to carry out marketing strategies, including consideration of messages and activities to be carried out (ngai, moon, lam, chin, & tao, 2013; pham & gammoh, 2015). social media also provides a wider choice of companies to make customers more aware, motivated to buy, and to build sustainable relationships with brands, so social media can be used as a tool to increase consumer engagement (dissanayake, siriwardana, & ismail, 2019). social media has characteristics such as enabling bilateral communication and interaction as well as content creation that makes it different from traditional media (shawky, kubacki, dietrich, & weaven, 2019), which is useful for social marketers to build lasting relationships with customers, and is effective in driving change of long-term behavior (bannor, asare, & bawole, 2017; chen & shi, 2015). ashley & tuten (2015) and sashi (2012) have shown that the use of social media can encourage customer engagement. apart from having an effect on customer engagement, social media marketing has also been identified as having an effect on satisfaction (hanaysha, 2017; zoubi & al-harazneh, 2019). this leads to the first (h1) and second (h2) hypothesis. h1: social media marketing significantly impact 17customer engagement in..... (freddy pandapotan simbolon; lena yanti) customer engagement h2: social media marketing significantly impact e-satisfaction the development of digital technology has an impact on how services to customers are also mostly done electronically (e-service). according to elsharnouby and mahrous (2015), to create an e-service quality concept, information technology is needed including the web, information kiosks and mobile devices. quality service is also an important factor in encouraging customer engagement. service quality is an advantage offered to customers to satisfy their needs (keillor, wilkinson, & thomas, 2007). service quality is also related to the ability of a company or organization as a service provider to always improve the services to customers (perry & thomson, 2004), and the ability to understand customer needs and to exceed their expectations (hollins & shinkins, 2006) by showing totality, accuracy, and fulfilling what has been promised (andrews, boyne, law, & walker, 2012). there are five common dimensions used to measure service quality in various industrial sectors including in higher education institutions, namely tangibles, reliability, responsiveness, assurance, and empathy (zeithaml, parasuraman, & berry, 1990; chui, ahmad, bassim, & zaimi, 2016; đonlagić & fazlić, 2015). in higher education institutions, service quality shows the extent to which the service meet students’ expectation (sultan & wong, 2013). in general, students make assessment based on the perceived experience compared to their expectation (el alfy & abukari, 2019). in other words, service quality indicates the difference between students expectations and the service perceived (o’neill & palmer, 2004). today's universities have also developed electronicbased services. the quality of electronic services shows the extent to which customer expectations are fulfilled by online service providers (santos, 2003). electronic service quality includes all services along with information, agreements, fulfillment, and postsales services (xu, zeng, & he, 2017). researchers have shown that e-service influences customer engagement (dassanayake & senevirathne, 2018; vo, chovancová, & tri, 2020). in addition, chang, wang, and yang (2009), nasution (2019), ting, ariff, zakuan, sulaiman, and saman (2016), and vo et al. (2020) indicate that e-service has an effect on satisfaction. this leads to the third (h3) and fourth (h4) hypothesis. h3: e-service quality significantly impact customer engagement h4: e-service quality significantly impact e-satisfaction satisfaction in using online services (e-satisfaction) is also an important determinant of customer engagement in digital era. the concept of satisfaction which is generally accepted contains an understanding to fulfill customer expectations (martínconsuegra, molina, & esteban, 2007). in other words, satisfaction can be realized when customer expectations can be met. this is in line with the explanation from sumaedi et al. (2016) that customer satisfaction is a construct that represents a customer feeling favorable or unfavorable as a result from his assessment on the difference between the overall performance of the producer of goods or services and his expectations. likewise, jun, yang, and kim (2004) emphasize that consumer satisfaction is a comparison between expectations before buying with perceived product performance. rifai and wahyudi (2016) and vo et al. (2020) have shown that satisfaction affects customer engagement. thus, the fifth hypothesis (h5) can be formulated: h5: e-satisfaction significantly impacts customer engagement figure 1 theoretical framework based on the theoretical framework (see figure 1), the research aims to examine the effect of social media marketing, e-service quality, and e-satisfaction on customer engagement. the results are expected to provide an overview the important role of social media as a media to support marketing and service activities, especially for generation z students, and ultimately can understand its contribution in increasing student satisfaction and engagement. ii. methods the quantitative research aims to examine the effects of social media marketing, e-service quality, and e-satisfaction on customer engagement. the unit of analysis is the generation z of binus students who become a follower of gabung binus instagram. the time horizon is cross-sectional, which means that data collection is done only once, where the research period is usually in days, weeks or even months. the research target population are 42.305 generation z students born in 1998-2010 with an age range between 16 to 22 years old (hidayat & astuti, 2019). the research determines the sample size using the slovin formula with an error rate of 10%, and comes up with a sample of 100 respondents (ryan, 2013). 18 the winners, vol. 22 no. 1 march 2021, 15-23 data collection uses a 5-point likert scale questionnaire. the social media marketing scale is developed based on five dimensions, namely interaction, sharing of content, accessibility and credibility (elaydi, 2018; kim & ko, 2010). e-service quality scale consists of the dimensions of reliability and responsiveness (krishnadas & renganathan, 2019; kumar & dash, 2015). e-satisfaction scale has a single dimension adapted from boon-itt (2015); tang, tsai and wu (2015). meanwhile, the scale of customer engagement is developed based on the dimensions of enthusiasm, attention, and interaction (rather & sharma, 2017). each of these scales has been tested for validity and meets the requirements of the reliability test, where the social media marketing scale has alpha coefficient 0,857, e-service quality 0,836, e-satisfaction 0,794, and customer engagement 0,821. the data collection procedure is made using google form for making and delivering questionnaires to respondents with the consideration that the covid-19 pandemic remains ongoing. in the first stage, the questionnaires are sent randomly via email or whatsapp to 150 respondents identified as binus students. after all the respondents' answers have been collected, a selection is carried out to choose samples according to predetermined criteria, namely students who are categorized as generation z. data analysis to test the research hypothesis uses path analysis with regression techniques. path analysis makes it possible to test a model by determining the causal relationship between variables by applying multiple regression techniques (bordens & abbott, 2011). spss software is used to analyze regression. iii. results and discussions in the early stages, as shown in table 1, the questionnaires are distributed to 150 respondents to be further selected according to the specified criteria, namely generation z students of bina nusantara who became followers of gabung_binus on instagram. finally, 100 out of 150 respondents meet the criteria, with 43% male and 57% female. descriptive statistics in table 2 are used to show the relationship between variables and an overview of the research variable scores. the relationships between variables are all significant at 99% level of confidence (α = 0,01) with a correlation coefficient ranging from 0,625 to 0,750. the strongest relationship is correlation between e-service quality and e-satisfaction, while the lowest is the relationship between e-satisfaction and customer engagement. furthermore, the social media marketing variable scores are in the range between 2,5 to 5, an average of 4,2 and a standard deviation of 0,5. e-service quality ranges from 2,4 to 5 with a mean of 4,0 and a standard deviation of 0,6. e-satisfaction is in the range of 2,5 to 5,0 with a mean of 4,3 and a standard deviation of 0,7. meanwhile, customer engagement has a minimum of 2,0 and a maximum of 5,0 with an average of 3,7 and a standard deviation of 0,7. table 1 respondent profile respondent profile male female frequency % frequency % age 16-22 y.o. 60 40,0 76 50,7 23-26 y.o. 11 7,3 3 2,0 follower of gabung_binus instagram yes 43 28,7 57 38,0 no 23 15,3 27 18,0 table 2 descriptive statistics variables 1 2 3 4 1. smm 1,000 2. esq 0,682** 1,000 3. es 0,752** 0,750** 1,000 4. ce 0,697** 0,661** 0,625** 1,000 minimum 2,8 2,4 2,5 2,0 maximum 5,0 5,0 5,0 5,0 mean 4,2 4,0 4,3 3,7 standard deviation 0,5 0,6 0,7 0,7 ** p-value < 0,01 smm = social media marketing; esq = e-service quality; es = e-satisfaction; ce = customer engagement 19customer engagement in..... (freddy pandapotan simbolon; lena yanti) table 3 summarizes the results of path coefficients and its significance calculated from statistical software of spss to test the hypothesis. the research has two structural equation models. the first model with dependent variable e-satisfaction is influenced by social media marketing and e-service quality, while the second model with the dependent variable of customer engagement is influenced by social media marketing, e-service quality, and e-satisfaction (see figure 2). figure 2 path diagram the first model has a coefficient of determination (r2) of 0,671 which shows that the contribution of social media marketing and e-service quality simultaneously is 67,1%. the effect of social media marketing on e-satisfaction is indicated by path coefficient of 0,449 and t-value of 5,645 with significance or p-value of 0,000. significance value < 0,05 indicated that social media marketing has a significant effect on e-satisfaction (h1 is supported). path coefficient from the effect of e-service quality on e-satisfaction is 0,444 with sig. 0,000 < 0,05, which mean e-service quality has a significant effect on e-satisfaction (h2 is supported). the second model shows a coefficient of determination (r2) of 0,743 which mean that the simultaneous contribution of social media marketing, e-service quality, and e-satisfaction is 74,3%. the effect of social media marketing on customer engagement has path coefficient of 0,430 and t-value 4,005 with sig. 0,000 < 0,05, so it can be concluded that social media marketing has a significant effect on customer engagement (h3 is supported). furthermore, the effect of e-service quality on customer engagement is indicated by path coefficient of 0,329 and t-value 3,074 with sig. 0,003 < 0,05, which mean e-service quality has a significant effect on customer engagement (h4 is supported). while for the effect of e-satisfaction on customer engagement, the test obtains path coefficient 0,055 and t-value 0,465 with sig. 0,643 > 0,05, so that e-satisfaction has no effect on customer engagement (h5 is rejected). the results indicate that social media marketing through instagram is an important factor in influencing customer engagement and e-satisfaction of generation z students in higher education. it is implied that the ability of universities to effectively use social media for marketing has an impact in increasing student engagement and satisfaction when using campus’ online services. the finding is understandable considering that generation z was born during the development of the digital era (bernstein, 2015), known as digital natives who are technologically savvy (priporas, stylos, & fotiadis, 2017). generation z uses technology and digital devices extensively, and is close to social media in their daily lives (ruangkanjanases & wongprasopchai, 2017). therefore, the use of social media for universities as a means of marketing is now a necessity, because generation z will dominate the number of students on campus. the use of social media is in accordance with the characteristics of students from generation z whose life cannot be separated from social media. students have high expectation that universities can optimize the use of technology, so that the campus must be able to fulfill it. the concept of satisfaction refers to the conformity between expectations and perceived of service or product (jun et al., 2004; martín-consuegra et al., 2007; sumaedi et al., 2016), so that the optimizing social media for promotion and providing services to students has reached their expectation, satisfaction, which results in increased attachment. these findings also support previous findings that show social media marketing has a significant effect on satisfaction (hanaysha, 2017; zoubi & al-harazneh, 2019) and attachment (ashley & tuten, 2015; sashi, 2012). the results also indicate that e-service quality has a significant effect on e-satisfaction and customer table 3 path coefficients and t-values variables model 1a model 2b beta t-value sig. beta t-value sig. smm 0,449 5,645 0,000 0,430 4,005 0,000 esq 0,444 5,570 0,000 0,329 3,074 0,003 es 0,055 0,465 0,643 r2 0,671 0,743 ae-satisfaction as dependent variable; bcustomer engagement as dependent variable 20 the winners, vol. 22 no. 1 march 2021, 15-23 engagement. these findings confirm that the provision of quality of online services on campus will have a positive impact on increasing satisfaction and engagement. this is related to the characteristics of generation z, namely having a high involvement with digital technology on a daily basis. therefore, students have high expectations for the availability of quality online services on campus. students seem not interested in manual services that do not keep up with technological developments. online services for students include enrollment, course delivery, payment, course support, and libraries (sutarso & suharmadi, 2011). the campus does not ignore the growing trend in student demand as customers to provide services electronically (ataburo, muntaka, & quansah, 2017). universities should be at the forefront of online activities (kim-soon, rahman, & ahmed, 2014). the research also supports previous research which proves that e-service has a significant effect on satisfaction (chang et al., 2009; nasution, 2019; ting et al., 2016; vo et al., 2020) and engagement (dassanayake & senevirathne, 2018; vo et al., 2020). another research finding shows that e-satisfaction has no significant effect on engagement, so the satisfaction level with electronic services on campus does not have a significant impact on engagement. in the context of the research, student engagement does not depend on the level of satisfaction. it is more likely determined by the use of social media marketing and e-service by campus. therefore, student from generation z will be more engaged if the use of digital technology is optimized in the campus environment to support services and learning activities. this is in accordance with generation z characteristics which is naturally engaged to digital technology that influences their lifestyle (ruangkanjanases & wongprasopchai, 2017; yussof et al., 2018). iv conclusions the research aims to examine the effect of social media marketing, e-service quality, and e-satisfaction on customer engagement in higher education which specifically involves students from generation z. the findings of the research comes up with three highlights: 1) the positive and significant effect of social media marketing on e-satisfaction and student engagement, 2) the positive and significant effect of e-service quality on e-satisfaction and student engagement, and 3) no significant effect of e-satisfaction on student engagement. the research shows the important role of using digital technology in higher education which will determine the success and competitiveness of higher education institutions in the future along with the increasing number of students from generation z. digital technology is an important pillar in supporting higher education services and operations which in turn can increase student engagement. the research has come up with an implication that higher education will try their best to build digital technology to support learning activities and campus operations. generation z has begun to dominate the number of students in higher education, and the number will certainly get bigger, so they must immediately build a digital-based smart campus. conventional ways of carrying out campus activities must immediately be abandoned to meet the demands and expectations of students from generation z. higher education management who generally comes from generation x and y should quickly adjust and understand the needs of generation z. therefore, the development of digital technology will be the focus for higher education to be successful in a competitive environment. the research contributes to provide an insight into higher education institutions in which using digital technology optimally and effectively is an important key to managing students from generation z. digital technology that is well managed for social media marketing and services have a positive impact on student engagement. furthermore, higher student engagement will make a positive contribution to academic achievement and support the career development of students in the future. the research has a number of limitations that can be used as a basis for improvement for further research. the research scope is limited to binus university as a private university and generation z students as a sample, so that the generalizability of the findings cannot be widely applied to other campuses. having generation z as a sample will be beneficial as the basis for further studies, however, it limits the generalizability of the research since there might be some students who come from the previous generation. further research needs to take the object of research on several campuses and a larger number of samples so that the results can be broadly generalized. in addition, it is suggested that the further research considers the use of different data analyzes, such as structural equation modeling (sem) to obtain a more comprehensive analysis. references ahlfeldt, s., mehta, s., & sellnow, t. 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(2019). the impact of social media on customers’ loyalty toward hotels in jordan. international journal of business and management, 14(5), 123. https://doi.org/10.5539/ ijbm.v14n5p123. microsoft word 04_e. koestandar_free float.doc perlukah sistem nilai tukar free float… (e. koestandar) 25 perlukah sistem nilai tukar free float dipertahankan e. koestandar1 abstract article discuss the necessary in keeping free float exchange rate system that consist of exchange rate system, stock market, and crisis on rupiah exchange rate system. it also explain comparison of flexible exchange rate and fixed exchange rate, keywords: exchange rate system, free float abstrak artikel mengulas perlunya sistem nilai tukar free float dipertahankan, meliputi pendahuluan tentang nilai tukar pasar uang dan gambaran kritis nilai tukar rupiah. dijelaskan juga perbandingan sistem nilai tukar flexible dan fixed exchange rates, system nilai tukar tetap, mengambang, terkendali, mengambang, bebas, efektivitas, pelaksanaan, serta dampak kebijaksanaan nilai tukar free float. kata kunci: sistem nilai tukar, free float 1 staf pengajar fakultas ekonomi, ubinus, jakarta journal the winners, vol. 2 no. 1, maret 2001: 25-37 26 pendahuluan krisis nilai tukar mata uang yang melanda negara-negara asia sejak pertengahan tahun 1997 diduga merupakan bagian dari aktivitas pasar uang global. beberapa fakta dasar menunjukkan skala pasar uang global berkembang cepat sejak awal dekade sembilan puluhan. turn over pasar pasar uang global terus meningkat. pada tahun 1992 baru sekedar us$ 199,7 triliun atau us$ 832 miliar perhari, maka tahun 1995 telah mencapai us$ 295 triliun atau us$ 1,3 triliun per hari. laju pertumbuhannya sekitar 15 %-16% pertahun , jauh lebih tinggi dari kenaikan gnp di tiap negara. apabila dibandingkan dengan total perdagangan barang dan jasa pada tahun 1995 sebesar us$ 4,3 trilium, berarti hanya sekitar 1,5 % dari turn over pasar uang. demikian pula dibandingkan dengan nilai transakasi perdagangan saham di bursa seluruh dunia pada tahun 1995 sekitar us$ 21 triliun, berarti hanya 7,1 % dari turn over pasar uang. berdasarkan indikasi data ketiga, jenis pasar itu merupakan dampak dari instabilitas di pasar uang yang jauh lebih besar daripada dampak instabilitas perdagangan barang , jasa, serta saham. kecenderungan pasar uang global yang relatif tidak stabil diperkuat pendapat george soros dalam the theory of reflexivity. teori menyatakan pasar uang internasional sulit mencapai keseimbangan karena nilai tukar mata uang akan berfluktuasi di sekitar harapan para pelaku pasar uang. interaksi secara refleksif antarpelaku pasar uang menyebabkan pasar uang terus mengalami turbulensi. dengan demikian, turbulensi yang terjadi di pasar finansial regional asia diduga menjadi objek kegiatan spekulasi para pelaku pasar oleh institusi keuangan skala besatr yang diikuti spekulan lainnya. sementara itu, kondisi ekonomi negara-negara asia sebelum krisis mengidikasikan kelemahan yang mendasar, terutama thailand, indonesia, philipina, malaysia, dan korea selatan. diduga faktor fundamental ekonomi dan faktor efek penularan (contagion effect) merupakan faktor utama penyebab timbulnya krisis nilai tukar mata uang regional asia. faktor fundamental ekonomi yang terkait dengan resiko krisis mata uang , antara lain adalah current account, pinjaman luar negeri dan tingkat kesehatan bank. sedangkan, faktor contagion effect dapat terjadi melalui hubungan perdagangan (trade link) antarnegara. indonesia sebagai negara yang menganut prinsip ekonomi terbuka degan lali lintas devisa bebas tidak dapat menghindari contagion effect krisis nilai tukar asia. apabila tahap awal yang terjadi pada bulan juli 1997 adalah krisis nilai tukar rupiah, saat ini telah berkembang menjadi krisis ekonomi dan krisi kepercayaan. penelitian yang dilakukan bank indonesia mengindikasikan faktor yang mempengaruhi gejolak nilai tukar rupiah pada dasarnya dapat dilihat dari sisi permintaan maupun penawaran dolar di pasar valuta asing domestik. dari sisi permintaan, naiknya kebutuhan dolar, antara lain adalah adanya tindakan investor asing yang mengalihkan penanaman dananya ke luar indonesia, meningkatnya permintaan dolar karena jatuh temponya kewajiban luar negeri sektor swasta, meningkatnya transaksi spekulatif di pasar uang, kecenderungan menguatnya nilai tukar dolar sehingga mendorong investor mengalihkan dana mereka ke dalam mata uang dolar dan sensitifnya para pelaku pasar uang terhadap isu nonekonomi. di pihak lain, dari segi penawaran bergejolaknya nilai tukar rupiah, antara lain disebabkan berkurangnya pasokan dolar dipasar valuta asing karena terjadinya panurunan arus modal masuk, bahkan terjadi arus balik dana ke laur indonesia. sementara ini, pasokan dolar dari perlukah sistem nilai tukar free float… (e. koestandar) 27 hasil ekspor terbatas, bahkan tidak mencukupi permintaan pasar. oleh karena itu, intensi bank indonesia di pasar valuta asing dalam negeri menyebabkan volatilitas nilai tukar rupiah berfluktuasi sangat tajam hingga saat ini. krisis nilai tukar rupiah yang berkepanjangan sejak juli 1997 sampai saat ini telah melalui beberapa fase dilihat dari trend fluktuasi rupiah maupun langkah kebijakan yang ditempuh otoritas maneter dalan periode itu. pertama adalah fase contagion effect (juli 1997–awal agustus 1997), rupiah terkena imbas kebijakan sistem nilai tukar thailand sehingga otoritas moneter melakukan pelebaran band intervensi dari 8% menjadi 12% untuk menghindari penggunaan cadangan devisa. fase kedua adalah fase kepanikan (agustus 1997-januari 1998), otoritas moneter menghapus band intervensi dan memberlakukan sistem nilai free float. di samping itu, membekukan transaksi spbu dan menaikkan bertahap suku bunga sbi dalam rangka kontraksi uang beredar. dalam periode ini rupiah mengalami depresiasi terendah rp16.000,00/us$ pada 22 januari 1998. fase chaos (februari 1998-juli 1998) ditandai dengan terjadinya fluktuasi nilai tukar yang nampaknya berkaitan erat dengan gejolak suasana politik dalam negeri dan keraguan pemerintah atas program imf sehingga mencari alternatif penerapan currency board system (cbs). terhadap timbulnya gagasan cbs, para pelaku pasar nampaknya mengantisipasi positif sehingga nilai tukar rupiah mengalami depresi. fase keempat adalah fase efek eksternal (agustus 1998-desember 1998) antara lain, periode ini nilai tukar yen terhadap dolar melemah mancapai 1 us$ = yen 160 mengakibatkan rupiah terpuruk mencapai 1 us$ = rp 11.075,00 (agustus 1998). akan tetapi, periode ini terjadi nilai tukar yen terhadap dolar menguat kembali menjadi 1 us$ = yen 110 ( november 1998). periode ini dibarengi intervensi rutin bank indonesia. akan tetapi, nilai tukar rupiah hingga desember 2000 terus berfluktuasi, bergerak sekitar 1 us$ = rp 9.000-rp9.500. dukungan imf untuk melakukan restrukturisasi institusi keuangan belum menunjukkan indikasi terhadap perbaikan stabilitas nilai tukar rupiah dalam jangka panjang. di pihak lain, ketidakstabilan di bidang sosial politik sampai saat ini berdampak negatif terhadap rupiah sehingga nilai tukar rupiah menjelang akhir desember 2000 terus berfluktuasi berkisar 1 us$ = rp9.500,00. dengan demikian, kebijakan ekonomi yang ditempuh untuk mengatasi persoalan bergejolaknya nilai tukar rupiah sejak diterapkan kebijakan sistem nilai tukar free float 14 agustus 1997 tampak tidak efektif. berkaitan dengan hal tersebut kajian yang dilakukan dalam tulisan bertujuan mengidentifikasi faktor-faktor yang berpengaruh dominan terhadap efektivitas kebijakan sistem nilai tukar free float yang ditempuh untuk mengendalikan gejolak perubahan nilai tukar rupiah. journal the winners, vol. 2 no. 1, maret 2001: 25-37 28 pembahasan perbandingan sistem nilai tukar flexible exchange rates dan fixed exchange rate kebijakan ekonomi makro secara teoritis dapat ditempuh melalui fiscal policy, monetary policy dan foreign exchange policy. jadi, foreign exchange policy merupakan bagian dari kebijakan ekonomi makro. pelaksanaan foreign exchange rate dapat ditempuh melalui instrumen devaluasi, kontrol deviasi atau penetapan kebijakan sistem nilai tukar mata uang. teori sistem nilai tukar mata uang pada dasarnya terdiri dari dua bagian, yaitu flexible exchange rate dan fixed exchange rate. namun demikian, saat ini telah berkembang sistem nilai tukar yang merupakan hybrid dari kedua sistem nilai tukar tersebut seperti, pegged exchange rate, crawling peg, basket of currencies, dan wider band. pembahasan dalam tulisan akan difokuskan untuk menganalisis perbandingan sistem nilai tukar flexible exchange rate dan fixed exchange rate. penetapan sistem nilai tukar, baik sistem flexible exchange rates maupun sistem fixed exchange rates, bagaimanapun mempunyai dampak positif maupun negatif terhadap perekonomian secara makro. beberapa argumentasi yang mendukung penerapan sistem flexible exchange rates lebih baik dari sistem fixed exchange rates adalah sebagai berikut. better adjusment, flexible exchange rates lebih baik diterapkan pada saat terjadi trade imbalances, yaitu melalui kebijakan depresiasi nilai tukar sedangkan pada fixed exchange rates perlu dilakukan devaluasi. better cinfidence, flexible exchange rates dapat lebih cepat mengatasi terjadinya defisit transaksi berjalan sehingga menambah cadangan devisa dan selanjutnya memperkuat nilai tukar mata uang negara tersebut. kondisi itu dapat meningkatkan confidence di dalam foreign exchange market. better liquidity dengan penerapan flexible exchange rate maka bank sentral tidak perlu mempunyai cadangan devisa yang besar sepanjang intervensi money market tidak dilakukan karena nilai tukar ditentukan oleh mekanisme pasar. dalam fixed exchange rate, bank sentral perlu melakukan intervensi pasar untuk ,mempertahankan nilai tukar mata uangnya. gain from freer trade, flexsible exchange rates dapat mendorong perdagangan sehingga tidak diperlukan peraturan tarif atau restriksi perdagangan lainnya seperti, fixed exchange rate. increase independence of policy, flexcible exchange rates mendorong otoritas moneter untuk melakukan kebijakan sesuai target moneter yang ditetapkan, sedangkan fixed exchange rate membatasi otoritas moneter karena harus mengikuti kebijakan mitra dagang utama negara yang mata uangnya dikaitkan dengan nilai tukar mata uang domestik sementara itu, argumentasi yang menentang sistem flexsible exchange rate karena dalam pelaksanaan dampaknya lebih buruk dari sistem fixed exchange rate adalah sebagai berikut. flexible rates cause uncertanty and inhibit international trade and investment, flexible exchange rates menyebabkan ketidakpastian sehingga nilai tukar tidak stabil, lebih votile dan karenanya sulit diperkirakan sehingga dapat mempengaruhi transaksi perdagangan luar negeri maupun arus investasi. flexible rate are inflationary karena deoresiasi pada flexible rate akan meningkatkan harga tradable goods. sementara itu, apresiasi tidak paralel menurunkan harga. argumentasi itu berdasarkan ratchet effect teori yang tidak terjadi pada fixed rate karena harga tidak berfluktuasi. perlukah sistem nilai tukar free float… (e. koestandar) 29 flexible rates cause destabilizing speculation, spekulator umumnya membeli valuta ketika nilai tukarnya meningkat agar nilai tukar terus naik dan menjual valuta ketika nilai tukar turun sehingga nilai tukar terus menurun. pertimbangan spekulator masuk pasar valas dengan analisis mendalam atas kelemahan-kelemahan indikator ekonomi makro isu negatif lainnya. flexible rates will not work for open and small economies, depresiasi mata uang akan memperbaiki balance of trade apabila tidak diikuti kenaikan harga barang dan jasa dalam negeri. namun demikian, depresiasi pada flexible rate akan meningkatkan harga tradeable goods sehingga harga tidak komprtitif. dengan demikian, flexible rate tidak akan berjalan efektif pada negara open and small economies karena harga akan naik sejalan dengan naiknya harga barang impor. oleh karena itu, perlu didukung oleh kebijakan kontrol devisa lainnya. flexible rate cause structural unemployment, flexible rate mengakibatkan harga naik cost push infaltion, daya beli menurun, produksi menurun dan selanjutnya menimbulkan unemployment. namun demikian, sistem exchange rates apapun yang dipilih ditentukan oleh three key consideration that bear, most importantly, on the choice of regime menurut victor argy adalah sebagai berikut. 1. inflation discipline, that is , the equilibrium rate of inflation consisten with each exchange rate regime. 2. insulation, that is, how each regime insulates the economy from the disturbances, of domestic and foreign origin. 3. policy effectiveness, that is, to the capacity of each to exploit the policy instrument available the key macro economic targets of policy. pelaksanaan kebijakan sistem nilai tukar rupiah periode 1967-1997 sistem nilai tukar rupiah sejak tahun 1967 sampai diterapkannya sistem nilai tukar free float pada bulan agustus 1997 telah dilakukan beberapa kali perubahan sistem nilai tukar, antara lain pegged exchcange rate, managed floating exchange rate, crawling band dan terakhir free float exchange rate. berikut ini ilustrasi historis perkembangan sistem nilai tukar yang ditempuh indonesia sebagai berikut. 1. sistem nilai tukar tetap (1970-1978) pada tahap awal pemerintah orde baru indonesia memberlakukan dua sistem nilai tukar, yaitu devisa pelengkap (dp) dan bonus ekspor (be) sejak tahun 1967, sampai akhirnya menetapkan sistem nilai tukar terlambat atau pegged exchange rate tahun 1969 dengan nilai tukar 1 us$=rp 378,00. dengan periode 1970-1978, indonesia menganut sistem kontrol devisa ketat, antara lain para eksportir diwajibkan menjual hasil devisanya kepada bank indonesia. namun demikian, dalam pelaksanaan sistem kontrol devisa ini tidak ada pembatasan dalam hal kepemilikan, penjualan, maupun pembelian valuta asing. dengan adanya kewajiban penjualan devisa hasil ekspor tersbut, makan bank indonesia terus mempunyai cadangan devisa untuk memenuhi permintaan pasar valuta asing. dengan melakukan pegged rupiah terhadapa dolar us dollar maka bank indonesia memiliki wewenang penuh dalam mengawasi transaksi devisa, menjaga kestabilan nilai tukar sesuai target yang telah ditetapkan maka bank indonesia secara rutin melakukan intervensi di pasar valuta asing. journal the winners, vol. 2 no. 1, maret 2001: 25-37 30 kebijakan sistem nilai tukar tetap dengan sistem kontrol devisa ketat dalam periode tersebut masih dimungkinkan karena lembaga keuangan belum berkembang, volume transaksi devisa di pasar valuta asing masih relatif kecil serta mata uang rupiah belum diperhitungkan sebagai currency yang dapat diperdagangkan secara spekulatif dalam pasar valuta asing. bank indonesia sebagai otoritas moneter saat itu masih melakukan pembatasan dalam transaksi pinjaman luar negeri, penanaman modal asing, dan portofolio investment sehingga intervensi langsung yang dilakukan otoritas moneter dapat bekerja efektif. namun demikian, selama periode tersebut rupiah terus mengalami tekanan sehingga nilai tukarnya terhadap dolar adalah overvalued. kondisi itu menurunkan daya saing produk ekspor indonesia di pasar internasional. oleh karena itu, pada periode ini, pemerintah terpaksa melakukan devaluasi beberapa kali, yaitu 10 % tanggal 23 agustus 1972 dan devaluasi 50 % pada tanggal 15 november 1978. 2. sistem nilai tukar mengambang terkendali (1978 juli 1997) sejak devaluasi 15 november 1978, indonesia memberlakukan sistem nilai tukar rupiah mengambang terkendali atau managed floating. bank indonesia dalam menetapkan nilai tukar rupiah menetapkan dengan sekeranjang mata uang (basket of currenctes) negara mitra dagang utama indonesia. dengan sistem nilai tukar mengambang kendali tersebut maka bank indonesia menetapkan nilai tukar indikasi dan membiarkan nilai tukar bergerak di pasar valuta asing dengan spread tertentu. untuk menjaga stabilitas nilai rupiah, bank indonesia melakukan intervensi bila nilai tukar bergejolak melebihi batas atas atau batas bawah dari spread. dalam pelaksanaannya, sistem ini mempunyai esensi yang berbeda-beda sesuai dengan karakteristik perekonomian pada saat itu. karakteristik tersebut berhubungan erat dengan seberapa besar. bank indonesia mengendalikan nilai tukar tersebut dengan melakukan penekanan pada unsur manajemen atau floatingnya. sesuai dengan karakteristiknya, sistem nilai tukar mengambang terkendali pada periode tersebut dapat dibagi ke dalam tiga kelompok, yaitu managed floating i, managed floating ii, dan crawling band. periode 1978-1986 dapat dianggap sebagai periode managed floating i, unsur manajemen lebih besar dari floating karena pergerakan nilai tukar rupiah yang relatif stabil, kecuali pada saat devaluasi rupiah pada bulan september 1986.bank indonesia sebagai otoritas moneter saat itu tidak mengalami kesulitan dalam mengendalikan nilai tukar rupiah sesuai dengan target yang diinginkan dalam rangka menekan laju inflasi dan menjaga daya saing barang ekspor indonesia. dalam periode 1987-1992 dengan makin terbukanya perekonomian indonesia yang ditandai dengan meningkatnya capital inflow, pesatnya perkembangan sektor keuangan dana dunia usaha, kebijakan nilai tukar managed floating ii lebih ditekankan pada unsur floating-nya. dalam periode ini, kekuatan pasar bertambah besar sehingga unsur floating diperlukan. mengingat manajemen yang terlalu dominan dapat berakibat misalignment pada nilai tukar riil. flesibilitas nilia tukar rupiah semakin ditingkatkan melalui kebijakan nilai tukar crawling band sejak tahun 1992 hingga agustus 1997. peningkatan fleksibilitas nilai tukar tersebut telah mendorong perkembangan pasar valuta asing dalam negeri yang tercermin dari semakin berkurangnya ketergantungan bank kepada bank indonesia dalam melakukan transaksi devisa. perlukah sistem nilai tukar free float… (e. koestandar) 31 kegiatan transaksi valuta asing yang sebelumnya dilakukan bank indonesia hampir seluruhnya telah bergeser ke international money market. 3. sistem nilai tukar mengambang bebas (sejak 14 agustus 1997) sejak pertengahan juli 1997, nilai tukar rupiah mangalami tekanan yang menyebabkan semakin melemahnya nilai tukar rupiah terhadap dollar. tekanan tersebut berawal dari currency turnmoil yang melanda thailand dengan segera menyebar ke indonesia dan negara asia lainnya. langkah awal yang dilakukan bank indonesia untuk mengatisipasi tekanan terhdap rupiah antara lain dengan melakukan intervensi, baik secara spot maupun forward untuk sementara memang dapat menstabilkan nilai tukar rupiah. namun, tekanan depresif tersebut semakin meningkat sejak awal agustus 1997, rupiah telah menembus rp2650 per 1 usd. dalam rangka mengamankan cadangan devisa yang terus berkurang maka pada tanggal 14 agustus 1997, pemerintah memutuskan untuk menghapus rentang intervensi (free float exchange rate atau flexsible exchange rate). penghapusan rentang intervensi dimaksudkan mengurangi dampak negatif dari kegiatan spekulatif terhadap rupiah. walaupun telah menganut free float exchange rate. namun, kegiatan intervensi valuta asing masih tetap dilakukan bank indonesia. hal itu dimaksudkan menghilangkan distorsi di pasar valuta asing, mengingat pasar belum sempurna dan kurang rasional. dalam perkembangannya, pergerakan nilai tukar rupiah sejak sistem nilai tukar free float mengalami fluktuasi yang cukup tinggi. fluktuasi tersebut tidak hanya dipengaruhi faktor fundamental yang cukup tinggi. fluktuasi tersebut tidak hanya dipengaruhi faktor fundamental ekonomi. akan tetapi, juga faktor nonekonomi. faktor utama yang mendorong terus bergejolaknya nilai tukar rupiah adalah lemahnya fundamental ekonomi, di samping efek menular (contagion effect) dari krisis moneter thailand sebagai pemicu awal depresiasi rupiah. efektivitas pelaksanaan serta dampak kebijakan nilai tukar free float seperti dikemukakan dalam teori nilai tukar, kebijakan sistem nilai tukar free float memerlukan persyaratan kondisi ekonomi tertentu maupun koordinasi kebijakan ekonomi yang perlu diciptakan agar pelaksanaannya mencapai sasaran. agar sasaran kebijakan nilai tukar free float tercapai diperlukan persyaratan-persyaratan sebagai prakondisi yang perlu diperhatikan otoritas moneter, yaitu inflation discipline, insulation of the economy from domestics and foreign disturbances serta policy effectiveness. bila persyaratan tersebut terpenuhi, maka pelaksanaan kebijakan nilai tukar free float akan membawa nilai tukar rupiah menuju kepada keseimbangan pasar. dengan demikian, apabila masih terdapat indikasi fluktuasi nilai tukar rupiah tetap berlangsung, kemungkinan sebagai akibat tidak terpenuhinya persyaratan tersebut. oleh karena itu, fluktuasi nilai tukar terhadap us dollar hingga saat ini masih berkelanjutan maka berikut ini dilakukan analisis untuk menelusuri indikasi persyaratan tidak seluruhnya terpenuhi sebagai berikut. 1. inflation discipline, yaitu equilibrium rate of inflation consistent with each regime. agar kebijakan nilai tukar free float efektif, diperlukan tingkat inflasi yang rendah. oleh karena itu, perlu diusahakan agar laju inflasi selama pelaksanaan kebijakan free float dapat dikendalikan. jadi, kebijakan moneter, fiskal maupun sektor luar negeri harus dikoordinasikan dan journal the winners, vol. 2 no. 1, maret 2001: 25-37 32 diarahkan untuk menekan laju inflasi.kebijakan tight money policy dan austerity budget yang dilaksanakan awal krisis pertengahan 1997 ternyata gagal menekan laju inflasi. antara lain, karena terabaikannya perbaikan sektior riil. setelah kebijakan free float laju infolasi meningkat makin tinggi pada tahun 1997 dan 1998 masing-masing 11,1 % dan 77,6 %. walaupun, laju inflasi tahun 1999 dan 2000 telah turun masing-masing sebesar 2,2 % dan 5,0 %. namun, relatif masing-masing lebih tinggi dibandingkan dengan inflasi di amerika serikat sehingga purchasing power parity rupiah terhadap us dollar masih lemah. jadi, syarat pengendalian inflasi belum sepenuhnya dapat mendukung stabilitas nilai tukar rupiah. 2. insulation, yaitu how each regime insulate the economy from distrubance of domestic and foreign origin. perubahan kebijakan nilai tukar free float seharusnya didukung kebijakan lalu lintas devisa yang dapat melindungi perekonomian nasional dari pengaruh ekonomi global. mengingat saat ini indonesia sebagai open dan small economies yang menganut sistem devisa bebas dan sistem nilai tukar free float sangat rentan pengaruh faktor ekonomi maupun nonekonomi, baik yang berasal dari dalam negeri maupun luar negeri. kebijakan regime devisa bebas telah menempatkan indonesia menjadi negara yang liberal dalam lalu lintas devisa. antara lain, kebebasan dalam transfer devisa maupun tidak adanya kewajiban bagi eksportir untuk menjual devisa kepada bank indonesia. kebijakan pembatasan internasionalisasi perdagangan mata uang rupiah yang ditempuh bank indonesia bulan januari 2001 lalu tepat diberlakukan walaupun terlambat dilaksanakan. kebijakan pembatasan regional devisa bebas lainnya perlu terus dilanjutkan. 3. policy effectiveness, yaitu the capacity of each regime to exploit the policy instrument available to achieve the key macro economic target of policy. seperti, dikemukakan di awal kebijakan ekonomi yang kurang efektif atau kontradiksi terhadap kebijakan nilai tukar free float, cenderung memperlemah nilai tukar rupiah. berikut beberapa kebijakan ekonomi yang mengakibatkan depresiasi rupiah. 4. kebijakan perubahan suku bunga sertifikat bank indonesia (sbi) sejak awal tahun 1998 tidak efektif terhadap stabilitas nilai tukar rupiah. penelitian yang dilakukan oleh sjamsul arifin (1998) tentang kebijakan suku bunga sbi menunjukkan hal berikut. a. kebijakan peningkatan suku bunga tidak efektif untuk memperkuat nilai tukar rupiah apabila tidak didukung stabilitas faktor nonekonomi. b. peningkatan suku bunga efektif untuk mengendalikan core inflatuion. akan tetapi, tidak efektif untuk menekan noise inflation. c. kebijakan intervensi pasar valuta asing oleh bank indonesia pada saat diberlakukan kebijakan nilai tukar managed float cukup efektif. akan tetapi, pada saat diterapkan kebijakan free float mempunyai dampak negatif terhadap sentimen pasar. d. kombinasi kebijakan fiskal dan moneter ketat di awal krisis pertengahan 1997 memperburuk ekspektasi pasar terhadap prospek ekonomi indonesia. meskipun, kebijakan ekonomi tersebut telah dikoreksi. namun, telah menempatkan nilai tukar rupiah mencapai titik terendah pada bulan januari 1998, yaitu rp 16.000/us$ dan pada bulan desember 20020 masih sekitar rp 9.500/us$. kebijakan ekonomi yang kurang terkoordinasi, antara lain disebabkan perubahan kabinet dan belum membaiknya stabilitas sosial politik menyebabkan target makro ekonomi tidak mencapai sasaran. dengan demikian, diambil kesimpulan persyaratan yang perlu diwujudkan untuk mendukung stabilitas nilai tukar rupiah dengan menerapkan kebijakan nilai tukar free float tidak tercapai. perlukah sistem nilai tukar free float… (e. koestandar) 33 dampak penerapan kebijakan free float penerapan kebijakan sistem nilai tukar free float mempunyai dampak positif dan negatif terhadap perekonomian. dampak positif yang diharapkan oleh penerapan kebijakan free float apabila dilaksanakan secara efektif adalah better adjustment, better confidence, better liquidity, gain for free trade, dan increase independence policy. dampak negatif yang dapat timbul apabila kebijakan free float tidak dapat dilaksanakan secara efektif adalah inhibit trade and investment, destabilizing speculation, free float are inflationary, not work for open and small economies, dan cause structural unemployment. berikut ini analisis efektivitas dari penerapan kebijakan nilai tukar free float ditinjau dari parameter yang menunjukkan keberhasilan. 1. better adjustment free float exchange rates is that they provide a less paintful adjusment mechanism to trade than do fixed exchange rates. free float seharusnya dapat memperbaiki posisi neraca pembayaran indonesia. karena harga komoditi ekspor indonesia lebih kompetitif sejalan dengan perkembangan nilai tukar rupiah. pada tahun 1997 current account indonesia mengalami surplus. bahkan pada semester i/2000 mencapai us$ 3,9 milyar. surplus current tersebut bukan sematamata disebabkan turunnya impor. dengan demikian, setelah kebijakan free float hingga tahun 2000 belum terjadi perubahan secara struktural pada neraca pembayaran indonesia. dalam jangka pendek perlu dipertahankan posisi surplus current ini secara permanen. 2. better confidence kebijakan free float seharusnya dapat lebih cepat mengatasi terjadinya defisit current account karena kebijakan tersebut berhasil diharapkan posisi cadangan devisa akan membaik. hal itu sulit dicapai indonesia karena selama ini mengalami defisit current account yang kronis. posisi current account indonesia dalam periode 1998-2000 mulai mengalami surplus. akan tetapi, cadangan devisa tidak meningkat secara berarti. posisi cadangan devisa bersih sampai semester i/2000 us $ 16 miliar. berarti, jumlah cadangan devisa tersebut relatif kecil untuk mendukung kebijakan intervensi valuta asing bank indonesia. 3. better liquidity dengan kebijakan free float seharusnya bank indonesia tidak perlu mempunyai cadangan devisa yang besar untuk mendukung nilai tukar rupiah karena pergerakan nilai tukar diserahkan kepada mekanisme pasar. setelah kebijakan free float, bank indonesia tidak konsisten dalam melaksanakan kebijakan nilai tukar karena masih melakukan intervensi di pasar valuta asing dalam negeri. selama pelaksanaan kebijakan free float, bank indonesia banyak kehilangan cadangan devisa karena dipergunakan, antara lain untuk intervensi pasar. nilai tukar rupiah terhadap dolar pada akhir februari 2001 hampir menembus batas psikologis nilai tukar 1 us$=rp10.000,00. 4. gains from free trade free float dapat mendorong perdagangan luar negeri karena nilai tukar mengikuti pasar sehingga tidak diperlukan peraturan tarif bea masuk atau restriksi perdagangan lainnya. bagi indonesia, pelaksanaan kebijakan free float ini belum memperbaiki posisi neraca perdagangan secara significan. neraca perdagangan dalam periode 1998-2000 memang surplus. akan tetapi, disebabkan turunnya impor sejalan dengan belum pulihnya sektor industri secara penuh. journal the winners, vol. 2 no. 1, maret 2001: 25-37 34 5. increase independence of policy dengan kebijakan nilai tukar free float otoritas moneter seharusnya akan lebih independen dalam melaksanakan kebijakan moneternya. namun demikian, sebaliknya otoritas moneter setelah melaksanakan kebijakan free float tidak dapat melakukan kebijakan secara independen karena terikat letter of intent sesuai memorandum of understanding dengan imf tanggal 15 januari 1998. dengan demikian, tidak ada lagi kebijakan ekonomi yang dapat dilaksanakan secara mandiri karena seluruh kebijakan ekonomi harus sepengetahuan atau rekomendasi imf, baik bidan moneter, fiskal, perbankan, perdagangan luar negeri, investasi, dan previtasasi bumn. sementara itu, penilaian terhadap efek yang menunjukkan terjadinya dampak negatif atas penerapan kebijakan free float adalah sebagai berikut. i. flexible rate cause uncertainty and inhibit international trade and invesment kebijakan nilai tukar free float menyebabkan nilai tukar berfluktuasi dan tidak stabil, akibatnya dapat mempengaruhi transaksi perdagangan luar negeri maupun minat investor untuk melakukan investasi di indonesia. seperti dikemukakan kebijakan nilai tukar free float tidak memperbaiki posisi neraca perdagangan indonesia secara struktural. kebijakan nilai tukar free float juga mempunyai dampak yang negatif terhadap arus yang negatif terhadap arus investasi ke indonesia. arus balik investasi keluar indonesia disebabkan ketidakpastian iklim usaha di indonesia. bahkan, beberapa investor, yaitu korea selatan, taiwan dan hongkong sudah memutuskan relokasi usahnya ke negara lain. menurut data, bank indonesia sejak juli 1997 maret 1999 capital outflow mencapai us$ 80 miliar. diduga transfer capital outflow sekitar us $ 23 miliar, diantaranya tidak memonitor bank indonesia. ii. flexible rates cause destabilizing speculation pelaksanaan kebijakan nilai tukar free float menyebabkan tumbuhnya spekulasi di pasar uang valuta asing dalam negeri. indonesia telah kehilangan cadangan devisa selama periode krisis dari us$ 2.25 miliar per triwulan. saat ini, transaksi spekulatif di pasar valuta asing menurun, menyusul kebijakan bank indonesia untuk membatasi internasionalisasi rupiah. namun demikian, bank indonesia sewaktu-waktu melakukan intervensi dengan volume us$ 5 juta –us$ 30 juta per hari pada saat pasar mengalami tekanan dipasar valuta asing. nilai tukar rupiah terhadap dolar sampai akbhir februari 2001 terus mengalami depresiasi dengan nilai tukar sekitar rp9800,00 per us dolar. bank indonesia berpendapat nilai tukar rupiah terhadap dolar undervalue karena perkiraan reer (real effective exchange rate) saat ini sekitar 1 us$ = rp8.000,00. iii. flexible rates are inflationary flexible rates inflationary, have an inherent inflationary bias because depreciation increase prices of tradeable goods but appreciation do not parallel in prices. kebijakan nilai tukar free float dapat menyebabkan laju inflasi yang tinggi. depresiasi dalam sistem nilai tukar free float dapat menigkatkan harga tradeable goods. pengaruh depresiasi rupiah terhadap inflasi harga tradeable goods terus naik, tercatat tradeable goods triwulan ii/2000 naik 1,88%, lebih tinggi dibandingkan inflasi triwulan i/2000 yang mengalami deflasi 0,39%. perlukah sistem nilai tukar free float… (e. koestandar) 35 iv. flexible rates will not work for open and small economies flexible rate tidak akan berjalan dengan efektif pada negara open and small economies seperti indonesia. oleh karena, harga tradeable goods akan naik sejalan dengan naiknya harga barang impor. pada akhirnya, harga barang tradeable goods tetap tidak competitif di pasar internasional. data menunjukkan index tradeable goods pada semester i/2000 naik 1,88%. v. flexible rates can cause structural unemployment pelaksanaan flexible rates menyebabkan hancurnya sektor riil dan sektor institusi keuangan sehingga sejumlah pengangguran meningkat. jumlah kerja indonesia tahun 1998 mencapai 92,7 juta (45,9%) dari perkiraan jumlah penduduk indonesia 202 juta orang. selama tahun 1998 jumlah pengangguran penuh (open unemployment) mencapai 5.0 juta, naik 20,6 % dari tahun 1997 sedangkan jumlah setengah pengangguran (under employment) naik dari 28,4 juta (1997) menjadi 32,1 juta. penutup simpulan dan rekomendasi berdasarkan uraian dapat dikemukakan masalah pokok kebijakan nilai tukar free float pada 14 agustus 1997 sebagai berikut. kepuasan otoritas moneter untuk mengganti sistem nilai tukar rupiah dari managed float menjadi free float exchange rate pada 14 agustus 1997 dapat dinilai dengan alternatif terbaik pada saat itu. kebijakan sistem nilai tukar free float sejalan dengan sistem nilia tukar yang dianut negara anggota imf saat itu. sesuai karakteristik free float exchange rate, nilai tukar rupiah akan ditentukan mekanisme pasar (national are determined by interaction of market supply and demand). harapannya nilai tukar rupiah akan bergerak mengikuti supply dan demand di pasar uang. faktor yang mempengaruhi supplay dan demand rupiah ditentukan fundamental ekonomi, antara lain current account balance, inflation rate, dan interest rate disamping faktor stabilitas sosial politik yang diduga sangat dominan pengaruhnya stabilitas nilai rupiah. bank indonesia sebagai otoritas moneter tidak konsisten menerakan prinsip nilai tukar free float karena terus melakukan intervensi pasar. kebijakan itu mengindikasi bank indonesia masih ragu-ragu menerapkan sistem nilai tukar free float secara murni. oleh karena itu, lebih tepat saat ini bank indonesia menerapkan sistem nilai tukar dirty float bukan free float sehingga memungkinkan bank indonesia memperoleh keleluasaan melakukan intervensi pasar sesuai nilai tukar rupiah yang diinginkan (official intervention to keep national within the desire range). mengingat bank indonesia saat ini, sebenarnya telah melakukan dirty float maka dalam upaya menciptakan stablititas nilai tukar rupiah dapat ditinjau kembali kebijakan sistem nilai tukar crawling peg. dengan crawling peg, bank indonesia akan menetapkan secara periodik indikasi nilai tukar rupiah sehingga nilai tukar rupiah tidak sepenuhnya diserahkan kepada mekanisme pasar. konsekuensinya, bank indonesia perlu mempersiapkan cadangan devisa untuk mendukung kebijakan intevensi pasar apabila nilai tukar rupiah bergerak melebihi target yang diinginkan. journal the winners, vol. 2 no. 1, maret 2001: 25-37 36 dalam mendukung kebijakan crawling peg perlu ditinjau kembali kebijakan pp no.1 tantang lalu lintas devisa bebas yang diterapkan sejak tahun 1982. penerapan pp no.1 tahun 1982 tidak menguntungkan dilihat dari segi usaha akumulasi cadangan devisa negara . bahkan, bank indonesia saat ini kehilangan kesempatan menambah cadangan devisa negara dari transaksi ekspor. oleh karena itu, perlu dipertimbangkan alternatif kebijakan kontrol devisa secara bertahap dan selektif antara lain, melalui surrender of hard currency export receipts to central bank. otoritas moneter tidak berhasil menciptakan pra kondisi yang kondusif untuk mendukung kebijakan nilai tukar free float antara lain disebabkan faktor sebagai berikut. 1. otoritas moneter terlambat melakukan kebijakan kontrol devisa, walaupun saat ini telah diberlakukan pembatasan internasionalisasi perdagangan rupiah. 2. pemerintah gagal menciptakan stabilitas sosial politik dalam negeri sehingga dimanfaatkan para spekulator sebagai isu negatif terhadap rupiah. simpulan kebijakan nilai tukar free float dalam jangka pendek tidak efektif untuk menstabilkan nilai tukar rupiah sehinnga tidak memberikan dampak yang positif terhadap perekonomian indonesia. oleh karena itu, perlu ditinjau ulang pelaksanaan sistem nilai free float ini secar periodik sejalan dengan perkembangan situasi ekonomi moneter yang terus bergejolak secara dinamis. alternatif terbaik bagi otoritas moneter saat ini adalah menerapkan sistem nilai tukar crawling peg. namun demikian, penerapan sistem nilai tukar apapun akan gagal apabila tidak mematuhi prinsip inflation dicipline, insulation, dan policy effectiveness. daftar pustaka alisjahbana, iskandar. 1998. “evolusi pembaharuan budidaya masyarakat global (the global capitalist system).” jurnal studi pembangunan. vol.1 no.3 juni. argy, victor. 1990. choice of exchange rate regime for in smaller economy a survey of some key issues imf washington dc. :p.8. arifin, sjamsul. 1998. “efektivitas kebijakan suku bunga dalam rangka stabilitas rupiah di masa krisis.” buletin ekonomi moneter dan perbankan bank indonesia. desember. goeltom, s. miranda dan daddy zulverdi. 1998. “manajemen nilai tukar di indonesia dan permasalahannya.” buletin ekonomi moneter dan perbankan. bank indonesia. desember. levi, maurice d. 1996. international finance. third edition mcgraw hill. panggabean, m., r. mahi, a. panggabean. 1998. “ekonomi kita vs krugman: kasus negara berkembang.” harian bisnis indonesia. september. toemian, theo f. 1999. “rupiah di tengah sejumlah faktor global.” paper seminar bmpd bandung. januari. perlukah sistem nilai tukar free float… (e. koestandar) 37 pergerakan nilai tukar rupiah dan faktor yang mempengaruhinya. laporan tahunan bank indonesia 1997/1998.p.85-88. laporan tahunan bank indonesia 1999. bank indonesia. perkembangan moneter. sistem pembayaran dan perbankan triwulan ii. 2000. bank indonesia. microsoft word 06_bagus sumargo_sewa tanah.doc journal the winners, vol. 3 no. 2, september 2002: 188-195 188 perkembangan teori sewa tanah dalam perspektif pemikiran ekonomi bagus sumargo1 abstract a history of land rent theorities have several opinions, as mazhab of physiocratic, classical tradition, and new. the different opponions can be understanding for knowing two factors that land value increasingly location to central bussines and fertile soil.. keywords: land rent, economic abstrak pemikiran tentang sewa tanah berkembang mulai zaman praklasik (mazhab physiokratik), klasik, hinga sekarang. perbedaan mengeanai teori sewa tanah antara pendapat tokoh antarmazhab, menuntun untuk mengetahui teori sewa tanah yang sekarang. faktor penentu tingginya nilai sewa tanah adalah jarak lokasi tanah tersebut dengan pusat kegiatan ekonomi dan kesuburan tanah dimaksud. kata kunci: sewa tanah, ekonomi 1 staf peneliti bps, jakarta & staf pengajar fmipa, ubinus, jakarta perkembangan teori sewa tanah dalam perspektif... (bagus sumargo) 189 pendahuluan tanah merupakan sumber daya alam ciptaan tuhan yang ada di bumi ini. sejalan pertambahan penduduk dan hubungannya dengan kebutuhan hidup untuk bertempat tinggal dan atau kebutuhan hidup lainnya seperti memproduksi makanan, kegiatan industri, dan lain-lain maka tanah menjadi penting dan mempunyai nilai ekonomis yang tinggi. pemilik tanah yang lebih dikenal dengan tuan tanah, tentu akan memanfaatkan tanah tersebut untuk disewakan kepada yang membutuhkannya. teori sewa tanah menjadi penting mengingat penggunaannya yang bermacam-macam. pemikiran teori sewa tanah dalam perkembangannya telah dibahas sejak zaman dulu, yaitu mulai zaman physiokrat, klasik, dan sekarang. banyak perbedaaan dan persamaan antara pandangan berbagai kaum tersebut. efisiennya nilai tanah ditentukan oleh tingginya harga sewa tanah tersebut. ternyata faktor yang paling dominan untuk menilai bahwa tanah mempunyai makna land value adalah kesuburannya dan jarak lokasi tanah dengan pusat kegiatan ekonomi. pembahasan teori sewa tanah menurut mahzab physiokratik pemikiran tentang sewa tanah (land rent) sebenarnya telah mulai pada zaman praklasik, yaitu pada mazhab physiokratik yang merupakan tahap pendahulu bagi mazhab klasik. terutama perkembangan pemikiran ekonomi yang telah dikemukakan oleh francois quesnay (1694-1774) dan baron jaques turgot (1721-1781) yang dapat dianggap sebagai proses transisi ke arah pemikiran para pakar ekonomi pada mazhab klasik. kaum physiokrat kembali pada ajaran tradisional bahwa semua kekayaan berasal dari tanah, hanya tanah yang dapat memberikan hasil melalui apa yang ditanam ke dalamnya. jadi, surplus satu-satunya itu berasal dari tanah. tokoh penganut ajaran physiokrat francois quesnay berkebangsaan perancis menganggap tanah sebagai satu-satunya sumber pendapatan dan kekayaan. hanya sektor pertanianlah yang dapat dianggap produktif karena hanya sektor tersebut yang menghasilkan sisa produk bersih (product net), dalam artian adanya selisih (surplus) antara hasil produksi dengan konsumsi. tanah merupakan sumber daya produksi yang mengandung kemampuan untuk menghasilkan produksi dalam jumlah dan mutu yang melebihi atau meciptakan suatu surplus bahan mentah yang digunakan dalam proses produksi. dengan demikian, kegiatan di bidang pertanian menghasilkan produk bersih atau surplus bagi masyarakat secara menyeluruh. dalam karyanya, yaitu analyse du tableau economique (1758), quesnay menjelaskan bahwa produk netto atau produk bersih bersumber semata-mata pada sektor pertanian. produk bersih yang dimaksud semuanya diperuntukkan kepada pemilik tanah sebagai sewa tanah dan pemilik tanah menerima sewa sebagai suatu imbalan jasa atas penggunaan tanahnya. tokoh physiokrat lainnya baron jaques turgot, ia mempunyai pemikiran tentang masalah ekonomi masyarakat yang sehaluan dan sejalan dengan pola dan garis pemikiran yang journal the winners, vol. 3 no. 2, september 2002: 188-195 190 dikemukakan oleh quesnay. sebagaimana juga tercermin pada karyanya yang berjudul reflexions sur la formation et la distribution des richesses (1766), turgot berpendapat bahwa produk bersih yang diciptakan oleh penggarap tanah menjadi sumber satu-satunya yang dapat memelihara kehidupan golongan masyarakat lainnya. akan tetapi, dalam kenyataannya sebagian besar surplus itu jatuh (dinikmati) oleh pemilik tanah sebagai sewa tanah yang akhirnya bertumbuh menjadi akumulasi modal. turgot juga mengungkapkan bahwa besar kecilnya imbalan jasa bagi penggunaan tanah, yaitu tingkat sewa tanah berbeda-beda sesuai dengan perbedaan mutu lahan yang digunakan pada kegiatan produksi yang bersangkutan. turgot untuk pertama kalinya merumuskan suatu kecenderungan dalam produksi pertanian yang kemudian dikenal dalam teori ekonomi sebagai law diminishing returns (ldr). menurut turgot, pertambahan modal secara berlipat ganda dalam produksi pertanian tidak membawa pelipatan hasil produksinya dengan tingkat yang sepadan dengan tingkat pelipatgandaan modal. secara absolut hasil produksi itu memang bertambah tetapi secara nisbi pertambahan itu semakin menurun dalam perimbangannya terhadap jumlah modal yang digunakan. tersedianya luas tanah dengan mutu lahan yang baik selalu terbatas terutama untuk produksi pertanian. dalam proses peningkatan produksi yang memerlukan tanah yang makin meluas, harus digunakan bidang tanah yang mutu lahannya makin rendah. hasil pertanian memang bertambah tetapi tingkat pertambahannya semakin berkurang. mengenai hukum itu akan diterapkan pada teori sewa tanah oleh david ricardo atau dengan kata lain teori sewa tanah merupakan penerapan ldr. jadi, pengamatan turgot mengenai kecenderungan berlakunya ldr mendasari besar kecilnya imbalan jasa berupa sewa tanah bagi penggunaan tanah yang sesuai dengan mutu lahan yang terlibat dalam produksi pertanian merupakan pangkal tolak dari pemikiran ricardo mengenai teori sewa tanah yang menjadi terkenal dalam teori ekonomi. dengan demikian, dapat dikatakan bahwa dalam kerangka pemikiran physiokrat telah terkandung benih utama bagi teori ekonomi yang salah satunya menyangkut teori persewaan tanah oleh david ricardo pada mazhab klasik. teori sewa tanah menurut mahzab klasik para pemikir ekonomi pada mazhab klasik, diantaranya adam smith (1723-1790), david ricardo (1772-1823), dan thomas robert malthus (1766-1834) telah meletakkan landasan yang kuat bagi perkembanan ilmu ekonomi. di dalamnya juga terdapat teori tentang sewa tanah yang satu sama lainnya mengandalkan beberapa pengertian dasar yang telah dipaparkan oleh para tokoh mazhab phsyokrat. menurut adam smith yang terkenal dengan karyanya wealth oh nations pembayaran uang terbesar untuk membiayai produksi dan distribusi adalah upah, sewa, dan laba. mengenai sewa, smith berpendapat bahwa sewa pada hakekatnya merupakan suatu harga monopoli. luas tanah yang subur yang dibutuhkan itu terbatas jumlahnya, orang yang memilikinya dapat menarik bayaran tertentu pada para pemakai. sewa itu bukan merupakan upah tenaga kerja maupun balas jasa bagi para pemilik modal atau investor. sewa yang tinggi sematamata akibat kekayaan nasional yang melimpah atau tingkat upah yang tinggi. dalam analisisnya tentang sewa, adam smith telah merintis teori terkenal tentang uneraned increment (penghasilan bukan balas karya). selanjutnya, dalam beberapa pemikiran yang terkandung dalam gagasan, adam smith telah mengungkapkan bahwa imbalan jasa untuk penggunaan tanah tidak dianggap sebagai faktor perkembangan teori sewa tanah dalam perspektif... (bagus sumargo) 191 yang menentukan harga, melainkan sewa tanah merupakan residu, unsur residual (sisa hasil) dari harga barang tersebut. bagian residu itu jatuh pada dan dinikmati oleh pemilik atau penguasa tanah. menurutnya, sewa tanah bukan merupakan komponen dalam biaya produksi yang menentukan harga barang, melainkan tinggi rendahnya upah (beserta bunga dan laba) yang menjadi faktor yang menentukan tinggi rendahya harga barang. sebaliknya, tinggi rendahnya sewa tanah merupakan sisa hasil dari harga barang itu (setelah dikurangi dengan biaya produksi). dalam hubungan itu, oleh adam smith dengan mengandalkan pemikiran yang telah diungkapkan oleh turgot sebelumnya yang juga ditunjukkan dengan perbedaan mutu lahan diantara berbagai bidang tanah yang digunakan dalam proses produksi. menurut smith, tingkat sewa tanah ditentukan oleh tanah yng subur. selanjutnya, lihat teori sewa tanah menurut malthus. meskipun analisis malthus dimaksudkan untuk mendukung teorinya tentang kependudukan, malthus menyumbangkan suatu konsep yang kemudian diterima menjadi bagian dari teori ekonomi umum dan menjadi alat analisis utama dalam teori klasik, yaitu tambahan hasil yang semakin berkurang. ia mengembangkan teori tersebut dalam kaitannya dengan masalah tanah. sebidang tanah tertentu akan menghasilkan lebih banyak dengan menggunakan pupuk dan tenaga kerja tetapi sampai pada suatu titik tertentu tidak menguntungkan lagi menambah pupuk dan tenaga kerja tersebut untuk meningkatkan produktivitas tanah. kenaikan biaya lagi tidak akan menambah hasil secara proporsional, bahkan jika biaya ditambah terus, hasilnya malah akan berkurang. imbalan jasa bagi penggunaan tanah dalam proses produksi dikaitkan dengan jumlah penduduk yang semakin bertambah dan permintaan meningkat terhadap sumber daya produksi untuk mempertahankan kehidupan manusia. untuk itu, semakin banyak tanah diperlukan sedangkan di lain pihak bidang tanah yang mengandung mutu lahan yang subur senantiasa terbatas. namun, permintaan dan kebutuhan terus mendesak sehingga mau tidak mau tetap menggunakan tanah yang mutu lahannya semakin menurun. bagian yang paling penting dalam pola dasar pemikiran malthus dan kerangka analisisnya adalah menyangkut tentang teori sewa tanah dan tentang penduduk. teori sewa tanah yang dianut malthus serupa dan sejalan dengan teori yang dikembangkan oleh ricardo, yaitu denga berpangkal tolak pada ldr. menurut malthus harga pangan yang tinggi disebabkan karena sewa tanah yang tinggi dan sewa tanah yang tinggi disebabkan karena masyarakat kehadapatn lahan yang subur sebagai akibat penduduk yang semakin padat. di zaman turgot ada anggapan umum seakan-akan berlakunya kecenderungan dalam ldr itu terbatas pada produksi pertanian. oleh malthus dijelaskan bahwa kecenderungan tersebut berlaku dalam penggunaan semua sumber daya alam. oleh karena itu, menjadi semakin sukar untuk menyediakan sumber nafkah untuk kehidupan manusia secara wajar bagi penduduk yang makin bertambah. david ricardo dalam bukunya principles of political economy and taxation yang diterbitkan pada tahun 1817 memberikan perhatian utamanya pada masalah distribusi kekayaan karena dalam hal itu menurutnya penjelasan smith maupun malthus tidak terlalu memuaskan meskipun ia sendiri banyak belajar dari keduanya. sewa tanah menurut adam smith merupakan suatu harga monopoli, ricardo sependapat dengan smith tetapi ia menguraikan lebih lanjut. seandainya tanah berlimpah ruah jumlahnya seperti halnya udara, setiap orang asal mau mempunyai tanah dan pasti tidak ada harganya. tanah akan menjadi “barang bebas”, menurut ricardo begitulah asal mulanya. para petani yang pertama tentu memilih lahan yang paling subur. akan tetapi, segera setelah lahan subur itu habis maka orang akan mengambil lahan yang tidak begitu subur. semenjak itu, lahan yang subur mempunyai harga karena tiap jengkal memberikan hasil yang lebih banyak, sementara tidak ada lagi lahan yang seperti itu tersedia. jika proses yang journal the winners, vol. 3 no. 2, september 2002: 188-195 192 demikian itu berlangsung terus dan lahan yang kurang suburpun telah dimiliki orang maka harga lahan yang subur akan makin meningkat. lahan yang paling tidak subur akan diolah menjadi lahan pertanian hanya jika hasilnya dapat menutup biaya yang telah dikeluarkan untuk mengerjakan tanah tersebut. hasil olahan tersebut memang hanya sebesar itu, tidak lebih. oleh karena itu, sewa atas tanah yang lebih subur bukanlah pembayaran atau balas jasa bagi tanaga kerja tetapi lebih merupakan pembayaran yang timbul hanya karena pemilikan suatu sumber daya alam yang langka. pembayaran demikian itu oleh ricardo dinamakan sewa (rent tanah) bukanlah suatu balas jasa atau imbalan bagi faktor produksi. barang siapa yang memiliki atau menguasai tanah yang mutu lahannya lebih baik dari pada tanah akhir di batas (land on the margin), mereka itu memperoleh rejeki berupa surplus di atas biaya. surplus tersebut semakin besar dengan semakin baiknya mutu lahan. dengan begitu, pihak yang memilki atau menguasai tanah yang subur, sebenarnya semacam menerima rejeki nomplok dari adanya tekanan kebutuhan dan permintaan yang semakin meningkat. dalam teorinya tentang sewa tanah, ricardo menjelaskan bahwa jenis tanah berbeda-beda; ada yang subur, kurang subur, hingga yang tidak subur sama sekali. produktivitas tanah yang subur lebih tinggi dan dengan demikian untuk menghasilkan satuan unit produksi diperlukan biaya (biaya rata-rata dan biaya marginal) yang lebih rendah pula. semakin rendah tingkat kesuburan tanah jelas semakin tinggi pula biaya rata-rata dan biaya marginal untuk mengelolah tanah tersebut. semakin tinggi biaya maka keuntungan per hektar tanah menjadi kecil pula. dengan penjelasan di atas maka adalah layak jika sewa untuk tanah yang lebih subur lebih tinggi jika dibandingkan dengan tanah yang kurang subur. meskipun ricardo sependapat dengan adam smith bahwa harga alamiah untuk setiap barang didasarkan pada biaya tenaga kerja yang dikeluarkan untuk menghasilkan barang tersebut namun ricardo tidak setuju jika sewa tanah dimasukkan ke dalam harga alamiah sebagai biaya produksi. akan tetapi, ricardo memasukkannya ke dalam harga alamiah biaya tenaga kerja yang dibutuhkan untuk membangun gedung dan mesin (modal). oleh karena itu, dalam menerima keuntungan pemilik modal mengamnbil sesuatu yang dihasilkan tenaga kerja. dengan demikian, menurut ricardo terjadi konflik antara majikan dan buruh mengenai masalah pembagian keuntungan. sewa pada hakekatnya mengurangi keuntungan. dalam jangka panjang keuntungan cenderung menurun ke titik nol, sementara para tuan tanah akan memperoleh surplus tanpa harus bersusah payah nekerja untuk mendapatkannya. david ricardo telah mengembangkan pemikiran adam smith secara lebih terjabar dan juga lebih sistematis. kerangka garis pemikiran ricardo perihal teorinya tentang nilai dan harga serta teorinya tentang upah juga konsekuen diterapkan dalam teorinya tentang sewa tanah. hal itu masih dilengkapi dengan ikut memperhatikan berlakunya ldr yang dahulu diungkapkan oleh turgot pada mazhab physiokrasi sebagai kecenderungan dalam produksi pertanian. ricardo menyatakan bahwa meningkatnya sewa tanah adalah sebagai akibat kesulitan untuk menyediakan tanah dan pangan bagi penduduk yang bertambah. kini terlihat bahwa ldr yang berawal dari pemikiran turgot menjadi dasar dan pangkal tolak bagi teori sewa tanah oleh david ricardo. bantahan terhadap ldr henry c. carey (1793-1879), seorang pelopor pemikiran ekonomi amerika, menyumbangkan pemikiran baru dalam bidang ekonomi. meskipun bukan seorang teoritikus terkenal tetapi mengajukan beberpa pandangan yang menarik. ia tidak setuju dengan teori ricardo tentang sewa tanah karena menurutnya penghui pertama yang menetap disuatu tempat sering kali perkembangan teori sewa tanah dalam perspektif... (bagus sumargo) 193 tidak menempati areal tanah yang berkualitas terbaik tetapi justru areal tanah yang berkualitas rendah. dengan tepat ia melihat adanya kemajuan pesat di bidang teknologi pertanian yang menyebabkan produksi tanah yang meningkat. oleh karena itu, ia menyangkal sahihnya ldr. menurut henry c. carey; lahan tanah hanya salah satu sarana produksi, tanah sendiri tidak akan menghasilkan banyak jika tidak diolah sebagaimana mestinya. oleh karena itu, penghasilan pemilik tanah tidak berbeda dengan penghasilan para pemilik modal atau upah para pekerja. meskipun teori tentang hal itu tidak begitu kuat dasarnya namun cocok dengan keadaan negara amerika pada waktu itu. amaerika saat itu mempunyai luas tanah yang melimpah sedangkan tenaga kerja dan modal yang dibutuhkan untuk memanfaatkan areal tanah yang luas itu relatif sedikit. tanah yang tidak digarap memang hampir tidak bernilai bagi siapapun. sewa merupakan balas karya henry george (1839-1897), pakar ekonomi amerika yang paling termashur berhasil memperbaiki teori ricardo tentang sewa tanah. ia mempelajari teori distribusi yang umum diterima, yaitu teori yang diandaikan dapat menjelaskan tentang pembagian hasil antara ketiga faktor produksi yang utama, yaitu tenaga kerja, modal, dan tanah. george juga sampai pada suatu kesimpulan bahwa pembayaran berupa sewalah yang merupakan penyebab kemiskinan. oleh ricardo dikatakan bahwa tanah yang berkualitas baik mendapatkan sewa dan pembayaran atas sewa itu hanya dikarenakan orang kebetulan memiliki tanah tersebut. setelah mengesampingkan teori ricardo tentang upah dan bunga, ia tidak sependapat dengan ricardo bahwa tuan tanah hanya memeras para pemiliki modal. menurutnya apa yang dilakukan oleh tuan tanah menghambat para pekerja meraih keuntungan dari teknologi produksi yang modern. selanjutnya, ia menambahkan bahwa para pekerja dapat meraih sedikit keuntungan bila tingkat kemajuan teknologi melaju lebih cepat dibandingkan dengan kenaikan nilai monopoli tanah yang berkualitas baik. ia berpendapat hal itu terjadi di wilayah yang baru dibuka tetapi tidak pada wilayah yang sudah lama. disinilah ditemukan suatu sumbangan george yang orisinil dan dapat bertahan sepanjang waktu. dikatakannya yang menyebabkan nilai tanah itu sangat tinggi sebenarnya bukanlah karena perbedaan kesuburan tetapi karena pertumbuhan penduduk di sekitar tanah tersebut dan karena kenaikan produktivitas masyarakat pada umumnya. untuk menjadi kaya raya menurutnya janganlah membeli tanah pertanian yang subur tetapi belilah tanah yang terletak dekat pusat kota yang sedang mekar. sama sekali tidak menjadi soal apakah sebidang tanah tersenbut merupakan tanah yang subur atau tidak. karena sewa tanah diartikan sebagai imbalan atas penggunaan tanah atau sumber daya alam lainnya, sewa merupakan balas karya. teori sewa tanah sekarang teori tentang sewa tanah mengalami perkembangan hingga sekarang dan pada akhirnya telah ada definisi yang jelas mengenai hal tersebut. sumber daya tanah merupakan sumber daya alam yang umumnya terbatas persediannya dibandingkan dengan permintaannya sehingga bersifat langka dan mempunyai nilai. tanah mempunyai opportunity cost dalam pemanfaatannya. penguasaan tanah dapat menunjukkan status sosial, ekonomi atau politik seseorang. selain itu, tanah dapat juga berfungsi sebagai faktor produksi (input fakor) pada berbagai aktifitas ekonomi seperti pertanian, pemukiman, kegiatan industri, dan lain-lain. sumber daya tanah digunakan manusia untuk meningkatkan kesejahteraan. penggunaan tanah pada umumnya sangat tergantung pada kemampuan atau kesuburan dan lokasinyta. hubungan sewa tanah dan lokasi, pertama kali journal the winners, vol. 3 no. 2, september 2002: 188-195 194 dibahas oleh seorang ekonomi jerman heindrich von thunen. lokasi tanah terhadap pusat kegiatan ekonomi dinyatakan dengan jarak lokasi tanah tersebut dengan pusat kegiatan ekonomi tempat produk atau hasil dari tanah tersebut dijual. von thunen menyatakan bahwa ”economic rent” sebidang tanah akan semakin kecil denan semakin jauhnya jarak lokasi tanah tersebut ke pasar (pusat kegiatan ekonomi). sewa tanah merupakan konsep penting dalam ekonomi sumber daya tanah. pada umumnya, orang berpikir bahwa sewa adalah imbalan atau pembayaran yang dibutuhkan untuk penerimaan sebidang lahan atau bangunan pada pemilikinya. istilah sewa dapat mempunyai arti berikut. 1. contract rent; sebagai pembayaran dari penyewa kepada pemilik tanah dan pemilik tanah melakukan kontrak sewa dalam jangka waktu tertentu. 2. economic rent atau land rent yang merupakan surplus usaha. sewa tanah didefinisikan sebagai kelebihan penerimaan dari hasil pemanfaatan tanah yang bersangkutan dengan biaya yang dikeluarkan selain tanah., misalnya tenaga kerja, modal, bahan baku, dan energi yang dipakai untuk mengubah sumber daya alam menjadi barang atau produk. konsep rent dapat didekati dengan pendekatan average value (per ha, per m2) yang merupakan selisih antara harga produk yang dihasilkan dari pemanfaatan tanah tersebut dengan biaya rata-rata (tidak termasuk biaya untuk tanah) yang dikeluarkan untuk membeli input yang digunakan dalam menghasilkan produk tersebut. selain pendekatan average value, konsep rent dapat didekati dengan pendekatan marginal value yang merupakan selisih antara harga produk terakhir dan biaya per unit input (tidak ternasuk tanah) terakhir yang dipakai untuk menghasilkan tambahan produk terakhir tersebut. dalam kasus menganggap harga produk konstan dan input tersedia dengan penawaran yang elastis sempurna, pendekatan average value akan menjadi serupa dengan pendekatan marginal value. sewa tanah sebagai surplus ekonomi dapat terjadi karena kesuburannya dan lokasinya. pada dasarnya, sewa tanah tersebut merupakan balas jasa untuk pemanfaatan tanah yang dipakai dalam suatu aktifitas. land rent = penerimaan – biaya produksi (selain biaya untuk tanah) = (produksi x harga/unit produk) biaya produksi (selain biaya untuk tanah) besarnya economic rebt atau land rent akan sangat bergantung pada hal berikut. 1. jenis penggunaan tanah (hotel, kebun, dan lain-lainnya). 2. dalam hal-hal tertentu (pertanian) tergantung pada kesuburan tanah tersebut. 3. teknologi yang dipakai dalam pemanfaatan tanah tersebut. 4. aksessibiltasnya (terkait dengan jarak tanah ke lokasi pelemparan hasil). ditinjau dari aspek ekonomi, pemanfaatan tanah dikatakan makin efisien kalau tanah tersebut mengahasilkan rent yang semakin tinggi. besarnya sewa tanah yang mencerminkan pula land value besarnya tergantung pada kesuburannya dan lokasi tanah tersebut terhadap pusat kegiatan ekonomi dan produk tanah tersebut dipasarkan. jarak lokasi tanah dari pusat kegiatan ekonomi terkait erat dengan biaya transportasi. dengan jarak yang semakin jauh akan menyebabkab biaya transportasi makin besar maka hubungan antara economic rent dan jarak bersifat negatif. artinya, semakin jauh jarak lokasi tanah tersebut dari pusat kegiatan ekonomi tersebut akan semakin kecil economic rentnya. perkembangan teori sewa tanah dalam perspektif... (bagus sumargo) 195 penutup simpulan perkembangan pemikiran ekonomi mengenai sewa tanah semakin menjurus pada persoalan realitas atau kondisi di suatu wilayah. pada zaman mazhab physiokrat, hasil sewa tanah dinikmati oleh para pemilik tanah. berdasarkan contoh tanah pertanian, turgot menelurkan teori ekonomi law of diminishing returns (ldr). tokoh mazhab klasik mengatakan bahwa tingkat sewa tanah ditentukan oleh tanah yang paling subur. keragu-raguan akan kesahihan ldr dan bantahan pendapat kaum klasik diungkapkan oleh henry c. carey. pada akhirnya, teori sewa tanah untuk kondisi sekarang mengkombinasikan pendapat tokoh ekonomi terdahulu, yaitu besarnya sewa tanah yang mencerminkan land value, tergantung pada kesuburannya dan lokasi tanah tersebut terhadap pusat kegiatan ekonomi. daftar pustaka delianov. 1995. perkembangan pemikiran ekonomi. jakarta: raja grafindo persada. djojohadikusumoh, s. 1991. perkembangan pemikiran ekonomi. jakarta: yayasan obor indonesia. hartwick, john m., dan d.o. nancy. 1986. the economics of natural resource use. new york: harper and row publisher. heilbroner, r.l. 1972.. tokoh-tokoh besar pemikir ekonomi. jakarta: yayasan penerbit ui. soule, g. 1994. pemikiran para pakar ekonomi terkemuka, dari aristoteles hingga keynes. jakarta: kanisius. *corresponding author p-issn: 1412-1212 e-issn: 2541-2388 67 the winners, 22(1), march 2021, 67-73 doi: 10.21512/tw.v22i1.7045 knowledge management strategy, innovation, and performance in small business enterprise in indonesia aryo bismo1; wensin halim2; monica andini erwinta3* 1,2,3management department, binus business school undergraduate program, bina nusantara university jl. kebon jeruk raya no. 27, kebon jeruk, jakarta 11530, indonesia 1aryo.bismo001@binus.ac.id; 2wensin.halim@binus.ac.id; 3monica.erwinta@binus.ac.id received: 05th february 2021/ revised: 18th march 2021/ accepted: 30th march 2021 how to cite: bismo, a., halim, w., & erwinta, m. a. (2021). knowledge management strategy, innovation, and performance in small business enterprise in indonesia. the winners, 22(1), 67-73. https://doi.org/10.21512/tw.v22i1.7045 abstract the research aimed to provide view about the knowledge management strategies that specifically testing both codification and personalization, and their consequences on innovation and performance in small business enterprise. data were collected from 46 small business enterprises in indonesia through online questionnaires, and were analysed using structural equation modelling. the results reveal that knowledge management strategies— codification and personalization—have impacts on innovation and performances directly and indirectly through the increase on innovation capability. it is considered that the research will help small business enterprises to establish a good knowledge management strategy to obtain better profit on a specific condition and environment. keywords: knowledge management strategy, innovation, performance, small business enterprise i. introduction development of technology in industry 4.0 makes competition become more rigid than before, and brings business into the next level of competition to survive. lópez-nicolás and meroñocerdán (2011) and shujahat et al. (2019) define knowledge management as the explicit and systematic management of vital knowledge–and its associated processes of creation, organization, diffusion, use and exploitation. it is essential for a business to build a competitive advantage by establishing a good strategy of knowledge management (lópez-nicolás & meroñocerdán, 2011). therefore, it is considered that the firm on the small business enterprises (sbe) in indonesia become the focus of the research since it is important for them to establish knowledge management and innovation to keep thriving in such competition. marzal (2019) shows that the stretching of the e-commerce industry has also developed a number of local unicorns—enterprise with value above us$ 1 million such as tokopedia and bukalapak. foreign players also enjoy the vantage of indonesian e-commerce, such as lazada and shopee (singapore), and jd.id (china). with great potential, the digital industry is one of the sectors that can be relied on to sustain economic growth and encourage equity as well considered as a good economic value to be utilized by sbe players to reach more market share and obtain more profit (rahman, 2016). nevertheless, this also creates various agile competitions over technology and internals. many regulations, innovations and tactics are made to accelerate and develop an electronic-based trading system to spur the growth of the national digital industry by developing technology, internet, and logistics as the expansion of internet services is a major prerequisite for the growth of an e-commerce business and facilitating connectivity (rahayu, 2019). therefore, sbe needs to form a strong and comprehensive data, information network and innovation. in the area that becomes the center of change, a business must be able to meet and respond to various changes and levels of service to customers. services must be provided as to meet customer expectations. otherwise customers will not stay loyal (ariyanti, 2017). at this point, decision making and response must be fast, so it is necessary to take advantage of enormous data and innovation to deliver the best performance to meet market needs and demands to achieve competitive advantage (“genjot daya saing industry”, 2018). for this purpose, user data is the key sources to grow a business. knowledge management is 68 the winners, vol. 22 no. 1 march 2021, 67-73 able to provide further recommendation about unique services from a customer since today’s businesses need to see guidance that a company must be able to respond to its customers in real time (nawab et al., 2015). knowledge management strategy is related to a process and infrastructure that firms obtain, create, and share knowledge to formulate a strategy and decision making of the company (north & kumta, 2018). knowledge management strategy can align company’s goal with the resources and capabilities company obtain by establishing intellectual and strategic requirements as to reduce the gap between what the company knows and what actually happens (nawab et al., 2015). the typology of knowledge strategies can be distinguished between personalization and codification of knowledge. the classification is differentiated based on tacit knowledge and explicit knowledge, which differs on the use of information technology (karamat et al., 2019). in codification strategy, determinations are extracted from the person who develops them, made independent of that person, and reused for various purposes within same condition. meanwhile, strategies that are oriented towards tacit knowledge (human or personalization) are non-complementary with respect to organizational performance (choi & lee, 2003). codification knowledge management captures existing knowledge, and then transfers and implement to similar situations whereas personalization knowledge management focuses on dialogue between individuals, new knowledge that is shared, synthesized, and created (obeidat, al-suradi, & tarhini, 2016; mohapatra et al., 2016; dingsøyr, 2019). both personalization and codification of knowledge promote innovation and enable competitive advantage (raudeliūnienė, davidavičienė, & jakubavičius, 2018). knowledge management is key in strategic management and innovation research (girard & girard, 2015). the description of knowledge management varies, including creation, diffusion, feeding and application of either existing or new knowledge. knowledge management intends to manage the intellectual and social capital of individuals to improve the learning abilities of an organization that allows the innovation process (rahimi et al., 2017). the knowledge management process is the process of acquiring knowledge, converting knowledge, sharing, and applying knowledge to improve company performance and help organization in achieving success as measured from a financial, market and internal perspective of a company (abualoush et al., 2018; raudeliūnienė, davidavičienė, & jakubavičius, 2018). innovation efforts include finding, discovering, experimenting, and developing new technologies, products or services with new production processes or even organizational structures. innovation can also be defined as the process of implementing a new idea in something new (borghini, 2005). damanpour and evan (1984) illustrate that innovation has several characteristics, including new elements, new structures or administrative systems, new policies, new plans or programs, new production processes, and new products or services. innovation is categorized as a new world where there are new products for companies, additional product lines, improvements or revisions to product lines, cost reduction, or product repositioning, in which new innovations are characterized as radical innovations while others are additional innovations (darroch, 2005). innovation process is very dependent on knowledge, especially on tacit knowledge (ganguly et al., 2019). the new knowledge is considered highly valuable and can be created and converted into a new product, service, or process that produces a competitive advantage for a company (lee et al., 2016) the new development can take place by turning general knowledge into specialized knowledge (meroño-cerdán & lópez-nicolás, 2017). the strong interaction between knowledge management and innovation has been empirically tested by jantunen (2005) and khan et al. (2020). company performance is a multidimensional concept, in which the company's position against its competitors will be considered in assessing the company’s performance (meroño-cerdán & lópeznicolás, 2017). a comprehensive view of company performance does not only consider the financial perspective of the company but also the monitoring of the company's value creation (meroño-cerdán & lópez-nicolás, 2017). the company performance is often seen from three perspectives: 1) the company's financial performance which includes market performance such as profitability, growth, and customer satisfaction; 2) the process performance which refers to the quality and efficiency of the company; 3) the company's internal performance which refers to the individual capabilities of the company such as employee qualifications, employee satisfaction and creativity. according to darroch (2005), company performance usually uses internal comparative and reflective performance measures. for instance, the company's performance is compared with the average of other competitors in the industry, whether it is superior and profitable. meanwhile, on the internal reflective, for instance, if the company achieves the highest profit this quarter for the last ten years, the performance measure includes financial and nonfinancial terms such as process performance and internal company. knowledge management is stated to expand the scope of creativity and enhance the innovation process through the movement and development of new knowledge (nawab et al., 2015). effective knowledge management, in addition, is a determining factor for the success of launching new products since knowledge contributes to producing creative thinking resulting in innovation (borghini, 2005). therefore, effective knowledge management is seen as the 69knowledge management strategy.... (aryo bismo, et al.) biggest contributor to the formation and smoothness of corporate innovation (darroch, 2005). pérez-luño, alegre, and valle-cabrera (2019) state that most of the exploration and innovation come from knowledge focused on tacit knowledge, while lópez-cabarcos et al. (2019) suggest a positive impact that the reuse of explicit knowledge (codification strategy) would come up with great development of radical innovation (möller & halinen. 2017; barão et al., 2018). jantunen (2005) reveals that knowledge acquisition, dissemination, and utilization of knowledge will form new knowledge creation capabilities that enhance corporate innovation. lópezcabarcos et al. (2019) investigate the relationship between tacit knowledge and innovation ability, which shows that increasing the innovation capability of a company is highly dependent on the degree of utilization of the organization's tacit knowledge and is influenced by internal factors of the company. abdi et al. (2018) explain that consistency and persistence in knowledge management is the best way that companies can do to increase technological innovation, products and/or services through knowledge acquisition and application. hence the research aims to prove the theory that knowledge management is one of the factors to ensure the success of developing innovation. knowledge management can improve company performance and competitiveness (dalkir, 2017; mardani et al., 2018). the performance of the knowledge management system must combine financial and non-financial measures within the firm since different performance dimensions will be influenced by different knowledge management strategies (wu & lin, 2004). the influence of each knowledge management (codification and personalization) on different performance dimensions may result in different impacts (wu & lin, 2004). the personalization strategy may be more valuable in increasing the competitiveness of the company than the codification strategy, but an explicitly oriented coding strategy is more profitable for enhancing the performance of the company (martinez-conesa, sotoacosta, & carayannis, 2017). meanwhile, codification knowledge management saves time and increases coordination efforts while personalization strategies improve quality, competence, and innovation ability (wu & lin, 2004). based on these views, the research aims to find out whether the knowledge management is one of the factors that improves performance directly or indirectly with enhancing innovation. the research proposes the similar research model, as seen in figure 1, that has already been tested by lópez-nicolás and meroño-cerdán (2011). the research is different from previous research by two aspects: 1) the conceptual model will be more detailed as the firm performance is divided into three performances—financial, process and internal performance; 2) it lays on the context of the research, which is the situation that encourage sbe to learn about knowledge management strategy and innovation to improve the firm performance. figure 1 conceptual model source: adapted from lópez-nicolás & meroño-cerdán (2011) moreover, the research is important due to the current situation of covid-19 pandemic in indonesia. the facts have shown that the impacts of the covid-19 pandemic on smes in indonesia bring businesses on this level of competition into a slump. data from the cooperative ministry illustrates that 1.785 cooperatives and 163.713 micro, small and medium enterprises (msmes) are affected by the pandemic (amri, 2020). according to mudassir (2020), at least 39,9% of small and medium enterprises (sme) have decided to reduce the stock of goods during the largescale social restrictions (psbb). meanwhile, 16,1% of smes have decided to deduct employees due to the closure of physical stores. the condition will become another reason for sbe actors ,especially in indonesia, to realize the importance of managing the knowledge and bringing up the innovation to come up with better performance. the research aims to extend more perspectives regarding the previous research by darroch (2005), discussing about relationship of knowledge management, innovation and performances. the research is the continuation from lópez-nicolás and meroño-cerdán (2011) that have specifically tested both codification and personalization and the consequences on innovation and on financial and nonfinancial performances. the research brings a different point of view from previous research since it focuses on sbe in indonesia and is developed during covid-19 pandemic in 2020. it is expected that the research conclusion will help sbes to build a good knowledge management strategy, and to achieve better profit on a specific condition and environment. to test the assessment, hypothesis are proposed: h1 : codification knowledge management strategy enhances innovation. h2 : personalization knowledge management strategy enhances innovation. h3 : codification knowledge management strategy has direct effect on firm performance. 70 the winners, vol. 22 no. 1 march 2021, 67-73 h4 : personalization knowledge management strategy has direct effect on firm performance. h5 : codification knowledge management strategy has an indirect effect on firm performance through an increase on innovation capacity. h6 : personalization knowledge management strategy has an indirect effect on firm performance through an increase on innovation capacity. ii. methods the research implements quantitative methods. the conceptual model shown in literature review is empirically tested through survey among indonesian smes. the sampling procedure is based on probability sampling technique with stratified sampling methods, in which the data are collected through online questionaries. the respondents are selected based on the ownership of business and the sum of employee that they have. the selected respondents are required to represent the sbe characteristics which only have maximum 30 employees on their firm. the research assumes 10% error and 90% confidence level. after conducting survey to 46 sbe owner in indonesia, 44 sbes owners’ valid responses are obtained from different categories of industries. complete description are shown in table 1. table 1 respondent profile no. measurement sample (%) company size: 1 ≤ 30 employees 95,7 2 > 30 employees 4,3 sme owner age: 3 ≤ 30 years old 76 4 > 30 years old 24 sector: 5 food & beverages 40 6 education 2 7 health 4 8 transportation 4 9 retail 13 10 online 30 11 others 7 geographical distribusition: 12 jakarta area 68 13 outside jakarta area 13 14 online 19 source: data processing (2020) variables used on the research are measured with multi-item scales that have been tested by lópeznicolás & meroño-cerdán (2011). the items used on the research are also based on similar types of research, which are knowledge management (km), innovation (inn) and, performance (fp) measures (choi & lee, 2003). confirmatory factor analysis (cfa) conducted for reliability and validity, the cronbach’s alpha and composite reliability above 0,70 chosen based on (hair, 2001), the average variance extracted (ave) is above 0,50 according to fornell & larcker (1981). the goodness-fit of model is observed based on nonsignificant chi-square, goodness fit index (gfi), comparative fit index (cfi) and incremental fit index (ifi) above 0,90, root mean square error of approximation (rmsea) below 0,80 and root mean square residual (rmr) between 0,05 and 0,06. the model structures are assessed using amos 20 and structural equation modelling (sem) since all paths could be evaluated at once. iii. results and discussions the results of confirmatory factor analysis are to check the reliability and validity of the structures used for survey with questionnaires. reliability and validity are checked using scale composite reliability (scr) and average variance extracted (ave) for construct validity, as seen on table 2. all constructs are suitable for analysis with the minimum score for composite reliability is 0,70 and for ave is 0,50. the results of cfa show that all constructs have already passed the minimum score. interesting results appear on research model testing. lópez-nicolás and meroño-cerdán (2011) have shown that all hypothesis from h1 to h4 are supported on this model. however, as seen on table 3, the results show different outcomes. only h1 and h4 support innovation and firm performance directly. on the other hand, knowledge management strategies have secondary effect on firm’s overall performance— through an increase on organization innovation capability—which supports h5 and h6. the findings prove that knowledge management is the essential factor for companies to innovate more, which differs from what barley, treem, and kuhn (2018) have mentioned that personalization motivates employee to build some innovation. it can be concluded that sbes in indonesia believe that the advancement of technology become one of the important things for improving the innovation and enhance performance through innovation, especially in the covid-19 pandemic, where online business is growing at a fast rate in indonesia. the situation shows huge opportunities for growth and thus, innovation is needed where it is established from the personalization since the employees are motivated. another interesting result shows that personalization directly affects firm performance. it comes out that the social interaction and employees’ characteristics directly impact firm performance. the results are considered reasonable since the research is conducted in indonesia where 71knowledge management strategy.... (aryo bismo, et al.) the communication between employee and customers is believed more important rather than focusing on innovation internally. the subordinate effect of knowledge management strategy on firm performance through the acceleration of firm innovation capacity (h5 and h6) is also substantiate. the result is consistent with several previous research by santoro et al. (2018) and lópez-nicolás & meroño-cerdán (2011), mentioning that knowledge management strategies give significant impact and enhancement to the increasing of innovation capacity. it is proven that both knowledge management strategy and innovation will improve the overall firm performance—financial, process, and internal—which is a critical issue for the sbe during the pandemic as it changes people’s behaviour and turns down the economic. therefore, to compete and survive, it is essential for sbes increase their performance through innovation and knowledge management. iv. conclusions the research has presented the approach to strategic knowledge management that refines innovation and firm’s performance. in addition, it is shown that the risk of knowledge management strategies (codification and personalization) gives impacts on innovation and organization performance, which will become empirical evidence for future research. apart from the risk, only personalization shows a great impact on the overall firm performance. this leads to the conclusions that the research could be relevant in many ways in helping sbes to develop financial, process, and internal performances in the pandemic. it is suggested that changing business model into an online business seems crucial to survive the market shrinks. the research result can be implemented to enterprises due to the new insight and useful findings for sbes since firms currently tend to ignore the main function of knowledge management. managers are suggested to implement knowledge management and adjust it to their firms, so they could elaborate strategy to increase performance through innovation. after understanding the primary use of knowledge management, enterprises can acknowledge the improvement especially on innovations, financial results, processes, and the capabilities of human resource as a result of understandable knowledge management strategy (codification and personalization). therefore, knowledge management strategy indirectly boosts the innovation and firm performance. the research has some limitations. the first one lies on the sample which is obtained from indonesia. thus, findings and insight might be applied to asean since the countries experience development on economics and technology the same way. nevertheless, if the case is based on other continents, research may come up with different results thus it is suggested future research use an international perspective, for example, combining firms from more than one country. however, reviewing companies from other countries across continents will have more challenges such as time difference, different company lifestyle, and different implementation of knowledge management. the second limitation lies on the questionnaires with subjective measures. future research is expected to consider objective table 2 validity and reliability no mean item cronbach’s alpha scr ave 1 codification 3,82 4 0,734 0,962 0,710 2 personalization 3,79 4 0,704 0,856 0,761 3 innovation 3,64 2 0,495 0,934 3,739 4 financial performance 3,72 3 0,327 0,713 0,374 5 process performance 3,93 4 0,731 0,862 0,626 6 internal performance 3,86 3 0,807 0,880 0,858 ᵡ2: 2,165, gfi: 0,59, cfi: 0,54, rmsea: 0,165, ifi: 0,568, rmr: 0,090 table 3 hypothesis testing result no p value loadings results 1 h1 cod  inn 0,072* 0,916 supported 2 h2 pers  inn 0,890 0,080 not-supported 3 h3 cod  fp 0,198 0,201 not-supported 4 h4 pers  fp 0,091* 0,698 supported 5 h5 cod  inn  fp 0,085* 0,214 supported 6 h6 pers  inn  fp notes: *p< 10% 72 the winners, vol. 22 no. 1 march 2021, 67-73 measures for firm performance, for example return on investment (roi) or return on assets (roa). it is possible that researchers expand the examination on knowledge management strategy by studying more about learning outcomes. references abualoush, s., masa’deh, r., bataineh, k., & alrowwad, a. 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(2004). a strategy-based process for implementing knowledge management: an integrative view and empirical study. journal of the american society for information science and technology, 60(4), 789-802. https://doi.org/10.1002/ asi.20999. the business strategy analysis …… (regina inderadi et al.) 31 the business strategy analysis of a forwarding company in indonesia regina inderadi1; larasati adiannisa2; nugroho j. setiadi3 1,2,3 management department, binus business school-undergraduate program jl. hang lekir i no. 6, senayan, jakarta 10270, indonesia 1regina@binus.ac.id; 2larasati.adiannisa@binus.ac.id; 3nugroho.setiadi@binus.ac.id abstract the aims of this research were to identify key internal and external success factors within the forwarding industry and the organization, and to analyze competitive positioning of a forwarding business in indonesia in order to obtain its optimal business strategy. research method applied was qualitative approach using case study. respondents consist of 20 managers at jakarta. data collection was conducted in october 2017 at jakarta using questionnaire distribution. the first stage of data analysis mapped company's strengths and weaknesses into internal factor evaluation (ife) matrix, mapped market opportunities and threats into external factor evaluation (efe) matrix, and mapped competition into competitive profile matrix (cpm) with the application of expert choice software. the results of the external and internal audit were used to generate alternative strategies by applying a business competitive position matrix, grand matrix strategy, and bcg matrix. three alternative strategies were selected from matrices conducted prior to quantitative strategic planning matrix (qspm), namely adding the new sub-business unit to serve delivery service for small-sized goods (product development), conduct it innovation to open opportunities in entering e-commerce business (market development), and liquidation. the outcome is a product development strategy, which is indicating that the best strategic decision for the future sustainability in the business competition is to add new sub-business unit in small-sized goods delivery. keywords: business strategy, business competition, forwarding business, logistics introduction development of globalization has enabled a free movement and has eliminated trade barrier between countries which make the international transactions easier (buckley & ghauri, 2004; hartungi, 2006). with the increase of interactions between nations, lots of national and multi-national companies are having cooperation and collaboration with companies from other nations and other continents. in the transaction between countries, export and import services are substantial. export and import activities are necessary to ensure the continuity of products or goods delivery between countries and continents, namely africa, asia, europe, america, oceania, and australia. without export-import services, international trading will not be as advanced as nowadays. according to indonesia central bureau of statistics, indonesia’s economic pace keeps changing due to the evolvement of technology and information systems, which are much more accessible by citizens. indonesian government supports export-import activities established by private institutions to stimulate economic pace in indonesia. as stated in indonesia constitution 2014, government and local government have the duty of encouraging the development and protection of staple goods production and essential goods within the country to fulfill the national requirement. furthermore, it is also stated in article 95 that government is responsible for establishing national logistics development to assure staple goods and essential goods availability. mailto:regina@binus.ac.id mailto:larasati.adiannisa@binus.ac.id mailto:nugroho.setiadi@binus.ac.id 32 journal the winners, vol. 19 no. 1, march 2018: 31-43 logistic services are formally stated in the constitution as “freight forwarding”. the companies that are included in this category of industry are cruises (such as apl logistics, nyk logistics, damco logistics, and oocl logistics), land transportation or trucking (such as iron bird logistics and bcs logistics), warehousing (such as bgr logistics and kamajaya logistics), courier freight business (such as dhl logistics, jne logistics), and air services (such as garuda logistics and lion parcel). as an archipelago country, for interconnection between islands and cities, indonesia really needs freight forwarding business that can maintain companies’ businesses needs particularly for the reason that either business to business (b2b) companies or any other companies undergo large-scaled trading transaction. and for this type of businesses, freight forwarding service is crucial especially for goods with weight up to 100 kg. the types of trading goods are varied, including special handling goods either in the delivery or in permission, for example, airplanes’ spare parts, medicines, animals. one of the oldest and most trusted international companies in indonesia in trading transportation, export-import, and domestic delivery is the main focus of this research. in addition, some forwarding service companies which execute their business activities by applying different kinds of the delivery method such as trucks for landline, airplanes for airway, cruises for sea line, are also the main objects of this research. prima international cargo, ltd., for instance, owns a modern facility and network for over 1500 cities worldwide. the standard operating procedure of this corporation refers to iso 9001/2008 issued by sai global australia. all permissions either through the international air transport association (iata), international federation of freight forwarders associations (fiata), ppjk (customs expert), edi indonesia, or gudang berikat, are required to transport the shipment. due to unstable global market and market condition, such as threats from sea line, uneven infrastructure development for landline, high taxes for aero freight, it is indicated that these are huge threats for both small and large freight company (czinkota & ronkainen, 2005; sudrajat et al., 2017). many companies in this field are directly affected by the current market situation, which can be seen from the decreasing number of delivery service users in three recent years. moreover, the current low competitiveness of freight forwarding businesses in indonesia has encouraged to conduct research in purpose to explore the issues and to identify the best model to resolve it. conceptually, company’s level of competitiveness can be leveraged by reconstructing its competitive advantage, capability, and its resources (ireland, hoskisson, & hitt, 2015). previous researches prove that competitiveness can be improved through performance improvement (huda & wibowo, 2013; monteiro, alves, & sameiro-carvalho, 2013) and innovative-capability (tuominen & hyvonen, 2004). however, these studies only determine two connectivities, namely connection between innovative capability with performance, innovative capability with competitive advantage and relation between performance and competitive advantage. in addition, competitive advantage can be defined by strategic management theory with a dynamic-capability approach (volberda & elfring, 2011). a largest and oldest forwarding company in indonesia also experiences a dramatic decrease in the number of users that is dropped 50% from previous year’s number. this threat is affecting the company’s sustainability if the issue is not managed well. this condition is automatically categorized as a declined company in product life cycle graphic. at this stage, sales will decrease constantly aligned with the profit. therefore, to sustain and compete in forwarding industry, top management of the companies need to strategically think and implement the best strategy for the unstable condition in the market. a company must develop its effective strategy to tackle these issues. a company’s ability to compete within an industry in the long term depends on its ability to develop an innovative business model (gassmann, frankenberger & csik, 2014). innovation requires resources to be strategically allocated to develop and utilize productive resources (lazonick, 2015). the business strategy analysis …… (regina inderadi et al.) 33 according to burgelman, christensen, and wheelwright (2009), typically innovative strategies in business units are related to a new product or service or new delivery and production system, which can be categorized into the terms of market entry, technological leadership or followership, the scope of innovativeness, and rate of innovativeness. competitiveness is defined as the ability of a company in utilizing its resources or factor of production in innovative and productive way to increase output number, increase market share, supply product or service, respond the market, win the competition, and create customers value (liu et al., 2010; chikan & gelei, 2010; altomonte, aquilante, & ottaviano, 2012; zueva & shakhnazaryan, 2014). competitiveness is viewed as a static concept where a company can be competitive in particular time, however, in the dynamic business situation, flexibility, agility, and adaptability have become important resources. barney, wright, and ketchen (2001) have conducted several studies about the relations between competitive resources and performance, which sustaining in the highturbulence market is much relying on competitiveness ability. feurer and chaharbaghi (1994) have stated that competitiveness is illustrated as a multidimensional and relative concept. however, competitiveness and competitive advantage are different in definition. competitive advantage is a center of strategic management study and viewed as a crucial aspect of company’s performance. while competitiveness is indicating a company’s capability in designing, producing, and marketing their products better than its competitors, where the capability can be evaluated by price, quality, and the technology factor (depperu & cerrato, 2013). there are several techniques for building competitiveness. strengths, weaknesses, opportunities and threats analysis are most effective when it is part of a wider management audit (kourdi, 2009). according to ireland, hoskisson, and hitt (2009), an opportunity is a condition in the general environment that, if exploited, help a company achieve strategic competitiveness, while a threat is a condition in the general environment that may hinder a company’s efforts to achieve strategic competitiveness. additionally, the competitive profile matrix (cpm) identifies a firm’s major competitors and its particular strengths and weaknesses in relation to a sample firm’s strategic position (david, 2011). on the other hand, understanding how to leverage the firm’s unique bundle of resources and capabilities is a key outcome decision makers seek when analyzing the internal organization (ireland, hoskisson, & hitt, 2009). they also suggest that resources, capabilities, and core competencies are the foundation of competitive advantage. resources consist of financial, technological, and human resources, while capabilities consist of distribution, marketing, management information systems, and so forth, and core competencies consist of innovation and service and so forth. nevertheless, the questions are what the organization’s strengths and weaknesses are and how could the organization improve them. additionally, another question is to what extent does the company utilize its opportunities and avoid its threats, and how can the company develop or offer new or existing services. it is also crucial to find out what are the factors that represent the company’s competitive position that enables the company to select the most optimal strategic decision. to answer those questions, several stages should be applied. the matching stage of strategy formulation covered in this research consists of business competitive position matrix, grand strategy matrix, and bcg matrix. these tools rely upon information derived from the input stage to match external opportunities and threats with internal strengths and weaknesses (david, 2011). in the end, there is only one analytical tool in the literature established to define the relative attractiveness of feasible alternative strategies, which is called as quantitative strategic planning matrix (qspm). constructing a qspm involves a series of six steps (david, david, & david, 2016). the first step is to list key external and internal factors from the input stage, then continued with providing weight for each of the factors. the next step is to list potential actions, which these actions will be selected only one. attractiveness score is given to the factor, which is impacting the strategy. 34 journal the winners, vol. 19 no. 1, march 2018: 31-43 the total attractiveness score (tas) indicates which strategy should be chosen. however, despite the limitations of qspm analysis, it enables marketers and businesspersons to assign numerical values to reveal judgment as to the relative importance of factors and the relative attractiveness of strategies (david, david, & david, 2016). importantly, through the stages have described, it is expected that every freight and forwarding businessperson can take advantage of the results of this research as a foundation to formulate their business strategy. methods to sustain in the unstable and dynamic business environment in indonesia, a forwarding company must pay attention to environmental conditions by utilizing its internal strengths and improving its weaknesses. however, the question is to what extent the company has avoided the threats and taken advantage of market opportunities. how the company can advance its internal strengths such as resources and core competencies to restore its weaknesses in order to sustain in the competition. furthermore, another crucial question is to what extent the company can apply the best business strategy to increase its competitiveness. this research is conducted by qualitative research where data are obtained by using the questionnaires containing questions to the respondents. the respondents were top management people including managers from one forwarding company as the main focus of this study. to compare its competitive position, four other forwarding companies’ managers were also interviewed which made the total respondents were 20 people. this data is taken on october 2017. the first stage of data analysis is to map company's strengths and weaknesses into internal factor evaluation (ife) matrix, map market opportunities and threats into external factor evaluation (efe) matrix, and map competitors into competitive profile matrix (cpm) with the application of expert choice software. the results of the external and internal audit are used to generate the alternative strategies by applying a business competitive position matrix, grand matrix strategy, and bcg matrix. three alternative strategies are selected from matrices conducted prior to quantitative strategic planning matrix (qspm). scopes of data retrieval are internal aspects of the company related to strengths and weaknesses, and external aspects related to opportunities and threats. moreover, business competitive position matrix is also used. figure 1 shows the research method stages. figure 1 stages in strategic decision making of a forwarding business in indonesia stage 1 the input stage: efe matrix, ife matrix, cpm stage 2 the matching stage: business competitive position matrix, bcg matrix, grand strategy matrix stage 3 the decision stage: qspm the business strategy analysis …… (regina inderadi et al.) 35 results and discussions there are three steps in this process; they are input phase, matching phase, and decision phase, to analyze evaluation stages and strategy formulation to achieve competitive advantage (barney & hesterly, 2015; david, 2015). at input phase, external factors evaluation (efe) matrix and internal factors evaluation (ife) are applied as the input of evaluation. collected external data is associated with politics, economics, social, technology, government, law, environment, and industry competition that are extracted from respondents. these factors will be weighted and scored based on respondents’ rating toward the company. on the other hand, ife matrix is applied to evaluate internal factors, which are relevant with strengths and weaknesses of the company. in this research, data and internal aspects are gathered from the functional unit in the company, including management, finance, human resources, operational, and other internal function within the organization. these factors will be weighted, rated, and scored in accordance with respondents’ perspectives and opinions. table 1 and table 2 exhibit the calculation result of ife and efe matrix from prima international cargo, ltd. as the main focus of the study of forwarding company in indonesia. from table 1, the average weighted score is 2,593; this means that prima international cargo ltd. is internally strong (weighted score is above average 2,5). however, from external aspects, as seen in table 2 efe matrix, it can be concluded that average weighted score is 2,476. this score is below industry average score (2,5) and shows that prima international cargo ltd. is externally weak as a forwarding company. table 1 ife matrix result no. key internal factors weight rating score strengths 1 prima international cargo ltd. has 43 years of experience in freight forwarding industry. 0,092 4 0,368 2 prima international cargo ltd. is a member of iata since 1988. 0,088 4 0,352 3 having a worldwide network by being a member of world air cargo organization (waco) exclusively since 1976. 0,121 4 0,484 4 prima international cargo ltd. has some features and functions such as warehouse, trucking, distribution, and so forth. 0,111 3 0,333 5 prima international cargo ltd. has been certified by ppjk and edi indonesia. 0,079 4 0,316 weaknesses 1 software system of prima international cargo ltd. is not well accommodated it development in freight forwarding and logistics field. 0,099 1 0,099 2 prima international cargo ltd. is experiencing difficulties in finding potential personnel with expertise in freight forwarding and logistics. 0,115 2 0,23 3 prima international cargo ltd. is having ineffective operational branches. 0,094 1 0,094 4 profit reached minus point in 3 recent years. 0,085 1 0,085 5 the weak brand image of the company 0,116 2 0,232 total 2,593 table 2 efe matrix result no. key external factors weight rating score opportunities 1 increased in number of production for both medium and large industry 0,104 3 0,312 2 e-commerce continues to rise in emerging markets, creating more opportunities in developing and increasing company’s revenue. 0,097 3 0,291 36 journal the winners, vol. 19 no. 1, march 2018: 31-43 table 2 efe matrix result (continued) no. key external factors weight rating score opportunities 3 infrastructure development that connecting areas and cities within indonesia is increasing and enabling development of new businesses. 0,126 4 0,504 4 increased in number of shipment through air freight in recent year 0,114 4 0,456 5 government policy issuance about regulation, ease of doing business and investment and trading which initiating opportunities to do business expansion and joint venture with foreign investment. 0,08 3 0,24 threats 1 government policy for foreign investment in indonesia has made multinational company with large capital entering freight forwarding business competitively from upstream to downstream. 0,09 1 0,09 2 with the policy and ease of investment and asean economic society at the end of 2015 and beginning of 2016, there will be more similar businesses enter indonesia’s market. 0,107 1 0,107 3 indonesia may join trans-pacific partnership in order to liberate trading to open more opportunities to foreign investors. 0,088 1 0,088 4 export-import situation has been unstable since the last 5 years. 0,08 2 0,16 5 express courier service company has begun to expand their business into large scale shipment 0,114 2 0,228 total 2,476 furthermore, to assess business competition profile of forwarding business in indonesia, competitive profile matrix (cpm) is applied to identify key competitors based on strengths and weaknesses and connect them with company’s strategic position within the market (khan, alam, & alam, 2015). in this process, prima cargo international ltd. is compared with two competitors in the same industry. in conducting cpm, key success factors consist of both key internal and external factors. table 3 shows that there are two main competitors of prima cargo international ltd., namely cardig aero service ltd. and samudra ltd. weighted score of cardig aero service is 3,713 while samudra ltd.’s weighted score remains 3,269, and prima cargo international ltd. is 3,576. in conclusion, prima cargo international’s competitive position is in the middle of cardig aero service ltd. and samudra ltd. table 3 competitive profile matrix of forwarding business no. critical factors weight prima international cargo ltd. cardig aero services ltd. samudra ltd. rating score rating score rating score 1 utilization of capital investment effectively and efficiently 0,269 4 1,076 4 1,076 4 1,076 2 a quick and responsive decision making 0,188 4 0,752 4 0,752 3 0,564 3 effective personnel’s regulation and sop 0,119 4 0,476 3 0,476 3 0,357 4 loyal and qualified human resources 0,287 3 0,861 4 0,861 3 0,861 5 comprehension and commitment of company’s vision and mission by owner, board of directors and employees 0,137 3 0,411 4 0,548 3 0,411 total 1 3,576 3,713 3,269 the business strategy analysis …… (regina inderadi et al.) 37 in the next analysis stage, business competitive position matrix provides the recommendation for strategic resources allocation and strategic development for the multi-businesses company by comparing prima international cargo ltd. with its four competitors that can be seen table 4. it can be stated that position and relative competitive development are two fundamental frameworks which should be considered in determining the best strategy based on the portfolio context. in this competitive position evaluation, a company’s business units can be classified into four main categories; quadrant i (high growth rate, high market share), quadrant ii (high growth rate, low market share), quadrant iii (low growth rate, high market share), and quadrant iv (low growth rate, low market share). this analysis approach is identical with boston consulting group (bcg) matrix method, but with different practice (dennis-debrecht, 2014). in bcg matrix, strategic business unit (sbu) of a corporation is assessed based on their position and competitive growth, while in this approach, position and growth of companies competing in the same industry are evaluated. figure 2 shows bcg matrix of four forwarding business in indonesia. table 4 business competitive position matrix and business growth company name 2015 2016 relatives market share market growth rate asset (percentage) prima international cargo ltd. $9.296.021 $4.302.426 0,01 -0,53% 0,412% samudra indonesia ltd. $451.126.030 $406.437.733 1,00 -0,09% 38,984% iron bird ltd. $396.602.985 $365.889.358 0,90 -0,07% 35,095% cardig aero services ltd. $118.260.950 $135.644.407 0,33 0,14% 13,010% soechi lines ltd. $141.833.461 $130.288.044 0,32 -0,08% 12,496% total $1.042.561.968 figure 2 bcg matrix of forwarding businesses in indonesia similar to business competitive position and industry growth, grand matrix strategy consists of two evaluative dimensions. this matrix is using information of input phase to consolidate internal opportunities and external threats and classified company into four main separated categories (aithal, 2016; barney & hesterly, 2015; david, 2015). figure 3 shows grand matrix strategy of prima international cargo. 38 journal the winners, vol. 19 no. 1, march 2018: 31-43 figure 3 grand matrix strategy of prima international cargo finally, quantitative strategic planning matrix (qspm) is the decision stage which only one framework used in the strategy analysis and choice. the purpose of this method is to identify strategy alternatives by selecting attractiveness score for each strategy. table 5 shows qspm for strength and weaknesses, while table 6 shows qspm for opportunities and threats. table 5 qspm for strengths and weaknesses key factors weight adding sub business unit to serve delivery service for small sized goods or individuals conduct it innovation to open opportunities to enter e-commerce business liquidation as tas as tas as tas strengths prima international cargo ltd. has 43 years of experience in freight forwarding industry. 0,092 2 0,184 4 0,01693 1 0,092 prima international cargo ltd. is a member of iata since 1988 0,088 2 0,176 4 0,01549 1 0,088 having a worldwide network by being a member of world air cargo organization(waco) exclusively since 1976 0,121 2 0,242 4 0,02928 1 0,121 prima international cargo ltd. has some features and functions such as warehouse, trucking, distribution, and so forth 0,111 2 0,222 2 0,222 1 0,111 has been certified by ppjk and edi indonesia 0,079 2 0,158 3 0,237 1 0,079 weaknesses software system of prima international cargo ltd. is not well accommodated it development in freight forwarding and logistics field 0,099 2 0,198 3 0,297 1 0,099 the business strategy analysis …… (regina inderadi et al.) 39 table 5 qspm for strengths and weaknesses (continued) key factors weight adding sub business unit to serve delivery service for small sized goods or individuals conduct it innovation to open opportunities to enter e-commerce business liquidation as tas as tas as tas weaknesses prima international cargo ltd. is experiencing difficulties in finding potential personnel with expertise in freight forwarding and logistics 0,115 2 0,23 4 0,46 1 0,115 prima international cargo ltd. is having ineffective operational branches 0,094 3 0,282 4 0,376 1 0,094 profit reached minus point in 3 recent years. 0,085 2 0,17 4 0,34 1 0,085 weak brand image of the company 0,116 3 0,348 4 0,464 1 0,011 6 total 1 2,21 2,4577 1 table 6 qspm for opportunities and threats key factors weight adding sub business unit to serve delivery service for small sized goods or individuals conduct it innovation to open opportunities to enter e-commerce business liquidation as tas as tas as tas opportunities increased in number of production for both medium and large industry 0,104 3 0,312 4 0,416 1 0,104 e-commerce continues to rise in emerging markets, creating more opportunities in developing and increasing company’s revenue 0,097 3 0,291 4 0,388 1 0,097 infrastructure development that connecting areas and cities within indonesia is increasing and enabling development of new businesses 0,126 3 0,378 4 0,504 1 0,126 increased in number of shipment through air freight in recent year 0,114 4 0,456 4 0,456 1 0,114 government policy issuance about regulation, ease of doing business and investment and trading which initiating opportunities to do business expansion and joint venture with foreign investment 0,08 3 0,24 2 0,16 1 0,08 threats government policy for foreign investment in indonesia has made multinational company with large capital entering freight forwarding business competitively from upstream to downstream 0,09 0,18 3 0,27 1 0,09 40 journal the winners, vol. 19 no. 1, march 2018: 31-43 table 6 qspm for opportunities and threats (continued) key factors weight adding sub business unit to serve delivery service for small sized goods or individuals conduct it innovation to open opportunities to enter e-commerce business liquidation as tas as tas as tas threats with the policy and ease of investment and asean economic society at the end of 2015 and beginning of 2016, there will be more similar businesses enter indonesia’s market 0,107 0,321 2 0,214 1 0,107 indonesia may join trans-pacific partnership in order to liberate trading to open more opportunities to foreign investors 0,088 0,264 2 0,176 1 0,088 export-import situation has been unstable since the last 5 years 0,08 0,24 2 0,16 1 0,08 express courier service company has begun to expand their business into large scale shipment 0,114 0,228 2 0,228 1 0,114 total 1 2,91 2,972 1 from sum total attractiveness score, it can be concluded that market penetration total score is 5,21(2,21+2,91), product development total score is 5,4297, and liquidation is 2. the highest score is product development strategy. conclusions internal factor evaluation (ife) matrix evaluates the major strengths and weaknesses in the functional areas of forwarding business. it is noted that the total weighted score of ife matrix 2,593 is barely above the average of 2,50, which indicates there is definitely the area for improvement in operations, strategies, marketing, and policies aspect. moreover, the ife matrix provides important information of the key internal factors. firstly, prima international cargo ltd. has been operating for the long period of time in freight forwarding industry and has possessed a lot of certifications, which are their main strengths and considered as really important factors to being successful in this business. secondly, major weaknesses are its lack of advanced software utilization, ineffective branches, and minus profit number in recent years. furthermore, from competitive profile matrix (cpm), prima international cargo ltd. receives a 3,713 overall rating which suggesting that this forwarding firm is better in some areas compared with the other two firms. additionally, external factor evaluation (efe) matrix identifies both opportunities and threats that affect prima international cargo ltd. and its industry. the major opportunity for this firm is an increase in the number of shipment through air freight in recent year. while the major threats are the newly opened indonesia’s market for foreign investors and instability of export-import activities in indonesia. it is noted that the total weighted score of 2,476 is below the average of 2,50, so it can be concluded that this forwarding business is not doing well, not taking many advantages of the external opportunities, and not excellent in avoiding the threats facing the firm. the business strategy analysis …… (regina inderadi et al.) 41 the second stage is called the matching stage that includes the business competitive position matrix, boston consulting group (bcg) matrix, and grand matrix strategy. shortly, from bcg matrix, prima international cargo ltd. has a low relative market share position and competes in a slow or no-market-growth industry. some strategies to pursue are liquidation, retrenchment, and divestiture. on the other hand, from grand matrix strategy, the firm positioned in quadrant ii that needs to evaluate its position in the market and aware that it is unable to compete effectively. some possible strategies are market development, market penetration, product development, and liquidation. the last stage is called the decision stage, which is to find out what is the most optimal strategic decision, resulting in total attractiveness scores of 5,4297 that the analysis indicates the business should develop an e-commerce business and develop its it system to support the new business. references aithal, d. p. 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(2014). logistica vozvratnyh potokov vtorichnyh resursov. vestnik baltiiskogo federalnogo universiteta im. i. kanta (9), 142-143. *corresponding author p-issn: 1412-1212 e-issn: 2541-2388 57 the winners, 22(1), march 2021, 57-65 doi: 10.21512/tw.v22i1.7019 does discount matter in indonesia e-wallet race: a generation z e-wallet preferences during pandemics arum prasasti1*; fatwah inna aulisaina2; muhamad arif rahman hakim3 1,2,3department of management, faculty of economics, state university of malang jl. semarang no. 5, lowokwaru, malang, jawa timur 65145, indonesia 1arum.prasasti.fe@um.ac.id; 2fatwah.inna.1904136@students.um.ac.id; 3muhamad.arif.1904136@students.um.ac.id received: 30th january 2021/ revised: 05th march 2021/ accepted: 05th march 2021 how to cite: prasasti, a., aulisaina, f. i., & hakim, m. a. r. (2021). does discount matter in indonesia e-wallet race: a generation z e-wallet preferences during pandemics. the winners, 22(1), 57-65. https://doi.org/10.21512/tw.v22i1.7019 abstract the research aimed to examine the intention of generation z when using e-wallet for payments and the influence of discounts towards using e-wallet in the time of pandemics. the research applied a qualitative method with total data of 22 students, collected using in-depth interviews through whatsapp free call. the result shows that discount gives an impact on generation z in choosing the e-wallet, but a long-term loyalty is not guaranteed. the finding demonstrates that there are other influential factors for generation z to choose e-wallet, namely ease of use, interrelated apps with the e-wallet, the security system, and cashless society. the limitations of the research lie in the relatively small numbers of respondents. due to pandemics with physical distancing requirements, the research only carries out on data collected from 22 students from economics faculty in the state university of malang, indonesia. however, the research provides an insightful analysis for digital payments industry as a reference. it is expected that fellow researchers and academicians use the research as a fundamental to further investigate digital payments, especially amongst generation z in indonesia or other parts of the world. keywords: e-wallet race, consumer preference, covid-19 pandemic i. introduction in indonesia, the use of electronic wallet (e-wallet) as a payment method increasingly grows. e-wallet transaction has reached usd 1,5 billion or approximately rp 21 trillion. the data from bank indonesia in 2019 has proven that the digital payment user in indonesia is exponentially increasing. whereas e-wallet platform by indonesian internet-based company has been increasing by 50% since q4 in 2017 to q2 in 2019 (devita, 2019). the multitude of local financial technology (fintech) companies make indonesian people choose them as the favourite fintech to use. the data of iprice and app annie show the top five most used e-wallet in indonesia, namely gopay, ovo, dana, linkaja, and jenius (devita, 2019). the e-wallet platform is currently on price war to attract more consumers, especially the generation z. the demographic of indonesian shows that generation z population in the 2030 will be bigger than before (devita, 2019). therefore, the e-wallet industry in indonesia holds a huge potential. the use of e-wallet cannot be separated from the internet. internet users in indonesia are dominated by millennials which have reached around 40% of the total population. the current and future indonesian market is also dominated by millennials and generation z. in 2020, their population will be the largest and will continue to dominate until 2035 (alvara strategic research, 2019). there are 88,66% of young people who own cell phones. referring to the survey results in 2019 concerning indonesian millennial and generation z, 98,2% of them spend 4-6 hours per day on the internet via smartphone (alvara strategic research, 2019). however, the number gen z using the internet is higher than millennials by 13% (hinduan, anggraeni, & agia, 2020). gen z consumers is expected to increase their per capita spending by more than 70% in the next five years. gen z and millennials have a passion for digital media, where e-wallet is one of their digital tools (bona et al., 2020). there are several factors that influence millennials to use e-money or cash (“cashless society”, 2019), namely: 1) cash as an unsafe option, 2) budgeting and monitoring expenses, 3) speed and convenience, and 4) the availability of discounts and/ or cashback. regarding gen z, 34% of them globally 58 the winners, vol. 22 no. 1 march 2021, 57-65 use e-wallet with similar reasons (jones, 2020). the country e-wallet platform is now thriving by using discount to attract gen z. if one walk up to the high street or shopping mall, they will see many of these e-wallet offering discount or cashback (putera, 2019). theoretically, price cut or price promotion is a common marketing tools for business due to its straight forward implementation and promising in a short run (drechsler et al., 2017). in practice, a consumer can save subsequent amount of money when purchasing a product on discount. recent evidence suggests that discounts represent the promise that consumers will gain more benefits on their shopping value (çavuşoğlu, demirağ, & durmaz, 2020). price reductions are essentially aimed at increasing consumers' interest, product sales and the attractiveness of the product (janiszewski & cunha, 2004). price becomes the initial stages before consumer buy a product. this perception of value includes rational consumer evaluations of the cost consumers pay to obtain the product (çavuşoğlu et al., 2020). in general, if consumers purchase a product at the lowest price, they will gain more benefits from the product (çavuşoğlu et al., 2020). ovo, gopay, and many other e-wallets in indonesia are strengthening the consumers’ trust and loyalty by giving discounts on their applications, even more during pandemics (cicatiello, secondi, & principato, 2019). those promotional activities are heating up between e-wallet players since the last few years (putera, 2019). catching on the phenomenon of e-wallet race in indonesia, the research has two research objectives, namely: (1) to examine gen z’s intention and motive in using e-wallet and (2) to find out the influence of discount for gen z in choosing e-wallet. previous research have established that gen z are technologically savvy. (roblek et al., 2019; turner, 2015; pérez-escoda, castro-zubizarreta, & fandosigado, 2016). in addition, the emerging of electronic payment provides multiple benefits such as low risk, convenience, and helping stakeholders in the financial institutions (dennehy & sammon, 2015; vlasov, 2017; bezhovski, 2016). however, much of the research has been separately conducted in nature and has not drawn any research towards gen z’s intention in using e-wallet, and/or how discount influences their decision to use e-wallet. the research attempts to show that gen z’s choice on e-wallet is influenced by many factors, one of which is discount as the biggest contributor, especially in the time of pandemic. the year of 2020 begins with a virus outbreak in wuhan, mainland china that has spread worldwide. the pandemic brought changes to people’s livelihood, behaviours, and habits. therefore, it affects their financial matter. it is believed that one financial problem tends to make people save money by cutting purchases or find products on discount. considering recent events, the research is commenced. research has shown that the virus can be transmitted through passing money from one’s hand to others’, which increases the surge of digital payments amongst people (de’ et al., 2020). the research uses qualitative methods to reveal gen z’s behaviour in state university of malang. by employing qualitative modes of inquiry, the research attempts to illustrate how gen z behaves towards e-wallet, and whether discount influences their decision to use e-wallet during pandemics. data are collected using in-depth-interview through phone call and video call since it is considered one of the best ways to understand consumer behaviour. by understanding the perspective of the largest population in indonesia, it seems hard to ignore this generation’s existence and the critical role they play, especially in this strange and difficult time. the united states scholar defines gen z in a different classification. parker and iglenik (2020) point out that the generation cohort is divided into a few categories, namely: 1) the silent generation (born in 1922-1945), 2) the baby boomers (born in 19461964), 3) generation x (gen x) (born in 1965-1980), 4) millennials (born 1981-1996), and 5) generation z (gen z) (born 1997-onwards). according to huang and cheng (2013), gen z is aged between 15-24 years old (born after 1990), currently in their late adolescence and early adulthood. gen z has been labelled as digital natives generation (huang & cheng, 2013; roblek et al., 2019). gen z grows up in the booming period of communication technologies and tends to use various technologies on a daily basis (casey, 2021). these characteristics coincide with consultancy reports in malaysia that informed youths (i.e., born around 1997) as gen-z who spends a great deal of time using devices such as browsing social media sites and buying products and services via online (nielsen, 2012). gen-z is also endorsed as the i-generation, net-gen and digital natives growing up during the technology explosion (turner, 2015). this generation's characteristic is education-oriented which holds a great deal of knowledge about new technologies and devices (nielsen, 2012; pérezescoda et al., 2016). they are more interested in exploring new technologies, persistence on ease to use devices, and a desire to feel secure and prefer to temporarily escape from realities whenever they encounter challenges (wood, 2013). there have been several research on electronic wallet (e-wallet). kim, mirusmonov, and lee (2010) explain that mobile payment (m-payment) is any payment in which a mobile device is used to initiate, authorise and confirm a commercial transaction. the presence of m-payment has manifested multiple benefits to various stakeholders such as financial institutions, mobile network operators, integration partners, merchants, consumers and regulators (dennehy & sammon, 2015). vlasov (2017) points out that customers would have low risk of losing money by using e-money. in addition, e-money could eliminate tension when stores do not have small change, and customers could easily top up their balance and transfer money amongst their circle (yeboah-asiamah et al., 2018). customers could access transaction records at any time to keep track and manage their 59does discount matter in indonesia.... (arum prasasti, et al.) spending (baqer et al., 2019). after the growing trend in e-wallet, baqer et al. (2019) convey that e-wallets competes to add additional values in the form of loyalty cards, special deals and embed cutting-edge technology to enhance customer security. the intention to use e-wallet has been engaged in several studies. hill (1977) emphasizes that the high level of usefulness will significantly affect the intention of use. he states that customers try to find the simplest way to make the payment. they tend to compare the previous payment method with the current one to assess the usefulness of each payment method, in order to get simpler payment method (kim et al., 2010). the intention to use can be someone's behaviour as how they continuously get the value and trust play of the system (zhou & lu, 2011). digital stuff’s ease of use increases the user’s awareness that using a particular system is easy to control. it has been considered as the valuable aspect that stimulates the intention to use technology (venkatesh, 2000; davis et al., 1989). innovation interest seems much higher in developing market such as malaysia, indonesia, india and thailand (“asia pacific e-commerce”, 2020). in addition, the perceived risk of covid-19 significantly affects customers’ intention to use e-wallet. the results show that covid-19 outbreak has made customers in many countries worry about getting infected by the virus that can possibly be transmitted through physical money (aji et al., 2020; ather et al., 2020). discount as a promotional tools is largely explored in several previous research. price cut or price promotion is a common marketing tools for business due to its straight forward implementation and promising in a short run (drechsler et al., 2017). the research subsequently follows a previous research mentioning that discount cannot guarantee the long term effects of a product purchase (jedidi et al., 1999). moreover, foubert et al. (2018) emphasize that price cuts hold a cost advantage, which is considered more appealing to the consumers. as such, discount is provided by business not only to promote their product but also to retain current consumers (cicatiello et al., 2019). ipsos also demonstrates that most first-time e-wallet users are motivated by promotions, hence the phenomenon of e-wallet competition is indeed similar (agung, 2020). consumer preference is regarded in several works of literature. the main factor on influencing consumer preference, satisfaction, and perception is the quality of the product itself (rust & oliver, 2000). suls & wallston (2009) also confirm the benefit of platforms such as ease of use, security, reliance, and efficacy are the most affecting issues about technology control and adoption. the lower grade of these factors could lead the preference and satisfaction to a lower level in adopting digital technology. most of the consumers have a preference on using the latest technology which makes things more efficient and effective (lai, 2017). digital mobile payment provides service for several types of transaction such as bill payment, fund transfer, and shopping. it is believed that consumer will share the experience to their friends, family, and acquaintances when they feel satisfied (dahlberg et al., 2008). moreover, consumers use technology continually only if it gives them benefits and fulfils their needs (karnouskos & fokus, 2004). ii. methods the research uses interview method to examine the intention of using e-wallet and impact of discount towards user's intention to choose e-wallet product. interview in qualitative research is one of the most important step in data collection (prasasti, 2018). interview has been commonly used in field study and ethnographic research (qu & dumay, 2011). there are numbers of well-known interview types to collect facts such as focus group discussing and indepth interviews (gubrium et al., 2012). qualitative research covers the way of asking the limitation of study and specific information that the researchers aim for (rubin & rubin, 2012). basically, the art of qualitative research lies on the orientation of asking question and interpreting answers. to identify the factors that influence user's intention to choose the e-wallet, the questions focuses on features—discount, comfort, and security—and how big the impact of discount is. the research is supported by the high numbers of gen z to do online shopping in various electronic platform. the high level of consumption in indonesia compared to another asean country becomes the reason to conduct the research. such high level of consumptive behaviour is contributed by the presence of e-marketplaces in indonesia. most indonesians choose online shopping rather than offline shopping (“netizen indonesia paling gemar”, 2019). therefore, this phenomenon should have an impact on the use of e-wallet in indonesia. reports have shown that indonesian consumers tend to shop online during the pandemic to avoid being exposed to the virus. this is prevalent amongst gen z which is commonly called as post-millennial. it seems that they likely spend their time and money on online shopping and transactions. this group of informants are selected as the research would like to find out the significant impact on the use of e-wallet in indonesia (tashandra, 2018). target sample of the research is aimed to the student of economic and business faculty, state university of malang, class of 2019. covid-19 pandemic gives impact on how in-depth-interview is carried out. the initial plan is to do face-to-face interview. however, due to the covid-19 surge, the informants are interviewed via whatsapp call as they should stay at home. the duration of the interview is about 1020 minutes long. the interviews are conducted during october 2020, 8 months into pandemics. the respondents are being approached by selecting several groups of students who have already undertake marketing management class classified into the gen 60 the winners, vol. 22 no. 1 march 2021, 57-65 z category. the informants selected in this category are assumed that they have already understood the discount concept in marketing. to ensure validity and reliability of the research, the informants’ data is analysed by implementing data saturation technique to ensure no new information coming out from all interview results (hayashi et al., 2019). the interview begins with asking about their consent to record their name and voices until finally, 22 respondents are selected to participate. the sample of the interview questions are provided: 1) how do you make payments in every online transaction to date in 2020? (qr1); 2) how often do you use e-wallet in your transaction for the last 7 months? (qr2); 3) what makes you choose e-wallet as your payment preference? (qr3); 4) which one of these e-wallets that you frequently used? (ovo, gopay, dana, linkaja, shopeepay) (qr4); 5) which factors that influence you the most for using a specific e-wallet product? is it discount? (qr5); 6) if there will be no more discount offered, are you going to switch to another e-wallet? (qr6) the data are analysed using content analysis by tabulating, grouping, and classifying the interview results. content analysis is defined as a procedure for reviewing the contents of recorded text, allowing the researcher to comprise a larger extent of textual information, and to systematically recognise and classify its properties such as frequencies of the most used key words (klenke, 2016). in recent years, scholarly awareness in content analysis methods has increased in variation of disciplines involving strategic management, psychology, and being attributed in software equipment (duriau et al., 2007; waller & fawcett, 2013). in another note, content analysis consents the researcher to create replicable and effective inferences from data to their text (krippendorff & bock, 2009). this kind of text can be defined as book or articles, and also non-text based such as photography, video text, or another communicative medium. data in the research are analysed based on interview excerpts and supporting literatures using qualitative research software, nvivo, to code and understand essential key findings. iii. results and discussions despite many limitations in conducting faceto-face interviews due to the covid-19 pandemic, whatsapp free call is used for the data collection. this does not hindrance the process, yet the interview has been a successful one. the 10-to-20-minute interview comes up with good responses from our informants. according to the first question (qr1), respondents’ answer is in line with previous research that they are choosing electronic wallet for any online payment. from 22 respondents, it is found that they used electronic wallet mostly for payment method. additionally, the finding shows that there are individuals who use more than one type of electronic wallet. however some respondents indicate that they are still comfortable with conventional payment method. being indolent for doing top-up and often running out of e-wallet balance are the reasons for them to use cash. here is the excerpt of conversation: interviewer: how do you make payments in every online transaction to date in 2020? informant: mm, i usually use e-wallet, but it depends on the situation (interview 21, khansa) informant: i usually make the payment with cash and m-banking, but for online transportation i often use e-wallet (interview 22, mifta) informant: it is balance, i do transaction 50% using cash and 50% using e-wallet. (interview 8, nisa) following qr2, all respondents have agreed that all of them use e-wallet for making an online payment, yet it is just the intensity of use that sets them apart. their responses quite diverse from one another. some of them also give us the comparison in the usage of e-wallet and cash. they state that they often use the e-wallet when certain discount events are given by the platform. meanwhile others point out they often use e-wallet for online transportation through the application. this result is supported by agung (2020) that, on average, respondents use e-wallet weekly or 1-2 times per week. interviewer: how often do you use e-wallet in your transaction for the last 7 months? informant: i often use e-wallet due to a lot of transaction i have done, perhaps it takes 50% cash and 50% e-wallet (interview 18, usamah) informant: i often use e-wallet, perhaps i use shopeepay twice a week (interview 20, dinda) informant: perhaps, once in a month i use e-wallet (interview 8, nisa) informant: i use about twice in a week (interview 7, namira) responding to the third question (qr3), our informants have enthusiastically pointed out the reasons they used e-wallet as their payment method preference. it is explained that there is more than one influential factor to use e-wallet. few of them states that it would be more uncomplicated. besides, the interrelated application with the e-wallet also makes them prefer to pay the bill using it. the example of our interview is provided in the excerpt: 61does discount matter in indonesia.... (arum prasasti, et al.) interviewer: what makes you choose e-wallet as your payment preference? informant: because they (the platform) give us the ease of use, and also the security system. anyway, the discount given by the application also becomes my reason to use the e-wallet. (interview 18, usamah) informant: cash payment method requires me to go out, while shopeepay only need to be reloaded. (interview20, dinda) informant: it’s interrelated with the application, so it is easier to be used. (interview 3, ifa) informant: because to me, cash is only for paying the unexpected needs. as long as we can top up the balance in our e-wallet. i will use the e-wallet. (interview 1, rani) for qr4, different kinds of response is received. some of them either use only one product of e-wallet or use more than one kind of e-wallet. from 22 respondents, it is found that 17 respondents use ovo, 12 respondents choose shopeepay, 9 respondents use gopay, 5 respondents have linkaja, and 4 informants choose dana (see figure 1). the result demonstrates that ovo is the most used e-wallet amongst them. from the coding reference in nvivo software, 14 of 22 respondents are using ovo. they use either ovo alone or altogether with other e-wallet services. the respondents choose ovo since it hands out discount offers, especially for new users. in addition, ovo provides the complete features, security system, and ease of use for their application. different reason comes from shopeepay user as it is the second most used e-wallet. they use shopeepay to get the extra cashback and free shipping discounts. all ovo users have agreed they will stay with ovo because it maintains giving a lot of benefits even after discount offers are reduced or eliminated. on the other hand, shopeepay users state that they will leave shopeepay and go back to using cash when shopeepay no longer offers cashback and discount purchases. it shows that discounts are not the only significant factor that influences customer loyalty to use e-wallet in making transactions. the data shows that ovo is the most used e-wallet. the familiarity of the platform and features of ovo have strengthened respondents’ loyalty towards ovo as their favourite e-wallet. therefore, it is considered that ease of use is one of the reasons people choose e-wallet (dennehy and sammon, 2015). in this question, the informants actively give their voice and their opinion about e-wallets reflected at the excerpt of interview: interviewer: which one of these products which you use the most? (ovo, gopay, dana, linkaja, shopeepay) informant: i use shopeepay and ovo, but shopeepay that i use the most (inteview 9, indah) informant: mostly i use ovo (interview 4, lurus) informant: i use ovo for daily needs (interview 19, dewa) figure 1 summary of the ovo coding reference source: data analysis, 2020 regarding qr5, the respondents state that discount is the feature which influence them in choosing the e-wallet product. here is the excerpt example: interviewer: what factors influence you the most for using a specific e-wallet product? is it discount? informant: ovo makes it easy for me to connect with certain merchant products (interview 1, rani) informant: i use e-wallet due to the discount that i got (interview 8, nisa) informant: i got the best security system, lots of discount and also cashback (interview 13, lina) however, the research finds out that discount is not the only factor that encourage customers to choose e-wallet. the other features includes convenience, interesting user interface design, and the ease of making payment in all places. in addition, most customers use the e-wallet for various needs. this proves that lots of factors can motivate them to consider reasons needed to choose an e wallet. interestingly, when the excerpts are analysed using nvivo, the coding reference shows that 14 respondents are influenced by discount when 62 the winners, vol. 22 no. 1 march 2021, 57-65 using an e-wallet product. this result corroborates with the current phenomenon of e-wallet race in indonesia, as demonstrated in figure 2. figure 2 discount and cashback coding reference source: data analysis, 2020 the sixth question (qr6) is the most confusing part for them to answer. it takes time for them to find out the correct answer. this last question requires a consideration whether they will be loyal to the current e-wallet when there are no more discount. some respondents state that they will stay loyal with their current e-wallet if they have found it comfortable. nevertheless, a few people point out that they will not be using the e-wallet if the discount or cashback are no longer available. interviewer: if there will be no more discount offered, are you going to switch to another e-wallet? informant: when i got no discount anymore, i will be still using this e-wallet. because the aim of using this is, i got the benefit and comfort (interview 13, lina) informant: if there is a better feature (discount), why don’t we choose that one? (interview 14, agitha) based on the interview, it is found that the informants frequently use e-wallet for a specific reason such as online transportation. the majority of them mostly use electronic wallet as an online payment method. however, some of them still use cash for daily payment. it is found that the use of e-wallet has different intensity depending on the needs of each respondents. according to the answer, ovo is considered the most popular e-wallet among the other products. this result is in line with the latest research report in asia pacific e-commerce and payment guide in 2020 mentioning that ovo is the most used e-wallet for online and offline transaction (“asia pacific e-commerce”, 2020). research has recorded that the transaction in ovo is already above 1 billion rupiahs. the ease of use, the abundance of benefits, and the interrelating of the application (e.g. ovo-grab) are the reasons why most of the respondents choose ovo. moreover, the research finds that discount is the most important feature that e-wallet should have. the finding shows that the respondents will use e-wallet which gives a lot of discount and cashback. respondents agrees discount is not everything as they could still get benefits although discount is not available. these results reflect those of ipsos customer experience research which finds that 68% of ipsos respondents agrees that convenience is the main reason to keep using e-wallets over cash, while promotion is the second reason, at 23% (agung, 2020). e-wallet users have become accustomed to cashless payment as it begins to form part of lifestyle. in addition, promotions does not affect their decisions as much of using e-wallet (agung, 2020). figure 3 illustrates the interview results in hierarchy chart on when they appear the most from the informant response. figure 3 hierarchy chart classification source: data analysis, 2020 figure 3 provides information on discount and cashback as the most discussed factors by our informants, followed by ovo as the most used e-wallet, and finally usage intensity of their e-wallet choices. iv. conclusions the development of e-wallets in 2020 is flourishing. gen zs becomes the majority of e-wallet users, so the research offers insight into gen z's interest in using e-wallet through in-depth interviews with 22 respondents from faculty of economics, state university of malang, indonesia. the result does not adequately represent gen z in indonesia, yet only in a small part of the country. the research finds that all respondents have known and used e-wallet for offline 63does discount matter in indonesia.... (arum prasasti, et al.) and online transaction. most of them are attracted to use e-wallets due to the discount factor. there are several other reasons for choosing e-wallet such as interrelated application with the e-wallet, applications’ ease of use, and the increase of cashless society. the research also shows that ovo and gopay become the most popular applications despite the expired discounts. thus, the research results indicate that discounts are the prevalent factor in choosing e-wallet amongst gen z, which can contribute to future research agenda towards gen z’s e-wallet usage, especially for a literature review in consumer behaviour and preference. however, major limitation lies on our sample size. the data are collected from 22 students from faculty of economics in the state university of malang, indonesia. nevertheless, the research provides an insightful analysis for a reference to fellow researchers, academicians, as well as digital payments industry. the research can also be a basis for further research in digital payments, especially amongst gen z in indonesia or other part of the world. in future studies, it is recommended to expand the studies into different cultures and geographies. on a side note, the research is carried out during covid-19 pandemic, in which plenty of people avoid direct contact with things such as paper money, thus e-wallet is preferred for this reason. for future studies, it will be useful to achieve more structured and comprehensive results by conducting research during a different time or expanding the research sample. therefore the findings of future research might not be similar with the ones in this unprecedented time. references agung, b. 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(2011). the effects of personality traits on user acceptance of mobile commerce. international journal of human-computer interaction, 27(6), 545-561. https://doi.org/10.1080/10447318.2011.55 5298. firms` participation in tax …… (gatot soepriyanto, et al.) 85 firms` participation in tax amnesty program engaged in financial reporting manipulation: an empirical evidence from listed companies in indonesia gatot soepriyanto1; yanto indra2; olivia the3; arfian zudana4 1,2,3accounting and finance department, faculty of economics & communication, bina nusantara university jl. k. h. syahdan no. 9, palmerah, jakarta 11480, indonesia 4victoria university of wellington kelburn, wellington 6012, new zealand 1gsoepriyanto@binus.edu; 2yanto.indra@binus.ac.id; 3olivia.the@binus.ac.id; 4zudana.zudana@gmail.com abstract the research investigated the relation between firms participated in tax amnesty programs and their tendency to manipulate financial statements. the research explored some unique research settings during indonesia’s tax amnesty period in 2016-2017. to examine the association, the researchers employed beneish’s m-score model to categorize the firm’s tendency to manipulate its financial statements. as the test variable, it classified the firm’s participation in the tax amnesty program with a dummy variable, 1 if the firm participated, and 0 otherwise. to control the variations in financial statements manipulation, it also included firm size, leverage, and profitability in our empirical model. based on the sample of 796 firm-year observations in the indonesian stock exchange (idx) from the 2012-2017 period, it is found some evidence that firms participate in tax amnesty programs do not engage in financial statements manipulation. further analysis of the corporate tax avoidance measures shows that those firms do not engage in tax avoidance activities either. the results suggest that firms participate in the tax amnesty programs are not necessary ‘bad firms’, and they just participate as a ‘symbolic’ gesture to get some indirect benefits of the program. keywords: tax amnesty, corporate tax aggressiveness, financial reporting manipulation introduction tax is one of the largest sources of revenue for the country with corporate income tax as the largest contributor. to achieve its tax revenue target, the indonesian government has attempted various efforts such as tax incentives for asset revaluation, improving tax administration, access to bank data, and electronic tax payment and submission. unfortunately, despite the government’s best effort to optimize tax revenue, some challenging issues persist. one of the challenges is the different interests between the government and the corporation. while tax is a source of revenue for government; for business, tax is considered a burden that will reduce the net income. such a different perspective leads to non-compliance with taxpayers through corporate tax avoidance and aggressiveness. in indonesia, the issue of corporate tax avoidance and aggressiveness has been around for many years. recently, google, facebook, and twitter have been fined by the indonesia government because of their illegal tax avoidance strategies. google, for example, is suspected of avoiding tax payment in indonesia. this is because google considers its legal entity as a non-permanent business entity in indonesia, which allows them not paying any taxes in indonesia. therefore, in 2016, the indonesian government forced google to pay a tax penalty amounting to 5 trillion rupiah (setyo, 2016). mailto:gsoepriyanto@binus.edu mailto:yanto.indra@binus.ac.id mailto:olivia.the@binus.ac.id mailto:zudana.zudana@gmail.com 86 journal the winners, vol. 20 no. 2, september 2019: 85-93 indeed, the corporate tax avoidance and aggressiveness issues stem from various factors, including the difficulty of the tax authority accessing data and information from the banking sector and the financial sector due to the existence of the law on bank secrecy. issues surrounding taxation also cause many indonesian assets (from entrepreneurs or public officials) to be rushed out to other countries that have a lower tax rate or even a tax-free country. the favorite tax haven countries for the indonesian are the british virgin islands, cook island, delaware (texas), and singapore, as reported in the panama papers (dalby & wilson-chapman, 2019). these assets are certainly not reported in the annual tax return (spt). the government, especially the directorate general of taxes, must respond to this by making a breakthrough or policy in order to bring back the shifted assets as reported in the panama papers (dalby & wilson-chapman, 2019). these assets, therefore, can be used as additional capital to finance indonesia’s development. one of the ways is by issuing a tax amnesty policy. tax amnesty aims to increase state revenues. it also aims to improve taxpayer compliance (muttaqin, 2013). mukarromah (2016) has reviewed that the tax amnesty policy is the beginning of tax reform in indonesia. in general, the definition of tax amnesty is a tax pardon given by the government for individuals or entities indicated to carry out tax avoidance by saving their money abroad or not reported the actual asset in their annual tax return. by reporting the assets and paying fines at low rates, the government increases the willingness of those individuals or entities to bring back their assets to indonesia, and at the same time, to facilitate the government, in this case, the directorate general of taxes to extend the existing taxpayers database. therefore, in 2016, the directorate general of taxes and the ministry of finance has implemented a tax amnesty program. based on law 11 of 2016 concerning tax amnesty, it states that for companies or communities that are not reporting the actual assets, the government grants pardon to taxpayers to report assets that have not been reported. besides that, the government gives benefit such as the elimination of taxes that should be owed, the elimination of tax administration sanctions, and the elimination of taxation criminal sanctions on assets acquired, and previously not reported in the annual tax return (spt), by paying off all tax arrears owned and fees. in other words, it can be said that tax amnesty is a way for taxpayers who have not to comply with reporting actual assets. from the result of the tax amnesty program, which began from 2016 until 2017, the total taxpayers who participated in this program have reached 965.000 people and 191.000 corporate taxpayers (mustami & caturini, 2017). this indicates that many corporates are actually non-tax compliance taxpayers. looking at the results of the tax amnesty period during 2016-2017, the researchers have a unique opportunity to observe and categorize the company’s compliance with the tax report. this is because the government provides a window of opportunity for firms or individuals to report their unreported assets in returns of a certain percentage of fine and penalties. as such, it is plausible that it can be categorized companies participated in tax amnesty as taxpayers who engage in aggressive tax avoidance strategies by manipulating the records of their assets. in addition, it is very likely that the firms participated in tax amnesty also engages in financial statement manipulation since they need to conceal the fled assets to avoid government scrutiny. the relationship between corporate tax aggressiveness and financial reporting aggressiveness has been widely discussed and researched lately. corporate tax aggressiveness often collides with pressure to increase profits. the decision to conduct corporate tax aggressiveness or the aggressiveness of financial reporting is faced with the problem of trade-offs between the two. there are several previous researches, which show the trade-off between accounting and tax financial reporting interests. therefore, it is very important to examine whether the corporate tax aggressiveness and the aggressiveness of financial reporting can be done at the same time. there are still various arguments and conflicting evidence in previous researches. the relationship between corporate tax aggressiveness and financial reporting has been investigated previously by frank, lynch, and rego (2009) in the united states (us). the research is conducted using the companies in graham and tucker samples that are firms` participation in tax …… (gatot soepriyanto, et al.) 87 allegedly involved in tax sheltering cases for the period 1991-2005. frank, lynch, and rego (2009) have found that there is a positive relationship between corporate tax aggressiveness and financial reporting aggressiveness. this indicates that there is no book-tax trade-off which is allegedly caused by the increasing number of tax loopholes that companies can use due to differences in accounting principles and taxation regulations. ko, choi, and kim (2012) have examined the behavior of companies in south korea that are conducting aggressive financial reporting and aggressive tax reporting simultaneously. the results show that the aggressiveness of financial reporting is negatively related to the aggressiveness of tax reporting. this is because the companies in south korea have unique characteristics. besides that, aggressive financial reporting is difficult to unite with the aggressive reporting of taxes because, in south korea, the tax rate is lower. in addition, the rules between accounting and taxation show a lot of conformity and the high rules of law adopted. lennox, lisowsky, and pittmen (2013) have examined the relationship between aggressive tax planning and the frequency of suspected accounting fraud. they have found that tax aggressive companies tend not to commit to accounting fraud. in this case, their result does not support the results of frank, lynch, and rego (2009). likewise, onuma (2013) has found a negative reciprocal relationship between corporate tax aggressiveness and financial reporting aggressiveness in japan. it suggests that both decisions are mutually exclusive, so they cannot be done at the same time. it shows that the decision to do corporate tax aggressiveness will sacrifice the aggressive actions on financial reporting and vice versa. similar research is also conducted in indonesia, where kamila (2014) have found a positive reciprocal relationship between the two decisions, which means there is no trade-off between corporate tax aggressiveness and the aggressiveness of financial reporting. companies that have been proven to do corporate tax aggressiveness are also alleged to aggressive financial reporting, and vice versa. research about tax amnesty programs associated with financial reporting irregularities is conducted by buckwalter et al. (2014). this research has found that firms headquartered in states offering state tax amnesties that are associated with a significantly higher likelihood of engaging in a financial reporting irregularity during the period of the amnesty. however, financial reporting irregularities during the year of the amnesty are only captured for firms headquartered in states offering repeat, but not initial, tax amnesty programs. considering the previous discussion, the investigation on the association between firms participated in tax amnesty, and financial statement manipulation is warranted. this research refers to the research of frank, lynch, and rego (2009); lennox, lisowsky, and pittmen (2013); and buckwalter et al. (2014). the difference between this research and prior research is the inclusion of tax amnesty participation and beneish m-score to detect financial statement irregularities. this research will employ populations from companies listed on the indonesia stock exchange from the 2012 to 2017 period. the tax amnesty program offered by the government has encouraged companies to report assets that previously never been reported. in other words, reporting actual assets that they have. in this case, it can be said that the companies participating in the tax amnesty program tend to manipulate previous annual tax reports. in the spirit to conceal that manipulation, companies may also engage in the aggressive financial reports in order to avoid government scrutiny. the tax amnesty program provided by the government in indonesia provides a unique setting to conduct further research. in that case, the researchers examine the relation between firms participate in tax amnesty and the manipulation in the financial statement. to get a neutral research setting, the researchers test the issue in the period before companies join the tax amnesty program (i.e., before 2016 and 2017) to see whether participants of tax amnesty are engaged in aggressive financial reporting. this research setting allows investigating the firm’s behavior on financial reporting manipulations since participants of the tax amnesty program tend to manipulate their financial report in the period before their tax amnesty participation. as such, this 88 journal the winners, vol. 20 no. 2, september 2019: 85-93 research will seek to answer the following research question: “do firms participate in the tax amnesty program also engage in financial statements manipulations?” based on prior literature and the preceding discussion, the researchers formulate the hypothesis for the research (stated in the alternative form): ha = firms that participated in tax amnesty are associated with financial reporting manipulations. methods the data used in this research are companies listed on the indonesia stock exchange (idx) from 2012 to 2017. companies that have been listed on the indonesia stock exchange are considered as ‘go public’ company, which the financial statements can be accessed directly, and the researchers can obtain the required valid information. the number of populations in this research is 600 companies. this research considers all firms in idx based on a certain criterion. the selection criteria for the companies included in the populations are: (1) company must have the necessary data to calculate independent variables and dependent variable, (2) exclusion of banks, multi finance, securities, and insurance companies, (3) company must conduct an ipo at the year 2012 or before, (4) the financial statement must reported in rupiah, (5) companies are never delisted from idx during research period, (6) companies whose financial statements or all data can be accessed or obtained through the website of the indonesia stock exchange. there are 175 companies remaining based on those mentioned specifications. the sample selection process in this research is depicted in table 1. table 1 companies selection and distribution companies selection firms total firms from idx database (2017) 600 less: financial institution firms (86) less: firms that have initial public offering after 2012 (142) less: firms use dollar currency in financial report (131) less: firms that financial report no completed (51) less: firms that have been delisted (15) total selection of firms 175 to test the hypothesis, the researchers estimate the following multivariate regression model: 𝑀𝑠𝑐𝑜𝑟𝑒𝑖𝑡 =∝ +𝛽𝑇𝐴𝑋 + 𝛾1𝑆𝐼𝑍𝐸𝑖𝑡 + 𝛾2𝐿𝐸𝑉𝑖𝑡 + 𝛾3𝑅𝑂𝐴𝑖𝑡 the dependent variable, m score, is calculated using the beneish m-score model, which captures the manipulation of financial reports. based on beneish (1999), the researchers calculate the score using 8 index, such as: days sales in receivables index (dsri), gross margin index (gmi), asset quality index (aqi), sales growth index (sgi), depreciation index (depi), sales and general administration expenses index (sgai), leverage index (lvgi), and total accruals to total assets (tata). then the results of each index will be included in a model (beneish, 1999), as follows: mscore = 4,840 + 0,920dsri + 0,528gmi + 0,0404aqi + 0,892sgi + 0,115depi – 0,172sgai + 4,679tata – 0,327lvgi. companies with higher m-scores have more possibilities to commit financial report manipulations. the test variable, tax, capture firm participation in the tax amnesty program. it will be coded 1 if the firm participated in the tax forgiveness program in 2016-2017, and 0 otherwise. as discussed earlier, the investigation period is on the year before firm participation in tax amnesty with the firms` participation in tax …… (gatot soepriyanto, et al.) 89 consideration of firms that participated in the tax amnesty are also aggressive in their tax avoidance strategies. as such, the dummy tax variable will be used consistently throughout the investigation period. the investigation period is the years before tax amnesty; in this case, the researchers use the most recent years; 2012 to 2015. consistent with prior studies (e.g., frank, lynch, & rego, 2009; lennox, lisowsky, & pittmen, 2013), the researchers also control for firm size (sizelog natural of total assets, capture in period before tax amnesty), leverage (lev-the ratio of the firm’s long-term debt to total assets, captures in period before tax amnesty), and profitability (roathe ratio of net income to total assets, captures in period before tax amnesty). results and discussions table 2 shows the descriptive statistics for 175 sample companies during the sample period. table 2 descriptive statistics n mean sd min q1 median q3 max m score 796 -2,50 1,22 -10,46 -2,96 -2,64 -2,20 30,46 tax 796 0,40 0,49 0,00 0,00 0,00 1,00 1,00 size 796 14,58 1,66 9,93 13,26 14,67 15,87 19,38 lev 796 0,19 0,23 0,00 0,05 0,13 0,24 2,52 roa 796 0,07 0,09 -0,48 0,02 0,05 0,10 2,78 notes: m score = defined as financial reporting manipulation using beneish m score model. tax = defined as tax aggressiveness, code 1 if the company participate in tax amnesty program and 0 if not participate. size = log natural of total assets, lev= the ratio of the firm’s long-term debt to total assets, roa is measured as profitability by divided net income with total asset. it can be seen from table 2 that the average number m score is -2,50 with standard deviation amounting to 1,22 and median -2,64. the tax amnesty measure (tax) has mean value 0,40 or 40% the observation in this research participated in tax amnesty program. firm size (size) has mean value 14,58, while its median value is 14,67. the average leverage (lev) is 0,19 and the median value is 0,13. the mean profitability (roa) is 0,07 or 7%, while the median value is 0,05. table 3 shows the correlation matrix of variables used in this research. table 3 correlation matrix m score tax size lev roa m score 1,000 tax -0,051 1,000 size 0,040 0,068 1,000 lev 0,055 0,083 0,015 1,000 roa -0,062 -0,101 0,136 -0,129 1,000 notes: m score = defined as financial reporting manipulation using beneish m score model. tax = defined as tax aggressiveness, code 1 if the company participate in tax amnesty program and 0 if not participate. size = log natural of total assets, lev= the ratio of the firm’s long-term debt to total assets, roa is measured as profitability by divided net income with total asset. table 4 reports the results from the estimation of the empirical model. it presents the results from a model that uses firms’ participation in tax amnesty programs for the test variables and financial report manipulation as the dependent variable. column m-score presents the regression results using 90 journal the winners, vol. 20 no. 2, september 2019: 85-93 firms participate in tax amnesty programs as the test variable. it shows that the coefficient on tax is negative (-0,174) and significant at the 10 percent level (t-statistic = 0,052). to complement the results, sensitivity analysis is also performed. the researchers use the difference of actual value in m-score with the m-score’s threshold value for the firm’s manipulation (-2,22) as the dependent variable. the results (unreported) are qualitatively similar. the results presented in table 4 show that the companies participating in tax amnesty that can be considered aggressive towards taxation, have a negative significant relation with the manipulation of financial statements. as such, the alternative hypothesis (ha) is accepted. it can also be conceived that the companies participating in the tax amnesty are not manipulators of financial statement. the result, therefore, supports the previous researches, which finds that aggressive tax activities are negatively related to the aggressive financial statement; for example, onuma (2013). table 4 linear regressions of firms participate in tax amnesty program on financial report manipulation and control variables variable sign m-score standard error tax -0,174 0,089 0,052* size + 0,028 0,028 0,314 lev + 0,072 0,319 0,822 roa + 1,053 0,551 0,056* cons ? -2,392 0,486 0,00 year and industry fixed-effects yes adjusted r2 0,052 prob>f 0,0091 f-statistics 2,08 observation size 796 notes: this table presents regression results of financial report manipulation (beneish m score) on firms participate in tax amnesty program (dummy 1 and 0) and control variables. all variables are defined in appendix a. *, **, and *** indicate statistical significance at the 10%, 5%, and 1% levels, respectively. significance levels are for one-tailed t-tests where a predicted direction is provided, two-tailed otherwise. this result is different from frank, lynch, and rego (2009), where they find a positive relationship between tax aggressiveness and financial statements. frank, lynch, and rego (2009) have stated that companies can do both actions at the same time due to the increasing number of tax gap that can be utilized by companies and differences in accounting principles with tax regulations. this research’s results are also different from lennox, lisowsky, and pittmen (2013), where they find no significant relationship between aggressive tax actions and aggressive financial statements. they argue that government scrutiny may impair the motivation of firms to commits in both aggressive tax activities and financial reports. however, this research’s result is consistent with onuma (2013), who has found that aggressive financial reporting is negatively related to tax aggressiveness. onuma (2013) has argued that the negative relation between aggressive financial reporting and tax activities cannot be done because if companies decide to do so, they need to report low profits, which can be a bad signal for the investors. specific for the control variables, the researchers only find a significant result for profitability as measured by roa. it shows that roa is positively (1,053) and significant at 5% related to m-score. it indicates that profitability has a positive significant effect on aggressive financial statement actions. firms` participation in tax …… (gatot soepriyanto, et al.) 91 the result is similar to frank, lynch, and rego (2009); kamila (2014) that find that profitability has a significant effect on financial report manipulation. this shows that more profitable firms tend to manipulate their financial statements. this might be related to the condition that more profitable firms face greater public expectations regarding their performance. to support our baseline result, the researchers further examine the relation of participation in tax amnesty with aggressive tax activities. in doing so, the researchers test the relation between participation in tax amnesty with three proxies to measure the level of tax aggressiveness: effective tax rate (etr), cash tax rate (ctr), and book tax difference (btd). the test is conducted by comparing the means of etr, ctr, and btd for firms participated in tax amnesty and not participated. table 5 shows the test using etr. table 5 t-test (etr – tax) group obs mean std err sd 0 480 0,218 0,025 0,549 1 316 0,225 0,028 0,510 diff -0,007 0,037 diff = mean (0) –mean (1) t = -0,1639 ho : diff = 0 degrees of freedom = 794 ha; diff < 0 ha: diff! = 0 ha: diff! > 0 pr(t,t) = 0,4349 pr([t]) > [t] = 0,8698 pr(t >t] = 0,5651 table 5 shows that there is no significant difference in etr between firms participating in tax amnesty and their counterparts. table 6 shows the test using ctr. it shows that the mean of ctr for tax amnesty participating firms is significantly different at 10% from their counterparts. it shows that the ctr for participating firms is higher compared to non-participating firms. it indicates that participating firms are less likely to engage in tax aggressive activities. table 6 t-test (ctr – tax) group obs mean std err sd 0 480 0,322 0,045 0,995 1 316 0,466 0,076 1,366 diff -0,144 0,083 diff = mean (0) –mean (1) t = -1,720 ho : diff = 0 degrees of freedom = 794 ha; diff < 0 ha: diff! = 0 ha: diff! > 0 pr(t,t) = 0,042 pr([t]) > [t] = 0,085 pr(t >t] = 0,957 the result using btd measure is presented in table 7. it shows that the participating firms have higher btd, significant at 5%, compared to non-participating firms. table 7 shows that the btd for participating firms is 0,036, while it is 0,023 for non-participating firms. this suggests that for btd, participating firms exhibit greater tax avoidance levels compared to non-participating firms. the results generated by investigating the relation between tax amnesty and tax avoidance show that firms participating in tax amnesty are not aggressive on their tax activities, except for btd measure. overall, 92 journal the winners, vol. 20 no. 2, september 2019: 85-93 the researchers find an indication that companies participating in the tax amnesty program are not engaged in aggressive tax activities. furthermore, the researchers also find that participation in the tax amnesty program is related to lower financial statements manipulation. table 7: t-test (btd – tax) group obs mean std err sd 0 480 0,023 0,003 0,077 1 316 0,036 0,004 0,077 diff -0,013 0,005 diff = mean (0) –mean (1) t = -2,325 ho : diff = 0 degrees of freedom = 794 ha; diff < 0 ha: diff! = 0 ha: diff! > 0 pr(t,t) = 0,0102 pr([t]) > [t] = 0,0203 pr(t >t] = 0,9898 conclusions in this research, the researchers investigate the association between participation in the tax amnesty program and financial report manipulation. it finds that participation in the tax amnesty program is related to lower financial statements manipulation. this, therefore, provides supporting arguments to the previous researches. further, the additional analysis finds that that firms participating in tax amnesty are not engaging in tax aggressive strategies as reflected by their etr and btd levels. the researchers predict that firms participate in tax amnesty program is merely to obtain the benefits from the program such as (based on law no. 11 of 2016): (a) elimination of taxes that should be owed (pph and vat), elimination administrative sanctions, and criminal sanctions; (b) elimination from administrative sanctions for tax assessments that have been issued, (c) no tax audit, examination of preliminary evidence, and investigation into taxation crime; (d) termination of tax audits, examination of preliminary evidence and investigation of criminal acts in taxation. besides that, the researchers also examine the relationship between tax amnesty and financial reports aggressiveness using only beneish m-score. future research may fill the gap by examining the issue using other financial manipulation measures. further, they can also examine the issue in a more specific area, such as manipulation of the financial report in the tax area, for example, using restatement of financial statements in tax account. references 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(1999). the detection of earnings manipulation. financial analysts journal, 55(5), 2436. buckwalter, n. d., sharp, n. y., wilde, j. h., wood, d. a. (2014). are state tax amnesty programs associated with financial reporting irregularities? public finance review, 42(6), 774-799. https://doi.org/10.1177/1091142113499397. https://doi.org/10.1177%2f1091142113499397 firms` participation in tax …… (gatot soepriyanto, et al.) 93 dalby, d., & wilson-chapman, a. (2019). panama papers helps recover more than $1,2 billion around the world. retrieved from https://www.icij.org/investigations/panama-papers/panama-papershelps-recover-more-than-1-2-billion-around-the-world/. frank, m. m., lynch, l. j., & rego, s. o. (2009). tax reporting aggressiveness and its relation to aggressive financial reporting. the accounting review, 84(2), 467496. kamila, p. a. 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(2016). undang-undang republik indonesia nomor 11 tahun 2016 tentang pengampunan pajak (lembaran negara republik indonesia tahun 2016 nomor 131, tambahan lembaran negara republik indonesia nomor 5899). jakarta: sekretariat negara. setyo, a. (2016). google nunggak pajak lebih dari rp 5 triliun di indonesia. retrieved on november 11th, 2018 from http://www.liputan6.com. https://www.icij.org/investigations/panama-papers/panama-papers-helps-recover-more-than-1-2-billion-around-the-world/ https://www.icij.org/investigations/panama-papers/panama-papers-helps-recover-more-than-1-2-billion-around-the-world/ https://www.researchgate.net/journal/1556-5068_ssrn_electronic_journal http://dx.doi.org/10.2139/ssrn.2231803 http://www.liputan6.com/ *corresponding author p-issn: 1412-1212 e-issn: 2541-2388 35 the winners, 23(1), march 2022, 35-41 doi: 10.21512/tw.v23i1.6932 the effect of opportunity recognition and organization capability on sme performance in indonesia moderated by business model innovation hendry hartono1*; reeya ardini2 1management department, binus business school undergraduate program, bina nusantara university jl. kebon jeruk raya no. 27, kebon jeruk, jakarta 11530, indonesia 2victorian indonesian language teachers association p.o. box 7100, richmond 3121, richmond, melbourne, victoria, australia 1hhartono@binus.edu; 2reeya.ardini@gmail.com received: 11th january 2021/ revised: 01st june 2021/ accepted: 07th june 2021 how to cite: hartono, h. & ardini, r. (2022). the effect of opportunity recognition and organization capability on sme performance in indonesia moderated by business model innovation. the winners, 23(1), 35-41. https://doi.org/10.21512/tw.v23i1.6932 abstract the research aimed to analyze the effect of opportunity recognition and organisation capability on sme's performance which is moderated by business model innovation. it also aimed to find out and analyse the variables that most significantly affect sme's performance in jakarta. data collection were done by collectting questionnaires with 100 respondents who had business. in analysing data, the research used associative methods and moderated regression analysis. the results indicate that opportunity recognition and organisation capability have a significant effect on sme performance, and business model innovation as moderator reduces the influence of opportunity recognition on sme performance but increase the influence of organisation capability on sme performance. opportunity recognition and organisation capability have a relationship with sme performance, as evidenced by moderated regression analysis (β) of 1,589 and 0,479. after the business model innovation moderates the two variables, the opportunity recognition relationship to sme performance has decreased to 0,657, and organisational capability to sme performance has increased to 0,724. opportunity recognition, organisation capability, and business model innovation also have a simultaneous influence on sme performance. keywords: opportunity recognition, organisation capability, business model, small medium enterprises i. introduction small and medium enterprises (smes) is one of the business sectors that can develop to be consistent in the national economy. smes are an excellent tool for productive employment creation. smes are labour-intensive businesses as they do not require specific requirements such as level of education, expertise (skills) work. they are relatively little business capital, and technology used is relatively more straightforward. msmes still play an essential role in improving the indonesian economy, in terms of the number of businesses, job creation, and national economic growth as measured by gross domestic product (gdp). in indonesia, smes have developed rapidly in recent years. in 2014 the number of msmes in indonesia reached 1,56% of the population in indonesia. however, in 2018 smes has been growth reached 3,1% of indonesia's population. the government itself targets that in 2018 the number of smes in indonesia can reach 4% of the total population in indonesia. in 2019, it will reach 5% of the population in indonesia. although smes are also increasingly developing since they use an online platform for marketing their products. according to the ministry of cooperatives and small and medium enterprises, there are 3,79 million smes that have used the online platform. this number is around 8% of the total smes in indonesia, amounting to 59,2 million. the government is also targeting 8 million smes to go online in 2019. dki jakarta is a large city with the highest population in indonesia. with a population of 12.000.000, the population spread across five cities of administration and one district with a distribution of 9,2% in the city of administration in central jakarta, 18,6% (eighteen points six per cent) in the city of administration in north jakarta, 24,1% in the city of east jakarta administration, 22,6% in the city of 36 the winners, vol. 23 no. 1 march 2022, 35-41 south jakarta administration, 25,3% in the city of west jakarta administration, 0,2% in the thousand islands administrative district. dki jakarta is also has a relatively large number of smes. according to the results of the economic census listing from bps in 2016, there were 1,16 million smes in jakarta, and the number of smes in jakarta was 93,46% of the total business population or companies operating in jakarta. smes that are categorised as g or wholesale and retail, car reparations and car maintenance are the highest, reaching 422.735 businesses or 36,6% of the total msmes. moreover, the provision of accommodation and food and beverage supply reaches 339.895 businesses or 29,4% of the total sme. as a densely populated area, dki jakarta’s distinct needs of the community will continue to grow every day, so it takes a variety of ways to survive. either by working or doing various activities that can make money. however, it is undeniable that the unemployment problem is a serious matter. therefore, many efforts are needed, one of which is by developing smes that are useful for creating jobs to meet the needs of the community. the current definition of opportunity is still highly fragmented in extant research (guo et al., 2017). following research that links opportunities for developing new forms of business, the research defines opportunities as ideas that have the potential to be developed into a form of business (vogel, 2017), three dominant views exist to explain the nature of opportunities, there are recognised, discovered, or created (chang & chen, 2020). among these three views, the view of finding opportunity recognition is the most relevant for the research. thus, based on the view of the findings, the research explains the recognition of opportunities as individual efforts in finding and identifying opportunities (gielnik et al., 2012). the recognition of opportunities has debated as a pivotal contributor to competitive advantage and superior performance (rua et al., 2018). because of their small responsibilities, smes depend heavily on opportunities for survival and success (kasiri et al., 2017). for example, previous research has shown that smes cannot survive and succeed if they do not proactively seek and recognise opportunities (roundy et al., 2018). thus, the introduction of opportunities has a massive impact on sme performance (kokkonen & ojanen, 2018). nonetheless, smes often experience obstacles in achieving performance effects from the introduction of opportunities. some experts argue that the limited supply of resources from smes limits their ability to match the value of recognised opportunities and inhibits the benefits of recognition of opportunities. others argue that smes rely heavily on acquiring external resources to capture recognised opportunities, but they are often at a disadvantage in competing for external resources. as such, they may fail to exploit the opportunities and benefits recognised from the recognition of opportunities. although these scholars have different explanations, they agree that the introduction of opportunities does not guarantee superior performance. conversely, smes must take on activities to translate recognised opportunities into superior performance (teece, peteraf, & leih, 2016). smes, in term of getting superior performance must-have the capability that all activity within an organization can create superior performance. organisational capability is a collection of resources that display tasks or activities integrally. usually, the organisational capability is determined based on two approaches: (1) functional approach and (2) value chain approach. both approaches are widely used by organisations to shape organisational capabilities. however, it is essential to note that capabilities can only form if there is cooperation between various resources within the organisation. in complex organisations, capabilities affect the organisational hierarchy structure. the higher the capability level, the more integration between capabilities will be. organisational capability is a resource that is relatively quite challenging to transfer due to resources that are group rather than an individual (bismo, halim, & erwinta, 2021). organisational capability as an organisational capacity to mobilise resources uses organisational processes to influence desired goals. this definition has two main features. first, the capability is an attribute of an organisation that allows it to exploit existing resources in implementing the strategy. second, the primary purpose of capabilities is to increase the productivity of other resources that the organisation has. the resources intended here are financial, physical, individual, and organisational capital attributes that are the organisation's authorised capital. organisational capability emphasises the critical role of strategic management in inappropriate adaptation, integration, and internal reconfiguration and organisational skills, resources and functional competencies so that there is conformity with environmental changes (walter, 2020). the organization needs to possess the capability because the ability has identified as one of the primary sources for competitive generation and development. uncertainty and environmental changes are the reason the capability must be owned by the organization to develop essential prerequisites quickly to retain a competitive advantage. business model innovation (bmi) was first introduced in 1960 by jones in an academic journal. it regains popularity in the year 2000 onwards because of the business model and how changes in the business environment discussed in the internet context (anand & mantrala, 2019). business model innovation is defined as how companies interact with business partners and consumers. it can also be defined as an innovative way to create and shape value or value proportion. business model innovation is the implementation of a new business model for the company itself. thus, it can be concluded that business model innovation is a new way to improve and increase value proportion through many aspects, 37the effect of opportunity recognition.... (hendry hartono; reeya ardini) namely with partners and consumers. business model innovation introduces new steps for doing business (carayannis, sindakis, & walter, 2015). creating a business model can disrupt dynamic markets by challenging developing markets (pucci, nosi, & zanni, 2017). business innovation is very dependent on technology or the product itself to distinguish the value of the company. these aspects are elementary to copy and are promptly defeated. it concluded that business model innovation is very good for penetrating new markets and to defeat competitors because in an innovation business is very important. incorporating a business model innovation into a business model is very important, but innovation itself is straightforward for competitors to emulate (anand & mantrala, 2019). smes in indonesia, especially in dki jakarta, need a specific solution that makes sure that they can survive in the future. survival can be determined with a performance perspective and could determine the ability to make money, besides the impact of successful sme in creating jobs and servicing the community. it is not enough to measure sme performance only from a financial perspective because the financial perspective has weaknesses, namely historical so that it is only able to provide measurements of management performance and cannot improve the company towards a better direction. the financial perspective measurement from oriented to measure operation management at smes, and the focus is less directed towards management strategy. in the journal "entrepreneurs use a balanced scorecard to translate strategy into performance measures" states that we can use the balanced score card to measure the performance of smes (chong et al., 2019; malagueño, lopez-valeiras, & gomezconde, 2018). balanced score card can be used as a complete measurement of performance and does not measure only from a financial perspective, but from other perspectives as well as customers, internal business processes, learning and growth. if measured from these four perspectives, the company will move towards a better direction. furthermore, the balanced scorecard also functions as a critical performance indicator, which is a measurement of company performance on critical success factors. the balanced scorecard can help owners of smes to focus more on critical success factors and focus on other nonfinancial areas. the balanced scorecard is a method of evaluating company performance by considering four perspectives to measure company performance, namely: (1) financial perspective, (2) customer perspective, (3) internal business process perspective, and (4) learning and growth perspective. ii. methods the research applies a quantitative research in which the deductive process that exposes from the general explains the thing. the aim of the research is to determine the cause-and-effect relationship among two or more variables and the level of dependence between these variables. time horizon used in the research is one shot cross-sectional (sekaran & bougie, 2013), where the data take is one time and once a time. variables are divided into two, namely the independent variable or independent variable (x) and the dependent variable or dependent variable (y). in the research, the independent variables are opportunity recognition (x1) and organizational capability (x2), and the dependent variable is sme performance (y), while the moderating variable is business model innovation. the population of the research is all smes in the jakarta area, and the total population is unknown with certainty; the recommended number of samples with such conditions is to use a convenience sampling technique. the ease of sampling technique is a sampling technique where researchers select by filtering out existing questionnaires using the estimated average value. the calculation of the number of samples for the research is: 96,04, with the value of α = 0,05, then the value of z 0,05 = 1,96. the research obtains a minimum number of random samples of 96 respondents with a confidence level of 95%. in conducting the research, researchers used data from 100 respondents, adding the number of respondents intended to get more generalized research results. according to previous studies about sme performance, the research requires knowing about how business model innovation moderates the relationship between opportunity recognition, organizational capability, and sme performance are presented in figure 1. figure 1 research model from the research model presented in figure 1, two hypotheses is formulated and tested: h1: business model innovation moderates the relationship between opportunity recognition and smes performance. h2: business model innovation moderates the relationship between organization capability and smes performance. 38 the winners, vol. 23 no. 1 march 2022, 35-41 iii. results and discussions test results indicate that all the 30 indicators are valid (above rtable 0,16) and reliable (above 0,6 of cronbach’s alpha), thus can proceed to the next step of the analysis. table 1 reliability test variable cronbach’s alpha remark opportunity recognition 0,805 reliable organization capability 0,763 reliable business model innovation 0,777 reliable sme performance 0,698 reliable majority of 100 respondents in the research were male (52%), while 57% of respondents have been in business for more than ten years. there are eight creative business sectors, 41% in the culinary business sector and 26% in the craft business sector. 43% of respondents do not have a legal business entity, and 57% already have legal business entities. 57 % of business has workers between 5-19 persons. opportunity recognition (x1) has two dimensions, namely opportunity identification, and opportunity discovery. these two dimensions are divided into four indicators. table 2 describes the indicators for opportunity recognition (x1): table 2 descriptive analysis of opportunity recognition dimension indicator mean mean per dimension opportunity identification adaptable to customer preferences 3,80 4,00 proactive approach 4,20 opportunity discovery interaction 4,01 4,09 personalized idea 4,17 average value of mean opportunity recognition 4,05 the average value of mean opportunity recognition (table 2) is 4,05, which means the results of respondents' responses to statements about opportunity recognition are agreed. the result shows that the respondents of small and medium enterprises (smes) understand the importance of opportunities in business. with the highest mean (mean) on a proactive approach with a value of 4,20, which is means most respondents agree that they find ideas for their business based on the experience they have. nevertheless, the lowest mean (mean) in adaptable to customer preferences is 3,80, which is means that most respondents entirely agree to adapt their products to the wishes of the community. therefore, respondents considered that they obtain their ideas from their experience for business. table 3 descriptive analysis of organisation capability dimension indicator mean mean per dimension knowledge competitive capability 4,17 4,13 cooperation alliance 4,09 skill skill 4,17 4,17 experience 4,17 valuable physical assets 4,09 asset human resource assets 3,09 3,77 organizational assets 4,14 average value of mean variable organization capability 4,02 as seen in table 3, the average value of mean organization capability is 4,02, which means the results of respondents' responses to the statement about the overall organization capability are agreed. these show that the owners of small and medium enterprises (smes) understand the importance of capability in business. with the highest mean at competitive capacity, skill, and experience with a value of 4,17, most respondents agree that they can compete, and have adequate skill and the expertise to develop business. nevertheless, the lowest mean in human resource assets with a value of 3,09 means that most respondents entirely agree they have competent human resources. it can be concluded that respondents are confident that they have excellent skills, expertise to develop businesses and compete. however, skillful workers are required. the average value of mean business model innovation (table 4) is 4,01, which means the results of participants’ responses to statements about the overall business model innovation are agreed. the owners of small and medium enterprises (smes) understand the importance of innovation in business. with the highest mean in target customer and revenue mechanism, with a value of 4,17 which means most respondents agree that they have chosen the right customers and they know all the income in their business. nonetheless, the lowest mean is that core competence is 3,19, which means that most respondents agree that they provide the services that customers need. they run businesses providing advantages that customers choose over 39the effect of opportunity recognition.... (hendry hartono; reeya ardini) competitors. it is concluded that respondents believe that they have chosen the right customer, and they are aware of their business income. however, they lack of knowledge on how to gain an advantage among competitors. table 4 descriptive analysis of business model innovation dimension indicator mean mean per dimension value offering innovation target customer 4,17 4,08 product offering 4,09 positioning 3,99 value architecture innovation internal value creation 4,09 3,83 core competence 3,19 external value creation 4,02 distribution 4,01 revenue model innovation revenue mechanism 4,17 4,13 cost mechanism 4,09 average value of mean business model innovation 4,01 table 5 descriptive analysis of sme performance dimension indicator mean mean per dimension financial perspective growth 4,17 4,13 sustainability 4,09 customer perspective market share 3,99 4,01 customer retention 4,14 customer satisfaction 4,13 customer profitability 3,80 business internal process perspective innovation 4,20 4,14 operation 4,08 learning and growth perspective human capabilities 4,07 4,05 information system capabilities 4,08 motivation 4,00 average value of mean sme performance 4,08 the average value of mean sme performance (table 5) is 4,08, which means the results of respondents' responses to statements about sme performance overall tend to agree. these show that the owners of smes understand the importance of performance in business. the highest mean is growth, with a value of 4,17 which means most respondents agree that profit growth is the most important thing. nonetheless, the lowest mean is customer profitability with a value of 3,80. most respondents agree that they are trying to dominate the market. it is concluded that respondents think that profit growth is the most important thing. initial testing upon by using spss version 22 to test the hypothesis: h1: business model innovation moderates the relationship between opportunity recognition and smes performance based on figure 2, the opportunity recognition obtains a β value of 1,589 with a p value of 0,000, so opportunity recognition influences the sme performance of 1,589 significantly. opportunity recognition which is moderated by business model innovation has a β value of 0,657 with a p value of 0,000. with an β effect of business model innovation of 0,18 and a p value of 0,000, so opportunity recognition moderated by business model innovation affects sme performance by 0,657 significantly. figure 2 regression result hypothesis 1 the opportunity recognition obtains a β value of 1,589 with a p value of 0,000, so opportunity recognition influences the sme performance of 1,589 significantly. whereas in figure 2, opportunity recognition which is moderated by business model innovation has a β value of 0,657 with a p value of 0,000, an β effect of business model innovation of 0,18, and a p value of 0,000. thus, opportunity recognition moderated by business model innovation affects sme performance by 0,657 significantly. opportunity recognition has a strong influence on sme performance. however, the effect of opportunity recognition has decreased to sme performance when business model innovation is moderate. in other words, business model innovation weakens the influence between opportunity recognition variables on sme performance. the performance decrease is caused by the lacking capability of sme to adapt to customer preferences (table 2). h2: business model innovation moderates the relationship between organization capability and smes performance. 40 the winners, vol. 23 no. 1 march 2022, 35-41 figure 3 regression result hypothesis 2 based on figure 3, the organisation capability gets a β value of 0,479 with a p value of 0,000, so that organisation capability significantly influences sme performance by 0,479. organisation capability moderated by business model innovation obtains a β value of 0,724 with a p-value of 0,000, an β effect of business model innovation of -0,001, and a p value of 0,890. hence organisation capability moderated by business model innovation affects sme performance of 0,724 significantly. it is concluded that organisation capability has a strong influence on sme performance and business model innovation can significantly strengthen the influence of organisation capability on sme performance. iv. conclusions smes is doing the opportunity recognition so it can see new opportunities in line with high market demand since building an sme without seeing any market opportunities will have an impact on sme performance. some existing sme performance measures indicators such as market share and adequate finance. it is believed that the sme performance will be better if a large market share and adequate finance are provided. therefore, the research finds that opportunity recognition has a significant effect on sme performance. organisation capability influences on sme performance due to achieving good sme performance following the objectives of smes. it requires strategies or ways of using all resources owned effectively and efficiently because, if the resources owned are not optimised or in other words, not appropriately utilised, the performance of the sme decreases. business model innovation weakens the effect of opportunity recognition because smes in indonesia remains lacking knowledge on how to apply business model innovation on opportunity recognition. the questionnaire shows that respondents disagree with product adaptation to consumer desires, where smes in indonesia still focuses on looking for opportunities. business model innovation strengthens the effect of organisation capability on smes performance, and this is by applying innovations to products and processes, in line with the organisation capability where the ability to exploit the resources properly possessed smes itself. based on the questionnaire results, most respondents agree that they could compete by having adequate skills and the expertise to develop their business. the excellent company skills will bring good business models, and profitable business models will help an organization to achieve optimal performance. the research has several limitations that create opportunities for future research. in fit primer, this research selects respondents limited to the dki jakarta area, making it possible for respondents to be in a wider area to obtain more accurate results. second, the questionnaire is obtained from the owner of the sme. therefore, future research can be carried out by applying a longitudinal survey to be able to capture the impact and the relationship between operational recognition, organizational capacity, and innovative business development. references anand, d. & mantrala, m. 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(2020). organizational agility: ill-defined and somewhat confusing? a systematic literature review and conceptualization. management review quarterly, 71(1), 343-391. https://doi.org/10.1007/ s11301-020-00186-6 microsoft word 01_laksmi sito_pengembangan karier.doc pengembangan karier sebagai motivator... (laksmi sito dwi irvianti) 1 pengembangan karier sebagai motivator kerja karyawan laksmi sito dwi irvianti1 abstract regarding the importance of employee’s work motivation and how it affects the productivity and the performance of the employees and the company, it’s necessary to have certain ways to maintain the motivation, in order to have a better performance. one of the ways is providing career development program for the employees. keywords: career development, work motivation abstrak mengingat pentingnya motivasi kerja karyawan, karena mempengaruhi produktivitas serta kinerja karyawan dan perusahaan, maka diperlukan cara-cara tertentu agar karyawan dapat terus termotivasi untuk menghasilkan kinerja yang lebih baik. salah satu cara yang dapat dilakukan adalah dengan menyediakan program pengembangan karier bagi karyawan. kata kunci: pengembangan karier, motivasi kerja 1 staf pengajar fakultas ekonomi, univ. pelita harapan, jakarta, dan ubinus, jakarta journal the winners, vol. 5 no. 1, maret 2004: 1-7 2 pendahuluan manusia merupakan unsur yang paling penting dalam suatu perusahaan karena manusialah yang mengelola seluruh sumber daya yang dimiliki sehingga tujuan perusahaan dapat tercapai. setiap orang dalam bekerja tidak semata-mata mencari nafkah untuk memenuhi kebutuhan hidupnya namun juga untuk memperoleh karier yang baik dalam hidupnya. oleh karena itu, perusahaan tidak hanya sekedar memberikan pekerjaan tetetapi juga karier bagi karyawannya. salah satu usaha yang dilakukan perusahaan dalam rangka memberikan karier bagi karyawannya adalah dengan melaksanakan perencanaan dan pengembangan karier yang baik bagi karyawannya. selain itu, program pengembangan karier dipandang sebagai salah satu cara meningkatkan motivasi kerja karyawan yang akan menguntungkan perusahaan pada akhirnya. pembahasan pengembangan karier dalam hidupnya, seseorang tentu menginginkan keberhasilan. salah satunya adalah keberhasilan dalam bekerja yang ditandai dengan oleh kemajuan kariernya. kemajuan karier seseorang merupakan salah satu motivasi yang menonjol untuk berpartisipasi aktif dalam suatu organisasi. karier adalah semua pekerjaan yang dimiliki seseorang semasa hidupnya (wertherdavis, 1996). karier juga dipandang sebagai pengalaman kerja yang miliki seseorang secara terus-menerus sepanjang masa (milkovich & boudreau,1997). dari definisi tersebut dapat terlihat bahwa karier dapat dipandang dari sudut individu maupun dari sudut organisasi. kombinasi kebutuhan, nilai, dan bakat akan bertindak sebagai ‘pemandu’ seseorang pada satu atau beberapa jenis karier yang berhubungan. bagi perusahaan, tugas untuk mengembangkan karyawan tidak berhenti setelah karyawan diberikan pendidikan dan latihan untuk menyelesaikan tugasnya. manajer sdm yang baik harus melihat jauh ke depan, di luar tugasnya sekarang. oleh sebab itu, perhatian terhadap pengembangan karier dalam jangka panjang harus meliputi pengembangan terhadap karyawan secara luas dan dilakukan perusahaan secara kontinu. kebutuhan untuk merencanakan dan mengembangkan karier muncul baik dari sisi perusahaan maupun karyawan. dengan program pengembangan karier berarti perusahaan telah mempersiapkan sumber daya manusia yang andal untuk memenuhi kebutuhan perusahaan dalam jangka panjang. selain itu, perusahaan tidak perlu tergantung terhadap proses rekrutmen apabila ada posisi kosong yang harus segera diisi. tidak adanya perhatian yang memadai dari pihak perusahaan terhadap pengembangan karier karyawan akan menimbulkan berbagai masalah yang akan menurunkan kinerja perusahaan. pengembangan karier adalah suatu proses yang melalui proses tersebut seseorang menjadi lebih perhatian terhadap atribut yang berkaitan dengan karier dan tahapan yang memberikan kontribusi terhadap pencapaian karier ke tingkat puncak (dessler, 2003). pengembangan karier pengembangan karier sebagai motivator... (laksmi sito dwi irvianti) 3 juga terdiri dari tindakan atau langkah yang diambil oleh individu untuk mencapai tujuan karier (werther-davis, 1997). dari definisi tersebut diketahui bahwa program pengembangan karier adalah suatu program yang formal dan terstruktur yang dilakukan perusahaan. dilihat dari sudut pandang perusahaan, pengembangan karier memiliki tiga tujuan sebagai berikut. 1. untuk memenuhi kebutuhan akan sdm sekarang dan dimasa yang akan datang; 2. untuk menginformasikan jalur karier yang ada di perusahaan; 3. untuk mengintegrasikan program sdm yang ada dengan rencana perusahaan. jika tujuan karier telah ditetapkan dan komitmen untuk mencapainya telah dibuat maka beberapa tindakan untuk pengembangan karier sangat diperlukan, misalnya sebagai berikut. 1. job performance merupakan langkah penting untuk pengembangan karier karena tanpa kinerja yang baiktujuan karier tidak akan tercapai. 2. exposure yang berarti dikenal oleh atasan atau orang yang membuat keputusan tentang promosi, transfer, dan peluang karier lain. tanpa exposure, seseorang yang memiliki kinerja yang baik mungkin tidak mendapatkan peluang untuk mencapai tujuan kariernya. 3. networking merupakan exposure yang didapatkan dari luar perusahaan. ketika seseorang merasa bahwa kariernya tidak berkembang atau mengalami layoff maka networking dapat membantu memberikan peluang kerja yang lebih baik. 4. resignation atau pengunduran diri, mungkin dapat menjadi satu-satunya cara untuk mencapai tujuan karier ketika ada peluang karier yang lebih baik di luar perusahaan. jika dilakukan dengan benar dan efektif, resignation akan diikuti dengan promosi, peningkatan kompensasi, serta menambah pengalaman dengan mempelajari hal-hal baru karena resignation merupakan bagian dari strategi karier . 5. mentor, yaitu seseorang yang memberikan masukan dan informasi yang berkaitan dengan karier. jika mentor tersebut dapat menominasikan seorang karyawan untuk pengembangan karier seperti promosi, transfer, dan lain-lain maka mentor tersebut menjadi seorang sponsor, yaitu seseorang yang dapat menciptakan peluang pengembangan karier. biasanya, sponsor seorang karyawan adalah atasan langsung. 6. subordinate atau bawahan, kinerja seorang manajer tergantung dari kinerja bawahannya sehingga bawahan juga berperan dalam pengembangan karier seorang manajer. 7. pengalaman internasional. memang menyediakan suatu manajemen karier yang baik merupakan tanggung jawab perusahaan namun pengembangan karier bukan hanya tanggung jawab perusahaan semata. masing-masing individu juga memiliki tanggung jawab untuk dapat meningkatkan kariernya sesuai bakat, minat, keahlian, dan prestasi kerja yang dimiliki. journal the winners, vol. 5 no. 1, maret 2004: 1-7 4 gambar 1 a system vew of career planning and development pengembangan karier dapat dibedakan menjadi dua macam. 1. vertikal melalui promosi. promosi adalah kegiatan pemindahan karyawan, dari satu jabatan kepada jabatan lain yang lebih tinggi. dengan demikian, promosi akan selalu diikuti tugas, tanggung jawab, dan wewenang yang lebih tinggi dari jabatan sebelumnya. 2. horizontal melalui mutasi atau transfer. mutasi adalah kegiatan memindahkan karyawan dari suatu pekerjaan ke pekerjaan lain yang dianggap setingkat atau sejajar. mutasi merupakan kegiatan rutin perusahaan untuk dapat melaksanakan prinsip “the right man on the right place”. manajemen karier, terutama program pengembangan karier, juga terkait dengan program sdm lainnya sebagai berikut. 1. internal staffing, karyawan perusahaan mendapat prioritas pertama untuk mengisi posisi kosong yang ada di perusahaan. salah satu dampak positif dari internal staffing adalah meningkatnya motivasi kerja karyawan karena mereka merasa dihargai oleh perusahaan dengan diberikan peluang untuk mengembangkan karier . 2. manajemen kinerja merupakan dasar dari program pengembangan karier .tanpa adanya penilaian kinerja karyawan, program pengembangan karier tidak dapat dilaksanakan karena perusahaan memutuskan utnuk memberikan promosi atau mutasi terhadap seseorang atas dasar kinerjanya. 3. program pelatihan dan pengembangan karyawan. 4. manajemen kompensasi karena peningkatan karier seseorang tidak hanya diikuti oleh peningkatan tanggung jawab dan wewenang tetetapi juga penyesuaian atau peningkatan kompensasi. dalam kenyataannya, banyak masalah yang biasa dihadapi suatu perusahaan dalam melaksanakan program pengembangan karier, seperti berikut ini. career planning career path career goal career development feedback pengembangan karier sebagai motivator... (laksmi sito dwi irvianti) 5 1. tidak adanya manajemen kinerja atau sistem penilaian kinerja karyawan yang merupakan dasar dari program pengembangan karier . 2. ada sistem penilaian kinerja karyawan tetetapi dalam pelaksanaannya terjadi banyak bias atau penyimpangan sehingga tidak dapat mengukur kinerja karyawan yang sebenarnya. 3. perusahaan tidak mempunyai visi ke depan untuk mengembangkan keahlian dan keterampilan karyawannya yang tercermin dari tidak adanya program pelatihan karyawan. 4. tidak adanya suatu manajemen kompensasi yang baik. motivasi kerja kata motivasi berasal dari kata “motif” yang merupakan daya dorong dan ekspresi kebutuhan bagi seseorang. motif seseorang berbeda dengan motif orang lain, tergantung pada kebutuhan yang belum terpenuhi. motif itulah yang melatarbelakangi perilaku seseorang untuk bertindak dalam mencapai suatu tujuan. motivasi dapat didefinisikan sebagai dorongan yang dimiliki seseorang untuk bertindak karena seseorang tersebut ingin melakukan hal itu (wertherdavis,1996). kuat lemahnya motivasi seorang karyawan akan mempengaruhi prestasi kerja yang dihasilkan. dari prestasi kerja tersebut ditentukan apakah karyawan tersebut akan mendapatkan imbalan atau hukuman. secara garis besar, teori motivasi dapat dibedakan menjadi dua kategori, teori kepuasan dan teori proses. teori kepuasan memusatkan perhatian terhadap faktor di dalam individu yang mendorong, mengarahkan, mempertahankan, dan menghentikan perilaku. teori proses menerangkan dan menganalisis bagaimana perilaku didorong, diarahkan, dipertahankan, dan dihentikan. teori kepuasan yang paling populer adalah teori motivasi maslow yang menyatakan adanya hierarki kebutuhan setiap orang. jika pada suatu waktu kebutuhan pada tingkat yang lebih rendah terpuaskan maka akan timbul kebutuhan yang lebih tinggi dan demikian seterusnya. hierarki kebutuhan maslow sebagai berikut. needs for actualization esteem needs affiliation safety & security needs physiological needs gambar 1 hierarki kebutuhan maslow journal the winners, vol. 5 no. 1, maret 2004: 1-7 6 1. physiological needs merupakan kebutuhan pada tingkat terendah dalam hierarki kebutuhan yang terdiri dari kebutuhan akan makanan, minuman, pakaian, dan tempat tinggal. 2. safety and security needs, yaitu kebutuhan akan keamanan, rasa tenteram, dan bebas dari rasa takut. 3. affiliation or accepted by others, yaitu kebutuhan akan kasih sayang, persahabatan, dan interaksi. 4. esteem needs, yaitu kebutuhan atas harga diri dan penghargaan dari pihak lain. 5. needs for self actualization, yaitu kebutuhan akan perwujudan diri dan pencapaian cita-cita diri untuk dapat menunjukkan potensi atau kemampuan. selain teori maslow, juga terdapat teori erg dari alderfer dan teori 2 faktor dari herzberg yang termasuk dalam teori kepuasan. tidak seperti maslow, hierarki kebutuhan alderfer hanya terdiri dari 3 set kebutuhan berikut ini. 1. eksistensi, yaitu kebutuhan yang terpuaskan oleh faktor seperti makanan, gaji, kondisi pekerjaan. 2. keterkaitan (relatedness), yaitu kebutuhan akan hubungan interpersonal yang berarti. 3. pertumbuhan (growth), kebutuhan yang terpuaskan dengan menciptakan kontribusi yang kreatif atau produktif. herzberg mengembangkan teori kepuasan yang disebut dengan teori 2 faktor. teori herzberg menyebutkan adanya faktor higieni atau kondisi ekstrinsik yang menyebabkan ketidakpuasan seperti upah, kondisi kerja, dan mutu supervisor. faktor lainnya adalah motivator atau kondisi intrinsik yang bila terpenuhi akan menimbulkan motivasi yang kuat yang menghasilkan prestasi kerja yang baik. teori motivasi yang disebutkan di atas menunjukkan bahwa setiap individu tidak akan puas hanya dengan terpenuhinya kebutuhan dasar tetapi akan terus berusaha memenuhi kebutuhan lain yang lebih tinggi. karier dan motivasi kerja bagaimana karier dapat dijadikan motivator untuk meningkatkan kinerja karyawan? berdasarkan teori motivasi, manusia akan berusaha mencapai kebutuhan di tingkat yang lebih tinggi. karyawan yang sudah merasa puas akan gajinya, karena dapat memenuhi kebutuhan dasar, akan termotivasi untuk memenuhi kebutuhan lain seperti aktualisasi diri. mereka akan berusaha memperoleh peningkatan karier dan berusaha mencapai posisi tertinggi yang ada di perusahaan. karyawan yang termotivasi utuk meningkatkan kariernya, akan terus berusaha untuk bekerja dengan baik. selain itu, mereka juga harus menyadari kekurangan yang terdapat dalam dirinya, bagaimana mengatasi kekurangan tersebut, dan apa yang harus dilakukan untuk meningkatkan dan mengembangkan keahlian dan bakat yang dimiliki. walaupun secara teoritis pengembangan karier dapat memotivasi karyawan, kenyataan dalam dunia kerja tidaklah selalu sesuai dengan teori. masih banyak perusahaan yang tidak menyediakan program pengembangan karier sehingga yang diberikan hanyalah pekerjaan bukan suatu karier. bagi sebagian orang, dapat mencapai puncak karier merupakan suatu kebanggaan tersendiri dan hal itulah yang memacu seseorang untuk terus berprestasi baik. oleh sebab itu, perusahaan perlu memiliki suatu manajemen karier yang baik yang dapat mengembangkan potensi karyawannya. pengembangan karier sebagai motivator... (laksmi sito dwi irvianti) 7 penutup simpulan 1. sumber daya manusia yang dimiliki perusahaan adalah aset yang berharga karena seluruh kegiatan operasional perusahaan dilakukan oleh manusia. pencapaian tujuan perusahaan juga tergantung dari sumber daya manusia yang dimiliki. oleh karena itu, penting bagi perusahaan untuk selalu menjaga dan meningkatkan motivasi kerja karyawannya. 2. salah satu cara yang dapat dilakukan perusahaan untuk meningkatkan motivasi karyawan adalah dengan memberikan karier, bukan hanya pekerjaan, bagi karyawannya. untuk itu, perusahaan perlu memiliki suatu manajemen karier yang baik. 3. pengembangan karier tidak semata-mata tanggung jawab perusahaan namun juga tanggung jawab masing-masing individu. individu harus dapat melihat peluang yang ada untuk peningkatan karier mereka, mengetahui apa kelemahan dan kelebihannya sehingga dapat menentukan langkah yang harus diambil untuk mengembangkan kariernya. daftar pustaka dessler, gary. human resource management. 9th edition. prentice-hall. 2003. madura, jeff. 2001. pengantar bisnis. 2nd edition. penerbit salemba empat. milkovich, george and john boudreau. 1997. human resource management. 8th edition. irwin. werther, william and keith davis. 1996. human resources and personnel management. 5th edition. mcgraw-hill. microsoft word 06_dian_setting.doc iklan, asosiasi merek, .....(dian tauriana; devy safriliana) 137 iklan, asosiasi merek, dan keputusan pembelian dian tauriana1; devy safriliana2 jurusan manajemen, fakultas ekonomi dan bisnis, universitas bina nusantara, jln. k.h. syahdan no. 9, palmerah, jakarta barat 11480 dtauriana@binus.edu abstract the impact of advertising on brand association has raised many questions among scholars. some agree that advertising can leverage and help building brand association in consumer’s perspective. others are against this opinion. however, this research is trying to investigate whether advertising does correlate to brand association that later on impacts on purchase decision making. data collected by interviewing respondents regarding car purchase in the showroom. the analysis is conducted by using path analysis. from the result, it is figured out that the influence/impact of brand association on purchase decision making is very low. thus, other element such as advertising and any activities to leverage brand association should be taken into account. keywords: advertising, brand association, purchase decision making abstrak dampak iklan terhadap asosiasi merek telah menimbulkan banyak pertanyaan di kalangan para peneliti. beberapa peneliti setuju bahwa iklan dapat mengangkat dan membantu membangun asosiasi merek dalam perspektif konsumen. sedangkan peneliti lain-lain menentang pendapat ini. namun, penelitian ini mencoba untuk menyelidiki apakah iklan tidak berkorelasi dengan asosiasi merek yang kemudian berdampak pada keputusan pembelian keputusan. data yang dikumpulkan melalui wawancara responden mengenai pembelian mobil di showroom. analisis dilakukan dengan menggunakan analisis jalur. dari hasil itu, menyadari bahwa pengaruh/dampak dari asosiasi merek pada pengambilan keputusan pembelian sangat rendah. dengan demikian, unsur lain seperti iklan dan setiap kegiatan untuk asosiasi leverage merek harus diperhitungkan. kata kunci: iklan, asosiasi merek, pengambilan keputusan pembelian 138 journal the winners, vol. 10 no. 2, september 2009: 137-147 pendahuluan di berbagai macam media untuk periklanan, televisi telah menjadi media globalisasi yang paling efektif dan banyak diminati masyarakat karena pada masa sekarang ini televisi bukanlah merupakan barang mewah lagi, tetapi sudah menjadi kebutuhan bagi masyarakat. banyak pengiklan memandang televisi sebagai salah satu media yang paling efektif untuk menyampaikan pesan-pesan komersialnya. keunggulan lainnya adalah kemampuan membangun dan menguatkan asosiasi merek. asosiasi merek dapat membantu merangkum sekumpulan fakta dan spesisfikasi yang mungkin sulit diproses dan diakses para konsumen. beberapa brand association membutuhkan atribut produk atau customer benefits yang dapat memberikan alasan spesifik untuk membeli dan menggunakan merek tersebut. pt buana indomobil trada adalah grup dari pt indomobil sukses internasional, tbk (perseroan) yang merupakan pemegang merek atau distributor kendaraan suzuki. pt buana indomobil trada merupakan salah satu kelompok usaha otomotif yang terbesar dan terkemuka di indonesia, dengan fokus usaha di bidang ritel, pelayanan purna jual, layanan service, dan pembiayaan kendaraan bermotor. pada saat ini, pt buana indomobil trada telah berkembang seiring meningkatnya permintaan konsumen akan produk mobil suzuki. oleh karena itu, penting bagi perusahaan untuk mencari berbagai cara untuk terus meningkatkan penjualan. salah satu produk yang banyak diminati oleh konsumen adalah new suzuki swift. sejak diluncurkan dengan versi ckd (completely knocked down), new suzuki swift dianggap menjadi kendaraan yang merakyat karena harganya yang sangat kompetitif dibandingkan dengan para pesaingnya. walaupun ada pengurangan fasilitas dibanding versi sebelumnya, cbu (completely built up), hal ini tidak mengurangi kenyamanannya. oleh karena itu, diperlukan media untuk menginformasikan tentang new suzuki swift. salah satunya dengan iklan yang diharapkan dapat menciptakan brand association new suzuki swift serta dapat meningkatkan keputusan pembelian. berdasarkan hal-hal tersebut, maka peneliti tertarik untuk menjawab masalah penelitian sebagai berikut (1) bagaimana penilaian konsumen mengenai periklanan new suzuki swift?, (2) bagaimana penilaian konsumen mengenai brand association new suzuki swift?, (3) bagaimana keputusan pembelian yang dilakukan oleh konsumen new suzuki swift?, (4) berapa besar kontribusi periklanan terhadap brand association new suzuki swift?, (5) berapa besar kontribusi brand association terhadap keputusan pembelian new suzuki swift?, (6) berapa besar kontribusi periklanan terhadap keputusan pembelian new suzuki swift?, dan (7) berapa besar kontribusi periklanan serta brand association terhadap keputusan pembelian new suzuki swift?. adapun tujuan penelitian ini dilakukan adalah untuk (1) mengetahui bagaimana penilaian konsumen terhadap periklanan, (2) mengetahui bagaimana penilaian konsumen terhadap brand association, (3) mengetahui bagaimana keputusan pembelian yang dilakukan oleh konsumen, (4) mengetahui berapa besar kontribusi periklanan terhadap brand association, (5) mengetahui berapa besar kontribusi brand association terhadap keputusan pembelian, (6) mengetahui berapa besar kontribusi periklanan terhadap keputusan pembelian, dan (7) mengetahui berapa besar kontribusi periklanan serta brand association terhadap keputusan pembelian. periklanan adalah pembayaran komunikasi non-personal dari sponsor yang diketahui menggunakan media massa untuk mengajak atau memengaruhi masyarakat (wells, burnet dan moriarty, 2000:6). sementara itu, ada 2 ukuran dalam mengukur efektivitas iklan (sutherland, 2007:351), yang pertama difokuskan pada merek dan yang kedua difokuskan pada iklan. untuk mengukur efektivitas iklan yang difokuskan pada iklan, yaitu (1) mengenal iklan. jika orang tidak mengenali iklan setelah beberapa pekan ditayangkan, pengiklan bisa memastikan bahwa ada hal yang keliru karena ini bukanlah tes yang demikian “mudah”. pertanyaannya adalah “adakah yang keliru iklan, asosiasi merek, .....(dian tauriana; devy safriliana) 139 dengan iklan atau jadwal media?.” kita bisa mengatakan bahwa ini merupakan masalah jadwal media dengan mencek angka media yang menunjukkan bagaimana jangkauan kumulatif iklan (persentase orang yang benar-benar setidaknya mempunyai satu kesempatan melihatnya); dan (2) mengingat kembali iklan secara spontan (mengingat kembali iklan dengan petunjuk kategori). bila konsumen hanya ditunjukkan oleh kategori produk dan konsumen secara spontan mengingat kembali iklan dengan menyebut merek dan pesan yang tepat ini akan mengatakan lebih banyak tentang kekuatan koneksi dalam ingatan konsumen, dibandingkan jika merek hanya mampu mengenal iklan. dibutuhkan koneksi yang lebih kuat agar bisa mengingat kembali rincian iklan dibanding sekedar bisa mengenal iklan. asosiasi merek dengan iklan. kekuatan hubungan antara eksekusi iklan dan merek diungkap dalam jawaban pada bagian kedua prosedur menanyakan seperti yang ditunjukkan di atas, yaitu “merek apa yang sedang diiklankan?.” pengukuran asosiasi merek dan iklan yang benar ini penting karena merupakan faktor kunci bagi kita untuk mengingat kembali dan menceritakan iklan secara detail, tapi keliru mengaitkan ingatan kita dengan merek yang salah. asosiasi merek adalah sesuatu yang berkaitan dengan ingatan mengenai sebuah merek (aaker dalam rangkuti, 2008:43). asosiasi itui tidak hanya eksis, namun juga memiliki suatu tingkat kekuatan. keterkaitan pada suatu merek akan lebih kuat apabila dilandasi pada banyak pengalaman atau penampakan untuk mengkomunikasikannya. berbagai asosiasi yang diingat konsumen dapat dirangkai sehingga membentuk citra tentang merek atau brand image di dalam benak konsumen. secara sederhana, pengertian brand image adalah sekumpulan asosiasi merek yang terbentuk di benak konsumen. konsumen yang terbiasa menggunakan merek tertentu cenderung memiliki konsistensi terhadap brand image atau hal ini disebut juga dengan kepribadian merek (brand personality). keputusan merupakan suatu pemilihan tindakan dari 2 atau lebih pilihan alternative (ristiyanti prasetijo dan john j.o.i ihalaw, 2005:226). dengan kata lain, orang yang mengambil keputusan harus mempunyai satu pilihan dari beberapa alternatif yang ada. pengambilan keputusan konsumen (consumer decision making) adalah proses pengintegrasian yang mengkombinasikan pengetahuan untuk mengevaluasi 2 atau lebih perilaku alternatif dan memilih salah satu di antaranya. hasil pengintegrasian ini adalah suatu pilihan (choice) yang disajikan secara kognitif sebagai keinginan berperilaku. pertama, hipotesis 1, yakni ho adalah tidak adanya kontribusi yang signifikan antara variabel x terhadap variabel y dan ha adalah adanya kontribusi yang signifikan antara variabel x terhadap variabel y. kedua, hipotesis 2, yakni ho adalah tidak adanya kontribusi yang signifikan antara variabel y terhadap variabel z dan ha adalah adanya kontribusi yang signifikan antara variabel y terhadap variabel z. ketiga, hipotesis 3, yakni ho adalah tidak adanya kontribusi yang signifikan antara variabel x terhadap variabel z dan ha adalah adanya kontribusi yang signifikan antara variabel x terhadap variabel z. keempat, hipotesis 4, yakni ho adalah tidak adanya kontribusi yang signifikan antara variabel x dan y terhadap variabel z dan ha adalah adanya kontribusi yang signifikan antara variabel x dan y terhadap variabel z metode penelitian unit analisis berupa individu, yaitu para konsumen dari new suzuki swift. time horizon yang digunakan adalah cross sectional, yaitu suatu penelitian yang dilakukan dalam kurun waktu tertentu (umar, 2005:131) (tabel 1). 140 journal the winners, vol. 10 no. 2, september 2009: 137-147 tabel 1 desain penelitian tujuan penelitian disain penelitian jenis penelitian metode penelitian unit analisis time horizon t – 1 deskriptif survei individu -> konsumen cross sectional t – 2 deskriptif survei individu -> konsumen cross sectional t – 3 deskriptif survei individu -> konsumen cross sectional t – 4 asosiatif survei individu -> konsumen cross sectional t – 5 asosiatif survei individu -> konsumen cross sectional t – 6 asosiatif survei individu -> konsumen cross sectional t – 7 asosiatif survei individu -> konsumen cross sectional sumber: hasil pengolahan data keterangan: t1 : mengetahui bagaimana penilaian konsumen mengenai periklanan new suzuki swift. t2 : mengetahui bagaimana penilaian konsumen mengenai brand association new suzuki swift. t3 : mengetahui bagaimana keputusan pembelian yang dilakukan oleh konsumen new suzuki swift. t4 : mengetahui berapa besar pengaruh periklanan terhadap brand association new suzuki swift. t5 : mengetahui berapa besar pengaruh brand association terhadap keputusan pembelian new suzuki swift. t6 : mengetahui berapa besar pengaruh periklanan terhadap keputusan pembelian new suzuki swift. t7 : mengetahui berapa besar pengaruh periklanan serta brand association terhadap keputusan pembelian new suzuki swift. operasional variabel merupakan penjelasan pengertian dari teori variabel sehingga dapat diamati dan diukur dengan menentukan hal-hal yang diperlukan untuk mencapai tujuan tertentu. tabel 2 operasionalisasi variabel penelitian operasional variabel no variabel konsep variabel dimensi/sub variabel indikator utama ukuran skala pengukuran 1 periklanan (x) suatu bentuk pesan tentang poduk new suzuki swift yang disampaikan melalui suatu media pengenalan iklan • mengetahui iklan swift • mengetahui slogan iklan ordinal yang ditransform menjadi interval skala likert pengantaran pesan • memahami pesan dari iklan • mengetahui informasi yang terdapat pada iklan media iklan • pemilihan media periklanan 2 brand association (asosiasi merek) (y) segala sesuatu yang berkaitan dengan ingatan konsumen mengenai merek new suzuki swift perceived value (nilai yang dirasakan) • kualitas produk • harga • kualitas layanan • emosional • kemudahan ordinal yang ditransform menjadi interval skala likert brand personality (kepribadian merek) • tipe pengguna • ciri pembawaan kepribadian seseorang organization association (asosiasi organisasi) • orientasi pada masyarakat • inovasi • keberadaan dan keberhasilan iklan, asosiasi merek, .....(dian tauriana; devy safriliana) 141 tabel 2 operasionalisasi variabel penelitian (continued) operasional variabel no variabel konsep variabel dimensi/sub variabel indikator utama ukuran skala pengukuran 3 keputusan pembelian (z) pengenalan kebutuhan konsumen akan suatu alat transportasi khususnya kendaraan beroda empat, hingga pada akhirnya konsumen memilih new suzuki swift serta perilakunya setelah membeli pengenalan masalah • sadar akan adanya kebutuhan ordinal yang ditransform menjadi interval skala likert pencarian informasi • mencari informasi evaluasi alternatif • mengadakan seleksi terhadap alternatif pembelian • pemilihan akan produk perilaku pasca pembelian • rasa puas • merekomendasikan kepada orang lain sumber: peneliti data didapat langsung dari konsumen new suzuki swift yang dijadikan responden, melalui penyebaran kuesioner. kuesioner merupakan teknik riset, di mana data dikumpulkan langsung secara sistematis dari orang-orang yang sedang diteliti. penelitian ini menghasilkan data primer. adapun cara yang dipergunakan untuk mengumpulkan data primer tersebut adalah studi pustaka dan wawancara. sampling yang digunakan adalah random sampling, yaitu para konsumen new suzuki swift yang melakukan service di pt buana indomobil trada pondok indah periode januari hingga oktober 2008. penyebaran kuesioner kepada konsumen new suzuki swift dilakukan sejak tanggal 15 november sampai dengan 28 desember 2008. analisis diawali pada instrumen penelitian, yaitu kuesioner dengan melakukan uji validitas dan reliabilitas. kemudian, dari hasil kuesioner tersebut didapatkan data yang akan dianalisis lebih lanjut untuk menjawab tujuan-tujuan penelitian, yaitu dengan analisis korelasi pearson dan path analysis. hasil dan pembahasan hasil penelitian tabel 3 korelasi periklanan dengan brand association periklanan brand association periklanan pearson correlation 1 ,871(**) sig. (2-tailed) . ,000 n 100 100 brand association pearson correlation ,871(**) 1 sig. (2-tailed) ,000 . n 100 100 ** correlation is significant at the 0.01 level (2-tailed). 142 journal the winners, vol. 10 no. 2, september 2009: 137-147 tabel 4 coefficients periklanan dan brand association model unstandardized coefficients standardized coefficients t sig. b std. error beta 1 (constant) ,598 ,192 3,115 ,002 periklanan ,824 ,047 ,871 17,516 ,000 a dependent variable: brand association pengujian antara variabel periklanan (x) dan variabel brand association (y) pengujian antara variabel x dan variabel y ini ditunjukkan dalam tabel 4, yakni: hipotesis: ho = variabel periklanan tidak berkontribusi secara signifikan terhadap variabel brand association. ha = variabel periklanan berkontribusi secara signifikan terhadap variabel brand association. dasar pengambilan keputusan jika nilai probabilitas lebih kecil atau sama dengan nilai probabilitas sig atau (0,05 ≤ sig), maka ho diterima dan ha ditolak, artinya tidak signifikan. jika nilai probabilitas lebih besar atau sama dengan nilai probabilitas sig atau (0,05 ≥ sig), maka ho ditolak dan ha diterima, artinya signifikan. dari hasil uji signifikansi pada tabel 4, diperoleh nilai sig sebesar 0,000. jika dibandingkan dengan α = 0,05, maka nilai sig lebih kecil dari α (sig ≤ α) yaitu 0,000 ≤ 0.05 yang artinya ho ditolak atau ha diterima. kesimpulannya adalah variabel periklanan berkontribusi secara signifikan terhadap variabel brand association. tabel 5 korelasi periklanan, brand association dan keputusan pembelian periklanan brand association keputusan pembelian periklanan pearson correlation 1 ,871(**) ,947(**) sig. (2-tailed) . ,000 ,000 n 100 100 100 brand association pearson correlation ,871(**) 1 ,869(**) sig. (2-tailed) ,000 . ,000 n 100 100 100 keputusan pembelian pearson correlation ,947(**) ,869(**) 1 sig. (2-tailed) ,000 ,000 . n 100 100 100 ** correlation is significant at the 0.01 level (2-tailed). iklan, asosiasi merek, .....(dian tauriana; devy safriliana) 143 tabel 6 anova periklanan, brand association dan keputusan pembelian model sum of squares df mean square f sig. 1 regression 45,450 2 22,725 464,846 ,000(a) residual 4,742 97 ,049 total 50,192 99 a predictors: (constant), brand association, periklanan b dependent variable: keputusan pembelian tabel 7 koefisien periklanan, brand association dan keputusan pembelian model unstandardized coefficients standardized coefficients t sig. b std. error beta 1 (constant) ,013 ,135 ,096 ,923 periklanan ,792 ,064 ,786 12,391 ,000 brand association ,197 ,068 ,185 2,920 ,004 a dependent variable: keputusan pembelian pengujian secara simultan (keseluruhan) antara variabel bebas x dan y dengan variabel terikat z uji simultan ditunjukkan oleh tabel 5, yaitu: hipotesis: ho = variabel periklanan (x) dan brand association (y) tidak berkontribusi secara simultan dan signifikan terhadap variabel keputusan pembelian (z). ha = variabel periklanan (x) dan brand association (y) berkontribusi secara simultan dan signifikan terhadap variabel keputusan pembelian (z) dasar pengambilan keputusan jika nilai probabilitas lebih kecil atau sama dengan nilai probabilitas sig atau (0,05 ≤ sig), maka ho diterima dan ha ditolak, artinya tidak signifikan. jika nilai probabilitas lebih besar atau sama dengan nilai probabilitas sig atau (0,05 ≥ sig), maka ho ditolak dan ha diterima, artinya signifikan. dari hasil uji signifikansi pada tabel 6, diperoleh nilai sig. sebesar 0,000. jika dibandingkan dengan α = 0,05, maka nilai sig lebih kecil dari α (sig ≤ α) yaitu 0,000 ≤ 0,05 yang artinya ho ditolak atau ha diterima. kesimpulannya adalah variabel periklanan dan brand association berkontribusi secara simultan dan signifikan terhadap variabel keputusan pembelian. oleh sebab itu, pengujian secara individual dapat dilakukan serta besarnya pengaruh variabel x dan y secara simultan terhadap variabel z dapat diketahui dengan melihat nilai r2 pada tabel 4.20 bahwa r2 = 0,906 = 90,6%. besarnya pengaruh variabel lain yang mempengaruhi nilai variabel z diluar penelitian ini adalah sebesar 9,4%. 144 journal the winners, vol. 10 no. 2, september 2009: 137-147 pengujian secara individual pengujian secara individual antara variabel periklanan (x) dan variabel keputusan pembelian (z) pengujian secara individual ini ditunjukkan dalam tabel 7, yakni: hipotesis: ho = variabel periklanan tidak berkontribusi secara signifikan terhadap variabel keputusan pembelian ha = variabel periklanan berkontribusi secara signifikan terhadap variabel keputusan pembelian (z) dasar pengambilan keputusan jika nilai probabilitas ”lebih kecil atau sama” dengan nilai probabilitas sig atau (0,05 ≤ sig), maka ho diterima dan ha ditolak, artinya tidak signifikan. jika nilai probabilitas ”lebih besar atau sama” dengan nilai probabilitas sig atau (0,05 ≥ sig), maka ho ditolak dan ha diterima, artinya signifikan. dari hasil uji signifikansi pada tabel 5, diperoleh nilai sig sebesar 0,000. jika dibandingkan dengan α = 0,05, maka nilai sig lebih kecil dari α (sig ≤ α), yaitu 0,000 ≤ 0,05 yang artinya ho ditolak atau ha diterima. kesimpulannya adalah variabel periklanan berkontribusi secara signifikan terhadap variabel brand association. pengujian secara individual antara variabel brand association (y) dan variabel keputusan pembelian (z) pengujian secara individual ini ditunjukkan dalam tabel 5, 6, dan 7, yakni: hipotesis: ho = variabel brand association tidak berkontribusi secara signifikan terhadap variabel keputusan pembelian. ha = variabel brand association berkontribusi secara signifikan terhadap variabel keputusan pembelian. dasar pengambilan keputusan jika nilai probabilitas ”lebih kecil atau sama” dengan nilai probabilitas sig atau (0,05 ≤ sig), maka ho diterima dan ha ditolak, artinya tidak signifikan. jika nilai probabilitas ”lebih besar atau sama” dengan nilai probabilitas sig atau (0,05 ≥ sig), maka ho ditolak dan ha diterima, artinya signifikan. berdasarkan tabel 5, diperoleh variabel brand association nilai sig sebesar 0,004. kemudian, dibandingkan dengan probabilitas 0,05, ternyata nilai probabilitas 0,05 lebih besar dari nilai probabilitas sig atau (0,05 ≤ sig), maka ho ditolak dan ha diterima. kesimpulannya adalah variabel brand association berkontribusi secara signifikan terhadap keputusan pembelian. dalam pengujian secara individual, diperoleh bahwa variabel periklanan berkontribusi secara signifikan terhadap variabel keputusan pembelian dan variabel brand association berkontribusi secara signifikan terhadap variabel keputusan pembelian. pembahasan penelitian dari hasil analisis-analisis sebelumnya, maka dilakukan analisis pengaruh dan hubungan untuk mengetahui seberapa besar pengaruh dan hubungan antara periklanan serta brand association terhadap keputusan pembelian. implikasi tersebut antara lain sebagai berikut (1) dari hasil pengolahan dan analisis data, maka dapat diperoleh kesimpulan bahwa periklanan new suzuki swift mempunyai hubungan yang sangat kuat, yaitu sebesar 0,871 dan periklanan memberikan kontribusi yang signifikan terhadap brand association sebesar 75,8%. sisanya adalah sebesar 24,2%, dipengaruhi oleh iklan, asosiasi merek, .....(dian tauriana; devy safriliana) 145 variabel-variabel lain. kontribusi ini dirasa besar sehingga diperlukan upaya-upaya untuk mempertahankan periklanan agar dapat menciptakan brand association lebih baik lagi; (2) dari hasil pengolahan dan analisis data, maka diperoleh kesimpulan bahwa terdapat hubungan yang sangat kuat antara brand association dengan keputusan pembelian, yaitu sebesar 0,869 dan brand association memberikan kontribusi yang signifikan terhadap keputusan pembelian sebesar 3,4%. kontribusi ini dirasa kecil sehingga diperlukan upaya-upaya untuk meningkatkan brand association; (3) dari hasil pengolahan dan analisis data menunjukkan bahwa terdapat hubungan yang sangat kuat antara periklanan dengan keputusan pembelian sebesar 0,947 dan periklanan memberikan kontribusi yang signifikan terhadap keputusan pembelian sebesar 89,6%; (4) dari hasil pengolahan dan analisis data secara simultan periklanan dan brand association memberikan kontribusi yang signifikan terhadap keputusan pembelian sebesar 90,6%. sisanya sebesar 9,4% merupakan pengaruh yang datang dari variabel-variabel lain di luar penelitian. simpulan berdasarkan hasil penelitian setelah menguji dan menganalisis, maka dapat ditarik kesimpulan sebagai berikut. secara keseluruhan, rata-rata penilaian konsumen mengenai periklanan new suzuki swift adalah baik. rata-rata konsumen dapat setuju informasi mengenai new suzuki swift melalui iklan di media televisi sudah disampaikan dengan jelas dan tepat. secara keseluruhan, rata-rata penilaian konsumen mengenai brand association adalah baik. elemen yang paling tersimpan di benak konsumen pada saat melihat atau mendengar nama new suzuki swift adalah kendaraan yang gesit dan cepat. hal ini didukung pula arti dari nama swift sendiri yaitu gesit. secara keseluruhan rata-rata penilaian konsumen mengenai keputusan pembelian termasuk dalam kategori setuju, yang artinya konsumen memutuskan untuk membeli dan menggunakan new suzuki swift. dalam melakukan keputusan pembelian new suzuki swift, rata-rata konsumen membutuhkan new suzuki swift karena kebutuhan akan transportasi untuk mobilitas sehari-hari dan dalam mencari informasi tentang new suzuki swift konsumen mencari secara personal. periklanan memberikan kontribusi terhadap brand association sebesar 75,8%. sisanya sebesar 24,2% dipengaruhi oleh variable-variabel lainnya di luar penelitian. berdasarkan uji hipotesis, periklanan berpengaruh secara signifikan terhadap brand association. brand association memberikan kontribusi terhadap keputusan pembelian sebesar 3,4%. berdasarkan uji hipotesis, brand association berpengaruh secara signifikan terhadap keputusan pembelian. periklanan memberikan kontribusi yang signifikan terhadap keputusan pembelian sebesar 89,6%. berdasarkan uji hipotesis, periklanan berpengaruh secara signifikan terhadap keputusan pembelian. periklanan dan brand association secara bersama-sama memberikan kontribusi yang signifikan terhadap keputusan pembelian new suzuki swift sebesar 90,6%. sisanya sebesar 9,4% dipengaruhi oleh variable-variabel lain. dengan memerhatikan hasil analisis dan pembahasan di atas, maka penulis mencoba mengajukan saran-saran sebagai berikut. pertama, sebaiknya periklanan new suzuki swift dipertahankan karena sudah efektif dalam menciptakan brand association dan mempengaruhi keputusan pembelian new suzuki swift. untuk mempertahankan iklan new suzuki swift dapat dilakukan dengan cara (1) rancang suatu strategi untuk meningkatkan brand association new suzuki swift, contohnya dengan meningkatkan frekuensi iklan yang tidak hanya secara kuantitas saja, melainkan juga secara kualitas agar dapat mengkomunikasikan keunggulan new suzuki swift tersebut sehingga dapat dipersepsikan positif oleh konsumen sehingga dapat menciptakan brand association yang kuat dan unik; (2) pesan yang disampaikan harus tetap jelas. pesan iklan dinilai sangat memengaruhi konsumen untuk melakukan niat beli, bahkan pembelian langsung. oleh karena itu, pesan iklan yang disampaikan kepada masyarakat adalah pesan iklan yang dapat dimengerti oleh audience; dan (3) medianya harus tetap mengikuti perkembangan tren dan cara menyajikan pesan harus sesuai dengan pola perilaku konsumen. apabila media periklanan yang digunakan lebih 146 journal the winners, vol. 10 no. 2, september 2009: 137-147 diperluas dan informasi yang diberikan lebih lengkap dan menarik, maka dapat dipastikan bahwa proses keputusan pembelian konsumen akan semakin meningkat. selain itu, mutu dan kualitas dari segi pelayanan maupun produk yang dihasilkan harus semakin ditingkatkan. kedua, dari hasil analisis, kontribusi brand association terhadap keputusan pembelian sangat kecil. untuk itu diperlukan cara untuk meningkatkan brand association new suzuki swift agar berdampak pada terjadinya keputusan pembelian konsumen, dilakukan dengan cara (1) new suzuki swift harus melakukan pembedaan agar dapat menahan gempuran dari para pesaingnya. hal ini akan mepmengaruhi keputusan pembelian, mendorong perasaan dan sikap positif; (2) new suzuki swift harus memperkuat positioningnya sebagai kendaraan yang memiliki banyak keunggulan, tidak hanya sebagai kendaraan yang gesit dan cepat karena hal ini penting dalam membantu pelanggan dalam proses mengingat kembali berbagai informasi yang diperlukan dalam pengambilan keputusan pembelian. daftar pustaka duncan, t. 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(2003). advertising principles and practice, 5th ed., prentice hall. economic liberalization in nepal …… (raghu bir bista) 33 economic liberalization in nepal: determinants, structure, and trends of fdi raghu bir bista department of economics, tribhuvan university, nepal bista3@hotmail.com abstract this research examined the relationship between foreign direct investment (fdi) and gross domestic product (gdp) along with the impact of fdi determinants on fdi inflow in nepal. this research used literature review by doing multiple regression models. this research applied an econometric model based on cobb douglas production model and a theoretical growth model based on solow growth. the result indicates the positive relationship between gdp and fdi. furthermore, liberalization and privatization policies are positive, but insecurity is disturbing. keywords: gross domestic product, gdp, economic liberalization, foreign direct investment, fdi introduction in the 1990s, there was an open development policy debate on how to develop countries with higher economic growth and how to tackle major economic issues, such as unemployment and poverty under resource constraint. behind this development thinking, there was the expectation of the people and problem of critical subsistence households. as its economic cure, nepal adopted economic liberalization to minimize public expenditure burden of lost public enterprises, mobilize private savings, investments, and fdi (foreign domestic investment) as well as to meet multilateral donors conditions of economic reform. despite controversy on economic liberalization and privatization process, all sectors were liberalized for private and foreign investment through industrial and foreign direct investment (fdi) policy of 1992 (hmg, 1993), except for a few national sensitive areas. in addition, fiscal barriers in international trade and market competition inside the country were well-tuned through value added tax (vat) introduction under fiscal reform (mof, 1995). nepal did trade liberalization, despite the non-compatibility bilateral trade treaty. consequently, economic liberalization was adopted for fdi inflow. there is policy logic behind fdi inflow for technology and knowledge inflow, management transfer and extension of export destinations, along with domestic market competition in labor market, good market, and money market. the issue is whether the policy logic is realized in reality, in ex-ante, or not at all. this research deals with this issue. the research’s main objective is to estimate the impact of liberalization on fdi inflow in nepal and the effect of fdi inflow in gdp. in addition, the research analyzes the structure and trend of fdi inflow in nepal. this is followed by an econometric model. its data sets are time series and secondary sources. economic liberalization has no regulation in the market. in other words, the government leaves economic activities (investment, production, and distribution) in the market with the assumption of the fair and free price mechanism and competition. how compatible this approach is in a developing country like in nepal, where markets of labor, goods, and money are imperfect under natural monopoly, social justice, and welfare of mass people, is a serious issue to be addressed. thus, the debate on this issue is 34 journal the winners, vol. 18 no. 1, march 2017: 33-41 going on. some literature is critical on its positive impact on the argument of the imperfect market and irrational consumers. however, policy literature has expected positive effect from economic liberalization and fdi. npc (1992) and industrial policy of 1995 provide arguments behind it, which are (1) nepal has surplus and the cheapest labor with comparative advantage to fdi firm, (2) there is accessibility to indian market, (3) there is no regulation of currency convertibility and share equity in fdi, (4) nepal does not have higher corporate tax and strictness on direct tax, (5) nepal provides fiscal safeguards to fdi firms in rural areas, (6) there are open economic sectors for fdi and nature of fdi, and (7) there are various resource potential areas such as water resources and tourism. this expectation is supported by the economic theory of the firm. the comparative advantage of cheapest labor can reduce the marginal cost of product and substitutability potentials between factors of production. as a result, it would be an excessive marginal benefit for fdi firm. although fdi firms are naturally profit motive, direct and indirect positive impact of the firms is expected. policy literature provides arguments behind it; they are (1) entry of fdi firms in nepal will bring technology, knowledge, brand, and management along with the scale, quality, and quantity. (2) demonstration effect of fdi firm will motivate the domestic firms to adopt and explore technology and management, improving scale, quality, and competition. (3) the entrance of fdi firms will increase market competition in the domestic market and competitive capacity in the international market. (4) export destination and volume will be intensified. and (5) there is a great prospect of developing labor and money market. besides that, the subsequence of export promotion, market competition, and fdi inflow will be positive on fiscal potentials, employment creation, reduction of trade deficit, competitive price of qualified goods, availability of various goods, and consumer decisions. theory of firm in microeconomics explains the firm as a profit motive. in order to make the profit, the firm has two problems, profit maximization, and cost minimization, which depend on the types of market. in economic liberalization, there is a possibility of transformation from the monopoly market to perfect market. products’ price depends on the demands of consumers, substitutability, and competition. the firm can only minimize the cost of production through factors production and scale of production. however, in developing countries, the fdi firm behaves like a monopolist which has no positive impact. vast literature supports this argument. some literature finds fdi firm bigger than government and tax manipulator. moreover, some literature also finds no corporate responsibility of the firm. in nepal, there are a few kinds of literature who study the impact of fdi such as bista (2005), dahal, nepal, amd aryal (2005), and rana & pradhan (2005). bista (2005) and dahal, nepal, and aryal (2005) found the positive impact of fdi in nepalese economy, but with different methods. bista (2005) examined effects of fdi in nepal through case study method. his result was the positive effect of fdi on employment, local development, csr (corporate social responsibility), and economic growth, despite small inflow of fdi. however, the study has not dealt with fdi’s effect on industrial productivity. on the other hand, dahal, nepal, aryal (2005) found poverty linkage of fdi. similarly, rana & pradhan (2005) suggested the requirement of fdi performance measurement. statistics of fdi from unctad 2016 provides fdi inflow trend picture. aggregate fdi inflow in the region tends to incline to the trend with significant growth. in regional disaggregate fdi flow by country, there are heterogeneous trends. for example, in bangladesh, fdi inflow trend line is found inclining with higher growth rate per annum. furthermore, the size of fdi is also significant. however, in nepal, fdi inflow trend line is fluctuating and declining trend with negligible size. this nepalese fdi inflow is the opposite of south asian fdi trend. while fdi trend in nepal, policy expectation, and delivery reality are two different sides of a coin but have a consequential move relationship between them. the delivery reality of fdi, which is the reflection of fdi policy and expectation, is illustrated by fdi size, trend, and structure. these three indicators explain whether economic liberalization and fdi policy are able to deliver policy thrust. they economic liberalization in nepal …… (raghu bir bista) 35 also explain whether the policy is effective to attract fdi as required and as expected, as well as where we are at the regional and international level. the expectation of policy literature on fdi inflow is not supported by the size of fdi inflow in nepal. in accordance with wbi in gould, tan, and emamgholi (2013), the fdi size is less than 1 % in south asia. when we observe its gdp size, it is negligible, despite labor surplus and comparative advantage. the economic situation in nepal indicates deserving country for it, like other developing countries. the direction of fdi in the world is market driven rather than deserving country. what to do in the condition of possible fdi shock, its investment and technological multiplier effects may puzzle the policy maker. figure 1 fdi trend figure 2 fdi in trend 0.0 20.0 40.0 60.0 80.0 100.0 120.0 140.0 160.0 180.0 fdi cumulated fdi 4.1 6.0 3.8 13.8 4.8 22.224.020.016.714.2 31.0 12.117.9 27.6 13.4 26.132.3 98.1 62.6 91.0 100.5 71.4 260.6 201.1 0.0 50.0 100.0 150.0 200.0 250.0 300.0 1 9 9 1 1 9 9 2 1 9 9 3 1 9 9 4 1 9 9 5 1 9 9 6 1 9 9 7 1 9 9 8 1 9 9 9 2 0 0 0 2 0 0 1 2 0 0 2 2 0 0 3 2 0 0 4 2 0 0 5 2 0 0 6 2 0 0 7 2 0 0 8 2 0 0 9 2 0 1 0 2 0 1 1 2 0 1 2 2 0 1 3 2 0 1 4 fdi in trend ( nrs in billion) 36 journal the winners, vol. 18 no. 1, march 2017: 33-41 the trend of fdi inflow in nepal from 1982 to 2007, and further to 2014 is unexpectedly reflected in a fluctuating line (figure 1 and 2). in order to analyze the figures further, it can be divided into economic reform i from 1982 to 1990 and economic reform ii from 1990 to 2007 and then 2014. the results from doing that show that fdi inflow in period i is inclining trend but period ii is fluctuating in the beginning, and then declining. economic reform ii can further be divided into two time periods (1) normal from 1990 to 1995, and (2) insurgency from 1996 to 2007 (figure 1). in the normal period, fdi trend is fluctuating, despite having adopted liberalization and privatization policy along with business environment and government commitment. it can be expected during the insurgency period. however, the overall trend of fdi inflow in nepal indicates something wrong and is quiet reverse with the inflow in south asia which is an inclining trend line. fdi structure is an important indicator to understand which types of fdi firms and fdi mother countries are interested in which sectors. this preference of fdi firms is co-integrated with national policy priority and whether this pattern of fdi structure is an optimal condition to nepal. it can be seen in the structure from mother countries, sector, and manufacturing sector. in fdi mother countries, there is heterogeneity of approximately 37 countries (developed and neighbor countries). major mother countries include india, china, usa, japan, france, south korea, and the uk. among them, neighbor countries such as india and china, have the most fdi source for nepal. then, it is followed by usa, south korea, japan, uk, and france (figure 3). thus, fdi incidence of india and china is relatively higher in nepal. how beneficial these countries’ fdi is in order to meet national expectation, may be a serious issue. figure 3 fdi mother countries nepal has the potential for water resources and tourism, but the largest fdi firms are coming into manufacturing sector and then followed by tourism, service, etc. except in manufacturing, tourism, and service sector, fdi inflow in construction, electricity, and agriculture is negligible; having only 2% or less than 2% (figure 4). this sector structure indicates two major attractions which are comparative benefits of nepalese labor and market access in both india and china under trade treaty preference. thus, fdi in the sector seems to be market driven as well as profit driven. 46% 12% 7% 5% 4% 3% 2% 21% fdi mother countries (%) india china usa s.korea japan uk france others (31 countries) economic liberalization in nepal …… (raghu bir bista) 37 figure 4 fdi in sectors (%) when further classify manufacturing sectors, there are eight major areas (1) textile and rea garment, (2) chemical and pl. product, (3) food beverage and tobacco, (4) fabric metal, (5) basic metal product, (6) paper and p. product, (7) non-met mi product, and (8) wood & wood product. fdi incidence is heterogeneous within manufacturing sector in which textile and rea garment receive the largest share, followed by chemical and pl. product, food beverage and tobacco, and fabric metal (figure 5). all these manufacturing sectors are value-added industries which are more domestic centered than export, except for textile and garment. in the case of textile and garment, fdi from india and china come to get us and germany textile quota trade facility. therefore, fdi inflow needs the reason to come into nepal. figure 5 fdi in manufacturing sector (%) methods there are kinds of literature (ahluwalia, 1991; pushpangadan & balakrishnan, 1994; goldar, 2002; rao, 1996; and trivedi, prakash, and sinate, 2000) that estimate the total factor productivity of industrial sector at different industrial or firm levels through parametric and non-parametric approach along with econometric models. this research is similar to those kinds of literature in total factor 34% 18%17% 12% 6% 5% 4% 2% 3% fdi in manufacturing sector(%) textile & rea. garment chem & pl. product food beverage & tobacco fabric metal basic metal product paper & p.product non-met mi product wood & wood product other manufacturing units 49% 24% 22% 2% 2% 1% 0% fdi in sectors (%) manufacturing tourism service industries construction electricity, water & gas agriculture &forestry mineral 38 journal the winners, vol. 18 no. 1, march 2017: 33-41 productivity growth aspect but is different in the aspect of country and character of the industry. this research uses an econometric model based on cobb douglas production model and a theoretical growth model based on solow growth. this research uses the econometric model. let us suppose there is a functional relationship between gdp, fdi, and export in economic liberalization policy environment. this relationship can be illustrated by econometric model to estimate whether fdi affects gdp. if gdp is a dependent variable and fdi, export, gdp ratio, privatization, and liberalization dummies an independent variable. then, the model is: gdp =α+β1fdi+β2export/gdp ratio +β3d1+β4d2+e (1) the reason why fdi comes in nepal is a curious issue. this can be examined on the basis of the assumption that passes fdi and policy environment effect on fdi inflow. let us consider fdi as a dependent variable and fdi (t-1) as well as dummy (policy environment) as independent variables. then, its econometric model is: fdi (t) =𝜆+δ1gdp +µ1d1+µ2d2+µ3d3+e (2) in addition, it can also be assumed that fdi (t-1), gdp (t-1), policy environment, and security effect on fdi inflow in the country. let us consider fdi as a dependent variable and fdi (t-1), gdp (t-1), and dummy (policy environment and security) as independent variables. then, its econometric model is: fdi (t) =𝜆+δ1gdp (t-1) +δ2fdi (t-1) +µ1d1+µ2d2+µ3d3+e (3) data sets of fdi, rgdp, and export are used in the research. the secondary sources, world bank investment report and department of industry in nepal are used for data sets of these variables. data sets from 1982 to 2007 are collected for the research. in order to cross check and get supplementary information, fncci and cni websites are also used. this research follows those studies on the impact of fdi. however, this is different in the aspect of its data sets, methods, and models. this research examines the impact of fdi based on the secondary data using econometric models. the estimation of fdi coefficients can be seen from the dataset of econometric models includes three variables in which gdp(y) is a dependent variable and fdi, export, and gdp ratio, as well as dummies (liberalization and privatization), are independent variables. the relationship between gdp, fdi, export, and gdp ratio as well as liberalization and privatization policy is curiosity. in this research, the author focuses on three questions (1) what would fdi contribute to gdp of the country through estimation of the coefficient of fdi? (2) what would export–gdp ratio effect on gdp be? (3) what would liberalization dummy and privatization dummy contribute to gdp of the country? this research uses time series aggregation database of gdp, fdi, and export gdp ratio from 1982 to 2007. it quantitatively answers the first question from the econometric model after estimations of coefficients of fdi, export-gdp ratio, liberalization, and privatization dummy. from this model, the effects of fdi on gdp can be interpreted through the estimated coefficients of fdi. the estimation of fdi determinant coefficients can be seen from the dataset of theoretical models includes three variables: fdi (t), fdi (t-1), gdp (t-1), liberalization (dummy), and insecurity (dummy). this model estimates the determinant of fdi through estimation of coefficients fdi (t-1), gdp (t-1), liberalization (dummy), and insecurity (dummy). this is done in order to understand the dependency of fdi inflow in nepal. the focuses of this research are (1) what would be the unknown coefficient of fdi (t-1) to understand how much fdi depends on it? (2) what would be the unknown coefficient of gdp (t-1) to understand how much fdi depends on gdp? (3) what would be the economic liberalization in nepal …… (raghu bir bista) 39 unknown coefficient of liberalization policy to understand how much liberalization attracts fdi? (4) what would be the unknown coefficient of insecurity? from the econometric model, all of the unknown values can be gathered. thus, the answer of the fdi determinants in nepal can be interpreted. results and discussions table 1 presents the mean and standard deviations of key variables used in the econometric model. in column 1, there are three key variables such as gdp as a dependent variable as well as fdi and export-gdp ratio as independent variables. there are also dummy one (liberalization) and dummy two (privatization). standard deviations of these variables from mean are insignificant so far. thus, mean of these variables properly represents the time series data of gdp, fdi, and export-gdp ratio which is collected from the secondary source. table 1 mean and standard deviations: real gdp, fdi, and export-gdp ratio variables 1982-2007 real gdp 2494,024 (269,65) fdi 5,90 (1,093) export-gdp ratio 0,102 (0,011) table 2 provides the results of the regression of dependent variable, gdp, on two independent variables, fdi and export-gdp ratio as well as dummies: d1 (liberalization) and d2 (privatization). there are five parameters; they are α, β1, β2, β3, and β4. in the results of regression, parameter α represents constant, β1 marginal change of fdi, β2 marginal change of export gdp ratio, β3 marginal change of d1, and β4 marginal change of d2. table 2 results of regressions of real gdp(y), fdi, export/gdp, d1 (1=lib), and d2 (1=priv) dependent variable: average real gdp(y) regressor 1 2 3 4 5 constant 648,269 (228,76) fdi 0,50 (29,06) export/gdp 6604,33 (3113,93) d1(1=liberalization, 0=other) 1387,86 (554,22) d2(1=privatization, 0=other) 571,87 (450,37) table 3 reveals the results of the econometric model in which fdi (t) is dependent, meanwhile fdi (t-1) and gdp (t-1), as well as d1 (liberalization) and d2 (insecurity), are independent. there are five unknown parameters: α, β1, β2, β3, and β4. in the results of regression, parameter α represents constant, β1 marginal change of fdi (t-1), β2 marginal change of gdp (t-1), β3 marginal change of d1, and β4 marginal change of d2. 40 journal the winners, vol. 18 no. 1, march 2017: 33-41 table 3 results of regressions of fdi, real gdp (t), fdi (t-1) d1 (1=lib), and d2 (1=priv), d3 (1=insecurity) dependent variable: fdi regressor 1 2 3 4 5 6 constant 0,17 (1,07) gdp(t-1) 0,003(0,094) fdi(t-1) 0,5(0,094) d1(1=liberalization, 0=other) 8(2,16) d2(1=privatization, 0=other) 3,43(2,79) d3(1=insecurity, 0=other) -3,5(1,07) the result of the econometric model is comprised of two aspects; whether fdi inflow affects gdp of the country, and what determines fdi inflow in nepal. regarding the first question, results of the econometric model estimation using unknown five parameters: α, β1, β2, β3, and β4; marginal change of fdi (β1) is 0,50. similarly, marginal change of export-gdp ratio (β3) is 6604,33. it is followed by β3 and β4 with 1387,86 and 571,87 respectively. in addition, r2 accumulated a value of 0,88. let us suppose there are two scenarios; adopting liberalization and privatization policy and adopting protectionism and state-led development policy. if nepal continues the state-led development policy, there will be no fdi possibility and no significant export-gdp ratio, and then gdp would be us$ 648,269 million. however, if nepal adopts liberalization and privatization policy, there will be fdi and export gdp ratio. if fdi inflow in nepal is 1, then the gdp will change for us$ 0,5 million. if the change of export gdp ratio is 1, gdp will increase to us$ 6604,33 million. in addition, liberalization and privatization policy will contribute us$ 1387,86 million and us$ 571,86 million. taking these into consideration, it can be seen that among those two scenarios, liberalization and privatization policy has the positive impact on fdi, export–gdp ratio, and gdp change. in addition, fdi has a positive relationship with gdp, but the export-gdp ratio has the better position in gdp contribution than fdi. this is explained by the r2 value (0,88). regarding the second question, results of the econometric model estimation using unknown five parameters: 𝜆, δ1, δ2, µ1, and µ2; constant (𝜆) is 0,17. moreover, marginal change of fdi (t-1) (δ1) is 0,50. similarly, marginal change of gdp (t-1) (δ2) is 0,003. it is followed by µ1, µ2, and µ3 with 8; 3,43; and -3,5 respectively. in addition, the r2 value is 0,82. conclusions fdi inflow determinants consist of many heterogeneous variables. here, there are four major variables such as fdi stock, gdp, policy environment, and security motivated fdi firms. if there are two scenarios: (1) no policy, no history of fdi and no good economy, but there is good security; (2) good policy environment, history of fdi, and economy, but no good security. in the first scenario, there is us$ 0,17 million fdi inflow. however, the second scenario has a different circumstance. under good policy environment and insecurity, let us suppose fdi (t-1) is 1, us$ 0,50 million will be gathered for fdi inflow, and gdp (t-1) is 1, then us$ 0,003 million will be acquired for fdi. in addition, liberalization and privatization policy increases 8 and 3,4 times more, but insecurity discourages 3,5 million ($). fdi inflow (t) depends more on fdi (t-1), policy environment, and security along with economic performance (gdp). it is explained by the r2 value (0,82). economic liberalization in nepal …… (raghu bir bista) 41 the result of the first question from the first econometric model clearly indicates the positive relationship between gdp and fdi, despite the small size and fluctuating trend. it explains fdi as potential resources which can contribute to gdp through industrial productivity growth. however, it is more likely when fdi inflow can be attracted. on the other hand, the second question from the second econometric model shows the different result. it is that the major determinants of fdi inflow are fdi (t-1), policy environment, and security situation. in order to attract fdi, determinants of fdi should be analyzed and focused on. furthermore, physical and policy environment which is still poor and under constraint for industrial expansion and trading, should be properly and environmental-friendly improved. references ahluwalia, i. j. (1991). productivity and growth in indian manufacturing. delhi, india: oxford university press. bista, r. b. (2005). foreign direct investment in nepal. kathmandu, nepal: center for integrated development studies. dahal, m. k., nepal, g., & aryal, s. (2005). a study of the impact of foreign direct investment policy of rich countries on poverty reduction of developing countries: a case study of manufacturing sector in nepal. pakistan: sanei. goldar, b. (2002). tfp growth in indian manufacturing in 1980s. economic and political weekly, 37(49), 4966-4968. gould, d. m., tan, c., & emamgholi, a. s. s. (2013). attracting foreign direct investment, what can south asia’s lack of success teach other developing countries? policy research working paper 6696. the world bank south asia region office of the chief economist. hmg (his majesty of government). (1993). foreign direct investment and technology transfer policy 1992. kathmandu, nepal: ministry of industry. mof (ministry of finance). (1995). economic survey. kathmandu, nepal: ministry of finance. npc (national planning commission). (1992). the eighth five-year plan. kathmandu, nepal: national planning commission. pushpangadan, k., & balakrishnan, p. (1994). total factor productivity growth in manufacturing industry: a fresh look. economic and political weekly, 29(31), 2028-2035. rana, m. s., & pradhan, s. m. (2005). implementation evaluation of foreign direct investment in nepal. policy paper 1 for economic policy network. kathmandu, nepal: adb and economic policy network. rao, j. m. (1996). manufacturing productivity growth: method and measurement. economic and political weekly, 31(44), 2827-2836. trivedi, p., prakash, a., & sinate, d. (2000). productivity in major manufacturing industries in india: 1973-74 to 1997-98. development research group study. mumbai, india: department of economic analysis and policy, reserve bank of india. microsoft word 03_budiman n_model kemiskinan.doc journal the winners, vol. 4 no. 2, september 2003: 78-93 78 perencanaan model penanggulangan kemiskinan petani berlahan sempit budiman notoatmojo1 abstract in general, the goal of the study is to develop planning model for alleviation for the poor from small farmers land-holding. specifically the main objective is to delineate the poorness of small land holding and how to recommend the alternative direct agro business investment planning model which will be given to them. the analytical methodology used statistical model entropy and coefficient of variation with the main parameter of farmers income and its stability. the sampling taken from 6 kabupaten in 3 provinces, central and east jawa and west sumatra. mostly the model used is integrated farming system (livestock, food crops, and perennial crops). keywords: poverty alleviation, farmer abstrak secara umum, tujuan penelitian ini membuat model perencanaan pengentasan kemiskinan untuk petani berlahan sempit. tujuan utamanya adalah mengurangi kemiskinan petani berlahan sempit dan memberikan rekomendasi alternatif perencanaan agribisnis langsung yang akan diberikan kepada mereka. metode analitis yang digunakan adalah model entropy statistik dan variasi koefisien dengan parameter utama pendapatan petani dan stabilitasnya. sampelnya diambil dari 6 kabupaten di 3 provinsi, jawa tengah, jawa timur, dan sumatera barat. model tersebut kebanyakan menggunakan sistem pertanian terintegrasi (ternak, pangan, dan tumbuhan abadi). kata kunci: penanggulangan kemiskinan, petani 1 peneliti senior deptan ri & staf pengajar jurusan manajemen, fakultas ekonomi, ubinus, jakarta perencanaan model penanggulangan kemiskinan… (budiman notoatmojo) 79 pendahuluan sebelum adanya krisis ekonomi yang terjadi sejak lebih dari 4 tahun silam, indonesia telah berhasil meningkatkan taraf hidup masyarakat termasuk masyarakat pedesaan dan masyarakat pertanian. keberhasilan tersebut diakui bahwa bukan hanya dalam hal peningkatan pendapatan tetapi juga dalam hal pengurangan jumlah penduduk miskin (pakpahan et al, 1995). selama periode antara 1970-an dan 1980-an, indonesia telah berhasil menurunkan jumlah penduduk miskin dari 65 persen menjadi 17 persen. prestasi itu merupakan hasil upaya yang dilakukan sejak lama. akan tetapi, dengan terjadinya krisis ekonomi yang berkepanjangan, angka penduduk miskin tersebut kembali meningkat dengan cepat. pada akhir tahun 1998, bps mencatat bahwa jumlah penduduk miskin mencapai 49,5 juta jiwa yang 31,9 juta diantaranya terdapat di pedesaan. beberapa lembaga, antara lain world food program (wfp) mengakui adanya dampak sosial krisis tersebut walaupun dinilai tidak sedramatis seperti yang digambarkan. bank dunia memperkirakan bahwa pertambahan jumlah penduduk miskin di indonesia akibat krisis ekonomi mencapai 11 persen atau sekitar 22 juta orang pada februari 1998. akan tetapi, ada anggapan bahwa sejak tahun 2000 jumlah penduduk miskin tersebut kembali menunjukkan penurunan. tingginya jumlah penduduk miskin tersebut menuntut dilakukannya langkah kongkrit dan mendasar untuk menekan angka tersebut. oleh karena itu, menjadikan penanggulangan kemiskinan sebagai suatu prioritas dalam pembangunan merupakan hal yang sangat positif. dengan perkataan lain, bahwa diperlukan kebijakan yang spesifik untuk meningkatkan kesejahteraan masyarakat khususnya masyarakat petani miskin di pedesaan, berupa pengaplikasian program pembangunan. bila tidak, hal itu akan membuka peluang munculnya permasalahan yang dapat mengancam proses keberlanjutan pembangunan itu sendiri. berbagai program penanggulangan kemiskinan telah dilakukan, baik berupa program jangka panjang maupun program jangka pendek. program jangka panjang lebih diarahkan pada upaya pemberdayaan masyarakat. program jangka pendek yang secara massal dilaksanakan untuk membantu mereka memenuhi kebutuhan minimum pada standar hidup pokok. manfred dan shauma (1998) menemukan bahwa berbagai hambatan ditemui dalam pelaksanaan program penanggulangan kemiskinan terutama disebabkan oleh sosialisasi yang kurang efektif baik pada anggota masyarakat yang menjadi sasaran program maupun pada pelaksana program itu sendiri. sebagian besar program tidak mengikutsertakan secara aktif masyarakat. dengan demikian, banyak dijumpai kasus bahwa program yang dilaksanakan tidak tepat sasaran baik jenis kegiatan maupun kelompok targetnya. petani miskin di pedesaan dapat diidentikkan dengan petani berlahan sempit yang disertai oleh keterbatasan aksesibilitas terhadap peluang ekonomi sebagai sumber pendapatan di luar pertanian. suntoro (1989) beranggapan bahwa kemiskinan disebabkan oleh faktor internal dan faktor eksternal. faktor internal berasal dari dalam diri seseorang atau lingkungannya. faktor eksternal adalah faktor di luar jangkauan individu yang menghambat seseorang untuk meraih kesempatan. artinya, bukan karena seseorang tidak mau bekerja tetapi struktur yang ada yang menjadi hambatan. sementara itu, berbagai studi memberi gambaran bahwa kemiskinan suatu komunitas dicirikan oleh rendahnya kualitas sumber daya manusia (rachman 1989 dan emanuel 2000), rendahnya penguasaan aset produktif, seperti lahan pertanian dan rendahnya aksesibilitas anggota masyarakat terhadap sumber permodalan dan peluang ekonomi (taryoto, 1995). journal the winners, vol. 4 no. 2, september 2003: 78-93 80 lebih lanjut melihat bahwa ada dua karakteristik desa miskin, yaitu terbatasnya aset produktif seperti lahan dan kapital dan kualitas sumber daya manusia sebagian besar sangat rendah. kedua karakteristik tersebut diduga merupakan kendala dalam mengaplikasikan suatu teknologi atau pemanfaatan secara optimal kesempatan ekonomi. walaupun demikian, hayami dan masau (1997) membuktikan bahwa secara umum dalam kondisi tertentu perubahan teknologi dapat berpengaruh posirif terhadap penanggulangan kemiskinan. pada dasarnya, petani miskin di pedesaan dicirikan tidak hanya oleh tingkat pendapatan yang rendah tetapi tidak stabilnya pendapatan itu sendiri juga merupakan permasalahan yang harus dihadapi. oleh karena itu, upaya pengentasan kemiskinan bagi petani berlahan sempit seyogyanya memperhatikan kedua hal tersebut. artinya, program pengentasan kemiskinan diarahkan tidak hanya pada peningkatan pendapatan tetapi juga menstabilkan pendapatan secara bersama-sama. dalam kaitan itu, departemen pertanian merasa terpanggil untuk ikut berpartsipasi dalam upaya turut memperbaiki taraf hidup kelompok masyarakat yang kurang beruntung tersebut. dalam mengaplikasikan program penanggulangan kemiskinan masyarakat pertanian di pedesaan, diperlukan pengetahuan yang komprehensif agar “sesuai” baik dari segi kelompok sasaran, jenis kegiatan, waktu, maupun lokasi yang spesifik demi keberhasilannya. untuk itu, diperlukan penelitian dalam rangka memperoleh berbagai informasi mengenai karakteristik masyarakat petani miskin dan faktor yang menyebabkannya meliputi aspek sosial dan ekonomi. studi perencanaan model penanggulangan kemiskinan petani berlahan sempit ini dilaksanakan oleh tim oleh penulis sebagai project director dan dr. faisal kasryino sebagai penasehat utama. pembahasan kerangka pemikiran i. orientasi pembangunan pertanian pembangunan pertanian pada dasarnya adalah suatu upaya untuk meningkatkan kualitas hidup petani. dalam usaha tersebut, diperlukan partisipasi petani dan masyarakat sehingga peningkatan produksi komoditas pertanian dapat dicapai lebih efisien dan dinamis diikuti pembagian surplus ekonomi antarpelaku secara adil. sehubungan dengan hal itu, strategi pembangunan pertanian merupakan peningkatan kualitas dan produktivitas sumber daya manusia (human capital) masyarakat pertanian, meningkatkan penguasaan aset produktif pertanian, inovasi teknologi baru, dan menata kembali kebijaksanaan pembangunan ekonomi dan pengembangan kelembagaan pertanian dalam arti luas. masalah yang dihadapi dalam pembangunan pertanian dan pedesaan adalah produktivitas tenaga kerja dan penguasaan aset produktif yang rendah disertai adanya dualisme antara pertanian rakyat yang tradisional dan perusahaan besar yang maju dan modern dan dualisme antara kota dan desa. kondisi itu menyebabkan rendahnya pendapatan masyarakat dan tingginya tingkat kemiskinan di pedesaan. oleh karena itu, pembangunan pertanian harus berorientasi pada peningkatan produktivitas tenaga kerja, pendapatan, dan kesejahteraan masyarakat petani dan pedesaan dengan sebesar mungkin melibatkan masyarakat. perencanaan model penanggulangan kemiskinan… (budiman notoatmojo) 81 operasionalisasi paradigma baru dan kerangka fikir pembangunan pertanian dikemukakan pada gambar 1. dari gambar tersebut terlihat bahwa peranan pemerintah difokuskan pada memberikan pelayanan dan memfasilitasi kegiatan produksi yang dilaksanakan masyarakat melalui berbagai investasi dan pengembangan kelembagaan penunjang, terutama kelembagaan penguasaan aset produktif (lahan pertanian) dan lembaga keuangan pedesaan yang mandiri. pembangunan yang dillaksanakan selama ini telah menciutkan lahan pangan di jawa seluas hampir sejuta hektar (kurang lebih separuhnya adalah lahan beririgasi), berkurangnya 1,9 juta petani dan bertambahnya 2,6 juta buruh tani (sensus pertanian 1993) dan semakin sempitnya penguasaan lahan per petani. hal itu merupakan refleksi tidak efektifnya pelaksanaan uupa 1960 yang sekaligus kegagalan pembangunan pertanian dan kebijaksanaan ekonomi makro. gambar 1 kebijakan pembangunan pertanian (modifikasi hazell and rosegrant, 1999) journal the winners, vol. 4 no. 2, september 2003: 78-93 82 dari strategi pembangunan pertanian yang dilukiskan pada gambar 1, dapat dijelaskan bahwa tanpa investasi kebijaksanaan pemerintah masyarakat mampu melakukan investasi pertanian. secara tidak langsung pemerintah dapat mendorong investasi pertanian melalui investasi bidang pendidikan, pengembangan sarana dan prasarana ekonomi, penelitian dan pengembangan. secara langsung melalui kebijaksanaan moneter dan pengembangan lembaga keuangan pedesaan yang mandiri dan kebijaksanaan pertanahan dan aset produktif, termasuk kebijaksanaan tata guna lahan dan tata ruang pembangunan pertanian. hal penting lain yang perlu mendapat perhatian adalah pemantapan ketahanan pangan dan menghilangkan kemiskinan. ketahanan pangan mencakup berbagai aspek, antara lain ketersediaan, keandalan, keberlanjutan dan keterjangkauan. golongan masyarakat yang paling rentan terhadap perubahan adalah angkatan kerja yang bekerja di sektor informal dengan kualitas dan produkrivitas tenaga kerja yang masih rendah. kondisi itu semakin parah dengan terbatasnya jangkauan terhadap penguasaan lahan pertanian dan aset produktif lainnya. kualitas hidup masyarakat pedesaan dipengaruhi oleh (i) terjadinya saling keterkaitan dan sinergi antara pengembangan ekonomi perkotaan, nonpertanian pedesaan, dan sektor pertanian; (ii) peningkatan produksi pertanian dan nonpertanian pedesaan yang berorientasi pada peningkatan kesempatan berusaha dan kesempatan kerja pedesaan; (iii) penyempurnaan kelembagaan pertanian dan pedesaan untuk memfasilitasi pengelolaan sumber daya alam secara optimal berkelanjutan; dan (iv) pengelolaan konsumsi bernilai gizi dan sanitasi pedesaan. secara keseluruhan disederhanakan pada gambar 2. gambar 2 pengembangan kualitas hidup masyarakat (dimodifikasi dari hazell dan rosegrant, 1999) perencanaan model penanggulangan kemiskinan… (budiman notoatmojo) 83 ii. cakupan analisis secara umum, strategi pembangunan pertanian merupakan upaya peningkatan kesejahteraan petani dan masyarakat pedesaan. pertumbuhan ekonomi pedesaan yang pesat dalam waktu bersamaan menciptakan peningkatan pendapatan masyarakat miskin, pertumbuhan dengan pemerataan, dan kelestarian lingkungan. keterkaitan antara tiga parameter tersebut disederhanakan dalam “segi-tiga kritis” (critical triangle) seperti disajikan pada gambar 3. gambar 3 segi-tiga kritis pada pembangunan pedesaan (sumber: adb, 2000) analisis diarahkan pada bagaimana kebijaksanaan dan strategi pemerintah mempengaruhi segi-tiga kritis. review secara komprehensif diperlukan pada sektor pertanian dan ekonomi pedesaan yang relevan dengan pertumbuhan ekonomi pedesaan dan pengentasan kemiskinan. di samping itu, juga diperlukan (i) review dan analisis intervensi pemerintah terhadap insentif produksi, subsidi, dan pajak pada struktur ketenagakerjaan pertanian, produksi, pendapatan, pelestarian sumber daya alam, dan kemiskinan; (ii) analisis perubahan struktur dan pola ketenagakerjaan pertanian, produksi, dan jender; (iii) perubahan struktur konsumsi rumah tangga; (iv) diskusi mengenai implikasi dari perubahan ekonomi pedesaan terhadap pertumbuhan, pengentasan kemiskinan dan kelestarian pembangunan; dan (v) memprediksi alternatif pilihan untuk pertumbuhan pertanian dan pedesaan di masa mendatang dan kemungkinan kebijaksanaan intervensi untuk mendorong pertumbuhan dengan pemerataan dan pelestarian pembangunan. iii. fokus analisis rumah tangga petani miskin berlahan sempit dicirikan oleh dua faktor utama, yaitu tingkat pendapatan yang rendah dan tingginya fluktuasi menurut waktu. komunitas di masyarakat dapat diklasifikasi ke dalam tingkatan dari kedua parameter tersebut. tingkat pendapatan distrata dalam 3 klas, yaitu tingkat pendapatan tinggi, sedang, dan rendah. strata yang sama juga dilakukan pada stabilitas pendapatan, yaitu pendapatan dengan stabilitas tinggi, sedang, dan rendah. hubungan kedua parameter dalam masing-masing klas disederhanakan dengan matriks berikut ini. journal the winners, vol. 4 no. 2, september 2003: 78-93 84 tingkat pendapatan t-r t-s t-t s-r s-s s-t r-r r-s r-t stabilitas pendapatan keterangan t-t : petani berpendapatan tinggi dengan stabilitas tinggi t-s : petani berpendapatan tinggi dengan stabilitas sedang t-r : petani berpendapatan tinggi dengan stabilitas rendah s-t : petani berpendapatan sedang dengan stabilitas tinggi s-s : petani berpendapatan sedang dengan stabilitas sedang s-r : petani berpendapatan sedang dengan stabilitas rendah r-t : petani berpendapatan rendah dengan stabilitas tinggi r-s : petani berpendapatan rendah dengan stabilitas sedang r-r : petani berpendapatan rendah dengan stabilitas rendah selanjutnya, para petani berpenghasilan rendah juga dapat dikategorikan ke dalam 3 jenis status garapan lahan pertanian, yaitu pemilik penggarap, penggarap (bagi hasil) dan buruh tani, dan dihubungkan juga dengan tingkat stabilitas pendapatan. hubungan tersebut disederhanakan pada matriks berikut. perencanaan model penanggulangan kemiskinan… (budiman notoatmojo) 85 status garapan p-r p-s p-t g-r g-s g-t b-r b-s b-t stabilitas pendapatan keterangan p-t : petani dengan status pemilik penggarap dengan pendapatan stabilitas tinggi p-s : petani dengan status pemilik penggarap dengan pendapatan stabilitas sedang p-r : petani dengan status pemilik penggarap dengan pendapatan stabilitas rendah g-t : petani dengan status penggarap dengan pendapatan stabilitas tinggi g-s : petani dengan status penggarap dengan pendapatan stabilitas sedang g-r : petani dengan status penggarap dengan pendapatan stabilitas rendah b-t : petani dengan status buruh tani dengan pendapatan stabilitas tinggi b-s : petani dengan status buruh tani dengan pendapatan stabilitas sedang b-r : petani dengan status buruh tani dengan pendapatan stabilitas rendah selain dengan tingkat pendapatan dan status garapan lahan, tingkat stabilitas pendapatan petani dihubungkan juga dengan agroekosistem (lahan sawah irigasi, lahan sawah tadah hujan, dan lahan kering). hal itu didasarkan pada asumsi bahwa agroekosistem suatu wilayah erat hubungannya dengan aktivitas ekonomi anggota masyarakat yang hidup dan bekerja di wilayah yang bersangkutan. secara sederhana hubungan antara kedua parameter tersebut ditunjukkan pada matriks berikut. journal the winners, vol. 4 no. 2, september 2003: 78-93 86 agroekosistem i-r i-s i-t h-r h-s h-t k-r k-s k-t stabilitas pendapatan keterangan i-t : petani di lahan irigasi dengan pendapatan stabilitas tinggi i-s : petani di lahan irigasi dengan pendapatan stabilitas sedang i-r : petani di lahan irigasi dengan pendapatan stabilitas rendah h-t : petani di lahan tadah hujan dengan pendapatan stabilitas tinggi h-s : petani di lahan tadah hujan dengan pendapatan stabilitas sedang h-r : petani di lahan tadah hujan dengan pendapatan stabilitas rendah k-t : petani di lahan kering dengan pendapatan stabilitas tinggi k-s : petani di lahan kering dengan pendapatan stabilitas sedang k-r : petani di lahan kering dengan pendapatan stabilitas rendah penelitian akan mengidentifikasi faktor penyebab rendahnya tingkat pendapatan dan rendahnya tingkat stabilitas serta alternatif solusi meningkatkan kedua parameter tersebut. bagi petani yang memiliki tingkat pendapatan rendah, diupayakan cara yang efektif untuk meningkatkannya sementara petani yang belum memiliki pendapatan yang stabil, diupayakan solusi yang sesuai. secara spesifik analisis yang dilakukan berkaitan dengan upaya peningkatan kesejahteraan petani miskin berlahan sempit dan berbagai aspek, baik yang terkait langsung maupun tidak langsung. aspek yang dimaksud meliputi (i) identifikasi mengenai karakteristik rumah tangga petani yang klasifikasikan berdasarkan tingkat pendapatan dan stabilitas pendapatan; (ii) identifikasi faktor yang menyebabkan pendapatan rumah tangga petani rendah dan faktor yang mengakibatkan tidak stabilnya pendapatan; dan (iii) identifikasi mengenai alternatif solusi untuk meningkatkan dan menstabilkan pendapatan rumah tangga. perencanaan model penanggulangan kemiskinan… (budiman notoatmojo) 87 tujuan penelitian dan keluaran yang diharapkan i. tujuan penelitian secara umum, penelitian bertujuan untuk menciptakan model perencanaan pengentasan kemiskinan khususnya rumah tangga petani berlahan sempit dengan bertahap dan berkesinambungan. secara spesifik, tujuan yang akan dicapai adalah (i) membangun model perencanaan dalam rangka membantu petani miskin berlahan sempit; dan (ii) menentukan model bantuan/fasilitas/investasi pemerintah secara bertahap untuk membantu petani miskin berlahan sempit. ii. keluaran yang diharapkan keluaran yang diharapkan dari penelitian ini terkait langsung dengan tujuan yang ingin dicapai, yaitu (1) model perencanaan dalam rangka membantu petani miskin berlahan sempit; dan (2) model bantuan/fasilitas/investasi pemerintah untuk membantu petani miskin berlahan sempit secara bertahap dan berkesinambungan dapat meningkatkan taraf hidup mereka. metode i. lokasi penelitian pemilihan lokasi penelitian didasarkan pada agroekosistem (lahan sawah irigasi, lahan sawah tadah hujan, dan lahan kering). dengan dasar luas dominan dari agroekosistem tertentu (lahan sawah irigasi, lahan sawah tadah hujan, dan lahan kering) dan populasi desa miskin yang relatif banyak, dipilih kabupaten sebagai lokasi penelitian. kabupaten yang secara sengaja dipilih yang mewakili masing-masing agroekosistem tersebut sebagai berikut. 1. lahan sawah irigasi kabupaten indramayu (jawa barat) kabupaten bojonegoro (jawa timur) 2. lahan sawah tadah hujan kabupaten blora (jawa tengah) kabupaten lombok tengah (ntb) 3. lahan kering kabupaten blitar (jawa timur) kabupaten lampung utara (lampung) ii. metode pemilihan lokasi dan responden pemilihan lokasi dilakukan secara bertingkat dengan beberapa tahap sebagai berikut. 1. ditingkat kabupaten dihimpun data mengenai kecamatan yang mencirikan agroekosistem tertentu. berdasarkan informasi tersebut dipilih 2 kecamatan yang dinilai sesuai dengan kriteria agroekosistem yang disaratkan dengan ciri (x/y) tertinggi. x = luas lahan pertanian dengan agroekosistem tertentu (kecamatan) y = total luas lahan pertanian (kecamatan) kedua kecamatan terpilih diklasifikasikan 1 kecamatan dengan aksesibilitas baik dan 1 kecamatan lagi dengan aksesibilitas buruk. kriteria tingkat aksesibilitas dipergunakan parameter berikut. journal the winners, vol. 4 no. 2, september 2003: 78-93 88 a. kondisi jalan b. jarak ke pusat perekonomian dan pemerintahan c. ada/tidak angkutan publik (kendaraan umum roda empat) 2. selanjutnya, dari masing-masing kecamatan terpilih, dipilih 3 desa yang dicirikan berikut ini. a. agroekosistem tertentu dengan kriteria (a/b) tertinggi a = luas lahan pertanian dengan agroekosistem tertentu (desa) b = total luas lahan pertanian (desa) b. proporsi rumah tangga miskin dengan (c/d) tertinggi c = jumlah rumah tangga miskin (desa) d = total jumlah rumah tangga (desa) rumah tangga miskin ditentukan menggunakan kriteria bkkbn seperti yang dipergunakan program jps, yaitu keluarga pra-sejahtera dan keluarga sejahtera-i 3. ke-6 desa (3 desa di kecamatan dengan aksesibilitas baik dan 3 desa di kecamatan dengan aksesibilitas buruk), dilakukan pengecekan langsung di lokasi untuk melihat kebenaran dan kesesuaian informasi yang diperoleh. hal yang dilakukan pengecekan di lokasi meliputi aspek agroekosistem, kemiskinan, aksesibilitas, populasi petani miskin berlahan sempit, jenis status garapan yang berlaku, jenis mata pencaharian angkatan kerja rumah tangga, dan lain-lain. 4. berdasarkan hasil pengecekan tersebut, dari 3 desa di masing-masing kecamatan dipilih 1 desa yang dinilai paling sesuai dengan kriteria yang dipergunakan. dengan demikian, diperoleh 2 desa contoh (masing-masing 1 desa setiap kecamatan) yang dijadikan lokasi penelitian. satu desa dengan tingkat aksesibilitas baik dan satu desa dengan aksesibilitas buruk. di masing-masing desa didaftar rumah tangga miskin melalui administrasi desa. dari daftar tersebut diklarifikasi dan mengeluarkan rumah tangga miskin yang tidak termasuk target penelitian, yaitu individu/kk yang tidak mampu untuk bekerja dan berusaha, seperti lanjut usia/jompo, cacat, sakit, dan sebagainya. 5. setiap desa dipilih secara acak sebanyak 30 rumah tangga dari daftar rumah tangga miskin yang telah “dibersihkan”. ke-30 rumah tangga tersebut diwawancara dengan kuesioner yang terstruktur. selain itu, data yang bersifat umum dan makro tingkat desa dikumpulkan dengan metode wawancara kelompok (group interview). iii. metode analisis dari setiap tujuan yang ingin dicapai, sebagian besar analisis yang dilakukan adalah dengan metode deskriptif. analisis menggunakan alat sederhana berupa nilai rata-rata, korelasi, tabelasi silang, frekuensi distribusi, dan lain-lain. parameter yang dipergunakan dalam analisis terdiri dari dua variabel utama yang meliputi pendapatan rumah tangga dan stabilitas pendapatan. definisi dan batasan kedua variabel tersebut sebagai berikut. 1. pendapatan rumah tangga merupakan total pendapatan yang diterima rumah tangga selama satu tahun yang berasal dari semua kegiatan/usaha dari semua anggota rumah tangga ditambah pendapatan lain yang diperoleh tanpa bekerja/berusaha. pendapatan rumah tangga dari berbagai sumber disederhanakan seperti berikut. perencanaan model penanggulangan kemiskinan… (budiman notoatmojo) 89 y = ∑ = n i ijx 1 + ∑ = m i ip 1 y = adalah total pendapatan rumah tangga xij = pendapatan dari kegiatan/usaha ke-j dari anggota rumah tangga ke-i pi = pendapatan yang diperoleh tanpa bekerja/berusaha ke-i 2. stabilitas pendapatan pada dasarnya, ukuran stabilitas pendapatan dikaitkan dengan waktu atau frekuensi menerima pendapatan (flow of income by time) dalam periode satu tahun. makin kecil variasi penerimaan pendapatan menurut waktu stabilitas pendapatan makin tinggi. atau, makin tersebar sejumlah pendapatan yang diterima menurut waktu, stabilitas pendapatan makin tinggi. untuk mendiagnosa tingkat stabilitas pendapatan suatu rumah tangga, dilakukan pendekatan dengan beberapa metode sebagai berikut. a. tabel sumber pendapatan menurut waktu (musim, bulan). b. ragam sumber pendapatan rumah tangga. c. rasio jumlah yang bekerja terhadap total anggota rumah tangga. iv. jenis data data yang diperlukan untuk analisis terdiri dari 2 jenis, yaitu data tingkat rumah tangga dan data yang bersifat umum. data tingkat rumah tangga meliputi karakteristik anggota rumah tangga, penguasaan aset produktif, tingkat teknologi usaha tani, sumber pendapatan rumah tangga, pengeluaran/konsumsi rumah tangga, keikutsertaan dalam kegiatan/program yang dilaksanakan, persepsi terhadap program yang ada dan harapan di waktu mendatang. data yang bersifat umum terdiri dari: keadaan umum masyarakat dan perubahan yang terjadi, peluang ekonomi dan aksesibilitas masyarakat terhadap fasilitas yang ada, potensi sumber daya alam yang dapat dikembangkan dan dimanfaatkan, kualitas dan kuantitas angkatan kerja, mobilitas tenaga kerja, tingkat upah, dan lain-lain. v. lingkup dan tahapan kegiatan lingkup penelitian dibatasi pada diskusi kualitatif mengenai karakteristik rumah tangga, identifikasi faktor yang menyebabkan pendapatan rumah tangga petani rendah, dan faktor yang mengakibatkan tidak stabilnya pendapatan. selain itu, analisis dan diskusi juga diarahkan pada identifikasi mengenai alternatif solusi untuk meningkatkan dan menstabilkan pendapatan rumah tangga. penelitian terdiri dari lima tahapan kegiatan, yaitu (i) persiapan yang terdiri dari pembuatan rancangan penelitian operasional dan membuat daftar pertanyaan; (ii) pengumpulan data dan informasi yang relevan; (iii) analisis dan pengolahan data; (iv) penulisan laporan dan seminar hasil; dan (v) finalisasi dan penggandaan laporan. journal the winners, vol. 4 no. 2, september 2003: 78-93 90 penutup hasil penelitian dan implikasi kebijakan pendapatan rumah tangga petani lahan sempit sangat bervariasi antaragroekosistem dan aksesibilitas. pada daerah dataran tinggi, rata-rata pendpatan berkisar antara rp280 ribu sampai rp2.326 ribu/kapita/tahun. sementara itu, pada daerah dataran rendah, berkisar antara rp321 ribu sampai rp2.888 ribu/kapita/tahun. pada umumnya, rata-rata pendapatan pada lahan kering lebih rendah dibandingkan agroekosistem lainnya. selain itu, pendapatan rumah tanga petani di daerah akses baik juga lebih tinggi dibandingkan di daerah akses buruk. hasil kajian juga menunjukkan bahwa pendapatan petani pemilik penggarap secara umum lebih tinggi daripada petani penggarap. kontribusi pendapatan rumah tangga petani berlahan sempit dari sektor pertanian lebih kecil dibandingkan sektor nonpertanian, yaitu antara 40-41 persen. kecenderungan tersebut berlaku untuk semua agroekosistem, kecuali pada lahan kering dataran tinggi (70-80%). kontribusi dominan tersebut terutama berasal dari usaha tani sayuran. ragam sumber pendapatan yang tercermin dari nilai indeks entropy menunjukkan bahwa sumber pendapatan rumah tangga petani di dataran tinggi lebih beragam daripada di dataran rendah. pada umumnya, pendapatan petani berlahan sempit sangat kecil dan fluktuatif sehingga tingkat dan stabilitas pendapatannya termasuk rendah. adapun karakteristik rumah tangga tersebut seperti berikut. (1) rata-rata uum kepala keluarga (kk) masih produktif; (2) pendidikan kk rendah; (3) ada anggota keluarga yang bekerja; (4) memelihara ternak; dan (5) sebagian besar pendapatannya berasal dari sektor nonpertanian. berdasarkan hasil temuan, upaya yang harus dilakukan untuk meningkatkan pendapatan petani berlahan sempit terutama dari sektor pertanian pada umumnya adalah (1) perbaikan teknologi sistem usaha tani; (2) pengembangan usaha peternakan; dan (3) pengembangan kelembagaan keuangan mikro di pedesaan. untuk lebih detail, alternatif program di setiap agroekosistem seperti berikut. i. daerah sawah irigasi dataran tinggi jangka pendek 1. peningkatan produksi padi dengan program p3t (peningkatan produksi padi secara terpadu) melalui ptt (pengelolaan tanaman dan sumber daya secara terpadu). pengembangan peternakan (ternak besar) secara komunal, selain mendapatkan keuntungan dari penggemukan, juga akan menyediakan tenaga kerja ternak dan pupuk kandang sebagai pupuk organik. untuk pakan, dapat digunakan jerami fermentasi yang selama ini dibakar. 2. pengembangan kelembagaan keuangan mikro, misalnya kum (kredit usaha mandiri) untuk mengatasi kekurangan modal. jangka panjang 1. pengembangan usaha tani ternak besar secara komunal agar pengelolaan kotoran lebih efisien. perbaikan manajemen pengelolaan ternak sistem komunal secara efisien. kebutuhan modal untuk pengusahaan ternak ataupun pembelian sarana produksi diperoleh dari lembaga keuangan (kum). perencanaan model penanggulangan kemiskinan… (budiman notoatmojo) 91 2. pengembangan agroindustri di pedesaan menggunakan bahan baku murah, tersedia lokal dan memiliki aspek pemasaran yang baik. ii. daerah sawah tadah hujan dataran tinggi jangka pendek 1. eksplorasi potensi air tanah dengan sumur pantek dan pompa air untuk meningkatkan produktivitas lahan dengan pola tanam jagung-padi-jagung. 2. peningkatan penguasaan teknologi sistem usaha tani jagung hibrida. 3. pengembangan lembaga keuangan mikro untuk modal usahatani dan nonpertanian seperti industri anyaman bambu skala rumah tangga. jangka panjang 1. pengembangan usaha ternak besar (sapi potong) dan ternak kecil (domba + kambing) dan penghijauan kawasan untuk penyediaan hijauan makanan ternak (hmt). pengembangan hmt meliputi pohon gamal dan di daerah tepian dapat ditanami rumput gajah, kinggras, dan lain-lain. 2. perbaikan sarana jalan antardusun dan desa. iii. daerah lahan kering dataran tinggi jangka pendek 1. program pengembangan usaha tani sayuran-ternak sapi potong terpadu dalam menunjang pengembangan program sayuran organik. 2. pengembangan kelembagaan koperasi dan keuangan mikro untuk mengatasi kesulitan permodalan usaha tani dan industri sulaman serta pemasaran hasil. jangka panjang 1. pembangunan dan perbaikan prasarana jalan untuk menekan biaya angkutan dan memperlancar arus barang (saprodi dan produksi). iv. daerah sawah irigasi dataran rendah jangka pendek 1. dalam usaha peningkatan pendapatan petani sistem usaha tani padi perlu dilaksanakan dengan pendekatan ptt, melalui perbaikan kesehatan lahan (pemberian pupuk organik), perbaikan teknik irigasi, penggunaan varietas unggul, dan pengelolaan hama penyakit terpadu. disarankan pola tanam padi-padi-palawija/sayuran untuk memotong siklus hama/ penyakit. 2. tanaman hortikultura pengembangan agribisnis semangka dan mentimun dengan varietas unggul. 3. pengembangan peternakan diarahkan pada jenis ternak ruminansia (sapi dan kambing/domba) dalam usaha optimalisasi tenaga kerja keluarga dan penyediaan pupuk kandang. disarankan usaha ternak besar dilakukan secara komunal. jangka panjang 1. dalam usaha mengatasi kekurangan air di musim kemarau maka perlu dikembangkan sumur pantek. 2. pengembangan lembaga keuangan mikro di pedesaan. journal the winners, vol. 4 no. 2, september 2003: 78-93 92 v. daerah sawah tadah hujan dataran rendah jangka pendek 1. pengembangan teknologi pompa air dan sumur pantek untuk mengatasi kekurangan air di musim kemarau. 2. pengembangan ternak sapi untuk sumber tenaga kerja dan sebagai sumber pendapatan tambahan pakan ternak sapi diperoleh dari jerami yang difermentasi. 3. pengembangan kelembagaan keuangan mikro untuk pengembangan yam buras. jangka panjang 1. perlu dikembangkan sistem kemitraan untuk pengembangan kacang tanah. vi. daerah lahan kering dataran rendah jangka pendek 1. bantuan permodalan usaha tani untuk mengurangi ketergantungan pada kelembagaan keuangan informal. 2. pemberdayaan dan penciptaan lumbung desa yang dapat membantu petani baik dalam kesediaan pangan maupun permodalan usaha tani. 3. bantuan ternak dengan pembinaan dan introduksi teknologi yang disertai kemudahan pemasaran. jangka panjang 1. untuk mengatasi kesulitan permodalan, diperlukan bantuan permodalan usaha tani untuk mengurangi ketergantungan pada sumber kredit informal melalui pengembangan kelembagaan keuangan mikro di pedesaan. 2. dalam usaha mempertahankan kesuburan tanah dan pemanfaatan limbah jagung, perlu dikembangkan usaha tani jagung-ternak secara terpadu. oleh karena itu, perlu bantuan ternak secara revolving. daftar pustaka collier, williams, gunawan wiradi soentoro, dan makali. 1974. “agricultural technology and institutional change in java “food research institute studies”.” vol 13 (no 21), hlm. 169-194. departemen koperasi. 1998. skim kredit untuk program koperasi, pengusaha kecil. direktorat fasilitas pembiayaan dan simpan pinjam, dep kop, jakarta 1998. haryadi, emmanuel 2000. micro finance and the poor, some reality checks in indonesia. pakpahan, a. 1995. “kerangka analitik untuk penelitian rekayaa sosial: perspektif ekonomi institusi.” effendi pasandaran et al. evolusi kelembagaan pedesaan di tengah perkembangan teknologi pertanian, pusat penelitian agro ekonomi, badan penelitian dan pengembangan pertanian. hlm. 1-18. perencanaan model penanggulangan kemiskinan… (budiman notoatmojo) 93 rachman, b. 1989. “skala usaha dan efisiensi alokasi masukan usahatani padi pada berbagai sistem penguasaan lahan di jawa barat.” efendi pasandaran et al. evolusi kelembagaan pedesaan di tengah perkembangan teknologi pertanian, pusat penelitian agro ekonomi, badan penelitian dan pengembangan pertanian. hlm. 78-93. sayogyo. 1979. mengenai partisipasi mendasar golongan masyarakat desa. bogor: lpsp-ipb. soentoro. 1989. “keragaan hubungan kerja dan penguasaan tanah pada pasca adopsi teknologi (kasus di sulawesi selatan).” efendi pasandaran et al. evolusi kelembagaan pedesaan di tengah perkembangan teknologi pertanian, pusat penelitian agro ekonomi, badan penelitian dan pengembangan pertanian. hlm. 59-77. suharto, p. 1996. petunjuk pelaksanaan sistem perkreditan grammen bank di indonesia. jakarta: yayasan mitra usaha. taryoto, andin h. 1995. “analisis kelembagaan dalam penelitian sosial ekonomi pertanian: suatu pengantar.” andin taryoto et al. prosiding kelembagaan dan prospek pengembangan beberapa komoditas pertanian. bogor: pse. yujiro, hayami dan kikuchi masao. 1997. dilema ekonomi pedesaan: suatu pendekatan terhadap perubahan kelembagaan di asia. jakarta: yayasan obor indonesia. zeller, manfred and manohaf shaume. 1998. rural finance and poverty alleviation food policy research institute. washington d.c. *corresponding author p-issn: 1412-1212 e-issn: 2541-2388 27 the winners, 21(1), march 2020, 27-33 doi: 10.21512/tw.v21i1.5954 optimum portfolio analysis of black-litterman model in the indonesian stock exchange on consumer goods industrial sector meilina pudjiani1*; yusman syaukat2; tony irawan3 1master of business management, school of business, ipb university 2,3faculty of economics and management, department of resource and environmental economy, ipb university jl. jl. raya dramaga, kampus ipb dramaga bogor 16680, indonesia 1meilina.p25@gmail.com; 2ysyaukat@gmail.com; 3tony.irawan82@gmail.com received: 01st september 2019/ revised: 03rd september 2019/ accepted: 06th september 2019 how to cite: pudjiani, m., syaukat, y., & irawan, t. (2020). optimum portfolio analysis of black-litterman model in the indonesian stock exchange on consumer goods industrial sector. the winners, 21(1), 27-33. https://doi.org/10.21512/tw.v21i1.5954 abstract the aim of the research was to identify the allocation of optimum portfolio formation in consumer goods sector at indonesian stock exchange from 2014 to 2018 by using black-litterman model. this quantitative research used secondary data on stock prices of the consumer goods sector on the indonesian stock exchange from january 2014 to december 2018 which was obtained from yahoo finance and the indonesia stock exchange. four stocks formed the optimum portfolio of consumer goods sector identified by using black-litterman model. those are stocks of pt indofood cbp sukses makmur tbk, pt kimia farma tbk, pt indofarma tbk, pt indofarma tbk, and pt hm sampoerna tbk. the results show that stock with the biggest proportion was icbp’s with proportion of 68,5379%. meanwhile the smallest proportion was inaf’s, which is 3,0277%. the mean return was calculated from this proportion, resulting in 3,678% while the risk value was 1,471%. keywords: optimum portfolio, black-litterman model, stock exchange, consumer good industries i. introduction the industrial sector having a significantly strategic role, especially to prosper people’s lives, is the consumer goods sector. called their products are considered necessary in consumers daily needs, such as food and beverages, medicines, equipment, and household supplies. inelastic demand level has been an advantage in this sector since it provides basic supplies, which people will not stop buying despite the increasing prices. the respondents of this research is consumer goods company since the investment in this industrial sector has good prospect in investment world development. the indonesian economy in 2015 experienced a mini economic crisis. various external and domestic challenges hit the indonesian economy. at the same time, uncertainties in the global financial markets had increased due to the expanding opportunities for united states (us) interest rates, fears of greek fiscal negotiations, and being exacerbated by the devaluation of the yuan which was not anticipated beforehand. these unfavorable global developments had a negative impact on the domestic economy, both through trade and financial channels. pressure on the domestic economy had been compounded by the remaining domestic structural problems. these challenges triggered an increase in several risks, such as high pressure on the rupiah exchange rate, a decline in the confidence of economic actors, as well as risks in the corporate sector. uncertainty on the global financial market had resulted in the depreciation of the rupiah during 2015. pressure on the rupiah had been ongoing since the first quarter, and then peaked in the third quarter of 2015. due to this, the share price in the consumer goods sector also experienced a sharp decline in the third quarter of 2015 at a price of rp 1.951,00 per share. the consumer goods sector which used to be able to survive amid economic conditions weakened by 5,75%. the sub-sectors that experienced an emphasis on the depreciation of the rupiah were the household appliances and pharmaceutical subsectors. the slowdown in financial performance, especially net income, made almost all issuers of the consumer goods sector produce negative returns (laporan keuangan indonesia, 2015). global economic growth in 2018 went slower with uneven growth between countries. the world 28 the winners, vol. 21 no. 1 march 2020, 27-33 economy recorded growth by 3,7% in 2018 which was slowing down compared to growth in 2017 by 3,8%. high global uncertainties and pressure on the balance of payments of indonesia (npi) were greatly influenced the dynamics of the rupiah exchange rate in 2018. this uncertainty was triggered by the continued increase in the federal funds rate (ffr) and global financial market uncertainties resulting in reduced inflows of foreign capital to developing countries, including indonesia. as a result, the rupiah exchange rate had been under pressure until october 2018 with the biggest pressure occurring in july 2018. depreciating pressure against the rupiah was also in line with the weakening of many other developing countries’ currencies, in line with the impact of rising global uncertainty. indonesia’s trade balance in the april period recorded a deficit in 2018 (laporan keuangan indonesia, 2018). based on the factors that influence the movement of shares in the consumer goods sector, investors who plan to invest their capital in the consumer goods sector need to be aware of sentiments that might shake stock prices. although the consumer goods sector is a defensive sector which is able to withstand economic shocks, it is not considered always true. investors need to see negative sentiment both externally and internally that leads the indonesian economy to fluctuation, such as uncertainty in the global economy, inflation, interest rates, the islam k. kabbani (ikk) index, rising gas, and electricity tariffs. the researchers assume that despite the weakening in the consumer goods sector in the third quarter of 2015 and the second quarter of 2018, investors will remain obtaining benefits by forming a stock portfolio. hence investors are able to diversify their investment risks and allocate funds to get the maximum profit. optimum portfolio is a selection of various portfolio stocks efficiently. there are some models of optimum portfolio development such as meanvariance model, capital asset pricing model (capm), and black-litterman model. the principal of mean-variance model is the quantitative approach, linking risk that is measured by standard deviation or variance, and the expected return of mean return (arulraj, pvs, & karthika, 2012). model to assess feasibility of stock investment can be done with estimation calculation by using capital asset pricing model (capm). security risk in capm model is shown with beta. beta is used as measurement tool to estimate such security’s investment risk. capm is a model that describes a systematic risk by using beta to link between risk and return (zabarankin, pavlikov, & uryasev, 2013). according to subekti (2009), blacklitterman is a portfolio-optimizing model that leads to better performance and profitable to investors as a result of the investors’ involvement, assuming that establishment of portfolio is not abandoned. black-litterman model was introduced by fisher black and robert litterman at goldman sachs in 1990. the b-l model is often referred to as a completely new portfolio model. much literature concerning the b-l model assumes a global asset allocation model, and because of this (arisena, noviyanti, & zanbar, 2018). litterman (2003) argues that the global capital asset pricing model (capm) is a good starting point for a global equilibrium model. however, the b-l model is not used only in global asset management, but also in domestic equity portfolio management and fixed income portfolio management. in such cases the equilibrium weights are easier to find by using domestic capm (mankert, 2010). the view of black-litterman model is used to adjust the expected return of equilibrium to predict future return. this model gives two possibilities in investor’s point of view, both absolute views and relative views as explained by (idzorek, 2004). black-litterman model shows the view of an investor with other investors could be different due to the view is subjective. the view is an investor’s view in asserting the predicted return towards such stock (satchell & scowcroft, 2000). due to these views differences, a portfolio of an investor will not be the same as other investors. this condition will possibly become a source of portfolio risk, or in other words, the views from one investor have influence on increasing the risk of portfolio. another research about capital market was conducted by mishra, pisipati, and vyas (2011) by comparing performance of black-litterman model and mean-variance with sectoral index stocks of bse (bombay stock exchange). the research reveals that an efficient portfolio of black-litterman achieved a better risk performance compared to meanvariance approach. ramli (2010) shows that the stock of consumer goods sector is a defensive stock. it means that when the market is inclined, the stock will also be inclined but lower than the market incline. on the contrary, when the market is declined, the stock will be declined without exceeding the market decline. meucci (2006) uses black-litterman model without assuming the distribution that underlie the consideration further non-normal view from multi-assets portfolio. the performance of asset allocation resulted is aimed to minimalize the risk efficiently. menchi (2016) formulates a synthetic indicator to evaluate the effect of investor view towards portfolio allocation based on its level of confidence. da silva, lee, and pornrojnangkool (2009) points out that black-litterman model with bayes analytical framework comes out in stronger portfolio as it has small sensitivity to incoming error in expected return. walters (2014) explains the blacklitterman model with bayes approach. ganikhodjaev and bayram (2016) has developed a new portfolio percentage (posterior) by inputting golden asset as a safe-haven asset within central bank of republic of turkey case with black-litterman model by using bayesian approach. mahrivandi, noviyanti, and setyanto (2017) has conducted a research with four bank sectors in lq-45 index by using black-litterman in non-normal return model. the result shows that level of confidence in investors’ views is significant 29optimum portfolio analysis..... (meilina pudjiani, et al.) to influence the results of target of returns and risks of the black-litterman portfolio model. a higher level of trust from the view of investors will not only result in a higher return target, but also lead to higher risks as well. of the nine sector stock indexes on the idx, the research focuses on the consumption sector. this is based on a sector that is better than other sectors and is always needed by financial managers or investors as an investment option. meanwhile, the consumer goods sector became the second largest sector contributing to the rise in the composite stock price index (cspi). in compiling portfolios, what should be considered is an analysis of investment appraisals and investor accuracy in making optimal portfolios. in addition, no one has yet undertaken a portfolio analysis of blacklitterman’s optimal model and risk in the consumer goods sector. based on the problem that has been described above, the purpose of this research is to identify the optimal portfolio formation allocation and expected return value in the consumer goods sector on the idx for 60 months (2014-2018) using the black-litterman model. the research is expected to provide benefits to investors as a guide in making optimal portfolio investment decisions and understand the level of risk that will be borne in investing in the consumer goods industry sector. ii. methods at the beginning of the research, the selection of shares joined in the consumer goods sector for five years in a row began in january 2014 to december 2018. the selection of listed companies using purposive sampling was then carried out data collection for the process of forming a portfolio using the black-litterman model approach. black-literrman model with mean based on 60-month and 12-month return data. the research framework in this research focuses on analyzing the return of the consumer goods sector and identifying the optimal portfolio formation in the idx consumer goods sector by using the blacklitterman model in the 2014-2018 period with the expected return from the capm calculation results. through these two methods, it is expected to provide optimal portfolio formation. this is a quantitative research by using secondary data on stock prices of the consumer goods sector on the indonesian stock exchange from january 2014 to december 2018 based on yahoo finance and the indonesia stock exchange. the sampling method uses purposive sampling researchers have determined sample criteria, namely issuers who were in the consumer goods sector from january 2014 to december 2018. the type of data used is secondary data. these include daily closing stock price data and sbi interest rate data. the total issuers examined in this research are 23 in the consumer goods sector during the research period. they are shown in table 1. table 1 the consumer goods sector subsector company cosmetics and household purposes tcid, unvr food and beverages alto, ceka, icbp, indf, mlbi, myor, psdn, roti, sklt, ultj household appliances kici, lmpi pharmacy dvla, inaf, kaef, klbf, pyfa, sido cigarettes ggrm, hmsp, rmba the return on individual shares is income received in the form of dividends or income from changes in market prices of stock trading transactions that are calculated within one month (jogiyanto, 2013). the formula used to calculate the returns on individual stocks is as follows: (1) the capital asset pricing model (capm) is based on the markowitz model–which each investor assumes–will diversify their portfolio and choose the optimal portfolio based on preference for return and risk (tandelilin, 2010). in general, the formation of a capm portfolio is based on the following equation: e(ri) = rbr + βi [e (rm) – rbr] (2) the black-litterman model is used to estimate inputs for portfolio optimization. this model combines two types of estimates, namely historical data on equilibrium conditions and investors’ views to update the estimation results. arisena, noviyanti and zanbar (2018) argue that the advantage of the blacklitterman model is that the investors are allowed to combine views in both assets and relative terms with preceding estimates, and to produce new posterior estimates that cover all displays. the black litterman model combines investor views with equilibrium returns achieved through the capm to generate new portfolio returns. the value of views is determined by the views of investors. the views given by investors to selected assets remain to have uncertainty, so they must be measured through confidence levels. investors’ views are formed by using previous stock price data assistance, so absolute views and relative views can be formed as follows: views 1 : “i predict indf shares will give a return of 1,5% “ views 2 : “i predict ggrm shares will give a return of 1,6%” 30 the winners, vol. 21 no. 1 march 2020, 27-33 views 3 : “i predict icbp shares will give a return of 5%” views 4 : “i predict inaf shares will give a return of 1,8%” views 5 : “i predict hmsp shares will give a return of 3%” relative views views 6 : “i predict kaef shares will return 1,2% more than roti shares” therefore, q can be formed as a view vector: (3) the variance of each error is expressed in the new matrix. diagonal in the matrix shows covariance between views. the matrix will contribute significantly to the final calculation of the expected return of blacklitterman. before heading to the final expected return calculation, the researchers previously discussed the matrix coefficient p. p is the matrix of k and n, where k denotes investor views and n shows the number of assets in the portfolio (idzorek, 2004): (4) the black-litterman model, which is started with the equilibrium return achieved by capm, let the investors combine several assets with the investment views. the investors’ confidence level is an error vector showing that investors’ views remain uncertain and assumed as normally distributed. this confidence level is stated on diagonal ω matrix (covariance of views) as follows (idzorek, 2004): ω = τ p ∑ p’ (5) to calculate market equilibrium prices, risk coefficient is required with the following equation: δ = e (rm)rf (6) to calculate the equilibrium excess return, the following equation can be used: ∏ = δ∑wm (7) in developing the black-litterman model, it involves two types of information obtained from different sources; (1) equilibrium expected return of capm and investor views and (2) combination of return equilibrium and investors’ views based on black-litterman model theorem (salomons, 2007). it can be stated as black-litterman optimum portfolio calculation: e (r) = [(τ∑)-1+ p’ ω-1 p]-1 [(τ∑)-1 ∏+ p’ ω-1 q] = μbl (8) the weighting of black-litterman model is calculated using the mean-variance model by minimizing the risk with a certain return. the following is equation for black-litterman weighting. wb=(δs) -1 μbl (9) the formula to calculate the expected return from the portfolio is: e (𝑅𝑃)=σ𝑊𝑖 𝐸 (𝑅𝑖)𝑛𝑖 (10) iii. results and discussions as the sample of the research, stocks in the consumer goods sector with positive mean return are used to calculate the expected return of the capm model. this model uses beta to link the risk and return together. the risk of each asset is expressed with covariance return from each stock with market return. beta is a measure of return volatility of a security or portfolio return towards market return (jogiyanto, 2013). beta shows the size of stocks return confidence towards market change. it can also be interpreted as stocks risk size; the bigger the value is, the bigger the risk within a stock. beta with score more than one means that the return of certain stock is sensitive to all market changes. issuers with beta score more than one are indf and ggrm. besides, there are some samples with beta value of less than one which means that its stock return is less sensitive than market fluctuation. issuers having risk measure less than one are icbp, kaef, inaf, hmsp, roti, sido, ceka, myor, klbf, lmpi, ultj, invr, rmba, mlbi, kici, sklt, dvla, psdn, tcid, pyfa, and alto. after the values of the cpam model expected return from each issuer are obtained, a portfolio would be developed using seven issuers with the highest expected return. stocks with the highest expected return are selected since the black-litterman model would use those values of capm expected return to develop the optimum portfolio. the significance level of kolmogorov-smirnov test above is 0,05 and the data are normally distributed (see table 3). the stocks that would have been used in black-litterman model portfolio calculation are seven stocks with the highest expected return from capm model. the black-litterman model combines the investors’ views and equilibrium return through capm, and then a new portfolio return comes out as a result. 31optimum portfolio analysis..... (meilina pudjiani, et al.) the expected return value of black-litterman model can be calculated after information on the capm equilibrium return and investors return are fulfilled. the calculation of the weight or proportion of funds for each stock is influenced by the covariance value and the expected black-litterman return value (table 4). since some portfolios have negative results, it is necessary to do another round of selecting the optimum portfolio. after the re-selection is conducted, the latest optimal portfolio results can be seen in table 4. stocks with largest proportion was icbp stocks with the proportion of 68,5379%, meanwhile the smallest one was stocks of inaf with the proportion of 3,0277%. from this proportion, the mean return and risk of black-litterman portfolio are to be calculated. table 2 risk and expected return of capm number companies code risk (βi) ecapm 1 pt indofood sukses makmur tbk indf 1,24652 0,000387 2 pt gudang garam tbk ggrm 1,06516 0,000342 3 pt indofood cbp sukses makmur tbk icbp 0,97263 0,000319 4 pt kimia farma tbk kaef 0,89731 0,000301 5 pt indofarma tbk inaf 0,77979 0,000272 6 pt hm sampoerna tbk hmsp 0,75727 0,000266 7 pt nippon sari corporindo tbk roti 0,62522 0,000233 8 industri jamu dan farmasi sido muncul sido 0,54641 0,000214 9 pt wilmar cahaya indonesia tbk ceka 0,48650 0,000198 10 pt mayora indah tbk myor 0,44089 0,000187 11 pt kalbe farma tbk klbf 0,43169 0,000185 12 pt langgeng makmur industri tbk lmpi 0,31880 0,000157 13 pt ultrajaya milk industry ultj 0,27720 0,000147 14 pt unilever indonesia tbk unvr 0,24913 0,000139 15 pt bentoel internasional investama tbk rmba 0,24559 0,000138 16 pt multi bintang indonesia tbk mlbi 0,17999 0,000122 17 pt kedaung indah can tbk kici 0,14803 0,000114 18 pt sekar laut tbk sklt 0,13438 0,000111 19 pt darya-varia laboratoria tbk dvla 0,12421 0,000109 20 pt prashida aneka niaga tbk psdn 0,09472 0,000101 21 pt mandom indonesia tbk tcid 0,06502 0,000094 22 pt pyridam farma tbk pyfa 0,02402 0,000084 23 pt tri banyan tirta tbk alto -0,03469 0,000069 table 3 normality of kolomogorov-smirnov test one-sample kolmogorov-smirnov test expected return capm n 23 normal parametersa,b mean 0,005091391 std. deviation 0,0000253611 most extreme differences absolute 0,178 positive 0,099 negative -0,178 kolmogorov-smirnov z 0,994 asymp. sig. (2-tailed) 0,277 a. test distribution is normal b. calculated from data 32 the winners, vol. 21 no. 1 march 2020, 27-33 portfolio return describes the level of profit which is obtained from the formed portfolio. portfolio with stocks formation components in table 5 result in mean return values by 3,678% and the risk by 1,471%. by using black-litterman model, four stocks that formed the optimum portfolio of consumer goods sector are drawn to be the result. they are stocks of pt indofood cbp sukses makmur tbk, pt kimia farma tbk, pt indofarma tbk, and pt hm sampoerna tbk. the higher the expected return is, the higher the risk will be. on the black-litterman model, the risk value is quite high. high risk is caused by assumption where black-litterman model is a subjective portfolio model depending on investors views. new efficiencies can be obtained by comparing the profits obtained with the assets or capital that produced these profits by calculating profitability. profitability ratios are to gain company excellence in seeking and to provide a measure of the level of management of a company. the profit ratio becomes a benchmark and consideration for investors in investing their capital since profitability indicates whether the company has good expectations in the future. however, it is not an absolute statement that the value of profitability is the return that investors will obtain. it should be kept in mind stock prices might come out different every month to be weaker or soar. the black-litterman model is not only to allocate equity, but also to allocate bonds and currency. investing in more asset classes is desirable as it gives the possibility to combine the characteristics of both classes. besides it gives an extensive option of assets which in turn multiplies the possibilities for diversification, and thus reducing risk. furthermore, as a global allocation model, it becomes possible to diversify even more. unfortunately, it also opens the investors up to a new source of risk, namely the exchange risk. the investment in a foreign asset may perform well, but if the exchange rate of the currency drops relative to the domestic currency, a substantial loss on the investment may occur (salomons, 2007). iv. conclusions the black-litterman model as one of the portfolio optimization models results in better and profitable performance for an investor due to the involvement of investor opinion in deciding the weight of the assets in the portfolio forms is not neglected. the advantages of black-litterman model make efficient integration of investor knowledge into asset allocation. the black-litterman model with bayes approach uses investor views as prior information. the views of black-litterman model are used to finish the equilibrium of expected return to predict future return. by using the black-litterman model, four stocks that form the optimum portfolio of consumer goods sector finally come out as a result. the portfolio with four components that form stocks in the indonesian stock exchange from consumer goods sector results in mean return by 3,678 and the risk by 1,471%. managerial implications of this research are intended for investors in the consumer goods sector. the optimal portfolio in this research is suitable for risk-averse investors since the level of risk generated turns out to be low. although the researchers can examine the black-litterman with elliptical distributions–in which the capm holds are used as long as return distributions are elliptical–certain limitations might appear and table 4 black-litterman portfolio company variance expected return bl weight (%) indf 0,000336 0,015087 -0,1285 ggrm 0,000378 0,016358 -1,9331 icbp 0,000288 0,040664 72,3818 kaef 0,001004 0,017173 3,7861 inaf 0,002080 0,015059 3,1976 hmsp 0,000349 0,025927 26,2429 roti 0,000351 0,007271 -3,5467 table 5 black-litterman optimal portfolio company variance expected return bl weight (%) return portfolio profitability (%) icbp 0,000288 0,040664 68,53 0,027870 2,519 kaef 0,001004 0,017173 3,58 0,000615 0,012 inaf 0,002080 0,015059 3,03 0,000455 0,007 hmsp 0,000349 0,025927 24,85 0,006442 0,458 total 2,994 33optimum portfolio analysis..... (meilina pudjiani, et al.) become additional avenues of research. it would be interesting to apply the black–litterman approach the conditional value-at-risk (cvar) as the risk measure, and to apply the black–litterman approach to different sectors in idx. it would be worth revisiting the robust model within the framework of factors models. references arisena, a., noviyanti, l., & zanbar, s. a. (2018). portfolio return using black-litterman single view model with arma-garch and treynor black model. journal of physics: conference series, 974(1), 12–23. arulraj, m., pvs, m., & karthika, r. (2012). global portfolio optimization for bse sensex using the enhanced black-litterman model. procedia engineering, 38, 2987–2997. da silva, a. s., lee, w., & pornrojnangkool, b. (2009). the black-litterman model for active portfolio management. the journal of portfolio management, 35(2), 61–71. ganikhodjaev, n., & bayram, k. (2016). the blacklitterman model in central bank practice: study for turkish central bank. malaysian journal of mathematical sciences, 10(s), 193–203. idzorek, t. (2007). a step by step guide to the blacklitterman model: incorporating user-specified confidence levels. in s. satchell (ed.). forecasting expected returns in the financial (pp.17-38). elsevier. jogiyanto, h. (2013). teori portofolio dan analisis investasi edisi kelima. yogyakarta, id: bpef. laporan keuangan indonesia. (2015). laporan tahunan bank indonesia tahun 2015. retrieved july 5th, 2019 from https://www.bi.go.id/id/publikasi/laporantahunan/bi/pages/lktbi-2015.aspx. laporan keuangan indonesia. (2018). laporan tahunan bank indonesia tahun 2018. retrieved july 5th, 2019 from https://www.bi.go.id/id/publikasi/laporantahunan/bi/pages/lktbi-2018.aspx. litterman, b. (2003). global equilibrium expected returns in modern investment management: an equilibrium approach (pp. 55–75). new jersey, usa: wiley. mahrivandi, r., noviyanti, l., & setyanto, g. r. (2017). black-litterman model on non-normal stock return (case study four banks at lq-45 stock index). aip conference proceedings, 1827(1), 20013. mankert, c. (2010). the black-litterman model mathematical and behavioral finance approaches towards its use in practice (doctoral thesis). royal institute of technology, stockholm (se). menchi, m. (2016). black litterman for non-normal markets: focus on view’s confidence level and performance (masters’s thesis). luiss guido carli university, rome (it). meucci, a. (2006). beyond black-litterman in practice: a five-step recipe to input views on non-normal markets. risk journal, 19, 87–92. mishra, a. k., pisipati, s., & vyas, i. (2011). an equilibrium approach for tactical asset allocation: assessing black-litterman model to indian stock market. journal of economics and international finance, 3(10), 553–563. ramli, a. (2010). risk dan return saham perusahaan industri barang konsumsi di bursa efek indonesia. jurnal aplikasi manajemen, 8(4), 1090–1097. salomons, a. (2007). the black-litterman model hype or improvement? (master’s thesis). the university of groningen. satchell, s., & scowcroft, a. (2000). a demystification of the black-litterman model: managing quantitative and traditional portfolio construction. journal of asset management, 1(2), 138–150. subekti, r. (2009). keunikan model black litterman dalam pembentukan portofolio. prosiding seminar nasional matematika jurusan matematika uny. yogyakarta. tandelilin, e. (2010). portofolio dan investasi: teori dan aplikasi edisi pertama. yogyakarta, id: kanisius. walters, j. (2014). the black-litterman model in detail. ssrn. http://dx.doi.org/ 10.2139/ssrn.1314585 zabarankin, m., pavlikov, k., & uryasev, s. (2013). capital asset pricing model (capm) with drawdown measure. european journal of operational research, 234(2), 508–517. *corresponding author p-issn: 1412-1212 e-issn: 2541-2388 123 the winners, 22(2), september 2021, 123-136 doi: 10.21512/tw.v22i2.7056 risk and supply chain mitigation analysis using house of risk method and analytical network process shelvy kurniawan1*; denny marzuky2; rio ryanto3; vanny agustine4 1,2,3,4 management department, binus business school undergraduate program, bina nusantara university jl. kebon jeruk raya no. 27, kebon jeruk, jakarta 11530, indonesia 1shelvy.kurniawan001@binus.ac.id; 2dennymarzuky1997@gmail.com; 3rioryanto9@gmail.com; 4vanny.agustine28@gmail.com received: 12th february 2021/ revised: 07th june 2021/ accepted: 07th june 2021 how to cite: kurniawan, s., marzuky, d., ryanto, r., & agustine, v. (2021). risk and supply chain mitigation analysis using house of risk method and analytical network process. the winners, 22(2), 123-136. https://doi.org/10.21512/tw.v22i2.7056 abstract the research studied pt xyz, a company engaged in the palm oil industry which has eleven subsidiaries spread across five provinces in indonesia. the research focused on analyzing supply chain risks in pt a, a subsidiary of pt xyz. the objective was to find out and reduce unexpected costs that the company may experience caused by the risks in supply chain. furthermore, the aim was to determine priority of risk agents and risk mitigation actions. the research method was a mixed methods, which combined both qualitative and quantitative analysis to answer the research questions. data analysis procedure involved supply chain operations reference (scor), house of risk (hor) 1, and analytic network process (anp). the scor method was used for mapping supply chain activities, the hor 1 was to determine the priority of the risk agent, and the anp was to determine the priority of mitigation actions. the results show that there are 36 risk events and 35 risk agents. 19 risk agents are categorized as priority risks and 11 preventive actions are proposed to be implemented by pt xyz. the research suggests that the company implement mitigation actions according to priority in accordance with the research results. keywords: risk analysis, supply chain analysis, mitigation analysis, house of risk (hor), analytical network process (anp) i. introduction competition in the current era of globalization is very high. this can be seen from the number of companies that have emerged, developed, grown, and competed in their respective fields. based on data from the central statistics agency, the number of companies in indonesia was recorded at 26,7 million in 2016 (agustinus, 2017). this figure increased by 3,98 million when compared to the number of companies in 2006. with intense competition, companies must be able to maintain busines processes and provide their best products or services. companies strive to manage risk, handle unexpected disruptions, and improve performance in an uncertain and changing business environment (munir et al., 2020). furthermore the company is facing a higher risk in terms of supply disruptions, production, delivery delays, etc. which in turn results in lost reputation, lost sales, and bad financial performance (sreedevi & saranga, 2017). an understanding of how to comprehensively mitigate and respond to supply chain risk reveals additional research challenges in supply chain management (kilubi, 2016). in order to remain competitive in supply chain ecosystem, one way is to pay attention to supply chain management. the supply chain ecosystem is the network environment in which the system operate (macdonald et al., 2018). supply chain management includes all movement and storage of raw materials, work in process inventory, and finished goods from point of origin to point of consumption (mavi et al., 2016). the supply chain is to add value to the product by moving it from one location to another, or by carrying out a process of changing it (setiadi, nurmalina, & suharno, 2018). regarding the risks in supply chain, supply chain risk management includes a wide variety of strategies aimed at identifying, assessing, mitigating, and monitoring unforeseen events that may have an impact, mostly adversely, on any part of the supply chain (baryannis et al., 2019). at a strategic level when dealing with supply chain management, it can guide the company 124 the winners, vol. 22 no. 2 september 2021, 123-136 in redesigning its corporate culture, processes, organizational structure among others and recognizing the general impact of supply chain management on business performance (min, zacharia, & smith, 2019). related to supply chain management, currently companies are increasingly responsible for the environmental, social and economic outcomes caused by their internal operations and by the operations of their suppliers (koberg & longoni, 2019). in the supply chain, there are various risks that may occur. based on australian new zealand standard in (anggrahini, karningsih, & sulistiyono, 2015) risk is an unexpected effect of a certain goal. risk itself is often defined as a function of the probability and consequences of an uncertain outcome (boonyanusith & jittamai, 2019). many companies increase their exposure to risk by having partners in business critical position in their supply chain (finch, 2004). according to elvandra, maarif, & sukardi (2018) supply chain risk is all risks from the flow of information, materials, and products or disruption caused by the complexity of the company's relationship with external parties. supply chain risk management is done through coordination or collaboration among supply chain partners to ensure profitability and continuity (tang, 2006), while attempts to assess risk accurately across organizational boundaries are hindered by the absence of a consistent set of risk metrics (shi, 2004). pt xyz is a company engaged in the palm oil industry and has eleven subsidiaries spread across five provinces in indonesia, namely north kalimantan, west kalimantan, east kalimantan, central kalimantan, and south sumatra. pt xyz was found in 2016. for approximately 3 years since its establishment, it is known that pt xyz has never evaluated its supply chain process. in carrying out its supply chain activities, this company often experiences problems from the procurement, production, to delivery processes. in the research, supply chain analysis was focused on pt a, a subsidiary of pt xyz which is located in the province of central kalimantan as presented in table 1. a supplier is a company or individual capable of providing resources, either in the form of goods or services needed by other companies (viarani & zadry, 2015). currently, pt a has local and foreign suppliers. suppliers who work with the company are suppliers for raw materials or materials used in plantation and factory operations. pt a is also working with local palm oil companies to supply fresh fruit bunches (ffb) to increase crude palm oil (cpo) and palm kernel (pk) production to match the supply demands of other companies. this business model can also be called b2b (business to business), a term used for commercial transactions between business people. delivery is the process of distributing finished goods and services to meet consumer needs. this process includes order management, warehouse management such as product packaging according to company procedures, transportation management such as making deliveries with the right and on time transportation to meet planned needs (putradi, 2017). for cpo produced by pt a, the company uses a third party service as a barge provider to load and deliver cpo to consumers in batam, riau islands. meanwhile, for pk produced by pt a, the company uses its own truck units to be sent to consumers in the south kalimantan area. for now, pt a has collaborated with several suppliers, including fertilizer suppliers, chemical suppliers (pest exterminators), and ffb suppliers. the problem that often occurs related to supplier operations to pt a is the problem of late delivery of the ordered materials as presented in table 2. table 3 shows that the data on fruit production and outside fruit acceptance (suppliers) in 2017 and table 1 comparison of pt xyz group subsidiary data pt xyz group pt estate mill afdeling area (ha) number of employees pt a 4 2 28 17.469 3.397 pt b 4 2 22 12.166 2.848 pt c 2 0 8 7.640 972 pt d 2 1 11 5.999 881 pt e 1 1 8 5.929 844 pt f 1 1 8 5.925 803 pt g 1 0 9 4.713 619 pt h 1 1 6 4.217 573 pt i 2 1 6 4.009 489 pt j 1 0 6 3.648 422 pt k 1 1 5 3.559 407 sumber : pt xyz (2019) 125risk and supply chain mitigation.... (shelvy kurniawan, et al.) 2018 did not reach the capacity set by the company. in 2017, the achievement of fruit capacity was 84,69%, which then decreased to 83,31% in 2018. the fruit achievements described have an impact on pt a's annual cpo and kernel production. in table 4, it can be seen that the achievement of cpo oil production in 2017 was only 80,66% and kernel 80,53%. in 2018, the achievement of cpo production decreased to 78,60% and kernel dropped to 78,29%. apart from being caused by the large number of fruit being processed, the achievement of this oil production is also caused by several factors such as the level of fruit maturity, machine breakdowns, and human negligence in the process. these achievements have indirectly impacted the process of sending cpo to consumers in batam, riau islands and kernel areas to consumers in the south kalimantan area. as seen in table 5, for cpo shipments, there are 2 delays out of a total of 7 shipments in 2017 and 2 times a delay out of a total of 8 shipments in 2018. for kernel shipments, there are 4 times the delay out of a total of 35 shipments in 2017 and 6 times delays out of a total of 36 shipments in 2018. one of the reasons for this delay is the lack of cpo and kernel produced by pt a in a certain period, so they have to wait a few days later to reach the quantity ordered by consumers. other factors that can impact delivery delays include engine breakdowns at factories, vehicle unit breakdowns, negligence in the oil processing process, and weather for distribution. the delay in delivery is one of the factors causing product damage that is sent to consumers of each product. table 6 provides data on damaged products sent by pt a in the period january 2017 to december 2018. in accordance with company policy, products that have been damaged will not be taken back by the company, and payment regulations are only made for products that are in good condition. companies need to realize the importance of building a good supply chain network to prevent risks that can reduce company revenues. therefore, steps that can be taken by pt a is to evaluate supply chain performance from the starting point of planning to consumers and assess whether the performance of the supply chain currently implemented is effective and efficient so that the company's competitiveness can be improved. anggrahini et al. (2015) examine problems in the supply chain of frozen shrimp products. the research uses the supply chain operations reference (scor) and house of risk (hor) methods. the results shows there are 41 risk events and 52 risk agents, 11 of which are categorized as priority risks and 12 mitigation actions are proposed to be implemented. ratnasari, hisjam, and sutopo (2018) examine problems in the supply chain of printing companies. this study uses table 2 data on pt a material receipts for the period jan 2017 dec 2018 type of goods total receipts number of late receipts percentage of late receipts fertilizer 91 22 24,18% chemical 15 4 26,67% outer ffb 243 31 12,76% source: pt xyz (2019) table 3 data of production and receipt of pt a fruit for 2017 2018 2017 2018 actual (ton) target (ton) target achievement actual (ton) target (ton) target achievement core fruit 136.688,14 164.273 83,21% 145.936 179.188 81,44% outer fruit 40.798,19 45.291 90,08% 45.332,23 50.388 89,97% total 177.486 209.564 84,69% 191.268 229.576 83,31% source: pt xyz (2019) table 4 pt a's cpo and kernel production 2017 2018 cpo production at pt a (ton) kernel production at pt a (ton) actual (ton) target (ton) target achievement actual (ton) target (ton) target achievement 2017 39.721,44 49.247,54 80,66% 5.360,09 6.655,74 80,53% 2018 42.404,17 53.950,36 78,60% 6.139,71 7.842,00 78,29% source: pt xyz (2019) 126 the winners, vol. 22 no. 2 september 2021, 123-136 the scor and hor methods. the results contains 24 risk events and 20 risk agents, two of which are categorized as priority risks and 9 mitigation actions are proposed to be implemented. the hor model is based on the proactive assumption that supply chain risk management should try to focus on preventive measures, namely reducing the possibility of risk agents and models capable of determining which risk agents have the greatest potential to cause risk events (hartono, christiani, & lasiman, 2018). furthermore, according to chotimah, purwanggono, and susanty (2017), the scor model includes an assessment of delivery and demand fulfillment performance, inventory and asset management, production flexibility, warranties, process costs, and other factors that affect the overall performance assessment of a supply chain. according to apics, the framework of scor model is divided into plan, source, make, deliver, return, and enable (ben-daya, hassini, & bahroun, 2017). ramadhani and baihaqi (2018) analyze the correlation relationship by combining two methods, namely the analytic network process (anp) and house of risk (hor) methods. the end result of the two methods finds that there are 30 causes or sources of risk and 13 critical risks that have 28 risk management strategies with 15 priority strategies that can be implemented by the company. ratnasari et al. (2018) map risks in printing companies and formulate risk mitigation alternatives to reduce risk. hor method is chosen to select a series of proactive actions that are considered cost-effective in managing supply chain risk in newspaper companies. laksmita and widodo (2018) use house of risk method to mitigate risks and successfully identify four priority risks, namely a8 (car problems), a4 (human error), a3 (error deposits through banks and underpayments), and a6 (past accidents cross) that must be reduced. the initial stage carried out is mapping supply chain activities. the mapping of supply chain activities at pt a is obtained by conducting interviews with related parties in the company. the interview is held directly to the operations and budgeting senior manager of pt xyz who is an expert in the field of operations at pt xyz. questionnaires are filled out by respondents at pt a who have the biggest role or responsibility related to the operations of pt a company, namely the general manager of the central kalimantan region. next, pt a's supply chain activities are mapped in the scor model. scor is an approach method for measuring the performance of a supply chain developed by the scc (supply chain council), which was formed in 1996 (putradi, 2017). scor method is used since this method can classify supply chain activities into five processes, namely plan (planning process), source (procurement process), make (production process), deliver (delivery process), and return (return process) so that activity mapping can be made more structured. the scor model is very effective as a frame of reference for identifying supply chain performance metrics in five important activities in supply chain management (kusmantini, guritno, & rustamaji, 2015). the next stage is the data processing stage which includes risk analysis. in data processing, there are several methods such as failure mode and effect analysis (fmea) and hor. fmea is a structured procedure to identify and prevent as many failure modes as possible. from the mapping of supply chain activities using the scor method, brainstorming is carried out to find out various forms of risk events that occur. fmea has widely used techniques to identify and eliminate potential failures to improve system security and reliability (ghadge et al., 2017). after that, the risk assessment is calculated through the calculation of the risk priority number (rpn) obtained from table 5 cpo and kernel delivery data for the 2017 2018 period cpo kernel delivery frequency late delivery frequency percentage of late shipments delivery frequency late delivery frequency percentage of late shipments 2017 7 2 28,57% 35 4 11,43% 2018 8 2 25,00% 36 6 16,67% source: pt xyz (2019) table 6 data on products received by consumers in 2017 2018 tahun cpo kernel quantity delivered (ton) quantity rejected (ton) quantity accepted (%) quantity delivered (ton) quantity rejected (ton) quantity accepted (%) 2017 38.300 2.849 92,56% 5.292 244 95,39% 2018 43.700 4.107 90,60% 6.070 371 93,89% source: pt xyz (2019) 127risk and supply chain mitigation.... (shelvy kurniawan, et al.) multiplying three factors, namely the level of damage produced (severity), the probability of risk occurrence (occurrence), and the level of possibility of detection (detection) for each risk event and prioritizing risky events that require further treatment (hapsari, 2018). meanwhile, the hor method according to pujawan and geraldin in putri (2017) is a modification of the house of quality (hoq) and failure mode and effects analysis (fmea) methods to compile a framework for managing supply chain risk. in hor method, a risk agent that has a high aggregate risk potential (arp) is selected, which means that the risk agent has a high probability of events and causes many risk events with severe impacts. then, mitigation actions are prepared for selected risk agents based on the ratio of total effectiveness for the level of difficulty and mitigation actions that can reduce many risk agents with high arp values (cahyani, pribadi, & baihaqi, 2016). brainstorming with the company is carried out to examine risky events that occur. in contrast to the fmea method, the hor 1 method calculates arp which is obtained from three factors, namely the level of risk source probability, the impact of damage to risk events, and the level of relationship between risk events and risk sources. one risk agent can induce multiple risk events, and vice versa, thus the hor 1 method is chosen since it is considered more effective than the fmea method by considering the level of the relationship between risk events and risk agents. after the risk analysis stage, the next stage is the risk management stage by looking for mitigation action priorities. in this stage, there are several methods such as hor 2, analytical hierarchy process (ahp), and analytical network process (anp). the hor 2 method is used for taking effective action to reduce the probability of a risk agent (putri, 2017). in the hor 2 method, the calculation of the ratio of effectiveness to level of difficulty is based on three factors, namely the level of effectiveness of mitigation actions, the level of difficulty to be implemented, and the level of relationship between risk agents and mitigation actions using ahp. thomas l. saaty engineered a major breakthrough in the 1970s by formulating the ahp (baffoe, 2019; chan, sun, & chung, 2019). it is a method for making a sequence of alternative decisions and selecting the best alternative. the ahp method solves complex problem structures by dividing the parts into a hierarchy. processing is carried out with a pairwise comparison matrix (sasongko, astuti, & maharani, 2017). another method that can be implemented at this stage is anp method, which is the development of ahp for dependence feedback cases and generalizes to the supermatrix approach. it also allows interaction and feedback within clusters (inner dependence) and between clusters (outer dependence) for decision making (adams & saaty, 2016). anp is a generalization of the ahp, by considering the dependence between elements of the hierarchy. many decision problems cannot be structured hierarchically since they involve the interaction and dependence of higher level elements in the hierarchy at lower level elements (kusnadi, surarso, & syafei, 2016). similar with ahp method, the anp method also performs processing with a pairwise comparison matrix between criteria and alternatives. the anp method is able to improve ahp's weaknesses in the form of the ability to accommodate linkages between criteria or alternatives (pungkasanti & handayani, 2017). the anp method is also superior when compared to the hor 2 method since the anp method can adjust the number of assessment criteria for alternatives according to the research needs. thus, the anp method is chosen for the research as it provides a clearer and more detailed description of the implementation compared to the hor 2 and ahp methods. analyzing supply chain performance using the hor and anp methods is needed to be able to provide solutions that can improve supply chain performance. the objectives of research are: 1) to identify risk events that have the potential to disrupt supply chain activities, 2) to determine the causes of risk (risk agent) that most influence the supply chain process by calculating the value of arp, and 3) to determine the best strategy of mitigation (preventive action) carried out by pt xyz, especially in the supply chain, to minimize risk by using the anp method. ii. methods the research applies mixed methods which aim to answer research questions that cannot be answered with qualitative or quantitative methods alone. mixed methods research focuses on collecting, analyzing, and combining both quantitative and qualitative data in a single study or a series of studies (sekaran & bougie, 2016). this type of research is a descriptive research. descriptive research is research whose aim is to obtain data that describes events to make systematic, factual descriptions or descriptions of facts and relationships between the phenomena being investigated to produce recommendations for future needs (sekaran & bougie, 2016). the research is conducted by means of interviews and also distributing questionnaires to sources who best understand the company's supply chain. interviews are conducted to determine the supply chain process series and also to analyze the risks that may occur in the supply chain process using the scor method. results of the interviews shows that there are 36 risk events and 35 risk agents in the entire supply chain process. the questionnaire is distributed to one person who is considered to have the most responsibility for the operations of pt a. the first questionnaire is conducted to see how the severity of risk events and risk agent incidence rates and the level of relationship between risk events and risk agents. the results of the first questionnaire are processed using the hor phase 1 method to find the impact resulting from each risk based on the arp value. after the arp value is obtained, the process continues to rank the risks from 128 the winners, vol. 22 no. 2 september 2021, 123-136 the highest to the lowest arp and divide these risks into 2 categories, which are priority and non-priority. of the 35 risk agents, 19 are categorized as priority risk and 16 of them are categorized as non-priority risk. next step is to design or propose mitigation actions against the 19 priority risks. based on the results of the discussion, 11 mitigation actions and 3 assessment criteria are obtained, namely the level of difficulty, effectiveness, and cost, which are compiled into a second questionnaire. the second questionnaire is conducted to see how the proposed criteria and alternatives are related. the results of the second questionnaire are processed using the anp method and the help of the super decision software v 2.10 application to see the priority order of the proposed mitigation actions. the research is expected to become a consideration or evaluation for the company to implement the research results in the form of a priority order of the proposed mitigation actions and apply the methods in the research in the future. iii. results and discussions from the results of interviews and activity mapping using the scor method, there are 36 risk events and 35 risk agents. risk events are those that can disrupt supply chain activities at a company. risk events are obtained from interviews with pt xyz which are then coded using the letter e to facilitate further reading. company risk events can be seen in table 7. risk agents are things that can cause a risk event to occur so that it can disrupt supply chain activities at the company. the risk agent is obtained from the results of the interview which are then coded using the letter a which aims to facilitate further reading. the company's risk agent can be seen in table 8. these risks are processed into a questionnaire to determine the severity of risk events, risk agent incidence rates, and the relationship between risk events and risk agents. the results of the questionnaire are then processed using the hor phase 1 method, and the risk order is obtained based on the highest to lowest arp value as presented in table 9. table 9 shows the order of risks based on the arp value. these risks are categorized into two categories, namely priority and non-priority with the application of the pareto theory. risk agents that have an influence of 80% are categorized as priority risks and the result is 19 risks, while the rest are categorized as non-priority risks. of the 19 prioritized risk agents, 11 mitigation actions are proposed to reduce the level of risk events in table 10. table 7 risk events at pt xyz activity sub-activity risk event code plan demand forecasting improper forecasting of the number of requests e1 material planning gap between recorded and available stock e2 production planning sudden change in production plans e3 shipping planning product delivery plan error e4 adjustment of human resources to supply chain requirements incompatibility of existing resources with supply chain needs e5 source supplier selection improper supply ability e6 the price offered exceeds the company budget e7 scheduling product delivery from suppliers late delivery of products from suppliers e8 products damaged in transit e9 sudden need for goods e10 product acceptance uneven maturity of ffb e11 the number of products received did not match the agreement e12 lack of transport manpower on the day concerned e13 quality checks the quality of the product received is not up to standard e14 there is damage to the product packaging e15 product storage product damage while in warehouse e16 inadequate warehouse capacity e17 product payment there is a price change from the agreed price e18 the company's inability to pay for the product e19 make production scheduling mistakes in making a production plan e20 129risk and supply chain mitigation.... (shelvy kurniawan, et al.) activity sub-activity risk event code production process insufficient amount of raw material e21 the quality of the fruit produced is not up to standard e22 unfulfilled fruit production targets e23 damage to factory machines e24 unfulfilled oil production targets e25 product quality check the quality of the oil does not match the existing standards e26 product storage oil quality deteriorates in storage e27 there is a leak in the oil storage area e28 deliver unit preparation less / unavailable transportation e29 product delivery late delivery of products e30 unit accident during delivery e31 product acceptance the number of products sent did not match the agreement e32 the quality of the products shipped has decreased e33 product payment late payment from consumers e34 the nominal paid does not match e35 return return of defective products to suppliers late arrival of product replacement from suppliers e36 source: pt xyz (2019) table 8 risk agent in pt xyz risk agent code forecasting that does not pay attention to external factors a1 seasonal factor a2 information and communication errors a3 error in supplier selection a4 there was damage to the transportation unit / machine a5 bad weather a6 the transport truck has an accident on the way a7 there is a sudden demand from consumers a8 the occurrence of damage to goods in the warehouse a9 workers only pursue daily targets regardless of the level of fruit maturity a10 error in harvesting fruit a11 lack of attention to essential oil palm care a12 lack of supervisor's supervision of workers a13 shipments of unsealed products a14 worker's negligence when loading goods a15 lack of coordination a16 workers do not pay attention to the applicable sop a17 worker's inaccuracy in quality checking a18 error in product packaging process a19 error in storage of raw materials a20 warehouse conditions that are not considered a21 the arrival of products from suppliers outside of schedule a22 price fluctuation a23 payment policy changes a24 table 7 risk events at pt xyz (continued) 130 the winners, vol. 22 no. 2 september 2021, 123-136 risk agent code lack of monitoring of worker attendance levels a25 fruit that is damaged by being in the open for a long time a26 improper and irregular machine maintenance a27 use of machines that exceed capacity a28 unattended oil storage area a29 drivers who do not have a driver's license a30 rare truck maintenance a31 truck loads that exceed capacity a32 there is fraud committed by workers a33 there is no driver standby when needed a34 human error a35 source: pt xyz (2019) table 9 order of risk based on arp value risk agent arp rank percentage cumulative category a3 3.591 1 6,10% 6,10% priority a5 3.360 2 5,71% 11,81% a7 3.186 3 5,41% 17,22% a35 3.143 4 5,34% 22,56% a10 2.968 5 5,04% 27,60% a28 2.872 6 4,88% 32,48% a17 2.695 7 4,58% 37,06% a16 2.583 8 4,39% 41,45% a27 2.513 9 4,27% 45,72% a13 2.457 10 4,17% 49,89% a18 2.304 11 3,91% 53,81% a29 2.100 12 3,57% 57,37% a6 2.085 13 3,54% 60,92% a11 2.009 14 3,41% 64,33% a12 2.009 15 3,41% 67,74% a31 2.009 16 3,41% 71,16% a32 2.008 17 3,41% 74,57% a21 1.482 18 2,52% 77,08% a20 1.434 19 2,44% 79,52% a9 1.398 20 2,38% 81,90% non-priority a23 1.206 21 2,05% 83,94% a34 1.134 22 1,93% 85,87% a30 1.071 23 1,82% 87,69% a26 1.050 24 1,78% 89,47% a25 882 25 1,50% 90,97% a8 788 26 1,34% 92,31% a2 770 27 1,31% 93,62% a33 768 28 1,30% 94,92% a15 555 29 0,94% 95,87% a22 540 30 0,92% 96,78% table 8 risk agent in pt xyz (continued) 131risk and supply chain mitigation.... (shelvy kurniawan, et al.) the 11 mitigation actions proposed are processed into a questionnaire to find the priority order of mitigation actions based on three criteria, namely difficulty level, effectiveness, and cost. based on the network model formed and the results of questionnaire filled out by the respondents, three pair comparisons are obtained: 1) the pairwise comparison of the criteria w.r.t. objective, 2) alternative pairwise comparison w.r.t. criteria and 3) pairwise comparison criteria w.r.t. alternative. in table 11, it can be seen that the most influential criterion in determining the best mitigation action at pt a is the effectiveness criteria with a weight of 0,57690. it is followed by the criteria for the level of difficulty in the second priority with a weight of 0,34200 and the cost criteria for the last priority with a weight of 0,08110. therefore, it can be interpreted that companies prioritize the effectiveness of a proposed mitigation action to see how big is the impact given if the company implements a mitigation action. after effectiveness, the company will see the level of difficulty of a mitigation action. with the company that has only been established for approximately three years, the company will see its capacity in implementing mitigation action. the cost criterion is the least influential criterion for selecting a mitigation action since the criteria for effectiveness risk agent arp rank percentage cumulative category a14 480 31 0,82% 97,60% a1 456 32 0,77% 98,37% a24 432 33 0,73% 99,11% a19 351 34 0,60% 99,70% a4 174 35 0,30% 100,00% total 58.863 source: the researchers (2019) table 10 proposed mitigation actions no. mitigation action code 1 conduct a briefing in the morning before starting work and an evaluation in the afternoon after work hours pa 1 2 perform regular periodic checks on the transportation/machine unit pa 2 3 ensure all unit operators have a sim according to each unit pa 3 4 provide incentives to workers who clean warehouse & oil storage areas pa 4 5 provide counseling regarding company sops to all employees including new employees pa 5 6 provide written sanctions/fines for losses that have been done pa 6 7 make a place/partition for each material along with a bincard pa 7 8 create a staff level daily field inspection template for monitoring inspection levels pa 8 9 create a template for daily activity reports for all employees submitted to their respective superiors pa 9 10 improve the condition of the main garden road pa 10 11 expand the current warehouse/build a new warehouse pa 11 source: the researchers (2019) table 9 order of risk based on arp value (continued) and the level of difficulty in implementing mitigation action are considered more important than the cost of implementing it. table 12 shows the weight of each alternative against each criterion. for example, pa 10 has the highest weight with a value of 0,31023 among other alternatives on the cost criteria. thus it can be interpreted that pa 10 requires the greatest cost among other alternatives. from the effectiveness criteria, pa 11 has the highest weight with a value of 0,28625, which can be interpreted that pa 11 has the greatest effectiveness among other alternatives. from the difficulty level criteria, pa 10 has the highest weight with a value of 0,31832, which can be interpreted that pa 10 has the highest difficulty level to be implemented. table 13 shows the weight of each criterion against each alternative. for example, in pa 1, the weight of effectiveness is 0,69231, the weight of the difficulty level is 0,23077, the weight of the cost is 0,07692. thus it can be interpreted that the effectiveness criterion has the greatest weight because implementing pa 1 can reduce the error rate that may occur in the supply chain process. it is considered not too difficult to implement, and the required costs are little or no cost at all. table 12 shows the weight of each alternative 132 the winners, vol. 22 no. 2 september 2021, 123-136 against each criterion. for example, pa 10 has the highest weight with a value of 0,31023 among other alternatives on the cost criteria. thus it can be interpreted that pa 10 requires the greatest cost among other alternatives. from the effectiveness criteria, pa 11 has the highest weight with a value of 0,28625, which can be interpreted that pa 11 has the greatest effectiveness among other alternatives. from the difficulty level criteria, pa 10 has the highest weight with a value of 0,31832, which can be interpreted that pa 10 has the highest difficulty level to be implemented. table 13 shows the weight of each criterion against each alternative. for example, in pa 1, the weight of effectiveness is 0,69231, the weight of the difficulty level is 0,23077, the weight of the cost is 0,07692. thus it can be interpreted that the effectiveness criterion has the greatest weight because implementing pa 1 can reduce the error rate that may occur in the supply chain process. it is considered not too difficult to implement, and the required costs are little or no cost at all. from the priority criteria to the objectives and the comparison between the criteria and alternatives, a synthesis stage is carried out to see the priority order of mitigation actions that the company should take. the synthesis results can be seen in table 14. table 11 pairwise comparison of criteria criteria weight rank effectiveness 0,57690 1 degree of difficulty 0,34200 2 cost 0,08110 3 table 12 alternative pairwise comparison criteria alternative weight inconsistency cost pa 1 0,01637 0,09787 pa 2 0,13838 pa 3 0,02384 pa 4 0,06747 pa 5 0,02063 pa 6 0,01496 pa 7 0,12632 pa 8 0,02591 pa 9 0,02380 pa 10 0,31023 pa 11 0,23209 effectiveness pa 1 0,09126 0,09980 pa 2 0,04356 pa 3 0,0570 pa 4 0,02136 pa 5 0,03214 pa 6 0,18722 pa 7 0,02546 pa 8 0,01429 pa 9 0,01945 pa 10 0,22199 pa 11 0,28625 degree of difficulty pa 1 0,03453 0,08618 pa 2 0,15715 pa 3 0,01273 pa 4 0,02142 pa 5 0,02622 133risk and supply chain mitigation.... (shelvy kurniawan, et al.) criteria alternative weight inconsistency pa 6 0,01544 pa 7 0,13609 pa 8 0,04116 pa 9 0,02204 pa 10 0,31832 pa 11 0,21489 source: the researchers (2019) tabel 13 alternative pairwise comparison alternative criteria weight inconsistency pa 1 cost 0,07692 0,00000 effectiveness 0,69231 degree of difficulty 0,23077 pa 2 cost 0,63699 0,03703 effectiveness 0,25828 degree of difficulty 0,10473 pa 3 cost 0,10203 0,02795 effectiveness 0,72585 degree of difficulty 0,17212 pa 4 cost 0,69552 0,07348 effectiveness 0,22905 degree of difficulty 0,07543 pa 5 cost 0,09534 0,01759 effectiveness 0,65481 degree of difficulty 0,24986 pa 6 cost 0,08967 0,01759 effectiveness 0,70503 degree of difficulty 0,2053 pa 7 cost 0,69096 0,05156 effectiveness 0,21764 degree of difficulty 0,09140 pa 8 cost 0,07543 0,07348 effectiveness 0,69552 degree of difficulty 0,22905 pa 9 cost 0,07543 0,07348 effectiveness 0,69552 degree of difficulty 0,22905 pa 10 cost 0,75825 0,03112 effectiveness 0,15125 degree of difficulty 0,09051 pa 11 cost 0,72585 0,02795 effectiveness 0,17212 degree of difficulty 0,10203 source: the researchers (2019) table 12 alternative pairwise comparison (continued) 134 the winners, vol. 22 no. 2 september 2021, 123-136 iv. conclusions the research results show that there are thirtysix risk events in pt a's supply chain for the period january 2017 december 2018. three risk events include a unit accident during delivery, insufficient warehouse capacity, and damage to factory machinery. the risk events analyzed in pt a are caused by the risk agent or risk cause. 35 risk agents in the supply chain of pt a were obtained in the period of january 2017 december 2018, 19 of which were categorized as priority risks. the three priority risks include misinformation and communication, damage to the transportation unit/engine, and the truck accident on the way. to reduce the occurrence of risk events, companies need to reduce the incidence rate of risk agents. as many as 11 mitigation actions for the 19 priority risks are proposed. three mitigation actions include improving the condition of the main garden road, expanding the current warehouse/building a new warehouse, and conducting routine checks on certain periods of the transportation/machinery unit. by looking at the many risks that could potentially arise in the supply chain process of pt a, the researchers suggest that the company is able to implement mitigation actions according to priority in accordance with the research results, for example, by improving the condition of the main garden road. by implementing these mitigation actions, the company incurs significant costs initially, but is expected to reduce indirect costs in the long run, such as unit repair costs due to accidents that occur continuously. for supply chain risk analysis and other fields, it is recommended that companies are able to apply: 1) the scor method to help map activities, 2) the hor method to analyze risk since it considers the relationship between risk events and risk agents, and 3) the anp method to seek mitigation action priorities since anp can accommodate the linkages between criteria and alternatives. the research has limitations since it investigates tabel 14 mitigation action priority sequence mitigation action code rank improve the condition of the main garden road pa 10 1 expand the current warehouse/build a new warehouse pa 11 2 perform regular periodic checks on the transportation / machine unit pa 2 3 make a place/partition for each material along with a bincard pa 7 4 provide written sanctions/fines for losses that have been done pa 6 5 provide incentives to workers who clean warehouse & oil storage areas pa 4 6 conduct a briefing in the morning before starting work and an evaluation in the afternoon after work hour pa 1 7 ensure that all unit operators have a sim in accordance with each unit pa 3 8 provide counseling regarding company sops to all employees including new employees pa 5 9 create a staff level daily field inspection template for monitoring inspection levels pa 8 10 create a template for daily activity reports for all employees submitted to their respective superiors pa 9 11 source: the researchers (2019) only in one palm oil company in indonesia. future research is suggested to examine several oil palm companies to compare the results of their research whether it can be generalized. in addition, it is suggested that there is future research on other industries outside of plantations. references adams, w. j. & saaty, r. w. 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(2015). analisis pemilihan pemasok dengan metode analytical hierarchy process di proyek indarung vi pt semen padang. jurnal optimasi sistem industri, 14(1), 55-70. https://doi. org/10.25077/josi.v14.n1.p55-70.2015 microsoft word 04_ enggal_setting.doc 130 journal the winners, vol. 11 no. 2, september 2010: 130-140 dampak penularan krisis global terhadap aliran investasi asing di indonesia enggal sriwardiningsih jurusan manajemen, fakultas ekonomi dan bisnis, universitas bina nusantara, jln. k.h. syahdan no. 9, palmerah, jakarta barat 11480 enggalnabeel@yahoo.com) abstract global crisis and greece crisis have potential contagion effect to emerging market by two main ways, which are export emerging market countries decrease to developed countries and financial crisis developed countries made foreign direct investment bring back their financial from emerging countries because of lack of capital. but indonesia economy has good conduct to support investment by his regulation, so it make high expectation opportunities to foreign direct investment come to indonesia. the problem is how is short–term capital change becoming long-term foreign direct investment that makes indonesia economy can sustainable growth economy. government control the rate of banks, inflation and fiscal stimulus in indonesia dynamic condition perhaps indonesia economy potential propose his target growth according his expectation for 5 years later (2010-2014). keywords: transmission, global crisis, financial flow, foreign investment abstrak krisis global dan krisis yunani berpengaruh contagion berpotensi muncul pasar dengan dua cara utama yaitu ekspor negara-negara emerging market turun menjadi negara maju dan negara-negara krisis keuangan maju melakukan investasi langsung asing membawa kembali keuangan mereka dari negara-negara berkembang karena kekurangan modal. namun perekonomian indonesia telah melakukan yang baik untuk mendukung investasi dengan peraturan-nya, sehingga membuat peluang harapan tinggi untuk investasi langsung asing datang ke indonesia. masalahnya adalah bagaimana jangka pendek modal berubah menjadi investasi jangka panjang langsung asing yang membuat perekonomian indonesia pertumbuhan ekonomi dapat berkelanjutan. pemerintah mengontrol tingkat bank, inflasi dan stimulus fiskal dalam kondisi indonesia yang dinamis mungkin potensi ekonomi indonesia mengusulkan target pertumbuhan nya sesuai harapannya selama 5 tahun kemudian (2010-2014). kata kunci: penularan, krisis global, aliran dana, investasi asing dampak penularan krisis .....(enggal sriwardiningsih) 131 pendahuluan krisis ekonomi global yang episentrumnya berada di amerika serikat (as) sudah mulai mereda, di mana krisis subprime mortgage di as menurunkan pertumbuhan ekonomi dari 6,1% (2008) menjadi 4,5% (2009). kemungkinan krisis berikutnya akibat krisis yang terjadi di yunani, akan ditularkan yunani ke negara-negara lain yang sesungguhnya belum pulih sepenuhnya dari krisis sebelumnya. negara-negara eropa tidak boleh membiarkan yunani bangkrut, meski besaran (magnitude) krisis yunani tidak besar, namun efek penularan melalui transmisi sektor finansial (penerbitan obligasi pemerintah) serta tekanan psikologis berakibat pada tekanan fiskal di banyak negara tetangga yunani. konfigurasi perekonomian global inilah yang akan banyak mewarnai perjalanan ekonomi indonesia sepanjang tahun 2010 dan seterusnya. krisis likuiditas di negara-negara maju ini menyebabkan sumber pendanaan untuk menggerakkan perekonomian berkurang, dan pada gilirannya akan menyebabkan turunnya pertumbuhan ekonomi. sebagai lanjutan dari krisis global tersebut, pertumbuhan ekonomi advanced economies akan turun dari 2.7% di tahun 2007 menjadi 1.0 %di tahun 2008, dan menjadi -1.8% di tahun 2009 menurut imf (world economic outlook database). meski perekonomian yunani tidak besar, namun tetap saja berpotensi menyebabkan efek menular (contagion effect) ke negara-negara berkembang (dan juga emerging market) melalui 2 saluran utama. pertama, lambatnya pertumbuhan ekonomi negara-negara maju akan menyebabkan ekspor negara-negara berkembang menjadi berkurang. kedua, krisis likuiditas negara-negara maju menyebabkan investor di negara-negara maju menarik aliran dananya yang ditanamkan di negaranegara berkembang, atau terjadi capital outflow di negara-negara berkembang karena negara-negara maju kesulitan likuiditas. penularan krisis dari negara-negara maju tentunya menyebabkan pertumbuhan ekonomi negara berkembang dan emerging economies ikut turun. imf (world economic outlook database) memperkirakan pertumbuhan ekonomi emerging and developing economies akan turun dari 8.3% di tahun 2007 menjadi 6.3% di tahun 2008, dan 3.3% di tahun 2009. akibat krisis global ini, tidak ada satupun negara di dunia ini yang tidak terkena dampaknya, begitupun indonesia. indonesia diestimasikan akan mengalami penurunan pertumbuhan ekonominya mulai tahun 2007 (6,3%), tahun 2008 menjadi 6.2%, tahun 2009 menurun terus mencapai 4,5% (sumber bps). akibat dari krisis global ini, andalan ke depan untuk mengejar pertumbuhan ekonomi di tahun 2010 adalah dari sisi permintaan dalam negeri. prasentiono (2010) berpendapat bahwa pertumbuhan ekonomi indonesia mampu menembus 6%. salah satu penggerak utama pertumbuhan ekonomi dari sisi permintaan dalam negeri adalah mendorong investasi. investasi yang diestimasikan akan tumbuh 12.4% di tahun 2008 ternyata gagal untuk dicapai, tahun 2009 pun hanya mampu tumbuh sebesar 3,3 %, dan diproyeksikan di tahun 2010 ini akan mencapai 8,8% 9,3, dengan adanya kondisi perbaikan sektor riil (sumber bps dan perkiraan bi). untuk mendorong investasi ini, pemerintah berupaya melakukan kebijakan moneter dan fiskal. pemerintah telah mulai menurunkan suku bunga. suku bunga sudah diturunkan sejak november 2008 dari 9.5% hingga mencapai 8.75% di bulan januari 2009 (sumber bi). pemerintah telah membuat paket stimulus fiskal dalam upaya mendorong investasi, antara lain memberikan stimulus fiskal dalam upaya meningkatkan daya beli masyarakat dan memberikan potongan pajak. selain itu, berbagai perbaikan di sektor riil yang secara konsisten dijalankan oleh pemerintah juga memberikan kontribusi signifikan dalam perbaikan iklim investasi. keberhasilan dalam menciptakan iklim investasi yang lebih kondusif juga akan memberi dampak positif lain, yaitu membaiknya aliran masuk modal asing global masuk ke indonesia yang pada gilirannya diprakirakan turut membawa inovasi maupun teknologi baru. 132 journal the winners, vol. 11 no. 2, september 2010: 130-140 dengan faktor-faktor ini dan didukung oleh ketersediaan pembiayaan yang sumber utamanya dari tabungan domestik, maka kegiatan investasi diperkirakan menjadi mesin utama pertumbuhan ekonomi ke depan. performa kegiatan investasi mulai tumbuh pesat pada tahun 2010 dan selanjutnya akan mengalami akselerasi dan mencapai kisaran 11,9% – 12,9% pada tahun 2014 (http://www.bi.go.id). berdasarkan fakta tersebut, penelitian ini akan mendiskusikan beberapa hal terkait investasi di indonesia, yaitu (1) proses penularan krisis global ke indonesia dan dampaknya terhadap investasi; (2) langkah-langkah pemerintah dalam upaya mendorong investasi; (3) kebijakan pemerintah; dan (4) prospek investasi untuk lima tahun ke depan ( 2010-2014). metode penelitian untuk keperluan analisis penularan krisis global bagi aliran dana asing untuk berinvestasi di indonesia ini, maka jenis data yang digunakan adalah data sekunder yang bersifat runtun waktu. berbagai data yang akan digunakan dikumpulkan dari berbagai instansi terkait, seperti bank indonesia, bps, imf (world economic outlook), depatemen keuangan dan bappenas. secara umum, metode analisis yang digunakan dalam kajian ini adalah kajian analisis deskriptif terhadap perekonomian indonesia pada masa krisis keuangan global yang dampaknya terhadap aliran dana asing di indonesia. hasil dan pembahasan penularan krisis penularan krisis, yaitu melalui saluran perdagangan internasional dan aliran modal. turunnya pertumbuhan ekonomi negara-negara maju akan menyebabkan pasar ekspor negara-negara berkembang berkurang. tabel 1 memperlihatkan pertumbuhan ekonomi negara-negara maju (advanced countries), yang merupakan pasar ekspor negara-negara berkembang: pertumbuhan tahun 2007 yaitu 2.7%, tahun 2008 hanya tumbuh 1.0% lebih rendah dibanding tahun sebelumnya, dan mengalami pertumbuhan negatif di tahun 2009 sebesar -1.6% dan diestimasikan mulai mengalami pertumbuhan yang membaik di tahun 2010, yaitu tumbuh sebesar 1,6 % (sumber: imf, world economic outlook 2009). pasar ekspor dunia sudah mulai terdiversifikasi ke jepang. namun, jepang juga mengalami perlambatan pertumbuhan ekonomi sehingga pasar ekspor negara-negara berkembang juga akan turun. tabel 1 memperlihatkan pertumbuhan ekonomi jepang tahun 2007 (13.0%), tahun 2008 lebih rendah, yaitu 9.0% semakin menurun di tahun 2009, yaitu hanya sebesar 6,7%, dan diproyeksikan tahun 2010 ini akan tumbuh lebih baik, yaitu sebesar 8% (sumber: imf, world economic outlook 2009). berdasarkan tabel 1, perlambatan ekonomi dunia ini menyebabkan ekspor emerging and developing economies diekspektasikan tumbuh lebih rendah, yaitu 5.6% di tahun 2008, dan diproyeksikan akan tumbuh negatif di tahun 2009, yaitu -0.8% dan akan mengalami peningkatan sebesar 5,4% di tahun 2010 (sumber: imf, world economic outlook 2009). dampak penularan krisis .....(enggal sriwardiningsih) 133 tabel 1 pertumbuhan ekonomi dan perdagangan dunia 2007 2008 (est.) 2009 (proj.) 2010 (proj.) pertumbuhan ekonomi world output advanced economies united status euro area emerging and developing economies 5.2 2.7 2.0 2.6 8.3 3.4 1.0 1.1 1.0 6.3 0.6 -1.8 -1.6 -2.0 3.3 3.0 1.2 1.6 0.2 5.0 pertumbuhan ekonomi japan china india emerging asia (excl. china & india) 2.4 13.0 9.3 6.0 -0.3 9.0 7.3 3.7 -2.6 6.7 5.1 -0.7 0.8 8.0 6.5 3.6 volume perdagangan imports advanced economies emerging and developing economies exports advanced economies emerging and developing economies 7.2 4.5 14.5 5.9 9.6 4.1 1.5 10.4 3.1 5.6 -2.8 -3.1 -2.2 -3.7 -0.8 3.2 1.9 5.8 2.1 5.4 sumber: imf, world economic outlook (2009) demikian juga dengan indonesia, yang memperlihatkan kecenderungan menurun pada beberapa bulan terakhir 2008. gambar 1 (sumber: badan pusat statistik 2009) memperlihatkan ekspor nonmigas indonesia memperlihatkan kecenderungan menurun pada bulan oktober dan november, dan diperkirakan akan terus menurun pada bulan-bulan berikutnya. grafik ini memperlihatkan bahwa dampak krisis global telah mempengaruhi perkembangan ekspor nonmigas indonesia, dengan ditunjukkannya turunnya nilai ekspor nonmigas indonesia pada beberapa bulan terakhir 2008. eks por non migas 2009 2.000,0 4.000,0 6.000,0 8.000,0 10.000,0 12.000,0 1 2 3 4 5 6 7 8 9 10 11 bulan ju ta u s d gambar 1 perkembangan ekspor non migas 2008 sumber: badan pusat statistik (2009) krisis subprime mortgage sejak pertengahan juli 2007 telah menyebabkan krisis likuiditas di amerika serikat dan negara-negara maju lainnya. krisis likuiditas ini menyebabkan penurunan capital inflow ke negara-negara berkembang dan emerging countries. tabel 2 (sumber: imf, world economic outlook 2008) memperlihatkan berkurangnya aliran modal ke negara-negara berkembang, yaitu dari us$ 2,017.0 billion di tahun 2007 turun (angka estimasi) menjadi us$ 1,344.3 billion di tahun 2008, dan diproyeksikan turun lagi menjadi us$ 1,293.6 di tahun 2009. 134 journal the winners, vol. 11 no. 2, september 2010: 130-140 tabel 2 aliran modal netto negara berkembang dan emerging market (billion us dollar) sumber: imf, world economic outlook (2008) dampak krisis likuiditas global ini juga terjadi di indonesia. tabel 3 (sumber bi, perkiraan neraca pembayaran 2010-2014) memperlihatkan terjadi capital outflow (estimasi) tahun 2008 sebesar us$2.5 miliar, dan diproyeksikan pada tahun 2009 sebesar –us$2.1 miliar. dilihat dari aliran modal jangka panjang (foreign direct investment, fdi) masuk berkurang pada tahun 2008, yaitu us$6.7 miliar, dibandingkan tahun 2007 (us$6.9 miliar), dan diproyeksikan turun lagi menjadi menjadi us$5.9 miliar di tahun 2009. dilihat dari aliran modal jangka pendek (portfolio investment) masuk berkurang pada tahun 2008, yaitu us$3.0 miliar, dibanding tahun 2007 (us$10.0 miliar), dan diproyeksikan sedikit naik lagi menjadi us$4.5 miliar. tambahan pula, untuk aliran jangka pendek lainnya, pada tahun 2007 telah terjadi pembalikan aliran masuk sebesar –us$0.3 miliar. tabel 3 perkiraan neraca pembayaran, 2010-2014 r e a lis a s i e s tim a s i 2 0 0 7 2 0 0 8 2 0 0 9 2 0 1 0 2 0 1 1 2 0 1 2 2 0 1 3 2 0 1 4 n e ra c a t ra n s a k s i b e rja la n 1 0 ,3 0 ,2 4 ,5 4 ,2 2 ,1 0 ,1 -1 ,7 -2 ,7 e k s p o r 1 1 8 ,0 1 4 0 ,3 1 2 3 ,7 1 3 0 ,2 1 3 8 ,3 1 5 1 ,0 1 6 5 ,8 1 8 5 ,6 m ig a s 2 4 ,9 3 1 ,7 1 9 ,5 2 1 ,8 2 3 ,4 2 7 ,0 2 9 ,3 3 2 ,8 1 3 6 ,5 1 5 2 ,8 -2 0 4 ,4 -2 3 9 ,7 m ig a s -1 9 ,2 -2 4 ,3 -1 5 ,9 -1 6 ,4 -1 7 ,7 -1 8 ,7 -1 9 ,3 -2 0 ,5 n o n m ig a s -6 6 ,1 -9 3 ,7 -8 5 ,8 -9 0 ,1 -9 6 ,4 -1 0 8 ,6 -1 2 3 ,1 -1 4 1 ,6 -2 5 ,0 -2 6 ,2 1 3 ,0 1 5 ,9 n e ra c a m o d a l 0 ,5 0 ,4 0 ,1 0 ,1 0 ,1 0 ,1 0 ,1 0 ,1 1 2 ,9 1 5 ,9 in v e s ta s i l a n g s u n g 2 ,3 1 ,2 1 ,1 2 ,0 3 ,2 5 ,3 6 ,6 7 ,5 a ru s m a s u k -4 ,7 -5 ,5 -4 ,9 -4 ,8 -4 ,5 -3 ,9 -3 ,3 -3 ,0 9 ,9 1 0 ,5 p o rtfo lio 5 ,5 1 ,6 -0 ,5 0 ,6 2 ,0 3 ,5 5 ,0 6 ,2 a s e t s w a s ta -4 ,5 -1 ,1 -5 ,0 -4 ,8 -4 ,5 -4 ,0 -3 ,5 -3 ,3 l ia b ilitie s 1 0 ,0 3 ,0 4 ,5 5 ,4 6 ,5 7 ,5 8 ,5 9 ,5 p e m e rin ta h d a n b i 5 ,3 3 ,3 2 ,7 3 ,1 3 ,5 4 ,0 4 ,5 5 ,0 s w a s ta 4 ,7 -0 ,3 1 ,8 2 ,3 3 ,0 3 ,5 4 ,0 4 ,5 l a in n y a -4 ,9 -5 ,9 -2 ,7 -1 ,5 -0 ,5 0 ,6 1 ,3 2 ,3 a s e t s w a s ta -4 ,6 -8 ,2 -5 ,6 -5 ,1 -4 ,6 -3 ,9 -3 ,6 -3 ,0 l ia b ilitie s -0 ,3 2 ,3 2 ,9 3 ,5 4 ,0 4 ,4 4 ,9 5 ,3 p e m e rin ta h d a n b i -2 ,4 -1 ,2 -0 ,6 -0 ,3 -0 ,3 -0 ,3 -0 ,3 -0 ,2 s w a s ta 2 ,1 3 ,5 3 ,5 3 ,8 4 ,3 4 ,7 5 ,2 5 ,5, t o t a l 1 3 ,8 -2 ,3 2 ,8 5 ,3 6 ,8 9 ,5 1 1 ,3 1 3 ,2 s e lis ih p e rh itu n g a n -1 ,1 0 ,1 0 0 0 0 0 0 n e ra c a k e s e lu ru h a n 1 2 ,7 -2 ,2 2 ,8 5 ,3 6 ,8 9 ,5 1 1 ,3 1 3 ,2 1 ,1 4 ,6 9 ,4 a ru s k e lu a r 6 ,9 6 ,7 5 ,9 6 ,7 7 ,7 9 ,1 n e ra c a f in a n s ia l 2 ,9 -2 ,9 -2 ,2 -1 9 ,5 -2 2 ,0 -2 3 ,7 n e ra c a m o d a l d a n f in a n s ia l 3 ,5 -2 ,5 -2 ,1 1 ,2 4 ,7 9 ,5 j a s a -ja s a -2 2 ,4 -2 2 ,3 -1 7 ,2 1 0 8 ,4 1 1 4 ,9 1 2 4 ,1 im p o r -8 5 ,3 -1 1 7 ,9 -1 0 1 ,7 -1 6 0 ,5 -1 1 4 ,2 -1 7 4 ,9 n o n m ig a s 9 3 ,1 1 0 8 ,7 1 0 4 ,2 p e r k ir a a n n e r a c a p e m b a y a r a n 2 0 0 1 0 -2 0 1 4 (u s d m ilia r) p ro y e k s i sumber: bi (2009) dampak penularan krisis .....(enggal sriwardiningsih) 135 dampak terhadap investasi salah satu komponen penggerak investasi adalah pma. krisis global menyebabkan likuiditas dana negara-negara berkembang semakin menyusut. menyusutnya dana tersebut, menyebabkan negara-negara maju berupaya menarik investasinya di negara-negara berkembang, termasuk indonesia. tabel 3 memperlihatkan fdi yang masuk ke indonesia berkurang di tahun 2008, yaitu us$6.7 miliar, nilai ini lebih rendah dibanding tahun 2007 (us$6.9 miliar). pma masuk kembali diproyeksikan lagi akan menyusut di tahun 2009 menjadi us$ 5.9 miliar. dengan demikian, dapat disimpulkan bahwa terjadinya krisis global menyebabkan investasi di indonesia akan menyusut di tahun 2008 dan 2009 dikarenakan berkurangnya pma yang masuk ke indonesia. salah satu sumber dana perusahaan adalah dana yang berasal dari pasar modal, yaitu saham dan obligasi. adanya krisis global menyebabkan aliran dana jangka pendek (short term capital inflow) menjadi berkurang ke negara-negara maju, termasuk indonesia. tabel 3 memperlihatkan aliran modal jangka pendek (termasuk saham dan obligasi) yang masuk ke indonesia berkurang di tahun 2008, yaitu us$3.0 miliar, dibanding tahun 2007 (us$10.0 miliar). namun demikian, dampak global melalui saluran aliran modal jangka pendek ini tidak terlalu besar dampaknya bagi investasi secara keseluruhan. hal ini disebabkan karena sumber dana keuangan yang berasal dari non-bank (saham dan obligasi) hanya memberikan kontribusi yang kecil terhadap pendanaan investasi. gambar 1, yang berasal dari data neraca arus dana, memperlihatkan selama kurun waktu 2001-2006 peranan lembaga perbankan berkisar antara 2.04% di tahun 2003 dan 0.35% di tahun 2006. sementara itu, kontribusi lembaga keuangan non-bank %tasenya lebih kecil, yaitu rata rata kurang dari 1%. 1.36 0.22 0.69 0.18 2.04 0.27 0.6 0.06 1 0.14 0.35 0.19 0 0.5 1 1.5 2 2.5 p er se nt as e 2001 2002 2003 2004 2005 2006 tahun bank bukan bank gambar 1 sumber dana bank dan lembaga keuangan non-bank sumber: neraca arus dana, bps(2006) dampak aliran modal adalah dampak langsung dari krisis modal terhadap investasi. terdapat juga dampak tidak langsungnya. adanya penurunan pertumbuhan ekonomi global menyebabkan 2 hal, yaitu pasar ekspor negara-negara berkembang turun dan turunnya berbagai barang ekspor di pasar dunia (lihat gambar 2). turunnya pangsa pasar ekspor dan turunnya harga barang ekspor menyebabkan keinginan investor melakukan investasi berkurang karena rendahnya harga ini menyebabkan investor berkurang hasrat untuk melakukan investasi karena keuntungan yang didapatkan akan sangat rendah dikarenakan rendahnya harga barang ekspor. 136 journal the winners, vol. 11 no. 2, september 2010: 130-140 grafik 2 commodity price indices and average petroleum spot prices sumber: imf, weo (2008) adanya ekspektasi rendahnya pertumbuhan ekonomi dalam negeri ini menyebabkan likuiditas kredit perbankan dalam negeri diperkirakan akan berkurang karena kepercayaan perbankan untuk mengucurkan kredit menjadi rendah (credit rationing). tentunya rendahnya persetujuan kredit ini akan berakibat turunnya investasi. terjadinya krisis global ditandai dengan turunnya indeks saham dan depresiasi mata uang domestik terhadap nilai tukar, baik di negara-negara maju maupun negara-negara berkembang, termasuk indonesia. indonesia pada tahun 1997 pernah mengalami masa nilai tukar rupiah terdepresiasi tajam, dimana depresiasi ini telah menyebabkan krisis kepercayaan, krisis ekonomi, dan sosial politik sehingga depresiasi rupiah yang tajam merupakan hal yang harus dihindari. salah satu cara untuk menghindari depresiasi rupiah ini adalah dengan menaikkan suku bunga. namun, kenaikan suku bunga akan berakibat terjadinya penurunan investasi. dengan demikian, indonesia sebagai negara yang pernah mengalami krisis kepercayaan akibat terjadinya depresiasi rupiah yang tajam, selalu menghadapi dilema bila menghadapi depresiasi rupiah. di satu pihak harus menaikkan suku bunga bila ingin menahan depresiasi rupiah yang tajam, di lain pihak harus menurunkan suku bunga bila ingin mendorong investasi, yang terpuruk diakibatkan krisis global. menghadapi kondisi dilema seperti ini, yang seharusnya dilakukan pemerintah adalah menunggu ketenangan gejolak ekonomi dunia, terutama gejolak harga saham dunia seperti indeks dow jones, hang seng, nikkei, dan lainnya. bila gejolak saham sudah mulai tenang, ini artinya bila pemerintah dapat menurunkan suku bunga, maka nilai tukar tidak akan terdepresiasi tajam. untuk menurunkan suku bunga, ada 2 hal yang perlu diperhatikan, yaitu (1) ketenangan ekonomi dunia, dalam hal ini gejolak saham dunia, dan (2) inflasi dalam negeri, artinya ekspektasi inflasi ke depan juga akan rendah. dengan rendahnya inflasi ini, maka diperkirakan masih terdapat margin keuntungan antara suku bunga riil dan suku bunga nominal. berdasarkan gambar 3 dan gambar 4, terlihat ketika global stock market indices telah mulai membaik pada bulan november dan desember 2008, dan inflasi juga telah mulai menurun pada bulan november dan desember 2008, maka bi telah mulai menurunkan suku bunga pada bulan desember 2008. hal ini memperlihatkan bahwa dengan menurunnya suku bunga diharapkan investasi akan meningkat pada tahun 2009, dan tahun-tahun berikutnya. dampak penularan krisis .....(enggal sriwardiningsih) 137 global stock market indices 0 5000 10000 15000 20000 25000 30000 1 2 3 4 5 6 7 8 9 10 11 12 tahun 2008 in d ic es fst e nikkei hangseng sumber: bi (2008) gambar 3 saham dunia inflasi dan suku bunga 0 2 4 6 8 10 12 14 1 2 3 4 5 6 7 8 9 10 11 12 tahun 2008 % ind inflation bi rate gambar 4 inflasi dan suku bunga indonesia sumber: bi (2008) kebijakan pemerintah pada bagian sebelumnya, dijelaskan bahwa salah satu kebijakan pemerintah adalah menurunkan suku bunga agar supaya permintaan dalam negeri, melalui kenaikan investasi, dapat mendorong pertumbuhan ekonomi, yang dilakukan antara lain, pada bulan januari 2009, bank indonesia telah menurunkan suku bunga hingga mencapai 8,75% (sumber bi) pada saat tingkat inflasi sudah mulai turun. pada bagian ini, kita menguraikan kebijakan pemerintah yang penting lainnya untuk mendorong investasi, yaitu kebijakan fiskal, antara lain (1) mempercepat penyerapan proyekproyek pemerintah dan bumn, (2) menerapkan stimulus fiskal dan menyediakan stimulus fiskal tambahan untuk dunia bisnis dan proyek-proyek infrastruktur, (3) mendorong sektor real dan mempromosikan ekspor, misalnya garansi pemerintah untuk fasilitas trade financing, dan (4) menurunkan harga bbm, menerapkan mekanisme penyesuaian harga bbm bila terjadi perubahan harga minyak dunia, dan memberikan insentif dengan menurunkan harga minyak solar untuk dunia usaha dalam rangka mengurangi biaya perusahaan dalam menjalankan operasinya. 138 journal the winners, vol. 11 no. 2, september 2010: 130-140 terkait dengan upaya melakukan stimulus fiskal, pemerintah berupaya mempertahankan kesimbambungan fiskal pada tahun 2009, dengan cara melakukan pemindahan kebijakan dari kebijakan fiskal yang defensif menuju pada kebijakan fiskal yang ofensif seperti terlihat pada tabel 4. untuk mengantisipasi krisis global, tahun 2009 pemerintah juga melakukan stimulus fiskal, yang ditujukan untuk 3 sasaran. pertama, meningkatkan penyerapan tenaga kerja dan mempercepat pertumbuhan usaha kecil dan menengah, yang dilakukam dengan pembangunan infrastruktur, antara lain (1) mengurangi kemiskinan dengan memperkuat dan mempercepat program pnpm, (2) mempercepat kredit program (kur) untuk mendorong pembangunan sektor primer, dan (3) menambah proyek-proyek infrastruktur dalam upaya untuk menciptakan tenaga kerja tambahan. kedua, mendorong daya beli masyarakat yang dilakukan dengan (1) mensubsidi harga obat dan minyak goring, (2) mensubsidi langsung untuk masyarakat pendapatan rendah dengan cara memberikan cash transfer dan conditional cash transfer, dan (3) menyediakan subsidi langsung dan tidak langsung bagi sektor pendidikan dan kesehatan. ketiga, menstmulasi perdagangan dan mempromosikan kewiraswastaan, yang dilakukan dengan (1) memberikan fasilitas import duty untuk impor barang modal terpilih, (2) memberikan garansi untuk export financing, (iii) pengurangan pajak untuk pendapatan perusahaan dan pendapatan individu, dan menaikkan batas minimum untuk pajak tenaga kerja, dan (4) mengurang biaya beban listrik untuk masa peak-hour untuk sektor industri dan pengurangan harga minyak disel. tabel 4 from defensive measures to offensive measures sumber: departemen keuangan (2009) dampak penularan krisis .....(enggal sriwardiningsih) 139 proyeksi investasi 2010-2014 bank dunia (2009) memperkirakan krisis global akan berbentuk u shape, artinya proses recovery dunia membutuhkan waktu yang cukup panjang. setelah 2 tahun mengalami proses recovery, tabel 5 (sumber bappenas 2008) pertumbuhan investasi indonesia diproyeksikan kembali tinggi pada tahun 2012-1014, yaitu 10.1%, 10.5% dan 11.1%. kenaikan investasi ini sejalan dengan krisis global telah pulih sejak tahun 2012. pulihnya ekonomi global ini dapat dilihat pada tabel 3 neraca pembayaran. pma naik dari us$3.2 miliar di tahun 2011, hingga mencapai us$5.3 miliar di tahun 2012, dan naik lagi menjadi us$6.6 miliar di tahun 2013 dan us$7.5 miliar di tahun 2014. investasi portopolio naik dari us$2.0 miliar di tahun 2011, hingga mencapai us$3.5 miliar di tahun 2012, dan naik lagi menjadi us$5.0 miliar di tahun 2013 dan us$6.2 miliar di tahun 2014. investasi lainnya naik dari -us$0.5 miliar di tahun 2011, hingga mencapai us$0.6 miliar di tahun 2012, dan naik lagi menjadi us$1.3 miliar di tahun 2013 dan us$2.3 miliar di tahun 2014. berdasarkan pertumbuhan investasi di atas, maka kebutuhan investasi nasional selama 5 tahun ke depan adalah rp 10.042 triliun, dengan kebutuhan investasi masingmasing untuk tahun 2010, 2011, 2012, 2013, dan 2014 adalah rp 1.547,7 triliun; rp 1.743,4 triliun; rp 1.975,8 triliun; rp 2.239,1 triiun; dan rp 2.536,0 triliun. tabel 5 proyeksi pertumbuhan 2010-2014 sumber: bappenas (2008) realisasi rata-rata 2007 2008 2009 2010 2011 2012 2013 2014 2010-2014 pertumbuhan ekonomi (%) 6,3 6,2 5,0 5,5 5,9 6,3 6,7 7,0 6,3 sisi pengeluaran konsumsi masyarakat 5,0 5,4 4,8 4,9 5,3 5,5 5,7 6,1 5,5 konsumsi pemerintah 3,9 8,9 6,1 6,3 6,4 6,5 6,6 6,7 6,5 investasi 9,2 12,4 7,5 8,1 8,7 10,1 10,5 11,1 9,7 ekspor barang dan jasa 8,0 13,8 2,5 3,3 4,9 6,5 8,1 9,7 6,5 impor barang dan jasa 8,9 14,0 6,5 7,0 7,6 10,8 11,9 12,5 10,0 sisi produksi pertanian, perkebunan, peternakan 3,5 4,0 3,5 3,5 3,6 3,6 3,7 3,7 3,6 kehutanan, dan perikanan pertambangan dan penggalian 2,0 0,0 1,2 1,2 1,3 1,3 1,3 1,4 1,3 industri pengolahan 4,7 4,0 3,9 5,0 5,4 5,8 6,2 6,4 5,8 industri bukan migas 5,2 4,4 4,3 5,5 5,9 6,3 6,7 6,9 6,3 listrik, gas dan air 10,4 10,0 8,0 8,1 8,4 8,7 8,8 10,0 8,8 konstruksi 8,6 8,3 6,8 7,0 7,1 7,2 7,2 7,3 7,2 perdagangan, hotel, dan restoran 8,5 8,3 6,0 6,5 7,4 8,2 8,7 9,0 8,0 pengangkutan, dan telekomunikasi 14,4 13,0 8,0 10,0 10,6 11,2 12,4 13,3 11,5 keuangan, real estat, dan jasa perusahaan 8,0 7,8 6,5 5,8 5,8 6,0 6,0 6,1 5,9 jasa-jasa 6,6 6,4 5,0 5,5 5,7 5,9 6,1 6,3 5,9 i / y (%) 24,9 26,0 26,3 26,7 27,1 27,6 28,1 28,6 kebutuhan investasi (rp triliun) 983,8 1212,9 1366,7 1547,7 1743,4 1975,8 2239,1 2536,0 10042,0 * * jumlah total 2010 s/d 2014 perkiraan proyeksi 2010-2014 140 journal the winners, vol. 11 no. 2, september 2010: 130-140 simpulan perekonomian indonesia mampu tumbuh untuk kinerja 2010. optimisme terus menguat dalam menghadapi krisis global meski demikian, masih ada persoalan eksternal yang harus disimak dengan baik, yaitu perkembangan krisis ekonomi yunani. meski perekonomian yunani tidak besar, namun tetap saja berpotensi menyebabkan efek menular (contagion effect). dinamika yang terjadi di yunani dan negara-negara pengguna euro telah menyebabkan terinterupsinya aliran dana asing jangka pendek ke indonesia. ekspektasi yang tinggi terhadap perekonomian indonesia, ditambah instabilitas politik di negara kompetitor masih akan membuka peluang mengalir masuknya modal asing ke indonesia. namun, masalahnya kemudian adalah bagaimana agar modal asing jangka pendek (short-term capital) tersebut bisa diubah menjadi modal asing jangka panjang (foreign direct investment) agar perekonomian indonesia dapat menikmati pertumbuhan ekonomi yang berkelanjutan (sustainable). dengan segala sisi positif dan negatifnya, perekonomian indonesia tetap berpotensi untuk mencapai target pertumbuhannya. daftar pustaka badan pusat statistik. (2006). neraca arus dana. international monetary fund. (2008). world economic outlook. international monetary fund. (2009). world economic outlook. international monetary fund. (2010). the global financial crisis: responses and challenges ahead, washington dc: imf, january. prasetiantono, a.t. (2010). pertumbuhan ekonomi indonesia berpeluang menembus 6%. economic review, no.219, maret 2010. the world bank, 2010. east asia and pacific economic update 2010, vol.1: emerging stronger from the crisis, washington dc: ibrd. the world bank, 2010. indonesia economic quarterly: building momentum, ibrd: washington dc, march. microsoft word 02_idris g.s_penggunaan pengungkit.doc journal the winners, vol. 4 no. 2, september 2003: 72-77 72 penggunaan pengungkit dalam mengembangkan bisnis idris gautama1 abstract many businesses do not perform optimally because of the leveraging factors. this article explains the term leveraging, its factors, how it works, and also how the factors can influence the business. starting with the concept of leverage then how its works followed by the importance of control activities in good corporate governance in order to put leveraging into maximum performance. keywords: business, leveraging abstrak banyak bisnis tidak tampil secara optimal karena faktor penggunaan pengungkit. artikel memaparkan istilah pengungkit, faktor pengungkit, cara kerjanya, dan bagaimana faktor tersebut dapat mempengaruhi bisnis. dimulai dari konsep pengungkit, cara kerjanya, dan diikuti oleh pentingnya kontrol aktivitas dalam pengelolaan yang baik untuk memaksimalkan penggunaan pengungkit. kata kunci: bisnis, pengungkit 1 staf pengajar fakultas ilmu komputer, ubinus, jakarta penggunaan pengungkit dalam mengembangkan bisnis (idris gautama) 73 pendahuluan dalam ilmu fisika, telah diajarkan bahwa untuk mengangkat benda yang berat dapat digunakan alat bantu sedemikian rupa sehingga momen yang dikeluarkan (m2) untuk mengangkat benda tersebut tidak perlu sebesar momen benda (m1) tersebut. hal itu karena masing-masing momen dipengaruhi oleh panjang pengungkit, seperti gambar di bawah ini. gambar 1 pengungkit dalam mengangkat benda bila l1 = lengan pengungkit dari benda ke titik tumpu l2 = lengan pengungkit dari usaha dilakukan ke titik tumpu j = jarak g1 = gaya benda = m x g (massa benda x gravitasi) g2 = gaya di tempat usaha dilakukan m1 = momen benda = g1 x l1 m2 = momen ditempat usaha dilakukan = g2 x l2 dan usaha (u)= m2 x j dari penjelasan singkat di atas dapat dilihat bahwa untuk mengangkat benda tersebut tidak dibutuhkan sebesar massanya karena gaya dipengaruhi oleh panjang pengungkit. demikian juga dengan usaha yang dilakukan untuk menggeser benda sejauh j menjadi ”lebih ringan” atau memperoleh keuntungan mekanik sebesar l2 / l1. demikan juga dengan di dalam melakukan bisnis, bila dapat dilakukan usaha pengungkitan dengan baik maka hasilnya tentu akan lebih mengoptimalkan laba perusahaan. tentunya ada beberapa asumsi yang juga harus dipikirkan sebagai logika umum misalnya kekuatan/daya tahan dari pengungkit itu sendiri. journal the winners, vol. 4 no. 2, september 2003: 72-77 74 pembahasan chassis bisnis bisnis memiliki chassis yang dapat mentransformasikan bisnis menjadi profit/keuntungan (sugars, 2000:24). chassis yang dimaksud sebagai berikut. 1. potensi (leads) 2. tingkat konversi (conversion rate) 3. banyaknya transaksi (number of transactions) 4. rata-rata penjualan (average dollar sale) 5. marjin (magins) potensi adalah jumlah pelanggan atau calon pelanggan yang dihubungi atau menghubungi perusahaan. banyak perusahaan yang bahkan tidak mempunyai catatan tentang hal itu. sebenarnya, memiliki catatan tentang banyaknya kontak yang dilakukan merupakan sutau hal yang penting karena banyak transaksi yang terjadi dimulai dengan kontak yang sederhana. dari banyaknya kontak yang berpotensi, tentunya tidak semua menjadi transaksi riil bagi perusahaan. besarnya persentase dari potensi yang menjadi transaksi riil itulah yang disebut dengan tingkat konversi. bila dari keseluruhan kontak potensial yang menjadi transaksi riil adalah 25% maka dikatakan tingkat konversinya adalah 25%. banyaknya transaksi rata-rata per tahun sering juga tidak diketahui oleh banyak perusahaan sehingga banyak kesempatan yang dapat dilakukan untuk menarik kembali pelanggan ”sesekali” kembali ke perusahaan terabaikan. demikian juga dengan pelanggan yang ada yang dapat ditingkatkan jumlah transaksinya dengan perusahaan menjadi terabaikan. catatan tentang hal itu hendaknya dimiliki perusahaan. rata-rata penjualan adalah rata-rata penjualan per transaksi yang dilakukan pelanggan kepada perusahaan dalam satuan mata uang. dengan menulis rata-rata tentunya dimaksudkan bahwa transaksi yang ada telah dirata-ratakan dan jumlah penjualan dibagi dengan jumlah pelanggan. marjin adalah sejumlah persentase keuntungan yang didapat dari penjualan yang dilakukan. bila penjualan rp100.000,00 dan keuntungan setelah dikurangi dengan biaya adalah rp20.000,00 maka dikatakan marjin keuntungan adalah 20% diperoleh dari perhitungan (20.000/100.000x100%). contoh berikut akan memberikan gambaran yang lebih jelas. potensi 5.000 (kontak dengan pelanggan atau calon pelanggan) x tingkat konversi 20% (1 dari 5 kontak menjadi tranksaksi) jumlah pelanggan 1.000 x banyaknya transaksi 2 (banyaknya transaksi rata-rata untuk tiap pelanggan) x penggunaan pengungkit dalam mengembangkan bisnis (idris gautama) 75 rata-rata penjualan rp. . 50.000 perputaran rp.100.000.000 x marjin 20% keuntungan rp. 20.000.000 pengungkit bila ingin mendapat keuntungan lebih maka dapat disimulasikan terhadap angka pada chassis bisnisnya, baik satu per satu maupun tiap komponen chasssis bisnis tersebut. sebagai contoh, bila contoh di atas hanya tingkat konversinya yang dinaikkan 10% maka didapat rumus berikut. potensi 5.000 x tingkat konversi 30% jumlah pelanggan 1.500 x banyaknya transaksi 2 x rata-rata penjualan rp. . 50.000 perputaran rp.150.000.000 x marjin 20% keuntungan rp. 30.000.000 di bawah ini disimulasikan bila semua komponen chassis bisnis dilipatgandakan, apakah keuntungan menjadi berganda atau berlipat ganda, dapat dilihat pada perhitungan berikut. potensi 10.000 x tingkat konversi 40% jumlah pelanggan 4.000 x banyaknya transaksi 4 x rata-rata penjualan rp. .100.000 perputaran rp. 1.600.000.000 x marjin 40% keuntungan rp. 640.000.000 menyimak perhitungan di atas maka bila pengungkit dapat dipergunakan sebagaimana mestinya akan dapat menghasilkan keuntungan yang berlipat ganda. journal the winners, vol. 4 no. 2, september 2003: 72-77 76 pengendalian perlu diperhatikan bahwa penggunaan pengungkit akan bermanfaat bila disertai dengan pengelolaan yang baik (good corporate governance) dan di dalamnya harus sudah menerapkan aktivitas pengendalian (sanyoto, 2003:82-85) sebagai berikut. 1. pemisahaan tugas a. pemisahan pengelolaan aktiva-akuntansi b. pemisahan otorisasi-penangangan aktiva c. pemisahan tugas dalam fungsi akuntansi d. pemisahan tanggung jawab operasi dengan akuntansi/pencatatan 2. prosedur otorisasi 3. dokumen dan pencatatan yang memadai 4. pengamanan fisik 5. verifikasi independen pelaksanaan pengendalian, selain menyediakan pencatataan dan informasi yang dibutuhkan dalam memaksimalkan penggunaan pengungkit, juga bermanfaat untuk menghindari dari kebocoran yang tidak perlu sehingga keuntungan perusahaan benar-benar maksimal dan pada saat yang sama pelaksanaan perusahaan yang sehat dapat dilakukan. penutup simpulan dalam melakukan bisnis, pengunaan pengungkit sebagai alat bantu untuk meningkatkan keuntungan dapat dilakukan. untuk itu, perlu diketahui chassis bisnis yang ada kemudian melakukan penelahaan mendapam pada masing-masing komponennya. pengungkit yang digunakan akan menjadi lebih bermanfaat bila informasi dukungan terhadap komponen chassis bisnis yang akan digunakan sebagai pengungkit tersedia dengan cukup. untuk hal itu, diperlukan adanya pencatatan yang memadai. agar penggunaan pengungkit dalam menaikkan keuntungan menjadi lebih efektif, pengelolaan perusahaan yang baik dan aktifitas pengendalian perlu mendapat perhatian dan dijalankan dengan sebagaimana mestinya. daftar pustaka gondodiyoto, sanyoto dan idris gautama so. 2003. audit sistem informasi: pendekatan konsep. jakarta: pt media glbal edukasi (mcgraw hill). hisrich, robert d. dan michael p. peters. 2002. entrepreneurship. 5th edition. singapore: mcgraw hill higher edcation. penggunaan pengungkit dalam mengembangkan bisnis (idris gautama) 77 hitt, michael a., r. duane ireland, dan robert e. hoskisson. 2001. strategic management competitiveness and globalization concepts. south western college publishing. sugars, bradley j. 2002. billionaire in training. 1st edition. brisbane: action international pty ltd. ______________. 2000. instant cashflow the key to multiplying your business profits. 2nd edition. singapore: action international (asia) pte.ltd. tjager, i nyoman, f. antonius alijoyo, humprey r. djemat, dan bambang soembodo. 2003. corporate governance tantangan dan kesempatan bagi komunitas bisnis indonesia. jakarta: pt prenhallindo. *corresponding author p-issn: 1412-1212 e-issn: 2541-2388 31 the winners, 22(1), march 2021, 31-38 doi: 10.21512/tw.v22i1.6996 interrelatedness between organizational culture and human resource management in the context of corporate entrepreneurship syafri naldi1*; dapit alexsander2; margo purnomo3 1,2,3department of business administration, universitas padjadjaran jl. raya bandung sumedang km. 21, jatinangor, sumedang, jawa barat 45363, indonesia 1syafri19001@mail.unpad.ac.id; 2dapit19001@mail.unpad.ac.id; 3purnomo@unpad.ac.id received: 26th january 2021/ revised: 07th march 2021/ accepted: 12th march 2021 how to cite: naldi, s., alexsander, d., & purnomo, m. (2021). interrelatedness between organizational culture and human resource management in the context of corporate entrepreneurship. the winners, 22(1), 31-38. https://doi.org/10.21512/tw.v22i1.6996 abstract there has been numerous research on corporate entrepreneurship typically referring to organizational culture or human resource management (hrm). the research aimed to complement previous research that had explored the link between entrepreneurship, the culture of organization, and hrm. the purpose of the research was to explain the operationalization of the three principles and to elaborate the interrelationship between them in the context of corporate entrepreneurship. the research used a systematic review process, namely an indepth literature review of results from 25 articles based on certain keywords and limitations. the result produces a model that describes the influence of hrm on organizational culture, which is expected to inspire businesses to adopt an approach to corporate entrepreneurship and enhance the efficiency of the company. future research is suggested to have more than one database and use more research article sources published in over 10-20 years. it is expected that future research come up with extended range of observations and results on how science has progressed. keywords: organizational culture, human resource management, corporate entrepreneurship i. introduction market rivalry is currently very strong and lively, leading to confusion and business mistrust of traditional management practices. companies are obliged to compel corporate entrepreneurship to solve this (kassa & raju, 2020). many factors can describe how entrepreneurial a business is, but creativity is one thing that always occurs in the discussion of this phrase (fiordelisi et al., 2019). the corporate entrepreneurship issue has been around since the 1980s. for creativity, organizational renewal, redefining organisations, establishing and retaining competitive advantage, these elements also include behavioral details (kuratko & hornsby, 2020). in the literature of corporate entrepreneurship, the four dimensions that frequently appear are: 1) corporate venturing, 2) creativity, 3) self-renewal, and 4) constructive (ratten, 2018). corporate entrepreneurship needs the appropriate organizational culture (tajpour & hosseini, 2019). organizational culture at different levels may influence the actions of participants, both workers and executives. one of them helps workers to develop their skills and optimally take advantage of possibilities (rashedi, 2019). the aspects of organizational culture are discussed in many research. some views indicate that the dimensions of organizational culture includes creativity and human interaction (aldhobaib, 2020; hassan, rhee, & dedahanov, 2019), bureaucracy, purpose, adaptability, continuity (beigh et al., 2020), contact and engagement (insan & masmarulan, 2021). human resource management is not only an organizational culture, but also an important factor that cannot be overlooked. the success of an organization can be seen from the capacity of the company to establish and leverage competencies in human resources. in fact, human resource management is said to be a source of sustainable competitive advantage for a company or corporation (ebrahimi et al., 2020). the viewpoint of human resource management typically focuses on programs, networking, recruiting, training and development, and production (hinteregger, 2017). there is a significant connection between organizational culture and corporate entrepreneurship 32 the winners, vol. 22 no. 1 march 2021, 31-38 in several points of view. (arz, 2017; umrani, kura, & ahmed, 2018; üstün & kiliç, 2017). the key factor influencing entrepreneurial operations in an enterprise is organizational culture. similar thing goes for the handling of human resources. human resource management has a huge effect on corporate entrepreneurship (castrogiovanni, urbano, & loras, 2021; salamzadeh, tajpour, & hosseini, 2019) since it is the key vehicle that encourages activities and promotes corporate entrepreneurship (burger & blažková, 2020; lee, 2020). it can be concluded from these statements that a reciprocal relationship exists between organizational culture and human resource management. while there is empirical evidence that human resource management and organizational culture play a role in corporate entrepreneurship, the interconnection between these factors has not been clearly defined. as a result, knowledge of the interplay between organizational culture, human resource management, and corporate entrepreneurship is limited. the research aims to examine the organizational culture and human resource management in corporate entrepreneurship and to explain the interplay between these elements. more precisely, the research intends to be useful in conducting studies on similar subjects related to organizational culture, human resource management, and corporate entrepreneurship. ii. methods the research uses a commissioned systematic analysis (tikito & souissi, 2019). systematic analysis is a 'fundamental science practice' aimed at tracking bias by performing detailed activities ranging from reviews, decision-making, methods, debate and reports to in-depth literature searches of published scientific articles. meta-analysis, which plays a major role in providing a statistical method to synthesize results, is one of the systematic review procedures. the research adopts an approach used by wu & wu (2019) in the course of reviewing this literature, including the steps of the research method provided in figure 1. the first step is to decide the research questions and identify keywords (burger & blažková, 2020; gomezelj, 2016). the goal of the research is to look at the relationship in corporate entrepreneurship between organizational culture and human resource management. the research questions in this systematic review focus on the priorities as seen in figure 1. based on the research questions, the search keywords in the database include intrapreneurship, organizational culture, corporate culture, human resource management, creativity, organizational entrepreneurship, corporate entrepreneurship, corporate enterprises, corporate ventures, and revival of strategy. in addition, in the springerlink database, the search string has been set as shown in table 1, along with the search results. springer online databases is collected since the site includes integrated and trusted international scientific journals and publications from different disciplines. on october 28, 2020, the search took place. the research articles have been searched by means of the springerlink online database published in 2010-2020. to see the most recent research trends, the researchers selected 2020 and ten years back as it is considered not too short to see the evolution of research in organizational culture, human resource management, and corporate entrepreneurship. besides, if the taking period is longer, it will result figure 1 the steps of the research method 33interrelatedness between organizational..... (syafri naldi, et al.) in more posts which will, in turn, requires a longer research time. second, inclusion and exclusion requirements are set as follows: 1) scientific publication in the form of publications from journals, 2) in corporate entrepreneurship, scientific papers address organizational culture and human resource management, 3) english articles, 4) pertinent research. relevance is assessed by group discussions of researchers through reading the entire article content. the research are sorted by removing the ones that do not follow the requirements, such as lecture articles or other non-journal articles, articles that address one of the key topics only, and articles that are not written in english. following this point, 25 research articles are selected and discussed. iii. results and discussions the outcomes of the systematic analysis are divided into four parts. first, there are discussions on publication of the journal and the characteristics of the samples used. the second part identifies the operationalization of organizational culture, human resource management (hrm), and corporate entrepreneurship. third, in the sense of corporate entrepreneurship, the research explores the mediating role of organizational culture and hrm. the final part explains the mechanism of interference that influences the reciprocal relationship between the three variables. the key sources of the journal come from frontiers of business research in china, service business, journal of business economics, and zeitschrift fur betriebswirtschaft. during 2010 to 2020, research related to organizational culture, hrm, and corporate entrepreneurship had been published mostly in 2019, and at least in 2014 and 2015, while there had been no single publication related to the subject in 2016 (see figure 2). the distribution of data is shown in figure 3 based on the methods, the form of businesses, and the subject under discussion. according to these statistics, the quantitative approach is the most commonly used, with a total of 12 publications with the most discussion topics on employee performance (5) as well as creativity and innovation (3). in addition, qualitative approaches, a blend of quantitative and qualitative, literature analyses, and systematic reviews are available. on the other hand, companies in general (8) and the service sector (7) are the most discussed forms of businesses (7). both of them also spoke about creativity and innovation (3) as well as employee performance (2). based on table 2 it can be seen that from 2010 to 2020, research related to organizational culture, hrm, and corporate entrepreneurship had been mostly conducted in china and germany. there are five research conducted in general which did not apply to one country since it only discusses literature review. industrial fields that are the subject of numerous studies include the manufacturing sector (brenk et al., 2019; zhu, liu, & chen, 2018), the service industry (fernandes, ferreira, & marques, 2013; huang, 2014; manca et al., 2018), health institutions (nöhammer & stichlberger, 2019), educational institutions (nöhammer & stichlberger, 2019), specialty in table 1 search results on the springerlink database no. search string search result outcome complies electronically with inclusion requirements assessment of significance based on community discussion 1. intrapreneur* and (“organizational culture” or “corporate culture”) and “human resource management” 74 3 3 2. innovation* and (“organizational culture” or “corporate culture”) and “human resource management" 3148 90 23 3. (“organizational entrepreneur*” or “corporate entrepreneur”) and (“organizational culture” or "corporate culture”) and “human resource management” 0 0 0 4. (“organizational venture*” or “corporate venture*”) and (“organizational venture” or “corporate venture”) and “human resource management” 0 0 0 5. “strategic renewal” and (“organizational culture” or “corporate culture”) and “human resource management” 325 10 5 34 the winners, vol. 22 no. 1 march 2021, 31-38 hospitality (cheng, et al., 2018; espino-rodríguez & ramírez-fierro, 2018), technology-based businesses (jiao, wei, & cui, 2010), small and medium-sized enterprises (saunila et al., 2020), start-ups (tumasjan, strobel, & welpe, 2011), and companies in general (petti & zhang, 2011; song, li, & qiu, 2010). figure 3 provides the overview. figure 2 number per year of publications figure 3 data distribution centered on research methods, business types, and topics addressed table 2 total of publication by nation no. country name number of publications 01. austria 2 02. china 7 03. finland 1 04. german 5 05. portugal 1 06. taiwan 2 07. spanish 2 08. general 5 the complexities of conceptualization are demonstrated by the operationalization of organizational culture, hrm, and corporate entrepreneurship as it is used in different industries, such as technology, education, health, and so on. organizational culture is an important attribute of work (tumasjan et al., 2011), an intangible asset (wang, 2011) in the form of attitudes, beliefs, experiences, and a management strategy that defines and guides the efforts of companies (saunila et al., 2020) and is shaped by management-promoted values (nöhammer & stichlberger, 2019). organizational culture refers to the patterns of beliefs and perceptions that affect individual actions held by organizational members. organizational culture often contributes to the development of expertise on the part of various staff members of different skills, in which strong and effective collaboration helps them to solve problems together and create synergistic results (fernandes et al., 2013). the organizational culture discussed in the reviewed article includes culture that encourages creative conduct (nöhammer & stichlberger, 2019; song et al., 2010), entrepreneurial culture or entrepreneurial orientation (jiao et al., 2010; c zhu et al., 2018) a creative culture stresses the embrace of more challenges and risks. companies with certain cultural elements are more likely to innovate (song et al., 2010). entrepreneurial orientation can be seen as an organization's mentality that represents the attitude of entrepreneurship when starting a new company. attitude is a central aspect of corporate culture that can be expressed in behaviors such as day-to-day activities and decision-making (zhu et al., 2018; zhu, liu, & wang, 2019). furthermore, there is talk of business orientation culture. this organizational culture is considered to be the most productive and successful in developing the behaviors required for purchasers to build superior value and companies to achieve superior performance. an accessible organizational culture positively affects the organization's creative capacity. the culture of uncertainty prevention is also critical for organizational decision-making (song et al., 2010) and for technical entrepreneurial attitudes (petti & zhang, 2011). the organizational culture that is established in hospitality is confidence and sharing, encouraging productive training and creating a fun learning atmosphere. artists, workers and managers may identify with one another when hotels form an organizational culture of trust and cooperation. there is a harmonious corporate atmosphere for service companies such as hotels, in which workers should be encouraged to share and develop new information (cheng et al., 2018). regarding hrm operationalization, by focusing on training and development, introducing an incentive system (for creative behavior), maintaining job security, offering autonomy, interesting task composition and adequate resources, hrm plays an important role in developing supportive settings for innovative work behavior. the need of work and ensuring feedback is welcomed (nöhammer & stichlberger, 2019). hrm is linked to the success of businesses in recruiting, 35interrelatedness between organizational..... (syafri naldi, et al.) sustaining and retaining workers. a relationship that impacts each other is the resulting relationship. hrm will foster the entrepreneurial spirit of an organization through organizational learning (zhu et al., 2019). furthermore, organizational learning and hrm would promote the formation of dynamic skills (jiao et al., 2010). in addition to the external environment, internal factors, organizational culture, information technology and so on, hrm is one of the factors affecting organizational learning (zhu et al., 2019). learning orientation can establish art-based highperformance human resource practices in servicebased businesses such as hotels to help workers develop skills, expertise, motivation and opportunities to provide fulfilling service (cheng et al., 2018). hrm is most frequently associated with highlevel performance processes or high-performance work systems (hpws). this method is also known as high-performance work practices, high-commitment work systems, or high-involvement work systems, which is generally characterized as a collection of collaborative practices for managing human resources. the practices include scientific recruitment procedures, comprehensive training, authorization, decision-making engagement, performancebased compensation, and knowledge sharing. high-performance work systems can engage with organizational learning and create synergistic results to enhance organizational performance. managers must also establish structured human resource strategies to devise strategic advantages and outperform market rivals (zhu et al., 2019). hpws represents strategic hrm's core theory and practice, and influences employees' perceptions, talents and actions by finding and using information to achieve organizational objectives (zhu et al., 2018). finally, hrm is associated with the resilience definition (buliga, scheiner, & voigt, 2016), associated with market performance information management techniques and it strategies (huang, 2014), and dedication. the dedication created by human resource (hr) activities will enhance efficiency by growing employees' willingness to work together to build and share information. in another way, human resource management has an impact on organizational efficiency (saunila et al., 2020). the application of corporate entrepreneurship is not explicitly mentioned by all research articles. in their clarification, some research addressing corporate entrepreneurship use the phrase creative or entrepreneurial orientation. corporate entrepreneurship is also synonymous with learning and creativity, or with expertise. corporate entrepreneurship through organizational learning will promote organizational success. the corporate entrepreneurship method turns new knowledge into new goods, processes or services, and only workers with special experience and entrepreneurial abilities can accomplish this. thus, corporate entrepreneurship is deemed to improve workers' creative skill. effectiveness is an effective approach to corporate entrepreneurship as it can cope with high volatility in corporate ventures and risky innovation initiatives (brenk et al., 2019). spin-alongs are organizational designs that can promote corporate entrepreneurship. the complex design can help businesses navigate different innovation initiatives. a creative mindset or a passion for creativity is characterized by corporate entrepreneurship. innovation potential is a strategic force defined by the orientation of consumers, the orientation of people, the existence of a plan for prospectors and the incentive of a manager to develop new services for underserved markets. (hallak et al., 2018). innovation is an essential part of competitive advantage (saunila et al., 2020). it is believed that companies are to be imaginative, creative, cooperative, able to take chances and display engaging actions and appreciation for uncertainty (tumasjan et al., 2011). they must be able to match service innovation with the strategic application of information technology in service-based businesses. performance of service innovation serves as a portal for businesses to retain or capture the market, meet consumer expectations, accelerate service innovation success rates, and ensure business growth and profitability (huang, 2014). in addition, businesses should aspire to use technological innovation since the entrepreneurial aspect of technological innovation is necessary for the effective production and promotion of a company’s new product (petti & zhang, 2011). it is believed that entrepreneurial orientation enhances efficiency. when creativity and entrepreneurship are promoted by the external environment and internal organizational policies, entrepreneurial orientation is positively linked to organizational efficiency. moreover, dynamic price controls and risk-taking skills are essential to stay competitive in the global marketplace (zhu et al., 2019). in the context of corporate entrepreneurship, the results suggest a reciprocal connection between organizational culture and hrm. organizational culture is said to facilitate successful training and create a fun learning environment (jiao et al., 2010). entrepreneurial culture and style of leadership may help employees to have loyalty and identity. organizational culture often contributes to the development of expertise on the part of various staff members of different skills, in which strong and effective collaboration helps them to solve problems and produce synergistic results (fernandes et al., 2013). this implies that corporate culture facilitates the development of hrm, which in turn affects team’s success (manca et al., 2018). these views suggest that hrm is a tool for companies to understand the ideals or culture of the company to achieve success. hrm environments can foster an organizational culture that is entrepreneurially focused, such as a creative and constructive culture (zhu et al., 2019) on the other hand, corporate entrepreneurship is influenced by hrm. human skills have a huge effect on total production, productivity of labor, and efficiency of innovation (saunila et al., 2020). people can increase their capabilities and generate innovations 36 the winners, vol. 22 no. 1 march 2021, 31-38 through hrm. organizational culture and hrm may also be influenced by corporate entrepreneurship. it is said that corporate culture, organizational structure, and/ or the external environment can affect the relationship between entrepreneurial orientation and company results, among other things (cui et al., 2018). entrepreneurial orientation has a significant effect on organizational culture, internal operating processes, organizational learning, and improved skills (jiao et al., 2010). entrepreneurial orientation can be seen as an organizational attitude that reflects entrepreneurial attitudes and desire to start a new company (petti & zhang, 2011). the research develops a model that demonstrates the connection between human resource management, organizational culture, and corporate entrepreneurship. in a nutshell, human resource management shapes and defines an organizational culture. a particular organizational culture demonstrates that the organization or company is committed to corporate entrepreneurship. human resource management can also assist in the realization of corporate entrepreneurship. on the other hand, organizations that promote the idea of corporate entrepreneurship must have an organizational culture that embraces it, which would have an effect on human resource management. the interconnection model of these three concepts can be seen in figure 4. figure 4 an interconnection model of organizational culture and hrm in the context of corporate entrepreneurship for all employees, an organization must have management in the form of settings, system, training, and development. this management takes on the role of a leader style. the characters that are created have an effect on the organizational culture, both individually and collectively. learning orientation and commitment are two characteristics of an organizational culture that promotes corporate entrepreneurship. corporate entrepreneurship can be realized with human capital (formed by hrm) that is geared toward learning and commitment, as well as developments in both mechanical and digital technology. organizations that promote corporate entrepreneurship are risk-takers, market analysts and controllers, as well as innovative and creative thinkers. companies that are good at running their businesses may typically be identified by their performance in terms of product or service quality, productivity, and customer satisfaction. corporate entrepreneurship is an ideology that allows employees to think and behave like entrepreneurs when working within the boundaries of today's corporate structure. corporate entrepreneurship, in other words, fosters a particular organizational culture. employees with the right vision and expertise are encouraged to pursue opportunities and develop ideas for new, innovative goods, services, or even business lines in corporate entrepreneurship. iv. conclusions depending on the type of organization, the operationalization of organizational culture, hrm and corporate entrepreneurship, it is found that the implementation is different in each organization. even so, it does not mean that there is little in common at all. it is frequently encountered that organizational culture facilitates an atmosphere of creative and entrepreneurial orientation. in servicebased organizations or enterprises, priority is given to service quality and learning-oriented organizational culture. in the operationalization of hrm, learning orientation is a way to enhance skills by sharing information and continuing to learn. a highperformance work method that involves interactive hrm activities often occurs, including scientific recruiting processes, comprehensive training, authorization, decision-making involvement, performance-based rewards, and exchange of knowledge. finally, in corporate entrepreneurship operationalization, innovation is correlated with the operationalization of this notion. in addition, it is also related to being innovative, willing to take risks, and able to analyze and influence the demand. corporate entrepreneurship, organizational culture and hrm have a reciprocal relationship. organizational culture encourages the growth of hrm, while organizational culture may be strengthened by hrm. these two principles both inspire businesses to pursue an approach to corporate entrepreneurship. organizational culture, hrm and corporate entrepreneurship eventually lead businesses to maximize their performance and boost the quality of the product, company productivity, and customer satisfaction. the research can be established theoretically and methodologically. theoretically, since every organization and business is fundamentally different from each other, the dimensions of the interconnection model of organizational culture and hrm in the sense of corporate entrepreneurship can be further established. furthermore, the challenges facing organizations can change over time, affecting hrm environments and 37interrelatedness between organizational..... (syafri naldi, et al.) their organizational culture. besides, the research can be methodologically built by other approaches, such as qualitative ones. the research subjects might not be as many as the quantitative research subjects in a qualitative approach, but the data and discussion might be more comprehensive and detailed. finally, the research, however, is subject to several limitations. first, since this analysis only uses one database source, the research articles reviewed only come from certain publishers. second, the reviewed articles were written over a 10-year period. it seems difficult to see how research on similar topics has progressed. regarding systematic review literature, future research can use more than one database and use a longer publication period such as 15 or 20 years. it is expected that future research result in a wider range of observations and a better understanding of how science progresses. references aldhobaib, m. 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(2019). base-of-thepyramid (bop) orientation and firm performance: a strategy tripod view and evidence from china. international business review, 28(6). https://doi. org/10.1016/j.ibusrev.2019.101594. in pr es s *corresponding author p-issn: 1412-1212 e-issn: 2541-2388 95 the winners, 23(2), september 2022, 95-102 doi: 10.21512/tw.v23i2.7066 domestic credit and stock market impact on economic growth: new evidence in asean-5 countries tuti eka asmarani1*; endah ayu ningsih2 1management, economy faculty, gunadarma university jl. margonda raya no. 100, depok 16424, indonesia 2the research center of international trade cooperation, ministry of trade of indonesia jl. m.i. ridwan rais no. 5, main building 15th floor, gambir, jakarta 10110, indonesia 1tutiekaasmarani@gmail.com; 2ayuningsih.endah@gmail.com received: 16th february 2021/ revised: 06th november 2021/ accepted: 08th november 2021 how to cite: asmarani, t. w. & ningsih, e. a. (2022). domestic credit and stock market impact on economic growth: new evidence in asean-5 countries. the winners, 23(2), 95-102. https://doi.org/10.21512/tw.v23i2.7066 abstract capital accumulation and technological innovation had been the two channels through which the financial sector plays a vital role in the growth of economy. however, there are some different results between banking and stock market. the research tested the solow-swan growth model augmented with financial markets to show that domestic credit markets and equity from stock markets are two long run determinants of gross domestic products (gdp) per capita in five asean countries: indonesia, malaysia, singapore, thailand, and philippines. the research used data from 2000 to 2019 tested with panel regression. the result shows that all determinant variables have a positive impact on economic growth. the domestic credit also has a higher impact on the growth of economy than the stock market. in addition, domestic credit and stock market has statistically significant positif impact to economic growth accros 5 asean countries. the research also finds that although population in five asean countries give positive effect to economic growth, it is statistically not confincing. it is suggested that people in asean have already used technology, so population augmented encourages economic growth. keywords: domestic credit, stock market, economic growth, financial development, asean i. introduction interest in economic growth has always been at the centre of literature in development economics, and it is one of the most fascinating topics in developing countries (malarvizhi et al., 2019). financial markets are a main factor establishing strong economic growth since they contribution economic efficiency by diverting financial funds from unproductive to productive uses (durusu-ciftci, ispir, & yetkiner, 2017). furthermore, the banking system plays an important role in economy (durusu-ciftci et al., 2017). according to levine (1997), there are five main roles of the financial markets, such as assisting in savings mobilization and resources allocation, corporate control exertion, and risk management facilitating, and trading ease of goods, services, and contracts. levine (1997) adds that the growth of economy is possible by capital accumulation and technological innovation as these greatly affect the monetary system that influences economic development. some studies conduct in several countries have shown the importance of financial development in supporting the growth of economy (bencivenga & smith, 1991; levine, 1997; greenwood & smith, 1997). asteriou et al. (2019) revealed that in the european union economy during the period 1990-2016 financial development was proven to encourage economic growth in the pre-crisis period, but after the crisis, it hindered economic activity. in financial development, domestic credit is an important role. if the domestic credit from banks were used to purchase productive resources, it helps in economic growth and adds to income since bank functions as financial intermediaries (camba & camba, 2020). other than domestic credit, stock markets may affect economic activity through the creation of liquidity. many profitable investments require a longterm commitment of capital, but investors are often reluctant to relinquish control of their savings for long periods. liquid equity markets make investment less risky—and more attractive—because they allow savers to acquire an asset—equity—and to sell it quickly and in pr es s 96 the winners, vol. 23 no. 2 september 2022, 95-102 cheaply if they need access to their savings or want to alter their portfolios. at the same time, companies enjoy permanent access to capital raised through equity issues. by facilitating longer-term, more profitable investments, liquid markets improve the allocation of capital and enhance prospects for long-term economic growth (levine, 1996). durusu-ciftci et al. (2017), guru & yadav (2019), sharma and kautish (2020), and camba and camba (2020) show that domestic credits and stock market are determinants of economic growth in the long run period. durusu-ciftci et al. (2017) developed a solow-swan’s growth model to investigate the role of financial development on the economic growth. the data are collected from a panel of 40 countries from 1989 to 2011. the results show that domestic credit and stock market made a long-term positive contribution on a steady state level of gross domestic product (gdp) per capita, and the contribution of the domestic credit markets is significantly higher than that of other factors. guru and yadav (2019) examine the relationship between financial development and economic growth for five major emerging economies: brazil, russia, india, china, and south (brisc) during 1993-2014 using domestic credit to deposit ratio and domestic credit to private sector for banking indicator, and value of shares traded and turnover ratio for stock market indicator. in addition, some macroeconomic control variables such as inflation, exports, and the enrollment in secondary education are used. a positive association between financial development and growth indicates that the policymakers should take necessary measures toward simultaneous development of both banking sector as well as stock market for inducing growth. sharma and kautish (2020) investigate the impact of financial sector development on gdp growth in the four middle-income countries of south asia over the period of 1990–2016. using pooled mean group (pmg) estimation, the research tries to examine whether in these developing countries, gdp growth has been influenced by size of market capitalization and size of market turnover in the long run which are used as proxy for stock market development. similarly, domestic credit to private sector is used as proxy for banking sector development while assessing its long-run impact on gdp growth. furthermore, by incorporating a dummy variable for the global financial crisis (2007–2008), the research investigates whether these economies are vulnerable to external shocks or not. the research results find that the impact of banking sector on gdp growth has relatively remained low in the region. nevertheless, the development in both sectors has positively influenced economic growth in the long run. the outcomes of research suggest that both stock market and banking sector are vital determinants of long-run economic growth in the south asian countries. camba and camba (2020) examine the dynamic relationship of domestic credit and stock market liquidity on the economic growth of the philippines from 1995 to 2018 applying the autoregressive distributed lag (ardl) bounds testing approach to cointegration, together with granger causality test based on vector error correction model (vecm). the ardl model indicated a long-run relationship of domestic credit and stock market liquidity on gdp growth. when the gdp per capita is the dependent variable there is weak cointegration. moreover, the johansen cointegration test confirmed the existence of long-run relationship of domestic credit and stock market liquidity both on gdp growth and gdp per capita. the vecm concludes a long-run causality running from domestic credit and stock market liquidity to gdp growth. the previously mentioned research have indicated that the development of economy is greatly affected by a financial system. however, banking and stock market contribute to the economy quite differently. sharma and kautish (2020) show that impact of banking sectors on economic growth are relatively lower than other factors, while durusuciftci et al. (2017) find the opposite. another research examines the effect of the financial development on economic growth in a variety of ways and with different proxies. ibrahim et al. (2018), wu, huang, and chang (2020), tariq, khan, and rahman (2020), chen et al. (2020), kumar and paramanik (2020) investigate the impact of financial development to economic development. ibrahim et al. (2018) examine the impact of finance on economic growth is conditioned on the initial levels of countries’ income per capita, human capital, and financial development for 29 sub-saharan africa countries over the period 1980–2014 using a sample splitting and threshold estimation technique. the findings show that, while financial development is positively and significantly associated with economic growth, below a certain estimated threshold, finance is largely insensitive to growth while significantly influencing economic activity for countries above the thresholds. the main conclusion drawn is that higher level of finance is a necessary condition in long run growth and so are the overall level of income and human capital. tariq et al. (2020) find similar result when examined the non-linear relationship between financial development and economic growth in pakistan using the threshold regression model for the period 1980-2017. the research employs quantile regression with 0,25; 0,50; and 0,75 quantiles of conditional distribution. the quantile regression is based on minimizing of sum of squared residuals. the result indicates that economic growth responds positively to financial development when the level of financial development surpasses the threshold value of 0,151. however, when financial development lies below 0,151, its impact on economic growth is negative. thus, when financial development of pakistan surpasses the threshold level, it contributes more towards economic growth since greater level of financial development contributes more to boosts economic growth. chen et al. (2020) and kumar and paramanik in pr es s 97domestic credit and stock market impact.... (tuti eka asmarani; endah ayu ningsih) (2020) examine in what condition the financial development will constantly intensify economic growth. chen et al. (2020) analyze the asymmetric effects of financial development on economic growth using a model augmented with inflation and government expenditure asymmetries to inform model specification in kenya from 1972-2017. results clearly demonstrate to an environment steered by stable and sustainable inflation that regulated goverment expenditure and comprehensive financial system deepening would positively cause economic growth. therefore, appropriate policies that favor low inflation and reduced government spending, expansion of feasibly reformed financial institutions, capital accumulation, and increased resource mobilization should be instituted if real growth is to positively happen. kumar and paramanik (2020) examine the nexus between financial development and economic growth in india during q1: 1996 to q3: 2018. this study employs time-series data of real gdp and ratio of broad money to gdp as a proxy for economic and financial development, respectively. the data are obtained from rbi database on the indian economy. all variables are seasonally adjusted using x12-arima technique and expressed in natural logarithm form. non-linear autoregressive distributed lag (nardl) bound test has been used to check for cointegrating relationship of these two variables. empirical findings suggest that, unlike in the short run, in the long run financial development impacts economic growth positively. meanwhile, wu et al. (2020) investigate the relationship between financial development and economic growth in two directions across major asian economies during the period 1960-2016 by using a recently developed bootstrap autoregressive distributed lag (ardl) test with structural breaks. the result suggests the government in japan and india keep their steps to regard financial development as an instrument to foster economic growth. on the other hand, economic growth is considered as an engine to promote financial development for sustainability. in china, the government may set proper regulations in financial market. additionally, the government may monitor the domestic credit performance to state-owned enterprises and investigate the process of financial resource from input to output, in order to improve financial efficiency and thereby, robustly contribute to economic growth. other research use financial market indicator such as stock market, domestic credit, and banking system to investigate the effect of financial development on economic growth. aali-bujari, venegas-martínez, and pérez-lechuga (2017), fufa and kim (2018), chu (2019), and barradas (2020) exercise the stock market and banking system as financial development indicator. fufa et al. (2018) examine the link between stock markets, banks system, and economic growth in european and non-european high-income countries as well as upper and lower middle-income countries averaged over five and three years for the period of 1989-2012 by using the dynamic panel generalized method of moment (gmm) estimator. the results state that the link between finansial development and economic growth depends on the stages of economic growth of the countries. chu (2019) applies a panel dataset of 94 countries from 1968 to 2015 and system generalized method of moments estimation. the findings show that both banking sector and stock market development have positive effects on economic sophistication. while aali-bujari et al. (2017) and barradas (2020) find different results. aali-bujari et al. (2017) use a panel data model in latin america from 1994 to 2012 and barradas (2020) estimates a linear and non-linear growth model for data set in portugal from 1977 to 2016. their findings show that the stock market capitalization has a positive impact on the economic growth, while banking gave a negative effect on the economy. furthermore, barradas (2020) showed that there are a concave quadratic relationship between the banking system and economic growth, and a convex quadratic relationship between the stock markets and economic growth. the policy makers should put effort to decrease the importance of banking system and to increase the importance of stock market to support more robust economic growth in the coming years. since their excellent performance after financial crisis, asean countries have got a numerous attention from researchers studying on economic growth subject (malarvizhi et al., 2019; haini, 2020; nasir, duc huynh, & xuan tram, 2019; ho, pham, & nguyen, 2021). similar with most of other asian countries, asean have succeeded to turn their economic down turn due to financial crisis in 1997 to a significant economic block (nasir et al., 2019). according to the mckinsey global institute (mgi) report, asean economies are among the world's outperforming emerging economies with a positive prospect of long-term growth (nasir et al., 2019). one of the big achievements in asean countries economies are financial sectors (ho et al., 2021). the research attempt to investigate the impacts of domestic credit and stock market on the economic growth of five asean countries (indonesia, malaysia, singapore, thailand, and philippines) last 20 years by adopting augmented solow-swan growth model (durusu-ciftci et al., 2017). earlier research examining the financial development and economic growth in asean countries have been conducted by malarvizhi et al. (2019), nasir et al. (2019), haini (2020), and ho et al. (2021). malarvizhi et al. (2019) and ho et al. (2021) only focus on financial development in the form of domestic credit, either through banks or non-bank systems and domestic investment. haini (2020) calculates economic growth based on labor productivity and financial development focusing on institutional aspects. several previous research examine the impact of financial development on economic growth generally using financial indicators as a ratio of gdp as determinants variable of economic growth which also contains gdp measure in pr es s 98 the winners, vol. 23 no. 2 september 2022, 95-102 (durusu-ciftci et al., 2017; malarvizhi et al., 2019; ho et al., 2021). those exogenous and endogenous variables become risk to endogeneity problem. this research attempt to test the financial development as a level of domestic credit to private sectors and stock market value (also known as market capitalization) as a determinant of economic growth using panel regression. thus, the research is not only expected to justify the theory but also complete the empirical analysis in different approach. hopefully, domestic credit will grow rapidly to encourage the growth of real sector. ii. methods the research used the improved growth model of solow-swan to investigate the effects of both stock market and domestic credit, on the economic growth in the long-term. the output per efficient capita at the steady-state condition is shown in the equation: (1) when the equation is converted to the natural log, it yields the equation: (2) in the equation (2), is the output per efficient capita at the steady-state condition. equation (2) is used determine the contribution of both the domestic credit market and stock market to the development of the economy in the long-term. assuming that a0 is the initial technological progress, equation (2) can be changed to: (3) in addition, to measure the contribution of both markets to the gdp in the long term, the empirical equation is used. (4) the three coefficients in the equation, β2, β3, and β4 show the contributions of the development of the domestic credit market, the development of the stock market, and the growth of the employment rate respectively. these are affected by two aspects, which are technology and depreciation. β2 and β3 are expected to show a positive result, while β4 is expected to show a negative result. lastly, ɛi,t is the error, while the subscript (t =1,2,---,t) denotes the time period. the research uses panel data as the empirical model to predict the impact of financial development on economic growth in selected asean countries and collect data from the world bank. the panel data consists of those from the 2000-2019 period of from five asean member countries, namely indonesia, thailand, singapore, philippines, malaysia, and singapore. the best model is selected from the three model in panel data which are pooled ordinary least square (pooled ols), fixed effect model (fem), and random effect model (rem). pooled ols regression determine that intercept and slope do not change in every i and t (hill, griffiths, & lim, 2011). yit=β1+β2scmit+β3ssmit+β4popaugit+εit (5) on the other hand, fem or fixed effect model determine that intercept change i and t with constant slope (hill et al., 2011). yit=β1i+β2scmit+β3ssmit +β4popaugit +γ1indonesia1t +γ2malaysia2t +γ3philipines3t +γ4singapore4t +γ5thailand5t +δ12000i1+.... +δ20 2019i20 +εit (6) to select the best model, the research applies a simple chow test with restricted residual sums of squares (rrss), which is a simple test of ordinary least square on the pooled ols model, and the unrestricted residual sums of squares (urss), which is a simple test of the fem (least square dummy variable/ lsdv regression), with the equation (baltagi, 2005): fstat= (rrss-urss)\/(n-1) h0 ~ f(n-1,n(t-1)-k) (7)urss/(nt-n-k) in equation (6), n is individual, t is time, while k is an independent variable. if the value is fstat > ftable or the probability is f < 0,05, h0 (pooled) is rejected, while h1 (fixed) is accepted. furthermore, random effect determine that error change i and t with constant slope (hill et al., 2011). yit=β1i+β2scmit+β3ssmit+ β4popaugit εit (8) β1i=β1+εit (9) in pr es s 99domestic credit and stock market impact.... (tuti eka asmarani; endah ayu ningsih) yit = β1 + β2scmit + β3ssmit + β4popaugit + εi + uit (10) yit=β1+β2scmit+β3ssmit+β4popaugit+wit (11) wit=εi+uit (12) the breusch and pagan lagrangian multiplier test is also applied to decide on the best model between pooled ols and random effect model or rem (hill et al., 2011). yit=β1+β2scmit+β3ssmit+β4popaugit+εi (13) ε̂it = yit b1 b2scmit b3ssm3it b4popaug4it (14) (15) if the lm value is lm > ⱬ(1-α) , h0 (pooled) is rejected at a significance level α, and the alternative hypothesis, h1 (random), is accepted. furthermore, the research employs the hausman test to determine the best model between fixed and random models (hill et al., 2011). var(bfe,k bre,k) = var(bfe,k) + var(bre,k) 2cov(bfe,k,bre,k) = var(bfe,k) var(bre,k) (16) (17) if the result of the t-test is t-test > 1,96 (using the standard 5% of the large sample critical value), h0 (random) is rejected, and h1 (fixed) is accepted. in addition, the research applies variables as shown in table 1. iii. results and discussions the three models are compared in panel data (ols, fixed effect, and random effect) by chow, hausman, and breusch-pagan tests to examine the impact of financial development on economic growth. the best model is the random model, as shown in table 2. table 2 choice the best model test choice model prob significance best model chow 0,0000 0,05 fem breusch-pagan 0,0000 0,05 rem hausman 0,5981 0,05 rem source: stata processed result (2020) prob : probability fem : fix effect model rem : random effect model table 1 proxy and source of variables variable proxy source economic growth gross domestic product (gdp) refers to the sum of gross value added by all producers in the economy besides any product taxes and minus any subsidies excluded in the value of the products. the calculation is conducted without making deduction for depreciation of fabricated assets or for degradation or depletion of natural resources. the current us dollars is used in the data. world bank domestic credit domestic credit to private sector: domestic credit to private sector refers to financial resources provided to the private sector by financial corporations, such as loans, purchases of nonequity securities, and trade domestic credits and other accounts receivables, establishing a claim for repayment. these claims include domestic credit to public enterprises for some countries. world bank stock market market capitalization (also well-known as market value) refers to the share price multiplied by the number of shares outstanding (including their several classes) for listed domestic companies. us dollars is used in the data. world bank population augmented population aged 15-64 (% of the total population) is the total population of those aged 15 to 64 years old as the percentage of population in total. the data are augmented by technology and depreciation on the natural log of income per capita {the growth rate of technology = 0,025, and the rate of depreciation = 0,025. their sum is 0,05 (mankiw, romer, & weil et al., 1992). world bank source: (the world bank, 2019) in pr es s 100 the winners, vol. 23 no. 2 september 2022, 95-102 table 3 output random model lny coef. st.err. t-value p-value sig lnscm 0,557 0,035 16,09 0,000 *** lnssm 0,124 0,027 4,66 0,000 *** popaug 0,050 0,008 6,42 0,000 *** constant 1,961 0,550 3,57 0,000 *** *** p<0,01, ** p<0,05, * p<0,1 (paralel; menunggu konfirmasi author). source: stata processed result (2020) based on the output of the random effect model, all of the variables have a positive impact on economic growth. domestic credit contributes 0,557% to economic growth, while the contribution of the stock market is only 0,124%. both have the expected sign, namely that domestic credit and stock market have an important role in economy. in contrast, augmented population contributed 0,050% to economic growth, but it does not have an expected sign. this is because many people in asean have already used technology; as a result, increasing population has led to economic growth. the result is supported by durusu-ciftci et al. (2017), who state that domestic credit has a higher impact on economic growth than stock market. consequently, domestic credit in the five asean countries is stimulated by maintaining a low interest rate. the higher the domestic credit, the more improved the economic growth is. from july 2016, bank negara malaysia (bnm) maintained the interest rate at 3,0% in regard to catching up with growth momentum, particularly those sourced from domestic demands. however, at the beginning of 2017 bnm raised its interest rates as much as 25 bps to 3,25% because of the global and domestic economic strengthening, mainly from consumption and investment. the bank of thailand (bot) maintained a policy interest rate of 1,5% to ensure the path of economic recovery. the philippines’ monetary authority also kept a 3% policy interest rate. the monetary authority of singapore (mas) reaffirmed the neutral monetary policy stance with the appreciation rate of singapore dollar nominal effective exchange rate (s$neer) at 0% to promote economic growth while maintaining financial stability (divisi penelitian dan asesmen internasional, 2018). indonesia also applied the low interest rate as other asean countries did. bank indonesia (bi) made the decision to keep the bi 7-day (reverse) repo rate at 4,25% to maintain the stability of macroeconomic and financial systems and to support domestic economic recovery while considering the dynamics of the global and domestic economies (bank indonesia, 2017). global financial markets show a tremendous variety of developments. better global economic performance has pushed global stock prices to a relatively high level. the economic performance of the developed countries is relatively better than that of developing countries (divisi penelitian dan asesmen internasional, 2018). in 2018, bank negara malaysia (bnm) remained applying the level of the interest rate. nevertheless, the philippines’ monetary authority and bank of thailand upstretched a benchmark of the interest rate about 25 bps to address the risks of financial sector instability. the philippines had 4,75%, and thailand had 1,75%. it also happened in singapore, in which monetary authority of singapore (mas) announces a slight increase in the slope of the s$neer policy band (divisi penelitian dan asesmen internasional, 2018). bi at that time still made the decision to apply bi 7-day (reverse) repo rate at 6%. bi believed in the consistency of the policy interest rate with the endeavor to decrease the deficit of the current account to secured and sustained limits, and the domestic financial asset attractiveness, which includes taking into account the trend of movement in global interest in the next few months (bank indonesia, 2018). the high uncertainty in the stock market is reflected in the volatility index spike. the increase of the volatility index spike on the tw4-18 was due to the issue of global slowdown and the uncertainty of us-china trade negotiations. the dynamic has triggered investors to move their assets from the stock market to other safe haven assets, such as bonds (divisi penelitian dan asesmen internasional, 2018). in 2019, to respond to the generally weak economic performance, the monetary authority continued the stance for accommodating monetary policy. the philippines defended its interest rates of 4%. thailand and malaysia lowered the interest rate by 25 bps to 1,25% and 2,75% respectively. meanwhile, the monetary authority of singapore (mas) lowered the appreciation slightly over rate from the s$neer policy to address the slowdown of singapore's economic growth (divisi penelitian dan asesmen internasional, 2019). bi still made the decision to maintain the bi 7-day (reverse) repo rate by 5%. bi has made some effort to keep momentum domestic economic growth in the middle of the global economic slowdown (bank indonesia, 2018). in addition, the global stock market strengthened on the tw4-19, as the action of investor is good for the emerging markets and developed countries. the action risk on investor stock market was triggered by the positive development of us-china trade negotiations that lowered global uncertainty (divisi penelitian dan asesmen internasional, 2019). the research is in line with the current condition, where the banking sector in developing countries has grown faster than developed countries. this is in contrast with stock market, where stock market in developed countries has grown faster than in developing countries. iv. conclusions financial market has five roles in economy which are support mobilization of savings, resource allocation, corporate control exertion, facilitate risk management, and ease of goods, service, and in pr es s 101domestic credit and stock market impact.... (tuti eka asmarani; endah ayu ningsih) contracts trading. financial market encourages economic growth via two means, namely influencing the steady-state development of capital accumulation and technology innovation. the research tests the augmented solow-swan growth model to confirm the most significant impact on the growth of economy between banking domestic credit and stock market in asean selected countries from 2000 to 2019. the research finds that domestic credit in the five asean countries is stimulated by maintaining a low interest rate. therefore, the higher the domestic credit, the more improved the economic growth is. in contrast, global financial markets indicate a high variety of developments. better global economic performance has surpassed expectations and encouraged global stock prices to a relatively high level. the economic performance of the developed countries is relatively better than that of the developing countries. the research finds that the uncertainty is high in the stock market which shown by the volatility index spike. the rise of the volatility index spike on the tw4-18 was due to the issue of global slowdown and the uncertainty of us-china trade negotiations. it triggered investors to move their assets from the stock market to other assets, such as bonds. moreover, since the action of investor was considered good for the emerging markets and developed countries, the global stock market strengthened on the tw4-19. the positive development of us-china trade negotiations lowering global uncertainty trigger the action risk on stock market investors. the research results indicate that the contribution of domestic credit is substantially higher than stock market. thus, the findings support the view that domestic credit market-based financial systems are more likely to promote long-term economic growth. in this regard, the research recommend that emphasis should be on implementing government policies which lead to the deepening of the domestic credit market. with the respect to lower stock market effects on economic growth, governments should takesome essential measures to enhance investor confidence such as macroeconomic stability. moreover, there is need for institutional and legal improvements that strengthen domestic creditor and investor rights and contract enforcement. the research is lack of other control variabel as determinant of economic growth such as capital accumulation and technology. domestic credit does not count the non-banking private sectors. the research suggests the next research might elaborate more determinants of economic growth. references aali-bujari, a., venegas-martínez, f., & pérez-lechuga, g. 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(2020). the nexus of financial development and economic growth across major asian economies: evidence from bootstrap ardl testing and machine learning approach. journal of computational and applied mathematics, 372. https://doi.org/10.1016/j.cam.2019.112660 microsoft word 07_rudy aryanto_setting_ok.docx 148 journal the winners, vol. 10 no. 2, september 2009: 148-155 dampak loyalitas dari keputusan konsumen disebabkan pelayanan dan promosi pada usaha gimnastik rudy aryanto1; susanto2; liu santa stefenny3 jurusan manajemen, fakultas ekonomi dan bisnis, universitas bina nusantara, jln. k.h. syahdan no. 9, palmerah, jakarta barat 11480 raryanto@binus.edu abstract this research purpose is to analyze the influence service quality and promotion to decision making and its impact on consumer loyalty. method used in this research is descriptive-associative, using pearson correlation path analysis. data gathered by distributiong questionnaire to 110 respondents in gold’s gym thamrin city. from the data analysis, it is found out that the structural model is given as y= 0,497x2 + 0,868 1ε , whereas r 2 24,7% , and structural 2 z = 0,491 x1 + 0,871 2ε whereas r 2= 24,2. the service quality seems have less influence to consumer’s decision making but have stronger influence to consumer loyalty. promotion effectively influences consumer’s decision making as much as 24,2%. thus, service quality and promotion should be leveraged to increase sales and consumer loyalty. keywords: service quality, promotion, consumer decision making, consumer loyalty abstrak tujuan penelitian ini adalah untuk menganalisis pengaruh kualitas pelayanan dan promosi terhadap pembuatan keputusan konsumen dan dampaknya pada loyalitas konsumen. metode yang digunakan dalam penelitian ini adalah deskriptif-asosiatif, dengan menggunakan analisis jalur korelasi pearson. data dikumpulkan dengan penyebaran kuesioner kepada 110 responden di gold's gym thamrin kota. dari analisis data, ditemukan bahwa model struktural diberikan sebagai y = 0,497 x2 + 0,868, di mana r2 24,7% dan struktural 2 z = 0.491 x1 + 0.871, sedangkan r2 = 24,2. kualitas pelayanan tampaknya tidak terlalu mempunyai pengaruh terhadap pengambilan keputusan konsumen, tetapi mempunyai pengaruh kuat terhadap loyalitas konsumen. promosi efektif mempengaruhi pembuatan keputusan konsumen hingga sampai 24,2%. dengan demikian, kualitas layanan dan promosi harus dimanfaatkan untuk meningkatkan penjualan dan loyalitas konsumen. kata kunci: kualitas pelayanan, promosi, pengambilan keputusan konsumen, loyalitas konsumen dampak loyalitas .....(rudy aryanto; dkk) 149 pendahuluan riset ini dilakukan terhadap salah satu gym terbesar di indonesia, yakni gold’s gym. pertama kali dibangun pada tahun 1965 di venice, california, amerika serikat, dengan hanya memiliki satu outlet. saat ini, gold’s gym merupakan jaringan kebugaran internasional terbesar di dunia, dengan memiliki 650 tempat kebugaran yang tersebar di 28 negara. gold’s gym merupakan pusat kebugaran yang hanya untuk orang yang serius dalam berolahraga serta orang yang benar-benar menginginkan hasil kesehatan yang sempurna. kemudian, gold’s gym dikenal sebagai the mecca of bodybuilding. gold’s gym menjadi “the hotbed” untuk perkembangan teknik latihan, peralatan dan konsep nutrisi yang menjadi dasar bagi revolusi kebugaran saat ini. di amerika serikat, gold’s gym juga telah berhasil membuktikan komitmennya, yaitu memberikan hasil yang diinginkan oleh sebagian besar para pemegang kartu anggotanya. bukti nyata komitmen ini dapat dilihat dengan begitu banyaknya artis dan olahragawan dunia yang mempercayakan tempat berolahraganya kepada gold’s gym. kini, dengan bangga gold’s gym telah masuk ke indonesia. gold’s gym indonesia merupakan karya besar dari rancangan pusat kebugaran yang pernah ada di indonesia untuk memuaskan para pecinta fitnes dari tingkat pemula hingga bagi mereka yang sudah pengalaman. didukung dengan tata letak ruangan yang dirancang khusus dan penyediaan pelayanan alat-alat kebugaran terbaru dan tercanggih. usaha keras terus dilakukan untuk meyakinkan bahwa semua orang dapat diterima dengan senang hati dan merasa nyaman berada di gold’s gym hingga mereka mampu meraih tujuan dari program kesehatan dan kebugaran mereka. dengan hampir 3 juta anggota di seluruh dunia, gold’s gym berkomitmen untuk tidak akan pernah berhenti membantu semua orang meraih potensi diri mereka. jumlah anggota dari gold’s gym thamrin city sendiri pada april 2010 berjumlah 746 orang dan pada akhir juli 2010 jumlah anggota yang aktif sebanyak 1026 orang, dengan rata-rata 70 orang anggota yang ikut per bulan. penulis tertarik untuk mengetahui apa ada hubungan yang positif antara kualitas dan brand awareness, yaitu kualitas pelayanan dan brand awareness yang ditawarkan dalam meraih konsumen sehingga nantinya para konsumen tersebut akan mengambil keputusan yang menjadikan gym ini memperoleh profit yang lebih besar lagi sehingga mengambil judul “analisis pengaruh kualitas pelayanan dan promosi terhadap pengambilan keputusan pembelian konsumen yang berdampak pada loyalitas konsumen gold’s gym“. dengan demikian, pertanyaan yang muncul adalah “bagaimana pengaruh kualitas pelayanan dan promosi terhadap pengambilan keputusan konsumen gold’s gym?” serta “bagaimana pengaruh kualitas pelayanan dan promosi terhadap pengambilan keputusan konsumen terhadap loyalitas konsumen?”. definisi kualitas pelayanan adalah sebagai berikut. kualitas pelayanan dalam perusahaan merupakan hal yang sangat penting dari sudut pandang konsumen, dalam permulaan dari kepuasan konsumen, di mana mutu pelayanan dan kepuasan konsumen ini akan mempengeruhi intensitas pembelian dan loyalitas konsumen. berdasarkan hal ini, peningkatan kualitas pelayanan harus berorientasi kepada konsumen. kualitas pelayanan adalah tingkat keunggulan yang diharapkan dan pengendalian atas tingkat keunggulan tersebut untuk memenuhi keinginan pelanggan (tjiptono, 2005:59). sedangkan menurut bateson dan houffman (2001:324), didefinisikan sebagai sikap yang dibentuk dalam jangka panjang dan evaluasi keseluruhan terhadap kinerja perusahaan. definisi kualitas pelayanan berpusat pada upaya pemenuhan kebutuhan dan keinginan pelanggan serta penyampaiannya untuk mengimbangi harapan pelanggan (simamora, 2003:180). berdasarkan definisi di atas, maka dapat disimpulkan bahwa kualitas pelayanan adalah kinerja yang mengarah pada mutu yang diharapkan dari jasa yang ditawarkan secara lebih mendalam karena manfaat besar yang dihasilkan dari pelayanan, yang dapat meningkatkan intensitas pembelian dan loyalitas pelanggan. sementara itu, definisi promosi adalah sebagi berikut. menurut kotler (2003:114), promosi meliputi semua kegiatan yang dilakukan untuk mengkomunikasikan dan mempromosikan produknya kepada pasar sasaran. selain itu, promosi adalah sejenis komunikasi yang memberi penjelasan untuk 150 journal the winners, vol. 10 no. 2, september 2009: 148-155 menyakinkan calon pelanggan tentang barang dan jasa (alma, 2004:179), keberhasilan suatu strategi promosi dalam mempengaruhi keputusan pembelian mencakup 4 poin, yaitu periklanan, promosi penjualan, penjualan perseorangan, dan hubungan masyarakat. menurut peter dan olson keputusan terhadap iklan mempengaruhi keputusan mereka terhadap produk yang diiklankan, maka iklan yang disukai konsumen akan menciptakan keputusan yang positif. setiap konsumen melakukan berbagai macam keputusan tentang pencarian, pembelian, penggunaan beragam produk dan merek pada setiap produk tertentu. schiffman dan kanuk dalam sumarwan (2003:289) mendefinisikan suatu keputusan adalah sebagai pemilihan suatu tindakan dari dua atau lebih pilihan alternatif. jika konsumen tidak memiliki pilihan alternatif, maka hal tersebut bukanlah situasi konsumen melakukan keputusan. suatu keputusan tanpa pilihan tersebut maka disebut sebagai sebuah hobson’s choice. semua aspek dari afeksi dan kognisi terlibat dalam pembuatan keputusan konsumen, termasuk pengetahuan, makna dan kepercayaan yang digerakkan dari memori dan atensi serta proses komprehensi yang terlibat di dalam interpretasi informasi baru di lingkungan. proses kunci di dalam pembuatan keputusan konsumen ialah proses integrasi dengan mana pengetahuan dikombinasikan untuk mengevaluasi dua atau lebih alternatif perilaku, kemudian pilih satu. hasil dari proses integrasi ialah suatu pilihan, secara kognitif terwakili sebagai intensi perilaku. intensi perilaku disebut rencana keputusan (supranto dan limakrisna 2007:211). definisi loyalitas pelanggan adalah sebagai berikut. kotler (2005:18) menyebutkan bahwa customer loyalty adalah suatu pembelian ulang yang dilakukan oleh seorang pelanggan karena komitmen pada suatu merek atau perusahaan. sebenarnya ada banyak faktor yang mempengaruhi suatu konsumen untuk loyal, antara lain faktor harga merupakan seseorang tentu akan memilih perusahaan atau merek yang menurutnya menyediakan alternatif harga paling murah di antara pilihanpilihan yang ada. selain itu, ada juga faktor kebiasaan, seseorang yang telah terbiasa menggunakan suatu merek atau perusahaan tertentu, maka kemungkinan untuk berpindah ke pilihan yang lain akan semakin kecil. griffin (2005:13) mengemukakan definisi pelanggan loyal adalah pelanggan yang membeli berulang kali secara teratur atau membeli produk dengan merek yang sama. berdasarkan definisi tersebut, disimpulkan bahwa pelanggan yang loyal dimaknai sebagai pelanggan yang melakukan pembelian berulang., pelanggan yang dengan antusias dan sukarela merekomendasikan produk perusahaan kepada orang lain. pelanggan loyal akan menjadi spiritual advocates yang akan terus membela produk atau perusahaan dalam keadaan apapun dan terus merekomendasikannya ke orang lain. kerangka pemikiran dapat dilihat pada gambar 1. gambar 1 kerangka pemikiran dampak loyalitas .....(rudy aryanto; dkk) 151 metode penelitian desain penelitian dalam analisis ini, penulis menggunakan metode analisis deskriptif dan asosiatif. dengan penelitian asosiatif ini, dapat diketahui hubungan antara variabel dan bagaimana tingkat ketergantungan antara variabel idependent dengan variabel dependent. unit analisis yang dituju adalah individu, yaitu konsumen dari gold’s gym. time horizon yang digunakan adalah cross-sectional, yaitu suatu penelitian yang dilakukan dalam kurun waktu tertentu (umar, 2005:131). tabel 1 desain penelitian tujuan penelitian desain penelitian jenis dan metode penelitian unit analisis time horizon t-1 desktiptif asosiatif individu cross-sectional t-2 desktiptif asosiatif individu cross-sectional teknik pengambilan sampel teknik pengambilan sampel dalam penelitian ini dimaksudkan untuk menduga/mewakili nilai suatu populasi. populasi dalam penelitian ini adalah anggota gold’s gym thamrin city. pengambilan sampel menggunakan rumus dari taro yamane sebagai berikut: . di mana: n = jumlah sampel n = jumlah populasi d2 = presisi (ditetapkan 10% dengan tingkat kepercayaan 95%) metode analisis metode analisis berdasarkan tujuan penelitian dapat dilihat pada tabel 2. tabel 2 metode analisis berdasarkan tujuan penelitian tujuan alat analisis t-1 path analysis dan korelasi pearson t-2 path analysis dan korelasi pearson sumber: data penelitian koefisien korelasi pearson berdasarkan riduwan dan engkos ahmad kuncoro (2007:61), untuk mengetahui hubungan antara variabel x1 dengan y dan x2 dengan y dan x1 dan x2 terhadap y, digunakan teknik korelasi. analisis korelasi yang digunakan adalah pearson product moment, dengan rumus: 152 journal the winners, vol. 10 no. 2, september 2009: 148-155 ∑ ∑ . ∑ ∑ – ∑ ∑ – ∑ analisis jalur (path analysis) berdasarkan pada riduan dan kuncoro (2007:1-2), analisis jalur (path analysis) yang dikembangkan pertama kali pada tahun 1920-an oleh seorang ahli genetika, yaitu sewall wright merupakan sebuah teknik yang digunakan untuk menganalisis pola hubungan antar variabel, dengan tujuan intuk mengetahui peran langsung maupun tidak langsung seperangkat variabel independen terhadap variabel dependen. terdapat beberapa asumsi di dalam path analysis, di antaranya, yaitu (1) hubungan antar variabel adalah bersifat linier, adaptif, dan normal; (2) hanya sistem aliran kausal ke satu arah, artinya tidak ada arah kausalitas yang berbalik; (3) variabel terikat (endogen) minimal dalam skala ukur interval dan ratio; (4) menggunakan probability sampling; (5) observed variables diukur tanpa kesalahan (instrumen pengukuran valid dan reliable) artinya variabel yang diteliti dapat diobservasi secara langsung; (6) model yang dianalisis dispesifikasikan (diidentifikasi) dengan benar berdasarkan teori-teori dan konsep-konsep yang relevan, artinya model teori yang dikaji dibangun berdasarkan kerangka teoritis tertentu yang mampu menjelaskan hubungan kausalitas antara variabel yang diteliti. langkah-langkah pengujian path analysis berdasarkan pendapat riduwan dan engkos rachmat kuncoro (2007:116-118), ada beberapa langkah pengujian path analysis, yaitu sebagai berikut. pertama, merumuskan hipotesis dalam persamaan struktural, yaitu y = ρzxx + ρzyy + ρzε1. kedua, menghitung koefisien jalur yang didasarkan pada koefisien regresi. langkah-langkahnya adalah (1) gambarkan diagram jalur lengkap, tentukan sub-sub strukturnya dan rumuskan persamaan strukturalnya yang sesuai hipotesis yang diajukan. hipotesis merupakan naik turunnya variabel endogen (y) dipengaruhi secara signifikan oleh variabel eksogen (x1 dan x2); (2) menghitung koefisien regresi untuk strukur yang telah dirumuskan. persamaan regresi ganda; (3) menghitung koefisien jalur secara keseluruhan kaidah pengujian signifikansi secara manual dengan menggunakan tabel f dan kaidah pengujian signifikansi dengan program spss, yakni jika nilai probabilitas 0,05 lebih kecil atau sama dengan nilai probabilitas sig atau [0,05 ≤ sig], maka ho diterima dan ha ditolak, yang artinya tidak signifikan. sedangkan jika nilai probabilitas 0,05 lebih besar atau sama dengan nilai probabilitas sig atau [0,05 ≥ sig], maka ho ditolak dan ha diterima, yang artinya signifikan; (4) menghitung koefisien jalur secara individu. secara individual, uji statistik yang digunakan uji t yang dihitung dengan rumus. statistik diperoleh dari hasil komputasi spss 16.0 untuk analisis regresi setelah data ordinal ditranformasikan ke interval. selanjutnya, untuk mengetahui signifikansi analisis jalur bandingan antara nilai probabilitas 0,05 dengan nilai probabilitas sig dengan dasar pengambilan keputusan, yakni jika nilai probabilitas 0,05 lebih kecil atau sama dengan nilai probabilitas sig atau [0,05 ≤ sig], maka ho diterima dan ha ditolak, yang artinya tidak signifikan. sedangkan jika nilai probabilitas 0,05 lebih besar atau sama dengan nilai probabilitas sig atau [0,05 ≥ sig], maka ho ditolak dan ha diterima, yang artinya signifikan; (5) meringkas dan menyimpulkan. dampak loyalitas .....(rudy aryanto; dkk) 153 hasil dan pembahasan uji hipotesis variabel untuk rancanan uji hipotesis ini adalah x1 = kualitas pelayanan, x2 = promosi, y = keputusan pembelian, dan z = loyalitas. terdapat 2 hipotesis yang perlu diuji. hipotesisnya adalah sebagai berikut. rancangan implikasi hasil penelitian dalam penelitian ini adalah dengan membagikan terlebih dahulu kuesioner kepada konsumen yang datang ke gold’s gym. setelah itu, data-data yang didapatkan dianalisis menggunakan path analysis untuk mengetahui bagaimanakah pengaruh variabel kualitas pelayanan dan promosi terhadap pengambilan keputusan konsumen, untuk mendapatkan data yang nantinya diolah untuk menjawab pertanyaan dalam hipotesis yang diajukan. setelah nantinya hasil data telah diolah dan didapat hasil akhirnya, maka dapat ditentukan. dari hipotesis yang nantinya terjawab, maka dapat ditentukan implikasi-implikasi yang relevan yang dapat diberikan serta saransaran yang berguna dan bermanfaat bagi perusahaan. pembahasan dengan berakhirnya pengujian sub struktur 1 dan sub struktur 2, maka dapat digambarkan struktur hubungan secara lengkap antara variabel x1, x2, y dan z, yang dilengkapi dengan koefisien jalur dari setiap variabel. adapun persamaan sub struktur 1 dan 2 adalah: persamaan struktural sub struktur 1 : y= 0,497x2 + 0,868 1ε persamaan struktural sub struktur 2 : z = 0,491 x1 + 0,871 2ε gambar 2 struktur hubungan secara lengkap antara variabel x1, x2, y, dan z untuk melihat pengaruh langsung, tidak langsung, pengaruh total antar variabel berdasarkan hasil pengujian sub struktur 1 dan sub struktur 2 yang telah diperoleh, maka dapat dirangkum melalui tabel sebagai berikut. tabel 3 rangkuman pengaruh variabel x1, x2, y terhadap z pengaruh variabel koefisien jalur pengaruh langsung tidak langsung melalui y total x2 terhadap y 0,497 0,497 0,497 x1 terhadap z 0,491 0,491 0,491 1ε 0,868 0,868 2 = 75,34 2ε 0,871 0,871 2 = 75,86 154 journal the winners, vol. 10 no. 2, september 2009: 148-155 berdasarkan hasil perhitungan secara keseluruhan, maka pengaruh variabel kualitas pelayanan (x1), promosi (x2) terhadap keputusan pembelian (y) serta dampaknya terhadap loyalitas pelanggan (z), maka dapat dijelaskan sebagai berikut. pertama, loyalitas pelanggan (z) dipengaruhi oleh kualitas pelayanan ritel (x1) secara simultan rsebesar 49,1% dan sisanya sebesar 50,9% dipengaruhi oleh variabel lain di luar penelitian ini. setiap penambahan nilai kualitas pelayanan sebesar 1, maka nilai loyalitas pelanggan akan meningkat sebesar 0,491. begitu pula sebaliknya, setiap penurunan nilai kualitas pelayanan sebesar 1, maka nilai loyalitas pelanggan akan menurun sebesar 0,491. kedua, keputusan pembelian (y) dipengaruhi oleh promosi (x2) secara simultan sebesar 49,7% dan sisanya sebesar 50,3% dipengaruhi oleh variabel lain di luar penelitian ini. setiap penambahan nilai promosi sebesar 1, maka nilai loyalitas pelanggan akan meningkat sebesar 0,497. begitu pula sebaliknya, setiap penurunan nilai kualitas pelayanan sebesar 1, maka nilai loyalitas pelanggan akan menurun sebesar 0,497. simpulan kualitas pelayanan mempunyai pengaruh yang signifikan terhadap loyalitas konsumen di gold’s gym thamrin city. dapat diartikan bahwa loyalitas konsumen gold’s gym thamrin city sangat dipengaruhi oleh kualitas pelayanan yang diterima konsumen. promosi mampunyai pengaruh yang signifikan tergahap pengambilan keputusan pembelian konsumen gold’s gym thamrin city. dapat diartikan bahwa pengambilan keputusan konsumen sangat dipengaruhi oleh promosi yang diadakan oleh gold’s gym thamrin city. kualitas pelayanan ternyata tidak memiliki pengaruh yang signifikan terhadap pengambilan keputusan pembelian pada konsumen gold’s gym thamrin city. dapat diartikan bahwa pengambilan keputusan pembelian konsumen gold’s gym thamrin city tidak dipengaruhi oleh kualitas pelayanan, dan promosi juga tidak berpengaruh signifikan terhadap loyalitas konsumen gold’s gym thamrin city. dapat diartikan bahwa loyalitas konsumen gold’s gym thamrin city tidak dipengaruhi oleh promosi yang dilakukan oleh gold’s gym thamrin city. daftar pustaka alma, b. (2005). manajemen pemasaran dan pemasaran jasa, cetakan ketujuh, bandung: alfabeta. bateson, j., and hoffman, d. (2001). services marketing: concepts, strategies, and cases, south western: mason, oh. griffin, j. (2005). customer loyalty: menumbuhkan dan mempertahankan kesetiaan pelanggan, jakarta: erlangga. kotler, p. (2003). marketing management, 11th ed., new jersey: prentice internasional, inc. kotler, p. (2005). marketing management, 11th ed., new jersey: pearson education inc. riduwan, k., dan achmad, e. (2007). cara menggunakan dan memaknai analisis jalur (path analysis), bandung: alfabeta. simamora, b. (2003). aura merek 7 langkah membangun merek yang kuat, jakarta: pt gramedia pustaka utama. dampak loyalitas .....(rudy aryanto; dkk) 155 sumarwan, u. (2003). perilaku konsumen, teori, dan penerapannya dalam pemasaran, edisi pertama, ghalia indonesia. supranto, j., dan limakrisna, n. (2007). perilaku konsumen dan strategi pemasaran untuk memenangkan persaingan bisnis, jakarta: mitra wacana media. tjiptono, f. (2005). brand management and strategy, yogyakarta: andy. umar, h. (2005). riset pemasaran dan perilaku konsumen, jakarta: pt gramedia pustaka utama. *corresponding author p-issn: 1412-1212 e-issn: 2541-2388 163 the winners, 22(2), september 2021, 163-171 doi: 10.21512/tw.v22i2.7082 the role of digital loyalty program towards customer loyalty through a measure of satisfaction roymon panjaitan* department of business, faculty of computer and business, universitas sains dan teknologi komputer jl. majapahit no.605, pedurungan kidul, semarang, central java 50192, indonesia roymon_panjaitan@yahoo.com received: 22nd february 2021/ revised: 06th april 2021/ accepted: 12th april 2021 how to cite: panjaitan, r. (2021). the role of digital loyalty program towards customer loyalty through a measure of satisfaction. the winners, 22(2), 163-171. https://doi.org/10.21512/tw.v22i2.7082 abstract the research aimed to explore the importance of loyalty programs to customer satisfaction and loyalty in digital business in indonesia. the concept of theoretical development of the resource-advantage theory of competition and service-dominant logic was used for the development of research findings. lazada, one of the e-commerce platforms, offered digital loyalty programs such as points store, loyalty store, e-coupon, e-newsletter, and flash sale. thus data collection was distributed through an online questionnaire to lazada customers, with a sample size of 384 respondents. data testing with linear regression analysis was conducted to test the variables of the lazada digital loyalty program on customer loyalty mediated customer satisfaction. the results shows that in digital loyalty program variables, the program features contribute positively directly and have the success of mediated customer satisfaction in the digital loyalty program. more products that offer customer-oriented technology feature innovation will increase customer loyalty amidst dynamic marketing capabilities in digital business innovation change, which gives impact to managers. keywords: digital loyalty program, customer satisfaction, customer loyalty i. introduction the growth of digital innovation in indonesia is coherently diffused by innovation. dissemination of information technology provides convenience from aspects of digital business, such as marketplaces and e-commerce. the emergence of this industry also encourages the growth of the creative economy in indonesia. competition for technical aspects and delivery of services such as website design and responsiveness is part of efforts to increase satisfaction and loyalty. to promote customer retention and discourage the customer from turning to rivals, digitalbased loyalty schemes are intensively introduced by e-commerce. raising customer loyalty and loyal customer is a top priority and as one of the vital characteristics in developing and sustaining a key business environment (iglesias et al., 2020; mainardes, rosa, nossa, 2020; vildová et al., 2015). customer satisfaction is considered the main determinant in building and maintaining the main business environment. good services allow customers to return to the sector or area where orders are often made. advanced access to new goods, extra discounts, or indeed free items can be included in several bonuses. usually, clients register their personal details with the organization and obtain a unique id, such as a numeric id or id card as the identifier when making the payment. lazada is one of the e-commerce platforms of the latest developments in the digital business, with an average of 135 million visitors by 2020. the urgency of the problem of the research is whether lazada has the potential to compete comparatively with digitalbased to maintain customer loyalty. moreover, the research aims to find out the logical perspective that can be built into new or added value in the lazada platform since there have been many competitors that dominate in this business. it is considered important to discuss since the growing platform of other digital businesses are oriented to the consumer perspective in e-commerce business competition in particular. through the concept offered from the digital loyalty relationship on the loyalty customer, the importance of the concept of customer satisfaction can bridge the relationship. watson et al., (2015) point out that loyalty consists of buying attitudes and behaviors that benefit one seller over a competitor. bijmolt et al. (2017), breugelmans and liuthompkins (2017), bruneau, swaen, and zidda 164 the winners, vol. 22 no. 2 september 2021, 163-171 (2018), and trivedi and yadav (2020) suggest that loyalty programs are a much more important driver of purchasing behavior than corporate loyalty. web features are the process of building customer loyalty from trust and distrust to differently mediate customer perceptions (liu et al., 2017; ofori, boakye, & narteh, 2018; seckler et al., 2015; trivedi & yadav, 2020). thus consumer loyalty through sales programs can be built from the seller's facilities to the consumer perspective. the understanding of customer loyalty is incomplete, while some research agree that there is a positive link in the success of digital loyalty programs to higher online programs than in the offline market because consumers in the online market are not charged for physical transportation fees (lim & lee, 2015). in addition, the benefits of customer segmentation of consumer preferences are higher, so they provide stronger profit incentives for retailers through loyalty programs (ieva & ziliani, 2017). vesel and zabkar (2009) conclude that in a retail service environment, the level of quality of personal interaction, loyalty programs, and customer satisfaction as important determinants of customer loyalty. however, according to sungirirai, chiguvi, and sungirirai (2017) loyalty programs have a weak effect on customer behavior of economic rewards and exchange options although customer familiarity is already integrated with the program. through the member card, a reward scheme can measure the level of satisfaction and intensity of customer loyalty (li, 2018). another important point in digital marketing is having value-added attributes to increase customer loyalty from the content attributes, customer service attributes, and appearance features (khan & islam, 2017; zakaria et al., 2014). this is reinforced from the results by zakaria et al. (2014) with the object of retail industry research, which also shows that some loyalty programs such as rebate gift vouchers, member's day, and magazine have no significant effect on customer satisfaction. the points that must be collected to redeem gift vouchers are too large compared to the amount of money spent by customers, so customers prefer other companies that offer similar program with easier terms to follow. therefore, it takes the concept of measurable variables as a bridge to achieve increased customer loyalty. considering the inconsistency of previous research findings, the research provides a conceptual model of customer satisfaction relationships as a bridge from the correlation of loyalty design programs to customer loyalty. other researchers have focused a lot on the relationship of service quality to customer loyalty, but only few researchers discuss digital loyalty programs through concepts that offer digital features such as store points, loyalty stores, e-coupons, e-newsletters, and flash sales. the feature is positively correlated to be an important key part of customer relationship management products to increase customer satisfaction (hassan et al., 2015). similarly, the effect of customer satisfaction on loyalty is fully mediated by trust and commitment in the higher education customer segment (schirmer et al., 2018). the concept of online buying (i.e., website images, online routines, and website knowledge) provides important insights into how e-companies can pursue and use pleasure to highlight customer loyalty. these results enable a better understanding of the specificity of customers with practical actions aimed at their real needs and expectations. this understanding is also supported by pereira, de fátima salgueiro, and rita (2017) that images, routines, and website knowledge significantly affect e-customer satisfaction. customer satisfaction is a conscious evaluation or cognitive assessment concerning whether the performance of a product or service is relatively good or poor, or whether the product or service matches the purpose of use (alnawas & hemsley-brown, 2018; alsaggaf & althonayan, 2018). it can also be attributed to the extent to which the performance of such products is in line with buyer expectations (kotler, 2018). the definition of customer loyalty is customer loyalty to continue to use the same product of a company. this may apply solely to the purchase of the same particular brand repeatedly if there is only one available brand, cheapest brand, and so on (tjiptono & chandra, 2011). the definition of a loyalty program can be interpreted as a marketing program to increase customer satisfaction and loyalty by offering similar rewards, and to achieve financial returns such as market share, competitive positions, or recurring purchases, while at the same time collect customer data to do targeted marketing (breugelmans et al., 2015). the behavior of internet users can differ considerably from the population in general. this also applies to e-commerce players and their effect on a digital loyalty program. loyalty programs for a digital business are also usually digital-based where companies can simultaneously build a digital database for e-mail marketing, track customer birthdays, and other special events (tahal, 2014). some types of conventional and digital loyalty programs have been summarized in table 1. some research on digital loyalty program has mixed results on customer satisfaction and loyalty. digital loyalty programs are proven to increase sales but not to generate true loyalty to the company (nobre & rodrigues, 2018). tahal (2014) shows that 73% of e-commerce users claim to be happy with loyalty programs, but in reality, only 31% of users admit to the loyalty program. it raises the question of whether the digital loyalty program has a positive effect on customer satisfaction and customer loyalty. the same research also shows that there is a mismatch between the loyalty program communicated by the company compared to the loyalty program expected by the customer (tahal, 2014). it results in the loyalty program being untargeted and not achieving the expected goals. the research focuses on whether the digital loyalty program has good engagement with its 165the role of digital loyalty program.... (roymon panjaitan) customers and has significant influence on customer satisfaction and customer loyalty. based on previous research, the hypotheses that can be formed are: h1: digital loyalty program significantly affects customer satisfaction. h2: digital loyalty program significantly affects customer loyalty. with the help of technology, several types of new loyalty programs can be offered to customers as described in table 1, such as a gamification system that offers loyalty programs to customers by having to play video games. besides, there are also loyalty programs based on social media such as, fan pages and community forums. however, some loyalty programs that are proven to be popular are still used, namely point programs, tier programs, membership programs, and payback programs, and flash sale programs. the five types of loyalty programs are most commonly used by digital businesses such as lazada, which is the e-commerce examined in the research. based on the development of loyalty program into a digital version, the research is to hypothesize that each of the five digital-based loyalty programs from lazada has a significant influence on customer satisfaction and loyalty: h1a: toko points program significantly affects customer satisfaction. h1b: store loyalty program significantly affects customer satisfaction. h1c: e-coupon program significantly affects customer satisfaction. h1d: e-newsletter program significantly affects customer satisfaction. h1e: flash sale program significantly affects customer satisfaction. h2a: toko points program significantly affects customer loyalty. h2b: store loyalty program significantly affects customer loyalty. h2c: e-coupon program significantly affects customer loyalty. h2d: e-newsletter programs have a significant effect on customer loyalty. h2e: flash sale program significantly affects customer loyalty. the relationship between customer satisfaction and customer loyalty has been proven in previous research. iddrisu et al. (2015) reveal that customer satisfaction has a direct relationship with customer loyalty judging by the results of the calculation of correlation between customer satisfaction to customer loyalty of 0,763. compared to what has been conducted, this research focuses on how the digital loyalty program affects customer satisfaction and customer loyalty. therefore, the third and fourth hypotheses can be formed: h3: customer satisfaction significantly affects customer loyalty. h4: customer satisfaction has a mediation role between digital loyalty programs and customer loyalty. lazada's online business digital media is chosen as the locus of research since the digital program provides its uniqueness for its competitors in the same field in e-commerce. this leads to explore the conceptual model of the function of customer satisfaction in its ability to bridge or improve its relationship to customer loyalty. therefore, the current research aims to explore further and bridge the research gap in the literature by developing conceptual table 1 loyalty program conventional vs digital loyalty program no loyalty program conventional (magatef & tomalieh, 2015) loyalty program digital (various source) 1 points system digital point program 2 tier system digital tier program 3 vip membership vip memberships 4 payback money for loyal customer digital payback system 5 partnerships with other company to provide all-inclusive offers partnership program 6 loyalty card program social media based program 7 frequent buyer program gamification program 8 gift card or certificate community program 9 return policy for loyal customer subscription program 10 discount over time or volume of good charity program 11 bundled goods flash sale 12 non-monetary programs source: researcher (2021) 166 the winners, vol. 22 no. 2 september 2021, 163-171 models consisting of the concept of the digital loyalty program, customer satisfaction, and customer loyalty. ii. methods data collection method is conducted by using the online questionnaire method. distribution of google form links by giving some statements to lazada users. topics raised in the research are digital loyalty programs, customer satisfaction, and customer loyalty that occur in lazada company. the target population of the research is lazada app users with a variety of demographics. the criteria in determining the sample target are: 1) lazada app users; 2. no transaction on lazada; and 3) frequent transaction through lazada (more than 5 times). the sampling method is purposive sampling where the selected sample has several inclusion criteria by the three criteria. sampling is shared via social media. based on the number of lazada users reaching 10 million users, the minimum number of samples required is 384 samples (sekaran & bougie, 2016). statistical analysis used in the research is statistic parametric with multiple linear regression test by testing free variables and mediation variables against bound variables. before conducting multiple linear regression tests, several tests are conducted in advance such as validity tests and reliability tests to identify the items of the questionnaire. next, normality test, linearity test, and heteroscedasticity test are conducted as a condition of the feasibility of the linear regression model. a parameter test is conducted to determine the influence of independent variables on dependent variables. parameter testing includes simultaneous parameter testing (f test) and partial parameter testing (t-test). simultaneous parameter testing (f test) shows whether all independent variables included in the model have a mutual influence on dependent variables. partial parameter testing (t-test) is used to prove whether independent variables individually affect dependent variables. the four steps in using the causal step method are to: 1) create an independent variable regression equation (x) against a dependent variable (y); 2) create an independent variable regression equation (x) against the mediation variable (m); 3) create an independent variable regression equation (x) against a dependent variable (y) by entering a size mediation variable (m); 4) draw conclusions as to whether the mediation variable mediates perfect mediation or partial mediation. variable m is declared as mediation or intervening variable if it meets criteria, namely: 1) if it is in equation i, the independent variable (x) affects the variable that is suspected as the mediation variable (m); 2) if it is in equation ii, the independent variable (x) affects the dependent variable (y); and 3) if it is in equation iii, the variable that is suspected as the mediation variable (m) affects the dependent variable (y). the test is conducted using the help of the spss program. figure 1 shows a diagram design of mediation variable regression analysis with causal step method. the test is to prove the significance of each lazada digital loyalty program (x) to customer satisfaction (m) in shopping at lazada. figure 1 direct effect of variable x on variable m the regression equation in the first model is: m = β0 + β1x (1) figure 2 shows diagram on the direct influence of the digital loyalty program (x) on customer loyalty (y). the test aims to prove the significance of each lazada digital loyalty program to customer loyalty in shopping at lazada. figure 2 direct effect of variable x on variable y the regression equation in the second model: y = β0 + β1x (2) figure 3 provides diagram of the indirect impact of digital loyalty program (x) on customer loyalty (y) mediated by consumer satisfaction (m). the test aims to predict the extent of customer satisfaction mediation on the value of lazada digital loyalty programs for customer loyalty. figure 3 indirect influence of x on y through m as mediation 167the role of digital loyalty program.... (roymon panjaitan) the regression equation in the third model is: y = β0 + β1x + β2m (3) when the effect of variable x on y, which was significant, becomes insignificant after inserting variable m into the regression equation model, it is considered that variable m testing criteria are declared as perfect mediation variables. on the other hand, when the insignificant effect of variable x on y becomes significant after variable m is inserted into the regression equation model, variable m is declared as a partial mediation variable. iii. results and discussions from the model regression analysis as seen in table 2, the significance value of all items in the digital loyalty program (x) < 0,05. it means that the digital loyalty program (x) affects the customer satisfaction (m) either individually/partially (t-test) or collectively/simultaneously (f test). the magnitude of the influence can be seen in the r-squared value of 0,822 meaning that the digital loyalty program (x) affects customer satisfaction (m) certain factors outside of this report are impacted by 82,2 % and the other 17,8%. the magnitude of the influence between each digital loyalty program on customer satisfaction can be seen in the correlation-pearson value, in which toko points gives the most influence since it has a strong relationship and direction (positive) to customer satisfaction (figure 4). based on data processing using spss program assistance, digital loyalty program (x) to customer satisfaction (m) obtains a constant coefficient value of 0,076 and a regression coefficient value of 0,90, so the regression equation for the first model is: m = β0 + β1x (4) customer satisfaction = 0,076 + 0,906 digital loyalty program. it can be concluded that the first criterion "independent variable (x) affects the variable that is suspected as a mediation variable (m)" to test the customer satisfaction variable (m) as the mediation variable is fulfilled. the second model regression analysis, as seen in table 3, shows the significance value of all items in the digital loyalty program variable (x) < 0,05. it means the digital loyalty program variable (x) affects the customer loyalty variable (y) either individually/ partially (t-test) or collectively/simultaneously (f test). the significance of the influence can be seen in the r-squared value of 0,804 meaning that the digital loyalty program (x) affects customer loyalty (y) certain factors outside of this research are affected by 80,4% and the remaining 19,6%. the significance of the impact between each digital loyalty program on customer loyalty can be seen in the correlation-pearson value. e-coupon gives table 2 first model regression test var. coeff. std. corr. pearson t-val f-val r-squared sig. dlp 0,906 97,064 0,000 constant 0,076 tp 0,182 0,772 2,683 0,008 tl 0,250 0,678 4,560 0,822 0,000 ec 0,232 0,757 3,796 0,000 en 0,189 0,717 3,183 0,002 fs 0,269 0,744 4,557 0,000 source: data processed results 2021 (spss) description : dlp = digital loyalty program fs = flash sale tp = toko points ec = e-coupon en = e-newsletter coeff. std. = coefficient standard tl = toko loyalty corr. pearson = correlation-pearson figure 4 mediation of costumer satisfaction from digital loyalty to costumer loyalty 168 the winners, vol. 22 no. 2 september 2021, 163-171 the most influence since it has a strong relationship and direction (positive) to customer satisfaction. figure 5 shows that digital loyalty program (x) to customer loyalty (y) obtains a constant coefficient value of 0,006 and a regression coefficient value of 0,896. therefore, the regression equation for the first model is: m = β0 + β1x customer loyalty = 0,006 + 0,896 digital loyalty program it can be concluded that the second criterion "independent variable (x) affects dependent variable (y)" to test the customer satisfaction variable (m) as the mediation variable is fulfilled. the third model regression analysis can be seen in table 4. the importance of the digital loyalty program (x) and customer satisfaction (m) < 0,05. it shows that the digital loyalty program (x) and customer satisfaction (y) affect the customer loyalty (y) either individually/partially (t-test) or collectively/simultaneously (test f). the significant influence can be seen in the r-squared value 0,875 which means that the digital loyalty program (x) and customer satisfaction (m) affect customer loyalty (y) by 87,5% and the remaining 12,5% is influenced by other variables outside of the research. digital loyalty program (x) to customer loyalty (y) obtains a constant coefficient value of -0,044. in addition, as seen in figure 6, a regression coefficient value of digital loyalty program (x) is 0,322 and a coefficient value of customer satisfaction (m) is 0,634. thus, the regression equation for the first model is: y = β0 + β1x + β2m customer loyalty = -0,044 + 0,322 digital loyalty program + 0,634 customer satisfaction table 3 second model regression test var. coeff. std. corr. pearson t-val f-val r-squared sig. dlp 0,896 0,000 constant 0,006 tp 0,162 0,756 2,275 0,025 tl 0,206 0,645 3,570 85,981 0,804 0,001 ec 0,287 0,771 4,454 0,000 en 0,219 0,724 3,503 0,001 fs 0,232 0,729 3,740 0,000 source: data processed results 2021 (spss) description: dlp = digital loyalty program tl = toko loyal coeff. std. = coefficient standard tp = toko points fs = flash sale corr. pearson = correlation-pearson en = e-newsletter ec = e-coupon figure 5 relation of digital loyalty on costumer satisfatcion table 4 third model regression test var. coeff. std. corr. pearson t-val f-val r-squared sig. (constant) -0,044 0,000 dlp 0,322 0,896 4,015 378.600 0,875 0,000 cs 0,634 0,925 7,904 0,000 source: data processed results 2021 (spss) description: dlp = digital loyalty program coeff. std. = coefficient standard cs = customer satisfaction corr. pearson = correlation-pearson 169the role of digital loyalty program.... (roymon panjaitan) it can be concluded that standardized coefficients beta value obtained variable digital loyalty program (x) weakened or decreased 0,322 < 0,896 with the addition of customer satisfaction (m). it reveals that customer satisfaction (m) has a mediation role to digital loyalty program (x) and customer loyalty (y). in addition, the third criteria to test the customer satisfaction (m) as a mediation variable is fulfilled. table 5 shows the results of each hypothesis test. iv. conclusions it is interesting to see from the outcomes that the variables of the digital loyalty program (along with all lazada loyalty programs) influence consumer satisfaction and lazada customer loyalty. digital loyalty program that has the most influence on customer satisfaction is toko points, whereas the program that has the most influence on customer loyalty is e-coupon. the result is alleged because toko points gives benefits to lazada users by redeeming points to get attractive coupons such as cashback, free shipping, and other discounts that make lazada customers feel satisfied with the benefits earned until finally loyal to lazada. the customer satisfaction serves as a mediation function that explains that the digital loyalty program indirectly affects customer loyalty through lazada customer satisfaction. in previous research, the relationship between customer satisfaction and customer loyalty has been proven by iddrisu et al. (2015) who concentrate on how the importance of the digital loyalty system on consumer satisfaction and show that customer loyalty is directly linked to customer loyalty. visitors, as well as customers, is proven loyal to lazada website based on the results and calculation of data on visitor loyalty that show drastic increase. this is in common with current research that the variables studied have an influential relationship with each other. based on the results, it is considered that management can take steps to keep the current promotion, improve, or see promotions or programs that are less efficient in table 5 hypothesis testing hypothesis result h1 dlp significantly influences customer satisfaction β = 0,906, sig = 0,000 < 0,05 h1a tp significantly influences customer satisfaction β = 0,182, sig = 0,008 < 0,05 h1b tlp significantly influences customer satisfaction β = 0,250, sig = 0,000 < 0,05 h1c ec significantly influences customer satisfaction β = 0,232, sig = 0,000 < 0,05 h1d en significantly influences customer satisfaction β = 0,189, sig = 0,002 < 0,05 h1e fs significantly influences customer satisfaction β = 0,269, sig = 0,000 < 0,05 h2 dlp significantly influences customer loyalty β = 0,896, sig = 0,000 < 0,05 h2a tp significantly influences customer loyalty β = 0,162, sig = 0,025 < 0,05 h2b tlp significantly influences customer loyalty β = 0,206, sig = 0,001 < 0,05 h2c ec significantly influences customer loyalty β = 0,287, sig = 0,000 < 0,05 h2d en significantly influences customer loyalty β = 0,219, sig = 0,000 < 0,01 h2e fs significantly influences customer loyalty β = 0,232, sig = 0,000 < 0,05 h3 cs significantly influences customer loyalty β = 0,634, sig = 0,000 < 0,05 h4 cs mediates the relationship between loyalty programs and customer loyalty the standardized value of beta coefficients obtained by the digital loyalty program (x) weakened or decreased by 0,322 < 0,896 with the addition of customer satisfaction (m) source: researcher (2021) figure 6 relation of digital loyalty on costumer loyalty 170 the winners, vol. 22 no. 2 september 2021, 163-171 attracting customers' attention. research limitation in sampling questionnaires shows that not all respondents know lazada since some of them shop at shopee, blibli, bukalapak, and so on. for lazada customers, some people are unfamiliar with loyalty programs since too many promotional activities and additional services make it increasingly difficult for customers to understand the forms of promotion resulting in the transfer of customers to competitors. it is recommended that future research with similar topic add more data to produce more prominent value. in addition, it is advisable to add other variables such as trusts, brand images, and other considerations that may have a substantial influence on consumer satisfaction and loyalty to customers. references alnawas, i. & hemsley-brown, j. 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(2014). the relationship between loyalty program, customer satisfaction and customer loyalty in retail industry: a case study. procedia social and behavioral sciences, 129, 23-30. https://doi.org/10.1016/j. sbspro.2014.03.643. microsoft word 01_guntur irianto_pengaruh bunga deposito.doc pengaruh bunga deposito, kurs mata uang… (guntur irianto) 1 pengaruh bunga deposito, kurs mata uang, dan harga emas terhadap indeks harga saham gabungan (ihsg) guntur irianto1 abstract article explores the effects of rate, rupiah, and us dollar kurs, and gold price to the ihsg by using a linier double regression model. it is concluded that deposit rate, rupiah and us dollar have a significant negatif effect to ihsg. those two variables have interrelated substations to the exchange; otherwise the gold price had a posite effect to ihsg (eh). keywords: deposit rate, currency rate, gold price, ihsg abstrak tujuan artikel ini mengetahui pengaruh suku bunga, kurs rupiah, dan dolar amerika, serta harga emas terhadap ihsg di bursa efek jakarta dengan model regresi berganda linier. hasil penelitian menunjukan bahwa bunga deposito kurs rp/us$ berpengaruh negatif secara signifikan terhadap ihsg. kedua variabel tersebut memiliki hubungan yang saling subtitusi dengan dengan bursa efek sedangkan harga emas berpengaruh positif terhadap ihsg. kata kunci: bunga deposito, kurs mata uang, bunga, emas, ihsg 1 staf pengajar upn veteran, unsn, dan ubinus, jakarta journal the winners, vol. 3 no. 1, maret 2002: 1-10 2 pendahuluan alternatif investasi dapat berupa investasi pada (1) aktiva riil yang secara umum melibatkan aset nyata seperti membeli properti/rumah, mesin atau pabrik, menyimpan emas atau; (2) investasi finansial seperti membeli sertifikat deposito, commercial paper, saham, dan membeli obligasi. masing–masing alternatif mempunyai kelebihan dan kekurangan. salah satu bentuk investasi finansial yang diminati oleh masyarakat adalah investasi kepemilikan saham melalui pasar modal. hasil (return) yang diharapkan oleh pemegang saham adalah pembagian dividen dan capital gain. dividen merupakan pembagian keuntungan kepada pemegang saham yang besarnya tergantung dari kebijakan dividen (dividen policy) masing– masing perusahaan. capital gain adalah keuntungan yang diperoleh karena harga jual saham lebih tinggi dari harga belinya. namun, tidak semua saham memberikan dividen dan capital gain. suatu perusahaan mungkin saja tidak dapat membagikan dividen pada tahun yang berjalan karena adanya kerugian atau kebijakan investasi. hal itu berlaku pula pada saham yang menimbulkan capital loss (kerugian) karena harga jualnya lebih rendah daripada harga belinya. bentuk investasi di pasar modal yang lain adalah membeli obligasi. obligasi pada dasarnya merupakan bukti utang pihak yang menerbitkan obligasi kepada pemegang obligasi selama umur obligasi. pihak pemegang obligasi sebagai pihak yang meminjamkan uang berhak mendapatkan imbalan berupa kupon yang nilainya tetap dan dinyatakan dalam persentase dari nilai nominal obligasi. kupon harus dibayarkan sesuai perjanjian dan tidak terkait bila perusahaan penerbit obligasi mengalami keuntungan atau kerugian dalam bisnisnya. uraian itu menggambarkan bahwa saham tidak memberikan kepastian hasil (return). karena tidak ada kepastian return tersebut, saham tergolong investasi yang berisiko (risky asset). sebaliknya, obligasi memberikan kepatian return sehingga disebut investasi bebas resiko (riskfree asset). oleh karena itu, investasi dalam saham memerlukan pertimbangan yang lebih cermat dibandingkan investasi dalam obligasi. masalah yang dihadapi oleh masyarakat selaku investor pada saham adalah sulit melakukan prediksi harga saham yang selalu berfluktuasi dari detik ke detik. dengan demikian, diperlukan strategi investasi mulai dari kebijakan investasi sampai evaluasi kinerja. menurut suad husnan (1998) terdapat lima langkah strategi investasi, yaitu (1) menentukan kebijakan investasi; (2) analisis sekuritas; (3) pembentukan portfolio; (4) melakukan revisi portfolio; (5) evaluasi kerja portfolio. kelima langkah itu sangat dipengaruhi public information karena paling mudah diperoleh masyarakat. dengan informasi itu, masyarakat dapat mengambil keputusan terhadap investasinya di pasar modal. informasi yang bersifat public information antara lain tingkat suku bunga, kurs rupiah, dan indeks harga saham gabungan di bursa efek jakarta. indeks harga saham gabungan (ihsg) di bursa efek jakarta merupakan gambaran secara umum harga saham yang go publik. kenaikan atau penurunan ihsg harga saham yang go publik di bursa efek jakarta. saat ini, ihsg menjadi salah satu indikator penting yang menunjukan kondisi ekonomi indonesia sehingga pergerakan naik turunya ihsg menarik untuk diamati. pengaruh bunga deposito, kurs mata uang… (guntur irianto) 3 masalah berdasarkan uraian tersebut, sangat menarik untuk mengetahui faktor yang mempengaruhi pergerakan ihsg. faktor tersebut adalah suku bunga deposito, kurs ruapiah, dan harga emas. oleh karena itu, pokok masalah dalam tulisan ini menjelaskan bagaimana pengaruh tingkat suku bunga deposito, kurs rupiah per dolar amerika, dan harga emas terhadap ihsg di bursa efek jakarta yang dirumuskan sebagai berikut. 1. apakah tingkat suku bunga deposito berpengaruh terhadap ihsg. 2. apakah kurs rupiah per dolar amerika berpengaruh terhadap ihsg. 3. apakah harga emas berpengaruh terhadap ihsg. kerangka pemikiran saat ini, para investor cenderung buy and sale atau membeli saham untuk dijual kembali. artinya, keuntungan yang diharapkan investor berasal dari capital gain bukan dari dividen. untuk memperoleh capital again, investor harus dapat mengambil keputusan untuk membeli atau menjual sahamnya pada waktu yang tepat. pada saat itulah masalah akan muncul karena sulit sekali untuk menentukan waktu yang tepat karena banyak variabel yang harus diperhatikan sebelum mengambil keputusan. investasi dalam saham, deposito, dolar amerika, maupun membeli emas merupakan alternatif investasi. oleh karena itu, dalam mengambil keputusan, salah satu investasi akan mempertimbangkan alternatif yang lain. dengan demikian, ihsg sebagai indikator harga saham secara umum akan dipengaruhi oleh indikator harga investasi lainnya, seperti tingkat suku bunga deposito, kurs rupiah terhadap dolar amerika, dan harga emas. berdasarkan penjelasan itu, patut diduga bahwa pergerakan harga saham yang tercermin dalam ihsg juga dipengaruhi oleh informasi mengenai alternatif investasi lain seperti tingkat bunga deposito, kurs rupiah terhadap dolar amerika, dan harga emas. hipotesis dalam penelitian ini, hipotesis yang dikemukakan seperti berikut. 1. variabel bunga deposito diduga berpengaruh negatif terhadap ihsg. 2. variabel kurs dolar amerika berpengaruh negatif terhadap ihsg. 3. variabel harga emas diduga mempunyai pengaruh negatif terhadap ihsg. metodologi untuk mengetahui pengaruh/hubungan tingkat suku bunga deposito, kurs rp/us$, dan harga emas terhadap ihsg, digunakan alat analisis regresi berganda linier dengan persamaan berikut y = a + b1 x1 + b2 + b3 x3 + e y : ihsg journal the winners, vol. 3 no. 1, maret 2002: 1-10 4 a : intercept x1 : tingkat suku bunga deposito x2 : kurs rupiah terhadap dolar amerika x3 : harga emas bn : koefisien regresi untuk melihat pengaruh variabel independen terhadap variabel dependen, secara parsial dilakukan uji t. untuk mengetahui pengaruh variabel independen terhadap variabel dependen secara serentak dilakukan uji f. perhitungan statistik menggunakan program spss 9.05 yang dijalankan melalui windows 98. variabel dan indikatior variabel dan indikator dalam penelitian ini sebagai berikut. 1. variabel dependen adalah ihsg dengan indikator tingkat suku bunga deposito berjangka waktu satu bulan yang dijamin oleh pemerintah indonesia yang dikeluarkan oleh bank indonesia secara harian. 2. kurs rupiah per dolar merika dengan indikator kurs tengah yang dikeluarkan bank indonesia secara harian. 3. harga emas per gram dengan indikator harga jual emas murni (logam mulia) per 1 gram di jakarta yang diproduksi pt aneka tambang secara harian. data dalam penelitian ini, data yang digunakan merupakan data sekunder periode 1 juni 1998 sampai 30 juni 2000 yang diperoleh dari berbagai sumber sebagai berikut. jenis data sumber data ihsg harian selama bulan juni 1998 hingga juni 2000 perpustakaan harian bisnis indonesia tingkat bunga deposito selama satu bulan yang dijamin oleh pemerintah indonesia untuk periode bulan juni 1998 sampai juni 2000 bank indonesia dan bagian treasury pt bank agroniaga kurs rupiah persatu dolar amerika selama bulan juni 1998 hingga juni 2000 bank indonesia dan perpustakaan harian bisnis indonesia harga emas per satu gram selama bulan juni 1998 sampai juni 2000 perpustakaan harian bisnis indonesia pengaruh bunga deposito, kurs mata uang… (guntur irianto) 5 pembahasan hasil perhitungan data input ihsg, bunga deposito, kurs rp terhadap us$, dan harga emas merupakan data periode bulan juni 1998 sampai juni 2000. data itu diedit dengan membuang data yang kosong (karena adanya hari libur/hari raya) sehingga data net yang diperoleh sebanyak 509 pasang data dari total 730 hari kalender sejak juni 1998 hingga juni 2000 dengan rincian sebagai berikut. tabel 1 data input data ihsg, bunga deposito, kurs rp terhadap us$, dan harga emas selama pengamatan dapat dilihat pada grafik berikut ini. gambar 1 pergerakan indeks harga saham gabungan di bej (closing price) periode 1 juni 1998 hingga 30 juni 2000 no. tahun jumlah pasang data 1 1998 145 pasang data 2 1999 247 pasang data 3 2000 117 pasang data jumlah 509 pasang data journal the winners, vol. 3 no. 1, maret 2002: 1-10 6 gambar 2 pergerakan tingkat bunga deposito jangka waktu 1 bulan sesuai jaminan pemerintah ri selama 1 januari 1998 sampai 30 juni 2000 gambar 3 pergerakan kurs rupiah per satu dolar amerika (kurs tengah bank indonesia) periode 1 juni 1998 hingga 30 juni 2000 hasil regresi hasil regresi sebanyak 509 pasang data input dengan program spss 9.05 sebagai berikut. pengaruh bunga deposito, kurs mata uang… (guntur irianto) 7 tabel 2 hasil regresi bunga deposito, kurs rp/us$, dan harga emas terhadap ihsg variabel coef. regresi t hitung f hitung n = 509 bunga 517,436 26,232 α = 5% kurs 0,01933 2,917 378,363 t tabel = 2,4469 harga emas 0,0002289 3,528 f tabel = 2,2622 constanta 649,383 45,799 r2 = 69,2% dari perhitungan itu, diperoleh persamaan regresi sebagai berikut. y = 649, 383 – 517,436x1 – 0,01933x2 + 0,0002289x3 + e y = ihsg x1= bunga deposito x2 = kurs rupiah x3 = harga emas hasil regresi tersebut dapat diartikan seperti berikut. 1. jika bunga deposito naik sebesar 1 satuan, ihsg akan turun sebesar 517,436 satuan atau sebaliknya dengan asumsi kurs rp/us$ dari harga emas tidak berubah. 2. jikamkurs rp/us$ naik sebesar 1 satuan, ihsg akan turun sebesar 0,01933 satuan atau sebaliknya dengan asumsi bunga deposito dan harga emas tidak berubah. 3. jika harga emas naik 1 satuan, ihsg akan naik sebesar 0,0002289 satuan atau sebaliknya dengan sumsi bunga deposito dan kurs rp/us$ tidak berubah. koefisien determinasi (r2) hasil perhitungan tabel 1 menunjukan nilai r2 sebesar 69,2%. artinya 69,2% perubahan variabel dependen y (ihsg) disebabkan oleh perubahan variabel independen x1 (bunga deposito), x2 (kurs rp/us$), dan x3 (harga emas) secara bersama – sama. sisanya sebesar 30,8% dipengaruhi oleh variabel lain yang tidak termasuk dalam model. uji koefisien regresi pada matriks hasil regresi terlihat bahwa t hitung koefisien x1 sebesar –26,232; t hitung koefisien x2 sebesar –2,917 dan t hitung koefisien x3 sebesar 3,528 sedangkan t tabel (0,05;505) = 2,4469. karena semua t hitung lebih besar dari t tabel, dapat dikatakan bahwa koefisien variabel bunga deposito, kurs rp/us$, dan harga emas secara signifikan dari masing–masing variabel dependen (ihsg) secara individu. journal the winners, vol. 3 no. 1, maret 2002: 1-10 8 pada matriks hasil regresi terlihat bahwa f hitung = 378,363 yang lebih besar dari f tabel (0,05;3;505) = 2,6226. dengan demikian, terdapat pengaruh yang signifikan dari variabel independen (bunga deposito, kurs rp/us$, dan harga emas secara bersama–sama. dari hasil uji koefisien regresi, dapat disimpulkan sebagai berikut. 1. terdapat pengaruh yang signifikan atau 69,2% perubahan ihsg dipengaruhi oleh bunga deposito, kurs rp/us$, dan harga emas secara bersama – sama. 2. bunga deposito mempunyai pengaruh negatif terhadap ihsg. 3. harga emas memiliki pengaruh positif terhadap ihsg. hasil regresi dan pengujian menyimpulkan variabel independen bunga deposito dan kurs rp/us$ memiliki pengaruh negatif secara signifikan terhadap variabel dependen ihsg. di lain pihak, variabel independen harga emas mempunyai pengaruh positif terhadap variabel dependen ihsg. pengaruh negatif bunga deposito terhadap ihsg pengaruh negatif bunga deposito terhadap ihsg artinya jika bunga deposito naik, ihsg atau harga saham secara umum akan turun. sebaliknya jika bunga deposito turun, ihsg atau harga saham secara umum akan naik. keadaan tersebut terkondisi karena preferensi investor dalam memilih investasiya agar dapat mengoptimalkan hasil. hubungan antara investasi dalam saham dan deposito bersifat subtitusi. jika perbankan mengumumkan bunga deposito naik dan cukup signifikan, sebagian besar investor dalam saham akan berpaling menginvestasikan uangnya pada deposito. naiknya suku bunga deposito itu mendorong terjadinya aksi jual saham karena akan dialihkan pada deposito. selama investor menganggap investasi deposito masih menguntungkan (asumsi investor sudah mempertimbangkan aspek risiko), akan terus terjadi aksi jual saham itu mengakibatkan harga saham akan turun karena penawaran saham meningkat. jika harga saham turun, ihsg pun akan turun. aksi jual saham akan berhenti apabila perbankan menurunkan kembali bunga deposito pada tingkat keseimbangan. penurunan tingkat deposito akan dilakukan perbankan jika dana dari pihak ketiga sudah melampaui kebutuhan penyaluran kredit. jika perbankan tidak menurunkan buga deposito, dana pihak ketiga yang tidak tersalurkan dalam kredit semakin besar, artinya cost of money setiap uang yang dipinjamkan semakin besar. jika perbankan melakukan penurunan bunga deposito, investor deposito akan berpaling pada investasi saham. dengan kata lain, investor deposito akan mencairkan depositonya dan segera membeli saham. makin banyak investor membeli saham, permintaan dan harga saham maupun ihsg juga meningkat. pengaruh negatif kurs rp/us$ terhadap ihsg pengaruh positif harga emas terhadap ihsg terjadi jika harga emas naik, ihsg secara umum akan naik juga. sebaliknya jika harga emas turun, ihsg secara umum akan turun juga. variabel harga emas itu berbeda dengan variabel bunga deposito dan kurs rp/us$. artinya, hubungan antara investasi dalam saham dan pembelian emas tidak bersifat subtitusi karena pengaruh bunga deposito, kurs mata uang… (guntur irianto) 9 masyarakat tidak menganggap pembelian emas sebagai alternatif investasi tetapi lebih bersifat konsumtif. harga emas dalam analisis ini merupakan harga emas batangan. harga emas batangan tersebut terbentuk karena mekanisme pasar termasuk pasar umum bagi masyarakat secara luas. tujuan masyarakat luas dalam membeli emas lebih bersifat untuk perhiasan dan bukan untuk tujuan investasi. oleh karena itu, antara investasi dalam saham dan pembelian emas tidak bersifat subtitusi sehingga pengaruh harga emas terhadap ihsg tidak negatif sebagaimana hipotesis yang telah di kemukakan. untuk mengungkap mengapa harga emas berpengharuh positif terhadap ihsg, perlu penelitian lebih lanjut. penutup simpulan dari hasil analisis penelitian secara keseluruhan, dapat diambil simpulan sebagai berikut. 1. perubahan pada tingkat suku bunga deposito yang dijamin oleh pemerintah akan mempengaruhi ihsg secara negatif. hal itu disebabkan adanya preferensi investor untuk mengoptimalkan investasinya karena antara investasi pada saham dan deposito bersifat subtitusi. 2. perubahan atas tingkat kurs rp/us$ akan mempengaruhi ihsg secara negatif. hal tersebut disebabkan adanya preferensi investor untuk mengoptimalkan investasinya karena antara investasi pda saham dan us$ bersifat subtitusi. 3. perubahan atas harga emas akan mempengaruhi ihsg secara positif dan tidak negatif. hal tersebut karena pembelian emas oleh masyarakat bukan bermotif investasi tetapi bermotif konsumtif untuk perhiasan. jadi, hubungan investasi pada saham dan pembelian emas bersifat subtitusi. 4. perlu penelitian dan kajian lebih lanjut mengapa harga emas berpengaruh positif terhadap ihsg. 5. tingkat bunga deposito dan kurs rp/us$ dapat dijadikan sebagai bahan analisis keputusan investasi dalam saham. daftar pustaka algifari. 1997. analisis statistik untuk bisnis. edisi pertama. yogyakarta: bp-fe. anonim. 1995. undang-undang republik indonesia no. 8 tahun 1995 tentang pasar modal. jakarta. f. stoner, james. 1982. management. second edition. new york: prentice hall inc. helfert, erich. 1994. teknik analisis keuangan. petunjuk praktis untuk mengelola dan mengukur kinerja perusahaan, terj. herman wibowo. jakarta: erlangga. journal the winners, vol. 3 no. 1, maret 2002: 1-10 10 higgins, robert c. 1989. analisis keuangan, terj. gunawan. edisi 2. jakarta: pt indira. husnan, suad. 1998. dasar–dasar teori portofolio dan analisis sekuritas. edisi tiga. yogyakarta: upp-amp ykpn. karnadi, steve. 1993. manajemen pembelanjaan. yayasan promotion humania edisi kedua. jakarta. santoso, singgih. 1999. spss (statistical product and service solutions)-mengolah data statistik secara profesional. jakarta: pt elex media komputindo. supranto, j. 1991. teknik pengambilan keputusan. edisi pertama. jakarta: pt rineka cipta. _________. 1989. metode riset aplikasi. jakarta: lp-fe ui. scott. 1993. analisis pasar modal. jakarta: pustaka sinar harapan. sharpe, william f., gordon a., dan jeffery v. baikey. 1995. investasi, terj. henry njoooiangtik et al. jakarta: pt prenhalindo. usman, marzuki. 1990. “abc pasar modal”. kerjasama lembaga pengembangan perbankan indonesia dengan ikatan sarjana ekonomi indonesia, jakarta. _____________. 1982. metodologi riset. edisi revisi. yogyakarta: bp-fe ui. _____________. 1997. pengetahuan dasar pasar modal. jakarta: ibi. weston j, fred dan brigham eugene f. 1998. dasar–dasar manajemen keuangan, terj. alfons sirait. jakarta: erlangga. _____________ dan thomas e. copeland. 1986. manajemen keuangan, terj. kirbrandoko et al. edisi 8. jakarta: erlangga. microsoft word 06_titik indrawati_merger bank bermasalah.doc merger bank bermasalah di indonesia (titik indrawati) 151 merger bank bermasalah di indonesia titik indrawati1 abstract the basic of problem for direction and senior manager bank is how to maximalize the value of share owner. it focus on how to make value by merger, how to get the value of bank target, and how to consider the nonfinancial influence the value by merger. the objective of the research wrap up the traveling’s merger and acquisition phenomenon in indonesia. that objective are more focused on how merger can increase value, how to decide bank’s value and the non financial parameter that can affact the sucsess of the merger comp. it’s concluded that indonesian society see bank merger as a final action to save a bank from bankcoruptcy. in negotiating the merger agreement, buyer and seller must consider the financial & non financial parameters. keywords: bank, merger abstrak fokus pembahasan ditujukan pada bagaimana merger menambah nilai, bagaimana menentukan nilai bank target, serta bagaimana pertimbangan nonkeuangan mempengaruhi nilai dan sukses perusahaan baru sesudah merger. kata kunci: bank, merger 1 staf pengajar universitas indonesia & fakultas ekonomi, ubinus, jakarta journal the winners, vol. 2 no. 2, september 2001:151-162 152 pendahuluan penggabungan usaha atau merger bank di tanah air masih dipandang sebagai upaya terakhir dari pemiliknya untuk menyelamatkan bank dari kebangkrutan. padahal, bank yang sehat pun dapat melakukan merger terutama dengan tujuan agar memperkuat posisi bank mereka di arena persaingan global dewasa ini. memang, terdapat beberapa bentuk merger yang perlu kita ketahui. menurut pinches (1992:723), merger dapat mempunyai beberapa bentuk sebagai berikut. 1. konsolidasi yang terjadi jika dua perusahaan atau lebih bergabung membentuk perusahaan yang sama sekali baru. 2. merger dapat terjadi melalui akuisisi saham perusahaan sasaran (target). perusahaan pembeli mengakuisisi baik aset maupun kewajiban dari perusahaan target dengan ditukar saham atau kas. 3. merger dapat terjadi melalui akuisisi aset dari perusahaan target. jika perusahaan target menjual asetnya, hasil penjualannya (sesudah membayar utang-utangnya) dapat didistribusikan kepada pemegang saham perusahaan target. selanjutnya, perusahaan dapat dibubarkan. jika suatu perusahaan memutuskan menjual sebagian asetnya maka dinamakan divesture. 4. suatu perusahaan dapat mengakuisisi 40%-50% kepemilikan perusahaan lain dan menjadi holding company. dari perspektif historisnya, terdapat empat gelombang besar dari aktivitas merger (rachman et al, 1993:52-53). gelombang besar aktivitas merger yang pertama berlangsung tahun 1881-1911 ketika kapitalis menciptakan trust monopolistik raksasa dengan membeli cukup banyak saham dari perusahaan pesaing dalam industri dasar seperti baja dan minyak untuk mengendalikan pasar. merger terjadi antarperusahaan dalam industri yang sama (merger horizontal). merger ini bertujuan untuk mencapai keuntungan dari skala ekonomi dan mencegah persaingan mencekik leher. timbulnya gerakan antitrust pemerintah mengakhiri gelombang ini, walaupun akhir-akhir ini merger horizontal muncul kembali. gelombang kedua ditandai dengan munculnya merger vertikal yang mengalami boom pada tahun 1920 an. suatu perusahaan bergabung ke hulu atau ke hilir, dengan kata lain akses ke pemasok atau ke pasar. gelombang ketiga berlangsung akhir tahun 1960-an dan awal 1970-an ketika korporat mengambil alih bisnis yang tidak ada kaitannya. merger konglomerat dirancang untuk menambah pertumbuhan perusahaan dan mendiversifikasikan risiko. secara teoritis, jika satu bisnis turun, bisnis yang lain diharapkan akan naik sehingga memberikan gambaran kinerja yang seimbang bagi perusahaan secara keseluruhan. namun, banyak konglomerat super pada akhir tahun 1960-an kini memecah perusahaannya dengan pelbagai alasan seperti melangsingkan operasi, membangun modal untuk yang lain, atau melepas subsidiary yang tidak menguntungkan. gelombang terbaru berlangsung tahun 1980-an, selama dekade ini banyak persetujuan dibuat untuk meningkatkan operasi perusahaan, kesempatan membuat keuntungan dengan cepat. kenyataannya, banyak yang mempunyai nilai gabungan melebihi nilai daripada semua saham mereka. pengambil alih yang cerdas, menjual bagian demi bagian untuk membayar utang mereka, dan tetap memiliki kelebihan uang. namun, ada juga perusahaan yang mengalami kesulitan keuangan seiring cara seperti itu, yakni jika ekonomi tidak seperti yang diharapkan sehingga mereka terpaksa mengumumkan kebangkrutan. merger bank bermasalah di indonesia (titik indrawati) 153 merger tahun 1980-an mempunyai segi positif, yakni ketakutan menjadi perusahaan sasaran, mendorong perusahaan menjadi efisien. pemegang saham memperoleh keuntungan dari aktivitas merger yang mendorong kenaikan harga pasar saham perusahaan target yang diambil alih. merger yang berlangsung tahun 1980-an sangat kontras, berlangsung untuk tujuan strategis. selain mereka menggunakan utang untuk pengambilalihan, yang nantinya dijual untuk memperoleh profit dengan cepat, mereka juga mempunyai motif agar mendapat kekuatan geografik. merger tahun 1990-an melibatkan pembeli luar negeri atau penjual luar negeri. perusahaan perawatan kesehatan swiss membeli 60% saham genentech, yakni perusahaan bioteknologi amerika untuk memperoleh baik kekuatan geografik juga teknologi baru. pembeli menggunakan saham atau kas untuk mengakuisisi bisnis secara selektif yang akan meningkatkan posisinya di pasar, seperti at & t mengakuisisi ncr dengan tujuan memperkuat bisnis komputer at & t. pembahasan bagaimana merger berlangsung pada kebanyakan merger, salah satu perusahaan (umumnya yang lebih besar) memutuskan untuk membeli perusahaan lainnya, menegosiasikan harga, dan kemudian melaksanakan pengambilalihan. adakalanya perusahaan yang diambil alih yang memulai tindakan, walaupun hal itu tidak begitu lazim. selanjutnya, menyebut perusahaan yang ingin mengambil alih sebagai perusahaan pembeli dan perusahaan yang dibeli sebagai perusahaan sasaran (target). perusahaan pembeli biasanya mengidentifikasikan sasaran dan menentukan berapa kirakira harga yang cocok untuk dibayar. usulan merger beserta syarat yang sesuai diajukan kepada manajemen perusahaan target. jika tercapai kesepakatan, diteruskan kepada para pemegang saham agar mendapat persetujuan dari para pemegang saham. transaksi yang terjadi sesudah mendapat persetujuan para pemegang saham disebut sebagai merger bersahabat (suka rela). sebagian besar dari seluruh merger dan akuisisi merupakan merger suka rela (friendly merger). salah satu yang menjadi headlines disurat kabar umumnya pengambilalihan secara paksa (hostile merger), yaitu salah satu pihak berjuang untuk memperoleh pengendalian dari perusahaan lain melawan harapan dari manajemen yang ada. jika raider sukses dalam pengambilalihan, manajemen yang ada biasanya diberhentikan. karenanya manajemen akan berjuang untuk bertahan terhadap penyerang mereka. suatu pengambilalihan secara paksa dapat dilakukan dengan dua cara, yakni penawaran tender dan proxy flight. dalam penawaran tender, raider mengajukan penawaran untuk membeli sejumlah saham tertentu perusahaan target dengan harga khusus, langsung kepada pemegang saham perusahaan target. harga yang ditawarkan umumnya melebihi harga pasar saham pada saat itu, jadi pemegang saham termotivasi untuk menjual. raider berharap memperoleh cukup saham untuk mengambil pengendalian atas perusahaan target dan mengganti dewan direksi dan manajemen yang ada. dalam proxy flight, raider meluncurkan suatu perang untuk dapat memecat journal the winners, vol. 2 no. 2, september 2001:151-162 154 dewan direksi dan manajemen, dengan cara mempengaruhi para pemegang saham agar dalam pemungutan suara dapat memperoleh cukup suara untuk memenuhi keinginannya. proxy flight merupakan cara kasar untuk menang. at & t melancarkan pembelian ncr dengan menggunakan kombinasi penawaran tender dan proxy flight. motif yang mendorong tingginya aktivitas merger i. sinergi efek sinergi timbul dari empat sumber, yakni skala ekonomi, menaikkan kekuatan di pasar, menambah kapasitas pinjaman, dan menambah efisiensi dengan perbaikan manajemen. keberhasilan sinergi akan menaikkan nilai perusahaan gabungan sesudah merger. nilai a + nilai b = nilai c 2 + 2 = 5 ii. pertimbangan pajak perusahaan dengan laba besar terkena tarif pajak tinggi dapat mengambil alih perusahaan dengan akumulasi kerugian yang besar sehingga akan mengurangi laba kena pajak. sebaliknya, perusahaan mempunyai potensi untuk memperoleh penghematan pajak (tax shield) tetapi tidak dapat dimanfaatkan karena tidak memperoleh laba. dengan demikian, perusahaan semacam ini akan bergabung dengan perusahaan yang profitable agar pajak yang dibayar oleh perusahaan profitable lebih kecil. kelebihan kas dapat dipergunakan untuk membayar dividen ekstra, repurchases, investasi dalam marketable securities atau melakukan akuisisi. akuisisi tidak menimbulkan konsekuensi pajak secara langsung kepada perusahaan pembeli. iii. pembelian aktiva di bawah harga penggantian itu menunjukkan perusahaan pembeli mempunyai informasi lengkap yang tidak dimiliki oleh umum. namun sekarang, bank-bank investasi, pialang merger, mempunyai jaringan informasi yang luas dan terdapat persaingan yang besar di kalangan pembeli potensial. iv. diversifikasi ternyata, diversifikasi tidak menaikkan nilai saham perusahaan gabungan. tujuan diversifikasi untuk mengurangi risiko. jadi, diversifikasi merupakan alasan yang kurang tepat untuk melakukan merger. v. mempertahankan pengendalian pengambil alih akan menjadi pemilik atau pemegang saham dari perusahaan target dan berhak memilih dewan komisaris. pada perusahaan besar, para pemilik saham melakukan pengendalian secara tidak langsung melalui dewan komisaris yang mereka pilih. dewan komisaris yang dipilih akan memilih manajemen yang mengendalikan operasi perusahaan. merger bank bermasalah di indonesia (titik indrawati) 155 bagaimana merger menambah nilai apakah merger menguntungkan, dapatlah diperbandingkan nilai pasar perusahaan gabungan sesudah transaksi dengan jumlah nilai pasar perusahaan independen sebelum transaksi. jika nilai gabungan melebihi nilai premerger, merger meningkatkan nilai. sebaliknya, berarti nilai turun. nilai diciptakan dalam dua cara. cara pertama, bank gabungan dapat membentuk kenaikan pendapatan dibandingkan norma historis. sumber pendapatan potensial ini sangat luas dan terdiri dari lima hal berikut. 1. memasuki pasar baru yang menarik; 2. lini produk lebih kuat; 3. memperbaiki pemasaran/distribusi produk; 4. memperbaiki kapabilitas; 5. memangkas biaya. hal pertama hingga keempat sulit diukur karena ketidakpastian tentang struktur perusahaan gabungan. untuk meningkatkan nilai, pengambil alih akan mempertahankan karyawan terbaik dari bank sasaran, mempertahankan nasabah terbaik, dan kultur yang baik dari bank sasaran. dalam banyak kasus, justru direktur dan karyawan dari bank yang diambil alih sering keluar karena mereka merasa tidak akan mendapat kesempatan yang sama seperti sebelumnya atau mereka yang akhirnya dibiarkan pergi. nasabah juga sering memindahkan hubungan baik mereka. mereka mungkin frustrasi dan lebih menyukai untuk mengadakan bisnis dengan pemilik bank lokal. mereka mungkin akan mengikuti pimpinan bank dengan siapa sebelumnya mereka mengadakan bisnis. dengan ketidakpastian ini, ramalan pendapatan sulit dipercaya terutama dalam waktu singkat. pemangkasan biaya mendapat perhatian khusus karena pengambil alih mempunyai pengendalian langsung terhadap biaya nonbunga. misalnya, bank yang kelebihan kapasitas pemrosesan data ((penguasaan teknologi informasi), sering memandang akuisisi sebagai suatu cara membentuk aktivitas yang menurunkan unit cost dengan memperluas biaya tetap teknologi di antara lebih banyak item. banyak bukti menunjukkan bahwa bank dapat merealisasikan skala ekonomi dengan adanya perluasan. pemangkasan biaya yang sesungguhnya dapat terjadi jika pengambil alih dan bank sasaran mempunyai duplikasi fasilitas operasi staf, dan administrasi umum. suatu merger memungkinkan perusahaan gabungan menawarkan kualitas dan tingkat pelayanan yang sama dengan aset modal dan orang-orang yang lebih sedikit daripada dua bank terpisah. kelebihan kapasitas dan karyawan dalam melayani nasabah dari kedua pihak yang melakukan merger berarti duplikasi biaya nonbunga dapat dihapuskan. reduksi biaya langsung menaikkan bottom line. cara kedua, menciptakan nilai dengan meningkatkan pangsa pasar. walaupun tingkat pendapatan tetap, tidak mengubah postmerger. suatu bank nantinya dapat menempatkan dirinya sebagai pelaku akuisisi pada waktu mendatang dengan menangkap pangsa pasar simpanan yang lebih besar. misalnya, merger antara dua bank swasta ukuran besar di jepang pada april 1996, yakni antara bank of tokyo yang unggul sebagai bank korporat (corporate banking) dengan mitshubisi bank yang unggul sebagai bank eceran (retail banking). merger itu bertujuan meningkatkan pangsa pasar mereka dalam menghadapi persaingan global di bidang perbankan. journal the winners, vol. 2 no. 2, september 2001:151-162 156 contoh lain adalah merger antara chemical bank dan chase manhattan di amerika serikat pada tahun 1996. walaupun menghadapi banyak risiko akhirnya itu kedua bank dapat menangani 1.300 proyek dalam waktu 20 bulan. keberhasilan tercermin pada harga saham chase yang naik menjadi 91 dollar as pada tahun 1999 dari 45 dollar as tahun 1996. kunci suksesnya adalah kemampuan memenuhi the seven rules yang akan dibahas di bagian merger dan akuisisi bank di indonesia. prosedur penilaian penambahan nilai bank gabungan berkat perbaikan bauran aset produktif, perbaikan penentuan harga, pemangkasan biaya operasi per unit, kesempatan memasuki pasar baru, penawaran produk baru, dan akses ke core deposits. semuanya itu dimasukkan dalam analisis pada harga berapa pengambil alih akan membayar bank target atau pada harga minimal berapa penjual mau menerima. setelah menghitung berapa harga beli, baik pembeli maupun penjual seharusnya mengevaluasi profil risk and return lainnya menggunakan data keuangan historis. pendekatan yang lazim adalah kerangka roe dengan analisis kredit bank, likuiditas, tingkat bunga, operasional, posisi risiko solvensi. karena rasio tersebut mencerminkan kinerja historis, merupakan indikator penting dari kekuatan, kelemahan, dan dapat menolong untuk menentukan nilai ekonomi perusahaan. pemegang saham bank target memfokuskan perhatian pada premi relatif atas harga saham sebelum pengumuman transaksi. dalam transaksi dengan kas, premi mencerminkan kenyataan kenaikan nilai dari transaksi. jika pengambil alih ingin mempertukarkan saham perusahaan pembeli dengan saham perusahaan target, pemegang saham target untung jika nilai dari saham perusahaan baru melebihi nilai dari saham perusahaan target sendiri. itu menunjukkan suatu kenaikan dalam nilai jika saham dapat segera dilikuidasi untuk lebih daripada nilai saham target, atau jika arus kas yang diharapkan dengan memegang saham baru melebihi daripada hanya memegang saham target. dalam kasus ini, nilai yang tepat tergantung pada pembayaran dividen yang diharapkan dan harga saham jika akhirnya dijual. suatu merger dan akuisisi seharusnya diperlakukan seperti investasi dan dapat dievaluasi. jadi secara teoritis, prosedur untuk menentukan nilai adalah mendiskontokan arus kas yang diharapkan dari entitas baru pada tingkat diskonto yang sesuai. karena pendekatan itu menggunakan banyak komponen penting dari model pv (present value) maka akan didapat jangkauan (range) dari taksiran harga yang wajar. kedua pihak selanjutnya menggunakan jangkauan harga tersebut untuk negosiasi. hasil akhir akan mencerminkan harga dan kekuatan tawar-menawar masing-masing pihak dan keuntungan yang tidak lazim yang dimasukkan ke dalam harga seperti pengenalan publik (image), ego, dan lain-lain. prosedur lain adalah premi atas nilai buku. kebanyakan bankir dan analis pasar mendiskusikan harga berdasarkan nilai buku, yakni ekuisitas pemegang saham seperti yang dilaporkan dalam neraca dan setara dengan jumlah aset dikurangi utang. nilai buku per lembar saham setara dengan nilai buku dari ekuisitas pemegang saham dibagi dengan jumlah saham yang beredar. premi atas nilai buku dalam transaksi adalah selisih antara harga per lembar yang ditawarkan kepada pemegang saham target dengan nilai buku per lembar saham bank target, biasanya dinyatakan dalam persen. merger bank bermasalah di indonesia (titik indrawati) 157 (mpt – bvt) premi atas nilai buku = ____________ bvt mpt = harga saham yang ditawarkan untuk per lembar saham bank target bvt = nilai buku per lembar saham bank target jadi, jika nilai buku perlembar saham bank target rp 40.000,00 dan pengambil alih menawarkan rp 52.000,00 per lembar saham, maka premi atas nilai buku adalah 30%. harga transaksi per lembar saham bank target (p bv) ditentukan dengan p bv = │ bvt mpt │avg x bvt │ bvt mpt │avg dihitung dari rata-rata premi yang ditawarkan pada transaksi yang berhasil akhirakhir ini oleh institusi yang dapat diperbandingkan. jika premi rata-rata 80%, p bv = 1,8 x rp 40.000,00 = rp 72.000,00 persyaratan merger juga dapat menggunakan rasio pertukaran, yakni jumlah saham bank pembeli yang diterima oleh pemegang saham bank target untuk setiap lembar saham mereka. p bv bvt ( 1+premi ) e = _____ = _____________ mpa mpa e = rasio pertukaran mpa = harga per lembar saham bank pembeli prosedur itu mempunyai kelemahan karena nilai buku tidak menunjukkan nilai ekonomi yang sebenarnya. umumnya, premi atas nilai buku dipertimbangkan jika hasil yang diharapkan relatif lebih besar daripada risiko yang berkaitan atau jika akuisisi memberikan keuntungan yang tidak dapat diukur secara langsung. premi atas nilai buku yang disesuaikan karena nilai buku yang dilaporkan sangat berbeda dengan nilai ekonomi yang sebenarnya, sebaiknya dihitung nilai buku yang disesuaikan. suatu perbandingan harga pasar dengan nilai buku yang disesuaikan akan memberikan ukuran yang lebih baik dari premi yang dibayar. nilai buku yang disesuaikan mungkin lebih tinggi atau lebih rendah daripada nilai buku karena diperoleh dengan menambahkan atau mengurangi nilai buku dengan item sebagai berikut. 1. perubahan dalam cadangan kerugian pinjaman (loan). jika kualitas aset lebih rendah daripada yang dilaporkan, cadangan kerugian pinjaman seharusnya ditetapkan kembali lebih tinggi, agar pinjaman bersih lebih rendah daripada yang dilaporkan. jika kualitas aset lebih tinggi, cadangan kerugian seharusnya disesuaikan menurun agar pinjaman bersih lebih tinggi. journal the winners, vol. 2 no. 2, september 2001:151-162 158 2. perubahan dalam nilai pasar investasi. investasi portofolio didaftarkan atas cost. jika nilai pasar sekuritas jauh berbeda dengan cost karena kenaikan atau penurunan tingkat bunga, perbedaan antara nilai pasar dan nilai buku seharusnya ditambahkan ke nilai buku. 3. perubahan dalam penilaian aset lain. kadang-kadang bank mempunyai real estate atau aset lainnya yang nilai pasarnya jauh berbeda dengan cost yang muncul dalam neraca. jika nilai pasar di atas nilai buku, perbedaannya seharusnya ditambahkan pada nilai buku akuisitas. 4. nilai dari aktivitas off-balanced sheet. kemampuan pendapatan dari item off-balanced sheet umumnya tidak tampak dalam neraca. jika aktivitas ini bernilai maka taksiran nilai pasar seharusnya ditambahkan pada nilai buku ekuisitas. 5. nilai dari simpanan inti (core deposit). simpanan ini menarik karena relatif stabil. pengambil alih dapat mendongkraknya dengan menjual tambahan pelayanan kepada pemegang simpanan yang ada sekarang. nilai itu juga dikaitkan dengan nilai franchise dari bank atau nilainya sebagai suatu organisasi yang going concern. sayangnya, nilai ini sulit untuk ditaksir. pertimbangan nonkeuangan dari setiap transaksi merger, terdapat pertimbangan nonkeuangan yang sering lebih penting. manajer dari pembeli maupun penjual mempunyai obyektif mendasar, kesempatan, dan kekuatiran apakah akan untung ataukah rugi dari suatu persetujuan. walaupun dalam merger dua bank yang sama besar, satu pihak memperoleh keuntungan atas biaya bagi yang lain, dan ego menjadi pertimbangan terdepan. sangatlah sulit bagi seorang pimpinan bank untuk menyerahkan pengendalian atas organisasi yang pernah dikuasai, sehingga transaksi suka rela sulit diselesaikan, kecuali jika persoalan utama dari personil berhasil diselesaikan. dengan adanya pengambilalihan secara paksa, umumnya tim manajemen senior dari bank pembeli kebanyakan pindah. walaupun biaya merupakan pertimbangan penting dalam transaksi, pembeli dan penjual punya obyektif nonharga. bagi pembeli, khususnya sebagai berikut. 1. menghindari komplikasi keuangan dan operasional postmerger; 2. mempertahankan karyawan dari bank target; 3. mempertahankan pelanggan terbaik dari bank target; dan 4. mempertahankan aspek-aspek budaya yang menguntungkan dari bank target. dalam banyak kasus, bank mempunyai perbedaan sistem komputer dan perangkat lunak,\ tetapi pengambil alih ingin mengubah bank target ke sistemnya untuk memotong biaya. jika terdapat halangan operasional, nasabah relatif tidak sabar dan memindahkan hubungan baik mereka. karyawan kunci juga sulit dipertahankan. mereka bersama karyawan lain dapat pindah ke bank lain yang lebih menguntungkan, seiring dengan kenaikan gaji yang cukup besar. kehilangan itu mempersulit pendapatan dan dapat merusak image bank terhadap masyarakat. karyawan tingkat rendah bank target sering takut kehilangan jaminan pekerjaannya, dengan dalih pemotongan biaya sering dilakukan perampingan biaya personil. walaupun karyawan bertahan namun kemungkinan sulit mendapatkan kenaikan gaji dan jaminan lainnya mungkin berkurang. ketidakpastian itu menimbulkan ketakutan hebat. penjual dalam transaksi suka rela ingin menyelesaikan persetujuan tanpa suatu risiko residual apapun. ini berarti ingin mengganti kerugian terhadap kewajiban atau kerugian yang tidak merger bank bermasalah di indonesia (titik indrawati) 159 nampak sekarang yang mungkin timbul dari keputusan pada masa jabatan mereka. mereka sangat peduli dengan ukuran premi yang ditawarkan. dalam transaksi dengan kas, persoalan berikutnya adalah kapan pembayaran kas akan dilakukan. dalam transaksi dengan sekuritas, persoalan pokok adalah nilai dan marketability dari sekuritas. merger dan akuisisi bank di indonesia dalam periode waktu tahun 1848-1966, dari catatan pdbi terdapat 66 bank yang dilikuidasi. jumlah itu belum termasuk bank summa yang hingga akhir juli 1996 masih dalam proses likuidasi dan bank umum majapahit jaya (bumj) yang izin usahanya dibekukan untuk sementara waktu karena menunggu penyelesaian yang dilakukan oleh bank lippo (kompas, 26 juli 1996). peristiwa kebangkrutan bank paling sering terjadi pada periode tahun 1960-1970 karena tatanan ekonomi nasional belum sekokoh sekarang dan terjadi peristiwa g.30.s (gerakan 30 september) yang membuat perekonomian menjadi kacau. jumlah bank yang terkena skors bank indonesia (bi) dan dilarang ikut kliring pernah mencapai 21 bank. pemerintah cepat turun tangan dan melalui keputusan bi 614/mk/ii/8/1971, bank sentral memberikan banyak rangsangan untuk mendorong bank melakukan merger, antara lain memberikan kelonggaran pajak dan fasilitas kredit lunak. hasilnya cukup memuaskan, hanya dalam periode tahun 1971-1976 terdapat 36 bank yang melakukan merger. namun, lebih dari setengahnya merupakan merger internal dengan bank satu grup. misalnya, bank sarana indonesia (1973) dan bank gemari (1976) melakukan merger internal ke bca. berikutnya, pada tahun 1979 indo commercial bank ikut bergabung. dalam periode waktu tahun 1971-1996, terdapat 74 bank yang melakukan merger. sebanyak 58 bank diakuisisi oleh 31 bank lain yang umumnya lebih besar. itu merupakan akuisisi baik internal maupun eksternal. sisanya, sebanyak 16 bank melakukan merger murni atau konsolidasi menjadi enam bank yang sama sekali baru (bank utama, tamara, panin, universal, swansarindo, dan bank darmala). dalam periode tahun 1993-1996, terdapat 19 bank mengalami perubahan kepemilikan sehubungan dengan masuknya pemegang saham nonbankir, yakni yayasan dana pensiun bumn. bahkan, empat diantara bank tersebut minta diakuisisi seluruh sahamnya oleh investor nonbankir. pemerintah menempuh penyelesaian bank bermasalah sesuai dengan pasal 37 uu no. 7 tahun 1992 dan bi menerapkan pola penyehatan bank secara serentak dan segera. secara bertahap sesuai dengan prioritas, menganalisis kondisi dan karakter bank bermasalah. pada tahap awal, bi akan meminta pengurus bank menyelesaikan sepenuhnya masalah yang dihadapi. jika belum berhasil, bi mengarahkan bank yang bermasalah tersebut untuk melakukan merger atau konsolidasi dengan bank lain. jika masih gagal, bi mendorong untuk dilaksanakan akuisisi oleh investor baru yang bersedia mengambil alih seluruh kewajiban bank. prosedur yang dilakukan bi sesuai dengan sk bi no.28/76/kep/dir tertanggal 3 oktober 1995. penjualan bank kepada pihak lain bukanlah hal yang mudah, terlebih-lebih bank raksasa yang kondisinya sudah sangat parah seperti kasus bank summa yang penyelesaiannya membutuhkan waktu sangat lama. journal the winners, vol. 2 no. 2, september 2001:151-162 160 besar kecilnya kompensasi yang diterima oleh pemilik lama sangat tergantung pada kondisi bank sebelum ditinggalkan. nilai akuisisi bank yang sehat umumnya ditentukan dari nilai aset yang ada. sebagai contoh, bank pelita yang diakuisisi 79% dari sahamnya pada tahun 1989, pemiliknya dibayar rp 24 miliar. harga itu sesuai dengan tolok ukur nilai aset bank pelita sebesar rp 41,6 miliar. padahal, modal banknya hanya rp 1,5 miliar ditambah cadangan rp 2,75 miliar dan laba ditahan rp 0,96 miliar. bank tersebut dikabarkan pada tahun 1992 pernah ditawar rp 55 miliar. sebaliknya, akuisisi yang dilakukan oleh bank danamon dan bca terhadap continental bank pada tahun 1994, pemiliknya hanya mendapat kurang dari rp 100,00 karena kondisi banknya sudah sangat parah. kedua bank pembeli terpaksa menyuntikkan modal baru sebesar rp 30 miliar, belum termasuk pengeluaran biaya-biaya advisory untuk jasa konsultan. tindakan terhadap bank bermasalah selama krisis moneter dan ekonomi di indonesia sebagai berikut. 1. 1 november 1997 terdapat 16 bank dilikuidasi. 2. 1 april 1998 terdapat 7 bank beku operasi dan 7 bank masuk bppn (badan penyehatan dan penyelamatan bank). 3. 21 april 1998 terdapat 3 bank beku operasi dan 4 bank take over (termasuk bca setelah terjadi rush). 4. 13 maret 1999 terdapat 38 bank dilikuidasi, 7 bank take over, dan 9 bank direkapitulasi. menurut kontan 31 desember 2001, ongkos yang menjadi beban rakyat untuk menyelamatkan perbankan merupakan biaya yang besarnya tidak terbayangkan. pemerintah dalam hal ini masih mengikuti resep bahwa bank harus diselamatkan berapapun mahal biayanya. ada dana blbi (bantuan likuiditas bank indonesia) rp144,5 triliun, obligasi penjaminan dana pihak ketiga rp 218 triliun, obligasi rekapitulasi perbankan rp 423, juta dan bunga obligasi yang harus dipikul setiap tahun yang menjadi beban anggaran belanja negara. tahun 2002 masih banyak borok tersembunyi perbankan yang masih berpotensi menjadi bom waktu; membahayakan pondasi perekonomian indonesia. januari 2001, kontan mengungkapkan bii (bank internasional indonesia) yang sudah menelan dana rekapitulasi ternyata menyimpan borok yang mematikan. unibank tidak semujur bii, sebagai bank yang relatif kecil, pemerintah menutup bank ini pada november 2001. pemerintah harus mengeluarkan dana rp 4 triliun untuk mengganti simpanan masyarakat di bank tersebut. hingga akhir tahun 2001, tak kurang dari 90% modal perbankan dikuasai pemerintah. untuk memenuhi persyaratan modal, sejumlah bank yang memiliki struktur permodalan lemah terpaksa melakukan merger. namun, hasil studi konsultan manajemen kelas dunia dari as mengungkapkan sangat tinggi persentase kegagalan merger di seantero dunia (kompas, 29 mei 2001). kegagalan pada tahap awal, yakni tahap pengembangan strategi, perekrutan calon, due diligence sebesar 30%, pada tahap negosiasi serta keputusan sebesar 17%, dan pada tahap setelah merger sebesar 53%. ada tujuh aturan main dalam merger (the seven rules) yang harus dipenuhi agar merger tidak mengalami kegagalan, yakni (a) visi setelah merger; (b) kepemimpinan (menghindari kekosongan kepemimpinan agar tidak berakibat hilangnya motivasi karyawan); (c) pertumbuhan (fokusnya bukan jangka pendek, melainkan pertumbuhan yang sustainable); (d) early wins (faktanya pekerja belum tentu siap begitu merger diumumkan); (e) budaya (perubahan budaya merger bank bermasalah di indonesia (titik indrawati) 161 tidak dapat secara cepat); (f) komunikasi (perlu formulasi komunikasi yang tepat); dan (g) manajemen risiko (perhatian lebih dalam terhadap risiko). kesalahan internal perbankan sebetulnya bukan merupakan buah keteledoran perbankan semata. iklim ekonomi makro dan faktor sosial politik juga ikut merunyamkan perekonomian yang semakin membuat perbankan mengalami kegagalan. itulah sebabnya selama krisis moneter dan ekonomi yang melanda indonesia sejak pertengahan tahun 1997, sangat banyak bank bermasalah yang sering diikuti dengan penutupan bank. usaha merger (walaupun tidak mudah) dapat dilakukan untuk menghindari penutupan bank. dalam artikel di tabloid kontan 31 desember 2001 prediksi perbankan indonesia pada tahun 2002 sebagai berikut. 1. kebijakan moneter masih ketat, membuat bank belum leluasa bergerak. 2. tidak tertutup kemungkinan akan terjadi kredit macet. 3. kredit masih akan tersendat karena kinerja keuangan yang masih rapuh. di samping itu, bank masih harus memenuhi npl (non permorfing loan) 5%. 4. konsolidasi akan terjadi di seluruh perbankan nasional dengan rencana merger atau dikenal dengan istilah rekapitulasi jilid ii. jika gagal, terbuka kemungkinan penutupan bank. 5. bi akan makin tegas terhadap kinerja bank. peraturan perbankan akan makin ketat lewat standar bis (bank international settlement). 6. penjaminan atas dana masyarakat masih akan berlanjut sampai terbentuk lembaga penjaminan tahun 2002. penutup simpulan problem pendapatan dan modal pada bank telah membawa bank untuk melakukan konsolidasi. banyak institusi atau organisasi pencari profit yang gagal sehingga mereka membutuhkan pembeli. bank dengan posisi modal yang kuat dapat menjadi pembeli bahkan dapat lebih selektif memilih rencana ekspansi mereka. pembeli dan penjual perlu menguji bermacam-macam pertimbangan keuangan maupun nonkeuangan jika memutuskan apakah akan menegosiasikan suatu kesepakatan merger, jika ya pada harga berapa? partisipan umumnya menggunakan prosedur yang berbeda-beda dalam menentukan nilai untuk bank yang diambil alih. prosedur yang sangat cocok ialah memandang pembelian saham bank sebagai investasi. pembeli meramalkan arus kas mandatang yang didiskontokan pada minimal tingkat pengembalian yang dibutuhkan untuk menentukan nilai ekonomi yang benar. prosedur lain dengan menggunakan rata-rata premi atas nilai buku ataupun rasio pendapatan. rata-rata historis ini kemudian diaplikasikan pada suatu ukuran keuangan bank yang ditargetkan untuk menaksir suatu jangkauan harga. umumnya, prosedur terakhir ini menghasilkan taksiran harga yang lebih tinggi daripada pendiskontoan arus kas mendatang. partisipan juga mempertimbangkan pokok persoalan nonkeuangan jika menegosiasikan suatu merger atau akuisisi. yang paling penting dalam transaksi sukarela ialah apakah kedua journal the winners, vol. 2 no. 2, september 2001:151-162 162 budaya cocok dan apakah pimpinan senior dapat bekerja sama. juga penting untuk mengetahui apakah usaha pemotongan biaya akan mengurangi kesempatan-kesempatan karyawan. merger umumnya memiliki aspek yang menguntungkan maupun yang merugikan, tergantung pada pemegang saham, karyawan bank, atau nasabah untuk memperbaiki kondisi mereka atau tidak. sukses tidaknya merger, dalam konteks perubahan, tergantung pada waktu dan pada ada tidaknya perbaikan. kunci sukses adalah menerapkan the seven rules pada setiap tahapan merger. di indonesia, masyarakat masih melihat merger bank sebagai usaha terakhir dari pemilik bank untuk melakukan penyalamatan dari kebangkrutan. merger akan menimbulkan keraguan di kalangan masyarakat yang dapat mengarah kepada hilangnya kepercayaan masyarakat kepada perbankan nasional. oleh karena itu, bi selaku otoritas moneter melakukan segala upaya untuk penyehatan bank dan tindakan penguasaan terhadap bank yang bermasalah untuk sementara waktu. daftar pustaka brigham, e.f. and gapenski, l.c. 1990. intermediate financial management. 3th edition. orlando: the dryden press. koch, t.w. 1992. bank management. 2nd edition. orlando: the dryden press. pinches, g.e. 1992. essential of financial management. 4th edition. new york: harper collins publisher. rachman, d.j., m.h. mescon, c.l.bovee, and j.f. thill. 1993. business today. 7th edition. new york: mcgraw-hill. kompas. 26 juli 1996. kompas. 29 mei 2001 kontan. no. 13, tahun vi, 31 desember 2001. microsoft word 02_sri hutomo_firm specific.doc keterbukaan informasi mengenai perlindungan konsumen… (sri hutomo) 11 keterbukaan informasi mengenai perlindungan konsumen merupakan informasi yang memiliki firm specific sri hutomo1 abstract article presents information on consumer protection by showing e.m. jackson cases versus nestle on product liability and breaking the law. the justice decision, foreign naturaldoctrine reasonable expectation test, and strict liablility. keywords: firm specific information, consumer protection abstrak artikel memaparkan kasus perselisihan e.m. jackson dengan nestle tentang pelanggaran hukum dan kelayakan produk. penjelasan meliputi uraian putusan pengadilan, isi gugatan, foreign naturaldoctrine, reasonable expectation test, dan strict liability. kata kunci: informasi firm specific, perlindungan konsumen 1 staf pengajar universitas mpu tantular & ubinus, jakarta journal the winners, vol. 3 no. 1, maret 2002: 11-18 12 pendahuluan pada bulan mei 1998, e.m. jackson membeli permen katydids (permen yang dilapisi karamel, coklat, dan kenari) produksi nestle. sewaktu menggigit permen tersebut, giginya patah. atas peristiwa tersebut, e.m. jackson mengajukan gugatan ke pengadilan berdasarkan alasan pelanggaran hukum (tuduhan i) dan strick liability/product liability, yaitu tanggung jawab atas keselamatan dan keamanan produk (tuduhan ii). di pengadilan, terjadi adu argumentasi mengenai tanggung jawab produsen khususnya yang berkaitan dengan doktrin foreign natural. doktrin itu menekankan pada perkiraan masuknya benda asing ke dalam campuran adonan secara alami dengan doktrin tes reasonable expectation terhadap pengetahuan konsumen berlandaskan perkiraan yang masuk akal mereka. gugatan konsumen terhadap produsen atau sengketa antara produsen dengan konsumen dapat terjadi karena berkaitan dengan asas tanggung jawab produsen. di samping itu, hampir di semua telah mempunyai uu tentang perlindungan konsumen bahkan di indonesia tanggung jawab produsen pangan juga diatur dalam uu tentang pangan. karena sengketa itu berpengaruh terhadap citra perusahaan, harga saham maupun pasar modal, peneliti menganalisis seberapa jauh uu no. 8 tahun 1995 tentang pasar modal yang mengatur kewajiban perusahaan publik, emiten menyampaikan informasi mengenai perlindungan konsumen, atau informasi yang memiliki firm specific harus disampaikan kepada calon maupun pemegang saham. bagi perusahaan publik, keterbukaan informasi yang bersifat umum dan khusus menjadi unsur penting yang harus dilakukan. informasi yang akurat diperlukan bagi investor sebelum melakukan investasi. semakin jelas informasi perusahaan seperti perlindungan konsumen, keinginan investor untuk berinvestasi semakin tinggi. hal itu berkaitan dengan keterbukaan informasi tersebut akan membentuk suatu penilaian terhadap investasi sehingga investor dapat menentukan pilihan secara optimal terhadap portofolio perusahaan yang bersangkutan. sebagai bahan analisis, digunakan contoh kasus e. m. jackson melawan nestle beich (putusan ma illinois no.71794 tanggal 12 maret 1992) yang dikaitkan dengan ketentuan uu no. 7 tahun 1996 tentang pangan. uu no. 8 tahun 1999 tentang perlindungan konsumen dan uu no. 8 tahun 1995 tentang pasar modal. pembahasan kasus elise m. jackson melawan nestle-beich (putusan ma illinois nomor 71794 tanggal 12 maret 1992 penggugat (e. m. jackson) menduga giginya patah karena menggigit permen coklat berlapis karamel produksi nestle. dia mengajukan tuntutan kepada perusahaan tersebut berdasarkan alasan pelanggaran hukum dan product liability (tanggung jawab produsen atas keselamatan dan keamanan produk). pengadilan keliling di madison country, lola p. maddox j. memberikan pengajuan mosi tergugat untuk putusan sumir dan penggugat menggunakan banding. peradilan banding dari diskrict kelima 212 ii app, 3 third 296, 155 iii. dec. 508, 569 n. e.2d 1119 mengumumkan kembali banding dari nestle. hakim freeman dari ma menyatakan keterbukaan informasi mengenai perlindungan konsumen… (sri hutomo) 13 bahwa tes reasonable expectation lebih baik daripada doktrin foreign naturalyang akan dipakai untuk menentukan tanggung jawab penjual produk makanan atas kerugian yang disebabkan oleh bahan ramuan dalam makanan. hal tersebut juga didukung oleh hakim heiple. berikut ini ringkasan keputusan pengadilan. 1. makanan tanggung jawab food procesors dan pabrikan didekati dengan teori reasonable expectation (perkiraan yang masuk akal), yaitu zat asing yang masuk diuji tanpa memperhatikan apakah subtansi zat dalam produk makanan masuk secara alami untuk menjadi bahan campuran makanan tersebut. tanggung jawab muncul karena ada keraguan yang disebabkan oleh substansi dan konsumen produk tersebut tidak akan berharap secara masuk akal untuk dapat menemukan zat dalam produk. oleh karena itu, doktrin foreign naturalmengenai masuknya barang asing secara alami tidak diberlakukan. 2. product liability state of art bukan pembelaan yang mensyaratkan adanya unsur kesalahan product liability. 3. product liability teori strict liability dimasukkan untuk dipakai pada sebuah produk yang berada pada jalur perdagangan dengan tidak memperhatikan apakah produk tersebut telah melalui proses yang benar atau tidak. 4. makanan sebatang coklat yang dibalut dengan permen karamel tidak patut untuk dimasukkan ke dalam kelompok produk yang tidak aman bagi penggunanya. oleh karena itu, tidak masuk dalam pengertian strict liability (tanggung jawab hukum tanpa kesalahan) karena pemberian gula pada produk tersebut kurang manfaat sosialnya kecuali dibebaskan dari tanggung jawab hukum. 5. makanan pembuat coklat yang dibalut dengan karamel, diberi pemanis dan kenari, berada dalam posisi yang dua kali lebih baik dibandingkan konsumen untuk mengidentifikasikan risiko yang timbul dari penambahan gula. karena itu, si pembuat tidak akan dibebaskan. fakta bahwa buah kenari dibungkus oleh kulit yang keras belum diketahui secara umum. proses makanan yang mengandung kulit kenari memerlukan pengetahuan dalam memisahkan unsur-unsur. 6. makanan si pembuat coklat tersebut tidak dapat lari dari strict liability dengan membuktikan bahwa ia bebas dari kesalahan. 7. product liability journal the winners, vol. 3 no. 1, maret 2002: 11-18 14 menurut tes reasonable expectation yang berkaitan dengan strict liability, pembuat makanan tersebut dapat mencantumkan peringatan mengenai produk mereka bila mengandung unsur-unsur yang mungkin menimbulkan kerugian/kecelakaan. hal itu berguna untuk menghindari tanggung jawab kerugian yang disebabkan oleh produknya. 8. makanan meskipun coklat tersebut aman, tetap saja dikenakan strict liability karena tidak mencantumkan tanda peringatan mengenai risiko yang mungkin terjadi. pada bulan mei 1998, jackson membeli permen katydids, yaitu permen yang dilapisi karamel coklat dan kenari buatan pabrik nestle. sewaktu menggigit permen itu, giginya patah. ternyata, pada permen tersebut terdapat kulit kenari. akibatnya jackson mengajukan gugatan terhadap nestle berdasarkan alasan pelanggaran hukum (tuduhan i) dan strict liability/product liability, yaitu tanggung jawab produk atas keselamatan dan keamanan produk (tuduhan ii). berdasarkan tuduhan i tersebut, nestle mengajukan usulan doktrin mengenai foreign natural, yaitu jika ada suatu unsur asing masuk dalam pembuatan produk makanan, hal tersebut terjadi secara alami masuk dalam campuran dari produk itu. dengan demikian, tidak ada tanggung jawab atas kerugian yang disebabkan oleh bercampurnya unsur asing dalam campuran tersebut sedangkan si pembuat bertanggung jawab atas kecelakaan akibat campuran tersebut. pengadilan menyimpulkan bahwa hukum yang berlaku di illinois, yakni suatu produk makanan dibuat bukan untuk tujuan tidak sehat dengan alasan memasukkan suatu substansi zat asing ke dalam campuran produk. sebaliknya, pengadilan banding memberikan mosi yang berlawanan dengan hal tersebut setelah melakukan tes reasonable expectation dihadapkan dengan doktrin foreign naturalyang berlaku pada yuridiksi tertentu. perkiraan yang masuk akal atau reasonable expectation menyatakan bahwa tanpa menguraikan apakah suatu zat dalam suatu produk makanan masuk secara alami dalam campuran makanan tersebut, tetap ada tanggung jawab atas terjadinya kerugian yang disebabkan masuknya zat yang tidak diharpkan oleh konsumen. lagipula, konsumen tidak mudah menemukan zat tersebut dalam produk. pengadilan banding menyimpulkan bahwa doktrin masuknya barang asing secara alami atau foreign natural semula timbul dalam perkara adonan dan hal ini diterima. pengadilan menentukan bahwa doktrin tersebut didasarkan pada asumsi kesalahan/kerusakan yang diketahui konsumen karena dalam persiapan produk makanan akan atau dapat memuat campuran apa pun secara alami. pada hakikatnya, pengadilan menyatakan bahwa campuran produk makanan yang secara mutlak merupakan objek yang ditemukan kembali hanyalah satu faktor yang dipertimbangkan secara hukum. apakah tergolong pelanggaran suatu ketentuan atau membuat produk menjadi berbahaya secara tidak masuk akal. hakim freeman setuju dengan kesimpulan dari pengadilan banding yang menyatakan bahwa doktrin zat asing secara alami tidak dikenal dan harus ditinggalkan. dalam pemeriksaan, pengadilan banding melakukan tes reasonable expectation dan meyampingkan doktrin foreign natural. tes reasonable expectation didasarkan pada pengetahuan konsumen dan perkiraan yang masuk akal. doktrin foreign natural menekankan pada perkiraan masuknya benda asing ke dalam campuran adonan secara alami. nestle menginginkan agar pengujian berdasarkan doktrin tersebut. hal itu ditolak oleh hakim pengadilan keterbukaan informasi mengenai perlindungan konsumen… (sri hutomo) 15 banding karena produsen makanan tetap dikenakan tanggung jawab atas keamanan makanan yang dijualnya. konsumen mustahil untuk mengeluarkan unsur atau zat yang diperkirakan dapat menimbulkan bahaya/kecelakaan. situasi itu dikenal dengan istilah strict liability. pengadilan berpendapat bahwa campuran produk makanan yang terjadi secara alami dan menimbulkan kecelakaan, tidak secara mutlak merupakan objek yang dapat ditemukan kembali (terlebih lagi oleh konsumen). hal tersebut hanya merupakan satu factor yang dipertimbangkan dalam menentukan apakah keberadaan campuran secara hukum merupakan pelanggaran atau membuat produk menjadi berbahaya. argumentasi nestle dalam mengajukan banding atas putusan pengadilan banding, keputusan tersebut telah menciptakan strict liability dalam praktik. pengadilan gagal untuk mengubah pengujian yang bersifat umum guna mengubah keberadaan pelanggar hukum atas produk makanan berhadapan dengan unsur asing dalam makanan atau kondisi yang menyebabkan penyakit, kerusakan, pembusukan, dan keracunan. nestle beralasan bahwa campuran yang secara alami menimbulkan kerugian bukan merupakan objek yang ditemukan dan keberadaannya semata-mata hanya pelanggaran hukum. pernyataan nestle membingungkan karena bila pengadilan banding gagal mengubah tes pelanggaran hukum produk makanan sebagai suatu keputusan pengadilan (yang lugu), berarti pegadilan itu tidak melakukan perpindahan sistem pengujian sekaligus tidak mendapatkan objek yang seharusnya ditemukan. hal itu menimbulkan pertanyaan kepada nestle bagaimana hal tersebut dapat terjadi kecuali jika keputusan pengadilan banding secara efektif mengubah tes tersebut. sebagai tambahan, tes tersebut sebagaimana dinyatakan dalam praktik dan hukum di illionis, sama sekali tidak ada kesempatan bagi nestle untuk menetapkan goodwin. meskipun tidak secara tersurat, ternyata keputusan pengadilan banding secara efektif telah melakukan tes yang sama baik mengenai tuntutan pelanggaran hukum dan strict product liability dalam kasus makana sebagaimana dimintakan oleh nestle. tes itu adalah perkiraan konsumen yang masuk akal mengenai campuran yang ada dalam produk makanan tersebut tetapi nestle mengajukan argumentasi yang tidak logis, yakni peradilan banding tidak dapat melakukan hal tersebut. oleh karena itu, argumentasi semacam itu sia-sia bagi nestle. akhirnya, pengadilan banding memberi jawaban jika kecelakaan atau kerugian disebabkan oleh keberadaan zat asing di dalam suatu makanan, pabrikan tunduk pada ketentuan strict liability. sebaliknya, pabrik atau pembuat mungkin hanya bertanggung jawab jika keberadaan zat tersebut diakibatkan kelalaian/kecerobohan. nestle gagal menjawab opini pengadilan banding yang mengadopsi tes reasonable expectation sebagai cara yang mengaktifkan kedua tuntutan mengenai pelanggaran hukum dan strict liability dalam kasus makanan. keputusan pengadilan banding emperlakukan pabrik nestle secara berbeda daripada pabrik produk lainnya. inti argumentasi nestle atas banding, yaitu harus mengadopsi doktrin tersebut sesuai cara lousiana. jika kecelakaan disebabkan oleh zat asing dalam suatu produk makanan, pabrik tunduk pada ketentuan strict liability. sebaliknya, jika zat yang menyebabkan kecelakaan terjadi secara alami pada produk atau campurannya, pabrik mungkin hanya bertanggung jawab pada keberadaan zat yang diakibatkan dari kesalahan dalam pembuatan produk. journal the winners, vol. 3 no. 1, maret 2002: 11-18 16 nestle harus mengadopsi hal tersebut untuk menggunakan tes perkiraan masuk akal (reasonable expectation). sependapat dengan jackson termohon banding), cara lousiana terlalu teliti untuk menggagalkan dan menghilangkan doktrin mengenai caveal emplor (surat protes yang tidak ada isinya). terlebih lagi, hal itu berlawanan atas tuntutan nestle dalam argumentasinya untuk mengadopsi pendekatan lousiana. keputusan pengadilan banding dalam kasus yang sedang terjadi bukan merupakan kejadian pertama untuk diberlakukan pada saat ini. secara strict liability, keinginan nestle melakukan pembuktian tidak dapat disetujui sebagaimana yang dilakukan di louisiana. hal itu bertentangan dengan argumen dari nestle bahwa strict liability lebih efektif. menurut hakim, seharusnya perusahaan dapat mengambil langkah sederhana dan relatif tidak mahal agar produk mereka menjadi aman. secara khusus, mereka dapat menempatkan suatu peringatan yang memadai kepada konsumen mengenai kandungan yang ada pada produknya. hal itu lebih mudah daripada mencegah pabrikan induk produk tersebut tunduk pada strict liability. dalam hal ini, katydids patut diklasifikasikan sebagai produk yang tidak dapat terhindar dari ketidakamanan. dengan menunjuk pada ketentuan strict liability, terlihat bahwa tidak adanya pengaturan yang menyatakan risiko yang tidak dapat dihindari. dengan demikian, alasan tersebut menguatkan putusan pengadilan banding. dengan tes reasonable expectation, secara otomatis doktrin foreign natural pun sudah dilakukan. hal itu terjadi karena kulit buah kenari tidak boleh masuk ke dalam adonan menurut ketentuan yang berlaku. kejadian itu merupakan kecerobohan dan bukan suatu hal yang bersifat natural. hakim heiple menolak doktrin foreign natural dalam pernyataannya, ia menyatakan bahwa penjual makanan menurut doktrin foreign natural tidak bertanggung jawab atas kecelakaan karena masuknya zat asing yang tidak dikeluarkan tetapi tercampur secara alami ke dalam campuran misalnya kulit biji-bijian, bji buahbuahan, tulang ikan, dan sebagainya. penjual makanan hanya bertanggung jawab pada objek asing yang masuk ke dalam campuran makanan seperti pecahan gelas atau kepingan logam. bila menggunakan tes reasonable expectation, penjual produk makanan bertanggung jawab atas kerugian yang disebabkan oleh unsur makanan yang ada dalam makanan. apakah unsur tersebut termasuk unsur alami atau zat asing yang mungkin dapat ditemukan oleh konsumen. tes reasonable expectation memberikan bantuan pada doktrin foreign natural. secara nalar, tidak ada tanggung jawab bila kulit biji kenari itu ditemukan. lebih jauh lagi, keputusan pengadilan mengakibatkan kurangnya kepercayaan pada produk nestle yang lain. di samping itu, memberi tanggung jawab yang sama kepada penjual makanan lainnya. ketentuan pengaturan mengenai perlindungan konsumen dan tanggung jawab industri pangan 1. uu no. 7 tahun 1996 tentang pangan dalam uu ini, ketentuan yang mengatur perlindungan konsumen dan tanggung jawab industri pangan diatur dalam pasal 20, 21, 41, dan 51. dalam ketentuan tersebut, telah diatur bahwa setiap orang yang memproduksi pangan untuk diperdagangkan wajib menyelenggarakan sistem jaminan mutu sesuai dengan jenis pangan yang diproduksi. setiap orang dilarang mengedarkan pangan yang mengandung bahan beracun, berbahaya, atau yang dapat merugikan jiwa manusia. keterbukaan informasi mengenai perlindungan konsumen… (sri hutomo) 17 badan usaha yang memproduksi pangan olahan untuk diedarkan bertanggung jawab terhadap jalannya usaha tersebut, keamanan pangan yang diproduksinya, dan kesehatan orang lain yang mengonsumsi pangan tersebut. bila seseorang atau ahli warisnya meninggal karena mengonsumsi pangan olahan yang diedarkan, berhak mengajukan gugatan ganti rugi terhadap badan usaha atau orang per seorangan dalam badan usaha tersebut. di samping itu, masyarakat diberi kewenangan oleh uu tersebut untuk berperan seluas-luasnya dalam mewujudkan perlindungan bagi orang per seorangan yang mengonsumsi pangan sesuai uu pangan dan peraturan lain yang berlaku. 2. uu no. 8 tahun 1999 tentang perlindungan konsumen dalam uu ini, ketentuan yang mengatur perlindungan konsumen dan tanggung jawab industri pangan diatur dalam pasal 4, 7, 8, 19, 45, dan 46. dalam ketentuan tersebut, konsumen mempunyai hak atas kenyamanan, keamanan, dan keselamatan dalam mengonsumsi barang dan jasa. untuk itu, pelaku usaha wajib menjamin mutu barang atau jasa yang diproduksi dan diperdagangkan berdasarkan ketentuan standar mutu barang dan jasa yang berlaku dan wajib memberi kompensasi, ganti rugi atau penggantian atas kerugian akibat penggunaan, pemakaian, dan pemanfaatan barang serta jasa yang diperdagangkan di bawah standar mutu. oleh karena itu, pelaku usaha dilarang memproduksi atau memperdagangkan barang dan jasa yang tidak sesuai dengan janji yang dinyatakan dalam label, etiket, keterangan, iklan atau promosi. selain itu, pelaku usaha bertanggung jawab memberikan ganti rugi atas kerusakan, pencemaran, dan kerugian konsumen akibat mengonsumsi barang dan jasa yang dihasilkan atau diperdagangkan. setiap konsumen yang dirugikan dapat menggugat pelaku usaha melalui lembaga yang bertugas menyelesaikan sengketa antara konsumen dan pelaku usaha atau melalui peradilan yang berada di lingkungan peradilan umum. gugatan tersebut dapat dilakukan oleh pihak berikut. a. seorang konsumen yang dirugikan atau ahli waris yang bersangkutan. b. sekelompok konsumen yang mempunyai kepentingan yang sama. c. lembaga perlindungan konsumen swadaya masyarakat yang memenuhi syarat seperti badan hukum atau yayasan. anggaran dasar lembaga itu harus menyebutkan dengan tegas bahwa tujuan didirikannya organisasi tersebut untuk kepentingan perlindungan konsumen dan telah melaksanakan kegiatan sesuai dengan anggaran dasarnya. d. pemerintah dan instansi terkait bila barang atau jasa yang dikonsumsi mengakibatkan kerugian materi yang besar atau korban yang tidak sedikit. 3. uu no. 8 tahun 1995 tentang pasar modal uu ini belum mengatur kewajiban perusahaan publik atau emiten dalam meyampaikan keterbukaan atas informasi yang memiliki firm specific seperti perlindungan lingkuan hidup, tenaga kerja, dan konsumen. padahal, kewajiban menyampaikan fakta material yang meliputi informasi mengenai keterbukaan tentang perlindungan lingkungan, hak perlindungan tenaga kerja, dan perlindungan konsumen merupakan unsur penting sebagai dasar pertimbangan seorang investor nasional untuk berinvestasi atau tidak. journal the winners, vol. 3 no. 1, maret 2002: 11-18 18 menurut uu no. 8 tahun 1995, kewajiban memberikan informasi masih terbatas cakupannya. hal itu terjadi karena informasi atau fakta material hanya berupa informasi atau fakta penting dan relevan mengenai peristiwa, kejadian, atau fakta yang dapat mempengaruhi harga efek pada bursa efek dan keputusan pemodal, calon pemodal, atau pihak lain yang berkepentingan atas informasi tersebut. bahkan menurut uu itu pula, pengertian prinsip keterbukaan adalah pedoman umum yang memasyarakatkan emiten, perusahaan publik, dan pihak lain yang tunduk pada uu no. 8 tahun 1995 untuk menginformasikan kepada masyarakat dalam waktu yang tepat seluruh informasi material mengenai usaha atau efek yang berpengaruh terhadap keputusan pemodal. pihak yang bertanggung jawab atas informasi yang tidak benar atau menyesatkan adalah yang menandatangani pernyataan pendaftaran, direktur dan komisaris emiten pada waktu pernyataan pendaftaran, serta penjamin pelaksana emisi efek. di lain pihak, profesi penunjang pasar modal atau pihak lain yang memberikan pendapat atau keterangan dan atas persetujuannya dimuat dalam pernyataan pendaftaran, hanya bertanggung jawab atas pendapat atau keterangan yang diberikannya. penutup simpulan uu tentang pasar modal belum mengatur keterbukaan informasi yang memiliki firm specific seperti perlindungan lingkungan hidup, ketenagakerjaan, dan perlindungan konsumen. saat ini, informasi tersebut sangat penting artinya bagi calon investor untuk menentukan sikap dalam berinvestasi. di lain pihak, telah ada uu ketenagakerjaan, lingkungan hidup, maupun perlindungan konsumen. pelanggaran terhadap uu tersebut dapat diancam sanksi perdata maupun pidana yang berakibat naik turunnya citra perusahaan. bahkan, mungkin juga berakibat bangkrutnya perusahaan yang dapat mempengaruhi harga saham maupun pasar modal. daftar pustaka nasution, bismar. 2001. “pentingnya keterbukaan untuk pengelolaan perusahaan yang baik dalam undang-undang pasar modal.” jurnal hukum bisnis yayasan pengembangan hukum bisnis. vol. 14. jakarta. putusan mahkamah agung illinois nomor 71794. tanggal 12 maret 1992. undang-undang nomor 8 tahun 1995 tentang pasar modal. undang-undang nomor 7 tahun 1996 tentang pangan. undang-undang nomor 8 tahun 1999 tentang perlindungan konsumen. microsoft word 01_yulius_heavy reliance.doc heavy reliance on the indirect financing… (yulius) 93 heavy reliance on the indirect financing as sources of funds for business firms in japan: as a comparison for indonesian financial crisis yulius1 abstract the purpose of this article is to study the implication of financial liberalization to the heavy reliance of firms to the indirect finance in japanese experience. in order to analyze the goal of this article, we start to examine the causes of the main bank system in japan before and the prewar period. then, this article discusses the impacts of financial liberalization to the to the heavy reliance on the indirect-financing for business firms in the light with japan’s financial market, particularly the main bank system. finally, this article also discusses the implication of loose relationship of big firms and major banks (main bank system) to the recent financial condition in starting from the early of 1990s until now. this article discovered that financial liberalization, which started at the latter half of 1970s, has shaken the foundation of the main bank system. the major firms started to less dependent on the major banks and they issued the securities in domestic and international market. as a consequence, the smbs still depend on the banks as their source of indirect financing. however, the competitiveness in the smbs market turned to erode the bank profits that induced them to enter the risk activities, such as real estate. in addition, the bubble burst economy also triggered the boom in real estate. naturally, as a nature of risk asset, loan to the real estate became the potential of bad loans that also was exacerbated the bubble burst in economy. then, the financial crisis has revealed in 1990s. keywords: finance, funds, japan, business, firm, indonesia abstrak tujuan penulisan untuk mempelajari implikasi liberalisasi finansial terhadap kepercayaan firma yang dialami jepang. langkah yang dilakukan adalah meneliti penyebab, imlikasi, dan efek yang ditimbulkan oleh liberilasasi finansial tersebut. dapat disimpulkan bahwa setelah terjadinya liberalisasi finansial tahun 1970 di jepang banyak perusahaan di jepang yang melapaskan ketergantungannya pada bank dan beralih pada pasar saham nasional dan internasional. akibatnya, bank tergantung seperti usaha pada real estate yang pada awalnya merupakan usaha yang baik karena adanya booming real estate. namun sejak tahun 1990 usaha real estate runtuh karena adanya krisis keuangan. untuk mengatasinya bank tersebut bisnis untuk menghapuskan piutang, optimalisasi biaya ops, restrukturisasi bisnisnya, mengalihkan usaha ke obligasi bahkan masuk ke sistem penyehatan perbankan yang dikeluarkan oleh pemerintah. kata kunci: finansial, dana, jepang, bisnis, firma, indonesia 1 staf pengajar unika atma jaya, stie kalbe & ubinus, jakarta journal the winners, vol. 2 no. 2, september 2001: 93-106 94 introduction japanese firms relied heavily on bank borrowings (indirect financing) during periods of rapid economic growth from the early 1950s to the early 1970s. the largest provider of bank loans (indirect finance) to a firm is usually identified as the firm's main bank. a main bank and its clients are typically linked in several ways. the main bank provides cash management and other financial services for the firm is often a major shareholder. the main bank sometimes sends its employees to serve as directors of the firms. the main bank is expected to be responsible for monitoring the firms and if the firms get into trouble, the main bank often intervene in the firm's management and tries to rescue it. this set of ties between banks and firms is called the main bank system (detail explanation about the main bank system can be seen in aoki and patrick (1994)). after the collapse of the bretton woods agreement in 1971 (or 1973), the liberalization of both domestic and international financial started in the mid 1970s among industrial countries. the liberalization of financial market in japan started in the latter half of 1970s like many other industrial countries. therefore, it had an implication to the change of the japanese financial market structures (the first oil shock in 1973 and foreign exchange law of 1980s also influenced the changing of japan financial market. as a result lack of government deficit, the government issued a large scaleof deficit financing bonds. the foreign exchange law integrated the domestic japanese financial market to international market (see suzuki, 1987 and feldman, ra, 1986)). as a consequence, since the 1980’s, we have seen a lot of changing in japanese financial market. firms’ demand for investment funds and levels of internal funds have emerged in wide variation. firms have developed and issued a sophisticated treasury functions. firms have turned from bank borrowings to issuance of market securities (often through overseas market) in dramatic shift (suzuki y, 1987). therefore, the financial liberalization has changed the behavior of relationship among banks and firms. the main bank system has been shaken by financial liberalization. the big firms become less dependent on banks for their financing needs and move to securities market as their source of finances. on the other hands, small and medium business size (smbs) firms still continued to depend on the banks as their source of finance since the japanese securities markets had not been able to accommodate them with the stringent eligibility requirements for corporate bonds. thus, smbs became important market for banks, especially for small regional banks and cooperative credit banks. in accordance with the loose relationship with big firms, the city banks and other major banks started to enter in smbs market in the early 1980s. therefore, the more banks in the limited market gave an impact to the high level of competition for banks to get the borrowers. in addition, liberalization on deposit interest rate started in 1985 also imposed the competition on the market (horiuchi, 1996). the competition imposed the erosion of banks’ profit. therefore, the commercial banks started to involve in excessive lending to risk taking activities, such as real estate, since in the middle 1980s in order to maintain their profit. in addition, the bubble economy, which started in 1987, also triggered the boom in real estate activities, which gave the incentive to the banks to give huge loans to the real estate activities. then, excessive loans to the risky activities such as real estate influenced the potential bad loans that had created severe problems in japan’s banks in 1990s (kitagawa, h and y. kurosawa, 1994). heavy reliance on the indirect financing… (yulius) 95 the purpose of this article is to study the implication of financial liberalization to the heavy reliance of firms to the indirect finance in japanese experience. therefore, the question will be addressed in this term article is what is the implication of financial liberalization to the main bank system the rest of this article will answer this question. section 2 will discuss an examination the causes of the main bank system in japan before and the pre-war period. section 3 will discuss the impacts of financial liberalization to the heavy reliance on the indirect-financing for business firms in the light with japan’s financial market, particularly the main bank system. section 4 discusses the implication of loose relationship of big firms and major banks (main bank system) to the recent financial condition in 1990s. section 5 contains a brief conclusion of this article. the evolution of the main bank system in order to evaluate the heavy reliance on the indirect financing as source of funds for business firms, this article starts to discuss the evolution of the main bank system in japan. next, major changes in corporate financing during the fifteen years of war period led the creation of the prototype of the main bank system will be also discussed. finally is to study how the banks acquired the monitoring capability during the heyday of main bank system. i. pre war in the pre-war, the direct financing was the dominant of external financing for the firms. the dominance of financing through equities and bonds rather bank borrowing is more clearly observed for the zaibatsu firm. table 1 shows the proportion of major capital and liability items for a sample of mitsui firm. the proportion of paid-in capital in total assets was higher for all the firms and borrowings from banks were not important for many firms. for example, the source of fund for mitsui & co was based on of 68.1 % paid in capital/total assets and was only 6.1% of borrowings from banks/total assets in 1920. table 1 paid in capital and borrowings from banks for mitsui zaibatsu in 1920 company paid-in capital/ borrowings total asset from banks/ (%) total assets (%) mitsui & co 68.1 6.1 mitsui mining 66.7 0 hokkaido tanko kisen 54.8 3.1 shibaura seisakunso 39 5.3 nihon seiko-sho 41.7 1.2 oji article 46.2 11.1 journal the winners, vol. 2 no. 2, september 2001: 93-106 96 table 1 paid in capital and borrowings from banks for mitsui zaibatsu in 1920 (continued) dai nihon celluloid 70 4.6 kanefuchi boseki 21 0 denki kagaku kogyo 46.9 0 onoda cement 48.2 8.8 source: ito. t (1992) meanwhile, in case of mitsubishi companies, as described by ito (1992), the financing of mitsubishi companies in 1930s were raised by selling shares to affiliates. in this case, funds from the parent companies in the form of paid-in capital were most important for them. one of the reason why the banks borrowing were not an important sources of funds for many firms were a large number of small banks, and they frequently failed. teranishi (1994) discussed that there were 1521 banks in 1904 but only 63 of them had equity larger than 1 million yen. in contrast, many of the remaining 1458 banks were very small: 390 banks had equity of less than 100.000 yen, another 528 had equity of between 100,000 yen and 300,000 yen. moreover, 25 banks per year failed during the period 1902-1919, and 44 banks per year during the period 19201932 (teranishi, 1994). instead, at in the prewar period, the shareholders had tight controls on japanese companies and monitored managers closely. the fraction of equity owned by the largest shareholders was often high. the dividends of payout ratios were generally high. managers typically were rewarded with bonus payments that were closely tied to profits. shareholders were actively involved in management. many large shareholders of non-zaibatsu firms sat on the board and directly monitored the firms. one example is the monitoring mechanism at the sumitomo zaibatsu, which was ruled by the sumitomo house accounting rule. according this rule, each sumitomo company was required to submit its budget estimates and actual expenses to sumitomo & co (honsha) and obliged to explain any discrepancies between the two reports. thus the honsha was positioned to receive both the ex ante plans and ex post analyses of their members’ activities. monitoring of capital investment was especially strict. a sumitomo firm had to submit a detailed report with included the estimated date and completion and expenditure for each year to sumitomo & co. moreover, when there was a change in any part of the projects, the firms had to consult the honsha. ii. wartime the wartime was the origin of the main bank system. as discussed, a lot of banks were insolvent in the period of prewar. therefore, in order to play an important role as indirect finance for the firms, the banks must be financially solvent. moreover, it seems to be important to have relatively small number banks, because such a co-operative delegation mechanism would be difficult to implement with a large number of participants. this situation occurred in the period of wartime called main bank system. therefore, the wartime was identified as the origin of the main bank system (aoki, et all, 1994). the concentration of the banking sector, which took place during the inter-war and during the war, produced a small number of large banks. figure 2.1 shows the number of banks in japan heavy reliance on the indirect financing… (yulius) 97 between 1901 and 1945. there were 1890 banks in japan at the end of 1901, but only 61 by the end of 1945. there are two episodes of larger negative growth rate of banking industry, first was in the late 1920s and second was in 1940’s. the concentration during the 1920’s had been influenced by several causes. first, financial crises in 1920, 1922, and 1927 forced smaller and weaker banks to go bankrupt or to be acquired by larger banks. second, government policies (the banking law in january 1928) also encouraged mergers. that law stipulated a minimum amount of required capital, and pressured those banks which did not satisfy the requirement to merge before 1932. third, the concentration during 1940s was mainly due to wartime financial controls, which aimed to allocate funds preferentially to war, related industries. soon after japan initiated war with china in july 1937, the temporary funds adjustment law was promulgated and a series of wartime financial controls was started. this law sought to control long-term funds, and preferentially allocate funds for warrelated industries. finally, the ministry of finance (mof) and the bank of japan (boj) often directly proposed mergers between banks in the name of efficiency. the mof declared the goal of ‘one prefecture-one bank’ in may 1936, and aggressively advocated mergers between regional banks (aoki, et all, 1994). the concentration of the banking industry through the competition and aggressive government policies advocating mergers created a small number of larger banks, and laid some of the ground work for the main bank system. table 2 shows sources of industrial funds for the period 1934 1944. this table shows clearly the increasing dependence on bank borrowing. the source of industrial funds from internal fund decreased from 54.8 % in 1934 to 24.2% in 1944. on the contrary, the bank loans as one of the sources of industrial funds increased from –11.4 in 1934 to 57% in 1944. table 2 source of industrial funds (%) year internal funds new shares new bonds bank loans 1934 54.8 55.4 2.8 -11.4 1935 51.6 32.9 1 14.9 1936 47.4 33.5 -2.3 18.3 1937 33.3 35.5 -0.1 31.9 1938 30.5 34.6 5.4 29.9 1939 27.1 24.5 7.9 38.4 1940 30.4 26.7 5.5 38.3 1941 33.6 29.1 10.1 28.1 1942 31.3 25.7 8.9 32.8 1943 30.3 22.6 7.8 35.8 1944 24.2 9.1 8.3 57.8 source: ito, t (1992) the major causes of this change in corporate financing was heavy industrialization accelerated by the war effort. during the inter-war period, capital-intensive heavy industries grew much more rapidly than light industries, and the war effort reinforced this tendency. table 3 shows journal the winners, vol. 2 no. 2, september 2001: 93-106 98 the share of output coming from the steel/metals and machinery industries increased from 27 percent in 1934 to 49 percent in 1942, while the fraction of production in the food and textiles industries declined from 42 percent in 1934 to 19 percent in 1942. table 3 shares of manufacturing output 1924-42, private companies with more than five employees, percent industry 1924 1929 1934 1939 1942 steel & metals 5.7 8.9 15.6 21.6 20.1 machinery 6.7 8.8 11.5 20 28.7 chemicals 11 14 16.1 18.4 17.2 textiles 44.2 38.8 31.1 17.9 11.1 food 16.3 14.6 11.1 9.3 7.6 source: aoki and patrick (1994) the final important change to corporate finance during this period was the shift in corporate governance practice. naturally, the firms started to depend on more external funds, especially bank loans. as a result, the relative power of shareholders declined somewhat. in addition, there were also regulatory changes that further limited the power of shareholders. the 1936 corporate profit distribution and fund raising order required firms with a dividend payout ratio of more than 10 percent to seek approval from the mof. this rule severely restricted shareholders’ rights to residual income. therefore, this restriction on shareholder’s property right must have reduced their incentive to influence and control management (teranishi, 1994). iii. postwar as the war ended, japan inherited a financial system with large banks and close bankfirm relations. although this inheritance from the war economy was a major reason why the bank system emerged after the war, it was not the only one. the decline of shareholders’ power during the war created a serious void in corporate governance: no one had the incentive or ability to monitor the managers of munitions companies. the absence of monitoring that characterized wartime financing had to be corrected, and the banks had to gain the power and the ability to monitor companies before the main bank system fully developed. in this period, especially in the period of heyday of the main bank system (19511975), the main bank’s role in corporate financing and monitor was prominent and pervasive. around 1951, marked the end of the post-war reconstruction period, particularly as it applied to establishing the architecture of the financial system, and the take-off the economy’s high growth and escalating corporate investment demand. in the late 1949, the boj mediated the formation of loan consortia by city banks and involved itself in active ex ante monitoring of borrowing firms. in 1951, the anti-monopoly act was revised and the ceiling on bank equity holding in non-financial firms was lifted from 5 percent to 10 percent. also in 1951, the japan development bank was founded as a government-owned development bank specializing in the provision of long-term investment financing, together with the industrial bank of japan. heavy reliance on the indirect financing… (yulius) 99 in this period (1951-1975), a stable system existed in which banks and other financial institutions mobilized and allocated savings in a high-growth economy regulated by control over loan, deposit, and bond issue interest rates. finance was mildly repressed. the demand for funds were in excess of supply because the market did not fully clear at the regulated rates and some credit rationing occurred, but real interest rates were positive. the new entry to the banking industry was prohibited, creation of new financial instruments restricted, and markets and financial institution activities segmented. funds were, in practice, preferentially allocated among large business borrowers. table 4 presents the share of equity, bonds, and bank borrowings in the external financing firms with more than 1 billion in equity and stock exchanges. this table shows clearly that the percentage of bank borrowing as the source of corporate finance were high in the period 1957 to 1974 with the average around 70 percent. on the contrary, the trend of share equity and bonds decreased from the period 1957 1959 to the period of 1985 1988. table 4 distribution of sources of external corporate finance (%) year equity bonds loans 1957-1959 20.5 11.1 68.3 1960 1964 21.2 13.6 65.2 1965 1969 8 12.1 79.9 1970 1974 6.4 10.3 83.3 1975 1979 19.6 25.3 55.1 1980 1984 30 25.1 45 1985 1988 38.6 51.4 10 source: aoki and patrick (1984) discussion the implication of financial liberalization to the main bank system in order to know the impacts of heavy reliance on the indirect financing as sources of funds for business firms, the role of financial liberalization in the main banks system will be evaluated. after the financial liberalization, the foundation of the main bank system had been shaken. the banks moved their market to small and medium business size (smbs) firms. causes and effects of financial liberalization during the growth era, japanese financial transactions remained in small scale. the closed and controlled systems were maintained. although some events, like liberalization of international trade and foreign exchange rate in 1960s, and being the oecd member, exposed the japan’s economy to international surroundings. japan only allowed the foreign investors in the journal the winners, vol. 2 no. 2, september 2001: 93-106 100 financial sector in limited access. so, highly regulation and largely isolation from international financial transactions were for more than three decades after the world war two (iwami t, 1995). after the collapse of the bretton words agreement in 1971 (or 1973), the liberalization of both domestic and international financial transactions started in the mid 1970s among industrial countries. this globalization was partly motivated by the need to control increasing inflation and partly by the need to enhance capital flow across countries (ito, t, 1992). the liberalization of financial market in japan started in the latter half of 1970s like many other industrial countries. therefore, it had an implication to the change of the japan financial market structures (frankel, a.b and p.b. morgan, 1992). in addition, the first oil shock in 1973 also influenced the changing of japan financial market. as a result lack of government deficit, the government issued a largescale of deficit-financing bonds and tremendous expansions of the government occurred. furthermore, the foreign exchange law of 1980 changed the japan financial market with the increase of internationalization of real economy and high activity of cross-border fund flows. therefore, this law integrated the domestic japan financial market to international market (feldman, ra 1986). there are three points that should be as reflection to the effects of financial liberalization in the new era of the japanese financial markets (suzuki, y 1987). first, the financial liberalization continued to weaken interest rate controls. the expansion of the large flotation of the government bonds expanded at extremely rapid pace that was spurred by japanese bank regulations concerning the sales of government bonds in 1977. the expansion of the government bonds enhanced free interest rate in the open market as long-term instruments, short-term open market and relaxation or abolition interest controls. second, the gensaki market (a gensaki transaction is one in which there is a prior promise either to repurchase or to resell the same security as originally transacted after a fixed time and at a fixed price. its market is free, open financial market in which any company may participate. the actual participants include securities companies, financial institutions, corporate entities, public financial institutions, and non-residents, such as foreign investors) which had existed on a small scale since 1950, also has expanded along with the growth of the government bond market in the secondary market since big firms became more sensitive to free interest rate. part of the reaction of the gensaki market, certificates of deposits (cds) were established in may 1979 (the first cds were issued in may 1979, and differ from regular deposit in that they are short-term deposits with free interest rates that may be sold to third parties). thus, as a result of the foreign exchange law in 1980, yen deposit by non-resident and foreign currency deposits by resident also expanded by the increasing in the cross-border movement of funds. the development of gensaki, cds and cross-border movement contributed not only to the relaxation of interest control but also declining of the japanese bank segmentations. third, the interest rate arbitrage increased rapidly not only in the domestic market but also in the foreign market as a result adaptation of a series of liberalization measures. the interest rate arbitrages expanded and diversified the open markets in both long and short-term assets. heavy reliance on the indirect financing… (yulius) 101 effects of the indirect financing for business firms as a consequence financial liberalization as a consequences of financial liberalization, there were three implications to the japanese banking system. first, firms started to less dependent on the banks as sources of indirect financing. next, as a consequence of financial liberalization, the erosion of bank profits turned the bank to involve the risk activity such as real estate. third, the erosion of bank profits also induced them involving on balance sheet activity. i. the loose relationship of main bank system as we have seen before, major banks maintained close relationship with the big firms in the period of high growth. however, this relationship declined after the financial liberalization. big firms started to issue bonds in domestic market since the-mid 1980s and also to issue corporate bonds in the euro and other foreign markets. thus, big firms became less dependent on banks for their financing needs and moved to securities market as their source of finances. on the other hands, smbs firms still continued to depend on the banks as their source of finance because the japanese securities markets had not been able to accommodate them with the stringent eligibility requirements for corporate bonds. thus, smbs became important market for banks, especially for small regional banks and cooperative credit banks. in accordance with the loose relationship with big firms, the city banks and other major banks also started to enter in smbs market in the early 1980s (see table 5) the long-term relationship between major banks and firms seems to be have mitigated in the process of this structural change in corporate finance. according table 5, the major banks’ loans to keiretsu firms had been loosing their relative importance. the percentage of loans to keiretsu firms to total amount of loans drastically decreased from 15.5% in 1965 to only 3% in 1990. this suggests that major banks had been forced to extend their credit outside of their intimate territories constructed by the “main bank relationship” during the high growth. table 5 relative importance of major bank loans to their keiretsu firms (billion yen) year total amount loans to b/a of loans keiretsu (%) firms (a) (b) 1965 9,783 1,515 15.5 1970 18,725 2,182 11.7 1975 52,877 5,450 10.3 1980 75,436 6,040 8 1985 160,798 7,756 4.8 1990 308,504 9,364 3 source: horiuchi (1996) journal the winners, vol. 2 no. 2, september 2001: 93-106 102 table 6 shows the increasing of bank loans to the smbs market from 1991 to 1992, as the bank-intermediated financial needs of leading industrial companies declined. city, trust and long term banks all sought to increase loans to smbs market. table 6 loans to small and medium firms as a % of outstanding loans type of bank 1961 1966 1971 1976 1981 1986 1988 1992 city 26.6 23.7 25.8 29 37.7 44.4 51.2 57.9 long-term 6.1 10.7 16 15 26.9 28.1 35.4 40.1 trust 9.9 7.3 10.1 10.5 22 31.7 40.4 51.2 regional 54.4 53.3 55.5 51.3 55 59.5 62.6 65.3 source: patrick and park (1994) ii. increasing loans to the risky activities as discussed above, there were a lot of banks in the smbs market. therefore, naturally, the more banks in the limited market gave an impact to the high level of competition that, in turn, gradually eroded the bank profitability. in addition, the liberalization of interest deposit became also the sources of the erosion of commercial bank profitability. these are the liberalization of interest rates on deposits started with the introduction of certificates of deposits in 1979, followed by liberalization of interest rates in large time deposits, small time deposits and demand deposits in 1985, and in 1990s (takatsuki, a, 1998) (the succession of regulatory reforms that followed the authorization of cds in 1979 caused the interest costs of banks to become increasingly sensitive to movements in the market interest rates. one change that was especially important in this process was the introduction of money market certificates (mmc) in 1985, with interest rates linked by formula to open market rates on designed instruments. as a result of their increased reliance on market rate funding during the period of sharply rising short term interest rates, the banks’ pre tax profit declined sharply. in response the banks adjusted their methods of determining their prime rates for short and long term loans (in 1989 and 1991 respectively)). as many banks entered in the market together with interest rate liberalization reduced the commercial bank profitability. therefore, in order to maintain their profit, the commercial banks started to involve in excessive lending to risk taking activities, such as real estate, since in the middle 1980s. consequently, bank competed vigorously for loans. this led to an enormous increase in real estate sectors in the 1980s, as can be seen in table 7. credit analysis was relatively easy for these loans because it essentially amounted to forecasting future land and equity prices (the role of comprehensive safety net was also the source why the banks were very easy to give loans to the risky assets (see horiuchi, 1996, 1998)). in addition, the bubble economy, which started in 1987, also triggered the boom in real estate activities, which gave the incentive to the banks to give huge loans to the real estate activities. heavy reliance on the indirect financing… (yulius) 103 table 7 share of loans to real estate for financial industries type of banks 1980 1991 city 8.1 18.9 regional 6.9 15.9 trust 17.5 40.5 long-term 16.7 37.1 source: aoki and patrick (1994) iii. off balance sheet and fee-based activities in the early 1980’s off balance sheet activities started to increase in the early 1980s as banks looked for ways to offset decreases in profits from lending activities. the bis regulation of the risk-asset ratio also encouraged banks with foreign business to increase such activities. thus fees from foreign branches and subsidiaries started to climb in 1982, representing guarantees for bonds issued by local governments in the united states, currency and interest swap, merger and acquisitions advice, leveraged buyouts, option, and future. main banks, especially the top five city banks (top six since the creation of sakura bank) have aggressively increased their fee-based services domestically as well. these include the handling of cash balances and the settlement of promissory notes. compared to the united states, fees traditionally have been very high in japan. the implication to the recent financial market as mentioned above, the banks entered their business to the risk assets, such as real estate. this situation was triggered by inflation of asset price (bubble economy) in accordance of boom in real estate that could be the potential of bad loan, which revealed in 1900s. i. inflation of asset price as discussed, the increasing of asset price also triggered the boom in real estate activities. in connection with the plaza accord 1985, the japanese government agreed to stipulate its economy in order to enhance domestic demand for u.s. products (miller 1998). therefore, the boj reduced the official discount rate starting from january 1986. the decrease of interest rate was followed with the increase of asset price, such as stock price and real estate. the relation between property and stock market was very closed. the increasing of property prices stimulated the collateral value of individual assets that influenced to buy securities in the stock market. at the same time, the increase in securities demand could be used as collateral for loans to property market. in addition, big firms and banks also extended their portfolio to either securities or property market that was also a result of financial liberalization. some firms went to these markets not to invest in plant or equipment rather to obtain cash for future needs. other firms began to enter these markets in speculating rather that in concentrating their core business. journal the winners, vol. 2 no. 2, september 2001: 93-106 104 at the same time, the japanese banks also got a lot of profit from the bubble in stock market. the japanese banks issued equities and convertible bonds as source of their finance. thus, in stock price bubble, the japanese banks could increase their hidden reserve. in addition, in order to follow the bank for international settlements (bis) agreement, the japan’s banks could count 45 % of unrealized appreciation in the japanese bank portfolio of equity securities as tier ii capital for purposes of the risk-based capital rules. so, the japanese banks could satisfy the bis rules while the asset bubble occurred. table 4.1 shows that the city banks increased their stock holdings during in the period of bubble economy (1987 1989). the increase of bank stock holdings turned the increased their hidden reserve that banks are not required to show unrealized capital gain on their balance sheets. table 8 city bank domestic stockholdings year at cost as % of annual (billion yen) total assets increase (%) 1955 35 1.1 n.a 1960 151 1.9 34 1965 389 2.1 20.8 1970 899 2.4 18.2 1975 1,992 2.5 17.5 1980 3,676 3 13 1983 5,207 3.3 12.3 1986 7,228 3.8 11.6 1987 8,761 3.5 21.2 1988 11,412 4 30.3 1989 15,062 4.6 32 1990 18,596 5.3 23.5 1991 20,207 5.8 8.7 source: patrick and park (1994) ii. financial difficulties in 1990’s at the end of may 1989, in order to go against the asset price bubble, the boj tightened monetary policy by raising official discount rate. the increase of interest rate also influenced the decrease of asset price. therefore, the collapse of the asset prices influenced two hard implications to bank behavior. first, the borrowers (firms) got difficulties in relating to their loans. as a consequence the erosion of their earnings brought the banks suffer the bad loans. some borrowers delayed repayment of principal and interest. these have been compounded by the falling collateral value of real estate due to the collapse of the bubble economy, therefore loan obligations to the financial institutions turns into bad loans (economic planning agency, 1994) (the previous section has discussed that commercial banks could hide the bad loans by their profitability and hidden reserve before the bubble burst). second, the japanese banks, which had extended large amounts of real estate financing or speculate in the share market boom, became the hardest hit by the collapse of bubble economy. heavy reliance on the indirect financing… (yulius) 105 the substantial decreasing of their hidden reserve was the main reason of the declining of the japanese capital base due to the plunge of asset prices. the plunge of stock market wiped out the unrealized gain of the japanese banks from securities portfolios as tools for satisfying with the bis capital adequacy guidelines. those factors, difficulties of borrowers to repay their loans, the decrease of collateral value, the squeezing bank hidden reserves, damaged the banks’ balance sheet that in turn brought the banks into the systemic financial crisis. therefore, since the late 1980’s japan has suffered several difficulties in its banking sector. some banks went bankrupt or at the brink at the bankruptcy. others have been nationalized. other banks have suffered the bad loan problems. conclusion generally, this article discovered that financial liberalization, which started at the latter half of 1970’s, has shaken the foundation of the main bank system (it must be understood that financial liberalization itself is not a problem but the problem is how it si implemented). the major firms started to less dependent on the major banks and they issued the securities in domestic and international market. as a consequence, the smbs still depend on the banks as their source of indirect financing. however, the competitiveness in the smbs market turned to erode the bank profits that induced them to enter the risk activities, such as real estate. in addition, the bubble burst economy also triggered the boom in real estate. naturally, as a nature of risk asset, loan to the real estate became the potential of bad loans that also was exacerbated the bubble burst in economy. then, the financial crisis has revealed in 1990’s. the banks themselves and the government have tried to overcome japan’s financial crises. some banks disposed and wrote-off their bad loans. others cut their operating cost. some other banks changed their business mix by curtailing their lending activities to construction companies and some banks went into the bond business. in addition, the government intervened by undertaking some efforts to help bank to overcome their problems, using monetary policy, implementing financial safety net, building the dic and implementing capital adequacy regulation. recently, the government has implemented the new regulatory system, management of financial failures, prompt corrective action system, and financial reform the so-called “big bank”. however, although the banks and the government have done a lot of efforts, the sign of recovery in financial structure has not been yet in sight. references aoki, m, h. patrick, and p. sheard. 1994. “the japanese main bank system: an introductory overview.” in m. aoki and h. patrick, eds., the japanese main bank system: its relevance for developing and transforming economies. new york: oxford university press. horiuchi, a. 1996. financial fragility and recent development in the japanese safety net. manuscript. journal the winners, vol. 2 no. 2, september 2001: 93-106 106 _________. 1998. “case studies for crisis: japan.” in ross h. mc leod and ross garnaut, eds., east asia in crisis from being a miracle to needing one. london: routledge. feldman, r.a. 1986. japanese financial market. massachusetts: mit press. frankel, a.b. and p.b. morgan. 1992. “deregulation and competition in japanese banking.” article presented at the conference on bank structure and competition sponsored by the federal reserve bank of chicago. ito, takatoshi. 1992. the japanese economy. mit press. iwami, t. 1995. japan in the international financial system. london: maxmillan press miller, g.p. 1997. the role of a central bank in a bubble economy http://www.goldeagle.com/editorials/ suzuki, y. 1986. money, finance, and macroeconomic performance in japan. london: yale university press. suzuki, y. 1987. the japanese financial system. oxford: clarendon press. takatsuki, a. 1998. lecture note on money and banking in japan. fall term in international university of japan. teranishi, j. 1994. “japan: development and structural change of the financial system.” in h.t. patrick and y.c. park, eds., the financial development of japan, korea, and taiwan: growth, repression, and liberalization. new york: oxford university press. ueda, k. 1994. “institutional and regulatory frameworks for the main bank system” in m. aoki and h. patrick, eds., the japanese main bank system: its relevance for developing and transforming economies, new york: oxford university press. microsoft word 06_adang sudjana_bank syariah.doc journal the winners, vol. 4 no. 1, maret 2003: 46-53 46 bank syariah sebagai alternatif adang sudjana1 abstract the principle of not allowing interest practices (riba) has saved the syariah bank and their customers from the effects of monetary crisis. in view of islamic principles, interest is forbidden. therefore, all transactions of syariah banking are based on sale-purchase pattern. besides, all good banking aspects as applied in conventional banking such as, 5 cs (capital, collateral, capacity, character, and condition) are also applied properly in the line of ukhrawi aspects in managing fund of syariah banking. the practice of “mark-up” in project funded by syariah bank seems to be very difficult. keywords: bank, alternative abstrak prinsip untuk tidak memperbolehkan praktik bunga (riba) telah menyelamatkan bank syariah dan nasabahnya dari efek krisis keuangan. dalam pandangan islam, sistem bunga dilarang. oleh karena itu, seluruh transaksi bank syariah berdasarkan pola sale-purchase. selain itu, aspek 5 c (capital, collateral, capacity, character, and condition) yang diterapkan pada bank umum lainnya, juga diterapkan dalam bank syariah. kata kunci: bank, alternatif 1 staf pengajar universitas budi luhur & ubinus, jakarta bank syariah sebagai alternatif (adang sudjana) 47 pendahuluan krisis ekonomi yang melanda perbankan nasional sejak 1997 dan belum berakhir hingga kini, telah membuktikan bahwa sesungguhnya ada alternatif jenis perbankan lain diluar perbankan konvensional yang selama ini dikenal dengan perbankan syariah. jenis perbankan syariah yang dilandasi oleh hukum islam ternyata telah terbukti mampu terbebas dari multidimensi krisis perbankan nasional yang menimpa perekonomian indonesia. artikel ini hanya bermaksud sebagai “introduction to bank syariah” terutama menyangkut aspek penghimpunan dana, penyaluran dana, atau pembiayaannya (yang merupakan profit centre-nya) dan produk jasanya. pembahasan perbedaan antara perbankan syariah dengan perbankan konvensional perbedaan pokok antara bank konvensional dengan bank syariah sebagai berikut. bank konvensional bank syariah 1.akad yang dilakukan hanya memiliki konsekuensi duniawi. 1.akad yang dilakukan memiliki konsekuensi duniawi dan ukhrawi. 2.tidak ada dewan pengawas syariah dalam struktur organisasinya 2.ada dewan pengawas syariah dalam struktur organisasinya. 3.penghasilan utama berasal dari pendapatan bunga. 3.penghasilan utama berasal dari pendapatan atas dasr bagi hasil (mudharabah). sistem bunga (riba) tidak diperkenankan. 4.semua jenis bisnis dan usaha dapat dibiayai. 4.tidak mungkin membiayai usaha yang mengandung hal-hal yang diharamkan. 5.lingkungan kerja dan budaya perusahaan tidak diatur. 5.lingkungan kerja dan budaya perusahaan harus sesuai dengan prinsip syariah. jenis produk pada bank syariah jenis produk pada bank syariah sebagai berikut. i. produk penghimpunan dana produk penghimpunan dana terdiri dari berikut ini. 1. wadiah wadiah adalah simpanan nasabah yang terdiri dari berikut ini. a. yad al amanah, yaitu simpanan yang tidak sering ditarik atau dipakai, seperti safe deposit box. b. yad dhamanah, yaitu simpanan yang sering ditarik, seperti rekening giro. journal the winners, vol. 4 no. 1, maret 2003: 46-53 48 2. mudharabah mudharabah, yaitu akad kerjasama usaha antara dua pihak. pihak pertama (sahibul maal) menyediakan seluruh (100 %) modal sedangkan pihak lainnya menjadi pengelola. keuntungan usaha secara mudharabah dibagi menurut kesepakatan yang tertuang dalam kontrak sedangkan apabila rugi ditanggung pemilik modal selama bukan akibat kelalaian pengelola tetapi apabila kerugian diakibatkan karena kelalaian atau kecurangan pengelola maka pengelola harus bertanggung jawab atas kerugian. pada sisi penghimpunan dana mudharabah diterapkan pada hal berikut. a. tabungan berjangka, yaitu tabungan yang dimaksudkan untuk tujuan khusus seperti tabungan haji, tabungan qurban, dan sebagainya. b. deposito biasa. c. deposito spesial (special investment), yaitu dana yang dititipkan nasabah khusus untuk bisnis tertentu, misalnya murabahah saja atau ijarah saja. atas tabungan dan deposito di atas, bank syariah akan memberikan 'nisbah kepada nasabahnya dalam persentase tertentu. ii. produk penyaluran dana 1. jual beli a. bai’il murabahah murabahah adalah jual beli barang pada harga asal dengan tambahan keuntungan yang disepakati. dalam murabahah, penjual harus memberitahu harga produk yang ia beli dan menentukan suatu tingkat keuntungan sebagai tambahannya. dalam hal itu, bank bertindak sebagai penjual dan nasabah bertindak sebagai pembeli untuk harga inventory baik produksi maupun konsumsi. pertama-tama bank membeli barang yang dipesan nasabah dari pihak lain kemudian dijual kepada nasabah setelah ditambah keuntungan. nasabah kemudian mencicilnya sesuai harga dan jangka waktu yang disepakati. b. bai’as salam bai’as salam berarti pembelian barang yang diserahkan dikemudian hari sementara pembayaran dilakukan dimuka. bai’as salam biasanya deprgunakan pada pembiayaan bagi petani dengan jangka waktu yang relatif pendek yaitu 2-6 bulan. bank bertindak sebagai pembeli dan nasabah sebagai penjual. bank membayar harga yang disepakati diawali kontrak. ketika barang akan dikirim oleh nasabah bank dapat menjualnya kepada pihak lain dengan harga yang lebih tinggi misalnya kepada bulog, pedagang pasar induk, dan grosir. yang dibeli bank adalah barang, seperti padi, jagung, dan cabai, dan bank tidak berniat untuk menjadikan barang-barang tersebut sebagai simpanan atau inventory. secara umum, aplikasi perbankan bai’as salam dapat digambarkan dalam skema berikut ini. bank syariah sebagai alternatif (adang sudjana) 49 gambar 1 skema aplikasi perbankan bai’as salam prinsip yang dipakai adalah jual-beli. c. bai’al istishna bai’al istishna merupakan suatu jenis khusus dari akad bai’as salam. biasanya jenis ini dipergunakan untuk pembiayaan konstruksi dan barang manufaktur jangka pendek. dengan demikian, ketentuan bai’al istishna mengikuti ketentuan dan akad bai’al salam. bank bertindak sebagai pemesan (pembeli) sedang nasabah sebagai penjual (pembuat). kedua belah pihak sepakat atas harga serta sistem pembayaran, apakah dilakukan dimuka, melalui cicilan atau ditanguhkan sampai suatu waktu pada masa yang akan datang. bank dapat menyalurkan dana secara bertahap dengan prisip bai’al istishna. ketika barang akan atau sudah selesai, bank dapat menjual secara cicilan kepada nasabah lain untuk mendapat keuntungan. secara umum, aplikasi perbakan bai’al istishna dapat digambarkan dalam skema berikut ini. gambar 2 skema aplikasi perbakan bai’al istishna journal the winners, vol. 4 no. 1, maret 2003: 46-53 50 2. bagi hasil a. akad al mudharabah mudharabah adalah akad kerja sama usaha antara dua pihak dan pihak pertama (sahibul maal) menyediakan seluruh (100%) modal sedangkan pihak lainnya menjadi pengelola. keuntungan usaha secara mudharabah dibagi menurut kesepakatan yang tertuang dalam kontrak. apabila rugi ditanggung pemilik modal selama bukan akibat kelalaian pengelola tetapi bila kerugian diakibatkan karena kecurangan atau kelalaian pengelola maka pengelola harus bertanggung jawab atas kerugian. pembiayaan mudharabah diterapkan untuk hal berikut. i. pembiayaan modal kerja, seperti modal kerja perdangangan dan jasa. ii. investasi khusus dan sumber dana khusus dengan penyaluran yang khusus dengan syarat-syarat yang telah ditetapkan.sahibul maal. b. akad al-musyarakah al-musyarakah adalah akad kerja sama antara dua pihak atau untuk suatu usaha tertentu yang masing-masing pihak memberikan kontribusi dana (atau amal/expertise) dengan kesepakatan bahwa keuntungan dan risiko akan ditanggung bersama sesuai dengan kesepakatan. akad ini biasanya dipergunakan dalam hal berikut. i. pembiayaan proyek dalam hal ini, nasabah dan bank sama-sama menyediakan dana untuk membiayai proyek tertentu. setelah proyek itu selesai, nasabah mengembalikan dana tersebut bersama bagi hasil yang telah disepakati untuk bank. ii. modal ventura pada bank yang diperbolehkan melakukan investasi dalam kepemilikan perusahaan, musyawarah diterapkan dalam skema modal ventura. penanaman modal dilakukan untuk jangka waktu tertentu dan setelah itu bank melakukan divestasi baik secara singkat maupun bertahap. iii. akad al-ljarah ijarah adalah akad pemindahan hak guna atas barang atau jasa, melalui pembayaran upah sewa, tanpa diikuti dengan pemindahan kepemilikan (ownership/milkiyyah) atas barang itu sendiri. di sini bank bertindak sebagai pemberi sewa dan nasabah sebagai penyewa. pada akhir masa sewa bank dapat menjualnya kepada nasabah (sewa dengan hak opsi). bank islam yang mengoperasikan produk ijarah dapat melakukan leasing, baik operting lease maupun finacial lease. secara umum, aplikasi perbankan al-ljarah dapat digambarkan dalam skema berikut ini. bank syariah sebagai alternatif (adang sudjana) 51 gambar 3 skema aplikasi perbankan al-ljarah iii. produk jasa produk jasa pada bank syariah terdiri dari sebagai berikut. 1. al –wakalah al-wakalah adalah penyerahan, pendelegasian, atau pemberian mandat atau kekuasaan oleh seseorang kepada yang lain dalam hal yang diwakilkan. di sini, bank berfungsi sebagai wakil nasabah. prinsip al-wakalah biasanya digunakan sebagai berikut. a. sebagai dasar bisnis kiriman uang dalam perbankan. b. sebagai dasr bisnis kliring dalan perbankan. c. sebagai dasar bisnis inkaso (l/c) dalam perbankan, yaitu suatu pengiriman surat/dokumen berharga untuk ditagihkan pembayarannya kepada pihak yang menerbitkan atau yang ditentukan (tertarik) dalam surat/dokumen berharga tersebut. sebagai imbalan atas kegiatannya bank syariah mendapat fee (umulah). 2. al-kafalah al-kafalah merupakan jaminan yang diberikan oleh penanggung (kafil) kepada pihak ketiga untuk memenuhi kewajiban pihak kedua atau yang ditanggung. dalam pengertian lain, kafalah juga berarti mengalihkan tanggung jawab seseorang yang dijamin dengan berpegang pada tanggung jawab orang lain sebagai penjamin. bank sebagai pemjamin dan nasabah sebagai pihak yang dijamin. prisip al-kafalah biasanya digunakan dalam garasi bank, yaitu pemberian janji bank kepada pihak lain untuk jangka waktu tertentu, jumlah tertentu, dan keperluan tertentu bahwa bank akan membayar kewajiban nasabah yang diberi garansi bank journal the winners, vol. 4 no. 1, maret 2003: 46-53 52 kepada pihak lain tersebut apabila nasabah yang bersangkutan cidera janji (wan prestasi). garansi yang diberikan dapat berupa garansi atau standby l/c. 3. al-hawalah al-hawalah adalah pengalihan hutang dari orang yang berhutang kepada orang lain yang wajib menanggungnya. bank bertindak sebagai penerima pengalihan piutang dan nasabah sebagai pihak yang mengalihkan piutang. kontrak hawalah dalam perbankan biasanya diterapkan pada hal berikut. a. factoring atau anjak piutang, yaitu para nasabah yang memiliki piutang kepada pihak ketiga memindahkan piutang itu kepada bank. bank lalu membayar piutang tersebut dan bank menagihnya dari pihak ketiga itu. b. post-dated check, yaitu bank bertindak sebagai juru tagih tanpa membayarkan dulu piutang tersebut. c. bill discounting. secara prinsip, bill discounting serupa dengan hawalah. hanya dalam bill discounting nasabah harus membayar fee, sementara pembahasan fee tidak didapati dalam kontrak hawalah.. sebagai imbalan atas kegiatannya, bank syariah mendapat fee (umulah). 4. ar-rahn ar-rahn adalah menahan salah satu harta milik peminjam sebagai jaminan atas pinjaman yang diterimanya. barang yang ditahan tersebut memiliki nilai ekonomis. dengan demikian, pihak yang menahan memperoleh jaminan untuk dapat mengambil kembali seluruh atau sebagian piutangnya. secara sederhana dapat dijelaskan bahwa rahn adalah semacam jaminan hutang atau gadai. kontrak rahn dipakai dalam perbankan dalam dua hal sebagai berikut. a. sebagai prisip rahn dipakai dalam prinsip artinya sebagai akad tambahan terhadap produk lain seperti dalam pembiayaan bai’al murabaha. bank dapat menahan barang nasabah sabagai konsekuensi akad tersebut. b. sebagai produk. sebagai produk rahn adalah gadai. bedanya dengan pengadaian biasa, dalam rahn nasabah tidak dkenakan bunga tetap. yang dipungut dari nasabah adalah biaya penitipan, pemeliharaan, penjagaan, serta penaksiran. perbedaan utama antara biaya rahn dan bunga pengadaian adalah pada bunga pegadaian biasa, sifat bunganya dapat berakumulasi dan berlipat ganda, sementara biaya rahn hanya sekali dan ditetapkan dimuka. 5. al-qardh al-qardh adalah pemberian harta kepada orang lain yang dapat ditagih atau diminta kembali. akadnya adalah akad saling bantu membantu dan bukan transaksi komersil. jika nasabah yang dibantu bank rugi karena musibah, bank syariah dapat membebaskannya pinjaman nasabah tersebut. akad qardh biasanya diterapkan sebagai berikut. a. sebagai produk pelengkap kepada nasabah yang telah terbukti loyalitas dan bonafiditasnya yang membutuhkan dana talangan segera untuk masa yang relatif pendek. nasabah tersebut akan mengembalikan secepatnya sejumlah uang yang dipinjamnya itu. b. sebagai fasilitas nasabah yang memerlukan dan cepat sedangkan ia tidak dapat menarik dananya karena misalnya, tersimpan dalam bentuk deposito. bank syariah sebagai alternatif (adang sudjana) 53 c. sebagai produk untuk menyumbang usaha yang sangat kecil atau membantu sektor sosial. guna pemenuhan skema khusus itu telah dikenal suatu produk khusus, yaitu qardhul hasan. penutup simpulan baik produk penghimpunan dana, penyaluran dana, maupun produk jasa bank syariah pada dasarnya didasarkan atas satu prinsip yang sangat mendasar dibandingkan dengan bank konvensional, yaitu tidak diperkenankannya bunga (riba). prinsip itulah yang telah menyelamatkan bank syariah dan nasabahnya dari imbas krisis moneter yang terjadi. bunga diharamkan. oleh karena itu, semua transaksi perbankan bank syariah didasarkan atas pola jual–beli atau perdagangan. di samping itu, semua aspek perbankan yang baik sebagai mana terdapat pada pengelolaan perbankan konvensional seperti prinsip 5 c (capital, collateral, capacity, character, and condition) dijalankan dengan sebaik-baiknya mengingat ada aspek ukhrawi dalam pengelolaan dana perbankan syariah praktek “mark – up” atas suatu pembiayaan proyek rasanya akan sangat sulit terdapat pada bank syariah. daftar pustaka antonio, muhammad syafii. 1999. bank syariah, wacana ulama, dan cendekiawan. penerbit tazkia institut. 20 oktober 1999. microsoft word 01_ laksmi_setting.doc pengaruh analisis jabatan .....(laksmi sito dwi irvianti; julius adi) 1 pengaruh analisis jabatan dan perencanaan sumber daya manusia terhadap rekrutmen karyawan laksmi sito dwi irvianti1; julius adi2 1,2 jurusan manajemen, fakultas ekonomi dan bisnis, universitas bina nusantara, jln. k.h. syahdan no. 9, palmerah, jakarta barat 11480 laksmisito@binus.ac.id abstract pd karunia jaya is a trading company engaged in supplying spare parts of four-wheeled vehicles. the company originally only deals in one brand, namely toyota. but, with more and more development, it grew to deal with four brands, including toyota, suzuki, daihatsu, and isuzu. due to the increase in the number of brands, the company certainly requires added labor. the purpose of this study is to perform role analysis and human resources planning on employee recruitment at the company. results obtained can be used as a reference or a guide for companies in developing effective recruitment. the method of analysis used in this study are correlation analysis and linear regression. data is obtained by spreading the questionnaire to employees. results achieved in this research is that role analysis is strongly associated with the recruitment at (0.702) and hr planning with recruitment at (0.736). job analysis and human resource planning is strongly correlated to recruitment at (0.778). also job analysis has medium influence with recruitment at (0.492) and hr planning with the recruitment at (0.541). job analysis and human resources planning is associated with the recruitment at (.605). with this results it is expected that role of job analysis and human resource planning can be a major factor to improve the effectiveness of employee recruitment. keywords: job analysis, human resources planning, employee recruitment abstrak pd karunia jaya merupakan perusahaan dagang yang bergerak di bidang supplier suku cadang kendaraan roda empat. perusahaan pada awalnya hanya bermain di satu merek yaitu toyota. tetapi, semakin lama semakin berkembang sehingga bertambah menjadi memegang 4 merek kendaraan roda empat, meliputi toyota, suzuki, daihatsu, dan isuzu. karena bertambahnya merek, tentunya membutuhkan pertambahan tenaga kerja. tujuan penelitian ini ialah melakukan peranan analisis jabatan dan perencanaan sumber daya manusia terhadap rekrutmen karyawan di perusahaan. hasil penelitian yang diperoleh dapat dijadikan sebagai acuan atau pedoman bagi perusahaan dalam membuat suatu perekrutan yang efektif. metode analisis yang digunakan dalam penelitian ini adalah analisis korelasi dan regresi linear. data diperoleh dengan menyebar kuesioner terhadap karyawan. hasil yang dicapai dalam penelitian ini adalah analisis jabatan berhubungan kuat dengan rekrutmen sebesar (0,702) dan perencanaan sdm dengan rekrutmen sebesar (0,736). analisis jabatan dan perencanaan sdm berhubungan kuat dengan rekrutmen sebesar (0,778). selain itu, memiliki pengaruh analisis jabatan berpengaruh kuat dengan rekrutmen sebesar (0,492) dan perencanaan sdm dengan rekrutmen sebesar (0,541). analisis jabatan dan perencanaan sdm berhubungan yang kuat dengan rekrutmen sebesar (0,605). dengan ini diharapkan peranan analisis jabatan dan perencanaan sdm dapat dijadikan faktor utama untuk meningkatkan efektivitas rekrutmen karyawan. kata kunci: analisis jabatan, perencanaan sdm, rekrutmen karyawan 2 journal the winners, vol. 11 no. 1, maret 2010: 1-11 pendahuluan manajemen sumber daya manusia (sdm) merupakan suatu jenis pengakuan atas pentingnya unsur manusia sebagai sumber daya yang cukup potensial, yang perlu dikembangkan sedemikian rupa sehingga mampu memberikan kontribusi maksimal bagi organisasi, dan pengembangan sdm tersebut. menurut mondy, w.r. (2010:4), “human resource management is utilization of individuals to achieve organizational objectives.” sedangkan menurut milner dan crane (2005:12), “human resources management is the process developing, applying and evaluated policies, procedures, methods and programs relating to the individual in the organization.” jadi, dapat dikatakan bahwa manajemen sdm memegang peranan penting dalam suatu organisasi untuk mencapai tujuannya. sebagaimana elemen organisasi yang lain, sdm harus dikelola dengan baik. bahkan bisa dikatakan bahwa pengelolaan organisasi pada dasarnya adalah proses pengelolaan manusia. semua organisasi apapun jenis, ukuran, fungsi ataupun tujuannya harus beroperasi dengan dan melalui manusia. dibandingkan dengan elemen-elemen yang lain, memang dapat dikatakan bahwa manusia merupakan elemen yang paling dinamis dan kompleks. seringkali efisiensi pelaksanaan organisasi tergantung pada pengelolaan dan pendayagunaan manusia, maka setiap manajer harus mampu bekerja secara efektif dengan manusia dan harus mampu memecahkan bermacam-macam persoalan sehubungan dengan pengelolaan sdm. pengelolaan sdm di dalam organisasi kemudian dikenal dengan manajemen personalia dan berkem