Determining the Optimal Capital Structure of PT Bumi Resource Tbk

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Demand for coal increased because of the energy crises that occurred in Europe and China. Due to this growth in demand, coal prices have gone up globally as well. This can be an opportunity for coal companies in Indonesia as one of the countries with the largest coal reserves in the world. PT Bumi Resource Tbk, one of the businesses with Indonesia’s largest coal deposits. Additionally, most of the coal supplied by PT Bumi Resource Tbk is consumed domestically, and most of it for China. So, it is necessary to increase production to meet these demands.

One way to increase production is by optimizing the company’s capital structure. The proportion of debt and equity which is capital structure will be the focus of the company in the future. PT Bumi Resource Tbk was repeatedly unable to repay its loans. Based on calculations through the Damodaran theory, the optimal capital structure for companies in 2021 with 30 percent debt ratio. This would maximize the company’s value of $1,709,478,366 with a weight average cost of capital of 7.86 percent. Future projections are made using three scenarios: the best scenario, the base scenario, and the worst scenario. The best scenario is the best of these three scenarios with delivers the highest firm value, $ 4,605,803,420 with the lowest weight average of capital costs, 9,06 percent. The proportion of the debt ratio needed to maximize the value of the company in its best condition is 10 percent.

The results of calculating the optimal capital structure today or in the future show that companies need to reduce the debt ratio if they want to maximize their firm value. In addition, the company is also facing threat of bankruptcy because the Alman Z-score is

-0.13. There are several ways based on the Damodaran framework to reduce debt ratio. First, a company can do a debt for equity swap by converting its debt into equity or by doing a private placement. Second, companies can negotiate with lenders regarding the maturity of their debts or decrease of interest by making an agreement. Third, companies can sell their assets to pay off their debts.

 

Business Strategy to Improve Business Incubation Services for Science Techno Park

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Science Techno Park is a facility in the form of an area specially prepared to initiate and flow knowledge and technology between R&D institutions, universities and industry. STP facilitates the growth and development of innovative start-ups through incubation activities and spin off processes. The main objective of STP is to encourage economic growth through the development of innovation potential. Science Techno Park was initiated in 2014 under PT Bogor Life Science and Technology (BLST) as a holding company owned by Bogor Agricultural University (IPB).

This study aims to identify and improve the Science Techno Park business incubation services for inwall tenants and startup companies that are fostered based on the problems that occur and are expected to increase other income from the Science Techno Park business. The method used in this study uses primary data derived from quantitative and qualitative methods obtained from questionnaires and interviews with inwall tenants and startup companies that are undergoing the Science Techno Park business incubation program. Secondary data analysis uses company reports and literature from various sources.

The conceptual framework used in this study begins with an analysis of customers of Science Techno Park business incubation service. Then analyze the external environment using general environmental analysis, industry analysis, and competitor analysis. For internal environmental analysis using resources, capabilities, and core competencies. All the results of the analysis are summarized in a SWOT analysis. From the results of the analysis, the researcher provides solutions and business strategies to solve problems experienced by Science Techno Park in fostering inwall tenants and startup companies and provide business alternatives to earn other income besides business incubation services.

The strategy proposed based on research results is a strategy of business diversification and cost leadership. In addition, a functional strategy is provided to improve company performance in the area of marketing, finance, and internal management. The researcher provide implementation plans by mapping the potential users of business incubation services and the roadmap for the development of Science Techno Park to improve business incubation services and develop other business services.

Physical Therapy Treatment in Children with Cerebral Palsy

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Background: Cerebral palsy is one of the most frequent disorders of the central nervous system. The various methods and techniques used by physical therapists can be very useful in treating children with cerebral palsy. The purpose of this review is to investigate the various techniques and methods used by physical therapists to improve balance, increase muscle strength, acquire and maintain agility, develop good neuromuscular coordination, improve of physical functionality and the best possible independence of children with cerebral palsy.

Methodology: The review followed the Preferred Reporting Items for Systematic Reviews and Meta-Analysis (PRISMA) reporting guidelines. A search on Pub med, Google scholar and PEDro for research articles that investigated the effectiveness of various methods/techniques used by physical therapists for the treatment program for children with CP of the last 20 years.

Results: A total of 18 articles were included in this review. The methods investigated were hippotherapy (n=3), Neurodevelopmental therapy (Bobath) (n=3), stretching (n=2), hydrotherapy (n=1), resistance and orthotics (n=3), and the parameters of classical physical therapy (n=4).

Conclusion: From the selected article it appeared that modalities such as Bobath and hippotherapy have beneficial effects on balance, static and motor control and may also have beneficial effects on gait on children with CP. Passive stretching researchers agree that there are no significant changes in reducing spasticity, while they help a lot in gaining greater range of motion as does resistance. Braces presented to be a very important tool in the hands of the physical therapist to avoid various deformities.

The Effect of Google Classroom Media on Student Learning Outcomes in Lathe Machinery Engineering Class XI SMKN 5 Medan, North Sumatera, Indonesia

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The purpose of this study was to find out whether there is an influence between online learning using Google Classroom media on student learning outcomes in Class XI Lathe Machinery Engineering at SMKN 5 Medan, North Sumatera, Indonesia. This research used quantitative methods. The population in this study were students of class XI SMKN 5 Medan with a descriptive statistical approach. Questionnaires and tests are used to collect data. Furthermore, simple linear regression analysis was used to analyze the data. Based on the research findings, it is known that the sig. of 0.009, which is less than the alpha value of 0.05, means that Ho is rejected and Ha is accepted. As a result, online learning using Google Classroom has a significant influence on student learning outcomes Lathe Engineering at SMK Negeri 5 Medan by 10.3%.  The percentage of 10.3% is derived from the R Square value, which is 0.103 or the equivalent of 10.3%, while the remaining 89.7% is influenced by other factors.

Evaluation of Vocational Training during the COVID-19 Pandemic Period in Indonesia

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Research based on the conditions of the COVID -19 pandemic and government policies in reducing unemployment through vocational training. However, the vocational training program at the Ministry of Manpower during the COVID -19 pandemic period in 2021 did not have a significant impact. This study aims to evaluate the ministry of workforce’s vocational training program during the COVID -19 pandemic in 2021. The research was conducted through a qualitative approach using the CIPP guidance theory. Data collection methods using observation and unstructured and semi-structured interviews, documents, and literature studies. The research uses data analysis techniques with three stages, in the form of data condensation, data presentation, and conclusion and verification. The results of the study concluded that the vocational training program at the Ministry of Manpower had not been successful in terms of input, process, and product aspects. From the input aspect, the vocational training program’s resources are insufficient. From the process aspect, there are still constraints on the realization of the training, supervision, and instructor skills. Meanwhile, from the product aspect, it cannot be ensured that the participants will be placed after training.

Proposed Strategy to Increase the Number of Subscription of Thudio Using Freemium Model

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Nowadays, almost all aspects of our daily life intersect with design and creativity, and design is no longer an exclusive thing; it’s a part of lifestyle. People become aware about interior design. Ever since Covid-19 pandemic, people mostly spend their time at home. It cause increasing furniture demand. From the data shows that the number of construction company in Indonesia is growing every year. This create opportunities and potential for business market. Thudio is a new innovation for designers to make their work easier. It connects a lot of stakeholders, from designers and architects to customers and suppliers, to help consumer deliver the best result for interior design projects. Thudio is a variation on the word “studio,” which refers to a place where designers, artists, and innovators work, collaborate, and innovate. Thudio aspires to become a venue for innovation and collaboration in the home living market. With the marketing activities that have been implemented, Thudio should develop so that the consumer subscription target can be achieved.

The research strategy data collection method chosen for this research is questionnaires which is going to be administered through electronic and online questionnaires. This will be considered as the effective, and efficient way in capturing the information. Research with surveys by distributing questionnaires to interior designers that aim at describing and explaining business issues and seeks the answers by the user of the quantitative data. Research limitation; questioner only for Interior designer who works freelance, in-house, and as a student. The proposed questioner is designed to determine customer awareness of the Thudio brand and the services it provides. Also, to investigate whether factors influence users’ willingness to subscribe to a service.

The framework used in this research to analyse the result using 4V (Value proportion, value creation, value capture, and value delivery) to asses the freemium business strategy. As proposed solution to be implemented, researcher using business model canvas (BMC). Based on the analysis, Thudio must create marketing initiatives to increase the number of Thudio service consumers. Furthermore, the aspect that makes individuals want to subscribe to a service is differentiated distribution, which is influenced by the benefits supplied and the service’s goal. As a result, Thudio employs a freemium strategy in order to increase the number of Thudio service subscriptions.

The Implementation of Omnichannel Marketing to Improve Customer Engagement and Customer Retention in English Courses

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English is one of the most spoken languages in the world, and understanding the language opens a gateway to connecting with other cultures and unlocking a vast source of information from around the world. In Indonesia, one of the oldest and most prominent English course institutions known as LIA is recently struggling to retain a stable amount of students. Based on data provided by the institution, one of its branches experienced a decline from 1200 students to just 300.

The purpose of this research is to study the impact of customer experience and omnichannel marketing on customer switching behavior. This research utilizes a quantitative approach and purposive sampling of 234 respondents from active LIA students in Greater Jakarta, including its neighboring cities such as Bekasi, Tangerang, and Depok. The hypothesis was tested using multiple linear regression. The result of this study indicates that customer expectation and omnichannel marketing have a significant and positive impact on the switching behavior of LIA students. Findings from this study were useful for future research regarding these fields of study and the topics while also providing practical implementation of omnichannel marketing in the forms of social media advertising, search engine optimization, sales promotion, and conventional word-of-mouth marketing to attract potential customers and mitigate the switching behavior.

Analyzing the Influence of Korean Celebrities as Brand Ambassadors toward Customer Loyalty in Indonesia

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K-Wave, also known as Hallyu, has taken over Indonesia, particularly among millennials. It is getting more challenging to find luxury brands that do not hire K-pop stars or Korean celebrities as their global ambassadors. Due to their promising engagement, several brands in Indonesia are currently courting Korean celebrities to become brand ambassadors. It is important to note that customers may be aware that the artist may not use products from all of the brands. Consequently, brands in Indonesia continue to employ Korean celebrities as brand ambassadors. Developing strong brand loyalty is one strategy to achieve success in a market that is saturated with competitors and where the costs of switching from one seller to another are very low. To cultivate consumer loyalty, brands should give opportunities for consumers to engage in activities they enjoy. Young Indonesians were attracted to K-pop because it gave them a sense of escape and community. Whether through personality congruence between the company and the celebrity or through fan engagement, leveraging Korean celebrities to create customer loyalty for brands in Indonesia. This research mostly employs quantitative methods to collect data. A questionnaire-based online survey will serve as the research tool. Respondents were offered a series of questions requiring multiple-choice, likert-scale, and short-answer responses. The survey was made accessible to respondents via multiple online platforms. Due to the widespread circulation of survey links via the internet, a screening question was necessary to validate that respondents are qualified to finish the survey. The screening questions determined whether or not respondents had purchased products or services from the brand whose brand ambassadors are Korean celebrities. In order for their future survey response to be valid, the requirement must be met. According to the data analysis results, personality congruence and fan engagement have a significant impact on strengthening customer brand loyalty through brand attachment and brand love. The majority of respondents believe that Korean celebrities are attractive and that purchasing their endorsed products is a sort of support for them. The results of this study also indicated that the type of items purchased had no effect on consumer loyalty. Therefore, brands in Indonesia are not required to develop a marketing strategy that is especially targeted to their products. Implementing brand matching and gamification techniques, as well as developing an exclusive ecosystem for their products, are a few things Indonesian companies should do if they want to maximize the impact of Korean celebrities as brand ambassadors.

Developing Persona for Used Car Buyers in Indonesia

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Indonesia used car market is predicted to register a CAGR of about 5.74% in 2027. As there is an increase in the number of Indonesian used car players in the future, in order to remain competitive in the market, developing a buyer persona is one of the most essential solutions. Currently, in Indonesia, persona development in the automotive industry is very limited, due to limited research and digital players in the market. There are approximately 50k auto dealers in Indonesia. However, some of them, mostly SMEs auto dealers, still have limited resources, especially to do some research about market conditions. Therefore, this research could be a reference for automotive businesses to understand customers’ motivations. The data collection used in this study is by using quantitative and qualitative methods. Quantitative methods will be used for buyer persona development by using an online survey questionnaire. There are three variables that will be used in developing buyer persona for used car buyers, such as biographic information, users buying triggers, and consumer behaviors. Cluster analysis will be used to analyze the result of the survey questionnaire in developing the persona. After the persona is developed, then a qualitative method will be used to map the customer journey on the certain personas by using an in-depth interview.

Implementing Growth Hacking Taxonomy to Increase Customer Growth in Small Business: Bloca Brand

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Indonesia is one of the Southeast Asian nations with the greatest economic activity. Micro, small, and medium enterprises (MSMEs) are one of the sectors that support the economy in Indonesia. Local fashion brands are gaining popularity in current conditions. The fashion sector has grown over the past year, every year the new brand has come which makes the competition stronger than before. This phenomenon occurred due to the fact that fashion is not only for primer needs, but it also reflects social and economic status, which is commonly related with popularity. Growth hacking can be characterized as the concept of online marketing. Using techniques of viral content distribution in social media, growth hacking operations aim to attract the greatest number of customers at the lowest possible cost. The second, equally vital objective is to retain customers by influencing their fantastic experiences through continuous product improvement and development. This research aims to find the best marketing strategies using growth hacking taxonomy to increase customers and the implementation plan of proposed strategies. The Author utilizes descriptive statistics and content analysis to analyze the collected data from questionnaires. The research found that the customer expectation is at a very high rate but the growth of the customer is unstable, even though the brand had collaboration with several influencers and other brands. Author indicates that the only online platform that the brand uses is Instagram with the story feature, meanwhile the duration of the feature only lasted for 24 hours. The Author proposed marketing strategies based on the customer lifecycle stage on growth hacking. Acquisition: Leverage other people’s audience, Activation: Learn flow on boarding, Revenue: Depiction of scarcity, Retention: Increase value, Referral: Automated sharing.