Articles

Designing A Creative Business Model for Outdoor Photographers Through Business Model Innovation

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Photography at Tangkuban Perahu Nature Tourism Park is one of the creative industry-based Micro, Small and Medium Enterprises (MSMEs) included in the creative economy and engaged in photography. Tangkuban Perahu Nature Tourism Park is one of the tourist destinations whose position is located not far from the center of Bandung City so that it can be easily reached by tourists in Bandung City. Currently, photographers at Tangkuban Perahu Nature Tourism Park face problems in the form of fluctuating trends in the use of direct photography services due to constraints in human resources, promotion, product quality, and business partnerships. To solve this problem is to evaluate in depth the business model that is currently being run. In this study, an evaluation of the business model currently being run by outdoor photographers using the Business Model Canvas (BMC) framework was conducted. To obtain data, interviews with photographers and observations in the field were conducted. Then interviews with visitors to understand visitor profiles and business environment data. From the data obtained, the results will be used to design strategies, which are then used to design the proposed Creative Business Model Canvas (CBMC). Based on the design results, there are several additions to the creative business model canvas for outdoor photographers. In artistic identity, two new values were added: photos that highlight the natural beauty of Indonesia and the mystical charm of Tangkuban Perahu. In the Your audience block, an additional segment was added: groups. In channels, there are options to work with travel agents or local guides, as well as promotion through social media such as Instagram and TikTok. In revenue stream, additional group and pre-wedding photo packages are available. In key resources, added a photo booth directly in the tourist area as a new asset. In key activities, promotional activities through social media are included. In key partners, new partners were added, namely travel agents and local guides. Meanwhile, in the cost structure, additional costs for purchasing photo frames (operational costs) and digital promotions (investment costs) were added. In addition, there are two new blocks, namely art products and artistic services, which help photographers better understand the creative value that can be offered through photo services.

A Comparative Analysis of Research and Development Based Incubator in Thailand, Brazil and Indonesia

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Research and development (R&D)-based business incubators serve a strategic function in bridging the divide between scientific innovation and market application. In Indonesia, however, these incubators have yet to reach their full potential. Existing strategic models have not yielded satisfactory outcomes in fostering innovation-driven startups. To address this issue, the present study conducts a benchmarking analysis of R&D-based incubator models in Thailand and Brazil—two emerging economies that, while facing structural challenges similar to Indonesia, exhibit diverse institutional responses and incubation frameworks. Utilizing a Systematic Literature Review (SLR) approach, this research identifies the models employed in each country and examines the influence of external environmental factors. The findings are categorized into two main dimensions: incubation model structures and the external environment, analyzed through the PESTLE framework. Thailand implements an augmented Stage-Gate model, Brazil adopts a Business Model Canvas (BMC)-oriented approach, and Indonesia applies a traditional three-stage incubation model. Significant structural gaps were identified in political, economic, and legal aspects, particularly in the Indonesian context. This study offers targeted recommendations to address these disparities and enhance the effectiveness of R&D-based incubators in Indonesia. To the best of the author’s knowledge, this is the first study to utilize a Systematic Literature Review to compare R&D-based incubator models across emerging economies, thereby providing a robust and transparent foundation for policy and strategic development.

Developing a Business Model Canvas for Online Classified Ads Platform: A Startup Case Study

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A growing culture of using the internet, aims to provide products and services that are modern and safe in the online advertising market. This study proposes a business model canvas for new startups classified online ads to gain a competitive advantage in the Indonesian market. Utilizing qualitative research, this study explores the development of an online classifieds business, with a focus on the integration of AI technology and in app payment systems. The proposed model includes product development, marketing and gathering user feedback. Likewise, the company can implement the proposed business model by developing its platform features and customer service.

Proposed Ideal Business Model of an IoT Online Store (Case Study of Cosmic.id)

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Cosmic.id is one of the businesses engaged in the IoT industry. It has been established since 2018 and is selling the products via e-commerce (Tokopedia). Cosmic.id has three products categories; in-house products (LoRa, and Development Board), resale products (Resistor, Connector, Capacitor, and etc) and custom products or services (Bridge Monitoring System, Temperature Sensor, and etc). Currently, Cosmic.id serves 2 segmented customers; B2C and B2B. Both segment give profit to the company, but since the internal resources are limited, then Cosmic.id has to decided which segment that the company should focus on, so the company could gain more revenue and have stable revenue for each month. The research objective of this thesis is to discover the ideal model business of Cosmic.id, B2B or B2C, therefore they could focus more to gain more revenue for the business. Also, another purpose is to discover whether the existing Unique Value Proposition is still relevant to the target model and what needs to be fixed. The research conducts in qualitative study, interviewing existing and prospective customers, both B2C and B2B customers. During the research, it was found that the B2B segment has a big opportunity for Cosmic.id’s revenue streams. It could give more revenue to the business, but some efforts have to be done to reach that market. In addition to that, some parts of the existing Unique Value Proposition are not relevant to the current condition. The end outcome of this study is the focus on B2B customers and the new Unique Value Proposition, which will be applied in this business and is given in the form of OKR and KPI in accordance with consumer needs. It is hoped that Cosmic.id and the team would do their best to provide the products that the market really needs and apply the new Unique Value Proposition both for B2B and B2C customers, so that the company will have stable revenue and could be sustained in the future. It is also hoped that Cosmic.id could contribute to the IoT development in Indonesia since there are not many LoRa manufacturers in Indonesia.

Proposed Marketing Strategy for Commercial Single Branding Product of PT Agriculture (Case of Urea Fertilizer)

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A fertilizer firm with management responsibilities for subsidiarized businesses is PT Agriculture’s Company. PT Agriculture will become an activist holding in August 2020. The business of PT Agriculture is still working toward a number of strategic objectives, such as corporate transformation, decarbonization, and sustainability initiatives. The PT Agriculture Company had over 100 product brands prior to the restructuring function, which led to bad market circumstances as a result of multiple brands being offered in the same marketing territory. Due to the fact that each PT Agriculture Company group has a unique strategy, this leads to a silo mentality that is not consolidated. The company’s flagship urea product, produced by PT Agriculture, has been designated the Urea Fertilizer Brand. The right marketing strategy is necessary for PT Agriculture’s business to be able to commercialize items that could end up representing the company’s products and compete in the market.

Companies must be aware of both internal and external business situations in order to conduct a company analysis. External analysis examples include the PESTEL analysis and Porter’s Five Forces. In the internal analysis, VRIO and the Diamond Model are utilized.

The results suggest that PT Agriculture’s Company should concentrate on its advantages. Then, PT Agriculture’s Company must improve its marketing plan from upstream to downstream. To be more specific, regarding the product urea.

Business Model Innovation for Red Hat to Increase Revenue in Indonesia Banking Industry: The Case of Bank Berdaya Bersama

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The advancement of digital technology and the change in user behavior rise a new challenge for the banking industry in Indonesia, users are now more sensitive to a good customer experience, and less loyal. Another challenge for banking is a disruption from fintech. To face these challenges, banks have started programs to transform themself to meet the current demands. This transformation program thus increases their technology along with banks’ technology budget allocation. Red Hat as a technology provider based on open source needs to compete with many players in Indonesia’s IT industry.

Using Bank Berdaya Bersama as a point in case, this study is prepared to build an innovative business model for Red Hat in increasing revenue and facing competition in Indonesia’s banking industry.