Articles

Assessing an Indonesian Credit Union’s Internal Control Using COSO ERM Framework: A Case Study at Credit Union Kridha Rahardja

/in /by

COSO ERM framework has been widely used for assessing the quality of internal control in many forprofit companies. However, there is still limited application of COSO ERM Framework for non-profit organizations and social enterprises with dual objectives like credit unions. This research evaluates how effective and comprehensive the implementation of internal controls is within a Credit Union in Indonesia, a member-based social enterprise offering financial services to middle-low-income groups. This is a collaborative case study of the researcher and the practitioners of the credit union. Participants shared their perspectives through questionnaire feedback, interviews, and focus group discussions, to examine the control activities within the organization and identify risks that may impact the organization’s goals. The findings suggest a critical demand for forming an operational manual with detailed structures and policies. Furthermore, the sense of loyalty is the key to enhancing members’ participation in various activities within the organization.

Transforming NGO Projects into Social Enterprise

/in /by

Introduction: Non-Government Organization (NGO) is Non-Profit Organization founded to create social impact without looking for profit. NGOs are generally funded through charitable donations, however, many of those sources of funds have dried up. For sustainability, NGOs need to find ways to enhance their sustainability, diversify their income source and become less dependent on donors. This research will study Global Peace Foundation Indonesia using Gap Analysis to find how to transform an NGO into a Social Enterprise and the innovation of the business model needed.

Literature Review: This research benchmarks Fowler’s steps of social enterprise, Ann Mei Chang’s hybrid organization, and Burkett’s social business model.

Research Methodology: This research collects primary and secondary data through interviews, FGD, and desk research. The data obtained data from the collection methods will be processed and analyzed with a qualitative approach: logic model, PESTEL Analysis, and SWOT Analysis.

Result and Discussion: From the logic model of Global Peace Foundation Indonesia, can be seen that some projects can potentially be transformed into a social enterprise, and the nearest industry to those projects are Tourism Industry. Continuing the logic model analysis, PESTEL Analysis was done, and the result showed some positive opportunity in the tourism industry that relate to what Global Peace Foundation Indonesia value. As there’s a positive opportunity, SWOT Analysis was used to find the strategies to implement. Those Analyses were used to produce the Value Proposition Canvas and Social Business Model of Global Peace Foundation Indonesia.

Conclusion and Recommendation: Fowler’s steps of Social Enterprise are slightly different from the transforming steps of Global Peace Foundation Indonesia. This research can be used by other field affiliates of the Global Peace Foundation and other NGOs who want to transform into social enterprises too. Future research can focus on the assigning human resource and leadership to the transformation process.

Incorporating Social Value into Products of Social Enterprise for a New Brand Identity Case Study: Rumah Ismail

/in /by

Rumah Ismail is a Community-Based Entrepreneurship Accelerator (CBEA) that accelerates community business generated from empowerment activities. The profits earned by Rumah Ismail are used for social activities such as charity programs and the provision of scholarships for school education for underprivileged children. This research aims to develop a sustainable communication model that effectively conveys Rumah Ismail’s mission and social values to the stakeholders to enhance Rumah Ismail’s brand. This research uses brand identity by Kapferer and Integrated Marketing Communication (IMC) by Belch & Belch with the mixed methodology or combined approach between qualitative and quantitative methods. The results of this study indicate that Rumah Ismail needs to communicate its social values, namely increasing the added value of local products through empowering local talents as a new brand of Rumah Ismail by delivering a strong brand communication message through packaging so that the social values owned by Rumah Ismail can be conveyed effectively Suitable for all people stakeholders.