Articles

Strategy for Optimizing Idle Land to Increase Non-Aeronautical Revenue: A SWOT and VRIO Approach

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The decline in air traffic at Adisutjipto Airport, Yogyakarta, following the opening of Yogyakarta International Airport calls for revenue sources that do not depend on passenger volume. This study analyzes the existing condition of idle land, the internal and external factors influencing its optimization, and the company’s resource advantages, and then formulates a strategy for optimizing idle land to increase non-aeronautical revenue. A descriptive qualitative approach was employed in a single case study of the 4,945 m² Babarsari idle land owned by PT Angkasa Pura Indonesia, Adisutjipto Yogyakarta Branch Office. Primary data were obtained through semi-structured interviews with nine purposively selected informants; secondary data came from the partner selection document and the highest and best use (HBU) study. The data were analyzed through reduction, display, and conclusion drawing using weighted strengths, weaknesses, opportunities, and threats (SWOT) analysis, value, rarity, imitability, and organization (VRIO) analysis, and a value creation assessment. Data trustworthiness was tested through triangulation, member checking, and an audit trail. The results show that the land has clean and clear legal status, that the company’s strategic position lies in SWOT Quadrant I (+0.88; +1.68), and that four of the six resources generate sustained competitive advantage. Corporate reputation and the stakeholder network have not yet been utilized because organizational readiness, particularly specific regulations for land outside the Airport Master Plan (AMP) and communication with the community, is still being developed. The sports center alternative with integrated commercial facilities ranks highest on four of the five value creation indicators, although its net present value is lower than that of office space. These findings indicate that strategy selection depends not only on financial performance but also on organizational readiness and stakeholder relationships. Actual revenue realization will be evaluated once the business activities are in operation. The study recommends strengthening internal regulations, accelerating the cooperation process, and developing an asset utilization strategy that considers economic potential, implementation readiness, and business sustainability.

Funding Valuation to Support Disaggregation of Value Chain in HLMC Hospital Yogyakarta

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The economic cycle always goes through boom-and-bust cycles. When the economy slows down, the government will increase the money circulation; when the economy is heating up, the government will slow down the money circulation. In this regard, interest rates, credit control, currency policies, and so on play a role. The COVID-19 pandemic era accelerated the economic cycle relatively quickly. During the pandemic, the government provided massive stimuli to the economy, and during the recovery phase, the government tightened financial policies again. Such actions have made the global investment market experience tumultuous twists and turns. Corporate funding, which was relatively easier before, has become difficult. Companies once again have to adjust their business models to their original goals: value creation, generating profit and margin, and ultimately producing positive cash flow. Adapting to the changing demands of the business environment, shifting from a “growth at all costs” mindset to prioritizing “more sustainable profit,” companies must acknowledge that the essence of business activities is to generate real cash flow and tangible profits. This study compares different approaches to valuing companies: the Discounted Cash Flow (DCF), Revenue Multiple, and PE Multiples. DCF takes a valuation approach based on projections of the company’s future cash flows and real profits operationally, whereas revenue and PE multiples offer simpler valuation methods by emphasizing relative comparisons within similar industries. This simplification aids investors in evaluating potential profits when executing exit strategies. Therefore, the valuation method using DCF (Discounted Cash Flow) is not as aggressive as the valuation method using exit multiples, such as P/E (Price/Earnings) Multiple, let alone Revenue Multiple.  This research serves as a benchmark for the funding valuation method to support the disaggregation outlined by HLMC Hospital Yogyakarta in the field of skin, aesthetic, and wellness centers.

Growth Hack Service Framework for Boleh Dicoba Digital Company Based on Growth Hacking Framework and Value Co-Creation Framework

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BDD growth hack service practice is close to Bohnsack and Liesner (2019) and Kohtamäki & Rajala (2016) growth hack framework but lacking in data analysis and testing. The author suggested a new framework that combines the growth hack framework and the value co-creation framework. New operational instructions include value creation agreements and A/B testing based on comparative analysis. BDD should also remind clients about value creation and discuss value in exchange and value in use assignments. The new framework should increase service quality and resource availability of BDD growth hack service.