Strategic Planning in SMEs: A Case Study in Indonesia

LO, Paulina,SUGIARTO, Sugiarto Korea Distribution Science Association 2021 The Journal of Asian Finance, Economics and Busine Vol.8 No.2

Hotels drive the growth and development of tourism. Despite their important role, many hotels are small and medium-sized firms (SME) that are struggling to survive against fierce competition. Experts agree that strategic planning is vital for SME survival, but it is not wholly applicable for SME managers. Meanwhile, Mintzberg's concept of crafting strategy offers a more productive insight into SME strategic planning, but its abstract nature has historically discouraged empirical research on its practical benefits. This study will be the first to empirically explore the operationalization of Mintzberg's crafting strategy characteristics, and analyze its influence on organizational learning using structural equation model. Using a sample of 50 hotels in Bali, Indonesia, this study reveals that managing pattern and stability, detecting discontinuity, and knowing the business have a positive but weak effect, whereas reconciling change and continuity proves to have a positive and significantly strong effect on organizational learning. This study has bridged the gap between the abstract concepts of crafting strategy, which is a potentially better approach for SMEs, with daily operational practices. This study also proves that Mintzberg's approach can be used to predict organizational learning. This relationship is crucial since previous studies concluded that organizational learning improves company performance.

Formulating A Competitive Advantage Model for Tourism Destinations in Indonesia

LESMANA, Henky,SUGIARTO, Sugiarto Korea Distribution Science Association 2021 The Journal of Asian Finance, Economics and Busine Vol.8 No.3

Indonesia has successfully increased its ranking to 40th place in the 2019 Travel & Tourism Competitiveness Index. While tourism has become the country's second largest foreign exchange contributor, there is no existing competitive advantage model for Indonesian tourist destinations. The purpose and novelty of this study is to develop and formulate a competitive advantage model for Indonesia's tourism industry. The model will be based on the supply-side perception analysis of competitiveness indicators from Bali and five designated super-priority destinations in Indonesia. This model is expected to become a guideline for policymakers to design an effective and focused strategy. Data were obtained from in-depth interviews with, and questionnaires given to, 62 qualified industry players from the public and private sectors. This data-driven approach builds a relationship between competitiveness indicators and competitive advantages using a combination of importance-performance analysis and confirmatory factor analysis, thereby leveraging these advantages to generate a strategic model to compete in the international tourism industry. This would also be the first study to use this method in defining the competitive advantage of a destination. Using structural equation modeling, the study found that there are 54 indicators representing twelve dimensions of competitive advantages with good fit criteria.

Family Business and Risk Management: Perspectives of SMEs Entrepreneurs in Indonesia

Jacob Donald TAN,Sugiarto SUGIARTO,Fongnawati BUDHIJONO 한국유통과학회 2021 The Journal of Asian Finance, Economics and Busine Vol.8 No.5

This study aims to explore the specific risks in family small-medium enterprises (SMEs) and explain how they manage these risks to sustain and expand. In Indonesia, family business composes around 95 percent of all businesses and contributes about 80 percent to the country’s economy. SMEs contribute approximately 57.8 percent to the nation’s gross domestic product. Risk management poses challenges to the family business’s survival, as family members do not take actions on risk. The assessment of risk is difficult and family businesses lack the ability to determine risk management priorities, including risk management review processes to evaluate risk, thus leading to family business failures. Applying the case study approach, in-depth semi-structured interviews were conducted in seven family SMEs comprising fifteen informants. Additionally, a focus group discussion consisting of three experts is conducted to reaffirm the findings from the interviews, observations, and field notes. The research identified the specific risks and how the family owners strategize to safeguard against these risks such as cash flow deficiency, operations dysfunction, cultural frailty, disharmony, transgenerational entrepreneurship failure, political uncertainty, and unprofessionalism. Comprehending these risks and their strategic decisions elucidated in this research could enable the family owners and key non-family professionals to work hand-in-hand to thrive over the family business risks together. Further avenues of research regarding family business risk management are also suggested in this study.

Too Big to Fail: Succession Challenge in Large Family Businesses

Hadi Cahyadi NG,Jacob Donald TAN,Sugiarto SUGIARTO,Anton Wachidin WIDJAJA,Rudy PRAMONO 한국유통과학회 2021 The Journal of Asian Finance, Economics and Busine Vol.8 No.1

This study investigated the main concerns and strategies in Indonesian large family businesses to undertake intergenerational succession effectively. The research data was obtained to shed light on the incumbents’ mindsets, key preferences, and experiences during the succession process. Access to incumbents of large family businesses that are conglomerates is scant. The preceding survey research was conducted to sensitize with the intricacy of the intergenerational succession process in large family businesses before entailing interpretative phenomenology analysis of qualitative data from interviews, observations, and field notes by approaching family members in five conglomerate groups that have major impacts on the economy. The findings explicate the incumbents’ preferred criteria in choosing their successors as well as their perceived concerns revolving around the appointment. Additionally, the incumbents’ succession approaches such as apprentice learning by successors, adaptability to external forces by successors, nurturing the entrepreneurial spirit in successors, governance establishment in the firms, business interest stimulation in successors, role modeling by incumbents, and collaboration between family and key non-family members are elicited during the intergenerational succession process. This study concluded with noteworthy implications for incumbents and successors in large family businesses, especially providing explicit criteria and strategies to appoint suitable successors, and suggesting potential avenues for future research.

Slide Session : OS-END-33 ; Endocrinology : Correlation Between Osteoprotegerin and Triglyceride/HDL-Cholesterol Ratio in Metabolic Syndrome Patients

( Robertus Satriyo Bs ),( Sugiarto ),( Supriyanto Kartodarsono ) 대한내과학회 2014 대한내과학회 추계학술대회 Vol.2014 No.1

Background: Serum Osteoprotegerin (OPG) is an independently indicator of cardiovascular disease. The serum concentration ratio of triglyceride (TG)/high density lipoprotein cholesterol (HDL-C) also identify cardiovascular disease. The aim of this study is to analyze correlation between OPG and TG/HDL-C ratio in metabolic syndrome (MetS) patients. Methods: A cross sectional study with analytic approach was conducted on Moewardi Hospital, Indonesia in 2013. Forty patients MetS and forty patient non-MetS were recruited from the general medical check-up clinic. Patients were diagnosed metabolic syndrome based on International Diabetes Federation (IDF) 2005 criteria. The differences between variables were compared using independent sample t-test. The relationship between OPG and TG/HDL-C ratio was evaluated by Pearson`s correlation coefficient Results: The patients mean age was 47.7±8.5 years in MetS and 42.6±9.3 years in non-MetS patients, MetS more common in women than in men (27 vs 13). There were statistically significantly differences among parameters: age, TG, OPG, TG/HDL-C ratio (p=0.013, 0.001, 0.002, 0.001 respectively). Mean OPG serum levels higher in MetS than non-MetS (0.73±0.32 vs 0.55±0.17 (pmol/l). MetS patients had higher mean TG/ HDL-C ratio than non-MetS (5.78±4.36 vs 2.76±1.65). Osteoprotegerin signifi cantly correlated with TG/HDL-C ratio in MetS (r= -0.46, p=0.003), but not in non-MetS Conclusions: The OPG was negatively correlated with TG/HDL-C ratio in metabolic syndrome.

Performance-based optimization of LQR for active mass damper using symbiotic organisms search

Pei-Ching Chen,Bryan J. Sugiarto,Kai-Yi Chien 국제구조공학회 2021 Smart Structures and Systems, An International Jou Vol.27 No.4

The linear-quadratic regulator (LQR) has been applied to structural vibration control for decades; however, selection of the weighting matrices of an LQR mostly depends on trial and error. In this study, a novel metaheuristic optimization method named as symbiotic organisms search (SOS) algorithm is applied to tuning LQR weighting matrices for active mass damper (AMD) control systems. A 10-story shear building with an active mass damper installed at the top is adopted as a benchmark for numerical simulation in order to realize the optimization performance considering three objective functions for mitigation of structural acceleration. Two common optimization methods including genetic algorithm (GA), and particle swarm optimization (PSO) are also applied to this benchmark for comparison purposes. Numerical simulation results indicate that SOS is superior to GA and PSO on searching the minimized solution of the three objective functions. Meanwhile, minimizing the square root of the sum of the squares of peak modal acceleration achieves the best control performance of structural acceleration among the three objective functions. In addition, force saturation is proposed and applied in the optimization process such that the control force level is close to the force capacity of AMD under specified earthquake intensity. Furthermore, the control performance of the optimized LQR is compared with that of the LQR designed by applying three common weighting selection methods when the 10-story building is subjected to various earthquake excitations. Simulation results demonstrate that the optimized LQR significantly outperforms the three LQRs on structural acceleration responses as expected and reduces story drift slightly better than the three LQRs. Finally, the performance-based optimized LQR is experimentally validated by conducting shake table testing in the laboratory. The experimental results and structural control performance are discussed and summarized thoroughly.

The Bullet Launcher with A Pneumatic System to Detect Objects by Unique Markers

Jasmine Aulia,Zahrah Radila,Zaenal Afif Azhary,Aulia M. T. Nasution,Detak Yan Pratama,Katherin Indriawati,Iyon Titok Sugiarto,Wildan Panji Tresna 한국정보통신학회 2023 Journal of information and communication convergen Vol.21 No.3

A bullet launcher can be developed as a smart instrument, especially for use in the military section, that can track, identify,detect, mark, lock, and shoot a target by implementing an image-processing system. In this research, the application of objectrecognition system, laser encoding as a unique marker, 2-dimensional movement, and pneumatic as a shooter has been studiedintensively. The results showed that object recognition system could detect various colors, patterns, sizes, and laser blinking.Measuring the average error value of the object distance by using the camera is ±4, ±5, and ±6% for circle, square and triangleform respectively. Meanwhile, the average accuracy of shots on objects is 95.24% and 85.71% in indoor and outdoor conditionsrespectively. Here, the average prototype response time is 1.11 s. Moreover, the highest accuracy rate of shooting results at 50cm was obtained 98.32%.