Innovate to Survive: Balancing Leadership and Innovation

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Innovate to Survive : Balancing Leadership and Innovation

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Innovate to Survive : Balancing Leadership and Innovation

INNOVATE TO SURVIVE Balancing Leadership and Innovation © Copyright 2024 DOI : 10.17605/OSF.IO/P6WC4 Google Books ID : DPJULHK2QGJ Copyright is protected by law. It is prohibited to quote or reproduce part or all of this book in any form without written permission from the publisher. First Published on July 2024 Authors : M Noval Setiawan, Rima Fauziyyah, Leo Aprianto, Desven Sulaiman, Dimas Permana, Nurjulya Ningsih, Juita Helfiliani , Melati Puspa Sari, Dayang Dea Dwi Sari, Mogi Amano , Elva Gustiaeni Nengsi, Ghaefira Nur Fatimah, Annisa Bella Vii Amandahasan , Edo Dwi Anggara, Dea Indah Permatasari, Dafa Nugraha, Efan Tri Ahsyar, Umu Kulsum, Farhan Yudis Tira. Editor : Andi Azhar Cover Design : Cak Anhar and Layout Published by: GEMINI Publishing , Yogyakarta Jl. Wates KM 3, Somodaran No. 122 A, Gamping, Sleman, Yogyakarta Website : www.geminipublishing.my.id Email: [email protected]

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PREFACE With full enthusiasm and deep gratitude, we present this book, "Innovate to Survive: Balancing Leadership and Innovation", to readers, especially business people, managers, and anyone who is involved in the challenging business world. In this era of globalization, competition in the business realm is increasingly fierce and demands rapid adaptation and continuous innovation. Realizing this, this book is presented as an answer to the need for effective business strategies to survive and even grow in a competitive market. Through this book, we try to present important and practical concepts in designing business strategies. From observing the market and, an indepth understanding of the competition, to implementing effective strategies for various business situations. Everything is presented in language that is easy to understand and with real examples that can be used as inspiration. We hope that this book will not only be a guide for readers in responding to the ever-changing business environment but also as motivation to always look for opportunities in every challenge. Creativity and innovation are key, and through this book, we want to invite readers to never stop learning and innovating in designing strong business strategies.

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Innovate to Survive : Balancing Leadership and Innovation

Thank you to all parties who have supported the process of writing this book. Hopefully what is presented in "Innovate to Survive: Balancing Leadership and Innovation" can be useful for all of us. Bengkulu, June 20 2024

Authors

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PREFACE BY PUBLISHER In the business world the more predictable and full challenges, the need of innovative and adaptive strategies becomes something necessity. With proud, we present the book "Innovate to Survive: Balancing Leadership and Innovation " as guide essential for the owner’s entrepreneurs, managers, and makers desired policy develop and maintain superiority competitive they're in the middle fierce market competition. Through work here, readers will invited to explore various concept and methodology strategic that has been tested and proven in help various entity businesses, from MSMEs to company big, deep build solid foundation as well as adapt and evolve in face market and technological changes . Author , with his deep expertise , presents analysis , study cases , and recommendations practical that would be enlightening and motivating every perpetrator business For apply innovative tactics and strategies . We believe that "Innovate to Survive: Balancing Leadership and Innovation" no only A reading , but rather A tool help important that will give outlook valuable and profound about ways face , adapt , and move on thrive in the highly competitive modern business world This . With So , book This worthy become part from library every individuals who are involved in the business world and have aspirations For print sustainable success . Happy read , and hope you get inspiration as well as solution concrete For designing a business strategy that does not only endure but also develop and excel in facing a competitive market . Publisher vi

Innovate to Survive : Balancing Leadership and Innovation

LIST OF CONTENTS PREFACE ................................................................................ iii PUBLISHER'S PREFACE ..................................................... v LIST OF CONTENTS ............................................................ vii Comprehensive SWOT : A 360 Degree View of Business Feasibility Analysis................................................................................ 1 Basic Concepts of SWOT Analysis ............................................ 1 Objectives and benefits SWOT analysis ................................... 1 Studies Case ................................................................................... 2 Internal Analysis (Strengths And Weakness)............................ 3 Weakness Analysis Against Studies Case .................................. 4 Analysis External (Opportunities And Threats) ...................... 4 Analysis of Threats Against Studies Case ................................. 5 Strong Finances, Resilient Business: Financial Strategies for a Feasibility Plan ............................................................................. 7 Sources of Funds .......................................................................... 7 Cost Need Investment ................................................................. 8 Ratio – Ratio Finance ................................................................... 9 Projection Report Profit and loss............................................... 10 Ideas for the Future: Business Feasibility in the Era of Globalization ........................................................................ 12 Understanding Appropriateness Business ................................ 12 Definition Business ...................................................................... 13 Business and the Era of Globalization ...................................... 15 Technology And Business ........................................................... 17 Challenges and Opportunities In the Global Era .................... 20 Smart in Competition: Strategies for Mastering Business Feasibility Studies in a Competitive Era ................................. 22 Define feasibility study ........................................................... 23 Why need intelligent in choosing a strategy for control vii

studies appropriateness business in a competitive era ? ... 24 Business ideas and strategies ................................................. 25 Source opportunity potential business ................................ 25 E- Commerce Explosion : Building Business Viability in the Digital World............................................................................ 28 What is E- Commerce Explosion ........................................... 28 Build Appropriateness Business in the Digital World ......... 29 Aspects Build Appropriateness Business in the Digital World ........................................................................................... 31 E-Commerce Explosion: Building Appropriateness Business in the Digital World .................................................. 33 Simple Start Strategy: Feasibility Guide for StartUps and Small and Medium Enterprises ............................................... 35 StartUp Eligibility Guide .......................................................... 35 Know the Concept of Digital Strategy ................................... 37 Important Ideas Related to Digital Strategy Planning ......... 38 Understanding Information Technology ............................... 39 StartUp Company Concept ...................................................... 40 Sustainable Supply: Improving Business Viability Through Supply Chain Analysis ............................................................. 41 Sustainable Supply ..................................................................... 41 What is Improving Business Viability Through Supply Chain Analysis ............................................................................ 42 Sustainable Supply: Improving Business Viability Through Supply Chain Analysis .............................................. 44 Case study ................................................................................... 47 Revealing the Market: The Critical Role of Market Research in Business Feasibility ............................................. 50 Revealing the Market.................................................................... 50 Aspects Related to the Role of Market Research .................... 52 Business Viability in the World of Finance: Latest Trends viii

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and Strategies ........................................................................... 55 Business Feasibility Study ............................................................ 55 Business Feasibility in the Financial World .............................. 56 Business Strategy in the World of Finance ............................... 58 Managing Sustainability: Challenges and Opportunities in Business Viability......................................... 60 Business Feasibility Concept ....................................................... 60 Business Feasibility Opportunities Through Implications of Market Aspects ......................................................................... 61 Business Viability Challenges ...................................................... 63 Feasibility Study of Creative Content Companies in Bandung City ................................................................................. 65 StartUp Guide : Creating a Promising Feasibility Plan .......... 69 Business Feasibility Plan .............................................................. 69 Business Feasibility Development Strategies and Techniques 71 Business Planning ......................................................................... 74 Data- Driven Decisions : How Big Data is Changing the Game in Business Viability ...................................................... 78 Discussing Big Data ..................................................................... 78 How Data Analysis Can Help Companies Make Business Decisions ........................................................................................ 79 How is data processed and analyzed about customer behavior, competitor performance, or how the market is developing? . 82 Think Big, Start Small: Viability Strategies for Startups and SMEs ................................................................................. 85 Think Big........................................................................................ 85 Start Small ...................................................................................... 86 Think Big, Start Small .................................................................. 86 Business Feasibility Study and Goals ......................................... 87 Approaches and Methods for Business Feasibility Strategy Development .................................................................. 88 ix

Feasibility Study for Star- Up ...................................................... 92 Application of Feasibility Study Results in Startup Business Plans ............................................................................... 94 Feasibility of SME business in tofu making in Lubuk Sahung Village from marketing and production aspects (Case Study) ..................................................................... 95 Marketing Aspect .......................................................................... 95 Production Aspect ........................................................................ 97 Moving Forward with Security: Blockchain Integration in Business Viability ............................................. 100 Stepping Proceed with Security .................................................. 100 Blockchain integration ................................................................. 101 Understanding Blockchain .......................................................... 102 Blockchain Integration ................................................................. 102 Challenges and Considerations ................................................... 102 Blockchain Integration Steps in Business Feasibility .............. 103 The Importance of Blockchain in a Business........................... 103 Talking with Numbers: Reading Business Success Through Financial Reports ..................................................... 106 What That Speak By Numbers ................................................... 106 What That Report Finance.......................................................... 107 Report Finance : Foundation Success Business ....................... 107 Read Success Business Through Report Finance .................... 109 Studies Case : Reading Success Business Through Report Finance ........................................................................................... 112 Financial Balance and Sustainability: Strategies for a Balanced Viability Plan ............................................................................ 115 Draft Balance Finance and Sustainability.................................. 115 Financial Balance .......................................................................... 115 The Relationship Between Finance and Sustainability ........... 116 Importance Balance Finance and Sustainability....................... 117 x

Innovate to Survive : Balancing Leadership and Innovation

Studies Case ................................................................................... 128 Ethical View: Understanding Dilemmas and Opportunities in Business Viability......................................... 130 Understand View Deep Ethical Dilemmas Business .............. 130 Overcoming Dilemma Problems in Business .......................... 131 Understanding Business Opportunities or Opportunities ..... 132 Business Socialization: How Business Feasibility Affects ...... 136 Society and Environment ............................................................ 136 What That Socialization Business .............................................. 136 How Business Viability Affects Society .................................... 139 How Business Viability Affects the Environment .................. 141 Case study ...................................................................................... 142 BIBLIOGRAPHY .................................................................... 145 Writer team............................................................................... 158

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Comprehensive SWOT : A 360 Degree View of Business Feasibility Analysis By: M. Noval Setiawan v Basic Concepts of SWOT Analysis

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SWOT ANALYSIS is a strategic method for evaluating internal and external factors in a project or business, including strengths, weaknesses, opportunities and threats. Argues that SWOT is a method for making an analysis to produce strategy identification for the success of a A. Basic Concept of SWOT Analysis. SWOT analysis is A framework Work strategic use For evaluate internal and external factors that influence performance something entity business. Abbreviation from Strengths, Weaknesses, Opportunities and Threats, SWOT analysis provides holistic understanding of internal and external conditions something organization or situation business. SWOT analysis provides base for business strategy with utilise internal force , minimize weakness , exploit opportunity external , and overcoming possible threat arise . With comprehensive understanding about aspects this , a entity business can formulate more strategies informed and effective For reach success .

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Innovate to Survive : Balancing Leadership and Innovation

v Objectives and benefits SWOT analysis Opinionated that SWOT analysis aims To identify factors external facing business internal and external discipline For generate alternative strategies. Perpetrator business can do analysis canvas model business with the use of deep SWOT analysis development business. SWOT analysis is purposeful For giving a comprehensive understanding of the internal and external conditions of something entity business. SWOT analysis helps identify internal strengths that can exploited and necessary weaknesses repaired in entity business. Highlighting opportunities in the environment that can utilized and identifying possible threat bother success business . With can give a strong foundation for taking decisions strategic with provide more understanding Good about position of relatively entity business in markets and industry . SWOT analysis can become base For formulate more business strategies effective based on strengths possessed and threats faced . SWOT analysis , as tool simple evaluation However strong , giving deep understanding for management in plan strategy and face dynamics business . v Studies Case Description Case Studies case used is studies case in research conducted by (Rizka & Fitriyah, 2023) regarding a well-known home industry company Home Industry Creative Jaya has operated since 2006 to the moment. Focus main company This is For increase income and earn profit through activity production. One of the products from the company Is the sandals that were given brand Desantos. This company specialises in making sandals and also receives orders directly from 2

Innovate to Survive : Balancing Leadership and Innovation

consumer. Sandal products produced by the home industry This for sale through placement in conventional shops as well as through online sales platforms. Internal Analysis (Strengths And Weakness) Strengths Analysis Against Studies Case Superiority refers to the internal or internal aspects of the company that support its growth company in a way effective If existing capabilities are improved. This is a mark plus for the company. Factors excellence in Home Industry Creative Jaya is as follows: 1. Quality superior product: Quality good product is very crucial. Quality sandal products in the home industry This supported by the experience of craftsmen who have been involved in the industry for a long time the. With good quality, the product will still interest consumers. 2. Availability of material easy standard: Proximity with supplier material standard influences stock material standard. Close location with supplier makes purchasing material standard become more easy. 3. Customer loyalty: Having consistent consumers is a dream for every owner business. Quality: Good product, which will interest consumers To become customer loyal and helpful in guarding sustainability business. 4. Good relationship with supplier material standard: A relationship based on trust possible owner business For owe before have money for buy material standard. 5. Source Power Quality people: HR is very important in operating a business. Home Sandal Industry Creative Jaya has skilled workers who make quality sandals that are tall. 3

Innovate to Survive : Balancing Leadership and Innovation

Weakness Analysis Against Studies Case Circumstances or factors in something the organisation that gave rise to it limits and can obstruct achievement objective organization the known as weakness . Factors weaknesses in the Home Industry Creative Jaya is as following : 1. Limitations : Capital becomes key main For developing business units . Small and medium businesses generally relies on limited capital from owner business . 2. Machinery and equipment simple : Home Industry of these sandals Still depend on power man Because limitations equipment still simple . Owner business No own more technology advanced Because capital limitations . 3. Place production that is not adequate : Place production only use available space . Limitations land cause environment Work become not enough comfortable . 4. Lack power work : Many craftsmen are switching to another sector after finish school , make owner business difficulty look for worker . 5. Lack of activity Promotion : Lack promotion cause lack of knowledge public about Home Industry Jaya Creative . Analysis External (Opportunities And Threats) Opportunities Against Studies Case Opportunity refers to factors external or from outside companies that can give profitable opportunity for company . Opportunity This Can become base for more development Good if can utilized in a way effective . Factors opportunities in Home Industry Creative Jaya is as following : 4

Innovate to Survive : Balancing Leadership and Innovation

1. Ability innovation and following trend : Home industry Creative Jaya is necessary innovate so that the product still competitive in the market . 2. Utilization advanced technology : Adoption modern technology , fine in the production process nor marketing via the internet or electronic platforms others , yes become a must opportunity utilized For increase sale . 3. Support financing from government : Programs such as KUR from Bank BRI are possible opportunity utilized home owner of the sandal industry for development his business without burden interest and fees burdensome administration . 4. Large market potential: Identification need consumer in a way deep will possible company to present suitable product with market needs . 5. Growth-increasing population: This become good opportunity for sandal entrepreneurs for provide various appropriate type of sandals with need consumers from various range age. Analysis of Threats Against Studies Case Threat refers to external circumstances that have the potency to threaten and obstruct the development of A company or organisation. Potential factors threatening Home Industry Creative Jaya is as follows: 1. Appearance competitor new with price below market: Rapidly appearing competitor new create entrepreneurs must face competition prices that are increasing tight, that's clear is a threat. 2. Fluctuation price material standard: Increase price material standard This is not always reflected in the increased price of 5

Innovate to Survive : Balancing Leadership and Innovation

sell products they. Therefore That's it, businessmen need to design the right strategy To stay in the middle of uncertainty. 3. Change fast in appetite consumer: Change pattern and style life fast society possible sandal entrepreneur for anticipating change appetite consumer. 4. Competitor with famous sandal brands: Competition mainly originates from foreign sandal products that use modern technology to produce product quality tall with price. 5. Ability to competitor For copy design Products: There is potential for competitors For copy design products from the home industry.

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Strong Finances, Resilient Business: Financial Strategies for a Feasibility Plan By : Ghaefira Nur Fatimah

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Strong income is the main foundation for the sustainability and success of a business. In the context of a business feasibility plan, financial strategy plays a key role to ensure that the company has a strong financial foundation . This strategy involves intelligent management of financial resources, including budget planning, efficient allocation of funds, and careful risk management. A resilient business is not only able to meet daily operational needs, but also has the ability to adapt to market and economic changes. By implementing the right financial strategies, companies can increase their financial resilience, reduce the risk of failure, and create a strong foundation for long-term growth. A business feasibility plan backed by strong financials not only provides confidence to business owners and investors, but also allows companies to respond to new opportunities with more agility, making them more competitive in a dynamic market. v Sources of Funds Funding is a crucial factor in starting a business or venture. Having appropriate funding is very important to maintain the smooth operations of a business. Sources of funding can come from within the company or from outside parties in the form of loans. Determining the exact funding requirements is very important, as this will reflect the best way to fund the business, whether through its own capital, loans, or a combination of both, to achieve the most economically profitable results. 7

Innovate to Survive : Balancing Leadership and Innovation

Sources of funds that can be used to achieve a business feasibility plan include personal capital, banks, government, external investors, capital markets, marketing, purchasing and financing. Personal capital is obtained from business owners or private investors, while the bank will review the business feasibility study that has been made and provide funds for the business. The government can provide funds in the form of subsidies, taxes or scholarships. External investors can provide funds from the capital market, such as contractors, buyers or marketers. Marketing can provide funds from the sale of products or services, while purchasing can provide funds from the purchase of fixed assets, such as land, buildings, factories and machinery. Financing can provide funds from bank credit, nonbank credit, or credit from investors. v Cost Need Investment Cost need investment is one of the aspect crucial that must be noticed in plan appropriateness business . Need investment covers all necessary costs For start , develop , and run business . This matter involve investment in assets physical , technological , resource Power humans , and everything things necessary for business can operate in a way efficient and successful . Clear understanding to cost need investment is very important Because can influence continuity business and profitability in period long . In phase planning business , identification and estimation cost need investment is step crucial start . This covers procurement of capital for purchase asset still like buildings , equipment , and technology . Election method Proper financing is also necessary considered For ensure that need investment can fulfilled without burdensome finance company in a way excessive . Besides that , costs need investment also includes source Power humans , incl cost recruiting , training , and salaries employee . Readiness source Power adequate 8

Innovate to Survive : Balancing Leadership and Innovation

human beings are essential For operating an operational business with effective. Investing in a skilled and trained team can increase productivity and contribute positively to the growth of business. Important For consider cost need investment in the period more time long. This covers the cost of operational daily maintenance and repair assets, as well as working capital requirements. Accurate calculation of cost This helps ensure that the company has continuity finances or does not experience excessive pressure finances. Finally, monitoring and evaluation continuously to cost need investment need done To adapt to changes in market conditions, technology, or regulations. Flexibility in adjustment plan investment can become a key success in facing the dynamics of continued business change. With notice in a way that is careful and proactive regarding the cost needed for investment, the company can minimise risk finance and improve opportunities for reaching a long success period. v Ratio – Ratio Finance Ratio finance holds a key role in plan appropriateness business, providing tool important evaluation For measuring and analyze health financial something company. First of all, ratio liquidity, like ratio fluent, gives a description of the ability company To fulfil the obligation period in short. Ratio This helps in evaluating is company's own Enough liquidity To overcome obligations daily and maintain operational continuity. Next, ratio profitability, such as the ratio of profit clean to sales, becomes an indicator performance finance company. Ratio This gives an understanding of to what extent the company is capable of producing profit clean from sales, which is important For evaluate efficiency operational and power competitive.

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Innovate to Survive : Balancing Leadership and Innovation

Debt-to-ratio equity is the relevant parameter when evaluating a debtlevel company. This reflects to what extent the company depends on debt to fund the operation. Understanding deep about debt levels can help in managing risk finances and ensuring a healthy capital structure. -The turnover ratio, such as ratio replacement supply or ratio replacement receivable, gives an outlook on the efficiency management of the asset company. Good management of assets can increase cash flow and optimise the use of source Power. Lastly, ratio growth, like ratio growth sale or profit clean, yes, gives a description of the performance period of the company. Monitoring growth is important for identifying positive or negative trends that can influence future business strategy. With understanding and utilising ratio finance, the company can make more financial decisions that are informational and strategic. Analysis ratio gives a description holistic of the finance company, helping stakeholders interest in identify strengths, weaknesses, opportunities, and possible threats faced by the business. Therefore , integration ratio finance in a plan-appropriate business becomes important for reaching sustainability and success in an environment-dynamic business. v Projection Report Profit and loss Projection report profit make a loss is element key in plan appropriateness business that delivers description about performance financial something company in period time certain. First of all, projection This details the expected income from the sale of a product or service company. In context, plan appropriateness business; projection report profit make a loss often includes period a number of year to front, possible company For planning and measuring 10

Innovate to Survive : Balancing Leadership and Innovation

growth income in a way proactive. Next, the company's associated operational costs are also explained in the projection report, which shows that profit makes a loss. This covers the cost of production, costs of power work, costs of marketing, and other relevant ones with activity business. Projection This possible company To identify point break-even and evaluate the expected profit margin. In context projection report profit loss, important To notice nonoperational elements that can influence the performance financial company. For example, capital expenditure for investment big or expenditure not expected must taken into account To ensure realistic projections. Monitoring and repairing continuously to project report profit make a loss required along walking time. Changes in market conditions, competition, or change in regulations can influence projection finance companies. Therefore that is, flexibility in adapting projections is very important for companies can respond in a way adaptive to the dynamic environment of business. Lastly, projections report profit a loss to help the company Design management strategies for risk and planning finance period long. With understand in a way deep estimation of income and expenses, the company can identify potency risk financial and take steps prevention or appropriate mitigation . With Thus , projection report profit make a loss become instrument important in ensure sustainability and success business in period long .

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Ideas for the Future: Business Feasibility in the Era of Globalization By: Leo Aprianto

v Understanding Appropriateness Business

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Feasibility means that research is carried out in depth with the aim of finding out whether you will get greater benefits compared to the costs that will be incurred in running the business. Appropriateness can interpreted that business carried out will give profit financial and non-financial in accordance with their goals want . Worthy in the matter this is also intended will give profit to various stakeholders Good That running companies , investors , creditors , governments nor public wide . Business own understanding that is business carried out with a purpose mainly For obtain profit . Intended benefits in company business is profit financial . However , in a number of practice Nonprofit companies will too obtain profit No only financial but also non-financial . Appropriateness business must seen from various existing aspects . At each aspect This own standard separately . Standard from one aspect This No can determine direct appropriateness something business . However must based from whole various aspects so that you can assessed later . In business services and business non-service own size The suitability of each is very different . Like business animal husbandry and education nor like hotel establishment and opening plantation palm 12

Innovate to Survive : Balancing Leadership and Innovation

oil . Although So , the aspects used in state something appropriateness business will still The same . Definition Business In Dictionary Big Indonesian (KBBI) business is business commercial in the world of trade ; field business ; business trade . Business or trading is activity sell buy goods and services with objective obtain profit . In knowledge economics , business is selling organization goods and services to consumer or other business for get profit . By Historically , the word " business " originates from the word language English "business", originating from the root of the word "busy", which means " busy " in context individual , community , or social . In other words, they are Busy with activities and tasks that bring profit . In economy capitalist , where part big business owned by the company private , business established For produce profit or profit and increase riches owner or holder the shares . Good owner business nor employee given compensation in accordance with their time , energy , or capital give . However No all company chase profit as big as That . For example cooperative who want increase wellbeing all over its members , or organization the government wants it increase well-being its people . Business model This different with system socialist , where business big part big owned by the government , authority public , or union worker . Experts also joined in define business , like a expert named Raymond E. Glos He say " Business is all over activities organized by people involved in field commerce and industry that provides goods and services For need maintain and improve standard as well as quality life they ". 13

Innovate to Survive : Balancing Leadership and Innovation

The experts in the following countries This give definition business according to her : 1. Mahmoud Makhfouz According to Mahmoud Makhfouz , business is something activity commercial activities carried out by an organized group of people For obtain profit through production and sales goods and services . The goal For fulfil need consumer . 2. Bukhari Alma Business is various moving business in production and marketing goods / services to consumers , like agriculture , manufacturing , communications , construction , distribution , transportation , companies services , government . With objective get profit . 3. Kasmil and Jagfar According to Kasmil and Jagfar , business is something business carried out with objective main obtain profit . Whereas definition business according to experts abroad is as following : 1. Richard D Steade and James R Lowry Business is series activities performed For create something with develop various source power and change it become desired goods and services consumer . 2. RD Brown and GJ Petrello According to Brown and Pretello , the economy No only something mechanism Where public can produce their goods and services necessary , but also a system Where government and sector private can carry out various possible projects done or No carried out by society, business This produce everything including.Is This profitable ? 14

Innovate to Survive : Balancing Leadership and Innovation

3. Tonya Skinner According to Skinner, business is exchange mutual goods , services , or money profitable that produces profit . 4. Steinord According to Steinford , understanding business covers all activities that provide goods and services needed consumer . 5. Ronald J Ebert and Ricky W Griffin Evert and Griffin argue that business is something activities that provide goods / services needed and desired by consumers and society . 6. L.R. Dicksee Business is something form purposeful activities mainly is produce profit for people who do activity That or for interested people towards him . 7. William Spregal Business means all related activities with production and sales goods or services available classified as activity business . 8. Verron A Musselman and John H Jackson They define that business is all activity organized by people in the field industrial and commercial that provides services and goods For fulfil needs and improve quality life . 9. Mc Naugthon Definition business according to Mc Naughthon is exchange goods , money, or service For each other profitable . 10. Lewis H Haney According to Haney, business is an activity related humans with production or acquisition riches through buying and selling goods .

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Innovate to Survive : Balancing Leadership and Innovation

Business and the Era of Globalization Business and globalization related tightly . In the era of globalization No only technology is evolving , however so does the economy , business , society , culture , and many Again . Developments of this era developing the business world and many factor affecting development business . With exists globalization , we must know that moment This every activity need advanced technology . As well as business . Moment this , every business Lots using sophisticated media like the Internet for expand network and improve profit . Through globalization business can expand the network , even until level international . Much more impact positive results with exists globalization for the business world This . One of them is convenience for the perpetrators business For promote his business and looking for consumers , zoom out capital expenditure due Lots thing that can be handled through success globalization This . Here can We pull conclusion that linkages between business with globalization very strong especially technology . Technology plays a big role important in life people and business naturally . In the midst of the era of globalization business the more develop together sophistication technology . Along walking globalization , everything activity company utilise appropriate technology and sophistication with current development . And so it's more easy do it , when it's 70% of the job man supported by technology through more machines and equipment advanced .

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Innovate to Survive : Balancing Leadership and Innovation

Globalization era is an era where all over activity man connected with technology . Moment This seller Meatball identical with selling on motorbikes and vehicles others , incl application . This is example small How all something become economical moment This . Therefore that , along walking time , competition the more tight , and in the era of globalization happen competition For utilise existing equipment For reach various objective . One of them is business . Business This Lots interested public general Because Lots advantages and convenience the workmanship blessing sophisticated equipment . Suddenly , a lot interested people who jump in and join as well as in activity business . Technology And Business Connection between technology and activities business as well as impact globalization and change technology towards the business world . Technology is development and use tools , machines , materials , and processes that help people solve problem . Technology says often refers to the discovery and the tools that utilize it principles and processes of discovery scientific latest . However a very old invention like wheel Can called technology . Another definition ( used in knowledge economics ) is circumstances knowledge We about How combine source Power For produce desired product ( and knowledge We about what can produced ), ie technology that can used . Therefore that , along increase knowledge technical We will can recognize change technology . Because there are so many technology in this world , then its implementation divided become field current technology This Lots used , like technology communication , technology nuclear , 17

Innovate to Survive : Balancing Leadership and Innovation

technology computers , biotechnology , technology medicine , technology medicine , etc. Lots of technology other . Because technology is a common word and in it there is Lots type different fields . In context characteristic general technology , activities business have very close relationship . All technology required For operation business . Technology very important for activity company . This Because more fast , safe and easy do various transaction . Business world need technology sophisticated as can be support all activity between consumers and producers. Partly big activity business need technology advanced . The reason is technology This in a way automatic carry out the process of expiation change with fast and not eat Lots time . Like known , the economy the world has experience change fast during two decade final . Global economy in general whole currently experience rapid change Because exists underlying factors. Factor First is globalization , growth trade and competition around the world . Impact explosive from international means that No there are countries that can still isolated from current global economy This . If a country continues try close the market to competition foreigners , residents will pay more For product quality in the country more low Because limited alternative . However , if open the market , the country will face Fierce competition , that's for sure will stimulate management company domestically efficient and effective . Factor second is change and progress technology . It's very fast . Moment here , some expert say thereby The world population is in the “ post ” phase industry ” with development very dramatic technology .

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Innovate to Survive : Balancing Leadership and Innovation

What are some year Then considered as invention new , now Possible considered outdated . Development of the Internet and business related also provide increasing impact significant to activity daily public in a number of year final . you can accept information quick with that communication easy. Decade This has bring progress outside normal in availability information , speed communication , new materials , and magic biogenetics , medicine , and electronics . Progress technology computers , telephones , and televisions have impact big to method company make and sell the product.Because technology has provide new and more food , clothing , shelter , transportation and entertainment various.Distance geographical and cultural has reduce with appearance airplane , engine fax , line telephone , global computer and broadcast television , as well satellite . Progress This has direct company For understand that the nature of the market does not Again limited to space and time . In fact , no only activity business only those who need it service technology advanced For makes it easier all his activities . All activity man supported by technology high , realized or No . This matter Because sometimes We No realize that What is We use and do That based on technology high , however Because Already used to so everything we are do based on technology tall . It means No felt punished . Therefore that , in the current era here , source Power human resources (HR) required must always trained and skilled tall . Especially Competition in this era is very tight , and we are also in the era of globalization . Therefore that is , people who live in the current era This must Spirit draw science and own level higher education . Remember the reasons above , actually connection between Technology and business are very close , especially in the era of globalization We need tools advanced technology and tools the is 19

Innovate to Survive : Balancing Leadership and Innovation

tools that support business processes . And through system sophisticated information ( technology ) , can endure in competition in the era of globalization and competition with Lots company others who use it the same tool sophistication and systems sophisticated information . This is the key . Globalization and technology has facilitate selection nature , so resulting in "survival of the fittest". success market Obtained from capable company adapt with need environment moment this , that is find method For create goods and services that create market value , that is desire For buying by individuals , companies , cities , even the whole country. Challenges and Opportunities In the Global Era Globalization No only bring Lots opportunity for company international , but also brings a must challenge faced by business people . This chapter discuss challenges faced by the business people in the global era, impact change social , political and environmental to business international , as well opportunity global businesses such as emerging markets and e-commerce. Challenges faced by perpetrators business in the global era. Competition in the global market is increasing strict demand company For Keep going innovate and improve efficiency production . Every country has the regulations are complex and varied , so need understanding that strength and ability adapt from the perpetrators economy . Risk crisis economics and politics can influence stability company Investment . Problem social like problem security cyber , rights basic 20

Innovate to Survive : Balancing Leadership and Innovation

humans , change climate , etc. that can be influence image company and performance company problem physical and environmental . Opportunity global businesses such as emerging markets and ecommerce. Globalization also brings opportunity for business international . Opportunity global business that can used by business people among others: 1. Emerging markets or develop such as Southeast Asia, Africa and Latin America markets with potency growth high economy 2. E-commerce with experience reach growth fast so that more suitable and appropriate For company international . Providing an efficient market For accessed . 3. Develop products and services innovative which fulfills increasingly global market needs diverse and complex . 4. Influence change social , political and environmental issues in business international . Change social , political and environmental can impact on business international and creating challenge as well as opportunity . Example impact change the among others: •

Change policy trade and investment government can influence market access and competition business .

•

Change trend social influences the company and its image , such as enhancement awareness environment and social Consumption .

•

Change technology and innovation that can impact on the way We do business and create opportunity new on the market.

•

In face challenge and exploit opportunity in the global era, the perpetrators business need own strong abilities and knowledge in adapt and innovate , as well own deep 21

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understanding about change social , political and environmental in business international .

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Smart in Competition: Strategies for Mastering Business Feasibility Studies in a Competitive Era By: Desven Sulaiman

G

LOBALIZATION has changed various business paradigms and made market flows freer, resulting in increased business competition between companies. Competitive advantage is needed to compete, satisfy consumers, and generate high profits . This can arise from product quality, service, price, or other aspects that cause consumers to choose and remain loyal to a company 's goods and services. Competitive advantage must be achieved by all companies so that they are not eroded by the dynamics of business change . One way is through innovation. Innovation is not a goal, but a process of continuous adaptation to dynamic consumer needs. For a company, innovation can be seen as a product that is needed to maintain the company's processes. Innovation is based on an approach to resources that is positioned as the basis for achieving excellence. Innovation is real work that can and should be managed like any other company function. Innovation is a phenomenon that is completely dependent on human control. Even though it starts from creative thoughts and ideas, these thoughts and ideas must be able to be transformed effectively. Innovation can and should be managed because it is a phenomenon that can be controlled. Therefore, innovation management is needed, an effort that guides companies to produce innovative products and market them at the right time. 23

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Success in innovation management is directly proportional to the company's ability to stand out in the face of intense competition. Many argue that innovation is an absolute requirement amidst intense competition, uncertainty and high complexity. If a problem arises, we should solve it or solve it together. Companies must develop various new applications of technology, products and services based on existing resources and facilitating external factors. Define feasibility study The definition of a business or business feasibility study covers various aspects including legal, socio-economic and cultural aspects, market and marketing aspects, technical and technical aspects to managerial and financial aspects, it is a study and all of it is used as the basis for research. Feasibility studies and their results are used to determine whether a project or business can be implemented, postponed, or not implemented at all. Considering the uncertainty of future conditions, it is necessary to make certain considerations when setting up a business, and these considerations are based on various factors related to the feasibility of running a business, which originate from consideration of aspects. The results are not research, but are used to decide whether the project or company should be continued, postponed, or even cancelled. The above shows that a feasibility study involves many different teams of experts, each according to their field of expertise or aspect. Examples: economists, legal experts, psychologists, accountants, technical engineers, etc. Therefore, the definition of a business feasibility study is a study that concerns various aspects including legal, socio-economic and cultural aspects, market and marketing aspects, 24

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technical and technological aspects. Everything from aspects to management and financial aspects are used as the basis for research studies. Feasibility and results are used to determine whether a project or company can be implemented, postponed, or not implemented at all. Why need intelligent in choosing a strategy for control studies appropriateness business in a competitive era ? Order study appropriateness business can survive in the era of competitive competition , then required choosing a wise strategy , because the strategy is not effective can lower strategy effectiveness and in turn influence achievement objective company.In the era of competition , companies need consider different trends and all emerging trends . Besides that is , the implementation of the chosen strategy need through various analysis processes alternative.In choosing a strategy, company must consider various aspect like : Superiority competitive , right target market , appropriate price , quality products and services , efficiency operational , effectiveness marketing , loyalty customers , productivity employees , innovation products and services . If the strategy is chosen No successful , then company will difficult reach desired goal . 1. In the Industrial Era 4.0, companies must apply three strategies: Improvement quality source Power human (HR). 2. Strengthening network company 3. Use technology appropriate To use . 25

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With implementing this strategy , the company can overcome consideration commercialization in an era of competition . Business ideas and strategies Plan in make A business Can just appear in a way suddenly (idea) through observation and experience , or through careful planning . Ideas for make product or service new appears frequently in .Idea format it's not A opportunities and not will appear except entrepreneurs Keep going evaluate and monitor it. Lots of ideas really original , however part big opportunity appear when entrepreneur take perspective new to old ideas. Source opportunity potential business 1. Creation various product new : idea generation , idea selection , development concept , and testing , marketing strategy , analysis business , development product , market testing , commercialization . 2. Staring Door Opportunities : Several situation can create opportunity . Product new must quick marketed and in period relative time short . •

Loss technical must low .

•

If your competitors are lacking active in develop its product strategy .

•

Competitor No own technology advanced .

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•

Competitors since beginning No have a strategy that pays attention position the market .

•

New company have skills and resources Power For produce product new .

3. Analyze products and processes in detail: Analysis This important For create good opportunity For operate your company effective and efficient , including : •

Analysis existing and existing products and services There is . Analyze market areas where you can give profitable service . Access to needs and desires consumer moment this and potential in the various market areas served . Analyze ability organization For respond request consumer based on full sell . Mobilize source Power organization For fulfil need consumer .

• • • •

4. Learn Risk and calculation Risk Moment count risk , things following must remember : •

Create mark for customer .

•

Select the market in which we are can outperform competitor We .

•

Enhancement sustained in position presents a moving target for competitors . 27

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•

Utilise innovation , quality and savings cost .

The ideas that we apply will create opportunity business Because opportunity business Actually is around us and many type decent business For executed . However reach opportunity business need courage , outlook to future , and creativity entrepreneurship , as well need correct understanding about need community consumer . With strategy selector for do proof concept in competitive times very important because of the right business strategy help company obtain superiority competitive.Pg This can create element unique that differentiates something company with competitors , such as : Innovation , improvement quality , reduction cost , increase quality source Power human , strengthening network effort , and utilization technology appropriate use. Apart from That , choosing the right business strategy will also help company reach profit maximum business . With so choosing a wise and appropriate business strategy in an era of competition very important for success something company .

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E- Commerce Explosion : Building Business Viability in the Digital World By: Dimas Permana What is E- Commerce Explosion

E

-Commerce Explosion refers to the rapid and phenomenal growth in the e- commerce sector . This term describes a significant surge in e-commerce activity, where businesses and consumers are increasingly turning to transacting online . There are several factors that can cause "E- Commerce Explosion ": 1. Adoption Technology : Development technology , especially the internet and mobile devices , makes it possible more access easy to e-commerce platforms. 2. Change Behavior Consumer : a. Consumer the more comfortable and trusting For shop by online. b. Deployment understanding about security online transactions have increase trust consumer . 3. Convenience Access : The e-commerce platform provides convenience access to various products and services from various location geographic . 4. Innovation Payment : Innovation in system online payments , incl card credits , digital wallets and methods payment others , create transaction become more fluent . 5. Pandemic and Lifestyle Changes :

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The COVID-19 pandemic pushed increase in e-commerce due to restrictions physicality and change behavior shopping consumer . 6. Enhancement Security and Trust : Development security online transactions and data protection have increase ibelief consumer icon towards ecommerce. 7. Marketing Strategy : Companies are increasingly adopting digital marketing strategies , incl online clans and social media marketing , for increase visibility and attractiveness customer . 8. Globalization Trading : E-commerce makes it possible company For penetrate the global market without limitation geographically significant . E-Commerce Explosion" created opportunities and challenges new for perpetrator business , good big nor small . Build strong online presence and adapting business strategies with fast become key For take benefit from growth this . Build Appropriateness Business in the Digital World Build appropriateness business in the digital world involves a number step key For ensure success and growth . Following is a number of Steps you can take : 1. Understand the Market and Message Customer : a. Do market research for understand needs and preferences customer . b. Identification competitors and search a gap in the market that you can fill . 2. Determine the Business Model :

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a.

3.

4.

5.

6.

7.

Choose a suitable business model with product or your services ( for example , sales direct , subscription , online marketplace). b. Determine competitive and profitable prices . Create an Effective Website : a. Responsive website design , easy navigated , and loaded with fast . b. Make sure the appearance and content of the site reflects brand you with clear . Optimize For Machine Searcher (SEO): a. Use relevant keywords in content and description product For increase ranking search . b. Consider For create a blog or content as informative as possible interesting customers and improve visibility of your site. Marketing : a. Use istrategy digital marketing , such as online advertising , social media marketing , and email campaigns . b. Consider Work The same with influencers or Work The same with partners who can help promote iyour business . Management Efficient Inventory : a. Apply system management good inventory For avoid lack or excess supply . b. Use device soft or the e-commerce platform that provides tool management effective inventory . Focus on Experience Customer : a. Prioritize experience good customer service , including easy purchasing process , support responsive customers , and policies clear returns . 31

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b.

Take note bait come back customer and pick up action For increase service . 8. Security and Privacy : a. Make sure your website is secure and equipped with SSL certificate . b. Give clear information about policy privacy and data protection . 9. Driven Analysis and Decision Making : a. Use data analysis for understand behavior customers , trends sales , and effectiveness of marketing strategies . b. For decision business based on the data and evidence obtained . 10. Adaptation to Change : a. Always Ready For adapt with market changes , technology and trends consumer . b. Keep watching performance your business and do it adjustment If required . Build appropriateness business in the digital world requires combination of effective marketing strategies , management operational excellence , and a strong focus on satisfaction customer . Success iDigital business usually involve effort sustainability and engagement active in manage and improve your business together time .

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Aspects Build Appropriateness Business in the Digital World In build an appropriateness business in the digital world, there are a number of aspect important thing to do note : 1. Strong Online Presence : Having a responsive website is easy navigable , and social media active is key For reach digital consumers . 2. Content Strategy : Informative , interesting and relevant content can interesting target market attention as well increase brand awareness and loyalty. 3. Optimization Machine Searcher (SEO): Implement effective SEO strategies will increase online visibility of your business , making it more easy discovered by customers potential . 4. Digital Marketing and Advertising : Using digital marketing and advertising platforms paid For reach more audience broad and specific . 5. Analytics : Monitor and analyze data from websites and social media For understand behavior consumers and optimize marketing strategies . 6. Security Cyber : Confirm the security of customer data and your online business is factor important For build trust customer . 7. Experience User : Provide experience good user online via good web design , convenience navigation , and response fast to question or complaint . 8. Flexible Business Model : Capabilities For adapt with market and technological changes are essential in an ever- digital world develop .

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9. Technology Integration : Leveraging technology latest such as AI, machine learning, and blockchain for efficiency , personalization , and innovation product or service . 10. Involvement Community : Building and managing active online community can increase attachment customers and create opportunity marketing from mouth to mouth . Focus on aspects This can help business No only endure but also thrive in a competitive digital environment . E-Commerce Explosion: Building Appropriateness Business in the Digital World E-Commerce Explosion refers to growth fast e-commerce business , which has change method company do business in the digital era. For build appropriateness business in context this , company need understand and utilize a number of aspect important : 1. Digital Platform: Selecting a suitable and capable e-commerce platform reliable For display and sell product or service . this platform must user-friendly and supportive experience seamless shopping for customer . 2. Marketing Strategy : Developing an effective digital marketing strategy , incl use of social media , marketing content , SEO (Search Engine Optimization), and PPC (Pay-Per-Click) advertising for attract and retain customer . 3. Analysis : Leveraging customer and market data to make based decisions information . E- commerce analytics can help understand behavior customers , trends purchases , and patterns traffic , which is important For optimization offers and upgrades sale .

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4. Security and Privacy : Ensure security online transactions and customer data protection . This including implementation protocol security like SSL encryption and regulatory compliance privacy like GDPR in Europe . 5. Experience Customer : Provide experience superior online shopping , incl easy website navigation , smooth payment process , choice flexible logistics , and service responsive customers . 6. Adaptation and Innovation : Continue to adapt with change technology and preferences consumer . Innovation can covers introduction technology new such as AI (Artificial Intelligence) for personalization , or AR (Augmented Reality) for enrich experience shopping . Understand and implement aspects the in a way strategic will help company No only endure but also growing in highly competitive ecommerce landscape .

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Simple Start Strategy: Feasibility Guide for StartUps and Small and Medium Enterprises By : Nurjulya Ningsih StartUp Eligibility Guide

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imple tart is an approach designed for startups and small and medium businesses with the aim of making it easier for them to navigate the start of their business journey. It is based on the principle of starting with small, manageable steps, ensuring that the foundations of the business are properly built before taking bigger steps. Here are some key aspects of this strategy: 1. Idea Validation Before launching, it is important for startups to validate their idea. This involves checking whether there is demand for the products or services they offer. Tools such as customer surveys, market analysis, and MVP (Minimum Viable) models Product ) is very helpful at this stage. 2. Focus on the Core Business Newly established businesses must focus on their core business and avoid deviating too far. This helps in allocating resources in the most effective manner and ensures that the team is not burdened with unnecessary responsibilities in the initial stages. 3. Wise Financial Management It's important to start with a solid understanding of financial management. This includes an understanding of cash flow, budgeting, and adjusted expenses. The priority should be on efficient spending rather than excessive spending. 36

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4. Team Building Building a team that is dedicated and aligned with the business vision is key. In the early stages, it is important to have team members who are flexible and can take on various roles. 5. Marketing and Branding Effective marketing is very important, especially in today's highly competitive business world. Startups must develop a solid marketing plan and be consistent in branding to build awareness and credibility. 6. Iterate Based on Feedback Receiving and implementing feedback is vital in improving a product or service. The Simple Start Strategy advocates always listening to customers and creating iterations based on their feedback. 7. Lean Approach Adopting a lean approach in all aspects of business from product development to resource management optimizes efficiency and reduces waste. 8. Readiness to Scale Even though the beginnings may start modestly, it is important for businesses to plan for scale. This includes having infrastructure, processes, and a plan for growth. By following these principles, startups and small to medium businesses can reduce the risks associated with launching a new 37

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business and put themselves on a more stable and sustainable path to success. The "Simple Start" strategy emphasizes the importance of acting cautiously but aiming for sustainable growth . Explosion refers to the rapid and phenomenal growth in the e- commerce sector . This term describes a significant surge in e-commerce activity, where businesses and consumers are increasingly turning to transacting online . There are several factors that can cause "E- Commerce Explosion ": Know the Concept of Digital Strategy Digital strategy is a term used to describe a plan for an organization that is implemented by using digital resources to generate unique value. There are many focuses and goals in digital strategy planning. by prioritizing changes to products, processes and organizational aspects in response to new technological developments. Digital strategic planning brings about fundamental changes in the way businesses are run, such as sensors in elevators, agricultural equipment that collects big data for analysis, and the provision of other creative services. Digital strategy helps businesses achieve profits and become more competitive by optimizing information systems and information technology. The process of creating a digital strategy consists of two main components: information systems strategy and information technology strategy. Digital strategy focuses on organizational and business elements that impact digital technology. The concept of digital strategy is a combination of management strategy and information systems. This shows the integration between business strategy and information technology, where the role 38

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distinction between IT strategy and business strategy is eliminated , allowing the utilization of creating competitive advantages through internal IT. By considering various definitions, it can be concluded that digital strategy planning is creating a strategy that combines business strategy with digital strategy with the aim of increasing competitiveness and achieving the company's vision, mission and goals. Important Ideas Related to Digital Strategy Planning 1. Design Thinking A matching approach uses the designer's intuition to meet user needs with technology that fits the business strategy and can generate customer value and business opportunities.

Figure 1. Design Thinking Process In the design thinking approach, here are the steps: a. Empathize with designers by understanding their wants and needs. This can be achieved using methods such as surveys or face-to-face interviews. b. Define 39

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Determine that once designers achieve an understanding of user needs, they can articulate ideas and concepts related to the application they will create. This involves creating a list of user needs and evaluating the company's current state. c. Ideate Designers need to produce solutions to meet user needs and have the ability to carry out evaluations with the design team to develop concepts and ideas further. d. Prototype Products or applications that can be tested must be created from ideas and concepts that have already been created. e. Testing Tested applications or products are handed over to users to get their feedback. This process allows evaluation and necessary improvements based on user response. Understanding Information Technology Information technology as a collection of tools that help people work with information and solve tasks related to information processing. Information technology, specifically, includes technologies that include hardware, software, and telecommunications networks. It includes various devices such as computers, sensors, cables, satellites, servers, routers , phones, tablets, and all kinds of software, such as operating systems, data management, enterprise applications, as well as social applications and personal productivity tools. Based on this definition, information technology can be defined as a collection of tools consisting of telecommunications networks,

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software, hardware and software used to carry out tasks related to data processing. StartUp Company Concept Startups are companies founded by individuals to create something new in a situation of uncertainty and uncertainty. There is no relationship between this definition and the size of a particular company or industry sector; the most important thing is the desire to build a business when we don't know what we don't know . There is another opinion that a startup is a company that has designs for rapid growth. The importance is not in the technology sector or funding sources from investors, but in the company's ability to develop quickly, where all aspects related to startups will follow this progress. By summarizing Taking these definitions into account, a startup is a type of business that can develop quickly in uncertain circumstances. They focus on creating innovative products or services and often rely on Information Systems/Information Technology in their business operations.

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Sustainable Supply: Improving Business Viability Through Supply Chain Analysis By: Juita Helfiliani Sustainable Supply

S

ustainable supply refers to the concept where resources, raw materials, or services can be obtained and maintained over the long term without damaging the environment or exceeding natural capacity. In a business context, sustainable supply involves sustainability principles aimed at ensuring that production processes and supply chains not only meet current needs but also do not harm the ability of future generations to meet their needs. Some of the characteristics and principles associated with sustainable supply include: 1. Energy and Raw Material Efficiency: Reduce energy and raw material use by increasing efficiency in production and distribution processes. 2. Responsible Use of Resources: Select raw materials and resources obtained in a responsible manner, for example, from suppliers who practice sustainable farming practices or responsible use of natural resources. 3. Waste and Pollution Reduction: Adopt strategies to reduce waste and environmental pollution throughout the entire product life cycle, from production to disposal. 4. Sustainable Economic Growth:

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Building a business model that is economically sustainable, generating profits that are not only short term but also long term. 5. Resilient Supply Chain: Build a supply chain that is resilient and responsive to market, environmental and regulatory changes. 6. Innovation and Clean Technology: Adopt clean technology and innovation that supports sustainable business practices. 7. Transparency and Responsibility: Increase transparency in supply chains and take responsibility for the social and environmental impacts of business activities. Sustainable supply is not only related to environmental sustainability but also includes social and economic aspects. Businesses that prioritize sustainable supply seek to create long-term value, minimize environmental and social risks, and strengthen their position in the market through sustainability. What is Improving Business Viability Through Supply Chain Analysis Improving business viability through supply chain analysis is a strategic approach to improving business operations and sustainability with a focus on the entire supply chain. The supply chain includes all steps from raw material suppliers to the final product produced and distributed to customers. Supply chain analysis involves a deep understanding of each element in the supply chain and identifying areas where improvements can be made to increase efficiency, flexibility and business sustainability. 43

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Following are some of the key aspects involved in improving business viability through supply chain analysis: 1. Operational Efficiency: Identify and eliminate potential bottlenecks or operational bottlenecks across the supply chain to improve work flow. 2. Cost Control: Analyze each stage in the supply chain to identify cost savings opportunities, including price negotiations with suppliers, waste reduction, and logistics efficiencies. 3. Inventory Management: Improve inventory management to avoid stock shortages or excesses, using strategies such as just -in- time (JIT) or sophisticated information technology. 4. Product quality: Ensure product quality through selecting quality suppliers, quality control, and monitoring supplier performance. 5. Innovation and Technology: Integrate the latest technology in supply chain management to improve visibility, risk management and efficiency. 6. Environmental Sustainability: Introduce sustainable practices in the supply chain, including selecting environmentally friendly suppliers and reducing environmental impacts during the production process. 7. Customer satisfaction: Ensure that customers get products or services quickly, efficiently, and according to their expectations. 8. Risk management: Identify potential risks in the supply chain, such as supply instability or changes in raw material prices, and develop risk mitigation strategies . 44

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9. Collaboration with Suppliers and Business Partners: Build strong relationships with suppliers and business partners to improve communication and collaboration in the supply chain. 10. Increased Flexibility: Develop flexibility in the supply chain to be able to respond quickly to changes in market needs or business conditions. Through careful supply chain analysis and continuous improvement in each element, companies can increase their business viability by creating operations that are more efficient, sustainable, and able to compete in an ever-changing marketplace. Sustainable Supply: Improving Business Viability Through Supply Chain Analysis In this era of globalization, business resilience and viability are crucial for the continuity of company operations. One approach that has proven effective in increasing business viability is a focus on sustainable supply. Sustainable supply not only includes economic aspects but also considers social and environmental impacts. By applying supply chain analysis, companies can identify opportunities and risks that arise along their production and distribution lines. 1. Operational Efficiency through Supply Chain Analysis Supply chain analysis helps companies to identify and overcome bottlenecks or operational obstacles that can hamper business performance. By understanding each stage in the supply chain, companies can design strategies that improve work flow and optimize operational efficiency. 2. Optimal Cost Control and Inventory Management

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Supply chain analysis allows companies to identify significant cost savings opportunities. By negotiating effective prices with suppliers, reducing waste, and optimizing inventory strategies such as just -in- time (JIT), companies can control operational costs and increase profitability. 3. Product Quality and Customer Satisfaction Selection of quality suppliers and strict quality control practices can be accessed through supply chain analysis. This not only supports the production of quality products but also increases customer satisfaction by ensuring the availability of products that are reliable and comply with desired quality standards. 4. Environmental Sustainability Implementing sustainability practices in the supply chain includes selecting environmentally friendly suppliers and sustainable production strategies. By minimizing environmental impacts during the production process, companies can meet increasing consumer demands for socially and environmentally responsible products. 5. Risk Management and Collaboration with Suppliers Supply chain analysis allows companies to identify potential risks, such as supply instability or changes in raw material prices. By developing risk mitigation strategies and building strong relationships with suppliers, companies can increase the resilience and flexibility of their supply chains. In facing complex business challenges, sustainable supply through supply chain analysis is the key to increasing business viability. By understanding every element in the supply chain, companies can optimize operational processes, control costs, improve product quality, and respond quickly to market changes. Sustainability is also 46

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at the heart of responding to the demands of consumers who are increasingly aware of the social and environmental impacts of business activities. Therefore, companies that adopt this approach can build a strong foundation for long-term growth and sustainability. "Sustainable Supply" refers to the concept of maintaining and increasing the availability of raw materials and resources necessary for business operations to run efficiently and effectively. Supply chain analysis (Supply Chain Analysis ) is an approach used to understand and improve the business processes involved in procuring, producing, distributing and delivering products or services. Here are some ways to improve business viability through supply chain analysis: 1. Risk Identification and Resilience : a. Identify potential risks in the supply chain, such as changes in raw material prices, production disruptions, or logistics problems. b. Development of resilience strategies to overcome risks, such as supplier diversification or reserve storage. 2. Optimize Inventory: a. Supply chain analysis can help in optimizing inventory levels. b. -time inventory monitoring can help avoid excess stock or inventory shortages that can be detrimental to the business. 3. Collaboration with Suppliers and Business Partners: a. Selection of suppliers who are reliable and committed to sustainable supply. b. Good collaboration with suppliers and business partners can help increase supply chain efficiency and flexibility. 4. Technology Adoption: 47

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a.

Leverage technology such as supply chain management (SCM) systems to improve visibility and coordination across the supply chain. b. Use of sensor-based technology and the Internet of Things ( IoT ) to monitor and manage inventory efficiently. 5. Data analysis: a. Collect and analyze supply chain data to gain better insight into performance and potential improvements. b. Application of predictive analytics to project future supply needs. 6. Consolidation and Backup Plans: a. Build close relationships with key suppliers to increase supply chain stability. b. Create contingency and consolidation plans to address sudden changes in supply needs. 7. Sustainability and Business Ethics: a. Incorporate sustainability and ethical principles in supplier selection and business practices. b. Promote corporate social responsibility in the supply chain. Implementing this strategy can help companies improve their business viability by creating a supply chain that is resilient, efficient, and responsive to market changes. Case study The following is an example of a case study involving the implementation of sustainable supply strategies and supply chain analysis in improving business viability: Case Study: Increasing Business Viability with Sustainable Supply 48

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Background: Fictional manufacturing company " GreenTech Solutions " which focuses on the production of environmentally friendly technologies decided to increase the viability of its business through a sustainable supply approach. They understood that engaging supply chain analysis could be the key to optimizing operations and responding to increasingly complex market demands. Implementation Steps: 1. Initial Supply Chain Analysis: GreenTech Solutions conducted a thorough audit of its supply chain, identifying key processes and dependencies, from raw material suppliers to final product distribution. 2. Sustainable Supplier Selection Criteria: The company establishes supplier selection criteria that involve sustainable practices, including responsible use of resources, environmentally friendly production practices, and high work ethics. 3. Supply Chain Technology Implementation: GreenTech Solutions adopts advanced supply chain technology to improve visibility and coordination across the supply chain. Supply chain management (SCM) systems help monitor and manage inventory efficiently. 4. Supplier Diversification: In an effort to increase supply chain resilience, companies are starting to diversify suppliers to reduce the risks associated with reliance on a single source. 5. Increased Operational Efficiency:

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Through continuous analysis, GreenTech Solutions identify and resolve operational bottlenecks , increase production efficiency, and optimize cycle times. 6. Waste Reduction Strategy: The company introduced a waste reduction strategy, minimizing production waste and promoting recycling in the supply chain. 7. Promotion of Sustainability and Social Responsibility: GreenTech Solutions integrates sustainability values into corporate communications and promotes ethical practices and corporate social responsibility. Results: After implementing a sustainable supply strategy and conducting a thorough supply chain analysis, GreenTech Solutions achieved a number of positive results: 1. Reducing operational costs through supply chain efficiency. 2. Improved product quality and customer satisfaction. 3. Reduction of environmental impact through sustainable practices. 4. Increased brand reputation and competitiveness in the market. This case study shows how a focus on sustainable supply and supply chain analysis can have a positive impact on business viability, creating operations that are more efficient, sustainable and responsive to market changes.

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Revealing the Market: The Critical Role of Market Research in Business Feasibility By: Jasmine Puspa Sari Revealing the Market

R

evealing the market is a term that may mean the process of analyzing or identifying opportunities in the market for a product or service. This process involves in-depth research and understanding of the needs and wants of the target market, along with competitor analysis. Here are some basic steps to follow: 1. Market Research: Understand who your target consumers are, what they need or want, and what their shopping habits are. This can be done through surveys, interviews, or analysis of existing market data. 2. Competitor Analysis: Looking at what competitors already offer and looking for gaps or deficiencies in their offerings that you can exploit. This will help in determining your competitive advantage. 3. Market Segmentation: Identifying different market segments within your target market and determining which segments are most profitable or most likely to respond positively to your product or service. 4. Position in the Market: Determining how you want to be perceived by your target market compared to competitors. This has to do with the branding and marketing messages you send. 5. Market Penetration Strategy: Create a plan on how you will enter the market and attract consumers. This can include pricing, distribution, promotion, and sales strategies. 51

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6. Testing and Launching: Testing your product or service on a small scale to gather feedback and make adjustments before a big launch. Market research is an important step in assessing the feasibility and potential success of a startup or small and medium enterprise (SME). This step is important because it provides an in-depth understanding of the needs and wants of the target market, and helps in identifying opportunities and challenges that may be faced. Following are some important aspects regarding the role of market research in business feasibility: 1. Market Understanding: Market research helps in understanding the dynamics of the market you want to enter, including market size, emerging trends, and consumer behavior. This is important to determine whether there is sufficient demand for the product or service being offered. 2. Market Segmentation: Breaking down the market into distinct segments based on demographic, geographic, psychographic , and behavioral characteristics allows businesses to more effectively target the audiences most likely to be interested in their offerings. 3. Product Positioning: Market research provides the information necessary to strategically position products or services in the market, thereby differentiating them from competitors and appealing to the target market. 4. Pricing Strategy: Understanding how much consumers are willing to pay and how competitors price their products helps businesses in making informed pricing decisions. 5. Product Development: Research can reveal the features or aspects of a product that consumers value most, leading to 52

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the development or improvement of a product that better meets the needs and desires of the market. 6. Identify New Opportunities and Challenges: Market research helps identify opportunities for growth and expansion, as well as challenges or obstacles that may be faced, thereby enabling better planning and risk mitigation strategies . 7. Distribution Channel Selection: Understanding the best way to reach your target market, whether online or through physical channels, is key to ensuring your product or service is easily available to them. The realization of effective market research involves collecting primary data through surveys, interviews, or discussion groups, and utilizing secondary data available from industry sources, market reports, and academic studies. This information is then analyzed to produce insights that will inform strategic decision making. Thus, market research is an important stepping stone in validating business concepts and forming effective and sustainable business strategies. It helps avoid costly mistakes and maximizes chances of success by ensuring the product or service offered is aligned with market needs and wants. Aspects Related to the Role of Market Research Market research is a systematic process of collecting, analyzing , and interpreting information about the market, including about products or services, target consumers, and competitors. Aspects related to the role of market research are very important for businesses to understand and pay attention to when designing their market strategies. Following are some of these important aspects: 53

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1. Consumer Understanding: Market research helps understand consumer needs, habits, preferences and behavior. This makes it easier for companies to develop products or services that suit the desires of their target market. 2. Market Segmentation: This aspect deals with dividing the market into segments based on certain criteria such as demographics, geographic, psychographics and consumer behavior. Segmentation makes it easier to target effective marketing strategies. 3. Understanding Competition: Market research also includes analyzing competitors to find out their strengths and weaknesses. It helps companies in determining market positioning and developing competitive advantages. 4. Product Development: Using data from market research, companies can develop or improve products according to consumer needs and expectations, as well as identify opportunities for new products. 5. Measuring Customer Satisfaction: Through market research, companies can measure the level of customer satisfaction with their products or services, which can be used as a reference in quality improvement strategies. 6. Pricing: Market research also provides important information in pricing strategies by considering cost factors, value to consumers, and competitor prices. 7. Distribution Channel Selection: Information about where consumers usually buy can help companies make decisions regarding the best distribution channels to distribute their products. 8. Promotion Strategy: This aspect relates to selecting the most effective media and promotional techniques to reach the target

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market, based on an understanding of consumer preferences and behavior. Carrying out regular market research is essential in adapting business strategies according to changing market dynamics. Accurate and upto-date information from market research is a valuable asset in making strategic decisions for a company.

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Business Viability in the World of Finance: Latest Trends and Strategies By: Dayang Dea Dwi Sari Business Feasibility Study

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usiness Feasibility study is a systematic evaluation process conducted to assess the practicality and potential success of a business project or new initiative before investing time, money, and other resources. The goal is to identify the strengths and weaknesses of the business proposal, the opportunities and threats from the external environment, the resources required, and the prospects for its success. This process involves several important aspects, including: 1. Market Analysis: Understanding market dynamics, product or service demand, target customers, and competitor analysis. 2. Technical Analysis: Assessing technology, equipment required, location, and other technical aspects of business operations. 3. Financial Analysis: Make financial projections, assess startup costs , operations, and analyze expected revenue and profits. 4. Legal and Administrative Analysis: Assess feasibility in terms of licensing, government regulations, and other legal aspects relevant to business. 5. Organizational Analysis: Evaluate organizational structure, team skills and competencies, and human resource needs.

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Business Feasibility Studies help decision makers choose between various options, identify risks and opportunities, and develop a solid business plan. Thus, this study is an important step in planning and launching a business to ensure that the business has a high chance of success. Business Feasibility in the Financial World Business Viability in the modern Financial World includes adapting to current trends and implementing innovative strategies to ensure success and sustainability. With rapid changes in technology, consumer habits and global economic uncertainty, here are some of the latest trends and strategies in ensuring business viability in the financial sector: 1. Digitalization and Financial Technology ( Fintech ) - Trend: Digitalization of financial services through the use of blockchain , AI (artificial intelligence) and machine technology learning to increase transaction efficiency and security. - Strategy: Adopt fintech solutions such as digital payments, ewallets and online investment platforms to increase user access and convenience. 2. Sustainability and Sustainable Finance - Trend: Rising environmental awareness is fueling demand for sustainable finance and socially responsible investing - Strategy: Applying Environmental , Social , and criteria Governance (ESG) in investment assessment and developing financial products that support sustainable projects. 3. Personalization Request - Trend: Customers want financial services tailored to their personal needs and preferences. 57

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- Strategy: Use big data and analytics to offer customized financial products, such as insurance that adjusts premiums based on individual behavior or personalized investment advice. 4. Regulation and Compliance - Trend: Regulations in the financial sector are increasingly stringent, especially regarding the use and protection of personal data. - Strategy: Implement a robust risk management system and ensure compliance with local and international regulations, including GDPR (General Data Protection Regulation ) in Europe. 5. Cybersecurity - Trend: With the rise in digital transactions, cyber security is becoming a major concern for financial institutions. - Strategy: Increase investment in cybersecurity technologies, such as data encryption and two-factor authentication , and educate customers about digital security practices. 6. Financial Inclusion - Trend: Efforts to increase access to financial services for populations underserved by traditional financial systems. - Strategy: Development of financial products and services that are affordable and easily accessible through digital platforms, as well as collaboration with government and non-profit institutions. To ensure business viability in today's financial world, companies must be responsive to the latest trends and able to implement relevant strategies. Adaptation to digital technology, sustainability, personalization and cyber security are crucial steps in responding to the rapidly changing dynamics of today's financial markets. 58

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Business Strategy in the World of Finance Business strategy in the world of finance is a comprehensive plan designed by a company or financial institution to achieve long-term goals and sustainable success. This strategy covers various aspects, from risk management, portfolio diversification, determining market targets, to developing new products and services. Here are some key components of business strategy in the world of finance: 1. Market and Customer Understanding: Understanding market dynamics and customer needs is the first step in formulating a business strategy. This involves analyzing market trends, consumer behavior, and competitors to determine opportunities and challenges. 2. Risk Management: In the world of finance, risk management is at the core of every business strategy. This includes identifying, evaluating, and implementing actions to manage or mitigate financial risks, such as credit, market, operational, and liquidity risks. 3. Portfolio Diversification: Diversification is an important strategy to reduce risk and ensure stability. This involves spreading investments across different financial instruments, sectors, or markets to minimize the negative impact of market fluctuations. 4. Product Development and Innovation: Developing and introducing new, innovative financial products and services can provide a competitive advantage. It also helps in meeting the changing needs and expectations of customers. 5. Technology and Digitalization: Leveraging the latest technologies such as artificial intelligence (AI), blockchain , and big data analytics can improve the efficiency, security, and quality of

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financial services. Digitalization of financial services also increases accessibility and convenience for customers. 6. Sustainability and Social Responsibility: Sustainability strategies and socially responsible business practices are now becoming important in the financial industry. This not only appeals to environmentally conscious investors and customers, but also improves the reputation and long-term sustainability of the business. 7. Compliance and Regulation: Ensuring compliance with applicable laws and regulations is key to successful operations in the financial business. The strategy must include robust systems and procedures for compliance and good governance. In planning and implementing business strategies in the world of finance, it is important to have a clear vision, the flexibility to adapt to changes in the market environment, and the ability to anticipate future trends. Long-term success is determined by a company's ability to continuously assess and refine its strategy in line with changing market and regulatory needs.

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Managing Sustainability: Challenges and Opportunities in Business Viability By: Mogi Amano Business Feasibility Concept

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he study of business feasibility covers many things, such as law, socio-economics, culture, markets, marketing, technology, management and finance. This research is carried out to determine whether a project or business is worth carrying out, postponing, or even canceling. Given the uncertainty of the future, careful consideration is required before starting a business. feasibility involves a team of experts from various fields, such as economists, law, psychologists, accountants, and engineering technology. The importance of feasibility lies in its ability to provide a comprehensive research basis, which is then used in the process of making strategic decisions regarding a project or business. In general, feasibility can be divided into two orientations: profit-oriented, which focuses on economic aspects and profits, and non-profit (social) oriented, which considers the sustainability of the project without prioritizing pragmatic values. In a business feasibility study, the following should be investigated: 1. Legal Aspect: b. Location permits that include compliance with applicable legal regulations.

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2.

c. Deed of company establishment issued by a local notary, whether in the form of a PT/CV or other official document d. Taxpayer Identification Number (NPWP) as an administrative requirement e. Company registration certificate for official recording purposes. f. Business location permit letter from local government g. Partner certificate issued by the local government h. Local Trading Business License (SIUP) as an official requirement. Socioeconomic and Cultural Factors : a. Cultural influence, involves assessing the influence of business on community life, local traditions, and other factors. b. Economic aspects, including evaluation of the project's impact on per capita income levels, as well as whether the project can change or improve local economic conditions.

Business Feasibility Opportunities Through Implications of Market Aspects The marketing aspect has a crucial role in increasing the popularity of the company's products, to reach the target market in accordance with the set goals. The primary focus of marketing analysis, as described in a Business Feasibility Study, is to discover what the company will do to meet customer needs. After that, the next step is to design the product and determine offers that can provide

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satisfaction to consumers. The following are the steps or stages applied in conducting marketing analysis: 1. Finding Relevant Markets The relevant market refers to a particular good or service. which is evaluated by strategic management within the framework of the overall product market. In determining the relevant market, there are two main steps. First, management explains and defines the market structure. Second, management provides an explanation of the relationship between market structure and products, along with boundaries that are considered consistent. 2. Analyzing Primary Demand For Relevant Markets Analyzing key demands for relevant markets involves evaluating product class levels. Management needs to be able to explain the characteristics of buyers, detail the profile or characteristics of buyers, and understand the components that influence the purchasing process for all brands and goods available on the market that are considered relevant. 3. Conducting Specific Demand Analysis in Related Markets When conducting selective demand analysis, management's focus is on selecting brands within the market that are considered relevant. Because buyers have varying perceptions of a product and there are a large number of buyers, marketing management applies a market segmentation strategy. Additionally, they need to identify crucial moments during the decision-making process. 4. Determining Market Segments The steps taken by management in analyzing the market involve understanding the method of grouping consumers into categories that are relevant to more specific products. After determining appropriate market segmentation, the 63

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marketing analysis process can be carried out more efficiently, making it easier to assess business feasibility. If segment determination is not in accordance with market conditions, then the Marketing function cannot function properly. 5. Checking the Competition Management tasks involve the ability to evaluate a company's products against those offered by competitors, which can be achieved through gathering using competitive intelligence to obtain important information about your competitors. 6. Looking for Potential Target Markets In analyzing the market, the steps include identifying target markets that have the potential to gain loyal customers and ensure consumer satisfaction with the products used. Analysis of marketing aspects in business results in an assessment of whether or not the business operation is feasible, taking into account the following aspects. If the business is deemed unfit to continue, the company needs to look for and develop a new type of business that is more realistic and has potential. If these efforts still cannot produce viable value, then it is better to stop the business. Business Viability Challenges 1. Operational Management Problems In the beginning, operational management concentrated more on manufacturing company operations, or production management. With the rapid growth in the service sector, a more detailed discussion of service operational management is needed. Operational management involves a range of management activities, including planning, organization, staffing, coordination, direction, and supervision of business operations. The goal is to produce value in the form of goods 64

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and services by converting inputs into outputs in a way that makes the outputs more profitable than the inputs . The main function in every company is operational management, which is also referred to as operational management. Operational management involves ten strategic decisions about operational management, including product and service design, quality management, process and capacity management, site design, layout design , human resource design and job design, supply chain management, inventory planning, material requirements planning, JIT , intermediate , short -term, and project scheduling . Company operational management is responsible for helping management make decisions about production issues. and operational. In general, companies face three main problems, namely: a. Difficult to Determine Company Position Companies must be able to meet the needs of society in an economical, effective and efficient manner. In addition, companies must have the ability to make decisions regarding production strategies , create product quality standards, and select products to be marketed. b. Problems With Design Involves designing the operating room that will be used by the company. The solution is carried out through decision making in the field of design ( design ). For example, decisions taken in the manufacturing process that produce products, such as planning the location of the factory, planning the capacity of the machines to be used, planning the factory building, space layout, and work environment. c. Problems With Operation

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Challenges arise during the production process, such as during the manufacturing process that produces the product. At this stage, decisions taken include production planning, raw material inventory planning, quality control, and production cost control Feasibility Study of Creative Content Companies in Bandung City 1. Description of Research Objects PT. ANK Infratek seeks to expand its operations in various fields, including: •

Fiber Optic Network & Secondary Cable Network (OSP) Work, Hardware & Software Installation , and Electrical Mechanic.

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Procurement of Goods and Services for the Telecommunications Industry.

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Procurement of Goods and Services for the Oil and Gas Industry.

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Development of Creative Industry Services and Content. PT. ANK Infratek aims to improve its operations, especially in the areas of OSP development services, infrastructure and other supporting services that are important for operations. system. PT. ANK Infratek provides services for the telecommunications industry, both mobile cellular and fixed telephone, and also provides goods and services for the oil and gas industry. Several major operators in Indonesia are customers of PT. ANK Infratek : a. PT. Telkom Tbk b. PT. Indosat c. PT. Aplikanusa Lintasarta 66

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d. e. f. g. h.

PT. Telkomsel PT. Excelcomindo Pratama P T. Bakrie Telecom PT. Smartfren PT. Medco Energy

2. Market Aspect PT. ANK Infratek will start developing content products with a focus on developing Android-based interactive games. Operators involved must already have 3G network services or higher to support the marketing of this product. Telkomsel customers can be used as an example to determine the market potential for this data service, taking into account the quality of the service and network. 3. Searching for Market Data PT Telkomsel divides West Java into three regions, namely the Bandung branch, the Tasikmalaya branch and the Cirebon branch. Each branch has a specific subarea , with subbranches for Bandung including Bandung, West Bandung, Cianjur, Cimahi, and Sumedang. Users are divided into two categories based on network usage: 2G and 3G/4G users. Figure 2 shows details of 2G and 3G network usage.

Image: Courtesy Source 67

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From the illustration in the figure above, it can be seen that the number of people using the 3G/4G network in Bandung is greater than the number of people using the 2G network, indicating that Bandung has the potential to be used to market various data services, including game applications . 3G/4G market data can be obtained from historical data, namely the number of Telkomsel 2G/3G network users in the Bandung area. The number of 3G network users per month from mid-2015 to 2016 is included in this data. By using the historical data above, it can be used to predict the number of 3G/4G users in the coming years. This is done on a monthly basis and the forecasting method is chosen based on the smallest Standard Error of Estimate (SEE). After identifying the potential market and knowing the estimated number of 3G/4G network users, we can calculate the revenue for each user service category. This can be done by multiplying the number of 3G service users by the applicable rates for gaming applications applicable to gaming applications .

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4. Market segmentation 3G/4G users are divided into two groups: business and home. This segmentation was chosen based on the demographics of the Bandung City population to calculate network traffic needs . Each segment has certain characteristics, viz a.

Business Class The business class is a consumer user group consisting of people who already work and frequently use the internet with a data speed of 2 Mbps for personal and business needs. b. Home Class Residential classes / home classes use the internet only for personal needs and not too often, so traffic use is more efficient. They have data speeds of 256 Kbps to 1 Mbps. The purpose of dividing the types of interactive game services available on the 3G/4G network is to determine the amount of traffic generated by each user when playing games . 69

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StartUp Guide : Creating a Promising Feasibility Plan By: Elva Gustiaeni Nengsi Business Feasibility Plan

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he guide to creating a promising feasibility plan for a startup involves several important stages that must be passed. This feasibility plan is the first step in evaluating the potential success of your business. The following is a detailed and specific explanation: 1.

2.

3.

4.

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Business Concept Definition: The first step is to clearly define what your business concept is, including the products or services you will offer. Identify the uniqueness or added value that makes your business different and attractive to customers. Market Analysis and Target Consumers: Collecting data on market size, trends, demand and preferences of target consumers is very important. This analysis will help determine whether there is a sufficient market for your product or service. Identify who your target market is and how you will reach it. Competitors and Competitive Analysis: Understand who your main competitors are and what their competitive advantages are. This analysis will help you identify market gaps that can be exploited and determine your position in the market. Business Model: Determine how your business will make money. This includes pricing structures, distribution

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5.

6.

7.

8.

9.

10.

methods, and sales strategies. The business model must be financially viable and sustainable in the long term. Financial Projections: Create detailed financial projections for the next few years, including profit and loss projections, cash flow, and break-even analysis. This will provide insight into when your business is expected to become profitable and how much funding is needed to reach that point. Risk Evaluation and Mitigation : Identify potential risks that could hinder the success of your business, including market, financial, operational and technological risks. Develop a risk mitigation plan to address these issues. Marketing Strategy: Design the marketing strategy you will use to attract and retain customers. This should include promotion, distribution and pricing strategies. Management Team: Profile the founding team and key management, including the experience and skills they bring to the business. A strong team is often a key factor in attracting investment. Execution Plan: Create an implementation schedule that details the major steps from conception to launch of your business. This should include key milestones, such as product development, market testing, and official launch. Funding Strategy: Identify possible funding sources that can be used to grow your business, including personal investment, loans, or external investors. Create attractive and realistic funding proposals.

By following these steps, you can develop a promising feasibility plan for your startup , providing clear guidance and preparing you to overcome the challenges you may face.

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Business Feasibility Development Strategies and Techniques 1. Business Feasibility Research Strategy The decision to use proprietary research methods should be made based on a general approach to a holistic development project. Although the method chosen does not automatically mandate the Decision on exclusive research methods determines what methods should be used to the extent of exclusiveness. However, no approach is perfect; rather, it is hoped that appropriate and creative combinations of elements come from a variety of approaches. 2. Business Feasibility Research Methods •

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Business Feasibility Documentation Study Documentary research is essential for building a structure of thought in which analysis of evidence from documents relating to the research topic can serve as a theoretical basis for evaluating the value of a business. The definition of "document" includes not only traditional matters, such as books and articles in professional journals, but also presentation materials created by professional practitioners at seminars attended by potential investors. Analysis of the sources of this document will adopt a "critical approach as well as careful consideration". In business feasibility research, researchers will always try to reflect what is produced by the source document. the purpose of the document, as well as who the audience is . After that, business feasibility researchers will develop and convey their own views on business feasibility as reflected in the literature they have researched.

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•

Daily Business Feasibility Notes One practical research method in the context of business feasibility is through keeping a business feasibility diary. In this method, researchers will actively observe, record and analyze interesting events related to using a new view of the business being run as a StartUp . Researcher participation in developing business ideas as a StartUp is the core of the method for keeping daily records of the value of this business. Additionally, researchers' participation will be recorded and evaluated based on their ability to speak publicly and convey new perspectives on the venture. An important approach in this personal research is to try and implement the promotion of business ideas into a popular art of marketing management, as well as reflect the development from the promotion of the initial idea to the end. Another crucial result is the creation of structured, attractive and easy to understand business inspiration presentation material that can attract investors. All these activities will be recorded and collected systematically into a daily record of business feasibility, such as with the idea of the "diary method". All data collected will reveal the researcher's role, including their opinions and feelings, during the business feasibility research process. The business feasibility presentation will demonstrate the researcher's active involvement in the entire research process .

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Business Feasibility Survey

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In conducting market research on potential users of business products, researchers will use an online questionnaire to conduct a survey about the need for energy-saving lighting in the workplace. This survey was specifically designed to meet the objectives of this research. Samples will be taken from government offices, private company offices, and hospitals in ten major cities in Central Java. The main objective of this survey was to assess the extent of the need for energy-saving lighting in workplace environments, the extent of damage experienced by conventional lamps, and how much effort is generally required to replace lighting in similar offices. •

Branchmarking and Competitor Business Feasibility Analysis Benchmarking analysis which is useful for improving productivity, operational processes, work practices, quality and other aspects of an organization, Financial Executive distinguishes between competitive benchmarking and best practices. Competitive benchmarking is “The process of comparing a company's practices and performance measures against its most successful competitors.” Best practice benchmarking is intended to identify world-class players and establish best practices as the basis for specific standards that can help businesses. to resemble world class players (Financial) However, from the perspective of business feasibility researchers, benchmarking is not suitable for assessing small start-up companies that have not yet developed. There is no data that can be used as a basis for selecting benchmarks

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( Key Performance Indicator , KPI). The services provided by professional market researchers are too expensive to conduct relevant benchmark research for start- ups . As a result, new businesses must conduct competitor analysis. This means seeking information about competing businesses in terms of pricing, service, logistics, product warranties, and other factors. Business Planning 1. Get Started Easily Late in the last ten years, a new business planning method— lean start- up —has emerged. People who support this movement encourage the use of different business planning methods and explain why writing business plans should be avoided. The basic principle of lean start- up is less planning and more product experimentation to meet consumer needs as quickly as possible. The short slogan is, "Dare to try, and if you fail, start over." An important concept derived from lean start- up means pivoting , which refers to adapting a new view of the business or business system after it has been tested with customers, and this is the key to the entire lean start- up approach . Build measure learn feedback The loop introduced by Eric Ries describes the lean process with steps that include creating a product, measuring customer response, and learning from experience. This approach emphasizes rapid iteration and

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continuous adjustments according to market feedback received. 2. Business Systems Using the concept of "business systems" is closely related to understanding the challenges faced by start- ups . Start -ups are also organizations formed in search of repeatable and scalable business systems," and "business systems show how a company can build, deliver, and capture value." plans are usually clearer and intended for presentations to banks and investors, distinguishing them from business systems in terms of detail, format and target audience . This business plan must be formal and meet the requirements to receive conventional loans and funding. However, it is projected that investors do not often pay attention to details such as "business hypothesis, sales, marketing, customers, market size. Instead, business systems emphasize more on the overall picture of how all the components of the business plan are connected to each other. Seeing the importance of business systems for start- up companies , the author realizes that many start- ups who failed to compile it. There are many causes of start -up failure , and business system failure alone accounts for 17% of startup failures . We have identified 20 basic types of causes of failure which include aspects such as less competitive products, low product quality, and so on. 3. Canvas Business System •

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Osterwalder Business Ideas

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The Business Model Canvas (BMC), developed by Osterwalder , is an innovative tool for business systems that helps companies understand, design, and implement new business systems. improving existing business systems . BMC consists of nine building blocks that were compiled by Osterwalder & Pigneur in 2010. By using these nine building blocks, it makes it easier for us to implement and evaluate business systems, in order to achieve the desired improvement and perfection.

Business Image Canvas Model (BMC) •

Bierdeckel System for Business Planners The business plan must fit the concept of the beer base circle, according to the business solution. In this case, the term “business plan” is used to refer to the Business Model 77

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Canvas , which depicts the basic structure of a business system visually in the form of a typical beer circle. In this context, the term "business plan" refers more to a visual representation, namely a business canvas , which depicts the key elements of a business system. In using this business Canvas , an attractive graphic presentation reflects a persuasive approach, which effectively places customers and their needs at the center of business planning. In addition, it should be noted that in this Canvas system , intangible aspects of virtue such as emotional values, new views, ideas, and visions also have their place. This shows that the business Canvas provides space to include these factors in a simple and efficient business planning framework.

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Data- Driven Decisions : How Big Data is Changing the Game in Business Viability By : Annisa Bella Vii Amandahasan

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overnments are now starting to use big data to understand the behavior of their citizens online , making every citizen's digital performance available as a source of information for other people to use. Understanding Data: Experts define data etymologically as the plural form of date which in Latin means a picture or value of a reality This statement or value is obtained from the measurement process or observer of the variable and can be in the form of a number , character (text), image or audio (sound). Information is a collection of facts or data that have been processed and managed so that they can be understood and are useful for the recipient. From this explanation, we can understand that the word "information" has a different meaning from the word "data". Data is original data that has not been processed. When data is manipulated or manipulated, it can become useful information. Not all facts or data can be converted into information for the person who receives them. Discussing Big Data Many companies use the term " big data" to describe large amounts of data, both structured and unstructured, and also for what businesses do with that data. Big data can be analyzed to produce insights that will help make better decisions and business strategies. This is because data is structured. Social network services (SNS) are often associated with big data.

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The spread of the Internet and advances in information technology have caused a data explosion or data flood, which results in a very large and continuous flow of data making it very difficult to manage, process or analyze data using currently used data processing technology (RDBMS). A set of processes that explore data and process it to obtain valuable information for decision making is called data mining. Data mining refers to a set of techniques that aim to discover unknown patterns in collected data. Data mining allows users to discover knowledge in database data that they did not otherwise know its existence. As big data develops in the future, technology for collecting, storing and processing data is still being developed. How Data Analysis Can Help Companies Make Business Decisions Data evaluation helps companies make better business choices by uncovering hidden patterns, identifying growth opportunities, and minimizing risks. The data collected must be accurate, relevant and complete enough and come from various sources, including customer data, sales data, inventory data and marketing data . After the data is collected, the next step is data processing and information analysis, which can offer useful information about customer behavior, competitor performance, and market trends.Data analysis helps companies understand consumer preferences, discover business opportunities, increase productivity efficiency, and improve factbased business decisions. By using data analysis, Businesses can make better choices, improve business performance and outperform their competitors.

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Data Analytics plays an important role in a company's decisionmaking process. better business . Here are some ways data analysis can make a significant contribution: customer behavior, preferences and needs . Customer data contributes to better segmentation, allowing companies to offer items and services that better meet market requirements. Operational Optimization: By analyzing operational data, Companies can discover the efficiencies and ineffectiveness of business processes . Operational optimization includes supply chain management and inventory control, and more productive production planning. Forecasting and Forecasting: Data analysis allows businesses to create predictive models that can predict future business trends. Accurate forecasts help companies plan inventory, production, and marketing strategies. Fact-Based Decision Making: Data analysis provides a fact-based basis for business decisions and reduces the risk of making decisions based solely on intuition. Information obtained from data helps management make more useful and strategic decisions. Price Optimization: By analyzing price data, market demand, and consumer behavior, businesses can optimize pricing strategies and increase sales and profits. Risk Management: Data analysis helps businesses better identify and manage risks. Risk analysis allows companies to develop strategies to reduce financial, operational, and reputation risks. 81

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Product Development and Innovation: Customer data and input can be used to build new goods and improve current products. Data analysis helps companies understand market trends and consumer needs, which can guide product innovation. Performance Evaluation: Data analysis helps companies evaluate their overall performance . Product, department, or store performance can be measured using relevant metrics and key performance indicators (KPIs). Personalizing the Customer Experience: Customer data can be used to personalize the customer experience, whether in marketing, customer service, or product development. Data analysis helps businesses make smarter decisions, improve operational efficiency and respond faster. What kind of data is needed and must exist in a business to determine decisions regarding the feasibility of a business How to collect accurate and relevant data from various sources such as customer data, sales data, inventory data and marketing data To collect various sources of accurate and relevant data such as customer data, sales data, inventory data, and marketing data, businesses can take the following steps: • Identify data sources: Determine the data sources required for each type of information. •

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Customer data from your customer relationship management (CRM) system, sales data from your sales system, inventory data from your inventory

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management system, and marketing data from your marketing platform. •

Verify data accuracy: Verify the accuracy of data collected by ensuring that it is recorded correctly and does not contain errors.

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Consider business needs: Ensure that the information collected meets company requirements and the objectives of the analysis being performed.

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Utilizing Big Data Technology: Data Management through the Use of Big Data Technology, large amounts of data from many sources, structured or unstructured, to understand customer preference patterns, supply chain efficiency, and competition.

These steps allow companies to collect accurate and relevant data to support better business decisions. How is data processed and analyzed about customer behavior, competitor performance, or how the market is developing? To carry out data processing and data analysis related to customer behavior, competitive performance, or market developments, companies can take the following steps: Determine the data types you need. For example customer data, sales data, competition data, market data, etc. Collect information.Information about our customers, such as their 83

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preferences, feedback, purchase history and behavior on websites and apps.Get data on market trends, competitive analysis and up-to-date industry information. Use data analysis tools to analyze, and understand the information contained in data Apply a variety of analytical, statistical and artificial intelligence techniques to discover patterns, trends and relationships in data. By doing this, companies can make better business choices by using data processing and analytics to understand customer behavior, competitive performance, and market trends. By utilizing data analytics , companies can make better choices, improve company performance, and outperform competitors. Businesses can use data analysis to make better decisions, improve business results, and outperform their competitors. To get better, follow these steps: 1. Collect any information that is business-related and accurate: Businesses can collect customer data, sales data, inventory data, and marketing data from various sources. 2. Data Processing and Data Analysis: Once data is collected, businesses can process and analyze it to gain valuable insights into customer behavior, competitor performance, or market trends. 3. Recognize patterns, trends, and relationships: Data analysis helps companies understand customer behavior, competitor performance, or market developments. 4. Make better decisions: By using insights gained through data analysis, businesses can make better, smarter and evidencebased choices. 84

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5. Improved Business Performance: A deeper understanding of customers allows companies to create products and services that better meet customer needs. 6. Outperform competitors: By identifying competitor performance patterns and customer preferences, businesses can create better marketing strategies. By using data analysis, a company may make better choices, improve business performance, and outperform its competitors.

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Think Big, Start Small: Viability Strategies for Startups and SMEs By: Edo Dwi Budget Think Big

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Based on the data I collected, thinking big means giving yourself the freedom to brainstorm and explore ideas that can drive change. That's pretty esoteric, but in practice, this could mean: • Daydream about your future • Reflect on your role in the direction of your company and where you want to take it both ways • Ponder what it takes to get ahead of the competition or jump to the next career level • Reflect on what activities are actually important in your life • Reasons to be creative Results from a review of laboratory and field studies on the impact of goal setting on performance show that in 90% of the studies, specific and challenging goals resulted in higher performance than easy goals, “do your best” goals, or no goals. Goals influence performance by directing attention, mobilizing effort, increasing persistence, and motivating strategy development. Thinking big can make mundane things interesting. After all, Uber is just a collection of local taxi companies and Amazon is a warehousebased catalog store. But by setting high goals, these organizations can better capitalize on those efforts and direct the attention of employees and their support groups. 86

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The bigger your goal, the greater your motivation to achieve it. Or as someone said to me, aim for a Gold medal, you might get a Silver. Aim for Bronze and you'll be lucky to complete it. Start Small It is the nature of the world that whatever you want to achieve must start from the beginning. one positive action in the right direction of travel. (That's why it's important to know where you're going) In the era of business planning courses, the pseudo-accuracy of Excel spreadsheets and the matrix organization in which we 'go round and round' makes it easy to plan; and a complicated one at that. Anyone can make a complicated plan. But the complexity is difficult to manage. Think Big, Start Small We need to believe first that nothing big will happen in this world without small things preceding it. A giant company that exists today was started by a small business that was run consistently. In the hazard control hierarchy, we can see that a work accident incident must be the impact of a dangerous condition or activity that was left unchecked just because it was safe at that time. The same is true with ideology or goals. When striving for a goal, we may wish to imagine the final results that will be realized if the goal is achieved, but this also needs to be balanced with actual actions to make it happen.

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From the naked eye , these actions often do not appear to be correlated with the goals to be achieved. Returning to the example of the Bandung-Jakarta trip, if in reality we don't have the money to pay for transportation or for vehicle servicing, then it is necessary to find money first, this could be by working, selling, doing business, etc. When he works he is hungry, so he will eat. When he works he is thirsty, so he will drink. When he works he is tired, so he will rest. With this parable, it can be concluded that actual actions to realize the goal of arriving in Jakarta are not only limited to the Bandung-Jakarta trip, but activities as small as eating, drinking, resting, working, doing business and selling are also a form of our seriousness in working towards that goal. . Business Feasibility Study and Goals The purpose of the first business feasibility study is to describe an entrepreneurial journey of a small start- up , which is realistic to motivate and train self-confidence. The second purpose of this business feasibility study is to illustrate the role of knowledge in entrepreneurship, by providing practical examples regarding its implementation, the tools and methods used are real life cases. The results obtained after reading this book are a way to develop a viable business concept for a start- up business , which is very necessary for entrepreneurs. The aim of this business feasibility book is to achieve measurable achievements in building a business project's final goal. Dawson , provides a way to identify approaches in business planning that are suitable for small start-up companies ( startups ) as follows: 1. Carrying out market research for initial start- ups

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2. 3.

4. 5. 6.

Designing and developing Business System Canvas (BMC) for start- ups Design and develop presentations by emulating good presentations (Elevator Pitch ) as a template for start- up promotions Designing marketing strategies for start- ups Design and develop minimum viable products (Minimum Viable Product ) or known as MVP for start- ups Identify the most important skills for budding entrepreneurs

Approaches and Methods for Business Feasibility Strategy Development To deliver business feasibility research and development projects to a high standard, we use the following research-oriented business feasibility development approaches and methods: •

Business Feasibility Research Approach The decision to use a particular research method must be made concretely depending on the general approach to the entire development project. Although the chosen approach does not automatically determine the research method, the decision to choose the method must be made to some extent. However, no approach is perfect, it requires a suitable and creative combination of elements from various approaches. The main result of this development project is the creation of a viable business concept for a new venture. This "novelty of results" becomes the innovation of the most reasonable approach, because the implementation and commercialization of a new venture is the most important characteristic of this approach. The field research approach

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will also be used as a form of market research to accommodate practical innovation needs. •

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Business Feasibility Research Methods To achieve the goal of business feasibility, we will use a variety of different research methods, and combine the two systems of quantitative and qualitative research into “mixed systems research”. Likewise, the approach, division and definition of various methods, becomes less important for the project if it does not produce "instrumental value ", that is, practical utility for finding the best business feasibility. The data obtained will be collected and analyzed with the help of the following methods: Business Feasibility Documentary Research Documentary research is research that is important for building a framework for thinking, so that analysis of documentary evidence related to the research area to be built can become a theoretical basis for business feasibility. Because "documents" are not only considered traditional sources such as books and articles in professional journals, but also as presentation material given by professional practitioners in seminars attended by potential investors. Therefore analysis of documentary sources will apply the “critical approach and careful consideration” as suggested by Ojasalo . In business feasibility research, you will always try to reflect what has been produced from the document, what the purpose is and who the audience is. After that, business feasibility researchers will build and voice their own opinions about the views of business feasibility expressed from the researched literature. Business Feasibility Diary

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One practical method of researching business feasibility is to keep a business feasibility diary. Researchers will watch, record and analyze interesting events in which they will participate. The researcher's participation in the business idea that will be offered as a Start Up is the core of this business feasibility diary method. In addition, researcher participation that focuses on the ability to present business ideas and public speaking skills needs to be recorded and analyzed. The main aim of this direct research approach is to try and practice business idea promotion as a popular idea marketing strategy and to reflect on the development from initial to final idea promotion. Another important result is the creation of business idea presentation materials that are coherent, good and easy to understand, which will convince investors. All these activities will be recorded and collected systematically as a business feasibility diary which is similar to Iida , Shrout , Laureanceau & Bolger's idea of the “diary method”. A recording of the business feasibility presentation will reveal the role of the researcher who is actively involved in all research activities. This role will not raise any ethical issues regarding the business feasibility research conducted. All data collected will reveal the role of the researcher, including his opinions and feelings during the business feasibility research process. Semi-structured Interview Regarding Business Feasibility To be able to understand the views of business ideas well, researchers will conduct semistructured or thematic interviews, through various questionnaires. The idea is to interview a large number of business professionals, semi-professionals and energy-saving 91

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lamp users of different genders and ages, to be able to create two views regarding business feasibility research. The aim of this research is, firstly, to find out whether there are enough suppliers of energy-saving lamps and secondly, what kind of pick-up system in offices will be approached for cooperation in marketing efforts for energy-saving lamps in this area. At the same time, researchers will investigate the feasibility of an energy-saving lamp business with a ball pick-up system for research. Business Feasibility Survey To conduct market research on potential business product users, researchers will create a survey using an online questionnaire about the need for energy-saving lighting in the workplace, which was created for the purpose of this research. The pick-up sample in question consists of government offices, private company offices, hospitals operating in ten big cities in Central Java. The main aim of this survey is to find out how much energy-saving lighting is needed in workplace environments, as well as how often conventional lamps break down, how big the average budget is for replacing lighting in such offices. Business Feasibility Benchmarking and Competitor Analysis According to Ojasalo et al. Benchmarking is a useful method in developing quality, productivity, operational processes, work practices and other areas of an organization. Financial Executive distinguishes two types of benchmarking (1) competitive benchmarking and (2) best practice benchmarking . Business Dictionary defines competitive benchmarking as “The process of continuously comparing a company's practices and performance measures with those of its most successful competitors.” Meanwhile

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benchmarking best practices are designed to identify worldclass players and the best practices underlying the specific standards they use, which will enable our company to be similar to world-class players. According to business feasibility researchers, benchmarking is not suitable for analyzing small start- up companies that are not yet operational. There is no data generated to be able to determine benchmarks ( Key Performance Indicator = KPI). Professional market research services are too expensive to produce a relevant benchmark study of a startup . Therefore, what a start- up business can and must do is carry out competitor analysis, namely finding out what our business competitors are like, for example in terms of price, service, logistics, product guarantees and so on.

Feasibility Study for Star- Up Startup is a business world full of challenges and courage. To deal with uncertainty and increase the chances of success, tactical steps need to be taken. One critical step that is often overlooked by startup founders is the Feasibility Study. Why Feasibility Studies Are Important for Startups 1. Identify Potential Startup Risks o Startups often faced with high risks. Feasibility Studies help identify potential risks before they develop into serious problems. o With a good understanding of risks, startups can plan strategies to overcome them. 2. Helps Set a Clear Vision and Mission

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Feasibility studies force startup founders to formulate a clear vision and mission. o It helps guide all business decisions and actions towards predetermined goals. 3. Preparation for Obtaining Investment Support o Investors look for evidence that a startup has the potential to be successful. The Feasibility Study presents strong and convincing projections. o By having a solid feasibility study, a startup can increase its chances of getting financial support Tactical Steps in Conducting a Feasibility Study for a Startup 1. Determining Business Goals and Objectives o startup vision and mission that reflects short and long term goals. o Determine specific and measurable business goals. 2. Market Analysis and Competitive Advantage o Study market and industry trends to understand customer needs. o Identify competitors and unique offerings that differentiate the startup from others. 3. Accurate Financial Assessment o Carefully project income and costs. o Calculation of break-even point and profit to determine the financial sustainability of startups . 4. Technical and Operational Evaluation o Review the availability of technical and infrastructure resources. o Ensure there is sufficient human expertise to support startup operations . 5. Risk Analysis and Management Strategy o the startup may face . o

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o

mitigation plans and management strategies

Application of Feasibility Study Results in Startup Business Plans 1. Preparing a Solid Business Plan Integrating feasibility study findings into a business plan is a crucial step that ensures that every aspect of a startup's business is planned carefully. This includes incorporating market analysis results, risks, and opportunities that have been identified during the feasibility study. The business plan must reflect the company's vision and mission and highlight the advantages resulting from the feasibility study. In addition, presenting the business plan in an attractive and convincing manner is very important to attract the attention of potential interested parties, including investors and business partners. The use of graphs, infographics and other data visualizations can increase the appeal and make it easier to understand the proposed business strategy. 2. Marketing and Customer Acquisition Strategy The marketing plan must be in accordance with the market analysis that has been produced from the feasibility study. This includes competitive pricing, developing a strong brand, and selecting effective distribution channels. Effective and sustainable customer acquisition strategies also need to be emphasized in the business plan. Detailed steps to build brand awareness, design appropriate marketing campaigns, and establish long-term relationships with potential customers should be covered. Using data from feasibility studies to support marketing and customer acquisition strategies is key to achieving optimal results. 3. Financial Plan Implementation 95

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Efficient use of investment funds is an important factor in the success of a startup business . The financial plan must reflect a clear allocation of funds according to business priorities. Monitoring and adjusting financial projections over time is also a critical aspect of implementing a financial plan. Startup businesses must be able to adapt their financial strategies to market changes, internal developments, and other external variables. This includes an evaluation of operational costs, additional investments that may be required, as well as revenue adjustments based on customer response and market conditions. By adopting a responsive approach to financial dynamics, startup businesses can increase their financial resilience and maximize the use of resources to achieve sustainable growth. Feasibility of SME business in tofu making in Lubuk Sahung Village from marketing and production aspects (Case Study) Marketing Aspect The results of interviews conducted with Mrs. Lestari at the beginning in 1994, they determined the price for their tofu product, it was actually quite easy without having to look at the market segmentation they would participate in. They determined the price of their product based on the price of the raw materials they bought from other traders, in this case the price the soybeans they buy from soybean suppliers in the city of Bengkulu, they only determine the selling price based on the raw materials, if the raw materials increase then they will deal with the increase in raw materials by reducing the size of the tofu and if the raw materials have returned to normal then the size of the tofu will return to normal. 96

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"Our price determination is not complicated, we only look at the price of imported soybean raw materials, yes, if soybeans are rising we will reduce the size of the tofu, but if it is normal we will return it, but we will not increase the price because we are afraid of angry buyers." The selling price of tofu produced by Ibu Lestari's tofu factory can be categorized according to the existing market segmentation because in the village there are several manufacturers who also produce tofu as their business, and Ibu Lestari has to adjust the selling price of their tofu to the selling price of competitors, for Ibu Lestari's quality. always prioritizes it, because Mrs. Lestari prioritizes quality over profit because if the quality of the tofu produced is good then consumers will not run to other competitors. The promotional strategy implemented by Mrs. Lestari was initially only through word of mouth, visiting fried food stall owners and school canteens, and bringing her own tofu produced to markets around the Sukaraja sub-district . Initially, that was all Mrs. Lestari could do in promoting her tofu. As a result of its production, Lestari's tofu is gradually becoming more known and trusted for consumption, and promotional strategies are also developing, now Mrs. Lestari has marketed her tofu online via social media . WhatsApp , if there are customers who want to order, they can order directly via WhatsApp without having to go to the factory first. To distribute tofu from the factory to the market, Ibu Lestari does not have her own couriers or employees, but only through vegetable craftsmen and through people who actually pick up the tofu at Ibu Lestari's factory to resell at the market.

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In terms of products, Mrs. Lestari always provides the best of her production to be marketed, because for Mrs. Lestari, when the products marketed are quality, consumers will be satisfied and will return to buy tofu from their production, and so far no consumers have complained or submitted complaints about The tofu produced by Ibu Lestari is because the tofu that Ibu Lestari sells is the best tofu from the Lestari tofu factory. Production Aspect The results of the interview with Mrs. Lestari as the owner of the tofu manufacturing factory before they built the tofu factory, they carried out an analysis of the location of the tofu making business . - in the middle between the cities of Bengkulu and Sukaraja , a strategic place to carry out trade, after analyzing this, Mrs. Lestari and her family also carried out an analysis of where the resulting waste will be disposed of , so as not to disturb residents around the factory and not pollute the environment around the factory, so Before establishing the tofu factory, Mrs. Lestari carried out an in-depth analysis of the location of her tofu factory . The source of raw materials used in making tofu is imported soybeans which are purchased directly in the West Circle of Bengkulu City. The reason why we use imported soybeans is to maintain the texture and taste of the tofu after it is finished, and to speed up the processing of the soybeans because when soaked the husk of the imported soybeans peels faster. If you compare it with local soybeans, and when the imported soybeans are milled they are softer and smoother than local soybeans, therefore the Lestari tofu factory really pays attention to the raw materials they use in producing tofu, and is not careless in choosing raw materials. 98

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In producing tofu, Mrs. Lestari uses tools that tend to be traditional, none of which uses machines, everything is done manually, which means that the technology for making tofu at Lestari's tofu factory is very traditional, but there is a reason why Mrs. Lestari prefers to use traditional tools compared to renewable tools. The reason is that traditional tools can produce high quality tofu and taste better. Renewable tools can indeed increase the amount of production, but the taste of the tofu produced is less satisfying, and costs more to produce, and will cause an increase in the price of tofu or a reduction in the size of Ibu Lestari's tofu. . Mrs. Lestari's tofu factory already has a valid business permit from the government and also has a location permit from the local government. This permit has been obtained by Mrs. Lestari for a long time, because what is produced is food, they consider it very important to have a permit to set up a tofu factory. And the production effluent produced every day is filtered and the final waste product is only water that is white and does not smell or pollute the environment of local residents, and Mrs. Lestari already has her own swamp land to dispose of waste water from tofu production. Currently, the production output is only sufficient to meet market needs around Sukaraja and has not been able to penetrate the market in Bengkulu City, because the production output is not yet sufficient, at most only tofu brought by outside traders can reach the market in Bengkulu City. The obstacle faced during tofu production is the lack of adequate employees. Lestari's mother has tried to recruit employees for production but many of them can't stand it and can't produce tofu. Even though they have been taught how to make Lestari's tofu, they still can't stand it and there are also those who Ms. 99

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Letari was laid off again because her work was unsatisfactory. Currently, most of Ms. Lestari's employees come from Ms. Lestari's own family . Apart from these obstacles, another obstacle is that if the rainy season occurs, production will be hampered because the firewood used for production will be difficult to dry, and will require more time to dry.

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Moving Forward with Security: Blockchain Integration in Business Viability By : Dea Indah Permatasari Stepping Proceed with Security

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tepping Forward with Security refers to an approach or strategy in various contexts, including business, technology and personal life, where we strive to achieve growth and success by ensuring that security aspects are not overlooked. In a broader context, this can be interpreted as an effort to achieve goals while mitigating risks and ensuring that the steps taken do not harm assets, data, reputation and human resources. The following are some important points regarding the "Moving Forward with Security" material: 1. Risk Assessment: The first step is to thoroughly assess the risk. Risk assessment helps in identifying potential dangers or weaknesses that may be encountered. This is an important step in planning how to address those risks in the most effective way. 2. Security Implementation: Based on the risk assessment, appropriate security policies and procedures are implemented. This may involve the use of advanced security technology, training staff on information security, or developing a contingency plan to handle security incidents. 3. Continuous Development: Moving forward with security also means committing to continuous development and updates to security systems. The world is constantly changing, and security threats are constantly evolving, so security policies and tools need to be updated regularly to maintain their effectiveness.

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4. Security Culture: Developing a security culture throughout the organization or in personal life is a key element. When all team members understand the importance of security and act responsibly to protect assets and information, the security system becomes stronger. 5. Balance between Progress and Security: One of the most important aspects of “Moving Forward with Security” is finding the right balance between innovation and security. Too much focus on security can stifle innovation, while too much focus on progress without considering security can be fatal. 6. Digital Security: In this digital era, cyber security has become very important. Protecting data and digital infrastructure from cyber attacks , phishing , ransomware , and other threats, is a crucial part of moving forward with security. The concept of "Moving Forward with Security" emphasizes that development and security are not two mutually exclusive things, but rather two components that must work together to achieve sustainable success and avoid losses. It is a holistic approach that recognizes the importance of security in every phase of development be it personal, organizational, or technological.

Blockchain integration Integrating blockchain into business viability is a strategic move that offers various benefits and challenges. This material will discuss key concepts related to blockchain integration in the context of business feasibility.

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Understanding Blockchain Blockchain is a distributed and encrypted data storage technology that allows recording transactions that are secure, transparent, and cannot be changed or deleted. This technology underlies cryptocurrencies like Bitcoin , but its applications go beyond the financial sector. Blockchain Integration 1. High Data Security: Data on the blockchain cannot be changed or deleted, offering a high level of security. 2. Transparency: All parties with access can view transaction data, increasing trust between parties. 3. Operational Efficiency: Reduce transaction time and costs by eliminating intermediaries. 4. Decentralization: Reducing the risk of system failure because it is not centralized in one location. Challenges and Considerations 1. Scalability : Some blockchain platforms have limitations in terms of the number of transactions per second. 2. Integration and Operational Costs: Adapting legacy systems to blockchain technology can require a large initial investment. 3. Regulation and Compliance: Evolving regulations may impact how companies use blockchain . 4. Lack of Knowledge: Limited resources or expertise in blockchain can hinder implementation.

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Blockchain Integration Steps in Business Feasibility 1. Business Needs Analysis: Identify the problem that blockchain can solve and determine who will gain added value. 2. Platform Research: Choose a blockchain platform that suits the specific needs of the business, such as Ethereum for smart contracts or Hyperledger for enterprise applications. 3. Prototype Development: Develop and test prototypes to assess technical feasibility and business benefits. 4. Cost-Benefit Analysis: Compare development and operational costs with expected benefits, including increased security and efficiency. 5. Regulatory Compliance: Ensure blockchain solutions comply with relevant regulations and industry standards. 6. Implementation: Implement in stages with close monitoring of performance and resulting impacts. Blockchain integration in business viability offers a variety of benefits, including increased security, transparency, and operational efficiency. However, there are challenges such as scalability , costs, and regulatory issues that need to be overcome. Disciplined steps and careful evaluation of potential benefits and barriers can help in crafting a successful blockchain integration strategy . The Importance of Blockchain in a Business Blockchain is a technology that functions as a digital ledger that records transactions in many computers so that the record cannot be changed without changing all subsequent blocks and the network consensus. This technology has great potential to change various

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industrial sectors, including business. Here are some important points regarding the importance of blockchain interactions in a business: 1. Higher Data Security: Every transaction recorded in the blockchain is verified by the network and encrypted, making it extremely difficult to manipulate. This offers a higher level of security compared to traditional systems. 2. Transparency: With blockchain , all transactions are visible to all parties with access. When a company uses blockchain , they can increase the transparency of their operations to customers and stakeholders . 3. Operational Efficiency: Using blockchain can reduce or eliminate the need for third parties or intermediaries in processes such as payment transactions, which can simplify and speed up operations. 4. Cost Reduction: By eliminating middlemen and speeding up transactions, blockchain can help businesses reduce operational costs. 5. Irrefutable Audit Trail: Every transaction recorded in the blockchain is timestamped and cannot be changed or deleted, providing a clear audit trail for transactions. 6. Ease of Cross-Border Payments: Blockchain enables faster and cheaper cross-border fund transfers compared to traditional payment systems. 7. Smart Contracts: Blockchain enables the use of smart contracts, which automatically execute transactions or contractual actions when certain conditions are met, reducing risk and increasing trust in transactions. 8. Accommodating the Sharing Economy: With blockchain , businesses can do more easily accommodates asset or service

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tokenization systems , facilitating the sharing economy and creating new business models. 9. Personalization of Products and Services: Leveraging transparent and secure data from blockchain , businesses can better understand customers and customize their products or services. 10. Fraud Resilience: By recording transactions on the blockchain , businesses can reduce fraud incidents such as duplicate payments or data manipulation. Integrating blockchain into business offers many benefits, including increased security, efficiency, and transparency. While it is still considered a new technology and presents implementation challenges, the potential it offers in improving the way businesses operate is significant.

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Talking with Numbers: Reading Business Success Through Financial Reports By : Dafa Nugraha What That Speak By Numbers

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Talking with numbers is a way to read business success through financial reports. The data and figures contained in financial reports provide important information about a company's financial health, including information about assets, debt, income, costs and profits generated. By analyzing financial reports, business owners and stakeholders can understand whether the company is profitable, make smart decisions, and measure the company's growth and efficiency. Financial reports also provide valid and accurate evidence for calculating tax obligations, so their existence is very important for business success. Apart from that, digital security is also important in business viability. Digital security is the protection of digital systems, such as computers and networks, from information interception, theft, or damage. In the context of blockchain integration in business feasibility, security is one of the main aspects that needs to be considered. Blockchain integration in business feasibility offers several security benefits, such as transparency, traceability , data protection and risk reduction. By understanding and implementing proper security measures, companies can maintain security in their blockchain integration and become leaders in the global business world. In business, data and numbers are very important to read business success through financial reports. Digital security is also important in business viability. Therefore, companies must pay attention to and 107

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implement appropriate security measures to keep their data and transactions safe. Thus, companies can utilize blockchain technology to increase their business viability and become leaders in the global business world. What That Report Finance Report finance is notes information finance from something company at a time period accountancy . Report This covers information about assets , liabilities, revenues , costs , and profits generated by a business . Report finance generally consists from three component main , that is report profit loss , balance sheet , and report cash flow . Report finance give outlook important about health financial company , as well give valid and accurate evidence For count obligation taxation . Report finance is also used For taking decision , measurement growth and efficiency , as well as reference main For take decision related to business strategy , allocation source power , investment , and policy other . Therefore that 's important for every business For compile report good finances To use get benefit maximum from analysis finance . Report Finance : Foundation Success Business Report finance is notes information finance from something company at a time period accountancy . Report This covers information about assets , liabilities, revenues , costs , and profits generated by a business . Report finance generally consists from three component main , that is report profit loss , balance sheet , and report cash flow .

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Component Report Finance 1. Report Profit Loss : Report This covers information about revenues , costs , and profits generated by a business during period accountancy certain . Report This give description about performance finance company in produce profit . 2. Balance Sheet : Balance sheet covers information about assets , debt, and equity company at the end period accountancy certain . Balance Sheet give description about health financial company and capabilities company For pay debts and fulfill obligation finance other . 3. Report Cash Flow : Report This covers information about cash inflow and outflow company during period accountancy certain . Report This give description about ability company For produce sufficient cash flow For fulfil need operations and investments .

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Importance Report Finance Report finance give outlook important about health financial company , as well give valid and accurate evidence For count obligation taxation . Report finance is also used For taking decision , measurement growth and efficiency , as well as reference main For take decision related to business strategy , allocation source power , investment , and policy other .

• Analysis Report Finance Analysis report finance is the process of interpreting information finance in report finance For understand performance finance company . Analysis This covers a number of method , like analysis ratio finance , analysis trends , and analysis vertical and horizontal. With analyze report finance , owner business and stakeholders 109

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interest can understand is company currently profitable , take smart decisions , as well measure growth and efficiency company . In context business , report finance is Foundation success finance for every business . Report This give outlook important about health financial company , as well give valid and accurate evidence For count obligation taxation . Report finance is also used For taking decision , measurement growth and efficiency , as well as reference main For take decision related to business strategy , allocation source power , investment , and policy other . Therefore that 's important for every business For compile report good finances To use get benefit maximum from analysis finance . Read Success Business Through Report Finance Read report finance is Skills key required For understand health financial something business . Report finance provide information detailed about performance finance company , incl revenue , costs , profits , assets , liabilities, and cash flow . With good understanding about report finance , owner business and stakeholders interest can take more decisions smart , plan more business strategies good , and evaluate performance business in a way comprehensive . Report finance generally consists from three component main : report profit loss , balance sheet , and report cash flow . Report profit make a loss works For show is business be in position profit or loss , temporary balance sheet give description about assets , debt, and equity company . On the other hand , reports cash flow provides information about cash inflow and outflow company during period certain .

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With read report finance , owner business and stakeholders interest can : 1. Understand performance finance company and evaluate is company be in position profit or make a loss 2. Measure growth and efficiency business with compare report data finance with period previously 3. Take smart decision based on information report finance , like expand business or reduce cost 4. Compile reports good finances For get benefit maximum from analysis finance In context business , report finance is Foundation success finance for every business . Report This give outlook important about health financial company , as well give valid and accurate evidence For count obligation taxation . Report finance is also used For taking decision , measurement growth and efficiency , as well as reference main For take decision related to business strategy , allocation source power , investment , and policy other . Next time we will discuss tips on how to read Report Good and Correct finances For success Business You : 1. Report profit loss (Income Statement) Report This works For show is business be in position profit or make a loss . Report profit make a loss divided become two , viz income and expenses , each of which consists of from operational and non- operational . 2. Components contained in it is revenue , profit make a loss effort , burden loan , burden taxes , profits or make a loss company , outpost ordinary , and right minority . Well, in part This We need pay close attention , whether company profit or loss and how much big our income get . Compare income and prices principal sales (COGS). After Therefore ,

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also compare income and expense data with report year previously . Report cash flow (cash flow) Report cash flow shows Genre enter outflow of company funds . Type This can help We project future cash flows with report latest . Component in report cash flows include operational cash , cash from investments , and cash from funding . Investment cash is inflow and outflow of related funds with investment company , then cash from funding is capital receipts for company . Report This useful when holder share wondering , why company No share dividends , though its equity tall . It could be Because moderate cash flow blank or No own sufficient cash supplies . Report change in capital Report changes in capital show data regarding the amount of capital owned company . We can understand proceed retreat something company from how much big addition the capital . Component report This consists from initial capital company , amount profit net , and additional capital. Report balance sheet Through report balance sheet , us Can know conditions , information , and position finance company at the specified time . Three element report This is assets , liabilities ( expenses ), and equity (capital), where assets is liabilities added equity . Report This show is company currently fine just through quantity data riches company , that is amount of cash, bank, receivables , etc. Companies can assessed walk fluent If the cash Enough For fulfil need operational .

Innovate to Survive : Balancing Leadership and Innovation

9. Notes on report finance Notes on report finance is information additions attached to the section final report finance functioning company complete nominal data. The goal from exists part this is for the reader Can evaluate finance company in a way more comprehensive . Besides that , note on report finance help Lots party understand fill report , no only management company so that minimize misunderstanding . Because of that , report This must Can answer development position and circumstances fiscal company , also how matter That achieved .

Studies Case : Reading Success Business Through Report Finance Report finance is Foundation success finance for every business . Report This give outlook important about health financial company , as well give valid and accurate evidence For count obligation taxation . Report finance is also used For taking decision , measurement growth and efficiency , as well as reference main For take decision related to business strategy , allocation source power , investment , and policy other . As For example , PT ABC is A companies operating in the field service consultation . PT ABC compiled report finance every year For evaluate performance finance company . Following is example report PT ABC finances : Report Profit Loss (Income Statement) Income Consultation IDR 1,000,000,000

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Cost Operational

IDR 500,000,000

Gross profit

IDR 500,000,000

Cost Administration

IDR 200,000,000

Cost Tax

IDR 50,000,000

Profit Clean

IDR 250,000,000

Balance Sheet Asset Fluent IDR 1,000,000,000 Asset Still

IDR 500,000,000

Current Debt

IDR 300,000,000

Long -term debt

IDR 200,000,000

Equity

IDR 1,000,000,000

Report Cash flow Cash Inflow IDR 1,000,000,000

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Cash Outflow

IDR 800,000,000

Current Debt

IDR 300,000,000

Long -term debt

IDR 200,000,000

Equity

IDR 1,000,000,000

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From the report finances above , PT ABC can evaluate performance finance company . PT ABC has income consultation IDR 1,000,000,000 and costs operational amounting to IDR 500,000,000, so profit dirty company is IDR 500,000,000. After reduced cost administration and costs tax , PT ABC has profit clean amounting to IDR 250,000,000. Besides PT ABC can also do that evaluate health financial company through balance sheet . PT ABC has asset fluent amounting to IDR 1,000,000,000 and assets still amounting to IDR 500,000,000. Temporary That's good debt company is IDR 300,000,000 and term debt long is IDR 200,000,000. With Thus , equity company is IDR 1,000,000,000. Lastly , PT ABC can also do it evaluate company cash flow through report cash flow . PT ABC has cash inflow amounting to IDR 1,000,000,000 and cash outflow amounting to IDR 800,000,000, so net cash flow company is IDR 200,000,000. From the results evaluation report finance , PT ABC can evaluate performance finance company and take smart decision related to business strategy , allocation source power , investment , and policy other . Therefore that , skill in read report finances are very important For success business .

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Financial Balance and Sustainability: Strategies for a Balanced Viability Plan By : Efan Tri Ahsyar Draft Balance Finance and Sustainability

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This section will discuss the concepts of financial balance and sustainability. Financial balance is a state in which the expenses and income of an entity or individual are balanced, which means the proper use of financial resources. Financial balance is important to achieve financial stability and avoid future financial problems. Meanwhile, sustainability is an effort to maintain the sustainability of the environment and society in the long term. Sustainability involves managing resources efficiently, reducing negative environmental impacts, and involving communities in decision making. The relationship between financial balance and sustainability is that good financial balance can support sustainability. By having balanced finances, an entity or individual can allocate resources efficiently to support sustainable practices. This is why understanding financial balance and sustainability is important and relevant for individuals and organizations in planning a sustainable future. Financial Balance Balance finance refers to the conditions in which income and expenditure finance something individual , organization , or country in harmony . This matter means that income received comparable with expenditure made . In context individual , balance finance can achieved through arrangement budget , wise debt management , and control expenditure . Organizations and countries also need it reach 116

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balance finances for activities operational walk smooth or not experience problem finance . With own balance good finances , individuals , organizations , and countries can avoid risk financial potential harm and achieve continuity in period long . Continuity Continuity refers to ability For maintain and improve quality life man in period long . In context finance , sustainability related with ability For manage source Power finance with wise and responsible answer to be adequate For support life moment this and generation upcoming . Draft continuity involve how far are we? can guard balance between growth economy , protection environment , and equality social . Continuity usually end with a list of useful and considered features as possible predictors system For endure . Because every system No can endure forever , sustainability No can defined as " maintenance forever ". Another factor is fact that evaluation continuity only can done after fact . As a result , focus moment This switch to an approach that allows people to predict with more OK , configuration What will survival , policies , and necessary tools For handle uncertainty . For reach sustainability , we need adopt an integrating approach aspect economic , environmental and social in taking decision at all sector . Importance continuity lies in recognition that source our power have No limited , and we need guard continuity use source Power this so it doesn't detrimental to the future We . The Relationship Between Finance and Sustainability Connection between finance and sustainability are closely linked related . Healthy finances become important foundation For reach 117

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continuity period long . Continuity involve supportive policies and actions environmental , social , and growth sustainable economy . In context this , balanced finances role important in create continuity . With management wise finances , incl use source efficient power and sustainable investment , companies and organizations can ensure continuity period long . Strong finances possible exists investment in initiative environmentally and socially sustainable , at the same time build stability financial requirements For reach continuity . Therefore it , understand and manage connection between finance and sustainability become key important in reach balanced and sustainable goals . Importance Balance Finance and Sustainability Balance finance and sustainability have very important role in development economic , environmental and social . Following is a number of reason Why balance between finance and sustainability are strongly emphasized : a. Long- Run Economic Equilibrium Equilibrium finance and sustainability ensure that growth economy can taking place in a way sustainable without sacrifice source Power natural or trigger inequality excessive economics . b. Balance Environment Continuity focus on preservation environment nature . Balance between finance and sustainability help prevent exploitation source Power natural in a way exaggeration and minimization impact negative to environment . c. Responsibility Social and Business EthicsBusiness that considers continuity No only think about profit financial , but also impact social and environmental from operational

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d.

e.

f.

g.

h.

they . This create culture more business ethical and responsible answer . Innovation and Efficiency Focus on sustainability push innovation in practice business , incl use source more power efficient and development friendly solution environment . Innovation sort of That can leads to profits economy period long . Resilience To Change Climate Balance between finance and sustainability help in build resilience to change climate with reduce house gas emissions glass and push adaptation to impact change climate . Corporate Reputation and Business Shareholders that focus on sustainability can increase reputation them in the eye consumers , investors and stakeholders interest other . Holder share the more evaluate aspect continuity in taking decision investment they . Balance Social and Justice Ensure balance between finance and sustainability are also involved consideration to aspect social and justice . This covers policy fair employment , rights basic people , and benefits positive for community local . Regulation and Compliance The more many countries issue it regulations related sustainability and requires company For report impact they to environment and society . Balance between finance and sustainability help company obey regulation This .

With guard balance between finance and sustainability , companies and society can reach growth sustainable economy while guard balance with environment and aspects social . 1. Impact Imbalance Finance and Sustainability 119

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Balance finance and sustainability becomes very important in environment complex business moment This . Imbalance between finance and sustainability can impact negative impact on performance and growth company . Imbalance finance can cause loss financial , deficit budget , or even bankruptcy . Temporary that 's imbalance continuity can damage image company , cause loss reputation , and results decline interest from the stakeholders interest . Imbalance between finance and sustainability can also own a number impact negative , fine for environment , society and economy in a way whole . Following is a number of possible impact happen consequence imbalance This : a. Damage Environment Imbalance can cause exploitation excessive to source Power nature , deforestation , water and air pollution , as well as lost biodiversity . This can contribute to damage environment and influence vital ecosystem for life man . b. Crisis Climate , If business and government No notice aspect sustainability , yes push house gas emissions tall glass , which is then contribute to change global climate . Change climate can cause disaster nature , ascension global temperature , and disruption ecosystem . c. Inequality Social and Economic, Lack attention to continuity can worsen inequality economic and social . Exploitation source Power nature and inequality in distribution benefit economy can cause conflict social and instability politics . d. Health Crisis , Uses material chemistry dangerous , polluting air , and degradation environment can impact negative on health man . This can cause enhancement disease breathing , health leather , and various problem health other .

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e. Uncertainty Business , Business that isn't consider continuity risky experience uncertainty period long Because dependency on sources no power sustainable . Change climate , scarcity source power , and change regulations can threaten continuity operational company . f. Risk Finance , Imbalance finance and sustainability can create risk financial period long for companies and the economy . Dependence on sources Power limited or not sustainable can presenting risk high supply and price . g. Crisis Food and Water, Disruption to ecosystem and change climate can result crisis food and water, especially in vulnerable areas . Lack source Power food and water available trigger conflict and migration forced . h. Lost Company Credibility , Company that is considered No sustainable can lost credibility in the eyes consumers , investors and society . This can influence image brand and value share company . For avoid impact negative this is important for companies and governments For take balanced action between finance and sustainability . This covers implementation practice business sustainable , policy thoughtful environment , and participation active in effort preservation environment and alleviation inequality . 2. Benefit Balance Finance and Sustainability Balance between finance and sustainability can give a number benefit positive , no only for company , but also for environment and society in a way whole . Following is a number of benefit from balance between finance and sustainability : a. Sustainable Economic Growth Sustainability integration in practice business can create growth sustainable economy period long . This covers use source Power in a way efficient , 121

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b.

c.

d.

e.

f.

g.

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diversified economy , and development friendly industry environment . Maintenance Environment Experience Balance between finance and sustainability help protect and maintain environment nature . Practice business sustainable , like use source Power renewable and management wise waste , helpful guard continuity ecosystem . Innovation Sustainable Focus on sustainability push innovation in technology and practice business . A company committed to sustainability tend look for solution more innovative friendly environmental and efficient in a way economy . Enhancement Efficiency Operational Practice business sustainable often leads to efficiency more operational tall . This covers subtraction waste , use more energy efficiency , and optimization chain supply For minimize impact environment . Reputation and Positive Image of a Company that is committed to sustainability can build a positive reputation in the eyes consumers , investors and stakeholders interest other . This can increase trust and loyalty customers , as well attract concerned investors to factor social and environmental . Investment Attraction Balance between finance and sustainability can increase Power pull investment for company . Investment in projects sustainable can interesting financiers are looking for opportunity investment that is not only profitable in a way financial but also deliver impact positive to environment and society . Resilience To Change Paying attention to company climate continuity tend more stand to impact change climate . They can implement helpful adaptation and mitigation strategies protect assets and operations they from risk related climate .

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h. Enhancement Community Welfare Balance between finance and sustainability can give benefit direct to public local through policy fair employment , investment in education and training , as well contribution positive to well-being general . i. Obedience Regulations Focus on sustainability help company obey regulations increasingly environment strict . This can reduce risk laws and fines related violation environment . j. Subtraction Risk Business Companies considering continuity can reduce risk business period long , incl risk supply , risk reputation , and risk related change climate . With Thus , balance between finance and sustainability No only bring benefit economic , but also supportive objective preservation environment and improvement well-being social . This create more foundation stable and sustainable For business and society in a way whole . 3. Strategy for Reach Balance Finance and Sustainability In reach balance finance and sustainability , there are strategies that can implemented . First , assessment finance and sustainability moment This need done For understand existing conditions . With do evaluation this , got it identified areas of need repaired and strengthened . Next , challenges and opportunities must identified so that it can be formulate effective steps . Challenge like change regulations or competition industry can overcome with plan appropriate action . On the other hand , opportunity like increasing new markets or new technology can utilized For reach balance finance and sustainability . The next step is develop plan balanced suitability . Plan This must includes sustainable financial strategies and goals period corresponding length with objective organization . In development plan this is necessary involve all holder interest For 123

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ensure continuity plan the . With implement the right strategy , balance finance and sustainability can achieved . 4. Implementation Plan Balanced Eligibility •

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Stage Preparation Determine objective period length and target Specific from plan appropriateness . Make sure that objective the covers aspect financial , economic , environmental and social . a. Do SWOT analysis (Strengths, Weaknesses, Opportunities, Threats) for identify strengths , weaknesses , opportunities , and possible threats influence implementation plan appropriateness . This help in prepare more strategies effective . b. Identification possible risks arise during implementation plan eligibility and discover possible opportunities utilized . Develop a strategy for manage risk and take advantage opportunity the . c. Understanding and Awareness , Ensure that all over organization own sufficient understanding about sustainability and importance balance between finance and sustainability . This involve socialization draft sustainability , training employees , and building awareness will benefit period long . d. Evaluation Environment and Risk , Do evaluation comprehensive to internal and external environment organization . Identification associated risks and opportunities with implementation sustainability and balance finance . This covers market analysis , regulation and dynamics industry . e. Financial and Performance Audits , Perform financial audits For evaluate health financial organization . Identify areas for

Innovate to Survive : Balancing Leadership and Innovation

improvement or restructurisation Possible required For reach balance between finance and sustainability . f. Determination Goals and KPIs, Define clear and measurable goals related sustainability and balance finance . Include Key Performance Indicators (KPI) that cover aspect financial and non- financial For measure progress and success . g. Preparation of the Implementation Team Form team special or give not quite enough answer addition to existing team For lead implementation plan balance . Make sure member team own expertise that includes finance , sustainability , and management project . h. Cultural Development Organization Strengthen culture supporting organization values continuity . This involve clear communication about commitment organization to balance between finance and sustainability as well as identify and strengthen supporting values objective the . i. Source Power and Infrastructure Make sure organization own source required power and infrastructure For support implementation plan balance . This including technology information , training employees , and necessary operational process changes . j. Partnership and Engagement Party Third Identification potency partner or involvement party third can support objective continuity . This Can involve suppliers , stakeholders interest external , or organization shared sustainability mark similar . k. Development Plan Implementation For plan detailed implementation that includes steps specific , schedule time , bear it answer , and allocation source Power . Make sure plan the can measured and visualized For makes it easier monitoring and evaluation . 125

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Communication and Engagement Stakeholder Interest Communicate with clear to all holder interest about plan balance and sustainability . Get it support them and make sure there is track communication open For hear input and feed come back . With prepare organization through stage preparation this , implementation plan balance finance and sustainability can walk more smooth and effective . This step help create strong foundation For change sustainable culture and operations . • Stage Implementation Stage implementation in implementation plan balance finance and sustainability involve steps concrete For operate plans that have been arranged . Following is a number of stages key in implementation : a. implement supporting policies and procedures balance finance and sustainability . Make sure that all over teams and departments understand and apply guidelines the in activity daily . b. training and development employee related with aspect continuity . Make sure that employee own necessary knowledge and skills For support implementation plan balance . c. Technology and system integration technology information and infrastructure operational to suit with need plan balance . Make sure that system can support tracking and reporting indicator finance and sustainability . d. Involvement Stakeholder Interest holder interest through meeting routines , presentations , and channels communication other . With involve them , you can build support and get bait valuable return . 126

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e. monitoring performance in a way routine with measure and track indicator financial and sustainability that has been set . Identify areas of need repair or adjustment based on results monitoring . f. flexible and ready For adapt plan If There is constraint or change situation . Constant monitoring and readiness For adapt help guard success implementation . g. Management Risk evaluation possible risks appear during implementation . Identification signs warning and fixed Ready For respond change situation or possible obstacles arise . h. Teamwork and Coordination Effective teamwork and coordination between various the team involved in implementation . Good communication between department help guard integrity plan and achieve desired balance . i. measurement impact social and environmental from activity operational . Evaluation is activity organization give benefit positive and balanced to society and environment . j. Reports and Transparency routine related with performance finance and sustainability . Make sure that report the reflect identified achievements , challenges and improvements during implementation . • Stage Evaluation and Monitoring Stage evaluation and monitoring in implementation plan balance finance and sustainability are very important For ensure suitability with goal , measure performance , and deliver base For repair or adjustment . Following is a number of stage key in evaluation and monitoring : a. Set Clear and measurable Performance Indicators that include aspect finance and sustainability . Indicator This should in

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c.

d.

e.

f.

g.

h.

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accordance with goals and objectives that have been set previously . Monitoring routine to indicator performance that has been set . Determine frequency monitoring , whether That daily , weekly , monthly , or in accordance with need project or initiative . Analysis results monitoring in a way comprehensive . Identification trends , achievements , and potential problem . Compare actual data with targets that have been set For evaluate extent of the organization has reach objective balance . Collect bait come back from various holder interests , incl employees , customers , and partners . Evaluation bait come back This For understand perception and response to sustainability and balance . Evaluation impact environmental and social from activity operational . Identification impact positive and negative , as well possible steps taken For repair impact negative . Internal audit periodically For evaluate obedience to policies , procedures , and practices sustainable that has been set . This audit help ensure that organization are on the right track . Comparison with Standard Industry and Criteria Appropriateness performance organization with standard industry , guidelines sustainability , and criteria relevant eligibility . This help ensure that organization No only fulfil minimum standards , but also try For become leader in continuity . Identification opportunity repair based on results evaluation and monitoring . Review re strategies and plans , as well identification possible steps increase balance finance and sustainability .

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i.

j.

Meeting evaluation in a way routine with team balance and steadfastness interest related . Discuss results monitoring , proposed improvements , and steps to front . Adjustment Plan balance finance and sustainability based on findings from evaluation and monitoring . Make sure that change the documented and communicated in a way effective to all over organization .

Studies Case Case 1: Equilibrium Finance and Sustainability at Company A Company A is companies that have committed For reach balance between finance and sustainability . This company has identify that imbalance between finance and sustainability can own impact significant negative . Therefore that , company A does evaluation to finance and sustainability moment This For identify existing challenges and opportunities . Based on results evaluation this , company A develops plan balanced feasibility that includes strategies for reach balance between finance and sustainability . Implementation plan This involve stage preparation , stage implementation , and stages evaluation and monitoring . Case This explain steps taken by Company A to reach balance between finance and sustainability , as well results have been achieved . Case 2: Challenge in Reach Balance Finance and Sustainability in the Public Sector Case This discuss about challenges faced by the sector public in reach balance between finance and sustainability . One of challenge main is 129

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source limited funding in the sector public . Sometimes , the government must face difficulty in allocate funds appropriately effective for sustainable public programs . Besides that's it , it is increasing needs from public For service quality public also becomes challenge , because can influence condition state finances and potential bother continuity . Therefore the , sector public need look for smart and effective solutions For overcome challenge this is like involve partner private or optimizing use technology in management finance and sustainability .

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Ethical View: Understanding Dilemmas and Opportunities in Business Viability By: Umu Kulsum Understand View Deep Ethical Dilemmas Business

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in everyday life or in the surrounding environment or society. It turns out that we are familiar with the word Dilemma. The word Dilemma is not only something we hear from word of mouth or from someone's mouth to someone's mouth, but of course we have or often feel the word Dilemma ourselves. Here we will discuss the word Dilemma or understand the view of ethical dilemmas in business or doing business. A dilemma is a condition where a person is faced with a difficult condition and which requires the person to make a choice that offers two choices where both choices are equally correct but contradictory so that both are equally difficult to accept, making it difficult for us to make or take that decision. When we face a situation, an ethical dilemma is usually very conflicting, such as in a relationship work , in the organizational environment, stories of love, justice, responsibility, respect and about the truth of personal, social and professional aspects of life . Almost every aspect of business experiences ethical dilemmas. Usually this includes relationships with fellow employees or co-workers, client management and business partners. This situation usually occurs in companies that really value the results of work on their company's business. To solve this problem, companies must develop ethical standards for their employees and companies must also provide special training on ethics to their employees so that ethics can be 131

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implemented properly. Ethical dilemmas are very influential in life because they can help or influence the behavior of an individual or a person in choosing a suitable and appropriate decision. This ethical dilemma arises because of the existence of human reason. In general, ethics in business can be said to be an important thing for companies because it can help interactions. company to remain honest and produce a good product. Overcoming Dilemma Problems in Business Solving dilemma problems in business involves a series of strategies and approaches to solving difficult situations that require choosing between several options that are often equally undesirable or have complex consequences. Here are some key steps to overcome dilemma problems in business: 1. Identify the Dilemma: The first step is to clearly identify the dilemma. This involves a deep understanding of the situation, including the aspects that make up the dilemma and the factors that contributed to the situation. 2. Stakeholder Analysis : Identifying and considering the interests of all parties involved or who will be affected by the decisions taken. This includes shareholders, employees, customers, suppliers and the wider community. 3. Gather Information and Alternatives: Gather all relevant information and explore all available alternative options. It also involves evaluating the pros and cons of each option to understand the consequences better. 4. Use an Ethical Framework in Decision Making: Applying an ethical framework can help in making decisions that not only take into account financial and business aspects but also 132

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5.

6.

7.

8.

moral and ethical considerations. Some commonly used models include utilitarianism , deontology, and the principles of virtue ethics. Consultation with Experts and Advisors: In complex situations, getting input from financial, legal, business, or ethical advisors can provide a new perspective and aid in decision making. Risk and Benefit Evaluation: Identify and evaluate the risks and benefits of each decision option. This involves consideration of short-term and long-term consequences. Make Principle-Based Decisions: Decisions must be made based on the principles and core values of the business, as well as fairness and compliance with applicable laws and regulations. Implementation and Review : Once a decision is made, implement the necessary actions and be ready to review the results of the decision. Always be willing to learn from the situation and adjust future actions.

In overcoming business dilemmas, it is very important to maintain integrity and trust as the main foundation in every decision. Paying attention to both ethical and strategic aspects will help in making responsible and sustainable decisions. Understanding Business Opportunities or Opportunities Before we build a business venture, of course we have to look for opportunities for the businesses we want to run. In building a business, of course business opportunity is something that is very necessary to be able to develop the business. However, this opportunity or business opportunity is included in conditions that 133

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have quite a big risk , because when we want to start and build a business we cannot be completely sure whether the business we are running will be successful and develop or vice versa, so we have to think about it carefully. -ripe. Therefore, we need to be careful before finally making this decision. As we know, if this business opportunity or business is successful, it can generate large profits, especially if we develop it well and correctly, the business we run will be more advanced and develop rapidly. The meaning of the opportunity or business opportunity itself is a condition in which a person express or release ideas in order to provide an opportunity to run a business to its goal in order to achieve success and as many profits as possible . The characteristics of a good business opportunity: a. Have a business that can be long-term or non-seasonal b. Have a suitable and quality business so that it can grow rapidly and the business can last a long time c. Have the right selling price that suits the goods or business you own d. Having a business that is not the same as other businesses Some examples of opportunities or easy business opportunities in today's sophisticated era include: a. Opening a Franchise ( online or in person) b. Online business c. Jasip tripping from abroad d. Beauty business

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Before we start a business, we also have to think about strategies and ideas about the business that will be implemented, several kinds of strategies so that the business runs smoothly, such as: a. Choosing a strategic place or location means the place where we want to create or open a business location so that the location or location is easy for customers and consumers to reach. b. Choose a spacious and clean place. Consumers really pay attention to a spacious and clean place because if the place is spacious and clean, consumers can feel comfortable. c. Choose a business that is currently trending or that is likely to be in high demand for a long time b. Because in this region, consumers currently prefer products that are trending even though they appear to be following regions from abroad because this will affect the level of market sales. a. Choosing good and durable materials so as not to disappoint consumers. The materials or materials used to make a product in a business venture must be of high quality because it will support the value of comfort and shape for users so that the price given is in accordance with the quality of the material. In business opportunities, there are sources of business opportunities. Before we run a business, of course we must have provisions first, both physically and financially. Therefore, both are very important for running a business so that the business is run according to what we want. Some sources of business opportunities include: a. Have broad insight Insight is a condition or provision where we have extensive knowledge so that the business we are going to carry out is

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directed and organized so that we can also know how big the risk of profit and loss is from the business. Having skills or expertise Skills or expertise are abilities or skills that an entrepreneur must have because with all these skills he can do something that will be created in his business. These skills are usually possessed because of experience or having had previous training. Have creative ideas Before we start or carry out a business, of course we must have a creative idea, an idea that will be used to become a business product that will be run because from this idea it is then developed and processed so that it becomes a product. These products must also be products that are in high demand or that are suitable. with market desires in the current era and the area that will bring in the product must survive not only in the short term (current period ) but also in the long term. Have Capital A model is funds or money that are used to run a business. If there is a lack of capital, the business that will be run will not be good. Have Determination and Courage Broad determination and courage if we start a business. We must also have strong determination and courage because with that, the business we run will run optimally or optimally.

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Business Socialization: How Business Feasibility Affects Society and Environment By: Farhan Yudis Tira What That Socialization Business

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usiness socialization is a process in which a business introduces itself, builds relationships, and interacts with various related parties, such as the community, customers, suppliers, and other interested parties. The goal is to create understanding, acceptance and support for the business among the community and surrounding environment. The business socialization process involves a number of communication and interaction activities, including business introduction, communication public, interaction with interested parties, transparent approach, and community participation. Business outreach is very important in forming a positive image, building trust, and gaining support from the community. In the digital information era, social media has also become an important means for disseminating information and interacting with customers and the wider community. By carrying out effective business outreach, a company can build good relationships with various businesses related parties, create sustainability, and achieve long-term success. Unfortunately, there is no single definition or universal consensus regarding the concept of business socialization. However, several experts have their views and contributions to the understanding of business socialization. Here are some approaches and views from some leading experts: 137

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1. Philip Kotler : Philip Kotler , a renowned marketing expert, underscores the importance of building strong relationships between businesses and customers. He emphasizes the concept of sustainable marketing which includes creating long-term value and understanding customer needs. 2. John Kotter : John Kotter , a change management expert, highlights the importance of communication in business socialization. According to him, company leaders must have good communication skills to introduce and explain changes to employees and related parties. 3. Peter Drucker : Peter Drucker , one of the famous management experts, emphasized the need for companies to understand their markets and customers. He suggests that successful businesses are those that can identify and understand customer needs well. 4. Gary Vaynerchuk : Gary Vaynerchuk , an entrepreneur and social media expert, highlights the importance of active engagement in social media for building brands and relationships with customers. He emphasized the need to “follow” the market and participate in online conversations . 5. Michael Porter : Michael Porter , a professor and business strategist, came up with the concept of “net worth” or “social net worth.” He believes that businesses that create positive social value will gain support and acceptance from society. These views reflect the complexity of business socialization, involving aspects such as marketing, communications, change management, 138

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and corporate social responsibility. Business socialization generally involves efforts to build and maintain positive relationships with all related parties in order to achieve long-term success. Business socialization is a process in which a business introduces itself, builds relationships, and interacts with various related parties, such as the community, customers, suppliers, and other interested parties. The main goal of business socialization is to create understanding, acceptance and support for the business among the community and surrounding environment. The business onboarding process involves a number of communication and interaction activities, including: 1. Business Introduction: a. Introduce the business identity, mission, vision and core values that underlie its operations. b. Explain the products or services offered and their benefits to customers. 2. Public Communication: a. Communicate social activities and environmental responsibility carried out by the business. b. Convey the positive impact that business has on local communities. 3. Interaction with Interested Parties: a. Engage in dialogue and consultation with relevant parties, such as local communities, non-governmental organizations, and government agencies. b. Respond to input and feedback from interested parties. 4. Transparent Approach : Maintain a level of transparency in business operations, including environmental management practices and corporate social responsibility. 139

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5. Community Participation: a. Get involved in community activities and support local initiatives. b. Demonstrate commitment to the welfare and development of local communities. Business outreach is very important in forming a positive image, building trust, and gaining support from the community. In the digital information era, social media has also become an important means for disseminating information and interacting with customers and the wider community. By carrying out effective business outreach, a company can build good relationships with various related parties, create sustainability and achieve long-term success. How Business Viability Affects Society Business viability can have a significant impact on society, both positively and negatively. Here are some ways business viability impacts society: 1. Job Creation: Successful and growing businesses tend to create more jobs. This can increase employment rates in local communities and reduce unemployment rates. 2. Community Income and Welfare: An economical and profitable business has the potential to increase the income of local communities. Through salaries and wages, people can experience increased economic prosperity. 3. Tax and Social Fund Contributions: Successful businesses pay taxes, which in turn can be used by governments to finance public services such as education, 140

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4.

5.

6.

7.

health and infrastructure. Apart from that, some businesses also donate to social funds as part of their corporate social responsibility. Local Empowerment: Businesses that focus on local empowerment can provide training, education and support to local communities, helping them become more independent and improving their quality of life. Environmental Effects: Businesses that adopt sustainable and environmentally friendly business practices can help protect and improve local environmental conditions. This includes good waste management, emission reduction, and conservation of natural resources. Community Support: Businesses that are actively involved in community activities or social programs can improve relationships with the community. They can support local events, charitable organizations, or initiatives that advance community wellbeing. Social and Cultural Change: Businesses can influence society by introducing new products or services, or even supporting social and cultural change. For example, businesses that promote diversity and inclusion can contribute to changing social norms.

It is important to note that the impact of business viability depends on many factors, including industry, geographic location, and business strategy. Businesses that are oriented towards sustainability and social responsibility tend to have a greater positive impact on society than businesses that focus solely on financial gain. Therefore, 141

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wise and sustainable business strategies can help create a positive impact and build good relationships with society. How Business Viability Affects the Environment Business viability can have a significant impact on the environment, both positively and negatively. This influence can be felt through operational policies, natural resource management practices, and corporate environmental responsibility. Here are some ways business viability impacts the environment: 1. Sustainable Practices: Businesses that consider feasibility aspects often tend to adopt sustainable business practices. This includes waste reduction, energy efficiency and responsible use of natural resources. 2. Waste Management: Business feasibility can influence how a company views and manages waste. Sustainable businesses will look for ways to reduce waste, recycle materials and adopt environmentally friendly disposal methods. 3. Energy Efficiency: Businesses considering the feasibility of their operations can look for ways to improve energy efficiency. This could involve the use of more efficient technology, investment in renewable energy sources, or policies to reduce greenhouse gas emissions. 4. Use of Natural Resources: Businesses that focus on feasibility often consider the impact of using natural resources. This could include assessing sustainability in supply chains, responsible use of raw materials, and replanting policies. 5. Selection of Operational Location: Business decisions regarding operational locations can affect the surrounding environment. Selecting a location that considers aspects 142

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of ecology, sustainability and environmental impact can reduce negative risks. 6. Technological Innovation: Businesses that consider the feasibility of technology can encourage innovation to create more environmentally friendly solutions. This could include the development of green technologies, such as renewable energy or waste processing technologies. 7. Environmental Responsibility: Companies that understand the viability of their business are often socially and environmentally responsible. They can commit to reforestation programs, ecosystem restoration, or contributions to environmental organizations. 8. Environmental Measurement and Reporting: Businesses that view feasibility holistically tend to measure environmental impacts and report them transparently. This can include reports on emissions, resource use and other sustainability measures. It is important to note that each business will have a different impact depending on the industry, scale of operations, and policies implemented. Businesses that are oriented towards viability and sustainability are likely to create a positive impact on the environment, while those that are not increase the risk of negative impacts. Case study Let's take an example of a case study that illustrates how business viability can impact society and the environment: Case Study: Green Technology Company XYZ 1. Background:

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XYZ Green Technology Company is a company that focuses on developing sustainable technology to reduce environmental impact and provide social benefits. The company produces solar panels, smart waste management systems and other renewable energy solutions. 2. Business Feasibility: a. Economy: •

The company has an economical business model due to increasing market demand for sustainable technologies.

•

Creation of local jobs in production plants and research & development centers. b. Social: •

Providing training and education to local communities about renewable energy.

•

Encouraging sustainability through partnership programs with schools and educational institutions. c. Environment: •

Solar panel production uses environmentally friendly materials and sustainable manufacturing processes.

•

Reduce carbon emissions by supplying renewable energy and efficient waste management technology.

3. Impact on Society and Environment: a. Job Creation and Community Empowerment: • •

Local communities benefit directly from job creation and training in the renewable energy industry.

Partnership programs with schools provide educational and training opportunities in green technology. b. Reduced Environmental Impact: 144

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•

The use of green technology helps reduce dependence on fossil resources and reduces carbon emissions.

•

Recycling initiatives and wise waste management reduce the impact of waste on the environment. c. Awareness and Education: •

Through community campaigns and educational activities, the company increases public awareness about the benefits of renewable energy.

•

Continuing education programs provide knowledge about how to live more sustainably.

4. Conclusion: XYZ Green Technology Company shows that the feasibility of a business that pays attention to economic, social and environmental aspects can create a positive impact on society and the surrounding environment. By integrating sustainability values in their business model, these companies are not only financially successful but also make positive contributions to community welfare and environmental sustainability.

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EDTIOR’S PROFILE Andi Azhar is a lecturer in the Department of Management at Universitas Muhammadiyah Bengkulu. Andi also holds the position of Adjunct Assistant Professor at Asia University Taiwan. Andi's academic focus is on business feasibility studies, marketing, and supply chain management.

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