The Role of TQM Practice in Improving Business Performance’s Pharmaceutical Industry in Indonesia

The primary purpose of this study is to investigate the role of Total Quality Management (TQM) on business performance in various dimensions. This study proposes a conceptual model that intends to study several research hypotheses. The data were obtained through an online questionnaire, sent to pharmaceutical companies manufactured generic products in Indonesia. The study was conducted based on responses received from 168 valid questionnaires, and it was used partial least squares structural equation modeling (PLS-SEM) to test the hypotheses. Furthermore, we use both of reflective and formative construct with second order/higher order construct in our model of study which is rarely found in the previous study. This research analyzed the dimensions studied in different aspects. TQM variable consists of seven practice, namely management commitment, supplier quality, employee involvement, leadership management, customer orientation, continuous improvement and quality management system, and with respect to business performance, this variable was analyzed through four different perspectives, namely, financial, customer, internal business process and learning & growth. The findings indicate that companies adopt total quality management get improvement in their business performance. Leadership management has greater effect on the successful of TQM practice compared to other TQM dimensions. This study also provides a particular contribution for the companies and expect to be used as feedback related to the execution of their TQM implementation to improve their business performance. Keywords— Balanced Scorecard; Business Performance; Pharmaceutical Industry; Total Quality Management

The Effect of Training Results Perception on Individual Work Performance of Employee Moderated by Intrinsic and Extrinsic Motivation

This study aims at examining the effect of training results perceptions on individual work performance of employee, and intrinsic and extrinsic motivation serving as moderation strengthening that effect. T his study was quantitative research selecting 453 samples out of 1.311 population from PT KAI’s employees in which they are executive officer. The data collection was done using a close questionnaire with Likert scale 1-5. All valid and reliable instruments were assessed through Factor Analysis and Cronbach's Alpha Analysis. Hypothesis testing is carried out using Hierarchical Regression Analysis by including the Multicollinearity test as a prerequisite for analysis. The study results showed that training result perceptions and extrinsic motivation simultaneously or partially have a positive and significant effect on individual work performance of employee, but intrinsic motivation have no significant effect. Intrinsic or extrinsic motivation does not moderate or strengthen the relationship between training result perceptions and individual work performance of employee. The three independent variables are not related to each other. PT KAI’s employees, especially those in executive position, are more oriented towards extrinsic results than intrinsic ones. The implication for PT KAI is that to improve the individual work performance of its employees, the organization can focus on improving training, external motivation or both. It depends on the vision, long-term goals, and resources of PT KAI.

The Relationship Between Financial Literation Towards Users Of Loan Transacted Applications In The Millennial Generation

This study aimed to find a relationship between financial literacy and the use of loans transacted for the millennial generation—qualitative approach research method. The population in this study is the millennial generation in Bandung who have made loans transacted. The sample used was 270 people with a non-probability sampling technique with the criteria of users of online loan fintech products. The analysis technique used is a simple correlation and regression test. The results obtained show a significant influence between financial literacy variables on loans transacted with a t-value of 6,947. While the results of the correlation test state that the contribution of financial literacy to loans transacted has a contribution of 0.567, meaning that there is a fairly close relationship in terms of positive linear correlation value (r = 1), which means that every increase in financial literacy can increase the level of loans transacted. Keywords—; Fintech; Financial Literacy; Loans transacted Applications;Millenial

The Influence Of Financial Stressors, Financial Behavior, Risk Tolerance, Financial Solvency, And Financial Knowledge On Financial Satisfaction Of Working Age Population

Financial satisfaction is the ultimate goal of individuals who work hard and manage their finance. Working-age is the time when individuals are considered able to work and earn, yet they tend to fail to meet the expected financial satisfaction due to several factors. This research aims to test the influence of financial stressors, financial behavior, risk tolerance, financial solvency, financial knowledge on financial satisfaction. This research includes all important variables (financial stressors, risk tolerance, and financial solvency) that can determine financial satisfaction. The participants in this research were 100 respondents, selected by convenience sampling, from the working-age population in Jakarta, the capital city of Indonesia, who gave the biggest contribution to the economy. The data were analyzed by using multiple linear regression analysis. The findings show that financial stressors, financial behavior, risk tolerance, financial solvency, and financial knowledge simultaneously had a significant influence on financial satisfaction. Partially, only risk tolerance and financial knowledge variables affect financial satisfaction. The findings imply that the working-age population should manage financial stressors, financial behavior, risk tolerance, financial solvency, and financial knowledge properly to improve financial satisfaction reflecting financial welfare.

An Industry 4.0: Strategy Direction Of An Airline Operations Performance

Air transport is an industry 4.0 sector of priority that continues to evolve as the era becomes the backbone of a country's economy. The opening of the economic market in all regions of the world has increased the complexity of air transportation, including in Indonesia. In this decade as the development of technology and the 4.0 industry, the air plane remains the choice of people to explore the world and also the movement of people from one place to another is rapidly secured funds. The strategy to compete with the airline is to improve flight image in Indonesia by improving the performance of aviation operations. This research aims to analyse and evaluate the performance of aviation operations in Indonesia from the company's perspective. The survey method was conducted through the dissemination of questionnaires to respondents with purposive sampling techniques netted 200 aviation employees in Indonesia. The data collected is processed using the Structural Equation Model - Partial Least Square. The results showed; Strategy direction proved to affect process management, process management proved no effect on operation performance, strategy direction has no effect on Operation performance, strategy direction proved to affect human resources management, human resource management proved to be no impact on Operation performance, Process management proved unable to fully mediation the relationship between strategy direction with operating performance, HR management proved not to fully mediation the relationship between strategy direction to operating performance. So it can be said the strategy direction of the company directly affects the flight operation performance. Keywords— Strategy direction; process management; human resource management; operation performance

Analysis of Innovation Strategies to Improve the Quality of Infrastructure in Public Organisation using the Technical Evaluation and Decision Square (TEDS) Method

This paper aims to analyze and discuss the implementation of innovative strategies in a public higher education institution in Indonesia. Analysis is undertaken by using Total Evaluation and Decision Square (TEDS) Method, which employs [a] Total Financial Management (TFM), [b] Total Content Management (TCM), [c] Total Process and Project Management (TPPM), and [d] Total Stakeholder Management (TSM) as the focus of analysis. The study is a qualitative study with the descriptive approach. Data and information were collected by using in-depth interview to the dean of the faculty and leaders of the department in the faculty as informants. Results of the interview were further analysed by using thematic analysis to get insights related to the topic of study. It can be inferred that the institution has already undertaken positive and beneficial innovation strategies. However, they are not effectively undertaken. This can be seen in the results of this study which show positive indicators in the parameters of Total Content Management (TCM), Total Process and Project Management (TPPM) and Total Stakeholder Management (TSM). The parameter of Total Financial Management (TFM), however, shows negative result in innovation strategy. The study reflects the actual condition of higher education institutions in Indonesia regarding institutional funding, and it further implies that the institution needs to be more innovative in finding suitable and reliable funding resources (apart from regular/yearly institutional budget as being provided by the Indonesian central government) to undertake its major tasks by law, which are [a] education, [b] research and development activities, as well as [c] the community development-empowerment activities. Keywords— TEDS method; total content management; total financial management; total process and project management; total stakeholder management

Integrating TAM, VAM, PAM and Security Perception in The Intention of Fintech Service Usage

This study is meant to develop a TAM (Technology Acceptance Model) by integrating a VAM (Value-based Adoption Model), PAM (Pos Acceptance Model) and security perceptions. The frameworks of the theories are expected to deeper explain the perspective perceived by fintech services users in terms of security, perceived value, benefits, and satisfaction in using fintech. Survey through a quantitative approach combined with explanatory research in Madiun Residency. The results showed that all hypotheses proposed in this study were accepted. Security is the main requirement for people to continue or discontinue using fintech services. Perceived value is a comparative result influenced by the amount of sacrifice that is given and the perceived benefits. People who are satisfied and tends to assume that the fintech service is valuable, will most likely continue using the fintech service. Therefore, it can be concluded that TAM, VAM, PAM and security perceptions are a unified whole in understanding one's behaviour in adopting technology such as fintech services. Keywords-TAM; VAM; PAM; Security Perception; Fintech

Emotional Dynamics, Dialogue, And Organizational Innovativeness Of Indonesian Private Tv Stations

Currently, researchers tend to suggest a socially based approach to address the challenge of innovation rather than an economic approach which often fails to address the challenge. This study examines the relationship between emotional dynamics as an independent variable, organizational innovativeness as the dependent variable, and dialogue as a mediator in Indonesian private television broadcasting institutions. Data is collected from 132 respondents who are creative workers at Indonesian private tv stations. Prior to hypotheses testing, this study conducted a factor analysis to check the construct validity of all variables under study. This study used multiple regression analysis to examine direct relationships and two-step hierarchical regression to examine mediating effect. The results show that emotional dynamics have a significant effect on organizational innovativeness and dialogue. The results also show that dialogue partially mediates the relationship between emotional dynamics and organizational innovativeness. This study found that organizational innovativeness can be achieved by those who apply: an open culture, a climate of discussion about new ideas, and a climate of mutual respect. The study also reveals that dialogue is a very important tool that mediates the relationship between open culture and organizational innovativeness. This study proposes that organizational age and the influence of national culture need to be considered for further research on social-based innovation. Keywords: emotional dynamics, dialogue, organizational innovativeness, Indonesian private tv stations

Marketplace as A Determination Factor for Customer Satisfaction

The research aims to analyze the main factor determining Chinese Smartphone Customer Satisfaction. The population of this research were all customers who purchased Chinese smartphones in Surakarta, Semarang, Pemalang, Purworejo, Grobogan. The sampling technique used purposive sampling by taking 200 official store customers and 200 black-market customers. The data collection method was a survey by personal questionnaire with an data analysis used multiple linear regression and different tests (independent sample T-test). The results obtained several findings that the price perception, product quality, and marketplace significantly affect customer satisfaction. Finally, there are differences in customer satisfaction felt purchased Chinese smartphones in the official store with the black market. Keywords— Chinese smartphone; Customer Satisfaction; Product Quality; Price Perception; and Marketplace.

Does The Efficient Market Theory In The Weak Form Exist? Evidence From Indonesia

In the weak-form market efficiency theory, investors cannot predict the movement of all prices because of randomness. This circumstance happens because of a quick market reaction to new information. Conversely, suppose the market is not efficient in this shape; in that case, the investors can obtain an abnormal return. One of the reasons is the thin market, where many inactive stocks to be traded are available. Based on these issues, this research intends to examine this theory by employing runs testing on the daily returns of the Indonesia Composite Index (ICI) between January 2014 and December 2018 for each year and a whole. Once performing this test, this research demonstrates that the daily returns of the ICI are random for both situations. By denoting these facts, this research concludes that the capital market in Indonesia is efficient in a weak form and experiences a decrease in the thin level, reflected by the escalation in trading frequency, volume, and value, as well as the number of dynamic shares transacted. This research suggests that investors without sufficient information should utilize the service of the securities analysts to select the stocks they buy and sell to get the capital gain. Keywords – an efficient market in the weak form; market index return; runs test; thin market