Jurnal Siasat Bisnis https://journal.uii.ac.id/JSB <p style="text-align: justify;"><strong>Jurnal Siasat Bisnis/Journal of Strategy and Business (JSB)</strong> is a peer-review journal published twice a year (January and July) by Management Development Centre (MDC) Department of Management, Faculty of Business and Economics Universitas Islam Indonesia. JSB addresses the broad area of management science and its applications in industry and business. It is particularly receptive to research relevant to the practice of management within the emerging regions and its effects beyond. It covers studies on how management work is done (descriptive) and/or should be done (normative) in diverse organizational forms, either in profit or non-profit firms, private or public sector institutions, or formal or informal social networks. We welcome qualitative studies with high-quality, rigorous methods, and a strong impact on the field.</p> <p style="text-align: justify;"><strong>Accredited by Ministry of Research, Technology &amp; Higher Education of The Republic Indonesia, Decree No. 158/E/KPT/2021</strong></p> <table border="0" cellspacing="0" cellpadding="3"> <tbody> <tr> <td bgcolor="#ffccdd"> <p style="text-align: justify;"><strong>ANNOUNCEMENT</strong></p> <ol> <li><strong>Per July 2019, JSB only receives manuscripts in English</strong></li> <li><strong>Per Volume 26 (July 2022), the article processing charge for an accepted manuscript is IDR. 2,500,000</strong></li> </ol> </td> </tr> </tbody> </table> Management Development Centre (MDC) Department of Management, Faculty of Business and Economics Universitas Islam Indonesia en-US Jurnal Siasat Bisnis 0853-7666 <p>Authors who publish with this journal agree to the following terms:</p><ol><li>Authors retain copyright and grant the journal right of first publication with the work simultaneously licensed under a<a title="Creative Commons Attribution-ShareAlike 4.0 International License" href="https://creativecommons.org/licenses/by-sa/4.0/" rel="license" target="_blank"> Creative Commons Attribution-ShareAlike 4.0 International License</a> that allows others to share the work with an acknowledgement of the work's authorship and initial publication in this journal.</li><li>Authors are able to enter into separate, additional contractual arrangements for the non-exclusive distribution of the journal's published version of the work (e.g., post it to an institutional repository or publish it in a book), with an acknowledgement of its initial publication in this journal.</li><li>Authors are permitted and encouraged to post their work online (e.g., in institutional repositories or on their website) prior to and during the submission process, as it can lead to productive exchanges, as well as earlier and greater citation of published work (<a href="http://opcit.eprints.org/oacitation-biblio.html" target="_blank">See The Effect of Open Access</a>).</li></ol> Revealing the power play: Unraveling the dynamic environment's influence on intangible resources and sustainable competitive advantage https://journal.uii.ac.id/JSB/article/view/29011 <p><strong>Purpose – </strong>The objective of this study is to examine the impact of the dynamic environment on the relationship between intangible resources and sustainable competitive advantage in large and medium-sized manufacturing firms operating across various sectors.<br /><strong>Design/methodology/approach –</strong> The research sample was selected using cluster random sampling, which is based on company size, namely large and medium-sized companies only, totalling 257 companies as the unit of analysis. A questionnaire was utilized to collect data. While the study employed residual technique and the Hayes (2012) method for variable assessment, the primary method used was a causal analysis.<br /><strong>Findings –</strong> The findings indicate that the dynamic environment does not act as a moderating variable, implying that the sustainability of the organization is unaffected by the firm’s dynamic environment.<br /><strong>Research limitations/implications –</strong> Research findings can play a pivotal role in corporate strategy, enabling companies to reach a sustainable competitive advantage by closely monitoring environmental changes. <br /><strong>Practical implications –</strong> This research can assist companies in developing business strategies that are more adaptive to environmental changes, enabling them to actively monitor and identify emerging opportunities and threats. By doing so, companies can take appropriate steps to maintain their competitive advantage.<br /><strong>Originality/value –</strong> Previous researchers have rarely conducted this research, primarily due to a lack of understanding on how to effectively connect dynamic environments with intangible resources in order to achieve sustainable competitive advantage.</p> Muhammad Wadud Rahmat Copyright (c) 2024 Muhammad Wadud Rahmat https://creativecommons.org/licenses/by-sa/4.0 2024-01-26 2024-01-26 1 18 10.20885/jsb.vol28.iss1.art1 Gamification aspects affecting mobile app continued use, attitude, and satisfaction https://journal.uii.ac.id/JSB/article/view/30370 <p><strong>Purpose –</strong> The aim of this study is to shed light on the factors influencing continued use, attitude, and satisfaction with gamified mobile app usage. A research model is proposed, featuring achievement, social, confirmation, ease of use, enjoyment, recognition, and social influence as independent variables. Dependent variables encompass continued use, attitude, satisfaction, motivation, and usefulness.<br /><strong>Design/methodology/approach –</strong> Data were collected from 1,633 respondents who use gamified shopping apps. Hypothesis testing was conducted using path analysis, and the Bootstrapping method was used to test the significance level of each relationship.<br /><strong>Findings –</strong> Results indicate that achievement and social factors have a positive impact on motivation. Motivation, confirmation, and usefulness all positively influence satisfaction. Usefulness is shaped by confirmation and ease of use. Moreover, usefulness, ease of use, and social influence positively correlate with attitude and continued use. Contrarily, neither enjoyment nor recognition appeared to influence attitude or continued use.<br /><strong>Research limitations/implications –</strong> This study did not incorporate frequency and personal traits into the model. While the results are particularly relevant to shopping apps, their applicability may extend beyond this context. Future research could consider frequency and personal characteristics as moderating variables and sample objects from varied industries.<br /><strong>Practical implications –</strong> When developing gamification strategies, businesses ought to take into account both utilitarian and social aspects of gamification. It's vital to understand user expectations, prioritize user-friendly gamification interfaces, and promote positive word-of-mouth.<br /><strong>Originality/value –</strong> This research enriches both the gamification and marketing literature by introducing a model grounded in gamification elements, human motivation theory, and the expectation-confirmation paradigm. It underscores the pivotal role of utilitarian and social facets in shaping usefulness, motivation, satisfaction, attitude, and continued app use. Notably, this work paves the way for further exploration into the roles of enjoyment and recognition.</p> Sahid Susilo Nugroho Copyright (c) 2024 Sahid Susilo Nugroho https://creativecommons.org/licenses/by-sa/4.0 2024-01-29 2024-01-29 19 36 10.20885/jsb.vol28.iss1.art2 The smart effort to build up an innovative organizational culture in a skincare company https://journal.uii.ac.id/JSB/article/view/29975 <p><strong>Purpose –</strong> The research objective was to examine the predominant errand of work engagement (WE) and the physical work environment (PWE) in the development of innovative organizational culture (IOC) by contemplating the mediating factors of innovative work behaviour (IWB) and employee performance (EP).<br /><strong>Design/methodology/approach –</strong> The research was conducted through a questionnaire survey of all employees of PT. Alzena Skincare Indonesia, 175 people who produced quantitative primary data. Through the PLS-SEM high-level analysis, the validity and reliability of the questionnaire were checked, and each research hypothesis was evaluated in detail.<br /><strong>Findings –</strong> The research results showed that an ‘IOC’ in a skincare company can be developed, and ‘WE’ is the principal aspect. However, it was still essential for the company to heed the ‘PWE’. The partial mediating role of ‘IWB’ and ‘EP’ accelerated the formation of an ‘IOC’. Meanwhile, serial mediation of ‘IWB’ and ‘EP’ only supported ‘WE’ in building ‘IOC’, not the ‘PWE’.<br /><strong>Research limitations/implications –</strong> This research was still limited to PT. Alzena Skincare Indonesia employees, so the results cannot be generalized to other types of businesses. Thus, further research is compulsory to test the research model on other objects and look for other factors that can encourage creation of an innovative organizational culture.<br /><strong>Practical implications –</strong> The practical implication of this research was that skincare company managers need to build ‘IOC’ by strengthening ‘WE’ and improving the ‘PWE’ that supports it. These two factors created ‘IWB’ and improved ‘EP’, ultimately forming an ‘IOC’.<br /><strong>Originality/value –</strong> It still needed to uncover research that examined the effect of ‘WE’ and the ‘PWE’ on ‘IOC’, especially if it was serially mediated by ‘IWB’ and ‘EP’. So, the complex model was the main novelty of this study.</p> Yunus Handoko Widiya Dewi Anjaningrum Copyright (c) 2024 Widiya Dewi Anjaningrum, Yunus Handoko https://creativecommons.org/licenses/by-sa/4.0 2024-02-05 2024-02-05 37 55 10.20885/jsb.vol28.iss1.art3 Profitability and dividend policy: How does free cash flow explain this relationship? https://journal.uii.ac.id/JSB/article/view/29183 <p><strong>Purpose –</strong> This study aims to examine the possible explanations for the inconsistency between profitability and dividend policy association. It also aims to carefully investigate the explanations of the free cash flow regarding the profitability-dividend policy relationship while specifying the shape of the moderating variables.<br /><strong>Design/methodology/approach –</strong>This study uses LQ45-listed enterprises as research sample and adopt hierarchical moderating analysis as our methods. This study also uses 10-year observations from 2012-2020 with 170 firm-years observations represented by 17 companies.<br /><strong>Findings –</strong> The results showed a positive association between profitability and dividend policy, suggesting that higher profit was capable of inducing firms to provide more dividend payments for the stockholders. Furthermore, increasing free cash flow strengthened the profitability-dividend policy relationship and it play a role as a pure moderator between both variables. <br /><strong>Research limitations/implications – </strong>As this study use LQ45 sample firms, the interpretation from the research funding should be carefully made and generalizations should be done with caution. Also, current study does not include managerial characteristics as potential factors to influence dividend policy due to data limitation. <br /><strong>Practical implications –</strong> This study provide implication for managers by suggesting that the free cash flow condition of a company may be essential for deciding dividend payout policy when firms can create good profitability. Firms need to maintain its fee cash flow level to gain benefit as a driver to create favorable dividend policy for stockholders. <br /><strong>Originality/value –</strong> This study adds essential contribution to the moderating role literature by distinguishing the type of moderating role of free cash flow on the relationship between dividend policy and profitability. In addition, this study also incorporates hierarchy regression analysis which is different from prior similar study. </p> Yeni Januarsi Fauji Sanusi Copyright (c) 2024 Yeni Januarsi, Fauji Sanusi https://creativecommons.org/licenses/by-sa/4.0 2024-02-12 2024-02-12 56 70 10.20885/jsb.vol28.iss1.art4 Reputational risks management and mitigation: Empirical evidence from the wedding organizer sector https://journal.uii.ac.id/JSB/article/view/31519 <p><strong>Purpose –</strong> The purpose of this research is to identify and determine reputation risk mitigation strategies that may arise in the business processes of wedding activities at Lifetime Organizer Bogor. A poor reputation for a wedding organizer can drive consumers to switch to competitors with a better reputation. Therefore, effective reputation risk management is crucial for wedding organizers.<br /><strong>Design/methodology/approach –</strong> This study employs the Risk Assessment Godfrey method and Flanagan &amp; Norman Risk Response Analysis. Risks are identified through direct observation at multiple weddings organized by Lifetime Organizer, in-depth interviews with the owner and field coordinators, and the distribution of questionnaires to partner vendors and consumers of Lifetime Organizer. The risk assessment is calculated using a comprehensive approach that combines qualitative and quantitative elements, facilitated by questionnaires, and processed through geometric mean calculations.<br /><strong>Findings –</strong> The findings in this study contain mitigation action strategies for risks with high and extreme risk levels. These mitigation strategies are organized based on implementation that aligns with the company's needs and resources, thereby enabling the company to proactively prevent the occurrence of such risks.<br /><strong>Research limitations/implications –</strong> In this study, the identified risks pertain to factors that may influence the company's reputation. Since reputation is a subjective perception held by individuals, it introduces subjectivity in the process of identifying and evaluating risks. It is anticipated that in future research endeavors, this aspect will be duly considered and addressed.<br /><strong>Practical implications –</strong> The research holds significant practical implications for wedding organizers, providing a tailored approach to reputation risk management. The proposed strategies, informed by the risk assessment framework, empower companies to navigate the dynamic event planning industry effectively, fostering long-term success and resilience.<br /><strong>Originality/value –</strong> This study contributes novelty by adapting and applying established risk assessment methods to the specific context of the wedding planning industry in Indonesia. The findings offer a unique perspective on reputation risk management, providing valuable insights for both industry practitioners and researchers in developing countries.</p> Bayu Iskandar Syamsul Maarif Widodo Ramadyanto Copyright (c) 2024 Bayu Iskandar Bayu, Syamsul Maarif Syamsul, Widodo Ramadyanto Widodo https://creativecommons.org/licenses/by-sa/4.0 2024-03-04 2024-03-04 71 87 10.20885/jsb.vol28.iss1.art5 Exploring Indonesian Panic Buyers’ Typologies in Time of Covid-19 Pandemic https://journal.uii.ac.id/JSB/article/view/32415 <p><strong>Purpose</strong> – This study aims to investigate hitherto unresearched panic buyer (shopper) typologies among Indonesian consumers as a result of the COVID-19 outbreak. In this study, a panic buyer (shopper) is described as a customer who worries about their stock during a pandemic and decides to purchase things in bulk or in greater quantities at the start of the pandemic.</p> <p><strong>Design/methodology/approach</strong> – To identify probable groupings of the items, an exploratory factor analysis is carried out using principal component analysis and varimax rotation. Then to identify consumer groups, a two-step cluster analysis was conducted. Lastly, an ANOVA test is run on the whole set of variables to identify differences between the detected clusters in order to validate the cluster solutions.</p> <p><strong>Findings</strong> – Five components that served as the foundation for the typology emerged from exploratory factor analysis. Using behaviour and attitude factors including "consumption savers," "adapters reluctant," "preservers of social consciousness," "online shopping shifters," and "all-around adapters," five clusters were then defined.</p> <p><strong>Research limitations/implications</strong> – This study contributes significantly to the body of knowledge on consumer behavior during health crises (Covid-19) by putting into context the frantic shoppers that we frequently observe during these situations. It's noteworthy that throughout the epidemic, no panic buyers (shoppers) voiced worry about health problems.</p> <p><strong>Practical implications</strong> – This study provides essential practical information for marketing professionals. For instance, it may be necessary to consider research showing that panic buyers (shoppers) tend to be consumption savers during a pandemic when developing a price plan.</p> <p><strong>Originality/value</strong> – Despite the fact that there have been many studies on panic behavior during COVID-19, most of them tend to concentrate on medical problems. There are now a few studies that examine several sorts of panic buyers (shoppers) based on their purchasing behaviors and attitudes. By categorizing various categories of panic buyers (shoppers) among 121 decision-makers in families, this study aims to close this literature gap.</p> Ambar Lukitaningsih Arif Hartono Copyright (c) 2024 Ambar Lukitaningsih, Arif Hartono https://creativecommons.org/licenses/by-sa/4.0 2024-04-11 2024-04-11 88 102 10.20885/jsb.vol28.iss1.art6 The moderating effect of income diversification on intellectual capital and company performance: Case study of banking in Indonesia https://journal.uii.ac.id/JSB/article/view/31572 <p><strong>Purpose –</strong> This research aims to examine the influence of intellectual capital on company performance, analyze the moderating effect of revenue diversification, and provide additional insight into intellectual capital.<br /><strong>Design/methodology/approach –</strong> This research uses 38 banks in Indonesia that are listed on the Indonesia Stock Exchange (BEI) out of a total of 47 banks as research samples. The collected data was analyzed using linear regression and moderated regression analyses to test the effect of intellectual capital on company performance and the moderating impact of income diversification on intellectual capital and company performance.<br /><strong>Findings –</strong> The results of the regression analysis show that intellectual capital (VAIC) has a positive effect on company performance. In contrast, income diversification is having a moderating impact on intellectual capital and company performance. The intellectual capital component has varying influences on company performance. Whereas VACA has a positive effect on company performance, VAHU also has a positive effect on company performance. In contrast, STVA does not affect company performance. Based on the moderation test, income diversification does not moderate the relationship between intellectual capital components and company performance.<br /><strong>Research limitations/implications –</strong> This research uses the VAIC method to measure intellectual capital using financial report benchmarks. Future researchers should consider using new techniques that are more accurate and comprehensive in measuring intellectual capital. Thus, further research will provide a more precise picture of intellectual capital's influence in improving banking companies' performance.<br /><strong>Practical implications –</strong> This research shows that banking activities with an intellectual capital orientation tend to improve company performance. So, it is recommended for banking companies to utilize and develop the intellectual capital they have.<br /><strong>Originality/value –</strong> This research provides an understanding of intellectual capital. This research also contributes to developing economic theory related to intellectual capital and company performance.</p> Eko Wahyuningtias Ratih Kusumawardhani Copyright (c) 2024 Eko Wahyuningtias, Ratih Kusumawardhani https://creativecommons.org/licenses/by-sa/4.0 2024-04-22 2024-04-22 103 115 10.20885/jsb.vol28.iss1.art7 The role of financial accountability control in improving financial performance https://journal.uii.ac.id/JSB/article/view/27731 <p><strong>Purpose –</strong> This study aims to describe the effect of diversity of knowledge and financial capabilities on accountability for behavior control and improvement of financial performance.<br /><strong>Design/methodology/approach –</strong> The population in this study were all branches of the Baitul Maal Wat Tamwil Sharia Savings and Loans Cooperative (KSPPS BMT) in Central Java. The sample used purposive sampling to obtain 146 respondents. Data were analyzed using the Structural Equation Modeling (SEM) analysis technique with the application of Analysis Moment of Structural (AMOS 24).<br /><strong>Findings –</strong> The results of the study explain the increase in financial performance based on Behavioral Accounting Theory and Human Resource Management Theory. The behavior control accountability model shows that perceived interest and intention in self-confidence to control accountability behavior as indicated by behavioral intention, perceived behavioral control, process and financial accountability can affect financial performance<br /><strong>Research limitations/implications –</strong> Where the factors of diversity of knowledge and financial capability in shaping accountability for behavior control and impact on financial performance will offer a deeper understanding of the supporting factors for accountability for behavior control and also have an impact on efforts to improve financial performance.<br /><strong>Practical implications –</strong> A better understanding of the factors influencing improvement efforts should assist accountants in information processing, quality of judgments, accounting problems that arise with accounting users and preparers, and the use of information in accounting decision making.<br /><strong>Originality/value –</strong> Using and explaining about improving financial performance based on Behavioral Accounting Theory and Human Resource Management Theory. The behavior control accountability model shows that perceived interest and intention in self-confidence to control accountability behavior as indicated by behavioral intention, perceived behavioral control, process and financial accountability can affect financial performance</p> Arini Novandalina Ibnu Khajar Nunung Ghoniyah Copyright (c) 2024 Arini Novandalina, Ibnu Khajar, Nunung Ghoniyah https://creativecommons.org/licenses/by-sa/4.0 2024-05-14 2024-05-14 116 130 10.20885/jsb.vol28.iss1.art8