http://www.thejakartapost.com/news/2009/05/20/idx-concern-investors039-perception.html
Totok Sugiharto | Wed, 05/20/2009 1:36 PM | Supplement
When the modern portfolio theory was popularized by Nobel Prize winner in economics Harry Markowitz, the academic society developed the concept of an efficient capital market (ECM). According to ECM, a market is categorized as efficient if all necessary information is reflected in the value of a particular equity share. Since the 1970s, ECM has been well supported by numerous professors.
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Article - Newspaper Equity Share Values, IDX, SPERTEL
Versi awal tulisan ini telah dimuat di harian Investor Daily
Dalam suatu kelas investasi, mahasiswa kami pernah menanyakan bagaimana caranya investor dapat mengendalikan risiko investasinya apabila mereka menempatkan portfolionya di pasar modal yang berkembang seperti Bursa Efek Indonesia (BEI). Seberapa potensialkah prospek BEI kedepan di mata para investor?
Kami mencoba memberikan pemahaman tentang pentingnya tiga faktor utama yang saling terkait untuk menjawab kedua pertanyaan di atas. Apa sajakah ketiga faktor tersebut? Pertama adalah informasi, Kedua, arus investasi asing yang keluar/masuk ke pasar modal, dan Ketiga adalah sentimen pasar yang tercermin oleh perilaku dari para pemain di pasar modal tersebut.
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Article - Newspaper IDX
Weaving marketing into the fabric of a firm
Totok Sugiharto | Wed, 04/15/2009 1:27 PM | Supplement
http://www.thejakartapost.com/news/2009/04/15/weaving-marketing-fabric-a-firm.html
One of the management challenges in business competition today is to focus on the achievement of operational excellence. Operational excellence is achieved when, compared with competitors, a company generates more revenue and enjoys a higher market share growth with the right amount of stocks at the right place and at the right time with moderate working capital. The focus of operational excellence is not only to achieve sales growth but also the bottom line of economic profit.
Sales and Operating Planning (S&OP) is one of the strategic processes in creating a realistic demand plan, which is achievable by supply that is used by all business functions. The plan starts from listening to the voice of the customer throughout the entire delivery process of product and service by the company. The plan meets general business objectives of the profitability, productivity, inventory or working capital used, competitive customer lead times, assets utilization, etc., as is expressed in the overall business plan.
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Article - Newspaper B2B Integration, S&OP
Totok Sugiharto , Jakarta | Wed, 03/25/2009 1:09 PM | Management
http://www.thejakartapost.com/news/2009/03/25/abc-decisionmaking.html
One of the management focuses in today’s business climate is to scrutinize cost effectiveness for profit building opportunities. In the industry of consumer products, retailers fight for space turnover and focus more on product categories in their trading-term formats.
At the same time, manufacturers fight the carnage of downsizing by seeking growth in market share with distribution coverage expansion and new product launches. All of these create profit building opportunities in the industry.
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Article - Newspaper ABC/M
http://www.suarapembaruan.com/index.php?detail=News&id=5944
David McClelland (1917 - 1998), psikolog terkenal, pada akhir 1961 pernah menulis: “…motivation and performance vary according to the strength of an individual’s need for achievement”.
Menurutnya, ada tiga keinginan seseorang untuk mendapatkan motivasi. Pertama, the need for achievement, yaitu keinginan untuk mencapai sesuatu yang sulit dicapai; Kedua, the need for affiliation, yaitu keinginan untuk menggunakan waktu bagi kepentingan dan aktivitas sosial; Ketiga, the need for power, yaitu keinginan untuk mempengaruhi, melatih, mengajari, dan mendorong yang lain untuk mencapai suatu tujuan.
Dalam kisah pewayangan Mahabharata, Pendeta Dorna merupakan tokoh antagonis yang haus kekuasaan. Dia digambarkan selalu ada dalam setiap waktu terjadinya sengketa dan perselisihan antara para Pandawa dan Kurawa. Dia adalah tokoh kunci yang selalu bermain di air keruh dan mengompori para Kurawa untuk menghalalkan segala cara guna mengalahkan Pandawa Lima.
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Article - Newspaper Organization Behaviour
Process-based organizations: Structure and integration
Totok Sugiharto , Contributor | Wed, 02/18/2009 2:55 PM | Management
http://www.thejakartapost.com/news/2009/02/18/processbased-organizations-structure-and-integration.html
Hammer and Champy (1993) define a business process as “a collection of activities that takes one or more kinds of input and creates an output that is of value to the customer”.
In every organization, the processes are at the very heart because they are the means through which companies create value for their customers. Major processes such as sales, logistics and manufacturing almost always draw on multiple functional skills and cross the external boundaries of the company.
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Article - Newspaper Change Management, Organization Behavior
complete article: http://www.eurojournals.com/irjfe%2010%20totok.pdf
Abstract
This paper provides the results of a survey of investment practices and perceptions by major portfolio investors (fund managers) currently active at the Jakarta Stock exchange (JSX) in Indonesia. The paper also proffers some initial interpretation and analysis of their perceptions of the most important metrics used in valuation and their observation on social, political, economic, regulatory, technological, environmental and legal (SPERTEL) factors that influence the fundamental factors (EM metric) and values of equity shares (EV) of LQ45 firms quoted at JSX. The findings of the survey help to shed light on the adequacy of the information, which JSX provides investors to improve the quality of their hold, sell or buy decisions on their LQ45 portfolio. Besides clarifying investors’ perceptions, the findings of this survey also indicate favourable trading conditions in the JSX and the attraction to the stock market of foreign institutional investors after its revival following the success of democratic presidential election. Fund managers’ consequent positive perception of the economy induced them to invest in equity shares of LQ45 for their expected future values. These investors firmly believed in the SPERTEL factors’ significant positive influence on the future values of their investment. We found inter-relationships among SPERTEL, EM metric and value of equity shares of LQ45, as a basic analysis to support the needs of investors to predict the future value of their investment.
Sugiharto, T., Inanga, E., & Sembel, R. (2007). A Survey of Investors’ Current Perceptions and Valuation Approaches at JSX. International Research Journal of Finance and Economics, 10, 175-206. ISSN-1450-2887.
Publication Emerging Market, Enterprise Multiple, Investors' perceptions, JSX, LQ45, SPERTEL, Valuation
ABSTRAK
Perubahan lingkungan eksternal dan persaingan bisnis yang semakin ketat antar pemain dalam industri Fast Moving Consumer Goods (FMCG) di Indonesia mengakibatkan berubahnya “rules of game” di industri ini, dan semakin menuntut para pemain yang berbisnis di sektor ini untuk melakukan inovasi bisnisnya kedepan. Tulisan ini dibuat sebagai bahan diskusi dan change of knowledge yang mengupas beberapa aspek, baik perubahan lingkungan eksternal dari yang sebelumnya berfokus kepada produk (4P) menjadi fokus kepada pelanggan (4C), maupun perubahan sistem distribusi yang kemudian berfokus kepada demand driven distribution system. Konsekuensi dari berubahnya lingkungan eksternal ini membawa perubahan kepada konsep manajemen perusahaan dari sebelumnya menggunakan product driven concept menjadi market driven organization; berubahnya pola hubungan bisnis antar pemain dalam satu mata rantai distribusi, dan berubahnya strategi bisnis sehingga hanya pemain yang mampu mengaplikasikan manajemen berbasis nilai yang mampu bertahan di bisnis ini.
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Public Speaker Change Management, FMCG, Lean Distribution
This article is made in fulfilling the assignment of DBA program in MSM, Netherlands under the lecture of Behavioral Science of Prof McDonough III and Prof Steve Foster on October 9′ 2003
Title: Catering Technology and Innovation to More Hedonistic Customers in Indonesia: A Perspective on New Product Development and Innovation in Automotive Sector
ABSTRACT: The issue that need to elaborate in this article is that changing in the development of technology and innovation driven by factors such as strategies and competence based on their characteristic, integrated process in manufacturing, perspective to catch customer needs, speed of each manufacturers to deliver the products to market, design of product and quality, cost of productivity and competitive of selling price are becoming key variables affecting the Indonesian hedonistic customers to choose these products.
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Publication innovation, technology
Sharing of Research Proposal:
Extrinsic Value of Share: The Correlation with MVIC and EBITDA (Case of LQ45 quoted at JSX)
Presented on November 6, 2004
Guest Lecturer