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INTRODUCTION TO BUSINESS

Functions of Financial Management 1.Estimation of capital requirements:&nbsp;A finance manager has to make estimation with regards to capital requirements of the company. This will depend upon expected costs and profits and future programmes and policies of a concern. Estimations have to be made in an adequate manner which increases earning capacity of enterprise. 2.Determination of capital composition:&nbsp;Once the estimation have been made, the capital structure have to be decided. This involves short- term and long- term debt equity analysis. This will depend upon the proportion of equity capital a company is possessing and additional funds which have to be raised from outside parties.

Why are digital ecosystems important? Recently, many organizations strategies have incorporated digital transformation. No matter where in the digical Journey a company is, it is essential that a digital outside the company. The digital ecosystem allows an organization to focus its energies on facilitating business value by removing any frustrations Linked to outdated, Legacy 828 services. Furthermore, digital ecosystems add value to customer relationships by helping companies surface expectations. ecosystem is established to improve performance and assist with interactions consistently meet service-Level agreements (SLAS), provide fast fixes and quickly surface expectations

Although the traditional supply chain is Sell the foundation of most companies, the new model - digical ecosystems -- 15 transforming the world of business by creating near paths between suppliers and customers, thus creating new business opportunities.

Digital ecosystems are also transforming supply chains Supply chains that originally functioned in separate markets are coming together in digital ecosystems to support the development of new products and services creating supplier ecosystems.

VALUE PROPOSITION This element is an explanation and details of the advantages of the product; what are the actual points that can bring benefits that the company offers to its target customers? This is an opportunity for you to describe the strengths and advantages that distinguish your business from other businesses or the uniqueness of your business. CHANNELS Through the use of channels or marketing tools, you can only convey value propositions to customer segments. So, you can start thinking about channels that you want to use well, because determining channels is one of the important elements for the success of a business. For example, you can market your business through social media, brochures, websites, and others

The first element that you must have in starting a business model canvas is to determine which customer segments will be the target of the business. For example, an airline releases 2 products to meet the needs of 2 different customer segments, or there are 2 television stations that present 2 different shows to meet different customer segments.

Green zig-zag pattern

ABOUT OPEN TRAVEL BUSINESS

This business is a place where you can enjoy indonesian nature by not needing to prepare equipment and eating again because we have provided everything, of course, by following our open trip ,safety and comfort of customers are the main thing

HOW DO I START BUSINESS?

because one of them is my hobby of climbing mountains and I've been thinking about how to make money from my hobby, after I found out what an open trip is, think an open trip is a trip that anyone can take provided he is ready to follow the existing requirements and regulations.

THE INFLUENCE OF THE DIGITAL ECOSYSTEM ON THE BUSINESS WORLD

The Influence of the Digital Ecosystem on the Business World The digital ecosystem world will be very customer-focused, with users having a seamless experience from start to finish. The ecosystem will consist of diverse players providing digitally accessible, multi-industry solutions. These ecosystem relationships will in turn enable companies to better meet customer expectations. The internet, the power of advanced data analysis, and the maturity of artificial intelligence (AI) give consumers the best solutions, delivered in milliseconds According to Mckinsey, by 2025, there will be approximately US$ 60 xillion in annual revenue distributed globally The amount wes-one-third of the company's total revenue. in the world in that year

CHAPTER	6 DIGITAL BUSINESS					55

CHAPTER	11 BUSINESS PLAN		 	 	 	 104

CHAPTER	7 DIGITAL BUSINESS					67 TRANSFORMATION

CHAPTER	12 PROMOTION AND				 116 PRICING OF GOODS AND SERVICES &amp; FINANCIAL REPORTS

CHAPTER	8 DIGITAL ECOSYSTEM					73 AND FINANCIAL TECHNOLOGY

CHAPTER	13 FINANCIAL	 	 	 	 	 127 MANAGEMENT

CHAPTER	9 MANAGING OPERATIONS		 	 86 &amp; SUPPLY CHAINS

CHAPTER	14 THE INFLUENCE OF				 137 THE DIGITAL ECOSYSTEM ON THE BUSINESS WORLD

CHAPTER	10 DIGITAL MARKETING		 	 	 91

A business can be described as an organization or enterprising entity that engages in professional, commercial or industrial activities. There can be different types of businesses depending on various factors. Some are for-profit, while some are non-profit. Similarly, their ownership also makes them different from each other. For instance, there are sole proprietorships, partnerships, corporations, and more. Business is also the efforts and activities of a person who is producing goods or offering services with the intent to sell them for profit.

Types of Businesses Various businesses are organized per some type of hierarchy or bureaucracy. In these businesses, the positions have a customary role and responsibility.

This dynamic is caking place in the high- tech, media, and telecommunications sectors, supported by the tech giants who have built platforms that run entire. ecosystems. Companies are expanding their product and service offerings like never before to meet the ever-increasing customer expectations. They also forge alliances with other companies, even their competitors, to create a complementary network of offerings and services What are the steps required to enter the digital ecosystem? First, adopt an ecosystem mindset Companies must improve their vision and as company leaders try to ask themselves questions such as "How can we secure what we have and put forward advantages compared to our competitors

Second, follow the data In ends borderless world data is like a coin or currency Competing effectively means collecting Large amounts of data and developing the ability to store, process and translate that data to actionable Business insights

Walmart Being of the most successful retailers globally, Walmart is a multinational corporation that runs a chain of hypermarkets offering a huge variety of products ranging from family apparel to housewares. It is present in 24+ countries and has millions of employees worldwide.

What to do before starting a business? One needs to take various steps before starting a business. One must conduct market research first and then develop a business plan. The next step must be to seek capital or other funding and select a location and business structure. It is also important to pick the right name, complete the registration process, and get the tax documents and essential permits. A bank account is a must before starting a business.

How can one start an online business? An online business is different from a traditional business. You need to design your website after your market research, business plan development, and paperwork formalities. After that, start finding ways to build up your target market and engage your audience with social media platforms.

What is business plan? Business plans help run your business and secure the fund needed to start the operations. There are two ways- traditional business plan or lean business plan. The former is full of details like the company’s summary, plan for success, product information, sales projections, etc. The latter one is not that detailed but has necessary information like details of the partnership, cost structure, revenue stream, and more.

How to get a business loan? First, decide the type of loan your business needs and then choose from where you will get it. Your options are the traditional lender, online operator, government-backed loans, or more. Make a business plan, present it to the lender, and ensure your credit score is good. Having collateral will also help in securing a loan.

Types of Fintech in Indonesia ng&gt;Peer-to-peer Lending The first type of fintech is peer-to-peer Lending. financial services that provide Loans for business capital or meet needs. The existence of this fintech example helps business actors to obtain capital quickly online. However, you still have to be wary of fintech such as Loans that have the potential to deceive their customers. Make sure you choose a Legal online Loan. You can see the official OJK fintech list on the OJK official website. ng&gt; Crowdfunding Crowdfunding is a fintech product as a platform to bring together parties who need funds and donors with guaranteed safe and easy transactions. Crowdfunding is not only used in collecting donations, but also in developing businesses to find investors and business people. E-Wallet

The next type of fintech is a digital wallet, also known as an e-wallet. This fintech product plays a role in providing a place to store money electronically for its users. The purpose of the fintech product in the form of an e-wallet is to make it easier for users to disburse funds for transactions in other applications, such as marketplaces, merchant apps, and the Like

WHAT IS DIGITAL BUSINESS?

In this modern era,&nbsp;digital business&nbsp;has become important and must be studied by all business people.&nbsp;Because, businesses that don't want to go digital will not be able to survive against the swift flow of technology and competition from various other businesses. Many large companies have been forced to close because they were too late to transform into the new world.&nbsp;The good news is that now every businessman no longer needs to worry, because most new businesses are now definitely accompanied by&nbsp;a digital platform&nbsp;. If you are currently one of the company's business managers, then this is the right time to check your business systems.&nbsp;Changes that occur in almost all aspects of life towards digital is one proof of the important role of this field.

Just as the name suggests,&nbsp;digital business&nbsp;is a business that uses various digital equipment or can be said to be a business that has been digitally transformed.&nbsp;In general,&nbsp;digital business&nbsp;is a business that uses technological sophistication to create a product or market its products.

Objectives of Financial Management The financial management is generally concerned with procurement, allocation and control of financial resources of a concern. The objectives can be- 1.To ensure regular and adequate supply of funds to the concern. 2.To ensure adequate returns to the shareholders which will depend upon the earning capacity, market price of the share, expectations of the shareholders.

1.To ensure optimum funds utilization. Once the funds are procured, they should be utilized in maximum possible way at least cost. 2.To ensure safety on investment, i.e, funds should be invested in safe ventures so that adequate rate of return can be achieved. 3.To plan a sound capital structure-There should be sound and fair composition of capital so that a balance is maintained between debt and equity capital.

To continue to get Loyal customers companies must bond with their customers intensely. It needs strict and intensive supervision so that customers don't easily turn to other businesses just because of a bad relationship. Make sure your business customers get the best service. You also have to know how your business can keep in touch with customers. For example, you can send newsletters,services after sales, and the like to your customers on a regular basis.

Are all activities related to business productivity related to a product, where the main activity is to produce a value proposition. This point is needed as one of the most important business strategies that you must do to make this element of the&nbsp;business model canvas&nbsp;work. Where, the main activities must be directly related to the company&nbsp;'s value&nbsp;propositions. Where, if these&nbsp;key activities&nbsp;are not related to&nbsp;value propositions&nbsp;, then something is wrong, because the activities that you consider most important do not provide value to customers.

This element serves to organize the flow of goods or other services. position partners are useful for the efficiency and effectiveness of the key activities that have been. There's nothing wrong with establishing good relationships to create a business cycle according to expectations. right? You can work with several companies or other businesses to improve your business performance so that it increases faster.

It focuses on the objectives of the plan and the selling proposition in less than two pages.

It provides an accurate illustration of the company, its ownership, and the historical background.

Basic Components of a Business:

A formal business plan should state that the business will produce sufficient revenue to meet up the expenses and will generate a mentionable profit for the investors. The basic components of a business plan are briefly discussed below.

This part gives a brief description of the products and/ or services and their merits or strengths.

It gives a summary of the existing customers, market size, competitive landscape and probable growth of the market.

What is&nbsp;Digital Marketing?

Definition&nbsp;of Digital Marketing&nbsp;According to Experts

The definition of digital marketing&nbsp;is a marketing activity or promotion of a&nbsp;brand&nbsp;or product using digital media or the internet. The goal&nbsp;of digital marketing&nbsp;is to quickly attract consumers and potential customers. As we know, the acceptance of technology and the internet in society is very broad, so it's no wonder that digital marketing activities are the top choice for companies. As a result, companies compete with each other to create interesting content to be displayed in their marketing in cyberspace. Some examples of marketing techniques included in&nbsp;digital marketing&nbsp;are SEO (&nbsp;Search Engine Optimization ),&nbsp;online&nbsp;advertising&nbsp;such as FB ads and Google Ads, print media promotions, television and radio advertisements,&nbsp;electronic&nbsp;billboards ,&nbsp;email marketing&nbsp;,&nbsp;mobile marketing&nbsp;, and others.

1. Ridwan Sanjaya &amp; Josua Tarigan (2009) Digital marketing&nbsp;is marketing activities including&nbsp;branding&nbsp;using various media. For example,&nbsp;blogs&nbsp;,&nbsp;websites&nbsp;,&nbsp;e-mail&nbsp;,&nbsp;adwords&nbsp;, and various social media networks. 2. Kleindl and Burrow (2005) The definition&nbsp;of digital marketing&nbsp;is a process of planning and implementing concepts, ideas, prices,&nbsp;promotions&nbsp;and distribution. In simple terms, it can be interpreted as the development and maintenance of mutually beneficial relationships between consumers and producers. 3. Heidrick &amp; Struggles (2009) Digital marketing&nbsp;uses the development of the digital world to do advertising that is not heralded directly but has a very influential effect.

Given that technology is neither intrinsically good nor bad, one final advantage a Human Transformation approach offers is the way in which it puts the people building something, why they're building it and who they're building it for front and center of the development process. By explicitly taking into account how technological design and development impacts people's behaviors, attitudes, emotions and beliefs, HTT is that much better positioned to ensure technology respects and supports humans, rather than extracts from and exploits them.

The Human Side of Digital Transformation Attracting and retaining digital talent is critical. But it is equally important to maintain the right type of organizational structure and culture to support collaboration, flexibility, and speed. SKILSS First, digital companies hire the best employees they can afford and integrate them across multiple fields so that results from one area can be shared with others. Digital productivity and collaboration tools help employees bring digital products to market with greater speed and agility.

How Is Promotional Pricing Used—And by Whom?

Promotional pricing&nbsp;is a popular strategy for consumer brands, including retailers, airlines, gyms, restaurants, and service providers. B2B companies also use their own variety of promotional pricing. Brands use promotional pricing to:

Promotional pricing is a popular sales strategy. In fact,&nbsp;80% of marketers say that promotions and discounts are important in their customer acquisition strategy. Yet the popularity of promotional pricing actually devalues a brand when it’s overused. Most marketers use mass discounting tactics—they offer the same promotions to everyone, creating even more noise in a crowded, competitive marketplace.&nbsp;Instagram has 2 million active advertisers, and digital marketing experts estimate that&nbsp;most Americans are exposed to 4,000 to 10,000 advertisements a day.

- Create buzz when launching a new product or service. - Reward loyal customers. - Increase customer traffic. - Encourage repeat business. - Move excess inventory.

In 2020, the government is planning a "Proud Made in Indonesia" program to increase consumption and the creative industry. One method is to use e-commerce to promote Locally made products, so that not only many people use them, but also people are proud to use Locally made products.In addition, he explained the importance of having Indonesian talent, be ready for the digital transformation This is because in the future, a Lot of labor will be replaced by machines. Indonesia itself digital transformation. Therefore, the participation of the millennial generation 1s necessary to be able to increase digital transformation readiness. including digital talent, business actors, and basic domestic potential! ranks 45th in terms of readiness for digital transformation. Therefore, the participation of the millennial generation 1s necessary to be able to increase digital transformation readiness. including digital talent, business actors, and basic domestic potential!

So currently the government is planning to increase human resources in terms of digital talent, including strengthening the start-up economy to support digital entrepreneurs. increasing connectivity as the backbone of the digital economy, and making various initiatives, policies, and regulations. There are also challenges in digital transformation, including the lack of talented human resources and the concentration of industry in the Java region especially west Java and Jakarta. However, the millennial generation has different thoughts than before, which are more futuristic, so they are expected to be able to build wider networks and have broad insights about Indonesia and its vast resources In this digital era, it is necessary to change conventional businesses to online businesses.

- Operations management ensures that products meet the quality standards and customers’ expectations. Thus, satisfied customers also mean customers buy from you again and referrals, which further improves brand value, giving a competitive edge in the market. - Operations management includes recognizing and optimizing the processes included in the production of services or goods, which can help cut costs. Thus, operations management facilitates selling more products/services and reducing costs, which means increased revenues and enhanced growth of an organization. - Operation management motivates the employees toward their roles and improves employee productivity.

Blue geometrical pattern

The first stage is that we must understand and empathize with the problem we are going to solve. It could also be at this stage that we collaborate with related experts to get more information. We can also make observations and engage in various activities until we finally have. personal experiences It is important to downplay assumptions and broaden our understanding of the needs and wants of the stakeholders having problems (aka end users)

Following the collection of data and information in the previous stage, we define the core problem with the team at this stage. Create a problem statement that focuses on the end user. As an example, instead of saying, "How do we increase 5% income in the target market of workers," we should say, "Employees need the right tools to develop their skills so that their lives become easier. The defining stage will help the team understand the problem more easily and think of ideas as a solution to the problem. Great ideas. can be functions, new features in the application, or completely experimental forms that haven't existed before

OVO was originally founded by Lippo Group and started operations in 2017. received an e-money permit from Bank Indonesia to operate as a fintech throughout Indonesia on September 25, 2017. In December 2017, it was announced that Tokyo Century Corporation invested USD 116 million of funds for a 20% stake in the startup Furthermore, in 2018 it was reported that Grab also invested in OVO. Then in 2019 the media announced that the e-commerce Indonesian Tokopedia had invested in Ovo In October 2021, Grab increased its stake in Ovo. Grab and a number of local investors, bought Ovo shares from Tokopedia and Lippo Group. Grab's ownership is reported to be 79.5% with the remainder owned by investors.

Digital Ecosystem? What is a Digital Ecosystem? a digital ecosystem comprises stakeholders, systems, and an enabling environment that, together, empower people and communities to use digital technology to access services, engage with each other, and pursue economic opportunities Building on this concept, the Agency created a framework that retines the ecosystem into a practical structure for development practitioners

Segment-Specific Promotions.&nbsp;An effective promotional pricing example targets certain buyer segments, such as students, teachers, seniors, or the military.&nbsp;CheapCaribbean, a travel company that provides low-cost luxury vacation packages in the Caribbean, Mexico, and Central America, offers gated, personalized promotions to nurses. When the brand launched its first nurses program, it brought 8,000 new nurses into its travel club and reduced fraud by 36%.

Types&nbsp;of Digital Marketing

4. Cheap and Effective Compared to traditional marketing, of course&nbsp;digital marketing&nbsp;is much cheaper and more effective. Budget costs can be saved by up to 40%, according to Gartner's Digital Marketing Spend Report. In addition, the survey also shows that 28% of small entrepreneurs will switch to digital because it is proven to be more effective. 5. Build a&nbsp;&nbsp;Brand Name Digital marketing&nbsp;helps you build a good&nbsp;brand&nbsp;name . The existence of cyberspace with the existence of your&nbsp;brand&nbsp;is very important because people will do&nbsp;online&nbsp;searches before buying your product.

1.&nbsp;Websites The website&nbsp;plays a very important role in showing company professionalism, helping consumers find out about your business, economical promotion and easy business media. 2.&nbsp;Search Engine Marketing Efforts to make the company's&nbsp;website&nbsp;easy to find in search engine systems. Search Engine Marketing&nbsp;is divided into&nbsp;Search Engine Optimization (SEO)&nbsp;and&nbsp;Search Engine Marketing (SEM)&nbsp;. SEO is done by yourself, which takes longer and is cheaper, while SEM is paid but faster.

Promotional Pricing Types &amp; Examples A promotional pricing definition or promotional discount definition covers a wide range of promo pricing tactics, including:

A&nbsp;survey&nbsp;found that when it comes to customer acquisition, nearly 1 in 4 marketers—the most respondents among six categories—say differentiation from competitors is their most challenging problem. The urgent need to stand out is driving more frequent promotions across industries, but in a marketplace overrun with competing ads, they’re inadvertently adding to the noise.

Buy One Get One Free (BOGOF). To celebrate Youth Soccer Month,&nbsp;Chipotle&nbsp;customers who wore a youth soccer jersey could “score” a buy-one/get-one-free entree or kid’s meal during Labor Day weekend.&nbsp;

Types of Business Ethics:

There are several theories regarding business ethics, and many different types can be found, but what makes a business stand out are its&nbsp;corporate social responsibility&nbsp;practices, transparency and trustworthiness, fairness, and technological practices.

The Digital Ecosystem Framework is organized around three separate,overlapping pillars: Digital Infrastructure and Adoption. the resources that make digital systems possible and how individuals and organizations access and use these resources. Digital Society, Rights, and Governance. how digital technology intersects with government, civil society, and the media. Digital Economy. the role digital technology plays in increasing economic opportunity and efficiency Digital Ecosystem framework encompasses four cross-cutting topics: Inclusion reducing disparities in access and the "digital divide" Cybersecurity protecting information against damage, unauthorized use or modification, or exploitation. Emerging Technologies, encompassing artificial intelligence. Internet of Things, blockchain, 50 and other new technologies Geopolitical Positioning, the influence of authoritarian states that are actively working to shape the global digital space

Types of Digital Ecosystem Digital ecosystem is divided into 3 types, namely: 1 The Digitizer Ecosystem This ecosystem has a focus on digitizing existing products with assistance from business partners, while also maintaining Low managerial complexity. The digitizer ecosystem can add new functionality to a system and create digital service revenues. 2. The Platform Ecosystem This ecosystem focuses on connecting users with smart devices in a platform while ensuring high service levels and limiting bottlenecks. from using the platform This ecosystem creates a revenue stream 3. The Super Platform Ecosystem This ecosystem focuses on integrating multiple platforms into a single integrated service, while retrieving user data from platforms The super platform ecosystem provides a wide range of user data and converts that data into revenue using a side

Meaning of Financial Management Financial Management means planning, organizing, directing and controlling the financial activities such as procurement and utilization of funds of the enterprise. It means applying general management principles to financial resources of the enterprise

Scope/Elements of Financial Management 1. Investment decisions&nbsp;includes investment in fixed assets (called as capital budgeting). Investment in current assets are also a part of investment decisions called as working capital decisions. 2. Financial decisions-&nbsp;They relate to the raising of finance from various resources which will depend upon decision on type of source, period of financing, cost of financing and the returns thereby. 3. Dividend decision-&nbsp;The finance manager has to take decision with regards to the net profit distribution. Net profits are generally divided into two: a. Dividend for shareholders-&nbsp;Dividend and the rate of it has to be decided. b. Retained profits-&nbsp;Amount of retained profits has to be finalized which will depend upon expansion and diversification plans of the enterprise.

WHAT IS DESIGN THINKING?

Design thinking is more than just a process; it opens up an entirely new way to think, and it offers a collection of hands-on methods to help you apply this new mindset. In essence, design thinking:

Design thinking is an iterative process in which you seek to understand your users,&nbsp;challenge assumptions, redefine problems and create innovative solutions which you can prototype and test.&nbsp;The overall goal is to identify alternative strategies and solutions that are not instantly apparent with your initial level of understanding.

-Revolves around a deep interest to understand the people for whom we design products and services. -Helps us observe and develop&nbsp;empathy&nbsp;with the target users. -Enhances our ability to question: in design thinking you question the problem, the&nbsp;assumptions&nbsp;and the implications. -Proves extremely useful when you tackle problems that are ill-defined or unknown. -Involves ongoing experimentation through sketches, prototypes, testing and trials of new concepts and ideas.

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Digital Marketing&nbsp;Strategy

3.&nbsp;Social Media Marketing Distribute&nbsp;platforms&nbsp;on social media such as Facebook and Twitter because it can be done at a minimal cost or even for free. This of course can enhance the company&nbsp;'s brand&nbsp;. 4.&nbsp;Online Advertising Media promotion through the internet with paid.&nbsp;This can get consumers more quickly and satisfactorily but somewhat more expensive than the previous type. 5.&nbsp;Email Marketing You can provide the latest information regarding ongoing promotions or the latest products or services. 6.&nbsp;Video Marketing This way, you can get straight to the point about your business, explaining the products and how to use them and featuring customer testimonials.

1.&nbsp;Search&nbsp;Engine Optimization (SEO) SEO is an attempt to optimize a site to get the top ranking of search results. To be top ranking, you need to understand how search engines work.&nbsp;Media that can be used such as&nbsp;websites&nbsp;,&nbsp;blogs&nbsp;and indographics. 2. Content&nbsp;Marketing Plan, create and share content about the company.&nbsp;This is to attract readers to know about the business and motivate them to become buyers. This content can be made in the form of&nbsp;&nbsp;blog posts&nbsp;, social media, articles,&nbsp;e-books&nbsp;, indographics and&nbsp;online&nbsp;brochures .

There are generally 12 business ethics principles:

Principles of Business Ethics:

It's essential to understand the underlying principles that drive desired ethical behavior and how a lack of these moral principles contributes to the downfall of many otherwise intelligent, talented people and the businesses they represent.

Leadership The conscious effort to adopt, integrate, and emulate the other 11 principles to guide decisions and behavior in all aspects of professional and personal life. Accountability Holding yourself&nbsp;and others responsible for their actions. Commitment to following ethical practices and ensuring others follow ethics guidelines. Integrity Incorporates other principles—honesty, trustworthiness, and reliability. Someone with integrity consistently does the right thing and strives to hold themselves to a higher standard.

Micro Finance Fourth, the type of fintech is micro finance. Micro finance is a fintech company service that helps the lower middle class to support their lives and finances through the provision of financial services. Payment Gateway The fifth type of fintech is payment gateway. Payment gateway is a fintech system that authorizes payments through online transactions. An example of fintech in this payment gateway is paypal.

Investment As fintech develops, the investment process can be done easily. Many investment instruments migrate through online applications so that investors can easily invest their capital. Digital Bank The last type of fintech is a digital bank, which is a bank that 100% of transactions are done digitally, from account registration to asset management. Digital banks are different from mobile- bankingtransactions m-banking stilL related to offline banks, while digital banks are 100% electronde.

What is operations management?

MANAGING OPERATIONS 					&amp; SUPPLY CHAINS

Simply put, operations management is the administration of business activities to accomplish goals, achieve higher productivity, and maximize profitability. Operations management is the branch of management that administers the complete production timeline of a service/ product from the input stage to the finished stage, including planning, organizing, and supervising the operations, manufacturing and production processes, and service delivery to lead to the desired outcome of high-quality product/service that meets the demands of the customers.

Business plans can be basically of&nbsp;two types:

A detailed document mainly prepared for the purpose of ensuring outside finance for the business.

A&nbsp;business plan&nbsp;is considered to be an important device for any business. It is a document in writing which illustrates in detail the nature, objectives and financial position of a business, particularly a new one and the way it will achieve its objectives. A business plan can also be prepared for an established business which is changing its area of operation or applying for a business loan or funding request.

A rough plan which may contain hand-written notes helping the owners in the daily functioning of a business and planning for expansions.

ORGANIZATIONAL STRUCTURE Once companies have accumulated a few wins with digital transformation practices, they often reorganize to break down departmental silos and form cross-functional teams dedicated to serving customers. The next step is to intentionally create an organizational structure that fosters purpose, autonomy, and mastery. CULTURE Cultivating a culture of innovation and continuous improvement through top-down insight-based decision making is important. Data and technology will only take companies so far. Culture and leadership must be at the heart of change. With the right organizational culture, almost anything can be achieved.

Marketing Strategy and Implementation:

This section explains the marketing strategy of the products and/ services and its implementation and future possibilities.

Summary of the Management:

This part briefly summarizes the background, experiences and key achievements of the management team.

Objectives of a Successful Business:

A successful business has the following objectives:

Financial Projections:&nbsp;

This section consists of financial statements such as balance sheets, income statements, cash-flow statements and funding request (if required).

- Providing a clear business concept written in an understandable and precise language. - The business plan should have a logical structure. -Explaining the management’s capability to achieve success. -Showing profitability so that investors will be interested to invest in the business.

3. Choice of sources of funds:&nbsp;For additional funds to be procured, a company has many choices like -Issue of shares and debentures -Loans to be taken from banks and financial institutions -Public deposits to be drawn like in form of bonds. Choice of factor will depend on relative merits and demerits of each source and period of financing. 4. Investment of funds:&nbsp;The finance manager has to decide to allocate funds into profitable ventures so that there is safety on investment and regular returns is possible. 5.Disposal of surplus:&nbsp;The net profits decision have to be made by the finance manager. This can be done in two ways: - Dividend declaration - It includes identifying the rate of dividends and other benefits like bonus. - Retained profits - The volume has to be decided which will depend upon expansional, innovational, diversification plans of the company.

6. Management of cash:&nbsp;Finance manager has to make decisions with regards to cash management. Cash is required for many purposes like payment of wages and salaries, payment of electricity and water bills, payment to creditors, meeting current liabilities, maintainance of enough stock, purchase of raw materials, etc. 7. Financial controls:&nbsp;The finance manager has not only to plan, procure and utilize the funds but he also has to exercise control over finances. This can be done through many techniques like ratio analysis, financial forecasting, cost and profit control, etc.

Small Business There are different sizes of business. Small businesses are companies where small owners (an individual or a small group) operate. For instance, family restaurants, clothing companies, home-based companies, and publishing companies. In this type of business, the profits are not that high but just enough to continue the business operations. Mid-sized Business These businesses rake in millions of dollars in revenue. Usually, it ranges from $50 million to $1 billion. They are established better than a small business. The employee base of these businesses ranges from 100 to 999 people. For instance, Colorbar Cosmetics is a mid-sized business. Large Business This kind of business usually operates as a corporation. It has an employee base of 1000+ people, and its revenue production is more than $1 billion. Usually, these businesses issue corporate stock to finance their operations.

Thus, it is publicly traded. As a result, it must report on certain things and operate restrictions. This is the opposite of a small business, where operations are independent of regulators. Amazon and Walmart are examples of large businesses.

Business Industries There are different industries in which businesses operate. A certain company can define its business by the particular industry. For instance, there are industries of real estate, agriculture, advertising, banking, and more in which businesses exist.

2.TYPE OF SUBSCRIPTION BUSINESS

If the marketplace model business only prepares a platform to bring together sellers and buyers, this type of e-commerce Digital Business provides products as well as special media to sell the products they make. For example, a soap company creates a website so that buyers can order their soap online on that website.&nbsp;Or another example is a fast food restaurant that makes a special application so that customers can order food from their menu via the application online.

Businesses that utilize this type of digital media are actually widely known by the people of Indonesia.&nbsp;Because there are many businesses that operate on a domestic subscription model such as Netflix, Office, Amazon Prime, Disney+, Zoom, and many more. This business model is very similar to the old days, where we subscribed to newspapers or magazines for content that was sent every week to every month.

Operations Management – A Core Aspect of Every Business

Project management involves unique but temporary endeavours with a specific beginning and end. On the other hand, operations management involves ongoing activities of an organization that produce repetitive and long-term outputs such as supplying services or manufacturing products. Defining what is operations management for a particular field is essential as it is vital in every field. Operations management aims to ensure that the day-to-day operations are smooth, cost-effective, and well-timed while maintaining critical quality standards.

Importance of Operations Management Operations management is the heart of any organization. Below are pointers that would explain the importance of operations management.

- Operations management oversees the complete operating system of an organization. - Operations management&nbsp;is essential for organizations to manage their daily activities seamlessly. - Operations management controls all the processes and handles issues including design, operation, maintenance, and improvement of the systems. It also maintains smooth, effective, timely production of products and services even when unexpected situations arise. - Operations management helps improve the reputation of an organization and thus has a positive influence on its capability to achieve growth and stability goals.

WHAT IS A BUSINESS MODEL CANVAS?

WHY YOU NEED A BUSINESS MODEL CANVAS?

The business model canvas is a business management framework created to design how the business strategy will be executed As the name implies, the canvas business is created in a simple Framework that was first created by Alexander Osterwalder An entrepreneur from Switzerland, in 2005 With a simple framework, the canvas business model will make it easier for you to see an overview of a business idea and plan its realization quickly So, much more concise than a business plan That's why a business model canvas needs to be created to discuss your business idea and develop it. Not only that you can also make decisions faster whether your business idea is profitable to continue or not

1. The BMC provides a quick overview of the business model and is devoid of unnecessary details compared to the traditional business plan. 2. The visual nature of the business model canvas makes it easier to refer to and understand by anyone. 3. It's easier to edit and it can be easily shared with employees and stakeholders 4. The business model canvas can be used by Large corporations as well as startups with Just a few employees 5. It clarifies how different aspects of the business are related to each other.

This can be explained through the results of a survey conducted by Hootsuite (we are Social) in 2021, which stated that Internet users in Indonesia reached 202 6 million people or 75.7% of the total population of 274.9 million people

Business Definition

As per business definition, we see that different types of businesses are:

Business refers to an enterprising entity or organization that carries out professional activities. They can be commercial, industrial, or others. For-profit business entities do business to earn a profit, while non-profit ones do it for a charitable mission. Business ownership includes partnerships, sole proprietorships, corporations, etc. Businesses can be small-scale or large-scale. Some of the biggest businesses in the world are Amazon and Walmart.

Sole Proprietorship In this kind of business, a single person owns and operates the business. There isn’t any kind of legal separation between the owner and business. Thus, the onus of legal plus tax liability is on the owner. Partnership As the name suggests, it is a business where two or more people run it together. The partners bring in resources and money, and then the shares in the profit or loss are divided amongst them. Corporation In this business, a group of individuals act together as a single entity. The owners in this business are called shareholders. They discuss their views on the common stock of the corporation. There are unfavourable taxation rules in a corporation for the business owners.

The elements referred to in&nbsp;this business model canvas&nbsp;are the partitions which are the advantages of the product, what are the actual points that can bring benefits that a business or company can offer to its&nbsp;customer segment&nbsp;. This is an opportunity for you to describe the strengths and advantages that differentiate your business from other businesses.

Revenue stream&nbsp;is the most vital part, where the organization earns revenue from customers. This element&nbsp;of the business model canvas&nbsp;(BMC) must be managed as much as possible to increase business revenue. There should not be any raw material, product or performance that is not utilized optimally.

The channel&nbsp;referred to here is any media or means that you can use to deliver your product or service. Channels&nbsp;&nbsp;or channels are how you can convey your product to consumers. Through the use of the right&nbsp;channels&nbsp;&nbsp;, you can only convey&nbsp;value propositions&nbsp;to&nbsp;customer segments&nbsp;. This is one of the important elements of the business model canvas. So, try to think about the&nbsp;channels&nbsp;that you want to use well, because channel determination is one of the important elements for the success of a business.

A key resource or resource is an element in the business model canvas that contains a list of resources that should be planned and owned by the company The goal is to realize the value proposition. When creating a business model, you have to pay attention to all types of resources, from raw material management to human resource management to operational process management because this will have a Long-term impact on your business

Green geometrical pattern

Managing costs effectively will increase the efficiency of your business and reduce the risk of Loss It can also define the right value proposition for the customer Therefore make sure you make appropriate and appropriate financial reports for your business

DOING BUSINESS WITH MODEL CANVAS

Loyalty Programs.&nbsp;A loyalty program is a rewards program a company offers to its customers who frequently make purchases. Since it costs&nbsp;five to 25 times more to acquire a new customer than it does to retain an existing one, loyalty programs are a popular type of pricing promotion. The&nbsp;Virgin Atlantic Flying Club&nbsp;allows members to earn points that move them up to different tiers. The higher the tier, the greater the benefits.

Seasonal Tie-Ins.&nbsp;Certain times of the year, such as Black Friday, Cyber Monday, or Veterans Day are a good fit for promotional pricing.&nbsp;U.S. News &amp; World Report&nbsp;offers a shopper’s guide on the best months to find the best deals. (Hint:&nbsp;Memorial Day is prime time for appliance shopping.)&nbsp;

Fintech is an abbreviation of financial technology which means financial technology. So actually what is fintech is a technological innovation developed in the financial sector so that financial transactions can be carried out practically, easily, and effectively

Development of Fintech in Indonesia Along with the rapid development of technology and the growth of startup companies, the development of fintech in Indonesia is also getting bigger. Indonesia's fintech technology began in 2006, but unfortunately at that time there were still very few companies in this field. When the Indonesian Fintech Association was founded in 2015, Indonesian fintech trust began to grow among the public. As a result, fintech companies in Indonesia have grown so rapidly that 140 companies are listed on the OJK fintech list. It doesn't stop there, in 2017 sharia fintech has developed again. Sharia fintech is a type of fintech that operates on the basis of Islamic principles.

1.Delivering a better consumer experience

3.Facilitates data collection and analysis

Advances in technology have a positive impact on the way companies interact with consumers and potential customers. The technology involved not only facilitates the interaction process, but can also improve services that are more targeted and in accordance with the needs of each consumer.&nbsp;As a result, consumers will feel more satisfied thereby providing additional quality value for the company.

Convenience has become synonymous with the use of digital technology.&nbsp;This does not only apply to consumers, but also to the company.&nbsp;Businesses that have undergone digital transformation have proven easier to collect and analyze data needed for business development. Business strategies will generally be adjusted to consumers' online habits when searching for and exploring the things they need.

2.Improve employee skills

4.Open opportunities for digitalization of products and services

Company employees or employees are also the ones who benefit if your business takes advantage of digital technology. When companies start embracing digital concepts and implementing them in every operational process, employees will also develop their skills so they can deliver work results as expected.&nbsp;This is one of the important points that can improve the quality of the company's work as a whole.

Once they get market data and analyze it based on benchmarks of digital transformation principles, the company will be able to digitize every product and service it presents. As digital business evolves, consumers want to always get what they need instantly and hassle-free.&nbsp;They will also look for companies that can do this.&nbsp;This is where digitalization of products and services emerges to play an important role

- Provides assistance while applying for a business loan. - Helps in raising equity funding. - Sets and defines objectives and design program to attain those objectives. - Provides a scope for regular modification of the plan and business review. - Clarifies agreements between partners (if any). -Defines the value or principle of a business for sale or legal processes. -Analyze the scope for promotion and expansion of the existing business.

A business plan should be dynamic in a sense that it will grow and change with the growth of the business as well as with the requirement of time and technology. An effective business plan and its proper implementation can lead a business to the success. So a business owner should be very careful while creating a business plan that it properly defines its objectives and effectively helps to achieve those.

3.BUSINESS TYPE AD-SUPPORTED

BENEFITS OF BUILDING A DIGITAL BUSINESS

Have you ever thought where Facebook, Instagram or WhatsApp profit from?&nbsp;Even though we use their services every day without paying. This is because Facebook and most other social media companies are digital businesses that operate on an ad-based or ad-supported basis.&nbsp;That is, they benefit from every advertisement, promotion or sponsorship that comes into their company.

The development of digital business, which is currently felt to be growing rapidly, is not without reason.&nbsp;Traditional businesses that have transformed into digital businesses have been proven to provide a myriad of benefits for various parties, including employees and consumers who are involved in these business activities.

Global society humans and life transformation

Human, and humane, transformation

It is undeniable that all that is currently happening has a very powerful overflow.towards the.. transformation of global society thanks to social media. There is no such thing as a city or a village in the lifestyle and outlook of life for the people. For whatever reason, the upheaval in terms of. lifestyle, style of thought, or new styles as a frame of life in culture from what might be said to be. traditional or modern is the fruit of the times that existed in its era. And it is impossible for a single human being to deny it. For this reason, various life transformations are carried out, from conservative to modern. Minimalist life, or hedonistic life? All are forms of the new modes that humans must choose today.

For some, the phrase 'human transformation might stir up discomforting Images of unscrupulous companies,weaponizing behavior change techniques at scale for self-interested, nefarious purposes. And they would be right to be concerned. We must acknowledge there are real issues to confront about the extent to which we allow others to track our health. attitudes and activities, as well as the public and private measures we should take to protect data privacy and data rights (that's another article for another day). At the same time, it's prudent to recognize that technology is an ambivalent dimension of society that can cut both ways-like law. education, or money, it is the actors involved in technology, their motives, resources and participation in social debates that determine what it is, and what it will become.

Praise be to Allah SWT, because by His grace, the author was able to write a textbook entitled 'Introduction to business" smoothly. The author realizes that there are still many shortcomings in the writing of this textbook, for that the author expects suggestions and constructive critic for improvement. Hopefully this book can be useful for writers and readers.

CHAPTER	1 BASIC BUSINESS CONCEPT				6

CHAPTER	2 ETHICS AND RESPONSIBILITY			18

CHAPTER	3 BUSINESS MODEL CANVAS				31

CHAPTER	4 DOING BUSINESS WITH 				41 MODEL CANVAS

CHAPTER	5 DESIGHN THINKING					47

Respect for others To foster ethical behavior and environments in the workplace, respecting others is a critical component. Everyone deserves dignity, privacy, equality, opportunity, compassion, and empathy. Honesty Truth in all matters is key to fostering an ethical climate. Partial truths, omissions, and under or overstating don't help a business improve its performance. Bad news should be communicated and received in the same manner as good news so that solutions can be developed. Respect for laws Ethical leadership should include enforcing all local, state, and federal laws. If there is a legal grey area, leaders should err on the side of legality rather than exploiting a gap.

Responsibility Promote ownership within an organization, allow employees to be responsible for their work, and be accountable for yours. Transparency Stakeholders are people with an interest in a business, such as shareholders, employees, the community a firm operates in, and the family members of the employees. Without divulging trade secrets, companies should ensure information about their financials, price changes, hiring and firing practices, wages and salaries, and promotions are available to those interested in the business's success. Compassion Employees, the community surrounding a business, business partners, and customers should all be treated with concern for their well-being.

What Is Promotional Pricing?

PROMOTION AND PRICING OF GOODS AND SERVICES &amp; FINANCIAL REPORTS

Promotional pricing is a sales strategy in which brands temporarily reduce the price of a product or service to attract prospects and customers. By lowering the price for a short time, a brand&nbsp;artificially increases the value of a product or service&nbsp;by creating a sense of scarcity. Promotional pricing can help with customer acquisition by&nbsp;encouraging cost-conscious shoppers to buy. It can increase revenue, build customer loyalty, and improve short-term cash flow. A promotional pricing strategy works best in the short-term. Used excessively, it costs brands money by eroding profit margins. Customers become accustomed to lower pricing—so-called “price orientation”—or they may stock up during the promotional period. It also adds to the noise in an already-crowded marketplace where promotions and discounts are commonly used.

Advantages&nbsp;of Digital Marketing

The large number&nbsp;of digital marketing&nbsp;used by companies, proves that this has many advantages and benefits that can be obtained, what are those? Here are some of the advantages of digital marketing compared to conventional marketing.

2. Ease of Evaluation By using&nbsp;online&nbsp;media , the results of marketing activities can be immediately known. Information such as how long your product has been watched, how many people have viewed your product, what percentage of sales conversions from each ad and so on. After knowing this kind of information, you can then evaluate which ads are good and which are bad.

3. Wider Reach The next advantage is the wide geographical reach of DM.&nbsp;You can spread your&nbsp;brand&nbsp;or product worldwide with just a few easy steps by using the internet.

1. Speed of Deployment Marketing strategies using digital media can be done very quickly, even in seconds. In addition, DM can also be measured in&nbsp;real time&nbsp;and precisely.

After the prototype is completed, conduct a trial run with the end user. Don't forget to always record things so that we get enough data to make a decision. Testing can be done repeatedly (iteration) until the best solution to the problem is found. We can pilot many existing ideas in the third stage to try new solutions or even combine several ideas at once.

Flash Sales.&nbsp;For a very short time—sometimes just hours—brands will slash their prices&nbsp;to unload excess inventory, acquire customers, or lift profits.&nbsp;Travel brand Globus&nbsp;boosted flash sale success by 20% by offering personalized promotions to the military. The company’s personalized promotion strategy reduced coupon abuse by 35% and took 75% less effort and resources to implement.

Coupons.&nbsp;&nbsp;A coupon is a voucher entitling the holder to a discount for a particular product.&nbsp;TackleDirect, a brand that sells fishing gear, offers coupons to people who abandoned a shopping cart. Researchers found that the&nbsp;average cart abandonment rate is nearly 70%.&nbsp;

Understanding Business Ethics:

Business ethics ensure that a certain basic level of trust exists between consumers and various forms of market participants with businesses. For example, a&nbsp;portfolio manager&nbsp;must give the same consideration to the portfolios of family members and small individual investors as they do to wealthier clients. These kinds of practices ensure&nbsp;the public receives fair treatment.

What Is Business Ethics?

Business ethics studies appropriate business policies and practices regarding potentially controversial subjects,&nbsp;including corporate governance, insider trading, bribery, discrimination, corporate social responsibility, fiduciary responsibilities, and much more. The law often guides business ethics, but at other times business ethics provide a basic guideline that businesses can follow to gain public approval.

The concept of business ethics began in the 1960s as corporations became more aware of a rising consumer-based society that showed concerns regarding the environment, social causes, and corporate responsibility. The increased focus on "social issues" was a hallmark of the decade

Since that time, the concept of business ethics has evolved. Business ethics goes beyond just a moral code of right and wrong; it attempts to reconcile what companies must do legally vs. maintaining competitive advantage&nbsp;over other businesses. Firms display business ethics in several ways.

3. Marketing Automation Marketing Automation is a technique of automating repetitive tasks.&nbsp;Tasks such as workflows, content upload sequences and campaign reports.&nbsp;This automation can be done on digital channels such as&nbsp;&nbsp;email&nbsp;and social media. 4. Pay-Per-Click (PPC) PPC is a way to drive&nbsp;traffic&nbsp;to your site for a fee per click.&nbsp;For example Google AdWords, you pay then get the top slot of every search on Google and are charged for each click. Apart from that, there are also Facebook Ads and LinkedIn Sponsored Messaging. 5. Native&nbsp;Advertising Forms of paid content displayed in a form that bears a resemblance to the media content and its placement.&nbsp;Content that looks and functions like part of the associated media.&nbsp;For example&nbsp;Promoted Post&nbsp;on Instagram and Facebook.

6. Affiliate&nbsp;Marketing Affiliate Marketing&nbsp;is when you partner with other people's services or sites to make commissions for referring readers or visitors to your business.&nbsp;For example&nbsp;Hosting video ads with Youtube. 7. Social&nbsp;Media Marketing You promote your&nbsp;brand&nbsp;and content on social media like Facebook, Whatsapp, Twitter, Facebook Messenger.&nbsp;Social media is a means to exaggerate the&nbsp;brand&nbsp;. However, at first just focus on one social media to shorten time, costs, manpower and knowledge.&nbsp;Then determine the personality that you use on social media, such as formal or semi-formal.

WHY IS DIGITAL BUSINESS SO IMPORTANT

Lately, most of us must have felt for ourselves that businesses that have transformed digitally or online can survive in the midst of a pandemic, while large companies that cannot adapt immediately fall, even stopping their operations. Based on the&nbsp;IT Pro&nbsp;page , as many as 8 out of 10 companies around the world are rapidly switching to digital platforms since the beginning of 2020. Plans that initially had to be carried out within the next 2 to 5 years, suddenly had to be carried out as soon as possible in a matter of months if you want continue to exist in the market.

The first type as well as the most widely known by the general public is Digital Business in the form of a Marketplace.&nbsp;We all must have heard of companies such as Tokopedia, Bukalapak, Lazada, Blibli.com, and Shopee which are very well known in various circles of society. Marketplace itself is a digital business where business owners provide a place or media for other people to sell on the platform.&nbsp;This means that products made in this type of business are an online platform so that buyers and sellers can shop safely and comfortably.

Third, build emotionat bonds with customers. You have to keep asking, "What are our plans for using data, content, and digital tools to connect emotionally with customers?" and "What else can we provide, with simplicity and speed, to strengthen our consumer bonds?" Lastly, change your partnership paradigm. Given the opportunities for specialization created by the ecosystem economy, companies need more and more different types of partners. Start asking what kind of partner you need most. The millennial generation The millennial generation is seen as having a significant influence on the economy, especially in rebuilding a digital-based economic ecosystem. 70% of the employment rate in Indonesia comes from millennials. white 30% comes from unproductive ages in the 2020-2030 range. As a result, millennials must think more broadly and become entrepreneurs rather than rely on formal employment.

Fairness Everyone should have the same opportunities and be treated the same. If a practice or behavior would make you feel uncomfortable or place personal or corporate benefit in front of equality, common courtesy, and respect, it is likely not fair Loyalty Leadership should demonstrate confidentially and commitment to their employees and the company. Inspiring loyalty in employees and management ensures that they are committed to best practices. Environmental concern In a world where resources are limited, ecosystems have been damaged by past practices, and the climate is changing, it is of utmost importance to be aware of and concerned about the environmental impacts a business has. All employees should be encouraged to discover and report solutions for practices that can add to damages already done.

Why Is Business Ethics Important?

There are several reasons business ethics are&nbsp;essential&nbsp;for success in modern business. Most importantly, defined ethics programs establish a code of conduct that drives employee behavior—from executives to middle management to the newest and youngest employees. When all employees make ethical decisions, the company establishes a reputation for ethical behavior. Its reputation grows, and it begins to experience the benefits a moral establishment reaps:

- Brand recognition and growth - Increased ability to negotiate - Increased trust in products and services - Customer retention and growth - Attracts talent - Attracts investors

It is because often, the term ‘business’ interchanges with the daily operations and the total formation of the company. We often use this term for indicating transactions concerning an underlying service or product.

Amazon The largest online retailer, Amazon sells a wide variety of products on its ecommerce platform. It began as an online bookseller and captured almost every category of retail. It also offers cloud computing services, movie and show streaming platforms and subscription products.

Examples of Businesses Different businesses in the world offer a variety of services and products. The most successful ones include:

Apple It is a renowned company famous for its innovative electronic products. They sell personal computers, smartphones, earphones, watches, and laptops. Similarly, they also provide various services like music and video streaming and production services.