This study aims to describe the relationship between financial decisions, innovation, enterprise profitability and the value of the company. Based on the research objectives, this research is a causality research. The data used are secondary data for a 5-years period, obtained through several sources such as Indonesian Capital Market Directory (ICMD) and the websites of 22 companies. The results show that (1) Investment decision affects company profitability positively and significantly, (2) Investment decision affects company value positively and significantly, (3) Capital structure affects company profitability positively and significantly, (4) Capital structure affects company value positively and significantly, (5) Dividend policy affects company profitability positively and significantly, (6) Dividend policy does not affect company value, (7) Innovation affects company profitability positively and significantly, (8) Innovation affects company value positively and significantly, and (9) Profitability affects company value positively and significantly.

Purpose The purpose of this paper is to examine the non-market strategies adopted by government-contracted small and medium enterprises (SMEs) in order to address the challenges they faced in the business of procurement. Although SMEs are important contributors to employment and the national economy, they demonstrated different levels of effectiveness depending on the management strategies they adopted. Design/methodology/approach Using case study methodology, data were gathered by conducting interviews with the owners/managers of Indonesian SMEs. Findings were analysed using the (ia)3 framework developed to assist the understanding of non-market environments. Findings Findings indicated that a key characteristic of the Indonesian non-market environment was the influence of the government and Indonesian society. This led to differing degrees of dissatisfaction among SME owners and managers who reported that they had to work within a number of constraints for business survival, while simultaneously learning how to “play the games” demanded by the business and regulatory environment. Research limitations/implications Limitations relate to the number of empirical cases represented and the geographical area covered. Further research is recommended in order to provide the opportunity for research generalisation. Practical implications These findings illustrate the need for transparency and integrity in the procurement process in relation to Indonesian SMEs. It is proposed that SMEs in similar sectors may benefit from forming strategic alliances/industry clusters to support future knowledge sharing and promote their collective voice. Originality/value To date, studies on non-market strategies have largely focused on developed countries and large firms. Consequently, this paper goes some way towards bridging the gap in the non-market environment in developing countries concerning SMEs and potential strategies for adoption.

Populasi ternak, infrasturktur peternakan dan daya dukung pakan merupakan beberapa kriteria parametric dalam penentuan sentra peternakan sapi potong. Kecamatan Lau merupakan salah satu kecamatan di Kabupaten Maros yang masih didominasi peternakan rakyat dimana jumlah kepemilikan ternak hanya berkisar 2 hingga 5 ekor. Kepemilikan dan peternakan sapi potong masih merupakan usaha sampingan dimana bertani sawah padi merupakan pekerjaan utama masyarakat. Dalam upaya mengoptimalkan peternakan sapi potong perlu diketahui kekurangan dan kelebihan serta peluang dan ancaman yang dihadapi peternak dalam menjalankan usaha peternakan sapi potong. Pemilihan lokasi dilakukan secara sengaja (purposive sampling) yang didasarkan bahwa daerah tersebut merupakan salah satu pengembangan sapi potong.  Penentuan sampel akan dilakukan secara acak (random sampling) terhadap petani dan snowballing sampling terhadap stakeholders yang terkait dengan peternakan sapi potong dalam hal ini pemerintah daerah selaku pengambil kebijakan dan para pelaku usaha. Hasil penelitian ini menunjukkan bahwa skor matriks IFE adalah 1,43 dan EFE adalah 1,66 dimana kedua titik ini berada pada kuadran 1 matriks SWOT. Dalam penentuan strategi terdapat 3 alternatif strategi S-O, 4 alternatif W-O serta strategi S-T dan W-T masing-masing 2. Alternatif strategi yang dihasilkan mendukung pada strategi yang agresif dalam mendorong pengembangan usaha ternak sapi potong di Kecamatan Lau Kabupaten Maros.

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This paper aims to give a unique view of looking at how SMEs in Indonesia applying the concept of smart manufacturing along with the challenges of smart manufacturing adoption in supporting technologies infrastructure in Indonesia and its current implementation. There are several challenges that were identified through the smart manufacturing adoption in Indonesia. The manufacturing industry has a great contribution to developing countries such as Indonesia. It is considered as the engine power for Indonesia’s economic growth. Moreover, by considering the value of SMEs in Indonesia, this research puts more attention on smart manufacturing implementation on SMEs. This study provides two cases from SMEs based on the SMEs scale and measuring their productivity from using the traditional method and after adopting the technology used on their business operations. The two cases indicate that the firms have an awareness of the importance of smart manufacturing implementation and its effect to the performance of the firm. However, direct migration to an advanced cyber-physical manufacturing system is not a practical option for the firms.