Analisis Strategi Turnaround Pada Perusahaan yang Terdaftar di Bursa Efek Jakarta

Syafrizal, Syafrizal (2014) Analisis Strategi Turnaround Pada Perusahaan yang Terdaftar di Bursa Efek Jakarta. Jurnal Bisnis dan Manajemen, 2 (2).

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Abstract

Every times a lot of business is facing difficult condition that makes their performance poorer, and sometimes went to failure and bankrupt. Business failures are not without cost, it entails economic and social cost. Even though organizational decline is an important and unavoidable concern of organizations, it has received little research attention to the study how business can turnaround its operations to be profitable, especially in developing countries. The objectives of this empirical research are to fill the gap of research on turnaround strategy of the Indonesian listed companies. Moreover, this research tries to answer two main questions; (1) what are the main turnaround strategies adopted by Indonesian listed company? (2) Arc there any different on tumaround strategy implemented by the finns at differcnt industries listcd on Jakarta Stock Exchange? Sample of this study is the firms that experiencc turnaround listcd on Jakarta Stock Exchange from the year 1995 to 2001, based on this criterion, ten firms comprise of five in manufacturing sector and five in non manufacturing sector were chosen as the sample. This research found out that most of the firms that successfully turnaround implemented operational turnaround, by cutting the operational cost, conducting debt restructuring and sold unproductive assets. Moreover, the study also revealed that there were not different between turnaround strategy implemented by firms in manufacturing sector and non manufacturing sector. Keyword: Strategic Turnaround, Operational Turnaround, Company Performance

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