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Friday (20/10), the Faculty of Economics and Business, Universitas Gadjah Mada (FEB UGM) held FEB Invinity activity with the theme "Sharing Session: About KIP-College". This activity was attended by FEB UGM students who received the Kartu Indonesia Pintar Kuliah (KIP-K) scholarship. On this occasion, three resource persons were present in the activity, including Desi Yulianti, S.E., M.Acc., Wieda Herdiana, S.S., M.Sc., and Atikah Dian Rahmawati, M.Si., Psychologist.
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Saturday (10/14), the Career and Student Development Unit (CSDU), the Faculty of Economics and Business, Universitas Gadjah Mada (FEB UGM) organized an event titled "Introduction to Founders Mindset and How to Generate Business Ideas." Held in the Audio Visual Room of FEB UGM, Joe William, the Academic Officer of Sevenpreneur, shared his insights on starting a business. Sevenpreneur is a business incubation institution that assists individuals in establishing their ventures.
First Session: Recognizing Internal and External Aspects in Business Preparation
The event commenced with singing the national anthem, "Indonesia Raya," and the university anthem, "Hymne Gadjah Mada." Gumilang Aryo Sahadewo, S.E., M.A., Ph.D., the Vice Dean for Research, Community Engagement, Collaboration, and Alumni, delivered a few words of welcome. The seminar started with an introduction to Sevenpreneur by Joe. The first session focused on self-awareness as the initial step in building a business. To initiate a business, we must recognize two aspects within ourselves: internal foundation and external foundation.
The internal foundation involves understanding our strengths and weaknesses, which can be analyzed through a SWOT analysis (Strengths, Weaknesses, Opportunities, Threats). Afterwards, a personal development plan (PDP) should be formulated to address any weaknesses. Subsequently, short-term and long-term goals can be set. Additionally, analyzing personal pleasures, passions, and purposes is essential. Businesses also need to consider three roles: the designer (product designer), the showman (marketing expert), and the enforcer (operational supervisor). Financial management, time management, risk management, and business acumen are also crucial aspects of business preparation.
The discussion continued with external aspects of business, such as financing and business partners. Financing options include personal finances (bootstrap), loans, and equity ownership. Business partners are vital for the success of ventures. According to the National Bureau of Economic Research, businesses with multiple founders have a 30% higher survival rate than those with a single founder. When choosing a partner, tangible and intangible aspects should be considered. Additionally, a mentor is essential to guide and inspire business progress towards success.
Second Session: Innovating Business Ideas
The session continued with a focus on innovating business ideas. Business ideas often stem from societal problems. For example, Henry Ford's invention of the car solved the inefficiency of horse transportation. Another example is the Ternak Uang platform, which addressed Indonesia's need for financial literacy. In essence, problems give opportunities for business ideas.
To identify problems, three steps can be taken: finding the market, understanding behavior, and listing the issues. For instance, in the health sector, the market could be office and home environments. Behavior could involve the increasing trend of healthy lifestyles and exercise. Problems could include the lack of knowledge about healthy lifestyles in office and home environments. These identified problems can be transformed into business ideas using the low-hanging fruit theory, market gap theory, or a combination of both.
The low-hanging fruit theory involves solving easier problems first before tackling complex ones. Market gap theory entails offering solutions not yet available in the market. For instance, the creation of Gojek by Nadiem Makarim was inspired by Uber in the United States, leading to a pioneering similar concept in Indonesia.
The expected outcomes of a business can be categorized into solution-centric and monetization-centric. Solution-centric businesses focus on their societal impact, while monetization-centric businesses concentrate on financial gains. A successful business balances both benefiting society and generating economic profits.
The fundamental process of creating a business involves three stages: build, measure, and learn. Product development should consider the Minimum Viable Product (MVP) to minimize costs. Product testing can be done through A/B Testing, releasing multiple products to determine which one the market prefers. After obtaining test results, businesses can evaluate using customer metrics, including customer satisfaction levels and Net Promoter Score (NPS), indicating how likely customers are to recommend the product.
The session concluded with participants engaging in hands-on practice. They observed issues in their surroundings, analyzed them, and proposed business ideas. This session marked the end of the event for the day.
Reportase: Rizal Farizi
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Saturday (07/10), the Master of Management Study Program (MBA), Faculty of Economics and Business Universitas Gadjah Mada (FEB UGM), in collaboration with the International Compliance Association (ICA), held a webinar with the theme "Financial Crime Courses Introduction". This activity alligns with Sustainable Development Goals: Quality Education (4) and Partnership for The Goals (17). The resource person in this webinar is Serona Woo, Head of Training Education Development of ICA. In collaboration with UGM, ICA provides various certified courses, including the ICA Certificate in Compliance, ICA Certificate in Anti-Money Laundering, ICA Certificate in KYC and CDD, ICA Certificate in Anti-corruption, ICA Certificate in Managing Sanctions Risks, and ICA Certificate in Financial Crime Prevention. Individuals enrolled in ICA membership can receive various benefits, including a continuous learning hub, insights, webinar series, monthly playlists, compliance, member directory, podcast series, ICA news, events and discounts.
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Friday (6/10), the Department of Economics, Faculty of Economics and Business, Universitas Gadjah Mada (FEB UGM) hosted the Seminar and Public Lecture (SinarKU) in collaboration with the 7th Mubyarto Public Policy Forum (MPPF). Held at the 8th-floor Auditorium of the FEB UGM Learning Center Building and on the Zoom platform (hybrid), this SinarKU session delved into the economic and political aspects of tobacco regulation and policies in Indonesia. The event featured three speakers with relevant expertise: Prof. Hasbullah Thabrany (Chairman of the National Committee for Tobacco Control), Dr. Elisabeth Kramer (Senior Lecturer at the University of New South Wales), and Gumilang Aryo Sahadewo, S.E., M.A., Ph.D. (Vice Dean for Research, Community Engagement, Collaboration, and Alumni Affairs at FEB UGM).
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Friday (29/09), the plenary session of the 8th Gadjah Mada International Conference (GAMAICI) was held at the Auditorium on the 8th floor of the Faculty of Economics and Business, Universitas Gadjah Mada (FEB UGM). GAMAICI is a conference related to topics of Islamic economics and business organized by the Center for Islamic Economics and Business Studies (PKEBS) at FEB UGM. Titled "Sustainable Development through Islamic Finance: Opportunities and Challenges in Accounting, Business, and Economics," this plenary session featured two speakers: Prof. Habib Ahmed (Professor and Sharjah Chair in Islamic Law and Finance at Durham University) and Dr. Imam Teguh Saptono (Vice Chairman I of the Indonesian Waqf Board), moderated by M. Akbar F. A., S.E., M.Sc., a lecturer at the Department of Accounting, FEB UGM.
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Friday (29/09), Master of Science and Doctoral Study Program at the Faculty of Economics and Business, Universitas Gadjah Mada (MD FEB UGM), held the 43rd Anniversary Celebration and the 8th Book Launch. Fu'ad Rahman, M.Sc., Ph.D., representative of the MD program manager, gave a speech and read a report. Currently, the number of active students in the MD program is recorded at 361, with details of 223 students in the Master of Science program and 138 students in the Doctoral program. To date, MD FEB UGM has published eight books. Over the past year, MD has implemented various programs, including the REACH program, seminars/webinars, public lectures, workshops, thesis teaching, and publication coaching clinics. He also told the long history of MD FEB UGM since it was first established on January 17 1976. Bayu Sutikno, S.E., M.S.M., Ph.D., Vice Dean for Academic and Student Affairs FEB UGM, gave a speech on the next occasion.
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