ANALYSIS OF BUS TRANSPORTATION ASSET INVESTMENT PROJECTION AS PART OF THE DEVELOPMENT STRATEGY OF TOURISM AND NON - TOURISM TRANSPORTATION SERVICE BUSINESS UNITS AT THE BMJ COOPERATIVE FINAL PROJECT In partial fulfilment of the requirements For the master’s degree From Institut Teknologi Bandung By SAID MUCHSIN Student ID: 29120374 Master of Business Administration Program School of Business and Management INSTITUT TEKNOLOGI BANDUNG 2024 i ABSTRACT ANALYSIS OF BUS TRANSPORTATION ASSET INVESTMENT PROJECTION AS PART OF THE DEVELOPMENT STRATEGY OF TOURISM AND NON - TOURISM TRANSPORTATION SERVICE BUSINESS UNITS AT THE BMJ COOPERATIVE By Said Muchsin Student ID: 29120374 (Master of Business Administration Program) Berau Marine Jaya (BMJ) Cooperative is a type of service cooperative and has had several business fields that have been run. One of the business fields that has become a business field plan in 2020, namely tourist and non-tourist bus transportation service providers. 2020-2021 is a tough challenge for BMJ, because it purchased 1 (one) tourist bus unit, but was hampered by the COVID-19 pandemic, causing assets that have been spent on transportation business units, unable to make a positive contribution to cooperative members. The business potential of tourist transportation services in Berau Regency is still very attractive, according to data on tourist visits in Berau Regency, which has continued to increase over the past 3 (three) years, but to be able to continue the business field so that it can operate normally, in accordance with the fulfillment of the requirements of the legal aspects of government, is not very easy. Therefore, it is necessary to reassess the feasibility study of the bus transportation service business in decision making and accommodate the current business conditions and while the business operation. This final project focuses on the scope of bus transportation asset investment projections as part of a comprehensive tourism and non-tourism transportation service development strategy in all aspects of the business, by conducting a descriptive assessment using PESTEL analysis, SWOT analysis, and financial projection feasibility analysis, namely financial indicators such as Internal Rate of Return (IRR), Net Present Value (NPV), Payback Period, and Profitability Index. The results of the calculation of financial indicators are IRR of 17.3%, NPV of Rp 833,807,163, Payback Period for 5 years, and Profitability Index of 1. The results of this financial projection analysis show a positive value to be able to generate profits. BMJ Cooperative Management, must take quick steps to be able to decide on the implementation plan of the bus transportation service business in meeting the requirements of legal and funding aspects. Keywords: Cooperative, Bus unit investments, Internal Rate of Return (IRR), Net Present Value (NPV), Payback Period (PP), Profitability Index (PI), Implementation ii ABSTRAK ANALISIS PROYEKSI INVESTASI ASET TRANSPORTASI BUS SEBAGAI BAGIAN DARI STRATEGI PENGEMBANGAN UNIT USAHA JASA TRANSPORTASI WISATA DAN NON-WISATA PADA KOPERASI BMJ Oleh Said Muchsin Student ID: 29120374 (Program Studi Magister Administrasi Bisnis) Koperasi Berau Marine Jaya (BMJ) merupakan jenis Koperasi Jasa dan telah memiliki beberapa bidang usaha yang pernah dijalankan. Salah satu bidang usaha yang sudah menjadi rencana bidang usaha tahun 2020, yaitu penyedia jasa transportasi bis wisata dan non-wisata. Tahun 2020-2021 menjadi tantangan berat bagi BMJ, dikarenakan melakukan pembelian 1 (satu) unit bis wisata, namun terhambat dengan pandemic COVID-19, menyebabkan asset yang telah dibelanjakan untuk unit usaha transportasi, tidak dapat memberikan kontribusi positif kepada anggota koperasi khususnya. Potensi bisnis jasa transportasi wisata di Kabupaten Berau, masih sangat menarik, sesuai dengan data kunjungan wisatawann di Kabupaten Berau, terus meningkat selamat 3 (tiga) tahun terakhir, namun untuk dapat menlanjutkan bidang usaha agar dapat beroperasi secara normal, sesuai dengan pemenuhan persyaratan aspek legal pemerintahan, sangatlah tidak mudah. Oleh sebab itu, diperlukan penilaian kembali studi kelayakan bisnis jasa transportasi bis dalam pengambilan keputusan serta mengakomodasi kondisi bisnis saat ini dan selama perjalanan bisnis tersebut beroperasi. Tugas akhir ini berfokus pada lingkup proyeksi investasi aset transportasi bus sebagai bagian dari strategi pengembangan layanan transportasi pariwisata dan non-pariwisata yang komprehensif dalam segala aspek bisnis, dengan melakukan penilaian deskriptif dengan menggunakan PESTEL analysis, analisa SWOT, dan analisa kelayakan proyeksi keuangan, yaitu indikator keuangan seperti Internal Rate of Return (IRR), Net Present Value (NPV), Payback Period, dan Profitability Index. Adapun hasil dari perhitungan indicator keuangan nya yaitu IRR sebesar 17.3%, NPV sebesar Rp 833,807,163, Payback Period selama 5 tahun, dan Profitability Index sebesar 1. Hasil analisa proyeksi keuangan ini menunjukkan nilai positif untuk dapat menghasilkan keuntungan. Manajemen Koperasi BMJ, harus mengambil langkah cepat untuk dapat memutuskan rencana implementasi bisnis jasa transportasi bis dalam pemenuhan persyaratan aspek legal dan pendanaan. Kata kunci: Koperasi, Investasi unit bis, Internal Rate of Return (IRR), Net Present Value (NPV), Payback Period (PP), Profitability Index (PI), Implementasi iii VALIDATION PAGE ANALYSIS OF BUS TRANSPORTATION ASSET INVESTMENT PROJECTION AS PART OF THE DEVELOPMENT STRATEGY OF TOURISM AND NON - TOURISM TRANSPORTATION SERVICE BUSINESS UNITS AT THE BMJ COOPERATIVE HALAMAN PENGESAHAN By Said Muchsin Student ID: 29120374 Master of Business Administration Program School of Business and Management Institut Teknologi Bandung Approved Date ………………………. Supervisor ______________________ (Dr. Sylviana Maya Damayanti ST., MBA., CFP., CWM., CRGP) iv DECLARATION OF NON -PLAGIARISM ACKNOWLEDGEMENTS Praise to Allah The Most Glorified The Most High, the source of all blessing, guidance, knowledge and wisdom, for bestowing upen me the health, strength, perseverance, and intellect to undertake and complete this final research as a prerequisite to finishing the Master of Bussiness Administration (MBA) Program at Institut Teknologi Bandung (ITB). As the Author, I would like to express my sincerest gratitude through countless support from, 1. The Author’s beloved wife, Delisa, kids Raihanah and Maliki, and parents Ibu Maimunah for their unwavering pray, love and support of my academic pursuits. Their constant encouragement and belief in my self have propelled me to keep forward, even during the most challenging time. 2. Dr. Sylviana Maya Damayanti ST., MBA., CFP., CWM., CRGP was the final project advisor, her invaluable guidance, support, patience throughout this reseach, and advising in construction for the completion of this final project. 3. All lectures and staff for educating and sharing knowledge. 4. The Authors’s bestfriends, Kristiyan Agung, for invaluable assistance and willingness to help, even at the eleventh hour, has been instrumental in the completion of this research. 5. The Executive MBA classmate, for all the support, discussion, sharing knowledge and moments during the learning process Apart of all, while I have strived to conduct this research with the utmost care and diligence, I acknowledge that it may contain certain limitation and imperfection. Despite my best efforts there may be areas where further exploration and refinement area necessary. I humbly invite constructive critism and suggestion to further enhance the quality of this work. v TABLE OF CONTENTS ANALYSIS OF BUS TRANSPORTATION ASSET INVESTMENT PROJECTION AS PART OF THE DEVELOPMENT STRATEGY OF TOURISM AND NON -TOURISM TRANSPORTATION SERVICE BUSINESS UNITS AT THE BMJ COOPERATIVE ABSTRACT ............................................................................................................ i ABSTRAK ………………………………………………………………….. ii VALIDATION PAGE .......................................................................................... iii DECLARATION OF NON -PLAGIARISM ...................................................... iv ACKNOWLEDGEMENTS ................................................................................. iv TABLE OF CONTENTS ...................................................................................... v LIST OF APENDIXES ....................................................................................... vii LIST OF FIGURES ............................................................................................ viii LIST OF TABLES ................................................................................................ ix Chapter I Introduction ......................................................................................... 1 I.1 Background .................................................................................................... 1 I.2 Company Profile ............................................................................................. 3 I.3 Business Issue ................................................................................................. 5 I.4 Research Questions ........................................................................................ 6 I.5 Research Objectives .......................................................................................