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Core values measurement: Case study of state-owned enterprises in Indonesia

Author

Listed:
  • Triaji Pratomo

    (Faculty of Business and Economics, Indonesia Islamic University, Yogyakarta, Indonesia)

  • Eko Yulianto

    (Faculty of Economics, Sarjanawiyata Tamansiswa University, Yogyakarta, Indonesia)

  • Zulkifli Zein

    (Faculty of Business and Economics, Indonesia Islamic University, Yogyakarta, Indonesia)

Abstract

Indonesia's state-owned enterprises are now on the verge of adopting a new management system called values-based management (VBM) or management by values (MBV) initiated by the Ministry of State-Owned Enterprises (SoE) by introducing a set of core values, namely AKHLAK (abbreviation from Bahasa Indonesia's words: Amanah / Trustworthy, Kompeten / Competent, Harmonis / Harmonious, Loyal, Adaptif / Adaptive, and Kolaboratif / Collaborative). This study uses an inductive/qualitative approach to understand how these core values are measured. The implication of this study will help SoEs to decide whether to use indirect or direct measurement methods in their effort to translate core values into values-based management. The initial finding shows the sample SoEs do not have a solid understanding of the differences between direct and indirect values assessments yet utilize the method of choice quite exclusively and extensively. Key Words:Indonesia state-owned enterprise, values-based management, Akhlak, business performance

Suggested Citation

  • Triaji Pratomo & Eko Yulianto & Zulkifli Zein, 2021. "Core values measurement: Case study of state-owned enterprises in Indonesia," International Journal of Research in Business and Social Science (2147-4478), Center for the Strategic Studies in Business and Finance, vol. 10(3), pages 456-461, April.
    • Handle: RePEc:rbs:ijbrss:v:10:y:2021:i:3:p:456-461
    DOI: 10.20525/ijrbs.v10i3.1145
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    References listed on IDEAS

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    1. Chakraborty, S. K., 2001. "Management and Ethics Omnibus: Management by Values, Ethics in Management, Values and Ethics for Organizations," OUP Catalogue, Oxford University Press, number 9780195656237.
    2. Ebrahim, Alnoor, 2003. "Accountability In Practice: Mechanisms for NGOs," World Development, Elsevier, vol. 31(5), pages 813-829, May.
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