Judul: Implementation of ESG as a Strategy to Create Blue Ocean Market (Case Study: PT Wijaya Karya (Persero) Tbk.)
Abstrak: Kegiatan capstone project di PT Wijaya Karya (WIKA) mengidentifikasi masalah perusahaan yang perlu diversifikasi produk dan layanan untuk menghadapi penurunan market size dan menjaga stabilitas pendapatan di segmen dengan potensi keuntungan tinggi. WIKA memiliki peluang dalam mengimplementasikan prinsip Environmental, Social, and Governance (ESG) karena telah menerapkan keberlanjutan meskipun secara tidak sadar atau sporadis. Penelitian ini bertujuan merekomendasikan strategi implementasi ESG untuk menciptakan blue ocean market menuju keberlanjutan. Metode yang digunakan adalah deskriptif kualitatif. Data primer dan sekunder diolah dan dianalisis secara deskriptif, dengan formulasi strategi menggunakan pendekatan blue ocean strategy melalui alat analisis strategy canvas dan four action framework. Hasil penelitian menunjukkan strategy canvas mengidentifikasi 10 inisiatif utama ESG dengan kinerja bervariasi, membantu WIKA memetakan kekuatan dan area yang perlu dioptimalkan. 10 inisitif tersebut adalah Produk Berkelanjutan, Efisiensi Energi, Pengolahan Limbah B3, Pengurangan Emisi Gas Rumah Kaca, Konservasi Lingkungan, Tanggung Jawab Sosial dan Lingkungan, Kesehatan dan Keselamatan Kerja, Respectful Workplace, Penerapan Sistem Manajemen Anti Penyuapan (SMAP), dan Tata Kelola Risiko. Rekomendasi strategi mencakup tiga bagian utama: Optimalisasi Sumber Daya guna meningkatkan alokasi sumber daya yang lebih efisien serta dapat meningkatkan produktivitas yang lebih optimal, Peningkatan Kompetensi dan Kesadaran untuk memastikan karyawan memiliki keterampilan yang diperlukan dan memahami manfaat ESG, serta Penguatan Pasar dan Transparansi guna meningkatkan kesadaran dan permintaan pasar, serta transparansi dan akuntabilitas. Dengan implementasi strategi-strategi tersebut, WIKA diharapkan dapat menciptakan nilai berkelanjutan yang kuat dan memperkuat ESG sebagai bagian integral dari strategi perusahaan, menuju pasar yang lebih stabil dan menguntungkan di masa depan., The capstone project at PT Wijaya Karya (WIKA) identified the company's problem of needing to diversify products and services to deal with declining market size and maintain revenue stability in segments with high profit potential. WIKA has an opportunity to implement Environmental, Social, and Governance (ESG) principles because it has implemented sustainability although unconsciously or sporadically. This research aims to recommend ESG implementation strategies to create a blue ocean market towards sustainability. The method used is descriptive qualitative. Primary and secondary data were processed and analysed descriptively, with strategy formulation using the blue ocean strategy approach through the strategy canvas and four action framework analysis tools. The results show that the strategy canvas identifies 10 key ESG initiatives with varying performance, helping WIKA map strengths and areas that need to be optimised. The 10 initiatives are Products Sustainability, Energy Efficiency, Hazardous Waste Management, Greenhouse Gas Emission Reduction, Environmental Conservation, Social and Environmental Responsibility, Occupational Health and Safety, Respectful Workplace, The Implementation of SMAP, and Risk Governance. The strategy recommendations include three main sections: Resource Optimisation to improve more efficient resource allocation and optimise productivity, Competency and Awareness Enhancement to ensure employees have the necessary skills and understand the benefits of ESG, and Market Strengthening and Transparency to increase market awareness and demand, as well as transparency and accountability. With the implementation of these strategies, WIKA is expected to create strong sustainable value and strengthen ESG as an integral part of the company's strategy, towards a more stable and profitable market in the future.
Keyword: blue ocean strategy, ESG, keberlanjutan, konstruksi, sustainability, construction

Judul: The Impact of ESG on Corporate
Performance: A Systematic Literature Review
Abstrak: Penelitian ini mengevaluasi pengaruh Environmental, Social, and Governance (ESG) terhadap kinerja perusahaan. Penelitian ini dilatarbelakangi oleh meningkatnya urgensi untuk mengimplementasikan ESG yang tidak diikuti dengan informasi dan data yang memadai. Tujuan penelitian ini adalah menganalisis perkembangan praktik ESG, dampaknya terhadap kinerja perusahaan, serta pelajaran yang dapat diambil untuk perkembangan ESG di Indonesia. Metode penelitian yang digunakan adalah systematic literature review. Hasil penelitian menunjukkan perkembangan praktik ESG dikategorikan ke dalam tahap eksplorasi awal, menengah, dan lanjutan. Implementasi ESG berdampak terhadap kinerja keuangan, mencakup peningkatan kinerja dan pengurangan risiko keuangan, serta investasi dan obligasi. ESG juga berpengaruh pada aspek non-finansial, meliputi reputasi, manajemen dan tata kelola, dan keberlanjutan perusahaan. Pelajaran yang dapat diadopsi di Indonesia adalah pembuatan regulasi, peningkatan literasi ESG, perluasan akses investasi, dan integrasi tujuan finansial dengan ESG., This study evaluates the impact of Environmental, Social, and Governance (ESG) on corporate performance. The research is motivated by the increasing urgency of ESG implementation that has not been supported by adequate information and data. The study aims to analyze the development of ESG practices, their impact on corporate performance, and lessons for the development of ESG in Indonesia. The research method used is a systematic literature review. The results indicate that the development of ESG practices can be categorized into initial exploration, intermediate, and advanced stages. ESG implementation affects financial performance by improving performance and reducing financial risk, as well as influencing investments and bonds. ESG also impacts non-financial aspects, including corporate reputation, management and governance, and sustainability. Lessons that can be adopted in Indonesia include the creation of supportive regulations, increased ESG literacy, expanded investment access, and the integration of financial goals with ESG.
Keyword: sustainability, corporate performance, ESG, ESG implementation, literature review, social responsibility

Judul: Approximation of the Median of Poisson Distribution Using the Relation of Poisson-Gamma Distribution
Abstrak: A major drawback of median is that median cannot usually be defined in closed form, even in the cases where their distribution functions are known. This study gives an approximation of the closed form for the median of the Poisson distribution by using the relation of Poisson-Gamma distribution. The approximation uses elementary techniques based on the monotonicity of certain sequences involving tail probabilities of the Poisson distribution and the Central Limit Theorem. Furthermore, a closed form expression for the mean absolute deviation 􀜧|􀜰􀰒 􀵆 􀜯􀝁􀝀􁈺􀜰􀰒􁈻| is also studied. The median is relevant because of the fact that it minimizes the mean absolute deviation of a Poisson random variable (􀜰􀰒􁈻 by considering median as central tendency.
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