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

Triaji Pratomo, Eko Yulianto and Zulkifli Zein
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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

International Journal of Research in Business and Social Science (2147-4478), 2021, vol. 10, issue 3, 456-461

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

Date: 2021
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