Three students from the Department of Industrial Engineering, Faculty of Engineering, Universitas Indonesia (FTUI) class of 2020 won third place in the National Business Competition (NBU) TSM Economic Days 2022. Ruth Vanesa Hutagalung, Fatimah Az-Zahra Qorib, and Alexander Farrel who are members of the FTUI Agatha team present the Blu application development strategy from BCA Digital in this business competition.
The National Business Competition (NBC) is one of the prestigious business competitions in Indonesia on a national scale and is part of the 2022 TSM Economic Days event organized by the Trisakti School of Management Student Senate. In this competition, the participants were assessed based on three assessment points, the best strategy, teamwork, and team knowledge in economics, both theory and communication skills.
This year at the NBC competition, the participants were presented with a case study of the Blu application from BCA Digital. Each team of participants was asked to provide solutions to two main questions, how Blu can do it to become the main digital bank of choice for students throughout Indonesia, and the short, medium, and long-term plans that Blu must carry out as a digital bank business actor, including business strategy, product marketing, a feature that should be added to the Blu application to adapt it to the needs of students.
“Based on the questions given by the committee, we from the Agatha team offer four solutions: integrating the implementation of Corporate Social Responsibility (CSR) in Marketing Strategy, increasing collaboration with students and relevant stakeholders, increasing digital marketing through social media, and carrying out product development on the Blu by application. BCA Digital. Of course, these solutions must be calculated together with risks and a realistic schedule,” said Ruth, Agatha’s team leader.
The Agatha team revealed that the problems faced by Blu from BCA Digital were problems in increasing Blu’s presence among students and plans in developing Blu’s business strategy as a digital entrepreneur. In addition to the four previous strategies, Agatha’s team also suggested that Blu carry out a marketing strategy involving other parties, such as influencers and other external parties to expand market share.
“We also conducted a risk analysis of the strategy we proposed. From the results of the analysis, we found two risks that might occur, namely the risk that the target audience of influencers and content creators does not match Blu’s target market and results in sales that do not increase. Solutions for mitigating these risks sequentially, namely conducting research on content creators and influencers who wish to collaborate and conducting more in-depth research before innovating new products for the target market,” continued Alex.
Dean of FTUI, Prof. Dr. Heri Hermansyah, ST., M.Eng, IPU said, “Hopefully the strategies and ideas compiled by our students can help the development of Blu’s business from BCA Digital and can be used and further developed in the preparation of future banking solutions. With this competition, I also hope that participating students can hone and develop their mindset and ability to face the challenges of the digital world in various sectors in the future.”
The competition which was held from 16 April 2022 – 8 July 2022 aims to assist, facilitate, and provide space for students to develop their mindset and abilities related to elements of economics, namely accounting, and management which are then packaged into a competition.
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Bureau of Public Communications
Faculty of Engineering, Universitas Indonesia