Commercialization and Business Feasibility of Campus Assets: Transforming Dormitories to Improve Financial Performance
DOI:
https://doi.org/10.21512/bbr.v16i1.12087Keywords:
commercialization, business feasibility, campus assets, dormitories, financial performanceAbstract
The current era of globalization requires universities to formulate strategies to optimize campus assets to make them more productive and contribute to the institution. The research focused on one of the real assets at University of Jambi University, namely student dormitories. The research analyzed how to optimize dormitories to benefit students and the university. Problems faced by flat assets included limited land for maintenance, inadequate infrastructure, and high maintenance costs. Another challenge was the lack of supporting facilities, such as adequate reading rooms, laboratories, and sports venues. The research applied a mixed method (qualitative and quantitative approach). Qualitative analysis was carried out to evaluate business potential and identify opportunities for commercialization of dormitories through a survey of students living around campus. The data obtained was then analyzed using the Strengths, Weaknesses, Opportunities, Threats (SWOT) method to determine the strategic position of the dormitories. Meanwhile, quantitative data was obtained through observation and interviews, which were then analyzed using the investment criteria of Net Present Value (NPV) and Internal Rate of Return (IRR). The findings in SWOT show several suggestions for dormitory management at University of Jambi. Moreover, the results show that the NPV value of this 5-year flat project is estimated at IDR 571,256,867 with an IRR of 38.08%. It indicates that this project is feasible to implement. With the right strategy, the dormitories will not only be a place to live but also a place that supports students' academic and social growth.
Plum Analytics
References
Aditama, R. A., & Rofiudin, M. (2020). Pengantar bisnis: Dilengkapi dengan studi kelayakan bisnis. AE Publishing.
Agbloyor, E. K., Ametefe, F. K., Sarpong-Kumankoma, E., & Fiador, V. (2021). Investment appraisal: Akwaaba university hostel project. Emerald Emerging Markets Case Studies, 11(2). https://doi.org/10.1108/eemcs-01-2020-0025
Åkerblad, L., Seppänen-Järvelä, R., & Haapakoski, K. (2021). Integrative strategies in mixed methods research. Journal of Mixed Methods Research, 15(2), 152−170. https://doi.org/10.1177/1558689820957125
Attlee, A., Saravanan, C., Shivappa, N., Wirth, M. D., Aljaberi, M., Alkaabi, R., ... & Hebert, J. R. (2022). Higher dietary inflammatory index scores are associated with stress and anxiety in dormitory-residing female university students in the United Arab Emirates. Frontiers in Nutrition, 9, 1−11. https://doi.org/10.3389/fnut.2022.814409
Au-Yong, C. P., Ali, A. S., & Pavaraj, A. (2023). Prioritising the maintenance of university hostels to improve students’ satisfaction. Journal of Construction in Developing Countries, 28(1), 151−169. https://doi.org/10.21315/jcdc-10-21-0160
Cho, I., Kwak, Y. H., & Jun, J. (2019). Sustainable idea development mechanism in University Technology Commercialization (UTC): Perspectives from dynamic capabilities framework. Sustainability, 11(21), 1−16. https://doi.org/10.3390/su11216156
Daliri Dizaj, M., & Hatami Khanghahi, T. (2022). Students’ residential preferences: A case study is dormitories of University of Mohaghegh Ardabili. Journal of Asian Architecture and Building Engineering, 21(4), 1348−1363. https://doi.org/10.1080/13467581.2021.1941987
Dodescu, A. O., Botezat, E. A., Constăngioară, A., & Pop-Cohuţ, I. C. (2021). A partial least-square mediation analysis of the contribution of cross-campus entrepreneurship education to students’ entrepreneurial intentions. Sustainability, 13(16), 1−26. https://doi.org/10.3390/su13168697
Gu, J. (2023). Commercialization of academic patents in Chinese universities: Antecedents and spatial spillovers. Heliyon, 9(3), 1−14 . https://doi.org/10.1016/j.heliyon.2023.e14601
Hakim, M. Z., Abbas, D. S., & Nasution, A. W. (2020). Pengaruh profitabiltas, likuiditas, leverage, kepemilikan manajerial, dan kepemilikan institusional terhadap financial distress (Studi empiris pada perusahaan sektor property & real estate yang terdaftar di BEI periode 2016-2018). Competitive Jurnal Akuntansi dan Keuangan, 4(1), 94−105. https://doi.org/10.31000/c.v4i1.2383
Huang, J. (2023). Comparison between NPV and IRR: Evaluation of investment. BCP Business & Management, 40, 149−154. https://doi.org/10.54691/bcpbm.v40i.4373
Jameel, F., & Agiel, A. (2023). Exploring students’ emotional well-being in the ideal university hostel using the qualitative repertory grid technique. International Journal of Environmental Research and Public Health, 20(18), 1−18. https://doi.org/10.3390/ijerph20186724
Khan, Z., Salah-Ud-Din, B., Mustafa, J., & Ud Din, M. (2024). Development of social groups among university hostel students. Academy of Education & Social Sciences Review, 4(1), 44−51. https://doi.org/10.48112/aessr.v4i1.674
Kotler, P., & Keller, K. L. (2021). Marketing management. Pearson Publishing.
Moleong, J. L. (2021). Metodologi penelitian kualitatif. Rosda.
Mubarak, Z., Faridah, R., Yuliani, R., Sukarni, & Fong, M. (2023). Does sharia dormitory business unit support Islamic university sustainability? Market, financial, and maqashid sharia analysis. IKONOMIKA: Jurnal Ekonomi dan Bisnis Islam, 8(1), 37−52. https://dx.doi.org/10.24042/febi.v8i1.15990
Naibaho, I. B. R. (2019). Pengaruh manajemen aset terhadap optimalisasi pemanfaatan aset tetap PTN BH (Studi kasus di Universitas Sumatera Utara) [Doctoral dissertation, Universitas Sumatera Utara]. Repositori Institusi Universitas Sumatera Utara (RI-USU). https://repositori.usu.ac.id/handle/123456789/23627
Puyt, R. W., Lie, F. B., & Wilderom, C. P. M. (2023). The origins of SWOT analysis. Long Range Planning, 56(3),1−24. https://doi.org/10.1016/j.lrp.2023.102304
Subramanian, M., & Taghizadeh-Hesary, F. (2021). Techno-economic feasibility study methods in startup financing. In Investment in startups and small business financing (pp. 107−136). World Scientific Publishing. https://doi.org/10.1142/9789811235825_0004
Sun, H., Wang, L., Wu, Z., Fan, L., & Liu, F. (2023). Dust-phase phthalates in university dormitories and their associations with dormitory characteristics, occupancy activities and habits, as well as environmental factors. Energy and Buildings, 297. https://doi.org/10.1016/j.enbuild.2023.113466
Susilowati, E., Sugiharto, Leonnard, & Srihartati, B. (2018). A student dormitory as an educational supporting facility: An enterprise budget analysis. Studies and Scientific Researches. Economics Edition, 27, 125−135. https://doi.org/10.29358/sceco.v0i27.411
Tweheyo, G., Abaho, E., & Verma, A. M. (2022). The commercialisation of university research outputs: A review of literature. Texila International Journal of Management, 8(2), 1−19. https://doi.org/10.21522/tijmg.2015.08.02.art012
Utama, A. N. B. (2023). Analysis of the development of financial management theory to support financial research. International Journal of Current Science Research and Review, 6(4), 2536−2542. https://doi.org/10.47191/ijcsrr/v6-i4-36
Utama, A. N. B., & Syarif, A. (2023). Student perspectives on financial literacy to support entrepreneurial character. Journal of Business Studies and Mangement Review, 6(2), 231−236. https://doi.org/10.22437/jbsmr.v6i2.26186
WallStreetMojo Team. (2015, September 15). NPV vs IRR. https://www.wallstreetmojo.com/npv-vs-irr/
Wang, F., & Dong, Y. (2019). A power-balanced Pareto-equilibrium profit allocation in supply chain. IEEE Access, 7, 24889−24897. https://doi.org/10.1109/access.2019.2899952
Wong, C. S., & Jie, A. C. W. (2022). University students’ preference for on-campus hostel attributes. International Journal of Social Science and Human Research, 05(12), 6055−6065. https://doi.org/10.47191/ijsshr/v5-i12-94
Wu, Z., Lyu, H., Liang, W., Jing, X., Wang, Y., & Ma, X. (2021). Microbial community in indoor dusts from university dormitories: Characteristics, potential pathogens and influence factors. Atmospheric Pollution Research, 12(3), 321−333. https://doi.org/10.1016/j.apr.2020.12.018
Xiao, J. J., & Tao, C. (2021). Consumer finance/household finance: The definition and scope. China Finance Review International, 11(1), 1−25. https://doi.org/10.1108/cfri-04-2020-0032
Zhao, X., & Cui, H. (2022). Impact of university-industry collaborative research with different dimensions on university patent commercialisation. Technology Analysis & Strategic Management, 34(11), 1235−1248. https://doi.org/10.1080/09537325.2021.1950677
Downloads
Published
How to Cite
Issue
Section
License
Copyright (c) 2025 Ahmad Nur Budi Utama, Agus Syarif, Bunga Ayu Wulandari
This work is licensed under a Creative Commons Attribution-ShareAlike 4.0 International License.
Authors who publish with this journal agree to the following terms:
a. Authors retain copyright and grant the journal right of first publication with the work simultaneously licensed under a Creative Commons Attribution License - Share Alike that allows others to share the work with an acknowledgment of the work's authorship and initial publication in this journal.
b. Authors are able to enter into separate, additional contractual arrangements for the non-exclusive distribution of the journal's published version of the work (e.g., post it to an institutional repository or publish it in a book), with an acknowledgment of its initial publication in this journal.
c. Authors are permitted and encouraged to post their work online (e.g., in institutional repositories or on their website) prior to and during the submission process, as it can lead to productive exchanges, as well as earlier and greater citation of published work.
USER RIGHTS
All articles published Open Access will be immediately and permanently free for everyone to read and download. We are continuously working with our author communities to select the best choice of license options, currently being defined for this journal as follows: Creative Commons Attribution-Share Alike (CC BY-SA)
