Encouraging Business Through Ideological Approach: Case Study in Koperasi (Cooperative) Syariah 212 Indonesia
Abid Ar Robbani, Wahyu Rizky
University of Indonesia
Abstract
There is a phenomenon of abnormal behavior of Muslim investors who are investing their money with an ideological foundation instead of profit orientation. In Indonesia, there is an example from Koperasi Syariah 212 that have succeeded to expand its business with tremendous progress just within two years. One of Koperasi Syariah 212 business is as the supplier for “212 Supermarket” retail store. Within two years it already has 212 stores established around Indonesia with more than 200.000 members and still increases every year. Instead of promoting the “Financial Benefit” from its business to gain those members, Koperasi Syariah 212 use ideological approach by claimed its self as an Islamic business entity that will fight for Islamic Economics. In this research we analyze the motives behind this phenomenon, why so many people want to become the member of Koperasi Syariah 212 despite the fact not every retail store generating profit but the number the member and store still increase every year. We use Regression method to calculate the significance factors that affect the member-s decision to invest in Koperasi Syariah 212. The result shows that financial motive is not significantly affect the decision but instead other factor like Achievement Oriented, Non-monetary Focus, Self-Actualization, and Closeness to Social Problems are significantly affect the decision. We proof that this ideological approach that used by the Koperasi Syariah 212 is good strategy to encourage its business.
Keywords: Investment, Islamic Business Strategy, Investor Behavior, Cooperative, Islamic Entrepreneurship
Topic: Islamic Business and Entrepreneurship