SWOT Analysis on Interest Development of Cash Waqf of Moslem
Productive Age Entrepreneurs in Surabaya
Fitryani and Atina Shofawati
Postgraduate School, University of Airlangga, Surabaya, Indonesia
Keywords: Cash Waqf, SWOT, Moslem Entrepreneur, Age Productive
Abstract: The potential of cash waqf in Surabaya is very large due to the majority of Surabaya population who are
Moslem and in productive age. The problem of interest in cash waqf becomes a phenomenon that is quite
interesting to be studied. Cash waqf is one of the forms of waqf which in practice makes it easier for
entrepreneurs of productive age and the potential to empower the waqf. SWOT analysis is the systematic
identification of various factors to formulate the company's strategy. This analysis is based on the logic that
can maximize strength (S) and opportunities (O), but simultaneously can minimize weakness (W) and threat
(T). Waqf is either source of potential social funds that are closely related to the prosperity of the people in
addition to zakat, infaq and alms. As a matter of fact, learning religion becomes the main motivation of
society to waqf. This research is descriptive analytic research. The population in this research is Moslem
productive age entrepreneurs in Surabaya. The sampling technique used in this research is purposive
sampling, the technique of determining the sample with certain considerations, while as sample is taken 99
respondents. The focus of this research is the development of cash waqf on Moslem productive age of
entrepreneurs in Surabaya. The results of the research show that variable opportunities or chance have the
most dominant influence on the development of interest in cash waqf in Surabaya, so that with this great
opportunity to be an alternative for productive age entrepreneur to do cash waqf.
1 INTRODUCTION
Surabaya is the second largest city in Indonesia that
has a heavy activity in daily life. This is provided by
the population of the city of Surabaya according to
Central Bureau of Statistics (Badan Pusat
Statistik/BPS) for 2,853,661 people with a
comparison between men and women are 1,430,985
people for men and 1,422,676 people for women
with significant population growth rate due to many
immigrants or inhabitants reside in Surabaya. This
growth has both positive and negative impacts.
From the positive side, one of them is the
population growth in Surabaya increased so that the
economic growing development is also increasing.
However, the growth of the population also has a
fairly serious negative side of the unemployed
productive age. Unemployed productive age has a
tendency to not have a settled job, so Surabaya as
the city of choice to earn a living or living, has a big
enough living needs compared to other cities.
If the productive age is unemployed, it has the
opportunity to entrepreneurship independently, thus
creating wider employment opportunities for the
other job seekers. Aside from the cost of living is not
small, entrepreneurs have other encouragement. For
example, trade is the advice from the Prophet
Muhammad in search of fortune.
Trading is 9 of the ten doors of fortune which has
been narrated by the Prophet in searching for the
blessings of fortune during life. The results of
trading can be utilized for survival and do not rule
out the provisions as Muslims are set aside for zakat,
infaq and alms. During this time, in Indonesia has a
little understanding related to zakat, infaq, and alms.
According to Indonesian Waqf Board (Badan
Wakaf Indonesia, 2011), waqf is one source of
potential social funds that are closely related to the
welfare of the people in addition to zakat, infaq and
alms. It is understood since religious teachings are
the main motivation for the community to represent.
As one of the religious institutions closely related to
socio-economic, waqf has greatly assisted the overall
development in Indonesia, both in human resource
development and in the social resources
development. Waqf has various kinds, one of them
210
Fitryani, . and Shofawati, A.
SWOT Analysis on Interest Development of Cash Waqf of Moslem Productive Age Entrepreneurs in Surabaya.
DOI: 10.5220/0007540202100213
In Proceedings of the 2nd International Conference Postgraduate School (ICPS 2018), pages 210-213
ISBN: 978-989-758-348-3
Copyright
c
2018 by SCITEPRESS Science and Technology Publications, Lda. All rights reserved
cash waqf. Cash waqf is a gift in the form of money.
When connected in this era of globalization, cash
waqf includes stocks, checks and other securities.
2 LITERATURE REVIEW
2.1 Cash Waqf
Cash waqf for Muslims is new. This can be observed
with the birth of the Indonesian Ulama Council's
fatwa on the money waqf set on May 11, 2002. The
Law on waqf itself was also recently approved by
the President on 27 October 2004. This law
represents a new milestone for the management of
waqf which previously organized in Government
Regulation number 28 year 1977 and Compilation of
Islamic Law book III (Ali, 2006: 98-101).
Cash waqf in Religious Department definition
(Djunaidi, 2007: 3) is waqf by a person, group of
people, and institution or legal entity in the form of
money. Waqf cash is one of the forms of waqf
submitted by a wakif to nadzir in the form of cash,
while the definition of waqf issued by the Fatwa
Commission of Indonesian Council of Ulama (2003:
85) dated May 11, 2002, when releasing a fatwa on
money waqf namely:
"Keeping assets that can be exploited without the
disappearance of the object or principal, by taking
legal action against the object (selling, giving, or
inheriting it), to be distributed (the result) on
something mubah (not haram) that exist.”
2.2 Productive Age Entrepreneur
According to Hisrich et al., In Wijanto (2009: 3)
entrepreneurship is a process of creating something
new and valuable, utilizing the effort and time
required, taking into account social, physical and
financial risks, and receiving rewards in the form of
money and satisfaction personal and independence.
According to Coulter (Suryana and Kartib, 2011:
25), entrepreneurship is often associated with the
process, the establishment or growth of a new
business oriented to the acquisition of profits, value
creation, and the creation of new and innovative new
products or services.
Zimmerer (Kasmir, 2011: 20) states that
entrepreneurship is a process of applying creativity
and innovation in solving problems and finding
opportunities to improve the life (effort). Therefore,
it is born entrepreneurs or entrepreneurs who can
create something new, valuable, and business
oriented so as to generate profits that are generally
done by the productive age between 15 to 64 years.
Therefore, the results of entrepreneurship are
expected to productive age entrepreneurs can do
waqf in cash.
According to Freddy Rangkuti (2009: 18) SWOT
analysis is the identification of various factors
systematically to formulate corporate strategy. This
analysis is based on the logic that can maximize
strength (S) and opportunities (O), but can
simultaneously minimize weakness (W) and threats
(T). According to Kotler (2009: 51), SWOT
Analysis (Strength, Weakness, Opportunity, Threat)
is a way to observe the external and internal
marketing environment.
According to Gitosudarmo (2001: 115) the word
SWOT is an approach which can be translated into
strengths, weaknesses, opportunities and threats. The
translation is often abbreviated to "OUTLET". In the
above explanation when associated with a company.
However, attributed to the interest of a productive
Muslim entrepreneur in this study is the SWOT in
the development of interest in cash waqf.
3 RESEARCH METHOD
This research is descriptive analytic. The population
in this study is entrepreneurial Muslim entrepreneurs
in Surabaya. The sampling technique used in this
research is purposive sampling, the technique of
determining the sample with certain considerations,
while the sample is taken as much as 99
respondents. Independent variables are strength,
weakness, opportunities and threat while the
dependent variable is the development of interest in
cash waqf. The Analysis data includes test validity
and reliability, descriptive analysis, multiple linear
regression analysis and classical assumption test.
The significance level in this research is 0,05. This
research was conducted in Surabaya. This study is
limited to productive age entrepreneurs in Surabaya
so that the scope of the study is smaller and limited
so that the results cannot be known widely the
potential of cash waqf in the group of subjects with
large amounts. It is recommended for subsequent
research so that the object being studied more
widely so that the data obtained more.
SWOT Analysis on Interest Development of Cash Waqf of Moslem Productive Age Entrepreneurs in Surabaya
211
4 RESULTS AND DISCUSSION
This is a description result of the research along with
respondent’s response related to variable of strength,
weakness, opportunities, threat and interest
development of cash waqf in Surabaya:
Table 1: Variable of strength, weakness, opportunities,
threat and interest development of cash waqf.
Variable
N
Mean
Strength (X1)
Weakness (X2)
Opportunities (X3)
Threat (X4)
Interest Development of
cash waqf (Y)
99
99
99
99
99
3,85
3,52
3,65
3,54
3,78
This table shows us that respondent response
average about Strength (3,85) weakness (3,52),
opportunities (3,65), threat (3,54) and interest
development of cash waqf (3,78) from class interval
included in category of 3,41< x 4,20 which show
respondent are giving agree value into question
about strength, weakness, opportunities, threat and
interest development of cash waqf.
In a regression equation it must be BLUE (Best
Linier Unbiased Estimator), meaning that decision
making through t test should not be biased. To
produce a BLUE decision, it must be fulfilled with
some basic assumptions (classical).
The multi-collinearity test aims to test whether in
the regression equation found the correlation
between independent variables. Good regression
model should not occur correlation between
independent variables. The Variance Inflation Factor
(VIF) according to Ghozali (2011: 105) is the
detection of the absence of multi-collinearity which
has the following condition:
a. VIF value less than 10 point
b. The tolerance number more than 0,10 point
Then to find out whether the model of structural
equation produced does not occur autocorrelation, it
can be tested by Durbin-Watson. From the statistical
calculation results obtained Durbin-Watson value of
1.952. Durbin-Watson values obtained are located
on the criterion 1.66 D-W 2.34 means that the
model of structural equations can be concluded there
is no autocorrelation.
Detection of heteroscedasticity according to
Ghozali (2011: 139), if the distribution of the points
is above and below the zero on the Y axis and does
not form a clear pattern, then heteroscedasticity does
not happen.
Table 2: Partial Result Each Variable
No.
Variable
t count
t table
1
Strength
2,093
1,986
2
Weakness
2,397
1,986
3
Opportunities
5,675
1,986
4
Threat
3,691
1,986
1. Partial Test Influence Variable Strength Against
Development of interest in cash waqf.
From table 19 we get the sig value. Strength
variables 0.039 <0.05 (level of significance),
then H0 is rejected and H1 is accepted. Thus the
influence of Strength on the development of the
cash waqf interest of Moslem entrepreneurs in
waqf is significant.
2. Partial Test of Effect of Weakness Variable on
Development of cash waqf interest.
From table 8 we get the sig value. Weakness
variables 0.019 <0.05 (level of significance),
then H0 is rejected and H1 is accepted. Thus the
influence of Weakness on the development of
cash waqf interest in Surabaya Endowments
Board is significant.
3. Partial Test of the Influence of Variable
Opportunities on the Development of cash waqf
interest.
From table 8 we get the sig value. Opportunities
variables 0,000 <0.05 (level of significance),
then H0 is rejected and H1 is accepted. Thus the
influence of Opportunities on the development of
cash waqf interest in Surabaya Endowments
Board is significant.
4. Partial Test of Effect of Threat Variables on
Development of cash waqf interest.
From table 8 we get the sig value. Threat
variables 0,000 <0.05 (level of significance),
then H0 is rejected and H1 is accepted. Thus the
effect of Threat on the development of cash waqf
interest in Surabaya Endowments Board is
significant.
Table 3: Model Summary.
R
R Square
Adjusted R
Square
Durbin
Watson
.709
a
0.502
0.481
1,9
a Predictors: (Constant), Threat, Weakness,
Opportunities, Strength
From the table above, it is known that R square
(R²) of 0,502 or 50,2% indicate contribution or
contribution from Strength, weakness, opportunity,
and joint treatment variable toward development of
waqf cash interest in Waqf Board Surabaya is big.
ICPS 2018 - 2nd International Conference Postgraduate School
212
While the remaining 49.8% is contributed by other
factors.
Multiple correlation coefficient is used to
measure the closeness of the relationship between
Strength, weakness, opportunity, mutual treatment
together towards the development of cash waqf
interest in Waqf Board Surabaya. The coefficient of
multiple correlation is shown by (R) of 0.709 or
70.9%. These results indicate that the correlation or
relationship between independent variables are
together towards the development of cash waqf
interest in Surabaya Endowments Board has a close
relationship.
This study is limited to productive age
entrepreneurs in Surabaya so that the scope of the
study is smaller and limited so that the results cannot
be known widely the potential of cash waqf in the
group of subjects with large amounts. It is
recommended for subsequent research so that the
object being studied more widely so that the data
obtained more.
5 CONCLUSION
From the test results of the influence of each
independent variable is partially known that all
independent variables consisting of the variable
strength, weakness, opportunity and threat partially
significant effect on the development of interest in
cash waqf. Therefore, the research hypothesis that
the variable strength, weakness, opportunity and
threat partially significant effect on the development
of interest in cash waqf in Surabaya is acceptable.
Then to know the most dominant variable among
other independent variables that affect the dependent
variable is by looking at the ranking or the greatest
value of the beta-standard coefficients. It appears
that the sequence of variables that have the greatest
beta value is the opportunity (X3) with a beta value
of 0.436. Thus it can be seen that the variables of
opportunity (X3) have the most dominant influence
on the development of cash waqf interest in
Surabaya, so that with this great opportunity to be an
alternative productive age entrepreneurs to make
cash waqf and facilitate in its distribution.
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