Three students from the Faculty of Administrative Sciences, Universitas Indonesia (FIA UI), secured 2nd place in the 2024 Management Festival Business Case Competition with the theme “Optimizing the Role of Digital Transformation to Build a Creative Business Industry in the Society 5.0 Era,” organized by Universitas Hayam Wuruk Perbanas on March 23, 2024. The winning team comprised Lucas Gabrielle Octory L.T, Addinda Lizaniya Desyaufa, and Muhammad Reza Pahlefy, all from the 2022 Business Administration cohort.

In their presentation, the team addressed the critical issue of how digital transformation can be optimized to build a resilient and sustainable creative business industry in the Society 5.0 era. Lucas highlighted that digital transformation has become a significant trend across various sectors, including creative industries such as design, art, entertainment, and media. According to him, these industries have utilized digital technologies to produce innovative products and services while engaging audiences more interactively.

“By optimizing the role of digital transformation, the creative industry can develop more innovative products and services, increase efficiency, expand market reach, and create more engaging experiences for consumers,” Lucas explained.

Addinda emphasized that the impact of digital transformation on the creative business industry in the Society 5.0 era is substantial for society. First, it opens new economic opportunities, creates jobs, and drives economic growth. Second, digital technology fosters innovation and creativity, leading to more diverse and appealing products and services.

“Optimizing digital transformation in the creative business industry in the Society 5.0 era provides significant economic, social, and cultural benefits to society. It enables greater collaboration and connectivity among creative industry players at both local and global levels. Through digital platforms, creators, designers, artists, and other professionals can easily collaborate, share ideas, and develop joint projects across geographical boundaries,” Lucas added.

Reza further elaborated that digital transformation promotes cultural exchange, diverse perspectives, and richer creative outputs. Additionally, it facilitates broader access and participation in the creative industry. With platforms like social media, websites, and mobile applications, previously underrepresented individuals and communities can promote their work, reach wider audiences, and engage in the creative economy.

“This encourages social inclusion, diversity, and richer cultural expression. Digital transformation also opens new income and entrepreneurial opportunities within the creative industry. Creators can leverage digital platforms to sell their products and services directly to consumers without relying on traditional intermediaries. Furthermore, new business models such as digital subscriptions and content sales provide alternative revenue streams for creative industry players,” Reza remarked.

Addinda stressed that by wisely optimizing digital transformation, the creative business industry can significantly contribute to fostering a more creative, inclusive, and prosperous society in the Society 5.0 era.

The team achieved 2nd place after successfully navigating the competition stages, from preliminary rounds to the final presentation, held between February 26 and March 23, 2024.

“As Business Administration students, we see business case competitions as a vital platform to demonstrate our understanding of the concepts we study in class,” Lucas shared.

Reza highlighted that participating in the competition was a tremendous source of motivation for the team to showcase their ability to apply theoretical knowledge in a real-world competitive environment, where they faced dozens of teams from leading universities across Indonesia.

“Our preparation involved studying the right frameworks, benchmarking relevant companies, and reviewing past competition proposals. To deliver an effective presentation, we adopted a consulting-style presentation deck and practiced for three hours daily—working on drafts, slide distribution, and presentation intonation,” Addinda explained.

“The first victory is when you convince yourself that you can win,” Lucas concluded.