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The rapid development of the pharmaceutical industry in Indonesia presents both an opportunity and a challenge in increasing company value amidst the dynamics of an increasingly digital and competitive capital market. This phenomenon demonstrates that strong operational performance does not always translate into high market value, making it crucial to identify internal factors that influence company value, particularly in the pharmaceutical subsector, which plays a strategic role in Indonesia.This research aims to analyze the effect of Working Capital Turnover, Cash Turnover, Liquidity, and Profit Growth on Company Value in pharmaceutical companies listed on the Indonesia Stock Exchange for the 2021-2024 period. The research method used was quantitative with an explanatory approach. The sampling technique used total sampling, with a sample size of 10 companies. Secondary data, in the form of financial statements, were analyzed using multiple linear regression analysis.The results indicate that only Cash Turnover significantly impacts company value, with a negative effect, while Working Capital Turnover, Liquidity, and Profit Growth do not. These findings suggest that efficient working capital management and consistent profit growth play a crucial role in increasing the value of pharmaceutical companies. This research is expected to be a reference for management in strategic decision making and for academics for further research.  

This study examines the comparative profitability of PT Unilever Indonesia Tbk before and during the boycott issue that emerged as part of the Boycott, Divestment, and Sanctions (BDS) movement in 2023. Profitability was selected as the focus because it is a key financial performance indicator that reflects the company’s ability to generate returns under changing social and economic pressures. The research aims to evaluate differences in financial performance using three indicators: Return on Assets (ROA), Return on Equity (ROE), and Net Profit Margin (NPM) across two periods, namely before the boycott (2021–2022) and during the boycott (2023–2024). Employing a quantitative descriptive-comparative approach, the study analyzed financial ratios and applied the Wilcoxon Signed-Rank Test. The findings reveal a decline in ROA from 30.20% (2021) and 29.29% (2022) to 28.81% (2023) and 20.99% (2024), as well as a drop in NPM from 14.56% and 13.02% to 12.49% and 9.59% during the boycott period. Conversely, ROE increased to 156.74% in 2024, largely driven by a sharper decline in equity compared to net profit. Nevertheless, statistical testing indicates no significant difference in profitability between the two periods. These results suggest that while profitability trends weakened, the boycott had no statistically significant impact, implying that investor and consumer responses were not strong or sustained enough to materially affect financial performance.

This study aims to analyze the financial performance differences of Bank Syariah Indonesia before and after the merger based on three key ratios: Financing to Deposit Ratio (FDR), Operational Expenses to Operating Income (BOPO), and Return on Assets (ROA). A comparative quantitative approach was applied using financial statement data from the 2017–2024 period, analyzed with normality tests and paired sample t-tests. The normality test results indicate that all data are normally distributed. The paired sample t-test reveals no significant difference in the FDR ratio before and after the merger, while significant differences are found in BOPO and ROA. These findings indicate that the merger affected the efficiency and profitability of the bank, but not directly the effectiveness of fund distribution. The study implies that Bank Syariah Indonesia needs to strengthen operational efficiency and asset management post-merger. Future researchers are encouraged to include non-financial variables and apply qualitative approaches to gain more comprehensive insights.

The phenomenon of the Covid-19 pandemic has caused several property and real estate companies to experience financial difficulties. The domino effect of the Covid-19 pandemic has had a major impact on the economy, especially property and real estate companies. Many companies experience a decline in financial conditions that occurred before bankruptcy or can be called financial distress. This study aims to provide empirical evidence regarding the effect of profitability, liquidity, and leverage on financial distress. The number of companies that were sampled in this study were 23 companies listed on the Indonesia Stock Exchange (IDX) during the 2019 - 2020 period. The urgency of this research was carried out because in the current state of the economic crisis, it is necessary to organize a financial strategy through maximum profitability, liquidity, leverage will avoid Financial Distress on the company. The results of this study indicate that partially profitability (X1), liquidity (X2), leverage (X3) have a significant effect on financial distress in property and real estate companies. The results of the study also show that simultaneously profitability (X1), liquidity (X2), leverage (X3) have a significant effect on financial distress in property and real estate companies. Based on the results of these studies, this research has implications for investors and potential investors to be wiser in making investment decisions in a company, taking into account the condition and financial performance of the company and other factors so that the investment becomes more precise and generates the desired profit.

The development of Islamic banking plays a crucial role in driving economic growth through the principles of fair finance. However, the performance of Islamic banks still faces challenges in maintaining stable profitability. Two key factors often cited as determinants of performance are risk management and customer satisfaction. On the one hand, effective risk management is necessary to control problem financing, while on the other hand, customer satisfaction fosters loyalty and funding stability. However, the existing literature tends to examine these two aspects separately, thus lacking a complete picture of their integrative relationship with profitability. This study, a systematic literature review (SLR), aims to analyze the relationship between risk management, customer satisfaction, and profitability of Islamic banks, as well as their implications for economic growth. The review process adopted the PRISMA 2020 protocol, encompassing academic publications from 2015–2025 from various databases. Article selection was conducted using strict inclusion and exclusion criteria, ensuring that only relevant studies were further analyzed. The study's findings demonstrate two key pillars supporting Islamic banking performance: effective risk management—particularly in controlling problem financing—and a high level of customer satisfaction, which supports loyalty and the stability of third-party funds. However, the findings also indicate a methodological gap. The literature rarely develops models that examine the simultaneous influence of risk management and customer satisfaction on profitability. Furthermore, the limitations of qualitative research and the weaknesses of customer satisfaction measurement instruments hinder a more comprehensive understanding. In conclusion, this study emphasizes the importance of developing a more integrative theory of Islamic banking performance. Future managerial strategies should emphasize the harmonization of risk management and service orientation, so that Islamic banks not only maintain profitability but also contribute more significantly to economic growth.

This study aims to analyze the influence of company characteristics, including Current Ratio, Debt to Asset Ratio, and Company Size, on Financial Performance. The population studied consists of companies in the F& B sector listed on the IDX during the period 2020-2024. The sample in this study was selected using the purposive sampling method. Out of the 24 companies listed in the sector, 3 companies were eliminated because they did not meet the established criteria, resulting in a final sample size of 21 companies. To test the influence of independent variables on the dependent variable, the multiple linear regression analysis technique was applied. The research results show that Company Size has a positive and significant effect on financial performance, while the Debt to Asset Ratio has a negative and significant effect on financial performance. On the other hand, the Current Ratio does not show a significant effect on financial performance. However, the Current Ratio does not appear to significantly affect financial performance. While it is a measure of liquidity, the results of this study suggest that liquidity alone does not guarantee profitability or financial success. It is possible that other factors, such as market conditions or management practices, may play a more dominant role in influencing financial performance. Overall, this research emphasizes the need for companies in the F&B sector to carefully manage their debt levels and consider the benefits of growing their company size to improve financial performance. Future studies could explore the role of other factors, such as operational efficiency and market conditions, to gain a more comprehensive understanding of what drives financial success in the industry.

This study addresses common problems in start-up businesses: lack of financial management and low presentation of financial statements due to limited human resources. With a conceptual qualitative research (CQR) approach, the research integrates accounting theory and business life cycle theory to design a process for presenting relevant financial statements for business actors who run individual operations. The main findings point to two things: first, the need for resources that understand finance is an inevitability that can be met through education, training, and induction observation; Second, the synthesis of accounting theory and business life cycle maps the conceptual area for the report presentation model that is tailored to the conditions of the beginner business. The proposed model covers the scope of management ranging from recording transactions on the cash mutation book, journaling to reveal the double impact of transactions, to grouping account balances on the ledger to produce relevant information. This process differs from the conventional accounting cycle in that it starts from the cashier function combined with the accounting function, thus reducing the need for separate specialists. The combination of cashier and accountant functions in one practical and relevant accounting flow for individual businesses, allows business owners to supervise their financial performance and position through simple but informative reports.

Public Financial Management (PFM) is a critical element of good governance, transparency, and accountability, with direct implications for education and youth development. Despite its significance, research on PFM in these sectors remains fragmented, limiting a holistic understanding of its impact. This study conducts a Systematic Literature Review (SLR) to synthesize existing scholarship on PFM in education and youth affairs, following the PRISMA 2020 guidelines. A comprehensive search across Scopus and Web of Science identified peer-reviewed studies addressing financial governance, budgeting practices, accountability mechanisms, and financial literacy programs. The findings reveal that effective PFM contributes to improved educational outcomes by enhancing financial literacy, ensuring timely budget disbursement, promoting student savings, and enabling equitable access to financial education. Conversely, persistent challenges such as delays in fund allocation, weak accountability, and disparities in program implementation continue to hinder progress. The review also highlights the broader implications of SLRs in advancing curriculum innovation, guiding evidence-based policymaking, and strengthening accountability frameworks in education finance. This study contributes to both theory and practice by offering an integrated synthesis of PFM in education and youth affairs, identifying critical research gaps, and providing recommendations for policymakers and practitioners. The results underscore the importance of embedding financial literacy into school curricula, adopting performance-based budgeting, and fostering collaboration between researchers and policymakers. Ultimately, strengthening PFM in education not only enhances institutional efficiency but also equips youth with the financial skills and opportunities required for sustainable social and economic development The findings from this review contribute to the ongoing discourse on PFM by offering an integrated synthesis of current knowledge. The study not only uncovers critical research gaps but also provides actionable recommendations for both policymakers and practitioners.

A company's financial performance is one of the main indicators in assessing the health and sustainability of a business entity's operations. Evaluation of financial performance is crucial, especially for large companies operating in strategic sectors such as telecommunications. PT. XL, as a telecommunications company listed on the Indonesia Stock Exchange, requires regular performance assessments to provide a clear picture of the effectiveness of its business strategy and its ability to generate profits. This study aims to analyze PT. XL's financial performance using a profitability ratio approach. The research method used is descriptive quantitative, utilizing secondary data sourced from the company's financial statements, including the balance sheet, income statement, and other financial statements for the 2021–2023 period. The profitability ratios analyzed include Net Profit Margin (NPM), Return on Assets (ROA), Return on Equity (ROE), Gross Profit Margin (GPM), and Earnings Per Share (EPS). These five ratios were chosen because they are able to describe the company's ability to generate profits, both in terms of sales, total assets, and shareholder equity. The analysis results indicate that PT. XL's financial performance during the study period is still less than optimal. This is reflected in the profitability ratio, which is below the average standard for the Indonesian telecommunications industry. This condition indicates that the company has not been able to optimally manage its resources to generate competitive profits. This finding has important implications, namely the need to evaluate financial management strategies, operational cost efficiency, and improve service quality to increase company profitability in the future. Therefore, this study confirms that profitability ratio analysis is a crucial instrument for assessing a company's financial condition and serves as a basis for formulating performance improvement strategies.  

This study aims to analyze the influence of Profitability, Liquidity, Leverage, Opinion Shopping, and Public Accounting Firm (KAP) Size on Going Concern Audit Opinion in property and real estate sector companies listed on the Indonesia Stock Exchange (IDX) for the 2020–2024 period. The audit opinion going concern is an important issue because it reflects the company's ability to maintain its business continuity in the midst of economic uncertainty and increasingly complex market dynamics. The research population includes all companies in the property and real estate sectors on the IDX, with sample selection using purposive sampling techniques that resulted in 60 companies as the object of the study. The collected data was analyzed using the logistic regression method to test the influence of each independent variable on the audit opinion going concern. The results of the study show that profitability has a negative and significant effect on the audit opinion of going concern, which means that the higher the level of profitability of the company, the less likely the auditor to give an audit opinion of going concern. Furthermore, Opinion Shopping has been proven to have a positive and significant effect on going concern audit opinions, so that the practice of seeking alternative auditor opinions has the potential to increase the risk of issuing going concern opinions. Meanwhile, the variables Liquidity, Leverage, and KAP Size did not show a significant influence on the audit opinion going concern. These findings confirm that certain financial performance factors as well as management behavior in seeking auditor opinions have an important role in determining audit opinion going concern, while other factors such as the size of the KAP are not necessarily determinative.

This study aims to analyze and determine how managerial ownership, firm size, leverage, and capital structure affect financial performance in insurance companies listed on the Indonesia Stock Exchange from 2019 to 2022. The study focused on 15 companies that met the sample criteria and were deemed representative of the Indonesian insurance industry during that period. The data used in this study were sourced from officially published company financial reports. Furthermore, the data was processed using Microsoft Excel 2018 and SPSS version 25 software to ensure accurate analysis results. The analysis method used was multiple linear regression, as it is considered appropriate for testing the influence of more than one independent variable on the dependent variable. This approach allows the researchers to identify whether each independent variable has a significant effect on financial performance when tested simultaneously. The results showed consistent findings across all variables. First, managerial ownership has a positive and significant effect on financial performance. This indicates that the higher the managerial ownership, the better the alignment of interests between managers and shareholders, leading to improved financial outcomes. Second, company size also has a positive and significant effect on financial performance, meaning the larger the company, the better the performance. Furthermore, leverage has been shown to have a positive and significant effect on financial performance. This suggests that optimal use of debt can enhance company performance by providing additional resources for growth. Finally, capital structure also has a positive and significant effect on financial performance, indicating that the right combination of debt and equity can increase company value. Overall, the findings highlight the importance of financial and managerial decisions in shaping the performance of insurance companies in Indonesia during the observed period.

Banking is a key pillar of the financial system, playing a crucial role as an intermediary between those with excess funds and those in need of financing. In the context of post-pandemic economic recovery in the 2022–2024 period, bank sustainability and resilience, particularly in terms of profit-generating ability, are crucial aspects to consider. This study was conducted to analyze the extent to which capital structure and intermediation efficiency influence the profitability of banks listed on the Indonesia Stock Exchange. Capital structure in this study is proxied by the Capital Adequacy Ratio (CAR), while intermediation efficiency is measured by the Loan to Deposit Ratio (LDR). The profitability indicator used is Return on Assets (ROA), which reflects a bank's effectiveness in utilizing its assets to generate profits. This research methodology uses a quantitative approach through multiple linear regression analysis with secondary data in the form of annual financial reports from 111 banks for the 2022–2024 period. The analysis results show that simultaneously, CAR and LDR variables have a significant effect on ROA. Furthermore, both variables have been shown to contribute positively to increasing bank profitability. In other words, maintaining adequate capital and efficient credit management can strengthen overall financial performance. This finding offers strategic implications for bank management in formulating capital and liquidity management policies. Optimizing these two aspects not only impacts short-term profit achievement but also contributes to the stability and sustainability of banking profitability in the long term. Therefore, banks need to ensure a strong capital strategy coupled with efficient intermediation to be more resilient in facing future economic dynamics.

This study aims to analyze the influence of capital structure, liquidity, sales growth, and green accounting, assessed through environmental performance and environmental costs, on the profitability of companies. The research focuses on the food and beverage sub-sector listed on the Indonesia Stock Exchange (IDX) during the 2020–2024 period, which represents one of the most dynamic and environmentally impactful industries in Indonesia. The sample consists of 30 companies selected using a purposive sampling technique based on predetermined criteria, ensuring the representativeness and relevance of the data analyzed. The study employs multiple linear regression analysis using SPSS version 22.0 to test the hypotheses and measure the extent to which the independent variables contribute to profitability as the dependent variable. The findings reveal that liquidity and sales growth exert a positive and significant influence on profitability, indicating that firms with higher liquidity levels and stronger sales growth are better positioned to enhance their financial performance. In contrast, capital structure demonstrates a negative and significant effect, suggesting that higher levels of debt reduce profitability due to increased financial burdens. Similarly, green accounting, when assessed through environmental performance, also shows a negative and significant impact, implying that companies focusing on environmental initiatives may face higher costs that suppress short-term profitability. However, green accounting as measured by environmental costs does not show any significant effect on profitability, highlighting that disclosure or allocation of environmental costs alone may not directly translate into financial outcomes. Overall, the study concludes that capital structure, liquidity, sales growth, and green accounting—when measured through both environmental performance and costs—jointly influence the profitability of food and beverage companies on the IDX during the observed period.

This study aims to analyze the business development strategy of Siecraft, a creative that transforms waste into environmentally friendly and marketable products. The research uses a qualitative method with a case study approach through in-depth interviews, observation, documentation, and the distribution of questionnaires to 30 respondents. The analysis focuses on production, finance, marketing, and human resources, supported by a SWOT analysis. The results show that Siecraft’s main strengths lie in its unique products, use of waste materials, and social value. However, weaknesses remain in digital promotion and production management. The SWOT analysis places the business in Quadrant I (aggressive strategy). Development strategies are directed toward product innovation, improving digital promotion quality, and expanding partnerships to support business sustainability. However, despite these strengths, the business faces several challenges. The weaknesses identified include limited digital promotion efforts and inefficient production management. These areas require urgent attention to enhance overall business performance and market visibility. Furthermore, the SWOT analysis places Siecraft in Quadrant I, signifying an aggressive growth strategy. This suggests that the company should capitalize on its current strengths while addressing its weaknesses to achieve sustainable growth. The recommended development strategies include focusing on product innovation to keep up with market trends and customer demands. Improving the quality of digital marketing efforts is also crucial to expand its customer base and reach new markets. Additionally, expanding partnerships with other businesses and organizations can provide the necessary resources and networks to foster sustainability and long-term success. Overall, the business development strategy aims to strengthen Siecraft’s competitive edge and promote environmental consciousness while achieving financial success.

This study aims to determine the influence of transformational leadership style, physical work environment, and intrinsic compensation on employee performance on CV. Nina Etik Garment Indonesia, a written batik industry operating in Mojokerto. The background of this research departs from the phenomenon of low employee productivity which is allegedly influenced by internal and external factors of the organization. The research method used is a quantitative approach with a census method for all permanent employees totaling 39 people. Data analysis was carried out using Structural Equation Modeling–Partial Least Square (SEM-PLS) based on the SmartPLS 4.1.1.2 application. The results show that only the physical work environment has a significant effect on employee performance. This indicates that the factors of comfort, security, and the feasibility of work facilities have a dominant role in improving employee performance. In contrast, transformational leadership styles and intrinsic compensation have not been shown to have a significant impact. These findings provide an idea that the motivation of employees in the creative industry sector based on local culture such as written batik is more influenced by the real working conditions they face on a daily basis than by a leadership approach or non-financial reward alone. The practical implication of this research is the need for company management to prioritize improving the physical aspects of the work environment, such as lighting, ventilation, cleanliness, and ergonomic workspace layout. By creating a comfortable and supportive work environment, employee productivity and performance can be significantly improved. In addition, although there is no significant effect in this study, leadership style and intrinsic compensation still need to be considered in order to create a balance in the sustainable human resource management strategy and be able to support innovation, creativity, and competitiveness of the company.

This study the analyze the influence of financial performance as a predictor of stock price in the property and real estate sector listed on the IDX for the 2020-2024 period, using a sample consists of 12 property companies. The financial performance variables used in this study include ROE, EPS, CR, and TATO. The result of show that simultaneously,all four variables have a significant  effect on stock prices. Partially, only ROE, EPS, and TATO have a significant impact, while CR has no significant effect. The analysis methods include descriptive statistics, classical assumption tests, multiple linear regression, and F Satatistical tests. The findings confirm that profitability, particularly (ROE and EPS) and asset efficiency (TATO), are the factors consideres  by investors when evaluating stocks in the property sector.  The analysis methods used in this study include descriptive statistics to summarize the data, classical assumption tests to ensure the validity of the regression model, multiple linear regression to examine the relationship between the financial performance variables and stock prices, and F-statistical tests to evaluate the overall significance of the model. The findings suggest that profitability, particularly ROE and EPS, and asset efficiency, represented by TATO, are the key factors considered by investors when evaluating stocks in the property sector.These results imply that investors in the property and real estate sector prioritize financial performance metrics that reflect the company's ability to generate returns and utilize its assets effectively. Specifically, ROE and EPS serve as crucial indicators of profitability and are closely monitored by market participants. On the other hand, CR, which measures the company's short-term liquidity, does not appear to have the same level of influence on stock prices.  

This study examines control activities in the delay in the return of Community Economic Empowerment (PEM) funds in Oeba Village, which is one of the policies of the Kupang City Government with interest-free funding assistance through the Community Empowerment Institution (LPM) of Oeba Village with the aim of developing productive businesses to increase the economic potential of the community. This study aims to determine the role of control activities in handling delays in the return of funds (PEM) and to determine the factors that cause the occurrence of arrears of funds (PEM) in Oeba Village, Kota Lama District. The type of data in this study is primary data obtained directly in the form of interviews with employees of the Community Empowerment Institution in Oeba Village. The data analysis technique used in this study is descriptive qualitative. The results of the study indicate that the delay in the return of funds (PEM) in Oeba Village is largely caused by weak supervision and performance reviews, in addition, inadequate human resource development and the absence of clear performance indicators hamper program evaluation. Factors causing PEM Fund arrears include business congestion, lack of understanding, minimal assistance to PEM fund recipients, poor financial management, and sanctions that are not strictly enforced

In addition to the key findings, the study also emphasizes the importance of fostering a deeper understanding of the role of audit committees within the broader context of financial governance. Despite the recognition of the audit committee’s importance in improving the quality of financial reporting, the findings indicate that there is a significant gap in the implementation of best practices across private commercial banks in Iraq. This gap is attributed to the lack of full compliance with regulatory requirements regarding the composition of audit committees, particularly in terms of ensuring independence and financial expertise. The study further reveals that while the audit committee's independence and expertise play a crucial role in enhancing the quality and relevance of financial information, many banks still struggle to implement effective oversight mechanisms. This situation is exacerbated by the complex regulatory environment in Iraq, where overlapping supervisory authorities and weak enforcement of governance mechanisms hinder the effectiveness of financial reporting processes. The lack of coordination between audit committees and internal audit units, as well as the limited ability to assess financial performance, further undermines the oversight function of audit committees. To address these challenges, the study suggests several recommendations, including enhancing the legal framework to enforce stricter compliance with the formation of qualified and independent audit committees. Additionally, increasing awareness and training among stakeholders about the importance of audit committees and their roles in ensuring transparent and reliable financial disclosures is crucial. Strengthening the oversight function and improving coordination between audit committees and internal audit units will also help in mitigating the existing weaknesses in the financial reporting process. These steps are essential for improving the reliability of financial information, thereby fostering investor confidence and contributing to the overall stability of the banking sector in Iraq.

This study aims to analyze the effect of profitability, firm growth, capital structure, and firm size on firm value in the infrastructure sector listed on the Indonesia Stock Exchange during the period 2020–2024. The data used in this study are secondary data obtained from company financial statements. The sampling technique employed was purposive sampling. The results show that profitability and firm size have a negative and significant effect on firm value. These findings indicate that increases in profitability and company scale do not automatically enhance market perceptions of firm value, possibly due to a misalignment between internal performance and investor expectations. Meanwhile, firm growth and capital structure do not have a significant effect on firm value. This suggests that the market does not yet regard growth or debt ratios as determining factors in evaluating companies in this sector. Furthermore, the results of this study highlight the importance of corporate management in managing internal factors that can influence market perceptions. Although profitability and company size negatively impact company value, this opens up opportunities for companies to focus more on communication strategies and information transparency with investors to mitigate investor expectations. Companies also need to revise their growth and capital structure policies to better align with market needs and the dynamics of the developing infrastructure sector. Furthermore, this study provides an important contribution to policymakers and financial practitioners in understanding the unique characteristics of the infrastructure sector in Indonesia. The insignificant influence of growth and capital structure suggests that external factors such as market conditions and regulations may be more dominant in determining company value in this sector. Therefore, further research could broaden its scope by incorporating macroeconomic variables or environmental and social aspects, which are currently of concern to investors in making investment decisions.

This study aims to analyze the financial performance of PT ABC Tbk during the period 2019–2023 using the Du Pont System as the primary analytical tool. The Du Pont System is widely recognized as a comprehensive method to evaluate a company’s overall performance by breaking down profitability into several key components: net profit margin, total asset turnover, return on investment (ROI), equity multiplier, and return on equity (ROE). The research employs a descriptive quantitative approach, with data sourced from secondary materials in the form of official financial statements published by the Indonesia Stock Exchange (IDX). A purposive sampling technique was applied to ensure the relevance and accuracy of the data analyzed. The findings reveal that the company’s financial performance throughout the five-year observation period has been less than optimal. Each of the main components of the Du Pont System showed average ratios that fell below the industry benchmark, indicating structural weaknesses in both profitability and efficiency. Specifically, the net profit margin and total asset turnover were constrained by high operational costs, while ROI and ROE were further pressured by volatility in foreign exchange rates. These inefficiencies highlight the vulnerability of the company’s financial structure to both internal management challenges and external macroeconomic factors. Based on the results, the study provides several strategic recommendations to improve financial performance. First, optimization of cost management is necessary to reduce operational inefficiencies that directly affect profit margins. Second, the implementation of foreign exchange risk mitigation strategies, such as hedging, is suggested to minimize the negative impacts of currency fluctuations. Finally, to strengthen revenue growth, the company is encouraged to adopt and expand digital marketing initiatives as a means of improving sales performance and market penetration. Overall, this study emphasizes the importance of integrating financial control with strategic innovation to ensure long-term sustainability and competitiveness in the pharmaceutical industry.