RISK MANAGEMENT OF START-UP COMPANY (CASE STUDY: SM COMPANY)

• Main Author: Ikhasari, Anita
• Format: Theses
• Language: Indonesia
• Subjects: Manajemen umum
• Online Access: https://digilib.itb.ac.id/gdl/view/54702
• Institution: Institut Teknologi Bandung

Artificial Intelligence (AI) is the driving force of the industrial revolution 4.0 that supports all industrial sectors to lead industrial digitalization. In order to support industries in Indonesia to navigate the digital and industrial 4.0 eras, PT. Telkom Indonesia has a strategic role in industrial infrastructure 4.0 through Amoeba Management. SM Company (not a real name) is one of the startup manages by Amoeba Management that has been successful and has already launched its product in the VR & AR platform. SM Company faces a variety of challenges as it runs its business. In March 2020, the Covid-19 pandemic had hit Indonesia and had a negative impact on the national economy. Many companies, especially startups are getting a difficult situation. SM Company is also affected and has to face any risks that may occur from the uncertain conditions by the pandemic that can impact the stability of the company. Therefore, to maintain stabilization and anticipate any risks and failures due to uncertainty during the pandemic, the effectiveness of implementing risk management can help SM Company through difficult times. The implementation of risk management of SM Company was considered to overcome the problems mentioned following ISO 31000, which contains risk management principles and guidelines. According to ISO 31000, risk management has three elements: principle, framework, and process. Identifying the risks that may occur in SM Company is the first step in the risk management process. Risk identification comes by interview and discussion with the CEO, external analysis, internal analysis, and SWOT analysis. After defining risk identification, creating risk measurement using Analytical Hierarchy Process (AHP) to defined risk owned by SM Company. Next, risk evaluation which maps the risk and evaluates the amount of risk to be mitigated. The last step is creating an implementation plan for SM Company. Based on the results, SM Company has 6 risk categories, including Business Risk, Financial Risk, Operational Risk, Reputational Risk, and Legal/Regulatory Risk. While in detail, there is no risk categorized in the critical risk level and in the low-risk level. There are 9 risks categorized as high risks and 24 risks categorized as medium risks. The implementation plan and the schedule were formulated for high-risk levels. The action plan consists of a strategy in how to address risk, what action to be taken, and who is responsible for action to reduce the likelihood and impact of these risks.