Risk Management Framework for Social Enterprise: A Case of Vegetarian Restaurant

Authors

DOI:

https://doi.org/10.21512/bbr.v10i2.5760

Keywords:

risk management, risk assessment, social enterprise

Abstract

The purpose of this research was to find out the risks influenced the field of business for social enterprises, and how these risks affected the aspects of social enterprise. This research used a qualitative research approach. The data analyzed in this research were the results of questionnaires and interviews with 17 informants from the vegetarian restaurants in Batam. The results of the questionnaire were processed using Analytic Hierarchy Process (AHP) as analytical tools. This research used descriptive statistical analysis techniques as a data analysis. The results show that the risks examined in this research influence financial losses, image, growth, and quality of the organization. The intention and behavior risk has the highest effect, while financial risk is the lowest.

Dimensions

Plum Analytics

Author Biography

Didi Sundiman, Universitas Universal

Management Program

References

Bernardino, S., & Santos, J. F. (2018). Perception of feasibility and social new ventures success: An exploratory study. International Journal of Advances in Management, Economics and Entrepreneurship, 5(06), 1-8.

Berry-Stolzle, T. R., & Xu, J. (2018). Enterprise risk management and the cost of capital. Journal of Risk and Insurance, 85(1), 159-201. https://doi.org/10.1111/jori.12152

Bogodistov, Y., & Wohlgemuth, V. (2017). Enterprise risk management: A capability-based perspective. The Journal of Risk Finance, 18(3), 234-251. https://doi.org/10.1108/JRF-10-2016-0131

Bormiley, P., & Rau, D. (2016). A better way of managing major risks. Retrieved from https://commons.lib. niu.edu/bitstream/handle/10843/16860/Rau%20A%20better%20way%20of%20managing%20strategic%20risks.pdf?sequence=1&isAllowed=y

Brustbauer, J. (2016). Enterprise risk management in SMEs: Towards a structural model. International Small Business Journal: Researching Entrepreneurship, 34(1), 70-85. https://doi.org/10.1177/0266242614542853

Da Silva Etges, A. P. B., & Cortimiglia, M. N. (2019). A systematic review of risk management in innovationoriented firms. Journal of Risk Research, 22(3), 364-381. https://doi.org/10.1080/13669877.2017.1382558

Defourny, J., & Nyssens, M. (2010). Conceptions of social enterprise and social entrepreneurship in Europe and the United States: Convergences and divergences. Journal of Social Entrepreneurship, 1(1), 32-53.

https://doi.org/10.1080/19420670903442053

Dickinson, G. (2001). Enterprise risk management: Its origins and conceptual foundation. The Geneva Papers on Risk and Insurance. Issues and Practice, 26(3), 360-366.

Florio, C., & Leoni, G. (2017). Enterprise risk management and firm performance: The Italian case. The British Accounting Review, 49(1), 56-74. https://doi.org/10.1016/j.bar.2016.08.003

Gray, C. F., & Larson, E. W. (2006). Project management: The managerial process. Boston: McGraw Hill/Irwin.

Karakaya, E., & Karakaya, G. (2017). Developing a risk management framework and risk assessment for non-profit organizations: A case study. In H. Dinçer & Ü. Hacioğlu (Eds.), Risk management, strategic thinking and leadership in the financial services industry: A proactive approach to strategic thinking (pp. 297-308).

Kurniawan, A., & Wibowo, A. (2017). Maturitas enterprise risk management kontraktor besar di Indonesia dan faktor-faktor yang memengaruhinya. Jurnal Teknik Sipil, 24(3), 257-268. https://doi.org/10.5614/jts.2017.24.3.9

Lamy, E. (2019). How to make social entrepreneurship sustainable? A diagnosis and a few elements of a response. Journal of Business Ethics, 155(3), 645-662.

Lechner, P., & Gatzert, N. (2018). Determinants and value of enterprise risk management: Empirical evidence from Germany. The European Journal of Finance, 24(10), 867-887. https://doi.org/10.1080/1351847X.2017.1347100

Lundqvist, S. A., & Vilhelmsson, A. (2018). Enterprise risk management and default risk: Evidence from the banking industry. The Journal of Risk and Insurance, 85(1), 127-157. https://doi.org/10.1111/jori.12151

Rumiyati, & Sundiman, D. (2017). Peran manajemen pengetahuan pada kapasitas inovasi Usaha Kecil dan Menengah (UKM) (Studi pada UKM di Kota Sampit). Profit (Jurnal Penerapan Ilmu Manajemen dan Kewirausahaan), 2(2), 136-148.

Saeidi, P., Saeidi, S. P., Sofian, S., Saeidi, S. P., Nilashi, M., & Mardani, A. (2019). The impact of enterprise risk management on competitive advantage by moderating role of information technology. Computer Standards & Interfaces, 63(March), 67-82. https://doi.org/10.1016/j.csi.2018.11.009

Saragih, S. H. (2013). Penerapan metode Analytical Hierarchy Process (AHP) pada sistem pendukung keputusan pemilihan laptop. Pelita Informatika Budi Darma, IV(2), 82-88.

Sari, R. A., & Yuniarti, R. (2017). Analisa manajemen risiko pada industri kecil rotan di Kota Malang. Journal of Industrial Engineering Management, 2(2), 40-47. http://dx.doi.org/10.33536/jiem.v2i2.151

Sengupta, S., & Sahay, A. (2017). Social entrepreneurship research in Asia-Pacific: Perspectives and opportunities. Social Enterprise Journal, 13(1), 17-37. https://doi.org/10.1108/SEJ-11-2016-0050

Soltanizadeh, S., Abdul Rasid, S. Z., Mottaghi Golshan, N., & Wan Ismail, W. K. (2016). Business strategy, enterprise risk management and organizational performance. Management Research Review, 39(9), 1016-1033.

Sulphey, M. M., & Alkahtani, N. S. (2017). Economic security and sustainability through social entrepreneurship: The current Saudi scenario. Journal of Security and Sustainability Issues, 6(3), 479-490. https://doi.org/10.9770/jssi.2017.6.3(12)

Sundiman, D. (2017). Human resource management in the enhancement processes of knowledge management. Binus Business Review, 8(3), 167-173. https://doi.org/10.21512/bbr.v8i3.3708

Sundiman, D., Wu, C. H., Mursidi, A., Johan, S. B. P., & Indahingwati, A. (2019). Knowledge management key factors: An empirical research on small and medium-sized enterprises in Indonesia. International Journal of Business and Systems Research, 13(2), 139-161. https://doi.org/10.1504/IJBSR.2019.098650

Tan, W. L., Williams, J., & Tan, T. M. (2005). Defining the ‘social’ in ‘social entrepreneurship’: Altruism and entrepreneurship. The International Entrepreneurship and Management Journal, 1(3), 353-365. https://doi.org/10.1007/s11365-005-2600-x

Teberga, P. M. F., Oliva, F. L., & Kotabe, M. (2018). Risk analysis in introduction of new technologies by startups in the Brazilian market. Management Decision, 56(1), 64-86. https://doi.org/10.1108/MD-04-2017-0337

Urbano, D., Ferri, E., Alvarez, C., & Noguera, M. (2017). Social entrepreneurship and institutional conditions: An empirical analysis in Spain. In M. Peris-Ortiz, F. Teulon, & D. Bonet-Fernandez (Eds.), Social entrepreneurship in non-profit and profit sectors (pp. 53-64). Cham: Springer.

Wu, D. D., Chen, S. H., & Olson, D. L. (2014). Business intelligence in risk management: Some recent progresses. Information Sciences, 256(January), 1-7. https://doi.org/10.1016/j.ins.2013.10.008

Downloads

Published

2019-07-31
Abstract 1588  .
PDF downloaded 1018  .