Open AccessRisk Capability Building Post Covid-19 Through Improving Competency in Risk Management: A Case Study of a Pioneer Bus Rapid Transit Company in Indonesia
Author(s) -
Victor Riwu Kaho
Publication year - 2021
Publication title -
research synergy foundation conference proceedings series/research synergy foundation conference proceeding series
Language(s) - English
Resource type - Journals
eISSN - 2807-6699
pISSN - 2807-5803
DOI - 10.31098/bmss.v1i5.446
Subject(s) - resilience (materials science) , covid-19 , pandemic , risk management , business , psychological resilience , public relations , process management , political science , finance , psychology , medicine , physics , disease , pathology , infectious disease (medical specialty) , psychotherapist , thermodynamics
The purpose of this study is to understand how a pioneer Bus Rapid Transit (BRT) company in Indonesia strengthens its business resilience when facing uncertainty due to the COVID-19 pandemic. A qualitative approach through distributing questionnaires followed by in-depth interviews and focused group discussion has helped discover that the pioneer BRT company is not fully prepared for the COVID-19 pandemic. The company then decided to strengthen risk management capabilities by increasing risk management competencies that support decision-making in responding to the impact of the COVID-19 pandemic. Risk leaders of the company believe that strengthening risk capabilities can boost the company's resilience in the face of the COVID-19 pandemic and succeeding in the new-normal era later. However, it is recommended that the company apply a business continuity plan/management (BCP/M) as a systematic and comprehensive approach to be more effective in dealing with future resilience and business continuity risks.