Take Home Seminar Riset Manajemen Risiko

Nama : Minda Malem S Pinem

Nim : 123011711043
Date : Dec 1, 2018

7. What is risk management from different implementation?

The different kinds f strategy on ERM adoption and investigating the mediating effect of ERM on
the relationship between business strategy and OP.
The result also indicate that ERM implementation has a significant positive impact on OP. Though
ERM is a partial mediator of the relationship between cost strategy and OP, it does not mediate the
relationship between differentiation strategy and OP.

8. What are the benefit for ERM implementation?

The benefit of ERM have helped organizations to :
 Reduce cost of capital
 Lessen earnings volatility, which is results in enhancel shareholder’s value
 Reduce stock price volatility, which results in enhanced shareholders;s value
 Gain competitive advantage through identifying risk that can be exploited
 Enhanced informed decision making ability
 Buid confidence for investor

9. Why we do need ERM?

Companies with cost leadership business strategy are more eager to implement ERM compared to
companies with differentiation strategy. The result also indicate that ERM relationship between cost
leadership strategy and operational performance, it does not mediate the relationship between
differentiation strategy and OP.

10. What are the challenge implementing ERM?

Contingent upon a number of factors inside and outside the firm, namely, environmental
uncertainty competition within industry, firm complexity, firm size and monitoring by board director.

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 The firm is also more likely to hire chief risk officer (CRO) and implement ERM, found that
company size, leverage, profitability, turnover, international diversification, ownership type and
appointment of the CRO have significant impacts on ERM adoption.

11. Explain ERM and

ERM is top-down approach which consider identifying, assessing and responding to strategic,
operational and financial risk. ERM adoption and appointment of CRO among firm in different
industries.

Enterprise risk management is, in essence, the latest name for an overall risk management
approach to business risks. Precursors to this term include corporate risk management, business
risk management, holistic risk management, and integrated risk management. Although each of
these terms has a slightly different focus, in part fostered by the risk elements that were of primary
concern to organizations when each term first emerged, the general concepts are quite similar.
Enterprise risk management is defined as “The process by which organizations in all industries
assess, control, exploit, finance and monitor risks from all sources for the purpose of increasing the
organization’s short and long term value to its stakeholders.

a. Governance
ERM adoption is attribute to both internal factor such as globalization size and shareholders
interest maximization and external factor such as organization, deregulation and industry
consolidation.

b. Supply Chain
Reduce stock price volatility, which results in enhanced shareholders;s value
Make cost leadership and competitive

c. Business Strategy or Competitive advance

Business strategy is outlined to achieve company’s objective based on internal and external
assessment. Argue that companies could gain competitive advantages from different bases
generic strategic : cost leadership, differentiation and focus.

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Acording the key elements of COSO, there are there definition;
1. ERM to be effective, it must be directly connected to company strategy.
2. ERM is designed recognize events that could have impact on company performance as
defined by it strategic objective.
3. ERM goal is to provide assurance that company achieves its strategic objectives. Then they
conclude that strategy and risk management should be aligned, and this is exactly where
strategic risk management comes in.

12. Explain the history of ERM

Enterprise Risk Management is a relatively new term that is quickly becoming viewed as the
ultimate approach to risk management. Consultants are advertising their ability to perform
enterprise risk management. Seminars devoted to this topic are being conducted to explain the
process, provide examples of applications and discuss advances in the field. Papers on enterprise
risk management are beginning to appear in journals and books on the topic are starting to be
published. Some universities are even starting to offer courses titled enterprise risk management. It
appears that a new field of risk management is opening up, one requiring new and specialized
expertise, one that will make other forms of risk management incomplete and less attractive.

13. Design a reaearch with ERM as one of your variable.

Research GAP
 Adanya Prinsip Going Concern
Dinamika pasar dan lingkungan bisnis menghadirkan rintangan besar bagi perusahaan
sehingga perusahaan harus memetakan arah yang tepat untuk kesuksesan perusahaan yang
berkelanjutan.
 Pentingnya strategi Keunggulan kompetitif
Perusahaan dapat memenangkan persainganterhadap kompetitor dibidang industrinya.
 Miliki Manajemen resiko perusahaan
Perusahaan harus memiliki manajemen risiko sehingga perusahaan dapat mencapai kinerja
organisasi yang lebih baik dengan strategi keunggulan kompetitif yang dimilikinya

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 NOVELTY
 Strategi bisnis, manajemen Resiko Perusahaan dan kinerja organisasi.
 Penelitian ini dilakukan di Malaysia dimana Strategi bisnis perusahaan ( cost leadership dan
differentiation strategi) terhadap kinerja organisasi yang dimediasi manajemen risiko
perusahaan.
(Business strategy, enterprise risk management and organizational performance; Sara
Soltanizadeh, siti zaleha Abdul Rasid, Nagress Mottaghi Golshan dan Wan Khairuzzaman
Wan ismail, 2016)

PENELITIAN SEKARANG
 Pengaruh Strategi Bisnis terhadap kinerja organisasi dengan Manajemen Risiko Perusahaan
sebagai variabel intervening.
 Penelitian ini dilakukan di Indonesia mendorong perusahaan memiliki keunggulan kompetitif
yang berdaya saing terhadap kompetitornya dengan menggunakan strategi topologi teori
Miles dan Snow yaitu prospector, defender, analyzer dan reactor.
 Perusahaan yang memiliki manajemen risiko akan menciptakan kinerja organisasi yang lebih
baik sehingga tercapai keberlanjutan perusahaan

GRAND THEORY
 Teori Agency
Menjelaskan hubungan kontraktual antara principal dan agen. Prinsipal adalah pihak yang
memberikan mandat kepada agen untuk melakukan kegiatan atas nama principal dalam
kapasitasnya sebagai pengambil keputusan (Jansen dan smith ,1984).
 Teori Keunggulan Kompetitif (competitive Advantage)
kemampuan yang diperoleh perusahaan melalui karakteristik dan sumber daya yang dimiliki
untuk dapat memiliki kinerja lebih tinggi dibandingkan dengan perusahaan lainnya yang ada
pada industri dan pasar yang sama (Michael porter).

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FRAMEWORK
(Independen ) (Intervening) (Dependen)

Strategy bisnis Manajemen Risiko Kinerja Organisasi

 Strategi Prospektor
 Strategi Defender
 Strategi Penganalisis
 Strategi Reaktor

HIPOTESIS
H1 : Strategi Prospektor berpengaruh positif terhadap Manajemen Risiko Perusahaan
H2 : Strategi Defender berpengaruh positif terhadap manajemen Risiko Perusahaan
H3 : Strategi Penganalisis berpengaruh positif terhadap Manjemen resiko perusahaan
H4 : Strategi Reaktor berpengaruh positif terhadap Manajemen Risiko Perusahan
H5 : Manajemen Risiko Perusahaan berpengaruh positif terhadap Kinerja Organisasi
H6 : Strategi Prospektor berpengaruh positif terhadap kinerja Organisasi yang
dimediasi Manajemen Risiko Perusahaan
H7 : Strategi Defender berpengaruh positif terhadap kinerja organisasi yang
dimediasi manajemen Risiko Perusahaan
H8 : Strategi Penganalisis berpengaruh positif terhadap kinerja organisasi yang
dimediasi Manjemen resiko perusahaan
H9 : Strategi Reaktor berpengaruh positif terhadap kinerja organisasi yang dimediasi
Manajemen Risiko Perusahaan