Analysis of risk management implementation at Padang Raya Restaurant in Medan City

Fauzia Agustini; Khafi Puddin

doi:10.38156/imka.v5i2.649

Fauzia Agustini Universitas Negeri Medan
Khafi Puddin Universitas Negeri Medan

DOI: https://doi.org/10.38156/imka.v5i2.649

Keywords: Implementation, Risk Management

Abstract

Every business activity is inseparable from various business risks. Good risk management can control these business risks and thus reduce losses in some businesses. This study aims to analyze the implementation of risk management at Padang Raya Restaurant in Medan City through four stages of risk management consisting of identifying risks, analyzing risks, creating risk control strategies, and evaluating risk control strategies. This study is a qualitative study and data was collected through interviews with the owner of Padang Raya Restaurant (Mr. Sidik Utami). The results showed that there were operational risks consisting of unpredictable customer numbers and labor shortages, the risk of rising food raw material prices, and the risk of business competition in Padang Raya Restaurant. The business owner has created various risk control strategies that are useful for avoiding and mitigating risks. Based on the evaluation results, it shows that these control strategies have been running effectively. This can be proven through indicators of business success, namely annual profit receipts and expansion plans by opening Padang Raya Restaurant branches in different locations in Medan City.

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