Risk Management of Grocery Businesses in the Tegal Region Using an ISO 31000-Based Approach

Management of Grocery Businesses in the Tegal Region Using an ISO 31000-Based Approach

Abstract

Abstract
Objective: This study aims to analyze various risks faced by grocery businesses in the Tegal area using an
ISO 31000-based risk management approach.
Design/Methods/Approach: The research method used was descriptive quantitative, involving 50 MSME
grocery business actors in the Tegal area who were selected using purposive sampling techniques. Data was
collected through questionnaires using a Likert scale and analyzed through the stages of identification,
analysis, evaluation, and risk management in accordance with the ISO 31000 standard.
Findings: The results of the study show that six major risks are in the high category, namely the emergence
of competitors, customer decline, theft, changes in government regulations, and price fluctuations. Four
other risks are in the moderate category, namely recording errors, damaged or expired goods, stock
shortages, and disaster risks. Risk management is largely at a high level of efficiency, although some risks
are still at a moderate level and still require mitigation reinforcement.
Originality/Value: This study provides added value through the application of ISO 31000 to small and
medium-sized grocery businesses, a context that has not been widely studied. This study presents a more
structured risk mapping, thereby enriching the literature on risk management in small-scale retail
businesses.
Practical/Policy implication: The application of ISO 31000 helps grocery businesses determine risk
priorities, improve risk management effectiveness, and increase business operational resilience to
business environment uncertainties.

Keywords: ISO 31000, Risk Management, MSMEs, Grocery Businesses