Risk is a combination of various scientific disciplines. Risk in managing a company cannot only use one or two scientific disciplines.
According to audit practitioner Ria Anugriani, many companies experience failure in managing their business risks. For example, She highlighted the importance of restructuring and consolidation by forming a holding company that manages several companies according to the characteristics and needs of the business sector. For example, unifying two different business sectors, such as aviation and tourism, could be a wise step to exploit synergies between related industries.
Ria conveyed this when taking the Corporate Risk Management course in the Master of Business Administration class, SBM ITB (MBA ITB), on Friday (16/2).
In the context of risk management, Ria believed that it is essential to have a deep understanding of control design because it is part of risk mitigation activities. Risk cannot be eliminated but minimized by evaluating and designing appropriate controls. Failure to carefully assess risks can have a negative impact on a company’s reputation and lead to significant financial losses.
According to Ria, complex business transactions and operations often contain loopholes that have the potential to be detrimental. Therefore, it is necessary to consider approaches to technical and non-technical aspects of risk management. Risk classification and implementation of effective controls are keys to reducing potential losses. Ria advised students to understand these principles well and apply them in the world of work later.
