How to Maximize Business Planning Using Risk Management A Case Study: Veenaturals

Abstract

Veenaturals is a business engaged in beauty, especially products used in the lip area. To survive as a newcomer to the beauty industry, Veenaturals must be able to adjust quickly to be much better than its competitors. However, business is not possible without obstacles.
In its running, Veenaturals will face a lot of risks that will interfere, both internally and externally. That may happen, because the dynamic of business in the field of beauty runs very quickly. Risk management is based on the Risk Management Process Framework in accordance with the actual circumstances of Veenaturals.
Methodology used is through interviews with internal stakeholders to identify risks that come from the internal. Internal parties involved include all departments in Veenaturals. Then from an external point of life, the parties involved are both Veenaturals or similar beauty products. Based on the results of the risk analysis, identified from this study consists of 43 internal and 31 external risks. Based on this risk analysis, Veenaturals will assess its strategy and plan for risk mitigation for the future benefit of the company.

Keywords: Risk; Risk Management Process, External Risk; Internal Risk.