Risk Capability Building Post Covid-19 Through Improving Competency in Risk Management: A Case Study of a Pioneer Bus Rapid Transit Company in Indonesia

Abstract

The purpose of this study is to understand how a pioneer Bus Rapid Transit (BRT) company in Indonesia strengthens its business resilience when facing uncertainty due to the COVID-19 pandemic.  A qualitative approach through distributing questionnaires followed by in-depth interviews and focused group discussion has helped discover that the pioneer BRT company is not fully prepared for the COVID-19 pandemic.  The company then decided to strengthen risk management capabilities by increasing risk management competencies that support decision-making in responding to the impact of the COVID-19 pandemic.  Risk leaders of the company believe that strengthening risk capabilities can boost the company's resilience in the face of the COVID-19 pandemic and succeeding in the new-normal era later. However, it is recommended that the company apply a business continuity plan/management (BCP/M) as a systematic and comprehensive approach to be more effective in dealing with future resilience and business continuity risks.