ANALISIS RISIKO KORPORAT PADA PERUSAHAAN PENGEMBANG PROPERTI RESIDENSIAL (STUDI KASUS: PT ABC)

Evangelica Solagratia Swandevi, Gumilang Aryo Sahadewo, M.A., Ph.D.

2026 | Tesis | S2 MANAJEMEN (MM) JAKARTA

Penelitian ini bertujuan untuk mengidentifikasi risiko korporat yang dihadapi PT ABC sebagai perusahaan pengembang properti residensial, menganalisis implikasi risiko tersebut terhadap manajemen strategik perusahaan, serta menelaah kebutuhan penguatan Enterprise Risk Management (ERM) dalam proses pengambilan keputusan strategis. Penelitian menggunakan pendekatan kualitatif dengan desain studi kasus. Data primer diperoleh melalui wawancara semi-terstruktur terhadap sembilan narasumber yang terdiri atas Direksi dan Kepala Divisi di PT ABC, sedangkan data sekunder diperoleh melalui studi pustaka dan dokumen pendukung perusahaan. Analisis data dilakukan melalui penyusunan taksonomi risiko dengan pendekatan qualitative evidence synthesis yang mengombinasikan thematic analysis dan framework synthesis, serta dilanjutkan dengan penilaian risiko berdasarkan impact, likelihood, dan pemeringkatan risiko korporat.

Hasil penelitian menunjukkan bahwa PT ABC menghadapi sepuluh taksonomi risiko korporat, yaitu risiko strategis, operasional, hukum, regulasi dan kepatuhan, lingkungan, pasar dan makroekonomi, reputasi, finansial dan likuiditas, teknologi, politik, serta sosiokultural. Di antara keseluruhan risiko tersebut, risiko strategis, operasional, serta hukum, regulasi dan kepatuhan merupakan risiko dengan prioritas tertinggi. Penelitian ini juga menemukan bahwa risiko korporat memiliki implikasi signifikan terhadap perumusan strategi, penetapan prioritas bisnis, dan implementasi strategi perusahaan. Meskipun pertimbangan risiko telah hadir dalam pengambilan keputusan strategis, integrasinya masih cenderung implisit dan belum sepenuhnya terstruktur dalam kerangka ERM yang formal. Oleh karena itu, penguatan penerapan ERM menjadi penting agar perusahaan mampu mengelola risiko secara lebih terintegrasi, adaptif, dan selaras dengan tujuan strategisnya.

This study aims to identify the corporate risks faced by PT ABC as a residential property developer, analyze the implications of those risks for the company’s strategic management, and examine the need to strengthen Enterprise Risk Management (ERM) in strategic decision-making processes. The research employs a qualitative approach with a case study design. Primary data were collected through semi-structured interviews with nine informants consisting of directors and division heads at PT ABC, while secondary data were obtained from literature review and supporting company documents. Data analysis was conducted by developing a risk taxonomy through a qualitative evidence synthesis approach combining thematic analysis and framework synthesis, followed by risk assessment based on impact, likelihood, and corporate risk prioritization.

The findings show that PT ABC faces ten corporate risk taxonomies, namely strategic, operational, legal-regulatory-compliance, environmental, market and macroeconomic, reputational, financial and liquidity, technological, political, and sociocultural risks. Among these, strategic, operational, and legal-regulatory-compliance risks emerge as the highest-priority risks. The study also finds that corporate risks have significant implications for strategy formulation, business priority setting, and strategy implementation. Although risk considerations have been present in strategic decision-making, their integration remains largely implicit and has not yet been fully institutionalized within a formal ERM framework. Therefore, strengthening ERM implementation is essential to enable the company to manage risks in a more integrated, adaptive, and strategy-aligned manner.

Kata Kunci : risiko korporat, manajemen strategik, manajemen risiko, kerangka Enterprise Risk Management (ERM)