Risk Management as a Strategy to Strengthen Company Competitiveness in the Digital Era
Keywords:
Risk Management, Competitiveness, Digital Transformation, Digital Risk, Business StrategyAbstract
The development of digital technology has significantly changed the business environment, creating both new opportunities and risks for companies. Digital transformation encourages companies to increase efficiency, expand markets, accelerate decision-making processes, and improve the quality of customer service. However, on the other hand, the use of digital technology also gives rise to various risks, such as cybersecurity, data leaks, system disruptions, market uncertainty, and increasingly rapid changes in consumer behavior. This article aims to analyze the role of risk management as a strategy in strengthening corporate competitiveness in the digital era. The method used is a literature study by reviewing various relevant scientific sources on risk management, digital transformation, and corporate competitiveness. The results of the study indicate that the implementation of effective risk management can help companies identify, analyze, evaluate, and control various risks that arise from changes in the business environment. Risk management not only functions as a corporate protection mechanism but can also be a source of competitive advantage by increasing organizational resilience, decision-making effectiveness, innovation, operational efficiency, and customer trust. Therefore, companies need to integrate risk management into their business strategies and digital transformation processes to be able to face uncertainty and maintain sustainable competitiveness.
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