Track: Undergraduate Student Paper Competition

Abstract

The study focused on different risks encountered within an automation company such as business, reputational, and market risks. The study also included mitigation strategies applied by the organization to counter these identified risks. The risks encountered by the company were assessed by the researchers using in-depth interviews, and documented observations to get an overview of the overall risk management practices of the company. To collate the data needed in conducting the study, the researchers performed qualitative research methods, particularly in-depth interviews to three employees coming from different departments. Documented observations within the company premises were also included. The data were analyzed through thematic analysis. Literature suggests that this technique is the most appropriate method for identifying patterns and themes. Through thematic analysis, the data collected was sorted out into different themes to identify the type of risks that belongs to the same cluster. Similar approach was used to identify the risk mitigation techniques applied by the company. Results suggest that in business risks, employee retention, internal relationship within the organization, the pandemic, and numerous rivals in the industry were the most prevailing risk. Among the identified reputational risks were: bad feedback from exiting employees; fake resume skills; and not meeting the project deadlines. Further, the identified competition or market risks were: employee pirating; having a too common business model; and the high capability of the competitors.