Abstract

Risk management has become a crucial subject especially during COVID-19 pandemic. This is due to, the risk and uncertainty of the business are increases during COVID-19 pandemic. Most of the organization were unprepared when COVID-19 pandemic hits the world. This research paper aims to identify the risk management strategies used by XXX and impact towards XXX financial performance as well as the lesson learnt.

This study focuses for period from March 2020 until March 2022. XXX is selected as a case study in this as XXX is a local conglomerate and one of Malaysia’s public-listed company. XXX is a key player in a few industries such as Automotive, Equipment, Manufacturing & Engineering and Aerospace. Risk management, human resources initiatives and government initiatives are tested in this research, to identify the relationship with organization’s financial performance. The selected sample for this study is amongst 69 existing employees in XXX and its subsidiaries in Malaysia.

Pearson correlation coefficient and spearman correlation analysis are adopted in this study to identify the correlation between the selected variables. Initially, it is expected that those two variables have a positive relationship towards XXX’s financial performance. The result shows that both human resources initiatives and government initiatives have a positive correlation with financial performance. Besides that, this research paper also identified challenges and lesson learnt identified by XXX in managing COVID-19 pandemics. The result also discusses the financial impact of XXX due to COVID-19.

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