Jawablah pertanyaan dibawah ini, dan dikumpulkan (hard copy) paling lambat hari kamis, tgl 4 November 2010 jam 15.00 wib pada sektretariat.
1. Jelaskan apa definisi dari Value At Risk?
2. Jelaskan apa manfaat Value At Risk?
3. Jelaskan apa hubungan antara Risk Management dengan Business Strategy?
4. Bagaimana cara mengidentifikasi, mengukur dan memitigasi dari risiko pasar?
5. Bagaimana cara mengidentifikasi, mengukur dan memitigasi dari risiko kredit?
6. Bagaimana cara mengidentifikasi, mengukur dan memitigasi dari risiko Operasional?
7. Bagaimana cara mengidentifikasi, mengukur dan memitigasi dari risiko likuiditas?
*Jumlah halaman lebih banyak lebih baik
Senin, 01 November 2010
Jumat, 29 Oktober 2010
SOAL UJIAN TENGAH SEMESTER MANAJEMEN RISIKO (KELAS MALAM, FE UNSADA)
Jawablah pertanyaan dibawah ini, dan dikumpulkan (hard copy) paling lambat hari Senin, tgl 1 November 2010 jam 20.00 wib pada sektretariat.
1. Jelaskan apa definisi dari Manajemen Risiko?
2. Jelaskan apa manfaat manajemen risiko?
3. Jelaskan apa usaha untuk meredam konflik antara pemilik saham dengan manajer perusahaan?
4. Bagaimana cara mengidentifikasi, mengukur dan memitigasi dari risiko pasar?
5. Bagaimana cara mengidentifikasi, mengukur dan memitigasi dari risiko kredit?
6. Bagaimana cara mengidentifikasi, mengukur dan memitigasi dari risiko Operasional?
7. Bagaimana cara mengidentifikasi, mengukur dan memitigasi dari risiko likuiditas?
*Jumlah halaman lebih banyak lebih baik
1. Jelaskan apa definisi dari Manajemen Risiko?
2. Jelaskan apa manfaat manajemen risiko?
3. Jelaskan apa usaha untuk meredam konflik antara pemilik saham dengan manajer perusahaan?
4. Bagaimana cara mengidentifikasi, mengukur dan memitigasi dari risiko pasar?
5. Bagaimana cara mengidentifikasi, mengukur dan memitigasi dari risiko kredit?
6. Bagaimana cara mengidentifikasi, mengukur dan memitigasi dari risiko Operasional?
7. Bagaimana cara mengidentifikasi, mengukur dan memitigasi dari risiko likuiditas?
*Jumlah halaman lebih banyak lebih baik
Selasa, 05 Oktober 2010
Jepang Terapkan Suku Bunga 0%
Jepang Terapkan Suku Bunga 0%
Nurul Qomariyah - detikFinance
Foto: Reuters
Tokyo - Bank Sentral Jepang (Bank of Japan/BoJ) secara mengejutkan menurunkan suku bunga kuncinya ke kisaran 0% hingga 0,1%. Langkah yang cukup mengejutkan ini ditujukan untuk membangkitkan lagi perekonomian Jepang yang sedang lesu.
Ini merupakan perubahan suku bunga pertama yang dilakukan Jepang sejak Desember 2008. Sejak waktu itu, Jepang menerapkan suku bunga di kisaran 0,1%.
Rapat BoJ juga memutuskan untuk mempertahankan suku bunga rendah 0% hingga 0,1% itu hingga harga-harga mulai menunjukkan kestabilannya.
Keputusan itu diambil oleh anggota Dewan Gubernur BoJ secara bulat, seperti dikutip dari AFP, Selasa (5/10/2010).
BoJ juga memutuskan untuk membuat kebijakan sementara yakni menyediakan dana hingga 5 triliun yen (US$ 60 miliar) untuk membeli aset-aset yang cukup bervariasi dari obligasi pemerintah, surat berharga negara berjangka pendek, surat-surat berharga komersil dan korporasi.
BoJ juga akan menerima 30 triliun yen dari aset-aset itu sebagai kolateral di bawah skema utang.
Keputusan itu langsung membuat bursa Jepang melonjak tajam. Indeks Nikkei-225 sempat menguat hingga 129,37 poin (1,38%) ke level 9.510,43.
"Ini adalah langkah mengejutkan yang positif," ujar Masumi Yamamoto, analis dari Daiwa Securities Capital Markets.
"Langkah-langkah tersebut lebih agresif dari yang diharapkan pasar. Keputusan BoJ mengejutkan dan akan memiliki dampak pada mata uang berkaitan dengan pesan yang disampaikan," jelas Naomi Hasegawa, analis dari Mitsubishi UFJ Morgan Stanley Securities seperti dikutip dari Reuters.
Langkah mengejutkan dari BoJ itu juga langsung membuat yen melemah atas dolar AS dan menaikkan imbal hasil obligasi pemerintah. Dolar AS tercatat langsung menguat tajam ke posisi 83,99 yen sebelum akhirnya surut ke 83,85 yen.
Pemerintah Jepang sebelumnya sempat mengkhawatirkan penguatan yen yang tajam atas dolar AS, dan dianggap bisa melemahkan perekonomian Jepang mengingat negara tersebut sangat tergantung pada ekspor. (qom/dnl)
sumber: http://www.detikfinance.com/read/2010/10/05/135512/1456023/5/jepang-terapkan-suku-bunga-0?f9911023 (Tgl. 5-10-2010)
Nurul Qomariyah - detikFinance
Foto: Reuters
Tokyo - Bank Sentral Jepang (Bank of Japan/BoJ) secara mengejutkan menurunkan suku bunga kuncinya ke kisaran 0% hingga 0,1%. Langkah yang cukup mengejutkan ini ditujukan untuk membangkitkan lagi perekonomian Jepang yang sedang lesu.
Ini merupakan perubahan suku bunga pertama yang dilakukan Jepang sejak Desember 2008. Sejak waktu itu, Jepang menerapkan suku bunga di kisaran 0,1%.
Rapat BoJ juga memutuskan untuk mempertahankan suku bunga rendah 0% hingga 0,1% itu hingga harga-harga mulai menunjukkan kestabilannya.
Keputusan itu diambil oleh anggota Dewan Gubernur BoJ secara bulat, seperti dikutip dari AFP, Selasa (5/10/2010).
BoJ juga memutuskan untuk membuat kebijakan sementara yakni menyediakan dana hingga 5 triliun yen (US$ 60 miliar) untuk membeli aset-aset yang cukup bervariasi dari obligasi pemerintah, surat berharga negara berjangka pendek, surat-surat berharga komersil dan korporasi.
BoJ juga akan menerima 30 triliun yen dari aset-aset itu sebagai kolateral di bawah skema utang.
Keputusan itu langsung membuat bursa Jepang melonjak tajam. Indeks Nikkei-225 sempat menguat hingga 129,37 poin (1,38%) ke level 9.510,43.
"Ini adalah langkah mengejutkan yang positif," ujar Masumi Yamamoto, analis dari Daiwa Securities Capital Markets.
"Langkah-langkah tersebut lebih agresif dari yang diharapkan pasar. Keputusan BoJ mengejutkan dan akan memiliki dampak pada mata uang berkaitan dengan pesan yang disampaikan," jelas Naomi Hasegawa, analis dari Mitsubishi UFJ Morgan Stanley Securities seperti dikutip dari Reuters.
Langkah mengejutkan dari BoJ itu juga langsung membuat yen melemah atas dolar AS dan menaikkan imbal hasil obligasi pemerintah. Dolar AS tercatat langsung menguat tajam ke posisi 83,99 yen sebelum akhirnya surut ke 83,85 yen.
Pemerintah Jepang sebelumnya sempat mengkhawatirkan penguatan yen yang tajam atas dolar AS, dan dianggap bisa melemahkan perekonomian Jepang mengingat negara tersebut sangat tergantung pada ekspor. (qom/dnl)
sumber: http://www.detikfinance.com/read/2010/10/05/135512/1456023/5/jepang-terapkan-suku-bunga-0?f9911023 (Tgl. 5-10-2010)
Selasa, 21 September 2010
Pengumuman Penting (UNSADA)
Untuk mahasiswa unsada, mata kuliah manajemen risiko kelas selasa jam 14.00 dgn ini diberitahukan bahwa perubahan jadwal di batalkan, sehingga kuliah tetap hari selasa jam 14.00 sampai selesai. Demikian harap di fahami. Terimakasih
Senin, 20 September 2010
Pahami Jenis-jenis Risiko dalam Usaha untuk Melindungi Kekayaan Anda
Dalam dunia usaha konvensional, para pelaku usaha berdagang berdasarkan insting, berdasarkan value/nilai-nilai yang berlaku umum seperti jujur, kerja kereas, mengejar omzet penjualan yang tinggi, semua hal di handle sendiri tanpa ada process delegasi kepada karyawan, sampai lupa libur, lupa waktu makan dll.
Dalam kondisi dunia saat ini, sebagagian value itu mulai susah diterapkan bila sebagai pengusaha menginginkan usahanya bertambah besar dan maju, kalau tetap segala-galanya ingin dihandle sendiri berdasarkan insting yang dimiliki.
Sudah waktunya bila seorang pengusaha/direktur/pengambil keputusan dalam suatu organisasi menginginkan perusahaannya baik pada saat ini, besok dan masa yang akan datang, rasanya perlu memahami beberapa jenis resiko dalam dunia usaha saat ini. Dengan adanya pemahaman ini, diharapkan dapat memberikan suatu pencerahan mengenai resiko yang dihadapi dari suatu keputusan/kebijakan/strategi usaha yang diambil.
Jenis-jenis resiko yang dikenal saat ini:
1. Market Risk / Resiko Pasar
Resiko yang timbul karena suatu perubahan dalam pasar secara makro dimana kita sebagai pelakunya tidak dapat membendung.
Contohnya, kalau anda sebagai pengusaha minyak sayur dan anda baru membeli dalam jumlah banyak ke dalam gudang anda untuk stock. Tiba-tiba terjadi penurunan harga pasar karena adanya adanya over supply dalam pasar dari supplier lain. Kejadian ini tentunya akan merugikan anda, karena stock anda itu dibeli dengan harga yang lebih tinggi dari harga jual saat ini.
Untuk itu anda perlu memahami kondisi pasar yang berpotensi terhadap usaha yang anda jalankan.
2. Resiko Kredit
Bila anda dalam usaha memberikan penjualan secara kredit, tentunya anda memiliki resiko untuk tidak dibayar setelah barang dikirim. Orangnya bisa kabur, bangkrut, meninggal dunia dll. Karenanya anda perlu melakukan analisa terhadao debitur anda, bagaimana kinerja perusahaan itu, bagaimana karakter pemiliknya, kemampuannya untuk membayar dll. Setelah dianalisa, anda perlu menentukan :
-Berapa batas utang yang dapat diberikan misalnya maksimum utang Rp.200 juta
-Berapa lama maksimum kredit diberikan misalnya maksimum 3 minggu dari tanggal pengiriman.
Bila dalam 1 minggu total kreditnya telah mencapai Rp.200 juta, maka permintaan pengiriman barang tidak akan dilayani lagi atau bila total utangnya Cuma Rp.50 juta tapi telah melewati 3 minggu masih belum dibayar, maka permintaan barang tetap tidak akan dikirim.
3. Resiko Operasional
Ini adlaah resiko yang berhubungan dengan proces, orang yang mengerjakannya, system yang digunakan dalam perusahaan, kondisi kantor dll. Perlu dianalisa bagaimana process produksinya, process pembelian bahan bakunya. Apakah processnya sudah efisien, apakah ada process QC yang baik untuk menghindari produk cacat. Apakah orang yang diperkerjakan memenuhi kualifikasi, bila tidak qualified, ada resiko orang itu melakukan kesalahan yang dapat merugikan perusahaan. Apakah ada konsentrasi risk terhadap orang tertentu. Bila orang itu tidak ada, maka perusahaan tidak bisa beroperasi. Apakah sistem komputer sudah baik dan tidak mudah terserang virus yang dapat merusak seluruh sistem dalam perusahaan dll.
4. Resiko Likuiditas
Ini berhubugan dengan pengaturan likuiditas.keuangan dalam perusahaan. Apakah anda mengolah likuiditas dengan baik Jangan sampai memberikan hutang yang lebih lama dari kewajiban anda untuk membayar kepada supplier anda, kalau anda tidak memberikan cadangan keuangan yang cukup
5. Resiko Legal / Hukum
Resiko yang timbul karena tuntuan dari pihak lain karena adanya pelanggaran hukum contoh pelanggaran hak cipta, ingkar janji dalam suatu kontrak dll. Karenanya perlu memahami dengan baik sebelum suatu kontrak yang ditanda tangani.
6. Resiko Strategi
Resiko yang berhubungan dengan strategi yang diambil. Ini sangat berhubungan dengan opportunitu cost dalam usaha dan kesinambungan usaha dimasa akan datang. Contoh Keputusan untuk melakukan strategi usaha utnuk pindah dari suatu negara ke negara lain, keputusan untuk merger dengan perusahaan sejenis untuk menghadapi kompetitor lain dll.
7. Resiko Compliance / Kepatuhan
Resiko yang timbul karena tidak dapat memenuhi ketentuan-ketentuan/peraturan-peratusan Negara/daerah setempat. Seperti pelanggaran Hamdal, pelanggaran UMR, pelanggaran pajak. Pelanggaran terhadap peraturan yang berlaku akan dapat mengakibatkan perusahaan di cabut ijin, maka terpaksa perusahaan tidak dapat beroperasi lagi
8. Resiko Reputasi
Resiko ini tidak berhubungan dengan kerugian material secara langsung, tapi cenderung kepada reputasi/citra perusahaan yang telah dibangun cukup lama. Sehingga pelanggan merasa tidak simpatik/bangga dalam menggunakan produk yang anda produksi/jual. Akibatnya produk anda tidak laku lagi.
Dalam prakteknya anda tidak perlu secara ketat menganalisa dan menerapkan resiko-resiko diatas sehingga mengakibatkan boomerang bagi kinerja usaha anda. Tapi jadikan pemahaman resiko-resiko ini untuk menunjang setiap keputusan yang diambil (Irwan Santoso). (http://www.wealthindonesia.com/index.php?option=com_content&task=view&id=347) Tgl 21-09-2010
Dalam kondisi dunia saat ini, sebagagian value itu mulai susah diterapkan bila sebagai pengusaha menginginkan usahanya bertambah besar dan maju, kalau tetap segala-galanya ingin dihandle sendiri berdasarkan insting yang dimiliki.
Sudah waktunya bila seorang pengusaha/direktur/pengambil keputusan dalam suatu organisasi menginginkan perusahaannya baik pada saat ini, besok dan masa yang akan datang, rasanya perlu memahami beberapa jenis resiko dalam dunia usaha saat ini. Dengan adanya pemahaman ini, diharapkan dapat memberikan suatu pencerahan mengenai resiko yang dihadapi dari suatu keputusan/kebijakan/strategi usaha yang diambil.
Jenis-jenis resiko yang dikenal saat ini:
1. Market Risk / Resiko Pasar
Resiko yang timbul karena suatu perubahan dalam pasar secara makro dimana kita sebagai pelakunya tidak dapat membendung.
Contohnya, kalau anda sebagai pengusaha minyak sayur dan anda baru membeli dalam jumlah banyak ke dalam gudang anda untuk stock. Tiba-tiba terjadi penurunan harga pasar karena adanya adanya over supply dalam pasar dari supplier lain. Kejadian ini tentunya akan merugikan anda, karena stock anda itu dibeli dengan harga yang lebih tinggi dari harga jual saat ini.
Untuk itu anda perlu memahami kondisi pasar yang berpotensi terhadap usaha yang anda jalankan.
2. Resiko Kredit
Bila anda dalam usaha memberikan penjualan secara kredit, tentunya anda memiliki resiko untuk tidak dibayar setelah barang dikirim. Orangnya bisa kabur, bangkrut, meninggal dunia dll. Karenanya anda perlu melakukan analisa terhadao debitur anda, bagaimana kinerja perusahaan itu, bagaimana karakter pemiliknya, kemampuannya untuk membayar dll. Setelah dianalisa, anda perlu menentukan :
-Berapa batas utang yang dapat diberikan misalnya maksimum utang Rp.200 juta
-Berapa lama maksimum kredit diberikan misalnya maksimum 3 minggu dari tanggal pengiriman.
Bila dalam 1 minggu total kreditnya telah mencapai Rp.200 juta, maka permintaan pengiriman barang tidak akan dilayani lagi atau bila total utangnya Cuma Rp.50 juta tapi telah melewati 3 minggu masih belum dibayar, maka permintaan barang tetap tidak akan dikirim.
3. Resiko Operasional
Ini adlaah resiko yang berhubungan dengan proces, orang yang mengerjakannya, system yang digunakan dalam perusahaan, kondisi kantor dll. Perlu dianalisa bagaimana process produksinya, process pembelian bahan bakunya. Apakah processnya sudah efisien, apakah ada process QC yang baik untuk menghindari produk cacat. Apakah orang yang diperkerjakan memenuhi kualifikasi, bila tidak qualified, ada resiko orang itu melakukan kesalahan yang dapat merugikan perusahaan. Apakah ada konsentrasi risk terhadap orang tertentu. Bila orang itu tidak ada, maka perusahaan tidak bisa beroperasi. Apakah sistem komputer sudah baik dan tidak mudah terserang virus yang dapat merusak seluruh sistem dalam perusahaan dll.
4. Resiko Likuiditas
Ini berhubugan dengan pengaturan likuiditas.keuangan dalam perusahaan. Apakah anda mengolah likuiditas dengan baik Jangan sampai memberikan hutang yang lebih lama dari kewajiban anda untuk membayar kepada supplier anda, kalau anda tidak memberikan cadangan keuangan yang cukup
5. Resiko Legal / Hukum
Resiko yang timbul karena tuntuan dari pihak lain karena adanya pelanggaran hukum contoh pelanggaran hak cipta, ingkar janji dalam suatu kontrak dll. Karenanya perlu memahami dengan baik sebelum suatu kontrak yang ditanda tangani.
6. Resiko Strategi
Resiko yang berhubungan dengan strategi yang diambil. Ini sangat berhubungan dengan opportunitu cost dalam usaha dan kesinambungan usaha dimasa akan datang. Contoh Keputusan untuk melakukan strategi usaha utnuk pindah dari suatu negara ke negara lain, keputusan untuk merger dengan perusahaan sejenis untuk menghadapi kompetitor lain dll.
7. Resiko Compliance / Kepatuhan
Resiko yang timbul karena tidak dapat memenuhi ketentuan-ketentuan/peraturan-peratusan Negara/daerah setempat. Seperti pelanggaran Hamdal, pelanggaran UMR, pelanggaran pajak. Pelanggaran terhadap peraturan yang berlaku akan dapat mengakibatkan perusahaan di cabut ijin, maka terpaksa perusahaan tidak dapat beroperasi lagi
8. Resiko Reputasi
Resiko ini tidak berhubungan dengan kerugian material secara langsung, tapi cenderung kepada reputasi/citra perusahaan yang telah dibangun cukup lama. Sehingga pelanggan merasa tidak simpatik/bangga dalam menggunakan produk yang anda produksi/jual. Akibatnya produk anda tidak laku lagi.
Dalam prakteknya anda tidak perlu secara ketat menganalisa dan menerapkan resiko-resiko diatas sehingga mengakibatkan boomerang bagi kinerja usaha anda. Tapi jadikan pemahaman resiko-resiko ini untuk menunjang setiap keputusan yang diambil (Irwan Santoso). (http://www.wealthindonesia.com/index.php?option=com_content&task=view&id=347) Tgl 21-09-2010
Jenis Risiko Pada Industri
Dari pengalaman, saya akan mencoba menuliskan beberapa risiko yang dihadapi oleh berbagai jenis usaha
I. Usaha Jasa
1. Jasa konstruksi
Yang harus mendapat perhatian: a) Sponsor (owner) proyek dan sumber dana. b) Perjanjian/kontrak tertulis (SPP/SPK).c) Pengalaman dalam menyelesaikan pekerjaan, apa yang pernah, sedang dan akan dikerjakan. Pengalaman dalam menyelesaikan proyek, sangat menentukan kemampuan pelaksana proyek dan akan mendapatkan kepercayaan dari si pemberi proyek. d)Tenaga ahli. Artinya jangan melaksanakan proyek jika tak mempunyai tenaga ahli dibidang proyek yang akan dikerjakan.e) Sertifikat kualifikasi yang dimiliki.f) Schedule penyelesaian proyek. Jika proyek terlambat akan menyebabkan biaya yang meningkat diluar yang direncanakan. g) Asuransi proyek (contractor all risk) .h) Kedudukan pelaksana proyek sebagai main atau sub kontraktor
2. Jasa Perhotelan
Yang harus mendapat perhatian: a) Occupancy rate (berapa rata-rata kamar yang terpakai dibanding dengan kamar yang tersedia). b) Sales Coefficient (berapa rata-rata pendapatan di luar kamar dibanding dengan pendapatan atas penjualan kamar). c) Struktur pendapatan dan biaya yang wajar dari suatu hotel. d) Rata-rata Gross Operating (GOP) yang wajar bervariasi, yang umum berkisar antara 30-40% dari total pendapatan (paling besar biaya penyusutan). e).Biaya pemasaran hotel, umumnya berkisar antara 3-5 % dari total pendapatan. f) Hotel dibedakan antara hotel bisnis, resort, butik dan lain-lain. g). Ada/tidak dukungan dari Chain hotel. h) Pengaruh travel agent. i) Jenis wisatawan/tamu hotel yang menjadi target pasar.
Jenis wisatawan bisa dibedakan:
* Free Individual Traveller (FIT): a) Bebas bepergian sendiri tanpa diatur travel.b) Bebas memilih obyek wisata.c) Masa tinggal tidak terbatas.
* Group Individual Traveller (GIT): a) Segala keperluan diatur travel.b) Masa tinggal dan akomodasi tertentu.
* Tour Series. Datang sesuai jadual/periode travel.
* Convention. Termasuk meeting, training session, conference dll
* Package . a) Kelompok wisata.b) Pada saat low session.c) Murah
3. Jasa Pengangkutan
Yang perlu diperhatikan: a) Sistem pembayaran.b) Jumlah armada, kondisi, kapasitas, ijin trayek.c) Penyediaan bahan bakar.d) Sarana pemeliharaan dan penunjang lainnya (bengkel, pool kendaraan). e). Biaya pemeliharaan dan operasi kendaraan. f). Hubungan keterikatan perusahaan dengan agen-agen perjalanan dan ekspedisi. g). Kebijakan khusus yang mengatur usaha jasa angkutan, misalnya: scraping, peremajaan, pengadaan armada dsb nya. h) Organisasi-organisasi di bidang Jasa angkutan.
4. Jasa Pendidikan
Yang perlu mendapat perhatian: a) Strata pendidikan (TK,SD,SMP, SMU, PT dll). b) Predikat Lembaga Pendidikan tsb dimata masyarakat (favorit/tidak favorit, akreditasi). c). Kuantitas dan kualitas lulusan. d) Jumlah mahasiswa, dosen, ratio dosen terhadap mahasiswa. e) Kelengkapan dan kualitas sarana/prasarana penunjang proses belajar mengajar. f). Kuantitas dan kualitas pengajar g). Kapasitas dan kondisi fisik bangunan. h). Struktur/siklus penerimaan dan pengeluaran.i). Kebijakan pemerintah di bidang pendidikan. j). Kemampuan manajemen/pengurus/pendiri Yayasan.
II. Usaha Perdagangan
1. Supermarket/Departemen Store
Yang perlu mendapat perhatian: a) Produk yang dijual tak seluruhnya milik perusahaan, sering terdapat barang konsinyasi. b) Ruang toko tak seluruhnya digunakan oleh perusahaan tsb, melainkan disewakan untuk barang-barang, antara lain: kosmetik, jam, perhiasan. c). Perputaran usaha relatif cepat, karena hampir seluruhnya tunai, penjualan kredit umumnya untuk pembayaran dengan kartu kredit. d). Produk dipengaruhi oleh mode. Untuk supermarket terdapat barang dagangan yang tidak tahan lama. e) Modal kerja sebagian besar dipenuhi oleh pemasok dengan memberi keringanan pembayaran, melalui pembayaran cek atau Bank Garansi.
2. Perdagangan mobil
Faktor yang perlu mendapat perhatian: a). Proteksi pemerintah dan peraturan impor. b). Lokasi show room dan sarana penunjang yang lengkap, seperti: bengkel dan spare part (3 S: sales, service and spare part). c). Jaringan distribusi dan kualitas after sales service. d). Tersedianya fasilitas kredit dari perbankan atau Lembaga keuangan bagi pembeli. e). Brand Royalty. Konsumen mobil cenderung fanatik terhadap merk tertentu. f). Resale Value. Konsumen mempertimbangkan nilai penjualan kembali mobil yang telah dibeli.
III. Usaha industri
1. Industri tekstil
Faktor yang harus diperhatikan: a) Bahan baku, seperti kapas untuk benang dan bahan pembantu berupa bahan-bahan kimia masih diimpor. b). Kualitas mein-mesin produksi, apakah teknologi mesin tersebut dapat bersaing di pasar internasional. c). Tenaga ahli, khususnya dalam proses pencelupan dan finishing diperlukan orang yang profesional. d). Lokasi pabrik dan kualitas unit pengolahlimbah. Industri tekstil menghasilkan limbah cukup banyak dan dapat mencemarkan lingkungan. e). Pemasaran dan kuota, jika produk sebagian besar untuk memenuhi pasar luar negeri. Kuota yang ditetapkan negara importir merupakan kendala bagi ekspor produk ini.
2. Industri garmen
Faktor yang perlu mendapat perhatian: a) Produksi. Produk untuk pasar dalam negeri atau ekspor. Untuk produk ekspor, sebagian besar bahan baku masih diimpor. b) Pemasaran dan kuota. Apabila sebagian besar untuk memenuhi pasar luar negeri, akan dibatasi oleh kuota, di samping itu kualitas prduksi dan desain sangat menentukan. c). Kemampuan memenuhi jadual pengiriman barang sesuai permintaan buyer, menentukan kontinyuitas pemasaran ekspornya. d). Kendala yang dihadapi pasar lokal: pasar sudah jenuh, dan piutang dagang melebihi kewajaran.
3. Industri plastik
Faktor yang perlu mendapat perhatian: a) Produksi. Bahan baku seperti polyprophylene, poly stryrene, poly ethylene, PVC, PET (untuk botol aqua) sebagian besar masih diimpor. b). Produk plastik sebagian dipasarkan di dalam negeri sehingga persaingan ketat. Pemasaran ekspor terbatas pada beberapa produk, seperti: karung plastik, kantong sampah dan jenis-jenis consumer goods
4. Industri sepatu
Faktor yang perlu mendapat perhatian: a) Produksi. Mesin yang digunakan masih diimpor dengan harga relatif mahal sehingga biaya investasi dalam industri ini cukup tinggi. Proses produksi sering terjadi bottle neck antara sewing machine dengan mesin produksi lain, sehingga kurang efisien. Tenaga ahli untuk desain dan finishing masih kurang, sehingga berpengaruh terhadap kualitas produk yang dihasilkan. b). Pemasaran. Pemasaran ekspor sepatu dikuasai Trading House luar negeri. Pemasaran dalam negeri persaingan sangat ketat.
5. Industri obat/farmasi
Faktor yang perlu mendapat perhatian: a) Produksi. Perputaran persediaan bahan baku, barang setengah jadi dan barang jadi, cukup mempengaruhi kualitas barang. Semakin lama perputaran persediaan, mutu produk semakin berkurang. Time of delivery sangat menentukan keberhasilan pemasaran produk. Proses produksi dituntut memenuhi syarat kebersihan dan kesehatan. Pembungkus (packing) mempengaruhi kualitas dan penampilan produk makanan agar diterima pasar. b). Legalitas. Ijin/pendaftaran dari Ditjen POM. Apakah pembungkus/produk telah mendapatkan no reg dari Depkes . c). Pemasaran. Segmen pasar yang dituju dan bagaimana tingkat persaingannya.
6. Industri woodworking/moulding
Faktor yang perlu mendapat perhatian: a) Bahan baku. Kontinyuitas penyediaan bahan baku dipengaruhi oleh status kepemilikan dan jenis bahan baku. Apakah pemasok bahan baku memiliki HPH atau tidak. Jenis bahan baku, apakah termasuk yang dilarang atau tidak. b). Penggunaan tenaga ahli diperlukan, karena industri ini bersifat semi labour intensive. Perusahaan yang baru berdiri perlu waktu lama untuk mendidik tenaga kerja siap trampil. c). Kebijakan pemerintah. Ijin industri plywood, sawmill, dan blackboard telah ditutup. Larangan ekspor kayu log, sawn timber dan basic moulding, serta pembatasan pengelolaan hutan. d). Ancaman dari gerakan anti kayu tropis, dengan maksud untuk melestarikan lingkungan, akan berpengaruh terhadap pangsa pasar ekspor produk kayu tropis dari Indonesia.
(http://edratna.wordpress.com/2007/04/20/risiko-yang-dihadapi-berbagai-jenis-usaha/)21-09-2010
I. Usaha Jasa
1. Jasa konstruksi
Yang harus mendapat perhatian: a) Sponsor (owner) proyek dan sumber dana. b) Perjanjian/kontrak tertulis (SPP/SPK).c) Pengalaman dalam menyelesaikan pekerjaan, apa yang pernah, sedang dan akan dikerjakan. Pengalaman dalam menyelesaikan proyek, sangat menentukan kemampuan pelaksana proyek dan akan mendapatkan kepercayaan dari si pemberi proyek. d)Tenaga ahli. Artinya jangan melaksanakan proyek jika tak mempunyai tenaga ahli dibidang proyek yang akan dikerjakan.e) Sertifikat kualifikasi yang dimiliki.f) Schedule penyelesaian proyek. Jika proyek terlambat akan menyebabkan biaya yang meningkat diluar yang direncanakan. g) Asuransi proyek (contractor all risk) .h) Kedudukan pelaksana proyek sebagai main atau sub kontraktor
2. Jasa Perhotelan
Yang harus mendapat perhatian: a) Occupancy rate (berapa rata-rata kamar yang terpakai dibanding dengan kamar yang tersedia). b) Sales Coefficient (berapa rata-rata pendapatan di luar kamar dibanding dengan pendapatan atas penjualan kamar). c) Struktur pendapatan dan biaya yang wajar dari suatu hotel. d) Rata-rata Gross Operating (GOP) yang wajar bervariasi, yang umum berkisar antara 30-40% dari total pendapatan (paling besar biaya penyusutan). e).Biaya pemasaran hotel, umumnya berkisar antara 3-5 % dari total pendapatan. f) Hotel dibedakan antara hotel bisnis, resort, butik dan lain-lain. g). Ada/tidak dukungan dari Chain hotel. h) Pengaruh travel agent. i) Jenis wisatawan/tamu hotel yang menjadi target pasar.
Jenis wisatawan bisa dibedakan:
* Free Individual Traveller (FIT): a) Bebas bepergian sendiri tanpa diatur travel.b) Bebas memilih obyek wisata.c) Masa tinggal tidak terbatas.
* Group Individual Traveller (GIT): a) Segala keperluan diatur travel.b) Masa tinggal dan akomodasi tertentu.
* Tour Series. Datang sesuai jadual/periode travel.
* Convention. Termasuk meeting, training session, conference dll
* Package . a) Kelompok wisata.b) Pada saat low session.c) Murah
3. Jasa Pengangkutan
Yang perlu diperhatikan: a) Sistem pembayaran.b) Jumlah armada, kondisi, kapasitas, ijin trayek.c) Penyediaan bahan bakar.d) Sarana pemeliharaan dan penunjang lainnya (bengkel, pool kendaraan). e). Biaya pemeliharaan dan operasi kendaraan. f). Hubungan keterikatan perusahaan dengan agen-agen perjalanan dan ekspedisi. g). Kebijakan khusus yang mengatur usaha jasa angkutan, misalnya: scraping, peremajaan, pengadaan armada dsb nya. h) Organisasi-organisasi di bidang Jasa angkutan.
4. Jasa Pendidikan
Yang perlu mendapat perhatian: a) Strata pendidikan (TK,SD,SMP, SMU, PT dll). b) Predikat Lembaga Pendidikan tsb dimata masyarakat (favorit/tidak favorit, akreditasi). c). Kuantitas dan kualitas lulusan. d) Jumlah mahasiswa, dosen, ratio dosen terhadap mahasiswa. e) Kelengkapan dan kualitas sarana/prasarana penunjang proses belajar mengajar. f). Kuantitas dan kualitas pengajar g). Kapasitas dan kondisi fisik bangunan. h). Struktur/siklus penerimaan dan pengeluaran.i). Kebijakan pemerintah di bidang pendidikan. j). Kemampuan manajemen/pengurus/pendiri Yayasan.
II. Usaha Perdagangan
1. Supermarket/Departemen Store
Yang perlu mendapat perhatian: a) Produk yang dijual tak seluruhnya milik perusahaan, sering terdapat barang konsinyasi. b) Ruang toko tak seluruhnya digunakan oleh perusahaan tsb, melainkan disewakan untuk barang-barang, antara lain: kosmetik, jam, perhiasan. c). Perputaran usaha relatif cepat, karena hampir seluruhnya tunai, penjualan kredit umumnya untuk pembayaran dengan kartu kredit. d). Produk dipengaruhi oleh mode. Untuk supermarket terdapat barang dagangan yang tidak tahan lama. e) Modal kerja sebagian besar dipenuhi oleh pemasok dengan memberi keringanan pembayaran, melalui pembayaran cek atau Bank Garansi.
2. Perdagangan mobil
Faktor yang perlu mendapat perhatian: a). Proteksi pemerintah dan peraturan impor. b). Lokasi show room dan sarana penunjang yang lengkap, seperti: bengkel dan spare part (3 S: sales, service and spare part). c). Jaringan distribusi dan kualitas after sales service. d). Tersedianya fasilitas kredit dari perbankan atau Lembaga keuangan bagi pembeli. e). Brand Royalty. Konsumen mobil cenderung fanatik terhadap merk tertentu. f). Resale Value. Konsumen mempertimbangkan nilai penjualan kembali mobil yang telah dibeli.
III. Usaha industri
1. Industri tekstil
Faktor yang harus diperhatikan: a) Bahan baku, seperti kapas untuk benang dan bahan pembantu berupa bahan-bahan kimia masih diimpor. b). Kualitas mein-mesin produksi, apakah teknologi mesin tersebut dapat bersaing di pasar internasional. c). Tenaga ahli, khususnya dalam proses pencelupan dan finishing diperlukan orang yang profesional. d). Lokasi pabrik dan kualitas unit pengolahlimbah. Industri tekstil menghasilkan limbah cukup banyak dan dapat mencemarkan lingkungan. e). Pemasaran dan kuota, jika produk sebagian besar untuk memenuhi pasar luar negeri. Kuota yang ditetapkan negara importir merupakan kendala bagi ekspor produk ini.
2. Industri garmen
Faktor yang perlu mendapat perhatian: a) Produksi. Produk untuk pasar dalam negeri atau ekspor. Untuk produk ekspor, sebagian besar bahan baku masih diimpor. b) Pemasaran dan kuota. Apabila sebagian besar untuk memenuhi pasar luar negeri, akan dibatasi oleh kuota, di samping itu kualitas prduksi dan desain sangat menentukan. c). Kemampuan memenuhi jadual pengiriman barang sesuai permintaan buyer, menentukan kontinyuitas pemasaran ekspornya. d). Kendala yang dihadapi pasar lokal: pasar sudah jenuh, dan piutang dagang melebihi kewajaran.
3. Industri plastik
Faktor yang perlu mendapat perhatian: a) Produksi. Bahan baku seperti polyprophylene, poly stryrene, poly ethylene, PVC, PET (untuk botol aqua) sebagian besar masih diimpor. b). Produk plastik sebagian dipasarkan di dalam negeri sehingga persaingan ketat. Pemasaran ekspor terbatas pada beberapa produk, seperti: karung plastik, kantong sampah dan jenis-jenis consumer goods
4. Industri sepatu
Faktor yang perlu mendapat perhatian: a) Produksi. Mesin yang digunakan masih diimpor dengan harga relatif mahal sehingga biaya investasi dalam industri ini cukup tinggi. Proses produksi sering terjadi bottle neck antara sewing machine dengan mesin produksi lain, sehingga kurang efisien. Tenaga ahli untuk desain dan finishing masih kurang, sehingga berpengaruh terhadap kualitas produk yang dihasilkan. b). Pemasaran. Pemasaran ekspor sepatu dikuasai Trading House luar negeri. Pemasaran dalam negeri persaingan sangat ketat.
5. Industri obat/farmasi
Faktor yang perlu mendapat perhatian: a) Produksi. Perputaran persediaan bahan baku, barang setengah jadi dan barang jadi, cukup mempengaruhi kualitas barang. Semakin lama perputaran persediaan, mutu produk semakin berkurang. Time of delivery sangat menentukan keberhasilan pemasaran produk. Proses produksi dituntut memenuhi syarat kebersihan dan kesehatan. Pembungkus (packing) mempengaruhi kualitas dan penampilan produk makanan agar diterima pasar. b). Legalitas. Ijin/pendaftaran dari Ditjen POM. Apakah pembungkus/produk telah mendapatkan no reg dari Depkes . c). Pemasaran. Segmen pasar yang dituju dan bagaimana tingkat persaingannya.
6. Industri woodworking/moulding
Faktor yang perlu mendapat perhatian: a) Bahan baku. Kontinyuitas penyediaan bahan baku dipengaruhi oleh status kepemilikan dan jenis bahan baku. Apakah pemasok bahan baku memiliki HPH atau tidak. Jenis bahan baku, apakah termasuk yang dilarang atau tidak. b). Penggunaan tenaga ahli diperlukan, karena industri ini bersifat semi labour intensive. Perusahaan yang baru berdiri perlu waktu lama untuk mendidik tenaga kerja siap trampil. c). Kebijakan pemerintah. Ijin industri plywood, sawmill, dan blackboard telah ditutup. Larangan ekspor kayu log, sawn timber dan basic moulding, serta pembatasan pengelolaan hutan. d). Ancaman dari gerakan anti kayu tropis, dengan maksud untuk melestarikan lingkungan, akan berpengaruh terhadap pangsa pasar ekspor produk kayu tropis dari Indonesia.
(http://edratna.wordpress.com/2007/04/20/risiko-yang-dihadapi-berbagai-jenis-usaha/)21-09-2010
SAP Manajemen Risiko
1. Introduction/Penjelasan SAP
2. Jenis risiko
3. Jenis Distribusi
4. Indentifikasi Risiko
5. Mengukur Risiko
6. Mitigasi Risiko
7. Ujian Tengah Semester
8. Risiko Pasar
9. Risiko Kredit
10. Risiko Operasional
11. Risiko Likuiditas
12. Risk Profile
13. Ujian Akhir Semester
2. Jenis risiko
3. Jenis Distribusi
4. Indentifikasi Risiko
5. Mengukur Risiko
6. Mitigasi Risiko
7. Ujian Tengah Semester
8. Risiko Pasar
9. Risiko Kredit
10. Risiko Operasional
11. Risiko Likuiditas
12. Risk Profile
13. Ujian Akhir Semester
Minggu, 29 Agustus 2010
Mitigating the Risks of Doing Business in Indonesia (RM)
In an increasingly competitive environment, multinational companies continue to expand and move into new and unfamiliar territories, either to take advantage of lower operating costs, a cheaper workforce, access to untapped natural resources or what is perceived as a potentially large market. In their haste to take advantage of these ‘attractions’, companies often fail to carry out the necessary due-diligence and research to identify the potential risks and pitfalls associated with such a venture.
Indonesia, like many other developing countries, aside from presenting attractive opportunities also presents a variety of potential risks to which investors may be exposed and vulnerable. These risks range from six years of political and economic turmoil, a history of civil unrest, religious conflict and the threat posed by Islamic extremist groups, socio-economic issues and the resulting effect of increased unemployment, which is estimated now to be as high as 40% of a population of 220 million and as a result rising crime. This is in addition to having to work within an environment which for the unprepared can not only be costly, but also challenging in terms of:
• A poor regulatory environment and lack of transparency;
• An ineffective and corrupt legal system; and
• An increasingly militant labour force, with manpower laws heavily in favour of the workforce.
Security and Risk Management Strategy
Organisations seeking to enter and do business in Indonesia need to mitigate these risks by putting in place a well planned risk management strategy to ensure from the outset that they have carried out not only an assessment of the risks, but are also well positioned to manage any situation that may present a threat to their assets be it people, proprietary information, property or reputation. Such a strategy needs to have a number of elements in place, including but not limited to the following:
• A clear directive and security policy driven by Executive Management at headquarters level.
• A defined and enhanced security budget than would otherwise be assigned to most new start-ups.
• A dedicated Security Manager, to manage and coordinate security needs. If not available, this can be contracted to third parties with the relevant experience, local knowledge, capability and local presence.
• A Crisis Management Team (CMT) comprising key department heads, trained in their respective roles and responsibilities.
• A Crisis Management Center (CMC) strategically located and suitably equipped from which the CMT can operate.
• Crisis Management and Emergency Response Plans. These plans will guide the CMT through any incident to enable them to effectively and efficiently respond, so that normal operations can resume in a timely manner, whilst minimising costs and damage to reputation.
• Standard Security Operating Procedures for managing routine security duties, undertaken by both in-house and/or contracted parties.
Protection of Assets
Personnel
Human Resources have to be a key asset within most organizations and as such need to be protected. In order to obtain a maximum return from one’s employees, it is necessary to create an environment whereby they can focus on the business issues, without having to concern themselves with security related issues. To this end the organization needs to implement a programme that provides the necessary reassurance the company is looking after their interests and well being, including that of their dependants.
To this end and in order to minimize the risk to employees, be they expatriate or local nationals, a personnel security programme needs to be established and a number of pro-active procedures and measures need to be implemented or made available, including but not limited to the following:
• Identification of appropriate and secure accommodations, which may entail a survey of possible apartments and then independent security audits of the specific residence. It is also recommended to have domestic staff trained in security awareness techniques from information security to how to respond to an incident.
• Security Awareness Briefings, be it for expatriates newly arrived in country, existing employees, both nationals and expatriates, and at all levels from domestic staff and drivers to senior executives.
• Access to daily risk reports so that all those in country have an ongoing understanding and awareness of the relevant issues, which may have a security implication.
• For those traveling executives who may feel threatened or who are not familiar with the local environment to have an ability to call upon a reliable resource to provide vehicles with trained security drivers and low profile security officers to meet and greet upon arrival and escort them whilst in-country.
• There may be occasions where as a result of an internal dispute or incident, key corporate personnel may be ‘targeted’ and as such feel threatened. It is essential that at this time they be provided with the appropriate support and reassurance that their well-being is being addressed.
Information Security
Information, be it propriety or otherwise, will often have a value and as such is in need of protection or at least kept on a ‘need-to-know’ basis. In a competitive market with a limited number of firms competing closely for the same projects, relationships at all levels are developed and as such can lead to information being compromised, usually in return for some pecuniary advantage. Typical examples may be a clerk passing on verbal or written proprietary information to an external party. With most information now in digital format, it may involve the unauthorized access into, deletion or removal of information from the organisation’s computer and data systems.
In most cases of computer assisted fraud, or computer intrusion, companies are left with seemingly scant evidence from which to understand the depth of the problem. Where were they vulnerable? Will it happen again? What was seen or taken? Who should they trust? Computer crime has the same effect as many other crimes. It leaves a feeling of violation and suspicion in many corners. Organisations need to be able to focus employee activities on facts not rumors. Whether the need is to understand the depth of a crime, or the perpetrator, specialist skills are required. Few organisations have these skills readily to hand, and often destroy valuable clues by “having a go”.
Computer Security and Forensic Services
Ensuring that the company’s computer systems and data networks have the necessary software and protection measures in place and as and when something appears to be amiss using Computer Forensics to provide the what, where and if possible, the who of a computer infiltration, be it from internal, or external sources. If the intention is to prosecute, this is a way to gather relevant evidence but with the limited legal system in Indonesia, it may be that prosecution is not an option, in which case the service could provide enough confirmation for an investigation to continue in a certain direction or evidence obtained to have an employee removed from their position.
Protection of Property
Indonesia has in the past years experienced an ongoing number of bombings, which have occurred in Government facilities including, Police Headquarters, Parliament buildings and Jakarta’s Soekarno Hatta Airport, as well as Commercial Facilities such as the Jakarta Stock Exchange, Marriott Hotel and others.
Companies involved in the storage, distribution or manufacturing of product are also faced with ongoing theft of product from their facilities. In some cases, particularly where the company may experience labour related disputes, the threat may then arise in the form of criminal damage, sabotage or arson.
Dissatisfied employees or managers with a more entrepreneurial approach may undertake to compete with their existing employer and decide to set up or support a parallel operation and as such steal or divert raw materials or compete through producing an imitation or counterfeit product.
As a result of this threat and potential loss of physical assets as a result, it is necessary to ensure that the company has the necessary insurance coverage, including from terrorist related attacks, but also to carry out site-specific threat assessments at the locations where the company intends to establish its presence. In this way the organisation can put in place appropriate physical and procedural security measures that are commensurate with the threat in order to deter, detect and defend itself against such threats or in the case of terrorism at least present a ‘harder target’.
Reputation, Social Accountability and Compliance
From a business standpoint and where a company wishes to protect its reputation rather than its physical assets, its brand rather than its stock, and its integrity rather than its office building, Indonesia presents numerous concerns that need to be considered and addressed in any effort to achieve good Corporate Governance. These include, but are not limited to:
• Lack of transparency, corporate governance
• Poor regulatory environment
• Widespread corruption
• Overvalued assets
• Organized crime, money laundering, counterfeiting, trafficking (humans, drugs, arms)
• Conflicts of interest
• Fraud
• Theft of proprietary information
• Industrial disputes
All this is in an era where organizations have legal obligations to their employees and stakeholders with potentially serious ramifications against non-compliance. There is therefore a need to enforce and instill within any company a work ethic that adheres to the principles of ‘good corporate governance’. As discussed with the Indonesian legal system and limited ability to take either civil or criminal action, it is often left to companies to not only impart this need upon its employees but to also enforce it and with the recently introduced manpower laws this can often backfire against the employer.
In light of the above, it is therefore necessary for the Company to take all practicable preventative measures to ensure that it meets internationally accepted standards, prevents such risks from being realized. To do this there is a need to carry out one’s due diligence on potential employees and business partners as well as third party contractors,
Employment Screening
Whether to hire a particular employee is one of the most critical business decisions a company makes. Recruiting new staff members based on personal recommendations and appearance is not enough. Experience has taught many major corporations that objective and comprehensive screening of candidates prior to employment might have helped to avoid the following problems, among others:
• Conflicts of interest
• Corporate espionage
• Theft of proprietary information
• Contravention of corporate compliance issues
• Corporate fraud
Employment screening services are an essential process to safeguard a corporation from hiring persons who are either unqualified or of questionable integrity. This is particularly so in Indonesia where there is a history of job placement through nepotism, and a thriving business in ‘priced qualifications’.
It is recommended to screen both existing and new employees at all levels. The extent and level of screening is determined by the nature of the position to be filled. Even the lowest level of employee might have access to proprietary information and processes that are critical to the efficient running of the company. Companies should also consider screening personnel being either relocated to or promoted into areas where they will have additional responsibilities.
The overall objective of employment screening is to protect a company against hiring personnel who attempt to either exaggerate or make false claims about their qualifications, work experience and personal background, or withhold information about these aspects that would be relevant to employment.
Specifically, the process should seek to:
• Identify inconsistencies, fabrications, omissions or exaggerations in a candidate’s résumé
• Confirm a candidate’s previous working experience and highlight any character weaknesses
• Reveal any previously recorded occasions of misconduct, which could embarrass the employer and potentially damage its credibility or image.
Due Diligence
The future problems that will result from the choice of an unsuitable business partner should not be underestimated. Profiling the background, standing, ownership and reputation of prospective business partners is an essential first stage in the due diligence process, not only in terms of identifying actual and potential shortcomings, but also as an integral element of any good corporate governance programme. Conducting prompt and thorough due diligence is vital for ensuring that a compliance program is efficient and effective.
Due diligence is recommended at two consecutive levels, with allowance made for use of specialist investigative techniques after due consultation for further focused enquiries if required.
The lowest level check should provide a basic check on the company or individual concerned through information available in the public domain, utilizing database resources wherever possible. In some countries, where information is not readily available from a database, a more labor-intensive search may be required. A basic check can be used as a preliminary review or to focus subsequent enquiries. This alone may not verify whether the company actually exists in anything other than name only.
A more thorough level of check greatly expands enquiries to provide not only tangible proof that the entity exists, but can also give an accurate appraisal in terms of reputation, business and financial status.
Vendor Auditing
As in many Asian countries, irregularities in purchasing and other fraudulent insider schemes are common in Indonesia. The choice and monitoring of a relationship with a vendor is important to reduce the risks involved.
The overall aim and objective of the vendor auditing programme, or the screening of contractors, is to ensure complete transparency in the supply chain, that is to:
• Ensure suppliers are legitimate and ethical and are not merely 'middle-men’
• Remove the possibility of 'bogus' companies being established and potential conflicts of interest
• Prevent collusion between a company’s employees and vendors resulting in corrupt practices
• Demonstrate the Company’s commitment to mitigating and eliminating fraud within the supply chain, particularly within the procurement function
The difficulty in implementing an effective vendor-auditing program is that the people who may be defrauding your company can be the very same people entrusted with the checking in the first place. The use of an outside service provider removes this risk.
Specialist Investigation Services
The findings of an initial due diligence may indicate the need for a more focused or specialist investigation, in which case an investigation can be tailored to meet the specific needs identified.
It is noteworthy that Indonesia presents some specific challenges when conducting due diligence on a company or individual. Records in Indonesia are poor. Few records are required to be kept, and those that are oftentimes are incomplete or unreliable. In most instances records are not centrally held, and are rarely computerized. This means that local expertise and a fair amount of legwork is required to conduct such checks in Indonesia.
Social Accountability Auditing
From sweatshops and child labor to environmental damage and unsafe working conditions, subcontractors of large multinational corporations have the ability to do immense damage to the reputations, and bottom lines, of the companies who contract them. Some of the world's most valuable brands have been severely damaged by the negative publicity and subsequent consumer activism, resulting from the unethical practices of these subcontractors.
A Social Accountability Programme is a strategic holistic approach to all of the issues that face a company who entrust their operations to contractors in Asia. Indonesia has a large manufacturing base in many different business lines with factories often located in remote places. Those that feel least under scrutiny are the ones that often need the closest monitoring by local, knowledgeable and independentrisk management professionals.
The ultimate aim of any Social Accountability Programme is the protection of corporate reputation from being damaged by the unscrupulous activities of subcontractors and/or vendors. Audits should be carried out to ensure :
• Adherence to local laws & international standards
• Company labor policy standards (compensation, working hours)
• Environmental standards
• Health & safety standards
Such programmes should go beyond initial certification; regular compliance monitoring is an essential feature of any Social Accountability Programme.
Summary and Conclusion
Indonesia remains an attractive country in which to do business in for many. In order to reduce vulnerability to the myriad of risks it presents, companies must take a pro-active approach to security and risk management. Doing so naturally reduces the chances of a company becoming a victim, but also minimizes the likely fallout in the event an incident were to occur. An effective risk prevention and mitigation plan will enable the company to effectively respond, recover and resume normal business operations within the shortest time frame possible so as to minimize the potential business impact either financially or from a reputation standpoint.
Our thanks to Nick Duder, President Director of PT Hill Konsultan Indonesia for his contribution of this article.
Another interesting article on Risk Management - A Sea Change for Risk Managment in Indonesia
(http://www.expat.or.id/business/riskmanagementindonesia.html) 30/8/2010
Indonesia, like many other developing countries, aside from presenting attractive opportunities also presents a variety of potential risks to which investors may be exposed and vulnerable. These risks range from six years of political and economic turmoil, a history of civil unrest, religious conflict and the threat posed by Islamic extremist groups, socio-economic issues and the resulting effect of increased unemployment, which is estimated now to be as high as 40% of a population of 220 million and as a result rising crime. This is in addition to having to work within an environment which for the unprepared can not only be costly, but also challenging in terms of:
• A poor regulatory environment and lack of transparency;
• An ineffective and corrupt legal system; and
• An increasingly militant labour force, with manpower laws heavily in favour of the workforce.
Security and Risk Management Strategy
Organisations seeking to enter and do business in Indonesia need to mitigate these risks by putting in place a well planned risk management strategy to ensure from the outset that they have carried out not only an assessment of the risks, but are also well positioned to manage any situation that may present a threat to their assets be it people, proprietary information, property or reputation. Such a strategy needs to have a number of elements in place, including but not limited to the following:
• A clear directive and security policy driven by Executive Management at headquarters level.
• A defined and enhanced security budget than would otherwise be assigned to most new start-ups.
• A dedicated Security Manager, to manage and coordinate security needs. If not available, this can be contracted to third parties with the relevant experience, local knowledge, capability and local presence.
• A Crisis Management Team (CMT) comprising key department heads, trained in their respective roles and responsibilities.
• A Crisis Management Center (CMC) strategically located and suitably equipped from which the CMT can operate.
• Crisis Management and Emergency Response Plans. These plans will guide the CMT through any incident to enable them to effectively and efficiently respond, so that normal operations can resume in a timely manner, whilst minimising costs and damage to reputation.
• Standard Security Operating Procedures for managing routine security duties, undertaken by both in-house and/or contracted parties.
Protection of Assets
Personnel
Human Resources have to be a key asset within most organizations and as such need to be protected. In order to obtain a maximum return from one’s employees, it is necessary to create an environment whereby they can focus on the business issues, without having to concern themselves with security related issues. To this end the organization needs to implement a programme that provides the necessary reassurance the company is looking after their interests and well being, including that of their dependants.
To this end and in order to minimize the risk to employees, be they expatriate or local nationals, a personnel security programme needs to be established and a number of pro-active procedures and measures need to be implemented or made available, including but not limited to the following:
• Identification of appropriate and secure accommodations, which may entail a survey of possible apartments and then independent security audits of the specific residence. It is also recommended to have domestic staff trained in security awareness techniques from information security to how to respond to an incident.
• Security Awareness Briefings, be it for expatriates newly arrived in country, existing employees, both nationals and expatriates, and at all levels from domestic staff and drivers to senior executives.
• Access to daily risk reports so that all those in country have an ongoing understanding and awareness of the relevant issues, which may have a security implication.
• For those traveling executives who may feel threatened or who are not familiar with the local environment to have an ability to call upon a reliable resource to provide vehicles with trained security drivers and low profile security officers to meet and greet upon arrival and escort them whilst in-country.
• There may be occasions where as a result of an internal dispute or incident, key corporate personnel may be ‘targeted’ and as such feel threatened. It is essential that at this time they be provided with the appropriate support and reassurance that their well-being is being addressed.
Information Security
Information, be it propriety or otherwise, will often have a value and as such is in need of protection or at least kept on a ‘need-to-know’ basis. In a competitive market with a limited number of firms competing closely for the same projects, relationships at all levels are developed and as such can lead to information being compromised, usually in return for some pecuniary advantage. Typical examples may be a clerk passing on verbal or written proprietary information to an external party. With most information now in digital format, it may involve the unauthorized access into, deletion or removal of information from the organisation’s computer and data systems.
In most cases of computer assisted fraud, or computer intrusion, companies are left with seemingly scant evidence from which to understand the depth of the problem. Where were they vulnerable? Will it happen again? What was seen or taken? Who should they trust? Computer crime has the same effect as many other crimes. It leaves a feeling of violation and suspicion in many corners. Organisations need to be able to focus employee activities on facts not rumors. Whether the need is to understand the depth of a crime, or the perpetrator, specialist skills are required. Few organisations have these skills readily to hand, and often destroy valuable clues by “having a go”.
Computer Security and Forensic Services
Ensuring that the company’s computer systems and data networks have the necessary software and protection measures in place and as and when something appears to be amiss using Computer Forensics to provide the what, where and if possible, the who of a computer infiltration, be it from internal, or external sources. If the intention is to prosecute, this is a way to gather relevant evidence but with the limited legal system in Indonesia, it may be that prosecution is not an option, in which case the service could provide enough confirmation for an investigation to continue in a certain direction or evidence obtained to have an employee removed from their position.
Protection of Property
Indonesia has in the past years experienced an ongoing number of bombings, which have occurred in Government facilities including, Police Headquarters, Parliament buildings and Jakarta’s Soekarno Hatta Airport, as well as Commercial Facilities such as the Jakarta Stock Exchange, Marriott Hotel and others.
Companies involved in the storage, distribution or manufacturing of product are also faced with ongoing theft of product from their facilities. In some cases, particularly where the company may experience labour related disputes, the threat may then arise in the form of criminal damage, sabotage or arson.
Dissatisfied employees or managers with a more entrepreneurial approach may undertake to compete with their existing employer and decide to set up or support a parallel operation and as such steal or divert raw materials or compete through producing an imitation or counterfeit product.
As a result of this threat and potential loss of physical assets as a result, it is necessary to ensure that the company has the necessary insurance coverage, including from terrorist related attacks, but also to carry out site-specific threat assessments at the locations where the company intends to establish its presence. In this way the organisation can put in place appropriate physical and procedural security measures that are commensurate with the threat in order to deter, detect and defend itself against such threats or in the case of terrorism at least present a ‘harder target’.
Reputation, Social Accountability and Compliance
From a business standpoint and where a company wishes to protect its reputation rather than its physical assets, its brand rather than its stock, and its integrity rather than its office building, Indonesia presents numerous concerns that need to be considered and addressed in any effort to achieve good Corporate Governance. These include, but are not limited to:
• Lack of transparency, corporate governance
• Poor regulatory environment
• Widespread corruption
• Overvalued assets
• Organized crime, money laundering, counterfeiting, trafficking (humans, drugs, arms)
• Conflicts of interest
• Fraud
• Theft of proprietary information
• Industrial disputes
All this is in an era where organizations have legal obligations to their employees and stakeholders with potentially serious ramifications against non-compliance. There is therefore a need to enforce and instill within any company a work ethic that adheres to the principles of ‘good corporate governance’. As discussed with the Indonesian legal system and limited ability to take either civil or criminal action, it is often left to companies to not only impart this need upon its employees but to also enforce it and with the recently introduced manpower laws this can often backfire against the employer.
In light of the above, it is therefore necessary for the Company to take all practicable preventative measures to ensure that it meets internationally accepted standards, prevents such risks from being realized. To do this there is a need to carry out one’s due diligence on potential employees and business partners as well as third party contractors,
Employment Screening
Whether to hire a particular employee is one of the most critical business decisions a company makes. Recruiting new staff members based on personal recommendations and appearance is not enough. Experience has taught many major corporations that objective and comprehensive screening of candidates prior to employment might have helped to avoid the following problems, among others:
• Conflicts of interest
• Corporate espionage
• Theft of proprietary information
• Contravention of corporate compliance issues
• Corporate fraud
Employment screening services are an essential process to safeguard a corporation from hiring persons who are either unqualified or of questionable integrity. This is particularly so in Indonesia where there is a history of job placement through nepotism, and a thriving business in ‘priced qualifications’.
It is recommended to screen both existing and new employees at all levels. The extent and level of screening is determined by the nature of the position to be filled. Even the lowest level of employee might have access to proprietary information and processes that are critical to the efficient running of the company. Companies should also consider screening personnel being either relocated to or promoted into areas where they will have additional responsibilities.
The overall objective of employment screening is to protect a company against hiring personnel who attempt to either exaggerate or make false claims about their qualifications, work experience and personal background, or withhold information about these aspects that would be relevant to employment.
Specifically, the process should seek to:
• Identify inconsistencies, fabrications, omissions or exaggerations in a candidate’s résumé
• Confirm a candidate’s previous working experience and highlight any character weaknesses
• Reveal any previously recorded occasions of misconduct, which could embarrass the employer and potentially damage its credibility or image.
Due Diligence
The future problems that will result from the choice of an unsuitable business partner should not be underestimated. Profiling the background, standing, ownership and reputation of prospective business partners is an essential first stage in the due diligence process, not only in terms of identifying actual and potential shortcomings, but also as an integral element of any good corporate governance programme. Conducting prompt and thorough due diligence is vital for ensuring that a compliance program is efficient and effective.
Due diligence is recommended at two consecutive levels, with allowance made for use of specialist investigative techniques after due consultation for further focused enquiries if required.
The lowest level check should provide a basic check on the company or individual concerned through information available in the public domain, utilizing database resources wherever possible. In some countries, where information is not readily available from a database, a more labor-intensive search may be required. A basic check can be used as a preliminary review or to focus subsequent enquiries. This alone may not verify whether the company actually exists in anything other than name only.
A more thorough level of check greatly expands enquiries to provide not only tangible proof that the entity exists, but can also give an accurate appraisal in terms of reputation, business and financial status.
Vendor Auditing
As in many Asian countries, irregularities in purchasing and other fraudulent insider schemes are common in Indonesia. The choice and monitoring of a relationship with a vendor is important to reduce the risks involved.
The overall aim and objective of the vendor auditing programme, or the screening of contractors, is to ensure complete transparency in the supply chain, that is to:
• Ensure suppliers are legitimate and ethical and are not merely 'middle-men’
• Remove the possibility of 'bogus' companies being established and potential conflicts of interest
• Prevent collusion between a company’s employees and vendors resulting in corrupt practices
• Demonstrate the Company’s commitment to mitigating and eliminating fraud within the supply chain, particularly within the procurement function
The difficulty in implementing an effective vendor-auditing program is that the people who may be defrauding your company can be the very same people entrusted with the checking in the first place. The use of an outside service provider removes this risk.
Specialist Investigation Services
The findings of an initial due diligence may indicate the need for a more focused or specialist investigation, in which case an investigation can be tailored to meet the specific needs identified.
It is noteworthy that Indonesia presents some specific challenges when conducting due diligence on a company or individual. Records in Indonesia are poor. Few records are required to be kept, and those that are oftentimes are incomplete or unreliable. In most instances records are not centrally held, and are rarely computerized. This means that local expertise and a fair amount of legwork is required to conduct such checks in Indonesia.
Social Accountability Auditing
From sweatshops and child labor to environmental damage and unsafe working conditions, subcontractors of large multinational corporations have the ability to do immense damage to the reputations, and bottom lines, of the companies who contract them. Some of the world's most valuable brands have been severely damaged by the negative publicity and subsequent consumer activism, resulting from the unethical practices of these subcontractors.
A Social Accountability Programme is a strategic holistic approach to all of the issues that face a company who entrust their operations to contractors in Asia. Indonesia has a large manufacturing base in many different business lines with factories often located in remote places. Those that feel least under scrutiny are the ones that often need the closest monitoring by local, knowledgeable and independentrisk management professionals.
The ultimate aim of any Social Accountability Programme is the protection of corporate reputation from being damaged by the unscrupulous activities of subcontractors and/or vendors. Audits should be carried out to ensure :
• Adherence to local laws & international standards
• Company labor policy standards (compensation, working hours)
• Environmental standards
• Health & safety standards
Such programmes should go beyond initial certification; regular compliance monitoring is an essential feature of any Social Accountability Programme.
Summary and Conclusion
Indonesia remains an attractive country in which to do business in for many. In order to reduce vulnerability to the myriad of risks it presents, companies must take a pro-active approach to security and risk management. Doing so naturally reduces the chances of a company becoming a victim, but also minimizes the likely fallout in the event an incident were to occur. An effective risk prevention and mitigation plan will enable the company to effectively respond, recover and resume normal business operations within the shortest time frame possible so as to minimize the potential business impact either financially or from a reputation standpoint.
Our thanks to Nick Duder, President Director of PT Hill Konsultan Indonesia for his contribution of this article.
Another interesting article on Risk Management - A Sea Change for Risk Managment in Indonesia
(http://www.expat.or.id/business/riskmanagementindonesia.html) 30/8/2010
Rabu, 18 Agustus 2010
Financial Management
Financial management entails planning for the future of a person or a business enterprise to ensure a positive cash flow. It includes the administration and maintenance of financial assets. Besides, financial management covers the process of identifying and managing risks.
The primary concern of financial management is the assessment rather than the techniques of financial quantification. A financial manager looks at the available data to judge the performance of enterprises. Managerial finance is an interdisciplinary approach that borrows from both managerial accounting and corporate finance.
Some experts refer to financial management as the science of money management. The primary usage of this term is in the world of financing business activities. However, financial management is important at all levels of human existence because every entity needs to look after its finances.
Financial Management: Levels
Broadly speaking, the process of financial management takes place at two levels. At the individual level, financial management involves tailoring expenses according to the financial resources of an individual. Individuals with surplus cash or access to funding invest their money to make up for the impact of taxation and inflation. Else, they spend it on discretionary items. They need to be able to take the financial decisions that are intended to benefit them in the long run and help them achieve their financial goals.
From an organizational point of view, the process of financial management is associated with financial planning and financial control. Financial planning seeks to quantify various financial resources available and plan the size and timing of expenditures. Financial control refers to monitoring cash flow. Inflow is the amount of money coming into a particular company, while outflow is a record of the expenditure being made by the company. Managing this movement of funds in relation to the budget is essential for a business.
At the corporate level, the main aim of the process of managing finances is to achieve the various goals a company sets at a given point of time. Businesses also seek to generate substantial amounts of profits, following a particular set of financial processes.
Financial managers aim to boost the levels of resources at their disposal. Besides, they control the functioning on money put in by external investors. Providing investors with sufficient amount of returns on their investments is one of the goals that every company tries to achieve. Efficient financial management ensures that this becomes possible.
Strong financial management in the business arena requires managers to be able to:
* Interpret financial reports including income statements, Profits and Loss or P&L, cash flow statements and balance sheet statements
* Improve the allocation of working capital within business operations
* Review and fine tune financial budgeting, and revenue and cost forecasting
* Look at the funding options for business expansion, including both long and short term financing
* Review the financial health of the company or business unit using ratio analyses, such as the gearing ratio,profit per employee and weighted cost of capital
* Understand the various techniques using in project and asset valuations
* Apply critical financial decision making techniques to assess whether to proceed with an investmtn
* Understand valuations frameworks for businesses, portfolios and intangible assets
(http://www.economywatch.com/finance/financial-management.html) 8/19/2010
The primary concern of financial management is the assessment rather than the techniques of financial quantification. A financial manager looks at the available data to judge the performance of enterprises. Managerial finance is an interdisciplinary approach that borrows from both managerial accounting and corporate finance.
Some experts refer to financial management as the science of money management. The primary usage of this term is in the world of financing business activities. However, financial management is important at all levels of human existence because every entity needs to look after its finances.
Financial Management: Levels
Broadly speaking, the process of financial management takes place at two levels. At the individual level, financial management involves tailoring expenses according to the financial resources of an individual. Individuals with surplus cash or access to funding invest their money to make up for the impact of taxation and inflation. Else, they spend it on discretionary items. They need to be able to take the financial decisions that are intended to benefit them in the long run and help them achieve their financial goals.
From an organizational point of view, the process of financial management is associated with financial planning and financial control. Financial planning seeks to quantify various financial resources available and plan the size and timing of expenditures. Financial control refers to monitoring cash flow. Inflow is the amount of money coming into a particular company, while outflow is a record of the expenditure being made by the company. Managing this movement of funds in relation to the budget is essential for a business.
At the corporate level, the main aim of the process of managing finances is to achieve the various goals a company sets at a given point of time. Businesses also seek to generate substantial amounts of profits, following a particular set of financial processes.
Financial managers aim to boost the levels of resources at their disposal. Besides, they control the functioning on money put in by external investors. Providing investors with sufficient amount of returns on their investments is one of the goals that every company tries to achieve. Efficient financial management ensures that this becomes possible.
Strong financial management in the business arena requires managers to be able to:
* Interpret financial reports including income statements, Profits and Loss or P&L, cash flow statements and balance sheet statements
* Improve the allocation of working capital within business operations
* Review and fine tune financial budgeting, and revenue and cost forecasting
* Look at the funding options for business expansion, including both long and short term financing
* Review the financial health of the company or business unit using ratio analyses, such as the gearing ratio,profit per employee and weighted cost of capital
* Understand the various techniques using in project and asset valuations
* Apply critical financial decision making techniques to assess whether to proceed with an investmtn
* Understand valuations frameworks for businesses, portfolios and intangible assets
(http://www.economywatch.com/finance/financial-management.html) 8/19/2010
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