Quality and Management Systems
Open access
Peer reviewed
Abstract
Abstract
Purworejo Regency, Indonesia, has more than 54,000 micro, small, and medium enterprises (MSMEs). Local institutions, including the MSME Forum and cooperatives, support MSME development, yet many MSMEs manage uncertainty informally without systematic planning or risk documentation. This study assesses Enterprise Risk Management (ERM) implementation based on the International Organization for Standardization (ISO) 31000:2018 and identifies risk-treatment priorities. A sequential explanatory mixed-methods design was used. Quantitative assessment of 125 active MSMEs registered with the Purworejo Regency MSME Forum used a likelihood-impact matrix, followed by qualitative interviews, observations, discussions, and document review. Twelve risks were identified across financial, operational, human-resource, and strategic categories. Three strategic risks received scores of 25 (Very High): D1 (lack of a business plan), D2 (lack of a business development plan), and D3 (lack of business strategy). D4 (lack of risk mitigation) scored 15 (High), while limited capital (A1) and decreased production (B3) scored 12 (Moderate). The findings prioritize strategic planning, managerial capability, risk documentation, stakeholder consultation, and periodic monitoring to support MSME resilience and sustainability
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@article{Irawati2026Implementing,
title = {Implementing ISO 31000:2018 for Enterprise Risk Management in MSMEs: Evidence from Purworejo Regency, Indonesia},
author = {Dwi Irawati and Hesti Respatiningsih and Susi Widjajani},
journal = {International Journal of Accounting & Finance in Asia Pasific},
year = {2026},
doi = {10.32535/ijafap.v9i3.5098},
url = {https://doi.org/10.32535/ijafap.v9i3.5098}
}FAQ
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