Global risk concerns spurred a debate regarding empowering an organization's risk management system. Risk assessment, management, and planning are vital for running a firm, but they are not universal. This research investigates how operational risk management is institutionalized in an organization and reveals best practices from a Malaysian government-linked enterprise (GLC). This phenomenological study interviewed 39 risk management officers, executives, and employees. Data are thematically analyzed. Burawoy's Social Theory uses a case study to integrate micro- and macro-organizational elements. The case company's risk management officers, executives, and employees are involved in seven processual factors, according to the analysis. Strong leadership and external consultants, setting up the apparatus and assigning the task to the person in charge, risk framework, risk diagnostic, monitor and measure, developing and nurturing risk management culture, and consistent risk management enforcement and monitoring could explain the institutionalization process of risk management in the organization. Global and local entities have institutionalized risk management. This phenomenological study helps comprehend the role of risk management institutionalization in corporate risk management. This study contributes to a practical implication such as to the GLC. It suggests that top management support and a standard risk framework are necessary for risk management homogeneity. Leaders and frameworks must address organizational processes and capabilities to ensure risk management consistency. This study contributes to the literature on risk management practices in developing nations. The paper concludes with limitations and research recommendations.
Businesses are becoming more conscious of operational risk management practices due to the COVID-19 pandemic. However, some firms practice risk management without fully comprehending how it might help them and their needs. As a result, companies that practice risk management without realizing it are being controlled by the discipline itself. The goal of this study is to look into the epistemic process of risk management practice in the workplace. This phenomenological study interviewed 39 risk management officers, executives, and employees. Data are thematically analyzed. This study discovered five epistemic processes of risk mapping using Foucault's governmentality paradigm. This phenomenological study, interestingly, revealed the black box of risk management practices, as well as the behavior of risk management officers, executives, and risk owners who preferred to monitor the compliance aspects of risk management practices rather than comprehend the capabilities of risk management that could be used within their strategic planning process. Unaware of this black box, organizational actors were blanketed by the organization's culture of fear, which created the impression that the authority was always watching every word said and every action taken. Practically, this study contributes an improved understanding of the real function of risk management that helps them justify the practice and reduce unnecessary fear. The paper concludes with limitations and research recommendations.
The expansion of E-wallet service providers in Indonesia is quite encouraging. In its report, Bank of Indonesia indicated that 48 E-wallet services are lawful. This is consistent with the number of E-wallet transactions, where USD 1.5 billion were recorded in 2018 and this number is expected to increase in 2023. This statistic increases the researcher's motivation to investigate E-wallet acceptability in Indonesia. The intention to use e-wallets among Indonesian adults must be studied in order to comprehend adoption factors, identify user preferences, inform marketing strategies, promote financial inclusion, and inform policy and regulatory decisions. This cross-sectional quantitative study conducted in Indonesia aimed to examine the factors influencing the formation of an intention to use electronic wallets (E-Wallets). It focused on perceived ease of use, perceived trust, perceived risk, perceived usefulness, social influence, compatibility, facilitating conditions, and perception of new technology. While previous studies have explored factors influencing users' intention to adopt electronic wallets, few have explicitly focused on mediating factors in the Indonesian context. This study fills this gap by investigating the mediating factors that affect Indonesian users' intention to adopt electronic wallets. It enhances the understanding of the direct factors influencing users' intention and sheds light on the complex relationships of other factors (mediators) that explain the underlying dynamics of this phenomenon. The study analyzed data from 384 valid participants using partial least squares and structural equation modeling with Smart PLS 4.0. The findings revealed that e-wallet facilitating conditions, perceived usefulness, perceived trust, compatibility, perception of risk, and perception of new technology positively and significantly influenced users' intention to use e-wallets in Indonesia. However, social influence and ease of use did not have a positive impact on e-wallet adoption intention among the Indonesian sample. The implications of this study suggest that e-wallet providers should prioritize balancing ease of use and security in their systems. If an e-wallet system is perceived as too easy to use, it may raise concerns about safety and unauthorized access, negatively affecting users' intention to adopt electronic wallets. Therefore, e-wallet providers should ensure user-friendly systems that address security concerns. Future research should explore other factors related to e-wallet adoption and assess their long-term effects on users' intention to use and adopt e-wallets. Despite its limitations, this study provides valuable insights for e-wallet providers, policymakers, and researchers in understanding electronic wallet adoption in Indonesia. It offers guidance for developing effective strategies and interventions to promote widespread adoption and use of electronic wallets.