Business Risk Management of Gudeg Pawon Yogyakarta

ABSTRACT


INTRODUCTION
The tourism industry is currently experiencing tremendous development around the world, and trends continue to change as technology evolves, lifestyle changes, and market needs post-covid-19 pandemic.The Covid-19 pandemic that occurred had a downward impact on the tourism sector.The existence of the Massive Social Restrictions (PSBB) policy has had a considerable economic impact on the tourism sector.The Central Statistics Agency (BPS) noted that the cumulative number of foreign tourist visits to Indonesia during the January-November 2020 period only reached 3.89 million visits, lower than the same period in the previous year, which was 14.73 million foreign tourists or experienced a sharp decrease of 73.60 percent.There are 10,946 tourism businesses affected and 30,421 tourism workers have lost their jobs.The government through the Ministry of Tourism and Creative Economy (Kemenkarekraf) has taken several policy steps to improve the tourism and creative economy sectors.Increasing exports and digitizing the marketing of creative economy products (Ekraf) is one of the government's steps, so it is expected to restore national tourism (Utami & Kafabih, 2021).The government has also formed a policy, namely a tourism policy to regulate the Business Risk Management of Gudeg Pawon Yogyakarta development of tourism to continue to pay attention to the legal rules and norms that exist in the community around the tourism area, in order to create public order and security for tourists who visit.Government commitment is very important in achieving success in the tourism sector.The government's strong commitment can mobilize its resources so that tourism development can be faster and more optimal.One of the seriousness of the Indonesian government in the development of the tourism sector can be seen by the existence of several laws and regulations that were formed to regulate order in business activities in the tourism sector, one of which is the enactment of Law Number 10 of 2009 concerning Tourism (Lestari & Suharyanti, 2020).
The development of tourism can be seen from Indonesia's foreign exchange receipts from the tourism sector which reached US$4.26 billion in 2022 (Dataindonesia.id, 2022).The increase in the country's foreign exchange in the tourism sector can be seen in the following Source: (Dataindonesia.id, 2022) Travel is no longer just a destination, but also a deep and unforgettable experience for tourists.Technology plays a crucial role in changing the way people plan and enjoy travel.
Travel apps, websites, and social media platforms make it easy for travelers to search for information, book accommodations, and plan activities from afar.The use of technology also provides new opportunities for destinations to promote themselves and attract potential tourists through digital marketing and experiential content.The implementation of digital tourism development is not only an issue but must be realized concretely along with the fulfillment of facilities and infrastructure related to the internet as the main media.The Awareness, Interest, Desire, Decision, Action (AIDDA) model that was developed was then adopted as a prototype in conducting tourism marketing.destinations offered.As a result, tourists are not only presented with natural tourism but also presented with a lot of educational information that is not widely disclosed when traveling independently based on the internet (Aziz, 2022) (Musaddad et al., 2019).The results of research conducted by (Adnyana, 2020) show that green tourism has a great influence on sustainable tourism because the concept of green tourism prioritizes the concept of being friendly with nature and the environment and makes a great contribution to the economy of local communities that have not been economically touched by empowerment by the government.
The city of Yogyakarta is a city in Indonesia that has undeniable tourist attractions.
Located on the island of Java.The city of Yogyakarta is a perfect blend of history, culture, art, and nature, making it one of the most popular tourist destinations in Indonesia.Therefore, the city of Yogyakarta has received a title as a Tourism City.This is stated in the Strategic Plan of  (Triwidayati & Minta, 2020).
Every business has risks, and no business in the world is without risk.Risks in business can occur anytime and anywhere.External and internal environmental conditions continue to evolve in response to increasing risks.The increasingly complex risks faced by the business world require the ability to manage and identify risks, measure, monitor and control.This demands new insights and knowledge for business professionals to manage the risks that occur in any business and analyze the likelihood of those risks occurring over a period of time.The biggest risk impact is loss.Losses that commonly occur include decreased profits, decreased capital, and others (Putri et al., 2023).One of them is the culinary business in Yogyakarta.
Risks that may occur in culinary business businesses include Operational Risk, Market Risk, External Risk, Regulatory Risk, Reputation Risk, Business Risk, and Financial Risk (Sugiarto, E-ISSN : 3047-8669, AND P-ISSN : 3047-8677, PAGE. 24-37 2023).The various risks that occur in the culinary business business, it is necessary to carry out risk management and control so that business businesses can maintain and develop their businesses, especially in today's times.One way to manage and minimize the impact of risk is by implementing risk management.
The results of the observation analysis related to the culinary business still have several shortcomings in doing business, resulting in risks that need to be solved by culinary business actors.Culinary tourism, which is a trend for tourists, makes a significant opportunity for culinary business businesses in Yogyakarta, but also increases competition between other culinary business players.The culinary business that will be used as the object of this research is Gudeg Pawon.Gudeg Pawon is one of the culinary business businesses located in WIB where the hour is the time when people rest (www.goodnewsfromindonesia.id, 2017).
However, with the outbreak of the Covid-19 pandemic, the owner of Gudeg Pawon decided to change the operating hours to 17.30 WIB.The purpose of this study is to identify the risks that occur in the Gudeg Pawon culinary business.There are also risks focused on operational risk, market risk and reputation risk. 2.

RESEARCH METHOD
This study uses qualitative descriptive research.Qualitative research is a research method that discusses the purpose of the research through various techniques that allow researchers to provide interpretations of phenomena of concern without depending on numerical measurements (Ihalauw et al., 2023).The data collection technique uses triangulation through participatory observation, in-depth interviews, and documentation.Furthermore, the sampling technique uses non-propability sampling, which is a sampling technique that does not provide Business Risk Management of Gudeg Pawon Yogyakarta the same opportunity for each element or member of the population to be selected as a sample (Sugiyono, 2016).The sampling technique used is purposive sampling.The interview technique in this study was carried out on the owner of Gudeg Pawon by conducting in-depth questions and answers related to the risks that occurred during running the culinary business, as well as making observations and documentation by visiting the location directly to see the conditions around Gudeg Pawon. 3.

RESULTS AND DISCUSSIONS
Based on the results of the analysis and observations that have been carried out, the following are the Operational Risks found along with the level of risk, affected aspects, and the impact of risks on Gudeg Pawon.Table 1 is the results of the risk management analysis on Gudeg Pawon: Source: Gudeg Pawon Owner The results of the operational risk analysis that have been outlined in Table 1, the first point, which is related to the inconsistent quality of raw materials, can affect the taste and quality of Gudeg Pawon.Raw materials are closely related to the operational process and are the main ingredients in production, so if the raw materials do not have good consistency, it will have an impact on the quality and taste of the product (gudeg).Therefore, this risk is categorized as an operational risk that has a high level of risk.This risk has an impact on the E-ISSN : 3047-8669, AND P-ISSN : 3047-8677, PAGE.24-37 continuity of the production process and products produced by the business and affects the reputation and market reach of Gudeg Pawon.The operational risk mitigation step that can be taken by Gudeg Pawon owners is to establish good relationships with suppliers to ensure consistent quality of raw materials.
Table 1 point 2 related to operational risks to the management of raw material inventory that results in excess or shortage of stock, so that it can lead to waste or inability to meet customer demand is categorized as an operational risk that has a medium level.This risk has an impact on the continuity of the production process and products produced by Gudeg Pawon and affects Gudeg Pawon's finances.In connection with this, risk mitigation can be carried out by Gudeg Pawon owners by implementing an efficient raw material stock management system.
Furthermore, in Table 1 point 3, namely operational risks, food safety and health.Gudeg Pawon as a culinary service business whose products will be enjoyed by consumers, food safety and health are the main things that need to be considered.Safety and health that need to be considered by Gudeg Pawon owners include hygiene and sanitation, both food, tableware and also the environment where to eat.Hygiene and sanitation risks in the food production and storage process need to be considered and maintained.Non-compliance with health standards can cause health problems for customers and adversely affect Gudeg Pawon's business ventures.This risk is categorized at a high level that has an impact on Gudeg's production process that will be presented to customers and the reputation of business continuity.Paying attention to and prioritizing food safety and health is an action that needs to be taken in the Gudeg Pawon culinary service business because it can threaten the health safety of consumers.
As the owner of Gudeg Pawon, it is important to realize that food safety and health are top priorities to ensure consumer satisfaction and safety.Efforts to mitigate risks related to hygiene and sanitation, which have been implemented by the owner of Gudeg Pawon to reduce potential threats to food quality and business reputation, namely washing hands before carrying out the Gudeg production process, washing equipment that will be used, both equipment for the preparation of raw materials to production process equipment, using protective equipment such as aprons and gloves, and maintain personal hygiene.Clean kitchen area, dining area, cooking utensils and cutlery every day.Implement raw material storage by separating dry and wet raw materials by paying attention to the right temperature, such as storing chicken meat in a chiller, storing dry ingredients in a dry and not humid place, storing vegetable ingredients in the refrigerator.This is done to prevent bacterial growth and contamination.Implementing a First In First Out (FIFO) System to ensure that raw materials are used for a longer period of time, so that the quality of materials is maintained.Implementing the purchase of raw materials from Business Risk Management of Gudeg Pawon Yogyakarta suppliers has become a subscription of Gudeg Pawon so that the quality of the raw materials to be used is guaranteed.Gudeg Pawon performs the maintenance of cooking and dining utensils to ensure that the dishes to be used are still in a clean condition, not contemplated and fit for use.
The last operational risk is customer satisfaction.Customer complaints regarding taste, quality, or service can damage a business's reputation.Therefore, maintaining quality consistency and providing good customer service is essential to maintain the sustainability of Gudeg Pawon's business.This risk is categorized at a high level that has an impact on customer satisfaction.Therefore, Gudeg Pawon must maintain the quality of taste, presentation and service well.Consistency of taste and portions is the main indicator that determines Gudeg Pawon's brand image.Considering that Gudeg Pawon has many customers, the implementation of the queuing culture can also provide a separate assessment from customers of Gudeg Pawon so that it can provide fair treatment to customers.stove and firewood, and consumers can also enjoy gudeg directly in Pawon, it is possible that it can be imitated by other culinary business people.This can interfere with the smooth business process of Gudeg Pawon both directly and indirectly.This risk is classified in the medium category because every business will definitely have a concept that is imitated by other business competitors and this is still understandable, but it cannot be considered trivial by the owner of Gudeg Pawon because in the long run it will be able to have an impact on the sustainability of Gudeg Pawon's business itself.This risk affects the process and products of Gudeg Pawon because if the concept imitated by competitors will result in operational processes and customers of Gudeg Pawon can switch to competitors.This risk has an impact on the target market that has been customers of Gudeg Pawon, besides that if not addressed properly, it will result in financial losses for Gudeg Pawon due to a decrease in revenue.The risk mitigation that needs to be done by Gudeg Pawon is to improve product quality and innovation to maintain the uniqueness and attractiveness of Gudeg Pawon, strengthen brand identity through effective marketing and provide good service to customers, collaborate with online platforms and culinary influencers to increase visibility.
Point 2 in Table 2 of the risk that occurred was a change in preferences by consumers.
Consumer preferences can change over time.The existence of new food trends that have emerged lifestyles, and dietary preferences have made it a serious thought for the owner of Gudeg Pawon to be able to retain customers.This risk is classified in the medium category because changes in consumer appetite will definitely occur, especially in the appetite of young people, where young people today prefer places to eat that can also be used as a place to hang out.This is an important concern for Gudeg Pawon owners to be able to maintain the gudeg food culinary business which is in great demand by consumers despite the current changes in consumer preferences.Gudeg Pawon must really be able to control the right market share for the sake of business sustainability, because if this is ignored it will have an impact on the financial factor of Gudeg Pawon itself, so it is possible that Gudeg Pawon will be displaced by a new culinary business venture that provides culinary according to the needs of current consumers.Risk mitigation that needs to be carried out by Gudeg Pawon is to conduct regular market surveys and research to understand changing consumer trends and preferences.
Furthermore, in Table 2 point 3 relates to fluctuations in the number of tourists where environmental conditions cannot be ascertained.The existence of disease outbreaks and natural disasters will result in changes in the economy and market conditions so that it has an impact on fluctuations in the number of tourists.As happened during the Covid-19 pandemic that occurred around the world which had an impact on all business sectors which were none other than culinary business businesses.The existence of the outbreak made the business business to maintain its business, even not a few business ventures could not survive and eventually went out of business.This condition must be a concern for business ventures to be able to make the right decisions.Gudeg Pawon's culinary business was able to overcome the conditions of the covid 19 outbreak, which until now has been able to maintain its business venture.This risk is classified as medium because economic changes change consumer behavior.These fluctuations can have a significant impact on local businesses and the economy as a whole.Entrepreneurs must be prepared to face these challenges with the right strategies.This risk affects consumers in choosing places to eat at affordable prices but still maintaining product quality by paying attention to hygiene and sanitation.The impact that Gudeg Pawon may have with outbreaks and natural disasters is on finance because of a decrease in income.The risk mitigation that needs to be carried out by Gudeg Pawon is to provide a variety of price options to reach various economic groups, maintain operational efficiency to reduce costs and still offer competitive prices, diversify revenue through catering services or cooperation with companies for certain events.
Gudeg Pawon's market risk in Table 2 point 4 is related to the increase in raw material prices that cannot be predicted by Gudeg Pawon's culinary business ventures.The increase in raw prices has a direct impact on Gudeg Pawon's culinary business operations.The owner of Gudeg Pawon must choose between increasing the price of the menu, sacrificing profit margins, without having to reduce the quality of the product.Adjusting menu prices can make customers disappointed and even trigger a decrease in the number of customers.Meanwhile, sacrificing profit margins can threaten business sustainability, while changing gudeg recipes can affect the quality and flavor that has been built over the years.To overcome the risks carried out by Gudeg Pawon owners, it is necessary to take the right steps, including establishing good cooperation with suppliers of raw materials to maintain quality, improving operational efficiency, conducting inventory management to cost control, to compensate for price increases, carrying out creative marketing strategies, such as promo packages or special offers.
With a proactive and creative attitude, Gudeg Pawon's owners can overcome the challenges of rising raw material prices and maintain the sustainability of business ventures that are successful and in demand by customers.
The 5th market risk is a risk related to the reputation of online reviews from social media to Gudeg Pawon.Gudeg Pawon is a culinary icon in Yogyakarta, known for its authentic gudeg flavor and friendly customer service.However, the dangers of social media are not visible that can threaten Gudeg Pawon's reputation, especially negative reviews from customers who are not satisfied with what they get.Negative reviews that appear on social media platforms are an important concern by Gudeg Pawon to maintain the reputation that he has built so far.The impact of these negative reviews is very real.Many loyal customers are starting to hesitate to return, while potential customers who see the reviews may choose to look for other places to eat.What's more, the reviews can easily spread widely on social media and produce a snowball effect, significantly worsening Gudeg Pawon's reputation.This risk is classified as high because negative reviews will have an impact on Gudeg Pawon's reputation and market share.
Mitigating this risk by responding to reviews quickly and politely is key to repairing reputational damage.The owner of Gudeg Pawon contacted the disgruntled customer and offered an apology.The owner of Gudeg Pawon provides compensation in the form of giving discounts and/or free meals to dissatisfied consumers.In addition, start taking concrete steps to fix any problems found, such as speeding up service times.In addition, Gudeg Pawon also uses the positive reviews received to rebuild customer trust, actively sharing these positive reviews on social media, providing proof to customers that Gudeg Pawon remains committed to serving the best culinary experience.
In Table 2, point 5 is related to innovation and technological adaptation in digital payments and promotions through social media, which must continue to be developed.Digital payments using QRIS and promotion through social media need to be further developed by Gudeg Pawon to adapt to current developments.In this digital era, almost all levels of society have begun to live a more realistic lifestyle along with the times.Therefore, Gudeg Pawon must also adapt to these developments.Failure to do this can affect the perception of Gudeg Pawon, but this is not an adaptable business, and if a business does not keep up with the times, it will also damage the convenience and practicality that customers should be able to introduce.
When a company is unable to adapt, it also affects the company's brand image and hinders the company's processes to run effectively and efficiently.This risk is classified as a moderate risk because it is still a problem that can be understood by some people who still use cash and do not make digital payments the main choice.This adaptation requires careful planning and tactical preparation carried out by Gudeg Pawon to adapt to the rapid development of the times.
Promotion through social media can also have a huge positive impact in reaching various markets in the digital era.Therefore, this risk is closely related to the infrastructure used and the market it wants to reach.Practical solutions include existing advanced features such as social media promotion, cashless payment implementation, and customer assistance that leverages market trends to support effective and efficient business processes and customer convenience.Gudeg Pawon can make non-product innovations such as: Adaptation of innovations in service, creation of content that can attract customers, media used, and others.
The utilization of technology integrated into business processes, which can be aimed at increasing customer attraction. 4.

CONCLUSION
The conclusion of the research related to Gudeg Pawon's culinary business in Yogyakarta is as follows: 1. Risk Identification in this study successfully identified various risks faced by Gudeg Pawon's culinary business, including operational risk, market risk, and reputation risk.
Significant operational risks include inconsistent raw material quality and ineffective raw material inventory management.Market risks include fluctuations in the number of tourists and changes in consumer preferences, while reputational risks relate to customer satisfaction and product uniqueness.
2. Risk Impact can affect Gudeg Pawon's processes and products, reputation, finances, and market share.For example, inconsistent quality of raw materials can affect the taste and quality of gudeg, which has an impact on the reputation and market reach of Gudeg Pawon.Changes in consumer preferences and fluctuations in the number of tourists also have a significant impact on financial stability and business operations.
3. Risk Mitigation To address these risks, research suggests several mitigation measures.
This includes improving product quality and innovation, strengthening brand identity through effective marketing, partnering with online platforms and culinary influencers, and conducting regular market surveys to understand changing consumer trends and preferences.In addition, diversifying income through catering services or collaborating with companies is also recommended to deal with economic fluctuations and natural disasters.
4. The uniqueness and adaptation of Gudeg Pawon is known for its unique presentation in a traditional kitchen (pawon) and unusual operating hours, which are an attraction for consumers.However, the COVID-19 pandemic forced changes in operational hours and business strategies, demonstrating Gudeg Pawon's adaptability to changing external conditions.

Figure 1 :Figure 1
Figure 1: Yogyakarta.Gudeg Pawon was established in 1958 by Prapto Widarso as the owner of Gudeg Pawon.Gudeg Pawon initially sells at the Sentul Market in Yogyakarta at 3 am for sellers and buyers at the market who come in the morning, pampering the stomachs of the buyers before starting the activity.However, seeing from the enthusiasm of consumers who are increasing and making long queues in the market, in 2000 the owner of Gudeg Pawon decided to open his business at home and changed the operating hours to 22.30 WIB.Gudeg Pawon is located on Jl.Prof. DR Soepomo, Janturan Umbulharjo, Yogyakarta.The uniqueness of Gudeg Pawon lies in the way it is served in a pawon (traditional kitchen) so as to create an authentic and traditional culinary experience that other Gudeg cuisines do not have(Hanggraito & Budiani, 2021).In addition to the uniqueness in the presentation in Pawon, what is a phenomenon of Gudeg Pawon is its operational hours, where Gudeg Pawon's operational hours are at 22.30 . One of the main trends in tourism development today is the growth of sustainable tourism.Increased awareness of the importance of protecting the environment and local culture, and the development of eco-friendly destinations, the use of renewable energy, and the promotion of sustainable local culture are strongly encouraged.Sustainable tourism development in Indonesia uses the Community Based Tourism (CBT) Pattern and 3 Approach models, namely the Local Wisdom Tourism Development Approach, the Tourism Village Development Approach and the Social Entrepreneurship Development Approach

Year Foreign Tourists Growth (%) Nusantara Tourists Growth (%) Foreign and Archipelago Tourists Growth (%)
the Regional Apparatus for 2023 -2026 of the Yogyakarta City Government published by the Jogja City Tourism Office, one of the visions of the Regional Long-Term 14 types of drinks are found.How to process it by boiling, frying, stir-frying, steaming, baking, baking/oven.How to serve it with lesehan and sit at the table.Serving times are morning, noon, and night.The tools used to produce traditional food are skewers, shells, muntu, wakul, boilers, cauldrons, and braziers.The utensils used to prepare this traditional dish are mortars, shells, muntu, wakuru, cormorant birds, cauldrons and braziers

Table 3 . Results of Gudeg Pawon Market Risk Management Analysis
Gudeg Pawon's market share.If competitors offer cheaper prices, better quality, or a more engaging experience, Gudeg Pawon could lose customers.Gudeg Pawon, which offers the advantage of serving gudeg directly in Pawon (traditional kitchen), processing gudeg using a E-