Paper Title :Perceived Risks in Entrepreneurial Process among Culinary SMEs

Author :Verencia Winona Janice, Melia Famiola

Article Citation :Verencia Winona Janice ,Melia Famiola , (2018 ) " Perceived Risks in Entrepreneurial Process among Culinary SMEs " , International Journal of Management and Applied Science (IJMAS) , pp. 21-27, Volume-4,Issue-11

Abstract : Perception towards risk may influence entrepreneurs to start their business and also the willingness to take risks. Timmons Model of Entrepreneurial Process considers team, opportunity, and resources as three components for a successful new business. By using it as theoretical basis, the research objective is to assess the perceived risks of culinary entrepreneurs in their entrepreneurial process, also their capacities or responses. Culinary SMEs play a huge role in boosting the economic growth of Indonesia, especially for a creative industry like Bandung. The research is expected to provide insight for the culinary business starters. In order to address this issue, the study uses qualitative approach and conducted semi-structured interviews with 11 entrepreneurs in Bandung. The results show perceived risks in opportunity, team, and resource factor of culinary SMEs, which are: business location selection, the effects of following food trends, partnering with GO-FOOD and Grab Food, team member selection, recipe disclosure, food cost, resource efficiency, stock control, fraud risk, employee risk, and supply risk. Therefore, the capacities presented are: choosing the right product and target market, always do research first, develop a skilled and competent team, have a clear system, maintain a competitive profit margin, resource optimization, employee management, agreement with suppliers. Index Terms- Culinary SMEs, Entrepreneurial Process, Perceived Risk, Timmons Model of Entrepreneurship

Type : Research paper

Published : Volume-4,Issue-11

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