Role of Risk Management and Standardization for supporting Innovation in New Normal based on Lessons Learned during Pandemic COVID-19

Abstract

COVID-19, which hit all countries in the world at the end of 2019, has disrupted various aspects of life, social, economic, and work model in organizations such as government organizations, private organizations, and businesses. In terms of a supply chain, the various activities are production, processing, distribution, and consumption. Many efforts have done to overcome this situation, not only to combat the pandemic its selves but also to the resulting impact in the short-term, middle-term, and long-term, national-wide or locally. In the course of time, there are still a lot of risks that must be well managed and mitigated properly. On the other hand, there are also opportunities to open innovation based on the lesson learned from the COVID-19 pandemic. This paper describes the role of risk management and standardization in supporting innovation in the new normal based on lessons learned during the COVID-19 pandemic. Key factors affecting risk management and standardization on the innovation are identified and analyzed. Some recommendations for improvement based on risk management and standardization are also summarized. The method used in this review is descriptive-analytic based on literature studies from several scientific journals, and publications released by international organizations, associations, and government policies.

Keywords

• innovation
• lesson learned
• new normal
• risk management
• standardization