Identifying Risk Identification Towards Halal Products Among Youngsters

Abstract

Halal products are not just for consumption. Modest clothes, halal media and entertainment, halal logistics and supply chains, and other sectors that cater to Muslim customers worldwide are among them. There are three main objectives driving this study. In the beginning, it aims to pinpoint the many elements of young people's risk consciousness with reference to halal products. The research makes an effort to strategically combine qualitative and quantitative investigations in order to build a comprehensive risk register. The researchers' final goal is to develop a risk management matrix with a focus on halal goods. The risk management matrix offers a methodical approach to identifying and reducing the risks associated with halal goods. The study searches for possible risk scenarios, evaluates how they can affect halal products, and takes likelihood into account. Their work led to the creation of a risk management matrix, which lists risks in order of decreasing risk and increasing risk based on available mitigation methods. It is noteworthy that halal-certified products, which sometimes cost more than their non-certified counterparts, have a higher exposure to risk ratings (0.76). The study emphasizes the value of raising young consumers' awareness of halal products and highlighting the risks associated with their choice of halal goods.