Mačečević, Dubravko; Cesarec, Ivana
January 2014
International Conference: Crisis Management Days;2014, p463
Conference Proceeding
The purpose of this paper is to concentrate on managerial aspects of enterprise risk management (ERM) aiming at the overall strategy implemented properly, which can be controlled risk appetite and exposure to risk during the crisis. In response to the crisis, the company arises the necessity of reconstruction structure of the risk management system, emphasized the role and responsibilities of governing bodies, as well as an integrated approach to risk control. Best practices of industrial organizations affirming the need for an integrated approach to ERM, with an emphasis on the cultivation of a consistent risk culture as the most important element of the risk management system. ERM concept promotes access to a wide range of risk management systems. Likewise, recognizes the fact that different events in a time of crisis can converge increase risk exposure, and ultimately resulting in losses. Efficient and effective management of risk into account the potential risks in all aspects of the company's operations and analyzes the overall risk appetite and responsible strategy. The economic crisis is immense challenge to improve the risk management system in practice, and an exceptional motivator crisis management that promotes and implements the appropriate ERM programs.


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