Scherzer, Martin H.; Mackay, Robert
September 1998
Financial Executive;Sep/Oct98, Vol. 14 Issue 5, p30
Academic Journal
The article discusses enterprise risk management (ERM) which combines strategic planning with risk analysis to improve a company's financial performance. The ERM system analyzes and manages the enterprise's risks within a framework where risk exposures can be operational, hazard, financial, and strategic. The system yields new insights about uncertainty by considering risk from an enterprise-wide perspective, examines potential interrelationships, evaluates the organization's overall capacity for risk retention, and assesses the company's capital allocation policies. The silo risk management or risk by discipline management style is mentioned, as well as the idea that perspectives on risk exposure vary at the different organizational levels. INSET: Enterprise Risk Management: What's Driving The Trend?.


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