Enterprise risk management
Write a 1,050- to 1,400-word paper about enterprise risk management (ERM) in which you:
- Explain the difference between traditional and enterprise risk management.
- Explain why enterprise risk management is a more effective approach for today’s organizations.
- Explain key drivers of value-driven enterprise risk management.
- Explain how these key drivers are applied within health care to drive enterprise risk management. Provide examples.
Answer preview
Enterprise risk management is a more effective risk identification and management strategy compared to the traditional risk management strategy (Hampshire, 2012). Risk management has been part and parcel of the corporate world for quite some time. However, as time passes, these practices evolve since most of an organization’s business aspects are increasingly becoming interconnected and reliant on each other. Organizations in today’s world should abandon the concept of looking at risk management from a narrow perspective and take a much broader look at it. ERM gives companies the perfect platform to do this effectively.
[1166 Words]
Enterprise risk management
