Professor Forman

3 Enterprise Risk Management

There has been a recent surge of interest in Enterprise Risk Management. Unfortunately, there is no consensus on what ERM means. To some, it means risk management at the enterprise level — or throughout an organization and includes governance, communication, and shared responsibility. We suggest that ERM means more than that. Specifically, we suggest that ERM includes two distinct but related analytical processes involving risk – risks-we-face and risks-we-take.

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