Assignment: Explaining Risk Management
Imagine that you have been emailing one of your friends who is interested in pursuing her degree. She knows you are in a risk management course, but does not know much about the topic. She has asked if you could explain to her what risk management is.
Write a 750- to 1,050-word email in which you explain to your friend what risk management is. Include the role of the risk manager.
Format your Email to a Friend Explaining Risk Management assignment according to APA guidelines.
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HCS 456 WEEK 2 Enterprise Risk Management Paper
Write a 1,050- to 1,400-word paper about enterprise risk management (ERM).
Include the following in your paper:
- 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.
Cite at least 3 outside sources.
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Format your paper according to APA guidelines.
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Enterprise Risk Management | ERM Strategies
Enterprise Risk Management offers many advantages over traditional risk management. It improves an organization’s strategic decision making by addressing threats and opportunities in a way that integrates risk management with the strategic planning process. ERM is a systemic approach to managing all of an organization’s uncertainty in order to maximize shareholder value by optimizing risk taking.
Traditional risk management considers only hazard and operational risks that can affect an organization. ERM looks at additional risks such as environmental, compliance, financial, and strategic. ERM is not exclusive to the corporate world, but also can be implemented into the sole proprietorship, partnership, government and its institutions, not-for-profit organizations, non-governmental organizations and all other forms of enterprise benefited from integrating ERM with strategy.