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Essay / Research Paper Abstract
This 10 page discuses the following quote "Enterprise wide risk management as an assurance tool is increasingly being mandated as either principle or requirement within developed markets and economies". To discuss this the concept if Enterprise Wide Risk Management (EWRM) is defined and compared to traditional risk management, the way in which it has become a corporate culture issue and whether or not it can add value. The bibliography cites 6 sources.
Page Count:
10 pages (~225 words per page)
File: TS14_TEEWRMimp.rtf
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Unformatted sample text from the term paper:
The actions that you take will depend upon the type risk which is being managed, this can be anything from the risk of natural disasters such as earthquakes or floods,
accidental events such as fires or accidents which pose a risk to premises and employees, security risks, financial risks including fraud, changes in the competitive environment and many other types
of risk (Barton et al., 2004). Risk management strategies may vary, from the use of insurance to cover for potential losses are liabilities through to the way in which
strategy is formulated and the way in which the corporate culture is managed. The recognition risk is increased over the past decade, not only due to increasing threats; such
as terrorism, but also due to increasing awareness that is aided by the proliferation of information through the professional and popular media. This has had an impact on the way
risk is perceived in the way risk management takes place. It may be argued that there is an increasing movement towards enterprise wide risk management as an assurance tool, or
especially in an age where there have been numerous risk this management scenario such as resulted in loss and investor, and market confidence. Enterprise wide risk management is part of
a common trend where there is a movement away from risk management that is designed to be reactive to risks the tough faced to one which is proactive, seeking to
prevent the problems associated with risk (Strategic Finance, 2008; Meier, 2000). Enterprise wide risk management may be seen as a new paradigm,
it provides a contrast to the traditional way in which risks were managed. Traditionally risks have been managed utilizing a fragmented paradigm, where the risk is managed according to the
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