ERM IN UNIVERSITIES.edited.docx - Running head ENTERPRISE RISK MANAGEMENT Your name Instructor's name Course Date of submission 1 Running head

ERM IN UNIVERSITIES.edited.docx - Running head ENTERPRISE...

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Running head: ENTERPRISE RISK MANAGEMENT 1Your nameInstructor's nameCourseDate of submission
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Running head: ENTERPRISE RISK MANAGEMENT 2QUESTION 1Chapter 9 explained reasons why universities should implement ERM. Do you agree with their reasons for ERM implementation in university setting? Should colleges implement ERM to help mitigate risks among students and employees? What are the biggest challenges you see with implementing ERM in the university setting?Enterprise risk management has greatly been implemented in the academic setting with the main purpose of promoting the understanding and knowledge of risks and their mitigation to help the higher institutions in achieving their strategic goals. The ERM implementation in universities would help in enhancing an appropriate allocation of resourcesto where they are needed most. The implementation would as well help in monitoring and managing tendering and contractual risks in the human resource departments. On the side of the students, the implementation would be helpful in keeping fees track in their school accounts. Enterprise risk management should be implemented since they help the university in creating the value of its operations in that they are able to assess deviations and instil corrective measures, particularly in their learning processes. ERM would as well help in reducing incidences of errors thereby enhancing that results for students are reliable. The institution will as well have a chance for a continuous development since new areas of development will be identified through the systems and resources are efficiently allocated to them. The employees will also face enhanced decision making since the assessment of cases at hand will have been done.However, the implementation process of ERM in these higher learning institutions setting is not always that simple but it is associated with various challenges to its success some of which include inadequate knowledge and skills among the employees. The enterprise
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  • Fall '19
  • ERM, Enterprise risk management

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