Enterprise Risk Management.edited.docx - Enterprise Risk Management(ERM refers to a business approach that aims at identifying assessing and preparing

Enterprise Risk Management.edited.docx - Enterprise Risk...

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Enterprise Risk Management (ERM) refers to a business approach that aims at identifying, assessing, and preparing for hazards, dangers and other likely business disaster that are likely to impair the operations of an organization (Bromiley, McShane, Nair & Rustambekov, 2015) Several organizations have integrated this strategy in their daily activities, for, example, the University of California, approach Mars, and Walmart. Walmart’s ERM approach is similar to those of the other two in many ways, for example, with the help of its management and leadership, Walmart identifies what they term as the top risks that are likely to deter them from meeting business objectives, which are then discussed at workshops. During workshops, the risks are identified with particular business objectives and thus the development of risk interventions (Atkison, 2003). This is similar to what occurs at approach Mars and the University of California since both conduct workshops aimed at educating and identifying potential risks. Besides, after
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