EnterpriseRiskManagement

EnterpriseRiskManagement - EnterpriseRisk Management...

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Enterprise Risk  Management David Sansevere, Raj Shah,  Stefanie Taylor, Meng Yan
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What is ERM? n A process used by a company to proactively identify  and manage foreseeable and unforeseeable risks n Foreseeable risk- natural disaster, fire  n Unforeseeable risk-  products harming customers,  employee stealing assets n Once a company identifies its risk, it can respond to  them in various ways such as accepting, avoiding, or  reducing the risk 
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n Unforeseeable risk in 1982 n Someone inserted poison into bottles of Tylenol and  placed them back on the retail shelves  n Killed 7 people n They responded to this by recalling and destroying 31  million bottles of Tylenol n Now they use a “tamper-resistant” packaging to reduce  the risk from this happening again 
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Foreseeable Risk n Companies should identify foreseeable risks before they 
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EnterpriseRiskManagement - EnterpriseRisk Management...

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