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ENTERPRISE RISK MANAGEMENT

What is this practice and how effective is it?

Enterprise risk management has recently risen in prominence as organizations have lost much respect and credibility following a wave of corporate governance scandals. One consequence is that many leaders have realized that the risk to their reputations is the greatest risk of all. The reaction of governments predictably has been to tighten regulations and extend punishments for serious miscreants. But do these actions get to the root of the problem? Many of these problems are endemic to the performance management systems and accepted practices, such as aggressive targets and incentives, that are in place in most organizations. We will explore these issues and suggest ...

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