June 2014
Intermediate to advanced
280 pages
10h 47m
English
Content preview from ERM - Enterprise Risk Management: Issues and Cases
Become an O’Reilly member and get unlimited access to this title plus top books and audiobooks from O’Reilly and nearly 200 top publishers, thousands of courses curated by job role, 150+ live events each month,
O’Reilly covers everything we've got, with content to help us build a world-class technology community, upgrade the capabilities and competencies of our teams, and improve overall team performance as well as their engagement.I wanted to learn C and C++, but it didn't click for me until I picked up an O'Reilly book. When I went on the O’Reilly platform, I was astonished to find all the books there, plus live events and sandboxes so you could play around with the technology.I’ve been on the O’Reilly platform for more than eight years. I use a couple of learning platforms, but I'm on O'Reilly more than anybody else. When you're there, you start learning. I'm never disappointed.I'm always learning. So when I got on to O'Reilly, I was like a kid in a candy store. There are playlists. There are answers. There's on-demand training. It's worth its weight in gold, in terms of what it allows me to do.
3 Select and Implement the Appropriate Risk Management Technique
Risk treatment occurs after risks have been identified, evaluated and assessed. Treatment can include avoidance, acceptance, mitigation, transfer (for example, insurance), separate, and optimize and exploit. ERM often produces novel risks that require novel treatment. What organizations are beginning to understand is that proper treatment can be used not just to reduce the cost of loss but also increase the bottom line. Examples of exploitation include venturing into niche markets where others have been unable to control loss, or using risk control techniques to increase reputation and by doing so increase revenue and the acquisition of more profitable business.
3.1 RISK TO REPUTATION
Sophie Gaultier-Gaillard
Associate Professor at Paris 1 Panthéon-Sorbonne University, Paris
Jean-Paul Louisot
Formerly Université Paris 1 Panthéon-Sorbonne, Directeur pédagogique du CARM Institute, Paris, France
Jenny Rayner
Director of consulting firm Abbey Consulting
Warren Buffett (Chairman and CEO, Berkshire Hathaway) once said: “It takes 20 years to build a reputation and five minutes to ruin it. If you think about that you'll do things differently.” The teachings to draw from this quote are manifold. Firstly, it demonstrates that risk is a social construct (Douglas and Wildawsky, 1982). Secondly, it shows that people tend to perceive it as a threat and totally miss the dual aspect of risk, i.e. the potential opportunities. ...
Become an O’Reilly member and get unlimited access to this title plus top books and audiobooks from O’Reilly and nearly 200 top publishers, thousands of courses curated by job role, 150+ live events each month,
and much more.
Read now
Unlock full access
More than 5,000 organizations count on O’Reilly
O’Reilly covers everything we've got, with content to help us build a world-class technology community, upgrade the capabilities and competencies of our teams, and improve overall team performance as well as their engagement.Julian F.
I wanted to learn C and C++, but it didn't click for me until I picked up an O'Reilly book. When I went on the O’Reilly platform, I was astonished to find all the books there, plus live events and sandboxes so you could play around with the technology.Addison B.
I’ve been on the O’Reilly platform for more than eight years. I use a couple of learning platforms, but I'm on O'Reilly more than anybody else. When you're there, you start learning. I'm never disappointed.Amir M.
I'm always learning. So when I got on to O'Reilly, I was like a kid in a candy store. There are playlists. There are answers. There's on-demand training. It's worth its weight in gold, in terms of what it allows me to do.