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Fundamentals of Enterprise Risk Management by John J. HAMPTON

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CHAPTER 3CONTRIBUTIONS OF ERM

RISK QUOTE: Not only do I not know what’s going on, I wouldn’t know what to do about it if I did.

—GEORGE CARLIN, COMEDIAN

RISK QUOTE: What I know for sure is that behind every catastrophe, there are great lessons to be learned. Among the many that we as a country need to get is that as long as we play the “us and them” game, we don’t evolve as people, as a nation, as a planet.

—OPRAH WINFREY, BUSINESSWOMAN AND TV PERSONALITY

Now we move into new territory. In this chapter, we identify the seven contributions of ERM. More than that, we develop a new paradigm for enterprise risk management. Having discussed the definitions and the importance of ERM, we get closer to the operational level—the place where risk comes ...

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