Introduction
COSO defines “enterprise risk management” as1:
The culture, capabilities, and practices, integrated with strategy-setting and performance that organizations rely on to manage risks in creating, preserving and realizing value.
An organization is a social entity. People are important to organizations. Organizational theory provides a macro examination of people in the organizations because it analyzes the organizations as a unit. The point of studying organizations is to enable us to find ways to improve performance and effectiveness.2 Improving an organization’s effectiveness is not a simple matter. The diversity of people within an organization is often matched by the needs of these people to want different ...
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