Book description
Employees make dozens of day-to-day decisions—and any one of them could come back to haunt you, even when the decision does not seem to have hidden or unknown ramifications. That is why your organisation must have a protocol in place for identifying and mitigating all major business risks long before it is needed.
At the strategic level, risk management and strategic management are intertwined. Using this book, learn how to apply powerful tools and approaches to make your planning processes more effective and flexible and build a set of decision-making processes based on plain language. Author, Ron Rael, uses quality concepts/language (TQM & Six Sigma) to define the Enterprise Risk Management (ERM) process and value of prevention, while showing how these elements are both necessary and highly desired in an organisation’s strategic decision-making.
ERM extends to your everyday business decisions because employees take actions and make daily choices that could have a detrimental effect on your profits and business’s longevity and future. This book will
- provide a best practices view on the latest developments in ERM
- deliver how-to guidance on developing ERM processes at the enterprise and department levels
- facilitate enterprise-wide ERM participation via practical information and examples
- deliver cross-functional management and implementation of ERM
Table of contents
- Cover Page
- Title Page
- Copyright Page
- Dedication and Acknowledgements
- Contents
- Introduction
- Chapter 1: Introduction to Enterprise Risk Management
- Chapter 2: The WHAT of Risk Management
- Chapter 3: WHY Is Risk Management Important to Us?
- Chapter 4: WHICH Risks Do We Need to Be Concerned about?
- Chapter 5: WHEN Is It Appropriate to Plan for Risk?
-
Chapter 6: WHERE Do Our Efforts Need to Be?
- Sources of Jeopardy
-
ERM Step Three-Analyse the Ability of Your Organisation to Handle Risk
- Risk Management Tool Eight-Culture Assessment
- Embedded in the Cultural Fabric
- What Is Culture?
- How a Culture Story Is Developed
- Visible Clues about Risk in Your Cultural Norms
- Culture Must Never Be Downplayed
- Determining Your Culture’s View of Risk Taking
- Risk Management Tool Nine-Assessment of a Balanced Culture
- Barriers to ERM Implementation
- Ways to Integrate ERM into Your Culture
- Five ERM Actions for Immediate Implementation
- Onward
- Your Action Plan
-
Chapter 7: WHO Needs to Be Involved?
- Risk Management Is a Team Effort
- Finance’s Role in ERM
- Insurance’s Role in Risk Management
- ERM Step Four: Minimise Exposure to Risk
- Integrate ERM Goals into Existing Infrastructure
- Minimise Internal Risk of Unethical Employee Behaviour
- Internal Pressures Increase Ethics Risk
- Two Tools to Analyse and Reduce Exposure to Ethics Risk
- Onward
- Your Action Plan
-
Chapter 8: HOW Do We Conduct Enterprise Risk Management?
- Process for the Leadership Body to Implement Risk Management
- ERM Step Five: Recover Quickly from the Negative Impacts of the Risk
-
Five Tools to Help Clarify Accountability and Empower Employees to Act
- Risk Management Tool Fourteen-Risk Authority and Responsibility Chart
- Risk Management Tool Fifteen-Formalised Action Plan
- Risk Management Tool Sixteen-Formalised Action Plan Summary
- Risk Management Tool Seventeen-Pitfall Analysis
- Risk Management Tool Eighteen-Controllable, Negotiable and Given Analysis
- Onward
- Your Action Plan
- Chapter 9: What Happens NEXT?
- Chapter 10: Epilogue
- Appendix A: High Road Institute’s Process for Implementing an Effective Risk Management Programme
- Appendix B: What Happened in 2007?
- Appendix C: Enterprise Risk Management
Product information
- Title: Strategy and Risk Management
- Author(s):
- Release date: May 2017
- Publisher(s): Wiley
- ISBN: 9781940235219
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