Incorporating Enterprise Risk Management Into Your Business Strategy
All business entities, whether for-profit, governmental bodies, or not-for-profits, face uncertainties and risks that threaten their performance. Risks are unavoidable in everyday life, and businesses are no exception. For any enterprise, managing risks is imperative for attaining success. Enterprise risk management (ERM) offers a framework for businesses to deal with uncertainty and its associated risks effectively. It can be incorporated into internal audit planning, performance management systems, and budgets. What You Should Know About Enterprise Risk Management Enterprise risk management is a strategy to identify, assess and plan for any potential dangers, losses, and hazards that could interfere with business…