Enterprise Risk Management Initiative, Poole College of Management, North Carolina State University

Providing Thought Leadership, Education and Training on the Subjects of Enterprise Risk Management

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From The ERM Library

ERM Challenges and Opportunites for Improvement Around the World

NC State’s ERM Initiative, in partnership with the Chartered Global Management Accountant (CGMA), has just released its report, Global State of Enterprise Risk Oversight 2nd Edition: Analysis of the Challenges and Opportunities for Improvement. Based on survey responses from over 1,300 business executives in organizations around the world, the report provides insights on the current state of enterprise-wide risk oversight, including identified similarities and differences in various regions of the world.

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How Global Changes Can Effect the Business Environment

April 4, 2014

As organizations develop their strategic plans, their horizons are often only looking out over the next two-to-three years. While staying focus on the “here and now” is important, failure to look at broader trends of how the world may be shifting may cause some boards and executive teams to wake up some day in the future to discover their strategies are no longer viable. To help organizations consider how shifts may be on the horizon, PricewaterhouseCoopers (PwC) has recently published information about five megatrends that are already changing the business environment. A megatrend is a change on a global scale that is often verified with factual data. In the past few years PwC has noticed that its clients are identifying and changing their strategies because of these megatrends. This article explains each of the five megatrends identified and then highlights possible affects of each trend.

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Our Top Articles

  • 2015 Report on the Current State of Enterprise Risk Management:  Update of Trends and Opportunities

    February 2, 2015

    2015 Report on the Current State of Enterprise Risk Management: Update of Trends and Opportunities

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  • Getting Started with ERM

    October 10, 2012

    Often times executives brush off any ERM initiative by stating they have smart people on the board or on management teams. David Hughes, Assistant VP of ERM and Business Continuity Planning at Hospital Corporation of America (HCA) explains how boards and senior executive may miss the identification of certain strategic risks because they are not “on the ground” interacting with customers and business operations. He emphasizes the importance of obtaining input about risk exposures from multiple levels of management to ensure the identification of the entity’s most significant strategic risks. He also speaks about how important it is for CEOs to embrace an ERM process and see the value in taking time to look at risk through a strategic lens.

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  • Getting Risk Appetite Right

    May 5, 2009

    While the concept of a risk appetite framework is sound and can provide many benefits to organizations, many of these frameworks failed during the current crisis due to design and application problems. Organizations can learn from several key failings in risk appetite frameworks that were highlighted by the crisis. Though this article looks at risk appetite from the perspective of banks, the suggestions are applicable to many types of organizations seeking to improve their risk appetite framework.

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  • Managing Risks to Sustainability Communication Strategies

    February 2, 2013

    There is a growing need for organizations to understand how their strategies are shaping their corporate sustainability responsibilities. New business practices may be needed to enhance and promote environmental, social, and governance (ESG) initiatives. Certain strategic risks may arise if these efforts are not executed in an effective manner. A recent report issued by The Conference Board explains the need to enable sustainability reporting as an essential imperative for engaging investors, customers, and employees in eventually lowering certain risks. Furthermore, it outlines risk management strategies on how best to communicate, engage and integrate the matter of sustainability reporting.

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  • A Four-Step Risk Approach to Strategy Execution

    December 12, 2010

    Organizations are seeing the value of adopting a risk-based approach to execute strategies in order to survive in a post-recession world. This approach enables managers to focus on opportunities in strategic plans, as well as minimizing the potential impact of threats. A recent article in the Journal of Business Strategy outlines four steps to execute a strategy using a risk-based approach.

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