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How Managing Political Risk Improves Global Business Performance
December 31, 2006
A study was completed by PricewaterhouseCoopers Advisory and Eurasia Group dealing with political risk and how it affects multinational companies. The results of the study showed that multinational companies are…
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Managing the Unexpected
September 25, 2006
The Quarterly Journal of the EDS Agility Alliance recently published an article titled, Unwelcome Surprises, that discusses the dangers that can evolve from having a decentralized business structure that does not promptly alert upper management of potential dangers. Not knowing the outcome of future events makes the management of risks seem impossible.
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ERM – UnitedHealth Group
July 1, 2005
UnitedHealth Group has implemented ERM within the organization to help identify risks and alleviate negative exposures while profiting from positive opportunities. ERM implementation at UnitedHealth Group evolved out of their Business Risk Management processes used in their six diverse operating businesses.
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Expanding ERM to Embrace Strategic Risk
April 1, 2005
Firms are insured against the usual risks but they are not protected against strategic risks. By using enterprise risk management techniques to identify strategic risks, firms can use countermeasures for anticipating and managing these threats systematically and turn some of them into growth opportunities.
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ERM and Business Continuity
March 11, 2005
There is a huge debate over the roles and positioning of risk management and business continuity management within organizations. Some argue one function should be subordinate to the other. The…
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Outsourcing Decisions: Taking an ERM Approach
July 1, 2004
Before outsourcing a business process or function, it is essential to assess the associated risks from an enterprise-wide risk management perspective. Poorly managed outsourcing decisions may ultimately increase, rather than decrease, total risk for an enterprise. An ERM approach to risk management is appropriate for managing the complexity of risks associated with outsourcing decisions.
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Benefits of Managed Risks
November 1, 2003
When companies don’t guard themselves against substantial risks, the outcome can easily produce a damaged reputation. However, risk management should not discourage growth through eliminating risks, but the reverse should take place and positive risks should be implemented. Therefore, effectively managing the many risks faced by an organization is critical to its success.
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Book Review: Making ERM Pay Off
December 31, 2001
The book, Making Enterprise Risk Management Pay Off, discusses the use of ERM for managing organizational risks and creating, protecting, and enhancing shareholder value. The book contains in-depth case analyses of five companies' risk management practices. These analyses provide several lessons learned about ERM, which can be helpful for others trying to implement ERM in their organizations.
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Driving Need for ERM
March 31, 2001
Many environmental forces—such as globalization, technology, the Internet, and deregulation—have created uncertainty for twenty-first century businesses. Companies therefore have to re-think business models, core strategies and customer bases. As a…