EnterpriseRiskManagementSystems
EnterpriseRisk is a term that broadly refers to the comprehensive management of risks faced by an organization. It encompasses a systematic process of identifying, assessing, and prioritizing potential risks, followed by the coordinated application of resources to minimize, monitor, and control the probability and/or impact of unfortunate events. The goal of enterprise risk management is to protect the organization's value, which includes its assets, earnings, and reputation, while also enabling it to achieve its strategic objectives.
This approach moves beyond siloed risk management, where different departments might handle their own specific risks
The benefits of effective enterprise risk management can be substantial. It can lead to improved decision-making