Standards for more effective use of integrated system for risk management

Tatiana Varcholová and Lenka Dubovická

Ekonomika a Management, 2012, vol. 2012, issue 2, 41-48

Abstract: Application of Enterprise Risk Management system is nowadays considered as a major source of competitive advantage. Therefore, non-financial enterprises should review their current approaches to risk management. An important role is played by international norms and standards, providing a common system of terms, definitions of basic concepts and principles in order to harmonize and improve the quality of risk management processes in a global context. Article provides an overview of the most important and widely used standards, points to some practical aspects of their use, discusses their advantages and highlights the key constraints.

Keywords: Risk management; Risk management standards; ISO 31000:2009; Manažment rizika; Štandardy manažmentu rizika; ISO 31000:2009 (search for similar items in EconPapers)
JEL-codes: D81 (search for similar items in EconPapers)
Date: 2012
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