The challenges of and solutions for implementing enterprise risk management

John R.S. Fraser and Betty Simkins

Business Horizons, 2016, vol. 59, issue 6, 689-698

Abstract: Enterprise risk management (ERM) began to take root in the late 1990s and has since become generally recognized as an expectation of good management and corporate governance. However, as evidenced by surveys and research, many companies still struggle with ERM implementation. This article explores the challenges companies face when implementing ERM and offers solutions for firms struggling with the concepts and execution. We draw upon Hydro One's experience in achieving ERM maturity as a best practice case study. The company's ERM methods have been researched and documented extensively. With over 15 years of ERM success, Hydro One is an excellent organization to benchmark for ERM best practices.

Keywords: Enterprise risk management; Corporate governance; Risk; Corporate culture; ISO 31000 (search for similar items in EconPapers)
Date: 2016
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Citations: View citations in EconPapers (18)

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Persistent link: https://EconPapers.repec.org/RePEc:eee:bushor:v:59:y:2016:i:6:p:689-698

DOI: 10.1016/j.bushor.2016.06.007

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