Risk Management for Business Trust

Pal Michelberger

from Óbuda University, Keleti Faculty of Business and Management

Abstract: ‘Si vis pacem, para bellum’, or ‘if you want peace, prepare for war’, as the Roman adage says. By an up-to-date version, if you want enterprise security, prepare for risk management. This paper deals with one of the means of attaining a state of enterprise security primarily on the basis of ISO 31000, a family of standards relating to risk management well-known in trade circles. Other trust-building business models, standards, and guidelines are also discussed. Risk management may have multiple points of linkage to contexts external or internal to, and stakeholders of, a company. From outside, it is affected by law, third-party sponsors, and international, national or local regulations. From inside, it is subject to the influence of organizational goals, investment projects, business processes, business models adopted by the organization, standards, and existing agreements with business partners. It is appropriate for a company to give priority, among strategic objectives of its own, to control efforts based on pro-active risk analysis. If attained, enterprise security may easily become a factor of competitiveness.

Keywords: COSO; ISO 31000; ISO 27005; process security; Corporate Social Responsibility (search for similar items in EconPapers)
Date: 2014
ISBN: 9786155460067
References: View complete reference list from CitEc
Citations: View citations in EconPapers (1)

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