Introducing ERM

Stefan Hunziker ()

Chapter Chapter 1 in Enterprise Risk Management, 2025, pp 1-15 from Springer

Abstract: Abstract Enterprise Risk Management (ERM) is an enterprise-wide process that identifies, assesses, and manages all key risks. The goal is to generate value for all stakeholders. Based on this definition, the chapter outlines the key success criteria of modern risk management. We learn what needs to be paid special attention to in practice to leverage the potential of ERM and create maximum value. In particular, we discuss that financial risks are not the most critical risk category for most industries. Furthermore, a positive risk culture is supported when historically established “risk silos” can be overcome. Risk managers need to establish a uniform ERM language across the company. Companies must understand ERM as an integral part of strategy development, execution, and decision-making. Then, ERM is capable of unfolding its value-generating potential.

Date: 2025
References: Add references at CitEc
Citations:

There are no downloads for this item, see the EconPapers FAQ for hints about obtaining it.

Related works:
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link: https://EconPapers.repec.org/RePEc:spr:sprchp:978-3-658-48879-6_1

Ordering information: This item can be ordered from
http://www.springer.com/9783658488796

DOI: 10.1007/978-3-658-48879-6_1

Access Statistics for this chapter

More chapters in Springer Books from Springer
Bibliographic data for series maintained by Sonal Shukla () and Springer Nature Abstracting and Indexing ().