Enterprise Risk Management System in Industry and Academia Paper

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Chapter 6 presented the approach the LEGO Group used to implement ERM, and chapter 9 presented a discussion and case study on implementing ERM in a higher education environment. Please explain how ERM adoption and implementation in the higher education (HE) environment differs from the for-profit environment. Cite specific examples from this week’s readings.

To complete this assignment, you must do the following:

A) As indicated above, explain how ERM adoption and implementation in the higher education (HE) environment differs from the for-profit environment. Cite specific examples from this week’s readings. In your explanation, discuss at least three points or aspects in which the implementing ERM in the two environments differ.

250 - 300 words

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Explanation & Answer

Attached.

ERM in Industry and Academia
Name
University

ERM in Industry and Academia
The implementation of an enterprise risk management system in academia differs from
that in the commercial for-profit sector in the extent of comprehensiveness and level of detail.
This stems from the fact that the for-profit sector is often heavily regulated and faces several
risks on a daily basis as opposed to the university environment which is often not as heavily
regulated and thus may not face heavy scrutiny. Therefore, ...


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