M 540 BUP Definition and Key Factors of Enterprise Risk Management Discussion

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Computer Science

M 540

Bloomsburg University of Pennsylvania

M

Question Description

What is Enterprise Risk Management? What are the key factors that contribute to an effective risk management program?


600 words with APA citation

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Explanation & Answer

Attached.

Running head: ENTERPRISE RISK MANAGEMENT

Enterprise Risk Management
Institution Affiliation
Date

1

ENTERPRISE RISK MANAGEMENT

2
Introduction

Enterprise Risk Management has become a modern concept utilized by companies to
protect their finances and opportunities in the market against risks. It helps to categorize a firm’s
tolerance to risk since security is a growing concern for most organizations. The primary
objectives of an ERM system should be maximizing success and minimizing the probability of
potential losses arising from risks that affect quality, cost, and system performance (Lam, 2014).
The threats faced by businesses, such as cybersecurity risks, are managed through robust ERM
systems. A successful Enterprise Risk Management initiative demands various factors that drive
an effective program.
Enterprise Risk Management
Enterprise Risk Management (ERM) refers to the process of identifying and addressing
possible threats linked to a company's operations. The aim of conducting an ERM is to ensure
that the goals of an organizat...

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Cornell University

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