Enterprise Risk Frameworks: Surveying the Landscape, Moving Toward Governance

by Robert N. Charette

Bryan's sentiment unswervingly supports the fact that organizations must adapt to changing circumstances and highlights the consequences if they don't. Over the past 20 years, major initiatives designed to contend with the changing landscape of business and the economy have taken hold. One is enterprise risk management (ERM), which attempts to manage all competitive risks for a company. Globalization has created new business opportunities and risks that every company must contend with. But globalization has highlighted the need for improved governance of business as well. With every local market now a global market, what happens locally has global effects, and vice versa.