Here is the synopsis of our sample research paper on Risk Management for the Real World. Have the paper e-mailed to you 24/7/365.
Essay / Research Paper Abstract
This 8 page paper looks at the application of risk management in the real world, considering the way different elements converge and the benefit of enterprise wide risk management and the Committee of Sponsoring Organizations of the Treadway Commission (COSO) in creating a culture that seeks to reduce exposure to risk. The bibliography cites 10 sources.
Page Count:
8 pages (~225 words per page)
File: TS14_TEriskmang.rtf
Buy This Term Paper »
Unformatted sample text from the term paper:
traditionally been divided by subject areas and tackled in a fragments manner, accountants deal with financial risk, information technology is dealt with risk associated with technology etc. However, an interesting
concept that has emerged in the way that risk may be seen not only as a collection of isolated different risk areas, but as an approach that ,ay be seen
in the culture of an organization. It is from this perspective that enterprise risk management originates. Enterprise wide risk management is part
of a common trend where there is a movement away from risk management that is designed to be reactive to risks that are faced to one which is proactive, seeking
to prevent the problems associated with risk (Strategic Finance, 2008; Meier, 2000). Enterprise wide risk management is a methodology of risk management whereas instead of the narrow, ad hoc and
fragmented approaches to risk management there is a brand-new approach where risk management is integrated, takes place continuously and has a board focus dealing with risk which is faced by
the organization in all areas (Barton et al., 2004). This means that under this new paradigm risk management is likely to be coordinated at a senior level, and the culture
of risk management is promoted where everyone in the organization understand the risk management is part of their job. This changes the culture of an organization and helps to minimize
the risk which is faced by a company. Furthermore, or risks across the entire enterprise are considered, those which are insurable and those which are not.
The ability to consider risk in an holistic manner creates the ability for risks to be appreciated across a wider number of employees, with a major
...