Fundamentals of Enterprise Risk Management: How Top Companies Assess Risk, Manage Exposure, and Seize Opportunity

Fundamentals of Enterprise Risk Management: How Top Companies Assess Risk, Manage Exposure, and Seize Opportunity

Fundamentals of Enterprise Risk Management: How Top Companies Assess Risk, Manage Exposure, and Seize Opportunity

Fundamentals of Enterprise Risk Management: How Top Companies Assess Risk, Manage Exposure, and Seize Opportunity

Synopsis

One thing that will never change about the business world is the presence of risk. But risk management has changed dramatically since the 2008 financial crisis...and new developments in technology and communications demand up-to-the-minute approaches for defending against threats-and seizing opportunities.

Extensively updated, the second edition of Fundamentals of Enterprise Risk Management examines the latest technologies such as Riskonnect and High Tech Electronic Platform (HTEP), and helps readers recognize both internal and external exposures, understand crucial concepts such as risk mapping and risk identification, and align risk opportunities with their organization's business model.

Packed with practical exercises and fresh case studies from organizations such as IBM, Microsoft, Apple, JPMorgan Chase,and Sony-as well as new material on topics including the new role of Risk Owner, cutting-edge collaboration methods, and the upside of risk-this critical guide provides readers with the tools and information they need to keep their organizations as blissfully risk-free as possible.

Excerpt

Risk quote: More than at any other time in history, mankind
faces a crossroads. One path leads to despair and utter hopeless
ness. the other to total extinction. Let us pray that we have the
wisdom to choose correctly
.

—WOODY allen, movie producer

Risk QUOTE: Better to remain silent and be thought a fool than to
speak out and remove all doubt
.

—ABRAHAM lincoln, U.S. president

Hurricane Andrew

In 1992, Hurricane Andrew caused significant losses to Allstate, State Farm, and other insurance companies because Florida insurance law did not handle flood and wind damage properly. If wind took off the roof before a storm surge destroyed a house, how much would separate wind and water policies pay to reimburse the damage? After cleaning up the mess, insurance companies worked with the Florida State Insurance Department to apportion loss from a combination of water and wind. in 2004 and 2005, hurricanes Frances, Charley, Ivan, Katrina, and Rita damaged . . .

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