Enterprise Risk Management—Adopting Risk-Based Decision Making in a Chemical Enterprise From the Board Room On Down Through All Functions and All Levels

摘要

Enterprise risk management (ERM) practices have been in place for decades in many businesses. However, following a number of failures of large financial, energy and telecommunications ventures, the interest in broader adoption of effective ERM systems has increased dramatically. During the last decade in response to recommendations and guidance by leading professional societies concerned with financial accounting and corporate governance practices, many more publicly owned non-manufacturing and manufacturing businesses have begun implementing very structured and rigorous ERM systems.