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Enterprise Risk Management (ERM) is the act of recognizing and systematically managing probable occurrences that pose risks to accomplishing strategic goals or prospects for strategic advantage.

The evaluation of important risks and the execution of appropriate risk solutions are the essential pillars of ERM. Tolerance or acceptance of risk; termination or avoidance of risk; risk sharing or transfer via policy, a partnership, or other agreement; and risk mitigation or reduction through internal p

When firms consider risk reduction, they frequently divide it into internal and external risks. It seems familiar to label risk as "external" if the perpetrator is from outside your organization, such as an intruder who sneaks in, digitally or physically, and takes business assets. Break-ins, on the other hand, do not pose an external risk.

However, in this blog, we will be discussing business risks and what are the factors of internal and external risks affecting an organization.

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What do the power outages in Texas in 2021 and the ones in California in 2018 and 2019 have in common? Although the crises are different – one faced fire, the other an ice storm – in both cases, the power utility industries were negligent in risk management.

The root causes of these power grid failures were known in advance by the employees of the responsible organizations, and were therefore 100% preventable. The overarching problem, however, is that these organizations are heavily siloed, and d

In their book, Surviving And Thriving In Uncertainty: Creating The Risk Intelligent Enterprise, Funston and Wagner shed to light how a conventional approach to risk management has failed many businesses. In the book, the authors exhibit a situation where businesses have failed to identify the differences between conventional wisdom and unconventional realities when it comes to managing business risks. They go on further to argue that, a traditional approach to risk management is misguided as it