Risk Management and Enterprise Risk Management

References

Cite

Share

Abstract

This article discusses the differences between risk management and enterprise risk management. Though the concept of risk management is very old, almost as old as the beginning of human existence the concept of ERM is new around two decades old. The importance of enterprise risk management increased over the period of time due to various crises and the emergence risk based capital in the banking and insurance industry. The article discusses the various factors necessary for the success of enterprise risk management.