Corporate Culture and ERM
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Boards considering reasons to implement ERM should examine the growing data suggesting a correlation between mature risk management practices and value creation, as well as the increasing scrutiny of risk management practices by courts and regulators. In addition, implementing a process that fosters better information and communication concerning potential barriers to the company’s strategic objectives is simply good management. Many organizations and investors are urging companies to adopt ERM as a best practice, and as ERM processes continue to evolve, companies appear to be embracing this recommendation.