Risk Management in Organizations - 929 Words

Risk management has become an integral part of an organization. Expectation from the risk managers are increasing in order to meet up with the increasing competition and changes in the market. Currently the risk management techniques are having broader spectrum which covers operational, strategic and the entire enterprise besides being focused only into the financial risks. ERM (Enterprise Risk Management) is the need of hour and market is expecting the risk managers to possess more skill sets in managing the ERM. But this change is not being accepted by all due to various professional requirements (Bugalla Kallman, 2012). Dr. Kallman emphases that risk management is essential for all the organization and therefore clearly explain his thoughts about the techniques to be used by the managers in question form. The three important questions to be asked by the risk managers are: What is their current position in the S-curve? Whether their professional brand is attaching with the career goals? How should professional rebranding should take place in order to achieve these goals? (Bugalla Kallman, 2012). Changes are not accepted by all, in this case some managers are not ready to accept such changes but others are waiting till the changes are being well narrated, as this is will be beneficial in implementation. ERM is inevitable but the acceptance to these changes is taking place at slow pace. The fact is that future managers must possess these qualities in order to sustainShow MoreRelatedRisk Management : An Organization Essay897 Words   |  4 PagesRisk management is an organized process to identify, ana lyze and control risks in any organization. Today’s world is all about using information technology in almost all facets of human life such as business, education, health care or banking. 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