ERM concepts and Risk categorisation [16]

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Bullet points include: Enterprise in ERM has two potential connotations: Holistic (‘enterprise’-wide, i.e. ‘entity’-wide) management of risk Management of business/portfolio as an ‘enterprise’ (for profit) Usually both, particularly for management consultants! But not all entities are ‘for profit’. Concepts may then need adapting See e.g. Kemp and Patel (2011). ERM for pension funds E.g. DB pension funds do not exist solely to make money for shareholders Likewise (often) other stakeholders

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