ERM Concepts [10]

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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’. ERM concepts may then need adapting. See e.g. Kemp and Patel (2011). Entity-wide risk management 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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