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It Is Not Worth the Risk to Ignore Enterprise Risk Management

Protecting your organization requires addressing not only team-level risk but also a holistic view of the broader business activities.

When business units work in isolation and create silos, enterprises may find themselves in a risky situation. Most business units are only interested in the risk that is associated with what they do and may ignore the overarching risks to the larger business. Protecting your organization requires addressing not only team-level risk but also a holistic view of the broader business activities.

According to Keith Marchiano with Baltimore IT support company Kyocera Intelligence shares, when you consolidate the risk management at a higher level within your company, you’re creating an action plan that can be administered quickly and effectively — reducing the potential of damage to your operations and your company’s reputation.

[This article, authored by Saul Rosen, originally appeared on Newswire. To read his full post, including an overview of Enterprise Risk Management, five problems with traditional ERM strategies, and embracing ERM, click here.]

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