Enterprise risk management | Business & Finance homework help

1) “…managing risk is as much about judgment as about numbers.” Quote from The gods strike back: A special report on financial risk in The Economist February 13, 2010. Discuss how an organization should bring judgment into its Enterprise Risk Management process. At what level in the organization should judgment be exercised?

2) “Besides, there is more to establishing a solid risk culture than empowering risk officers. Culture is a slippery concept, but it matters. ‘Whatever causes the next crisis, it will be different, so you need something that can deal with the unexpected. That’s culture,’ says Colm Kelleher of Morgan Stanley.” Quote from The gods strike back: A special report on financial risk in The Economist February 13, 2010. Discuss how and where “culture” should fit into the Enterprise Risk Management process. 

3) “Rare big changes can be more significant than the sum of many small changes.” Quote attributed to Benoit Mandelbrot in The gods strike back: A special report on financial risk in The Economist February 13, 2010. Which type of change should be the focus of the Risk Identification and Evaluation process?

4) “The term ‘mastering uncertainty’ is a dangerous one. It can lead managers to think that they can analyse their way through the fog or control the environment in which they operate. This points efforts in the wrong direction, as what should be mastered instead is the ability to respond.” Quote taken from “Can we really ‘master’ uncertainty?” by Jean-Louis Barsoux and Preston Bottger in the Financial Times Series Mastering Uncertainty: Part 1:  Seeking shelter from the storm March 17, 2006….Should the objective of the ERM process be on “mastering uncertainty” or on “the ability to respond”?

5) “There are four distinct types of conversations:

•Conversations to make sense should identify patterns in complex, incomplete, conflicting or ambiguous data

•Conversations to make choices among competing opportunities and threats should result in a small set of clear priorities to focus resources and attention

•Conversations to make it happen should solicit personal commitments to actions aligned with agreed priorities

•Conversations to make revisions treat market moves as experiments, analyse the findings and use these lessons to revise assumptions, priorities and commitments.”


Quote taken from “More than idle chatter” by Donald Sull and Ben Bryant in the Financial Times Series Mastering Uncertainty: Part 4: The search for common meaning April7, 2006. Discuss where in the ERM process each type of conversation is most relevant. What should be the balance between formal and informal conversations in the ERM process?

Place your order
(550 words)

Approximate price: $22

Calculate the price of your order

550 words
We'll send you the first draft for approval by September 11, 2018 at 10:52 AM
Total price:
The price is based on these factors:
Academic level
Number of pages
Basic features
  • Free title page and bibliography
  • Unlimited revisions
  • Plagiarism-free guarantee
  • Money-back guarantee
  • 24/7 support
On-demand options
  • Writer’s samples
  • Part-by-part delivery
  • Overnight delivery
  • Copies of used sources
  • Expert Proofreading
Paper format
  • 275 words per page
  • 12 pt Arial/Times New Roman
  • Double line spacing
  • Any citation style (APA, MLA, Chicago/Turabian, Harvard)

Our guarantees

Delivering a high-quality product at a reasonable price is not enough anymore.
That’s why we have developed 5 beneficial guarantees that will make your experience with our service enjoyable, easy, and safe.

Money-back guarantee

You have to be 100% sure of the quality of your product to give a money-back guarantee. This describes us perfectly. Make sure that this guarantee is totally transparent.

Read more

Zero-plagiarism guarantee

Each paper is composed from scratch, according to your instructions. It is then checked by our plagiarism-detection software. There is no gap where plagiarism could squeeze in.

Read more

Free-revision policy

Thanks to our free revisions, there is no way for you to be unsatisfied. We will work on your paper until you are completely happy with the result.

Read more

Privacy policy

Your email is safe, as we store it according to international data protection rules. Your bank details are secure, as we use only reliable payment systems.

Read more

Fair-cooperation guarantee

By sending us your money, you buy the service we provide. Check out our terms and conditions if you prefer business talks to be laid out in official language.

Read more