Question: A holistic approach Edit
Answer: Findings from various surveys
– An acknowledged need to improve risk management – It is the basic need of an
organization to minimize risk to the acceptance level.
– A recognition that a holistic approach is appropriate and preferable – Parts of business
are intimately interconnected and explicable only by reference to the whole so for risk
management a holistic approach is appropriate & preferable.
– ERM can improve overall capital management and thus enhance corporate value and
competitiveness – Through ERM it is less likely to capitalize money in unprofitable
source, so overall credit worthiness of an organization is increased.
– A variety of approaches to improving risk management – Risk management is not a
defined process so it is necessary to adopt various approaches to improving riksk
– There are still problems to overcome – No organization is free of errors so there lies
always some problems to overcome,therefore a holistic approach is needed for risk
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