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Statistics Help

**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

management.

– 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

management. Edit

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