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| Services » Corporate Governance and Risk Consulting Services |
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| Enterprise Risk Management |
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It is a known fact that as organizations grow the element of risk in business increases in direct proportion. Successful companies manage these risks/ exposures effectively to emerge as leaders. Quite often Risk Management is seen as a separate activity and not embedded in operations. This creates an artificial environment within the entity that forces all employees to 'adhere' instead of 'practice' risk management in their sphere of activity.
Many organizations are also grappling with the term 'Enterprise Risk Management' and how it is different from Risk Management. The enterprise element in Risk Management is elusive.
We at BlueRidge believe that Enterprise Risk Management is more an 'Organizational Culture' and this culture supports the framework / structure of Risk Management to effectively operate. Enterprise Risk Management is a holistic approach to risk management, moving away from a silo'd functional approach.
We believe that moving from a functional approach to an Enterprise approach to risk management has several distinct advantages from a strategic, operational, cost, compliance and reporting standpoint. A well-synchronized cross-functional decision making process keeping in perspective the enterprise risks would lower the chances of failures, help manage the risks better, optimize cost, facilitate compliance to laws and regulations and ensure accurate and timely financial reporting to stakeholders.
To understand how BlueRidge can assist your enterprise please contact :
Giridhar - Giridhar@blueridge.co.in
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