When you think of an ERM program, one of the primary factors is to ensure that the risk profile related to the strategic elements of an organization/company are specifically assessed. As discussed earlier, the primary cause of business failures is typically the failure to identify and remediate strategic-oriented risks. Failures related to strategic elements were the root cause in around 86 percent of the companies whose capitalization reduced more than 50 percent during tested time period. The other elements were much lesser factor for a company’s demise and generally related to compliance, financial reporting, and operational activities. Let us therefore focus on the strategic elements critical for a ...
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