Enterprise risk management: A critical tool for strategic decision-making

Recently, there has been an intensifying interest in enterprise risk management, or ERM, as a tool to enable organizations to consider the potential impact of all types of risks on their processes, products, services, activities and stakeholders. In short, an effective ERM approach can help an organization make the most efficient use of its capital. By determining what growth opportunities to fund, and what potential risks need budget support, an organization can better ensure it will meet its business objectives today and into the future.