Research paper

Running Head: THE IMPLEMENTATION OF ENTERPRISE RISK MANAGEMENT 1

THE IMPLEMENTATION OF ENTERPRISE RISK MANAGEMENT 3

Title: THE IMPLEMENTATION OF ENTERPRISE RISK MANAGEMENT

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Bromiley, P., McShane, M., Nair, A., & Rustambekov, E. (2015). Enterprise risk management: Review, critique, and research directions. Long range planning, 48(4), 265-276.

For the manufacturing organizations to be able to operate accordingly, the enterprise risk management should be used hence making it easy for the set goals and objectives to be achieved. It is as a result of the effective implementation of the enterprise risk management whereby the organization will be able to identify the risks in the organization therefore coming up with mechanisms of ensuring that the risks are mitigated for the success of the business.

Brustbauer, J. (2016). Enterprise risk management in SMEs: Towards a structural model. International Small Business Journal, 34(1), 70-85.

The identification of the risk and threats plays important roles in ensuring that the obstacles to the growth and the development of the business are handled accordingly. Different organizations should be able to implement the enterprise risk management as it will ensure that a standardized reporting of the risks in the companies is facilitated.

Olson, D. L., & Wu, D. D. (2015). Enterprise risk management(Vol. 3). World Scientific Publishing Company.

The risks in the manufacturing companies should be realized in the shortest time possible as that will make it easy for the management of the businesses to come up with ways of ensuring that the businesses are not affected in a negative manner. For the risks to be addressed effectively, the implementation of the enterprise risk management ensures that the management of the manufacturing organization is able to understand them accordingly.

Grace, M. F., Leverty, J. T., Phillips, R. D., & Shimpi, P. (2015). The value of investing in enterprise risk management. Journal of Risk and Insurance, 82(2), 289-316.

The understanding of the risks by the management of the organization is helpful to the business due to the fact that the people are enabled to identify the right measures to address the issues. Moreover, the awareness of the risks brought about by the enterprise risk management should be used in ensuring that the employees are able to carry out operations which bring about positive impacts to the company.

Saeidi, P., Saeidi, S. P., Sofian, S., Saeidi, S. P., Nilashi, M., & Mardani, A. (2019). The impact of enterprise risk management on competitive advantage by moderating role of information technology. Computer Standards & Interfaces, 63, 67-82.

The effective implementation of the enterprise risk management is used in the determination of the life and the success of a business. In a situation whereby a business not able to identify the risks experienced, it becomes easy for the business to fail and therefore the management of the company should be able to come up with mechanisms of ensuring that the enterprise risk management is implemented in the best way possible.

Sweeting, P. (2017). Financial enterprise risk management. Cambridge University Press.

The enterprise risk management prepares a manufacturing company to face different risks. This plays significant roles in ensuring that the success of the business is achieved in the stipulated time. This is as a result of the reduced losses due to the reduced extra costs incurred by the business. The risks experienced by an organization should be mitigated through the creation of awareness to the employees.

Farrell, M., & Gallagher, R. (2015). The valuation implications of enterprise risk management maturity. Journal of Risk and Insurance, 82(3), 625-657.

To conclude, the implementation of the enterprise risk management should be done in an effective manner hence ensuring that the effective utilization of the resources in an organization is facilitated. When the resources are utilized accordingly, the business will be able to sustain itself hence achieving its objectives in the stipulated time. The focus and the perspective on risks in the company will be improved therefore ensuring that the risks are handled effectively.