ERM two organization’s approaches to ERM similar

Generally, the Enterprise Risk Management system aims at assisting in the evaluation of the Risks and mitigation strategies employed by an organization. It is a vital instrument in the management of an institution (Kopia et al., 2017). In the case of Mars and the University of California Health systems, there are notable similarities. Both systems are used in the management of the institutions by evaluating the risks and mitigation strategies in the case of the University of California’s health system and aligning the goals and objectives in the case of Mars. This was based on the set principles of the organization.

The significant difference in the system is on the orientation whereby the UC’s system was risk-oriented in that it aimed at mitigating the risks that the institution may face. In the case of Mars, the system was goal oriented. The system aimed at achieving the set goals and objectives that were aligned with guiding principles of the organization. UC’s embraced technology in its operation that was not the case on Mars.

These differences would have been used to complement the systems. For instance, since UC embraced technology in its operation, mars could have employed the same strategy that would bolster its performance. The UC system would have borrowed the idea of aligning its systems to the set objectives. This would improve its efficiency, as it would be focused on achieving the set goals. ERMs should concentrate on the evaluation of risks the Mars system, would have focused on evaluating the risks prevalent. It is through this aspect that a mitigation strategy would always be available making the organization successful. UC’s system should also be flexible, as it is the case of Mars.