Enterprise risk can come from all types of appearances and magnitude. It is important for the companies, to handle crisis, in a way to convert into an opportunity!!
Risks occur from disasters like natural calamities such as earthquakes, flash floods, ships getting into mid-sea typhoons, sudden regulatory changes, financial uncertainties like credit risks, accidents, pandemic etc.
At this time, enterprises have come across unbelievable challenges to their businesses in the form of discontinuity in the organizational activities, certain important customers lost forever, reduced revenues, loss of precious critical human resources etc.
The best solution for any organization is to apply Enterprise Risk Management (ERM) so that even when any unknown type of disruption hits the business / enterprise, even then the organizations can overcome such challenges.
Enterprise Risk Management (ERM) today is rapidly gaining acceptance and is protecting organisations and helping them to manage their businesses better, which in today’s environment is all the more a very essential activity.