Enterprise Risk Management

Introduction

This textbook demonstrates how Enterprise Risk Management creates value in strategic- and decision-making-processes.

Approaches and Examples

The author introduces modern approaches to balancing risk and reward, based on many examples of medium-sized and large companies from different industries.

Traditional Risk Management

Since traditional risk management in practice is often an independent stand-alone process with no impact on decision-making processes, it is unable to create value and ties up resources in the company unnecessarily.

Modern Approaches

Herewith, he serves students as well as practitioners with modern approaches that promote a connection between ERM and corporate management.

Application of ERM

The author demonstrates in a didactically appropriate manner how companies can use ERM in a concrete way to achieve better risk-reward decisions under uncertainty.

Theoretical and Psychological Findings

Furthermore, theoretical and psychological findings relevant to entrepreneurial decision-making situations are incorporated.

Course Development

This textbook has been recommended and developed for university courses in Germany, Austria and Switzerland.