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- Title
ERM Myths & Truths.
- Authors
KIMMEL, BART W.; ANDERSON, GREGG E.
- Abstract
This article focuses on enterprise risk management (ERM). The purpose of ERM programs is to allow management to understand the risk environment and make decisions aimed at optimizing performance within that environment. According to Hans Læssøe of LEGO Group, an ERM program showed that the firm was operating more conservatively than necessary. LEGO expects total sales for 2010 to double those of 2005 amid a fully implemented ERM-inspired risk strategy. Particular focus is given to myths surrounding these programs, along with the benefits and value of a fully integrated ERM program to businesses. Also included are information on keys to overcoming the challenges of implementing ERM.
- Subjects
DENMARK; RISK management in business; DECISION making; FINANCIAL performance; LAESSOE, Hans; LEGO Gruppe (Denmark); SALES forecasting
- Publication
Financial Executive, 2010, Vol 26, Issue 10, p48
- ISSN
0895-4186
- Publication type
Article