Empowered enterprise risk management: theory and practice
"Surveys of corporate practices show that firms take risk management seriously and devote considerable resources to it. Enterprise Risk Management (ERM) offers firms a set of tools for holistic risk management, and its proponents claim benefits such as fewer surprises, better risk responses, an...
Gespeichert in:
| Beteiligte Personen: | , |
|---|---|
| Format: | Elektronisch E-Book |
| Sprache: | Englisch |
| Veröffentlicht: |
Chichester, West Sussex
Wiley
2021
|
| Schriftenreihe: | Wiley Corporate F&A
|
| Links: | https://ebookcentral.proquest.com/lib/fuberlin-ebooks/detail.action?docID=6424572 |
| Zusammenfassung: | "Surveys of corporate practices show that firms take risk management seriously and devote considerable resources to it. Enterprise Risk Management (ERM) offers firms a set of tools for holistic risk management, and its proponents claim benefits such as fewer surprises, better risk responses, and the elimination of various suboptimal practices associated with the traditional, silo-based approach to risk management. However, despite the many apparent benefits of ERM, many senior decision-makers remain unsure how to approach it. The ERM literature is currently sprawling, with a large number of different interpretations and sometimes complex-looking blueprints and guidelines, leading to a fear that ERM, if implemented in the wrong way, will just add a layer of bureaucracy to the organization without bringing real benefits. Available information tends to be in the form of textbooks covering all aspects of the topic without any particular focus on practical implementation, or of case studies which focus on one particular aspect or application rather than the broader picture. There is a gap in the market for a book which presents the core ideas and concepts of ERM in a simple, clear, start-to-finish narrative"-- |
| Beschreibung: | Description based on publisher supplied metadata and other sources |
| Umfang: | 1 Online-Ressource (xii, 212 Seiten) |
| ISBN: | 9781119700180 |
Internformat
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| 100 | 1 | |a Jankensgård, Håkan |e Verfasser |0 (DE-588)1261246225 |4 aut | |
| 245 | 1 | 0 | |a Empowered enterprise risk management |b theory and practice |c Håkan Jankensgård, Petter Kapstad |
| 264 | 1 | |a Chichester, West Sussex |b Wiley |c 2021 | |
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| 505 | 8 | |a Cover -- Title Page -- Copyright Page -- Contents -- Preface -- Chapter 1 Introduction to Empowered Enterprise Risk Management -- Why a theoretical perspective? -- Lessons from practice -- Chapter 2 Risk Defined -- Value-Creating Risk Management -- Risk Management -- Downside Risk Versus Upside Potential -- Subjective Probabilities -- Is Value the Right Metric? -- Risks Versus Risk-Taking -- Chapter 3 Risk Theory -- Silos and their consequences -- The silo effect on risk management -- A theory of ERM -- The information problem of risk management -- The agency problem of risk management -- Over-management of risk -- Undermanagement of risk -- ERM as a solution -- Chapter 4 Risk Culture -- Threats to Risk Culture -- Generalized optimism -- Inertia -- Short-termism -- Short-Termism: Causes and Consequences -- Corporate Cultures and Compensation Packages -- Creating the Behaviours That Support a Risk Culture -- Chapter 5 Risk Governance -- The Role of the Board of Directors -- Risk Ownership -- A More Granular Look at Risk Ownership -- Risk Governance to Support Integrated Risk Management -- The Three Lines of Defence -- Risk Management Independence -- Chapter 6 Risk Register -- What Should Go into a Risk Register -- Estimating Probability and Impact -- An Extended Risk Register -- Chapter 7 Risk Response -- Risk Mitigation -- Risk Transfer -- Risk Retention -- The Integrated View -- The Integrated Risk Response -- Chapter 8 Risk Appetite -- Why Risk Appetite Does Not Work -- How to Make Progress -- The Way Forward -- Risk Capacity -- Quantitative Example of Risk Capacity -- Chapter 9 Risk Budgeting -- Risk Budgeting and Quantitative Models -- Financial Models with Accounting and Analytical Integrity -- Performance-at-Risk -- Introducing Critical Thresholds -- Chapter 10 Risk Strategy -- Strategy Performance -- Strategy Formulation and Selection | |
| 505 | 8 | |a Core Strategic Risks and the Risk Radar -- Strategy Execution -- Strategic Interaction and Risk Management -- Chapter 11 Risk in Practice: The Case of Equinor -- The Erm Vision -- Early Developments in Erm -- Risk mapping in Equinor -- Risk governance in Equinor -- Risk culture in Equinor -- Risk optimization -- ERM and strategy -- Final thoughts -- Chapter 12 Concluding Remarks -- Revisiting the Erm Puzzles -- Bibliography -- Acknowledgements -- Index -- EULA. | |
| 520 | |a "Surveys of corporate practices show that firms take risk management seriously and devote considerable resources to it. Enterprise Risk Management (ERM) offers firms a set of tools for holistic risk management, and its proponents claim benefits such as fewer surprises, better risk responses, and the elimination of various suboptimal practices associated with the traditional, silo-based approach to risk management. However, despite the many apparent benefits of ERM, many senior decision-makers remain unsure how to approach it. The ERM literature is currently sprawling, with a large number of different interpretations and sometimes complex-looking blueprints and guidelines, leading to a fear that ERM, if implemented in the wrong way, will just add a layer of bureaucracy to the organization without bringing real benefits. Available information tends to be in the form of textbooks covering all aspects of the topic without any particular focus on practical implementation, or of case studies which focus on one particular aspect or application rather than the broader picture. There is a gap in the market for a book which presents the core ideas and concepts of ERM in a simple, clear, start-to-finish narrative"-- | ||
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Datensatz im Suchindex
| _version_ | 1818988668395716608 |
|---|---|
| any_adam_object | |
| author | Jankensgård, Håkan Kapstad, Petter |
| author_GND | (DE-588)1261246225 (DE-588)126124818X |
| author_facet | Jankensgård, Håkan Kapstad, Petter |
| author_role | aut aut |
| author_sort | Jankensgård, Håkan |
| author_variant | h j hj p k pk |
| building | Verbundindex |
| bvnumber | BV047688599 |
| classification_rvk | QP 300 |
| collection | ZDB-30-PQE |
| contents | Cover -- Title Page -- Copyright Page -- Contents -- Preface -- Chapter 1 Introduction to Empowered Enterprise Risk Management -- Why a theoretical perspective? -- Lessons from practice -- Chapter 2 Risk Defined -- Value-Creating Risk Management -- Risk Management -- Downside Risk Versus Upside Potential -- Subjective Probabilities -- Is Value the Right Metric? -- Risks Versus Risk-Taking -- Chapter 3 Risk Theory -- Silos and their consequences -- The silo effect on risk management -- A theory of ERM -- The information problem of risk management -- The agency problem of risk management -- Over-management of risk -- Undermanagement of risk -- ERM as a solution -- Chapter 4 Risk Culture -- Threats to Risk Culture -- Generalized optimism -- Inertia -- Short-termism -- Short-Termism: Causes and Consequences -- Corporate Cultures and Compensation Packages -- Creating the Behaviours That Support a Risk Culture -- Chapter 5 Risk Governance -- The Role of the Board of Directors -- Risk Ownership -- A More Granular Look at Risk Ownership -- Risk Governance to Support Integrated Risk Management -- The Three Lines of Defence -- Risk Management Independence -- Chapter 6 Risk Register -- What Should Go into a Risk Register -- Estimating Probability and Impact -- An Extended Risk Register -- Chapter 7 Risk Response -- Risk Mitigation -- Risk Transfer -- Risk Retention -- The Integrated View -- The Integrated Risk Response -- Chapter 8 Risk Appetite -- Why Risk Appetite Does Not Work -- How to Make Progress -- The Way Forward -- Risk Capacity -- Quantitative Example of Risk Capacity -- Chapter 9 Risk Budgeting -- Risk Budgeting and Quantitative Models -- Financial Models with Accounting and Analytical Integrity -- Performance-at-Risk -- Introducing Critical Thresholds -- Chapter 10 Risk Strategy -- Strategy Performance -- Strategy Formulation and Selection Core Strategic Risks and the Risk Radar -- Strategy Execution -- Strategic Interaction and Risk Management -- Chapter 11 Risk in Practice: The Case of Equinor -- The Erm Vision -- Early Developments in Erm -- Risk mapping in Equinor -- Risk governance in Equinor -- Risk culture in Equinor -- Risk optimization -- ERM and strategy -- Final thoughts -- Chapter 12 Concluding Remarks -- Revisiting the Erm Puzzles -- Bibliography -- Acknowledgements -- Index -- EULA. |
| ctrlnum | (ZDB-30-PQE)EBC6424572 (ZDB-30-PAD)EBC6424572 (ZDB-89-EBL)EBL6424572 (OCoLC)1228037864 (DE-599)BVBBV047688599 |
| dewey-full | 658.155 |
| dewey-hundreds | 600 - Technology (Applied sciences) |
| dewey-ones | 658 - General management |
| dewey-raw | 658.155 |
| dewey-search | 658.155 |
| dewey-sort | 3658.155 |
| dewey-tens | 650 - Management and auxiliary services |
| discipline | Wirtschaftswissenschaften |
| format | Electronic eBook |
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| id | DE-604.BV047688599 |
| illustrated | Not Illustrated |
| indexdate | 2024-12-20T19:26:14Z |
| institution | BVB |
| isbn | 9781119700180 |
| language | English |
| oai_aleph_id | oai:aleph.bib-bvb.de:BVB01-033072615 |
| oclc_num | 1228037864 |
| open_access_boolean | |
| owner | DE-188 |
| owner_facet | DE-188 |
| physical | 1 Online-Ressource (xii, 212 Seiten) |
| psigel | ZDB-30-PQE |
| publishDate | 2021 |
| publishDateSearch | 2021 |
| publishDateSort | 2021 |
| publisher | Wiley |
| record_format | marc |
| series2 | Wiley Corporate F&A |
| spelling | Jankensgård, Håkan Verfasser (DE-588)1261246225 aut Empowered enterprise risk management theory and practice Håkan Jankensgård, Petter Kapstad Chichester, West Sussex Wiley 2021 1 Online-Ressource (xii, 212 Seiten) txt rdacontent c rdamedia cr rdacarrier Wiley Corporate F&A Description based on publisher supplied metadata and other sources Cover -- Title Page -- Copyright Page -- Contents -- Preface -- Chapter 1 Introduction to Empowered Enterprise Risk Management -- Why a theoretical perspective? -- Lessons from practice -- Chapter 2 Risk Defined -- Value-Creating Risk Management -- Risk Management -- Downside Risk Versus Upside Potential -- Subjective Probabilities -- Is Value the Right Metric? -- Risks Versus Risk-Taking -- Chapter 3 Risk Theory -- Silos and their consequences -- The silo effect on risk management -- A theory of ERM -- The information problem of risk management -- The agency problem of risk management -- Over-management of risk -- Undermanagement of risk -- ERM as a solution -- Chapter 4 Risk Culture -- Threats to Risk Culture -- Generalized optimism -- Inertia -- Short-termism -- Short-Termism: Causes and Consequences -- Corporate Cultures and Compensation Packages -- Creating the Behaviours That Support a Risk Culture -- Chapter 5 Risk Governance -- The Role of the Board of Directors -- Risk Ownership -- A More Granular Look at Risk Ownership -- Risk Governance to Support Integrated Risk Management -- The Three Lines of Defence -- Risk Management Independence -- Chapter 6 Risk Register -- What Should Go into a Risk Register -- Estimating Probability and Impact -- An Extended Risk Register -- Chapter 7 Risk Response -- Risk Mitigation -- Risk Transfer -- Risk Retention -- The Integrated View -- The Integrated Risk Response -- Chapter 8 Risk Appetite -- Why Risk Appetite Does Not Work -- How to Make Progress -- The Way Forward -- Risk Capacity -- Quantitative Example of Risk Capacity -- Chapter 9 Risk Budgeting -- Risk Budgeting and Quantitative Models -- Financial Models with Accounting and Analytical Integrity -- Performance-at-Risk -- Introducing Critical Thresholds -- Chapter 10 Risk Strategy -- Strategy Performance -- Strategy Formulation and Selection Core Strategic Risks and the Risk Radar -- Strategy Execution -- Strategic Interaction and Risk Management -- Chapter 11 Risk in Practice: The Case of Equinor -- The Erm Vision -- Early Developments in Erm -- Risk mapping in Equinor -- Risk governance in Equinor -- Risk culture in Equinor -- Risk optimization -- ERM and strategy -- Final thoughts -- Chapter 12 Concluding Remarks -- Revisiting the Erm Puzzles -- Bibliography -- Acknowledgements -- Index -- EULA. "Surveys of corporate practices show that firms take risk management seriously and devote considerable resources to it. Enterprise Risk Management (ERM) offers firms a set of tools for holistic risk management, and its proponents claim benefits such as fewer surprises, better risk responses, and the elimination of various suboptimal practices associated with the traditional, silo-based approach to risk management. However, despite the many apparent benefits of ERM, many senior decision-makers remain unsure how to approach it. The ERM literature is currently sprawling, with a large number of different interpretations and sometimes complex-looking blueprints and guidelines, leading to a fear that ERM, if implemented in the wrong way, will just add a layer of bureaucracy to the organization without bringing real benefits. Available information tends to be in the form of textbooks covering all aspects of the topic without any particular focus on practical implementation, or of case studies which focus on one particular aspect or application rather than the broader picture. There is a gap in the market for a book which presents the core ideas and concepts of ERM in a simple, clear, start-to-finish narrative"-- Kapstad, Petter Verfasser (DE-588)126124818X aut Erscheint auch als Online-Ausgabe, EPUB 9781119700203 Erscheint auch als Druck-Ausgabe Jankensgard, Hakan Empowered Enterprise Risk Management Newark : John Wiley & Sons, Incorporated,c2021 9781119700159 |
| spellingShingle | Jankensgård, Håkan Kapstad, Petter Empowered enterprise risk management theory and practice Cover -- Title Page -- Copyright Page -- Contents -- Preface -- Chapter 1 Introduction to Empowered Enterprise Risk Management -- Why a theoretical perspective? -- Lessons from practice -- Chapter 2 Risk Defined -- Value-Creating Risk Management -- Risk Management -- Downside Risk Versus Upside Potential -- Subjective Probabilities -- Is Value the Right Metric? -- Risks Versus Risk-Taking -- Chapter 3 Risk Theory -- Silos and their consequences -- The silo effect on risk management -- A theory of ERM -- The information problem of risk management -- The agency problem of risk management -- Over-management of risk -- Undermanagement of risk -- ERM as a solution -- Chapter 4 Risk Culture -- Threats to Risk Culture -- Generalized optimism -- Inertia -- Short-termism -- Short-Termism: Causes and Consequences -- Corporate Cultures and Compensation Packages -- Creating the Behaviours That Support a Risk Culture -- Chapter 5 Risk Governance -- The Role of the Board of Directors -- Risk Ownership -- A More Granular Look at Risk Ownership -- Risk Governance to Support Integrated Risk Management -- The Three Lines of Defence -- Risk Management Independence -- Chapter 6 Risk Register -- What Should Go into a Risk Register -- Estimating Probability and Impact -- An Extended Risk Register -- Chapter 7 Risk Response -- Risk Mitigation -- Risk Transfer -- Risk Retention -- The Integrated View -- The Integrated Risk Response -- Chapter 8 Risk Appetite -- Why Risk Appetite Does Not Work -- How to Make Progress -- The Way Forward -- Risk Capacity -- Quantitative Example of Risk Capacity -- Chapter 9 Risk Budgeting -- Risk Budgeting and Quantitative Models -- Financial Models with Accounting and Analytical Integrity -- Performance-at-Risk -- Introducing Critical Thresholds -- Chapter 10 Risk Strategy -- Strategy Performance -- Strategy Formulation and Selection Core Strategic Risks and the Risk Radar -- Strategy Execution -- Strategic Interaction and Risk Management -- Chapter 11 Risk in Practice: The Case of Equinor -- The Erm Vision -- Early Developments in Erm -- Risk mapping in Equinor -- Risk governance in Equinor -- Risk culture in Equinor -- Risk optimization -- ERM and strategy -- Final thoughts -- Chapter 12 Concluding Remarks -- Revisiting the Erm Puzzles -- Bibliography -- Acknowledgements -- Index -- EULA. |
| title | Empowered enterprise risk management theory and practice |
| title_auth | Empowered enterprise risk management theory and practice |
| title_exact_search | Empowered enterprise risk management theory and practice |
| title_full | Empowered enterprise risk management theory and practice Håkan Jankensgård, Petter Kapstad |
| title_fullStr | Empowered enterprise risk management theory and practice Håkan Jankensgård, Petter Kapstad |
| title_full_unstemmed | Empowered enterprise risk management theory and practice Håkan Jankensgård, Petter Kapstad |
| title_short | Empowered enterprise risk management |
| title_sort | empowered enterprise risk management theory and practice |
| title_sub | theory and practice |
| work_keys_str_mv | AT jankensgardhakan empoweredenterpriseriskmanagementtheoryandpractice AT kapstadpetter empoweredenterpriseriskmanagementtheoryandpractice |