Enterprise risk management and its practical implementation

Andrey Y. Rogachev

Abstract

ABSTRACT

In this paper, the author explains how to build an effective enterprise risk management in practice and how enterprise risk management creates value for company stakeholders. In contrast to the existing finance literature, the practical implementation of an integrated approach to enterprise risk management is emphasized here. The author shows how the company develops its own risk management system step by step. The author also provides discussion on business benefits of implementing an enterprise risk management concept.