With All The Good Intensions: A Case Study of a Failure in Enterprise Risk Management
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چکیده
In today’s uncertain and unpredictable environment, business organisations are facing increasing risks, some even threatening their continual existence (Meulbroek, 2002). Numerous changes, such as, rapidly changing technology, climate change, globalisation and shorter product life cycles, have created an increasing degree of risk exposure for business organisations. Moreover, recent corporate scandals have instituted regulatory pressures to improve corporate governance and ERM by enhancing the effectiveness of internal controls (Miccolis and Shah, 2000; Ratnatunga and Alam, 2008; Lam and Kawamoto, 1997). While such environmental uncertainties do not mandate the adoption of risk management practices, they create societal pressure for the systematic evaluation of risk and adoption of good business practices.
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