Enterprise Risk Management and its Importance to Businesses

The Jamaica Stock Exchange & You

According to cgma.org, “Enterprise risk management (ERM) is the process of identifying and methodically addressing the potential events that represent risks to achieving strategic objectives or opportunities to gain competitive advantage. Risk management is an essential element of any organisation's strategic management and should be embedded in the ongoing activities of the business. The fundamental elements of ERM are the assessment of significant risks and the implementation of suitable responses. With that said, why is ERM important for the business? This week’s episode explores this with David Hall, Managing Director, DC Consultants and Associates.

Some of what we looked at were:

• The difference between risk management and enterprise risk management
• How do you implement enterprise risk management?
• Who is responsible for the enterprise risk management
• Benefits of ERP to businesses

And lots more.

Connect with David Hall:

Email: [e-mail]

Thanks for listening to The Jamaica Stock Exchange & You, a podcast of the Jamaica Stock Exchange with your host, Heneka Watkis-Porter!

Send us your feedback at [e-mail] or on social media @jamstockex. In the meantime, follow this podcast on your favourite podcast app. The Jamaica Stock Exchange & You is produced by Heneka Watkis-Porter of The Entrepreneurial You podcast and now TV show aired on Business TV, you can find out more at henekawatkisporter.com to hear leadership and entrepreneurship lessons from guests like Zachary Harding, Les Brown, Richard Branson, Marcia Forbes, Seth Godin and more. I am also on social media at Heneka Watkis-Porter. That’s all for now, see you next week! Remember, as Warren Buffet says, "Rule number one: Don’t lose money. Rule number two: Don’t forget rule number one.”