CHAPTER 5

Implementing ERM

Importance of Implementation

One of our academic colleagues once described ERM as nothing but a bunch of “blah, blah, blah.” Apparently, they were not so impressed with the academic merits of ERM, despite ERM being one of the more popular courses for students in our executive programs and even though an increasing number of students are choosing it as a profession. The issue we believe that our academic colleague was referring to was that on the surface the entire field seems to be so much common sense. We have some respect for this view, but as we all know, common sense is not at all that common. When it comes to ERM implementation, it takes more than “blah, blah, blah,” and more than just common sense. It takes attention ...

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