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Fundamentals of Enterprise Risk Management by John J. HAMPTON

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CHAPTER 23RISK MANAGEMENT AND THE HISTORY OF ERM

RISK QUOTE: It is easy to fly into a passion. Anybody can do that, but to be angry with the right person to the right extent and at the right time and in the right way? That is not easy.

—ARISTOTLE, ANCIENT GREEK PHILOSOPHER

RISK QUOTE: You gain strength, courage, and confidence by every experience in which you really stop to look fear in the face. You are able to say to yourself, “I lived through this horror. I can take the next thing that comes along.”

—ELEANOR ROOSEVELT

ERM is the most recent development in the evolution of risk management. Like all modern ideas, it builds upon a foundation that started in the industrial age and moved into the knowledge age. We pause at this point to identify ...

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