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One of our surveys showed that about 2 percent of the companies were willing to implement ERM in 2006, and this increased to around 12 percent in 2010. However, most of the companies that have implemented ERM have fewer than 250 employees. Only 2 percent of companies with more than 250 employees had implemented ERM by 2010. This shows that Polish companies are still at the beginning of the ERM journey.

The SLirvey in 2006 was based on the information obtained from about 100 companies and in 2010 the information was collected from about 300 managers. The ERM implementation was divided into six stages, where stage 0 means no ERM and stage 5 means ERM is an integrated system. The characteristics of all stages are described as follows:

• No functions, organizational stmctLire, and analytical tools are in place to be available for ERM, and there are no plans to implement ERM. (Phase 0: No ERM)

• There are some initial preparations toward ERM implementation. (Phase 1: ERM Introduction)

• There exist selected tools and instruments in the analytical area applied for ERM. (Phase 2: ERM Analytical Tools and Instruments)

• There are some functions, processes, procedrires, and tools implemented for ERM. (Phase 3: ERM Functions, Processes, and Tools)

• There is a mature infrastructure applied to risk management, but an integrated ERM system doesn't exist, which worild be heading toward the holistic approach. There are plans to develop existing infrastructure toward an integrated ERM system. (Phase 4: ERM Mature but No Integrated System)

• There is an integrated system of ERM. (Phase 5: ERM Integrated System)

In Exhibit 33.4, we display in graphic mode the stages of ERM implementation in Poland and their major characteristics.

Exhibit 33.5 reflects the advancement of ERM within the companies in Poland in 2006. About 42 percent of the enterprises were not applying any type of ERM, and none of them had an ERM integrated system. Only 2 percent of the enterprises had mature ERM systems, 23 percent were in the introductory phase, 8 percent had

Stages of ERM Development

Exhibit 33.4 Stages of ERM Development

Source: Author research, Z. Krysiak.

Stages of ERM Development in 2006 in Poland

Exhibit 33.5 Stages of ERM Development in 2006 in Poland

Source: Author research, Z. Krysiak.

available analytical tools, and 25 percent implemented ERM functions, processes, and tools.

Exhibit 33.6 reveals the advancement in ERM within the companies in Poland in 2010. We observed that from 2006 until 2010 there was significant progress in the advancement of ERM implementation. An integrated ERM system was present in 12 percent of the companies versus 0 percent in 2006. We observed as well that in 2010 more enterprises (4 percent) had switched to mature ERM, compared to the 2 percent in 2006. In 2010, about 40 percent of the companies still were not engaged in ERM, which is very close to that observed in 2006 (42 percent). The advancement in ERM was made basically by the group of companies that in 2006 had started the process.

Stages of ERM Development in 2010 in Poland

Exhibit 33.6 Stages of ERM Development in 2010 in Poland

Source: Author research, Z. Krysiak.

Appointment of CROs in Polish Companies

Exhibit 33.7 Appointment of CROs in Polish Companies

Source: Author research, Z. Krysiak.

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