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Foreword

Enterprise Risk Management is an evolving discipline focused on a complex and still imperfectly-understood subject. In such a situation, science is advanced best by collecting data from multiple, independent sites. A rich set of observations educates the field's scholars and practitioners and provides the foundation for them to develop descriptive and normative theories as well as codified best practices about the subject.

The authors – Fraser, Simkins, and Narvaez – have done an invaluable service to advance the science of enterprise risk management by collecting an extensive number of wonderful case studies that describe innovative risk management practices in a diverse set of companies around the world. This book should be an extremely valuable source of knowledge for anyone interested in the emerging and evolving field of risk management. We should be grateful to the editors and to each chapter author for expanding the body of knowledge for risk management professionals and academics.

Robert S. Kaplan

Senior Fellow, Marvin Bower Professor of Leadership Development, Emeritus Harvard University

Enterprise Risk Management Case Studies: An Introduction and Overview

JOHN R.S. FRASER

Senior Vice President, Internal Audit, and former Chief Risk Officer, Hydro One Networks Inc.

BETTY J. SIMKINS

Williams Companies Chair of Business and Professor of Finance, Oklahoma State University

KRISTINA NARVAEZ

President and Owner of ERM Strategies, LLC

Businesses, business schools, regulators, and the public are now scrambling to catch up with the emerging field of enterprise risk management.

– Robert Kaplan (quote from Foreword in Fraser and Simkins, 2010)

Most executives with MBA degrees were not taught ERM. In fact, there are only a few universities that teach ERM. So some business school graduates are strong in finance, marketing, and management theory, but they are limited in terms of critical thinking, business acumen, and risk analysis skills.

– Paul Walker[1]

  • [1] See the 2014 American Productivity & Quality Center Report.
 
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