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Mini-cases are a very powerful and highly useful resource in teaching ERM and can be easily utilized in short time periods such as a one-hour class segment. This part fills this gap in the education literature on ERM and includes six fictional minicases that have been developed by leading risk practitioners who draw from the wealth of their experiences in various applications of risk management.

Chapter 26, "Bim Consultants Inc.," is based on a real event in which a company was faced with an important strategic acquisition decision. All names and data have been changed for confidentially reasons. The purpose of the case is to illustrate the complexity of making strategic decisions and how greed and ego can cause a firm to change strategy that may put the business at risk. The author, John Fraser, Senior Vice President, Internal Audit, and former Chief Risk Officer of Hydro One Networks Inc., is also coeditor of this book. Fraser is currently an adjunct professor at York University, Canada, and a member of the faculty of the Directors College. He is a recognized authority on ERM and has written extensively on the topic.

Chapter 27, "Nerds Galore," is based on a fictitious small services company that appears to be on the verge of a major downturn. The focus of the case study is human resources-related risks, and the exercise is to conduct a risk assessment to aid in making the decision on whether to proceed with a major human resources strategy. This case study could be used as the basis for an actual risk workshop simulation with students role-playing various positions on the management team. Rob Quail, the author of this case study, draws on his extensive experience as Director of ERM at Hydro One Networks Inc., and provides an excellent mini-case to illuminate ERM applications.

Can a company have a successful ERM program that does not involve a key function, such as the legal department? And if not willing to participate, how do you convince this department to commit to ERM? The reader is challenged with tackling this crucial issue in Chapter 28, "The Reluctant General Counsel." This mini-case is about the implementation of ERM at a software company and illustrates the challenges faced when the general counsel of the company has reservations and is not willing to support the implementation. The author, Norman Marks, CPA, CRMA, has been chief audit executive of major global corporations for over 20 years, and is highly regarded in the global profession of internal auditing. Furthermore, he is a prolific blogger about internal audit, risk management, governance, and compliance.

Chapter 29, "Transforming Risk Management at Akawini Copper," describes how the approach to managing risk can be transformed and enhanced in a company. The case study is based on a hypothetical mining company, Akawini Copper, that has recently been acquired by an international concern. It draws on the practical concepts of ISO 31000 to show how a weak approach to risk management can be enhanced to be more robust and comprehensive by following a logical framework and transformation plan. The author, Grant Purdy, has worked in risk management for more than 35 years, across a wide range of industries and in more than 25 countries. Grant is coauthor of the 2004 version of AS/NZS 4360 and also of AS/NZS 5050, a standard for managing disruption-related risk, and has also written many risk management handbooks and guides.

Richard Leblanc, PhD, who is a governance lawyer, certified management consultant, and Associate Professor of Law, Governance, and Ethics at York University, draws on his extensive experience in board of director effectiveness when writing Chapter 30, "Alleged Corruption at Chessfield: Corporate Governance and the Risk Oversight Role of the Board of Directors." Richard has advised regulators on corporate governance guidelines, and, as part of his external professional activities, has served as an external board evaluator and governance adviser for many companies, as well as in an expert witness capacity in litigation concerning corporate governance reforms. This case deals with the inner workings of a large organization's board of directors, including allegations of alleged corruption and self-dealing, and provides the reader with a captivating application of risk management shortcomings in governance and internal controls.

Diana Del Bel Belluz, president and founder of Risk Wise, Inc., draws on her experience in operational risk when writing Chapter 31, "Operational Risk Management Case Study: Bon Boulangerie." This mini-case provides the opportunity for students to discuss and present their knowledge of operational risk. It describes the challenges and opportunities faced by a fictional bakery business in a small city. The bakery's owner has decided to expand the business for greater rewards, but in doing so is faced with a number of operational challenges. Additional information on the steps of operational risk management is available in Chapter 16 in Fraser and Simkins (2010). Diana has many years of consulting experience in ERM, and advances the practice of ERM through her thought leadership as an educator, conference organizer, speaker, and author of ERM resources.

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