The Ethics Of Enterprise Risk Management - 818 Words

â€Å"Enterprise risk management views all risks to the firm as subject to management and control† (Fraser Simkins, 2010, p. 351). As we have learned, Enterprise Risk Management has three primary principles, which are: ensure organizational survival, provide social responsibility, and increase the organization’s value, while engaging employees in performance and maintaining their well-being (Bethel, 2016). In its simplest terms, legal risk equates to financial loss (Smith, 2008). In researching for this assignment, I read several articles relating to the subject matter and remarkably, each article addressed the topic in very similar ways. Fundamentally, the articles established a framework for identifying and addressing issues that could rise to the level of risk. Similarly, the reading assignment, lecture, and articles all stated that while risk cannot be avoided it can be subdued or minimized if dealt with correctly and timely. Further, the lecture and articles stated some risk is good for business operations, but organizations are charged with determining whether the risk is worthy of the investment. What are the challenges for today’s Human Resources professionals? Unfortunately, there is a shortage of critical skills talent for some key roles within many organizations (Jacobs, 2013). Indeed, there is a percentage of workers who cannot find gainful employment, but sadly many do not have the skills employers are looking for or need to maintain and exceed theirShow MoreRelatedManagement Accounting : Code Of Ethics1588 Words   |  7 PagesManagement Accountants’ Code of Ethics A code of ethics is necessary for the success of any type of business whether it be a professional service organization such as a law firm or an accounting firm, a manufacturing company such as Chrysler, Toyota, Apple or Microsoft, or a retail company such as Walmart or Target. 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