Benefits of Implementing Enterprise management



Benefits of Implementing Enterprise management (ERM) in Higher Learning Institutions a Case Study of Massachusetts Institute of Technology



Enterprise management代写 Benefits of Implementing Enterprise management in Higher Learning Institutions a Case Study of Massachusetts Institute of Technology

Annotated Bibliography 1

Like other organizations, Higher Learning Institutions face significant challenges in their attempt to navigate in the volatilities of the economy. Some have failed to withstand the pressure and exited while others have devised survival strategies. Those that have learned the art market forces have established risk management and insurance department as a center for risk management. Various reasons that pressure these organizations to implement Enterprise Risk Management. There is fierce competition for faculty, students, staff, and financial institutions.

Governments, public, private, and media, have intensified the scrutiny of universities and colleges. Besides, there external pressures for the institutions to increase productivity, responsiveness, and accountability while reducing costs. The presence of advanced technologies that require high investments and human resources necessitates risk management. The external environment has become highly dynamic and hence the use of traditional approaches has become risky and strenuous to institution resources. Enterprise management代写**范文

Most critical is the increase in competition and the need for these organizations to remain competitive. There is a whole range of forces for the implementation of Enterprise Risk Management. Thus, the implementation of ERM in higher learning institutions follows are well-defined ERM concept map to realize the benefits of ERM.

Annotated Bibliography 2  Enterprise management代写

Band, I., Engelsman, W., Feltus, C., Paredes, S. G., & Diligens, D. (2015). Modeling Enterprise Risk Management and Security with the ArchiMate®. Language, The Open Group.

The authors wrote a white paper analyzing sample ERM and security frameworks and methods so as to come up with a generalized model of risk management and security concepts. The team analyzed frameworks including “Casualty Actuary Society (CAS) ERM overview, the Committee of Sponsoring Organizations of the Treadway Commission (COSO) framework, Factor Analysis of Information Risk (Open FAIR) and the Sherwood Applied Business Security Architecture (SABSA).” The paper used the ColdHard Steel case and based on the results used ArchiMate 2.1 language for security enhancement. It also provides a detailed definition of ERM and security The Committee of Sponsoring Organizations of the Treadway Commission (COSO). Enterprise management代写**范文

This white paper is very critical in the description and analysis of ERM in regard to the concept map and its adoption in higher learning institutions. The source sets a pace from which all the other sources will be based. That is, it introduces the concept of ERM and security as well as the theme of the ERM map. The authors used a collection of trusted and reliable sources in making their analysis and conclusions. Thus, the paper information is reliable for writing this paper.

Annotated Bibliography 3  Enterprise management代写

Bromiley, P., McShane, M., Nair, A., & Rustambekov, E. (2015). Enterprise risk management: Review, critique, and research directions. Long-range planning, 48(4), 265-276.

The authors argue out the importance of ERM as a new domain of research in the bid to understand organizational risk management. The team used a critical review of ERM to identify existing gaps and limitations that need scholarly research. The article found ways that scholars in collaboration with management can participate in the development of ERM research.

The article informs on the need for ERM in organizations as well as the role researchers and management have in the development of risk management. It takes a holistic look at the implementation of ERM in institutions and critiques how ERM has been effective. Also, the authors acknowledge ERM is a young field that does not have much research and hence it is an objective call to scholars and administrators to work together in the discovery of models and frameworks for implementing ERM. These make source essential in this research. Enterprise management代写**范文

In every research, there are works of literature review. The source will help the researcher to identify a research gap or the need to carry to do research on the benefits of ERM in higher learning institutions. It supports the argument that ERM is an emerging field of management as attested by the authors. Also, the article will be useful in the emphasis on the importance of risk management and the management roles at implementation.

Annotated Bibliography 4  Enterprise management代写

Hayne, C., & Free, C. (2014). Hybridized professional groups and institutional work: COSO and the rise of enterprise risk management. Accounting, Organizations, and Society, 39(5), 309-330.

The authors introduce enterprise risk management as an emergency yet a dominant field in management. They elaborate on the rise of ERM from an unsuccessful traditional risk management approach. The article views ERM as the most robust and dynamic way of risk identification, control, and monitoring. The research was based on numerous analyses of interviews and secondary data sources.

They revealed various institutional work including “theorizing, rhetorical appeals, mythologizing, constructing normative networks and educating.” The implementation of ERM was influenced by other firms that had already adopted it and were successful and hence used as benchmarks. The authors suggested that COSO was successful in creating a connection between disruption, creation, and maintenance in risk management. They view the work of COSO as revolutionary in initiating innovations in accounting. Enterprise management代写**范文

The source is key to laying the foundation of the argument on the benefits of ERM in higher learning institutions.

It gives this research a context on which it will be based. The ERM concept map was discussed by COSO and has continued to be used in the management of modern risk especially in technologies and finance. Other sources in this research will be borrowed from this and hence give a richer background on the benefits that accrue to modern institutions that adopt ERM over those that continue to use traditional approaches in risk management.

Most importantly, the authors based their research and conclusion on real data and secondary sources and hence make its information reliable. Thus, this research intends to utilize it in laying a general background about ERM in risk management.

Enterprise management代写
Enterprise management代写

Annotated Bibliography 5  Enterprise management代写

Mikes, A., & Kaplan, R. S. (2014, October). Towards a contingency theory of enterprise risk management. AAA.

The author interrogates the maturity of ERM through empirical studies of its current implementation in management. The research is based on the evidence collected on ERM usage in various fields. The article aims to close a gap in research that there exist few empirical studies. The authors found them inadequate and incomplete on their scope of ERM. The research involved a ten-year field project that involved 250 interviews with immediate stakeholders.

The team did research based on the view that ERM is growing and hence there are potential design parameters and variations in ERM that organizations use in the implementation. The paper also outlines contingencies various ERM practices. Overall, the article outlines a nuance but a fundamental contingency framework. Enterprise management代写**范文

The article essential in defining the scope and contingency variables in ERM.

It forms the foundation to better understand modern ERM mix in a dynamic environment. The insight offered in this article helps in connecting the need for ERM in the organization by the effort to understand the remedy for which it was intended. These features make the article reliable. Furthermore, the authors were objective and accepted the fact that their study is limited and more research is needed to connect the contingent variables with specific ERM practice. The source will reinforce the definition of ERM in a general context. It will also be used to develop the theme of ERM in institutions of higher learning. Enterprise management代写**范文

The article introduces the concept of risk management which is the main focus of this research. It is helpful because it discusses the contingencies in enterprises and the use of various management strategies towards achieving a risk-free or controlled organization. It also expounds on the understanding of ERM as a recent field that is growing and hence recommends the need to have more research to connect different risks with its implementation. The source will put the research in the context of the development of a risk management framework.

Annotated Bibliography 6  Enterprise management代写

Kim, Y., & Vonortas, N. S. (2014). Managing risk in the formative years: Evidence from young enterprises in Europe. Technovation, 34(8), 454-465.

The article explores the application of enterprise risk management in a young and small enterprise. The research views the ERM as the effort for survival for small businesses. The authors used datasets derived from thousands of small enterprises from 10 European countries and 18 sectors. The research found that all rational firms engage in risk management strategies especially due to the technology developments and complexity in operations. Small businesses use both formal and informal networks to manage financial risks. Enterprise management代写**范文

Market risk is believed to challenge small firms because it is not amenable to internal risk management strategies. Unlike other firms, high-tech companies engage more extensively in risk management. They also found that educated managers and owners tended to make more networks and were more dependent on internal risk management.

The source gives detailed risk management.

Though it focuses on young small enterprises, the same principles apply in large organizations like learning institutions. It narrows to the main areas that most organizations take risk management as critical. As such, define the departments of sections in the firm that are likely to leap more or lose more if ERM is implemented or not. These observations turn the source integral in discussing the benefits of implementing enterprise risk management in institutions of higher learning. Enterprise management代写**范文

The objectivity of the researchers has rendered the research reliable in this research. The resource will be used to reinforce the argument of the paper that ERM has benefited other enterprises and so it can benefit higher learning organizations like the Massachusetts Institute of Technology.

The article is an evidence-based use of risk management in an organization. Research on the benefits of ERM in higher learning requires strong literature support so as to arrive at an informed conclusion. Besides, it offers deeper insight into risk management related well with other sources. The findings develop an intuition on the role of education in risk management and which can be subjected to more research.

Annotated Bibliography 7  Enterprise management代写

Lundquist, A. E. (2015). Enterprise Risk Management (ERM) at US colleges and universities: Administration processes regarding the adoption, implementation, and integration of ERM.

The author’s central idea is to find out the strategies and processes used by universities and colleges administrations in the adoption, implementation, and integration of ERM. In the opinion of the author, institutions are higher learning have differing approaches to the adoption and implementation of ERM. The administration makes various decisions regarding ERM and which are affected by external forces as well as the institutional culture.

According to the author, higher education has unique characteristics that differentiate it is with other organizations in terms of governance structure, decision making, and adoption and implementation processes and ERM frameworks. A such, there are little empirical researches about ERM implementations higher education. The research findings revealed that higher learning institutions implement ERM based on either by the higher management recommendations or command or in response to the occurrence of an event or both. Enterprise management代写**范文

Most institutions followed four levels including forming, developing, establishing and integrating. However, these levels do not follow linear progression but are organized around a university academic schedule. The author also found that most administrators saw ERM as essential as opposed to practitioners.

The article informs the ERM concept map on which its adoption is based.

The author identified four stages in the implementation of ERM in Universities and colleges including formation, development, establishment, and integration. It is an empirical evaluation of the main steps different institutions take in risk management. Most importantly, the article conforms to the whole theme of benefits of implementation of ERM in higher learning institutions in the context of the ERM concept map. The data was derived from reliable sources. The author was objective and made a conclusion based on the interpretation of data rather than personal opinion. Therefore, the source will be used to argue out the concept map for MIT. Enterprise management代写**范文

A concept map is a generalized approach that organizations can follow in the implementation of ERM. Higher learning institutions are unique in how they adopt ERM compared to other organizations. As a result, universities and colleges can follow different routes in their implementation. Fortunately, through this research, the author has derived a general approach through which many institutions of higher learning use to adopt ERM in their structure. The source will be used to draw applicable concept maps for MIT risk management.

Enterprise management代写
Enterprise management代写

Annotated Bibliography 8  Enterprise management代写

Ariff, M. S. B. M., Zakuan, N., Tajudin, M. N. M., Ahmad, A., Ishak, N., & Ismail, K. (2014). A framework for risk management practices and organizational performance in higher education. Review of Integrative Business and Economics Research, 3(2), 422.

The article discusses the practice in risk management in institutions of higher learning. In the context of Malaysian universities, the paper view ERM as the most effective framework of risk management. Therefore, using literature review, COSO’s ERM framework and ISO  31000:2010 to evaluate ERM needs and effectiveness in improving organizational performance. They found that those organizations that have implemented systematic risk management systems perform better compared to those which do not. They found a need for further research to link specific risk management practices and how they impact the organizations. Overall, they proposed a framework for use in institutions of higher learning.

The authors contribute to the whole concept of ERM used in this paper. Enterprise management代写

More so, it adds on the conventions and more detailed concept maps which can be used as an implementation of ERM at Massachusetts Institute of Technology. The key elements of concept map include “risk governance, risk policy, risk context, risk treatment, communication, and consultation, risk  identification, risk analysis, risk evaluation, and monitoring and review of the risk management process, tools and technology, and continuous improvement of the risk management practices.”

The source uses critical analysis of literature other secondary data to arrive at its conclusion. Thus, authors refrained from giving personal opinion and reported objective results that can be used to inform the field. The article together with insight from other sources will help formulate the most suitable ERM framework for MIT.

A concept map that will be used in this research will not be subjective creation but rather an objectified framework derived from deep analysis of literature and research. This is why this source is important. It has given the basis, together with other sources, on which to derive the ERM framework.

Annotated Bibliography 9  Enterprise management代写

Baxter, R., Bedard, J. C., Hoitash, R., & Yezegel, A. (2013). Enterprise risk management program quality: Determinants, value relevance, and the financial crisis. Contemporary Accounting Research, 30(4), 1264-1295.

The article evaluates the best practices for implementing ERM in the organization and whether the quality of ERM determines the performance of the organization. They used a hypothesis that the ERM framework developed by accounting professionals is critical in examining the sources of risks. The research used literature on management control systems and data on ERM quality rating as provided by Standard & Poor. They found a correlation between the quality and complexity of ERM determines, resources available, and organizational performance.

Thos companies with robust controls had well-performing accounting. Also, the markets were responsive to management controls made by ERM and hence those firms with quality ERM indicated improved performance. Notably, prior to the market collapse, the results show that there was a correlation between ERM quality and market performance. Nonetheless, those firms with a robust ERM recorded higher performance even at the times of economic downturn.

Key performance measures Enterprise management代写

This research needs to argue out the key performance measures for ERM as well as the relationship between the quality of its implementation against the performance of higher learning institutions. As such, the source is critical as evidence of the ERM framework in practice and how it affects the performance of organizations. Besides, the source will add to the ERM concept map to be derived from the findings of this research. This information is reliable since the researcher used verified literature databases. Enterprise management代写**范文

This research paper is about implementing quality ERM for better results. The article empirically answers the question of the need to have dynamic ERM. It will be used as a metric for the adoption of ERM at MIT. Besides, it will constitute one of the rich literature in the review of the ERM framework. Most importantly, the creation of a link between market and risk controls is an insightful understanding of how the external environment of an organization is affected internal best management practices in regard to risk management.

Annotated Bibliography 10  Enterprise management代写

Grace, M. F., Leverty, J. T., Phillips, R. D., & Shimpi, P. (2015). The value of investing in enterprise risk management. Journal of Risk and Insurance, 82(2), 289-316.

The article supports that it is critically important for organizations to invest in ERM for operations efficiency and effectiveness. It aims to answer the question of the value that accrues to the institutions of higher learning for adopting ERM framework in risk management. The researchers used surveys on best practices in risk management to understand the ERM impact on the performance of firms, especially in the insurance industry. Enterprise management代写**范文

The article found that those firms with established risk management departments were likely to perform higher and better in the control, avoidance, and mitigation of risks. Risk management constitutes risk officers and committees under the leadership of chief financial security officers. The structure of the risk management team depends on the organizational structure and field of operations. They also found that those firms that accept the existence of risk in daily operations have higher efficiency and performance. The various risk management model used such as the capital model has greater implications for the performance of insurance firms.

The article rationalizes the need for firms to invest in ERM.  Enterprise management代写

That is key to this research. It is directly related to the theme of the benefits of ERM. It also contributes immensely to the understanding of the ERM concept map by including the key stakeholders including chief risk officer and risk management committee. The researchers conducted empirical research using surveys targeting the insurance industry. The findings make the source useful for this research. It connects well with other sources in a common topic of this paper.

Every investment a business or non-profit organizations make must have value either in the short-term or long-term. The article uses research to prove the value of investments in ERM by insurance companies. These are the same values that higher learning institutions get for adopting a quality ERM framework and support. Thus, it will be used in arguing out the role of the risk management committee in the concept map.

Annotated Bibliography 11  Enterprise management代写

AlHadi, A., Hasan, M. M., & Habib, A. (2016). Risk committee, firm life cycle, and market risk disclosures. Corporate Governance: An International Review, 24(2), 145-170.

The researchers intended to find out the importance of separate risk committees and how they relate to the increase in efficiency of risk management. The article argued the centrality of the risk management committee and risk committee features as key determinants of firm market success. They also investigate how the risk committees are affected by prevailing risks at different levels of a firm’s lifecycle.

The study used 677 observations of financial firms from the Gulf Cooperation Council (GCC) countries. Those firms with defined risk committees have higher performance rates due to higher market risk disclosure compared to those that lack it. The need for risk committees is critical at the maturity stage of the firm. Notably, the education level, size of risk committee determined the level of success in risk disclosures.

The research complement the sources used in this paper. Enterprise management代写

It adds value in understanding the importance of a separate risk committee. The topic is a reinforcement of the role of risk management committee ERM concept map. In the map, the committee is the core of where all the other functionalities of ERM are derived. The study findings were based on real data which makes the whole research objective and hence useful in this paper.

Management is key to the adoption of ERM in higher learning institutions. The findings of the value of the risk committee are what make this source useful in this paper. Also, it provides evidence that the committee needs a higher level of educational qualifications and enough size relative to organization size and structure. As such, the source will be used to justify the risk committee and other aspects associated with its efficiency.


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