Enterprise Risk Management - Revision history

Pietro at 13:26, 21 March 2022

2022-03-21T13:26:54Z

← Older revision		Revision as of 13:26, 21 March 2022
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	''~~writed~~ & developed by'' Pietro Boschetto		''written & developed by'' Pietro Boschetto

	== Abstract ==		== Abstract ==

Pietro: /* Company Case Example: LEGO Group */

2022-03-21T13:24:18Z

Company Case Example: LEGO Group

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	[[File: LEGO.png\|800 px\|thumb\|right\|'''Figure 4:''' LEGO]]		[[File: LEGO.png\|800 px\|thumb\|right\|'''Figure 4:''' LEGO]]




	= Company Case Example: LEGO Group =		= Company Case Example: LEGO Group =

Pietro: /* ERM Continuum */

2022-03-21T13:24:09Z

ERM Continuum

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	3.With the last step called '''Transform Stage''' we reach the real Holistic approach that characterises this Risk Management model. It is at this stage that a true definition of risks and opportunities in the various management areas is achieved, all based on policies that consider risk and regulations related to it. The focus of this stage is to improve ERM performance by rationalising and simplifying the control points within the different business areas of the company in order to replace error-prone manual controls.		3.With the last step called '''Transform Stage''' we reach the real Holistic approach that characterises this Risk Management model. It is at this stage that a true definition of risks and opportunities in the various management areas is achieved, all based on policies that consider risk and regulations related to it. The focus of this stage is to improve ERM performance by rationalising and simplifying the control points within the different business areas of the company in order to replace error-prone manual controls.

Pietro: /* ERM Continuum */

2022-03-21T13:23:59Z

ERM Continuum

← Older revision		Revision as of 13:23, 21 March 2022
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	3.With the last step called '''Transform Stage''' we reach the real Holistic approach that characterises this Risk Management model. It is at this stage that a true definition of risks and opportunities in the various management areas is achieved, all based on policies that consider risk and regulations related to it. The focus of this stage is to improve ERM performance by rationalising and simplifying the control points within the different business areas of the company in order to replace error-prone manual controls.		3.With the last step called '''Transform Stage''' we reach the real Holistic approach that characterises this Risk Management model. It is at this stage that a true definition of risks and opportunities in the various management areas is achieved, all based on policies that consider risk and regulations related to it. The focus of this stage is to improve ERM performance by rationalising and simplifying the control points within the different business areas of the company in order to replace error-prone manual controls.




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	[[File: LEGO.png\|800 px\|thumb\|right\|'''Figure 4:''' LEGO]]		[[File: LEGO.png\|800 px\|thumb\|right\|'''Figure 4:''' LEGO]]









	= Company Case Example: LEGO Group =		= Company Case Example: LEGO Group =

Pietro: /* Company Case Example: LEGO Group */

2022-03-21T13:23:44Z

Company Case Example: LEGO Group

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	[[File: LEGO.png\|800 px\|thumb\|right\|'''Figure 4:''' LEGO]]		[[File: LEGO.png\|800 px\|thumb\|right\|'''Figure 4:''' LEGO]]

Pietro: /* Company Case Example: LEGO Group */

2022-03-21T13:23:31Z

Company Case Example: LEGO Group

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	[[File: LEGO.png\|800 px\|thumb\|right\|'''Figure 4:''' LEGO]]		[[File: LEGO.png\|800 px\|thumb\|right\|'''Figure 4:''' LEGO]]

Pietro: /* Company Case Example: LEGO Group */

2022-03-21T13:23:19Z

Company Case Example: LEGO Group

← Older revision		Revision as of 13:23, 21 March 2022
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	[[File: LEGO.png\|800 px\|thumb\|right\|'''Figure 4:''' LEGO]]		[[File: LEGO.png\|800 px\|thumb\|right\|'''Figure 4:''' LEGO]]



	= Company Case Example: LEGO Group =		= Company Case Example: LEGO Group =

Pietro: /* ERM Continuum */

2022-03-21T13:22:34Z

ERM Continuum

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	[[File: LEGO.png\|~~900~~ px\|thumb\|right\|'''Figure 4:''' LEGO]]		[[File: LEGO.png\|800 px\|thumb\|right\|'''Figure 4:''' LEGO]]

	= Company Case Example: LEGO Group =		= Company Case Example: LEGO Group =

Pietro: /* ERM Continuum */

2022-03-21T13:22:06Z

ERM Continuum

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	[[File: LEGO.png\|~~700~~ px\|thumb\|right\|'''Figure 4:''' LEGO]]		[[File: LEGO.png\|900 px\|thumb\|right\|'''Figure 4:''' LEGO]]

	= Company Case Example: LEGO Group =		= Company Case Example: LEGO Group =

Pietro: /* Company Case Example: LEGO Group */

2022-03-21T13:21:10Z

Company Case Example: LEGO Group

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	= Company Case Example: LEGO Group =		= Company Case Example: LEGO Group =

	~~[[File: PAPA model.png\|400 px\|thumb\|left\|'''Figure 5:''' PAPA model for LEGO group]]~~<ref name = "LEGO"> Andy Marker, https://www.smartsheet.com/content/enterprise-risk-management-examples </ref>Probably one of the most known toys company all around the world , LEGO group, showed how an important journey in ERM can lead to the success of the Company Risk Management. LEGO Started to develop an Enterprise Risk Management approach since the far 2006 proving how much time and dedication takes to develop a good strategy. The project realised in LEGO can be split in 4 different main parts that define the company revolution:		<ref name = "LEGO"> Andy Marker, https://www.smartsheet.com/content/enterprise-risk-management-examples </ref>Probably one of the most known toys company all around the world , LEGO group, showed how an important journey in ERM can lead to the success of the Company Risk Management. LEGO Started to develop an Enterprise Risk Management approach since the far 2006 proving how much time and dedication takes to develop a good strategy. The project realised in LEGO can be split in 4 different main parts that define the company revolution:

	-'''Traditional management of financial, operational, and other risks'''		-'''Traditional management of financial, operational, and other risks'''
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	-'''Company prepares for uncertainty''' so that long-term strategies remain relevant and resilient under different scenarios.		-'''Company prepares for uncertainty''' so that long-term strategies remain relevant and resilient under different scenarios.

			[[File: PAPA model.png\|400 px\|thumb\|left\|'''Figure 5:''' PAPA model for LEGO group]]
	Following these steps LEGO developed its scenario modeling called PAPA allowing the company to face risk correctly. As an Acronym is important to mention for what meaning stands each letter:		Following these steps LEGO developed its scenario modeling called PAPA allowing the company to face risk correctly. As an Acronym is important to mention for what meaning stands each letter: