Ques: I would like for you to use your favorite search engine and find 3 articles on Enterprise Risk Management that is not earlier than 2017. In your own words provide a summary of each article you read and include its main point(s) on the topic. You will need to cite your references properly in APA format.
Fellow student submission:Naveen:
Summary of Articles
The first article is by Tony K. Quon on Enterprise risk management, and firm performance and the main points discussed concerns the increasing volatility in the business world which has resulted into exposure of the inadequacy the fragmented approaches towards risk management. ERM incorporates a management process which is focused towards the identification as well as the assessment of collective risks which have impact on the firm value. This is done through the application of a wide strategy in the enterprise for the management of the risks hence; establishing an effective risk management strategy (Quon, 2012).
The second article is authored by Philip Bromiley, which is on Enterprise Risk Management: Review, Critique, and Research Directions. The article records that ERM gives a proposal that firm addresses all the risks in a comprehensive and coherent manner rather than individual management (Bromiley, 2015). The article gives various definitions from different authors on ERM. Therefore, ERM is a culture, processes or even the structure which are geared towards effective management of the impending opportunities as well as the adverse effects. ERM has the main objective, which is to add value to the firm hence, resulting in the use of standard corporate performance criteria.
The third article involves Enterprise Risk Management Practices and Firm Performance, the Mediating Role of Competitive Advantage, and the Moderating Role of Financial Literacy by Songling Yang. The interest in ERM has been growing although businesses are still facing various shocks in competitive environments (Yang, 2017). ERM ought to gear towards the minimization of both direct and indirect costs of financial distress and also ensure an improvement in the decision-making process.
please provide response in 150 words.