Managing Business Risk: An Organization-Wide Approach to Risk Management

Organizations have always assessed and managed risk, but until recently this function has been isolated and little understood. Now risk management is moving into a broader spotlight, taking its rightful place beside strategic and operations management. This extensive overview explains the fundamentals and highlights the changing role of risk management in:

* Managing financial and technological risks--and minimizing catastrophic risks * Limiting corporate exposure to legal liability * Funding disability, retirement, and other human resource issues.

Aimed at specialists and non-risk managers alike, MANAGING BUSINESS RISK also identifies special risk management considerations for specific types of businesses and industries. It presents a framework called Organizational Risk Management (ORM), which facilitates an integrated, money-saving, company-wide approach. Readers can use ORM to systematically support the corporate mission, assess and control risk, fund the purchase of insurance and other risk management tools, and finance corporate losses.

Peter C. Young, Ph.D. (Minneapolis, MN) is the E. W. Blanch, Sr. Chair in Insurance at the University of St. Thomas Graduate School of Business. Steven C. Tippins, Ph.D., CLU, ARM (Chicago, IL) is the Rolf A. Weil Professor of Risk Management and Insurance at Roosevelt University.