Explain the best approach to ensure successful implementation of ERM? Please provide a few different elements.
Please review Chapter 35 and answer the following questions.
At least 1 reference
CHAPTER 35 ERM at Malaysia’s Media Company Astro Quickly Implementing ERM and Using It to Assess the Risk-Adjusted Performance of a Portfolio of Acquired Foreign Companies
PATRICK ADAM K. ABDULLAH
Vice President, Enterprise Risk Management, Astro Overseas Limited
GHISLAIN GIROUX DUFORT
President, Baldwin Risk Strategies Inc.
This case study focuses on the implementation and use of enterprise risk management (ERM) to screen proposed investments, assess the risk-adjusted performance of a portfolio of foreign investments, and make key investment decisions at Astro Overseas Limited, the company responsible for all international investments (subsidiaries and joint ventures) for Astro Holdings Sendirian Berhad (herein known as “Astro”). We start by providing some background information on Malaysia, on its corporate governance code and practices, and risk management practices at Astro. We then describe how Astro Overseas Limited uses ERM to assess and filter potential investments, and subsequently, how ERM is implemented at successful investments. Finally, we explain how Astro Overseas Limited combines information from the risk profile and financial performance of each investment, and reflects the performance on a dashboard together with all other investments in its portfolio to make better risk/return investment decisions.
Situated between 2 degrees and 7 degrees to the north of the equator, Malaysia is a diversely populated federal democracy of 29.3 million1 Malays, Indians, …
When implementing an enterprise risk management system at the organizational level, there are several strategies or approaches that may be employed to ensure that it is a success. One of the approaches is to ensure that their support and goodwill from members of senior management. The members of senior management must be committed to the implementation process if any success is to be observed (Noah, 2017). The second approach is to ensure that the enterprise risk management system being implemented is communicated to all members of the workforce at the organizational level. Communication is key to the successful implementation of…………….
APA 308 words