Approach to innovation and overall business practices

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Reference no: EM132893379

1. Enterprise Risk Management (ERM) is presented as a method to achieve objectives more effectively versus the traditional risk approach. Two of the most widely used ERM Standards/Frameworks are: 1) COSO II:2017 and ISO 31000:2018. Choose one that you will work with throughout the course and apply it to the case study.

a. Explain how using the chosen framework would help ART to improve their approach to innovation and overall business practices.

b. Demonstrate your explanation (above) with one example from the case that would be illustrative of the improvement that can be anticipated.

2. The potential for human ingestion of water processed by RIMOS was discussed as a risk, but was not indicated in exhibit 6.

a. With regard to this risk, what is the appropriate category and why? Should this risk become an event, discuss 2-3 loss exposures that ART would be subject to and why?

b. Discuss two techniques you recommend that would prevent losses or reduce risk frequency and severity. Apply the recommended technique to an example for each one.

Reference no: EM132893379

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