Reference no: EM132528081

Question: The first step in creating an effective enterprise risk management system is to understand the qualitative distinctions among the types of risks that organizations face.

Select one of the following types of risk, identify one or two specific things that could go wrong with this type of risk, and explain the impact they could have on an organization.

• Market risk

• Strategic risk

• Compliance risk

• Operational risk

• Reputational risk

• Financial risk

Respond substantively to at least two other students' posts. Comment with a strategy for dealing with the risks identified in your peer's original post.

Please remember to include at least one credible scholarly reference with your initial post!