Reference no: EM131751090

Assignment: External Stakeholder

Write aone page response to each part, one page for each of the 4 parts, below:

You have learned about the importance of External Stakeholders as well as the impact and role they play in corporate governance. The purpose of this workshop is to link External Stakeholders with the role of Enterprise Risk Management through the view of industry regulators, credit rating agencies, shareholders/institutional investors, and the larger community in which organizations conduct business. This multi-part workshop requires you to think strategically about how enterprise risk management can improve engagement with external stakeholders.

Part I:

The COSO ERM framework has been revised to include a focus on the long-term strategy of the organization. In your own words, explain what steps you would take as an ERM professional to build a framework that goes beyond internal controls to improve external stakeholder confidence that your organization has a strong foundation to build value for the long-term?

Part II:

External stakeholders are a diverse class representing regulators, credit rating agencies, investors, and business partners. Build a case, in your own words, for how you will develop a ERM program to be responsive to each of these stakeholders and others not named.

Part III:

Enterprise risk is part of a larger community of internal professionals focused on governance, audit, IT, management and legal. Describe what strategies you will use to engage other leaders in the business to participate in enhancing ERM for external stakeholders?

Part IV:

Looking forward in 5 years, describe the person you will become and the role you will have played as a leader in business and the steps you plan to take to create your own career path in the organization of your choice. Don't need to relate to the class and the first three parts.