Enterprise Risk Management: ERM

  • Problem: Quite often decision as well as planning and control systems are established in enterprise, where risk considerations only play a minor role. Increasing competitions, successively more volatile markets, additional legal requirements etc. are steadily generating a more uncertain business environment. For successfully addressing these challenges it is essential also to include the relevant risks and potential changes into the different systems.
  • Research Method: The ERM-Framework from the Committee of Sponsoring Organizations of the Treadway Commission (COSO) provides a holistic management framework for directly integrating relevant risks and chances into the corresponding decision as well as planning and control systems related to different management levels, i.e. to the strategic, the financial and the operational management level.
  • Contribution:
    • Schwaiger: Holistisches Risikomanagement: Funktionsweise, Anwendung und Nutzen, Der Wirtschaftstreuhänder, 01/2015, Wien, 2015.
    • Schwaiger/Göstl: Risk-based Planning and Control Systems – Integration of different risk types into strategic, financial and operational management systems, 10th International Management Control Research Conference, Antwerpen, 2016.
    • Klier/Schwaiger: Integration von Risiko in Performance- und Compliance-Managementsysteme, WINGbusiness 1/21, Graz, 2021.
    • Schwaiger: Finanzwirtschaftliche Literalität als Basis einer risikoaversen Finanzgebarung in der IKB, in: Sicher – Besonnen – Innovativ, Innsbrucker Kommunalbetriebe (Hrg.), Innsbruck, 2022.