How Companies Should Be Leveraging ERM Principles to Manage COVID-19 Risks
The global COVID-19 (coronavirus) pandemic has majorly impacted organizations of all sizes and industries by targeting their most important asset, human capital. Mark Beasley, professor of accounting and director of the Enterprise Risk Management (ERM) Initiative, recently released his research paper, How to Leverage ERM Principles to Better Respond to COVID-19-Related Risks, in ERM Professional Insights on how the foundational ERM principles can assist companies affected by the coronavirus pandemic.
Beasley’s research covers how businesses should pinpoint risks to deal with the COVID-19 crisis today to build for the future. He insists that companies need to analyze risks associated with coronavirus with an organization-wide approach.
“To make progress, business leaders have to find a way to rapidly obtain a top-down, more holistic view of the risks triggered by COVID-19 from a big picture, enterprise-wide perspective so they can determine which risks need to be managed first as they address the rapidly evolving crisis,” said Beasley.
Read Beasley’s research paper online here.