Enterprise Risk Management for Dummies
Issue #22
September 4, 2007
Being a fan of risk management, I was pleased to find a new book on the subject written in an easy to understand format. Enterprise Risk Management for Dummies is actually a booklet that presents what can often be complex information in a relaxed and informal manner. In a short 90 minute read, the books forty-four pages present compelling reasons why organizations should adopt ERM, and reviews the five step process for its implementation.
Simplifying the process
Most books on this subject go into so much detail about the ERM process that it seems impractical to implement. With too many alternatives plus confusing analytics, the process can get overwhelming before it gets off the ground. On the other hand, the Dummies introduction to the subject is straightforward, an example of which is this preface paragraph:
“These steps represent a common-sense approach to ERM: First you identify the risks, then you figure out which ones are the most critical. Next, you decide how to address those risks, and then you roll up your sleeves and mitigate the risks. Those are the first four steps. The fifth step is the simplest of all: Keep an eye on what you’re doing to be sure it gets done, is done right, and works like it’s supposed to.”
The rest of the book presents each of the five steps in the same common sense manner, and even includes a final chapter containing nine useful tips to make your ERM journey as smooth as possible.
I would recommend Enterprise Risk Management for Dummies to anyone who wants to increase the level of risk intelligence in their organization. It will serve as a practical start-up guide that answers questions in clear and simple terms.
Employee Handbooks
An employee handbook tells the employees what they can expect from the company, and what the company expects from them. A handbook answers questions like “What time do I have to be at work?”; Does my employer provide health insurance?”; “How many vacation days am I entitled to?”, and many more.
In addition to relaying basic information about benefits, hours, and pay, an employee handbook imparts the company’s culture, values, and history. This information can help motivate employees to work more effectively and enthusiastically on behalf of the company.
hile we see safety mentioned in one or two paragraphs of some handbooks, it does not go into the depth necessary to convey meaningful information on the subject. An employee handbook can do a lot, but it can’t do everything. It represents just one part of a company’s relationship with its employees.
Free for the asking . . . . .
I was so impressed with this booklet that I ordered extra copies and will provide them on a first come basis. Just email your request to me at ed@kempkey.com and I will mail the booklet to you. Don’t wait too long as there is a limited supply.