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Why Enterprise Risk Management Is Critical for Small & Mid-Sized Firms

 
  John W. Braine, Partner, CFO Edge, LLC  
   
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  Article Summary  
To correctly balance financial and operational sides of their companies, it is important for Los Angeles and Southern California executive to understand why enterprise risk management is critical for small and mid-sized businesses.

Strategically evaluating risk factors is needed both to identify areas that can impact financial and operational goals – and to make required adjustments so that financial and operational outcomes are meeting targets.

Reviewed are a definition of enterprise risk management (or ERM), why it is critical, ERM measurement variables, and the benefits of a strategic risk plan.

Facing multiple internal and external risks, forward-thinking executives are using enterprise risk management to uncover potential risks and mitigate them.

While historically applied by large corporations, small and mid-sized business are using it more frequently as large exposure or a single event can have a greater impact on their finances and operations.

Executives looking at how to implement and benefit from enterprise risk management may be interested in talking with a provider of CFO services.

A former enterprise CFO brings exceptional breadth and depth in deploying and managing enterprise risk management initiatives to mitigate risk and achieve improved financial and operational outcomes.

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