We can asset your company by planning its target and business scenario by developing their:
1.2 Mission, Vision, and Core Values
Mission, vision, and core values define what an entity strives to be and how it wants to
conduct business.
1.2.1 Mission
Mission represents the core purpose of the entity. The mission represents why the company
exists and what it hopes to accomplish.
1.2.2 Vision
Vision represents the aspirations of the entity and what it hopes to achieve over time.
1.2.3 Core Values
Core values represent an organization's beliefs and ideals about what is good or bad, acceptable
and unacceptable, and they influence the behavior of the organization.
Enterprise Risk Management encompasses numerous themes and uses very specific terminology. An entity's culture, driven by core values, defines a mission to create value and recognizes that an inventory of risks exist that threaten the achievement of the mission and the creation of value. The application of ERM is intended to provide management with a reasonable expectation of success.
Also, we can support your management by identifying the following:
Risk Inventory: All risk that could impact an entity.
Reasonable Expectation: The amount of risk of having strategy and business objectives that is appropriate for an entity, recognizing that no one can predict risk with precision.
Core values affect the amount of risk an organization is willing to accept within the context of the business. The organization makes overall decisions regarding risk appetite and, based on that determination, assesses its risk capacity and develops a risk profile.
Business Context: The trends, events, relationships, and other factors that may influence, clarify, or change an entity's current and future strategy and business objectives.
Risk Capacity: The maximum amount of risk that an entity is able to absorb in the pursuit of strategy and business objectives.
Risk Profile: A composite view of the risk assumed at a particular level of the entity or aspect of the business that positions management to consider the types, severity, and interdependencies of risk and how they may affect performance relative to the strategy and business objectives.
Enterprise risk management is defined by five interrelated components and is supported by 20 risk management principles. The components somewhat resemble the COSO cube for internal control but address the broader issues of risk as it impacts an entity.
- Governance and Culture
- Strategy and Objective-Setting
- Performance
- Review and Revision
- Information, Communication, and Reporting (Ongoing) Holistic view/ are we diversified
