The concept of Enterprise Risk Management (ERM) has received increased attention in recent years as a fundamental shift in the way companies approach risk.  ERM is an all-encompassing approach to risk management and this can often make implementing ERM seem overwhelming. Organizations create value by taking risks and lose value by failing to manage them. Effective Enterprise Risk Management (ERM) is about ensuring that the organization knows what risks it is taking, that these are the right risk for the organization, and that they are appropriately managed.

For the final research essay, please explain how Enterprise Risk Management (ERM) empowers organizations to both avoid loss and capitalize on opportunity. Provide specific real-world examples to support your opinions.

Answer the following questions regarding this topic:

1. How does Enterprise Risk Management (ERM) empowers organizations to both avoid loss and capitalize on opportunity?
2. What are the challenges associated with ERM value creation? How do organizations overcome these challenges?
3. Provide two or more real-world examples of organizations that employ ERM to both avoid loss and capitalize on opportunity. You must describe at least two examples.