Enterprise Risk Management is the solution to many of any organisation’s problems

Enterprise Risk Management is the solution to many of any organisation’s problems. If it were implemented in Zimbabwe by operational companies, then these would be thriving in the current economy. This study aims to critically analyse the usefulness of ERM and its benefits thereof. Also, the study will look at companies in other economies that are similar to the Zimbabwean economy have implemented ERM and assess the benefits. The question that this study will attempt to answer is, ‘Can ERM be superseded on to the Zimbabwean market?’

Enterprise Risk Management (ERM) is an ongoing process, effected by people in all the levels of authority in an organisation, that is implemented in line with the corporate objectives. It allows the management to identify potential loss-causing events and be able to set up reasonable measures that will contain the risks within the organisation’s risk appetite. ERM is effective and sustainable. When an economy is hit with a period of low growth and high unemployment, organisations that will withstand the challenges brought by these factors are those that have effectively adopted the ERM approach instead of the traditional way of handling risks

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