Integrated risk management for the firm
Subtitle: a senior manager's guide
By: Lisa K. Meulbroek
Contributors: Harvard Business School. Division of Research
Series: Working paper / Division of Research, Harvard Business School -- 02-046; Working paper (Harvard Business School. Division of Research) -- 02-046
Publisher: Division of Research, Harvard Business School
Published: 2002
Place of publication: Boston
Language: eng
Number of pages: 37
Description: This paper is intended as a risk management primer for senior managers. It discusses the integrated risk management framework, emphasizing the connections between the three fundamental ways a company can implement its risk management objectives: modifying the firm's operations, adjusting its capital structure, and employing targeted financial instruments. "Integration" refers both to the combination of these three risk management techniques, and to the aggregation of all risks faced by the firm. The paper offers a functional analysis of integrated risk management using awide set of illustrative situations to show how the risk management process influences, and is influenced by, the overall business activities and the strategy of the firm. Finally, the paper provides a risk management framework for formulating and designing a risk management system for the firm, concluding with a perspective on the future evolution of risk management.
Notes: Includes bibliographical references.