Companies can use enterprise risk management to empower employees and make everyone a process improvement specialist. These days, companies seem to be in constant fear of the see-through economy. This means systemic risks aren’t addressed, and managers aren’t able to engage the right resources to fix the heart of the problem. The problem is that the root-cause of these incidents often cannot be identified by these individuals, who do not have the means to connect with employees across the silos of their work groups to understand how related risks transpire in other areas of the business.

The underlying issues behind these failures are typically buried deep in the operations of the company, often known by supervisors and mid-level managers for months or even several years ahead of time. A study by Queens University has proven that companies that implement a comprehensive ERM program see a 25% increase in market value.ĭata breaches like the one experienced by Under Armour are failures in risk management and are entirely preventable. An effective ERM program proves to ESG investors that a company takes those expectations seriously.

Myfitnesspal by under armour