Answer to Question #311380 in Management for joy

Question

Discuss how enterprise risk management has revolutionized e-commerce today

Answer 1

1. Establishment of a more risk-oriented culture for the e-commerce players – e-commerce companies that have adopted enterprise risk management shows enhanced emphasis on risk at various levels. The resultant cultural change permits risk to be regarded more flexibly and even break down silos about how risk is handled.   
2. Creation of standardized risk reporting – enterprise risk management supports improved structure, analysis, and reporting of risks. Moreover, standardized reports, which track business risks can enhance the concentration of executives and directors by offering data that allows better risk moderation decisions.