Answer to Question #320949 in Management for Elsa

Question

Discuss how enterprise risk management has revolutionized e-commerce today        

Answer 1

Enterprise risk management has revolutionized e-commerce by identifying risk, assessing risk and taking steps to reduce risk to an acceptable level in the new internet economy. ERM has improved focus and perspective on risk in the rapidly growing e-commerce area, and provided ability to track potential changes in risk vulnerabilities. With the emergence of fraud, cybercrime and other security concerns, e-commerce has had higher risk challenges. ERM has enabled balancing security concerns and customer ease in transaction through risk evaluation, greater risk management and risk mitigation measures such as basic user authentication credentials and IP recognition.