2011 ERM Symposium The Strategic Implication of Enterprise Risk Management (ERM): A Framework The Strategic Implications of Enterprise Risk Management: A

The dynamic and highly competitive business environment in recent times has seen numerous debacles, from natural disasters to financial crisis, not forgetting frauds and scandals. This has brought to the lime-light risk management, a discipline that has in the past focused on mostly hazardous risks, and is most recognized in the finance and insurance sectors. All these; including the numerous measures taken to mitigate the current and emerging risks, have given governments, businesses and stakeholders a new view of the environment; the risk environment. The intervention by what is considered the evolutionary discipline of the traditional risk management, known as Enterprise Risk Management (ERM), takes a new and holistic approach towards the management of risk. Experts describe ways of implementation through the use of frameworks, one of which is discussed in this work – The COSO ERM Integrated Framework. This study is carried-out using a case-study research design looking at two (2) cases; Infosys and Rolls Royce Corp. The research is aimed at developing an explanation on how ERM brings about the strategic implications or its „promise ‟ as it is popularly known the ERM circle