Enterprise risk management on the example of selected company

Nedavna globalna financijska kriza zorno je ukazala na potrebu za pravilnom identifikacijom, analizom i upravljanjem poslovnim rizicima, a koji su u vremenima prije krize uglavnom bili zanemareni, s neadekvatnim modelima procjene te bez odgovarajućih procedura korporativnog upravljanja, a modeli upravljanja rizicima su većinom bili ustrojeni kako bi zadovoljili formalne zahtjeve regulatora. Kao jedan od trenutno najpoznatijih modela upravljanja poslovnim rizicima, nameće se proces integriranog upravljanja korporativnim rizicima odnosno eng. Enterprise Risk Management. Integrirajući proces upravljanja korporativnim rizicima u svakodnevno poslovanje kompanije na način da proces upravljanja poslovnim rizicima ne bude sam sebi svrha ili samo ispunjenje formalnog zahtjeva regulatora ili dionika, nego potpora prilikom donošenja poslovnih odluka – način je koji osigurava konkurentsku prednost i dugoročnu održivost poduzeća. Cilj ovog završnog rada je predstaviti koncept integriranog upravljanja korporativnim rizicima, dati usporedni pregled dviju glavnih normi za integrirano upravljanje korporativnim rizicima te prikazati primjenu procesa integriranog upravljanja korporativnim rizicima na stvarnom primjeru multinacionalnog poduzeća sa sjedištem u Hrvatskoj.The recent global financial crisis has clearly highlighted the need for proper identification, analysis and management of business risks, which were largely neglected in the pre-crisis era, with inadequate valuation models and without proper corporate governance procedures, whereby risk management models were largely set up solely as to meet the formal requirements of the regulator. One of the most reputable risk management models currently available is the process of integrated corporate risk management e.g. Enterprise Risk Management. By integrating the corporate risk management process into the day-to-day operations of the company in such a way that the risk management process is not an end in itself, or merely a fulfillment of formal requirements of a regulator or stakeholder, but rather is a process which supports and enables business decisions - is a way that ensures obtainment of competitive advantage and long-term sustainability of the company. The purpose of this thesis is to introduce the concept of enterprise risk management, to provide a comparison of two most prominent norms for enterprise risk management, as well as to show, on real example, the application of the process of enterprise risk management within one multinational company with head quarter in Croatia