Enterprise Risk Management (Preview)

Contents x i Funded Retention 218 Insurance Arrangements 221 Surety Agreements 226 Derivative Instruments 228 Hedging Considerations 235 Review Questions 238 Research Assignments 240 Appendix 5A – Insurance Agents and Brokers 241 Appendix 5B – Derivative Markets 242 Appendix 5C – Insurance Derivatives 244 Appendix 5D – Weather Derivatives 245 CHAPTER 6 Risk Management Integration 249 Integration Concepts and Mechanisms 250 Three Lines of Defense Model 255 Internal Control Systems 258 Integration with Strategy 265 Integration with Performance 278 Review Questions 286 Research Assignments 287 PART 2 Common Risk Areas 293 CHAPTER 7 Strategy Risks 295 The Nature of Strategy 296 External Environment Awareness 297 Strategic Leadership 305 Strategy Selection 309 Market Strategies 313 Market Leadership 316 Business Model Strategies 317 Digital Strategies 320 Growth Strategies 321 Strategy Execution 326 Strategy Evolution 328 Review Questions 336 Research Assignments 337 Appendix 7A – Disruptive Trends 339 Appendix 7B – Disruptive Technologies 344 Appendix 7C – Five Forces of Industry Competition Model 347 Appendix 7D – Strategic Planning Framework 350 Appendix 7E – Foreign Market Entry Modes 352