ERM can also be described as a risk-based approach to managing an enterprise, integrating concepts of internal control, the Sarbanes–Oxley Act, and strategic planning. ERM is evolving to address the needs of various stakeholders, who want to understand the broad spectrum of risks facing complex organizations to ensure they are appropriately managed. Regulators and debt rating agencies have increased their scrutiny on the risk management processes of companies.

There are various important ERM frameworks, each of which describes an approach for identifying, analyzing, responding to, and monitoring risks and opportunities, within the internal and external environment facing the enterprise. Management selects a risk response strategy for specific risks identified and analyzed, which may include:
Oscar Munoz,CEO,United Airlines
John Legere,CEOT-mobile
Marcelo Claure, CEO, Sprint,@marceloclaure
Tommy Inzina, President, CEO, Baycare, Daycare Health System
Bruce Flareau, EVP, CMO, Baycare, Daycare Health System
Glenn Waters, EVP, COO, Baycare, Baycare Health System,glenn.waters@baycare.org
Janice Polo, EVP, CFO, BayCare, Daycare health system
Jonathan Oddi,General Manager,Odds investments
Steve Easterbrook ,Mcdonald’s, CEO,Chief Executive Officer, mcd
Jeff Bezos ,Amazon,CEO,
Jame Helper,Coo
Miles D. White,Chairman,Coo,Abbott laboratories

Avoidance: exiting the activities giving rise to risk
Reduction: taking action to reduce the likelihood or impact related to the risk
Alternative Actions: deciding and considering other feasible steps to minimize risks
Share or Insure: transferring or sharing a portion of the risk, to finance it
Accept: no action is taken, due to a cost/benefit decision