Assignment task: According to Redja et al. (2020), enterprise risk management (ERM) is a strategic business discipline that supports the achievement of an organization's objectives by addressing all the risks that the organization faces. The healthcare industry uses ERM to improve organizational value creation and promote a safe environment for the provision and reception of healthcare services.
Discuss the following questions in your initial post:
1. Since ERM programs differ from traditional risk management programs, what additional expertise, aside from the knowledge of hazard risks, must a Chief Risk Officer (CRO) possess and why?
2. Why might members of an organization resist the implementation of an enterprise risk management program and how can this resistance be overcome by the officer?
3. Read this survey of 15 risk officers active in the healthcare industry. What do you think are some of the unique risks CROs in healthcare face, and why?