ERM Essay Assignment
Topic: Chapter 7 - "Turning the Organizational Pyramid Upside Down Ten Years of Evolution in Enterprise Risk Management at United Grain Growers"
Text Book: IMPLEMENTING ENTERPRISE RISK MANAGEMENT- Case Studies and Best Practices by John R.S. Fraser, Betty J. Simkins and Kristina Narvaez.
Overview: Few companies stand out as successful pioneers in enterprise risk management (ERM), especially one that undertook the initiative almost 15 years ago. One such ERM pioneer was United Grain Growers (UGG), a conservative 100-year-old Winnipeg, Canada- based grain handler and distributor of farm supplies. Review the case study in Chapter Seven of the textbook to understand the details of their ERM journey.
Answer the following questions regarding this case study:
1. Why does a more participative management style ("tipping the pyramid over") lead to greater responsiveness to customers' needs, increased accountability, and more innovative solutions to challenges than a hierarchical "command and control" structure?
2. Under what circumstances might the hierarchical "command and control" structure produce superior results?
3. What factors do you believe led UGG/ AU to be pioneers in ERM? Was it the industry/ company/ history/ circumstances? Was it a changed organizational "culture" or perhaps good management? Describe the leading factor(s) in your response.
Format your assignment according to the following formatting requirements:
1. The answer should be typed, double spaced, using Times New Roman font (size 12), with one-inch margins on all sides.
2. The response also includes a cover page containing the title of the assignment, the student's name, the course title, and the date. The cover page is not included in the required page length.
3. Also include a reference page. The Citations and references should follow APA format. The reference page is not included in the required page length.