Enterprise Risk Management Assignment Example | Topics and Well Written Essays - 2500 words

Enterprise Risk Management - Assignment Example The collapse of the Lehman Brothers in the year 2008 due to bankruptcy there was a grave financial crisis not only in the US but across the entire world. In the 21st century the different economies of the world are closely connected with economic and bilateral ties which make one dependent and linked to the other. As a result, an event or incident taking place at distant corner of the world would invariable have an impact on the rest of the nations of the world, because they are connected to each other in one or more ways. In this paper, the researcher takes up crisis as the event of discussion in this paper. For convenience of study the entire paper is divided into a number of sections and discussed. Firstly, the researcher defines crisis, states the different types of crisis, makes a discussion on the impacts of crisis, talks about crisis management, the importance of crisis management and finally does a case study of the Lehman Brothers. Lastly, the researcher draws the conclusion based on the entire discussion throughout the paper. The conclusion again verifies and validates the belief held by the researcher about the corporate crisis and its impact on the entire economy of the world. The organisation or a company is a single body comprising of a number of departments, the departments are again formed by a number of employees designated with particular job responsibilities. The structure and its entire range of its functioning make it a complex structure which needs efficient and strategic planning. The smooth functioning of a company is essential for the commercial success of the company and even for a strong foundation for the entire economic structure of the country. Countries with a number of successful companies are the ones with affluent economic condition. The close connection between successful companies and economic condition of a country can also be made out from the fact that with the crippling of a significant company can break the