Foreword
I am pleased to welcome this important collection of authoritative papers on enterprise risk management. This subject has, unfortunately, operated below the visibility screen of most CEOs for many years. In the financial institutions, where regulations require a risk management process, most bank CEOs viewed it as a compliance process, much like internal audit and internal controls. They did not view risk management as a strategic process nor one that demanded much of their time and attention. As a consequence, most businesses have limited ability to assess its risk from rapid growth, increased complexity in financing and securitization, and globalization. Company executives have not been the only ones failing to pay sufficient attention to the topic. Few MBA, accounting, or finance programs departments featured courses and training in enterprise risk management. The events of 2007–2009 have made the gaps in knowledge, training, and at-tention to risk management abundantly clear, albeit in a highly costly and tragicmanner. Businesses, business schools, regulators, and the public are now scram-bling to catch up with the emerging field of enterprise risk management. This subject must become a priority for students to study, executives to practice, and regulators to verify. Fraser and Simkins have produced an impressive contribution to the field, one that I believe will help to educate many. I hope this book, beyond its educational and attention-directing mission, will also stimulate the production of other articles and books so that a common body of knowledge can be developed for this vital profession. We are indebted to John Fraser and Betty Simkins for organizing the impressive author team and the editing of this book.
ROBERTS. K APLAN
Baker Foundation Professor
Harvard University
这是平衡计分卡理论创立者为本书作的序，对风险管理有兴趣朋友可以看看此书。