Recognizing, evaluating risk
major challenge for corporations
Dear Alumni and Friends,
From natural disasters, to the global threat of terrorism, to currency fluctuations and to new regulation, businesses and governments have never been more focused on how best to manage risks.
Many companies are adopting the concept of enterprise risk management. ERM provides a structure for companies to evaluate, quantify and manage the many risks they face. ERM helps a company decide its "risk appetite."
The Robinson College has been a leader in risk management for many years, and the college recently made substantial commitments to strengthen our contributions to risk-related theory and practice. Our Department of Risk Management and Insurance consistently ranks among the top in the world. RMI professors are recognized internationally for their contributions to the discipline. In 2001 the RMI Department, together with the college's Department of Finance and School of Accountancy, established CERMAS, the Center for Enterprise Risk Management and Assurance Services, to prepare leaders in the emerging field of ERM.
Because of the importance of ERM and the college's commitment to thought leadership in this area, we are pleased to dedicate an issue of our magazine to this very timely topic.
As always, we looked first to our faculty to provide a broad overview on the subject. Next, we tapped the local and international corporate communities. In Bermuda, Renaissance Re is a premier player in the reinsurance industry. In Moscow, State of Business talked with the head of the risk management department at Moscow State University and with several leaders in the field of risk management in Russia. In Atlanta, we were able to explore the subject with risk management officials from The Home Depot, Delta Air Lines, First Data and BellSouth.
We hope you enjoy these stories and our other standing features, including Rajeev Dhawan's economic forecast.
Thank you for your comments on previous issues; we always welcome your suggestions. Please keep up-to-date on current college news through our web site, robinson.gsu.edu.
Best regards,
H. Fenwick Huss
Dean
