TRM, Meet ERM

By | June 15, 2017

Research shows companies increasingly are establishing enterprise-wide risk management programs to offer a bird's-eye view of all types of risk. So far, though, travel risk doesn't seem to be part of the conversation.

North Carolina State University's Poole College of Management has an enterprise risk management practice sponsored by Deloitte. Its reports divide risks into three buckets: macroeconomic (i.e., exposure to currency fluctuations or political instability), strategic (disruption, change in customer preferences) and operational (supplier uncertainty, succession challenges).

Traditionally, corporate risk leaders are responsible for one silo and tend to unknowingly "lob" risks to . . .

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Author: Jay Campbell

Jay Campbell in 2004 created travel business newsletter The Beat, in 2006 co-founded Travel Procurement magazine and in 2010 integrated them into Northstar Travel Media’s BTN Group. He served as editorial director until 2013. Jay made his travel industry media debut in 1993 at the Air Travel Journal of Boston while earning his undergraduate degree in journalism at Boston University.