What resource can assist the Boeing Company to Manage Enterprise Risks?
The above examples of the Boeing Company show that Boeing was aware of Enterprise Risk Management (ERM), but Boeing might not have a clear picture of exactly what the process entails. Initiated 90s, the Committee of Sponsor Organization of the Treadway Commission (COSO) released the Enterprise Risk Management Framework outlining how the process should work, and making risk communication among board members (corporate), management (business), and other personnel (functional). ERM will assist the Boeing boards and management discussing and evaluating the organizations risk management efforts (Chapman, 2003). In addition, the framework takes into consideration the strategic opportunities often associated with risk (Chapman, 2003). The ERM should benefit to all roles and responsibilities of a three-tier management process that involves corporate, business, and functional level managers and support employees for the Boeing Company. First, at the top of this hierarchy is the corporate level,
