ERM stands for Enterprise Risk Management, a holistic approach to identifying, assessing, and managing risks across an organization. It involves proactive strategies to minimize threats while maximizing opportunities that support business objectives. ERM integrates risk management into every department—from finance and operations to IT and HR—creating a culture of awareness and preparedness. Instead of treating risks in silos, ERM offers a structured framework for decision-making and long-term sustainability. Popular standards like COSO ERM guide organizations in designing effective programs. ERM is essential for navigating today’s complex business environment, enhancing resilience, and supporting informed strategic planning.