In today's rapidly changing world, every business enterprise is constantly confronted with a variety of risks arising out of evolving technology, changing customer tastes, new competitive conditions, variable interest and currency rates, etc.

Companies which are unable to effectively manage the risks they face can swiftly lose their competitive edge, or even go bankrupt. And size is no guarantee against either. Two recent examples of huge companies going under were the energy giant, Enron, and the famous retailer, Kmart. Which is why corporations all over the world are recognizing the importance of enterprise risk management (ERM).

Traditionally, risk management has been looked at as something for finance professionals to deal with. This is a dangerous fallacy. This book highlights that ERM is, in fact, best handled as a strategic orientation with an integrated rather than a piecemeal, functional approach. This book both pinpoints the important risks faced by business organizations and provides a framework for anticipating and dealing with them in a systematic and coordinated way. Starting with a basic understanding of risk, the book is packed with relevant contemporary ERM know-how and offers rich insights for managing different types of business risks. A large number of case studies illustrate the application of various risk management strategies and techniques.

A. V. Vedpuriswar (b. 1963) is currently Dean, ICFAI Knowledge Centre, an affiliate of the Institute of Chartered Financial Analysts of India, Hyderabad. A BTech (Hons) in Chemical Engineering from IIT Kharagpur (Class of 1985), a PGDM from IIM Calcutta (Class of 1991), and CFA (Class of 1996) from ICFAI, Vedpuriswar combines nine years of industry with eight years now spent in the academia.

Vedpuriswar’s areas of interest include globalization, risk management, knowledge management, and innovation. His articles have appeared in The Hindu, The Hindu Business Line, The Economic Times, Indian Management and Smart Manager. Vedpuriswar has written and edited more than 200 cases in various areas of management, many of which are being used in leading business schools in Asia, USA and Europe. Vedpuriswar’s earlier books, The Global CEO, Enterprise Risk Management and an edited book, Strategic Financial Management have also been published by Vision Books.

Vedpuriswar’s is a remarkable writing talent. He writes superbly and is at ease with tackling subjects that are wide and vast, effortlessly moving from the big picture to the key detail.

His trilogy of books on business strategy, The Global CEO, Enterprise Risk Management and now Business Innovation Lessons from Great Companies, together form a strategy tour de force, underlying his undoubted talent as a business writer of global stature.