Objectives and Approach of This Study
The objectives of this study are as follows:
To present in-depth case analysis of several companies' risk management practices
To identify emerging patterns in risk management that could be useful to companies in developing an enterprise-wide risk management system
The research is not intended to deduce from the case studies a uniform framework for risk management. If anything, the research indicates that when it comes to risk management, one model does not fit all companies.
With these objectives in mind, we identified five companies that were at various stages of developing an enterprise-wide risk management approach. At each company, we conducted in-depth interviews on site with senior management and other key employees. An interview protocol containing a list of questions guided the interviews (see appendix A). The case studies are based on the transcribed interviews, company-provided materials, and published information
In selecting the companies, we sought a cross section from different industries. The five firms chosen are all public companies. They represent the agriculture (United Grain Growers), chemical (DuPont), energy (Unocal), financial services (Chase Manhattan), and technology (Microsoft) industries. Table 1.2 lists the study companies and key statistics for each.