Date of Award
Enterprise risk management is a crucial part of the modern business world. Being unprepared to handle risks that a company may face can lead to financial demise. Since the 1960s, the insurance industry has steadily moved away from the focus on insurance buying. Enterprise risk management strives to identify company-wide risks, evaluate their frequency and severity, come up with risk management and loss control methods, implement said methods, and monitor their effectiveness over time. In this case study, I identify risks for Lion Rock Summer Camps, Inc. and suggest various risk management and loss control methods. Lion Rock Summer Camps, Inc. faces many risks that are common among all businesses, but due to the nature of their operations they also face risks unique to their company. By identifying and suggesting risk management solutions, I attempt to reduce costs of risk for the firm as a whole.
Meaney, Arthur, "Case Study in Enterprise Risk Management: Lion Rock Summer Camps, Inc." (2022). Honors Theses. 2578.
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Business Administration, Management, and Operations Commons, Finance and Financial Management Commons, Insurance Commons
This thesis is directly adapted from my work in FIN 542 Enterprise Risk Management, in which our class learned the processes and various ways to reduce a firm’s cost of risk.