Assess the evidence for and the limitations of the main arguments made by at least three advocates and by at least three critics of enterprise risk management (ERM). In particular, assess the evidence for their rival claims about its practicality in implementation, effectiveness and capacity to limit the effect of bias, for different kinds of businesses and organisations, for different kinds of risks, and for different phases of the business cycle.
Support your analysis of the strengths and weakness of the advocates’ and the critics’ cases by comparing either cases of attempts to implement ERM either in (a) two contrasting industries or (b) in two firms of very different sizes.

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