A Simplified Enterprise Risk Management (SERM) Model

This paper is a magnifying lens for applying risk management (RM) at an enterprise level. The challenges and realities of applying RM are difficult. However, neglecting or ignoring risk management at any enterprise would be a basic reason for failure or even termination of this enterprise. In this paper, primary and secondary data collection methods have been employed: A Literature review of previous research that corresponding to RM; and a questionnaire survey technique which is about risk management. It has been built upon the Fourth Generation Activity Theory. The analysis resulted from the literature review and the survey's responses (100 participants) led to the creation of the Simplified Enterprise Risk Management (SERM) Model. In this research, it has been found that simplifying the process of RM and providing a clear model can help in using it. It has been found that in this research that even though there are many research papers that provide rich information about how to manage risk in organizations and institutions, there was a need for visualizing and simplifying the process of adopting risk management that need to be part of the enterprise's culture.