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• Teaching Note | HBS Case Collection | June 2014 (Revised June 2017)

  The Kursk Submarine Rescue Mission (Case and Multimedia)

  Anette Mikes and Amram Migdal

  Teaching note for 114-708

  Keywords: Span of support; JDOT; job design; Levers of Control;

  Citation:

  Mikes, Anette, and Amram Migdal. "The Kursk Submarine Rescue Mission (Case and Multimedia)." Harvard Business School Teaching Note 114-097, June 2014. (Revised June 2017.)  View Details

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• Article | Journal of Applied Corporate Finance | Winter 2015

  When One Size Doesn't Fit All: Evolving Directions in the Research and Practice of Enterprise Risk Management

  Anette Mikes and Robert S. Kaplan

  Enterprise risk management (ERM) has become a crucial component of contemporary corporate governance reforms, with an abundance of principles, guidelines, and standards. This paper portrays ERM as an evolving discipline and presents empirical findings on its current state of maturity, as evidenced by a survey of the academic literature and by our own field research. Academics are increasingly examining the adoption and impact of ERM, but the studies are inconsistent and inconclusive, due, we believe, to an inadequate specification of how ERM is used in practice. Based on a ten-year field project, over 250 interviews with senior risk officers, and three detailed case studies, we put forward a contingency theory of ERM, identifying potential design parameters that can explain observable variation in the "ERM mix" adopted by organizations. We also add a new contingent variable: the type of risk that a specific ERM practice addresses. We outline a "minimum necessary contingency framework" (Otley, 1980) that is sufficiently nuanced, while still empirically observable, that empirical researchers may, in due course, hypothesize about "fit" between contingent variables, such as risk types and the ERM mix, as well as about outcomes such as organizational effectiveness.

  Keywords: risk management; contingency theory; grounded research; Risk Management; Customization and Personalization;

  Citation:

  Mikes, Anette, and Robert S. Kaplan. "When One Size Doesn't Fit All: Evolving Directions in the Research and Practice of Enterprise Risk Management." Journal of Applied Corporate Finance 27, no. 1 (Winter 2015): 37–40.  View Details

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• Teaching Note | HBS Case Collection | September 2010 (Revised October 2014)

  Enterprise Risk Management at Hydro One - Multimedia

  Teaching Note for 110-707

  Keywords: Risk Management; Weather and Climate Change; Adoption; Perspective; Business and Stakeholder Relations; Goals and Objectives; Strategic Planning; Governing Rules, Regulations, and Reforms; Renewable Energy; Capital Budgeting; Managerial Roles; Problems and Challenges; Energy Industry;

  Citation:

  Mikes, Anette. "Enterprise Risk Management at Hydro One - Multimedia." Harvard Business School Teaching Note 111-036, September 2010. (Revised October 2014.)  View Details

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