Enterprise Risk Management Framework Analysis for Johnson & Johnson

This report presents an analysis of the Enterprise Risk Management (ERM) framework, specifically focusing on its application within Johnson & Johnson. The study begins with an executive summary highlighting the critical importance of risk management in organizational operations, including operational, strategic, legal, and accountability risks. It then provides a background of Johnson & Johnson, emphasizing its long history and commitment to health and community welfare. The report elaborates on the purpose of a risk management framework, categorizes various risks faced by the organization, and identifies events that could impact its operations. The strategic framework approach is discussed to understand risk management and align with strategic principles. References to Jnj.com are provided to support the analysis of the company's practices and principles.

FRAMEWORK FOR ENTERPRISE
RISK MANAGEMENT

Executive summary
The risk management has become a critical component in management of
organizational working. Johnson & Johnson is aware of the critical importance of risk
management policies inherent risk involved in the business activities related to
operational threat strategic threats legal threats as well as accountability risk. The risk
manager framework is essentially required for application of the risk management
approach that can be implemented within the organization. The current study focuses
on elaborating the purpose of risk management framework categorizing risk faced by
the organization and identification of events that it may have an effect on the working of
Enterprise. The strategic framework approach will be discussed in the study
understand risk management and aligning strategic principles.

Background of the company
The Johnson & Johnson is a 130 year old company believing in good health, welfare of
the community and working towards a progressive society. The aim of the company is
to look towards the wellness of people of every age. It is one of the largest healthcare
company’s committed to enhance its reach and increase the size and growth of
company by producing welfare goods. The objective of the company is to provide
accessibility and affordability of health products for fostering communities which are
healthier.
The company has it's presences across the globe with more than 130,000 employees
working for the company to bring profound changes in the humanity and health
trajectory. Diversity is one of the core parts of the company's culture and has
championed the women at work globally since 1886 (jnj.com, 2019).

References
Jnj.com (2019), Our story. Retrieved from < https://ourstory.jnj.com/>