Opinion: Using institutional theory to unpick ERM impact – Adoption does not equal achievement

By Sonjai Kumar 2026-05-12T09:00:00

Risk management researcher, author and practitioner Sonjai Kumar argues that businesses must move from institutional and compliance focused risk management to strategic, decision driven ERM

I believe that institutional theory can explain why ERM frameworks are widely adopted globally – yet often fail to influence real decision-making. It is often adopted due to various pressures, such as government regulation and adherence to professional and industry standards, rather than for the direct benefits of its adoption.

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