SRH - Risk Management

STP stands for segmenting, targeting, and positioning. It is the key process by which a company translates its value proposition into a communication strategy. A linear process, STP helps ensure that firms use their marketing budgets wisely in order to avoid the wasted expense of investing in exposure in markets that are uninterested in their offerings.

Staff members often express their reservations that the introduction of an ERM might lead to additional bureaucratic burdens. But actually, the degree of bureaucratic burden is highly de-pendent on the kind of approach one may have. If you follow the "absolute control" approach, to some extent close to the Sarbanes-Oxley-Act procedures, this may be true. Following this approach would mean to set up a parallel system of control, focusing on monitoring and compliance regulations.