A Sustainable Industrial Development Approach: Enterprice Risk Management in View

The need to improve upon organizational performance and operational effectiveness call for sustainable industrial development and Risk management initiatives to deliver new corporate business models. An organizations interest to integrate and implement strategic approaches to identify, access and prepare against uncertainties through its business activities hold more benefits as per increased productivity. The authors' investigation via an in-depth interview comprising of the senior and mid-level management staff of a steel-product manufacturing company in Nigeria subscribes to a single case study. We explore the implementation challenges of Enterprise Risk Management (ERM) in the supply chain of manufacturing firms. The research infers the case firm; having implemented and succefully demonstrated the ISO90001 and ISO13000 (quality and environmental standard), struggles to register any benefits with the ERM-ISO31000 operative. The findings further point at the managerial disconnect to effectively communicate the objective and the changing cultural practice. Also, notable was the worker's perception of lacking the necessary information communication assistance to influence the ERM execution. The investigation contributes to the case firm understading of ERM and successful approach towards its implementation.