Abstract:

Enterprise Risk Management (ERM) has come a long way over the past two decades. While the concept has always existed, it has now emerged as an important function in the organizational management matrix. In North America and Europe, studies have been undertaken in the field of Enterprise Risk Management for the sustainability and growth of the MSME sector. Emerging markets and developing countries have also begun empirical research in this field in recent years. Though regarded as the engine for economic growth worldwide, the sector is highly susceptible to risks and is still observed to be vulnerable to business disruptions. In a highly globalized business environment, the impacts of several issues keep hampering businesses; their repercussions span rapidly across continents. In light of the above, this paper is an attempt to understand the effectiveness of ERM techniques deployed by MSMEs so as to avoid business disruptions and achieve their business objectives without deflection.

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