E&M

The escalating exposure of firms to pervasive uncertainty renders a purely economic-financial interpretation of risk inadequate. In this article, we advance a systemic perspective on corporate risk, framing it as a cross-cutting dimension of managerial action that is intrinsically connected to sustainable value creation. After examining the main categories of risk and the shortcomings of traditional approaches, we introduce a methodology for designing process-based risk measurement systems, illustrated through a case study of the ELT Group. We ultimately argue that risk measurement should not be viewed as an end in itself, but as a critical enabler of informed governance and effective mitigation decisions.