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Running Head: ERM IMPLEMENTATION1ERM ImplementationInstitution AffiliationDate:ERM IMPLEMENTATION2Companies exist due to making some decisions about whether to move in a specificdirection or not. Many challenges go hand in hand with making decisions. The management willalways ask themselves whether to invest son acquiring new technology or whether to set up newmachinery. They will always look out on whether to spend more on research and development oreven set up a new business. However, decision making may not probably depend on theenvironment. This is because in most cases, the rules and regulations on business are predictable.Still, other risks and uncertainties go hand in hand with the selected decision. For this reason, thedecision-makers apply some of the theories to make informed decisions.General Motors would require to use the game theory when shifting from t ...


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