What are the prospects and consequences for Blue Wood if it carries on the way it has been? What are the main challenges in developing and implementing a risk management framework for Blue Wood? How does the ownership structure affect these challenges? If the company is to develop a risk management framework, who should lead the process? Should a Chief Risk Officer (CRO) be appointed? If so, to whom should he/she report and have access to? How could smaller companies without the resources for a dedicated CRO deal with ERM? What is the role for the Board in such a process?
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