I.Introduction . Enterprise Risk Management (Erm) Started

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I. Introduction
Enterprise Risk Management (ERM) started to steady down at the end of 1990s and has been mostly recognized as the expectations for the effective management and corporate governance. (Fraser and Simkins, 2016) This report divided into 4 parts base on the understanding of ERM and Marks & Spencer (M&S) 2016 Annual report. Firstly, a literature review of ERM to determine the appropriate comprehension of ERM in M&S. Secondly, this report introduced basic situation of M&S Corporation to establish the basis of risk management. Thirdly, an analysis of key risks is the core part of this report. Fourthly, this report analysed the difficulties associated with managing data upon risk intelligence, which needed to pay attention to. All
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Similarly, Bromiley et al. (2015) proposed that companies fully and continuously managed all the risk rather than individual solved them. Accordingly, M&S connected all the risk as whole and analysed risk interdependency.
Oliva (2016) proposed a model for assessing the maturity level of corporations with respect to ERM based on data analysis. Many researchers have utilised model to access ERM. They provided a theoretical model to access the maturity level of ERM based on survey and data collected. (Eckles, Hoyt and Miller, 2014) Therefore, building models based on data is the common methodology of application of ERM. Accordingly, Executive Board members of M&S combined information to provide a consolidated view by diagram 3 - Risk likelihood and impact. On the other hand, Eckles, Hoyt and Miller (2014) argued that ERM was still in the early stage of development due to the existing data coming from case studies and survey compared with the study of corporate risk management.
Chapman (2011) maintains that some benefits of ERM to govern more effectively. This report points out some relevant advantages: Increasing the probability of the enterprise to achieve its objectives; adjusting risk appetite; strengthening corporate governance; optimizing resource allocation,

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