The Enterprise Risk Management (ERM) Framework is a structured approach that organizations use to identify, assess, and manage risks that could impact their objectives. It helps businesses understand potential threats and opportunities, ensuring they can make informed decisions. The framework typically includes components like risk identification, risk assessment, risk response, and monitoring. By implementing the ERM framework, organizations can create a risk-aware culture, aligning risk management with their strategic goals. This proactive approach not only safeguards assets but also enhances decision-making processes, ultimately contributing to long-term success and sustainability in a competitive environment.