This research paper investigates the strategic integration of Enterprise Risk Management (ERM) and
its potential to propel organizations toward competitive advantage amidst the complexities of the
contemporary business landscape. A comparative case study approach analyzes two organizations
recognized for their exemplary ERM practices. The study investigates how these organizations cultivate
resilience, enhance the quality of strategic decision-making, and unlock innovation capabilities by
integrating ERM. Critical success factors such as unwavering executive sponsorship and developing a
risk-aware culture are examined. The article also explores the ongoing challenge of quantifying certain
strategic risks and offers strategies for addressing them. Finally, recommendations are provided to
guide organizations seeking to strategically integrate ERM, focusing on seamlessly incorporating risk
assessments into strategic planning, fostering risk awareness throughout all organizational levels, and
utilizing specialized technology solutions to streamline risk management processes.