Abstract
Increasing uncertainty, interconnected risks, and disruptions that cannot be fully anticipated have exposed the limitations of enterprise risk management (ERM) focused mainly on identification, assessment, mitigation, and control. This makes the integration of ERM with organizational resilience relevant. The study aims to systematize the theoretical development of ERM and substantiate a resilience-oriented direction in its further development. The analysis focused on changes in the dominant managerial objective of risk management, its strategic role, treatment of uncertainty, and organizational capabilities. Qualitative content analysis, comparative analysis, the historical-logical method, theoretical synthesis, and conceptual generalization were used. The study proceeded from the assumption that differences among ERM approaches are better explained by changes in their dominant managerial objective than by chronology alone. An authorial typology of six theoretical ERM orientations was developed: loss-prevention, functional risk-reduction, integrated, strategic, adaptive, and resilience-oriented ERM. The typology reflects a cumulative logic: orientations retain core risk-management functions while extending their managerial purpose, and several orientations may coexist within the organization. ERM mechanisms were linked to five resilience-capability groups: anticipation and preparedness, coping and absorption, adaptation, recovery, and learning and transformation. Resilience-oriented ERM was proposed as a further development of ERM rather than a separate management system. Its defining feature is the shift from controlling risk exposure towards maintaining organizational viability and critical functions under uncertainty and disruption. The theoretical significance lies in linking the development of ERM theory with capability-based resilience logic, while the practical significance lies in providing a basis for redesigning ERM towards adaptive and recovery-oriented capabilities. The originality of the study is the typology of theoretical ERM orientations based on the dominant managerial objective and the conceptualization of resilience-oriented ERM as a cumulative extension of existing ERM logic. Further research should test the proposed framework across industries and disruption types. The article is theoretical.