focus on strategic risk management and evolution of ERM programs. You will examine ERM implementations at the LEGO group and the University of Washington.Please read the following chapters from your textbook Chapter 6- Strategic Risk Management at the LEGO group Chapter 9- Lessons from the Academy: ERM implementation in the University settingExplain how ERM adoption and implementation in the higher education (HE) environment differs from the for-profit environment. Cite specific examples from this week’s readings. In your explanation, discuss at least three points or aspects in which the implementing ERM in the two environments differ. Cite specific examples from readings. (300 words)Explain two pros and cons on both (50 words)Please read the chapters from textbook (Fraser, J., Simkins, B., & Narvaez, K. (2014). Implementing enterprise risk management: Case studies and best practices. John Wiley & Sons.)