Finance. State-owned enterprises’ assets assigned to individual units are subject to capital charges. These individual units are responsible for increasing revenue to generate margins on top of these capital charges. In this regard, boards of directors have been forced to set a strategy that demands that management launch new products and services, especially searching for new markets outside Thailand. This new endeavor has shifted state-owned enterprises into new territory where risks arise. Consequently, they have developed risk management plans to ensure achieving strategic implementation. The planning process of risk management consists of identifying key risk indicators at the corporate level, aligning the risk management plan with corporate strategy, and cascading key risk indicators to the relevant departments. However, risk management is a new management tool for most state-owned enterprises. The results in shown Table VII indicate that the top executives have played a vital role in stimulating the effective implementation of risk management plans throughout the organizations. They are directing risk management policy, following up risk management results, and specifying the key executives responsible for risk management.