BUISENESS MANAGEMENT
RISK MANAGEMENT
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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Which of the following would you expect to see in the context of the risk strategy of an organisation?1. The risk and audit team report to the board quarterly. 2.The tolerance level of risk is clearly defined. 3.Ownership of risk is delegated to business units.4.The organisation has a defined risk appetite.
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2 and 3
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1, 2 and 4
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2 and 4
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none of above
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Explanation:
Detailed explanation-1: -Before we dive into the process, let’s take a step back and define risk management: Risk management is the act of identifying, evaluating, planning for, and then ultimately responding to threats to your business.
Detailed explanation-2: -Some common financial risks are credit, operational, foreign investment, legal, equity, and liquidity risks.
Detailed explanation-3: -The 4 essential steps of the Risk Management Process are: Identify the risk. Assess the risk. Treat the risk. Monitor and Report on the risk.
There is 1 question to complete.