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Business Strategy and Risk Management Quiz

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Business Strategy and Risk Management Quiz

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Questions and Answers

What is one of the primary responsibilities of the board?

Ensure the strategic guidance of the company (correct)

Develop and test business

Constructively challenge and contribute to the development of strategy

Define the corporate strategy

What do directors consider to be their most important responsibility?

Develop and test business

Constructively challenge and contribute to the development of strategy

Define the corporate strategy

Strategic planning and oversight (correct)

What are the four steps involved in strategy development and oversight?

Define the corporate strategy, Develop and test business, Step 3, Step 4

What is the Higgs Report's recommendation for directors?

Constructively challenge and contribute to the development of strategy (D) Signup and view all the answers

Who holds the copyright for the material?

David F. Larcker and Brian Tayan (A) Signup and view all the answers

Which of the following is NOT a recommended responsibility of the board according to the OECD?

Considering strategic planning and oversight as their most important responsibility (C) Signup and view all the answers

According to the NACD survey data, what do directors consider to be their most important responsibility?

Constructively challenging and contributing to the development of strategy (B) Signup and view all the answers

What is the primary focus of the Higgs Report's recommendation for directors?

Constructively challenging and contributing to the development of strategy (D) Signup and view all the answers

What is the recommended first step in strategy development and oversight?

Defining the corporate strategy (D) Signup and view all the answers

What is the recommended second step in strategy development and oversight?

Developing and testing business (B) Signup and view all the answers