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

    • What is the Higgs Report's recommendation for directors?

    <p>Constructively challenge and contribute to the development of strategy</p> Signup and view all the answers

    Who holds the copyright for the material?

    <p>David F. Larcker and Brian Tayan</p> Signup and view all the answers

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

    <p>Considering strategic planning and oversight as their most important responsibility</p> Signup and view all the answers

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

    <p>Constructively challenging and contributing to the development of strategy</p> Signup and view all the answers

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

    <p>Constructively challenging and contributing to the development of strategy</p> Signup and view all the answers

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

    <p>Defining the corporate strategy</p> Signup and view all the answers

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

    <p>Developing and testing business</p> Signup and view all the answers

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