Methods of Managing Organisational Risk and Corporate Governance
18 Questions
0 Views

Choose a study mode

Play Quiz
Study Flashcards
Spaced Repetition
Chat to lesson

Podcast

Play an AI-generated podcast conversation about this lesson

Questions and Answers

What is one of the methods that can be applied to manage risks identified in the risk management process?

  • Neglect
  • Abandon
  • Comply (correct)
  • Expand
  • According to the King IV Report, what is one of the important governance outcomes related to corporate governance?

  • Unlimited growth
  • Market dominance
  • Profit maximization
  • Ethical culture (correct)
  • Who are considered internal stakeholders of an organization?

  • Employees (correct)
  • Customers
  • Competitors
  • Creditors
  • Which party is considered an external stakeholder of an organization?

    <p>Government</p> Signup and view all the answers

    What problem is created by the separation between the ownership and management of a business?

    <p>Principal-agent problem</p> Signup and view all the answers

    In the context of corporate governance, what does triple bottom line refer to?

    <p>Economic, social, and environmental impacts</p> Signup and view all the answers

    What is the primary focus of strategic direction?

    <p>Taking stakeholders' objectives into account</p> Signup and view all the answers

    What is the responsibility of the governing body in terms of stakeholder relationships?

    <p>Managing stakeholder relationships and setting appropriate strategies</p> Signup and view all the answers

    Why is effective communication with stakeholders crucial in risk management?

    <p>To actively involve stakeholders and communicate risks</p> Signup and view all the answers

    What is the role of corporate governance during strategy implementation?

    <p>Implementing the business strategy while considering governance principles</p> Signup and view all the answers

    How many activities are involved in managing stakeholders alongside an organisation's risk management process?

    <p>Three activities</p> Signup and view all the answers

    Which guiding document provides governance principles to consider for achieving an organisation's objectives?

    <p>King IV Report</p> Signup and view all the answers

    What should the governing body ensure about its committees according to the text?

    <p>They can execute their assigned duties effectively</p> Signup and view all the answers

    In the context of strategy development, what has been the shift in the focus of objectives?

    <p>Including sustainability and stakeholder inclusivity</p> Signup and view all the answers

    What is interwoven into every aspect of the strategic direction of an organization according to the text?

    <p>Inclusivity of all stakeholders' needs</p> Signup and view all the answers

    How does the increased focus on corporate governance impact organizations in the modern environment?

    <p>It broadens focus to include both internal and external stakeholders' needs</p> Signup and view all the answers

    What should be taken into account when an organization sets its objectives?

    <p>The needs of all stakeholders</p> Signup and view all the answers

    What is the primary goal for an organization during strategy development?

    <p>Ensuring responsible corporate citizenship by including sustainability</p> Signup and view all the answers

    More Like This

    Chapter 17 - PRMS Objectives
    30 questions

    Chapter 17 - PRMS Objectives

    BestPerformingLeopard avatar
    BestPerformingLeopard
    Risk Management and Organisational Threats
    18 questions
    Use Quizgecko on...
    Browser
    Browser