Podcast
Questions and Answers
What is the primary purpose of risk management for an organization?
What is the primary purpose of risk management for an organization?
- Maximizing profits and minimizing expenses
- Identifying, assessing, and controlling threats to the organization’s capital and earnings (correct)
- Focusing solely on legal liability
- Ensuring 100% elimination of all risks
How does risk management contribute to corporate governance principles?
How does risk management contribute to corporate governance principles?
- By focusing specifically on risk management to help the company reach its goals (correct)
- By only considering the organization's insurance needs
- By eliminating all risks to ensure a safe work environment
- By ignoring potential threats to focus on profits
What does risk management enable organizations to do in their business decisions?
What does risk management enable organizations to do in their business decisions?
- Avoid establishing procedures to minimize impact of potential threats
- Ignore potential threats for short-term gains
- Take unnecessary risks for higher profits
- Be more confident in their business decisions (correct)
How does risk management contribute to creating a safe and secure work environment?
How does risk management contribute to creating a safe and secure work environment?
What is one of the benefits of risk management for an organization's insurance needs?
What is one of the benefits of risk management for an organization's insurance needs?
What is a key benefit of risk management for an organization's operations?
What is a key benefit of risk management for an organization's operations?
How does risk management contribute to an organization's financial well-being?
How does risk management contribute to an organization's financial well-being?
What does risk management enable organizations to do in their decision-making process?
What does risk management enable organizations to do in their decision-making process?
How does risk management contribute to creating a safe work environment?
How does risk management contribute to creating a safe work environment?
What is a key role of strong corporate governance principles that focus on risk management?
What is a key role of strong corporate governance principles that focus on risk management?
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