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ERM Study Exam 1 Questions & Answers 2024/2025 $9.49   Add to cart

Exam (elaborations)

ERM Study Exam 1 Questions & Answers 2024/2025

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ERM Study Exam 1 Questions & Answers 2024/2025 Organizational Threats - ANSWERSResponse & Resilience, strategic efficacy, systemic contributors Response & Resilience (org. Threat) - ANSWERSRisk management/disaster recovery I.e. Fire/flood Strategic Efficacy - ANSWERSMarket responsiveness...

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  • August 12, 2024
  • 16
  • 2024/2025
  • Exam (elaborations)
  • Questions & answers
  • ERM
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ERM Study Exam 1 Questions &
Answers 2024/2025

Organizational Threats - ANSWERSResponse & Resilience, strategic efficacy, systemic contributors



Response & Resilience (org. Threat) - ANSWERSRisk management/disaster recovery I.e. Fire/flood



Strategic Efficacy - ANSWERSMarket responsiveness I.e. replacement products (VHS with DVDs)



Systemic contributors - ANSWERSEconomic/political conditions I.e. exchange rates



Risk - ANSWERSA variable that can cause deviation from an expected outcome and as such may affect
business objectives and performance



Downside Risk Example - ANSWERSFlood, fire, tornado



Upside Risk Example - ANSWERSOpportunity-investments, ventures



Risk vs threat - ANSWERSRisk OF something. Threat FROM something



Risk factors - ANSWERSExposure

Volatility

Probability

Severity

Time horizon

Correlation

Capital

Speed of Onset

,Exposure - ANSWERSMaximum potential impact/foreseeable loss



Volatility - ANSWERSVariability or uncertainty



Severity - ANSWERSSimilar to exposure - likely potential impact



Time Horizon - ANSWERSHow line you're at risk



Correlation - ANSWERSAssociated risks



Speed of onset - ANSWERSHow quickly the risk surfaces



Upside risk + downside risk = - ANSWERSCompetitive advantage



Risk Responses - ANSWERSAccept

Avoid

Reduce

Transfer



Accepting risk - ANSWERSThe level of risk is reasonable



Avoiding risk - ANSWERSAvoiding the action that would cause the risk - ignoring the opportunity



Transferring Risk - ANSWERSShifting responsibility for a risk to another party. Usually does not reduce
overall risk except in cases where the other party is able to reduce it (plumber in stead of DIY)



Reducing risk - ANSWERSLowering the impact and/or probability

, Known risks management goal: - ANSWERSImpact minimization



Unknown risks management goal; - ANSWERSVulnerability reduction



Value at risk - ANSWERSThe share price X number of shares (also called valuation)



Tangible components of a brand - ANSWERSProperty, plant, equipment (AT&T)



Intangible components of a brand - ANSWERSReputation, intellectual property, brand name (Microsoft)



Tangible assets - ANSWERSBook valuw



Premium value - ANSWERSValue in excess of book value



Latent Value - ANSWERSHidden assets or opportunities ex unmotivated workforce



VCQ - ANSWERSMeasure of reputation equity (premium + latent)



Value drivers - ANSWERSIntrinsic or innate characteristics of the organization that must be preserved
since they are the cornerstone of the firms value

Reputation

Brand

Intellectual property

Innovation

Potential growth

Global reach

Management expertise

Workforce

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