Exam (elaborations)
ARM 400 Chapter 3 questions with complete solutions 2024
- Course
- Institution
ARM 400 Chapter 3 questions with complete solutions 2024
[Show more]
Content preview
ARM 400 Chapter 3 - Part 3The shared beliefs, values, and accepted behaviors of the people and groups
that compose it, is called a company's: - correct answer ✔Culture.
A company's culture often provides valuable insight into: - correct answer
✔Its attitude toward risk and risk management.
Knowing what makes a company tick can help you provide the best possible
service, ranging from: - correct answer ✔Suggesting the best risk control
techniques, to suggesting an appropriate deductible amount.
In this way, corporate culture can be a key determinant of whether: - correct
answer ✔Its enterprise risk management E R M strategy will be a success.
A company's culture, or lack thereof, becomes evident in these ways: - correct
answer ✔In the way it treats its employees and customers, the way that
information is shared, and the depth of its decision-making process.
Because culture can seep into everything a company does, whether it has a
conservative or an aggressive approach to taking risks, it will also influence: -
correct answer ✔The company's risk management process.
For example: A company that prides itself on being on the bleeding edge of
technology will have a culture that encourages: - correct answer ✔Risk-
taking.
This risk-taking will affect its risk outlook, by: - correct answer ✔Influencing
investments made to ensure solvency in case new products fail, or by
acquiring insurance coverage for potentially risky manufacturing techniques.
, These are the three bases of organizational culture: - correct answer
✔Beliefs. Values. Behaviors.
Beliefs are: - correct answer ✔The practices and concepts that employees
accept as true.
Assumptions formed from these beliefs ultimately drive: - correct answer
✔Behavior.
Values are exhibited through: - correct answer ✔The company's goals and
how it pursues them.
Behaviors are determined by: - correct answer ✔Organizational values.
Beliefs keywords: - correct answer ✔Practices. Concepts. True. Drive
behavior.
Values keywords: - correct answer ✔Goals. How the company pursues
goals.
Behavior keywords: - correct answer ✔Determined by values. Exhibit a norm
or standard of behavior based on values and assumptions.
The company's employees establish and expect all staff to exhibit: - correct
answer ✔A certain norm or standard of behavior based on values and
assumptions.
A company's culture, are A K A: - correct answer ✔Its norms and attitudes
The benefits of buying summaries with Stuvia:
Guaranteed quality through customer reviews
Stuvia customers have reviewed more than 700,000 summaries. This how you know that you are buying the best documents.
Quick and easy check-out
You can quickly pay through credit card or Stuvia-credit for the summaries. There is no membership needed.
Focus on what matters
Your fellow students write the study notes themselves, which is why the documents are always reliable and up-to-date. This ensures you quickly get to the core!
Frequently asked questions
What do I get when I buy this document?
You get a PDF, available immediately after your purchase. The purchased document is accessible anytime, anywhere and indefinitely through your profile.
Satisfaction guarantee: how does it work?
Our satisfaction guarantee ensures that you always find a study document that suits you well. You fill out a form, and our customer service team takes care of the rest.
Who am I buying these notes from?
Stuvia is a marketplace, so you are not buying this document from us, but from seller LEWISSHAWN55. Stuvia facilitates payment to the seller.
Will I be stuck with a subscription?
No, you only buy these notes for $13.49. You're not tied to anything after your purchase.
Can Stuvia be trusted?
4.6 stars on Google & Trustpilot (+1000 reviews)
67096 documents were sold in the last 30 days
Founded in 2010, the go-to place to buy study notes for 14 years now