Asked by Tyesha Valles on Apr 30, 2024
Verified
KPMG's practice that focuses on helping executives identify threats to their firm and manage them is known as __________.
A) operational risk
B) enterprise risk management
C) strategic management
D) uncertainty avoidance management
E) reputation risk management
Enterprise risk management
A comprehensive framework for identifying, assessing, managing, and monitoring the risks that an organization faces to maximize value.
Operational risk
The risk of loss resulting from inadequate or failed internal processes, people, systems, or external events affecting an organization's operations.
Reputation risk management
The process of identifying, assessing, and mitigating threats that could adversely affect an organization's reputation.
- Explain the significance of risk management and its practices in organizations.
Verified Answer
DW
Darci WesterMay 03, 2024
Final Answer :
B
Explanation :
The practice that focuses on identification and management of threats to a firm is called Enterprise Risk Management. Option A does not cover all types of risks, option C focuses on planning and execution of company strategies, option D is not a commonly used term, and option E focuses only on a specific type of risk.
Learning Objectives
- Explain the significance of risk management and its practices in organizations.