Answered: Thainess Co., a mid-size firm, has set…

Principles Of Marketing

17th Edition

ISBN:9780134492513

Author:Kotler, Philip, Armstrong, Gary (gary M.)

Publisher:Kotler, Philip, Armstrong, Gary (gary M.)

Chapter1: Marketing: Creating Customer Value And Engagement

Section: Chapter Questions

Problem 1.1DQ

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4. Thainess Co., a mid-size firm, has set up its ERM framework and wants to assess whether its ERM components are working properly. To do this, what are some of the ways to judge "effective" ERM?

a. Use the corporate scorecard results as an indicator of the effectiveness of ERM

b. Assess whether risks have been controlled across COSO ERM Framework components with reasonable assurance that risk management will allow the firm's objectives to be achieved

c. Assess ERM effectiveness by using the results of the financial auditor's report

d. Review the firm's operational objectives and determine if each of them has been met

6. What would be the appropriate consolidation of reports by CAE?

a. Significant events should be reported immediately, periodic written reports should cover key risk indicators on a scheduled basis, and the ERM plan should be reported during periodic presentations

b. Risk owners should report every risk event timely, and the CAE is responsible for ensuring that risk owners communicate their risks

c. CAE only needs to report to the board at meetings at intervals, while the risk owners need to report risk events more frequently

d. Significant events should be reported on a scheduled basis and periodic written reports and presentations should cover only risks that require immediate attention

8. Ms. Rabiya Mateo and Ms. Sandra Lemonon, two real-estate investment partners, are assessing the relative risks of a prime property in Taguig City, and a comparable property in a similarly vibrant area of Iloilo City. One partner discounts heavily the value of the Taguig property because of the potential earthquake damage. The Taguig City-averse partner is most likely influenced by which element of risk management analysis?

a. Risk Prioritization

b. Risk Severity

c. Risk Psychology

d. Risk Response

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