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NEW QUESTION 49
Which of the following models would be used to explore internal and external risks to a business?
- A. Poisson Distribution
- B. SWOT
- C. STEEPLE
- D. Porter's 5 Forces
SWOT is used for this. S + W is strengths and weaknesses, which are internal risks. O+T are opportunities and threats which are external risks. See p. 12 for more information
NEW QUESTION 50
Which of the following will you put into box 6?
- A. strategic
- B. environment
- C. operational
- D. intellectual property
The correct answers are as follows:
Table Description automatically generated
NEW QUESTION 51
What would happen if a company enacts its Contingency Agreement following a natural disaster?
- A. they will receive operational help from a third party
- B. they will receive a financial pay-out
- C. they will be able to breach any contracts that it has
- D. they will be able to claim on insurance
They will receive operational help from a third party is the correct answer. Unlike insurance, a contingency plan provides operational help, not just financial. This could be in providing an emergency workspace, helping to get IT systems back up and running or providing emergency air freight. This is explained on p.91-92 of the study guide
NEW QUESTION 52
ISO 31000 is built on 11 guiding principles. Identify THREE of these.
- A. Risk Management should be done annually
- B. Risk Management should include only the Departments affected by risk
- C. Risk Management should address uncertainty faced by the organisation
- D. Risk management can create value
- E. Risk Management should take into account company culture
The first three sentences are true about ISO 31000. The list of the 11 principles are from p. 140. ISO 3100 is a known exam topic.
NEW QUESTION 53