_____ Is Defined as the Design and Management of a System

question 11

Essay

_____ is defined as the design and management of a system that directs and controls the flows of materials into, through and out of the firm across national boundaries to achieve its corporate objectives at a minimum total cost.

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Definitions:

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.

Managerial problem solving

The method by which managers identify, analyze, and resolve issues affecting their organization's operations and objectives.