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As a new employee at Acme Global,Frederick just spent the morning learning about the organization's policies and procedures.He went to lunch with his new coworkers and spent the afternoon filling out forms with the human resources department.What Frederick experienced was ______.
Classical decision theory
A framework that assumes decision-makers are fully rational and seek to maximize utility or profit when making choices.
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.
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