Match the ERM Component Name to the Appropriate Definition

question 33

Multiple Choice

Match the ERM component name to the appropriate definition.
-Event identification

• A)This is comprised of policies and procedures established and implemented to ensure risk responses are effective.
• B)This involves identifying occurrences that affect an enterprise's ability to attain its objectives.
• C)This involves ensuring relevant data is captured and communicated effectively throughout the organization to appropriate individuals in a timely manner.
• D)This involves watched evaluation and feedback that permits modifications as needed.
• E)This ensures that the enterprise has a process for setting goals that are consistent with the entity's mission and risk appetite.
• F)This involves the risk management philosophy of the enterprise, including the tone set by top management.

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Definitions:

Customer Expectations

The set of assumptions or standards held by customers regarding the quality, service, performance, and value of a product or service that they plan to purchase.

Customer Satisfaction

The measure of how products or services supplied by a company meet or exceed customer expectation.

Supplemental Products

Additional items or services offered to complement or enhance the primary product.

Core Benefits

The fundamental value or primary advantage that a consumer receives from a product or service.