When creating and implementing a business strategy, a business must attempt to identify, address, and eliminate elements of risk before they threaten its success. To do this, businesses apply
A) Enterprise risk management (ERM)
B) Enterprise resource planning (ERP)
C) Logistics management systems (LMS)
D) Executive information systems (EIS)
E) Decision Support system (DSS)

Question

Quizplus · Accepted Answer

Enterprise risk management (ERM) is specifically designed to help businesses identify, address, and eliminate elements of risk before they threaten success. ERM encompasses a broad set of processes and strategies to manage and mitigate risks and seize opportunities related to the achievement of an organization's objectives.

When Creating and Implementing a Business Strategy, a Business Must