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BU 531 Strategic and Risk Management LATEST FINALS REVIEW QUESTIONS & ANSWERS
- Which of the following frameworks is primarily used to
identify the internal and external factors that impact an
organization's strategy?
a) SWOT Analysis
b) Porter's Five Forces
c) PESTEL Analysis
d) Balanced Scorecard
ANS: a) SWOT Analysis
Rationale: SWOT Analysis focuses on identifying strengths,
weaknesses (internal), opportunities, and threats (external).
2. In risk management, which term refers to the likelihood and
impact of an event, often used to prioritize risks?
a) Risk Control
b) Risk Exposure
c) Risk Mitigation
d) Risk Appetite - ANS: b) Risk Exposure
Rationale: Risk exposure combines the probability of
occurrence and the impact on objectives.
3. What is the primary purpose of a risk register in risk
management?
a) To eliminate all identified risks
b) To document and monitor risks
c) To foresee all potential future risks
d) To ensure compliance with regulations
ANS: b) To document and monitor risks
Rationale: A risk register is a tool for recording identified
risks, analyzing their potential impact, and tracking them over
time.
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