Workplace

Question 1

Exists when one party engages in risky behavior knowing it’s protected because another party will incur resulting loss (insurance)

Answer 1

Moral Hazard

Question 2

Describes factors from internal and external sources. It is coordinated activities to direct control of an organization with regard to risk

Answer 2

Risk Management

Question 3

Uncertainty on objects, it is potential of what could happen

Answer 3

Risk Effect

Question 4

Ability to not just withstand high impact events or shocks but to improve and benefit from them

Answer 4

Anti-Fragility

Question 5

Structural, Cognitive, Cultural

Answer 5

Barriers to Risk Management

Question 6

Strategy, Operations, Financial Reporting, Compliance

Answer 6

ERM Framework of Risk Categories

Question 7

Two Activities in ISO 31000 Process

Answer 7

Communication and Consultation / Monitor and Review

Question 8

Agent makes decisions on behalf of principal, but has personal incentives that may not be aligned

Answer 8

Principal-Agent Problem

Question 9

Influenced by two opposing sets. Exemplified in both moral hazard and principal-agent problem

Answer 9

Conflict of Interest

Question 10

Steps and organization should take to ensure health, safety and well-being of employees and protect them from foreseeable injury

Answer 10

Duty of Care

Question 11

PAPA Model

Answer 11

Prepare, Act, Park Adapt

Question 12

Eliminate Uncertainty - Taking steps to guarantee positive risks will happen and negative will not

Answer 12

Optimize (+) / Avoid (-)

Question 13

Redefine Ownership - Responsibility for financial costs and operations

Answer 13

Share (+) / Transfer (-)

Question 14

Employ levers to increase or decrease effect - Seek to change amount of risk through levers

Answer 14

Enhance (+) / Mitigate (-)

Question 15

Take no action - Ignore possible opportunity and accept occurrence of threat

Answer 15

Ignore (+) / Accept (-)

Question 16

HQ has control over subsidiaries. Management tends to share same ethnic background, different than subsidiaries

Answer 16

Ethnocentric

Question 17

Subsidiaries have independence, if profitable

Answer 17

Polycentric

Question 18

Grouped into regions. Coordination within regions but not between

Answer 18

Regiocentric

Question 19

A team each contributes knowledge

Answer 19

Geocentric

Question 20

Emphasizes consistency and common corporate culture

Answer 20

Global Integration

Question 21

Emphasis on adaptation, makes organization more flexible

Answer 21

Local Responsiveness

Question 22

Low GI + Low LR. Coordinated federations

Answer 22

International Strategy

Question 23

Low GI + High LR. Decentralized federations

Answer 23

Multi-domestic strategy

Question 24

High GI + Low LR

Answer 24

Global Strategy

Question 25

High GI + High LR. Glocalization

Answer 25

Transnational Organization structure

Question 26

Long term investments and train executives in global perspectives

Answer 26

Strategic Systematic

Question 27

Short Term Expenses don’t integrate WWOps leads to higher rate of failures

Answer 27

Tactical Reactive

Question 28

Anyone that is not a citizen of the country in which they reside and doesn’t intend to become one

Answer 28

International assignee

Question 29

Four layers and dimensions of diversity

Answer 29

Personality, Internal dimensions, external dimensions, organizational dimensions

Question 30

Enacted by legislatures and rules designated to implement and interpret statutes are promulgated by administrative agencies

Answer 30

Statutes

Question 31

Defined powers of the different federal goverment branches and how these entities operate and interrelate

Answer 31

Constitution

Question 32

Type of liability insurance covering an organization against claims by employee’s former employees and employment candidates alleging their rights have been violated

Answer 32

Employment Practices Liability Insurance