Apply the ERM framework to a lemonade stand that would like to expand throughout a small neighborhood. Assume that the lemonade stand has several investors. You can pick a risk appetite for the company. Discuss all eight components of the ERM framework, and specifically identifying one opportunity and two risks. Explain how the opportunity might be used to establish a strategy. Complete a qualitative risk assessment (ie. no need for dollar amounts or precise probabilities) of the two risks that you identified, and discuss the associated risk response, control activities, etc. Assess (qualitatively) the risk on an inherent and residual basis ERH stands for entepise Risk HanagementPt is a frames shich he ps us to evalute he n'sks to the otratcgy of +he organi 2ahon ar rs to these nmsks anol implem comooses 8 com tifa the potencaal anawe the businessle monaa e stand. ot he business ( Lemomadle sta he rcume wor c oned below and wel koued 0e the eamne com one . Internal enviro We anal tme imternal orol establish ns nohle for aurseuuo so we res ponse to tmem anarc Hne lan amol olo mo &Cra mble in cooe 'occurrence ot theo enses Le manode busineso oc uncerstana thot nre re in a business where our proouct (Lcmo uall mary pal koutol be our in size to HetheR such n'sts bette re Apply the ERM framework to a lemonade stand that would like to expand throughout a small neighborhood. Assume that the lemonade stand has several investors. You can pick a risk appetite for the company. Discuss all eight components of the ERM framework, and specifically identifying one opportunity and two risks. Explain how the opportunity might be used to establish a strategy. Complete a qualitative risk assessment (ie. no need for dollar amounts or precise probabilities) of the two risks that you identified, and discuss the associated risk response, control activities, etc. Assess (qualitatively) the risk on an inherent and residual basis ERH stands for entepise Risk HanagementPt is a frames shich he ps us to evalute he n'sks to the otratcgy of +he organi 2ahon ar rs to these nmsks anol implem comooses 8 com tifa the potencaal anawe the businessle monaa e stand. ot he business ( Lemomadle sta he rcume wor c oned below and wel koued 0e the eamne com one . Internal enviro We anal tme imternal orol establish ns nohle for aurseuuo so we res ponse to tmem anarc Hne lan amol olo mo &Cra mble in cooe 'occurrence ot theo enses Le manode busineso oc uncerstana thot nre re in a business where our proouct (Lcmo uall mary pal koutol be our in size to HetheR such n'sts bette re
