Question: Please see question below regarding ERM and risk. Discuss eight components of the ERM framework Apply the ERM framework to a lemonade stand that would

Apply the ERM framework to a lemonade stand that would like to

Please see question below regarding ERM and risk. Discuss eight components of the ERM framework

expand throughout a small neighborhood. Assume that the lemonade stand has several

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. Discuss all eight components of the ERM framework. You should pick a risk appetite for the company when discussing the internal environment. Specify three objectives and categorize them. Identify a total of one opportunity and two risks. Explain how the opportunity might be used in the strategy selection and/or objective setting process. Complete a risk assessment for one risk (asses on inherent and residual basis). You might want to make a table in Excel to summarize this step. Select and justify a risk response. Discuss control activities, information and communication, and monitoring.

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