Question $3$

$(25$ Marks$)$

Enterprise Risk Management $($ERM$)$ is a new strategic process that identifies and addresses the full range of business opportunities and risks. It is also a value$-$generating business risk management process that provides the discipline and tools for mastering risk as the enterprise creates value. Doing some independent research and with the aid of appropriate examples, discuss the application of the four $(4)$ risk response strategies identified with the ERM concept. In relation to the case study, identify and evaluate the risk response strategy being utilised and the results thereof.