Question $9$

$1$ pts

What is the key difference between Traditional Risk Management and Enterprise Risk Management?

Firms that engage in Traditional Risk Management usually appoint a Chief Risk Officer $($CRO$)$

Traditional Risk management focuses solely on Hazard Risk; whereas Enterprise Risk Management focuses on all four quadrants of risk

With Traditional Risk Management risks are delegated to the department most affected by them; whereas with Enterprise Risk Management the entire organization is responsible for all risks the organization faces

Enterprise Risk Management focuses only on Strategic risks that affect the entire organization; whereas Traditional Risk Management focuses on all four quadrants of risk