Benchmarking - ANSWER The process of measuring the performance of an organization
against external standards of reference that frequently come from similar organizations do-
ing similar things.
Corporate Governance - ANSWER The system of rules, practices and processes by which a
company is directed and controlled.
Enterprise Risk Management - ANSWER A strategic discipline that supports the achieve-
ment of an organization's objectives by addressing the full spectrum of its risk and managing
the combined impact of those risks as an interrelated risk portfolio.
Gap Analysis - ANSWER Comparison of an existing process or procedure to recognize
standards in order to identify deficiencies or excesses in the existing process.
Key performance indicator (KPI) - ANSWER As activity that signals the achievement of or-
ganizational objectives, emphasize opportunities and strategic objectives.
Key risk indicator (KRI) - ANSWER designed to manage downside risk. A measurement of
how risk and volatility relate to achieving organizational objectives,
PESTLE Analysis - ANSWER PESTLE is an acronym for Political, Economic, Social, Technol-
ogy, Legal and Environmental and identifies the categories utilized to analyze internal and
external environments. Other forms of the acronym include "PEST" and "PESTEL."
Risk - ANSWER The effect of uncertainty on objectives.
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against external standards of reference that frequently come from similar organizations do-
ing similar things.
Corporate Governance - ANSWER The system of rules, practices and processes by which a
company is directed and controlled.
Enterprise Risk Management - ANSWER A strategic discipline that supports the achieve-
ment of an organization's objectives by addressing the full spectrum of its risk and managing
the combined impact of those risks as an interrelated risk portfolio.
Gap Analysis - ANSWER Comparison of an existing process or procedure to recognize
standards in order to identify deficiencies or excesses in the existing process.
Key performance indicator (KPI) - ANSWER As activity that signals the achievement of or-
ganizational objectives, emphasize opportunities and strategic objectives.
Key risk indicator (KRI) - ANSWER designed to manage downside risk. A measurement of
how risk and volatility relate to achieving organizational objectives,
PESTLE Analysis - ANSWER PESTLE is an acronym for Political, Economic, Social, Technol-
ogy, Legal and Environmental and identifies the categories utilized to analyze internal and
external environments. Other forms of the acronym include "PEST" and "PESTEL."
Risk - ANSWER The effect of uncertainty on objectives.
1
