An organization cannot afford the loss that comes from taking risks that go wrong, but they suffer big losses because they often take these risks anyway.

What combination of risk capacity and risk appetite describes this situation?

An organization is aiming to use an innovative social media platform to improve engagement with young consumers.

What should the organization’s strategy focus on?

An organization is continually changing to maintain customer and market relevance. The changes involve adopting new technologies, expanding to new markets, and adjusting the service portfolio.

Which is the BEST approach to ensure that suppliers and partners support these changes?

An organization identified activities that are performed by many different people who follow detailed procedures to ensure they carry out all the steps.

The procedures are very clear, and if staff follow the exact steps in the procedures then the results are always good, but this takes a lot of time.

What is the BEST way to improve efficiency?

An insurance company generates sales from its website, from agents in a call centre, and from third parties working for other financial service organizations. The product is very popular and users are generally satisfied. The organization regularly collects and analyses data about service consumers, and this shows that users have very different levels of satisfaction, depending on how the product was sold.

What should the insurance company consider NEXT to help resolve the situation?