What are the advantages of integrating ERM with strategy and strategy execution as described in this case?

Address the following questions:

  • 1.What are the advantages of integrating ERM with strategy and strategy execution as described in this case?
  • 2.Describe the four steps in the risk management process.
  • 3.How does scenario analysis as described in this case help an organization to prepare for uncertainties?
  • 4.What are the advantages of using the PAPA model to categorize risks?
  • 5.The mission of the strategic risk management team is to “Drive conscious choice.” How does the Active Risk and Opportunity Planning (AROP) element of strategic risk management at LEGO help to drive conscious choice?