The greatest challenge when implementing a corporate risk framework for a global organization is the management support. A corporate risk framework is a set of principles, policies, standards, and processes that guide and govern the risk management activities across the organization. A corporate risk framework helps to establish a consistent and integrated approach to risk management, and to align the risk management objectives and strategies with the business goals and values. Implementing a corporate risk framework for a global organization requires the management support, which is the commitment, involvement, and endorsement of the senior management and the board. Management support is essential for providing the vision, direction, and resources for the risk management initiatives, and for ensuring the accountability, responsibility, and ownership of the risk management roles and functions. Management support is also critical for creating and sustaining a risk-aware culture, and for promoting the risk management awareness and communication among the stakeholders. Management support can be challenging to obtain and maintain, especially for a global organization, as it may face various barriers, such as different expectations, priorities, preferences, or perspectives of the management, lack of trust or confidence in the risk management value or performance, resistance to change or innovation, or competing interests or agendas. Privacy risk controls, business continuity, and risk taxonomy are not as challenging as management support, as they are the components or outcomes of the corporate risk framework, and they can be addressed or improved by applying the appropriate methods, techniques, or tools. References = CRISC Review Manual, 6th Edition, ISACA,
2015, page 35.