Final answer:
In a business context, opportunities and controls are elements that can positively impact organizational objectives. Opportunities allow for growth and increased market share, while effective controls contribute to operational efficiency and productivity. Conversely, fraud and risks are normally unfavorable but can be managed to minimize their impact or to find potential opportunities.
Step-by-step explanation:
Events that could have a positive impact on organizational objectives are primarily opportunities and well-designed controls. Opportunities refer to situations which an organization can exploit to its advantage, often leading to growth, increased market share, or improved profitability. Effective controls within an organization help ensure that all processes and systems are operating as intended, which contributes to increased efficiency and can prevent waste, fraud, and errors, thus contributing to increased productivity.
On the other hand, events like fraud and risks typically have a negative impact on organizational objectives. However, if an organization manages its risks well, it can mitigate negative impacts and possibly even discover opportunities within those risks. External economic risks, such as natural disasters or war, which individuals have little control over, may be mitigated by strong organizational planning and response strategies.
In the context of political events, they involve rules, reality, and choices. An organization should be prepared to adjust its strategies and operations in response to political changes to maintain or improve its standing.