The question was not asking about the single phone that was stolen (in which case a remote wipe may work after the fact); rather, it asks for "the best solution to increase mobile data security on all employees' company mobile devices".

Risk tolerance defines the threshold of risk the organization is willing to accept. Activities that exceed this threshold are deemed too risky to pursue during normal operations.

Jailbreaking a device removes manufacturer, or carrier-imposed restrictions, granting administrative control and allowing it to boot into unauthorized software (in this case, a gaming platform) instead of the standard operating system.