According to the NIST SP 800-61 Computer Security Incident Handling Guide1, the first step in responding to a cybersecurity incident is to invoke the incident response plan (IRP), which is a written document that defines the roles, responsibilities, and procedures for dealing with a confirmed or suspected security breach1. The IRP helps the organization to prepare for, detect, analyze, contain, eradicate, recover from, and learn from incidents1. Invoking the IRP ensures that the right personnel and resources are mobilized to effectively deal with the threat and minimize the impact.
References = 1: NIST SP 800-61: 1. Introduction1

Binding corporate rules provide a structured way to meet country-specific data protection and regulatory requirements while maintaining a cohesive global security framework.
"Binding corporate rules enable multinational organizations to meet data protection requirements in different jurisdictions through a single, globally accepted set of rules."
- CISM Review Manual 15th Edition, Chapter 1: Information Security Governance, Section: Legal and Regulatory Requirements* ISACA practice questions highlight this as the most efficient and scalable approach for global operations.

The organization's vision and mission should be the PRIMARY basis for an information security strategy, as they define the purpose and direction of the organization and its information security needs. A comprehensive gap analysis is a tool to identify the current state and desired state of information security, and the actions needed to close the gap. Information security policies are the high-level statements of management's intent and expectations for information security, and are derived from the information security strategy. Audit and regulatory requirements are external factors that influence the information security strategy, but are not the primary basis for it. References = CISM Review Manual, 16th Edition, pages 17-181; CISM Review Questions, Answers & Explanations Manual, 10th Edition, page 782 The primary basis for an information security strategy should be the organization's vision and mission. The organization's vision and mission should be the foundation for the security strategy, and should inform and guide the security policies, procedures, and practices that are implemented. The results of a comprehensive gap analysis, information security policies, and audit and regulatory requirements should all be taken into consideration when developing the security strategy, but should not be the primary basis.

According to the CISM Review Manual (Digital Version), Chapter 3, Section 3.2.1, strategic alignment is the primary outcome of an information security program1. Strategic alignment means that the information security program supports and is tailored to the organization's objectives and business strategy1. It also means that the information security program is aligned with other assurance functions, such as physical, human resources, quality, and IT1.
The CISM Review Manual (Digital Version) also states that strategic alignment is essential for achieving a competitive advantage, enhancing customer trust, reducing legal and regulatory risks, and improving organizational performance1. Strategic alignment requires effective communication and collaboration among all stakeholders, including senior management, information owners, information security managers, information security steering committees, and external partners1.
The CISM Exam Content Outline also covers the topic of strategic alignment in Domain 3 - Information Security Program Development and Management (33% exam weight)2. The subtopics include:
3.2.1 Information Security Strategy
3.2.2 Information Security Governance
3.2.3 Information Security Risk Management
3.2.4 Information Security Compliance
I hope this answer helps you prepare for your CISM exam. Good luck!

The results of a risk assessment would best enable an informed decision by senior management when developing a business case to justify an information security investment. A risk assessment will help to identify and prioritize the threats and vulnerabilities that affect the organization's assets and processes, as well as the potential impact and likelihood of occurrence. A risk assessment will also provide a basis for selecting and evaluating the effectiveness of controls to mitigate the risks. According to CISA, developing a business case for security will be based on an in-depth understanding of organizational vulnerabilities, operational priorities, and return on investment1. The information security strategy, losses due to security incidents, and security investment trends in the industry are possible inputs or outputs of a risk assessment, but they are not sufficient to enable an informed decision by senior management. References: 1: The Business Case for Security - CISA 2: The Business Case for Security | CISA 3: #HowTo: Build a Business Case for Cybersecurity Investment 4: Making the Business Case for Information Security