Operational risk
- Created by: Sarah
- Created on: 14-07-13 20:18
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- Operational risk
- "the risk of losses resulting from inadequate or failed internal processes, people and systems, or external events"
- Reputational risk
- Any kind of deterioration in the way in which the company is perceived
- Litigation risk
- Loss of damage which is a consequence of legal action
- Process risk
- Losses resulting from poorly designed business processes
- People risk
- Losses resulting from human error or deliberate actions
- Systems risk
- Losses resulting from poorly designed systems
- Event risk
- Diaster risk-losses from one-off incidents such as fire
- Regulatory risk- new laws/regulations affect the business operations
- Physical risk- such as climate & geology
- Social risk- change in tastes or demography
- Economic risk- changing economic conditions
- Political risk- the risk a host government may act against you as a company
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