The Governance of the Operational Risk Indicators

Angelica Stratulat and Monica Susanu
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Angelica Stratulat: Dunarea de Jos University of Galati, Romania
Monica Susanu: Dunarea de Jos University of Galati, Romania

Risk in Contemporary Economy, 2016, 341-351

Abstract: Management has won much its status of science as it is the scientific approach of solving many problems that the leadership of any entity currently has and, as such, it continues to fuel many controversies and debates. Management is the process meant to coordinate, to plan and to control the activities in an organization so as it is able to ensure its goals with maximum efficiency. Under these circumstances, future uncertainties and risks cause revolutionary mutations in approaching most of the economic and social paradigms that humankind were too long accustomed to, so that also the management processes and procedures system is exposed to corresponding changes. Operational Risk Management is not an integrated process but rather a set of fragmented activities that treat and resolve a variety of risks facing the firm/company as a whole, which determines facing the process from a holistic perspective of the whole business.

Date: 2016
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