 Operational Risk with Outsourcing and InsourcingDimitris N. Chorafas Chapter 3 in Outsourcing, Insourcing and IT for Enterprise Management, 2003, pp 49-70 from Palgrave Macmillan Abstract: Abstract Every business involves operational risk, though some are exposed to it much more than others. This is an issue that has been known for a long time but only recently was structured as a distinct class, joining risk and market risk as a separate area of major exposure. The Basle Committee on Banking Supervision has defined seven classes of operational risk: 1. internal fraud 2. external fraud 3. employment practices and workplace safety 4. clients, products and business practices 5. damage to physical assets 6. business disruption and systems failures 7. execution, delivery, procurement, management. Each of these can affect outsourcing and insourcing agreements, as well as the use of the Internet for commerce and banking (see Chapter 4); and each can be broken down to further detail. There are as well operational risks in business concentration, interruption of business continuity, repeated litigation, legislative changes, wanting compliance methods, information technology, development and use of models, and of course taxation. Keywords: Operational Risk; Enterprise Management; Service Economy; Statistical Quality Control; Business Line (search for similar items in EconPapers) There are no downloads for this item, see the EconPapers FAQ for hints about obtaining it. Related works: Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text Persistent link: https://EconPapers.repec.org/RePEc:pal:palchp:978-0-230-50172-0_3 Ordering information: This item can be ordered from Access Statistics for this chapter More chapters in Palgrave Macmillan Books from Palgrave Macmillan |
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