Operational risk as a problematic triad risk

Operational risk as a problematic triad risk

This book is a summary of the author’s achievements and his research on the problematic triad "Operational Risk – Resource Security – Business Continuity”, which have regularly been presented in earlier author’s publications. The perspective of risk (and actually three integrated perspectives: Risk – Security – Continuity) in the author’s opinion may become the key to the interpretation of contemporary management challenges. The reasons for this position are as follows (and are explained in detail in this book):• by analysing the risk the reasons for the limited predictability of any action is clarified as fully as possible,• by setting the course the security most fully indicates the method for improving this predictability,• ensuring business continuity most fully expresses the human desire for full capability with regard to difficulties in activities undertaken.In recent years, there has been a form of renaissance of the resource approach. Regardless of critical comment with reference to the strategic view of this approach, in the context of risk analysis (in terms of business continuity) it is essential in view of the fact that the organisational disruption of business continuity always consists of a direct loss of resources or loss of control over resources. This sets the mode of the analytical approach in providing security and business continuity.Increasing scientific knowledge, especially with regard to the paradoxical delays indicated above in formulating scientific findings regarding the operational and organisational principles of operational risk management in terms of business continuity, inclines to the view that there is a need to give this issue more intensive reflection and research from the perspective of management sciences, which hitherto has virtually not happened. An important question is siting of the issues of the “Operational Risk – Resource Security – Business Continuity” triad in this discipline, i.e. whether and to what extent it belongs, and to extent it lies outside. The discussion shows that this triad is an important part of management theory and there is an urgent need to permanently formalise its system of concepts, the rules of conduct within its framework, and the rules for managing it.