What Is Operational Risk in Relation to an Organisation

question 26

Short Answer

What is operational risk in relation to an organisation?

---

Definitions:

Material Phenomena

Events or occurrences that are tangible and can be observed or measured in the physical world.

George Ritzer

A renowned sociologist best known for his work on the McDonaldization of society, which critiques consumer culture and the homogenization of everyday life.

Macro-Micro Continuum

The spectrum of analysis in sociology that ranges from large-scale social structures and processes (macro) to individual behaviors and interactions (micro).

Macro Pole

Refers to a large-scale, broad perspective focusing on social structures and processes that shape society as a whole.