Outline the Main Sources of Operational Risk and Why Operational

question 46

Essay

Outline the main sources of operational risk and why operational risk gained prominence during the GFC.

Explain the role and effect of technology in enhancing customer value and marketing.

Distinguish between different types of legislation aimed at protecting competition and their relevance for marketing.

Appreciate the dynamics of market competition structures like oligopolies and monopolistic competition.

Understand the fundamental differences between a patent and a copyright, including the aspects related to digital technology.

---

Definitions:

External Locus

A belief system where an individual attributes their success or failure to external factors or forces beyond their control.

Internal Locus

Having the belief that one's own actions or behaviors are primarily responsible for their outcomes.

Blames Loss

A situation or outcome where an individual or group is held responsible for a loss or failure.

Sensing Scale

A term not commonly recognized in standard frameworks, suggesting a method or tool for measuring perception or awareness. NO.