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An Attempt Of System Approach To Operational Risk Management

Author

Listed:
  • A.Gromoff

    (Science & Education Center of Information Control Technologies, Russia)

  • J. Stavenko

    (BPM chair, Business Informatics department National Research University HSE, Russia)

Abstract

Operational risk management (ORM) is considered as decision-making tool to systematically operational risk identification and determination of the best courses of action for any given situation. Here we made an attempt to analyse ORM from the position of system approach to the enterprise management. In this view, 4 interrelated subsystems were identified: beliefs, constraints, control and monitoring; and ORM is considered as meta-process, which umbellates enterprise business processes and sets requirements to the above subsystems. Interrelations of the management components are discussed as well.

Suggested Citation

  • A.Gromoff & J. Stavenko, 2012. "An Attempt Of System Approach To Operational Risk Management," Far East Journal of Psychology and Business, Far East Research Centre, vol. 8(4), pages 38-49, September.
    • Handle: RePEc:fej:articl:v:8c:y:2012:i:4:p:38-49
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    References listed on IDEAS

    as
    1. Alfred A. Marcus & Mary L. Nichols, 1999. "On the Edge: Heeding the Warnings of Unusual Events," Organization Science, INFORMS, vol. 10(4), pages 482-499, August.
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    More about this item

    Keywords

    Operational Risk; System; Entropy; Knowledge; Risk Management;
    All these keywords.

    JEL classification:

    • M1 - Business Administration and Business Economics; Marketing; Accounting; Personnel Economics - - Business Administration

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