Operational risk management is a crucial aspect of any business, as it involves identifying, assessing, and mitigating risks that could impact the organization's operations. By achieving excellence in operational risk management, businesses can ensure smooth operations, minimize losses, and enhance overall performance.
Statistic | Value |
---|---|
Percentage of businesses that have experienced operational risk events in the past year | 75% |
Percentage of operational risk events caused by human error | 45% |
Percentage of businesses that have a formal operational risk management framework in place | 60% |
These statistics highlight the importance of operational risk management and the need for businesses to prioritize this aspect of their operations.
By following these strategies, businesses can achieve excellence in operational risk management and safeguard their operations against potential risks.