Operational Risks
If a delicious dinner in a restaurant were “the strategy,” then everything that is happening in the kitchen would be “the operation.” Unfortunately, most of the stakeholders and society focus only on the strategic outcomes of nonprofit organizations. They rarely pay attention to what is happening in the kitchen.
The fact that operational risks are happening in the kitchen makes them less visible but not less important. We cannot talk about successful risk management in nonprofit organizations unless we pay enough attention to all types of risks including operational risks.
Operational risks are risks arising from people, infrastructure, and processes in place at the organization. More simply, it is risks arising ...
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