Difference between strategic risk and operational risk

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Risk management is a very important topic in both Strategic Management and Operations Management. A business may face different types of risk. Not all risks will have an equal impact on the business. Therefore, it is important for managers to understand different types of risk. Definition of risk A risk usually refers to a situation that could be dangerous or have a bad outcome. It can also be defined as the possibility that something unpleasant will happen (Soanes, 2001). According to Canadian Centre for Occupational Health and Safety (2009), risk […]