Operational risk
Operating risk is a term used in business administration and an undefined legal term which at companies from the entrepreneurial risk and operational risk exists and manifests itself in danger of absenteeism.
General
Businesses are exposed to a variety of risks . These risks can arise for technical, economic or legal reasons and lead to operational disruptions that can lead to production stoppages. This area is a subject of study in business administration, which deals with the types, consequences and avoidance of operational risks. The labor law is concerned in the context of operational risk doctrine with the effects of disruptions to the workers .
Operational risk in business administration
The operational risk is the risk that a company cannot provide its products and services , or cannot provide them in good time or incorrectly, for operational, technical, economic or mandatory legal reasons. The Group of Thirty describes operational risk as “the risk of loss due to inadequate systems and controls, human error or management errors”. The operational disruptions falling under the operational risk are always cases in which the work process itself is disrupted for operational reasons. Business administration tends to see operational risk only as operational risk. According to this, operational risk is all dangers that arise from errors in internal processes, "be it due to human error , process and procedural errors or system errors". It is important to uncover internal weaknesses in order to prevent damage . In addition to these internal dangers, external events such as power outages , terrorist attacks or natural disasters can also become operational risks .
Operational risk in labor law
The industrial risk theory under labor law deals with the question of whether the employee can claim the agreed remuneration even if he was unable to perform his work through no fault of his own . The central employment law provision is § 615 sentence 3 BGB , according to which the employer regularly bears the risk of loss of work and the employee retains his claim to remuneration even without work.
Avoidance of operational risks
Individual risk components of operational risk, by taking out insurance (one about business interruption insurance , fire insurance be passed). Operational measures such as your own flood protection or the establishment of operational risk management can also lead to risk minimization. This includes, for example, emergency planning , redundancies such as double data backups or measures for accident and fire prevention .
literature
- Thomas Cloud: Risk Management . Walter de Gruyter, 2015
- Martin Schaaf: Risk Management and Compliance in Insurance Companies - Regulatory Requirements and Organ Responsibility. Frankfurt Series, Karlsruhe 2010
