Clients, Products, and Business Practices

In Operational Risk Management, "Clients" refers to the individuals or businesses that rely on a company’s services. "Products" are the goods or services offered to clients. "Business Practices" encompass the processes and policies a company uses to deliver these products while ensuring safety and compliance. Managing operational risks means identifying and minimizing potential issues in how a company interacts with clients, develops products, and conducts its business, ultimately aiming to protect both the company and its stakeholders from losses or disruptions.