Modern organizations operate in a highly complex environment. New technologies, increasing digitization, and evolving customer demand create risks that can disrupt operations, weaken cybersecurity, and harm the organizations reputation or financial position and above all, leave the organization unable to achieve its business objectives. Strategic risks threaten an organizations ability to deliver expected outcomes, which can harm the organizations ability to grow and prosper. Such risks can arise from technological change, an evolving competitive landscape, poor management, or changes in customer demands. Operational risks stem from inadequate or failed internal procedures, employee errors, cybersecurity events, or external events such as weather disasters.

Explain the difference between Strategic Risk and Operational Risk. What are the main areas they both try to cover? Provide a complete discussion with 300 words explaining your arguments.