United Airlines’ recent experience with removing that now-famous passenger from one of its flights is a perfect example of the value of taking a sound, comprehensive approach to enterprise risk management. Having a big-picture risk management plan won’t prevent negative events from occurring, but will help a company respond appropriately.

In removing the passenger, United successfully reduced its operational risk, but created an unexpected and huge reputational risk. The trade-offs between the two kinds of risk had not been well thought out.

United isn’t alone in failing to think about the interplay between different kinds of risk. Many organizations, including credit unions, don’t recognize this important category of “integrated” risk.

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