Risk is the potential for a loss due to uncertainty. Uncertainty is an unknown event, quantity, quality or outcome.
Risk vs UncertaintyWithout uncertainty there is no risk. That is to say that when outcomes are fully known in advance, decisions can be optimized to minimize losses. Risk is inherent in all action and inaction because future outcomes always involve an element of uncertainty.
|Definition||The potential for losses due to uncertainty.||An unknown event, quality, quantity or outcome.|
|Relationship||Risk is a result of uncertainty.||Uncertainty causes risk. |
This is the complete list of articles we have written about risk.
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The common types of uncertainty in decision making and strategy.
A list of common business risks.
The four things that can be done about risk.
A metric for measuring risk management.
The potential that you'll achieve too much of a good thing.
Any risk that people have a strong aversion too.
The definition of risk taking with examples.
A list of risk examples by type.
The two main factors in modeling a risk.
A definition of calculated risk with an example.
How to calculate relative risk with examples.
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A list of interesting business theories.
A definition of knowledge work with examples.
A list of social processes, absurdities and strategies related to office politics.
A guide to product development.
The differences between types of knowledge.
An overview of the trough of sorrow.
A list of common business models.
A list of things that marketers do.
A list of common competitive advantages.
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