Why did the chicken cross the road?-Risk!!!
I had fun googling this tonight! There are some excellent responses on this web site here. (Check out the Bill Gates joke!)
Serious as I can be this late at night it is surely about taking a risk. In business the bigger the risk, the bigger the return. There is always a downside! So the chicken or the business takes calculated risks – that is working out ways of reducing the risk or calculating what it could be. The key terms you need are:
Calculated risks
The probability of a negative event occurring.
Downsides
The disadvantages of a course of action, including what can go wrong.
Upsides
The advantages, including what can go right.
Do you think these seems risky? Think about insurance companies – this is how they calculate insurance premiums!
Related posts:
- Why did the chicken cross the road?-Risk!!!
- Why risk international marketing?
- Impact of collapsing trade credit insurance
