koneanniesara
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Hello, this is for my business homework if someone could help me please:
the difference between risk and uncertainties for business with examples

Respuesta :

Explanation:

Risk:

  • Risks are predictable to some extent
  • It is all about winning or loosing
  • We can understand and we will be prepared about the loss
  • We can make a decision depending on the loss whether to take the risk or not

Uncertainty:

  • This cannot be predicted and even we cannot measure the loss
  • We will not be prepared well in advance so it is a bigger challenge
  • This can be handled with the knowledge of crisis management