Risk: Difference between revisions
Jump to navigation
Jump to search
(Created page with "{{Learning concept |Description=Risk is a situation in which the decision maker is able to estimate the likelihood of certain outcomes are unknown. |Wikipedia reference=http:/...") |
No edit summary |
||
| (One intermediate revision by one other user not shown) | |||
| Line 1: | Line 1: | ||
{{Learning concept | {{Learning concept | ||
|Description=Risk is a situation in which the decision maker is able to estimate the likelihood of certain outcomes are | |Description=Risk is a situation in which the decision maker is able to estimate the likelihood of certain outcomes. | ||
When some decisions are made, some chance exists that the decision will not produce the intended result. This chance, or uncertainty, represents an element of risk in the decision-making problem. | |||
|Wikipedia reference=http://en.wikipedia.org/wiki/Risk | |Wikipedia reference=http://en.wikipedia.org/wiki/Risk | ||
}} | }} | ||
Latest revision as of 20:15, 2 January 2014
Description
Risk is a situation in which the decision maker is able to estimate the likelihood of certain outcomes.
When some decisions are made, some chance exists that the decision will not produce the intended result. This chance, or uncertainty, represents an element of risk in the decision-making problem.
Concept Prerequisite
Wikipedia Reference
http://en.wikipedia.org/wiki/Risk
Learning Material
Covered in Topic(s)
| Managers as Decision Makers |