ENTREPRENEURSHIP

Detailed explanation-1: -The probability of a harmful action (e.g. damage, injury, death or illness) associated with a hazard. Risk is the possibility of loss or injury; someone or something that creates or suggests a hazard. connotes a possible negative impact to something of value. It symbolises the probability of a loss.

Detailed explanation-2: -Chance of loss is closely related to the concept of risk. Chance of loss is defined as the probability that an event will occur. Like risk, probability has both objective and subjective aspects.

Detailed explanation-3: -Legal Definition risk. noun. : possibility of loss or injury. : liability for loss or injury if it occurs.

Detailed explanation-4: -Probability – A risk is an event that “may” occur. The probability of it occurring can range anywhere from just above 0 percent to just below 100 percent. (Note: It can’t be exactly 100 percent, because then it would be a certainty, not a risk.

Detailed explanation-5: -Risk is “the possibility that something bad or unpleasant (such as injury or a loss) will happen.”2 A hazard is “a potential source of harm or danger”3 where danger is “something that may cause injury or harm”.