MANAGEMENT

Detailed explanation-1: -Risk is an essential component of business decisions. Risk arises because it is impossible to predict outcomes: uncertainty is always with us. Risk is the potential for adverse impact of areas of uncertainty on a decision or action path.

Detailed explanation-2: -Life is a series of calculated risks – nothing more. Everything that you decide to do has a margin of risk. No outcome is ever 100 percent certain and, therefore, any attempt at anything has a chance of complete failure. We risk everything, every day of our lives without knowing it.

Detailed explanation-3: -A significant relationship was demonstrated between the propensity to take risks and the methods used to make decisions. Those with less propensity to take risks tend to work more in groups, purchase more information, and/or spend more time making individual decisions.

Detailed explanation-4: -Taking risks can change you fundamentally. They make you braver, stronger, and more confident. They show that you have what it takes to make a decision, commit, and create the life you want. You build faith in yourself knowing you have done it before and can do it again.