Separating Learnable Risks from Random Ones in Business Decisions
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- Synopsis
- One of the primary myths about risk? All risks are random. It turns out that there are two kinds of risks: random and nonrandom risks. This chapter makes the case that if we want to manage the risks underlying most parts of a modern business or its growth opportunities, we must separate what the author calls learnable risks (of the nonrandom variety) from the truly random ones. This, in fact is the first rule of risk intelligence: Recognize which risks are learnable. These can be made less uncertain if we have the time and resources to learn more about them. This chapter is excerpted from "Risk Intelligence: Learning to Manage What We Don't Know."
- Copyright:
- 2006
Book Details
- Book Quality:
- Publisher Quality
- Publisher:
- Harvard Business Publishing
- Date of Addition:
- 08/02/16
- Copyrighted By:
- HBS Press
- Adult content:
- No
- Language:
- English
- Has Image Descriptions:
- No
- Categories:
- Nonfiction, Business and Finance
- Submitted By:
- Bookshare Staff
- Usage Restrictions:
- This is a copyrighted book.