A Mini Guide to Corporate Risk

Let us face it; risk is an inherent part of any venture, be it the creation of an elearning course, a business or even a personal project. They say, “you can’t make an omelet without breaking a few eggs,” and while I may not be a great cook myself, I tend to agree with it. However, in business (as in life), not everything is as predictable as making an omelet, which brings us to corporate risk. Understanding risk

Risk, in theoretical terms, is the result of a prevision of probability and impact. Think of it this way: when assessing the possible outcome of a situation, you ask yourself what you stand to gain or lose and the chances of any of those outcomes to come true. The higher the probability or impact, the higher the risk. The following table shows the result:

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