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Instant MBA by Nicholas Bate

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34. Risk management

It’s a risky world out there, especially in the commercial sector. Companies might get forecasts wrong, fall victim to fraud or have their computers stolen…

That’s just the start of the knock-on effect—but here’s how to worry constructively.

What is risk?

Certainly, in English anyway, the use of the word ‘risk’ has always had a more formal tone to it. In everyday conversation we tend to talk more about problems than risks. So that’s useful, in a way, because risk is actually a formal concept; when we talk about risk we mean something that might occur (losing that deal, running out of circuit boards for the new device, getting sued) that will have an impact on how we achieve our objectives (hitting sales targets, the release ...

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