Many hours spent watching the World Cup soccer matches these past few weeks got me thinking a lot about risk. I paid close attention to the instances where the players took a chance, and instances where they could have, but chose not to.
I thought about how those instances affected the outcome of the game. Some risks panned out. Some did not. Some risks determined the winner of the game.
Off the field, risk plays a role in many areas. Insurance experts attempt to mitigate risk in order to ensure they are not paying out more than they are collecting.
Financial investors seeking a higher return will encourage risk. In the business sense, risk is the investment of money or resources into something that is designed to deliver improvement, without knowing all of the variables or the actual outcome.
But,... [ MORE ]