Effect of uncertainty on your objective

Opportunity with positive impact

How do risk affects you?

Only when it comes to personal life

Which of the following is a risk?

Political instability in a country

Fluctuation of currency exchange

What is NOT risk management?

Identify potential problems before it occurs

Analyse the uncertainty and respond to it

Being proactive rather than reactive

Scenario: Assuming if you need to cross a river in order for you to reach a very important meeting. The meeting is starting in 30 mins time. Missing the meeting may cause your company to loss a big business opportunity and thus affecting your promotion. Which option will you take?

Swim across the river (shortest route) but there may be crocodile

Bribe a boatman to ferry you across (bribery is an offence)

Use the bridge at the end of the river (longest route

What do we consider in assessing a risk?

Likelihood of the risk occuring

Controls in place to address the risk

Which of these is a major uncertainty when starting up a new business?

Whether there will be a demand for the product

Raising too much cash for the business

Innovation, Risk and Uncertainty!!

Authored by David Munro

Business

12th Grade

Used 4+ times

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26 questions

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MULTIPLE CHOICE QUESTION

1 min • 1 pt

Is it an invention or an innovation?

Invention

Innovation

MULTIPLE CHOICE QUESTION

1 min • 1 pt

Is it an invention or an innovation?

Invention

Innovation

MULTIPLE CHOICE QUESTION

1 min • 1 pt

Is it an invention or an innovation?

Invention

Innovation

MULTIPLE CHOICE QUESTION

1 min • 1 pt

Is it an invention or an innovation?

Invention

Innovation

MULTIPLE CHOICE QUESTION

1 min • 1 pt

Is it an invention or an innovation?

Invention

Innovation

MULTIPLE CHOICE QUESTION

1 min • 1 pt

Is it an invention or an innovation?

Invention

Innovation

MULTIPLE CHOICE QUESTION

1 min • 1 pt

Is it an invention or an innovation?

Invention

Innovation

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