risk

Vocabulary Word

Definition

Risk refers to the potential for unwanted, negative consequences from an event or action. Imagine you're organizing a party. There's a 'risk' that nobody might show up, or it might rain heavy.

Examples in Different Contexts

In business management, 'risk' assessment is vital to identify and mitigate potential threats to operational continuity and profitability. A risk manager might advise, 'Implementing robust risk management strategies is essential to navigate uncertainties and protect our business assets.'

Practice Scenarios

Creative

Scenario:

Our next marketing campaign takes a new direction and the corporate team is a bit uneasy. It's quite different from what we've done before.

Response:

There's significant risk associated with the new direction, but it could also set us apart from our competitors.

Impact

Scenario:

Our new health initiative may meet resistance from the local community. We need to ensure they understand why it's beneficial for them.

Response:

Let’s work on risk management by conducting some community workshops to explain the benefits of the health initiative.