Take the word “risk”. Four letters, such a small word, but those four letters support entire industries, form the basis of global compliance programs and have as many conflicting interpretations as there are words in the thesaurus.
Ask the average person what “risk” means and the answer will be something like, “the chance that something bad might happen”. That’s as good a definition as any for everyday life, but the Risk Management world uses that word in fundamentally different ways.
This definition of risk from investopedia tells the reader everything and at the same time absolutely nothing. It’s a vague idea, requiring context to be properly understood. For the full article click here
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