How to calculate risk
Video: How to calculate relative risk 2024, July
Calculating the level of risk in a business is a very difficult matter, it is these sometimes intuitive calculations that, in many situations, are based on a stunning success or a complete failure of an enterprise. To reduce the likelihood of error, there is a scheme for calculating the degree of risk in cases. And, according to some experts, you can learn to find out its acceptable level.
You will need
Information on the financial condition of the enterprise, competitors, the scope of the company and the economy as a whole for calculating traditional insurance risks, commodity, financial, environmental, legal, etc.
Instruction manual
1
Define the goals that you want to achieve in a risky situation - both primary and secondary. They must be real and quite achievable. Even at this stage, you can tentatively estimate the approximate degree of risk.
2
Evaluate the significance of your results for any outcome, from the best to the worst. At the same time, one should not seriously focus on the riskiness of secondary goals.
3
Try to determine the possibility of your influence on higher employees. Improving your personal status can be achieved by expressing your opinion on issues in which you are well versed.
4
Consider compromise when resolving your contentious and risky issues. It is also worth evaluating the impact of negative processes on your personal status: loss of work, trust or reputation. Are they worth the benefits of the possible benefits.
5
The most important step is to correctly determine the moment for the start of an action or inaction. It is important to remember that almost all significant actions in business are always well thought out, and there are few situations where a really immediate reaction is needed.
6
When assessing the risk of a particular decision, it is imperative to think through your actions in any development of events. The degree of risk in the business reduces the availability of pre-designed contingency plans that can be easily reorganized.
note
Do not get too carried away with risky actions, the victory achieved by hard work and clear planning seems random and undeserved from the outside, which makes others risk where it is completely unjustified.
Useful advice
Real businessmen and leaders understand by nature that calculating risks in advance is more profitable than impulsively doing business.
