Risk vs Uncertainty Flashcards
(6 cards)
1
Q
Risk
A
Can predict the chance of an outcome in the future
2
Q
Uncertainty
A
Cannot predict the chance of an outcome in the future
3
Q
Risk
A
Internal
4
Q
Uncertainty
A
External
5
Q
Risk management
A
Business plan
Market research
Training staff
Diversification
6
Q
Uncertainty management
A
A potential
Unpredictable
Uncontrollable
Business always faced by it
