I agree that risk is associated in all decisions of life, although risk can sometimes be hard to recognize in certain aspects. In business, to combat this there is a process known as Risk Analysis that aids in determining and managing developing issues that could impair essential business opportunities. Some entities even have professional Risk Analyst that help them flourish through the utilization of this process.
After reviewing the results that came with risk in the "Deal or No Deal" game I think it is very necessary to take risk if high reward is to be gained. With every case opened increased risk because the ratio with the boxes because smaller thus increasing the risk if continued playing. With the decreae in cases the dealers deal would be offered and the player was faced with a decision to continue the risk or settle for the offer. If one is to attain maximum reward the game must be played out until the ratio was below 50 percent.
I agree that risk is associated in all decisions of life, although risk can sometimes be hard to recognize in certain aspects. In business, to combat this there is a process known as Risk Analysis that aids in determining and managing developing issues that could impair essential business opportunities. Some entities even have professional Risk Analyst that help them flourish through the utilization of this process.
ReplyDeletehttp://www.wisegeek.com/what-does-a-risk-analyst-do.htm
I have posted a link that sheds light and goes more in depth about what a Risk Analyst actually does.
And remember "What separates the winners from the losers is how a person reacts to each new twist of fate." -Donald Trump
This comment has been removed by the author.
ReplyDeleteAfter reviewing the results that came with risk in the "Deal or No Deal" game I think it is very necessary to take risk if high reward is to be gained. With every case opened increased risk because the ratio with the boxes because smaller thus increasing the risk if continued playing. With the decreae in cases the dealers deal would be offered and the player was faced with a decision to continue the risk or settle for the offer. If one is to attain maximum reward the game must be played out until the ratio was below 50 percent.
ReplyDelete