Risk is defined as the probability or threat of a damage, injury, liability, loss, or other negative occurrence, caused by external or internal vulnerabilities, and which may be neutralized through pre-mediated action. In short, bad things can happen due to the decisions that you make or don’t make.
We all deal with risk in our daily lives as well as the consequences of our actions in response to those perceived risks. Managing the decisions we make with respect to risk is a tricky thing to do and takes years or practice to perfect – and in many cases, it cannot be perfected – but with patience and thoughtful decision making using the best information available, it can be minimized.
Aside from waiting for “life’s lessons” to come your way, is there any way to practice? Is there any way to learn those lessons in a consequence free environment so that when the real deal comes your way you are prepared? I say yes – the answer is an appropriately named board game – RISK.
Risk is a strategic board game in which players attempt to capture territories from other players by rolling dice. The game is won when one player has managed to occupy ever territory on the board with his or her armies. While this may seem like a game of chance (because it involves rolling dice), it most certainly is not. Yes, a battle or two may be lost by chance, but the winner will almost certainly always be the player that has played with the best strategy – calculating the risks associated with attacking or fortifying their stronghold – and then proceeding accordingly. The game requires long term strategy, vision, planning, and calculated execution. These are the key components to reducing risk and achieving success in life and business.
So, before you rush out and make hasty decisions, please, think about the risks involved, strategize and execute accordingly. And if you don’t believe me, take a look at what might happen: