Risk, a Product: what a bewildering idea!

Actually, it’s not quite a bewildering idea.

RISK = PRODUCT
When we look at some official definitions of risk, such as “the possibility of incurring misfortune or loss” and “to act in spite of the possibility of injury or loss”, and we compare them with the ISO 9000 definition of ‘product’, that is “result of a process” (3.4.2), any enterprise, that is a process, may incur in misfortune, injury or loss.

Therefore, the equation holds true: risk = product. Continue reading →

Risk, a Product: what a bewildering idea!

Actually, it’s not quite so.

When we look at some official definitions of Risk, such as “the possibility of incurring misfortune or loss” and “to act in spite of the possibility of injury or loss”, and we compare them with the ISO 9000 definition of “Product”, that is “result of a process” (3.4.2), any enterprise, that is a process, may incur in misfortune, injury or loss. Continue reading →