Launching the satellite to the moon to reach with astronauts inside – it may reach the moon and come back or it may be destroyed in between.
A research scientist engaging in the invention of a new product – he may succeed or fail.
A person trying to reach Mount Everest top – he may reach there or die on the way.
A company launching an entire new product – it may capture market or fail.
There are numerous such examples. If the risk taker succeeds, he may be remembered for ever. If he does not, he will loose his entire thing. More is the uncertainty in the environment, more is the risk involved. In a certain environment, only partial information is known and likely outcome of an action cannot be predicted in advance. Therefore, a person has to work under the condition of partial ignorance. You may face similar situation in the process of achieving your ultimate goal. So what will you do in such a situation? Will you remain inactive in order to avoid risk or will you take risk in order to achieve your goal.
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