What is Real?
Two quotes about what is real…
“A fundamental part of every culture is a set of assumptions about what is real and how one determines or discovers what is real. These assumptions do, of course, relate to other assumptions … the focus here is about how members of a group determine what is relevant information, how they interpret information, how they determine whether or not to act, and what action to take.”
“Reality is that which, when you stop believing in it, doesn’t go away.”
Phillip K Dick
Both of these quotes are highly applicable to Risk.
Risk, you see is not Real in the sense that Philip Dick defines reality. But Risk is real in the Edgar Shein version of reality.
Because Risk is never there later. Risk is a potential for a loss. Later you have either had the loss or not.
You can never tell, even later, after the bets are settled, whether something was risky or not. You can only tell whether you won or lost. The outcome could have been a certainty, driven by factors that those who thought it was risky are unaware.
Enterprise Risk Management
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