WOULD YOU RISK IT?

“People should undertake risky action only after they have carefully considered its consequences.”

Can we take a blunt risk? Would not it be like playing dice! In contemporary world our actions cannot be dependent on uncalculated probability of our randomness. Therefore I strongly agree that people should undertake risky action only after they have carefully considered its consequences. A calculated risk would provide us with the extremes of the result and if we can consent the worse it is always a win-win situation.

To start with let us take an example of medical sciences. There are a number of cases where the conventional treatments cannot be performed due to unknown cause of illness. However, doctors never leave the patient unattended.  Special medical research teams work for such cases to fight with the disease, by attempts to find the cause and treatment, for the present case as well as consider the future patients. The appointed medical team takes calculative risks to an extent that would not decline the present health status of patient.

In the field of business calculated risk has most significance, while investing on any commodity a business person or entrepreneur often calculate the risk involved. Calculating and considering risk gives them a better range of expected outcome gives a better picture of the contemplated action. Thus only after considering the risk involved a better action can be taken. There are many such examples of entrepreneurs and business people such as bill gates and mark zukerrberg who took calculated risk before taking actions.

Considering risk involved is not just limited to research and business, it also has implication in politics and government. Before passing a bill or amending any law government often consider the reaction of its people. Only if the reaction subjected to welfare and peace of the general people the government takes action. History is evident that the risk taken by government without considering the consequences had created pandemonium amongst its people.

To conclude I concede with the statement “People should undertake risky action only after they have carefully considered its consequences.” It is evident that this approach is practiced in many fields from research to business. Thus, the statement is it is a better approach to undertake risky action only after they have carefully considered its consequences, it always provide us with range of outcome, If the lowest of range or the worst of outcome can be accepted the action can be undertaken.