Understanding Risk and Its Importance in Business Activities

  • Omar K. HussainEmail author
  • Tharam S. Dillon
  • Farookh K. Hussain
  • Elizabeth J. Chang
Part of the Studies in Computational Intelligence book series (SCI, volume 412)


Nearly all of us have used the word risk in our conversations or have heard it in our daily life experience. To mention a few such situations: (i) you risk losing your driving license if you are caught drink driving; (ii) you risk your enrolment being cancelled if you are caught cheating; (iii) you risk losing your job if you don’t improve your performance; (iv) your business is at risk if the current financial and economic situation does not improve; (v) you risk not reaching your job interview in Sydney on time on Monday if you leave from Perth by car on Friday. In all the above mentioned situations, risk is associated with an outcome that highlights losing a certain thing; for example losing a license, losing an enrolment, losing a job, losing a business, not reaching an interview on time. In all these examples, the thing which may be lost is considered an important one, hence the word ‘losing’ is associated with them.


Business Activity Interact User Online Shopping Security Mechanism Access Control Policy 
These keywords were added by machine and not by the authors. This process is experimental and the keywords may be updated as the learning algorithm improves.


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Copyright information

© Springer-Verlag Berlin Heidelberg 2013

Authors and Affiliations

  • Omar K. Hussain
    • 1
    Email author
  • Tharam S. Dillon
    • 2
  • Farookh K. Hussain
    • 3
  • Elizabeth J. Chang
    • 1
  1. 1.Digital Ecosystems and Business Intelligence InstituteCurtin UniversityPerthAustralia
  2. 2.Department of Computer Science and Computer EngineeringLa Trobe UniversityMelbourneAustralia
  3. 3.School of SoftwareUniversity of TechnologySydneyAustralia

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