The certainty of uncertainty: risk management revisited

Purpose – The objective of this paper is to scan flagrant cases of uncertainty and hesitation in the conception of plans and strategy and to assess new results in risk management. Design/methodology/approach – The paper uses outstanding examples, present and past (and some future), of both risk taking and risk aversion and their concrete consequences – whether action follows or is blocked by lack of certitude or perhaps confidence. Findings – The paper shows that the wilful overcoming of missing assuredness may incur, in its turn, hazardous risk. Originality/value – The paper illustrates the roles of knowledge, precautions wisely taken, and being willing or hesitating to risk the sometimes long shot.