Risk Management
Two nine-year-old boys are friends and are NFL football fans. Chris is a Patriot’s fan and Steve is a Ram’s fan. They recently discovered that the Rams and Patriots played in a Super Bowl in 2002. Neither boy has seen or knows the outcome of the game. They have discovered they can watch the game together on YouTube. They decide to place a small bet on the outcome of the game, each wagering a large pack of gum. Does risk exist in this situation? Do any hazards exist? Explain your answers
In the present case study two friends are wagering on their favorite football players who also played in 2002 Super Bowl. They both decide to watch the match on YouTube without knowing the outcome. Risk exist in this situation as the outcome may be favorable to either of the two friends and they risk their friendship on the basis on that outcome and losing a big pack of gum. Hazard exist as they are alone and in case of conflicting situation in the match the two friends might become aggressive.
Risk Management Two nine-year-old boys are friends and are NFL football fans. Chris is a Patriot’s...