What is Risk Communication?

What is Risk Communication?

What is Risk Communication? Jonathan Poland

Risk communication involves informing people about potential hazards and the steps that can be taken to prevent or mitigate those risks. This process can include providing warnings, disclosing information, and engaging in two-way communication to effectively manage and address risk. The following are illustrative examples.

Disasters
A government agency calculates the risk of an earthquake based on the frequency of historical earthquakes in a region. They regularly communicate the risks to the public in a variety of media in order to encourage preparation such as earthquake resistant construction.

Health
A product that is known to be unhealthy is required to display a warning on its label in a particular country, province or state.

Environment
A city warns of forecast poor air quality and communicates restrictions put in place to mitigate the situation.

Safety
A construction company conducts mandatory annual safety training for all employees that includes a breakdown of the most common safety risks related to different types of construction sites. Training is aimed at creating awareness of common risks and communicates actions that can be taken to reduce risk.

Financial Risk
A financial advisor accurately communicates investing risks to clients including factors such as volatility, liquidity risk, concentration risk and the risk profile of an asset or security.

Project Risk
A project manager communicates a risk management plan to stakeholders. All stakeholders are given an opportunity to identify risks and provide ideas for reducing risk. Risk owners are asked to sign off on the risk management plan. As new risks are identified, the process repeats.

Business Risk
A purchasing manager at a manufacturing company warns operations and marketing teams of a possible shortage of parts due to supply chain disruptions.

Moment of Risk
A telecom company warns its corporate customers of maintenance to network infrastructure that may impact performance or result in downtime.

Business Assets Jonathan Poland

Business Assets

In business, assets are useful property that are owned by the company. These assets can be divided into three categories:…

Overchoice Jonathan Poland

Overchoice

Overchoice, also known as the “paradox of choice,” is a phenomenon in which having too many options or choices can…

Best Industries for Selling B2G 150 150 Jonathan Poland

Best Industries for Selling B2G

The best industries for companies that want to acquire a government contract or grant are those that are aligned with…

What is Greenwashing? Jonathan Poland

What is Greenwashing?

Greenwashing refers to the act of making false or misleading claims about the environmental benefits of a product or company…

Abundance Mentality Jonathan Poland

Abundance Mentality

Abundance mentality is the belief that there is enough for everyone, and that abundance, rather than scarcity, should be the…

What is Marketability? Jonathan Poland

What is Marketability?

The marketability of a brand, product, or service refers to its competitiveness within a market. It is the likelihood that…

What is Price Stability? Jonathan Poland

What is Price Stability?

Price stability refers to the maintenance of relatively stable prices over time. This is typically measured by the rate of…

Alternative Hypothesis Jonathan Poland

Alternative Hypothesis

An alternative hypothesis is a hypothesis that proposes a relationship between variables. This can include any hypothesis that predicts a…

Best Practices Jonathan Poland

Best Practices

Best practices are generally accepted guidelines for achieving a specific goal. In a particular field or industry, best practices are…

Learn More

Business Cluster Jonathan Poland

Business Cluster

A business cluster is a geographic region that is home to a concentration of companies in a particular industry, and…

Brand Status Jonathan Poland

Brand Status

Brand status refers to the social standing that is associated with a particular brand. Customers may use brands as a…

Complexity Cost Jonathan Poland

Complexity Cost

Complexity cost is the cost associated with making something more complex. Complexity can have a range of costs, including increased…

Building Trust Jonathan Poland

Building Trust

To build trust, it is necessary to engage in ongoing behavior that helps people trust you. In general, people tend…

Key Employees Jonathan Poland

Key Employees

Key employees, or key personnel, are individuals who possess unique skills, knowledge, or connections that make their prolonged absence or…

Rationalism vs Empiricism Jonathan Poland

Rationalism vs Empiricism

Rationalism and empiricism are two philosophical approaches to understanding the world and acquiring knowledge. While they share some similarities, they…

Puffery Jonathan Poland

Puffery

Puffery refers to exaggerated or overstated claims in marketing communications. It is a legal concept that acknowledges that customers expect…

Supplier Risk Jonathan Poland

Supplier Risk

Supplier risk refers to the risk that a supplier will not fulfill their commitments to an organization, which could result…

Data Science Jonathan Poland

Data Science

Data science is the use of mathematical and statistical methods, machine learning algorithms, and other techniques to extract meaning and…