What is the difference between risk and uncertainty


Discuss the following sections:

Section 1

Managers, most business decisions are made under conditions of either risk or uncertainty. What is the difference between risk and uncertainty? In your opinion, is it easier to make a decision under a condition of risk or a condition of uncertainty? Why? Give an example from your experiences to support your answer.
 
Section 2

When talking about capitalization - key word, the decision making process includes seven steps.

What are the seven steps? Can anyone give us an example of each?

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