What is risk?
A word with both consequences and opportunities
At Risk Sciences International (RSI), we work at the intersection of science, policy, and public trust. Our clients span government, industry, and civil society — but they share a common challenge: making decisions under uncertainty. We believe that defining 'what is risk' — and what it means to different actors — is not just an academic exercise. It’s foundational to better decisions, better outcomes, and a better future. This reflection is our attempt to ground that conversation in shared reality and purpose. This is also our way of reinforcing the notion that risk can be about consequences, but also about opportunities.
Risk is not the enemy. Nor is it a single thing. It is the invisible contour shaping every decision we make—quietly negotiating between possibility and consequence. Risk is the air we breathe when we decide to build, to reform, to innovate, to resist. It is not defined by spreadsheets or standards alone, but by the real-life stakes behind every choice, every delay, every silence.
For private sector leaders, risk often wears the face of liability, market backlash, or regulatory scrutiny. It can mean missed quarters, shattered reputations, or the collapse of consumer trust. But sidestepping risk entirely can be just as costly. Doing nothing—failing to evolve, failing to listen—is its own hazard.
In the public sector, risk sits at the intersection of duty and politics. How do you protect lives and livelihoods while navigating bureaucratic constraint, public perception, and limited resources? The consequences of failure here can be catastrophic—lives lost, services collapsed, communities broken. Yet the push for accountability can freeze innovation, or even stall action altogether.
Civil society organizations live in a different tension. Their work is often driven by moral urgency, and yet they too must weigh risk: of co-optation, of mission drift, of saying too much or not enough. They face existential threats not from profit loss, but from losing legitimacy among the very communities they serve.
And then there are companies like RSI—mission-driven but structurally commercial. We exist in the space between: committed to public value, yet reliant on institutional clients whose incentives may diverge from broader societal needs. Our challenge is to earn trust across ideologies and sectors, to offer tools that are both scientifically credible and politically usable, and to speak truths that may be inconvenient—but must nonetheless be heard.
Risk, ultimately, is not just about what could go wrong. It’s also about what might not go right—what might never be tried, never be built, never be shared, if fear eclipses vision.
So maybe the question is not simply: What is risk?
<strong>How much uncertainty are we willing to live with—for the sake of progress we can’t yet guarantee?</strong>
Etymological History of “Risk”
The modern English word risk originates from a complex evolution involving several Mediterranean languages, tracing back to Late Antiquity and the Middle Ages.
Greco-Roman Roots
The earliest root often cited is the Late Latin term resicum or risicum, which appeared in Medieval Latin around the 11th century.
This term is not classical Latin but likely derived from a Greek maritime term, rhizikon (ῥιζικόν), related to rhiza (ῥίζα), meaning “root” or “cliff,” possibly connoting a danger near the shore or rocky reefs—a navigational hazard.
In this sense, rhizikon came to represent the idea of hazard or danger, particularly in seafaring and trade contexts.
Adoption in Italian and Commercial Context
The term passed into medieval Italian as risco or risco, meaning “danger” or “peril.”
It became particularly prominent in Genoese and Venetian commercial and maritime law, where risco was used to describe the chance of loss in trade, especially in marine insurance contracts.
From this usage, rischio developed in Italian to mean both the hazard and the financial uncertainty associated with trade.
Transmission to French and Spanish
From Italian, the term migrated into:
- Old French as risque
- Spanish as riesgo
These borrowings carried forward the dual meaning: exposure to danger or loss, and the need to manage or accept that exposure in commercial ventures.
Entry into English
First recorded in English in the early 1600s, “risk” entered through French influence—as England increasingly adopted continental economic and insurance practices.
Initially used primarily in mercantile and maritime contexts, it soon expanded to include broader existential or strategic uncertainties, including in law, philosophy, and eventually modern risk analysis.
Modern usage
Today, “risk” encompasses:
- The possibility of loss or harm
- The probability and impact of undesirable outcomes
- A key concept in economics, engineering, health sciences, insurance, and risk management
"Risk" in 50 languages
|
Language |
Translation of “Risk” |
|---|---|
|
English |
Risk |
|
Mandarin Chinese |
风险 (fēngxiǎn) |
|
Hindi |
जोखिम (jokhim) |
|
Spanish |
Riesgo |
|
French |
Risque |
|
Arabic |
مخاطرة (mukhāṭara) |
|
Bengali |
ঝুঁকি (jhuki) |
|
Russian |
риск (risk) |
|
Portuguese |
Risco |
|
Urdu |
خطرہ (khatrah) |
|
Indonesian |
Risiko |
|
German |
Risiko |
|
Japanese |
リスク (risuku) |
|
Marathi |
धोका (dhokā) |
|
Telugu |
ప్రమాదం (pramādaṁ) |
|
Turkish |
Risk |
|
Tamil |
ஆபத்து (āpattu) |
|
Korean |
위험 (wiheom) |
|
Vietnamese |
Rủi ro |
|
Italian |
Rischio |
|
Thai |
ความเสี่ยง (khwām s̄eīyng) |
|
Persian (Farsi) |
ریسک (risk) or خطر (khatar) |
|
Polish |
Ryzyko |
|
Ukrainian |
ризик (ryzyk) |
|
Malay |
Risiko |
|
Romanian |
Risc |
|
Hausa |
haɗari |
|
Burmese (Myanmar) |
အန္တရာယ် (an-ta-yae) |
|
Yoruba |
ewu |
|
Uzbek |
xavf |
|
Punjabi (Gurmukhi) |
ਜੋਖਮ (jokham) |
|
Igbo |
ize ndụ |
|
Filipino (Tagalog) |
Panganib or Peligro (risk/danger) |
|
Dutch |
Risico |
|
Kannada |
ಅಪಾಯ (apāya) |
|
Gujarati |
જોખમ (jokham) |
|
Amharic |
ሃያላን ግፋት (hayalan gifat) |
|
Oromo |
balaa |
|
Maithili |
जोखिम (jokhim) (same as Hindi) |
|
Sindhi |
خطرو (khatro) |
|
Nepali |
जोखिम (jokhim) |
|
Sinhala |
අවදානම (avadānaya) |
|
Khmer |
ហានិភ័យ (haniphéy) |
|
Malagasy |
loza |
|
Somali |
khatar |
|
Cebuano |
katalagman |
|
Assamese |
বিপদ (bipod) |
|
Serbian |
ризик (rizik) |
|
Greek |
κίνδυνος (kíndynos) |
|
Czech |
Riziko |