“What’s The Worst Thing That Could Happen?” How We Can Evaluate Risk in Our Lives, with Tom Rich

“What’s The Worst Thing That Could Happen?” How We Can Evaluate Risk in Our Lives, with Tom Rich

Risk – and its mitigation – has always been at the heart of decision making. It’s the basis of policies by public health officials to manage the risks posed by chronic and communicable diseases. The entire insurance industry is built around quantifying and managing risk. Marketers evaluate risk in decisions on coupons and price reductions. And so on. As individuals, we all consider risk level decisions about our lives. Major decisions (such as, should I move in with my family or a friend?). The risk of treating a serious physical condition with a medication that has possible serious side effects vs. no treatment (for instance, in dealing with falls)? During the pandemic many people felt unable to leave their homes and, as covid may be returning, some continue to feel that way or feel that way again. What issues are on your mind these days? Tom will identify the various forms of perceived risk (there are six) and offer some insights on how to think about them so we can make smart decisions. He has been a qualitative researcher for nearly 3 decades, helping to understand and evaluate the effectiveness of marketing strategies and tactics for his clients – and, of course, for himself.