STRATEGIZING by Emanuele Sacerdote
The precautionary principle represents the behavior, attitude and attitude that makes us act with greater caution and attention with respect to a possible danger or an unexpected potential.
The ingrained concept behind this principle is the risk that an event could actually happen.
If there is a red level weather alert, it is better to stay at home and, if you really have to go out, bring at least an umbrella, galoshes and a charged mobile phone. If you own a real estate property in an earthquake zone it is recommended to have an additional and specific insurance coverage on earthquakes or to have a building with anti-seismic structures. If you don't use the mask and frequent many gatherings, you increase the probability of being infected with covid19.
Apart from these examples taken from everyday life, when we talk about risks we need to think and measure the probability that the unfortunate event will happen. Probability, more/less certain, more/less objective, defines the importance of the risk.
What's the meaning?
Quite simply that the impact of the possible event can significantly worsen the course of the year (of life) and of the planned plans by imposing an unexpected change of scenario, a slowdown, a delay, a damage: the effect of the change is the cost real and cultural to support in order to return and to recover the pre-event position.
One way to reduce and contain the impact is to adopt the precautionary principle by modifying behavior and trying to identify the potential precautions to be taken to reduce the effect of the risk.
The suggested mindset is to face risk and impact as possible events and not as impossible.
The greatest risk is to limit, underestimate or not consider that the event can happen.
History, the reality of daily life and that of businesses, teach us that the only way to face risk is to think in terms of culture and of realism considering that the possible event happens and not rejecting it.
Refusal, rejection or postponement are the attitudes to be countered by facing the present and the future with a more realistic, more reasoned, more prudent and more protective approach and behaviour.
The popular proverb "prevention is better than cure" wisely sums it all up.
All the Best
