Definition
An Opportunity is a circumstance or possibility that, when acted upon effectively, may contribute to beneficial outcomes or increase value for an organisation.
Human Explanation
An Opportunity is a possibility of gaining additional benefit through an appropriate decision or action.
Why it Matters
Decision-making should consider not only possible harm, but also the benefits that may arise from new options and changing conditions.
Conceptual Boundary
An Opportunity does not guarantee success. Realising it depends on available resources, timing, conditions and the way the organisation acts.
Practical Perspective
Strong decisions balance the level of Risk against the potential value of available Opportunities rather than considering either side in isolation.