I guess the best way to describe it is by explaining the concept of fractals. Imagine a 2D drawing of a house. Now, let's pick a shape. Perhaps a triangle. You wouldn't be able to draw that house using 1 triangle, yet using a thousand small triangles, you would be able to construct the shape of the house.

This may sound weird, but it shows that in business, any outcome (represented in my example as the house) is made up of a heap of events (the small triangles). Therefore, not based on luck, which means, not based on risk

Often we don't know the little triangles (lack of information), and are therefore uncertain as to what will happen