Risk realization defines the ability of an organization to recognize threats, vulnerabilities and hazards and understand how those risks impact successful operations. Too often, a company may recognize risks, but may not always see or understand the complexities or interdependencies of risk on a broad or more global scale. Decisions are made at an executive level to prevent, mitigate, and control risks, however there may be unintended or negative consequences of the decisions. Regardless of the decision and actions taken to manage the risk(s), there will be an altered state of risk following the action(s). It’s important for company risk managers and executives to keep informed about the modified impacts due to altered risk states. 
An example of risk realization gone wrong is the recent BP oil spill. The media has reported that BP Oil company has developed many risk scenarios across multiple risk models. Yet, they apparently were totally unprepared to contain, control, and manage a spill of the magnitude experienced in the gulf this year.
An example of risk realization gone right is the frequent food recalls we seen on a regular basis across the food manufacturing industry. Beef, pork, chicken, dried foods, vegetables and more are often reported on a recall due to either salmonella or e.coli bacteria found in one or more lots. The food manufactures quickly identity the lot, product codes, shipment, factory station, and component source (eg. farm) and take immediate actions. Alerts are issued, notifications for recall with key data about the products are made, investigations are launched into the method by which the contamination occurred, and the ‘all clear’ is issued that says something to the effect of all the rest of the food products are fine, the contaminated food in question has been eliminated from the distribution chain, and we can all go back to eating what we choose. Unfortunately, the incidence of food contamination seems too high and too frequent.
The food companies appear to realize their risks and the confluence of multiple risks occurring at the same time, and have a plan in placed ready for execution. While the brand may be temporarily tarnished, the masses of consumers do eventually return to eating what they want when they want it.
The key to mature risk realization seems to be that an organization is practicing a less myopic and more broadly considered view of the risk model and applying critical thinking to that model. That seems to be a recipe for success. 
 Sikich, Geary. (2008). “The World of Risks and Opportunities“. Norwich University MSBC Seminar 4 Lecture Week 8, 2010