A "fiasco" is neither of the above definitions. Well, not really.
When one says "fiasco" in business terms, they are generally referring to a corporate venture that has ended unfortunately, usually through business incompetence, unwareness, ignorance or an unexpected, ridiculous occurrence.
It basically means a failure that is seen as ridiculous or unprofessional and is undesired by businesses.
A fiasco is a failure. By Brendan
There was a big Fiasco at the concert.
failure
A fiasco does not have to be a complete failure, but it is a very big mess. For example:The 2016 US Presidential campaigns and nominations have been a real fiasco, but both parties have worked to make their conventions successful.
The anagram is "fiasco" (complete failure).
Fiasco
"Utter fiasco" refers to a complete and total disaster or failure. It implies that everything went wrong and the situation was a complete mess.
The word "fiasco" is a noun. It refers to a complete failure or disaster, typically used to describe an event or situation that has gone terribly wrong.
Dud
Fiasco.
it's a failure
A disaster or failure