The Blog post offers an interesting look at the definition of risk management in business and clears some misconceptions on the definition. MacDonald, the blogger, refers to Professor John Boatright who states that instead of “reducing risks” in risk management, the concept of risk management is finding the right combination and degree of risks. Professor Boatright also states that the public needs to be aware of how corporations are looking at risk management and their perception of risks.

In my opinion, Boatright brings up a good point in that one needs to understand that in the business world, corporations, entrepreneurs, employees etc. all take risks and to succeed, will be required to take risks regardless of whether they want to or not. It is simply the nature of business. However, individuals in the business field can carefully plan out what risks they are willing to take, and which risks are worth taking and would achieve greater results compared to other risks.

http://www.canadianbusiness.com/blog/business_ethics/106699–the-need-to-manage-risk-management