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The Soul of Enterprise: Business in the Knowledge Economy
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The Soul of Enterprise: Business in the Knowledge Economy

Friday at 12 Noon Pacific

April 8th 2016: Risk is not a Four-Letter Word

In Italian, the word risk derives from risicare, which means “to dare,” which implies a choice, not a fate. Risk is an economic positive. It is where profits come from. There are five responses when confronted with risk: avoid it, reduce it, transfer it, accept it, or increase it. In the final analysis, a business cannot eliminate risk. Attempting to avoid risk and uncertainty, as with cost-plus pricing or hourly billing, is a self-imposed ceiling on a firm’s earnings. Ed and Ron will discuss the importance of risk from the perspective of individuals, entrepreneurs, project management, society

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