All companies have some risk. Business risk is "The possibility that a company will have lower-than-anticipated profits, or that it will experience a loss rather than a profit" (Hickman, Byrd, & McPherson, 2013). It is important for all companies to make an effort to minimize or at least manage risk. Risk management is the analyzing, controlling, avoiding, or minimizing of risk that may affect a company. "Risk management increases the probability of success and reduces the likelihood of failure, and also of the uncertainty of failing to meet the business's objectives." (Danciulescu) Dr. James Kallman identifies and analyzes some of the risk management techniques, and then look at another approach to risk management.