In matters of practical business operations and business management, two important concepts — the risk of decisionmaking and decisionmaking under risk — are essential knowledge for business leaders and top company officials. As they try to expand their business and increase profits, businesses have to consider, almost on a daily basis, the risk of making a certain decision, and whether or not this is the right moment to apply their knowledge of decisionmaking under risk.
In other words, decisionmaking and risk are two sides of the same coin, and if the decisionmaker cannot consider both aspects, the future of the company will be at risk. This applies to private enterprise, and governance should be no different.