Life is about risk-taking. For there is no such thing as risk-free. When you do not do something, you carry some risk. When you do something, you carry risk too depending on the decision at hand. The best decision is therefore to do something and increase your odds of success. There are four strategies of risk management – transfer, treat, terminate, or tolerate. All these aim at optimizing opportunities and minimizing losses. Every day, we must make choices. You want to maximize value and reduce losses. Do you stand for a political office, yes or no? First, what is the…