Risk Is A Part Of Every Human Endeavour

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Risk is a part of every human endeavour. Everything that we decide to do has a margin of risk. No outcome is ever 100 per cent certain and, therefore, any attempt at anything has a chance of complete failure. However, while some of these risks may seem trivial, others make a significant difference in the way we live our lives. On the other hand, it can be argued that every major advance in human civilization, from the caveman’s invention of tools to modern technology nowadays, has been made possible because of the willingness to take a risk and challenge the status quo. (Aswath, 2012) Why do people involve in risk, why risk is such an important element and what made risk such a vital aspect in human progression throughout history till now. The other aspect of risk that needs examination is the role that risk taking plays in creating innovation. Over history, many of our most durable and valuable inventions have come from a desire to expose ourselves to it. In a world full of guided history, we collect them and study them in order to progress in life. To progress we need risk and without risk there will be no innovation and progress. So back in 15th century, during the spice trade era, the risks at sea and from hostile forces created a need for more seaworthy crafts and powerful weapons, innovations designed to exploit risk. At the same time, the first full-fledged of insurance and risk pooling showed up at about the same time in history. The first organized

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