The Chinese character for risk combines danger and opportunity. The Oxford English Dictionary offers one definition of risk as the chance or hazard of commercial loss, specifically in the case of insured or goods.[1] Twenty years ago risk managers embraced the Oxford English Dictionarys definition of risk.

Why is the Chinese definition of risk more in line with the risk managers of today?

Suggest one way that the modern risk management approach adds value to a firm.

[1] FYI: This definition goes back to the year 1719.