And recognizing risk is an absolute prerequisite for controlling it.

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After its investment missteps with Chrysler and GMAC (before the government bailout), Cerberus is surely capable of recognizing a big business risk.

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Recognizing the importance of systemic risk is far from novel, but thinking about risk this way points to another deeply flawed feature of the current regulatory system.

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Both of these examples required someone recognizing the value of taking a big marketing risk, thinking creatively, and ultimately, hitting the green light.

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You also gave the owner of the company their due for recognizing they have built the business and are taking the risk.

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Accepting uncertainty, and recognizing that there is no way to avoid it and learning to embrace calculated risk is a very important part of the process.

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