Risk means any change in the current process or changing the repetitive task to something unique and new. In the current competitive environment, it has become necessary to take risks to succeed in life. Many people are always ready to take risks and new challenges, whereas there is a certain set of people who do not favour taking up risks and would like to play safe in life. This is mainly because of the disadvantages it involves. But, the advantages of taking risks outweigh its disadvantages.