Is Risk Taking a good or bad undertaking? What is then your recourse when it turns out to be bad?

Life is risk.  Every decision you take, or don't take, involves a balance of risk and reward.  Risk is not good or bad in itself.

Being an adult means taking responsibility for your decisions.  That means accepting the consequences.  Good decisions are ones where the risk/reward that you have is similar to the one that you should have.   Bad decisions are the ones where the profile is not what you wanted, or where the risk is high but the reward is small.

A slightly silly example is engineering.  Engineering has a really bad risk/reward profile, and nobody should do it.  Unless, of course, you really want to be an engineer, then it's worth it.

Engineer risk reward profile for building a bridge:

- Reward.  Bridge stays up, engineer gets a photocopied letter of thanks from the highway authority which she can frame and put on the office wall.

- Risk.  Bridge falls down, hundreds of people die.

Risk taking is good and bad. Analyzing the level of risk is crucial in risk taking. Risk taking should be highly strategic and should server the mission of the project/organization or individual benefit. This could surely involve failures and losses, although it is perfectly fine not to take risks. At times risky endeavors take a lot of time to pay off.

The other side of the story-line would highlight that one generally tend over-estimate the probability of something going wrong by “make a mountain out of a molehill” the consequences of what could happen if it does go wrong.

Being wise in every situation will pay off.

any challenge the company do it have a lot of risk  there is no project without risk.

the risk taking is not game or chance but the different with any routine tasks it depends on the results so if you know the results% there is no risk but if it between0%-% there is risk. 

My view is that, taking risk in life is unavoidable. Every decision we take in our day to day life involved with risk. So risk analysis and calculation plays an important role.

Also nothing can be achieved without taking risk. so there is a proportion with reference to your achievement and risk took. At times calculated risk will help land you in safe zone so that you no need to feel sorry if things went wrong or not favorable to the taker as he/she already calculated the risk. 

Best recourse is to analyse the bad situation/failure and proceed with the calculated risk in a view to overcome the bad situation if still can be controlled or with in our hands. Thanks.

Taking a calculated risk is always a good undertaking. Some credit decisions despite being undertaken properly have always the potential to go wrong. In my opinion an early warning system should be in place whereby a deterioration in credit quality is detected at early stages and accordingly measures are taken.Still there will always be instances where such early warning systems fail . Under such circumstances, recourse is the collateral held against such finances along with restructuring / rescheduling taking into account business dynamics.