We consider options of risk administration utilizing a historic example of approaches to estimation of hazard of sea pirates assaults, the so-referred to as Bernoulli’s and Columbus’ approaches. Given the scale of most commercial operations and the dearth of mechanized document-retaining and recording before the industrial revolution, it made sense for most homeowners of enterprises in those times to carry out administration capabilities by and for themselves. But with rising dimension and complexity of organizations, a distinction between owners (people, industrial dynasties or groups of shareholders ) and day-to-day managers (unbiased specialists in planning and control) step by step turned extra common. The median annual wage for marketing managers was…