Courage isn’t about reckless risk-taking but is often the result of calculated actions that are taken in a measured and appropriate manner.
In business, bold, courageous actions provide the risk-takers with psychological currency, a kind of motivational force that emboldens an otherwise risk-averse individual.
Boldness becomes the fundamental component while pursuing an endeavour which is high in risk and reward.
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Courage is the pursuit of a higher purpose, according to Aristotle.
Courage is truly present when the fear is known and real, yet action is taken with eyes wide open. Many business actions like a hostile takeover, purchasing volatile stock or even the very act of starting a business are representations of a courageous act.
People often confuse risk with uncertainty. But the terms "risk" and "uncertainty" do not refer to the same thing.
The more you understand a system, the more able you are to convert uncertainty into risk.