In the sphere of finance, to measure risks involved in the business meant the use of some of the most intricate probability based mathematical and statistical tools that are found in any discipline. Company beta is one of the usual risk measurements in finance. Beta is a mathematical tool in measuring how sensitive the rates of return on a portfolio are in comparison with the rates of return on the market in general. So if you have a high beta, that is greater than 1.0 then it shows that price volatility ranges from moderate to high.
Risk management is actually about the identification of potential risks and formulation of decisions to arrive at a situation where the possibility and/or effect of the risks are diminished. Some companies use financial products that will transfer risk from one party to another.