Exposure of business enterprises to risks is moving up on the ladder due to rapid pace of change, expanding business arenas, resource constraints, growing openness and accountability, continual organizational change, regulatory developments and well-publicized debacles of companies like Lehman Brothers, Satyam Computers, Enron and WorldCom. These events are adding new dimensions for creating risk awareness and managing risks among present day managers versus their counterparts a decade ago. Stakeholders today are demanding greater transparency on the subject of risks an enterprise faces and commensurate level of assurance about the robustness of the organization’s risk-taking capabilities. That being the reality why is risk an unpleasant word? Why do businesses often interpret risk as impediment to growth and ignore risk taking? Why is risk not viewed as resource for value creation? Can business enterprises, private or public, profit making or non-profits, established or start-ups re-look at risk positively to embrace it for achieving competitive advantage and sustained growth? And what exactly is the potential of using integrated risk management in creating a risk-intelligent organization when the business environment is going through a turbulent phase?