Risk management is improving and evolving, yet some surprisingly prevalent misconceptions remain.

In terms of improvement, a new study from Aon (contact information required to download) finds that 62 percent of companies have progressed beyond basic ERM practices. When Aon conducted a similar study in 2007, only 38 percent of respondents reported that their organizations had progressed beyond basic ERM practices.

This article (abstract only) helped remind me that our collective understanding of risk management continues to evolve. The article seeks to correct the false impression that entrepreneurs love to gamble and take big risks. Evidence suggests that successful entrepreneurs do the opposite: They minimize their risk of incurring big losses and maximize their odds of big rewards through thorough analysis and conclusions that elude others.

If you’re not a New Yorker subscriber and want some deeper insights from the article, the author pulls from the following books:

• The Greatest Trade Ever;

• The Illusions of Entrepreneurship; and

• From Predators to Icons ###