Risk management has been attracting a lot of attention in the business world. Risk taking is linked with decision making which in turn influence the organisational performance. Managers are known to be decision makers in organisations. The aim of this work is to identify factors which influence the attitude of managers to risk in decision making and investigate the extent to which differences in their individual characteristics influence their risk taking propensity. We also try to identify the major risks faced by these managers and seek to understand how these risks are being managed.